A FORMALIZED FRAMEWORK OF CONSUMER’S MENTAL PICTURES OF COUNTRY-OF-ORIGIN

Alexander Josiassen,Florian Kock,Stefanie Meß 글로벌지식마케팅경영학회 2016 Global Marketing Conference Vol.2016 No.7

The country-of-origin (COO) concept has obtained considerable attention by marketing researchers and managers since its introduction by Schooler in 1965. The relevance of this construct has been underlined by various studies indicating that a product’s COO serves as a signal for product quality, thus driving consumers’ product evaluations (Han & Terpstra, 1988), and consequently coloring their decision-making processes (Herz & Diamantopoulos, 2013). However, “despite a large body of research, country-of-origin effects are still poorly understood” (Verlegh & Steenkamp 1999, p. 521). This view is reiterated by Jaffe and Nebenzahl (2006) and Knight and Calantone (2001) who argue that academicians have so far not been able to provide an integrative theoretical framework capable of explaining the country-of-origin concept and the effects it has on behavioral intentions. The lacking consensus on a formalized and theory-based framework has resulted in various and often inconsistent views on the conceptualization of the COO concept (Laroche, Papadopoulos, Heslop & Mourali, 2005; Roth & Diamantopoulos, 2009). More specifically, several researchers view COO as a cognitive mental construct, consisting of associations, attributes and beliefs which consumers link to a particular manufacturing country (e.g. Gürhan-Canli & Maheswaran, 2000). However, other researchers propose to include not only cognitive but also affective components in the COO concept (e.g. Häubl, 1996). Further, studies also differ on the question whether COO should be viewed as a host of various beliefs (e.g. Martin & Eroglu, 1993) or rather as an overall evaluative attitudinal construct (e.g. Kotler, Haider & Rein, 1993). To complicate things further, existing studies also only loosely define whether COO should be conceptualized as a mental construct or rather as an effect that stems from a mental construct (Verlegh & Steenkamp, 1999). As a consequence, this conceptual ambiguity within the COO literature has yielded different operationalization for the measurement of the COO construct. As a consequence, and perhaps not surprisingly, the empirical work on COO has often resulted in conflicting findings (e.g. Pappu, Queste & Cooksey, 2006), limiting the advancement of the whole research area and making it harder for managers to apply it. Existing research (Josiassen, Lukas, Whitwell & Assaf, 2013) has addressed the conceptual ambiguity of COO by providing a framework for the macro-structure, explaining how different units of analysis relate to each other. However, researchers’ 1) fk.marktg@cbs.dkIntroduction The country-of-origin (COO) concept has obtained considerable attention by marketing researchers and managers since its introduction by Schooler in 1965. The relevance of this construct has been underlined by various studies indicating that a product’s COO serves as a signal for product quality, thus driving consumers’ product evaluations (Han & Terpstra, 1988), and consequently coloring their decision-making processes (Herz & Diamantopoulos, 2013). However, “despite a large body of research, country-of-origin effects are still poorly understood” (Verlegh & Steenkamp 1999, p. 521). This view is reiterated by Jaffe and Nebenzahl (2006) and Knight and Calantone (2001) who argue that academicians have so far not been able to provide an integrative theoretical framework capable of explaining the country-of-origin concept and the effects it has on behavioral intentions. The lacking consensus on a formalized and theory-based framework has resulted in various and often inconsistent views on the conceptualization of the COO concept (Laroche, Papadopoulos, Heslop & Mourali, 2005; Roth & Diamantopoulos, 2009). More specifically, several researchers view COO as a cognitive mental construct, consisting of associations, attributes and beliefs which consumers link to a particular manufacturing country (e.g. Gürhan-Canli & Maheswaran, 2000). However, other researchers propose to include not only cognitive but also affective components in the COO concept (e.g. Häubl, 1996). Further, studies also differ on the question whether COO should be viewed as a host of various beliefs (e.g. Martin & Eroglu, 1993) or rather as an overall evaluative attitudinal construct (e.g. Kotler, Haider & Rein, 1993). To complicate things further, existing studies also only loosely define whether COO should be conceptualized as a mental construct or rather as an effect that stems from a mental construct (Verlegh & Steenkamp, 1999). As a consequence, this conceptual ambiguity within the COO literature has yielded different operationalization for the measurement of the COO construct. As a consequence, and perhaps not surprisingly, the empirical work on COO has often resulted in conflicting findings (e.g. Pappu, Queste & Cooksey, 2006), limiting the advancement of the whole research area and making it harder for managers to apply it. Existing research (Josiassen, Lukas, Whitwell & Assaf, 2013) has addressed the conceptual ambiguity of COO by providing a framework for the macro-structure, explaining how different units of analysis relate to each other. However, researchers’Information about a COO is not only hold at the aggregated level, as reflected by CI, but may also be manifested through various, potentially unrelated beliefs, that individuals link with a particular country-of-origin. Attitude researchers widely agree on the notionInformation about a COO is not only hold at the aggregated level, as reflected by CI, but may also be manifested through various, potentially unrelated beliefs, that individuals link with a particular country-of-origin. Attitude researchers widely agree on the notionIn conclusion, we propose that the myriad of conceptual views on the COO concept can be theoretically integrated in a formalized model (Figure 1). Thus, instead of viewing the different conceptualizations on COO as conflicting, we show that they are indeed complementary, and can be understood by applying seminal psychology literature. The model also provides conceptual structure to the interactions between the three35 components, as well as enhancing our understanding how mental representations form behavioural intentions (Ajzen, 2001; Eagly et al., 1994).

THE EFFECT OF PRODUCT IMAGE ON COUNTRY IMAGE: THE CASE OF SOUTH KOREA

Jay Sang Ryu,Mikael And?hn,Patrick L’Espoir-Decosta 글로벌지식마케팅경영학회 2014 Global Marketing Conference Vol.2014 No.7

Country image is a construct with far-reaching commercial implications (Kotler and Gertner, 2002). It is often held up as an antecedent condition of attitude formation towards products (Verlegh and Steenkamp, 1999; Laroche et al., 2005; Zeugner-Roth and Diamantopolous, 2009), as a determinant of visiting intentions for tourist destinations (Nadeau et al., 2008; Mart?nez and Alvarez, 2010) or even as a source of political power (van Ham, 2001; Nye, 2004; Wang, 2008). However, the way in which country image is approached in the literatures dealing with it various venues of relevance almost exclusively threat the construct as a source of some exerted effect and rarely venture into the issue of how country image is formed and how it various venues of its commercial relevance interact. Some exceptions to this general rule can be found in White (2012) who explored how product image exerts a formative effect on country image, a country-of-origin effect in the inverse. Also, Nadeau et al. (2008) observed that country image as it pertains to destination image as well as to exports intersect in an interesting way and that the two areas of commercial relevance indeed are not completely separate. In the present study we postulate that the meaning attributed to a particular country’s image is the result of an oscillation of meaning between that attributed to objects (such as for instance products, destinations or people) associated to the country and the country image itself. I.e. a product perceived as being associated to a country would derive its meaning from the country image but also exert a feedback of meaning towards the country image. Any association is not only a determinant of meaning towards one of the objects in an association dyad (cf. Keller, 1993) but this meaning also, through association, transfer in the inverse direction as well. This suggests that any venue of meaning attribution to a country could potentially exert an effect on any situation in which the country in turn exerts a formative influence. For example, a product image of a product associated to a country could potentially exert an influence on the countries attractiveness as a tourist destination through a mediated influence through country image. In order to put this mechanism to the test 500 respondents from the USA (311 female, x age 46.5, respondents of Korean origin excluded) were recruited through an online panel and subjected to a psychometric test-series featuring items pertaining to the image of South Korea, the image of South Korean products and various factors pertaining to the respondent’s attitude towards South Korea as a tourist destination. The resulting data was subjected to statistical analysis using a covariance-based structural equation model approach. The results of the data analysis suggest that attitudes and notions directed to products from South Korea exert a statistically significant effect on the image of the country as a whole. This image in turn exerts an effect on the whether consumers express interest in visiting the country in their capacity as potential tourists. These results are in support of White (2012) in that they demonstrate that attitudes towards products from a particular country contribute to the attitude towards a country as a whole. The results also support Nadeau et al. (2008) in their finding that country image as it pertains to inferring the degree of quality of exports and the attractiveness of a place as a tourist destination should not be compartmentalized, but rather treated as a facets of the same construct. In the present study the case of South Korea was used with a particular goal in mind. The rather unusual historical particularities of the transition of South Koreas economy makes it highly interesting as an example for several reasons. Not only did South Koreas transition take place in a highly compressed timeframe, but it also took a route which runs counter to the notion that tourism often serves as the starting point of economic transition (Dieke, 2003; Dritsakis, 2004; Oh, 2005; Mishra et al., 2006; Kaplan and Celik, 2008) as the rise of South Korea can be said to have been driven by industrial development and exports, prior to the country becoming a popular tourist destination. The particularities of this path to a greater degree of economic development arguably shed new light on the issue of how country image can form and how it pertains to highly variable commercial contexts and how the effect the country image construct exert transect across these various venues of commercial activity.

Postentry Branding Strategy Affecting Purchase Intention in a Country-Related Product Association Context : Evidence from Korean Consumers

Han Mo Oh 한국무역연구원 2015 貿易 硏究 Vol.11 No.4

It seems common sense that a product’s country-of-origin affects consumers’ purchase decisions. Nonetheless, prior studies do not satisfactorily address how postentry branding strategy affects consumer purchase intentions in a country-related product association context. Based on the perspective of country-of-origin, the current study aims to explore the effect of postentry branding strategy on consumer purchase intentions in a country-related product association context. An experimental study is conducted in a host country market with country-related product associations in terms of cars. A 3 (postentry branding strategies: foreign brand, and foreign-local co-brand, and local-foreign co-brand) × 2 (country-related product associations: strong favorable vs. unfavorable) between-subjects factorial design is used. The results of the experiment present that in a low country-related product association, consumers prefer the foreign products with local-foreign co-brands to ones with the other brand types. In contrast, in a high country-related product association, there is little difference of consumers’ purchase intention among postentry branding strategies. The present study provides empirical evidence on how country-related product associations can affect consumers’ purchase intention of foreign products with respect to the types of postentry branding strategies. The study proposes that international marketers carefully seek out postentry branding strategies appropriate to the country-related product associations in order to yield positive outcomes in a host country market.

원산지에 대한 고정관념과 제품평가의 관계에서 인과적 판단의 매개효과 연구

김재휘,김성환,김지호 한국소비자·광고심리학회 2006 한국심리학회지 소비자·광고 Vol.7 No.2

본 연구에서는 원산지에 대한 고정관념과 제품평가의 관계에서 인과적 판단의 매개효과를 알아보았다. 특히, 그동안 원산지효과에서 지적되었던 소비자들의 심리과정을 고려하였다. 원산지효과를 검증하기 위해서, 먼저 원산지를 특정 국가에 대한 고정관념으로 정의하였다. 다음으로 제품평가에 있어 특정국가에 대한 고정관념과 특정 국가를 연상시키는 단서의 상호작용을 검증하고, 그 후 특정국가에 대한 고정관념과 특정 국가를 연상시키는 단서의 상호작용 효과와 제품평가와의 관계에서 인과적 판단의 매개효과를 검증하였다. 본 논문에서는 이 상호작용효과를 고정관념 효과라고 부른다. 연구 결과는 다음과 같다. 먼저, 제품평가에 대한 특정국가에 대한 고정관념과 특정 국가를 연상시키는 단서 사이에는 상호작용이 존재하였다. 다시 말해, 일본에 대해 부정적인 집단은 일본에 대해 긍정적인 집단보다 제품평가가 훨씬 더 부정적이었다. 두 번째로, 특정국가에 대한 고정관념과 특정 국가를 연상시키는 단서의 상호작용 효과와 제품평가 간의 관계에서 인과적 판단의 매개효과가 존재하였다. 그러므로 소비자들은 제품평가에서 특정 국가에 대한 고정관념에 의해 영향을 받을 뿐만 아니라 제품평가 순간 가지는 자신의 이유와 설명 같은, 소비자들이 의식적으로 가지는 인과적 판단에 의해서 영향을 받는다고 결론내릴 수 있다. This study investigated the mediating effect of causal judgment on stereotype toward Country-of-Origin(COO) and product evaluations. Specially, I considered psychological process of consumers which have been indicated for a long time. To test Country-of-Origin effect, first this study defined COO as stereotype toward a specific country. Second, we tested interaction of stereotype toward a specific country and a cue associating a specific country on product evaluations. and the mediating effect of causal judgment on interaction effect of stereotype toward a specific country and a cue associating a specific country, and product evaluations. In this article, I named this interaction effect stereotype effect. The results of empirical testing are as follows; First, there are interaction effects on stereotype toward a specific country and a cue associating a specific country on product evaluations. In other words, negative group about Japan is much more negative than positive group on product evaluations. Second, we found that there are mediating effect of causal judgment on interaction effect of stereotype toward a specific country and a cue associating a specific country, and product evaluations. Therefore, We concluded that consumer are effected not only by stereotype toward a specific country in product evaluations but also by causal judgment which consumers consciously have as the reason and explanation about their judgement.

Cosmopolitanism and the Mediating Effect of Country Image on Consumers’ Purchase, Visit and Investment Intentions

Ana SOUSA,Helena NOBRE,Minoo FARHANGMEHR 한국유통과학회 2018 KODISA ICBE (International Conference on Business Vol.2018 No.-

The paper aims to understandthe mediating effect of country image on the relationship between consumer cosmopolitanism and consumers’ purchase, visit and investment intentions towardsa foreign country, considering the moderating effects of ethnocentrism, materialism, product familiarity, and visits to a country in a global market. The following research questions are investigated: (1) What is the mediating effect of Country Image on the relationship between consumer cosmopolitanism and consumers’ purchase (PI), visit (VI) and investment (II) intentions, considering the moderating effects of consumer ethnocentrism, materialism, product familiarity, and visits to a country?, and (2) How the effect of the moderating variables consumer ethnocentrism, materialism, country product familiarity and visits to a country, influence the relationship between CI dimensions and consumers’ PI, VI and II towards a foreign country? Four hundred and fifty-seven valid responses from international consumers were collected through a questionnaire measuring country image dimensions, namely country cognitions and country affect, consumer dispositions toward foreign countries, and consumer behavioural intentions. These results show that country cognitions and country affect have a positive mediating effect on the relationship between consumer cosmopolitanism and consumers’ PI, VI and II. Findingsindicate that the country image dimensions mediate the relationship between consumer cosmopolitanism and consumers’ purchase, visit and investment intentions.

중국 원산지이미지에 따른 한국 소비자의 지각된 가치와 구매의도: 제조 및 브랜드 원산지 효과를 비교

최명 ( Ming Cui ),이승신 ( Seung Sin Lee ) 대한가정학회 2017 Human Ecology Research(HER) Vol. No.

To infer the true state of a regional product’s attributes, consumers use the image they have of the product’s region of origin; however, products may have multiple countries of origin in their design, branding, sourcing and manufacturing becuase more products are increasingly a result of multi-firm and multi-country efforts. We examined how the country-of-origin image (country image and product image) affect international consumers’ perceived value (function value and symbolic value) and purchase intentions of made-in China goods by extending and deepening the flexible model. Second, to investigate the differences of COO effects according to different types of country-of-origin we divided the traditional country-of-origin into two components: country-of-manufacture (COM) and country-of-brand (COB). We then explore how the impact of China’s country image on consumers’ perceived value and purchase intentions varies when China is the COM or COB of the same product. Six hypotheses were proposed to test our anticipations. We recruited 800 Korean adult consumers who previously purchased made-in China products to participate in the online investigation. Data analyses were conducted with confirmatory factor analysis and structural equation modeling using SPSS and AMOS. The main results are discussed as follows. First, the effects of China’s COO image on Korean consumers’ perceived value and purchase intentions vary when China is the COM or COB of a product. Second, a positive effect of the function value and symbolic value on the purchase intentions was found. Literature and practical implications of findings are discussed and suggested in the conclusion.

THE EFFECT OF PRODUCT IMAGE ON COUNTRY IMAGE: THE CASE OF SOUTH KOREA

Jay Sang Ryu,Mikael Andéhn,Patrick L’Espoir-Decosta 글로벌지식마케팅경영학회 2014 Global Marketing Conference Vol.2014 No.10

Country image is a construct with far-reaching commercial implications (Kotler and Gertner, 2002). It is often held up as an antecedent condition of attitude formation towards products (Verlegh and Steenkamp, 1999; Laroche et al., 2005; Zeugner-Roth and Diamantopolous, 2009), as a determinant of visiting intentions for tourist destinations (Nadeau et al., 2008; Martínez and Alvarez, 2010) or even as a source of political power (van Ham, 2001; Nye, 2004; Wang, 2008). However, the way in which country image is approached in the literatures dealing with it various venues of relevance almost exclusively threat the construct as a source of some exerted effect and rarely venture into the issue of how country image is formed and how it various venues of its commercial relevance interact. Some exceptions to this general rule can be found in White (2012) who explored how product image exerts a formative effect on country image, a country-of-origin effect in the inverse. Also, Nadeau et al. (2008) observed that country image as it pertains to destination image as well as to exports intersect in an interesting way and that the two areas of commercial relevance indeed are not completely separate. In the present study we postulate that the meaning attributed to a particular country’s image is the result of an oscillation of meaning between that attributed to objects (such as for instance products, destinations or people) associated to the country and the country image itself. I.e. a product perceived as being associated to a country would derive its meaning from the country image but also exert a feedback of meaning towards the country image. Any association is not only a determinant of meaning towards one of the objects in an association dyad (cf. Keller, 1993) but this meaning also, through association, transfer in the inverse direction as well. This suggests that any venue of meaning attribution to a country could potentially exert an effect on any situation in which the country in turn exerts a formative influence. For example, a product image of a product associated to a country could potentially exert an influence on the countries attractiveness as a tourist destination through a mediated influence through country image. In order to put this mechanism to the test 500 respondents from the USA (311 female, x age 46.5, respondents of Korean origin excluded) were recruited through an online panel and subjected to a psychometric test-series featuring items pertaining to the image of South Korea, the image of South Korean products and various factors pertaining to the respondent’s attitude towards South Korea as a tourist destination. The resulting data was subjected to statistical analysis using a covariance-based structural equation model approach. The results of the data analysis suggest that attitudes and notions directed to products from South Korea exert a statistically significant effect on the image of the country as a whole. This image in turn exerts an effect on the whether consumers express interest in visiting the country in their capacity as potential tourists. These results are in support of White (2012) in that they demonstrate that attitudes towards products from a particular country contribute to the attitude towards a country as a whole. The results also support Nadeau et al. (2008) in their finding that country image as it pertains to inferring the degree of quality of exports and the attractiveness of a place as a tourist destination should not be compartmentalized, but rather treated as a facets of the same construct. In the present study the case of South Korea was used with a particular goal in mind. The rather unusual historical particularities of the transition of South Koreas economy makes it highly interesting as an example for several reasons. Not only did South Koreas transition take place in a highly compressed timeframe, but it also took a route which runs counter to the notion that tourism often serves as the starting point of economic transition (Dieke, 2003; Dritsakis, 2004; Oh, 2005; Mishra et al., 2006; Kaplan and Celik, 2008) as the rise of South Korea can be said to have been driven by industrial development and exports, prior to the country becoming a popular tourist destination. The particularities of this path to a greater degree of economic development arguably shed new light on the issue of how country image can form and how it pertains to highly variable commercial contexts and how the effect the country image construct exert transect across these various venues of commercial activity.

THE INFLUENCE OF COUNTRY OF ORIGIN ON PURCHASE INTENTION WITH SPECIFIC REFERENCE TO APPAREL FITTING

A. Rashid,L. Barnes 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07

Introduction: Country of origin has long been of interest to many researchers (e.g. Phao, 1993; Kalicharan, 2014; Yunus and Rashid, 2016). In part, this is because consumers evaluated the quality of a product based on where it was manufactured, and this became an important issue with the majority of fashion product production taking place in developing countries. Consequently, country of origin as a branding tool became an important factor in the fashion industry (Lee et al., 2013). Previously, numerous studies have suggested that consumers’ perception of, and association with, country of origin are influenced by different factors, such as social, environmental and political factors and the workmanship of the country in question (e.g. Insch and McBride, 2004; Jim?nez and Mart?n, 2012; Lee et al., 2013; Mostafa, 2015). For example, Rashid and Barnes (2017) identified the influence the media industry has on the perception of a country’s image, i.e. the influence of a factory collapse in Bangladesh in 2013 (Bolle, 2014). In the same vein, studies on the country of origin effect have also found the influence that the halo and summary effects have on the product evaluation. For example, if consumers were less familiar with fashion products made in Indonesia, they would naturally infer the product attributes using the general image of Indonesian-made products, and thus rate the product based on their perception of the country as a whole (see also Kotabe and Helsen, 2009). In contrast, when consumers are familiar with a country’s products (i.e. fashion designers in Paris), a summary construct model operates in which consumers develop a country’s image from its product information, which then indirectly influences product perception (Han, 1989). In other words, a product naturally receives a positive attitude because of the perception of a country’s products. Moreover, studies have also examined the impact of patriotism and ethnocentric behaviour on association with country image. More recently, authors, e.g. Rashid et al. (2016) and Barnes and Rashid (2017), have also made a contribution towards managerial perspectives and issues relating to the country of origin impact on the fashion industry. However, no research to date has examined the influence of country of origin on purchase intention with specific reference to apparel fitting. Apparel fitting: Over the past two decades, authors have shown increasing interest towards the fit of apparel (e.g. Otieno et al., 2005; Apeagyei et al., 2007; Holmlund et al., 2011). For example, Shim and Bickle (1993) examined women 55 years and older as catalogue shoppers and their differences in satisfaction with the fit of apparel purchased through catalogues and found that the satisfaction level was relatively low for the entire sample of 872 respondents. Some of the key issues identified were that garment fits did not accommodate body proportions for the older market, especially those who did not fit sizes that were tailored for petit or plus sizes. Consequently, it is evident that age is an important factor in apparel fitting. Furthermore, Alexander et al. (2007) pointed out the issue of personal judgement on how a garment looks on the body. Finally, other factors have also been raised, such as fit association with comfort, body-cathexis (feelings about one’s body) and symbolic meanings in social interactions. Adding to this, Rahman et al. (2017) has also added how consumers often evaluate the product on the basis of descriptive, inferential, informational and/or visual cues, and these can be classified as extrinsic or intrinsic cues. “Extrinsic cues” are a product’s physical structure or appearance, such as price, brand name and country of origin, whereas intrinsic cues are inherent to the physical composition of a product such as fabric, fit, colour and style. Moreover, authors have very recently also looked at apparel fitting issues in online fashion retailing (Miell et al., 2017) and technologies linked to fitting, such as 3D body scanners in a retail store (Lewis and Loker, 2016). However, the apparel fit and size association with country of origin remains an under-researched area. Research design: As this study aims to explore country of origin association from an apparel fitting perspective, a qualitative interpretivist approach is adopted (Creswell, 2007; Welch et al., 2011). This is a significant contribution to the country of origin study, as previous country of origin studies from consumer perspectives have prominently been quantitative in nature (e.g. Insch and McBride, 2004; Jim?nez and Mart?n, 2012). Participants for study will be chosen using a judgemental approach, in particular female shoppers who consider fitting an important factor when deciding on the brand from which to purchase a product. To carry out the study, the project will use face-to-face semi-structured interviews. The semi-structured interview questions derive from the country of origin literature and are influenced by theory planned behaviour model (TBP) (Azjan, 1991), taking into account both individual and social factors that may influence customer intention and attitude towards apparel fitting and its association and or perception of a country. Interviews will last between 60 and 90 minutes and will be conducted by the researchers from March 2018 to September 2018. To analyse the data, a thematic analysis approach will be utilised to develop an understanding of the meaning, as interpreted by participants. Discussion and conclusion: The data collection for this study will help address the gap regarding how consumers deem fit as one of the important factors influencing purchasing behaviour, but also their perception of how they associate a fit of a product with the country of origin of different fashion brands. The findings will make a contribution to the literature on country of origin, fashion branding and product management. The study may also introduce practical implications on how to make the service better in a fashion retail setting, where apparel fit is becoming an issue. Thus, the study may also add knowledge to the literature on service marketing.

Country-specific growth opportunities, within-country heterogeneity, and the role of financial globalization

Dong Wook Lee,Lingxia Sun 한국재무학회 2016 한국재무학회 학술대회 Vol.2016 No.05

Using data for 53,365 firms from 40 countries over the period of 1991-2012, we examine the extent to which a firm’s growth opportunities are country-specific, with particular focus on its cross-firm difference within a country. We find that country-specific growth opportunities (CSGOs) are much more pronounced in small companies than in large firms. We also find that the CSGOs -- especially those for small firms -- decrease as the country becomes more open financially. The exact opposite pattern exists in the industry-specific components in corporate growth options, as they increase with the country’s financial openness, especially for small firms. The results indicate that financial globalization helps corporate growth opportunities to be priced globally than locally and reduces the within-country heterogeneity.

중국 원산지이미지에 따른 한국 소비자의 지각된 가치와 구매의도: 제조 및 브랜드 원산지 효과를 비교

최명,이승신,Cui, Ming,Lee, Seung Sin 대한가정학회 2017 Family and Environment Research Vol.55 No.5

To infer the true state of a regional product's attributes, consumers use the image they have of the product's region of origin; however, products may have multiple countries of origin in their design, branding, sourcing and manufacturing becuase more products are increasingly a result of multi-firm and multi-country efforts. We examined how the country-of-origin image (country image and product image) affect international consumers' perceived value (function value and symbolic value) and purchase intentions of made-in China goods by extending and deepening the flexible model. Second, to investigate the differences of COO effects according to different types of country-of-origin we divided the traditional country-of-origin into two components: country-of-manufacture (COM) and country-of-brand (COB). We then explore how the impact of China's country image on consumers' perceived value and purchase intentions varies when China is the COM or COB of the same product. Six hypotheses were proposed to test our anticipations. We recruited 800 Korean adult consumers who previously purchased made-in China products to participate in the online investigation. Data analyses were conducted with confirmatory factor analysis and structural equation modeling using SPSS and AMOS. The main results are discussed as follows. First, the effects of China's COO image on Korean consumers' perceived value and purchase intentions vary when China is the COM or COB of a product. Second, a positive effect of the function value and symbolic value on the purchase intentions was found. Literature and practical implications of findings are discussed and suggested in the conclusion.