• Management & Information Systems Review
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• v.34 no.2
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• pp.193-206
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• 2015

The purposes of this paper are to investigate the impact of managers' agency problem on asymmetrical behavior of SG&C and to examines whether or not the corporate governance mechanisms can have any moderating effects on Asymmetrical behavior of SG&C. To test empirically the above mentioned purposes, we gathered firm-year data of manufacturing firms from 2007 to 2012 and the sample firms are listed on the Korean Stock Exchange. The findings of this research are summarized as follows: Firstly, for those firms whose agency problems are high, the stickiness of SG&A increases as sales variation. The results imply that managers are not willing to reduce their perquisite consumption in proportion with sales reduction. Secondly, we investigate how corporate governance mechanisms influence the cost stickiness behaviors of SG&A for those firms whose agency problem are high(above the median value of free cash flow used as a proxy of agency problem). The results are that as the effectiveness of corporate governance mechanisms improve the cost stickiness of SG&A mitigation except for the insider ownership. These results show that agency problem has impact on the asymmetrical behavior of SG&A. And effective governance mechanisms have moderate effects on the reducing stickiness behavior of SG&A caused by agency problem.

• Journal of Navigation and Port Research
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• v.39 no.6
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• pp.507-514
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• 2015

The purpose of this study is to analyze the efficiency of resident companies in port hinterland logistics that are currently operating. The subjects of the efficiency analysis include 13 logistics hinterland resident companies in Incheon Port and Busan Port. Investment amounts, area, and number of employees were selected as input variables, and volume and sales amounts were selected as output variables. As for the efficiency analysis methods, traditional CCR and BCC models were applied. To overcome the limits of these models, a super-efficiency model and a Super-SBM model were also applied. According to the super-efficiency model analysis, the mean was 0.777 and the standard deviation was 0.54, indicating an approximate 33% difference of efficiency among the companies. According to the Super-SBM model analysis, the mean was 0.649 and the standard deviation was 0.489. When considering residuals in the super-efficiency model, the average efficiency score among the companies decreased by approximately 13%. This means that the efficiency score decrease of DMU, where non-radial residuals exist at about 18% on average. Examining the inefficiency of the inputs, the inefficiency of the number of employees turned out to be largest at -45%, compared to 'area' at -33% and 'investment amount' at -33%.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.119-133
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• 2024

As a result of significant investments by the government in promoting public technology commercialization and fostering a venture startup ecosystem, there have been quantitative achievements, such as the registration of over 1,600 Innopolis Start-ups since 2006, generating a total revenue of 1.1 trillion won as of 2021. However, these achievements have been overshadowed by critical qualitative challenges, including a continuous decline in average revenue per Innopolis Start-up. This led to a focus on whether managers' technological and market orientations affect business performance. This study aims to provide insights into improving the qualitative growth of Innopolis Start-ups by analyzing the effects of technological and market orientations on business performance, as well as the moderating effects of adjusting marketing and research and development (R&D) costs on this relationship. Through prior research and empirical analysis, this study derives three main findings. First, technological excellence and innovation significantly influence the business performance of Innopolis Start-ups, while technological intensity does not. Second, customer orientation and competitive orientation significantly impact business performance, whereas entry barriers as a single factor do not. Third, adjusting marketing and R&D costs, as controlled variables obtained through general situations, has no direct impact on other variables. However, it interacts with entry barriers, influencing financial business performance, with R&D costs exhibiting a negative buffering effect and marketing costs showing a positive enhancing effect. This study confirms that both technological and market orientations directly influence the business performance of Innopolis Start-ups, thus being crucial factors affecting their growth. Moreover, it establishes that investments in marketing and R&D play significant roles in alleviating initial entry barriers and enhancing financial performance. Consequently, it underscores the importance of reinforcing technological and market orientations tailored to the characteristics of Innopolis Start-ups. Additionally, it proposes five theoretical contributions: strengthening institutional support systems for technology commercialization and innovation, improving qualitative evaluation criteria during the selection process of Innopolis Start-ups, conducting comprehensive analyses of technological and market aspects during startup selection, enhancing support for marketing education and consulting for smooth market entry, and supporting expenditure strategies and milestone setting tailored to the industrial characteristics of individual Innopolis Start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.193-216
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• 2020

Due to the recent mid- to long-term slump and falling growth rates in the global economy, interest in organizational structures that create new products or services as a new alternative to survive and develop in an opaque environment both internally and externally, and enhance organizational sustainability through changes in production methods and business innovation is increasing day by day. In this atmosphere, we agree that the growth of small and medium-sized venture companies has a significant impact on the national economy, and various efforts are being made to enhance the technological innovation capabilities of the members so that these small and medium-sized venture companies can enhance and sustain their performance. The purpose of this study is also to investigate how the technological innovation capabilities of small and medium-sized venture companies correlate with the performance of knowledge management and to analyze the role of network capabilities to organize the strategic activities of enterprise to obtain the resources and organizational capabilities to be used for value creation from external networks. In other words, research was conducted on the impact of technological innovation capabilities of small and medium venture companies on knowledge management performance by using network capabilities as parameters. Therefore, in this study, we would like to verify the hypothesis that innovation capabilities will have a positive impact on knowledge management performance by using network capabilities of small and medium venture companies. Economic activities based on technological innovation capabilities should respond quickly to new changes in an environment where uncertainty has increased, and lead to macro-economic growth and development as well as overcoming long-term economic downturns so that they can become the nation's new growth engine as well as sustainable growth and survival of the organization. In addition, this study was conducted by setting the most important knowledge management performance within the organization as a dependent variable. As a result, R&D and learning capabilities among technological innovation capabilities have no impact on financial performance. In contrast, it was shown that corporate innovation activities have a positive impact on both financial and non-financial performance. The fact that non-financial factors such as quality and productivity improvement are identified in the management of small and medium-sized venture companies utilizing their technological innovation capabilities is contrary to a number of studies by those corporate innovation activities affect financial performance during prior research. The reason for this result is that research companies have been out of start-up companies for more than seven years, but sales are less than 10 billion won, and unlike start-up companies, R&D and learning capabilities have more positive effects on intangible non-financial performance than financial performance. Corporate innovation activities have been shown to have a positive (+) impact on both financial and non-financial performance, while R&D and learning capabilities have a positive (+) impact on financial performance by parameters of network capability. Corporate innovation activities have been shown to have no impact on both financial and non-financial performance, and R&D and learning capabilities have no impact on non-financial performance. It could be seen that the parameter effects of network competency are limited to when R&D and learning competencies are derived from quantitative financial performance. It could be seen that the parameter effects of network competency are limited to when R&D and learning competencies are derived from quantitative financial performance.

• Food Industry
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• s.181
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• pp.10-37
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• 2004

식용유지는 식용으로 이용할 수 있는 가시적인 상태의 액상(oil) 또는 고체상(fat)의 식용기름을 말하지만 식품산업 측면에서는 가시적인 상태의 유지(가시지방)뿐만 아니라 유지가공 식품이나 기타의 식품에 함유되어 섭취되는 비가시적인 상태의 유지(비가지 지방)도 포함될 수 있다. 식용유지는 생명을 유지하는데 없어서는 안될 영양소로서 탄수화물 단백질과 함께 3대 영양소 중의 하나이며 1g당 9kcal를 내는 고도로 농축된 에너지원이면서 필수지방산의 공급원이고 비타민 A, D, E 등의 지용성 비타민과 기타 특수한 영양성분의 운반체로서 높은 영양적 가치를 갖는다. 지방성분은 음식물로부터 섭취가 불가능할 경우에는 체내에서 탄수화물이나 단백질을 기질로 하는 대사과정에서 합성되어 지질 또는 필수지방산과 지용성 비타민은 식품으로 지방질과 함께 흡수되어야 하므로 식품의 한 성분으로 지방의 중요성을 인정받고 있다. 1960년대 이후 국민소득의 증가와 함께 식생활도 다양화되고 서구화 간편화되면서 지방 함량이 높은 식품과 유지를 이용한 식품의 소비가 증가하였고 전체적인 유지 소비량도 늘어나는 추세에 있다. 60년대 초에는 총열량 중 지방이 차지하는 비율이 $6\%$ 정도였으나 최근에는 급격히 증가되어 2000년말 현재 $25.5\%$로 증가하였다. 97년까지 계속 증가하던 공급 에너지량은 98년 IMF의 영향으로 2,799 kcal까지 감소했으나 99년 들어 IMF 이전 수준으로 회복되었다. 또한 연간 일인당 순 식용유지류 공급량은 1990년대 까지 급격히 증가하였으나 이후로는 소폭 증가하는 추세이다. 2000년말 현재 식용유지 총 공급량은 76만2 천톤으로써 99년 73만5 천톤에 비해 2.7만톤이 증가하였다. 1998년 IMF 시기를 제외하고는 공급물량은 계속해서 증가 추세이다. 특히 1998년도에 비하여 2000년도에 식물성 유지는 2배 가까이 증가하였으나, 동물성 유지는 절반 이하로 감소되는 추세이며 공급물량으로 보면 대두유, 팜유가 주요 유종으로 식물유지 전체에서 차지하는 비중이 $72.3\%$로 압도적이다. 라면용 튀김기름과 마가린 쇼트닝의 원료로서 대부분 사용되는 팜유를 제외하고 가정용 식용유의 대부분을 차지하는 대두유가 이처럼 식용유지 시장의 대부분을 차지하게 된 이유는 첫째, 90년대 초반 수입 자유화 이후 타 유종 대비 낮은 가격을 형성하여 유지업체가 수입을 늘린 것이고 둘째로는 국내에서 대두유와 대두박을 생산하는 대두가공업체의 안정적 대두유 공급이 주요 원인이라고 할 수 있다. 식용유지의 시장규모는 식품공전상 식용유지로 분류된 제품들의 2000년도 출하액으로 보면 약 6,616 억원 정도이다. 한편 유종이 단순했던 가정용 식용유지 시장이 최근 새로워지고 있다. 주로 조리용으로 사용했던 것에서 건강을 생각하는 품목으로 바뀌는 경향이다. 아직은 가정용에서 대두유가 가장 많지만 옥배유나 채종유 더 나아가 건강이미지의 식용유인 홍화유 올리브유 해바라기유등이 증가하고 있는 추세이다. 한편 기존 식용유가 비만의 원인인 것 때문에 기피되던 것에서 새롭게 다이어트용 식용유 제품이 출시되어 시장에 새 바람이 불고 있다. 일본 식용유지 시장규모는 물량으로 172 만톤, 금액으로는 2,786 억엔(약 2조7860 억원) 수준이다. 지난 10년간 증가율은 물량 측면에서 약 $5\%$정도 신장하고 금액으로는 큰 증감이 없었다. 식용유는 조리의 기초 소재로서 안정한 수요를 갖고 있지만 주요 유종인 샐러드유의 가격이 하락하여, 전체적으로 시장이 물량이 증가하면서도 매출액이 신장하지 못하여 시장규모는 축소되었다고 할 수 있다. 일본 식용유지 업계의 제품동향을 보면 거의 모든 업체가 가정용 시장에서 건강 기능성 식용유지를 출시하고 있다는 점이다. 물론 일본은 건강기능성 식품에 대한 제도적인 뒷 받침이 되어 있어 기능성 식품의 시장출시가 용이한 점이 가정용 시장에 큰 영향을 미쳤다고 볼 수 있다. 유지 산업의 고부가가치화를 위해서는 전통적인 산업의 제품과 기술만으로는 달성하기 어렵다. 국내와 일본 식용유지 업계의 경향을 참고해 볼 때 차별화된 식용유지 제품과 기술의 개발이 절실히 필요하다. 앞서 언급한 고부가가치 제품과 기술 관련 사향을 바탕으로 국내 유지분야가 중점적으로 연구할 분야를 선정해 보면 리파제의 고정화 연구, 생물공학 기술을 활용한 효소의 개발과 이를 이용한 유지 가공 기술 연구, 유지성분의 유화 안정화 기술 연구, 식용유지의 선택적 수소경화 기술 연구 트랜스 지방산 저감기술연구, 효소 반응조 설계기술 연구, 지질 분자구조 분석기술 연구 분야 등이 유망하다. 상기와 같은 연구 분야를 육성하기 위해서는 유지 전문 인력의 육성, 해외 네트웍의 구축, 산학연 공동연구 추진, 국가적 차원의 정책 및 지원 등이 절실하다.

• Asia Marketing Journal
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• v.14 no.2
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• pp.65-96
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• 2012

Brand has received much attention from considerable marketing research. When consumers consume product or services, they are exposed to a lot of brand related stimuli. These contain brand personality, brand experience, brand identity, brand communications and so on. A special kind of new crisis occasionally confronting companies' brand management today is the brand related rumor. An important influence on consumers' purchase decision making is the word-of-mouth spread by other consumers and most decisions are influenced by other's recommendations. In light of this influence, firms have reasonable reason to study and understand consumer-to-consumer communication such as brand rumor. The importance of brand rumor to marketers is increasing as the number of internet user and SNS(social network service) site grows. Due to the development of internet technology, people can spread rumors without the limitation of time, space and place. However relatively few studies have been published in marketing journals and little is known about brand rumors in the marketplace. The study of rumor has a long history in all major social science. But very few studies have dealt with the antecedents and consequences of any kind of brand rumor. Rumor has been generally described as a story or statement in general circulation without proper confirmation or certainty as to fact. And it also can be defined as an unconfirmed proposition, passed along from people to people. Rosnow(1991) claimed that rumors were transmitted because people needed to explain ambiguous and uncertain events and talking about them reduced associated anxiety. Especially negative rumors are believed to have the potential to devastate a company's reputation and relations with customers. From the perspective of marketer, negative rumors are considered harmful and extremely difficult to control in general. It is becoming a threat to a company's sustainability and sometimes leads to negative brand image and loss of customers. Thus there is a growing concern that these negative rumors can damage brands' reputations and lead them to financial disaster too. In this study we aimed to distinguish antecedents of brand rumor transmission and investigate the effects of brand rumor characteristics on rumor spread intention. We also found key components in personal acceptance of brand rumor. In contextualist perspective, we tried to unify the traditional psychological and sociological views. In this unified research approach we defined brand rumor's characteristics based on five major variables that had been found to influence the process of rumor spread intention. The five factors of usefulness, source credibility, message credibility, worry, and vividness, encompass multi level elements of brand rumor. We also selected product involvement as a control variable. To perform the empirical research, imaginary Korean 'Kimch' brand and related contamination rumor was created and proposed. Questionnaires were collected from 178 Korean samples. Data were collected from college students who have been experienced the focal product. College students were regarded as good subjects because they have a tendency to express their opinions in detail. PLS(partial least square) method was adopted to analyze the relations between variables in the equation model. The most widely adopted causal modeling method is LISREL. However it is poorly suited to deal with relatively small data samples and can yield not proper solutions in some cases. PLS has been developed to avoid some of these limitations and provide more reliable results. To test the reliability using SPSS 16 s/w, Cronbach alpha was examined and all the values were appropriate showing alpha values between .802 and .953. Subsequently, confirmatory factor analysis was conducted successfully. And structural equation modeling has been used to analyze the research model using smartPLS(ver. 2.0) s/w. Overall, R² of adoption of rumor is .476 and R² of intention of rumor transmission is .218. The overall model showed a satisfactory fit. The empirical results can be summarized as follows. According to the results, the variables of brand rumor characteristic such as source credibility, message credibility, worry, and vividness affect argument strength of rumor. And argument strength of rumor also affects rumor intention. On the other hand, the relationship between perceived usefulness and argument strength of rumor is not significant. The moderating effect of product involvement on the relations between argument strength of rumor and rumor W.O.M intention is not supported neither. Consequently this study suggests some managerial and academic implications. We consider some implications for corporate crisis management planning, PR and brand management. This results show marketers that rumor is a critical factor for managing strong brand assets. Also for researchers, brand rumor should become an important thesis of their interests to understand the relationship between consumer and brand. Recently many brand managers and marketers have focused on the short-term view. They just focused on strengthen the positive brand image. According to this study we suggested that effective brand management requires managing negative brand rumors with a long-term view of marketing decisions.