• 한국벤처창업학회:학술대회논문집
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• 2006.11a
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• pp.275-299
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• 2006

This study aims at examining the early-stage financing scale for entrepreneur to build small & medium business. The data was collected from the DART (Data Analysis, Retrieval and Transfer System) of Korean Financial Supervisory Service(FSS) in the main. The results of this study show that small & medium business needs equipment & operation financing for about 37 months extent to reach Break-Even Point. The limitations of this study are data collections from registered firms on Korean FSS primarily and no showing about the early stage financing scale for building small & Medium Business concretely. Small & Medium business entrepreneur have to make a early stage finance plan according to a necessary equipment and operating cost in their business field for 37 months extent.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.34 no.4
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• pp.42-48
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• 2011

This paper proposes performance measurement method of quality small-group activity in business. This paper collects and analyzes quality circle activities data respect to tangible and intangible effect in national quality circles competitions festival. This paper proposes QPI (quality-circle performance index) based on Balanced Scorecard for quality small-group activity in quality improvement area. QPI is to measure the performance of quality improvement activities in the business firms. QPI is able to use widely in industries to provide a performance measure of quality small-group activity. In this paper, we propose the application method of QPl.

• Journal of the Korean Society of Safety
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• v.24 no.4
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• pp.59-65
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• 2009

This paper presents the safety performance of domestic small-sized construction companies including the characteristic and current status of safety management actions of the firms. Safety performance both at the head office and job sites of each construction companies, which are divided two groups by construction capacity ranking, are investigated. The investigation results on the small-sized construction companies in this study was compared with those of on the large and medium-sized construction companies studied in existing papers. General recognition that there is a wide difference of safety performance among domestic construction companies by construction capacity ranking was companies by this study. Especially, Data analysis shows that the safety performance of the small-sized companies has the larger difference than large and midium-sized companies.

• Journal of Intelligence and Information Systems
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• v.26 no.3
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• pp.51-69
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• 2020

Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

• Journal of the Korean Geographical Society
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• v.38 no.3
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• pp.400-412
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• 2003

It is now widely recognized that new Information and Communication Technologies (ICTs) have been changing the way tv which firms conduct their businesses. Examples are the application of enterprise resources planning (ERP) and business process reengineering (BPR) to increase the efficiency of internal resources management, adoption of Business-to-Business e-commerce (B2B e-com) to integrate supply chain, and invention of new marketing channels such as Business-to-Customer (B2C) e-com. These new ways of conducting businesses are believed to help firms to reduce transaction costs and increase productivity. As a result, new ICTs have played an important role in recent growth of many small firms into multi-functional and multi-product corporations and in their spatial expansion towards internationalization as well. This paper takes Haier in China as a case to study the role of new ICTs in the growth of firms and reveal how the new technologies have facilitated the expansion of Haier into a transnational corporation (TNC) by examining the internationalization process of the firm in relation to its adoption of new ICTs in the period from 1990 to 2002. The study reveals that the adoption of new Ins has helped Haier to integrate its functional units located in dozens of places across the world, which is essential to the internationalization of a firm, and to link closely together its worldwide suppliers and customers to achieve just-in-time (JIT) production and delivery. As such, the authors of the paper argue that, without the facilitation of new ICTS, Haier could not have developed into a TNC in less than ten years.It is now widely recognized that new Information and Communication Technologies (ICTs) have been changing the way tv which firms conduct their businesses. Examples are the application of enterprise resources planning (ERP) and business process reengineering (BPR) to increase the efficiency of internal resources management, adoption of Business-to-Business e-commerce (B2B e-com) to integrate supply chain, and invention of new marketing channels such as Business-to-Customer (B2C) e-com. These new ways of conducting businesses are believed to help firms to reduce transaction costs and increase productivity. As a result, new ICTs have played an important role in recent growth of many small firms into multi-functional and multi-product corporations and in their spatial expansion towards internationalization as well. This paper takes Haier in China as a case to study the role of new ICTs in the growth of firms and reveal how the new technologies have facilitated the expansion of Haier into a transnational corporation (TNC) by examining the internationalization process of the firm in relation to its adoption of new ICTs in the period from 1990 to 2002. The study reveals that the adoption of new Ins has helped Haier to integrate its functional units located in dozens of places across the world, which is essential to the internationalization of a firm, and to link closely together its worldwide suppliers and customers to achieve just-in-time (JIT) production and delivery. As such, the authors of the paper argue that, without the facilitation of new ICTS, Haier could not have developed into a TNC in less than ten years.

• Journal of the Korean Regional Science Association
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• v.9 no.1
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• pp.79-99
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• 1993

This paper identifies the mechanisms governing the industrial location changes in Korea by focusing upon the emergence of the country's large conglomerate business organizations (chaebols). As the country has distinctive industrial organization, production systems, and government-business relations, this study tries to develop an ideal conceptual framework for the analysis of industrial location changes in Korea. It perceives the Korean economy as a system within which 'space-organizing', lage business organizations interact over time with government, smaller firms and multinational corporations at different geographical scales. The usefulness of the model is assessed using a case study of Korea's most representative chaebol, the Samsung Group. This study identifies chaebols as the dominant institutions in Korean society. Their growth and business strategies have been influenced by the Korean Government through its power to allocate capital resources. Regional dynamics of industry and labor, therfore, have been strongly influenced by changes in the location, industrial structure, and production system of chaebols. With econmic power concentrated within a few giant business groups and their major areas of operation restricted, unbalanced regional development has resulted. Dissatisfaction from residents in less-developed areas has pressured the Government to advise chaebols to disperse their production facilities. Most small and medium-sized firms are closely linked to large corporations through subcontracting. By forming hierarchical subcontracting. By forming hierarchical subcontracting systems, chaebols have indirectly exploited scattered, part-time, home-based, female and lower-paid laborers organized by subcontractors. Further, chaebols have expanded their business arena to encompass overseas locations in a bid to overcome the problem of a small domestic market, trade regulations and increased market, trade regulations and increased labor costs. Through their international business networks Korea's local and regional economies are integrated into the world economy. Indeed, the identification of the changing relationships of chaebols with both the Korean Government and smaller firms is the key to explaining the nations's spatial dyanmics of industry and labor.

• Journal of Korea Technology Innovation Society
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• v.14 no.4
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• pp.711-735
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• 2011

This study examines whether firms' openness to external knowledge improves their innovative performance and what factors make openness more effective in generating innovation. Using 2008 Korean Innovation Survey in manufacturing sector, this study tests whether openness improves innovative performance and how absorptive capacity, small size and use of appropriation methods to a high degree influence the effect of openness on innovation in Korean manufacturing industries. This study finds the followings: First, the effect of openness varies depending on type of innovation. Openness is more effective for incremental innovation than for radical innovation. Second, there exists complementarity between openness and the R&D intensity when innovation is incremental. When the R&D intensity level is high, the effect of openness on incremental innovation is stronger than on radical innovation. Third, openness is more effective for small firms to perform radical innovation than incremental innovation. Fourth, when a firm uses appropriation methods to a high degree, openness is not effective for incremental innovation.

• The Journal of the Korea institute of electronic communication sciences
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• v.12 no.6
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• pp.1071-1080
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• 2017

Recently, the terms of the 4th Industrial Revolution and the Smart Factory are often heard through news and media. But most of the companies that are parties are not interested. Because there is no specific guidance on how to build Smart Factory and information about Smart Factory. The built of the Smart Factory should be carried out in accordance with the size of the company considering the purpose of the introduction. In the existing study, they analyzed successful cases of building Smart Factory in Korea As a result, in the case of large-size firms, it is an effective strategy that expanding from a model factory to whole factory for successful Smart Factory building. In addition, in the case of medium and small-size firms, it is an effective strategy that upgrading from low-level step to high-level step for successful Smart Factory building. In this study, selecting medium and small-size firms, and bottleneck section and processes requiring improvement are identified through 3D virtual process design, and then install sensors. Finally, after analyzing the data collected through the sensor, we will improve the process and build Smart Factory with improved productivity.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.57-89
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• 2016

This paper used individual establishment level data to estimate the effects of government support for the research and development of 'small and medium enterprises'(SMEs). We analyzed, on the establishment level, the degree of technical advancement, strength of private R&D incentives, and the effect on employment levels of firms which participated in the 2010 government R&D support project. The results of this study are as follows. First, the size and frequency of government investment in the R&D of SMEs were both positively correlated with the amount of patent registrations. Furthermore, we found that the amount of patent registrations were positively correlated with the size of the establishments, but the average level of technological advancement for the firms running the research was lower than the average level of technological advancement for the firms merely participating in the project. Second, the government's R&D policy was found to be complementary to private R&D incentives, and a 1% increase in government R&D investment resulted in an inelastic increase (0.193~0.245%) of the firms' post-program R&D spending. Third, we found that R&D support from the government contributed to an increase of employment by the participating firms. Additionally, we found that the impact of R&D support on job creation varied for the firm size and technological characteristics. Therefore, it is important for governments to take into consideration each type of small business, when setting R&D policies.

• International Area Studies Review
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• v.13 no.3
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• pp.527-549
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• 2009

This paper investigates the relation of invert U-shape between the M/B ratio and leverage ratio by market, firm size, and a level of technology of firm. Our sample consists of 510 manufacturing firms continually listed on the Korea Securities Market and Kosdaq Market from January 1, 2001 to December 31, 2008. The total sample consists of the Korea Securities Market(large firms, high technology industry) sample of 2,248(1,816, 1,704) observations and the Kosdaq Market(small and medium firms, high technology industry) sample of 1,632(2,264, 2,376) observations. The empirical results show that the relation of invert U shape appears on the sample of the Kosdaq Market, small and medium firms, and high technology industry. However, the relation doesn't appear on the sample of the Korea Securities Market, large firms, and low technology industry. These mutually different results may be caused by the relatively low M/B ratio of the latter.