论中国的股权强制执行

包冰锋 동아대학교 법학연구소 2017 國際去來와 法 Vol.- No.18

Equity enforcement refers to that the execution applicant applies to the court for the execution of the respondent's stake in the company on the basis of the effective legal instruments with property content. As a kind of special property, the way to enforce the equity is different from that of the general property. However, China's current legal and judicial interpretation of equity enforcement is very little, especially for the limited liability company's equity enforcement. Due to the lack of corresponding procedural norms, there are many problems in practice needing to be standardized and unified. The particularly prominent problems are the debates on the feasibility of the original shareholders to exercise part of the preemptive right and the solutions to problems in freezing equity and executing special equity such as implicit equity and empty equity. Based on the situation mentioned above, this paper argues that it should deny part of the preemptive right of the original shareholders, clarify the object of the notification after freezing the equity, clarify the scope of the legal effect of the equity freeze and set up the equity receiver system, confirm that the implicit equity can not be enforced while the empty equity can be enforced and clarify the liability subject of the capital supplement responsibility. 股权强制执行是指申请执行人依据生效的具有财产性给付内容的法律文书,向法院申请执行被执行人在公司的股权。股权作为一种特殊性质的财产, 对其强制执行, 必然有别于一般财产。然而中国现行的法律及司法解释对此却规定甚少, 特别是对于有限责任公司股权的强制执行, 缺乏相应的程序规范, 实务中有许多问题亟待规范与统一。尤其突出的问题是, 原股东行使部分优先购买权之可行性争议,股权冻结中存在的许多问题如何化解和对特殊股权如隐名股权、空股股权执行时存在的问题如何解决等。基于此, 本文认为, 应当否认原股东的部分优先购买权, 明确股权冻结后的通知对象, 明确股权冻结法律效力范围并设立股权接管人制度,确认隐名股权不得强制执行, 以及确认空股股权可以强制执行并明确资本补足责任的主体。

국제환경법상 형평원칙과 기후변화체제의 협상

유희진(Yoo, Hee Jin) 국제법평론회 2012 국제법평론 Vol.0 No.38

Equity has been among the most contentious issues that stand in the way of international agreement on what the next climate change regime should look like. This article seeks to explore the concept of equity under international law and international environmental law and in climate change regime. In Part II, it is recognized that equity in international environmental law and climate change regime refers to equity as distributive justice rather than equity as corrective justice. Also, concepts such as intra-generational equity and inter-generational equity are introduced to demonstrate the content of equity. In Part III, different areas of international environmental law and international law are examined to show how equity as distributive justice has evolved to become an important principle for allocating resources and sharing burdens. Part IV demonstrates different dimensions or elements employed to argue how equity should be determined in terms of shaping a new climate change regime. Such elements or dimensions are divided into four types, namely responsibility-based equity, capabilitybased equity, basic needs-based equity and equality-based equity.

형평에 따른 법해석과 흠결의 보충

최봉철 성균관대학교 법학연구원 2009 성균관법학 Vol.21 No.3

Equity has played various roles in the history of law. It has been always used as important grounds when the judge apply law and mitigate the punishment, and when the ruler make pardon the criminals. It has also facilitated the institutionalization of mediation and arbitration, and the establishment of court of equity in the common law countries. In this paper, I confine my study of equity to the idea and roles of equity in judicial interpretation and gap filling. For that purpose, I pick up three equity philosophers who are Aristotle, Aquinas and Hobbes. To compare the role of equity in legal interpretation and gap filling, it is very useful to distinguish legal interpretation and gap filling on the one hand, and between express gap and hidden gap on the other. Though three philosophers shared the word of equity, each of them bestowed different meaning on it. Aristotle saw it identical with legislative intent. Though Aquinas sometimes referred equity as legislative intent, he regarded it as the principles of natural law such as justice or common good. This means that the legislator is assumed to be rational. Hobbes defined equity as equal treatment, and then proposed that its meaning should be decided by the sovereign will. These thinkers have a unanimous opinion on what instances the equity could be applied. First, the judge may interpret the law under the ideal of equity, but she is not allowed to interpret it against the letter of law. Second, where there are express gaps in the law, the judge may adjudicate the case according to equity for there is no law to govern the case. Third, when the judge confronts exceptional case, the judge may decide the case according to equity, though there are the laws governing the case. They all agree that the judge should not amend law, which means the judge should interpret law within the letter of law, and that gap filling by equity does not amend law because the judge decide the exceptional case by equity. In addition, their theories of interpretation can be classified as textualism.

The Relationship among Country of Origin, Brand Equity and Brand Loyalty : Comparison among USA, China and Korea

Eunju Ko(고은주),Kyung Hoon Kim(김경훈),Sook Hyun Kim(김숙현),Guofeng Li(李国锋),Peng Zou(邹鹏),Hao Zhang(张昊) 한국마케팅과학회 2009 마케팅과학연구 Vol.19 No.1

市場環境的競爭日趋激烈, 要求企業把他們的産品投入到國際市場。但是如果不能对消费者的核心价值观和需求进行深入了解并作出充分的反应,企业就无法在全球消费市场获得有竞争性的影响力。品牌資産是企業的一種重要資産。尤其是在運動服裝領域, 品牌資産能够通過他的品牌的名字增加産品的效用和價値。不仅品牌資産會影響消費者態度. 其他因素, 如國家地區也有这種作用。本硏究探討原産國和品牌資産之間的關係, 以及它們如何影響消費者對某一品牌的忠誠。本硏究關注運動鞋市場, 這是因爲這一市場爲世界範圍內的生産者提供了更多機會。 本硏究的目的包括 : 1 原産國大品牌資産的影響 ; 2 品牌資産如何影響消費者的品牌忠誠 ; 3 在三國之間原産國和品牌資産的影響是否有所不同 ; 4 對不同的生活方式, 原産國和品牌資産的影響是否有所不同在文獻綜述的基礎上提出以下假設 : H1-a: 國家形象對原産國有積极影響 ; H1-b: 産品認知對原産國有積极影響 ; H2-a: 感知質量對品牌資産有積极影響 ; H2-b: 感知價格對品牌資産有積极影響 ; H3: 原産國對品牌資産有積极影響 ; H4: 品牌資産對品牌忠誠有有積极影響 ; 硏究結果可以歸納爲 : 在三個國歌之間, 運動鞋購買行爲、喜愛品牌、購買品牌、購買地點、信息使用和喜愛的運動項目都有顯著差異。硏究結果把原産國、品牌資産和品牌忠誠的關係擴展到運動鞋市場。品牌資産在三個國家中都與品牌忠誠有顯著關係。影響品牌資産的因素在三國之間有所不同。本硏究還將三國的消費者按生活方式劃分爲 : 前衛型、跟随型和落伍型。不考慮國家界限整合成新的消費者群體, 崱每個群體內部有相似的偏好和購買品牌。所有的消費者都認爲品牌資産影響品牌忠誠。對于前衛型消費者來說, 感知價格是影響品牌資産的唯一因素, 品牌本身更爲重要。落伍者不關心任何因素, 對于跟随型消費者, 除了感知價格其他因素都是重要的。 當一個品牌引入新的市場時, 營銷經理需要考虑品牌資産。本地化是基本策略。對于全球品牌來說, 了解各個國家消費者的共性特征比全球戰略更爲重要。 The marketing environment has become competitive to an extent that requires firms to target their products at markets that span national boundaries. However, competitive clout cannot be achieved in global consumer markets unless firms thoroughly understand and adequately respond to the core values and needs of those consumers. Brand equity is one of the most important assets to a company. Especially in sportswear markets, brand equity is the crucial value added to a product by its brand name. Factors such as country of origin also influence customer’s attitude towards brand equity. Therefore, this paper discusses the relationship between country of origin effect and brand equity, and how they influence consumers’ loyalty for respective brands. This paper focused on the sports shoes market, because it is an increasing area of opportunity for world manufacturers. The objectives of this study were the following. (1) Test the effect of country of origin on brand equity. (2) Test how brand equity influences consumers’ brand loyalty. (3) Find whether there are differences in the effects of country of origin and brand equity among the three countries. (4) Find whether there are differences in the effects of country of origin and brand equity among the different lifestyles. Based on the review of literature results, the hypotheses are concluded as the following: H1-a: Country image has positive influence on country of origin. H1-b: Product perception has positive influence on country of origin. H2-a: Perceived quality has positive effect on brand equity. H2-b: Perceived price has positive effect on brand equity. H3: Country of origin has positive effect on brand equity. H4: Brand equity has a positive impact on brand loyalty. Research model was constructed (see Fig. 1). After data analysis, the following results were concluded: sports shoes purchase behavior showed significant differences among Korean, Chinese, and American consumers for favorite brand, purchased brand, purchased place, information usage, and favorite sports games. The results of this study also extend the research of the relationship among country of origin, brand equity and brand loyalty to the sports shoes market. Brand equity was proven to have a significant relationship with brand loyalty for all countries. The factors which can influence brand equity are different for different countries. The third finding of this paper is that we identified different three lifestyles, adventurer, follower, and laggard, for Korean, Chinese and American consumers. Without the nationality boundary, seeing the emergence of a new group of consumers who have similar preferences and buy similar brands is more important. All of the consumers consider brand equity to keep their brand loyalty. Perceived price is the only factor which can influence brand equity for adventurers; brand is more important for them. The laggards were not influenced by any factor. All of the factors expect perceived price are important for the followers. Marketing managers should consider brand equity when introducing their brand into a new market. Also localization is the basic strategy that all the sports shoes companies should understand. But as a global brand, understanding the same characteristics for each country is more important to build global strategy.

The Application of Customer Equity Concepts in Cellular Phone: Antecedents, Constructs, and Consequences

Park, Seong Yong KNU The Institute of Management Economy Research 2011 Asia-Pacific Journal of Business Vol.2 No.1

Generally, higher brand equity ends up with higher market share and higher profitability. However, superior brand equity does not guarantee the success in the market. That is, consumer choice is closely related to brand equity but we need more than brand equity to explain this complex phenomenon. We adopt the customer equity concepts: value equity, brand equity, and retention equity. By incorporating value equity and retention equity into customer equity, it is possible to avoid the problems of using the brand equity only. In the paper, we apply this customer equity concepts to cellular phone and investigate the effects of antecedent variables such as exposure, knowledge, positive experience and negative experience on the components of customer equity. In addition, as surrogate measure of customer lifetime value, the weighted measure of purchase intention, consideration set inclusion, and next purchase is used as dependent variable. We estimate the effects of components of customer equity at the brand level and aggregate level using SURE model. Estimation results show that Apple has currently low market share but has high future potentials and Korean firms have currently high market share but has rather low future potentials.

BRAND EQUITY: A LONGITUDINAL ANALYSIS OF MIND-SET METRICS WITH PANEL DATA

Alexander Witmaier 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07

Introduction The concept of brand equity has been receiving considerable interest from academia and practice in the past decades. While mutual understanding exists on the importance of establishing high-equity brands, less agreement among academics and practitioners prevails regarding its conceptualization and operationalization. Many approaches have been proposed to measure brand equity in academic literature and numerous competing companies such as Millward Brown, Interbrand, or Young & Rubicam offer commercial metrics and brand evaluations, which are likely to estimate different values to a specific brand. This study reflects a consumer-based perspective on brand equity, which resides in the heart and mind of the consumer and captures the value a brand endows beyond the attributes and benefits its products imply. Growing calls for the accountability of marketing has resulted in increasing interest in marketing metrics, which includes mind-set metrics to address the “black box” between marketing actions and consumer actions in the market. Theoretical Development One of the most prominent conceptualizations of brand equity is based on the premise that brand equity is “the differential effect of brand knowledge on consumer response to the marketing of the brand” consisting of brand awareness and brand image as the predominant dimensions that shape brand knowledge. In this model, a crucial role is ascribed to consumer’s associations with a brand as a reflection of its image. Accordingly, brand building and differentiation is based on establishing favorable, strong, and unique associations. Human associative network theory is a widely accepted concept to explain the storage and retrieval of information and has been largely applied in the context of brands. Associative network theory suggests that brand information is stored in long-term memory in a network of nodes that are linked to brand associations such as attributes, claims or evaluations. Consumers use brand names as cues to retrieve associations. Once cues activate corresponding nodes and consumers retrieve information from memory, the activation spreads to related nodes. Consequently, a transfer of associations can also occur through associative chains in a process of attitude formation. Consumer response to a brand can be of attitudinal and behavioral character and research on attitudes supports the general notion that both, affective and cognitive structures, explain attitude formation. The predictive properties of attitudes regarding actual behavior have been acknowledged by prior research and the attitude-behavior relationship has been established. Research Design Operationalization of Brand Equity This study distinguishes between attitudinal and behavioral measures of brand equity. The behavioral measures of brand equity should reflect the attitudinal brand equity components in predicting product-market outcomes. High brand equity should lead to a willingness to pay a price premium, purchase intention and willingness to recommend. Survey Brand equity measures are tested with two waves of data collection2 from online surveys conducted in 2015 and 2016. Respondents were recruited from a professional panel provider to ensure that the same respondents participated in wave two after a year from the first wave. Participants were selected according to a quota regarding age and gender to increase representativeness and were then randomly assigned to one of the three industries beer, insurance, and white goods capturing brand equity from different perspectives and allowing for a more holistic view. Sample The sample for the first wave consists of 2.798 respondents. The sample was matched with the response from wave two and only those respondents were selected who participated in both waves. Given the panel mortality rate, the final sample size for longitudinal analysis is 1.292 observations. The respondents’ age ranges from 18 to 74 with 52 percent being male and 48 percent female. Analysis Panel regression is used to estimate models assessing the relative importance of various brand equity metrics regarding the three outcome variables for the three categories included. The results suggest that no universal brand equity metric dominates that can be applied to predict behavioral outcomes across categories. Yet, category-specific brand equity metrics prevail across outcomes. Consumers seem to evaluate a strong brand as an entity they can personally connect to in the insurance category. In the beer category, consumers’ evaluation of strong brands reflects deep affect and the perception of product quality. High equity brands relate to loyal consumers with strong affective evaluations in the category of durable household products. Moreover, the results indicate that brand equity measurement can be simplified to a small subset of metrics without risking loss of model fit and predictive power. Discussion While a plethora of brand equity metrics exists, the results of this study suggest that brand managers can apply a small subset of available metrics to track their brands’ equity and predict behavior without implementing long surveys that require considerable time and effort from increasingly overloaded consumers. Yet, adjustments to the composition of brand equity metrics might be inevitable in light of category-specific effects. Moreover, the results reveal that a consideration of metrics capturing affective components such as brand self-connection and deep feelings such as brand love is indispensable for brand equity measurement. Including emotional measures and extending established brand equity metrics that are deeply rooted in extant research might provide a considerable advantage when it comes to measuring brand value in different product categories. References are available upon request.

브랜드 자산 측정법의 재고찰

이승필(Lee, Seung Pil),권영범(Kwon, Youngbum) 한국사회체육학회 2015 한국사회체육학회지 Vol.0 No.62

The purpose of this study is to empirically test two well-known brand equity measurement scales(Aaker’s multidimensional brand equity and Yoo et al.’s brand equity model combining multidimensional brand equity and overall brand equity) based on the recommendation of extant research to better understand and more effectively measure brand equity in the Korean sport industry setting. The present study used a sample of 274 actual consumers from four major shopping areas in two metropolitan cities in Korea. Techniques for data analysis included confirmatory factor analysis, reliability/validity analysis, and structural equation modeling analysis by using Amos 22.0 Mac Version. The findings of this study were as follows. First, the model fit indices, reliability, and validity of both brand equity scales were satisfactory. Second, the effect of brand equity on purchase intention is more significant in Yoo et al.’s model combining multidimensional brand equity and overall brand equity. Third, brand association and brand loyalty played the positive and direct roles in brand equity. Although perceived quality and brand awareness did not have a direct significant influence on brand equity, they indirectly affect brand equity by influencing brand association and brand loyalty.

An Analysis of Private Equity Funds in Korea and Their Role in the Korean Economy in the Post-Crisis Period

SHIN, JIYEON,WOO, WONSEOK Institute for International Trade and Cooperation 2008 Asian International Studies Review Vol.9 No.1

This paper aims to argue that private equity funds play a critical role in the Korean economy and that their presence, now and in the future is essential. Moreover, domestic private equity funds will be complementary to foreign private equity funds, not a substitute, at least for the time being. In arguing so, we will look into the investment experiences of foreign private equity funds and see how foreign private equity funds have helped transform the economy in the post-financial crisis era. We will also look at the domestic private equity funds market to examine the replicability of private equity-driven growth in Korea. The paper will conclude with further recommendations for the growth of the private equity market. In the past five years or so, Koreans have come to be familiar with names such as Carlyle, Newbridge Capital, Lone Star, etc. These are the names of major foreign institutional investment firms that bought out the Korean domestic banks, Koram Bank, Korea First Bank, and Korea Exchange Bank. Recently, with the incident of the Lone Star scandal disclosed in regards to its acquisition of Korea First Bank, the Korean media have given extensive coverage to the issues relating to private equity funds. Especially after the scandals involving foreign investors, there is public discontent about the large volume of oreign private equity funds, mainly in the financial sector, that seem to 'eat and run' once increased profits have been made. People have scrutinized investments of this kind with critical eyes. Nevertheless, we should acknowledge the contributions that the foreign private equity funds have played in various sectors of the economy in the post-crisis period. Foreign funds have invested in troubled Korean firms, understanding any risks involved, and successfully turned them around for the better. To that end, even if domestic private equity funds that have been set up since 2004 have not yet performed to the market expectation, we have to understand that they have further roles to play as we anticipate growth of the M&A market in the coming years.

고객자산 구축과 관리에 관한 연구

양희석(Yang, Hee Seock) 한국서비스경영학회 2014 서비스경영학회지 Vol.15 No.5

During the past decade, domestic researches have revealed that customer equity of Korean firms consists of value equity, brand equity and retention equity(relationship equity). However, customer equities from each of the firms and industries are constructed differently and are not managed in the same manner. Depending on the nature of an industry or a firm, the type of building, and management of customer equity should be differentiated. More so, service firms should initially build customer equity with the basis of value equity. In this way, they can build a relationship equity effectively, and thus make close customer relationships. Therefore, the direction of strategy for service firms to strengthen customer equity should be through consolidating brand equity and relationship equity on the basis of value equity. The three components of customer equity of service firms appear to be various de- pending on the characteristics of each firm, and the management should thus be differentiated. In order to strengthen customer equity, enhancing customer loyalty, achieving customer satisfaction and effective CRM implementation should be done. The significances of this study are that it organized the previous studies of customer equity for the past 10 years in Korea and suggest the direction of further research, helping managers of service firms to strengthen customer competitiveness by consolidating customer equity. However, this study has a limitation due to the fact that it is based on previous research. Further study of customer equity with a deeper and broader sense would overcome such limitation.

Customer Equity Drivers and CLV of the Department Stores in Seoul

김현숙,민지영,이유리 한국복식학회 2010 International journal of costume and fashion Vol.10 No.2

Study aims to identify customer equity drivers and their relative importance, to represent customer lifetime value (CLV) distribution, and to investigate the effect of customer equity drivers and demographics on CLV when shopping apparels at the four big department stores in Seoul. Recently, Korean department stores marked significant decrease in sales volume and it calls for more focus on customer orientation. Customer equity is a managerial concept which considers customers as a valuable asset for business success. Sustainable competitive advantage is attainable when customer equity drivers and CLV are measured, managed and enhanced, results identified four dimensions of customer equity drivers such as ‘retail brand equity’, ‘relationship equity’, ‘retail service equity’, and ‘price value equity’. Among them, ‘relationship equity’ was proved to be the most influencing factor on the customer’s store patronage intention. The CLV distribution represented unique characteristics of each department store. The level of CLV depended on such demographics as age and income. Marital status influenced the relationship between perceived customer equity drivers and CLV. It also analyzed competitive structure of the four big department stores in Seoul and offered managerial suggestions. This study provided conceptual framework for the future study of customer equity related to apparel shopping at the department stores as well as managerial implications.