• 마케팅과학연구
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• 제18권2호
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• pp.189-222
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• 2008

본 연구는 동물병원 산업에서 동물병원의 시장지향성 활동과 동물병원의 공급업체와의 관계지향성 활동이 동물병원의 사업성과-재무적 및 비재무적-에 어떠한 영향을 미치는지를 체계적으로 분석하고, 동물병원 경영자의 특성 (경영자의 근속연수)과 동물병원의 사업입지가 이들 영향관계에서 어떠한 조절역할을 하는지를 분석하고자 하였다. 분석 결과, 동물병원의 시장지향성 활동은 동물병원의 재무적 성과와 비재무적 성과 모두에 유의적으로 영향을 미쳤다. 또한 동물병원의 시장지향성 활동은 동물병원 경영자의 근속연수에 따라 사업성과에 유의적인 영향을 미치나, 동물병원의 입지에 따른 동물병원의 시장지향성은 동물병원의 사업성과에 유의적인 영향을 미치지 않은 것으로 나타났다. 한편 동물병원의 공급업체와의 관계지향성 활동은 동물병원의 재무적 성과 및 비재무적 성과에 대부분 정의 방향으로 영향을 미치는 것으로 나타났다. 또한 동물병원 경영자의 근속연수에 따라 공급업체와의 관계지향성 활동이 동물병원의 사업성과에 미치는 영향에 관한 연구에서, 경영자가 4년 이상 장기간 근속한 경우 관계지향성 활동이 재무적 성과와 비재무적 성과에 정의 방향으로 영향을 미치는 것으로 나타났다. 하지만, 동물병원 경영자가 3년 이하 단기간 근속한 경우, 관계지향성 활동은 재무적 성과에 영향을 미치지 않았고 비재무적 성과에는 비교적 약하게 영향을 미치는 것으로 나타났다. 동물병원의 사업입지에 따라 관계지향성 활동이 동물병원의 사업성과에 미치는 영향에 관한 연구결과에서, 비수도권에서 공급업체와의 관계지향성 활동이 재무적 및 비재무적 성과에 매우 유의하게 영향을 미치는 것으로 나타났고, 수도권에서는 관계지향성 활동이 재무적 및 비재무적 성과에 모두 영향을 주지 않는 것으로 나타났다. 요약하면, 동물병원의 시장지향성 활동과 공급업체와의 관계지향성 활동이 동물병원의 재무적 및 비재무적 사업성과에 미치는 영향에 관한 전반적인 연구에서, 시장지향성은 동물병원의 사업성과에 일관되게 영향을 미치지만, 공급업체와의 관계지향성 활동은 경영자의 근속기간 및 사업입지에 따라 사업성과에 다른 영향을 미치는 것으로 나타났다. 즉, 동물병원 경영자의 근속연수나 사업입지에 따라 동물병원의 사업전략을 선택적으로 접목해야함을 알 수 있었다. 마지막으로 연구결과에 따른 시사점, 연구의 한계점과 향후 연구방향에 대해 논의를 하였다.

• 유통과학연구
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• 제13권11호
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• pp.79-92
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• 2015

Purpose - The aim of this study is to develop an empirical model of the effects of traditional market service quality factors on customer value, relationship quality, and behavior. The specific objectives of the study are as follows: 1) to classify study objects into cultural tourism markets and non-cultural tourism markets as well as to verify the differences in service quality among the two markets and, 2) to present practical service marketing methods that fit with the characteristics of the traditional markets by amending the five quality evaluation items of SERVQUAL (a multiple-item scale for measuring service quality)to suit the characteristics of the traditional markets and establish the relationship among customer value, relationship quality, and behavior intention. Research design, data, and methodology - The study methods of empirical investigation are as follows. First, this study selected for a study object the Suwon Paldalmun Gate Market to represent the cultural tourism market, and general traditional markets to represent the non-cultural tourism market. This study also conducted personal interviews in order to increase the response rate and collected a total of 418 responses between March 18, 2014 and April 05, 2014. The total of 418 responses used for this study excluded 14 responses that had either misleading information or missing values. Results - This study verified the perceived differences of service quality based on traditional market specialization through an independent sample t-test. It appeared that the perceived service quality of the cultural tourism market was generally higher than that of the non-cultural tourism market. This study executed a path analysis in order to examine the effects of service quality factors on customer value, relationship quality, and behavior intention. This study also comprehensively analyzed the specialized market and non-specialized market separately. Although there were some differences among the results, the overall results were uniform. It appeared that convenience, reliability, and empathy, among the service quality factors, exerted meaningful effects on customer value. On the other hand, convenience, reliability, responsiveness, and empathy, excluding the tangibles, exerted meaningful effects on the relationship quality. In addition, it appeared that all service quality factors exerted meaningful effects on the customer value, relationship quality, and behavior intention. Therefore, the study verified that all of the hypotheses formulated in the study were generally adopted. Conclusions - The implication of this study may be classified into academic and practical implication as follows. With respect to the academic implication, it seems that this study is among the early studies to verify the differences between the cultural tourism market and the non-cultural tourism market. The practical implication of this study is that the perceived service quality, such as convenience, reliability, responsiveness, and tangibles, excluding empathy, was higher in the cultural tourism market than in the non-cultural tourism market. This means that customer satisfaction is enhanced by governmental aid such as hardware, software, and information and communications technology.

• 정보학연구
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• 제1권2호
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• pp.25-37
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• 1998

경영전략수립에 있어서 자본비용 평가는 중요한 의미를 갖는다. 이는 자본비용은 기업가치 평가 및 새로운 Project 심사에 매우 중요한 위치를 차지하고 있기 때문이다. 상장기업의 경우 자본비용은 일반적으로 자본자산가 격결정모형(capital asset pricing model : CAPM)에서 주식시장을 이용한 베타($\beta$)를 구함으로서 쉽게 구할 수 있다. 그러나 비상장기업은 주가를 이용할 수 없다. 따라서 비상장기업의 경우 주가에 가장큰 영향을 미치는 회계정보가 주가를 대신하여 자본비용 계산시 유용한 베타를 구할 수 있는지에 대한 많은 연구가 계속하여 이루어지고 있다. 이러한 사실에 비추어 본 연구는 재무정보와 시장의 체계적 위험(또는 시장베타)과 어떤 관련성이 있는가를 분석하는데 초점을 두고 있으며 특히 순수접근기법(Uure-play technique)과 회계정보에 의한 기본적접근방법(fundamental approach)을 이용하여 베타가 어떻게 추정되는지를 분석했다. 그리고 캐나다 자본시장에서 재무정보와 주가의 상호관련성을 실증 분석한 Patterson의 베타예측모형을 추가적으로 검토했다. 한편 향후 이 논문은 Patterson의 베타예측모델을 가지고 우리 나라에 적용 재무정보와 체계적위험간의 관계를 실증분석하기 위한 선행연구라는 점을 밝히고 싶다.

• 벤처창업연구
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• 제13권2호
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• pp.101-113
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• 2018

오늘날 역동적이고 불확실성이 큰 시장 환경 속에서 급진적 혁신의 성과를 높이는데 있어서 외부지식 탐색 전략의 중요성은 커지고 있다. 하지만 외부지식 탐색 전략에 대한 기존의 연구들은 지식의 원천을 구분하지 않고 모호하게 측정하였기 때문에 외부지식 탐색 전략이 급진적 혁신성과에 미치는 영향에 대해 상반된 결과들이 존재하였다. 이에 본 연구에서는 급진적 혁신을 위한 새로운 지식이 다른 환경에서 배태되었을 경우 각기 상이한 특성을 지닐 수 있음을 고려하여, 외부지식 탐색 전략을 '시장 관계'와 '비시장 관계'로 나누어 이들이 급진적 혁신성과에 미치는 영향을 살펴보고자 한다. '시장 관계'는, 기업이 시장에서 직접적으로 맞닿게 되는 행위자들로 구성된 원천으로 이들을 통해 시장지식(Market Knowledge)을 제공하는 반면에, '비시장 관계'는 시장 내에서 기업들이 직접적으로 경쟁하는 관계가 아니지만 시장지식을 넘어서는 새롭고 참시한 기초 과학적 지식(Basic Scientific Knowledge)을 습득할 수 있게 한다. 이렇게 외부지식의 원천을 구분함으로써 각각 이들이 제공하는 지식의 고유한 특성과 급진적 혁신 성과 간의 관계에 대한 이해를 보다 깊이 하고자 하였다. 이를 위하여 과학기술정책연구원(STEPI)에서 제공하고 있는 제조업 분야의 431개 기업 데이터를 활용하여 실증 분석하였다. 분석 결과 외부지식 탐색 전략 중 '시장 관계'에 기반을 둔 광범위하고 심도 있는 외부지식 탐색은 모두 급진적 혁신 성과에 긍정적인 영향을 미치는 것으로 나타났지만, '비시장 관계'를 통해 탐색된 외부지식은 급진적 혁신 성과에 영향을 미치지 못하는 것으로 나타났다. 이러한 연구 결과는 기업이 급진적 혁신성과를 향상시키기 위해서는 시장 내의 행위자들과 상호 협력적인 관계를 유지해 나가면서 시장 지식을 효율적으로 활용할 필요성이 있음을 시사한다.

• 아태비즈니스연구
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• 제15권1호
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• pp.145-157
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• 2024

Purpose - In this study, we propose an empirical model for predicting seasoned equity offering (SEO here after) using machine learning methods. Design/methodology/approach - The models utilize the random forest method based on decision trees that considers non-linear relationships, as well as the gradient boosting tree model. SEOs incur significant direct and indirect costs. Therefore, CEOs' decisions of seasoned equity issuances are made only when the benefits outweigh the costs, which leads to a non-linear relationship between SEOs and a determinant of them. Particularly, a variable related to market timing effectively exhibit such non-linear relations. Findings - To account for these non-linear relationships, we hypothesize that decision tree-based random forest and gradient boosting tree models are more suitable than the linear methodologies due to the non-linear relations. The results of this study support this hypothesis. Research implications or Originality - We expect that our findings can provide meaningful information to investors and policy makers by classifying companies to undergo SEOs.

• 유통과학연구
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• 제11권2호
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• pp.11-21
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• 2013

Purpose - The purpose of the study is to promote the adoption of traditional liquor product contents in order to revitalize the market and to increase consumer awareness of traditional liquor. Research design, data, methodology - In this study, the 4P relationship model was evaluated that included the self-supporting business of traditional liquor, continuous business, diversification of the types of the liquor, and discovery of preliminary social enterprises for the distribution of the liquor. Results - The study suggested a 4P relationship model that consisted of traditional liquor as the product, traditional market as the place, promotion within traditional market, and payment of labor costs. In other words, selection of the traditional liquor product, place, rental supports, distribution and delivery strategies, operations, public relations and training, foundation of social enterprises, and discussion between departments. Conclusions - The central government, local governments, and merchants (the market association) should actively cooperate with each other to revitalize the market for traditional liquor. Social enterprises that rely on a non-profit business model are likely to revitalize the traditional liquor market.

• East Asian Economic Review
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• 제25권3호
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• pp.273-309
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• 2021

The development of regulatory systems varies between transition and non-transition economies. This suggests that they provide different incentives for entrepreneurial development and could have varied effects on the economy because they have different methods to deal with market failure. However, limited empirical evidence exists to prove the assumption of dichotomy. Using comprehensive data for institutional quality, labor market and financial market development, this research sought to analyze their effect on employment growth at micro level. The results show that the quality of institutions in transition economies are poorer relative to those in non-transition economies, but their financial and labor markets are more developed than the latter. Further analysis for the transition sample shows that the three variables are individually positively related with employment growth. For the non-transition sample, institutional quality and labor market flexibility bear a positive and significant effect on employment. Financial market development enters the model with a negative coefficient when regressed alone, but a joint test of significance finds that all the variables have a positive effect on employment growth. This result could imply that there is interdependence between institutional quality, labor flexibility and financial market development in firm-employment-growth relationship, or complementarity between regulations and the quality of institutions. Alternatively, this finding suggests that a stringently regulated credit market in non-transition economies have a selection effect-allocating credit only to entrepreneurs who already demonstrate strong growth potential. In sum, despite differences in the evolution of regulatory environment between the two samples, both of them complement employment growth at firm level. The overall implication of these findings is that less rigid regulations and coherent policies that are enforced with impartiality provide incentives for firms to expand.

• Asia pacific journal of information systems
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• 제30권2호
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• pp.328-352
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• 2020

If a firm announces an investment in IT security, how the market value of its competitors reacts to the announcement? We try to shed light on this question through an event study design. To test the relationship, we collected 143 announcements on cybersecurity investment and measured the subsequent impact on 533 competitors' abnormal returns, spanning from 2000 to 2019. Our estimation results present that, on average, the announcements have no observable impact on the market value of announcing firms and competitors as well, which is consistent with findings of a prior study. Interestingly, however, the impact becomes evident when we classify our samples by industries (Finance vs. non-Finance or ICT vs. non-ICT) and firm size (Big vs. Small). We interpret our empirical findings through the lenses of contagion effect and competition effect between announcing firms and their competitors. Key finding of our study is that, for financial service firms, the effect resulting from the announcement on cybersecurity investment transfers to competitors in the same direction (i.e., contagion effect).

• 한국생활과학회지
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• 제15권3호
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• pp.373-384
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• 2006

This study analysed the effect of mothers' work status on time use in child care and use of market child care services. There were two major questions: Do self-employed (and family worker without being paid) mothers have a flexible work schedule and so can they care her child(ren) well? If it is true, is the work status as self-employee related to non-market child care services? To answer these questions, 1,196 samples were selected from the Time Use Data of 1999, which had been administered by Korea National Statistical Office. Major results were as follows: First, a mother who is family workers without being paid made time to care children frequently more than wage earners. Second, according to regression analysis, mothers' work status was one of the important variables to explain child care activity frequency. Third, among categories of child caring ('physical caring', 'non-physical caring', and 'caring of the others'), mothers spent more frequently in 'caring of the others', and had higher probability to use market child care services. But the more frequently a mother made time in 'non-physical caring' for her child, the lower probability to choose market child care services. In conclusion, it was certain that self-employed mothers benefit from a flexible time schedule at work places. But the relationship of child care activity frequency with use of market child care services was inconsistent.

• Journal of Korea Trade
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• 제25권3호
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• pp.65-86
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• 2021

Purpose - This paper empirically investigates the relationship between the corporate value chain and performance of non- financial businesses of South Korean stock market companies. It aims to explore the evidence that can be used to infer the relationship between value chains and corporate performance in the case of firms forming a value chain with other companies with the means of an equity investment or a special business relationship. Design/methodology - Non-financial corporations listed from 2011 to 2017 on the securities market of South Korea are analyzed. The data used for analysis are found for transactions with the related party by year for all the corporations of non-financial industries in the securities market. Multiple analysis attempts are conducted including the relationship between the value chain and productivity, corporate value, risk-adjusted corporate value, and mediation effects of productivity. The empirical model employs sixteen variables including the value chain index which identifies its impact on various aspects of business performances. Findings - The results of this study clearly supports the phenomenon that corporate productivity and value are enhanced when the corporation expands its value chain established with domestic related firms and overseas companies. Such a positive effect is statistically significant even after the possible risk factors that accompany the expansion of value chain were considered, and productivity plays the role as a medicating variable in the effect of the value chain on the corporation values. Originality/value - The findings of this study confirms that domestic companies' expansion of their value chain centered on the related firms overseas that helped them in terms of the maximization of their productivity and corporate values. This study shows that Korean government's policy on expanding the corporate GVC can enhance the productivity and value of firms. The expansion of value chain and its impact on business performance has not been explored thoroughly, although it is getting more and more important in the global trade operation.