• Asia Marketing Journal
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• v.20 no.1
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• pp.49-68
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• 2018

It is appropriate and useful to interpret some product classification schemes as buyer behavior models; such classifications permit investigations of discrepancies between classification predictions and actual buyer behavior. We review existing product classifications and identify underlying behavioral assumptions of various classification schemes that have been used in the marketing discipline for more than nine decades. Recognizing the irrelevance of existing product classifications for current products, we propose a new reclassification framework by incorporating transparency concepts. Based on this extended product classification, we highlight the potential roles of product classification study as an important link between consumer research and marketing strategy, emphasizing behavioral implications.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.31 no.4
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• pp.28-44
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• 2023

This study investigates aircraft lessor business models by studying cases and interviewing experts to analyze investors and business strategies of aircraft lessor. The results confirm that there is a wide range of investors including institutional investors, financial institutions, insurance companies, corporations, and wealthy individuals for aircraft lessor. Aircraft lessors can be categorized based on its required rate of return (cost of capital) into bank-investing core, institutional investor-investing value-added, and hedge fund-investing opportunistic. Aircraft lessor decides leasing rate by aircraft purchasing price and lessee's credit rating. Core aircraft lessors invest in new aircrafts for new placement or sale-and-leaseback strategy requiring little technical risk in aircraft, value-added lessors invest in middle-aged aircrafts for re-leasing, opportunistic lessors invest in old aircrafts for freighter conversion or part-out strategy requiring high level of expertise. This study provides insights for future Korean aircraft lessor establishment and investment.

• Asia pacific journal of information systems
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• v.31 no.4
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• pp.527-542
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• 2021

The government-driven open data policies are on the rise to protect consumers from misunderstandings and monitor the companies. However, in contract-based industries such as insurance, the contract-inherent characteristics make information asymmetry between consumers and companies. Our paper focuses on insurance contracts where the contingency has high uncertainty of occurrence, and the clauses may incur high costs of reading. Given those contracts, we hypothesized that the contract's clear statement decreases customer dissatisfaction and lowers the number of complaints. To empirically support the claim, we collected customers' complaint documents of insurance companies and insurance contracts from 2005 until 2017. Our econometric models showed that clearer statements and words significantly reduce the complaints after controlling for firm-specific heterogeneity and time-specific heterogeneity. We identify that insurance companies' complaint ratio significantly differ depending on the insurance contract, including specific clauses and words.

• Asia pacific journal of information systems
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• v.30 no.4
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• pp.832-846
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• 2020

Service organizations increasingly adopt data-based intelligent engines called chatbots in support of the interaction between customers and the companies. Two different types of chatbots have been suggested and introduced by companies leading the adoption of this emerging technology: rule-based chatbots and natural language processing-based chatbots. While the differences between these two types of technologies look relatively clear, the organizational and practical impacts of the differences have not been systematically explored. This study performed an experiment to compare the use of the two different types of chatbots used in practice by two comparable organizations. These two types of actual chatbots were used by Korean on-line shopping malls with similar business models (mobile shopping), length of history, size and reputation. The comparison was made based on such dimensions as usability, searchability, reliability and attractiveness. Contraty to conventional expectation that the superiority in technology will produce superior usability, the results show mixed superiority. The discussion on the reasons is presented.

• The Korean Journal of Applied Statistics
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• v.28 no.1
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• pp.103-114
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• 2015

The role of small and medium enterprises as an economic growth factor has been accentuated; consequently, the need to develop a business forecast model and indexes that accurately examine business situation of small and medium enterprises has increased. Most current business model and indexes concerning small and medium enterprises, released by public and private institutions, are based on Business Survey Index (BSI) and depend on subjective (business model and) indexes; therefore, the business model and indexes lack a capacity to grasp an accurate business situation of these enterprises. The business forecast model and indexes suggested in the study have been newly developed with Principal Component Analysis(PCA) and weight method to accurately measure a business situation based on reference dates addressed by the National Statistical Office(NSO). Empirical studies will be presented to prove that the newly proposed business model and indexes have their basis in statistical theory and their trend that resembles the existing Composite Index.

• Information Systems Review
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• v.5 no.2
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• pp.37-51
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• 2003

Mobile business noticed as a constructive alternative of e-commerce and e-business is being diversely considered as a new form or subset of e-business. In this study, mobile business is defined as a comprehensive alternative including e-business. The framework of the superset of e-business has two axes: connectivity and mobility. In addition, various cases based on the combination of the components are provided and explained. It is the main characteristic of this study that the element of off-line "mobility" is added to "connectivity" generally used while explaining e-commerce and e-business. For place (or location) is a prerequisite for the feature of mobility, we grope for why and how Location-Based Service (LBS) will take an important role in the development of new e-business models and services. As the real and full-scale beginning of IMT-2000 service and the rapid progress and diffusion of mobile communications services including wireless LAN require an immense and innovative way of thinking about e-commerce and e-business, the framework suggested in this study is considered to go far toward satisfying the new needs in this area.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.151-168
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• 2022

Nowadays companies are required to achieve social goals beyond maximizing shareholder profits. Accordingly, it is important to pursue both the economic and social goals of a company at the same time. Thus the importance of hybrid organizations is increasing theoretically and practically. In particular, since hybrid organizations essentially have the complexity of pursuing both economic and social purposes, the institutional demands of various stakeholders surrounding hybrid organizations are also conflicting. Several previous studies have considered how hybrid organizations respond to these conflicting institutional demands, but most studies are limited to studying at a specific point in time. As a result, there was a limit to analyzing the dynamics in response to conflicting institutional demands as the hybrid organization expanded its business. This study predicted that the hybrid organization would take selective coupling with conflicting institutional demands and that the process of responding to institutional demands would change according to the organization's growth. In this study, we had a case study about Noul and Enuma, social ventures that operate relatively advanced business models with outstanding results in innovation and technology. As a result, social ventures show a selective coupling for conflicting institutional demands, and the selective coupling process changes as their business model are advanced. Specifically, in the early stages of the business, it appears to respond to economic and social demands at the same time with a single business model. When the business is advanced, two or more business models are operated, some of which respond to economic needs and some of which respond to social needs. In the early stages of business, social ventures respond to economic and social demands with a single business model to gain legitimacy and survive in the institutional demands. But when they enter the business growth period, they try to separate business models which respond to economic and social values because they pursue sustainable growth and challenge large-scale missions. Overall, this study attempted to contribute to an in-depth understanding of hybrid organizations by identifying that the method of responding to conflicting institutional demands varies depending on the growth process of social ventures.

• Journal of the Korean Operations Research and Management Science Society
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• v.26 no.4
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• pp.55-70
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• 2001

Artificial neural network(ANN) models have been widely used for the classification problems in business such as bankruptcy prediction, credit evaluation, etc. Although the application of ANN to classification of consumers＇ choice behavior is a promising research area, there have been only a few researches. In general, most of the researches have reported that the classification performance of the ANN models were better than conventional statistical model Because the survey data on consumer behavior may include much noise and missing data, ANN model will be more robust than conventional statistical models welch need various assumptions. The purpose of this paper is to study the potential of the ANN model for forecasting consumers＇ choice behavior based on survey data. The data was collected by questionnaires to the shoppers of department stores and discount stores. Then the correct classification rates of the ANN models for the training and test sample with that of multiple discriminant analysis(MDA) and logistic regression(Logit) model. The performance of the ANN models were betted than the performance of the MDA and Logit model with respect to correct classification rate. By using input variables identified as significant in the stepwise MDA, the performance of the ANN models were improved.

• Proceedings of the KAIS Fall Conference
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• 2003.11a
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• pp.65-69
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• 2003

As complex mathematical models are increasingly adopted for business decision-making, difficulties arise in reusing solvers (i.e., model solving algorithms) against diverse models and data sets and thus the collaboration among users (model/solver builders and decision makers) in multiple departments becomes very difficult. To facilitate the solver reuse, this paper adopts the Web services technologies as the base technologies for linking the solvers to the models, both of which are created on different modeling paradigms and different system platforms, in unified system architecture. Specifically, this paper focuses on designing an ontology that represents the interfacing semantics of the model-solver interactions in a general and standardized form. By referring to the ontology, a model management system (MMS) can autonomously suggest a set of compatible solvers and apply them to individual models even though the decision makers are not knowledgeable enough about all the details of the models and the solvers. Thus, this Web services based MMS would improve the reusability of the solvers by relieving the decision makers from the risk of erroneous application of a solver to syntactically and semantically incompatible models and the burden of considerable understanding of model and solver semantics.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.1-10
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• 2021

This paper compares the performance of Fama-French three-factor and five-factor models using a dataset of 20 Pakistani commercial banks for the period 2011 to 2020. We focus on an emerging economy as the findings from earlier studies on developed countries cannot be generalized in emerging markets. For empirical analysis, twelve portfolios were developed based on size, market capitalization, investment strategy, and growth. Subsequently, we constructed five Fama-French factors namely, R_M, SMB, HML, RMW, and CMA. The OLS regression technique with robust standard errors was applied to compare the predictive power of both the Fama-French models. Further, we also compared the mean-variance efficiency of the Fama-French models through the GRS test. Our empirical analysis provides three unique and interesting findings. First, both asset pricing models have similar predictive power to explain the expected portfolio returns in most cases. Second, our results from the GRS test suggest that there is no noticeable difference in the mean-variance efficiency of one asset pricing model over the other. Third, we find that all factors of both Fama-French models are statistically significant and are important for explaining the volatility of expected commercial bank returns in the context of Pakistan.