An Exploration of Korean Advertising Agencies After Integration...

Hyun-Jae Yu | PhD Assistant Professor School of Communication Sogang University

An Exploration of Korean Advertising Agencies After Integration into Global Communication Groups

1)　　　　　　

Abstract

Although Mergers and Acquisitions (MampAs) have long been standard practice in

the advertising industry there has been a dramatic increase in their occurrence

both in the United States and internationally in recent years Korea the seventh

largest advertising market has not been excluded from this global MampA trend

While much research has focused on MampAs from the perspective of

organizations not much emphasis has been given to the human side of MampAs

even though it is thought to be important for the success of the newly merged

unit

This study focuses on the attitudes and perceptions of possible changes in work

culture and tasks by professional employees from four Korean advertising

agencies recently acquired by global groups A total of 96 surveys were

completed by professional employees from three departments (Account

Management Creative Media) Comparisons are made between professionals

from different departments different agencies and the number of years at an

agency In the results it was found that many employees have been stressful

regarding their English skill and newly initiated some efforts to improve their

유현재는 서강대학교 신문방송학과 조교수이며 헬스커뮤니케이션 캠페인 광고 캠페인 커뮤니케이션 조사방법론 등을 강의

하고 있다 미국 조지아대학교에서 헬스커뮤니케이션과 광고전공으로 석사 및 박사 학위를 취득하였다 10편의 논문이 985172The

Journal of Advertising985173 등 국제저널에 게재되었으며 국제 커뮤니케이션 학회(ICA) 미국광고학회(AAA) 등의 국제 학술대회

에서 헬스커뮤니케이션과 광고 수용자 효과 등을 주제로 약 50편의 논문을 발표하였다 유학 전에는 금강기획과 제일기획에

서 7년 동안 카피라이터로 근무하였으며 현대자동차 아반떼 lsquo한번 기름넣고 서울부산 왕복rsquo 캠페인 KT 메가패스 lsquo유쾌상쾌

통쾌rsquo 캠페인 등을 제작한 바 있다(e-mail bus89sogangackr)

광고PR실학연구 2011 4(1) pp 7sim35

8 광고PR실학연구

English proficiency In addition most of the participants answered that their loyalty to the

companies has been comparatively decreased after the MampA Finally among diverse departments

Account managers have been taking advantage of the MampAs most for recruiting new clients who

generally expect that they could get some extra benefits from Global networks

key words mergers and acquisitions advertising agency

An Exploration of Korean Advertising Agencies After Integration into Global Communication Groups 9

Conglomeration is a significant ongoing

trend in the global advertising industry

According to a report from Advertising

Age(May 2 2005) only a handful of commu-

nication groups dominate the advertising in-

dustry(Omnicom Group WPP Interpublic

Group of Cos Publicis Groupe) The com-

bined revenue of the ldquoBig Fourrdquo contributed

57 4($643 billion) to the revenue of agency

and media activities in the United States and

this rate is increasing Membership in such

conglomerates has also expanded worldwide

For example approximately 60 of WPPs

billings come from countries outside the US

(Advertising Age 2005) Although mergers

and acquisitions(MampAs hereafter) in the ad-

vertising industry have been going on since

the 1950s(Johnson amp Simon 1969) they have

been particularly prevalent in recent years

(Advertising Age 2003 Jung 2004 Wentz

2000) Many of the advertisingPR agencies

across the world have been integrated into a few

major global communication groups(Hennink-

Kaminski 2005 Nachum amp Rolle 1999)

Korea the seventh largest advertising mar-

ket in the world(Ad Times 2004) with annual

billings of about $6 billion in 2003(KOBACO

2004) has not been excluded from the global

MampA trend(Asian Market Research News

2002) At least three of the top nine advertis-

ing agencies in Korea were acquired by one of

the top global communication groups over the

past three years(Korea Broadcasting Advertising

Corporation Report 2005 KOBACO here-

after) Therefore agencies owned by global

communication groups have become major

players in the Korean advertising market

According to KOBACOrsquos report(2005) ap-

proximately 60 of advertising in Korea is

conducted by one of those agencies

The majority of research on MampAs in the

advertising industry has focused on the de-

scription of market environments and the re-

sults of these mergers in terms of profit(eg

Ducoffe amp Smith 1993 1994 Johnson amp

Simon 1969 Nachum amp Rolle 1999) The

majority of studies have either analyzed the

changes in the structural features of the in-

dustry during this MampA era or evaluated spe-

cific MampA cases(Linnet et al 2000) The

study of the human aspects of MampAs has

been given less attention than other issues

common to M ampAs in most other industries as

well(Daniel amp Metcalf 2001 Vinten 1997

Cartwright amp Cooper 1990 Colleen 2002

Napier 2001 Gutknecht amp Keys 1993

Fairfield-Sohn et al 2002)

This exploratory study attempts to shed light

on the effects of acquisitions in Korean advertis-

ing agencies by global communication groups

from the perspective of employees An attempt

is made to identify changes after the acquis-

itions within the recently acquired Korean

agencies This study was conducted using a

survey among employees in four agencies ac-

quired between 2003 and 2004 Due to an

agreement with the four agencies the names of

the agencies will not be reported in this study


Literature Review

MampA drive across the world and the Korean

Advertising Industry

Even though the MampA issue has been dis-

cussed for a long time(eg Bernstein 1979

Johnson amp Simon 1969) the frequency of

MampAs in the advertising industry has sky-

rocketed in recent years(Euroweek 2000

Advertising Age 2003) As a result only a

few big communication groups have come to

dominate the advertising industry Omnicom

the worldrsquos biggest advertising group as of

2005 alone owns three of the biggest ad

agencies in the US BBDO DDB and

TBWA WPP the worldrsquos second biggest ad

group bought 50 companies in 2001 alone

and Grey Global Group was also bought by

WPP for $152 billion in 2005

The big wave of MampAs has reached

Korearsquos advertising industry Foreign agen-

cies were a presence in the Korean advertis-

ing industry long before the recent wave of

MampAs However they were mainly joint ven-

tures with Korean agencies or just branches

of foreign agencies And it was the domestic

agencies who dominated the market(Jeong et

al 2002) According to a report by

KOBACO(2001) only three foreign agen-

cies(McCann Erickson Korea TBWA Korea

Hakuhodo Cheil) were ranked within the top

15 ad agencies in 2001 indicating that inter-

national agencies were not a major force in

the Korean Advertising industry Jeong et

al(2002) proposed two reasons for that

situation First there was the dominant pres-

ence of local in-house agencies Chaebols

big business groups having many sub-

sidiaries used to be the major force in the

Korean economy Chaebols owned a diverse

range of companies from cosmetics to cars

and ran many kinds of subsidiaries As one

subsidiary company among many in Chaebols

in-house agencies had a built-in client base

making it difficult for other agencies to

compete In that environment there were lim-

itations to fair competition between in-house

agencies and other agencies(Han 1998

KOBACO 2000) The biggest ad agency in

Korea is Cheil Communication a subsidiary

of the Samsung business group Its worldwide

gross income was $185 million in 2004 and it is

ranked 17th worldwide(Advertising Age 2005)

According to data from KOBACO(2000) four

ad agencies in the top five were in-house

agencies belonging to big business groups

This industry structure in which in-house

agencies play a prominent role has resulted

in foreign advertising agencies being rela-

tively minor players in Korearsquos advertising

market(Han 1998 Jeong et al 2002)

Another reason for the limited success of

foreign agencies in Korea is the countryrsquos

unique media buying system KOBACO

which formed following a political revolt in

1981 has the authority to sell all broadcasting


media time This means that there is no direct

buyingselling between stations and ad

agencies There were no regulations prohibit-

ing sales of space and time to non-Korean

agencies but most prime time slots are offered

to major in-house agencies first(Han 1998)

Due to this preferential treatment by KOBACO

foreign agencies met with ldquoinvisiblerdquo barriers

to their success

This long established structure has started to

change The collapse of numerous Chaebols

resulting from the economic crisis and re-

forms in Korea in the late 1990s is likely one

reason This forced the Chaebols to split into

many independent groups or at least lose the

power to control other subsidiaries(Jeong et

al 2002) The extent of that dominance of

in-house agencies has weakened(Han 1998

KOBACO 2000) There have been changes

not only in the agency rankings but also

changes in the client portfolios held by those

agencies Many previous subsidiaries changed

their advertising agencies from in-house to in-

dependent agencies(Advertising Information

2005) As a result many ad agencies have

been forced to compete without the advant-

age gained from being a subsidiary Under

this transitional atmosphere another big

change is the many MampA events with interna-

tional agencies The rush of global communi-

cation groups into Korea hoping to find busi-

ness opportunities in this transitional sit-

uation is a recent trend in the Korean adver-

tising industry(AD Times 2004)

Reasons for MampAs in the Advertising

Industry

MampAs have been used as a common growth

strategy for advertising agencies in the US

over the past three decades(Ducoffe amp Smith

1993 1994) At least in the first stages of

MampA both sides commonly indicate they are

highly satisfied and expect additional finan-

cial benefits from the action In the case of

WPP and Young amp Rubicam the largest ac-

quisition in advertising history both parties

said they were totally satisfied despite various

contradictory opinions expressed by oth-

ers(Linnett et al 2000) At a shareholder

meeting immediately following the union

Young and Rubicam CEO Tom Bell said that

ldquoOur proposed merger with WPP will put us

at the top of the heaprdquo(Advertising Age

2000)

　The positive attitude on both sides was ex-

pected to generate greater economic effi-

ciency especially through size effects(ie

the economies of scale and scope and other

synergies)(Peltier 2004) MampAs have long

been considered one of the fastest and safest

ways to grow in the advertising industry(eg

Bernstein 1979) Major motivations for MampAs

among advertising agencies are often com-

mon aims such as profit maximization risk

avoidance enrichment of senior manage-

ment or simply the desire to form huge cor-

porations(Ducoffe amp Smith 1993) One bene-

fit particularly relevant for cross border


MampAs is that there is little reason for the

agencies to worry about client conflicts be-

tween international agencies The issues of

client conflicts can be a concern for MampAs

among domestic agencies

Smaller agencies generally accept an ac-

quisition for one of the following reasons a

lack of capital to carry through essential improve-

ments a loss of important accounts a loss of top

personnel to ldquogreener pasturesrdquo or superior fi-

nancial capabilities on the part of competitive

agencies in gaining accounts(Advertising Age

Annual 1978 Ducoffee amp Smith 1993)

In the Korean advertising market the spe-

cific acquisition of LG AD by WPP utilized

different motivating factors between the two

sides(the acquiring party the global commu-

nication group and the acquired party a lo-

cal agency in another country) According to

Advertising Age(2002) WPP was motivated

by Korearsquos growth prospects and inter-

nationali-zation On the other hand LG AD

said they were interested in becoming part of

WPP because of the companyrsquos reputation

and possible opportunities for knowledge

transfer(Advertising Age 2003 Moon et al

2003) In addition to knowledge transfer the

acquired party expected that it would be sup-

ported by a global network for their clients to

conduct business internationally This opti-

mism regarding size effects is common to

merging and merged parties(Peltier 2004)

Another Korean ad agency that was acquired

by WPP DIAMOND AD also mentioned the

same potential benefit as the major reason for the

acquisition They listed all the branches of WPP

and various detailed information(revenue char-

acteristics of companies human resources) on

their website and indicated the advantages pro-

vided by WPPrsquos network would be highly bene-

ficial to their clients(wwwdiamondadcokr

accessed July 14 2005)

The positive association created by being a

member of a global group is another motivat-

ing factor for the acquired company Nachum

and Rolle(1999) indicated that the selection

of an ad agency by a potential client is strong-

ly influenced by who owns that agency They

suggested specific benefits that can be had

from ownership by a well-respected agency

size international experience longevity and

maturity Most of the attributes are potential

benefits if a domestic agency builds a part-

nership with a global communication group

(AD Times 2004) This concept is illustrated

by two Korean agenciesrsquo responses after their

acquisitions by a large multinational group

Even though the two companiesrsquo acquisitions

were part of a restructuring process of the

umbrella business group they publicized

their new ownership by a global group They

promoted the change of ownership as a

means of attracting new clients According to

Na and Marshall(2001) one of the most im-

portant evaluative criteria used by clients for

selecting an ad agency in Korea is marketing

capability Therefore it is highly possible that

some client companies desire their business


to be supported by agencies that have part-

nerships with world class marketing groups

Furthermore many companies that plan to

conduct overseas marketing may prefer to se-

lect an agency with access to global networks

Human side A Crucial Factor for Successful

MampAs

Research conducted on MampAs in a variety of

different industries found that they are more

likely to be unsuccessful than success-

ful(Lipponen et al 2004 Marks amp Mirvis

2001 Tetenbaum 1999) According to

Peltier(2004) approximately 60 percent of

MampAs have turned out to be a failure Even

though there may be many variables which

cause unwanted results researchers have

noted the lack of attention given to the hu-

man side of MampA as a cause(Buono amp

Bowditch 1989 Carey amp Ogden 2004 Calori

et al 1994 Davies 2004 Moon et al 2003)

Employeesrsquo perceptions and responses to-

wards MampAs may be one of the major factors

that allow MampAs to be successful(Carey amp

Ogden 2004) Employee issues such as psy-

chological combinations have been consid-

ered to be the last phase of MampA(Buono amp

Bowditch 1989) Although time consuming

this phase is very crucial to the long-term de-

velopment of the new organization

The human side of MampAs in advertising

agencies has not received much attention in

the literature Some studies have indicated

that practical changes employees may experi-

ence after the MampA such as employees in

larger agencies receiving more benefits than

the employees of smaller agencies in terms of

salary and the opportunity to work on

high-profile accounts(Sizing 1989) However

the specific changes in the employeesrsquo per-

ceptions toward work and the company have

scarcely been discussed McMellon(1990) re-

ported that there were examples of the de-

partures of major people in the creative de-

partment due to their perceptions of changes

resulting from the acquisition The loss of

creative freedom and the high involvement of

management in their work after an acquis-

ition created unexpected pressures for crea-

tive people Therefore how the employees

accept the change is a very important aspect

of MampAs(Bligh 2002 Lipponen et al 2004)

Depending on the changes in psychological

factors the company may lose key human

powers that are an asset of an advertising

agency The change in attitudes may result in

a decline in organizational commitment and

job satisfaction by some employees(Newman

amp Krzystofiak 1993 Schweiger amp Dinisi

1991) which can be linked to the final failure

of the MampA

In media management literature MampAs

have been compared to the sense of loss ex-

perienced following the death of a close

friend or relative(Schweiger et al 1987


Marks amp Mirvis 1986) From a personnel psy-

chological perspective the MampA is consid-

ered the potential source of employeesrsquo

distress Marks(2003) introduced the term

ldquomadnessrdquo which can emerge during the

process of MampAs The results of this initial

madness include fearfulness suspiciousness

and cynicism that develop in the workforce

This unstable emotional status has been con-

sidered to be a typical response of employees

after MampA events This can have an impact

on the productivity of the company

However not all MampAs create such emo-

tional turmoil in the employees The employ-

eesrsquo attitudes a crucial condition affecting the

results of MampAs vary greatly from case to

case(Fairfield-Sohn et al 2002) If the event

was conducted in a friendly rather than a

hostile manner employees will have less neg-

ative attitudes toward the new organization

Also the degree to which the expectations of

individual employees are met may result in

having difficult attitudes Other variables that

may result in different attitudes of employees

include time that has past since the MampA de-

gree of communication with employees and

the role of the Human Resource Management

Department(Fairfield-Sohn et al 2002)

Therefore even though an MampA is often con-

sidered a ldquotraumatic eventrdquo for employees

understanding the degree of their percep-

tions of changes in the general work culture

job functions the usage of foreign languages

and the relationship with clients can help

shed light on the likelihood of success of

such international advertising agency MampAs

Theoretical framework and Research

Questions

Organizational culture

Since the mid 1980s(eg Buono et al 1985

Marks amp Mirvis 1985) the organizational cul-

ture theory has been used as a theoretical

background for MampA issues It has been ap-

plied to several cases of MampAs across several

fields such as media industries and car com-

panies(eg Schraeder amp Self 2003) Even

though this theory has rarely been used in the

case of the advertising industry specifically

this theory has the power to explain a wide

variety of corporate problems and behav-

iors(Mierzjewska amp Hollifield 2005) Further-

more organizational culture theory is a via-

ble framework to use to explain international

acquisition the topic of this study

Organizational culture includes two con-

ceptualizations a) characteristics of the sub-

jective culture or the shared values and be-

liefs among organizational members and b)

characteristics of the objective culture or of-

fice locations physical setting and office

dcor(Buono et al 1985) Culture is defined

in media management literature as shared prac-


tices knowledge and values that can be trans-

mitted from experienced members to new-

comers through socialization in organizations

Culture in an organization is created by the

national culture in which the organization op-

erates the founders and their leadership and

the organizationrsquos operating environment(Ott

1989) Schein(1985) also pointed out that cul-

ture is a solution prepared by organizational

members to deal with external and internal

problems In a possibly stressful event such

as an acquisition employees may create an

unusual culture for situations with which they

have never dealt

Organizational culture also influences the

everyday operations of a company It shapes

a grouprsquos process material output and ability

to survive(Bantz et al 1997 Bloor amp

Dawson 1994 Mierzjewska amp Hollifield

2005) Therefore the core rationale of organ-

izational culture is that the culture established

in an organization is related to several aspects

of that organization such as determining pri-

orities influencing employeesrsquo behaviors

and even affecting outcomes(Martin amp Frost

1996) In this way an organizational culture

created among employees can have a sig-

nificant impact on a firmrsquos long-term econom-

ic performance which is a crucial factor in

deciding if the acquisition failed or suc-

ceeded(Kotter amp Heskett 1992) Specific to

the advertising industry the relationship of

advertising personnel and their clients is one

of the most important factors in client sat-

isfaction which strongly influences the agen-

cyrsquos success(Michell et al 1992 Wackman et

al 1987) The employees within an advertis-

ing agency are the reason why agencies re-

tain clients and obtain new ones Na and

Marshall(2001) indicated that one of the most

important factors for selecting an advertising

agency in Korea is the personnel of the

agency

Employeesrsquo perceptions of the overall

work culture as well as specific features re-

lated to their specific job tasks after an ac-

quisition may prove meaningful for the fu-

ture performance of that merged agency or

other agencies not yet merged The current

study is a micro-level exploration of MampAs

which looks at possible changes within ac-

quired agencies from the view of their re-

spective professional employees

In the survey employees were asked their

opinions about their general work culture in

the acquired advertising agencies after the

change of ownership The questions include

the issues of change of task flow new leader-

ship job performance relationship between

colleagues and use of a foreign language

which is the native language of the acquiring

company The first research question exam-

ines the employeesrsquo perceptions of change of

the general work culture after the acquisition

bull RQ1 What if any are the perceived changes in

the work culture within recently merged agencies


Employees accept change after MampAs dif-

ferently depending on their specific sit-

uation(Carey et al 2004) There are three

different grouping variables in the current

study used to examine differences in general

work culture The first variable is based on

major departments found in any advertising

agency Account management the Creative

department and the Media department The

second grouping variable is based on years of

employment and the third variable is based

on the specific advertising agency from

which the employee came The basic princi-

ple underlying the second research question

is the same as the first question However

the second research question is posed to illu-

minate the possible differences in work cul-

ture among the different grouping variables

bull RQ2 Are there any differences in the perceived

changes in the overall work culture among the

three departments employees with different years

of employment or different companies

According to Bloor and Dawson(1994) or-

ganizational culture often conflicts with the

professional sub-culture in an organization

Professional culture is a mental value capable

of uniting individuals of the same occupation

within an organization The three different

departments that are being analyzed in the

current study Account management the

Creative department and the Media depart-

ment each have their own professional cul-

ture it is highly possible that employees

working within these different departments

have faced different issues by conflicting with

the new culture in the company created after

the acquisition Diversity in detailed issues

may exist among these three different

departments In many cases organizational

culture is considered to impinge on pro-

fessional norms and the freedom of action by

professionals(Mierzjewska amp Hollifield 2005)

The new organizational culture created in a

company after an acquisition is an important

factor that may cause professionals in differ-

ent departments to feel uncomfortable in dif-

ferent ways Therefore the third research

question is raised

bull RQ3 After being acquired by a global

communication group have there been any

specific changes in terms of the work culture

within the Account Management Creative or

Media Departments

Method

Questionnaire Development

The questionnaire was developed based on a

review of the literature and three in-depth

interviews Three Korean PhD candidates


majoring in advertising in the U S were

recruited Each of the three participants pre-

viously had successful careers in a Korean ad

agency as professionals in one of three de-

partments (Account management Creative

department Media department) before be-

coming doctoral students The questionnaire

developed based on these interviews was

pre-tested with three professionals from a re-

cently acquired Korean ad agency Based on

the pretest some minor changes in the agree-

ment statements were made for clarification

Questionnaire structure

The final questionnaire for the survey is made

up of two parts Part I contains statements

common to all participants across the three

different departments and examines the

agreementdisagreement of the overall work-

ing culture before and after the acquisition(a

total of 23 statements) The statements are

about a) the perceptions of jobtask(meeting

time and style task load bureaucracy) b)

English(English usage pressure for improv-

ing skill support for English education) c)

international issues(intention to work abroad

participation in Ad festival and conference)

d) perception of the agency(being positive

about the agencyrsquos future pride as an em-

ployee) and e) the attitudes toward the ac-

quiring group(utilizing the manual for task

interest in their business relationship with

managers from head office) Also partic-

ipants were asked to answer an extra

open-ended question following part one and

part two of the questionnaires about the com-

parisons of the work culture each participant

may have experienced before and after the

acquisition Only a very few responses were

received to the open-ended questions(less

than 10)

The statements in Part II deal with the is-

sues related to specific departments(Account

Management department 14 statements

Creative department 14 Media department

15) The statements cover comprehensive is-

sues that may have been experienced by the

employees in the three different departments

before and after the acquisitions The ques-

tionnaire was originally written in English

and translated into Korean by one of the bi-

lingual authors

The statements in Part II are different de-

pending on the department of the participant

For creatives(Creative director Copywriter

Graphic Designer Producer) the statements

ranged in topic from the increasing interest in

submitting creative products to international

Ad Festivals such as CLIO and Cannes to

changes in creative strategy Statements

about the role of the creative director and in-

centives for a successful campaign were also

given to creatives in the acquired agencies

For the Account Management department

the statements focus more on the manage-


ment of clients and the building of advertis-

ing strategy The statements are about a) pos-

sible changes in the clientsrsquo portfolio(increas-

ing domestic or international clients clientsrsquo

expectation and satisfaction official pre-

sentation before clients in English) b) build-

ing advertising strategy(using the strategy

manual of the global group conducting the

task based more on scientific data) and c)

the benefits of the acquisition from the per-

spective of the client management(helpful for

getting new clients beneficial to manage

present clients) To the media department

three types of statements are given a) media

strategy(media planning procedures usage

of the media planning manual from the glob-

al group request of more scientific data from

clients using media planning software) b)

new media environment(consideration of

non-traditional media more emphasis on me-

dia planning than media buying) and c) the

relationships with other departments(con-sider-

ation of strategy or creative concept for build-

ing media strategy meeting with creatives or

account management team) All statements in

Part I(General working culture) and Part

II(Specific department-related tasks) were an-

swered by indicating agreementdisagree-

ment on a 5-point scale based upon each

participantrsquos degree of agreement with a 1

indicating ldquostrongly disagreerdquo and a 5 indicat-

ing ldquostrongly agreerdquo The number 6 was avail-

able for participants who either had no opin-

ion about the statement or when they felt the

statement was not clearly linked to the

changes originated from the acquisition On

the last page of the questionnaire all partic-

ipants were asked about their personal in-

formation including which agency or depart-

ment they are in specific title of their posi-

tions years at the agency and the total num-

ber of years working in the advertising

industry

Sampling and Survey Procedure

The authors established criteria for selecting

agencies and participants First the agencies

for the sample must have been acquired by a

global group after January 2003 This was

done in order to gain quality data from vivid

memories of the employees Second the

qualification for being a participant was lim-

ited to people who had at least three years of

work experience in the agency so they could

compare the situations before and after the

acquisition The authors originally contacted

five agencies to gain permission for data col-

lection one agency refused involvement

Arrangements for the survey were conducted

via the assistance of a manager in the human

resources department of each agency One of

the authors worked with the manager to re-

cruit professional participants and conduct

the survey After recruits were identified a

bilingual author passed out a questionnaire


No (명수) (비율)

광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive

(Account Management)

41 427

Account Planner 36 375

Copywriter 19 198

Account Executive


37 42

Position Account Planner 4 146

Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100

Table 1 설문조사 참여인원의 특징

to each participant after confirming that he or

she had at least three years of work experi-

ence in the agency If the employee agreed

to be a participant then the author ad-

ministered the directions and left the survey

with the employee The author allowed one

day for participants to fill out the

questionnaire The next day the author vis-

ited the company again and gathered the sur-

veys from the participants

A total of 118 advertising agency pro-

fessionals were contacted and asked to par-

ticipate in the study Six professionals who

were contacted were not given ques-

tionnaires because they had other meetings

scheduled and did not have time to respond

There were 112 questionnaires distributed in

four different Korean advertising agencies

Sixteen questionnaires were not returned ei-

ther because the respondent lost it or he or

she did not complete it A total of 96 ques-

tionnaires were completed by advertising

professionals for a response rate of 814

and an adjusted response rate of 857 The

response rate across agencies ranged from

733 to 925 Participation resulted in 47

participants from Agency A 25 participants

from Agency B 13 participants from Agency

C and 11 participants from Agency D

Regarding specific departments of partic-

ipants 427 were in the Account

Management department 375 were in the

Creative department and 198 were in the

Media PlanningBuying department Half of

the respondents had worked at their agency

eight to fifteen years Approximately one in

five had been with their agency four to seven

years About three out of ten respondents

were with their agency 16 or more years

Table 1 presents a profile of the respondents


Mean Std Statements

English rewarded 438 785 hellip a sense that better English skills will be rewarded

English classes paid 409 105 hellip agency will pay for the cost of going to English classes

English skills pressure 404 939 hellip more pressure from the agency regarding English proficiency

International Interest 364 908 hellip more interest in news about global advertising industry

Learning English 356 868 hellipmore colleagues studying English

English usage 351 101 hellipmore use of English at the office

Non-Korean interaction 350 117 hellip more interaction with non-Korean people

Task time 327 946 hellipmore time required to complete daily tasks

Scientific tasks 319 874 hellip tasks have become more ldquoscientificrdquo

Global information 314 816 helliphave knowledge about the other subsidiaries

Global manager 308 126 hellipnew managerial staff from the global communication group hired

Competitive atmosphere 305 922 hellip more competitive atmosphere among colleagues

Meetings increased 303 852 hellipnumber of meetings has increased

Teamworkmore important 295 851 hellipteamwork more important than individual capability

Global pride 295 103 hellip pride in being a member of a global communication group

Relaxed atmosphere 294 904 hellip more relaxed atmosphere createdhellipGlobal corp interest 293 105 hellip more interest among employees about the international branch

offices of our company

Bureaucracy 290 912 helliplevels of bureaucracy have increased

Company pride 289 857 hellip proud of being an employee of this company

Global material 288 105 hellip use a manual or guide from the global communication group

Meeting efficiency 282 103 hellipmeetings are conducted in a more efficient way

Positive Company Future 271 857 hellip more positive about the future of our company

International participation 254 100 hellip more opportunities to participate in

international events

Base＝96

5 point scale where 5＝Strongly agree and 1＝Strongly disagree

Table 2 Mean Level of Agreement on Statements Regarding Changes Since Agency Acquisition (All Departments)

General work culture

Research question 1 asks what changes if

any are perceived in the overall working cul-

ture by the agency professionals Several

changes were reported by respondents On

the 5-point scales (ranging from 1=strongly

disagree to 5＝strongly agree) 8 of the 23

statements received a mean rating above 32

as shown in Table 2 Of these top-rated state-

ments it is interesting to note that five of

them deal with English usage and profi-

ciency English being the first and official lan-

guage of three of the acquiring companies


Respondents tended to agree that that these

were more likely to be the case since the

merger ldquoEnglish skills will be rewardedrdquo

(Mean＝438) ldquoagency pays for English

classesrdquo(Mean＝409) ldquomore pressures from

the agency regarding English skillsrdquo(Mean＝

404) ldquomore interest in news about global ad-

vertising industryrdquo(Mean＝364) ldquomore col-

leagues studying Englishrdquo(Mean＝356) ldquouse

of English around the office has in-

creasedrdquo(Mean＝351) ldquoamount of inter-

action with non-Korean people has in-

creasedrdquo(Mean＝350) and ldquomore time re-

quired to complete daily tasksrdquo(Mean＝327)

None of the 23 statement received a rating

of 25 or below on the 5-point agreement

scale The statements that participants tended

to disagree with were ldquomore opportunities to

participate in the international advertising

events(advertising festivals conferences

workshops)rdquo(Mean＝254) ldquomore positive

about the companyrsquos futurerdquo(Mean＝271)

ldquomeetings are conducted in a more efficient

wayrdquo(Mean＝282) ldquouse manual or guide

from the global communication group for

conducting tasksrdquo(Mean＝288) and ldquoproud

of being an employee of this companyrdquo(Mean

＝289)

In an attempt to produce factor structures

of related statements and find underlying pat-

terns in the data factor analysis was per-

formed on the mean ratings of the 23 state-

ments(Table 3) Using a promax rotation

eight factors with eigenvalues greater than 1

were identified These eight factors ex-

plained 70 of the variance Cronbachrsquos al-

pha reliability tests on the factors revealed

that six of the factors had a reliabiltity below

70 Despite eight factors having eigenvalues

greater than 1 a scree test indicated that only

two factors should be extracted Therefore

the factor analysis results were excluded from

further analysis

Differences by Department Work Years and

Agency

Research question 2 asks if there are differ-

ences in perceptions of changes in work cul-

ture between agency departments by num-

ber of years working at the agency and by

the specific agency in which the respondent

worked ANOVAs were run on the mean

agreement ratings for the 23 statements by

each of the dependent variables(department

work years and agency) Post hoc

Bonferroni testing was used to identify differ-

ences between specific pairs of means

Department Three statements had sig-

nificantly different ratings by department(p

＜05) As shown in Table 3 post hoc testing

found that the respondents from Media de-

partments were significantly more likely to

agree that there now were ldquomore colleagues

are studying Englishrdquo and ldquoa more relaxed at-

mosphere existsrdquo than those in Creative


Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements

Learning English 351 339 400 3359 05 hellipmore colleagues studying English

Meetings increased 295 331 268 3843 05 hellipnumber of meetings has increased

Relaxed atmosphere 305 264 326 3708 05 hellip more relaxed atmosphere createdhellipYears in the Ad Agency

4-7

years

8-15

years

16 or

more years

F Sign Statements

English rewarded 452 417 463 3688 05 hellip a sense that better English skills will be

rewarded

Scientific tasks 338 296 344 3504 05 hellip tasks have become more ldquoscientificrdquo

Company pride 329 263 304 5387 01 hellip proud of being an employee of this

company

International

participation

305 244 233 3703 05 hellip more opportunities to participate in


indicate that pairs of means are significantly different at plt05 as determined by a Post Hoc Bonferroni test

Table 3 ANOVAs of Mean Scores on Statements Regarding Change Since Agency Acquisition by Department and Years in

current Ad Agency

departments The Media department pro-

fessionals were more likely to disagree than

professionals in the Creative department that

ldquothe number of meetings has increasedrdquo

Years in Agenc Four statements had sig-

nificantly different agreement ratings(p＜05)

by the number of years respondents had

worked at the agency Post hoc testing in-

dicated that agreement was higher for ldquobetter

English skills rewardedrdquo among those with

8-15 years at the agency versus those with 16

years or more Those with four to seven years

of experience at an agency on the average

agreed more strongly that they felt more

ldquopride in being a member of a global commu-

nication grouprdquo than those with eight to fif-

teen years at an agency and ldquomore oppor-

tunities to participate in international eventsrdquo

than those with 16 or more years of experi-

ence at an agency Professionals newer to the

agency may be more willing to focus on the

positive aspects of the merger than those

who have been at the agency longer While

there was a significant difference in the over-

all mean comparisons for ldquotasks have become

more scientificrdquo this difference could not be

attributed to an specific pairs of means(See

Table 3)

Agency The greatest number of sig-


Mean Std Statements

Domestic clients 383 892 hellipdomestic clients for foreign markets has increased

Questions from Clients 366 990 hellipclients more frequently asked about the relationship with the acquiring group

Recruiting new Clients 356 709 hellipbeing a member of the group has been helpful for recruiting new clients

Administrative tasks 344 109 hellipwork not related to the core work of account management has increased

Present client management 341 670 hellipbeing a member of the group has been helpful in managing incumbent clients

Data based tasks 324 888 hellipfor advertising strategy relied more on research and proven data

Global guides 322 108 hellipmore usage of strategy manuals or guidebooks from the global group

Smaller teams 320 901 helliptasks are being conducted by fewer personnel than before

Preparation for meetings 320 928 hellipmore preparation for meetings with creative department

International clients 317 892 hellipinternational clients for the domestic market have increased

Agency structure 300 837 hellipagency structure has become more horizontal not hierarchical

More English 290 126 hellipmore usage of English in materialsmeetings with colleagues

Presentations in English 290 122 hellipmore opportunities for doing presentations in English

Incentives 261 972 hellipincentives to succeed have increased

Base＝41


Table 4 Mean Level of Agreement on Statements Regarding Specific Changes in the jobs since Agency Acquisition(Account

Management)

nificant differences was found by the specific

agency in which the respondent worked

ANOVA tests found differences for 10 of the

23 statements Significant differences(p＜05)

were found on ldquomore colleagues studying

Englishrdquo ldquouse of English at the office has in-

creasedrdquo ldquomore interaction with non-Korean

peoplerdquo ldquomore time required to complete

daily tasksrdquo ldquotasks have become more scien-

tificrdquo ldquohave more knowledge about other

subsidiariesrdquo ldquonew manager from the global

communication group hiredrdquo ldquopride in being

a member of a global communication grouprdquo

ldquomore interest among employees about the

international branch offices of our companyrdquo

and ldquouse manual or guide from the global

communication grouprdquo The differences be-

tween specific pairs of agencies will not be

further identified as participating agencies

were promised confidentiality However the

items dealing with a greater need for English

skills were given higher levels of agreement

by respondents whose agency had been ac-

quired by an English speaking parent

company


Specific job related issues

Research questions 3 addresses the possible

changes related to the work situations of each

department The statements from the second

part of the questionnaire dealt with depart-

ment-oriented issues

Account Management Department Seven

of the fourteen account management-specific

statements had mean agreement levels above

32 As shown in Table 4 these statements

were ldquonumber of domestic clients for foreign

markets has increasedrdquo(Mean＝383) ldquoclients

have more frequently asked about the acquir-

ing group or relationship between the group

and our companyrdquo(Mean＝366) ldquobeing a

member of the larger parent company has

been helpful in building relationships with

new clientsrdquo(Mean＝356) ldquowork not related

to the core work of account management has

increasedrdquo(Mean＝344) ldquobeing a member of

the larger group has been helpful in manag-

ing incumbent clientsrdquo (Mean＝341) ldquofor ad-

vertising strategy have relied more on re-

search and proven datardquo(Mean＝324) and

ldquothere is more usage of strategy manuals or

guidebooks from the global grouprdquo(Mean＝

322) Account Management professionals

are likely in the best position to see that at

least some of their clients are looking for the

advantages of belonging to a global agency

Account Management professionals are also

reporting that they are more likely to rely on

research and use materials from the global

parent

Three of the statements had mean ratings

of 29 or below suggesting that on average

there was more disagreement with these

statements than agreement Respondents

tended to disagree that ldquothere is more usage

of English in materialsmeetings with col-

leaguesrdquo(Mean＝290) ldquothere are more op-

portunities for doing presentations in

Englishrdquo(Mean＝290) and ldquoincentives to

succeed have increasedrdquo(Mean＝259)

While they indicated that more employees

seem to be trying to learn English it seems as

though most of these professionals do not yet

need English to complete their daily tasks

Creative Department One half of the 14

statements specific to the Creative Department

received a mean rating above 32 indicating

the tendency of respondents to agree with

these statements These seven statements in-

clude ldquomore interest in international trends

in advertising creativityrdquo(Mean＝353) ldquomore

foreign clients for the domestic marketrdquo(Mean

＝347) ldquocreativity is becoming more im-

portantrdquo(Mean＝342) ldquoCreative directors

play a more important rolerdquo(Mean＝336)

ldquoincreased submissions to international ad-

vertising festivalsrdquo(Mean＝336) ldquomore use

of books videos etc from other countries

as creative referencesrdquo(Mean＝331) and

ldquomore opportunities to do presentations in

Englishrdquo(Mean＝331) Agency creatives seem


Mean Std Statements

International Creativity 353 845 hellip more interest in international creativity

International Clients 347 102 hellip more foreign clients for the domestic market

Creativity oriented 342 113 hellipcreativity has become more important

Creative directorrsquos Role 336 990 hellipcreative directorsrsquo role has become more important than before

Submission to AD festival 336 115 hellipmore submissions to ad festivals (LondonNewYorkCLIOetc)

International references 331 889 hellip more use of the books videos from other countries as references

Presentation in English 331 114 hellip more presentations in English

Smaller teams 303 108 hellipsmaller teams are for each assignment

Use English in ads 297 110 hellip greater need to use English in making ad(copy visual factors etc)

Domestic Clients 294 955 hellip more domestic clients for the international markets

Work abroad 292 113 hellip greater opportunities to work another branchessubsidiaries in another country

Strategy focused 286 867 hellipstrategy more important(marketing analysis priority of research)

Clientsrsquo international interest 278 989 hellipmore questions about international ad trends (creativity) from clients

Efficient meetings 236 990 helliptime used for creative meetings has become shorter

Base＝41


Table 5 Mean Level of Agreement on Statements Regarding Specific Changes in the jobs since Agency Acquisition (Creative

Department)

to be experiencing an increased emphasis on

creativity and perhaps more pressure to pro-

vide top-notch creative work(See Table 5)

Three of the statements for the Creative

Department had mean agreement scores of

less than 290 The statements that re-

spondents were more likely to disagree with

were ldquostrategy has become more important

in the jobrdquo(Mean＝286) ldquothere are more

questions about international creative trends

by clientsrdquo(Mean＝278) and ldquothe amount of

time used for creative meetings is short-

errdquo(Mean＝236)

Media PlanningBuying Among the state-

ments for the Media department ldquoincreased

use of media planning softwarerdquo and ldquothere is

more focus on marketing analysis when

building media plansrdquo were the highest on

agreement(Mean＝40) In all 11 of the 15

statements specific to the media department

receivedmean agreement ratings over 32

Other statements receiving agreement were

ldquoincreased requests from clients to provide a

more developed media planrdquo(Mean＝389)

ldquomore requests from clients to provide a more

developed media planrdquo(Mean＝384) ldquomore

time for media planningrdquo(Mean＝384)

ldquomore presentations about media planning to


Mean Std Statements

Media planning software 400 577 hellip more usage of media planning software

Marketing analysis 400 745 hellip more focus on marketing analysis for media plans

Clientsrsquo requests 389 994 hellip increased requests from clients to provide a more developed media plan

Data based planning 384 834 hellip more requests for scientific data in building media plans

Media planning oriented 384 834 hellipmore time for media planning

Presentations to client 379 103 hellip more presentations about media planning to the client

New media options 379 113 hellipmore requests for non-traditional media

Importance of media planning 358 107 hellip media planning has become more important than media buying

Smaller teams 353 964 hellip tasks are being conducted by fewer personnel than before

English in tasks 342 117 hellip English in materials or meetings has increased

Cooperation with other teams 332 105 hellip more relationships with other departments in the agency

Strategic involvement 295 911 hellip more involvement in building advertising strategy managing clients

Manuals from the global group 274 132 hellip using manuals for media plan from the acquiring group

Creative strategy 268 105 hellip more involvement in creating advertisements

Manuals from other agencies 268 137 hellipusing manuals for media planning from other international ad agencies

Base＝19


Table 6 Mean Level of Agreement on Statements Regarding Specific Changes in the jobs since Agency Acquisition (Media

Department)

the clientrdquo(Mean＝379) ldquomore requests for

non-traditional mediardquo(Mean＝379) ldquomedia

planning becoming more important than me-

dia buyingrdquo(Mean＝358) ldquotasks are being

conducted by fewer personnel than be-

forerdquo(Mean＝353) ldquoEnglish in materials or

meetings has increasedrdquo(Mean＝342) and

ldquomore relationships with other departments

in the agencyrdquo(Mean＝332) Agency Media

professionals seem to be indicating that there

is an increase in the sophistication of the me-

dia planning process in their agency Media

department professionals tended to disagree

that they ldquoused manuals from the global

grouprdquo(Mean＝274) or from other advertis-

ing agencies(Mean＝268) They also dis-

agreed that they had ldquomore involvement in

creating advertisementsrdquo(Mean＝268) (See

Table 6)

Discussion

The most obvious change found among par-

ticipants in the acquired agencies since the

MampA was in perception about the use and ne-

cessity of English Even though the desire to


be familiar with English has been generally

prevalent among Korean people for a long

time(Dong-A Daily 2005) the result con-

firmed that many employees have began to

think seriously about improving their English

skills after the acquisition by the global com-

munication group Based upon the mean

scores of statements related to English we

concluded that language is one of the most

important issues to Korean agency pro-

fessionals in the international MampA of adver-

tising agencies if the global parent company

is from an English speaking country It may

be that English proficiency is perceived as a

way to advance in the agency by the employ-

ees even though these skills may not be nec-

essary for a personrsquos current position and

tasks

The importance of English has been em-

phasized not only in the companies with

business relationships in the global company

but also in other aspects of Korean society for

a long time The ability to speak and write

English has been one of the critical qual-

ifications for being successful in Korean

schools and the job market(Hong 2000 Heo

2004) According to a recent report(Korea

Broadcasting Station 2003) more than 90 of

companies in Korea require English profi-

ciency of all new hires

As suggested by the results English may

not yet be used by most professionals for ma-

jor tasks(building advertising strategy pre-

sentation before clients and creating adver-

tisements) even though they consider

English to be crucial in their future life in the

agency There are a few possible reasons for

this perception of English use Although an

agency may be acquired by a global commu-

nication group with several international cli-

ents that have a business interest in the

Korean market their major clients are still do-

mestic companies doing business in the na-

tional market(Jeong 2001) Therefore even

though the overall increase of international

clients and usage of English is confirmed few

employees actually need to use English in

their day-to-day operations Another reason

that English may not be used more by the

average professional is that many agencies

have special teams for international clients

Even though international clients have in-

creased in the agency that does not mean that

all employees have contact with international

clients

The second major finding of this study in-

dicates the importance of the employeesrsquo loy-

alty and pride Participants did not strongly

agree with the statements dealing with their

overall satisfaction with the agency after the

acquisition They expressed comparatively

lower degrees of agreement to statements

such as feeling pride as a result of being a

member of a global communication group

and feeling positive about the agencyrsquos

future The results would seem to indicate

that the agency professionals on average

were not convinced that the acquisition was a


good thing for their agency or perhaps for

themselves Therefore even though partic-

ipants accept many changes and are trying to

adjust themselves for some changes(eg ef-

forts to improve English skills conducting

updated media planning) that does not auto-

matically mean that they are satisfied with the

changes or with all the directions in which

the agency is headed It is possible that the

increased level of stress and uncertainty re-

sulting from the acquisition could lead to re-

duced job satisfaction and less organizational

commitment Mergers and acquisitions can

be a traumatic event in the lives of in-

dividuals(Morrison amp Robinson 1997)

　　　In the post acquisition era the role

of the Human Resources team in the com-

pany becomes very important As several

studies have indicated not all MampA cases cre-

ate discouragement or uncertainty of the fu-

ture in employees due to the new organ-

ization(eg Fairfield-Sohn et al 2002)

Human Resources departments need to be

proactive in helping employees feel more

positive about the company and the future

Specifically the Human Resources team

should continue the practice of sharing man-

agement information and having periodical

meetings with individuals to respond to their

needs and questions There is no doubt that

the employees who have put in more com-

mitment to their jobs and the company can

be persuaded to increase the productivity of

the company The Human Resources team

plays a major role in maintaining consistent

communication between the company and

employees who may be still feel unsettled

The third major finding in this study con-

cerns specific changes within the three major

departments The results indicate that Account

managers see advantages to the acquisition

The majority of Account Managers in the

study strongly agreed with statements asking

if the acquisition has been helpful in acquir-

ing new clients and managing present clients

Account Managers seem to feel the acquis-

ition and the relationship with the global

group have been useful in some ways with

regards to better client management

According to Na and Marshall(2001) this is

one of the most important factors when

choosing an advertising agency as a partner

Account managers may eagerly welcome the

acquisition and are able to receive benefits

from the event

Agency creatives reported a greater em-

phasis on creativity more bureaucracy(eg

more and longer meetings) and more use of

a creative director The creative director-cen-

tered task system is generally seen as one of

the features of a Western style advertising

agency rather than the creative team ap-

proach which is more typically Korean The

study did not provide insight into the sat-

isfaction level among the creative team for

this approach however

Media department professionals indicated

a number of changes that had occurred since


the MampA Results suggest that clients are ex-

pecting more from the media plans and that

they have had additional tasks added to their

jobs In addition more strategic thinking

knowledge of planning software and higher

levels of research expertise are necessary

Given that the availability of media and me-

dia research data varies greatly between

countries it is not surprising that a merger

with a global company would bring an in-

creased sophistication to the media planning

process in the acquired Korean agencies

Limitations amp Suggestions for Future

Research

As with all research this study has

limitations While an attempt was made to

get a cross-section of agency professionals

from the three departments this study did not

use a random sample The method of partic-

ipant recruitment was deemed appropriate

for this exploratory study however the lack

of a random sample limits the generalizability

of the findings In addition the questionnaire

relied on self-report measures It is possible

that some respondents were concerned about

who would see their responses and as a re-

sult were not willing to be completely honest

in their responses Because this survey relied

primarily on close-ended questions it is like-

ly that some of the richness of the data were

lost

The results suggest several possible ave-

nues for future research in this area Armed

with the results of this study it would be use-

ful to conduct more in-depth interviews with

professional employees from agencies which

recently were acquired by global communi-

cation firms to gain further insight into the

perceived changes in corporate culture and

job functions One thing that was observed

by the author who distributed the ques-

tionnaires was that several of the respondents

appeared to be nervous about their positions

in the agency now that their agency had

merged There wasnrsquot really a place to report

this on the survey instrument although it

should be noted that management might not

have approved the survey if these types of

questions were included In addition future

studies might investigate whether or not

agency professionals feel that the acquiring

company has the same values as their agency

had before the acquisition

Participants from the development phase

of the questionnaire used in this study point-

ed out that the relationships between the for-

eign managers and Korean employees in-

volved cooperation to build an effective rela-

tionship as they are confronted with issues

about the communication culture and philos-

ophy within the agency This should be ex-

plored in future research It would also be in-

teresting that analyzing the change of ob-


jective culture after MampAs As Buono et

al(1985) indicated there are two kinds of or-

ganizational culture subjective culture(eg

shared values among employees) and ob-

jective culture(eg physical setting office

dersquocor) Due to the fact that this present study

dealt with subjective culture looking at the

other part of organizational culture after the

event will be valuable for this research field

Lastly conducting this same study in other

countries that are experiencing a large num-

ber of MampAs in the advertising industry is

recommended This would help to determine

if the changes are country-specific or com-

mon to international MampAs in general


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Advertising Age (2005) Agency Report May 2

Advertising Age (2003) Agency Report April 21

Advertising Age Annual (1978) Ad agency mergers in high gear Media Decisions 59sim63

Advertising Age (2002) The WPP Group Sept 30

Advertising Age (2000) WPP Sits at the Top May 15

Advertising Age (2001) Clients Conflict June 3

Advertising Information (2004) Report Advertising Agencies May

Asian market research news (2002) WPP invests in South Korean advertising market Growth Dec 5

2002

Baar A amp Sampey K (2002) Levy weighs scenarios for Publicis Post merger Adweek Jan

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Bantz C R McCorkle S amp Baade RC (1997) The news factory In D Berkowitz (Ed) Social meaning of news A text reader Thousand Oaks CA Sage

Bernstein P (1979) Here come the super agencies Fortune 46sim54

Bligh M C (2002) From Culture clash to integration The role of leadership in transforming

post-merger employee identification Dissertation abstracts International Section A Humanities and social Sciences 63(1-A) 264

Bloor G amp Dawson P (1994) Understanding professional culture in organizational context

Organization Studies 15(2) 275sim295

Buono A F amp Bowditch J L (1989) The Human Side of Mergers and Acquisitions Managing Collisions Between People Cultures and Organizations San Francisco Jossey-Bass

Publishers

Buono A F Bowditch J L amp Lewis J W (1985) When cultures collide The anatomy of a

merger Human Relations 38(5) 477sim500

Calori R Lubatkin M amp Very P (1994) Control Mechanisms in Cross-border Acquisitions an

International Comparison Organization Studies 15(3) 361sim379

Carey D C Ogden D amp Roland J A (2004) The Human Side of MampA Leveraging the most important factor in Deal making New York Oxford University Express

Cartwright S amp Cooper C L (1990) The Impact of Mergers and Acquisitions on People at Work

Existing Research and Issues British Journal of Management 1 65sim76

Crutchfield T N Spake D F DrsquoSouza G amp Morgan R M (2003) Birds of a feather flock

together Strategic implications for advertising agencies Journal of Advertising Research


December 361sim369

Daniel T A amp Metcalf G S (2001) The Management of People in Mergers and Acquisitions Westport CT Quorum

Data Monitor (2003) WPP Group Company file(wwwdatamonitorcom)

Davies C J (2004) Mergers and acquisitions The human factor Dissertation Abstracts International Section A Humanities amp Social Sciences 64(7-A) 2556

DIAMOND AD (2005) Diamond News(wwwdiamondcokr accessed on May 10 2005)

Dong-A Daily (2005) English Stress Oct 5

Ducoffe R amp Smith S (1993) Mergers amp Acquisitions among advertising agencies In Aleander J O

amp Carveth R (eds) Media economics Theory and practice Hillsdale NJ Lawrence Erlbaum

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Ducoffe R amp Smith S (1994) Mergers and acquisition and the structure of the advertising agency

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Euro week (2000) WPP group upgraded as ad agency MampA action goes on Oct 6 2000

Fairfield-Sonn J W Ogilvie J R amp DelVecchio G A (2002) Mergers Acquisitions and

Long-Term Employee Attitudes Journal of Business amp Economic Studies 8(2) 1sim17

Fisher E (1998) Advertising Agencies Await Word on Fate after Mergers Washington Times December 13

Gutknecht J E amp Keys J B (1993) Mergers acquisitions and takeovers maintaining morale of

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Ha L(2003) Crossing Offline and Online Media A comparison of Online Advertising on TV Web

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Han H (1998) An Empirical study on the liberalization effects of the Advertising industry

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Hennink-Kaminski H (2005) Transnational Advertising Agencies and The Niche Breadth Strategy A

Case for IMC at the Parent Company level American Academy of Advertising Conference Proceedings 131

Heo J (2004) Interview in English Dong-A Daily Sep 1

Hong S (2000) English=Survival Dong-a Daily Feb 29

Jeong J Marye T amp Choi H (2002) Exploring the missing point of view in international advertising

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Johnson H W amp Simon J L (1969) The Success of Mergers The case of Advertising Agencies

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Agencies The Journal of Media Economics 17(1) 35sim50


KOBACO (2005) Annual Report(wwwkobacocokr)




Korea Broad Casting Station (2003) War with English httpwwwkbscokrspecialreviewscript0

00430txt accessed on July 30 2005

Kotter J P amp Heskett J L (1992 Corporate culture and performance The Free Press New York

NY

Kubler-Ross E (1969) On Death and Dying New York Macmillan

Lee J (2004) Shaking of Domestic Advertising Industry AD Times December

Lee Y (2005) Brand Solutions for an MampA World Brandweek 46(5) 16sim17

Lin C amp Hsu P (2002) Developing a New Model for Selecting Advertising Agencies International Journal of Management 19(1) 132sim144

Linnet R Cardona M M Halliday J amp Goetzl D (2000) WPP sits at the Top Advertising Age

71(21) 81sim82

Lipponen J Olkkonen M amp Moilanen M (2004) Perceived procedural justice and employee

responses to an organizational merger European Journal of Work and Organizational Psychology 13(3) 391sim413

Marks ML (2003) Changing Back up the Hill Workplace Recovery after Mergers Acquisitions and Downsizings Jossey-Bass Publishing San Francisco

Marks M L amp Mirvis P H (1985) Merger syndrome Stress and uncertainty Mergers Acquisitions 20 50sim55

Marks M L amp Mirvis P H (1986) The Merger syndrome Psychology Today 3 36sim42

Marks M L amp Mirvis P H (2001) Making Mergers and Acquisitions Work Strategic and Psychological

Preparation Academy of Management Executive 15(2) 80sim92

Martin J amp Frost P (1996) The organizational culture war games A struggle for intellectual dominance In Clegg S R Hardy C amp Nord W R (Eds) Handbook of organization

studies London Sage

McMellon C (1990) Personal interview New York NY October

Michell P C N Cataquet H amp Hague S (1992) Establishing the causes of disaffection in

agency-client relations Journal of Advertising Research MarchApril 41sim48

Mierzjewska B I amp Hollifield C A (2005) Theoretical approaches in media management research

In Albarran B Chan-Olmsted S amp Wirth M Handbook of Media Management and

Economics Lawrence Erlbaum Associates Inc USA

Moon H C Kim H K amp Lee D H (2003) Cross Border Mergers amp Acquisitions Case Studies of

Korea China and Hong Kong China Research Paper 2003 APEC (Asia-Pacific Economic


Cooperation) 203-CT-016

Morrison E amp Robinson S (1997) When employees feel betrayed A model of how psychological contract violation develops Academy of Management Review 22(1) 226sim256

Na W B amp Marshall R (2001) A cross-cultural assessment of the advertising agency selection

process an empirical test in Korea and New Zealand International Journal of Advertising 20

49sim66

Nachum L amp Rolle J D (1999) The National Origin of the Ownership Advantage of Firms The Service Industries Journal 19(4) 17sim48

Napier N K (1989) Mergers and Acquisitions ldquoHuman Resource issues and Outcomes A Review

and suggested typologyrdquo Journal of Management Studies 26(3) 271sim289

Newman J M amp Krzystofiak F J (1993) Changes in employee attitudes after an Acquisition Group amp Organization Management 18(4) 390sim410

Ott J S (1989) The organizational culture perspective Chicago Dorsey

Peltier S (2004) Mergers and Acquisitions in the Media Industries Were Failures Really

Unforeseeable Journal of Media Economics 17(4) 261sim278

Schein E H (1985) Organizational culture and leadership A dynamic view 2nd edn Jossey-Bass

San Francisco

Schraeder M amp Self D R (2003) Enhancing the success of mergers and acquisitions an

organizational culture perspective Management Decision 41(5) 511sim522

Schweiger D M amp Denisi A S (1991) Communication with employees following a merger a

longitudinal field experiment Academy of Management Journal 34(1) 110sim135

Schweiger D M Ivancevich J M amp Power F R (1987) Executive actions for managing human

resources before and after acquisition Academy of Management Executive 1(2) 127sim138

Sizing M (1989) Average agency salary boosts fall Advertising Age May

Tetenbaum T J (1999) Beating the Odds of Merger amp Acquisition Failure Seven Key Practices that

Improve the Chance for Expected Integration and Synergies Organizational Dynamics 28(2)

22sim36

Vinten G (1993) Employee Relations in Mergers and Acquisitions Journal of Economic Behavior amp Organization 22(2) 47sim64

Wackman D B Salmon C T amp Salmon C C (1987) Developing an Advertising Agency-Client

Relationship Journal of Advertising Research December 1986January 1987 21sim28

Wentz L amp Donaton S (2000) The Knight who would be king Advertising Age 71(21) 81sim83

　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록

글로벌 커뮤니케이션 그룹과의 인수 및 합병 이후 나타난

한국 광고회사 내부의 변화에 대한 연구

유현재

서강대학교 신문방송학과 교수

본 연구는 최근 WPP 등 글로벌 커뮤니케이션 그룹과의 합병을 경험한 한국 광고대행사들의 직원들이 당시 느꼈던 그

리고 현재도 경험하고 있는 실제 업무 스타일의 변동 회사에 대한 로열티 등에 대한 감정변화 등 합병 이후 불거진 상

황들에 대해 심층적으로 조사해 보고자 하였다 연구 결과 대부분의 구성원들은 영어에 대한 스트레스와 함께 실력향

상을 위한 자구노력을 다하고 있었으며 합병 이전과 비교하여 현재 근무 중인 회사에 대한 충성도와 회사를 통한 자신

의 미래 비전에 대해 회의적인 시각을 보인 경우가 많았다 하지만 기획 (어카운트 매니저) 영역에서 근무하는 직원들

은 합병 후 신규 광고주 영입에 일종의 반사이익을 보고 있는 것으로 밝혀졌다 글로벌 네트워크에 의한 유 무형 서비

스에 대한 광고주들의 기대감이 신규 광고주 유치에 도움이 되고 있다고 대답한 것이다

주제어 광고회사 인수 및 합병 인력관리 업무 환경의 변화 합병 후의 경쟁력 강화

Abstract

Literature Review

MampA drive across the world and the Korean Advertising Industry

Reasons for MampAs in the Advertising Industry

Human side A Crucial Factor for Successful MampAs

Theoretical framework and Research Questions


Method





Differences by Department Work Years and Agency


Discussion

Limitations amp Suggestions for Future Research

References

국문초록


English proficiency In addition most of the participants answered that their loyalty to the

companies has been comparatively decreased after the MampA Finally among diverse departments

Account managers have been taking advantage of the MampAs most for recruiting new clients who

generally expect that they could get some extra benefits from Global networks

key words mergers and acquisitions advertising agency







































































Literature Review










































































to their success



























Industry

















2000)



























































































MampAs





















































of the MampA











































Questions







































have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록







































































Literature Review










































































to their success



























Industry

















2000)



























































































MampAs





















































of the MampA











































Questions







































have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록










to their success



























Industry

















2000)



























































































MampAs





















































of the MampA











































Questions







































have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록













































































MampAs





















































of the MampA











































Questions







































have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록







































Questions







































have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록















have never dealt





























agency








































































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록

















































question is raised





Media Departments

Method













































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록









































than 10)











lingual authors

























































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록












































industry
























광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록



광고회사

A 47 49

B 25 26

C 13 135

D 11 115

부서

Account Executive


41 427


Copywriter 19 198

Account Executive


37 42


Copywriter 14 229

Art Planner

(Graphic Designer

Producer)

22 115

Media Planner 11 83

Media Buyer 8 219

Years in the

Agency

4sim7 years 21 500

8sim15 years 48 281

16sim 27 281

Base N=96 100











































Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


Mean Std Statements

























Base＝96












































＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록





























＝289)















further analysis


Agency





















Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


Departments

Account Management

(Mean)

Creative Department

(Mean)

Media Department

(Mean)

F Sign Statements




4-7

years

8-15

years

16 or

more years

F Sign Statements


rewarded



company

International

participation





current Ad Agency




























Table 3)



Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


Mean Std Statements















Base＝41



Management)

























company



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록



































parent

































Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


Mean Std Statements















Base＝41



Department)













errdquo(Mean＝236)

















Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


Mean Std Statements
















Base＝19



Department)



















Table 6)

Discussion























tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록



















tasks





































clients





































































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록
























































from the event




























Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록















Research

















lost


















































References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


















References










2002










Publishers











December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


December 361sim369








Associates Inc































NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록









NY






71(21) 81sim82









studies London Sage














49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록






49sim66









San Francisco










22sim36





　　　

　　　투고일 2010년 10월 12일 게재확정일 2011년 01월 13일


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록


국문초록



유현재










Abstract

Literature Review






Method







Discussion


References

국문초록

An Exploration of Korean Advertising Agencies After Integration...

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