We investigate the characteristics of firms that choose between three different methods, IPOs, sellouts, or reverse takeovers, to obtain exchange listings using Korean data over the period of 2000–2010. We document that VC-backed firms tend to choose reverse takeovers rather than IPOs or...

The instrumental benefits of firm’s CSR activities are contingent upon the stakeholders’ awareness and favorable attribution. While social media creates an important momentum for firms to cultivate favorable awareness by establishing a powerful framework of stakeholder relationships, the...

Through an empirical investigation of 11 Korean firms before and after the Asian financial crisis, the author examines the impact of increasing external market pressures on internal labor market (ILM) practices. In addition, the merits of ILMs are tested by capturing the reactions of...

This is one of the first empirical studies of the relationship between a developing country's system of intellectual property protection and the volume and composition of U.S. foreign direct investment in that country. Based on data obtained from almost one hundred U.S. firms regarding their...

The European experience offers three possible models for regional integration: a free trade arrangement, a single market, and a common currency area. This paper examines the effect of regional integration on total factor productivity to assess the long-run growth implications of each model. The...

This study analyzes total factor productivity in manufacturing industries for a sample of OECD countries. The estimates of Malmquist indexes clearly indicate that research and development (R&D) capital is an important determinant of productivity growth in manufacturing industries. The empirical...

In this paper we examine the technical efficiency of firms in the iron and steel industry and try to identify the factors contributing to the industry's efficiency growth, using a time-varying stochastic frontier model. Based on our findings, which pertain to 52 iron and steel firms over the...

This paper considers a model of precautionary behavior under health uncertainty and derives testable equations to be used in empirical analysis. Our empirical findings based on data from Korea provide evidence of precautionary motive for saving and medical expenses that arises from health...