- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
Vol.15 No.4
Abstract
Purpose - This research analyzes the effects of Korean family ownership characteristics on firm value. The positive and negative effects of family ownership on Korean firm value were analyzed. If negative effects are evident, this research explores the factors that cause a decrease in firm value. Research design, data, and methodology - The study examined a total of 5,743 companies listed on the Korea Exchange from the period 2002 to 2012 using a panel data regression analysis. Result - An empirical analysis suggests that Korean family ownership diminishes firm value. Korean family firm value has been reduced when controlling shareholders are participated in management and pursue excessive wages, or make the management entrenchment effects associated with ownership-control disparity. When the controlling shareholders of family firms have increasing control rights over the shareholders' general meeting and the directors' board, the agency costs associated with seeking increasing executive wages or private benefits reduce firm value. Conclusions - This study has significance because it reveals the negative effect of family ownership in Korea on firm value. These negative effects can be the result of agency problems from controlling family shareholders seeking excessive wages or ownership-control disparity.
Abstract
Purpose - This research aims to determine whether the consumer affinity and ethnocentrism as well as the image of a foreign country (Japanese product as the most popular product in Indonesia) are able to influence behavior related to the perceived risk and willingness to buy foreign products from the affinity country. Research design, data, and methodology - Using survey techniques with 164 respondents, the study uses structural equation model with confirmatory factor analysis (CFA). To ensure the research objective and appropriate respondent, then we select an individual who have interest on Japanese culture & language. The primary and secondary data used in this study. Primary data refers to information collected directly from respondent by questionnaires dissemination while secondary data is provided from well-established literatures. Results - The results show us that the ethnocentrism has dominant affection role compared to affinity in order to influence consumer behavior meanwhile, the product country image has cognition role to evoke consumer desire to consume foreign products. Conclusions - From a theoretical perspective, the study contributes to international marketing literature by refining the conceptualization of the consumer affinity construct and highlighting its multidimensional nature. The consumer affinity research need to enrich in term of the context and the different culture and situation.
Abstract
Purpose - The introduction and expansion of the railway network since the 19th century brought revolutionary changes in economic activities, performance, and structure. The purpose of this study is estimating the impact of railroads on the local agricultural and manufacturing structures in the 19th century USA. Research design, data, and methodology - To identify the impact of railroads on local economic structure, county-level panel data from the U.S. census were analyzed using a panel fixed-effect differences-in-differences regression. The empirical investigation focuses on whether railroads changed the overall volume and sectoral composition of the local agricultural sector, and whether they contributed to the growth of the local manufacturing industry and its productivity. Results - The railroad introduction led to the relative decline of the agricultural sector, while encouraging the growth of market-oriented gardening. As such, manufacturing productivity increased by the introduction of railroads, although manufacturing inputs and home manufactures were unaffected. Conclusions - The findings imply that railroads contributed to the growth of market-oriented farming in rural areas, and the rise of productivity in the local manufacturing sector. Meanwhile, evidence of railroad-driven growth for the entire agricultural sector or a massive reallocation of resources from agriculture to manufacturing were not found.
Abstract
Purpose - This study aims to examine the analysis of pattern on Arab countries consumers' preferences of the Korean Contents using social media, Facebook since Korean entertainment contents have been distributed in the global marketplace. Then we focus on developing Predictive model using a Data Mining Technique. Research design, data and methodology - In order to understand preference growth of Korean contents in Arabic countries, we- collected data from two popular Facebook pages: 'Korean movies and drama' and 'K-pop'. Then, we adopted a data-driven approach based on Data Mining techniques. Results - It is obvious that the number of likes for K-pop will increase for all North African and Middle Eastern countries, however concerning Korean Movies and Drama except Tunisia it is decreasing for Algeria, Egypt and Morocco. Also, concerning Saudi Arabia and United Arab Emirates, the number of likes will decrease for Korean Movies and Drama which is not the case for Iraq. Conclusions - It is noted in this study that K-contents such as drama, movie and music are sometimes a gateway to a wider interest in Korean culture, food and brands. Moreover, this study gives significant implications for developing predictive model to forecast Korean contents' consumption and preferences.
Abstract
Purpose - With the growth of the duty free shop field and an increase in the executive interest in it, it becomes necessary to examine if PBZ (1988) SERVQUAL could be applied to duty free shop service reflecting on this increased interest and the importance of marketing strategy alternative managing multinational customers. Therefore, the present research focused on the comparison of Korean and Chinese consumers. We examined how service quality would affect relationship quality and customer loyalty. Research design, data, and methodology - Surveys were distributed to 235 Korean and 220 Chinese consumers who have visited a Korean duty free shop. We analyzed frequency analysis, mean difference analysis, and reliability analysis, exploratory factor analysis, confirmatory factor analysis, structural equation model analysis, and multi-group analysis. Results - First, perceived tangibles, responsiveness, empathy, assurance, price benefits, product diversity, and IT convenience of duty free shop service all appeared to be positive effect on customer satisfaction; at the same time, only tangibles, responsiveness, empathy, assurance, and price benefits positively affected customer trust. Secondly, customer satisfaction and trust that are the components of the relationship quality appeared to be positive effect on customer loyalty. Thirdly, customers' satisfaction was found to play a full mediating role effect among all of the service quality factors with customer loyalty; however, customer trust was found to have the mediating effects only with tangibles, empathy, assurance, and price benefits. Fourthly, we found a difference between how service quality influences relationship quality and how service quality influences customer loyalty as a function of different nationality. As a result, it appeared that price benefits and IT convenience affected customer satisfaction more among Koreans than among Chinese. Finally, it appeared that customer satisfaction and trust affected customer loyalty more among Chinese than among Koreans. Conclusions - The results of this study contribute to the theoretical knowledge, but also provide strategic alternatives to enhance differentiation, international competence of enterprises led by duty free shop and service quality improvement and customer loyalty of enterprises are drawn as a foundation for constructing international customer relationship in future global era.
Abstract
Purpose - This study's aims are to examine the effects of airline service quality on brand image, brand attitude and reuse intention and the mediating roles of brand image and brand attitude in the relationship between airline service quality and reuse intention. Research design, data and methodology - A total of 500 questionnaire copies were distributed and 474 were used for the empirical study after excluding some empirical inappropriate or unusable ones. To analyze the collected data, the SPSS/WIN 22.0 statistical package was used. Results - The result of analysis showed that all the intangible, tangible and human elements of the airline service quality positively influenced on brand image and brand attitude and did not directly influence on reuse intention. However, brand image and brand attitude played mediating roles in the relationship between all the service quality elements and reuse intention. Conclusions - This means that airlines need to develop service quality, which is differentiated and provides special feelings for customers and work out improvement strategies for positive brand images and attitudes, since customers choose and reuse airlines, based on brand images and attitudes, which are perceived and formed through the experience of airline service quality and word of mouth.
Abstract
Purpose - The study was AI as exploratory study on artificial intelligence (AI) shopping information services, to explore the possibility of a new business of the distribution industry. For research, we compare to IBM of consumer awareness surveys an AI shopping information service for retailing channel and target goods group. Finally, we present to service scenario for distribution service using AI. Research design, data, and methodology - First, to identify possible the success of the information service shopping using AI, AI technology for the consumer is very important for the acceptance of judgement. Therefore, we explored the possibility of AI information service for business as a shopping. The experimental data were used to interpret the meaning of the relevant literature and the IBM Institute of Business Value (IBV) Report 2015. This research is based on the use of a technical acceptance model (TAM) to determine whether the consumer would adopt the 'AI shopping information service' technology. Step 1 of the process assumes that the consumer adopts AI technology. In step 2, consumers find their preference channels and goods targeted at them as per their preferences. Finally Step 3, we present scenario for 'AI shopping information service' based on the results of Step 1 and 2. Results - Consumers have expressed their high interests in the new shopping information services, especially the on/off line distribution channels can use shopping information to increase the efficiency in provision of goods. Digital channel (such as SNS, online shopping etc.) is especially high value goods such as cars, furniture, and home appliances by displaying it to an appropriate product group. Conclusions - The study reveals the potential for the use of new business models such as 'AI shopping information service' by the distribution industry. We present seven scenario related AI application refer from IBM suggestion, and the findings would enable the distribution industry to approach target consumers with their products, especially high value goods. 'Shopping advisor' is considered to the most effective. In order to apply to the other field of the distribution industry business, which utilizes AI technology, it should be accompanied by additional empirical data analysis should be undertaken.
Abstract
Purpose - Previous studies have not paid attention to pride type and effort type when consumers feel pride. In the present paper, the pride was divided into the two types such as hubristic pride and authentic pride. The causes attributed to achieve the goals when consumers achieved their personal goals, which could induce their pride were divided into trait, special effort, and universal effort, gratitude. This research attempted to investigate the mediation role of self-reward deservingness in finding the differences of inclination to indulgent consumption among the traits or special effort, the universal effort, and other's help. Research design, data, and methodology - In the empirical study, 'general flour food restaurants, Kimbabchunkuk, Edya, etc.' and 'VIPS, Outback, Starbucks, etc.' were taken as the two groups of subjects as empirical brand goods since they presented good contrast with each other. The single-factor design between subjects was adopted in this study by classifying the causes attributable to achieving the pre-goals of consumers into 4 categories: one attributable to trait; one attributable to special effort; one attributable to universal effort; one attributable to other's help. Results - The outcomes from the empirical analysis are as followings. First, the consumers who attributed to trait or special effort for achieving their personal goals in advance turned out to show stronger inclination toward direct indulgent consumption than those who attributed to universal effort or other's help for achieving the goals, without regard to self-reward deservingness. Second, those consumers who attributed to special effort for achieving their personal goals in advance revealed stronger inclination toward indulgent consumption with mediation of self-reward deservingness than those who attributed to trait or universal effort. And those who attributed to special effort or trait for achieving the goals revealed stronger inclination toward the consumption with the mediation of the deservingness than those who attributed to other's help. Conclusions - The present study is contributing to the progress of theories concerning hubris pride, authentic pride, and indulgent consumption. Marketing managers should endeavor to find pride type consumers felt according the causes attributed to for achieving important goals in advance, and make an efforts to develop messages that could appeal to the pride type.