-
- Congratulations to the first AI MBA graduates! NEW
- Hats off to the AI MBA Graduates of 2022! On September 3, 2022, AI MBA graduands took to the stage to accept their diplomas from Dean Eric Shih after he delivered a warm closing speech. The student president and the vice president delivered their speeches in front of their cohort for the last time, as family and friends gather proudly to watch the students wrap up their final year at SKK GSB. A formal dinner was served as the last celebration together as a class. Now that caps have been tossed in the air, a new future awaits these graduates. Congratulations and best wishes for the future, SKK GSB AI MBA graduates!
-
- 작성일 2022-09-26
- 조회수 750
-
- Graduation Ceremony - Class of 2022 - Executive MBA & Professional MBA NEW
- SKK GSB held the graduation ceremony class of 2022 from Executive MBA and Professional MBA on September 3. Graduates, their families, and friends gathered at Cho Byung-Doo Hall, celebrating the achievement of EMBA and PMBA students, class of 2022. After the entrance of the faculty and the graduates, Dean Eric Shih delivered a congratulatory address. Then there was a granting awards session, followed by a valedictory speech from each program. After awarding diplomas, the ceremony finished with taking group photos. Again, congratulations to the Class of 2022!
-
- 작성일 2022-09-22
- 조회수 1600
-
- [Maeil Business News] Dazzling Transformation of Global Banks NEW
- Professor Youngju Nielsen (Faculty Chair of AI MBA, Associate Professor of Finance) has written a column about the stock market on MK News (Maekyung Economy). Generally speaking, a bank is a financial institution that can receive deposits from households or companies, and use these deposits to loan funds to other entities”. Therefore, many countries impose more regulations on banks than on other industries. The regulations on banks vary in many ways. One typical practice is to restrict the banks from deviating from their primary work area. There are three main reasons for such restriction. One is to prevent better terms when a bank lends to its subsidiaries. This also prevents intentional, less beneficial lending to a competitor's subsidiaries. The last reason is to reduce risks from a bank's non-primary work that can affect its primary financial system. Although it is controversial, it is difficult to say that globally agreeable verification is performed based on solid theories or on empirical studies. Thus, some countries have lifted regulations imposed on general banks, or are currently processing easing such restrictions. Meanwhile, many foreign banks are operating with similar or fewer restrictions than in Korea. The following is an old well-known example. Silicon Valley Bank (SVB) is a commercial bank that was established in the early 1980s in the western United States. What makes it special is not only that SVB makes loans to companies based on deposits—as most other commercial banks do—but that it has also invested in more than 760 startups so far. Over half of the technology and healthcare companies that made their IPO in the US in 2021 were SVB’s primary customers. SVB’s case may sound unique; however, major global banks are already in the process of making such changes to their business model. Another example is JP Morgan Chase, one of the largest banks in the US, in terms of total deposits. According to CNBC (February 2022), JP Morgan Chase carried out an internal project the main goal of which was to create a digital platform that would connect startups to bank customers. There are already 80 personnel, and this will increase to 200 by this year. This project is clearly outside the bank's work field. Another team inside JP Morgan Chase—Strategic-Investments—takes part in almost all the bank's functions, aiming to invest in emerging technologies or fintech. For example, in 2021, JP Morgan Chase became the first bank to execute a strategic equity investment, which they did in a startup called Zanbato—is a fintech company that builds a stock-trading platform for companies before they are listed. In 2022, JP Morgan Chase invested in Viva Wallet, a European cloud-based payment group, buying 49% of its total share. The bank has also been investing elsewhere while focusing on strategic investment in companies with future financial technologies. Only a few companies are cited here, but countess banks are expanding their businesses strategically. It is also noteworthy that most main banks concentrate on preparing for the future of financial services, not on commerce for immediate profits. This may sound overly ideal or illusional, but suppose that banks’ financial know-how is used for future financial systems and national industrial development, not for immediate profit. In that case, this will be a highly justifiable reason to ease financial regulations. Original article in Korean: https://www.mk.co.kr/opinion/contributors/view/2022/09/805107/
-
- 작성일 2022-09-21
- 조회수 1870
-
- SKK GSB welcomes new faculty members
- From left: Prof. Anthony Kim and Prof. Nah Lee. SKK GSB is pleased to report that the following two faculty members have recently joined the school. Anthony Kim, Assistant professor of Decision Science Professor Kim’s primary research interests are revenue management, advertising, game theory, and online decision-making. In online advertising, he has studied various characteristics of campaign budget management strategies and analyzed the performance of advertisement contracts. He holds a Ph.D. in Computer Science from Stanford University. Nah Lee, Assistant professor of Marketing Professor Lee studies the causal effect of online reviews on downstream demand and firm behavior. She focuses on service industries (restaurants/hotels/healthcare), where product offerings are multi-dimensional. Her studies aim to understand how consumers process information in text reviews and how this information affects firm demand, decisions, and competition. She holds a Ph.D. in Marketing from Duke University.
-
- 작성일 2022-09-19
- 조회수 2372
-
- EMBA Cohort 13 on Immersion program in Washington D.C.
- SKK GSB's Executive MBA includes immersion programs at IU Kelley School of Business every year. This summer, the second such program took place on IU Kelley's campus in Washington D.C., and the main theme was "Strategically Managing Global Corporate Public Affairs." Through 14 deep-dive learning sessions, the students explored global business in regards to US–Korea, US–Asia, and US–China policies, as well as domestic US issues. Diverse discussions ensued thanks to excellent session hosts from different industries—not only global companies such as Google, but also companies from the media and financial sectors, government agencies, and research institutes. Last but not least, the program included a field excursion touring Capitol Hill and the Library of Congress. Immersion programs broaden perspectives, develop communication skills and teamwork, and re-inspire students afresh. Photos courtesy of students.
-
- 작성일 2022-09-16
- 조회수 2146
-
- EMBA Cohort 14 on Immersion program in Bloomington, Indiana
- SKK GSB's Executive MBA (EMBA) includes annual immersion programs at IU Kelley School of Business. In addition, this summer, the 14th cohort attended a week-long "Leadership Challenge Workshop" in Bloomington, Indiana. The workshop involved learning and applying a practice known as Model the Way (MtW). MtW starts by clarifying leaders’ values. Naturally, leaders must contemplate their purpose, meaning, and core values. After digging into the theory, the EMBA students applied it in simulations. Finally, the program also covered encouragement and leadership development planning. SKK GSB's Executive MBA organizes immersion programs to broaden perspectives, to develop communication skills and teamwork, and to re-inspire students afresh. Photos courtesy of IU Kelley School of Business
-
- 작성일 2022-09-13
- 조회수 2143
-
- SKK GSB Professor Nah Lee: Vertical versus Horizontal Variance in Online Reviews and Their Impact on Demand
- Newly joined Marketing Professor Nah Lee's paper, "Vertical versus Horizontal Variance in Online Reviews and Their Impact on Demand," has been accepted for publication in the Journal of Marketing Research. Professor Lee received Ph.D. in Marketing from Duke University and her studies aim to understand how consumers process information in text reviews and how this information affects firm demand, decisions, and competition. Abstract as below: This paper examines the differential impact of variances in the quality and taste comments found in online customer reviews on firm sales. Using an analytic model, we show that although increased variance in consumer reviews about taste mismatch normally decreases subsequent demand, it can increase demand when mean ratings are low and/or quality variance is high. In contrast, increased variance in quality always decreases subsequent demand, although this effect is moderated by the amount of variance in tastes. Since these theoretical demand effects are predicated on the assumption that consumers can differentiate between the two sources of variation in ratings, we conduct a survey that demonstrates that subjects are indeed able to reliably distinguish quality from taste evaluations from two subsets of reviews of size 5,000 taken from our larger datasets of reviews for 4,305 restaurants and 3,460 hotels. We use these responses to construct sets of reviews that we use in a controlled laboratory experiment on restaurant choice, finding strong support for our theoretical predictions. These responses are also used to train classifiers using a bag-of-words model to predict the degree to which each review in the larger datasets relates to quality and/or taste allowing us to estimate the two types of review variances. Finally, we estimate the effects of these variances in overall ratings on establishment sales, again finding support for our theoretical results. Keywords: review variance, vertical and horizontal content, text analysis, machine learning, quality and taste variance, crowd-sourced data
-
- 작성일 2022-08-25
- 조회수 6508
-
- SKK GSB Professors Minjung Koo and Kyeongheui Kim: The Timing of Help
- Professors Minjung Koo and Kyeongheui Kim's paper, "The timing of help: Receiving help toward the end (vs. beginning) undermines psychological ownership and subjective well-being," has been accepted for publication in the Journal of Personality and Social Psychology. Abstract as below: Giving help is a generous act, but it can cause psychological distress for the recipients by inducing feelings of dependency, incompetence, or indebtedness. The current research identifies a novel factor—the timing of help in the course of an activity—that modulates the negative effect of help on the recipient’s subjective well-being. Across nine studies, we show that people experience less happiness and satisfaction when they receive help in a later (vs. earlier) stage of an activity. We attribute this timing effect to the recipient’s loss of psychological ownership of the activity; help causes a temporary, perceived shift of ownership from the recipient to the helper, and the recipient perceives a greater loss of ownership after receiving help in a later (vs. earlier) stage. We also identify two theoretical moderators: The effect holds when the activity is pursued for intrinsic reasons (e.g., for enjoyment) but not when the activity is pursued for extrinsic reasons (e.g., out of obligation), and the effect holds when help is dependency-oriented (e.g., providing full solutions) but not when help is autonomy-oriented (e.g., providing tools). Our findings advance the current understanding of how the provision of help can hurt a recipient’s well-being and offer practical insight into when help should be given to minimize such harmful effects. (PsycInfo Database Record (c) 2022 APA, all rights reserved) Keywords: Help, Timing, Well-being, Satisfaction
-
- 작성일 2022-08-19
- 조회수 6864
-
- [Maeil Business News] ESG ratings play too great a role as a determinant
- Professor Youngju Nielsen (Faculty Chair of AI MBA, Associate Professor of Finance) has written a column about the stock market on MK News (Maeil Business News). One thing that suddenly started to look like a loser after doing well is ESG: Environment, Social, and Governance. Skepticism over ESG ratings loomed large, starting with the greenwashing scandal of the German asset management company DWS. This was followed by the removal of Tesla in May this year by ESG evaluators S&P, to which Elon Musk tweeted, “ESG is a scam. It is weaponized by phony social justice warriors.” This sparked a series of tweets against ESG. In addition, the low rate of return on ESG funds which underperform compared with benchmarks has not mitigated this situation. So is ESG a scam, as Musk rants? First, let's consider the essence of ESG before judging whether investing in companies that are working hard on ESG increases returns. No one would disagree that the implementation of ESG by companies is very desirable, and that the world should accept it without question in the future. The recent controversy is over how to evaluate it, that is, how to ascribe points. In the end, too much depends on ratings and ranking. ESG ratings are derived from ESG rating companies' evaluation criteria, as with credit rating agencies. ESG ratings are first used by investment companies that sell ESG funds based on the ratings, and the second use could be promotional. Let's study an example of what affects scores. Most evaluation companies include an item on the Board of Directors to assess governance scores. The female director ratio is often considered here. Then, can it be said that the higher this ratio, the better the governance structure? Is a company with two females out of four directors better than one with three out of eight? This may affect total scores. As another example. Business Week referenced McDonald's ESG scores in a December 2021 article. McDonald's greenhouse gas emissions in 2019 were higher than Portugal’s or Hungary’s, and increased by 7% compared with the past four years. Still, McDonald’s ESG ranking rose because the evaluation company removed carbon emissions from the criteria as they did not consider carbon emissions a risk or a critical factor for appraisal. Many poorly explained instances stem from ESG evaluation methods. Accordingly, U.S. and European regulators are taking action to solve this problem. This year, the European Securities and Market Administration (ESMA) began investigating how ESG is evaluated and ranked, and the Financial Times (FT) reported feedback in July. Noteworthy feedback reports possible problems with transparency, error correction, and timing of feedback on the evaluation method and data, and the ESMA says it will continue to monitor whether regulations should be created. Many evaluation institutions explain that ESG ratings, by definition, are a standard for institutions and experts who understand the evaluation items they used, and who pay fees knowing how the scores were calculated. In a sense, the ESG ratings are a business source, and the idea of precisely regulating them may be unreasonable. In the end, it seems that monitoring will take place as much as in credit rating evaluation. The biggest current problem is that companies communicate with the public through the media as if they were absolute standards, so it is necessary to protect ordinary consumers understand neither ESG ratings accurately nor the bases for rankings. Original article in Korean: https://www.mk.co.kr/opinion/contributors/view/2022/07/655174/
-
- 작성일 2022-08-04
- 조회수 10507
-
- Professional MBA: Cohort 11 tries to make the most out of 2022
- Enjoy a brief summer breeze on the Han river! Professional MBA Student Union for the 11th Cohort organized a yacht party in June. Professionals work smart but enjoy smarter, against the difficulties in the spreading virus era. The Professional MBA program at SKK GSB is the best choice for those wishing to advance in their careers whilst working. The program curriculum is taught in English in a multicultural environment and provides dual degree opportunities in partnership with Indiana University Kelley School of Business.
-
- 작성일 2022-08-02
- 조회수 10132