• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.1-13
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• 2021

Previous studies have found the significant adverse effects of coronavirus disease 2019 (COVID-19) on stock returns and volatility. The effects varied with the confirmed cases and deaths. However, the extent of the effects have never been measured exactly. This study proposes a measurement model for the COVID-19 effects. In the proposed model, stock returns in the COVID-19 period are weighted averages of pre-COVID-19 normal returns and COVID-19-induced returns. The effects are measured by the contributing weights of the COVID-19-induced returns. Kalman filtering is used to estimate the model for the world and Chinese markets, in combination with 10 markets - five most affected countries (United States, India, Brazil, Russia, and France) and five best recovering countries (Hong Kong, Australia, Singapore, Thailand, and South Korea). The sample returns are daily, obtained from the closing Morgan Stanley global investable market indexes. The full period is from September 24, 2018, to October 30, 2020, whereas the COVID-19 period is from November 18, 2019, to October 30, 2020. The contributing weights are significant and close to 100% for all markets. The COVID-19-induced returns replace the pre-COVID-19 normal returns; they are negatively auto-correlated and highly volatile. The COVID-19-induced returns are new normal returns in the COVID-19 period.

• 무역학회지
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• 제45권5호
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• pp.303-324
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• 2020

The objective of this study is to verify the effect of the market orientation, CEO capacity, and environmental characteristics of overseas markets on the performance of overseas expansion among the success factors of domestic overseas expansion companies. For this purpose, employees of domestic overseas companies based in the Seoul metropolitan area were surveyed, and the hypothesis test was conducted. As a result of the verification, among the contributors to overseas advancement of domestic overseas companies, the factors of CEO capacity, overseas business_education ability, market environment and market size have a significant positive effect on the financial performance of overseas expansion. However, market-oriented factors were found to have no significant effect on the financial performance of overseas expansion. Among the contributors to overseas advancement of domestic overseas companies, the market-oriented factor, the customer-oriented factor, has a significant positive effect on the non-financial performance of overseas expansion. However, factors in CEO competency and environmental characteristics in overseas markets do not have a significant positive effect on the non-financial performance of overseas expansion.

• Asian Journal of Business Environment
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• 제13권4호
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• pp.19-28
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• 2023

Purpose: Emerging markets under industrialization have become increasingly influential over the global natural-resource transactions. However, their average deal completion rates have been relatively low. The international business (IB) literature regards the low rate as evidence of 'double hurdle', the extra disadvantages in doing overseas business for firms from developing countries. Because legitimacy building mitigates liability of foreignness, we argue that an acquirer's environmental responsibility effectively builds legitimacy. Research design, data and methodology: Stakeholders in the host country spread the acquirer's environmental responsibility so that, by raising legitimacy, they may strengthen the link between environmental responsibility and deal completion. Our dataset consists of the 608 cross-border acquisition deals announced by the 196 firms in Brazil, Russia, India, and China over 2008-2019 period. Results: A logit regression result confirms that environmental responsibility increases the likelihood of acquisition deal completion. Also, host-market stakeholders positively moderate the relationship between environmental responsibility and the likelihood of deal completion. Conclusions: Overall, this study contributes to the IB literature by identifying environmental responsibility as a key approach to lowering the double hurdle in internationalization of firms in emerging markets. Any emerging multinationals interested in the foreign, brownfield entries to the natural-resource industries must enhance the environmental responsibility, which turns out extremely important.

• 한국지역지리학회지
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• 제2권1호
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• pp.133-150
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• 1996

농촌의 최하위 계층 중심지에 발달한 정기시의 이동상인과 소비자의 공간적 특성을 파악하기 위하여 오래 전부터 개시(開市)된 옥천군 청산 정기시를 대상으로 출시자를 조사하여 분석한 결과 다음과 같은 점이 밝혀졌다. 이동상인은 장년 내지 노년층으로 구성되어 있으며, 일용잡화와 농산물을 취급하고, 정기시 출시(出市)의 주된 유형은 청산$\rightarrow$원남$\rightarrow$보온의 유형과 청산$\rightarrow$영동$\rightarrow$용산의 유형이다. 상인의 거주지는 정기시가 입지한 지역이 가장 많고 이어서 인접해 있는 하위 중심지인 청성면, 상위계층 중심지인 보은 영동읍과 대전시, 그리고 보은군 원남면으로, 이들은 정기시를 매일 자기 집에서 5일에 3일 이상 출시하거나 특정한 하나의 정기시만을 5일에 하루 출시하는 형태를 취하고 있다. 정기시를 이용하는 소비자는 $30{\sim}50$대가 대부분이고, 한달에 $2{\sim}6$회 정기시에서 재화를 구입하며, 이용하는 교통수단은 주로 버스이다. 그리고 생활필수품을 구입하기 위하여 출시하는데, 구입하는 상품은 주로 식료품이고 전문계도 고차 중심지보다 이 지역의 상위 중심지인 청산에서 구입하는데 이는 타 지역과 교통이 불편하고 거리도 밀어 상품을 구입할 매 비용이 추가되며, 상품을 구입한 후에도 아프터서비스를 받는데에도 불리하기 때문이다. 그러나 청산 정기시에서 구입하지 못하는 선매재나 전문재는 거리가 가까운 보은읍보다는 상위 중심지인 영동읍이나 대전시에서 구입하고 있다. 최하위 중심지의 정기시는 농촌인구의 감소, 주민의 소득증대와 생활수준의 향상, 중심지의 상설 상업시설의 등장, 유통기구의 변화, 교통기관의 발달 등 정기시의 외적 환경들이 변화됨에 따라 이동상인의 출시형태가 변화되었으나 상대적으로 교통이 불편한 지역의 소비자는 편의(便宜) 선매재(選買財)뿐만 아니라 전문재(專門財)도 최저차 중심지에서 많이 구입하고 있다는 점이 밝혀졌다.

• 산경연구논집
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• 제4권1호
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• pp.11-14
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• 2013

Purpose - The objective of this paper is to explain how the Chinese distribution market will continue to bring tremendous business opportunities to commercial enterprises given the relatively strong economic fundamentals and substantial government-led measures for boosting domestic demand. Research design, data, and methodology - The study conducted a survey on China's 2011 retail market data. After empirically analyzing the data on retail sales, online retail markets, and franchises, we believe that online retailing in China will maintain its growth momentum. Results - This study shows that 2012 is expected to be a challenging year for the retail sector, as both external and internal pressures are likely to persist. Some of the major challenges facing retailers in China are mentioned below. Conclusions - Retailers in China face several major challenges. First, the uncertain economic outlook is having a considerable impact on China's retail market. Second, China's retailers face an unfair competition environment. Third, they are suffering the impacts of product safety problems.

• 유통과학연구
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• 제11권9호
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• pp.31-34
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• 2013

Purpose - This paper aims to explain that the Chinese distribution market will continue to bring tremendous business opportunities to commercial enterprises, given the relatively strong economic fundamentals and substantial government-led measures to boost domestic demand. Research design, data, methodology - A survey was conducted on China's retail market data during 2012. By empirically analyzing the data for retail sales of online markets and franchises, we conclude that the online retail market in China will continue to grow. Results - Based on data from 2012, 2013 is expected to be a challenging year for the retail sector, as both external and internal pressure is likely to persist. This paper outlines some major challenges facing retailers in China. Conclusions - The study shows that retailers in the Chinese market will face some major challenges: 1) the Chinese retail market is considerably affected by an uncertain economic outlook 2) an unfair environment of competition exists and 3) product safety is a serious issue. However, in the future, China's retail market will continue to bring tremendous business opportunities to commercial enterprises, given the relatively strong economic fundamentals and substantial government-led measures to boost domestic demand.

• 한국포장학회지
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• 제7권2호
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• pp.6-11
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• 2001

국내 무의 유통 및 포장실태를 조사하고자 1999년 11월부터 2000년 4월까지 생산지별로 전북, 강원지역의 무에 대해 산지, 소비지를 대상으로 출하처, 출하방법을 조사하였고 품위의 경우는 태백, 경기와 청양 지역을 중심으로 개당 무게, 길이, 폭, 높이 및 부피를 조사하였으며 소매단계 포장단위, 포장재를 소비지역의 대형 소비처를 중심으로 조사하였다. 유통 및 거래관행은 산지에 따라서 재배기간 및 출하방법이 달랐다. 출하처나 출하방법도 전북과 강원 지역간에 차이가 심한 것으로 나타났다. 지역별로 품위를 조사한 결과. 태백산 무에서 부피 편차가 다른 지역에 비해 큰 것으로 나타났다. 산지 포장화 실태는 포장농가에서는 강원지역 고랭지 무를 중심으로 이뤄지고 있고 직거래(백화점 등 유통업체 또는 농협 물류센터의 계통출하)시 8kg 골판지 박스나 PE대($3{\sim}4$포기용)를 Wooden-Collar에 적재하고 있으며 생산자 단체를 중심으로 포장화가 시도되고 있다. 경제성 분석결과 산물 출하가 포장 출하에 비해 더 경제적이었다. 포장화율을 높이기 위해서는 박스구입비, 상하차비 등을 지원하는 방안이 적극 검토되어야 한다고 사료되었다.

• 산경연구논집
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• 제10권10호
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• pp.45-51
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• 2019

Purpose - The purpose of this study was to propose a win-win development plan for not only suppliers of delivery applications but also traditional market vendor companies and delivery riders by analyzing existing delivery models and presenting a new delivery model to enhance competitiveness of the traditional market using delivery apps. Research desgin, data, and methodology - Specifically, small retailers, such as traditional markets and supermarkets, presented a compromised delivery model that utilizes the platform of specialized delivery app service providers for order reception, and that the delivery is delivered by delivery systems jointly hired by Vendor companies, such as franchising companies. To validate the significance of the trade-off delivery model, a cost-benefit analysis was conducted by those involved in the delivery application. Results - From the perspective of suppliers of specialized delivery applications, it is analyzed that the use of specialized delivery applications in traditional markets will be a new market opportunity for service providers to achieve increased sales. It is expected that consumer choice and satisfaction will be increased as convenience and accessibility of traditional market businesses that were available only through direct visit from the user side of the delivery application will be expanded. From the standpoint of delivery application franchises, it is analyzed that they can seek to increase sales and increase customer service as well as ease labor cost burden due to joint employment of delivery riders. The delivery rider will be able to seek to improve customer service due to job security, wage stability, risk reduction and overheated competition due to direct employment. Conclusion - In conclusion, the compromised delivery model solved the problems raised in the preceding study conducted on delivery application suppliers, users, franchises, and riders to establish that it could be a strategic alternative to increasing sales and expanding detailed rights for the self-employed in the traditional market, which are experiencing difficulties in management. However, the adoption of a compromise delivery model requires social consensus from those involved in the delivery application and requires legal, institutional and policy support, which will require continued follow-up research on the delivery model in the future.

• Journal of Sport and Applied Science
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• 제5권2호
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• pp.23-29
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• 2021

Purpose: The purpose of the study is to review the current states of new sports imported from foreign countries and to discuss strategic insights for promoting new sports which has been invented in Korea. Research design, data, and methodology: This study employed the qualitative approach, in which reviewed a related literature. First, the study selected flying disc, sports stacking, and T-ball as sample cases. This is because these new sports were recognized the prominent sports frequently played in physical education classes in Korea. Second, the study reviewed prior studies in the field of distribution and marketing in order to determine the criteria of analysis and variables that frequently examined in distribution and marketing studies. Finally, the study confirmed such terminologies as research variables including new sport name, organization name, background of the invented sports, distributional channel, promotional activities and so forth. To collect data, the study search literature via academic search engine including DBpia, KISS, RISS, ScienceDirect, SAGE Journals, SpringerLink, and Taylor & Francis. Results: It was found that all of the imported new sports organized association and its nationwide branches to deliver their sprots to local schools and recreational markets. second, they targeted schools and sought to broaden their markets to recreational communities. Conclusions: In order to promote new sport invented in Korea, associations need to be systematically organized and mission should be clearly stated. In addition, creative methods for promotion need to be developed. Future directions were discussed.

• 한국유기농업학회지
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• 제22권1호
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• pp.25-46
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• 2014

Since organized living cooperative associations sold their environment-friendly agricultural products directly to independent consumers in the past, the general distribution channels such as wholesalers had difficulty in handling these products. However, the ratio of distribution via wholesale channel has been gradually increased as consumption of environment-friendly agricultural products has expanded. This study is to address vitalization of wholesale distribution for environment-friendly agricultural products by gathering previous statistical data and analysis. In addition, statistical analysis are conducted by utilizing surveys on forwarders, consumers for environment-friendly agricultural products. As a result, the products producers ship are distributed through dealers at producers sites, producers cooperatives, or food process companies, food companies, internet shopping malls, large-scale distribution companies, consumer groups such as living cooperative associations, direct outlets at consumers sites, or exports. Among the channels, the large-scale distribution companies and franchised special shops account for 47%, the general supermarkets 15.7%, and living cooperative associations 14.6% respectively. By utilizing the research results on producers and consumers, and the distribution weight by channels for environment-friendly agricultural products, the distribution channels for living cooperative associations, wholesale markets, and large scale distribution companies are compared and evaluated. As a result, the level of producers' and consumers' satisfaction for them is the lowest since the low selling price for producers and high distribution margins.