Cultural discount of cinematic achievement: the academy awards and U.S. movies’ East Asian box office

Lee, Francis

doi:10.1007/s10824-009-9101-7

Cited by 57 publications

(59 citation statements)

References 50 publications

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“…Although foreign films can be translated, something is lost in translation (Lee, 2006). The cultural discount hypothesis has received support in the East Asian country context including Hong Kong, Taiwan, South Korea, Japan, Malaysia, Singapore and Thailand (Fu & Lee, 2008;Lee, 2006Lee, , 2008Lee, , 2009Moon, Bayus, Yi, & Kim, 2015). Therefore, we propose:…”

Section: Hypothesismentioning

confidence: 93%

Behind film performance in China’s changing institutional context: The impact of signals

et al. 2017

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Grounded in signaling theory, this paper investigates the signals reflecting product quality, innovativeness, reputation and cultural background which influence film performance, that is, film survival (duration on cinema screen) and box office success, in China's changing institutional context. This market has grown substantially and still possesses potential for further development. However, China's unique institutional context presents challenges. By examining an expanded range of potential signals, two of which have not previously been examined in the literature, namely imported films and enhanced format film formats such as 3D and IMAX, we develop a conceptual framework and argue that signaling theory needs to be combined with institutional context. Similar to findings for film industries in other countries, we find quality and reputational signals including budget, star power, sequels, and online Asia Pac J Manag (2018) 35:63-95

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Section: Hypothesismentioning

confidence: 93%

Behind film performance in China’s changing institutional context: The impact of signals

et al. 2017

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“…Most of the recent studies leverage highly disaggregated filmlevel data through the application of modern econometric analysis. Fu and Lee (2008) study the market for films in Singapore, Lee (2006) examines the market for films in Hong Kong, and Lee (2008Lee ( , 2009) test the cultural discount hypothesis in a number of East Asian countries, while Walls and McKenzie (2012) quantify cultural discount of Hollywood films in Australia, France, Germany, Mexico, Spain, and the UK.…”

Section: International Movie Markets and Cultural Distancementioning

confidence: 99%

Economics of motion pictures: the state of the art

et al. 2014

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The motion-picture industry, with its global economic reach and high-stakes highly uncertain investments, transforms creative talent and inputs into multi-billion-dollar profits. The high-profile institutions, operations, exhibition patterns, distribution channels, and marketing strategies present opportunities to explore a wide range of economic research questions. Financial data, particularly on box-office and other revenue sources, provide researchers with a unique opportunity to gather extensive evidence and uncover empirical regularities that yield fundamental insights into strategic investment, organizational design, incentive-compatible contracting, product design, advertising, and cross-cultural consumer experiences, among other areas of basic economic research.This special issue comprises five papers that explore some of these areas, creatively exploiting publicly available data and well-documented industry institutions.The first paper presents evidence on financial outcomes for remakes, an alternative form of brand extension. The second paper studies sequel films in the

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“…A movie is a classic example of an experience good-people do not know for certain whether they will like a movie until they have seen it, and they will not get a refund if it did not meet their expectations (Lee 2009).…”

Section: The Empirical Case: Hollywood and The Oscarsmentioning

confidence: 99%

“…These specialty divisions outperform mainstream divisions of major studios and true independent distributors (the reference category). Finally, we include the day of the year because films are most able to commercially leverage Oscars if they are still in theaters when nominations are made (Lee 2009;Nelson et al 2001). Consistent with exploiting this dynamic, the later in the year a film is released, the more nominations it attracts.…”

Section: (Zuckerman and Kim 2003)mentioning

confidence: 99%

Close, But No Cigar

Rossman

Schilke

2014

Am Sociol Rev

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This article examines the economic effects of prizes with implications for the diversity of market positions, especially in cultural fields. Many prizes have three notable features that together yield an emergent reward structure: (1) consumers treat prizes as judgment devices when making purchase decisions, (2) prizes introduce sharp discontinuities between winners and also-rans, and (3) appealing to prize juries requires costly sacrifices of mass audience appeal. When all three conditions obtain, winning a prize is valuable, but seeking it is costly, so trying and failing yields the worst outcome—a logic we characterize as a Tullock lottery. We test the model with analyses of Oscar nominations and Hollywood films from 1985 through 2009. We create an innovative measure of prize-seeking, or “Oscar appeal,” on the basis of similarity to recent nominees in terms of such things as genre, plot keywords, and release date. We then show that Oscar appeal has no effect on profitability. However, this zero-order relationship conceals that returns to strong Oscar appeals are bimodal, with super-normal returns for nominees and large losses for snubs. We then argue that the effect of judgment devices on fields depends on how they structure and refract information.

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Cultural discount of cinematic achievement: the academy awards and U.S. movies’ East Asian box office

Abstract: Cultural discount, The Academy Awards, Box office performance, Hollywood, East Asia,

Cited by 57 publications

References 50 publications

Behind film performance in China’s changing institutional context: The impact of signals

Behind film performance in China’s changing institutional context: The impact of signals

Economics of motion pictures: the state of the art

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