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1 – 10 of 151
Article
Publication date: 5 June 2017

Kyoo Bae Park and Min Jae Park

The purpose of this paper is to investigate the asset size regarding how the level of a bank’s premium asset management service interaction quality influences the referral…

Abstract

Purpose

The purpose of this paper is to investigate the asset size regarding how the level of a bank’s premium asset management service interaction quality influences the referral intention using performance expectation and customer satisfaction as mediators.

Design/methodology/approach

The study employs data collected from an anonymous survey on 185 customers who visited the PB centers. The study employs confirmatory factor analysis methods following a path analysis and structural equation modeling for testing research hypotheses with stepwise moderating effect test.

Findings

The results indicate that superiority in interaction quality of premium asset management services has a positive influence on customer satisfaction and performance expectations, and these quality factors also show a positive influence on the intent to maintain relationships and even referral intentions. The results also show that customers with larger asset sizes only have mediocre intentions to refer bank services to people around them.

Practical implications

Marketing positions, which remain faithful to the asset management obligation to fulfill a stable profit rate through constant interactive processes based on a trusting relationship between the customer and dedicated staff member that forms over time, can be a basis for service quality that can secure mid-to-long-term competition superiority in financial firms that offer asset management services.

Originality/value

This study focuses on whether interaction factors that form the quality of services for customized premium asset management through the bank’s dedicated staff member have a positive influence on customer satisfaction and referral intentions. Based on this analysis, the authors presented strategic implications on conditions that financial firms must focus on in order to secure competitiveness.

Details

International Journal of Bank Marketing, vol. 35 no. 4
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 13 February 2019

Mijung Kang and Min Jae Park

Heuristics are used in the judgment and decision-making process of bank employees; however, discussions and research on the type or range of judgmental heuristics are very…

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Abstract

Purpose

Heuristics are used in the judgment and decision-making process of bank employees; however, discussions and research on the type or range of judgmental heuristics are very difficult to find throughout the world. In light of this, the purpose of this paper is to empirically analyze what types of heuristics are used in bank employees’ judgment and decision-making processes and the extent to which those types of heuristics prevent rational decision making due to the systematic biases they generate. In particular, this study aims to conduct empirical research based on various scenarios related to the banking industry.

Design/methodology/approach

To examine the heuristics in decision-making circumstances and the level of subsequent biases, the present study narrowed the scope of research to the three main types of heuristics introduced by Tversky and Kahneman (1974), namely, representativeness heuristics, availability heuristics and anchoring and adjustment heuristics. To analyze the bank employees’ decision making, this study specifically investigated the level of decision-making heuristics and the level of bias by focusing on these three types of heuristics. This study targeted bank employees who either sell financial products or are engaged in customer service work at a real/physical bank.

Findings

For representativeness heuristics, this study found bank employees’ judgment of probability was influenced by biases, such as insensitivity to prior probability, insensitivity to sample size, misconception of chance and insensitivity to predictability. Regarding availability heuristics, it found that bank employees judge the probability of events based on the ease of recalling an event instead of the actual frequency of the event, and so they fall prey to systematic biases. Finally, regarding anchoring and adjustment heuristics, this study found that employees fall prey to judgment biases as they judge the probability of conjunctive events and disjunctive events based on anchoring and insufficient adjustment.

Originality/value

Although people who are well-trained in statistics can avoid rudimentary errors, they fall prey to biased judgment at a similar level to those who are not properly trained in statistics when it comes to more complicated and ambiguous issues. It clearly indicates that it is risky to determine that financial experts would be more rational than the general public in making various judgments required in the policy-making process. To conclude, it is imperative to recognize the existence of heuristics-based systematic biases in the judgment and decision-making process and, furthermore, to reinforce the education and training system to improve bank employees’ rational choice and judgment ability.

Details

International Journal of Bank Marketing, vol. 37 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 16 January 2019

Dae Bong Kim and Min Jae Park

This study aims to empirically examine the conditions for latecomers to successfully pursue path-creating catch-up strategies. In particular, the company is divided into two…

Abstract

Purpose

This study aims to empirically examine the conditions for latecomers to successfully pursue path-creating catch-up strategies. In particular, the company is divided into two conditions: the external environment, which refers to the gap in the market share between the leaders and latecomers, and the internal capacities of the company, such as the company’s absorptive capacity, re-combinative capabilities and technological innovation leadership.

Design/methodology/approach

Because firms supported by the government tend to be conservative in their decision-making and technology development strategies, governmental assistance is likely to negatively affect path-creating catch-up strategies. This study surveyed small to medium enterprises in the Korea IT industry and analyzed the latecomers’ catch-up strategies from internal and external environment perspectives.

Findings

After ensuring its innovation capacity by developing of internal capacity, it turned out to lead to path-creative catch-up strategy and market disparity and government dependence moderates this relation. While market disparity has a positive moderation effect, government dependence showed a negative moderation effect.

Originality/value

The authors proposed and tested hypotheses of how a firm’s path-creative catch-up strategy is adopted and succeeds. Regarding the internal conditions, the authors statistically proved that absorptive capabilities, re-combinative capabilities and technology innovation leadership are important factors for a firm’s technology innovation capacity.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 11 no. 2
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 5 March 2020

Ji Yeon Kim and Min Jae Park

The purpose of this study is to investigate critical factors needed for an internal environment conducive to entrepreneurial activity. Also, this study aims to suggest improved…

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Abstract

Purpose

The purpose of this study is to investigate critical factors needed for an internal environment conducive to entrepreneurial activity. Also, this study aims to suggest improved measurement items that can be applied to national corporations in the national management environment where is much interested in the implementation of corporate entrepreneurship.

Design/methodology/approach

In particular, by using the corporate entrepreneurship assessment instrument (CEAI) and through the Delphi and analytical hierarchy process (AHP) surveys on the group of corporate entrepreneurship experts, a comparative analysis among the emergent four kinds of types is deducted with main internal environmental factors of corporate entrepreneurship activities in South Korea.

Findings

This study contributes to the decision-making of many organizations about new business directions and success factors to gain new growth opportunities with corporate entrepreneurship activities according to each of their own internal environment status. As a result of the AHP analysis on the opportunist type, work discretion was revealed as the most significant factor. Furthermore, the avoiding identical work approach/steps, the subjective work assessment and the opportunities to practice one’s own style were all recognized as crucial enough to occupy the top to fourth place in the overall importance priority.

Originality/value

Academically, the local organizational environmental critical factors based on an existing CEAI were issued by allowing the AHP survey with specific scenarios per corporate entrepreneurship activity. This can be applied through various means to benefit many organizations looking for continuous growth and innovation based on corporate entrepreneurship.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 13 no. 1
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 17 November 2022

Sungwon Oh, Min Jae Park, Tae You Kim and Jiho Shin

This study aimed to present the methodology of the text data analysis to establish marketing strategies for fintech companies in a practical way. Specifically, the methodology was…

1357

Abstract

Purpose

This study aimed to present the methodology of the text data analysis to establish marketing strategies for fintech companies in a practical way. Specifically, the methodology was presented to convert customers' review data, which consisted of the text data (unstructured data), to the numerical data (structured data) by using a text mining algorithm “Global Vectors for Word Representation,” abbreviated as “GloVe”; additionally, the authors presented the methodology to deploy the numerical data for marketing strategies with eliminate-reduce-raise-create (ERRC) value factor analytics.

Design/methodology/approach

First, the authors defined the background, features and contents of fintech services based on a review of related literature review. Additionally, they examined business strategies, the importance of social media for fintech services and fintech technology trends based on the literature review. Next, they analyzed the similarity between fintech-related keywords, which represent the trends in fintech services, and the text data related to fintech corporations and their services posted on Facebook and Twitter, which are two of the most popular social media globally, during the period 2017–2019. The similarity was then quantified and categorized in terms of the representative global fintech companies and the status of each fintech service sector. Furthermore, the similarity was visualized, and value elements were rebuilt using ERRC strategy analytics.

Findings

This study is meaningful in that it quantifies the degree of similarity between customers' responses, experiences and expectations regarding the rapidly growing global fintech firms' services and trends in fintech services.

Originality/value

This study suggests a practical way to apply in business by providing a method for transforming unstructured text data into structured numerical data it is measurable. It is expected that this study can be used as the basis for exploring sustainable development strategies for the fintech industry.

Details

Management Decision, vol. 61 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 27 November 2018

Minjung Kim and Min Jae Park

This study aims to draw on Piaget’s theory of assimilation and accommodation (absorptive capacity) as having mediating roles to examine the effect of motivational factors in…

1041

Abstract

Purpose

This study aims to draw on Piaget’s theory of assimilation and accommodation (absorptive capacity) as having mediating roles to examine the effect of motivational factors in entrepreneurship education on entrepreneurial intention among engineering students. In addition, this relationship is analyzed along with the moderating effect of the home environment.

Design/methodology/approach

The structural equation model was applied to a sample of university students (736 respondents) engaged in an entrepreneurship education program in South Korea.

Findings

The findings highlight that the motivations of personal achievement, social welfare and social relationship were associated with assimilated students, and the motivations of personal achievement and cognitive interest were associated with accommodated students fostering entrepreneurial intention in their entrepreneurship education.

Originality/value

This finding contributes to the theoretical implications of absorptive capacity (assimilation and accommodation) in the learning process and has wider practical implications for course instructors in educational institutions who wish to promote the effectiveness of developing entrepreneurship knowledge and skills among engineering students.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 11 no. 3
Type: Research Article
ISSN: 2053-4604

Keywords

Open Access
Article
Publication date: 30 January 2004

Thomas Grigalunas, Simona Trandafrr, Meifeng Luo, James Opaluch and Suk-Jae Kwon

This paper analyzes two external costs often associated with port development, cost to fisheries from marine dredge disposal and damages from air pollution, using estimates of…

Abstract

This paper analyzes two external costs often associated with port development, cost to fisheries from marine dredge disposal and damages from air pollution, using estimates of development and operation for a proposed (but since cancelled) container port as a case study. For dredge disposal, a bio-economic model was used to assess short- and long-term and indirect (joodweb) damages to fisheries from marine disposal of clean sediments. In the case of air pollution, estimates of annual activity levels and emission coefficients are used to estimate incremental annual emissions of three key pollutants (NOx, HC and CO) for trucks, trains, yard vehicles, and vessels. These estimates allow for phasing in of strict new air pollution regulations. For both external costs, sensitivity analyses are used to reflect uncertainty. Estimates of shadow values in year 2002 dollars amount from $0.094 per cubic yard to $0.169 per cubic yard of clean dredged material for the selected disposal site and from $0.0584 per mile (jor current control standards) to $ 0. 0023 per mile (after phasing in of new regulations) for air pollution from heavy trucks.

Details

Journal of International Logistics and Trade, vol. 1 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

Article
Publication date: 22 March 2019

Tae Wan Kim

The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.

Abstract

Purpose

The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.

Design/methodology/approach

A χ2 test was used to determine the municipalities where a regional voting pattern emerged, and λ correlation coefficients were calculated to examine changes in the regional voting patterns.

Findings

The analyses lead to three key findings. First, voting patterns differ in Yeongnam and Honam: regional voting in Yeongnam is getting weaker, it remains strong in Honam. Second, the tendency to vote along regional lines decreased significantly in the election in which the Honam party fielded a candidate with a Yeongnam appeared identity. Third, regional voting patterns declined but then stabilized at a constant level, regardless of the candidates’ local identity, which was confirmed in “Bu-Ul-Gyeong.”

Originality/value

This paper can empirically verify the manifestation of regional voting pattern and confirm the trend. It is possible to derive a condition for suppressing the regional voting pattern.

Details

Asian Education and Development Studies, vol. 8 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 29 April 2016

Suk-kyu Kim, Brian H. Yim, Kevin K. Byon, Jae-Gu Yu, Sung-Min Lee and Jae-Ahm Park

The purpose of this paper is to examine spectator perceptions of service quality at the Formula One (F-1) event in Shanghai by means of Martilla and James’ Importance and…

1025

Abstract

Purpose

The purpose of this paper is to examine spectator perceptions of service quality at the Formula One (F-1) event in Shanghai by means of Martilla and James’ Importance and Performance Analysis (IPA).

Design/methodology/approach

The items were plotted on the four IPA dimensions, including: Concentrate Here; Keep Up the Good Work; Lower Priority; and Possible Overkill.

Findings

The results indicated that staff courtesy seems to be the strength of the event. However, concession quality, food prices, and arena accessibility, including restrooms at the Shanghai F-1 event, did not meet spectators’ expectations. In addition, the results suggested that in any spectator sporting event, food consumption helps to create a positive experience. Therefore, IPA revealed that service quality related to concessions, food pricing, and arena accessibility at the Shanghai F-1 are in need of immediate improvement, whereas staff courtesy and race visuals were satisfactory.

Originality/value

The findings will help marketers prioritize certain services and offer strategic direction in effective service provision by highlighting management problems.

Details

International Journal of Sports Marketing and Sponsorship, vol. 17 no. 2
Type: Research Article
ISSN: 1464-6668

Keywords

Article
Publication date: 14 February 2022

Young-Min Kwon, Sung-Boo Hong, Jae-Sang Park and Yu-Been Lee

The purpose of this study is to use the individual blade pitch control (IBC), reduce actively both the rotor hub vibratory loads and airframe vibration responses for the…

Abstract

Purpose

The purpose of this study is to use the individual blade pitch control (IBC), reduce actively both the rotor hub vibratory loads and airframe vibration responses for the lift-offset compound helicopter at a high-speed flight condition.

Design/methodology/approach

The Sikorsky X2 technology demonstrator (X2TD) is used as the lift-offset compound helicopter. The X2TD lift-offset rotor is modelled and its rotor hub vibratory loads at a flight speed of 250 knots are predicted using a rotorcraft comprehensive analysis code, CAMRAD II, and the airframe structural dynamics is represented with a finite element analysis code, MSC.NASTRAN. When the propulsive trim methodology is applied for rotor trim, the best input condition for IBC using multiple harmonic inputs is searched to reduce the rotor vibration, while the rotor aerodynamic performance (the rotor effective lift-to-drag ratio) is improved or maintained at least. Finally, the reduction in airframe vibration responses is investigated when the best input condition for IBC with multiple harmonics is applied to the lift-offset rotor.

Findings

When the IBC with the single harmonic input using the 2/rev actuation frequency, amplitude of 2° and control phase angle of 120° (2P/2°/120°) is considered for X2TD rotor, the rotor vibration is reduced by about 26.37% only and the rotor effective lift-to-drag ratio increases slightly by 0.98%. When X2TD rotor uses the IBC with multiple harmonic inputs (2P/2°/45° + 5P/1°/90°), the rotor hub vibratory loads and airframe vibration responses are reduced by 44.69% and from 0.48 to 79.10%, respectively, while rotor effective lift-to-drag ratio is improved by 0.77%, as compared to the baseline without IBC.

Originality/value

This study is the first study to use the 2/rev actuation for IBC to the four-bladed lift-offset coaxial rotor and to investigate to obtain simultaneously the rotor vibration reduction, rotor performance improvement and airframe vibration reduction, using IBC with multiple harmonic inputs.

1 – 10 of 151