• Journal of Technology Innovation
• /
• v.30 no.3
• /
• pp.1-34
• /
• 2022

This study examines the effect of CEO age on the value relevance of R&D which is the relationship between R&D expenditures and firm value. The value relevance of R&D expenditures is higher in companies with current older CEOs, while the relationship in companies with younger CEOs is lower than that of other companies. These results suggest that older CEOs tend to be conservative and make prudent R&D investment decisions. Because they make systematic investment decisions with rich experience, they are expected to have higher investment performance in the market. On the other hand, young CEOs choose risky investments in order to have their abilities highly evaluated in the labor market. The market places a high degree of risk on the R&D decision-making of young CEOs. Next, we analyze whether the age of the replaced CEOs affects the relationship between R&D expenditures and firm value. The result shows that the change of management increases the effect of R&D expenditure on firm value. However, in the case of being replaced by a younger CEO, this positive relationship becomes lower than that of other companies, showing results consistent with the case of the current younger CEO. The samples are analyzed by dividing them into conglomerates and non-conglomerates. In conglomerates, the age of the replaced CEOs does not affect the value relevance of R&D expenditures. Only non-conglomerates showed a negative (-) effect on the replaced younger CEOs. These results suggest that conglomerates maintain the stability of R&D management and performance so that the performance of R&D expenditures is not significantly affected by the age of the replaced CEOs. The reason is that mutual checks and support are coordinated within the group through decentralization of work and systematization of decision-making. This study shows evidence that the relationship between R&D expenditure and firm value according to the age of the replaced CEO is a phenomenon that only occurs in non-conglomerates. This phenomenon suggests that conglomerates are stably managing their R&D performance regardless of the change of CEOs or the characteristics of the CEOs.

• Journal of Venture Innovation
• /
• v.6 no.4
• /
• pp.99-111
• /
• 2023

This study aims to confirm that consumers' satisfaction with online shopping websites has changed to a phenomenon different from the past. In other words, in a situation where the use of e-commerce is expanding worldwide after the pandemic and various types of commerce such as mobile commerce and social commerce are formed, the consumer's information processing and decision-making process are meaningful in examining the behavior that has been changed based on the perceived motivation level of consumers by the new environment according to the consumption value and personal characteristics perceived by the consumer. In other words, the purpose of this study was to investigate the effect of consumption value and need for cognition on the satisfaction toward online websites as a mediating role in the trust of the website. As a result of testing Hypothesis 1, not only the hedonic value of the consumer for the website but also the utilitarian value had a positive influence on the satisfaction toward the website, and in particular, the utilitarian value showed a relatively greater influence than the hedonic value. However, the negative relationship between the need for cognition and satisfaction was found to be at a significant level under one-sided verification. In Hypothesis 2, only the utilitarian value among the consumption values of 2-1 showed a positive effect on satisfaction through a mediating role of trust. It was confirmed that the utilitarian value among the consumption values was an important factor in the satisfaction toward the website. The significance of this study is that, unlike previous research results, not only consumption value based on senses and emotions but also utilitarian value has a greater influence. Therefore, utilitarian value and need for cognition have a stronger influence on satisfaction if they play a mediating role based on the trust of the website used by consumers. These findings reflect the current market trend of online consumption, and they are helpful in the management and strategy of online websites based on consumer behavior understanding and major factors.

• Journal of Venture Innovation
• /
• v.6 no.4
• /
• pp.23-40
• /
• 2023

This study examines the customer value factors affecting the intention to continue using the mobile app of department stores, which are traditional offline retailers, in the retail industry that is rapidly digitalizing and becoming mobile. This study clarifies multidimensional customer value in three dimensions; functional, convenience, and social. Functional value refers to the integrated channel, and consistent customer experience provided between channels in the omnichannel retail environment, while convenience value is the convenience of saving time and effort save while customers use a mobile app. Social value refers to the improvement of social approval or social self-concept occurring due to the use of products or services related to green marketing within the mobile app of the department store. The influence of each on the dependent variable, the mobile app's continuous use intention, was analyzed by using the three dimensions of customer value as independent variables. Data was collected from customers who have a history of using the mobile app of Shinsegae Department Store in Korea, and a confirmatory analysis was conducted using Smart PLS 4.0. The analysis results showed that all three dimensions of customer value; functional value, convenience value, and social value, had a positive (+) influence on customers' intention to continue using the mobile app, and the influence of functional value had the greatest impact. As functional value appears to be the most important influencing factor due to the omnichannel retail trend by advancement of technology, it suggests that it is important for department stores, and offline retailers, to provide integrated channels. This provides insights into the direction of customer-centered strategy formulation for activating department store mobile apps and suggests basic analytical data for customized services and marketing activities that department stores can effectively meet the changing expectations and demands of customers through new mobile channels rather than existing offline channels.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.2
• /
• pp.221-233
• /
• 2019

In Korea, small and medium sized domestic enterprises(SMEs) play an pivotal role in the national economy, accounting for 99.9% of all enterprises, 87.9% of total employment, and 48.3% of production. and SMEs was driving a real force of the development of national economy in many respects such as innovation, job creation, industrial diversity, balanced regional development. Despite their crucial role in the national development, most of SMEs suffer from a lack of R&D capabilities and equipments as well as funding capacity. Public R&D institutes can provide SMEs with valuable supplementary technological knowledge and help them build technological capacity. so, In order to effectively support SMEs, government and public R&D institutes must be a priority to know about the factors influencing the performance related to technology transfer and technological collaborations. In particular, SMEs are not only taking up a large portion of the national economy, but also their influence in politics and economy so strong that raising the competitiveness of small and medium-sized companies is a national policy goal that must be achieved in order to achieve sustained economic growth. For this reason, it is necessary to look specifically at the relationship between concepts such as the environment, strategy, and organizational culture surrounding the enterprise to enhance the competitiveness of SMEs. The paper analyzes 665 companies to find out which organizational culture affects their performance by classification and type of business of SMEs. This study demonstrated that when SMEs seek consistency in their external environment, strategies, and organizational structure to maintain their continued competitiveness. According to three-way analysis of variance (3-way ANOVA) indicates that classification of industries in SMEs has statistically significant main effects, but the type of business and organizational culture do not have significant effects. However, the company's organizational performance (operating profit) of SMES were found to differ significantly in comparison between groups according to classification standards of industries, and therefore adopted some parts. In addition, an analysis of the effect of interaction between the three independent variables of small and medium-sized enterprises has shown that there are statistically significant interaction effects among classification, types of business, and organizational cultures. The results shows that there is an organizational culture suitable for each industry classification and type of business of an entity, and is expected to be used as a basis for establishing promotion policies related to the incubation and commerciality of small and medium-sized venture companies in the future.

• Korean small business review
• /
• v.43 no.2
• /
• pp.59-86
• /
• 2021

The platform concept has been used for business operations in various forms: product platforms, transaction platforms and industry platforms. All these platforms have common characteristics of having 'core' that is reused frequently and 'peripherals' that are less reusable and changed often. Companies use platforms to enable efficient development and creation of product family, transactions and innovation. These platforms provide new opportunities for many small and medium-sized companies (SMEs) by bringing changes to traditional industrial structures focused on the products rather than platforms. The service robotics industry in South Korea is mainly composed of technology-intensive SMEs due to its small market size. Although these SMEs succeed in developing technologies, they have difficulties creating and expanding markets to sell products. Thus, this study addresses the characteristics and problems of the South Korean service robotics industry and analyses how ROBOPRINT, one of the SMEs in the service robotics industry, successfully creates and continuously expands the service robot market by adopting platform concept. The results indicate that ROBOPRINT has been applying two types of platforms: product and transaction platforms. First, ROBOPRINT created art robots that were apartment mural service robots. Rather than selling art robots, the company developed various robots such as painting robots, building exterior wall-cleaning robots by reusing the core technology of the robots. The company also developed various robots according to the buyers request. In addition, the company used the robots to directly provide apartment mural services for customers. This mural service has been extended into various areas, not only in apartments but also in soundproof walls, underground passages, and retaining walls. Besides, ROBOPRINT added new services continuously by developing technologies such as virtual reality. Second, ROBOPRINT mediated mural service buyers and mural designers. This platform reduced buyers' workload, which necessitates requesting mural services to ROBOPRINT and searching for mural designers. For designers, this opened up new opportunities to participate in the mural business. The platform attracted both mural buyers and designers who were scattered before. Finally, ROBOPRINT seeks to expand the platform's scope to outside company. To share internally reused ROBOPRINT's technology with other companies, the company participated in Daegu city's 'New Technology Platform Industry'. Furthermore, ROBOPRINT is trying to share the service platform by leasing robots to other companies. This allows external agents to develop technologies and provide services by reusing resources from ROBOPRINT. This study contributes to existing theories by showing that SMEs continuously create and expand markets by building various platforms. Moreover, it provides useful implications for practitioners by describing the firm's specific platform-building strategy.

• Journal of KIISE:Software and Applications
• /
• v.37 no.12
• /
• pp.909-918
• /
• 2010

To analyze the national competitiveness of Korea leads to the conclusion that global high-tech enterprises have been playing leading and pulling roles in making Korea in line with advanced countries even though the country is lacking in various natural resources. The characteristics of these companies above are as follows; Firstly, these enterprises continue to accumulate core technologies and know-how with highly competent human resources and well-organized management. Secondly, they are well structured and equipped with information technology infrastructures which are, for example, ERP, SCM, CRM, and PLM. Among them PLM is considered to be the principal core information technology infra in manufacturing industry. The urgent task of manufacturing industry recently is to develop new products to accept various needs of consumers, and to launch the products in time to market, which requires the manufactures to be equipped with product development infra and system to upgrade product fulfillment and mass production system in a short period. The introduction of PLM System is a solution of core strategy as a manufacturer for collaboration, global development, reengineering of manufacturing system, the innovation and efficiency of manufacturing process, and product quality improvement. The purpose of this study is to analyze the success factors of introducing PLM System and its practicing effectiveness. And the results of empirical study are as follows; (1) Technical success factors positively impact system quality and user satisfaction, (2) Organizational success factors positively impact system quality, but does not impact user satisfaction, (3) Environmental success factors positively impact system quality and user satisfaction, (4) System quality positively impacts user satisfaction, (5) User satisfaction positively impacts the effectiveness of implementing PLM systems, but system quality does not impact it.

• Journal of Intelligence and Information Systems
• /
• v.29 no.3
• /
• pp.287-316
• /
• 2023

As global energy crisis and the COVID-19 pandemic have emerged as social issues, there is a growing demand for companies to move away from profit-centric business models and embrace sustainable management that balances environmental, social, and governance (ESG) factors. ESG activities of companies vary across industries, and industry-specific weights are applied in ESG evaluations. Therefore, it is important to develop strategic management approaches that reflect the characteristics of each industry and the importance of each ESG factor. Additionally, with the stance of strengthened focus on ESG disclosures, specific guidelines are needed to identify and report on sustainable management activities of domestic companies. To understand corporate sustainability strategies, analyzing ESG reports and news articles by industry can help identify strategic characteristics in specific industries. However, each company has its own unique strategies and report structures, making it difficult to grasp detailed trends or action items. In our study, we analyzed ESG reports (2019-2021) and news articles (2019-2022) of six companies in the 'Finance,' 'Manufacturing,' and 'IT' sectors to examine the sustainability strategies of leading domestic ESG companies. Text mining techniques such as keyword frequency analysis and topic modeling were applied to identify industry-specific, ESG element-specific management strategies and issues. The analysis revealed that in the 'Finance' sector, customer-centric management strategies and efforts to promote an inclusive culture within and outside the company were prominent. Strategies addressing climate change, such as carbon neutrality and expanding green finance, were also emphasized. In the 'Manufacturing' sector, the focus was on creating sustainable communities through occupational health and safety issues, sustainable supply chain management, low-carbon technology development, and eco-friendly investments to achieve carbon neutrality. In the 'IT' sector, there was a tendency to focus on technological innovation and digital responsibility to enhance social value through technology. Furthermore, the key issues identified in the ESG factors were as follows: under the 'Environmental' element, issues such as greenhouse gas and carbon emission management, industry-specific eco-friendly activities, and green partnerships were identified. Under the 'Social' element, key issues included social contribution activities through stakeholder engagement, supporting the growth and coexistence of members and partner companies, and enhancing customer value through stable service provision. Under the 'Governance' element, key issues were identified as strengthening board independence through the appointment of outside directors, risk management and communication for sustainable growth, and establishing transparent governance structures. The exploration of the relationship between ESG disclosures in reports and ESG issues in news articles revealed that the sustainability strategies disclosed in reports were aligned with the issues related to ESG disclosed in news articles. However, there was a tendency to strengthen ESG activities for prevention and improvement after negative media coverage that could have a negative impact on corporate image. Additionally, environmental issues were mentioned more frequently in news articles compared to ESG reports, with environmental-related keywords being emphasized in the 'Finance' sector in the reports. Thus, ESG reports and news articles shared some similarities in content due to the sharing of information sources. However, the impact of media coverage influenced the emphasis on specific sustainability strategies, and the extent of mentioning environmental issues varied across documents. Based on our study, the following contributions were derived. From a practical perspective, companies need to consider their characteristics and establish sustainability strategies that align with their capabilities and situations. From an academic perspective, unlike previous studies on ESG strategies, we present a subdivided methodology through analysis considering the industry-specific characteristics of companies.

• Information Systems Review
• /
• v.19 no.2
• /
• pp.1-19
• /
• 2017

Original scripts of e-learning lectures for the CEOs of corporation S were analyzed using topic analysis, which is a text mining method. Twenty-two topics were extracted based on the keywords chosen from five-year records that ranged from 2011 to 2015. Research analysis was then conducted on various issues. Promising topics were selected through evaluation and element analysis of the members of each topic. In management and economics, members demonstrated high satisfaction and interest toward topics in marketing strategy, human resource management, and communication. Philosophy, history of war, and history demonstrated high interest and satisfaction in the field of humanities, whereas mind health showed high interest and satisfaction in the field of in lifestyle. Studies were also conducted to identify topics on the proportion of content, but these studies failed to increase member satisfaction. In the field of IT, educational content responds sensitively to change of the times, but it may not increase the interest and satisfaction of members. The present study found that content production for CEOs should draw out deep implications for value innovation through technology application instead of simply ending the technical aspect of information delivery. Previous studies classified contents superficially based on the name of content program when analyzing the status of content operation. However, text mining can derive deep content and subject classification based on the contents of unstructured data script. This approach can examine current shortages and necessary fields if the service contents of the themes are displayed by year. This study was based on data obtained from influential e-learning companies in Korea. Obtaining practical results was difficult because data were not acquired from portal sites or social networking service. The content of e-learning trends of CEOs were analyzed. Data analysis was also conducted on the intellectual interests of CEOs in each field.

• Journal of Global Scholars of Marketing Science
• /
• v.18 no.2
• /
• pp.89-111
• /
• 2008

Due to the development of digital technology, studies regarding smart wear integrating daily life have rapidly increased. However, consumer research about perception and attitude toward smart clothing hardly could find. The purpose of this study was to identify innovative characteristics and perceived risk of smart clothing and to analyze the influences of theses factors on product attitudes and intention to adopt. Specifically, five hypotheses were established. H1: Perceived attributes of smart clothing except for complexity would have positive relations to product attitude or purchase intention, while complexity would be opposite. H2: Product attitude would have positive relation to purchase intention. H3: Product attitude would have a mediating effect between perceived attributes and purchase intention. H4: Perceived risks of smart clothing would have negative relations to perceived attributes except for complexity, and positive relations to complexity. H5: Product attitude would have a mediating effect between perceived risks and purchase intention. A self-administered questionnaire was developed based on previous studies. After pretest, the data were collected during September, 2006, from university students in Korea who were relatively sensitive to innovative products. A total of 300 final useful questionnaire were analyzed by SPSS 13.0 program. About 60.3% were male with the mean age of 21.3 years old. About 59.3% reported that they were aware of smart clothing, but only 9 respondents purchased it. The mean of attitudes toward smart clothing and purchase intention was 2.96 (SD=.56) and 2.63 (SD=.65) respectively. Factor analysis using principal components with varimax rotation was conducted to identify perceived attribute and perceived risk dimensions. Perceived attributes of smart wear were categorized into relative advantage (including compatibility), observability (including triability), and complexity. Perceived risks were identified into physical/performance risk, social psychological risk, time loss risk, and economic risk. Regression analysis was conducted to test five hypotheses. Relative advantage and observability were significant predictors of product attitude (adj $R^2$=.223) and purchase intention (adj $R^2$=.221). Complexity showed negative influence on product attitude. Product attitude presented significant relation to purchase intention (adj $R^2$=.692) and partial mediating effect between perceived attributes and purchase intention (adj $R^2$=.698). Therefore hypothesis one to three were accepted. In order to test hypothesis four, four dimensions of perceived risk and demographic variables (age, gender, monthly household income, awareness of smart clothing, and purchase experience) were entered as independent variables in the regression models. Social psychological risk, economic risk, and gender (female) were significant to predict relative advantage (adj $R^2$=.276). When perceived observability was a dependent variable, social psychological risk, time loss risk, physical/performance risk, and age (younger) were significant in order (adj $R^2$=.144). However, physical/performance risk was positively related to observability. The more Koreans seemed to be observable of smart clothing, the more increased the probability of physical harm or performance problems received. Complexity was predicted by product awareness, social psychological risk, economic risk, and purchase experience in order (adj $R^2$=.114). Product awareness was negatively related to complexity, meaning high level of product awareness would reduce complexity of smart clothing. However, purchase experience presented positive relation with complexity. It appears that consumers can perceive high level of complexity when they are actually consuming smart clothing in real life. Risk variables were positively related with complexity. That is, in order to decrease complexity, it is also necessary to consider minimizing anxiety factors about social psychological wound or loss of money. Thus, hypothesis 4 was partially accepted. Finally, in testing hypothesis 5, social psychological risk and economic risk were significant predictors for product attitude (adj $R^2$=.122) and purchase intention (adj $R^2$=.099) respectively. When attitude variable was included with risk variables as independent variables in the regression model to predict purchase intention, only attitude variable was significant (adj $R^2$=.691). Thus attitude variable presented full mediating effect between perceived risks and purchase intention, and hypothesis 5 was accepted. Findings would provide guidelines for fashion and electronic businesses who aim to create and strengthen positive attitude toward smart clothing. Marketers need to consider not only functional feature of smart clothing, but also practical and aesthetic attributes, since appropriateness for social norm or self image would reduce uncertainty of psychological or social risk, which increase relative advantage of smart clothing. Actually social psychological risk was significantly associated to relative advantage. Economic risk is negatively associated with product attitudes as well as purchase intention, suggesting that smart-wear developers have to reflect on price ranges of potential adopters. It will be effective to utilize the findings associated with complexity when marketers in US plan communication strategy.