• International Area Studies Review
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• v.20 no.2
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• pp.85-111
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• 2016

Global semiconductor companies is investing enormous capital worldwide. And direct investment in China is increasing greatly these days, Especially, global semiconductor companies are setting up a factory in China due to expanding market rather than utilizing low labor cost. Therefore, this study is trying to analyze the background and process of direct investment from global Korean and Taiwanese semiconductor companies in China. Firstly, In 1996, Samsung semiconductor established a back end process factory in Suzhou. And in 2014, Samsung semiconductor set up a front and back end factory in Xian. Secondly, In 2006, SK Hynix built a front and back end factory in Wuxi. and SK Hynix set up a back end factory named Hitech semiconductor with Chinese company in 2009. Later in 2015, SK Hynix established a back end factory in Chongqing. Thirdly, In 2004, TSMC started to operate a factory in Shanghai, and in 2018, TSMC is going to establish a factory in Nanjing. Lastly, UMC bought a stock to produce product in Chinese local company named HJT, and at the end of 2016, UMC is going to finish building a factory in Xiamen. As a result, it was proved that most companies hoped to expand the chinese market by setting up a factory in china. In addition, Samsung expected to avoid a risk by setting up a factory in china, and SK Hynix wanted to avoid a countervailing duty by setting up a factory in china. Based on the result of this study, this study indicates some implications for other semiconductor companies which are very helpful for their future foreign direct investment.

• The Safety technology
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• no.189
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• pp.22-23
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• 2013

종합부품기업 아이원스(주)는 1993년 3월 자동차 미디어 관련 부품제작 업체인 동아엔지니어링으로 출발했다. 1994년에는 반도체 LCD부분 그리고 2003년에는 삼성전기(주)광디바이스 사업으로 진출했으며, ISO9001 ISO14001 인증을 획득한 후 2005년 벤처기업으로 등록하면서 전도유망한 기업으로 성장해왔다. 이후 2005년 아이원스 주식회사로 법인전환을 하면서 2006년 기흥 세정공장 준공, 2007년 삼성전자 메모리 사업부 세정 협력업체 등록, 병역 특례업체 선정, 2011년 삼성전자 생산기술연구원 업체 등록, 2013년 2월 코스닥 상장 등으로 지속적인 발전을 이어오게 된다. 이곳의 이러한 성장에는 이문기 대표이사의 안전에 대한 각별한 신념이 밑거름이 됐다. 직원들의 안전을 회사의 가장 큰 가치로, 그리고 직원들을 회사의 가장 큰 자산으로 여기고 안전에 집중 투자하면서 무재해를 이어온 것이 기업 성장의 원동력이 된 것이다. 안전경영의 좋은 본보기가 되고 있는 이문기 대표이사를 찾아가 그만의 안전철학을 들어봤다.

• Korean Journal of Labor Studies
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• v.14 no.2
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• pp.443-481
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• 2008

이 글은 한국의 대표적인 기계산업 집적지인 창원 지역에서 최근 급증하고 있는 제조업 해외직접투자의 유형과 그것이 지역 산업에 미치는 영향을 탐구하고 있다. 분석은 생산의 해외전개가 지역 고용에 '어떠한' 영향을 '어떻게' 미치는지 그 기제와 문제점을 조명하는 데 주안점을 두고 있다. 창원의 해외직접투자는 대기업뿐만 아니라 중소기업이 투자 주체가 되어 중국을 중심으로 한 아시아지역을 대상으로 급속도로 늘어나고 있다. 해외직접투자는 지역제조업체들을 글로벌 생산네트워크로 편입하고 사회적 분업체제를 개편하고 있다. 해외투자의 급증으로 지역내 투자는 부진하나 그럼에도 불구하고 산출과 고용이 성장세를 유지하고 있고, 지역수준에서 제조업 공동화가 발생했다고 할 수는 없다. 그러나 저임활용을 겨냥한 생산의 해외전개 추세가 지속된다면 업종별 공동화의 우려가 현실화될 가능성이 있다. 생산의 해외전개는 원하청기업간 관계에서 기술력이 부족한 중소하청업체들에 대하여 단가 인하의 압력을 가중시키고, 노동자들에게는 고용불안, 임금 등 근로조건을 저하시키는 방향으로 사회적 분업의 개편을 가져온다.

• Information Systems Review
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• v.9 no.1
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• pp.105-120
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• 2007

With the fast development of the Internet and the increasing dependence on information infrastructures, companies are faced with various information security threats such as information leakages, modifications, and information breaches. South Korea is one of the leading countries in the Internet usage, but is ranked relatively low when it comes to information security. In fact, many Korean firms have suffered financial losses and damaged corporate images from the information security breaches. However, because of the difficulties in quantifying the costs of the information security breaches, Korean companies tend to delay their investment decisions on information security. The purpose of this study is to measure the cost of information security breach and the economic value of security investment using the event study methodology. Our results show that the announcement of an information security breach negatively influenced the market value of the corresponding company. The effect was statistically significant at the significance level of p=0.05. The breached companies lose, on average, 0.86% of their market values on the day of the announcement - an average loss in market capitalization of $55 million. On the other hand, the investment on information security had no effect on the stock price or the market value of the firm.

• Journal of Technology Innovation
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• v.22 no.3
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• pp.37-63
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• 2014

This study is intended to demonstrate how different factors induce the Korean government's direct investment in research and development according to the type of business enterprise in Korea. We analyzed that what factors made the government directly invest in research and development by using a total of 18,272 company panel data, which are not limited to specific industries or government-led research and development (R&D) programs. The results showed that the direct investment for R&D by the government led to the increase in the number of researchers in SMEs. For major companies, the direct investment resulted in the increase of sales and company's own R&D expenses. Moreover, this study found that government's direct support for R&D even led to the decrease of SMEs' own R&D expenses; however, this result was not statistically significant. In addition, the most significant factor to increase both SMEs' and major company's own R&D expenses was the sales amount of the company, rather than government's direct investment for R&D. The factor that increases sales was the company's own R&D expenses, rather than government's direct investment for R&D. Through the analysis using Mixed Effects Model, this study suggested the policy should be changed to make SMEs invest in its own R&D expenses, rather than to secure researchers of SMEs by government's direct investment for R&D.

• The Journal of Society for e-Business Studies
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• v.20 no.2
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• pp.1-14
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• 2015

In this paper, we investigate the relationship between Internet search trends and stock market. Under the assumption that investors may use Internet search engine to obtain information for companies of their interests before taking actual investment actions, the relationship between the changes on Internet search volume and the fluctuation of trading volume as well as stock price of a company is analyzed with actual market data. A search trend investment strategy that reflects the changes on Internet search volume is applied to large enterprises' group and to small and medium enterprises' (SMEs) group, and the correlation between profit rate and trading volume is analyzed for each company group. Our search trend investment strategy has outperformed average stock market returns in both KOSPI and KOSDAQ markets during the seven-year study period (2007~2013). It is also shown that search trend investment strategy is more effective to SMEs than to large enterprises. The relationship between changes on Internet search volume and stock trading volume is stronger at SMEs than at large enterprises.

• The Journal of Society for e-Business Studies
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• v.11 no.1
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• pp.91-112
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• 2006

Unlike typical corporate investments, IT expenditures have direct impact on many aspects of a business, including those that are difficult to quantify. Therefore, financial indicators alone do not do justice to the full effect of an If investment. Proposed in this paper is a methodology to measure the return on IT investments, including non-financial impacts expressed in terms of monetary values. This methodology shows tangible cost as well as hidden cost by analyzing total cost of ownership. The methodology also produces ROI by performing cost benefit analysis including financial and non-financial factors. This paper suggests a more objective validation of If's impact on the business activities. It rationalizes investment priorities and provides a systematic approach to effective IT investment.

• International Area Studies Review
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• v.15 no.2
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• pp.247-273
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• 2011

This study analyzes the impacts on the M&A and greenfield of macroeconomic variables of home and host countries, after identifying current status and characteristics of the M&A and greenfield related to the entering way of Korean firms in China. Main empirical results are summarize as follows. First, as for foreign exchange variable, the decreased value of Korea won shows the negative correlations with both of the greenfield and M&A. Second, the real interest rate of Korea to measure the cost of capital is not significant statistically. Third, while the host country's stock market index, Shanghai Comprehensive Index, shows the expected negative correlations with the investment in the case of small & medium firm and light industry, it shows the positive correlations which is not consistent with general expectation in the case of large firm and heavy industry. Fourth, the openness of host country shows the positive correlations with both of the greenfield and M&A. Finally, in regard to the M&A, China's GDP to measure the market size of host country is not significant statistically while it shows the strong positive relationship with the greenfield investment.

• Knowledge Management Research
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• v.24 no.2
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• pp.87-115
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• 2023

This study aims to examine the causal relationships between sales and employment for public technology-based startups. Although there is a limit to statistical generalization due to the poor understanding of the actual conditions of public technology start-up companies, these companies were analyzed by classifying them into high-growth companise, potential growth companies, and other companies. In order to understand the causal relationship, and to estimate the time required to be effective, panel vector autoregression was applied. As a result, the performance creation mechanism was identified as government supoort and private investment was mutually causal with employment, sales did not cause employment, and employment caused sales. In other words, it was found that employment plays an mediator role in public technology based startups' performance mechanism. In addition, private investment had the effect of improving employment and sales in the short time than governments support, and showed that firms with high employment can attract government support and private investment. This study are academically meaningful in that they empirically revealed the process of performance creation, whereas previous studies had only shown whether there was an effect on performance. It also has a policy contribution by suggesting the need for effective policy promotion by considering the 'employment' factor, such as human resource support, as more important.

• KDI Journal of Economic Policy
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• v.16 no.2
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• pp.111-139
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• 1994

최근 우리 정부는 공기업(公企業)의 민영화(民營化)를 적극 추전하고 있는바, 우리보다 앞서 민영화정책(民營化政策)을 성공적으로 추진한 경험이 있는 영국(英國)의 경우를 살펴봄으로써 앞으로 계속될 민영화(民營化) 정책수행(政策遂行)에 도움이 될 정책적(政策的) 시사점(示唆點)을 얻을 수 있을 것으로 판단된다. 특히 본고에서는 민영화기업(民營化企業)의 최초공모주(最初公募株) 가격결정(價格決定), 민영화기업 주식(株式)의 투자성과(投資成果) 및 민영화가 주식대중화(株式大衆化)에 미친 영향의 분석에 초점을 두고 있다. 민영화 기업의 최초공모주(最初公募株)는 일반기업의 최초공모주에 비해 현저히 저평가되어 발행되고 있음이 조사되었는데, 이는 정보비소유(情報非所有) 투자자(投資者)에게 최소한의 수익률 즉 무위험수익율(無危險收益率)은 보장해 주어야 한다는 Rock(1986)의 winner's curse 모형의 관점에서 설명되고 있다. 민영화기업의 최초공모주는 장기적으로 정(正)의 초과수익율(超過收益率)을 시현하고 있는데 이는 일반기업의 최초공모주의 주가(株價)와는 대조적인 것이다. 영국(英國) 민영화기업의 주식공급(株式供給)은 개별주주수의 증가를 가져와 주식대중화(株式大衆化)에는 상당한 영향을 미친 것으로 분석되었으나 많은 사람들이 단기간내에 주식(株式)을 매각하고 있어 장기보유유도(長期保有誘導)에는 미흡했던 것으로 밝혀졌다. 이러한 분석결과는 앞으로 우리나라의 공기업민영화(公企業民營化) 추진과정에서 주요 쟁점이 될 것으로 예상되는 주가결정(株價決定)에 대한 시사점을 제공할 수 있으며, 또한 일반투자자(一般投資者)의 민영화주식에 대한 투자전략을 수립하는데 도움을 줄 수 있을 것이다.