A Study on the Improvement of the Employee Stock Ownership Plans (우리사주제의 개선에 대한 연구)
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- Journal of Venture Innovation
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- v.3 no.2
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- pp.95-109
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- 2020
The source of value-added creation in modern times has been transformed from material to man's value-added generating power, and ownership of the means of production has been converted from a particular landlord, capitalist to a person with value-added capacity, and a system of capital participation is needed beyond the profit-sharing system or performance incentive system in which workers of an enterprise participate in simple profits if they significantly increase the added value of the company. It is also necessary to introduce our private stock system as a means of addressing the problem of capital bias and for the stable development of capitalism. The purpose of Employee Stock Ownership Plans is to improve the economic and social status of workers and promote labor-management cooperation by allowing workers to acquire and hold shares of the stock company in which the employee ownership association is established through the employee ownership association, but the reality is that our stock ownership system has failed to achieve its purpose due to insufficient protection against the employee. In terms of welfare, the acquisition of our company shares should include active government support for the welfare of workers' ownership on a social welfare level rather than on the logic of the capital market, and in terms of investment, it would not be appropriate to apply the regulation for investor protection to see workers' acquisition of our company shares as 'investment' in the view of workers' willingness to own shares on the stock market. Therefore, as a way to support and deregulate employee's stock acquisition, 1. Expanding direct support, such as tax support, 2. As employee's stock ownership association is being discussed as a division's nature, it is less effective in terms of various management, not investment, and 3. Those who own stocks with 1% of the company's shares and 300 million won in face value will be classified as major shareholders. As a way to reduce the risk of management of our company owners and cooperative funds, As a measure to reduce the risk of management of our company owners and cooperative funds, only our employee shareholders' association shall manage the fund in a long-term deposit, and even though our employee's stock is managed by the association or company after the end of the deposit period, the management of each employee shall be allowed and In terms of improving the utilization of our company's stock and fund, 1. Employee's stockholders are prohibited from lending during the deposit period, but it is necessary to improve profitability by allowing them to borrow under strict restrictions, 2. It is necessary to make the use of the employee's welfare funds available for the preservation of losses, and to stipulate the redemption obligations of unlisted companies in order to improve the redemption system of our company.
Introduction As consumers' purchase behavior change into a rational and practical direction, the discount store industry came to have keen competition along with rapid external growth. Therefore as a solution, distribution businesses are concentrating on developing PB(Private Brand) which can realize differentiation and profitability at the same time. And as improvement in customer loyalty beyond customer satisfaction is effective in surviving in an environment with keen competition, PB is being used as a strategic tool to improve customer loyalty. To improve loyalty among PB users, it is necessary to develop PB by examining properties of a customer group, first of all, quality level perceived by consumers should be met to obtain customer satisfaction and customer trust and consequently induce customer loyalty. To provide results of systematic analysis on relations between antecedents influenced perceived quality and variables affecting customer loyalty, this study proposed a research model based on causal relations verified in prior researches and set 16 hypotheses about relations among 9 theoretical variables. Data was collected from 400 adult customers residing in Seoul and the Metropolitan area and using large scale discount stores, among them, 375 copies were analyzed using SPSS 15.0 and Amos 7.0. The findings of the present study followed as; We ascertained that the higher company reputation, brand reputation, product experience and brand familiarity, the higher perceived quality. The study also examined the higher perceived quality, the higher customer satisfaction, customer trust and customer loyalty. The findings showed that the higher customer satisfaction and customer trust, the higher customer loyalty. As for moderating effects between PB and NB in terms of influences of perceived quality factors on perceived quality, we can ascertain that PB was higher than NB in the influences of company reputation on perceived quality while NB was higher than PB in the influences of brand reputation and brand familiarity on perceived quality. These results of empirical analysis will be useful for those concerned to do marketing activities based on a clearer understanding of antecedents and consecutive factors influenced perceived quality. At last, discussions about academical and managerial implications in these results, we suggested the limitations of this study and the future research directions. Research Model and Hypotheses Test After analyzing if antecedent variables having influence on perceived quality shows any difference between PB and NB in terms of their influences on them, the relation between variables that have influence on customer loyalty was determined as Figure 1. We established 16 hypotheses to test and hypotheses are as follows; H1-1: Perceived price has a positive effect on perceived quality. H1-2: It is expected that PB and NB would have different influence in terms of perceived price on perceived quality. H2-1: Company reputation has a positive effect on perceived quality. H2-2: It is expected that PB and NB would have different influence in terms of company reputation on perceived quality. H3-1: Brand reputation has a positive effect on perceived quality. H3-2: It is expected that PB and NB would have different influence in terms of brand reputation on perceived quality. H4-1: Product experience has a positive effect on perceived quality. H4-2: It is expected that PB and NB would have different influence in terms of product experience on perceived quality. H5-1: Brand familiarity has a positive effect on perceived quality. H5-2: It is expected that PB and NB would have different influence in terms of brand familiarity on perceived quality. H6: Perceived quality has a positive effect on customer satisfaction. H7: Perceived quality has a positive effect on customer trust. H8: Perceived quality has a positive effect on customer loyalty. H9: Customer satisfaction has a positive effect on customer trust. H10: Customer satisfaction has a positive effect on customer loyalty. H11: Customer trust has a positive effect on customer loyalty. Results from analyzing main effects of research model is shown as