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  • 발행기관: People&Global Business Association
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Global Business and Finance Review(Global Business and Finance Review)

  • 발행기관 : People&Global Business Association(People&Global Business Association)
  • 출처구분 : 학회
  • 간행물유형 : 학술저널
  • 발행주기 : 계간 (발행월:3,6,9,12)
  • ISSN : 1088-6931
Global Business and Finance Review
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7
The Comparison of T rading Costs between Two Markets: KOSPI and KOSDAQ
The Comparison of T rading Costs between Two Markets: KOSPI and KOSDAQ
Kee bong Park
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 1-22 (22 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
We apply the pair sample method of Huang and Stoll (1996) to the Korea Exchange (KRX) so as to compare the trading costs of KOSPI and KOSDAQ stocks. The Korea Exchange have two trading places for listed stocks, which are KOSPI vs KOSDAQ, with the same trading mechanisms, i.e., the order-driven trading mechanism. Provided that we follow the pair sample method of Huang and Stoll (1996), we expect similar trading costs between KOSPI and KOSDAQ. One reason for this is that Huang and Stoll (1996) presumes that only trading mechanism under their pair sample does affect the difference in trading costs. Another reason is that KOSPI and KOSDAQ have the same trading mechanism. We found out that percent price impact costs are the same between KOSPI and KOSDAQ. Meanwhile, percent quoted and realized spreads show difference between KOSPI and KOSDAQ. In a further investigation of the intraday 30-minute time-interval trading costs, we found out that the average percent price impact costs were similar between KOSPI and KOSDAQ, while median percent price impact costs were different.
Antecedents and Consequence of Frontline Employees’ Commitment to Service Quality in Hotels : Proactivity, Organizational Learning Culture, Empowerment, and Job Efficacy
Antecedents and Consequence of Frontline Employees’ Commitment to Service Quality in Hotels : Proactivity, Organizational Learning Culture, Empowerment, and Job Efficacy
Kyoung Joo Lee
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 23-35 (13 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
Given the significant roles that they play in the customer services, the frontline employees’ work attitudes and behavior patterns can largely influence the customer satisfaction and performance of service organizations. Adding to the growing research on work attitudes, this research aims at deepening our understanding about the frontline employees’ commitment to service quality (CSQ). This study proposes and tests an integrative framework that not only analyzes the positive personal outcome of CSQ, but also predicts it at both individual and organizational level. Based on a survey of employees in the front offices of hotels in Korea, this research highlights the job efficacy, or the self-confidence in the capability to perform job effectively, as a crucial consequence of CSQ. Furthermore, the comparative analysis of predictors shows that proactive personality has a greater effect on the CSQ than others. Regarding the effect of organizational contexts, this study shows the positive, but varying, effects of the organizational learning culture and the psychological empowerment on the employees’ CSQ.
The Effect of Relationship Quality between Senior Customers and Service Providers on Word-of-Mouth in the Service Industry
The Effect of Relationship Quality between Senior Customers and Service Providers on Word-of-Mouth in the Service Industry
Seol woo Park
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 36-45 (10 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
As the number of older people increases, many companies no longer see older people as socially disempowered, but instead as new target customers. This senior market is expected to be attractive and provide new opportunities to companies. Senior consumers sometimes consider the relationship with the salesperson as more important than the quality of the product. Thus, this study aims to explore the process of how senior consumers have a relationship with service providers and how this relationship affects the output of the store. To find this relationship, this study used relationship quality with satisfaction, trust, and commitment. The commitment aspect is further classified into a difference between affective and calculative commitment in this study. Relationships between satisfaction and trust, satisfaction and the two dimensions of commitment (affective and calculative), and between trust and affective and calculative commitment are all examined. Data were collected from 303 senior people who had experienced visiting a store and getting help from service providers. Respondents were randomly intercepted and recruited to participate in the survey. After conducting a survey, these hypotheses were supported through structural equation analysis using PLS. As a result, theoretical and practical implications for the invigoration of the senior market were derived.
Approaches of Service Identification : Selective Comparison of Existing Service Identification Methods
Approaches of Service Identification : Selective Comparison of Existing Service Identification Methods
Tiara Fausel;Norehan Hussein
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 46-74 (29 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
The increasing digitalization in all spheres of life has resulted in complex business processes and interactions for companies worldwide. For this reason, they see themselves forced to implement efficient information systems which enable a simple and flexible coordination of all business processes within a company. The concept of service-oriented architecture has evolved to tackle this challenge by designing an enterprise architecture that is capable of a rapid response to changing business needs within a company or its environment. One of the very first steps in this context is the identification of services, which is argued to be key for a successful design and implementation. Numerous researchers have come up with models for a structured service identification process. The purpose of this study is to identify the most coherent approach with regard to its degree of detailedness and practicability from a business perspective. A structured literature review of 116 approaches was conducted of which 20 were selected for a detailed analysis using a specific set of comparison criteria. Given the analysis scope of the study, SOPLE-DE - design in the context of service-oriented product line engineering - by Medeiros et al. (2010) was found to be most conclusive for the identification of services.
Managerial incentives and investment efficiency in high technology firms
Managerial incentives and investment efficiency in high technology firms
So jin Yu
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 75-93 (19 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
This study explores the effect of the CEO equity incentive on the investment efficiency of high technology firms. Previous studies suggest that the CEO equity incentive is an influential factor in the CEO using discretion for his or her own benefits. Further, high technology firms have not only a highly uncertain information environment, but also a unique corporate life cycle, concentrating on the earlier stages. The frequent adjustment in product designs to meet the market requirement can significantly alter the level of capital investments. Thus, this study hypothesizes that both CEO equity incentive and high technology significantly reduce the investment efficiency of firms because of the high level of information asymmetry. Using a sample of 10,556 firm-year observations from 2000 to 2014 for U.S. public firms, this study provides clinching evidence that both CEO equity incentive and high technology significantly decrease investment efficiency of firms. Further, this study finds that the investment efficiency decreases more in high technology firms with CEO equity incentive. This study contributes to the literature by finding that the CEO equity incentive and high technology firms are significant determinants of investment efficiency owing to the highly uncertain information environment they face.
An Analysis of the Performance of the “1/N” Naïve Portfolio Strategy i n Korean S tock M arkets
An Analysis of the Performance of the “1/N” Naïve Portfolio Strategy i n Korean S tock M arkets
Sang Hoon Lee;Ji hun Kim
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 94-108 (15 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
In this study, we compare three measurements of 12 asset-allocation strategies to a “1/N” portfolio using historical data of Korean stock markets, which is a representative emerging market, from January 2000 to December 2015. We find that in Korean stock markets the asset allocation strategies with short sale constraint have better performance than the “1/N” portfolio (i.e., high Sharpe ratios and high certainty-equivalent returns). While these optimal asset-allocation models have higher turnover than the “1/N” portfolio, the Sharpe ratio of short sale constraint is still higher than the “1/N” portfolio when we consider transaction costs. The results are surprising because no asset-allocation strategies are consistently dominant on “1/N” portfolio using US stock market data.
Lean Manufacturing for Tsukiden Electronics Philippines, Inc. : a Six Sigma Approach
Lean Manufacturing for Tsukiden Electronics Philippines, Inc. : a Six Sigma Approach
Engr. Marizen B. Contreras
People&Global Business Association / Global Business and Finance Review Vol.23 No.4 / 2018 / 109-123 (15 pages)
경제경영>경영학 / KDC : 사회과학 > 경제학 / KCI : 사회과학 > 경영학
초록보기
To remain competitive, manufacturing organizations like Tsukiden Electronics Philippines, Inc. (TEPI) has addressed productivity and efficiency goals through manufacturing waste elimination. In this case-experimental research for TEPI the paper proposes a process improvement technique for inventory management. Six Sigma methodology using Lean manufacturing tools were used to address the problem of TEPI in inventory management. Current state analysis and first level Pareto analysis revealed the highest contributor to the total loss of TEPI. Second level Pareto analysis showed that among the factors that contributed to losses, it was the missing/ uncounted parts that contributed the highest to the total losses. The Ishikawa diagram and why-why analysis revealed that almost all the problems that arise in TEPI’s inventory activities were caused by the inability of the operator to do multitasking, lack of visual display and parts’ sensitivity. Potential problems were identified using PFMEA and a control plan was made for inventory control using counter checker with proximity sensor and visual display to ensure the smooth flow of the processes.