• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.161-176
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• 2013

This study discusses some features observed in Korean credit card industry, which is classified as a two-sided market. First, I summarize six characteristics or conditions that two-sided markets possess by reviewing related literatures, and consider if we can find out those peculiarities in Korean card industry. Second, this study casts light upon the unique issues which have not been handled in previous studies, that is another two-sidedness in mature two-sided markets. In the context of credit card industry, this additional two-sidedness is created by specific consumers group existing in entire consumer group in a card firm as a form of subset and specific partnering merchants group offering special benefits to their subset consumer group, or alliance card holders. This concept gives new idea that there could be multiple two-sidedness especially in mature two-sided markets, which will be significant to platforms' pricing strategies and expand the scope of related studies.

• International Area Studies Review
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• v.12 no.2
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• pp.27-53
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• 2008

This paper investigates factors determining the level of nontraditional activities at banks around the world. Specifically, the paper examines what kinds of firm-specific and country-specific characteristics determine the level of noninterest income using a comprehensive multi-country database. This paper focuses beyond the traditional U.S. based analyses and provides detailed asset-liability management practices of banks around the world.The findings suggest that banks' size and loan loss provision, explicit deposit insurance, banking restriction, banking freedom ranking of respective countries, the extent of state and foreign ownership, governance, and transparency of the country have positive effects on the level of nontraditional activities. Greater dependence on traditional lending and financing, market based economy, and multiple bank supervisory bodies in the country have negative associations with noninterest income. The economic development of country however affects the extent of the relationship.

• The Transactions of the Korea Information Processing Society
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• v.4 no.5
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• pp.1358-1370
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• 1997

Client-Sever-Comptuing is now recognized as the most powerful and flexible computing mode of the future.Many companies have already commited significant amount of their corporate IS resources to building the cli-ent-server computing environment.Despite this active interst and commitment,however,results from such cli-ent-sever projects are far from being convincing Among the many factors,we suspect,we supect that the less than less than satisfac-tory client-server experiences are perhaps due to the company's lack of underxtanding its essertial information processing characteristics.We analyze five client-server archiedctures in temrs of seven IS-related crieria.We then develop a contin-gency model to match company's information processing chracteristics to the ideal client-server architecture for the firm.Based on the client-server architecture analysis from the previous step. we recommend specific im-plementation strategies for each-server architecture selected. Finally,on an exploratory level,we look into the three client-server implmentation cases to cases to check the validity of our contingency model.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.41-79
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• 2007

This study examines the expiration-day effects of stock index futures and options in the Korean stock market. The so-called 'expiration-day effects', which are the abnormal stock price movements on derivatives expiration days, arise mainly from cash settlement. Index arbitragers have to bear the risk of their positions unless they liquidate their index stocks on the expiration day. If many arbitragers execute large buy or sell orders on the expiration day, abnormal trading volumes are likely to be observed. If a lot of arbitragers unwind positions in the same direction, temporary trading imbalances induce abnormal stock market volatility. By contrast, if some information arrives at market, the abnormal trading activity must be considered a normal process of price discovery. Stoll and Whaley(1987) investigated the aggregate price and volume effects of the S&P 500 index on the expiration day. In a related study, Stoll and Whaley(1990) found a similarity between the price behavior of stocks that are subject to program trading and of the stocks that are not. Thus far, there have been few studies about the expiration-day effects in the Korean stock market. While previous Korean studies use the KOSPI 200 index data, we analyze the price and trading volume behavior of individual stocks as well as the index. Analyzing individual stocks is important for two reasons. First, stock index is a market average. Consequently, it cannot reflect the behavior of many individual stocks. For example, if the expiration-day effects are mainly related to a specific group, it cannot be said that the expiration of derivatives itself destabilizes the stock market. Analyzing individual stocks enables us to investigate the scope of the expiration-day effects. Second, we can find the relationship between the firm characteristics and the expiration-day effects. For example, if the expiration-day effects exist in large stocks not belonging to the KOSPI 200 index, program trading may not be related to the expiration-day effects. The examination of individual stocks has led us to the cause of the expiration-day effects. Using the intraday data during the period May 3, 1996 through December 30, 2003, we first examine the price and volume effects of the KOSPI 200 and NON-KOSPI 200 index following the Stoll and Whaley(1987) methodology. We calculate the NON-KOSPI 200 index by using the returns and market capitalization of the KOSPI and KOSPI 200 index. In individual stocks, we divide KOSPI 200 stocks by size into three groups and match NON-KOSPI 200 stocks with KOSPI 200 stocks having the closest firm characteristics. We compare KOSPI 200 stocks with NON-KOSPI 200 stocks. To test whether the expiration-day effects are related to order imbalances or new information, we check price reversals on the next day. Finally, we perform a cross-sectional regression analysis to elaborate on the impact of the firm characteristics on price reversals. The main results seem to support the expiration-day effects, especially on stock index futures expiration days. The price behavior of stocks that are subject to program trading is shown to have price effects, abnormal return volatility, and large volumes during the last half hour of trading on the expiration day. Return reversals are also found in the KOSPI 200 index and stocks. However, there is no evidence of abnormal trading volume, or price reversals in the NON-KOSPI 200 index and stocks. The expiration-day effects are proportional to the size of stocks and the nearness to the settlement time. Since program trading is often said to be concentrated in high capitalization stocks, these results imply that the expiration-day effects seem to be associated with program trading and the settlement price determination procedure. In summary, the expiration-day effects in the Korean stock market do not exist in all stocks, but in large capitalization stocks belonging to the KOSPI 200 index. Additionally, the expiration-day effects in the Korean stock market are generally due, not to information, but to trading imbalances.

• Korean Business Review
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• v.20 no.2
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• pp.61-85
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• 2007

Competitiveness of a firm essentially depends on the value of the product or service the firm supply. Product or service of high value derives customer purchase activity. Service mix is the process which creates competitiveness by value creation for customers through optimal combination of physical characteristics of product and service. This research is to contribute competitiveness increase of Korean manufacture industry by study of the effect of service mix as to the business competitiveness. Usually competitiveness advantage approach relies on the industry structure competition theory and the resource-based approach. However, it is said that, while the industry structure competition theory helps finding attractive industry, it rarely helps finding which companies succeed or fail in the specific industry. The resource-based viewpoint approach is limited in that this cannot provide any theory or systematic frame for the analysis even though it has contributed a lot to the competitiveness increase. Power process approach is applied to this study in order to overcome this limit and to Increase the business competitiveness. Power process is the process to create the value, the source of power by interaction of power elements, value, needs, environment and relation, the five power determination elements. Power process is a process that creates value to satisfy the power objective for the attainment of the goals of the power subject. This study is to contribute for the manufacture industry by establishing service mix strategy from the power process viewpoint.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.10
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• pp.76-91
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• 2019

There have been many studies to examine the patterns in innovations reflecting industry-specific characteristics from an evolutionary economics perspective. The purpose of this study is to identify industry-specific differences in product innovation patterns and determinants of innovation performance. For this, Korean manufacturing is classified into high-tech industries and low-tech industries according to technology intensity. It is also pointed out that existing research does not reflect the decision-making process of firms' R&D implementations. In order to solve this problem, this study presents a Heckman sample selection model and a double-hurdle model as alternatives, and analyzes data from 1,637 firms in the 2014 Survey on Technology of SMEs. As a result, it was confirmed that the determinants and patterns of manufacturing in small and medium-size enterprise (SME) product innovation are significantly different between high-tech and low-tech industries. Also, through an extended empirical model, we found that there exist a sample selection bias and a hurdle-like threshold in the decision-making process. In this study, the industry-specific features and patterns of product innovation are examined from a multi-sided perspective, and it is meaningful that the decision-making process for manufacturing SMEs' R&D performance can be better understood.

• The Journal of the Korea Contents Association
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• v.13 no.9
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• pp.260-269
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• 2013

Gender role identity is a key subject toward adaptation in later life. In this paper, we tried to understand the specific types and characteristics of gender role identity in view of older men. The research collected and examined 40 representative descriptions representing gender role identity, including 20 for masculinity and 20 for femininity from 40 older men. We obtained four types of gender role identity of older men from this research. "Powerful-expressive type" is energetic and reveals his brave and dominant tendency when they are working. "Powerful-taciturn type" is strongly independent and has a firm conviction, but they do not express those characters and remain silent. "Powerful-paternal type" handles his work with a driving force, and has a tender character. "Paternal-caring type" finds his own worth in life by caring for his family and children, and considers others more than himself. Future research is needed to verify how the types of gender role identity are linked to psychosocial adaptive aspects, health behaviors, mental and physical health.

• Journal of Global Scholars of Marketing Science
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• v.17 no.3
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• pp.39-59
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• 2007

The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

• Journal of Distribution Science
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• v.12 no.4
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• pp.55-63
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• 2014

Purpose - Brands and products often play key roles in enabling consumers to experience a good attitude, resulting in mentally enacting a specific prototype and reliving the experience by retelling a specific story. Brand storytelling can function as an important tool for managing the brand. To successfully apply a firm's brand storytelling, it is important to prove the effectiveness of storytelling. Therefore, by utilizing the research of Escalas (1998) and Fog et al. (2005), a list of measurements for storytelling component quality (SCQ) was applied. In addition, customer attitudes toward brand storytelling were tested. In particular, if customers encounter a dynamic and interesting story, although the brand is not widely known, they can be in communion with the brand and establish an emotional connection (Hill, 2003). Thus, brand reputation was divided into two levels (high vs. low), and the difference in effectiveness between storytelling component quality and consumers' advertisement attitude, brand attitude, and purchasing intention was examined. Research design, data, and methodology - By using the measurement list used in Choi, Na, and Hwang (2013), 12 categories in the level of message quality, conflict quality, character quality, and plot quality were measured. In addition, categories of brand reputation, advertisement attitude, brand attitude, and purchasing intention were measured. The study was based on 181 final survey samples targeting undergraduate and graduate students in Gwangju Metropolitan City. Results - Consumer responses toward storytelling were researched in the context of brand characteristics or product attributes, such as brand reputation, differentiated from extant simple effects of storytelling. Some brands with high reputation enjoy a halo effect due to prior learning, while other brands with comparatively low reputation have trouble generating positive responses despite attempts to enhance the level of reputation or induce favorable attitudes. Although not all due to the component quality of storytelling, the case of brands with low reputation exerted more positive impact on consumer attitudes than did brands with high reputation. As mentioned earlier, consumer evaluation of the component quality of storytelling was categorized into advertising attitudes, brand attitudes, and purchase intention for this study; this provides managerial implications in other ways. The results imply that an effective application of storytelling could be an important emotional tool for the development of both brands with low brand awareness and of well-known brands. Finally, this study serves to increase consumers' understanding and ability in interpreting brand stories that marketers tell about themselves, as well as to highlight differential experiences with products by level of brand hierarchy. Conclusions - This research aimed to provide an objective guideline for storytelling component quality while considering brand awareness. Thus, brand reputation was considered for proving the baseline effectiveness of storytelling, and this study provided directions for strategic establishment of storytelling. Based on this, we conclude that in further studies, it will be necessary to systematically manage brand story by considering other situation variables and various story patterns, and studying their differences.

• Journal of Mushroom
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• v.15 no.3
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• pp.111-117
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• 2017

The mushroom species Cordyceps militaris has been studied and cultivated as a medicinal mushroom due to its multiple valuable biological and pharmaceutical activities. For breeding new strains of C. militaris, multiplex PCR assays were performed using primers specific for its mating type genes, MAT1-1 and MAT1-2. Mating types and mating status were confirmed, as evidenced by DNA bands at 233-bp and 191-bp for MAT1-1 and MAT1-2 respectively. The novel 'Dowonhongcho 2ho' was developed through mating; they were found to possess high-quality fruiting bodies when grown in artificial media. The stromata of the new strain were club-shaped, with a bright orange-red color, and measured 7.1 cm in length. They had an average cordycepin content of 0.33%. Compared to 'Dowonhongcho,' the new strain had a 7% higher yield, as well as firm fruiting bodies. The optimum temperature for mycelial growth was $20{\sim}25^{\circ}C$, and the optimum temperature for stroma development was $18{\sim}22^{\circ}C$. The fruiting bodies developed after 49.1 days from inoculation. The use of mating type molecular markers improved the breeding efficiency of the new strain 'Dowonhongcho 2ho.' Thus, they may be valuable for artificial cultivation and industrial-scale production of C. militaris with excellent characteristics.