Search results for: Korean firm

Authors: SunWoo Lee, TaeBum Lee, YoonHwa Park, YooJeong Kim

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Solar lentigines appear predominantly on chronically sun-exposed areas of skin, such as the face and the back of the hands. Among the several ways to lentigines treatment, quality-switched lasers are well-known effective treatment for removing solar lentigines. The present pilot study was therefore designed to assess the efficacy of quality-switched ruby laser treatment of such lentigines compare between pretreatment and posttreatment of skin brightness. Twenty-two adults with chronic sun-damaged skin (mean age 52.8 years, range 37–74 years) were treated at the Korean site. A 694 nm Q-switched ruby laser was used, with the energy density set from 1.4 to 12.5 J/cm2, to treat solar lentigines. Average brightness of skin color before ruby laser treatment was 137.3 and its skin color was brightened after ruby laser treatment by 150.5. Also, standard deviation of skin color was decreased from 17.8 to 16.4. Regarding the multivariate model, age and energy were identified as significant factors for skin color brightness change in lentigo depigmentation by ruby laser treatment. Their respective odds ratios were 1.082 (95% CI, 1.007–1.163), and 1.431 (95% CI, 1.051–1.946). Lentigo depigmentation treatment using ruby lasers resulted in a high performance in skin color brightness. Among the relative factors involve with ruby laser treatment, age and energy were the most effective factors which skin color change to brighter than pretreatment.

Keywords: depigmentation, lentigine, quality switched ruby laser, skin color

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Authors: Nidhi Kaushal, Sanjit Mishra

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Narrative writings in literature are ample source of knowledge and easily understandable. In every old tradition, we found that people learn ethics from oral tales. They had their leaders and lessons of leadership in their stories. In India, we have sufficient amount of stories of leaders. Whether the story is of an ordinary person or a corporate leader of large firm, it always has a unique message of motivation. The objective of this paper is to elaborate the story lines in literature and get the leadership lessons from them, so that we can set up a new concept of leadership based on scholarship of literature. This is our hypothesis that leadership lessons can be learned from the study of literary writings and it can also act an innovative way of learning the management skills through literature. The role of the leader can be familiarly communicated in the form of the tales. Describing a positive psychological narrative from the text is the best way to manifesting an idea into the minds of people. We accomplished this paper that leadership as an attribute can be learned from the folk psychological literary writings.

Keywords: leadership, literature, management, psychology

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Authors: Evgeniya Ivanova

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Nowadays, in the literature, there is still no fixed definition of knowledge management that often remains only as an academic discipline. The current market situation is changing very quickly, the need of new technologies is high, and knowledge management is the area that ensures that the know-how has not been lost during market development and adoption. The study examines how knowledge management is being leveraged and practiced in the management consultancy companies and provides not only the tips and best practices of applied knowledge management approaches but also the validation matrix for its successful or unsuccessful implementation. Different knowledge management approaches are explored on the basis of their practical implementation, including related challenges, knowledge sharing process, and barriers that are typical for consulting firms mostly driven by the agile working culture. The relevance of proposed topic is confirmed by the finding that corporate working culture and the exponentially developing technologies have a direct impact on the success of practical implementation of knowledge management.

Keywords: knowledge management, knowledge management in practice, consulting firm, knowledge management success

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Authors: Anmari Viljamaa, Elina Varamäki

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In this study we compare the profiles of transitory hybrid entrepreneurs and persistent hybrid entrepreneurs to determine how they differ. Hybrid entrepreneurs (HEs) represent a significant share of entrepreneurial activity yet little is known about them. We define HEs as individuals who are active as entrepreneurs but do no support themselves primarily by their enterprise. Persistent HEs (PHEs) are not planning to transition to fulltime entrepreneurship whereas transitory HEs (THEs) consider it probable. Our results show that THEs and PHEs are quite similar in background. THEs are more interested in increasing their turnover than PHEs, as expected, but also emphasize self-fulfillment as a motive for entrepreneurship more than PHEs. The clearest differences between THEs and PHEs are found in their views on how well their immediate circle supports full-time entrepreneurship, and their views of their own entrepreneurial abilities and the market potential of their firm. Our results support earlier arguments that hybrids should be considered separately in research on entrepreneurial entry and self-employment.

Keywords: hybrid entrepreneurship, part-time entrepreneurship, self-employment, Theory of Planned Behavior

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Authors: Yountaik Leem, Kwang Woo Nam, Sang Ho Lee, Tae Heon Moon

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As to the development of the capitalist economy, local governments put their focuses on economic growth and quality of life including the management of declined urban area. Together with the rapid advances in ICTs (information and communication technologies) Korean government tried to adapt ICTs to urban spaces to catch these two goals. Ubiquitous city, concept introduced by Mark Weiser in 1988, is a kind of ICTs based urban space which can provide IT services anytime and anywhere. This paper introduces the experience of developing ICTs-based urban planning and it’s implementation process and discusses the effect of the R&D based U-City test-bed project. For a community center of a residential zone in a newly developing city, spatial problems and citizen’s needs were identified to plan IT-based urban services. The paper also describes the structure and functions of Community O/S (COS) as an IT platform which controls data and urban devices such as media facades and U-poles. Not only one-way information but also Interactive services were included. Public creating activities using this platform also added –CO2 emission management and citizen making safety map, etc. The effects of the comprehensive U-City planning in S/W, H/W and human-ware were discussed on the case study of similar individual projects.

Keywords: ICTs-based urban planning, implementation, public IT service, U-City

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Authors: Farizy Yunaz, Catur Sasongko

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This research aims to provide the empirical evidence regarding cost stickiness behavior and its determinants on listed manufacturing companies. Hypothesis testing is performed using pooled least square method. The result concludes that there is cost stickiness behavior in selling, general and administrative costs. In term of determinants, firm-specific adjustment costs measured by asset intensity and employee intensity have significant positive impact on the level of cost stickiness. Meanwhile, earnings target and leverage have significant negative impact on the level of cost stickiness. However, the management empire building incentives measured by free cash flow has no significant positive impact.

Keywords: adjustment cost, cost behavior, cost stickiness, earnings target, leverage, management empire building incentive

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Authors: Sue Lynn Kim, Sang-Gyun Lee, Joan P. Yoo

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Although adolescents in low socioeconomic status (SES) have been reported to less engage in health promoting behaviors (HPB), the specific mechanism between their SES and HPB has not been extensively studied. Considering the Korean education system which focuses only on college entrance exams while lacking of interest in students’ health, and unique traits of adolescents, such as ego-centric thinking, family members can significantly contribute to develop and enhance adolescents’ HPB. Based on the review of related literature and previous researches, this study examined the mediating effect of family-based activities on the relationship between SES and adolescents' HPB. 636 adolescents (4th graders in elementary and 1st graders in middle school) and their parents from the 1st year survey of Seoul Education & Health Welfare Panel were analyzed by AMOS 19.0 utilizing structural equation modeling. Analytic results show that adolescents in low SES were less likely to engage in family-based activities as well as HPB. This association between SES and HPB was partially mediated by family-based activities. Based on the findings, we suggest that special education programs to enhance HPB should be required in schools and community organizations especially for adolescents in low SES who may have difficulties in doing family-based activities due to parents’ low income and insufficient leisure time. In addition, family-based activities should be encouraged to enhance HPB by raising parents' awareness about the importance of family-based activities on their children's HPB.

Keywords: family-based activity, health promoting behaviors, socioeconomic status, HPB

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Authors: Jeonghun Lee

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Thyroid-stimulating hormone (TSH) is regulated by the negative feedback of T3 and T4 but is affected by cortisol and cytokines during allostasis. Hence, TSH levels can be influenced by stress through cortisol. In the present study, changes in TSH levels under stress and the potential of TSH as a stress marker were examined in patients lacking T3 or T4 feedback after thyroid surgery. The three stress questionnaires (Korean version of the Daily Stress Inventory, Social Readjustment Rating Scale, and Stress Overload Scale-Short [SOSS]), open-ended question (OQ), and thyroid function tests were performed twice in 106 patients enrolled from January 2019 to October 2020. Statistical analysis was performed using the generalized linear mixed effect model (GLMM) in R software version 4.1.0. In a multiple LMM involving 106 patients, T3, T4, SOSS (category), open-ended questions, the extent of thyroidectomy, and preoperative TSH were significantly correlated with lnTSH. T3 and T4 increased by 1 and lnTSH decreased by 0.03, 3.52, respectively. In case of a stressful event on OQ, lnTSH increased by 1.55. In the high-risk group, lnTSH increased by 0.79, compared with the low group (p<0.05). TSH had a significant relationship with stress, together with T3, T4, and the extent of thyroidectomy. As such, it has the potential to be used as a stress marker, though it showed a low correlation with other stress questionnaires. To address this limitation, questionnaires on various social environments and research on copy strategies are necessary for future studies.

Keywords: stress, surgery, thyroid stimulating hormone, thyroidectomy

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Authors: Young-Ran Song, Byeong-Uk Lim, Sang-Ho Baik

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This study was initiated in order to develop a method for soy sauce fermentation at low salt concentrations without decreasing quality. Soy sauce was fermented with the fermentation starter (meju) and different salt contents (8-14%, w/v) by inoculating two strains or not, in which Torulaspora delbrueckii and Pichia guilliermondii strains having different abilities to induce sterilizing effects or enhance flavor production were used. As the results, there were microbial and biochemical differences among prepared soy sauce. First, Staphylococcus and Enterococcus spp. in addition to Bacillus genus that is the most important bacteria in Korean fermented soy product were detected by salt reduction. However, application of yeast starters can inhibit the undesirable bacterial growth. Moreover, PCA bi-plots of major principal components on various biochemical parameters (final pH, total acidity, soluble sugar, reducing sugar, ethanol and 32 volatile flavor compounds) were drawn to demonstrate the physicochemical differences and similarities among the samples. It was confirmed that the soy sauce samples produced with different salt concentrations were clearly different since salt reduction induced low contents of acids, alcohols and esters with higher acidity. However despite low salt concentration, combining two different yeasts appeared to have similar characteristics to the high salt-fermented soy sauce with elevated concentrations of ethanol, some alcohols, and most ketones, hence resulted in a balance of more complex and richer flavors with a flavor profile pattern identical to that of high-salt.

Keywords: Soy sauce, low salt, fermentation, yeast.

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Authors: Hossein Emari, Hossein Vazifehdoust, Hashem Nikoo Maram

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This study aims to develop an original framework of Environmental Consciousness (EC) to explore the positive effect of environmental consciousness on financial performance through the partial mediator - green intellectual capital. A questionnaire survey on the environmental consciousness, intellectual capital, and financial performance of Iran’s manufacturing firms was conducted, and 324 samples were analyzed. This study utilizes structural equation modeling to explore the direct and indirect influences of EC on financial performance. Research results reveal that environmental consciousness had an indirect impact on financial performance through investment in green intellectual capital. It was thus known that green intellectual capital is a mediator of the relationship between environmental consciousness and financial performance. This paper may serve as a reference for firms mapping out future environmental policies and provide an input of various perspectives and arguments into the discipline of green management.

Keywords: environmental consciousness, social responsibility, green intellectual capital, financial performance

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Authors: Byeong-Uk Lim, Young-Ran Song, Sang-Ho Baik

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This study aimed to develop yeast starters for scientific alcohol production and systematic quality control of whisky. A total of 389 yeast strains were isolated from traditional Korean fermentation starter (nuruk) and rice wine (makgeolli), and ten strains were finally selected for their high alcohol productivities, in which their alcohol productions were above 17.3% (v/v) during 10 days under two steps of glucose feeding condition (30% and then 15%, w/v). By 18s rDNA sequence analysis, all strains were identified as Saccharomyces cerevisiae (SC), and they can grow well under 50% (w/v) glucose and 10% (v/v) ethanol conditions. Furthermore, the capability of ten different SC strains to ferment rice wine for whisky was studied. Rice wine was fermented with only steamed rice, water, and two types of enzymes (glucoamylase and α-amylase) during 14 days at 25 °C, and then their oenological properties have been determined. As the results, the fermented rice wines indicated the final pH range of 4.24-4.38 and acidity range of 0.12-0.18. The highest ethanol production of 20.2% (v/v) was found in the fermentation with a SC-156 strain, whereas SC-92 (16.8%) and SC-119 (16.4%) showed significantly lowest ethanol productions. In addition, the residual sugar contents showed negative correlation with alcohol contents. Moreover, this study focused on nucleotide polymorphisms in the MSN2 and MSN4 genes to investigate the cause of the defective stress responses in yeast. Consequently, it was also confirmed that the deletion of the N termini of Msn4p from identified point mutations in SC-63, SC-95, SC-156, SC-158, and SC-160 strains.

Keywords: yeast, high-alcohol, whisky, rice wine

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Authors: Okyu Kwon, Dongho Kang, Byungsik Kim, Seungkwon Jung

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We propose a technique to measure the impact of loss of traffic function in a particular area to surrounding areas. The proposed method is applied to the city of Seoul, which is the capital of South Korea, with a population of about ten million. Based on the actual road network in Seoul, we construct an abstract road network between 1kmx1km grid cells. The link weight of the abstract road network is re-adjusted considering traffic volume measured at several survey points. On the modified abstract road network, we evaluate the traffic vulnerability by calculating a network measure of betweenness centrality (BC) for every single grid cells. This study analyzes traffic impacts caused by road dysfunction due to heavy rainfall in urban areas. We could see the change of the BC value in all other grid cells by calculating the BC value once again when the specific grid cell lost its traffic function, that is, when the node disappeared on the grid-based road network. The results show that it is appropriate to use the sum of the BC variation of other cells as the influence index of each lattice cell on traffic. This research was supported by a grant (2017-MOIS31-004) from Fundamental Technology Development Program for Extreme Disaster Response funded by Korean Ministry of Interior and Safety (MOIS).

Keywords: vulnerability, road network, beweenness centrality, heavy rainfall, road impact

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Authors: Bella Llego

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This study aims to investigate the relationships between human resource management and entrepreneurship in the view of owner-managers and employees, and among employees with in the SME in Thailand. The research method used a qualitative method to confirm the phenomenology interest with top management position which women are regarding their career path by using purposive sampling method. The results showed that human resources management has positive relate with the corporate entrepreneurship are including the recruitment process, training worker, professional career development and reward system impact to entrepreneur’s knowledge and innovation of corporate entrepreneurship in respectively to bring a very reliable way. Then, the key informant suggested that women’s career experiences predisposed them to find an alternative route for entrepreneurship, despite having achieved top management. The understanding factors that successfully contribute to the development of women entrepreneurs from career development perspective are critical endeavours for any type of organization as well.

Keywords: entrepreneurship, firm performance, human resource management, work efficiency

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Authors: Mehraj Udin Ganaie, Mohammad Israrul Haque

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The purpose of this paper is to enhance the theoretical and conceptual understanding of human talent management (HTM). With the help of extensive review of existing literature, we proposed a conceptual framework and few propositions to elucidate the influential relationship of competency focus, talent pooling, talent investment, and talenting orientation with value creation of a firm. It is believed that human talent management model will enhance the understanding of talent management orientation among practitioners and academicians. Practitioners will be able to align HTM orientation with business strategy wisely to yield better value for business (Shareholders, Employees, Owners, Customers, agents, and other stakeholders). Future research directions will explain how human talent management researchers will work on the integration of relationship and contribute towards the maturity of talent management by further exploring and validating the model empirically to enhance the body of knowledge.

Keywords: talent management orientation, competency focus, talent pooling, talent investment, talenting orientation

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Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav

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Risk management has been gaining extensive focus from international organizations like Committee of Sponsoring Organizations and Financial Stability Board, and, the foundation of such an effective and efficient risk management system lies in a strong risk governance structure. In view of this, an attempt (perhaps a first of its kind) has been made to develop a risk governance index, which could be used as proxy for quality of risk governance structures. The index (normative framework) is based on eleven variables, namely, size of board, board diversity in terms of gender, proportion of executive directors, executive/non-executive status of chairperson, proportion of independent directors, CEO duality, chief risk officer (CRO), risk management committee, mandatory committees, voluntary committees and existence/non-existence of whistle blower policy. These variables are scored on a scale of 1 to 5 with the exception of the variables, namely, status of chairperson and CEO duality (which have been scored on a dichotomous scale with the score of 3 or 5). In case there is a legal/statutory requirement in respect of above-mentioned variables and there is a non-compliance with such requirement a score of one has been envisaged. Though there is no legal requirement, for the larger part of study, in context of CRO, risk management committee and whistle blower policy, still a score of 1 has been assigned in the event of their non-existence. Recognizing the importance of these variables in context of risk governance structure and the fact that the study basically focuses on risk governance, the absence of these variables has been equated to non-compliance with a legal/statutory requirement. Therefore, based on this the minimum score is 15 and the maximum possible is 55. In addition, an attempt has been made to explore the determinants of this index. For this purpose, the sample consists of non-financial companies (429) that constitute S&P CNX500 index. The study covers a 10 years period from April 1, 2005 to March 31, 2015. Given the panel nature of data, Hausman test was applied, and it suggested that fixed effects regression would be appropriate. The results indicate that age and size of firms have significant positive impact on its risk governance structures. Further, post-recession period (2009-2015) has witnessed significant improvement in quality of governance structures. In contrast, profitability (positive relationship), leverage (negative relationship) and growth (negative relationship) do not have significant impact on quality of risk governance structures. The value of rho indicates that about 77.74% variation in risk governance structures is due to firm specific factors. Given the fact that each firm is unique in terms of its risk exposure, risk culture, risk appetite, and risk tolerance levels, it appears reasonable to assume that the specific conditions and circumstances that a company is beset with, could be the biggest determinants of its risk governance structures. Given the recommendations put forth in the paper (particularly for regulators and companies), the study is expected to be of immense utility in an important yet neglected aspect of risk management.

Keywords: corporate governance, ERM, risk governance, risk management

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Authors: Mahdi Azizzadeh, Ali Nabizadeh

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This paper investigates whether ownership structure has significant effects on dividend policy and the percentage of cash dividend payout ratio in Iranian companies listed on the Tehran Stock Exchange. We use a sample of 300 firm-years for 2010-2014. Results indicate that there is no significant relationship between family ownership and/or institutional ownership and dividend policy. Furthermore, there is no significant relationship between dividend policies in family-owned firms with high or low institutional ownership. However, our empirical test shows that family firms with a low level of institutional investors distribute more cash dividends on average than family firms with a high level of institutional ownership.

Keywords: family ownership, institutional ownership, dividend policy, dividend payout ratio

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Authors: Furry A. Wilis, Dewi Larasati, Suhendri

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Around 96% of architecture firms in Indonesia are classified as small-medium enterprises (SME). This number shows that the SME firms have an important role in architecture, engineering, and construction (AEC) industry in Indonesia. Some of them are still using conventional system (2D based) in arranging construction project documents. This system is fragmented and not fully well-coordinated, so causes many changes in the whole project cycle. Building information modeling (BIM), as a new developed system in Indonesian construction industry, has been assumed can decrease changes in the project. But BIM has not fully implemented in Indonesian AEC industry, especially in SME architecture firms. This article identifies the challenges of implementing BIM in SME architecture firms in Indonesia. Quantitative-explorative research with questionnaire was chosen to achieve the goal of this article. The scarcity of skilled BIM user, low demand from client, high investment cost, and the unwillingness of the firm to switch into BIM were found as the result of this paper.

Keywords: architecture consultants, BIM, SME, Indonesia

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Authors: Asyraf Abdul Halim, Mohd Edil Abd Sukor, Obiyathulla Ismath Bacha

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This paper attempts to investigate the capital structure behavior of Shariah compliant firms of various levels as well those firms who are consistently Shariah non-compliant in Malaysia. The paper utilizes a unique dataset of firms of the heterogeneous level of Shariah-compliancy status over a 20 year period from the year 1997 to 2016. The paper focuses on the effects of dynamic forces behind capital structure variation such as the optimal capital structure behavior based on the trade-off, pecking order, market timing and firmly fixed effect models of capital structure. This study documents significant evidence in support of the trade-off theory with a high speed of adjustment (SOA) as well as for the time-invariant firm fixed effects across all Shariah compliance group.

Keywords: capital structure, market timing, trade-off theory, equity risk premium, Shariah-compliant firms

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Authors: Peter Heimerl, Alexander Plaikner, Mike Peters

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Background and Significance of the Study: Family-run businesses are a decisive economic factor in the Alpine tourism and leisure industry. Within the next years, it is expected that a large number of family-run small and medium-sized businesses will transfer ownership due to demographic developments. Four stages of succession processes can be identified by several empirical studies: (1) the preparation phase, (2) the succession planning phase, (3) the development of the succession concept, (4) and the implementation of the business transfer. Family business research underlines the importance of individual's and family’s values: Especially leadership values address mainly the first phase, which strongly determines the following stages. Aim of the Study: The study aims at answering the following research question: Which leadership values are dominating during succession processes in family-run businesses in Austrian Alpine tourism industry? Methodology: Twenty-two problem-centred individual interviews with 11 transferors and their 11 transferees were conducted. Data analysis was carried out using the software program MAXQDA following an inductive approach to data coding. Major Findings: Data analysis shows that nine values particularly influence succession processes, especially during the vulnerable preparation phase. Participation is the most-dominant value (162 references). It covers a style of cooperation, communication, and controlling. Discipline (142) is especially prevailing from the transferor's perspective. It addresses entrepreneurial honesty and customer orientation. Development (138) is seen as an important value, but it can be distinguished between transferors and transferees. These are mainly focused on strategic positioning and new technologies. Trust (105) is interpreted as a basic prerequisite to run the family firm smoothly. Interviewees underline the importance to be able to take a break from family-business management; however, this is only possible when openness and honesty constitute trust within the family firm. Loyalty (102): Almost all interviewees perceive that they can influence the loyalty of the employees through their own role models. A good work-life balance (90) is very important to most of the transferors, especially for their employees. Despite the communicated importance of a good work-life-balance, but however, mostly the commitment to the company is prioritised. Considerations of regionality (82) and regional responsibility are also frequently raised. Appreciation (75) is of great importance to both the handover and the takeover generation -as appreciation towards the employees in the company and especially in connection with the family. Familiarity (66) and the blurring of the boundaries between private and professional life are very common, especially in family businesses. Familial contact and open communication with employees which is mentioned in almost all handing over. Conclusions: In the preparation phase of succession, successors and incumbents have to consider and discuss their leadership and family values of family-business management. Quite often, assistance is needed to commonly and openly discuss these values in the early stages of succession processes. A large majority of handovers fail because of these values. Implications can be drawn to support family businesses, e.g., consulting initiatives at chambers of commerce and business consultancies must address this problem.

Keywords: leadership values, family business, succession processes, succession phases

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Authors: Jason D. Lin, Christine Sim

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This paper examines the nature of transnational media flows in East Asia, specifically expounding on the popularity of Korean dramas in China and Taiwan. Situated in interdisciplinary academic work from cultural studies, media studies, and linguistics, this project locates the significance of certain genres and regions in determining why some are subject to flow while others remain within domestic borders. Moreover, transnational flows can take one of two routes –official translations and adaptations by media corporations and subtitles written by fans in online communities. The work of 'fan-subbing' has allowed for a more democratized showcase of what bilingual fans consume and are invested in sharing, rather than what major media companies deem relevant and monetizable. This reflects a culture of relatability driven by audiences rather than by corporate direction. Of course, a variety of technological, political, and economic factors play imperative roles in how both professional and fan-made subtitles flowed across borders and between nations. While fan-subbed media may be subject to criticism because of a lack of formal regulation, these limitations can, in some cases, be overcome by the agency afforded to audiences in the digital landscape. Finally, this paper offers a critical lens for deliberating the lasting impact of fan involvement on both professional practices and the flows of mainstream media throughout East Asia.

Keywords: audience studies, bilingual, cultural proximity, fan-subbing, online communities, subtitles

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Authors: Tasawar Nawaz

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Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic Shariah law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. Shariah-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or Qard-al-Hassanah) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital.

Keywords: financial inclusion, intellectual capital, Qard-al-Hassanah, Islamic banking

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Authors: V. Naciti, L. Pulejo, F. Cesaroni

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This study empirically analyzes whether the composition of the board of directors (BoD) enhances sustainability performance, in order to understand how the BoD contribute to the integration of Sustainable Development Goals (SDGs) in their businesses. Hypotheses are developed based on the agency theory and stakeholder theory. Using a system generalized method of the moment (SGMM) two-step estimator, with data from Sustainalytics and Compustat databases for 362 firms in six regions, we find that firms with more diversity on the board and a separation of chair and CEO roles have higher sustainability performance. Moreover, our findings provide that a higher number of independent directors is negatively associated with sustainability performance. This study contributes to the literature on corporate governance and the firm’s performance by demonstrating that the composition of the board of directors contributes to a better sustainability performance: by the implementation of a particular corporate governance mechanism, it is possible to integrate SDGs in the corporate strategy.

Keywords: sustainable development goals, corporate governance, board of directors, sustainability performance

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Authors: Balwinder Singh, Veerpaul Kaur Mann

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The COVID-19 had a dramatic impact on several countries across the world. National governments have imposed widespread restrictions to prevent the growth of this pandemic. The new health competitive scenario induced by the COVID-19 crisis raised many issues on how business activities should be reorganized due to the difficulties of physical interactions with distributors, suppliers and customers. The pandemic has particularly affected the whole marketing processes because of the relevant issues emerged in managing physical sale channels and interactions with one another, both in the Business-to-Consumer and in the Business-to-Business markets. Recent research about the appropriate actions and strategies that could help firms overcome the crisis has highlighted the key role of digital technologies that may ensure connections and, thus, help business activities to run smoothly. This could be true, especially with the emergence of strong limitations on physical interactions during the COVID-19 pandemic. In such a scenario, the online channel becomes the most important conducive for online customers to get in contact with the firm and carry out online purchasing activities.

Keywords: COVID-19, business, digital marketing, online customers

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Authors: Natina Yaduma, Allan Williams, Sangwon Park, Andrew Lockwood

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This paper analyses flexible working, and the employment of migrants, as determinants of productivity in hotels. Controlling for the institutional environment, by focussing on a single firm, it analyses data on actual hours worked and outputs, on a weekly basis, over an 8 year period. The unusually disaggregated data allows the paper to examine not only inter-establishment, but also intra-establishment (departmental) variations in productivity, and to compare financial versus physical measures. The findings emphasise the complexity of productivity findings, sometimes contrasting evidence for establishments versus departments, and the positive but scale and measure-specific contributions of both the employment of migrants and flexible working, especially the utilisation of zero hours contracts.

Keywords: labour productivity, physical productivity, financial productivity, numerical flexibility, functional flexibility, migrant employment, cero-contract employment

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Authors: Zineb Abidi, Marc-Arthur Diaye

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There exists a large empirical literature concerning the relationship between corporate social responsibility (CSR) and corporate financial performance. This literature, however, applies mainly to large corporations and/or listed firms. To the best of our knowledge, the question of whether meeting CSR requirements impacts the financial performance of small and medium-sized unlisted SMEs has not so far been analyzed. This paper aims to analyze, for the first time, the effect of CSR on the financial performance of SMEs. Using an original database including 5,257 French SMEs, we show that adopting CSR practices has a positive but weak effect on a firm’s financial performance. To develop this further, we analyzed CSR practices interactions assessing the best combination of CSR components that positively influence SME financial performance. Our results show that French SMEs benefit more from their pro-social behavior when they choose a combination of CSR components best adapted to their individual characteristics.

Keywords: corporate social responsibility, financial performance, unlisted firms, SMEs

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Authors: Safak Baykal

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The purpose of this study is analyzing the relationship between self leadership and social capital of people with using Social Network Analysis. In this study, two aspects of social capital will be focused: bonding, homophilous social capital (BoSC) which implies better, strong, dense or closed network ties, and bridging, heterophilous social capital (BrSC) which implies weak ties, bridging the structural holes. The other concept of the study is Trust (Tr), namely interpersonal trust, willingness to ascribe good intentions to and have confidence in the words and actions of other people. In this study, the sample group, 61 people, was selected from a private firm from the defense industry. The relation between BoSC/BrSC and Tr is shown by using Social Network Analysis (SNA) and statistical analysis with Likert type-questionnaire. The results of the analysis show the Cronbach’s alpha value is 0.73 and social capital values (BoSC/BrSC) is highly correlated with Tr values of the people.

Keywords: bonding social capital, bridging social capital, trust, social network analysis (SNA)

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Authors: Byoungjoon Yu, Jihwan Park, Sujung Sin, Junghyun Im, Minsoo Park, Sehwan Park, Seunghee Park

Abstract:

In this paper, we propose a technology to monitor the soundness of an Internet-based bridge using a non-conductive inspection function. There has been a collapse accident due to the aging of the bridge structure, and it is necessary to prepare for the deterioration of the bridge. The NDT/SHM system for maintenance of existing bridge structures requires a large number of inspection personnel and expensive inspection costs, and access of expensive and large equipment to measurement points is required. Because current drone inspection equipment can only be inspected through camera, it is difficult to inspect inside damage accurately, and the results of an internal damage evaluation are subjective, and it is difficult for non-specialists to recognize the evaluation results. Therefore, it is necessary to develop NDT/SHM techniques for maintenance of new-concept bridge structures that allow for free movement and real-time evaluation of measurement results. This work is financially supported by Korea Ministry of Land, Infrastructure, and Transport (MOLIT) as 'Smart City Master and Doctor Course Grant Program' and a grant (14SCIP-B088624-01) from Construction Technology Research Program funded by Ministry of Land, Infrastructure and Transport of Korean government.

Keywords: Structural Health Monitoring, SHM, non-contact sensing, nondestructive testing, NDT, Internet of Things, autonomous self-driving drone

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Authors: Yi-Jung Chen, Yunshi Liu

Abstract:

To explain how followers can perceive whether or not transformational leaders are authentic on the basis of their leadership behaviors based on value-based leadership theory, this study adopts the dual-focus model of transformational leadership and evaluates leaders’ corporate social responsibility values along with followers’ perceptions of leaders’ values. Using dyadic questionnaires, the final study sample consisted of 252 followers and 43 leaders at a private firm in Taiwan. Results show that followers perceive corporate social responsibility values of transformational leaders through their group-focused leadership behaviors because such group-focused leadership is in line with these values.

Keywords: authentic transformational leadership, corporate social responsibility value, value-based leadership theory, dual-focus leadership

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Authors: Yunseok Noh, Chang-Uk Kwak, Sun-Joong Kim, Seong-Bae Park

Abstract:

Scripts are one of the basic text resources to understand broadcasting contents. Since broadcast media wields lots of influence over the public, tools for understanding broadcasting contents are more required. Topic modeling is the method to get the summary of the broadcasting contents from its scripts. Generally, scripts represent contents descriptively with directions and speeches. Scripts also provide scene segments that can be seen as semantic units. Therefore, a script can be topic modeled by treating a scene segment as a document. Because scripts consist of speeches mainly, however, relatively small co-occurrences among words in the scene segments are observed. This causes inevitably the bad quality of topics based on statistical learning method. To tackle this problem, we propose a method of learning with additional word co-occurrence information obtained using scene similarities. The main idea of improving topic quality is that the information that two or more texts are topically related can be useful to learn high quality of topics. In addition, by using high quality of topics, we can get information more accurate whether two texts are related or not. In this paper, we regard two scene segments are related if their topical similarity is high enough. We also consider that words are co-occurred if they are in topically related scene segments together. In the experiments, we showed the proposed method generates a higher quality of topics from Korean drama scripts than the baselines.

Keywords: broadcasting contents, scripts, text similarity, topic model

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Authors: Mohammed Benlemlih

Abstract:

Using a sample of 22,839 US firm-year observations over the 1991-2012 period, we find that high CSR firms pay more dividends than low CSR firms. The analysis of individual components of CSR provides strong support for this main finding: five of the six individual dimensions are also associated with high dividend payout. When analyzing the stability of dividend payout, our results show that socially irresponsible firms adjust dividends more rapidly than socially responsible firms do: dividend payout is more stable in high CSR firms. Additional results suggest that firms involved in two controversial activities -the military and alcohol - are associated with low dividend payouts. These findings are robust to alternative assumptions and model specifications, alternative measures of dividend, additional control, and several approaches to address endogeneity. Overall, our results are consistent with the expectation that high CSR firms may use dividend policy to manage the agency problems related to overinvestment in CSR.

Keywords: corporate social responsibility, dividend policy, Lintner model, agency theory, signaling theory, dividend stability

Procedia PDF Downloads 242