• Journal of Korea Trade
• /
• 제24권8호
• /
• pp.121-132
• /
• 2020

Purpose - The principle aim of this study is to further investigate the relationship between market diversity and export performance. We examine the benefits and costs of geographic market diversity regarding the number of countries exported to by firms on their export performance. Based on the financial risk reduction model and the entry costs model, we propose a way to incorporate the costs and benefits aspects of market diversity. Design/methodology - To empirically investigate our research question, the curvilinear relationship between market diversity and export performance, we built a secondary panel data set between 2015 and 2019, containing 17,863 observations of Korean exporting companies. A generalized least squares panel estimator with fixed effects was employed to test the hypothesis, and the statistical package, Stata 14, was used. Findings - Our main findings are as follows: As market diversity increases, export performance increases because exporters can diversify and reduce financial risks in export markets. However, the relationship between the two does not grow. As it peaks, the entry costs increase due to the high market diversity, thereby outweighing the benefits, leading, eventually to decrease in the export performance. Consequently, there is an inverted U-shaped relationship between market diversity and export performance. Originality/value - In the export and trade literature, the impact of market diversity on export performance has not been addressed yet, despite the importance of this subject. Many scholars have assumed a positive linear relationship between the two, considering only the decrease in market risks as the number of overseas markets increases, without examining the increase in the entry and management costs. Therefore, our study contributes by providing a new perspective for analyzing the characteristics and outcomes of market diversity.

• Industrial Engineering and Management Systems
• /
• 제15권4호
• /
• pp.318-323
• /
• 2016

In the current study, factors affecting cheese brands products in grocery stores were evaluated with an emphasis on diversity. The sample data were collected from Noushad and Pegah Milk Industry in 2015 and data were extracted, reviewed, and analyzed from 435 grocery stores in Mashhad using seemingly unrelated regression model and particle swarm optimization algorithm. Results showed that optimum amount of Kalleh product diversity is higher than other competitors in the market, and Kalleh UF diversity is 100 to 250 grams, and Kalleh UF diversity with weight of 300 to 500 grams is more than other modes of diversity, and Kalleh brand must remove tin cheese from the market. Sabah Brand also should eliminate its glass and creamy diversity from market, UF diversity is mostly welcomed in market.

• 한국언론정보학보
• /
• 제51권
• /
• pp.136-155
• /
• 2010

미디어 다양성은 글로벌 시장에서의 경쟁이라는 '환상의 짝꿍'과 더불어 한국 미디어 정책을 규정하는 화두로 등장했다. 미국식 기능 행태주의가 주도하는 미디어 정책은 다양성을 시장경쟁, 소비주체의 자유로운 선택이라는 좁은 울타리에 가둔다. 이에 본 논문은 다양성 그 자체를 하나의 완결한 정책목표로 보는 시각에 근본적인 문제제기를 하고자 한다. 다양성이 미디어 정책 담론의 전면에 등장하는 계기를 한국의 중첩적 정치 경제 맥락 속에서 파악하면서, 본 논문은 기존 계량주의 다양성 연구를 비판적으로 분석한다. 나아가 미디어 다양성이 '측정의 과학'에 과도하게 집착해 탈정치화하는 경향을 주목하며 문화연구자들이 미디어 다양성을 보다 진보적으로 전취하기 위한 몇 가지 제안을 하고자 한다. 핵심적인 주장은 미디어 다양성은 시장의 경쟁과 미디어 상품의 다양화라는 신자유주의의 경제논리를 넘어서야 한다는 것이다. 비판적 문화연구자들은 미디어 다양성을 한국 민주주의의 심화라는 보다 큰 정치 프로젝트 속에서 미디어 공공성의 강화, 독립 대안 미디어에 대한 실질적 지원, 급진적 정체성의 정치학 등의 전략과 함께 고려해야 한다.

• 아태비즈니스연구
• /
• 제14권1호
• /
• pp.171-194
• /
• 2023

Purpose - This study starts with the question of whether the capital market is likely to give positive valuations to companies that pursue diversity in their management and corporate governance structure. In this study, minority gender identity is considered as a diversity issue in management that has a socially negative perception. Design/methodology/approach - This study analyzed the relationship between corporate value in the capital market and the policies of companies that advocated minority gender identities, based on listed U.S. company data. Findings - This study finds that companies that support minority gender identities had a lower Tobin's q value than companies that did not. However, in the case of authenticity in terms of corporate governance diversity, the study finds that companies that advocate minority gender identities rather receive high firm valuation. In particular, companies with a high percentage of female directors show high corporate value even when implementing policies that support minority gender identities. Research implications or Originality - This study explores the capital market's response to diversity using past data in the U.S., but provides more practical implications for how companies should respond to a situation where an advocacy policy, based on more social recognition, for LGBT groups is established in Korea.

• East Asian Economic Review
• /
• 제24권3호
• /
• pp.275-301
• /
• 2020

We analyze state-level matching efficiencies in the Indian labor market using stochastic frontier analysis. The key contribution of this research is the estimation of matching efficiencies at the state level because these can be used for a state-level measure of labor market conditions. Next, we explore the relationship between the estimated matching efficiencies and population density, labor market flexibility, and the Ease of Doing Business index, respectively. The results show that matching efficiency is heterogeneous across states with considerable variation in accordance with the regional diversity in India. However, we find that there is little relationship between the estimated matching efficiencies and the labor market conditions of interest, suggesting that other regional diversity affects matching efficiencies across states in India.

• International Journal of Costume and Fashion
• /
• 제12권2호
• /
• pp.41-52
• /
• 2012

The purpose of study is to understand of china clothing brand to have them to be competitive position in global market. Also through this study people who are in a clothing industry market from China and overseas will be able to utilize it to have competitive brand power. Analyzing of the China clothing brand with a history and process of development is done to help understand of changes through years. With the rapid development of economy in China, the textiles & clothing industry, as one of the key industries, is showing a strong growing tendency, and brand in china have been expanding oversea market. Till 2002, China has already been the world's largest supplier of textile & clothing. Nowadays, "Made in China" is going to be "Created in China", lots of Chinese clothing brands appear, and many Chinese fashion designers step onto world stage. Chinese women's clothing, men's clothing, casual clothing, sports clothing and designer's brand are developing, popular brands are also promoted through convenient e-commerce. Clothing companies are going public, acquiring overseas brands, implementing internal mergers and integration, expanding overseas market. In such a diversity era, Chinese brands not only need to be localization, but also need to confirm with the trend of international management and globalized economy.

• 유통과학연구
• /
• 제17권9호
• /
• pp.117-125
• /
• 2019

Purpose - We investigate how to increase consumer incentives to buy public offering funds, resulting in activating the public offering fund market. In particular, this study aims to find ways to expand diversity and to improve efficiency of public offering fund. The public fund market of Korea has been stagnant in recent years. However, the public offering fund market plays a very significant role in terms of consumer welfare. Since only a few wealthy investors can participate in the private equity market, the stagnation in the public offering fund market usually reduces the opportunity of consumer's buying funds thus ultimately affecting their future wealth. Research design, data, and methodology - To attain our purpose, the 'factor-based portfolio strategy' has been considered. It is an alternative portfolio strategy, which composites the advantages of the passive management and active management. For our empirical anaylsis, we used global stock distribution market data over the period of 1991 and 2016. Then we constructed portfolios based on firm-size, firm-value, and momentum. Finally, a regression model was set, then hypotheses were tested, analyzing the performances. Results - First, among the 15 factor-based portfolios of global, Europe, Asia-Pacific(ex Japan), US and Japan, in eight portfolios, positive excess returns are observed at 5% significance level. Further, there is another portfolio with positive excess return at 10% significance level. Second, most of the portfolios with significant excess performance show positive relationship with the market portfolio. However, the firm-value based portfolio in Asia-Pacific region shows no relationship, and the firm-value based portfolio in US shows negative relationship. Third, we confirmed that the two firm-value factor portfolios in Asia-Pacific region and US, not having positive relationship with market portfolio, provide significant excess returns. Conclusions - In this paper, we provide empirical evidences supporting that the factor-based portfolios expand the diversity of funds and improve the efficiency of investment performance. However, there is no guarantee that the efficiency will continue in the future. In addition, various constraints and costs must be considered. Nevertheless, our novel findings in the advanced financial market such as US and Asia-Pacific are very interesting and offers important implications.

• 한국콘텐츠학회논문지
• /
• 제12권11호
• /
• pp.368-376
• /
• 2012

전통적으로 미디어 시장은 사업자수가 적고 특정 미디어의 영향력이 크기 때문에 시장집중을 엄격하게 규제하여 왔다. 하지만 미디어에 개방형 인터넷이 도입됨에 따라 미디어 규제의 근거인 희소성과 침투성 개념이 약해지고 있다. 본 연구는 미디어 융합 환경에서 기존 시장집중 규제의 문제점을 비판적으로 평가한다. 개방형 콘텐츠 유통구조에서 시장성과는 시장구조보다 사업자행위에 더 영향을 받으며, 수직결합이 서비스 혁신의 수단으로 부각되고 있고, 시장획정이 끊임없이 변하기 때문에 시장집중 측정이 어려워지고 있다. 따라서 시장집중은 단순히 사업자의 시장점유율과 같은 구조적 요인으로만 규제할 것이 아니라 시장 비효율과 다양성을 저해하는 사업자 행위를 중심으로 규제하는 것이 더 적합하다는 결론이다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권12호
• /
• pp.261-269
• /
• 2021

This study examines the effect of block diversity on the risk of firms listed on the Korean Stock Exchange between 2010 and 2017. To examine the effect of block diversity on corporate risk, we measure block diversity in terms of a single component, portfolio size, by referring to prior literature. This diversity component accounts for the differences in portfolio size across corporate blocks. In line with existing research on corporate risk, we consider several variables to measure corporate risk: volatility, beta, and idiosyncratic risk. The results show a negative relationship between the size of a block shareholder's portfolio and corporate risk. We also show no difference in the effect of block diversity on the corporate risk between KOSPI and KOSDAQ. This implies that the difference in portfolio size among corporate blocks reduces corporate risk. This may be due to the effect of inter-block monitoring activities in the Korean securities market, which benefits from block diversity. This empirical result supports previous studies that predicted that block diversity would have beneficial influences on firm monitoring in general. This study is significant in that it analyzes the relationship between block diversity and firm risk and provides relevant information to business practitioners and investors.

• 한국언론정보학보
• /
• 제35권
• /
• pp.7-35
• /
• 2006

신자유주의적 세계화가 강화되면서 문화시장 개방을 둘러싼 국제사회의 논쟁 역시 강화되고 있다. 시장개방 촉진자들은 문화영역의 생산물 역시 타 상품과 같은 조건에서 다루어져야 한다고 강변한다. 이의 반대자들은 문화란 개인과 공동체의 의식과 정체성에 영향을 주는 것이기에 상품교역에 있어서도 예외성이 인정되어야 한다고 강조한다. 이 같은 문화시장 개방을 둘러싼 국제 관계의 흐름은 국제사회의 의사결정과 관리에 대한 규범 창출의 이론적 틀을 제시하는 '글로벌 거버넌스(Global Governance)'의 중요성을 부각시킨다. 이에 본 논문은 문화시장 개방을 둘러싸고 서로 다른 입장을 취하고 있는 국제규범과 이의 행위자들에 대한 고찰을 글로벌 거버넌스라는 관점을 통해 살펴보고 있다. 구체적으로 문화시장 개방을 촉진하는 WTO, GATT, GATS와 같은 국제협약 및 행위자들을, 그리고 그 반대편에 위치하면서 '문화적 다양성' 논의를 이끌고 있는 국제협약 및 행위자들을 글로벌 거버넌스라는 틀 속에서 검토하고 있다. 이를 통해 본 논문은 문화시장 개방을 둘러싼 논쟁과 충돌은 패권국가의 힘에 기반한 국제질서가 아니라 다양한 국제사회의 행위자들이 참가하는 글로벌 거버넌스의 구축을 통해 그 해결책이 모색되어야 한다는 것을 강조하고 있다.