• Journal of The Korea Institute of Healthcare Architecture
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• v.16 no.2
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• pp.47-54
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• 2010

This paper is a longitudinal study, comparing survey results between two time periods. A previous survey was conducted in 1999. After 10 years of the first survey, the second survey was conducted while utilizing the same questionnaire. A list of membership of Korea Institute of Heallthcare Architecture was used as a sampling frame. At the first survey in 1999, questionnaires of 27.3 percentage were returned, and 15.5 percentage in the 2008 survey. Healthcare design is one of the highly specialized design types in architecture. In addition, it is demanded highly specialized knowledge to solve healthcare design problems. As a professional service firm(PSF), architectural firm utilizes knowledge assets to provide design service to clients. Specialized knowledge in question is one of the core assets of PSF. The knowledge generates competitive advantages and plays an effective role as a marketing tool for PSF. However, empirical studies dealing with the knowledge characteristics of specialized design(healthcare) firms were hardly found. Thus, this study aims to trace the professional architects' perception of knowledge demands for task performance and architectural knowledge assets. The results can be used as a reference when a specialized firm in healthcare design initiates to build knowledge assets in it.

• Archives of design research
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• v.11 no.2
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• pp.47-57
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• 1998

This research investigates the factors of participatory activities in coalition between industy firms and research universities. An empirical analyses research was conducted with 375 sample small and medium sized firms in Kwangju-Chonnam area. The present conditions of the object firms' product design were explored in terms of competitive positions in markets. The results show that the object firms have not much engaged In the coalition with regional universities, but want to have a close relationship for the purpose of product design development. Several t- test analyses were employed to discriminate the groups of pro-colation and con-coalition between firm and university. The results indicate that the perception of design importance as competitive means and business success, the level of present design capability, and the possession of design patent were the important variables to differentiate the two groups. This research draws the implications to enhance the coalitions between firm and universities by utilizing the empirical results.

• Journal of Korea Trade
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• v.26 no.4
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• The Journal of Industrial Distribution & Business
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• v.5 no.2
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• pp.13-20
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• 2014

Purpose - The purpose of this study is to empirically investigate the impact of capital structure on firm performance. Research design, data, and methodology - This study examined the impact of capital structure on the performance of cement companies listed on the Karachi Stock Exchange during the period 2009-2013. The authors hypothesize that there is a negative relationship between capital structure and firm performance. To examine the association, the authors run a Pearson correlation and multiple regression analysis. Results - Results reveal a strong negative relationship between debt to asset and firm performance variables (GPM, NPM, ROA, and ROE). Further, there is a positive relationship between debt to equity and firm performance variables (GPM and NPM), anda negative relationship between debt to equity and firm performance variables (ROA and ROE). Moreover, capital structure variables significantly impact firm performance. Conclusions - This study concluded that financial analysts and managers should emphasize on the optimal level of capital structure and efficient utilization and allocation of resources to achieve the targeted level of productive efficiency in business.

• Journal of Distribution Science
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• v.15 no.4
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• pp.5-13
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• 2017

Purpose - This research analyzes the effects of Korean family ownership characteristics on firm value. The positive and negative effects of family ownership on Korean firm value were analyzed. If negative effects are evident, this research explores the factors that cause a decrease in firm value. Research design, data, and methodology - The study examined a total of 5,743 companies listed on the Korea Exchange from the period 2002 to 2012 using a panel data regression analysis. Result - An empirical analysis suggests that Korean family ownership diminishes firm value. Korean family firm value has been reduced when controlling shareholders are participated in management and pursue excessive wages, or make the management entrenchment effects associated with ownership-control disparity. When the controlling shareholders of family firms have increasing control rights over the shareholders' general meeting and the directors' board, the agency costs associated with seeking increasing executive wages or private benefits reduce firm value. Conclusions - This study has significance because it reveals the negative effect of family ownership in Korea on firm value. These negative effects can be the result of agency problems from controlling family shareholders seeking excessive wages or ownership-control disparity.

• Journal of Distribution Science
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• v.16 no.8
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• pp.15-27
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• 2018

Purpose - The purpose of the study is to examine the relationships among the following retail operations variables: retail store operations (i.e., store management, sales personnel, promotion of merchandise), success of assortment planning, firm performance (i.e., market share, overall competitive position, profitability, product quality, consumer satisfaction), and retail buyer's demographics and firm's characteristics. Research design, data, and methodology - After conducting a pilot test, the survey was conducted in Seoul, South Korea. With using the listwise deletion method, 378 usable data sets were analyzed. For data analysis, descriptive statistics, factor analysis, and Structural Equation Modeling (SEM) methods were employed. Results - As evidenced from the path diagram, the relationship between retail store operations and the success of assortment planning is strong and significant. Retail store operations affect firm performance, though at a weaker significance than it affects the success of assortment planning. The relationship between the success of assortment planning and firm performance, is the strongest relationship observed by this research. Conclusions - The findings of this empirical study contribute to the retail/fashion buying/management field by confirming (a) the importance of assortment planning for retail firm performance and (b) the role of store operations for successful assortment planning and firm performance for fashion retailers.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.95-106
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• 2022

Purpose - The purpose of this study was to examine the mediating effect of employee competence on the relationship between the utilization of non-regular workers and firm performance. Design/methodology/approach - This study utilized 427 firm level data from HCCP. The Exploratory Factor Analysis (EFA) and the multiple regression analysis were conducted to verify the hypotheses. Findings - We found that the utilization of non-regular workers is not significantly related to firm performance. However, the utilization of non-regular workers had a negative relationship with employee competence, and that employee competence mediated the relationship between the utilization of non-regular workers and firm performance. Research implications or Originality - As environmental uncertainty and competition between firms intensify, more and more firms are utilizing non-regular workers. Research on the relationship between the utilization of non-regular workers and firm performance is continuously conducted, but research on the process of explaining the specific relationship between them is still insufficient. Our study contributes the related research area by identifying the mediating role of employee competence on the utilization of non-regular workers and firm performance relationship.

• Journal of Korea Trade
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• v.26 no.7
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• pp.19-42
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• 2022

Purpose - This study investigates the effects of foreign investor ownership on firm innovation and the different stages of the firm innovation process for business group affiliation (affiliated firms) and nonaffiliated firms. Design/methodology - Research and development (R&D) intensity is used as a proxy for firm innovation. We use a sample of 7,655 firm-year observations of Korean listed firms from 2001 to 2015. To identify the distinct features of business group affiliation and how foreign investor ownership affects firm innovation, we divide the sample into affiliated and non-affiliated firms. Moreover, we classify total R&D expenditures as research and development expenditures. Findings - This study finds a positive relationship between foreign investor ownership and innovation in non-affiliated firms. However, the foreign investor ownership's role in facilitating firm innovation does not influence business group affiliation. Moreover, the results show that foreign investor ownership encourages firms to increase research expenditures, which is the amount spent in the early stages of a firm's R&D process. Originality/value - Existing studies have overlooked the distinct features of business group affiliation and the different characteristics of research and development expenditures. Thus, this study considers the distinct features of business group affiliation and investigates how foreign investor ownership affects different stages of R&D activities.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.225-241
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• 2020

Purpose - The purpose of this study was to examine the effect of the ratio of outside directors, especially the ratio of outside directors according to their tenure, on firm value. Design/methodology/approach - This study collected total 3,861 firm-year data about companies listed KRX KOSPI market in Korea. The Pooled Ordinary Least Square Model and Panel Fixed Effects Model were hired in order to analyze the data. Findings - First, it was found that the ratio of outside directors for total sample had no significant effect on firm value, and the estimation coefficient of dummy variable for the average tenure less than 3 years had a significant positive(+) effect on firm value. Second, the ratio of outside directors corresponding to the tenure of less than 3 years had a significant positive(+) effect on the firm value. On the contrary, the ratio of outside directors corresponding to the tenure of 3 years or more had a significant negative(-) effect on firm value. Third, the ratio of outside directors corresponding to the tenure for more than 6 years did not show any significant influence on firm value. Research implications or Originality - First, if other matters are not additionally considered, keeping the tenure of outside directors shortly on average could help to increase firm value. Second, in the case of firms facing the decision to reappoint outside directors for the first time, it is highly likely that the firm value would decrease on average, so careful decisionmaking considering various aspects is required. However, this study does not take into account the legal standards for the appointment of outside directors, diversity of outside directors, and the actual independence of outside directors according to other criteria in the analysis. Therefore, if these factors are considered, there is a possibility that the empirical analysis results of this study may show different patterns.

• The Journal of Society for e-Business Studies
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• v.7 no.2
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• pp.113-128
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• 2002

This paper proposes a public oriented e-Marketplace that induces strategic coalition using database in which detail information about each firm is contained. A public oriented e-Marketplace links each firm through the type of Internet business model and constructs a trading community. We introduce a design methodology of public oriented e-Marketplace called as social network analysis. Social network analysis helps each firm's network easily visualized and completely modeled. Additionally, this paper tries to analyze the relationship among the level of competition, potential of strategic coalition, and financial performance. We demonstrate the firm to easily accept various strategic coalitions can make higher financial performance under the more competitive condition. This implies that strategic coalition through public oriented e-Marketplace provide the each firm with various opportunities.