Understanding consumption in social virtual worlds: A sensemaking perspective on the consumption of virtual goods

Virtual consumption involves consuming virtual goods in cyberspace. Virtual consumption activities are evolving into an essential activity in social virtual worlds. Despite the growing importance of this activity, little research examines this phenomenon. The current study investigates the fundamental question of how users understand the consumption of virtual goods. Using the theory of social representations and core-periphery analysis, this study elicits and analyzes the social representation of virtual consumption. Study participants are 154 Second Life users. Results identify 32 concepts and relationships representing the collective perceptions of virtual consumption in this social virtual world. Social representation map interpretations point to several key themes that provide a foundation for future investigations of virtual economy consumption behavior.     

Dually sustainable urban mobility option: Shared-taxi operations with electric vehicles

Electric vehicles (EVs) are energy efficient and often presented as a zero-emission transport mode to achieve long-term decarbonization visions in the transport sector. The implementation of a sustainable transportation environment through EV utilization, however, requires the addressing of certain cost and environmental concerns such as limited driving range and battery-charging issues before its full potential can be realized. Nevertheless, a specific type of use of EVs, namely in taxi services, may elicit positive public opinion, as it promises a commitment toward sustainability in urban life. In light of this, this study proposes an integrated approach that combines EV operation with a conceptual design for shared-ride taxi services. As some productivity loss may be naturally expected due to the time spent in charging, it is important to look at whether such performance loss from the passenger and system standpoints can be offset with ingenuity in operational design. In this study, an EV taxi charge-replenishing scheme that can be coupled with a real-time taxi-dispatch algorithm is designed. The proposed EV charging schemes for taxi services are studied via simulations and the effects of the limited driving range and battery-charging details are examined from a system performance viewpoint. The simulation study also reveals illustrative results on the impact of the EV taxi fleet's operation on the charging system. Next, a real-time shared-taxi operation scheme that allows ride sharing with other passengers is proposed to maximize the operational efficiency. The simulation results suggest that the shared-taxi concept can be a viable option to improve on the limitations caused by EV operation. In addition, the importance of projected charging demands and queue delays at different charging locations are also addressed. Some limitations and a future research agenda are also discussed.     

Adaptive conjoint analysis for the vitalisation of angel investments by entrepreneurs

In order to promote angel investments, attracting those who have entrepreneurial experience is necessary because their capital, unique managing experience, and business insight are highly beneficial to the performance of the investment. This can be accomplished by providing a preferred investment environment for potential angels who have entrepreneurial backgrounds. In this paper, we use an adaptive conjoint analysis to identify preferred investment environments represented as a combination of support policies for business angels who have entrepreneurial experience in Korea. Of particular interest is a preference for angel insurance. This insurance is newly proposed based on prospect theory, which explains that people tend to be more sensitive to a loss than to a gain. The value of the angel insurance is compared to those of tax policies and matching funds for business angels. The empirical results are expected to contribute to promoting angel investments by attracting entrepreneurs to become business angels.     

Dimensional effects of Korean SME’s entrepreneurial orientation on internationalization and performance: the mediating role of marketing capability

This study examines how three different dimensions of entrepreneurial orientation (proactiveness, innovativeness, and risk-taking) each determine internationalization strategies and enhance international performance among small and medium-sized enterprises (SMEs) through the mediating role of marketing capabilities. An integrative theoretical framework built on international entrepreneurship and a resource-based approach was tested in the context of Korean SMEs. Analyses of 401 survey data collected from Korean exporting SMEs revealed the differential effects of each entrepreneurial orientation and the mediating effect of marketing capability on internationalization strategies and performance. Proactiveness and risk taking appeared to function as significant antecedents of marketing capability. Marketing capability, in turn, significantly decreased internationalization scope and increased the financial performance of Korean SMEs, though it did not influence internationalization scale. This study further confirms that the mediating role of marketing capability in entrepreneurial orientation-performance relationships vary by entrepreneurial orientation dimensions. Taking the direct and indirect roles of the entrepreneurial orientation dimensions together, this study recommends the critical prioritization of risk-taking over proactiveness. It extends previous approaches to the triad of resource–capability–performance. Theoretical contributions and insightful managerial implications are also provided.     

Let Their Voices Be Seen: Exploring Mental Mapping as a Feminist Visual Methodology for the Study of Migrant Women

This article explores how mental mapping can be used as a critical methodology for feminist migration studies. In a case study of female marriage migrants who settle in rural areas in South Korea from other Asian countries, I attempt to develop mental mapping to supplement verbal interviews. Mental maps of hometowns and current neighborhoods drawn by my interviewees represent their geographical imaginations and complex identity negotiations that mirror the change in their social locations. In order to understand multilayered meanings embedded in the images and the way in which power relations existent between the researcher and the researched affect the map production, I suggest a critical reading of the maps. The article shows how a reflexive and intertextual reading makes a difference to the interpretation of the maps. It argues that the maps are not mere reflections of the women's cognition, but rather socially constructed texts through which their desires, emotions, feelings and internal contradictions are expressed and negotiated. My research suggests that mental mapping, if ethically performed and critically evaluated, has potential as a means to convey the unheard voices of the marginalized to diverse audiences.     

Tariffs and formation of free trade agreements networks

This paper examines the formation of bilateral free trade agreements (FTAs) on the basis of country heterogeneity in the tariff level. We demonstrate that a country's unilateral incentive to form an FTA depends on the relative magnitudes of the (negative) market concession effect and the (positive) market expansion effect, both of which are determined by the tariff levels of the two FTA partner countries. Global welfare is maximised when all country pairs form FTAs. Two countries in equilibrium are more likely to form an FTA when their tariff gap is smaller or when their tariff levels are neither very high nor very low. This finding is robust to several extensions of the model. Our preliminary empirical analysis provides some evidence for the finding.     

Does health insurance decrease health expenditure risk in developing countries? The case of China

This article studies the impact of health insurance on individual out‐of‐pocket health expenditures in China. Using China Health and Nutrition Survey data between 1991 and 2006, we apply two‐part and sample selection models to address issues caused by censored data and selection on unobservables. We find that, although the probability of accessing health care increases with the availability of health insurance, the level of out‐of‐pocket health expenditure decreases. Our results from a selection model with instrumental variables suggest that having health insurance reduces the expected out‐of‐pocket health expenditure of an individual by 29.42% unconditionally. Meanwhile, conditional on being subjected to positive health expenditure, health insurance helps reduce out‐of‐pocket spending by 44.38%. This beneficial effect of health insurance weakens over time, which may be attributable to increases in the coinsurance rates of health insurances in China.     

A quantitative perspective of Porter's industry forces framework for investment analysis

Porter's industry forces framework is an important tool for external analysis of firms, but its qualitative nature presents numerous limitations to be used in investment analysis. This study introduces a quantitative perspective of the framework using financial information proxies. This allows investors to gauge the external factors quantitatively and to gain enhanced framework usability. In order to test its validity, the correlation movements of our quantitative perspective have been analysed. For demonstration of enhanced usability, our quantitative perspective, alongside machine learning models, was used to predict business performances. The empirical results indicate that our quantitative perspective of the framework corroborates with its original definition and that it exhibits enhanced usability than the original framework.     

Does local political support influence financial markets? A study on the impact of job approval ratings of political representatives on local stock returns

Using data on job approval ratings of governors, U.S. senators, and the president, we find that firms located in states with high approval ratings outperform firms located in states with low approval ratings by .64% per month. Furthermore, this relationship is stronger when investors are actively involved in politics, when local politicians are closer to the center of political power, for small firms that have a larger proportion of local investors, and for financially strong areas where investors are ready to execute investments in local stocks. Overall, our study shows that investors’ political sentiment is important in determining stock returns.     

South Korea’s outward direct investment and its dyadic determinants: Foreign aid,bilateral treaty and economic diplomacy

This study investigates the factors that affect South Korean outward foreign direct investment (FDI) in developing countries. Most previous studies focus on monadic factors and do not consider how and to what extent bilateral relationships between South Korea and the host countries affect the investment decisions of Korean firms. The current study finds that interstate factors such as South Korea's international investment treaties with and official development assistance to host countries have positive effects on FDI to these countries, while presidential visits have strong and statistically significant effects on FDI only in countries located in non-Asian regions, especially the African continent. The findings suggest that the effects of bilateral relations on South Korea's FDI vary depending on the geographic location of the host country.