• Journal of Technology Innovation
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• v.31 no.3
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• pp.201-230
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• 2023

The Innovation Procurement Policy was introduced as part of the strategic public procurement policy to improve firms' innovation capabilities and enhance the public sector's ability to solve social problems by designating and purchasing so-called 'innovative products.' The pilot procurement project for innovative products was first introduced in 2019, and the policy system for designating and discovering innovative products by government departments, as well as the priority purchase system, was established in 2020. Hence, this study conducted a quantitative analysis focusing on the effectiveness of the innovation procurement system in supporting firms after it was fully implemented. For this purpose, corporate financial and employment data from 2017 to 2021 were used, and propensity score matching(PSM) and difference-in-difference(DID) methods were utilized as analytical tools. The study found that the innovation procurement system contributed to corporate growth and employment and created additional public and private sales channels. Moreover, it is necessary to enhance the innovation procurement system, such as matching innovative product-producing companies with existing SME support policies, for companies to become self-sustaining after the innovative product designation ends.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.233-254
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• 2023

Purpose - This study aims to verify whether the effect of tax avoidance on corporate value is non-linear in the Korean financial markets. Design/methodology/approach - This study believes that the cause of the inconsistent empirical analysis results of previous studies that verified the relationship between tax avoidance and firm value may be an error in assuming linearity, and verifies whether a nonlinear relationship exists. The sample company in this study is a December settlement corporation listed on the Korean stock market, and the analysis period is from 2000 to 2021. In the empirical analysis model, Tobin's Q is used as a proxy for corporate value, tax avoidance is used as the main independent variable, and a regression model is designed with corporate size, growth rate, and debt ratio set as control variables. Findings - As a result of the empirical analysis, it can be confirmed that there is an inverted U-shaped nonlinear relationship between tax avoidance and corporate value. In the additional analysis using Ohlson (1995) firm valuation model for the robustness of the results of the empirical analysis, the same nonlinear value relationship between tax avoidance can be confirmed. Research implications or Originality - This study is considered to be meaningful in that it verifies the non-linear relationship of tax avoidance, which has not been attempted in previous studies. The meaning of the inverted U-shaped nonlinear relationship presented in this study is that corporate tax avoidance acts as a factor that increases corporate value up to a certain level, but rather becomes a factor that decreases corporate value when it exceeds a critical point. These results are expected to provide new perspectives and perspectives on tax avoidance to companies belonging to the Korean capital market.

• Journal of Korean Society for Quality Management
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• v.51 no.4
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• pp.481-496
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• 2023

Purpose: The main theme of this study is to derive a profit curve by a cubic cost function for nonlinear CVP analysis. According to the analytical approach to derive a nonlinear profit function in this study, it is possible with only the existing cost structure to calculate the profit maximization and downtime point sales unlike the classical CVP analysis. Furthermore, the profit curve by the mathematical model of this study could serve as a tool to quantify the qualitative evaluation of each stage of the industry life cycle. Methods: This study followed the mathematical approach from the cubic cost function model of microeconomics, and using real data of the Bank of Korea Results: The nonlinear profit function suggested by this study is as follows; ${\pi}(x)=-a\left(x-\frac{f}{1-v}\right)^3+(1-v)x-k$ where $a=\frac{1}{3}v\left(\frac{(1-v)}{f}\right)^2,k=f-a\left(1-\frac{f}{1-v \right)^3$ Conclusion: The process and results of this study would be able to contribute not only in practice of nonlinear CVP analysis required in the management accounting or financial management, but also in cost theory of microeconomics. Also, since the life cycle of all industries in Korea was verified to the growth or mature stage, decision makers should pay careful attention to determining life cycle stages and consider the profit curve by the average variable cost ratio over multi periods.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.47 no.3
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• pp.202-216
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• 2024

In today's rapidly changing business environment, rapid decision making and effective project management are essential for business growth. This study examines how project manager competencies and organizational structures affect business performance. Successful project execution depends on the strategic use of project managers' skills and organizational resources to maximize performance. An empirical study was conducted with 475 participants from the construction and engineering sectors. The applied analyses included multiple regression analysis and two-way ANOVA to assess how project manager competencies and organizational types affect business performance. The results of the study show that project manager competencies significantly improve business performance, especially when combined with appropriate organizational types. Effective use of organizational frameworks leads to better financial results, increased market competitiveness, and greater innovation. The results of the study are as follows: First, project manager competencies were found to have a significant positive effect on business performance. Second, the use of functional, project, and matrix organizations had a significant positive effect on business performance. This suggests that aligning organizational structures with business objectives is important for achieving optimal performance. Overall, this study provides valuable insights into the academic literature and practical applications of project management and organizational research. In addition, if we can select organizational members based on the learning effects of previous projects when operating new projects in the future, it will help reduce risks. Ultimately, it will improve the project manager's competency level, promote the individual abilities and knowledge sharing of team members, and provide opportunities for the company to build efficient new systems. This will be evaluated as a valuable study in terms of academic and practical productivity.

• Journal of Wellbeing Management and Applied Psychology
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• v.7 no.4
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• pp.65-73
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• 2024

In modern management, leadership has become an essential strategy rather than a choice, and interest in coaching leadership is increasing. Additionally, companies face inevitable tasks such as sustainable management and ESG management, which are crucial aspects of corporate social responsibility. This is a global phenomenon, and social value management activities play a significant role in evaluating the worth of modern companies. ESG management is assessed as a decisive indicator for investors' decision-making based on various global guidelines. ESG is an important issue not only for large corporations but also for small and medium-sized enterprises (SMEs). The government is actively expanding infrastructure and providing support to enable SMEs to lead ESG management among domestic companies. However, research on the ESG management of SMEs is still insufficient, and existing ESG studies have primarily focused on financial indicators. Therefore, the necessity for empirical studies involving various variables is emphasized. This study analyzed the impact of coaching leadership on organizational innovation behavior and performance in SMEs, mediated by ESG management. According to the analysis, coaching leadership positively influences organizational innovation behavior and performance by promoting ESG management in SMEs. The findings indicate that coaching leadership has a positive impact on organizational innovation behavior and performance, while persuasion and participation of internal members are essential for success. Moreover, this study provides practical and policy implications, offering specific strategies for SMEs to effectively implement ESG management and ensure sustainability, thereby supporting long-term growth.

• 산업혁신연구
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• v.34 no.3
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• pp.301-336
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• 2018

In retrospect, since Korean credit unions called for the establishment of a credit cooperative law, the government did not pay much attention to how members could raise their economic and social status by themselves. The main concern of the government was how to use credit unions to solve the socio-economic problems facing our economy. It is also true that the internal circumstances of the credit union have caused government interference. However, because the government has paid more attention to its policy use, government intervention has prevented the credit union from achieving the goals of the movement, giving more attention to the economic purpose than the social purpose. The government could not achieve its intended policy objectives as the cooperative movement failed to achieve results. It is the task of this article to examine these circumstances through the enactment and amendment of the Korean credit union act.

• Journal of Information Technology Services
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• v.23 no.5
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• pp.21-42
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• 2024

In recent years, local festivals have emerged as a promising strategy for regional regeneration, offering a cost-effective means of generating significant added value. Despite the significant growth in the number of local festivals, a number of challenges remain. These include strategic considerations, availability of expertise and financial independence. These issues raise concerns about the long-term viability of these festivals. Recent studies have explored various forms of convergence, including technological, business and cross-industry, with festivals identified as a representative example of such convergence. Local festivals that mobilise the local business service environment, specialised industries, specialities and products should be studied through the lens of an innovation ecosystem for service innovation. This study presents and verifies the key factors for successful festival organisation from an innovation ecosystem perspective. To achieve the research objective, a three-level success factor structure model of village arts festivals was developed based on the EPSS framework, with a focus on the Echigo-Tsumari Art Triennial in Japan. This model consists of 7 superordinate factors and 29 subordinate factors. The AHP analysis showed that the most important factors are strategy, service, institution, etc. The subsequent elements were ranked in descending order of importance, with the following factors considered to be of particular importance: excellence and representativeness of content, clarity of vision and goals, novelty and differentiation of theme, etc. The results of this analysis have implications for the development of strategies for the sustainable operation of village arts festivals and for the possibility of studying local festivals from an ecosystem perspective.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.103-117
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• 2019

Under the uncertainties and the consequent turmoils of the IMF financial crisis in Korea, Hyunsung Techno was founded in 1997 on the basis of automobile press molding which is critical for the quality of automobile. Ever since, Hyunsung Techno has grown rapidly based on the domestic market; however, gradually, it had faced a stalemate in terms of the saturation, on the supply side and the growth limit, on the demand side, of the domestic molding market. Accordingly, Hyunsung pushed for a strategy to localize overseas markets and a new acquisition strategy instead of resting on the domestic mold industry's growth, and the success of these strategies enabled it to leap forward into a global company with five companies including affiliates and 70 billion won in sales. The main reason why Hyunsung Techno evolved from a small and medium-sized manufacturing company into a global businesses is due to the success of Boa Constrictor M&A strategy. Its acquisition strategy is not just a successful case of any acquisition, but a rare, maybe the first domestic case of a successful acquisition of a primary supplier by a secondary supplier. Through the success of this strategy, Hyunsung Techno has achieved a continuous growth of businesses, an increase in sales volume, and expansion into new businesses. And on top of that, this achievements is leading it to be a global conglomerate In this study, Hyunsung Techno's success strategy, which is transformed from a small domestic manufacturing company into a global enterprise, was analyzed in detail with its development stages divided into start-up, overseas expansion, acquisitions, and business diversification. Eventually, this case study is meant to offer strategic implications for other small and medium-sized businesses under the current, gloomy economy of low or zero growth of today.

• Journal of Korea Technology Innovation Society
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• v.13 no.1
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• pp.68-98
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• 2010

This study was conducted to analyze the results of the implementation of next-generation growth engine program that was promoted across all government agencies for five years from 2004 as part of a range of initiatives aimed at expanding the nation's economic growth potential. The results were analyzed in this study using five indices: program purpose and design; strategic planning; program management; program results; and pan-governmental agency cooperation and coordination. The results of the study include the following. First, regarding program purpose and design, it was found that consistent leadership in the promotion of the programs was insufficient as the relevant program promotion systems and financial resources were dispersed among governmental agencies, even though the objectives and validity of the programs were recognized. Second, with regard to strategic planning, it was found that although the program objectives and technical development strategy had been established at the beginning of the program, they were biased toward the technical objectives and mainly implemented by the technology suppliers. Third, regarding program management, it was found that the responsibility for general administration, ranging from task planning to policy improvement, was given to the appointed program director but that the system of cooperation among the agencies was insufficient to carry out the relevant tasks. Fourth, regarding the results of the program, it was difficult to understand the results consistently as the economic objectives were not clearly presented, even though the technical objectives were achieved despite the short implementation period of the program. Fifth, with regard to pan-governmental agency cooperation and coordination, it was found that the coordination organization whose remit was to implement the program was established pursuant to the Basic Law on Science and Technology, but that no detailed regulations or guidelines on the operation of the organization were drawn up. To efficiently plan and execute future pan-governmental agency R&D programs that are similar to the next-generation new growth engine program, various requirements should be met, namely, 1) joint planning and consistent program design among governmental agencies, 2) clarification of the program objectives and budget allocation system, 3) establishment of a pan-governmental agency program operation and assessment system, 4) formulation of a strategy for linking R&D with standardization, and 5) enactment of pan-governmental agency joint operation rules.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.109-116
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• 2014

In this study, the factors affecting the profitability of the oriental medicine hospitals of University to be analyzed. To do this, profitability indicators and current ratio, liquidity, turnover ratio, cost factors analysis and suggested ways to improve management. The results are as follows, the operating margin(1.17%). the return on assets(3.76%), the net profit to gross revenues(2.37%), and the net profit to total assets(-1.89) were lower than the average of the entire oriental medicine hospitals in Korea(respectively 8.9%, 8.7%, 2.6%, 2.5%). Current ratio(256.76%), quick ratio(231.17%), fixed ratio(121.02%), and total assets turnover(135.69%) were similar to the average of all oriental medicine hospitals in Korea. But growth rate of total assets(-2.21%), and growth rate of patient revenue(1.89%) is low. And salaries(53.39%), materials costs(16.62%), administrative expenses(28.58%) were different to the average of all oriental medicine hospitals in Korea(respectively 35.3%, 10.7%, 45.1%). Meanwhile, the cost ratio of the oriental medicine hospitals of University was 98.59%. It was 7.49% higher than the 91.1% of the average of all oriental medicine hospitals in 2011. Correlation analysis, growth rate of patient revenue and operating margin increased at the same time, and net profit to gross revenues and net profit to total assets with a growth rate of total assets increased. And administrative expenses and profitability indicators showed a negative correlation. It means, in order to improve the profitability of the oriental medicine hospitals of University should focus on reducing administrative expenses. Multiple regression analysis, growth rate of total assets, total assets turnover, administrative expenses, and salaries has affected the profitability. Therefore, in order to improve the profitability of the oriental medicine hospitals of University to increase the total capital and the total capital turnover, and to reduce administrative expenses effort.