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The purposes of this paper is to analyze the usefulness of productivity indicators in corporate financial distress prediction using the sample of Korean manufacturing firms which failed during the period of 2000～2004. This study focuses on productivity indicators, since previous studies mainly examined various financial ratios which belong to profitability, liquidity, and financial structure and interest paying ability of firms as failure predictors. The main empirical results can be summarized as follows. First, the productivity indicators such as value added to sales, value added to total asssets, value added per employee, and current income per employee show significant differences in averages between failed and normal firms. Second, the correlation analysis between the dummy variable denoting failure status and productivity indicators show significant negative correlation as expected. Third, in the univariate logit analysis to predict corporate failure one year later, the model developed by each of productivity indicators predicts corporate failure correctly by 74.1～79.0%. Fourth, the performance of combined logit model including financial ratios and productivity indicators show improved predictive accuracy compared to the model including financial ratios only. What this paper contributes may be the examination of productivity indicators in the corporate financial distress prediction. Still, the test of various productivity indicators remains for further studies.

By a variety of accounts, the number and scope of interorganizational collaborations have grown rapidly in many industries, especially in the large assembly industries such as shipbuilding, automobile, machine. Despite the emphasis on developing cooperative subcontracting relationships, many relationships between powerful contractor and upstream subcontractors are still adversarial. Many scholars argues that developing relationship commitment can have positive consequences for the participants in the interfirm relationships. But in the world of practice, the application of relationship commitment to the substantial subcontracting networks have many limitations.This study proposed knowledge－sharing routine as mediator for interfirm relationships in addition to relationship commitment. Empirical results shows that knowledge－sharing routine as mediator has increased relationship performance in the subcontracting networks. Therefore, the introduction of formal knowledge－sharing routine in the subcontracting networks has important role in the construction of collaborative network for creation of key knowldege asset.

We explore whether R&D and marketing expenditures during economic crisis could generate a comparative advantage that allow firms to earn abnormal profits. Using OLS regression analysis the results suggest no stock market returns to R&D and marketing expenditures except for one year period. The study also showed that marketing expenditures had negative impact on ROS. R&D expenditure had positive impact on stock market return only in 1998, which means although R&D expenditure could not generate a comparative advantage it functioned as a signal that the company has a good cash flow.

The main objective of this thesis was to empirically study the primary factors that influence on the performance of new product by domestic small and medium enterprises. Five primary factors were identified from the past studies. They are project leadership, project process, project strategy, innovation culture and government support. In addition, transaction-specific assets and the asymmetry of information and the speed of new product development were included as the moderating variables between the performance of new products and primary factors. The performance were measured success against competitors and the degree to which a sales objective had been achieved. The study was conducted on 207 enterprises which operate in the category of manufacturing businesses. The major finding of empirical study can be summarized in two points. First, when the success against competitors was the performance variable, the factors of ‘project leadership’ and ‘project process’ were significant while the achievement of sales objective was performance variables, the factors of ‘innovation culture’ became significant. Secondly, ‘asymmetry of information’ and ‘the development speed of new product’ were moderating variables. The contributions of this thesis are that the primary factors determining the success of new products by domestic small and medium manufacturers were empirically analyzed while the asymmetry of information and the development speed of new product were found to moderate the performance of new product.

Based on data from a survey sample of consumer in Korea and China, the objectives of this study are to model the way for develop and maintain loyalty, to test the hypotheses derived from the model, thereby identify the antecedents of loyalty, and to test differences using locations. The results of regression analysis show that trust and commitment are predictors of loyalty, commitment is affected by trust and satisfaction, satisfaction is affected by trust. And the results of comparative analysis between Korea and China consumer are a difference in location. Although the two countries have the same oriental culture this finding means that the marketing strategy of Korea and China must change. Namely, it emphasizes a trust and loyalty in Korea and satisfaction and commitment in China.

The purpose of this study is to examine the implementation result of ERP system by productivity index. To accomplish this purpose, We studied the relevant literatures and precedent researches and collected the data for 45 listed companies. T－test, correlation and regression analysis was adopted to analyze the data. Analysis result of this research can be summarized by some. First, it shows difference that is not significant in human capital efficiency coefficient between before and after of introduction of ERP system. Second, it shows significant difference in structural capital efficiency coefficient between before and after of introduction of ERP system. Third, it shows significant difference in capital employed efficiency coefficient between before and after of introduction of ERP system. Introduction of ERP system expresses significant difference as statistical even if brought definite productivity index changes between before and after of introduction. But when it is compared to before and after, introduction of ERP system generally display the result of something wrong. However, it exists with incidental that appear that is statistical difference of opposite direction unlike other variable from part item.

Derivatives Market in Korea dates back to 1996 when KOSPI200 was launched as the first domestic derivative. Despite its short history, the derivatives market in Korea is now proud of the largest trading volume in the world thanks to the growing awareness on risk management after the Asian financial crisis. The margin requiring system is the most important and unique feature of futures market. And margin is sometimes used as a government policy tool of controlling the market activity. This article focuses on the fact that the change of the margin requirement which took place on 1997/7, 1997/11, 2000/2, 2001/2, 2003/3 have actually increased or decreased the volume of futures market. The following is a summary of the results of this study. First, increasing the margin requirement has reduced the volume of futures market and decreasing the margin requirement has nearly expanded the volume of futures market by graphic method. Second, the margin requirement changes always don't effect the volume of futures market significantly using intervention analysis.

We categorize quality management practices as two factors; ‘Infra factor’ and ‘Process factor.’ We confirm the factors’ statistical significance with empirical investigation about 125 manufacturing companies in Seoul and Kyongi area. Moreover, we find the two factors influences positively on manufacturing performance as costdown, improving new products, shortening of R&D activities. We prove these results with empirical method of structural equation model and AMOS program.

Nineteen years passed since wage bargaining between labor and management became social issue since the Korean government’s June 29th Democratization Degree in 1987. Until now not only the wage level is higher compared to productivity but also wage payment system is not modernized, causing the erosion of international competitiveness, That is until present labor market is not functioning as the changes in production market. Thus both quantity(employment) and price(wage) adjustment are not functioning properly in the Korean labor market. Accordingly the adjustment is mainly relied on changes in overtime, however even the overtime adjustment faced difficulty as the legal hours of working reduced to 40 hours per week due to the changes in the labor law. One of the most serious problem in the process of wage bargaining is that both labor and management depended upon the figures from the economic forecasting. Furthermore, it is observed that wage increase is faster than labor productivity increase. In order to resolve the problem it is suggested in the wage bargaining labor and management use a conservative forecasting and in the year-end they could adjust by paying bonus, such as both Japan and Singapore experienced since latter half of 1980s. Korea is urged to implement a wage reform in an effort to realize reasonable and more scientific wage bargaining can be realized.

Productivity of product development process is very important to competitiveness of companies. Product development literature presents two counter approaches of developing products to meet customers’ needs. One approach to develop products to meet customers’ needs is to let customers transfer the information about what they need to manufacturers voluntarily through virtual community. This study aims to explore the reason why customers participate in product development process ‘voluntarily’ through virtual communities. In this study, we investigate why customers participate in product development process voluntarily in virtual communities. Based on confirmatory measurement model, we show that product attribute information and consumer experience information have statistically significant effects on customer participation through self-efficacy in virtual communities. And we suggest some implications to the marketing researcher and managers by discovering knowledge about how to improve customer participation in product development process.