• Journal of the Korean Geographical Society
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• v.29 no.4
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• pp.420-437
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• 1994

The starting point of the research is the relation between capital restructuring and urban restructuring. The economic restructuring, which has been caused by the economic crisis in the early 1970s in the United States has brought a spatial restructuring at different geographic scales. The degree of the success of urban restructuring is contingent to the local economic and political environments. The local contingent factor such as local politics should not be neglected for investigating the restructuring process. Through the case study of Chicago, the research provides two inconsistencies in applying the structural approach to the local level: first, the lack of the theoretical link between crisis and restructuring; and second, the crucial importance of local politics in shaping urban development.

• Management & Information Systems Review
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• v.35 no.4
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• pp.1-19
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• 2016

The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.