• Proceedings of the Safety Management and Science Conference
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• 2009.11a
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• pp.601-616
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• 2009

Small & Medium construction firms have been faced with demand of environmental changes. construction firms have been required to improve their structures to reinforce the competitiveness. so, these firms are making desperate efforts, which are reorganization, renovation, improvement. this study would be emphasized the Quality Management in construction work. For this, It must be supposed a plan to improve a construction organization. The Construction Firm would be executed Quality Management learning, leadership, understanding of Quality Management to construction workers.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.546-575
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• 2017

This paper investigates the effects of public R&D support on medium-sized firms' R&D investment. The paper collects a panel dataset of Korean manufacturing firms' R&D investment and public support, and employs the DID (difference-in-differences) regression for the test of stimulating or crowding-out effect. Empirical analysis examines how the effect of public R&D support differs between small and medium-sized firms and whether firm size and technological capability moderate the effect in the sample of medium-sized firms. Empirical results show that public R&D support tends to generally stimulate private pure R&D investment for both small and medium-sized firms. Comparing the results for small and medium-sized firms, this paper finds that the stimulating effect is relatively larger and more significant for medium-sized firms, while the effect is not significant for small ones. Furthermore, the paper shows that the stimulating effect of public R&D subsidy on private R&D investment is relatively stronger for medium-sized firms with superior technological competence and the effect of tax support is greater for incompetent firms. These results suggest that public R&D policies and R&D programs, differentiated from those for existing small firms, are necessary for medium-sized firms to stimulate private R&D continuously and formulated carefully by considering firm size, technological capability and growth potential.

• Asia pacific journal of information systems
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• v.5 no.1
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• pp.186-218
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• 1995

The necessity of installing well adaptable Information Systems are required day by day in all the fields of business management. This paper provides an Information System development for enhancing competitive power of the small and medium-sized firms in Korea. Recent growing Information Technology leads to constructing invisibly some new adaptable Information Systems in accordance with the business size, level, capacity and requirements. Even though some advanced companies and big enterprises are already operating their own appropriate Information Systems so as to get their remarkable productivity at a moment. The rest of those small firms are still trying to find out some proper systems fitting their own business in very poor situations. The basic requirements of the points of views by mail questionaired and interviewed from 1292 small and medium-sized manufacturing firms reflected on this Information System development. As a result, the study introduces some economically efficient, convinient, flexible and useful applied Information Systems with simple methods.

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2001.05a
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• pp.99-113
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• 2001

Small firms think that it is for the best to use information technology to survive and grow in current business environment. Recently, the importance of using information technology to be a high and competitive company in the world has been recognized by small firms facing difficult business situations. To roll with the punches of recent crisis and meet customers'specifications, much attention is being aimed to using information technology. Many studies have shown that using information technology is a key to competitiveness. But small firms have trouble using information technology and building a very excellent and efficient computerization by many factors such as funds, technology, and human resource. So, this study is focusing on where the difficulties of local small firms getting under way of using information technology come from and finding out the relationship of using information technology characteristics, difficulties, and performance.

• Management & Information Systems Review
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• v.7
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• pp.169-186
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• 2001

The strategic management for Innovation and competetion of small and medium firms is practical innovation strategic of cost down and sales increace. Framework of the strategic management for thr forecast of changed industry and formal competetion. Practice and planning to the small and medium firms for innovation, cost down, sales increace, revolution management, etc. The results of study are as follows ; 1) study of pre-model for innovation and competetive advantage. 2) Draw of the creative factor for industrial structure analysis, cost advantage analysis and competetive advantage. 3) Exhibit of the practice model for strategic management approach. 4) Application and modification to the small and medium firms for results of study.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.137-148
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• 2021

The study investigates the existence of an optimal level of cash and the firm characteristics influencing the decision to hold cash, and the adjusting speed of the cash holdings to the target level. It highlights the heterogeneity of cash adjustment speed in the Vietnam market. The research employs the 417 samples of Vietnamese non - financial listed firms in the period of 2010 to 2019. The study uses the Pool OLS model, Fixed effect model (FEM), Random effect model (REM), and GMM model. According to the research findings, there is an optimal amount of cash at which the firm's value is maximized in Vietnamese listed firms, and the majority of the firms in the sample retain cash over the target level. Furthermore, the study demonstrates that firms actively modify their cash holdings to the optimal level with an adjustment speed of less than one owing to adjustment cost constraints. This speed varies between groupings of enterprises with different characteristics, underlining the heterogeneity of the adjustment speed even more. Small deviation firms adjust more rapidly than large deviation firms. Large free cash flow (FCF) firms adjust more readily than small FCF firms, and fiscal deficit firms modify more rapidly than firms with a financial surplus.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.152-156
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• 2008

This study examines the relationships between R&D investment and Market value of Firms using data of small and medium enterprises (SMEs) in the manufacturing sector of Korea. In particular, this paper investigates the role of technology innovation system in the impact of R&D investment on firm's Market value of Firms. Findings from the previous studies on the relationship between R&D investment and Market value of Firms are positive relationship. Main of the previous studies demonstrated a positive impact of R&D investment on Market value of Firms. On the other hand, some recent studies showed this is not the case. Those studies persisted that the technological innovation system for managing and efficiently utilizing R&D investment and capability has to be built in order for R&D investment to give rise to increases in Market value of Firms. According to the Oslo manual by OECD, it is assumed that a technology innovation system can becharacterized as three factors :capability for technological innovation, capability for technology commercialization, capability for technological innovation management. This study divides sample firms into two groups using the "Inno-Biz" certificate system of the Korean Small and Medium Business Administration (SMBA): Inno-Biz firms Vs. Not Inno-Biz firms. The system selects innovative SMEs denoted as "Inno-Biz" using the above factors as criteria. The results revealed that the technology innovation system has the moderating effect to R&D investment on Market value of Firms.

• Journal of Agricultural Extension & Community Development
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• v.12 no.2
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• pp.163-172
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• 2005

Since the financial turmoil in 1997, both the national and local governments have initiated a variety of policy measures to support small and medium-size firms to strengthen the national and regional economies. It is no doubt that such policies contributed to establish better business environment for them. However, many analytical reports and academic studies in recent years diagnose that the economy conditions for the small and medium-size firms are in crisis because many policy measures are made based on the supply-side approach rather than demand-side consideration. In order for the governments' efforts to be more realistic and effective, it is necessary to see what the policy target groups(that is. the small and medium-size entrepreneurs) want. This study surveyed entrepreneurs in Hwaseung city, Kyonggi-do, which has more than three-thousands of small and medium-size firms. It finds that in spite of locational advantages and a variety of policy supports from the provincial and local governments, they need more financial supports, more effective mass transportation system for commuting workers. less bureaucratic barriers, and so on.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.3
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• pp.33-60
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• 2007

This study alms to analyze the entrepreneur characteristics of founder on enterprise performance from the strategic viewpoint as well as features of founder of small firms such as background feature of founder, psychological features and management skill. As considered by Background features of founder include educational background of founder, his experience in business creation, consultation or course related to business creation. This study verified the effects of factor which business performance (financial, non financial) on small firms. Also, this study considered psychological features of founder include achievement desire, risk-free propensity, level of patience on vagueness and control position. And it analyzed that between such factors and performance of small firms were examined in related. In the mean time, management ability of founder, entrepreneur ability, technical and function ability were considered for management skill of founder and alalyzed effect of the factors on performance of small firm were examined. Effects of strategic intention of founder of small firm were analyzed by the strategic viewpoint. At this time, strategy of small firm was divided into product-service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy. This study distributed questionnaire on CEO of small firms in Daejeon and Chungnam area for accomplish the study objective and it collected a total of 145 copies of questionnaires. As a result of analyzing collected questionnaire, this study deduced the following study results and suggestions. First, results different from those of existing studies were found Since sales, net income and profit rate of small firm were not high cause economic depression on the whole. Second, entrepreneur ability was found to be required for success of business creation. Entrepreneur ability of founder was the factor that affects both financial and non - financial performance of small firm. As such, entrepreneur ability can be regarded as the most important factor for success in business creation of small firm. Accordingly, entrepreneur ability is the most important source for success in business creation of small firm. Third, strategy of small firm was found to be the important factor that affects the non-financial performance even if it could not give significant effects on financial performance. Thus, product service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy have significant effects on non - financial performance of small firm. Accordingly, it is required to operate small firm with strategic mind - set for small firm to achieve success. This study analyzed the effects of feature of founder and strategy of small firm on business performance of small firm through practical analysis on small firms in Daejeon and Chungnam area, and deduced meaningful results. However, Since this study collected data on small firms in Daejeon and Chungnam only, there is a limit in generalizing the results of this study to all small firms in Korea. Companies answering to this questionnaire process were mainly wholesale and retail service companies. In addition, there is a limit in that it failed to analyze feature of representative type of industry due to limit in number of sample, it is required to divide representative type of industry and to compare and analyze types of industry in future studies.

• Journal of Distribution Science
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• v.12 no.10
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.