• Journal of Korea Trade
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• 제25권3호
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• pp.87-115
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• 2021

Purpose - Brand equity has emerged as an indispensable marketing tool for firms engaging their business in developing nations. This study proposes that the country of origin image and advertising will affect the Korean brand equity formation, which leads to repurchase intention of Korean brands. In the study, attitude factors are applied in brand equity theory to predict repurchase intention of Korean brands. Cognitive brand equity, such as brand awareness, brand association, brand image and attitudinal brand equity, such as perceived quality and brand loyalty are considered with regards to their attitude towards the Korean brand. Design/methodology - A total of 178 Myanmar consumers out of 200 participants who have used Korean brands answered the survey and data were analyzed through SmartPLS 3.3.2 version. PLS-SEM is considered a more suitable analysis to pin down and evaluate the cause-effect relationship among all of the constructs with relatively complex models. Findings - Our results substantiate that the country of origin image positively affects brand awareness, brand associations, and brand image and advertising awareness positively affects brand awareness. Brand awareness gives positive effect only on brand association, which sustains a positive effect on brand image and brand loyalty. Brand image only has a positive effect on perceived quality, which again affects repurchase intention and brand loyalty. Brand loyalty also shows a positive effect on repurchase intention. Originality/value - Brand equity dimensions were viewed as cognitive and attitudinal outcomes of brand equity which affects repurchase intention. The drivers of brand equity were considered from the perspective of country of origin image that firms cannot control or mange, and advertising awareness which firms can control and manage. The findings also explored the relationships between cognitive and attitudinal brand equity.

• The Journal of Asian Finance, Economics and Business
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• 제4권3호
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• 대한교통학회지
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• 제25권5호
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• pp.183-193
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• 2007

전통적으로 혼잡통행료는 교통시설의 한계사회비용과 한계개인비용의 차이를 혼잡통행료로 부과함으로써 사용자 균형(user equilibrium)상태의 도로망을 체계최적(system optimum)으로 유도하는 한계비용가격(marginal cost pricing) 또는 최적혼잡통행료(first-optimal pricing)이론에 근거를 두고 있다. 이러한 이론을 기초로 본 연구에서는 가변수요를 갖는 다계층 도로이용자를 대상으로 링크 최적혼잡통행료의 이론적 특성을 살펴보고 혼잡통행료 징수에 따른 계층간 그리고 지역간 형평성을 분석하기 위한 방법론을 연구한다. 여기서, 도로이용자가 경험하는 경로통행비용은 시간요소(통행시간)와 화폐요소(혼잡통행료)의 2가지 판단기준으로 구성되고 시간가치에 의해 하나의 단위로 전환(trade off)이 가능하다. 경로 통행비용이 시간단위로 환산될 경우, 최적혼잡통행료는 시간단위 체계최적 조건으로부터 도출될 수 있고 경로통행비용이 화폐단위로 환산될 경우, 최적혼잡통행료는 화폐단위 체계최적 조건으로부터 도출될 수 있다. 따라서 본 연구에서는 이러한 체계최적 조건으로부터 도출된 최적혼잡통행료를 산정하는 모형을 개발하고 이를 통하여 계층간 형평성을 살펴본다.

• 한국게임학회 논문지
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• 제9권3호
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• pp.87-96
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• 2009

몰입이론과 관련된 연구결과에 의하면, 사람들이 어떤 일에 대해 최적의 경험을 하기 위해서 는 도전감(Challenge)과 능력(Skill)이 높았을 때라고 한다. 그렇다면 몰입이론의 능력(Skill)은 무엇을 의미하는가? 본 연구에서는 교육학에서 다루고 있는 자아효능감(Self-Efficacy)이론을 토대로 몰입이론에서 말하는 능력(Skill)에 대해 재해석하고, 실제 자아효능감에 영향을 미치는 게임의 요소와 자아효능감이 몰입의 경험에 미치는 영향을 설문을 통해 분석하였다. 분석결과를 살펴보면, 몰입에서의 능력(Skill)은 주관적 자기 능력의 의미로써 자아효능감과 동일한 개념임을 알 수 있었다. 또한 설문결과 게임의 보상에 대한 형평성과 타인의 긍정적 평가가 자아효능감에 영향을 미치고, 이를 통해 몰입의 경험을 하게 된다는 가설을 검증하였다. 본 연구 결과를 토대로 플레이어에게 몰입의 경험을 높게 제공하기 위해 자아효능감을 어떻게 게임 요소로 활용해야 하는지에 대한 이론적 근거를 제공해 줄 수 있을 것이다.

• 대한가정학회지
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• 제40권1호
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• pp.195-208
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• 2002

This study examines how marital dissatisfaction is connected with extramarital relations among married women. To explore this subject,1 am using in-depth interview techniques. The data from 16 married women who involved (and are involving) extramarital relations are collected in semistructured interviews. In this article, I describe four specific types of extramarital relations with particular relevance to marital dissatisfaction: (1) temporary extramarital relations caused by marital dissatisfaction, (2) positive extramarital relations as maintaining dissatisfied marriage, (3) unavoidable extramarital relations as breaking dissatisfied marriage, and (4) extramarital relations as a part of life with satisfied marriage. With these results, I believe that equity theory could be applicable in explaining the relationships between marital satisfaction and extramarital relations. There are limitations when the qualitative research is analyzed. One problem is measurement. It is difficult to measure equality (or equity), life dissatisfaction, and other concepts. furthermore, this study is not abbe to explain causal relationships among equality, life dissatisfaction, actual extramarital relations. The future study should perhaps be in quantitative research focused on the causal model in which all exchange variables are conceptualized and properly measured for the intimate relationship.

• 아태비즈니스연구
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• 제14권1호
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• pp.215-229
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• 2023

Purpose - Based on the funding-horizon theory, this study aims to test the effects of cash needs and the persistence of external funding needs on firms' external financing. Design/methodology/approach - Financial data of Korean listed companies were collected from DataGuide. Immediate and near-term cash shortfalls are defined using the methodology of Haung and Ritter (2021). We estimate multinomial logit regressions for the financing choice. Findings - First, all three cash depletion variables used in our study increase the likelihood of external financing. Second, firms prefer to issue debt to meet immediate spending and equity to meet long-lived cash needs. Third, this effect is more pronounced for high R&D firms. Fourth, chaebol firms with internal capital markets defer raising external capital for immediate and near-term cash needs. Research implications or Originality - This paper provide empirical evidence that immediate and near-term cash needs induce external financing, and the persistence of cash needs affects the choice between debt and equity, the finding which is consistent with the funding-horizon theory of financing decisions. Being the first paper to test the funding-horizon theory using Korean data, this paper contributes to the literature on the capital structure of Korean firms.

• Asia Marketing Journal
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• 제22권1호
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• pp.1-26
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• 2020

Firms employing hierarchical loyalty programs (HLPs) periodically demote customers from higher to lower status level to divest from unprofitable customers and boost profitability. However, existing literature lacks objective evidence on how customer demotion affects demoted customers' future purchase behaviors and ultimately profitability for the firm. Moreover, customers in the HLP's higher position may respond to customer demotion differently from those in the HLP's lower position. Drawing upon emotions and equity theories, this study quantifies how the profits that customers contribute to the firm change after customer demotion, and compares demoted customers' behavioral reactions from top-tier with those from bottom-tier based on customers' actual behavior data from a major retail bank in South Korea. The findings show that withdrawing customer status actually deteriorates customer profitability, and customers with top-tier status decrease their profitability more dramatically than those with bottom-tier status after demotion. The results contribute to previous literature on customer demotion and relationship marketing, and provide specific guidelines into how firms should design and implement customer demotion in HLPs.

• 재무관리연구
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• 제26권2호
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• pp.63-91
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• 2009

This paper tests the validity of pecking order theory by Myers(1977) and Myers and Majluf(1984) on Korean manufacturing firms listed in the KRX for the years of 1994 to 2003. We also want to see if there is any difference in financing behavior between chaebol affiliated firms and non-chaebol affiliated firms. We develop testable hypotheses from the idea that established relationship between bank and firm mitigates the problem of information asymmetry (Kang and Lim, 2001), and thus makes it easier for firms to raise funds through banks. The test result of the first stage shows that firms prefer cash reserves to debt financing, and prefer debt to equity. Chaebol affiliated firms are found to behave as if they already exploit internal capital markets. The second stage of the test carried out by dividing debt capital into bank loans and corporate bonds also shows a consistent pattern of financing behavior. Firms are testified to prefer cash to bank loans, bank loans to corporate bonds, and corporate bonds to equity. In this case chaebol affiliation seems to make firms behave as if they already establish internal capital markets. Further analysis shows that some, though not in every case, difference of ordering around the occasion of Korean financial crisis exists. It may be from the change of attitude of Korean firms to risk, or from weakened influence of internal capital market along with strengthened market power in the post-crisis period.

• 유통과학연구
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• 제21권10호
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• pp.77-84
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• 2023

Purpose: This study aims to determine the impact of green accounting on the distribution of company financial performance. Green Accounting is seen as an accounting approach that considers the environmental impact of business activities and the distribution of financial performance which is expected to provide great benefits to the company. Research Design Data and Methodology: The population of this study is 168 manufacturing companies listed on the Indonesia Stock Exchange from 2018 to 2020. The research theory uses the Legitimacy Theory and the Shareholder Theory. Research data were analyzed using multiple regression models with purposive sampling. Green Accounting in this study uses environmental cost proxies using Return on Capital Employed (ROCE). Financial performance uses the Return on Equity (ROE) proxy. Results: research shows that the influence of green accounting can provide important input to operational managers in manufacturing companies in making decisions regarding environmental costs and environmental protection that will provide economic benefits for the company. In addition, these findings also clarify the great benefits of green accounting policies for a company's production process. Conclusion: Green Accounting has a long-term impact through the company's financial performance. Green Accounting can be the basis for companies in deciding whether to invest or not.

• 한국콘텐츠학회논문지
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• 제22권10호
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• pp.615-626
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• 2022

현재 차산업 분야의 브랜드 구축에 대한 이론적 연구는 비교적 광범위하게 진행되었지만, 조사 결과 브랜드 자산의 측면에서 차산업 브랜드를 연구할 수 있는 관련 이론은 여전히 부족한 것으로 나타났다. 본고는 일조녹차를 연구 대상으로 소비자의 관점에서 일조녹차의 브랜드 자산에 영향을 미치는 요인과 각 요인 간의 관계를 중점적으로 연구한다. 연구 결과에 의하면 소비자의 관점에서 일조녹차의 브랜드 자산은 브랜드 인지도, 지역 연상, 품질 감지, 브랜드 충성도로 구성되고, 차원 간에 일정한 상관관계가 존재하며 각 차원은 브랜드 자산에 영향을 미친다. 브랜드 인지도와 지역 연상 사이에는 현저한 상관관계가 있으며, 브랜드 인지도는 품질 감지에 현저한 영향을 미치지 않는다. 지역 연상은 품질 감지와 브랜드 충성도에 현저한 긍정적 영향을 미치고 브랜드 인지도와 품질 감지는 브랜드 충성도에 현저한 긍정적 영향을 미친다. 본 연구는 해당 분야의 이론 연구 부족을 보완하는 동시에 일조녹차 브랜드 자산의 구축을 위한 이론적 근거와 실천적 지침을 제공할 수 있다.