• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.587-597
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• 2021

This study investigates the nexus among the South Asian economies. Effects of shocks in the equity market of one country on the equity market of the other country are examined. For empirical analysis, the time series monthly data is used for the period from February 2013 to August 2019. The study focuses on the four larger economies of the region, namely, India, Bangladesh, Pakistan, and Sri Lanka. To investigate for asymmetric effects of positive and negative shocks, EGARCH model is used. The findings show the mix nature of the spillovers between the various pairs of countries. The equity market of Pakistan has two-way spillover effects with the equity market of Bangladesh, but has no association with the equity markets of India and Sri Lanka. The volatility in the equity market of India significantly influences the volatility of the financial markets of Bangladesh and Sri Lanka. Similarly, the capital market of Sri Lanka has a negative association with the equity market of India as well as Bangladesh, but does not affect the equity market of any other country. These findings validate the argument in the literature that geographic location influences the nexus among equity markets. The findings are important for policy-makers and investors.

• Asia-Pacific Journal of Business
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• v.2 no.1
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• pp.23-48
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• 2011

Generally, higher brand equity ends up with higher market share and higher profitability. However, superior brand equity does not guarantee the success in the market. That is, consumer choice is closely related to brand equity but we need more than brand equity to explain this complex phenomenon. We adopt the customer equity concepts: value equity, brand equity, and retention equity. By incorporating value equity and retention equity into customer equity, it is possible to avoid the problems of using the brand equity only. In the paper, we apply this customer equity concepts to cellular phone and investigate the effects of antecedent variables such as exposure, knowledge, positive experience and negative experience on the components of customer equity. In addition, as surrogate measure of customer lifetime value, the weighted measure of purchase intention, consideration set inclusion, and next purchase is used as dependent variable. We estimate the effects of components of customer equity at the brand level and aggregate level using SURE model. Estimation results show that Apple has currently low market share but has high future potentials and Korean firms have currently high market share but has rather low future potentials.

• Journal of the Korean Society of Clothing and Textiles
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• v.23 no.8
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• pp.1075-1085
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• 1999

Brand equity is the added value endowed by the brand to the product. This concept born in the 1980's has aroused intense interest among market managers and business strategists from a wide variety of industries. Brand equity can be approached in different perspectives according to the motivations and the objectives of the studies. Consumer-based brand equity is examined internally by consumers' cognition and feeling and externally by consume behavior in the market By analyzing the relationship between them we can understand how brand value is made in the mind of consumers and how it is converted into the consumer behavior,. The brand is an especially important extrinsic cue in clothing products and the apparel industry has higher brand equity when it is actually compared with the brand equity of many other industries measured as a financial asset. Therefore the purpose of this study was to find out brand value of clothing products through clothing brand equity and to understand consumer behavior of the brand. And so we focused in consumer-based brand equity. For the empirical study three brands that are predicted to have different level of brand equity were selected based on prices and market shares of the brands. As the result the consumer-based brand equity is composed of emotional and cognitive dimensions and each dimension has several sub-dimensions. These diverse dimensions of brand equity bring about differences in consumers' purchase behavior market share and price premium of brands.

• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.179-211
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• 1996

This study examines whether trading mechanisms or market microstructures of markets have an effect on the integration issue of the international equity market. If the international equity market is integrated, identical stocks listed on different international stock exchanges should have the same rates of return, the same characteristics of stock price behavior and similar distributions of return. If different market microstructures, or trading mechanisms cause differences in characteristics of stock price behavior, those can lead to different rates of return because of different liquidity risk for the same stocks between markets. This study proposes international asset pricing with liquidity risk related to trading mechanisms. Systematic risk by itself cannot predict the sign of expected rate of return difference for the same stocks between international markets. Liquidity risk factors related to market microstructure provide explanations for the sign of rate of return differences between markets, However, liquidity risk factors related to market microstructure do not have a significant effect on the rate of return differences and sensitivity of return differences between markets, Trading mechanisms or market microstructures might not have a significant effect on the interpretation of the international equity market integration studies, if trading volume or other factors are controlled.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.843-854
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• 2020

The present study aims to analyze factors of brand equity in the retail stores in Vietnam; to recognize sub-dimensions connected with the forms of brand equity and thereby study the extent of the relationship among bases of market segmentation and brand equity. The present research made a collection of data by conducting a preliminary study. Responses were collected from the customers through a structured questionnaire to buy goods and services from the retail store in Vietnam. The sample size selected for the study was 196. The study applied various statistical tools, namely, Cronbach's Alpha for reliability checking, correlation and regression statistics with the support of SPSS Software. The brand association is treated as a vital determinant of brand equity that significantly influences the bases of market segmentation. Further, the study also recognized the fact that the majority of consumers who prefer to buy from retail stores are young and in the age-group of 18-24 years. The present study made an initial attempt to study the relationship among bases of market segmentation with the factors related to brand equity; thereby to offer a novel conceptual framework designed for retail stores in Vietnam for brand positioning.

• Journal of Distribution Science
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• v.13 no.7
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• pp.85-90
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• 2015

Purpose - Global trends play a part to change the structure of the fashion industry. In particular, companies attempting to conduct innovative marketing centering on such products as SPA brands are growing into global companies. SPA stands for "Specialty Store Retailer of Private Label Apparel", meaning its activities are fully integrated from manufacturing through sales, including material procurement design, product, distribution, inventory management, and final sales. For this reason, more understanding of individual corporate profitability is very sensitive to consumer's attitudinal changes. The effects that corporate marketing activities on customer lifetime value through brand attitude were analyzed based on a structural equation model. Rust suggested value equity, brand equity, and relationship equity as customer equity driver. The study examines Chinese consumer because China is the fastest growing fashion market in the world. Research design, data, and methodology - The survey targeted Chinese college student age 20s. Only respondents who had purchased SPA brands in the past year were included for this research. A total of 303, except for 47 missing data of 350 distributed questionnaires were included in this research. The questionnaire is consists of six part to measure value, brand, relationship equity, attitude toward brand, purchase intention and demographic characteristics. This research conducted exploratory factor analysis and reliability test. To verify research hypotheses, structural equation model test was conducted. As for customer equity, diversified models in consideration of the scope of acquisition data, a method of collection of data, influencing factor, and predictability were suggested based on a net present value model. However, the history of customer equity study is relatively short, and sufficient empirical analyses have not been conducted, so more integrated analysis is required. In this study, the concept of driver suggested by Rust was applied to figure out the effects that consumer's attitude has on customer equity. The customer equity driver suggested by them consists of brand equity, value equity, and relationship equity. Results - This study reveals that value equity and brand equity have a positive influence on relationship equity. And, relationship equity has a positive influence on purchase intention through brand attitude. However, value equity and brand equity do not influence on brand attitude. Conclusion - The results of this research generated following implications. First, SPA brands need to take advantage of their value equity such as perceived low price and up-to-date fashion style to attract Chinese young consumer. Second, strong brand equity promises dominants position in the competitive market. As Chinese fashion market grows rapidly, SPA brands can consider branding strategy such as flagship store and celebrity marketing enhancing brand image. Third, the core concept of customer equity strategy is to maintain a relationship with their expecting and existing customers. The relationship equity is built by brand equity and value equity. When SPA brands serves product and service meet with individual customers, customers have intimacy to the brands.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.741-749
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• 2021

The research paper endeavors to investigate the presence of seasonal anomalies in the Indian equity market. It also aims to verify the notion that equity markets are for long-term investors. The study employs daily index data of Sensex, Bombay Stock Exchange, to understand its volatility for the period ranging from January 2001 to August 2020. To analyze the seasonal effects in the stock market of India, multiple regression techniques along with descriptive analysis, graphical analysis and various statistical tests are used. The study also employs the rolling returns at different time intervals in order to understand the underlying risks and volatility involved in equity returns. The results from the analysis reveal that daily and monthly seasonality is not present in Sensex returns i.e., investors cannot earn abnormal returns by timing their investment decisions. Hence, the major finding of this study is that the Indian stock market performance is random, and the returns are efficient. The other major conclusion of the research is that the equity returns are profitable in the long run providing investors a hope that they can make gains and compensate for the loss in one period by a superior performance in some other periods.

• Knowledge Management Research
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• v.10 no.3
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• pp.81-98
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• 2009

The purpose of this study is to investigate the effect of Hallyu(Korean Wave) and marketing mix elements on brand equity based on the Korean cosmetic brand in China Market. It will provide the constructive suggestions to build Korea brand equity in overseas market through empirical research. At the beginning of this study, in order to analyze the effect of Hallyu and marketing mix elements on brand equity, we studied literature reviews on relationships between brand equity and marketing mix elements, culture, Hallyu and its influences on marketing. And then, we set up the research model, hypotheses and variables. The chosen variables to investigate are price premium, price deals, store image, distribution intensity, advertising, Hallyu, perceived quality, brand loyalty, brand awareness/associations, and brand equity. The results of the study reveal that Hallyu and advertising had a positive influence on perceived quality, brand loyalty and brand awareness/associations, but the other marketing elements had partial influence. All of perceived quality, brand loyalty and brand awareness/associations showed positive effects on brand equity. Additionally, theoretical and managerial implications of brand equity and Hallyu based on the results of this study are discussed. And limitations and future research issues are also presented.

• Asia Marketing Journal
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• v.24 no.4
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• pp.178-189
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• 2023

As the necessity of customer relationship management (CRM) increases, measuring the performance of CRM have been actively discussed. Customer equity (CE) is regarded as an appropriate indicator for evaluating the outcomes of marketing activities. There are three drivers of CE: brand, value, and relationship equity. This study aims to investigate the impact of three drivers on customer satisfaction. Market competition is an environmental factor that affects the effectiveness of CRM. This study divides target firms into leaders and followers. This study found that the differential impact of CE drivers on customer satisfaction depends on the firm's status (leader or follower). Specifically, the brand equity driver significantly impacts the leader firm. However, the impacts of value and relationship equity drivers are bigger for follower firms. The above results suggest that firms need to build CRM strategies that consider the competitive situation of the market and their position.

• Journal of Distribution Science
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• v.21 no.6
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• pp.21-29
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• 2023

Purpose: Research on equity carve-outs is necessary because the market has realized that they lead to holding company discounts by double counting, which can only be observed in the Korean market. Considering the differences in the SSG.com equity carve-out compared to previous cases in terms of business strategy, this study contributes to the literature by examining the effects on shareholder value in the Korean distribution industry. Research design, data, and methodology: This study investigated literature, analyst reports, and news articles to examine the causes of holding company discounts and analyze the SSG.com equity carve-out. Results: The monopoly of holding companies' listing premiums is the main cause underlying holding company discounts from equity carve-outs. Protections for minority shareholder value are challenging owing to the complexity of the process of acquiring rights, the short exercise period, and additional costs. Therefore, the motivation for equity carve-outs should be to increase overall shareholder value. Conclusion: By analyzing the reasons for holding company discounts in the Korean distribution industry, this study provides recommendations for improving shareholder value. Moreover, it contributes to the maturation of the Korean capital market by promoting a discussion on the revision of equity carve-outs.