• Management & Information Systems Review
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• v.36 no.4
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• pp.21-32
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• 2017

Motivated by the recent cases of negligent social responsibility as manifested by foreign luxury fashion brands in Korea, this study investigates whether agency costs depend on the sustainability of different types of corporate governance. Agency costs refer either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. The firms with luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the firms may hold down wasteful spending to report a gaudily financial achievement. This results in mitigation of the agency cost. Agency costs are measured by the value of the principal component. First, three ratios are constructed: asset turnover, operating expense to sales, and earnings before interest, tax, and depreciation. Then, the scores of each of these ratios for individual firms in the sample are differenced from the ratios for the benchmark firm of S-OIL. S-OIL was designated as the best superior governance model firm for 2013 by CGS. We perform regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The regression results indicate that the agency costs of the firms with luxury fashion brand exceed those of control group in the fashion industry in the part of operating expenses, but the agency cost falls short of those of control group in the part of EBITD, thus the aggregate agency costs are not differential of those of the control group. In sensitivity test, the results are same that the agency cost of the firms are higher than those of the matching control group with PSM(propensity matching method). These results are corroborated by an additional analysis comparing the group of the companies with the best brands with the control group. The results raise doubts about the effectiveness of management of the firms with luxury fashion brand. This study has a limitation that the research has performed only for 2013 and this paper suggests that there is room for improvement in the current research methodology.

• Journal of the Korean Society of Clothing and Textiles
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• v.40 no.1
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• pp.26-40
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• 2016

The importance of Corporate Social Responsibility (CSR) implementation is increasing and CSR activity has become a core activity for firms. The increase on CSR activity expenditures also increases the need for strategic. When firms implement CSR strategically, firms need to consider consumers' perspectives toward CSR. This research investigated how Korean fashion companies integrate consumers' CSR expectations into CSR implementation. Through a qualitative study, we researched a firm's consideration of consumers which are reflected in detailed procedures of CSR implementation. We conducted in-depth interviews with executives and managers in charge of CSR and found the following results. First, motivations for CSR implementation were both strategic and moral along with consumers who play a crucial role in CSR motivation. Second, firms conducted various strategic CSR activities differentiating themselves using a specific resource. Third, self-CSR evaluation was not active and structured. Few companies were collecting consumer responses to CSR activities. Last, executives and managers have difficulties to perform CSR activities due to gaps between ethical consumption consciousness and the ethical consumption behavior, measurement of CSR effect, and lack of understanding of strategic CSR. The results of our study show that firm's consideration of consumers is insufficient despite executives and managers who strongly agree with the need for strategic CSR.

• Science of Emotion and Sensibility
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• v.25 no.3
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• pp.91-106
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• 2022

This study targets four Soho fashion shopping malls that are operating successfully in the online fashion market. This study analyzed the entrepreneurship process by dividing it into three stages. The results of the case study are as follows. In the case of Company S, the founder, who had little work experience, started an e-commerce business with a sense of fashion and entrepreneurship. It is a contemporary, casual brand with competitive prices, design power, and diverse product assortment, and the business performance was achieved through data management and analysis and the diversification of distribution channels. In the case of Company B, the founder, who had little work experience, started a manufacturing and e-commerce business by leveraging their SNS network capabilities and entrepreneurial spirit. It is a contemporary fashion brand with product competitiveness of specific items and start-up characteristics, and performance was achieved through the establishment of brand identity and market expansion. Third, Company M and Company C are examples of Soho fashion shopping malls where the founders with more extensive work experience at the time of founding their respective start-ups focused on brand recognition as their core competitiveness. In the case of Company M, the apparel brand was launched with a wealth of experience and design spirit. It is a fashion designer brand that stands out for its sensibility, and the owner has achieved performance through various entrepreneurial activities that broaden the corporate horizon. Company C is a manufacturing and e-commerce brand that was started with design capabilities and an entrepreneurial spirit. It is a luxury fashion brand that focuses on emotional expression, and the outcomes, such as brand recognition and sales, were achieved through active customer management. The results of this study can be used as basic data in education for and research of Soho shopping malls and the prospective founders.

• Journal of Information Technology Services
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• v.19 no.1
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• pp.89-102
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• 2020

With the technology of the 4th Industrial Revolution integrated into the industry as a whole, digital transformation (DT) is becoming an innovative and essential element of corporate survival in the fashion industry, and it is expected that the paradigm shift in shopping will become an unavoidable reality, especially based on the AR. Therefore, in this study, the characteristics of augmented reality were presented separately as perceived realism, interaction, pleasure, and usability, and the influence of augmented reality by immersion parameters on the user's satisfaction and intended to reveal the relationship between satisfaction and usage through the characteristics of augmented reality. For the purpose of this study, a structured questionnaire was conducted, and the available 209 responses were collected and used for empirical analysis. The results of the empirical analysis are as follows. First, while immersion has the greatest effect on satisfaction, the effect on use intention has a stronger effect on satisfaction than immersion. This indicates that purchase occurs when the user's immersion leads to satisfaction, and when the satisfaction falls, the intention to use is also lowered. Second, interactivity, enjoyment, and ease of use among the various characteristics of fashion applications have a positive effect on immersion. Among them, ease of use had a strong effect on immersion. In light of this, it can be seen that ease of use should be considered first when creating an application based on augmented reality in the future fashion industry. However, the perceived reality is low in the degree of immersion, and the effect on satisfaction is also lowered, so it is difficult to be connected to intention. Considering that this study was conducted through indirect experience through video viewing, this study expects the development of research through a more practical research model in the future, as the impact is considered to be a relatively low measurement.

• Journal of the Korean Society of Clothing and Textiles
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• v.41 no.5
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• pp.809-824
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• 2017

Interest in and use of social media as a communication channel are consistently evolving; in addition therefore, corporate social responsibility (CSR) activities have been often conducted on online channels such as social media due to the advantages offered by the rapid spread of information. Consumers can be persuaded differently and their cognition can be influenced depending on who delivers what message. This study examines the influence of information source characteristics on eWOM acceptance of CSR messages and attitudes toward a company. This study compares cases: when a company sends their CSR message versus when an individual (i.e., consumer's acquaintance) sends the company's CSR message. A total of 320 respondents were presented with online stimuli and responded to the questionnaire to identify this phenomenon. Vegan fashion (which refers to products made from raw materials without animal cruelty) was used as stimuli in this study because it is a representative example of CSR activities. As a result, when consumers are exposed to CSR messages online, perceived expertise, trustworthiness and attractiveness of information source affect consumer's electronic word-of-mouth (eWOM) acceptance and attitude toward a company. However, only trustworthiness influences eWOM acceptance in cases of a corporation information source. This study confirms the differences in eWOM acceptance and in attitudes to the company depending on to whom the messages were sent and with what content.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.2
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• pp.551-564
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• 2020

The fashion industry in Korea has grown into a core sector that contributes to the development of national industries, but it has shown negative growth due to the advent of a low-growth era. This study aims to explore core texts related to variable factors affecting the apparel industry in Korea (and the environmental change factors of apparel companies) by using network analysis from a diachronic point of view. In addition, we discuss the implications of enhancing the value of fashion industries in Korea based on articles in fashion newspapers over five years. The conclusion of this study is as follows. First, as a suggestion for political and economic aspects, the government should minimize the damage caused by political influence by presenting new policies, or by communicating about the practical aspects of geopolitical issues and changes linked to the fashion industry. Second, as a suggestion of socio-cultural aspects, it is necessary to reduce uncertainty about the future by establishing a strategic system through cooperation with institutions that can predict future directions. Third, as a suggestion for management changes in the apparel industry, apparel companies in Korea should recognize the importance of consciousness of promoting development for a better society from coexistence, rather than corporate profit.

• Journal of the Korean Society of Clothing and Textiles
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• v.34 no.2
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• pp.371-384
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• 2010

This research investigates the historical changes of the educational system for the clothing departments at vocational high schools. According to the growth of the fashion industry, employment potential in the clothing departments of the vocational high schools, numerical changes in the educational statistics, and curriculums were investigated by papers, reports, and statistic data. The statistic data were derived from the 'Center Educational Statistics and Information', 'School Information' (Hak-gyo Alimi), 'Korean Statistical Information Services' and internet home pages of vocational high schools. Technical service workers that graduate from clothing departments and vocational high schools have limited competitiveness in a thriving fashion industry field. Highly developed fashion industries require more professional workers in fashion design, fashion marketing, and fashion materials. Compared to 1994, when 35 classes were conducted in 5 vocational high schools, 69 classes are now conducted at 15 schools. They have over 2,000 students and produce over 600 graduates. However, 222 credits of the $1^{st}$ curriculum in 1958 went down to 82 credits in the 2007 revised curriculum to complete the credits of clothing departments. The 15 courses of the 1st curriculum fell to 5 courses in the 2007 revised curriculum on the number of major subjects. It is a fundamental problem that major courses in clothing education have been excessively reduced despite the demand for of highly specialized workers in the fashion industry. In the view of operating conditions of those schools, there were several problems such as the wide gaps in the curriculum, limited equipment, the supply of teachers, and counseling on the choice of college or a career. In conclusion, the following measures are required: 1) the increase of complement credits in major subjects and renovation of curriculum, 2) national substantial support to change the social circumstance concerning vocational education and occupational consciousness, 3) operation of credit approving systems in universities and colleges for students that have completed the same courses at vocational high schools, 4) designing realistic programs for vocational education and cooperation systems with corporate enterprises.

• Journal of the Korean Society of Clothing and Textiles
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• v.33 no.4
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• pp.519-530
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• 2009

The purpose of this study is to investigate the effects of the prior knowledge, the market position and negative information of the alliance apparel product on consumer attitude including preference, purchase intent and utility. Smart wear with MP3 was selected for the alliance apparel product. Negative information was manipulated into two types-product related and brand related negative information. 251 subjects participated for the study. For the data analysis, reliability test and three way analysis of variance were conducted. The results showed that when the partner brand has the higher market position, subjects with high prior knowledge revealed preference for the alliance apparel product more. When the partner brand has the higher market position, the subjects who were given the negative information on the alliance apparel product reported preference and utility more than the ones who were given the negative information on the company. The findings of the study imply that apparel industries should make an effort to establish the positive corporate image as well as to produce high quality apparel product. Also marketers should provide consumers with the knowledge about brand new alliance apparel product.

• The Research Journal of the Costume Culture
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• v.23 no.4
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• pp.537-553
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• 2015

Recently, some fashion retailers have initiated sustainable actions in the form of corporate social responsibility (CSR) activities to address consumers' social concerns. This study intends to combine the concept of CSR motivation attributions with brand extension literature in order to examine how consumers' trust of a parent brand affects their CSR motivation attributions and ultimately their attitudes towards parent-brand CSR activities and sustainable extension lines. A self-administered online survey was conducted using scenarios describing a fast fashion retailer introducing a sustainable line. Data from 303 female U.S. consumers, aged between 18 and 34 years, were used for the statistical analysis. Data analyses were conducted using SPSS 21.0 for descriptive analysis, exploratory factor analysis, and regression analysis. The results revealed that all hypotheses were supported. The findings show that consumers' trust of a parent brand has an indirect impact on positive attitudes towards the parent brand's CSR activities as well as the sustainable extension product line, mediating positive evaluations of the brand's social CSR motivations. In addition, this study suggests consumers' prior trust of the parent brand is a variable that affects consumers' evaluation of CSR motivation sincerity. Marketing suggestions and thoughts based on the findings of this study were provided.

• Fashion & Textile Research Journal
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• v.24 no.6
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• pp.719-730
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• 2022

This study explored the impact of beauty influencers' characteristics and product characteristics on new product acceptance intentions and studied the mediating effects of consumer trust in this process. A survey was conducted from February 22, 2021, to February 28, 2021, with Gen Y and Gen Z women in China, and 379 questionnaires were analyzed. The conclusions are as follows: First, the characteristics of beauty influencers are authenticity and expertise, similarity, attractiveness, interactivity, familiarity, and trustworthiness; product characteristics are cost, image, product quality, product perception, sales promotion, and sustainability. Second, partial beauty influencers' characteristics and partial product characteristics have a positive impact on consumer confidence and acceptance intention of the new product. Third, the mediating effect of consumer trust in the process by which beauty influencers' characteristics and product characteristics influence the intention of new product acceptance was determined. Therefore, when beauty companies use influencers in marketing, it is necessary to understand their characteristics, consider their professionality and authenticity, examine their reliability, and assess their ability to form connections with images and viewers that match their products. Additionally, to increase the acceptance intention of new products, companies should present the price of high-quality products, product sensibilities, and corporate images of products and establish measures that can positively affect consumers' acceptance intention of new products by combining them with the characteristics of beauty influencers.