• Title/Summary/Keyword: Multi-Market Firms

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The Effect of Shopping Value on Continuous Use Intention of Online Cross-border Shopping Mediated by Curiosity and Self-efficacy -Comparing Heavy and Light User- (온라인 해외직접구매의 쇼핑가치가 호기심 및 자기효능감을 매개로 지속사용의도에 미치는 영향 -헤비유저와 라이트유저의 비교-)

  • Yoon, Namhee;Kim, Hyunsook;Choo, Ho Jung
    • Journal of the Korean Society of Clothing and Textiles
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    • v.44 no.5
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    • pp.1004-1018
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    • 2020
  • Advances in e-commerce enable consumers to shop efficiently for fashion products in global markets in addition, the market size of purchasing directly from foreign websites are also increasing. This study investigates the effects of hedonic and utilitarian shopping values on the continuous use intention of online cross-border shopping. Curiosity and self-efficacy were introduced as mediating variables between shopping values and user intentions. A web-based survey is conducted on female consumers, who have experiences to buy fashion products by online cross-border shopping. A total of 472 responses were collected from a panel of online survey firms. Data are analyzed using confirmatory factor analysis, structural equation modeling, and multi-group SEM by AMOS 21.0. According to the results of the structural equation model test, hedonic value affected continuous use intention of online cross-border shopping as mediated by curiosity and self-efficacy; in addition, utilitarian value influenced self-efficacy, which mediated relations between the utilitarian value and the continuous use intention. The research model was also tested to compare heavy users and light users of online cross-border shopping. For heavy users, the effect of hedonic value on curiosity was significantly stronger than for light users. Several implications are suggested based on the results.

A Study on the Cost of Capital of Islamic Enterprise (이슬람기업의 자본조달비용에 관한 연구)

  • Choi, Tae-Yeong
    • International Area Studies Review
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    • v.13 no.2
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    • pp.505-523
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    • 2009
  • We study the cost of capital of Islamic enterprise using the Capital Asset Pricing Model(CAPM). When there exists no risk-free interest rate, the security market line(SML) of Islamic enterprise shows an upward slope starting from the origin. The slope is bigger than that of SML with risk-free interest rate. This is because the cost of capital of Islamic enterprise is higher than that of western firms for the same level of systematic risk. When the effect of zakat is considered, the risk-free interest rate is replaced by minimum required rate of return. The SML of Islamic enterprise reveals an upward slope but it does not pass through the origin. This is because Islamic enterprise cannot invest on risk-free asset. In order to overcome the theoretic limits of CAPM, we propose to use multi-factor approach such as arbitrage pricing model instead of single-factor model for future study.

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)

  • Lee, Yunha;Kang, Seung-Gyu;Park, Jaemin
    • 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 Effects of CEO's Narcissism on Diversification Strategy and Performance in an Economic Downturn: The Moderating Role of Corporate Governance System (경기침체기의 다각화전략과 성과에 대한 최고경영자 나르시시즘의 영향과 기업지배구조의 조절효과에 대한 연구)

  • Yoo, Jae-Wook
    • Management & Information Systems Review
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    • v.35 no.4
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    • pp.1-19
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    • 2016
  • The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.

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Development of Korean Green Business/IT Strategies Based on Priority Analysis (한국의 그린 비즈니스/IT 실태분석을 통한 추진전략 우선순위 도출에 관한 연구)

  • Kim, Jae-Kyeong;Choi, Ju-Choel;Choi, Il-Young
    • Asia pacific journal of information systems
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    • v.20 no.3
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    • pp.191-204
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    • 2010
  • Recently, the CO2 emission and energy consumption have become critical global issues to decide the future of nations. Especially, the spread of IT products and the increased use of internet and web applications result in the energy consumption and CO2 emission of IT industry though information technologies drive global economic growth. EU, the United States, Japan and other developed countries are using IT related environmental regulations such as WEEE(Waste Electrical and Electronic Equipment), RoHS(Restriction of the use of Certain Hazardous Substance), REACH(Registration, Evaluation, Authorization and Restriction of CHemicals) and EuP(Energy using Product), and have established systematic green business/IT strategies to enhance the competitiveness of IT industry. For example, the Japan government proposed the "Green IT initiative" for being compatible with economic growth and environmental protection. Not only energy saving technologies but energy saving systems have been developed for accomplishing sustainable development. Korea's CO2 emission and energy consumption continuously have grown at comparatively high rates. They are related to its industrial structure depending on high energy-consuming industries such as iron and steel Industry, automotive industry, shipbuilding industry, semiconductor industry, and so on. In particular, export proportion of IT manufacturing is quite high in Korea. For example, the global market share of the semiconductor such as DRAM was about 80% in 2008. Accordingly, Korea needs to establish a systematic strategy to respond to the global environmental regulations and to maintain competitiveness in the IT industry. However, green competitiveness of Korea ranked 11th among 15 major countries and R&D budget for green technology is not large enough to develop energy-saving technologies for infrastructure and value chain of low-carbon society though that grows at high rates. Moreover, there are no concrete action plans in Korea. This research aims to deduce the priorities of the Korean green business/IT strategies to use multi attribute weighted average method. We selected a panel of 19 experts who work at the green business related firms such as HP, IBM, Fujitsu and so on, and selected six assessment indices such as the urgency of the technology development, the technology gap between Korea and the developed countries, the effect of import substitution, the spillover effect of technology, the market growth, and the export potential of the package or stand-alone products by existing literature review. We submitted questionnaires at approximately weekly intervals to them for priorities of the green business/IT strategies. The strategies broadly classify as follows. The first strategy which consists of the green business/IT policy and standardization, process and performance management and IT industry and legislative alignment relates to government's role in the green economy. The second strategy relates to IT to support environment sustainability such as the travel and ways of working management, printer output and recycling, intelligent building, printer rationalization and collaboration and connectivity. The last strategy relates to green IT systems, services and usage such as the data center consolidation and energy management, hardware recycle decommission, server and storage virtualization, device power management, and service supplier management. All the questionnaires were assessed via a five-point Likert scale ranging from "very little" to "very large." Our findings show that the IT to support environment sustainability is prior to the other strategies. In detail, the green business /IT policy and standardization is the most important in the government's role. The strategies of intelligent building and the travel and ways of working management are prior to the others for supporting environment sustainability. Finally, the strategies for the data center consolidation and energy management and server and storage virtualization have the huge influence for green IT systems, services and usage This research results the following implications. The amount of energy consumption and CO2 emissions of IT equipment including electrical business equipment will need to be clearly indicated in order to manage the effect of green business/IT strategy. And it is necessary to develop tools that measure the performance of green business/IT by each step. Additionally, intelligent building could grow up in energy-saving, growth of low carbon and related industries together. It is necessary to expand the affect of virtualization though adjusting and controlling the relationship between the management teams.

Developing the Strategies of Redesigning the Role of Retail Stores Using Cluster Analysis: The Case of Mongolian Retail Company (클러스터링을 통한 유통매장의 역할 재설계 전략 수립: 몽골유통사를 대상으로)

  • Tsatsral Telmentugs;KwangSup Shin
    • The Journal of Bigdata
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    • v.8 no.1
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    • pp.131-156
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    • 2023
  • The traditional retail industry significantly changed over the past decade due to the mobile and online technologies. This change has been accompanied by a shift in consumer behavior regarding purchasing patterns. Despite the rise of online shopping, there are still specific categories of products, such as "Processed food" in Mongolia, for which traditional shopping remains the preferred purchase method. To prepare for the inevitable future of retail businesses, firms need to closely analyze the performance of their offline stores to plan their further actions in a new multi-channel environment. Retailers must integrate diverse channels into their operations to stay relevant and adjust to the shifting market. In this research, we have analyzed the performance data such as sales, profit, and amount of sales of offline stores by using clustering approach. From the clustering, we have found the several distinct insights by comparing the circumstances and performance of retail stores. For the certain retail stores, we have proposed three different strategies: a fulfillment hub store between online and offline channels, an experience store to elongate customers' time on the premises, and a merge between two non-related channels that could complement each other to increase traffic based on the store characteristics. With the proposed strategies, it may enhance the user experience and profit at the same time.

The Effects of Environmental Dynamism on Supply Chain Commitment in the High-tech Industry: The Roles of Flexibility and Dependence (첨단산업의 환경동태성이 공급체인의 결속에 미치는 영향: 유연성과 의존성의 역할)

  • Kim, Sang-Deok;Ji, Seong-Goo
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.2
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    • pp.31-54
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    • 2007
  • The exchange between buyers and sellers in the industrial market is changing from short-term to long-term relationships. Long-term relationships are governed mainly by formal contracts or informal agreements, but many scholars are now asserting that controlling relationship by using formal contracts under environmental dynamism is inappropriate. In this case, partners will depend on each other's flexibility or interdependence. The former, flexibility, provides a general frame of reference, order, and standards against which to guide and assess appropriate behavior in dynamic and ambiguous situations, thus motivating the value-oriented performance goals shared between partners. It is based on social sacrifices, which can potentially minimize any opportunistic behaviors. The later, interdependence, means that each firm possesses a high level of dependence in an dynamic channel relationship. When interdependence is high in magnitude and symmetric, each firm enjoys a high level of power and the bonds between the firms should be reasonably strong. Strong shared power is likely to promote commitment because of the common interests, attention, and support found in such channel relationships. This study deals with environmental dynamism in high-tech industry. Firms in the high-tech industry regard it as a key success factor to successfully cope with environmental changes. However, due to the lack of studies dealing with environmental dynamism and supply chain commitment in the high-tech industry, it is very difficult to find effective strategies to cope with them. This paper presents the results of an empirical study on the relationship between environmental dynamism and supply chain commitment in the high-tech industry. We examined the effects of consumer, competitor, and technological dynamism on supply chain commitment. Additionally, we examined the moderating effects of flexibility and dependence of supply chains. This study was confined to the type of high-tech industry which has the characteristics of rapid technology change and short product lifecycle. Flexibility among the firms of this industry, having the characteristic of hard and fast growth, is more important here than among any other industry. Thus, a variety of environmental dynamism can affect a supply chain relationship. The industries targeted industries were electronic parts, metal product, computer, electric machine, automobile, and medical precision manufacturing industries. Data was collected as follows. During the survey, the researchers managed to obtain the list of parts suppliers of 2 companies, N and L, with an international competitiveness in the mobile phone manufacturing industry; and of the suppliers in a business relationship with S company, a semiconductor manufacturing company. They were asked to respond to the survey via telephone and e-mail. During the two month period of February-April 2006, we were able to collect data from 44 companies. The respondents were restricted to direct dealing authorities and subcontractor company (the supplier) staff with at least three months of dealing experience with a manufacture (an industrial material buyer). The measurement validation procedures included scale reliability; discriminant and convergent validity were used to validate measures. Also, the reliability measurements traditionally employed, such as the Cronbach's alpha, were used. All the reliabilities were greater than.70. A series of exploratory factor analyses was conducted. We conducted confirmatory factor analyses to assess the validity of our measurements. A series of chi-square difference tests were conducted so that the discriminant validity could be ensured. For each pair, we estimated two models-an unconstrained model and a constrained model-and compared the two model fits. All these tests supported discriminant validity. Also, all items loaded significantly on their respective constructs, providing support for convergent validity. We then examined composite reliability and average variance extracted (AVE). The composite reliability of each construct was greater than.70. The AVE of each construct was greater than.50. According to the multiple regression analysis, customer dynamism had a negative effect and competitor dynamism had a positive effect on a supplier's commitment. In addition, flexibility and dependence had significant moderating effects on customer and competitor dynamism. On the other hand, all hypotheses about technological dynamism had no significant effects on commitment. In other words, technological dynamism had no direct effect on supplier's commitment and was not moderated by the flexibility and dependence of the supply chain. This study makes its contribution in the point of view that this is a rare study on environmental dynamism and supply chain commitment in the field of high-tech industry. Especially, this study verified the effects of three sectors of environmental dynamism on supplier's commitment. Also, it empirically tested how the effects were moderated by flexibility and dependence. The results showed that flexibility and interdependence had a role to strengthen supplier's commitment under environmental dynamism in high-tech industry. Thus relationship managers in high-tech industry should make supply chain relationship flexible and interdependent. The limitations of the study are as follows; First, about the research setting, the study was conducted with high-tech industry, in which the direction of the change in the power balance of supply chain dyads is usually determined by manufacturers. So we have a difficulty with generalization. We need to control the power structure between partners in a future study. Secondly, about flexibility, we treated it throughout the paper as positive, but it can also be negative, i.e. violating an agreement or moving, but in the wrong direction, etc. Therefore we need to investigate the multi-dimensionality of flexibility in future research.

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