• STI Policy Review
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• v.4 no.1
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• pp.74-93
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• 2013

Although open innovation (OI) has been an important research theme for over a decade, its theoretical framework has been relatively under-researched. As OI involves a wide range of innovation activities, a firm's capacities in the use of the various firm resources play a critical role in OI implementation. However, it is unclear how they affect firms' performances for little is known of OI capacities. Based on a theoretical framework derived from the literature, this study looks into the relationships between six OI capacities (inventive, absorptive, transformative, connective, innovative, and desorptive) and financial performance using the Korean Innovation Survey (KIS) 2008 data. The research model was tested using structural equation modelling (SEM) while potential differences in capacities between different firm groups were also investigated. The results indicate that 1) OI capacities are significantly associated with firms' financial performance; 2) capacities are highly correlated with one another; and 3) some capacities are differently configured between different types of firms. Findings suggest that policy makers should pay more attention to helping firms enhance OI capacities and attempt to develop relevant policies in order to complement inadequate capacities.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.79-89
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• 2021

Green finance plays an important role in environmental protection missions and fighting climate change. The Environment Fund in Vietnam is the main channel of preferential capital offered to firms for environmental protection. Unfortunately, it was previously unknown which criteria influenced these companies' ability to obtain green financing. Using a survey method, we collected data through a structured questionnaire of 203 respondents that represent firms that had received concessional loans from 26 Environment Funds. A Multiple Linear Regression model was used to examine the determinants of access to concessional loans for environmental protection. We found relationships between age, size, ownership type, and industry sector, and access to green finance. Third-party guarantees were a significant factor in financing through Environment Funds. Moreover, we found commercial environmental projects face fewer green financing obstacles. Surprisingly, showing audited financial statements does not mitigate the information asymmetry between firms and these financial institutions. These findings suggest that Environment Funds should classify environmental project types to develop appropriate lending policies. In emerging markets, enterprises need to build a trusted relationship with financial institutions so that they can replace asset-based lending techniques, thereby increasing the firms' accessibility to green finance.

• Journal of Korea Society of Digital Industry and Information Management
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• v.12 no.2
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• pp.73-86
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• 2016

The purpose of this study is to examine a security investment for firms experienced in confidential information leak. Information security is an apparatus for protection of secret information. The competence of information security is a competitiveness to avoid information leakage in changing business environment. The type of information security is divided into administrative security, technical security and physical security. It is necessary to improve the incident correspondence competence through information security investment of the three types. Therefore, the investment of information security is to enhance information-asset protection of firms. To reinforce accident response competence, an organization discussed an establishment, security technology development, expand investment and legal system of the security system. I have studied empirically targeting the only information leak of firms. This data is a technical security competence and technology leakage situation of firms happened in 2010. During recovery of the DDos virus damage on countries, company and individual, the collected data signify a reality of information security. The data also identify a security competence of firms worrying information security management. According to the study, the continuous investment of information security has a high competence of accident correspondence. In addition, the most of security accidents showed a copy and stealing of paper and computer files. Firm on appropriate security investment is an accident correspondence competence higher than no security investment regardless of a large, small and medium-sized, and venture firm. Furthermore, the rational security investment should choose the three security type consideration for firm size.

• Journal of Technology Innovation
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• v.17 no.1
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• pp.49-67
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• 2009

As technological capabilities have enhanced, the patterns of innovation activities of latecomer firms changed to post catch-up mode. The purpose of this research is to analyze the post catch-up innovation patterns of technology-intensive small and medium firms of Korea. The innovation patterns can be divided into three types: the technology deepening innovation type, the new technology based innovation type and the architectural innovation type. The characteristics of the technology deepening innovation type are cumulative technological learning and the integration of new generic technology and existing technologies. The characteristics of new technology based type are the acquisition and revelations of new basic knowledges from former incubating organizations such as large firms and universities. The characteristics of the architectural innovation type are the learning of system architecture knowledge from former organization and interactive learning with user firms. These post catch up innovations also have some general characteristics. They effectively exploited the windows of opportunities which are opened in the middle of technological paradigm change.

• Management & Information Systems Review
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• v.28 no.2
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• pp.95-112
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• 2009

The paper investigates the determinants of firm's standardization activity in the Korean service industry. Standardization variables as dependent ones are standardization management at the firm level, domestic standardization activity, and international standardization activity. The independent variables include innovative activities(R&D intensity and patent application), firm size, export ratio, network, and firm's organization characteristics. We estimated the logistic regression model, using the data from 102 Korean service firms. The empirical findings are as follows. First, R&D intensity has a positive effect on international standardization activity, but not on the standardization management at the firm level and domestic standardization activity. Second, patent application has a negative effect on the standardization management at the firm level. Third, firm size doesn't have any influence on firms' standardization activities in the service sector. Fourth, the level of chief executive officer's interest on standardization is a very important factor in determining firms' efforts to participate standardization process, regardless of types of standardization activity.

• Korean Journal of Construction Engineering and Management
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• v.6 no.2 s.24
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• pp.102-110
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• 2005

After the IMF bailout, the Environment of Domestic Construction Industry had changed dramatically. Before the IMF, Domestic Construction Firms are secured by the government regulations and some traditional practices. However, due to the following reasons: a decrease in public works, an increase in uncertainty of market prediction, the change of bid system, and increase in construction firms, recently the competition among construction firms has became keen. Under the serious competition, in order that medium-size construction firms survive in the construction market, it is need to establish the strategy that could increase productivity. In order to establish the strategy, firstly, construction firms should set up an appraisal standard of construction firms. Consequently, This study will introduce companies' objective appraisal in domestic construction market as well as basal data for setting-up strategy through adaptation industry structure analysis of business administration for strategic group analysis and a company which has lagged behind competitive power among the competitive companies can choose a target strategic group which should be pursued it in the future through being classified according to a group taken analogical strategy.

• Journal of the Korean Geographical Society
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• v.29 no.2
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• pp.117-136
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• 1994

Contemporary global space economy is so dynamic that any one specific structural force can not explain the whole dynamic processes or trajectories of spatial industrial development. The major purpose of this paper is extending the traditional notion of industrial districts to functioning and development of new industrial districts with relation to the development of high technology industries. Several dynamic forces, which are dominated in new industrial districts in the modern space economy, are incorporated in the formation and dynamic aspects of new industrial districts. Even though key forces governing Marshallian industrial district are localization of small firms, division of labor between firms, constructive cooperation, and industrial atmosphere, Marshall points out a possibility of growing importance of large firms and non-local networks in the districts with changes of external environments. Some of Italian industrial districts can be regarded as Marshallian industrial districts in broader context, but the role of local authorities or institutions and local embeddedness seem to be more important in the Italian industrial districts. More critical implication form the review of Marshallian industrial districts and Italian industrial districts is that the industrial districts are not a static concept but a dynamic one: small firm based industrial districts can be regarded as only a specific feature evolved over time. Dynamic aspects of new industrial districts are resulting from coexistence of contrasting forces governing the functioning and formation of the districts in contemporary global space economy. The contrasting forces governing new industrial districts are coexistence of flexible and mass production systems, local and global networks, local and non-local embeddedness, and small and large firms. Because of these coexistence of contrasting forces, there are various types of new industrial districts. Nine types of industrial districts are identified based on local/non-local networks and intensity of networks in both suppliers and customers linkages. The different types of new industrial districts are described by differences in production systems, embeddedness, governance, cooperation and competition, and institutional factors. Out of nine types of industrial districts, four types - Marshallian; suppliers hub and spoke; customers hub and spoke; and satellite - are regarded as distinctive new industrial districts and four additional types - advanced hub and spoke types (suppliers and customers) and mature satellites (suppliers and customers) - can be evolved from the distinctive types and may be regarded as hybrid types. The last one - pioneering high technology industrial district - can be developed from the advanced hub and spoke types and this type is a most advanced modern industrial district in the era of globalization and high technology. The dynamic aspects of the districts are related with the coexistence of the contrasting forces in the contemporary global space economy. However, the development trajectory is not a natural one and not all the industrial districts can develop to the other hybrid types. Traditionally, localization of industries was developed by historical chances. In the process of high technology industrial development in contemporary global space economy, however, policy and strategies are critical for the formation and evolution of new industrial districts. It needs formation of supportive tissues of institutions for evolution of dyamic pattern of high technology related new industrial districts. Some of the original distinctive types of new industrial districts can not follow the path or trajectory suggested in this paper and may be declined without advancing, if there is no formation of supportive social structure or policy. Provision of information infrastructure and diffusion of an entrepreneurship through the positive supports of local government, public institutions, universities, trade associations and industry associations are important for the evolution of the dynamic new industrial districts. Reduction of sunk costs through the supports for training and retraining of skilled labor, the formation of flexible labor markets, and the establishment of cheap and available telecommunication networks is also regarded as a significant strategies for dynamic progress of new industrial districts in the era of high technology industrial development. In addition, development of intensive international networks in production, technology and information is important policy issue for formation and evolution of the new industrial districts which are related with high technology industrial development.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.421-437
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• 2009

China has transformed her strategies for economic development from exogenous development founded on foreign capitals to endogenous development based on enhancing technology innovation capabilities since 2000. More specifically, Chinese business activities have coupled with new institutional settings which enable them to facilitate advanced technology and management methods. As a result, the characteristics of the spatial economy in China are likely to transfer from export-led developmental space to technology-oriented developmental space. In this context, this paper aims to identify the characteristics of technology-oriented space by investigating intra-, inter- and extra-firms relations of Korean FDI firms in Shanghai, China. In terms of intra-firm relations, Korean FDI firms adopted strategies for maximizing business efficiency and effectiveness by transforming their personal networks into formal networks. In terms of inter-firm relations, the distinction of Korean FDI firms' networks has been found in accordance with firm size, industrial sectors, ways of investment etc. Finally, Korean FDI firms has formal networks resulted from institutional involvement, as well as informal (personal) networks based on guanxi (inter-personal relations) in extra-firm relations. Therefore, two types of processes affecting the networks and institutional legacies of the Soviet system can be identified. First is the interaction of institutions and restructuring of pre-existing networks. Second is the insulated institutions and endurance of preexisting networks. And these two governance types have created regional economies which are embedded and over-embedded.

• Management & Information Systems Review
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• v.34 no.3
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• pp.125-140
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• 2015

KOSDAQ market reorganized their division system from two types to four types of division departments such as blue chip, venture, medium, and technology development departments in 2011. However, under the current new division system, financially unhealthy firms attempting to take advantage of the classifying opportunity of blue chip department are likely to engage in pernicious earnings management. The objective of this study is to investigate the earnings management behavior surrounding the time of KOSDAQ firms entering the blue chip department via new division system. More specifically, we test whether the firms classified blue chip department tend to engage in upward earnings management using accruals and real activities before and after they achieve blue chip status. In this study, we analyzed 111 firms classified blue chip department in 2011 according to new division system in KOSDAQ market. Major test results indicate that firms entering the blue chip department according to current KOSDAQ division system in general, tend to inflate reported earnings by means both of accruals and real activities right before the entering year. This result suggests that the firms classified blue chip department engage in opportunistic earnings management with a view to uplifting their market values. Our study is expected to provide clues useful for searching policy directions which intend to ameliorate adverse side effects of the current KOSDAQ division system. In sum, the regulatory authorities and enforcement bodies need to exercise caution in deliberating more stringent review procedures so that financially healthy and promising candidates are properly segregated from their poor and risky counterparts, thus enhancing the beneficial effects, while mitigating adverse side effects of the system.

• The Journal of the Korea Contents Association
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• v.11 no.3
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• pp.339-350
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• 2011

This study empirically investigates applicable possibility of open technology innovation with which the government is concerned, by figuring out the relationship between firms' innovation behaviors and innovation outputs and their utilization of information network. Empirical methodology was employed as logit regression to explain firms' innovation behaviors and the data set includes more than 2500 firms in the manufacturing sectors. First, empirical findings showed that firms' innovation competencies and behaviors can be explained as the trend of patent application, sales and innovation outputs significantly. The patents of small and medium-sized businesses are inclined to be positive to information sources of university and government-supported research institute and the sales increased when they had labs to concentrate on R&D. On the other hand, the existence of labor union turn out to be negative to their sales. Second, the types of information network which firms utilize turned out to be connected with their innovation behaviors and purposes. Third, four types of innovation, i.e., product, process, organization, and marketing innovation was employed and innovation behaviors and outputs are well connected.