Byungchul Choi

Digital transformation is perceived not only as a change in certain technology but also as a large transition that will ultimately change our lives for the better. Industry convergence, the key to digital transformation, entails, for firms, both various opportunities for innovation and the crisis of falling behind. Therefore, from the perspective of firms, it is critical to examine how digital transformation affects their industries and products as well as how they perceive and respond to digita

We examine the role of debt as a governance mechanism in balancing exploration and exploitation. We argue that while equity is conducive to uncertain exploration critical for innovation, debt provides countervailing incentives for engaging in exploitation by imposing cash flow obligations and the threat of bankruptcy. As a consequence, debt becomes a vital instrument in directing innovation along the optimal trajectory, while preventing the balance from shifting too far toward suboptimal explora

Embedded systems are more than ever present in consumer electronics devices such as home routers, personal computers, smartphones, smartcards, various sensors to name a few. Firmware, which is embedded software specifically designed for monitoring and control in resource constrained conditions, was not a major attack target. However, recent serious cyber attacks focus on firmware rather than application or operating system levels, because exploiting the firmware level offers stealth capabilities

Organizational leaders routinely note the critical importance of human capital in enabling successful innovation outcomes. However, strategic human resource management (SHRM) practices, especially in large firms, often are not aligned with practices that facilitate breakthrough innovation (BI), where uncertainty, ambiguity, and risk of failure are high. In this paper, drawing from the motivation-opportunity-ability (MOA) framework, we identify and delineate SHRM practices that are likely to affe

This empirical study explores the impacts of technological capability on inward foreign direct investment (FDI) with the moderations of institutional quality. We extend the existing literature by contributing the dynamic links between technology trade and institutional quality by using the panel data of 35 Organization for Economic Cooperation and Development (OECD) countries between 2000 and 2015. Based on fixed-effects regression, our results show that there is a U-shape relationship between t

In business ecosystems, the platform leader takes on a role of overcoming main technological challenges and creating an innovative business model for the members of the ecosystem. Although the role of the platform leader and concepts of ecosystem have been developed by several authors, it still lacks a precise theoretical support to understand what enables the platform leader to obtain and maintain hegemony in the ecosystem. In this study, we develop a theoretical explanation to understand the f

Abstract This study investigates the association between CSR and the market pricing of accounting income numbers' persistence. More specifically, we examine whether the market evaluation of earnings persistence relies on the firm's CSR activities. We find that the market overestimates the persistence of earnings, leading the market to overprice the earnings for CSR companies in Korean setting. We also find that market overprices components of earnings, which are accruals and cash flow from opera

Purpose The foreign direct investment (FDI) motivations of emerging market multinational enterprises (EMNEs) are mainly twofold: acquisition of strategic assets in foreign markets, and foreign market penetration. While prior studies have delivered valuable insights, findings regarding the performance of those two types of FDI remain somewhat inconsistent or inconclusive. This study aims to develop complementary perspectives that can motivate scholars to explore the internal mechanisms of achievi

This paper investigates how market-oriented reforms affect firm incentives to innovate. We utilise the market reforms enacted in Korea following the Asian Financial Crisis of 1997 as an empirical setting to show why an institution-based view is crucial to understanding the factors that incentivize firms to innovate. Additionally, we draw on the competitive strategy literature to investigate how market reforms – combined with industry competition and firm-specific factors – affect innovation-rela

K-IFRS를 적용받는 리스이용자는 2019년부터 K-IFRS 제1116호 ‘리스’에 따라 금융리스와 운용리스 및 일반임차를 구분하지 않고 리스 약정 및 임차 계약에 따라 생기는 권리와 의무를 재무제표에 인식하여야 한다. 이에 대해 본 연구는 K-IFRS 제1116호 ‘리스’가 시행되면 기업의 실물 활동과는 무관하게 회계정보 상 수익성 지표 및 안정성 지표가 변동될 것이므로 기업들이 이를 고려하여 개정 기준서 시행 직전 사전적으로 어떠한 재무보고 전략을 수행하였는지 살펴본다. 실증분석 결과, 기업의 리스이용도가 높을수록 K-IFRS 제1116호가 적용되기 직전 사전적으로 이익을 낮추는 조정을 하였음을 확인하였다. 이는 회계기준 개정 시 비교표시되는 전기 재무제표는 수정하지 않는 상황에서 이러한 기업들은 K-IFRS 제1116호 시행 시 수익성 지표가 크게 하락한 것처럼 보일 수 있어 경영자가 시계열적 수익성 지표의 변동성을 줄이려고 시도하였음을 시사한다. 그러나, 재무적 제약에 처한

K-IFRS를 적용받는 리스이용자는 2019년부터 K-IFRS 제1116호 ‘리스’에 따라 금융리스와 운용리스 및 일반임차를 구분하지 않고 리스 약정 및 임차 계약에 따라 생기는 권리와 의무를 재무제표에 인식하여야 한다. 이에 대해 본 연구는 K-IFRS 제1116호 ‘리스’가 시행되면 기업의 실물 활동과는 무관하게 회계정보 상 수익성 지표 및 안정성 지표가 변동될 것이므로 기업들이 이를 고려하여 개정 기준서 시행 직전 사전적으로 어떠한 재무보고 전략을 수행하였는지 살펴본다. 실증분석 결과, 기업의 리스이용도가 높을수록 K-IFRS 제1116호가 적용되기 직전 사전적으로 이익을 낮추는 조정을 하였음을 확인하였다. 이는 회계기준 개정 시 비교표시되는 전기 재무제표는 수정하지 않는 상황에서 이러한 기업들은 K-IFRS 제1116호 시행 시 수익성 지표가 크게 하락한 것처럼 보일 수 있어 경영자가 시계열적 수익성 지표의 변동성을 줄이려고 시도하였음을 시사한다. 그러나, 재무적 제약에 처한