• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.635-645
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• 2020

This research was conducted to achieve several objectives and focus research was based on financial behavior theory and prospect theory as grounded theory e.g., investigate the financial decision-making behavior between financial and real assets investment, and confirm the relationship existing between herding behavior and overconfidence factors to the level of loss and regret aversion, and financial literacy into real assets investment decisions. The study used 220 real estate auction respondents as investor samples at the State Assets and Auction Service Office Makassar, South Sulawesi, Indonesia. Data was collected through the use of a questionnaire consisting of 23 questions to measure the variables. Moreover, the research data passed through several feasibility tests like the inner and outer modeling by Partial Least Square - Structural equation model (PLS-SEM) while the hypotheses formulated were also tested to determine the magnitude of the variable relationship. Through the use of the direct and intervening test, loss and regret aversion variables have a positive and significant effect while financial literacy variables have no significant effect. There is a slight difference in the decision-making process for real assets and financial assets investors. Investment decision making behavior in the financial assets sector requires less complicated decisions compared to the decisions related to real assets investments.

• Korea Real Estate Review
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• v.27 no.1
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• pp.7-16
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• 2017

In this study, we examine whether there are prospect theory investment patterns for individual investors in the real estate market. We use the maximum potential profit rate and the maximum potential loss rate of individual investors as a research method and additionally analyze it using the Jeong and Park(2015) model. As a result of the analysis, it was found that the investment pattern according to the prospect theory and disposition effect for individual investors. And we find the difference between zoning areas. This difference in investment behavior is believed to be due to the purpose of the real estate and the existence of rent fee, which creates a difference in investment behavior depending on the purpose. The limitations of this study are the analysis measurement of potential profit and potential loss using the land price index like the study of jeong and Park(2015). This implies that a new property price index needs to be developed or a benchmark for real estate assets is needed for deeper study of real estate investment sentiment.

• Journal of Korean Society for Quality Management
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• v.52 no.1
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• pp.115-133
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• 2024

Purpose: The purpose of research is to explore the factors influencing the intention to adopt altcoin investments, based on the Unified Theory of Acceptance and Use of Technology. Through this, it seeks to elucidate the key factors impacting altcoin investment adoption, and provide a comprehensive understanding of the crypto-currency market and investor behavior. Methods: This study analyzed factors affecting altcoin investment intentions using frequency and descriptive analyses, and verified socio-demographic differences with t-tests and ANOVA. Exploratory factor and correlation analyses were conducted for research tool validity and relationship assessment among variables. Hypotheses were tested through regression analysis, integrating control, independent, and moderating variables, along with interaction terms, to establish the model and examine moderating effects. Results: As a result, it is revealed that higher age and experience in crypto-currency investment are associated with intention to invest. Among the independent variables, performance expectancy, social influence, facilitating conditions, and personal innovativeness have positive effects to investment intention to invest, while effort expectancy had a negative effect. The moderating variable, perceived risk, also negatively affected the intention to invest. Notably, significant moderating effects of perceived risk were observed in the relationships between investment intention and both performance expectancy and personal innovativeness. Conclusion: This study provides empirical verification into consumers' intentions to invest in altcoins, offering insights into investors' behavior and decision-making processes based on a practical understanding of altcoin investment acceptance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.99-106
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• 2020

CEOs Overconfidence can bring potentially risky early decisions to businesses, along with large enterprise free cash flow that can bring different investment decisions with CEOs Overconfidence. Especially in the context of Vietnamese enterprises, CEOs are often influenced by behavioral psychology about overconfidence in investment decisions (due to individual cultural characteristics as well as operating financial markets also depend on many factors outside the market). Therefore, the authors study the impact of overconfidence and cash flow on investment in Vietnamese to find the internal relationship between these three factors in the financial environment in Vietnam. With 480 companies listed on the Vietnam Stock Exchange from 2014 to 2018 (companies have continuous reports), the regression analysis results with panel data (FEM, GLS models, correction of robust and GMM dealing with endogenous problems) have shown Overconfidence has a positive impact on investment. At the same time, the results also indicated that enterprises with overconfident CEOs and large cash flows tend to invest less than enterprises with low cash flow. The results of this study have shown the behavioral behavior of CEOs in Vietnamese enterprises that exist under both prospect theory and effective market theory.

• Asia pacific journal of information systems
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• v.29 no.4
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• pp.591-614
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• 2019

With the proliferation of social media, it has become easier for people to spread rumors online, which can aggravate the issues arising from online rumors. There are many individuals and organizations that are adversely affected by malicious online rumors. Despite their importance, there has been little research into why and how people spread rumors online, thus inhibiting the understanding of factors that affect the spreading of online rumors. With attention seeking to address this gap, this paper draws upon the dual process theory and the de-individuation theory to develop a theoretical model of factors affecting the spreading of an online rumor, and then empirically tests it using survey data from 211 individuals about a specific rumor. The results indicate that the perceived credibility of the rumor affects the individuals' attitudes toward spreading it, which consequently affects the rumor spreading behavior. Vividness, confirmation of prior beliefs, argument strength, and source credibility positively influence the perceived credibility of online rumors. Finally, anonymity moderates the relationship between attitude toward spreading online rumors and the spreading behavior.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.53-68
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• 2014

This study is aimed at analyzing the factors that affect the behaviors of employee's investment, such as a decision making process in a variety of views and proving the extent of how those factors influence on their investment. The basic assumption is that the preceding factors that can be determined by the personal investment propensity, a psychological factor asserted by Behavior Financial Theory and financial-economic and social environment. This study uses Hershey's Investment Behavior Model(2007) as the main analysis tool to explain the investment behavior of individuals and deals with personal investment inclination in the psychological perspective of overconfidence, self-control and the risk tolerance propensity and add the financial and economic factors in terms of financial literacy and economic distress. Also the new preceding social environmental factors like social interaction and the effect of reference group are added to make this research to be more precise. This study analyze the adjustment effect of professional invest-consulting service that affect the fluctuation influence between the individual variables(those factors) and subordination variable(the level of investment satisfaction). The study reveals that overconfidence and self-control in direct ways have a positive effect on the level of investment satisfaction in terms of investment behavior and economic distress has a negative effect on the level of investment satisfaction. The adjustment effect provided by financial experts in investment consulting service is affirmed as the critical factor that increase the influence between self-control and the level of investment satisfaction. To conclude, the research reveals that the psychological factors are the main criteria when the workers as employees have to make investment decisions. To make investors be reasonable, a systematic financial education system provided by experts is needed from the early adolescent stages and financial companies should develop the relevant services of consulting service department as a key financial sector and financial investment products and consulting program and marketing tool pertinent to investors ages, vocational traits and their inclinations.

• Journal of Korea Trade
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• v.27 no.1
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• pp.60-78
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• 2023

Purpose - The study analyzed 90 online firms worldwise and observed them for ten years to investigate their investments and firm performance variabilities. This study attemped to verify the existence of agency problems in online firms. Through this, the paper intends to expand the scope of research in the fields of investment and firm value both empirically and in theory. This study also attempted to supplement the insufficient logic of previous studies by analyzing the relationship between investment and profitability. Design/methodology - In this study, the investment is subdivided into over-, under-, and neutral investments, and an empirical analysis of the firm performance was conducted. As investment generally has long-term effects, the impact of a firm's investment on future firm performance and variabilities in firm performance was considered over the short-and medium-term period. Findings - It was found that there was a negative relationship between firms with an overinvestment and future firm performance. Underinvestment has no clear statistically significant results on firm performance. This implies that overinvestment causes more reduction in future firm performance than underinvestment. It was also found that underinvestment and overinvestment significantly increased the variability of firm performance. A positive significance was found between under- and over- investment with a variability of 3 years and overinvestment with a variability of 4 years in the future. A negative relationship was found between neutral investment propensity and future performance variabilities. Neutral investment has less effect on the future performance variability of a firm than a firm's overinvestment and underinvestment. For online firms, underinvestment and overinvestment have a greater effect on the firm's future performance variability than neutral investment. Originality/value - The agency theory predicts that information asymmetry and adverse selection problems exacerbate conflicts of interest among stakeholders, thus firm performance. The study contributed to accumulating research on online firms that are currently underexplored by analyzing the investment behavior of major firms in the online industry.

• Journal of Korea Society of Digital Industry and Information Management
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• v.15 no.2
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• pp.87-99
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• 2019

The purpose of this study is to examine an organizational ICT(Information and Communication Technology) performance by ICT investment and policy consistency of government organizations. As the rapid development of ICT is becoming an essential element of social culture, the ICT operation of bureaucratic government also is becoming important. The central government has invested substantially new ICT for improving the quality of nationwide service and to promote administrative efficiency. However, various departments of government occur frequently duplication investments of ICT, and budget conflicts between organizations caused difficulties in maximizing ICT competency. I will confirm the ICT operational performance by ICT investment behavior and organizational work competency as well as the significance of ICT policy consistency. The method of study used a structural equation. The research model set ICT investment behavior as independent variables, organizational work competencies and policy consistency as mediations, and operational performance as dependencies. As a result of the research, New ICT interests show negative effects that caused work change between government organizations and government-funded body. But, New ICT convergence shows positive effects on increasing the two competency variables. The two competency variables show negative effects that caused changes in ICT policy consistency and show no impact on the ICT operational performance. The ICT policy consistency shows a positive effect on enhancing ICT operational performance. The study contribution explain updated the contingency theory and because the ICT policy consistency is essential, negotiation between government organizations will be important. Future research will require a qualitative study through interviews in government organizations about consistency enhance of ICT policy.

• Journal of Korean Society of Rural Planning
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• v.13 no.4
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• pp.43-51
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• 2007

The propose of this paper is to study a theory on the research of mountain village region in korea of globalization age. The theory of this study is over-depopulation region study, endogenous regional development theory and resident organization, localities and new regional studies The case of over-depopulation region study, which population and land use of mountain village region due to urbanization and industrialization are changed by external factors. However, the case of some region is changed by internal factors of community residents. The endogenous regional development theory and have approached by investment policy of authorities of the mountain village region development and resident organization. The development of mountain village region have to described simultaneously both behavior strategy of community residents and investment policy of the authorities. According to localities and new regional studies, which agricultural products of mountain village region is extended to big-scale city by the progress transportation-communication and globalzation So, the research of mountain village region have to explained together intra with inter region. In the future, the research of mountain village region has to described all of case of over-depopulation region study, endogenous regional development theory, localities and new regional studies.

• Asia pacific journal of information systems
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• v.30 no.1
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• pp.1-20
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• 2020

Malicious rumors often emerge online. However, few studies have examined why people spread online rumors. Recognizing that spreading online rumors is not only rational, but also emotional, this paper provides insights into the behavior of online rumor spreading using the cognitive emotion theory. The results show that perceived credibility of online rumors enhances both positive and negative emotions. However, positive emotions affect neither attitude nor behavior, whereas negative emotions affect both aspects of the spreading of online rumors. The results also indicate that prior positive attitude toward object influences negative emotions. Issues involvement moderates the relationship between attitude and behavior.