• Title/Summary/Keyword: Family firms

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Effects of the Characteristics of the Succession Process on Organizational Performance of Family Business Firms: Moderating Effects of Strategic Human Resource Management (가족기업의 승계프로세스 특성이 조직성과에 미치는 영향: 전략적 인적자원관리의 조절효과)

  • Woo, Chang-Soo;Park, Ho-Hwan;Choi, Myungweon;Oh, Jin Uk;Jang, Myoung-Hak
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.10 no.4
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    • pp.133-145
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    • 2015
  • This study investigates the relationships between the characteristics of the succession process and organizational performance as well as the moderating roles of strategic HRM practices in these relationships. Data was collected from 256 successors and HR managers(128 for each) in South Korean family businesses where the succession process either had been completed or was currently underway around time of data collected and analyzed. Our results indicate that the provision of successor training is positively related to organizational performance, while the clarity of the incumbent's role after succession, communication of the decision regarding succession, and the incumbent's propensity to step aside are not significantly related to organizational performance. Further, our results confirm (a) the moderating effects of strategic staffing practices between communication of the decision regarding succession and organizational performance, and (b) the moderating effects of strategic staffing practices between the incumbent's propensity to step aside and organizational performance. The theoretical and practical implications of these findings are discussed.

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An Empirical Study on the Characteristics of BT-based Converging Technology Market in Korea (우리나라 BT 융합기술 시장의 특성에 관한 실증연구)

  • Choi, Na-Lin;Hyun, Byung-Hwan;Kim, Pang-Ryong
    • Journal of Korea Technology Innovation Society
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    • v.15 no.2
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    • pp.299-322
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    • 2012
  • Biotechnology is considered a new propeller to national economic growth. Although BT-based converging technology is one of keywords in nowadays, few studies analyze the characteristics of Korean BT convergence market. This study has conducted the analysis of BT-based converging technology market by using patent database in KIPO (Korean Intellectual Property Office) from 2000 to 2010. We, especially, have classified BT convergence into homogeneous and heterogeneous ones, and compare the nature of BT convergence market with that of non-convergence one. To achieve the object of this study, the following methods are used: concentration across IPC technological classes; concentration of patenting activity across firms; PFS (Patent Family Size) index. Furthermore, according to FOS technology-industry table, we have intended to find new converging industry of BT heterogeneous converging technologies. As very few studies have focused on Korean converging technology market so far, this analysis is considered to be meaningful. It is found that the market of BT converging technology is rather robust than that of BT non-converging one, which refers that BT convergence shows the tendency of concentration towards few technologies by few conglomerate firms in Korea. Meanwhile, we have derived a BINET keyword map to research the convergence of sub-technologies in detail and the related industries. We expect the implications of this study to be utilized in establishing the BT-based converging technology policy.

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Daily Life Satisfaction in Asia: A Cross-National Survey in Twelve Societies

  • Inoguchi, Takashi;Basanez, Miguel;Kubota, Yuichi;Cho, Sung Kyum;Kheokao, Jantima;Krirkgulthorn, Tassanee;Yingrengreung, Siritorn;Chung, Robert;Cheong, Angus Weng Hin;Sandoval, Gerardo A. Jay;Deshmukh, Yashwant;Shaw, Kanyika;Yu, Ching-Hsin;Zhou, Baohua;Idid, Syed Arabi Bin Syed Abdullah;Gilani, Ijaz Shaffi;Gilani, Bilal I.
    • Asian Journal for Public Opinion Research
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    • v.1 no.3
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    • pp.153-202
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    • 2014
  • Aside from political leaders' popularity rates and the stock exchange index of business firms, ordinary people are highly interested in aspects of daily life, such as housing, income, health, family, food, human relations and work. Cross-national opinion polls on daily-life satisfaction were carried out in Japan, South Korea, Thailand, Hong Kong, Macao, the Philippines, India, Myanmar, Taiwan, China, Malaysia and Pakistan in the fall of 2013 and winter 2014. The percent difference index (PDI) is formulated as the sum of two positive responses (satisfied and somewhat satisfied) minus the sum of two negative responses (dissatisfied and somewhat dissatisfied). Percent difference indices are given according to society and daily-life aspects. For our analysis to go beneath national average and to go beyond national borders, two lines of analysis are carried out. First, the distance between the level of satisfaction of the top and bottom quartiles is given for each society and according to each of the daily-life aspects. Second, the regional sum of satisfaction of the top quartiles and bottom quartiles are shown crossed by daily-life aspects. In this article we confine ourselves to preliminary comparative description and analysis. More solid and deep comparisons will be carried out by local polling leaders of 12 Asian societies in the succeeding issue of the Asian Journal of Public Opinion Research. Nevertheless, two key threads stand out from this preliminary comparisons. First, social relations (family and human relations) stand out as most satisfied aspects of life in most of twelve societies. Second, the need to go beneath national averages and beyond national borders in analyzing cross-national surveys is confirmed. The comparability and validity of cross-national surveys with varying sampling method and survey mode are briefly discussed toward the end of the article.

Factors Affecting the Capabilities and Performance of Industry-Academic Cooperation: A Firm-Centered Approach (산학협력 성과에 미치는 영향요인 분석: 기업의 관점을 중심으로)

  • Kong, Jae-Hyung;Kim, Kyoum-Sup;Jang, Hoo-Eun;Heo, Sun-Young;Lee, Jong-Ho
    • Journal of the Economic Geographical Society of Korea
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    • v.23 no.1
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    • pp.82-92
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    • 2020
  • This study attempts to explore the activities and performance of industry-academic cooperation with the perspective of the firm that has not been systematically addressed in the previous research. To do this, a survey of university family companies across the country was conducted to draw factors that influence the competencies of firms and universities on the performance of industry-academic cooperation and to compare differences by region. The main results of the study are as follows. First, it was found that the knowledge and technologies that universities retain and the active participation of companies in the activities of university-academic cooperation were the most important contributors to the corporate achievements in industry-academic cooperation. Second, when divided into the Seoul metropolitan area and non-capital area, it was found that there was a difference in the capabilities and performance of industry-academic cooperation between the two regions. Third, it was found that there were significant differences in the capabilities and performance of industry-academic cooperation in five areas. These findings suggest that industry-academic cooperation projects specialized for each region is necessary to enhance the effectiveness of industry-academic cooperation.

An Empirical Analysis on the Effect of Naepo New Town on the Local Economy of Neighboring Areas (내포신도시 조성에 따른 지역경제 영향에 대한 실증분석)

  • Hong, Sung Hyo;Lee, Gyoung Ju;Im, Jun Hong
    • Journal of the Korean Regional Science Association
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    • v.36 no.3
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    • pp.41-52
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    • 2020
  • A new town attracts a large population in the short period due to its excellent residential conditions, and forms a local economy. However, if the new town is constructed in an inferior area, it would cause a negative effect to neighboring areas by absorbing population and firms from them. Nevertheless, the relocation of Chungnam provincial office from Daejeon, a metropolitan area to Naepo belongs to the key project of constructing Naepo. If the officers and their family members move to Naepo following the relocation and form a new consumer group of a local economy, the construction of Naepo would cause a positive effect to its neighboring areas. This paper empirically analyzes the effect of Naepo on the local economy through the change in differences of the new openings of restaurants between areas (defined either by donut-shaped area with 500-meter width or by Eup, Myun, and Dong) inside and those outside of 10km from the border of Naepo. The results from regression equation estimation where difference-in-differences framework is applied imply that the construction of Naepo new town caused a positive economic effect to its neighboring areas.

A Study on Profitability of the Allianced Discount Program with Credit Cards and Loyalty Cards in Food & Beverage Industry (제휴카드 할인프로그램이 외식업의 수익성에 미치는 영향)

  • Shin, Young Sik;Cha, Kyoung Cheon
    • Asia Marketing Journal
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    • v.12 no.4
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    • pp.55-78
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    • 2011
  • Recently strategic alliance between business firms has become prevalent to overcome increasing competitive threats and to supplement resource limitation of individual firms. As one of allianced sales promotion activities, a new type of discount program, so called "Alliance Card Discount", is introduced with the partnership of credit cards and loyalty cards. The program mainly pursues short-term sales growth by larger discount scheme while spends less through cost share among alliance partners. Thus this program can be regarded as cost efficient discount promotion. But because there is no solid evidence that it can really deliver profitable sales growth, an empirical study for its effects on sales and profit should be conducted. This study has two basic research questions concerning the effects of allianced discount program ; 1)the possibility of sales increase 2) the profitability of the discount driven sales. In F&B industry, sales increase mainly comes from increased guest count. Especially in family restaurants, to increase the number of guests we need to enlarge the size of visitor group (number of visitors for one group) because customers visit by group in a special occasion. And because they pay the bill by group(table), the increase of sales per table is a key measure for sales improvement. The past researches for price & discount sensitivity and reference discount rate explain that price sensitive consumers have narrow reference discount zone and make rational purchase decision. Differently from all time discount scheme of regular sales promotions, the alliance card discount program only provides the right to get discount like discount coupon. And because it is usually once a month opportunity given by the past month usage level, customers tend to perceive alliance card discount as a rare chance to get. So that we can expect customers try to maximize the discount effect when they use the limited discount opportunity. Considering group visiting practice and low visit frequency of family restaurants, the way to maximize discount effect should be the increase the size of visit group. And their sensitivity to discount and rational consumption behavior defer the additional spending for ordering high price menu, even though they get considerable amount of savings from the discount. From the analysis of sales data paid by alliance discount cards for four months, we found the below. 1) The relation between discount rate and number of guest per table is positive : 25% discount results one additional guest 2) The relation between discount rate and the spending per guest is negative. 3) However, total profit amount per table is increased when discount rate is increased. 4) Reward point accumulation & redemption did not show any significant relationship with the increase of number of guests. These results suggest that the allianced discount program substantially contributes to sales increase and profit improvement by increasing the number of guests per table. Though the spending per guest is decreased by discount rate increase, the total amount of profit per table is improved. It seems the incremental profit by increased guest count offsets the profit decrease. Additional intriguing finding is the point reward system does not have any significant impact on the increase of number of guest, even if the point accumulation & redemption of loyalty program are usually regarded as another saving offers by customers. In sum, because it is proved that allianced discount program with credit cards and loyalty cards is effective to both sales drive and profit increase, the alliance card program could be recommended as strategically buyable program.

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Study on Investment Decision-making Factors of Informal Investors for Start-up Investment (비공식투자자의 창업기 투자의사결정요소 연구)

  • Kim, Tae-Nyeun;Park, Sun-Youmg;Sawng, Yeong-Wha
    • The Journal of the Korea Contents Association
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    • v.18 no.9
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    • pp.584-593
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    • 2018
  • The startup, which is a common noun to start a small business, has been recently one of main targets for policymakers due to its important role for job creation and considerable potential for sustainability of an economy. However, technological entrepreneurship decreased by 5.0% p from 2013 to 2016. The revitalization of entrepreneurial investment promoted by the government is mainly supported in fruitable venture companies at grow stage or 2~3 years before IPO through venture capital firms and angel funds. It is far from an investment at start-up. It is therefore necessary to motivate private investment to be active in the private start-up sector. In addition, the start-up investment requires institutional support and government support to meet the expectations of investors about the possibility of payback and profitability of private investment invested in the founding period. As a small entrepreneur at a comparably early stage in the lifecycle of business, investments for the startup are generally made by informal investors such as family, friends and fools, and their decision making processes are relatively non-programmed compared with ones for listed corporales such as venture capital and angel fund agency. This study focuses on analyzing decision making factors in investment, and verifying an impact of such factors, specifically the possibility of investment payback and investment profitability, in a decision-making process for the startup especially at the very early stage.

Development of an Algorithm for Automatic Quantity Take-off of Slab Rebar (슬래브 철근 물량 산출 자동화 알고리즘 개발)

  • Kim, Suhwan;Kim, Sunkuk;Suh, Sangwook;Kim, Sangchul
    • Korean Journal of Construction Engineering and Management
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    • v.24 no.5
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    • pp.52-62
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    • 2023
  • The objective of this study is to propose an automated algorithm for precise cutting length of slab rebar complying with regulations such as anchorage length, standard hooks, and lapping length. This algorithm aims to improve the traditional manual quantity take-off process typically outsourced by external contractors. By providing accurate rebar quantity data at BBS(Bar Bending Schedule) level from the bidding phase, uncertainty in quantity take-off can be eliminated and reliance on out-sourcing reduced. In addition, the algorithm allows for early determination of precise quantities, enabling construction firms to preapre competitive and optimized bids, leading to increased profit margins during contract negotiations. The proposed algorithm not only streamlines redundant tasks across various processes, including estimating, budgeting, and BBS generation but also offers flexibility in handling post-contract structural drawing changes. In particular, the proposed algorithm, when combined with BIM, can solve the technical problems of using BIM in the early phases of construction, and the algorithm's formulas and shape codes that built as REVIT-based family files, can help saving time and manpower.

The Effect of Hotel Employee's Service Orientation on Service Performance, Job Satisfaction, and Organizational Commitment (호텔기업 종업원의 서비스지향성이 서비스 성과, 직무만족과 조직몰입에 미치는 영향)

  • Park, Dae-Hwan
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.4
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    • pp.1-22
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    • 2007
  • Customer satisfaction is important in an increasingly competitive and global marketplace. This implies that customer service is a critical factor for many organizations. In service encounter context, customer satisfaction is affected by employees' attitudes and behaviors. Accordingly, service firms have been focusing on selecting high quality of service employees, which resulted the ability to identify and select quality service- or customer- oriented employees to become critical for an organization's success. It was suggested that customer service orientation links to performance and subsequent organizational revenue. Moreover, it was found that service encounter failures were among the major reasons for customers' service switch. Therefore, the selection of customer service oriented employees is a key factor in establishing customer service - a potential source of sustained competitive advantage. However, the measurement of employee service orientation is more confusing than that of definitive answers. The difficulty of measuring service orientation is attributed to the use of broad versus narrow measures of personality. Advocates for the broad perspective prefer using basic personality constructs, such as the Big Five personality traits. On the contrary, the latter prefer a construct-oriented approach of personality research that provides a better measure of job performance because it requires the specification of the relationship of the personality traits with multiple dimensions of job performance. The customer service orientation was defined as "a set of basic individual predispositions and an inclination to provide service, to be courteous and to be helpful in dealing with customers and associates." Similarly, it is a fact that the Big five personality traits are predictors of customer orientation, and employee's self- and supervisor performance. They propose that basic personality traits may be too far removed from focal service behaviors to be able to predict specific service behaviors (customer orientation) and service worker performance. Also, customer orientation is defined as "an employee's tendency or predisposition to meet customer needs in an on-the-job context." This means that people who have job-relevant personality traits such as concern, empathy, and conscientiousness will be more adept at customer service than people who do not possess these traits. However, little attention has been given to the exploration of the service orientation of customer-contact employees who play a key role in creating satisfactory service encounters in the hospitality industry except for Kim, McCahon, & Miller (2003)'s study, especially in family restaurants context. Thus, the purposes of this study are to examine and validate the customer service orientation of customer-contact employees using the instrument developed by Donavan (1999) in Korean family restaurants, because the scale was developed to measure the personality traits related job behaviors. And this study explores the relationships between customer service orientation, job satisfaction, organizational commitment, and self service performance using structural equation modeling (SEM). And this study explores the relationships between customer service orientation, job satisfaction, organizational commitment, and self service performance using structural equation modeling (SEM). For these purposes the author developed several hypotheses as follows: H1: Employee's service orientation is associated with service performance. H2: Employee's service orientation is positively associated with job satisfaction. H3: Employee's service orientation is positively associated with organizational commitment. H4: Service performance is positively associated with job satisfaction. H5: Service performance is positively associated with organizational commitment. H6: Job satisfaction is negatively associated with organizational commitment. The data were collected from 278 employees in 5 deluxe hotels located in Pusan, Korea. The researcher contacted the manager of the restaurants, and managers consented to administer surveys to their employees. The survey was executed during one month period in the October of 2007. The data were analyzed with structural equation modeling with LISREL 8.7 W. The result of the overall model analysis appeared as follows: $X^2$=122.638 (p = 0.00), df=59, GFI=.936, AGFI=.901, NFI=.948, CFI=.971, RMSEA=.0625. Since the result of the overall model analysis demonstrated a good fit, we could further analyze our data. The findings can be summarized as follows: First, the greater the employee service orientation, the greater the service performance. Second, the greater the employee service orientation, the greater the job satisfaction. Third, the greater the employee service orientation, the greater the organizational commitment. Fourth, the greater the service performance, the greater the job satisfaction. Fifth, the greater the service performance, the greater the organizational commitment. Finally, the greater the job satisfaction, the greater the organizational commitment. Seventh, the greater the customer satisfaction, the greater the customer loyalty.

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Brand Equity and Purchase Intention in Fashion Products: A Cross-Cultural Study in Asia and Europe (상표자산과 구매의도와의 관계에 관한 국제비교연구 - 아시아와 유럽의 의류시장을 중심으로 -)

  • Kim, Kyung-Hoon;Ko, Eun-Ju;Graham, Hooley;Lee, Nick;Lee, Dong-Hae;Jung, Hong-Seob;Jeon, Byung-Joo;Moon, Hak-Il
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.245-276
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    • 2008
  • Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

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