• Asia Marketing Journal
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• v.11 no.1
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• pp.73-92
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• 2009

Consumers influence other consumers' brand choice behavior by delivering a variety of objective or subjective information on a particular product, which is called WOM (Word-Of-Mouth) activities. For WOM activities, WOM senders should choose messages to deliver to other consumers. We classify the contents of the messages a consumer chooses for WOM delivery into two categories: Subjective (positive or negative) evaluation and objective information on products. In our study, we regard WOM senders' activities as a choice behavior and introduce a choice model to study the relationship between the choice of different WOM information (WOM with positive or negative subjective evaluation and WOM with objective information) and its influencing factors (information sources and consumer characteristics) by developing two bivariate Probit models. In order to consider the mediating effects of WOM senders' product involvement, product attitude, and their characteristics (gender and age), we develop three second-level models for the propagation of positive evaluations, of negative evaluations, and of objective information on products in an hierarchical Bayesian modeling framework. Our empirical results show that WOM senders' information choice behavior differs according to the types of information sources. The effects of information sources on WOM activities differ according to the types of WOM messages (subjective evaluation (positive or negative) and objective information). Therefore, our study concludes that WOM activities can be partially managed with effective communication plans influencing on consumers' WOM message choice behavior. The empirical results provide some guidelines for consumers' propagation of information on products companies want.

• Asia Marketing Journal
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• v.6 no.3
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• pp.59-81
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• 2004

Store loyalty is increasingly being recognized as a path to long-term business profitability. Customer contact employees deliver a service firm's promises and create an important image for the firm. A major purpose of this study is to investigate the effects of customer service and product value on store loyalty. In order to test research hypotheses, data were collected through surveys administered to 300 apparel store customers. Two hundred thirty nine usable data were used for the analysis. The findings of this research are as follows: First, a employee's voluntary service(EVS) has a positive impact on interpersonal r elationship, which then affects switching barrier and store loyalty. Second, a employee's regular service(ERS) has an influence on store satisfaction, which in turn affect store loyalty. Third, product value is shown to be a significant antecedent to store satisfaction, which have a direct effect on store loyalty. The study concludes with implications, contributions, and limitations of the research and the empirical findings of this research should be beneficial to marketing practitioners and retailing businessmen in developing effective marketing strategies.

• Asia Marketing Journal
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• v.6 no.3
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• pp.143-156
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• 2004

This case intorduced E-mart's business philosophy and vision, analyzed E-mart's outline of marketing strategy, and discussed its performance and future task. E-mart took the role of market pioneer by developing discount store market in Korea. It's mission was to provide substantial benefits to the customers by selling quality products at the lowest price in the market. For this purpose, E-mart has conducted a slogan of 'everyday low price discount store-E-mart'. Objective of E-mart's brand strategy was to be No. 1 discount store in Korea or to be a representative brand in the discount store market. To achieve this objective, E-mart has conducted various efforts such as construction of national network, realization of the lowest price, formation of the most reliable discount store image, establishment of competitive edge and so on. E-mart settled a new model for discount store in Korea and took the lead in expanding market potential. With these efforts, E-mart has maintained secure position as a leading company in the discount store market.

• Asia Marketing Journal
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• v.9 no.1
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• pp.43-72
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• 2007

The recent development of industrial marketing explains the near absence of research on brand equity in business-to-business markets. With recent change, industrial companies have shifted from a production focus to a customer focus. Industrial brand concept is rapidly developing. The basic purpose of this study is to investigate industrial brand equity affecting the result of business relationship between industrial buyers and suppliers. This research presented a comprehensive constructive model consisting of components of industrial brand equity, and then propose the research model base on prior researches and studies about relationships among components of industrial brand equity. Data were gathered from respondents who work in industrial buying center. For this study, Data were analyzed by SPSS 11.0 and AMOS 5.0. The results of this research analysis were as fallow. Industrial brand loyalty was positively related with perceived value, perceived quality, brand awareness, relationship satisfaction, switching cost, relationship commitment. Also, Industrial corporate performance and purchasing value was positively related with brand loyalty and relationship commitment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.51-63
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• 2023

The purpose of this study is to develop and implement a secondary teacher training program based on the TPACK model to strengthen the capacity of teachers of youth entrepreneurship education in the context of the increasing importance of entrepreneurship as a future competency, and to provide theoretical and practical implications based on it. To this end, a teacher training program was developed through the process of analysis, design, development, implementation, and evaluation based on the ADDIE model, and 22 secondary school teachers in Gangwon Province were trained and the effectiveness and validity were analyzed. First, the results of the paired sample t-test of TPACK in entrepreneurship education conducted before and after the program showed statistically significant improvements in all sub-competencies. Second, the satisfaction survey of the training program showed that the overall satisfaction was high with M=4.83. Third, the validity of the program was reviewed by three experts, and it was found to be highly valid with a validity of M=5.0, usefulness of M=4.7, and universality of M=5.0. Based on the results, it is suggested that in order to expand entrepreneurship education, opportunities for teachers' holistic capacity building such as TPACK should be expanded, teachers' understanding and practice of backward design should be promoted, and access to various resources that can be utilized in entrepreneurship education should be improved.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.229-249
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• 2022

This paper investigates machine learning models for predicting the designation of administrative issues in the KOSDAQ market through various techniques. When a company in the Korean stock market is designated as administrative issue, the market recognizes the event itself as negative information, causing losses to the company and investors. The purpose of this study is to evaluate alternative methods for developing a artificial intelligence service to examine a possibility to the designation of administrative issues early through the financial ratio of companies and to help investors manage portfolio risks. In this study, the independent variables used 21 financial ratios representing profitability, stability, activity, and growth. From 2011 to 2020, when K-IFRS was applied, financial data of companies in administrative issues and non-administrative issues stocks are sampled. Logistic regression analysis, decision tree, support vector machine, random forest, and LightGBM are used to predict the designation of administrative issues. According to the results of analysis, LightGBM with 82.73% classification accuracy is the best prediction model, and the prediction model with the lowest classification accuracy is a decision tree with 71.94% accuracy. As a result of checking the top three variables of the importance of variables in the decision tree-based learning model, the financial variables common in each model are ROE(Net profit) and Capital stock turnover ratio, which are relatively important variables in designating administrative issues. In general, it is confirmed that the learning model using the ensemble had higher predictive performance than the single learning model.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.187-203
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• 2022

As the economic, social, and environmental problems of the local community reach a serious level, our society is realizing the need to foster young talents who discover opportunities in local issues through entrepreneurship education and create social values through creative challenges. However, entrepreneurship education programs are generally focused on commerciality, so customized education programs to solve regional problems are insufficient. Therefore, this study aimed to develop a community problem-solving entrepreneurship curriculum. In this study, a competency based curriculum model was applied to develop the curriculum, and regional problem-solving entrepreneurship competencies were derived through expert advice from a total of 10 people. In the process, the Delphi methodology was additionally used to reduce the possibility of errors in the competency model. As a result of the study, a total of 23 regional problem-solving entrepreneurship competencies were confirmed, and knowledge(K) - skill(S) - attitude(A) by competency consisted of 5, 9, and 9, respectively. By applying this to Dunham's problem-solving six-step model, modular learning support measures were developed in the order of phase 1(problem discovery), phase 2(problem analysis), phase 3(plan), phase 4(measure), and phase 5(evaluation). This study is meaningful in that it integrated theory and practice by developing specific entrepreneurship curriculum and learning support measures based on the theoretical model devised in social welfare. In addition, it has implications in that it developed a regional problem-solving entrepreneurship competency model based on expert advice and proposed a specific curriculum based on this.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.127-142
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• 2022

According to social change, entrepreneurship education at university is drawing attention as a means to cultivate convergent creative competency required by the times. Currently, the number of entrepreneurship education at university is increasing every year, and quantitative expansion is taking place, but quality advancement of education remains a task. In this context, this study conducted an action research with the aim of revitalizing entrepreneurship education and upgrading quality, and developing a entrepreneurship education program suitable for general elective courses operated by universities. In the process of the study, first, through literature analysis related to entrepreneurship education at university, educational contents and teaching methods of entrepreneurship education were confirmed. Based on this, the IPA analysis was used to analyze the educational needs of students for entrepreneurship education contents and design a program that reflects this. The designed program was applied and operated to the entrepreneurship education of A University, and improvements were derived and improved by analyzing the opinions of learners in the action research process. The entrepreneurship education program developed through this study was composed as follows. The necessity of entrepreneurship education at the beginning of the lecture is sufficiently presented, and the knowledge necessary for start-up, including idea discovery and business model design, is delivered through theoretical lectures by teacher-centered method. In the second half of the lecture, students with similar interests are gathered into teams and learner-centered practical activities are operated. The contents of the activities include information on idea discovery, business model design, business plan and pitching. Practical activities for each team are conducted during class hours, and the professor advice on difficulties for each team.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.77-87
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• 2022

Previous literatures have provided growing evidence regarding the impact of leadership in enhancing follower creativity. Despite these ample evidences, a noticeable omission in this body of study is entrepreneurial leadership. The present study extends leadership·creativity research by developing a mediation-moderation model and investigating the key roles that innovation climate and psychological empowerment may play in the mechanism between entrepreneurial leadership and followers' individual creativity. Using a data of 161 SME's members, the results show that: (a) followers' psychological empowerment positively mediates the relationship between entrepreneurial leadership and individual creativity; (b) the impact of entrepreneurial leadership on followers' psychological empowerment through innovation climate is high (in other words, innovation climate positively moderates the relationship between entrepreneurial leadership and followers' psychological empowerment). This study gain more comprehensive insight of individual creativity and leader's entrepreneurial leadership, to foster more creative venture organizations. The findings of this study make several important implications to present venture·leadership·creativity knowledge. Future studies should examine a broad range of mediating or moderating processes through which context for innovation effects positively on individual creativity. Therefore, additional study is needed to test if the results of this research can be generalized across industry·firm types.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.133-145
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• 2023

This paper examines whether investors have adapted to the venture capital(VC) investment style. VC firms invest in privately held companies and generate returns by selling them after the lock-up period expires. We analyze the impact on stock prices before and after the lock-up period expiration, and compare the Cumulative Abnormal Return(CAR) between the past period(2015-2017) and the recent period(2020-2022) to investigate the effect of the second venture boom. The main findings are as follows. First, unlike in the past, stock price returns around the lock-up period expiration have been lower than the KOSDAQ index in recent years. Second, the impact on stock prices is significant for both 1-month and 12-month lock-up periods. Specifically, it is confirmed that stocks held by venture capital and professional investors with a 1-month lock-up period respond in advance to their information after the second venture boom. Finally, we find that there is a difference in CAR depending on whether or not the company received VC investment after the second venture boom. Based on our findings, we suggest that VC firms need to revise their exit strategies to improve performance. This includes finding ways to reduce information asymmetry and fees, as well as developing strategies to mitigate market volatility. Additionally, the current lock-up period for VCs should be reconsidered as it may increase the risk of stock price decline. We recommend that the government revise the scope and duration of lock-up periods to protect investors after IPO.