• International Journal of Control, Automation, and Systems
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• v.6 no.5
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• pp.627-638
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• 2008

With the shift of the electric power industry from a regulated monopoly structure to a competitive market environment, the focus of the transmission expansion planning has been moving from reliability-driven transmission expansion to market-based transmission expansion. In market-based transmission expansion, however, a growing demand for electricity, an increasing number of transmission bottlenecks, and the falling levels of transmission investment have created the need for an incentive to motivate investors. The expectation of profit serves as a motivational factor for market participants to invest in transmission expansion in a competitive market. To promote investment in transmission expansion, there is an increasing need for a systematic method to examine transmission expansion for investment incentives from multiple perspectives. In this paper, the transmission expansion problem in a competitive market environment is formulated from ISO and investors' perspectives. The proposed method uses parametric analysis to analyze benefits for investors to identify the most profitable location and amount for transmission addition. Numerical results are presented to demonstrate the effectiveness of the proposed method.

• Journal of Distribution Science
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• v.18 no.5
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• pp.99-109
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• 2020

Purpose: This study aims to develop and empirically analyze a research model in order to comprehend the relationship among the service quality of market-wholesaler system, re-transaction intention, and recommendation intention of forwarder. Further, we suggest new six factors reflecting the service quality of market-wholesaler system and highlight market expansion of forwarder as a mechanism in the relationship. Research design, data and methodology: The authors developed the new scales measuring the service quality of market-wholesaler system (i.e. trade price, price fluctuation, payment receipt, settlement period, trade information, and customer service) and conducted a cross-sectional survey for 439 forwarders in a wholesale market. And then we performed a series of path analyses to test hypotheses. The hypotheses are as follows. [H1] The service quality of market-wholesaler system will positively affect forwarders' market expansion, [H2] Forwarders' market expansion will positively affect their re-transaction intention, [H3] Forwarders' market expansion will positively affect their recommendation intention, [H4] Forwarders' re-transaction intention will positively affect their recommendation intention. Results: The results showed that all the six factors for the service quality of market-wholesaler system were positively related to market expansion of forwarders. There was a differential effectiveness in the six factors of the service quality. More specifically, the positive effect of customer service factor was the strongest on market expansion of forwarders. And the respective effects of trade price, price fluctuation, settlement period, trade information factors were followed in order. The positive effect of payment receipt factor was the weakest on market expansion of forwarders. Also, market expansion of forwarders was positively related to their re-transaction intention and recommendation intention. Furthermore, market expansion of forwarders was indirectly related to recommendation intention through re-transaction intention as well. Conclusions: The research findings provide important theoretical and practical implications. This study is the first to attempt to test the perception of forwarders for the service quality of market-wholesaler system by developing and using the new scales. Also, there has been a sharp controversy about the effectiveness of market-wholesaler system. The findings support that market-wholesaler system would be activated by empirically verifying the effectiveness of the service quality on the various outcomes.

• World Technopolis Review
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• v.8 no.1
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• pp.21-42
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• 2019

The purpose of this research was to investigate the factors influencing global expansion/scalability of Kenyan Small and Medium Enterprises (SMEs). Factor analysis and multiple/multivariate regression analysis to determine the functional relationship between independent variables (factors) and the dependent variable was used. The independent variables were: innovation & technology, fitness/appropriateness of management, global marketing strategy; and support environment and the dependent variable, global expansion/scalability. Data was collected from a survey of randomly selected firms of 205, drawn from a population of 440 firms from Kenya Manufacturers Directory, with 175 firms responding. The key findings from the research in relation to Kenyan SMEs were that: there is a functional relationship between global market strategy and global expansion; there is a functional relationship between innovation and technology orientation and global expansion, there is no significant functional relationship between supportive environment of firms and their global expansion; and there is no significant functional relationship between fitness/appropriateness of management and global expansion/scalability. The implications for practice is that the ranking of the factors in order of priority supports focusing concern on the orientation of business strategy toward global market strategy, market research geared at obtaining foreign market intelligence, innovation and technology, product adaptation, service orientation, collaborative ventures, and long-range vision as key factors in making Kenyan firms successful in the international market. The implication for policy and practice is that there is need for collaboration between industry and government in pursuing policies for global expansion/scalability and among SMEs and large enterprises particularly in areas of rapid technological change.

• Journal of Electrical Engineering and Technology
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• v.10 no.4
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• pp.1460-1470
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• 2015

This paper presents an approach to solve the long-term generation expansion planning problem of the restructured electricity industry using an agent-based environment. The proposed model simulates the generation investment decisions taken by a particular agent (i.e. a generating company) in a market environment taking into account its competitors’ strategic investment. The investment decision of a particular company is modeled taking into account that such company has imperfect foresight on the future system development hence electricity prices. The delay in the construction of new plants is also explicitly modeled, in order to compute accurately the yearly revenues of each agent. On top of a conventional energy market, several capacity incentive mechanisms including capacity payment and capacity market are simulated, so as to assess their impact on the investment promotion for generation expansion. Results provide insight on the investment cycles as well as dynamic system behavior of long-term generation expansion planning in a competitive electricity industry.

• Korea Trade Review
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• v.45 no.5
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• pp.303-324
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• 2020

The objective of this study is to verify the effect of the market orientation, CEO capacity, and environmental characteristics of overseas markets on the performance of overseas expansion among the success factors of domestic overseas expansion companies. For this purpose, employees of domestic overseas companies based in the Seoul metropolitan area were surveyed, and the hypothesis test was conducted. As a result of the verification, among the contributors to overseas advancement of domestic overseas companies, the factors of CEO capacity, overseas business_education ability, market environment and market size have a significant positive effect on the financial performance of overseas expansion. However, market-oriented factors were found to have no significant effect on the financial performance of overseas expansion. Among the contributors to overseas advancement of domestic overseas companies, the market-oriented factor, the customer-oriented factor, has a significant positive effect on the non-financial performance of overseas expansion. However, factors in CEO competency and environmental characteristics in overseas markets do not have a significant positive effect on the non-financial performance of overseas expansion.

• Journal of Electrical Engineering and Technology
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• v.7 no.4
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• pp.468-479
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• 2012

In this paper, by a simple example it is shown that existing market-based criteria alone cannot completely and correctly evaluate the transmission network expansion from market view. However criteria congestion cost (CC) and social welfare (SW) together are able to correctly evaluate transmission network from market view and so they are adopted for the market-based transmission expansion planning. To simply indicate the limits of CC and SW social welfare percentage (SWP) and congestion cost percentage (CCP) are defined. To consider uncertainty in bids of market producers and consumers, and also indeterminacy in the acceptable boundaries of the SWP and CCP and their priorities, fuzzy assessment approach is used. In this approach, appropriate fuzzy sets and a fuzzy rule base are provided to evaluate the acceptability of an expansion plan. Then, the least-investment cost plan, which is acceptable in all probable scenarios, is searched. The proposed method is applied to an 8-bus system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.19-24
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• 2012

This study clearly defined the idea of convergence of small and medium companies and convergence types and understood convergence case of small and medium companies for each type in order to help enhancement of competitiveness of small and medium companies. The convergence type of small and medium companies accepted two levels including technology and industry and value improvement and creation suggested by Deloitte(2009) and it was classified into technology improvement-market expansion type, technology improvement-market creation type, technology creation-market expansion type, and technology creation-market creation type based on the companies introduced in the excellent casebook of convergence and integration technology development business of small and medium companies(August 2011). As a result, it was shown as 5 cases of technology improvement-market expansion, 4 cases of technology improvement-market creation, 3 cases of technology creation-market expansion, and 1 case of technology creation-market creation among the total 13 cases. Therefore, small and medium companies are focusing on technology improvement than technology creation and market expansion than market creation. What we can understand through cases analysis on convergence types of small and medium company is that it is very difficult for small and medium companies to create new technology or new market through convergence. Thus, small and medium companies consider market expansion through technology improvement as the objective and result of convergence. It is important to create new technology or new industry to cultivate new growth engines of the nation, but policy support that cares about reality of small and medium companies must be considered at the same time.

• Journal of Digital Convergence
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• v.7 no.1
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• pp.49-56
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• 2009

This paper provides in-depth analysis of internal and external factors that are important to food retailers' international market expansion, presenting Carrefour as a case. Nine sources of risks inherent in international retail market operation are explored and examined which are critical for Carrefour's international expansion. Key financial ratios of Du Pont System are used to assess Carrefour's performance in local market and relative to competitors. Carrefour's competitive advantages are also explored and compared with Wal-Mart, its major competitor in the international expansion.

• The Journal of Fisheries Business Administration
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• v.54 no.4
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• pp.19-45
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• 2023

This study explores strategies to expand Korea's top 10 seafood export in the oversea market, with a specific focus on the impact of export concentration. For certain seafood items such as laver, crab, and mackerel, characterized by low export concentration, adopting a focused export expansion strategy is more effective. Conversely, highly concentrated seafood items such as toothfish, cod, pollack, and abalone face high risks in export performance due to their heavy reliance on a small number of key export countries. To ensure export stability, it is advisable to implement a diversified export expansion strategy for these highly concentrated seafood items. In the case of medium-concentration seafood items like tuna, oyster, and flounder, the decision between a concentrated or diversified strategy should be based on their specific export situations. Tailoring strategies to the distinctive market characteristics of each seafood item enables exporters to effectively increase oversea market share, promoting stability and sustained growth in export performance.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.9
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• pp.521-528
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• 2004

The demise of the native franchise markets and the emergence of competitive markets in electricity generation service is substantially altering the way that operation and planning activity is conducted and is making it increasingly difficult for market participants such as generation firms to prospect the future electricity markets. Traditional generation expansion planning (GEP) problems which centrally determine the least-cost capacity addition plan that meets forecasted demand within pre-specified reliability criteria over a planning horizon (typically 10 to 20 years) is becoming no more valid in competitive market environments. Therefore, it requires to develop a new methodology for generation investments, which is applicable to the changed electric industry business environments and is able to address the post-privatization situation where individual generation firms seek to maximize their return on generation investments against uncertain market revenues. This paper formulates a new generation expansion planning problem and solve it in a market-oriented manner.