Earticle

This paper analyzed the efficiency of local financial operation from the perspectives of creative city for 7 metropolitan cities. This paper applies DEA analysis to determine the efficiency of the districts of Busan metropolitan city over time for 3 years (2006-2008). This paper used such factors including number of government employees and expenditure as inputs, culture-based index, city park area and sport facility capacity as outputs. The results of analysis were as follows. First, Seoul and Ulsan were proved to be most efficient, while Busan appeared to be most inefficient in total efficiency points. Second, operational and scale efficiency of metropolitan cities increases over time but Busan still remained in a stagnant state largely due to scale inefficiency. As the results of these analyses, we suggest the means of evaluation and supervision for the local public finance operation. The detail indicator should be developed on the basis of the five standards: the revision of administrative districts, the improvement scheme in legal and institutional system, the participation of local community, and the organization of evaluation team.

This study investigates the technical, allocative, and overall advertising efficiencies for 14 Korean pharmaceutical firms using panel data from 2007 to 2009 by employing DEA window analysis. There are four inputs : TV advertising expense, Radio advertising expense, newspaper advertising expense, magazine advertising expense. One output includes sales. This paper relates the use of aggregate advertising cost data to the estimation of allocative efficiency when the price information about the inputs is not available. The results show that the overall, technical, and allocative efficiencies are 27.71%, 73.14%, and 35.89% respectively. We find that the main source of inefficiency is allocative rather than technical. In addition, this study implies that Korean pharmaceutical firms had not fully realigned their advertising expenses in response to a changing advertising market.

The purpose of this study is to examine the factors influencing performance of social entrepreneurship, organizational culture and network activity in the social enterprise. This model tests various theoretical research hypotheses relating to social enterprise, social entrepreneurship, organizational culture and network activity. Questionnaires have been collected during one month 2010 and a total of one hundred one has been considered valid. Smart PLS(Partial Least Square) 2.0 and SPSS 15.0 have been utilized for deriving the study results. The results of hypothesis testing are as follows. First, social entrepreneurship positively influence managerial performance, social performance and network activity(social network, market network, financial network). Second, organizational culture positively influence managerial performance, social performance and network activity(social network, market network). Third, social network positively influence managerial performance and social performance and financial network positively influence managerial performances. Finally, financial network activity has a moderating effect on the relationship between social entrepreneurship and managerial performance.

The purpose of this study is to investigate the relationship among store image, charity image, customer orientation, customer satisfaction, and customer loyalty in a non-profit store and to provide the implications of marketing strategies to improve its management performance for survival and sustainable growth. The results of data analysis show that store image, charity image, and customer orientation affect positively customer satisfaction and customer loyalty in a non-profit store. Also, customer satisfaction affects positively customer loyalty. The implications mean that a non-profit store can survive and grow through providing high quality of products and customer service and building positive store image and charity image which lead to higher customer satisfaction and loyalty as like profit organization does. The result also propose NPOs to develop marketing communication strategies to promote NPOs' roles such as social warfare, recycling of resources, consideration of the poverty.

The purpose of this study was to examine the effects of the consumers' cognitive and emotional responses to the firm's compensation program on the recovery of the consumers' behavioral responses. This research suggested that the types of the product were divided into low involvement(such as family restaurant case) and high involvement(such as laptop computer case). Also, the types of the firm's compensation program were divided into practical compensation such as gift voucher and hedonic compensation such as free musical ticket. This research conducted an experiment employed a 2(product : low involvement vs. high involvement) × 2(compensation program : practical vs. hedonic) between-subjects design. The results show that the hedonic compensation has influence more than the practical compensation on the recovery of the consumers' cognitive, emotional and behavioral responses for low involvement product. But the practical compensation has influence more than the hedonic compensation on the recovery of the consumers' cognitive, emotional and behavioral responses for high involvement product. This imply that the sunk cost effects on high involvement goods has influence more than low involvement goods in the losing situation. And then these are appeared to risk aversion when the consumer estimates the firm's compensation. Therefore, this suggests that the consumer prefers the safe and certain benefit such as the practical compensation.

We investigate how to use service innovation such as smartphone based banking to increase the productivity of bank. Recently, the number of smartphone users exceeds ten million in Korea and smartphone has already impacted the service process of service industry. Thus, it is critical to use smartphone based banking effectively to increase productivity of bank. We modify five success factors such as relative advantage, compatibility, complexity, trialability, and observability of Rogers in the context of smartphone based banking. These are important factors to affect the innovation adoption of smartphone based banking. It is also found important to find the group of heavy users of internet, who eventually move to use smartphone based banking.

The proposed design method minimizes bias, i.e., an average time to signal for the shift of process from the target value (ATS) curve, as well as it applies a VSI method to an attribute control chart for detecting a process shift efficiently. The results of the factorial experiment obtained by various parameter circumstances show that the VSI  control chart using nearly unbiased ATS design provides the smallest decreasing rate in ATS among other charts for all experimental cases. We present an optimization model that may efficiently provide optimal ATS values for process parameters in a steady state, and that may efficiently establish parameter correct control chart by supplying an optimization algorithm.

In Korea, the government has instituted support programs to promote firms' growth in the material and component industrial sector. The objective of this study was to perform an empirical analysis of the additional effects of government support for growth in employment in the intermediate goods industry. We analyzed the growth of firms' employment, and methodologically, we adopted a propensity score matching estimator to deal with the selectivity issue. The results show that the R&D support program showed statistically significant effects on employment growth of beneficiary firms. Especially, the effects prolonged for 4 years after the support. Annually, the difference of employment growth rate between supported and unsupported firms increased as 9%, 21%, 22% and 23%, as years passed. This result partly implies that not only the direct impact from the program, but also the indirect impacts as growth in firm potential and capacities are affecting positively to firms' growth in employment.

This study seeks to advance the customer relationship perspective by examining the role of managing customer relationship in accelerating organizational learning and innovation capability in the commercial banks. Building on the literature of transaction and relationship marketing, we propose that information or knowledge derived from customers increases the likelihood that banks enhance their organization learning and facilitate innovations. Using 141 questionnaires from the commercial banks in Korea, this study confirms that relationship orientation of a commercial bank is directly related to learning and innovation capability. It also presents the mediating effect of learning capability in the casual effect between relationship orientation and innovation capability. We believe that this research is a timely response to a call for the study of interactive effects among customer relationship, organizational learning, and innovativeness.

This study is family businesses and non-family companies about the impact on business performance were demonstrated. The characteristics of this study, Family succession were excluded from the data selected. The reason than blood relationship company participation in management or ownership, because ownership is important. And family firm that combines the cross-sectional data and time series data by using panel data to theory models are empirically. The empirical results are as follows. First, family firm and non-family firm had different business performant. Second, firm size and advertising ratio is family firm is higher than non-family firm, were statistically significant. Sales growth is higher for non-family firms, Statistically significant negative relationship was demonstrated. Especially, Age is have a positive impact on business performance that was not statistically significant than expected. Third, there was significant relationship between Performance variable is Family firm were higher than non-family firm.

This study pays attention to entrepreneurial networking, which is recently being emphasized by studies about entrepreneurship as an alternative to overcome inherent limitations and increase probability of success and survival of SMEs. In particular, SMEs hybrid business exchange accompanies networking which facilitates access to, and use of external resources and information that are crucial to survival of enterprises, which in turn makes it an effective alternative increasing the possibility of survival and success. Hereupon, this study considered the relationship between networking and performance of enterprises implementing hybrid business exchange. The result showed that first, networking of hybrid business exchange implementing enterprises affected their performance meaningfully and in strong direct proportion. Second, networking of hybrid business exchange implementing enterprises had more positive effects on performance of growing enterprises than on those of start-up enterprises. Third, weak ties were more important to performance of hybrid business exchange implementing enterprises than strong ties. Fourth, as of network scope, bigger scopes of network were more positive to performance than smaller scopes. Fifth, on frequency of contact, it was found that less frequent contacts were more positive to performance than high frequency of contacts. Lastly, trust on the network's root was found to affect the performance meaningfully and in strong direct proportion. Since this study provides an empirical analysis of performance of hybrid business exchange implementing enterprises based on network theory, the result herein is significant in that it corresponds to the stream of times of fusion and complexity, analyzes networking of hybrid business exchange implementing enterprises by subdividing it into segments such as years of industry, nature of ties, scope, frequency and trust for the first time domestically, and in that it provides practical information about optimality of networking to entrepreneurs who seek ways and solutions through hybrid business exchange.

The Purposes of this study are 1) to examine the relationship between employee's emotional intelligence and organizational effectiveness(job satisfaction & organizational citizenship behavior: OCB) and 2) to explore the effect of moderating effect of job interdependence. To obtain data for a practical analysis, 415 copies of questionnaires were distributed among employees for four weeks at 21 firms. The number of questionnaire that were really used for the analysis is 338 copies with valid response rate of 81.4%. The findings of hypothesis tests can be summed up as follows. First, the analysis shows that self emotional appraisal, regulation of emotion and use of emotion among various types of an employee's emotional intelligence make positive effects on job satisfaction. Second, the analysis shows that all among various types of an employee's emotional intelligence make positive effects on OCB. Third, the analysis shows that job interdependence has moderating effects on the relationship among regulation of emotion, use of emotion and job satisfaction. Finally, the analysis shows that job interdependence has moderating effects on the relationship between self emotional appraisal and OCB.

There has been a long-standing interest of developed countries as well as developing countries in the effectiveness and efficiency of government export promotion activities and their role in generating economic growth and jobs. This paper empirically examines effects of export promotion on employment over the period 2005-2008 for Korean listed and non-listed manufacturing firms. The paper employs the panel model of labor demand and controls for simultaneity of the exports and real wages using a two step Tobit-GLS procedure. Our empirical findings are as follows. First we find some evidence for employment effects of export promotion programs to small-medium sized enterprises (SMEs) during the sample period after Korean financial crisis. This suggests that expansion of export promotion programs for SMEs can have positive effects on employment in Korea. Second, both company age and R&D expenditure per worker are positively associated with an increase in employment of SMEs. This implies that such factors could be used as criteria of selecting subsidized firms, which may enhance the employment effect of export promotion programs.

This study analyzed the usability of economic value added(EVA) as a company performance indicator by utilizing non-financial data of the stock market from 2000 to 2009. We investigated whether EVA provides useful information for MVA, which represents company performance from the executive's position, and for the average rate of return and excessive abnormal return, which represent performance from the investor's position. Analyses showed that EVA's explanation power for MVA is higher than other accounting performance indicators such as FCF, ROA and ROE, which revealed the fact that it is more valuable as a company performance indicator. Also, portfolios with positive EVA showed higher average rate of return and excessive abnormal return, which are performance indicators from the investor's position, than portfolios with negative EVA. During the analysis period, the rate of return and cumulative abnormal return(CAR) of portfolios with continuously positive EVA were higher. Therefore, it is judged that EVA provides useful information for MVA, the rate of return and CAR.

This paper provides an alternative explanation for asset sales. I take as my starting point that selling assets could be viewed as the sale of securities to the firm. This paper reports that firms selling assets during the period 1990~2007 substantially perform worse than their matching firms. I document that long-run, post-sale underperformance is similar to intial public offerings and seasoned securities offerings. This empirical evidence is consistent with the windows of opportunity hypothesis which implies that managers take advantage of selling overvalued assets. I also find that there is no difference in the long-run abnormal stock returns among three types of reason for the asset sale. This paper concludes that the underperformance problem is not just an security offering phenomenon but a more general sale effect.

The purpose of this study is to verify the effects of assets component and capital structure on management performance for financial consulting through 562 small and medium sized enterprises.(manufacturing industries 272, non manufacturing industries 290) The results of empirical analysis are as follows. First of all, the relevances of assets component and management performance are as follows. The first, the non current assets ratio have a positive effect on gross profit on sale with level of significance 1% in total and non manufacturing industries. The second, the non current assets ratio have no effect on net profit on sale in total, manufacturing and non manufacturing industries. The last, the non current assets ratio have no effect on gross profit on assets in total, manufacturing and non manufacturing industries. The next, the relevances of capital structure and management performance are as follows. The first, the debt ratio have no effect on gross profit on sale in total, manufacturing and non manufacturing industries. The second, the debt ratio have a negative effect on net profit on sale with level of significance 5% in total industries. The last, the debt ratio have a negative effect on net profit on sale with level of significance 1% in non manufacturing industriestotal industries.