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Venture Capital(VC) is the capital pursuing the high-risk and high-return. The traditional role of venture capital is to provide capital for VC-backed firms' growth. However, above this role, VC could help VC-backed firms as mentor that supporting consulting services such as strategy management and technology management In this paper, we conducted a study on impact assessment of venture capital investment. To implement this, we analyzed growth, innovation, and total factor productivity of VC-backed firms. To avoid selection bias problem, which occurs frequently in impact assessment, the Propensity Score Matching methodology was used. The result shows that venture capital investment has a positive effect on VC-backed firms' growth and innovative capability, but negative on total factor productivity. This result implicates that venture capital's function as mentor don't work properly.

Interest in corporate sustainability continues to rise in a response to the increasing demands from firm’s stakeholders for environmental, social, and economic responsibilities. Although many researchers have attempted to identify factors affecting corporate sustainability and investigate how to improve it, few research has been done to study on the implementation of sustainability in the technology management (TM) and its impact on TM performance. Thus, this research has explored the sustainability issues associated with the processes of technology management, and examined the impacts of sustainability considerations in the corporate and TM strategies on the TM performance through an empirical study using data collected from Korean electronics manufacturing firms. From a path analysis, it is found that a corporate sustainability management strategy influences the TM strategy, and in turn the TM strategy with sustainability perspectives requires TM activities to comply with sustainability requirements. Consequently, the performance of TM is positively affected by implementing sustainability management at the TM level.

This paper examines the effect of electricity market reforms on the efficiency performance of the Korean electricity industry. By using survey data, due to the limited availability of firm-level data, this paper evaluates the efficiency impact of reform by using the fuzzy set theory that reflects the policy uncertainty of the Korean electricity sector. In particular, this theory is used to construct a precise metric of the importance of each indicator based on a survey of industry participants and scholars; the theory helps construct a relative weight of the importance of such indicators by permitting the conversion of uncertain subjective evaluations into practicable measurements. We then use the relative importance of each indicator resulting from this exercise to construct a weighted sum of an efficiency index for the post reform years of 2001-2008. We normalize the index so that the 2001 value is 1 and find that the value of the index has generally risen over the years to reach a value of 1.04 to 1.05 by the end of the study period. The overall results show that generation cost is the most important factor in efficiency-related decision-making processes and that efficiency values for the whole period tended to increase.

The purpose of this study is to investigate the relationship among market orientation, company image, and business performance of small manufacturing enterprises in Korea. The results show that information dissemination and information responsiveness of market orientation positively affect company image except information generation. Information dissemination positively affects business performance except information generation and information responsiveness. However, information responsiveness indirectly affects business performance. Company image positively affects business performance. The moderating effects of Inno-Biz firms between market orientation and business performance are not significant. Therefore, it is identified that the role of market orientation is very important to enhance company image and business performance of small manufacturing enterprises. For this, managers should make efforts to build effective market orientation as organizational culture to improve innovativeness, company image, and business performance.

The purpose of this study is to test relation of credit rating and earnings management. The firms have the incentive to make credit rating better with earnings management. But, if earnings management is considered in credit rating, earnings management will negatively be related with credit rating. This study used credit rating for firms instead of credit rating for issuing a debt and considered discretionary accruals as a means of earnings management. Test period is from 2002 to 2010. Samples are 3,612 year-firms from public, manufacturing firms. The empirical results showed that there was a negative relation between discretionary accruals and credit rating level. This means that though the firms have the incentive to improve credit rating through earnings management, earnings management have an negative effect on credit rating. Also, there was a negative relation between discretionary accruals and credit rating change. This means that earnings management have an negative effect on credit rating change. The empirical results imply that the firms manage earnings with discretionary accruals for the purpose of improving credit rating, but that credit rating negatively reflect the incentive.

This study focuses on using collective intelligence to develop the consulting service support process in the smart environments. We developed the concept after studying the theoretical literature and suggested the direction. this study developed according to the roadmap of the new product development process, DIDOV(Define-Identify- Design-Optimize-Verify) in DFSS (Design For Six Sigma). It was carried out in accordance with the procedures to draw out the needs of the customers through experts FGI, to establish service concept and business model and to verify the reliability of the new service with case study. Empirical Study compared smart AHP survey(smart AHP based on smartwork) with existing survey AHP. Therefore, this study is expected to contribute to SMEs consulting industry development and the SMEs received the benefit form the consulting service.

It has been much emphasized the concept of productivity during the manufacturing industry society. However, the concept and core competence of productivity has changed in service industry. Service oriented organizations use customers to focus their business strategies and continually try to enhance the service productivity focusing on the customer orientation. The purpose of this article is to provide whether the specific components of person-environment(organization) fit on the customer orientation through the job satisfaction. The authors aim to base the research framework of person-organization fit on the evidence from the literature review and try to identify the mediator role of job satisfaction on the relationship between person-organization fit and customer orientation. An extensive literature review of the extant conceptualizations and operationalizations of person-organization fit is carried out. Then the proposed research model has been empirically tested with samples of hospital employees. The findings of this study suggest that person-supervisor fit is only predictor that influences on the job satisfaction and perceived customer orientations. Furthermore, partial mediator effect on the relationship between person-supervisor fit on the customer orientation has been empirically identified. From this research there is person-supervisor fit among the three types of person-environment(organization) that predict the job satisfaction and perceived customer orientations. Finally some implications are included.

This Paper proposes and demonstrates the usefulness of a new conceptualization of IT outsourcing performance under total outsourcing. IT outsourcing continues to be a topic of great concern to IS professionals and senior management and Service quality is argued to be a crucial success factor for IT outsourcing, but yet there is not an empirically validated research for measuring IT outsourcing service quality. Therefore this paper aims to develop and test a model for measuring IT outsourcing performance focused on service quality and individual task impact. The research sample was designed from two companies in total outsourcing. 170 usable responses were received. The results are that tangible, reliability and responsiveness are influence individual task impact than any of the service quality dimensions. Also information quality, system quality, use satisfaction are influence individual task impact.

This research analyzes empirically the structural relationship among business environments, competitive strategies, and business performances of manufacturing SMEs and venture businesses. The business environment is constructed with industry environment and resource and capability. Four generic competitive strategies such as focus, cost leadership, technology innovation, and market differentiation are adopted. Business performances are composed of technical, market, and financial performance. The results of this empirical study indicate as follows; The industry environment doesn't significantly affect the type of competitive strategy. It is interpreted mainly due to such characteristics of the sample as product life cycle and longevity. The resource & capability factor affects all of the competitive strategies with the exception of focus strategy. Each type of competitive strategies affects more than one of the types of business performances. Technology performance contributes to market performance, and market performance also devotes to financial performance. The standardized path coefficients of the variables are measured to check mediate effects among the factors.

We examine the long-run financial performances of stock returns, operating performance, and Tobin’s Q before and after firms’ capital investments in Korea. This paper reports that companies exhibit no significant relation between capital investments and subsequent financial performance not only for the whole sample but also for the sub-sample classified by firm’s motives of the capital investments. These empirical results are not consistent with existing evidence found in the United States (Titman, Wei and Xie 2004; Cooper, Gulen and Schill 2008) but consistent with the evidence found in the Japan (Titman, Wei and Xie 2009). Therefore, this paper appears to suggest that cross-country differences in political, economical, financial, and cultural factors play a crucial role in explaining the variation of financial performance.

That has increased more than 50 self-employed than other populous baby boom generation ages, the self-employed after retirement from the second to find a job. This study has surveyed the senior entrepreneur who start-up business. The data have been collected by questioning 510 persons. This study using reliability test, factor analysis and cluster analysis. Mixture model was conducted to segment individuals into three groups based on their demographic variable, entrepreneurship and start-up characteristics. Results of cluster analysis, preliminary senior entrepreneurs depending on their individual capacity and resources will differ in entrepreneurship, and hope there are different industries. Current preliminary indiscriminate targeting entrepreneurs financial assistance and educational support is an issue, and needs identified through screening a foundation tailored support is required.

Functional initiation at a auto production factory became difficult by progress of globalizing, such as overseas relocation of a production site, and the increase in temporary workers. Corresponding to various employment system and for successful globalizing, standardization of work is efficient and conversion to the manufacturing system based on technique is more efficient than a skill. Knowledge-skill has been thought as important at the auto production spot in Japan. Changing of outer environments, such as progress of globalizing and an increase in temporary workers, is surely a factor which makes difficult formation of the knowledge-skill which needs long-term employment. According to a case of the NPW(Nissan Production Way) which is called for the synchronized manufacturing system, however, considering that the management to the on-site workers from whom multi-skilled labors become importance is thorough, it can be estimated that it is a manufacturing system as which much knowledge-skill is required. Also while outer environments, such as progress of globalizing and an increase in temporary workers, change, it comes to a conclusion in a production site for knowledge-skill to consider the constantly important role as accumulation of a function. However, It is thought that the temporary workers by changing of a life style will increase more from now on, and, under the environment of short-term employment, it has been a subject whether what we do with functional initiation.

Nowadays, technological innovation enables small and medium-sized enterprises(SMEs) to gain and sustain competitive advantage for long-term survival and growth. With this perspective in mind, the study investigates the relationship between competitive strategy and technological innovation for SMEs and the effect of market orientation on this relationship. Results show that product differentiation strategy has a positive relationship with product innovation, while low-cost strategy has no significant relationship with process innovation. Results also reveal that market orientation moderates the relationship between low-cost strategy and process innovation, but not the relationship between product differentiation and product innovation. These empirical outcomes help us to understand the relationship between competitive strategy, market orientation, and technological innovation. Based on these results, the study presents some important conclusions and implications for SMEs.

This study is intended to identify the influence of family-friendly management on the job satisfaction of female workers at a company on the basis of ‘Korean Longitudinal Survey of Women & Families’ done by Korea Women’s Development Institute. According to the results, the companies were hardly aware of the current status of family-friendly and maternity protection policy and implementation rate. The result of interrelation analysis showed that vacation supporting policy turned out to be most related to the degree of job satisfaction of women. In addition, family-friendly management was shown to be positively related to the vacation supporting and maternity protection policies and the degree of job satisfaction of women. As to the analysis of control effect, it has been verified that family-friendly management based on marriage status had some control effect on the vacation supporting policy by influencing the degree of job satisfaction. According to the analysis on whether companies implemented, Most of the companies turned out not to be providing nor implementing policies related to family-friendly management.

This study investigates the current status of corporate social responsibility (CSR) management adoption as well as implementation of Small and Medium-sized Enterprises (SMEs) in Korea. First, we categorized listed firms on KOSPI into the medium-sized firms, small-sized firms, and others which include the large firms, firms belong to the large conglomerates, holding companies, and financial service firms. With the categorized firm samples, we compare both the environmental, social and governance (ESG) score and practices of three company groups. As a result, large firms have at large better ESG scores and performance than SMEs performance scores. However, in the areas of the convenience in exercising the shareholders rights and the dividend in the corporate governance, there is no statistically significant difference between large firms and SMEs. Thus, the conventional proposition size matters in CSR management adoption and implementation' is empirically examined and accepted in the Korean industry context. Further, we examine ESG performance employing the acceptance ratio which can explain how many measures follow the hypothesis to understand the overall similarity between company groups. This study finds that the acceptance ratio in comparing the ESG performance between large firms and SMEs is in minimum 67% in the environmental management and in maximum 89% in the corporate governance. In addition, in comparing between medium-sized and small firms, the ratio records in maximum 67% in the socially responsible management and in minimum 33% in the environmental management.

On the assumption that exploratory learning is difficult to be applied at corporate governance, this study investigates how the exploration on corporate governance relates the firm performance. Previous studies suggest CEO　succession and other transformation of corporate governance as a way to overcome organization inertia and purse exploration of March (1991). This study investigates the performance of the 100 large Korean firms from 1997 to 2007 by capturing CEO, board and TMT succession. In addition, this study investigates the interaction effects of performance by associating complementary board succession and supplementary TMT succession with CEO　succession. Our empirical result shows that CEO　and board succession relate to positive firm performance, but TMT succession does not relate to firm performance. And only the interaction effect of CEO　 and board succession relates positively to firm performance. By approaching organization learning on corporate governance, this study could suggest the guideline for pursuing exploration learning in corporate governance.

In the twenty-first century, Trade level in Korea has fallen short of national logistics level despite of achieving 1 trillion dollar by high trade growth. Such means to have variety intrinsic problems in the domestic logistics industry when compared with the Western countries to be proportional between trade and logistics level. These problems can be solved as the development of logistics performance index for the way of advancing the domestic logistics industry. Accordingly, this study for the development of logistics performance indicate to select factors, drawing priority of factors as a cornerstone of long-term research for measuring logistics performance of domestic logistics companies and industry. To achieve this, factors about logistic s performance deduct by literature research in the domestic and foreign theses and priority of factors are calculated through the Fuzzy Analytic Hierarchy(Fuzzy-AHP). The result value by Fuzzy-AHP will be used for feedback and decision making in the whole logistics industry.

This study try to examine how affect to Trust, Satisfaction, Repurchase intention by Logistic Service Quality(LSQ). For that, I conducted survey from 4th May, 2010 to 7th June, 2012. The dates of 332 surveys were used for analysis. At results are followed by: Firstly, Delivery Quality, Order Quality, Customer Service in LSQ(except for Delivery Price, Logistic Information) are positively effect to Trust. Secondly, 3 factors(Delivery Quality, Order Quality, Delivery Price) in LSQ have positively affect to Satisfaction. Thirdly, All of them, Trust & Satisfaction, make positively effect to Repurchase intention.

Recently, due to the various factors of competition, the company's production and sales activities are gradually separated. Through the globalization of customers and buyer, many companies to supply some products for certain areas in the world are fully engaged in sales activities. There are many companies with specific production and management skills in various areas. For product management & sales, managerial competence has been more strongly emphasized on the customer satisfaction. The purpose of this study is to present the company's pre-evaluation criteria to select and operate production oriented companies among the small, medium and large scale companies. We suggest a reasonable evaluation criteria for the selection of the EMS company by comparative study of several criteria that are utilized in field.

Korea adopted International Financial Reporting Standards(hereafter “IFRS”) to provide higher quality of accounting information. We examine the effect of earnings management with mandatory IFRS adoption in Korea on accounting transparency by means of the analyses of various accruals. Also, We assesse value relevance of changes of net assets and net income by comparing the effects on capital stock valuation before and after mandatory IFRS adoption. We examine the differences of earnings management with mandatory IFRS adoption. We find that several discretionary accruals decrease after mandatory IFRS adoption. This result indicates that IFRS provides high-quality accounting information. By the way, we can't find the evidence of the difference of earnings management based on real activities. Secondly, for the period after IFRS adoption we find net income and changes of net income are less relevant to capital stock valuation. This result suggests that value relevance of net income and changes of net income decreases after IFRS adoption. Possible explanations to these findings are that market reacts to signals about noise of earnings quality, or adjustment of stock price follows as found in previous studies.