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Since small and medium enterprises (SMEs) play an important role in economic development, the government implements various supports. Nevertheless, SMEs have difficulties in gaining a competitive advantage in the market owing to lack of capital and capacity. Accordingly, SMEs try to secure a competitive advantage through innovation. Government support is necessary for the innovation of SMEs, and it is essential for food SMEs as well. Whether government support for firms can affect firm’s innovation is still a matter of debate. In particular, it is necessary to empirically investigate the relationship between government support and innovation for SMEs in latecomers to the food industry such as Korea. Therefore, this study conducted an empirical study on the factors that determine the innovation performance of food SMEs by government support. This study used a two-stage regression model. The government support does not unilaterally affect innovation performance, but rather, an endogeneity problem occurs through the interaction between them. This study examined the interrelationships between variables for a clear estimate of government support. Before two-stage regression, this study used the ordered logistic regression to determine the instrumental variables. Each instrumental variable was estimated for the seven types of government support that are normally implemented. The result suggests that the government certification support is effective in improving the innovation performance of food SMEs. This study is useful to establish innovation strategies for supporting food SMEs’ innovation in late-coming countries.
Harry Jeong; Kwangsoo Shin; Seunghyun Kim; Eungdo Kim. What Types of Government Support on Food SMEs Improve Innovation Performance? Sustainability 2021, 13, 9461 .
AMA StyleHarry Jeong, Kwangsoo Shin, Seunghyun Kim, Eungdo Kim. What Types of Government Support on Food SMEs Improve Innovation Performance? Sustainability. 2021; 13 (16):9461.
Chicago/Turabian StyleHarry Jeong; Kwangsoo Shin; Seunghyun Kim; Eungdo Kim. 2021. "What Types of Government Support on Food SMEs Improve Innovation Performance?" Sustainability 13, no. 16: 9461.
Digital transformation is perceived not only as a change in certain technology but also as a large transition that will ultimately change our lives for the better. Industry convergence, the key to digital transformation, entails, for firms, both various opportunities for innovation and the crisis of falling behind. Therefore, from the perspective of firms, it is critical to examine how digital transformation affects their industries and products as well as how they perceive and respond to digital transformation. This is ultimately a matter of how firms survive and maintain sustainable growth in this great upheaval of digital transformation. Based on the understanding of the concept of digital transformation, this study explores how high-growth firms perceive various aspects of digital transformation. The findings show that digital transformation involves a change of firms based on constant innovation, not simply the acceptance of technology, and that there is a large digital divide that depends on the firm size and industry type. Based on the above, this study derives implications in terms of the innovation activities of firms to ensure that digital transformation does not serve as a handicap and barrier for firms.
Seunghyun Kim; Byungchul Choi; Yong Lew. Where Is the Age of Digitalization Heading? The Meaning, Characteristics, and Implications of Contemporary Digital Transformation. Sustainability 2021, 13, 8909 .
AMA StyleSeunghyun Kim, Byungchul Choi, Yong Lew. Where Is the Age of Digitalization Heading? The Meaning, Characteristics, and Implications of Contemporary Digital Transformation. Sustainability. 2021; 13 (16):8909.
Chicago/Turabian StyleSeunghyun Kim; Byungchul Choi; Yong Lew. 2021. "Where Is the Age of Digitalization Heading? The Meaning, Characteristics, and Implications of Contemporary Digital Transformation." Sustainability 13, no. 16: 8909.
This empirical study explores the impacts of technological capability on inward foreign direct investment (FDI) with the moderations of institutional quality. We extend the existing literature by contributing the dynamic links between technology trade and institutional quality by using the panel data of 35 Organization for Economic Cooperation and Development (OECD) countries between 2000 and 2015. Based on fixed-effects regression, our results show that there is a U-shape relationship between the net technological capability of a host country and inward FDI. In addition, the institutional quality of a host country, government size and regulation have positive moderations, whereas sound money accessibility and legal system and property protection have negative moderations on the main U-shape relationship. Our study contributes to the literature on the determinants of inward FDI in the context of technological capabilities and institutional quality.
Seunghyun Kim; Byungchul Choi. The Impact of the Technological Capability of a Host Country on Inward FDI in OECD Countries: The Moderating Roles of Institutional Quality. Sustainability 2020, 12, 9711 .
AMA StyleSeunghyun Kim, Byungchul Choi. The Impact of the Technological Capability of a Host Country on Inward FDI in OECD Countries: The Moderating Roles of Institutional Quality. Sustainability. 2020; 12 (22):9711.
Chicago/Turabian StyleSeunghyun Kim; Byungchul Choi. 2020. "The Impact of the Technological Capability of a Host Country on Inward FDI in OECD Countries: The Moderating Roles of Institutional Quality." Sustainability 12, no. 22: 9711.
This study aims to explore whether a firm’s financial sustainability is enhanced by open innovation especially after a global financial crisis. There are few studies on the relationship between open innovation and financial sustainability. This study aimed to fill the literature gap by analyzing the change in the financial ratio according to the increase or decrease in open innovation. We used a case study method regarding large Korean food firms. Korea is a latecomer in the food industry, which is driven by large companies. This study is meaningful for financial sustainability studies of countries with a lack of resources and small market size, which require open innovation. The findings of this study are as follows: The most preferred alliance strategy of large food firms is joint research. In order to secure raw materials and markets, open innovation was actively conducted abroad, which increased growth and profitability. However, a firm which rarely adopts open innovation could grow steadily through internal strategies. On the other hand, although relatively many open innovations have been used, growth and profitability could decrease. Firms with sufficient absorptive capacity strengthen financial sustainability through open innovation.
Harry Jeong; Kwangsoo Shin; Eungdo Kim; Seunghyun Kim. Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry. Journal of Open Innovation: Technology, Market, and Complexity 2020, 6, 101 .
AMA StyleHarry Jeong, Kwangsoo Shin, Eungdo Kim, Seunghyun Kim. Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry. Journal of Open Innovation: Technology, Market, and Complexity. 2020; 6 (4):101.
Chicago/Turabian StyleHarry Jeong; Kwangsoo Shin; Eungdo Kim; Seunghyun Kim. 2020. "Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry." Journal of Open Innovation: Technology, Market, and Complexity 6, no. 4: 101.
Theoretical discussions about the existence of divergence among countries have advanced and are centered on convergence, the technology gap, government-leading catch-up strategies, information communication technology diffusion, and inter-country development gap expansion. By applying economic models to different societies, the income divergence hypothesis for nations can be proven. This income diversion model clearly explains not only the emergence of accelerating and decelerating societies but also the income divergence seen among accelerating societies. Therefore, in this paper, theoretical evidence about divergence is suggested based on the existing discussions related to the issue, and then the inter-country income divergence model is used to explain the differences between accelerating and decelerating societies.
Tai-Yoo Kim; Seunghyun Kim; Jongsu Lee. Determinants of Economic Divergence Among Accelerating Societies. Springer Texts in Business and Economics 2013, 85 -162.
AMA StyleTai-Yoo Kim, Seunghyun Kim, Jongsu Lee. Determinants of Economic Divergence Among Accelerating Societies. Springer Texts in Business and Economics. 2013; ():85-162.
Chicago/Turabian StyleTai-Yoo Kim; Seunghyun Kim; Jongsu Lee. 2013. "Determinants of Economic Divergence Among Accelerating Societies." Springer Texts in Business and Economics , no. : 85-162.
Industrial societies are characterized by accelerating growth. Such growth is generated by expansive reproduction, a process by which economic growth occurs through the accumulation of capital, reinvestment, and technological innovation. This pattern of growth is fundamentally different from that of agricultural societies, which is decelerating. The findings presented herein provide both a more accurate understanding of economic growth patterns over time and a basis for the formulation of policy for achieving accelerating economic growth. In addition, the implications of the findings offer insights into the elucidation of economic growth trends of late industrializing economies.
Tai-Yoo Kim; Seunghyun Kim; Jongsu Lee. Accelerating Economic Growth in Industrial Societies: The Process of Expansive Reproduction. Springer Texts in Business and Economics 2013, 57 -83.
AMA StyleTai-Yoo Kim, Seunghyun Kim, Jongsu Lee. Accelerating Economic Growth in Industrial Societies: The Process of Expansive Reproduction. Springer Texts in Business and Economics. 2013; ():57-83.
Chicago/Turabian StyleTai-Yoo Kim; Seunghyun Kim; Jongsu Lee. 2013. "Accelerating Economic Growth in Industrial Societies: The Process of Expansive Reproduction." Springer Texts in Business and Economics , no. : 57-83.
Previous research on the economic growth of late industrializing countries has been limited. This is primarily because most analyses are based on certain time periods and countries. The present paper tests the growth principles of latecomers and identifies the feasibility of closing the gap. In order to test the causality between exports and growth, a multivariate error correction model is tested, and intra-class correlation coefficient analysis is applied to compare the growth speeds of advanced countries and latecomers. The results show that latecomers acquire their economic growth through export-led industrialization and have similar economic growth speeds to those of advanced countries. However, despite the similarity between the growth speeds, the former cannot overtake the latter. First-generation latecomers that enjoyed rapid growth in the past, eventually failed to overtake the economic growth speed of the US. Thus, it is impossible for today’s rapidly growing countries, such as China, to overtake the US.
Tai-Yoo Kim; Seunghyun Kim. The Catch-Up Illusion: Why Developing Nations that Experience Rapid Economic Growth Can Never Catch Up with Advanced Countries. Springer Texts in Business and Economics 2013, 237 -261.
AMA StyleTai-Yoo Kim, Seunghyun Kim. The Catch-Up Illusion: Why Developing Nations that Experience Rapid Economic Growth Can Never Catch Up with Advanced Countries. Springer Texts in Business and Economics. 2013; ():237-261.
Chicago/Turabian StyleTai-Yoo Kim; Seunghyun Kim. 2013. "The Catch-Up Illusion: Why Developing Nations that Experience Rapid Economic Growth Can Never Catch Up with Advanced Countries." Springer Texts in Business and Economics , no. : 237-261.