• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.661-670
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• 2020

This paper investigates the influence of the economic integration exemplified by the Eurasian Economic Union on the entrepreneurial ecosystem in the Kazakhstan corporate sector. Using data collected from 204 small-, medium-, and large-sized Kazakh companies, the researchers analyzed the collected data with percentile. Findings of this study show that small- and medium-sized enterprises, especially in the tertiary sector of the Kazakh economy, are not that much affected by regional integration, whereas large firms have been significantly impacted. The originality of the paper is threefold. First, the research explores the entrepreneurial ecosystems in its focus on geographic location or digital technologies that came across mainly from the ICT space. This is becoming pervasive across mechanical systems, communications, infrastructure, and the built-up environment. Second, the originality of the paper lies in focusing on the entrepreneurial ecosystems' influence on the business processes by clearly understanding the regional, national, and international trends in different markets. Third, the paper is first of its kind to contribute an updated perspective on the entrepreneurial ecosystem's influence on economic integration to the policymakers of Kazakhstan. Policymakers will gain expertise on how to manage network effects while planning investment projects, as well as transactions, modes, and fixed nodes, acquisition, and greenfield investments.

• Journal of Korean Society for Quality Management
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• v.46 no.4
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• pp.843-862
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• 2018

Purpose: The purpose of this study was to develop quality innovation techniques specialized for the small and medium-sized businesses. which account for the majority of Korean companies, were having a hard time utilizing the widely recognized quality innovation techniques due to resource constraints. Methods: First, we do review the existing Single PPM and 6 Sigma. And investigate the utilization of these methods including Toyota Production System. Second, we devised a four-step problem-solving methodology based on recent trends in quality innovation such as Simple, Speedy, and Smart. Third, we do survey on frequently used tools for quality innovation. Many opinion leaders including quality consultants and professors answered and gave us valuable comments about our selected quality tools. Finally, we do specify and map tools to each step of PASS. Results: In 2017, 167 companies participated in the quality innovation support business for small businesses according to the Korea Chamber of Commerce & Industry. We conducted performance checks on 167 companies that had completed the "PASS" projects. For the purpose of evaluating improvement performance, the survey was carried out using a structured questionnaire during the field visit of these companies mentioned above. For the reference, 165 out of 167 companies (98.8 % response rate) responded to the questionnaire and conducted performance analysis based on it. According to the survey, 97.6 percent of the respondents were very satisfied with their overall satisfaction with the quality innovation support projects for small and medium sized enterprises in 2017. Also, 93.3 % of the respondents were satisfied with the results of level of the target achievement. As a result, 160 companies (97.0 % of the participating companies) hope to partic ipate in the quality improvement project using "PASS" once again. Conclusion: In this paper, we introduce the new quality innovation methodology, which is named as 'PASS', It could support the long-range business plan of the small and medium-sized businesses to achieve total customer satisfaction resulting in increased market share and improved profit margin. The most small companies can use this "PASS" technique more easily, quickly and most efficiently than their existing known quality innovation techniques such as Six Sigma and Single PPM, etc.

• International Commerce and Information Review
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• v.11 no.4
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• pp.153-182
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• 2009

This paper intends to increase the performance of export support programs for small-to-medium sized firms promoted by Korea government. A research construct is suggested for effective government support program targeted on the global marketing capability. The data is collected from the firms received the support more than once by Korean governments. The results are shown as follows. First, it is found that those firms who have high propensity to be involved in export business have shown high performance. Second, the firms with high global marketing capability have shown good performance. To be more specific, organizational commitment, strategic initiative, business differentiation, and market knowledge for target markets are found to be critical factors in successful export support program. The business differentiation strategy in target market is very critical. Finally, the degree of program management effectiveness is found to be important in high performance firms. It means that for those firms, much more advanced programs need to be developed. The government should develop diversified programs by considering the degree of global marketing capability.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Journal of Digital Convergence
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• v.11 no.4
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• pp.235-241
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• 2013

In the Globalization of the business environment and the rapid technological development, the technology and intelligence are important advantages for the lack of funding SMEs, For management innovation and strengthen the competitiveness of enterprises, the information is the most efficient and powerful management tool. As a result, most of the medium-sized manufacturing firms introduction of the ERP system in order to promote the informatization. However, in reality, there are not much cases which show the tangible achievements by introduction of the ERP system. Therefore, this study searches on the Construction plan of Information Management System of the domestic small and medium manufacturing enterprises. Based on established construction method strategy Information management System apply to domestic small and medium sized manufacturing companies. In particular, information management system, that strategy was applied by considering the characteristics of SMEs and manufacturing enterprises.

• Korea Trade Review
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• v.41 no.1
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• pp.67-90
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• 2016

This study examines whether there is any significant relation between executive compensation and future firm performance for the Korean export manufacturing small and medium-sized firms. We sorted the whole sample firms into the sub-groups of 10 deciles by firm size and the KSIC standard. We found the following empirical results. First, Korean export manufacturing small and medium-sized firms typically showed lower or even negative profitability in terms of return on equity and operating profit ratio to sales. Foreign equity ownership is very low with an average of 3.77%. Second, for the firms with higher ratio of excess executive compensation to asset had lower future firm performance. It implies that the typical owner-manager in Korean export manufacturing SMEs earns excess pay, but do not contribute much to firm performance. Third, as for future cumulative abnormal returns for future one- and three-year periods, firms with higher owner-executive pay had lower returns compared with firms with lower pay. So the stock market investors set a lower value on them. Fourth, there is a positive relation between excess executive pay and executive overconfidence, and it implies that owner-CEOs with higher pay may become overconfident, thereby lowering future firm performance somehow.

• Journal of the Korea Safety Management & Science
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• v.15 no.4
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• pp.345-356
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• 2013

The purpose of this study includes: the relationships between corporate entrepreneurship(innovation, proactiveness, risk-taking) and firm performance(non-financial performance, financial performance) and the mediating effect of the self-efficacy on the relationship between corporate entrepreneurship and firm performance. In order to verify the relationships and mediating effect, data were collected from 368 individuals in employees working in small and medium-sized firms at Gyeongnam region to test theoretical model and its hypotheses. All data collected from the survey were analyzed using with SPSS 18.0. This study reports findings as follows: first, the relationship between the corporate entrepreneurship(except innovation) and the employee's self-efficacy is positively related. Second, there was also a positive correlation between the employee's self-efficacy and firm performance. Third, the relationship between the corporate entrepreneurship and the non-financial performance is positively related. The relationship between the corporate entrepreneurship(except innovation) and the financial performance is positively related. Finally, the employee's self-efficacy played as a partial mediator on the relationship between risk-taking and firm performance. The employee's self-efficacy played as a fully mediator on the relationship between proactiveness and non-financial performance. The employee's self-efficacy played as a partial mediator on the relationship between proactiveness and financial performance. However, there was no empirical evidence for the mediating effect of employee's self-efficacy on the relationship innovation and firm performance. Based on these findings, the implications and the limitations of the study were presented including some directions for future studies.

• Journal of Technology Innovation
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• v.23 no.4
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• pp.205-244
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• 2015

In response to the recent rapid technological and market changes, the importance of the design of ambidextrous organization has been increasingly emphasized as one of the dynamic capabilities. Firms that show a high performance in the rapid technological and market changes appear to design and implement ambidextrous organization successfully. They have achieved both exploitative competence for continuous innovation with product development and exploratory competence for discontinuous innovation with new market and new technologies. We have examined why and how to design and operate ambidextrous organizations and the effects of ambidextrous organizational characteristics on the performance from structural, contextual and leadership perspectives. We conducted case studies on 3 Korean firms that showed different characteristics of industrial product, company size, etc. Longitudinal case studies exhibit different processes of design and operating ambidextrous organization according to innovative strategy and industrial characteristics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.71-88
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• 2009

The Korean online gaming industry has seen rapid growth since the boom of information technology (IT) related industries, especially Internet and PC-bang or local area network (LAN) use, throughout the country. Online games are real-time games in which two or more players meet, compete, and cooperate in the same game space using the same communication network. Even though the growth rates of IT-related industries have recently slowed, the growth of the online gaming industry has increased, and Korean firms are expanding their businesses to countries all over the world. However, the online gaming industry is becoming an oligopoly, in which 4-5 leading companies occupy most online gaming markets. This situation presents a disadvantage to the Korean online gaming industry, since online players usually seek a diversity of online gaming contents and high quality online game services. Therefore, small- and medium-sized game developers must survive in this market by upgrading the quality of their online gaming services in an effort to provide differentiated goods and services in monopolistic competition markets. However, most venture companies in the online game industry, whether new or previously existing, are not able to obtain adequate financing. The objective of this paper is to examine the management environment for medium- and small-sized game developers in the Korean online gaming industry. By introducing the case of Grigon Entertainment, we try to identify the source of difficulty obtaining external financing for Korean venture firms in the online gaming industry.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.251-265
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• 2021

It seems a common sense that corporate social responsibility (CSR) is a key driver to attain business sustainability. Nevertheless, there has been little research on the performance of socially responsible activities, including economic and environmental responsibility activities in internationally diversified firms. The purpose of this study was to evaluate the effects of CSR activities on management performance. For this evaluation, an empirical analysis was conducted with a total of 2,520 cases, selected from companies listed on the Korea Composite Stock Price Index market for six years from 2013 to 2018. As proxies for management performance, financial date such as a total asset net profit ratio and a total asset-operating ratio were used. A multivariate regression analysis was conducted to test hypotheses. The results of this analysis indicated that firms in the CSR outstanding group are significantly higher than other groups in management performances. In addition, CSR activities of internationally diversified firms positively influence their total asset net profit ratio and total asset-operating ratio. The results suggested that CSR activities of these firms can play a significant role in enhancing management performances amid the economic status of Korea, where a degree of export dependency is high.