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Structural Features and Mechanisms of The Korean Powerhouses: What Makes These Niche Companies Leaders in The Global Market?

Author

Listed:
  • WooJin KIM

    (Graduate School of Economics, Kyoto University, Japan.)

Abstract

This study explores the structural features and mechanisms that allow relatively small Korean companies to secure dominant market positions in their respective business sectors. By examining five specific aspects of their operations (financing structure, financial structure, growth structure, R&D activities, and business structure), the source of these companies unique success is better understood. Ultimately, our findings show that when these five aspects work together as a single and highly efficient machine, these Korean powerhouses are able to secure and maintain dominant market positions in the global market. Further, we extend the concept of Korean hidden champions based on the various results of our analysis to propose six criteria useful to redefining them as Korean powerhouses.

Suggested Citation

  • WooJin KIM, 2016. "Structural Features and Mechanisms of The Korean Powerhouses: What Makes These Niche Companies Leaders in The Global Market?," Journal of Economics and Political Economy, EconSciences Journals, vol. 3(2), pages 284-308, June.
    • Handle: RePEc:cvv:journ1:v:3:y:2016:i:2:p:284-308
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    References listed on IDEAS

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    1. Venohr, Bernd & Meyer, Klaus E., 2007. "The German miracle keeps running: How Germany's hidden champions stay ahead in the global economy," Working Papers 30, Berlin School of Economics and Law, Institute of Management Berlin (IMB).
    2. Voudouris, Irini & Lioukas, Spyros & Makridakis, Spyros & Spanos, Yiannis, 2000. "Greek hidden champions:: lessons from small, little-known firms in Greece," European Management Journal, Elsevier, vol. 18(6), pages 663-674, December.
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    JEL classification:

    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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