• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.103-115
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• 2021

This study investigates the relationship between family ownership and the stock price crash risk. It believes that this relationship would never be in direct connection. The authors design and then find that family ownership is predisposed, in the first place, to the related party transaction, then the related party transaction causes the future stock price crash. This study infers that employing the power of family ownership creates the Type I agency problem, although this is not relevant for the Type II problem. From the perspective of the hoarding theory, family ownerships produce opaque accounts by blurring financial information. The blurred information is probably hidden in the related party transactions. This study, therefore, splits these transactions into accounts receivable, other accounts receivable and other receivables. Finally, this research concludes that the family ownership affects related party transactions. These then are used as an instrument to influence the leaded related party transaction. The latest, leaded related party transactions influence the future stock price crash. This study infers that related party transactions are abusive practices, especially on the types of receivables. It implies corporate governance's revitalisation.

• Journal of Korean Port Research
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• v.13 no.2
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• pp.199-214
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• 1999

Recently leading edge companies use the Supply Chain Management as a competitive weapon to secure and maintain customer loyalty. As a consequency they are concentrating resources on the company’s core business and employing strategic alliances with third-party providers to ensure the company provides its customers’desired logistics service levels at acceptable costs. Under this circumstances this paper surveys the third party logistics as a leading edge logistics industry coping with the progress of the supply chain management. The status and the type of the TPL including the Forwarder are analyzed in the view point of global logistics. Also the development strategy of third party logistics in the future is suggested.

• Journal of the Korean Society of Clothing and Textiles
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• v.36 no.1
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• pp.12-26
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• 2012

Young people have got to like 'party' and 'attending parties' is considered 'reflection of trendy lifestyle' nowadays. The more party experiences they have, the more party wear styles get various and detail. They want different styles for the next party and it stimulates designers to create something new. We now realize that the party has become popular with an increased market demand for party wear. In addition, we analyze dress styles according to party types to suggest a new dress style to satisfy consumer needs. We suggest two ways to research party wear industry conditions in Korea. Off-line shop managers need to offer practical and various designs for a good price according to party types that make distinctions between on-line and off-line shops. On-line shop managers need to use better materials and develop better service. Considering an analysis of dress style according to party types, an elegant style is good for a formal dinner party and an evening party. A romantic style is good for a season party (such as a New Year's party, a Valentines party and a Christmas party) and a chic style is good for a music party (such as a classic party, jazz party and pop-era party). In addition, the result of a dress style analysis according to party types can be used for the tip for the development of designs to come in the party wear market as well as for a dress style guide to the partiers.

• Journal of the Korean Society of Food Culture
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• v.19 no.5
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• pp.532-543
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• 2004

The purpose of this study was to investigate three different perceptions based on major 23 part planning attributes. These party planning attributes were categorized using exploratory factor analysis. Three groups of respondents were identified based on the sample data; the first group is a group of people experienced parties before, the second group is a group of people intended to attend parties in near future, and the third group is a group of people who want to be a party planner. Respondents participated in this study express their own perceptions on party-planning attributes. The study shows that the perceptions of respondents were significantly different from each other. Particularly, prospective party planners emphasize on artistic attributes, such as harmony between dishes and foods or between the party concept and foods. However, party attendees more importantly considered other attributes, including the event suitable to the party type, places held a party. The research suggests that understanding party attendees' perception will provide useful information to develop party events that can reflect customers' desires.

• Journal of the Korean Society of Clothing and Textiles
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• v.33 no.11
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• pp.1733-1743
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• 2009

The LOHAS trend is based on a present and future culture with a sustainable influence on the life of modem humans. This study examines the LOHAS trend to create a design that is practical and reflects a notion of LOHAS in quality. Design making is selected with three sub-themes under the concept 'With Us, Nature & High Touch' and the dress design that is suitable to the type and purpose of the parties following the concept. Theme A, "Neo-Classicism" is for a reception party. It made efficient use of 'Type of environmentally friendly material practical use + Type of multi-function design + Type of order production + Type of society morals design'. Theme B, "Between Virtual & Reality" is for a wedding reception. It made efficient use of 'Type of environmentally friendly material practical use + Type of multifunction design + Type of retrenchment design + Type of order production + Type of society morals design'. Theme C, "Arty Illusion" is for a cocktail party. It made efficient use of 'Type of Re-design + Type of nature motive practical use + Type of the higher sensitivity pursuit design + Type of order production + Type of society morals design'. This study explained that nature, environment, and a sense about society are put to practical use in fashion design through the creation of a fashion design to apply a LOHAS fashion design notion and a special quality.

• The Research Journal of the Costume Culture
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• v.18 no.5
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• pp.809-823
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• 2010

The 21st century is the age of culture and sensitivity. As the interest in the art and culture grows, Artygen who prefers artistic designs grow in number. The desire to enjoy life from the increase of leisure time and financial afford ability created a new trend of party culture. This study analyzes the characteristics of Artygen who pursues artistic sense and sensitivity and suggests party-wear designs that please Artygen and accentuate individuality and personal preferences in a party, which is a type of popular entertainment these days. Through literature review, the background of Artygen and party was examined; First, in order to analyze the feature of art designs, photos of products that were in fashion from 2007 to 2009, (during which the term, 'Artygen', was coined) were collected. Second, in order to analyze the party-wear designs, photos of party-wear in wine party and club party popular among young people in the 20~30's were collected. Through the analysis, the party-wears targeting Artygen was developed based on the characteristics of popular art designs. The results of this study were as follows. First, from the result of analyzing the art design shown in product, casual, romantic, modern, dynamic and gorgeous images were. Second, art design shown in fashion, casual, romantic, chic, dynamic and gorgeous images were. Third, in wine party, romantic, elegant, gorgeous and formal images were in order and in club party, casual, gorgeous, chic and romantic images were in order. Fourth, the study displayed design by connecting aesthetic factor of artistic design to 2 wine party-wear of romantic and gorgeous images and 3 club party dresses of casual, gorgeous and chic images.

• The Research Journal of the Costume Culture
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• v.19 no.3
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• pp.542-555
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• 2011

Internet shopping malls have rapidly developed within the economic recession due to changed lifestyle according to digitalization. Furthermore, customers in the 20~30s, the main consumer base of internet shopping malls in Korea, have begun to enjoy the new cultural trend of party culture, thus creating a new fashion market combining party and fashion. Therefore, the purpose of this study is to analyze design characteristics of internet party-wear shopping malls to provide guidelines and to present basic data for design development of party-wear in internet shopping malls. Research method was used by combining literary research with empirical research of analyzing design by capturing pictures of internet party-wear shopping malls. The following conclusion was drawn from research results. First, Party-wear consumption of internet shopping malls is increasing along with the increased sales of clothing fashion products of internet shopping malls. Second, design analysis results regarding 11 internet shopping malls selling party-wear was presented that consumer emotion and trend were combined according to distinct characteristics to display romantic style, romantic style mixed with modern or casual characteristics, sexy, and etc. Third, dress was presented as the most common item with 52.3% in item analysis executed on 588 pictures captured in 11 shopping malls. Ribbon was shown as the most common detail and trimming item, with 28.7%, and corsage and frills were each presented as 13%.

• Asia Marketing Journal
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• v.10 no.1
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• pp.25-64
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• 2008

Third-Party awards are growing in popularity. They are the hit product of the year chosen by The Korea Economic Daily, the best 10 products of the year chosen by Sports paper, the best hit product chosen by consulting firm and the best venture company of the year chosen by Information and Communication Ministry. Then these questions may be followed. Why industry likes this type of advertisement? Does this type of advertisement influences consumers' purchase intention? And if it does, how? Many researchers have been interested in external cue of product quality by focusing research effort on brand, price, producer, warranty etc. However, important but under-explored area is the role of third-party reference for signaling product quality. This paper comes from the idea that the third-party reference may signal consumers like manufacturer brand, product brand, product price, and shop brand. We develop a related theories to address research questions and drive some research hypotheses based on the previous studies probing source credibility, attribution, and signal theory. We put more emphasis on source credibility. We conducted the research based on 3x2x2x2 between group factorial design to explore causal relationship between the third party award winning advertising(real, fictional, no) and the purchase intention of consumers exposed to other information simultaneously such as product type(experience, search), distribution channel(direct, indirect) and perceived price(high, low). Since subjects are divided into 2 groups based on the means of response without extra experimental stimulus in case of perceived price. 12 different advertisements are used for conducting this study. The results are followings. First, the source credibility of the third party goes up, consumers' purchase intention would go up. It seems that consumers think the credibility of the third-party most when they are exposed to the third party award winning advertisement. Second, the product type does moderate the relationship between the third-party award winning advertisement and purchase intention. And the type of the distribution channel also moderates this relationship. The consumers' purchase intention goes up higher when they buy experience good and there is significant difference of purchase intention when consumers are exposed to direct channel treatment condition. But, perceived price has nothing to do with the third-party winning advertisement context for raising consumer intention to buy advertised product.

• Journal of Environmental Policy
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• v.8 no.4
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• pp.75-94
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• 2009

The process of obtaining third-party financing contacts was analyzed via a two-stage game model: a "signaling game" for the first stage,and a "principal-agent model" for the second stage. The two-stage game was solved by a process of backward induction. In the second stage game, the optimal effort level of the energy saving company (ESCO), the optimal compensation scheme of the energy user, and the optimal payoffs for both parties were derived for each subgame. The optimal solutions forthe different subgames were then compared with each other. Our main finding was that if there is some restriction on ESCO's revenue (e.g. a progressive sales tax) that causes ESCO's revenue toincrease at a decreasing rate, then the optimal sharing ratio is uniquely determined at a level of strictly less than one under a linear compensation scheme, i.e. a unique balance exists. Subgames have a unique equilibrium arrived at separately for each situation,. Within this equilibrium, energy users accept energy audit proposals from H-type ESCOs with high levels of technology, but reject proposals from L-type ESCOs with low levels of technology. While L-type ESCOs cannot attain profits in the third-party financing market, H-type ESCOS can pocket the price differential between L-type and H-type audit fees. Accordingly, revenues in an H-type ESCO equilibrium increase not only in line with the technology of the ESCO inquestion, but also faster than in an L-type equilibrium due to more advanced technology. At the same time, energy users receive some positive payoff by allowing ESCOs to perform third-party financing tasks within their existing energy system without incurring any extra costs.

• Knowledge Management Research
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• v.15 no.3
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• pp.141-168
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• 2014

Purchasing through Internet shopping mall has more uncertainty compared with offline shopping mall. Previous studies have presented that trust plays a role of reducing uncertainty and increasing purchasing intention. In this study, we suggest that third-party assurance and word-of-mouth contribute to the formation of trust. In addition, we also propose that ease of product evaluation plays moderating roles in the relationships between third-party assurance, word-of-mouth and trust. For this study, we collected sample data from two groups consisting of online shoppers purchasing the search goods and experience goods categorized by type of ease of product evaluation. Empirical results show that word-of-mouth and third-party assurance have different effects on trust in two groups. The third-party assurance has a stronger impact on trust in online shopping group of the search goods than in the experience goods, while word-of-mouth in the online community has a stronger impact on trust in online shopping group of the experience goods than in the search goods. We expect that this result will provide researchers and managers who are interested in trust formation factors in online shopping mall with useful theoretical and practical implications.