• 유통과학연구
• /
• 제17권3호
• /
• pp.69-83
• /
• 2019

Purpose - This paper investigates the long term impact of RFID investment on firm value in Korea. We wand to find out why the long term performance of some firm's RFID investment is better than others. To understand the dynamics of the long term returns from RFID investment announcements, we divide our events into groups for each of the independent firm characteristic variable such as investment time period, kind of markets, industries, solvency and growth potential. We composed portfolios based on the RFID investment announcement date for each group and evaluate the monthly abnormal excess returns. Research design, data, and methodology - Based on these calendar-time portfolios, we measure the long term returns from 86 RFID investment announcements of 46 firms from 2003 to 2017. We construct the calendar-time portfolio for 3, 6, 9, 12 months of holding periods. Using the weighted least squares method, we regress the raw monthly returns of the portfolios on the Fama-French model and Carhart(1997) model. As a result, we can get the estimated risk adjusted mean monthly abnormal excess return α_P for each of the calendar-time portfolio. Results - We found that early adopters, large firms, non-manufacturing firms have very significant excess returns. We also found modestly significant excess returns for financially stable firms and slow growing firms. Put together, top managers of the firms which plan to invest RFID should understand the strategic role of RFID adoption and the generalized business process of distribution information technology investment in Korea. Moreover, the findings of this paper provide useful trading strategies to the managers of large funds who are considering on investing in RFID adopting firms. Conclusions - Put together, the results of this paper give us a new insight into how the RFID and IT technology in general and other characteristic factors' interactions affect the long term performance of firms. Using the unbiased estimates of long term returns of the calendar-time portfolios, this paper extends the understandings on short term impact of RFID adoption of existing studies. This paper also extends the current understandings of firm characteristics that affect the long term performance of RFID adopting firms.

• Journal of Information Technology Applications and Management
• /
• 제21권1호
• /
• pp.165-176
• /
• 2014

This paper was tried to show the improvement model for software industry structure in Korea regarding to have the global level of competence in Korean software firms. To suggest the improvement model for software industry structure, the detailed status about software industry which as in the supply and demand perspectives and comparativeness dimension were analysed. Also to this model the special survey results from the 35 professionalists in the software industry were included. This improvement model suggests the big software firms have to consider the economy of the scale, and to enter global IT market, the other SMEs have to pursuit themselves as a specified technology firms. So it is good for the oversea project collaboration with the solution provider firms and IT service firms. And it is desirable to make a the economy of scale regarding as the solution venture startup, M&A, networking the software firms as supply chain. Also the development of new business model for new market and firms with the high-tech business competency will be required.

• The Journal of Asian Finance, Economics and Business
• /
• 제5권4호
• /
• pp.9-20
• /
• 2018

Global rating agencies, such as Moody's and S&P, have assigned credit ratings to corporate bonds issued by Japanese firms since 1980s. Local Japanese rating agencies, such as R&I and JCR, have more market share than the global raters. We examine the yield spreads of 1,050 yen-denominated corporate bonds issued by financial firms in Japan from 1998 to 2014 and find no evidence that bonds rated by at least one global agency are associated with a significant reduction in the cost of debt as compared to those rated by only local rating agencies. Unlike non-financial firms, the reputation effect of global rating agencies does not exist for Japanese financial firms. We also observe that firms with less information asymmetry are more likely to acquire ratings from Moody's or S&P. Additionally, the firm's financial profile does not affect its choice to seek out ratings from global raters. Our findings are contradictory to those by Han, Pagano, and Shin (2012), who employ bonds issued by non-financial firms in Japan. Our conjecture is that the asymmetric nature of financial firms makes investors less likely to depend on a credit risk assessment by rating agencies in determining the yields of new bonds.

• 기술혁신연구
• /
• 제14권3호
• /
• pp.71-92
• /
• 2006

There may exist differences in R&D patterns between multinational enterprises and domestically owned firms located in catching-up countries. This paper examines the differences in R&D patterns between different ownership in Korea. In order to do this, the paper has conducted the in-depth interview of the major multinational and local firms. The interviewed firms has been selected mainly from the telecommunication, semiconductor and display industries. The paper reveals that multinational firms tend to focus on sales-oriented R& while domestically owned firms are likely to cover the range of development, applied and basic research. The most outstanding difference lies in the length of R&D period. The domestic firms apparently turn out to conduct longer period R&D projects than multinational firms. In addition it is revealed that local firms need to develop their own capability, whereas foreign companies in Korea can acquire advanced technology and scientific knowledge from the R&D centers in their home countries. On the basis of the research findings, this paper discusses some implications and recommendations for Korea and other catching-up countries.

• 품질경영학회지
• /
• 제40권4호
• /
• pp.631-640
• /
• 2012

Purpose: This empirical study is focused on the relationship between innovation capability (R&D and Human Resource innovation) and performance in knowledge-based service firms. Methods: We build research model to test how each of innovation capability on technology and human resource is influenced on their financial and non-financial performance in the knowledge-based service industries. Based on the previous research, we hypothesized the factors are regarded innovation capabilities of the firms as the scale of R&D and human resources. Because this study is especially targeted to the performance of knowledge-based service firms. With the survey on 424 main knowledge-based service firms, the multi-regression analysis was performed. Results: The result showed that the scale of R&D and human resources capabilities are main factors for knowledge-based service firms' performance, which reflects the current industrial structure. Conclusion: This study empirically demonstrated that human resources are most important to the growth of knowledge-based service firms.

• 기술혁신연구
• /
• 제2권1호
• /
• pp.256-276
• /
• 1994

This paper aims at identifying the desirable R'||'&'||'D life cycle related to government-industry cooperative R'||'&'||'D. It is based on a case study associated with the relationship between cooperation and cooperation in information in information communications sector. It presents three types of R'||'&'||'D life cycle to achieve a technological enhancement as high as possible with limited resources. The first case of R'||'&'||'D project is of "advanced type". In the generic technology phase, government takes a leading role jointly in R'||'&'||'D activities, but, in after the applied research phase, the domestic firms take the lead. This kind of cooperation can be made when competition between domestic firms is highly intense, and the technological knowledges of participating firms are at internationally competitive levels. The second type of "less-advanced type"; the firms of a country(more often a small country) lag behind in technology level, and the penetration of foreign firms in the market is limited. In this case, government takes full charge of R'||'&'||'D activities up to the applied research phase, due to the low technology level and insufficient financial resources of private firms. Lastly, this paper presents and R'||'&'||'D life cycle of "strategic" type. This applies to the case in which domestic firm with less financial resources make an attempt to increase their technological knowledges while the government, in turn, contributes to strengthen the international competitiveness of domestic industry.

• 한국IT서비스학회지
• /
• 제17권4호
• /
• pp.119-137
• /
• 2018

Recently, the start-up firms have been under the spotlight because they can create many jobs and are regarded as the growth engine of a country in the fourth industrial revolution. Moreover, after the global financial debacle, many countries emphasize on an entrepreneurial spirit and venture firms. they also pay attention to the importance of educations to promote the start-up firms. In this work, based on technology acceptance model, we try to identify the main factors of accepting online start-up education system. We first defined this system as the online start-up education system which refers to a system to support learning for knowledge, experiences and overall process of start-up firms' tasks. This system also simulates tasks related with prep-entrepreneur so that can be regarded as a kind of decision support systems. As this system has some characteristics, we confirmed some factors of extended technology acceptance model. In our experiments, we find that the perceived ease of use and trust are main factors of acceptance for the online start-up education systems. These results mean that the system should be made to be easy and trustful for their users. Therefore, we expect that this work will be helpful to researchers and developers who consider start-up education systems and provide a way to activate founding start-up firms.

• 한국전자거래학회지
• /
• 제6권3호
• /
• pp.17-40
• /
• 2001

In this study we tried to measure the user satisfaction with IT in small firms. Though the number of small firms is not negligible, most studies on the IT satisfaction focused on medium and large-sized firms. Using Palvia's model in 1999 we measured If satisfaction of the employee in small firms in the manufacturing and telecommunication industry. We included seven constructs such as S/W pertinence, information content and accuracy, information format, system usefulness, system continuance, and system support to measure IT satisfaction. The result suggests that the If users in small firms are generally dissatisfied with the information technology and the areas of deep dissatisfaction are system usefulness and system support. Type of business, the gender and education of the users are found to affect the level of satisfaction.

• 한국IT서비스학회지
• /
• 제10권1호
• /
• pp.47-64
• /
• 2011

In the IT(Information Technology) service, which supply the solutions related to business management and IT, network construction and application trends, the related service business are increasing according to the enlargement of project scope and the diversity of project types as the need of service customers. In this paper, I propose the significant effect factors on the network management of IT service firms. The key findings are from the analysis result about 94 IT service firms as follows. For implementation the high performance of network management in the IT service firms, the strategic elements in the process of network construction are more conceived highly than the basic element in them. Also the perspective of project objectives are considered than the nominal perspectives in the partner selection process. The competency of partner firms', the cooperation process between the partner firms', network relation operation management and network relation structure management are the significant effect factors of network management.

• Asia pacific journal of information systems
• /
• 제11권4호
• /
• pp.1-25
• /
• 2001

Manufacturing firms face a paradigm shift from industrial systems driven by efficiency to post-industrial systems where success depends on a quick-response to customer demands for a variety of high-quality products. In essence, time is becoming a critical dimension for competition. New information technologies allow many firms to pursue time-based competitive strategies. The purpose of this research is to investigate the relationship among the types of information technology, behaviors of suppliers, the structures of new product development processes, and the competitiveness of the firms. The data for this study were collected from 96 Korean manufacturing firms that have implemented certain types of information technologies. Research results from LISREL analysis confirm that the competitiveness comes from product innovation capabilities and innovative product development process. But the linkage between the information technologies and the firms' competitiveness proves to be indirect. Suppliers, organizational culture related to IT, and some other factors also have indirect impact on the competitiveness. A summarized report of other findings is provided as well.