• 유통과학연구
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• 제16권5호
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• pp.31-43
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• 2018

Purpose - We examine how a Korean retail firm's social responsibility is related to its financial performances. The traditional view of corporation expects a negative relationship, while the stakeholder theory expects a positive one. Research design, data, and methodology - We adopt the ESG score, published by Korean Corporate Governance Service to measure the level of socially responsible activity for the Korean retail firms. The ordinary least square method is adopted to investigate this relationship. The publicly traded retail firms are examined from 2011 to 2016. Results - We find that the total ESG score is negatively related to ROE but shows no statistically significant relationship with ROA and Tobin's Q value. However, a firm's environmental score is negatively related with both of ROE and ROA. Its social score is no conclusive relationship with the performance measures. The governance score is negatively related to the value of Tobin's Q. Conclusions - This paper generally supports the traditional view of corporate theory, especially in terms of ROE. This evidence is not well aligned with the existing study for Korean corporations generally documenting positive relationships. We find almost no empirical evidence supporting the stakeholder theory of corporation in the Korean retail industry.

• 품질경영학회지
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• 제36권4호
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• pp.102-116
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• 2008

The most widely used models to study the quality of service are the SERVQUAL and SERVPERF models that measure service mechanisms. This paper is to estimate service efficiency and consistency for Retail Industry. We tried to measure the service quality and overall satisfaction by using DEA and PCI, degree of combination and top2box which is a little bit different methodology from traditional ones. Rather than using the usual method of converting the service quality index by mean value, the Service Efficiency Index(SEI) and Service Quality Consistency Index(SQCI) are used to measure the efficiency and consistency level, which in turn can be used as the new service quality indices. The result of SEI and SQCI show the efficiency frontier in retail industry that 6 DMUs are analyzed relative efficient DMUs, 12DMUs are inefficient DMUs and retail Industry consistency level appeared low(0.35-0.47) Also, there is a significant difference in terms of efficiency and consistency in the each retail industry. Finally, we showed the summarized result as the Effi-Con Matrix.

• 유통과학연구
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• 제19권5호
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• pp.13-21
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• 2021

Purpose: The sports leadership theories are crucial in ensuring the success of corporations. This study shall discuss the various leadership theories employed in the sports industry and how they can be incorporated within the retailing sector to enhance the service quality and promote substantial customer value towards all the consumers visiting the retailing stores. Research design, data and methodology: The present researcher gathered textual data on potential solutions for coding of development through web searching method and coded and produced various topics as solution providers. Methods were then established to enhance quality on customer value by the leadership within their businesses, and the researcher subsequently presented the findings. Results: This study provides a total of nine solutions which are helpful systemically for practitioners in the retailer service sector. These numerous solutions can be incorporated within the retail industry through the sports leadership theories employed in the sports industry to help achieve a full and strong customer value. Conclusions: Finally, the present study concludes that the retail industry and management need to ensure that a substantial customer value is built through high-quality services rendered towards the clientele base, employing sports leadership theories such as path-goal, authentic leadership, transformation, situational and leader-member exchange theories.

• 융합경영연구
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• 제11권5호
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• pp.45-55
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• 2023

Purpose: As one of the continuous studies on the offline distribution industry, the purpose of this study is to find ways for offline stores to respond to the growth of online shopping by identifying research trends on department stores. Research design, data and methodology: To this end, this study conducted word frequency analysis, word co-occurrence frequency analysis, BERTopic, LDA, and dynamic topic modeling using Python 3.7 on a total of 551 English abstracts searched with the keyword 'department store' in scienceON as of October 10, 2022. Results: The results of word frequency analysis and co-occurrence frequency analysis revealed that research related to department stores frequently focuses on factors such as customers, consumers, products, satisfaction, services, and quality. BERTopic and LDA analyses identified five topics, including 'store image,' with 'shopping information' showing relatively high interest, while 'sales systems' were observed to have relatively lower interest. Conclusions: Based on the results of this study, it was concluded that research related to department stores has so far been conducted in a limited scope, and it is insufficient to provide clues for department stores to secure competitiveness against online platforms. Therefore, it is suggested that additional research be conducted on topics such as the true role of department stores in the retail industry, consumer reinterpretation, customer value and lifetime value, department stores as future retail spaces, ethical management, and transparent ESG management.

• 한국의류학회지
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• 제30권11호
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• pp.1495-1506
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• 2006

The purposes of this study are to investigate the formation and the change of apparel retail structure historically with the viewpoint that the retail structure is affected by the process of economic development. This study was done by literature research method and the result of this study is the following. The tailor and seamstress shops, the first clothing shops in Korea, were replaced by ready-made shops, because mass production system which had developed with the industrialization of Korea increased the advantage of economy of scale compared to handicrafts individual one. After that, the production system of apparel industry had been efficient continuously, while retail system had not. The retailing of famous brand apparel conducted by exclusive franchise store caused supplier oriented markets where the opinion and the desire of consumers were not reflected. While the retailing of the unknown brand apparel handled by small retail stores were inefficient. As the apparel industry matured in 1990s, various types of new stores appeared such as specialty stores, discount stores, TV home shopping, internet shopping, outlet malls, and big fashion stores in Dongdeamoon. These new stores have features of seeking profits in mass merchandising. As these large retail stores grow, the apparel retail structure of Korea is changing from a fragmented market to a vertically integrated one. This change is shown by the decrease of stores per inhabitants. With the change of environment, the apparel retail system which has lagged behind comparatively is expected to develop into more efficient system based on the large capital investment which raise the advantage of economy of scale.

• 한국유통학회지:유통연구
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• 제16권5호
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• pp.171-192
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• 2011

본 논문은 한일 양국 유통산업의 공통점과 차이점을 분석하기 위해 각국의 산업별 국민경 제의 점유율, 유통산업의 생산성, 산업연관분석 등을 수행한 결과를 다음과 같이 요약하였다. 농림어업의 국내총생산 점유율은 한일 양국 모두 하락하고, 제조업은 한국이 증가하고 일본이 하락하는 반면 유통산업은 한국이 하락하고 일본이 상승했다. 고용인구의 점유율은 모든 산업이 한일 양국 모두 하락하고, 상대적 노동생산성은 농림어업, 유통산업 등이 한일 양국 모두 노동력을 필요로 하는 반면 제조업은 충족하고 있다. 유통산업에 대한 국내총생산의 연도별 추이는 한일 양국 모두 영향력계수에 비하여 감응도 계수가 크다. 한일 양국 간 유통산업에 대한 국내총생산의 연도별 영향력계수는 일본에 비하 여 한국이 큰 반면 감응도계수는 한국에 비하여 일본이 크다. 최종수요의 생산유발효과는 한 국에 비하여 일본이 큰 반면 수입유발효과는 일본에 비하여 한국이 크다. 유통산업비의 상승은 섬유 및 가죽제품, 음식료품, 목재 및 종이제품 등의 산업부문에 한일 양국 모두 직접 간접적인 파급효과가 크다. 한일 양국 간 비교하면 대부분의 산업부문, 기업 물가지수, 소비자물가지수 등은 한국에 비하여 일본이 파급효과가 크다. 한일 양국의 시차 간 유통산업의 영향력은 유사한 반면 감응도는 일본에 비하여 한국이 약 화되는 것으로 보아 한국의 유통산업은 적극적인 방향을 정책수립에 반영할 필요가 있다. 유통산업은 투자부문에서 한국은 공공주도형의 경향을 나타내는 반면 일본은 민간주도형의 경향을 나타냈다. 앞으로 한국의 유통산업은 일본과의 시차를 감안한다면 경제발전과 안정단계 에 진입하면서 민간주도형으로 전환될 것으로 예측되기 때문에 정책방향을 설정하는데 중요 할 것이다.

• 마케팅과학연구
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• 제20권1호
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• pp.70-79
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• 2010

现在已有一些旨在解决韩国不道德消费行为的研究, 然而大部分研究把重心放在购买假冒伪劣产品或者入店行窃上. 服装的高额回报率和曾经的服装回扣被认为是时尚产业的问题领域. 然而, 很少研究者致力于这一问题的解决. 因此, 本研究目的在于, 通过使用一种混合的方法路径来探讨消费者零售借贷的经验. 实验一主要通过小组面谈的方式来探讨韩国消费者零售借贷的经验. 实验二通过在线调查的结果显示服装消费者对于零售借贷行为的态度. 调查结果促进了研究人员和从业人员对于零售借贷行为的理解, 同时也深入洞察了服装零售业中的零售借贷问题. 在研究1中, 我们把在过去一年中有零售借贷行为的人分成七组进行五次集中讨论. 参加了这次讨论的韩国消费者中, 有35个在大城市居住. 大部分消费者都是20来岁(21岁), 且以女性居多(24个). 大部分的参与者从一个零售商处购进一批服装, 然后对旧的衣物不是要求全额退款就是就是要求将旧的衣物更换成新的. 零售借贷行为的动机包括社会需要, 工作需要, 时尚需要和 "智能购物" 的理念. 与其他国家现有的研究的结论相似, 在分析时装商店的零售借贷现象时, 最经常被提到的原因是社会需要. 而消费者的道德价值观, 对大公司的态度, 以往的借贷消费经历, 也被认为是影响消费者的零售借贷行为的可能因素. 在研究2中, 收集数据的问卷是基于第一部分研究的成果和其他现有研究结果设计的. 问卷的问题主要关注消费者的道德信仰, 寻求刺激的倾向, 自我价值, 过去的零售工作经验, 零售贷款的经验, 以及他们的一些群体特征等等. 数据的收集是由首尔一家商业网络研究公司的在线调查小组来完成的. 为了保证样本的多样化和有效性, 该公司设计了这样的抽样配额(男: 女= 1:1, 20岁: 30岁: 40岁= 1:1:1, 零售经验: 没有零售经验= 1:3). 共有401个在前6个月有过购买服装经历的消费者参加了这次网上调查. 结果显示19.7%的受访者都表示他们曾经有过借贷购买时尚商品的经历. 在这些受访者中, 男性借贷人约占57%, 多于女性借贷人. 通过年龄的分布来看, x2 显示在拥有或者没有零售借贷经历的受访人之间存在着统计学上的差异: 有41.8%的受访者是在40岁的时候拥有零售借贷经历, 而那些没有零售借贷经历的受访者大约分布在20岁到40岁之间. 在收入方面, 拥有或者没有零售借贷经历的受访者之间也有很大的不同: 前者较于后者, 收入要高一些. T测试主要是在有或者没有零售借贷经验的受访者之间进行比较, 对比他们的时尚购物行为, 道德信念, 感觉寻求的倾向和对零售借贷行为的态度. 与那些没有借贷经验的受访者相比, 有经验者更趋向于频繁的购买时尚物品或者花费更多的钱用在购买时尚物品上. 有借贷购买经验的顾客往往比无经验者有更高的寻求新奇刺激的倾向. 一份回馈的分析表明对于时尚物品零售借贷购买的态度和顾客的道德信仰呈负相关, 但是与每月购买时尚物品的频率, 对新奇事物感觉趋向的走势以及过去的时尚物品零售借贷的经验呈正相关. 在这些变数之中, 过往的零售借贷经验是最重要的预测因素, 道德信念紧随其后. 本次研究作为初次尝试旨在了解零售借贷行为基础背后的动机和影响这些行为的要素. 这次研究的结果可以使我们对消费者零售借贷行为有更深一步的理解, 并为解决方法提供一个基础, 以帮助减少零售借贷行为和时装零售商店的不适当回扣. 这个结果也可以长期为消费者教育提供资料. 为了更好的理解时尚零售借贷行为, 未来还有更多的研究亟待进行.

• 유통과학연구
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• 제13권3호
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• pp.69-77
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• 2015

Purpose - The purpose of this study is to examine whether the cash policies of retail firms listed on Korean stock markets are consistent with the evidence provided in the study of Almeida et al. (2004). Liquidity management is an important issue for financially constrained firms relative to financially unconstrained firms. Because there are few sources of external funding, the optimal liquidity policies of financially constrained firms should reflect their own earnings or cash inflows to create opportunities for current and future real investments. According to this simple idea, we estimate the sensitivity of cash to cash flows and simply check whether the estimated sensitivity to cash flows of the cash retained by constrained retail firms is greater than that of the cash retained by unconstrained retail firms. Through this work, we aim to explain why the cash policies of the retail firms listed on the Korean stock markets differ from those of listed manufacturing enterprises. Research design, data, and methodology - To explain a firm's cash holdings, we use only three explanatory variables: earnings before interest and taxes (EBIT), Tobin's q, and size. All the variables are defined as the value of the numerator divided by aggregate assets. Thanks to this definition, it is possible to treat all the sample firms as a single large firm. The sample financial data for this study are collected from the retail enterprises listed on the KOSPI and KOSDAQ markets from 1991 to 2013. We can obtain these data from WISEfn, the financial information company. This study's methodology has its origin in Keynes's simple idea of precautionary liquidity demand: When a firm faces financial constraints, cash savings from earnings or cash inflows become important from the corporate finance perspective. Following this simple idea, Almeida et al. (2004) developed their theoretical model and found empirical evidence that the sensitivity of cash to cash flows varies systematically according to different types of financing frictions. To find more empirical evidence for this idea, we examined the cash flow sensitivity of the cash held by Korean retail firms. Results - Through several robustness tests, we empirically showed that financially constrained Korean retail firms display significant positive propensity to save cash from earnings before interest and taxes, while the estimated cash flow sensitivity of the cash held by unconstrained retail firms is not significant. Despite the relatively low earnings of retail firms, their sensitivity is three times greater than that of manufacturing enterprises. This implies that Korean retail firms have greater intentions of facilitating future investments rather than current investments. Conclusions - The characteristics of the cash policies of Korean retail firms differ from those of manufacturing firms. This contrast may be attributable to industry-oriented policy planning, regulations, and institutional differences. However, the industrial policymakers should observe signals of the long-term growth options of retail firms based on their high propensity to save from their cash inflows.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.297-303
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• 2021

The performance of the retail industry in a country, which simultaneously reflects the demand for retail space, is significantly influenced by the macroeconomic environment of said country. However, in the case of Malaysia, studies regarding this issue are limited. Therefore, this paper aims to identify the macroeconomic determinants of the demand for retail space in shopping centers in Malaysia through the study of six variables: per capita income, private expenditure, inflation rate, interest rate, total population, and the number of tourists arrival. The nexus between these variables and the demand for retail space in shopping centers were examined by cointegration and causality tests, and regression analysis using quarterly data for the period 1993Q1 to 2016Q4. The results from bivariate cointegration tests indicate that inflation rate, interest rates, population size, and the number of tourists arrival have significant long-run relationships with the demand for retail space of Malaysian shopping centers. Meanwhile, the Granger causality tests show that only population size can cause the demand for shopping centers' retail space. Finally, the results from the regression analysis revealed that income per capita, private expenditure, interest rates, and population are the variables that significantly influence the demand for the retail space of the Malaysian shopping centers.

• 유통과학연구
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• 제22권5호
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• pp.131-138
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• 2024

Purpose: This study aims to fill the existing gap in the existing literature by investigating the mediating effect of psychological empowerment between leadership and motivation for workers at retail stores, and to extend the previous research to determine the preferences of the researchers and practitioners in leadership and employee motivation in retail through a systematic approach. Research design, data and methodology: This study used a systematic approach to the mediation effect of psychological empowerment on the relationship between leadership and employee motivation in retail stores. To ensure completeness, systematization, and transparency, the preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) approach was applied. Results: The research findings (Total Four Mediating Roles) suggest that psychological empowerment may mediate between leadership and employee motivation. These mediation roles (Empowering Leadership Styles, Organizational Culture and Psychological Empowerment, Customer Psychological Empowerment, and High-Performance Work Systems (HPWS) and Psychological Empowerment) will help practitioners comprehend how these empowerment and motivation leadership styles are interconnected in the retail industry. Conclusions: The research results indicate that psychological empowerment is essential for employee motivation in the retail sector. Through this knowledge, retail store managers can implement strategies designed to empower employees and create a motivated workforce, bolstering organizational effectiveness.