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- 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
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- 작성일 2022-09-13
- 조회수 6731
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- 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
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- 작성일 2022-08-25
- 조회수 11226
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- 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
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- 작성일 2022-08-19
- 조회수 11554
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- [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/
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- 작성일 2022-08-04
- 조회수 15219
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- 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.
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- 작성일 2022-08-02
- 조회수 14924
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- SKK GSB completed mini-MBA session at 13th Asian Leadership Conference
- The 13th Asian Leadership Conference (ALC) hosted by Chosun Media was held at the Shilla Hotel in Seoul on July 13 and 14. SKK GSB successfully conducted two mini-MBA sessions: "New Economic Response Investment Pattern", and "Beyond Hybrid Workplaces: Post-Pandemic Business Operation Measures." The first session, "New Economic Response Investment Patterns," introduced global investment trends focusing on the national level and on climate change. Professor Youngju Nielsen introduced various cases in the technology, food, and energy sectors of the country's trend towards growth through investment. Prof. Nielsen asserted that securing source technology through strategic overseas investment is crucial, acknowledging the importance of fostering each area simultaneously. Prof. Nielsen was followed by Ben Meng, Chairman at Franklin Templeton, who introduced changes in global investment trends due to climate change. He spoke about the problem of the current situation of two missing I’s: Information, and Incentive. He suggested the possible solutions of disclosing crisis information, and establishing carbon emission prices based on incentives. The second session, “Beyond Hybrid Workplaces: Post-Pandemic Business Operations Measures,” introduced new challenges that corporations face and countermeasures specified in human resource operational strategies. Anirudh Suri, the founder of the Indian Internet Fund, explained the disruptions caused by geopolitical power shifts in diverse relations such as inter-governmental cooperation, conglomerates and start-ups, and inter-industries. He advised paving the way for the changes based on a deep understanding of the geopolitical power game changes. Next, Prof. Annelise Riles of Northwestern University, also a director at the Roberta Buffet Institute, proposed how to sustain innovation and progress in the post-pandemic era. She proposed fostering skills to advance beyond limits, to become ‘cooperative geniuses.’ Eric Shih, Dean of SKK GSB, said, "Participating in the Asian Leadership Conference for two consecutive years, it was possible to share analysis and insights with experts in each field and academia on global issues. We will continue the in-depth and lively discussion next year." The replay of Mini MBA sessions at 2022 Asian Leadership Conference at the official website: https://alc.chosun.com/2022/en/.
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- 작성일 2022-07-25
- 조회수 12318
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- Career Development Center (CDC) holds a regular Friday Chat with Alumni: Here is the recap of Spring 2022
- SKK GSB’s Career Development Center (CDC) is dedicated to connecting students and alumni for networking and opportunities. Therefore, the CDC organizes regular events called "Friday Chat with Alumni". In these sessions, alumni share their experiences at SKK GSB and the paths they followed afterward. In this spring’s first session, Friday Chat invited students to hear Symean Chao (FMBA, 2020) on how to grasp internship opportunities in Korea's finance sector. A proud SKK GSB alumna, Symean is currently working as an underwriter at AmWest Funding Korea. In this session, Symean shared her insights on understanding the Korean job market and answered all questions heartfully. The following Friday Chat was with Asyl Uraimova (FMBA, 2020). Asyl related her career-changing experience: she initially worked in data analytics and changed to the entertainment industry, particularly mobile games. She shared her exciting career change stories and how she is now successfully working as a global recruiter in 4:33 Creative Lab. Next, our Full-Time MBA students were pleased to have Gabi Yoon as the Friday Chat with Alumni guest. Gabi currently works as a consultant in digital consumer intelligence and marketing strategy at S-Core (Samsung Group Consulting). She shared her insights on how students can broaden their network successfully, especially in the marketing sector. Last but not least, CDC prepared a coffee chat with our alumnus and the president of his cohort, Tyron Sabatta (FMBA, 2021). Tyron is currently the CMO of eMoldino, an loT and Al solutions company. Our students could learn a lot from this chat: Tyron's experiences as CMO, and how he forged his own path to where he is now. Follow SKK GSB LinkedIn group for upcoming Friday Chat with Alumni sessions: https://www.linkedin.com/groups/2586461/
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- 작성일 2022-07-18
- 조회수 12328
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- SKK GSB mini-MBA sessions at 2022 Asian Leadership Conference
- Sungkyunkwan University's SKK GSB is holding mini-MBA sessions under the post-pandemic theme at Asian Leadership Conference. SKK GSB will be holding mini-MBA lectures on Finance and Work Environment in the Post–Pandemic world at the 13th Asian Leadership Conference (ALC) hosted by Chosun Media. The event will take place over two days, on the 13th and 14th of July, at the Shilla Hotel in Seoul, and will be simultaneously accessible online. The theme of the 2022 ALC is "Embracing the New Normal: A Proposal for the Future." This year, the event will invite the largest-ever number of world leaders in politics, economy, industry, and culture, with 100 sessions. The mini-MBA sessions will be provided only by two international schools: Cheung Kong Graduate School of Business and SKK GSB. SKK GSB's mini-MBA sessions will analyze the current status of finance and leadership in the post-pandemic world and provide academic insights. The first session will be hosted by Prof. Adam Castor, a strategy specialist, and Prof. Youngju Nielsen, and Mr. Ben Meng, Chairman of Franklin Templeton Asia, will share their in-depth insights into global investment trends. The session's main title is 'New Investment Patterns Reflecting the New Economy.' Finance expert and Vice Dean Prof. Andrew Yi will host the second session under the theme 'Beyond Hybrid Workplace—Preparing Your Business for a Post-Pandemic World.' In addition, two speakers will discuss global challenges, management cases, and leadership research: Mr. Anirudh Suri, the founder of India Internet Fund, and Prof. Annelise Riles, a law professor at Northwestern University. [SKK GSB Mini-MBA at Asian Leadership Conference: 3–5 p.m. Thursday, July 14, 2022] First session New Investment Patterns Reflecting the New Economy - Moderator: Adam Castor, professor of strategy - Speaker 1: Ben Meng, Chairman of Franklin Templeton Asia The Cross-currents of Climate Change, the Pandemic, and the War - Speaker 2: Youngju Nielsen, professor of finance Investing for the Future Generation Second session Beyond Hybrid Workplace—Preparing Your Business for a Post-Pandemic World - Moderator: Andrew Yi, Vice Dean & Professor of finance - Speaker 1: Anirudh Suri, Managing Partner, India Internet Fund, and author The Opportunities amid Disruptions and Geopolitics: How Businesses and Startups are Navigating Towards the Industries of the Future - Speaker 2: Annelise Riles, Executive Director of the Roberta Buffett Institute for Global Studies, Associate Provost for Global Affairs, and professor of law at Northwestern University Overcoming Global Challenges and Harnessing Opportunities for Sustainable Development and Innovation Students and alumni can attend the conference virtually by registering with their school email accounts. For further event details, visit the ALC website at alc.chosun.com/2022/
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- 작성일 2022-07-12
- 조회수 9639
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- [Maeil Business News] Stock transfer and financial tax system
- 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). After becoming accustomed to the financial market and tax system in the United States, I found the Korean system similar but different, so it often presents surprises. Something new that I learned recently as stock transfer tax became a hot topic is that there is no wash sale in Korea. In the US, wash sales prevent paying less tax through loss in stock investment while reducing overall income. If a sale of stock records a loss, in order to re-purchase the same stock, the buyer must wait 30 days. The following is a detailed explanation of a fictional case. Let’s say that an investor bought Stock A for $100, and it is now trading for $75. There is a loss that has not been realized. On the other hand, in the same year, the investor bought Stock B for $50 and sold it for $75, so they realized profits. In this case, the investor has to pay capital gains tax. However, they can realize the loss by selling Stock A in order to reduce the total profits. If we take this case to the extreme, and they re-purchase Stock A after the loss is realized, then, they only reduce the tax without great changes to their whole portfolio. It is wash sales that prevent such underhand tax reduction. In Korea, capital gains tax is not imposed on domestic stocks, so the extreme case above is not possible with domestic stocks. However, similar cases are possible if an investor buys or sells American stocks. The US Internal Revenue Service (IRS) imposes a capital gains tax on stocks, and wash sales are related to the IRS, so Koreans who buy American stocks, but are not bound by IRS rules regarding wash sales, can avoid tax. In short, Korean investors can realize the loss on certain American stocks, and then re-purchase them immediately. Although this is feasible, few individual investors can generate great profit in this manner. In comparison, the earnings from long-term stock investment (more than a year) are subject to capital gains tax of 0%, 10%, or 20%, depending on the investor’s income level. The earnings from short-term investments follow the investor’s income tax rate, which varies from 10% to 37% as of 2021. It is, therefore, better not to proceed with ‘short orders’, especially for wealthy investors. For this reason, since the 1990s, asset management experts have been making tremendous efforts to maximize the tax effect and to increase the return on total assets without breaking the wash sale rule. This is because raising the return on all assets by about 1% using the tax effect is much easier and more reliable than raising the return by 1% through investment strategies. In addition, the biggest current topic in US fintech is hyper-personalized finance, and at the center of this is an algorithm that perfectly reflects the individual's finances and optimizes taxes. Even in the eyes of ordinary people who are not tax law experts, I think the US capital gains tax will almost equate profits from investment to those generated through other methods. Of course, there are devices that encourage long-term investment to prevent severe short-term investment. Since the last term, the Korean government has been in lengthy discussions about reforming financial tax laws. Capital gains tax is central to these, and the impact of capital gains tax on the capital market is under active discussion. I, therefore, hope that financial tax laws will be reformed after careful discussion and review of all aspects of Korean people's lives, including not only capital markets, but also various social problems, including ways to close legal loopholes. Original article in Korean: https://www.mk.co.kr/opinion/contributors/view/2022/06/496767/
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- 작성일 2022-06-30
- 조회수 11633
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- Full-Time MBA 2022 Applied Business Project Winners!
- Congratulations to the Full-Time MBA class of 2023 on completing the Applied Business Projects (ABP)! On the ABP course, students work on hands-on consulting projects with real client firms, doing research and analysis applying what they have learned at SKK GSB. Through the ABP, the students can visualize how to implement their knowledge strategically in practical business cases. They also improve effective communication skills both with teammates and clients. This year, the three top projects were announced as below. 1st place: eLoop Digital Marketing Jawahirul Mahbubi, Jawhara Al Haddad, Jaewon Shin, Minghan He, Pinyada Dechakunapong The eLoop Digital Marketing project developed a digital marketing strategy starting from brand identification, working through market and trend research, up to strategy formulation. One of the highlights was the pilot project in which the team implemented their strategies directly in eLoop’s LinkedIn account, and examined the effectiveness firsthand. This hands-on approach encouraged the client to assign staff to execute this strategy in the long term. 2nd place: Ecolab Celine The, Chanya Temkampol, Byungkee Park, Lingxin Fan, Mei Yang This project focused on market expansion. The client firm aimed to differentiate themselves in the Korean market by considering selling their products to the B2C market. Opening up this untapped market would bring the company new opportunities while enabling them to stand out from the competition. The team was able to deliver good results through accurate assessment of Korean market needs, and by providing the client with key insights. 3rd place: LG Smart Appliances Paul Heustadt, Siavash Jalali, In Sool Ryu, Rachel Stratton, Sungjun Kim In this project, the team intended to implement a new concept of Smart Appliances for the client. The client requested to focus on certain points: product perception, positioning, and customer value. The team strategized in two steps: first, business ideation, then formulating the new concept. The team’s innovative plan satisfied the client.
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- 작성일 2022-06-27
- 조회수 10762