• The Journal of Industrial Distribution & Business
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• v.12 no.3
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• pp.43-49
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• 2021

Purpose: This study attempted to examine the risk of stock price plunge according to the firm's management strategy. Prospector firms value innovation and have high uncertainties due to rapid growth. There is a possibility of lowering the quality of financial reporting in order to meet market expectations while withstanding the uncertainty of the results. In addition, managers of prospector firms enter into compensation contracts based on stock prices, thus creating an incentive to withhold negative information disclosure to the market. Prospector firms' information opacity and delays in disclosure of negative information are likely to cause a sharp decline in share prices in the future. Research design, data and methodology: This study performed logistic analysis of KOSPI listed firms from 2014 to 2017. The independent variable is the strategic index, and is calculated by considering the six characteristics (R&D investment, efficiency, growth potential, marketing, organizational stability, capital intensity) of the firm. The higher the total score, the more it is a firm that takes a prospector strategy, and the lower the total score, the more it is a firm that pursues a defender strategy. In the case of the dependent variable, a value of 1 was assigned when there was a week that experienced a sharp decline in stock prices, and 0 when it was not. Results: It was found that the more firms adopting the prospector strategy, the higher the risk of a sharp decline in the stock price. This is interpreted as the reason that firms pursuing a prospector strategy do not disclose negative information by being conscious of market investors while carrying out venture projects. In other words, compensation contracts based on uncertainty in the outcome of prospector firms and stock prices increase the opacity of information and are likely to cause a sharp decline in share prices. Conclusions: This study's analysis of the impact of management strategy on the stock price plunge suggests that investors need to consider the strategy that firms take in allocating resources. Firms need to be cautious in examining the impact of a particular strategy on the capital markets and implementing that strategy.

• Korea Trade Review
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• v.46 no.3
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• pp.119-133
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• 2021

After 'Zhou Chuchu (走出去, Go global)' in the early 2000s, and with the 'One-to-One Road' initiative in 2012, China's Overseas Foreign Direct Investment (OFDI) has increased significantly, resulting in high academic interest. The purpose of this study is to analyze the impact of national risks of home country on China's OFDI by using data from 49 countries along the 'One-to-One Road' between 2007 and 2018, and to compare the factors of national risks that attract investment from the world. As a result of the study, market economy companies' perceptions of national risks are mostly negative, so risk acts as a deterrent to investment. On the other hand, national risks of home countries have had positive effects on China's OFDI, which would mean that Chinese investors, mostly state-owned enterprises have a high tendency to invest in regions or countries with high national risks. Other economic factors, such as the size of the investment partner country's market, GNI per capita, and trade openness, had a positive (+) effect, and natural resources had a negative (-) effect on China's OFDI. As dummy variables, FTA, which is an economic and diplomatic factor, SCO, which is a political and diplomatic factor, and bordering which is a geographical factor, were also found to have a positive (+) effect. This study implies the investment pattern of China's OFDI is due to the characteristics of China's unique geopolitical and economic system, and it is judged to be influenced by political and strategic factors, especially the aspects led by state-owned enterprises.

• Journal of the Korea Convergence Society
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• v.11 no.1
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• pp.211-219
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• 2020

This paper examines in depth the UN's disaster risk reduction system and framework that affect a country's disaster safety strategy and focuse on identifying the global trends in disaster risk reduction that have emerged in the Hyogo and the Sendai Framework, a disaster risk reduction strategy proposed by the UN since 2000. For this aim it attempts a theoretical review based on collecting a variety of domestic and international literatures, draws meaningful implications and suggests alternatives to a national disaster risk reduction policy. According to the analysis, the UN disaster risk reduction mechanism is UNISDR, the Secretariat is UNDRR, and the SRSG represents it, and the Sendai Framework, developed from the Hyogo Code of Conduct, a global strategy which has been for disaster safety for the past decade, will lead global disaster safety for the next decade. The policy implications drawn from the analysis of both strategies are the emphasis on consistent international coordination, strengthening resilience and an integrated and comprehensive approach. In conclusion, this paper proposes the need for a disaster risk reduction strategy to establish a resilience reinforcement system to proactively identify and cope with risk factors and to minimize impacts, to promote the coordination of international coordination and cooperation at the government level.

• Journal of the Korean Regional Science Association
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• v.37 no.3
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• pp.3-18
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• 2021

The fourth Industrial Revolution is transforming the industrial structure of the region, and it is necessary to develop new industries and technologies that reflect regional characteristics. The purpose of this study is to measure the knowledge relatedness and technological complexity in Busan, Ulsan, and Gyeongnam, and to identify technologies with potential for regional industrial differentiation strategies. Using patent data from 2015 to 2019, co-occurrence matrices were derived from 652 IPC codes, and the knowledge relatedness density and technology complexity index were calculated. Network analysis was performed using the knowledge relatedness density. As a result of analysis, it was found that mechanical engineering occupied a large proportion, followed by chemistry and electrical engineering. As a result of applying the risk-benefit framework to derive technologies with the potential to differentiate local industries, the technological capabilities of low-risk-high-benefit were different. Among mechanical engineering, technologies such as engine, machine operation, and transportation were included in Busan. In Ulsan, environmental technology in chemical and materials, and heat treatment technology in mechanical engineering were technologies with low-risk and high-benefit capabilities. Gyeongnam showed competence in mechanical engineering, chemistry, and electrical engineering in some areas such as Gimhae, Yangsan, and Changwon. The results of this study are meaningful in that they identified technologies with potential for selecting and deriving strategic industries for regional growth based on latent knowledge in the region.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.1
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• pp.52-63
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• 2019

Biased performance implications are common in conducting empirical analysis on leading firms in strategic management field. Venture businesses in which successful and failing firms in the future are mixed in the present could provide a better discriminative result for examining the determinants of performance. We suggest hypotheses on how competitive strategy, CEO characteristics, and their interactions affect firm performance. We examine these hypotheses through empirical analyses on the basis of a survey collected from 387 venture businesses in order to assure the validity of strategic management theories by using more deviated data. Empirical results show that innovative differentiation from competitive strategies affects firm performance and innovativeness and long-term orientation from CEO characteristics affect firm performance. According to the results of the interaction analyses between competitive strategies and CEO characteristics, cost-leadership and marketing differentiation strategies have combination effects with risk taking, innovativeness, and long-term orientation, while innovative differentiation strategy has no combination effects with risk taking, innovativeness, and long-term orientation. We conclude that cost-leadership and marketing differentiation strategies have no direct effect on firm performance but have combination effects with CEO characteristics, while innovative differentiation strategy has direct effect on firm performance but has no combination effect. Our primary contribution is that we test and confirm that the fit between competitive strategies and CEO characteristics are an important consideration to increase firm performance in venture businesses.

• Journal of the Korean Society of Marine Environment & Safety
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• v.7 no.2
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• pp.49-65
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• 2001

Total Quality Management(TQM) is the source of competitive advantage for the enterprise faced with the dynamic change of the environment as the customer satisfaction era, unlike the past marketing era. It can have an effect on the strategical choice of the enterprise and becomes a new spotlight of management strategy in business administration recently with various techniques of organizational innovation, such as business re-engineering, benchmarking and so on. The TQM which has an essential part of a Risk Response Process is recognized as strategic aspects in Risk Management. TQM means the total management system that realizes management philosophy of customer satisfaction through continuous improvement and innovational thoughts on the basis of top-management＇s leadership and employees＇ involvement, policy of quality management, customer focus, development of human resources, empowered work forces, and supplier relationships. The data investigating the business performance effect of active factors in TQM based on the shipping firms were collected from 250 shipping firms in Korea by the use of questionnaire method and personal interviews at the selected samples.

• Journal of the Korean Society of Costume
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• v.60 no.8
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• pp.15-28
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• 2010

The purpose of this study was to investigate how gender role attitudes affect clothing involvement and clothing consumption behaviors in young female generation by changing the traditional sex role stereotype. For the research, the survey was conducted for a month from June 15 to July 15, 2009. Data was collected a total of 368 questionnaires from 20's female university students and analyzed 301 questionnaires with SPSS 12.0. The results were as follows. First, the results of factor analysis on gender role attitudes confirmed the multifactorial theory of gender schema: modern masculinity, conservative gender roles, modern feminity based on emotion, gender role openness, and traditional feminity. Second, gender role attitude of female university students was a little conservative but flexible to accommodate masculinity and active in the emotion expression. Third, gender role attitudes had important effects on clothing involvement which was identified into 4 different factors; fashion involvement, clothing interest, performance risk, and social psychological risk. Fourth, gender role attitudes were related with clothing consumption behaviors as like shopping orientation, on-going information search behavior and brand loyalty because of needs for innovation, exhibition and differentiation. Therefore, it was concluded that not only 'androgynous' from modern feminity based on emotion but also 'masculinity' was applied to important fashion marketing strategic tools by statically affecting female consumer's clothing involvement and clothing behaviors.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.1
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• pp.17-27
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• 2018

In 21^st Century business world, services are carried out in multifaceted, competitive and rationality manner that are characterized by evolving many factors, which are often unpredictable. On-the-go banking is a product in financial sector. However, it faces serious pitfalls being it riskiness. Bank customers compete for time-saving options. On contrary, PCBs compete for marginalizing its operating costs for enhancing its revenues. On strategic tactics, PCBs targets city customers in multi-facets including offering incentives for enhanced usages of on-the-go banking. Influencing customer's intention, attitude and behavior in banking, PCBs also offers incentive under market system along with often informational asymmetry. However, it causes exploitation. In most cases customers don't read terms & conditions of services. They don't save contract-copy. These weaknesses cause abuses. Customer faces hidden charges, extra fees, account hacked. Addressing the issue, Voluntary Insurance Option is proposed where PCBs will introduce it as a product of bank-services. Transferring risk away from customer will benefit both PCBs and bank-customers. This product can attract new customers who were on the brink using digital banking but just felt it was too risky. This model can facilitate the parties involved for increasing usage of on-the-go banking-services while customers can maintain optimal utility of usages.

• Safety and Health at Work
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• v.7 no.2
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• pp.143-149
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• 2016

Background: The industrial revolution that took place in the United Kingdom (UK) between 1760 and 1830 led to profound social change. Occupational medicine was concerned with the diagnosis, treatment, and prevention of occupational diseases, that is, diseases directly caused by exposure to workplace hazards. A similar pattern of development has occurred globally. Methods: A review of relevant literature. Results: The international conceptualization and development of occupational health occurred during the 20th century. A new paradigm for occupational health has emerged that extends the classical focus on what might be termed "health risk management" that is, the focus on workplace hazards and risk to health to include the medical aspects of sickness absence and rehabilitation, the support and management of chronic noncommunicable diseases, and workplace health promotion. Conclusion: The future strategic direction for occupational health will be informed by a needs analysis and a consideration of where it should be positioned within future healthcare provision. What are the occupational health workforce implications of the vision for occupational health provision? New challenges and new ways of working will necessitate a review of the competence and capacity of the occupational health workforce, with implications for future workforce planning.

• Journal of Information Technology Services
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• v.18 no.2
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• pp.97-121
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• 2019

In this paper, factors affecting intra-organizational diffusion of Big Data systems from the perspective of the Big Data system vendors have been analyzed. In particular, the theory of resistance against innovation that exists in some form before the adoption or rejection of innovation has been focused on. In order to do that, the resistance has been divided into three categories : postponement, rejection and opposition. The variables affecting each type are also divided into four independent variables : perceived risk, innovation characteristics, user attributes, and organizational attributes. As a result of the survey, it was confirmed that the influences of each variable are different according to the type of resistance. As the strength of the resistance was increased, the influence of the trialability was increased as well. As the strength of the resistance was decreased, the satisfaction with the existing system became more influential on the resistance. The time risk and the satisfaction with the existing system were found to affect all types of resistance. From the vendor's point of view, strategic implications are presented in terms of marketing or system development for diffusion, depending on the degree of resistance of the adopter.