FREE ELECTRONIC LIBRARY - Theses, dissertations, documentation

Pages:     | 1 |   ...   | 39 | 40 || 42 | 43 |   ...   | 156 |

«VOLUM E 1 1, N UM B E R 1 I S SN 2 1 6 8 - 0 6 1 2 F L ASH DR I V E I S SN 1 9 4 1 - 9 5 8 9 ON L I N E T h e In s t it ut e f o r Bu s i n e s s an ...»

-- [ Page 41 ] --

Margolis, J. D., Elfenbein, H. A., & Walsh, J. P. (2007). Does it pay to be good? A meta-analysis and redirection of research on the relationship between corporate social and financial performance. Working Paper, Harvard University, Cambridge, MA.

Margolis, J. D., & Walsh, J. P. (2003). Misery loves companies: Rethinking social initiatives by business.

Administrative Science Quarterly, 48: 268–305.

Nakao, Y., Amano, A., Matsumura, K., Genba, K. & Nakano, M., 2007. Relationship between environmental performance and financial performance: An empirical analysis of Japanese corporations.

Business Strategy and the Environment, 16: 106–118.

Neubaum, D. O., & Zahra, S. A., (2006). Institutional ownership and corporate social performance: the

moderating effects of investment horizon, activism, and coordination. Journal of Management 32(1):


Oh, W. Y., Chang, Y. K. (2011). The effect of ownership structure on corporate social responsibility:

empirical evidence from Korea. Journal of Business Ethics, 104:283-297.

Orlitzky, M.: (2001). Does Firm Size Confound the Relationship Between Corporate Social Performance and Firm Financial Performance? Journal of Business Ethics 33(2): 167–180.

Orlitzky, M., Schmidt F. L., & Rynes, S. L. (2003). Corporate social and financial performance: a metaanalysis. Organization Studies, 24(3): 403-441.

Patten, D.M. (1991). Exposure, legitimacy, and social disclosure. Journal of Accounting and Public Policy, 10(4): 297–308.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 195 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Pava, M. L., & Krausz, J. (1996). The association between corporate social-responsibility and financial performance: The paradox of social cost. Journal of Business Ethics, 15: 321–357.

Research Centre for Corporate Social Responsibility Chinese Academy of Social Sciences (CASS-CSR) (2011), 2011 White Paper on Chinese Firms Corporate Social Responsibility. http://www.casscsr.org/ois/uploadfile/com_content/134093693342965900.pdf [Accessed: August 20th, 2015] Reverte, C. (2009). Determinants of corporate social responsibility disclosure ratings by Spanish listed firms. Journal of Business Ethics, 88(2): 351–366.

Roberts, R. W. (1992), Determinants of Corporate Social Responsibility Disclosure: An Application of Stakeholder Theory, Accounting Organizations and Society, 17(6): 595–612.

Scherer, A., Palazzo, G., & Baumann, D. (2006). Strategic governance: how to assess board effectiveness in guiding strategy execution. Corporate Governance: An International Review, 14: 13-22.

Schmidt, S. L., & Brauer, M. (2006). Strategic governance: How to assess board effectiveness in guiding strategy execution. Corporate Governance: An International Review, 14: 13–22.

Scholtens, B. (2008). A note on the interaction between corporate social responsibility and financial performance, Ecological Economics 68(1): 46–55.

See, G. K. H. (2009). Harmonious society and Chinese CSR: is there really a link? Journal of Business Ethics, 89(1): 1–22.

Sethi, S. P. (2005). Investing in socially responsible companies is a must for public pension funds – because there is not better alternative. Journal of Business Ethics, 56: 99-129.

Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52:


Siegel, D. S., & Vitaliano, D. F. (2007). An empirical analysis of the strategic use of corporate social responsibility. Journal of Economics & Management Strategy, 16: 773-792.

Smith, J. L., Adhikari, A., & Tondkar, R. H. (2005). Exploring differences in social disclosures internationally: a stakeholder perspective. Journal of Accounting and Public Policy, 24(2): 123-151.

Spence, C. (2007). Social and environmental reporting and hegemonic disclosure. Accounting, Auditing, & Accountability Journal, 20(6): 855-882.

Stanwick, P. A. & S. D. Stanwick (1998). The relationship between corporate social performance and organizational size, financial performance, and environmental performance: an empirical examination, Journal of Business Ethics 17(2): 195–204.

Turban, D. B., & Greening, D. W. (1997). Corporate social performance and organisational attractiveness to prospective employees. Academy of Management Journal, 40:658-672.

Ullmann, A. (1985). Data in search of a theory a critical examination of the relationship among social

performance, social disclosure, and economic performance, Academy of Management Review, 10(3):


GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 196 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Walls, J. L., Berrone, P., & Phan, P. H. (2012). Corporate governance and environmental performance: is there really a link? Strategic Management Journal, 33:885-913.

Wang, Q., Wong, T. J., & Xia, L. J. (2008). State ownership, the institutional environment, and auditor choice: evidence from China. Journal of Accounting and Economics, 46(1): 112-134.


Yuan Yuan Hu is a lecturer in Accounting at Massey University, New Zealand. She has research interests in the areas of corporate social and environmental reporting, corporate governance, and performance management systems. Yuan Yuan Hu is the corresponding author and can be contacted at School of Accountancy, Massey University, Palmerston North, 4442, New Zealand.

Yanhui Zhu is a senior lecturer in Accounting, Economics and Finance at University of the West of England, United Kingdom. Her research interests include financial econometrics, asset pricing, commodity market and corporate social responsibility. Yanhui can be contacted at Department of Accounting, Economics and Finance, Faculty of Business and Law, University of the West of England, BS16, 1QY, United Kingdom.

Yuxiao Hu is an associate professor in International Business College at Shenyang Normal University, China. Her research interests include banking, Chinese finance and corporate social responsibility. Yuxiao can be contacted at International Business College, Shenyang Normal University, No. 253 North Huanghe Street, Shenyang, 110034, China.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 197 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1

–  –  –

This paper investigates the localization process of FamilyMart in Thailand using a convenience store business model and applying the dynamic capabilities concept. This study’s research method uses survey analysis, with data collected through frequent interviews with company executives in Japan and Thailand between 2013 and 2015. The results of this study show that FamilyMart could not reach break-even point in Thailand until 2009 due to financial risks, political instability, and lack of a suitable local partner. The requisite dynamic capabilities were gradually formed through experience, learning, and organizational restructuring. Eventually, in 2012, FamilyMart found a good local partner in Thailand, Central Group, and successfully transferred its expertise and know-how to the Thai market.

JEL: M16, M31 KEYWORDS: Convenience store; Retail Internationalization; Localization; Dynamic Capabilities


The major convenience store chains in Japan are shifting their focus to overseas markets as the domestic market shrinks. Although many of these chains are managed by local joint venture companies, there are surprisingly few profitable Japanese convenience store chains. By the end of July 2015, Taiwan, Thailand, and China’s FamilyMart chain was one of the few successes. Author (2015) investigates the localization process of Taiwan’s FamilyMart, and Thailand’s FamilyMart is another case study that provides a deeper understanding. However, FamilyMart reached a break-even point following 16 years in Thailand and only six in Taiwan. This indicates that differing markets and influence factors affect the results of convenience store internationalization. This paper investigates the localization process of FamilyMart in Thailand using a convenience store business model and applying the dynamic capabilities concept. This paper discusses how Japanese FamilyMart transferred its expertise and know-how to the Thai market and demonstrated other success factors that were critical for the convenience store’s internationalization.


Studies relating to Japanese convenience store operations in East Asia are rare. Kawabata (2000; 2006) and Kawabe (2006) assessed FamilyMart, but these studies focused primarily on operational development before 2006. The first study on the localization process of FamilyMart was conducted by author 2009 in China (Author, 2009). The recent study was represented by author 2015 in Taiwan (Author, 2015). This paper proposes a new model titled the “convenience business system (model)” to investigate the localization process of convenience store chains. The “convenience store business system” consists of six elements in three categories: (1) Front system: retail mix, service, quality, and cleanliness (S&QC), and store development strategy, (2) Store operation, (3) Background system: merchandise sourcing system, and merchandise supply system (distribution system and information system). Author (2015) suggests that a five-point summary explains FamilyMart’s critical success factors in the evolution of Japanese convenience stores. Thus, these five-point critical success factors are included in the proposed “convenience business system (model).” The definition of dynamic capabilities is “the firm’s ability to integrate, build, and GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 198 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 reconfigure internal and external competences to address rapidly changing environments” (Teece et al., 1997). Dawson and Mukoyama (2015) proposed using the dynamic capabilities theory to study retail internationalization. Cao (2011) demonstrated the dynamic capabilities through case studies on large store chains, and Frasquet et al., (2013) focused on the fashion apparel sector.


This study’s research method uses survey analysis, with data collected through frequent interviews with company executives in Japan and Thailand between 2013 and 2015. Additionally, historical information from newspapers and magazines, FamilyMart corporate news releases, public websites, and other corporate documents are utilized.


Market Entry Stage (1992 To 1998) Thailand’s (Siam) FamilyMart was established in 1992 as a joint venture between Japan’s FamilyMart (30%), Japan’s Itochu Corporation (10%), Thailand’s Robinson & Co. department stores (40%), and Saha Group (20%). Thailand was the first Southeast Asian country that FamilyMart entered. Therefore, FamilyMart conservatively limited the capital to one hundred million Baht (about 318 million yuan) and operated only five stores in the first two years. As a result, the transfer of the six elements of the “convenience store business system” was “weak” in the background system and “fairly weak” in the store operation and front system. This was the initial stage of FamilyMart’s internationalization. “Groping” and testing the possibility of the market were features of this stage. The overseas business experience within the company was limited, and the dynamic capabilities for internationalization only came from related experience within Itochu Corporation and shared connections (See Table 1).

Table 1: Transferring the “convenience store business system” in the market entry stage

–  –  –

The First Stage of Growth (1999 to August 2012) In July 1997, the operating rights of Thailand’s FamilyMart was transferred from the local partner to Japan’s FamilyMart, since the local partner suffered a business decline due to the financial risks in Thailand. In 1999, Thailand’s FamilyMart increased their capital investment and established a subsidiary titled SFM Holding Co., Ltd. in Thailand to meet the legal requirements for foreign investment. The transfer of the Japanese convenience store business system in the first stage of growth occurred in the following steps.

First, Thailand’s FamilyMart began to sell box lunches to improve the merchandise sourcing system.

Second, a distribution subsidiary was established and a point of sale (POS) system was introduced to improve the merchandise supply system. Additionally, S&QC was also improved. As such, the background system was improved from being “weak” in the market entry stage to “normal” in the first stage of growth through a deeper understanding of the local markets. However, the store operation temporarily became “weak” due to the company’s rapid expansion of stores that could not be supported by the employee’s education.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 199 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Eventually, this recovered from “weak” to “normal” following a revised strategy. The same situation occurred with the front system (See Table 2). In the end of 2003, a "Pacific Rim Initiative" strategy had been established for the future growth of FamilyMart by the new president Mr. Ueda. Concurrently, overseas business was positioned next to domestic business within the company. Through learning and experience, FamilyMart deepened their understanding of the local markets, which was one dynamic capability formed during this stage. In Thailand, a dynamic capability resulted from twice overcoming the risk of bankruptcy in 1997 and 2005. Finally, Thailand’s FamilyMart reached a break-even point in 2009.

Table 2: Transferring Levels of the “Convenience Store Business System” in the First Stage of Growth

–  –  –

Pages:     | 1 |   ...   | 39 | 40 || 42 | 43 |   ...   | 156 |

Similar works:

«XIV INTERNATIONAL CONGRESS ON PROJECT ENGINEERING  Madrid 2010  LA MARGINALIDAD DEL RUIDO ASOCIADO AL TRANSPORTE EN LA METODOLOGÍA DE ANÁLISIS DE CICLO DE VIDA Vicente Franco Carlos Muñoz Marta Royo Daniel Garraín Rosario Vidal Grupo de Ingeniería del Diseño, Departamento de Ingeniería Mecánica y Construcción, Universitat Jaume I, Castellón (España) Abstract The Life Cycle Assessment (LCA) methodology is a comprehensive environmental impact assessment tool whose aim is to...»

«Howell Township Schools Summer Reading List Students entering grades 3 5 in September 2016 “There is more treasure in books than in all the pirate's loot on Treasure Island.” Walt Disney *****Join our online summer reading book clubs! See the flyer at the end of this booklist. ***** www.howell.k12.nj.us ****Roscoe Riley Rules: Never Glue Your Friends to Chairs by Katherine Applegate**** ONLINE BOOK CLUB FOR STUDENTS ENTERING GRADE 3 Roscoe Riley doesn’t mean to break the rules, he just...»

«Visual Planning: Coordination and Collaboration of Multi-site Teams in Product Development Organisations Master of Science Thesis in Production Engineering JOSEFIN BERTILSSON GUNILLA WENTZEL Department of Product and Production Development CHALMERS UNIVERSITY OF TECHNOLOGY Gothenburg, Sweden 2015 Visual Planning: Coordination and Collaboration of Multi-site Teams in Product Development Organisations JOSEFIN BERTILSSON GUNILLA WENTZEL © JOSEFIN BERTILSSON AND GUNILLA WENTZEL, 2015. Department...»

«Algorithmica (2000) 28: 438–464 Algorithmica DOI: 10.1007/s004530010049 © 2000 Springer-Verlag New York Inc. Improved Routing and Sorting on Multibutterflies1 B. M. Maggs2 and B. V¨ cking3 o Abstract. This paper shows that an N -node AKS network (as described by Paterson) can be embedded in a (3N /2)-node twinbutterfly network (i.e., a multibutterfly constructed by superimposing two butterfly networks) with load 1, congestion 1, and dilation 2. The result has several implications,...»

«SPIRITUAL FOOD FOR A HUNGRY CULTURE: SPIRITUAL FATHERHOOD ACCORDING TO THE HOLY FATHERS Rev. Fr. George Dokos I. Introductory Remarks 1. Thank you to His Eminence and Clergy for opportunity to speak, although unworthy to teach 2. Opportunity, however, for mutual edification 3. St. Silouan: “God is love, and therefore the preaching of His word must always proceed from love. Then both preacher and listener will profit” (Archimandrite Sophrony, St. Silouan the Athonite, pp. 64-65). II....»

«“Gangnam Mom”: A Qualitative Study on the Information Behaviors of Korean Helicopter Mothers SoHyun Park, Seoul National University Hyunchul Lim, Seoul National University Heekyung Choi, Seoul National University Abstract This study investigates information seeking, sharing, and managing behaviors of “Gangnam mothers,” a group of dedicated Korean mothers who invest significant time and effort to micro-manage their child’s academic needs. These mothers’ vibrant and sophisticated...»

«REQUEST FOR PROPOSAL Solicitation No. 8004867 Professional IT Consulting Services Deadline for Proposal Submittal: October 31, 2013 at 2:00 p.m.(Central Time) Location: DFW Airport Procurement Office 3122 East 30th Street (Carbon Road) DFW Airport, TX 75261 Airport Board Contact: Sandra Goodman 972-973-5601 (fax) sgoodman@dfwairport.com Mail or Deliver Complete Bid Package To: Procurement and Materials Management DFW International Airport Delivery Address: 3122 East 30th Street (Carbon Road)...»

«HERRAMIENTAS PARA LA EVALUACIÓN DE LA COMPETENCIA PRINCIPIOS www.oecd.org/competition/toolkit Herramientas para la Evaluación de la Competencia Volumen I: Principios Versión 2.0 ORGANIZACIÓN PARA LA COOPERACIÓN Y EL DESARROLLO ECONÓMICOS La OCDE es un foro único donde 34 naciones trabajan conjuntamente para abordar los retos económicos, sociales y ambientales de la globalización. La OCDE encabeza también los esfuerzos para comprender y ayudar a los gobiernos a responder a nuevos...»

«HERSH, GOLAND & GREEN CERTIFIED PUBLIC ACCOUNTANTS 20335 Ventura Boulevard, Suite 400 Alexander M. Goland, C.P.A. Telephone: (818) 715-9081 Woodland Hills, CA 91364 Harold J. Hersh, C.P.A. Facsimile: (818) 715-0819 Patricia Green, EA www.hggcpas.com January 7, 2015 Happy New Year. We hope you enjoyed the holiday season because tax time is here. Please take a few minutes to read the rest of this letter and the enclosed information. Your cooperation will help us prepare your return in the most...»

«ventanas aluminio madrid ventanas aluminio madrid Aluminios Garcia Tamayo, Fabrica de En Aluminios Garcia Tamayo nos dedicamos a la fabricación, distribución y montaje de carpintería de aluminio y pvc, para puertas, ventanas Ventanas de Aluminio Romventanas, S.L.U. Romventanas, S.L., es una empresa ubicada en Madrid, y es fabricante de ventanas de aluminio, puertas, cerramientos, muro cortina etc. instalador adherido Puertas, ventanas y toldos en Madrid | Nos dedicamos a la instalación de...»

«Metodos De Clasificacion En El Proceso De Identificacion De Oradores The charge is really asking their advertising, not if you migrate also if the flow. By of internet now any consistent to build these managers in the slipping web, will get no printer for long z in easily? The dollar requires far known of usually 12 grips net and can have concerned as more. For praise, of you positioned carrying not, you will have yourself for your Metodos de Clasificacion En El Proceso de Identificacion de...»


<<  HOME   |    CONTACTS
2016 www.theses.xlibx.info - Theses, dissertations, documentation

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.