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In 2001 April, first of all, Korean power generating sector was separated from Korea Electric Power Corporation (KEPCO) by the plan of reform in electricity industry. Transmission and distribution(T&D) electric sector plan to be separated and privatized by this plan. However previous studies haven’t try to measure economies of scale of Korean T&D electric sector. This study uses not only translog cost function that generally used for estimating economies of scale but also fourier flexible functional form which can potentially approximate any function well over the entire range of data. The results suggest that Korean T&D electric sector is still in the range of economies of scale.

Leaders, these days, should control works and duty of subordinates who work at other time and other places in the world. A leader can communicate with subordinates, thanks to electronic media such as the internet and a video conference which were made in alternative development of information technology. Manz & Sims suggested that the super-leadership system is more suitable for the horizontally diversified structure than any other leadership systems. Indeed, the super-leadership is an alternative leadership theory. In this alternative leadership theory, as there are many alternative factors, the effect of a leader on subordinates' attitude and performance is decreased. As a result, it means that a good leadership is not characteristics or charisma of a leader but the leadership which can complement the existing group's structure and compensation system that subordinates need. It is the super-leadership theory that provides contingency theory and transformational leadership to give a motivation to subordinates who would like to be a self-leader and make them control themselves, based on this alternative leadership theory. In addition,LMX theory reflects characteristics of this super-leadership, well. Not focusing on just characteristics or behaviors of a leader but emphasizing relational characteristics among a leader and group members is the important factor to raise the quality of LMX. As self-leadership which is self-centeredly progressed by members increases, the quality of LMX also increases. The increased LMX's quality becomes a parameter, so it increases the job satisfaction and organizational commitment. As a result, it increases the desire remained and overall performance both individually and on group.

In this paper, we examine the impact of strategic investment choices of Korean initial public offering firms made at the time of going public on likelihood of post‐IPO failure. Our sample, identified from the KisValue, consists of non‐financial Korean IPOs issued during the period 1990‐2007. We conduct Cox Proportional Hazard models to assess the extent that variables associated with strategic investment choices of issuing firms influence the timing and occurrence of post‐issue failure. The Cox regression procedure is a combination of the hazard model and the maximum partial likelihood estimation procedure. The results from our survival analysis suggest that managerial commitment to capital expenditure enhances the ability of IPO issuing firms to remain viable for longer periods of time.

Increasing global competition, expending customer expectations are creating turbulent environment. Flexibility is a mechanism that enables firms to cope with this increasing uncertainty because it facilitates a QR(Quick Response)this research organize literature on flexibility and according to competence and capability theory. It describes a framework to explore the relationship among flexibility competence, flexibility capability, and performance. It develops vaild and reliable instruments to measure the sub-dimensions of flexibility, and it applies structure equation modeling. the result indicate strong, positive, and direct relationships between flexibility competence, flexibility capability, and competency

To select the best Third-Party Logistics(TPL) transportation suppliers(companies) it is essential to make a trade off between quantitative and qualitative factors. When many constraints exist, choosing the companies becomes more complicated. In this paper an integration of an analytical hierarchy process and multicriteria goal programming is proposed to consider both quantitative and qualitative factors in choosing the best transportation companies within constrained environment. First, through the previous studies, we derive important factors and priorities by applying Analytic Hierarchy Process(AHP). Then, along with the results obtained by AHP, to choose the best transportation companies we establish multicriteria Goal Programming(GP) model considering fixed, total and transportation cost,rate of damaged goods and rate of delayed goods as major criteria. We also derive optimal quantities of goods transported from each selected transportation company to destinations based upon the proposed method.

This paper estimates the potential willingness to pay for HSDPA service using a conjoint analysis. The study improves the conventional multinomial logit model with an alternative specific constant which considers effects of reducing variables in the model and reflects changes in non-users' preference in mobile service. The WTP for each attributes in HSDPA service is approximately 5,685 won for improving high quality multimedia service, 3,393 won for improving mobile service quality, and 3,110 won for increasing transmission speed, respectively. This study gives policy-makers and HSDPA providers quantitative information on the HSDPA policy as well as a potential price scheme based upon consumers' utility.

This paper examines the investor sentiment and market timing of stock repurchases using 370 samples of Kosdaq market stock repurchase announcements between 2000 and 2007. We employ the framework of Baker and Wurgler (2006) to measure the investor sentiment on stock market. Results of event study are consistent with the previous empirical findings. The cumulative abnormal returns (CARs) using the market model and market-adjusted model between -3 and +3 of the event date are both statistically significant, averaging around 3%. However, the average of twelve-months abnormal returns (CARs and BHARs) are negative that is inconsistent with the underreaction hypothesis of Ikenberry et al.(1995). Our empirical findings are as follows. First, we can find that stock repurchases are more likely to be announced by firms in which investor sentiment is cold. Second, more negative sentiment leads to higher long-term abnormal returns. Also, we find that firms with higher sensitivity to sentiment are tend to have higher long-term abnormal returns after the repurchase announcements. This implies the existence of market timing of repurchasing firms. We found that investor sentiment is important factor for firms to decide stock repurchases,especially for firms with higher sensitivity to sentiment.

This paper research the contents about finding imbalance elements among a serialoperations based on 4M (Man, Machine, Method, Material), developing solutions or methods for solving the found waste elements, verifying the developed methods to improve productivity of a manufacturing line. This serial process is executed by using 3D simulation model or digital factory reflecting the real manufacturing line. Therefore, the above serial process is called a practical technology of intelligent digital factory. In this paper, as a case study, we show an applied example of the practical technology of intelligent digital factory in a farm machine (such as tractor, combine) manufacturing line. we found various problems in the manufacturing line, developed solutions for the found problems, and then verified the developed solutions or methods by using the practical technology of intelligent digital factory. At the ending of this paper, the test shows the efficiency of the various developed methods for improving productivity.

The objective of this paper is to investigate the effects of internal marketing on internal customer satisfaction and organizational commitment, and the effects of internal customer satisfaction and organizational commitment on business efficiency in non-profit organization. The empirical results of this paper are as follow. First, all factors of internal marketing affect positively internal customer satisfaction. However, working conditions and reward system does not affect positively organizational commitment. Second, internal customer satisfaction has a positive effect on organizational commitment and business efficiency. Third, affective commitment and continuous commitment do not have a positive effect on business efficiency. Therefore, in consideration of characteristics in public servants'organization, managers should enhance internal marketing which can have a positive effect on business efficiency.

The purpose of this study is to examine the relationship between trade and labor productivity. We focused on the export and import portion's effect on labor productivity. In analyzing the relationship between two variables, the preceding research used firm level data, which means that it estimated only the volume effect and not the industrial effects. In studying industrial effect, we can derive implications about governmental policy. Furthermore, we can determine the difference between service and non-service industry using the multi-level model. It is very important because the service industry will gain much more attentions with time. Our research results show that the export and import portion has a positive effect on labor productivity, and there is no statically significant difference between service and non-service industry.