• Journal of Korea Technology Innovation Society
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• v.8 no.1
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• pp.277-295
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• 2005

The objective of the study is to verify the discriminatory power of valuation indexes in predicting IT small and medium sized manufacturing firms' going concern or firms' failure. The result of the study is expected to be useful in loan evaluation, investment decision, internal management decision making and business improvement. The results of study is as follows. First, we find that at least six valuation index elements are significant ex-ante variable which are discriminating between firms' going concern and firms' failure in IT small and medium sized manufacturing firms in various analysis' results. Second, these index elements are composed of 2 indexes-the ability of technology R&D, the efficient strategy of market penetration and six index elements explain 46% of the total variance. This explainable power of these indexed is similar to that of the existing 16 index elements. Finally, we find that the most important success factor of IT small and medium sized manufacturing firms are the ability of technology R&D and the efficient strategy of market penetration.

• The Journal of Industrial Distribution & Business
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• v.9 no.9
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• pp.15-23
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• 2018

Purpose - The purpose of this paper is to examine the determinants of non-bank depository institutions (non-bank financial corporations) lending to firms. The paper aims to contribute to the existing literature by providing empirical evidence from firm-level data and unveiling factors related to access to non-bank financial corporations by firms. Research design, data, and methodology - We used the data on borrowing by firms from CRETOP from years 2008 to 2011. Using the manufacturing industry, we examined what firm-level characteristics explained the increase in borrowing from non-bank financial corporations rather than the banks. Results - Analyzing the firm-level data from 2008 to 2011, we found that firms were more likely to borrow from non-bank financial insti­tutions as the size of the firm increases, implying that large firms have more access to non-bank financing than small and medium-sized firms. In addition, it also showed that small and medium-sized firms moved to non-bank financial corporations for loans. Conclusion - Non-bank depository institutions are not a sub­stitute for bank lending to firms. More specifically, they replace bank lending to firms mostly for large firms rather than small and medium-sized firms. Also, collateral and other firm-level characteristics do not matter in accounting for non-bank lending to firms.

• Asia pacific journal of information systems
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• v.5 no.1
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• pp.186-218
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• 1995

The necessity of installing well adaptable Information Systems are required day by day in all the fields of business management. This paper provides an Information System development for enhancing competitive power of the small and medium-sized firms in Korea. Recent growing Information Technology leads to constructing invisibly some new adaptable Information Systems in accordance with the business size, level, capacity and requirements. Even though some advanced companies and big enterprises are already operating their own appropriate Information Systems so as to get their remarkable productivity at a moment. The rest of those small firms are still trying to find out some proper systems fitting their own business in very poor situations. The basic requirements of the points of views by mail questionaired and interviewed from 1292 small and medium-sized manufacturing firms reflected on this Information System development. As a result, the study introduces some economically efficient, convinient, flexible and useful applied Information Systems with simple methods.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.546-575
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• 2017

This paper investigates the effects of public R&D support on medium-sized firms' R&D investment. The paper collects a panel dataset of Korean manufacturing firms' R&D investment and public support, and employs the DID (difference-in-differences) regression for the test of stimulating or crowding-out effect. Empirical analysis examines how the effect of public R&D support differs between small and medium-sized firms and whether firm size and technological capability moderate the effect in the sample of medium-sized firms. Empirical results show that public R&D support tends to generally stimulate private pure R&D investment for both small and medium-sized firms. Comparing the results for small and medium-sized firms, this paper finds that the stimulating effect is relatively larger and more significant for medium-sized firms, while the effect is not significant for small ones. Furthermore, the paper shows that the stimulating effect of public R&D subsidy on private R&D investment is relatively stronger for medium-sized firms with superior technological competence and the effect of tax support is greater for incompetent firms. These results suggest that public R&D policies and R&D programs, differentiated from those for existing small firms, are necessary for medium-sized firms to stimulate private R&D continuously and formulated carefully by considering firm size, technological capability and growth potential.

• The Journal of Industrial Distribution & Business
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• v.9 no.11
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• pp.93-104
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• 2018

Purpose - For small and medium sized firms, CEO characteristics are main factor influencing firms' prosperity as well as performance. So it is quite natural that many people are interested in factors of CEO that matters. In this research, CEO characteristics in terms of capabilities and skill or special knowledge necessary to run the business are invested for manufacturing firms. Precedent studies reveal that CEO characteristics such as psychological factors including desire to succeed, tendency to take risks, personal factors including age, year of running business, and task related factors including managing capability, communication skills, network influence firm performance for manufacturing firms. However, these studies simply verify whether or not those factors affect firm's managing performance. This study, however, goes further to investigate how is the affecting process from CEO's capabilities and organization characteristics to firm's core competence, and from core competence to advantages, and from advantages to managing performance. Research design, data, and methodology - We make a questionnaire and surveyed manufacturing firm CEO's in Gyeonggi-do area. General characteristics analysis, factor analysis, regression analysis, and control effect analysis was conducted. SPSS 2.0 Win, version was used. Results - The CEO characteristics including basic capability, task capability, leadership, and organization characteristics affect core competence at the statistically significant level. And, core competence affect both price advantage and differentiation advantage at the significant level. Some unique finding is that while differentiation advantage affects both financial achievement and non-financial achievement, price advantage does not affect both financial and non-financial achievement. And firm characteristics mainly measured by CEO characteristics of skills has control effects on the trace from core competence to price advantage. Conclusions - For small and medium sized firms CEO characteristics is the most important factor influencing firm's prosperity. For manufacturing firms, whether CEO has the skill or special knowledge to run the firm is critical factor. The study results show that CEO's for manufacturing firms put importance on price and price advantage which seems to be familiar to them. However, the price advantage does not influential to financial and non-financial achievement. This result suggests that small and medium sized manufacturing firms' CEO's should make effort to improve other aspects of advantages to be more competitive.

• International Commerce and Information Review
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• v.11 no.2
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• pp.149-172
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• 2009

Service industries nowadays have become the subject of a scientific research. However, unlike research on manufacturing, there has not yet been a broader presentation of important aspects theoretically and methodologically. The importance of service sector in both national and global economies has grown significantly. An active participation of service industries in the internationalization process, notably by licensing and FDI, has occurred over time. But a few sub-sectors still dominate on this process, for example, financial institutions such as banks, securities, and insurance as well as producer services in advertising and accounting. On the other hand, personal services that are owned by small- and medium- sized firm have limited capabilities in their transnational transfer. This paper attempts to examine various factors influencing decisions for these small- and medium- sized Korean beauty firms in entering to the foreign markets. Determining factors for these firms in the engagement of internationalization depends largely on competitive advantages in both domestic and host countries, and they may be different from those in the sub-sectors mentioned above. Based on previous researches, i identified three categories of independent variables(characteristics of firms, managers, and competition) that can influence decisions to enter to the foreign markets. Seven hypotheses have been tested by using a sample of beauty firms in Daegu city and Kyungbuk province. The results show that the intention of these firms to enter to the foreign markets is significantly influenced by the factors of the innovative character of CEO's, the competitiveness of firms, and size of firms.

• Journal of the Korean association of regional geographers
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• v.2 no.2
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• pp.19-36
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• 1996

This study is to examine the remained basis and the locational characteristics of manufacturing in Chonnam region. First, the locational characteristics of manufacturing in the peripheral region examined through theoretical discussions about manufacturing location. And the locational characteristics of the small and medium firms and large firms be studied as to understand the precedent characteristics of Chonnam region. Chonnam region have the precedent characteristics that the regional capital is not accumulated as Japen exploit agricultural products at a colonial period. And SOC, industry and technology are not developed as geographically Chonnam lesion turn aside the economics axis of Korea-Japen-America within a period of industrialization. Manufacturing firms have beer make up the traditional indigenous firms which base on local market, agriculture and marine products in Chonnam lesion. The characteristics of these firms mainly are food & drink, nonmetal industry that is composed of the small and medium sized firms. The industrial structure is changing to machinery, chemistry, electronics industry from food & drink, nonmetal industry. But these industry is making the simple products. In Chonnam region, these change of industrial structure was expanding to the inland or coast region from the neighhoring region of Kwangju metropolitan. The blanch factories of large enterprises that located in Chonnam region are not connected with small and medium sized firms. The small and medium sized firms are not developed. Because these large enterprises are the iron and steel industry or chemistry industry. So the large-manufacturing firms have characteristics of the capital intensive industry, and make up the monopolistic industrial space of fordist blanch factories.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2004.10a
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• pp.173-176
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• 2004

Understanding the fact that more spending for R&D is merely a necessity, not a factor of success, managing technological development efforts effectively and efficiently for higher R&D productivity and sustainable growth has become an important issue for contemporary firms. Based on a survey on small- and medium-sized manufacturing firms, this paper explores the relationships of leadership positions, technological contents and acquisition methods of korean firms. This paper has identified several findings from Korean manufacturing firms: (1) five different patterns are identified in the technology strategy of medium-sized companies; (2) a significantly positive relationship exists between a firm's leadership position and the aggressiveness in technological contents of their acquisition methods; (3) a significantly positive relationship of some technology acquisition methods to the firms' leadership position exists,

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.1-15
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• 2023

Purpose - This study investigates whether the inventory levels of Korean manufacturing firms increased or decreased from 2000 to 2019. We also explore the relationship between inventory levels and firm performance. Design/methodology/approach - We use panel data on KOSPI-listed firms in the manufacturing industry. We measure days in inventory as a proxy for inventory levels, and firm performance is measured by return on assets, return on sales, and EBITDA ratio. The panel data regression method is employed in our analysis. Findings - We find that days in inventory of Korean manufacturing firms significantly increased from 2000 to 2019, especially for raw materials and finished goods inventory. In addition, while days in inventory of large- and medium-sized firms were less than those of small-sized firms, the change in days in inventory of large- and medium-sized firms was positively significant over time. Moreover, the increase in days in inventory was more prevalent among industries related to foods, clothes, chemicals, and transportation. Finally, we show that the days in inventory are negatively related to firm performance. Research implications or Originality - While the Korean manufacturing industry has enormously grown over the last 20 years and managing inventory is critical in the manufacturing industry, our findings counter-intuitively show that the days in inventory of the Korean manufacturing industry had been gradually increased. We speculate that the increase in days in inventory is due to the Korean manufacturing firms' heavy reliance on global supply chains.

• Journal of Korea Society of Digital Industry and Information Management
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• v.18 no.2
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• pp.61-75
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• 2022

The purpose of this study is to analyze the impact of quality management system requirements, a management innovation technique, on business performance to secure the competitiveness of SMEs in an environment of increasing uncertainty in the global economy and intensifying competition. To this end, a survey was conducted on small and medium-sized enterprises (SMEs) operating a quality management system, and statistical analysis was performed through validity and reliability analysis, regression analysis, and group analysis using IBM SPSS 26.0. As a result of the study, it was found that planning, operation, support, and improvement, which are the core requirements of a quality management system, have a positive effect on business performance. In addition, through group analysis, it was found that the effect of quality management system requirements on business performance varies according to the level of the company. This means that the importance of quality management requirements required for strategy establishment varies according to the quality management introduction level of small and medium-sized manufacturers, and it can be used for small and medium-sized manufacturers to set strategic directions.