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Work Satisfaction and Turnover Intention of Foreign Workers with the Employment Permit System
  • - Hyun Chin (Samsung Economic Research Institute)
  • - Eunmi Chang (Yonsei School of Business)
  • - Ki-Seon Chung (IOM Migration Research and Training Centre)
[Abstract]
The Korean government has established an employment permit system in 2004, transforming the existing Industrial Trainee System. The new system allows foreign workers to have jobs in Korea for a short period of time. To implement the system, Korean government has made MOUs with 15 countries, and accordingly, an increasing number of foreign employees are entering the Korean labor market. Despite the notable increase of foreign employees with the Permit system, the existing studies have focused on the legal, social or adaptation issues, while ignoring the unique issues in managing foreign workers. All the foreign workers are hired by small-sized companies that could not hire Korean workers, and moreover foreign workers frequently leave companies after they enter Korea. The behaviors of the foreign workers often incur illegal stay, forced exit or commitment to crimes. In addition, the small-sized companies that hired but lost foreign workers should also undertake severe costs and difficulties in labor management. Thus, effective management of foreign workers emerges as a very important issue not only for the small-sized companies but also for the society. Relying upon data collected in 2013 by the IOM Migration Research and Training Centre, and using AMOS 19.0 as the statistical tool. the present research explored the determinants of foreign workers' satisfactions at the workplace and intentions to leave companies. The present research examined diverse facets of management, including contract cognition prior to entry (contract facet), total and overtime pay (compensation facet), comparisons with Korean workers regarding intensity and time of job (job equity facet), and conflicts with peers and supervisors (relation facet). Path analysis reported that all the variables except total pay level and equity perception of job time compared to Korean peers, triggered significant impacts on the level of workplace satisfaction of foreign workers. Satisfaction at the workplace, in turn, significantly reduced their turnover intention. Theoretical and practical implications of the results are discussed in the present research.
The Effect of the Real Economic Growth Rate on the Default Rate of SMEs by Industry:Using a Structural VAR Model
  • - Youngho Do (Korea Credit Guarantee Fund)
  • - Youngmin Jang (Korea Credit Guarantee Fund)
  • - Kyungsook Kim (Korea Credit Guarantee Fund)
  • - Seokchin Kim (Kyungpook National University)
[Abstract]
This paper examines the effect of the real economic growth rate on the default rate of SMEs from 1991 to 2013, using a structural VAR model, especially for 17 industries. Our analytic results show that economic slowdown increases the default rate of SMEs. And the cumulative impulse response function shows that 1%p downward shock in the real GDP growth rate increases the default rate of SMEs by 1.44%p for 12 quarters. The effects of economic downturn in construction and wholesale and retail trade industries are larger than those in the manufacturing industry. The largest response after 1 quarter is 0.60%p in the constructing materials wholesale industry. The responses in impulse response function for the post-crisis period from 1999 to 2013 are smaller than those for the entire sample period. The largest response after 1 quarter is 0.15%p in the wood, precious metals, furniture manufacturing industry. This paper provides useful informations for policy makers to mitigate the effect of economic downturn which largely affects the entire national economy.
Structural Relationship of Supply Chain Partnership: Focused on the Role and Contract Period
  • - Seong Su Kim (Institute of International Trade Strategy)
  • - Sang Hwa Song (Incheon National University)
[Abstract]
It has been known that successful implementation of partnerships between participants have positive impacts on the supply chain performance. However, the impact of the participants¡¯ role and the contract duration has not been studied well before. In this study, we formulated the structural relationship of partnership factors using structural equation model and compared the impact of the relationships with different roles and contract periods. The multi-group comparison analysis showed that the cooperation between members is important in the supplier group while the trust and commitment is important in the buyer group. In addition, it was shown that the commitment and trust have positive influences on the supply chain performance in the short-term partnership while the cooperation does in the long-term partnership.
The Cross-Level Moderating Role of Open Communication Climate between Individual Creativity and Champion Behaviors
  • - Ki-Hwan Kwon (Hanbat National University)
  • - Jong-In Choi (Hanbat National University)
[Abstract]
Under fierce competition and rapidly changing economic environment, innovation is increasingly becoming an essential, not an optional, element for SMEs survival. The champion behavior is critical factor to foster innovation in organization. It is triggered by creative ideas from idea champion his/herself or colleagues. Also open communication as interacting mechanism between team members can enhance the relations between individual creativity and champion behavior. This study investigates the effect of individual creativity on champion behavior, and cross-level moderating effect of open communication climate is examined. Data was collected from 223 employees working in different 52 teams of 23 SEMs. The results show that individual creativity has a positive impact on champion behavior and the analysis of cross-level moderating effect exhibits open communication climate further reinforces the positive relationship between individual creativity and champion behavior. Lastly, theoretical and practical implications and the limitations of this research are discussed.
Developing Human Resource in Korean SMEs
  • - Yun-Seong Jo (Chung-Ang University)
  • - Yun-Seong Jo (Chung-Ang University)
[Abstract]
Since human resource is considered to be one of the most valuable asset for SMEs to survive in this global competitive market, various effort has been invested for human resource development. However, there is not much of systematic analysis on how these effort has turn out for the SMEs. By analyzing current HRD condition of Korean SMEs, the purpose of this research is to provide improvement plan of human resource development and to suggest practical implications. Degree of current utilization and awareness of the needs for improvement of job ability development training project were analyzed based on the data from Human Capital Corporate Panel (HCCP). The study examined forms of human resource development, institutions, status of building infrastructures to identify the status of human resource development according to the size of enterprises. The result shows that the operation level of human resource development in SME is lower than the level in large enterprises regardless of types of industries. The research was conducted by using Borich's Needs Analysis Evaluation Model and the Locus for Focus Model to derive the top priorities of the elements of job ability development training which should be improved. As a result, 'facilities/equipment financial support and business loan¡¯, ¡®small and medium enterprises consortium support project¡¯ were identified as the highest priorities.
A Conceptual Study of the Government Supporting Policy for the Micro Manufacturing Industries
  • - Chulmin Kim (Dong-eui University)
  • - Joongyoung Jeong (Dong-eui University)
[Abstract]
This paper tries to derive and suggest the effective government¡¯s policy for revitalizing the micro manufacturing industry as well as defining its concept, analyzing its statistics and current government law and policy. It occupies 80.6 percent and 25.2 percent of the whole manufacturing industry in terms of the number of company and employee in 2014 year, and thus has an important role in manufacturing ecosystem. However, because the micro manufacturing industry is very petite, there are various drawback on the technology and management innovation. Especially, the poor demand and marketing competence make the new market development and brand value creation difficult. Also this industry has experienced difficulty for securing the stable work force and instructing its technology because of the poor work environment. The collaption of this industry can cause the crisis for the whole manufacturing industry. Therefore, economic revitalization through supporting this industry is very important issue for the Korean government. This paper suggests the effective supporting policy as a settlement of the work force miss-match, establishment of the specified marketing supporting institute, export driven policy, reinforcement of the support for the cooperative association, support of the own brand development, and innovation of the factory facility. However, this suggestion is only the necessary condition for the growth of micro manufacturing industry. Its own innovation effort armed with the entrepreneurship is the most important because the government could only support the business but can not stand in for the business.
A Case on the Values Management of IS Group
  • - Mi-Na Jo (Seoul School of Integrated Sciences & Technologies)
  • - Dong-Hyun Lee (The Catholic University of Korea)
[Abstract]
IS Group first started pursuing business endeavors in the construction industry, and has since expanded its business scope to include everything from shipping & logistics to manufacturing and rental service over the course of several mergers and acquisitions. Although M&As were undertaken with the purpose of evolving the company, there have since been problems with integrating the differing organizations due to the incomplete internal consolidation. In an effort to resolve these problems, IS Group adopted the Values Management as a means to align all of its employees with consistent business values. The Group endeavored to promote these values to all members of IS group and internalize the values by establishing persuasive logic that all members could relate to. In addition, representatives (vision coordinators) from each affiliate were brought together to attend meetings so that IS Group could listen to their opinions and heed them, while questionnaires and training were conducted targeting all employees. For these activities, in particular, IS Group devote its best efforts for combining the members¡¯ opinions. Furthermore, IS Group incorporated this feedback into strategies of the company and policies to enable its members to apply them to their everyday life. IS Group has been accomplishing meaningful financial performance based on their social achievements to align all members through the Values Management.
The Effects of Venture Business Finance Supporting Programs on Efficiency and Productivity of Venture Firms Using Data Envelope Analysis
  • - Hong Kee Kim (Hannam University)
  • - Jin Man Yoo (Chungnam National University)
  • - Keun Yeob Oh (Chungnam National University)
[Abstract]
This paper aims at analysing the effects of venture business finance supporting programs on efficiency and productivity of the venture firms, on the basis of the data envelope analysis (DEA) using data of 406 firms in the 2013 Venture Business Detailed Survey of Small and Medium Business Administration. The conclusions are summarized as follows. First of all, the efficiency of government finance supported venture firms is higher than that other venture firms. The increase of productivity in venture firms enjoying government supporting programs is higher than that in venture business without government supporting programs, especially in the technical progress rather than in efficiency improvement. Also the R&D supporting programs for venture firms lead to an increase in productivity. Taking the above results into consideration, government¡¯s venture supporting programs are evaluated to be effective in terms of an increase of productivity and the proper scope for fragile venture firms.
A Study on the Tax Burdens for Family Business Succession and Taxpaying Abilities of Korean SMEs: Focused on the Portfolios of Inherited Properties
  • - Jae-Ryung Choi (Industrial Bank of Korea)
[Abstract]
This paper addresses the succession tax burdens and taxpaying abilities of Korean SMEs using unique dataset of 126 companies using simulations. According to the results, the average money value of each ancestor¡¯s total wealth is KRW 10.15 billion including stocks of family businesses, real estates, financial assets and other properties such as memberships and retirement pays. The average money value of family business is KRW 5.91 billion estimated on the relevant tax laws. The average amount of succession tax is KRW 3.80 billion for each successor to succeed all the inherited properties from his or her ancestor if he or she will not get tax deduction for family business succession. Under the assumption that all the successors can satisfy the preconditions for the full deduction, then the tax amount goes down to KRW 1.84 billion. But only 48.0% of the successors of sample companies actually satisfied the preconditions for the deduct and in this case the succession tax amount is KRW 2.87 billion. Under the assumption that all the successors cannot get the tax deduction and the imposed succession tax should be pay by the inherited liquid properties such as cash, financial asset and other liquid properties, then most of the successors confront with the lack of fund to pay, an amount up to KRW 23.8 billion on average. Under the assumption that all the successors can get the deduction fully, the fund shortage goes to KRW 420 million. The reason why the successors have not enough funds to pay succession taxes might be explained by the skewness in the portfolios of inherited properties. Simply, the ancestors have too much real estates and too little liquid assets. The propensity results in not only huge tax amount incurred for business succession but also the lack of fund liquidity to pay the tax. Interestingly, it is found that some of sample companies that are run by CEOs who have more business related assets and less personal real estates in their property portfolios show higher profitability than the others. In order to avoid troubles embedded in succession of family business in terms of tax issue, CEOs need to restructure their property portfolios before the event of succession. Also it is recommended for the policy makers to focus on improving the effectiveness and efficiency of the current succession tax system by reviewing the details of the relevant laws rather than to expand the limit amount of the deduction and the scope of beneficiaries of the deduction dramatically.
Regional Adolescent Job Creation Performance Case through Improvement of Youth Start-up Supporting Process
  • - Seok-Hwa Jeong (Kumoh National Institute of Technology)
  • - Hoe-Kyun Shin (Kumoh National Institute of Technology)
[Abstract]
The objective of this study is to increase the success rate of company establishment through improved youth start-up supporting process, which suggests cases creating job performance of the regional adolescent based on this.
Referring to successful factor, first, college students completed an EnBiz start-up track in a start-up preparing step, and ordinary people ed a youth founder from preliminary youth founders completing a technique start-up academy through a preliminary start-up circle and preliminary technique founder finding process. Second, a start-up mentoring group pool including a consulting expert group, a technique expert group and an enterprise CEO group has been operated, thereby enhancing utive ability of real start-up through an early foundation of the start-up. Third, administration based consulting was supported so as to accelerate growth expedite of the start-up through market entry. Fourth, continuous youth start-up synergy effect was created by using growth support about excellent graduation enterprise starting successfully a business, ecosystem construction for the graduate enterprises and institutionalization of employment creation support through construction of a founder virtuous circle system.
The limited point of this study is restricted to a particular local government within the region regarding research targeted specimen and there is a necessity to study more comprehensively concerning success and failure cases, as expanding them to city and province (do) of other local governments.
In future tasks, it is necessary to set and analyze a meaningful sample about success ratio and fail ratio of the start-up, a running period of time of sustainable youth start-up, etc. in accordance with supporting field of the youth start-up and to reflect institutionally to a support policy of our national youth start-up based on the setting and the analysis.