• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.1-16
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• 2013

The purpose of study is to promote the development of medium size enterprises(MSE) by analyzing the causal relationship between technology acquisition strategy and firms' performance. In this study, we use the number of intellectual property, sales growth rates, and return on sales as proxy variables of technological and financial performances. This study includes internal R&D investment, cooperative R&D with academy, foreign technologies transferred, and their interaction effects as the independent variables. The results of study are as follows. Frist, R&D Investment, Foreign Technologies Transferred and their interaction effects are positively influence on technological performance. Second, Cooperative R&D with academy and the interaction effects of R&D Investment and Cooperative R&D with academy are negative influence on technological performance. On the other hand, all of the main independent variables and the interaction effects have non-significant relationships with financial performances. These results imply that technological innovation efforts of MSEs do not effectively increase their financial performances. Furthermore, technological supports of government and academy on MSEs' innovation do not effectively increase their innovation outputs. Finally, this study discussed its theoretical and practical implications and the limitations of the study.

• KDI Journal of Economic Policy
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• v.36 no.2
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• pp.103-136
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• 2014

The covered interest rate parity condition (CIRP) has been widely used in open macroeconomic analysis, risk management, exchange rate forecasts, and so forth. Due to the recent global financial crises, there have been remarkable changes in the financial markets of the emerging markets. These changes possibly influenced the dynamics of the covered interest rate parity condition. In this paper, we investigate whether the CIRP dynamics has changed, and what is the nature of the regime changes. To do this, we propose and estimate multiple-state Markov regime switching models using a Bayesian MCMC method. Our estimation results indicate that the default risk or the deviation from the CIRP has been decreased after the crisis. It seems to be associated with the more active interaction between the short-term bond market and the short-term foreign exchange market than before. The tightened relation of these two financial markets is caused by the arbitrage transaction of foreign investors.

• Journal of Distribution Science
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• v.13 no.1
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• pp.93-103
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• 2015

Purpose - This study plans to adopt a more sophisticated approach toward service recognition by customers in general supermarkets in order to revise the service quality measurement methods that suit the context of Korean distribution channels. In particular, in general supermarkets, where much of the shopping process is in the form of self-service, there is high reliance on the service recognized by the consumers; therefore, it is highly likely that consumers would make their purchasing decisions based on their recognition of service quality or guarantees. It also utilized service quality elements of a basic level in the KD-SQS development model in order to indicate that the quality recognized by consumers impacts their loyalty to the stores with financial value and abstract value. Research design, data, and methodology - The study suggested a theoretical model comprising 13 hypotheses on relations between theoretic variables, and conducted surveys with consumers using discount stores in Seoul and Gyunggi Metropolitan area in order to verify the hypotheses, while using SPSS 20.0, AMOS 21.0 as the verification program. The survey sheets used amounted to 332, and a structural equation model was used to analyze the reliability and validity of constituent elements and to verify the suggested hypothesis. Therefore, this study analyzes the interrelations between service quality and guarantee factors in the distribution channel and their relations with the loyalty to stores as a dependent variable. Results - First, the results of the hypotheses tests helped identify the relations between service quality, service guarantees, service value, and customer loyalty, providing an opportunity to define the relations between constituent elements. In particular, service convenience in service quality has no impact on financial values. Further, stores' service policy had no impact on abstract values. Service recognition by service convenience has an impact on abstract values such as good image, comfort, and usability, while mileage systems promote financial values for consumers. In order to improve consumer values in service quality and values, general supermarkets should improve their service convenience, membership, and mileage programs using various strategies. Conclusion - In order to improve consumer values in service quality and values, general supermarkets should improve their service convenience, membership, and mileage programs using various strategies. Further, as service guarantee systems have a significant and direct impact on customer loyalty, rather than customer value recognition, service guarantees should be used to encourage customers to re-visit the stores. Finally, this study applied the findings of preceding studies in terms of service quality measurement; it had limitations in referencing preceding studies in a comprehensive manner. It also had limits in expanding upon various preceding studies because it was difficult to apply new measurement tools due to the lack of service quality measurement tools for general supermarkets. Therefore, it is necessary to conduct more studies on service quality to measure service quality and develop measurement tools by incorporating various industry characteristics.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.159-170
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• 2021

As the main purpose of R&D changes from the center of knowledge creation to the center of economic value creation through technology transfer and commercialization, public technologies can also secure economic feasibility as well as make a social contribution. Korea has been focusing on fostering core human resources who can lead the commercialization of basic and original research results by launching the 'Support project for exploring startups linked with public technology-based markets' since 2015 in order to promote public technology startup. This study is based on the results of a survey for the purpose of analyzing the performance of this project. In addition, this study derived four factors related to the I-corps project performance from the results of this survey and verified the relationship between these factors through structural equation model analysis. In summary, it was confirmed that 'Application Level' and 'Business Model,' which are positively affected directly from 'Entrepreneurship Learning,' have positive effects on 'Financial Resources'. Furthermore, the indirect effect of 'Entrepreneurship Learning' on 'Financial Resources' was verified. In particular, the high level of impact of 'Entrepreneurship Learning' on 'Application Level,' and the impact of 'Application Level' on 'Business Model' and 'Financial Resources' were also positive.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.2
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• pp.248-258
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• 2021

The study analyzed the financial determinants of corporate R&D intensity that require more attention from academics and practitioners in the Korean capital market. Domestic small and medium enterprises (SMEs) may face with developing substitutes by making more R&D investments in scale and scope, given the unprecedented economic conditions such as the limitation of importing core components and materials from other nation(s). KOSDAQ-listed SMEs were selected as sample data, whose R&D expenditures may be less than those of large firms during the post-global financial turmoil period (2010~2018). Static panel data model was applied, along with Tobit and stepwise regression models, for examining the validity of results. Logit, probit, and complementary log-log regressions were also employed for a relative analysis. R&D expenditures in the prior year, the interaction effect between the previous R&D intensity and high-tech sector, firm size, and growth rate were significant to determine R&D intensity. Moreover, a majority of explanatory variables were found to change between the years 2011 and 2018, while time-lagged effects between the R&D intensity and growth rate exist. Results of the study are expected to be used for future research to detect optimal levels of R&D expenditures for the value maximization of SMEs.

• Knowledge Management Research
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• v.22 no.4
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• pp.157-172
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• 2021

Information security companies were established in earnest from the mid-late 1990s to early 2000s, far shorter than other national key industries. Nevertheless, the information security industry has made rapid progress. It is expected that the proportion of the information security industry will increase rapidly with the development of advanced technology along with the 4th industrial revolution. As COVID-19, which occurred at the end of 2019, spreads around the world in 2020, non-face-to-face services and digital transformation are accelerating, and cyber threats to users are also increasing. However, there are limitations in responding to new Cyber Security threats due to the shortage of information protection manpower, insufficient security capabilities of domestic companies, and the narrow domestic information protection market. This study examines the external environmental factors of information security companies such as government information protection system operation, government influence, government support, partnership between information security companies, and internal environmental factors such as top management support, financial status, human resources, organizational capability, This study was conducted using empirical data to analyze whether it affects innovation capability and whether organizational capability and innovation capability affect financial and non-financial performance. The results of this study can be used as basic data to suggest policies and implications for information security, and to strengthen the competitiveness of the information security industry.

• The Journal of the Convergence on Culture Technology
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• v.8 no.2
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• pp.47-52
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• 2022

The purpose of this study is to identify the risk level of Chinese commercial banks' loan assets and to analyze what factors affect the stability of Chinese commercial banks. In addition, Chinese commercial banks are classified based on the asset size of 200 billion yuan, and the difference in stability according to size is investigated. The analysis results are as follows. First, it was estimated that as the proportion of household and corporate loans of commercial banks in China increased, the stability of banks decreased. Although the Chinese financial authorities are currently restricting the conservative management of loan assets, it will be necessary to preemptively manage risk on loan assets by setting an appropriate standard for loan-to-deposit ratio in the future. Second, as a result of analyzing the stability of large banks based on 200 billion yuan of bank assets, it was estimated that the stability of large banks was lower. As large banks are likely to conduct aggressive loan asset management, continuous management of non-performing assets is required in the future. This study will serve as a measure for improving the stability of commercial banks in China by estimating the effect of loan asset management of Chinese commercial banks on financial stability. In particular, by examining the stability of large banks, a strategy for sustainable development of the financial industry is required by diagnosing the weaknesses of large banks.

• Information Systems Review
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• v.20 no.4
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• pp.79-96
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• 2018

This study started by focusing on the internalization of the technology appraisal model into the credit rating model to increase the discriminative power of the credit rating model not only for SMEs but also for all companies, reflecting the items related to the financial stability of the enterprises among the technology appraisal items. Therefore, it is aimed to verify whether the technology appraisal model can be applied to identify high-stability SMEs in advance. We classified companies into industries (manufacturing vs. non-manufacturing) and the age of company (initial vs. non-initial), and defined as a high-stability company that has achieved an average debt ratio less than 1/2 of the group for three years. The C5.0 was applied to verify the discriminant power of the model. As a result of the analysis, there is a difference in importance according to the type of industry and the age of company at the sub-item level, but in the mid-item level the R&D capability was a key variable for discriminating high-stability SMEs. In the early stage of establishment, the funding capacity (diversification of funding methods, capital structure and capital cost which taking into account profitability) is an important variable in financial stability. However, we concluded that technology development infrastructure, which enables continuous performance as the age of company increase, becomes an important variable affecting financial stability. The classification accuracy of the model according to the age of company and industry is 71~91%, and it is confirmed that it is possible to identify high-stability SMEs by using technology appraisal items.

• Proceedings of the KSR Conference
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• 2011.10a
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• pp.1282-1288
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• 2011

Recently, the demand regarding reliability and safety of the railroad are increased as built to high-speed railway and Driverless LRT systems. Accordingly, effective management of construction projects is being applied, with the introduction and use of PMIS computerized systems. Due to the construction of railways, from the start of PMIS research planning, design, procurement, to construction and commissioning, various expertise is being carefully gathered, and by integrating it into the unified budget ideas and processes, rational, efficient, organized, and manageable financial plans are developed for the computerized system. However, the current PMIS does not take into account the life-cycle. Therefore, this study is to bring attention to the BIM smart BOM-based configuration management for life-cycle through the consideration for railway construction project management.

• Korean Journal of Soil Science and Fertilizer
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• v.45 no.3
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• pp.421-427
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• 2012

Nepal is one of the least urbanized countries in the world where more than 80% of the total population live in rural areas. In recent years, the rate of urbanization became rampant which ultimately accelerated immense pressure on municipal services, especially on managing the ever increasing amount of wastes. Due to lack of technology, infrastructure and financial capacity management of increasing amount of solid waste has become a major challenge in municipalities of Nepal. The indiscriminate dumping of solid wastes already affected the urban environment by creating a serious occupational health and environmental hazard to the vicinity of the dumping sites. However, there is great possibility of recovering methane from the landfill sites since the typical Nepalese municipal solid waste contains more than 65% of organic wastes. Despite having enormous potential of generating electricity from hydropower, Nepal is facing acute shortage of energy. Therefore, comprehensive scientific research and development is necessary for making solid waste to environmentally friendly by converting waste to the energy.