• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.103-135
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• 2008

We test the hypothesis whether foreign direct investments(hereafter "FDI") can affect the changes of the firm value. In this study, we use a newly developed event study technique, referred to as value-based event study approach(hereafter "VESA"), which is based on the seminal papers of M&M(1958, 1961, 1963) and Lee(2006, 2007). The empirical findings about the effects of FDI's on the intrinsic firm values, which can be measured by intrinsic Q(hereafter "IQ") values of the VESA, are as follows; First, the FDI's are carried out by healthy firms in terms of high IQ's. The IQ values become higher during the post-FDI period than prior to performing FDI's. Second, among the four components of IQ values, the value of assets-in-place, the value of intangible assets, and the value of growth opportunities are all increased during the post-FDI period, except the value of current earnings. Third, the same results are observed in all the samples classified by industry. In sum, thanks to the above findings in this study, we can conclude that the announcements of the FDI's are good and reliable indicators for the firm to signal to the market that the FDI firms are healthy in intrinsic firm values, and also that they have good chances to increase their firm values through the new investments abroad.

• Journal of Intelligence and Information Systems
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• v.29 no.2
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• pp.323-338
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• 2023

TV advertising with deep analysis of watching pattern of audiences is important to set-top box audience targeting. Applying session-based recommendation model(SBR) to internet commercial, or recommendation based on searching history of user showed its effectiveness in previous studies, but applying SBR to the TV advertising was difficult in South Korea due to data unavailabilities. Also, traditional SBR has limitations for dealing with user preferences, especially in data with user identification information. To tackle with these problems, we first obtain set-top box data from three major broadcasting companies in South Korea(SKB, KT, LGU+) through collaboration with Korea Broadcast Advertising Corporation(KOBACO), and this data contains of watching sequence of 4,847 anonymized users for 6 month respectively. Second, we develop personalized session-based recommendation model to deal with hierarchical data of user-session-item. Experiments conducted on set-top box audience dataset and two other public dataset for validation. In result, our proposed model outperformed baseline model in some criteria.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.85-105
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• 2021

In this study, a case study was conducted on Advanced Nano Products Co.,Ltd, a company that was established in 2000 and has the core technology to produce and commercialize nano materials and ultrafine nano powders based on nano technology. Deviating from the general case study, a case study analysis frame was set based on the theory of technology management and industry-university cooperation theory, and cases were analyzed. In this case study, Advanced Nano Products Co.,Ltd. was analyzed from two analytical perspectives: the establishment of a Management Of Technology system within the company and the Industry-Academic Cooperation activity. Based on this theoretical-based analysis framework, company visit interviews and related data research and analysis were conducted. As a result of the study of the case company, it was possible to derive how the technology management and industry-university cooperation affect the growth stage of the company as follows. First, the strategic use of technology management is an important factor in strengthening the competitive advantage and core competencies of venture companies, and for survival and growth of startups in the early stages. Second, strategic use of technology management and patents and establishment of a patent management system are a part of business strategy and play a pivotal role in corporate performance. Third, the human and material infrastructure of universities affects the growth of companies in the early stage of start-up, and the high utilization of industry-university cooperation promotes the growth of companies. Fourth, continuous industry-academic cooperation activities in the growth and maturity stages of a company's growth stage are the basis for activating external exchanges and building networks. Lastly, technology management and industry-university cooperation were found to be growth factors for each growth stage of a company. In order for a company to develop continuously from the start-up to the growth and maturity stages, it is necessary to establish a technology management system from the beginning and promote strategic technology management activities. In addition, it can be said that it is important to carry out various industry-academic cooperation activities outside the company. As a result of the case analysis, it was found that Advanced Nano Products Co.,Ltd, which performed these two major activities well, overcame the crisis step by step and continued to grow until now. This study shows how the use of technology management and industry-academic cooperation creates value in each growth stage of technology-based venture companies. In addition, its active use will play a big role in the growth of other venture companies. The results of this case study can be a valid reference for growth research of technology start-up venture companies and related field application and utilization.

• Journal of the Korean Geographical Society
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• v.47 no.4
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• pp.522-540
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• 2012

The main aim of the paper is to identify the position or status of Korean economic geography in changing global economic geography by reviewing papers published in Korean geographical journals since the mid-1950s. Since the late 20th century as economic geography has developed significantly with the introduction of new research issues, methodologies, and theory and concepts, economic geography in Korea also has gone through rapid development in terms of both quantitative and qualitative perspectives. The paper attempts to analyze trends in Korean economic geography by reviewing agricultural, industrial, commercial geographies, and others since the mid-1950s. The review of economic geography in Korea would be based on four periods classified by research issues and approaches; foundation (~1950s), positioning (1960s and 1970s), jump and rush (1980s and mid-1990s), and transitional period (late 1990s~). Agricultural geography in Korea has decreased due to increases of the interests in industrial geography since the 1980s. In particular, since the late 1990s industrial geography has undergone a significant transition in accordance with the emergence of new theories of institutional perspectives, centering around issues on value chains, innovative cluster, cooperative and competitive networks, foreign direct investment, flexible specialization and venture ecology. Along with this, there has been changes in the interest of commercial geography in Korea from researches on periodical markets, the structure of store formats, and distributions by commodity, to researches on producer services and retailer's locational behaviors and commercial supremacy according to the emergence of new store formats. Since the late 1990s, many researches and discussions associated with the new economic geography began to emerge in Korea. Various research issues are focused on analyzing changes of local, regional and global economic spaces and their processes in relation to institutional perspectives, knowledge and innovation, production chain and innovative networks, industrial clusters and RIS, and geographies of service. Although economic geography in Korea has developed significantly both in quantitative and qualitative perspectives, we pointed out that it has still limited in some specific scope and issues. Therefore, it is likely to imply that its scope and issues should be diversified with new perspectives and approaches.

• Cartoon and Animation Studies
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• s.20
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• pp.75-86
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• 2010

Recently, as the number of female players has increased rapidly, the electronic gaming industry has begun to look at ways to appeal to the largely untapped female market. According to the latest game market investigative report by China Internet Network Information Center (CNNIC), the total number of game players in China increased by 24.8% in 2009, reached 69,130,000 people, and 38.9% of them are female players. This growth in the number of female player is corroborated by a series of investigative reports from IResearch Company in Shanghai, China: from 2003 to 2009, the number of female players grew from 8% to more than 49%. Therefore, no matter how much attention the game production companies have given to male players or how they have ignored the female players before, the companies would be sensible to face up this reality and adjust their marketing policy a bit more. This article analyzes gender preferences in video games which shows that male players are more likely to be attracted to elements of aggression, violence, competition and fast action in electronic game-playing, while female players are drawn to emotional and social aspects of the games such as an understanding of character relationships. The literatures cited indicates that female players also show apparent preference for games with familiar environments, games that allow players to work together, games that have more than one way to win, and games in which characters do not die. It also discusses the characteristics of female-friendly games from the aspect of emotion, pointing out that the simulation games involving pet, dressing-up, and social simulation games are very popular with female players. Because these are the most suitable game types to fill with emotions of love, share, jealousy, superiority, mystery, these are absolutely attractive to female players. Finally, in accord with the above, I propose some principles of designing female-oriented games, including presenting a good-looking leading character, making the story interesting with "live" NPCs(Non-Playing Characters), and finding ways to satisfy female nature instincts such as taking care of others and the inborn interest of classifying and selecting.

• Asia Marketing Journal
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• v.14 no.2
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• pp.65-96
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• 2012

Brand has received much attention from considerable marketing research. When consumers consume product or services, they are exposed to a lot of brand related stimuli. These contain brand personality, brand experience, brand identity, brand communications and so on. A special kind of new crisis occasionally confronting companies' brand management today is the brand related rumor. An important influence on consumers' purchase decision making is the word-of-mouth spread by other consumers and most decisions are influenced by other's recommendations. In light of this influence, firms have reasonable reason to study and understand consumer-to-consumer communication such as brand rumor. The importance of brand rumor to marketers is increasing as the number of internet user and SNS(social network service) site grows. Due to the development of internet technology, people can spread rumors without the limitation of time, space and place. However relatively few studies have been published in marketing journals and little is known about brand rumors in the marketplace. The study of rumor has a long history in all major social science. But very few studies have dealt with the antecedents and consequences of any kind of brand rumor. Rumor has been generally described as a story or statement in general circulation without proper confirmation or certainty as to fact. And it also can be defined as an unconfirmed proposition, passed along from people to people. Rosnow(1991) claimed that rumors were transmitted because people needed to explain ambiguous and uncertain events and talking about them reduced associated anxiety. Especially negative rumors are believed to have the potential to devastate a company's reputation and relations with customers. From the perspective of marketer, negative rumors are considered harmful and extremely difficult to control in general. It is becoming a threat to a company's sustainability and sometimes leads to negative brand image and loss of customers. Thus there is a growing concern that these negative rumors can damage brands' reputations and lead them to financial disaster too. In this study we aimed to distinguish antecedents of brand rumor transmission and investigate the effects of brand rumor characteristics on rumor spread intention. We also found key components in personal acceptance of brand rumor. In contextualist perspective, we tried to unify the traditional psychological and sociological views. In this unified research approach we defined brand rumor's characteristics based on five major variables that had been found to influence the process of rumor spread intention. The five factors of usefulness, source credibility, message credibility, worry, and vividness, encompass multi level elements of brand rumor. We also selected product involvement as a control variable. To perform the empirical research, imaginary Korean 'Kimch' brand and related contamination rumor was created and proposed. Questionnaires were collected from 178 Korean samples. Data were collected from college students who have been experienced the focal product. College students were regarded as good subjects because they have a tendency to express their opinions in detail. PLS(partial least square) method was adopted to analyze the relations between variables in the equation model. The most widely adopted causal modeling method is LISREL. However it is poorly suited to deal with relatively small data samples and can yield not proper solutions in some cases. PLS has been developed to avoid some of these limitations and provide more reliable results. To test the reliability using SPSS 16 s/w, Cronbach alpha was examined and all the values were appropriate showing alpha values between .802 and .953. Subsequently, confirmatory factor analysis was conducted successfully. And structural equation modeling has been used to analyze the research model using smartPLS(ver. 2.0) s/w. Overall, R² of adoption of rumor is .476 and R² of intention of rumor transmission is .218. The overall model showed a satisfactory fit. The empirical results can be summarized as follows. According to the results, the variables of brand rumor characteristic such as source credibility, message credibility, worry, and vividness affect argument strength of rumor. And argument strength of rumor also affects rumor intention. On the other hand, the relationship between perceived usefulness and argument strength of rumor is not significant. The moderating effect of product involvement on the relations between argument strength of rumor and rumor W.O.M intention is not supported neither. Consequently this study suggests some managerial and academic implications. We consider some implications for corporate crisis management planning, PR and brand management. This results show marketers that rumor is a critical factor for managing strong brand assets. Also for researchers, brand rumor should become an important thesis of their interests to understand the relationship between consumer and brand. Recently many brand managers and marketers have focused on the short-term view. They just focused on strengthen the positive brand image. According to this study we suggested that effective brand management requires managing negative brand rumors with a long-term view of marketing decisions.