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The purpose of this paper is to examine the price discovery role of the Korea Composite Stock Price Index 200 (KOSPI 200) stock index options market in contrast to other developed options markets.

The price discovery roles of the stock and options markets using the error‐correction model derived from the co‐integration relationship are examined. Various analyses are conducted. First, Heston's stochastic volatility option pricing model is employed to confirm its usefulness, and compare the results with the Black and Scholes (BS) model. Second, whether the out of the money (OTM) options purchased by individual investors have a stronger price discovery role than options with other moneyness is examined. Finally, whether options have a stronger price discovery role in bullish or bearish markets than in normal markets is tested.

It is found that stock index prices lead implied index prices estimated from option prices using both BS and Heston models. In regards to the OTM options, the lead‐effect of real stock index to implied index prices holds. Also it is shown that there is a weak rise in the lead effect of the options to the stock index, but the lead effect of stock index market rules over that of the options market.

The paper examines the price discovery role of the KOSPI 200 stock index options market in contrast to other developed options markets and the results indicate that the consensus on the Korean financial markets may be incorrect.

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.

Why employees stay or leave their organization in Republic of Korea (South Korea) can be better understood by taking into account the idiosyncratic institutional and cultural contexts. In this chapter, we aim to provide a comprehensive review of employee turnover research in South Korea and discuss its implications for research. Specifically, we explain how employee turnover decisions may be affected by the characteristics of South Korean labor market (duality, polarization, and intergenerational issues) and cultural environments (collectivism, high power distance, and high-performance orientation). The review shows that organizational commitment, job satisfaction, and on-the-job embeddedness are three key mechanisms explaining employee turnover in South Korea. Building upon the review, we conclude the review by suggesting future research directions: (a) examining turnover behavior as a key outcome, (b) developing a theoretical framework for social identity and embeddedness, and (c) understanding intergenerational issues.

Discusses the 6th ITCRR, its breadth of textile and clothing research activity, plus the encouragement given to workers in this field and its related areas. States that, within the newer research areas under the microscope of the community involved, technical textiles focuses on new, ‘smart’ garments and the initiatives in this field in both the UK and the international community at large. Covers this subject at length.

This paper addresses materials and processes for printed wiring board compatible embedded capacitors using polymer/ceramic nanocomposites and hydrothermal barium titanate. Polymers allow low temperature fabrication appropriate to the board (MCM‐L) technology. The lower dielectric constants of the commercially available polymers can be greatly compensated by incorporating higher permittivity ceramic fillers. Materials requirements for higher capacitance density (>30 nF/cm²) have been addressed through implementation of a novel low‐temperature processable hydrothermal barium titanate film on a patterned titanium foil laminated to the PWB. Application of hydrothermal grown barium titanate is currently being evaluated using a multi‐layer system‐on‐package demonstration.

The purpose of this paper is to examine how the risk of war aroused by North Korea’s threatening actions trigger strategic responses from US multinational enterprises (MNEs) operating in South Korea. The authors compare two competing perspectives of real options and risk diversification to see which prevails when US MNEs are facing risk of war.

The authors hand collected news articles regarding North Korea’s threatening actions that may trigger strategic responses from MNEs operating in South Korea. The authors use archival data of US MNEs to verify our results.

Empirical tests of the two competing perspectives reveal that US MNEs adopt the risk diversification strategy when threatened by the risk of war. However, as MNEs have more available foreign markets outside the host country that is at risk of war, MNEs tend to take an operational flexibility approach more seriously and shift their productions to the remaining global operations. The ownership structure of the subsidiary does not appear to have significant effect on US MNEs’ strategic risk management.

This paper compares two perspectives, namely, real options and risk diversification, to observe how US MNEs treat their subsidiaries when facing risk of war in South Korea.

After the Korean War, South Korean politics was dominated by national security concerns. Reversing Carl von Clausewitz's well-known dictum, in South Korea, “politics is the continuation of war by other means.” Until the late 1980s, politics in South Korea was far from democratic. South Korea had five direct presidential elections (1987, 1992, 1997, 2002, and 2007) and six national assembly elections (1988, 1992, 1996, 2000, 2004, and 2008) after the democratic transition of 1987. In 1992, a civilian candidate, Young Sam Kim, was elected president. Young Sam Kim (1993–1998) prosecuted and punished former generals turned presidents Doo Hwan Chun (1980–1988) and Tae Woo Roh (1988–1993) for corruption, mutiny and treason in 1995. Dae Jung Kim (1998–2003) was elected president in 1997. For the first time in South Korean political history, regime change occurred between a ruling party and an opposition party.

In this chapter, the change and continuity of civil–military relations through the fluctuating dynamics of the democratic transition and consolidation in South Korea is examined. A positive consolidation of democratic reform is one that, while securing indisputable civilian supremacy, grants the military enough institutional autonomy for the efficient pursuit of its mission. Civilian supremacy should be institutionalized not only by preventing military intervention in civilian politics but also by ensuring civilian control over the formation and implementation of national defense policy.

In sum, despite three terms of civilian presidency, civilian supremacy has not yet fully institutionalized. Although significant changes in civil-military relations did occur after the democratic transition, they were not initiated by elected leaders with the intention of establishing a firm institutional footing for civilian supremacy. South Korea's political leaders have not crafted durable regulations and institutions that will sustain civilian control over the military.

More than six decades, Korea is still divided. The most highly militarized zone in the world lies along the demilitarized zone. How to draw the line prudently between seeking national security and promoting democracy shall be the most delicate task facing all the civilian regimes to come in South Korea. That mission will remain challenging not only for civilian politicians but also for military leaders.

The sustainable fashion (SF) literature is fragmented across the management discipline, leaving the path to a SF future unclear. As of yet, there has not been an attempt to bring these insights together or to more generally explore the question of “what is known about SF in the management literature and where could the SF field go from there?”. The purpose of this paper is to bring together the field to identify opportunities for societal impact and further research.

A systematic literature review was conducted from the first appearances of SF in the management literature in 2000 up to papers published in June 2019, which resulted in 465 included papers.

The results illustrate that SF research is largely defined by two approaches, namely, pragmatic change and radical change. The findings reveal seven research streams that span across the discipline to explore how organisational and consumer habits can be shaped for the future.

What is known about SF is constantly evolving, therefore, the paper aims to provide a representative sample of the state of SF in management literature to date.

This review provides decision makers with insights that have been synthesised from across the management field.

This review identifies knowledge gaps and informs managerial decision making in the field, particularly through serving as a foundation for further research.

By applying the American Customer Satisfaction Index (ACSI) model to virtual art exhibitions, this research aims to reveal insights into the factors impacting visitor satisfaction and electronic word-of-mouth (e-WOM). Furthermore, the investigation of exhibition promotion seeks to understand how external factors contribute to the overall visitor experience in virtual art exhibitions.

With advancements in virtual communication technology and the transformative impact of the COVID-19 pandemic in recent years, there has been a notable surge in the popularity of virtual art exhibitions based on the Internet. This study uses the ACSI model to examine visitor satisfaction and e-WOM in virtual art exhibitions. Additionally, it explores the influence of exhibition promotion on the ACSI model.

Key findings revealed that 1) both promotion efforts and e-WOM exhibited significant relationships with the ACSI model, and 2) most of the relationships within the ACSI model were consistent with previous research outcomes.

This study extends the ACSI model’s application to virtual art exhibitions, enhancing its relevance. Additionally, it addresses the knowledge gap concerning the direct impact of promotion on audience expectations and its relationship with the ACSI model in virtual art exhibitions. Furthermore, the research explores the influence of customer satisfaction on electronic word-of-mouth in exhibitions, offering valuable insights for exhibition evaluation systems. The study serves as a guide, providing data and models for researchers investigating virtual art exhibitions.

The purpose is to design a system in which drones can control traffic most effectively using a deep learning algorithm.

Drones have now started entry into each facet of life. The entry of drones has made them a subject of great relevance in the present technological era. The span of drones is, however, very broad due to various kinds of usages leading to different types of drones. Out of the many usages, one usage which is presently being widely researched is traffic monitoring as traffic monitoring can hover over a particular area. This paper specifically brings out the basic algorithm You Look Only Once (YOLO) which may be used for identifying the vehicles. Consequently, using deep learning YOLO algorithm, identification of vehicles will, therefore, help in easy regulation of traffic in streetlights, avoiding accidents, finding out the culprit drivers due to which traffic jam would have taken place and recognition of a pattern of traffic at various timings of the day, thereby announcing the same through radio (namely, Frequency Modulation (FM)) channels, so that people can take the route which is the least jammed.

The study found that the object(s) detected by the deep learning algorithm is almost the same as if seen from a naked eye from the top view. This led to the conclusion that the drones may be used for traffic monitoring, in the days to come, which was not the case earlier.

The main research content and key algorithm have been introduced. The research is original. None of the parts of this research paper has been published anywhere.