• Title/Summary/Keyword: Retail Firm

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The Impact of Acquisition Announcements on Acquiring Firms' Alliance Partners : A Research Review and Compositive Research Model for Retail Industry

  • Koo, Ja-Seung
    • Journal of Distribution Science
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    • v.12 no.5
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    • pp.15-26
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    • 2014
  • Purpose - This study addresses an acquisition's impact on a firm's strategic relationship based on findings of existing academic studies and theoretical assertions. Through examining existing research results and theoretical grounds for an acquisition's impact on various stakeholders, this study indirectly approaches the impact on stakeholders including alliance partners. Research design, data, and methodology - This research identified a variety of related theoretical foundations and empirical studies. Research objectives of prior studies mainly focused on merging firms and direct participants of acquisition activity. In addition, academic attention on the impact on rival firms has recently been growing. However, little research on alliance partners was found. Prior studies simultaneously employed event study methodology and cross-sectional analysis to make further theoretical contributions. Results and Conclusions - Based on the findings of prior studies, this research proposed a complementary research model for future academic inquiry into the impact of an acquisition on an alliance partner's return and for predicting an acquisition announcement's effect on alliance partners.

Activation Strategy for the Ship Supply Industry at the Port of Busan

  • Gu, Min-Jin;Ahn, Jin-Woo;Moon, Sang-Young
    • Journal of Navigation and Port Research
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    • v.36 no.2
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    • pp.141-148
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    • 2012
  • This study evaluates how activation plans presented by previous research are perceived by employees in the ship supply industry by sample surveys. Another objective of this study is to also assist in the selection of effective activation plans. It is becoming more and more difficult for the Port of Busan to strengthen its competitiveness in the ship supply industry by maintaining the status quo. Much research extending the scope of research subjects in the port logistics industry indicates that the development of the port logistics industry is very important for creating new value for the Port of Busan. The results shows that improvement in the retail structure and government support had a significantly positive correlation between the importance and necessity of the ship supply industry activation.

The Effects of the change in Telecommunication Regulation on Advanced Network Investment (규제정책의 변화가 고도 통신망 투자유인에 미치는 영향분석)

  • Jung, Choong-Young;Jung, Song-Min
    • Journal of the Korea Institute of Information and Communication Engineering
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    • v.15 no.7
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    • pp.1405-1414
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    • 2011
  • This paper analyzes the impact of the change in telecommunication regulation on network investment such as the integration of telecommunication service. The integration of telecommunication service plays a role of separating the behavior regulation from entrance regulation and reducing a entrance constraints. Therefore, it is expected that the market spill over effect is high through the improvement of behavior regulation such as interconnection regulation, facilities provisions, retail price regulation, bundling, number portability of VoIP. This paper discusses the critical factor affecting the decision making process in respect of the firm level and analyzes the impact path guiding investment and innovation. Finally, the paper proposes the guideline for telecommunications policy.

Relationships between Brand Satisfaction and Store Loyalty in Retail Service Firm: The Causal Role among Store Satisfaction, Brand Trust and Store Trust (소매 서비스 기업에서 브랜드만족과 점포충성도 관계: 점포만족, 브랜드신뢰 및 점포신뢰의 인과적 역할)

  • Park, Seung-Whan;Choi, Chul-Jae
    • The Journal of the Korea Contents Association
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    • v.8 no.11
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    • pp.286-295
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    • 2008
  • The purpose of this paper is to demonstrate the relationships between brand satisfaction and store loyalty by examining the role of brand trust, store satisfaction and store trust in determining store loyalty in retail service firms. The results of the study are as follows: First, in case of relation exchange consumers, which are characterized by cooperative actions and mutual adjustment of both buyer and seller, brand satisfaction has a positive influence on brand trust, brand trust has a positive influence on store trust, and then store trust a strong positive influence on store loyalty. That is, store loyalty can be build up by combined benefits both brand trust and store trust in relation exchange consumers. Second, in another case of transaction exchange consumer, which are discrete buyer-seller exchange of commodity or performance with minimal personal relationships and no anticipation or obligation of future exchange, brand satisfaction has a positive influence on store satisfaction, and then store satisfaction has a direct influence on store loyalty. So, retailers have to developing strong brands which could help ensure both satisfaction and loyalty.

Assessing the Damage: An Exploratory Examination of Electronic Word of Mouth (손해평고(损害评估): 대전자구비행소적탐색성고찰(对电子口碑行销的探索性考察))

  • Funches, Venessa Martin;Foxx, William;Park, Eun-Joo;Kim, Eun-Young
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.2
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    • pp.188-198
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    • 2010
  • This study attempts to examine the influence that negative WOM (NWOM) has in an online context. It specifically focuses on the impact of the service failure description and the perceived intention of the communication provider on consumer evaluations of firm competence, attitude toward the firm, positive word of mouth and behavioral intentions. Studies of communication persuasiveness focus on "who says what; to whom; in which channel; with what effect (Chiu 2007)." In this research study, we examine electronic web posting, particularly focusing on two aspects of "what": the level of service failure communicated and perceived intention of the individual posting. It stands to reason electronic NWOM that appears to be trying to damage a product’s or firm's reputation will be viewed as more biased and will thus be considered as less credible. According to attribution theory, people search for the causes of events especially those that are negative and unexpected (Weiner 2006). Hennig-Thurau and Walsh (2003) state "since the reader has only limited knowledge and trust of the author of an online articulation the quality of the contribution could be expected to serve as a potent moderator of the articulation-behavior relationship. We therefore posit the following hypotheses: H1. Subjects exposed to electronic NWOM describing a high level of service failure will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM describing a low level of service failure. H2. Subjects exposed to electronic NWOM with a warning intent will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM with a vengeful intent. H3. Level of service failure in electronic NWOM will interact with the perceived intention of the electronic NWOM, such that there will be a decrease in mean response on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention from electronic NWOM with a warning intent to a vengeful intent. The main study involved a2 (service failure severity) x2 (NWOM with warning versus vengeful intent) factorial experiment. Stimuli were presented to subjects online using a mock online web posting. The scenario described a service failure associated with non-acceptance of a gift card in a brick-and-mortar retail establishment. A national sample was recruited through an online research firm. A total of 113 subjects participated in the study. A total of 104 surveys were analyzed. The scenario was perceived to be realistic with 92.3% giving the scenario a greater than average response. Manipulations were satisfactory. Measures were pre-tested and validated. Items were analyzed and found reliable and valid. MANOVA results found the multivariate interaction was not significant, allowing our interpretation to proceed to the main effects. Significant main effects were found for post intent and service failure severity. The post intent main effect was attributable to attitude toward the firm, positive word of mouth and behavioral intention. The service failure severity main effect was attributable to all four dependent variables: firm competence, attitude toward the firm, positive word of mouth and behavioral intention. Specifically, firm competence for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Attitude toward the firm for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Positive word of mouth for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Behavioral intention for electronic NWOM describing high severity of service failure was lower for electronic NWOM describing low severity of service failure. Therefore, H1a, H1b, H1c and H1d were all supported. In addition, attitude toward the firm for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Positive word of mouth for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Behavioral intention for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Thus, H2b, H2c and H2d were supported. However, H2a was not supported though results were in the hypothesized direction. Otherwise, there was no significant multivariate service failure severity by post intent interaction, nor was there a significant univariate service failure severity by post intent interaction for any of the three hypothesized variables. Thus, H3 was not supported for any of the four hypothesized variables. This study has research and managerial implications. The findings of this study support prior research that service failure severity impacts consumer perceptions, attitude, positive word of mouth and behavioral intentions (Weun et al. 2004). Of further relevance, this response is evidenced in the online context, suggesting the need for firms to engage in serious focused service recovery efforts. With respect to perceived intention of electronic NWOM, the findings support prior research suggesting reader's attributions of the intentions of a source influence the strength of its impact on perceptions, attitude, positive word of mouth and behavioral intentions. The implication for managers suggests while consumers do find online communications to be credible and influential, not all communications are weighted the same. A benefit of electronic WOM, even when it may be potentially damaging, is it can be monitored for potential problems and additionally offers the possibility of redress.

A Study of Effects of Interorganizational Relationship Factors on Technology Diffusion in Supply Chain Networks (공급사슬 네트워크에서 기업 간 관계 요인이 기술 확산에 미치는 영향)

  • Choi, Daeheon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.16 no.2
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    • pp.1006-1015
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    • 2015
  • This study proposed a model to examine the interorganizational relationship factors on the technology diffusion in supply chain networks whereby a firm's adoption decision is influenced by information from physical and social proximity with others as well as its own attributes. To test several hypotheses developed in this context, this paper analyzed the data set of US consumer packaged goods companies adopting an inventory tracking technology in a retail supply chain and found that a potential adopter's decision is largely influenced by the social proximity with prior adopters in a network over time, while a firm's likelihood of adoption at the initial period is mainly determined by its own attributes.

The Effect of SG&A on Analyst Forecasts and the Case of Distribution Industries

  • LIM, Seung-Yeon
    • 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.

The Influence of Customer Satisfaction on Market Value of the Corporate (고객만족도가 기업가치에 미치는 영향)

  • Bae, Jungho;Lee, Hee-Tae
    • Journal of Distribution Science
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    • v.16 no.10
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    • pp.55-64
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    • 2018
  • Purpose - The most important goal of corporate management is the maximization of firm value in the market. Executives of companies are making effort to increase corporate value and initiate various management strategies, which is to develop the products or service with value. Through these efforts, consumer satisfaction grows and loyalty increases, which leads to the positive change of customer satisfaction index. The purpose of this research is to find out the abnormal return after the KCSI(Korean Customer Satisfaction Index) is announced. Research design, data, and methodology - This research data is collected from 11 years' stock price in KOSPI market and KCSI. The authors analyze the abnormal return triggered by the announcement of KCSI through the event study. Results - First, newly enlisted companies in the KCSI show statistically significant short-term abnormal rate of return. Second, the value of the customer satisfaction index is not the level of customer satisfaction but the direction of the change in the CSI. Conclusion - Customer satisfaction has the important intangible asset in the marketing area. However, firms' investment for CS is not an easy decision, because of the difficulty to measure the effect on corporate market value. This research investigates the change of the market value after the announcement of KCSI. Based on the results, firms have to keep trying to increase KCSI relative to the previous year. And the small company has to struggle for being newly listed in the KCSI.

Why Do Employees Behave Entrepreneurially? A Case of Thailand

  • NAKSUNG, Rungluck;PIANSOONGNERN, Opas
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.10
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    • pp.129-139
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    • 2020
  • The objective of this study is twofold: first, to investigate how organizations encourage factors that have an impact on employees' entrepreneurial behavior from employee's perspectives and experiences; and second, to discover how and why employees behave entrepreneurially within the organization. A case study method is considered as an appropriate approach to scrutinize intrapreneurial behavior because it principally concentrates on an investigation into a contemporary organizational phenomenon and context concerning entrepreneurial activities in-depth within its real situation. In data collection, an Asian multinational retail company was selected. Semi-structured interviews were carried out with 24 executive-level employees who had been working in various departments for more than 5 years. Each in-depth interview lasts for a duration of 40 to 60 minutes. The results reveal several understandings into the combination of individual-level and organizational-level factors that promote the intrapreneurial behavior and activities of the established firm in the context of Thailand. In this regard, six factors have been found as the key determinants that make an impact on innovativeness, proactiveness, and risk-taking behaviour of the employees. Those factors are personal preference, organizational stability, management support, compensation, reward system, teamwork, quality of relationship with colleagues, work autonomy and the quality of relationship with the superiors.

Developing Evaluation Indicators for Selecting Suppliers based on IoT Business Model in Servitization Using Delphi Method (델파이 기법을 사용한 사물인터넷 비즈니스 모델 기반의 서비타이제이션 협력업체 선정 평가지표 개발)

  • Yang, Jae-Yong;Lee, Sang-Ryul
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.42 no.1
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    • pp.21-32
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    • 2019
  • The flow of the $4^{th}$ Industrial Revolution calls for the innovation of the traditional business models of the manufacturers. Servitization is a corporate strategy to respond to changes in the business environment. These days, the value that the market demands can be created on the basis of the product-service integration. Thus the manufacturers must pursue the fundamental innovation of the current strategy and business models. It is necessary to create common values with customers through providing product-service integrated offerings beyond the development, production, and delivery. The purpose of this study is to develop the evaluation indicators for selecting suppliers when the manufacturer who offers the value of product-service integration needs to obtain the resources from outside. The case company in this study is the manufacture firm conducting the retail IoT business as a new business. The Delphi method is used to develop the evaluation indicators for selecting suppliers. This study suggests the academic implications providing the perspective of Servitizaiton by using Delphi method, and the practical implications applying the creating value method of Servitization by collecting the opinions from both value providers and value consumers in the process of developing the evaluation indicators.