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Article
Publication date: 15 February 2011

Taehyun Kim and Hoon‐Young Lee

The purpose of this paper is to compare and validate the results of two clustering methods for the segmentation of the market for prestige cosmetics in Korea, and to draw…

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Abstract

Purpose

The purpose of this paper is to compare and validate the results of two clustering methods for the segmentation of the market for prestige cosmetics in Korea, and to draw conclusions about their general practical usability.

Design/methodology/approach

Segmentation schemes based on scaled data collected by questionnaire from 480 female shoppers, selected by the mall intercept procedure, were analysed for validity, model fit, definability of profiles, and usability of results.

Findings

Segmentation by traditional K‐means clustering was not judged useful, whereas segments generated by the innovative alternative of mixture regression modelling had clear marketing strategy potential.

Research limitations/implications

Given the single‐country and single‐market context of the study, its outcomes and implications must be generalised cautiously.

Practical implications

Mixture regression can make a significant contribution to the implementation of segmentation strategies based on deliverable consumer benefits, by helping academics and practitioners to better understand, explain and predict patterns of consumer behaviour.

Originality/value

A segmentation model with proven validity offers a sound basis for such marketing strategies as, for example, positioning.

Details

European Journal of Marketing, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0566

Keywords

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Article
Publication date: 5 October 2021

Young Hoon Kim, Sangyung Lee and Nelson Barber

With dining out increasing globally, policy making and research have been on menu labeling as a source for meaningful nutrition information. Yet, despite attempts to mandate menu…

646

Abstract

Purpose

With dining out increasing globally, policy making and research have been on menu labeling as a source for meaningful nutrition information. Yet, despite attempts to mandate menu labeling and the studies examining consumer's perception of menu nutritional information and how this perception impacts dining behavior and intention to consume, concerns for obesity and malnutrition continue to be at the forefront of public health discussions. This study attempts to comprehend consumers' nutritional goals, intention and food choice behavior, thereby suggesting how to leverage this information for change.

Design/methodology/approach

Using survey data and a proposed and validated theoretical model, the study identified the different aspects of consumer's food choice by analyzing the relationship of consumer's perceived importance toward nutrition information, food choice and healthy daily behavior, and intention to improve health.

Findings

Consumers who perceive higher importance of nutrition information are more likely to choose healthy food when dining out and have stronger health improvement intention. The results also suggested healthy food choice and healthy daily behavior positively influenced health improvement intention.

Originality/value

Despite the previous studies on menu labeling and the numerous policy mandates, there is still concern about the food choice behavior of consumers while eating out. No serious effort exists to regulate food service providers similar to the regulation of other consumer products, whereby consumers are generally protected from harm. This study suggests through education, promotional marketing and industry partnerships, motivating and leveraging consumers' desire for healthy food choices could move food service providers and policy makers to change what information is provided.

Details

British Food Journal, vol. 124 no. 5
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 24 June 2024

Sangyung Lee and Young Hoon Kim

With the competitive nature of golf club operations, understanding the loyalty formation process is crucial for maintaining a competitive edge. This study investigated the…

247

Abstract

Purpose

With the competitive nature of golf club operations, understanding the loyalty formation process is crucial for maintaining a competitive edge. This study investigated the sequential developmental stages of consumer loyalty, progressing through cognitive, affective, and conative stages.

Design/methodology/approach

The study conducted a survey targeting consumers who have experienced golf club services in the United States. This study operationalized reliability and trust as key indicators of the cognitive stage, hedonic motivation and social engagement as indicators of the affective stage, and loyalty as the indicator of the conative stage.

Findings

Using structural equation modeling (SEM), this study found that reliability has a significantly positive influence on trust. Trust has a significantly positive influence on hedonic motivation and loyalty. Furthermore, hedonic motivation has a significantly positive influence on social engagement and loyalty.

Originality/value

By integrating these findings within the Cognitive-Affective-Conative (CAC) framework, this study contributes to both the theoretical literature on consumer loyalty and provides practical insights for golf club management.

Details

International Journal of Sports Marketing and Sponsorship, vol. 25 no. 5
Type: Research Article
ISSN: 1464-6668

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Article
Publication date: 22 September 2023

Young Hoon Jung, Dong Shin Kim and HoWook Shin

This study explores family firms' ex ante conflict management strategies to preserve their socioemotional wealth (SEW) under predictable conflict through the succession process…

292

Abstract

Purpose

This study explores family firms' ex ante conflict management strategies to preserve their socioemotional wealth (SEW) under predictable conflict through the succession process. Specifically, the authors examine how family firms leverage the insurance-like benefits of corporate social responsibility (CSR) to mitigate the threat of foreseeable family feuds among the sons of firms' family heads.

Design/methodology/approach

The authors focus on the charitable donations pledged by Korean family business groups (chaebols). Using the data of 62 chaebols with generalized least squares (GLS) models, the authors analyze 711 observations from 2005 to 2017.

Findings

The authors find a positive relationship between the number of sons of a family firm's head and the firm's CSR activities such as spending on charitable donations. Furthermore, the number of daughters of heads in executive positions strengthens such a positive relationship, whereas the number of business and political marriage ties weakens this relationship.

Practical implications

Family heads of family businesses may leverage CSR activities and marriage ties to elite families interchangeably to ward off negative impacts from foreseeable family feuds and preserve their SEW. Thus, a policy-based incentive for CSR that encourages more family heads to use CSR as insurance would serve the public interest.

Originality/value

The authors contribute to the family business literature by suggesting that CSR activities can be used by family firms as an instrument to mitigate foreseeable damage to the SEW caused by family feuds. The authors also shed new light on CSR research by finding that marriage ties to elite families may reduce the strategic value of CSR activities.

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Article
Publication date: 14 July 2021

Young Hoon Jung, Zhu Zhu and Huy Will Nguyen

This study examines what motivates firms to go and remain abroad despite uncertain profit potential. In a departure from probing traditional market-seeking, profit-driven motives…

299

Abstract

Purpose

This study examines what motivates firms to go and remain abroad despite uncertain profit potential. In a departure from probing traditional market-seeking, profit-driven motives, the authors explore how domestically driven, sociocultural motivations may shape the foreign market entry decisions of Korean commercial banks (KCBs). The authors argue that, due to the power imbalance between KCBs and their chaebol clients within the historical and cultural contexts of their relationships, KCBs' foreign market entries may depend more on their clients' presence in these markets than on their profit potential.

Design/methodology/approach

The authors focus on the foreign market entries of KCBs and their client firms. Using the data of 8 KCBs and their client firms belonging to the 60 business groups (chaebols) of Korea, the authors analyze 6,577 observations involving the dyadic relationship between a KCB and its client firm in 15 host countries from 2005 to 2014.

Findings

The authors find that the number of clients' subsidiaries operating in foreign markets may increase the likelihood of KCBs entering these markets. Moreover, when KCBs earn more domestic profit from client firms, the potential Korean market in the host country is greater, and the institutional distance between the host country and Korea is smaller.

Practical implications

In addition to the critical role of a bank-centered financing system in advancing a developing country and its firms, the authors’ findings suggest that firms should pay attention to the local diaspora and the institutional distance between the host and home countries in order to manage power-imbalanced relationships and make them sustainable.

Originality/value

The study contributes to the literature on foreign market entry by demonstrating how the home country's sociocultural factors may worsen the power imbalance, thereby pushing firms to make seemingly irrational decisions to go and stay abroad. That is, KCBs' foreign operations may be a way of seeking relational benefits with client firms, which would serve as a source of long-term domestic market profits. The authors’ findings thus highlight the need to consider how sociocultural factors may also shape firms' decision-making in their international business.

Details

Cross Cultural & Strategic Management, vol. 28 no. 4
Type: Research Article
ISSN: 2059-5794

Keywords

Available. Open Access. Open Access
Article
Publication date: 29 June 2021

Young Hoon Kim and Daniel Spears

The primary purpose of this study is to examine hospitality and tourism undergraduate students' attitudes to work and career expectations as they prepare to enter the workforce in…

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Abstract

Purpose

The primary purpose of this study is to examine hospitality and tourism undergraduate students' attitudes to work and career expectations as they prepare to enter the workforce in the hospitality industry in both the United States and South Korea.

Design/methodology/approach

The measurement instrument was developed from previous studies (Chen and Shen, 2012; Kong, 2013) and included questions related to job attitudes, job satisfaction, job motivations, job involvement, and career expectations and aspirations upon graduation. T-tests were conducted first for the mean values of the constructs between the United States and South Korea to ensure the comparison of two different cultural groups.

Findings

First, students from the United States (US) have more and better work attitude than those students from South Korea. Second, students from South Korea appear to be less motivated to work and less satisfied with their current jobs and earnings than students from the US. Third, the results also have managerial implications for both countries. It is very important to know that higher grade point average is not an answer to find the right person but more likely, positive attitudes to work and higher levels of job involvement are more likely to have higher job expectations and aspirations for employment in the industry.

Originality/value

This study adds to the hospitality literature by examining the different perspectives of hospitality and tourism undergraduate students from the US and South Korea, specifically examining their attitudes toward work, job satisfaction, work involvement and job expectations as they prepare for careers in the industry. The results of this study help stakeholders (i.e. students, educators and practitioners) in the hospitality and tourism industry gain a better understanding of their undergraduate students as they prepare for careers in the industry. In addition, the study contributed to understanding cultural differences present among hospitality and tourism students from individualist and collectivist cultures.

Details

International Hospitality Review, vol. 36 no. 2
Type: Research Article
ISSN: 2516-8142

Keywords

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Article
Publication date: 14 January 2020

Jinwoo Park, Minhong Kim, John Nauright and Young Hoon Kim

The purpose of this paper is to examine the relationships among athlete star power, enjoyment and revisit intention of sport event tourists in a sport mega-event (SME).

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Abstract

Purpose

The purpose of this paper is to examine the relationships among athlete star power, enjoyment and revisit intention of sport event tourists in a sport mega-event (SME).

Design/methodology/approach

This study was conducted in the context of 2018 PyeongChang Winter Olympic Games. A total of 419 respondents completed a survey. Structural equation modeling was used to analyze the data.

Findings

This study proved the final structure model fit well by having the values and scores higher than the minimum cutoff in all categories. Path coefficients indicate that H1a, H1c and H2 were supported while H1b was not supported by the analysis. In addition, enjoyment partially mediated the relationship between athlete star power and revisit intentions. In particular, two mediating effects were found: enjoyment mediated trustworthiness and revisit intention and expertise and revisit intention. However, enjoyment did not mediate the relationship between attractiveness and revisit intentions.

Research limitations/implications

The limitation of this study lies within two perspectives. Since the data have been collected in one country, the results may be viewed and interpreted for a specific location and time. Thus, it is strongly recommended to conduct the similar studies in the future Olympic Games. In the other perspective, the results could be different from one to another sport game because of the popularity by star power and game itself.

Originality/value

This study adds the literature on sport event research. Although there were a few studies on the effect of athlete star power, a dearth of research examined the relationships among athlete star power (trustworthiness, attractiveness and expertise), enjoyment and revisit intention. These results are valuable to SME managers to increase the propensity of tourists’ revisit intention at sport mega-event by understanding the factors that lead to increased tourist enjoyment.

Details

International Journal of Sports Marketing and Sponsorship, vol. 21 no. 2
Type: Research Article
ISSN: 1464-6668

Keywords

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Article
Publication date: 9 October 2023

Te Wu, Huy Will Nguyen, Young Hoon Jung and Isabelle Yi Ren

Organizations have always faced the possibility of disruptions. Traditional approaches, such as shifting risks through insurance or improving organizational resiliency, view…

377

Abstract

Purpose

Organizations have always faced the possibility of disruptions. Traditional approaches, such as shifting risks through insurance or improving organizational resiliency, view disruptions as threats. This study aims to propose a new perspective where disruptions can also be opportunities. By adopting project portfolio management (PPM), organizations can develop proactive capabilities to manage uncertainty and prepare to exploit future disruptions.

Design/methodology/approach

Drawing on publicly available research reports, company reports, professional standards and press reports, this study describes key features of PPM and provides detailed practical guidance on how to apply PPM in daily operations, especially in preparation for the next disruption.

Findings

The key steps in applying PPM in daily operations are: align portfolios and projects with strategic goals and objectives; establish a robust governance framework; optimize resource capability and capacity; build and implement appropriate implementation methodologies; continuously monitor, review and optimize the project portfolio; and develop a culture that embraces risks, innovation and adaptability.

Research limitations/implications

This research has several limitations and implications. On limitations, the study was constrained by publicly available data, an in-depth interview with a consulting firm and a survey based on convenient sampling. These limitations will impact the generalizability of the findings. On implications, this paper shows how organizations can prepare for future disruptions by applying PPM. There are other ways to prepare for the unpredictable future, and further research is needed to explore other methods.

Practical implications

The results of this study have important practical implications for all organizations and in all sectors. Major disruptions are matters of “when,” not “how,” and responsible organizations need to pay attention. Based on the PPM discipline, this research provides an approach for business executives and project management practitioners to tackle this challenge. Furthermore, portfolio managers should use this information to promote and advocate for more disciplined planning to confront the uncertain future.

Social implications

The findings of this paper carry important social implications. As the recent events showed the vastness of disruptions, from extreme heat to fires in Maui, sitting idly and waiting passively for an unpredictable future is not an option. This paper advocates the need for more awareness and preparation for future disruption by applying PPM. Furthermore, this research provides concrete guidelines for organizations and practitioners to consider as they confront the unknown. Additional research should investigate other effective strategies to meet the challenges of an uncertain and volatile future.

Originality/value

This study offers practical steps on how organizations may manage not only to survive but also to thrive in an uncertain and volatile world.

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Article
Publication date: 1 March 2021

Young Hoon An, Soonkyoo Choe and Jihoon Kang

The purpose of this study is to analyse the effects of market-based and nonmarket-based strategies on firm performance in African countries. This study also investigates host…

354

Abstract

Purpose

The purpose of this study is to analyse the effects of market-based and nonmarket-based strategies on firm performance in African countries. This study also investigates host country institutions' effect on the relationship between firm strategies and performance in these countries.

Design/methodology/approach

Data of 1,276 firms in five African countries were obtained from two different sources: The World Bank Enterprise Database and The Global Competitiveness Report. Two-stage least squares regression was applied.

Findings

Both market-based strategies and corporate political activity (CPA)improve firm performance in the African countries included in the analysis. Institutional development also has a direct positive impact on firm performance. However, the effect of CPA weakens as the host country shifts towards more efficient, market-oriented institutions. Furthermore, the results show that local African firms benefit more from institutional development than foreign firms.

Originality/value

The paper confirms and extends our understanding of the dynamic fit between institutions and strategy by highlighting the moderating role of institutional development on CPA and market-based strategies in enhancing firm performance.

Details

Multinational Business Review, vol. 29 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

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Article
Publication date: 5 January 2021

Huy Will Nguyen, Zhu Zhu, Young Hoon Jung and Dong Shin Kim

What determines the level of acquisition premium? This paper aims to investigate the effect of acquirers’ social capital as reflected through their network position (structural…

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Abstract

Purpose

What determines the level of acquisition premium? This paper aims to investigate the effect of acquirers’ social capital as reflected through their network position (structural holes and network density) on the level of acquisition premiums.

Design/methodology/approach

This study predicts acquisition premiums using a panel data set of 324 mergers and acquisition (M&A) transactions including 161 unique acquirers over a 21-year timeframe. M&A and alliance information are obtained from the securities data company platinum database; firm financial data are obtained from the COMPUSTAT database.

Findings

The results show that alliance network social capital provides acquiring firms with information benefits, thus, reducing the acquisition premium. However, such information benefits are also contingent on target valuation uncertainty and acquirers’ structure exploitation tendency.

Practical implications

Different types of network structures provide different social capital influences: managers should be aware of their advantages and pitfalls when engaging in M&As. The findings suggest that firms should pay close attention to social capital when making decisions regarding acquisition premiums.

Originality/value

Past research has indicated that acquiring firms tend to overestimate the value of target firms. Still, little attention has been paid to organizational-level social capital in analyzing the determinants of acquisition premiums. This study offers insight into the effect of network structure on M&A acquisition premiums.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

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