Triple helix dynamics of South Korea’s innovation system: a network analysis of inter-regional technological collaborations

This study intends to unveil the current innovation landscape of South Korea in an attempt to examine the underlying patterns of inter-regional technology collaboration occurring at the triple helix level. Social network analysis techniques are used to quantify the structure of the four types of inter-provincial co-inventorship network between university, industry, and government (UIG). The findings confirm the declining centrality of Seoul as the primary research center with the emergence of new regional players such as Gyeonggi and Daejeon. However, they also reveal that these three main innovative regions have become strongly linked in recent years and constitute the core of the inter-regional collaboration networks. The poor linkage between the research core and the periphery, in turn, raises some concerns regarding the unfair geographical concentration of innovation resources and technology activities, hindering the synergy in the national and regional innovation systems. To create a dynamic innovative milieu for bolstering Korea’s national innovation system, therefore, interactive learning between the core and the periphery, as well as between the various UIG actors, must be further facilitated.     

Death imagery in antipoaching advertising

In three studies, death imagery and regulatory focus are examined for their effects in wildlife protection campaigns. Images of death are found to lead to positive intentions to conserve wildlife through fear, but only when ads are prevention-focused rather than promotion-focused. In Study 1, participants who view an image of a dead elephant indicate feeling fear and stronger intentions to conserve wildlife. In Study 2, participants who view a prevention-focused ad depicting a dead rhino indicate stronger intentions to sign a wildlife conservation pledge, but the effect is attenuated when the ad is promotion-focused. Study 3 finds similar results using the image of a dead tiger. Theoretical insights and practical implications are discussed.     

Audit committees,corporate governance,and shareholder wealth: Evidence from Korea

This paper examines the effect of audit committee appointments on shareholder wealth in Korea after the Asian financial crisis. We find that stock prices generally increase with audit committee appointments. In contrast, chaebol (business group) affiliates and firms switching audit committee membership are associated with significantly lower stock returns, probably due to the management’s opportunistic behavior. However, the independence and financial literacy of the audit committee members appear to mitigate the opportunistic behavior. Therefore, our result confirms that the characteristics of the audit committee strengthen or weaken the existing corporate governance. We discuss the implications of our results obtained under Korea’s unique corporate governance structure.     

Monotone strong increases in risk and their comparative statics

We introduce a new concept of the monotone strong increase in risk (MSIR) order that imposes monotonicity restrictions on the ratio of the two cumulative of cumulative distribution functions as a special case of Rothschild–Stiglitz increases in risk that is the subset of the second‐degree stochastic dominance criterion. We show that the MSIR order implies that the conditional expectation of a random variable under one cumulative distribution function is greater than or equal to that under another cumulative distribution function. Restricting the payoff function to be linear in the random variable and limiting our analysis to risk‐averse decision‐makers who are prudent, we obtain appealing comparative statics results for the MSIR shift. This general conclusion can be applied to prevailing economic models having a linear payoff.     

Behavioral credit scoring model for technology-based firms that considers uncertain financial ratios obtained from relationship banking

The Korea government offers technology credit guarantee service to many technology-based small and medium enterprises (SMEs) suffering from funding problems. Many advanced application credit scoring models have been developed based on technology to reduce the high default rates of this service. However, a credit scoring model which can reflect changes in firms after a loan has been granted has not yet been developed. In the study reported here, we propose a behavioral credit scoring model that reflects the debt-paying ability of recipient firms, which is observed as a time series of financial ratios of firms via the relationship banking activities. We utilize this time series, as well as missing patterns of financial information, as additional predictors of loan defaults. We compare our proposed behavioral credit scoring models, fitted at different points of elapsed time, to the application credit scoring model. Finally, we suggest the best behavioral credit scoring model for technology-based SMEs. Our study can contribute to the reduction of the risk involved in credit funding for technology-based SMEs.     

Using humour to increase effectiveness of shameful health issue advertising: testing the effects of health worry level

ABSTRACT

Communicating shame-inducing health issue information is a challenging task as the feelings of shame might elicit withdrawal and avoidance coping, leading to delay in health screening and treatment. With the cognitive and emotional buffering benefits, using humour as a message strategy might help increase approach coping. Real-world ad campaigns dealing with these health issues have been using humour as an advertising tool, and with the lack of humour effects research in health communication, this is a pending topic to pursue. Given that past studies have found health worry to be a significant contributing factor in health behaviours, the audience factor of the individual's general health worry level is investigated. Three experimental studies provide evidence to humour benefitting low health-worry-level individuals in lower shame contexts and high health-worry-level individuals in higher shame contexts. Theoretical and practical implications provide the significance of the findings.     

Religiosity,Economics and Life Satisfaction

This paper uses a large individual data set from the Euro Barometer Survey (ICPSR 1993 Interuniversity Consortium for Political and Economic Research (ICPSR) 1993 Euro-Barometer Surveys Ann Arbor: University of Michigan  ) to estimate the influence of religious phenomena on self-perceived satisfaction of an individual, controlling for macroeconomic conditions, effects of his political stance, and other socio-economic variables. Our estimated ordered logit model results show that an individual's life satisfaction is positively related to measures of strong religious attachment in the sense of being willing to commit to attending religious services frequently. Our other findings include that no strong evidence exists for the hypothesis that leftists suffer more from income inequality.     

On the efficiency of racetrack betting market: a new test for the favourite-longshot bias

A number of empirical studies on the efficiency of racetrack betting market have shown the ‘favourite-longshot bias,’ which means longshots are overbet while favourites are underbet. Asian markets such as Hong Kong and Japan, however, have produced some contradictory empirical evidence to the bias. One critical element in the efficiency test procedure is how to assess the unobservable objective winning probability of a horse in a race. This paper proposes a new test framework with a more general evaluation of the objective probability of winning than the traditional method. Unlike the traditional method, our model allows the heterogeneity of the horses and the races. We apply the new empirical method to test whether the favourite-longshot bias is present in racetrack betting market of Korea. We found that the favourite-longshot bias exists in the racetrack market of Korea and the result distinguishes Korean racetrack market from other Asian markets.     

Nonlinear mean-reversion to purchasing power parity: exponential smooth transition autoregressive models and stochastic unit root processes

The purpose of this paper is to show an empirical test of subadditivity based on a sufficient condition-namely, transray convexity coupled with global economies of scale-which has not been commonly used in the literature. We use this sufficient condition to test the hypothesis of subadditivity of the cost function in the largest Portuguese Telecommunications firm, CTT, and find that the market for telecommunications services in Portugal was a natural monopoly in the period analysed.     

Understanding Green Advertising Attitude and Behavioral Intention: An Application of the Health Belief Model

ABSTRACT

Despite the high interest in green advertising and its potential to foster sustainable consumerism, academic research in this area has been somewhat limited. The current study developed a predictor model of green advertising attitude and behavioral intention using environmental issue-focused factors that included the Health Belief Model, consumption-focused factors, and demographic factors to help understand the significant influences that shape global green advertising outcome. An online survey of 385 participants showed that a number of factors in both issue-focused (e.g., response-efficacy and ecocentric/anthropocentric attitudes) and consumption-focused (e.g., green product purchase frequency and past green product attitude) categories significantly predicted green advertising attitude and behavioral intention. Theoretical as well as practical implications of the findings will be discussed in detail.