• Journal of Technology Innovation
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• v.29 no.3
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• pp.1-31
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• 2021

With the growing importance of technology innovation as a key factor for firms' competitive advantage, 'innovation persistence' became also an important research subject. 'Innovation Persistence' is a concept that indicates whether or not firms' innovation activity or performance continues. However, the data used for innovation studies are carried out as cross-sectional surveys in most countries. For this reason, studies dealing with longitudinal aspect of innovation persistence are rare. In particular, there is almost no research on innovation persistence using Korean innovation survey data. This study reviews the concepts and characteristics of innovation persistence based on extant literature, and perform an empirical analysis on the status and features of Korean firms' technology innovation persistence. Based on the data of the Korean Innovation Survey (KIS) conducted every other year from 2012 to 2018, panel data on 3,379 firms which observed multiple times are constructed. As a result, only part of the firms with persistent innovation were observed (for innovation performance 10~12%, for innovation activity 15~17%), and it was found that the persistence of non-innovation was remarkable(about 52~57%). And it was confirmed that the persistence of innovation activities is stronger than that of innovation performance. Besides, some features by sub-types of innovation appeared. Product innovation showed higher persistence than process innovation, and internal R&D also showed higher persistence than joint/external R&D. As a result of additional logit analysis to identify factors, it was found that radical or gradual product innovation is the most influential factor in persisting innovation in the next period. Since the sample selection bias due to a limitations of raw data might exist in the panel data constructed in this study, it should be noted that faulty generalization of the results are not allowed. Nevertheless, this is the first study to examine the technology innovation persistence targeting Korean firms and is expected to be a starting point for follow-up studies. It is anticipated that advanced research results will be drawn through the establishment of official panel data and improved methodologies.

• Journal of the Korean Association of Geographic Information Studies
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• v.22 no.1
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• pp.1-18
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• 2019

This research measured and visualized the spatial dependency and the spatial heterogeneity of the small business in Cheonan-si, Asan-si with $100m{\times}100m$ grids based on global and local spatial autocorrelation. First, we confirmed positive spatial autocorrelation of small business in the research area using Moran's I Index, which is ESDA(Exploratory Spatial Data Analysis). And then, through Getis-Ord $GI{\ast}$, one kind of LISA(Local Indicators of Spatial Association), local patterns of spatial autocorrelation were visualized. These verified that Spatial Regression Model is valid for the location factor analysis on small business commercial buildings. Next, GWR(Geographically Weighted Regression) was used to analyze the spatial relations between the distribution of small business, hourly mobile traffic-based floating population, land use attributes index, residence, commercial building, road networks, and the node of traffic networks. Final six variables were applied and the accessibility to bus stops, afternoon time floating population, and evening time floating population were excluded due to multicollinearity. By this, we demonstrated that GWR is statistically improved compared to OLS. We visualized the spatial influence of the individual variables using the regression coefficients and local coefficients of determinant of the six variables. This research applied the measured population information in a practical way. Reflecting the dynamic information of the urban people using the commercial area. It is different from other studies that performed commercial analysis. Finally, this research has a differentiated advantage over the existing commercial area analysis in that it employed hourly changing commercial service population data and it applied spatial statistical models to micro spatial units. This research proposed new framework for the commercial analysis area analysis.

• Journal of the Korean Institute of Landscape Architecture
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• v.47 no.3
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• pp.1-11
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• 2019

The purpose of this study is to propose a sustainable village-unit urban regeneration plan for the Ewha Mural Village, where mural artists recovered concrete fences to be followed by some residents damaging the mural paintings. Through a review of the existing literature and a preliminary survey, we derived the urban regeneration factors (environmental sustainability, economic sustainability, and social sustainability) applicable at the village level. After an empirical survey on the residents, we tried to identify various problems of the Ewha Mural Village. Residents selected the factors of accessibility, parking management, diversity of industries, creation of new jobs, community participation of residents for the mural village's activation, and stable living spaces. In the case of Ewha Mural Village, physical environment factors for the residents at the time of construction were not considered and the village was mainly planned using budget-based murals. Since then, the inequality of economic benefits intensified the conflicts among the residents. In addition, public benefits, such as establishing new industries and employing outsiders, were not provided, and these facts appear to have led to an unsustainable murals village, in which the murals that are the protagonists of the village revitalization are being destroyed. Therefore, the urban regeneration of Ewha Mural Village should be designed considering a region where some residential areas can be transformed into tourist areas. In addition, it is essential to employ a win-win method to improve the living environment, such as road maintenance, not only partial economic benefits, such as increased land-value, and to increase resident's value as a common asset within the village itself.

• Knowledge Management Research
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• v.22 no.4
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• pp.71-85
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• 2021

The purpose of this study is to find out which artificial intelligence methodology is most suitable for creating a foreign exchange rate prediction model using the indicators of bond market and interest rate market. KTBs and MSBs, which are representative products of the Korea bond market, are sold on a large scale when a risk aversion occurs, and in such cases, the USD/KRW exchange rate often rises. When USD liquidity problems occur in the onshore Korean market, the KRW Cross-Currency Swap price in the interest rate market falls, then it plays as a signal to buy USD/KRW in the foreign exchange market. Considering that the price and movement of products traded in the bond market and interest rate market directly or indirectly affect the foreign exchange market, it may be regarded that there is a close and complementary relationship among the three markets. There have been studies that reveal the relationship and correlation between the bond market, interest rate market, and foreign exchange market, but many exchange rate prediction studies in the past have mainly focused on studies based on macroeconomic indicators such as GDP, current account surplus/deficit, and inflation while active research to predict the exchange rate of the foreign exchange market using artificial intelligence based on the bond market and interest rate market indicators has not been conducted yet. This study uses the bond market and interest rate market indicator, runs artificial neural network suitable for nonlinear data analysis, logistic regression suitable for linear data analysis, and decision tree suitable for nonlinear & linear data analysis, and proves that the artificial neural network is the most suitable methodology for predicting the foreign exchange rates which are nonlinear and times series data. Beyond revealing the simple correlation between the bond market, interest rate market, and foreign exchange market, capturing the trading signals between the three markets to reveal the active correlation and prove the mutual organic movement is not only to provide foreign exchange market traders with a new trading model but also to be expected to contribute to increasing the efficiency and the knowledge management of the entire financial market.

• Journal of International Area Studies (JIAS)
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• v.14 no.2
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• pp.499-524
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• 2010

The purpose of this study is to based on review of theoretical and empirical studies to assess the independence of central banks - the former Socialist republics, including the Russian Federation and Czech, Poland. In addition, the work is expected to clarify whether a link exists between independence and the most important economic indicators such as inflation, economic activity, the budget deficit. And The subject of this study are the formal and actual independence of national banks, as well as limiting factors: political and economic. Background investigation of the problem of independence of central banks from the fact that, according to many economists, it is essential to the successful development of a market economy. The effectiveness of any country's economy due to currency volatility, low inflation, high reliability of the banking system, etc. As far as the independence of monetary regulation contributes to these goals - one of the most actively debated issues in the world of economic theory and practice for a long time. The issue of central bank independence is extremely important for Russia, Czech, Poland. In the near future to the central bank has important tasks, among which are the transition to inflation targeting in the rejection of significant intervention in the foreign exchange market, as well as improving the sustainability of the national banking system. Transparency and independence of the Bank of Russia, Czech Republic, Poland, in my view, should be an important factor in achieving these goals. The countries of Czech Republic, Poland have already made a number of steps to bring the status of their banks to the European standards. Many other developing countries are also in the process of reforming their central banks and the improving conditions of their functioning. However, despite the fact that as a model for reform used by the central banks of countries with developed market economies, central banks in developing countries are still yet deprived of the legal, economic and political independence. A different situation exists in transition space. Because of significant differences in the views of the authorities in transition republics at the necessary level of independence of central banks and the exchange rate and monetary policy reform of monetary management in these countries led to different results.

• Asia Marketing Journal
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• v.15 no.4
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• pp.131-159
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• 2014

Corporate rebranding has been evident in the qualitative corporate rebranding studies as an imposed organizational change that induces mixed reactions and ambivalent attitudes among consumers. Corporate rebranding for the established and familiar corporate brands leads to more ambivalent attitudes as these companies represent larger targets for disparaging information. Consumers are found to hold both positive and negative reactions toward companies and brands that they are familiar with. Nevertheless, the imposed change assumption and ambivalent attitude, in particular corporate rebranding, have never been widely explored in the quantitative corporate rebranding studies. This paper aims to provide a comprehensive empirical examination of the ambivalence towards rebrandingrebranded brand attitude-purchase intention relationships. The author proposes that corporate rebranding for familiar corporate brands is a double-edged sword that not only raises the expectation for better performance, but also induces conflicted and ambivalent attitudes among consumers. These consumers' ambivalent attitudes are influenced by both the parent brands-related and general attitude factors which further affect their rebranded brand attitude and purchase intention. A total of 156 useable questionnaires were collected from Malaysian working adults; and two established Malaysian airfreight operators were utilized as the focal parent brands. The study found a significant impact of prior parent brand attitudes on ambivalence towards rebranding (ATR). The parent brand attitudes served as anchors in influencing how new information was processed (Mazaheri et al., 2011; Sherif & Hovland, 1961) and closely related to behavioral intention (Prislin & Quellete, 1996). The ambivalent attitudes experienced were higher when individuals held both positive and negative reactions toward the parent brands. Consumers also held higher ambivalent attitudes when they preferred one of the parent brands; while disliked the other brand. The study also found significant relationships between the lead brand and the rebranded brand attitude; and between the partner brands and ATR. The familiar but controversial partner brand contributed significantly to the ambivalent attitudes experienced; while the more established lead brand had significant impact on the rebranded brand attitude. The lead and partner brands, though both familiar, represented different meanings to consumers. The author attributed these results to the prior parent brand attitudes, the skepticism and their general ambivalence toward the corporate rebranding. Both general attitude factors (i.e. skepticism and general ambivalence towards rebranding) were found to have significant positive impacts on ATR. Skeptical individuals questioned the possibility of a successful rebranding (Chang, 2011) and were more careful with their evaluations toward 'too god to be true' or 'made in heaven' pair of companies. The embedded general ambivalent attitudes that people held toward rebranding could be triggered from the associative network by the ambiguous situation (Prislin & Quellete, 1996). In addition, the ambivalent rebranded brand attitude was found to lower down purchase intention, supporting Hanze (2001), Lavine (2001) and van Harreveld et al. (2009)'s studies. Ambivalent individuals were found to prefer delay decision making by choosing around the mid-ranged points in 'willingness to buy' scale. The study provides several marketing implications. Ambivalence management is proven to be important to corporate rebranding to minimize the ambivalent attitudes experienced. This could be done by carefully controlling the parent brands-related and general attitude factors. The high ambivalent individuals are less confident with their own conflicted attitudes and are motivated to get rid of the psychological discomfort caused by these conflicted attitudes (Bell & Esses, 2002; Lau-Gesk, 2005; van Harreveld et al., 2009). They tend to process information more deeply (Jonas et al., 1997; Maio et al., 2000; Wood et al., 1985) and pay more attention to message that provides convincible arguments. Providing strong, favorable and convincible message is hence effective in alleviating consumers' ambivalent attitudes. In addition, brand name heuristic could be utilized because the rebranding strategy sends important signal to consumers about the changes that happen or going to happen. The ambivalent individuals will pay attention to both brand name heuristic and rebranding message in their effort to alleviate the psychological discomfort caused by ambivalent attitudes. The findings also provide insights to Malaysian and airline operators for a better planning and implementation of corporate rebranding exercise.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.185-196
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• 2023

This paper investigates the effects of entrepreneurs' cognitive biases on business opportunity evaluation, given their strong entrepreneurial spirit, which is characterized by innovation, proactivity, and risk-taking. When making decisions related to business activities, entrepreneurs typically make rational judgments based on their knowledge, experience, and the advice of external experts. However, in situations of extreme stress or when quick decisions are required, they often rely on heuristics based on their cognitive biases. In particular, we often see cases where entrepreneurs fail because they make decisions based on heuristics in the process of evaluating and selecting new business opportunities that are planned to guarantee the growth and sustainability of their companies. This study was conducted in response to the need for research to clarify the effects of entrepreneurs' cognitive biases on new business opportunity evaluation, given that the cognitive biases of entrepreneurs, which are formed by repeated successful experiences, can sometimes lead to business failure. Although there have been many studies on the effects of cognitive biases on entrepreneurship and opportunity evaluation among university students and general people who aspire to start a business, there have been few studies that have clarified the relationship between cognitive biases and social networks among entrepreneurs. In contrast to previous studies, this study conducted empirical surveys of entrepreneurs only, and also conducted research on the relationship with social networks. For the study, a survey was conducted using a parallel survey method using online mobile surveys and self-report questionnaires from 150 entrepreneurs of small and medium-sized enterprises. The results of the study showed that 'overconfidence' and 'illusion of control', among the independent variables of entrepreneurs' cognitive biases, had a statistically significant positive(+) effect on business opportunity evaluation. In addition, it was confirmed that the moderating variable, social network, moderates the effect of overconfidence on business opportunity evaluation. This study showed that entrepreneurs' cognitive biases play a role in the process of evaluating and selecting new business opportunities, and that social networks play a role in moderating the structural relationship between entrepreneurs' cognitive biases and business opportunity evaluation. This study is expected to be of great help not only to entrepreneurs, but also to entrepreneur education and policy making, by showing how entrepreneurs can use cognitive biases in a positive way and the influence of social networks.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.1-16
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• 2022

Although start-up is a key national strategy to increase national competitiveness and create employment, the survival rate of start-ups has not improved significantly. This is an important reason for the inability to provide timely and appropriate support to startups, which are in the early stages of start-up, due to the unique limitations of existing start-up support institutions and investors. The relatively recent accelerator is attracting attention as a subject of solving the above problems through professional incubation and investment. However, there are only a few empirical studies on investment determinants that affect the survival and success of accelerators, and there is a lack of theoretical evidence. Accordingly, in previous studies, 12 investment determinants were derived from a static, strategic, and dynamic perspective as accelerator investment determinants based on a business model innovation framework. This study subdivided the accelerator investment determinants derived through previous studies into 21 and analyzed the importance and priority of each factor using AHP (Analytic Hierarchy Process) analysis technique for domestic accelerator investment experts. As a result of the analysis, the top factors of importance of accelerator investment determinants were in the order of 'human resources', 'customer and market', 'intellectual resources', and 'entrepreneur's ability to realize opportunities'. It can be seen that the accelerator considers the core competencies of startups to implement solutions as the most important factor when making startup investment decisions. It was also confirmed that accelerators are strategic to create a clear value proposition and differentiated market position based on the core competitiveness of startups, and that the core value delivery method prefers a market-oriented business model and recognizes entrepreneurs's innovation capability is an important factor to realize a business model with limited resources in a rapidly changing market. This study is of academic significance in that it analyzes the importance and priority of accelerator investment determinants through demonstration as a follow-up study on accelerator investment determinants derived based on business model innovation theory that reflects the nature, goals, and major activities of accelerator investment. In addition, it is of practical value as it contributes to revitalizing the domestic startup investment ecosystem by providing accelerators with theoretical grounds for investment decisions and specific information on detailed investment determinants.

• Asia pacific journal of information systems
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• v.20 no.3
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• pp.139-166
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• 2010

The supply chain management (SCM) systems have emerged as strong managerial tools for manufacturing firms in enhancing competitive strength. Despite of large investments in the SCM systems, many companies are not fully realizing the promised benefits from the systems. A review of literature on adoption, implementation and success factor of IOS (inter-organization systems), EDI (electronic data interchange) systems, shows that this issue has been examined from multiple theoretic perspectives. And many researchers have attempted to identify the factors which influence the success of system implementation. However, the existing studies have two drawbacks in revealing the determinants of systems implementation success. First, previous researches raise questions as to the appropriateness of research subjects selected. Most SCM systems are operating in the form of private industrial networks, where the participants of the systems consist of two distinct groups: focus companies and vendors. The focus companies are the primary actors in developing and operating the systems, while vendors are passive participants which are connected to the system in order to supply raw materials and parts to the focus companies. Under the circumstance, there are three ways in selecting the research subjects; focus companies only, vendors only, or two parties grouped together. It is hard to find researches that use the focus companies exclusively as the subjects probably due to the insufficient sample size for statistic analysis. Most researches have been conducted using the data collected from both groups. We argue that the SCM success factors cannot be correctly indentified in this case. The focus companies and the vendors are in different positions in many areas regarding the system implementation: firm size, managerial resources, bargaining power, organizational maturity, and etc. There are no obvious reasons to believe that the success factors of the two groups are identical. Grouping the two groups also raises questions on measuring the system success. The benefits from utilizing the systems may not be commonly distributed to the two groups. One group's benefits might be realized at the expenses of the other group considering the situation where vendors participating in SCM systems are under continuous pressures from the focus companies with respect to prices, quality, and delivery time. Therefore, by combining the system outcomes of both groups we cannot measure the system benefits obtained by each group correctly. Second, the measures of system success adopted in the previous researches have shortcoming in measuring the SCM success. User satisfaction, system utilization, and user attitudes toward the systems are most commonly used success measures in the existing studies. These measures have been developed as proxy variables in the studies of decision support systems (DSS) where the contribution of the systems to the organization performance is very difficult to measure. Unlike the DSS, the SCM systems have more specific goals, such as cost saving, inventory reduction, quality improvement, rapid time, and higher customer service. We maintain that more specific measures can be developed instead of proxy variables in order to measure the system benefits correctly. The purpose of this study is to find the determinants of SCM systems success in the perspective of vendor companies. In developing the research model, we have focused on selecting the success factors appropriate for the vendors through reviewing past researches and on developing more accurate success measures. The variables can be classified into following: technological, organizational, and environmental factors on the basis of TOE (Technology-Organization-Environment) framework. The model consists of three independent variables (competition intensity, top management support, and information system maturity), one mediating variable (collaboration), one moderating variable (government support), and a dependent variable (system success). The systems success measures have been developed to reflect the operational benefits of the SCM systems; improvement in planning and analysis capabilities, faster throughput, cost reduction, task integration, and improved product and customer service. The model has been validated using the survey data collected from 122 vendors participating in the SCM systems in Korea. To test for mediation, one should estimate the hierarchical regression analysis on the collaboration. And moderating effect analysis should estimate the moderated multiple regression, examines the effect of the government support. The result shows that information system maturity and top management support are the most important determinants of SCM system success. Supply chain technologies that standardize data formats and enhance information sharing may be adopted by supply chain leader organization because of the influence of focal company in the private industrial networks in order to streamline transactions and improve inter-organization communication. Specially, the need to develop and sustain an information system maturity will provide the focus and purpose to successfully overcome information system obstacles and resistance to innovation diffusion within the supply chain network organization. The support of top management will help focus efforts toward the realization of inter-organizational benefits and lend credibility to functional managers responsible for its implementation. The active involvement, vision, and direction of high level executives provide the impetus needed to sustain the implementation of SCM. The quality of collaboration relationships also is positively related to outcome variable. Collaboration variable is found to have a mediation effect between on influencing factors and implementation success. Higher levels of inter-organizational collaboration behaviors such as shared planning and flexibility in coordinating activities were found to be strongly linked to the vendors trust in the supply chain network. Government support moderates the effect of the IS maturity, competitive intensity, top management support on collaboration and implementation success of SCM. In general, the vendor companies face substantially greater risks in SCM implementation than the larger companies do because of severe constraints on financial and human resources and limited education on SCM systems. Besides resources, Vendors generally lack computer experience and do not have sufficient internal SCM expertise. For these reasons, government supports may establish requirements for firms doing business with the government or provide incentives to adopt, implementation SCM or practices. Government support provides significant improvements in implementation success of SCM when IS maturity, competitive intensity, top management support and collaboration are low. The environmental characteristic of competition intensity has no direct effect on vendor perspective of SCM system success. But, vendors facing above average competition intensity will have a greater need for changing technology. This suggests that companies trying to implement SCM systems should set up compatible supply chain networks and a high-quality collaboration relationship for implementation and performance.

• Journal of Distribution Research
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• v.14 no.2
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• pp.67-95
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• 2009

The purpose of this study is to empirically examine the transference of trust process, an important factor to consumer's purchase decision-making. Even though several researchers have discussed the trust transference process, there is no research related to this concept. Specifically we have focused on the transference of trust from the retailer to low involvement private label (PL) products. PL products were chosen as transference of trust occurs under ambiguity due to lack of information about the product and their manufacturer. PL products provide relatively less information than national brand (NB) products. In addition, retailers have been rapidly expanding their PL product categories. To identify the theoretical and empirical limitations of prior studies, we discuss several theories explaining the transference of trust: 'Balance theory' and 'availability heuristic' in transference of cognitive trust; 'affective transference' and 'affect as information' in transference of affective trust. An empirical test was performed. A self completion questionnaire was developed and administered to a convenience sample of PL users. 206 usable questionnaire were received. The results show that the transference of trust plays a mediating role linking the retailer to the manufacturer and to the product. Although our model, which included the transference process of trust as a mediating effect, did not improve the competitive model, the coefficients of the respective paths were found to be better. This study confirms the transference of cognitive trust from the retailer to both the manufacturer and the product, but not for affective trust. We offer the explanation that PL products may tend to have affective trust resulting from brand familiarity but not to their PL manufacturers.