South Korean Capitalism: Formation of Institutional Comparative Advantage
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26482789%3A_____%2F21%3A10152232" target="_blank" >RIV/26482789:_____/21:10152232 - isvavai.cz</a>
Result on the web
<a href="https://www.mup.cz/data/files/IFRS2021-sbornik.pdf" target="_blank" >https://www.mup.cz/data/files/IFRS2021-sbornik.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
South Korean Capitalism: Formation of Institutional Comparative Advantage
Original language description
The 9th International Scientific Conference IFRS: Global Rules and Local Use - Beyond the Numbers October 7-8, 2021, Prague 160 SOUTH KOREAN CAPITALISM: FORMATION OF INSTITUTIONAL COMPARATIVE ADVANTAGE Martina ŠÍPKOVÁ Metropolitan University Prague, Czech Republic martina.sipkova@mup.cz Abstract The purpose of this article is to investigate South Korean capitalism from the viewpoint of formation of South Korea's institutional comparative advantage. Specifically, by the use of the varieties of capitalism (henceforth VOC) model, the article examines the following: 1) key coordination mechanism in the five spheres of Korea's political economy, namely corporate governance, vocational education and training, industrial relations, inter-firm relations, and companies' internal structures including the relationship with employees, 2) the existence of institutional complementarities, 3) innovation and other strategies of Korean companies as a product of the mentioned coordination mechanisms and institutional complementarities. The findings suggest that South Korea is a special type of a coordinated market economy with particularistic ties as the key coordination mechanism, combined with market mechanisms in specific cases, such as the relationships with competitors or the case of companies with significant portion of foreign capital. The article also finds that due to specific socio-cultural features, Korean large-size companies are able to compete in radically innovative industries, a pattern not fully typical for coordinated market economies.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50701 - Cultural and economic geography
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
The 9th International Scientific Conference IFRS: Global Rules and Local Use – Beyond the Numbers
ISBN
978-80-7638-027-1
ISSN
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e-ISSN
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Number of pages
10
Pages from-to
160-169
Publisher name
Metropolitan University Prague, Prague & Anglo-American University, Prague,
Place of publication
Praha
Event location
Praha
Event date
Oct 7, 2021
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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