• Journal of Korea Trade
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• v.25 no.6
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• pp.20-33
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• 2021

Purpose - The growth in consumers' online shopping has even been accelerated by the COVID-19 pandemic. While the purchase can be made from any countries online, the purpose is to examine the effect of the country of the online retailer (COOR) on consumers' perceived risk and purchase motivation, focusing on the retailer not on the brand. Design/methodology - Survey data from online shoppers are analized using the structural equation model. Findings - COOR, like COO of the brand manufacturer, positively affect consumer's purchase intension. First, the images and the perceived psychic distances of the COOR affects both perceived risk and purchase confidence. Secondly, this perceived risk and confidence they put on the transaction then affect the purchase intension of the consumer. Originality/value - We show that the quality of the signal comes not only from the manufacturer-branded product item itself with a certain COO, but also from the retailer who carries it.

• Journal of Sport and Applied Science
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• v.6 no.2
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• pp.1-7
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• 2022

Purpose: This study began with an interest in the meaning and importance of Olympic mascots, and this paper aimed to analyze the types and features of mascots by comparing the Summer Olympics mascots from Munich 1972 to Tokyo 2020 and ultimately to understand the attributes of the Summer Olympic mascots. Research design, data, and methodology: The approach of this study is the exploratory approach by literature reviews. This study carried out exploratory research on thinking about understanding the characteristics of the Summer Olympic Games Mascots. Results: First, the Munich 1972 mascot, Waldi is known as the first official mascot. Second, many mascots are designed the most in animal form. But the process of change according to the material of the Olympic mascot changed from a simple animal form to a finely expressed hybrid mascot, and multiple mascots appeared in the 2000s. Conclusions: The Olympic mascot is a representative symbol of the Olympic Games, representing the identity of the host country. Five attributes of the Olympic mascots were identified: friendliness, a symbolic meaning, originality, diversity, and value. Further implications were discussed.

• Journal of Korea Trade
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• v.25 no.7
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• pp.19-40
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• 2021

Purpose - This paper's purpose is to investigate how foreign ownership and innovation affect firm value. Design/methodology - Firm innovation is defined as operational efficiency, which is calculated by adopting data envelopment analysis (DEA). Additionally, R&D intensity is included as a measure of innovation in the analysis. We used firm-level data from manufacturing companies in Korea. The sample comprised 3,753 firm-year observations for every year in the period 2003-2017. Findings - We found that foreign ownership and innovation are positively related to firm value (Tobin's Q). Foreign ownership moderates innovation's contribution to firm value, implying that foreign ownership may enhance the value relevance of firm innovation. In addition, we found that firm innovation partially mediates the relationship between foreign ownership and firm value. Originality/value - This highlights the important role of foreign investors' monitoring; wherein foreign investors enhance firm value by facilitating firm innovation. Our results suggest that foreign ownership can be crucial for innovation and may serve to address weak ownership structures.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.271-280
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• 2021

Purpose - This research aims to investigate the influence of social exclusion on conspicuous consumption. Specifically this research suggested that the influence of social exclusion on conspicuous consumption would be different depending on consumers' psychological characteristics such as internal attribution tendency and self-esteem. Design/methodology/approach - The experiment was conducted to verify hypotheses. 110 sample data were collected from the experiment and SPSS PROCESS Macro was used for data analysis. Findings - The result revealed that the interaction effect of social exclusion and internal attribution was significant. Specifically, social exclusion had on positive impact on conspicuous consumption for consumers with high level of internal attribution tendency. In addition, conspicuous consumption was pronounced for consumers having both high level of internal attribution and low level of self-esteem. Research implications or Originality - The result is expected to expand the research scope on social exclusion and conspicuous consumption, and provide practical implications for marketers.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.87-99
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• 2021

Purpose - In this study, I attempt to clarify three theories of firm boundaries (vertical integration): the principal-agent theory, transaction cost theory, and property rights theory. Although these theories have been widely cited and much discussed, it has been found that understanding the commonalities and distinctions of these seemingly familiar theories is difficult. Design/methodology/approach - I present the three theories about the decisions that firms make concerning their boundaries. Then, I compare elemental versions of the theories of the firm. Findings - Comparing the ingredients of the elemental property rights and principal-agent theories shows that they provide a unified account of the costs and benefits of vertical integration. However, the property rights theory in no sense formalizes the transaction cost theory. Research implications or Originality - Clarifying the three theories of the firm can help to construct empirical models and interpret its results.

• Asia-Pacific Journal of Business
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• v.12 no.2
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• pp.81-95
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• 2021

Purpose - The purpose of this paper is to examine the impact of holding period of IPOs on BHAR(CAR) of IPOs in IPO process, especially focused on business relationship of underwriters and institutional investors. Design/methodology/approach - This paper collected monthly IPO fund data in KOSDAQ during 2004 to 2012 and OLS(Ordinary Least Square) was hired to analyze the data. Findings - Underwriters do allocate IPOs with high BHAR(CAR) to business-related institutional investors holding IPOs longer to make the price of IPOs stable (market-making) for underewriters. Research implications or Originality - This paper finds the impact of holding period of IPOs on BHAR(CAR) of IPOs in IPO process, especially focused on business relationship of underwriters and institutional investors in Korea.

• Asia-Pacific Journal of Business
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• v.12 no.4
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• pp.53-61
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• 2021

Purpose - The purpose of this paper is to assess the empirical evidence that shows blockchain technology has been a significant contributor to the growth of maritime transport in the shipping industry. Design/methodology/approach - Employing a generalized linear model using data from 2010 to 2019, this paper presents empirical evidence to demonstrate the positive impact of the adoption of blockchain technology on the maritime transport industry. Findings - Results from Granger causality tests confirm that there is a positive unidirectional causality from blockchain technology to maritime transport. This paper also demonstrates the positive effects of information technology (IT) and GDP growth on maritime transport. On the other hand, maritime transport is negatively influenced by the tax burden. Research implications or Originality - The results of this paper suggest a potential sustainable development strategy for the maritime transport industry involving the redirection of economic resources toward blockchain technology. Adopting other forms of IT and reducing the tax burden are also useful strategies for the development of the industry.

• Journal of Korea Trade
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• v.26 no.3
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• pp.102-116
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• 2022

Purpose - This paper empirically investigates the relationship between firm productivity and importing intermediate inputs in the Korean manufacturing sector. Design/methodology - This paper tests the two related hypotheses on the relationship between importing and productivity for a sample of Korean manufacturing firms. We test the self-selection hypothesis by comparing pre-entry levels of productivity between importers and non-importers. We test the learning-by-importing hypothesis by employing propensity score matching with differencein-differences approach. Findings - Future importers are more productive than future non-importers years before they start to import, which supports the self-selection hypothesis. In contrast, there is no strong evidence for learning-by-importing. Originality/value - This paper is the first study to explore the relationship between importing and firm-level productivity for Korean firms. The results have an important implication on trade policies to lower or raise trade barriers in imported inputs.

• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.1-10
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• 2022

Purpose - Despite the emergence of such destination regeneration as a key factor in urban tourism, little research was carried out on destination regeneration, especially on the impact of destination regeneration on revisit intention. The purpose of this study is to investigate the relationship between destination regeneration and revisit intention with moderating role of the destination image. Design/Methodology/Approach - Data were collected from tourists who visited the destination, after which a total of 250 usable surveys were analyzed. In order to examine the data, we used frequency analysis, exploratory factor analysis, regression analysis by using SPSS 25.0. Findings - Based on the results, first, there is a positive relationship between destination regeneration and revisit intention. In addition, there are significant moderating effects of destination image between destination regeneration and revisit intention. Research Implications or Originality - Those significant findings could contribute to destination development from destination regeneration and revisit intention.

• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.123-134
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• 2022

Purpose - The purpose of this study is to investigate the effects of entrepreneurial motivation, self-efficacy, and entrepreneurial orientation on the performance of Mongolian entrepreneurs. Design/methodology/approach This study collected data from a survey on 236 entrepreneurs in Mongolia and investigate research hypotheses by empirical analysis. Findings It was found that entrepreneurial motivation (independence, opportunity-driven, achievement motivation) had a positive effect on the startups' performances, and necessity-driven motivation did not have a significant effect on the startups' performances. Entrepreneurial self-efficacy and entrepreneurial orientation had a positive effect on performance of startups. There are differences by gender on the relationships between entrepreneurial motivations and startup performances. Research implications or Originality This paper investigates the effects of entrepreneurial motivation, self-efficacy, and entrepreneurial orientation on the performance of startups in Mongolian.