South Korean Capitalism: Formation of Institutional Comparative Advantage
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
South Korean Capitalism: Formation of Institutional Comparative Advantage
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
South Korean Capitalism: Formation of Institutional Comparative Advantage
Popis výsledku anglicky
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.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
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OECD FORD obor
50701 - Cultural and economic geography
Návaznosti výsledku
Projekt
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Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2021
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
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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Počet stran výsledku
10
Strana od-do
160-169
Název nakladatele
Metropolitan University Prague, Prague & Anglo-American University, Prague,
Místo vydání
Praha
Místo konání akce
Praha
Datum konání akce
7. 10. 2021
Typ akce podle státní příslušnosti
WRD - Celosvětová akce
Kód UT WoS článku
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