Kang Min Ryu, Soo Hoon Park and Chang Moo Lee
People are starting to doubt business recovery in office market after global financial crisis in 2008. And most institutional and individual portfolios are undiversified in real…
Abstract
People are starting to doubt business recovery in office market after global financial crisis in 2008. And most institutional and individual portfolios are undiversified in real estate : incurring enormous transaction costs than other financial products. Especially office market has more risks than other real estate market for high transaction costs and many related industries. Although this stuff can lead to increase the risk of investment in office market, nor are there markets that would allow individuals and institutions to hedge their risks. The establishment of office price index future and option markets is likely to hedge away large risk in office market, and provides lowering transaction costs for trading in real estate. We estimate Office Price Index using S&P/Case-Shiller repeat sale estimator which is proposed by Robert. J. Shiller in 1991. The estimator is a sort of Feasible Generalized Two Stage Least Squares, which compute Value weighted Arithmetic Price Index.
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Chung‐Hoon Park and Young‐Gul Kim
While interactions in the real world shopping are mainly based on face‐to‐face activities between consumers and service personnels, interactions in electronic commerce take place…
Abstract
While interactions in the real world shopping are mainly based on face‐to‐face activities between consumers and service personnels, interactions in electronic commerce take place mainly through the retailer’s Web site. This study investigated the relationship between various characteristics of online shopping and consumer purchase behavior. Results of the online survey with 602 Korean customers of online bookstores indicate that information quality, user interface quality, and security perceptions affect information satisfaction and relational benefit, that, in turn, are significantly related to each consumer’s site commitment and actual purchase behavior.
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Amjad Hadjikhani, Joong Woo Lee and Sohee Park
The authors are witnessing the increasing extent of corporate social responsibility (CSR) performance as strategic behaviour specifically in emerging markets. The purpose of this…
Abstract
Purpose
The authors are witnessing the increasing extent of corporate social responsibility (CSR) performance as strategic behaviour specifically in emerging markets. The purpose of this paper is to investigate how multinational companies (MNCs) manage CSR activities in emerging markets to aid their core business activities. In line with this question, the paper aims to develop a theoretical view for deeper understanding of the strategy in CSR practices aiding internationalization. The view is based on a business network perspective highlighting the four concepts of learning, commitment, legitimacy and trust.
Design/methodology/approach
The methodology employed is qualitative, based on interviews with involved parties. The case study is about the experiences of a Korean MNC’s CSR strategy when entering into the Chinese electronics industry.
Findings
The case illustrates how the Korean MNC committed resources to gain trust and legitimacy that improved their market position. It further manifests that the firm’s CSR strategy was proactive because of the large commitment in several long- and short-term projects towards the society. Investment in social issues like education, environmental problems and communities aided the firm’s entry.
Research limitations/implications
The study has a qualitative and in-depth nature. Future research is needed in order to generalize the proposed theoretical frame.
Practical implications
The study manifests how a MNC employs CSR strategy for internationalization in a foreign market. It shows how managers can undertake different practical CSR measures to enter and expand in foreign markets.
Social implications
While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses.
Originality/value
While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses. The study investigates CSR strategy and enlightens activities like education and environmental problems. The study further develops the business network view and includes social aspects. The theoretical view holding the four relationship elements of trust, knowledge, legitimacy and commitment permits deeper understanding of the MNC’s proactive CSR behaviour in new markets.
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Ki Hoon Park, Bum Soo Yoon, Ngoc Trung Nguyen, Nam Seo Goo, Tae Sam Kang and Kwang Joon Yoon
The purpose of this paper is to develop lightweight actuators in order to replace conventional hydraulic/pneumatic actuators and to apply the actuation system to a small flying…
Abstract
Purpose
The purpose of this paper is to develop lightweight actuators in order to replace conventional hydraulic/pneumatic actuators and to apply the actuation system to a small flying vehicle.
Design/methodology/approach
A new type of control surface using a piezo‐composite actuator for a small flying vehicle has been designed and manufactured. The piezo‐composite actuator is composed of a piezoelectric ceramic layer, a carbon/epoxy layer and glass/epoxy layers. Through this, the miniaturization and weight reduction of the actuation systems for flying vehicle can be achieved. A simple model of the control surface has been manufactured and evaluated through experiments.
Findings
The performance test results showed that the developed actuator can produce stable angle of attack independent of the applied loading. A radio controller for the actuator was developed to control the motions wirelessly. It was found that the piezo‐composite actuator and its integrated controller system have a possibility to be used not only as a small flying vehicle but also as a control surface actuator of a small unmanned flying robot through the miniaturization of power supply and control system.
Originality/value
The paper describes the procedures of designing and manufacturing smart structure application of the piezo‐composite actuator with performance evaluation and comparison method. It is expected that piezo‐composite actuator can be used as a small flying vehicle control surface actuator through the miniaturization of power supply and control system with the use of the integrated radio controller MIPAD.
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A major concern facing multinational corporations in the 1990s ishow to prepare managers to operate effectively within another culture.Unfortunately, many corporations seldom…
Abstract
A major concern facing multinational corporations in the 1990s is how to prepare managers to operate effectively within another culture. Unfortunately, many corporations seldom provide cross‐cultural management training because it is considered unnecessary or ineffective by top management. Given such corporate mentality, a major concern facing trainers is how to develop cultural awareness and improve cultural sensitivity. Introduces a new approach for enhancing the efficacy of cross‐cultural training by extending one of the most effective psychotherapeutic counselling methods – transactional analysis – over the cross‐cultural setting. Presents conceptual framework which suggests that a crucial element of cross‐cultural training for managers must be to help them achieve an “adult ego state”, and thus ensure that they maintain the most effective cross‐cultural position – my culture′s OK, your culture′s OK. By using transactional analysis as a prerequisite to other approaches in cross‐cultural training, trainers can provide a more comprehensive programme which will not only enhance sensitivity and awareness, but ultimately lead to a greater usage of and appreciation for cross‐cultural training by organizations.
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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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Hoang Vu Phan, Quang-Tri Truong and Hoon-Cheol Park
The purpose of this paper is to demonstrate the uncontrolled vertical takeoff of an insect-mimicking flapping-wing micro air vehicle (FW-MAV) of 12.5 cm wing span with a body…
Abstract
Purpose
The purpose of this paper is to demonstrate the uncontrolled vertical takeoff of an insect-mimicking flapping-wing micro air vehicle (FW-MAV) of 12.5 cm wing span with a body weight of 7.36 g after installing batteries and power control.
Design/methodology/approach
The forces were measured using a load cell and estimated by the unsteady blade element theory (UBET), which is based on full three-dimensional wing kinematics. In addition, the mean aerodynamic force center (AC) was determined based on the UBET calculations using the measured wing kinematics.
Findings
The wing flapping frequency can reach to 43 Hz at the flapping angle of 150°. By flapping wings at a frequency of 34 Hz, the FW-MAV can produce enough thrust to over its own weight. For this condition, the difference between the estimated and average measured vertical forces was about 7.3 percent with respect to the estimated force. All parts for the FW-MAV were integrated such that the distance between the mean AC and the center of gravity is close to zero. In this manner, pitching moment generation was prevented to facilitate stable vertical takeoff. An uncontrolled takeoff test successfully demonstrated that the FW-MAV possesses initial pitching stability for takeoff.
Originality/value
This work has successfully demonstrated an insect-mimicking flapping-wing MAV that can stably takeoff with initial stability.
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The background literature survey points to the fact that the degree of corruption is a function of multiple factors of a society. Thus, it is imperative to take a more…
Abstract
The background literature survey points to the fact that the degree of corruption is a function of multiple factors of a society. Thus, it is imperative to take a more comprehensive and cross‐disciplinary approach to understand the complete picture of corruption. The research findings indicate economic freedom, socio‐political stability, tradition of law abidance and national cultures are the major variables that dictate the degree of corruption. This study expands the existing knowledge about the determinants of corruption and provides incremental information to help the policy makers fight against this cancerous social disease.
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Hoon Cheol Park, Eko Priamadi and Quang‐Tri Truong
The aim of this paper is to investigate the effect of wing kinematics change on force generation produced by flapping wings.
Abstract
Purpose
The aim of this paper is to investigate the effect of wing kinematics change on force generation produced by flapping wings.
Design/methodology/approach
Forces produced by flapping wings are measured using a load cell and compared for the investigation. The measured forces are validated by estimation using an unsteady blade element theory.
Findings
From the measurement and estimation, the authors found that flapping wings produced positive and negative lifts when the wings are attached with the +30° and −30°, respectively.
Research limitations/implications
The authors quantified the characteristics of change in the force generation by flapping wings for three wing kinematics. The wing kinematics was modified by changing the initial wing attachment angle.
Practical implications
The result may be applicable to design of control mechanism for an insect‐mimicking flapping‐wing micro air vehicle, which has only wings without control surfaces at its tail.
Social implications
The preliminary work may provide an insight for design strategy of flapping‐wing micro air vehicles with compact and handy configurations, because they may perform controlled flight even without control surfaces at their tails.
Originality/value
The work included here is the first attempt to quantify the force generation characteristics for different wing kinematics. The suggested way of wing kinematics change can provide a concept for control mechanism of a flapping‐wing micro air vehicle.