• 광고학연구
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• 제27권4호
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• pp.71-90
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• 2016

기업 경영자는 매년 지출하는 광고비가 고객만족을 높이고, 개선된 고객만족이 장기적으로기업에 이득을 가져올 수 있는 투자인지 알고 싶어한다. 경영자가 광고 지출수준을 결정할 때 소비자의 고객만족과 관련된 측면을 중요하게 고려하면서도, 궁극적으로 투자자가 중시하는 수익성과 기업가치에 역점을 두고 평가할 것이다. 본 논문은 1998년 외환위기 이후 17년간한국 대표기업의 범산업적 종단 데이터를 사용하여, 광고비 지출이 브랜드 애호도에, 그리고 재무성과에 미치는 장기적인 효과를 다각도로 검토한다. 구체적으로 국내기업의 광고비 지출비율이 고객만족 결과요인인 브랜드 애호도에 미치는 효과를 살펴보고, 브랜드 애호도가 재무성과(수익성, 기업가치)에 미치는 효과를 산업별로 실증적으로 분석하였다. 국내기업 184개사의 1998년부터 2014년까지(17년간) 패널데이터를 분석한 결과, 제조업에서는 유의한 결과를 발견하지 못했으나, 서비스 기업의 광고 활동(광고 수준)은 마케팅 지표에 긍정적 영향을 미치고, 브랜드 애호도는 수익성지표(ROA, ROE)와 기업가치 지표(Tobin's q)에 긍정적인 효과를 주는 것으로 분석되었다. 따라서 본 연구결과를 요약하면, 서비스 기업 경영자는 기업의 현재와 미래성과를 고려하여 소비자에게 긍정적인 영향을 주는 광고수준을 결정하고, 이를 통해 개선된 애호도는 기업수익성을 높이고, 또한 투자자에게 긍정적인 영향을 주어 기업가치를 높이고 있음을 보여준다.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.703-710
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• 2020

The stock market serves as a representation of economic well-being in a country. Along with the myriad of economic predictors, specific knowledge possession may lead to different macro consequences of stock performance and market value. This study empirically investigates the capacity of possessing excellent intellectual capital to increase the performance and values of listed banks in Indonesia. The selection of banks as the primary data represents such sectors' capability to attract, employ, or exploit the excellent internal capacity under the discussion of resource-based view theory. At best to the authors' knowledge, this topic's findings are still elusive and debatable upon considering the direct and indirect relationships between the proposed exogenous and endogenous variables. Eighteen listed banks form the panel data throughout 2011-2016. This study employs a path analysis and Sobel test to obtain the results of the proposed hypothesis. The results report some positive relationships of the intellectual capital to firms' performances and values, directly and indirectly, with a substantial effect on the second model compared to the first model. This study highlighted knowledge's capacity as a vital basis to gauge the banks' performance and valuation. However, a better formulation of intellectual capital is required to capture a better measurement.

• 한국경영과학회지
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• 제23권4호
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• pp.213-224
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• 1998

Since the late 1980s, an Increasing number of neural network models have been studied in the areas of financial prediction and analysis. The purpose of this study is to Investigate the possibility of building a neural network model that is able to construct a profitable trading strategy in the Korean Stock Market. This study classifies stocks into the future market winners and losers from the publicly available accounting information and builds portfolios based on this information. The performances of the winner portfolios and the loser portfolios are compared with each other and against the market index. The empirical result of this research is consistent with the traditional fundamental analysis where it is claimed that the financial statements contain firm values that may not be fully reflected In stock prices without delay. Despite the supporting empirical evidence. It is somewhat Inconclusive as to whether or not the abnormal return in excess of market return is the result of the extra knowledge obtained in the neural network models derived from the historical accounting data. This research attempts to open another avenue using neural network models for searching for evidence against market efficiency where statistics and intuition have played a major role.

• 경영과학
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• 제29권1호
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• pp.153-168
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• 2012

Order allocation is one of the most important decision-making problems of firms having significant influences on performances of themselves and the whole supply chain. Existing researches about order allocation have mainly focused on evaluating capabilities of directly connected suppliers so that it is hard to consider effects and interactions from undirected connections over multiple lower-layers. To alleviate the limitation, this paper proposed a novel approach to order allocation using structural hole. By applying the concept of structural hole to the supply network, we could evaluate the structural supplying powers of firms with respect to both of direct and indirect connections. In the proposed approach, we derived a methodology to measure the potential supplying power of each firm by modifying the effective size as one of the measurements of structural hole and then, proposed its application, the structural hole based order allocation strategy. Furthermore, we conducted the agent based modeling of supply chain to perform the decision-making process of order allocation and simulated the proposed strategy. As a results, by coping with the variance of demand more stably, it could improve the performance of supply chain from the aspects of fill rate, inventory level and demand-supply balance.

• 유통과학연구
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• 제15권5호
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• pp.17-28
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• 2017

Purpose - Considering the environmental issues in corporate management is now a necessity, not an option. In addition, consumers' interest in health and environment has increased rapidly. This study aims to investigate how the management style that pursues environmental protection affects the various outcomes at each management process such as planning, producing and supervising process. Research design, data, and methodology - We surveyed 319 manufacturing companies from April 1 to April 30, 2016. Green purchasing, environmental technology management and management support are selected as independent variables and firm performances as dependent variables. Three analyses including factor, regression and moderating were conducted. Results - Regression analysis was performed to set up hypotheses. Consequently, the total six hypotheses were adopted and then innovative management style showed moderating effect. Conclusions - Companies should consider environmental factors to improve the financial performance in the long term. Especially the cooperative style enhances financial performance by implementing eco-friendly design in cooperation with customers. Also, eco-friendly activities with suppliers could have direct environmental protection effects. Therefore, a manufacturer needs to cooperate with both suppliers and customers to maximize the protection effect. The production of eco-friendly products and implementing eco-friendly design with customers positively affect product quality.

• Journal of Information Technology Applications and Management
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• 제22권1호
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• pp.153-163
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• 2015

The purpose of this study is to investigate the relationship among factors that expand the win-win growth between domestic finished goods-making manufacturers and subcontractors. One-hundred twenty six firms participated for this study and were used for the data analysis. As a result of analysis, first, it was found that the win-win growth between first-tier suppliers and second-tier suppliers has positive effects on the win-win growth made by second-tier suppliers helping the third-tier suppliers. Second, it was found that the win-win growth policies supported by the government for the positive relationship between first-tier suppliers and second-tier suppliers for the finished goods-making manufacturers have positive effects on the win-win growth between second-tier suppliers and third-tier suppliers. Third, the results also showed that the win-win growth between second-tier suppliers and third-tier suppliers has a positive influence both on the financial and on the non-financial performances of the second-tier suppliers. Based on the results of this study, it is recommended to (1) construct infrastructure by sector through partnership between finished goods-making manufacturers and subcontractors, (2) draw in active support through the governmental win-win growth policies, (3) induce increasing productivities through information sharing, manpower support, technical support and educational support, and (4) strengthen and cultivate the culture of the small- and medium-sized companies.

• 한국건설관리학회논문집
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• 제6권5호
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• pp.128-138
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• 2005

기업 인수/합병의 성과에 대한 평가는 인수/합병 발표일 전후 단기간에 걸쳐 실현되는 경제적인 이익을 측정하는 방법과 인수/합병 종료 후의 장기 경영성과를 평가하는 방법으로 대별된다. 본 연구에서는 최근 국내외에서 급증하고 있는 건설분야 인수/합병 중 선정된 샘플을 대상으로 위에서 기술된 전자의 방법을 중심으로 전반적인 성공여부를 분석/평가하였다. 또한 인수/합병이 기업전략의 이행이라는 관점에서 사업다각화 방향에 따른 성과를 비교/분석하였다. 분석결과에 의하면 국내외 건설분야 인수/합병의 단기성과는 다소간의 경제적 이익을 실현한 것으로 평가되었으나 통계분석의 관점에서 성공적이라는 결론을 내리기 어려운 것으로 나타났다. 한편, 사업다각화 방향에 따른 성과의 비교에서는 유사부문 및 타 부문으로의 사업다각화 사이에 뚜렷한 차이가 없는 것으로 나타났다.

• 통상정보연구
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• 제10권2호
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• pp.391-410
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• 2008

Emphasis on relationship management might be found out from Williamson (1975), who tried to elucidate why an organization exists. According to his transaction cost theory, an organization is established to evade opportunistic actions of the market and build up a hierarchy of value chain. However, judged from the perspective of exchange relationship in a trade, the transaction cost theory was likely to approach to buyer-seller relationship by the mechanism of competition. Therefore, an organization exists to control the competition of the market. Relationship management suggested by relationship marketing focuses on cooperation between buyers and sellers, rather than competition against each other. Relationship management aims to provide a framework for making a market relationship that might become an asset or a resource of the firm. In the process of maintaining and strengthening long-term and cooperative relationship with all stakeholders included customers, suppliers and staff, they continue to create new values. The purpose of this empirical research, by investigating how relationship management of multinational enterprises influences on their competitive advantages and performances, is to suggest that a cooperative relationship established for a long time in the market, so-called quasi-market relationship, substitutes for an organization.

• 한국의류학회지
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• 제33권2호
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• pp.331-342
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• 2009

The purposes of this study were to provide the apparel companies with a effective marketing strategy by identifying the present condition of loyalty programs and designing the type of reward and the timing of reward, and to investigate the effects of loyalty programs on customers' satisfaction and loyalty. The experimental study was conducted to examine the relationship between loyalty programs and performances. The experiment, which adopted a scenario methodology, was a 2(type of rewards)${\times}$2(timing of rewards) between subjects factorial design. The sample was based on 362 college students. The data analysis was completed on the basis of SPSS 12.0 package, using descriptive analysis, frequency, factor analysis, Cronbach's a, ANOVA, and regression analysis. The following results were found in this research. First the respondent's recognition of reward(benefit, reserve fund, experience) was not relatively high. Second, the interaction effect of type of rewards and timing of rewards on the loyalty programs' satisfaction(p<.01) and customer loyalty(p<.001) was significant, but that on customer satisfaction was not significant. Finally, loyalty programs' satisfaction positively affected customer satisfaction and loyalty. The implications of the research and directions for future researchers were discussed.

• 패션비즈니스
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• 제15권3호
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• pp.125-141
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• 2011

This paper is to focus the financial ratio analysis of the Korean textile and apparel companies due to fast changing domestic industry. Financial ratios are playing a pivotal role in management analysis to assess the present conditions to predict the future. Subjects are belonging to textile and apparel manufacturers based on Firm Classification Standard while registered as securities listed-firms or Kosdaq-listed firms under the Electronic Notification System of Korean Banking Supervisory Authority. 41 companies' data have been analyzed including 17 apparel companies and 24 textile companies. 14 representative financial ratios are analyzed. In this paper, financial ratios can be classified into four categories as follows: stability ratios, profitability ratios, growth ratios and activity ratios. The independent t-test was performed using SPSS 18 for a 10 year simple arithmetic average. The following conclusion has reached regarding aspects of management conditions and performances. When compared the ratios indicating stability, textile and apparel companies did not show much difference in debt ratio and the ratio of earning to interests. However, when compared the profitability ratios measuring the ability to produce incomes, apparel companies showed higher ratios than textile companies. Thus it is important to recognize financial characteristics of each industry.