This page has only limited features, please log in for full access.
This study investigated whether firms’ knowledge assets and path dependence in their innovations affect firm value. For the analysis, I used 37 firms in the semiconductor industry in Korea. These firms were listed on the Korea Stock Exchange and the Korea Securities Dealers Association Automated Quotation as of 2010 and through 2015. The dependent variable was measured by return on assets as firm value, and the ordinary least squares estimation was used. The results showed that a firm’s knowledge assets have a positive effect on firm value. In addition, when a firm creates new knowledge, if the firm follows path dependence by using its own knowledge, it has a positive effect on firm value. By contrast, when a firm conducts innovations using knowledge created by other firms, it has no effect on the value of the firm. Additionally, I found that technological innovation based on knowledge assets and path dependence has a positive effect on firm value in the short term but has no effect in the medium term. Thus, firms need to continue their innovation to maintain their competitive advantage and to use their existing knowledge in innovation in order to have high performance.
Yoonkyo Cho. The Effects of Knowledge Assets and Path Dependence in Innovations on Firm Value in the Korean Semiconductor Industry. Sustainability 2020, 12, 2319 .
AMA StyleYoonkyo Cho. The Effects of Knowledge Assets and Path Dependence in Innovations on Firm Value in the Korean Semiconductor Industry. Sustainability. 2020; 12 (6):2319.
Chicago/Turabian StyleYoonkyo Cho. 2020. "The Effects of Knowledge Assets and Path Dependence in Innovations on Firm Value in the Korean Semiconductor Industry." Sustainability 12, no. 6: 2319.
The purpose of this paper is to analyze the economic effects of foreign direct online purchasing on the Korean economy using computable general equilibrium and to analyze the future growth of electronic commerce. We assumed that foreign online direct purchasing has reduced transaction costs in two ways: reduction of tariff equivalents and a decline in direct import prices. Simulation results showed that the reduction of both tariff equivalents and import prices due to an increase in foreign direct online purchasing increased the public welfare of the Korean economy. We also found that the reduction of import prices had a greater impact on the welfare increase than did the tariff reduction. Therefore, electronic commerce has a positive impact on the Korean economy, and we expect that businesses in the field will be diversified and prosper in the future.
Yoonkyo Cho; Taehwan Kim; Jaewhak Roh. An analysis of the effects of electronic commerce on the Korean economy using the CGE model. Electronic Commerce Research 2019, 1 -24.
AMA StyleYoonkyo Cho, Taehwan Kim, Jaewhak Roh. An analysis of the effects of electronic commerce on the Korean economy using the CGE model. Electronic Commerce Research. 2019; ():1-24.
Chicago/Turabian StyleYoonkyo Cho; Taehwan Kim; Jaewhak Roh. 2019. "An analysis of the effects of electronic commerce on the Korean economy using the CGE model." Electronic Commerce Research , no. : 1-24.