• Journal of Technology Innovation
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• v.17 no.1
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• pp.149-177
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• 2009

Today, the phase of modem war is very different from past war. That is, the winning of war depends on the ability to obtain information and high technology. The purposes of this research are to propose an effective R&D governance model in national defense sector and to present R&D strategy for obtaining core national defense technology. As a part of collaborative innovation, the strategy to exchange R&D results actively between the defense sector and the private sector will be discussed. The main contribution of this research is dearly defining the concept of R&D governance in national defense sector and applying it to an actual case. The national defense R&D governance model proposed in this paper is based on the characteristics of national defense R&D which are different from other industries. The analysis of business success factors for national defense R&D through the T-50 case study is presented in detail. The T-50 case study reveals the importance of strategic intent, core technology knowledge base, organizational structure, and project management.

• Journal of the Korean association of regional geographers
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• v.5 no.2
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• pp.29-45
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• 1999

This study reviewed theories on entrepreneurial local governance and inquired the changing regional policy in Chonnam region. The region became exposure as the direct investment unit of global capital by globalization of capital, the inter-regional competition and the relative reduction of the role and function of nation state. Therefore local government have the relative autonomy and the region is effected as the chosen space by capital according to the free movement of capital. It has been argued that there has been a reorientation of urban governance away from the local provision of welfare and services to a more outward-orientated stance designed to foster and encourage local growth and economic development. These profound changes in the way that cities operate have seen the public sector taking over characteristics once distinctive to the private sector leading many commentators to term such modes of governance as entrepreneurial. In Chonnam region, many local governments are introducing entrepreneurial policies for regional development. It appears as place marketing strategy to attract capital and tourists. This strategy is very important to used identity or culture of region in order to make the attractive region. The entrepreneurial characteristics and strategies appear as image unification of region, commodity development of natural or cultural resource, event and business projects. From this point of view, the entrepreneurial policy that is based upon regional growth can cause the problem of social justice like distributional distortion and inequality.

• The Korean Journal of Financial Management
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• v.26 no.2
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• pp.33-61
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• 2009

From the perspective of corporate governance, we examine the acquirers' performance of mergers and acquisitions in KOSDAQ Market. The empirical results of our study show that inside an executive shareholders and outside minor shareholders, affect acquirers' performance in M&A's : the ownership of outside minor shareholders is positively correlated with the performance of acquirers. and, the ownership of insiders, such as that of an executive shareholders, does have significant effect on the performance of M&A's. Since the current literature concludes that the improvement of corporate governance in KOSDAQ Market would enhance the shareholders' wealth, the results of our study implies that outside minor investors, as well as insiders, are playing an important role in the corporate governance.

• Journal of the Economic Geographical Society of Korea
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• v.9 no.2
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• pp.167-180
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• 2006

The Ruhr region used to be a large industrial area, working as an engine of economic growth of the Germany. However, the region has been suffering from economic and social problems originating from de-industrialization. Since the 1970s, various levels of governments have attempted to solve the problems with policies of regional innovation, e.g., establishing technology parks, competence centers, and business incubators to promote start-ups, technology transfers, and networks between governments, businesses, universities, public research institutes, and the public. In this context, this paper attempts to analyse governance of regional innovation policies of the Ruhr area, based on an analytical framework developed by a groups of researchers, i.e.. Bae et al (2006), The paper concludes that the roles of governments are important in creating and implementing regional innovation policies of the Ruhr area, the policies heavily rely on the R&D capacity of local universities and public research institutes; and various levels of governments have different roles to play.

• Journal of the Korea Society of Computer and Information
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• v.25 no.7
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• pp.159-165
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• 2020

With respect to the cause of asymmetric cost behavior, there are two streams of the literature. One stream focused on effect of managerial expectation and the other explained using agency system. In this study, we aim to investigate the determinants of asymmetric cost behavior in these streams. We first examine the impact of managerial overconfidence and optimistic bias on asymmetric cost. We also examine ownership ratio as a proxy of the quality of corporate governance effects on asymmetric cost. The results are as follows. First, firms have the anti-sticky asymmetric cost behavior. Second, we find that the firms with managerial optimistic bias mitigate the degree of asymmetric cost. This finding implies that managerial optimism is a factor that alters asymmetric cost behavior. Third, the degree of asymmetric cost is weaker in case of firms with higher manager's ownership. This result provides an important empirical evidence for understanding the role of corporate governance in cost behavior.

• Journal of the Economic Geographical Society of Korea
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• v.9 no.1
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• pp.81-96
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• 2006

The Lorraine region of France is one of the regions in the core of Europe that suffered most from the decline of its traditional industries. Since the 1970s, various levels of governments have attempted to solve the economic and social problems originating from de-industrialization with policies of regional innovation, e.g., establishing technopole, the creation of the technology transfer network, the launch of the RTP project, and business incubators to promote start-ups, technology transfers, and networks between governments, businesses, universities, public research institutes, and the public. In this context, this paper attempts to analyse governance of regional innovation policies of the Lorraine region, based on an analytical framework developed by a groups of researchers, i.e.. Bae et at (2006). The paper concludes that the roles of governments are important in creating and implementing regional innovation policies of the Lorraine region; the policies heavily rely on the R&D capacity of universities and public research institutes; and various levels of governments have different roles to play.

• STI Policy Review
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• v.7 no.2
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• pp.106-131
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• 2016

The general purpose of this paper is to identify opportunities for and to measure existing collaboration on research and development between institutions from the countries of Asia and Latin America in FEALAC's framework, in the fields of biotechnology and nanotechnology and their convergence. The methodological approach includes scientific and technological surveillance and research seeking to identify both the R&D and innovation capacities of the countries as well as the degree of international cooperation between countries of the two regions; case studies and a study of the governance framework of international collaboration in R&D about issues considered global challenges. The study has three main findings. First, nanotechnology, biotechnology and their convergence contribute to solving the problem of contamination by heavy metals affecting most of the countries that are part of FEALAC and to address problems arising from the accelerated rate of energy consumption, which also contributes to environmental damage. In this scenario, important business opportunities arise from the adaptation and development of bio-refinery technologies. Second, the scientific relationship between FEALAC countries, mainly between Asian and Latin American countries, is weak as can be seen in research for articles and patents. But there is plenty of room and potential for improvement. Third, current and upcoming joint R&D programs and projects should be linked both to existing governance structures and to new ones that serve as experiments of STI public policy regarding innovative management of intellectual property and capacity building. Practical implications are included in lessons learned and a set of recommendations involving a couple of proposals. One proposal calls for research and innovation in promising fields for international cooperation. Another proposal creates mechanisms in the governance framework for sharing knowledge, capacity building, and funding.

• Journal of the Korea Convergence Society
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• v.10 no.4
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• pp.175-182
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• 2019

The purpose of this study is to test whether credit rating agencies highly evaluate the credit ratings of corporate bonds based upon management participation and ownership share by family governance in ownership structure forms. The samples of this study for empirical analysis were 1,449 non-financial companies listed on Korean Exchange from 2011 to 2016, over whose firm/year data this study conducted regression analysis. The results of empirical analysis in this study are as follows. First, family businesses had positive effects on the evaluation of corporate credit ratings. Second, if the ownership share of family businesses was higher, corporate credit ratings were higher. This result means that high ownership share in family businesses has very positive effects on the credit ratings of related businesses. It is meaningful that this study tested the effect that family businesses can alleviate agency problems and reduce information asymmetry. Furthermore, it is also academically meaningful that this study can contribute to future studies on the role of ownership structure.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.317-328
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• 2020

The board of directors play an important role in corporate climate strategy-making and decisions but might also compromise environmental policies to minimize agency cost. This study critically investigates the relationship between the attributes of the board of directors and the degree of sustainability performance for the energy sector as discussed in the literature. Our study cumulates existing knowledge offering important characteristics for a balanced board structure to increase the board's effectiveness in adopting sustainable initiatives that could reduce the adverse impact of an energy corporation's operation on the environment. Crucial attributes of the board of directors deemed to be positively associated with the commitment to reduce carbon footprint in the environment have been identified. Based on our extensive analysis of the literature we propose a conceptual framework that measures the influence of the board of directors' attributes on corporate environmental and social sustainability performance. The proposed framework will be useful as an initial step for top management and regulators to gain a better understanding of the balanced board structure required to achieve the social and environmental sustainability performance of corporations. Further, this paper contributes to a body of knowledge about how the board of directors could play a crucial role in monitoring social and environmental threats.

• Journal of Technology Innovation
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• v.19 no.3
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• pp.115-140
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• 2011

The fact that innovation activities of venture firms and start-ups play crucial role in driving industrial development and economic growth has significantly increased the importance of business incubator and techno-park which promote new businesses creations. This review paper aims at not only generating performance measurement index of business incubators but also categorizing performance determinants in accordance with three different theoretical perspectives of resource-based view, strategy patterns, and social networks. Futhermore, as future direction of research, this paper emphasizes structured research efforts on the critical effects of incubator's governance patterns, external and regional contexts, and analysis of government incubator policy.