• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.19-29
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• 2020

The paper examines the impact of information about cash flow from operating activities of firms listed on Vietnam's stock market to the decision making of individual investors. Data were collected from interviews with 160 individual investors about their investment decisions based on information on profit growth and cash flow growth from operating activities. T-test was conducted to research on Vietnam's stock market - a market considered as information that is not really public, transparent and ineffective. The research results show that: (1) investors do not care about cash flow from operating activities when making investment decisions if the company's profits grow positively, (2) information about cash flow from operating activities only affects the decisions of individual investors once profit growth is negative, and (3) conflicting information between profit growth and cash flow growth from business activities significantly affects the confidence and comfort of investors in Vietnam's stock market when they make investment decisions. Then, the study points out the mistake of investors when making investment decisions, and offers recommendations to investors when making investment decisions, not only concerned with profit growth, but also paying special attention to cash flow growth, especially cash flow from the company's business operations.

• Asian Journal of Business Environment
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• v.10 no.2
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• pp.5-15
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• 2020

Purpose: This study examines the impact of individual reciprocal preferences on coalition formation. The reciprocal model considers a player's own payoff, the player's perception of others' payoffs, and others' perceptions of the player's payoff. Research design, data and methodology: A reciprocal model is built to illustrate how reciprocity influences individual decisions in a coalition game and its formation. The prediction is examined with experimental evidences from a dictator game and a membership game. Results: The theoretical result suggests that the coalition formation could be unstable due to negative reciprocal kindness. The experimental findings support that negative reciprocal kindness could lead players participating in a coalition, no matter their dominant strategies are. When subjects were essential to make contributions to a coalition, they were more likely to cooperate if they were treated badly. In contrast, when subjects were unnecessary, the reciprocal kindness could enhance cooperative tendencies. Conclusions: This study reveals that the reciprocal behavior could influence individual decisions and reshape the coalition formation. In terms of policy implications, this study has shown that coalition formation could be reshaped by reciprocal prefe rences. Due to the strategic and complicated decision process in an interactive environment, a comprehensive investigation of factors would be required in a climate coalition in practice.

• Korean Business Review
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• v.23 no.1
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• pp.1-16
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• 2010

It is generally considered from the point of view of macroeconomics that inflation has an effect favorable to the owners of tangible assets in the allocation of assets and lightens the burden of debtors in the redemption of their liabilities. But, this effect of inflation has not yet been fully verified in the case of individual firms. Accordingly, in this article I will examine the effect of inflation on the financial and investment decisions of individual companies.

• Management Science and Financial Engineering
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• v.21 no.1
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• pp.19-24
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• 2015

As decision makers do not make optimal decisions in practice despite the existence of optimal solutions in many models, there has been a rising interest in behavioral operations management recently. In this study, we aim for a comparative study to analyze the inventory decisions in Korea, America, and China, by conducting the same newsvendor experiment in Korea and compare the results with those of previous studies. From the comparative analysis, some national characteristics in decision-making processes have been observed but there is lowly significant difference in order quantities among the three groups. Korean students show lower level of understanding in demand distributions and tendencies of anchoring on the mean demand and being risk-averse. The finding that individuals make their own decisions differently based on their different behaviors suggests that we need to consider individual approach in analyzing human decision-making processes rather than adapting aggregate approach.

• Journal of Distribution Science
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• v.13 no.11
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• pp.31-37
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• 2015

Purpose - This study is an effort to assess the role of behavioral biases in investment decision making, specifically for mutual funds, and the moderating role of the investor. Individual investment behavior is concerned with choices about purchasing various securities. However, behavioral finance disputes the concept of perfect rationality and identifies psychological factors and their impact on decision-making. Research design, data, and methodology - A survey questionnaire was designed and used to collect responses using a judgmental sampling technique from 290 investors in the Gwalior Region. Cronbach's Alpha, factor analysis, and linear regression were all used to test the influence of behavioral biases on investment decision. Results - We found that the behavioral biases have a positive impact on investment decisions. Conclusions - This study's results identified three factors influencing investor behavior(rationale, investment skills, and profit making) and four factors influencing investor decisions (profit maker, market analysis, investment plan, seller). The overall results of the study also show that there is no significant relationship between investor behavior and investment decisions by gender in the market.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.1-19
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• 2020

Purpose - This study analyzes the intertemporal patterns in personnel decisions made between a supervisor and a subordinate to understand potential supervisor bias in the decisions. A correlation between the current and the most recent personnel decisions made for a subordinate by a current supervisor captures certain relationship-embedded and time-invariant factors in effect. The characteristics speak to the nature of a supervisor bias arising from a relationship, or favoritism. Design/methodology/approach - This study manually collects the executive profile data from annual reports of key Samsung Group affiliates and compile a longitudinal sample of 3,675 executive-years. It mainly explores the logistic regression analysis. Findings - The study finds that a supervisor' previous promotion award to a subordinate does not improve but decreases the likelihood of promotions in ensuing years, suggesting the containment of favoritism; and that the time since the last promotion award to a subordinate by the current supervisor increases the likelihood of both promotions and dismissals of the subordinate. Research implications or Originality - The findings are generally consistent with the theory suggesting that incentive schemes that align interests between an individual and an organization will contain the form of a supervisor bias.

• Korean Medical Education Review
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• v.26 no.1
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• pp.48-54
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• 2024

The career choices of medical students are significant for both individual students and society, which relies on a robust public healthcare system. Medical schools should provide a conducive environment and diverse information to enable students to make mature career decisions. Yonsei University College of Medicine conducts extracurricular programs for students' career development, including the Career Choice Expo, Career Path Survey, Special Lecture on Career Development, and a Visible Radio Show focused on career counseling. Additionally, the intracurricular activities offered by the college include career advising to students through faculty advisors in learning communities based on students' reflective writing about career-related activities. Medical students, in the process of forming their career decisions, compare what they have learned in the medical school curriculum with information acquired through extracurricular activities, taking into consideration their individual characteristics. Through longitudinal discussions with faculty advisors in learning communities, medical students not only gain recognition for the validity of their exploratory activities but also develop a sense of self-efficacy in making career decisions. The career education program at Yonsei University College of Medicine aligns with recent perspectives emphasizing the integration of career counseling for medical students into the curriculum in order to increase effectiveness.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Journal of Environmental Policy
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• v.7 no.4
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• pp.57-73
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• 2008

This short paper considers the situation where an environmental policy could play a source of an exogenous background risk at an individual's wealth and analyzes the effect of such a background risk on the individual's decision making in a simple chance-improving model. Our analysis shows that risks at initial wealth generated by an environmental policy could be regarded as an exogenous background risk in many cases and that such a risk makes a risk averse person behave more risk aversely in some restricted decision making situations. A policy maker considering an environmental policy which would affect individuals' initial wealth should take into account that the environmental policy could affect an individual's seemingly irrelevant economics decisions via his or her wealth.

• Journal of Information Processing Systems
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• v.13 no.4
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• pp.928-940
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• 2017

State-of-the-art speaker recognition systems may work better for the English language. However, if the same system is used for recognizing those who speak different languages, the systems may yield a poor performance. In this work, the decisions of a Gaussian mixture model-universal background model (GMM-UBM) and a learning vector quantization (LVQ) are combined to improve the recognition performance of a multilingual speaker identification system. The difference between these classifiers is in their modeling techniques. The former one is based on probabilistic approach and the latter one is based on the fine-tuning of neurons. Since the approaches are different, each modeling technique identifies different sets of speakers for the same database set. Therefore, the decisions of the classifiers may be used to improve the performance. In this study, multitaper mel-frequency cepstral coefficients (MFCCs) are used as the features and the monolingual and cross-lingual speaker identification studies are conducted using NIST-2003 and our own database. The experimental results show that the combined system improves the performance by nearly 10% compared with that of the individual classifier.