• Economic Analysis
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• v.26 no.4
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• pp.98-136
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• 2020

We empirically investigate the determinants of a firm's exit from exporting, using Korean manufacturing firm-level data for the period from 2006 to 2014. Specifically, we estimate the effects of not only firm-level and industry-level characteristics, but also macroeconomic variables on the probability that a firm stops exporting by applying a Complementary Log-Log Model analysis. The results of our estimation suggest that firm-level heterogeneity, such as workforce size, capital intensity, intangible assets and foreign ownership, industry-level variation, such as the labor displacement rate, and macroeconomic variables, such as domestic demand and world demand, significantly affect the possibility of a firm ceasing exports. Also, we show that market interest rates increase the possibility of an export cessation and that the effects of market interest rates are more pronounced on firms with a higher debt ratio. In the primary exporting industries, the probability of a firm ceasing exports decreases as productivity at the firm rises.

• Journal of Technology Innovation
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• v.23 no.3
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• pp.115-135
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• 2015

In the technological cycle model, a technological discontinuity leads to the inception of industry evolution. Before the emergence of de facto standard, it is defined as era of ferment, while era of incremental change is defined after the emergence. In the era of ferment, market and product have high uncertainties, but the competition becomes fiercer in the era of incremental change. Hence, new or revised managerial strategies are required before and after the de facto standard. However, our understanding is limited. In this study, we explore determinants of firm survival after the emergence of de facto standard. We test these using 6650 product/year observations from 1983 to 2002. The results reveal that entry before the emergence of de facto standard, and the number of product in the market will increase exit rate. However, the number of company will reduce exit rate. Our findings illustrate distinctive characteristics of the industry after the emergence of de facto standard. We'll discuss academic and political implications in the last section of this paper.

• Information Systems Review
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• v.4 no.2
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• pp.257-272
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• 2002

For the successful implementation of ERP systems, it is very important to solve the issue of "misfits", that is, the gaps between the functionality offered by the ERP package and the required by the adopting organization. To solve the "misfit" issue, adapting to the new functionality has been recommended instead of customizing the ERP package. However, these claims are mostly based on case studies and anecdotal evidence with limited empirical justification. The purpose of this study is, therefore, to study the effect of ERP customizing on user satisfaction and firm performance. In this study, we also examine the differences in the effects of ERP customizing among three customizing types: modification, add-on development (to use 'user exit'), and add-on development (not to use 'user exit'). According to the empirical field study, we find no significant differences in user satisfaction and firm performance by overall customizing (total of three customizing types) level. However, we find significant differences in user satisfaction and firm performance by add-on development level. And the influences of customizing types on user satisfaction and firm performance are significantly affected by the functionality level offered by the ERP system and BPR level. These results indicate that ERP customizing may not always be the incorrect choice for solving the "misfit" issue.

• KDI Journal of Economic Policy
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• v.43 no.1
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• pp.53-80
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• 2021

The main objective of this study is to determine whether there have been TFP increases in the Korean manufacturing sector due to trade liberalization since the 1990s. Based on the methodology proposed by Pavcnik (2002), which focuses on the channel through which trade liberalization measures enhance overall industrial productivity by triggering the exit of low-productivity firms, this study tests the following two hypotheses: first, the TFP increase in the Korean tradable industry is not higher than that in the non-tradable industry, and second, plants with lower TFP levels did not exit from the tradable industry. Through the rejection of these two hypotheses, it is possible to infer indirectly the effect of trade liberalization on firm productivity rates in Korea since the 1990s. First, this analysis reveals that since the 1990s, the TFP of the tradable sector compared to the non-tradable sector presented a statistically meaningful increase only in the 2000s, when China joined the WTO and trade increased sharply between Korea and China. Secondly, TFP growth in the tradable sector was positively affected by exits, as it was plants with lower TFP levels that ceased to exist.

• Journal of Korea Fair Competition Federation
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• no.160
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• pp.90-103
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• 2012

이 글은 2008년 미국발(發) 금융위기 이후 OECD 경쟁위원회가 개최하였던, 다음과 같은 금융위기 관련 주제에 대한 라운드테이블에서의 논의 결과를 요약한 것입니다. ${\cdot}$ Exit Strategies(2010), Concentration and Stability in the Banking Sector(2010), Failing Firm Defence(2009), Competition and Financial Markets(2009).

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.1
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• pp.53-61
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• 2021

Purpose - This study aims to understand the phenomenon called "regional multinational" in the geographical expansion of multinational enterprises and to find some evidence whether globalization of multinational enterprises tends to have a strong home region bias. Research design, data, and methodology - Through an in-depth case analysis, we analyze the series of strategic behaviors Wal-Mart made in South Korea from its entry in 1998 to its withdrawal in 2006. Then, we discuss the plausible causes of this exit, seeking to provide some evidence on the "regional multinational" phenomenon. Result - This study finds some evidence on the regional-based expansion of multinational enterprises. Our case study shows that Wal-Mart in South Korea focused on global standardization strategy and made an exit from the market as they were faced with increasing localization demands. From the perspective of multinational enterprises' globalization strategy, Wal-Mart's exit from the South Korean market can be considered as a strategic exit. Conclusion - The findings of this study suggest that while national responsiveness and localized adaptation are considered as a panacea for penetrating international markets, in reality most multinational enterprises attempt to add value primarily by capitalizing on similarities across markets and remain as regional multinationals.

• Clinics in Shoulder and Elbow
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• v.8 no.2
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• pp.105-109
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• 2005

Purpose: To Analyze the exit site of pin inserted at the anterior glenoid rim in the reconstruction of the Bankart lesion and SLAP lesion using transglenoid suture technique. Materials and Methods: In the twenty adult right cadeveric scapula, insertions of pin were performed using guide at the position of 1, 2, 3 O'clock of glenoid rim. We measured the exit site of dorsal surface of the scapula by medial distance from sagittal plane of lateral border of scapular spine and the vertical distance from posterior border of the scapular spine. Results: When the pin was inserted caudally within 10 degree, at the position of 1, 2, 3 O'clock, the medial distance from lateral border of the scapula is averaged 29.4, 19.2, 34.0 mm respectively and the vertical distance from posterior border of the scapular spine is averaged 15.0, 18.6, 17.2 mm respectively. When the pin was inserted caudally within 20-30 degree, the medial distance is averaged 14.6, 14.2, 15.8 mm respectively and the vertical distance is averaged 31.6, 31.9, 32.1 mm respectively. Conclusion: When the pin was inserted caudally within ten degrees using the guide, the pin exit appeared at the more medial side of the base of scapular spine and the more inferior of scapular spine. This can make the firm suture tied over scapular spine during repair SLAP and the Bankart lesion, and also prevent the injury of suprascapular nerve.

• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.79-102
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• 2018

In an entrepreneurial ecosystem, the failure rate of startups is extremely high at 90%, and every startup that fails becomes an orphan. This phenomenon leads to higher costs of failure for the entrepreneurs in the ecosystem. Failed startups have many lessons to offer to the ecosystem and offer guidance to the potential entrepreneur, and this area is not fully explored compared to the literature on successful startups. We use a case based method distinguishing a failed startup and a successful startup, studying the entrepreneurial characteristics and firm level factors which cause the failures, in the technology startup ecosystem of Bangalore. We study one of the modes of exit adopted by failed startup entrepreneurs and draw key lessons on causes that culminate in failures. We have identified that factors such as the time to minimum viable product cycle, time for revenue realization, founders' complementary skillsets, age of founders with their domain expertise, personality type of founders, attitude towards financial independence and willingness to avail mentorship at critical stages, will decisively differentiate failed startups from the successful ones. Accordingly, implications have been derived for potential entrepreneurs for reducing the cost of failures in the entrepreneurial ecosystem.

• Proceedings of the Korea Inteligent Information System Society Conference
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• 2007.05a
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• pp.375-381
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• 2007

Cognitive map (CM) has long been used as an effective way of constructing the human thinking process. In literature regarding CM, a number of successful researches were reported, where CM based what-if analysis could enhance firm's performance. However, there exit very few researches investigating the CM generation method. Therefore this study proposes a GENCOM (Genetic Algorithm based Cognitive Map Generator). In this model combined with CM and GA, GA will find the optimal weight and input vector so that the CM generation. To empirically prove the effectiveness of GENCOM, we collected valid questionnaires from expert in S/W sales cases. Empirical results showed that GENCOM could contribute to effective CM simulation and very useful method to extracting the tacit knowledge of sales experts.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.534-563
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• 2018

Venture Capital Firms (VCs) encounter severe information asymmetry risks at almost every stage in their investment lifecycle. This paper explores the agency risks arising from information asymmetry during the stage of exits by VCs from the funded companies in their portfolio and how that impacts the incidence of specific types of type of exits (IPOs/M&As). In this empirical study, by using the data on IPO and M&A exits from venture capital-funded companies, we show how the ability of prospective buyers to better resolve agency risks is directly correlated with the incidence of the above exit types. Using the technique of logistic regression, we demonstrate that factors such as syndication, specialization focus of the VC firm (in terms of stage and sector) and the level of its social capital (proxied by its age and experience) drive the success rate of exits. This is one of first studies in context of exits from VC funded companies in the Indian context.