• Journal of the Korean Society of Costume
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• v.66 no.8
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• pp.109-122
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• 2016

This study is to explore the ways to increase the export performance of start-up companies, as opportunities are rising along with more companies entering the global market. Thus the study analyzed the factors affecting export performance of the start-up company by mainly looking at the international marketing capabilities of enterprises type of marketing strategy and internal environmental capabilities. The following were derived as factors for marketing 4P strategy: innovation of product, flexibility of export price, differentiation of distribution channels, diversity of promotional activities, and positive-ness of promotion. For internal capabilities of enterprises, innovation of CEO, initiative of CEO, risk susceptibility of CEO, information power of export market, and information power of competitor were derived as factors. Two types of performances were considered for export performance, financial and non-financial. Among innovation of product and risk susceptibility of CEO the non-financial performance of export performance, and only differentiation of distribution channels of marketing 4p strategy the financial performance. It showed that since performance was different depending on the entrepreneurship of the CEO, only innovative products differentiated from small and medium enterprises. risk susceptibility of CEO increased export outlook by corporate acknowledgment and image, creation of potential customers, and financial performance affected only differentiation in distribution channel rather than entrepreneurial spirit, information power, or organizational flexibility because of short business career and insufficient period enough to gain trust. Therefore, start-up companies need to improve their non-financial export performance by increasing innovation of product and risk susceptibility of the CEO. The companies need to widen the differentiation of distribution channels in the financial export performance.

• Asia-Pacific Journal of Business
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• v.10 no.3
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• pp.143-151
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• 2019

Whether export-market prioritization is effective on financial performance is a controversial issue. Nevertheless, few studies have addressed this issue. The present study attempted to explicate the effects of exporters' market prioritization on their superior financial performance. Based prominently on the market-segmentation theory and the relationship-marketing theory, the current study developed propositions of whether export-market prioritization is economically reasonable. It is posited that export-market prioritization postively influences buyer satisfaction in a primary market; that export-market prioritization negatively affects on buyer satisfaction in a secondary market; that export market prioritization reduces costs in relation to export marketing and sales; that buyer satisfaction positively influences buyer loyalty for both buyers in primary markets and ones in secondary markets; that buyer loyalty positively influences share of wallet for both buyers in primary markets and ones in secondary markets; and that share of wallet positively influences sales per buyer for both buyers in primary markets and ones in secondary markets. Thus, exporters should identify suitable export-market segments and prioritize export markets. The present study suggested that exporters monitor market profitability, assess the quality of buyer information, and conduct selective organizational alignment in order to develop a prioritization strategy.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.5
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• pp.2870-2881
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• 2014

In this study, I empirically analyzed the factors affecting export performance with domestic ICT companies. I set up 3 variables - companies' factors, marketing factors and factors of export supporting system - as the factors affecting export performance, based on findings of precedent studies; and I set up non-financial performance as a dependent variable. As a result of analysis, I found out that companies' factors(market orientation of CEO, competitiveness in export, experience of export) and marketing factors(diversification of overseas market, barriers to marketing), among the variables affecting export performance, were the variables affecting non-financial performance, set up as the export performance; but the factors of awareness, availability and difficulty, set up as the detail factor among factors of export supporting system, do not affect non-financial performance.

• Journal of Korea Trade
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• v.26 no.4
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.33
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• pp.29-62
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• 2007

The object of this paper is to increase in domestic use of export factoring for small and medium trading companies. Factoring involves a process where a specialized firm assumes the responsibility for the administration and collection of account receivable for its clients. It can be considered a form of short term commercial financing based on selling of trade credit at a discount, or for a prescribed fee plus interest. The youngest and smallest businesses cannot receive working capital for account receivable for export from financial companies, while larger businesses tend to have less need for factoring services. Using export factoring provide a valuable improvement to cash flow and working capital position and can possibly contribute to small business growth and development. There are several suggestions for export factoring to activate in Korea. First, the number of factoring companies need to be enlarge to activate export factoring in trade and financial policies. Second, factoring companies have to perform public relations for trading companies to inform the export factoring system and its advantages. Third, government need to support the system of export factoring with legislation and financial instruments. Forth, trading companies need to be reformed credit inquiry system in terms of expenses and methods by government This paper has attempted to emphasize on export factoring for small and medium size exporting companies and deserves more research by academics, practitioners and trade policy makers.

• KDI Journal of Economic Policy
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• v.41 no.1
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• pp.1-14
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• 2019

This paper studies whether export diversification mitigated the negative effect of the global financial crisis on exports using the Korean case. Specifically, we use annual data on the exports of 24 Korean manufacturing industries from 2000 to 2016 and examine whether the negative effect of the crisis on exports was less prevalent in industries that were more diversified in terms of country and product. We also examine whether export competitiveness, as measured by the revealed comparative advantage index by industry, had a mitigating effect on trade during the crisis. In order to study these issues, we use panel regression with a fixed-effect model for 24 Korean manufacturing industries. From our empirical analysis, we find that country diversification weakened the negative impact of the global financial crisis on Korea's exports, whereas neither product diversification nor export competitiveness did so.

• International Commerce and Information Review
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• v.17 no.2
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• pp.123-150
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• 2015

The present study examined the moderating influences of firm type(B2B, B2C) on the relationships between SMEs' utilization of government export assistance programs, firm capabilities(marketing & technology capabilities) and export performances(financial and strategic performances). The results of regression analyses on 247 B2B and 137 B2C cases showed that the positive influence of utilization of export assistance programs on financial performance was greater for B2B than for B2C SMEs. This construct, however, had no influence on strategic performance for neither B2B nor B2C cases. Further, both marketing and technology capabilities have positive influences on each of financial and strategic performances. Marketing capability, however, had a greater influence on financial performance for B2C than for B2B SMEs. Technology capability had a greater influence on financial performance for B2B than for B2C SMEs. Implications, limitations, and future studies were also discussed.

• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.161-177
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• 2011

Nowadays, a capital flow and intimacy of financial system among countries have been increasing in global financial environment. So it is easily possible that the risk of some countries which are in financial crisis infects other countries in the world. A recent global financial crisis reminds countries in East Asia of advancing the financial cooperation as well as financial integration. Countries in East Asia agreed with the Chiang Mai Initiative to prevent a recurrence of financial crisis in East Asia. A bilateral swap arrangement of the CMI has several purposes in order to offer foreign currency liquidity against economic crisis, remove the opportunity cost of foreign exchange reserve, push ahead the financial integration, increase the export-import logistics and so on. This paper analyzes the effect of financial cooperation in East Asia on the export-import logistics with random effect estimation and fixed effect estimation. As a result, each of country in East Asia is able to increase almost 10.3% of the export-import logistics on average.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.37-43
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• 2019

The research aims to study the relationship between export performance and stock return of Vietnamese fishery companies. To conduct this study, quarterly data was collected for period from 2010-2018 of 13 fishery companies listing in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The export performance was measured by export intensity, export growth and export market coverage. In addition, interest rate, exchange rate, GDP, firm size, profitability, and financial leverage were considered as the control variables in the research model. Panel data analysis with Generalized Least Squares model was employed to estimate the predictive regression. The findings indicated that export intensity and export growth have a significant and positive relationship with stock returns. However, export market coverage has not a significant relationship with stock return at the 0.05 level. Profitability, financial leverage, and exchange rate have a positive relationship, while interest rate and GDP have no relation to stock return at the 0.05 significance level. The findings imply that investors should consider the export intensity instead of export growth and export market coverage as selecting stock of fishery exports firms to invest; managers should increase export intensity to increase company's stock price or firm market value.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.177-194
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• 2013

According to the 2013 statistics, the small/medium-sized enterprises (SMEs) accounted for 99.9% of the Korean economy with 87.8% of employment. This simple figures also indicate SMEs export extension is a key task for the national economy stimulation and job creation. The SMEs export plunge has been affected by the European financial turbulence, US financial instability, developing countries like China entering foreign markets, a weak yen, etc. EXIM Bank, in this context, will need to take a more proactive attitude to provide trade finance by, for example, reviewing the business feasibility for SMEs with a lower credit rank or investigating importers' credit status, etc. Moreover EXIM Bank provides factoring service mostly to large companies and should lower its threshold for service provision to SMEs. Finally EXIM Bank should play more than a primary forfeiting market entity. It also needs to facilitate the secondary forfeiting market.