This paper reviews the theoretical and empirical literature on the economic and social consequences of diversity across multiple levels, including individuals, groups, organizations, and regions. The literature highlights two opposing mechanisms: diversity can enhance creativity and innovation by combining heterogeneous knowledge and perspectives, but it can also generate coordination costs, communication barriers, and social frictions. The overall effects are highly context-dependent, varying with the type of diversity, task characteristics, and institutional environment. While evidence tends to support positive effects in knowledge-intensive settings, empirical findings remain mixed due to measurement challenges and issues of endogeneity. The paper concludes by emphasizing the importance of institutional and organizational conditions in shaping outcomes and identifies directions for future research.

We examine how a government-mandated newspaper consolidation in 1980s Korea affected firms’ information environment. Exploiting the quasi-exogenous “One Province One Newspaper” policy, we find that firms headquartered in affected regions experienced higher information asymmetry measured by idiosyncratic volatility, trading volume, and Amihud illiquidity following consolidation. The effect is amplified for firms in Jeolla, where political control of the press was strictest, and for firms with concentrated local investor bases. The results highlight the role of regional media as a conduit for firm-specific information and the capital- market consequences of state-led media regulation.

This study examines how managerial career concerns affect operating cash flow (OCF) management, focusing on chief financial officers (CFOs). Using U.S. data, we find a negative relation between CFO tenure and unexpected OCF, indicating greater OCF management early in tenure. Early-tenure CFOs appear to manage OCF through timing adjustments, evidenced by a shorter year-end cash conversion cycle. Unexpected OCF better predicts future performance when CFO tenure is short, suggesting more informative reporting. Results are stronger when CFOs hold greater influence and are not driven by lower ability, highlighting the role of CFO career concerns in financial reporting.

Ostracism is a negative social event that diminishes employees’ sense of power. Drawing on power dependence theory, this study investigates how employees’ prior engagement in crafting either social or structural job resources differentially moderates this relationship. We hypothesize that employees who previously increased social resources experience a weaker negative impact of ostracism on power, whereas those who increased structural resources experience a stronger effect. An experiment study supported these hypotheses. This research advances the ostracism, job crafting, and power literatures by showing how pre-ostracism job crafting behaviors can either mitigate or exacerbate ostracism’s negative effects on sense of power.

Analyzing Korean listed firms from 2014 to 2022, we report that 1) firms are less likely to issue sustainability reports following environmental rating downgrades, and 2) when they do, they include less green terminology in the reports. Notably, these disclosure patterns are only salient for firms with multiple downgrades (i.e., when multiple ESG raters issue downgrades). Interestingly, downgraded firms with more green terminology reduce carbon emissions to a lesser degree than those with less green terminology. Our results suggest that downgraded firms’ reactive disclosures are more of a strategic response than a demonstration of genuine commitment to environmental improvement.

This study examines how AI explanations affect human-AI collaborative decision-making. We test whether explainable AI (XAI) improves accuracy, speed, confidence, and reliance when distinguishing correct from incorrect AI suggestions. Using call center agents in three conditions―human only, human with AI, and human with XAI―we evaluate decisions made with classifiers and LIME-based explanations. Results show that explanations significantly increase decision accuracy, reduce overreliance on AI, and promote appropriate non-reliance. These findings emphasize the critical role and applicability of AI explanations in human-AI collaboration and contribute practical insights into designing AI assistants.

This study examines how business group affiliation influences corporate innovation and its economic implications in product markets. Using patent data from Korean public firms, we find that business group-affiliated firms (i.e., chaebols) file more patents than their non-chaebol counterparts. We explore two potential mechanisms underlying this difference: the responsiveness of R&D investment to growth opportunities and intra-group knowledge spillovers. We find suggestive evidence that chaebol firms may allocate R&D more efficiently in response to investment opportunities and benefit from innovation generated by affiliated firms. Moreover, the positive effects of patents on future profitability are more pronounced for chaebol firms. Finally, while chaebols’ patenting activities are associated with increases in their market share, they does not appear to contribute to overall industry growth. Taken together, our findings highlight the role of innovation in reinforcing chaebols’ competitive advantage and market dominance.

We attempt to identify the benefits of multi-unit chain membership and study the boundary conditions of the effects of chain affiliation. We test our arguments in the context of the U.S. hospital industry by examining the number of hospitals affiliated with hospital systems. We find that the number of hospitals in the system is positively associated with establishment performance. We find that the level of market competition positively moderates the relationship between the number of hospitals and establishment performance. Lastly, we find that the level of product scope negatively moderates the relationship between the number of hospitals and establishment performance.

Classic recruitment theory suggests that applicant attraction is predicted by objective job attributes, critical recruitment contacts, and employer image. However, research on employer image has been relatively scarce. This study develops a measure of Employer Brand Personality (EBP) based on Aaker’s brand personality model and tests its validity in Korea. Using data from undergraduate and MBA students in a Korean university, we found that a five-factor model (sincerity, excitement, competence, ruggedness, and peacefulness) effectively describes the EBP of Korean companies. Results also show that EBP significantly impacts organizational attractiveness and intention to apply. Theoretical and practical implications for developing recruitment strategies are discussed.

This study generates new knowledge on how digital content marketing affects customer engagement and purchase intention. While Phase I of the study is conducted on Indian youngsters to understand their expectations of brand’s content by employing the Theory of Consumption Values, for Phase II of the study, a hypothetical content (stimuli) is developed based on the findings of Phase I. Thereafter, the stimuli is used to gauge consumers’ attitude towards content marketing, engagement, and purchase intention. The study uncovers customers’ expectations from digital marketers and provides significant insights into what works and what doesn’t in content marketing.