This article investigates the effect of the performance evaluation period on the long-term investment portfolio choice and the agency problem of outsourced investments. Though…
Abstract
This article investigates the effect of the performance evaluation period on the long-term investment portfolio choice and the agency problem of outsourced investments. Though investors with the prospect utility are required to raise the portfolio weight on risky assets such as stocks for a long investment horizon, institutional investors and professional fund managers cannot help lowering the portfolio weight on risky assets to minimize the loss and to avoid disappointing clients with a short evaluation period. We find empirical evidence in the Korean capital market that stocks and bonds are indifferent to investors with the prospect utility for an evaluation period with 16 months and the optimal portfolio weight of stocks and bonds is 30% to 70%. Therefore there exists the agency problem between investors (principal) and managers (agent) due to frequent performance evaluations, which is able to explain current excessive investment in fixed income markets of most national pension funds. Our result implies that we need to consider extending the evaluation period of the investment performance to achieve the goal of asset and liability management (ALM) of national long-term funds in this low-interest-rate environment.
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Ho Jun Song, Nina Shin, Hyun Mo Koo and Wan Seon Shin
This research deals with the critical factors of quality and their significance to perceived security as an effort to build a formidable loyalty of customers in a technology…
Abstract
Purpose
This research deals with the critical factors of quality and their significance to perceived security as an effort to build a formidable loyalty of customers in a technology driven service environment. The primary purpose of this study is to investigate the key contributing elements of functional and service quality on perceived security and to further analyze its impact on customer satisfaction and loyalty.
Design/methodology/approach
A hypothesized structure model is proposed and justified using the data collected in the manufacturing and telecommunication service sectors in South Korea through survey with total 647 respondents. To clarify the reliability of model and validity of the proposed hypothesis, AMOS 24.0 software was utilized. Furthermore, two moderating variables were adopted for the depth understanding.
Findings
This study reveals that service quality dominantly influences the level of perceived security due to its characteristics that are mostly formed on the stage of customer-contact activity. This study further provides a strategic methodology for manufacturing and telecommunication firms to foster sustainable growth by focusing on perceived security during the service delivery process.
Originality/value
This finding is particularly important as Ontact technology becomes increasingly critical during the COVID-19 pandemic. It is worthwhile noting that the research outcome of this study may, in turn, trigger the trust issue that need to be combined with quality in the era of Industry 4.0.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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Hana Kim, Daeho Lee and Jun-Seok Hwang
Even though network externality plays an important role in users’ motivations to use services or products, the implications of this are not clear because previous studies did not…
Abstract
Purpose
Even though network externality plays an important role in users’ motivations to use services or products, the implications of this are not clear because previous studies did not distinguish between the number of peers and the number of total users. Thus, the purpose of this paper is to demonstrate that there is a difference between the two network externalities, i.e., the number of peers and the total number of users. To accomplish this, the perception of quality of life is considered to have an impact on the effects of the two different network externalities.
Design/methodology/approach
Data were collected from a survey that covered 508 online game players in South Korea, and the two hypotheses of “player experience of need satisfaction” from self-determination theory as well as user gratification theory (UGT) were assessed using structural equation modeling.
Findings
The results indicate that people consider the total number of users and the number of peers differently. In addition, the effects of the total number of users and the number of peers vary according to respondents’ perceived life quality in four dimensions: loneliness, happiness, satisfaction with life (SWL), and escapism. In particular, people’s offline tendencies are reflected online in terms of loneliness, whereas online life compensates for a lack of enjoyment offline.
Originality/value
The authors verify that UGT can affect the network externality by considering perceived quality of life (loneliness, SWL, happiness, and escapism) as a moderating effect.
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The purpose of this paper is to identify the factors affecting user acceptance for NFC mobile wallets in both Korean and US markets.
Abstract
Purpose
The purpose of this paper is to identify the factors affecting user acceptance for NFC mobile wallets in both Korean and US markets.
Design/methodology/approach
The proposed model extends the UTAUT2 model with new constructs of credibility (CR) and service smartness (SS). This study was analyzed using partial least square structural equation modeling on data collected from 701 college students between the ages of 18 and 29.
Findings
The results of this study demonstrate that performance expectancy (PE), effort expectancy (EE), CR, SS and habit (HB) have strong positive relationships with a user’s behavioral intention to use NFC mobile wallets. Comparing the results of the USA and South Korea, there are different results regarding PE and CR.
Research limitations/implications
This study shows that all factors except social influence (SI) have significant positive relationships with the intention to adopt NFC mobile wallets: Among the original UTUAT2 factors, PE, EE and HB are important determinants of NFC mobile wallet adoption and the new constructs, CR and SS, are significant determinants that influence BI. However, the target respondents are limited to college students of South Korea and the USA Thus, caution should be used when applying the results of this study towards less ICT developed countries and towards different age groups.
Practical implications
This study provides multiple practical contributions. First, this study emphasizes HB as the strongest factor for adopting NFC mobile wallets in both South Korea and the USA Second, this study also highlights the importance of SS. Third, this study reveals that SI is not associated with the adoption of NFC mobile wallets. Fourth, nationality differences between the USA and South Korea account for the differences in consumer behaviors.
Originality/value
This study has two main contributions: First, this study introduces a modified UTAUT2 model with two new variables (CR and SS) useful for NFC mobile wallets. Second, this study compares the results of partial least square structured equation models (PLS-SEM) of the two nationality groups, South Korea and the USA
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Won-Moo Hur, Tae-Won Moon and Jun-Ho Lee
This study aimed to examine the effect of self-efficacy on job performance through creativity. We predicted that exposure to customer incivility and rigid service scripts will…
Abstract
Purpose
This study aimed to examine the effect of self-efficacy on job performance through creativity. We predicted that exposure to customer incivility and rigid service scripts will moderate the mediating effect of creativity on the relationship between self-efficacy and job performance.
Design/methodology/approach
Survey data were collected from 397 salespersons who were working in a department store in South Korea. The PROCESS macro was used to test the study hypotheses.
Findings
The results revealed that the positive relationship between self-efficacy and job performance was partially mediated by creativity. Furthermore, exposure to customer incivility and rigid service scripts weakened the positive effects of self-efficacy on creativity. Finally, customer incivility and rigid service scripts also dampened the positive effects of self-efficacy on job performance through creativity.
Research limitations/implications
Sales organizations should understand that the extent to which self-efficacy improves job performance by enhancing creativity is contingent on the extent to which salespersons are exposed to customer incivility and are required to adhere to rigid service scripts in the workplace.
Originality/value
Our findings paint a more complete portrait of the beneficial effects of self-efficacy. Specifically, they suggest that the development of creativity is an important mechanism that underlies the process by which internal resources enhance job performance and that customer incivility and service scripts weaken this relationship.
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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.
Deepak Chawla and Himanshu Joshi
The purpose of this paper is to empirically examine the factors that influence a consumer’s attitude and intention to use mobile wallets using a sample representative of Indian…
Abstract
Purpose
The purpose of this paper is to empirically examine the factors that influence a consumer’s attitude and intention to use mobile wallets using a sample representative of Indian users.
Design/methodology/approach
A multidisciplinary model is proposed, building on the technology acceptance model (TAM) and unified theory of acceptance and use of technology (UTAUT) and other relevant research on factors, which influence technology adoption. A synthesis of review of literature on factors influencing technology adoption besides two focus group discussions (FGD) was used as a design a pilot instrument. A nationwide primary survey was conducted using the questionnaire. Convenience sampling was used to select the respondents. In total, 744 respondents participated in the survey, and 17 hypotheses were formulated and PLS-SEM was used to estimate and test the hypothesized model.
Findings
The results show that factors like perceived ease of use (PEOU), perceived usefulness (PU), trust, security, facilitating conditions and lifestyle compatibility have a significant impact on the consumer attitude and intention to use mobile wallets. Of the proposed 17 hypotheses, 15 were accepted. Ease of use significantly influenced usefulness and trust, whereas PU significantly influenced trust, attitude and intention. Security and trust were found to be play an important role in determining trust.
Research limitations/implications
This study examines the perception of students and working professional from large Indian cities. A larger representative sample encompassing balanced representation from urban and rural India could enhance the scope and widen the application of the results across larger target groups. This study analyzes data at a specific point in time. Considering the rapidly changing rate of adoption of mobile wallets, a longitudinal study could, therefore, be conducted. Furthermore, the possibility of including other antecedents like relative advantage, perceived benefits, personal innovativeness among other factors, which have not been addressed here can be explored. Also, additional research can help examine the role of demographics in adoption of mobile wallets including its moderating effect.
Practical implications
As security and trust emerged as important constructs for acceptance of mobile wallets, there is a need for developing an integrated robust, reliable and secure infrastructure. A joint think tank involving key stakeholders (financial institutions, mobile wallet providers, government, security experts, etc.) should propose guidelines to ensure safe and secure transactions. The findings have managerial implications, which can guide companies offering mobile wallets to enhance usage and adoption of such services.
Originality/value
Mobile wallets have provided newer digital payment avenues to consumers while offering companies and marketers greater opportunities to market their products and services, online. However, not much is reported about the adoption of mobile wallets in India. The study is perhaps the first in India to examine the adoption of mobile wallets using a larger sample in comparison to earlier studies. The study proposes and validates additional constructs, which were not present in the original model.
Woo-Suk Jun, Ho-Taek Yi and Fortune Edem Amenuvor
This study aims to examine the effect of marketing agility of startup companies on their new product creativity and new product performance while examining the moderating role of…
Abstract
Purpose
This study aims to examine the effect of marketing agility of startup companies on their new product creativity and new product performance while examining the moderating role of technological turbulence.
Design/methodology/approach
Data were collected from 319 South Korean startups and empirically analyzed using structural equations modeling technique.
Findings
First, marketing agility is a potent catalyst that positively influences the novelty and meaningfulness of new products, thereby enhancing new product creativity. Second, marketing agility contributes significantly to new product performance across multiple dimensions, including market, financial, and customer performances. Third, this study underscores the pivotal role of new product creativity, with both novelty and meaningfulness proving to be key drivers of improved new product performance. Technological turbulence is revealed as a moderating force, amplifying the positive relationship between new product novelty and performance. However, while it substantiates some moderating effects, the study does not find significant support for the role of technological turbulence in moderating the relationships among new product meaningfulness, marketing agility, and new product performance.
Originality/value
To the best of our knowledge, this study is the first to analyze the effect of startups’ marketing agility on new product creativity and performance considering the moderating effect of technological turbulence, especially in the South Korean context. This study offers practical insights emphasizing the indispensability of marketing agility for startups operating in rapidly evolving markets. Additionally, it advocates a strategic emphasis on novelty in high-tech turbulence scenarios to bolster new product performance.
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Heung-Jun Jung, Yoon-Ho Kim and Heesang Yoon
Using two nationally representative data sets, we examine the wages, benefits, and social insurance of contingent workers compared with standard employees in South Korea. In…
Abstract
Using two nationally representative data sets, we examine the wages, benefits, and social insurance of contingent workers compared with standard employees in South Korea. In addition, we measure employers’ investments in their contingent workforce. Our results indicate that contingent workers have become the dominant form of labor in South Korea after the 1998 Asian financial crisis and are faced with working conditions that are discriminative compared with those of standard employees. We also find that employers’ investments in contingent workers as human resources, as well as the upward mobility of contingent workers, are limited in the Korean labor market. Overall, our findings provide a comprehensive understanding of the working poor, including the social exclusion of contingent workers in an advanced developing economy.