• Journal of Technology Innovation
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• v.26 no.2
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• pp.129-149
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• 2018

Technology finance is an area in which financial authorities have introduced and implemented a strong policy will for the advancement of the financial industry and the development of SMEs. As a result, the Bank's own technology evaluation was conducted from September 2016. Technically superior companies are upgrading their credit ratings, and as a result, they benefit from financial transactions as much as their higher credit ratings through technology evaluation. Based on the data generated during this process, we analyze the degree to which credit ratings was upgraded by technology evaluation. The pre study handles 406 data from KEB Hana Bank's technology evaluation conducted in the second half of 2016. As a result of combining the credit rating with the calculated technology rating, J58 'Publishing Activities' technology-credit rating is raised by 1.05 rating, which is the highest, and C10 'Manufacture of Food Products' is the second highest. As a result, we were able to identify the sectors that benefited from the technology evaluation and confirmed the usefulness of technology evaluation by industry(KSIC). To expanding the study, 2,719 companies evaluated during the entire period were analyzed by technology grade, business experience and promising growth industry code. As a result of the analysis, technological power over T-4 grade companies had the highest credit rating upgrades. The companies belonging to promising growth industries designated for efficiency of policy support, it is confirm that the support of the promising business type was useful because the credit grade was upgraded through technology evaluation. The validity of the technology evaluation based on the five-year business experience was found to be insignificant. In the future, it will be possible to maximize the support effect by concentration on the companies with over T-4 grade and growth potential companies when supporting SMEs.

• Journal of Distribution Science
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• v.14 no.2
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• pp.93-101
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• 2016

Purpose - This study aims to advance our knowledge about factors influencing technical startup performance through analysing technical startup process empirically. This study was conducted to focus on industry structure(industry growth rate, competitive intensity, and enter barriers), technology characteristics(technical excellence and wide range of technical application), and the performance in the technology-based start-ups. Specifically, analyzing moderating effect of technology-marketing strategy, this studied how moderating variables affect technical startup performance under industry structure. Research design, data, and methodology - The subject of this study was technology-based start-ups company that received technology transfer from public organization. The development of the paper model is based on the literature of the preceding research analysis in technology commercialization, performance of technology-based start-ups, and marketing strategy. This study has a construct that was defined in the previous studies, such that technology marketing strategy was defined into the two ways of being broad or narrow in strategic application. From November 3. 2015 to December 22, 220 questionnaires were distributed with targeting to start-up companies in technology-based. 188 responses were collected for empirical analysis except the missing and wrong value responses. This data were used for structural equation modeling and regression analysis. Results - The results of this study are as follows. First, as industry structure variables influencing on performance(technical, financial) of technology-based start-ups, industry growth rate, competitive intensity and enter barriers of variables were verified; high growth rate has more positive effect on performance than low growth rate, competitive low intensity has more positive effect on performance than competitive high intensity, low enter barriers have more positive effect on performance than high enter barriers. Second, as technology characteristics variables influences on the performance(technical, financial) of technology-based start-ups, technical excellence and wide range of technical application of variables were verified ; technical high-excellence has more positive effect on performance than technology low-excellence, wide range of technical application has more positive effect on performance than narrow range of technical application. We also find that technology marketing strategy(broad/narrow) in moderating factors on performance (technical, financial) is as follows. Analyzing the moderating effect depending on technology marketing strategy(broad/narrow), application of technology, and the types of technology strategy(broad/narrow) were revealed that broad marketing strategy had a more significant effect on performance of technology-based start-ups. With AMOS, the relevancy of the study model revealed higher for broad technology-marketing strategy than narrow technology marketing strategy, and the explanatory power revealed to be 6.4% higher in broad marketing strategy than narrow marketing strategy. Conclusions - This study confirmed that industry structure and technology characteristics are important factors influencing the performance of technology-based start-ups. Technology-marketing strategy affects the performance of technology-based start-ups between industry structure and technology characteristics. According to additional analysis, moderating variables and technology-marketing strategy are important factors influencing the performance of technology-based start-ups under industry structure and technology characteristics. Broad type of technology-marketing strategy has more attractive industry structure and excellent technology characteristics than narrow types of technology-marketing.

• Journal of Global Scholars of Marketing Science
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• v.8
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• pp.341-373
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• 2001

Firms are confronting the age of an infinite competition. In order to respond to the rapidly changing business environment and make a success and survival in the international and domestic securities market, firms must take a consideration on the stockholders value-oriented philosophy which has greatly contributed not only to the maximization of corporate profits but also to the stability of financial markets. To pursue stockholders value-oriented philosophy, a firm should build strong relationship with investors by providing exact information of firm's state, financial statement, management policy. Stockholders value-oriented philosophy contributes to long-term growth and development of the firm as well as efficient equity financing and friendship with stockholder. IR is the key factor to attain successful implementation of company's objective. It should be equipped with the most suitable organization and qualified man-power for IR activities. The purpose of this study was to examine the relationship between IR and relationship marketing management. Strategic implications of this study are as follows: First, This study provides a new explanations of IR activities in Relationship Marketing Management. Second, IR activities were key determinants of Trust and Commitment. That means the more a firm does IR activities, the more Trust and Commitment a firm has for their investors. Third, The variables of trust and commitment are highly related to marketing and financial success. IR have a positive effect on a company total value and its cost of capital relative to that of the overall market.

• Journal of Distribution Science
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• v.15 no.12
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• pp.95-102
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• 2017

Purpose - This study aims to develop diagnostic indices for managerial performance of agro-food distribution corporations. In particular, weights of diagnostic indices were estimated using the AHP method. Management diagnosis on agro-food distribution corporations is expected to increase their competitiveness in the domestic market as well as in international markets. Research design, data, and methodology - It develops weights or importance of the diagnostic indices based upon the survey of 21 experts in food distribution management. The survey was carried out using e-mail. Management diagnostic indices were developed based upon four BSC(Balanced Scorecard) perspectives of finance, learning/growth/leadership, customer, and internal process/technology. Results - Diagnostic indices on financial perspective consist on profitability, productivity, growth, stability and activity. Learning and leadership perspective indices consist of management will, CEO leadership, level of learning, innovation, and level of management information system. Customer perspective indices are branding, customer and channel management and internal process/technology indices consist of fourteen sub-indices representing technologies, efficiency, and dynamics. It was estimated that the weight of financial perspective index was 0.3, internal process/technology perspective index 0.248, customer category index 0.247, and learning, growth and leadership perspective index 0.205. This study also estimates weights of sub-indices for managerial diagnosis by four different perspectives. Estimated weight of profitability (0.085) is the greatest among financial perspective indices, followed by stability (0.072), growth (0.053), productivity (0.051), and activity (0.038). While estimated weights of leadership, capability, and information indices are 0.100, 0.061, and 0.044 respectively, weights of marketing, customer management, and quality and service indices are 0.104, 0.093, and 0.051, respectively. Among internal process/technology perspective, estimated weights of efficiency, technology, and innovation indices are 0.106, 0.088, and 0.054, respectively. Conclusions - The diagnostic indices for managerial performance of agro-food distribution corporations would be utilized by agro-food distribution corporations themselves, extension service institutions, and consultants. It is also expected that central and local governments use diagnostic indices developed in this study for the purpose of evaluating the effects of governmental support programs for agro-food distribution corporations. Futhermore researchers and consultants would modify diagnostic indices developed in this study, reflecting characteristics and situation of types of agro-food distribution corporations.

• Journal of Digital Convergence
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• v.18 no.11
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• pp.527-538
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• 2020

This research measures the urgency and importance listening to experts' opinions as a proposal for vitalization of folk modern dance groups. Firstly, the open type FGI(Focus Group Interview) was implemented for five groups of an expert by applying the new industry foster theory, and total 24 types of second questionnaire were developed through importantly referred or repeated contents. They were distributed to 20 people including a dance group representative, a planner, a university professor and etc to measure experts' importance and urgency. In the research result, For big list, Financial aid for both importance and urgency appear first, and for comparative analysis of importance and urgency for small list, differences in infrastructure construction are shown. "expansion of dance program's advertisement channels" and "rank 1" appeared in "Secure space for dancers". Suggestions for analyzing such results are as follows. It is shown that "detailed financial aid for the operation of dance groups" and etc in the aspect of financial aid, "the employment of professional human resources including design and producing etc" in that of performance and education related production development, "training a dancer who can assimilate a complex genre" in that of manpower training, "arrangement of exclusive space for a dance group" in that of infrastructure building, and "the employment of professional human resources including design and producing etc" in that of consulting support are important and urgent matters considered by experts.

• International Commerce and Information Review
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• v.16 no.5
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• pp.179-201
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• 2014

The complementary effect between FDI and its absorptive capacity has drawn more attention than before. This paper intended to explore the relationship between energy intensity and such complementary effect. The absorptive capacity of FDI shows various aspects among which we focus on the human capital, the financial system and the infrastructure in this paper. Using the panel data from 1990 to 2011, the study is processed between the 20 OECD and 20 Non-OECD countries. The empirical results shown that for OECD country, a complementary effect exists between FDI and its absorbability and it has the controlling effect on energy reduction. But the effect is only significant in the human capital and the financial system. The infrastructure variable is less important in OECD country due to their high development level. However, for non-OECD country, the complementary effect between infrastructure and FDI reduces energy consumption significantly, it can get to the point that the process for infrastructure to attract FDI and also benefits from it only blow its way to the Non-OECD, developing countries, without andy special effects for the OECD countries which has already highly build up their infrastructure. Also, the financial system in Non-OECD countries is at the primary stage yet, which is not easy to contribute efficiency. To make a conclusion, the complementary effect between infrastructure and FDI in OECD country and which between finical system and FDI in non-OECD country cannot enhance energy efficiency as expected.

• KDI Journal of Economic Policy
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• v.32 no.1
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• pp.27-49
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• 2010

This paper provides insight into some important features of the intergenerational resource allocation in Korea, before and after the financial crisis in 1997-98. Data sets of three periods before and after the financial crisis (1996, 2000, and 2005) were used to compare the results. This research particularly addresses two related issues: i) the generational effects of economic crisis, and ii) the capacity of age reallocation systems to spread economic risks across generations. The results show tremendous consumption smoothing and resource reallocation by age, during and after the financial crisis. Private education and private health consumption decreased for children between 1996 and 2000. However, the decrease in private education and private health consumption was mitigated by the increase in public consumption. It appears that the public sector did not only mitigate the adverse impact of the economic crisis on consumption, but it also reduced the widening disparity amongst generations. Within transfers, the public transfers for the elderly increased substantially as the private transfers decreased rapidly. Finally, there was a big increase in the asset-based reallocation of the elderly. The increase in asset-based reallocation was mainly due to an increase in asset income between 1996 and 2000, but it was almost entirely due to a decrease in saving (i.e. an increase in dissaving) between 2000 and 2005. This suggests that Korean elderly seemed to have some degree of supporting system during the crisis, even without sufficient pension benefits. The increased reliance on asset accumulation will be critical in the long-run in Korea, as public pension funds diminish due to population aging.

• Journal of the Korean Society for Library and Information Science
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• v.23
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• pp.263-301
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• 1992

In recent years, Korean public libraries, placed under changing circumstances, require that some new and positive financial policies be formulated for the improvement of their services. T he purpose of this study is to propose a scheme to ensure the revenues of Korean public libraries. The main contents of this study are as follows : (1) Public finance theory is applied to the question of why the public library is publicly supported. The public library does not contribute to stabilization, but it does playa role in each of the other public sector functions : allocation of resources and redistribution of income. In public finance terms there is justification for at least partial subsidy of public library services, which have the attributes of public goods, merit goods and externalities. (2) Public libraries in Korea find themselves suffering from limited budgets. They are neglected in national and local budgets. The lack of adequate funding for library collections prevents libraries from rendering efficient services. (3) In order to put the finances of the Korean public library system on a firm basis, the following proposals are made: 1) It is proposed that the parallel administration under which public libraries are organized be unified to be directly under the local governments. 2) It is proposed that the legislative and administrative system for public library finance be strengthened. (1) Library expenses should be itemized independently in the calculation of general grants-in-aid to local governments. (2) A fixed portion of the total municipal revenue should be appropriated for public library services. It can be executed by making provisions expressly in the annual guidelines for budgeting, municipal ordinances, or in the Library Promotion Law. The rate of allocation should be specified as a part of the national public library development plan. (3) Library tax as a local tax can be imposed. An indirect tax is preferable in order to avoid public misunderstanding and antagonism. 3) The augmentation of the specific grants-in-aid for the public library is proposed. The Library Promotion Law and the Law on Budget and Administration of Grants should be amended to oblige the central government to give financial assistance to local public libraries. 4) It is proposed that strategies to encourage private endowments be worked out. Revision of the Law on Tax Reduction and Exemption and the activation of an advisory library committee at each public library are recommended. 5) Funding and utilization of the envisioned Library Promotion Foundation is proposed. Government contributions, contributions from the Culture and Arts Foundation, and donations from individuals, corporations, and enterprises can be considered as the financial resources of the Foundation. 6) It is proposed that the structure of the Korean Library Association be consolidated to exercise greater influence over the formation of national policy on the public library system. 7) It is proposed as an ultimate guarantee of the health of the public libraries that the citizenry be educated to strongly support library services in responce to the active services provided by the public libraries.

• Journal of Digital Convergence
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• v.12 no.5
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• pp.131-138
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• 2014

Management consulting by a bank is expected to have a win-win relationship to the mutual development of the banks and client firms. Previous studies also claimed that consulting had a positive impact on the competitiveness and business performance of the firms. Nevertheless, few empirical studies were found to analyze the relationship and explain the result whether consulting had really enhanced the competitiveness and performance of the businesses after consulting. The present paper has empirically analyzed the impact of a management consulting by a bank on the business performance of the client firms and on the contribution to the bank. In terms of client firms, the financial results of the client companies such as stability, profitability and growth potential were compared before and after the consulting; in terms of the bank, the changes in the last three-month average outstanding of deposits and loans were measured and verified in order to measure the contribution of the client firms to bank. A significant effect was confirmed in this study of the consulting on the client firms' the debt ratio-an item of financial stability and sales growth-an item of the growth potential.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.199-226
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• 2009

We examine the intertemporal relation between risk and return in the Korean stock market and foreign exchange market based on the two factor ICAPM framework. The standard GARCH model and the GJR(1993) model are employed to estimate conditional variances of the stock returns and foreign exchange rates. The covariance between the rates of stock returns and changes in the exchange rates are estimated by the constant conditional correlation model of Bollerslev(1990) and the dynamic conditional correlation model of Engle(2002). The multivariate GARCH in mean model and quasi-maximum likelihood estimation method, consequently, are applied to investigate riskreturn relation jointly. We find that the estimated coefficient of relative risk aversion is negative and statistically significant in the post-financial crisis sample period in the Korean stock market. We also show that the expected stock returns are negatively related to the dynamic covariance with foreign exchange rates. Both estimated parameters of conditional variance and covariance in the foreign exchange market, however, are not statistically significant. The GJR model is better than the standard GARCH model to estimate the conditional variances. In addition, the dynamic conditional correlation model has higher explanatory power than the constant correlation model. The empirical results of this study suggest following two points to investors and risk managers in hedging and diversifying strategies for their portfolios in the Korean stock market: first, the variability of foreign exchange rates should be considered, and second, time-varying correlation between stock returns and changes in foreign exchange rates supposed to be considered.