Your browser does not support the PubReader view.
Go to this page to see a list of supporting browsers.
International Area Studies Review
[ Article ]
International Area Studies Review - Vol. 28, No. 2, pp.167-183
ISSN: 2233-8659 (Print)
Print publication date 30 Jun 2025
DOI: https://doi.org/10.69473/iasr.2025.28.2.167

Market Shock and Export Competence: A Comparison of Korean Companies Before and After the COVID-19 Pandemic

Kil Yong Seong ; Su Wan Kim ; Yawei Li ; Chun Su Lee*
Research Professor, Division of International Commerce, Pukyoung National University, Republic of Korea
Professor, Ingenium College of Convergence Studies, Hankuk University of Foreign Studies, Republic of Korea
Research Professor, Sichuan University of Science & Engineering, China
Professor, Division of International Commerce, Pukyoung National University, Republic of Korea

Correspondence to: *Email: leecs@pknu.ac.kr

Abstract

The purpose of this study is to analyze export competitiveness according to market shocks. For the empirical analysis of this study, we examined the factors affecting the export competitiveness of Korean companies during the COVID-19 pandemic, which can be considered a market shock. To this end, we compared and analyzed the differences in factors between two contrasting market conditions, that is, a typical trade environment and an abnormal market condition such as the COVID-19 pandemic. The factors affecting export competitiveness consisted of human capital, export market orientation, and partnership management. The analysis results showed that normal market conditions, sales, human capital, export market orientation, and partnership management had a significant impact on export competitiveness. However, under market shock conditions such as the COVID-19 pandemic, company age, export market orientation, and partnership management were important factors. This study is meaningful in that it empirically compared and analyzed the factors affecting export competitiveness under the market shock situation of the COVID-19 pandemic and normal conditions for Korean companies.

Keywords:

Export competence, Human capital, Export market orientation, Partnership management, COVID-19 pandemic, Market shock

AI Acknowledgment

Generative AI or AI-assisted technologies were not used in any way to prepare, write, or complete essential authoring tasks in this manuscript.

Declaration of Conflicting Interests

The authors declared no potential conflicts of interest concerning the research, authorship, and/or publication of this article.

Funding

The authors received no financial support for the research, authorship, and/or publication of this article.

References

  • Acikdilli, G., Mintu-Wimsatt, A., Kara, A., & Spillan, J. E. (2022). Export market orientation, marketing capabilities and export performance of SMEs in an emerging market: A resource-based approach, Journal of Marketing Theory and Practice, 30(4), 526–541. [https://doi.org/10.1080/10696679.2020.1809461]
  • Alteren, G., & Tudoran, A. A. (2019). Open-mindedness & adaptive business style: Competences that contribute to building relationships in dissimilar export markets. International Marketing Review, 36(3), 365–390. [https://doi.org/10.1108/IMR-08-2017-0142]
  • Assadinia, S., Boso, N., Hultman, M., & Robson, M. (2019). Do export learning processes affect sales growth in exporting activities? Journal of International Marketing, 27(3), 1–25. [https://doi.org/10.1177/1069031X19848425]
  • Atkin, D., Khandelwal, A. K., & Osman, A. (2017). Exporting and firm performance: Evidence from a randomized experiment. The Quarterly Journal of Economics, 132(2), 551–615. [https://doi.org/10.1093/qje/qjx002]
  • Bari, M. T., & Jayanthakumaran, K. (2021). Networks, human capital and export success: evidence from Bangladesh. Empirical Economics, 61(3), 1539–1566. [https://doi.org/10.1007/s00181-020-01903-6]
  • Barney, J. (1991), Firm resources & sustained competitive advantage. Journal of Management, 17(1), 99–120. [https://doi.org/10.1177/014920639101700108]
  • Boso, N., Adeola, O., Danso, A., & Assadinia, S. (2019). The effect of export marketing capabilities on export performance: Moderating role of dysfunctional competition. Industrial Marketing Management, 78, 137–145. [https://doi.org/10.1016/j.indmarman.2017.09.006]
  • Brambilla, I., Lederman, D., & Porto, G. (2019). Exporting firms and the demand for skilled tasks. Canadian Journal of Economics, 52(2), 763–783. [https://doi.org/10.1111/caje.12382]
  • Caglayan, M., & Demir, F. (2014). Firm productivity, exchange rate movements, sources of finance, and export orientation. World Development, 54, 204–219. [https://doi.org/10.1016/j.worlddev.2013.08.012]
  • Christopher, M., Payne, A., & Ballantyne, D. (2013). Relationship marketing. Routledge. [https://doi.org/10.4324/9780080516042]
  • Drost, E. A. (2011). Validity and reliability in social science research. Education Research and Perspectives, 38(1), 105–123. [https://doi.org/10.70953/ERPv38.11005]
  • Gutiérrez, A. C. (2023). Exporting Competence: A theoretical framework. Commercium Plus, 5(1), 109–121. [https://doi.org/10.53897/RevCommerP.2023.05.08]
  • Harrison, G. J., & Pooe, D. (2022). Modelling the antecedents for export orientation, innovation capacity and performance for South African manufacturing SMEs. Acta Commercii, 22(1), 1–12 [https://doi.org/10.4102/ac.v22i1.989]
  • Hennig-Thurau, T., Gwinner, K. P., & Gremler, D. D. (2002). Understanding relationship marketing outcomes: An integration of relational benefits and relationship quality. Journal of Service Research, 4(3), 230–247. [https://doi.org/10.1177/1094670502004003006]
  • Hong, P. M. (2021). The importance of export diversification for developing ASEAN economies. ISEAS Yusof Ishak Institute.
  • İpek, İ, Bıçakcıoğlu-Peynirci, N., & Hizarcı, A. K. (2023). A meta-analytic synthesis of how market and entrepreneurial orientation contribute to export performance: Do home country institutions matter? Industrial Marketing Management, 108, 1–22. [https://doi.org/10.1016/j.indmarman.2022.11.001]
  • Khalid, S., & Bhatti, K. (2015). Entrepreneurial competence in managing partnerships and partnership knowledge exchange: Impact on performance differences in export expansion stages. Journal of World Business, 50(3), 598–608. [https://doi.org/10.1016/j.jwb.2015.01.002]
  • Liu, G., Pang, L., & Kong, D. (2017). Effects of human capital on the relationship between export and firm innovation. Chinese Management Studies, 11(2), 322–345. [https://doi.org/10.1108/CMS-01-2017-0020]
  • Mitręga, M. (2023). SME networking capabilities in export markets and contingencies related to power asymmetry and brand assets. Industrial Marketing Management, 110, 129–146. [https://doi.org/10.1016/j.indmarman.2023.03.001]
  • Munch, J. R., & Skaksen, J. R. (2008). Human capital and wages in exporting firms. Journal of International Economics, 75(2), 363–372. [https://doi.org/10.1016/j.jinteco.2008.02.006]
  • Nham, N. T. H., & Bao, N. K. Q. (2023). Nonlinear effects of digitalization on export activities: An empirical investigation in European countries. Technological and Economic Development of Economy, 29(3), 1041–1079. [https://doi.org/10.3846/tede.2023.17061]
  • Park, S. H., & Luo, Y. (2001). Guanxi and organizational dynamics: Organizational networking in Chinese firms. Strategic Management Journal, 22(5), 455–477. [https://doi.org/10.1002/smj.167]
  • Paul, J., & Dhiman, R. (2021). Three decades of export competitiveness literature: systematic review, synthesis and future research agenda. International Marketing Review, 38(5), 1082–1111. [https://doi.org/10.1108/IMR-12-2020-0295]
  • Perroni, C., & Suverato, D. (2023). Skills scarcity and export intensity. Canadian Journal of Economics, 56(2), 719–757. [https://doi.org/10.1111/caje.12650]
  • Podsakoff, P. M., MacKenzie, S. B., Lee, J., & Podsakoff, N. P. (2003). Common method biases in behavioral research: a critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879. [https://doi.org/10.1037/0021-9010.88.5.879]
  • Presutti, M., Fratocchi, L., & Odorici, V. (2024). The impact of strategic orientations on the born globals’ export performance: An ambidexterity approach. Management International Review (MIR), 64(5), 811–841. [https://doi.org/10.1007/s11575-024-00552-6]
  • Safari, A., & Saleh, A. S. (2020). Key determinants of SMEs’ export performance: a resource-based view and contingency theory approach using potential mediators. Journal of Business & Industrial Marketing, 35(4), 635–654. [https://doi.org/10.1108/JBIM-11-2018-0324]
  • Schreiner, M., Kale, P., & Corsten, D. (2009). What really is alliance management capability and how does it impact alliance outcomes and success? Strategic Management Journal, 30(13), 1395–1419. [https://doi.org/10.1002/smj.790]
  • Seong, K. Y., Kim, B. G., & Lee, C. S. (2024). The impact of corporate capabilities on management performance: Focusing on the Korean distribution industry during the COVID-19 pandemic. Journal of Distribution Science, 22(3), 105-112.
  • Skarmeas, D., Katsikeas, C. S., Spyropoulou, S., & Salehi-Sangari, E. (2008). Market and supplier characteristics driving distributor relationship quality in international marketing channels of industrial products. Industrial Marketing Management, 37(1), 23–36. [https://doi.org/10.1016/j.indmarman.2007.04.004]
  • Stoian, M., Rialp, A., & Rialp, J. (2011). Export performance under the microscope: A glance through Spanish lenses. International Business Review, 20(2), 117–135. [https://doi.org/10.1016/j.ibusrev.2010.07.002]
  • Subramaniam, M., & Youndt, M. A. (2005). The influence of intellectual capital on the types of innovative capabilities. Academy of Management Journal, 48(3), 450–463. [https://doi.org/10.5465/amj.2005.17407911]
  • Suwannarat, P. (2016). The study of export intermediary performance determinants. Multinational Business Review, 24(2), 123–143. [https://doi.org/10.1108/MBR-10-2015-0050]
  • Teece, D. J. (2007). Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350. [https://doi.org/10.1002/smj.640]
  • Wang, T., Deng, X., Sheng, S., & Jia, Y. (2024). Mitigating the damage of a global pandemic on the international buyer-supplier relationship: Evidence from Chinese suppliers. Journal of Business Research, 172, 114446. [https://doi.org/10.1016/j.jbusres.2023.114446]
  • Wickramasekera, R., & Oczkowski, E. (2004). Key determinants of the stage of internationalisation of Australian wineries. Asia Pacific Journal of Management, 21, 425–444. [https://doi.org/10.1023/B:APJM.0000048712.45272.6c]