• Knowledge Management Research
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• v.25 no.2
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• pp.193-218
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• 2024

The current study investigated the factors influencing the buyer's repurchase intention for second-hand products. This study first identified perceived risk and purchase value as the two primary influencing variables. Additionally, some exogenous variables influencing these two variables were examined. Statistical analysis using Partial Least Squares (PLS) revealed that product uncertainty, seller uncertainty, and site trust had statistically significant relationships with perceived transaction risk. However, while economic benefit showed a significant impact on purchase value, product scarcity and resale value did not exhibit a significant relationship with purchase value. Perceived transaction risk was found to have an insignificant relationship with repurchase intention, but indirectly influenced repurchase intention through purchase value. Purchase value was identified as having a significant influence on repurchase intention. Therefore, it was concluded that purchase value is the most important factor influencing repurchase intention in the purchase of second-hand products, while transaction risk indirectly influences repurchase intention through purchase value. The study indicates that product uncertainty and economic benefit are the most significant exogenous factors influencing transaction risk and purchase value, respectively.

• Journal of Distribution Science
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• v.13 no.1
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• pp.105-118
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• 2015

Purpose - The objective of this study is to verify whether there are differences between Korean and Chinese consumers in the importance of the attributes such as shopping value and loyalty in social commerce. With the purpose of finding out these differences, the following questions are set up as research questions. First, will there be a difference between Korea and China in the importance of attributes of social commerce? Second, will there be a difference between Korean and Chinese consumers in shopping value? Third, will there be a difference between Korean and Chinese consumers in their loyalty? Research design, data, and methodology - The researchers collected data through self-administered questionnaires from Korean and Chinese consumers who had used social commerce within the past six months before answering the questionnaire. First, for social commerce users in Korea, comprising male and female university students in Chungcheong, a questionnaire was circulated. For social commerce users in China, university students within Beijing were surveyed. Responses to 336 questionnaires were used, excluding those with no answers or unreliable answers. Data coding and data cleaning were used. SPSS 18.0 was used. First, exploratory factor analysis is done to verify the validity of testing tools, and Cronbach's α coefficient is used to verify credibility. For factor analysis, the Varimax method is used. To verify the internal consistency reliability of each factor, the Cronbach's α coefficient is used to verify the credibility. Second, a T-test is done to verify differences between Korean and Chinese consumers for the importance of attributes. Third, ANOVA (Analysis of variance) is done to verify differences between Korean and Chinese consumers in shopping value and loyalty. Results - When Korean and Chinese consumers use social commerce, first, the importance of the attributes of social commerce is affected by four factors; playfulness and economic factors are more important to Korean consumers than Chinese consumers. As for informativeness factors, including product information and quality, and buyer comments, there was no confirmed difference between Korean and Chinese consumers. The convenience factor is more important to Chinese consumers than Korean consumers. Second, the factors affecting shopping value for Korean and Chinese consumers were hedonic shopping value and rational shopping value. To see the difference between Korean and Chinese consumers in shopping value factors, a t-test is conducted. As a result, in the rational shopping value factors of social commerce, Korean consumers scored higher than did Chinese consumers. These results were verified to be meaningful through statistics. In the hedonic shopping value factor of social commerce, Korean consumers scored higher than Chinese consumers. These results showed a significant difference. Third, loyalty in social commerce is higher for Chinese consumers than for Korean consumers. However, there is no difference in loyalty depending on sex. Conclusions - These results will hopefully be valuable and used in the future by Korean companies that wish to enter the Chinese social commerce market.

• Cross-Cultural Studies
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• v.50
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• pp.103-130
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• 2018

This research aims to explore the associated linguistic features and functions of Chinese as used for business trading purposes, and which is based on a discourse analysis through a case in which a Korean buyer and a Chinese supplier have exchanged Internet based e-mails. The research questions include first, the linguistic functions and characteristics of Chinese shown as identified in this trade case through e-mails, second, the use of Chinese trade specific terms, and third, the apparent and dynamic negotiation strategies that are identified as followed by the cultural value systems which are used for resolving interest conflicts and issues between the buyer and supplier in the course of negotiating business contracts between two parties. The participants of this research pertain to a Korean buyer, James and a Chinese supplier, Sonya. The associated data consists of 74 e-mails exchanged between the two parties, initiated in an effort to begin and complete a trade item, in this case namely the product of napkin holders. The research for the study is based on the discourse analysis and empirically analyses models of Chinese linguistic functions and features. The findings are the following. First, as identified, the specific Chinese functions used and sequenced in this trade case are of a procedure, request, informing, negotiation and persuasion. Second, the essential trade terms used in this business interaction involve the relevant issues of 1) ordering and price negotiating, 2) marking the origin of the products, 3) the arrangement of the product examination and customs declaration for the anticipated import items, 4) preparation of the necessary legal documents, and 5) the package and transport of the product in the final instance. Third, the impact of the similarities and differences in the cultural value systems between Korea and China on the negotiations and conflict resolution during a negotiated contract between two parties are speculated in terms of the use of culturally based techniques such as face-saving and the utilization of uncertainty-avoiding strategies as meant to prevent misunderstandings from developing between the parties. The concluding part of the study discusses the implications for a practical Chinese language education utilizing the linguistic functions and features of the Chinese culture and language strategies as useful in business associations for trading purposes, and the importance of intercultural communication styles based on similar of different identified cultural values as noted between two parties.

• Korean Institute of Interior Design Journal
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• v.21 no.4
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• pp.96-105
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• 2012

The fundamental purpose of this study is whether Show Window Display actually affect on purchase and if it does, how much Show Window Display have influence on the buyer's satisfaction. Show windows are most important at clothing stores. The show open types of domestic clothing stores are usually open-type and semi open-type. Show Window Display types of low and middle prices stores are generally opened, horizontal and storied type and the shape, height, opening type and use of ground floor are different by regional distinct features. Generally Show Window Display are consisted by lights, mannequins and directed props. In buying patterns, an impulse buying has more stronger effect than a scheduled buying, a substituted buying and non-buying. An impulse buying are strongly affected by Design and others are prices. The reason why Show Window Display affecting on purchase is the satisfaction of Design and the strong stimulus to purchase(impulse buying), and then Show window Display used by all components strongly has an effect on it. Factors of purchase desires were Design, price and quality in order and factors of purchase motivations were the motivation of clothing design and the motivation of impulse buying. Thus the effects of Show Window Display and factors of purchase motivations are same. As a result of this study, differentiated Show Window Display methods of clothing stores affect the value of goods, the stimulus of purchase and fostering sales effectiveness. Therefore the instruction of Show Window Display methods are indicated by this study.

• Journal of Distribution Science
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• v.12 no.1
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• pp.35-46
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• 2014

Purpose - This Study aims to promote technology transfer commercialization and ultimately make contribution towards enhancement of the success rate of commercialization of technology transfer at national level by deducing the factors that impart influence on the negotiation at the time of technology trading between the seller and buyer of technology of public research institutions subjected to transfer and sales. Research design, data and methodology - This Study deduced 5 research hypotheses through preceding researches related to technology transfer commercialization related technology marketing for technology trading negotiation. This Study was conducted by verifying the hypotheses through multiple regression analysis. Results - As the result of the Study, the research hypothesis H1, 'Promotion of commercialization of technology transfer trading will be affected in accordance with the innate characteristic factors of the technology', and H5, 'Promotion of commercialization of technology transfer trading will be affected in accordance with the mutual factors of the parties of the technology trading', among the 5 research hypotheses were chosen. Conclusions - It was found that the technology seller must be able to demonstrate technological value of the technology being sold in order to successfully conclude technology transfer trading negotiation and mutual understanding and harmonious communication between the parties.

• Knowledge Management Research
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• v.12 no.4
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• pp.17-40
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• 2011

This study examines the differences of enacting models and influential causes of benefit-sharing practices between Korean automobile networks and the Japanese networks. The case study method is chosen for this research because only small numbers of supply networks adopt benefit-sharing practices. I employ semi-structured interviews with managers from four automobile manufacturers and eight of their suppliers in South Korea and Japan. I find that Japanese automobile networks have adopted a higher level of trust-demanding, with a higher level of value-creating models such as supplier development, joint-new-product development. Whereas, the Korean networks have adopted the lower trust demanding, also less profitable models such as supplier's suggestion and buyer's suggestion. In terms of work-related cultural values, I find that Japanese networks emphasized collectivism. Both buyers and suppliers in the Japanese networks are supposed to have common causes. In contrast, Korean networks emphasized individualism. Both buyers and suppliers of Korea generally do not identify that they are common group members with a common cause. I also find that a slight differences of the enacting models and the causes between foreign-owned networks and domestic-owned networks within each country. Foreign-owned networks have adopted lower trust demanding, also less profitable models. The findings demonstrate that the cultural values have a decisive influence on the adoption of benefit sharing models for the networks in Japan, and South Korea.

• Journal of Information Technology Services
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• v.15 no.3
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• pp.127-145
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• 2016

This paper aims to investigate empirically how brand trust can be formed from the customer-brand relationship through a direct use of firm's SNS in B2B context. The brand trust is fundamental elements to understanding of long-term relationship in a B2B context. To achieve the objectives of this study, data collection is through a personally administered questionnaire, and a total of 180 questionnaires was collected from the buyer or supplier who frequently visited partner's firm SNS. Excluding missing data, 120 usable data were analyzed. From the results, first, three SNS motivations (i.e. Information, social and entertainment) has a positive impact on the perceived value of SNS (i.e. perceived usefulness and perceived enjoyment). Second, the perceived usefulness and perceived enjoyment positively affect customer-brand relationship (brand intimacy, brand attachment). Third, the customer-brand relationship is positively related to brand trust. Implications, limitations and future research directions of the study were also discussed. These findings help managers in developing and implementing the relation between SNS use and a customer-brand relationship for long-term relationship in B2B.

• Journal of the Korean Society of Costume
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• v.54 no.3
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• pp.53-64
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• 2004

The study was done to provide domestic fashion multi-shops with basic information about the product and price strategies through an investigation the marketing strategies for domestic multi-shop dealt with imported product only. Data were collected from Interview with a buyer or a staff of marketing department of Domestic Fashion Multi-shop dealt with Imported Product only. Through the study, it was clarified that these multi-shops showed a tendency to compose of promising brands. brands set a high value on unique character or technique, and brands of promising designer noticed at the main collection. And they also extended their lines as a total life style shop dealt with accessory. shoes and home collection as well as clothing. Therefore, they had to analyze their target consumer's life style and applied this to organization of product, brands or sizing. To maintain the balance of multi-shop they bought products keeping the balance between all the brands and didn't lose variety of concept, it was demanded to develop new brands as well. Their distribution channels had to be planned by regional characteristic that could be accepted their target consumers.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.54
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• pp.3-44
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• 2012

Shipbuilding industry is one of the most influential ones in Korea. As shipbuilding industry is labor-intensive, it contributes to enhancing both local economy and national economy. Shipbuilding industry has been downsizing since the end of 2008 due to global financial crisis caused by America's sub-prime mortgage and aggravated by European countries' fiscal deficit. As a large fund is required for a single normal shipbuilding contract, fund raising is one of the most important elements in shipbuilding contract. Shipbuilding contract, requires refund guarantee in order for a buyer to reimburse the progressive payment paid to a builder. The disputes under shipbuilding contracts are mostly settled by arbitration rather than by law suit. English laws and English courts have been preferred for the choice of law as well as for the choice of forum. Due to depreciation of the ship value since the end of 2008, a number of buyers are trying to cancel the contract by raising unjust claim under the contract. Once disputes occurs regarding shipbuilding contract, a large amount of loss is inevitable. In order to mitigate the disputes arising from the shipbuilding contract, careful caution is required in drafting a shipbuilding contract.

• Journal of the Korean Mathematical Society
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• v.41 no.3
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• pp.513-533
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• 2004

We present the pricing and hedging method for options with general payoffs in the presence of transaction costs. The convexity of the payoff function-gamma of the options- is an important issue under transaction costs. When the payoff function is convex, Leland-style pricing and hedging method still works. However, if the payoff function is of general form, additional assumptions on the size of transaction costs or of the hedging interval are needed. We do not assume that the payoff is convex as in Leland 〔11〕 and the value of the Leland number is less (bigger) than 1 as in Hoggard et al. 〔10〕, Avellaneda and Paras 〔1〕. We focus on generally recognized asymmetry between the option sellers and buyers. We decompose an option with general payoff into difference of two options each of which has a convex payoff. This method is consistent with a scheme of separating out the seller's and buyer's position of an option. In this paper, we first present a simple linear valuation method of general payoff options, and also propose in the last section more efficient hedging scheme which costs less to hedge options.