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The Restructuring of the Korean Economy following the Financial Crisis of 1997, including Economic and Financial Reforms
Soon Suk Yoon, Gary Miller |
511 |
The Restructuring of the Korean Economy following the Financial Crisis of 1997, including Economic and Financial Reforms
Soon Suk Yoon
Chonnam National University, Korea
Gary Miller
Texas A&M International University
In this paper, we examine some major changes including financial and accounting reforms that occurred after the Korean crisis in 1997. In response to globalization, Korea gradually opened up commodity markets beginning in the early 1990s. The domestic industry was not well prepared to compete with foreign products at home as well as abroad because of so‑called “four highs and three lows”. The four highs were the high wage rate, the high interest rate, high land values, and high transportation costs. The three lows were low technology, low value‑added, and low managerial efficiency. Unfortunately there had been little progress in remedying these structural weaknesses in the years before the crisis. For example, the frequent replacement of the MOFE minister made it almost impossible for the MOFE to pursue needed policy adjustments in a consistent and sustained manner. In part 1, we provide some general background. In part 2, we describe the financial reforms. Accounting reforms are discussed in part 3. In part 4, we summarize our conclusions.
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An Assessment and Strategic Guidelines for Developing E-commerce in the Asia-Pacific Region
Rajshekhar G. Javalgi, Nilmini Wickramasinghe, Robert F. Scherer,
Sushil K. Sharma |
523 |
An Assessment and Strategic Guidelines for Developing E-commerce in the Asia-Pacific Region
Rajshekhar G. Javalgi
Cleveland State University
Nilmini Wickramasinghe
Cleveland State University
Robert F. Scherer
Cleveland State University
Sushil K. Sharma
Ball State University
The Asia-Pacific region is growing in e-commerce adoption despite a global economic slowdown. Developed countries that have been offering e-commerce have shown impressive performance in their respective economies, but the Asia-Pacific region still lags behind in the e-business race. This is due to several factors which include language, education, technology, and technical infrastructure. The aim of the following discussion is to develop a framework that embraces key global driving forces and national policy forces impacting e-business readiness in the Asia-Pacific region through conceptualization of the key global forces as primary drivers of e-business readiness and national policy drivers as enablers of e-business growth. Using these determinants, a strategic map is then developed to identify where various countries in the Asia-Pacific region are currently positioned in terms of their respective e-business readiness. Key factors that act as impediments to e-commerce growth as well as strategies to accelerate the growth of e-commerce in the Asia-Pacific region are presented.
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Solving the Traveling Salesman Problem using Premium Solver Platform Software
Mike C. Patterson, Bob Harmel |
532 |
Solving the Traveling Salesman Problem using Premium Solver Platform Software
Mike C. Patterson
Midwestern State University
Bob Harmel
Midwestern State University
The traveling salesman problem has been a very important topic of study for operations researchers and mathematicians for decades. Computer hardware and software advances in recent years have provided multiple alternative approaches to this classic combinatorial challenge. The objective of this paper is to present an approach to the traveling salesman problem using Premium Solver Platform©, a commercial add-in optimization tool for Microsoft Excel©. The paper illustrates a solution approach which efficiently solves both small and large scale Traveling Salesman Problems.
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An Investigation of Factors that Influence Senior Executives to Accept Innovations in Information Technology
Guus G.M. Pijpers, Kees van Montfort |
542 |
An Investigation of Factors that Influence Senior Executives to Accept Innovations in Information Technology
Guus G.M. Pijpers
ePortals, The Netherlands
Kees van Montfort
Free University, The Netherlands
To use innovations successfully and effectively the role of acceptance is crucial, especially for innovations in the field of Information Technology (IT). Several theoretical models from the technology and social psychology are available to support the implementation of innovations. Some of these behavioral models are empirically good verified and turned out to be relevant for practical applications. In this study one of these models, i.e. the Technological Acceptance Model, will be used to investigate empirically the factors which influence the IT acceptance and actual IT use of senior executives. Many characteristics and circumstances of senior executives will be included. Also a comparison with results of other studies will be made. The approaches of these studies are, among others, more restrictive than our approach. The most significant finding is the key role perceived fun / enjoyment plays as an external variable in influencing beliefs, attitude, and usage. By emphasizing the entertainment value of managerial IT tools, computer anxiety of senior executives can be diminished and, at the same time, computer self‑efficacy improved. The study’s results also suggest that one of the prime tasks of an organization is to build a good support organization to help senior executives. This results in more self‑confident, IT literate, managers.
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An Assessment of the Consumer Ethnocentric Scale (CETSCALE) in an Advanced and Transitional Country: The Case of Canada and Russia
Kojo Saffu, John Hugh Walker |
556 |
An Assessment of the Consumer Ethnocentric Scale (CETSCALE) in an Advanced and Transitional Country: The Case of Canada and Russia
Kojo Saffu
Brock University, Canada
John Hugh Walker
Brock University, Canada
Improving our understanding of the proclivities, preferences and attitudes of consumers for foreign products is a precursor to a successful foray into international markets. The need for a measure that is cross-culturally valid and reliable underpins such a goal. This paper addresses such an issue by evaluating the properties of the CETSCALE for measuring consumer ethnocentrism in an advanced country, Canada and a country in transition, Russia. Our findings are both consistent and inconsistent with prior studies. We found the CETSCALE to be a reliable measure in both Canada and Russia with Cronbach alphas of 0.933 and 0.925 for Canada and Russia respectively. However our findings pertaining to the scale’s uni-dimensionality was inconclusive. While the scale was uni-dimensional in Canada, it was multi-dimensional in Russia. Marketing and research implications are discussed.
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The Attitudes of Donors and Non-Donors to the March of Dimes Charity in the United States: A Case Study in Non-Profit Marketing
Glen Riecken, Ugur Yavas |
572 |
The Attitudes of Donors and Non-Donors to the March of Dimes Charity in the United States: A Case Study in Non-Profit Marketing
Glen Riecken
Georgia Southern University
Ugur Yavas
East Tennessee State University
This article compares current donors, lapsed donors and nondonors to the March of Dimes. Demographic characteristics, donation motives, likelihood of satisfying these motives through donating to a charitable organization and the level of concern about a variety of health issues were compared. The three groups placed similar importance on some motives but demonstrated significant differences on others. Current donors generally placed more importance on motives. Current donors were also more likely to believe that donating to the organization would satisfy donation motives. Significant differences emerged with respect to nine of eighteen health issues; in all cases donors were more concerned than nondonors.
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The Global Supply Chain Assurance Practices of United States Automakers: A Survey
Jayanta K. Bandyopadhyay |
582 |
The Global Supply Chain Assurance Practices of United States Automakers: A Survey
Jayanta K. Bandyopadhyay
Central Michigan University
Quality assurance practices in global supply chain of American automakers have evolved through decades from quality inspection and quality control to statistical process control and quality auditing. Emergence of quality audit had been accompanied by creation of numerous customer specific quality standards. Further with globalization of the supply chain, quality assurance practices in global supply chains have been taking a new direction from that of inspection and quality control to QS‑9000/ISO‑9000 registrations, quality auditing and statistical process control. This research, present the result of a questionnaire survey., exploring the current quality assurance practices of the suppliers of automotive components, and automobile sub‑assemblers, in global supply chains of the American automakers for achieving competitiveness in world market place in this new millennium.
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An Evaluation of the Relationship between Alignment of Strategic Priorities and Manufacturing Performance
Robinson Tarigan |
586 |
An Evaluation of the Relationship between Alignment of Strategic Priorities and Manufacturing Performance
Robinson Tarigan
University of Sumatera Utara, Indonesia
The study examines the perceptions of general managers (GMs) and manufacturing managers (MMs) regarding manufacturing priorities of their business units (alignment) on manufacturing unit performance in Indonesia. Specifically, this study tests whether the performance of the manufacturing unit is enhanced when GMs and MMs agree on what are the most important strategic priorities. Further, this study tests the alignment effects on performance under high and low levels of decentralization. A sample of matched pairs of GMs and MMs is surveyed from 84 manufacturing plants. The hypotheses regarding the alignment–performance relationship is tested. This study finds that alignment of priorities is positively related to manufacturing performance. Furthermore, high levels of decentralization strengthen the positive alignment-performance relationship. Implications of the results and suggestions for future research are discussed.
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The Use of Foreign Currency Derivatives and Foreign-Denominated Debts to Reduce Exposure to Exchange Rate Fluctuations
Yi-Chein Chiang, Hui-Ju Lin |
598 |
The Use of Foreign Currency Derivatives and Foreign-Denominated Debts to Reduce Exposure to Exchange Rate Fluctuations
Yi-Chein Chiang
Feng Chia University, Taiwan
Hui-Ju Lin
Feng Chia University, Taiwan
Using monthly data of Taiwan non-financial firms during the period of 1998 to 2002, this study examines the use of two financial hedge strategies to reduce exchange rate exposure by Taiwan firms. Our empirical findings show that the use of foreign currency derivatives (FCD) is an effective hedging strategy. However, the use of foreign-denominated debts (FDD) always increases exchange rate exposures. In addition, FCD and FDD are used as complements. Our findings contradict to previous studies with the results that FCD and FDD are both used as substitutes for each other in hedging currency risks.
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The Effect of Electronic Banking on the Cost Efficiency of Commercial Banks: An Empirical Study
Jui-Chu Lin, Jin-Li Hu, Kang-Liang Sung |
605 |
The Effect of Electronic Banking on the Cost Efficiency of Commercial Banks: An Empirical Study
Jui-Chu Lin
National Taiwan University of Science and Technology, Taiwan
Jin-Li Hu
National Chiao Tung University, Taiwan
Kang-Liang Sung
E.Sun Bank, Taiwan
This study investigates the effect of electronic banking, as measured by the extent to which banks make use of automatic teller machine (ATM), on their cost efficiency, before and after the 1997 Asian financial crisis. We use stochastic frontier analysis (SFA) approach to investigate the cost efficiency of 35 commercial banks in Taiwan from 1995 to 2001 and compare their operating performance before and after the Asian financial crisis. A bank’s efficiency cannot be improved by merely increasing its ATM numbers: It should perhaps be in coordination with other electronic businesses, such as interactive video terminal (IVT) system, automated clearing house (ACH) system, point of sale (POS) system, remote banking system, financial electronic data exchange interchange, and even internet banking. The more bank branches there are, the more inefficient the banks. On average, a bank’s cost inefficiency is significantly higher after the 1997 Asian financial crisis.
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The Development of an Analytical Method for Making Fuzzy Decisions about the “Making or Buying” of Commodities
Ling-Yuan Ling, Gin-Shuh Liang, Chin-Feng Liu, Syang-Ke Kung |
612 |
The Development of an Analytical Method for Making Fuzzy Decisions about the “Making or Buying” of Commodities
Ling-Yuan Ling
National Taiwan Ocean University, Taiwan
Gin-Shuh Liang
National Taiwan Ocean University, Taiwan
Chin-Feng Liu
National Taiwan Ocean University, Taiwan
Syang-Ke Kung
Ching Yun University, Taiwan
In this paper, a new analytical method for the making of fuzzy decisions about the “making or buying” of commodities is developed. First, to efficiently handle the fuzziness of the decision variables, linguistic values were represented by triangular fuzzy numbers, to serve as the tools for evaluation. Then, using the concept of fuzzy set theory, calculation formulae for the fuzzy unit differential cost of “making or buying” and the fuzzy total differential cost are proposed to act the basis for making fuzzy decisions about the “making or buying” of commodities. By utilizing the new decision method, the decision-maker can make the best decision about the “making or buying” of commodities in a fuzzy business management environment.
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Using Strategic Alliances to Make Decisions about Investing in Technological Innovations
Ya-Hui Wang, Der-Jin Miao |
626 |
Using Strategic Alliances to Make Decisions about Investing in Technological Innovations
Ya-Hui Wang
National Chinyi Institute of Technology, Taiwan
Der-Jin Miao
Takming College, Taiwan
This article investigates share price responses to strategic alliances in Taiwan’s high‑tech industry from 1996 to 1999. Taiwan’s high‑tech industry plays an important role on the international stage, but there is nothing in the literature studying the impact of strategic alliances on Taiwan’s high‑tech industry. This study can fill the gap. Our empirical findings show that the wealth effect for a strategic alliance is positive, with no evidence of wealth transfer between alliance partners. In addition, same‑industry alliances show significantly higher abnormal returns than different‑industry alliances; equity alliances and non‑equity alliances both have significantly positive abnormal returns; and Taiwanese firms have significantly positive abnormal returns versus foreign firms in global alliances. Our empirical findings are consistent with the argument that the organizational flexibility offered by alliances is valuable to the island’s high‑tech industry which needs to cope with a fast‑changing environment.
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Relationships among Service Quality, Customer Satisfaction and Profitability in the Taiwanese Banking Industry
Ming Chang Lee, Ing San Hwan |
635 |
Relationships among Service Quality, Customer Satisfaction and Profitability in the Taiwanese Banking Industry
Ming Chang Lee, Ing San Hwan
Ming Chang Lee
Oriental Institute of Technology, Taiwan
Ing San Hwan
National Taipei University, Taiwan
This study examines whether there are economic benefits to be gained from improving service quality in the Taiwanese banking industry. Service quality is perceived quality; and different from objective or actual quality; being a judgment usually made within a customer evoked set. Service quality resembles an attitude in many ways, and service quality is distinct from customer satisfaction. Traditional financial ratios are not appropriate for measuring the economic benefits of service quality improvement. The main single factor influence on business unit performance is goods and service quality. The author develops a framework for this paper based on service quality and profitability theoretical background. Relationships are also established among service quality, customer satisfaction, and profitability. The main conclusion of this study is that the performance scale developed in the SERVPERF model and customer satisfaction in the profitability model are confirmed in the Taiwanese banking industry. The author finds that perception quality is an antecedent of attitude, service quality is an antecedent of customer satisfaction, customer satisfaction directly affects purchase intention, and customer satisfaction is an antecedent of profitability. Finally, the author finds gap between customers and service providers and thus demonstrates that Profitability is positively affected by service quality improvement.
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A Survey Investigation into the Use of the Internet among Accounting Firms
Meiping Chen, Chun‑Yao Tseng, Justine Chang |
649 |
A Survey Investigation into the Use of the Internet among Accounting Firms
Meiping Chen
National Yunlin University of Technology, Taiwan
Chun‑Yao Tseng
Tunghai University, Taiwan
Justine Chang
Chinese Culture University, Taiwan
The speedy development of the internet in the past decade has made the global information network of today like the invention of telephone centuries ago, thoroughly changing the ways that businesses operate. How would accounting firms take advantage of the internet to enhance working effectiveness and efficiency, expanding business and assisting clients, are discussed in this paper. The research aims to explore the internet applications of accounting firms in Taiwan. Data were collected through questionnaire surveys of 595 CPA firms selected randomly from the registered list of the CPA Association of Taiwan, of which 73 out of 84 questionnaires returned were effective for analysis. The study found that the main reasons for accounting firms implementing the internet were for sharing internal resources, enforcing communication with clients and cost saving, while the major usage of internet was in database research, documenting and file transmission. Results of analysis about firms after applying the internet, whether internally or externally, were all positive. Differences in internet establishment and level of usage produced different effects on accounting firms.
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The Effects of Internal Marketing and Organizational Culture on Knowledge Management in the Information Technology Industry
Chuan Lee, Wen-Jung Chen |
661 |
The Effects of Internal Marketing and Organizational Culture on Knowledge Management in the Information Technology Industry
Chuan Lee
Ming Chuan University, Taiwan
Wen-Jung Chen
Ching Yun University, Taiwan
Although the successful experiences of the Scientific Industry Park has helped develop Taiwan’s industries, technology, and economy, the high-tech industries were always working on behalf of other nation’s industries, which in actuality, were not competitive. Therefore, in order to increase the competitive capacity of domestic high-tech industries, and to add to the short life spans of high-tech industries themselves, innovation must be emphasized, and the high-tech industries must give serious consideration to the issues of internal marketing and knowledge management. Through the methods of comprehensive interviews and questionnaire surveys, the current study established the key factors and structural aspects (i.e. market research, market segmentations, communications, perspectives, development, and rewards) of internal marketing, and found that internal marketing and organizational culture has a significant effect on the knowledge management. This was then used to supply a draft to scholars doing research and high-tech companies for internal marketing and knowledge management strategies.
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The Development of a Computable General Equilibrium Model of the Economic Impact of a Science-Based Industrial Park in Taiwan
Chun-Chu Li, Chia-Yon Chen |
673 |
The Development of a Computable General Equilibrium Model of the Economic Impact of a Science-Based Industrial Park in Taiwan
Chun-Chu Li
National Cheng-Kung University, Taiwan
Chia-Yon Chen
National Cheng-Kung University, Taiwan
The primary modeling tools used to analyze regional economic issues include econometric forecasting models, fixed price Input-Output (I-O) multi-sector models, Social Accounting Matrix (SAM) and Computable General Equilibrium (CGE) models. CGE models combine the advantages of econometric, I-O models and SAM strengthening the theoretical basis of the modeling effort and thus enabling more precise policy analysis. Current CGE literature includes models used to analyze international trade, tax reform, energy and environment issues etc. However, application of this technique on a regional scale is rare in the scientific literature. In this paper, a small regional computable general equilibrium model is constructed and applied to analyze the economic impact of constructing Tainan Science-Based Industrial Park (TSBIP) locating in the Southern Taiwan. The research results provide a valuable reference for decision-makers in formulating industrial and regional policies, as well as helping business managers with strategic planning.
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Growth Strategies and Merger Patterns among Small and Medium-Sized Enterprises: An Empirical Study
Chih-Chiang Lu |
681 |
Growth Strategies and Merger Patterns among Small and Medium-Sized Enterprises: An Empirical Study
Chih-Chiang Lu
Chung Kuo Institute of Technology, Taiwan
This investigation is based on the Analytic Hierarchy Process and addresses two main issues: after small and medium enterprises (SMEs) set their development objective as growth, how should they choose the proper means of generating growth? If SMEs choose to meet their strategic objectives by merging and acquisition (M&A), what is the best method of so doing a method of M&A? Furthermore, the current policy of loaning to SMEs in Taiwan is addressed, in terms of support for, or limitation of, manufacturing M&A. The optimal M&A methods for various industries are considered. Finally, a number of recommendations are made regarding growth strategies for Taiwan SME’s and the kind of structures that are likely to be most effective for them.
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The Effect of Implementing European Union Safety Standards on the Machine Product Industry in Taiwan
Wen-Tsann Lin, Chiao-Tzu Huang, Chen-Shang Hwang |
700 |
The Effect of Implementing European Union Safety Standards on the Machine Product Industry in Taiwan
Wen-Tsann Lin
National Chin-Yi Institute of Technology, Taiwan
Chiao-Tzu Huang
National Chin-Yi Institute of Technology, Taiwan
Chen-Shang Hwang
National Chin-Yi Institute of Technology, Taiwan
The European Union has, since 1995, specified safety requirements to ensure that machinery products sold are produced and designed according to certain safety standards. This requires that the producer should prepare related documents and label the CE marking on the products. All of the machinery product manufacturers in Taiwan are well aware of the importanceof CE marking. However, the qualification process of the CE marking declaration still encounters many difficulties and bottlenecks. This study investigates the barriers to LVD directive certification in the CE marking declaration process for Taiwanese machinery product manufacturers. A survey is made of Taiwanese machinery product manufacturers that successfully implemented the CE marking process, by use of questionnaires. This study also analyzes the major points involved in the process of quality CE marking declaration, and the information feedback and internal control methodologies adopted by these machinery manufacturers. Finally, this study develops a systematic procedure to help machinery manufacturers in the CE marking declaration process.
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A Review of the Effects of Investor Sentiment on Financial Markets: Implications for Investors
Wen-Chen Lo, Ku-Jun Lin |
708 |
A Review of the Effects of Investor Sentiment on Financial Markets: Implications for Investors
Wen-Chen Lo
St. John’s & St. Mary’s University of Technology, Taiwan
Ku-Jun Lin
Tamkang University, Taiwan
Theoretically investors are thought to be rational under EMH; however, in early papers irrational investors, named as noise traders, were not been paid much attention. Based upon the studies of De Long et al (1990) and Lee et al (2002), noise traders have influences on the price formation of assets and conditional volatility. Excess returns of stocks are also affected by investor sentiment. This study provides a review of the effects of investor sentiment on financial markets. There are three suggestions for investors while making investment decisions. First, investors should take a contrarian investment strategy to gain excess returns. Second, small capital stocks are more suitable for investors who can bear larger risk. Third, undervalued stocks should be chosen to gain higher returns.
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The Development of Relations between Taiwan and the People’s Republic of China in the High-Technology Economic Sector
Yi-Chun Lin |
716 |
The Development of Relations between Taiwan and the People’s Republic of China in the High-Technology Economic Sector
Yi-Chun Lin
Central Police University, Taiwan
The competition between China and Taiwan to attract high-tech industry investment recently has become increasingly severe. This study presents an in-depth analysis of the cross-strait (Taiwan, China) high-tech industry, considering the areas of industrial environment, government policy and industrial performance. This investigation examines the likely influence of WTO entry on increasing industry competition. It reveals that considerable development space exists for improving cross-strait relationships and that a competitive and cooperative relationship may appear during the transformation process.
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