• The Journal of Fisheries Business Administration
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• v.26 no.1
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• pp.79-104
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• 1995

Dividend Policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the attainment of firm's objective. This paper is to examine the present status of dividend policy of the Pusan Cooperative Fish Market, and to suggest the optimal dividend policy decisions appropriate for achieving its objective, which is to promote the fishermen's benefits and protect the interest of consumers. There are two types of dividend that the Pusan Cooperative Fish Market pays to the equity owners : (1) dividend on capital and (2) equalized patronage dividend. During'90s, while the rate of dividend on capital ranged from 1.7% to 2.8%, that of equalized patronage dividend ranged from 13.9% to 22.9%. Therefore, the rate of total dividend on capital including revolving funds has been about 20%, which turns out to be much higher than those of companies listed in the stock market. According to the current dividend data, the Pusan Cooperative Fish Market focuses on the equalized patronage dividend and the dividen on capital is the secondary type of dividend. In addition, the interesting feature of equalized patronage dividend is that it is supposed to be reinvested into capital by the Articles of the Fish Market, as soon as the Fish Market pays it to its members. Finally, this paper suggests the rational dividend policy of the Fish Market that is able to help its objective to be achidved more efficiently. The overall direction of the rational dividend policy can be summarized as follows ; (1) The level of cash dividend on capital should be increased enough to reflect the market interest rate. (2) The subsidy of working capital to some member fisheries cooperatives as quasi- dividend should be cut off steadily. (3) The equalized patronage dividend should be replaced by the original patronage dividend whose level is determined by the volume of each member's purchase. (4) In the long-term, it is necessary to improve the system of revolving funds in the way that revoloving funds could serve to complement equity capital for only a fixed time, after which they ard repaid to the members.

• 한국사회정책
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• v.23 no.2
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• pp.201-237
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• 2016

This paper focuses on Korean and Japanese female workers participating in the outside (secondary) labour market, especially with an attention given to two aspects. First, we explain how females are 'more outsiders' than males in the labour market. Secondly, we investigate M-shape in the female labour market participation by focusing on different proportion of non-standard worker. Then, in order to explain why women keep on being more concentrated in the outer side of the labour market, we examine the development of three policies in Korea and Japan since 1990s. Labour market deregulation policy, female employment policy and lastly, family policy are examined as institutional arrangement. Lastly, we discuss on how institutional combination is associated with females' concentration in the outside labour market in Korean and Japanese dual labour market.

• STI Policy Review
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• v.6 no.1
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• pp.36-53
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• 2015

The rise of latecomer countries across the world directs academic attention to their catching-up and innovation processof seizing technological opportunities and combining internal and external knowledge. Different from the developed economies as well as the newly industrialized economies, China presents a special innovation environment, wherein its technology regime, market opportunities, and institutions are complex and the globalization trend affects competition in a broader way. In thiscontext, we clarify and extend the framework of "secondary innovation". This framework describes the dynamics of those with relatively poor resources and capabilities in their efforts to capture the values of mature/emerging technology or business models by acquiringthem from across borders and then adapting to catching-up contexts. Such processes, differentiated from original innovation that involves the whole process from R&D to commercialization, has become a prevailing regime during paradigm shifts. In particular, unlike the traditional catch-up literature that focuses more on technology, the secondary innovation framework inclusively contains both technology and business model innovation, and puts forward the co-evolution between the two elements, which is more applicable to China's context. In accordance, we also provide implications towards fulfilling the goal of building an innovation-driven nation.

• Asia Marketing Journal
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• v.17 no.4
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• pp.63-88
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• 2016

K-Pop is hugely promoted offline/online in East Asia, while efforts to promote it elsewhere are kept to a minimum. Whilst addressing the role of digital marketing in the promotion of K-Pop in the Brazilian music industry this study aims to demonstrate that K-pop will provide its audience with a unique and engaging experience if it thinks globally and acts locally in its marketing and communication strategies. A survey of K-Pop's world fan base was carried out online with 1,074 fans to determine the validity of the hypothesis. The results have demonstrated the need to adapt global and intercultural strategies to local markets with increasing brand awareness through utilizing digital marketing. For example, to increase K-Pop's popularity and market share in Brazil, it is not required to sing in Brazilian Portuguese, contrary to what might be perceived but fully singing in English would help breaking into the market dominated by domestic music as songs would have a higher probability to be included in the international soundtrack of a Brazilian telenovela and promote the K-Pop artist not only across Brazil but also give the artist exposure in all the markets the Brazilian telenovela is exported to, opening an entry door to those markets. K-Pop audience segmentation and psychographic profiling is crucial to the understanding of each market's consumer's preferences, likes, dislikes and their buying habits as it was proven through Brazil's digital media, social media, digital music market and K-Pop market analysis within the global context of the study. It should be also considered that brand extensions are not standard everywhere and that there are cultures where different product categories are not directly associated with its main corporate owner which requires extensive local market knowledge to succeed. The primary and secondary data research that we conducted for this study intended to demonstrate that K-Pop can be successful in Brazil and in Latin America and increase their local and regional market share if digital marketing and communication strategies are tailored to each individual market.

• Journal of the Korea Fashion and Costume Design Association
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• v.16 no.3
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• pp.135-149
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• 2014

Fur clothing as fashion items is expanding into casual & ladies's wear market as well as fur market. The interest of fur fashion is rising. So this study compares and analyzes the merchandising process of textile clothing also it of fur clothing by merchandising steps. Fur clothing has so many change factors at time of purchase by scarcity of raw material, price fluctuation, exchange rate and others. Therefore it is primarily about securing of raw material. As soon as plan of product is finished, the purchase of fur raw material has to be started while progress of design products for commercializing the fur clothing. The design of fur clothing is consist of material design, color design and shape design. And It makes a new trend & market as we are developing new & various treatments. The some of imported materials are transferred to the factory for being treated first dressing, fabric treatments and dyeing processing according to the design. The first treated materials are transferred to the sewing factory again for secondary treatments and finally inspected and shipped. During secondary treatments the fur has gone through various manufacturing process for using like fabric materials and it takes long time because almost work is running manually. Unlike fabric clothing, fur clothing's manufacturing method is complicated and various from material process to shape process as per feature. Therefore the merchandising with fur cannot make mass production also needs detail craftsmanship depending by expert's skills. On this wise the fur clothing takes long time to the completion thus it has been risky and costly.

• Korean Journal of Human Ecology
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• v.21 no.1
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• pp.129-140
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• 2012

The purpose of this study was to examine the Korean research trends of Chinese fashion market for clothing construction and merchandising. The data for this study consists of 118 researches published in six Korean journals from 1998 to 2010. The results were as follows: 1) For clothing construction, the most studied topic was body type, and for merchandising, individual characteristics were mostly researched. 2) There were a large number of researches by multiple authors. 3) For clothing construction, they tended to be studied by the experimentation model and for merchandising, the questionnaire and survey were mostly used in researches. 4) Most researches used descriptive statistical methods for analysis. 5) And the data were mostly gathered from Chinese women. These findings provide significant insights into current trends and further studies in Chinese market.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.4
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• pp.81-90
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• 2018

Modern investment theory has empirically proved that stock returns can be explained by several factors such as market risk, firm size, and book-to-market ratio. Other unknown factors affecting stock returns are also believed to still exist yet to be found. We believe that one of such factors is the operational efficiency of firms in transforming inputs to outputs, considering the fact that operations is a fundamental and primary function of any type of businesses. To support this belief, this study intends to empirically study the relationship between firm efficiency and stock price performance. Firm efficiency is measured using data envelopment analysis (DEA) with inputs and outputs obtained from financial statements. We employ cross-efficiency evaluation to enhance the discrimination power of DEA with a secondary objective function of aggressive formulation. Using the CAPM-based performance regression model, we test the performance of equally weighted portfolios of different sizes selected based upon DEA cross-efficiency scores along with a buy & hold trading strategy. For the empirical test, we collect financial data of domestic firms listed in KOSPI over the period of 2000~2016 from well-known financial databases. As a result, we find that the porfolios with highly efficient firms included outperform the benchmark market portfolio after controlling for the market risk, which indicates that firm efficiency plays a important role in explaining stock returns.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.351-360
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• 2022

This study aims to determine the factors that can influence investors in selecting stocks in the Indonesian capital market to establish an optimal portfolio, and find phenomena that occurred during the COVID-19 pandemic so that buying interest / the number of investors increased in the Indonesian capital market. This study collection technique uses primary data obtained from the survey questionnaire and secondary data which is market data, stock price movement data sourced from the Indonesia Stock Exchange, Indonesian Central Securities Depository, and Bank Indonesia, as well as empirical literature on behavior finance, investment decision, and interest in buying stock. The method used in this research is the survey questionnaire analysis with the SEM (statistical approach). The results of the analysis using SEM show that investor behavior influences the stock-buying interest, investor behavior, and the stock-buying interest influences investor decision-making. However, risk management does not influence investor-decision making. This occurs when the investigator's psychological capacity produces more decision information by decreasing all potential biases, allowing the best stock selection model to be selected. When the investigator's psychological capacity creates more decision information by reducing biases, the optimum stock selection model can be chosen.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.49-59
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• 2022

Based on assessing the impact of factors on the business efficiency of construction enterprises, the research team proposes policy implications to improve the business performance of listed construction enterprises in Vietnam in the coming time. The study used secondary data collected from the audited financial statements of 25 enterprises listed on Vietnam's stock market in the period 2015-2021 to estimate the factors affecting the business performance of construction enterprises. After collecting, the data will be encrypted and checked. The article uses a quantitative research method by using a linear regression model on Eviews 10 to analyze the data and analyze the impact of factors on the business performance of construction enterprises listed on Vietnam's stock market. The research result shows that firm size and growth rate positively affect business performance while capital structure, receivable management, fixed asset investment, and economic growth have a positive impact on the business performance of construction companies listed on the Vietnamese stock market. Based on this result, the paper also makes recommendations to the Vietnamese construction companies to enhance their business performance.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.9-24
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• 2022

With a view to attracting foreign investment and growing the economy, the Vietnamese government has hastened financial reforms, including the lifting of limitations on foreign investment, which has resulted in rapidly rising foreign ownership in recent years. To study the relationship between transactions of foreign investors and transactions of domestic investors on two stock exchanges in Vietnam Ho Chi Minh City Stock Exchange (HSX) and Hanoi Stock Exchange (HNX). This study applies a secondary dataset comprising daily market trading information of 912 stocks from 18 industries listed on 2 Vietnam stock exchanges, including HSX and HNX, which includes executed price, executed volume, daily Buy Orders, and Sell Orders categorized into domestic investors' orders and foreign investors orders from 01.04.2010 to 10.04.2018. The regression results show a significantly positive relationship between foreign investors' trading and domestic investors' transaction in all trading activities in both up and down markets. Therefore, these results indicate that domestic investors in Vietnam are concerned with foreign investors' trading as an important sign, and domestic investors tend to follow their counterparties without appropriate fundamental information. From there, there are signs of herding behavior of domestic investors following foreign investors in transactions on the stock market in Vietnam.