S-Space College of Business Administration/Business School (경영대학/대학원) Institute of Management Research (경영연구소) 경영논집 경영논집 vol.38 (2004)
자동차 A/S 부품 유통에서의 정보비대칭성에 관한 연구
An Empirical Study on the Signaling Effect of Intermediary Brand in Korean Automotive Components Industry
- 주우진; 김현식; 송미령
- Issue Date
- 서울대학교 경영대학 경영연구소
- 경영논집, Vol.38 No.4, pp. 99-123
- Automotive Components Industry; Information Asymmetry; signalling; Game Theory; Market Failure; Intermediary Brand; Empirical Study
- Market failure problem has been one of the key issues in marketing research area since
Akerlof (1970) proposed the urgency of the issue. Although many researchers pointed out the
validity of the theoretical results, the empirical studies are insufficient. Chu and Chu’s study
(1994) is one of the theoretical researches which have not yet been proven empirically but
calls for empirical validation.
In this paper, we examine the asymmetric information problem in the automotive
components industry through the data gathered in Korean automotive components industry.
We find that there is some possibility of market failure in the industry and the intermediary
brand may be a proper signal of the hidden quality of automotive components. These
findings give support to the theoretical predictions of Chu and Chu (1994).