Earticle

The economic paradigm has been rapidly changing from traditional manufacturing based concept toward the new era for knowledge management system(KMS) based and emotional pull marketing economy(e-Marketing) based on e-business. These two paradigm shifted the traditional definition of productivity from input versus output toward the qualitative as well as invisible value creativity of "virtual production". The paper analyzes the characteristic of this neo-productivity in terms of value created by the innovative action costs by the economic identity such as individual, company, even government as well as the non-profit organizations. Most of important concept on the neo-productivity emphasizes the invisible readiness for the innovation as specified by NPV and the innovation contribution factor(ICF). The former relates to the KMS and latter to the e-marketing. The neo-productivity is defined as these invisible as well as qualitative characteristics of the productivity under the new era of paradigm shift.

Big firm and entrepreneurs had meaningful contribution to economic achievement in Korea. Though they are somewhat blamable about the practice of political connection, greedy business expansion, still they were efficient in getting economic gain. Big firm and entrepreneurs are respected in many countries, but many peoples in korea have negative sentiment to them. Negative sentiment to big firm and entrepreneur may result in bad corporate image, weakening of economic dynamism. This paper investigates the degree and pattern of negative sentiment to big firm and entrepreneur in Korea, USA and Japan. Empirical survey shows that the anti-big firm & anti entrepreneur sentiment in Korean collegiate is not too high than expected. But they have negative feeling about the succession of business to son/daughter.By way of productivity concept many approaches are possible to lessen the negative sentiment to big firm and entrepreneur. First, company-side input approaches can be the execution of ethical management, redefinition of corporate's goal, empowerment of members and giving the business experience. Second, society-side input approaches can be emphasizing market rule, assisting entrepreneurship, giving multi career path, and positive media stimuli. But to lessen the negative sentiment against big firm and entrepreneur one should build the mutual credit with customer and society.

This study aims to propose a new trade strategy of Korea in the 21st century to be called the total integrated trade strategy. Trade promotion policies have grown to be big and inefficient patched rags. In order to overcome the limits of the current trade promotion system, it is necessary to integrate individual trade strategies to make a compound and efficient total system that is more efficient than sum of individual ones, which is the fundamental concept of total integrated trade. To implement the total integrated trade strategy, this paper suggests to reform existing legal and institutional subsystem to make a 'Comprehensive Trade Act' which would resolve conflicts of separate subsystems. As a stepping stone to realize this final model, communications and cooperations among the officials in charge are urgently needed. Successful fulfillment of total integrated trade strategy would play a key role in achieving another economic miracle in Korea.

The purpose of this study is to investigate the alternatives to SMC's Product Purchasing for enhancing productivity of government Supply. The productivity of Government Agency are consists of cost reduction, on-time delivery, and quality assurance.Data from 847 small and medium firm in Korea analyzed using frequency, t-test and cross tabulation with SPSS For Windows 10.0.The empirical results showed the alternatives to SMC's Product Purchasing could be elaborated to facilitating the competition and improve the productivity of Government Supply. In addition, the results have important theoretical and practical implications.

The purpose of this study is to investigate how dimensions of trust(ability, benevolence, integrity) of employee to manager affect overall trust of employee and overall trust of employee affect marketing performance variables(performance, opportunistic behaviors) in manager-employee relationships. Data from 203 employees(24 responses removed) of Daegu-Kyeungbok people analyzed using Structural Equation Modelling and SPSS/PC statistics package and provided support for our conceptual model.The empirical results showed that dimensions of trust(ability, benevolence, integrity) had a significant influence on overall trust, and overall trust had a significant influence on performance and opportunistic behaviors. In addition, the results have important theoretical and practical implications.

This Research is for finding the ways of improving the effectiveness of Quality Control Circle(QCC). Group Working and QCC are jointly applied in a small work unit and this was called, in this paper, Work Circle. In order to examine the effectiveness of Work Circle, it has been applied to the production line of the small electronic company. Action Research has been adopted to this research as a research methodology. The experiments were implemented during eight weeks, first four weeks was for the existing system and the other was for Work Circle. According to the results, Work Circle has been shown to the pros and cons. Work Circle has proven to increase production rates, reduced WIP level and defect rates, while it has created the conflicts between the supervisors and the leaders of Work Circles. Although Work Circle has the certain weaknesses of human relations on the shop floor, it has the great strong points of productivity improvement. Furthermore, Work Circle has become a control mechanism of QCC indirectly. The conclusion of this experiment was that QCC could improve its productivity by applying it with Group Working method Simultaneous.

Recently, as businesses enter the increasingly competitive world, they are looking for new methods by which they can manage their businesses more efficiently. Manufacturing industries are on the verge of a major paradigm shift. This shift will take us away from mass production, way beyond lean manufacturing, into a world of new intelligent and agile manufacturing. This paper studies recent methodologies of management innovations. It could help Korean industries to have more efficient management system than before. First, an understanding of management innovation is introduced. Second, the methodologies of management innovation are examined, which can be used to improve productivities of industries. Productivities after applying new methodologies are also measured and compared with the results from the conventional methods.

Recent studies on financial constraints have tried to resolve conflicting views on the relationship between investment-cash flow sensitivities and financial constraints. One remarkable research area in such efforts focuses on the influence of uncertainty on the sensitivities.The purpose of this study is to empirically investigate the effects of uncertainty on investments, investment-cash flow sensitivities, and financial constraints. We explicitly distinguish uncertainty on future project value from that on financing. In order to know the validity of differentiating two types of uncertainty. the sample period is grouped into two periods, before and after the Korean financial crisis in 1997. After the financial crisis, uncertainty on external financing has decreased while that on future project value increased. We apply the conventional panel-data model to the sample of 214 listed Korean manufacturing firms in the period 1992-2003. Important empirical findings of this study can be summarized as follows: (1)We find evidence supporting Kaplan and Zingales' notion that large firms show higher sensitivity than small firms. (2) The sensitivity of investment to cash flow is greater for the before-crisis period than for the after-crisis period, which is consistent with our ex ante expectation. (3) For the after-financial crisis sample, the sensitivity is higher for firms with high liquidity, high leverage, and high dividend payout ratio.

Most studies on the relation between stock prices and exchange rates have shown that there exists a positive correlation. But there are conflicting arguments which is a causal variable. This paper applies unit root and cointegration models to investigate the appropriate Granger relations between stock prices and exchange rates using data on the Korean financial market after the liberalization. This study uses 1,666 daily stock index of workdays from May 25, 1998 to May 14, 2005. The time periods of the analysis is divided into three periods according to the trends of exchange rates of Korean won/U.S dollar. This paper used such variables as KOSPI and Korean won/U.S dollar exchange rates to observe a relation between stock prices and exchange rates. The empirical results show that there exists causalities between stock prices and exchange rates. Throughout the whole period, the research finds out that stock prices do cause exchange rates movements, which contradicts the earlier findings about the Korean stock markets. In other words, the relation between stock prices and exchange rates in Korea supports the portfolio approach. This seems to be a result of the liberalization of the Korean financial markets.

The purpose of this paper is to analyze financial productivity characteristics of foreign investor's stock ownership and to compare those with Korean institutional investors in the Korean stock market. By using a dataset during 1999～2003, we are able to characterize the determinant factors of foreign investors and Korean institutional investors. Foreign investors allocate a disproportionately high share of their funds to large firms, high Tobin’s Q, large ROA, low turnover ratio, low capital concentration firms. In other words, foreign investors like high financial productivity firms. But liquidity ratio, leverage ratio, dividend payout ratio, systematic risk, export ratio are not statistically significant. Further, we attempt to investigate the relationship between foreign investors and Korean institutional investors. Both like large firms and low capital concentration firms. Interestingly, Korean institutional investors display different pattern in some variables as compared to foreign investors. Especially, foreign investors pay regard to such factors as ROA, turnover ratio, PER, but Korean institutional investors give consideration to BE/ME factor.

This research develops, and empirically test a model for explaining/predicting the satisfaction of international traders with internet-based e-MP. This paper describes a theoretical model for investigating the service quality satisfaction in e-MP productivity determinants of electronic trade.This research is the first to empirical test the causal relationships in productivity determinants of Trade E-MP site. The model of service quality satisfaction for Trade E-MP are tested here using data from 118 samples.Based on the research model, a comprehensive set of hypotheses is formulated and a methodology for testing them is outlined. some of the hypotheses are tested empirically to demonstrate the applicability of the theoretical model.In examining the relationships of the productivity determinants factors, service quality satisfaction show in significantly by Reliability, Information Provided, Trustworthiness, Convenience, Interaction but that show in not significantly by International of contents. In addition, Trade e-MP site retention shows indirect effect between customer satisfaction and referral.