• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.17-26
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• 2013

This research examines the effect of globalization of Korean economy on small and medium-sized entrepreneurial firms. When Korea underwent the Asian economic crisis in 1997, it reconstructed Korean venture industry and had helped fuel venture firms' rapid growth. Therefore, this study shows the changed structure of Korean economy and the change of venture ecosystem due to the Asian financial crisis. In spite of a favorable turn of the industrial structure toward venture firms, their globalization level is reported still being low. In this study, we also examine how the Korean economy's globalization affects to the venture environments, focusing on the degree of Korea venture's globalization and role of venture capital. This study indicates that the globalization of Korean economy has played a positive role in the growth of the venture firms. However, with the growth of venture firms, small and medium venture companies have received relatively little focuses in Korean economy because the government policy of economic development has been oriented to large companies for several decades.

• Journal of Korean Society of Forest Science
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• v.100 no.4
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• pp.722-732
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• 2011

Firms initiate philanthropic activities to improve social welfare that is beyond the scope of their responsibility towards society. Forestry activities, among other philanthropic areas, simultaneously improve corporate environment and social performance and provide the opportunity to cooperate for a large number of employees. Firms can effectively contribute to forest conservation with their financial and human resources. To encourage participation of more firms, we need to understand how and why firms engage in such activities. This study aims to explore different types of philanthropic forestry activities that these firms undertake. Corporate philanthropic activities can be categorized as donation, in-house project, or collaboration according to the governance type. We analyzed Yuhan-Kimberly's forestry campaign to investigate how and why the firm engaged in each type. We also propose some practical implications for firms, government, and non-profit organizations to invigorate firm's participation in philanthropic forestry activities.

• Asia-Pacific Journal of Business
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• v.12 no.2
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• pp.115-129
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• 2021

Purpose - This study aimed to clarify the effects of tax investigation probability on accounting transparency in KOSDAQ firms by using financial statement. In particular, it was analyzed whether the characteristics of a firm's listed market have a discriminatory effect on the relationship between the tax investigation selection rate (or detection rate) and earnings management. Design/methodology/approach - This paper examines analyzed the effect of tax investigation of the National Tax Service on the earnings management. The sample includes 9,603 firms listed on KOSPI and KOSDAQ from 2011 to 2018, all of which are manufacturing firms. This study conducted correlation and multiple regression analyses to verify the relationship between tax investigation probability and earnings management. The possibility of a tax investigation is the selection rate and the detection rate, and the profit adjustment was estimated at discretionary amount. Findings - As a result of empirical analysis, both firms listed on KOSPI and KOSDAQ markets showed that the higher the tax investigation rates, the more significant the possibility of reducing the earnings management of discretionary accruals. Additionally it was found that in KOSDAQ markets firms, the tax investigation detection rates had a signigicant nagative effect on discretionary accruals. Research implications or Originality - It can be interpreted that firms with a high rates of receiving a tax investigation decrease earnings management consideration of expenses such as additional tax amount due to the tax audit or a decline in corporate image.

• Journal of Digital Convergence
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• v.13 no.8
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• pp.145-151
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• 2015

In this study, we analyze using a structural equation model if an appropriate composite relations among the perspectives(Learning & Growth, Internal Business Process, Customer, Financial perspective) of the balanced scorecard are formed to achieve the ultimate goal in Chinese SMEs. In this study, we find that Learning & Growth perspective is related positively to Financial perspective directly and indirectly via Internal Business Process and also find that for success the careful management is required for Learning & Growth and Internal Business Process perspective. The results of this study will provide information about where the need to emphasis on management to improve the financial performance in Chinese SMEs.

• Journal of Digital Convergence
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• v.18 no.5
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• pp.145-155
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• 2020

The purpose of this study investigates the relationship between business strategy and cost behavior according to the corporate life cycle. To do so, I first examine the relationship between cost behavior and business strategy. And then, I analyze the effect of the business strategy on cost behavior conditional upon corporate life cycle based on listed Korean firms from 2000 to 2019. Specifically, the business strategy index is calculated by using the six continuous financial factors and the Prospector and Defender was defined on the score. Also, the corporate life cycle is distinguished based on the cash flow pattern. I find the evidence that the Prospector firms are likely to strengthen the asymmetry of cost behavior (cost stickiness), and examined that such a relationship was most strongly represented in the Introduction. This study is meaningful in that this is a more comprehensive analysis by examining business strategy and cost strategy according to the corporate life cycle and expand the application of financial information by using financial indicators to distinguish business strategies.

• Journal of Convergence Society for SMB
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• v.2 no.2
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• pp.21-26
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• 2012

This paper analyzes business performance that together influence firms to adopt IMS, which is the standard primarily concerned with an IMS. We predict that the firm's financial characteristics will also influence the IMS adoption in our analses. This study tests three hypotheses on management performance of adoption of IMS. The main findings are as follows. The first hypotheses is supported in terms of debt ratio, fixed assets to net worth and fixed liabilities, net sales groth rate respectively at the 1%, 5%, and 5% significance level. The second hypotheses is supportrf in terms of gross margin on sales and total assets turnover at the respective rates of 1% and 10% significance level. The third hypotheses is supported in terms of current ratio, debt ratiom fixed assets to net worth and fixed liabilities at the respective rates of 10% and 1% significance level.

• The Korean Journal of Financial Management
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• v.1 no.1
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• pp.119-131
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• 1985

Although Korea is short of capital technology, and natural resources, she has achieved an outstanding progress by the export-drive policies by Korean government and the creative endeavor of Korean firms. As a result of that, Korean economy and enterprises are in the same file of newly industrialized countries and Korea is ready for an economic take-off as a developed country. But in the early 1980s, each country strengthens protective trade theory and resources nationalism, and this has a great influence on the field of international trade environment. In spite of that, to continue the same high development as that of the past. Korea must try to secure and find export markets, solve trade barriers, make sure of the long-term security of resources, develop technology, and strengthen economic cooperations. To satisfy these desires by 2000s, we must try to make Korean enterprises have the global competitive power and them grow strongly among world wide firm through capital and technology accumulated during the passed years, and to do so, there must be a foreign production and marketing management, too, this can be achieved only through foreign overseas direct investment. This investment has various forms, to say, verifical integrated, horizontal integrated. conglomerate integrated forms, and the amount of investment in each country from 18 century to today reaches 500 billion dollars. This investment is done by strategic, behavioral economic, and financial motives. So I am going to approach the fields of like these; in spite of the differences among political, economical, caltural, and social systems, and many risk compared with domestic enterprises, why do Korean firms witsh to transfer the productive facilities to overseas countries and run them there? What is the comparative advantage of foreign direct investment compared with domestic investment ?. why is the factor of comparative advantage transferred through foreign direct investment?, what is the motive of foreign overseas direct investment?, and last the ownership-specific factors and the theory of internalization, and the location specific factors were analysed chiefly. But in consideration of the given condition in Korea, Korean overseas direct investment must be propelled rationally on the basis of the above mentioned theory.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.11a
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• pp.225-229
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• 2009

International construction market has been open to other countries, and it derives the development of our overseas construction industry quantitatively as well as qualitatively. Until now, the major companies have an absolute majority in the overseas construction market, and the small and medium enterprises have had difficulty to get a leadership in the international construction market because of the lack of the technical expertise and the capital strength. Especially in the Middle East Asia, our construction companies has touched off a boom, so our market share also has grown, which derived from the up toward ratchet oil prices and a worldwide boom in real estate development. The small and medium enterprise minority have recognition that the overseas construction market is the major company's native territory. But Data from the existing researches and many statistics indicate the most companies tend to underestimate the capacity and international competitiveness of the small and medium enterprises. As a matter of fact, hundreds of small and medium enterprise cut a conspicuous figure in overseas market. Consequently, it is indispensable to overcome the international financial crisis by revitalizing our overseas construction industry which obtains excellent results in international market. this study suggested the ways to expand overseas bonding capacity of Korean financial institution. This study proposed the Korean government to allow Construction Guarantee (former Korea Construction Financial Cooperative) to deal with foreign exchange so that Construction Guarantee will underwrite the overseas construction bond.

• KDI Journal of Economic Policy
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• v.30 no.2
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• pp.27-59
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• 2008

This paper empirically investigates the finance-growth linkage in Korea by utilizing firm-level data of manufacturing industries before and after the 1997 financial crisis. We find that, first, an increase in external finance is associated with a faster subsequent capital accumulation of firms. However, this capital accumulation channel became relatively attenuated after the crisis. Second, the total factor productivity growth effect of external finance has been considerably weak both before and after the crisis. Third, the information production and industry restructuring effects of external finance have also remained weak after the crisis. The limited role of external finance in post-crisis Korea partially reflects sluggish corporate investment and weakening dependence of good credit firms on external finance. The evidence suggests that, in order to effectively sustain economic growth, further reform efforts may be required to strengthen resource allocation and corporate restructuring roles of financial markets and institutions.

• Management & Information Systems Review
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• v.7
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• pp.93-111
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• 2001

In this article, we perform an international overview of accounting standards for tax effect accounting(or income taxes). Specially, we compare accounting standards for tax effect accounting of U.S. and International Accounting Standards. The principal component of U.S. accounting standards for tax effect accounting is as follow. Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes (SFAS No. 109) represents the culmination of a multi-year process in which Financial Accounting Standards Board (FASB) reviewed and subsequently modified the requirements for accounting for income taxes. SFAS No. 109 requires an 'asset and liability' approach for the accounting for income taxes. That is, deferred income taxes are viewed as assets and liabilities of the firm, and deferred tax expenses id determined by the current-year change in the firm's deferred tax liabilities and assets. Previously, Accounting Principles Board Opinion No. 11, Accounting for Income Taxes (APB No. 11) required a 'deferral' approach to accounting for income taxes. The primary intent of the deferral approach was to match tax expense with corresponding revenues and expenses for the year in which the revenues and expenses were recognized in the financial statement. Unlike the SFAS No. 109, APB No. 11 did not require firms to adjust deferred tax balances for subsequent events such as changes in tax rates or laws. And, the principal deference between SFAS No. 109 and the previous statement on accounting for income taxes, SFAS No. 96, is that SFAS No. 109 requires firms to recognize deferred tax assets for the tax benefits of tax credit or operating loss carryforwards, no matter how likely the firm was to realize these benefits, and this was one of the reasons for its demise.