• International Commerce and Information Review
• /
• v.6 no.2
• /
• pp.3-12
• /
• 2004

A large number of Chinese trade marks and domain names have been registered improperly or illegally by foreign companies or businessmen. Additionally, a large number of famous Chinese brands have vanished through joint ventures, mergers and acquisitions since foreign direct investment (FDI) came to China more than two decades ago because some Chinese managers have not been fully aware of the value of trade marks and domain names. Consequently, the number of China's registered trade marks and famous brands does not match China's export volume and its Number four trade status in the world. China's enterprises have yet to realize the effects of these events. It is very important for China to protect and cultivate its own famous brands. This paper discusses Chinese companies' neglect of the value of their trade marks and domain names, and the possible consequences. Additionally, this paper puts forward suggestions concerning the protection and cultivation of China's famous brands.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.3 no.2
• /
• pp.26-30
• /
• 2015

Purpose-This paper aims to do research on success and failure of Chinese enterprises and suggest the implications to the Chinese enterprises by comparing the representative examples of Chinese enterprises' overseas M&A. Research Design, Data, and Methodology-This paper selected by six cases of Chinese enterprises' overseas M&A to do the contrast. Results-Consulting company still plays a very important role in Chinese enterprises' overseas M&A because Chinese enterprises' overseas M&A is being placed in growth stage. And how to grasp the development trend of industry accurate and choose the correct target enterprises is a very important issue for Chinese enterprises which can make Chinese enterprises to avoid blind investment. Conclusion-Chinese Enterprises have to evaluate the target enterprise with the aid of authoritative investment and consulting company, focus on training qualified talents and the integration after the M&A when they Overseas M&A in the future.

• IE interfaces
• /
• v.12 no.4
• /
• pp.635-642
• /
• 1999

Recently, business application vendors have responded to customer demand with several technological and organizational changes for reflecting network-oriented process flow with electronic communication and expanding their market. In organizational changes. Vendors are adding new functionality to their core offerings through mergers and acquisitions, or by partnering with front-office operation and SCM vendors. And technological changes are embracing the development of component-based application and middleware technology to be possible with integration of their function modules. We will present the design and development process of component-based SCM system to be integrated with heterogeneous ERP under implementation. Especially, we survey and analyze the technology related with CBD(Component-Based Development) to be adapted this research - component's design and methodology, the interface for component integration, middleware's development methodology of Enterprise Middleware vendo to bundle various types of middleware into a single package product with easy-to-use interface.

• Journal of Distribution Science
• /
• v.12 no.7
• /
• pp.45-51
• /
• 2014

Purpose - This study aims to explore the success of Lotte Mart in the global market, as well as examining the factors related to its entry methods. Research design, data, and methodology - This study analyzed the differences between Lotte Mart and E-mart in terms of their market entry methods, based on references and secondary data. This study is based on qualitative research that analyzes actual cases. Based on the results, this study analyzed and discussed actual cases based on references and secondary data, including newspaper interviews on Lotte Mart. Results - Lotte Mart succeeded in adapting to local markets it did this by ensuring the use of both mergers and acquisitions (M&As) and greenfield methods. In contrast, E-mart utilized only greenfield methods. Conclusions - The findings of this study may not be generalized to all industries, as only Lotte Mart was examined using the case analysis method. Therefore, the successful market entry modes of various companies should be explored in terms of FDI.

• International Area Studies Review
• /
• v.20 no.4
• /
• pp.147-161
• /
• 2016

Based on the samples of the Chinese listed companies, this paper studies the influence of political connection on enterprises M&A. We show that the political networks of the listed corporations in China considerably affect their M&A activities. More and greater M&A appear on the companies with political connection. The government mostly influences the political connections on the enterprises M&A. Moreover, we try to find out how much political connection affect the results of the enterprises M&A. Our study can contribute to a new aspect of the political connection in literature, as well as its fiscal consequences in China.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.12 no.6
• /
• pp.49-63
• /
• 2017

The purpose of this study is to analyze the effects of the collective characteristics of SMEs on M&A activity on the disclosure effect of mergers and long-term business performance after mergers. From 2000 to 2012, we examine 717 cases of small and medium-sized enterprises (SMEs) using multiple regression analysis and difference analysis. The results of this study are as follows. First, it is confirmed that the effect on the merger announcement effect is the same as the previous study on the Korean capital market listed companies except for the effect of diversification, listing effect, and cross-border effect. In addition, we have found that firms with higher performance in the past have higher excess returns in the disclosure effect of mergers and acquisitions. Second, unlike the previous studies that non-related mergers have a positive effect on long-term operating performance, for the characteristics of SMEs with lower market competitiveness than that of average listed companies, SMEs merging with same industry group companies have a positive effect on long-term operating performance. This study provides a new perspective on the merger and acquisition of SMEs by examining the effects of M&A announcement and long-term performance.

• The Korean Journal of Financial Management
• /
• v.25 no.2
• /
• pp.191-213
• /
• 2008

This study tests and reconfirms the wealth transfer of mergers and acquisitions(M&As) by examining the changes in and the relationship between shareholder and bondholder wealth after the announcements of M&As for the publicly listed firms in Korea Stock Exchange and KOSDAQ market during $1999{\sim}2006$. The change in shareholder wealth is measured by the Cumulative Abnormal Return(CAR) at the M&A announcements, and the change in bondholder wealth is calculated using the Yield Spread Change(YSC) and the change in acquiring firms' credit ratings. The empirical tests show that the CAR of 344 sample acquiring firms at the announcement is 3.59%, which confirms results of the prior research on M&As in Korean market. The average YSC for 35 sample acquiring firms between $2001{\sim}2006$ proves to be negative when we use the yield spread of firms with comparable credit ratings as a benchmark, which means that the acquiring firms' bondholders gain with the announcements of M&As. We find the same result using another benchmark-the yield spread of government bonds. The improvement in the acquiring firms' credit ratings one year after the M&As also indicates that the M&As, on average, increase bondholder wealth. Our test results are consistent with those of the existing studies on the effect of bondholder wealth after the M&As in the United States, which shows that the bondholder wealth increases after the M&As. We do not find the evidence that there is a wealth transfer from the acquiring firms' bondholders to the shareholders after the M&A announcements. Rather, this study confirms that the wealth of the acquiring firms' bondholders increases in the M&As in Korea.

• Journal of Korea Port Economic Association
• /
• v.27 no.2
• /
• pp.261-273
• /
• 2011

Mega-corporations are emerging as a result of M&As (mergers and acquisitions) in the logistics industry. The global logistics market has progressed in a continuously competitive manner. Global logistics corporations provide integrated set of services, from production to disposal in order to manage the process efficiently throughout the diverse regions of the world. To advance into an total integrated logistics provider, the corporation must have professional knowledge in logistics and information technology which are necessary to deliver effective integrated logistics solutions. The government has integrated the logistics corporations both horizontally and vertically with the aim to foster logistics corporations possessing global competitiveness. Six years have passed since the implementation of the comprehensive (total) logistics industry certification system in pursuit of making Korea the hub for the Northeast Asian logistics market. This study compares and analyzes the efficiency of nine mega integrated logistics providers by applying the CCR model and BCC model. Each of the nine corporations is subject to certification as integrated logistics corporations. In Korea, nine corporations are certified individually as integrated logistics corporations out of the 31 logistics providers. The analysis showed that the Glovis was the most efficient integrated logistics provider reaching 100% in efficiency and displayed the highest efficiency for six consecutive years from 2005 to 2010. The study also found that the Glovis will be able to maintain 100% in efficiency rate, even though the input are increased over six times as many as those of 2010.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.14 no.1
• /
• pp.85-93
• /
• 2013

While relatively many researches have been performed on the legal issues of leverage buyout(LBO) in the Korean capital market, the on-going 'interdisciplinary studies' between the legal and the financial aspects of LBO financing structure seems to be relatively few so far. In this particular study, the concept and major financing structures on LBO have been discussed, by which domestic investors including institutional investors, may acquire in-depth knowledge on the issue given the dynamically changing circumstances surrounding the Korean domestic capital market. Moreover, legal analyses related to the conventional case studies on two types of LBO structures such as 'asset-backed LBO' and 'merger-related LBO', have been illustrated, coupled with the review of the previous literature on mergers & acquisitions(M&A) related to the financial aspects of LBO financing structure. From the director's perspective, who is employed by an acquired firm, legal issues in terms of 'fiduciary duty' and 'duty of loyalty' have been discussed, along with the logical scope of 'business judgement principle' in terms of modern finance theory.

• Korea Trade Review
• /
• v.48 no.1
• /
• pp.263-285
• /
• 2023

The purpose of this study is to examine the business model, growth process, and success factors of the successful super app Gojek in the Southeast Asian and Indonesian markets. Gojek's business model analysis focused on the business canvas (9 blocks) that many companies have used to establish business models. Gojek's growth process was analyzed based on timeline. Gojek 1.0 is from the start of the ride hailing service. Gojek 2.0 is a leap forward into a life-friendly platform. Gojek 3.0 is a process of expanding and diversifying domestic and foreign businesses. Gojek 4.0 is a stage of changing to GoTo through mergers with Tokopedia, and setting a higher leap forward. Based on this, the success factors of Gojek are ① Hyperlocalization ② First mobile ③ A company that is loved through mission execution ④ Provide financial inclusion ⑤ Business expansion and diversification through mergers and acquisitions and partnerships ⑥ Entry into overseas markets ⑦ Attracting various partners and investment ⑧ Lock-in effect and hyperpersonalization. The implications obtained through this study and the limitations and direction of the study were discussed.