Antecedents and Consequences of Cooperation in Retail Voluntary Chain (소매점 볼런터리 체인 활성화의 선행요인과 결과)
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- Journal of Distribution Science
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- v.14 no.6
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- pp.65-73
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- 2016
Purpose - Recently, the management conditions of small independent retailers are getting worse everyday as large-scale marts and franchised convenience stores are increasing. The objective of this research is to find out the antecedents and consequences of cooperation in voluntary chain in order to enhance small independent retailer's competitiveness. Voluntary chains, also called affiliation or symbol groups, or allied group represent a high market shared in some European countries like Italy, France, and Germany. Nevertheless, there are still limitations in this research from academic fields. Drawing from network theory, the author investigates the relationship between antecedent factors in voluntary chain cooperation, such as participation benefits, justice of compensation, and autonomy in voluntary chain, and relationship specific asset. The author also attempts to examine the relationship between the relationship specific asset and cooperation of voluntary chain member shop and cooperation and consequence factors of voluntary chain cooperation, such as efficiency, group cohesiveness, and long-term relationship. Research design, data, and methodology - The author presented conceptual framework integrating the major antecedents and consequences of voluntary chain cooperation. The data were collected from 174 independent small retailers who joined K-voluntary chain. K-voluntary chain consists of small independent retailers. In accordance with their status, each entrepreneur associated with the voluntary group can own one or more outlets and can be a part of the life and the decision-making process of the group. This participation is not based on company turnover or on the number of outlets, but based on a one member, one vote system. To verify the research model and test hypotheses, the author carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed model. The data were analyzed by using SPSS 18.0 and AMOS structural equation modeling program. Results - The results of this study are as follows. First, as antecedent variables, participation benefits and justice of compensation have positive effect on the relationship specific assets of voluntary chain members. Second, voluntary chain members' relationship specific asset also directly related to the level of its cooperation to chain headquarter. Third, cooperation of voluntary chain member shop facilitates efficiency, group cohesiveness, and long-term relationship. Unexpectedly, there are no effect autonomy in voluntary chain to relationship specific asset. Conclusions - This research shows several theoretical and practical implications to both marketing scholars and marketers. In terms of theoretical implications, this study applies to network theory and network theory variables to explain the antecedent and consequence factors of cooperation in voluntary chain. From the point of view from business management, most of all, this study shows the way how to reinforce competitiveness of voluntary chain. Specifically, it is necessary for voluntary chain headquarter to give higher level of participation benefit and justice of compensation to its members. Second, the results also indicate what the consequence factors of cooperation in voluntary chain. In other words, to increase the level of marketing efficiency, group cohesiveness, long-term orientation in retail voluntary chain, and chain headquarter need to facilitate participants' cooperation.
본 논문은 모선가격을 적용하는 계통에서 전력품질기준을 초과한 수용가에 대한 보상을 하는 것이 계통계획상의 의사결정에 어떠한 영향을 주는가에 대한 시험 연구 결과이다. 우리나라는 산업의 고도화에 따라 전력에 대한 산업의 의존 비율이 대폭 증가하였을 뿐만 아니라, 전력품질에 대한 산업체의 요구조건도 과거에 비해 매우 높아졌다. 그러나 현행 계통계획과 전력요금제도에는 이러한 사회적 변화를 반영할 품질에 대한 요소가 포함되어 있지 않으며, 이에 대한 적절한 대비가 되지 않음으로 인한 사회적 비용은 제대로 평가되지 못하고 있다. 본 논문에서는 수용가에 대한 전력요금이 모선별로 할당되는 경우에 각 모선의 전력품질이 측정가능하고 이를 보상비용화 할 수 있다고 가정하는 경우, 이를 계통계획에 반영하였을 때 예상되는 효과를 모의계통을 통하여 시산해보고 그 결과를 토의한 것이다. 그 결과, 전력품질의 비용을 반영한 경우, 전력요금은 상승하지만 전체 비용을 최소화하는 요소설비에 투자하는 방법을 선택함으로써 총괄비용을 감소시키는 효과를 거둘 수 있다.
Purpose: The purpose of this study is to analyze the effects of COVID 19. The effects of COVID 19 are grouped into 5; economic stress, mental stress, health stress, task concern, self-confidence. We introduce the concept of personal ambidexterity that is necessary power for cabin crews to provide appropriate and efficient service to passengers. Ambidexterity consists of exploiting existing resources to sustain and exploring the new including method of performing task, customer, market etc. The former is necessary to maintain present condition while the latter is necessary to prepare for the future. Also motive is considered as a stimulating factor for task. Previous studies show that motive affects ambidexterity and we try to analyze whether COVID 19 effects influence this relationship. Research design, data, and methodology: Considering the relationship between the variables, we designed to measure the influence of the effects of COVID 19 by analyzing the moderating effects of them. For empirical analysis we distributed survey questionnaire and collected. Total of 361 samples are used fo the analysis. For analysis program, SPSS version 23 was used. Regression analysis and moderating effect analysis were conducted. Results: Study results show that first, the variables of economic stress, mental stress, health stress, task concern, self confidence affects personal ambidexterity and service provision. Also ambidexterity affects service provision significantly. Among COVID 19 effects, economic stress, task concern, and self confidence has moderating effects. On the other hand, new work environment does not have moderating effect. Conclusions: In conclusion, the effects of COVID 19 are wide and various. Among them the most serious effect is that COVID 19 is depriving workers of self confidence and passion toward the work. To remedy stresses and restore self confidence and passion, each worker should make his/her own efforts, such as, learning more to become more competitive, also firms should do make efforts to protect employees and to rebuild trust between firm and employees in every respect. Especially firms should realize that economic stress can be treated by economic compensation as the situation turns to normal but trust as well as self confidence and passion is not easy to restore.
As the number of online game user has been rapidly increased thanks to the recent vitalization of online contents market, not only new business opportunity but also the opportunity to create high profits have been provided as well. However, the increase of the number of online game user and the rapid expansion of the market evoke a cutthroat completion among online game service providers, and also high barriers to entry to online game market have been erected. Thus, what kinds of efforts need for the business success and sales increase in online game market? In lots of researches regarding online contents business, the deepening of loyalty was considered as a critical factor for the business success. According to the study on user's behavior in online environment, users would experience the Flow while using online service, and then, if they were in state of the Flow, they would use the service constantly. High customer loyalty to online game means high will to use the online game too. The purpose of this research was i) to examine what factors enable users to be naturally immersed in online game while playing it, ii) to examine what properties of online game can make game more interesting and exciting, iii) to verify that such factors are critical in deepening customer loyalty, and iv) to suggest some essential factors to be fun and exciting games, on where the focus should be put, and the directionality for the development for sales expansion of online game developer or online game service provider. The research results are as below: First, the involvement and the perceived quality which were characteristics of brand appeared to be factors most affecting Flow. This shows that once game user get interested in online game that user has played frequently, even though new games are released, user will continuously flow the game not moving to new games, and also shows that users not only get more interested but also put more trust in games in the site to where users are frequently going than games in other sites, and consequently user can increasingly flow the game. Second, the compensation and graphics which are the characteristics of contents appeared to be factors affecting Flow. Proper compensation which is given to game users triggers fun and interests in game and makes them flow more and more. And graphics make users to feel game space as if real space and let them flow in game with more reality. Third, challenges, support, and the stability which are technical characteristics appeared to be factors affecting Flow. Challenges enable users to not only experience new virtual world but also solve various difficulties and obstacles. Once users feel fun and interests through this challenge, they can naturally flow games. In addition, the stability of network provides reliability in security and hacking. By doing so, it can induce users to flow more and more. Lastly, when aforementioned characteristics including contents characteristics, technical characteristics, and brand characteristics are organically combined each other, game users feel fun and total minutes are naturally increased, so that game users experience Flow, and consequently the customer loyalty will be deepened as well.
Purpose - According to agency theory, managers have incentives to adjust firm revenues to meet earnings expectations or delay bad news disclosure because of performance-based compensation and their reputation in the market. When the bad news accumulates, stock prices fail to reflect all available information. Thus, market prices of stocks are higher than their intrinsic value. After all, bad news crosses the tipping point, it comes out all at once. That results in stock crashes. Auditors can decrease stock crash risk by reducing agency costs through their informational role. Especially, stock price crash risk is expected to be lower for firms adopting high-quality audits. We focus on distribution and service industry to examine the relation between audit quality and stock price crash risk. Industry specialization and auditor size are used as proxies for auditor quality. Research design, data and methodology - Our sample contains distribution and service industry firms listed in KOSPI and KOSDAQ during a period of 2004-2011. We use a logistic regression to test whether auditor quality influences crash risk. Auditor quality was measured by industry specialist auditor and Big4 / non-Big4 dichotomy. Following the approach in prior researches, we use firm-specific weekly returns to measure crash risk. Firms experiencing at least one stock price crash in a specific week during year are classified as the high risk group. Results - The result of analyzing 429 companies in distribution and service industry is summarized as follows: Above all, it is shown that higher audit quality has a significant negative(-) effect on the crash risk. Crash risk is alleviated for firms audited by industry specialist auditors and Big 4 audit firms. Therefore, our results show that hypotheses are supported. Conclusions - This study is very meaningful as the first study which investigated the effects of high audit quality on stock price crash risk. We provide evidence that high-quality auditors reduce stock price crash risk. Our finding implies that the risk of extreme losses can be reduced through screening of high-quality auditors. Therefore investors and regulators may utilize our findings in their investment and rule making decisions.
1. Introduction Today Internet is recognized as an important way for the transaction of products and services. According to the data surveyed by the National Statistical Office, the on-line transaction in 2007 for a year, 15.7656 trillion, shows a 17.1%(2.3060 trillion won) increase over last year, of these, the amount of B2C has been increased 12.0%(10.2258 trillion won). Like this, because the entry barrier of on-line market of Korea is low, many retailers could easily enter into the market. So the bigger its scale is, but on the other hand, the tougher its competition is. Particularly due to the Internet and innovation of IT, the existing market has been changed into the perfect competitive market(Srinivasan, Rolph & Kishore, 2002). In the early years of on-line business, they think that the main reason for success is a moderate price, they are awakened to its importance of on-line service quality with tough competition. If it's not sure whether customers can be provided with what they want, they can use the Web sites, perhaps they can trust their products that had been already bought or not, they have a doubt its viability(Parasuraman, Zeithaml & Malhotra, 2005). Customers can directly reserve and issue their air tickets irrespective of place and time at the Web sites of travel agencies or airlines, but its empirical studies about these Web sites for reserving and issuing air tickets are insufficient. Therefore this study goes on for following specific objects. First object is to measure service quality and service recovery of Web sites for reserving and issuing air tickets. Second is to look into whether above on-line service quality and on-line service recovery have an impact on overall service quality. Third is to seek for the relation with overall service quality and customer satisfaction, then this customer satisfaction and loyalty intention. 2. Theoretical Background 2.1 On-line Service Quality Barnes & Vidgen(2000; 2001a; 2001b; 2002) had invented the tool to measure Web sites' quality four times(called WebQual). The WebQual 1.0, Step one invented a measuring item for information quality based on QFD, and this had been verified by students of UK business school. The Web Qual 2.0, Step two invented for interaction quality, and had been judged by customers of on-line bookshop. The WebQual 3.0, Step three invented by consolidating the WebQual 1.0 for information quality and the WebQual2.0 for interactionquality. It includes 3-quality-dimension, information quality, interaction quality, site design, and had been assessed and confirmed by auction sites(e-bay, Amazon, QXL). Furtheron, through the former empirical studies, the authors changed sites quality into usability by judging that usability is a concept how customers interact with or perceive Web sites and It is used widely for accessing Web sites. By this process, WebQual 4.0 was invented, and is consist of 3-quality-dimension; information quality, interaction quality, usability, 22 items. However, because WebQual 4.0 is focusing on technical part, it's usable at the Website's design part, on the other hand, it's not usable at the Web site's pleasant experience part. Parasuraman, Zeithaml & Malhorta(2002; 2005) had invented the measure for measuring on-line service quality in 2002 and 2005. The study in 2002 divided on-line service quality into 5 dimensions. But these were not well-organized, so there needed to be studied again totally. So Parasuraman, Zeithaml & Malhorta(2005) re-worked out the study about on-line service quality measure base on 2002's study and invented E-S-QUAL. After they invented preliminary measure for on-line service quality, they made up a question for customers who had purchased at amazon.com and walmart.com and reassessed this measure. And they perfected an invention of E-S-QUAL consists of 4 dimensions, 22 items of efficiency, system availability, fulfillment, privacy. Efficiency measures assess to sites and usability and others, system availability measures accurate technical function of sites and others, fulfillment measures promptness of delivering products and sufficient goods and others and privacy measures the degree of protection of data about their customers and so on. 2.2 Service Recovery Service industries tend to minimize the losses by coping with service failure promptly. This responses of service providers to service failure mean service recovery(Kelly & Davis, 1994). Bitner(1990) went on his study from customers' view about service providers' behavior for customers to recognize their satisfaction/dissatisfaction at service point. According to them, to manage service failure successfully, exact recognition of service problem, an apology, sufficient description about service failure and some tangible compensation are important. Parasuraman, Zeithaml & Malhorta(2005) approached the service recovery from how to measure, rather than how to manage, and moved to on-line market not to off-line, then invented E-RecS-QUAL which is a measuring tool about on-line service recovery. 2.3 Customer Satisfaction The definition of customer satisfaction can be divided into two points of view. First, they approached customer satisfaction from outcome of comsumer. Howard & Sheth(1969) defined satisfaction as 'a cognitive condition feeling being rewarded properly or improperly for their sacrifice.' and Westbrook & Reilly(1983) also defined customer satisfaction/dissatisfaction as 'a psychological reaction to the behavior pattern of shopping and purchasing, the display condition of retail store, outcome of purchased goods and service as well as whole market.' Second, they approached customer satisfaction from process. Engel & Blackwell(1982) defined satisfaction as 'an assessment of a consistency in chosen alternative proposal and their belief they had with them.' Tse & Wilton(1988) defined customer satisfaction as 'a customers' reaction to discordance between advance expectation and ex post facto outcome.' That is, this point of view that customer satisfaction is process is the important factor that comparing and assessing process what they expect and outcome of consumer. Unlike outcome-oriented approach, process-oriented approach has many advantages. As process-oriented approach deals with customers' whole expenditure experience, it checks up main process by measuring one by one each factor which is essential role at each step. And this approach enables us to check perceptual/psychological process formed customer satisfaction. Because of these advantages, now many studies are adopting this process-oriented approach(Yi, 1995). 2.4 Loyalty Intention Loyalty has been studied by dividing into behavioral approaches, attitudinal approaches and complex approaches(Dekimpe et al., 1997). In the early years of study, they defined loyalty focusing on behavioral concept, behavioral approaches regard customer loyalty as "a tendency to purchase periodically within a certain period of time at specific retail store." But the loyalty of behavioral approaches focuses on only outcome of customer behavior, so there are someone to point the limits that customers' decision-making situation or process were neglected(Enis & Paul, 1970; Raj, 1982; Lee, 2002). So the attitudinal approaches were suggested. The attitudinal approaches consider loyalty contains all the cognitive, emotional, voluntary factors(Oliver, 1997), define the customer loyalty as "friendly behaviors for specific retail stores." However these attitudinal approaches can explain that how the customer loyalty form and change, but cannot say positively whether it is moved to real purchasing in the future or not. This is a kind of shortcoming(Oh, 1995). 3. Research Design 3.1 Research Model Based on the objects of this study, the research model derived is
The current study examined the mediating effect of self-efficacy (SE) in the relationship between work ability (WA) and work satisfaction (WS) perceived by reemployed workers who have experienced industrial accidents based on social cognitive career theory (SCCT), and investigated the effect of Industrial accident sequelae and workplace relationships (WR) on these variables. The data of 976 newly employed workers were selected from the data of the Panel Study of Worker's Compensation Insurance collected in 2018. The data were analyzed by Structural Equation Modeling through SPSS and AMOS programs. It was found that WA had a positive effect on WS through SE. In addition, it was found that the level of pain, the severity of the disability, and the activities of daily living had a negative effect on WS through WA and SE sequentially. Meanwhile, it was found that the WR was affected by the activities of daily living, and had a positive effect on WS through WE. These results emphasize that it is important to provide support to manage sequelae and increase SE in order to help victims of industrial accidents return to the job market and live satisfactorily. It also suggests that SCCT is useful in explaining WS of industrially injured workers.
This study examines the determinants of the long-run stock price performance of the firms that granted stock options between 1997 and 2002. We divide the sample into the firms run by the owner and those run by the professional manager. If the primary reason for granting stock options is reduction of the agency costs between the manager and shareholders, the effect of stock options is likely to be more pronounced in the firms run by the professional manager. We find that the long-run abnormal returns of the firms run by the professional manager are negatively associated with the shareholdings by the manager and the book-to-market value and are positively associated with the earnings growth and the size of the outstanding stock options. In contrast, the long-run abnormal returns of the firms run by the owner are negatively associated with the cash flows rate and the sales growth rate and are positively associated with the firm size. This is consistent with the argument that the agency costs arising from the conflicts between the manager and shareholders are an important determinant of the post-stock option granting long-run stock price performance only in the firms run by the professional manager. The results also suggest that stock options in the firms run by the owner are likely to be used for the purposes such as additional compensation, a signaling device, a means that reduce the agency costs within firms.
This is Kangwon Land casino case due to the damages of betting money, which is likely to affect the contents industry in the future. The reason why the gambler and his family's suit is that why the manager did not control their own access or did not supervise the wagering rules. The provisions of the "Restriction on the amount of money to be paid to the casino" in the Article 14 of the Enforcement Decree of the Act on the Support for the Development of the Abandoned Mine Area are not intended to increase the duty of the casino managers. It is just one of many public regulations imposed. No matter what legislation is made for public interest, it can not be considered equally in the private duty. If so, too much effort will be required to enact or amend the public law and this makes the legislative activity impossible. The Act on the Restriction on Access to the Casino shall be construed accordingly. From the point of view of economic efficiency theory, if we overestimate statutory duties (liability for compensation) excessively, the price goes up on the market, and the volume of transaction decreases drastically. This reduces the economic utility of resources in the society as a whole (total output, foreign currency acquisition amount, etc.).
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.
. 3.2 Hypotheses 3.2.1 The Hypothesis of On-line Service Quality and Overall Service Quality shows, Step 1 and Step 2 are significant, and mediation variable has a significant effect on dependent variables and so does independent variables at Step 3, too. And there needs to prove the partial mediation effect, independent variable's estimate ability at Step 3(Standardized coefficient
shows, Step 1 and Step 2 are significant, and mediation variable has a significant effect on dependent variables and so does independent variables at Step 3, too. And there needs to prove the partial mediation effect, independent variable's estimate ability at Step 3(Standardized coefficient
Relationship Between Work Ability, Self-efficacy, Work Satisfaction, Sequelae and Workplace Relationships of Reemployed Workers Who Experienced Industrial Accidents
(재취업한 산재 노동자의 업무능력, 자기효능감, 직무 만족, 후유증, 동료관계의 구조적 관계)
Long-Run Stock Price Performance of the Firms that Grant Stock Options and the Separation of Ownership and Management
(소유경영기업과 전문경영기업의 스톡옵션 부여 후 장기성과 결정요인)
A Study on the Duty of the Business Owner in the Contents(Casino) Corporation related with the Commercial Law - In the case of claim for damages of the gambler against the Kangwon Land(Supreme Ct. 2014.8.21, 2010다92438 case)
(상법상 유기장콘텐츠 영업주(카지노영업주)의 주의의무에 관한 연구 -강원랜드 카지노 이용자의 손해배상청구의 경우 (대판 2014.8.21., 2010다92438 전원합의체 판결))
The Determinants of R&D and Product Innovation Pattern in High-Technology Industry and Low-Technology Industry: A Hurdle Model and Heckman Sample Selection Model Approach
(고기술산업과 저기술산업의 제품혁신패턴 및 연구개발 결정요인 분석: Hurdle 모형과 Heckman 표본선택모형을 중심으로)
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