• The Journal of Asian Finance, Economics and Business
• /
• 제8권3호
• /
• pp.1241-1248
• /
• 2021

This study employs data from CRSP/Compustat files for the period from 2003 to 2017 and applies a panel data analysis. The results of this study show a positive relationship between trade credit and the firm's market value, however, the results show a negative relationship if we test the impact of financial credit on the firm's market value. The results have direct policy implications for investors, the firm's management, and financial strategy. An implication of our study is that using trade credit as a source of financing may give a positive signal of the firm's creditworthiness and increase the firm's market value. Also, the results of our study indicate that the benefits of using trade credit may outperform the cost of using it as a source of finance. Prior studies examine the impact of financial leverage on the firm's value, however, this study contributes to the existing studies that examine the factors that affect the firm's market value by examining the impact of using trade credit finance on the firm's market value. The main limitation of this study is that the results are based on listed firms, using data from unlisted firms is not available.

• Journal of Information Technology Applications and Management
• /
• 제10권3호
• /
• pp.121-142
• /
• 2003

Most of companies related to the area of B2B electronic commerce are making their efforts to innovate their existing business process into new designed process based on the concept of virtual enterprise. Virtual enterprise can take on many forms and definitions. Nevertheless, the rationale for this business model is clear cooperate to compete, the virtual organization advocates collaboration, partnerships, alliance and similar ideas. This studyintends to suggest an empirical clue to test several hypotheses related to the influence of environmental. organizational, and technological factor to the successful implementation of virtual enterprise in automobile industry. This research surveyed 91 corporations in Korean automobile part industry. Among those samples 86 data of corporate general managers turned out to be statistically valid. This study performed the factor analysis, Cronbach-alpha test. Pearson correlation analysis for testing the validity and the reliability of this research. The results of factor analysis and reliability test indicate that thirty issues to be surveyed are to be grouped into nine factors. The result of multiple regression shows that the influencing factors of eight independent variables on a dependent variable are cooperation between partners, information intensity, IT compatibility, IS maturity. The partners in the strategic alliance will have to trust each other in carrying out their designated roles and responsibilities. and supplying the correct information critical for creating value in virtual business environment.

• Journal of Korea Trade
• /
• 제27권4호
• /
• pp.1-18
• /
• 2023

Purpose - The purpose of this paper is to study how flexibility and mutuality in determining trade terms impact logistics efficiency in the context of relational theory. Additionally, the effect of relational contracts on logistical efficiency relative to the value of the goods being traded is investigated. Design/methodology - According to the relational contract theory, we developed 17 factors utilizing a 7-point Likert scale to measure variables related to flexibility, mutuality, logistics efficiency, and the added value of goods. The survey occurred over four months, and was distributed directly, and via email, phone, and online Google surveys. A total of 403 surveys were collected out of 1,800 distributed, and 380 were analyzed. The principal respondents were import/export companies and members of the Korea International Trade Association and the Korea Small and Medium Business Export-Import Association. The collected data were analyzed using frequency analysis, exploratory factor analysis, and correlation analysis using SPSS ver. 26.0 statistical software, and hypothesis test results were derived using Process Macro ver. 3.5. Findings - This study provides evidence that negotiation flexibility for trade terms affects the efficiency of the logistics process, and the mutuality of such arrangements is shown to be associated with the flexibility and efficiency of logistics processes. Additionally, it has been established that companies whose trade goods possess a low degree of added value may experience increased efficiency in logistics operations if they agree to trade terms that are both flexible and mutually beneficial with their counterparts. Originality/value - This study suggests that in an environment of rapidly shifting global logistics and unpredictable related costs, trade companies may be able to improve logistics efficiency by establishing flexible, mutually beneficial trade terms when entering into contracts. Furthermore, it is suggested that companies dealing in low-value-added products may improve the logistical performance of approaching trade from a perspective of relational contracts.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권12호
• /
• pp.783-793
• /
• 2020

This research investigates the explanatory factors governing the dividend payout to shareholders of blue-chip companies listed on Bursa Malaysia. In spite of continuous attention offered by empirical research on dividend payout of publicly-listed companies, paradoxically only few studies exclusively examined the explanatory factors from the perspective of blue-chip companies. Recognizing the capability of blue-chip companies to serve as a stalwart indicator of stock market condition as well as a consistent income source to shareholders, more research should be carried out for better inference on the companies' dividend payout decision. This research is using 522 observations from a sample of 18 Malaysian blue-chip companies over a 29-year period (1990 to 2019) and utilizes a panel data regression analysis for the estimation of the impact of eight factors, namely, systematic risk, leverage, free cash flow, lagged dividends, market-to-book value, profit growth, total asset turnover, and company size. Measuring dividend payout using two specifications (dividend/earnings and dividend/total assets), this research reveals that systematic risk and free cash flow have a significant and negative impact on dividend payout. Meanwhile, past year dividends, market-to-book value, profit growth, total asset turnover and company size have a significant and positive impact on dividend payout.

• Asia pacific journal of information systems
• /
• 제15권2호
• /
• pp.171-193
• /
• 2005

Small firms are considered as the last mile in electronic networks of business enterprises. Since small firms lack in their resources and capabilities for IT deployment, it seems a challenging project to make them electronically linked to their trading partners. This study aims to investigate the factors that influence the intent of small firms to adopt electronic linkage to their trading partners. This study considers the context where small firms already have transaction relationships with partner firms and where their adoption of electronic linkage may influence the nature and performance of the transactional relationships. This study considers the expected value of electronic linkage and the joint actions of the trading firms as the major factors. Its research model also includes traditional factors such as influences from the industry and the trading partner, the support of CEO, and the readiness of the trading partner. Based on the survey data from more than 1000 small firms, the present study performs regression analysis and finds that all but one factor are significant in explaining the variations in the adoption intention of small firms. The exception is the joint action, which is shown to decrease the intention. Based on the results, this study offers business and policy implications that would be useful to business managers and policy makers.

• 산업경영시스템학회지
• /
• 제35권3호
• /
• pp.1-6
• /
• 2012

This paper aims to suggest a validity analysis model that would be helpful for local governments considering u-City construction projects and a methodology for them to promote build-transfer-lease (BTL) u-City projects. This methodology mainly uses quantitative and qualitative analysis based on the Value For Money (VFM) designed by the Public and Private Infrastructure Investment Management Center (PIMAC) under the Korea Development Institute (KDI). BTL projects requires a large amount of capital and involves long-term investments. Therefore, multi-faceted validity analysis is required for the success of a project. This study will enumerate various factors to be considered in the pre-analysis of validity of BTL projects and suggest a methodology to verify them. A case study of a BTL project promoted by Ansan City assisted in designing this study in detail.

• 한국경영과학회지
• /
• 제41권1호
• /
• pp.21-39
• /
• 2016

Although the demand for IT outsourcing (ITO) has increased recently because of the recent recession, concerns about business discontinuity in the transition phase cause companies to hesitate to adopt ITO. Therefore, a guideline to improve the prospects is needed. However, studies on the success factors of the transition phase in ITO are lacking. In this study, we develop an expert hierarchical value map (HVM) of the success of the transition phase in ITO by using cognition scientific methodologies. We empirically verify how success factors affect the success of the transition phase. Specifically, we derive an HVM of main stakeholders by using in-depth interviews and approaches, such as repertory grid technique (RGT) and laddering, based on means-end chain theory. We validate the success factors empirically through a bipolar analysis of RGT. Finally, we determine the most important cluster of success factors through cluster analysis.

• The Journal of Asian Finance, Economics and Business
• /
• 제4권3호
• /
• pp.85-94
• /
• 2017

The paper examines critical factors affecting consumer behavioral intentions in accepting online health communication through social networking sites. Unlike recent research under this topic, the paper assimilates some components of service quality dimensions and consumer behavior theories. The paper employs factor analysis and structural equation modelling analysis with latent variables to identify critical factors from the survey data collected from Korean consumers. The results of the study identifies three major constructs: consumer needs for health information, the perceived value of tangible attributes of health information providers, and the perceived value of intangible attributes of health information providers. The results show that consumer needs for health information and the tangible and intangible attributes of health information providers should be considered as important antecedents of accepting online health communication through social networking sites. The findings suggest that the success of online health communication via social networking sites largely depends on the tangible and intangible attributes of health information providers.

• 산업진흥연구
• /
• 제1권1호
• /
• pp.19-25
• /
• 2016

본 연구는 중소기업 근로자를 대상으로 업무 및 복지환경 등에 대한 만족도 현황을 파악하여 미흡한 사항은 개선을 통해 전반적인 만족도의 향상을 도모하는데 있다. 측정도구의 신뢰도를 검증하기 위해 신뢰도 분석을 실시한 결과, 모든 요인의 신뢰도 계수는 0.6 이상으로 다소 높은 것으로 나타났다. 관계 요인과 복지 만족도, 보상 요인과 복지 만족도를 제외한 모든 변수 간의 상관관계가 +0.2 이상 +0.8 미만으로 양의 상관관계가 있는 것으로 나타났다. 직무 요인, 관계 요인, 보상 요인이 직무 만족도와 복지 만족도에 미치는 영향을 알아보기 위해 직무 요인, 관계 요인, 보상 요인을 독립변수로 하고 직무 만족도와 복지 만족도 각각을 종속변수로 하여 다중회귀분석을 실시한 결과, 세 요인 중 직무 요인과 보상 요인, 두 요인이 직무 만족도에 유의한 영향을 미치는 것으로 나타났다. ${\beta}$값을 보면 직무 요인(.584), 보상 요인(.369) 순으로 직무 만족도에 미치는 영향이 큰 것으로 나타났다. 업무 및 복지환경 개선을 통하여 직원들의 만족도가 향상됨으로써, 업무에 적극적인 자세로 임하여 외부고객의 만족도에 긍정적인 영향을 미칠 것으로 기대된다.

• 유통과학연구
• /
• 제13권8호
• /
• pp.41-48
• /
• 2015

Purpose - This study's objective is to confirm the effects of the perceived relationship value, alternative attractiveness, and investment size on Korean food service franchisees' commitment, using an investment model. Among the three factors, the study examines which factors enhance or weaken the commitment in the franchising investment model. Research design, data, methodology - The data were collected from 495 franchisees and analyzed by a SEM (Structure Equation Model) using path analysis by SPSS 18.0 and AMOS 18.0. Results - 1) The perceived relationship value has a positive effect on franchisee commitment. 2) The alternative attractiveness has a negative effect on franchisee commitment. 3) The investment size has a positive effect on franchisee commitment. Conclusions - The findings show that the investment model can be adapted to franchising and confirms previous investment model study results. We can assume that the higher the perceived relationship value and the bigger the investment, the stronger the commitment, and the greater the alternative attractiveness, the weaker the commitment. These results offer managerial implications for a franchisor wanting to strengthen franchisee commitment.