• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.4
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• pp.39-45
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• 2022

Purpose - This short paper reviews the debate dealing with the relationship between strategy and traditional strategy approach on the one hand, and business models and new business model approach on the other hand and tries to offer useful direction to be more helpful to theoretical discussions. Research design, data, and methodology - This paper makes a theoretical analysis to explain the confusion surrounding the debate, reviewing mainly literature survey papers and finds theoretical conjecture and its limitations in order to present useful direction to the future theoretical work. Result - In order to comprise its diversity, business model studies should consider the characteristics of each firm, sector, and market. Adding further elements which are related to each sector or market, theoretical studies can capture the diverse phenomena related to business model and business model innovation. Conclusion - The traditional strategy perspective can be utilized to the Business model phenomenon in the case of incumbent firms and non-digital sector and existing markets. Meanwhile the new business model perspective can be utilized to business model phenomena in case of start-ups and digital sector and emerging markets. Reconciling two perspectives, the studies dealing with the business model should focus on the characteristics of firms, markets, and knowledge from the perspective of business model innovation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.135-142
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• 2021

This study aims to examine the impact of audit committee characteristics on income management of companies listed on the Stock Exchange of Vietnam. Research data was collected from all 745 listed companies on Vietnam's stock market over four years, from 2015 to 2018. After excluding companies that did not qualify, there were 216 companies with 864 observations. With the help of dedicated software Stata 15, the impact of audit committee characteristics (through independent variables and control variables such as Audit Committee Independence, Auditing Committee size, Auditing Committee Expertise, Auditing Committee Meeting Frequency, Company Size, Financial Leverage, and Operating Cash Flow) to earning management through a multivariate regression model was determined. Research results from Vietnamese listed companies during this period show that the size and expertise of the audit committee are inversely related to the discretionary accruals representing earning management. At the same time, the research results also identify a positive relationship between firm size and earning management, and the inverse relationship between financial leverage, net cash flow from operating operations and earning management. However, the multivariate regression results do not find clear evidence of a relationship between audit committee independence and the audit committee meeting frequency to earning management.

• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.77-86
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• 2019

The purpose of this study is to examine how the characteristics of family firms affect stock price crash risk. Prior studies argued that the opacity of information due to agency problem causes a plunge in stock prices. The governance characteristics of family firms can increase information opacity which leads to crash risk. Therefore, this study verifies whether family firms have a high possibility of stock price crash risk. We use a logistic regression model to test the relationship between family firms and stock price crash risk using listed firms listed on the Korean Stock Exchange during the fiscal years 2011 through 2017. The family firm is defined as the case where the controlling shareholder is the chief executive officer or the registered executive. If the controlling shareholder's share is less than 5%, it is not considered a family business. We found that family firms are more likely to experience a plunge in stock prices. This supports the hypothesis of this study that passive information disclosure behavior and information opacity of family firms increase stock price crash risk.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.219-228
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• 2022

High-profile corporate crises have sparked a surge in interest in corporate governance (CG) and corporate reputation (CR). Company governance issues in many companies contribute to corporate failures and a bad reputation. Transparency is the glue that holds any group or organization together while also connecting it to a coalition of key stakeholders. This research focuses on how corporate governance factors (such as board independence, board size, board meetings, and board gender) and company characteristics affect the reputation of Malaysian public listed companies (PLCs). Many studies have looked into the characteristics of corporate governance in Malaysian businesses. However, none of the research has explored this issue using the new reputation measurement. A sample of the 100 largest companies listed on Bursa Malaysia based on their market capitalization for the year ended 2018 was selected. A new measurement, the disclosure index, was created and used to analyze reputation disclosure in the annual report of a corporation. The independent director, board size, and board meeting were statistically significant and associated with the level of reputation disclosure, according to the findings of this study. The results suggest that company directors prioritize good governance and management quality to boost their firm's reputation and acquire a competitive edge.

• The Research Journal of the Costume Culture
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• v.19 no.3
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• pp.556-564
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• 2011

The purpose of this study was to analyze the effect of the structural properties, the color characteristics and the texture of sight and touch on the tactile preferences for the black fabrics. Male and female university students were asked to evaluate the texture of sight and touch and tactile preference to the nine different black fabrics which were selected on the basis of the previous research results. Data were analyzed by using frequency analysis, mean, factor analysis, t-test, F-test, correlation and regression analysis. The texture of sight and touch for black fabrics was classified into four factors: smoothness, bulkiness, extensibility, firmness. This texture of sight and touch factors showed a significant correlative relationship to the structural properties and color characteristics of the black fabrics. There were significant differences according to black fabrics on the point of texture of sight and touch. The velvet was evaluated the most smooth fabric, while the velvet and fake leather were evaluated the most bulky fabrics. Also, the jersey and lace fabrics were evaluated the most extensible fabrics, while the melton was evaluated as the most firm fabrics. There were significant correlative relationships not only between the structural properties and the texture of sight and touch but also between the color characteristics and the texture for black fabrics. Also, among the structural properties, the color characteristics and the texture of sight and touch of black fabrics, major variable factor of influencing on the tactile preference was turned out to be the texture of sight and touch.

• The Journal of Industrial Distribution & Business
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• v.11 no.6
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• pp.41-53
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• 2020

Purpose: The purpose of this study is to review the previous studies on the characteristics of the image search service provided by using artificial intelligence, the social impact characteristics, and the moderating effect of perceived anthropomorphism, and conduct empirical analysis to identify the constituent factors affecting purchase intention. To clarify. Through this, I tried to present theoretical and practical implications. Research design, data, and methodology: Research design was that characteristics of image search service (ubiquity and information quality) and social impact characteristics (subjective norms, electronic word of mouth marketing) are affected by mediation of satisfaction and flow, therefore, control of perceived anthropomorphism have an effect on purchase intention to increase. For analysis, research conducted literature review, and developed questionnaires, so that EM firm which is a specialized research institute has collected data. This was conducted on 410 people between the 20s and 50s who have mobile shopping experiences. SPSS Statistics 23 and AMOS 23 had been used to perform necessary analysis such as exploratory factor analysis, reliability analysis, feasibility analysis, and structural equation modeling based on this data. Results: first, ubiquity, information quality and subjective norms were found to have a positive effect on purchase intention through satisfaction and flow parameters. Second, satisfaction and flow were found to have a mediating effect between ubiquity, information quality, and subjective norms and purchase intentions. However, there was no mediating effect between eWOM information and purchase intention. Third, perceived anthropomorphism was found to have a moderating effect between information quality and satisfaction, and it was found that there was no moderating effect on the relationship between information quality and flow. Conclusions: The information quality of image search services using artificial intelligence has a positive effect on satisfaction, and it has been found that there is a positive moderate effect of perceived anthropomorphism in this relationship, which may be an academic contribution to the distribution science utilizing artificial intelligence. Therefore, it is possible to propose a distribution strategy that improves purchase intention by utilizing image search service and anthropomorphism in practical business and providing a more enjoyable immersive experience to customers.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.41-79
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• 2007

This study examines the expiration-day effects of stock index futures and options in the Korean stock market. The so-called 'expiration-day effects', which are the abnormal stock price movements on derivatives expiration days, arise mainly from cash settlement. Index arbitragers have to bear the risk of their positions unless they liquidate their index stocks on the expiration day. If many arbitragers execute large buy or sell orders on the expiration day, abnormal trading volumes are likely to be observed. If a lot of arbitragers unwind positions in the same direction, temporary trading imbalances induce abnormal stock market volatility. By contrast, if some information arrives at market, the abnormal trading activity must be considered a normal process of price discovery. Stoll and Whaley(1987) investigated the aggregate price and volume effects of the S&P 500 index on the expiration day. In a related study, Stoll and Whaley(1990) found a similarity between the price behavior of stocks that are subject to program trading and of the stocks that are not. Thus far, there have been few studies about the expiration-day effects in the Korean stock market. While previous Korean studies use the KOSPI 200 index data, we analyze the price and trading volume behavior of individual stocks as well as the index. Analyzing individual stocks is important for two reasons. First, stock index is a market average. Consequently, it cannot reflect the behavior of many individual stocks. For example, if the expiration-day effects are mainly related to a specific group, it cannot be said that the expiration of derivatives itself destabilizes the stock market. Analyzing individual stocks enables us to investigate the scope of the expiration-day effects. Second, we can find the relationship between the firm characteristics and the expiration-day effects. For example, if the expiration-day effects exist in large stocks not belonging to the KOSPI 200 index, program trading may not be related to the expiration-day effects. The examination of individual stocks has led us to the cause of the expiration-day effects. Using the intraday data during the period May 3, 1996 through December 30, 2003, we first examine the price and volume effects of the KOSPI 200 and NON-KOSPI 200 index following the Stoll and Whaley(1987) methodology. We calculate the NON-KOSPI 200 index by using the returns and market capitalization of the KOSPI and KOSPI 200 index. In individual stocks, we divide KOSPI 200 stocks by size into three groups and match NON-KOSPI 200 stocks with KOSPI 200 stocks having the closest firm characteristics. We compare KOSPI 200 stocks with NON-KOSPI 200 stocks. To test whether the expiration-day effects are related to order imbalances or new information, we check price reversals on the next day. Finally, we perform a cross-sectional regression analysis to elaborate on the impact of the firm characteristics on price reversals. The main results seem to support the expiration-day effects, especially on stock index futures expiration days. The price behavior of stocks that are subject to program trading is shown to have price effects, abnormal return volatility, and large volumes during the last half hour of trading on the expiration day. Return reversals are also found in the KOSPI 200 index and stocks. However, there is no evidence of abnormal trading volume, or price reversals in the NON-KOSPI 200 index and stocks. The expiration-day effects are proportional to the size of stocks and the nearness to the settlement time. Since program trading is often said to be concentrated in high capitalization stocks, these results imply that the expiration-day effects seem to be associated with program trading and the settlement price determination procedure. In summary, the expiration-day effects in the Korean stock market do not exist in all stocks, but in large capitalization stocks belonging to the KOSPI 200 index. Additionally, the expiration-day effects in the Korean stock market are generally due, not to information, but to trading imbalances.

• The Journal of Information Systems
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• v.5
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• pp.383-409
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• 1996

This study has two research objectives related to end-user computing (EUC). One of the research objectives was to investigate the current status of EUC of Korean firms. Another research objective was to examine the relationship between individual differences of end-users and EUC success. Using survey data from 752 end-users of 23 firms, the current status of EUC and the relationship between individual differences of end-users and EUC success were investigated. The current status of EUC was examined from six perspectives : 1) what is the characteristics of EUC strategy of Korean firms, 2) what are the individual characteristics of end-users in Korean firms 3) what are the characteristics of tasks performed by end-users computer, 4) what are the application areas of EUC, 5) How end-users are satisfied with the support of firm, 6) what are system usage and satisfaction of end-users. It was also found that individual differences of end-users are related to EUC success. More specifically, it was shown that the male gender, younger age, higher level of education, higher rank and organizational tenure, higher math ability, thinking type of cognitive style, positive and optimistic attitudes toward computer, more experience with computer, more computer education and knowledge are individual differences variables associated with EUC success. The results of stepwise regression analysis suggested that the individual difference variables accounted for 14%, 25%, 39%, and 30% of the variances of four EUC success variables, satisfaction for outcome, satisfaction for ability, frequency of computer use, and the number of tasks, respectively. Theses empirical findings suggest that EUC managers should consider individual differences of end-users in managing EUC, such as education, training support, and human resource management, to maximize potential benefits of EUC.

• Korean Institute of Interior Design Journal
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• v.26 no.2
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• pp.101-109
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• 2017

The food and beverage spaces of modern industrial society have transformed from a simple space for meals into a space of culture, communication and experience as society becomes more complex and diverse along side economic growth. An interior designer who is rapidly rising on this flow of change is Yukio Hashimoto. While working for interior design firm Super Potato, which highlights food and beverage spaces, he was much affected by the expression methods of representative designer Takashi Sugimoto, who makes use of natural elements. By using these expression methods that make use of natural elements in his own creation of spatial ambience and elements of experience and by adding his own differentiated expression methods, he emphasizes an effective spatial expression for food and beverage spaces. The design characteristics of Yukio Hashimoto's food and beverage spaces are as follows. First natural elements like light and water are recreated as memories of nature after being established through a methodology that allows these elements to penetrate his own thoughts. Second, he pursues a hybrid design through the harmony between past tradition and current expressive techniques. Third, he expresses objets of light through a formative sense of shape expressed with light.. Fourth, he establishes an axis in the interior space by light and structure and endows a strong directionality that induces symmetric characteristics, gaze, and movement.. Fifth, he installs lights at the bottom of weighty materials and expresses a sense of floating by light. Sixth, he uses an illusion technique that makes use of the ambiguity and depth of space resulting from reflecting materials like mirrors. The study hopes that such design expression characteristics of food and beverage spaces can be used as data for interior designers to apply and develop a new design vocabulary.

• Asian-Australasian Journal of Animal Sciences
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• v.21 no.10
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• pp.1529-1534
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• 2008

The aim of this study was directed at exploring the possible use of muscle fiber characteristics as new selection traits for improving both porcine lean meat production and quality. A total of 174 (114 Yorkshire, 30 Landrace, and 30 Meishan) pigs were used for this study, and lean meat production ability was estimated by backfat thickness and loin eye area. The Longissimus dorsi muscle was taken in order to measure meat quality and muscle fiber characteristics. Due to the high correlations between total muscle fiber number and most of the performance traits, all pigs were classified into three groups (low, intermediate, or high) by total muscle fiber number using cluster analysis. The high group had the highest loin eye area (p<0.001). The meat quality traits were within normal ranges as reddish pink, firm, and nonexudative (RFN) pork, but the groups classified as intermediate and high had relatively large drip loss percentages (p<0.05), produced more than twice the amount of pale, soft, and exudative (PSE) pork as compared to the low group. The group with a high total muscle fiber number was further classified, based on type 2b fiber percentage, into low or high groups by cluster analysis. The results showed that the low type 2b fiber group had good loin eye area (p<0.05), small drip loss (p<0.05), and did not produce PSE pork. For these reasons, a high total muscle fiber number, with a low percentage of type 2b fibers, may be suitable in selecting for improvements in both lean meat production and meat quality.