• Asia Marketing Journal
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• v.12 no.2
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• pp.1-25
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• 2010

Motion pictures are so typical experience goods that consumers tend to look for more credible information. Hence, movie audiences consider movie viewers' reviews more important than the information provided by the film distributor. Recently many portal sites allow consumers to post their reviews and opinions so that other people check the number of consumer reviews and scores before going to the theater. There are a few previous researches studying the electronic word of mouth(eWOM) effect in the movie industry. They found that the volume of eWOM influenced the revenue of the movie significantly but the valence of eWOM did not affect it much (Liu 2006). The goal of our research is also to investigate the eWOM effects in general. But our research is different from the previous studies in several aspects. First, we study the eWOM effect in Korean movie industry. In other words, we would like to check whether we can generalize the results of the previous research across countries. The similar econometric models are applied to Korean movie data that include 746,282 consumer reviews on 439 movies. Our results show that both the valence(RATING) and the volume(LNMSG) of the eWOM influence weekly movie revenues. This result is different from the previous research findings that the volume only influences the revenue. We conjectured that the difference of self construal between Asian and American culture may explain this difference (Kitayama 1991). Asians including Koreans have more interdependent self construal than American, so that they are easily affected by other people's thought and suggestion. Hence, the valence of the eWOM affects Koreans' choice of the movie. Second, we find the critical defect of the previous eWOM models and, hence, attempt to correct it. The previous eWOM model assumes that the volume of eWOM (LNMSG) is an independent variable affecting the movie revenue (LNREV). However, the revenue can influence the volume of the eWOM. We think that treating the volume of eWOM as an independent variable a priori is too restrictive. In order to remedy this problem, we employed a simultaneous equation in which the movie revenue and the volume of the eWOM can affect each other. That is, our eWOM model assumes that the revenue (LNREV) and the volume of eWOM (LNMSG) have endogenous relationship where they influence each other. The results from this simultaneous equation model showed that the movie revenue and the eWOM volume interact each other. The movie revenue influences the eWOM volume for the entire 8 weeks. The reverse effect is more complex. Both the volume and the valence of eWOM affect the revenue in the first week, but only the volume affect the revenue for the rest of the weeks. In the first week, consumers may be curious about the movie and look for various kinds of information they can trust, so that they use the both the quantity and quality of consumer reviews. But from the second week, the quality of the eWOM only affects the movie revenue, implying that the review ratings are more important than the number of reviews. Third, our results show that the ratings by professional critics (CRATING) had negative effect to the weekly movie revenue (LNREV). Professional critics often give low ratings to the blockbuster movies that do not have much cinematic quality. Experienced audiences who watch the movie for fun do not trust the professionals' ratings and, hence, tend to go for the low-rated movies by them. In summary, applied to the Korean movie ratings data and employing a simultaneous model, our results are different from the previous eWOM studies: 1) Koreans (or Asians) care about the others' evaluation quality more than quantity, 2) The volume of eWOM is not the cause but the result of the revenue, 3) Professional reviews can give the negative effect to the movie revenue.

• Food Science of Animal Resources
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• v.33 no.2
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• pp.244-250
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• 2013

The objective of this study was to investigate the effects of marinade condition (injection and tumbling process) on the physicochemical and sensory characteristics of marinade steak. The pH of marinade steaks was in the range of 5.26-5.51, with the highest level in the injection/tumbling (IT) treatment, while injection processes tended to result in higher pH levels (p<0.05). Salinity and sweetness contents were determined to be the highest in the IT treatment. Cooking loss was highest in the control (Immersion, 6 hr), but there were no significant differences between control and injection/tumbling, injection/ vacuum/tumbling (IVT), and vacuum/tumbling treatments. Hardness was in the range of 8.01-13.99 kg, with the lowest level observed for the IVT treatment, and the highest level observed for the control. However, there were no significant differences in hardness between injection process treatments and non-injection process treatments. Therefore, injection and tumbling processes have a similar effect on meat tenderness. In the sensory evaluation, there was a significant difference between the control, injection and tumbling process treatments in terms of tenderness, texture preference and taste. These results suggest that injection and tumbling processes improved tenderness, product yield and sensory preference in meat products.

• Economic and Environmental Geology
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• v.43 no.6
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• pp.625-636
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• 2010

The geophysical characteristics and geological structure of the northeastern part of the Ulleung Basin were investigated from interpretation of geophysical data including gravity, magnetic, bathymetry data, and seismic data. Relative correction was applied to reduce errors between sets of gravity and magnetic data, obtained at different times and by different equipments. The northeastern margin of the Ulleung Basin is characterized by complicated morphology consisting of volcanic islands (Ulleungdo and Dokdo), the Dokdo seamounts, and a deep pathway (Korea Gap) with the maximum depth of -2500 m. Free-air anomalies generally reflect the topography effect. There are high anomalies over the volcanic islands and the Dokdo seamounts. Except local anomalous zones of volcanic edifices, the gradual increasing of the Bouguer anomalies from the Oki Bank toward the Ulleung Basin and the Korea Gap is related to higher mantle level and denser crust in the central of the Ulleung Basin. Complicated magnetic anomalies in the study area occur over volcanic islands and seamounts. The power spectrum analysis of the Bouguer anomalies indicates that the depth to the averaged Moho discontinuity is -16.1 km. The inversion of the Bouguer anomaly shows that the Moho depth under the Korea Gap is about -16~17 km and the Moho depths towards the Oki Bank and the northwestern part of Ulleung Island are gradually deeper. The inversion result suggests that the crust of the Ulleung Basin is thicker than normal oceanic crusts. The result of 20 gravity modeling is in good agreement with the results of the power spectrum analysis and the inversion of the Bouguer anomaly. Except the volcanic edifices, the main pattern of magnetization distribution shows lineation in NE-SW. The inversion results, the 2D gravity modeling, and the magnetization distribution support possible NE-SW spreading of the Ulleung Basin proposed by other papers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.129-144
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• 2014

This study is to examine the effect of mutualistic benevolence, altruistic benevolence, and communication on affective commitment, calculative commitment, and switching intentions and investigate how two commitment dimensions play mediating roles between two benevolence constructs and communication, and switching intentions. For these purposes the author developed a structural model which consists of several constructs. In this model, benevolence factor that consists of mutualistic benevolence and altruistic benevolence, and communication were proposed to affect two commitment constructs and result in, increase switching intentions. Thus, two commitment constructs(e.g., affective and calculative commitment) were proposed as core mediating variables between mutualistic benevolence, altruistic benevolence, and communication, and switching intentions. The data were collected from 210 automobile parts buyers and were analyzed using frequency, reliability, and confirmatory factor analysis and SEM (structural equation model) with SPSS/WIN 20.0 and AMOS 20.0. The data were analyzed with structural equation modeling with AMOS 20.0 and SPSS Win/PC 20.0. The result of the overall model analysis appeared as follows: ${\chi}2=224.885$, d.f=123(${\chi}2/df=1.828$), p=0.000, GFI=.898, AGFI=.859, IFI=.967, NFI=.930, TLI=.958, RMSEA=.063, CFI=.966. Since the result of the overall model analysis demonstrated a good fit, we could further analyze our data. The findings can be summarized as follows: According to structural equation modeling analysis, firstly, mutualistic benevolence has direct effects on calculate commitment and affective commitment. Secondly, altruistic benevolence has a positively direct effect on calculate commitment. Thirdly, communication has a statistically direct effect on affective commitment. Fourthly, calculative commitment has direct effects on affective commitment and switching intentions. Lastly, affective commitment has a direct effect on switching intentions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.111-122
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• 2016

Support and efforts are being strengthened at the national level for entrepreneurial activities that are expected to revitalize our economy. Generally, according to the previous studies, it is known that entrepreneurship positively affects economic growth and the reduction of unemployment rate through employment creation. The analysis of the impact of entrepreneurial activities on economic growth and job creation is mainly based on national comparative analysis. In this paper, however, the impact of start-up activities in the Busan metropolitan city on regional economic growth and employment improvement. In this study, the dummy variables were assigned to firms within three years, five years, and ten years after start-up according to the period since the start-up of the firm. As a result of the empirical analysis, the value of dummy variable of the start - up firms was found to be significant in the analysis of the sales growth rate as the dependent variable according to the preceding study by Evans(1987). Therefore, it can be seen that the growth rate of the start - up company is higher than that of the other companies and it is positive for the regional economic growth. In addition, the coefficient of the dummy variable decreases from the enterprise analysis to the latter within three years, five years, and ten years after the start-up, and confirms that the coefficient of the firm's start-up years has a negative value. I could see more clearly. On the other hand, in the analysis of the effect of start-up firms on unemployment rate reduction, the growth rate of regular workers was higher than that of other firms. This suggests that it positively affects the reduction of the unemployment rate in the region. In addition, in the dynamic analysis using the Almon estimation formula and the Koyck model, the effect of log-transformed net start-up firms on the growth rate of new workers is very significant. As a result of the above model, It is reaffirmed that start-up activity has a positive effect on employment growth.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.89-119
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• 1992

This paper purports to analyze the economic rationale of compensating balance requirements and its impact on money supply. This practice has recently been severely criticized for artificially increasing the money supply and, therefore, limiting the nation's aggregate lending policy under the tight constraint of the given money supply target. A review of the existing literature implies that compensating balance requirements is a banking practice which leads to corrections in the distortion of financial resource allocation due to the imperfection of financial market stemming from asymmetric information and/or financial regulations on deposit and lending rates. Therefore, the economic rationale of this practice is deemed to improve the efficiency of financial resource allocation. On the other hand, the macroeconomic impact of compensating balance requirements on the money supply depends on the impact on the money multiplier, which in turn depends on the desired ratio of deposit that people wish to maintain on the money borrowed from the banking system, and on the desired reserve ratio that the banking system would like to hold for deposit withdrawal. If the compensating balance requirements could increase the desired ratio of deposit to borrowing (bank lending), it will increase the available amount of total reserve within the banking system and, in turn, the money multiplier. However, this channel has not been fully analyzed in the literature, and the direction of the effect is ambiguous. If the practice could reduce the turn-over rate of deposit and, thereby, reduce the desired reserve ratio of the banking system, then it will also increase the money multiplier. While this channel operates unambiguously toward increasing the money multiplier, this effect will be limited by the extent that the banking system holds the excess reserve over the required reserve because the excess reserve will set the maximum amount for the desired reserve to fall. This paper tries to determine the effect on the money supply by empirically estimating the multiplier and the desired ratio of deposit to lending equations as functions of the ratio of compensating balance to the related lending, which is not observable and is estimated for the regression purpose. The results suggest that the effect of compensating balance requirements on the money supply in Korea does not exist or is very tenuous even if it could operate. Therefore, this paper concludes that the well publicized policy of cross cancelling the compensating balance and the related lending will not be effective at controlling the money supply and increasing the amount of loans without expanding the money supply.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.55-73
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• 2024

Unicorn companies are attracting attention around the world as they are recognized for their high corporate value in a short period of time as an innovative business models. Their growth process presents good lessons for the startup ecosystem and have a positive impact on national economic development and job creation. However, previous studies related to unicorn companies are focused on 'event studies' and 'case studies' such as characteristics of founders, environmental factors, business models and success/failure cases of companies already recognized as unicorns rather than a multifaceted approach. The occurrence of unicorn companies and Macroscopic analysis of related factors is lacking. Against this background, this study are considering the characteristics of unicorns examined through previous research and the current status unicorns with a high proportion of technology companies, the purpose was to analyze the impact of the country's technological competitiveness, such as 'technology human resource index', 'R&D index', and 'technology infrastructure index', on the increase in unicorn companies. For statistical analysis, data published by various international organizations, the Bank of Korea, and Statistics Korea from 2017 to 2020 and unicorn company data compiled by CB Insights were used as panel data for 44 countries to be tested by multiple regression analysis. As a result of the study, it was confirmed that the number of science majors had a positive (+) effect on the increase of unicorn companies in the case of technology human resource index, and in the case of R&D index, the total amount of R&D investment had a positive (+) effect on the increase of unicorn companies, while the number of Triad Patents Families and the number of scientific and technological papers published had a negative (-) effect on the increase of unicorn companies. Finally, in the case of technology infrastructure index, it was confirmed that the number of the world's 500th-ranked universities had a positive (+) effect on the increase of unicorn companies. This study is the first to reveal the causal relationship between national technological competitiveness and unicorn company growth based on country-specific and time-series empirical data, which were insufficiently covered in previous studies. and compared to the UN's ranking of the global industrial competitiveness index and the OECD's total R&D investment by country, Korea is considered to have technological and growth potential, while the number of unicorn companies driving growth as leaders of the innovative economy is relatively small, so the research results can be used when establishing policies to discover and foster unicorn companies in the future.

• Information Systems Review
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• v.17 no.2
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• pp.219-238
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• 2015

As Internet and IT have been developed, people have been exposed to large amounts of information. So, many online information providers recommend relevant information to users to relieve an information overload. However, information recommendation which is based on the taste and preference of a user can lead to a problem of unbalanced information consumption. Prior research about online information has not investigated the side-effect of a recommendation function. This research suggests IT solutions for alleviating unbalanced information consumption behavior. Based on adaptation level theory and expectancy theory, we proposed self-reference point diagnosticity interface and social-reference point diagnosticity interface to help people to consume information following their own information consuming goal. We hypothesized positive impacts of these two interfaces on the self-awareness about information consuming pattern. And we predicted that self-awareness has a positive impact on the motivation and actual behavior to conform the ideal information consuming pattern which the user sets. Laboratory experiment was executed as a research method. As a result, the self-reference diagnosticity interface leaded to higher self-awareness and mitigated the unbalanced information consumption. But, the social-reference diagnosticity interface and the motivation to improve the information consuming behavior had no significant results. Academic and practical implications are discussed.

• Journal of the Korean Association of Geographic Information Studies
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• v.18 no.4
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• pp.14-30
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• 2015

This paper attempted to analyze the hydraulic effects that the dredging can take as an alternative to reduce possible damages of flooding due to the overflow of river levee in meandering rivers, where riverbed aggradation, seepage and erosion may occur. In order to make a hydraulic analysis in a section of meandering rivers, a two-dimensional hydraulic analysis model, RMA-2, was selected. The GIS was applied to construct two-dimensional finite element grids to consider the hydraulic conditions before and after dredging. The water surface elevations, depths, velocities, and tractive forces were compared before and after the dredging. The difference of water surface elevation between the inside and outside of river was turned out to be the maximum value of 0.58m under the design flood condition. It could be evaluated that the tractive force at the bank decreased about 42 to 67% on average for all the sections. These results could give valuable information that the dredging of the stream channel at the meandering sections decreased the risk of overflow, seepage and erosion of the banks. The methodologies given in this study will contribute to mitigating the flood damages in the surrounding farmlands.

• Journal of Environmental Health Sciences
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• v.43 no.1
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• pp.64-70
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• 2017

Objectives: The purpose of this study is to examine the effect of the raise of cigarette prices by KRW 2,000 at the beginning of 2015 on the change in smoking behavior among male office workers, and to analyze the correlation of various factors including their work behaviors and socio-economic factors with their smoking rate. Methods: In this research, a follow-up observation panel was constituted with 420 smokers as targets from among male office workers at a bank located in Daegu, South Korea. A cross-analysis and ANOVA analysis were carried out in order to examine whether changes in smoking status, amount of smoking, stop-smoking motivation, and reasons for smoking cessation failure after the passage of time since the cigarette price hike were statistically significant. The level of statistical significance was P < 0.05. Results: After the cigarette price hike, among the 420 smokers who were the target of the panel the rate of smoking cessation declined at the time-point of the survey to 15.5%, 12.4%, 8.5%, and 5.7% after one month, three months, six months, and 12 months, respectively. As a result of a follow-up observation of 65 smokers who stopped smoking immediately after the price hike, the actual non-smoking rate declined to 15.5%, 8.3%, 4.4%, and 3.1% after one month, three months, six months, and 12 months, respectively. One (1) year after the cigarette price hike, the non-smoking rate among the 420 smokers reached as low as 3.1% (13 persons). The most important reason for the failure of the attempts to quit smoking was stress for more than 60% of the smokers who attempted to stop. Conclusions: It seems that a powerful anti-smoking policy by the state targeting the nation's workers is necessary. For companies, mediation for workers' job stress can become a strategy for the success of non-smoking attempts. The government seems to require a practical policy to reduce the smoking rate by actively carrying out social, economic, and scientific research to come up with a reduction method for the cigarette hazard, an effective price hike policy, and other non-price policies.