• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.47-61
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• 2014

Many angel investors hesitate to invest in early-stage company. Most early-stage company has no sales and only R&D step project or in early approach of market. So it's impossible to evaluate early-stage company quantitatively. Therefore many angel investors depend on CEO's tendency to evaluate company and make decision for investment. The purpose of this study is discover the entrepreneurial characteristics of CEO and the importance level which affect on the angel investors decision making factors for investment. To identify the factors of entrepreneurial characteristics, survey was conducted by Delphi Technique which is involved by 20 experts who is angel investment club members, venture capitalists, CEOs and officers. Three rounds of survey results derived 10 elements of entrepreneurial characteristics for investment decision making factors including reliability, risk sensitivity, passion, perseverance, integrity, leadership, startup experience, organizational management skills, innovation and social networking. In addition, this study derived the importance level of elements of entrepreneurial characteristics based on the AHP(Analytic Hierarchy Process) theory and maintained the logical consistency by pair-wise comparison for each element. As a result of analyzing the importance of entrepreneurial characteristics, the sequence is reliability (18.1%), integrity (15.9%), leadership (11.7%), organizational management skills (10.0%), social networking (9.5%), passion(9.1%), perseverance(8.4%), innovation(8.1%), startup experience(5.3%) and risk sensitivity(3.9%) respectively. The significance of this study is somewhat decrease limit of the uncertainty arising from angel investors and angel investors can help a decision making, by discover factors of entrepreneurial characteristics that can be called the biggest influencing factors among Investor's investment decision-making In early stage companies and compare importance.

• Management & Information Systems Review
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• v.31 no.4
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• pp.261-286
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• 2012

Rumors are widely prevalent in marketplace and It can be problematic and dangerous for the company's reputation and damages their image. Recently, many companies are given trouble by rumors. As getting invigorates the social media, there is high possibility to shape the vicious rumors without any confirmation whether information is true or not. It affects the companies' reputation and trust they have built for long time, also sales drop off. Despite numerous denials, the rumor persisted, keeping occur again and again all the times. Refutation purposes to decrease levels of belief in a rumor. First, establish Study 1 that a variation in identification influences the impact of a rumor on individuals' beliefs. Furthermore, we analyze the effectiveness of a refutation under varying degree of one's level of identification with the rumor object. According to research result, the response pattern of identification and disidentificaion consumers are very different. Disidentifiers, who engaged in systematic processing, believed the rumor less only when the refutation contained strong arguments. Identifiers, processing heuristically, remained unbelieving in the rumor. Study found that identification is an important moderator of consumer response to negative rumors. These defensive processes alleviate the bad influence of that information, and also can reduce the likelihood of attitude degradation.

• Management & Information Systems Review
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• v.30 no.4
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• pp.45-71
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• 2011

This study aims at reviewing the effect of the non-verbal communication of salespersons at service encounter on customers' non-verbal communication and responses. The previous studies overlooked the correlation between salespersons' non-verbal communication and customers' non-verbal communication at service encounter, although non-verbal communication of salespersons has potentialities evoking customers' non-verbal communication and emotional responses in various ways. If it is a salesperson who a customer first encounters within a shop, the non-verbal communication of salesperson affects his/her non-verbal communication and these non-verbal communication affect his/her emotional responses, and these emotional responses affect his/her behavior. This phenomenon is based on the theory of emotional contagion, mimic, and face feedback. Therefore the non-verbal communication such as greetings, postures and eye-contact manners through the personal interactions between salespersons and customers, can be said to be an antecedent variable which affects the positive responses of customer. As a result of the study, the kinesic of salesperson's non-verbal communication was found to affect customers' non-verbal communication, and customers' non-verbal communication affect emotional responses experienced at service encounter, and customers' positive emotion affect customers' behavior responses. This result provides an opportunity which makes one turn eyes on salespersons' non-verbal communication at sales encounter both practically and scientifically, through introducing salespersons' non-verbal communication as an important factor which can enhance customers' positive responses but has been passed over by the previous studies.

• Journal of Korea Port Economic Association
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• v.32 no.2
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• pp.123-135
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• 2016

This study uses Data Envelopment Analysis(DEA) to investigate the management efficiency of Korean shipping companies based on business administration costs such as corporate entertainment, advertisement, and labor costs. We analyze shipping enterprises listed on the Korean stock market of the period of 2010-2014. Corporate entertainment, advertisement and labor costs are used as input variables and sales and net income are used as output variables. We use technical efficiency, pure technical efficiency, scale efficiency and returns to scale to propose a plan to improve the efficiency of inefficiency decision-making units (DMUs). The results of the efficiency analysis show that six of the DMUs in the technical efficiency of CCR model and eight of the DMUs in the pure technical efficiency of BCC model are in efficient state. In terms of return to scale, six of the DMUs(24% of all DMUs) show increasing returns to scale, while 13 DMUs(52% of all DMUs) showdecreasing returns to scale. Because multiple efficient state for DMUs exist in the technical efficiency analysis, we conduct a super efficiency analysis. The results show that the efficient state of the twomost efficient DMUs are 1.314 and 1.243, respectively. This implies that these DMUs could maintain their current levels of the efficiency if they increase the amount spent on advertisements, corporate entertainment and labor costs by 31.4% and 24.3%. respectively. We conclude this study by providing the efficiency states of each DMU and target for improving the inefficiencies in each case.

• Korean Journal of Construction Engineering and Management
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• v.15 no.2
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• pp.104-111
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• 2014

Due to the structure of advanced installment sales of houses which is a construction industrial structure unique to Korea and the Project Financing (PF) project structure that includes construction companies' debt guarantee agreements, the changes in accounting methods resulting from the introduction of K-IFRSs are expected to act in a direction to deteriorate construction businesses' financial statements. Therefore, K-IFRSs are an important issue that can seriously affect the entire domestic construction industry and construction businesses are conceiving strategies to respond to the introduction of K-IFRSs. From this viewpoint, this study was intended to empirically analyze the effect of the introduction of K-IFRSs on construction businesses utilizing financial data applied with the K-IFRSs recently announced. In the analysis, the EDFs were calculated by business using the existing accounting standards GAAP and using K-IFRSs and the results were compared with each other. The results of the analysis indicated that most construction businesses were adversely affected by the introduction of K-IFRSs. It is also considered that businesses with relatively good financial statements under the existing accounting standards GAAP would be affected more by the introduction of K-IFRSs than other businesses. In addition, the introduction of K-IFRSs is expected to have larger effects on large construction businesses that have been providing debt guarantees for PF projects than on small or medium sized construction businesses.

• Korean Journal of Construction Engineering and Management
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• v.9 no.4
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• pp.173-181
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• 2008

Last decade, Korea's export scale has resulted in remarkably increasing tendency, and the Korean construction firms(KCFs)' activities on the global markets also have been revitalized. Therefore, this paper analyze a correlation between changes in the oversee market conditions and firms' competitiveness focused on plant business. The aim of this paper is to analyze the internal competency change of the KCFs on the global markets in the past 5 years and to find gap of internal competencies between KCFs and outstanding foreign firms. From a survey analysis this paper found that the external impacts on the global markets(changes of exchange rates, raw materials prices, supply-demand conditions, etc.) have highly influenced the sales amount of the KCFs. But the impacts to change the operating profit have been analyzed as not important. So it is necessary to reinforce the KCF's internal competencies rater than expecting an improvement of the external conditions. Also, the KCFs should strengthen the design engineering as a core competency.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.4
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• pp.135-142
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• 2017

This study employs an analytical mathematical model to estimate the optimal debt ratio of Korean agricultural corporations, more sensitive to the government debt ratio policy compared to other industries, and the estimation of the optimal debt ratio based on objective data. The analytical model utilizes the equation for ROE, with the debt ratio as an independent variable, and related parameters include ROS, TAT, and NFCL. Regarding the NFCL, the optimal debt ratio standard is defined as the debt ratio that maximizes the ROE by analytical procedures such as adding an equation concerning the debt ratio and a linearity relationship to the analytical model, and from these equations, a quadratic equation with the debt ratio as an independent variable describes the ROE. This methodemploys fourteen years of corporate data. Results show that 138% of debt ratio is the optimal debt ratio to increase the ROE of the corporations, which implies that the existing debt ratio of Korean agricultural corporations is higher than optimal. Consequently, it is required for authorities to change future debt ratio policies in view that the purpose of debt ratio management is to maintain safety and increase profitability.Management should emphasize characteristics of the specific industry rather than standardized judgements based on numerical indexes.

• Journal of Distribution Science
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• v.4 no.2
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• pp.21-40
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• 2006

Small and middle sized Franchise system channels experience conflicts because of constant interaction between franchiser and franchisee. However, it is rarely that attempt has been made to identify causes of conflicts in distribution of franchise industry. The purpose of this study was to explore cause of conflicts from the franchisee. For the study, data were collected from the owner or the shop-manager with a contractor in franchise systems. By means of in-depth interviews with multiple informants, their statement was analyzed qualitatively. From analysis of the resulting data, the causes of conflicts were associated with two broad sets, attitudinal and structural differences between franchisers and franchisees. First, attitudinal sources of conflict were identified as perception of subordinated relationships between channel members, delayed announcement on order changes, difficulties in communication by doing irresponsible behavior, different expectations between channel members in market territory and lack of consistent-supporting. Second, structural sources of conflict involved unilateral decision on interior, payment method, unreasonable delivery issue, treat franchisee with discrimination by the sales, in controlling against free management. There are limitations on generalization due to the results based on interview, but this study will be a useful exploratory step before designing a large scale survey.

• Journal of agriculture & life science
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• v.43 no.2
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• pp.39-46
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• 2009

Ten animal hospitals in Seoul were selected, and of which 41,305 practice in total for recent 1 year were analyzed based on international classification of disease(ICD) of WHO. Of the entire practice, prophylaxis cases accounted for 42.2%. Of the 9,376 cases of internal diseases, digestive system diseases accounted for 4,957 cases(52.9%), respiratory system diseases 1,776 cases(18.9%), circulatory system diseases 1,239 cases(13.2%), and neoplasms diseases 413 cases(4.4%), respectively. In the estate investment expenses, to be specific, rental guarantee deposit accounted for about 50% of the entire estate cost, foregift(48%), and monthly rent(2%). Dividing the income of animal hospitals into medical service, articles selling, and pet-dog beauty, medical service accounted for 71.6% of the entire sales, selling of articles 16.7%, and pet-dog beauty 11.6%. Publicity work for the animal hospital was done mostly through web sites on internet(47%), then through local advertising papers(23.5%), and through bulletins and telemarketing(11.8%). Manpower of the animal hospitals in this study was mostly composed of veterinarians(45.5%) up to about half of the entire staffs, while there was no veterinary technician who had specialized education in that area.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.1
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• pp.419-425
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• 2019

The objective of this study was to investigate the cooling performance characteristics of a hybrid refrigeration system in a heavy duty vehicle. The tested hybrid refrigeration system had additionally an electric compressor besides the present mechanical compressor for selective use according to the operating conditions. The applied electric compressor was a scroll type and with 18.0 cc displacement. In order to analyze the performance characteristics of the hybrid refrigeration system with respect to the cooling capacity and Coefficient of Performance (COP), other components, including two different types of compressors, were installed and tested under various operating conditions such as compressor speed and air flow rate of the evaporator. When the electric compressor was operated at 4,500 rev/min, the cooling capacity was about 4.0kW and COP was 3.5. When the mechanical compressor was operated, whereas the cooling capacity was higher than the electric controlled compressor, COP was lower due to the larger displacement and higher power consumption. To analyze the hybrid system operating characteristics due to reasonable cooling capacity with electric compressor operation, the mechanical compressor and electric compressor were operated by turns every 10 minutes under certain system operating conditions. Because surge pressure occurred when both compressors were switched on, the operating strategy required some time to balance the system pressure.