• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.343-359
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• 2021

Purpose - The purpose of this paper is to investigate the relationship between earnings management and the disclosure effect of share repurchase. In addition, we analyze whether the relationship between earnings management and share repurchase is affected by executive stock options. Design/methodology/approach - We calculate the discretionary accrual amount for the year immediately preceding the share repurchase and the cumulative excess return around the announcement of the share repurchase, and examine the relationship between the two by regression analysis. Findings - We confirmed a negative relationship between discretionary accrual in the year immediately preceding the share repurchase and the market response to the share repurchase disclosure. In particular, it was found that the negative relationship between discretionary accrual and stock price return on share repurchase announcement was found to decrease in companies to which executive stock options were granted. Research implications or Originality - When uncertainties exist in the motives for share repurchase, we find that earnings management and executive stock options can be useful tools for reducing the adverse selection risk inherent in share repurchase announcements.

• Korean System Dynamics Review
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• v.9 no.2
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• pp.27-43
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• 2008

This study investigates market barriers in increasing the market share of Alternative Fuel Vehicles (AFVs). In particular, this study first conceptualizes the AFVs market model with the aid of generic system archetypes suggested by Wolstenholme. Among four generic system archetypes suggested by Wolstenholme, the market structure of AFVs can be explained by the 'relative achievement' archetype. Starting from the generic system archetype, this study extends the model boundary step by step to take account of various model assumptions necessary to simulate the model numerically. If there is a significant network effect on vehicle operating costs, it is difficult to achieve the shift to AFVs even in the long term without a policy intervention because the car market is locked into the current structure. There are several possible policy options to break the 'locked-in' structure of the car market, such as subsidies on vehicles, subsidies on fuels, and a niche management policy.

• The Journal of the Korea Contents Association
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• v.19 no.8
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• pp.115-122
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• 2019

The companion animal related businesses are rapidly growing as the pet population increases in Korea. In this study, we analyzed the market trends of companion animal food and products to offer basic information that can be used in related policies and industries. The data were collected using Nielsen Korea's wholesale/retail distribution channels. As a result, in the case of companion dog food, PB products of domestic companies showed the highest market share with 24.6%, and the ratio of domestic companies(54.8%) was higher than that of import companies(45.2%). Domestic PB products also had the highest market share(16.5%) in companion cat food, however, the ratio of import companies(71.6%) was higher than that of domestic companies(28.4%). In the case of the market share of the companion animal products(toys, oral and bath supplies), Nosework mats from domestic companies were top ranked in the toy category(28.0%). Oral products(62.5%) and bath products(59.5%) from domestic companies were also having a higher market share than import companies. Our research may help domestic companion animal product companies to steadily increase market share and the amount of their export.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.05a
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• pp.548-555
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• 2003

Customer satisfaction level is usually measured in terms of price, quality, customization, after-sale-service, product variety etc. Each finn sets up a distinctive production/marketing strategy to gain competitive advantage by prioritizing the customer satisfaction measures. The market differentiation strategy directly results in supply chain performance such as lead time, inventory, customer fill rate and market share. Product proliferation desirable in customization sense often conflicts the economies of scale effect in production side. This paper focuses the relationship between product variety and market share. Specifically, we investigate how introduction of new product affects the current market share, i.e.,) formation of customer preference and provide some insight into the optimal range of product variety.

• Korea Trade Review
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• v.43 no.6
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• pp.51-70
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• 2018

This study is to define the relationship between capital structure and the market share in the global shipping market, estimating the debt-equity ratio. To analyze the impact of the debt-equity ratio on market share, this study collected data from the 100 largest shipping companies from 2010 to 2017. Results identified that global shipping lines moderate their debt-equity rates to 62%, and all of them strategically utilize debt in order to increase market share in global shipping market. In comparison between the group focused on cargo volume and another group focused on freight rates, it is found that the group focused on cargo volume increase their handling cargo volume through increasing the debt rates. Another group used debt rate for reducing the freight rate and enhancing market power. Furthermore, after classifying the samples into high-growth and low-growth companies, this study compared the group focused on cargo volume and another group focused on freight rates. As a result, the low-growth group showed more significant impacts of the debt rate on market share than the high-growth group. The results of this study provide useful insight for future strategic decision making of shipping lines in the global shipping market.

• Asia-Pacific Journal of Business
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• v.10 no.3
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• pp.143-151
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• 2019

Whether export-market prioritization is effective on financial performance is a controversial issue. Nevertheless, few studies have addressed this issue. The present study attempted to explicate the effects of exporters' market prioritization on their superior financial performance. Based prominently on the market-segmentation theory and the relationship-marketing theory, the current study developed propositions of whether export-market prioritization is economically reasonable. It is posited that export-market prioritization postively influences buyer satisfaction in a primary market; that export-market prioritization negatively affects on buyer satisfaction in a secondary market; that export market prioritization reduces costs in relation to export marketing and sales; that buyer satisfaction positively influences buyer loyalty for both buyers in primary markets and ones in secondary markets; that buyer loyalty positively influences share of wallet for both buyers in primary markets and ones in secondary markets; and that share of wallet positively influences sales per buyer for both buyers in primary markets and ones in secondary markets. Thus, exporters should identify suitable export-market segments and prioritize export markets. The present study suggested that exporters monitor market profitability, assess the quality of buyer information, and conduct selective organizational alignment in order to develop a prioritization strategy.

• The International Journal of Costume Culture
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• v.12 no.1
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• pp.101-105
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• 2009

With the acceleration of globalization, China accounts for a larger part in the world economy. The Korea fashion brands that have entered into China are becoming more diverse and various and China has become a major market of Korea fashion brands. More than 100 Korea fashion brands rushed into Shanghai, gaining a lot of attention. Korea fashion brands have market strategies such as differentiation strategy, high price and diversification. Korea fashion brands have gained a large market share in China owing to their diversity of products and successful marketing strategy. In order to get more profit, they should make more efforts to increase their brands' awareness, getting more potential consumers.

• Journal of the Korea Society of Computer and Information
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• v.7 no.1
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• pp.154-160
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• 2002

Global cosmetic corporations take about 40% of Korean cosmetic market in a short period, and will expand their share rate. Furthermore, Korean main cosmetic market channel has been changed from cosmetic shop to diverse channels in accordance with Korean consumer's trends. Therefore, Korean cosmetic corporations must response to the global competitors and the changed market factors simultaneously with an effective business strategy. This paper suggests the effective business strategy to keep and raise the market share against the global cosmetic corporations, and response to the changed market situation.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.319-326
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• 2022

This study investigates the specific and conclusive reasons why a company issues bonus shares, as well as the rationale and the best timing for bonus share issuance. The study examines Carlsberg's annual reports from 1988 to 2004 to evaluate the factors that influence bonus share payments and timing. Examine supporting evidence from other businesses as well. An analysis of Carlsberg Brewery Malaysia Berhad's bonus shares granted from its inception to 2004 found that the announcement of bonus shares would increase the company's share price. As a result, the findings suggest that bonus shares are issued to correct market asymmetry. This research supports the idea that issuing bonus shares would increase the stock price, resulting in increased liquidity. Hence, companies issue bonus shares to boost their liquidity and to convey private positive information to their shareholders. This research adds to the literature by focusing on the timing and key features of bonus share issuing. It implies that dividend policy should be customized to market imperfections. As a result, dividend policies would differ significantly between organizations based on the weights each of the imperfections has on the firm and shareholders.

• Journal of Korea Technology Innovation Society
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• v.7 no.3
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• pp.555-580
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• 2004

We analyzed the effect of 6-month lagged number portability policy and introduction of common number among carriers on Korean mobile market. Our result shows that the policy change contributed to both the increase in number of mobile subscribers and decrease in dominant carrier's market share. We found that unified prefix among mobile operators is more effective than the lagged number portability policy. The carriers' profit, however, decreased a lot due to excessive marketing expenditure. We also estimated market shares of carriers up to year 2005 when full number portability policy is adopted. The results show that dominant carrier's monopolistic power will be recovered by the end of 2005 implying government's number policy itself cannot guarantee the effective competition in Korean mobile market.