• Communications for Statistical Applications and Methods
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• v.27 no.6
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• pp.689-699
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• 2020

This study investigates the effect of life settlement on the monopolistic insurance market. In particular, we consider liquidity cost, which is the cost incurred to the insurer to meet the request of surrender, and trading cost, which is the transaction cost of the policyholders for the settlement. We first show that the introduction of a life settlement can increase insurance demand and enhance consumer welfare even when the trading cost is higher than the liquidity cost. That is, even if the settlement market is less efficient than the insurance market, both insurance demand and consumer welfare can be increased. Second, the insurer's profit can also be increased when settlement is introduced because not only can the insurer save the liquidity cost but also the demand of insurance increases. Lastly, insurance demand does not always decrease when both costs increase. Depending on the population distribution over the liquidity risk, the demand of insurance can be increased or decreased.

• Asia Marketing Journal
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• v.18 no.4
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• pp.51-76
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• 2017

Although much attention has been paid to customer satisfaction (CS) as a leading indicator of firm performance, few studies have investigated the role of CS distribution across individual customers. With 10 years of National Customer Satisfaction Index (NCSI) data in Korea, we examine the relationship between the variance of CS and key corporate performance measures such as revenue, profit, Tobin's q, and stock return. There are three main findings. First, we confirm the findings of previous studies that the average CS for a firm is related to the firm's economic performance. Second, we find a moderating effect of CS variance such that the relationship between the level of CS and firm performance is attenuated by the variance of CS. Finally, the variance of CS is found to directly affect firm performance over and above the CS level effect. More specifically, the variance decreases sales and stock return.

• Journal of Digital Convergence
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• v.10 no.9
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• pp.239-251
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• 2012

This study aims to seek the policies and the plans for the successful small business start-up through an exploratory study about the factors affecting the success rate of small business start-up. To measure the performance of the start-up business(sales revenue, net profit, and outcome expectancy), the characteristics of founders (experience, psychological characteristics) and the preparation of small business start-up were measured as independent variables and the self-efficacy was measured as a parameter. 427 small business owners were targeted and structured self-administered questionnaires were collected from them. For the data process, a multiple regression analysis by SPSS 18.0 was conducted. The findings demonstrated the experience in the same business, the need for achievement, the risk-taking propensity, the preparation period for business start-up had a significant effect on self-efficacy, and experience of failure and the ratio of net worth had a significant effect on sales revenue and net profit, and the locus of control had a significant effect on outcome expectancy through the self-efficacy, a parameter. It was also noted the self-efficacy of small business owners and the business performance varied depending on the characteristics of them and the preparation process of the business start-up. Based on the those findings, the theoretical and practical implications were discussed and the suggestions about the limits of the study, future policies and studies were made.

• Korea Trade Review
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• v.48 no.3
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• pp.43-68
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• 2023

In this study, in relation to "Chapter 3 Support for Priority Purchase of Technology Development Products" of the 「Market Channel Support Act」, this study investigated the positive growth impact of technology development products subject to preferential purchase on small and medium sized enterprises. The data used for empirical verification is for 371 companies that obtained certification for technology development products subject to preferential purchase in 2016 and Data from SMEs were collected from 2017 to 2021, Sales, operating profit, and net profit was identified, and empirical verification. And conducted through statistical analysis to determine whether it had a positive effect on the growth factors of SMEs. In addition, data from 225 technology development product certification companies were collected, and empirical testing was conducted through t-test analysis on the change in growth factors before and after acquiring certification. As a result of statistical analysis, it was found that the total assets, certified sales, operating profit, and net profit, which are the growth factors of a company, are all positively affected according to the type of technology development product certification. However, in the case of authentication types, some authentications showed significant negative results. In addition, significant results were derived that after acquiring certification had a positive effect on growth factors than before acquiring certification. Consistent with this conclusion, I think that it is effective for technology development-based SMEs to enter the public procurement market and utilize the technology development product priority purchase policy for market exploitation and corporate growth. And the government should strengthen the market support policy to create demand so that SMEs can enter the procurement market and actively utilize the preferential purchase system, and come up with an improvement plan so that public institutions can actively utilize the preferential purchase system.

• Journal of Information Technology Applications and Management
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• v.27 no.3
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• pp.77-92
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• 2020

As mobile shopping has been increasing, the competition has been also increasing to satisfy various consumers' needs. Despite such increase in terms of the volume of the consumers who use mobile shopping, there has been very few studies to examine characteristics of mobile shopping malls. The purpose of this empirical study is to investigate the effect of characteristics of mobile shopping malls on consumer loyalty and the interaction effect of the O2O experience on the relationship between the characteristics of mobile shopping malls and consumer loyalty. Using a sample of 276 individuals who have experienced mobile shopping, we found that certain characteristics such as ubiquity, personalization, or convenience have a positive impact on consumer loyalty and a design characteristic solely has an interaction effect on consumer loyalty. As consumer loyalty has a critical factor on mobile shopping mall's profit, examining which factor has a positive effect on consumer loyalty is beneficial for mobile shopping malls. The results of the study have both practical and empirical implications.

• Journal of Convergence for Information Technology
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• v.11 no.9
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• pp.94-108
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• 2021

This study is to identify the internal and external factors of a company that can affect the rate of change in the inventory turnover ratio. In addition, by appropriately managing or responding to these factors, changes in the inventory turnover ratio do not occur abruptly, so that the company's business and financial performance can be improved. To confirm this, factors such as gross profit margin, cash flow volatility, advertising expenses, inflation, exchange rate rise, and leading economic index were selected, and these factors were predicted to affect the change rate of inventory turnover. Data of 85,878 companies were obtained from domestic securities listings, KOSDAQ listings, and externally audited companies, and multiple regression analysis was performed using the data. Gross profit margin and cash flow volatility have a significant positive (+) effect, advertising expenses have a negative (-) significant effect, and inflation and exchange rate rises have a negative (-) significant effect. As an influence, the leading economic index was tested to have a significant positive (+) effect. Through this, it is suggested that manufacturing companies can improve their business performance and achieve operational efficiency by well understanding and appropriately managing factors that can affect the change rate of inventory turnover.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.1-16
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• 2023

Due to the progress of the 4th industrial revolution and the COVID-19 pandemic, the subscription economy was rapidly expanding. In particular, the subscription economy was expected to expand further as the servicing of products(servitization) rapidly progresses. In this study, we tried to empirically analyze the factors that promote and hinder the spread of the subscription economy from the consumer's point of view. To this end, based on the Service Profit Chain (SPC) model, which identified mechanisms leading from quality to satisfaction, loyalty, and performance, a research model was established by combining the framework of the Value-based Adoption Model (VAM), which covers both benefit and sacrifice factors. Usefulness and convenience were derived as benefit factors, and perceived risks and perceived costs were derived as sacrifice factors. The effects of these factors on satisfaction and continuous use intention were analyzed. For empirical analysis, a survey was conducted targeting people who have experience in subscription economy, and 300 effective samples were analyzed. The analysis was performed as a structural equation model using AMOS 24. As a result of the empirical study, it was found that convenience had a significant positive (+) effect on satisfaction. Perceived risk and perceived cost were analyzed to have a negative (-) effect on satisfaction. On the other hand, usefulness was found to have no significant effect on satisfaction. The influences affecting satisfaction were in the order of perceived cost, convenience, and perceived risk. Satisfaction was found to have a significant positive (+) effect on continuous use intention. The results of this study were considered meaningful in that they broadened the horizons of research by combining existing validated models at the academic level and testing their validity, and found that perceived cost was still an important factor at the practical level.

• Journal of Distribution Research
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• v.3 no.1
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• pp.123-143
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• 1998

The aim of this paper is to investigate the women's apparel distribution channel in the well-known department stores located in the central Seoul area. Since the department store has its reputation, information and enormous buying power, it is the one of the major leading retails in the women's apparel industry. In doing so, the relationship between the channel members in terms of the level of dependence, power sources and perceived conflict and manifest conflict has been studied. Particularly, based on French and Raven's power sources, position source is added. It refers to a channel member's (Merchandizer in the department store) source over another based on the expection the former (Merchandizer in the department store) will be able to allocate the location and size of the store influencing the latter's sale and profit. The key informants are the merchandizers who work in the apparel companies contracting with major department stores. Finally, of the 284 questionnaires collected, 235 are usable. The hypotheses are tested through LISREL. The results of statistical analysis support that : Dependence has a positive effect on noncoercive bases of power. Coercive bases of power have a positive effect on manifest conflict as well as perceived conflict while noncoercive bases of power have a negative effect mainly on manifest conflict. Thus, the relation between the major department stores and the women's apparel companies in there seems to have bilateral dependence rather than highly unilateral dependence.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.157-166
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• 2020

Firms perform various actions that affect management performance measurement by managing the volatility and capital cost of reported income through income smoothing. This study attempted to analyze with a focus on the relationship between managerial competence and income smoothing. Therefore, this study attempted to analyze and focus on the relationship between managerial competency and profit softening using a measure of managerial competency presented in Demerjian et al. (2012). The results of the analysis are as follows. It was confirmed that there was a significant positive relationship between manager ability and income smoothing at the 1% level. When managers make income, it can be interpreted that managers with superior ability can make profits better by accurately predicting the future. It is the same result as the expectation of this study that managers with excellent ability have high incentives to soften profits by reducing profit volatility through more accurate forecasting. Therefore, this study empirically analyzed that managers with excellent abilities are more effective in implementing income smoothing strategies.

• Korean Journal of Applied Biomechanics
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• v.27 no.3
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• pp.211-217
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• 2017

Objective: The purpose of this study was to investigate the effect of a 12-week professional body massage program (PMP) on forward head posture, neck pain, and plantar foot pressure balance in men in their 20s. Method: A total of 20 men with musculoskeletal diseases were recruited for this study. The participants were asked to take part in a PMP twice a week for 12 weeks. The cranial vertical angle (CVA) for forward head posture and visual analogue scale (VSC) for neck pain and right/left foot plantar pressure balances were extracted to compare between pre- and post-program differences. Results: CVAs before ($56.86{\pm}4.55^{\circ}$) and after ($62.72{\pm}4.57^{\circ}$) and VSCs before ($6.95{\pm}1.70$) and after ($1.70{\pm}1.56$) PMP revealed statistically significant differences. The right foot, after PMP, showed a significant increase in the plantar pressure balance from $46.17{\pm}2.95$ to $49.44{\pm}1.29%$, while the left foot decreased significantly from $53.83{\pm}2.95%$ to $50.56{\pm}1.29%$. Therefore, based on these results, it may be said that the foot pressure balance abilities were improved after PMP because the ideal foot pressure ratio is 50%. Conclusion: Consequently, it was suggested that a 12-week PMP could be utilized for improvement of forward head posture, neck pain, and foot plantar pressure balance in men in the 20s with musculoskeletal diseases.