Yongwon Kim, Inwook Song and Young Kyu Park
Using overlapped portfolio data on public equity funds in Korea, the authors construct several types of fund-stock weighted bipartite networks and measure fund network centrality…
Abstract
Using overlapped portfolio data on public equity funds in Korea, the authors construct several types of fund-stock weighted bipartite networks and measure fund network centrality. The authors also examine the relationship between network centrality and fund investment performance. The authors' results are three-fold. First, the authors find that the fund centrality of the network in which funds and stocks are connected based on the most active investing behavior positively affects the fund performance. Second, the funds with a high centrality level based on the same network generate higher returns by holding stocks with high value uncertainty. Third, the authors find that fund centrality is not associated with herd behavior. Based on these results, the authors argue that fund centrality is a proxy of information advantage and skill of fund managers. The authors' paper shows that network analysis could be a new way to identify funds with better performance and measure the skill and information advantage to construct an optimal portfolio.
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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…
Abstract
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.
Beth McGee, Xu Jin, Nam-Kyu Park, Skylar Ball and April Carr
The Biophilic Interior Design Matrix (BID-M) was created to assist designers with identifying biophilic interior design features for optimizing nature integration for…
Abstract
Purpose
The Biophilic Interior Design Matrix (BID-M) was created to assist designers with identifying biophilic interior design features for optimizing nature integration for evidence-based design. The BID-M was developed and tested with interior design practitioners in the United States. There was a need to further develop the BID-M for other cultures along with understanding the designers' perceptions of biophilia.
Design/methodology/approach
A mixed methods approach was used with 101 interior designers/architects practicing in China using a pre- and post-questionnaire surrounding a room assessment using the BID-M.
Findings
The Chinese translation of the BID-M was perceived as beneficial to design practice, evaluated as reliable and valid. The Chinese designers perceived a significant increase in knowledge and importance of biophilia after using the BID-M and it was useful in assisting all parts of the design process. The designers had some prior experience with biophilic design and clients have been requesting suitable natural and artificial light features.
Practical implications
The BID-M was seen as a human centered design tool that is useful to evaluate biophilic design features in the built environment.
Originality/value
Overall, the BID-M appears to be useful throughout the design process to ultimately support well-being. The participants' cultural background expands use of the BID-M and provides opportunities for additional cultural applications of biophilic design and future research. The BID-M offers additional language for incorporating biophilic design as well as serving to educate and guide feature selection.
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Jun-Phil Uhm, Hyun-Woo Lee, Jin-Wook Han and Dong-Kyu Kim
The purpose of this study is to examine the effect of background music on consumer's psychological and physiological responses when watching sports advertisements. We investigated…
Abstract
Purpose
The purpose of this study is to examine the effect of background music on consumer's psychological and physiological responses when watching sports advertisements. We investigated how consumers' exposure to background music affects emotional arousal, attention, brand attitude and purchase intentions; and further tested consumers' information processing by using the same measures. Effects of music on viewer responses were hypothesized using arousal theory while the information processing was hypothesized using hierarchy-of-effects model.
Design/methodology/approach
We employed a between-subjects experimental design with random assignment. Fifty-four participants were recruited with 27 in an experimental group and 27 in a control group. Quantitative electroencephalogram (qEEG) and self-report measures were used to assess information processing. A multivariate analysis of covariance was conducted to compare the mean differences of variables between the groups. Partial least squares algorithm and bootstrapping were performed to further explore the relationships among the measures.
Findings
Mean differences indicated that the background music exposed group's emotional arousal, attention, brand attitude and purchase intention were significantly higher than those of the non-exposure group. Path analysis showed that the level of arousal induced by watching sports advertisements affected attention, attention affected brand attitude and brand attitude affected purchase intention. Indirect paths from arousal to brand attitude and attention to purchase intention were significant.
Originality/value
This study provides practical implications for sports marketers regarding methods to increase the effectiveness of sport advertisement. Results might contribute theoretically to the sports advertisement field by demonstrating the relationship between physiological and marketing-effect factors. Our method of measuring physiological response using qEEG is also expected to influence physiological measurement in sports marketing.
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Soo Kyung Park, Kyu Tae Kwak and Bong Gyou Lee
In a sharing economy, economically inactive members can serve as providers owing to the low start-up costs. However, such providers may operate without sufficient knowledge of the…
Abstract
Purpose
In a sharing economy, economically inactive members can serve as providers owing to the low start-up costs. However, such providers may operate without sufficient knowledge of the market and policies, causing significant problems. To prevent illegal sharing, governments encourage providers to register their businesses after meeting certain requirements, but most providers still operate unregistered businesses. The purpose of this paper is to explore the causes of policy non-compliance and suggest measures that can induce compliance.
Design/methodology/approach
Based on the rational choice and deterrence theories, this study combines qualitative and quantitative research. The former is used to investigate the antecedent factors affecting compliance. Using the latter, this study assumes that the existence of platform operators can resolve information asymmetries. The qualitative findings provide the variables that can lead to policy compliance, while the quantitative research verifies the causal relationships.
Findings
Business registration by providers in the sharing economy arises from their subjective cost-benefit calculations of policy compliance. According to the qualitative research, they believe there is a low risk of detection of policy non-compliance by the government. The quantitative research suggests that interventions by platform operators could resolve information asymmetries between the government and providers.
Originality/value
This study designed a mechanism to guide providers toward policy compliance. To reduce friction with the existing market and ensure efficient growth, it is necessary to cooperate with sharing economy participants. The results suggest that the role of platform operators and the government is important.
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Ching-Chiu Hsu, Jeong-Yang Park and Yong Kyu Lew
In cross-border mergers and acquisitions (M&As), acquirers often fail to achieve the expectations they held when they made the M&A deals. This paper aims to propose that the risks…
Abstract
Purpose
In cross-border mergers and acquisitions (M&As), acquirers often fail to achieve the expectations they held when they made the M&A deals. This paper aims to propose that the risks of cross-border M&As can be mitigated by building and cultivating organizational resilience as a prime means of risk management.
Design/methodology/approach
The research examines risks associated with cross-border M&A and how such risks can be mitigated by developing resilience. It presents dual cases of acquisitions of the biggest branded mobile phone manufacturer in Taiwan.
Findings
The authors find that the acquirer faces multiple risks in cross-border M&A transactions, including financial, strategic and organizational, and process risks that arise from misalignment between the goal of the M&As and the post-acquisition performance of the target firms.
Originality/value
The research provides theoretical insights on organizational resilience and how it can mitigate the specific risks involved in cross-border M&As, thereby developing coherent organizational resilience processes.
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Young-Myon Lee and Michael Byungnam Lee
While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s…
Abstract
While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s when academics began to write books and papers on the Korean labor movement, labor laws, and labor economics. In this paper, we sketch this history and describe important events and people that contributed to the development of industrial relations in Korea. Korean industrial relations in the early 20th century were significantly distorted by the 35-year-Japanese colonial rule (1910–1945). After regaining its independence, the U.S. backed, growth-oriented, military-based, authoritarian Korean government followed suit and consistently suppressed organized labor until 1987. Finally, the 1987 Great Labor Offensive allowed the labor movement to flourish in a democratized society. Three groups were especially influential in the field of industrial relations in the early 1960s: labor activists, religious leaders, and university faculty. Since then, numerous scholars have published books and papers on Korean industrial relations, whose perspectives, goals, and processes are still being debated and argued. The Korean Industrial Relations Association (KIRA) was formed on March 25, 1990 and many other academic and practitioner associations have also come into being since then. The future of industrial relations as a field of study in Korea does not seem bright, however. Issues regarding organized labor are losing attention because of a steadily shrinking unionization rate, changing societal attitude toward labor unions, and the enactment of new and improved laws and regulations regarding employment relationships more broadly. Thus, we suggest that emerging issues such as contingent workers, works councils and tripartite partnership, conflict management, and human rights will be addressed by the field of industrial relations in Korea only if this field breaks with its traditional focus on union and union–management relations.
The purpose of this paper is to examine how corruption has changed over time in South Korea and to explore how the corruption control and prevention efforts of the Korean…
Abstract
Purpose
The purpose of this paper is to examine how corruption has changed over time in South Korea and to explore how the corruption control and prevention efforts of the Korean government have been successful and failed.
Design/methodology/approach
This paper draws on institutional theory to formulate a qualitative analysis to assess the effectiveness of anti-corruption policies and measures, and to identify the strengths and weaknesses of anti-corruption reform efforts in South Korea.
Findings
This paper argues that while the Korean government has been quite successful in building anti-corruption institutions to control low-level petty corruption, it has failed to institutionalize anti-corruption institutions to curb high-level grand corruption.
Originality/value
While many studies have attempted to identify the successful factors of fighting corruption, this paper draws a theoretical distinction between institution-building vs institutionalization to examine the success and failure of corruption control and prevention efforts in South Korea.
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KyuJin Shim, Young Kim and ChihYao Chang
This study aims to propose a model of publics' ethical activism, testing the role of emotional outrage in an extended framework of the previously established STOPS model. Thus…
Abstract
Purpose
This study aims to propose a model of publics' ethical activism, testing the role of emotional outrage in an extended framework of the previously established STOPS model. Thus, this study aims to investigate (1) how ethical perception of a social issue affects situational motivation that leads to participation in public activism, and (2) how emotional outrage plays a role in mediating between situational motivation and activism behaviors.
Design/methodology/approach
The study aims at investigating the mediating role of emotional outrage between situational motivation and activism behaviors, which have not been investigated thoroughly in public relations research. By conducting a national survey with 386 people (N = 386) living in Australia, the study's suggestive model was tested in the context of two ethical issues (e.g. climate change and anti-racism). This study found that people who perceive an ethical issue are likely to be motivated to participate in activism behaviors. Specifically, three situational perceptions (i.e. problem recognition, constraint recognition and involvement recognition) were found to be significant factors affecting situational motivation (SM) in problem solving. A high level of emotional outrage was found to play a mediating role between SM and consequential ethical activism behaviors. The more people feel outraged about an ethical issue, the more likely they will engage in punitive behavior. This study contributes to the theoretical development of public relations by illuminating how situational perceptions lead to emotional outrage that promotes behavioral intentions in an ethical context. This study also suggests that a practitioner should be sought to manage the levels of perceptual factors when setting up a communication plan in response to an ethical public crisis.
Findings
This study found that people who perceive an ethical issue are likely to be motivated to participate in activism behaviors. Specifically, three situational perceptions (i.e. problem recognition, constraint recognition and involvement recognition) were found to be significant factors affecting situational motivation (SM) in problem solving. A high level of emotional outrage was found to play a mediating role between SM and consequential ethical activism behaviors. The more people feel outraged about an ethical issue, the more likely they will engage in punitive behavior.
Research limitations/implications
This study substantiates how three perceptual antecedents may conjointly affect situational motivation. Also, the findings in this study also contribute to theoretical development in predicting ethical activism intentions. Another contribution of this study is to demonstrate the mediating role of emotional outrage between situational motivation and ethical activism. The authors strived to explore individuals' perceptions and its impact on intention to boycott against ethical problematic social issues. It should be considered that this study used a hypothetical and manipulated situation where respondents are exposed to the visual stimuli that focus on the moral problems that those specific issues have raised.
Practical implications
First, as problem recognition plays a prime mover role in the overall problem-solving process in an ethical context, organizations should reduce individual's ethical problem recognition. When setting up a communication plan, an organization should showcase their positive role in addressing the ethical problems (e.g. to show Adani's commitment to indigenous people and efforts to protect the environment). The response strategy should be effective enough to create an “ethical dilemma,” which refers to a situation in which one has a difficult choice to make between two ethical options.
Originality/value
This study contributes to theoretical development of public relations by illuminating how situational perceptions lead to emotional outrage that promotes behavioral intentions in an ethical context. This study also suggests that a practitioner should be sought to manage the levels of perceptual factors when setting up a communication plan in response to an ethical public crisis.