• Journal of Distribution Science
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• v.17 no.10
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• pp.41-48
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• 2019

Purpose - This study investigates whether financial analysts consider the intangible investment implicit in selling, general, and administrative (SG&A) expenditures to forecast firms' future earnings. Research design, data, and methodology - Using 52,609 U.S. firm-year observations spanning 1984-2016, this study examines the association between the Intangible investment implicit in SG&A expenditures and properties of analysts' earnings forecasts. To estimate the Intangible investment of SG&A, I decompose SG&A excluding R&D and advertising expenditures into maintenance and investment components following Enache and Srivastava (2017). Results - The main results show that analysts' earnings forecast errors and dispersion in analysts' forecasts increase with the intangible investment derived from SG&A because the investment component of SG&A affects future earnings and the uncertainty of those earnings. However, these results are weakened in the wholesale and retail industries where firms have a higher level of investment component of SG&A. I attribute the weaker results to low R&D expenditures in those industries. Conclusion - This study indicates that financial analysts incorporate the intangible investment of SG&A into their earnings forecasts differently across firms and industries. Furthermore, this study supports the argument for the separate reporting of the investment nature of SG&A from other operating expenses such as maintenance nature of SG&A.

• Journal of the Korean Society of Clothing and Textiles
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• v.30 no.9_10 s.157
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• pp.1413-1422
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• 2006

Technologies such as television shopping channels and the internet expand consumers' impulse purchasing opportunities. The interest in national differences of consumer behavior was growing and highlighted the importance of understanding the national context of consumer behavior in an increasing globalized marketplace. The purposes of this study were to examine the effects of fashion involvement and hedonic consumption on impulse buying for Korean and American young consumers, and to compare the differences between two groups. A questionnaire was developed from literatures reviewed. Data were obtained from students attending universities in Korea(N=413) and the U.S.(N=290). Using structural equation modeling, the results indicated that the proposed model of this study was appropriate to explain the effects of fashion involvement and hedonic consumption on impulse buying for Korean and American young consumers. The model showed that fashion involvement and hedonic consumption played important roles in triggering impulse buying for two groups. In addition, American consumers were more likely to influence fashion involvement and hedonic consumption on impulse buying than Korean consumers. The results provided some insights into globalized retail marketing theory supporting the national aspects of impulse buying. Future research and managerial implications are addressed.

• Journal of the Korean Society of Clothing and Textiles
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• v.39 no.5
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• pp.703-713
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• 2015

Consumers' psychological demands for e-tail shopping have increased as websites have become one of the most dominant retail outlets for various fashion products. The lack of realistic social stimuli in virtual contexts (websites) has been a major limitation for many online shoppers. Prior research has focused on the viable role of technology to improve positive social factors in e-tailing; however, this study tests the role of tone in text in fashion e-tail sites on consumers' trust and choice confidence. We conducted a self-administered online survey with 309 individuals from the U.S.. The results indicated positive effects of casual tone in text-based content of a fashion e-tail site on trust and confidence. Trust also has a significant positive effect on confidence. Both trust and confidence improved purchase intention. Given the high price of employing an avatar or simulated salesperson online, using tone in text to increase positive social effect on shoppers can be a positive alternative when managers plan e-tail strategies contributing to consumers' positive shopping experience online. Discussions and study limitations are provided.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.23 no.1
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• pp.80-86
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• 2011

Vertical open display cabinets are widely used in shopping mall, supermarkets, retail stores. Maintaining the temperature of foods in the display cabinet is vitally important to retailers to ensure optimal food quality and safety. The purpose of this study is to reduce the infiltration of air and heat loss from ambient space to display cabinet. The three-dimensional Computational Fluid Dynamics(CFD) simulation is used for the analysis of air flow patterns and temperature distribution in refrigerated display cabinets. Under several operating conditions which vary both the inner and outer jet velocities in the range from 0.3 to 1.1 m/s, simulations were carried out. This paper presents a performance of display cabinets with single jet and double jet. The energy consumption due to thermal entrainment ratio is plotted with varying Re. It was found that the double jet system is better than single jet system in terms of temperature distribution and energy saving.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.67
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• pp.69-95
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• 2015

The main purpose of this study is to analyse what are the key financial innovations in the euro area electronic payment systems. TARGET2 is the RTGS-system provided through the Eurosystem. It is used for settling central bank operations, for large interbank transfers in euro and also for other euro-denominated transfers. The specific features of TARGET2 include processing in real time, settlement in central bank money and immediate finality. In addition, the SEPA is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. In particular, the main innovations consist of the completion of the phased migration to the TARGET2 infrastructure, and the introduction of a single retail payment market in euro - the SEPA and its products, schemes and frameworks. As the study analyse, the key innovations consist of the TARGET2 introduction, SEPA establishment and migration towards the T2S system. These innovations will lead to a better understanding of the payment and settlement systems' behavior in stress situations and to enhance the stability of the euro area financial system. Moreover, the successful integration of the European payment and settlement infrastructures will further contribute to the integration of the European financial markets, as well as to their higher competitiveness.

• Korean Institute of Interior Design Journal
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• v.17 no.1
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• pp.69-76
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• 2008

The purpose of this study is to analyze the interior characteristics of the Yale center for British art by Louis I. Kahn. As his last realized project, the Yale center for British art shows Kahn's latter architectural thoughts about exterior/interior, space/structure and theory/practice. Kahn arranged unit space(room) around two interior courts and laminated them vertically. This spatial configuration is the result of solving the urban context which needed the continuity of street and complicated program including art museum, retail shop, studio and library. Although Kahn adpted severe formal configuration, he added changes to spatial relation. The visualization of architectural system is realized by revealing the relation of the unit space and structure. And this emphasized the presence of the center. The emphasis of tectonic expression is also the characteristics of interior in that structure is the logical part of whole building system rather than concealing object for the exterior of buildings. In the Yale center for British art, interior characteristics are summarized as spatial configuration based on the relation between unit space and two courts, the visualization of structural order, and the relationship between structure and light.

• Journal of Korean Ophthalmic Optics Society
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• v.8 no.2
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• pp.153-162
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• 2003

The transformation of the Italian retailing has permitted, in the last ten years, a quick modification of the strategic groups' weight at a distributive level. Such change regards the redesign of the competitive assets that sees as protagonist both the main foreign big multiple chains and the Italian retailing, characterized by small dependent enterprises. The analysis is focused on the solutions that independent retailers are adopting in order to strengthen their competitive ability in relation to the aforementioned prospective entrance of foreign distributors in the domestic market. In particular, the most commonly adopted strategic alternative are analysed, in an attempt to characterize the development models that can emerge. The paper presents a case of possible successful solution adopted by some independent retailers for a competitiveness recovery without sacrificing the enterprise's property and autonomy.

• The Journal of Industrial Distribution & Business
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• v.7 no.3
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• pp.19-25
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• 2016

Purpose - This study explores the role of construal levels in predicting online consumer behavior on a retail website. It builds on the conceptualization that simply browsing a website and making actual purchases can be an outcome of how abstractly or concretely one thinks about that experience. This study examines the differential effects of intermediary websites' attributes and seller's product offerings in predicting frequency of visits and actual purchases. Research design, data, and methodology - Data were collected from 188 undergraduate students in a large university of Korea. Hierarchical regression model was utilized to test the proposed effect of website characteristics and seller attributes on visit and purchase. Results - We propose and find that online shopping website visits and purchase frequency have different antecedents. The results reveal that website visit frequency and purchase have different predictors and this can be explained through construal level theory. Specifically, we find purchase frequency is predicted more by website image and financial benefits can be more predictive in actual purchases. Conclusions - Consumer behavior on the internet can be delineated into website visits and actual purchases. First, uplifting the image of the website itself is much more important than just making offerings cheaper. Online shopping website should try to match its features to mental representations that customers go through from just visit (abstract) to purchase (concrete).

• Journal of the Korean Society of Clothing and Textiles
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• v.35 no.8
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• pp.906-917
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• 2011

This study identified the present state of store and selection criteria of supplier from the regional fashion buyer point of view and examined the effects of the factors of relative impact between buyer and supplier on the relational bond. The interviews and questionnaires were administered to the owners or the sellers of 85 fashion retail stores in Gwangju. For analysis of data, frequency, means, factor analysis, Cronbach's ${\alpha}$ and regression analysis were applied. The results were as follows. First, in the results of examining the actual conditions of store managers for fashion buyers, fashion buyers complained about lengthy travelling and time consumption inconvenience. They also reported decrease in margin and monthly mean sales over last year. Second, the most important selection the criteria for the supplier were product power, followed by a convenient store layout. Finally, higher quality communication, more compromises, and higher dependence were affected with higher satisfaction, trust, and commitment in suppliers; conversely, the trust and commitment of the buyers decreased relative to the increased power of the suppliers.

• Journal of the Korean Home Economics Association
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• v.25 no.4
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• pp.47-55
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• 1987

This study was designed to elucidate the lipid contents, neutral lipids components and fatty acid composition in fresh shellfishes, produced in Korea. Four kinds of shellfishes including sea mussel, short-necked clam, corb shell and and ark shell were selected according to the higher sales order and cheaper retail price at fish markets in Seoul in July 1985. The results abtained were as follows; 1. The average total lipid contents in four shellfishes were 2.3% by wet weight basis. The ratios of neutrial lipid, glycolipid and phospholipid in the total lipid were 51.1 : 4.9 : 44.0 in sea mussel, 66.0 : 3.2 : 30.8 in ark shell, 37.8 : 2.2 : 60.0 in short-necked clam and 54.5 : 2.0 : 53.5 in corb shell, 2. The average value of acid value, iodine value and unsaponifiables contents of total lipids were 1.3, 217.8, 92.0 and 20.3%, respectively. 3. The composition of the neutral lipids were triglycerides, esterified fatty acids, sterylesters, free sterols and monoglycerides in four shellfishes. 4. The major fatty acid composition of total lipids were palmitic, eicosapentaenoic, docosahexaenoic and palmitoleic acids in four shellfishes. The average total unsaturated fatty acids of total lipid were 64.5%, and $\omega$-3 highly unsaturated fatty acids were 27.0%. The average p/s Ratiio were 1.3.