제1분과 : 인사조직 : THE META - STRATEGY OF ACTION : DIMINUTION , AUGMENTATION , INVERSION , AND CODA

박헌준 ( Hun Joon Park ) 한국경영학회 1990 추계학술연구발표회 발표논문집 Vol.- No.-

영화와 경영교육

박헌준(Hun Joon Park),Joseph E. Champoux,김상준(Sang Joon Kim) 한국경영학회 2004 Korea Business Review Vol.7 No.2

본 논문은 영화가 경영교육의 새로운 자원으로써 효과적임을 실제 경영협상교육 사례를 중심으로 논한다. 특히 갈등상황을 배제하기 어려운 기업경영 환경 속에서는 갈등 해결과 문제 해결을 위한 창의적 사고가 필요한데, 이를 위해서는 좌뇌 편향적인 교육에서 벗어나 전뇌적인 교육을 지향해야 하며 또한 새로운 매체를 통한 교육방법의 개발과 교육효과에 대한 검증이 필요하다. 영화는 영상매체로써 문자매체에 비해 해석의 거부감도 적고 문화적 차이, 언어적 차이를 극복할 수 있으므로 교육에 유용하다. 따라서 영화를 문자매체와 더불어 학습에 활용한다면, 이해를 위한 몰입이 빠를 뿐만 아니라 전뇌적인 학습이 가능하게 되고 창의적 사고를 유도할 수 있다. 이를 위하여 실제 영화가 경영교육에 어떻게 활용될 수 있는지 영화 교육방법과 실제 강의에 어떻게 활용 할 것인가에 대한 방안을 제시하고, 실제 경영협상교육 사례를 중심으로 영화를 통한 교육의 학습 효과를 고찰함으로써 효과적인 경영교수법을 모색한다. This study shows effectiveness of films for teaching method, especially management education, through a case of teaching negotiation. Particularly the corporate environment that meets many troubled situation calls for creative thinking for managing conflicts and problems among many other group or persons associated. For creative thinking, we have to consider the whole brain educational approach beyond left-brain-oriented educational approach, and the development of teaching method through new media, then investigate the learning effect on teaching resource. The film can be far-reaching teaching resource because it has less accommodation for understanding as visual media than written language, and can reduce the cultural and linguistic difference between other country. adaptation is useful. Therefore, Using the film as teaching resource with classical teaching method can give us not only easy understanding for management theory and concept, but also whole brain learning, then creative thinking. Thus, we describe how to facilitate the films in the classroom for teaching resource, and explore the effective educational method through a case of teaching negotiation by the film.

기업윤리 연구의 최근동향과 실증연구 과제

박헌준 ( Hun Joon Park ),권인수 ( In Su Kwon ) 한국윤리경영학회(구-한국기업윤리학회) 2004 企業倫理硏究 Vol.8 No.-

경영자의 비윤리적 의사결정을 최소화하기 위한 투명경영 시스템

박헌준(Hun-Joon Park),김상준(Sang-Joon Kim) 한국인사ㆍ조직학회 2005 인사조직연구 Vol.13 No.2

본 연구는 경영자의 비윤리적 의사결정을 최소화하기 위한 투명경영 시스템을 제시한다. 이를 위해 대리인 이론에서 출발하여 공식적 통제 메커니즘과 주인-대리인의 관계 묘사를 중심으로 시스템다이내믹스 모형을 개발한다. 투명경영 시스템다이내믹스 모형은 크게 경영자의 비윤리적 의사결정 과정, 신제도주의적 관점에서의 공식적 통제, 그리고 내ㆍ외부 감시메커니즘의 세가지 영역을 통합하여 구축되었다. 구축된 모형을 바탕으로 세 가지 영역의 변화에 따른 대리인의 비윤리적 의사결정 양상을 시뮬레이션한다. 그 결과, 제도적 규제에 있어서 공식적 통제를 강조하는 것은 대리인의 비윤리적 의사결정에 긍정적인 영향을 주지만 단기적인 효과에 불과하고, 장기적인 관점에서 대리인의 기회주의적인 행동을 야기하게 된다. 따라서 효과적이고 지속가능한 투명경영을 위해서는 제도의 선택이 공식적 통제에 집착하지 않고, 사회적 배경과 기업지배구조의 구성원들의 상호관계를 모두 고려한 사회적 배경 속에서 이루어져야 함을 제시함으로써 투명경영에 대한 실천적, 이론적 시사점을 제공한다. This Study develops the system dynamics model on corporate transparency in the view of minimizing an executive's ethical decision-making. The model begins with the agency theory including formal control mechanisms and principle-agent relationship. As critical elements for developing the model, we conceive institutional regulation as the relative importance between formal control and social control, the board's independency as internal monitoring mechanism, and the stakeholders' activity as external monitoring mechanism. As the result, the enhancement of formal control for the institutional regulation only has the immediate positive effect on the agent's ethical decision making. It has the limitation of long-term performance, permitting agents' opportunistic behaviors. For the effective and sustainable corporate transparency, we show practical and theoretical implications that the installation of institutions should include less 'firefighting' with formal control than considering social context with the relationship among governance parties.

디지털 시대의 e 협상

박헌준(Hun Joon Park),이종건(Jong Keon Lee),성상현(Sang Hyeon Sung) 한국경영학회 2001 經營學硏究 Vol.30 No.2

Due to the development of Internet and digital technology, negotiators are increasingly relying on electronic media to overcome the constraints of time and space and to improve their performance. The purpose of this comparative study on negotiation strategies and outcomes between electronic negotiations via e-mail and computer chatting and face-to-face negotiations is to determine ways to strengthen negotiation competence. Both qualitative and quantitative data were collected from senior-level undergraduate students who participated in comprehensive simulated buyer-supplier negotiations via e-mail, computer chatting, and face-to-face communications. Results show that it is more difficult to build rapport in electronic negotiations than in face-to-face negotiations but that the impact of rapport on negotiation outcomes is much greater in electronic negotiations than in face-to-face negotiations. In electronic negotiations, it was more difficult to build a positive relationship through the expression of rapport, self-disclosure, and trust and cooperative attitudes. Electronic negotiators used more unpleasant communications and their outcome satisfaction rate was lower than face-to-face negotiators. We found that there were better negotiation outcomes when negotiators interact with their partners longer and more frequently to build positive relationships and when they wrote or read more sentences and emotions expressing the feeling of intimacy, belief, and friendly atmosphere in electronic negotiations. Electronic negotiators used positional bargaining more than face-to-face negotiators. With the exception of using tit-for-tat, electronic negotiators used fewer negotiating strategies than face-to-face negotiators. Electronic negotiators used less cooperative, and less tit-for-tat than they planned to use. However, face-to-face negotiators used less cooperative, more competitive, and more random strategies than they planned to use. Specifically there is an inverted U-shaped relationship between the use of competitive strategies and negotiation outcomes both in electronic negotiations and in face-to-face negotiations. Finally some practical implications are discussed.

한국기업의 대리인비용과 기업가치

박헌준(Hun Joon Park),신현한(Hyun Han Shin),최완수(Wan Soo Choi) 한국경영학회 2004 經營學硏究 Vol.33 No.2

We examine the relationship of foreign investors‘ equity ownership, agency costs, and firm value using 4,721 firm-year observations of industrial firms listed in the Korea Stock Exchange between 1992 and 2001. A recent increase in foreign ownership may be viewed as a formation of competing block holders against domestic large block holders and owner managers. Foreign ownership of Korean firms has been very small and was not likely to affect firm`s decision until the Korean government opens the capital markets to the foreign investors in 1992. Since then, foreign ownership increases gradually and foreign institutional investors become more active investors after all the foreign investors` ownership limitation is lifted in 1998. For instance, market capitalization owned by foreigners is 36.6% of total market capitalization in year 2001. In the same year, Korea Stock Exchange reports that foreigners own 43.16% of top 10 chaebol-affiliated firms in Korea. Because of increased ownership stake, foreign investors are more likeiy to become long-term and active investors as well as independent of the ultimate owners of the firm so that the agency costs and firm value are likely to be determined by foreign ownership. However, studies examining the role of foreign investors with regard to agency costs have not been sufficiently documented yet. This paper investigates the relation between foreign ownership and agency costs due to managerial moral hazard. Monitoring role of foreign investors would be more effective and the managerial agency costs would decrease as the foreign investors’ equity ownership increases. An example of agency costs is the managerial perquisite consumption that depends on managerial discretion. We use the entertainment expenses per sales as the proxy for agency costs since these kinds of expenses depend on managerial discretion and can be regarded as lavish “perks” consumption rather than as investment for future growth. Yafeh and Yosha(1996) document that discretionary spending such as advertising, research and development, and entertainment expenses decreases as ownership by large shareholders increases. Morck and Nakamura(1999) further document that entertainment spending falls as cash flow falls among the non-bank group firms due to closer bank monitoring. In addition, if there is a relation between foreign ownership and agency costs, foreign ownership may affect firm value, too. Thus examining the monitoring role of foreign shareholders and the exploring the relation between foreign ownership and firm value is clearly an interesting research topic. However, there are very limited researches examining the relation between firm value and foreign ownership. We believe that it is because that foreign ownership is minimal in most developed countries as well as in most developing countries. To our knowledge, the only empirical paper on the relation between firm value and foreign ownership is Khanna and Palepu(1999) which examine the relation for Indian firms. We use Tobin`s q ratio as a proxy for firm value. We find evidence supporting that to some extent foreign investors in Korea efficiently monitor management and reduce entertainment-like-expenses. The findings also suggest that the relationship between firm value measured by Tobin`s Q and foreign ownership will be positively related. Consistent with the conjecture, we find evidence supporting the positive linear relation between firm value and the foreign investors` equity ownership. Our findings imply that inducing foreign investors to hold equity ownership may improve firm value by reducing agency costs.

기업윤리에 대한 연구방법론 탐구

박헌준(Hun Joon Park),이제구(Je Goo Lee) 한국경영학회 1996 經營學硏究 Vol.25 No.3

This paper presents some alternative research methodologies to improve the level of inquiry into business ethics and ultimately to enhance the level of practical usefulness by linking theories with ethical realities of organizations and their members. While there is an increasing attention to the study of business ethics, most extant researches did no more than arousing the ethical consciousness and awareness among ourselves. Conventional quantitative studies have their own limitations since ethical matters are subjective phenomena in itself. Naturally most of them lack deep understanding of ethical realities and do not contribute much to bridge the gap between theory and reality as well as the gap between theory and its praxis. These limitations also originated from the epistemological conflicts between normative legitimacy and economic efficiency. It is, therefore, essential to inquire into some alternative research methodologies that would grasp the ethical context of business organization, its members, and its stakeholders. Three research methodological strategies are suggested and illustrated: (1) RRT(Randomized Response Technique), (2) ethnomethodology, and (3) Q-methodology. These methodological strategies are discussed in terms of either problem-oriented research or theory-focused research. Finally, this paper calls for the methodological diversity and action learning inquiry among our research community.

LG 그룹의 진화: 가족 기업집단 관점

박헌준(Hun-Joon Park),김희천(Hicheon Kim),김지은(Jieun Kim) 한국경영학회 2021 Korea Business Review Vol.25 No.신년 특별호

본 연구는 LG그룹이 소규모 가족기업에서 세계적 가족 기업집단으로 성장할 수 있었던 원동력을 소유지분구조, 경영의 전문화, 경영이념의 세 가지 축으로 연구하였다. 사례연구결과, LG는 허씨와의 동업으로 시작하였고 세대를 거치며 경영에 참여하는 친인척이 수가 급격히 증가하며, 이에 따라 소유지분구조 역시 매우 복잡해진다. 그러나 LG는 3세대를 거치며 지주회사 설립과 계열분리를 통해 지배가족의 소유지분구조를 단순화시켜 경영의 효율성을 획득한다. 또한, LG는 가족 내부에서 인적자원을 조달하던 소규모 가족경영으로 시작하였지만 세대를 거치며 지속적인 경영의 전문화를 추구한 것으로 나타났다. 국내 최초로 자율경영체제, 컨센서스 미팅, 전문경영인양성 프로그램등을 도입해 경영의 분권화와 전문화를 동시에 추구하였다. 세 번째 축인 LG의 경영이념은 그룹의 양적, 질적 성장에 상당한 영향을 미쳤다. 창업과 초기성장의 기반이 되어준 연구개발, 개척정신, 인화단결 정신은 사업선정부터 자원배분 등 기업 운영 전반에 주요한 행동의 기준으로 작용해왔다. 창업 이념의 영향력은 지속되었으나 2세대를 거치며 소비자 중심의 경영과 혁신을 추구하기 위해 고객중심의 가치창조와 인간존중경영으로 경영이념이 수정되었으며 3세대의 승계를 거치며 정도경영과 일등 LG가 추가되며 이때 LG Way라는 이름으로 성문화되었다. 연구 결과 소유구조, 경영의 전문화, 경영이념은 서로의 효과를 강화하며 공진화했으며 소규모 가족기업이 세계적인 기업집단으로 발전하는데 긍정적인 영향을 끼쳤다. We examine how LG which began as a small family company called the Rakhee Chemical Works has evolved as a family business group including leading global players in home appliance, display, and battery businesses along three pillars such as ownership structure, professionalization, and management ideology. First, during its early days, LG relied on family members for human and financial resources. As such, as the volume and size of the business expanded, did so the number of family managers and family investors. However, when the third-generation chairperson Mr. Bon Moo Koo was in office, LG reduced the number of family investors and simplified ownership structure by spinning off part of its businesses to family members and by transforming itself into a holding company structure with operating subsidiaries. Second, although LG, like any other family firms, had no choice but to rely on family members for human resources in the early days, it has relentlessly invested in professionalizing its employees and implementing decentralized management system. Delegation of decision-making authority along with the availability of professionalized executives is key to the successful growth of LG over time. Third, LG’s management ideology, which reflected the philosophy of the founder and his family, has evolved following the changes in environmental and management needs, including norms and values of “people-oriented management, customer-value creation, ethical management, and No. 1 LG”. These three pillars in isolation and in combination have created the sources of firm-specific, group-specific, and family-specific competitive advantages that have played a critical role in converting a small family company into a large business group including leading multinational firms.

기업의 환경성과와 재무성과의 관계

박헌준(Hun-Joon Park),권인수(In-Su Kwon),신현한(Hyun-Han Shin),정지웅(Ji-Woong Chung),문형구 한국인사ㆍ조직학회 2004 한국인사ㆍ조직학회 발표논문집 Vol.- No.-

기업의 환경성과와 재무성과의 관계를 규명하려는 기존의 실증연구들은 연구방법상의 문제점과 환경성과 자료의 제약 등으로 인해 명확한 결론을 얻지 못해 왔다. 본 연구는 일관된 환경투자를 하는 기업들의 재무성과가 더 좋다는 점을 입증함으로써 기존연구들올 보완하고자 하였다. 경제정의실천연합 산하 경제정의연구소의 자료를 사용하여, 본 연구는 167개 기업의 환경성과와 재무성간의 관계를 분석하였다. 그 결과, 첫째, 일관된 환경성과는 환경성과 평가기간 이후의 재무성과에 영향을 미치는 것을 확인하였다. 또한 환경성과는 환경성과 평가기간 이전 시기의 재무성과에 의해 영향 받지 않는 것을 확인하였다. 둘째, 환경성과는 환경성과 평가기간 이전과 이후의 재무성과 변화와 연관이 있음을 확인하였다. 이러한 연구결과는 기업들의 일관된 환경성과에 대한 투자는 경제적 보상이 뒤따르고 있음을 말해주며, 또한 재무성과가 좋은 기업이라고 해서 반드시 적극적인 환경투자를 하는 것은 아니라는 것을 말해준다. Previous empirical studies that attempt to relate environmental performance(EP) to financial performance have often led to conflicting results due to methodological problems and inaccurate data source of environmental performance. This paper complements these studies by showing that firms consistently investing in environmental initiatives are able to gain superior financial outcomes. Using data drawn from the Korea Economic Justice Institute(KEJI), we undertake an analysis of the relationship between the environmental performance of 167 Korean firms and their financial performance. We have found that consistent environmental performance has impact on post-EP financial performance. We have also found that the former is not affected by pre-EP financial performance. The results also show that environmental performance is associated with the changes in financial performance before- and after-EP. Overall, these findings imply that it does indeed pay to invest in environmental initiatives, but better financial performance does not necessarily result in proactive environmental initiatives.

기업평판과 재무성과의 관계

박헌준(Hun-Joon Park),신현한(Hyun-Han Shin),권인수(In-Su Kwon),정지웅(Ji-Woong Chung) 한국인사ㆍ조직학회 2004 인사조직연구 Vol.12 No.3

본 연구는 기업평판과 재무성과의 관계에 대하여 첫째 과연 좋은 평판을 가진 기업들이 그렇지 못한 기업보다 차기의 재무성과가 더 좋은지, 둘째 평판은 수익성의 지속성을 통제하고 나서도 차기의 재무성과에 영향을 미치는지에 대한 실증분석 결과를 제시한다. 또한 평판에 대한 전기의 재무성과의 효과를 제거한 후 기업의 재무적인 성과에 의해 설명되지 않는 평판(비재무적 평판)이 차기의 재무성과에 영향을 미치는지를 추가적으로 분석한다. 기업평판에 관한 한국능률협회컨설팅의 조사 자료를 이용하고 기업의 재무성과를 총영업이익수익률(ROA)와 토빈의Q를 이용하여 분석한 결과, 첫째, 상대적 평판이 좋은 기업들이 재무성과가 더 좋은 것으로 나타났다. 둘째, 수익의 지속성을 통제하고 나서도 여전히 평판은 재무성과에 긍정적인 영향을 미치는 것으로 나타났다. 그리고 비재무적인 평판 역시 차기의 재무성과에 정(+)의 영향을 미치는 것으로 나타났다. 이러한 연구결과들은 무형자산인 기업평판이 재무성과에 영향을 미친다는 기존연구들의 주장을 뒷받침하는 것이다. This paper investigates a relation between corporate reputation and financial performance. First, we examine whether firms with good reputation outperform firms with poor reputation. Second, we examine the effect of reputation on the performance after controlling for the persistency of firms' profitability. Using the corporate reputation data from Korea Management Association Consulting, we find that the effect of corporate reputation on financial performance is positive and statistically significant. Further, we find that the effect of corporate reputation on financial performance is significant even after controlling for the persistency of corporate financial performance. Finally, decomposing the reputation into two components: one that is explainable by the firms' previous financial or operational performances, financial reputation, and the other residual reputation following Roberts and Dowling(2002), Brown and Perry(1994)'s method, we find that residual reputation have a statistically significant effects on the future performance. These findings, first, clarify the causal relationship between firms' reputation and their performance and, second, suggest that good corporate reputation could be intangible assets of a firm.