• Analyses & Alternatives
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• v.7 no.3
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• pp.145-179
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• 2023

This study empirically examines the relationship between the education and competence, age and competence, and the returns to skills in the labor market in different countries using PIAAC data. The main focus is notable characteristics of Korea compared to other PIAAC participant countries. Contrary to young students who have highest scores in international tests, Korean adults made mediocre performances in all three areas, numeracy, literacy, and problem solving. It turns out that the correlation between educational level and competence is weak in Korea compared to other countries, whereas the depreciation of competence from aging is strongest. In terms of labor market returns, literacy skills get highest returns while problem-solving skills get lowest in Korea. In contrast, the numeracy skills get highest returns, and the problem-solving skills have high returns than those of Korea in many other countries When we include three skills in the Mincer wage equation, the returns to problem solving skills have negative effect in Korea, which is rarely found in other countries. These results implies that problem-solving skills are not much appreciated in the Korean labor market and Korean adults have few opportunities of accumulating human capital after finishing formal education. Korean need to rethink the ways to accumulate human capital and enhance economic performances to overcome high deprecation in human capital after formal education and to make the labor market more efficient in a sense that adults' competence results in the due economic returns.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.571-579
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• 2020

This paper examines how human capital and other economic variables, such as private investment, economic growth, government investment, inflation, and unemployment influence inequality in Indonesia's provinces. We apply panel data model with fixed effect estimation for the data of 34 provinces from the period 2013 to 2019. We develop a new index for human capital using the education index approach. The results show that human capital has a negative and significant effect on income inequality. An increase in human capital is related to an increase in knowledge and competence due to the longer average school year and expectations of the school year. Human capital has increased the possibility of a person being accepted into the job market and earning a higher income; hence, it lowers income inequality. We also find that inflation leads to a higher gap of income distribution. A further implication of this situation is that the rise in inflation causes an increase in low-income people, and as a consequence, makes their lives worse off. This paper will be beneficial for policy-makers for whom human capital, which is measured using an education index, is an important factor that significantly affects income inequality, in addition to other economic factors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.257-269
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• 2021

Intellectual capital is becoming a crucial factor for a firm's long-term profit and performance in the knowledge-based economy as more firms identify their core competence as invisible assets rather than visible assets (Itami, 1987). The company was encouraged to measure financial and non-financial factors, including the customer perspective groups, the internal business process, learning and growth perspective, then to link all these measurements in a coherent system. This paper seeks to investigate the influence of intellectual capital elements on company performance, as well as the relationship among intellectual capital elements from a cause-effect perspective. Resource-Based View (RBV) considers intellectual capital as resource and capability to sustain competitive advantage on company performance. The partial least squares approach is used to examine listed banks in Indonesia Stock Exchange for year 2017-2019. Results show that human capital directly has positive influences on innovation capital, customer capital, and process capital. Innovation capital has positive, but less significant influence on process capital, which in turn influences customer capital. Human capital and process capital also influence customer capital. Finally, customer capital contributes to performance. This study helps management to identify relevant intellectual capital elements as competitive advantage and their indicators to enhance business performance.

• The Journal of the Korea Contents Association
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• v.19 no.6
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• pp.311-324
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• 2019

The purpose of this study is to analyze the mediating effects of employee outcomes on the relationship between quality of employment and organizational performance and to understand the specific mechanism of the impact of employment quality on organizational performance. Although there has been a widespread debate on the merits of the quality of employment, there have been few studies dealing with how the quality of employment contributes to organizational performance. For the empirical analysis, we analyzed the mediating effect of employee outcomes on the relationship between employment quality and employee outcomes (human capital competence and collective organizational commitment) and employment quality and organizational performance for 501 Korean companies. The results showed that the higher the quality of employment, the higher the employee's human capital competence and collective organizational commitment, and the employee outcomes mediate the relationship between the quality of employment and organizational performance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.473-483
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• 2020

Internationalization of SMEs has gathered pace in recent times with falling trade barriers and rising world trade encouraging small firms to seek profits and growth in foreign markets. This has attracted the attention of researchers, and several studies have been conducted in Western nations on the factors influencing the process of SME internationalization. However, hardly any study has been done on SME internationalization in the Gulf Cooperative Council (GCC) region, thus leaving a gap in the literature. This study investigates the influence of four factors, namely, human capital, network competency, entrepreneurial orientation, and market volatility on the degree of internationalization of SMEs in Oman. The study employs survey data collected from 150 SME owners and managers using a structured questionnaire having 27 items, and has been analyzed using correlation and logistic regression, as the dependent variable is binary in nature. The results reveal the impact of the chosen variables on the degree of internationalization of SMEs. The findings of the study suggest that network competency has the highest impact on degree of internationalization of Omani SMEs, followed by human capital and entrepreneurial orientation, while market volatility, though insignificant, moderated the relationship between entrepreneurial orientation and degree of internationalization of Omani SMEs.

• The Journal of the Convergence on Culture Technology
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• v.10 no.3
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• pp.593-604
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• 2024

This study examined the effect of leadership competence on job embeddedness among child co-residence workers to mitigate the negative impact of human resource management on their low job tenure and treatment. The study initially tested the mediating effects of social capital and organizational culture between the two variables, thereby suggesting ways to enhance job attendance among workers in children's shared family homes. The results of the study are as follows. Leadership competencies among child co-residence workers were found to have a positive effect not only on job embeddedness but also on social capital and organizational culture. Social capital and organizational culture were identified as mediators in the relationship between leadership competencies and job commitment The primary significance of this study lies in its identification of the relationship between leadership competence and job attendance - a factor previously overlooked. This finding offers a pathway to increase job attendance. Furthermore, the study expands the scope of relevant variables to include leadership competence, social capital, and organizational culture. Finally, it sheds light on the mediating effects of social capital and organizational culture on the relationship between leadership competence and job embeddedness.

• The Journal of Industrial Distribution & Business
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• v.12 no.2
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• pp.7-17
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• 2021

Purpose: Previous studies have rarely examined the role of higher education for human capital development in the case of Korea. The purpose of this study is to investigate effects of higher education for international students in globalized environment on job satisfaction, globalization, and hosting country. Research questions include the following: i) how do application and improvement on work, performance, self-confidence, and use of network affect job satisfaction; ii) how do leadership, policy improvement, public diplomacy, social responsibility and global competence affect globalization?; iii) how do affective, cognitive, and behavioral components affect attitude of hosting country? Research design, data, and methodology: Online survey and interviews were conducted. For quantitative research, this study applied factor and structural equational modeling, while for qualitative research, this study applied cognitive mapping and sentimental analysis. Results: This study found that most of proposed effects showed significant. The results showed consistent for quantitative and qualitative researches. Conclusions: The results implied that higher education in global environment plays a key role to enhance job satisfaction, globalization, and attitude toward the hosting country and contributes to foster international relations significantly. The results also implied that human capital development in globalized environment helps improve global network and public diplomacy.

• Journal of Global Scholars of Marketing Science
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• v.18 no.1
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• pp.1-31
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• 2008

Trust is central to human relationships, at all times and places. The importance of trust is fundamental in all areas of human life, not only in the area of business administration. 2,500 years ago in China, Confucius taught that the foundation of politics was the trust of the people, more important even than military strength or the supply of food. Shakespeare's play, "Much Ado about Nothing' is about trust and deception. These days, trust and transparency in a commercial organization's business culture form the basis of the 'social capital' by which that organization increases its productivity. A successful company raises productivity by the accumulation of social capital, derived from a trust relationship between business partners, and between the company and consumers. Trust is the crucial factor. At the national level, building trust determines a nation's competitiveness. For a company, long term trust relationships with customers are essential for its survival in a business environment of rapid change. Such relationships, based on trust, are important assets to ensure a company's competitive advantage, and need to be organic to that company's business culture. Because of this importance, trust relationships have been studied in diverse areas within business administration, and especially within marketing, where they form the basis of a successful relationship between producer and consumer. However, what has been lacking is a unified definition of trust. Research has been conducted on the basis of various definitions and models. The majority of researchers have not considered the multidimensional character of the concept of trust until now. Approaches based on a one dimensional model have undermined the value of research results. Furthermore, researchers have only considered trust and trustworthiness as a single component. The majority of research has explored the consequences of perceived trust for outcomes such as loyalty or cooperation, but has neglected the effects of trustworthiness upon the mechanisms of consumer trust. This study focuses on the dimension of trust from such a perspective. It seeks to verify the effect of trust on customer intentions by breaking it down into three separate components: 1) the salesperson, 2) the product/service, and 3) the company. The purposes of this paper are as follows: Firstly, we review the multidimensional nature of trust objects: the salesperson, the product/service, and the company. Secondly, we analyze the relationship between multidimensional trust and trustworthiness. Thirdly, we analyze the connection between trust and repeat purchase intentions for the maintenance of long term relationships. For these purposes the author has developed several hypotheses as follows: H1-1: The competence of a salesperson is positively associated with the trust given by the consumer to the salesperson. H1-2: The benevolence of a salesperson is positively associated with the trust given by the consumer to the salesperson. H2-1: The competence of product/service is positively associated with the trust given by the consumer to the product/service. H2-2: The benevolence of product/service is positively associated with the trust given by the consumer to the product/service. H3-1: The reputation of a company is positively associated with the trust given by the consumer to the company. H3-2: The physical environment of a company is positively associated with the trust given by the consumer to the company. H4-1: Trust in a salesperson is positively associated with repeat purchase intentions. H4-2: Trust in a product/service is positively associated with repeat purchase intentions. H4-3: Trust in a company is positively associated with repeat purchase intentions. The data was compiled from 366 questionnaires. 500 questionnaires were collected, but some of the data was considered unsuitable and inappropriate. The subjects of the survey were male and female customers purchasing products at department stores in Seoul, Daegu and Gyeongbuk. It was carried out between Oct. 25 and 29, 2007. The data was analyzed by frequency analysis using SPSS 12.0 and structural equation modeling using LISREL 8.7. The result of the overall model analysis is as follows: Chi-Square=445.497, d.f.=185, p-value=0.0, GFI=.901, RMSEA=.0617, NNFI=.986, NFI=.981, CFI=.989, AGFI=.864, RMR=.0872. The results of the overall model analysis were coherent. It was found that trust is a multi-dimensional construct, that each of the dimensions of trust are meaningful influences on customer's repurchase intention. Trust in a company may be the most relevant, while trust in a product/service and a salesperson may be less relevant to repurchase intentions. The effective factors in determining trust in a salesperson and a company's product/service were found to be competence and benevolence. Factors in determining trust in a company were its reputation and physical environment, and the relationship of each effective trust factor has been verified in this research. As a result, it was found that competence and benevolence have a meaningful influence on trust in a salesperson and in product/service. It was also found that a company's reputation influences the overall trust in the company significantly but a company's physical environment does not have much effect.

• The Journal of the Korea Contents Association
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• v.17 no.4
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• pp.83-94
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• 2017

This study aimed to provide important information on vocational education and employment policy for the disabled by analyzing the relationship between disabled wage workers' occupational ability and job quality. For this purpose, the relationship between job competence and employment quality was theoretically examined and empirically analyzed based on human capital theory, screening theory, and job competition theory. The empirical analysis used data on 975 disabled wage workers with the use of the data of the 8th Panel Survey of Employment for the Disabled(2015). As a result of the empirical study, it was found that the occupational ability of the disabled workers is an important factor in determining Wage, job status, job satisfaction, which constitute the quality of employment. This result indicates that job quality can be improved by ameliorating disabled people's occupational ability. Accordingly, this study proposed that there might be a need to extend customized education and educational facilities for improving disabled people's occupational ability.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.8
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• pp.548-559
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• 2019

Today, companies are enhancing their management transparency by implementing a variety of methods such as adopting a Code of Business Ethics to achieve sustainable management that enables long-term, stable development in a rapidly changing business environment. Management's ethical leadership is the core competence of human capital to secure competitive advantage in any enterprise. This study examined the effect of ethical leadership on employees' turnover intention and the mediating effect of empowerment in the relationship between ethical leadership and employees' turnover intention. The study data were collected from a survey of 304 employees of Seoul and Gyeonggi-based companies from March 6 to March 27, 2019. SPSS 23.0 and AMOS 23.0 were used for data analysis. From the analysis results, first, the leader's ethical leadership has a statistically significant impact on empowerment. Second, the management's ethical leadership has a significant negative influence on employees' turnover intention. Third, empowerment has a negative effect on employees' turnover intention. Fourth, empowerment has a mediating effect on the relationship between the management's ethical leadership and employees' turnover intention.