• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.81-92
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• 2022

The necessity for a theoretical explanation of the negative association between capital structure and company performance is identified in this study. By focusing on accounting metrics of business performance, this study is the first to investigate the moderating effects of firm size between these variables using logical reasoning. Due to the possibility of endogeneity, this study applies a two-step system GMM approach with data from 285 non-financial enterprises from PSX over a 21-year period. For robustness, we employed pooled OLS, fixed effect, and two-step difference GMM. Our data show that leverage has a detrimental impact on business performance, with size acting as a moderator in the same direction. Our analysis empirically supports some studies while refuting others due to inconsistent results in the literature, but no study has theoretically justified their negative link. We believe that because larger companies have more and easier access to capital markets, they focus primarily on the amount of return, even if the investment is inefficient in terms of the rate of return, but small businesses do not. As a result of this thinking, firm managers' performance suffers as a result of leverage.

• Journal of Distribution Science
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• v.20 no.4
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• pp.51-63
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• 2022

Purposes: The purpose of this study is to develop and test a possible model that investigates the relationships between green investment, CSR disclosure, social collaboration initiatives, and firm distribution performance to deal with environmental change because it's become the major stakeholder since it affects increasingly global company performance index. Research methodology: In this study a quantitative method was adopted. The 220 respondents were owners and managers of manufacturing enterprises from Indonesia. The structural equation model (SEM) was used to test the hypotheses, and the Partial Least Square (SmartPLS) was used as the data analysis tool. Findings: The study's finding shows that green investment has a significant effect on CSR disclosure, and CSR disclosure has a positive relationship with social collaborative initiatives and the firm's distribution performance. Similarly, social collaborative initiatives also significantly impact a firm's distribution performance. Limitations: This study uses variables that are still abstract and have not been able to regress the dimensions contained there into conclusion variables for each antecedent variable. In addition, this study only used a sample with a small scope, namely Central Java Province, Indonesia. Contribution: The findings of this study contribute to the body of literature in the field of organizational management and support the agency and stakeholder theories. For the practical contribution, this study provides the way to build and implement green-based investment strategies as a competitive edge and improve firm's distribution performance.

• Journal of Fashion Business
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• v.12 no.5
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• pp.155-167
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• 2008

With globalization and competitive market environment, companies realize how marketing channels are important in order to survive and succeed the business. The importance of information management among channels is getting increased, and is needed for SCM. Nevertheless having hard situation to implement SCM, SCM for textile fashion industry engaged in small business mostly is the way to break through the difficulty on so many channels to go through from fiber to retail. Therefore, the purpose of this case study to L firm by using questionnaire based interviewing method was to investigate how textile fashion small business can implement the SCM with their own differentiated strategy differed from a large corporation. L firm conducted SCM-ISN (Information Service Network) under the restructuring project. So they could use electronic bidding system via internet and have information sharing with their partners such as retailers. Therefore, they could expand market share to Seoul and reduce inventory and manage their customer more effectively than before.

• Asia-Pacific Journal of Business
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• v.6 no.1
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• pp.17-25
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• 2015

In this study, we identified the various mechanisms through which entrepreneurial orientation impacts firm performance. We proposed that entrepreneurial orientation assists organizations in building cultural, structural, human and technical knowledge capabilities, which in turn lead to sustainable competitive advantage. We tested our proposed hypothesis using data collected from 76 managers of small entrepreneurial firms. We found that cultural knowledge capabilities are the strongest mediators of entrepreneurial orientation and firm performance relationship. By bringing in knowledge capabilities in the literature of entrepreneurial orientation, we open new directions for research. Our findings have implications for theory as well as practice.

• Journal of Labour Economics
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• v.41 no.4
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• pp.63-105
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• 2018

This paper analyzes the effects of three factors on the firm-size wage premium which have not been considered in previous studies: the worker compositions within firms, the wage differentials between contractors and subcontractors, and the performance pay and rent-sharing behaviors of firms. The main results are as follows. First, even after controlling for the various worker characteristics, the differences in shares of highly educated workers, managers, and professionals between large and small firms make the size-wage premium larger. Secondly, wage differentials between contractors and subcontractors also affect the size-wage premium in the manufacturing sector. Thirdly, high performance pay and active rent-sharing behaviors of large manufacturing firms make the size-wage premium larger. These results imply that a positive matching effect among skilled workers, a structural problem between contractors and subcontractors, and differences in rent-sharing behaviors between large and small firms have affected the firm-size wage premium in the South Korean labor market.

• Journal of the Korean Society for Library and Information Science
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• v.16
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• pp.281-327
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• 1989

This dissertation is presented in two major parts. The first part presented in Chapter 3 attempts to verify the major hypothesis of the present study that the research and development laboratories(hereafter referred to R&D laboratories), establishd withine industrial firms to develop new technologies needed for their own industrial activities, may have another but very important functions to bring information on the externally generated technologies to attention of their respective management decision makers, eventually resulting in the transfer of technology; and such information functions of the R&D laboratories may be better performed by well-organised laboratories than by poorly-organised ones. The second part presented in Chapters 4, 5, 6 and 7 discusses, after the preceding hypotheses has been verified, some desirable situations of the R&D laboratories in facilitating the flow of information on new technologies developed in the world into their industrial firms, centering on the organisational positions and the major fields of interest of the person in charge of the R&D centers, services of the library and technological information office supporting the R&D laboratories, and frequencies of direct contacts of research and development workers with experts in the world and of participation in various conferences, seminars, workshops, exhibitions, etc. Now that there is no recognised instrument and method available for direct measurement of volume of technological information transfered into a particular industrial firm, the number of technologies introduced into a given firm is employed in the present study as an analogous parametre indicating volume of technological information transfered into the firm during a particular period of time. A logical attempt to justify the use of the indirect paramentre is made in Chapter two. vidences needed to verify the hypotheses of the present study are collected through the various publications of the Korea Industrial Research Institutes and other agencies and institutions related to industrial research activities, and through responses to the questionnaire posted to a sample of the 66 R&D laboratories on 6 May 1987 and returned by 30 August of the same year. Some findings and conclusions made in the study are summarised as follows: (1) More information on externally developed technologies flows into the industrial firm with a R&D laboratory of its own than into the industrial firm without one, and naturally, more chances of transfer of technologies are given to the former than to the latter (see 3. 2) (2) After establishing an R&D laboratory, more technological information flows into the industrial firm than before establishing one (see 3. 3) (3) More technological information flows into the industrial firm with a well-organised R&D laboraory than into the firm with a poorly-organised one (see 3. 4) (4) More technological information flows into the ndustrial firm where the director of its R&D laboratory has status qualified to participate in the highest managerial decision making processes of the firm than into the industrial firm where the director does not have such status (see 4. 2) (5) More technological information flows into the industrial firm where the director of R&D laboratory does not hold other positions within the firm than into the industrial firm where the director holds other positions (see 4.3) (6) There is evidence showing that quantities of technological information transfered into industriali firms vary with the case that the major background of the director of the R&D laboratory is the same as the main field of R&D activities of his or her laboratery, the case that the director's background is partly related to the field of R&D activities of the laboratory, and the case that the director's major background is different from the field of R&D activities of the laboratory (see 4.4) (7) More technological information flows into the industrial firm with the director of its R&D laboratory appointed from among professional research and development workers than into the industrial firm with the director of its R&D laboratory appointed from among general managers (see 4.5) (8) More technological information flows into the industrial firm with its R&D laboratory which has established a library service unit within its own jurisdiction than into the industrial firm with its R&D laboratory which has established a library service unit within its own jurisdiction than into the industrial firm with its R&D laboratory which uses a library within the firm but outside the laboratory (see 5. 1) (9) More echnological information flows into the industrial firm with a technological information office of its own than into the industrial firm without such an office (see 5. 2) (10) More technological information flows into the industrial firm with a large research and development staff in its R&D laboratory than into the industrial firm with a small staff in its R&D laboratory (see 5. 2) (11) More technological information flows into the industrial firm with its R&D laboratory whose staff members more frequently contact experts in the conferences, seminars, symposiums, and workshops held in foreign countries and novelties in the world's major exhibitions than into the industrial firm with its R&D laboratory whose staff members less frequently contact such experts and novelties (see 6. 2 ; 6. 3)

• Korean Management Science Review
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• v.15 no.2
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• pp.83-90
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• 1998

Today, ERP becomes very popular as a vehicle of implementing an integrated information system since this package not only facilitates reengineering but also provides the function of generating consolidated financial statements. Yet a successful introduction strategy on the integrated information system needs to be set up because ERP has weaknesses as well as strengths. The strengths include the prompt reaction to environmental changes, the integrated management of information, the adoption of open systems, and the selection of modules according to functionsl However, the weaknesses of ERP include the provision of only basic functions, the development of package on international standard processes, and possible disadvantages to small and medium-sized firms. This paper is to suggest recommendations on the implementation strategy of ERP as an integrated information system. According to the case study with Firm A that has successfully implemented an ERP package, the most significant advantage of adopting ERP was that Firm A was able to implement an integrated information system for only six months. Finally, this research generates suggestions, such as the importance of the project team structure, the sufficient amount of time for education, and the minimization of the package modification.

• Management Science and Financial Engineering
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• v.13 no.2
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• pp.99-116
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• 2007

This paper considers the value of location in a linear city model and examines the product differentiation equilibrium of duopoly providing different benefits to consumers. We show that if the value of location is small, symmetric location equilibrium occurs where two firms follow the maximal differentiation principle. However, as the value of location increases, asymmetric location equilibrium occurs where the low-value-location firm moves to the high-value-location firm and thus adjusted maximal differentiation principle holds. We also investigate two different price leadership model and demonstrate the relationship between the value of location and the role of price leadership. In particular, we show that when the location value is high, the price leadership by high-value-location firm will appear as a unique equilibrium.

• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.90-97
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• 2016

Since Korean construction firms have steadily advanced into the international market, small and medium construction companies (SMCCs) have also advanced in such market. SMCCs's recent trend have clearly shown the changes of contract types from single subcontractor projects to multiple general contracting projects. However, among those multiple projects performed by SMCCs, 1 out of 3 projects were deficit projects that impact the overall pe rformance of the firm. To increase such performance, risk management for in international construction must be managed at the enterprise level for SMCCs. This research aims to create a multiple project management model for SMCCS that employs the concept of acceptable risk to assess the limit risk level for corporation to acceptable. Using the accumulated data from previous survey and International Construction Association of Korea (ICAK), integrated risk of each firm and their profitability of each project are analyzed. Through the analysis, each firm's acceptable risk level is derived. Through the two research steps, acceptable risk algorithm was developed based on corporate integrated risk and profit correlation. To prove the acceptable algorithm relevance, financial statement analysis of 3 corporation was derived that level of acceptable risk and financial statement were available. Through the approach, this research allows the firms to analyze the firm's capability and find projects that suits the firm's situation and capability.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.143-175
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• 2016

In this study, we have analyzed the impact of firm, innovation and industry characteristics on firm's appropriation strategy focusing of the relative preference of patents and trade secrets by using the Korea Corporate Innovation Survey 2005, 2010 and 2014 data. According to the analysis results, companies with characteristics such as venture, high-technology industry, receipt of public R&D subsidies, performing product innovation, high R&D expenditure, prefer patents to trade secrets relatively. However, firm size and R&D cooperation did not have a statistically significant effect on the relative preference. This shows that policy on appropriation system considering the industry characteristics may be more effective. Companies in the industries with a high market concentration showed that trade secrets are preferred, especially these characteristic was distinctly in small and venture companies. This means that the increase in strategic patent applications of the incumbent firms is able to restrict the patent activities in small and venture companies. Because the excessive increase in strategic patents is likely to constrain the innovation activities of small and venture firms ultimately, policy initiatives to limit the abuse of strategic patent applications is required.