• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.1 no.2
• /
• pp.157-192
• /
• 2006

Since the late 1990s, the Korean Venture Capital Industry has been remarkably grown in the aspect of quality and quantity. Korean government expects that the Venture company and Venture Capital Industry would contribute to the recovery of depressed Korean economy and restructuring of the high cost and low efficiency economic structure. Korean government reinforces supporting policies for the Venture Capital and Venture Business. Venture Capital is defined as the form of high risk and high profit investment capital growing the small & medium enterprises to competitive ones through capital and management support and collecting the capital. According to the Gompers and Lerners the venture capital cycle consists of raising investment capital, screening the investment opportunity and invest the money. And later, sold the retained stock to the other investor or to the company. This stage called EXIT Consequently, the function of the venture capital, which supply the fund and the business consultation to venture business, have been emphasized and how to effectively run this capital have been recognized as the way to develop the venture business. In this regard, the problem in Korean Venture Capital Market is as follows. First, most of the sources of fund depends on the government support and this conflict with the nature of risk capital because the government capital emphasis the stability than profitability. And secondly, the efficiency of the venture capital system in Korea do not reach that of the advanced countries due to many kinds of restriction and the rack of support. Consequently, the Activation Schemes for Korean Venture Capital Firms are as follows. First, the sources of venture capital need to diversify from angels to institutional investors such as banks, pensions, fund of fund. And Lastly, the internal management and operational system of venture capital companies should be strengthened by quality to that of global Venture Capital Firms.

• The Journal of the Korea Contents Association
• /
• v.13 no.3
• /
• pp.352-361
• /
• 2013

The purpose of this study is to analyse the impact of macroeconomic and non-macroeconomic forces on the management performance of the air transport firms and offer the useful information to the managers. To conduct the regression analysis, eight macroeconomic and non-macroeconomic variables were selected individually as an independent variable. Macroeconomic variables were the return of corporate bond, West Texas Intermediate, the unemployment rate, the money supply, the trade balance, the won to USD exchange rate, the consumer price index and the index of industrial production. And non-macroeconomic variables were Taiwan earthquake, the Asian economic crisis, the 911 terrorist attacks in the US, the Iraq war, Beijing Olympic, the outbreak of a swine flu epidemic, the 1st presidential election and the 2nd presidential election. And ROA was selected as a dependent variable. As the result of analysis, it was found that the changing rates of won to USD exchange rate and consumer price index affected the changing rate of ROA significantly. And also as the result of analysing the impact of two significant macroeconomic variables and eight non-macroeconomic variables on the changing rate of ROA, it was found that the Asian economic crisis and the outbreak of a swine flu epidemic had a negative impact on it. Therefore managers should take note of a change in macroeconomic and non-macroeconomic variables carefully to improve the management performance.

• Journal of Distribution Science
• /
• v.14 no.6
• /
• pp.53-63
• /
• 2016

Purpose - This study examines the effects of the influence strategies on sales representative and headquarter trust, and investigates how sales representative trust plays a mediating role in the relationship between influence strategies and headquarter trust. For these purposes, a structural model which consists of several constructs was developed. In this model, influence strategies that consist of relational influence strategies (information exchange, recommend, promise) and mandatory influence strategies (legal plea, request, threat) were proposed to affect the sales representative trust and in turn, increase the headquarter trust. Thus, this study proposed that sale representative trust plays a core mediating role in the relationship between relational and mandatory influence strategies and headquarter trust in B2B food materials distribution context. Research design, data, and methodology - For these purposes, the authors collected the data from 208 B2B specialized complex agents. We used the 2,200 B2B specialized complex agents which trade with CJ, Ottogi, and Daesang firms and supply food materials to restaurant, school cafeteria, supermarket and traditional market as a sample frame. Once we identified 330 B2B specialized complex agent owners, CEOs, and/or Directors who had agreed to participate in this study, we dropped off a questionnaire at each B2B specialized complex agent and explained the purpose of this study. The survey was conducted from October 1, 2015 to December 15, 2015. A total of 230 questionnaires were collected. Of these collected questionnaires, 28 questionnaires excluded since they had not been fully completed. The data were analyzed using frequency test, reliability test, measurement model analysis, and structural equation modeling with SPSS and SmartPLS 2. Results - First, information exchange, recommendation, and promise of relational influence strategies had positive effects on sales representative trust. The threat of mandatory influence strategies had a negative effect on sales representative trust, but legal plea and request did not have a significant effect on sales representative trust. Second, information exchange and recommendation of relational influence strategies had positive effects on headquarter trust, but promise did not. Also, legal plea, request, and threat of mandatory influence strategies did not have a significant effect on headquarter trust. Third, this findings show that sales representative trust plays a partial mediator between information exchange and headquarter trust, and threat and headquarter trust, and a full mediator between promise and headquarter trust, and recommendation and headquarter trust. Conclusions - The aim of this study was to examine the effects how diverse dimensions of relational and mandatory influence strategies relate to sales representative trust and headquarter trust. To do so, we integrated the influence strategies and the trust transfer theory to hypothesize that various influence strategies increase sales representative and headquarter trust. The findings of this study suggest that headquarter firms should establish and enforce proper influence strategies guidelines to make clear what proper actions sales representatives should implement in relationship with B2B specialized complex agents. Also, relational and mandatory influence strategies must be regarded as a long-term and ongoing strategy that eventually build a long-term orientation with B2B specialized complex agents and guarantee a company's sustainable growth and success.

• International Commerce and Information Review
• /
• v.14 no.2
• /
• pp.29-52
• /
• 2012

Since diplomatic relations with China in 1992, many Korean companies have entered into China and that expansion is currently continuing. But now, many of Korean enterprises tend to withdraw and return to the domestic, this is because that major factors are too much fast increasing in labor costs and the difficulty of local workforce management. In this study, it is researched that the type of human resource management of Korean firms entering into Heilongjiang Province, Harbin and the similarities and differences were investigated by comparing the form of personnel management of existing areas and Harbin area, and then this study was conducted the survey and interview of domestic companies operating in Harbin, to pursuit the efficient way to manage the workforce development and management strategies. The result of researches and workforce development strategies of entering firms are as follows; First, it is required to establish a human resource discovery system for entering companies in focusing on managerial work ability and on blue-collar which is separated by professional and technical experts and a simple blue-collar people. Second, it is required to entering companies that they have to grow up the promotion and exchange of the Department of Korean Studies in Harbin and have to build the industry and universities training programs to promote needed experts, and have to establish the expert pool systems to support the flexible labor supply.

• Journal of Food Hygiene and Safety
• /
• v.27 no.4
• /
• pp.339-348
• /
• 2012

The purpose of this study is to predict the economic size of foods-for-elderly market, which will be valuable information for establishing related policy and backup system. After setting the scope of related industry, detailed information for current market situation was investigated and a systematic forecast for market changes in the future was performed. Economic growth, changes in consumer expenditure and economic status of the elderly, current subscription of medical insurance and saving for pension were reflected. In addition, a survey toward related firms was completed and changes in aged population and incidence of chronic disease in the elderly were taken into account. Results show that the annual growth rate of the market was predicted to be the minimum 4.54% through the maximum 8.32% from 2010 to 2025 and its market size was forecasted to be the minimum 7,073 ten million won through the maximum 10,976 ten million won. It is expected that the market of foods-for-elderly will grow rapidly with development of foods technology and fast increase of aged population. Especially, growth of health functional foods and foods for special dietary uses for elderly will be distinguished. However, it seems that related firms are on the hedge, watching current trend of the related industry. This may results in insufficient supply against the demand. Therefore, policy for foods-for-elderly should be introduced and systematically administered, including R&D support, standardization and authentication for foods-for-elderly, construction of related database system.

• International Area Studies Review
• /
• v.13 no.2
• /
• pp.311-368
• /
• 2009

In order to survive the on-going natural resource war, Korea needs various efforts such as enhancing self-exploitation ratio, increasing the supply of new-reuse energy, strengthening cooperation with resource rich countries. Central Asian countries are geometrically far away from Korea. However, Korea should try to develop political, economic and ethnic relationship with those countries into much higher dimension to secure various natural resources. Major countries including U.S., EU. Japan and China are approaching Central Asian countries with long term perspective. Improving country-image through enlargement of ODA is the first concern of those countries. Korea should try to follow their practices. Government should try to improve Korea's image in the first place and lead economic cooperation with very detailed supportive measures to induce Korean firms' investment into the Central Asian countries. In the due process, a lot of information about those countries' political climate, social situation, ethnical composition, major religions, educational system, current state and structure of economies and industries, etc should be made available to Korean firms.

• Journal of Distribution Science
• /
• v.14 no.5
• /
• pp.71-80
• /
• 2016

Purpose - In case of automobile parts, there has been a lot of progress in the study on supplier development plans and SCM in industrial progress study as well as on the relationship between ERP and SCM. But supplier development program providers have researched on SCM performance in accordance with the interests of the supplier development program most, thus, buyers were knowledgeable about the earlier program performance. Therefore, the purpose of this study is to prove correlation factor, supplier factor, purchaser factor affecting SCM performance and ERP activating diffusion through the process of supplier development. Supplier development maturity formation model is considered important variables as mediators related to the procedure. Finally, the performance formation model of the supplier development maturity through supplier development factor would be presented as the outcome of this study. Research design, data, and methodology - Data gathering was as follows: questionnaires were delivered to 87 companies that have business connection with H Company. The empirical research to test our hypothesis was grounded on statistical analysis (adapting SPSS 19.0 & AMOS 19.0). The hypothesis is that the supplier development factor variables consist of correlation factor, supplier factor, purchaser factor, and have non-negative effects on the next variables: mediators such as supplier development maturity; and the supplier development maturity variables have a positive effect on the next variables: ERP activating diffusion, ERP activating diffusion has a non-negative effect on supply chain performance. We experimented the hypothesized model using path analysis with latent variables. Results - First, it was known that cooperation

, reliability

, comprehension on the purpose of SDP

, adaptation of change

, knowledge transfer program

, have significant positive effects on supplier development maturity. Second, supplier development maturity has positive effects significantly on ERP activating diffusion

. Finally, the causal relationships from ERP activating diffusion to SCM performance were significantly accepted. Its significance, as through the hypotheses, presented a structural model for the elaboration, suppliers develop maturity, and ultimately SCM performance that affect ERP leveraging spread beyond the concept of maturity of information system. Therefore, it was a mainstay of research on the existing ERP has they believed. Conclusion - First, with the fast changes in business circumstances, company should get the right information to implement SCM appropriately. For successful SCM, firms should understand the supplier development maturity formation and ERP activating diffusion. Second, supplier development factor has significant effects on supplier development maturity. Third, mediator such as supplier development maturity significantly affects ERP activating diffusion. Finally, ERP activating diffusion has significant impacts on SCM performance. This study makes a meaningful contribution to further appreciation on how supplier development maturity formation affects SCM performance. This study shows implications. First, there would not have been dealt with introducing the concept of supplier development maturity. Second, through empirical analysis and provider factors, the providers will develop the maturity that affect interactive factors between purchaser and supplier.

• International Commerce and Information Review
• /
• v.18 no.2
• /
• pp.131-150
• /
• 2016

As global partnership is recently getting important in order to establish supply chain network in global managing environment, companies tend to improve quality and warranty in SCM(Supply Chain Management) by certifying ISO(International Organization for Standardization). This research investigated structural relationship how strategic and operational ISO application level and trust, immersion, collaborative factors in partnership process affect to companies business performance. This research was surveyed with 147 manufacturing companies in South Korea and conducted empirical analysis using Structural equation model. The research hypothesis and model was derived from the basis of existing theory and empirical research, and obtained the following results. Firstly, the strategic ISO level showed positive(+) effect on trust and immersion factor. Second, the operational ISO level showed positive(+) effect on trust and collaborative factor. Third, trust factor in the partnership process showed positive(+) effect on immersion factor. Lastly, collaborative factor in partnership process showed positive(+) effect on companies business performance. Implication for this research is that companies must consider ISO application in establishing partnership and companies require prolonged effort using trust, immersing, collaborative factors into partnership process to improve business performance.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.9
• /
• pp.446-453
• /
• 2018

This study analyzed the effect of related party transactions on the corporate value of Korean firms using panel data regression analysis. We tested the efficient transaction hypothesis and conflict of interests hypothesis which concern related party transactions. Five types of related party transactions were considered, including long term supply contracts, assets and business transfers, affiliate loans, equity investment, and credit offerings. If related party transactions were conducted for the purpose of enhancing corporate efficiency, results would have a positive effect on firm value. If related party transactions were conducted for the purpose of private profits of the controlling shareholders, the results would show a negative effect on firm value. Results were as follows. Firstly, it is confirmed that affiliate loans, equity investment, and credit offerings had negative effects on firm value. This implies that these types of related party transactions used by controlling shareholders for the purpose of their private profit, which supports the conflict of interests hypothesis. Secondly, it was found that long term supply contracts and assets and business transfers had no effect on firm value.

• Journal of Digital Convergence
• /
• v.11 no.12
• /
• pp.275-285
• /
• 2013

As the world economy has been changed into the knowledge-based society, all economic activities have globalized and intensified competition in the marketplace, and the forces of these changes are even more aggressively pressuring today's business. According to many businesses are focused on the core competence and various functions are outsourced by service providers, many firms pay heavily attention to business service. Although the importance of business service, domestic business service industry shows a low labor productivity. On the other hand, foreign business service companies in korea take a substantial portion of business service market. Thus, domestic business service needs to increase a competitiveness because of potential growth opportunities. This study attempts to find out the ripple effect of business service industry on other industry.