Sang Ik Seok, Tae Hyun Kim, Hoon Cho and Tae Joong Kim
This paper examines the effect of fund manager replacement on investment performances of mutual funds. In managerial labor market of mutual fund industries with information…
Abstract
This paper examines the effect of fund manager replacement on investment performances of mutual funds. In managerial labor market of mutual fund industries with information asymmetry about the type and action of a fund manager, separating compensation may not be achievable due to imperfect evaluation of performances of fund managers. This paper extends contract theory to model the situations where a mutual fund offers pooling compensation contract to a fund manager based on his reputation. Under these environments, the fund manager has an economic incentive to acquire private benefit by manipulating performances and then to turn over to other mutual fund. Fund manager’s replacement is an aspect of adverse selection in the managerial labor market of fund industries. That is, a fund manager with low ability can select and manipulate unsuccessful investment portfolio generating loss to fund while he turns over to hide himself in the reputation under pooling contract mechanism. The empirical analysis of this paper provides the significant evidence that, differently from those of mutual funds of which managers stay in the same mutual funds, the fund performances drop after the fund managers turn over to other mutual funds. These empirical evidences support the theoretical prediction that the fund managers have incentive to manipulate short-term performances to maintain reputation for acquiring favorable compensation contracts.
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Seeun Kim, Tae Hyun Baek, Youn-Kyung Kim and Kyunga Yoo
The purpose of this study is to investigate user perceptions of mobile app characteristics and interrelationships among identified mobile app characteristics, perceived benefits…
Abstract
Purpose
The purpose of this study is to investigate user perceptions of mobile app characteristics and interrelationships among identified mobile app characteristics, perceived benefits and post-adoption behaviors.
Design/methodology/approach
Using a self-administered online survey (n = 503) drawn from a consumer panel of US smartphone users, this study tests the proposed model that explains why stickiness and word of mouth (WOM) are enhanced during the post-adoption stage.
Findings
The results indicate that user perceptions of mobile app characteristics, perceived ubiquity, perceived informativeness and perceived personalization are positively associated with mobile app usefulness, thereby leading to increased stickiness and positive WOM intentions. Furthermore, perceived personalization is found to become the strongest predictor of usefulness and playful engagement with the mobile app.
Research limitations/implications
The findings are derived from a one-shot correlational study. There is no guarantee that the proposed model establishes causal directions among the latent constructs. Therefore, future research should test the conceptual model in an experimental setting by manipulating the degree and types of ubiquity, informativeness and personalization.
Practical implications
The findings of this research provide managerial guidelines for developing effective mobile app strategies involving utilitarian and hedonic benefits, thereby enhancing user stickiness and WOM intentions.
Originality/value
This paper is the first attempt to develop a conceptual framework that integrates user perceptions of mobile app characteristics into the underlying process of post-adoption behaviors. It empirically demonstrates the importance of ubiquity, informativeness and personalization in building and sustaining loyal relationships with mobile app users.
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Tae-Ho Lee, Jung Ung Min and Jung-Soo Park
The main streams of the supply chain are defined as material, information and financial flow. There have been many studies and practical cases regarding the flow of material and…
Abstract
The main streams of the supply chain are defined as material, information and financial flow. There have been many studies and practical cases regarding the flow of material and information including information sharing. However, financial flow related studies have not been widely examined relatively, compared with their importance.
The information sharing is recognized as the method that can reduce the Bullwhip effect in supply chain management. The author intends to analyze the impact of financial information sharing on the results of the supply chain.
In the point of supply chain risk management view, the author examined the impact of financial flow among the various factors that can impede the stability of the supply chain.
In this study, the author embodied the simulation regarding the impact of financial information flow on supply chain performance and stability based on the system dynamics methodology and analyzed the performance.
Assuming the supply chain, composed of supplying company, manufacturing company and sales company , the author embodied the simulation model and assumed that working capital and cash information sharing were achieved. The author embodied the model to affect the settlement conditions according to the results of financial information sharing.
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Tae‐Yeol Kim, Chongwei Wang, Mari Kondo and Tae‐Hyun Kim
The purpose of this paper is to examine how the Chinese, Japanese, and Koreans resolve an interpersonal conflict with their supervisors and how cultural factors explain the…
Abstract
Purpose
The purpose of this paper is to examine how the Chinese, Japanese, and Koreans resolve an interpersonal conflict with their supervisors and how cultural factors explain the differences in conflict management styles.
Design/methodology/approach
A survey was conducted involving 275 employees from China, Japan and South Korea. A hierarchical regression analysis and A‐matrix hypothesis test were used to analyze the data.
Findings
Koreans, compared with the Chinese and Japanese, were more likely to use a compromise style. In addition, the Japanese, compared with the Chinese and Koreans, were less likely to dominate and were more likely to oblige their supervisors. The country differences in obliging and dominating styles were partially explained by goal emphasis (self vs collective) and concern for the self, respectively.
Research limitations/implications
While limited to recalling specific incidents and self‐reported responses, there is evidence that East Asians differ from each other in resolving their interpersonal conflicts with supervisors. Future research needs to examine East Asian differences in resolving an interpersonal conflict with other targets such as peers and subordinates and using other kinds of conflict management styles such as mediation and arbitration.
Originality/value
This is one of few studies that have examined East Asian differences in conflict management styles.
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The purpose of the study is to examine whether and how different types of organizational culture are associated with job satisfaction and turnover intention among hospital nurses…
Abstract
Purpose
The purpose of the study is to examine whether and how different types of organizational culture are associated with job satisfaction and turnover intention among hospital nurses in Korea, where the work culture is often considered different from that of Western countries.
Design/methodology/approach
The sample for the study consists of 527 nurses working in two public hospitals in Korea. Perceived organizational culture was assessed by a previously validated 20‐item instrument, and job satisfaction and turnover intention were measured by self‐report questionnaires. Factor analysis was employed to construct four different types of culture (consensual, rational, developmental, and hierarchical). The relationship among organizational culture, job satisfaction, and turnover intention was tested by structural equation modeling (SEM).
Findings
Among the different types of culture, consensual culture and rational culture had significant, positive associations with the nurses' job satisfaction. In addition, consensual culture exhibited the strongest, negative association with the turnover intention of the nurses, while hierarchical culture showed a significant, positive association.
Research limitations/implications
Consensual culture that emphasizes teamwork and values human relations was most strongly associated with higher job satisfaction and lower turnover intention of nurses in Korea. However, caution is needed in inferring that organizational culture is the cause of the nursing outcomes because this study is designed as a cross‐sectional study; thus, an association alone was proven and not causality.
Practical implications
Managers should be aware that understanding the organizational culture can help them to determine where to strive to help improve nurses' job satisfaction and retention rate.
Originality/value
The results of the study may be useful to health administrators who wish to decrease nurse turnover. Improving nurses' job satisfaction in the work environment may reduce turnover and help ensure a stable and qualified workforce.
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The Hanbo (meaning Korean treasure) scandal or “Hanbogate” occurred on January 23, 1997, with the bankruptcy of Hanbo Iron and Steel Company, the second largest steel company and…
Abstract
The Hanbo (meaning Korean treasure) scandal or “Hanbogate” occurred on January 23, 1997, with the bankruptcy of Hanbo Iron and Steel Company, the second largest steel company and 14th largest conglomerate in South Korea, as its debt had accumulated to US$5.6 billion. Hanbo's bankruptcy triggered an investigation by the Public Prosecutor's Office that resulted in the imprisonment for 15 years of Hanbo's founder, Chung Tae-Soo, for bribing politicians and bankers to pressure banks to extend hugh bank loans to Hanbo. Nine other persons were also convicted including Chung's son, who was jailed for three years for bribery and embezzlement, and Kim Hyun-Chol, the second son of President Kim Young-Sam, who was sentenced to three years jail and fined US$1.5 million (New York Times, 1997).
The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.
Abstract
Purpose
The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.
Design/methodology/approach
A χ2 test was used to determine the municipalities where a regional voting pattern emerged, and λ correlation coefficients were calculated to examine changes in the regional voting patterns.
Findings
The analyses lead to three key findings. First, voting patterns differ in Yeongnam and Honam: regional voting in Yeongnam is getting weaker, it remains strong in Honam. Second, the tendency to vote along regional lines decreased significantly in the election in which the Honam party fielded a candidate with a Yeongnam appeared identity. Third, regional voting patterns declined but then stabilized at a constant level, regardless of the candidates’ local identity, which was confirmed in “Bu-Ul-Gyeong.”
Originality/value
This paper can empirically verify the manifestation of regional voting pattern and confirm the trend. It is possible to derive a condition for suppressing the regional voting pattern.