• International Area Studies Review
• /
• v.14 no.2
• /
• pp.107-129
• /
• 2010

This study does the logistic regression analysis in a survey how Korean Small and Medium Enterprises(SMEs) recognize the effects of the Korea-India Comprehensive Economic Partnership (CEPA) on their business activities and strategies. The results show that Korean SMEs which have relatively more employees and bigger size in terms of sales have interest in the Korea-India CEPA. In particular, the SMEs which are engaged in their business activities with India have more interest in the CEPA than those that have not any business relations with India. However, the results show that they will not enter or expand their business fields in India even though the CEPA starts. It implies that Korean SMEs recognize that the CEPA will not affect their business significantly. Thus, this study has a policy implication for government to adopt/establish policies for SMEs utilizing the CEPA. It includes information services about the CEPA, India markets, a political corporation between the Governments for improving the partnerships in the trade and FDI and so on.

• Journal of Digital Convergence
• /
• v.19 no.3
• /
• pp.65-79
• /
• 2021

The purpose of this study was to research how emotional factors affect decision-making on the maintenance and abandonment of a patent, and to present new criteria for patent policies. The types of Korean patent abandonment were analyzed according to the patent holding period, and a questionnaire survey was carried out to verify whether there are differences among patentees in terms of sunk cost bias, endowment effect, and coupling or not. Individuals and small and medium-sized enterprises showed relatively greater emotional bias toward sunk cost and endowment effect than large companies, and the sunk cost effect decreased as decision-making experience increased. In addition, the reduction in the payment cycle of the patent renewal fee has a positive effect on the increase in the willingness to use the patent right, and the individuals and small and medium-sized enterprises has a greater synergistic effect than the case of large companies, in particular. This study are expected to play a part in establishing policies to minimize wasteful factors of patent assets based on the propensity of the patentees.

• Journal of Digital Convergence
• /
• v.19 no.11
• /
• pp.235-246
• /
• 2021

This study analyzed the effects of SMEs' open innovation capabilities and organization capabilities to lead these innovations on corporate performance. For this purpose, an empirical analysis was conducted targeting 250 small and medium-sized enterprises(SMEs) employee. The empirical study results are as follows. Absorptive capability, relational capability, CEO's innovativeness, employee's innovativeness, and decision-making openness had a significant positive (+) effect on the non-financial performance of SMEs. It was analyzed that multiplicative capability did not significantly affect non-financial performance. On the other hand, absorptive capability, relational capability, CEO's innovativeness, and decision-making openness had a significant positive (+) effect on the financial performance of SMEs. It was analyzed that multiplicative capability and employee's innovativeness did not significantly affect financial performance. Decision-making openness and absorptive capability were analyzed as factors that have an most important influence on a company's financial and non-financial performance. Based on these research results, academic and practical implications were presented.

• Journal of Appropriate Technology
• /
• v.7 no.2
• /
• pp.196-205
• /
• 2021

As industrial safety increases, various industrial accident prevention technologies using smart factory technology are being studied. However, small and medium enterprises (SMEs), which account for the majority of industrial accidents, are having difficulties in preventing industrial accidents by applying these smart factory technologies due to practical problems. In this study, customized monitoring and warning systems for each type of industrial accident were developed and applied to the actual field. Through this, we demonstrated industrial accident prevention technology through appropriate smart factory technology used by SMEs. A customized monitoring system using vision, current, temperature, and gas sensors was established for the four major disaster types: worker body access, short circuit and overcurrent, fire and burns due to high temperature, and emission of hazardous gas. In addition, a notification method suitable for each work environment was applied so that the monitored risk factors could be recognized quickly, and real-time data transmission and display enabled workers and managers to understand the disaster risk effectively. Through the application and demonstration of these appropriate smart factory technologies, the spread of these industrial safety technologies is to be discussed.

• Knowledge Management Research
• /
• v.23 no.4
• /
• pp.177-205
• /
• 2022

Small- and medium-sized enterprises (SMEs) have strong incentives to engage in open innovation to enhance innovation efficiency and effectiveness due to their 'liability of smallness.' Previous research examined the performance effects of various open innovation practices, but whether coupled open innovation practices positively affect SMEs' firm performance is somewhat controversial. To resolve the issue, this study examined the effects of coupled open innovation activities on SMEs' firm performance using Heckman's two stage model to control endogeneity of the firms' self-selection bias in open innovation engagement. This study used the Korean Innovation Survey (KIS) 2020 collected by the Science and Technology Policy Institute (STEPI), and tested the effects of SMEs' coupled open innovation activities, R&D and non-R&D cooperation, on their innovative and financial performance indicators. The results showed that SMEs' R&D cooperation positively affects the new-to-market (NTM) product innovation only. Moreover, SMEs' non-R&D cooperation has positive effects on the product innovation, business process innovation, new-to-the-market product innovation, and new-to-firm (NTF) product innovation. However, the results showed that both R&D and non-R&D innovation cooperation activities have no significant effects on SMEs' financial performance indicators. This study contributes to research on SMEs' open innovation and provides insights for SMEs' managers and policymakers.

• Journal of Venture Innovation
• /
• v.6 no.3
• /
• pp.241-263
• /
• 2023

Recently, the aging of SME managers has emerged as a major issue in business succession. The smooth succession of small and medium-sized enterprises (SMEs), which are the industrial base of Korea, is becoming an important issue for enhancing the vitality of the national economy, such as job creation, beyond mere discussion of inheritance. At this point, this study conducted an empirical analysis on the factors affecting corporate succession intention. As independent variables, corporate Capability consisting of employee competency, marketing competency, and digital competency, human factors such as managers, successors, and third-party stakeholders, and institutional factors such as legislation, taxation, and trust were set. In addition, the effect of adjusting the sales scale was verified. To this end, a survey was conducted targeting representatives who are currently running small and medium-sized enterprises (SMEs). The total number of valid questionnaires was 315. Based on this, an empirical analysis was conducted using the hierarchical regression method. The results of the empirical analysis are as follows. First, marketing competency and digital competency, managerial competency and successor competency, taxation and trust had a significant positive (+) effect on corporate succession intention. However, a significant influence relationship between the third stakeholder, employee competency, and corporate succession intention was not tested. Among the factors that have a significant impact, the size of the influence was in the order of taxation, successor competency, executive competency, trust, marketing competency, and digital competency. Second, the size of sales was found to moderate the relationship between the variables that had a significant effect on corporate succession intention, that is, management competency, successor competency, marketing competency, digital competency, taxation and trust, and corporate succession intention. Based on these research results, academic, practical, and institutional implications for smooth business succession are presented.

• Journal of Family Resource Management and Policy Review
• /
• v.27 no.4
• /
• pp.49-62
• /
• 2023

In order to create an organizational culture that prevents women's career breaks and promotes economic activities, this study aimed at developing educational content for workplace culture improvement for both male and female workers working at small and medium-sized enterprises in Jeollanam-do. The core content composition and content design specifically consider the characteristics of Jeollanam-do based on an advisory meeting of the field experts and researchers to ensure the on-site utilization of the content and the validity and consistency of the teaching content. The educational content is divided into three areas: understanding, effectiveness, and the implementation of a gender-sensitive work-life balance organizational culture. The aim of the content is for all employees to understand the meaning of work-life balance and to improve the organizational culture of their company from the perspective of individuals, families, companies, and society. In particular, the intention was to personally identify and implement measures to improve a gender-equal work-life balance, not only at work, but also with regard to domestic labor and leisure time. Furthermore, the content is presented from a gender-sensitive perspective that encompasses diversity, systems, and programs targeting women, men, single people, married people, young people, the elderly, and people with disabilities - all these groups are explained as examples. The content emphasizes that we should all actively participate in improving the organizational culture of our companies. In addition, the Women's New Work Center should seek ways to increase the motivation for the voluntary participation by companies and strengthen the expertise of instructors in work-life balance education.

• Journal of Venture Innovation
• /
• v.5 no.4
• /
• pp.109-115
• /
• 2022

As the 4th industrial revolution progresses, foreign countries are promoting smart manufacturing innovation through digital transformation as a priority task early on to secure a competitive edge in the manufacturing industry. In response, the Korean government is also promoting a policy to enhance the competitiveness of small and medium-sized manufacturing companies by promoting digital transformation in the corporate sector to meet the global trend of the 4th industrial revolution era. Manufacturing powerhouses such as Germany and Japan see manufacturing as a key sector in digital transformation and are leading related policies, while emerging countries such as China are also promoting manufacturing innovation strategies such as building digital infrastructure and creating a digital innovation ecosystem. Korea is promoting the 'Korean-style smart factory dissemination and expansion strategy' by transforming Germany's manufacturing innovation strategy for smart factory supply to suit the domestic situation. However, the policy to supply smart factories so far has been conducted with support from individual companies under the leadership of the government, and most of the smart factories are at the basic level, and it is evaluated that there are limitations such as the lack of manpower to operate smart factories. In addition, while the current policy focuses on expanding the supply of smart factories in SMEs, it is necessary to establish a smart manufacturing system through linkages between large and small businesses in order to achieve the original goal of establishing a smart manufacturing system. Therefore, it can be said that from the standpoint of small and medium-sized enterprises (SMEs), who are consumers of smart factories, it can be said that the digital transformation policy can achieve the expected results only when appropriate incentives are provided for the introduction of smart factories in a situation where management resources such as funds, technology, and human resources are lacking. In addition, it is judged that the uncertainty of the performance of digital investment always exists, and as long as large and small companies are maintained as an ecosystem of delivery and subcontracting, there is very little incentive for small and medium-sized manufacturing companies to voluntarily invest in or advance digital transformation. Therefore, the digital transformation policy of small and medium-sized manufacturing companies in the future has practical significance in that it suggests that there is a need to seek ways to attract SMEs' digital-related voluntary investment.

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

• The KIPS Transactions:PartB
• /
• v.13B no.5 s.108
• /
• pp.507-514
• /
• 2006

Various application systems are developed using RFID as a part of ubiquitous computing, and it is expected that RFID chip will become wide-spread for the distribution industry especially. Efficient and efact intelligent-type of warehouse management system is essential for small-to-medium-sized enterprises in the situation having a trouble in the viewpoint of expense and manpower. In this paper, we implement small-scale warehouse management system using log-based context awareness technology. This system is implemented to be controlled on web, configuring clients to control RFID readers and building up DBMS system in a server. Especially, it grasps user's intention of storing or delivering based on toE data for the history of user's access to the system and it reports user's irregular pattern of warehouse use and serves predictive information of the control of goods in stock. As a result, the proposed system can contribute to enhance efficiency and correctness of small-scale warehouse management.