한국기업의 국제경영전략으로서의 국제 M&A에 관한 연구

조희영,장광호 동국대학교 경제경영연구원 1997 經濟經營硏究 Vol.21 No.1

From the times of the mid-1980s, Foreign Direct Investment(FDI) of Korean Firms has begun to show high degree and diversification, that is due to the rapid economical and managerial changes both domestically and Internationally. with the vigorous evolvement of this phenomenon, Int'l M&A has put in an appearance as a vital instrument of International Business Strategy of Korean firms. The most important characteristics of Int'l M&A is that it is the strategic asset-seeking investment through the utilization of exterior managerial resources, and a large number of theoretical and empirical studies shows that International M&A is superior to other forms of Foreign Direcct Investment is its performances. The main or principal motives of Int'l M&A are 1) successive growth of firms 2) acquirement of raw materials and resources 3) procurement of advanced technological knwohow 4) ensurement of over-seas market 5) diversification of products and region and 5) upgrade of labour productivities etc, The important characteristics of Int'l M&A of korean firms is 1) preponderances to the advanced countries 2) large scale of an amount of investment 3) simplicity of money and 4) taking the initiative by large and major firms etc, The necessities of Int'l M&A in Korean firms is can be summarized as follows : enfeeblement of price competition in international market, unstable movement of foreign exchange, procurement of advanced technological knowhow and advent of the era of high wage. To cope with the above situation strategically, Korean firms have to lay out a scheme as follows - procurement of professional knowhow, reasonable valuation to target firms, complete controlling of foreign exchange risk and make provision to out-in styles on M&A. Effective and well-directer use of Int'l M&A, to Korean firms, can and will served as a vital instrument and reasonable alternatives of efficient strategy on Foreign Direct Investment.

한국기업의 진출을 위한 중국시장의 투자환경에 관한 연구

조희영,정경택 동국대학교 경영관리연구소 1994 經營經濟論叢 Vol.18 No.-

Our investment to china has been increased since 1989. But the degree of investment is a little lower than that of any other countries. Under the internalization Korea should replace America, Japan with China to trade or invest because China is more attractive than America or Japan. From the theoretical study, the results are as follows. First, Korean corporates are competitive with Japanese on the obtaining skillful labor and raw materials at the area of Sandongsung, Tenjincity, Killimsung etc. Secon, Japaness diversify from manufacturing department to non-manufacturing department, from labor-intensived industry type to capital-intensived one. So it is necessary for Korean to make more attractive investment strategy Third, in case of direct investment, Japaness Keep primarily to prevent the transfer of production technology before maturity. But Korean is neccessary to review the technology transfer if getting the adverse profit of benefit. Fourth, Korean needs ①to co-build department store, ②to open the market which only sell Korean product and to use together ③to lift the cognition through the lease of chinese department store. Fifth Korean have stand-alone strategy but To make alliance with chinese of other country is necessary. So. to develop the chinese market for a long term view, Korean pursuit bilateral strategy by way of the internal production of high value added products and the production with in china of low value added products. Besides, it is necessary to co-invest with foreign corporates(example ; HongKong), to co-enter the chinese market with Korean corporates, to invest actively on the distribution sectors and major industry.

기업의 국제간 전략적 제휴 성과영향요인에 관한 실증연구 : Focus on Cultural Factors

조희영,정희영 동국대학교 경제경영연구원 1999 經濟經營硏究 Vol.23 No.1

Recently, companies recognize strategic alliance as an absolutely needed factor in business strategy to cope with the rapidly changing business environment. In the age of globalization and limitless competition, strategic alliance is a necessary strategic tool for business survival and internationalization. Strategic alliance is a cooperative relationship among companies which can benefit from each other by sharing their competitive asset such as knowledge management, and management know-how. The purposes of this study are as follows; First, to arrange the various concepts of strategic alliance through literature reviews. Second, to summarize empirical tests related to affective performance factors of strategic alliance. Third, to examine the theoretical studies of the affective performance factors. Fourth, to test the relationships among variables affecting performance of strategic alliance. specifically, Partnership attribute variables and Communication variables Fifth, to test how to influence on the affective performance factors according to the moderated variables To test the hypotheses, 76 Korean companies jointly allianced with foreign companies were surveyed. To test the hypotheses, reliability test, factor analysis. correlation analysis and multi-regression analysis of variance are used. Based on the previous studies, the selection of variables of affective performance factors in strategic alliance is largely divided concerned variables into two categories, and moderated variables is used to Cultural Sensitivity and Similarity. In this study the variables of affective performance factors are followed. 1) The partnership attribute. 2) The communication. 3) The cultural sensitivity. 4) The similarity. The results of this study are as follows ; First, the results of analysis show that partnership attribute is partly related to performance. Second, the results of analysis show that degree of communication is strongly related to performance. Third, the results of analysis show that according to cultural sensitivity is not influence in performance. Fourth, the results of analysis show that according to the similarity is partly influence in performance. Korean companies were make much importance communication of strategic alliance. that were partly influence in performance according to the similarity. This study, however. has some limitation that insufficient data, especially the shortage of the strategic alliance data and case in korean firm's and foreign companies. alliance companies need to regard maintaining, promoting those fator(similarity, communication) as improve the alliance performance.

자회사 자율성에 영향을 미치는 요인에 대한 연구 : 자회사 네트워크 배태성(embeddedness)을 중심으로

조희영,김령석 동국대학교 경제경영연구원 2001 經濟經營硏究 Vol.25 No.1

본 연구는 자회사의 네트워크 배태성, 능력, 성과가 자회사의 의사결정상의 자율성에 어떠한 영향을 미치며, 또한 배태성이 능력과 성과에는 어떤 영향을 주고 있는지를, 한국에서 경영활동을 수행한지 최소 5년 이상이 경과한 해외 다국적 기업의 자회사를 대상으로 실증분석 하고 있다. 각 기업의 마케팅 또는 생산부서의 책임자를 핵심응답자로 하는 설문조사를 통해 자료를 수집하였고, 회귀분석을 통해 연구에서 설정한 제 가설들을 검증하였다. 검증결과 자회사의 능력과 성과는 자율성과 긍정적인 관계가 있고, 이들 변수들은 또한 배태성에 의해 긍정적인 영향을 받고 있음을 알 수 있었다. 그러나 배태성이 자율성에 긍정적인 영향을 미칠 것이라는 가설은 통계적으로 유의하지 않은 결과를 보여주고 있다. 본 연구는 선행연구들과 달리 영향요인으로 배태성과 능력을 고려하고 있으며, 자회사 관점에서, 자율성 증대방안에 대한 시사점을 제공한다는 점에 의의가 있다.

FIRST의 開發과 使用者滿足度에 관한 硏究 : FUZZY LOGIC적용을 중심으로 focused to apply the Fuzzy Logic

趙熙榮,李鍾浩 동국대학교 경영관리연구소 1992 經營經濟論叢 Vol.16 No.-

Nowadays we live in the age of the information overflow. So the amount of the information grows larger and larger. Therefore the opportunity to retrieve them will be added up. To do so, but the effective information media is necessary. Especially, most informations consist, largely, of natural langage. But the retrieval of the natural language is very hard and complicated because of the vagueness and uncertainty. We try to discover the useful method of information retrieval, at the result, the Fuzzy Information Retieval, so it is called, is developed. We have many chances to experiment the FIRST, its results are very effective. Because this system(FIRST) is applied with the fuzzy logic. Any other retrieval method do not apply the fuzzy logic but the boolean logic. So only our system does it. It is this system's merit. The resutts of this study are as follows First, the experiment objects are divided into three groups. One is beginner group who do not have any chance to make use of the information retrieval system. Other is average group whose ability is between beginner group and expert group. The Other is expert group who can utilize the information retrieval system well. Second, at the result of the retrieval on the specified subject, the recall rate of the expert group is higher than those of the rest. Third, the precision rate is the same as the that of the recall rate Fourth, relation degree which is originally developed in our system is very helpful to retrieve lots of the information and its accuracy is relatively high. Fifth, most applicants provide that the fuzzy retrieval is more accurate, effective and useful to utilize than the keyword retrieval. Sixth, the recall rate and precision rate of the expert group is higher than those of the beginner group. And the case of applying the relation degree, the result is the same as that of the recall and precision rate. Seventh, in general, the fuzzy method is prevalent in expert group and it has better user satisfaction than the rest method. In other countries, many research institutes are trying to apply the fuzzy logic in all parts including Business Administration, Industrial parts etc. Now, we need to make every effort of the research and the method of applying the logic to all possible parts.

西田哲學의 合理性과 非合理性

趙熙榮 全南大學校 人文科學硏究所 1984 용봉인문논총 Vol.14 No.-

日本における西田哲學に對する一般的見解によれば,西田の初期著作は論述が簡明であり,論理的であるので合理性をもち,これに反して,西田の後期著作は論述が晦澁であり,論理的飛躍があるので非合理性をもつ.このような見解は論理的整合性と不整合性だけを基準として見たものである. しかし,これとは別に思想が現實的妥當性をもつか否かを標準として見た場合には,西田の初期著作,例えば,善の硏究における "意識現象が唯一の實在である." "意識が身體の中にあるのではなく身體がかえって自己の意識の中にある." "意識の外に或る定まった性質を具えた物の本體が獨立に存在し,意識現象はこれに基づいて起る現象にすぎないと考えられているが,しかし,嚴密に意識現象を離れては物そのものの性質を想像することはできぬ."などという文章が示すように,初期の西田哲學は,まったく觀念論の立場に立っているが,これを井上哲次郞の現象卽實在論,サルトルの現象卽本質論,ハルトマンの批判的存在論など,實在論的傾向の哲學思想と比べて見るときに,西田哲學の非現實的思考が目立ち,したがって,それが非合理性をもつと見ることができる. しかるに,西田の後期著作,例えば,「現實の世界の論理的構造」という論文は,その題目がハルトマンの著作 實在世界の構造(Der Aufbau der realen Welt)と似ているが,內容においても兩者ともに,具體的現實世界の構造分析をなしている.このように,後期の西田哲學はハルトマンの哲學思想と多くの共通点をもつようになる.西田は後期において,とくに歷史的現實における人間のポイエシス(製作)とプラクシス(實踐)を重んじているが,このような後期西田哲學が示す具體的現實性から,その合理性を發見することができる. 以上のように,小論においては通說とは反對に,初期の西田哲學が非合理性をもち,かえって後期の西田哲學が合理性をもつものであることを,井上哲次郞,サルトル,ハルトマンなどの現實主義の哲學思想と比較しながら立證することによって,後期西田哲學の重要性を明らかにした.

銀行監督院 歸屬問題에 關한 考察

趙熙榮,金桂仁 동국대학교 경영관리연구소 1995 經營經濟論叢 Vol.19 No.-

It is desirable that the Office of Bank Supervision remains in the Bank of Korea. Since it is providing commercial banks with loans as a part of its monetary policy, the Central Bank, as lender of the last resort, has a right to audit and supervise the banks', the debtors', financial conditions. When the financial market is in crisis caused by insolvency of commercial bank, it is the Central Bank that can settle the crisis by supplying money. In order to prevent such crisis and effectively cope with it when it actually occurs, the Central Bank always needs to supervise the soundness and financial management of each commercial bank. In this sense, if and when the Office of Bank Supervision separates from the Bank of Korea, the efficiency of both monetary policy and bank supervision will greatly be undermined. In order to effectively perform its monetary policy, the B.O.K requires prompt and accurate information, and it can get access to such information through proper bank supervision. Furthermore, bank supervision is a technological and specialized work that requires understanding and sense about general banking activities. Therefore, it is efficient the Central Bank is in charge of bank supervision which has accumulated experience and expertise through the process of performing monetary policy. Even though the Office of Bank Supervision separates from the B.O.K, the B.O.K will have to continue to supervise commercial banks by all means. If this happens, therefore, there'll be two separate institutions that are in charge of bank supervision, resulting in increase of social cost. Establishing the Finance Supervisory Board incorporating the Office of Bank Supervision, the the the Security Supervisory Board and the Insurance Supervisory Board may bring on cost reduction by streamlining the organizations and by cutting down manpower. But the merger, however, will bring more loss than gain by causing inefficiency in terms of the function of supervision. When the F.S.B supervises all the three bank, security and insurance businesses whose works are essentially different, its financial criteria may fail to reflect each institution's characteristics and changes in management and environment. Then, it is hard to expect the F.S.B to properly supervise each of the three financial institutions in accordance with its own nature. Despite the recent trend of universal banking system in Korea, the basic divisions of the three financial institutions is highly likely to continue. In this sense, it is strongly suggested that the basic frame of divided and specialized supervising system by maintained. Additionally, there is very few country in the world where one finance supervising institution is in charge of supervising all the bank, security and insurance businesses.

韓國金融制度改編의 基本方向

趙熙榮,金桂仁 동국대학교 경영관리연구소 1991 經營經濟論叢 Vol.15 No.-

During the economic development period in the 1960s and 1970s, the commercial bank system was diversified including the local banks and foreign bank branches. Various specialized banks were established for the purpose of supplying funds to special sectors. Different kinds of non-monetary financial institutions were institutionalized in order to absord curb market funds and to provide diversified financial instruments to the public. As a result, the speciaization or segmentation became to dominate the financial system. The current system however, is but a product of government initiative. The diversification and specialization has proceeded not according to carefully thoughtout plans based on premeditated principles, but according to stop-gap measures of a fire-fighting style. Hence, soume problems are inherent in the current system., The specialized banks established by special laws were supposed to raise their necessary lending resources mainly through borrowing government funds or from overseas, but they are now raising 50-80 percent of their resources through the taking of deposits or the issuing of debentures to the public competing with commercial banks. Therefore, in order to promote the managerial efficiency of the specialized banks and to enhance fair competition between them and the commercial banks. the specialized banks should be denationalized and transformed into commercial banks. With the introduction of some new financial instruments in the first half of the 1980s, each group of financial institutions attempted to expand its business domain: causing some overlapping of business activities, imbalanced competition and blurred compartmentalized boundaries, and as a result the market share of the banks' is lowered. For instance, commercial banks are dealing with some non-intrinsic banking business such as the sale of commercial bills and government and public bonds on repurchase agreements, while some NMFIs, such as the Investment and Finance Companies and the Mutual Savings and Finance Companies, are raising resources through deposit taking or borrowing from other institutions. there is also some overlapping business between the NMFIs and securities companies, and between different types of institutions within the NMFIs. Hence, it is necessary to make a fundamental review or the overall financial system and to restructure it according to the principle of enhancing competition, promoting efficiency, maximizing productivity, providing maximum convenience to the public and securing the sound management of each institution. The general consensus concerning the long-run direction of the restructuring seems to be going toward a universal banking system. In general, a universal banking system has some advantages over a specialized system such as promoting competition, renewaling greater managerial flexibility under the everchanging business environemnt and enabling comprehensive financial service to clients. A universal banking system would be superior to a specialized one, if the economies of scale or the economies of diversification is valid. On the other hand, a universal banking system contains some disadvantages such as the lack of specialization, the possibility of overconcentration leading to monopolistic practices and difficulties of control and supervision. However, although the universal banking style is considered to be the ideal form in the long-run, the cost of transition from the current system has to be taken into account. A radical reform would cause many undesirable side effects in an environment in which banks managerial autonomy is not fully achieved, most interest rates are strictly controlled and NMFIs are still vulnerable to unprotected competition. Therefore, most people support the approach of gradual transformation toward a universal banking system suggesting that the current compartmentalized system should be maintained for some time and subsidiary system should be permitter inherent. Of course the supervision and inspection must be strengthen and adapted too. For the enlarged effect of reform, the gradual deregulation of interest rate is necessary. The desirable order should be; deregulation of the securities market should precede that of the intermediary financial sector; within the intermediary financial institutions, lending rates and long-term rates should be freed earlier than deposit rates and short-term rates.

Uruguay Round 금융서비스협상이 한국금융서비스개방에 미치는 영향과 그 대응

조희영 동국대학교 경영대학원 1995 經營論叢-東國大學校 經營大學院 Vol.19 No.-

유럽 通貨制度의 發展과 展望에 관한 考察

趙熙榮 동국대학교 경영관리연구소 1993 經營經濟論叢 Vol.17 No.-