Information Sharing As Source Of Synergy Creation In Corporate Diversification: An Empirical Analysis Of Korean Banking Industry

This paper deals with one of the major issues in strategy and finance research streams i.e. the strategic use of valuable information among different business units of diversified firms. In particular, the paper studies the effect of information sharing between a commercial bank and a securities firm under the same financial group on analysts’ forecasts using Korean data over the period of 2000-2008. We find that the mean (median) EPS forecast error issued by independent analysts is 2.71% (1.34%) while that issued by bank-affiliated analysts is 2.09% (1.02%). The difference remains statistically significant even after controlling for company and analyst characteristics in multivariate analyses. The results are consistent with superior information hypothesis in that the bank-affiliated analysts make more accurate and conservative recommendations using the information generated by the commercial banks about the companies covered. This evidence suggests the efficiency of related-type business diversification which tends to foster the exchanges of value-generating information among business units

The Influence Of Credibility On Satisfaction With Supplier Performance In The Inter-Organizational Relationship

Retailers facing volatile environments feel the various levels of satisfaction with suppliers’ performance. Existing literature suggests that the social context in which exchange parties are deeply embedded should be considered for estimating the effect of environments on performance. It is proposed, in this paper, that the level of trust (high and low) affects the retailer’s level of satisfaction with supplier performance in volatile environments. The empirical results from US retailers indicate that retailers’ satisfaction with supplier performance is negatively associated with environmental volatility when a retailer’s trust in its supplier is low, but it has no relationship with environmental volatility when there is high trust

The Effect Of Group-Orientation Culture On Inter-Organizational Cooperation Mechanisms

Cooperation between exchange parties becomes a center for inter-organizational relationship. Cooperation reduces the attractiveness of opportunistic behavior that seeks short-term benefits, so it has been identified as a key factor for inter-organizational cooperation. Although several factors affecting cooperative relationship have been studied, the majority of inter-organizational studies are conducted on the basis of an individualistic perspective view of Western culture. This study introduces group-orientation culture and tries to enhance the understanding the effect of group-orientation culture on inter-organizational cooperation in the relationship between exchange parties. This study suggests that group-orientation culture influences the generation of informal cooperation between exchange parties. When a party expects harmonious relationship with its partner, the party develops the relational norm through accepting short-term disadvantages that are expected to be balanced out by longer-term advantages. However, exchange parties with a low group-orientation culture do not rely on formal cooperation mechanisms

Long-Term Orientation As A Determinant Of Relationship Quality Between Channel Members

This study assesses the effects of Long-Term Orientation culture on inter-organizational trust and conflict. This research examines the role of one important cultural factor, namely long-term orientation, as it relates to contractual relationships between manufacturers and their suppliers. As LTO cultures have become accepted as a crucial factor for describing nations, this study should prove invaluable to our understanding of inter-organizational relationships affected by differing levels of long-term orientation. The authors investigate the effects of LTO in the relationship between a manufacturer and its supplier. These results reveal that, LTO culture significantly affects the relationships between channel members. In particular, high LTO culture positively affects the generation of trust. Whereas high LTO culture suppresses the conflict between channel members, low LTO cultures do not suppress conflict between channel members

Modelling and Simulation of a River-Crossing Operation via Discrete Event Simulation with Engineering Details

From a military standpoint, a river is an area that should be avoided in a potential engagement because of lack of cover and the necessity of dividing the unit while crossing. Thus, a key point of a river-crossing operation is speed. Many efforts have been made to enable faster river crossing by improvement of tactics, techniques, and procedures (TTP). However, improvements in TTP are evaluated by modelling and simulation much less frequently than are the toe-to-toe engagements between two opposing forces, and to our knowledge, this is the first simulation model of brigade-level river crossing with engineering details. This study presents a simulation model of the river-crossing operation, applies real world parameters, and evaluates which tactics are preferable in a particular operational environments. This analysis has led to new operational methods of river crossing that have been suggested by experienced subject-matter experts. For instance, the current Republic of Korea Army Field Manual dictates to rotate river-crossing rafts in all situations, but our experiment suggests that no rotation is preferable when the width of river is less than 400 m based on the statistical analyses, which includes the regression-based meta-modelling and the ANOVA, of our simulation model that embodies the engineering details of river-crossing equipment.Defence Science Journal, Vol. 65, No. 2, March 2015, pp.135-143, DOI:http://dx.doi.org/10.14429/dsj.65.814

The Distribution Strategy Of A Representative Fair Trade Organization In Korea: The Case Of Beautiful Coffee

This case study analyzes the distribution strategy of Beautiful Coffee, a leading fair trade organization in Korea. Because of their focus on matters of public interest, fair trade organizations often face financial difficulties, and such difficulties can limit their growth and force them to pursue differentiated distribution strategies. The results indicate that Beautiful Coffee can serve as a good role model for fair trade organizations and have important practical implications for firms pursuing sustainable growth as a social enterprise

Plasmacytoid Dendritic Cells Contribute to the Protective Immunity Induced by Intranasal Treatment with Fc-fused Interleukin-7 against Lethal Influenza Virus Infection

Developing a novel vaccine that can be applied against multiple strains of influenza virus is of utmost importance to human health. Previously, we demonstrated that the intranasal introduction of Fc-fused IL-7 (IL-7-mFc), a long-acting cytokine fusion protein, confers long-lasting prophylaxis against multiple strains of influenza A virus (IAV) by inducing the development of lung-resident memory-like T cells, called TRM-like cells. Here, we further investigated the mechanisms of IL-7-mFc-mediated protective immunity to IAVs. First, we found that IL-7-mFc treatment augments the accumulation of pulmonary T cells in 2 ways: recruiting blood circulating T cells into the lung and expanding T cells at the lung parenchyma. Second, the blockade of T cell migration from the lymph nodes (LNs) with FTY720 treatment was not required for mounting the protective immunity to IAV with IL-7-mFc, suggesting a more important role of IL-7 in T cells in the lungs. Third, IL-7-mFc treatment also recruited various innate immune cells into the lungs. Among these cells, plasmacytoid dendritic cells (pDCs) play an important role in IL-7-mFc-mediated protective immunity through reducing the immunopathology and increasing IAV-specific cytotoxic T lymphocyte (CTL) responses. In summary, our results show that intranasal treatment with IL-7-mFc modulates pulmonary immune responses to IAV, affecting both innate and adaptive immune cells. ? 2017. The Korean Association of Immunologists.112Ysciescopuskc

Development of Korean Academy of Medical Sciences Guideline on the Skin and Related System: Impairment Evaluation of Disfigurement in Skin and Appearance

The purpose of this study is to develop new standards for the disability evaluation with reference to existing laws and other study reports regarding disabilities for the rational evaluation of the diverse kinds of disfigurement in appearance and skin. Three plastic surgery specialists and 3 dermatology specialists developed a new standard for the disability evaluation which is appropriate for circumstances in Korea. Disability rate does not take into account the social occupation, gender or age of the patient, but instead, evaluate the Activity of Daily Living and the social adaptability of the appearance and skin disfigurement regardless of the balance between different disabilities. We tried to include most cutaneous disorders and categorized them into 3 types; congenital (Type 1), acquired (Type 2) as well as any permanent skin impairment sequelae of disease, trauma or treatment process (Type 3). For type 3 disorders, we tried to rate the score according to the size of involved skin lesion. The disability rate is determined by dividing the disability class into 8 steps based on the seriousness of each type of disability