• Economic Analysis
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• v.26 no.3
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• pp.1-47
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• 2020

This paper surveys research since the 1990s on the ability of the yield spread and its components (i.e., expectation spread and term premium components) for future economic activity, and also conducts an empirical analysis of their forecasting ability using the yield data of Korean government bonds. This paper's survey, particularly for the US, shows that the yield spread has significant predictive power for some macroeconomic variables, but since the mid-1980s, its predictive power seems to have declined, possibly due to stronger inflation targeting. Next, this paper's empirical analysis using Korean data indicates that the yield spread, and the term premium component in particular, has significant predictive power for industrial production (IP) growth, consumer price index growth, and the IP gap. An out-of-sample analysis shows that the prediction equations are unstable over time, and that in predicting IP growth, the yield spread decomposition makes a significant contribution to the prediction of IP growth.

• Journal of Distribution Science
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• v.20 no.1
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• pp.1-11
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• 2022

Purpose: Increasing advancements in the technology industry are forcing people to become more accustomed to digital financial transaction activities. The need for fast and secure payment mechanisms has birthing new idea to digital financial transaction services. Along with increasing access to technology in digital payments, new service is developed in the form of digital wallets as the successor for electronic money. Research design, data and methodology: This research aims to find out whether using QR code as digital payment tool can build customer loyalty in consumers, especially to measure the factors of satisfaction, trust and commitment of customers to do payments with QR Codes. The QR code in this study is refer to the Quick Response Code Indonesian Standard (QRIS) which was officially implemented by Bank Indonesia starting on January 1, 2020 as a means of payment for digital transactions nationally. The research method uses a quantitative approach by way of surveying questionnaires using Likert scale of 100 samples. Results: The hypothesis analysis proved that the variables of satisfaction, trust and commitment together have positive and significant influences on customer loyalty. Conclusion: This research found that there are high interest in Millennials to do transaction using QRIS because it is deemed to be more easy, quick and safe. If a customer achieves a level of loyalty in the usage of digital transaction using QRIS then cashless society lifestyle can be considered successful and can be used in the future.

• The Korean Journal of Franchise Management
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• v.9 no.2
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• pp.31-38
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• 2018

Purpose - In recent years, many companies include franchises have acquire customers by making an online stores and they are carrying out permission marketing activities with e-mail and SMS. Permission marketing requires voluntary customer approval for receiving commercial messages such as cross-selling and upselling. Therefore, it is necessary for the business to induce the customer's acceptance. The purpose of this study is to examine which type of different messages can affect higher in consumer persuasion. Thus, we investigated the impact of descriptive norm message on intention of reception in an online store context, and its interaction with chronic regulatory focus. Research design, data, and methodology - This study hypothesized that the descriptive norm message would affect positive influences to consumers' intension of reception. Specially, this study inquired into whether the interaction effect between descriptive norm and regulatory focus. To verify the hypothesis, we conducted 2 × 2 between-subject factorial design with message type (general message and descriptive norm message) and regulatory focus(promotion focus and prevention focus) as independent variables. Participants of the experiment were assigned to one of 2 kind experimental situations randomly according to characteristics of message type. A total of 131 participants (descriptive norm message: 65, general message: 66) responded for this study. The data were analyzed using frequency analysis, exploratory factor analysis, and two-way ANOVA. Result - The results of the study are as follows. First, we found main effects of the descriptive norm message. The intention of reception were significantly higher in the descriptive norm message rather than general message as in previous researches. Second, interaction effect between the descriptive norm message and regulatory focus was significant. The prevention focus (vs. promotion focus) were hight in a positive behavior intention when the descriptive norm message was given. Conclusions - This study verifies the main effect and interaction effect of descriptive norm message and regulatory focus on the consumers' intention of reception in permission marketing, and persuasive message in the online store context. The results of this study will provide various advantages to companies that want to establish long lasting relationship with customers by carrying out permission marketing in the future.

• The Journal of the Korea Contents Association
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• v.22 no.5
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• pp.338-349
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• 2022

The purpose of this study is to verify the factors that have the impact on Vietnamese female consumers' attitude towards PPL and purchase intention on products in K-Drama. Additionally, the current study aims to discover the moderating effect of usual perception on PPL and the effect of usual flow level on the effects of PPL informativeness and intrusiveness. The existing PPL related research have focused on the effect of the domestic contents on the domestic consumer. However, it is significant that this study examines the impacts of domestic contents on foreign audience' purchase intentions on advertised products. The empirical results are as follows. First, informativeness has positive impacts on attitudes towards PPL and purchase intentions on products. Second, intrusiveness has negative impacts on the outcome variables. Third, attitudes towards PPL shows positive effect on purchase intentions on products. Lastly, the research revealed some interesting evidences on the moderating effects of usual perception on PPL and usual flow level on the main effects.

• Analyses & Alternatives
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• v.8 no.1
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• pp.59-85
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• 2024

This study examines the impact of the development of the artificial intelligence (AI) industry on the economic growth of South Korea. The study uses variables such as the revenue and patent applications of AI-related companies, as well as industry-specific total factor productivity and GDP, to estimate the effects. The results suggest that the growth of the AI industry has a positive effect on the economic growth with a lag of about one year. Specifically, the effect of government AI revenue on GDP growth appears to be greater than that of private companies or consumer-focused AI revenue. This indicates that government policies aimed at promoting the diffusion of the AI industry have had significant effects. The study notes that the period covered by the AI industry survey data is relatively short, and there is a lack of detailed data for the manufacturing sector. I suggest that further improvements and accumulation of data could lead to more robust results.

• Journal of the Korean Society of Food Science and Nutrition
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• v.39 no.1
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• pp.146-153
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• 2010

The objectives of this study were to explore food-related lifestyle segments of the older consumers, to identify its socio-demographic characteristics, and to investigate the differences in variables regarding health beliefs. A survey was conducted of adults 55 years of age and older living in Seoul, South Korea from March 28 to April 10, 2007. Out of the 500 distributed questionnaires, 361 were retained for final analysis: a response rate of 72.2%. As a result of cluster analysis, five consumer segments were identified; health-managing group, diet-unconcerned group, convenience-oriented group, taste-oriented group, unpracticed group. Significant differences were found among the five segments in terms of socio-demographic characteristics and variables regarding health beliefs (i.e., perceived self-efficacy, perceived barriers, perceived benefits). In the health-managing group and taste-oriented group, mean scores of perceived self-efficacy (p<0.001) and perceived benefits (p<0.001) were significantly higher than other groups. However, in the diet-unconcerned group and convenience-oriented group, the mean scores of perceived barriers (p<0.01) were significantly high. This study shows that foodservice operators targeting the older consumers should consider characteristics of each segment to develop a customized program.

• Journal of Families and Better Life
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• v.27 no.6
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• pp.65-82
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• 2009

The following research aimed to determine the effect of stress among middle school students on their addiction to the Internet. This research's target was a group of male students who had a high probability of getting addicted to the Internet while playing c/t games. The study distributed 357 questionnaires and used 340 copies, which meant discarding 17 copies that were considered inadequate. The research results are as follows: First, there appeared subordinate factors in the stress suffered by the students. These included stress from their families, from conflicts with their teachers, from the living environment, current schoolwork and future course in college, insecurity over their physical appearance, bullying from other students, and relationships with friends. Among these factors, stress caused by conflicts with teachers and family was the most frequently cited, while stress from their friends was the least cited. The motive in using the Internet was found to be bound with several factors. These include: a form of diversion, a way to communicate with others, a means in coping with loneliness, a source of news and information, a form of passing away time, a kind of habit, and others. Among these motives, passing away time and indulging a habit were cited the most, followed by news and information search, and a form of diversion. Second, as a subordinate factor in Internet addiction, the following were cited: formation of tolerance, health issues, occurrence of problems related to daily life, satisfaction or a pleasant sensation, withdrawal, cover-up on the use of the Internet, and formation of virtual interpersonal relationships, and others. Among these, the formation of tolerance came out the highest, followed by health issues, daily life, and problems related to daily life. Third, in terms of the effects of stress on the motive in using the Internet, the research found that the more the students felt stressed out by conflicts with their teachers and family, the more they tended to use the Internet to communicate with others, to cope with loneliness, to obtain newsI and information, to passawaytime, and to indulge a habit Also, the more they felt stressed out by the living environment, the more they tended to use the Internet to communicate with others, to cope with loneliness, and use news and information. The more they felt stressed out by their schoolwork and future course in college, they tended to use the Internet as a form of diversion and to secure news and information. The more they felt stressed out by their insecurity over their physical appearance and being victimized by bullies, the more they tended to use the Internet to cope with loneliness. Fourth, as for the effect of several variables on student addiction to the Internet, the study found that the more students felt stressed out by their living environment, by schoolwork and future course in college, by their physical appearance, and bullying from other students, the more they used the Internet as a form of diversion, a communication tool, and as a means of passing away time or indulging a habit. The study came up with the finding that the more the students used the computer and the Internet, the probability of their getting addicted to the Internet got higher.

• Archives of design research
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• v.18 no.4 s.62
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• pp.95-104
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• 2005

The purpose of this study is to estimate the determinants of product design and analyze the impacts of product design on quality competitiveness, product reliability, and consumer satisfaction in an attempt to provide a foundation for the theory of design management. For this empirical analysis, this study has derived the relevant measurement variables from a survey on 400 Korean manufacturing firms during the period of $August{\sim}October$ 2003. The empirical findings are summarized as follows: First, the determinants of product design are very significantly (at p<0.001) estimated to be the R&D capability, the level of R&D expenditure, the level of innovative activities(5S, TQM, 6Sigma, QC, etc.). This empirical result can support Pawar and Driva(1999)'s two principles by which the performance of product design and product development can be simultaneously evaluated in the context of CE(concurrent engineering) of NPD(newly product development) activities. Second, the hypothesis on the causality: product design${\rightarrow}$quality competitiveness${\rightarrow}$customer satisfaction${\rightarrow}$customer loyalty is very significantly (at p<0.001) accepted. This implies that product design positively affects consumer satisfaction, not directly but indirectly, by influencing quality competitiveness. This empirical result of this study can also support the studies of for example Flynn et al.(1994), Ahire et at.(1996), Afire and Dreyfus(2000) which conclude that design management is a significant determinant of product quality. The aforementioned empirical results are important in the following sense: the empirical result that quality competitiveness plays a bridging role between product design and consumer satisfaction can reconcile the traditional debate between QFD(quality function development) approach asserted by product developers and conjoint analysis maintained by marketers. The first empirical result is related to QFD approach whereas the second empirical result is related to conjoint analysis. At the same time, the empirical results of this study can support the rationale of design integration(DI) of Ettlie(1997), i.e., the coordination of the timing and substance of product development activities performed by the various disciplines and organizational functions of a product's life cycle. Finally, the policy implication (at the corporate level) from the empirical results is that successful design management(DM) requires not only the support of top management but also the removal of communication barriers, (i.e. the adoption of cross-functional teams) so that concurrent engineering(CE), the simultaneous development of product and process designs can assure product development speed, design quality, and market success.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.233-244
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• 2018

The purpose of this study was to improve awareness of network marketing business in South Korea, which takes a quite negative view of network marketing, to raise awareness of "starting up a business" as independent business owners, to assist them in building their own subjecthood in network business and entrepreneurial identity, and ultimately to give some suggestions on how to improve their self-directed entrepreneurial competency and the quality of their business management. To make an empirical analysis of 121 independent business owners of Korean native network marketing, the personal and background variables of the entrepreneurs were selected as independent variables, and entrepreneurship was selected as a mediator variable. The selected dependent variables were financial and non-financial business performances. A multiple regression analysis was conducted by inputting the variables. The findings of the study were as follows: It produced an effect of more financial performance when the innovation of the independent business owners of network marketing was better, and this innovation was possible to have only when they improved in entrepreneurial efficacy and locus of control. In contrast, only authenticity had an effect on boosting non-financial business performance among the factors of entrepreneurship. To have authenticity, it's necessary to strengthen achievement needs and awareness of locus of control among the personal characteristics of the independent business owners of network marketing. Among the factors of entrepreneurship, there was better authenticity when their personal networks were broader among their background characteristics. In addition, self-efficacy that was one of personal characteristics made a direct contribution to the enhancement of non-financial performance. As a result, independent business owners of network marketing are required to hold a strong belief in their own business, to be active in business activities and to have a high efficacy as spontaneous principal agents, and they also are required to have more adventurous, planned, active and propulsive achievement needs that enable them to attain the goals of their business and keep moving forward. Besides, they should foster their locus-of-control competency that is to control, endure and be responsible for a variety of phenomena or incidents that they face, and there will be better financial performance or non-financial performance only when they demonstrate their self-belief and confidence and when they have faith in and conviction about themselves. For independent business owners of network marketing, a consumer-centered thinking that entails authenticity and trustworthiness and touches the hearts of customers is a more effective marketing strategy than an egocentric thinking as sellers when they approach customers. And they are expected to make progress in terms of the quality of business management when their business attachment or enthusiasm is great enough to match their own efficacy with entrepreneurial identity or strike a balance between them.

• Journal of Global Scholars of Marketing Science
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• v.20 no.2
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• pp.188-198
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• 2010

This study attempts to examine the influence that negative WOM (NWOM) has in an online context. It specifically focuses on the impact of the service failure description and the perceived intention of the communication provider on consumer evaluations of firm competence, attitude toward the firm, positive word of mouth and behavioral intentions. Studies of communication persuasiveness focus on "who says what; to whom; in which channel; with what effect (Chiu 2007)." In this research study, we examine electronic web posting, particularly focusing on two aspects of "what": the level of service failure communicated and perceived intention of the individual posting. It stands to reason electronic NWOM that appears to be trying to damage a product’s or firm's reputation will be viewed as more biased and will thus be considered as less credible. According to attribution theory, people search for the causes of events especially those that are negative and unexpected (Weiner 2006). Hennig-Thurau and Walsh (2003) state "since the reader has only limited knowledge and trust of the author of an online articulation the quality of the contribution could be expected to serve as a potent moderator of the articulation-behavior relationship. We therefore posit the following hypotheses: H1. Subjects exposed to electronic NWOM describing a high level of service failure will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM describing a low level of service failure. H2. Subjects exposed to electronic NWOM with a warning intent will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM with a vengeful intent. H3. Level of service failure in electronic NWOM will interact with the perceived intention of the electronic NWOM, such that there will be a decrease in mean response on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention from electronic NWOM with a warning intent to a vengeful intent. The main study involved a2 (service failure severity) x2 (NWOM with warning versus vengeful intent) factorial experiment. Stimuli were presented to subjects online using a mock online web posting. The scenario described a service failure associated with non-acceptance of a gift card in a brick-and-mortar retail establishment. A national sample was recruited through an online research firm. A total of 113 subjects participated in the study. A total of 104 surveys were analyzed. The scenario was perceived to be realistic with 92.3% giving the scenario a greater than average response. Manipulations were satisfactory. Measures were pre-tested and validated. Items were analyzed and found reliable and valid. MANOVA results found the multivariate interaction was not significant, allowing our interpretation to proceed to the main effects. Significant main effects were found for post intent and service failure severity. The post intent main effect was attributable to attitude toward the firm, positive word of mouth and behavioral intention. The service failure severity main effect was attributable to all four dependent variables: firm competence, attitude toward the firm, positive word of mouth and behavioral intention. Specifically, firm competence for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Attitude toward the firm for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Positive word of mouth for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Behavioral intention for electronic NWOM describing high severity of service failure was lower for electronic NWOM describing low severity of service failure. Therefore, H1a, H1b, H1c and H1d were all supported. In addition, attitude toward the firm for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Positive word of mouth for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Behavioral intention for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Thus, H2b, H2c and H2d were supported. However, H2a was not supported though results were in the hypothesized direction. Otherwise, there was no significant multivariate service failure severity by post intent interaction, nor was there a significant univariate service failure severity by post intent interaction for any of the three hypothesized variables. Thus, H3 was not supported for any of the four hypothesized variables. This study has research and managerial implications. The findings of this study support prior research that service failure severity impacts consumer perceptions, attitude, positive word of mouth and behavioral intentions (Weun et al. 2004). Of further relevance, this response is evidenced in the online context, suggesting the need for firms to engage in serious focused service recovery efforts. With respect to perceived intention of electronic NWOM, the findings support prior research suggesting reader's attributions of the intentions of a source influence the strength of its impact on perceptions, attitude, positive word of mouth and behavioral intentions. The implication for managers suggests while consumers do find online communications to be credible and influential, not all communications are weighted the same. A benefit of electronic WOM, even when it may be potentially damaging, is it can be monitored for potential problems and additionally offers the possibility of redress.