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Weather conditions are already influential and continue to give economic shocks. Climate changes incrementally draw attentions on evaluating the relations of economic risks. Risks associated with climate change will lead to long-term uncertainty and damage caused by climate change is irreversible. So it is argued that extreme weather or weather conditions affecting the inner emotions or mood of investors ultimately affect the investment decision. On the other hand, according to an efficient capital market theory based on rational expectations hypothesis, share prices, even if weather conditions could affect the transient phenomenon psychological changes of investors, are not affected because they reflect the fundamental value of a company. Contrary to these expectations, Saunders (1993) provides evidence that the weather effect occurs in the US stock market. He argues that a large amount of stock returns are significantly lower when the weather condition is clouded. Zou et al. (2005) also criticizes policy-makers and researchers does not recognize climate change does not directly affect the financial market and is not subject to be regulated. According to psychologists, a continuation of a long-term and extreme cold hot weather leads that people make unthoughtful decisions. These arguments argue that weather conditions, such as temperature, sunlight hours and cloudiness may affect the investment decisions of market participants. This study empirically investigates weather effects on Korean industrial stock returns volatility based on GJR-GARCH model. We focus on the issue about whether the weather effect is associated with foreign investor’s transactions which should not be affected by the domestic weather conditions. To explore the weather effects, we employ 4 types of daily weather indicators (precipitation, sunshine hours, wind speed, and snow) during the period from 2000 to 2012. Our empirical evidence shows that significance of the weather effect in Korean stock market is lower by including foreign investor’s transaction variables. However, either strengthening or weakening the weather effect on stock returns and market volatility depends on types of weather indicators and industrial sectors.

Recently, the importance of natural gas is on the increase. The natural gas has become an abundant energy source because of advances in drilling technology. Specially, The development of shale gas has made traditional resources replace. Moreover, natural gas as a major energy source is much better “environment-friendly” than fossil fuels. Being used, natural gas produces and emits much less CO2 and pollutants than oils and coals. As the efficient management and use of natural gas is a meaningful topic, we focus on the efficient management of Korean city gas in terms of return on assets and capacity utilization. Accordingly, the principal aim of this paper is to measure and decompose return on assets in city gas firms. In particular, the paper confirms that change in return on assets(ROA) is influenced by productivity change, price change, change in capacity utilization, and potential asset turnover. Actually, change in ROA is decomposed using linear programming methods with thirty-one city gas firms for 2012-2014. the main empirical results for the same periods are presented being separated into two periods. Average ROA change(1.871) was decomposed into the inner factors such as average price change(1.077), average productivity change(1.146), average capacity utilization change(0.990), and average potential asset turnover(1.082), respectively for 2012-2013. ROA change was greatly dominated by productivity change. Likewise, Average ROA change(0.743) is explained by average price change (0.782), average productivity change(0.947), average capacity utilization change(1.040), average potential asset turnover (0.926), respectively for 2013-2014. In this period, ROA was greatly influenced by price change. As shown in the results, ROA is mostly influenced by productivity change, price change, capacity utilization change, and potential asset turnover. But the change of capacity utilization was not improved every year. So city gas firms need to increase ROA through the use of excess capacity and the reallocation of inputs and outputs.

This study explores a small but growing stream of research that focuses on nonphysical types of workplace mistreatment - abusive supervision. Abusive supervision is defined as “subordinates’ perceptions of the extent to which their supervisors engage in the sustained display of hostile verbal and nonverbal behaviors, excluding physical contact.” In this study we attempt to study the negative effects of abusive supervision and moderating roles of subordinates’ perceived job security. We focus on subordinates’ knowledge creation and knowledge sharing as outcome variables because of their importance in the changing world of business. Abusive supervision refers not to bullying or physical harrassment of supervisors, but to the behaviors which are not apt to ordinary manners such as formal and considerate behaviors. These type of behaviors usually have clear objective and purpose to achieve, but the way to supervise and deliver influence may easily irritate and annoy the employees and it may lead to negative side effects of supervision. Obviously, changing environment leads to unstable status or perception of employees on their job security. Moreover this unstability of employees’ perception or attitudes may seriously hinge their creative behaviors and vitality. In short, we assume that the more unstable on employees’ job security, the less creative behaviors of them. Besides, employees’ perception of job stability may have some positive effects in a way that it can buffer the negative perception of supervisors’ abusive behaviors. following these research questions, we develop 6 hypotheses and research model. Using a sample of 347 organizational members(subordinates), we hypothesized that supervisors’ abusive supervision would be negatively associated with subordinates’ knowledge creation and knowledge sharing. Moreover, we hypothesized that these relationship would be moderated by subordinates’ perception of job security in a way that the negative effects of abusive supervision will be bigger when the subordinates’ perceive job insecurity. Perceived job security was hypothesized that it will have positive association with knowledge creating and knowledge creation. With hierarchical regression analysis we tested those hypotheses and the results show that all of the hypotheses are supported.

Startup supporting policy in Korea has been traditionally implemented by top-down policy from government. But many of diverse and effective startup supporting policy in foreign countries has been implemented by bottom-up policy from private and public joint projects, so that able to use know-how and resources of private incubators and venture capitals. And there are also following of systemic support from government. For this reason, Korea instituted TI(Technical Incubator) program of Israel in year of 2013. This program called TIPS(Tech Incubator Program for Startup), shows notable effectiveness compared to existing top-down policy. More specific points, this paper is to suggest a prime example startup policy compared to several foreign case (TI program of Israel, Startup America Initiative, and open innovation case of Japan) In Korea, corporate supporting policy shows a tendency to be led by conglomerate. In the past, Korea was one of the poorest in the world because of occupied period and the Korean War. But after decade, Korea accomplished very rapid economic growth by massive commitment of resources for conglomerate what being initiated by a government policy. Being affected by corporate supporting policy, venture and startup supporting policy is also led by government. But it causes several problems as following. First, excessively concentrated to qualitative growth, it causes lack of internal stability. Second, the moral hazard of startup companies was found. And excess in policy bring about effectiveness matters. Finally, there’s most essential problem which is deficient of inducement for private incubators and venture capitals. To solving described above problems, TIPS program is initially instituted and properly perform a function. This paper is to suggest necessity of paradigm shift from top-down to private and public joint startup supporting policy. And it describes successful introduction process of TIPS, and figure limitation factor of this program out. Finally it describes the problem solving and how to improve this program, so that can increase the productivity in the startup supporting policy. This paper based on the case study of reference and papers concerning to startup policy, related research trend, and research report from relative organizations.

It is well known that dealing with technical aspects of new product idea is a core role to R&D. On the other hand, the core role of salespeople is to sell product or share customer's technological needs to R&D people who are in charger of developing products. Although salespeople in high technology is also contributing by technological information and knowledge sharing, existing studies have not shown enough of factors which give positive effect on innovative activity in technology innovation process so far. So, the main goal of this study is to find out what factors can give positive effect on innovative activity. This study has been done by empirical study examining 121 semi-conductor salespeople in Korea. Several factors were also inspected which give positive impact on innovative activity like generation of technological idea for product. The first is salespeople's competence(prior knowledge) and it gives positive impact on generation of technological idea for product. The second is salespeople's informal R&D activity and it also gives positive impact on generation of technological idea for product. The contribution of this study is that it is clearly showed for salespeople to involve in technology innovation process. Especially, salespeople's informal R&D activity gives positive effect on innovative activity is the most important study result. In addition, by extending the domain of R&D and applying it to salespeople, it was verified there is a positive causality between salespeople and innovative activity. So, further studies on innovative activities played by salespeople in technology innovation process are needed.

This study aims to examine whether venture capital plays its original role by investigating the impact of the investment of venture capitals on technology commercialization performance of small and medium enterprises (SMEs). We especially focus on SMEs who perform national R&D projects because we expect SMEs often use national R&D projects as a means of attracting relatively long-term resources for technology commercialization. The findings show that venture capital investments have a positive effect on the size of national R&D projects, although venture capital investments do not have a direct effect on economic and technical performance. Regarding the size of national R&D projects, there is a positive relationship between the size of national R&D projects and the number of patents, which is the output of technical performance. Overall, the results suggests that venture capital investments help SMEs succeed technology commercialization indirectly, considering that venture capital investments have a positive impact on the size of national R&D projects, and the size of national R&D projects have a direct effect on the technology commercialization in turn.

Workplace spirituality has been emphasized as one of the alternatives to solve several problems caused by rapid changes surrounding individuals and organizations in modern society. There are many assertions and study results that fulfilling employees’ spiritual needs apart from power, profitability, productivity which are traditional way of company’s pursuits, will make them fulfill their wholeselves and feel the fundamental meaning and purpose of their lives followed by positive outcomes in both individual and organizational sides. The main objective of this study is to examine the impact of servant leadership on workplace spirituality(WS), the impact of WS on organizational citizenship behavior, and the mediating effect of WS between servant leadership and organizational citizenship behavior in domestic business circumstances. Survey method was used to prove the study hypothesis using data collected from employees(n=418) working for companies in Seoul and some other capital area, and SPSS Statistics 23.0 program is used in analysis. The results are as follows; firstly, servant leadership has positive effects on all the lower dimensions of WS- inner life, meaningful work, sense of community. Secondly, inner life, meaningful work, sense of community have positive effectson organizational citizenship behavior respectively. Thirdly, servant leadership has positive effects on employees' organization citizenship behavior. Lastly, inner life, meaningful work, sense of community have mediating effects between servant leadership and organizational citizenship behavior respectively. The implications of this study are as follows; firstly, it proved the effect of servant leadership on employees' workplace spirituality in domestic business circumstances for the first time, which implies the level of inner life, meaningful work, and sense of community are affected by leadership style. Therefore, the companies will need to train leaders and HR managers to develop servant leadership skills, and it will lead to increase organizational performance as a result. Secondly, this study diversified workplace spirituality related studies which is at the beginning stage. By putting workplace spirituality as a mediating variable, it tried to find out the leading variable as well as the result variable. Thirdly, this study showed the organizations should have attention on the effect of workplace spirituality to achieve the organizational goal and to increase organizational productivity.

The matching principle in conventional accrual basis accounting, rather than cash basis accounting, recognizes accounting income by recording related expenses at the period when revenues are recognized. Accounting methods with high level of matching principle can be defined as neutrality in accounting in the sense that an impartial point of view is maintained in revenue and expense recognition. According to previous studies, it has been reported that the higher the level of matching principle is, the higher the quality of accounting income becomes. Thus, by analyzing the effects of the level of matching principle on the firm specific stock returns, post-earnings-announcement drift, this study examines earnings quality of matching principle is attributable to post-earnings-announcement drift. Previous studies find that earnings quality of earnings persistence is positively correlated with post-earnings-announcement drift. Thus, another estimate of earnings quality, the degree of matching revenues to expenses, is hypothesized to have the positive effect on post-earnings-announcement drift. Our results are generally consistent with the hypothesis. Findings show that firms with higher degree of revenue-expense matching have abnormal stock returns 10 days post-earnings announcement. Whereas over 10 days post-earnings announcement fail to show excessive stock returns. Some caveats can be attributable to these findings. The way we measure the degree of matching principle by the adjusted R² from revenue to expenses may not be adequate, and random walk model to estimate expected earnings may capture the properties with considerable errors. Nonetheless, over 2,000 observations in the period of 8 years can alleviate such errors in our results.

This study investigates into the regional total factor productivities movements in Korea, with a special focus on Chungnam province. The main findings of this study can be summarized as follows. First, when we set the average level of total factor productivity of provinces of Korea’s manufacturing sectors as 1.00, then the relative productivity of Chungnam turns out to be 1.00, which is exactly the same as the average level(1.00). If we subdivide the manufacturing sector into 24 sub categories, then Chungnam’s productivity shows relatively higher level than other provinces in Pharmaceuticals·Medicinal·Chemicals(1.14), Other Manufacturing(1.11), Electrical Equipment(1.09), Leather·Luggage·Footwear(1.08), Other Machinery and Equipment(1.07) etc. However, it shows relatively lower levels in Textiles(0.88), Chemicals·Chemical Products(0.97), Basic Metal Products(0.89), and Medical·Precision·Optical Instruments. Second, we can find the productivity level of Chungnam has increased sharply from 0.88 in 1999 to 1.00 in 2014, following Daejeon, Kangwon, Kwangju and Seoul. However, the sharp increase of productivity of Chungnam seems to be stagnated since 2010. We infer the sharp increase of productivity of Chungnam until 2009 due to the productivity increase in Printing, Coke and Refined Petroleum Products, Chemicals and Chemical Products, Pharmaceuticals and Medicinal Chemical, Other Non-Metallic Mineral Products, Electronic Components and Products, Electrical Equipments etc. However, the stagnation of productivity since 2010 seems to be due to the productivity standing still of the above high productivity growth sectors and the productivity decline of the Leather·Luggage Footwear·Other Non-Metallic Mineral Products, Medical Precision and Optical Instruments etc. Third, we can hardly find any significant evidence of technical efficiency differences among the regions, even if we estimated them by various methodologies such as stochastic production frontier analysis, Malmquist productivity index decomposition analysis etc. This seems to be due to the fact that same company operates in different regions by its branches and as a highly centralized and small country, even with provincial government system, the institution and business environment of each province is hardly different in individual regions in Korea. This phenomenon appears to be more deepening in recent years.

This study examined how employee job engagement would mediate the relationship between employee person-job fit and coworker job engagement and how coworker exchange would moderate the relationship between employee and coworker job engagement. Hypothesis 1: An employee's person-job fit will be positively related to his or her coworker's job engagement. Hypothesis 2: An employee's person-job fit will be positively related to his or her own job engagement. Hypothesis 3: An employee's job engagement will be positively related to his or her coworker's job engagement. Hypothesis 4: An employee's job engagement will mediate the positive relationship between his or her own and a coworrker's job engagement. Hypothesis 5: As an employee's coworker exchange is higher, the positive relationship between his or her own and a coworker's job engagement will be strengthened. Data were collected from 114 Chinese employee dyads working in private and public companies/organizations located at the mainland China. The study results revealed that employees' person-job fit was positively related to their own job engagement level. In turn, this job engagement level was also positively related to those employees' coworker job engagement level. Examining the mediating role of employee job engagement, it was found that the relationship between employee person-job fit and coworker job engagement level was mediated by employee job engagement level. Finally, the moderating role of coworker exchange was also found, as expected, such that, when coworker exchange level was higher, the relationship between employee and coworker job engagement level was weaker. These study results, which supported all the study hypotheses, would help enhance our understanding on the process of job engagement formation and would provide practical implications of how to promote employee job engagement level in Chinese workplaces.