• Journal of the Korean association of regional geographers
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• v.13 no.6
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• pp.623-638
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• 2007

This paper debates on two different theoretical positions in explaining corporate adaptation. Until the 1980s, a restructuring perspective had dominated in explaining corporate success and adaptation. However, this perspective pays little attention to how firms adapt to environmental change and why some firms adapt successfully, while some others fail to adapt. Thus a restructuring perspective does not give insights into a context-specific explanation of corporate learning and adaptation. More recently, especially since the 1990s, academic focus on corporate adaptation and evolution has shifted towards exploring the nature of learning that leads to the dynamic competitiveness. A learning perspective emphasizes the influence of knowledge, learning and competence on corporate evolution. However, it reveals that this view is also less appropriate for explaining corporate adaptation in radical shifts in environment. In this context, the evolutionary theories of the firm need to seek to maintain a balance between two theoretical positions in order to understand more effectively the dynamic evolution and adaptation of the firm. This paper shows that the dynamics of corporate adaptation and evolution are an outcome of the mixture of perpetual processes of restructuring and learning, both continuous and discontinuous.

• The Korean Journal of Financial Management
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• v.14 no.1
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• pp.301-318
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• 1997

1981년 최초의 스왑거래가 있은 후부터, 스왑시장은 눈부신 성장을 보여 왔다. 현재까지 스왑시장이 왜 존재하는가 하는 물음에 대하여 여러 가지 이론들이 제시되어 왔다. 본 논문은 이러한 기존의 이론들을 살펴보고 이들과는 다른 각도에서 스왑의 존재를 설명한다. 스왑계약에 참여한 두 기업은 일련의 현금흐름을 교환하여 세후 순이익의 변동성을 감소시킴으로써 기업의 위험 프리미엄을 감소시키고 따라서 기업의 가치를 증가시킬 수 있다. 이러한 논리는 기업의 신용도 스프레드의 차이(quality spread differentials), 대리인 비용(agency costs), 또는 정보 비대칭(information asymmetry) 등의 마찰적 요인이 존재하지 않아도 성립한다.

• Proceedings of the Technology Innovation Conference
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• 2009.02a
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• pp.123-154
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• 2009

본 논문에서는 Chesbrough의 개방형 혁신 이론을 간략하게 소개하고, 그것이 기술경영 이론에서 지니는 정확한 위치와 의의를 진단함으로써 그가 정말 기여한 부분은 어디인지를 평가한다. 개방형 혁신이란 기업이 연구, 개발, 상업화에 이르는 일련의 혁신 과정을 개방하여 외부 자원을 활용함으로써 혁신의 비용을 줄이고 성공 가능성을 제고하며 부가가치 창출을 극대화하는 기업 혁신의 방법론으로 요약될 수 있다. 이 글의 결론은 개방형 혁신이 현상적으로도 최근의 현상이 아닐 뿐 아니라, 이론적으로도 기존의 내용과 다른 것이 없다는 것이다. 즉, 그의 개방형 혁신은 이름은 새롭지만 그 내용을 보면 새로운 혁신 방법론은 아니라는 평가이다. 그가 기여한 것은 기존에 이미 연구된 여러 주제들을 개방형 혁신이라는 하나의 이름으로 묶어줌으로써 기업 전략을 위한 통일된 프레임웍을 제공한 것에 있다. 이런 점에서 그는 기술혁신 방법론에 대한 일종의 "아키텍처 혁신"을 시도한 셈이라고 볼 수 있다. 그리고 최근에 활발해진 개방형 혁신의 배경으로서 지식 환경의 변화를 강조한 것도 그의 기여라고 볼 수 있겠다.

• The Korean Journal of Financial Management
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• v.12 no.2
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• pp.25-42
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• 1995

본 연구에서는 기업인수 합병공시 전후에 관찰되는 매수 매도가격차이중에서 정보비용부분의 움직임을 살펴봄으로써 정보비대칭하의 시장미시구조이론을 검증하였다. 공시일을 예측할 수 없는 기업인수 합병공시를 대상으로 함으로써 효율적시장가설의 검증을 병행하는데 본 연구의 의의가 있다. 검증의 결과는 시장미시구조이론과 효율적시장가설을 지지한다. 공시전 전체기간에 대한 분석에서는 스프레드의 증가가 없었으나 부분기간에 대한 분석에서 스페셜리스트가 스프레드를 증가시키는 것을 확인하였다. 스프레드의 증가는 공시 3일전과 4일전에 나타났으며 이는 정보거래자에 대한 손실을 피하기 위하여 스프레드를 증가시킨다는 이론의 예측과 일치하는 증거이다. 그러나 정보누출과 이의 감지에는 시간차이가 존재하였다. 우호적공개매수와 적대적공개매수의 비교분석에서도 기업인수의 실현여부와 관련된 정보비대칭 현상에 대해 이론의 예측과 일치하는 결과를 얻었다.

• Journal of the Korea Convergence Society
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• v.12 no.10
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• pp.161-167
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• 2021

This study was conducted for the purpose of comparing the advertising effect of Korean companies and Vietnamese domestic companies by applying the balance theory to Vietnamese consumers emerging as a new market for Korean companies. An experiment was conducted on female university students, and cognitive, emotional, and behavioral responses to advertisements in the two countries were investigated. The results showed that there was no difference in the cognitive dimension of Vietnamese consumers' evaluation of advertisements in Korea and Vietnam, but there is a difference in the emotional dimension and the behavioral dimension. This study contributed theoretically to the possibility of applying the balance theory to the study of international advertising effects, and the implications of international advertising of Korean companies in the underdeveloped markets were discussed.

• Journal of the Korean Geographical Society
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• v.28 no.4
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• pp.379-391
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• 1993

Present-day world economy is characterized by : technology nationalism, economic regionalism, market protectionism, multinational corporations, efc. All nations are striving for intensifying national economic rivalry and seeking after their own interests above everything else. Many regions of the world are also forming trading blocs, which could negatively affect nonmember states. The ultimate way to meet these difficulties is to establish production facilities in the countries imposing trade regulations. However, as the existing models of direct forrign investment (DFI) do not account for the particular nature of Korean firm's DFI activities, a new point of departure is imperative. It is because of this that Korean firms have only limited firm-specific advantages, the basic precondition of extant DFI theories, compared with their developed counterparts.

• The Journal of the Korea Contents Association
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• v.15 no.12
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• pp.471-482
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• 2015

Situational Crisis communication theory (SCCT), one of the major crisis communication theories, suggests that crisis managers have to choose the most effective crisis response strategy in accordance to the crisis type. However, there's a controversy over whether this theory is practically applicable in Korea. Therefore, this study analyzed statements of apology to see if companies in Korea are actually taking different response strategy according to the types of crisis. According to the result of analysis on 244 apology statements published in the newspapers from 2012 to spring of 2015, adaptive response strategy was mostly taken no matter what the crisis type was. In conclusion, there's a discrepancy in crisis response strategy between the theory suggested in SCCT and the current practices in Korea. This conclusion can contribute to devising an appropriate application of SCCT in Korea and to develop a more Korea relevant theory.

• Korean Security Journal
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• no.36
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• pp.177-200
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• 2013

As we enter a high industrial society that widens the gap between the rich and poor, demand for the security services has grown explosively. With the growth in quantitative expansion of security services, people have also placed increased requirements on more sophisticated and diversified security services. Consequently, market outlook for private security services industry is positive. However, Korea's private security services companies are experiencing difficulties in finding a direction to capture this new market opportunity due to their small sizes and lack of management-strategic thinking skills. Therefore, we intend to offer a direction of development for our private security services industry using a management-strategy theory and the Analytic Hierarchy Process(AHP), a structured decision-making method. A resource-based theory is one of the important management strategy theories. It explains that a company's overall performance is primarily determined by its competitive resources. Using this theory, we could analyze a company's unique resources and core competencies and set a strategic direction for the company accordingly. The usefulness and validity of this theory has been demonstrated as it has often been subject to empirical verification since 1990s. Based on this theory, we outlined a set of basic procedures to establish a management strategy for the private security services companies. We also used the AHP method to identify competitive resources, core competencies, and strategies from private security services companies in contrast with public companies. The AHP method is a technique that can be used in the decision making process by quantifying experts' knowledge and unstructured problems. This is a verified method that has been used in the management decision making in the corporate environment as well as for the various academic studies. In order to perform this method, we gathered data from 11 experts from academic, industrial, and research sectors and drew distinctive resources, competencies, and strategic direction for private security services companies vis-a-vis public organizations. Through this process, we came to the conclusion that private security services companies generally have intangible resources as their distinctive resources compared with public organization. Among those intangible resources, relational resources, customer information, and technologies were analyzed as important. In contrast, tangible resources such as equipment, funds, distribution channels are found to be relatively scarce. We also found the competencies in sales and marketing and new product development as core competencies. We chose a concentration strategy focusing on a particular market segment as a strategic direction considering these resources and competencies of private security services companies. A concentration strategy is the right fit for smaller companies as a strategy to allow them to focus all of their efforts on target customers in a single segment. Thus, private security services companies would face the important tasks such as developing a new market and appropriate products for such market segment and continuing marketing activities to manage their customers. Additionally, continuous recruitment is required to facilitate the effective use of human resources in order to strengthen their marketing competency in a long term.

• International Commerce and Information Review
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• v.19 no.1
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• pp.257-278
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• 2017

The paper examines the ownership structure and the firm value of online firms in the world. Data are gathered by using FACTIVA database for firms in the Dow Jones index for the 2014 fiscal year. The Ordinary Least Squares regressions, the Generalized Linear Model, and the model selection criteria are employed to analyze the relationship between the dependent and the independent variables. The paper tests theories such as the convergence of interest theory, the managerial entrenchment theory, and the eclectic theory. The paper finds that the ownership structure has an influence on the firm value depending on the rank of the large shareholders. While the first large shareholders have a negative association with the firm value, the presence of the second and the third large shareholders have a positive influence on the firm value. The paper also finds that the identity of the largest shareholders whether they are insiders or outsiders have an influence on the firm value. The proportion of shareholding by a large shareholder and her identity are variables which predict a firm value.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.654-687
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• 2006

Research-based spin-off venture, generally formed to commercialize technology originating from public research institution, could contribute to economic wealth creation and regional development. Although there are some interests in research-based spin-off venture and its success factors across stages of growth, little empirical research was done on research-based spin-off venture's success factors in Korea. The purpose of this research is to investigate research-based spin-off venture's success factors across stages of growth. The methodology used is theoretical and case study. Based on theoretical study, it is found that there are four stages of growth in research-based spin-off ventures such as generating business ideas, finalizing new venture projects, launching spin-off firm, and strengthening the creation of economic value. Then, in order to verify them, a case was analyzed focused on success factors across stages of growth. Additionally, implications and limitations of the result of this study are discussed.