• Journal of Environmental Policy
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• v.13 no.1
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• pp.49-68
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• 2014

In 2012, Korea adopted RPS after having implemented FIT for 10 years since 2002. We show how the choice of policy between RPS and FIT affects firm's choice of intermediate goods between a domestic and a foreign supplier, given the presence of transaction costs, When transaction costs are not sufficiently high, RPS is found to create a favorable environment for the domestic provider, which has comparative disadvantage initially, to be able to enter the market and to catch up with the foreign provider. The result implies that the Korean government's decision to implement RPS was optimal, given Korea's comparative disadvantage in green energy relative to major developed countries.

• The Korean Journal of Franchise Management
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• v.12 no.1
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• pp.35-44
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• 2021

Purpose: This study examines the opportunism moderating effect by the startup experience in the relationship between franchisor and franchisees. In the case of a franchise system that has a continuous relational exchange transaction, relationship management is a very important activity because the relationship management between franchisor and franchisees improves the quality of the relationship. Nevertheless, there is insufficient of research on opportunism, which is a negative factor in managing the relationship between franchisor and franchisees in continuous relationship. Research design, data and methodology: This study, we explore the cause of opportunism based on transaction cost theory through prior research and establish a research model based by goal incongruity, uncertainty, information asymmetry, transaction specific assets, the relevance to determinant of opportunism and the startup experienced which is a moderating variable. To verify several hypotheses, the data were collected from 300 out of 1,760 domestic franchisees and analyzed using multiple regression analysis with SPSS program. Results: The findings are as follows. Goal incongruity did not affect opportunism. Opportunism increased as uncertainty increased, and as information asymmetry increased, opportunism increased. An opportunism decreased as transaction specific assets increased. Moreover, the findings show that startup experience only plays a moderating role in the relationship between information asymmetry and opportunism. Therefore, 4 out of 8 hypotheses were supported. Conclusions: The findings show that uncertainty, information asymmetry, and transaction specific assets are the determinants of opportunism. In addition, the results of the analysis of the moderating role of startup experience show that the less entrepreneurial experience, the greater the influence of information asymmetry on opportunism. Our findings mean that maintaining a successful relationship between franchisors and franchisees is possible when franchisors provide knowledge sharing, goal sharing, environmental sharing, and management information sharing to franchisees. In addition, the findings of this study shows that the contract content and management should be changed according to the entrepreneurial experience. In other words, the franchisors must share and integrate the accumulated franchisees' and franchisors' experience with the franchisees to create a synergy that can lead to successful bilateral relationship maintenance, which in turn reduces opportunism.

• Spatial Information Research
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• v.21 no.6
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• pp.69-80
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• 2013

Our country has made every efforts to develop Real Estate Transaction culture with emphasis on Licensed Realtors by introducing Real Estate Transaction Law in 1983. Also, MOLIT(Ministry of Land, Infrastructure and Transport) designated several organizations including KAR(Korea Association of Realtors) as Real Estate Transaction Information Network Licensees for data credibility enhancement and transaction transparency. Nevertheless, the level of law abiding spirit and transaction culture are still similar to those of the old 'Bokdeokbang' era. The under-developed transaction behaviors prevent the social capital of people's credibility on Licensed Realtors from advancing, and results in the outcomes of unnecessary social cost. That is, very low credibility on the data on Sales Items in the market and the fear of speculative real estate price uprise and market distortions are continuing on. In this context, the purpose of this study is to propose the model of GIS-based Modernized Real Estate Transaction System and its execution policies to support credible Real Estate Information to the general public for efficient transactions in the market. Accordingly, the study aims at contributing to the modernization of Real Estate Transactions, fostering competitiveness of Realtors in the Real Estate Market.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.3
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• pp.47-55
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• 2016

The proliferation of the Internet and related technologies has led to a new form of distribution channels, namely online retailers. The conventional offline and the new online retailers have different transaction costs perceived by the consumers in the following perspectives: the accessibility to the product information, the traffic cost and the opportunity cost for the time to visit the store, the delivery time and the possibility of 'touch and feel' to test the quality of the product. In particular, the online retailers have lower distribution cost structure in that they do not have physical stores, which results in lower selling price. Thus they continuously offer price competition against offline retailers using the lower selling cost as competitive weapon. Moreover the emergence of the social commerce is likely to intensify the competition between the online and offline retailers. To survive in this fierce competition, the offline retailers are trying to defend their business interests by sticking to offline transaction in anticipation of increased customer loyalty, customer's preference for 'touch and feel' style shopping, and others. Despite of these efforts, customers who touch and feel a product in an offline store but purchase the product through an online retailer are increasing. To protect such customers, recently, some of the offline retailers began to provide the mobile discount service (MDS) which enables the offline customers to purchase a product at a discounted price through the mobile applications. In business competitions, the price discount strategy is usually considered to secure more market share at the cost of lower profit. In this study, however, we analyze the effect of MDS as a weapon for securing more profit. To do this, we set up a game model between the online and offline retailers which incorporates the effect of the MDS. By numerically analyzing the Nash equilibrium of the game, some managerial implications for using the MDS for more profit are discussed.

• The KIPS Transactions:PartD
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• v.11D no.4
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• pp.783-798
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• 2004

An e-business client application in ubiquitous mobile computing environment may become disconnected from the enterprise server due to broken communication connections caused by the limitation of mobile computing environments(limited battery life of the mobile device, low bandwidth communication, incomplete wireless communication infrastructure, etc). It Is even Possible that mobile client application Intentionally operates in disconnected mode to reduce communication cost and the power consumption of the mobile device. We use “data hoarding” as a means of providing local autonomy to allow transactions to be processed and committed on the mobile host despite of disconnection. The key problem to this approach is the synchronization problem that serialize potentially conflicting updates from disconnected clients on master objects of the server database. In this paper, we present a new transaction synchronizing method that splits a transaction into a set of independent component transactions and give the synchronization priority on each component taking the possibility of use and conflicts in the server into consideration. Synchronization is performed component by component based un synchronization priority. After the Preferred component of a no bile transaction succeeds in synchronization with the server, the mobile transaction can pre-commit at server. A pre-committed transaction's updated value is made visible at server before the final commit of the transaction. The synchronization of the component with low synchronization priority can be delayed in adaption to wireless bandwidth and computing resources. As a result, the availability of important data updated by mobile client is increased and it can maximize the utilization of the limited wireless bandwidth and computing resources.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.12
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• pp.5500-5508
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• 2011

The purpose of this study is to find out the policy implications regarding the EU FP and EUREKA which consist of the main parts in the midst of the international technological cooperation with EU region that our government is implementing. This study consists of five chapters in all. The present situations of the international technological cooperation in EU region were investigated in chapter two. Successively, the theoretical background regarding the policy implications for the international technological cooperation in EU region was provided in chapter three. As the theories establishing the bases at this point, there are network and transaction cost theory. The research methods were provided in chapter four, and through the policy case study of our government's international technological cooperation in EU region, the theoretical establishment developed in chapter three was carried out in chapter five. Subsequently, conclusions and suggestions were drawn in chapter six.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.12
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• pp.3775-3781
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• 2009

This aims of this study is to examine the factors influencing on the channel satisfaction and preference of the mobile commerce. This model tests various theoretical research relating to technology acceptance model(TAM), transaction cost theory and service quality. The model is tested Structural Equation Modeling(SEM) using AMOS 7.0 analysis on the sample collected from 320 respondents. The result of hypothesis testing is as follows. First, usefulness, asset specificity, uncertainty, trust and responsiveness were influenced by channel satisfaction. Second, channel satisfaction was influenced positively by channel preference.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2007.11a
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• pp.488-492
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• 2007

In this study, we investigated how to distinguish customer delivered value to re-purchasing in fierce B2C industry. To identify key managerial variables that could distinctively impact re-purchasing, we first identified customer value proposition as per the customer buying decision process. Next, core value propositions of choice efficiency and competitive price are defined to determine vendor satisfaction during the searching stage and purchasing stage. The trust level is also introduced in the sense of reflecting confirmation to guarantee after purchase security. Then, significant managerial variables to impact on core value propositions are extracted. The resulting structural model illustrated that search convenience and quality assurance affect the choice efficiency, and re-purchase intention is strongly explained by both the vendor satisfaction and trust level. The empirical testing results also support that transaction cost reduction is key determinant of shopping at the Internet shopping mall. Furthermore, trust level should be combined to induce re-purchasing in addition to transaction cost savings.

• Korean Journal of Organic Agriculture
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• v.19 no.4
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• pp.435-461
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• 2011

This study was conducted field surveys and theoretical discussion whether small farmers thinks there are economics of scope in small organically grown cropslivestock farming cycling system. The discussions are summarized as follows. At the end of October 2011, the cycling agriculture farms are only a total of 15 farmers, 0.1% of total organic farms in Korea. The FMD disease, FTA, family farm structure, the importance of animal health and welfare, agricultural cycles, when considering the valuation of the multifunctionality, alternative agriculture is small farming cycling system. Organic agriculture is a 'cooperation-cycling-family farm' in the interaction it is important to understand. The two groups were surveyed. Group 1 is 6 farmers who practicing cycling farming system, and Group 2 is the 33 farmers who wish to cycling farming system. Interview survey and the survey results was obtained as follows. First, We find that there are strong economies of scope, due to a decreased costs have increased net profit. Second, the multifunctional values is realized also cycling farming system. Third, but some certification standards leads to high transaction cost. Thus, a small family farm who wishing to target organic livestock certification standards need to improve.

• International Commerce and Information Review
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• v.10 no.2
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• pp.391-410
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• 2008

Emphasis on relationship management might be found out from Williamson (1975), who tried to elucidate why an organization exists. According to his transaction cost theory, an organization is established to evade opportunistic actions of the market and build up a hierarchy of value chain. However, judged from the perspective of exchange relationship in a trade, the transaction cost theory was likely to approach to buyer-seller relationship by the mechanism of competition. Therefore, an organization exists to control the competition of the market. Relationship management suggested by relationship marketing focuses on cooperation between buyers and sellers, rather than competition against each other. Relationship management aims to provide a framework for making a market relationship that might become an asset or a resource of the firm. In the process of maintaining and strengthening long-term and cooperative relationship with all stakeholders included customers, suppliers and staff, they continue to create new values. The purpose of this empirical research, by investigating how relationship management of multinational enterprises influences on their competitive advantages and performances, is to suggest that a cooperative relationship established for a long time in the market, so-called quasi-market relationship, substitutes for an organization.