Earticle

본 연구에서는 외국인 투자자가 단기 시세차익을 노리는 투기자로서의 역할이 강한지 아니면 내재가치에 기초한 장기 투자자로서 주식시장의 안정성제고에 기여하는지에 대하여 분석하였다. 투기적 외국자본은 단기적인 이윤추구에만 매달려 빈번한 자금 유출입으로 인해 주가변동성을 심화시키며 주식시장의 안정성을 저해할 수 있고, 막대한 외국자본이 투기적 성격이 높은 자본투자로 이어진다면 과도한 시장왜곡 현상을 불러올 수 있기 때문에 장기적인 관점에서 국내경제에 부정적인 영향을 미치게 될 것으로 예상된다. 투기적 외국자본을 구분하는 대용변수로 시계열상의 주식거래량 및 주식수익률의 표준편차를 이용하였다. 왜냐하면, 주식거래량의 표준편차가 크면 클수록 단기적 투자수익만을 획득하기 위한 일시투자일 가능성이 높고, 주식거래량의 표준편차가 크면 클수록 단기적으로 주식수익률에 영향을 미치기 때문에 주식수익률의 표준편차 역시 커질 것으로 예상되기 때문이다. 본 연구에서는 2005년부터 2009년까지 상장된 금융업을 제외한 12월 결산법인 중 감사보고서상 실증분석에 필요한 재무자료가 존재하는 2,540개 기업-년을 대상으로 투기적 외국 자본이 기업가치에 미치는 영향에 대하여 실증분석을 수행하였다. 분석결과, 기본적으로 외국인에 의한 자본투자의 경우 기업가치가 향상된다는 긍정적인 결과가 관찰되었다. 그러나 투기적 성격이 강한 외국인에 의한 자본투자의 경우 오히려 기업가치가 하락되는 부정적인 결과가 나타났다. 본 연구의 분석결과는 외국자본이 단기적 투기에만 목적을 두고 있어 기업발전을 저해한다는 부정적인 시각과 기업의 지배구조를 개선하고 경영투명성을 확보 하는데 기여하고 있다는 긍정적인 시각이 공존하는 학계 또는 재계의 논란에 대한 실증분석결과를 제시하였다는 점에서 의의가 있다

This study analyzed if a foreign investor has stronger role as a venturer who aims for a short-term market value profit or is contributing to stability improvement of the stock market as a long-term investor based on intrinsic value. Speculative foreign capital can hinder safety of the stock market as intensifying stock price variability due to frequent money flow because it focuses on short-term pursuit of profit, and if massive foreign capital is lead to capital investment of high speculative characteristic then it can cause excessive market distortion and therefore it is expected to have negative effect on domestic economy in a long-term perspective. Speculative capital means capital that assumes short period nature in financial engineering standpoint. As can be shown in hedge fund a type of private equity fund, speculative capital emphasizes temporary instability, inefficiency or imbalance of market. Therefore, speculative capital is very short in time frame and opportunistic in action. Since it is deemed to increase in risk with time, speculative capital has the nature to synchronize buying time point and selling time point if possible. Ones that comply with such speculative nature among foreign capitals that entered domestic market include hedge fund and private equity fund. Hedge fund is a type of fund that investment experts distribute based on investment accomplishments by raising profits in short period after raising fund in private offering method from small number of investors and operating the fund in various investment techniques including investment in derivative products and leveraged buying, and it is mostly established in tax haven. In the U.S., hedge fund is not applied with Investment Company Act, and examples of hedge fund include Quantum Fund of George Soros and Tiger Fund of Julian Robertson which is known to have attempted green mail to SK Telecom. As for examples in Korea, acquisition of Korea Exchange Bank by Loan Star and acquisition of Hanmi Bank by Carlyle, and it is urgently required to prepare preventive measure against speculative foreign capital. Such perspective of speculative foreign capital is emerging as world economic problem by going beyond the problem of deterioration of domestic economic development. Recently Seoul G20 which was held for the first time in a country which is not one of G7 advanced countries received worldwide interest by being held in a period when conflicts were raised among countries on exchange rate, and closed by accomplishing the outcome of adopting Seoul Declaration. In the course of the discussion, an opinion was raised that certain level of control on incoming and outgoing capital should be sought after to stabilize reinforcement of Korean won and extension of changeability of financial market, and permission of conditional control of foreign capital in developing countries was reviewed specifically. Such overall economic flow is contributing to pursuit of plan for control of speculative foreign capital in the nation. In the nation, plans like revival of withholding tax on interests profit of national bond by foreigners, reduction of addition of forward exchange position in domestic branches of foreign bank, and bank levy etc are being reviewed as countermeasure to restrict excessive influx of foreign capital. As there are already a great deal of foreign capital influx in the nation as well due to worldwide excess of fluidity, it is definitely urgent to prepare diverse measures to reduce the changeability of financial market. The standard deviation of stock trading shares of a time series and stock profit was used as the substitute variable of dividing speculative capital. Because if the standard deviation of stock trading shares is high then there is high possibility it is temporary investment to acquire short-term investment profit, and if the standard deviation of stock trading shares is high then the standard deviation of stock return is expected to increase because it has an effect on stock return in the short run. This study conducted an empirical analysis on the effect of speculative foreign capital on an firm value with the sample of 2,540 firm-year with financial references on a audit report that are required for empirical study among corporations that settle accounts in December excluding financial businesses listed from 2005 to 2009. As a result of analysis, capital investment by a foreigner showed the positive result of an increasing firm value. However, capital investment by a foreigner with a speculative characteristic showed the negative result of a decreasing firm value. Analysis results of this study have significance in that it suggested results of empirical analysis on controversy of the academic world or the financial world where there is coexistence of a negative perspective of viewing that foreign capital is degenerating development company as it only focuses on short-term investment and a positive perspective of viewing that it is contributing to improving the corporate governance and securing transparency in administration.

본 연구는 한국기업경영학회의 1996년 창간호에서부터 제19집 제3호(2012년 6월)까지 지난 19년간의 기업경영학 연구동향에 관한 연구이다. 본 논문의 연구대상은 한국기업경영학회가 발간하는 학술지 ｢기업경영연구｣에 게재된 연구 성과를 중심으로 기업경영학 연구에 있어서 한국기업경영학회의 연구 성과 및 기여도에 대한 부분을 체계적으로 고찰하는데 연구의 목적을 두고 있다. 본 연구는 먼저, 한국기업경영학회의 창립동기와 그동안의 성과와 현황에 대한 내용을 다루었으며, 그리고 ｢기업경영연구｣에 게재된 논문들을 시대별 성과와 전문 분야별 성과로 나누어 분석하였다. 그 결과 다음과 같이 요악할 수 있다. 첫째, 기업경영학의 각 연구 분야에 있어서 학문적 편중성을 개선해야 할 것으로 보인다. 21세기에 들어와서 기업경영학 관련 학문들이 점점 세분화되고 전문화되고 있는 가운데 각 분야별 연구자들의 활발한 연구 활동이 요구되어진다. 둘째, 기업 경영학의 연구에 있어서 국제적인 연구논문의 발표가 필요하다. 우리나라의 기업경영학 연구는 한국기업을 대상으로 하는 것이 대부분이어서 이런 난점을 없애기 위해서는 외국 기업과의 국제 비교분석 같은 분야에 더 많은 논문이 게재되어야 할 것으로 사료된다. 셋째, 외국학자의 적극적인 참여가 필요하다. 기업경영학의 연구내용이 글로벌화 되기 위해서는 연구자들의 국적이 다양해지는 것이 바람직하다고 사료된다. 이는 기업경영학 연구의 글로벌화를 이룰 수 있을 뿐만 아니라 다양한 시각에서 기업경영학 연구를 발전시킬 수 있는 계기를 마련할 수 있다. 넷째, 한국기업경영연구의 체계적인 자료정리가 필요하다. 한국기업경영학회는 1994년 출발 하였지만 2001년 6월에 지금의 명칭으로 개칭 후 전국 규모의 학회로 발전하였다. 그러나 한국기업경영학회는 지난 19년간의 학회역사를 이어오면서 체계적인 학회 자료의 정리에 일부 미흡한 부분이 남아 있었다. 특히 초기의 학회자료에 대한 체계적 정리가 필요할 것으로 사료된다. 끝으로, 한국기업경영학회는 지난 19년 동안 기업경영학에 있어서 많은 연구 성과를 보여주었지만, 학회가 세계적인 학회로 발전하기 위해서는 좀 더 활발한 연구 활동의 촉진이 필요할 것으로 사료된다

This Study is about the study trends of during the last 19 years that The Korean Corporation management Association was publishing a corporation management until Vol. 19 No. 3(2012. 6) since first issue(1994). The subjects of this study is published a corporation management by the Korean Corporation Management Association it’s around study results. Also, This study is the activity performance and contribution to investigate the systematical study. This Study discussed about the founding motivation and performance of the Korean Corporation Management Association, This study was analyzed time performance and professionally sectoral performance in published the corporation management. The Results are summarized as follows. The Corporation Management of 1990’s was embryonic stage in the Korean Corporation Management Association, In this era was studied about relatively much more accounting and a human resource organization. The Corporation Management of 2000’s can the stabilized and the growth stage to the Korean Corporation Management Association. During this period, First of all, The Corporation Management of the academy journal was enlarged to publish four times per year after 2009. Also the grand prize award of Korean’s Representative CEO began in this period. In addition, This periods began international policy seminar and international symposium of exploration between domestic and foreign scholars for academic exchanges. Also, This period began the field trip of exploration between domestic and overseas corporations for the opportunity to a wide range research and the benchmarking of management practices activities. In 2010, The Corporation Management of Academy journal was selected the scholarship registration journals from the National Research Foundation of Korea. and The Corporation Management of the academy journal was enlarged to published six times per year from 2012. The other hand, In this study classified by journal submission to the research result of the Korean corporation business administration, it were classified by HR, Production Metering, Technological Innovation, MIS, Marketing, e-biz, Finance, Accounting, International Business, Management History, Business Strategy, Small Business, Tourism Management, General Management and the other. Look at these sectorial main research contents, First, HR has been studied the characteristic of Organization, Organizational Culture, and Leadership. And Production Metering were studied DRP system and JIT Production Methods, Quality Management and Productivity. The MIS were studied IS and Technology Acceptance Model(TAM). The other hand, In the Marketing field was studied about the consumer reaction for advertising, Brand recognition, service quality etc. The e-biz field was performing related to e-commerce. In addition, Finance field was performed bank management and financial institutions, corporate governance, date trading of the securities market, real estate market. And an Accounting has made relatively taxation system, international accounting standards, corporate governance improvement. In the field of international business research related to the internationalization of enterprises and FDI, and korean corporations into china. Business strategy was studied related to strategic alliances. And Tourism Management has been performed the service quality of hotel companies and the research related of local government. And The other areas research have been performed a related of employment. However, The limitations of this study, First, In this study has been carried out to the target of the research presented the journal of the corporate management research utilizing limited research. Second, Korean Corporate Management Association was contributed much to the development of Korean Corporate Business Administration grown over past 19th years. But Performed in this study showed the limits the lack of a organize to resources systematically of the society data Somewhat difficult to perform a more comprehensive study. Finally, The Korean Corporation Management Association was showed many research performances during the past 19 years, but it needs a more efforts for further more growth.

본 논문은 기업성과를 설명하는 세 가지 중요한 이론인 환경결정론, 자원기반관점, 다각화이론의 소개와 통합의 이슈를 다룬다. 이를 위해 각 이론에서 주요 변수로 사용하는 환경불확실성, 자원보유수준, 사업부 간 자원관련성이 개별적으로 기업성과에 미치는 영향을 살펴봄으로써 각 이론적 타당성을 실증적으로 검증하는 한편, 변수들 간의 상호작용효과를 분석함으로써 이론들 간의 통합을 모색하였다. 실증분석 결과, 자원보유 수준과 사업부 간 자원관련성은 기업성과에 긍정적인 영향을 미친 반면, 환경불확실성은 유의적인 영향을 미치지 않았다. 또한 환경불확실성과 자원보유수준의 상호작용은 기업성과에 부정적인 영향을 미치는 것으로 나타나, 안정적인 환경에 처해 있고 많은 자원을 가진 기업일수록 높은 성과를 달성한다는 결과를 얻을 수 있었다. 반면에 환경불확실성과 사업부 간 자원관련성의 상호작용은 기업성과에 부정적인 영향을 미치는 것으로 나타 났는데, 이는 안정적인 환경에 처할수록 사업부 간 자원관련성이 기업성과에 미치는 영향은 미미해지는 반면, 환경불확실성이 높을수록 사업부 간 자원관련성이 기업성과에 미치는 영향이 커진다는 것을 의미한다. 마지막 으로 자원보유수준과 사업부 간 자원관련성의 상호작용은 기업성과에 유의미한 영향을 미치지 않는 것으로 나타났는데, 자원보유수준과 사업부 간 자원관련성은 개별적으로는 기업성과에 영향을 미쳤던 반면, 두 변수의 결합은 영향을 미치지 않은 것은 다소 이례적인 결과라고 할 수 있다

The research in strategic management field regards environment, resource, synergy as three main factors to explain the performance of the firm. The first research stream explores the relationship between environment and performance and investigates the effect of environment on organizational survival, progress, and profit based on the logic of environmental determinism such as contingency theory, organizational ecology, and industrial organization. The second research stream contends with the logic of resource-based view that performance is influenced not by external environment but by internal resources. The third research stream is interested in the synergistic effect on performance and based on the logic of diversification research that a firm with high relatedness among its SBUs has more chances to create synergy to attain high performance. Each of the three factors includes broad concerns and issues enough to build its own research stream and the considerable and diverse issues have been discussed within the factor. But little attention is given to the issues that lies across the factors. Being aware of this limitation, this study seeks to integrate the three different factors from three different theories. I first introduce the three major theories of environmental determinism, resource-based view, and diversification research that explains the performance of the firm, suggest environmental uncertainty, resource level, and inter-SBU relatedness as main variables and analyze their respective effect on firm’s performance to verify the efficacy of the theories. I also interpret the interaction effect between the variables to integrate the theories. According to empirical results, resource level and inter-SBU relatedness affect performance in positive ways, but environmental uncertainty does not. The interaction of environmental uncertainty and resource level affects performance in a negative way, which means a firm with abundant resources in stable environment tends to be a high performer. The interaction of environmental uncertainty and inter-SBU relatedness affects performance in a positive way. It means that the effect of inter-SBU resource sharing, the influence of resource sharing based on inter-SBU relatedness on performance, decreases in stable environment, but increases in uncertain environment. The interaction of resource level and inter-SBU relatedness does not affect performance, which is an unexpected result. It is somewhat exceptional in that there is no combination effect between them while their respective effects are valid. The contribution of the study is that I verify the efficacy of the theories that explain the performance of the firm in strategic management field by presenting environmental uncertainty, resource level, and inter-SBU relatedness as the three main variables and by investigating their influences on performance and that I attempt to integrate the theories by analyzing the interaction effects between variables. Some studies include the issues of searching for the fit between strategy and environment, but they pursue only the integration of variables, not theories, and most studies do not consider the variables or the theories of synergy in integrating or compromising arguments. By considering the inter-organizational aspect as well as the internal and the external aspects of an organization, this study covers the wider range of issues than prior studies.

많은 사람들이 성공적인 사업가가 되기를 꿈꾼다. 하지만 그들 중에서 일부만이 성공을 하는 것이 사업 세계의 현실이다. 창업이나 사업에 대한 태도는 사람마다 다양하다. 각 국가마다 창업이나 사업의 성공과 실패에 대한 평가와 태도가 다양하다. 사업실패에 대한 관용이 약하다면 많은 유망한 잠재적인 창업가들이 사업을 하려고 하지 않을 것이고, 유망한 사람들의 창업이나 사업시도가 줄어들면 그 사회에서 성공적인 사업가가 되기를 꿈꾸는 사람들이 줄어들 것이다. 따라서 실패에 대한 연구는 매우 중요하다. 본 연구에서는 조사대상자의 사업경력, 즉 사업운영경험이 있는지의 여부, 사업실패 경험이 있는지, 현재 사업을 하고 있는지에 따라 사업에 대한 태도에 어떤 차이가 있는지를 조사하고자 하였다. 또한 사업 태도에 영향을 미치는 변수는 어떤 것인지를 조사하였다. 본 연구는 예비조사를 거쳐서 본조사 설문지를 확정한 후 640명으로부터 설문을 받아서 617부를 분석대상으로 사용하였다. 설문의 주요 구성은 사업에 대한 태도, 사업실패에 대한 두려움, 창업의욕 등의 부분으로 구성되어 있다. 연구대상자의 성별은 여성이 23%이고 남성이 76%를 차지하였고, 교육은 대졸 이상이 68%로 가장 많은 비중을 차지하였다. 과거 사업경험은 약 40%가 사업경험이 있었고 약 60%가 과거 사업경험이 없었다. 연구대상자들 중에서 약 34%가 현재 사업을 하고 있었고, 약 70%가 창업 경험이 있었다. 사업실패를 경험한 응답자가 112명으로 설문응답자의 약 18%를 차지하였다. 본 연구의 차별성은 실패경험이 있는 사업가와 실패경험이 없는 사업가들이 실패에 대한 인식차이를 파악하고 사업을 운영하고 있는 사업자와 사업을 운영하고 있지 않는 잠재창업자를 연구대상으로 하였다는 점에서 기존 연구논문들과 차별점이 있는 연구라고 할 수 있겠다. 이 연구의 연구결과는 다음과 같다. 첫째, 남성이 여성보다 사업운영경험, 사업실패경험이 많았고, 현재 사업을 운영하는 경우가 많았다. 사업을 운영한 경험이 있는 경우 그리고 현재 사업을 운영하고 있는 경우 대학원 졸업자의 비중이 많아 고학력자임을 알 수 있었고. 연령이 평균 45세로 그렇지 않은 경우보다 10살 많았으며, 부모가 창업경험이 있는 경우가 많았다. 둘째, 사업운영 경험이 있는 경우, 사업실패경험이 있는 경우, 현재 사업을 운영하는 경우 대체로 사업에 대해 긍정적인 태도를 갖고 있었고, 사업실패두려움에 대해 강하게 인지하고 있었고, 창업에 대해 적극적인 태도를 보는 것으로 나타났다. 셋째, 남성, 사업경험이 있는 경우, 사업실패두려움이 적을수록 사업에 대해 긍정적 태도를 가지고 있는 것으로 드러났다. 끝으로 연령이 많을수록 사업실패두려움이 적을수록 창업의사가 적극적인 것으로 밝혀졌다. 조사대상 샘플 크기와 성별의 샘플 차이 등이 본 연구의 한계점이다. 실패와 실패자에 대한 추가적인 심층 연구가 필요하다. 또한 창업의욕과 사업의욕의 고취를 위해서 사업실패에 대한 두려움을 완화시킬 수 있는 정책적인 조치들이 필요해 보인다

Majority of the people have dream of becoming successful entrepreneurs. However, in reality a few of them can enjoy the fruits of the harsh business. There are diverse attitudes on start-up and business. Each country has different attitudes on the failure and success of the start-up or business. If the tolerance level for business failure is not high enough, not many potential entrepreneurs would try to start-up new businesses nor try to find new business opportunities. Then the enthusiasm for business will be slow down and the society may lose many promising potential new business personnels. Therefore the study for failure is getting more important. This study is different from other studies. First, the target for the study was both people who had business experiences and people who had no business experiences. Second, it was analyzed whether there are some differences between people who had experiences of business failure and people who had no business failure experience. In this research, it was investigated how one’s business career, that is to say if he is with business background, has business failure experience or runs a company at the moment. And we studied these facts affect to one’s manner related to enterprise and family establishment. Besides, we searched other factors that influence to this attitude. The results are the followings. Research questionaries were made from advanced research and amended through preliminary study. Total data collected were 640 samples and 617 samples were analyzed for this study. Demographic data for this study were as follows. The sexual ratio in this research was 23% female and 76% male. More than 68% of the answers graduated university and colleges. 40% of the sample answers had business experiences and 60% of the people had no business experiences. 34% was running business at the time of collecting research questionaries. Among them 18% had experiences of business failure. First, men had more experience in enterprise operation and business fail compared to women. They showed higher percentage of running business in the present than women as well. Besides, we found that people, who currently manage business, tend to be highly educated with higher proportion of graduates. Their average age was 45, 10 years higher than those who do not run operation. It also turned out that their parents were more likely to with business background. Second, people with business managing or failure experience and those who run company at the moment had more affirmative posture toward enterprise and family founding. On the other hand, they had high perception in fear and danger of business fail. Third, people who are men or have business experience were optimistic about business. Also, those who are men, recognize strongly the risk of business washout or have business failure experience were more afraid of business failure. According to the research we also found that age had positive impact on entrepreneurial intention. And male and female showed different attitude on business and business failure. The fear on business failure had negative relation on entrepreneurial intention and business attitude. Therefore, special consideration and special policy on failure and people who had failure experience are necessary. However, this study had some limitation because of the sample size and sexual ratio of samples. Further study for the fear of failure and special policy by government are necessary.

본 연구는 한국의 자동차 판매 대리점의 종사원들을 대상으로 서비스 분위기의 선행요인과 결과요인에 관한 모델을 실증 분석하였다. 즉, 고객지향성과 심리적 임파워먼트가 서비스 분위기에 미치는 영향과 서비스 분위기가 서비스 성과(역할내 성과와 역할외 성과)에 미치는 영향을 분석하고 조직동일시가 서비스 분위기-서비스 성과 관계에 조절역할을 하는지에 관한 연구이다. 실증분석 결과, 조직동일시가 서비스 분위기-역할내 성과의 관계에 조절역할을 할 것이라는 가설을 제외하고 모든 가설들이 채택되었다. 즉, 영업직원이 인식하는 조직동일시는 영업직원의 지각된 서비스 분위기와 역할외 성과 간의 관계에서는 조절효과를 보였으나, 영업직원의 지각된 서비스 분위기와 역할내 성과 간의 관계에서는 조절효과를 보이지 않았다. 이는 대리점의 영업직원들은 주로 영업성과 즉 역할내 성과가 자신의 보상과 직결되는 거의 유일한 요소이기 때문이라는 추측을 가능하게 한다. 연구 결과에 근거하여 연구적 시사점과 실무적 시사점을 제시 하였다. 기존 연구에서는 임파워먼트와 고객지향성을 서비스 분위기의 하나의 속성, 혹은 결과요인으로 다뤘으나, 본 연구에서는 지각된 서비스 분위기의 선행요인으로 분석했다는 데에 선행연구와의 차별성이 있다. 본 연구는 주로 대리점을 연구의 대상으로 하였는데, 향후 직영점 채널에서 조직동일시의 효과를 검정해 볼 필요가 있다

This research tested a model involved in the antecedents and consequences of service climate. Specifically, the study determines (a) the relationship between both psychological empowerment and customer orientation and perceived service climate, (b) the influence of perceived service climate to service performance, including in-role and extra-role performance, (c) the role of organizational identification in moderating the relationship between perceived service climate and service performance. The present study contributes to the literature on service climate in that both perceived empowerment and customer orientation were used as antecedents of service climate, which have usually been treated as consequent variables in the previous studies. Our empirical findings indicated the positive effect of both psychological empowerment and customer orientation on perceived service climate, which, consequently led to a positive influence on service performance as hypothesized. this result suggests that salespeople who have a customer orientation tend to increase not only their feelings of obligation and positive reciprocity but also feeling of self-enhancement. The more salespeople were empowered, the stronger their recognition of being supported by the company. In addition, organizational identification positively moderated the relationship between the perceived service climate and extra-role performance, which was in accordance with the research of Zang et al.(2011) suggesting the positive role of social identity. However, the results did not provide support for the moderating effect of organizational identification on the relationship between the perceived service climate and in-role performance. This could possibly occur for this reason. The sample of the present study was drawn from Korean automobile salespeople who work for the car dealerships. Because car agents generally have more transactional and contractual relationships with one of the major manufacture companies, salespeople in the agents are considered to have lower quality of relationships with a car manufacture firm than salespeople recruited by the firm have. Thus, organizational identification of salespeople in the agents do not affect the relationship between service climate and in-role performance. In contrast, salespeople in the agents have stronger social exchange relationship with the agent to which they belong, which consequently leads them to go beyond the call of duty for the agent. We also found that higher perceived service climate was associated with improved service performance. This result is in accordance with that of Zang et al.(2011) and that of Tang and Tang(2011). The high level of service climate perception indicates that car agents value salespeople's customer-oriented selling behaviors and care about their well-being. Social exchange theory, as mentioned to above, provide a major explanatory foundation for perceived service climate. Feeling supported and valued by the agents probably can enhance salespeople’s adaptive selling behaviors which lead to the sales growth of the agents. Our study’s findings also suggest the perceived service climate serves as an integral mediating mechanism between customer orientation and service performance and between psychological empowerment and service performance. Salespeople with a stronger customer orientation enjoys the process of satisfying customer needs and feels higher level of self-achievement than Salespeople with a weaker customer orientation. The Korean automobile dealerships are recommended to focus more on fostering the individual level of empowerment than the organization-based empowerment. In order to enhance the individual level of empowerment, the dealerships should offer various human resources programs to increase their motivation, aspirations, and a sense of being supported. Considering that a salesperson with a strong customer orientation help customers make purchase decisions that satisfy the long-term wants and needs of customers, it may be helpful for managers to evaluate salespeople’s selling performance in a long-term base rather than assess them in a monthly base. This study has several limitations. First, this research was conducted with a convenience sample from only independent automobile dealerships of a single manufacturer. It is necessary to investigate sample from manufacturer-owned dealership as well, which may lead to produce different moderating effects of organizational identification from that of the present study. Second, more antecedent variable of perceived service climate need to be added to expand the present research such as personality, attitudes, and knowledge sharing.

인터넷 사용의 확산으로 금융환경이 크게 변화되고 있는 가운데 금융기관들은 오프라인 뱅킹과 인터넷 뱅킹에서의 소비자 행동을 정확히 인식하고, 이를 효율적으로 활용하는 새로운 생존전략이 필요한 시기에 직면해 있다. 대부분의 금융소비자들이 오프라인 뱅킹과 인터넷 뱅킹을 동시에 사용하고 있는 점을 고려할 때, 오프라인 뱅킹에서의 소비자 신뢰가 인터넷 뱅킹에서의 소비자 행동에 어떻게 영향을 미치는지를 분석하는 것은 매우 필요한 주제라고 생각된다. 이에, 본 연구는 전통적인 오프라인 뱅킹과 인터넷 뱅킹을 하나의 연계된 모델로 보아, 오프라인 뱅킹에서 형성된 소비자 신뢰가 인터넷 뱅킹에서의 웹 사이트에 대한 구조적 안정성, 웹 사이트 관심도, 그리고 웹 사이트 만족도에 어떻게 영향을 주는지를 분석하였다. 이를 위해 인터넷 뱅킹이 활성화되어 있고, 소비자 관심도가 가장 높은 은행을 대상으로 오프라인 뱅킹의 신뢰가 인터넷 뱅킹으로 어떻게 전이 되는지에 대하여 가설을 세워 설문조사와 요인분석 및 판별분석 등 실증분석과 검증을 행하였다. 분석검증 결과, 오프라인 뱅킹에서 형성된 소비자 신뢰가 인터넷 뱅킹에서의 웹 사이트에 대한 구조적 안정성, 사이트 관심도, 사이트 만족도 등에 유의한 영향을 주고 있음을 확인함으로써, 전반적으로 인터넷 뱅킹의 온라인 신뢰로 전이되고 있음을 알 수 있었다. 다만, 오프라인 뱅킹에서 형성된 은행신뢰와 직원신뢰가 각각 온라인상의 구조적 안정성과 사이트 관심도에는 통계적 유의한 영향을 주지 않은 것으로 나타났다. 그러나 오프라인 뱅킹에서의 신뢰요소인 은행신뢰, 상품신뢰, 직원신뢰는 인터넷 뱅킹의 환경 하에서도 금융소비자의 중요한 행동변수임을 시사하고 있다

Increasing world-wide usage of internet brings to changes of financial circumstance. Banks have to take survival strategies that analyze consumer behavior in off-line banking and internet banking. Now, it is timely to analyze the relation between consumer confidence in off-line banking and consumer behavior in internet banking. Because banking consumers use both off-line banking and internet banking. So this study analyzes how consumer confidence in off-line banking influences the structural stability, website interest and website satisfaction of internet banking website with regarding traditional off-line banking and online banking as one connected model. In other words, we studied that whether consumer confidence formed in off-line banking transfers to on-line internet banking or not. Hypothesis testing was examined using SPSS factor analysis and PLS path analysis. The conclusion is as follows. First consumer confidence which is formed in off-line banking generally transfers to on-line internet banking. But off-line bank confidence has no meaningful effect on on-line website structural stability. And staff trust on off-line doesn’t influence on-line website interest. Second structural stability and website interest on internet banking website have meaningful effect on website satisfaction in significance level p < 0.01. Third structural stability has influence on website interest in significance level p < 0.01. Specifically, formed from the existing off-line banking consumer trust, trust to financial products shows relatively high path coefficient. And trust to staff shows high path coefficient, too. So consumers who have high trust to financial products which was formed as a traditional off-line trading, may have high interest. Therefore, consumers who have high trust to off-line banking financial products will have a high interest in Internet banking for the bank’s Web site. And consumers with a high level of trust about the existing traditional off-line banking staff show relatively high level of trust to structural stability. Because website design, operation and running are done by the staff of the bank. Therefore banks have to concern about bank trust, product trust and staff trust on off-line. Because consumers use CD/ATM or internet banking, the mode of on-line transaction, is gradually getting out of off-line counter transaction. Because off-line banking trust connected to internet banking trust, it is important to reinforce off-line trust (bank trust, product trust, staff trust) so as to activate internet banking. Especially it is crucial to support consumer activities on internet and to enhance consumer confidence level which influences website interest and website satisfaction.

본 연구에서는 동일제품범주에 있는 여러 상표들을 여러 다른 제품범주에 동시에 상표를 확장하였을 때에 상표확장의 적합성 요소들인 속성유사성, 사용유사성, 개념유사성 및 목표유사성이 확장상품의 구매의도에 어떤 영향을 미치며, 상표연상의 전형성, 현저성 그리고 지배성이 확장상품의 구매의도에 어떤 영향을 미치 는지를 알아보고자 하였다. 그리하여 확장상품의 구매의도에 대해 적합성 요소들과 상표연상들을 회귀분석 하였다. 본 연구에서 나타난 주된 결과는 다음과 같다. 첫째, 회귀분석 결과에서 상표연상의 적합성 요소들인 속성유사성, 사용유사성, 개념유사성 그리고 목표유사성들이 확장상품의 구매의도에 유의한 영향을 미치는 것으로 나타났다. 또한 상표연상들은 지배성을 제외하고 전형성과 현저성이 확장상품의 구매의도에 정적으로 유의하게 영향을 미치는 것으로 나타났다. 둘째, 상표확장의 적합성 요소들과 상표연상들 가운데에서 개념유사 성이 확장상품의 구매의도에 가장 많은 영향을 미치는 것으로 나타났다. 그 외 속성유사성, 사용유사성 및 목표 유사성은 거의 동일한 수준으로 확장상품의 구매의도에 영향을 미치는 것으로 나타났으며, 상표연상의 전형성 보다 상표연상의 현저성이 확장상품의 구매의도에 더 많은 영향을 미치는 것으로 나타났다. 셋째, 다차원척도 분석에서 확장상품의 구매의도와 개념유사성이 거의 일치하는 것으로 나타났다. 다차원척도분석에서 여러 확장상품들은 적합성 요소들과 구매의도에서 각기 다른 위치를 차지하는 것으로 나타났다

This study is mainly focused on brand extension elements. This study is classify brand extension elements into brand associations (brand typicality, brand salience and brand dominance) and extension fitness (features similarity, usage similarity, concept similarity and goal similarity). This study investigated effects of brand fitness elements and brand associations on purchase intention of extension products. The main results of this study is following. First, the extension fitness elements (feature similarity, usage similarity, concept similarity and goal similarity) have influenced significantly on purchase intention of extension products. And typicality and salience of brand associations have influence significantly on purchase intension of extension products, but dominance of brand associations have not influence significantly on purchase intension of extension products. Second, brand concept similarity have the most influence on the purchase intention of extension products. Feature similarity, usage similarity and goal similarity have influenced almost equally on purchase intension of extension products. And typicality of brand associations have more influence than salience of brand associations on purchase intension of extension products. Third, Brand concept consistency have the same vector with extension products purchase intention in MDS analysis. Fourth, the brands used in this paper are much popular so maybe consumers think extension products are real existence. If it is real the results are too much reflect mother brand power. In past papers presented significant difference of interaction effects of feature similarity and concept consistency, feature similarity and goal congruency and concept consistency and goal congruency on brand extension. Feature similarity affected more low concept consistency than high concept consistency on purchase intention of brand extension. Also, feature similarity affected more low goal congruency than high goal congruency on purchase intention of brand extension. But concept consistency affected more high goal congruency than low goal congruency on purchase intention of brand extension. And in the other view point, as past paper, participants did not present significant difference in purchase intension of brand extension according to degrees of feature similarity, concept consistency and goal congruency. Concept consistency did not affect on purchase intention of brand extension in low goal congruency. Concept consistency affected on purchase intention of low feature similarity but did not affect on purchase intention of high feature similarity in high goal congruency. Feature similarity did not affect on purchase intention under high concept consistency and high goal congruency. Goal congruency facilitated more concept consistency than feature similarity in brand extension. Finally we have similar research and papers. But the results are don't have same or similar result. Besides a certain paper show reversw result. So we have to fulfill following research in these themes. After making and controlled result, the papers about brand extension are more useful and worth.

본 연구는 구성원의 직무태도에 부정적인 영향을 주는 조직정치직각을 해결하고 감소시키는 방안으로서 조직공정성을 실증 분석하여 기업조직의 조직정치 문제에 대한 이해를 넓히는 목적이 있다. 구성원이 조직 내 정치를 지각하게 되면 직무태도와 행동에 어떤 영향을 받고, 기업조직 환경에서 조직공정성 즉 분배공정성 절차공정성 상호작용공정성이 조직정치지각과 결과요인인 조직몰입, 이직의도, 조직시민행동 관계에서 조절효과를 분석하였다. 대상기업은 제조업, 공공서비스, 금융, 유통서비스, 정보통신, 보건의료 등 6개 업종으로 구성된 한국 대표기업 20개이며 정규직을 대상으로 사전 인터뷰 및 2011년 8월부터 2011년 9월까지 1,400부를 배포하여 유효한 설문지 1,128부를 분석하였다. 연구결과는 먼저 조직정치지각과 결과요인 관계를 보면 구성원이 조직정치를 지각하면 조직몰입과 조직시민행동에 부(-)의 영향을 주었으며 이직 의도에는 정(+)의 영향을 미치고 있다. 조직정치지각과 결과요인과 관계에서 조직공정성의 조절효과를 보면 첫째, 조직몰입에 대한 조직정치지각의 영향에서 절차공정성과 상호작용공정성이 조절효과가 있었다. 둘째, 이직의도에 대한 조직정치지각의 영향에서 상호작용공정성이 조절효과가 있었다. 셋째, 조직시민행동에 대한 조직정치지각의 영향에서 분배공정성과 상호작용공정성이 조절효과가 있었다. 연구결과를 토대로 조직정치 지각 연구의 시사점과 향후 연구방향을 제시하였다

The purpose of this study is to investigated the consequences of perceptions of organizational politics (POPs) and organizational justice. In general, perceptions of politics (POPs) is related to negative work outcomes. Perceptions of organizational politics (POPs) studies have been investigated such as various antecedent that influence organizational politics in company. Political behavior includes actions both positive and negative outcomes that are not a part of the job, and not officially sanctioned by the organization. Organizational politics can exist when rules for behavior and decision making are ambiguous or scarce, or when resources are limites or scarce (Byrne, 2005). This study investigates the relations that it is between perceptions of organizational politics and distributive justice, procedural justice, interactional justice, organizational commitment, intent to turnover, organizational citizenship behaviors (OCB). This study investigates the moderation effect that organizational justice had on the relationship between perceptions of organizational politics (POPs) and organizational commitment, intent to turnover, organizational citizenship behavior by analyzing the empirical data of 1,128 personnels collected from various organizations in Korea. The survey is based on a total of 20 companies including financial companies, manufacturing companies, university hospitals, information technology companies, public enterprise, retail company etc. This study appears to be a first to empirically test the supposition that organizational justice can be used to control the negative effects of Perceptions of organizational politics (POPs). The results from this study, therefore, provide insight into the perceptions organizational politics (POPs) and organizational justice relationship, which has seldom been investigated. We hypothesized that perceptions of organizational politics (POPs) would tended to negatively (positively) related to a high level of organizational commitment and intention to turnover, organizational citizenship behaviors, and that organizational justice would moderate the relationship between perceptions of organizational politics (POPs) and outcomes. These results suggest that organizational politics of perceptions had negative impacts on organizational commitment and organizational citizenship behaviors, while perceptions of organizational politics (POPs) had positive impact on intention to turnover. Furthermore, the level of organizational justice moderated the relationship between perceptions of organizational politics (POPs) and outcomes, procedural justice and interactional justice moderated in organizational commitment, interactional justice moderated in intention to turnover, distributive justice and interactional justice moderated in organizational citizenship behaviors. These results are empirical points of this study. It is necessary for CEO and TMT (Top Management Team) to try to reduce or control perceptions of organizational politics (POPs) of members for organizational outcomes. The critical points of this study would be covered by qualitative research for perceptions of organizational politics (POPs) and organizational justice, this surrey has a weakness that variables’ definition in western company and measurement have been carried out in a micro method. Based on these findings, implications of the research findings are discussed, and recommendation for future research and practice are provided.

본 연구에서는 상품파생상품의 금융화가 진전되고, 국내외 금융시장의 통합화가 진전되면서, 상품파생상품의 변동성과 국내외 금융시장들 간의 조건부 상관관계가 어떻게 변화 하는지를 살펴보았다. 국내 주요 금융시장변수로서는 KOSPI 지수, 3년 만기 국채 유통수익률, 원/달러 환율 등이 고려되며, 해외 금융시장 변수의 경우 세계 주식시장의 대표지수로서 MSCI 지수, 세계 채권시장의 대표지수로서는 CITI 지수, 상품파생 상품시장 변수로서 대표적인 상품파생상품지수인 CRB 상품지수, 에너지의 대표지수로서 WTI 지수 등을 선정했다. 먼저 변동성에 대해서 살펴보면, 글로벌 금융위기기간의 모든 금융변수들의 변동성은 급격하게 증가하는 양상을 보이고 있다. 단지, 글로벌 채권시장과 상품파생상품시장의 변동성의 경우, 상대적으로 작게 나타나고 있으며, 글로벌 금융위기기간에도 상대적으로 작게 상승하는 것으로 나타났다. 그러나 상품지수의 구성요소 중의 하나인 원유 지수 WTI의 변동성은 다른 금융변수에 비해서 상대적으로 큰 편이다. 상품파생 상품 지수인 CRB 및 원유선물지수인 WTI와 국내주식(KOSPI) 간의 조건부 상관관계, 상품파생상품지수 및 원유선물지수와 글로벌 주식(MSCI) 간의 조건부 상관관계, 상품파생상품지수 및 원유선물지수와 원/ 달러환율 간의 조건부 상관관계 등은 전반적으로 정(+)의 값을 가지는 것으로 나타났으며, 글로벌 금융위기 이후 그 관계가 더 강화되는 것으로 나타났다. 그리고 원유선물지수인 WTI와 국내금리(KTR3) 간의 조건부 상관관계, 상품 파생상품지수(CRB) 및 원유선물지수(WTI)와 글로벌 채권시장(CITI) 간의 조건부 상관관계 등은 전반적으로 정(+)의 관계를 나타내고 있으며, 글로벌 금융위기 이후 그 관계가 더 약화되는 것으로 나타났다. 이러한 상품파생상품의 금융상품과의 조건부 상관관계의 변화는 전통적으로 대체투자 자산군으로 분류되어 왔던 상품 파생상품을 대상으로 한 투자나 위험관리에는 좀 더 신중한 분석이 요구됨을 의미한다. 상품파생상품의 금융화와 글로벌 금융위기로 인해서 상품파생상품의 자산군으로서의 특징이 많이 변화되었기 때문이다

In this paper, it is analyzed how the conditional correlations among commodity derivatives and domestic and global financial markets changes as the commodity derivatives financialize deeply. Recent development in commodity derivatives markets have exceptional in many ways. One of them is the financialization of the commodity derivatives. As the global economy is getting deeply integrated and performances of capital markets remain relatively low and the demand for raw materials surges, significantly increased amounts of money have flowed into the commodity markets. As a result, the market capitalization of the commodity derivatives markets has sharply increased since 2004. The financialization of the commodity derivatives changes characteristics of the commodity markets. Volatilities of prices of commodity derivatives increase and correlations between equities or bonds are changed. In this research, main concerns are volatilities and conditional correlations among commodity derivatives markets and global financial markets. Those include Korean stock market (KOSPI), Korean bond market, Korean won, US dollar foreign exchange market, global equity market (MSCI), global bond market (CITI), commodity derivative market (CRB), and energy market (WTI). DCC-MGARCH model is used to analyze volatilities of each index and conditional correlations among all variables. Volatilities of all indexes are sharply increased during the period of the global financial crisis. Volatilities of global bond market and commodity derivative market are relatively mild even during the crisis period. The index CITI for the global fixed-income market is composed of treasury bonds that are relatively stable than any other corporate bonds or equities. Relative low level of volatility of the commodity index is due to the heterogeneities of the composition of CRB index. However, the volatility of the crude oil market (WTI) is larger than those of other financial markets. Estimated conditional correlations change dramatically. The conditional correlations between commodity derivatives (CRB, WTI) and equity markets (KOSPI, MSCI) show overall positive, and they are strengthened after the global financial crisis. This is because the composition ratio of the oil in the commodity index is biggest. And the herding behavior of investors during the crisis period makes the degree of co-movement of KOSPI and MSCI prices higher. The conditional correlation between KOSPI and CRB shows overall positive and goes up during the crisis period, as does that of between KOSPI and WTI. This is due to the fact that, since the global financial crisis, investors regard increased demand for commodities and oil as the increased expectation of economic recovery. The conditional correlations between commodity derivatives (CRB, WTI) and fixed-income security markets show overall positive, but they are weakened after the global financial crisis. Since the financialization of the commodity derivatives and the global financial crisis changed characteristics of the commodity derivatives as the alternative asset class, investors and risk managers need to consider those changes

경영혁신은 오랜 기간 지속 발전하며 기업경영에 있어 불가분의 관계로 자리잡았으며, 많은 연구자들이 경영혁신의 효과에 관한 연구를 진행하였다. 최근 기업경영에서 주목받고 있는 또 하나의 화두는 위기이다. 2008년 9월의 글로벌 금융위기 등 예기치 못한 위기들이 빠르게 증가하며 기업의 위기관리 능력은 기업의 존폐에까지도 직접적인 영향력을 발휘하고 있다. 본 연구는 기업의 경영혁신과 위기시 기업이 받는 충격 및 위기 이후 회복력과의 관계에 대해 실증분석을 수행하였다. 분석에는 2006년부터 2010년까지 총 507개 KOSPI 상장기업 재무데이터를 수집하여 활용하였다. 먼저 분석대상 507개 기업을 14개 산업으로 분류하여 2008년 글로벌 금융위기로 인해 각 산업이 받은 충격량과 위기 이후 회복력을 분석하였다. 다음으로 3개 산업을 선정하여 해당 산업에 포함된 기업을 대상으로 위기 이전에 수행한 기업의 경영혁신 노력이 위기시 각 기업이 받는 충격 및 회복력에 주는 영향을 분석하였다. 분석결과는 다음과 같다. 첫째, 전 세계를 강타한 글로벌 금융위기로 인해 국내의 기업 및 산업도 큰 충격을 받았으며 위기 이후 서서히 회복되는 모습을 보이고 있다. 둘째, 위기 이전에 수행한 경영혁신 활동은 위기시 기업이 받는 충격 및 위기 이후의 회복력에 유의한 영향을 미친다. 다만 각 산업별로 영향의 정도 및 효과를 발휘하는 경영혁신 활동은 다르게 나타난다. 결론적으로 경영혁신은 기업이 위기를 맞이하였을 때에도 기업의 경쟁력을 유지시키는 효과적인 수단이 될 수 있다. 다만 기업들은 속한 산업 등 자사에 적절한 경영혁신을 현명하게 선택해야 할 것이다

Management innovation has continuously evolved for a long time and developed into an inseparable relation with enterprise management. Many researchers have studied on the performance of management innovation. Recently, one of the topics that receive people’s attention is crisis. As unexpected crises have been increasing rapidly since the global financial crisis in September, 2008, the ability of an enterprise for crisis management has direct influence on its sustainability. This study conducted an empirical analysis on the relations among Management Innovation, Impact which an enterprise receives from crisis and its Resilience Power after the crisis. For this analysis, the financial data of 507 enterprises listed on KOSPI from 2006 till 2010 were collected and utilized. First, 507 enterprises were classified into 14 industry groups, and the amount of impact received from 2008 global financial crisis and resilience power after the crisis were analyzed for each industry. Then, 3 industries were selected out of 14 industries, and for the enterprises in these selected industries, this study analyzed the influence of the enterprise’s effort for management innovation, previously executed before the crisis, on the impact and resilience power of each enterprise at the time of crisis. The result was as follows:First, enterprises and industries in Korea received a great impact from the global financial crisis and showed their gradual recovery after the crisis. Second, the efforts of management innovation executed before the crisis gave a positive influence on the impact that the enterprise received at the time of crisis and its resilience power after the crisis. However, the degree of such influence and activities of management innovation that produce effects at the time of crisis are shown to be different for each industry. As a conclusion, management innovation can be effective tools to make the competitiveness of an enterprise sustain even when it encounters a crisis. However, enterprises should select the most appropriate management innovation for each industry and enterprise. The theoretical contribution of this study is to propose a solution for quantifying the impact received from the crisis by the definition of amount of impact and resilience power and to measure them for industries and enterprises. In addition, this study proposed a method to measure the level of enterprise’s management innovation activity and analyze the relations with crisis empirically by utilizing the indexes from financial statements. It has been proved in many studies that management innovation activity could raise the competitiveness of enterprise. However, there still remains a difficult problem in suggesting clearly what can be the management innovation activity optimized for each enterprise. This study analyzed this only for three industries but will need more comprehensive and detailed analysis in the future research.

본 연구의 목적은 기술 기반의 신생 중소기업을 대상으로 조직성과에 미치는 기업특성 및 인적 자원관리 제도화의 직접적 효과, 간접적 효과 행태를 분석하는 것이다. 본 연구의 표본기업은 신생중소기업 414개사를 대상으로 하였으며 수집된 자료는 구조방정식 모형을 활용하여, AMOS(Analysis of Moment Structure) 18과 PASW(Predictive Analytics Soft Ware) Statistics 18 패키지 프로그램을 이용하여 통계처리 하였다. 이를 논의된 내용을 종합하면 다음과 같다. HRM 제도화에 의해 매개되는 효과 분석결과에 의하면 전략체계가 조직성과에 미치는 간접효과는 직접효과보다 효과가 큰 것으로 나타나 상당부분 긍정적 매개 기능을 하는 것으로 보인다. 전략마인드가 조직성과에 미치는 영향에 있어서 HRM 제도화는 이직률과 인당매출액에는 긍정적 매개 기능을 하고 있는 반면 매출액성장률에는 부정적 매개 기능을 하고 있는 것으로 나타났다. 기업규모가 조직성과에 미치는 영향에 있어서 HRM 제도화는 이직률과 인당매출액, 매출액성장률 모두에 긍정적 매개 기능을 하고 있는 것으로 보인다. 마지막으로 업력이 조직성과에 미치는 영향에 있어서 HRM 제도화는 이직률과 인당매출액에는 긍정적인 매개역할을 하는 반면 매출액성장률에는 부정적 매개 기능을 하고 있는 것으로 보인다

The research was designed to analyze how exogenous variables such as organization’s strategic system, leader’s strategy mind, organization’s size, and organization’s history affect endogenous variables that is HRM(Human Resource Management) institutionalization and organizational performance which is composed of turn over rate, sale per person, sales growth rate in theirs forms of behaviors by holistically studying the behavior patterns of start-ups, small and medium sized company. Many research studies focused on how human resource management practices affect their organizational performances have been conducted. Existing studies on the organization’s traits, HRM policies and organizational performance have focused mainly on examining the direct relationship. Consequently, there have not been sufficient studies of the actual process by which HRM institutionalization brings mediating effect about organizational performance in start-up, small-sized firms. Data were collected as the samples of this research. Model was set by structural equations models(SEM) using AMOS(Analysis of Moment Structure) 18 and PASW (Predictive Analytics Soft Ware) Statistics 18 package program using business data for the 414 small-sized firms. The following hypotheses are developed based upon the previous research and the books on organizational performance including HRM institutionalization. Data were extracted from objective one, and empirical analysis was conducted via AMOS. The hypotheses on the direct or indirect influence of organization’s strategic system, leader’s strategy mind, organization’s size, and organization’s history and HRM institutionalization and organizational performance are as follows:Hypothesis 1: organization’s strategic system have a low positive direct effect on the organizational performance and have a high indirect positive effect via HRM institutionalization. Hypothesis 2: leader’s strategy mind have a low positive direct effect on the organizational performance and have a high indirect positive effect via HRM institutionalization. Hypothesis 3: organization’s size have a low positive direct effect on the organizational performance and have a high indirect positive effect via HRM institutionalization. Hypothesis 4: organization’s history have a low positive direct effect on the organizational performance and have a high indirect positive effect via HRM institutionalization. The conclusion from the analysis through setting up a hypothesis is as follows:First, management’s leadership variable was partly adopted as the variable influencing on the organizational performance via HRM institutionalization. As a result of the empirical analysis, the indirect effect on the management’s leadership traits to organizational performance was turn over rate, sale per person which it showed significant effect at the significance level of 0.001%. Second, leader’s strategy mind variable was partly adopted as the variable influencing on the organizational performance via HRM institutionalization. As a result of the empirical analysis, the indirect effect on the leader’s strategy mind to organizational performance was turn over rate, sale per person. Third, organization’s size variable was adopted as the variable influencing on the organizational performance via HRM institutionalization. As a result of the empirical analysis, the indirect effect of the organization’s size to organizational performance was turn over rate, sale per person and sales growth rate which it showed significant effect at the significance level of 0.001%. Fourth, organization’s history variable was partly adopted as the variable influencing on the organizational performance via HRM institutionalization. As a result of the empirical analysis, the indirect effect of the organization’s history to organizational performance was only sale per person which it showed significant effect at the significance level of 0.001%. This study confirms that organization’s traits has a low direct influence on the efforts and performances an organization. It also confirms the mediating effect of HRM institutionalization on the relationship between organization’s traits and organizational performance. Thus the HRM institutionalization significantly exercise influence on the turnover rate, sale per person, sales growth rate of indirect effect.

관광객은 쇼핑을 통해 관광체험에 대한 기억을 기념품의 형태로 남긴다. 또한 쇼핑행위 자체는 관광비용 지출에서 상당부분을 차지한다. 면세점은 관광객의 쇼핑행위가 주로 일어나는 곳이고 최근 지속적인 성장세를 보여주고 있는 반면 면세점에서 근무하는 판매원들은 직무불만족과 이직률 증가라는 문제점을 가지고 있다. 본 연구는 면세점이 고객만족을 통한 경쟁력 확보를 위해 운영하고 있는 고객관계관리(CRM) 시스템을 어떻게 판매원에게 내면화시키고 이를 직무만족과 직무몰입으로 연결시킬 수 있는가를 알아보았다. 서울과 부산에 위치한 면세점에서 직접고객을 대면하고 구축된 고객관리관계를 운용하는 일선 판매원 251명을 대상으로 한 연구결과 고객관계관리 운용이 직무만족 및 조직몰입에, 직무만족이 조직몰입에 유의한 영향을 미치는 것으로 나타났다. 이를 통해서 고객관계관리는 단순한 직무효율성 차원이 아닌 조직의 문화로 승화 시켜야 비로소 고객만족을 내부적 직무만족으로 연결시켜야 함을 시사점으로 제시한다

Shopping is integral parts of tourist's behaviors in tourism context. Tourist experience is intangible in nature, which leave him or her only handful memories after the vacation. One of efforts to overcome intangibility of experience to take picture and purchase souvenir. Recent heydays of duty-free shop is in part explain vacationer's high involvement in shopping with high value item in duty-free lower price tag. The idea of research note with that hostile job environment prevailing hospitality industry also are found in duty-free shop sales person, Fully noticing that human resources are core competency in hospitality and sales industry, job dissatisfaction and low organizational commitment will eventually lead to high turnover rate. On the other hand, duty-free shops strategically have deployed CRM(customer relationship management) to gain the competitiveness and enhance the satisfaction level. CRM is not merely IT system that operated by sales-person but have far reaching effect on organizational system, strategy and shared value. It is managerial priority that how sale-person internalize idea of market and customer orientation incorporated in CRM. The objective of study is that whether CRM can internalize the market and customer orientation at employee level, hypothetizing the variables such as job satisfaction and organizational commitment. Self-administered questionnaire are designed in high validity and reliability. Conducting factor analysis yielded KMO(Kaiswe-Meyer-Olkin) Test yielded .889 and Bartlett's Test of Sphericity were 1839.543 and significant level of .000. Cronbach alpha test were acceptable over .780’s. Over the 251 questionnaire was collected from sample group in “L” duty-free shop sales person in Seoul and Busan over four weeks from September 13 2010 to October 9 2010. Reflecting duty free shop job market, 96% of sample were female in their 20’s and 30’s. Finding reveled that CRM can significantly influenced to employee’s job satisfaction and organizational commitment and also job satisfaction significantly influenced organizational commitment. Unfortunately, some of variables failed to validate hypothesis, especially “benefit and information” and “special care program” proved not significantly effect the job satisfaction and organizational commitment. It is interpreted that CRM methods above are already namely, de-facto standard in industry and they are expected not to be impressive on working condition. More elaborared CRM techniques are required. For the practitioners, CRM should not be a mere operating system but be internalized by employee as corporate culture.

현대기업은 스스로가 변화를 주도하고 추진해야 한다. 즉, 조직변화는 조직의 생존을 위한 필연적 과제가 되었다고 해도 과언이 아니다. 조직구성원들은 수행하는 과업이 복잡․다양해지면서 신지식과 기술을 습득하고, 변화하는 환경에 적응해야 하는 압박감이 커지고 있다. 이러한 변화과정에서 구성원들은 현재에 대한 혼란과 미래에 대한 두려움을 느낄 수 밖에 없을 것이다. 조직구성원들은 이러한 심리적 불안감으로 인해 조직변화에 저항하게 된다. 구성원들의 저항은 조직변화에 가장 큰 장애물이 되며, 조직을 효과적으로 변화 시키기 위해서는 구성원들의 심리적 안정감을 제고하고, 구성원들이 변화에 몰입할 수 있는 환경을 만들어 주는 것이 선행되어야 할 것이다. 조직변화과정에 구성원들의 몰입이 중요한 역할을 수행하지만, 조직변화적인 측면에서의 몰입은 거의 주목을 받지 못하였으며, 조직변화몰입(commitment to organizational change)은 Herscovitch and Meyer(2002)가 몰입의 일반모형을 조직변화 상황에 적용하면서 제안되었다. 이에 본 연구 에서는 사회적 교환관계를 대인간 교환관계와 팀-개인간 교환관계로 분류하여 조직변화몰입과의 관계를 검증해 보고자 하였다. 실증검증결과를 요약하면 다음과 같다. 첫째, 대인간 교환관계로 고려한 상사지원과 LMX가 조직변화몰입과 유의한 관계임이 검증되었다. 둘째, 팀-개인간 교환관계로 고려한 팀지원과 TMX가 조직변화 몰입과 정(+)의 관계임이 입증되었다

Modern enterprise itself lead changes and should be pursued. In other words, the organizational change was inevitable challenges for the survival of the organization is not an exaggeration. Organization members to perform the task complicated. Diversify as acquiring new knowledge and skills to adapt to a changing environment, and pressure is growing. These members of the current confusion and fear for the future, in the process of change will not only feel Members of the organization due to these psychological anxiety, and resistance to organizational change. Will enhance the psychological wellbeing of the members of the organization in order to effectively change, and to create an environment where members can immerse themselves in the changing resistance of the members of the organization, is the biggest obstacle to change is to be followed. The commitment of the organization in the change process plays an important role, but not received nearly the attention and commitment in terms of organizational change, Herscovitch and Meyer (2002)’s general model of commitment apply to the situation changes in the organization, as has been proposed. Little research related to commitment to organizational change has been done. Therefore, This study is a small implications. The purposes of this paper are to examine the relationship between interpersonal exchange (perceived supervisor support and LMX) and commitment to organizational change and to examine between team-personal exchange (perceived team support and TMX) and commitment to organizational change. To obtain data for a practical analysis, we carry out a online survey. The number of questionnaires that were really used for the analysis is 466 copies. Hierarchical regression analysis was used and demographic variables such as age, gender, marital status, education level, industry, department, position, tenure, employment type were controlled in regression equations. The results of this study could be summarized as follows. First, both of perceived supervisor support and LMX were positively related to commitment to organizational change. Second, both of perceived team support and TMX were positively related to commitment to organizational change. Finally, we carry out an additional analysis (gender and employment type). The results of additional analysis could be summarized as follows. First, perceived supervisor was positively related to commitment to organizational change in the male data (p < .1). Second, TMX was positively related to commitment to organizational change in the male and female data (p < .001). Third, perceived supervisor was positively related to commitment to organizational change in the part-time employees data (p < .1). Fourth, TMX was positively related to commitment to organizational change in the full-time and part-time employees data (p < .001, p < .01). Implications and limitations of this study are as follows. First, in future studies, affective, continuous, normative commitment to organizational change should be classified. Second, longitudinal studies are needed rather than longitudinal studies. Third, part-time employees is required broad support for the policy. Finally, it is necessary to study the result of commitment to organizational change.

본 연구는 기업지배구조가 감사보수와 감사시간에 어떠한 영향을 미치는지 실증연구 하였다. 본 연구의 배경은 최근 유럽의 그리스, 이탈리아, 스페인 등을 비롯하여 세계 각국의 경제위기와 기업경영환경의 불확실성 증가로 인해 자본시장에서는 기업 경영과 회계정보투명성에 대한 회계감사에 대한 관심이 증가하고 있다. 따라서 본 연구의 목적은 이러한 점에 착안하여 국내 감사시장에서도 감사보수 자율화 이후 감사보수 책정에 기업지배구조가 유의적인 영향을 미치는 지를 분석하고, 기업지배구조가 우수한 기업에서는 감사 위험이 낮게 평가되어 감사시간과 감사보수가 낮게 책정되고 있는지를 검증하고자 한다. 연구결과 <가설 1> 기업지배구조와 감사보수의 관련성, <가설 2> 기업지배구조와 감사시간의 관련성은 모두 유의한 정(+)의 상관관계가 있다. 이 결과는 기대부호 음(-)과는 반대로 양(+)의 부호로 나타났다. 그 이유는 정확히 알 수 없지만 1) 우리나라 감사시장에서는 아직 기업지배구조가 감사보수에 반영되지 않고 있거나, 2) 감사업무 분량과 재무보고체계 등 감사위험을 고려하지 않고 있거나, 3) 개인적 인간관계나 인맥으로만 단순하게 감사보수를 체결하는 것으로 추정되어진다. 본 연구의 차이점은 대부분 선행연구들이 재무자료와 감사보수를 연구 분석한 데 비해 본 연구는 재무자료 뿐만 아니라 기업지배구조라는 비재무자료도 포함하여 감사보수를 연구한다는 점이 의의가 있다

The paper is a study on effects of corporate governance on audit fees and audit hours. If the function of corporate governance and bankruptcy risk affects the risk of bankruptcy, will play an important role in the delivery of corporate information. Europe, Greece, Italy, Spain, etc., as well as the background of this study, due to the world economic crisis and the increase in the uncertainty of the business environment in the capital markets interested in business management and accounting information transparency on audit has been. Distrust of management and capital markets in recovery and relieve the adhesion of the Auditor U.S. firms in the United States after the Enron experience, and continuing efforts to enhance the competitiveness race, and the United States government issues the auditor’s independenceand solving for improving corporate governance through sound financial structure and corporate accounting information transparency to ensure Sarbanes-Oxley Act was enacted. Therefore, corporate management and transparency of accounting information will be reflected in the corporate governance characteristics. Outside investors due to asymmetric information and agency costs for firms with poor corporate internal control systems vulnerable corporate financial structure and the cost of collecting information on corporate governance should reflect. Of excellent corporate governance applicable increase corporate value by increasing the company's accounting information transparency and the monitoring role of corporate executives. Outside Auditing by December 2001 when corporate governance audit fee pricing in our country since the 1999 audit fee liberalization increases reflect on how interest is, society and the Financial Supervisory Service (FSS), Korea report on the business of the corporation of Certified Public Accountants, accounting disclosures to report by the business and was able to identify the factors affecting audit fees. As a result, research on audit fees has been the subject of interest. The purpose of this study is the idea at this point, in the national audit market priced in the audit fees, audit fees liberalized since corporate governance have a significant impact on whether the analysis is excellent companies in corporate governance, audit risk is underestimated audit hoursto verify and audit fees are low priced.Hypothesis 1: Corporate governance score will have a significant impact on audit fees. Hypothesis 2: Corporate governance structure will significantly affect the score at the time of the audit. First, the results of the analysis of the relevance of the audit fee hypothesis 1 Well, expect sign (-) instead of regression coefficients of the main variables of interest (independent variables), corporate governance (CGI) sign Hypothesis 2 positive (+)showed the value of These results, the amount of audit fees as CGI superior enemy would predict the opposite result was The results of this study is that the greater the amount of audit fees as CGI superior Second, Hypothesis 2 audit hours relevance of the analysis results, the regression coefficients of the independent variables of corporate governance (CGI) marks the sign of negative expectations (-sign) Unlike Hypothesis 2> significant amount of (+)value was Thank these with excellent results CGI short time predictions with excellent CGI, and the audit is that the longer the time. Of this study, the difference is that most studies present study, compared to the research analysis of financial data and audit fees, audit fees, financial data, as well as corporate governance materials, including non-financial research has significance.

본 논문은 가계신용 증가율과 장기금리에 대하여 한국은행을 통하여 제공된 지수를 이용하여 상호간의 정보전달 메커니즘을 규명하는데 있다. 표본자료는 1995년 3분기부터 2011년 3분기까지 17년간 분기별 자료를 이용하여 동태적 분석방법인 VAR 모형을 이용하여 그랜즈 인과관계 분석(Granger Causality test)과 충격반응분석(Impulse Response Function) 및 분산분해(Variance Decomposition)를 실시하였다. 주요 분석결과는 다음과 같다. 첫째, 그랜즈 인과관계 분석결과 장기금리는 가계신용금액에 선행하여 예측력이 있어 금리변동에 따라 가계신용금액이 변동함을 알 수 있었다. 그러나 가계신용금액은 장기금리 중에서 회사채(AA-, 3년)에 한해서만 선행하여 예측력을 지니고 있는 것으로 나타났다. 둘째, 충격반응함수의 분석결과 장기금리가 가계신용 증가율에 영향을 미치다가 일정시점이후에 충격이 사라져, 금리가 상승할 경우 가계신용금액이 감소하며, 금리가 하락할 경우에는 가계신용금액이 증가하는 것으로 추론할 수 있다. 마지막으로 분산분해 분석 결과 가계신용금액증가율은 장기금리에 의하여 일정부분 영향을 받는 것으로 나타났으나, 장기금리인 국민주택 1종금리(5년), 국고채권금리(3년, 5년), 회사채(AA-, 3년)금리는 자기 자신의 오차에 의해 거의 영향을 받는 것으로 나타났다. 본 연구는 기존 단기금리와 단기대출간의 상호연관성에 관한 연구를 확대하여 가계신용금액과 장기금리와의 상호연관성을 분석하였다는 점에서 가계신용금액과 장기금리와의 정보이전 메커니즘을 파악하였을 뿐만 아니라 은행들의 대출정책 수립에 기여할 수 있을 것으로 판단된다. 즉 금리상승은 대출원리금 상환을 지연 및 연체시킬 뿐만 아니라, 신규 가계대출을 감소시켜 은행의 건전성 유지에 영향을 미칠 수 있기 때문에 금리변동에 따라 은행의 예금 및 대출정책을 탄력적으로 조정하는 정책이 필요하다고 사료된다. 따라서 금리가 상승할 경우에는 은행대출 감소에 따른 은행수익 감소를 다른 수익을 통하여 상쇄시켜야 하며, 금리가 하락할 경우에는 가계대출 증가에 따른 가계대출자들의 신용상태를 재평가할 수 있는 시스템이 필요할 것이다

This dissertation is to verify the efficiency (correlation) of household credit and long-term interest rates by revealing mechanism of their interrelationships from related indices provided by Bank of Korea. Both long-term interest rates and household credit would not have any effect on each other if they had perfect efficiency. However, if there is inefficiency between two markets, they have an effect on each other, and the size of household credit may differ according to changes in long-term interest rates. Sample data are based on the amount of household credit for 65 samples in 17 years from 1995 3Q to 2011 3Q, and its increase rates are calculated in quarterly basis. Granger causality test, impulse response function and variance decomposition are computed with VaR (dynamic analysis method) using yield rates of housing bond 1 (5 years), Government bond (3 years), Government bond (5 years) and corporate bond (AA-, 3 years) which periods same as that of household credit. As a result of analysis on basic statistics subject to household credit increase rates and long-term rates, average increased rates of household credit amounts is 2.99% in quarterly basis during the analyzed periods. Average yield rate of housing bond 1 (5 years) and Government bond (3 years) are 7.04% and 6.75% respectively and that of both Government bond (5 years) and corporate bond (AA-, 3 years) is shown as 7.01%. Standard deviation which shows volatility is figured out as 2.91% for housing bond 1 (5 years), 3.35% for Government bond (3 years) and 3.22% for both Government bond (5 years) and corporate bond (AA-, 3 years). To verify stability of time series model for household credit increase rates and long-term interest rates, a unit roottest was taken. As a result, the null hypothesis is accepted as “there exists a unit root in case of standard variables.” However, it is dismissed in case of defference variables. Thus, analyses have used a VaR model which does not consider errors. Main analyses results are as follows;First, Granger causality test results showed that the long-term interest rate leads household credit amount. In other words, the analysis demonstrated that the F statistical amount values were 3.38, 2.87, 2741 and 6.96 each, which were dismissed from the significant level. Because long-term interest rate led the household credit amount, it is possible to know that the household credit amount changed according to the change in interest rate when it comes to forecasting ability. However, household credit amount did not have forecasting ability, leading some form of long-term interest rate. In other words, it is possible to know that the household credit amount changed according to the change in interest rate since there is forecasting ability by leading the household credit amount when it comes to national housing type 1’s interest rate(five years), treasury bond’s interest rate (three years, five years) and corporate bond’s (AA-, three years)interest rate, which are long-term interest rates. However, it was shown that the household credit amount does not have forecasting ability, leading certain long-term interest rate. Second, the results of the impulse response function analysis demonstrated that the household credit growth rate exerted instant effect on the long-term interest rate while the shock disappeared at the time difference 3 and time difference 5. Moreover, household credit amount continued to exert negative (-) effect. Thus, household credit decreased when long-term interest rate increased. It is possible to deduce that the household credit increased when the long-term interest rate decreased. In other words, national housing type 1’s interest rate(five years), treasury bond’s interest rate (three years, five years) and corporate bond’s (AA-, three years)interest rate, which are long-term interest rates continued to exert negative (-) effect on the household credit amount. Thus, household credit amount decreased when the interest rate increased. When interest rate decreased, household credit amount increased. Lastly, analysis on the variance decomposition demonstrated that the household credit amount growth rate is partially affected by long-term interest rate. However, national housing type 1’s interest rate (five years), treasury bond’s interest rate (three years, five years) and corporate bond’s (AA-, three years)interest rate, which are long-term interest rates appeared to be affected only by their own margin of error. In conclusion, national housing type 1’s (five years)interest rate, treasury bond’s (three years and five years)interest rate, corporate bond’s (AA-, three years)interest rate, which are long-term interest rates, have forecasting ability, leading the household credit amount. Moreover, it is possible to know that the household credit amount changes according to the change in interest rate. Accordingly, given that the long-term interest rate is an important factor that determines household loan and credit based sales, these research results are expected to contribute to the development of all types of loan policies and credit policies by the banking and non-banking industries. This research can be considered meaningful in the sense that the lead/lag effect with the household credit and long-term interest rate were analyzed.