• Title/Summary/Keyword: Optimism Design

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Impact Factors Analysis on AR Shopping Service's Immersion

  • SHIN, Myoung-Ho;LEE, Young-Min;KIM, Jin-Hwan
    • Journal of Distribution Science
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    • v.17 no.12
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    • pp.13-21
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    • 2019
  • Purpose - It is very important to examine customer's behavior about AR shopping either practically or academically. Thus, it will be worthwhile to discuss more in details about AR utility which is even in early stage of distribution industry now. Research design, data, and methodology - This study has designed in consideration of control effects of perceived complexity based on customer's flow as dependent variable, and on AR characteristics and technology readiness as independent variables. Study data has been collected from questionnaires after using AR shopping service directly by those who are 20-30 years old of male and female respondents, which has been analyzed with 167 questionnaires. Hypothesis is verified using by hierarchical regression analysis. Results - After results of hypothesis verified, positive influence has been shown in terms of sensory immersion, manipulation, and optimism, however, it is rejected in relation to navigation and innovativeness. Control effect of perceived complexity has not been appeared. Conclusions - Implications of this study are as follows. First, AR shopping service has to provide an informational value. Second, by providing AR service to customer group, marketing activities will be in effects. Third, recognized complexity is not connected with significant control effect in terms of customer's devotion of service.

An Investigation into Behavioral Biases Among Investors in Korean Distribution Firms

  • Jeong-Hwan LEE;Se-Jun LEE;Sam-Ho SON
    • Journal of Distribution Science
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    • v.22 no.9
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    • pp.49-63
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    • 2024
  • Purpose: This study examines how psychological heuristics influence stock price dynamics in Korea's distribution industry after significant price shocks. Research Design, Data, and Methodology: The study analyzes daily stock price movements exceeding 10% for Korean distribution companies from 1993 to 2022. It establishes anchoring heuristic reference points, including the 52-week high and low, and segments the sample based on company size and volatility. Results: We analyzed a sample previously studied by Lee et al. (2023). Our findings indicate that when a stock experiences a positive (negative) price shock near its 52-week high (or lowest price), investors in large (small) companies exhibit an optimism (pessimism) bias. This leads to overreactions and subsequent stock price reversals after the event date. Conversely, when a stock encounters a negative (positive) price shock near its 52-week high (or lowest price), investorstend to underreact due to anchoring heuristics. Thisresultsin a drift effect on the stock price after the event day. Notably, investor behavior around 52-week highs or lows directly impacts their heuristic behavior related to those price points. Conclusions: This paper uniquely examines behavioral biases among distribution-related stock investors in Korea, shedding light on stock price reversal and drift effects.

Biophilic Color Palette Development based on NeuroArchitecture towards Psychological Healing - Focused on the Landscape Painting of Impressionism 'Claude Monet' - (심리 치유를 위한 신경건축학 기반의 바이오필릭 색채 팔레트 정량화 - 인상주의 '모네'의 풍경화를 중심으로 -)

  • Choi, Yoon-Young;Lee, Hyun-Soo
    • Journal of the Architectural Institute of Korea Planning & Design
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    • v.36 no.2
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    • pp.43-52
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    • 2020
  • With the advent of the Fourth Industrial Revolution, people need healing. Research in neuroarchitecture shows that people feel happy and stable when working with nature, and patients heal quickly. Therefore, This study aims to quantitatively analyze the colors that help psychological healing in the painting images depicting nature by setting 'Natural Colors' of Biophilic Design as the subject of research. So the purpose of this study was to measure Biophilic Color and to develop Biophilic Color Palette. We extracted Biophilic colors using Impressionist Monet's Landscape painting. After extracting colors using Photoshop Color Picker, we converted RGB color code to NCS color code and Munsell color code. The results of this study were as follows; The ratio of Y was high in the GY-series and YR-series. This is due to the characteristic of impressionism that expresses the change of color by light in close relationship with light. Y is universally considered to be pleasant, representing happiness, sunshine and optimism. Therefore, it is possible to create an environment that helps psychological healing by utilizing the Y-series color palette. Average Blackness was 28. Average Chromaticness was 34.61. The significance of this study is to propose a biophilic color palette that is useful for psychological healing by quantifying the color code of biophilic colors depicted and expressed with adjective images and idiomatic color names. Quantitative and empirical studies on healing colors are needed continuously and should be actively utilized in healing environment planning.

The Effect of Managerial Overconfidence on Crash Risk (경영자과신이 주가급락위험에 미치는 영향)

  • Ryu, Haeyoung
    • The Journal of Industrial Distribution & Business
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    • v.8 no.5
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    • pp.87-93
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    • 2017
  • Purpose - This paper investigates whether managerial overconfidence is associated with firm-specific crash risk. Overconfidence leads managers to overestimate the returns of their investment projects, and misperceive negative net present value projects as value creating. They even use voluntary disclosures to convey their optimistic beliefs about the firms' long-term prospects to the stock market. Thus, the overconfidence bias can lead to managerial bad news hoarding behavior. When bad news accumulates and crosses some tipping point, it will come out all at once, resulting in a stock price crash. Research design, data and methodology - 7,385 firm-years used for the main analysis are from the KIS Value database between 2006 and 2013. This database covers KOSPI-listed and KOSDAQ-listed firms in Korea. The proxy for overconfidence is based on excess investment in assets. A residual from the regression of total asset growth on sales growth run by industry-year is used as an independent variable. If a firm has at least one crash week during a year, it is referred to as a high crash risk firm. The dependant variable is a dummy variable that equals 1 if a firm is a high crash risk firm, and zero otherwise. After explaining the relationship between managerial overconfidence and crash risk, the total sample was divided into two sub-samples; chaebol firms and non-chaebol firms. The relation between how I overconfidence and crash risk varies with business group affiliation was investigated. Results - The results showed that managerial overconfidence is positively related to crash risk. Specifically, the coefficient of OVERC is significantly positive, supporting the prediction. The results are strong and robust in non-chaebol firms. Conclusions - The results show that firms with overconfident managers are likely to experience stock price crashes. This study is related to past literature that examines the impact of managerial overconfidence on the stock market. This study contributes to the literature by examining whether overconfidence can explain a firm's future crashes.

Fashion Omni-Channel Service Acceptance Based on Consumer's Technology Readiness (소비자의 기술 준비도에 따른 패션 옴니채널 서비스 수용태도)

  • Lee, Ha Kyung;Kwon, Ki Yong;Choi, Ara;Choo, Ho Jung
    • Journal of the Korean Society of Clothing and Textiles
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    • v.40 no.6
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    • pp.1045-1061
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    • 2016
  • This study clarifies differences in attitudes toward the Omni-Channel service (Pintech service, Beacon service, and Click and Collect service) and fashion consumption behavior among four clusters grouped by level of technology readiness. An online survey was conducted; 572 individuals between 20 and 30 years of age were collected, but only 539 were used. Factor analysis, cluster analysis, descriptive statistics, ANOVA, and frequency analysis were adopted to analyze data using SPSS 20.0. The results are as follows. Technology readiness was divided into four factors: optimism, innovativeness, discomfort, and insecurity. Participants were divided into four groups according to four sub-factors of technology readiness: brave adopters, optimistic laggards, indifferent adopters, and critical adopters. These groups showed significant differences in attitudes toward the Omni-Channel service and fashion consumption behavior. Critical adopters and brave adopters recognized the value of the Omni-Channel service and had more positive attitudes toward it than other groups. Critical adopters also better perceived the risk of service with new technology that showed higher fashion innovativeness and monthly consumption of fashion products than other groups. We inferred that the indifferent adopters did not use the Omni-Channel service or services offered by fashion retailers as much as other groups because indifferent adopters were less interested in both the Omni-Channel service and fashion consumption behavior than other groups. Optimistic laggards viewed the Omni-Channel service optimistically, despite perceptions of high risks to accompanying it and a low intent to use it. The results of this study assisted in the formation of a theoretical framework of consumer behavior associated with the Omni-Channel, which is an emerging issue in research related to distribution. The results can help fashion industries that operate consumer-oriented marketing based on Omni-Channel strategies.

Shadow of War Covering the Steam Punk Animations (스팀펑크 애니메이션에 드리운 전쟁의 그늘 -미야자키 하야오 감독의 작품을 중심으로-)

  • Oh, Jin-hee
    • Cartoon and Animation Studies
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    • s.46
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    • pp.63-84
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    • 2017
  • Overwhelming images of vividly colored aircraft flying across the blue sky and steam gushing from massive machines are reminiscent of Japanese animation films, especially of works by master director Hayao Miyazaki. By presenting together steam engines, which are mechanical devices of the Industrial Age in the past, and aircraft of the future age, the director constructs ambiguous space and time. These special time and space constitute nostalgia for past time, with devices called steam engines as a medium, and a longing for science and the future as represented by aircraft. In addition, the anticipation and disappointment, ideals and regrets of humans who see these two from the perspective of the present are projected on the works. This shares the characteristic of the steam punk genre, which seeks to return to the past rather than to face current problems. A subgenre of science fiction (henceforth "sci-fi"), steam punk reflects fundamental skepticism of science and technology and mechanized civilization, which have developed beyond human control. In addition, as works that clearly display such characteristics, director Miyazaki's and < $Nausica{\ddot{a}}$ of the Valley of Wind> can be examined. With spectacles of steam engines and aircraft, these two works enticingly visualize narratives about nature and humans and about the environment and destruction. Such attractiveness on the part of the master director's works has led to support from fans worldwide. However, often in the backgrounds of director Miyazaki's works, which have depicted ideal worlds of nature, environment, and community as highly concentrated fantasies, lie presuppositions of war and the end of the world. As works that are especially prominent in such characteristics, there are and . These two works betray the expectations of the audience by establishing the actual wartime as the temporal background and proceeding toward narratives of reality. Trapped in the ontological identity of the director himself, the war depicted by him projects a subjective and romantic attitude. Such a problem stems also from the ambiguity of the hybrid space and time, which is basic to the steam punk genre. This is because the basic characteristic of steam punk is to transplant past time, which humans were able to control, in the future from a perspective of optimism and longing via steam engines rather than to face current problems. In this respect, steam punk animation films in themselves can be seen as having significance and limitations at the same time.

The Effect of Common Features on Consumer Preference for a No-Choice Option: The Moderating Role of Regulatory Focus (재몰유선택적정황하공동특성대우고객희호적영향(在没有选择的情况下共同特性对于顾客喜好的影响): 조절초점적조절작용(调节焦点的调节作用))

  • Park, Jong-Chul;Kim, Kyung-Jin
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.1
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    • pp.89-97
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    • 2010
  • This study researches the effects of common features on a no-choice option with respect to regulatory focus theory. The primary interest is in three factors and their interrelationship: common features, no-choice option, and regulatory focus. Prior studies have compiled vast body of research in these areas. First, the "common features effect" has been observed bymany noted marketing researchers. Tversky (1972) proposed the seminal theory, the EBA model: elimination by aspect. According to this theory, consumers are prone to focus only on unique features during comparison processing, thereby dismissing any common features as redundant information. Recently, however, more provocative ideas have attacked the EBA model by asserting that common features really do affect consumer judgment. Chernev (1997) first reported that adding common features mitigates the choice gap because of the increasing perception of similarity among alternatives. Later, however, Chernev (2001) published a critically developed study against his prior perspective with the proposition that common features may be a cognitive load to consumers, and thus consumers are possible that they are prone to prefer the heuristic processing to the systematic processing. This tends to bring one question to the forefront: Do "common features" affect consumer choice? If so, what are the concrete effects? This study tries to answer the question with respect to the "no-choice" option and regulatory focus. Second, some researchers hold that the no-choice option is another best alternative of consumers, who are likely to avoid having to choose in the context of knotty trade-off settings or mental conflicts. Hope for the future also may increase the no-choice option in the context of optimism or the expectancy of a more satisfactory alternative appearing later. Other issues reported in this domain are time pressure, consumer confidence, and alternative numbers (Dhar and Nowlis 1999; Lin and Wu 2005; Zakay and Tsal 1993). This study casts the no-choice option in yet another perspective: the interactive effects between common features and regulatory focus. Third, "regulatory focus theory" is a very popular theme in recent marketing research. It suggests that consumers have two focal goals facing each other: promotion vs. prevention. A promotion focus deals with the concepts of hope, inspiration, achievement, or gain, whereas prevention focus involves duty, responsibility, safety, or loss-aversion. Thus, while consumers with a promotion focus tend to take risks for gain, the same does not hold true for a prevention focus. Regulatory focus theory predicts consumers' emotions, creativity, attitudes, memory, performance, and judgment, as documented in a vast field of marketing and psychology articles. The perspective of the current study in exploring consumer choice and common features is a somewhat creative viewpoint in the area of regulatory focus. These reviews inspire this study of the interaction possibility between regulatory focus and common features with a no-choice option. Specifically, adding common features rather than omitting them may increase the no-choice option ratio in the choice setting only to prevention-focused consumers, but vice versa to promotion-focused consumers. The reasoning is that when prevention-focused consumers come in contact with common features, they may perceive higher similarity among the alternatives. This conflict among similar options would increase the no-choice ratio. Promotion-focused consumers, however, are possible that they perceive common features as a cue of confirmation bias. And thus their confirmation processing would make their prior preference more robust, then the no-choice ratio may shrink. This logic is verified in two experiments. The first is a $2{\times}2$ between-subject design (whether common features or not X regulatory focus) using a digital cameras as the relevant stimulus-a product very familiar to young subjects. Specifically, the regulatory focus variable is median split through a measure of eleven items. Common features included zoom, weight, memory, and battery, whereas the other two attributes (pixel and price) were unique features. Results supported our hypothesis that adding common features enhanced the no-choice ratio only to prevention-focus consumers, not to those with a promotion focus. These results confirm our hypothesis - the interactive effects between a regulatory focus and the common features. Prior research had suggested that including common features had a effect on consumer choice, but this study shows that common features affect choice by consumer segmentation. The second experiment was used to replicate the results of the first experiment. This experimental study is equal to the prior except only two - priming manipulation and another stimulus. For the promotion focus condition, subjects had to write an essay using words such as profit, inspiration, pleasure, achievement, development, hedonic, change, pursuit, etc. For prevention, however, they had to use the words persistence, safety, protection, aversion, loss, responsibility, stability etc. The room for rent had common features (sunshine, facility, ventilation) and unique features (distance time and building state). These attributes implied various levels and valence for replication of the prior experiment. Our hypothesis was supported repeatedly in the results, and the interaction effects were significant between regulatory focus and common features. Thus, these studies showed the dual effects of common features on consumer choice for a no-choice option. Adding common features may enhance or mitigate no-choice, contradictory as it may sound. Under a prevention focus, adding common features is likely to enhance the no-choice ratio because of increasing mental conflict; under the promotion focus, it is prone to shrink the ratio perhaps because of a "confirmation bias." The research has practical and theoretical implications for marketers, who may need to consider common features carefully in a practical display context according to consumer segmentation (i.e., promotion vs. prevention focus.) Theoretically, the results suggest some meaningful moderator variable between common features and no-choice in that the effect on no-choice option is partly dependent on a regulatory focus. This variable corresponds not only to a chronic perspective but also a situational perspective in our hypothesis domain. Finally, in light of some shortcomings in the research, such as overlooked attribute importance, low ratio of no-choice, or the external validity issue, we hope it influences future studies to explore the little-known world of the "no-choice option."