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This study investigates the relationship between outside directors, managerial compensation, and firm performance in the Korean insurance industry.

The authors employ a simultaneous equation framework by using three-stage least squares (3SLS) to address the endogeneity problems that could result from the joint determination of outside directors, firm performance, and executive compensation in Korean insurance companies.

The authors find that the ratio of outside directors on the board is negatively associated with insurance firm's value and financial profitability. In addition, this study's evidence shows that greater representation on the board by outside directors leads to a higher level of executive pay. In particular, the authors provide evidence that variable compensation scheme and outside directors who have backgrounds in the legal profession and former high-ranking government officials drive this study's main results.

This study adds to the literature by first demonstrating the interaction effects between outside directors, firm performance, and executive compensation in the Korean insurance industry. Unlike previous studies that typically focus on US companies, the authors study the Korean insurance sector that is an emerging power in the global insurance market, ranking seventh in terms of total premium volume, and show that the Korean insurance firm's outside directors system does not work in the manner that it is intended to function.

Although FCC policy has mostly focused on broadcasters, the digital transition of television has involved a number of other players, notably cable television, DBS, and other multi‐channel video providers (MVPDs). What have been the economic effects of this transition on these various industry players and on viewers? The paper aims to answer this question.

This paper assembles an historical database to compare changes over time in consumer spending, television advertising revenue and related economic data extending back to the 1950s.

The authors show that non‐broadcast suppliers of TV programming, especially cable operators, have been able to take much greater economic advantage of the digital television transition than have broadcasters. Cable and DBS systems have used digital technology to greatly expand the amount of programming available and to more efficiently price discriminate on the basis of program quality – including the direct sale to consumers of broadcast and other HD programming. The result has been rapidly rising cable and DBS revenues since the mid‐1990s, and a general shift from advertiser to direct payment support for television services. Overall, digital transition has enhanced the economic viability of cable and DBS delivery, and decreased that of broadcasting. It is evident that consumers have much higher quality and variety of programming available as a result, though usually at higher prices.

The statistical analysis of this paper has been broad. Other factors have undoubtedly affected the aggregate trends.

The overall pattern of television industry trends makes evident that FCC digital conversion policies have worked to the disadvantage of the traditional broadcast model.

Applied a hybrid approach using genetic algorithms (GAs) for a case-based retrieval process in order to increase the overall improved cost accuracy for a case-based library. The paper aims to discuss this issue.

A weight optimization approach using case-based reasoning (CBR) with proposed GAs for developing the CBR model. GAs are used to investigate optimized weight generation with an application to real project cases.

The proposed CBR model can reduce errors consistently, and be potentially useful in the early financial planning stage. The authors suggest the developed CBR model can provide decision-makers with accurate cost information for assessing and comparing multiple alternatives in order to obtain the optimal solution while controlling cost.

The system can operate with more accuracy or less cost, and CBR can be used to better understand the effects of factor interaction and variation during the developed system’s process.

The purpose of this paper is to identify the critical success factors (CSFs) to implement integrated project delivery (IPD) systems in the Korean construction industry.

This study categorized potential CSFs and analyzed them using factor analysis and multiple regression analysis to choose the best ones based on responses from Korean construction experts.

In total, 29 potential factors were selected and categorized into 7 CSFs using factor analysis.

The outcomes of the study are useful as a reference for applying the IPD system in different developing countries and mid-sized construction industries.