• International Journal of Advanced Culture Technology
• /
• v.6 no.4
• /
• pp.292-302
• /
• 2018

This study proposes a Bayesian stochastic frontier model that is well-suited to productivity/efficiency analysis particularly using panel data. A unique feature of our proposal is that both production frontier and efficiency are estimable for each individual firm and their linkage to various firm characteristics enriches our understanding of the source of productivity/efficiency. Empirical application of the proposed analysis to Human Capital Corporate Panel data enables identification and quantification of the effects of Human Resource factors on firm efficiency in tandem with those of firm types on production frontier. A comprehensive description of the Markov Chain Monte Carlo estimation procedure is forwarded to facilitate the use of our proposed stochastic frontier analysis.

• The Journal of Industrial Distribution & Business
• /
• v.11 no.9
• /
• pp.25-35
• /
• 2020

Purpose: The purpose of this study is to investigate how much continuous investment in human capital contributes to increasing labor productivity at not only individual companies but also at the national level, and causes fundamental as well as increases for labor-management conflicts. The current research aimed to empirically demonstrate the importance of human capital investment and furthermore, based on the effect of human resource investment on labor productivity, also re-examine the role of the Labor Commission as well. Research design, data, and methodology: This study was conducted by the Korea Information Service-Financial Accounting System (KIS-FAS) using representative panel data operated by countries to measure whether long-term investment in corporate human resources affects labor productivity. Results: Two distinctive summarized results of the analysis in the Korea Credit Ratings data showed that there was a high positive correlation between corporate human resource investment and economic performance for a ten-year period from 2009 to 2018. Conclusions: The present study concluded that the role of the labor committee should be effectively formed by the labor as a mediation agency and that the role of the mediation committee members should focus more on how to strengthen the human resources management of the union.

• Journal of Labour Economics
• /
• v.32 no.2
• /
• pp.95-124
• /
• 2009

In this article, I were trying to analyze the listed manufacturing companies' trend of productivity and the corporate education & training effect after the financial crisis. According to the analysis, the listed manufacturing companies have decreased their productivity since financial crisis, and from such declining trend. jobless growth and a growth without physical and human capital investment has been observed. Furthermore, there is no efficient labor force coordination within the manufacturing industry; In order to analyze the effect of education & training investment on productivity more deeply, I have practiced the dynamic panel data analysis from constructing the micro panel data which consists of company level information 1997~2008. According to the consequences, dynamic panel data analysis solved the problem of the overestimating education & training effect fairly well.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.6
• /
• pp.143-153
• /
• 2019

This study This study analyzed the effectiveness of Corporate Entrepreneurship, using Human Capital Corporate Panel (HCCP) data from 2017. The attitude of workers, which is main link in the process of corporate entrepreneurship, has been studied at a singular level at individual and organizational levels due to the lack of data and analysis methods. Multi-level analysis using hierarchical and linear modeling was performed to improve the accuracy of the relationship estimation between variables. In addition, this study examined the moderating effect of the organizational level in the process of entrepreneurship. As a result, corporate entrepreneurship has had a positive effect on job satisfaction and turnover, which is due to the employees attitude and organization. Organizational trust in the process has been shown to perform an important role in the relationship between the corporate entrepreneurship and job satisfaction, and that the relationship between the corporate entrepreneurship and turnover has not been controlled. Based on these results, the implications, limitations, and future research tasks of the study are discussed.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.10
• /
• pp.85-96
• /
• 2022

CEO duality and its impact on firm performance represent one of the most contentious issues in both academia and business. This study, therefore, aims to examine the moderating role of CEO duality in the relationship between intellectual capital Efficiency (human, structural, relational, Capital Employed, and Innovation) and firm performance (earnings per share and Tobin's Q) among Jordanian companies. The study sample consists of services listed companies on Amman Stock Exchange. The study used panel data for the period 2014-2018 with a sample size of 230 observations. SPSS software was used to analyze the collected data. The regression results indicate a significant relationship between, IC and firm performance. When CEO Duality is incorporated into the model as a moderator, there is an increase in the R² by 7.9%. The findings from this study expand the theoretical underpinning of corporate governance research by identifying the performance implications of CEO duality within the Jordanian context. It also contributes significantly to the literature review about the current status of the practices taken in the intellectual capital components efficiency among companies listed on the Amman Stock Exchange. Findings from this study also provide contributions to the concerned policymakers such as the Ministry of Finance, Securities Commission, and Amman Stock Exchange in Jordan, to improve the current policies related to intellectual capital efficiency.

• Korean Journal of Labor Studies
• /
• v.19 no.1
• /
• pp.65-104
• /
• 2013

This study aims to examine the intermediary roles of employee performance between high performance work system (HPWS) and its operational performance on the resource based view. Taking into account the unit of analysis, this study used a hierarchical linear modeling analysis in order to test rigorously the association between HPWS at the organisational level and employee performance at the individual level. For this empirical test, Human Capital Corporate Panel (HCCP) data including 316 firms and 7,872 respondents (including 923 team leaders) were used. To meet the unit of analysis and test the mediation effect, data at the individual and team level were aggregated into the organisational level. The empirical results show that HPWS have a positive impact on operational performance as well as employee performance such as job satisfaction, organisational commitment and organisational trust. Regarding the mediation effect, job satisfaction and organisational trust mediate between HPWS and operational performance. Theoretical implications are discussed in conclusion.

• Journal of Labour Economics
• /
• v.31 no.1
• /
• pp.105-133
• /
• 2008

Focusing market failure and state intervention, this article analyzes the determinants of corporate training in Korea. Analysing the first wave of HCCP(Human Capital Corporate Panel) data produced by KRIVET(Korea Research Institute for Vocational Education and Training), this article finds that even though the skills attainead in corporate in Korea are mostly general(industry-specific), but the market failure in training appears rather small and is confined to the manufacturing industry. And the state intervention in corporate training works only at manufacturing industry, it does not work at new service industry. The results mean that in new service industry, it is difficult to find out the existence of market failure in training due to the positive externalities. Therefore Korea government should look thoroughly into the state intervention in training in new service industry.

• Journal of Industrial Convergence
• /
• v.22 no.1
• /
• pp.1-20
• /
• 2024

Regarding the discourse on the correlation between governmental financial support and firm performance, much emphasis has been placed on the role of individual corporate characteristics as well as spatial features. However, there is a notable scarcity of empirical research examining the integrated impact of corporate and cluster characteristics on managerial performance. This study addresses this gap by empirically analyzing the financial and non-financial outcomes resulting from specific allocations of governmental financial support. Additionally, it explores corporate and cluster characteristics predicted to moderate the influence between governmental financial support and firm performance. The analysis employs a two-level hierarchical linear model (HLM) at individual and group levels. The data, reorganized based on business registration numbers at the firm and cluster levels, ultimately utilized panel data from 83,395 firms and 641 clusters. The research findings indicate that governmental financial support demonstrates a positive effect (+) on both sales and patents for firms, suggesting its effectiveness in complementing market failures. Results from the hierarchical linear model analysis show that when combined with human capital capacity, absorptive capacity, and cluster network density, governmental financial support exhibits significant positive effects on sales. This study contributes theoretical and practical insights by analyzing the relationship between governmental financial support and firm performance using a two-level hierarchical linear model. It highlights the role of corporate characteristics such as human capital and absorptive capacity, along with cluster characteristics like cluster network density, in moderating the effects of governmental financial support on firm performance.

• Journal of Technology Innovation
• /
• v.25 no.4
• /
• pp.239-261
• /
• 2017

This paper analyzes how corporate product innovation affects firms' revenue and financial stability, and thereby draws the implications for the corporate strategy for sustainable growth. Corporate product innovation is defined as the development of new products within the firm, including bought-in products. Corporate revenue is measured by per capita sales and its growth rate, while financial stability is measured by debt-to-equity ratio and liquidity ratio. In the empirical analysis, the two-stage estimation method was used to control for the endogeneity of new product development. The data are drawn from the first (2005) to the sixth (2015) wave of the Human Capital Corporate Panel (HCCP) Survey, which are matched to the data from the Korea Investors Service (KIS). The results of the first-stage estimation indicate that product innovation of the firm is promoted by the firm's knowledge capital stock, human resources investment, and market-leading strategy. The second-stage estimation results indicate a positive relationship between the firm's level of activity in product innovation and short-term revenue (per capita sales and its growth), and financial stability (lower debt-to-equity ratio and higher liquidity ratio). These findings confirm that the firm's investment in technology innovation and subsequent product innovation are important strategies to enhance both short-term corporate revenue and long-term financial stability.

• The Journal of the Convergence on Culture Technology
• /
• v.9 no.2
• /
• pp.51-56
• /
• 2023

This paper analyzes the relationship between organizational development culture, intra-organizational trust, and communication and their influence on corporate competitiveness. The research model is composed that development culture has a positive effect on trust and communication, and that trust and communication have a positive effect on corporate competitiveness. The data for the analysis were integrated at the company level (510 companies) and used the data of 9,053 employees collected in the 1st survey of the Human Capital Company Panel(HCCP II) of the Korea Research Institute for Vocational Education and Training(KRIVET). For corporate competitiveness, responses to 10 factors for internal process capability and customer service capability were used. The structural equation model was employed to analyze the research model. As a result of the analysis, development culture had a positive effect on organizational trust and communication. And trust and communication were found to have a positively effect on corporate competitiveness. In the indirect effect analysis through bootstrapping, the development culture did not show indirect effects through trust and communication, so only direct effects between development culture, trust and communication, and corporate competitiveness could be confirmed.