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We examine the effects of new regulations introduced by Korean government to cool down overheated Korean ELW markets. We also investigate whether ELWs are fairly priced as noted in the previous research. The empirical findings are as follows. Firstly, ELW was more expensive than KOSPI200 option not only before but also after the introduction of the new regulations. But degrees of the overpricedness are decreased significantly with the new regulations. Secondly, we confirm the well known facts in the literature that liquidity providers get extra profits as monopolistic providers for ELWs. Thirdly, we analyze the determinants of the differences in premiums between ELW and KOSPI200 option. The trading volume is negatively correlated with premium difference, however, timeto-maturity and market share are not statistically significant. Even though it seems that the financial regulator achieve their primary purpose to control the overheated market, we find that the new regulations have almost no effects on the overpricing problem, which implies that overpricing in ELW is not related to the market inefficiency.

The purpose of this paper is to examine how consensus and sequence of electronic word-of-mouth (eWOM) presented on online hotel review Web sites affect consumers’ attitudes toward the company and intention to stay at a hotel.

This experiment used a 2 (consensus: high/low) × 3 (sequence: positive-negative, neutral, negative-positive) between-subjects design. A total of 165 usable data samples were gathered. Both consensus and sequence were manipulated.

The study revealed that the review consensus overrides the impact of the review sequence such that when review ratings are substantially consistent, consumers’ attitudes and intentions to stay at a hotel are not influenced by the sequence of reviews.

Other variables such as prior experience with the hotel or biases toward the hotel can affect consumer reactions to such online reviews. Future studies need to reflect on such variables that can moderate or mediate the impact of eWOM consensus and sequence.

Our findings suggest that the online consumer review summary information should be used to control the customer message process and when consumer reviews conflict, managers should take note of the sequence in which consumers read the reviews.

This paper adds to the body of scholarly research related to consumer information processing and further demonstrates how individuals integrate opinions from several reviews, especially in the online context.

As social distancing procedures can be facilitated by various hotel technologies, the purpose of this paper is to investigate the extent to which consumers develop perceptions of value regarding the use of certain hotel technologies for social distancing in hotels.

Drawing from the social exchange theory, this study conceptualized the benefits of using technologies for social distancing, health risks, social rewards and privacy concerns as antecedents of value of using technologies for social distancing in hotels. The structural model was validated by using data from more than 1,000 nationwide US consumers.

Benefits and consumers’ privacy concerns of using technologies for social distancing in hotels were the strongest predictors of value. Social rewards also had a significant but relatively lower effect on value. Health risks was found to have no influence on value.

The study is the first to examine the role of technologies in mitigating the effects of coronavirus. Thus, it extends the information technology and hospitality literature by examining the role of these technologies in safeguarding individual and public health.

This study aims to summarize the critical issues in medical federated learning and applicable solutions. Also, detailed explanations of how federated learning techniques can be applied to the medical field are presented. About 80 reference studies described in the field were reviewed, and the federated learning framework currently being developed by the research team is provided. This paper will help researchers to build an actual medical federated learning environment.

Since machine learning techniques emerged, more efficient analysis was possible with a large amount of data. However, data regulations have been tightened worldwide, and the usage of centralized machine learning methods has become almost infeasible. Federated learning techniques have been introduced as a solution. Even with its powerful structural advantages, there still exist unsolved challenges in federated learning in a real medical data environment. This paper aims to summarize those by category and presents possible solutions.

This paper provides four critical categorized issues to be aware of when applying the federated learning technique to the actual medical data environment, then provides general guidelines for building a federated learning environment as a solution.

Existing studies have dealt with issues such as heterogeneity problems in the federated learning environment itself, but those were lacking on how these issues incur problems in actual working tasks. Therefore, this paper helps researchers understand the federated learning issues through examples of actual medical machine learning environments.

This paper analyzes the logistics patterns of Korea to elaborate the strategies of Korean Free Economic Zones (FEZs) in relation to Northeast Asian logistics hubs. As the surface transportation of Korea, China and Japan, is cut off by geographical factors and by political border lines, this paper confines the analysis scope to air and maritime transportation.

From the analysis of air and maritime transportation in Northeast Asian region, this paper tries to understand the cargo flow from and to Korean airports and ports by region and by commodity types, and thereby, to identify the main counterpart regions of trade by commodity types and by modes. The policy implications for the development strategy of Korean FEZs (Incheon, Busan, and Gwangyang) are described from those analyses.

The purpose of this paper is to examine how political/authoritarian regionalism affects foreign direct investment (FDI) in sub-national states in South Korea.

This paper employs statistical analysis to examine the relationship between regionalism and FDI, along with historical description of regionalism in South Korea.

The analyses suggest that not only authoritarian regionalism influence foreign investment to the region but also political regionalism matters. Sub-national states with higher authoritarian regionalism receive less foreign investment while sub-national states with high political regionalism, which imply political stability, receive more FDI than others.

The paper examined how local politics influence foreign investments in South Korea, and suggests stronger decentralization will positively influence FDI in the future.

This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93) regime, in which Korea struggled for fundamental reforms of the earlier centrally controlled state system through economic rationalization and labor flexibilization. During that juncture of Korean history, neo‐liberalization under the influence of Fordian decline was a governing theme behind the Korean economy's policy formation as well as labor agenda. This reliance of government on the neo‐liberal pillar has made an impact on the subsequent leaderships under Young Sam Kim (1993–1998) and Dae Jung Kim (1998‐present). After briefly reviewing the major aspect of Korean economy and labor problems surrounding the financial crisis of East Asia around 1998, the international influence of Fordian decline and neo‐liberalization as a Korean alternative has been discussed.

Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.

The present study aims to develop a measure of the market‐creating service innovation (MCSI) proposed by Berry et al., verify the typology, identify the relationship between MCSI and each new service development (NSD) stage, and assess the degree to which the role of customers involved in each NSD stage contributes to each type of MCSI.

A mail survey was sent to service companies in Taiwan, the target respondents being senior managers with experience in developing successful new services in the past three years. A total of 179 usable questionnaires were collected, resulting in a respondent rate of 21.2 per cent. The responses covered a wide range of service industries.

The present study confirms that the four MCSIs proposed by Berry et al. do indeed exist in practice. The degree of association between each NSD stage and each type of MCSI varies according to MCSI type. The statistical weights for customers involved in each type of MCSI are also different.

This study extends a theoretical mechanism of NSD that customers indeed contribute to service innovation, but their involvement varies depending on the characteristics of the service innovation.

Utilizing a new scale of MCSI, service providers can evaluate what types of MCSI are a better fit for their business.

This study provides a better understanding of MCSI, which helps service providers to properly allocate their limited resources. In addition, this study clarifies the degree to which the values of customer involvement in NSD contribute to MCSI.

The weapon system of The Navy is the small quantity producing system on multiple kinds. It is consisted of various equipment and the subordinate parts of those which can repair the damaged part. The operating procedure concerning warship's repair parts managed under these systems is as follows. Firstly, if demand of repair parts occurs from warship which is the operating unit of weapon, then the Fleet(the repair & supply support battalion) is in charge of dealing with these requests. If certain request from warship is beyond the battalion's capability, it is delivered directly to the Logistic Command. In short, the repair and supply support system of repair parts can be described as the multi-level support system. The various theoretical researches on inventory management of Navy's repair parts and simulation study that reflects reality in detail have been carried out simultaneously. However, the majority of existing research has been conducted on aircraft and tank's repairable items, in that, the studies is woefully deficient in the area concerning Navy's inventory management. For that reason, this paper firstly constructs the model of consumable items that is frequently damaged reflecting characteristics of navy's repair parts inventory management using ARENA simulation. After that, this paper is trying to propose methodology to analyze optimal inventory level of each supply unit through OptQuest, the optimization program of ARENA simulation.