Chang Hyeon Yun and Lee Seong Gu
In this study we examine the relationships between trader-type-specific trading volumes and the price volatility of the KOSPI200 stock index futures over the period of July 1997…
Abstract
In this study we examine the relationships between trader-type-specific trading volumes and the price volatility of the KOSPI200 stock index futures over the period of July 1997 through December 2001. The principal findings of this study are that the changes in trading volumes by foreign investors are positively associated with the return and the volatility of the index futures market. When trading volumes are decomposed into expected and unexpected components, unexpected shocks have more persistent effect on the volatility of the market than expected component. Meanwhile, individuals and domestic commercial investor seem to follow the lead made by foreign investors.
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Sang-Yoon Lee, Young-Ki Kim and Seong-Tae Kim
In current business management, knowledge is considered to be a strategic resource that can strengthen an organization’s competitiveness. Today, under the process of continuous…
Abstract
In current business management, knowledge is considered to be a strategic resource that can strengthen an organization’s competitiveness. Today, under the process of continuous globalization, almost all companies are rapidly exposed to global competition regardless of their scale or type of business. However, multinational management is very complicated and uncertain and it is hard for multinationals to effectively coordinate and manage their global value chains. In light of this, the utility of multinational management based on knowledge is increased. The present study examines multinational firms’ knowledge management systems, knowledge creation processes and global supply chain performance and attempts to reveal any significant linkages between these latent variables. For this research interest, we proposed 18 items to measure four types of knowledge creation processes (SECI) designed by Nonaka (1994) and revised by authors considering the global business environment, in particular involving the global supply chain management concept. Utilizing the confirmed SECI model, 128 sample companies were classified into four groups according to the levels of their knowledge creation processes. The empirical results of this study reveal important linkages between a multinational firm’s knowledge management system and knowledge creation process, as well as between its knowledge creation process and global supply chain management performance. In particular, the current work suggests that the creation and conversion of tacit knowledge as well as explicit knowledge can be effectively supported by information and communication technology.
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Eon-seong Lee and Ho-yeol Bang
Effectively managing an intermodal logistics network has become a significant strategic consideration in international logistics. This study aims to empirically examine the way in…
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Effectively managing an intermodal logistics network has become a significant strategic consideration in international logistics. This study aims to empirically examine the way in which intermodal logistics network coordination can be successfully developed and sustained, and to analyze whether the highly coordinated intermodal logistics network may facilitate the greater logistics performance of network players as well as of the entire intermodal logistic network system. This study adopts social network embeddedness perspective to examine the determinants facilitating the higher level of coordination of the intermodal logistics network. An explorative interview method is being employed for the empirical analysis, and the results show that strong, dense and bridging ties within the network mechanisms facilitate a greater intermodal logistics network coordination. As a result, this helps to enhance the logistics performance of the intermodal logistics network system and its players by facilitating the enhancement of logistics services effectiveness and operational efficiency.
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The primary purpose of this study is to identify whether there is a price premium and consumers’ preferences for higher housing density, and whether there is a relationship…
Abstract
Purpose
The primary purpose of this study is to identify whether there is a price premium and consumers’ preferences for higher housing density, and whether there is a relationship between housing densities and sales prices. The second purpose was to identify if there is a non-linear relationship between housing density and prices even though housing density is directly associated with housing prices.
Design/methodology/approach
This paper applies hedonic modeling techniques to measure the value of development density of apartments in the metropolitan area of Seoul, South Korea. The regression of the sale price is a function of different types of variables such as density, market, location and other control variables.
Findings
For the first question, this paper concludes that the higher densities cause housing prices to decrease in Seoul. The summary of the results presents that housing density, floor area ratio (FAR), building coverage ratio and floor level are all important components affecting housing prices. Generally, consumers tend to buy housing with central heating systems, more parking spaces, smaller portion of rental housing within an apartment and buildings that have more of a mixed-use function. Consumers are also found to pay higher premiums for housing in areas with high population growth and less housing supply. It is conclusive that people are inclined to live in populated areas but do not want more density. For the second question, the results show that generally FAR has quadratic effects, but most housing density variables tend to have a non-linear relationship depending on the different quantile groups.
Originality/value
There is a knowledge gap in the area of estimating development density of apartments. Generally, studies investigating property value impacts of multifamily housing focus on external effects of the multifamily housing on home values to examine whether high density development could result in a decrease in nearby property values. These studies found that there are some positive effects. A study found that high-density housing increases property values of existing single-family homes (Joint Center for Housing Studies, 2011). More specifically, developments that are of a high design quality and superior landscaping increase values of single-family homes as well. Also, those residents who live in these high-density apartments can be good potential buyers for the existing single-family homes. The greater the number of buyers, the greater the housing market becomes. Similarly, according to a report by the Joint Center for Housing Studies (2011) at Harvard University, the presence of multifamily residents correlates with higher home values in “working communities”. Indeed, density can be an important factor determining value of apartments because of its unique characteristics. However, no empirical evidence has been provided in the literature with regard to the value of the development density. This study contributes toward improving this knowledge gap.
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Young Yoon Choi, Hun-Koo Ha and Minions Park
The maritime freight transportation industry has played an important role in the Korean economy. The Korean maritime freight transportation industry is faced with a period of…
Abstract
The maritime freight transportation industry has played an important role in the Korean economy. The Korean maritime freight transportation industry is faced with a period of transforming it competitively and efficiently in this global age. This paper, therefore, aims to identify the impact of the maritime freight transportation industry in the Korean national economy. Hence, this paper provides policy-makers with accessible and reliable information regarding the role of the Korean maritime freight transportation industry. This study employs input-output (I-O) analysis to examine the role of the maritime freight transportation industry in the national economy for the period 1995-2003, with specific application to Korea. This study pays particular attention to the maritime freight transportation industry by taking the industry as exogenous variable and then investigates its economic impacts. We identify inter-industry linkage effects in 20 sectors, production-inducing effects, added value-inducing effects, and supply-shortage effects of the maritime freight transportation industry.
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Hwa-Joong Kim, Junwoo Kim, Woosuk Yang, Kyung-Yeon Lee and Oh-Seong Kwon
This paper discusses a case of truck sharing as an application of the sharing economy. This case study examines a real mixed feed company with multiple factories. In this…
Abstract
This paper discusses a case of truck sharing as an application of the sharing economy. This case study examines a real mixed feed company with multiple factories. In this company’s operation, bulk trucks located in a factory had not previously been shared for delivery with other factories to their pre-assigned customers of stock farms. Therefore, this paper suggests a new delivery system that facilitates truck-sharing and analyzes its effects on the transport cost and trucks’ CO2 emissions. To this end, this paper develops vehicle routing models to represent the current delivery practice and the new truck-shared delivery (TSD). In addition, models are developed for a carbon control policy of an emission trading scheme (ETS) and the effects of the ETS on truck-sharing are investigated. Numerical analysis is conducted to identify the effects of the TSD and the carbon control policy and draw practical implications.
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As a typical creative behavior, creative process engagement (CPE) has received increased attention in recent years. Leadership behaviors such as leader–member exchange (LMX) and…
Abstract
Purpose
As a typical creative behavior, creative process engagement (CPE) has received increased attention in recent years. Leadership behaviors such as leader–member exchange (LMX) and leader creativity expectations (LCE) have been found as two key predictive factors of CPE. However, the mechanism underlying this relationship is not well understood. This study aims to clarify how LMX influences follower CPE by considering the interplay among LCE, decision autonomy and task interdependence from an interactionist perspective.
Design/methodology/approach
Using a sample of 371 leader–employee dyads from eight enterprises in mainland China, this study conducts a hierarchical regression analysis to test the hypotheses for the proposed model.
Findings
Results reveal that the significant two- and three-way interactions where LCE, decision autonomy and task interdependence moderate the relationship between LMX and follower CPE. The relationship between LMX and follower CPE is not significant as expected, but the moderating role of LCE is positive and significant, and the relationship is strongest when conducted with either low task interdependence or high decision autonomy.
Originality/value
Different from previous research that only investigated one certain leadership factor’ effect on employees' innovative behaviors, this study comprehensively considered the combined influence of two related but significantly different connotation leadership factors on follower CPE and found the contingency effect of LCE on the relationship between LMX and follower CPE. Furthermore, the authors found the regional effectiveness of the leadership factor. The effect of leadership factors on follower CPE varies under the influence of different job characteristics, and is conducive to enrich the interactionist view on follower CPE.
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China is currently developing and promoting an industrial cluster policy at the government level. By enacting the ‘Opinion on promoting industrial cluster development’, China is…
Abstract
China is currently developing and promoting an industrial cluster policy at the government level. By enacting the ‘Opinion on promoting industrial cluster development’, China is supporting the development of industrial clusters. Building an industrial cluster is done by using a single factor but requires many additional factors like regional characteristics, competitiveness factors are also diversified. To evaluate the competitiveness of the Chinese automobile industry cluster, a competitiveness element index should be developed and a competitiveness evaluation method is needed to evaluate the importance of each element. To accomplish this objective, this research applied the analytic hierarchy process (AHP) and focused on the importance of the competitiveness elements.
This research investigated the character is tics regarding cases of clusters and also analyzed the competitiveness of the Changchun automobile cluster located in northeastern China. The purpose of this research is to help Korean enterprises who enter China in the hopes that Korea will emerge as a top automobile production country.