• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.3
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• pp.33-60
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• 2007

This study alms to analyze the entrepreneur characteristics of founder on enterprise performance from the strategic viewpoint as well as features of founder of small firms such as background feature of founder, psychological features and management skill. As considered by Background features of founder include educational background of founder, his experience in business creation, consultation or course related to business creation. This study verified the effects of factor which business performance (financial, non financial) on small firms. Also, this study considered psychological features of founder include achievement desire, risk-free propensity, level of patience on vagueness and control position. And it analyzed that between such factors and performance of small firms were examined in related. In the mean time, management ability of founder, entrepreneur ability, technical and function ability were considered for management skill of founder and alalyzed effect of the factors on performance of small firm were examined. Effects of strategic intention of founder of small firm were analyzed by the strategic viewpoint. At this time, strategy of small firm was divided into product-service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy. This study distributed questionnaire on CEO of small firms in Daejeon and Chungnam area for accomplish the study objective and it collected a total of 145 copies of questionnaires. As a result of analyzing collected questionnaire, this study deduced the following study results and suggestions. First, results different from those of existing studies were found Since sales, net income and profit rate of small firm were not high cause economic depression on the whole. Second, entrepreneur ability was found to be required for success of business creation. Entrepreneur ability of founder was the factor that affects both financial and non - financial performance of small firm. As such, entrepreneur ability can be regarded as the most important factor for success in business creation of small firm. Accordingly, entrepreneur ability is the most important source for success in business creation of small firm. Third, strategy of small firm was found to be the important factor that affects the non-financial performance even if it could not give significant effects on financial performance. Thus, product service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy have significant effects on non - financial performance of small firm. Accordingly, it is required to operate small firm with strategic mind - set for small firm to achieve success. This study analyzed the effects of feature of founder and strategy of small firm on business performance of small firm through practical analysis on small firms in Daejeon and Chungnam area, and deduced meaningful results. However, Since this study collected data on small firms in Daejeon and Chungnam only, there is a limit in generalizing the results of this study to all small firms in Korea. Companies answering to this questionnaire process were mainly wholesale and retail service companies. In addition, there is a limit in that it failed to analyze feature of representative type of industry due to limit in number of sample, it is required to divide representative type of industry and to compare and analyze types of industry in future studies.

• Management & Information Systems Review
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• v.37 no.4
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• pp.125-140
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• 2018

Technology cooperation is a necessary factor for small and medium sized firms to be survived and developed because small and medium sized firms can make economy scale and economy scope by new advanced technologies obtained from technology cooperation. Therefore, the technology cooperation of small and medium sized firms can be thought as their specific resource. Due to the importance of technology cooperation, many previous studies paid an attention on its positive effect. Unlike the related studies, this study examined the link among uncertainty of technology environment, relationship characteristics(such as degree of technology cooperation and influential strategy), and relationship tie. The empirical results are reported as follows: Firstly, uncertainty of technology environment positively affected on degree of technology cooperation. Secondly, degree of technology cooperation positively affected on uncoercive influential strategies of both own firm and partner firm. Thirdly, degree of technology cooperation and uncoercive influential strategy of own firm have positive effects on relationship tie while uncoercive influential strategy of partner firm does not. The positive effect of uncoercive influential strategy of own firm means the importance of strategic countermeasures to promote relationship tie in technology cooperation of both own firm and partner firm.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.7
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• pp.63-76
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• 2016

Most previous studies found a positive relationship between the value of a firm and its R&D investments. This research measures the impact of the timescale of the R&D investment of a firm on its value using panel vector autoregression. By measuring the time required for R&D to impact the value of a firm, this study demonstrates that the lead time is an essential factor in the analysis of the effect of R&D investment on a firm's value. Our study finds that the length of the lead time varies according to the firm's size, industry concentration, and book to market ratio. Firms with a higher industry concentration show a shorter lead time. Also, firms with a larger size and higher book to market ratio generally show a shorter lead time.

• International Commerce and Information Review
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• v.9 no.4
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• pp.395-413
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• 2007

The main purpose of this study is to analyze the relationships between the R&D characteristics and R&D performance for Korean enterprises. We divided R&D performance into technological and business launching performance and analyzed four R&D characteristics' effect on the performance. The empirical analysis results can be summarized as follows: First, R&D characteristics of enterprises show a strong relationship with R&D performance in the case of R&D process control. Second, firm capability and information routine positively affect to technological performance at 0.1 significant level but not showing significance in the case of business launching performance. Third, managerial support negatively affects to technological performance but dose not show statistical significance. Its effect on business launching performance, however, shows positive and significant effect. This result is expected to be highly suggestive for establishing the effective R&D strategies of enterprises and also the relevant overseas marketing plan to support R&D planning.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.122-158
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• 1998

This study empirically examined different patterns of collaborative R&D project with their key success factors(KSFs), using data from 82 projects in the Korean electronic parts industry. The patterns of R&D collaboration were categorized into 4 types by two criteria development motive(technology Push/market pull) and Project initiator (focal firm/partner). The bivariate relationships revealed that project characteristics (technological complexity, market uncertainty), management characteristics (participation in project formulation), problem solving characteristics(problem solving performance of the focal firm, users active role in problem solving, active role of university or research institute in problem solving) and success rates appear to be different among four types of collaboration. Each type of collaborative R&D projects also had different KSFs. The KSFs of type 1 (technology Push and focal firm initiation), for instance, include the strategic importance of the project, focal firms share of cost, active role of university or research institute in problem solving, while those of type 4(market pull and customer initiation) cover reliability of partner relationship, a time at partners involvement, information sharing. The findings suggest that the different contingencies brought different patterns and KSFs of collaborative R&D project, since different information, resources, and partners roles were needed to successfully implement the projects according to development motive and project initiator Finally, managerial, policy, and theoretical implications for the collaborative R&D activities in the Korean electronics parts industry were discussed, based on empirical results of this study.

• Journal of Korean Society of Rural Planning
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• v.13 no.1 s.34
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• pp.51-62
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• 2007

This study examines empirically the characteristics of agricultural corporations in terms of their market and technology environment and the efficiency of the governmental support to the firms. Also the study analyzes the moderating effect of the environmental characteristics on the relationship between governmental supports and firm performance based on the concept of balanced performance. Test results show that firm tend to evaluate favorably their technology and market competitiveness of product quality and price and to require tools for reaction to changes of customer needs and technology or competing products and external corporation that is necessary for long-term technological competitiveness. As for governmental support, strategic support and service is much more appreciated than direct individual supporting item. Agricultural corporations with unfavorable market environment evaluate relatively high on their balanced performance. Correlations of balanced performance factors and technology environmental factors show all positive statistical significance. The moderating effect of the environmental characteristics on the relationship between governmental support and balanced performance can be interpreted that the support is provided without considering environmental aspect and based only on financial performance and as a result not to be satisfied by agricultural corporations with technological competitiveness.

• Management & Information Systems Review
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• v.7
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• pp.265-292
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• 2001

This paper examines what determines the use of contingent workers in Korean Department Stores. Drawing on internal labor market, transaction cost & agency, and bureaucracy theories, I hypothesize that four factors affect the use of contingent workers: job characteristics, HRM, occupation, and organizational characteristics. Data from a sample of employers surveyed by the author in 1997 were used to test the hypotheses, and analyses showed the following results. First, consistent with job-based perspective, we find that such job characteristics as firm-specific skill and the level of skill significantly affect the use of contingent workers. But job standardization and outcome measurability have no effects of its use. Second, also we find significant effects on the use of contingent workers of such HRM as scrutiny on employee selection and promotion system. The promotion system has expected effect on its use, but scrutiny on employee selection has opposite effect. Third, we find that occupation significantly affects the use of contingent workers, especially the extent of use of contingent workers of sales service is as five hundred times as that of managerial occupation. Fourth, also consistent with organizational-based perspective, we find that the firm's size significantly has positive effects, and affiliate company and labor union have negative effects. That is, the larger firm's size is, the more possibility of use of contingent workers exists, and the possibilities of its use reduce in case of affiliate company and in front of labor union. Finally, we discuss the implications and limits of theses findings.

• International Journal of Costume and Fashion
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• v.5 no.1
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• pp.75-89
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• 2005

The purpose of this study is to empirically ascertain how the fitness between marketing strategy each firm chooses and environment facing each firm affects the performance of firms measured by the growth rate of market share and the growth rate of profit/sales ratio. In doing so, firms are divided into three groups. With regard to the marketing strategy, firms are classified into three groups based on marketing strategy type; prospector, analyzer, and defender. The main result of this study are as follows: First, responding firms are classified into prospector, analyzer, and defender following Miles & Snow's marketing strategy types. This classification is made using a self typing method and further confirmed by a factor analysis using a number of variables relating marketing objectives and marketing mix. Second, the results show that there are significant differences across marketing strategies in the performance measures of the growth rate of market share and profit/sales ratio. It seems, however, that there is no straight forward relationship between the marketing strategy and the performance measures. This strongly implies that the type of marketing strategy to be adopted by each firm should depend on the environment facing each firm. Third, the result indicates that the growth rate of market share tends to depend only on the marketing strategy type regardless of sufficiency and variation of environment, but profit/sales ratio tends to depend on the fitness between marketing strategy type and environment. It implies that a firm should adopt different marketing strategies for different environment characteristics, in order to enhance the efficiency of resources used reflected in the profit/sales ratio.

• Knowledge Management Research
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• v.17 no.3
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• pp.161-179
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• 2016

The recent patent wars in the information technology (IT) industry demonstrate the strategic importance of IT patents in the industry. In this paper, we adopt the lens of real options to study the value of IT patents for IT firms. Specifically, we examine the relationship between IT patents and firms' market performance. We also consider the moderating effect of the innovation orientation of firms' patent portfolios (exploitative vs. explorative). Based on a large panel dataset consisting of 697 firms in US IT industries, our results suggest that the impact of IT patents on firm value (as measured by Tobin's q) is positive and significant. Further, we find that this impact varies, depending on the innovation orientation of firms' patent portfolios. IT patent portfolios with higher levels of an exploitative orientation are associated with higher firm value, compared to those with a lower exploitative orientation. This study highlights the value of employing real options theory as the underlying mechanism in understanding the impact of patents on firm valuation. Future researchers can adopt the real options lens to identify and empirically examine the role of other factors that may affect the value of patents and other investments exhibiting real option characteristics. While our paper answers some questions about the value of patents in the IT industry, it also raises a number of additional new questions. As such, we hope that it will generate more research on this important topic.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.99-121
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• 2010

The goal of this paper is to analyze the effects of various firm characteristics on the probability for a firm to receive government’s financial supports for R&D. In the empirical analysis, a Probit model is estimated for the 2008 Korea Innovation Survey data. The main contribution of the paper is to investigate the distribution of R&D supports at the national level, instead of the program level. Especially, it is the first academic effort to evaluate the effects of regional and industrial variables. The results show that: (1) firm size and export increase the probability of receiving government’s R&D support; (2) variables measuring firms’ innovative ability, such as official designation as innovative firm, running R&D institute, number of R&D personnel, also have significantly positive effects; (3) firms in the chemical and automobile industries are more likely to receive R&D supports; and (4) firms in Teakyoung and Bukyoung regions are more likely to receive R&D supports.