• Journal of Korea Trade
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• v.26 no.4
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• The Journal of the Korea Contents Association
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• v.18 no.11
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• pp.47-54
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• 2018

The purpose of this study is to explore a difference in crisis between media and parties. This research examined political crisis situation, crisis response, and media coverage using a case. Two main political parties in Korean faced the illegal fund raising case during the 16th presidential election. They used types of crisis response strategies for restoring or maintaining their reputation. This study found that a party's crisis response was consistent with news media, but another party's message was significantly different from news media. Such match or mismatch between a party and news media will influence on public evaluation toward a crisis response. This study has meaningful contribution in that the difference between an organizational crisis response message and news media coverage is significant.

• 사회경제평론
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• v.31 no.1
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• pp.25-61
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• 2018

Nowadays 87 regimes born in the same year with the Korean Association for Political Economy(KAPE in abbreviation) have ended historically. This paper surveys the research trends of KAPE after 2007 for the 30th founding anniversary. This survey is expected to help research way forward of KAPE. The main contents of the surveys are as follows. Global finance crisis caused by subprime mortgage crisis in 2007 expanded to global economic crisis resulting in the crisis of economics. KAPE criticized the mainstream economics with different approach and methodology as well as political economy copying with the crisis of economics and then focused on economics of inequality. However, the progressive economics is depressed under the conservative regime after 2007. As a result, the progressive economics have experienced the crisis of reproduction of knowledge and have become the peripheral science in Korea. With new regimes after 87 regimes, more important than restoration of the progressive economics is rebirth as the progressive economics corresponding to new regime and new era. This is responsibility of KAPE as the single association of the progressive economics in Korea.

• Journal of Digital Contents Society
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• v.18 no.5
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• pp.839-847
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• 2017

Korean public service broadcasting(PSB) is facing identity crisis and debate on improving PSB governance. In order to analyze the causes of the crisis of PSB, We attempted to typify the constituent factors of governance of PSB based on the perception of public service broadcasting employees and media professionals. The results of the study are summarizes as follows. First, PSB' governance is typified by four factors such as market influence, political influence, professionalism, and guarantee of PSB system. Secondly, it is analyzed that only political influence among PSB governance factors has a significant effect on the perception of crisis of PSB. Thirdly, it is analyzed that the way of constituting the KBS board and the ratio of personnel have a meaningful influence on 'political influence'. The results of this study confirm that Korean PSB needs to improve the governance structure of PSB away from political influence in order to secure the legitimacy and identity.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.29-36
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• 2022

This study uses the panel probit model to investigate and evaluate the relationship between exchange rate regimes, political stability, and carbon dioxide during currency crises. To understand currency crisis times, we study a panel dataset of seven South Asian nations that contain annual observations from 1996 to 2020. Furthermore, we created the EMPI exchange market pressure indicator to detect crises. Our results strongly suggested that fixed exchange rate is negatively associated with currency crises, with good regulatory quality and better effective governments. Simultaneously, the floating exchange rate is positively related to the currency crises in those countries where the rule of law has less adequately flowed. However, CO₂, exports, and interest rates are buoyantly associated with crises. The floating exchange rate, the rule of law, exports, and interest rate are associated positively and contribute more prone to the crisis episodes. Negatively associated variables contributed less amid crises episodes: fixed exchange rate regime, government effectiveness, and regulatory quality. Meanwhile, CO₂ has a positive relationship with a currency crisis and contributes more likelihood to the probability of a currency crisis. Countries that adopted the fixed exchange rates with effective governments and regulatory quality faced more minor currency crises.

• Journal of Contemporary Eastern Asia
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• v.7 no.2
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• pp.1-16
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• 2008

• Korean journal of communication and information
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• v.50
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• pp.164-186
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• 2010

Korean society, suffered from a severe currency crisis in 1997, had scarcely missed another market meltdown in 2008. However, neither economic fundamentals nor has political stability little to do with the recent crises. This paper thus projects the possibility of 'self-fulfilling crisis' in which the media took a critical part in amplifying 'crisis discourses.' For the purpose of understanding of media's impact on such a crisis, at first, this paper chose 'September Crisis in 2008' as a case study. While collecting news articles about the crisis, then, total 118 news articles collected from mainstream newspapers such as DongA-ilbo and Money Today have been analyzed in terms of media frame and discourse strategies. Research results showed that not only has the crisis discourse been shifted by economic situations, but the media re-constructed economic realities in way of justifying their political ideology and loyal readership. Taking those findings into consideration, in final, the authors urged the media to improve their performance by embracing more responsible and professional manners.

• English & American cultural studies
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• v.18 no.1
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• pp.121-140
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• 2018

Faced with a series of violent confrontations on civil rights in the State of Alabama in 1963, John F. Kennedy gave a formal speech that heralded the end of his unusually long-drawn-out aloofness from the issue. The speech marked a new phase in Kennedy's political leadership as the thirty-fifth president of the United States employed a rhetoric of moral failure, defining the University of Alabama crisis and the ensuing civil rights struggle as a threat to American federalism and national ideals. This paper employs the formal, neoclassical terms of rhetoric to analyze the distinct mode of persuasion Kennedy employs in which the former U.S. president (1) appeals to moral interpretation as a proper solution to the aggravating social situation and (2) puts an interpretation on civil disorder in Birmingham, Alabama as a major threat to national identity, rather than a regional, largely party-political question.

• Korean Journal of Social Welfare
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• v.49
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• pp.264-295
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• 2002

This study aims to identify the enactment factors of the National Basic Livelihood Institution in context of policy making process by using Kingdon's policy Stream Model. The findings of this study can be summarized as follows. First, an economic crisis has worsened social problems, and the president Kim Dae-jung recognized these problems as serious and worried about social confusion and polarization. Second, NGOs as like People's Solidarity for Participatory Democracy put efforts into enacting the Act. Also, the president Kim's government faced a series of political crisis and needed political solution including foundation of a new party, which considered social welfare most important. Third, the PSPD designed the Act. But the alternatives of related government ministries were not selected. In conclusion, the National Basic Livelihood Institution was enacted by the combination of these three factors stream. Especially the political stream was strongest.

• Korean journal of communication and information
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• v.77
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• pp.9-35
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• 2016

This research focuses on how political talk shows by Channel A and TV Chosun provoke strong, negative emotions, such as anger or loathing, towards certain parties, politicians and groups only, and tries to explain what's the relation to Korean democracy crisis under the circumstances. Those talk shows by Channel A and TV Chosun, predominantly about anger and loathing towards oppositions, opposition politicians and pro-North Korea people, have contributed to practical exclusion of the citizens from the political process by their imaginary political participation rather than a role as a democratic public sphere, so they have functioned very well in order to sustain the system of Korean democracy as a way of 'the politics of exclusion', and have been retained regardless of their commercial success for the reason. In other words, the Korean democracy has systematically excluded every citizen and amplified ideological conflicts, and in that chaos of excessively produced emotions, has dealt with all the crucial matters using political technology, which is a serious problem. However, for the good of the political power who wants to keep such kind of political system, this became a reason why those Channel A and TV Chosun shows-sensational and politically biased-have survived, and since Channel A and TV Chosun are remarkably functional within the continuance of that political system they can keep being influential in politics.