• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.85-97
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• 2018

This paper investigates factors underlying a decrease in trading values in KOSPI 200 futures/options market on the basis of the current state of the markets. Among the factors that could affect trading values in KOSPI 200 derivatives market, we focus on the market activity of underlying assets as it has an impact on the trading of financial derivatives. Trading value and volatility are designated as market activity and the empirical results confirm that the market activity of the underlying assets is significant in explaining the decrease in trading values in KOSPI 200 futures/options market. To figure out fundamental reasons of the decrease in trading values in this market, we examine mitigation of home bias and decrease in leverage incentives as they are presumed to have influence on KOSPI 200 index market. As the global and local financial environment is time-varying, the degree of home bias and the leverage demand also changes. It implies that institutional change and/or policy effort to promote the trading of KOSPI 200 financial derivatives should be made taking into account the fact that considerable portion of the change in trading values in financial derivatives market depends on the state of the market.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.40-62
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• 2010

Because of rapid changes in business environment and fierce competition, firms are facing a more competitive environment and a more serious global competition. Many of the previous literatures have indicated that a business which increases its market orientation will improve its market performance. Numerous authors have argued the interdepartmental dynamics as prior factor to market orientation, and relationship commitment are an essential part of successful long-term relationships. Based on previous literatures, this study proposes the structure about interdepartmental dynamics, market orientation, relationship commitment and performance. The purpose of this paper is to find the impact of market orientation and relationship commitment on customer performance. In addition, this suggests interdepartmental dynamics as prior factor to market orientation. Results indicate that interdepartmental connections can reduce interdepartmental conflict, and lower conflict is a key factor of market orientation. Furthermore, this paper finds evidences that support the mediating effects of the relationship commitment between market orientation and customer performance.

• East Asian Economic Review
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• v.25 no.3
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• pp.273-309
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• 2021

The development of regulatory systems varies between transition and non-transition economies. This suggests that they provide different incentives for entrepreneurial development and could have varied effects on the economy because they have different methods to deal with market failure. However, limited empirical evidence exists to prove the assumption of dichotomy. Using comprehensive data for institutional quality, labor market and financial market development, this research sought to analyze their effect on employment growth at micro level. The results show that the quality of institutions in transition economies are poorer relative to those in non-transition economies, but their financial and labor markets are more developed than the latter. Further analysis for the transition sample shows that the three variables are individually positively related with employment growth. For the non-transition sample, institutional quality and labor market flexibility bear a positive and significant effect on employment. Financial market development enters the model with a negative coefficient when regressed alone, but a joint test of significance finds that all the variables have a positive effect on employment growth. This result could imply that there is interdependence between institutional quality, labor flexibility and financial market development in firm-employment-growth relationship, or complementarity between regulations and the quality of institutions. Alternatively, this finding suggests that a stringently regulated credit market in non-transition economies have a selection effect-allocating credit only to entrepreneurs who already demonstrate strong growth potential. In sum, despite differences in the evolution of regulatory environment between the two samples, both of them complement employment growth at firm level. The overall implication of these findings is that less rigid regulations and coherent policies that are enforced with impartiality provide incentives for firms to expand.

• Journal of Distribution Science
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• v.11 no.9
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• pp.31-34
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• 2013

Purpose - This paper aims to explain that the Chinese distribution market will continue to bring tremendous business opportunities to commercial enterprises, given the relatively strong economic fundamentals and substantial government-led measures to boost domestic demand. Research design, data, methodology - A survey was conducted on China's retail market data during 2012. By empirically analyzing the data for retail sales of online markets and franchises, we conclude that the online retail market in China will continue to grow. Results - Based on data from 2012, 2013 is expected to be a challenging year for the retail sector, as both external and internal pressure is likely to persist. This paper outlines some major challenges facing retailers in China. Conclusions - The study shows that retailers in the Chinese market will face some major challenges: 1) the Chinese retail market is considerably affected by an uncertain economic outlook 2) an unfair environment of competition exists and 3) product safety is a serious issue. However, in the future, China's retail market will continue to bring tremendous business opportunities to commercial enterprises, given the relatively strong economic fundamentals and substantial government-led measures to boost domestic demand.

• Asia Marketing Journal
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• v.20 no.2
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• pp.85-98
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• 2018

Korea Ginseng Corporation is a global ginseng company, owning one of the most leading brands in Korea, CheongKwanJang. Although Korea Ginseng Corporation was an undoubted market leader in the red ginseng market, it faced a new challenge in 2012 due to the changes in market environment. In order to keep its market leadership in a saturated and competitive market, the company decided to extend its product lines alongside the launches of new brands. In this article, the authors demonstrate the development process of the company's brand portfolio strategy to reveal how the company turned CheongKwanJang into a mega-brand. Also, this paper explores the impact of CheongKwanJang's reputation on new brands, thereby illustrating how the company successfully managed to introduce new products outside of the red ginseng category, ranging from organic food to a pet food market.

• The Journal of Economics, Marketing and Management
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• v.3 no.2
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• pp.21-28
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• 2015

The purpose of the study was to investigate state and problems of Seongnam Jungang Market that lost competitiveness under rapidly changing logistics environment, and to give market redevelopment model, project validity and operation management plan considering commercial area and location of the market. The public market at the community that has tradition and culture of the residents provides small merchants with employment chance and to let residents buy daily necessities. The market allows farmers to sell agriculture products by themselves and to increase income. Most of public markets that open every five days help residents meet each other to exchange information. Most of public markets have been placed at local towns and rural areas to lose distribution functions remarkably at less population and quick aging.

• The Journal of the Korea Contents Association
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• v.11 no.3
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• pp.351-367
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• 2011

Few previous researches have been studied in terms of franchisees' perceptions of franchisors' entrepreneurial activities within the boundary of restaurant franchising industry settings. The sampling frame for this study included 605 restaurant franchisees in the business-format franchising system in Korea and data were collected from 1 October 2009 to 28 February 2010. This study, from franchisees' views, investigated the relationship among franchisors' entrepreneurship, external environment, organizational structure(mechanistic-organic) and managerial performance, with structural equation modeling(SEM). The research findings were, firstly, external environment positively affected entrepreneurship which positively affected market orientation and managerial performance, and secondly, market orientation made franchisors select organic structure and heighten managerial performance. Also, external environment led franchisors to adopt organic structure and aggravated their managerial performance. The implications of these findings were as follows. Firstly, the more franchiors had initiatives, innovatedness and risk-taking attitudes, the higher they had managerial performances and market orientation. Secondly, franchisors should keep and heighten market share with keeping in mind with customer orientation, competition orientation, harmony between departments, long-term orientation and profitability. Thirdly, continuous and cautious environmental scanning was necessary because external restaurant environment made organizational structure being changed and managerial performance being aggravated.

• Asia pacific journal of information systems
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• v.17 no.2
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• pp.1-28
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• 2007

The success of new product development is a key factor for getting competitive advantages. Marketing research has been investigating marketing capability, manufacturing technical capability, cross-functional integration, market knowledge competence, market orientation, and competitive environment as the key success factors of new product development. Recently, the role of IT infrastructure in enhancing new product advantage is assumed in the literature. However, the empirical studies on the role of IT infrastructure are lacking. The purpose of this study is to empirically exam the impacts of IT infrastructure on new product competitive advantage. In this study, IT infrastructure is conceptualized as the flexibility of IT infrastructure. Based on previous research, a conceptual model is established by incorporating the direct impact of IT infrastructure flexibility and its indirect impact through the key success factors on new product development. To empirically test the research model, data are surveyed from a pair of IS department and Marketing department of 92 consumer goods manufacturers. By employing PLS technique, the measurement reliability and reliability of research variables are tested and the path analysis is conducted to do the hypothesis testing. The path analysis shows that IT infrastructure flexibility has no direct effect on new product advantage, However, the indirect effect of IT infrastructure is found, which is mediated by marketing capability, manufacturing technical capability, cross-functional integration, and market orientation respectively. Hence, The flexible IT infrastructure increases cross-functional integration (H1), market orientation (H3), marketing capability (H5), and manufacturing technical capability (H6). All success factors of new product development excepts for competitive environment have a positive association with new product competitive advantages (from H10 to H14). Finally, the path from IT infrastructure flexibility to cross-functional integration, to market orientation, to market knowledge capability, and to new product advantage is found as the strongest path. These results indicate that the flexible IT infrastructure enhances information sharing with multiple departments and collaboration within a distributed innovation environment. The collaboration among departments positively affects the level of customer and competitor intelligence. The ability to obtain knowledge about customers and competitors makes firms to adapt to a changing environment quickly and to respond to customers' demands adequately. The flexible IT infrastructure also enhances the capability of organization to more rapidly respond to the changes in product design resulting in faster product development and reduced costs. In addition to, it enhances marketing capability by the two-way communications with customers and the analyses of various kinds of customer data. In brief, the finding of this study suggests that the flexible IT infrastructure allows many firms to pursue sustained new product competitive advantages. This study advances research on IT infrastructure in two important aspects. First, by Integrating marketing research and IS research, this study develops a conceptual model on the role of IT infrastructure in enhancing new product advantage. Second, it empirically finds the indirect impacts of IT infrastructure on new product advantage, which confirms the potential for the IS field to contribute to new product development research. The limitations of this study are also discussed to provide research directions for future research.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.15 no.5
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• pp.29-41
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• 2016

V2X environment is the most popular part of the C-ITS based on the high technologies. To evaluate V2X environment technologies, radio communication range and market penetration rate of V2X vehicle are used. This paper studies the V2X environment considering various traffic congestion level, radio communication range and market penetration rate of V2X vehicle using the microscopic simulation (VISSIM) based on proper parameters and algorithm. In conclusion, V2X environment can reduce the congestion in proper traffic volume. However, if traffic volume is almost near the capacity, even V2X environment can't relieve the road condition. Furthermore, increase of the radio communication range does not always mean the decrease of the congestion and even with the small market penetration rate, it can also have an impact on the V2X environment. This result will be the foundation for the V2X environment much better.

• Management & Information Systems Review
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• v.25
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• pp.321-337
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• 2008

The house price rise suddenly is not only Economic stability but economic, mental state of a heavy burden to people. This paper is a house finance environment analyzed in this research about the rise factor of the house price and the result to present the plan to the natural disposition. The financial institute has an influence on the disguised demand extension of the house and The mortgage Lending in commercial Banks with the earnings as the stability high than the industry loaning. A house finance environment changes and will go from economic factor of the variety of the life style, the housing conditional according to the income level, a children education condition, and the population structure many this little. The disposition of the house need changes according to this and will have an influence on the house price. Necessary for a house market environment house policy of the market need which the consistency reflects so that we are suitable and is desired.