• Journal of Korea Trade
• /
• v.25 no.7
• /
• pp.19-40
• /
• 2021

Purpose - This paper's purpose is to investigate how foreign ownership and innovation affect firm value. Design/methodology - Firm innovation is defined as operational efficiency, which is calculated by adopting data envelopment analysis (DEA). Additionally, R&D intensity is included as a measure of innovation in the analysis. We used firm-level data from manufacturing companies in Korea. The sample comprised 3,753 firm-year observations for every year in the period 2003-2017. Findings - We found that foreign ownership and innovation are positively related to firm value (Tobin's Q). Foreign ownership moderates innovation's contribution to firm value, implying that foreign ownership may enhance the value relevance of firm innovation. In addition, we found that firm innovation partially mediates the relationship between foreign ownership and firm value. Originality/value - This highlights the important role of foreign investors' monitoring; wherein foreign investors enhance firm value by facilitating firm innovation. Our results suggest that foreign ownership can be crucial for innovation and may serve to address weak ownership structures.

• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2010.11a
• /
• pp.203-212
• /
• 2010

Examining the relation between market structure and the value of innovation is important for competition and STI policy. If the value is large in a specific industry structure, government may lead the industry to take that form to enhance innovation. Our simple calibration in the case of linear demand and constant MC results in the conclusion that the incentive for R&D in the case of major and minor innovation in Cournot competition is less than that of merger and cooperative R&D. This emphasizes again "necessary evil" as a monopoly for innovation.

• Korean Institute of Interior Design Journal
• /
• v.14 no.5 s.52
• /
• pp.123-132
• /
• 2005

The 21th century is rapidly turning to the era of supernational competition aimed at global customers. Under these circumstances, applying the value innovation to space which will be in charge of value creation is recognized as being essential to life. This study aims to newly define the conception, the viewpoint, and types on applying the value innovation to space, which has not been established logically yet. The purpose of analyzing cases where the innovation was applied at home and abroad is to provide basic logic to establish these concepts in real space design. This study is prospected to be the core strategy of growth cause for maintaining our industrial development, so it is suggested that accepting, widening, and developing it may enable us to prepare for the continued innovation to space.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.16 no.3
• /
• pp.1824-1831
• /
• 2015

This study diagnosed the innovation capability of SMEs by utilizing the VIQ(Value Innovation Quotient) and deduced the innovation strategy. VIQ is the diagnosis tool for measuring the innovation capability of the SMEs focusing on the value innovation. SMEs can utilize this tool for diagnosis and deduce the innovation strategy. This study selected the high-growth venture company- K company and analyse it and deduced the innovation strategy. Innovation strategy can be as follows; Firstly, agile strategy formulation tool such as business intelligence and scenario planning should be adopted for the flexible business planning. Secondly, speedy decision making process should be made. Thirdly, open communication and empowerment process should be made. This paper can present the method of evaluating and diagnosis of value innovation capability of SMEs and innovation strategy formulation process.

• Journal of Korea Society of Industrial Information Systems
• /
• v.22 no.4
• /
• pp.29-43
• /
• 2017

Innovation Cosystems are Conceptualized as Organizational Networks of Economic Actors, Technologies and Social Contexts that Interact for Knowledge Production, use, and Adaptation. This Paper Proposed a Conceptual Framework to Describe Value Co-creation of Organizational Networks Engaged in Technology Innovation. We Adopted Theory-Based Approach by Integrating the Perspective of Service-Dominant (S-D) Logic Into the Evolutionary Model of the Triple Helix. The Framework Gives a Plausible Explanation on how Actors Collaborate to Create Value in Dynamic Contexts of an Innovation Ecosystem. The Innovation Ecosystem can be Considered as a Composite of Sub-Ecosystems, Including Knowledge, Sectoral, and Business Ecosystems. When these Sub-Ecosystems are Recursively Transformed by Coordination of Functional Mechanisms that Serve Value Co-creation in the Innovation Process, the Innovation Ecosystem will be Re-Organized and Evolve. The case of the Digital Living Network Alliance (DLNA) was Examined to Demonstrate the Fundamental Mechanisms for Value Co-creation that was Described in the Framework. The case Study Indicates Features of Value Co-creation when Implementing Innovation in Organizational Networks.

• Journal of Digital Convergence
• /
• v.11 no.4
• /
• pp.153-164
• /
• 2013

Business model innovation creates differentiated value to customers by transforming various elements of doing business. Rather than focusing singularly on either the external or internal environment, the business model innovation aims to identify the optimal combination of internal resources, competence, and the external factors, such as customer's needs and new opportunity. However, due to lack of clear definition of business model innovation, and inability to generate company's core business model, business model innovation has been difficult for companies to lead next growth. This paper reviews existing definitions of business model innovation and explore existing types of business model innovation and timing of business model innovation through two case studies. Concept of business model innovation which we identify, is composed of value proposition, value creation through value chains and networks, and profit model innovation. Finally, we demonstrates that already successful businesses can also create new values through business model innovation and adaptive advantage, even in a rapidly changing market environment.

• Asian Journal of Innovation and Policy
• /
• v.2 no.2
• /
• pp.212-239
• /
• 2013

This paper clarifies the change in international technology standardization as a change in innovation. The change comes to be shown in how to take the consensus standard. The tendency to standardize the systematized concept is a rather arduous and complex endeavor. This paper focuses on Mitsubishi Electric Corporation as such a case. The results interpreted from the approach of closed innovation, open innovation, and social innovation. The following findings are clarified by. 1) The consensus standardization is open innovation in which the enterprise creates value. 2) When the value creation is large, the possibility of the maximization of such value capture that achieves the earnings acquisition can be improved. 3. The innovation of the consensus standardization is reciprocal for the stakeholder. The possibility for open and social innovation to supplement the success in innovation mutual and to achieve an effect is suggested.

• Journal of Korea Technology Innovation Society
• /
• v.14 no.2
• /
• pp.246-259
• /
• 2011

Examining the relation between market structure and the value of innovation is important for competition and STI policy. If the value is large in a specific industry structure, government may lead the industry to take that form to enhance innovation. Our simple calibration in the case of linear demand and constant Me results in the conclusion that the incentive for R&D in the case of major and minor innovation in Cournot competition is less than that of merger and cooperative R&D. This emphasizes again "necessary evil" as a monopoly for innovation.

• Journal of Information Technology Services
• /
• v.13 no.1
• /
• pp.253-267
• /
• 2014

This study explores to identify the characteristics of the business model by comparing and analyzing the value creation between two cases, and to be successful in business model innovation. In order for the pursuit of purposes, domestic and international firm' business model cases are analyzed. Regarding the business model innovation, huge differences are found between two cases. First, a clear customer value proposal is important. Netflix is constantly monitoring the customer's needs and satisfactions to improve value proposition, while Joycube, domestic firm does not adjust to meet the change of the customer's behaviors. Second, the business model innovation should be taking into account the customer's behaviors in the constant changing market environments. For the growth, firms should consider strategic monitoring the market environments, and find a novelty of the markets, and to create the jump through business model innovation.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 2008.10a
• /
• pp.152-156
• /
• 2008

This study examines the relationships between R&D investment and Market value of Firms using data of small and medium enterprises (SMEs) in the manufacturing sector of Korea. In particular, this paper investigates the role of technology innovation system in the impact of R&D investment on firm's Market value of Firms. Findings from the previous studies on the relationship between R&D investment and Market value of Firms are positive relationship. Main of the previous studies demonstrated a positive impact of R&D investment on Market value of Firms. On the other hand, some recent studies showed this is not the case. Those studies persisted that the technological innovation system for managing and efficiently utilizing R&D investment and capability has to be built in order for R&D investment to give rise to increases in Market value of Firms. According to the Oslo manual by OECD, it is assumed that a technology innovation system can becharacterized as three factors :capability for technological innovation, capability for technology commercialization, capability for technological innovation management. This study divides sample firms into two groups using the "Inno-Biz" certificate system of the Korean Small and Medium Business Administration (SMBA): Inno-Biz firms Vs. Not Inno-Biz firms. The system selects innovative SMEs denoted as "Inno-Biz" using the above factors as criteria. The results revealed that the technology innovation system has the moderating effect to R&D investment on Market value of Firms.