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Because mutual funds are the largest equity holders and because the retirement assets that are managed by mutual funds have been growing, mutual fund managers may have more incentives to support management in order to attract and retain pension business. I explore whether pension business ties have an impact on voting behaviors of mutual funds by examining the link pension business ties between mutual funds and the firms to actual mutual fund voting outcomes. At the fund family level, I find a positive relation between pension ties and mutual funds’ voting support for management. This relation becomes stronger when there is a voting divergence among funds within the same families. At the individual fund level, I find that individual funds are more likely to vote with management if they are included as one of the investment options of the pension plan of their portfolio firms. This suggests that the SEC should at least consider the recent petition from the AFL-CIO proposing that the SEC require mutual funds to disclose business ties with the firms in which they invest.

This study examines the impact of private equity fund managers' (GPs') ESG disclosure on fundraising. To this end, a sample of global private equity and venture capital funds that completed fundraising between 2020 and 2022 is employed. Our findings indicate that an increase in ESG disclosure by GPs is associated with an increase in fundraising. This indicates that GPs' ESG disclosure diminishes information asymmetry and has a favorable impact on fundraising. Conversely, the level of ESG disclosure among limited partners (LPs) has no significant impact on the relationship between GPs' ESG disclosure level and fundraising. The findings of this study have significant implications for private equity stakeholders, including GPs, given the current context of declining investment demand due to rising interest rates, recessionary concerns, poor performance and tighter regulations on private equity management. In this environment, ESG disclosure is becoming increasingly challenging for private equity firms to utilize as a fundraising strategy.

This study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.

Using panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors.

The authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems.

This study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.

Although the use of online authentication systems in banking services is expanding globally, little is known about cultural differences in forming consumers' responses to these services. This paper examines how the usability of an online security service and culture impact consumers' behaviour.

The authors conduct a 2 (usability: high vs low) × 2 (culture: US vs Korea) between-subjects, full factorial design.

The results indicate a differential influence of the usability of a security system by culture. In particular, US consumers exhibit greater behavioural intention in a high (vs low) usability condition, whereas Korean consumers showed more favourable responses in a low-usability condition. Moreover, perceived effort is confirmed as a crucial mediator that explains the psychological mechanism of the proposed effect.

This research contributes to the literature on online banking where security is an important determinant of success. Especially for managers involved in international banking services, the findings of cultural differences offer insights about the importance of local understanding and differentiation of bank services for specific target markets which can enhance consumers' response towards an online security service.

The current study is one of a very few attempts to examine the role of usability of an online security system in forming consumers' behavioural intention. More importantly, this study integrates the concept of culture to explain how usability influences positive or negative behavioural intention in an international market.

The public health sector in South Korea introduced district health information systems (DHIS) in health centres in the early 1990s. DHIS aimed to help health centres to provide comprehensive health care services and to achieve effective and efficient management of their works. District health information systems are still being implemented in health centres. Information generated and collected through the systems is to be used by local authorities to plan and manage health services in their areas, and further by the central government to make a health plan and health policy at the national level. However, the adoption and implementation of DHIS by health centres does not meet the initial anticipation. Moreover, reasons for that have not been explored yet. This paper presents the development of DHIS for health centres in Korea, evaluates the project focusing on impacts and problems found in implementing the systems, and provides lessons and recommendations for establishing a nationwide health information network.

The new focus of brand communication in social media has driven firms to develop the effective visual content strategy. In light of narrative transportation theory, this study aims to investigate the impact of a photo’s narrative elements on self-brand connection through viewers’ transportation and emotional responses. Additionally, this study tests the role of telepresence on Instagram in this psychological mechanism.

Using between-subjects experimental design, two experimental studies test the effect of implied movement (Study 1) and diverse narrative elements such as a character, implied motion for chronology and the relevant background (Study 2).

Results demonstrate that a single narrative element, i.e. implied motion, does not induce a viewer’s transportation to the presented image. Rather, the viewer’s transportation occurs as a function of complex and diverse narrative elements, such as implied motion and the background as a context.

Findings suggest that the concept of photo narrative should be taken into consideration in a visually-oriented social media environment. To increase self-brand connection, social media communication should be designed with diverse elements to promote viewers’ active simulation and create meaning to the branded photo story.

This study expands the theory of narrative transportation by applying it to a visual form. Additionally, this research investigates the effect of social media communication on self-brand connection; the findings of this study demonstrate that a major goal of social media communication is not to sell products but to strengthen consumer-brand relationships through branded storytelling.

This study aims to identify key motivation factors for consumers’ social search and examine the role of flow in the process. This study assessed how content quality (i.e. visual aesthetics, textual information and timeliness) and system quality (i.e., intuitiveness and interactivity) influence flow experience. Additionally, this study tested how mental simulation and ease of task mediate this process and examined how the flow experience leads to purchase intention.

An online survey via Amazon MTurk was performed using the general consumer population in the USA. Structural equation modeling (SEM) was conducted to test proposed hypotheses.

Visual aesthetics, text information, intuitiveness and interactivity were found to increase consumers’ flow experience in social search on Instagram. The timeliness of information was not a significant predictor of flow experience. Additional analyses demonstrated the mediating role of mental simulation and perceived ease of task mediate in flow experience, ultimately leading to increased purchase intention.

The concept of flow should be taken into consideration in a setting of social media marketing. To create holistic consumption experiences, social media strategy should promote seamless information search by increasing both the content (i.e. visual aesthetics and text information) and system (i.e. intuitiveness and interactivity) quality.

This study expands the theory of flow by applying it to the social search process in social media. Mental simulation and perceived ease of task are distinctively recognized as essential factors for flow experience on Instagram.

This study aims to investigate the effects of two visual design principles, repetition and compositional lines, in a food image on purchase intention in the context of a mobile food delivery app and test the effect of crossmodal correspondences between vision and taste as a processing mechanism.

In this study, two experiments were conducted using burgers and iced tea as stimuli.

The results demonstrate that repetition of an identical food product increases visual appeal for both burgers and iced tea. However, the optimal level of repetition was different between the two products. The findings show that different compositional lines generate different levels of visual appeal and the effects of compositional lines vary between burgers and iced tea. The results also validate the serial mediation effects of vision and taste between design principles and purchase intention.

The findings of this study add substantially to the understanding of visual information processing in food retailing by demonstrating how design principles such as repetition and compositional lines facilitate crossmodal responses between vision and taste and influence purchase decisions in a mobile platform. Also this study provides guidance as to how food retailers use design principles (e.g. repetition and compositional lines) for different products effectively when the food retailers develop visual digital content for a mobile app.

This study aims to investigate determinants of satisfaction and loyalty decisions in the use of mobile services.

A research model was designed to identify multi‐dimensions of mobile service quality and perceived value, and investigate their influences on satisfaction and loyalty. Structural equation modeling was employed to test hypotheses.

Statistical analysis identified five distinct dimensions of mobile service quality, and their direct and indirect effects on economic value, emotional value on loyalty intention through satisfaction. Two dimensions of perceived value (i.e. economic value, emotional value) had significant influences on customer satisfaction, and then, on loyalty intention. Also, the results show interrelationship between economic and emotional value.

In particular, each dimension of mobile service quality appeared to have different effects on perceived economic value, emotional value, and the level of satisfaction. Accordingly, mobile service managers are recommended to develop strategic promotion efforts based on targeted consumers' needs and marketing goals.

This study aims to investigate how new CEOs’ previous experiences in other organizations and other industries create value in acquisitions. Drawing on the upper echelon perspective, this study theorizes that the multiorganizational experience of new CEOs is positively associated with acquisition performance and, in particular, that the multi-industry experience of new CEOs leads to better performance in diversifying acquisitions than in related acquisitions. While new CEOs without multiorganizational experience undergo a cognitive entrenchment in firm-specific experience, new CEOs with multiorganizational experience can lead acquisitions with more flexibility and agility.

Acquisition and organizational data were drawn from the US manufacturing industries (SIC 20-39) between 2008 and 2010. The event study method was used to test hypotheses. In 346 acquisitions made by 139 firms, acquisition performance was measured according to cumulative abnormal returns.

Consistent with the hypotheses, the multiorganizational experience of new CEOs was positively associated with acquisition performance and, in particular, the multi-industry experience of new CEOs led to better performance in diversifying acquisitions than in related acquisitions.

This paper contributes to the CEO literature and acquisition literature by suggesting that the multiorganizational experience of new CEOs can be a valuable source of competitive advantages, particularly when implementing corporate strategies involving interorganizational integration processes.