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As business environment heavily fluctuate, adaptation and changes in organizations are necessary for survival. However, not all organizational changes are reported to be successful. The main reason of failure for organizational change is due to the resistance of employees to change. Thus, focusing on the receptivity to change of employees, we investigated the impacts of organizational justice and trust in management on receptivity to change in the compensation system. Specifically, with the 1,227 employee sample of one large Korean bank which was scheduled to adopt individual pay-for-performance, we investigated the impacts of procedural justice, informative justice, and trust in management on receptivity to individual pay-for-performance. The results of structural equational modeling analysis showed that procedural justice and informative justice had positive effects on the trust in management, and trust in management had a positive effect on receptivity to pay-for-performance. However, informative justice had only a indirect effect on receptivity to pay-for-performance through the trust in management. Limitations and directions of future research are also discussed.

This study is about to empirically investigate the stock prices and volumes effects associated with addition to the SRI index. Using the 89 listed firms in the stock market from 2009 to 2011, the author analyze the stock prices and volumes by an event study. The results are summarized as follows. Firstly, it has come out that the informations on addition to the SRI index can positively affect in the market, but the price rollback has been founded at the next day after the change-day. This results may support the price pressure hypothesis. Secondly, it was observed that the excess volumes of the firms incorporated into the index were the high level in a short term, but these were not lasted on in a long term. Thirdly, the change rates of volume were higher than those of the disclosure days, but not in a long term. Consequently, the author are able to embrace the price pressure hypothesis, and furthermore the liquidity hypothesis can be also adopted because the stock prices rose up and the volumes increased for a short period of time. However the stock prices were not rising up for a long time so that it can be not adopt the downward-sloping demand curve hypothesis and the information hypothesis.

This study analyzes regional shock spillover effects among three far-eastern Asian stock markets in Korea, China, and Japan using the multivariate GARCH-BEKK model to find out the long-term portfolio diversification effects in association of time-varying volatility correlations. Major findings from the estimation results for the impacts among the three stock market returns and their volatilities over the sample period of 4,072 days from January, 1997 to August, 2012 are as follows. Firstly, VIX, the US stock market volatility index as a global risk factor in the mean equation model shows significant negative impacts commonly on all the three stock market returns whereas the currency depreciation in the basis of dollar value as a country-specific risk factor does not show such high significant results. Secondly, Japan's stock market shows significant positive shock spillovers to those of Korea and China in the symmetric model of variance equation, although Korea and China do not show such highly significant strong shock spillovers to Japan. Meanwhile, China is shown to have a significant negative impact on Korea in the volatility transmission process, providing a new possibility for long-term portfolio diversification effect between these two countries. Lastly, the unexpected decrease in the Japanese stock market return in the asymmetric model of variance equation is shown to have the strongest positive impact on their two adjacent countries' market volatilities, supporting the previous estimation result in the symmetric model, whereas bad news shock from Korea to China is found to exist no longer, initiating the shock-smoothing diversification effect between these two countries.

Using 658 samples of office workers and managers from 17 different enterprises, we examined whether psychological empowerment mediated the effects of transformational leadership on followers’ creativity. The results of hierarchical regression analysis show that there is a positive relationship between transformational leadership and employees' creativity. In addition, transformational leadership influences employees' creativity through psychological empowerment. A theoretical implication of this study is that transformational leadership strengthens creativity when it focuses psychological empowerment. Practically, we argue that delegating or resource sharing is only one set of conditions that may empower subordinates. To promote greater feelings of psychological empowerment, managers should (a) set challenging and/or meaningful goals, (b) express high trust in subordinates' competence and (c) promote opportunities for subordinates to participate in decision making.

The main goal of this paper is to investigate the effect of the financial characteristics on default probability of the unlisted SMEs. The sample period covers from January 1, 1999 to December 31, 2007. The sample is divided into three branches, the manufacturing industry, the construction, and retail and wholesale sector. Also in terms of size, i.e. total asset on financial statement, we classify samples into micro firms, small firms, and medium firms. Our main results are summarized as follows. First, most of financial ratios, i.e. growth, profitability, liquidity, stability, efficiency, productivity, are statistically significant. The empirical results by the size and the industry are analogous to the results from the entire data. Growth rate of equity has a significant negative relationship with default probability in manufacturing but is not significant in the construction and wholesale and retail sector. It appears that characteristics of small and medium sized enterprises in manufacturing differ from that in the construction and wholesale and retail sector. Second, the growth rate of equity in construction and wholesale and retail sector is not significant in all of sample groups by the size and industry. The growth rate of equity in the manufacturing sector mainly has a significant effect on default probability with the unlisted SMEs. Third, the classification accuracy(area under the receiver operating characteristics : AUROC) of the default probability model for training dataset is 70.5～78.6% while that for validation dataset is 67.0～69.6%. In all dataset AUROC are near about 70%. This implies that the models used in the analysis are adequate to predict default of SMEs.

There is increasing concern with how employees' career management is associated with its outcome at both individual and organizational levels. Previous research has mainly focused on determinants of career outcome and career commitment, however, empirical investigation on the structural relationship among career planing, career satisfaction and career commitment, and their consequences on organization has been limited. Based on 319survey data from employees in R&D department of Korean large manufacturing firms, we examine the relationships among career planing, career satisfaction, career commitment and organizational commitment. The main findings of the study are as follows: first, we found that career planning was positively associated with career satisfaction and career commitment. Second, our empirical analysis also shows that both career satisfaction and career commitment have positive effects on organizational commitment. Finally, both career satisfaction and career commitment were positively mediating the relationship between career planning and organizational commitment. This study provides an useful implication that improvement of individual career management can contributes to better organizational performance.

Data Envelopment Analysis (DEA) is a non-parametric method widely used for efficiency assessment of units having similar characteristics. However, DEA method has several different models and the result of each model is usually different making the choice of the specific model difficult in assessing the efficiency of units. One way of overcoming this difficulty is to combine the different DEA models into an integrated one with each model being weighted according to some weighing method. In this regard, we use Shannon's Entorpy measure to combine the DEA models in such a way that all the efficiency results calculated from each model are considered in the integrated model to rank the units. For the study, the top 20 container ports in the world are compared for efficiency based on the traditional DEA method and the proposed method with Entropy.

This paper analyzes a relationship between the life-long learning system in the firm-level and the long-term productivity. Introduction of the life-long learning system into the firm is found to raise the long-term productivity of the firm. To address the issue of the effect of eduction- training investment on the long-term productivity, this paper estimates total factor productivity of the firms using case studies. The empirical results imply that introduction of the life-long learning system into the firm affects the long-term productivity of the firm positively. It tends to raise total factor productivity of the firms, per capita value added and even technical efficiency of the firms.

his study employs an Social Accounting Matrix (SAM) analysis to examine the effects of renewable energy industry on the national economy. The study, therefore, has two major goals. The first is to develop a static SAM framework for examining the effects of renewable energy industry in the short run. The second is to obtain at least a preliminary indication of the effects of the renewable energy industry on Korean economy. The overall results indicate that a significant influence on the industrial production and the household income in Korea.

This paper analyzes the effects of oil price change on the value of exports of Korea. The general convention is that the effect of oil price raise is leading to reducing the exports. The change in oil price is related to the change of production costs as well as changes in macroeconomic indices, such as price level and interest rate. Those changes in production costs and macroeconomic indices may affect the performance of exports. However, we found that the oil price increase is not necessarily reducing the exports based on Korean industrial exports data. Rather, in our analysis, the rise of oil price lowers the real interest rate and thus the increase in oil price leads to an increase in the value of Korean exports. It is also found that oil price affects the export directly and indirectly through the real interest rate.

As motor cars have been changed to the machines that soaked with electronics, a lot of sudden unintended acceleration incidents(SUA) occurs. SUAs bring lawsuits because they usually cause the driver and/or others into serious death and/or injury. Plaintiffs insist the root of the incidents is electronics of cars. But examiners rule out the possibility and automakers insist the root is driver’s pedal misapplication. In this paper, we surveyed views on SUA, such as ‘bad drivers’ and ‘bad cars’. And we analyse SUAs happened in USA, especially the reports written by NHTSA, NASA and the investigation report on the Saylor’s Toyota Lexus runaway incident. We suggest some possible objections on the results of the investigations. By the analysis results we think about the attitude that designers should have.

The purpose of this study is to develop an evaluation model of Government Financial Support Program for the Safety and Healthcare Cooperation. To achieve the purpose of this research, extensive review of existing studies and expert consultations are conducted for selecting the key evaluation criteria. Based on surveys of various experts, a hierarchical model is constructed and the weights of the components are derived using the AHP(Analytic Hierarchy Process) approach. This model has 2 evaluation phases, 3 evaluation areas, and 15 evaluation items. The contributions of this study are not only to be useful as a practical guideline in evaluating the Safety and Healthcare Cooperation Program but also to provide a theoretical framework of evaluation and management method of the Safety and Healthcare Cooperation Program.

As there is a wide spread and rapid development of smartphones, the number of smartphone application is dramatically increasing. The transformation from wired to wireless Internet to mobile Internet environment leads to the important roles played by smart phone applications. Thus, the study aims to develop and propose the quality assessment model that is appropriate to smartphone applications, which is distinguishable from general purpose software assessment and examines the difference in perception on the quality factors between developers and user groups. The model consists of five external characteristics and the corresponding fifteen internal attributes that contribute to the evaluation of complicated elements included in smartphone applications. The authors applied the Analytic Hierarchy Process(AHP) method among multiple decision making methods and thus improved the reliability by assessing the subjective characteristics of related elements in an objective manner in order to evaluate the quality factors of developer groups, and tested the research hypothesis based upon the Technology Acceptance Model(TAM) in order to examine the impact of smartphone quality factors on the user group’s willingness to use consistently. The study revealed that the perception on the degree of importance of the quality factor was different among departments even within developer groups, and there was a significant difference in the perception on quality factor between developers and users. Through such processes, it was found that the planners had the most similar perception on the quality factor of smartphone application to the users concerned. In addition, it was found that the maximization of functionality, usability, and mobility led to the satisfaction of both users and developers while fulfilling the efficiency and security in order for the survival of applications, which leads to the development of high quality smartphone applications.

This paper addressed issue of the cluster policy in small and medium sized enterprises (SMEs)’ productivity growth in Colombia. In general, SMEs in developing countries have traditionally been treated as socially desirable as a strategy for job creation and better quality of life, but their capabilities have often been questioned. However, the Colombian government launched a Strategic Plan and the Productive Transformation Programme (PTP) aims at identifying emerging high value added industries and then enhancing their productivity through cluster-based policy. From the cluster-based approach, it is clear that there are two types of business support programmes. On the one hand, innovation and technological investment could enhance the productivity levels of global competitiveness and increase the share of world export level. On the other hand, it is crucial for creating jobs and enhancing quality of life in Colombia. Hence, we argue that viewing ‘quality of life’ as an important element of cluster-based policy is the key to the much sought after combination of sustainable development

The Korean defence industry has made great effort to improve quality of technologies since late 1990s. This effort, however, is not regarded as being sufficient in particular for securing the core technologies in the high-tech weapon system. This paper examines TFP growth of the Korean defence industry, and finds its determinants mainly in terms of technical mobility in patents during the period 2000-2011. Empirical results indicate the following. First, the annual average TFP growth in the Korean defence industry is 6% and technical progress is the main contributor to the growth of TFP, indicating that the Korean defence industry has transformed into a innovative industry from a catching-up industry. Second, the effect of cumulated patents is positive on technical progress and TFP growth. Third, technical mobility of firms and inventors have negative and positive effects on TFP growth, respectively. These empirical results are applied to making policy implications for the sustainable and innovative growth of the Korean defence industry.

Recently, strategic alliance has become important for improving outcomes in high technology industries. This study tried to address the influence of alliance uncertainty, portfolio characteristics and absorptive capacity on strategic alliance performance in pharmaceutical industry. Prior researches also investigated strategic alliance but they were restricted to limited cases and subjects, conceptual framework and exploratory design. From thorough literature review, more comprehensive research model and measurements than previous works were established. Based on alliances samples formed by pharmaceutical firms from 2003 to 2010, this study suggested a significant link between alliance uncertainty, portfolio characteristics, absorptive capacity and alliance performance in pharmaceutical business. It was also able to reveal the most powerful explanatory factor toward alliance outcome and propose favorable types of strategic networks to practitioners from the findings. From insights of this study, further study using complementary primary data incorporating managerial features in alliance could be a great step forward. Additional research based on more integrated and balanced measurements for qualitative aspects like alliance maintenance, optimization, integration, trust and coordination to assess managing issue after deal execution can also provide us meaningful contributions. By doing that, it is expected to draw more compelling factors to explain alliance dynamics for both academic and practical views.

In accordance with the increase in the national income and leisure time, the market expansion of the coffee shops are becoming. This study, utilizing Maslow's needs categories, measured the satisfaction of each brand and also evaluated the impact of marketing mix as a result of their activities to consumers to provide products, services, and contextual quality. The study found completely contradictory results in the satisfaction to meet the needs for coffee shops between consumers seeking hedonic and utilitarian shopping value. The study also found that needs for respect influenced service quality while physiological needs affect product quality. And fulfilling safety needs influenced positively contextual quality whereas meeting belonging needs influenced negatively. Finally, product quality gave positive influence on service quality but had no direct impact on contextual quality. Only service quality had positive impact on contextual quality. This study utilizing Maslow vertical category, made an attempt to provide implications for practitioners who are responsible for developing brand and franchise stores by analyzing customers's store choice determinants and store satisfaction.

This study is focusing on the extension of CSR concept in the dimension of public service, based on the concept of social service which is recently the issue for the respect of policy as well as society. Many studies have developed the CSR in the fields of business management and social science previously, and they have been focused on corporations for profits. So, the purpose of this study is to suggest the new concept, which is the service for social value, extended from the CSR concept in the dimension of public service for non-profit fields. This is differentiated from the previous studies in term of approaching methods. This study has initiated the measurement items about the service for social value even though the concept has not been established yet. Types of the construct were divided into public role behaviors and social contribution activities, based on the field research. They are the ethical service, philanthropic service, and relationship service. It could be evaluated that this study has contributed to the extension of CSR studies in the field of public dimension, not in the dimension of business corporations.

The Cannon’s cell production system is recognized as a typical success case of the innovation activities in the manufacturing industry, but it is not relatively well-known than TPS(Toyota Production System) and less than that in the performance of systematic study. Therefore, we need to provide information that is beneficial to the related research activities as well as the production fields through the continuous, systematical, and thoughtful study in the future. In this study, Canon’s cell production system is analyzed with the following three questions based on this background. First, why did Canon want to innovate the existing production system? Second, how did Canon’s innovation progress in successful development process of cell production system? Third, what human resource development system was introduced to develop the workers' ability? Results of the analysis, we can draw the following conclusions. The cell production system of Canon become established successfully by the strong commitment and momentum of Fujio Mitarai, president and Chief Executive Officer, but it was based on the mindset reform and the autonomical ability development of field workers in application of the new production system. Such workers’ adaptability to new production system obtained by the support of human resource development programs such as the cell production methods, and the meister and super meister program. The implications in this study, First, the innovation’s obstacles will inevitably occur due to the resistance of the workers and the unexpected events in the way it is carried out. The success and the headway of innovation will be determined whether to overcome such innovation’s obstacles and to ways of overcoming. Second, when we faced with innovation’s obstacles, we must find the presence of a pilot team, that is said to ‘Goddess of Salvation’ in Canon's Nagahama factory. We must to overcome the obstacles on ways of using the pilot team as the driving force of the self innovation.