• Journal of Korea Port Economic Association
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• v.35 no.4
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• pp.1-16
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• 2019

The purpose of this study is to Analyze the problems that container shipping companies exist through the commercialization of container shipping for Non-Arctic countries and the opportunity factors for the transport of the Arctic shipping to improve cooperation cross-border relation Arctic policy and the use of transport. In order to design a hierarchy analysis method study model, four high and 17 low factors were extracted by designing a hierarchy analysis method study model based on results by prior study and in-depth interview. The first of the higher factors is the internal strength of assessing the value of the Arctic, the will and capabilities of the shipping companies in creating new markets with the vision and goals of the shipping companies. Second, the internal constraints associated with the shipping companies advance to the NSR mean the negative factors for the entry into the NSR and the internal weaknesses that cause the shipping companies capacity limitations. Third, the economic benefits from the use of NSR are external factor for shipping companies in cooperation with the future economic value of the Arctic and with respect to Arctic sea and Arctic advance and development from Arctic coastal countries. Finally, external pre-emptive tasks means to respond to use NSR by external restrictions on transport to prepare the possibility of severe weather conditions, the customs policy change of coastal countries.

• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.109-141
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• 2006

The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

• Korea and Global Affairs
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• v.2 no.1
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• pp.113-136
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• 2018

The purpose of this study is to start from the recognition of the problem of why the sanctions of the international community could not indicate a great effect. In order to find answers to this question, this study focuses on China's aid to North Korea and analyzes the determinants of support for North Korea. Despite a tough international community's sanctions against North Korea, China has taken a dual stance on sanctions and support for North Korea. As for this dual attitude of China, this study approaches the internal and external situation of the support to the North with the rationale for the Two-level game theory. China's sanction against North Korea could be divided into two categories: external factors and domestic factors. These factors include strengthening supremacy in China, checking the US, playing a responsible role in China, securing resources in North Korea, sustaining stable growth in China, maintaining the legitimacy of China's socialist political system, and spreading the Beijing consensus. Based on the analysis of these factors, it could be expected that China's aid for North Korea will be official, informal, or continuous, and it will be difficult for the North to stop supporting North Korea or deteriorating North Korea- China relations.

• International Area Studies Review
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• v.22 no.2
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• pp.121-138
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• 2018

This study aims to suggest effective management performances of nonprofit arts organizations among competitive environment. To examine the factors which affect the performance of nonprofit performing arts organizations such as external environment, cultural capital, orchestra characters and government grants, this study analyzed the data of 990 tax forms of the US Internal Revenue Service(IRS) of the top 73 symphony orchestras and government sources in USA. Independent variables are measured as sponsorship amount which is the biggest part of orchestras' income, and ticket sales which is profit of inherent business purpose. As a result, the performance of the orchestra is affected positively by the income and influenced by the orchestras' characteristics including age, size, and conductor. Also government grants to the orchestras are essential for organizations to sustain their business. But, there are two different sides on these effects that small to medium groups are influenced by crowding in effect and bigger groups are more likely conducted by business overview. Lastly, cultural capital is no significant relationships to orchestras' management performances. This scope of the study is limited to American symphony orchestras; however, this study is significant in that empirical analysis on nonprofit performing arts organizations from an economic view point and contribute on other nonprofit arts organizations to develop their strategic plan for sustainable business.

• Journal of Distribution Science
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• v.10 no.2
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• pp.7-17
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• 2012

The aim of this study is to empirically explore micro and macroeconomic factors affecting the Pakistani sugar industries and searching the energy potential of this industry, through the survey of literature. The empirical part has been explored by employing Vector Autoregression (VAR), Granger Causality tests and simultaneous equation models through quarterly data for the period of 1991q2-2008q4. The study also aims to devise policies for the development of sugar industries and identify its growing importance for the energy sector of Pakistan. Empirical tests applied on the domestic prices of sugar, domestic interest rates, and exchange rate, productive capacities of sugar mills, per capita income, world sugar prices on cultivable area and sugar production reveal very useful results. Results reveal an improvement of productive capacity of the sugar mills of Pakistan on account of increasing crushing capacity of this sector. Negative effect of rising wholesale prices on the harvesting area was also observed. Profit earnings of the sugar mills significantly increase with the rise of sugar prices but the system does not exist for the farming community to share the rising prices of sugar. The models indicate positive and significant effect of local prices of sugar on its volume of import. Another of the findings of this study positively relates the local sugar markets with the international prices of sugar. Additionally, the causality tests results reveal exchange rate, harvesting area and overall output of sugarcane to have significant effects on the local prices of sugar. Similarly, import of sugar, interest rate, per capita consumption of sugar, per capita national income and the international prices of sugar also significantly affect currency exchange rate of Pakistani rupee in terms of US$. The study also finds sugar as an essential and basic necessity of the Pakistani consumers. That is why there are no significant income and price effects on the per capita consumption of sugar in Pakistan. All the empirical methods reiterate the relationship of variables. Economic policy makers are recommended to improve governance and management in the production, stock taking, internal and external trading and distribution of sugar in Pakistan using bumper crop policies. Macroeconomic variables such as interest rate, exchange rate per capita income and consumption are closely connected with the production and distribution of sugar in Pakistan. The cartelized role of the sugar industries should also be examined by further studies. There is need to further explore sugar sector of Pakistan with the perspective of energy generation through this sector; cartelized sugar markets in Pakistan and many more other dimensions of this sector. Exact appraisal of sugar industries for energy generation can be done appropriately by the experts from applied sciences.

• Asia pacific journal of information systems
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• v.17 no.3
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• pp.1-24
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• 2007

With the development of information technology (IT), various information systems (IS) such as Web-based systems and mobile systems have appeared utilizing different technologies. However, recent studies on IS use and user satisfaction rarely account for technological differences among IS and environmental characteristics where IS are intended to be used. The purpose of this research is to investigate the determinants of the use of Web-based ticketing systems for cultural activities and to empirically validate their relationships. Environmental psychology suggests that human beings respond to external stimuli from environments with their emotions, and their emotional states influence human actions, e.g., IS use in this research. Applying environmental psychology to the use of Web-based systems in the culture and entertainment industry, we propose that web site characteristics first influence a user's internal state of mind (i.e., flow) and then the flow state influences the IS use. Studies related to the state of flow collectively affirm the key role played by the flow construct in shaping individual attitudes and behaviors toward IS. Users' flow states are captured by their shopping enjoyment, perceived behavioral control, and the level of concentration on the IS use. Referring to social presence theory, we have included such web site characteristics as content quality, context of web site, and community quality. In our research model, a second order construct is utilized to represent web site quality, because flow theory suggests that holistic experiences with web-based systems (rather than individual characteristics of the web site) are important in explaining the IS use. Further, we have included trust as another important factor influencing the IS use since business transactions on the web encompass higher uncertainty comparing to offline transactions. In order to test our hypotheses, we have conducted an online survey which results in 1,141 valid responses in the final sample. The data were collected from respondents who have experiences in Internet ticketing systems. Although it was a convenient sample, the sample represents a wide variety of user demographics. Validity and reliability of the research instrument were tested and research hypotheses were examined using PLS Graph 3.0. The results indicate that web site characteristics significantly influence the level of user concentration, user's enjoyment in shopping, and perceived behavioral control. Further, the use of Internet ticketing systems is influenced by users' flow states and trust in the web channel. User satisfaction is turned out to be affected by the use of Internet ticketing systems. Unlike extant research on the relationship between web site characteristics and its use, our study has found that, in the culture and entertainment industry, the impact of web site characteristics on IS use is mediated by a user's flow state. This finding has a practical implication that web site design should include as many features that enhance shopping enjoyment and concentration. Other practical implications of these findings and future research implications are also discussed.

• Journal of Korea Port Economic Association
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• v.28 no.1
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• pp.143-157
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• 2012

By strengthening the market control and expanding the networks, providers of global logistics are expanding their service scope. The warehouses connect networks to internal and external warehouses by using logistics providers. The paper focuses on analyzing the efficiency of warehouses on each district. Therefore, the study classifies the factors which specify the efficiency of a total logistics of warehouse industry and warehouses' employees and the number of warehouses on district. Furthermore, the most recently published reports by National Center for Statistics in 2012 was used in order to guarantee credibility of the study. This study utilizes five years of materials, which are from 2005 to 2009. By applying SBM (Slack Based Measure), DEA Window model, and the Malmquist productivity model, the trend in efficiency and stableness were analyzed. The principal purpose of the paper is evaluating the efficiency. Also, analyzing its determinants and illustrating a long-term relationship between the regional warehouses and annual turnover of the warehouses were used as output measures. In addition, the number of warehouses of each region, employees, warehouses equipments, and the Logistics Warehouses Providers were used as input measurements. As a result, Malmquist productivity model and annual stableness has shown a continuous increasing. Ultimately, to be approved as product of Korea, a new stratiges that meet the standards and Rules of Origins by FTA should be developed. Therefore, there must be a development that takes regional characteristics into consideration.

• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.37-49
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• 2011

By strengthening the market control and expanding the networks, providers of global logistics are expanding their service scope. E-logistics connects e-business to internal and external information system by using WMS, TMS, and OMS. The paper focuses on analyzing the efficiency of the tope fifty Global Logistics Providers. Therefore, the study classifies the factors which specify the efficiency of a total logistics industry and verified its firmness. Furthermore, the most recently published reports by Logistics Quarterly and Armstrong Association in 2011 was used in order to guarantee credibility of the study. This study utilizes three years of materials, from 2007, 2008, 2009 on publish 2010, for scope period for analysis. By applying SBM (Slack Based Measure) & the DEA Window model, the trend in efficiency and stableness was analyzed. Consequently, the main purpose of the paper is evaluating the efficiency. Also, analyzing its determinants and illustrating a long-term relationship between the annual turnover and major shippers was used as output measures. In addition, the number of information system operations, the grade of information systems, and employee of Logistics Providers was used as input measures.

• Journal of Global Scholars of Marketing Science
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• v.17 no.1
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• pp.1-21
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• 2007

This study seeks to understand the effects of information search activities and brand image on the hotel patronage intention based on the theory of reasoned action. First, it investigates the influence of attitude formed about hotel on the patronage intention. Second, it seeks to develope an alternative to TRA by looking into the effects of hotel image variable on hotel-specific attitude and patronage intention and attempts to substantiate the role of brand image as a substitute to subjective norm to increase the TRA's explanatory power. The main finding of this study are as follow; First, out of the three components of cognitive evaluation of hotel (human service, physical service and information service), human and physicial services were found to have significant influence on patronage intention. Brand image was found to exert notable influence on attitude toward hotel as well as patronage intention. Remarkably, the finding that brand image positively enhanced the TRA model sheds new strategic insight as to the usefulness of brand image as an alternative to overcome the TRA's limitation stemming from subjective norm. Third, it was learned that study subjects gave more weight to external information sources such as TV, radio, newspaper, magazine, and internet than to internal sources such as individual knowledge, experience or self image.

• Management & Information Systems Review
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• v.36 no.2
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• pp.277-306
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• 2017

Most past studies on the Critical Success Factors of Company Informatization focused on the completeness of Informatization and its financial effect, and there have not been enough studies on whether a company's management strategies can be supported by establishing Informatization direction. This implies that there must be verification on the followings; whether Informatization focuses on steering the implementation of management strategies, what correlation there are between major mechanism factors and Informatization performance. This also implies that there must be a new study to re-interpret the existing success factors of Informatization into strategic management paradigm. The purpose of this study is to empirically verify the influence of subject, environment, resource, and mechanism factors on informatization achievement, and to analyze the differences in influence of informatization success factors on informatization achievement depending on domestic large corporations and SMEs. This study presented the verification results for seven research hypotheses. It was confirmed through empirical analysis that securing resource factor was significant in informatization performance and that all sub-factors of learning mechanism and coordination mechanism were also significant in enterprise informatization achievement. In addition, it was confirmed through the control effect analysis depending on enterprise size that the differences in informatization performance of large corporations and SMEs are due to support environment factor, learning mechanism, and selection mechanism. The implications of this study are as follows: First, the significance of mechanism factors such as learning, internal coordination, and external coordination are relatively higher than other factors in informatization achievement. Secondly, informatization success factors that SMEs must focus on achieving are presented by analyzing the differences on informatization achievement of large corporations and SMEs. Third, since empirical research for informatization success mechanism factors not covered empirically in the prior research was directly progressed, it is thought that it could provide a comprehensive understanding for mechanism factors. In addition, this study is thought to provide a practical contribution that can be applied to other industrial areas and enterprises.