We examine how the COVID-19 pandemic affected the mergers of special purpose acquisition companies (SPACs) in Korea, where SPACs—since their introduction in 2010—have played a significant role in private company public listings. After the COVID-19 outbreak, SPACs were less likely to merge,...

The Korean government doubled the total assets threshold for its large business group (chaebol) designation policy in 2016. Exploiting this policy change, I examine the value implications of a firm’s chaebol affiliation. My results suggest that firms affiliated with business groups that had...

This paper investigates how effective safety education reduces workforce risks by using an establishment-level dataset in South Korea. We focus on identification and estimation of causal effects. Since provision of safety education depends on establishment’s decision, the main variable of...

Global markets for OTT (Over-the-Top) services are growing. Focusing on OTT services in Korean media markets, this study explores technological, industrial, and policy factors in OTT markets. Specifically, platform competition and regulatory classification for market entry regulation, global OTT...

Broadband infrastructure is a key component of the knowledge economy. Broadband connections on both fixed and mobile networks are becoming an indicator of the knowledge economy. Employing the largest secondary data set, this study examines adoption factors of fixed broadband. The result of...

Broadband communications lie at the heart of the developing information society. We employ 1999-2005 OECD data to analyze the primary determinants of fixed broadband adoption. We find that local loop unbundling, ICT infrastructure, population density, and Internet content are all influence fixed...

Broadband infrastructure is a key component of the knowledge economy. Broadband connections on both fixed and mobile networks are becoming an indicator of the knowledge economy. Employing the largest secondary data set, this study examines adoption factors of fixed broadband. The result of...

This study examines how the effect of uncertainty on capital investment varies between focused firms and conglomerate segments. One advantage of conglomeration is that it gives segments access to the conglomerate's internal capital market, making them less likely to be financially constrained....