• Economic Analysis
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• v.25 no.1
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• pp.1-33
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• 2019

This paper examines the economic factors that are related to the dynamics of the variance risk premium, and specially, which economic factors are related to the forecasting power of the variance premium regarding future index returns. Eleven general economic variables, eight interest rate variables, and eleven sentiment-associated variables are used to figure out the relevant economic variables that affect the variance risk premium. According to our empirical results, the won-dollar exchange rates, foreign reserves, the historical/implied volatility, and interest rate variables all have significant coefficients. The highest adjusted R-squared is more than 65 percent, indicating their significant explanatory power of the variance risk premium. Next, to verify the economic variables associated with the predictability of the variance risk premium, we conduct forecasting regressions to predict future stock returns and volatilities for one to six months. Our empirical analysis shows that only the won-dollar exchange rate, among the many variables associated with the dynamics of the variance risk premium, has a significant forecasting ability regarding future index returns. These results are consistent with results found in previous studies, including Londono (2012) and Bollerslev et al. (2014), which show that the variance risk premium is related to global risk factors.

• Asia Marketing Journal
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• v.15 no.1
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• pp.169-188
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• 2013

Established in 2006 as the forward integration effort by Taesung Industry, the major cosmetic packaging company, TONYMOLY has phenomenally grown to one of the major cosmetic brand companies in the submarket called, 'one brand-shop' of cosmetic market since 2008, after overcoming the crisis of 'going out of business' in a couple of early years. Within a relatively short period of time, TONYMOLY's performances have dramatically improved in terms of metrics such as growth in sales revenue, the number of stores, the average sales per store, transaction value per customer, the number of monthly transactions, the number of membership-based customers, and overseas sales. In this case study, we have examined TONYMOLY's recent marketing activities which may explain the plausible reasons behind the substantial growth of a small but smart cosmetic company. Above all, the first key success factor of TONYMOLY would be found in its adherence to the clear philosophy of the customer value proposition and/or the differentiated position of TONYMOLY as a brand of providing value. Second, this brand concept of value was first penetrated and welcomed among the foothold customer target group of mid and late teens with appropriate products, while the target groups were later expanded into the age group of twenties along with expansion of relevant products. Third, its differentiation efforts have been concrete and meaningful by utilizing unique ingredients in its product development and marketing efforts, unique fun packaging, and continuously introducing new hit-selling products as well as managing steady-selling products. Fourth, TONYMOLY has been smart enough to use its limited marketing money efficiently and effectively in its marketing communication activities. Viral marketing, PPL, and concentrated media planning and execution turned out to produce effective and efficient market-based performances such as awareness, word-of-mouth, and sales. Lastly, the marketing leadership of CEO and top management, emphasizing communications and interactions, was confirmed in the relationship quality with and trust level of its franchisees and internal employees. These key success factors may explain the recent phenomenal market performances of TONYMOLY. Despite recent successes, the major issues are presented for TONYMOLY to consider for maintaining its sustainable advantages and growth. The first issue concerns TONYMOLY's choice of growth philosophy between product/brand-centric marketing and customer-centric marketing. The second challenging issue relates to how TONYMOLY can cope with 'growing pains' plausibly accompanied with the rapid growth.

• Korean Journal of Culture and Social Issue
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• v.14 no.1_spc
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• pp.63-109
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• 2008

This article examines psychological factors that contribute to educational achievement of Korean adolescents. By reviewing empirical research, three core areas are outlined. First, positive and negative roles that Korean society play on academic achievement are analyzed. Compared to other countries, Korean society places a high premium, pressure an investment on educational achievement. This has contributed to the rapid economic growth and development, but at the same time it has created numerous social problems. Second, psychological and relational dynamics of investing in and achieving success in education are delineated. Through indigenous psychological analysis, the role parents play in motivating and regulating their children to succeed academically is reviewed. In addition, the role of teachers and friends and the coordinated efforts of Korean society are outlined. Third, future directions and transformations in education that are needed in Korean society are discussed. Although Korean adolescents are high achievers in high school, this is not the case at the university level. Since Korean students are interested in entering a prestigious university, they have developed skills in doing well in standardized tests. Educational reforms need to take into consideration individuals' personal interests, skills and creativity to ensure that the knowledge that they acquired can be used to further their career and improve their subjective well-being. Educational transformation does not imply simply adopting Western models, but developing indigenous models that can maximize human and cultural potential and stimulate curiosity, diversity and creativity that are necessary in the global era.

• Information Systems Review
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• v.25 no.4
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• pp.161-181
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• 2023

As the post-COVID-19 consumer life environment is rapidly becoming non-face-to-face, changing non-face-to-face financial life services are having a significant impact on consumers' daily lives. People who do not have access to digital devices and services that have become essential goods are at risk of being left behind in the "digital blind spot," where they are marginalized not only in their daily lives but also in society and the economy as a whole (Kim Min-Jeung A, Kim Min-Jung B, Park Joo-Yung, 2022). In this study, we examined the effects of perceived control factors, Cognitive control, behavioral control, and decisional control, on intention to use digital finance. For this study, we surveyed 133 customers who are aware of and intend to use digital finance. The results show that cognitive control, behavioral control, and decisional control have significant effects on intention to use digital finance. In this relationship, the moderating effect of privacy concerns differs from the effect of decision control on intention to use digital finance. These findings suggest that digital financial services firms should consider whether to reduce or increase customer control. Based on these findings, we discuss marketing strategies and implications for digital financial services companies.

• Journal of Internet of Things and Convergence
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• v.9 no.6
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• pp.83-92
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• 2023

The purpose of this study is to provide a rational management strategy to improve the management performance of companies through intellectual property activities. Through this study, we aim to explore countermeasures to strengthen competitiveness in a changing global environment. A survey of 200 companies was conducted from September 1 to October 30, 2023. Statistical analysis was conducted using frequency analysis, exploratory factor analysis, reliability analysis, correlation analysis, multiple regression analysis, and difference analysis. The conclusions are as follows. First, the impact of intellectual property activities on management performance was found to be creation and utilization. Second, the impact of management strategies on management performance was found to be differentiation strategy, cost advantage strategy, and concentration strategy. Third, cost advantage strategy has a partial mediation effect on the relationship between creation activities and managerial performance of intellectual property activities. Fourth, the differentiation strategy has a partial mediating effect on the relationship between the creation of intellectual property activities and managerial performance. In addition, differentiation strategy has a full mediating effect on the relationship between the utilization of intellectual property activities and performance. Fifth, concentration strategy has a partial mediating effect on the relationship between intellectual property activity utilization and management performance. Sixth, there is a difference between creation activities, protection activities, utilization activities, cost advantage strategy, differentiation strategy, financial performance, and non-financial performance based on venture certification status. As the importance of intellectual property is increasing in the era of technological hegemony, IoT companies will need to improve their management performance through venture certification and strategies utilizing intellectual property in order to secure future competitiveness. Based on this study, we hope that IoT companies will maximize their performance by implementing efficient strategies that consider IP activities.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.139-159
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• 2023

As the founders of small and medium-sized businesses age, the issue of business succession becomes increasingly important. In this study, we empirically analyzed the impact of various human and institutional factors on corporate succession intentions, including the CEO's competency, the successor's competency, third-party stakeholders, and institutional factors such as legislation, taxation, and trust. We surveyed CEOs who were currently running small and medium-sized enterprises (SMEs), and received a total of 201 valid questionnaires. We then conducted an empirical analysis using the multiple regression analysis method. Our results showed that both the CEO's competency and the successor's competency, which are human factors, had a significant positive impact on corporate succession intention. Institutional factors such as taxation and trust also had a significant positive impact on corporate succession intention. However, third-party stakeholders and legislation did not have a significant effect on corporate succession intention. Among the factors that had a significant impact, the size of the influence was in the order of successor's competency, CEO's competency, taxation, and trust. These research results have both academic and practical implications. By going beyond existing studies that focus solely on human factors, we have revealed that institutional factors such as taxation and trust have a very important impact on corporate succession.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.873-881
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• 2023

The evolution of civil engineering technology, exemplified by recent milestones like the completion of the Gangnam Global Business Center (GBC), has fostered the construction of expansive civil and architectural structures both above and below the earth's surface. This surge in construction necessitates a commensurate advancement in research and technology pertaining to safety protocols applicable to these vast edifices. Such protocols encompass a spectrum of concerns, ranging from the preemptive mitigation of accidents to the effective management of exigencies such as fires. As the trajectory of construction endeavors continues unabated, encompassing both subterranean and elevated domains, a concomitant imperative emerges to refine the methodologies underpinning precise indoor positioning. To address this need, an innovative web-based simulator has been devised to emulate indoor positioning scenarios for rigorous testing. This research further entails the development of an indoor positioning data Application Programming Interface (API) fortified by Geographic Information System (GIS) spatial operation techniques. This API is anchored in the construction of intricate test data, centered on the spatial layout of building 13 at the Electronics and Telecommunications Research Institute (ETRI). Consequently, the study renders feasible the expeditious provisioning of diverse signal-based and image-based spatial information, pivotal for enhancing the navigational acumen of mobile devices. Path delineation, cellular signal mapping, landmark identification, and ancillary navigational aids are among the manifold datasets promptly furnished by the indoor positioning data API. In summation, this study engenders a crucial leap towards the fortification of safety protocols and navigational precision within the expansive confines of modern architectural wonders.

• Journal of Intelligence and Information Systems
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• v.29 no.4
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• pp.1-13
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• 2023

The widespread adoption of smartphones and advancements in internet technology have notably shifted content consumption habits toward video. This research aims to dissect the nature of videos posted on YouTube, the global video-sharing platform, to understand the characteristics of both produced and preferred content. For this study, dance was chosen as a specific subject from a variety of video categories. Data on YouTube videos associated with the term "dance" was compiled over three years, from 2019 to 2021. The investigation revealed a clear distinction between the types of dance videos frequently uploaded to YouTube and those that receive a high number of views. The empirical analysis of this study indicates a viewer preference for vlogs that provide insights into the daily lives of dance students, as well as for purpose-driven videos, such as those highlighting dance exam preparations or school dance events. Notably, the vlogs that attract the most attention are typically created by dance students at the college or secondary school level, rather than by professionals. Although the study was focused on dance, its methodologies can be applied to different subjects. These insights are expected to contribute to the development of a recommendation system that aids content creators in effectively targeting their productions.

• Journal of Intelligence and Information Systems
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• v.29 no.4
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• pp.51-68
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• 2023

With the emergence of the internet and the increasing use of online communities for over 20 years, the age range of users has also been rising. This study explores the linguistic changes that have occurred as the user age in online communities has increased. To do this, data was collected and analyzed from an online community that has been actively operating, despite new member registrations being closed nine years ago. By comparing the posts over an 11-year period from 2012 to 2022, changes such as an increase in average comments, a decrease in interrogative sentences, and a decrease in imperative statements were observed. The study also proposed loneliness due to aging and a decline in curiosity and confidence as potential causes of these changes. In South Korea, which is rapidly entering an aging society unprecedentedly fast on a global scale, the increase in single-person households has evolved loneliness from a personal issue to a social problem, manifested in an increase in solitary deaths and reclusive individuals. This research sheds light on one aspect of these social phenomena through the analysis of data from a large online community.

• Journal of Intelligence and Information Systems
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• v.29 no.4
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• pp.309-323
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• 2023

As the role of online reviews has become increasingly crucial, numerous studies have been conducted to utilize helpful reviews. Helpful reviews, perceived by customers, have been verified in various research studies to be influenced by factors such as ratings, review length, review content, and so on. The determination of a review's helpfulness is generally based on the number of 'helpful' votes from consumers, with more 'helpful' votes considered to have a more significant impact on consumers' purchasing decisions. However, recently written reviews that have not been exposed to many customers may have relatively few 'helpful' votes and may lack 'helpful' votes altogether due to a lack of participation. Therefore, rather than relying on the number of 'helpful' votes to assess the helpfulness of reviews, we aim to classify them based on review content. In addition, the text of the review emerges as the most influential factor in review helpfulness. This study employs text mining techniques, including topic modeling and sentiment analysis, to analyze the diverse impacts of content and emotions embedded in the review text. In this study, we propose a review helpfulness prediction model based on review content, utilizing movie reviews from IMDb, a global movie information site. We construct a review helpfulness prediction model by using an explainable Graph Neural Network (GNN), while addressing the interpretability limitations of the machine learning model. The explainable graph neural network is expected to provide more reliable information about helpful or non-helpful reviews as it can identify connections between reviews.