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논문검색은 역시 페이퍼서치

한일경상논집검색

The Korean-Japanese Journal of Economics & Management Studies


  • - 주제 : 사회과학분야 > 경영학
  • - 성격 : 학술지
  • - 간기: 계간
  • - 국내 등재 : KCI 등재
  • - 해외 등재 : -
  • - ISSN : 1226-3877
  • - 간행물명 변경 사항 :
논문제목
수록 범위 : 51권 0호 (2011)

일본 주식시장의 유동성 동행화에 관한 연구

류두진 ( Doo Jin Ryu )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 3-32 ( 총 30 pages)
7,000
초록보기
Although previous market microstructure research has traditionally investigated individual assets, the present study focuses on commonality in liquidity for the Japanese stock market. Using intraday TAQ (Trade and Quote) data from the Tokyo Stock Exchange (TSE) for the period 1999 to 2005, we construct nine daily liquidity measures and analyze the phenomenon of "commonality in liquidity" for each measure. The empirical results indicate that liquidity co-movements are more likely in the Japanese stock market than the U.S. stock market, where designated market makers exist. In addition, the results of an analysis by firm size suggest that commonality in liquidity is weaker for large firms than for small firms, which is inconsistent with the empirical findings of Chordia et al.(2000), who examine the commonality in liquidity for the New York Stock Exchange (NYSE). This may be attributed in part to differences in the market structure between Japan, an order-driven market, and the U.S., a quote-driven (or hybrid) market.

M&A 이후의 기업지배구조 및 기업가치 변화

심현금 ( Hyun Keum ) , 남기석 ( Gi Seok Nam )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 33-65 ( 총 33 pages)
7,300
키워드보기
초록보기
This paper studied the post M&A changes of corporate governance and firm value. Companies are able to enhance their corporate value by improving their corporate governance. For this purpose M&A can be measures of enhancing corporate value. This study investigates how corporate governance and value change after M&A. The result of this study is as follows. First, the overall impact of M&A on the corporate governance was not so great but post M&A public disclosure and Audit score has risen. This result means the improvement of board management and audit structure after M&A. Second, Long term effect of performance was estimated by Market-Model, CAPM, and Fama-French three factor model. In consequence abnormal return does not change uniformly and is not significant. But only positive CAAR change is significant under 5% significance level. Third, this study also investigated changes of financial variable before and after M&A. Assets and total assets turnover are shown to increase for the increasing group of CG score while does only assets for the falling group of CG score. Finally, this study shows that corporate governance and value are positively associated with firm value. This means that the improvement of board of directors and audit organization ultimately leads to post M&A increase of firm vlaue.

한국 제조기업의 규모 및 업력과 성장의 관계에 관한 실증적 연구

신동령 ( Dong Ryung Shin )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 67-92 ( 총 26 pages)
6,600
초록보기
This study examines empirically the relationship between firm size, age, other firm characteristics and growth using the 2,760 samples of Korean listed manufacturing companies for the periods of 2000 to 2009. The main result can be summarized as follows. First, firm size is positively and age is negatively related to growth, so Gibrat`s hypothesis is rejected, but Jovanomic hypothesis is accepted. Second, when other firm characteristics such as cash flow, capital expenditure, and R&D investment are included in the regression model, the explanatory power of firm size and age are slightly weakened. Third, capital expenditure and cash flow show important positive relationship with firm growth as expected. Fourth, contrary to expectations, R&D investment and largest shareholder`s ownership do not have signigicant relationship with firm growth in multiple regression model. These empirical results provide some implications such as policies of supporting venture firms establishment, easing the financial constraints, and enlivening capital expenditure and R&D investment are very critical for Korean firms` strong growth.

아시아 Hub국제공항 고객만족에 영향을 주는 품질요인 분석 -국제공항 시스템 품질, 정보품질을 중심으로-

이정현 ( Jung Hyun Lee ) , 장대성 ( Dae Sung Chang ) , 김민수 ( Min Su Kim )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 93-123 ( 총 31 pages)
7,100
초록보기
The Purpose of this research was to investigate how the quality of the hub international airport`s systems and the quality of the airport`s information influence the satisfaction of the customers of the international Hub airports. Mother purpose was to find out which of these two quality factors plays greater or lesser roles in influencing the customers of the airport by examining the causal relationship between customer satisfaction and two quality factors mentioned above. The results of this study shows that the airport systems` quality influenced positively the satisfaction of the hub international airports` customers but the airport information quality did not influence.

한국전력에서의 임금제도의 역사적 전개와 특징(1961-1996년) -직능급제도의 도입을 중심으로-

김삼수 ( Sam Soo Kim )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 125-154 ( 총 30 pages)
7,000
초록보기
The purpose of this paper is to study the development process of pay system in the Korean Electric Power Company(KEPCO) and its characteristics, focusing on the introduction of Japanese style Job Competence Pay System(JCPS: Shokuno-kyu)`. As Japanese style wage systems have had great influences on the changes and innovations of personnel management system in Korea, case study of KEPCO is very helpful to identify the characteristics and the prospect of Korean personnel administration and wage system from the comparative perspective. This paper investigates the introduction background and characteristics of the Japanese style JCPS in KEPCO, focusing on the maladjustments of American style job based pay system.

부서동일시, 회사동일시, 조직몰입, 직무만족 간의 구조관계에 관한 연구: 건설산업을 중심으로

박승배 ( Seung Bae Park ) , 이동수 ( Dong Soo Lee ) , 김삼수 ( Sam Soo Kim )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 155-186 ( 총 32 pages)
7,200
초록보기
This study aims to examine the mediating effects of organization identification in the relationship between job satisfaction and organizational commitment of professional construction engineers. Especially, organization identification is categorized into two different types: company identification and division identification. In addition, it examined separately the effects of two distinct divisions: design division and construction supervision division. Survey data for empirical study were collected from 296 employees, mostly engineers. There are some significant different effects according to the types of division. In construction supervision division, satisfaction of relationships with superiors and satisfaction of relationships with colleagues have significantly positive effects on division identification, while there is no such effect in design division. Company identification has significantly positive effects on organizational commitment in construction supervision, company identification has significantly positive effect on organizational commitment, while there is no such effect in design division.

한국의 재래시장에서 번영회장 리더십이 상인들의 혁신행동에 미치는 영향

이수원 ( Soo Won Lee ) , 이우원 ( Woo Won Lee ) , 김중화 ( Joong Wha Kim )
한일경상학회|한일경상논집  51권 0호, 2011 pp. 187-216 ( 총 30 pages)
7,000
초록보기
This study analyzes the influence of co-op shopkeepers` leadership on shopkeepers` self-leadership and innovative behaviors in the Korean traditional markets. Extensive literature review and survey questionnaires are used to conduct the research. Data have been collected from the ``S`` company head-office in Daejeon and 500 shopkeepers in over 40 regional markets across the country including seven major cities in Korea. The collected data have been analyzed using AMOS 4.0. Unlike the previous research, this study using samples from the traditional markets finds that transactional leadership has more positive effect on self-leadership and innovative behaviors. Besides, the self-leadership doesn`t function as a medium between transformational leadership and innovation. However, it can work as a medium between transactional leadership and innovation. In conclusion, some limits and directions of research in this area have been suggested for future research. Despite the fact that transactional leadership is found to have a positive effect on self-leadership in this study, a follow-up research should be conducted to confirm the effectiveness of transactional leadership and more research, whether conceptual or empirical, must be needed to find out other types of effective leadership for the revival of the Korean traditional markets.
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