Jongdae Kim, Youseok Lee and Inseong Song
The purpose of this paper is to develop a predictive model for box office performance based on the textual information in movie scripts in the green-lighting process of movie…
Abstract
Purpose
The purpose of this paper is to develop a predictive model for box office performance based on the textual information in movie scripts in the green-lighting process of movie production.
Design/methodology/approach
The authors use Latent Dirichlet Allocation to determine the hidden textual structure in movie scripts by extracting topic probabilities as predictors for classification. The extracted topic probabilities are used as inputs for the predictive model for the box office performance. For the predictive model, the authors utilize a variety of classification algorithms such as logistic classification, decision trees, random forests, k-nearest neighbor algorithms, support vector machines and artificial neural networks, and compare their relative performances in predicting movies' market performance.
Findings
This approach for extracting textual information from movie scripts produces a valuable typology for movies. Moreover, our modeling approach has significant power to predict movie scripts' profitability. It provides a superior prediction performance compared to previous benchmarks, such as that of Eliashberg et al. (2007).
Research limitations/implications
This work contributes to literature on predicting the box office performance in the green-lighting process and literature regarding suggesting models for the idea screening stage in the new product development process. Besides, this is one of the few studies that use movie script data to predict movies' financial performance by proposing an approach to integrate text mining models and machine learning algorithms with movie experts' intuition.
Practical implications
First, the authors’ approach can significantly reduce the financial risk associated with movie production decisions before the pre-production stage. Second, this paper proposes an approach that is applicable at a very early stage of new product development, such as the idea screening stage. The authors also introduce an online-based movie scenario database system that can help movie studios make more systematic and profitable decisions in the green-lighting process. Third, this approach can help movie studios estimate movie scripts' financial value.
Originality/value
This study is one of the few studies to forecast market performance in the green-lighting process.
Details
Keywords
Wenqing Li, Nathan Petek and Hassan Faghani
When products are differentiated, applying the standard critical loss formula to assess whether it is profitable for a hypothetical monopolist to impose a common price increase…
Abstract
When products are differentiated, applying the standard critical loss formula to assess whether it is profitable for a hypothetical monopolist to impose a common price increase can lead to delineating an antitrust market that is too broad by setting a critical loss threshold that is too low. This error is particularly likely to occur when the products exhibit very different per-unit profits, own price elasticities, and cross price elasticities. In particular, different per-unit profits are a necessary condition for this error to occur and this difference is more likely to be driven by an asymmetry in prices than by an asymmetry in costs when own price elasticities are moderate in magnitude. In contrast, differences in the quantity sold of each product do not tend to lead to errors in market definition. Given the issues associated with the standard critical loss analysis, critical loss analysis with asymmetric price increases and the gross upward pricing pressure index are practical alternative approaches for conducting market definition analysis when products in a candidate market are differentiated.
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Mijeong Kim, Inseong Jeong and Johngseok Bae
Research has suggested that employees interpret high-performance work systems (HPWSs) as targeting two distinct organizational objectives: enhancing performance and promoting…
Abstract
Purpose
Research has suggested that employees interpret high-performance work systems (HPWSs) as targeting two distinct organizational objectives: enhancing performance and promoting employee well-being. These attributions often exert divergent effects on employee attitudes. Thus, this study aims to investigate this dynamic within the context of the Korean nursing occupation, clarifying how the HPWS can simultaneously evoke dual attributions: human resource (HR) well-being and HR performance attributions. Additionally, the authors examine the contrasting effects of these attributions and identify a moderating variable that could reconcile them. Drawing on the psychological experience of status theory, the authors conceptualize and test the moderating effect of employees' self-perceived status on the relationship between HR performance attribution and affective commitment.
Design/methodology/approach
Data were collected from 475 nurses in 82 work units in Korean hospitals. Hypotheses were tested in a multilevel moderated mediation model.
Findings
The findings revealed that an HPWS elicits HR well-being and HR performance attributions. While HR well-being attribution was positively associated with affective commitment, HR performance attribution was positively related to affective commitment when employees' self-perceived status was high. Moreover, the HPWS demonstrated an indirect relationship with affective commitment via increasing HR performance attribution when self-perceived status was high.
Originality/value
Although the personal meaning of HR attributions differs depending on the perceiver’s situation, this aspect has received little attention in the field of research. This study advances the understanding of HR attributions derived from the HPWS within the specific context of Korean nursing. Furthermore, the authors suggest that the two attributions may not conflict with each other, indicating that the impact of HR performance attribution is conditional on an individual’s self-perceived status.