• 한국정보시스템학회지:정보시스템연구
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• 제30권4호
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• pp.1-20
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• 2021

Purpose Nowadays, Autonomous Sensory Meridian Response (ASMR) is rapidly growing in popularity and increasingly appearing in marketing. Not even in TV commercial advertisement, ASMR also fast growing in one-person media communication, many brands and social media influencers used ASMR for their marketing contents. The purpose of this study is to measure consumers' perceptions about the products in ASMR marketing content and compare the differences in communication effect of ASMR content creator between product review and how-to in the same Macro tier influencer - the YouTuber that has 10,000-100,000 subscribers. Design/methodology/approach The research methods selected ASMRtist that do product review content and how-to content, Text comments data was collected from 200 videos of tech-device review videos and beauty-fashion videos. A total of 52,833 text comments were analyzed by applying the LDA topic modeling algorithm and social network analysis. Findings Through the result, we can know that ASMR is good at taking attention of viewers with ASMR triggers. In the Tech device reviews field, ASMR viewers also focus on the product like product's performance and purchase. However, there are many topics related to reaction of ASMR sound, trigger, relaxation. In the Beauty-fashion field, viewers' topics mainly focus on the reaction of the ASMR trigger, response to ASMRtist and other topics are talking about makeup - fashion, product, purchase. From LDA result, many ASMR viewers comment that they feel more comfortable when watching the marketing content that uses ASMR. This result has shown that ASMR marketing contents have a good performance in terms of user watching experience, so applying ASMR can take more consumer intention. And the result of social network analysis showed that product review ASMRtist have a higher communication effectiveness than how-to ASMRtist in the same tier. As an influencer marketing strategy, this study provides information to establish an efficient advertising strategy by using influencers that create ASMR content.

• 아태비즈니스연구
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• 제12권3호
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• pp.379-396
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• 2021

Purpose - The purpose of this paper is to study the rational payoff from the standpoint of foreign investors and the government when the government issues GDP-linked bonds to foreign investors. Design/methodology/approach - In this paper, the prices of 12 types of GDP-linked bond structures, which are classified according to the calculation cycle of the rate of change of linked GDP, the currency issued, and whether options are embedded, were evaluated. The Fama-French 3-factor model and the GMM-SDF model are used in the asset pricing model, and domestic and overseas investors used different basis assets. Findings - The KRW premium for US investors is estimated to be 43bp on a quarterly basis and 30bp on an annual basis, respectively, meaning that when the government issues bonds in KRW, the interest rate paid to US investors will be reduced by 30bp to 160bp (annually converted). Using the Fama-French 3 factor model, the KRW premium is the risk premium for the US market beta, meaning that if US investors do not intend to invest in US market beta, it is advantageous to receive an additional interest rate by investing in USD-denominated GDP-linked bonds. Korea's GDP- linked bond give US investors diversified investment utility, so they are willing to incorporate Korean GDP-linked bonds even if -150bp of interest is deducted from the structure issued to Korean investors. And as a result of estimating the value of the option through the GDP-linked bond with options that provides a floor for guaranteeing the principal, the value of the option linked to the annual GDP issued in dollars was the lowest. Research implications or Originality - Issuing dollar-denominated GDP-linked bonds linked to annual GDP with the option of guaranteeing the principal by the government is a way to increase investment opportunities for US investors and achieve financial stability of the government.

• 아태비즈니스연구
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• 제14권1호
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• pp.149-169
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• 2023

Purpose - The main purpose of this study is to develop the stress test model for Korean banks by exploring the optimal Monte Carlo simulation and BIS forecasting model. Design/methodology/approach - This study selects 15 Korean banks as sample financial firms and collects relevant 76 quarterly data for the period between year 2000 and 2018 from KRX(Korea Excange), Bank of Korea, and FnGuide. The Regression analysis, Unit-root test, and Monte Carlo simulation are hired to analyze the data. Findings - First, most of the sample banks failed to keep 8% BIS ratio for the adverse and severely Adverse Scenarios, implying that Korean banks must make every effort to realize better BIS ratios under adverse market conditions. Second, we suggest the better Monte Carlo simulation model for the Korean banks by finding that the more appropriate volatility should be different depending on variables rather than simple two-sigma which has been used in the previous studies. Third, we find that the stepwise regression model is better fitted than simple regression model in forecasting macro-economic variables for the BIS variables. Fourth, we find that, for the more robust and significant statistical results in designing stress tests, Korean banks are required to construct more valid time-series and cross-sectional data-base. Research implications or Originality - The above results all together show that the optimal volatility in designing optimal Monte Carlo simulation varies depending on the country, and many Korean banks fail to pass sress test under the adverse and severely adverse scenarios, implying that Korean banks need to make improvement in the BIS ratio.

• 아태비즈니스연구
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• 제14권2호
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• pp.63-84
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• 2023

Purpose - The purpose of this study is to examine the effect of CSR activities on innovation performance and to identify the mediating role of knowledge sharing and innovation behaviors between CSR activities and innovation performance. In addition, the purpose of this study is to verify the role of sequential mediating effect of knowledge sharing and innovation behavior between CSR activities and innovation performance. Design/methodology/approach - This study collected survey data from 293 organizational members working in Chinese companies. The exploratory factor analysis (EFA), confirmatory factor analysis (CFA), reliability analysis, correlation analysis and process macro were used in order to analyze the data. Findings - First, this study verified that CSR activities had a significant positive effect on knowledge sharing, innovation behavior, and innovation performance. Second, it was found that knowledge sharing had a significant positive effect on innovation behavior and innovation performance. Third, it was verified that innovation behavior had a significant positive effect on innovation performance. Fourth, knowledge sharing and innovation behavior had a sequential mediating effect in the relationship between CSR activities and innovation performance. Research implications or Originality - With the uncertainty of the environment and the intensification of competition among companies, more and more companies begin to pay attention to innovation. Different from existing studies, this study focuses on CSR activities, identifies the role of CSR activities, explores ways to guide innovation performance, and verifies the sequential mediating role of knowledge sharing and innovation behavior. Through this measure, the importance of knowledge sharing and innovative behavior among organizational members is emphasized, solutions to strengthen innovation are explored, and theoretical and practical implications are provided for companies.

• 유통과학연구
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• 제12권11호
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• pp.45-53
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• 2014

Purpose - Goal setting is effective in any domain in which an individual or group has some control over the outcomes. It applies not only to work tasks but also to sports and health, and in various other settings. Its success depends on considering the mediators and moderators determining its efficacy and applicability. This study investigates the individual factors influencing academic goal attainability. Unlike previous studies, we focused on the effect of the relationships between individual traits (passion, tenacity, self-control) and specific motivation (vision, self-efficacy, implementation intentions) with academic goal attainability, rather than the effects of the relationship between commitment and the goal shielding mechanism with goal attainability. Research design, data, and methodology - Data collected through questionnaires were analyzed by the SPSS program. A total of 293 school students, who participated in the TOEIC program, participated in the survey. Slightly more than half were female (male: n=145 vs. female: n=148). We verified nine hypotheses through various statistical methods (reliability analysis, exploratory factor analysis, confirmatory factor analysis, structural equation model for the hypothesis test, bootstrapping test for the mediation test). Results - Data was analyzed in three phases. The first phase involved measurement analysis (i.e., item purification and factor structure confirmation), involving the scales of the three variables of individual traits, three mechanism variables, and goal attainability. The second phase involved estimating the proposed structural relationships among the key constructs (see Figure 1), using the results to test H1 to H9. The final phase involved examining the mediating effects of the three variables (vision, implementation intention, and self-efficacy). The research model shows that the independent variable passion has a significant result with both the mediators-vision and self-efficacy. Further, vision and self-efficacy significantly affect goal attainability. The second variable, self-control, shows a significant effect when mediated by implementation intentions, but the direct relationship between implementation intension and goal attainability shows an insignificant result. However, when further mediated by self-efficacy, it showed a significant effect between self-efficacy and goal attainability. Similarly, the third variable, tenacity, shows an insignificant result when mediated by vision. In contrast, the mediator self-efficacy shows a positive effect between tenacity and goal attainability. Conclusions - This study shows how these individual traits, when mediated with the appropriate motivational factors, resulted significantly in the attainability of academic goals. We may identify several theoretical and practical contributions. Theoretically, we developed a step further in the research into consumer goals and related studies. Future research could examine the effects of different learning goal types and their combinations with performance goals (e.g., learning goals first, then performance goals), different types of goal framing (approach success vs. avoid failure), the relation between goals and cognition (which, by implication, entails all of cognitive psychology), goal hierarchies, and macro goal studies with organizations of different sizes. More studies on the relationship between conscious and subconscious goals would also be valuable.

• 유통과학연구
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• 제11권10호
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• pp.73-79
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• 2013

Purpose - This study examines the impact of oil price volatility on economic activities in Korea. The new millennium has seen a deregulation in the crude oil market, which invited immense capital inflow into Korea. It has also raised oil price levels and volatility. Drawing on the recent theoretical literature that emphasizes the role of volatility, this paper attends to the asymmetric changes in economic growth in response to the oil price movement. This study further examines several key macroeconomic variables, such as interest rate, production, and inflation. We come to the conclusion that oil price volatility can, in some part, explain the structural changes. Research design, data, and methodology - We use two methodological frameworks in this study. First, in regards to the oil price uncertainty, we use an Exponential-GARCH (Exponential Generalized Autoregressive Conditional Heteroskedasticity: EGARCH) model estimate to elucidate the asymmetric effect of oil price shock on the conditional oil price volatility. Second, along with the estimation of the conditional volatility by the EGARCH model, we use the estimates in a VECM (Vector Error Correction Model). The study thus examines the dynamic impacts of oil price volatility on industrial production, price levels, and monetary policy responses. We also approximate the monetary policy function by the yield of monetary stabilization bond. The data collected for the study ranges from 1990: M1 to 2013: M7. In the VECM analysis section, the time span is split into two sub-periods; one from 1990 to 1999, and another from 2000 to 2013, due to the U.S. CFTC (Commodity Futures Trading Commission) deregulation on the crude oil futures that became effective in 2000. This paper intends to probe the relationship between oil price uncertainty and macroeconomic variables since the structural change in the oil market became effective. Results and Conclusions - The dynamic impulse response functions obtained from the VECM show a prolonged dampening effect of oil price volatility shock on the industrial production across all sub-periods. We also find that inflation measured by CPI rises by one standard deviation shock in response to oil price uncertainty, and lasts for the ensuing period. In addition, the impulse response functions allude that South Korea practices an expansionary monetary policy in response to oil price shocks, which stems from oil price uncertainty. Moreover, a comparison of the results of the dynamic impulse response functions from the two sub-periods suggests that the dynamic relationships have strengthened since 2000. Specifically, the results are most drastic in terms of industrial production; the impact of oil price volatility shocks has more than doubled from the year 2000 onwards. These results again indicate that the relationships between crude oil price uncertainty and Korean macroeconomic activities have been strengthened since the year2000, which resulted in a structural change in the crude oil market due to the deregulation of the crude oil futures.