• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.11-22
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• 2022

The iron and steel sector is caught between two worlds: "carbon reduction" and "development." The goal of this study is to show that optimizing asset structure to boost intangible assets, particularly brand assets, is a viable strategy to achieve low-carbon development. This study uses panel data from 38 A-share companies in China's iron and steel industry from 2010 to 2020, as well as World Brand Lab data, to create a comprehensive impact index of enterprise value from the standpoint of an asset structure optimization, and to test the impact of intangible assets and brand equity on enterprise value. The findings show that: the asset structure of iron and steel enterprises is closely related to enterprise value, implying that iron and steel industry development necessitates a transformation of quantity control and quality improvement; the proportion of intangible assets in the asset structure of iron and steel enterprises plays a positive and critical role in enterprise value under surplus conditions. The iron and steel industry begins to shift from tangible to intangible assets; there is heterogeneity in the iron and steel industry transformation. Given certain technological levels, the share of brand assets contributes significantly to the increase in enterprise value.

• Journal of Digital Convergence
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• v.13 no.4
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• pp.115-125
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• 2015

The purpose of this study is to empirically examines the effects of corporate sustainable management activities(social activity, economic activity, environmental activity) on the innovation activities(managerial innovation, technical innovation) in the convergence era. To accomplish these purposes, their relationships were modeled based on the previous studies conducted in the various areas. A total of 500 questionnaires were distributed to the employees working at the small & medium size companies. The statistical techniques such as descriptive analysis, reliability analysis, factor analysis, correlation analysis, multi regression analysis were used to evaluate the research model. The results of multi regression analysis show that all three aspects of corporate sustainable management activities have positively significant effects on the two factors of innovation. That is, if each activities of sustainable management works properly, it leads to create innovation. In addition, enterprises are needed to develop training programs or action planning that make the employees understands sustainable management well. Thus, the advanced level of corporate sustainability is expected if various sustainable management activities are performed in harmony with their innovation activities.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.465-495
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• 2011

Domestic franchised businesses have been showing relatively fast growth, but the growth is expected to slow down as in those developed countries. In face of this changing market environment, domestic franchisers will have to turn their eyes abroad to achieve sustainable growth. On the other hand, more international franchisors could pursue expanding into the Korean market due to economic or strategic reasons in their home countries. In general, enterprises are faced with several barriers when entering foreign markets by franchising their operation. Issues relating to such entry barriers can be broadly classified into legal and managerial. To begin, international franchising necessitates enterprises to handle various aspects of legal issues. There are no internationally unified rules for franchise agreements as in international goods purchase contracts. This forces franchisors to have deep knowledge of concerned regulations and practices of each of the individual target countries, in particular franchising practices which differ from those of their own countries in terms of rights and obligations of the involved parties. Having regard to this situation, this study reviewed the EU's PEL CAFDC and other domestic and overseas regulations governing franchising. From the results, several contractual obligations were derived that need to be taken into account when handling the issues around the international franchise agreement. In closing this paper mainly having in mind enterprises in various business lines seeking to expand into international franchising, some unmet needs are worth commenting. First, there is an urgent need to establish practical guidelines along with the model agreement addressing the issues of international franchising in the absence of any unified international rules. Second, to meet the first need above, it is needed that the relevant authorities conduct a comprehensive review of the existing franchising regulations available across overseas countries and, based on the results, embark on gathering good common elements in the existing franchising regulations in individual countries, ultimately developing the best possible guidelines and examples.

• Journal of the Korea Convergence Society
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• v.7 no.5
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• pp.161-167
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• 2016

Distribution channels are changing its industry paradigm from quantitative increase to qualitative improvement. In addition, it incorporates new characteristics and consumption tread of customers and the core value of service is developing focused around on online to offline (O2O) business model of omnichannel. In this respect, companies are integrating various distribution channels and in order to provide high content business service to customers, their interest in finding a new business strategy is increasing. Currently, most of the service being provided to customers are formed based on distribution structure centered around big companies and financial industry and the problems faced by small to medium and micro enterprises, which are expansion and improvement of channels, discovery of new distribution channels and finding O2O marketing strategy, can be said as very important task. Accordingly, this research purports to create added values which can serve as the driving force of growth of "creative economy" by improving distribution channels in which anyone who incorporates needs of smart consumers can enter into the smart commerce market and to further form sustainable win-win market that is strategic through business platforms for small to medium and micro enterprises therefrom.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.25-34
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• 2012

It is expected reasonably that firms are likely to be motivated to engage in cooperate social responsibility(CSR) more effectively and efficiently in order for sustainable growth when partnerships on supply chain are willing to embrace the initiative for CSR actively rather than a firm's effort. Given that this is a SCM(Supply Chain Management) approach to CSR, the SC-CSR(Cooperate Social Responsibility in Supply Chain), which encourage all partners on supply chain to apply it, can provide larger social impact. This study is to verify the effect of SC-SCR on the willingness to initiate CSR in small and medium-sized enterprises. As a result of empirical analysis, the application of SC-SCR has positive effect on the willingness of small and medium-sized enterprises to initiate social responsibility by promoting the situational needs. This results indicates that helping firms observe ISO 26000, the recognized international standard for CSR, the motivation for SCR can be reinforced by making partners on supply chain respect CSR.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.1-9
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• 2021

The purpose of this study is to present the necessary success strategies for the social economy ecosystem and social enterprise stakeholders by empirically examining the structural relationship of factors that affect the sustainable dual performance of social enterprises. Through previous studies, hypotheses and research models were established for the performance factors of social enterprises, and hypothesis testing was performed using PLS-Structural Equation Modeling on 92 sample data collected from the survey. As a result of the analysis, it was found that the social mission, customer orientation, and social network set as performance factors all had a significant positive (+) effect on social performance. In addition, social performance had a significant (+) effect on economic performance by mediating customer orientation and social network excluding social mission, and it was found that the business model strengthened this relationship. In addition to the theoretical significance of demonstrating the structural influence of social enterprise performance factors through this study, practical implications can be found in that it suggests factors that social entrepreneurs should focus on for growth and performance creation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.407-417
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• 2021

This study aims to establish the relationship between the Green Marketing Orientation (GMO) variables and the performance of Green Small and Medium Enterprises (GSMEs) across the building and energy sectors in Malaysia, using customer satisfaction as a means of performance measurement. The GMO variables examined include Greening the Process (GTP), Green Supply Chain Management (GSCM), Green Strategic Policy Initiatives (GSPI), Proactive Energy Conservation (PEC) and Green Promotion (GP). The items used to measure these variables were extracted from literature and adapted to the context of the variables based on feedback from Focus Group Discussions and Expert Opinion sessions. This study employs a survey sample of 300 respondents but only 238 completed questionnaires were returned. The results reveal that GTP, GSCM and PEC have a positive impact on Customer Satisfaction but not GSPI and GP. The findings suggest that owners or managers of GSMEs should focus on maintaining and improving GTP, GSCM and PEC in order to create greater satisfaction among their customers. The significance of this study is that it enables the creation of a framework that enables GSMEs to design a pathway towards achieving a cleaner production of goods and services in line with United Nations Sustainable Development Goals.

• The Journal of Information Systems
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• v.31 no.1
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• pp.197-218
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• 2022

Purpose This study examines the roles of firm-level smart factory implementation in the relationship between organizational competence and organizational performance in the context of Korean small and medium Enterprises (SMEs). To achieve this goal, this study presents and empirically tests a research model with evaluation data conducted by industrial experts on how organizational competence can be exploited to positively influence organizational performance through smart factory implementation. Design/methodology/approach Organizational competence are based on the research construct developed by Odważny et al.(2018). Research constructs on smart factory are based on the measurement model developed by Korea Technology and Information Promotion Agency for Korea small and medium Enterprises (TIPA) (2020) and organizational performance are based on the performance construct developed by Kwon(2019). To complete the investigation, we collected 31 firm data conducted by industrial experts in Korea from Dec 2018 to Dec 2020. Most of firm was implemented officially by government budget granted for smart factory of Korea SMEs. To test our hypotheses, partial least squares (PLS) method was employed. Findings The findings indicate that organizational competence is antecedent to influence smart factory implementation, while smart factory implementation has significant relationship with organizational performance. This study provides a better understanding of the connection between organizational competence and organizational performance through smart factory implementation. So companies should focus on enhancing organizational competence and implementing smart factory to obtain sustainable competitiveness.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.3
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• pp.186-196
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• 2022

In recent years, ESG activities (Environment, Social and Governance) have been paid more and more attention by enterprises and their stakeholders in various countries. China is the largest developing country in the world. The ESG performance of Chinese listed enterprises helps to understand the shortcomings of their sustainable development ability and further enhance the firm value. Moreover, the interaction effect between green innovation investment and ESG activities is of great significance for enterprises to balance the resource allocation between the two factors in the future. Taking listed Chinese manufacturing companies from 2011 to 2020 as an example, this study investigates the influence of ESG activities on financial performance and non-financial performance, and tests the moderating role of green innovation. Our results show that: (1) ESG performance has a negative impact on financial performance; (2) ESG performance has a positive impact on non-financial performance; (3) Green innovation can positively adjust the negative impact of environmental activities on financial performance. However, it will enhance the negative impact of governance activities on financial performance. The interaction effect between green innovation and social activities on corporate financial performance is a substitution effect; (4) With the improvement of green innovation level, the positive impact of ESG overall performance and environmental performance on corporate reputation will also be suppressed.

• Korea Trade Review
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• v.42 no.5
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• pp.233-252
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• 2017

The fast changes of global financial environment in recent years increase the risk of trade settlement. This means are required to minimize risk of non payment and to maximize secure payment. Open Account trade accounts for 90% of global trade flows. The O/A system means that the goods, along with all the necessary documents, are shipped and delivered before payment is due, usually within a time frame from 30 to 90 days. Meanwhile, Korean small and medium-sized export enterprises are compelled to globalize their activities owing to limitation and competitiveness of domestic marketplace. To keep face with the global trade settlement system and to support globalization of small and medium-sized export firms, the BPO together with Supply Chain Finance will be solutions. The introduction of the BPO system will allow banks to broaden O/A offerings to their client base and due to secure safety, sellers could ship the goods without delay according to orders and buyers could settle promptly by payment undertaking of correspondent banks. Therefore, it is more effective for companies which have sustainable customers and stable transaction. This study take a look at the trend of the global payment systems and suggested limitation of existed payment in order to derive improvement measures of electronic payment for small and medium-sized export enterprises.