• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.769-776
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• 2021

The focus of this study is to investigate the effect of earnings management and audit quality on the cost of equity capital and also examines whether audit quality acts as a moderating variable for the effect of earnings management on the cost of equity capital. The population in this study are companies from the consumer goods industry sector listed on the Indonesia Stock Exchange (IDX) during the 2016-2018 period. This sector was chosen because it is a sector that is able to survive in conditions of economic decline, so it becomes a good investment opportunity in the future. The sample selection was carried out using purposive sampling technique. By using the Moderated Regression Analysis (MRA) technique, the results show that earnings management has a positive effect on the cost of equity capital. Conversely, companies with good audit quality will bear lower cost of equity capital. The moderating hypothesis test results show that audit quality moderates the effect of earnings management on the cost of equity capital. This means that, even though the company carries out earnings management, investors have more confidence in the results of audits conducted by qualified auditors so that the cost of equity capital is low.

• Journal of Korea Trade
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• v.24 no.5
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• pp.55-70
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• 2020

Purpose - This paper aims to examines the various factors influencing the purchase decisions of Malaysian consumers for halal food and based on this analysis, to present some measures by which Korea's food industry could expand exports to the Malaysian market. Design/methodology - This research used SPSS 12.0 for descriptive analysis, ANOVA, t-tests, factor analysis, cluster analysis, and reliability analysis based on a total of 571 responses were included as the final data in the 600 surveys administered. Findings - Malaysian consumers had high trust and confidence in products that had obtained halal certifications. This reflects the cultural situation where 61% of the Malaysian population consist of Muslims. In terms of the consumption of Korean foods, items such as ramyeon, confectionery, and kimchi were found to enjoy high awareness and strong preference among local consumers, thus suggesting their competitiveness. Originality/value - This paper attempts to examine consumer characteristics - an aspect that had received insufficient treatment in previous studies on halal certifications in Muslim countries. This study found the purchase practices and influencing factors behind Malaysian consumers' purchases of imported foods and Korean foods. Therefore, it is expected that this result can give Korean food industry an insights and strategies for exporting Korean food to Malaysia.

• Journal of Animal Science and Technology
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• v.65 no.3
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• pp.490-510
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• 2023

Feed safety is needed to produce and provide safe animal feeds for consumers, animals, and the environment. Although feed safety regulations have been set for each country, there is a lack of clear feed safety regulations for each livestock. Feed safety regulations are mainly focused on heavy metals, mycotoxins, and pesticides. Each country has different safe levels of hazardous materials in diets. Safe levels of hazardous materials in diets are mostly set for mixed diets of general livestock. Although there is a difference in the metabolism of toxic materials among animals, the safe level of feed is not specific for individual animals. Therefore, standardized animal testing methods and toxicity studies for each animal are needed to determine the correct safe and toxic levels of hazardous materials in diets. If this goal is achieved, it will be possible to improve livestock productivity, health, and product safety by establishing appropriate feed safety regulations. It will also provide an opportunity to secure consumer confidence in feed and livestock products. Therefore, it is necessary to establish a scientific feed safety evaluation system suitable for each country's environment. The chance of outbreaks of new hazardous materials is increasing. Thus, to set up appropriate toxic levels or safe levels in feed, various toxicity methods have been used to determine toxic levels of hazardous materials for humans and animals. Appropriate toxic testing methods should be developed and used to accurately set up and identify toxicity and safe levels in food and feed.

• Journal of the Korean Society of Food Culture
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• v.24 no.3
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• pp.245-255
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• 2009

As multinational brands have made inroads into domestic food service industry, and its recognition has been high to consumers, This research has tried to examine the general identity of brand, their recognition, and re-purchase behaviors. The purpose of this study is to inquire into how the brand value by brand identity was caused by recent development of food service industry, and how it had an effect on the purchase behaviors of them. In particular, factors of general identity have a significant effect on the revisit and purchase intention, as the image and ads of family restaurant among brand property factors of family restaurant showed an significant effect on the revisit intention. This study was made with priority given to the brand identity as four brand factors such as product brand, organizational brand, community brand and design brand based on the confidence. Results found that the community brand and design brand had a significant difference on purchase intention. Consequently, it has been suggested that the marketing strategies to make the brand identity strong have to be established with various brand enhancement tactics in the food service industry.

• Journal of Information Processing Systems
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• v.20 no.1
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• pp.93-104
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• 2024

China is playing more predominant role in the liquefied natural gas (LNG) market worldwide and LNG import price is subject to various factors both at home and abroad. Nevertheless, previous studies rarely heed a multiple of factors. A time-varying parameter factor augmented vector auto-regression (TVP-FAVAR) model is adopted to discover the determinants of China's LNG import price and their dynamic impacts from January 2012 to December 2021. According to the findings, market fundamentals have a greater impact on the import price of natural gas in China than overall economic demand, financial considerations, and world oil prices. The primary determinants include domestic gas consumption, consumer confidence and other demand-side information. Then, there are diverse and time-varying spillover effects of the four common determinants on the volatility of China's LNG import price at different intervals and time nodes. The price volatility is more sensitive and long-lasting to domestic natural gas pricing reform than other negative shocks such as the Sino-US trade war and the COVID-19 pandemic. The results in this study further proves the importance of domestic natural gas market liberalization. China ought to do more to support the further marketization of natural gas prices while working harder to guarantee natural gas supplies.

• Management & Information Systems Review
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• v.31 no.1
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• pp.1-21
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• 2012

This study analyzes empirically the effect of the degree of interest in cultural marketing on corporate image and how the corporate images affect on consumers' clothes purchasing behavior through the case of a fashion brand, 'Uniqlo'. For this, Chi-square test and independent sample T-test were used for the verification of differences in frequency and average by general characteristics of respondents. To observe the effects between ration scales, it carried out a multiple regression analysis, and also, using AMOS16.0, it verified the suitability of the route model and estimated the coefficients for each route. From the result of analysis, it was found that degree of consumer's interest in cultural marketing affects on corporate images such as corporate confidence and marketing and the corporate image again is closely related to consumer's clothes purchasing behavior and satisfaction. In other words, the consumers who have greater interest in corporations using cultural marketing or who had participated in various cultural events are more likely to think that 'Uniqlo' is a reliable corporation who actively uses cultural factors in marketing. Likely, it was observed that the positive corporate image of 'Uniqlo' has a large influence on purchase of their products and also, it makes consumers feel as if they are participating in mecenat, thus increasing consumer's satisfaction after purchase. This study has a limitation in generalization of study result because it focused on a case of particular brand. However, it is still helpful for the empirical study for growth and reinvigoration of the market for cultural marketing, and through a case of leading corporation, it provides implications to the corporations who use or do not use cultural marketing.

• The Korean Journal of Franchise Management
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• v.8 no.2
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• pp.37-47
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• 2017

Purpose - Recently, the food service franchise market is experiencing rapid growth and competition is intensifying. Therefore, consumer choice has expanded, and reputation management has become important as a strategy for survival of corporations. Based on previous studies, this research proposed the theoretical framework about the structural relationships among reputation, trust(cognitive trust, affective trust), and loyalty. Research design, data, and methodology - This study examined the structural relationship between reputation, trust, and loyalty from the customer's perspective. Based on comprehensive validation procedures across nine food service Franchise firm types, This study found support for a five-dimensional scale with the following dimensions: Customer Orientation, Employer Brand, Reliable and Financially Strong Company, Product and Service Quality, and Social and Environmental Responsibility. In order to verify the research purposes, research model and hypotheses were developed. The data were collected from 227 food service franchise consumers through online survey. The data was analyzed with SPSS 24.0 and Amos 23.0 statistical program. Result - The results of the study are as follows. First, customer orientation, reliable·financially strong company and product·service quality have significant impact on corporate cognitive trust. And employer brand, product/service quality and social·environmental responsibility have significant impact on corporate affective trust. Second, cognitive trust and affective trust have significant impacts on consumer loyalty. Conclusions - The implications of this study are following as: From the theoretical perspective, this study considers trust as two dimensions such as cognitive and affective, not a single dimension, and identify what dimensions of franchise firms affect consumers' reputation perception and in turn lead cognitive and affective trust, and loyalty. This study also provides several managerial implications. In the franchise market where competition is intensifying, it is very important to analyze the attitudes of consumers in order to gain an advantage in competition with other competitors. In this study, it is meaningful that the study was conducted on consumers who have experience using a restaurant franchise company. Also, reputation is necessary to pay attention to the company because it is an important variable that strengthens with customer through confidence in food service franchise business, and leads loyalty and consumer consumption. Therefore, marketers should develop marketing strategies considering various reputation factors.

• Korean Security Journal
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• no.22
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• pp.145-168
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• 2010

Since Alarm Monitoring Service was introduced in Korea in 1981, the market has been increasing and is expected to increase continually. Some factors such as the increase of social security need and the change of safety consciousness, increase of persons who live alone could be affected positively on Alarm Monitoring Service industry. As Alarm Monitoring Service come into wide use, the understanding of electronic security service is spread and consumer's demand is difficult, so consideration about new developmental plan is need to respond to the change actively. Electronic security system is consist of various kinds of element, so every element could do their role equally. Alarm Monitoring Service should satisfy consumer's various needs because it is not necessary commodity, also electronic security device could be easily operated and it's appearance has to have a good design. To solve the false alarm problem, detection sensor's improvement should be considered preferentially and development of new type of sensor that operate dissimilarly to replace former sensor is needed. On the other hand, to settle the matter that occurred by response time, security company could explain the limit on Alarm Monitoring System to consumer honestly and ask for an understanding. If consumer could be joined into security activity by security agent's explanation, better security service would be provided with mutual confidence. To save response time the consideration on the introduction of GIS(Global Information System) is needed rather than GPS(Global Positioning System). Although training program for security agents is important, several benefits for security agents should be considered together. The development of new business model is required for preparation against market stagnation and the development of new commodity to secure consumer for housing service rather than commercial facility service. for the purpose of those, new commodity related to home-network system and video surveillance system could be considered, also new added service with network between security company and consumer for a basis is to be considered.

• Journal of Global Scholars of Marketing Science
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• v.20 no.1
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• pp.89-97
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• 2010

This study researches the effects of common features on a no-choice option with respect to regulatory focus theory. The primary interest is in three factors and their interrelationship: common features, no-choice option, and regulatory focus. Prior studies have compiled vast body of research in these areas. First, the "common features effect" has been observed bymany noted marketing researchers. Tversky (1972) proposed the seminal theory, the EBA model: elimination by aspect. According to this theory, consumers are prone to focus only on unique features during comparison processing, thereby dismissing any common features as redundant information. Recently, however, more provocative ideas have attacked the EBA model by asserting that common features really do affect consumer judgment. Chernev (1997) first reported that adding common features mitigates the choice gap because of the increasing perception of similarity among alternatives. Later, however, Chernev (2001) published a critically developed study against his prior perspective with the proposition that common features may be a cognitive load to consumers, and thus consumers are possible that they are prone to prefer the heuristic processing to the systematic processing. This tends to bring one question to the forefront: Do "common features" affect consumer choice? If so, what are the concrete effects? This study tries to answer the question with respect to the "no-choice" option and regulatory focus. Second, some researchers hold that the no-choice option is another best alternative of consumers, who are likely to avoid having to choose in the context of knotty trade-off settings or mental conflicts. Hope for the future also may increase the no-choice option in the context of optimism or the expectancy of a more satisfactory alternative appearing later. Other issues reported in this domain are time pressure, consumer confidence, and alternative numbers (Dhar and Nowlis 1999; Lin and Wu 2005; Zakay and Tsal 1993). This study casts the no-choice option in yet another perspective: the interactive effects between common features and regulatory focus. Third, "regulatory focus theory" is a very popular theme in recent marketing research. It suggests that consumers have two focal goals facing each other: promotion vs. prevention. A promotion focus deals with the concepts of hope, inspiration, achievement, or gain, whereas prevention focus involves duty, responsibility, safety, or loss-aversion. Thus, while consumers with a promotion focus tend to take risks for gain, the same does not hold true for a prevention focus. Regulatory focus theory predicts consumers' emotions, creativity, attitudes, memory, performance, and judgment, as documented in a vast field of marketing and psychology articles. The perspective of the current study in exploring consumer choice and common features is a somewhat creative viewpoint in the area of regulatory focus. These reviews inspire this study of the interaction possibility between regulatory focus and common features with a no-choice option. Specifically, adding common features rather than omitting them may increase the no-choice option ratio in the choice setting only to prevention-focused consumers, but vice versa to promotion-focused consumers. The reasoning is that when prevention-focused consumers come in contact with common features, they may perceive higher similarity among the alternatives. This conflict among similar options would increase the no-choice ratio. Promotion-focused consumers, however, are possible that they perceive common features as a cue of confirmation bias. And thus their confirmation processing would make their prior preference more robust, then the no-choice ratio may shrink. This logic is verified in two experiments. The first is a $2{\times}2$ between-subject design (whether common features or not X regulatory focus) using a digital cameras as the relevant stimulus-a product very familiar to young subjects. Specifically, the regulatory focus variable is median split through a measure of eleven items. Common features included zoom, weight, memory, and battery, whereas the other two attributes (pixel and price) were unique features. Results supported our hypothesis that adding common features enhanced the no-choice ratio only to prevention-focus consumers, not to those with a promotion focus. These results confirm our hypothesis - the interactive effects between a regulatory focus and the common features. Prior research had suggested that including common features had a effect on consumer choice, but this study shows that common features affect choice by consumer segmentation. The second experiment was used to replicate the results of the first experiment. This experimental study is equal to the prior except only two - priming manipulation and another stimulus. For the promotion focus condition, subjects had to write an essay using words such as profit, inspiration, pleasure, achievement, development, hedonic, change, pursuit, etc. For prevention, however, they had to use the words persistence, safety, protection, aversion, loss, responsibility, stability etc. The room for rent had common features (sunshine, facility, ventilation) and unique features (distance time and building state). These attributes implied various levels and valence for replication of the prior experiment. Our hypothesis was supported repeatedly in the results, and the interaction effects were significant between regulatory focus and common features. Thus, these studies showed the dual effects of common features on consumer choice for a no-choice option. Adding common features may enhance or mitigate no-choice, contradictory as it may sound. Under a prevention focus, adding common features is likely to enhance the no-choice ratio because of increasing mental conflict; under the promotion focus, it is prone to shrink the ratio perhaps because of a "confirmation bias." The research has practical and theoretical implications for marketers, who may need to consider common features carefully in a practical display context according to consumer segmentation (i.e., promotion vs. prevention focus.) Theoretically, the results suggest some meaningful moderator variable between common features and no-choice in that the effect on no-choice option is partly dependent on a regulatory focus. This variable corresponds not only to a chronic perspective but also a situational perspective in our hypothesis domain. Finally, in light of some shortcomings in the research, such as overlooked attribute importance, low ratio of no-choice, or the external validity issue, we hope it influences future studies to explore the little-known world of the "no-choice option."

• Journal of Food Hygiene and Safety
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• v.24 no.4
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• pp.291-298
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• 2009

This study was carried out to evaluate the consumer recognition with regard to the safety management for imported foods. In order to evaluate the effect of the prgram on consumer education, the program was practiced for 89 female college students in Seoul, Korea. The participants were given an instruction with materials on imported food safety, including the safety management of imported foods and their distribution. The results showed that the participants achieved a greater understanding of imported foods. In particular, they had firmly grasped the importance of expiration date in selecting imported foods. Before the instruction, 50.6% of total participants blamed the Korean government for the problems arising from imported foods; only 18.0% placed the blame on individuals or businesses importing from foreign countries. After the instruction, 39.3% had blamed the individuals or businesses importing from foreign countries. Furthermore, 36.0% had disapproved of the foods that are imported from China before the instruction, while 32.6% found objectionable the views on the illegally distributed foods; 29.2% criticized the junk foods that target children (after the instruction). In addition, the level of participant satisfaction via-a-vis imported foods safety supervision had improved from $2.76{\pm}1.59$(before the instruction) to $3.37{\pm}1.58$(after the instruction). The results indicate that consumers are concerned with the imported foods that contain adulterated or forbidden substances and the illegally distributed foods from foreign countries. Thus, consistent and informative educational programs on imported food safety could help consumers in choosing safer products, resulting in an improvement in the consumer confidence with respect to imported foods.