- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
Vol.15 No.11
Abstract
Purpose - According to the research findings, it proposes corresponding market promotion schemes, for Alipay, WeChat wallet and even other payment service providers and mobile internet companies to understand the factors which promote or hinder users' acceptance of mobile payment. Research design, data, and methodology - Statistic analysis of data and social science statistical software of IBM Statistics 23.0 and IBM SPSS AMOS 23.0 were adopted for all the data researched. Results - The technical features of the third party mobile payment and the task characteristics of users have positive influence on the matching degree between task and technology, and the matching degree between task and technology of the third party mobile payment has positive influence on the performance expectancy, effort expectancy and usage intention. The social influence, facilitating condition, price value and enjoyment motivation have significant and positive influence on users' intention of mobile payment adoption. The perceive security of the mobile fingerprint payment of users has positive influence on users' intention of usage. Conclusions - This research has the main contribution on the analysis on the key factors with influence on the third party mobile payment usage by utilizing the integrated model of UTAUT2 and TTF.
Abstract
Purpose - Relationship between farm and county losses determines whether the county program provides too little, too much, or similar amount of assistance relative to the loss on an individual farm. A review of the literature finds limited analysis of the determinants of this relationship. This paper conducts such an analysis using farm-level yield data. Research design, data, and methodology - Farm-level yield data from Illinois and Kansas farm business management associations are used for to calculate the correlation between farm and county loss and the share of farm loss systemic with county loss, and also for the regression analysis. Results - Average share of farm loss systemic with the county loss lies between 42% and 68%. The correlation between farm and county yield/revenue deviation from expected value is statistically significant in all four models. The coefficient is positive, implying the higher the correlation, the larger the share of farm loss that is systemic with the county loss. Conclusions - The findings of this study are consistent with the existing literature which argues that county variability may not be closely associated with farm variability. The findings of this study thus raise questions about the efficacy of area yield and revenue insurance products in helping farmers manage their risk.
Abstract
Purpose - This research aims to examine the influence of social capital formed on SNS on SNS users' life satisfaction. This research divides social capital into bridging and bonding social capital based on Social Capital Theory and suggests that each type of social capital will have a positive impact on SNS users' life satisfaction. In addition, this research suggests the self-construal of SNS users as a moderating variable based on Self-Construal Theory. Research design, data, and methodology - To test the hypotheses presented, an online survey was conducted with adult participants. An online research company was hired to conduct an online survey; survey participants were volunteer adult participants residing in Korea. And data was analyzed using SPSS. Results - Analysis results showed that the impact of bonding social capital on life satisfaction was not statistically different between SNS users of differing self-construals(independent vs. interdependent self-construal). However, this study also determined that the impact of bridging social capital on life satisfaction was greater for SNS users with an interdependent self-construal as opposed to those with an independent self-construal. Conclusions - The results of this study expand the scope of available research on social capital formed on SNS and provide practical implications for SNS providers.
Abstract
Purpose - Capital structure adjustment costs influence the test of the standard trade-off theory of capital structure. We investigate whether there exist economically significant capital adjustment costs in the Korean retail industry. Research design, data, and methodology - This paper adopts the model of Leary and Roberts(2005) to obtain the hazard rate of capital structure variations. The retail firms traded in the KOSPI and KOSDAQ markets are analyzed from 2000 to 2016. Results - The empirical analysis shows infrequent capital structure adjustments in the Korean retail firms. The duration analysis emphasizes that the fixed adjustment cost plays an important role in the determination of capital structure adjustments for the Korean retail firms. Yet, even after taking account of infrequent capital structure adjustments, the trade off theory only weakly explains the capital structure variations of the Korean retail firms. Conclusions - This paper confirms the existence of capital structure adjustment costs for the Korean retail firms. Our results argue for the significance of fixed adjustment costs in capital structure adjustments. Such emphasis on the fixed cost is inconsistent with the existing studies. The trade off theory does not successfully explain capital structure policy in the Korean retail firms even after considering adjustment costs.
Abstract
Purpose - In Korea, general super markets have a great impact on the market performance of traditional markets. We propose a modified two stage DEA model for evaluating the performance of traditional markets in Incheon, Korea by identifying the influence of external environmental factors including the presence of general super markets as non-discretionary variables in DEA. Research design, data, and methodology - After obtaining bias-corrected estimates of original DEA efficiency scores using the input and output data of 49 traditional markets, we regress them on several external environmental factors by bootstrap-truncated regression. Results - We obtain bias-corrected efficiency scores from the original DEA efficiency scores by bootstrap and among the five environmental factors, the residential population and the presence of general super markets or SSMs can be considered as the driving forces influencing bias-corrected efficiency scores, positively and negatively, respectively. Conclusions - When DEA efficiency scores tend to be overestimated, we need to use a biased-corrected efficiency score by bootstrap. It is important to note that the efficiency of traditional markets can be largely influenced by external environmental factors such as the presence of general super markets or SSMs that traditional markets can not control. Therefore, it is desirable to consider such environmental factors appropriately for a reasonable performance evaluation.
Abstract
Purpose - This paper evaluated the efficiency performance of the three major maritime transport markets and examined the determinants of the performance. The firms' revenue fluctuates with the changes of the economic cycle; hence it is important for them to set up business strategies to improve efficiencies. A lack of efficiency measurements for shipping firms leads to a significant gap in determining their overall performance. Research design, data, and methodology - Each of DEA scores was adopted for the evaluation and panel regression was used to examine the impact of determinants on the performance. The analysis included 50 shipping firms from three maritime transport markets as follows; 15 firms of container liners, 18 firms of bulk carrier and 17 firms of tanker carriers, and its period was from 2010 to 2016. Results - In the CCR model, container liners were the highest, tanker carriers were the second, and bulk carriers were the lowest in operation efficiency and financial efficiency. By region, operation efficiency and financial efficiency was high in the order of America, Asia, and Europe. Conclusions - This study suggests business strategies for maritime transport companies based on the analytical results of determinants of operational and financial efficiency.
Abstract
Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.
Abstract
Purpose - The study aims to analyze the VMD(Visual Merchandising) perception factors in recent sporting goods store and clarify the effect of each VMD perception factors on brand image, satisfaction, and customer revisit intention. The VMD perception factors play an important role in attracting and actually inducing sales to the visiting customers. It has investigated the effect of VMD perception on customer satisfaction and revisit intention. It is expected that the company's marketing strategy with VMD will be differentiated and competitive in sports item stores, brand image enhancement, customer retention, and acquisition. Research design, data, and methodology - In order to verify the hypotheses of this study, a total of 380 questionnaires had been distributed. 360 respondents were used in the final analysis excluding 20 respondents' incomplete answers. The SPSS 18.0 program was used and the data analysis was conducted for the demographic characteristics and distribution behavior. Principal Components Analysis was used for the common factor extraction for validity analysis, and factor analysis was conducted to verify such as validity in brand image or brand attitude. As for Multiple regression analysis, was performed to verify <H 1> and <H 2> in the research model, and in <H 3> and <H 4>, the mediation was defined through the Sobel Test in order to verify the brand image mediating effects on VMD, store satisfaction, and revisit inquiry of sports store. Results - Qualitative research shows that VMD sub-variables such as aesthetic, fitness, and functional convenience influence store satisfaction and revisit intention. As a result of analyzing the mediating effect of the brand image, the more VMD is strengthened, the more brand image is improved and store satisfaction is also increased. Conclusions - VMD enhancement requires a VMD strategy aligned with the company's management policies and objectives, a visual directing and consistent concept that delivers a strong message to customers. The customer actual purchasing behavior is a combination of various factors such as sports item stores' interior design, display, advertisement promotion like POP(Point of Purchase), salespersons and their service quality, so that the VMD image and the brand image must be consistent and a unique strategic plan is required.