Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.199
Qun Wang, Moon-Hong Kim
Purpose - This study aims to investigate the motivations of product enthusiasts in China's network marketing industry to engage in independent business activities, using an extended Theory of Planned Behavior as the theoretical framework. Additionally, it explores the moderating role of prior knowledge of network marketing. Design/Methodology/Approach - By integrating perception as a variable, this research assesses its influence on the entrepreneurial intentions of product loyalists within China's network marketing sector. Furthermore, the study examines how prior knowledge of network marketing affects the relationships among attitude, subjective norms, perceived behavioral control, perception of network marketing, and intent. Findings - The results indicate that variables derived from the extended Theory of Planned Behavior, including attitude, subjective norms, perceived behavioral control, and awareness, positively impact individual intentions to become independent network marketers. Notably, perceived control and awareness also influence actual behavior. Moreover, prior knowledge serves as a moderator for all pathways, except in the relationship between perceived control, awareness, and intention. Research Implications - Network marketing companies should prioritize maintaining high product quality to establish consumer trust. Engaging in corporate social responsibility initiatives can enhance company image. Consistent education for consumers about network marketing can help foster entrepreneurial intentions among potential independent business owners.
{"title":"A Study on the Intention of Product Loyalists to Act as Independent Entrepreneurs in China’s Network Marketing Industry: Focused on the Extended Theory of Planned Behavior","authors":"Qun Wang, Moon-Hong Kim","doi":"10.16980/jitc.19.5.202310.199","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.199","url":null,"abstract":"Purpose - This study aims to investigate the motivations of product enthusiasts in China's network marketing industry to engage in independent business activities, using an extended Theory of Planned Behavior as the theoretical framework. Additionally, it explores the moderating role of prior knowledge of network marketing. Design/Methodology/Approach - By integrating perception as a variable, this research assesses its influence on the entrepreneurial intentions of product loyalists within China's network marketing sector. Furthermore, the study examines how prior knowledge of network marketing affects the relationships among attitude, subjective norms, perceived behavioral control, perception of network marketing, and intent. Findings - The results indicate that variables derived from the extended Theory of Planned Behavior, including attitude, subjective norms, perceived behavioral control, and awareness, positively impact individual intentions to become independent network marketers. Notably, perceived control and awareness also influence actual behavior. Moreover, prior knowledge serves as a moderator for all pathways, except in the relationship between perceived control, awareness, and intention. Research Implications - Network marketing companies should prioritize maintaining high product quality to establish consumer trust. Engaging in corporate social responsibility initiatives can enhance company image. Consistent education for consumers about network marketing can help foster entrepreneurial intentions among potential independent business owners.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.127
Won-Ki Hong
Purpose - This research aims to analyze the effect of consumer lifestyle on the acceptance intention of fully autonomous vehicles, and the mediating effect of the safety of fully autonomous vehicles as the commercialization of fully autonomous vehicles approaches. Design/Methodology/Approach - This research consisted of an online survey of 353 male and female adults in their 20s and order. The main variables are lifestyle, acceptance intention, and safety. To analyze the influence relationship, regression analysis was performed through SPSS, and mediation effect analysis was performed using Process Macro Model 4. Findings - Consumer lifestyle affects fully autonomous vehicle acceptance intention and safety, and it has been proven that the safety of a fully autonomous vehicle has a mediating effect on the effect of consumer lifestyle on the intention to accept the fully autonomous vehicle. Research Implications - First, the results proved that lifestyle is a new key variable in research on fully autonomous vehicles. Second, since safety has a mediating effect in the relationship between lifestyle and intention to accept fully autonomous vehicles, it was confirmed that safety is also an important factor. Third, in order to increase willingness to accept fully autonomous vehicles, it is necessary to segment the market based on consumer lifestyle above all else, and to develop a marketing strategy tailored to the characteristics of each lifestyle. Forth, in order to increase consumer awareness of the safety of fully autonomous vehicles, it is necessary to provide consumers with experiences based on Augmented Reality and XR technologies.
{"title":"The Effect of Consumer Lifestyle on the Acceptance Intention of Fully Autonomous Vehicles: Focusing on the Mediating Effect of Safety","authors":"Won-Ki Hong","doi":"10.16980/jitc.19.5.202310.127","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.127","url":null,"abstract":"Purpose - This research aims to analyze the effect of consumer lifestyle on the acceptance intention of fully autonomous vehicles, and the mediating effect of the safety of fully autonomous vehicles as the commercialization of fully autonomous vehicles approaches. Design/Methodology/Approach - This research consisted of an online survey of 353 male and female adults in their 20s and order. The main variables are lifestyle, acceptance intention, and safety. To analyze the influence relationship, regression analysis was performed through SPSS, and mediation effect analysis was performed using Process Macro Model 4. Findings - Consumer lifestyle affects fully autonomous vehicle acceptance intention and safety, and it has been proven that the safety of a fully autonomous vehicle has a mediating effect on the effect of consumer lifestyle on the intention to accept the fully autonomous vehicle. Research Implications - First, the results proved that lifestyle is a new key variable in research on fully autonomous vehicles. Second, since safety has a mediating effect in the relationship between lifestyle and intention to accept fully autonomous vehicles, it was confirmed that safety is also an important factor. Third, in order to increase willingness to accept fully autonomous vehicles, it is necessary to segment the market based on consumer lifestyle above all else, and to develop a marketing strategy tailored to the characteristics of each lifestyle. Forth, in order to increase consumer awareness of the safety of fully autonomous vehicles, it is necessary to provide consumers with experiences based on Augmented Reality and XR technologies.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"146 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.315
Eun-Jin Kim, Y. Yoon, Mi-Seong Kim
Purpose - This study aims to investigate the effect of introducing experiential factors on the willingness to pay a premium at fairs with a case study of International Horticlture Goyang Korea 2023. Design/Methodology/Approach - The study utilized a contingent valuation method (CVM) to derive willingness to pay a premium. An online survey was conducted among general participants of International Horticlture Goyang Korea 2023. A total of 1,090 responses were collected, and 628 valid responses were used for CVM analysis. Findings - As a result of the analysis, the per capita willingness to pay (WTP) a premium for International Horticlture Goyang Korea was estimated at KRW 2,081.12. Based on this, the amount of additional revenue that can be generated through experience fee revenue in the future can be estimated at 832,440,000 won (assuming an average of 400,000 visitors). Research Implications - This study is significant because it explored the economic aspects of holding a sustainable fair. The results show that participants are willing to pay a premium for the experience. Based on these results, it is expected that additional revenue can be generated, and in the future, financial independence and economic sustainability can be secured.In addition, this study is significant in that it introduces willingness to pay a premium , which has been used mainly in the tourism sector, to the exhibition and trade fair sector. It can serve as a cornerstone for research on willingness to pay a premium that can increase the value of trade fairs in the future.
{"title":"The Impact of Introducing Experiential Factors on Willingness to Pay a Premium at Fairs: An Application of the Contingent Valuation Method","authors":"Eun-Jin Kim, Y. Yoon, Mi-Seong Kim","doi":"10.16980/jitc.19.5.202310.315","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.315","url":null,"abstract":"Purpose - This study aims to investigate the effect of introducing experiential factors on the willingness to pay a premium at fairs with a case study of International Horticlture Goyang Korea 2023. Design/Methodology/Approach - The study utilized a contingent valuation method (CVM) to derive willingness to pay a premium. An online survey was conducted among general participants of International Horticlture Goyang Korea 2023. A total of 1,090 responses were collected, and 628 valid responses were used for CVM analysis. Findings - As a result of the analysis, the per capita willingness to pay (WTP) a premium for International Horticlture Goyang Korea was estimated at KRW 2,081.12. Based on this, the amount of additional revenue that can be generated through experience fee revenue in the future can be estimated at 832,440,000 won (assuming an average of 400,000 visitors). Research Implications - This study is significant because it explored the economic aspects of holding a sustainable fair. The results show that participants are willing to pay a premium for the experience. Based on these results, it is expected that additional revenue can be generated, and in the future, financial independence and economic sustainability can be secured.In addition, this study is significant in that it introduces willingness to pay a premium , which has been used mainly in the tourism sector, to the exhibition and trade fair sector. It can serve as a cornerstone for research on willingness to pay a premium that can increase the value of trade fairs in the future.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.147
Sung-Goo Hong, Jang-Woo Choi
Purpose - This study analyzes the Middle Eastern market through qualitative analysis through SWOT analysis and STP strategy, solves the difficulties of Korean companies currently exporting to Saudi Arabia, and expands the MRA effect through mutual promotion between the two countries to other countries in the Middle East. Design/Methodology/Approach - This research aimed to establish 3C, PEST, SWOT, STP strategies by conducting market environment analysis in the Middle East through the theoretical background and preceding research on the AEO system and AEO MRA, It focused on Saudi Arabia, which has a future national vision in the Middle East. Findings - The result showed that Saudi Arabia is Korea’s 7th largest trading partner. In order to handle the difficulties of non-tariff barriers and delays in customs clearance in the Middle East and Saudi Arabia, it is necessary to actively conclude an AEO MRA. This is a good chance for Korean companies to create a second boom in the Middle East. Research Implications - Saudi Arabia has yet to sign an AEO MRA with Korea. However, as part of the Saudi Vision 2030, Korean companies need to enter various fields such as civil engineering, construction, and energy. There are yet many non-tariff barriers and logistics flow delays in the Middle East. It is time to enter into the AEO MRA system with Saudi Arabia.
{"title":"A Study on the Expansion of AEO MRA into the Middle East: Focusing on Saudi Arabia","authors":"Sung-Goo Hong, Jang-Woo Choi","doi":"10.16980/jitc.19.5.202310.147","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.147","url":null,"abstract":"Purpose - This study analyzes the Middle Eastern market through qualitative analysis through SWOT analysis and STP strategy, solves the difficulties of Korean companies currently exporting to Saudi Arabia, and expands the MRA effect through mutual promotion between the two countries to other countries in the Middle East. Design/Methodology/Approach - This research aimed to establish 3C, PEST, SWOT, STP strategies by conducting market environment analysis in the Middle East through the theoretical background and preceding research on the AEO system and AEO MRA, It focused on Saudi Arabia, which has a future national vision in the Middle East. Findings - The result showed that Saudi Arabia is Korea’s 7th largest trading partner. In order to handle the difficulties of non-tariff barriers and delays in customs clearance in the Middle East and Saudi Arabia, it is necessary to actively conclude an AEO MRA. This is a good chance for Korean companies to create a second boom in the Middle East. Research Implications - Saudi Arabia has yet to sign an AEO MRA with Korea. However, as part of the Saudi Vision 2030, Korean companies need to enter various fields such as civil engineering, construction, and energy. There are yet many non-tariff barriers and logistics flow delays in the Middle East. It is time to enter into the AEO MRA system with Saudi Arabia.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.293
So-Youn Kim, S. Ryu
Purpose - The WTO and World Bank have pointed out the phenomenon of deglobalization. Despite this, Asian countries are pursuing closer cooperation with other countries in the region and around the world. Accordingly, this study analyzes the impact of deglobalization on the economic growth of Asia-Pacific countries through non-linear relationships. We use 33 Asia-Pacific nation’s panel data from 1990, when globalization rapidly increased, to 2020, when deglobalization saw progress. Design/Methodology/Approach - We analyze the spatial panel regression model using the AMG (Augmented Mean-Group) estimation method, which controls for cross-sectional dependence between countries in panel data and country-specific slope coefficient heterogeneity in the panel model. Findings - As a result of the estimation, there is an inverted U-shaped relationship between deglobalization and Asia-Pacific economic growth. As deglobalization occurs up to 50.11%, economic growth increases, but as deglobalization continues past 50.11%, economic growth decreases. Research Implications - Countries with less deglobalization must increase economic growth through policies that protect their own industries, and countries whose level of deglobalization exceeds the threshold must open international relations and pursue economic growth through mutual cooperation and economic integration. In the long term, deglobalization threatens Asia's integrated development and sustainable growth, so globalization, free trade, and multilateralism must be maintained.
{"title":"A Study on the Impact of Deglobalization on the Economic Growth of Asia-Pacific Countries: Nonlinear Relationship Analysis using Spatial Panel Regression Model","authors":"So-Youn Kim, S. Ryu","doi":"10.16980/jitc.19.5.202310.293","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.293","url":null,"abstract":"Purpose - The WTO and World Bank have pointed out the phenomenon of deglobalization. Despite this, Asian countries are pursuing closer cooperation with other countries in the region and around the world. Accordingly, this study analyzes the impact of deglobalization on the economic growth of Asia-Pacific countries through non-linear relationships. We use 33 Asia-Pacific nation’s panel data from 1990, when globalization rapidly increased, to 2020, when deglobalization saw progress. Design/Methodology/Approach - We analyze the spatial panel regression model using the AMG (Augmented Mean-Group) estimation method, which controls for cross-sectional dependence between countries in panel data and country-specific slope coefficient heterogeneity in the panel model. Findings - As a result of the estimation, there is an inverted U-shaped relationship between deglobalization and Asia-Pacific economic growth. As deglobalization occurs up to 50.11%, economic growth increases, but as deglobalization continues past 50.11%, economic growth decreases. Research Implications - Countries with less deglobalization must increase economic growth through policies that protect their own industries, and countries whose level of deglobalization exceeds the threshold must open international relations and pursue economic growth through mutual cooperation and economic integration. In the long term, deglobalization threatens Asia's integrated development and sustainable growth, so globalization, free trade, and multilateralism must be maintained.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.275
Jung-Mi Lee, Eun-Son Lim, Jun-Hyouk Beak
Purpose - The aim of this study is to assess the impact of the Korea-China FTA on the exchange rate pass-through for the top ten imported fisheries products. Design/Methodology/Approach - In this study, we utilize the unit root test, cointegration test, and OLS regression analysis to investigate the long-term equilibrium relationship among exchange rates, real GDP, domestic fishery product prices, and the Korea-China FTA. These factors play a crucial role in influencing the prices of imported fisheries products from China. Findings - We found that the impact of the Korea-China FTA on import exchange rate pass-through depends on the market share held by fisheries products in the Korean import market. Specifically, following the implementation of the Korea-China FTA, fisheries products with a substantial market share in the Korean import market exhibited relatively high exchange rate pass-through. Conversely, for fisheries products with a lower market share, the exchange rate pass-through has decreased since the FTA came into effect. Research Implications - This study stands out from prior research by focusing on China, a dominant player in Korea's fisheries products market. We analyzed the Korea-China FTA's impact on exchange rate pass-through for ten specific fish products, categorized by market share. Our findings can assist domestic fishery product producers and policymakers in developing effective strategies based on market share within Korea's imported fisheries products market.
{"title":"An Analysis of Exchange Rate Pass-Through into the Import Prices of Fisheries Products from China after the Korea-China FTA","authors":"Jung-Mi Lee, Eun-Son Lim, Jun-Hyouk Beak","doi":"10.16980/jitc.19.5.202310.275","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.275","url":null,"abstract":"Purpose - The aim of this study is to assess the impact of the Korea-China FTA on the exchange rate pass-through for the top ten imported fisheries products. Design/Methodology/Approach - In this study, we utilize the unit root test, cointegration test, and OLS regression analysis to investigate the long-term equilibrium relationship among exchange rates, real GDP, domestic fishery product prices, and the Korea-China FTA. These factors play a crucial role in influencing the prices of imported fisheries products from China. Findings - We found that the impact of the Korea-China FTA on import exchange rate pass-through depends on the market share held by fisheries products in the Korean import market. Specifically, following the implementation of the Korea-China FTA, fisheries products with a substantial market share in the Korean import market exhibited relatively high exchange rate pass-through. Conversely, for fisheries products with a lower market share, the exchange rate pass-through has decreased since the FTA came into effect. Research Implications - This study stands out from prior research by focusing on China, a dominant player in Korea's fisheries products market. We analyzed the Korea-China FTA's impact on exchange rate pass-through for ten specific fish products, categorized by market share. Our findings can assist domestic fishery product producers and policymakers in developing effective strategies based on market share within Korea's imported fisheries products market.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"100 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139308224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.89
Ji-Min Sur
Purpose - The purpose of this paper is to review the statutory framework and Court of Justice of the European Union (CJEU) case law concerning the extraordinary circumstances under EC 261/2004 Regulation (the Regulation). This paper also conducts an examination of the compensation liability system of air carriers within the context of Korean aviation transportation laws. Design/Methodology/Approach - This paper studies the scopes, application, and requirements of the extraordinary circumstances in EC 261/2004 Regulation by analyzing cases of CJEU. It seeks to conduct a detailed analysis of extraordinary circumstances in the Korean Aviation Business Act, and contains a comparative analysis between the Regulation and the stance of Korean law. Findings - This paper confirms that previous CJEU cases have taken a stringent and passive stance in recognizing extraordinary circumstances that exempt carriers from compensation liability. Also, it presents some critical views against CJEU perspectives and offers several implications for Korean law in its conclusion. Research Implications - This paper sheds light on legal issues surrounding applications of the extraordinary circumstances in EC 261/2004 Regulation via case law review. In conclusion, it emphasizes the need for amending the Regulation by explicitly specifying the criteria for the application of extraordinary circumstances to better ensure the appropriate fulfillment of air passenger rights protection. This suggests that it is essential to establish uniform legal standards for procedures related to compensation for air passengers in cases of denied boarding, flight cancellation, or flight delays, rather than solely relying on the flight compensation terms and conditions in Korea.
{"title":"The Regulatory Standards of Extraordinary Circumstances in Carriage of Passengers by Air: An Analysis of EU law and Implications for Korea","authors":"Ji-Min Sur","doi":"10.16980/jitc.19.5.202310.89","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.89","url":null,"abstract":"Purpose - The purpose of this paper is to review the statutory framework and Court of Justice of the European Union (CJEU) case law concerning the extraordinary circumstances under EC 261/2004 Regulation (the Regulation). This paper also conducts an examination of the compensation liability system of air carriers within the context of Korean aviation transportation laws. Design/Methodology/Approach - This paper studies the scopes, application, and requirements of the extraordinary circumstances in EC 261/2004 Regulation by analyzing cases of CJEU. It seeks to conduct a detailed analysis of extraordinary circumstances in the Korean Aviation Business Act, and contains a comparative analysis between the Regulation and the stance of Korean law. Findings - This paper confirms that previous CJEU cases have taken a stringent and passive stance in recognizing extraordinary circumstances that exempt carriers from compensation liability. Also, it presents some critical views against CJEU perspectives and offers several implications for Korean law in its conclusion. Research Implications - This paper sheds light on legal issues surrounding applications of the extraordinary circumstances in EC 261/2004 Regulation via case law review. In conclusion, it emphasizes the need for amending the Regulation by explicitly specifying the criteria for the application of extraordinary circumstances to better ensure the appropriate fulfillment of air passenger rights protection. This suggests that it is essential to establish uniform legal standards for procedures related to compensation for air passengers in cases of denied boarding, flight cancellation, or flight delays, rather than solely relying on the flight compensation terms and conditions in Korea.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139308426","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.225
Dong-Sub Lim
Purpose - The purpose of this study is to understand customer purchasing phenomenon in live commerce from the perspective of impulse buying. Design/Methodology/Approach - In this study, in order to study factors affecting impulse buying behavior in live commerce, factors affecting impulse buying behavior were classified into four characteristic areas using flow and perceived usefulness as mediators. The four characteristic areas are live commerce platform characteristics, information source characteristics, product characteristics, and individual characteristics. A total of 290 copies of valid data were collected through a questionnaire survey, which was empirically analyzed using structural equation modeling. Findings - As a result of the study, it was found that sense of reality, credibility, and entertainment affect flow, low price, trendy product, and high involvement product affect perceived usefulness, and perceived usefulness and flow affect impulse buying behavior. Research Implications - Practitioners that want to achieve business results by utilizing impulse purchases in live commerce first select products with high involvement, and during the broadcast process, they emphasize the practical benefits that consumers can obtain from purchasing products to make it fun instead of boring.
{"title":"A Comprehensive Analysis of Customers’ Impulsive Buying Behavior in Live Commerce","authors":"Dong-Sub Lim","doi":"10.16980/jitc.19.5.202310.225","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.225","url":null,"abstract":"Purpose - The purpose of this study is to understand customer purchasing phenomenon in live commerce from the perspective of impulse buying. Design/Methodology/Approach - In this study, in order to study factors affecting impulse buying behavior in live commerce, factors affecting impulse buying behavior were classified into four characteristic areas using flow and perceived usefulness as mediators. The four characteristic areas are live commerce platform characteristics, information source characteristics, product characteristics, and individual characteristics. A total of 290 copies of valid data were collected through a questionnaire survey, which was empirically analyzed using structural equation modeling. Findings - As a result of the study, it was found that sense of reality, credibility, and entertainment affect flow, low price, trendy product, and high involvement product affect perceived usefulness, and perceived usefulness and flow affect impulse buying behavior. Research Implications - Practitioners that want to achieve business results by utilizing impulse purchases in live commerce first select products with high involvement, and during the broadcast process, they emphasize the practical benefits that consumers can obtain from purchasing products to make it fun instead of boring.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.257
Wan-Soo Choi
Purpose - This research aims to analyze the interrelationship among the volatility of stock price, interest rate, and exchange rate in Korea. The main topics are volatility spillovers and the asymmetric behaviors of each market’s volatility and correlation. Design/Methodology/Approach - This research adopts Engle et al.’s (2006) asymmetric dynamic conditional correlation (A-DCC) GARCH models with student t error distribution. The models are a GJR GARCH model with spillovers and a revised Koutmos (1996) EGARCH model. The full sample is divided into four sub-sample periods, including the global financial crisis and the COVID-19 pandemic. Findings - The results show no volatility spillovers among the returns of stock price, interest rate, and exchange rate. However, there are unidirectional spillovers originating from the exchange rate in the global crisis period, and from stock price to exchange rate in the COVID-19 period. Volatility asymmetry is consistently shown in stock price, while the others vary by period. Finally, the asymmetric correlation effects are found only in recent times. Research Implications - In the long-run, the volatility spillovers among financial markets are not shown. However, there is also evidence that volatility spillovers are time-varying, intensifying in times of stress. In the global financial crisis period, the exchange rate influences other markets, while in recent the COVID-19 period stock price seems to play that role. Asymmetric volatility is also time-varying, except in stock price, and recently correlation asymmetry is shown very significantly.
{"title":"The Dynamic Relationship among Stock, Bond, and Exchange Rate Market Volatility using A-DCC GARCH Models","authors":"Wan-Soo Choi","doi":"10.16980/jitc.19.5.202310.257","DOIUrl":"https://doi.org/10.16980/jitc.19.5.202310.257","url":null,"abstract":"Purpose - This research aims to analyze the interrelationship among the volatility of stock price, interest rate, and exchange rate in Korea. The main topics are volatility spillovers and the asymmetric behaviors of each market’s volatility and correlation. Design/Methodology/Approach - This research adopts Engle et al.’s (2006) asymmetric dynamic conditional correlation (A-DCC) GARCH models with student t error distribution. The models are a GJR GARCH model with spillovers and a revised Koutmos (1996) EGARCH model. The full sample is divided into four sub-sample periods, including the global financial crisis and the COVID-19 pandemic. Findings - The results show no volatility spillovers among the returns of stock price, interest rate, and exchange rate. However, there are unidirectional spillovers originating from the exchange rate in the global crisis period, and from stock price to exchange rate in the COVID-19 period. Volatility asymmetry is consistently shown in stock price, while the others vary by period. Finally, the asymmetric correlation effects are found only in recent times. Research Implications - In the long-run, the volatility spillovers among financial markets are not shown. However, there is also evidence that volatility spillovers are time-varying, intensifying in times of stress. In the global financial crisis period, the exchange rate influences other markets, while in recent the COVID-19 period stock price seems to play that role. Asymmetric volatility is also time-varying, except in stock price, and recently correlation asymmetry is shown very significantly.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"119 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139307843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.16980/jitc.19.5.202310.107
Sungkuk Kim, Yunseok Hur
Purpose - For the sustainable trade of the global society, trade phenomena related to the trade of used commodities were analyzed. Used cars are older than new cars, so they are of lower quality and have a lower market value. This makes them a challenging area of research, as there is a lack of prior research. Design/Methodology/Approach - From the perspective of environmental conservation and resource conservation, there is a need for research on the export of used cars as a form of resource recycling. The trade phenomenon was analyzed using K-Stat and UN Comtrade Statics data. Findings - Used goods trade does not occur only in developing countries, and it is used frequently in developed countries as well. We find a very strong positive correlation between used car exports and new car exports. According to the Trade Specialization Index, used cars have an absolute export competitiveness advantage, even though new cars have low export competitiveness. This suggests that used cars complement new cars in the export market. Research Implications - The present study was challenging to undertake due to the fact that it was conducted in the field of used goods, which made it difficult to obtain prior studies and public data. However, the used car sector, a significant component of Korean automobile exports, has been validated as an export product that is competitive with developed countries.
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