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Research trend on specific subject can be identified by bibliometric analysis for the representative journal on that subject. Even though abundant bibliometric analysis has been conducted for the diverse subjects in Social Sciences, the subject of productivity has not been performed by bibliometric analysis yet. This research was conducted to examine research trends on productivity by bibliometric analysis of Productivity Review, the representative journal on productivity in Korea, published by Korean Productivity Association. Total of 843 papers published in Productivity Review from the first issue in March, 1987 to those in December, 2012 have been analysed for (1) author types, (2) research methods, (3) levels of analysis, (4) research industries. Research results are as follows; First, most authors were from domestic universities, and the participation of practitioners and international researchers were very limited. Second, the major research methods on productivity in Economics and Business Administration were the quantitative analysis and the survey respectively. This research is comprehensive and first bibliometric analysis, and is expected to be the ground research for the future research.

The article examines the structural relationships between technology characteristics, technology commercialization performance and firm’s performance, focusing firms acquisited technologies from Government-funded Research Institutes in Daedeok Innopolis. In particular, this article attempts to analyze technology commercialization performance that may be influenced by technology excellence, market growth and favorable situation where the technologies introduced is suitable to firm’s environment. The development of the research model is based on the literature of the empirical studies of technology commercialization, technology commercialization performance and technology valuation. The survey of 102 firms that introduced the technologies are conducted from January 2, 2014 through January 15, 2014. We investigate the role of technology excellence, market growth and favorable context in determining the technology commercialization performance by performing Partial Least Squares (PLS) analysis. The results of the study show that technology excellence, market growth, and favorable context of technology achieve a higher level of firm’s technology commercialization performance, indicating which the null hypothesis that each coefficient is zero can be rejected at the 1% or 5% level of significance. We also examine the question of how firm’s technology commercialization performance affects its performance, financial and strategic aspects. The test results support the logic that firm’s technology commercialization performance is a driving force behind the financial and strategic performances. Overall, the results from the empirical study suggest that firm’s technology commercialization performance is directly affected by the three factors, such as technology excellence, market growth and favorable context where the introduced technology is suitable for firm’s various conditions, which makes the firm be competitive by enhancing its financial and strategic performances.

In this study, We measured the elasticity of substitution between labor and ICT capital input by estimating transcendental logarithmic (Translog) cost function which takes GDP, wage rate, prices of ICT and NICT capital as factors of cost function. Data was constructed as unbalanced panel data set using 26 industries of 6 countries (South Korea, the United States, the United Kingdom, Germany, Japan, Italy) for the period of 1970-2007. Cost function and share equations that were induced by Shephard’s lemma from it were estimated simultaneously using seemingly unrelated regression method (SUR). Conditions for homotheticity and homogeneity were imposed to the estimation procedure of cost function and were tested its validity by Wald test. Constant returns to scale (CRTS) restriction was not imposed because of the necessity of estimating the effect of scale economy which means cost down effect of output growth. We found a negative relationship (negative substitutability) between labor and ICT capital usage as a factor input. It means that deepening of ICT capital using would be a crowing-out of the labor force in the production process. These findings mean that job creation would be a difficult target for Park regime in South Korea even though it pursue the creative economy ambitiously. We also estimated the contribution rate of ICT capital to the GDP growth. We found that the use of ICT capital led to the improvement of productivity and economic growth as a whole. Compared with other advanced countries, Korea’s contribution rate of ICT capital to the GDP growth was lower than other countries. It means that ICT investment could be a good policy measure of strength of the potentiality of the whole economy in the present regime. One possibility for both of job creation and productivity growth is to use scale economy coming from massive investment of ICT capital in the creative economy. Another implication can be found in the relatively high negative substitutability of labor and ICT capital usage in the service sector. The development of service industry was suggested for the job creation in these days. But the intensive use of ICT would have two effects, one is about more active substitution of labor in the service industry compare to the manufacturing sector. Another is about job creation effect associated with the growth of the service industry. Policy combinations for minimizing labor substitution and maximizing productivity enhancement by use of ICT may be helpful for job creation.

One of the features of capitalism in economy is the presence of fluctuations. This happens for many reasons. For our country, in particular, the recent proliferation of information and communications technology shortens the period of fluctuation phenomena phase of economic downturn on the horizon. Schumpeter points out, that appearance and development of innovative industries will experience its own boom state - yet, over time, eventually the industries are going to overproduce, and this will cause them to go into depression. And Perez suggests a mechanism - that during changes in technology, financial capital will encourage such changes - and will contribute to creation and destruction of financial bubble, which will cause the business cycle to radically change. Based on these arguments, analysis has been made on relationship between the business cycle and R&D activities, using Granger Causality methodology. Previous study showed that changes in GDP has relation regarding Granger Cause towards the change of total R&D expenditure, when R&D expenditure was applied as a price index. However, after applied knowledge depreciation rate to R&D expenditure change and analyzing the relationship between GDP change and R&D expenditure, it showed that R&D expenditure also has relation regarding Granger Cause towards changes in GDP as well. As a result of this analysis, constructions of an meticulous administrative-supervision structure an Early Warning System for financial market of R&D Funds should be take into account.

It is known that there is severe asymmetric information between SMEs and banks, and they have faced lower credit availability and higher average prices of bank loans than large firms. To improve the productivity and efficiency of financial institutions, it is necessary to collect and to share the credit information to reduce the asymmetric information. A number of previous research show that sharing credit information alleviates the information asymmetry, and consequently it can increase productivity of bank with lower loan price and enhanced loan availability. In this study, we empirically test to find out whether the relative payment period, which is a payment period adjusted by a firm’s internal and external factors, improves a default prediction model especially for the SMEs. The relative payment period is estimated by the regression of two accounting payment periods - account payables and receivables converson period - on firm’s size, industry, and increasing rate of sales. Firms with long relative payment period are identfied on the basis of 95% prediction interval of the regression. After that, this information is added to a default prediction model with other financial ratios, and we examine that it could enhance the model. To avoid the influence of outliers, all variables are transformed into a normal score based on the order statistics theory. Our empirical results show that the relative payment period has an additional information power to predict default, and especially, it is more useful information for small-sized firms than lager ones. These results indicate that trade payment information is useful to predict future default of SMEs. This study suggests that it is important to build up infra-structure to share SME’s credit information to improve productivity of financial institutions. Also, the financial supervisory should consider a system to collect and to share actual trade payment information to innovate Korean SMEs financial market.

We analyzed the effects of increases of accounting comparability on foreign equity investment after mandatory adoption of K-IFRS. We also examined changes in foreign investments in the domestic securities market. The De Franco et al.(2011) model was used to measure the comparability. Analyses of the compatibility were made separately on both the amount of shares and the ratio of foreign investment. We examined corporations who have recently adopted K-IFRS, and analyzed separately from the corporations which have already been using K-IFRS since 2009. Result shows that adopting K-IFRS increase corporations’ accounting comparability, and this increase induced a positive effect on foreign investments. In fact during the 6-year survey period accounting comparability and foreign investment were at the peak in 2009, and this clearly shows a correlation between K-IFRS and the increase of accounting comparability. This result supports our hypothesis and leads to a conclusion that objective of K-IFRS implementation in Korea has been achieved. Accounting comparability has increased, which in turn attracted foreign investment. Two things should be noteworthy of interpretation of results. First, it has been only 3 years after the implementation of K-IFRS, and therefore the number of research sample was not sufficient. Second, the model we utilized can have a fundamental limitation. As De Franco et al.(2011) themselves mentioned, use of a simple comparison between profits as a measurement of comparability is questionable. Nevertheless DeFond et al.(2011) claim that this same model is reliable for interpretation of financial analysis.

As there has been a growing interest and concern on a subject of employee leisure time in a Korean Society, an employee’s labor hour, which is closely associated with employee leisure time, has been known to enhance the employee’s perceived quality and satisfaction of his or her work and general life. This study investigated the direct and interactive effects of various organizational determinants on employee labor hour in the context of franchise industry. Specifically, drawing on the multi-foci social exchange theory which suggests that an individual could form varied quality of exchange relationships with different parties, we examined how a franchiser’s trustworthiness, laissez-faire leadership of a supervising employee visiting from a franchiser to a franchisee, the quality of a franchisee’s exchange relationship with other franchisees would directly and interactively affect a franchisee owner’s labor hour. For the present research, we surveyed 195 franchisee owners in restaurant, retailing, and service industries and conducted hierarchical regression analyses. As expected, a franchisee owner was found to work less when he or she perceived higher trustworthiness from a franchiser. In contrast, a franchisee owner was found to work more when a supervising employee more demonstrated laissez-faire leadership. Especially, as a franchisee owner develop a higher-quality exchange relationship with other franchisee owners, i.e., co-franchisee exchange increased, the extent to which a supervising employee’s laissez-faire leadership increased a franchisee owner’s labor hour was found to be more intensified. Considering the positive outcomes that result from an employee’s reduced labor hour for the quality and satisfaction of his or her work and life experience, the result of this study suggests that a franchiser would need to help a franchisee owner perceive trustworthiness from his or her franchiser. In addition, it was also suggested that a franchiser would need to train and develop his or her employee to gain appropriate styles of leadership which are required to effectively supervise a franchisee owner. A Franchiser’s these efforts would be especially necessary when franchisee owners develop good exchange relationships with each other.

This study empirically examines the moderating effect of first-line managers’ HR role between high-involvement work system and innovation performances because there are little concerns about the moderating effects of first-line managers‘ HR role amid a wide variety of literature focuses on the relationship between HRM practices and innovation. Hypotheses of this study are as follows. H1: High-involvement work system is positively associated with innovation performance. H2: The more first-line managers‘ HR role is, the stronger the positive association between the high-involvement work system and innovation performance will be. To examine the hypotheses of this study, we use the data of “Survey on labor department’s role and competency” conducted by KLI(Korea Labor Institute) in 2008. The sample is 283 firms. The statistical results of this study shows that high-involvement work system positively associates with innovation performance as shown in previous studies, and moreover first-line managers’ HR role can intensify the positive effect of high-involvement work practices on innovation performances. This gives a significant implication that HR department should fully support line managers’ HR role so that they can accomplish their HR tasks in relation with high-involvement work practices and innovation performances successfully.

Internal branding has risen as new task which is a vital question of the company recently by recognizing full integration with the branding through all divisions and its operations for their continuous growth and profit. In relation to this, to build the strong brand positioning (in terms of customer royalty, market share and price premium) and to secure competitive advantages, it can be achieved to communicate brand promise to customers and other stake holders by the employees who have high brand commitment and customer orientation. This study is to verify the causal relation and its influences between the three major components of internal branding activity, which are brand based HR activity, internal brand communication, brand based leadership, and brand commitment and customer orientation for the organizational members in the domestic financial service companies(banks and the credit card companies) based on the conceptual model for the internal brand management. Looking into the result of empirical analysis in the study, it shows that internal branding activities of the financial service companies affect the brand commitment of the employee positively, organizational member’s higher brand commitment increases customer orientation. The influence of customer orientation by internal branding activities is intermediated by the degree of the brand commitment. But the degree of influence for the customer orientation increased by the organizational members’s brand commitment is not different from the types of business between banks and credit companies. This study contributes that internal branding activities of the financial service companies affect the increase of the brand commitment positively for the organizational members. It has been confirmed that internal brand communication, one of three components of internal branding activities suggested in this study affects the most. Secondly, in terms of the basic infrastructure for the internal branding in the financial service companies, there is strong need of formulation for the brand mission and role of the employee and need of complement for the evaluation and compensation system for accomplishing the brand value. Thirdly, to realize high customer orientation by strong brand commitment through the employee in the financial service companies, it needs a large set of tools from different functions in the firm, for example, HR, internal communication, leadership, as well as contextual factors such as corporate culture and structure fit, incentives structure. further the more, requires long term commitment and continuous, institutionalized efforts.

This paper provides specific implementation solutions for quality improvement in products and services of coffee shops through a case study. SERVQUAL is adopted and modified for this study to identify customer requirements for services of coffee shops. Quality Function Deployment (QFD) is introduced with a house of quality approach to reflect customer requirements in products and services. The house of quality approach involves a pair of houses of quality in this paper, beginning with engineering characteristics for product and services. This study finally draws specific implementation solutions based on the engineering characteristics by using a pair of houses of quality.

With the development of world economy, greenhouse gases (GHG) emissions occurring due to human activities causes the earths temperature rising and brings out the climate change. The global warming has brought a series of problems, such as environmental degradation, natural disasters frequent occurrence, which has become a hot spot in the world. Under this situation, companies should change their value orientation and behavior. In order to obtain the long-term development, they must set up the goal and measures of environmental management. The purpose of this study is to grasp the environmental management situation of Chinese textile industry enterprise through analyzing the factors influencing enterprise environmental management. This study also analyses the relationship between environment management with the enterprise achievement. The environmental management data of 152 textile industry SMEs in Jiangsu province were collected by survey. Through the Heckman model analysis, the results indicates that enterprise’ environmental management significantly increases the profits and manager’s environmental sense, environmental regulations, public communities influence enterprises whether to choose environmental management.

Research results, the prediction was recorded in 2015 to 149 trillion won (U.S. $ 1,250 billion), the market will grow by an average annual growth rate of 11% in the future. On the other hand, domestic spatial information market size is estimated at 3 trillion won (U.S. $ 25 billion) by 2010, and global market share is estimated at 8. Despite the rapid growth of the world space market size from 2006 to 2010, the domestic space, the largest overseas supplier of information to only 1,480 billion future more aggressive overseas expansion of the intellectual construction are evaluated. Given an FTA with the spatial information industry market situation, which is open infinite Korea supplier of gaining an edge in overseas markets, rather than developed countries of spatial information company domestic market will shrink gradually when needed. From this perspective, the present study of 04 due to the FTA overseas new opportunities in the geospatial industry, if you can arrange an empirical analysis. Also showed significant (+) effect on gravity model analyzing the results, the country signed a FTA with countries GDP growth rate of bilateral trade in the service of In addition, the closer the distance between the two countries, and increasing services trade, service trade volume to decrease (-) effects greater distances show. In particular, the service more responsive to national income than the partner’s income to deflect domestic market (home market effect) showed the largest exporter.

This paper empirically explores the links between innovation and economic performance using firm level data based on Korean 2011 CIS(Community Innovation Survey) data created by the STEPI. To examine the effects of various modes of innovation in services on firm performance, the paper controls for endogeneity of the innovation, using Probit-LS two stage Predictor Substitution procedure. In the first stage, the probit model for each innovation variable is estimated by MLE using instrument variables such as lagged sale and worker variables, Then in the second stage, the firm’s productivity model include the predicted values of the innovaton variable obtained from the probit model as an explanatory variable. The empirical results summarized as follows. First, the exogeneity is found to be rejected not only for technological innovation such as service product innovation and process innovation but also non-technological innovation such as organization and marketing innovation. These findings provide, just like in manufacturing sectors, empirical support for endogenous nature of innovation and the process of market selection in services. Thus, productivity and innovation, either technological or non-technological innovation can act as a self-reinforcing mechanism, which further boosts firm performance. Better performing firms in services are more likely to innovate and devote more their resources to innovation. Second, the empirical result shows that not only innovation is important dimension of firms’behavior but also that it is able to explain part of firms’economic performance. The results show that innovating firm outperform non-innovating firms in terms of both production and productivity levels. Third, firm size is positively associated with firm performance. Larger firms in service sectors are expected to have more production and higher productivity. Fourth, the null hypothesis that all industrial dummy variables should not affect either production or productivity can be statistically rejected for all cases. This means that sectoral difference should be considered in estimation of production and productivity. Also listed companies have higher productivity than non-listed companies in service sectors. Finally firm performance in services does not only depend on the simple service innovation but also the types of innovation activity performed as well as the amount of financial resources devoted to innovation. Overall, this paper provides empirical support on the increasing importance of innovation as enhancing factor for competitive in services as well as a crucial determinant of both production and productivity performance.

This paper considers how general-purpose technologies developed by government has effects on the rate of economic growth in terms of the endogenous growth theory model. This model has two kinds of technologies including general-purpose technologies affecting generally all industries and specific-purpose technologies utilized to a limited particular industry. Thus, general-purpose technologies refer to techniques which bring out the fundamental changes on the traditional economic and social structures. The main results are as follows: first, if the core technique of general-purpose technologies has high complementarity with the specific technologies and high spillover effects, it is more favorable to long-term economic growth for government directly to invest and manage the core techniques of general-purpose technologies. In addition, the general-purpose technologies are much better to be invested and controlled by government if the specific– purpose technologies need relatively high development costs. Second, in cases that the core technique of general-purpose technologies has lower complementarity and spillover effects on the specific technologies, the private sector has to invest and develop the specific-purpose technologies in order to get the higher rate of economic growth compared with the government controlled development of technology. Ruttan(2006) insists that government investment is essential elements to develop general-purpose technologies that require investment of huge scale for long-term periods. This paper proves the conditions on which the direct development and management of general-purpose technologies controlled by government is much favorable to economic growth. Of course, you should also consider the inefficiency of the management of the government, but the inefficiency of government management is not large so, this result can be a result of consistent well with reality.