Effects of authentic leadership on follower performance in corporate social responsibility activities

We investigated the effects of authentic leadership on follower performance in corporate social responsibility (CSR) activities by drawing upon social identity theory. With data from 340 participants who took part in CSR activities in a large Korean firm, we tested the hypotheses that team identification would mediate the positive relationship between authentic leadership and follower performance, and that psychological safety would positively moderate this relationship. We used the PROCESS macro (Model 7) for SPSS for data analysis. Our hypotheses were supported by the results, which theoretically contribute to authentic leadership literature and, from a practical standpoint, provide an effective way to enhance follower performance in CSR activities.

Economic policy uncertainty and audit effort: evidence from audit hours

Purpose This paper aims to examine the association between economic policy uncertainty (EPU) and audit effort by focusing on audit hours. This paper also explores whether significant political uncertainty might amplify the positive association between EPU and audit effort by focusing on Korea. Design/methodology/approach This study uses 21,543 Korean firm-year observations from 2005 to 2018 in an audit hour determinant model, as well as EPU following Baker et al. (2016) and audit hour to proxy audit effort. Findings EPU is positively associated with audit hours, indicating that auditors work more audit hours in response to firms’ high EPU resulting from higher earnings manipulation risk. Further, whether this positive association between EPU and audit effort might be altered by significant political uncertainty is investigated using a presidential election dummy. The empirical results show that auditors work additional audit hours during fiscal years in which presidential elections occur, given high EPU. Originality/value To the best of the authors’ knowledge, this paper might be the first empirical attempt to use audit hour data with EPU to provide practical implications to academia or auditors.

The Exposure of French and South Korean Firm Stock Returns to Exchange Rates and the COVID-19 Pandemic

Rogoff predicted that the U.S. dollar will depreciate and that exchange rate volatility will return. The coronavirus crisis has also roiled the world economy. This paper investigates the exposure of French and Korean firm stock returns to exchange rate appreciations and the pandemic. Both France and Korea are major exporters, but Korea has managed the crisis better than France. The results indicate that Korean firms have come through the pandemic better than French firms. The findings also indicate that the Korean economy is less exposed to appreciations than the French economy. This paper concludes with suggestions to increase firms’ resilience to these shocks.

Adoption and Development of the Fourth Industrial Revolution Technology: Features and Determinants

Firms have been undergoing a fundamental transformation of the Fourth Industrial Revolution, and the transformation is driven by the adoption and development of innovative technology such as big data or artificial intelligence. While the impacts of the Fourth Industrial Revolution technology on economic performance have been actively documented, Korean firm-level data indicates that still, the majority of firms have not yet utilized the Fourth Industrial Revolution technology. Hence, this study examines determinants and propensity for adopting and developing the Fourth Industrial Revolution technology. Probit model estimations show that size, internal R&D intensity, the ratio of intangible assets to the sum of intangible and tangible assets, and patent rights are positively associated with adopting and developing the innovative technology, while there are sectoral differences. Notably, a strategic alliance is the most substantial factor for the propensity of adopting and developing the Fourth Industrial Revolution technology. In sum, this study finds that not only internally accumulated intangibles and R&D investment but also active collaboration with other firms can facilitate diffusion of the Fourth Industrial Revolution technology. Therefore, building up the environment to prompt collaboration can be another effective way to accelerate transformation in addition to supporting R&D and intangible investment.

ENDOSCOPIC ESOPHAGEAL STENTING AS A METHOD OF SELECTING AND ELIMINATING DYSPHAGIA SYNDROME IN ESOPHAGEAL STENOSIS

To assess the experience of stents application, formulate the main indications and contraindications for the esophageal stenting, prove that the esophageal stenting with self-expandable metal stents is considered as the treatment of choice in incurable patients. Within the period from 2007 to 2018. 78 patients have treated for the cancer of esophagus and gastric cardia, 2 patients with benign esophageal strictures were subjected to stenting at the general surgery department of the S.M. Kirov Military Medical Academy. The group of patients included 53 men and 17 women. 60 patients with dysphagia grade IIIIV have been examined, 6 of them with trachea-esophageal, 2 esophageal-pleural fistulas formed during the tumor disintegration, 2 patients were treated for burn strictures of the esophagus. M. I. Tech's esophageal stents of Korean firm were used. Insertion was carried out by short endoscopic delivery systems of a small diameter. Satisfactory evaluation of the stent state and adequate stent expansion, absence of any misplacement were considered as an indication for starting oral food intake. Patients may be allowed to go home shortly after an esophageal stent procedure (the same day). The first day the patient could use water and foods need to be liquid, moist and soft, in the following days it was possible to increase the density of products. The study found that stenting of the esophagus is a current method of endoscopic surgery, aimed at the expanding and maintaining of the lumen of the esophagus by means of the inserted self-expandable stents. Esophageal stenting possesses by fewer complications unlike other techniques. The role of palliative treatment (for example, stenting) is considered to reduce dysphagia, improve the quality of life and increase life expectancy

HIGH CORPORATE SOCIAL RESPONSIBILITY BUT LOW CORPORATE MATERNITY RESPONSIBILITY: KOREAN EVIDENCE

This study analyzes the association between corporate social responsibility (CSR) activities and maternity protection using Korean firm-level data. The result shows that companies with good CSR evaluation is negatively related to reinstatement rate after parental leave. It was also revealed that industries with low relevance to female workers or consumer issues and firms with good corporate governance indicators is negatively related to maternity protection. Firms are attracted to external social issues, rather than internal labor standards, such as parental leave. This study examined various causes that lead to these results.

Managerial myopia and short-termism of innovation strategy: Financialisation of Korean firms

This study empirically examines whether managerial myopia leads to short-termism of innovation strategy using Korean firm and USPTO data covering 1980–2017. The main finding is that payout indicators, as the proxy variables for financialisation and managerial myopia, have a negative effect on innovation, quantitatively and qualitatively. Hence, managerial myopia and short-termism of innovation strategy are related. Further, estimation by the firm’s size reveals that the hypothesis of managerial myopia leading to short-termism of innovation strategy is valid only for conglomerates.