• Industry Promotion Research
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• v.1 no.1
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• pp.159-166
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• 2016

The purpose of this study is to present and identify the relationship for the effects of performance-based human resource practices on the organizational effectiveness with focusing on small and medium-sized enterprises around Shandong province of China. The performance-based human resource practice factors include selective employment system, education training system, evaluation system, compensation system and the career promotion ladder opportunity system. As a result, among ten hypotheses, six hypotheses turned out to be the meaningful approaches. In addition there exist some human factors that interfere with the fairness of the evaluation due to the regional and personal factors, assessment system difference among firms. Finally the compensation system and organizational investment for increasing or decreasing will critically affect the enthusiasm of the staff members of firms, and the less invested for thema, the greater the likelihood of their turnovers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.3
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• pp.1-22
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• 2009

A firm's competitive capabilities become greater when the firm has a specific knowledge. There are many studies have been examined how to accumulate the firm specific knowledge and to get the competitive capability on the various perspectives. This study suggest that the conceptual framework on the absorptive capability through reviews on the knowledge management theory. And it also suggests that the proposition about the technological capability building process through the in depth case study on a small and medium sized company in a LCD industry. This study found the following major characteristics about the absorptive capability building and knowledge creating process. First, it is required to building an absorptive capability rapidly that the harmony of local capabilities, integrative capabilities, and intensity of effort. And the most important factor is the intensity of effort in a small and medium sized firm with a weak knowledge base. Second, it is required to develop an innovative new product that the utilization of expeditious learning mechanism based on the exploration and exploitation process. Finally, complementary assets are needed to proactive exploration and exploitation. Based on the findings, the theoretical and managerial implications are derives and the further research directions are proposed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.1
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• pp.1-12
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• 2016

In Korea, small and medium sized domestic enterprises(SMEs) play an pivotal role in the national economy, accounting for 99.9% of all enterprises, 87.5% of total employment, and 47.6% of production. and SMEs was driving a real force of the development of national economy in many respects such as job creation, innovation, balanced regional development, industrial diversity. The government has strengthened a variety of policy support to support SMEs. However, due to the mismatch between the difficulties of SMEs and benefits of government's policy, the policy implementation has not come out effectively. In order to effectively support SMEs, government must be a priority to know about the factors that experiencing difficulties in the technology commercialization process. The purpose of this study is thus to identify the major evaluation criteria through 3 level AHP analysis. First, 12 Critical elements are extracted from previous studies and professional interview and these elements are tied into 3 factors; technological factor, inner-organizational factor and Outer-organizational factor. The results of AHP analysis show that inner-organizational factor is more important and 'Market environment' in the inner-organizational factor is the most important element. The results of this research will be useful for public R&D institutions policy makers when establishing technology commercialization support policies and strategic planning of small and medium sized domestic enterprises.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.59-71
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• 2020

This study is empirically intended to look into the effects of smart factory technologies on quality and innovation performance in small and medium-sized Enterprises(SMEs). The research results are as follows. Device and application technologies for smart factory had a positive effect on the information quality and system quality, while platform technologies had an insignificant effect on the information quality and system quality, rejecting the effect of platform technologies for smart factory on information quality and system quality. Device technologies for smart factory had also a significant effect on innovative performance, while platform and application technologies had an insignificant effect on innovative performance, rejecting the effect of platform and application technologies for smart factory on innovative performance. The system quality had a significant effect on innovative performance, while the information quality had an insignificant effect on innovative performance. The quality played a partial mediating role in the effect of device technologies for smart factory on innovative performance. These results indicate that small and medium-sized venture firms should implement a high standard of information quality management(IQM) through interconnection as the kernel of a smart factory in the 4th revolutionary era, and that they can improve their corporate performance through the interlocking between components from manufacturing design to execution and analysis and the integrated management of systematic information collected from devices if necessary.

• Korean Journal of Construction Engineering and Management
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• v.19 no.4
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• pp.21-33
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• 2018

In 2018, the real estate markets have hardly been transacted according to the government's tight regulations of real estates, and have the high possibility to reach a low hit due to the hike of loan interest rates following the U. S rise of base money rate. The key profits for the large construction companies mainly come from the overseas plant projects and the domestic non-governmental construction projects. They suffered a lot such as the lowering of their credit ratings due to the large losses caused by the frquent design changes and work delay. Even in the domestic non-governmental construction projects, the general business risks are on the rise due to the property marketing moving over to the decreasing phase. The small and medium sized security companies has realized a lot of operaring profits as they participated in the PF market to make up for the losses in the securities trading business. But, now as the housing market is not so good around the nation except Seoul and the financial states of large construction companies are not good enough, they can face the liquidity crisis if there happens the problems in the PF backed securities which they have handled. As Korean economy experienced the crisis in the savings banks before, it is recommended that Financial Supervisory Service proposes the preemptive control method and supervision direction to overcome the crisis.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.9 no.1
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• pp.845-858
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• 2019

The most serious problem company facing in today's business environment is the failure of new product development outcomes. Statistically, almost half of the new products released each year failed. Despite the innovative technological advances, consumers' expectation level become much higher and global competition is intensifying. In addition, the new product life cycle is becoming shorter and shorter. It is difficult for a company to survive without developing long-lived products. The most important issue in a company's success and failure is the successful development and introduction of new products. Previous research has presented many determinants to achieve a successful new product development. This study focuses on dynamic competence as an important determinant, and identifies the constituting elements. Enterprises need to acquire, absorb, integrate and reconfigure their resources to survive and develop continuously. It is necessary to hold a dynamic ability switching resource bases in order to adapt to changing environments. The results of this study are as follows: First, the effect of learning, reconfiguration, and alliance capabilities on the new product development of small and medium-sized manufacturing enterprises seems to be positive. Second, the integrative and reconfiguration capabilities positively affect a new product development under high environmental turbulence.

• The Journal of the Convergence on Culture Technology
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• v.9 no.6
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• pp.715-720
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• 2023

This study aims to select ESG items from a consumer perspective and examine the influence of these factors on corporate image and corporate reputation. ESG-related research tends to be conducted from a corporate or investment perspective. However, based on their evaluation of ESG activities, consumers form corporate image and corporate reputation. Accordingly, the E, S, and G evaluation items were applied from the consumer's perspective to analyze the impact of each item. As a result of the study, the impact on corporate image was found to be in the order of transparent management, support for small and medium-sized businesses, and response to climate change. The results of corporate reputation analysis showed transparent management, response to climate change, and support for small businesses. From the consumer's perspective, activities related to a company's response to climate change are considered a corporate obligation, and demands for coexistence and transparent corporate management of small and medium-sized businesses are growing. The significance of this study is that ESG requires environmental management, symbiotic management, and transparent management from a consumer point of view, suggesting that transparent corporate management is the most important factor. In addition, it suggests that communication with consumers of companies requires communication not only in the environmental area, but also in the social and governance areas.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.4
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• pp.111-135
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• 2011

While previous studies and publications all assert a strong correlation between company's business plan and performance, very few have actually conducted practical analyses to support that. This study takes a practical approach in its analysis of Korean small and mid-sized enterprises(SME) with the view to finding an answer to the question. In addition, with the considerations of entrepreneur type and company's development stage, I analyzed the differences of business plan components' effects on performances. I selected business plan's components, which have been suggested only in theory and in concept, through the literature review and preliminary examination. Corporate performances were the recent improvements of ROS, ROA, market share and the number of employees to measure how greatly each is impacted by the components of a business plan. Results show that business plan components have influenced upon the number of employees. The business plan components discriminated superior company group and inferior company group properly. Especially, finance & related system and advertising & distribution factors showed statistically significant classification forecasting power. Technical/Craftsman evaluated the effects of producing & sales and profit & quality factors high and General/Opportunistic evaluated the effects of finance & related system, advertising & distribution, corporate mission factors high. The effect of corporate mission was highest among company development stages. Finance & related system and advertising & distribution factors showed the statistically significant difference in entrepreneur type and company development stages.

• Korean small business review
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• v.41 no.1
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• pp.29-51
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• 2019

This study investigates how SMEs' (small and medium-sized enterprises) financing strategies affect firm valuation. Given that information asymmetry is engaged in firm valuation in the stock market, investors interpret the meanings of debt financing depending on how SMEs construct the portfolio of financing strategies (retained earnings vs debt financing), thereby making investment decision. Specifically, given that SMEs' debt financing has two meanings in the market signals, called "benefit" and "cost", this study postulates that firm valuation will be differently made by investors, depending on how they interpret the meanings of debt financing under choice competition between retained earnings and debt financing. In this study, we argue that under choice competition, as a SME's debt proportion increases, the "cost" signal outweighes the "benefit" signal, thereby decreasing firm valuation. Moreover, the effect of such signal can be contingent on the SME's characteristics-firm visibility. These ideas are examined using 363 U.S. SMEs ranging from 1971 to 2010. The fixed-effects models estimating Tobin's q show that under choice competition, a SME's debt proportion has a negative impact on firm valuation and that the firm's high visibility mitigates the effect of "cost" signal. In conclusion, this study sheds new light on how investors' interpretations of SMEs' financing strategies affect firm valuation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.15-26
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• 2015

This paper reviews the theoretical background of the entrepreneurship policy recently prevailing in Korea. First of all, we define the entrepreneurship policy as the one that the government increases the supply of the individual entrepreneurs with entrepreneurship and supports their venture creation activities by intervening the entrepreneurial process. We distinguish the entrepreneurship policy from the small and medium-sized enterprises policy and the venture firm policy. As for the legitimacy of the entrepreneurship policy, we introduce the market for entrepreneur, examine the factors resulting in the market failure, and argue the necessity and the principles of government intervention to the market. Based on the entrepreneurial process, we establish the framework of entrepreneurship policy and examine the transmission channels by the policy area. The channels are (1) demand side, (2) supply side, (3) decision-making of establishing a new firm, (4) resources obtaining. Lastly, according to the transmission channels, we classify various entrepreneurship policy tools being presently implemented by the Korean government. However, since this study is a exploratory economic analysis of entrepreneurship policy, the approach and contents of entrepreneurship policy can be varied according to the research agenda and policy intension.