• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.2
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• pp.565-577
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• 2020

This study empirically examined how a firm size affects the determinants of innovative activities using the data of the Korean Innovation Survey (KIS) 2016. With data from 2,003 firms in the manufacturing sector, we performed logistic regression analysis and zero-inflated negative binomial regression analysis. R&D expenditure and patent applications were used as proxies for innovative activity. The independent variables included the firm's characteristics variables such as the firm's age, tech-level industry, RDemp (R&D employee ratio), venture, export, and industrial characteristics variables such as networking, appropriability, and spillovers. The empirical findings are that there are some differences in firms' innovative activity determinants among the firms' size groups. Next, strategic appropriability has negative impacts on small firms' R&D expenditure and medium-firms' patents. Networking is an important determinant of innovative activity for all firms, except for large firms. Furthermore, in deciding R&D activities, small and medium-sized firms were significantly influenced by industrial characteristics as compared to that of large firms. Our findings suggest some R&D promotion policies. Policies fostering firms' technological interaction would allow firms to take advantage of technological spillovers and thus raise the probability of investing in R&D.

• Journal of Technology Innovation
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• v.18 no.2
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• pp.175-219
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• 2010

Since diversification can be a necessary means for company's survival and the conservation of its success, hundreds of studies have been done by three schools of industrial economics, strategic management, and Neo-Schumpeterian economics for over 30 years. However, any school has not presented a model comprehensively explaining diversification' success or failure. The study tried to suggest a theoretical framework integrating findings came from three schools. The framework considers both firm's technological capabilities and sector-specific characteristics as well as reflects a Neo-Schumpeterian view emphasizing technological aspects. The goal of the study is finding major reasons of success and failure during company's diversification through studying three diversification cases of Samsung. Our findings show that the diversification toward TFT-LCD was easier and more successful than the diversification toward microprocessor because DRAM is more similar to TFT-LCD than microprocessor. Samsung also tended to build only the types of capabilities which were originated from capabilities accumulated in DRAM business. Our findings give firm's strategists a lesson that they can increase the probability of success in diversification, if only they should simultaneously consider a new sector's characteristics, a firm's technological capabilities accumulated in old sectors, and the availability of old capabilities for being applied to a new sector.

• Journal of the Korean Geographical Society
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• v.28 no.1
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• pp.16-39
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• 1993

This study aims to analyze the locational factors which the small firm enterpreneurs in Pusan City mainly consider in deciding location choices for their plants, and then to grasp the differences of the factors in terms of nature of firms, managerial personal characteristics and zoning areas. In order to implement the purpose of the rescarch, data are collected from selected small firm enterpreneurs throughthe questionaire. The main results are summerized as follows. First, it is pointed out that small firm indu-strialists for the regional choice consider crucial rationale as non-economic factor of personal reson with additional consideration of transpor-tation, infrastructure, service, market and labor forces. But in selection of site, they are apt to have high regard on the such factors as infra-structure, service, land and transportation factor. These factors to select the site demonstrate differentiation in terms of character of enter-prises, managerial characteristics and zoning areas. For example, land in the light of indu-strial sector is regarded as an important factor with longer the time of the establishment of firms or more aged or experienced enterpreneurs, wheras infrastructure and service in the heavy and chemical industrial sector are taken up as an important one with shorter the time of establishment of firms or less aged or experienced or higher educational background of enterpren-eurs. In addition, the non-economic factors such as the residential livebility and personal reason are picked up as important factors with smaller the firm or more aged or experienced, lesser educational background of entrepreneurs. Taking into consideration zoning area, infra-structure and service in the industrial area such as the exclusive and semi-industrial areas, land in green belt area, and transportation in the commercial and residential areas are singled out as the most important factors respectively. In addition, the non-economic factors of the resi-dential livability and personal reason in the non-industrial areas are also highly regarded. Second, land is picked up as the most impor-tant one of pulling factors toward the present site while other factors such as infrastructure, service, personal reason are also regarded as the secondary reason for the move-in decision; the pulling factors for the present plant location show somewhat differences in terms of the charcter of the enterprises, managerial chara-cteristics and zoning areas. Policy measures including land, infrastructure under the environmental aspects, service and transportations are, in turn, pointed out as the important ones for pushing factors. Meanwhile, as the important staying factor in the present place, transportation, infrastructure and service under the aspect of the agglomeration benefit, market, personal reason are considered. The pushing and staying factors also shows somewhat distinctive differences in terms of the character of enterprises, managerial chracteristics and zoning area. In the case of zoning area, land is regarded as the most important factor to move out, especially in the non-industrial areas inclu-ding the commerical and residential areas policy measures, infrastructure and service are indicated as important factors to move out. In the mean-time, as the important staying factor, industria-lists in the exclusive and semi-industrial areas point out transportation, infrastructure and service. Whereas the counterparts in the com-mercial area regard transportation and market as important factor, those in the residential area consider the non-economic factors such as personal reason and residential livability. Taking into consideration the result of this analysis, it is identified that the locational chara-cteristics of the intraurban small firm industries are not only associated with the character of enterprises, but also with manager's personal character and the trait of zoning area. Therefore, it seems that the thorough review or examination of enterprises, industrialists' characteristics and zoning areas will have meanin-gful significance in attemption explanation of small firm industries at the intrauban scale in the future. Especially, it appears that the eco-nomic factors such as land, infrastructure, service, transportation, and the non-economic factors such as residential livability and personal reason play together important parts to determine the locational choice of small firm industries along with non-industrial benefit. Thus, such status reveals the obvious implication for the intraurban industrial policy in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.1
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• pp.109-132
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• 2011

While the resource-based view suggests that a firm's competitive advantage rests on a set of valuable, rare and inimitable resources more generally (Barney, 1991), research in new firms has more specially indicated a link between initial resources and early performance and survival (Bruderl and Schussler, 1990; Fichman and Levinthal, 1991; Carroll et al., 1996). The RBV primarily focuses on the particular resources, and their characteristics, that provide the potential for advantage (Conner, 1991). Yet in order to realize this advantage, organizations must not only develop their resources, but also effectively deploy them (Admit and Shoemaker, 1993). This suggests that advantage from resources may reside in both the input (resource development) side and the output (resource deployment) side. This research looks at venture survival as a function of both the resources a firm owns, and the resources it can access from others. We focus more specifically on technology resources, which are among a technology-based firm's most critical resources (Itami, 1987). In addition, technological knowledge can contribute a large portion of the value of a firm's products (Goodman and Lawless, 1994). We look at both the input and output side: the pool of technology resources that serve as an input to a firm's activities, and the market that values and purchases the output of this activity. We take an international perspective, examining whether resources explain internationalization on the input and output side, and in turn, whether this internationalization can explain survival. We explore three sets of questions. First, can survival in entrepreneurial firms be explained as a function of the resources a firm owns, and beyond that, to those the firm can access, and still further, to those the firm can access internationally? Second, do resources explain internationalization on both the input and output side? And finally, does internationalization explain survival? Implications for theory include extending the RBV to not only include a firm's resources, but its access to the resources of other entities. In addition, examining internationalization on both the input and output side enables us to understand not just the potential advantage of resources, but the manner in which they are deployed as a source of advantage. This research also contributes to the literature on international entrepreneurship by examining whether internationalization can explain survival for early stage firms. For practitioners, this research will provide insights on the importance of building alliances and, in so doing, broadening an organization's perspective about the technology resources available to the firm on the input side. The study will also inform practitioners about the value of maximizing the market for a firm's valuable resources. In addition, this research provides an extraordinary opportunity to access a large, comprehensive, and longitudinal dataset on technology-based ventures in Korea.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.2
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• pp.292-303
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• 2012

The main purpose of this study is to analyze R&D networks and spatial implications in Qingdao consumer electronics industry agglomeration in China. The characteristics of R&D networks in Qindao consumer electronic industry are as follows. There is a cluster central around large enterprises led by the government and their subcontracting enterprises. However, the degree of collaborative networks in intra-firm, inter-firm, firm-research institutes(including university lab.) is relatively low. Therefore, Large enterprises in Qingdao has stimulated research collaborations with firms and research institutes located in other regions rather than within region. It is likely to show that R&D networks of consumer electronics industry has not been stimulated in Qingdao. Therefore, collaborative R&D networks among firms, research institutes and governments should be stimulated to build regional innovation systems central around consumer electronics industry in Qingdao.

• International Area Studies Review
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• v.12 no.3
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• pp.243-267
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• 2008

This research develops a theoretical model of the influence of firm's internal and external characteristics on foreign knowledge learning and international performance. To verify research hypotheses, 222 cases were collected as samples and the data was tested by structural equation modeling analysis. The result of the analysis shows that the CEO's foreign experience, entrepreneurship, technological innovation and use of foreign network have positive influence on the international performance. Besides CEO's foreign experience and use of foreign network affects the foreign knowledge learning, which shows the useful relationship of international performance and accordingly it is proved that the foreign knowledge learning has mediating effect between the firm's internal and external characteristics and international performance.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.107-117
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• 2016

This study examines information efficiency of financial information on the firm value for the listed manufacturing companies in Korea stock market in terms of timing pattern of information. We set 3 different test periods based on the financial statement released years - the current year, 90 days before financial statement announcement and the next year. We introduce using the stepwise regression method to examine the effect of financial variables on the stock returns. The financial variables include profitability ratio, growth ratio, stability ratio, activity ratio and market valuation ratio. The results of the study showed that both growth and profitability ratio affected the current year stock returns, while stability and activity ratio affected the next year stock returns. Growth rate of total asset affects both current year and next year stock returns. Our findings imply that the period in which financial information is reflected in the firm value, could vary with the characteristics of financial information.

• Journal of the Korean Regional Science Association
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• v.31 no.3
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• pp.55-77
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• 2015

The purpose of this research is to analyze the influence of the regional location factors to the lifecycle of manufacturing firms in the Seoul Metropolitan Area. A firm has a lifecycle in common like a household. The firm's lifecycle is divided into 4 sections such as formation, dissolution, growth and decline for the manufacturing firms as light industry, heavy industry and high-tech industry. In addition, the regional location factors are divided into 4 categories. As a result of this research, there are differences for the statistically significant location factors. In addition, the value for the explanation ability of each multiple linear regression model (adj. $R^2$) was high in the formation and growth sections than in dissolution and decline sections. It means that the local governments need differentiated policies considering their regional characteristics for the location factors by firm's lifecycle when they established policies for industry or job. From the view point of the public sectors, it is much important to focus on formation and growth of firms.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.3
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• pp.404-423
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• 2012

This study is aimed at exploring the impact of the characteristics of the firms on firm's networking. We develop a framework theorizing firm's networking according to sales, size, research facility, the percentage of R&D staff to total employees, the percentage of R&D investment to total sales, the number of the certification, the intention of attending seminars, the experience of participating in the government subsidy program. The results of the analysis show that research capacity, openness to a variety of information source, the experience of participating in the government subsidy program are significant in determining the firm's networking. The government needs to encourage the firms to improve their research capacity, and to train the coordinators to help the firms get higher openness to a variety of information source, use the government subsidy program.

• Information Systems Review
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• v.9 no.1
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• pp.311-341
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• 2007

This paper presents a case study on BSC(Balanced Scorecard) system development of Korea Post as a Korean public firm. BSC models of public or private sector are generally developed in different types due to their different strategic goals. Korea Post as a government firm has dual characteristics of BSC similar to both public and private sector. This firm has the organizational type of public firms, not private firms. To date many government subsidiary organizations have already introduced BSC or are trying to introduce BSC, but have difficulty in developing BSC successfully because of insufficient understanding of BSC. Based on a case study of Korea Post, this study analyzed key success and failure factors and suggested prospects on BSC system development of public firms.