• Journal of Distribution Science
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• v.19 no.3
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• pp.5-14
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• 2021

Purpose: This study aims to clarify the behavioral extraction and ability of venture merchants, who actively challenge commerce in the face of harsh living environments. Research design, data and methodology: Adopting the concept of retail functions and retail skills, this study examines how venture merchants perform retail functions, and identifies the required retail skills. This study analyzed primary data obtained through an interview with a bookstore called Lunuganga. Results: The venture merchant purchases products based on his self-assertion and creates an original "store identification." Moreover, he draws a changing "own-store customers image" and acquires "own-store customers," that is, customers acquired by him by building an original store identity. He sells products to "own-store customers" who identify with the store. The retail skills identified as required by venture merchants to carry out such retail functions were "skill to draw a store identification" and "skill to draw own-store customer image." Conclusions: Venture merchants' unique retail functions and retail skills suggest a new basis for the existence of small and medium-sized retailers. It is necessary to build a generalized theoretical hypothesis model by refining the concept presented in this paper by repeating research targeting venture merchants in the same industry and different industries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.141-158
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• 2022

This study identifies related factors by analyzing the effects of the psychological characteristics and competency factors of traditional market merchants on business performance, and at the same time verifies the moderating effect of government support policies. The research focus was on verifying the causal relationship. This study was conducted targeting the representative traditional market merchants in the metropolitan area who have experience in traditional market specialization projects or are currently in the process of specialization projects. An empirical study was performed based on the collected data. The analysis results are as follows. First, it was found that self-esteem as a psychological characteristic factor of merchants, customer management competency as merchant competency, and informatization capability had a significant positive (+) effect on financial performance among business performance. Second, as a result of examining the moderating effect of government support policies, it was found that product capability had a significant positive (+) effect on financial performance among business performance. It was found that self-esteem and product competency had a significant positive (+) effect on the will to continue business among business performance. The practical results of this study are the research papers to measure the business performance of traditional market merchants using the government support policy as a moderating variable, using the psychological characteristics and competency factors of traditional market merchants as independent variables. For this purpose, it will be positively evaluated that the psychological characteristics of merchants and merchant competency factors affect business performance, and that meaningful research results are derived by analyzing the moderating effect of government support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.5
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• pp.105-113
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• 2019

This study focuses on analyzing the key success factors of the traditional market by analyzing the impact on the business performance of merchants in the traditional market. Based on the existing research on entrepreneurship, psychological characteristics, capabilities, and physical characteristics of the market were considered as merchant characteristics. As a result, the risk characteristics and merchant pride, which are internal characteristics of merchants, have a significant effect on business performance. Among the competencies of merchants, product competency, customer management competency, and price competency were found to have a significant impact on business performance. Among the physical characteristics of the market, reputation and product diversity were found to have a significant effect on business performance. The results of this study are meaningful to empirically prove the relevance of the merchant's internal characteristics and capabilities, and the market's physical characteristics to the business performance of market merchants. Could be utilized. However, the limitation of this study is that there may be differences in each industry in the case of market merchant products. In future studies, empirical studies on the trader's relevance to business capability and business performance should be continued.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.221-233
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• 2020

The purpose of this study is to prove the relationship of major variables derived based on prior research on factors affecting the start-up performance of youth mall young merchants in traditional markets, and to empirically analyze the relationship between major factors based on the results. The factors affecting the start-up performance of the youth mall in traditional markets were divided into government support programs and entrepreneurship, and the cooperation between the start-up preparation and merchants was established as variables that mediated the influence between the start-up performance and entrepreneurship performance. The analysis showed that entrepreneurship had a statistically significant positive effect on start-up readiness, while government-supported programs, entrepreneurship and start-up readiness had a significant positive effect on start-up performance. In addition, as a result of verifying the mediated effects of the research model, it was verified that the indirect effects of entrepreneurship on the performance of start-up by mediating the preparation of start-ups were significant. Through this study, the government support program should be supported in consideration of the characteristics of young merchants, not of the current consistent support, and means that youth merchants should be thoroughly verified in the recruitment, selection, and promotion stages, and young merchants with high entrepreneurship and start-up readiness should be selected.

• Korean Business Review
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• v.17
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• pp.153-183
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• 2004

The Gaisong Merchants can be regarded to playa pioneering role to activate the Korea's trade with foreign countries. In the early period of Yi-Dynasty, the Gaisong Merchants focused on personal trade, but in the middle period of Yi-Dynasty, they entered to the realm of governmental trade. Furthermore, their business activities widened to various forms of trades, for example, smuggling. Utilizing accumulated capital, Gaisong merchants expanded their trading activities to their neighboring countries such as Japan and China. In recent times, it is necessary for modem Korean companies to diversify risks through the establishment of corporations for production, marketing and R&D abroad or through joint venture, M&A and strategic alliance with foreign companies in order to reduce the risks originated from volatile economic and political situations. In this study, we utilize tools of comparative study to compare Gaisong Merchants' foreign trade strategies with those of modem companies such as AMOREPACIFIC, HANILCEMENT and SHINDORICO. The purpose of the paper is to test the hypothesis that modem Korean companies grew up by following the cases of Gaisong Merchants' business activities. We summarize our main findings as follows. First, both Gaisong Merchants and modem Korean companies have common functional core capability in the field of marketing, manufacturing technology, R&D, and human resources development. Second, both Gaisong Merchants and modem Korean companies have common organizational core capability. Third, both Gaisong Merchants and modem Korean companies have common infrastructures such as planning, finance, accounting and MIS. It constitutes the infrastructure of Korea's foreign trade sector. Fourth, both Gaisong Merchants and modem companies have common organizational culture in the field of management policy and philosophy. Actually, those factors are evaluated to be driving forces of Koera's success in foreign trade. In conclusion, the business activities of Gaisong Merchants who represented the peculiarity of Korean business spirit are partially inherited to current Korean business management. The value system and behavior pattern of modern Korean companies is succeeded from the spirit of Gaisong Merchants and it playa major role to specify the identity of Korean business administration.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.79-91
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• 2014

In this study, We investigated the correlation between the education service quality for small business in the merchant college, and student satisfaction and behavioral intention. For this purpose, a factor relationship between the education service quality, and student satisfaction and behavioral intention was examined focusing on the existing literature and previous studies. Also, a survey was conducted for a total of 450 traditional market merchants in metropolitan areas who have completed education from the merchant college for analysis. The result of this study are as follows. First, The relationship between educational service quality and behavioral intention, and student satisfaction except tangibles had significant impacts, Second, student satisfaction was shown to have a positive mediating effect on the relationship between educational service quality and behavioral intention.

• Journal of Venture Innovation
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• v.2 no.1
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• pp.33-55
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• 2019

Recently, the perception of Corporate Social Responsibility (CSR) has changed. Until now, corporate social responsibility has been recognized as a temporary means to improve the image of a company, but there is a growing recognition that it is a prerequisite for sustainable growth of the entity. Social responsibility of enterprises has altered according to the times and economic environment, and as the global value chain has become important, it has become a growth strategy for small and medium-sized exporters. Under these circumstances, CSR is increasingly an integral part of the activities of companies, and this is no exception for small and medium-sized enterprises. Nevertheless, Korean small businesses' CSR is still lacking, and so the case of Japan, where CSR has spread to small and medium-sized businesses despite the short period of time, is believed to give us policy implications. In the Japanese case, corporate social responsibility has been traditionally passed down by Omi merchants in the 17th century. The social responsibility of a company they thought was summed up by the so-called "sanspo-yoshi spirit" that is beneficial to sellers, benefits to buyers and helps society. Based on the case of Japan's CSR, which has been applied smoothly even to its small and medium-sized companies, this paper intends to suggest the following policy implications. First, the establishment and dissemination of a national long-term plan is necessary. Second, it is urgent for smaller businesses to introduce their strategic CSRs. Third, CSR, which does mutual cooperation between large and small businesses, should be pursued.

• Journal of Distribution Science
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• v.13 no.2
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• pp.95-104
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• 2015

Purpose - This is a comparative study of the market development and characteristics of Ulsan in South Korea, Fukuoka in Japan, and Yanji in China, which are major East Sea Rim cities with adjacent areas of similar natural characteristics of the sea and the country. Particularly, it considers these aspects while focusing on the evolution of networks that appear in the distribution system and at the same time examining the institutions of market activation and regulations that are handled by the central and the local government and the changing logistics due to the development of transportation and the concern of food safety, using a meso-analysis approach. Research design, data, and methodology - The study used a historical and comparative approach with a focus on case studies. It made use of various materials such as local newspaper articles, reports, literature, interviews with experts, discussions with local merchants, discussions with customers, and so forth. Results - In the case of Fukuoka, from the 1960s, due to the entry of supermarkets, supermarkets expanded and they have now come to a dominant market position in the current market. They offer a convenient and comfortable environment while providing a large mall offering a variety of educational and cultural activities for customers to meet the customers' needs, such as the preferences of Korean tourists, who appear to prefer Japanese foods. The Fukuoka City Central Wholesale Market has been exporting fruits and vegetables as well as seafood products to Korea, China, and so forth. In the case of Ulsan, as in the early 2000s, due to the expansion of supermarkets, the traditional markets have been shrinking and further, the modernization of traditional markets was conducted under the auspices of the Small Business Administration. In addition to the large discount malls, the expansion of SSM is expected to further drive the small trader bay. Shopping malls, department stores, and traditional markets contend with each other in Yanji, China, but a large number of citizens appear to prefer traditional markets and imported milk in the supermarket after the melamine scandal in China. Recently, the WanYuan (萬源) wholesale market has been partially completed and made an attempt to become a logistics hub in Northeast Asia. Conclusions - For the development of Korea's retail industry, it is important to offer the government with proposals regarding desired regulation. On the other hand, in order to enable the business of traditional markets, it requires an association for cultural tourism. At present, it would be better to provide a venture fund for the youth rather than infrastructure support. This study emphasizes the importance of institutions and policy to develop networks in the East Sea Rim. Future studies should conduct a survey on customers, managers, and merchants more carefully and systematically to understand the market situation while considering the size of the city and its evolution of markets, as well as policies and institutions.

• Journal of Distribution Science
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• v.14 no.7
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• pp.101-114
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• 2016

Purpose - The aim of this study is to investigate the benefit-sharing activities. They affect contract renewal intention between franchisers and franchisees that are linked through a contract with the intention of building their relationship from the level based on dynamic trust. This study will show a new approach on qualitative growth and consolidation of competitive power and may well be able to suggest practical ways to strengthen directions in the field of franchise industries. Research design, data, and methodology - In this study, based on literature review, we separated logistical-supporting activities and non-logistical-supporting activities from benefit-sharing activities. We modeled how benefit-sharing activities influence contract renewal intention of franchisees by dynamic trust. In particular, considering the possibility of trading concepts and characteristics of trust between providers opportunistic behaviors was defined as variables, depending on the situation and dynamic characters reveal their relationship trust concept. That is, dynamic trust having the possibility of changing depending on opportunistic risks and interdependencies by Lewis & Weigert(1985, 2012) was classified into transitional-based trust, calculated based trust, relational-based trust and balance-based on trust. The total of 104 samples from domestic franchisees being with franchisees were collected by using a structural composed questionnaire. Results - The results are as following. Benefit-sharing activities in logistical supporting activities appeared to affect the multidimensional concept of transitional trust, calculated based on trust, relationship-based trust and balance based on trust dynamic trust with all-defined impact. Non-logistical supporting activities appeared to affect significantly the positive (+) to the dynamic trust concept except transitional trust. Lewis & Weigert(1985; 2012) have proposed a dynamic confidence calculated from relations within-based trust relationship based on trust appears to affect the significant positive (+) to the balance-based confidence transactions confidence mechanism of the system side in the verified relationship. Finally, a relationship based on trust and confidence in the balance based on the Influence of dynamic renewed confidence showed significantly affect the positive(+). In particular, the balance based trust showed the acts as a mediating factors between relational trust and confidence and renew calculated. Conclusion - From the above these results, the significance from this study is as following. First, the proposed activity is to share and validate the approach by identifying the potential in the relationship from the contract with building dynamic trust, and one of the ways from the franchise headquarters and affiliated merchants mutual growth through win-win cooperation in sharing activities. Next, the dynamic segmentation confidence to suggest the possibility can be broken down over the validity and reliability test for each concept. In addition, by identifying the relationship between the dynamic level of confidence granular multi-dimensional concept, to determine the level of trust with a dynamic relationship between risk and interdependencies can be possible in franchise industries. In order to maintain and develop their mutual relationship, franchise industries should propose confidence-building steps to promote their quality improvement.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.5
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• pp.29-39
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• 2018

Recently, In traditional markets, visitors are declining. The reason is the growth of large stores and Internet shopping malls. The government continues to support and policy to revitalize traditional markets. Government support has been focused on the selective attributes of traditional markets. However, the purchase intention of users in traditional markets is lowered. The reason is that it is in the hygiene of the traditional market. This study analyzed whether the optional attributes of traditional markets and service quality increase the intention of visit, In addition, the users of the traditional market analyzed the hygiene factor as an important factor in the intention of the visit. The results of the analysis is First, convenience, accessibility, transparency, attractiveness, and economic feasibility of selective attributes of traditional markets were analyzed to affect the intention to visit. Second, the merchant efficiency, the display efficiency, the product efficiency, and the transaction efficiency of the service quality of the traditional market influence on the visit intention. However, facility efficiency was not found to have any effect. Third, merchant hygiene factors, facility hygiene factors, and commodity hygiene factors were found to affect the intention to visit. These traditional market hygiene factors were analyzed to control the intention to visit. Therefore, it can be said that the hygiene factor of the traditional market plays a role in raising the intention of visiting the traditional market in activating the traditional market. The conclusion is that merchants and support groups should be prioritized in order to revitalize traditional markets. The importance of environmental hygiene is introduced and implications for research results are suggested.