Earticle

현재 위치 Home

Issues

기업경영연구 [Korean Corporation Management Review]

간행물 정보
  • 자료유형
    학술지
  • 발행기관
    한국기업경영학회 [Korean Corporation Management Association]
  • pISSN
    1229-957X
  • 간기
    격월간
  • 수록기간
    1994 ~ 2025
  • 등재여부
    KCI 등재
  • 주제분류
    사회과학 > 경영학
  • 십진분류
    KDC 325 DDC 658
제16권 제3호 (15건)
No
1

한국 마케팅 思考의 변천에 관한 연구

문병준

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.1-22

※ 기관로그인 시 무료 이용이 가능합니다.

5,800원

지난해 대한민국이 건국 60주년을 맞이하였고 그에 따라 한국 기업들도 60년의 역사를 갖게 되었다. 이러한 한국 기업사적 전환점을 맞아 본고에서는 우리나라의 마케팅 사고가 어떻게 태동되고 변천해왔는가를 회고하고 향후 전개방향을 전망해 보았다. 이를 위하여 국내외의 마케팅 사고의 학파에 관한 기존의 연구를 검토하였는데, Sheth와 Gardner(1982)가 제시한 6개 마케팅 학파분류와 Shaw와 Jones(2005)가 제시한 9개 마케팅 학파 분류체계가 마케팅 사고에 관한 연구들에서 가장 광범위하게 인용되는 분류체계인 것으로 분석되었고, 특히 Shaw와 Jones(2005)의 분류가 가장 최근에 제시된 분류체계인데다 타 학자의 분류체계를 포괄하면서 보다 세분화된 분류체계인 것으로 판단되어 본 연구에서는 이 분류체계를 채택하여 연구를 진행하였다. 본 연구에서는 이들 분류체계를 토대로 하여 국내의 마케팅 분야를 대표하는 학술지인 「마케팅연구」의 창간호부터 최근호까지의 전 22권에 게재된 총 400편의 논문과 동일한 기간 중 「경영학연구」 전 66권에 게재된 총 158편, 「한국마케팅저널」의 창간호부터 최근호까지 210편을 합하여 총 768편의 마케팅 논문에 대하여 각각 해당하는 마케팅 학파를 분류하고 한국 마케팅 사고의 변천을 분석하며 향후 과제를 검토하였다.

The Republic of Korea has the 60th anniversary last year and Korean companies have its 60 years history. At the turning point of this seminal history of Korean companies, this study retrospects the evolutions and trends of marketing thoughts in Korea and prospects future direction. To this end, it examined existing domestic and foreign studies regarding marketing thought schools. Resultantly, Sheth and Gardner(1982)’s six marketing schools and Shaw and Jones(2005)’s nine marketing schools classifications are perceived as most appropriate because they are and most comprehensive and quoted frequently by other studies. The nine marketing schools are as follows: marketing functions school, commodities school, institutional school, marketing management school, marketing system school, consumer behavior school, macro-marketing school, exchange school, and marketing history school. Based on these classification schemes, this study examined 400 papers published at 22 books of the Journal of Korean Marketing Association and 158 papers published at 66 books of the Korean Management Review, and 210 papers published at 36 books of the Korean Journal of Marketing, taken together 768 papers, and analyzed the history of marketing thoughts in Korea. The selection of journals to be analyzed may influence the result of the study significantly, thus it should be administered based upon a valid and reliable criteria. The citation index journals of marketing discipline cited by NRF(national research foundation) are as follows: Journal of Korean Marketing Association, Korean Journal of Marketing, Journal of Marketing Management Research, Journal of Global Academy of Marketing Science, Journal of Consumer Studies, Journal of Distribution Research, Advertising Research, Korean Journal of Advertising, Journal of Commodity Science and Technology, and Consumption Culture Study. This study selected and analyzed Journal of Korean Marketing Association and Korean Journal of Marketing which are published by the Korean Marketing Association, the leading academic association of marketing discipline in South Korea and Korean management Review published by the Korean Academic Society of Business Administration, the leading academic association of business administration discipline including marketing. The reason of choosing these journals are as follows: First, Journal of Consumer Studies, Journal of Distribution Research, Advertising Research, Korean Journal of Advertising, Journal of Commodity Science and Technology, and Consumption Culture Study are excluded because they specialized in a specific area of marketing rather than diverse areas of marketing. Second, Journal of Marketing Management Research and Journal of Global Academy of Marketing Science also publish papers of diverse areas in marketing, however, very unfortunately the authors couldn’t get the whole volumes of these journals. The analysis result shows that papers of consumer behavior school, the representative school of marketing after so called paradigm shift, occupied 41.7% in 1986, the year of inauguration of Journal of Korean Marketing Association, and they didn’t show any growth for the mean time, and recorded 52.6% share in 2004. In total, the papers of consumer behavior school has been showing the leading position by occupying 39.1%. Papers of marketing management school, another representative school in marketing occupied 16.7% in 1986, the year of inauguration of Journal of Korean Marketing Association, and increased into 41.7% and 50.0% in two consecutive years after the year and showed fluctuation between 20% and 40%. In total, the papers of marketing management school has been showing 35.8% share. These two leading schools has been occupying the majority position by recording 74.9% share. The analysis result also shows that papers of marketing functions school, commodities school, and institutional school, so called traditional schools, occupied relatively minor share. In addition, the result shows that papers of marketing system school, macro-marketing school, and exchange school, modern marketing schools evolved after the paradigm shift, also occupied minor share. The result urges a balanced development of marketing thought in the future. Implications for future directions of Korean marketing theory and practice are discussed.

2

BSI 변동성과 KOSPI 변동성의 관계

유한수

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.23-38

※ 기관로그인 시 무료 이용이 가능합니다.

4,900원

본 연구에서는 기업 경영자들의 기대에 있어서의 불안정성을 나타내는 BSI(Business Survey Index) 변동성과 주식시장의 불안정성을 나타내는 KOSPI 변동성의 관계를 분석하였다. 주가는 궁극적으로는 경제주체들의 기대에 의해 형성되기 때문에, 대표적인 경제주체라고 할 수 있는 경영자들의 기대를 나타내는 변수와 주가의 관계를 연구하는 것은 투자전략 수립에 있어 의미 있는 연구 분야가 될 것으로 생각된다. 본 연구의 특징은 관측변동성을 상태공간모형을 이용하여 추세 부분에 해당되는 영속적 변동성 부분과 순환적 부분에 해당되는 일시적 변동성 부분으로 분해하여 BSI 변동성과 KOSPI 변동성 간의 관계에 대하여 분석하였다는 것이다. 본 연구의 분석은 첫 번째 단계로, EGARCH모형을 이용하여 BSI 관측변동성과 KOSPI 관측변동성을 계산하였다. 두 번째 단계로, 상태공간모형과 칼만필터링을 이용하여 BSI와 KOSPI 각각의 영속적 변동성과 일시적 변동성을 추정하였다. 세 번째 단계로, 단위근검정을 거친 다음 각 변동성 간의 관계를 분석하기 위하여 그랜저 인과관계 분석을 하였다. 네 번째 단계로, 충격에 대한 각 변수들의 시간에 따른 반응결과를 분석하기 위하여 충격반응분석을 하였다. 그랜저 인과관계 분석에서는 관측변동성, 영속적 변동성, 일시적 변동성 모두에 있어서 BSI와 KOSPI 간에 양방향 그랜저 인과관계를 갖는 것으로 나타났으며 충격반응분석에서는 일반적으로 BSI 변동성과 KOSPI 변동성 간에 서로 정(正)의 관계가 있는 것으로 나타났다.

This paper examines the relationship between BSI volatility and KOSPI volatility. BSI indicates economic conditions and trends for the near future. Business survey information reveals expectations of economic agents. Stock price is the present value of expected future cash flow stream. Because expected future cash flows are influenced by expectations of economic agents, BSI and KOSPI may be related each other. Prior studies investigate the relationship between the first moment of BSI and the first moment of KOSPI. This study is distinguished from prior studies in that it investigates the relationship between the second moment of BSI and the second moment of KOSPI. And another contribution is investigating the relationship between BSI permanent volatility and KOSPI permanent volatility and the relationship between BSI transitory volatility and KOSPI transitory volatility. The summary statistics show the standard deviation of BSI is higher than that of KOSPI. Excess kurtosis is observed in each series, and the Jarque-Bera normality test reveals non-normalities of two series. Therefore, GARCH type model is appropriate for analyzing these data. The procedure used in this paper involves the following steps. First, in order to estimate BSI observed volatility and KOSPI observed volatility, EGARCH model is employed. Because the autocorrelation coefficient of data is not significantly different from zero, the mean equation in EGARCH model does not contain AR(1) term or MA(1) term in each model. In estimated EGARCH model, it turns out that the coefficient of the asymmetric volatility term is statistically significant. In estimated EGARCH model, (alpha) coefficient in the variance equation is smaller than one. Therefore, each estimated conditional variance series is stationary. Second, to decompose observed volatility into permanent volatility and transitory volatility, this study employs state space model. State space model is useful in analyzing a time series model that involves unobservable variables. A state space model consists of two equations, namely, a measurement equation and a transition equation. Measurement equation describes the relation between observed variables and unobserved variables. Transition equation describes the behavior of unobserved variables. In this study, observed volatility calculated by EGARCH model is observed variable, and permanent volatility and transitory volatility are unobservable variables. Permanent volatility is the long-run component and is modeled as a random walk with drift. Transitory volatility is the short-run component and is modeled as a stationary process because it passes away with time. Third, to test for the existence of unit root, ADF test is used. The appropriate lag order is determined by the SIC. ADF test results show that observed volatility and transitory volatility are stationary series, and permanent volatility is nonstationary series. Therefore, in the cases of observed volatility and transitory volatility, raw data is used in this study. Because BSI permanent volatility and KOSPI permanent volatility are found to be unit root processes, the next step is to check the cointegration between BSI permanent volatility and KOSPI permanent volatility. I use Johansen cointegration tests to examine the existence of long-run relationship. If the series are found to be cointegrated, Granger causality in a VECM should be applied. If a time-series of system includes integrated variables of order one and cointegrating relations, then this system can be more appropriately specified as a VECM rather than VAR. But, if there is no cointegrating relation between variables, they are to be transformed to stationary process by differencing the series. Because Johansen cointegration tests show BSI permanent volatility and KOSPI permanent volatility are not cointegrated, they are to be transformed to stationary process by differencing the series. The null hypotheses of a unit root are rejected at 1% significance level when they are in first differences. Fourth, to examine the lead-lag relationship between BSI volatility and KOSPI volatility over the data from January of 1990 to June of 2008, this study employs the Granger causality test. Granger causality test is a useful statistical technique to help examine the direction of causality. Each pair of volatilities has different characteristics. In the cases of observed volatility and transitory volatility data, they are found to be stationary series. Because there is not a unit root, Granger causality test based on a VAR is applied. On the other hand, in the case of permanent volatility, it is found to be nonstationary and they are not cointegrated, Granger causality test based on a VAR is applied using differenced data. The Granger causality tests show that, in all cases of volatilities, there are two-way Granger causalities between BSI and KOSPI, in line with general belief. Permanent volatility is the trend component of observed volatility. As expected, there are two way Granger causalities between BSI permanent volatility and KOSPI permanent volatility. Transitory volatility is the cyclical component of observed volatility, that is, it is the short-run portion and passes away with time. The empirical test result shows that there are two way Granger causalities between BSI transitory volatility and KOSPI transitory volatility. This means that the cyclical portion of KOSPI volatility is influenced by the cyclical portion of BSI volatility. Fifth, the impulse response function analysis is applied to trace out the time path of the various shocks on the variables. The results exhibit that BSI volatility shock increases the magnitude of KOSPI volatility in general. KOSPI volatility shock also increases the magnitude of BSI volatility from lag 1 to lag 6 in all cases of volatilities. In short, the empirical evidence of this study suggests that BSI volatilities help to estimate KOSPI volatilities. Therefore, analyzing the BSI volatilities is crucial for risk management of KOSPI related financial instruments.

3

5,500원

본 연구는 노동조합활동에 대한 보다 구체적인 개념적 구성을 통해 각 활동에 대한 우선순위에 대하여 공공부문을 중심으로 분석하였다. 이로서 향후 노동조합활동에 대한 연구의 기반을 마련하고, 분석을 통해 확인된 우선순위를 활용하여 노사관계 전략 수립과 발전적 노사관계 구축을 위한 연구기반 형성에 일조하고자 하였다. 연구 분석은 노사관련 연구소의 연구원 및 공공부문 기업 내 이해당사자인 노동조합, 사용자측, 조합원을 대상으로 델파이기법과 AHP기법을 적용하여 실시하였다. 본 연구는 전문가 조사를 통해 노동조합 활동을 임금 및 단체협약, 정치참여, 경영참여 세 가지 대분류로 구성하였으며, 각 분류의 하위활동을 포함하여 총 13개 활동으로 분류하였다. 전문가 조사를 통해 구성된 13개 활동에 대해 노동조합, 사용자측, 조합원 각 그룹별로 우선순위를 확립하였으며 연구결과의 요약은 다음과 같다. 첫째, 공공부문의 노사관계는 임금 및 단체협약에 가장 많은 우선순위를 두고 있는 것으로 확인되었다. 둘째, 노사관계에서 신뢰형성 및 우호적 관계가 차지하는 중요성이 확인되었다. 셋째, 현재 교섭방식의 문제점 및 경영참여에 대한 노사 간의 인식차이를 확인하였다. 넷째, 공공부문에서는 정보비대칭으로 인한 문제는 없으나 경영참여에 대해서는 노사간 이견이 있는 것으로 확인되었다.

In this study, we took a close look at the priorities in labor unions’ activities of public sector by establishing a more concrete definition of general labor union activities. Because clear definition for the labor union activities and a discussion were lacking in existing study. Therefore, this study tried to discussed it for labor union activity through the set AHP(Analytic Hierarchy Process) model It aims at laying a foundation for the future studies on labor union activities and provide a guideline for building strategies to establish appropriate Labor-Management relationships by using the priorities found from the study, and fundamentally seek for directions to productive Labor-Management relationships. A total of 62 participants completed the survey. Those who participated in the survey were researchers in labor-management research centers, and union leaders, its rank and file and the management in public sector organizations. Delphi and AHP were employed for analysis. The AHP is decision making methodology to use by one alternative plan after considering knowledge, intuition, and experience of the experts. The union activities were divided, in consultation with experts, into three categories - wage and collective agreement, participation in politics and management. Each category was further broken into several sub-activities and all combined were 13 activities. Wage and collective agreement are divided into two incomes such as mutual relationship and realistic income. For realistic income, it is divided into four items such as wage, benefits, rights of labor-management, and bargaining costs. Political Activity is divided into four activities such as strike, legislation support through a political party, bargaining with government through an upper federation, and holding a public hearing. And for the last participation in management is divided into four items such as sharing information, participate in decision making, autonomy of work, and joint labor-management conference. The priorities were classified by group-union leaders, its rank and file, and the management. The findings of the study are as follows: First, all the groups put wages and collective agreement on the top priority. Each group showed the importance of wage and collective agreement-labor union with 48.6% of labor union activities, management with 52.5% of labor union activities, and union member with 53.6% of labor union activities, then, it is confirmed the wage and collective agreement is crucial in public sector’s labor management relationships. Second, it was confirmed that there is a significant importance in mutual trust and friendly setting for constructive Labor-Management relationships. In particular, negotiator group showed high level of importance of labor union activities. Therefore, it is confirmed that the mutual relationship income is playing more important role compare to realistic income. ; Because of Public sector’s work conditions were decided by government, public sector’s union is prefer to expand their share rather than insist to improve their work conditions. Third, the problems which owned by the public sector’s bargaining system were confirmed. Public sector’s union bargain with employer, but substantial employer is the government itself. Because of almost work conditions were decided by government. However, there are many limits to show a function because bargaining with government is broken off. Fourth, it was confirmed that there is a significant importance in political activity. Unlike the private sector, public sector’s political activity has many function such as legislation support through a political party, Get together with speciality of the public sector, the representative of the company has a limit to decline a meaning of the government. However, labor union has the ability that can solve the things through a political activity. And it was also found that there is no problem regarding information asymmetry but there is a disagreement for participation in management in the public sector. The management side is low for participation in management in comparison with labor union and the member, because appeared in what placed more weight on, and the management had the sight that was negative for participation in management of the labor union as ever, was confirmed. Most labor-management dispute takes it like this in a point to begin with participation in management exclusion of the labor union, this trouble company relations of the public sector can be said to have potential problems. This study has several limitation of concerns relates to sampling issues. The sample size of 62 was relatively small considering the social science area. In addition, the sample was limited to Federation of Korean Trade Unions. Therefore, it would be valuable to replicate the present study with a larger and more representative sample. This study considered an literature review for labor union’s activity through the investigation of the expert in a base, and it was proof analysis in the part which the interest people concerned of company put a focus for such an activity substantially. And this study is to have made a searching examination for activity of the labor union which can utilize substantially on the labor-management relationships. It was going to grope for activity and a base for the related study with organizational effectiveness. Therefore, we suggest some future research by the result of this study in a base causation between each activity, negotiation strategy, satisfaction by it. And the effect of labor union’s activity on organizational performance with adds various variables such as objective index. Such a study is useful in not only the labor-management study but also in the organization, and it may be inflected.

4

대형펀드의 성과저하 요인에 관한 연구

이덕훈, 홍동현, 이미영

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.59-75

※ 기관로그인 시 무료 이용이 가능합니다.

5,100원

펀드규모가 커지면 대량거래가 많아지고 이에 따라 유동성비용 등 소규모펀드에서는 나타나지 않았던 거래비용이 발생할 수 있다. 대형펀드의 펀드매니저들이 거래비용을 줄이기 위하여 기존의 펀드운영전략을 수정한다면 이에 따라 펀드성과에 부정적인 영향이 발생할 수 있다. 본 연구는 펀드규모가 커짐에 따라 나타날 수 있는 거래비용 및 이러한 거래비용을 회피하려는 노력이 성과에 어떠한 영향을 미치는지 실증분석하였다. 총체적인 분석의 결과에서는 펀드의 대형화에 따르는 거래비용의 유의한 증가 양상을 발견하지 못했으나 펀드를 투자스타일과 선호하는 보유종목별 스타일로 세분하여 분석한 결과에서는 가치주 투자 위주의 펀드와 중소형주 또는 혼합주를 주로 보유한 펀드의 경우 자금유입으로 인한 대형화에 따라 거래비용이 유의하게 증가함을 발견할 수 있었다. 또한 펀드 대형화에 따른 거래비용을 회피하기 위한 실행수단에 대한 분석에 있어서는 총체적인 분석 시 대형주 보유율을 줄이고 신규종목을 추가하는 등의 방향성을 볼 수 있었고, 다시 펀드의 규모별로 세분하여 분석한 결과에서는 대규모 펀드일수록 대형화에 따르는 거래비용의 체증을 회피하기 위해 위와 같은 운용방법을 실행하는 현상을 유의하게 관찰 할 수 있었다. 이에 대한 실무적 해석은 장기적으로 펀드의 대형화가 진전됨에 따라 주식종목은 포트폴리오에 지속적으로 추가되어 펀드매니저의 주식선택능력은 “평준화” 되고 이에 따라 펀드의 인덱스화 성격이 나타날 수 있다는 것이며 펀드의 인덱스화 현상은 장기적인 펀드성과에 방해가 될 수 있다는 것을 의미한다.

In Korea, many people are experiencing the era of fund-capitalism. We think this is mainly due to the flooding of global capital into korean capital market, after the complete openning of capital market followed by foreign currency crisis. The portion of foreign capital in korean capital market indicates 51.2% of mutual funds, 21.0% of bank, security brokerage company, insurance company, 9.8% of pension and fund company, 2.3% of hedge fund company, 14.9% of etc, 29.1% totally, by 2005. Fund industry is expanding the its’ volume and category mainly with the tendency of low interest rate by government since 2002, growth of national pension service and retirement annuty followed by acceleration of old age quake, and growth of indirect investment market. Total volume of fund industry indicates 130 trillion won by mar. 2008 with 129 trillion won net asset value, 46 trillion won equity fund by 2006, with one of them 4 trillion won. So, many researchers and practitioners are interested with growing fund industry especially with the relation of volume and performances. But it is not easy for us to conclude whether size of fund affects the performance positively or negatively. Elton, Gruber and Blake, 1996, Indro et al., 1999, Jan and Hung, 2004 insisted and testified that bigger funds have advantage to get better performances. Grinbaltt and Titman, 1992, Dahlquist and Soderlind, 1999, vice versa. In Korea Suh et al., 2008 testified the non linear relation of size and performance of funds. Many research have insisted the economy of scale as fund grows. They tried to find the evidences from declining unitary transaction, investigating, administration cost as fund grows, and this will help funds make better performance. Other researchers tried to find the evidences of increasing unitary cost of transaction from market impact within block deal, information asymmetry, increasing buy-sell spread etc. And with this, they try to assert fund will experience diseconomy of scale. In this study, we are trying to find the evidence of non linear relation between size and performance of fund, from well-known phenomena like these. Firstly, managers of large fund know that block deal can cause higher transaction cost as fund grows larger. Secondly, they can try to postpone or not to execute transaction, And they can change the ingredients of their basket of portfolio with blue-chip stock or new entry. Thirdly, not doing transaction or change of portfolio can be harmful to the performance of fund. We gathered 794 total samples of fund operation reports, and these are from stock funds of Apr. 2004 to Jun. 2006 period in korea. With market-micro structure analysis, we tried to find and measure the explicit and implicit transaction cost within turn-over rate, and to verify the nonlinear relation between size and performance of funds. Our findings are as follows; Firstly, fund size can make a large transaction cost from block trading. Fund managers may cause a negative effect on fund performance because of an opportunity cost such as preventing from market impact cost. We made an empirical research to find factors to make a transaction cost and could find 2 major results. Secondly, analyzing from grouping funds with operating style, value based investing funds and middle size company preferring funds experienced accelerating increase of transaction cost significantly. This means that fund managers have considerations of reducing cost by style of funds. Thirdly, when we divided funds with measure like preferred size of company by funds and number of companies those funds hold, fund managers were seemed to decrease weight of large companies and to invite new companies into portfolio baskets of funds as size of funds become larger. We translate these phenomena as various effort of fund managers to decrease transaction cost of their funds. Empirically, these results made us expect to cause funds to become normalized index funds in the long-run as size and portfolio baskets of funds grows, because the ability of fund managers to pick a undervalued companies become normalized.

5

6,700원

본 연구는 삼성 공채사 50년에 대한 시대적인 전개과정과 특징 및 한국 취업문화에 공헌한 기여도 분석에 관한 논문이다. 한국 공채사를 주도해온 삼성은 취업문화의 하위요소인 공채문화(기업), 진로문화(대학), 직업문화(대학생) 등에 걸쳐 직접적인 기여를 해온 것으로 분석됐다. 삼성 공채사의 전개과정은 산업환경 및 취업환경의 변화와 맞물려 도입․조정기, 발전기, 전환기로 구분되며 모두 네 번의 채용개혁을 단행했다. 삼성 공채사의 전개과정과 특징을 요약하면 다음과 같다. 도입․조정기(1957~1994)는 삼성 공채문화가 형성되는 시기이자, 한국 취업문화의 구성요소 태동에 영향을 미치는 시대였다. 발전기(1995~2001)는 한국 취업문화의 본체를 구성하는 하위문화 요소들을 본격적으로 출범시키는 시대였다. 전환기(2002~2009)는 글로벌 인재육성과 글로벌 기업실현을 위해 종합적인 인재평가 에 주력하는 시대였다. 삼성 공채사가 한국 취업문화에 공헌한 기여점과 시사점을 집약하면 다음과 같다. 첫째, 한국 기업사회의 공채문화를 선도하고 주도했다는 점이다. 둘째, 대학사회에 취업진로교육의 중요성 인식에 직접적으로 기여했다. 셋째, 인재제일주의 공채․기업문화로 초일류기업을 실현했다는 점이다. 넷째, 기업사회내 기업이미지 조성환경에 선구자적인 역할을 했다. 다섯째, 대학사회에 대기업 일변도의 취업의식조성에 영향을 미쳤다. 본 연구는 선행연구가 취약한 상황에서 삼성 공채사의 전개과정과 특징 및 한국 취업문화에 공헌한 기여도에 관해 선험적인 기법을 통하여 체계적으로 접근, 분석했다는 측면에서 연구의 의의를 두고자 한다.

This study is an analyzing thesis that Samsung has an effect on Korean employment culture and contribution. Samsung which has been leading Korean recruiting about 50 years is analyzed that has contributed for employment culture’s factors such as employment culture, career culture, and occupation culture. Samsung’s recruiting culture has made employment revolution according to change in industrial environment and employment environment. The development process of Samsung employment is divided to introducing period, rowing period, developing period, and turning period. During the 50 years employment history, Samsung made 4 step employment revolution and, in 90’s century, Samsung made reform 3 times. It clearly shows that Korean employment culture has developed very quickly in 90’s century. The developing process of Samsung employment’s characteristics are simply like that. The introducing period and rowing period(1957~1994) were the time when Samsung employment was formed and the factors of Korean employment culture was formed. It could not have standardized recruiting system, but there was basic factors test, practical interview, and officers interview. Industrial environment of this period can be summarized as Korean War, developing economy, graduation limitation, and economic democratization. At that time, a lot of large enterprises appealed, but they were not enough for extremely increasing university graduates. The developing period(1995~2001) was the time when the subordinate factors which organize the body of Korean employment culture were appealed. Especially, after middle of 90’s century, the appearance of open employment, IMF landslide, and new recruiting way which had huge influence to enterprises and university made new employment culture, totally different with existing one, to recruiting culture of enterprises, career culture of universities, and occupation culture of students. The turning period(2002~2009) was the time when they focused on general competent person evaluation(new interview way) for upbringing global competent people and being realizing global enterprises. The appearance of new interview way was a chance to turn into deep interview for Korean enterprise society. Especially, Samsung reinforces the ability to use foreign language when they try to make employment these days for whole members’ capacity reinforcement. Samsung’s characteristic in this period was visibly appealed among employment process of domestic large enterprises. The next thing is a 4 step recruiting revolution field of Samsung. Samsung makes change in human resource management when the CEO changes the core values. The first recruiting revolution was in 1994 for ‘genius management’. 1 step recruiting revolution can be summarized as simplifying the document for employment and eliminating subjective factors during the interview. Actually, the application form of Samsung is the simplist among Korean large enterprises. Eliminating subjective factors during the evaluation is also outstanding. For this, Samsung totally replaced from alma master and GPA to free-data interview way. 2 step recruiting revolution can be focused on open employment. Open employment was the way to abolish an evil academic clique spread situation in Korean recruiting culture. It was a chance to turn into from scholarship society to capacity society. The core factors of open employment are abolishing scholarship limitation and sexual differentiation, and SSAT for evaluating general thinking ability and potentiality of development. The 3 step of recruiting revolution happened after IMF. After IMF, regular recruiting on large scale and general person was changed into irregular recruiting on small scale and special person by the new way to recruit for improving competitive power of slimized enterprises. The 4 step recruiting revolution is new way to interview. The new way to interview was a plan to reflect Samsung’s will to employ global competent person for competitive power of the enterprise in very flexible international enterprise environment. This was a turning point for changing Korean enterprises way to interview to new way and, according to this, domestic large enterprises use various way to interview. Samsung’s recruiting culture has changed by various factors which have influences on enterprise environment nationally and internationally. Samsung’s recruiting history which was the first private enterprise using regular employment was the origin of Korean recruiting culture and the body of forming employment culture. Its characteristics are changing the development process every turning point of industrial environment and expressing the CEO’s philosophy of a man of ability as a recruiting revolution. Samsung’s recruiting history has contributions and suggestions are simply like this. First, it led Korean recruiting culture. Samsung made recruiting revolution 4 times through introducing period, rowing period, developing period, turning period. Every recruiting revolutions were the body of Korean recruiting culture and they have a huge effect on the recruiting system of other enterprises. Second, it contributed directly to university society to recognize the importance of employment and career education. Especially, open employment(1995) and new way to recruit(1999) made domestic university society making an office about employment and realizing the importance of employment and career education. Third, it realized the best enterprise by stressing the importance of a man of ability. Samsung’s management principle and philosophy contained the human resource philosophy which points to importance of a man of ability. This is directly transfered into Korean recruiting culture. Forth, it was the role model for environment making enterprise image in enterprise society. Samsung turns into perfectly global enterprise by continuous society service business and innovative management strategy. It can be found in research about preference of enterprise for university students after 1988. Fifth, it has a huge impact on making employment consciousness focusing on university society and large enterprises. After 1990’s century, Samsung has been in good position of enterprise image and preference of enterprises in global village. This various better positions than other enterprises have a huge impact on work place philosophy and taking triangular position of career mental in Korean society. This research uses not empirical analysis but general searching study methods such as literature investigation, face to face interview, filed study, and survey research. Therefore, it has some limitation of exploration study because it is not an empirical article which based on an assumption and statistically proved. Especially, the sample objection of human resource managers are limited on 50 enterprises, the research objection of university students are limited in 6 areas, and the status and grades of research objection are over valuated in some samples. Clearly, these are limitation of this research. However, this research has meaning for illuminating the development process and characteristics, and also, analyzing the contribution of Korean employment culture by transcendental way generally and systematically about employment culture, recent Korean society’s the best interest.

6

관료조직 구성원의 감정노동 수행전략의 선행요인과 결과에 관한 연구

노명화, 권상순, 박정훈

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.105-123

※ 기관로그인 시 무료 이용이 가능합니다.

5,400원

본 연구는 감정노동 수행전략의 선택에 영향을 주는 선행요인과 결과에 관한 것으로 특히, 감정노동 수행전략에 영향을 주는 개인특성 변수로 개인의 자의식의 영향정도를 살펴보았으며, 이러한 관계가 조직몰입과 이직의도에 미치는 효과를 살펴보았다. 감정노동 수행전략으로 고려된 변수들은 감정억압, 감정연기, 실제감정 등이며, 자의식은 사적자의식과 공적자의식에 대하여 살펴보았다. 연구대상은 공군부사관을 대상으로 하였다. 연구결과 개인의 자의식에 따라 감정부조화에 미치는 영향과 유형에 차이가 나타났으며, 감정부조화의 유형에 따라 조직몰입과 이직의도 역시 그 효과가 다른 것으로 나타났다. 기존의 감정노동에 관한 연구들이 주로 서비스업종에서 고객과의 관계에서 발생하는 상황을 고려하였으나, 관료조직 내부의 구성원 상․하 간 관계에서도 발생할 수 있다는 점을 확인하였다는 데 의의가 있다고 하겠다. 또한 감정 부조화의 선행요인으로 고려되던 다양한 성격특성 중 기존 연구들에서 고려되지 않았던 자의식이 조직 내 감정노동의 연구에서 의미 있는 선행변수임을 확인한 점도 본 연구의 주요 성과라 하겠다.

Emotions have been getting much attention in industrial/organizational(I/O) psychology and management fields in the past two decades. And more and more organizational researchers are interested in the topics of emotions and its relationship with organizational behavior. One area within the emotional arena receiving increased research attention is emotional labor, management of feeling to create a publicly observable facial and bodily display. In recent years, there have been increasing numbers of studies in the area of emotional labor, especially in service industries which embody sanctioned norms concerning the appropriate display of emotion. The main purpose of this paper is to investigate the relations between self-consciousness and emotional labor strategies, and futhermore to verify the effects of emotional labor on attitudes of organizational members in bureaucratic organization. The empirical study has been done using data collected from 262 NCOs(Non-Commissioned Officers) in ROKAF(Republic of Korea Air Force) as a bureaucratic organization. Twelve hypotheses were set up and tested. First, private self-awareness of organizational members is positively related to suppressed display of emotions. Second, private self-awareness of organizational members is negatively related to faked display of emotions. Third, private self-awareness of organizational members is negatively related to genuine display of emotions. Fourth, public self-awareness of organizational members is negatively related to suppressed display of emotions. Fifth, public self-awareness of organizational members is positively related to faked display of emotions. Sixth, public self-awareness of organizational members is positively related to genuine display of emotions. Seventh, suppressed display of emotions is negatively related to organizational commitment. Eighth, faked display of emotions is negatively related to organizational commitment. Ninth, genuine display of emotions is positively related to organizational commitment. Tenth, suppressed display of emotions is positively related to turnover intention. Eleventh, faked display of emotions is positively related to turnover intention. Twelfth, genuine display of emotions is negatively related to turnover intention. The items which related to self-consciousness, emotional dissonance, commitment and turnover intention were analyzed using principal component factor analysis with varimax rotation. The factor analysis identified two factors for self-consciousness, which are private self-consciousness and public self-consciousness. And three factors for emotional labor, suppressed, faked, genuine display of emotions, were found from factor analysis. The Cronbach alphas obtained for all the scales used in this study ranged from .823 to .887. To test the hypotheses, multiple regression analysis was conducted. Age, rank, job category and tenure were controlled in the model. The results of the research are follows. First, private self-consciousness has positive effects on both faked and genuine display of emotions while private self-consciousness has no effects on suppressed display of emotions. Second, public self-consciousness has positive effects on both suppressed and faked display of emotions while public self-consciousness has no effects on genuine display of emotions. Third, suppressed display of emotions has negative effects on organizational commitment while genuine display of emotions has positive effects on organizational commitment. However, faked display of emotions has no impacts on organizational commitment. Fourth, both suppressed and faked display of emotions have positive impacts on turnover intention while genuine display of emotions has negative impacts on turnover intention as hypothesized. In summary, the empirical result shows that the type of emotional labor depends on the type of individual self-consciousness. And it also indicates that attitudes such as commitment and turnover intention varies according to the type of emotional labor. The test results, shown as opposite from hypotheses, might be due to the military characteristics. That is, military members could possibly follow the norms required by the military regardless of their type of self-consciousness. Two important implications of this study are presented. First, self-awareness, which has not been used so far in previous studies, is proved to be an important individual characteristic variable predicting the type of emotional labor strategies. Second, all studies regarding emotional labor have been executed across various types of service sectors which are characterized by lateral relations. However, this study has focused on bureaucratic organization which are typified by the principles of hierarchy and of levels of graded authority. The possibility of emotional labor has been explored and found in a military sector as a typical bureaucratic organization. In the future,, more studies on how to efficiently manage emotional dissonance in bureaucratic organizations are needed. And in future research, more various type of military member must be included in the research sample to generalize the test results of this study.

7

5,100원

본 연구는 경쟁우위, 입지우위 및 협력우위가 한국 중소제조기업의 수출성과에 미치는 영향을 분석하였다. 연구결과 수출기업과 외국바이어 간 협력우위가 수출이익률과 성장률에 유의한 정의 영향을 미치는 것으로 나타났다. 한편, 경쟁우위는 수출성장률에 유의한 영향을 미치는 것으로 나타난 반면, 입지우위는 수출이익률과 상대적으로 더 유의한 영향을 미치는 것으로 나타났다. 이러한 연구결과는 경쟁우위와 입지우위 외에도 협력우위가 수출 성과에 미치는 영향력의 중요성을 일깨워 준다. 따라서 특히 중소수출기업은 외국 바이어와 시장조사, 제품기획 및 개발, 판매 및 유통, 촉진, 비용절감, 품질증진 등에 걸쳐 다양한 협력을 통해 시장기반을 공고히 할 필요가 있다

This paper assesses the influence of ‘competitive-location-cooperation advantages’ on the export performance of small and medium-sized Korean manufacturing firms. Among these three types of advantages, we specially focus on the role of the cooperation advantages under conditions of close ties with foreign buyers. Due to the recent rapid decreases in the technology gap among firms and countries on one hand and the increases in access to any foreign markets with economic liberalization on the other hand, firms should seek cooperation advantages in order to secure export performance. On the basis of our analysis of 114 Korean exporting companies, it was found that close cooperation between Korean exporters and their foreign buyers exerts a significant positive effect not only on export profits but also on export sales growth. It was also noted that as a key component of competitive advantage, the price advantage exerts a significant positive effect on both export profits and sales growth, whereas the differentiation advantage(i.e., product quality and design) does not have any significant effect on export performance. In addition, as a location advantage, the competitive intensity of local foreign market was determined to exert a significant negative effect on both export profits and sales growth, whereas local market size exerts a significant positive effect only on export profits. In general, our findings bolster the notion that both competitive advantages and location advantages are prerequisites for successful exporting. Finally, the findings of no significant effect of control variables, such as firm size, export experience, product and industry types, on export performance suggest that firms must maintain an aggressive involvement in exporting, regardless of their size, previous export experience, and product and industry types. Indeed, the majority of exporters face resource constraints with tense global competition. In this regard, small and medium-sized exporters should take into account the generation of cooperation advantages under conditions in which close ties exist with the firm’s foreign buyers in addition to competitive and location advantages. This argument is strongly bolstered by the finding that a close cooperation with foreign buyers plays important roles in both export profits and sales growth. This finding also implies that exporters should deal with foreign buyers from the standpoint of a long-term partnership rather than a short-term transaction. In this process, it is necessary for exporters to develop various cooperation activities with foreign buyers across dimensions including market research, product planning and development, marketing and distribution, promotion, cost reduction, and quality improvement.

8

소규모 지식기업의 창업 성공요인에 대한 탐색적 연구

이길형

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.143-162

※ 기관로그인 시 무료 이용이 가능합니다.

5,500원

지식정보화사회로 표현되는 21세기로 들어서면서 다양한 아이디어와 현장에서의 전문적 경험을 활용하여 지식기반형 소기업들의 창업이 지속적으로 증가하고 있다. 그러나 소규모 지식기업에 대한 학문적 연구는 아직 부족한 상태이다. 본 연구는 소규모 지식기업들의 창업 성공요인과 그 배경에 대한 탐색적 연구를 수행하였다. 3개의 성공적인 소규모 지식기업들에 대해 1차적으로 구조화된 설문지를 활용해 기초 자료를 수집하고 2차 인터뷰를 실시하였다. 사례연구 결과 기존의 연구들과 일부 상이한 내용들도 발견되었다. 창업자의 개인적 특성 중 성취 욕구와 위험감수 성향은 높은 수준은 아닌 반면 사업에 대한 비전과 목표는 매우 명확하였다. 창업자의 경험 역량과 사업 운영 역량은 모두 높은 수준이었으며 사업아이템의 시장성과 차별성은 모두 높은 수준이었지만 수익성은 사례에 따라 다양한 결과가 나타났다. 조직적 요인 중 자금확보는 영향 수준이 모두 낮은 것으로 나타났고 사전 준비 정도와 조직문화의 영향 수준은 모두 높은 것으로 나타났다.

In recent years, the small knowledge-based firms have been increasingly established under favor of the creative ideas, practical experiences and professional knowledge of the entrepreneurs. There are not enough researches related to the small knowledge-based firms. This case study investigates what the critical success factors of the small knowledge-based firms are and how the factors impact the performances of the firms. In order to research the questions, the case study methodology of Yin was used. It is regarded relatively more rigorous case study method than others. The conceptual research model was set up to improve the efficiency and reliability of the research work. This research model shows selected independent factors which would be investigated through the research work. The factors are categorized into four groups; the characteristics of entrepreneur, the competences of entrepreneur, the competitiveness of business model, and the factors of organization. There are two factors in the characteristics of entrepreneur; the personal characteristic of entrepreneur and the vision and goal of entrepreneur. There are two factors in the competence of entrepreneur; the experiential capability and the business management capability of entrepreneur. There are three factors in the competitiveness of business model: the marketability, the profitability, and the differential competitiveness of the business model. There are three factors in the factors of organization: the amount of initial capital, the levels of preparation, and the organizational culture. Three outcome factors were selected: the growth of total sales, the rate of profitability, and the increasing of employee number. At first, the structured questionnaire was used to collect preliminary data and then interviews with the entrepreneurs of the three case study firms were executed based on the collected data from the questionnaires. The questionnaire was designed in the form of five Likert-type scale and to gather the descriptive comments in addition. The interviews were done on average two or three hours every visit and two or three times for each case firm. And additional data was collected through several calls. Three case firms were selected by the recommendation of the Korea SOHO and small business association. The number of case study firms was controlled into three in order to execute the in-depth study. Two of them are business service firms and the rest one is education service firm. Rehoboth was established in 1998 and capitalized at 35 million Won. The sales average of the recent three years is about 2 billion Won and the average profit ration is 7%. The number of employee increased from 3 to 21. Creven Academy, Inc. was established in 2003 and capitalized at 27.5 million Won. The sales average of the recent three years is about 250 million Won and the average profit ration is 6%. The number of employee increased from 1 to 7. BrightUnion, Inc. was established in 1999 and capitalized at 30 million Won. The sales average of the recent three years is about 5 billion Won and the average profit ration is 13%. The number of employee increased from 3 to 85. The case study analysis was executed by two approaches; the first approach is single-case analysis and the second one is cross-cases analysis. In the single-case analysis, each case firm was investigated and described by the framework of the conceptual research model. In the cross-cases analysis, all of the three case firms were analyzed by comparing the status of the factors of the conceptual research model and by exploring some implicating patterns from the comparison. The implications of the research are as follows. There are a couple of different findings from the preliminary studies about the characteristics of entrepreneur. The personal characteristics of entrepreneurs, desire for achievement and risk-taking propensity are not high enough and different in the cases, on the other hand their visionary missions are quite clear in all cases. The entrepreneur’s personal characteristic of one case firm was conservative and the characteristic of the case firm’s business model was quite stable. The fitness between the entrepreneur’s personal characteristic and the characteristic of the firm’s business model can be a factor affecting on the outcome of business. All entrepreneurs of the case firms had clear visions and goals. They recognized that they are very important for the successful business. The experiential capability and the business management capabilities are high in all cases. These results are expected when the characteristics of the small firms are considered. They utilized the resource from the network as much as possible to make up for the limited resource of their firms. As for the competitiveness of business model, all of the case firms had the same business strategy to make competitiveness by differentiating the business models and services. The marketabilities and the differential competitiveness of their business items are also high in all cases but their profitabilities are found to be different Of the organizational factors, the amount of initial capital does not imply a critical factor while this factor has been recognized as strong effective one in the former studies especially of venture companies or small businesses. They managed well fund raising issues by various creative ways while they were doing business. And the levels of preparation and the effects of organizational cultures are implied to be high in all cases. The organizational cultures of the three case firms are characterized as some typical keywords as trust, openness, resect to employee, and familiarity. The result of this study is limited to form generalized conclusions on the effect of the independent factors on the outcome with the limited number of research firms even though the reliable case study methodology of Yin’s was applied. Further research with abundant sample data would be required to go to another generalized conclusion in this research topic.

9

6,100원

이 연구는 1차적 과업환경인 환경의 동태성과 네트워크 차원들이 관계특성 변수들을 매개로 하여 갈등에 어떠한 영향을 미치는지를 파악하고, 갈등을 해소하고 협력을 이끌어내기 위해 네트워크의 존재를 감안한 기업의 관계관리 메커니즘을 살펴보기 위한 것이다. 국내 자동차 산업을 배경으로 하여 구매업체인 대리점과 공급업체인 자동차 영업본사의 관계에서 대리점의 관점을 대상으로 설문조사를 수행하여 실증분석을 하였다. 샘플들은 국내 자동차 산업의 선두업체와 거래하고 있는 대리점들 중에서 115개의 대리점들을 대상으로 하였다. 구조방정식 모형 분석을 통해 가설을 검증한 결과, 의사소통을 감소시키는 환경의 동태성의 영향력과 네트워크 구심을 증가시키는 환경의 동태성의 영향력 모두가 존재하는 것을 나타났다. 그러나 공정성과 네트워크 밀도에 대한 환경 동태성의 영향력은 나타나지 않았다. 또한 공정성을 증가시키는 네트워크 밀도의 영향력과 공정성을 감소시키는 네트워크 구심의 영향력을 존재하는 것으로 나타난 반면, 네트워크 밀도와 네트워크 구심에 대한 의사소통의 영향력은 나타나지 않았다. 그리고 공정성을 증가시키는 의사소통의 영향력뿐만 아니라 갈등을 감소시키는 의사소통과 공정성의 영향력은 존재하는 것으로 나타났다. 끝으로, 이 연구의 이론적 의의와 관리적 시사점들이 논의되었고, 연구의 한계점들과 향후의 연구방향들이 제시되었다.

Firms need to try to interact with other related organizations surrounding themselves. In an effort to do it, firms have made a variety of links with other firms, which is called business network (Gulati 1998). In automobile industry which is the subject of this study, the importance of relationship management for independent agencies have been highlighted. That is why the distribution channel of automobile industry in Korea is reorganized into independent agency system from agency system under direct management of manufacturer. However, independent agencies in each automobile manufacturer have organized and managed their business network, namely agency association, in order to gain transactional outcome from automobile manufacturer and to improve agency’s business performance through having more comparative advantages in comparison with the agencies of other automobile manufacturer. Under condition which business performance can be decided by the competition among business networks rather than it among firms (Achrol 1996; Anderson, Håkansson, and Johanson 1994; Bradford, Stringfellow, Weitz 2004; Möller and Halinen 1999), we suggest that scholars should need to study business including network factors which it had not been sufficient to consider in existing studies. Some studies related with distribution channel have also tried to consider network relationship perspective, criticizing servile following toward existing studies which focused on only dyadic relationship (Anderson, Håkansson, and Johanson 1994; Gomes-Casseres 1994; Gulati 1998; Möller and Wilson 1995; Wathne and Heide 2004). These attempts imply that it is necessary to work up business network to advance in studies about dyadic relationship as well. However, there have been scarce of studies verifying influence relation between business network and other variables related with distribution channel. In addition, there have never found studies to verify how (1) environmental changes, (2) network characteristics, (3) relationship characteristics in dyadic relationship, and (4) relationship quality in dyadic relationship have effects on one another. First, this study verified that environmental changes in four sectors of demand, supply, institution, and competition, which are asserted by Achrol, Reve, and Stern(1983), have effects on business network characteristics. This study considered environmental dynamism to figure out environmental changes, and it introduced network density and network centrality as network dimensions. Second, this study verified influence of environmental dynamism on relationship characteristics in terms of network dimensions as well as direct influence of environmental dynamism. Currently, an automobile manufacturer is advised to implement the relational management mechanism in dealing with its agencies under environmental dynamism that customers’ desire changes rapidly and competition among firms increases. The dynamism in Korea grows more and more because e-commerce made a remarkable growth and foreign automobile manufacturer reinforced marketing efforts. This study also considered relationship characteristics variables, communication and equity, as a relational management mechanism. The last one is that this study verified both the influence of network dimensions on relationship characteristics and the influence of relationship characteristics on relationship quality variable, conflict. This research model is as follows. [도표] <Figure 1> Research Model To sum up, the purpose of this study is to figure out how environmental dynamism and network dimensions have influences on conflict using relationship variables as mediating variables. And then, it is also to find out relationship management mechanism taking network dimensions into consideration for decreasing conflict and increasing cooperation. To verify the hypotheses of this study, an empirical study surveying 115 sales office managers at a leading automobile manufacturer in Korea was conducted. An analysis of the collected data indicates that while environmental dynamism has a negative influence on communication, it has a positive influence on network centrality. The analysis of this study also indicates that while network density has a positive influence on equity, network centrality has a negative influence on it. Furthermore, Not only does communication have a positive influence on equity, communication and equity have negative influences on conflict as well. Finally, the authors discussed some theoretical contributions and managerial implications. And then, we presented limitations of this study and the future research directions.

10

한국 가전산업의 인도시장 경쟁전략 - LGEIL 사례 연구 -

박양섭

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.187-204

※ 기관로그인 시 무료 이용이 가능합니다.

5,200원

본 연구는 인도 진출 이후 현지 시장에서의 경쟁전략을 탐구하기 위해 현재 인도시장에서 탁월한 시장 지배력을 보유하고 있는 LGEIL의 사례를 다이아몬드 모델을 적용하여 종합적이고 체계적으로 분석하였다. LGEIL이 인도 시장에서 어떻게 경쟁우위를 확보하고 있는지 그 경쟁 전략을 분석한 결과, 첫째, 요소조건 측면에서는 모기업의 글로벌 경쟁력을 바탕으로 R&D 현지화와 ICTS 품질 기준 하에 철저히 현지화 된 제품 생산을 함으로써 경쟁력을 확보하고 있다. 둘째, 수요조건 면에서는 인도의 소득 증대 및 경제성장으로 가전제품에 대한 수요가 급증 할 것이라는 시장 예측에 근거하여 잠재수요 발굴에 매진하였다. 셋째, 관련 및 지원 분야 측면에서는 빠른 실행력에 기초한 열정 형 리더쉽과 현지 맞춤형 채용 및 보상․평가제도 그리고 광대한 유통망과 애프터 서비스 망을 구축하여 운용하고 있는 점이 경쟁력으로 작용하고 있다. 넷째, 전략, 구조 및 경쟁의 측면에서는 인도 현지인 중심 조직구조를 기초로 LGE Way에 기반을 둔 비전 경영 실시로 성과 중심의 기업문화 구축, 블루오션인 Rural Marketing 전략 실행, TDR 혁신활동 그리고 경쟁사가 시도하지 않은 발로 뛰는 홍보 전략을 통해 경쟁 우위를 확보하였다. 이런 LGEIL의 경쟁전략은 인도 현지 활동 중인 한국 기업들에게 경쟁 전략 관련 분석 틀을 제공함과 동시에 가전산업에 속한 한국기업 들에게 기업 운용 전략상의 실무적 시사점을 제시하고 있다.

Several Korean firms are conducting successful operations in India. What would be their competitive strategies? To explore those, as a case study, this paper are to analyze LGEIL’s competitive strategies in India on the basis of Porter’s diamond model because LGEIL takes market leading positions in consumer electronics and home appliance industry of India in 7 years as shown the below mentioned <Table 1> and <Table 2>. Now, she is writing one of the most successful business stories in Indian market. <Table 1> Market positions of LGEIL (2007) [표] <Table 2> Market positions of LGEIL (2000) [표] Through the comprehensive and deep analysis, our findings on recommendable competitive strategies in India are as follows; First, localized products to meet Indian customers’ needs and local production facilities and local R&D to comply with severe Indian quality environments shall be required. Second, market size for consumer electronic products due to Indian economic growth is being increased so companies in India should try to tap this market earlier than competitors. Third, building up wide distribution channel and network for after-service similar to spider’s thread and localized HR system designed by passion leadership are a must. Fourth, equipment with performance-oriented company culture anchored in localized organization structure, LGE-way vision, TDR innovation and rural marketing as a blue ocean strategy shall be highly suggested to gain competitive advantages in India. Lastly, strong resolution and fast execution can be also highly suggested as a wonderful strategy

11

노년층 소비자의 소매점 선택요인에 관한 연구

김숙응

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.205-226

※ 기관로그인 시 무료 이용이 가능합니다.

5,800원

우리나라는 세계 어느 나라보다도 빠른 고령화 현상으로 인해 전체 인구 중 노년층이 차지하는 비율이 급속히 증가하고 있다. 또한 베이비부머들은 50대에 접어들었고, 이들이 은퇴를 본격적으로 시작하는 2010년부터 20여 년간 1800만 명에 이르게 될 것이다. 따라서 고령사회에 대비하여 이들 노년층시장에 대한 기업과 소매점들의 새로운 전략이 필요한데, 노년층에 대한 점포선택행동에 관한 연구는 거의 없는 편이다. 본 연구는 노년층 소비자의 편의품(일상용품과 생필품) 구매에 있어 소매점 선택요인을 파악하는 것이며, 이를 위해 아래와 같이 세 집단으로 선택요인 변수 집단을 구분하였다. 첫째, 소매점 선택 시 중요하게 생각하는 소매점 요인 변수: 노년층 소비자가 편의품 구매 시, 중요하게 생각하는 소매점의 특성 및 서비스특징에 관한 변수(이하 F 집단). 둘째, 자주 이용하는 소매점이 보유하고 있는 소매점 요인 변수: 설문응답자가 자주 이용하는 소매점의 특성 및 서비스특징에 관한 변수(이하 G 집단). 셋째, 소매점이 일반적으로 가지고 있는 소매점 요인 변수: 설문응답자가 평소 소매점 이용 시 해당 소매점이 보유하고 있는 특성 및 서비스특성에 관한 변수(이하 H 집단). 위와 같이 ‘소매점 요인 변수’를 세 가지로 구분하여, 소매점 선택요인 변수(편리성, 위치, 물리적 환경, 서비스특성, 품질과 가격)와 노화에 따른 변화(건강, 활동성, 인지적 나이) 변수 간의 관계를 경로분석을 통해 분석하였다. 이는 노년층 소비자를 대상으로 마케팅전략을 수립하는 기업들에게 지표로 사용될 수 있을 것이다.

Korea has already passed the aging society and is entering the aged society. Currently, the elderly population is rapidly rising worldwide and their assets are also steadily increasing. This fact presents important implications to businesses interested in the elderly market. It implies that the absolute size of this market, as well as its purchasing power, is increasing. In other words, it means that servicing the elderly, or the elderly industry, is on the rise as one of the most important markets for businesses. However, on the other hand, it is also a fact that even the corporations in advanced nations have not been able to effectively penetrate the elderly market. The reason for this is that, although the importance of the elderly market is being accepted by businesses in recent times, they lack understanding of this market and thus are unable to appropriately deal with it or have handled it in inadequate ways. In general, the elderly class has been known, according to past stereotyping, as a small group with limited economic power that does not spend a lot of money. Under such a stereotype, it is natural that the elderly market is ignored by businesses. Of course many elderly people still experience hardship under difficult economic situations, but many of them have been able to accumulate wealth from the results of rapid economic development and their numbers are quickly expanding. As aging progresses, the elderly experience many changes in various aspects of life which they did not experience when younger, and desires based on such changes create demand for new products and services. These days the elderly market to satisfy such demand is rapidly developing and for businesses, this market is rising up as an important strategic market. Especially the baby boomer generation is just entering their 50s and its size is not small, making up 38% of the population. They are full of desire to leisurely enjoy the remainder of their years and have the financial ability to do so. For 20 years starting in 2010 when they begin to retire in significant numbers, businesses will encounter a huge consumer group of 18 million people. Despite this development, information about the elderly class, compared with other age groups, is very inadequate and there is virtually no knowledge about how to approach this group. In order to prepare for an aged society, corporations and retailers that deal with the elderly need a new strategy. However, research on the elderly regarding their store choice behavior is almost non-existent. This paper aims to identify the factors in choosing retail stores when elderly consumers purchase convenience goods, and for that purpose, classified the determinant variables into the following three groups. 1.Variables that consumers think are important when choosing retail stores: variables that deal with the characteristics and services of retail stores which elderly consumers think are important when purchasing convenience goods (every day supplies and necessities) (group F). 2.Variables that are found in retail stores frequented by the elderly: variables that deal with the characteristics and services of retail stores which are frequented by the survey respondents (group G). 3.Variables that retail stores generally possess: variables that deal with the characteristics and services possessed by retail stores which are used by the survey respondents during ordinary times(group H). The “retail store factor variables” were thus divided into three groups, and the relationship between retail store determinant variables (convenience, location, physical environment, service characteristics, quality and price) and change variables that indicate aging (health, activity, cognitive age) was analyzed through a path analysis. Thus with health and service characteristics, all three groups have significant relationships. This explains that, in the case of health, it is a very important variable independent of group classification. Relationship between health and physical environment (F, G), health and quality and price (F, G), activity and quality and price (F, G), activity and convenience (G, H), cognitive age and service characteristics (F, H), cognitive age and convenience (F, G), and cognitive age and position (F, H) can also be considered important. Moreover, just like the relationships between health and position or cognitive age and physical environment, the independently significant H and F groups can also be considered meaningful. Lastly, with activity and service characteristics, physical environment and activity, “quality and price” and cognitive age, health and convenience, position and activity, all three groups were found to be variables without any influence. The result of the study will be very useful in establishing the relevant elderly marketing strategies and in providing the business opportunities of the market for elderly consumers.

12

회사의 분할회계와 과세체계

서광석

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.227-247

※ 기관로그인 시 무료 이용이 가능합니다.

5,700원

본 연구는 기업의 대내외 경쟁력 강화를 위한 기업 조직 개편의 수단으로서 복수의 사업부문을 가진 회사가 여러 개의 독립된 사업부문으로 나누어지는 등의 여러 형태의 회사분할제도가 상법상의 법규체계를 갖추고 있다. 다만, 실제 그 적용에 있어서는 회사분할제도의 많은 부분이 회사합병 규정을 준용하여 적용되고 있다가 회사분할에 따른 분할회계제도가 「기업회계기준 등의 해석, 49-55」을 별도로 제정하여 분할회계도 독자적으로 합병회계와 같이 일관성 있고 통일적으로 회계 경리하도록 하였다. 또한, 회사분할에 따른 과세체계에 있어서도 회사의 분할을 원활히 지원하기 위하여 과세의 공평이 저해되지 않은 범위 내에서 법인세법과 조세특례제한법 등에서 회사분할에 따른 많은 조세특례사항을 규정하고 있다. 본 연구는 상법상의 분할 형태에 따른 회사의 회계적 처리에 대하여 구체적인 연구 사례를 들어 논술하였으나 회사분할 제도가 도입된 지 얼마되지 않아서 현실적으로는 많은 부분이 미비되어 있어 그에 대한 부분을 합병회계규정을 준용하여 처리하고 있는 현실에 있으므로 분할회계에 대한 보다 더 구체적인 회계처리 기준 및 해석 등이 분할 형태별로 규정될 필요성이 제기된다. 또한 기업분할에 따른 과세체계에 대하여도 분할 형태별로 분할전회사, 분할후회사 및 그에 속한 주주의 과세 체계에 대하여 논술하였다. 기업분할이 경영효율화를 위한 기업구조조정의 일환으로 인한 조직변경이라면 분할에 따른 조세부담 때문에 회사분할이 저해되지 않도록 기업의 의도적인 조세회피가 이루어 지지 않고 과세공평을 저해하지 않는 한 기업구조조정을 적극적으로 지원한다는 의미에서 현재보다도 더 많은 과세특례사항을 규정할 필요성이 있는 것으로 판단된다.

In the present study, several forms of company split systems such as division of several independent business sectors that a company having a plural of business sectors as a means of corporate organization’s reorganization for strengthening a domestic and overseas competitive edge of an enterprise are equipped with a law system as a provision system of the Commercial Law, but a lot of portions of the company split system is applying the company merger regulations in the actual application, and the (Analysis of corporate accounting standards, etc. 49~55)is separately enacted in the split accounting according to the company split and the split accounting is also made to be independently accounted and book-kept consistently and uniformly like merger accounting. The present study states the content and the cases of detailed accounting treatment of an enterprise according to the company split form and researches on how the accounting treatment’s content of split company, etc. was changed to a financial situation and indicated by mentioning cases in a way that compares financial statements of a company before split and a company after split, and also, mentioned the financial treatment content of the current commercial law according to its split, a succession range of assets and capital according to it and the detailed accounting treatment content about rights of trade, etc. that the split company, etc. appropriated according to its split. But, detailed research cases about corporate accounting treatments according to the split form in the commercial law were stated, and the necessity of more detailed accounting treatment criteria, etc. about split accounting are being required because it has been not long since introduction of the company split system, and the portion about it is applied to the merger accounting regulations and processed as its many portions are not unprepared realistically. As the liquidation income about unrealized profit during a business year about assets and capital transfer of a company before split according to its split in a split form is generated in a taxation system according to corporate split, there is a possibility that the split is avoided and delayed if the corporation tax about the liquidation income is taxed. Therefore, a special taxation system about it and a special taxation system about calculation of the liquidation income amount are set in the corporation tax law, and also, when certain requirements of assets taxable gains due to assets conveyance of a company before split are satisfied in the physical division, several forms of deferred taxation systems such as inclusion of its certain amount into a loss of money, etc. are set. The content of several commercial laws and corporate tax laws according to appropriation of split loss from the difference of quotation and rights of trade was stated in a case of a company after split with several forms of a special taxation system such as deferred taxation about split profit and split evaluation profit according to its split. Also, the succession of assets and debt, etc. according split of a company before split, its range and its evaluation method, etc. of a company after split was stated, and the taxation content and the special taxation system’s content about calculation of fictional income from dividends regarding shareholders of a company before split according to corporate split were also stated in detail. Many tax incentive items according to the company split are prescribed in the corporate tax law and the tax incentive limitation law, etc. in a range of not hampering equity of taxation to smoothly support the company split in a taxation system according to the company split. Accordingly, the present study discoursed upon detailed research cases about corporate accounting treatments according to the split form in the commercial law, and suggested the necessity of more detailed accounting treatment criteria, etc. about split accounting because it has been not long since introduction of the company split system, so the portion about it is applied to the merger accounting regulations and processed as its many portions are not unprepared realistically. Also, a company before division or a company after division according to a split form and the taxation content of shareholders included to it were discoursed upon a taxation system according to the corporate division, but it is judged that there is necessity that regulates more taxation incentive items than the present as long as intentional tax avoidance of an enterprise is not carried out and equity of taxation is not hampered, so that the company split is not hampered because of a tax burden according to the division if the company split is simply organizational change due to part of corporate restructuring for management efficiency.

13

가격 공정성 지각에 관한 비교연구

이령나, 이성근

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.249-264

※ 기관로그인 시 무료 이용이 가능합니다.

4,900원

가격 공정성 지각은 소비자들의 제품구매에 영향을 미친다. 선행연구에서 이미 제시되었듯이 소비자들은 쌍방권한원칙(dual entitlement theory), 원가가산원칙(cost-plus rule), 완충원칙(buffer rule)에 근거하여 가격 공정성을 판단한다. Kahneman 등(1986a, b)은 가격공정성 지각원칙 중 쌍방권한원칙에 대해 처음으로 제시하였고 소비자들이 쌍방권한원칙을 적용하여 가격공정성을 판단할 때 더 효과적이라고 하였다. 그러나 Urbany 등(1989)은 Kahneman 등(1986a, b)의 쌍방권한원칙의 효과에 대해 부분적으로 부정하였고 Kalpurkal 등(1991)은 Kahneman 등(1986a, b)의 결론을 완전히 부정하면서 쌍방권한원칙보다 원가가산원칙, 완충원칙이 더 효과적이라는 결론을 제시하였다. 이렇듯 선행연구에 따르면 어느 하나의 원칙이 지배적으로 설명력이 있다고 보기 어려울 정도로 여러 가지 결과들이 혼재되어 있는 것으로 나타났다. 따라서 이 논문에서는 선행연구에서 나타난 결과를 정리하여, 각 공정성지각의 원칙이 어떤 경우에 더 효과적으로 설명이 가능한가를 밝히기 위하여, 각 원칙들이 설명 가능한 세 가지 상황과 제품군을 시나리오로 설정하여 소비자들이 공정성을 지각하는 방법들을 증명하고자 하였다. 선행연구 결과와는 달리 쌍방권한원칙보다는 원가가산원칙, 완충원칙이 가격 공정성을 지각하는데 더 설명력이 있는 것으로 나타났다.

The price fairness perception of the product is closely related to the reference price. If price of the product is higher than reference price, consumer will perceive it as unfair. As previously reported, the principles of price fairness perception such as dual entitlement theory, cost-plus rule and buffer rule have been discussed by many researchers. Dual entitlement theory means that both buyer and seller has the right. That is to say, sellers have the right to obtain the profit and sellers have the right not to buy when the price is not fair. On the other had, consumers will judge the price ad fair when the price is set on the cost level. Buffer rule means that consumers will judge the price as fair when the price should be constant without considering the fluctuation of the cost level. Kahneman et al.(1986a, b) is the first researcher who applied the dual entitlement theory to the price fairness perception. However, Urbany et al.(1989) also supported partially the effectiveness of the dual entitlement theory. That is, he showed that dual entitlement theory will be valid when the search cost is lower than the amount of price increase. But Kalpurkal et al.(1991) denied entirely the Kahneman’s conclusion and suggested that the cost-plus rule and buffer rule are more effective than dual entitlement theory. According to previous studies, there was no dominant rules to describe the phenomenon of price fairness perception. Under the above mentioned backgrounds, the purpose of this study is to explain which theory is more explainable in different situations. In order to describe which theory would make sense for perceiving the fairness, three scenarios based on the each theories was built and they were applied to three products such as digital camera, lettuces and aromatics which were selected in the pre-study. The hypothesis was that consumers would perceive the price fairness differently when each of three previous theories was applied to each product. The conditions considered are as follows when the products were selected. Firstly, lettuces represent the condition that the sellers can control the cost and the consumers have negotiation power, Digital cameras represent the condition that the sellers can control the cost, and have even negotiation power. Aromatics express that the seller cannot control the cost and the consumers have the negotiation power. To test the hypothesis, 3(three rules) by 3(three products based on the situations) experimental design was used. Each cell is composed of around 30 students who attend ‘S’ university. They are required to check the degree of fairness after reading the scenarios. We judged the degree of fairness by the number of respondents who checked 4(probably fair), or 5(fair) in 5 point interval scale. <Table 1> Scenarios [표] Contrary to the hypothesis, and similarly to the Kalpurkal et al.(1991), the cost plus rule and the buffer rule are more valid than dual entitlement theory for explaining the price fairness perception. The reason why the contradictive results were shown is as following. Because consumers tend to maximize their own profit, they consider the rules to be beneficial as fairness. <Table 2> Results [표] This study has also some limitations. The manipulation of one of the scenarios did not work well in the main experiment, which is contradictory to the pre-study. The case of aromatics was not manipulated in the main experiment. Thus, I could not check the ideas I developed based on the literature review. Secondly, the meaning of dual entitlement theory was not delivered to the subjects because of the its delicate situation. The some of contradictory result was due to it.

14

5,800원

본 연구의 목적은 변혁적 리더십의 구성요인인 지적자극이 구성원의 심리적 상태를 통해 구성원의 행동으로 이어지는 간접적인 영향을 알아보는 것이었다. 구성원의 심리적 상태로서 구성원의 일에 대한 희망과 친밀감을 활용하였으며, 구성원의 조직 내 행동으로 구성원의 심리적 웰빙과 역할 내 행동을 이용하였다. 통신산업에 종사하는 본 연구의 참여자들은 자발적인 참여를 원칙으로 하였으며, 많은 연구를 통하여 신뢰성과 타당성이 확보된 측정도구를 활용하여 구성된 설문지를 이용하여 본 연구의 실증분석에 사용된 자료를 수집하였다. 수집된 자료를 매개 회귀분석을 활용하여 검증하였으며 검증 결과는 다음과 같다. 첫째, 지적자극은 구성원의 친밀감 및 일에 대한 희망 형성에 긍정적인 유의한 영향을 미치며, 둘째, 일에 대한 희망은 역할 내 행동과 심리적 웰빙에 중요한 긍정적인 영향을 미치는 것으로 나타났으며, 셋째 친밀감은 구성원의 심리적 웰빙에 중요한 긍정적인 영향을 미치며, 넷째, 지적작극은 일에 대한 희망과 친밀감을 통해 역할 내 행동 및 심리적 웰빙에 각각 간접적인 영향을 미치는 것으로 나타났다. 본 연구의 결과는 구성원들이 조직 내 경험이 구성원의 심리적 상태를 거쳐 구성원의 행동에 영향을 미칠 수 있다는 것을 직접적으로 검증하였다는 점에서 의의를 찾아 볼 수 있으며, 구성원의 긍정적인 심리적 상태로서 역할 내 희망 및 친밀감을 조직행동분야에 응용해 보았다는 점에서 의의를 찾아 볼 수 있다. 토론 및 결론을 통하여 본연구의 이론적 기여도 및 실무적인 기여도에 대하여 심도 있는 논의를 제공하였으며, 본 연구의 한계에 대하여서도 언급하였다.

This study started with an ideas that a leader could have significant influences on its subordinates and their attitude and behaviors. Positive organizational behaviors could be formed by leader’s behaviors with intention to make employees move toward a direction an organization insisted. The specific purposes of this paper was to investigate the influences of intellectual stimulation on the in-role behavior and psychological well-being through intimacy and hope for work. Hope for work and intimacy were used as positive psychological state of employees which mediated the influence of intellectual stimulation on employee behaviors. Variables used for the study were selected considering the role of a leader in developing positive psychological states of employees. Hypotheses were constructed based on literatures in the areas of transformational leadership and positive organizational behavior. Following 10 hypotheses were constructed: H1: Intellectual stimulation will have positive influences on intimacy. H2: Intellectual stimulation will have positive influences on hope for work H3: Hope for work will have positive influences on psychological well-being. H4: Hope for work will have positive influences on in-role behavior. H5: Intimacy will have positive influences on psychological well-being. H6: Intimacy will have positive influences on in-role behavior. H7:Intellectual stimulation will have positive influences on psychological well-being through hope for work. H8:Intellectual stimulation will have positive influences on in-role behavior through hope for work. H9:Intellectual stimulation will have positive influences on psychological well-being through intimacy. H10: Intellectual stimulation will have positive influences on in-role behavior through intimacy. The date used for empirical analyses were collected by using a questionnaire which contained measurements with proven psychological properties. And the participants of the study were selected based on their own decision and were given specific guidelines about the study. The samples were collected in the telecommunication industry in Korea. Among 448 employees participated in the study, 367 employees were male and 81 were female. On the average, they have been working with their leader about 19.9 months when they answered a questionnaire. And the collected data were analyzed using SPSS. To test hypotheses, regression analyses and mediating regression analyses were used. The results of the were as followers: First, intellectual stimulation was found to have positive impact on hope for work, while it has significant positive impact on intimacy. Second, hope for work was found to have significant positive influences on in-role behavior and it showed significant positive influences on psychological well-being. Third, intimacy had significant positive impact on psychological well-being. Fourth, intellectual stimulation had significant indirect impact on in-role behavior and psychological well-being through hope for work, while they had significant indirect influences on in-role behavior and psychological well-being through intimacy. The results of the study contributed to the development of theories in areas of positive organizational behavior and development of employee attitudes in an organization. Intimacy and hope for work were found to have the role of positive organizational behavior. This contributed to the theoretical development of positive organizational behavior. On the other hand, this study proved that a sub-dimension of transformational leadership had indirect influences on employee attitude and behavior like psychological well-being and in-role behavior through intimacy and hope for work. This result extended transformational leadership research to areas of positive organizational behavior. Practically, the result of the study can be applied to the employees’ motivational development and transformational leadership development programs. Employees’ hope for work and intimacy with their leaders will be very important motivators for their employees. Future motivational development programs should consider to incorporate positive organizational behaviors variables like intimacy and hope for work in their employee motivational development programs. Theoretical and practical meaning of the results, and in-depth discussion about limitations and future study direction were provided through discussion section.

15

기업집단의 총수는 어떤 회사를 직접 경영하는가?

박경진, 오원정

한국기업경영학회 기업경영연구 제16권 제3호 2009.09 pp.287-302

※ 기관로그인 시 무료 이용이 가능합니다.

4,900원

본 연구는 대규모 기업집단의 지배가족 중 대표자인 그룹 총수가 그룹 내의 어떤 회사의 대표이사직을 맡는 지에 대해 살펴보았다. 연구 결과, 그룹 내에서 자산규모가 크거나 기업년수, 즉 설립한지 오래된 회사 그리고 증권시장에 상장되어 있는 회사의 대표이사직을 맡고 있음을 발견하였다. 이 결과는 총수의 경우 그룹 내에서 가장 대표성이 높은 회사들을 직접 경영하려는 경향 크다고 해석할 수 있다. 기업의 수익성은 그룹 총수의 경영권 선택에 크게 영향을 미치지 않는 것으로 나타났다. 부의 이전과 관련하여 살펴 본 현금흐름권과 의결권 차이를 나타내는 괴리도는 유의성이 떨어지고 모형마다 약간의 차이를 보이기는 하나 총수경영과는 음의 관계를 보였다. 본 연구의 결과는 대규모 기업집단의 효율적인 수익성이 높은 회사보다는 그룹 내의 대표성을 가지고 있는 회사 또는 소유구조에서 상위에 있는 기업의 대표이사직을 맡음으로써 그룹 전체를 지배하고자 함을 의미한다.

In Korea, the business groups, as it is called Chaebol, are controlled and owned by families. Although own family members took charge only 3~6% of the whole board member, the higher rank, the higher the proportion of their members. In that, only few of families took charge of higher rank of board member, so they can manage and control their whole companies. After IMF, Chaebols had to carry out major restructuring and the heads of them adopted “the agreement of restructuring of the five groups”. But, chaebol families haven't changed their ownership, instead, they have decided to make professional CEOs to manage their companies. So, they have to choose that companies are manage directly by themselves. It can be issues who owns companies as well as who manages cause the executives can decide the whole activities directly. Also, the heads of groups are representative of groups and they are the most powerful to control whole groups so the issue that which companies are managed directly by them can be material. Most of prior studies regarded the ownership-management structure as a exogenous factor. They researched how the separation of ownership and control affected effectiveness or firm value. But We think own families have the selection power which companies are managed or not. This paper examines which companies are directly managed by the heads of the business groups. As a result, the head of business groups have taken charge of the CEO of representative companies that have large assets or that can be regarded as parent companies that are the oldest among groups or that are listed to stock market, We find that the head-CEO dummy is not sensitive to the firm profitability, so that indicates the head of groups are less likely to consider companies’ profitability. Next we examine the relation between the head-CEO dummy and the disparity between cash-flow rights and voting rights that measures tunnelling, In business groups, the less disparity, the higher ownership structure, so the head of groups tend to manage companies that have less parity. These results show the head of business groups are more inclined to manage directly companies that are widely known and have less disparity in order to control whole groups because these companies have the representativeness, so they have a great influence to whole companies within groups. Next we can research which managing companies own families select when groups establish holding companies or spin off, then we can find that own families want to keep certain companies as managing companies because of governance.

 
페이지 저장