• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.3-11
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• 2019

This study is designed to examine the stock price of construction firms which are affected by the deregulation of new apartment sales price. As empirical methodology, it uses the traditional event study analysis to test the influence of the deregulation of new apartment sales price and the regression analysis to test which variables are related. The results of this study are summarized as follows : First, the cumulative abnormal return of stock is positive when government announced the deregulation of new apartment sales price. The cumulative abnormal return of stock for 21 trading day before -10 to +10 day is 25.51% which is significant different from zero at 1 percent level. This result suggests that the deregulation of new apartment sales price conveys good information to stock market that the firms performance will be good in the future. Second, in the regression analysis this study shows that the cumulative abnormal return of stock is related to firm's profit margin ratio.

• The Journal of the Korea Contents Association
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• v.21 no.10
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• pp.388-408
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• 2021

Recently, the importance of B2B CSR is being highlighted. Meanwhile, in B2B marketing, salesperson is widely recognized as a key resource influencing supplier firm performance. Therefore, the author paid attention to the role of supplier CSR reputation in customer-salesperson interaction process. So, this study collected dyadic data from 161 B2B purchasing managers and salespersons interacting with them. For customers, a supplier CSR reputation increased customer citizenship behavior and customer long-term orientation. With salespersons, they experienced less burnout due to interacting with customers having higher customer citizenship behavior and long-term orientation. Moreover, the results confirmed that a supplier CSR reputation lowered salespersons' emotional exhaustion through two serial-multiple mediation paths. This research verified that customers' perception and responses to supplier's CSR significantly influence B2B salesperson burnout.

• The Research Journal of the Costume Culture
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• v.31 no.4
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• pp.519-532
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• 2023

The online shopping market is expanding, with online shopping malls now subdivided into personal computer(PC) and mobile versions. Meanwhile, various efforts to promote online sales are being carried out in a bid to improve performance, and detailed research is required to inform such strategies. The purpose of this study was to classify online shopping mall types into PC fashion malls and mobile fashion malls with the aim of assessing sales promotion satisfaction and investigating the relationship between sales promotion satisfaction and consumers' behavioral intentions. Data were collected by a survey firm in June 2023, and 248 copies of the data were used for analysis. SPSS 28.0 was used to process the data, and frequency analysis, factor analysis, reliability analysis, and regression analysis were performed. The satisfaction factors for various sales promotions used by PC and mobile fashion shopping malls were empirically subdivided in consideration of consumer perspectives, and potentially effective marketing strategies were presented. Differences were observed in the type of satisfaction with sales promotion between PC fashion shopping malls and mobile fashion shopping malls and in the effect of sales promotion satisfaction on behavioral intention. Based on the study's findings, effective sales promotion strategies that can increase satisfaction and enhance behavioral intention may be developed and implemented through the use of various and different sales promotion strategies in PC and mobile fashion shopping malls.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.1-16
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• 2012

Under the international business circumstance, global supply chain management is considered a vital strategic challenge to small and medium-sized enterprises(SMEs) suffering from deficient resources and capabilities to exploit overseas markets comparing with large corporations. That is because they can expand their business domains into overseas markets by establishing strategic alliances with global supply chain partners. Although a wide range of previous researches have emphasized the cooperative networks in the chain, most are ignoring the importance of developing relational characteristics such as trust and reciprocity with the partners. Besides, verifying the relational factors influencing firms' export performances, some studies proposed different and inconsistent factors. According to the social capital theory, which is the social quality and networks facilitating close cooperation of inter-individual and inter-organization, provides the integrated view to identify the relational characteristics in the aspects of network, trust and reciprocal norm. Meanwhile, a number of researchers shows that global entrepreneurship is the internal and intangible resource necessary to promote SMEs' internationalization. Upon closer examination, however, they cannot explain clearly its influencing mechanism in the inter-firm cooperative relationships. This study is to verify the effect of social capital accumulated within global supply chain on SMEs' qualitative and quantitative export performance. In addition, we shed new light on global entrepreneurship expected to be concerned with the formation of social capital and the enhancement of export performances. For this purpose, the questionnaires, developed through literature review, were collected from 192 Korean SMEs affiliated in Korean Medium Industries Association and Global Chief Executive Officer's Club focusing on their memberships' international business. As a result of multi-regression analysis, the social capital - network, trust and reciprocal norm shared with global supply chain partner - as well as global entrepreneurship - innovativeness, proactiveness and risk-taking - have positive effect on SMEs' export performances. Also global entrepreneurship affects positively social capital which has mediating effect partially in the relationship between global entrepreneurship and performances. These results means that there is a structural process - global entrepreneurship(input), social capital(output), and export performances(outcome). In other words, a firm should consistently invest in and develop the social capital with global supply chain partners in order to achieve common goals, establish strategic collaborations and obtain long-term export performances. Furthermore, it is required to foster the global entrepreneurship in an organization so as to build up the social capital. More detailed practical issues and discussion are made in the conclusion.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.1
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• pp.139-175
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• 2017

The Assembly plenary session on December 3, 2017 passed a Product Liability Amendment bill that introduced clauses concerning consumer burden of proof and punitive damage reimbursement. More specifically, these newly approved provisions will reduce the burden of proof placed on consumers and levy triple punitive damage on suppliers. Significant increases in the number of product-liability lawsuit and the number of related insurance contracts are expected. Since military aircraft are designed for operational purpose(seeking greater combat effectiveness over greater safety) and used in high-risk environment, it is practically impossible to obtain an affordable product-liability insurance, Without having any backup plan, military aircraft manufacturers directly face all sort of liability risks under Product Liability Act, Warrant Liability Act and Non-Performance of Contract Act. The U.S. experienced similar problems when they first implemented their product-liability law in 1970s. There had been a big dispute among legal practitioner, insurance professionals and scholars concerning military aircraft manufacturer's liability. In order to settle the issue, the U.S. Supreme Court has established a new precedent of Government Contractor Defense(GCD). The U.S. government also included an indemnity clause for military aircraft manufacturers in their FMS Contract with the Korean government. Likewise, Korean military aircraft manufacturers should 1) clearly understand their current position that they cannot afford expensive product-liability insurance and the cost is not accounted in the military procurement calculation, 2) estimate potential liability risks with the ongoing overseas export expansion in mind, 3) set up appropriate risk management measures through regulatory reform and policy development.

• Journal of Distribution Science
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• v.12 no.10
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

• Korean Journal of Construction Engineering and Management
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• v.9 no.1
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• pp.96-106
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• 2008

The Korean Construction Industry significantly contributed to the Korean economic development not only by preparing the domestic infrastructure but also by successfully conducting various international projects. However, major incidents such as the collapse of Sung-Su Bridge and Sam-Pung Department Store along with stagnation of Korean Economy have raised questions about underlying systematic problems of the Korean Construction Industry. As a solution to resurrect the Korean Construction Industry, the Construction Management (CM) system introduced in late 1990's and increasingly utilized as an innovative delivery system. Despite of the fast growth of CM, the performance of CM has not been up to the hype and low CM fee has been identified as one of the main reasons of unsatisfactory CM performance. Therefore, this research attempted to propose ways of improving 'CM Fee Guidelines' published by Korean Ministry of Construction and Transportation by conducting a benchmarking study on Global Standards of estimating CM Fee. International organizations benchmarked in this research include CMAA, ASCE, DOL, DOE, etc. Various investigation and analysis revealed that Korean 'CM Fee Guidelines' need to significantly modified comparing to Global Standards. This research also tried to prepare recommendations to improve the CM deliver system focusing on the 'Method of CM Fee Estimation' and Selection of a CM firm as an owner's agent.

• Journal of Distribution Science
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• v.13 no.8
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• pp.97-104
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• 2015

Purpose - This study examines the positive impact of the social distance between producers and users of online content, investigating and analyzing the most popular Web content. In addition, it tries to elicit the matching effect that appears when the individuals'cultural background is consistent with social distance. Research design, data, and methodology - We collected and analyzed actual data about 4,981 videos clips on YouTube, looking at six countries in order to verify the content of this study. Based on the results of the data analysis, the study conducted behavioral measurements on popularity, social distance, culture, and user engagement. The unit of analysis was the content and we collected information about the content producers and the content records. We controlled the views, comments, likes, calendar dates, and ages in the empirical models. The data was collected in 2011, with the records coming from South Korea, Japan, China, U.S., German, and France. A total of 4,980 elements were analyzed in the model. The empirical model estimated is the bivariate negative binomial distribution (NBD) model. Results - It turns out that there is a possibility that the matching effect can be diminished by variables that reflect the psychological involvement of user engagement. This study proposes academic and practical implications based on these research results. This research shows the positive effect of social distance between users and producers on the increased performance of the online content. We find the effect of social distance to be a stronger tendency in collectivism. The collectivists follow their sense of friendship and intimacy in their culture and, the social congruence effect can be found there as well. The effect, however, could erode in a social case where users are motivated by strong intrinsic and psychological factors. In addition, user engagement complicates the process of user decision making regarding the information. Conclusions - This study examines how the differential effects of social distance caused by culture could disappear through user commitment as a complicated user motivation. Some potential implications are as follows. First, a firm in the collectivism culture has to communicate based on the social distance. In fact, most online channels do not have a function that indicates the social distance as measured by favorites or subscribers. This function could help increase the performance of the content in online channels, but this increasing effect can only be found in a collectivist culture. Based on this, the firms have to communicate and announce to users the actual social distance between users and producers. Second, firms should develop a system that discovers the social distance and culture and shows these measures to users and producers, since the congruence effect between social distance and culture is found only for low user engagement. The firms can take the advantage of the congruence effect only for the development of the social distance and culture visualized system.

• Journal of Technology Innovation
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• v.29 no.4
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• pp.95-124
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• 2021

Startups play an important role in economic growth and job creation in niche markets, thus governments regularly expand their research and development(R&D) budgets accordingly. As stratups are more dependent on governments to compensate for insufficient resources and capabilities than large and medium-sized companies, trust in government policies will be important. In this study, we analyzed the impact of startups' trust in government R&D policies on innovation performance. There were three major results. The first result is that government R&D investments in startups increase innovation performance in the manufacturing and high-technology industries but did not affect other industries. The second result is that trust in government R&D policies increased innovation in high-and medium-high technology and manufacturing industries. The third result is that trust in government R&D policies affects innovation before, during, and after evaluation of support process. We analyzed the importance of trust to the effectiveness of government R&D support to determine how to effectively provide it. The results show that governments need to differentiate the types of R&D support they provide according to the target firm's technology level and whether they are a manufacturing company and that appropriate R&D support mechanism should be developed for low-technology and non-manufacturing companies. Finally, governments should allocate resources and make fair and transparent decisions to help companies grow, not to better supervise them.

• Journal of Agricultural Extension & Community Development
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• v.21 no.2
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• pp.1-28
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• 2014

Private consulting firms that are currently participating in rural area development projects with a bottom-up approach are involved in nearly all areas of rural area development, and the policy environment that emphasizes the bottom-up approach will further expand their participation. Reviews of private consulting firms, which started out with high expectations in the beginning, are now becoming rather negative. Expertise is the key issue in the controversy over private consulting firms, and the analysis tends to limit the causes of the problems within firms. This study was conducted on the premise that the fixation on cause and structure results in policy issues in the promotion process. That is because the government authorities are responsible for managing and supervising the implementation of policies, not developing the policies. The current issues with consulting firms emerged because of the hasty implementation of private consulting through the government policy trend without sufficient consideration, as well as the policy environment that demanded short-term outcomes even though the purpose of bottom-up rural area development lies in the ideology of endogenous development focused on the changes in residents' perceptions. Research was conducted to determine how the problems of private consulting firms that emerged and were addressed in this context influenced the consulting market, using current data and based on the firms' business performance. In analyzing the types, firms were divided into three groups: top performers including market leaders (9), excellent performers (36), and average performers (34). An analysis of the correlation between the business performance of each type and managerial resources such as each firm's expertise revealed that there was only a correlation between human resources and regional development in excellent performers, and none was found with the other types. These results imply that external factors other than a firm's capabilities (e.g., expertise) play a significant role in the standards of selecting private consulting firms. Thus, government authorities must reflect on their error of hastily adopting private consulting firms without sufficient consideration and must urgently establish response measures.