The impacts of technology platform openness on application developers’ intention to continuously use a platform: From an ecosystem perspective

With the development of information and communication technologies and Internet of things, the open-platform strategy has come into the spotlight. Opening a platform allows external firms or individuals to enter the platform ecosystem without any restrictions. A platform connects diverse products and services, and thus the aim of this study is to simultaneously investigate the effect of platform openness on multiple groups of products and services from an ecosystem perspective. This study specifically focuses on the manner in which Android's openness to both applications and devices influences the intentions of application developers to continuously participate in Android platform through the structural equation modeling. First, openness to applications directly influences the participation intention of application developers as well as the user base of the platform. An increased user base leads to the enhanced participation intention of application developers through indirect network effects. Second, openness to devices contributes to increasing the user base, which in turn, positively influences the intention of application developers. Openness to a device also incurs coordination costs between applications and devices, and this has a partially negative effect on the participation of application developers. The contributions of the study include presenting an analytical model that offers a comprehensive understanding of the mechanisms of platform openness to external developers.     

Corporate Relations with Environmental Organizations Represented by Hyperlinks on the <Emphasis Type="Italic">Fortune</Emphasis> Global 500 Companies’ Websites

This study investigates corporate relationships with environmental organizations by examining hyperlinks in the corporate environmental responsibility (CER) sections of the Fortune 2008 Global 500 corporate websites. It is assumed that hyperlinked organizations either represent their current inter-organizational relationship or create symbolic relationships among organizations. Results show that Asian companies have fewer hyperlink relations with other organizations compared with those in North America and Western Europe. Network analysis also confirms that U.S. companies are explicitly connected with stakeholders for CER practices, and governmental organizations have a relatively central role in the global CER system. Nonprofit organizations are the most frequently hyperlinked with Fortune Global 500 corporations.     

Mean Reversion of Short-Horizon Stock Returns: Asymmetry Property

In this paper, we explore nonlinearity inherent in short-horizon return dynamics, which is characterized by an asymmetric mean-reverting property. Over the period of 1962:07–2003:12, both daily and weekly returns of three market indexes and individual stock returns exhibit a strong asymmetric reverting pattern in which a negative return reverts more quickly, with a greater reverting magnitude, than positive returns revert to negative returns. The observed asymmetric reverting pattern is not justified under the positive relationship between future volatility and risk premium, which is a key presumption in the time-varying rational expectation hypothesis. The asymmetric reverting behavior of stock returns explored by this paper corroborates the argument for the relative performance of “winner' and “loser' stocks that has been documented by contrarian literature. JEL Classification: 14, C40, C51     

The Roles Incubator Organizations in Hi-Tech Venture Creation in Korea

In order to examine the roles of incubator organizations (places where entrepreneurs work before they start their ventures), ten high-tech venture founders were interviewed. Based on these interviews, their experience at incubator organizations and subsequent performance were analyzed, and 11 hypotheses regarding the characteristics of incubator organizations were formulated. The hypotheses are: high-tech venture are more likely to succeed if their founders have had the opportunity to prepare a business plan, to develop the prototype of a new product, to be acquainted with other disciplines, to work together as a team, and to acquire various kind of capabilities such as market-specific know-how, entrepreneurial skills and financing know-how at incubator organizations. However, it is hypothesized that the opportunity to acquire technological know-how and traditional managerial skills at incubator organizations are not positively correlated with venture success. The technological know-how and managerial skills could be regarded as a necessary but not sufficient condition for successful ventures. As the first study about Korean incubator organizations, the cases and the discussion of the hypotheses provide insights and implications for future studies.     

The fashion‐conscious behaviours of mature female consumers

Under‐appreciation of mature consumers as a numerous and comparatively wealthy market segment has resulted in not only lost revenues for business, but also lost consumption and service opportunities for the elderly. In response to expressed needs for more research into actual and desired consumption by older consumers, this study examined the apparel and shopping preferences of mature women in America. Independent living residents were surveyed concerning fashion consciousness, fashion information sources and shopping behaviours. Young and mature consumers’ reactions to female apparel ensembles were compared. Mature subjects purchased apparel for pleasure or need, but less for conformity. Decisions were influenced more by fit and comfort than by fashion, despite suggestions that dressing stylishly was important. New fashions were encountered via catalogue illustrations, social gatherings and window displays. Subjects high in fashion consciousness had greater financial and social involvement with fashion, greater chronological‐to‐cognitive age differences and larger clothing budgets. Young and mature consumers’ responses to apparel illustrations differed significantly. As the mature market expands, attention to age‐divergent definitions of fashion (such as those based upon admiration of comfort) will determine the success of apparel businesses. Assessment of cognitive age will facilitate identification of those mature consumers most predisposed toward fashion consumption.     

Do board directors affect the export propensity and export performance of Korean firms? A resource dependence perspective

Using the Heckman two-stage method, this study empirically investigates whether board directors’ work experience in government and multinational corporations (MNCs), as well as the proportion of outside directors affects export propensity and export performance based on a sample of Korean firms. We find that the Korean firms with former government officials on the board are more likely to engage in exporting, although there is no empirical evidence supporting export performance. The findings also show that firms with former MNC employees on the board demonstrate higher levels of export propensity and export performance. Similarly, firms with a higher proportion of outside directors exhibit a higher level of export propensity and export performance. These findings highlight the importance of the board of directors in Korean firms’ first stage of internationalization and provide new insights into which type of board members can benefit their firms in terms of export propensity and export performance.     

The relationship between corporate social responsibility,financial misstatements and SEC enforcement actions

This study explores the relationship between corporate social responsibility (CSR), financial misstatements and SEC enforcement actions. We find that firms with higher CSR are less likely to receive SEC enforcement actions for financial misstatements. Drawing on insights from stakeholder theory and the reputational literature, we identify two channels underpinning this relationship: (i) firms with higher CSR are less likely to engage in financial misstatements and (ii) the reputational effect of CSR reduces the likelihood of SEC enforcement actions. We find empirical evidence consistent with both channels.     

Transparency and currency crises

The role transparency plays in the prevention of currency crises is widely acknowledged. Nevertheless, the relationship between transparency and currency crises has rarely been subjected to systematic cross‐national scrutiny. This paper attempts to explore the effect of transparency on currency crises by focusing on a specific dimension of transparency: the public dissemination of aggregate economic data by governments. My analysis provides strong evidence that greater transparency is associated with a lower likelihood of currency crises, regardless of economic conditions. When I add economic and political determinants of currency crises, the estimate of transparency remains unaltered in magnitude or statistical significance.     

How you see yourself influences your color preference: Effects of self-construal on evaluations of color combinations

The present study examines the role of self-construal in the preference for analogous versus complementary color combinations. The majority of previous research on color has been limited to exploration of single colors. However, designers and marketers often use a mix of colors whose harmony must be taken into consideration, which includes choosing whether to use colors placed next to each other on the color wheel (analogous combination) or to combine colors that are opposite each other (complementary combination). The current study proposes that self-construal influences the perception of and preference for color combinations. Individuals with interdependent self-construals tend to focus on relational similarity and value harmony, whereas individuals with independent self-construals tend to view objects as discrete and disconnected. Accordingly, the authors posited that individuals with interdependent self-construals would be more sensitive to the relationship between two colors and perceive analogous colors as more harmonious, thus preferring brands and products featuring analogous colors to those featuring complementary colors. Contrariwise, individuals with independent self-construals would display indifference in this regard. The hypotheses were confirmed in four studies employing various colors to form analogous and complementary color combinations.