• 품질경영학회지
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• 제42권3호
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• pp.477-496
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• 2014

Purpose: This paper has examined the impact of open innovation business model in technology commercialization with the data from 30 companies of manufacturing firms in South Korea. Methods: The findings provide support for distinguishing five hypotheses relating to development time, IP management, sales, firm size and R&D intensity. To test the hypotheses, data were collected using via e-mail and fax. Small and medium-sized (less than 300 employees) and large industrial firms were chosen for this study. Results: The result shows that openness in its business model is positively associated with successful technology commercialization. Conclusion: The major findings and the implications are: First, as the business model gets more open, development period of technology will be more favorable which gets benefit from rising costs of innovation. Second, as the business model gets more open, large portion of sales are created from new products. Thus, the problem of shorter product life in the market which affects large portion of market revenue can be solved through an open business model. Third, in general, R&D intensity, firm size and the level of IP management affect determination of business model types. The findings also suggest that companies need to increasingly address their external technology exploitation process instead of focusing on their internal innovation processes.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.219-228
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• 2021

The study examines the behavior of stock prices after large price changes. It further examines the effect of firm size on stock returns, and the presence of the disposition effect. The study employs the event study methodology using daily price data from Pakistan Stock Exchange (PSX) for the period January 2001 to July 2012. Furthermore, to examine the factors that explain stock price behavior after large price movements, the study employs a two-way fixed-effect model that allows for the analysis of unobservable company and time fixed effects that explain market reversals or continuation. The findings suggest that winners perform better than losers after experiencing large price shocks thus showing a momentum behavior. In addition, the winners remain the winner, while the losers continue to lose more. This suggests that most of the investors in PSX behave rationally. Further, the study finds no evidence of disposition effect in PSX. The investors underreact to new information and the prices continue to move in the direction of initial change. The pooled regression estimates show that firm size is positively related to post-event abnormal returns while the fixed-effect model reveals the presence of unobservable firm-specific and time-specific effects that account for price continuation.

• Journal of Korea Trade
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• 제23권8호
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• pp.27-44
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• 2019

Purpose - The purpose of this paper is to develop a tractable general-equilibrium model of examining the impact of human resource management on intra-industry trade. Commonly, managers of Korean firms are promoted internally. It necessitates a study of human resource management and its impact on an industrial equilibrium. Design/methodology - This paper relies on theoretical analysis. We build a model in firms are hierarchical; an entrepreneur, managers, and workers. All individuals have heterogeneous managerial talents, which are the main source of managerial quality. Firms search talents for prospect managers, and eventually delegate them to supervise workers. The searching incurs a sunk cost. Findings - Our finding is as follows. Country 1, relatively abundant of managerial talents, can gain more from trade than Country 2, relatively scarce of managerial talents. This is because the higher searching cost leads to the lower survival rate of firms in Country 2. Implicatively, good jobs are destroyed, and aggregate income falls in Country 2. Originality/value - According to our study, relative abundance of managerial talents affects distribution of firm size and determines trade gain. This study can contribute to the literature of organization management and trade.

• 한국콘텐츠학회논문지
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• 제16권10호
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• pp.150-162
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• 2016

정부의 R&D투자가 실제적으로 기업의 R&D투자를 진작시키는데 영향을 주고 있는지에 대해서 아직 합의된 결과가 도출되지 않았다. 한편 2016년도의 주요부처 정부R&D 예산이 삭감된 가운데 대기업에 대한 정부R&D투자는 줄이고 중소 중견기업에 대한 투자를 늘리기로 하여 이러한 정책이 향후 효과가 있을지에 대한 실증 분석이 요구된다. 이를 위해 국가과학기술지식정보서비스(NTIS)와 공시된 재무제표를 이용하여 2012년부터 2014년까지 1301개의 데이터를 기초로 이원고정효과모형과 이원확률효과모형을 사용하였다. 표본은 상장기업만을 대상으로 했으며 기업규모별(대기업, 중견기업, 중소기업)로 정부R&D투자가 기업R&D투자에 미치는 영향을 분석하였다. 분석결과 대기업에 대한 정부R&D투자는 다소 유의한 범위를 벗어나기는 하였으나 구축효과가 있는 것으로 나타났고, 유의하게 중견기업과 중소기업은 보완효과가 있는 것으로 나타났다. 이러한 연구결과는 현재 정부 정책의 방향이 합당함을 보이고 있다. 이는 정부의 제약된 자원을 효율적으로 배분하여 중소 중견기업의 자체 R&D투자를 유도하고 나아가 글로벌 강소기업의 혁신에 도움이 될 것으로 기대된다.

• 경영과정보연구
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• 제28권2호
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• pp.95-112
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• 2009

본 연구에서는 우리나라 서비스기업에 있어서 표준화활동 결정요인을 분석하였다. 표준화활동을 유형(혹은 범주)에 따라 기업의 전사적 표준경영, 국내표준화활동, 국제표준화활동 등으로 구분하였고, 그 결정요인으로 기술혁신활동(R&D와 특허출원), 기업규모, 수출, 네트워크(산업특성), 기업조직특성 등을 고려하였다. 분석된 표본은 서비스업에 속한 102개 기업으로 정성적 분석방법인 로지스틱 회귀모형(logistic regression)을 사용하였다. 분석결과는 다음과 같다, 첫째, R&D집약도는 전사적 차원에서의 표준경영과 국내표준화활동에는 영향을 미치지 않지만, 국제표준화활동에는 정(+)의 영향을 미치는 것으로 나타났다. 이는 우리나라 서비스기업들이 국제적 표준화과정에의 참여를 기술이전의 수단으로 활용하는 경향이 있기 때문인 것으로 해석하였다. 둘째, 특허출원은 전사적 차원에서의 표준경영에 부(-)의 유의한 효과를 보여 주었다. 즉 특허활동이 활발한 서비스기업일수록 표준화를 기술혁신의 관점에서 중시하지 않고, 자사 기술정보의 유출이나 특허침해의 요인으로 간주하는 현상을 발견하였다. 셋째, 기업규모변수는 서비스기업의 경우 표준화 활동과 연관이 없는 것으로 나타났다. 넷째, 표준화에 대한 경영진의 관심은 표준화활동의 유형에 관계없이 표준화활동의 중요한 결정요인으로 분석되었다.

• 유통과학연구
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• 제22권6호
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• pp.1-10
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• 2024

Purpose: This study's objective is to examine the impact of firm-specific and macroeconomic factors on the business performance of non-cyclical and cyclical sectors in Indonesian listed firms. The evaluation of business performance holds paramount importance for the achievement and long-term viability of a company. Research Design Data and Methodology: The data for 61 non-cyclicals sector companies and 57 cyclicals sector companies was gathered over a 4-year period from 2018-2021. The model integrates firm size, leverage, and sales growth as firm-specific factors, with real GDP growth and inflation rate as macroeconomic variables. ROA and ROE are indicators of a firm's business performance. The regression models are estimated using the distribution of a dynamic approach with Arellano-Bond Panel Generalized Method of Moments (GMM) estimation. Results: The results of the pooled sample indicate that the historical ROA and ROE have a positive relationship with the business performance of all sectors, including both non-cyclical and cyclical industries. The ROE of non-cyclical enterprises is primarily influenced by firm-specific characteristics and macroeconomic influences. Conclusion: To ensure the successful implementation of the distribution of a dynamic approach towards enhancing corporate business performance, organizations need to take into account a combination of firm-specific factors and macroeconomic factors.

• 산경연구논집
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• 제6권2호
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• pp.5-11
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• 2015

Purpose - This research investigates the effect of disclosure quality with two main components, reliability and timeliness, on economic value added in Iran. Research design, data, and methodology - The sampling includes 170 Tehran Stock Exchange listed companies from 2008-12. Multiple regression analysis was applied to test the hypotheses and estimates of the coefficients. Firm size and return on assets were the control variables. Results - The results show that timeliness of information has a positive impact on economic value added. We did not find any significant relationship between disclosure quality and reliability of information and economic value added. The regressed model shows that there is no significant association between firm size and economic value added. The results also show that there is a positive association between return on assets and economic value added. Conclusions - Theoretically, timely information is effective in decision-making. This study shows that timeliness of information has positive effect on the creation of economic value added. However, disclosure quality, reliability, and firm size do not effect on economic value added. Companies with greater return on assets produce greater economic value added.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.141-148
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• 2020

This paper analyzes factors affecting the debt maturity structure of enterprises listed on the Vietnam stock market. The panel data of research sample includes 549 non-financial listed enterprises on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) tool is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, debt maturity structure is the dependent variable. Capital structures, fixed assets, liquidity, firm size, asset maturity, profitability, corporate income tax, gross domestic product, inflation rate, credit growth scale are independent variables in the study. The model results show, that among the factors affecting the structure of debt maturity, the capital structure, asset structure, and firm size have the highest estimation coefficients, which shows that capital structure, asset structure, and firm size plays an important role in the decision-making process of debt maturity structure. The empirical results show that there are differences in the impact of these factors on the debt maturity structures in state-owned enterprises and non-state enterprises listed on the Vietnam stock market. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to determine the target debt maturity structure in enterprises.

• 경영과학
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• 제32권1호
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• pp.83-100
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• 2015

We analyze a duopoly competition when two firms face input cost increases. The objective of this study is to determine the firms' optimal strategy between a price increase and downsizing under conditions of a spatially differentiated market and consumers' diminishing utility on the product size. We develop a theoretical model of two competing firms offering homogenous products using the standard Hotelling model to determine how firms' optimal strategies change when facing input cost increases. In this paper, there are two types of duopoly competitions: symmetric and asymmetric. In the symmetric case, the two firms have the same marginal cost and are producing and selling identical products. In the asymmetric case, the two firms have different marginal costs. The results show that the optimal strategy decision depends on the size of the input cost increase and the cost differences between the two firms. We find that when two firms are asymmetric (i.e., they have different marginal costs), the two firms might choose asymmetric pairs of strategies in equilibrium under certain conditions. When the cost differences between the two firms are sufficiently large and the cost increase is sufficiently small, the cost leader chooses price increase, and the cost-disadvantaged firm chooses downsizing in equilibrium. This asymmetric strategy reduces price competition between two firms, and consumers are better off. When the cost differences between the two firms are sufficiently large, downsizing is the dominant strategy for the cost-disadvantaged firm. The cost-disadvantaged firm finds it more profitable to reduce the product size than to increase its price to reduce price competition, because consumers prefer downsizing to price increases. This paper might be a good starting point for further analytical research in this area.

• 기술혁신학회지
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• 제8권1호
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• pp.116-134
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• 2005

This paper investigates the relationships between export and firm characteristics, focusing on technology factors. It is based on a longitudinal data covering listed firms in the Korean manufacturing industry. A regression model for the determinant of export/sales ratio including dynamic adjustment process is tested on a cross-section sample of the year 2001. Empirical findings suggest that there is no significant relationship between export/sales ratio and firm's technological level. The hypotheses concerning human capital intensity and physical capital intensity are also rejected. But we found a positive and inversely U-shaped relationship between firm size and export/sales for basic material and capital good industry. As a dynamic aspect, we found that the pattern of export/sales ratio changed unstably over the last decade. Finally, some policy implications are presented.