Government intervention or entrepreneurial profit? Explaining innovation in the Korean online gaming industry

The paper examines how and why the Korean online gaming industry gained dominance in the global market despite US and Japanese competition in related gaming sectors.

Valuation and performance of firms in complex ownership structures : an application to Korean chaebols

We propose several new metrics to describe the complex ownership structure of business groups, and provide simple formulas and algorithms to compute these metrics. We use these measures to describe in detail the ownership structure of Korean chaebols in the period of 2003 to 2004. In addition, we validate the usefulness of our new metrics by showing empirically that they are important for understanding the valuation and performance of group firms. In particular, we show evidence that firms that are central to the control structure of the chaebol (central firms), firms in cross-shareholdings, and firms that are placed at the bottom of the group (i.e., with lower ultimate ownership) have lower profitability than other group firms. The valuation results suggest that central firms and firms in cross-shareholding loops have lower valuations than other public Chaebol firms. The lower valuation of these firms is not explained by variation in measures of ownership concentration and separation between ownership and control.

Private-public alliances for export development: the Korean case

Incluye bibliografía

Korean OFDI: investment strategies and corporate motivations for investing abroad

Includes bibliography

From Unsuitable Ally to Vital Parter: The Case of US-Korean Relations and The Vietnam War, 1954-1966

This is the history of the decade prior to the entrance of Korean troops into the Vietnam War, roughly covering the years 1953-1965.