• Journal of Global Scholars of Marketing Science
• /
• v.13
• /
• pp.89-111
• /
• 2004

The authors address the effectiveness of the composite brand extension In the context of international brand alliance. In composite brand extension, four combinations of 4 domestic brands and one internationally well-known brand as header and modifier brands are used as the brand names for four experimental products. The results of analyses reveal that (1) degrees of brand attribute transferability between header and composite brands, and (2) the impact of header and modifier brands on a composite brand appear to be decreasing when the distance of product categories between header and modifier brands are farther. In addition, the authors demonstrate that the fitness between constituent brands and composite brands tends to have more influences on consumers' evaluation of a composite brand than does the complementarity when the distance of product categories between header and modifier brands are farther. Some implications and future research directions are also discussed.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.9 no.3
• /
• pp.115-124
• /
• 2021

Purpose - An empirical analysis of various opinions of experts to build Busan's global city image. Based on this, we provide strategy establishment metrics using opportunities, strengths, and threats to build Busan's global city image. Research design, data and methodology - SWOT-AHP analysis are used in terms of methodology, and this study is based on experts' reviews and answers. In addition, AHP analysis is performed based on SWOT analysis to derive the result values for important priority factors. Result - As a result of the prioritization of SWOT-AHP results, a matrix of strategic development directions for Busan city brand building can be presented. As a result of the composite weighting, the factors related to opportunity were ranked as important. In addition, matrices on SO strategy, ST strategy, WO strategy, and WT strategy were derived. Conclusion - This study is an interdisciplinary study from the economic aspect, international management and international marketing aspect, administrative aspect, and architectural engineering aspect. Through this, the image of a global city of Busan that can overcome COVID-19 and cope with the 4th industry in the future will be built, and Busan will be able to build a global international city image by commercially attracting the 2030 World Expo.

• International Commerce and Information Review
• /
• v.19 no.2
• /
• pp.193-212
• /
• 2017

In order to evaluate the evaluation of bi-national products, this study was classified according to product category similarity. In addition, by comparing the types of stores, we tried to suggest alternatives that can be practically applied to companies producing composite origin products. For this purpose, this study is applied to the analysis of bi-national product by product categories, such as public luxury, public luxury, private luxury, and private necessity, based on the psychological bases of consumers. The types of stores are divided into department store/direct store, outlet/discount store to elaborate measurement. As a result of the verification, it was found that brand evaluation and store evaluation had interactive effects depending on product type and store type. Specifically, in the case of public luxury goods, outlets/discount stores in both brand evaluation and store evaluation showed positive evaluation than department store/direct store. In the case of private necessity, there was no significant difference in brand evaluation, but in store evaluation, department store/direct store was confirmed that they had a relatively positive evaluation than outlets/discount stores. As a result, it was verified that consumers' evaluations can be changed according to the type of sales store for each product.

• Journal of Distribution Science
• /
• v.13 no.9
• /
• pp.37-45
• /
• 2015

Purpose - This paper's aim is to investigate whether or not gross profitability explains the cross-sectional variation of the stock returns in the Korean stock market. Gross profitability is an alternative profitability measure proposed by Novy-Marx in 2013 to predict cross-sectional variation of stock returns in the US. He shows that the gross profitability adds explanatory power to the Fama-French 3 factor model. Interestingly, gross profitability is negatively correlated with the book-to-market ratio. By confirming the gross profitability premium in the Korean stock market, we may provide some implications regarding the well-known value premium. In addition, our empirical results may provide opportunities for the fund distribution industry to promote brand new styles of funds. Research design, data, and methodology - For our empirical analysis, we collect monthly market prices of all the companies listed on the Korea Composite Stock Price Index (KOSPI) of the Korea Exchanges (KRX). Our sample period covers July1994 to December2014. The data from the company financial statementsare provided by the financial information company WISEfn. First, using Fama-Macbeth cross-sectional regression, we investigate the relation between gross profitability and stock return performance. For robustness in analyzing the performance of the gross profitability strategy, we consider value weighted portfolio returns as well as equally weighted portfolio returns. Next, using Fama-French 3 factor models, we examine whether or not the gross profitability strategy generates excess returns when firmsize and the book-to-market ratio are controlled. Finally, we analyze the effect of firm size and the book-to-market ratio on the gross profitability strategy. Results - First, through the Fama-MacBeth cross-sectional regression, we show that gross profitability has almost the same explanatory power as the book-to-market ratio in explaining the cross-sectional variation of the Korean stock market. Second, we find evidence that gross profitability is a statistically significant variable for explaining cross-sectional stock returns when the size and the value effect are controlled. Third, we show that gross profitability, which is positively correlated with stock returns and firm size, is negatively correlated with the book-to-market ratio. From the perspective of portfolio management, our results imply that since the gross profitability strategy is a distinctive growth strategy, value strategies can be improved by hedging with the gross profitability strategy. Conclusions - Our empirical results confirm the existence of a gross profitability premium in the Korean stock market. From the perspective of the fund distribution industry, the gross profitability portfolio is worthy of attention. Since the value strategy portfolio returns are negatively correlated with the gross profitability strategy portfolio returns, by mixing both portfolios, investors could be better off without additional risk. However, the profitable firms are dissimilar from the value firms (high book-to-market ratio firms); therefore, an alternative factor model including gross profitability may help us understand the economic implications of the well-known anomalies such as value premium, momentum, and low volatility. We reserve these topics for future research.

• International Journal of Highway Engineering
• /
• v.6 no.2 s.20
• /
• pp.15-24
• /
• 2004

Oxidation causes increment of the quantity of large molecular size or LMS in asphalt and is a major reason for hardening of asphalt binder. An extended service life of pavement on a road is expected by reducing oxidation of binder. Oxidation of binder occurs during hot mixing with aggregates before placement on road and then during in-service after the asphalt pavement is constructed. Quantitative increase of LMS as result of aging after RTFO and PAV was analyzed based on the data from high-pressure gel-permeation chromatography (HP-GPC). Polymer modified asphalt (PMA) after RTFO procedure showed 20-30% increment in LMS and then after PAV procedure more than twice, although the percentage of increment was different according to asphalt brand and grade. The PMAs containing LDPE or SBS, which showed a great mechanical property improvement in previous studies, were selected for characterizing PMA aging In this study. Considerably reduced increment of LMS was observed from the PMA containing LDPE after RTFO and PAV procedures. The GPC result showing the binder with less LMS increment means that the asphalt while being mixed with LDPE was aged less during the aging treatment. The dispersed particle of LDPE in asphalt cement seems to disturb oxidative aging reaction and evaporation.