Modeling the density variations of urban land uses with transportation network congestion

Perhaps the single most distinctive character of urban activity that distinguishes it from rural and regional activities is the intensive use of urban land. While the nature of density variations of urban land uses and their associated land rents are well understood, there have been few operational urban models that explicitly address the density variations of land uses. The paper presents a combined land use-transportation model, in which transportation congestion costs on networks of various transportation modes are simultaneously determined with the efficient intensity level of land uses. The procedure uses a nonlinear programming approach within the context of a multicommodity flow/input-output model.     

Innovation strategy of local pharmaceutical firms in Korea: a multivariate analysis

This article examines 37 local pharamaceutical firms in Korea to identify different patterns of innovation behaviour associated with four types of firms, which are categorized by two variables: the scale of operation and technological capability. Both bivariate and multivariate analyses support the hypotheses that these four types of firms exhibit different innovation strategies and in turn the level of performance they achieved. Specifically, large firms with high technological capability diversify their efforts, investing in their own R & D and tapping foreign capabilities, and as a result exhibit the highest degree of innovativeness, while large firms with low technological capability resort primarily to the transfer of foreign technology for short-term profitability. In contrast, small firms with high technological capability rely mainly on their own R & D efforts with the assistance from local R & D institutes and enjoy the highest growth rate, whereas small firms with low technological capability imitate technologically low-grade products by hiring experienced technical personnel from other firms. There are also fragmented indications that many local firms have long evolved from small firms with low capability to large firms with high capability. Finally, managerial and theoretical implications for the innovation strategies in LDCs/NICsE are discussed.     

Are there long-run implications of analyst coverage for IPOs?

Analyst coverage has been cited increasingly as an important attribute in the selection of an underwriter for a firm about to go public. However, it has also been alleged that affiliated analysts provide biased research. In this study, we examine these interrelated issues by examining the long-run performance of IPOs with coverage from their managing underwriters in a 1993–2003 sample. We find that (1) analysts’ research coverage from their managing syndicate is not related to long-run performance; (2) long-run performance is not different for firms that receive all-star analyst coverage; and (3) investors are not systematically worse off for following lead underwriter recommendations.     

Does Trade,Technology, or Education Expel Traditional Sectors? Some Evidence from the Collapse of the Silk Sector in South Korea*

Rapid economic growth and development often drives out traditional activities. We determine how increased trade, technology, and access to education in South Korea led to the collapse of its silk sector. Results show that although the imports of silk yarn and fabric reduced domestic silk output and prices, trade liberalization was not the sole contributor to the collapse. Inelastic labor demand for unskilled workers, skill‐biased technology, and especially increased access to education all led to a sharp rise in the relative wage of unskilled workers, and the ensuing rise in production costs contributed to the silk sector's collapse.     

An Application of an Integrated Transport Network– Multiregional CGE Model: a Framework for the Economic Analysis of Highway Projects

This paper develops a framework for the economic analysis of highway projects that is then used to estimate the dynamic economic effects of a highway project on the economic growth and the regional disparity in Korea. The framework is composed of a transport model and a multiregional Computable General Equilibrium (CGE) model. The transport model measures a change in interregional shortest distances and the accessibility due to the highway project. The CGE model estimates the spatial economic effects of the project on GDP, the price, exports, and the regional distribution of wages and population. The simulation allows policy makers to determine which highway development deserves the priority for investment, based on consideration of economic growth and regional economic equity in the long run. The simulation found that all the highway projects have positive effects on GDP and export growth as well as regional equity in terms of wage and population.     

Breaking the letter vs. spirit of the law: How the interpretation of contract violations affects trust and the management of relationships

Contract violations are ubiquitous. There has been little attention, however, dedicated to understanding the mechanisms involved in making sense of and addressing such occurrences. Two experimental studies investigated how people interpret contract violations and how these interpretations affect trust and the management of relationships. By drawing on the distinction between violations of the letter versus spirit of the law, we show that letter violations are more difficult to overcome than spirit violations, due to higher perceived intentionality. These effects generalized across different populations, levels of contracting experience, types of contracting contexts, levels of ambiguity within the contract, and degrees of contract complexity. The results yield important implications for understanding contract violations, trust, and organizational responses as a relationship management capability. Copyright © 2014 John Wiley & Sons, Ltd.     

The comparative effect of process and outcome accountability in enhancing professional scepticism

Responding to concerns about insufficient professional scepticism in audits (e.g. PCAOB, 2011 , 2012 ; ASIC, 2012 ), we investigate the effect of process and outcome accountability in enhancing the level of professional scepticism and the differences in effects across audit experience levels. In our experiment, we manipulate the type of accountability (outcome versus process) for both novice auditors and audit seniors. We examine the effect on four measures of professional scepticism and find that auditors show greater levels of professional scepticism when they are expected to justify their judgment process, rather than their final judgments. Our results also show that the professional scepticism of novice auditors improves to a greater extent than that of more experienced auditors (audit seniors) under process accountability.     

Nonparametric Evaluation of Economies of Scope in the Context of Technical Efficiency: The Case of Rice and Vegetable Farms in Korea

This paper provides a nonparametric evaluation of economies of scope in the context of technical efficiency allowing for non‐convexity, with an application to Korean rice and vegetable farms. Relying on non‐parametric‐free disposal hull and data envelopment analysis approaches and input–output data for rice and vegetable farms from the Korea Farm Household Economy Survey data collected in 2007, this article examines technical inefficiency and its decomposition under non‐convexity and convexity. Empirical measures of technical inefficiency and its decomposition results are provided, with a focus on a component of technical inefficiency associated with economies of scope (i.e. diversification benefits) under non‐convexity in production technology. The decomposition measures of technical inefficiency include pure technical inefficiency, size inefficiency and diversification inefficiency. The results provide empirical evidence supporting size‐dependent diversification strategies, where benefits of diversification are larger for small farms on average compared to those of large farms.     

Ethical Standards and Ideology Among Korean Public Relations Practitioners

The purpose of this paper is to investigate the Korean public relations practitioners' perceptions toward ethical issues, individual practices, and ethical standards in the context of ethical ideology. The survey was conducted with the Korean public relations practitioners. A 2 (Relativism: High/Low) × 2 (Idealism: High/Low) factorial design was devised for the analysis.The MANOVA results showed that ethical ideology (idealism and relativism) had significant effects on ethical decision-making. Idealistic ideology had a main effect on ethical issues, individual practices, and ethical standards. However, relativistic ideology only affected the decision-making process related to ethical issues. No interaction effects were detected. This study indicated that the individual's ethical ideology could be an important variable in explaining the outcomes of the individual's ethical decision-making among Korean public relations practitioners.     

E-negotiation System Development: Using Negotiation Protocols to Manage Software Components

A major challenge in developing an e-negotiation system (ENS) is that the system should fit into the context which varies with negotiation cases. To mitigate context dependency, we propose to separate e-negotiation protocols from ENS and adopt a component-oriented approach. In this paper, we present a framework for e-negotiation protocols that implements this approach. The framework has been tested by developing several ENSs of which two had been tested in laboratory negotiation experiments with more than 100 participants.