• Journal of Technology Innovation
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• v.30 no.3
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• pp.1-34
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• 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
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• v.7 no.1
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• pp.167-182
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• 2024

The aim of this study is to empirically explore the operational spillover effect among companies within chaebol groups, prominent corporate conglomerates in South Korea. Chaebols are known for their horizontal and vertical integration, fostering close collaboration among their constituent companies from a supply chain standpoint. Existing literature highlights the sharing of tangible and intangible resources within chaebol structures, leading to increased efficiency by minimizing transaction costs through resource sharing. This research investigates whether operational management performance within chaebol structures can be transmitted through cooperative resource utilization. To achieve this objective, we categorize leading companies and affiliate companies within chaebols and examine whether the operational management performance of leading companies significantly influences that of affiliate companies. Data on conglomerates, as defined by the Korea Fair Trade Commission, were collected, along with information on companies within these groups. Subsequently, the company with the highest revenue within each group was identified as the leading company, while the remaining companies were designated as affiliate companies. Our analysis reveals a significant positive relationship between the performance of inventory and facility resource management of leading companies and that of affiliate companies. This study sheds light on the transfer of operational management performance within conglomerates from a managerial perspective, underscoring the importance of reinforcing cooperation systems within the chaebol group. Furthermore, this research contributes to the academic discourse by delineating conglomerates from an operational management perspective and empirically demonstrating the transfer effect of operational management performance.

• 월간 기계설비
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• s.255
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• pp.62-63
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• 2011

대규모 기업집단의 계열사 간 내부거래에 대한 공시 범위 확대 등을 내용으로 하는 공정거래법시행령 개정(안)이 지난 9월 26일 입법예고(기간: 9월 26일~10월 17일)되었다. 이밖에도 기업결합의 사전신고 범위를 확대하고 상습 법위반 사업자에 대한 자진신고 감면 제한 근거조항 마련 등 시행령 운용과정에서 나타난 미비점을 보완했다. 이번 개정안은 법제처 심사 및 차관회의 국무회의 등 관련 절치를 거쳐 확정 공포되며 금년 12월 말부터 시행될 예정이다.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.428-443
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• 2018

Recently, many firms have been more interested in how the competitiveness of the supply chain can be enhanced, rather than that of the respective company. The purpose of this study is not only to investigate the relationships among the trust between companies, the supply chain integration, and the supply chain performance, but also to demonstrate how the firm size and the absorptive capacity can moderate these relationships. To conduct the hypothesis test including the causal relations between two factors and the moderating effects, 111 data were collected through a survey. As a result, the supply chain performance was positively affected by the supply chain integration as well as the trust between the companies. In addition, the trust had a significant effect on the supply chain performance. The result of the moderating effect of firm size indicates that, compared with a larger group, a smaller group has a stronger relationship between the trust and the supply chain performance, while the relationship between the supply chain integration and the supply chain performance is much stronger in the large group than the small group. As for the moderating effect of absorptive capacity, a higher absorptive group has stronger relationships between the trust and supply chain integration, and supply chain integration and supply chain performance than a lower absorptive group. The findings would provide significant implications for supply chain partners with different sizes and absorptive capacity.

• Journal of Korea Fair Competition Federation
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• no.39
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• pp.14-17
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• 1998

• Journal of Korea Fair Competition Federation
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• no.41
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• pp.83-85
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• 1999

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.305-305
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• 2017

많은 국가에서 중소기업의 기술혁신을 지원하기 위해서 다양한 직 간접적 지원 프로그램을 기획하고 운영한다. 이 연구는 R&D 투자 효율성을 제고하기 위한 간접 지원의 대표적인 사례 중에서 지식서비스, 특히 그중에서도 R&D 기획, 기술가치평가, 정보 지원 사업에 주목했다. 이 연구에서는 지식서비스의 일환으로 공공과 민간에서 다양하게 제공되고 있는 3가지 지원 사업을 대상으로 R&D 중소기업 중에서 수요 집단의 특징을 프로파일링 했다. 이런 프로파일링을 통해 기업의 해당 지식서비스 지원 적합성을 진단할 수 있는 계량적인 방법을 제안하고 나아가 이를 통한 처방 방법을 논의한다. 구체적인 연구 방법으로는 데이터 마이닝을 통한 분석 방법으로 수요 집단을 프로파일링 했으며, 전통적인 통계 방법인 판별분석 방법을 활용해서 구체적인 지식서비스 적합성 진단 모형을 제시했다. 본 연구에서는 특정 지식서비스 수요에 대한 중소기업의 특징을 프로파일링하기 위해서 설문정보를 활용했으며, 모형의 적정성을 검증하기 위해서 새로운 설문을 활용하는 등 총 6,600 기업에 대한 대규모 설문을 활용했다는데도 차별적 의의가 있다. 본 연구의 결과는 대규모 데이터를 바탕으로 한 중소기업에 대한 지식서비스 또는 R&D 진단과 처방 서비스를 제시해 중소기업과 정부 R&D 투자 효율성을 개선시키는데 기여할 것으로 기대된다.

• Journal of Korea Fair Competition Federation
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• no.39
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• pp.26-27
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• 1998

• Journal of Korea Fair Competition Federation
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• no.30
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• pp.45-45
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• 1998

• Journal of Korea Fair Competition Federation
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• no.163
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• pp.6-21
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• 2012