- E-ISSN2233-5382
- KCI
E-ISSN : 2233-5382
Vol.11 No.3
Abstract
Purpose: This study reexamines the test on the pricing of accruals quality. Theory suggests that information risk is a priced risk factor. Using accruals quality as the proxy for information risk, researchers have tested the pricing of information risk. The results are inconsistent potentially because of the information shock in the realized returns that are used as the proxy for expected returns. Based on this argument, this study revisits this issue excluding information-shock-free measure of expected returns. Research design, data and methodology: This study estimates expected returns using the vector autoregression model. This method extracts information shocks more thoroughly than the methods in prior studies; therefore, the concern regarding information shock is minimized. As risk premiums are larger in recession periods than in expansion periods, recession and expansion subsamples were used to confirm the robustness of the main findings. For the pricing test, this study uses two-stage cross-sectional regression. Results: Empirical results find evidence that accruals quality is a priced risk factor. Furthermore, this study finds that the pricing of accruals quality is observed only in recession periods. Conclusions: This study supports the argument that accruals quality, as well as the pricing of information risk, is a priced risk factor.
Abstract
Purpose: As nonprofit organizations have made strides in international development, ensuring financial resources has become pivotal to determine what nonprofits strive for and how they perform with the budget generated without efforts for profit-making. The purpose of this research aims to investigate the determinants of donation intention that are affected by television fundraising campaigns in order to improve financial sustainability. This study applied the effects of emotional sympathy, economic value, accountability, relevance, and sustainability on donation intention. Research design, data, and methodology: This study collected data via an online survey by classifying respondents based on donation experiences and applied statistical analyses such as factor analysis, regression, and ANOVA. This study selected television fundraising campaigns aligned with criteria of the Sustainable Development Goals (SDGs). Results: The results of this study showed that emotional sympathy was a dominant variable regardless of previous donation experiences, while economic value was significant for inexperienced donors. Conclusions: The results provide implications to nonprofit organizations for fundraising as to what aspects need to be addressed in order to draw donors' motivation for giving behavior. Given efforts for successful implementation of development agenda, it is fundamental to establish financial sustainability of nonprofit organizations and build up public awareness.
Abstract
Purpose: Geographical relocation has been conducted to alleviate overcrowding and to support balanced regional development in many countries. Previous studies have seldom examined the effectiveness of relocation on job and life dissatisfaction, particularly in the public sector. The purpose of this study is to investigate the determinants of relocation on job and life dissatisfaction. Proposed research questions include the following: i) do working conditions in the new workplace and interactivity affect job dissatisfaction? ii) do social infrastructure and social activity in the new location affect life dissatisfaction? and iii) is there a relationship between job and life dissatisfaction? Research Design, data, and methodology: The study collected data via an online survey and applied statistical analyses such as factor analysis, regression, and ANOVA. Results: The results of this study found that proposed determinants excluding mobility inefficiency and decision-making affect job and life dissatisfaction. The results also showed that there are relationships between job and life dissatisfaction. Conclusions: The results of this study provide both managerial and policy implications of relocation for the public sector. The results of this study implied that better policy should be designed to increase job and life satisfaction that also accounts for the realities of relocation.
Abstract
Purpose: Agriculture, which is heavily influenced by climate conditions, is one of the industries most affected by climate change. In this respect, various studies on the impact of climate change on the agricultural market have been conducted. Since climate change is a long-term phenomenon for more than a decade, long-term projections of agricultural prices as well as climate variables are needed to properly analyze the impact of climate change on the agricultural market. However, these long-term price projections are often major constraints on studies of climate changes. The purpose of this study is to analyze the impacts of climate changes on the Korean onion market using ex-post analysis approach in order to avoid the difficulties of long-term price projections. Research design, data and methodology: This study develops an annual dynamic partial equilibrium model of Korean onion market. The behavioral equations of the model were estimated by OLS based on the annual data from 1988 to 2018. The modelling system is first simulated to have actual onion market conditions from 2014 to 2018 as a baseline and then compared it to the scenario assuming the climatic conditions under RCP8.5 over the same period. Scenario analyses were simulated by both comparative static and dynamic approach to evaluate the differences between the two approaches. Results: According to the empirical results, if the climate conditions under RCP8.5 were applied from 2014 to 2018, the yield of onion would increase by about 4%, and the price of onion would decrease from 3.7% to 17.4%. In addition, the average price fluctuation rate over the five years under RCP8.5 climate conditions is 56%, which is more volatile than 46% under actual climate conditions. Empirical results also show that the price decreases have been alleviated in dynamic model compared with comparative static model. Conclusions: Empirical results show that climate change is expected to increase onion yields and reduce onion prices. Therefore, the appropriate countermeasures against climate change in Korean onion market should be found in the stabilization of supply and demand for price stabilization rather than technical aspects such as the development of new varieties to increase productivity.
Abstract
Purpose - This study examined the relationship between individual creativity and its related variables to observe how individual creativity contributes to organizational performance. In addition, this study strived to explore how to maximize the utilization of individual creativity and innovate the structure of the organization itself so that teams and organizations can respond more effectively to new rising trends. this study aimed to examine whether the value congruence between individuals and organizations (propensity congruence, goal congruence has a significant impact on knowledge sharing and innovation behavior as dependent variables by exerting individual creativity and synergy as independent variables. Research design, data and methodology - SPSS 24.0 program were used to analyze the data. Descriptive Statistics and correlation analysis were performed, and the reliability factor (Cronbach's α) was calculated. Afterwards, we analyzed the moderating effects of structural equation model analysis and hierarchical regression analysis. The number of samples used in the study were 309 copies. Results - First, Individual creativity had a positive effect on knowledge sharing and innovative behavior. In other words, it was confirmed that decision-making processes fused with individual creativity could create an atmosphere of knowledge sharing and transform the organization. Second, value congruence adjusted the influence of individual creativity on knowledge sharing and innovation behavior. Conclusions - First, it is important for managers to recognize the value and secure the pool of creative talents who will be a potential future basic source of organizational success and competitive advantage. Second, managers should be able to identify those with creative talents and expertise, and use them to increase their knowledge sharing performance, while also developing emotional and motivational creativity. Third, in order improve knowledge sharing performance, managers should pay attention to the emotional aspect of creativity. Fourth, managers should strive to create an environment that is beneficial for the reinforcement of individual self-management capabilities. Fifth, managers should be able to develop decision-making processes to develop potential creativity and encourage creative thinking, opinions, or solutions. Sixth, managers should promote the dissemination and integration of new knowledge based on the creative views and attitudes of team members.
Abstract
Purpose: Most of all studies regarding corporate social responsibility have been dealing with its direct performance. Many previous studies provided the evidence that corporate social responsibility activities directly affect firms' competitiveness or corporate reputation. However, there are no studies regarding the role of social capital between corporate social responsibility and firms' competitiveness. The present study aims to examine a mediating role of social capital between corporate social responsibility and corporate reputation. Research design, data and methodology: The structural equation model integrating corporate social responsibility, social capital, and corporate reputation was proposed with three hypotheses. Questionnaire including 15 question items for three concepts was designed. Data for testing hypotheses were collected from students and staff who had experienced the social responsibility activities of Korea Hydro & Nuclear Co. Ltd. SPSS and SmartPLS were used to analyze data. Results: All three hypotheses were supported at the significance level of 0.01. Corporate social responsibility have a significant influence on social capital as well as corporate reputation. Social capital plays a mediating role in the relationship between corporate social responsibility and corporate reputation. Conclusions: The present paper identified a missing link between corporate social responsibility and corporate reputation by validating an indirect effect of corporate social responsibility on corporate reputation through social capital. The present study contributes to finding the indirect link between corporate social responsibility and corporate reputation. Implications for academics and practitioners. The research model can be extended to analyze the relationship between corporate social responsibility and its performance. The present study sheds light on identification of a new role of social capital. Managers of firms have the opportunity to recognize the fact that investment recovery of corporate social responsibility results from social capital and corporate reputation in long-term rather than short-term. The results of this study offers an insight that managers can enhance customer loyalty. The process linking corporate social responsibility to corporate reputation through social capital implies that firms can realize spiritual marketing delivering authentic storytelling through corporate social responsibility. The present study has a limitation for generalizing of research results because the sampling came from a case of firm.