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SKK GSB Professor Suil Pae publishes study on Career Concerns, Investment, and Management Forecasts
Professor Suil Pae's paper, "Career Concerns, Investment, and Management Forecasts," has been accepted for publication in The Accounting Review, the premier journal for publishing articles reporting the results of accounting research and explaining and illustrating related research methodology. Abstract A firm manager is concerned about both the firm value and the market assessments of his abilities. When investing in a project, he has private knowledge of his project-related ability that interacts with the project investment, and his general ability that produces a cash flow independent of the project cash flow. The concerns about the general (project-related) ability assessment create a signaling incentive to decrease (increase) investment. In the presence of underinvestment (overinvestment), higher-quality earnings information reduces (improves) equilibrium efficiency. When the manager issues an earnings forecast as an additional signaling device, the forecast is upwardly biased, and the equilibrium investment is smaller than that without a forecast. The latter is because the signaling incentive to decrease investment is strengthened. When the manager’s concerns about the general ability assessment are relatively large, he is better off by committing to no forecast. Novel empirical predictions about investment and earnings forecast emerge. Keywords Career concerns, investment, earnings forecasts, Efficiency
[Dong-a Ilbo] SKK GSB, raising global MBA graduates to lead business innovation
Sungkyunkwan University’s SKK GSB, raising global MBA graduates to lead business innovation All courses include data science and analytics. New course open: Business Analytics MBA SKK GSB is again ranked 1st in Korea in the Financial Times (FT) Global MBA rankings. Among top 100 global MBAs, the school ranked 30th for investment value, 29th for promotion, and 15th in international experience. This is also the school’s 11th consecutive year among the world's top 100 MBAs. As SKK GSB Dean Eric Shih says, “In recent years, business has changed more rapidly than ever before, digitalization has progressed in most fields, and data is now the language of business. We have been raising global MBA students who can lead this continuing business innovation.” SKK GSB updates all programs’ curricula every year, enhancing digital competitiveness; the school has also introduced new courses such as the Business Analytics MBA and AI MBA. Chaewon Yoon (Full-Time MBA) is pursuing both a management track and a business analytics track. His objective is to cultivate a broad understanding of data and business analysis, and acquire professional knowledge on the latest management strategies and issues. He chose this path because these are considered the key factors to improve competitiveness in today’s job market. In fact, Sangyeol Kim, an alumnus working in a smart manufacturing solution company, was pleasantly surprised when he contacted SKK GSB to recruit skilled graduates. A decade since his graduation, the Full-Time MBA now covers various data and analytics subjects such as database management, business analytics, marketing, and financial analysis, in addition to previous course content. Mr. Kim says, “These days, it is very difficult to find skilled people who understand data and AI, and who have global business capabilities, not only in Korea but also elsewhere.” He welcomed the change in the curriculum as there will be greater need for such hybrid skills in the near future. The Full-Time MBA program (daytime) is a high-ranking global MBA program in which 58% of freshmen and about 70% of the faculty are from overseas. The program offers dual degree programs with Indiana University Kelley School of Business (US), Maurer School of Law (US), and EDHEC Business School (France). There are tracks in four areas一marketing, finance, strategy, and business analytics一and students can expect to improve their expertise and career competitiveness. The Indiana Kelley-SKK GSB Executive MBA program (weekends) is operated jointly by both schools. Faculty from IU Kelley School of Business teach 55% of the programs, and students obtain two MBA degrees一one from each university. This program is for working professionals with at least eight years’ work experience. The Professional MBA program (evenings) focuses on fundamental business management knowledge in the first year. Students then select specialist courses in marketing, finance, or management strategy. In this program, students can take either a one-year online MS program from IU Kelley School of Business, or a one-year on-site MBA program (daytime) at IU Kelley’s campus in Indiana. The Business Analytics MBA course (weekends) simultaneously develops data analysis competency and related MBA knowledge. The course involves intensive study in specialized data fields such as programming, big data, cloud computing, and digital and social media analysis. The MMS (Master in Management Studies, weekend) is a two-year program operated jointly by SKK GSB, EDHEC Business School in France, and UC Berkeley Haas School of Business in the United States. Graduates obtain two Master of Business Administration (MS) degrees from SKK GSB and EDHEC. The AI MBA course (weekends) is a contract course for companies developing in-house AI experts. AI subjects are taught in Korean, while business subjects are taught in English. SKK GSB is accepting applications for the 2022 freshmen until May 20 for programs other than the Business Analytics MBA. More details can be found on the SKK GSB website or by phone. (gsb.skku.edu, Tel. 02-740-1520, 1530, 1533). Related article: Dong-a Ilbo on April 21st https://www.donga.com/news/Society/article/all/20220420/112982376/1
'PEOPLE ANALYTICS' of Professor Basbug
Using data from hiring the right person and identifying high-performers PEOPLE ANALYTICS of professor Gokce Basbug In recent years, data has become the language of business as almost all management decisions are based on analyzing data from various angles. This applies equally to human resource management. Today, companies are using data more and more to make decisions about their workforce, from hiring the right person, and identifying high-performers, to determining collaboration patterns between employees. Accordingly, managers can design and implement more effective human resource management techniques using scientific methodologies and rigorous statistical techniques. This field is called “People Analytics”, and companies are using this more and more to increase organizational efficiency. Prof. Gokce Basbug from Sungkyunkwan University SKK GSB studies human resource management and organizational behavior. Prof. Basbug’s People Analytics class teaches important aspects of human resource management, focusing on data analysis. In particular, MBA students are taught theoretical foundations for key personnel decisions—e.g., employment, departmental transfers, promotions—along with data analysis techniques for effective human resource management. Professor Basbug says, “It’s highly regrettable that companies and managers do not properly understand or utilize data despite the rapid development in data storage and management technology. Also, the application of data management and analysis cannot depend only on technical skills such as data organization and software use.” Prof. Basbug stresses that it is necessary to understand theory underpinning complex relationships in the workplace, and that data is merely numbers without the foundation of such understanding. Prof. Basbug's People Analytics classes deal with human resource management concepts such as human capital theory, intra-organizational movement, and turnover. For example, students study a model to predict job applicants’ performance, and a survival model to determine factors that induce turnover. Gyehyeon Park (Professional MBA) reports on her experience on this course: “This class really helped students who work as managers in an increasingly complex and diverse environment, or who are striving to become business leaders or CEOs.” She adds, “It taught us how to manage the workforce efficiently, how to analyze and present data empirically, and what conclusions management needs.” The People Analytics class features special lectures by experts in people research and data solutions in the United States, by full-time professors working as HR digital transformation experts in Europe, and by SKK GSB alumni. They share vivid examples from leading companies on how to predict performance when hiring new employees, and on what analysis is possible regarding movement and promotion, so students are more easily able to apply the theories and skills learned in the classroom. Prof. Basbug reflects, “It’s really a rewarding experience when students tell me that they’ve led their teams or managed departments with the skills they’ve learned in my class.” Related article: Maeil Business Newspaper on April 20th https://www.mk.co.kr/news/special-edition/view/2022/04/350118/
Career jump story of Gabi Yoon, Full-Time MBA class of 2019
[Maeil Business Newspaper - Alumni Interview] Career jump at SKK GSB Gabi Yoon, Full-Time MBA class of 2019 I was born in Switzerland, and always wanted to make Korea known to the world, so I wanted to act as a bridge connecting Korea and Europe. Although I was already working in a marketing company in Switzerland, since I believed in Korea’s potential and wanted to contribute my knowledge and skills to its innovation, I came to Korea and enrolled on an MBA course. I joined this MBA course, and gained professional marketing skills and a very successful career thereafter as a digital marketing specialist. Now, after my successful career jump, I’m working as a consumer intelligence and marketing consultant at Samsung Group In-house Consulting, and in S-Core, which leads digital transformation. I conduct strategic consulting based on digital marketing operation and digital effect analysis. Motivation to enroll the MBA program at SKK GSB I thought that as a digital marketer who majored in design thinking, it would be helpful to have more expertise in business, economy, and finance to improve my work skills and for my career. Even before I entered, I’d seen many of my friends and acquaintances who graduated from SKK GSB get jobs in globally powerful companies such as Google and Samsung, and they developed greatly in their professional careers quickly. Not only did SKK GSB have global professors with excellent research results, but it was also impressive to see the curriculum operating tracks that allow in-depth specialist learning. MBA experience was helpful Most of the knowledge that I learned from the MBA classes is directly helpful and effectively used in my work. I am in particular benefiting a lot from the first semester classes such as Management, Economics, Finance and Data Analysis. SKK GSB professors use various teaching methods to elevate student participation and encourage students to constantly question themselves while thinking critically. Thanks to this, I got used to thinking deeply, and giving opinions widely. After the MBA, I always took the initiative, and became confident in solving problems. Specifically, when I was recently analyzing social listening data in Escore, I applied the analytic skills that I learned in Prof. Yanbo Wang’s Quantitative Analysis class. When it comes to contracting, or when we need Win-Win negotiations, the client/partner acquisition skills from Prof. Adam Castor’s Negotiation class are of great help. I focus on the value of what I create when I work rather than just on the activity. I also try my best to help the company and our clients to develop. What was the most difficult thing while you are studying? In the SKK GSB Full-Time MBA course, I studied with students from more than 10 countries. I found it a big challenge to distribute roles considering the language and cultural differences of the team members and the strengths and weaknesses of each team. It was not easy to create synergy by integrating so many different opinions considering that we all came from different backgrounds. During the MBA period, numerous projects were carried out, and we experienced and resolved some conflicts with team members. This experience at the same time became a great opportunity to me as it helped me to develop my ability to integrate with people with different opinions, and to move toward a shared goal. Thanks to this opportunity, my interpersonal skills have also improved. Advice for prospective students I highly recommend taking an MBA for anyone who wants a transition or career development. I developed my career, and learned a lot more than I expected. I keep in touch with my friends from various fields and my professors at SKK GSB. While working at the Korea MBA Association, I often interacted with MBA students from other schools, and met many people at work even after we graduated. The MBA experience was an opportunity in my life where I reflected greatly on myself, and developed a lot as an individual. Related article: https://www.mk.co.kr/news/special-edition/view/2022/04/350118/
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