• 사회경제평론
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• no.38
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• pp.85-128
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• 2012

This paper aims to provide an evolutionary theory of firm existence and boundaries. We explicitly discuss about the cause of firm existence from the viewpoint of evolutionary economics, combine functionalistic and process-oriented explanation of firm evolution, and propose industry-level theory of firm boundaries. Vertical and horizontal firm boundaries are explained in the same frame.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.87-99
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• 2021

Purpose - In this study, I attempt to clarify three theories of firm boundaries (vertical integration): the principal-agent theory, transaction cost theory, and property rights theory. Although these theories have been widely cited and much discussed, it has been found that understanding the commonalities and distinctions of these seemingly familiar theories is difficult. Design/methodology/approach - I present the three theories about the decisions that firms make concerning their boundaries. Then, I compare elemental versions of the theories of the firm. Findings - Comparing the ingredients of the elemental property rights and principal-agent theories shows that they provide a unified account of the costs and benefits of vertical integration. However, the property rights theory in no sense formalizes the transaction cost theory. Research implications or Originality - Clarifying the three theories of the firm can help to construct empirical models and interpret its results.

• Journal of the Economic Geographical Society of Korea
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• v.23 no.1
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• pp.1-17
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• 2020

The study aims to identify economic interdependencies between regions and define functional economic areas of Korea by analyzing inter-firm transaction networks. Previous research has relied on pre-given administrative boundaries or cultural homogeneity and used data such as commuting, population movement, and cargo flows which could not fully explain economic activities. To overcome the limitations, this study applies a community detection method to inter-firm transaction networks derived from the CRETOP+ database of Korean corporate data. The novel dataset and the network analysis enables us to identify Korea's functional economic areas based on actual inter-firm linkages. The result shows that there are six to seven economic blocs in the networks as of 2018. In particular, one huge economic bloc is formed integrating the Seoul metropolitan area, Chungcheong, and Gangwon provinces. Meanwhile, North Jeolla and South Jeolla provinces form two economic blocs separately rather than being tied up in one bloc due to the low frequency of transactions between each other. The two big economic blocs of Daegu-Gyeongbuk and Busan-Gyeongnam exist, and interestingly, Ulsan, Gyeongju, and Pohang form a separate middle-sized bloc across the administrative boundaries. The results reveal that the future balanced national development policies should be implemented based on functional economic areas derived from empirical data.

• Journal of the Korean association of regional geographers
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• v.8 no.3
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• pp.396-411
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• 2002

This paper aims to explore organisational change and learning involving spatial processes and outcomes. In particular, it focuses on the context specific nature of corporate learning and organisational change that can be found in the case of a large Korean firm facing radical economic change. Drawing on the case study of a large Korean firm, the Samsung Electronics Company, three main claims can be followed. First, territorial sources of learning influence the way in which the firm makes use of space/place. Second, corporate learning practices, however, are not based merely on specific localised sources or geographical proximity but on bringing together the local and the global sources by harnessing the properties of relational proximities. It reveals that firms are concerned less on specialising specific local knowledge than promoting organisational knowledge and competences by integrating a variety of knowledge distributed in and out of the boundaries of the firm. Finally, to learn and innovate in a continual basis, firms would attempt to combine codified knowledge with tacit knowledge.

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.4
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• pp.69-80
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• 2021

Purpose - This study investigated the development process of the Chinese distribution industry and analyzed the current status of China's offline and online distribution industries under the development process of the Chinese distribution industry. In addition, the current status of offline distributors in China and representative companies were analyzed as case studies. Research design, data, and methodology - This study analyzed the overall environment of the Chinese distribution industry by using literature data. Then, this study conducted a case analysis using RT Mart and Jingdong, major companies in the distribution industry. Result -The main research results of this study show that the Chinese distribution market has already matured, and retailers are fiercely competing to secure sales and operating profits through various methods such as finding new management methods, improving awareness and customer loyalty by expanding the number of stores. Conclusion -Recently, the characteristic of China's distribution industry is that the boundaries of distribution are breaking down. Chinese retailers are taking strategies to expand the scope of services by erasing the boundaries of distribution. In other words, distribution companies are promoting a borderless distribution strategy in which consumers purchase products online and offline without restrictions on time and space. In addition, small stores in residential areas are on the rise compared to large-scale stores in the city center. The existing distribution industry operates various types of distribution stores to prepare for the post-COVID-19 crisis.

• Journal of English Language & Literature
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• v.64 no.1
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• pp.77-94
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• 2018

This paper examines William and Ellen Craft's Running a Thousand Miles for Freedom (1860)-a narrative of the enslaved couple's escape from Macon to Philadelphia in the guise of a white male master and a colored slave. Expanding Judith Adler's notion of "travel as performed art," my reading of Running focuses on the Crafts' stratagems of transvestism-crossing boundaries not only of gender, but also of race, class, and disability. If travel can be understood as a form of performed art, then why not address a traveler as a performance artist? I present William and Ellen's role-playing in Running as performers of crossing borders and categories, or, as "fugitive performers," since the couple's story never reaches its final arrival but narrates an eternal run-away, far more than "a thousand miles to freedom." Using social stereotypes of race and gender to disguise, William and Ellen plot, write, choreograph, play, and recite on the moving stages and manipulate the others-especially white American audiences-who accompany the couple's run-away and those who were responsible for the cultural drama-a tragedy of American slavery. Becoming "fugitive performers," William and Ellen de-essentialize and debunk the nineteenth-century America's firm belief in distinct color line between black and white, and in the high yet unstable bars between male / female, abled / disabled, master / slave, and freedom / slavery. The Crafts alert their contemporaries and readers by presenting the complex and permeable boundaries of race, gender, class, social and cultural ability.

• Information Systems Review
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• v.19 no.2
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• pp.21-35
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• 2017

The advancement of IT and the "Fourth Industrial Revolution" blurred the boundary between industries. The importance of strategic cooperation between enterprises is emphasized. IT companies must consider their existing business areas and create new territories to drive changes in the industry. They must also secure their competitive edge and manage economic costs to enable them to compete with their global counterparts. By utilizing their resources effectively, these firms can create value through inter-firm cooperation. This study analyzes the collaborative network of global IT companies using social network analysis and examines the effect of this network on firm performance. Collaborative linkages and betweenness centrality, which represent the bridging position of a firm in a network, significantly affect firm performance. This result highlights the importance of the structural position of a firm in a cooperative network of IT companies. This study also characterizes clusters in a network of IT companies. Most of these clusters comprise a combination of IT companies in diverse IT industries. These clusters suggest that these companies engage in multilateral cooperation without boundaries to maximize their business capabilities. This study offers practical implications for establishing a cooperative strategy and framework that can capture business trends in the IT industry from a macroscopic view. This study also visualizes collaborative networks in a multifaceted way using social network analysis to provide researchers and business practitioners with an informative viewpoint.

• Journal of the Korean association of regional geographers
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• v.6 no.3
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• pp.169-184
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• 2000

Industrial clusters and their boundaries are identified by factor and hot spot analyses for the greater Cincinnati metropolitan area in USA. While traditional input-output approach identified aspatial industrial clusters, this study combines traditional approach with GIS techniques to identify their boundaries. Combining the results of input-output industrial clusters with the leading industries groups, we have identified five leading industry clusters. They are food (20), chemicals (28), metal manufacturing (32), metal products (33), and machinery (35). We also used hot spot analysis to visualize each industry cluster on the research area by using Arcview software. Determining the degree to which such industries are associated spatially and their spatial delimitation may be an additional approach to measuring the efficiency of the spatial organization of an economy. It is hoped that the industrial clusters and industrial spatial clusters approaches may also proved the basis for the development of new models of the spatial arrangement of industry at a level more aggregated than that of the single plant or firm.

• 한국벤처창업학회:학술대회논문집
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• 2023.11a
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• pp.69-71
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• 2023

The Modigliani-Miller Proposition II (MM2) is a cornerstone in the field of corporate finance, positing that in a frictionless environment with perfect capital markets, the cost of equity capital is linearly related to a firm's leverage. This paper critically re-evaluates this proposition, particularly examining the determination of the cost and value of equity. We find that under specific circum-stances, especially when the value of a tax shield is influenced by endogenous variables, the cost and value of equity may be ambiguous. This calls into question the universal applicability of MM2. Our research offers new perspectives on the theoretical underpinnings of financial management and underscores the significance of situational factors in the practical application of these theories.

• Asia pacific journal of information systems
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• v.32 no.1
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• pp.151-167
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• 2022

This paper is motivated by social influence theory implying the multilevel nature of knowledge management (KM) in an organization. Organizational knowledge is generated and distributed by individuals from different groups across organizational boundaries. Its transfers are supported by IS/IT practice, i.e., the individual and collective use of the technology available in the organization. I propose a multilevel perspective to explain how IS/IT practice supports multilevel KM capabilities to manage organizational knowledge successfully and how the effectiveness of multilevel KM capabilities expands into the improvement of multilevel task-related organizational performance. The multilevel KM theory extends the knowledge-based view of the firm by describing the dynamic process through which strategic values of knowledge are generated by IS/IT practice across the organizational levels. This paper also discusses multilevel insights on the strategic value of organizational learning based on the social context of organizations.