• East Asian Economic Review
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• v.16 no.3
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• pp.249-272
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• 2012

This paper examines how a Korean automobile firm price-discriminates between the Korean and the U.S. markets. We argue that a Korean automobile firm's pricing behavior depends on the differences in price elasticity over the segmented markets between the countries. Our findings are that differences in price elasticity may help explain why a medium-class car's price is higher in Korea than that in the U.S. while a small-sized car's price is higher in the U.S. than in Korea, which implies that a Korean automobile firm $3^{rd}$ degree price-discriminates on the same or similar products between Korea and the U.S. This type of $3^{rd}$ degree price discrimination differs from a typical home-bias effect (charging higher prices to domestic consumers) because a small-sized car which is produced domestically sells at higher price abroad. This finding can be added as a source that violates the law of one price.

• The Journal of Society for e-Business Studies
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• v.8 no.4
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• pp.1-16
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• 2003

ERP implementations are known to be unusually difficult, even when compared to other large-scale systems developing in a firm level, because it requires a substantial investment of time, money, and internal resources. Moreover, medium and small-sized enterprises that are increasingly adopting ERP feel much difficult due to the lack of resources. To promote the spread of ERP in medium and small-sized enterprises, "ERP template standardization methodology" led by government has been used for constructing ERP system in Korea. In this study, we present a study to measure fitness between ERP standard templates and business processes of 10 small enterprises in 5 industries. Also, we define a fitness measure suitable for this purpose. We car find that ERP template standardization methodology is partly adequate to establish ERP systems and it is required to add to templates which support the differences of business process.

• 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.

• Journal of Family Resource Management and Policy Review
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• v.24 no.2
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• pp.23-48
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• 2020

This qualitative case study focuses on five small and medium-sized enterprises which have put family-friendly management into successful practice. Through in-depth unstructured interviews with five human resources managers and ten employees, we describe each firm's approach to work-life balance including working hour reductions, breaks, work flexibility, and parental leave to build an overall picture. We also discuss the four key factors of the CEO's role; democratic communication between all staff, the usefulness of family-friendly certification as a starting point; and governmental support for promoting work-life balance at small and medium-sized enterprises. Finally, we suggest three political implications of governmental support, namely CEO education, changing the criteria of family-friendly certification to redefine working hours and work flexibility, and incentives specifically for small to medium-sized enterprises.

• Journal of Distribution Science
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• v.18 no.6
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• pp.47-55
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• 2020

Purpose: The issue of access to credit for private enterprises has been given an increased amount of attention given their crucial role in fueling economic growth. Vietnamese small and medium-sized businesses, however, face many obstacles in accessing financing for profitable investment opportunities, with up to 70% unable to access or obtain bank loans. This paper aims to address the factors affecting the credit accessibility of Vietnamese enterprises, and provide further insights of this issue under the new context of Basel II. Research design, data and methodology: We adopt a pooled sections approach to construct a sample of 155 firm observations before and after the implementation of Basel II accord in Vietnam and employing binary logistic regression and interaction terms for data analysis. Results: We find that firm characteristics (export participation, female ownership) and proxies for bank-borrower relationship (deposit, overdraft facility) have significant and positive effects on firm's access to credit. Notably, the sign of interaction coefficient shows that the implementation of Basel II tends to benefit small-sized firms in terms of credit accessibility. Conclusions: The finding further emphasizes the important role of relationship lending in Vietnam's credit market, which is even more critical for small firms when Basel II is universally applied as the new banking standards in the coming years.

• Asia-Pacific Journal of Business
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• v.11 no.2
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• pp.207-233
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• 2020

Purpose - The purpose of this paper analyzes the relationship between the Corporate Social Responsibility(CSR) and Corporate Value to estimate whether the characteristics of Firm can change this relationship. Design/methodology/approach - This paper utilizes the total 776 firms' data over the period 2014-2018, and develops a new ESG index which was estimated by PCA. Findings - First, the estimated ESG index implies that Large company has the highest value of CSR, while Medium sized and Small company have the relatively low one. And comparing to the case of 2014, the trend of ESG index in Large company does not decrease in 2018. Second, there is a clear and significant non linear relationship between CSR and corporate value, it implies that the U-shaped exists in the Korean Firms. Such a tendency is mush stronger in the Large company. Third, the new ESG index indicates that it takes more time to increase Firm value in the Medium sized and Small company while there is a high possibility of increasing value in Large company from the little gab between the threshold points and mean value of ESG. Research implications or Originality - The non linear tendency between the Corporate Social Responsibility and Corporate Value is strongly affected by Firm size and the relative high quintile of ESG, but it is less affected by Firm history.

• Knowledge Management Research
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• v.12 no.2
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• pp.91-112
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• 2011

Most of enterprises use various applications for serving their routine business. One of most widespread applications is the enterprise resource planning (ERP). This paper focuses on open source ERP software and aims to find out what benefits it can bring to small and medium-sized enterprises (SME) comparing to proprietary ERP. To serve the purpose, this paper introduces the successful adoption of open source ERP software through the case study of small Vietnamese firm. The results of this paper show the advantage of open source ERP software and the possibility of adoption for SME.

• Journal of Korea Trade
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• v.26 no.5
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• pp.39-55
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• 2022

Purpose - This study empirically examines the effect of the Korean government export promotion program (EPP) on small and medium-sized enterprise (SMEs) export performance using firm-level data. Unlike most previous studies that investigated some specific samples of firms, this study analyzes a vast amount of SME data of the Korean Small and Medium Business Administration over the period 2005 to 2008. Design/methodology - An endogeneity problem arises when a firm's probability of being selected is correlated with the likelihood of successfully implementing EPPs. To control for the endogeneity of the EPPs in a relatively short-period sample, we employ 2-Stage Residual Inclusion (2SRI) RE-Tobit and bivariate Tobit procedure. Findings - Analyses show that Korean government EPPs have positive significant effects on SME exports. Empirical results also show that SME export activities are significantly encouraged by R&D investment and capital intensity, but not obviously by labor productivity. Originality/value - This study provides evidence that SME capital intensity, R&D investment, and the number of workers are significant determinants to SME exporting activities, whereas per worker labor cost and employee education are not. These results imply that even for SMEs, firm size is a major factor in promoting exporting activities.

• East Asian Journal of Business Economics (EAJBE)
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• v.6 no.2
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• pp.49-57
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• 2018

Purpose - to examine the theories related to the internationalization of multinational corporations as well as theories related to internationalization of small and medium-sized enterprises. Research design, data, and methodology - traditional theories, e.g. eclectic paradigm and behavioral theory and product life cycle etc. were examined and recent advances theories - network theory, entrepreneurship - were also examined to outline the theory of internationalization of firm. Results - the main schools of international researches are divided into two; one is the economics school, the other is the behavioral school. The economics school has considered internationalization as a pattern of investment in foreign markets explained by rational economic analysis of internalization, ownership, and location advantages. Apart from the economics approach, a theory relevant to smaller firms highlights slow and incremental overseas market commitment. Recent research on the network perspective is fast emerging and it can be applied and well explained on the internationalization of smaller firms, focusing on firm behavior in the context of a network of interorganizational and inter-personal relationships Conclusions - Small medium-sized enterprises have been recently rising, however, there has still been little consolidation of literature in internationalization and most of the relevant theories have been still focusing on explaining the globalization of multinational corporations. Little studied on the internationalization in the context of smaller firms which are distinctly differentiated from larger firms including international new ventures, which the motivation to study strongly calls for more information and studied on small medium-sized enterprises.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.191-196
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• 2013

The proportion of small and medium sized enterprises based on the number of corporations in China is 99%, the number of employees is 80%, and the proportion of GDP is 60%. These facts show that small and medium sized enterprises have an very significant effect on the economic growth of China. However, most of the researches conducted so far have studied large corporations, thus, there are relatively insufficient researches on the determinant of the capital structure of small and medium sized enterprises. Therefore, the purpose of this paper is to confirm the factors that determine the capital structure of small and medium sized enterprises in China. To achieve this purpose, we performed multiple regression method to 45 small and medium sized manufacturing enterprises listed on the Shenzhen Stock Exchange of China. Results of this study are as follows. First, the growth appeared to have a significant positive effect to the debt ratio in 1% significance level. Second, the profitability appeared to have a significant negative effect to debt ratio in 1% significance level. Third, the firm size appeared to have no effect on the debt ratio. Fourth, the secured value and tax shield effect by non-debt appeared to have a weak positive effect on the debt ratio, however these variables showed statistical insignificant.