• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.73-91
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• 2023

Purpose - The purpose of this study is to re-examine the disclosure effect of stock splits and long-term performance after stock splits using stock split data over the past 10 years, and infer the motivation (signal or opportunism) of stock splits. In addition, we focus on exploring the determinants of the short- and long-term market response to stock splits. Design/methodology/approach - We measure the short-term market response to a stock split and the long-term stock performance after the stock split announcement using the event study method. We analyze whether there is a difference in the long-term and short-term market response to a stock split according to various company characteristics through univariate analysis and regression analysis. Findings - In the case of the entire sample, a statistically significant positive excess return is observed on the stock split announcement date, and the excess return during the 24-month holding period after the stock split do not show a difference from zero. In particular, the difference between short-term and long-term returns on stock splits is larger in companies with a large stock split ratio, small companies, large growth potential, and companies with a combination of financial events after a stock split. Research implications or Originality - The results of this study suggest that at least the signal hypothesis for a stock split does not hold in the Korean stock market. On the other hand, it suggests that there is a possibility that a stock split can be abused by the manager's opportunistic motive, and that this opportunism can be discriminated depending on the size of the stock split, corporate characteristics, and financing plan.

• Journal of Korea Society of Industrial Information Systems
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• v.13 no.5
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• pp.66-77
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• 2008

Six sigma is a business strategy and a systematic methodology using statistically oriented approach to process and product quality improvement. Many cases have reported significant benefits from six sigma implementation. But, some organizations have been reported that six sigma methodology has not given the expected benefits. Further, small and medium sized companies have faced various barriers. The purpose of this paper is to examine the successful case study on the improvements of partnership between large and small/medium-sized companies via six sigma activities. Data were collected using in depth interviews of six sigma champion, master black belt, and black belt from one large company and five medium-sized companies in Gumi industry zone.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.3
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• pp.11-23
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• 2024

Purpose: The plant industry is a key order-taking industry that leads national industrial development through convergence and integration with various industries in all value chains from planning and marketing to financing, design and engineering, purchasing, construction, and operation and maintenance (O&M). Research design, data and methodology: The Korea government has been actively promoting overseas plant market development support projects to support large and public enterprises and medium and small enterprises. Results: The Korea government are working with the industry and the government so that the Korean plant industry can establish itself as a key driving force that provides the foundation for low-carbon and energy transition that our times demand and makes our world a better place to live. Conclusion: A high value-added industry that brings enormous profits and international fame to exporting countries. Korea is highly dependent on trade, should recognize the plant industry as a key national export sector.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.191-196
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• 2013

The proportion of small and medium sized enterprises based on the number of corporations in China is 99%, the number of employees is 80%, and the proportion of GDP is 60%. These facts show that small and medium sized enterprises have an very significant effect on the economic growth of China. However, most of the researches conducted so far have studied large corporations, thus, there are relatively insufficient researches on the determinant of the capital structure of small and medium sized enterprises. Therefore, the purpose of this paper is to confirm the factors that determine the capital structure of small and medium sized enterprises in China. To achieve this purpose, we performed multiple regression method to 45 small and medium sized manufacturing enterprises listed on the Shenzhen Stock Exchange of China. Results of this study are as follows. First, the growth appeared to have a significant positive effect to the debt ratio in 1% significance level. Second, the profitability appeared to have a significant negative effect to debt ratio in 1% significance level. Third, the firm size appeared to have no effect on the debt ratio. Fourth, the secured value and tax shield effect by non-debt appeared to have a weak positive effect on the debt ratio, however these variables showed statistical insignificant.

• Journal of Distribution Science
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• v.12 no.9
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• pp.5-13
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• 2014

Purpose -This study is to measure the effects of retail legislations on small retailers and traditional markets. Research Design, Data, and Methodology - The authors have developed a questionnaire with five hypotheses on the basis of previous research results and six constructs: the improvement of sales volume, the number of customers, the improvement of store traffic, the increase of store staff, business expansion and retail regulation. Furthermore, the research has adopted a five-point Likert-scale technique. In order to increase research reliability as well as validity, the authors have adopted a few different research techniques such as exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Results - Although existing retail regulations might be better than nothing for now, the degree of retail constraints on large retailers should be strengthened. Furthermore, different legal methods to protect mom and pops are needed. Conclusions - In order to improve the effects of retail restrictions on large retailers, the research indicates that the central government should change a retail policy, that is, introduce new technical ways to keep mom and pops and conventional markets.

• Fire Science and Engineering
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• v.27 no.2
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• pp.18-24
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• 2013

Goverment and enterprises have been devoting a lot of dffort in order to prevent the loss of human and property due to a large, diversified fire, explosion, global warming and disasters caused by natural phenomena. But Enterprises came forward and running in the economy priority policy for profit-seeking until now in order to meet the macro purpose of quality improvement of national life and welfare promotion in company with National growth, as a result of lax risk management have had to endure the loss of precious lives and property. According to the '2007 Survey of public safety for the activation of the safety culture' of National Emergency Management Agency [NEMA], a insensitivity of safety in our society was surveyed 'a serious level'. In this study, surveyed need of 'step-by-step fire protection safety management system builds' in order to prevent fire safety accident and improvement of safety awareness level through a systematic management and real condition estimation of not only large business that can control risk management, but also small business that has a big risk to occur accident easily according to small budget and organization.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.13 no.6
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• pp.49-62
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• 2010

This study aims to examine a significant difference in performance of, and attitudes towards, environmental tourism among domestic tourism companies by their types and scale, and to propose a policy direction for a new certification program on environmental tourism. This study conducted a survey with 152 tourism accommodations and 150 travel agencies. As a result, this study found that tourism accommodations and a large scale of companies had participated in environmental management practices more often than travel agencies and a small scale of companies. Also, tourism accommodations were more likely to recognize well a relation between their business and environmental tourism, and were more likely to participate in a new certification program than travel agencies. A large scale of tourism accommodations showed more positive attitudes towards environmental tourism than a small scale of tourism accommodations. On the other hand, all of the travel agencies showed less positive attitudes towards environmental tourism regardless of their size. In conclusion, this study proposed that the government should adopt a different approach to a new certification program according to tourism companies' types and scale, also it should provide a variety of incentives and supports for tourism companies.

• Journal of Korean Society for Quality Management
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• v.47 no.3
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• pp.479-496
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• 2019

Purpose: The purpose of this research is to develop defense quality evaluation model in order to improve the problem of private sector quality evaluation model and propose the total integrated defense quality management model which enables to evaluate not only large defense industry, but also small-medium industry. Methods: This paper consider the characteristics on ISO 9001 Quality Management System, single PPM, PASS and defense quality and develop defense quality maturity model and index which enables to measure the current quality management level and characteristics and to evaluate operational characteristics in each maturity level for domestic defense industry. Results: From 176 DQMS certified defense industry, the defense quality maturity level is 68,2, C grade. The large defense industry shows, 80.9, A grade; medium industry 69.7, C grade; small-medium industry shows 54.1, D grade. Through the classified types of industries, the current level of quality management of defense industries was diagnosed and the areas to be supplemented for the total quality management were identified. Conclusion: Developed DQMI can be used as the basic information for spreading quality management activities in the defense industry by diagnosing the overall quality management of existing defense industries and quantifying the ambiguity of non-metric measurements and measurement standard that were presented as the threshold of the defense quality management system certification process.

• Journal of Applied Tourism Food and Beverage Management and Research
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• v.7
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• pp.41-59
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• 1997

After the industrial revolution, we have changed whole life-styles. This trend has brought a change in our eating style. Nowadays, the great number of people go out to eat-even three meals a day. As a result, the growth rate of food service industry increases day by day. Some restaurants are managed by the large scale company and others by the small scale ownership. Though developed countries are in the maturity step of the product life cycle in this field, we are in the growth step. We will hold the in 2002. A lot of tourists and the press will rush to Korea. They must have their meals at the restuarant. Therefore, we need more practice to satisfy them and to lead to successful management in this field. Also, we need an evaluation to qualify each business so that our food service industry does not decline compared to other country's. This study is trying to find how to evaluate and qualify each business in the various areas: service, the quality of food, the mood of the restaurant and so on. In addition, it includes the restaurant rating form.

• The Korean Journal of Franchise Management
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• v.3 no.1
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• pp.130-143
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• 2012

Franchise store retailing is taking on ever greater roles in business and commerce in China. The diverse product range, small-batch order, high frequency and time-specific requirements inherent in retail logistics make it the most complicated of all categories of logistics. In franchise store retailing, expanding business scales make trans-regional development a trend. Without a well-functioning logistic system, the standardized delivery of products would be held back, impacting trans-regional development strategy and operational costs. Therefore, the efficiency of franchise store retailing largely depends on logistical efficiency. The integrated and streamlined management of franchise stores depends in large measure on their logistical centers. As such, logistical centers constitute the key link and bears on core competitiveness in franchise store retailing. This thesis begins with an analysis of the current developments and four basic logistical models of franchise store retailing in China, proceeds to summarize developmental trends as well as focal issues and proposes an efficiency enhancing plan.