• Journal of Distribution Science
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• v.13 no.4
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• pp.65-76
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• 2015

Purpose - This article aims to present and test a model regarding franchisors' supporting activities that may positively influence franchisees' attitude toward the franchising headquarter and their own business performance. Moreover, the authors examine the moderating effect of competitive intensity between franchisee attitude and business performance. Most previous research focused on behavioral performance measurements such as satisfaction, trust, and commitment. There are few empirical studies that focus on financial performance data because it is difficult to determine a relational mechanism between behavioral and financial performance. Moreover, financial data is confidential and difficult to collect in many cases. However, this study measures financial performance (e.g., sales revenue per square meter) differently than most previous research, which is mostly focused on the behavioral performance measurements. Research design, data, and methodology - To test our hypotheses, we selected 137 franchisee managers who are running chains of one of the foremost bakery franchise brands in South Korea. This study carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed instrument by analyzing the data obtained from the samples. The data was analyzed using the AMOS structural equation modeling program. Results - The results indicated that: non-financial support activities (e.g., information exchange and communication) had a positive impact on the franchisee attitude toward the franchising headquarter. The franchisee attitude in turn had a positive effect on the headquarters' business performance. Furthermore, competitive intensity could enhance the relationship between franchisee attitude toward franchising headquarter and business performance in a local franchise market. However, financial support activities (e.g., rewards and promotional support) and training had no relationship with either franchisee attitude or business performance. Conclusions - This study provides some practical implications to franchisors in terms of franchise operation and store opening strategies. With respect to the franchise operation strategy, franchisors need to focus on non-financial rather than financial support. Most franchisees consider the necessity of financial support activities and not their sufficiency because these activities are specified in their franchise contract. In addition, it is important for franchisees to maintain a positive attitude for the franchise headquarters. The franchisees with a positive attitude for the franchisor can show a high degree of solidarity for various support activities, and it consequently determines franchisees' sales performance. In terms of franchise store opening strategy, this study suggests an additional criterion that can be considered in determining the location of direct and non-direct management stores (e.g., franchisees' stores). In this research, franchise stores located within high level of competitive intensity are shown to have a high relationship between franchisee attitudes of franchisor support activities and business performance compared to the franchisees located within low competitive intensity level. This result shows that opening non-direct franchise stores is more effective than direct stores in higher competitive market situations. Research contribution, implications, and further research directions are discussed at the end of the paper.

• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.81-90
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• 2016

This study aims to investigate the association between stock performance and credit ratings, and credit rating changes using a sample of 1,691 KRX firm-years that acquire equity in the form of long-term bonds from 2002 to 2013. Previous U.S. literature is mixed with regard to the relation between credit ratings and stock price. On one hand, there is evidence of a positive relation between credit ratings and stock prices, an anomaly established in U.S. studies. On the other hand, the CAPM model suggests a negative relation between stock prices and credit ratings, implying that investors expect financial rewards for bearing additional risk. To our knowledge, we are the first to examine the relationship between stock price and default risk proxied by credit ratings in period t+1. We find a negative (positive) relation between credit ratings (risk) in period t+1 and stock returns in period t, suggesting that credit rating agencies do not consider stock returns as a metric with the potential to influence default risk. Our results suggest that market participants may prefer firms with higher credit risk because of expected higher returns.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.2
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• pp.55-63
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• 2017

Crowdfunding recently receives a great deal of attentions as an alternative finance for small and medium-sized enterprises or business ventures that suffer from financial constraints. Crowdfunding is a new form of platform that enables a large number of people to invest a small amount of money for promising new business items directly. We analyzed the effect of type, period, method of projects on crowdfunding outcomes. We measure the outcome in terms of the ratio of the collected to the target amount. We collected data from three Korean crowdfunding platform companies, and the data consisted of 239 projects from 2012 to 2014. We use both logit and ordinary least square method for evaluation. Generally, the amount of target itself has no effect on the outcome. Equity crowdfunding shows higher success rate and better outcome than rewards crowdfunding. All or Nothing method leads to the higher ratio of the collected to the target amount than Keep It All. There is an inverted U-shape between the number of investors and the ratio of the collected to the target amount. Finally, the ratio of the collected to the target amount is decreasing in a crowdfunding period.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.34 no.3
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• pp.955-963
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• 2014

The objective of this study is to identify ways to resolve conflicts arising from building new roads or expanding existing roads by introducing negotiation techniques to the Jeju government. A case of city planning (Jungjeong-ro, Seogwipo City, Jeju Special Self-Governing Province) was analyzed in this study in an aspect of negotiation. In the case, the Committee for Promoting and Vitalizing Jungjeong-ro conducted negotiations from February, 2011 to December, 2011. This study proposes ways to establish systems which resolve problems during negotiation processes and frame concepts related to negotiation in the overall administrative systems. Firstly, setting up a negotiation management team within the provincial office and supporting it fully is needed. Secondly, there should be a process in which decisions made by the negotiation team become authoritative. Thirdly, for smooth negotiation processes, it is necessary to formulate ground rules and make negotiating parties obey them thoroughly. Fourthly, a negotiation clinic team should be established at the Jeju provincial government. Fifthly, there should be a negotiation school within the framework of human resources development. Sixthly, If officials do their negotiation jobs positively, a reward system should be established to give them adequate rewards. Lastly, concept of negotiation should take root in administration in general.

• Fire Science and Engineering
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• v.31 no.2
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• pp.106-112
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• 2017

This study examined the burnout intermediates between Fire officials' job stress and Ego-resilience. The objective of this study is to suggest a policy that improves Fire officials' Ego-resilience. This survey was given to 365 fire officials in northern Gyeonggi-do region and the data was analyzed by correlation analysis and regression analysis using SPPS 22.0. The hypothesis is the Fire officials' burnout would be related to Ego-resilience and the effect on Fire officials' job stress regarding Ego-resilience is associated with burnout. The results of the study are that unstable work and inadequate reward affect the measure of burnout, which manifests as sarcasm and job efficacy and reduces the Fire officials' Ego-resilience that results in a positive pointing of the future, emotion control and interest. The meaning of policy is as follows: First, Fire officials need to be given confidence in their work stability. Second, they have to receive social or financial rewards. Third, they require a continuous supporting policy that solves their tension, physical and mental fatigue. Finally, developing diverse educational programs will be needed to promote their Ego-resilience.

• Journal of Korean Society of Transportation
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• v.26 no.6
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• pp.103-112
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• 2008

Implementing hub networks in logistics is generally attractive and effective because of cost savings derived from economies of scale on network transportation, and objective of the hub network design problem is to decide optimal hub locations, and the transportation route of each origin-destination pair. This problem is generally a NP-complete problem not to solve easily, and it is almost impossible to find optimal solutions considering the big-sized network within a reasonable time. This research tried to find optimal logistics strategy in the given big-sized real network and the freight origin-destination data. The objective function, which was proposed by Honor and O'kelly (2001), that rewards economies of scale on network links with increase of transportation volumes, is applied. This thesis proposed the optimal hub network of korea within a reasonable time based on engineering approaches. And it is expected that this thesis can contribute to plan freight policies which can improve to have competitive power in the level of a company or nation by reducing logistic costs.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.11
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• pp.3363-3372
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• 2009

Continued jobless growth in economy, coupled with the current economic recession, is aggravating the situation of job market. In order to create more jobs and reduce the economic gap in a society, an independent creative firm of a sole entrepreneurs is suggested as an alternative mean. Understanding entrepreneurial motivations of a sole entrepreneur will be helpful in developing educational programs on starting an independent creative firm and in establishing a relevant government policy. This study, therefore, proposes a new model on entrepreneurial motivations in the independent creative firm and performs case study. The results of the study show that the personal environment and the personal characteristics of entrepreneurs have much effects on motivation of starting the independent creative firms. Among the personal environments, entrepreneurs' educational backgrounds, work experiences, and personal networks have great influences on entrepreneurial motivations. The processes of sustained entrepreneurship involve: (a) the determination of business ideas and goals, (b) the inception of a new business and managerial activities, (c) the entrepreneur's assessment of both intrinsic and extrinsic rewards of business performances, and (d) the adjustment of business ideas and goals in accordance with the results of the assessment. The results of the study could be applied in developing educational programs and consulting guidelines on independent creative firms and in establishing government's supportive policies on the firm.

• The Journal of the Korea Contents Association
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• v.11 no.5
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• pp.369-383
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• 2011

The purpose of this study was to investigate the determinants of intent to leave among IT industry employees, based on the Price's structural model of employee turnover. The sample used in this study were composed of 370 employees from 10 IT firms located in Seoul and Gyeonggi-Do. Data were collected with self-administered questionnaires and analyzed using structural equation modelling technique. This study found that four task reward variables(job variety, job autonomy, job challenge, and role ambiguity), two social reward variables (supervisory support and coworker support), three organizational reward variables(promotional chances, job security, and distributive justice) and one environmental variable(job opportunity), had significant effects on IT industry employees' intent to leave in terms of total effects and his directions of those significant effects were consistent with theoretical predictions; and that two mediating variables, job satisfaction and organizational commitment had the most important effects on IT industry employees' intent to leave in terms of total effects. The theoretical and practical implications of the research findings were discussed and the directions for future research were suggested.

• Journal of The Korean Association For Science Education
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• v.38 no.5
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• pp.667-680
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• 2018

The purpose of this study is to investigate 1) the types of knowledge students ask for in their reading comprehension of science textbooks using an online annotation system, 2) the accuracy of the knowledge provided by the students to their peers, 3) the frequency of knowledge sharing behaviors, 4) the evaluation of the effect of collaborative reading, and 5) the trust among peers as knowledge sharers. Questions made by 241 students in the second grade of middle school using an online annotation system in two chapters of the science textbook were analyzed using Bloom's revised taxonomy and their answers were grouped according to five accuracy categories. Also, questionnaires for the evaluation of the effectiveness of collaborative reading comprehension and of trust among the students were used. The students asked their peers 'understanding questions' which comprised almost 80% of the total questions they made and were similar with individual metacognitive strategies for reading comprehension. Of the total threads, 71% has scientifically correct threads shared by the students. The frequency of the knowledge sharing behaviors was high but this was affected by the rewards (point system). Students evaluated that collaborative reading comprehension conducted through an online annotation system were helpful in their learning. In addition, the ratio of students trusting their peers who did the knowledge sharing is over 80%. This study shows that when students use an online annotation system, they can fill one another's cognitive gaps in the reading process by sharing knowledge. Also, collaborative reading using an online annotation system has proved that cognitive individualization is possible through sharing knowledge interactively and dynamically, unlike reading hard copies of textbooks which are a one way information transfer.

• Korea journal of population studies
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• v.29 no.1
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• pp.97-131
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• 2006

This study analyses the relationship between mothers and adolescent children in current Korean society from an exchange perspective. Utilizing the 6 types of resources, I. e., service, goods, money, information, status, and affection, suggested by Foa et. al. and the distinction between positive exchange (rewards) and negative exchange (punishments), it explores what resources are exchanged, how the resources exchanged are valued by each party, whether the exchange is symmetrical or asymmetrical, and if gender and age of the child affects the exchange. A survey was conducted to 150 children--from middle school aged to college going, and their cohabiting mothers in the metropolitan Seoul. The overall findings are as follows: Positive exchanges are dominant over negative exchanges. The exchange of positive exchanges occur asymmetrically within each resource type, with the exception of affection which is exchanged in a more equal term. In general, children receive positive resources more often, but mothers value the resources given by their children more highly. Negative resources are exchanged in more symmetrical terms. Negative resources exchanged more frequently tend to have weaker negative valence. Daughters maintain a more intensive exchange relation with their mothers than sons do, and this pattern is especially prominent in the exchanges of information and affection. The age of the child has a weak effect on the exchange.