• 한국철도학회:학술대회논문집
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• 한국철도학회 2007년도 추계학술대회 논문집
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• pp.1951-1966
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• 2007

This research attempts to examine the effects of import penetration in an industry on the firms' decision of business diversification and provide an integrative framework including the determinants and results of the business diversification. The research results are as follows. First, the import penetration doesn't affect the degree of business diversification. Second, the more profitable their core business industry, the lower the degree of business diversification against the import penetration. In addition, both technology-related assets and marketing-related assets are necessary for business diversification when faced with the import penetration. Finally, the inverted U-shaped relationship is supported between the degree of business diversification and firm performance.

• 아태비즈니스연구
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• 제14권4호
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• pp.151-161
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• 2023

Purpose - In this study, we examine the factors related to the asset allocation decisions of individual investors who 1) directly invest in stocks or bonds, 2) indirectly invest in various fund products (excluding CMA and MMF), and 3) invest in both products. Design/methodology/approach - We collect a sample of 3,000 individual investors and investigate the factors influencing investment behavior, especially the diversification tendency in asset allocation, with the "Investor Behavior Survey" that is conducted jointly by the Korea Financial Investment Association and the Korea Gallup Research Institute in 2011 and 2012. Findings - Our regression analyses estimate the marginal effects of various factors such as the amount of total financial assets, monthly income, occupation, age, and gender. The results reveal that male investors with manual labor occupations were less inclined to diversify their investments compared to female investors in office jobs. Additionally, higher monthly income is associated with a greater inclination toward diversification. Therefore, if a positive relationship exists between income and educational level, we may suggest that higher educational levels lead to a greater tendency for diversification. Research implications or Originality - Interestingly, investors who engage in direct investments tend to exhibit a weaker diversification tendency as the amount of their direct investment increases. On the other hand, investors who engage in both direct and indirect investments show a weaker diversification tendency as the amount of total financial assets increases. This suggests that the investment style of investors is closely related to their diversification behavior.

• Journal of Korea Trade
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• 제25권5호
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• pp.74-92
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• 2021

Purpose - Utilizing a large sample of Korean firms, this study examines international diversification impacts on corporate tax avoidance and whether firms affiliated with large business groups (known in Korean as "chaebol") reinforce the relationship between international diversification and tax avoidance. Design/methodology - This paper hypothesizes that 1) international diversification is likely to increase tax avoidance, 2) the positive effect of international diversification on tax avoidance is likely to be more pronounced for chaebol firms. We examine the hypotheses by using Korean firms listed in the Korean stock market between 2011 and 2016. We employ the number of foreign subsidiaries and the entropy index as proxies for international diversification and CASH ETR and GAAP ETR as proxies for tax avoidance. Findings - Our findings are summarized as follows. First, we have found that as firms are more internationally diversified, tax avoidance increases. It means that international diversification can be employed as a method of reducing the tax burden. Second, firms affiliated with chaebol are strengthened by the positive relation between international diversification and tax avoidance. It is interpreted that chaebol firms have more effective opportunities to reduce taxes than other firms. When entering foreign markets, they can share experience and resources to decrease taxation within the large business group. Originality/value - This study provides empirical evidence regarding the tax effect of international diversification. Unlike prior studies, international diversification is positively related to tax avoidance in Korea. In addition, we present additional evidence on the chaebol effects of international diversification on tax avoidance, in which they have an advantage to reduce taxes using transfer pricing through related party transactions, income shifting to low tax rate countries, and establishing subsidiaries in tax havens.

• 경영과정보연구
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• 제31권4호
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• pp.539-557
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• 2012

본 연구의 목적은 상장제조기업을 대상으로 다각화 수준이 비대칭적 원가행태에 미치는 영향에 대해 살펴보는데 있다. 구체적으로 다각화 수준이 높은 기업이 그렇지 않은 기업에 비해 비대칭적 원가행태가 더욱 커지는지를 분석하고, 특히 관련 다각화 기업에서 비대칭적 원가행태가 더욱 크게 나타나는지를 분석하고자 한다. 2000년부터 2009년까지 계속 상장된 244개 기업, 1,508개 기업-년 자료를 바탕으로 다중회귀분석을 통해 실증분석한 결과를 요약하면 다음과 같다. 첫째, 선행연구의 결과와 동일하게 상장제조기업의 경우 비대칭적인 원가행태가 발생하는 것으로 나타났다. 즉, 매출액 증가에 대한 판매비와 일반관리비의 증가에 비해 매출액 감소에 대한 판매비와 일반관리비 감소 비율이 작은 것으로 나타났다. 둘째, 비대칭적인 원가행태는 다각화 수준이 높은 기업에서 더욱 커지는 것으로 나타났다. 이는 다각화 수준이 높을 경우 유휴자원의 대체적 사용, 미래 매출액 증가에 따른 기회비용 등을 고려하여 매출액이 감소하더라도 유휴자원을 줄이는 즉각적인 의사결정이 이루어지지 않는다는 것을 의미한다. 셋째, 다각화를 관련다각화와 비관련다각화로 구분하였을 경우 관련다각화 수준이 높은 기업에서 비대칭적인 원가행태가 더욱 커지는 것으로 나타났다. 이는 관련 다각화 수준이 높은 기업의 경우 매출액 감소로 인한 유휴자원을 비슷한 형태로 운영되는 다른 사업부에서 활용할 가능성이 높으므로 즉각적인 유휴자원의 처분은 이루어지지 않아 비탄력적인 원가행태가 더욱 커지는 것으로 해석할 수 있다.

• Journal of Preventive Medicine and Public Health
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• 제24권1호
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• pp.16-28
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• 1991

Service diversification is recognized as an important strategy against turbulent environmental change. This study is designed to find out the trend of service diversification in Korean health care organizations and also to identify factors associated with the degree of service diversification. Data were collected from 69 hospitals out of 71 hospitals with over 300 beds. Important findings are summarized below. 1. Types of diversification are closely related to hospital size. Large hospitals have a tendency to provide sophisticated services requiring specialized skills and equipment, while small hospital have concentrated their efforts on health screening programs. 2. The more competitive and bigger hospitals are, the greater number of services that provide. Also, hospitals operating rational management information systems provide more services. Contrary to the expectation hospitals with a low performance during last 3 years showed more service diversification. 3. A trend of more diversification was observed in hospitals whose chief executive officer used a prospector strategy. 4. A multiple regression analysis revealed that bed size, competitive environment, degree of rational management, and the growth pattern were significantly associated with the service diversification.

• 한국IT서비스학회지
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• 제19권3호
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• pp.17-34
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• 2020

Recently, various attempts have been made to discover promising items and technologies. However, there are very few data-driven approaches to support business diversification by companies with specific technologies. Therefore, there is a need for a methodology that can detect items related to a specific technology and recommend highly marketable items among them as business diversification targets. In this paper, we devise Labeled Item Network for Business Diversification Consulting Support System. Our research is performed with three sub-studies. In Sub-study 1, we find the proper source documents to build the item network and construct item dictionary. In Sub-study 2, we derive the Labeled Item Network and devise four index for item evaluation. Finally, we introduce the application scenario of our methodology and describe the result of real-case analysis in Sub-study 3. The Labeled Item Network, one of the main outcome of this study, can identify the relationships between items as well as the meaning of the relationship. We expect that more specific business item diversification opportunities can be found with the Labeled Item Network. The proposed methodology can help many SMEs diversify their business on the basis of their technology.

• 응용통계연구
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• 제24권1호
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• pp.1-10
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• 2011

본 연구는 포트폴리오 이론에 입각해 위험을 최소화하기 위한 투자의 국제적 분산 가능성에 대해 통계적으로 검정해 보았다. 국내외 주요 주식시장 간 동적 상호의존 관계와 구조변화를 검색하는 접근방식을 적용시켜 본 결과 아시아 외환위기에 따른 공통요인들의 존재로 인해 각 주식시장의 독자적 변동이 제약을 받아 투자의 다각화에 따른 수익이 제한되는 것으로 나타났다. 투자 다변화 여건이 조성되는 시기는 주식시장 간 동조화 현상이 약화된 이후로 판명되며, 검정결과는 당시 해외투자와 펀드판매의 증가 시기 및 시장성향의 현실을 그대로 반영한다.

• World Technopolis Review
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• 제1권1호
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• pp.6-15
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• 2012

Science and technology parks have been popular among policy-makers at several spatial levels to promote innovation and economic growth of certain localities. However, this mainly property-led policy tool has been criticised for two reasons. First, it often failed to successfully support regional networking and technology transfer to regional firms. Only unplanned science and technology parks, such as Silicon Valley, seem to have been successfully fostering regional networking and technology transfer which has led, in turn, to the development of competitive innovative clusters. Secondly, it has too often bet on the same horses and become too specialised in the same fields, such as in micro-electronics or in biotechnology. This specialisation has been theoretically supported by the cluster concept. It has led to both a zero sum game of competition between locations as well as potentially negative path dependence and lock-ins. This paper suggests increasingly supporting diversification in science and technology parks by bringing together hitherto unconnected technologies. Several recently discussed concepts could be used to support diversification, such as related variety (Frenken et al. 2007), regional branching (Boschma and Frenken 2011), regional innovation platforms (Harmaakorpi et al. 2011) and transversality (Cooke 2011).

• 산경연구논집
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• 제9권8호
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• pp.17-26
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• 2018

Purpose - Indonesian economy often receives negative impact from external factors, particularly through trade linkage. To mitigate that impact, the export market and product diversification should be established. Latin America is one of the potential regions to augment the Indonesian export market. Research design, data, and methodology - This study attempts to classify the potential market and product for Indonesian export, particularly in Latin America, by using panel regression, trade complementarity, and export similarity index over the period 2000-2015. Regression was also used to examine whether the presence of the Indonesian Trade Promotion Center (ITPC) can support diversification. Results - Based on regression results, those indexes established Chile, Uruguay, Suriname, and Ecuador as the priority countries with the products: animal and vegetable oils, fats and waxes; chemicals and related products; miscellaneous manufactured articles; commodities and transactions. Conclusions - The results of the regression concludes that the trade complementarity index gave a significant positive effect to boost Indonesian export, whereas, the export similarity index gave a significant negative effect. The regression also conclude that ITPC gave a significant positive impact on Indonesian export. For instance, the government should prioritize those countries and products and also develop ITPC there to optimize Indonesian export.

• 한국산학기술학회논문지
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• 제19권9호
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• pp.100-107
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• 2018

본 연구는 기업의 국제다각화가 하방경직적인 원가행태에 미치는 영향을 실증적으로 분석하였다. 기업의 활동수준을 나타내는 척도로서 매출액이 증가할 때의 원가증가율보다 매출액이 감소할 때의 원가감소율이 낮게 나타나는 원가행태를 하방경직적인 원가행태라고 부른다. 이러한 원가행태는 경영자의 조정비용을 고려한 의사결정으로 인해 발생하는데 국제다각화 기업의 경우, 발생액 상쇄가설에 따라 경영자의 조정비용에 대한 재량적 의사결정 판단개입이 줄어들 것이라고 판단하였다. 실증분석 결과, 국제다각화 기업이 그렇지 않은 기업보다 원가의 하방경직성이 완화되었음이 관찰되었다. 본 연구는 기업의 국제다각화가 경영자의 원가에 관련된 의사결정에 유의한 영향을 줄 수 있는 가를 검증함으로서 자본시장과 학계에 공헌할 것으로 기대된다.