• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.2
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• pp.9-18
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• 2024

Purpose: This study compares Korean and Chinese consumers on the impact of customer equity on trust. Although there have been many studies regarding the impact of customer equity, most of them are limited to the retail and banking industry and mostly compare East and West cultures. Therefore, this study compares Korea and China within East Asia in the hotel industry. Research design, data and methodology: Based on reviews in the literature, this study explores different effects of customer equity on brand trust between Korea and China. To confirm the hypotheses, the research collected survey data from 186 Korean and 155 Chinese respondents. After confirming reliability and validity of measures, this study conducted a multiple regression to test proposed hypotheses. Results: The results of the study showed that all of three customer equities influences on trust positively in the hotel industry. Regarding comparing Korea and China, brand equity has stronger impact on trust in Chinese customers than South Korean customers, on the other hand, value equity and relationship equity had a slightly stronger positive effect in South Korea than in China. Conclusions: This study found significant differences between Korean and Chinese customers in the hotel industry. These results show that even two countries in the same region of East Asia, South Korea and China, are different. Also, this finding suggests that hotel management level should consider differentiating their marketing strategies for Korean and Chinese customers.

• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.3
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• pp.14-26
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• 2015

A wind speed forecast is a crucial and sophisticated task in a wind farm for planning turbines and corresponds to an estimate of the expected production of one or more wind turbines in the near future. By production is often meant available power for wind farm considered (with units KW or MW depending on both the wind speed and direction. Such forecasts can also be expressed in terms of energy, by integrating power production over each time interval. In this study, we technically focused on mathematical modeling of wind speed and direction forecast based on locally data set gathered from Aghdasiyeh station in Tehran. The methodology is set on using most common techniques derived from literature review. Hence we applied the most sophisticated forecasting methods to embed seasonality, trend, and irregular pattern for wind speed as an angular variables. Through this research, we carried out the most common techniques such as the Box and Jenkins family, VARMA, the component method, the Weibull function and the Fourier series. Finally, the best fit for each forecasting method validated statistically based on white noise properties and the final comparisons using residual standard errors and mean absolute deviation from real data.

• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.1
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• pp.1-19
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• 2023

Purpose - In this study, we aimed to theorize blockchain-based social media platform users' commitment by examining the impact of their perceived justice of the token reward system. In addition, this study applied psychological ownership theory to verify the underlying mechanism between users' perceptions of justice and their commitment to the platforms. Research design, data, and methodology - To empirically test our conceptual framework in the study, we collected data through a web-based survey approach from the responses of 385 users who had experience with blockchain-based social media platforms. We employed a structural equation modeling approach to empirically test our proposed hypotheses. Result - The results indicated that distributive justice and informational justice have positive effects on user commitment. The results also showed that psychological ownership plays an important role in mediating the relationship between users' sense of distributive justice and commitment, and between procedural justice and commitment. The findings provided a better understanding of the sense of justice and user commitment in a blockchain-based social media environment. Conclusion - This study represents a preliminary attempt to theorize and empirically examine blockchain-based social media platform users' commitment. This study provided important contributions to the literature on how the effect of users' sense of justice in a reward system affects their commitment to blockchain-based social media platforms.

• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.3
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• pp.37-45
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• 2023

Purpose - This research contributes to the existing literature by shedding light on a unique intersection of creativity and leadership, carving out a niche that calls for further exploration. Thus, this study addresses the questions regarding how creative leadership manifests within the context of art education and what the distinct types of business leadership from applying creative leadership principles are in art education? Research design, data, and methodology - This research is made up of two stages to collect textual data from the literature. The first stage involves screening titles and abstracts to weed out studies that overtly lack alignment with the research's focus. The second stage involves a full-text review of the remaining studies to ascertain their suitability based on the research objectives. Result: There are four types of business leadership on Creative Leadership in Art Education, such as Visionary Artistic Leadership, Collaborative Expressionist Leadership, Adaptive Impressionist Leadership, Experimental Abstract Leadership, Experimental Abstract Leadership. Conclusion - The research could conclude that 'Visionary Artistic Leadership' offers practitioners a compelling strategy for igniting innovation within their teams and organizations. HR practitioners can foster a culture of daring creativity by encouraging leaders to embrace visionary thinking. To implement this style, HR professionals can nurture individuals strongly inclined towards innovative ideation.

• East Asian Journal of Business Economics (EAJBE)
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• v.4 no.4
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• pp.24-32
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• 2016

There hardly have been support policies for small wholesale vendors or any materials such as proper statistical standards and figures compared to diversity of support policies and size of budget for small and medium manufacturing business. The biggest concern coming from it is that there have never been any policies for small and medium wholesale vendors. This study proposes some ways to improve support policies through investigating the current status of those vendors as their true values haven't been properly recognized, while diverse support systems have been devised for manufacturing business thanks to the traditional industrial development process. According to the study on support policies for domestic and international small and medium wholesale vendors, I realized that those vendors need a policy to ensure them to be promptly adjusted to the rapidly changing distribution environment and to be competitive to access to the global distribution market to finally become hidden champions through systematical operations of small and medium wholesale vendors and implementing educational business through sales management. Therefore, I propose five ways to improve support policies for small and medium wholesale vendors by considering social and economic value, systematizing small wholesalers and scaling small and medium wholesale vendors, reinforcing support for wholesalers, support policies for new online market opening and offline market opening.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.1
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• pp.1-11
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• 2024

Purpose: This study empirically examines the relations among corporate performance, technology, and corporate capabilities for service companies to find factors that could affect the competitiveness of the service industry. Most study on technology in the service industry have been conducted in developed countries, and yet there exist not sufficient empirical reviews. Research design, data and methodology: This paper, using rare empirical data, examines Korea's service industry and aims to make an academic and managerial contribution to the understanding of the relation between corporate competence and performance. This study analyzes 567 Korean Domestic Companies in Non-manufacturing and Service Industry, using the 2020 Detailed Survey of Venture Businesses (2500) data. Frequency analysis, correlation analysis, and regression analysis are performed. Results: Results show, Hypothesis 1 that internal competence has positive influence on technological strength, is supported. However, Hypothesis 2 that technological strength mediates between internal competence and business performance, Hypothesis 3 that external competence has positive influence on technological strength and Hypothesis 4 that technological strength mediates between external competence and business performance are all partially supported/rejected. Conclusions: This study suggests that technological strength is an important factor that affects both market share and sales. And mediating effect of technology strength emphasized in market share. However, in managing sales, more cautious approach and a more detailed analysis are needed..

• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.4
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• pp.91-107
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• 2013

The main objective of this study was to test the impact of service quality dimensions on customer satisfaction. The conceptual model proposed in the study postulated that service quality impacts on customer satisfaction directly. The model also postulated that service quality has a positive relationship with customer satisfaction, and tested them through Multiple Regression to find their significance. Questionnaires were distributed to gather data. The SERVQUAL instrument has a useful diagnostic role to play in assessing and monitoring service quality in banks. The results of the study confirmed the five factors of service quality with customer satisfaction were significant in all factors of service quality. Reliability, Responsiveness, Empathy, Assurance, and Tangibles are significant determinants of customer satisfaction. Thus, service quality can be used to predict customer satisfaction. The research has shown a positive relationship between service quality and customer satisfaction. This research concluded that service quality is the basic and also most important factor that impacts customer satisfaction. This finding reinforces the need for banks managers to place an emphasis on the underlying dimensions of service quality, especially on Assurance, and should start with improving service quality in order to raise customer satisfaction.

• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.2
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• pp.109-118
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• 2023

Purpose - This research paper aims to examine the impact of entrepreneurial orientation (EO) and government support programs (GSP) on new product performance in Korean Small and Medium-sized Enterprises (SME). We specifically focus on the interaction between these two factors and their influence on the new product performance of Korean SMEs. Research design, data, and methodology - We collected survey questionnaires from SMEs that are certified with Inno-biz by the Korean Ministry of SMEs and Startups. The collected data was analyzed using SPSS 26 and AMOS to create an integrated model. Result - Based on the analysis, our findings indicate that the proactiveness and innovativeness dimensions of EO have a positive effect on new product performance. However, the risk-taking dimension of EO has a negative effect. Additionally, GSP exhibit both positive and negative moderating effects on different dimensions of EO. Conclusion - It is important to recognize that GSP are not a universal solution for all challenges faced by SMEs. Hence, it is crucial for policy-makers to have a clear understanding of SMEs' capabilities and the level of EO dimensions in order to identify types of GSP that could lead to positive outcomes, while minimizing the negative effects of GSP.

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.4
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• pp.103-111
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• 2021

Purpose - We attempt to provide a background, a review of current development of the digital technologies and their effect on the digital transformation process, and then offer our recommendations for identifying and taking strategic actions to exploit them. More importantly, we also aim to offer important recommendations for policymakers and practitioners how to better advance the innovation system by facilitating the development of digital technologies and take advantage of improvements in digital technologies. Research design, data, and methodology - This study undertakes an extensive and critical review of the digital transformation literature and identifies several important issues with relevant practical examples of best practices in the transition to digital transformation process. Results - This paper finds that digital technologies with strong technological backing have brought technological spillovers to the economy while also generating shocks. Conclusion - To maintain a healthy and developing market order, it is necessary for governments to innovate regulatory models. This study offers several important suggestions for government regulatory innovation that we believe should help to better deploy digital transformation initiatives and enhance the efficiency and effectiveness of government regulation in contributing more to the high-quality and healthy development of the digital economy.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.3
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• pp.17-26
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• 2022

Purpose - In this paper, we aim to analyze to what extent entrepreneurial orientation (EO) can help overcome Korean SMEs' liabilities of foreignness in overseas markets. In this end, we examined three sub-dimensions of EO (proactiveness, innovativeness, risk-taking) and examine their individual effects on NPD performance of exporting SMEs. Research design, data, and methodology - We collected survey questionnaires from Korean exporting SMEs that are certified with Inno-biz by the Korean Ministry of SMEs and Startups. The collected data was analyzed using SPSS 26 and AMOS to create an integrated model. Result - As a result of the analysis, we found that proactiveness and innovativeness dimension of EO have positive effect on new product performance of exporting SMEs. Furthermore, technological uncertainty has negative moderating effect between innovativeness and new product performance of SMEs. Conclusion - While proactive attitude and innovativeness of EO positively affected the performance of new products of SMEs, the tendency to take risks and pursue opportunities with bold behaviors did not have a positive effect on NPD performance in foreign nations.