The capital asset pricing model has failed to explain the effect of systematic risk (referred to as beta) on actual stock market returns. Accordingly, this study analyzes daily…
Abstract
Purpose
The capital asset pricing model has failed to explain the effect of systematic risk (referred to as beta) on actual stock market returns. Accordingly, this study analyzes daily returns by splitting it into overnight and daytime returns. The study analysis empirically confirms a positive relationship between overnight returns and beta and a negative relation between daytime returns and beta. Furthermore, this paper aims to determine that empirical results are mostly the same with three different beta calculations, namely, daily, overnight and daytime returns. The study concludes that beta on overnight returns has the strongest explanatory power and is statistically significant.
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Jun Sik Kim and Sol Kim
This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications…
Abstract
This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.
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Chang Kyu Park, Dae Hoon Lee and Tae Jin Kang
Focuses on Korean garment manufacturing and the feasibility and benefits of introducing an expert system. Reviews previous literature on knowledge‐based system and describes in…
Abstract
Focuses on Korean garment manufacturing and the feasibility and benefits of introducing an expert system. Reviews previous literature on knowledge‐based system and describes in detail the stages followed in developing, constructing, testing, evaluating, integrating, implementing and maintaining the expert system. Concludes that an expert system could be used to solve various garment manufacturing problems and would contribute to garment quality improvement through a standardized apparel production process.
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This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93…
Abstract
This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93) regime, in which Korea struggled for fundamental reforms of the earlier centrally controlled state system through economic rationalization and labor flexibilization. During that juncture of Korean history, neo‐liberalization under the influence of Fordian decline was a governing theme behind the Korean economy's policy formation as well as labor agenda. This reliance of government on the neo‐liberal pillar has made an impact on the subsequent leaderships under Young Sam Kim (1993–1998) and Dae Jung Kim (1998‐present). After briefly reviewing the major aspect of Korean economy and labor problems surrounding the financial crisis of East Asia around 1998, the international influence of Fordian decline and neo‐liberalization as a Korean alternative has been discussed.
Chang Kyu Park, Dae Hoon Lee and Tae Jin Kang
The AATCC grades of seam pucker do not provide sufficient information for analysing and solving the problems. Develops a new measurement system which redefines seam pucker with…
Abstract
The AATCC grades of seam pucker do not provide sufficient information for analysing and solving the problems. Develops a new measurement system which redefines seam pucker with shape parameters and evaluates it using artificial intelligence. New standards of seam pucker with five shape parameters were developed. Shows that prediction and optimization for seam pucker are possible using these means. The system has already been employed in men’s suit manufacture.
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Dongmin Kye, Jeongeun Lee and Kang‐Dae Lee
This paper aims to explore the perceived impact of packaging logistics on the efficiency of freight transportation (EOT), and examine the interaction and relationship between…
Abstract
Purpose
This paper aims to explore the perceived impact of packaging logistics on the efficiency of freight transportation (EOT), and examine the interaction and relationship between packaging logistics and EOT.
Design/methodology/approach
The paper set up the conceptual model with seven hypotheses from the findings of previous literatures, and this model was tested with data and SEM.
Findings
The paper provided empirical insights about the perceived impact of packaging logistics on EOT and clarified the relative impact levels in the relationship between packaging logistics and EOT.
Research limitations/implications
In spite of the chosen research approach, the perceived impact of information system on EOT may lack generalisability. Therefore, researchers are encouraged to test the proposed propositions in further studies.
Practical implications
Findings of this study can be used by practioners to improve EOT and by researchers to investigate further studies.
Originality/value
The paper fulfilled a need from previous literatures to clarify the interaction and relationship between packaging logistics and EOT.
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Byoungho Jin and Hwy‐Chang Moon
The Korean textiles and apparel‐related industry has played a major role in the country's development; however, this sector's competitiveness is decreasing due mainly to labor…
Abstract
Purpose
The Korean textiles and apparel‐related industry has played a major role in the country's development; however, this sector's competitiveness is decreasing due mainly to labor costs. As with the country's economic development, the new sources of competitive factors need to be strategically developed and cultivated. The purpose of this study is to explore what constitutes a country's competitiveness in the global apparel market after losing its labor competitiveness and how a country effectively achieves it.
Design/methodology/approach
This study employs two competitiveness models, Porter's diamond model and a generalized double diamond model, as a theoretical framework. Along with two theoretical models, this study employs extensive literature reviews, examples of successful firms, and four interviews with field practitioners in the Korean apparel industry.
Findings
Beginning with Porter four determinants (factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry), new sources of competitive advantage factors are suggested for the evolving industry. The generalized double diamond model incorporates international activities, which may occur either within a country or outside a country. Utilizing generalized double diamond model, the future directions and solutions for the industry with the identified new competitive factors were suggested.
Originality/value
Based on the models and the identification of new competitive factors, the Korean apparel industry is reviewed, and recommendations are made for its continued growth in the global marketplace. Implications pertaining to the creation of a dynamic self‐reinforcing diamond system were also suggested.
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The purpose of this paper is to examine how corruption has changed over time in South Korea and to explore how the corruption control and prevention efforts of the Korean…
Abstract
Purpose
The purpose of this paper is to examine how corruption has changed over time in South Korea and to explore how the corruption control and prevention efforts of the Korean government have been successful and failed.
Design/methodology/approach
This paper draws on institutional theory to formulate a qualitative analysis to assess the effectiveness of anti-corruption policies and measures, and to identify the strengths and weaknesses of anti-corruption reform efforts in South Korea.
Findings
This paper argues that while the Korean government has been quite successful in building anti-corruption institutions to control low-level petty corruption, it has failed to institutionalize anti-corruption institutions to curb high-level grand corruption.
Originality/value
While many studies have attempted to identify the successful factors of fighting corruption, this paper draws a theoretical distinction between institution-building vs institutionalization to examine the success and failure of corruption control and prevention efforts in South Korea.
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Md Sohel Chowdhury, H.M. Moniruzzaman, Nusrat Sharmin Lipy and Dae-seok Kang
Drawing on signaling and social identity theories, the main objective of this paper is to suggest and validate a research framework to investigate the association of corporate…
Abstract
Purpose
Drawing on signaling and social identity theories, the main objective of this paper is to suggest and validate a research framework to investigate the association of corporate social responsibility (CSR) perceptions with organizational attractiveness by uncovering the underlying mechanism of organizational trust.
Design/methodology/approach
By conducting regression analysis, the study hypotheses were tested with the data collected from a snowball convenient sample of 318 potential job seekers.
Findings
The study results revealed that prospective applicants' perceptions about a company's CSR undertakings are significantly associated with their trust in and attraction to the company. Noticeably, organizational trust partially mediated the direct relationship between CSR perceptions and organizational attractiveness.
Research limitations/implications
Based on the study results, some specific theoretical advancements and helpful insights have been highlighted for human resources (HR) practitioners in today's competing organizations. The paper ends by outlining key research drawbacks and directions for possible work in the future.
Originality/value
Despite the plausible underlying role of organizational trust in the link between CSR and organizational attraction, empirical studies of this theoretical phenomenon are still lacking in the context of pre-hire recruitment literature. This may be the first study that identifies organizational trust as a salient psychological factor through which job seekers' CSR perceptions become more instrumental in influencing their attraction to a firm.