• Title/Summary/Keyword: equity research

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The Effect of International Franchise Corporate's Service Quality and Customer Assets on Corporate Performance: Focused on the Vietnam Market (국제 프랜차이즈 기업의 서비스품질과 고객자산이 기업성과에 미치는 영향: 베트남 시장을 중심으로)

  • Ock, Jung-Won;Yun, Dae-Hong;Anh, Le Thi Minh
    • Korea Trade Review
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    • v.43 no.3
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    • pp.27-46
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    • 2018
  • By conducting a survey on Vietnamese customers' attitude towards domestic and international franchise coffee shops, the purpose of this research is to examine the impacts of service quality and customer equity on customer satisfaction, customer trust and customer loyalty. Based on this research's results, solutions for service improvements were considered to help franchise coffee shops improve customer satisfaction, customer trust and customer loyalty. Specific results were as follows. First results suggest that service quality has positive impact on customer satisfaction and customer trust. Secondly, in terms of customer equity, relationship equity has positive impacts on customer satisfaction and customer trust; However, although brand equity has positive impacts on customer satisfaction, it does not affect customer trust. Finally, customer trust has direct and positive influences on customer satisfaction and customer loyalty. Based on these results, this research proposes practical and theoretical implications and limitations for future research.

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Brand Equity and Purchase Intention in Fashion Products: A Cross-Cultural Study in Asia and Europe (상표자산과 구매의도와의 관계에 관한 국제비교연구 - 아시아와 유럽의 의류시장을 중심으로 -)

  • Kim, Kyung-Hoon;Ko, Eun-Ju;Graham, Hooley;Lee, Nick;Lee, Dong-Hae;Jung, Hong-Seob;Jeon, Byung-Joo;Moon, Hak-Il
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.245-276
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    • 2008
  • Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

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A Study on the Relationship among Jecheon City Brand Equity, City Reputation and Travel Intention : Focusing on University Students (제천시 도시브랜드 자산과 도시평판, 관광의도와의 관계 연구 -대학생을 중심으로-)

  • Moon, Hyo-Jin
    • The Journal of the Korea Contents Association
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    • v.19 no.3
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    • pp.548-556
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    • 2019
  • Effective city brand management provides a variety benefits to the city. The city with brand equity can motivate their customers to visit the city regularly, and it can also affect their recommendation as an attractive tourist destination. This study aims to explore the concept of city brand equity and city reputation as a way to attract domestic and foreign tourists at a time when local governments are interested in and working to strengthen them. Research has shown that the city brand equity can have a positive impact on improving the city's reputation, and that the city brand equity can have a positive impact on travel intention as well. Furthermore, in relation to the city brand assets, the city reputation, and travel intention, it has been confirmed that the city brand equity has a direct effect on the travel intentions and that the city brand equity has an indirect effect on travel intention through the medium of the city reputation. It can be seen that cities should strive to manage the first and second city brand as a way to attract tourists.

A Study on the Value Relevance of Securities Firm's Net Operating Capital (증권회사 영업용순자본의 가치관련성에 관한 연구)

  • Seokhee Cho
    • Asia-Pacific Journal of Business
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    • v.14 no.1
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    • pp.327-340
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    • 2023
  • Purpose - The purpose of this study is to examine the information effect of securities firm's net operating capital, securities firm's regulatory purposes capital, by analyzing the value relevance of net operating capital. Design/methodology/approach - This study was empirically analyzed using samples of domestic listed securities firms in the past 12 years, and multiple regression analysis and Vuong (1989) test were used together as specific research methods. Findings - First, it was found that the net operating capital of securities firms has an incremental value relevance that is added to basic accounting information (equity book value, profit or loss information). Second, after classifying equity capital on the books into net operating capital and the rest of equity capital, the value relevance of net operating capital was significantly higher than that of other equity capital. Research implications or Originality - The results of this study indicate that the level of regulatory capital in the securities industry can be used in the process of evaluating firm value in the capital market, and it is significant in that capital market evaluation can be stratified according to regulatory purposes.

A Study on the Relationship between Marketing Activities and Brand Equity in Nonprofit Organizations : Focused on the Donation Market of Charitable Organizations (비영리조직의 마케팅 활동과 브랜드 자산 간 관계에 관한 연구: 자선모금기관의 기부시장(donation market)을 중심으로)

  • Lee, Dong-Young;Byun, An-Gie
    • Korean Journal of Social Welfare
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    • v.59 no.2
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    • pp.303-325
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    • 2007
  • This study explores the relationship between marketing activities and brand equity in nonprofit organizations, specifically investigating the relational linkage between four selected marketing mix elements and brand equity through the mediating role of brand equity dimensions. Employing a structural equation model, the study empirically tests research hypotheses and finds some important implication for brand equity creation strategies for nonprofits. The results show that brand association is the only dimension that is positively related to brand equity, reflecting the current donation market in Korea where nonprofits have such a low presence that donors have little knowledge and chance to identify their brands and to build trust relationships with them. Furthermore, the results highlight the importance and roles of promotion and process marketing efforts, as they are proved to enhance brand association. The study also finds that promotion is positively related to brand awareness and process contributes to perceived quality and brand loyalty. Based on these findings, the study suggest that nonprofits make further efforts on active promotion and process development to create positive, differentiated images and better accessibility, and finally improve their brand equity.

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A Study on the Influencing Relationship among Image of the Festival, City Brand Equity, and Regional Loyalty (축제 이미지, 도시브랜드자산, 지역 애호도 간의 영향관계 연구)

  • Um, Jiyoung;Seo, Jungah;Yoon, Sunyoung
    • Journal of Service Research and Studies
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    • v.7 no.3
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    • pp.1-19
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    • 2017
  • The purpose of this study is to analyze the influencing relationship among image of the festival, city brand equity, and regional loyalty. For the study, questionnaires were handed out to the visitors of 2015 Andong International Maskdance Festival and a total of 289 copies were collected carrying out frequency analysis, factor analysis, multiple regression analysis, descriptive statistic analysis, correlation analysis, and structure equation model analysis. The result showed that image of the festival had influence on city brand equity and city brand equity had influence on regional loyalty. However, image of the festival did not have direct influence on regional loyalty. This research is expected to further extend the study of image of the festival and city brand equity, and the study of Andong International Maskdance Festival

A Study on the Convergence of Spatial Equity of Medical Welfare Facilities for Older Persons and Services (노인의료복지시설과 서비스의 공간적 형평성 융합 연구)

  • Lee, Seong-Jin;Youn, Ki-Hyok
    • Journal of Internet of Things and Convergence
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    • v.6 no.2
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    • pp.65-72
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    • 2020
  • The study aims to measure and analysis the spatial equity of Medical welfare facilities for older persons and services, and, based on this, to seek the plan to secure the fairness. To this end, the research was carried out by converging the studies of geography and regional development for the equity of social welfare studies and space arrangement on types and functions of Medical welfare facilities for older persons. The main results of the study showed that, first, in case of the spatial arrangement(desire-to-service), Medical welfare facilities for older persons are located in all areas of cities(Si) and counties(Gun) but mostly existing in cities. Second, in case of the equity of regional distribution of Medical welfare facilities for older persons, it can say the equity in Gun is higher than Si, comparing the regions of Si and Gun. Third, in case of spatial equity of sanatorium for older persons, the spatial equity of care facilities for older persons showed statistical difference depending on the time required to reach the facility, but no difference on distance. This study made various suggestions based on the results of the above research, and suggested the necessity of convergence studies grafting technologies such as AI and the Internet of Things.

A Study on the Factors Affecting the Customer Equity Value Management and CRM Capability (CRM 성과에 영향을 미치는 요인에 관한 실증적 연구 : '고객자산가치관리역량' 매개효과 중심으로)

  • Cho, Mun-Je;Chung, Yoon
    • Asia pacific journal of information systems
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    • v.16 no.4
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    • pp.71-101
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    • 2006
  • Modern companies have heavily invested in developing CRM systems without explicitly knowing how the systems improve customer relationship management. Many researchers have attempted to find the factors that contribute to the success of CRM systems. However, most research have investigated the direct relationships between CRM success factors and system success without explaining how the factors contribute to the system success. It seems to be logical to think that success factors enhance the customer equity value management (CEVM) capability of the firms and then these capabilities are the foundation for the success of systems. In this study, we developed a CRM success model that includes CEVM capability as a mediating variable. The research followed the following steps: (1) CRM success factors that have theoretical relationship with CEVM capability are identified and categorized, (2) the theoretical relationship between CEVM capability and CRM performance is established in the perspective of strategic CRM, and (3) the research model is tested with the survey data collected from Korean firms.

A Study on Applying the Ground Source Heat Pump System in Greenhouse and Livestock Facility (지열 시스템의 원예시설과 축사시설 적용에 관한 연구)

  • Jang, Jea-Chul;Kang, Eun-Chul;Song, Jun-Ik;Kim, Ji-Young;Lee, Euy-Joon
    • Journal of the Korean Society for Geothermal and Hydrothermal Energy
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    • v.5 no.2
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    • pp.1-6
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    • 2009
  • In this paper, RETScreen program model has been investigated to predict the economic analysis for greenhouse and livestock facility. Load calculation result was 35.2[kW] of greenhouse and the calculation result of livestock facility was 35.5[kW]. Also, a case study of the RETScreen program indicated that the equity payback is 6.9 years for a greenhouse facility and the equity payback is 9.5 years for a livestock facility.

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A Study of Financial Performance using DuPont Analysis in Food Distribution Market

  • Kim, Hak-Seon
    • Culinary science and hospitality research
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    • v.22 no.6
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    • pp.52-60
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    • 2016
  • This study attempts to measure the financial performance of the food distribution company. In order to achieve the goal, this study have measured the ratios of ROE, ROA applying the DuPont analysis, which have been demonstrated with tables to show the change periodically. DuPont analysis is based on analysis of Return on Equity (ROE) & Return on Investment (ROI). The return on equity disaggregate performance into three components: Net Profit Margin, Total Asset Turnover, and the Equity Multiplier. The return on investment consists of Assets Turnover (Operating Income${\times}$Total Assets) and Profit Margin (EBIT${\times}$Operating Income). From the study it if found that Hyundae Green Food's Financial performance is high followed by Foodmerce and then Dongwon home food and Lotte Food. The four companies are significant at their level. In conclusion, ROE & ROI is the most comprehensive measure of profitability of a firm. It considers the operating and investing decisions can be made as well as the financing and their leverage-related decisions.