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The Strategy for Korea's Economic Success describes the four factors comprising the ABCD model and details how Korea exemplified the four factors in achieving its current level of success. It further demonstrates how the ABCDs with internationalization can both create and sustain competitive advantages.

AbstractIn spite of the substantial liberalization of China's film industry, it is still highly regulated and protected from foreign competition through a series of policy measures. In the midst of pushing both liberalization and protectionism, Chinese firms tend to exploit favorable government policies and avoid restrictive regulations through alternative options to maximize profits. Most preceding studies emphasized the liberalization efforts by the Chinese government as a significant contribution to the film industry, while neglecting the response and strategies of Chinese filmmakers that have upgraded their overall competitiveness. Therefore, this paper aims to examine the government‐firm interplay and their influences on the enhanced competitive advantages of Chinese filmmakers and the film industry, by utilizing the theoretical framework of the ABCD model to demonstrate this interaction. Based on the comprehensive analysis of both Chinese achievements and remaining challenges, this study further provides useful policy implications for improving China's film industry.

Purpose
This conceptual paper aims to explore under what conditions multinational companies (MNCs) are more likely to internationalize through externalization modes.


Design/methodology/approach
This paper complements previous studies by proposing three industry-specific factors that affect MNCs' decision for externalization. It then applies this framework to the case of Korean MNCs' strategic choice when entering the Chinese film market which is highly regulated by the government, to illustrate how such a framework works in practice.


Findings
This paper suggests that MNCs are more likely to choose externalization entry modes under the three industry conditions: when the business grows fast, when there are best practices of industry standard and when the business requires multi-competence. It also shows that the three conditions explain well the growing Korea–China co-productions in the Chinese film market.


Practical implications
This paper provides useful implications for the government's regulatory effectiveness. The protectionist policies of the host government are valid only in an industry where the three conditions are met, as they increase the possibility of domestic firms' participation by encouraging foreign MNCs to shift their entry mode from sole venture toward alliances with domestic firms.


Originality/value
This paper enriches the entry-mode research by indicating that MNCs' externalization decisions need to consider these industry-specific factors. In addition, it also contributes to the understanding on why some countries maintain their high attractiveness for foreign MNCs, whereas other countries do not, given the similar level of restrictive government regulations.

AbstractContributing to society is not simply a charitable gesture but can be a value creating activity when utilized with an appropriate strategy. Companies should attempt to move from "good corporation" to "smart corporation." Society should also recognize that corporations are the organizations that create values in collaboration rather than just offering away some of their profits to society. When both corporations and society realize this mutually beneficial role, we can develop a virtuous cycle of increasing the benefits for both corporations and society.

Kritika Kultura and the European Centre for International Political Economy (ECIPE) are pleased to publish this special issue on cultural practices and cultural policies in the global and digital age. It is the outcome of a conference held in Ateneo de Manila University which has offered great opportunities for authors coming from different continents to discuss the vast changes in these domains. [First paragraph]

Kritika Kultura and the European Centre for International Political Economy (ECIPE) are pleased to publish this special issue on cultural practices and cultural policies in the global and digital age. It is the outcome of a conference held in Ateneo de Manila University which has offered great opportunities for authors coming from different continents to discuss the vast changes in these domains. [First paragraph]

Abstract
The Korean wave, which is the popularity of Korean entertainment outside Korea, is a fairly new phenomenon. Encompassing Korean dramas, films, and songs, it has been highlighted by international media outlets and scholars. Several prestigious newspapers and scholars attempted to explain the competitiveness of the Korean wave, but they have remained biased by missing, overemphasizing, or overlapping important success factors. To provide a more comprehensive and accurate analysis, this paper conducts a rigorous study on the competitiveness of Korean entertainment industry focused on Korean dramas and films with a comprehensive analytical tool, the generalized double diamond model. The results of this study provide evidences that the Korean wave is not a temporary phenomenon but a sustainable industry segment. For further enhancement of this important industry, this paper suggests useful implications, including international cooperation with other countries.

Key Features:This is an extended version of From Adam Smith to Michael Porter and covers the progress of competitiveness theories dealing with their original concepts and debates on themThe authors' latest theories, such as the dual double diamond, the strategic methodology, MASI (Measure, Analyze, Simulate, and Implement), and their practical applications are added in this revised version.

Abstract: Previous studies have emphasised mainly the competitive relationship and the resistance of host governments to the expansion of foreign firms in the film industry. Adopting the competitiveness approach, this article, by contrast, analyses how internationalisation has enhanced the competitiveness of China's film industry. It shows that Chinese filmmakers leverage Hollywood's resources via three channels of internationalisation—trade, foreign direct investment and international co-productions. The enhanced competitiveness of China's film industry serves as the foundation for its bargaining power vis-à-vis Hollywood, enabling China to respond more effectively to Hollywood's expansion into its film market. However, the Chinese government's recent tightening of censorship on film production has negatively affected the sustainable relationship between China and Hollywood and hinders China's pursuit of achieving global appeal for Chinese films.

The approaches taken in these articles for this Special Issue are interdisciplinary and seek to be innovative by offering public and private solutions to globalization and protectionism in the cultural industries. We believe that it will be useful to practitioners and policy makers while also providing meaningful results to academics. In particular, it is our aim that the articles in this Special Issue will open a new forum to discuss approaches toward developing effective cultural policies.