• Journal of Korea Society of Digital Industry and Information Management
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• v.4 no.4
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• pp.103-111
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• 2008

While the demand for ASP(Application Service Provider) focused on small and medium enterprises who are fully aware of needs of ICT readiness has been increasing, those who consider to adopt ASP are wondering whether their performance would be actually successful if they did. These concerns can be an important standard of judgement, when introducing new information systems, by analyzing ROI(Return on Investment) on the current enterprises. Therefore, to review the feasibility of investing IT and measuring the performance, this study suggests a framework for ROI analysis which estimates IT investment performance, through multi-criteria approach on both financial performance index and non-financial one. We applied methodology on ASP-based IT investment performance evaluation to sample manufacturing companies under 50 employees and deduced the main implications to be considered when introducing the system.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.71-85
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• 2021

Purpose - Prior studies have found that the characteristics of managers, corporate governance structure, corporate social responsibility and so on affect firm value. This study explores whether managerial overconfidence affects firm value through empirical analysis. Design/methodology/approach - Korean-listed non-financial companies from 2011 - 2017 are collected as the research sample. Firm value is measured by Tobin's Q, and managerial overconfidence is measured using a composite index encompassing various financial data. OLS and fixed effect model are used to investigate the relationship between managerial overconfidence and firm value. Findings - Managerial overconfidence is positively associated with firm value. Additional analysis reveals the following: (1) In the three subsamples of large, backbone, and small- and medium-sized enterprises, managerial overconfidence is beneficial to firm values. (2) Managerial overconfidence increases firm value on the t+1 year. Research implications or Originality - We use a comprehensive index with higher trust and feasibility to measure manager overconfidence and empirically confirm that managerial overconfidence can become a factor to improve firm value. Thus, it is necessary for shareholders to adopt an objective and neutral attitude and reasonably understand the psychological characteristics of managers when selecting CEOs. In addition, it is necessary to continue to optimize the measurement method of managerial overconfidence.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.265-275
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• 2022

In the current fast-growing market economy, the accounting-outsourcing trend of small and medium-sized enterprises is on the increase. Studies from both foreign and domestic sources have shown that many factors influence this decision. However, each country has different economic and political characteristics, so these factors and their degree of impact on accounting outsourcing also vary. This study aimed to determine the factors affecting the decision to outsource accounting activities of small and medium transport enterprises in Vietnam. A survey of 384 transport SMEs was conducted using the convenience sampling method. A personal interview with owners/managers/CFOs in 3 major cities of Vietnam based on a research review was conducted. The model examines the influence of many independent variables on accounting outsourcing. The multilinear regression analysis shows that the higher the Assets Specificity, the lower the degree of accounting outsourcing. In addition, the degree of outsourcing is positively and significantly related to frequency and trust in accountants. Besides, when we include control variables such as gender, administrative level, firm size, company age, education, and experience into the model. The results show that small and medium enterprises with limited resources should switch from the traditional internal accounting method to a professional accountant with external knowledge. Based on this study, the author proposes several implications for the accounting outsourcing of small and medium-sized transport enterprises in Vietnam to be more effective. Finally, this study also contributes to the basic knowledge of accounting outsourcing.

• Journal of the Economic Geographical Society of Korea
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• v.18 no.4
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• pp.505-521
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• 2015

Using small and medium sized firms located on 3th seongseo industry complex in Daegu, this study investigated the effects of technology development factors on innovation performance, and suggested the implications in terms of technology policies. Technology development factors are categorized into both fundamental based factors and external cooperation based factors as independent variables. According to the research results, external cooperation based factor positively affects innovation performance, and this positive effect is reported in firms having more than average firm size. Under environment uncertainty, external cooperation based factor plays a key role to increase innovation performance to firms having more than average firm size. Therefore, policy making should be focused on external cooperation, not on fundamental base such as people and infrastructure, and also dissimilar policy suggestion based firm size is needed to be considered.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.1-15
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• 2023

Purpose - This study investigates whether the inventory levels of Korean manufacturing firms increased or decreased from 2000 to 2019. We also explore the relationship between inventory levels and firm performance. Design/methodology/approach - We use panel data on KOSPI-listed firms in the manufacturing industry. We measure days in inventory as a proxy for inventory levels, and firm performance is measured by return on assets, return on sales, and EBITDA ratio. The panel data regression method is employed in our analysis. Findings - We find that days in inventory of Korean manufacturing firms significantly increased from 2000 to 2019, especially for raw materials and finished goods inventory. In addition, while days in inventory of large- and medium-sized firms were less than those of small-sized firms, the change in days in inventory of large- and medium-sized firms was positively significant over time. Moreover, the increase in days in inventory was more prevalent among industries related to foods, clothes, chemicals, and transportation. Finally, we show that the days in inventory are negatively related to firm performance. Research implications or Originality - While the Korean manufacturing industry has enormously grown over the last 20 years and managing inventory is critical in the manufacturing industry, our findings counter-intuitively show that the days in inventory of the Korean manufacturing industry had been gradually increased. We speculate that the increase in days in inventory is due to the Korean manufacturing firms' heavy reliance on global supply chains.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2004.10a
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• pp.173-176
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• 2004

Understanding the fact that more spending for R&D is merely a necessity, not a factor of success, managing technological development efforts effectively and efficiently for higher R&D productivity and sustainable growth has become an important issue for contemporary firms. Based on a survey on small- and medium-sized manufacturing firms, this paper explores the relationships of leadership positions, technological contents and acquisition methods of korean firms. This paper has identified several findings from Korean manufacturing firms: (1) five different patterns are identified in the technology strategy of medium-sized companies; (2) a significantly positive relationship exists between a firm's leadership position and the aggressiveness in technological contents of their acquisition methods; (3) a significantly positive relationship of some technology acquisition methods to the firms' leadership position exists,

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.4
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• pp.181-189
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• 2020

This study identifies interest and reasons for small- and medium-sized technological firms to increase their uses of Technopark for product innovation and development. To determine whether interest exists, a research model was built, based upon the innovative process that small and medium sized enterprises'experience when developing capabilities. The model was characterized by its entrepreneurial orientation, organizational culture and support of the Technopark. Small and medium-sized technological firms operating in Technopark were surveyed in the Fall of 2019. Responses were collected and analyzed using structural equation modeling. Among the findings: supporting greater uses of Technopark can impact a firm's performance positively by mediating new product development capabilities. Firms with relatively limited resources and capabilities are most likely to benefit from using regional innovation hubs such as Technopark to improve their innovative capabilities and performance. Government and Technopark need to develop and implement demand-based support programs, especially ones to focus on improving the innovation capabilities of technology-based small and medium-sized enterprises.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.25-34
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• 2012

It is expected reasonably that firms are likely to be motivated to engage in cooperate social responsibility(CSR) more effectively and efficiently in order for sustainable growth when partnerships on supply chain are willing to embrace the initiative for CSR actively rather than a firm's effort. Given that this is a SCM(Supply Chain Management) approach to CSR, the SC-CSR(Cooperate Social Responsibility in Supply Chain), which encourage all partners on supply chain to apply it, can provide larger social impact. This study is to verify the effect of SC-SCR on the willingness to initiate CSR in small and medium-sized enterprises. As a result of empirical analysis, the application of SC-SCR has positive effect on the willingness of small and medium-sized enterprises to initiate social responsibility by promoting the situational needs. This results indicates that helping firms observe ISO 26000, the recognized international standard for CSR, the motivation for SCR can be reinforced by making partners on supply chain respect CSR.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.103-114
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• 2014

The concept of entrepreneurial orientation has been recognized as a key driver for success of business ventures. Since small and medium-sized business ventures usually lack in business experience, firm level entrepreneurship seems to play an important role in generating firm performance. Following those logics, traditional approaches assumed that the relationship between entrepreneurial orientation and firm performance is linear, but recently studies start to report non-linear relationships. However, only a few researches examines and compares the performance effects of entrepreneurial orientation with diverse performance indicators. Current study explores the effects of entrepreneurial orientation both on financial and innovative performance with 1,497 Korean small and medium-sized business ventures. This study finds that there is a linear relationship between entrepreneurial orientation and financial performance, but inverted U-shaped relationships between entrepreneurial orientation and innovative performance, measured by product novelty and patent issued. Also those relationship patterns are consistent with different measurement of entrepreneurial orientation. Based on these results, theoretical implications with some limitations are discussed.

• 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.