This thesis challenges the neoclassical and the state-oriented views on economic and industrial development, using a strategic decision making theory framework and by focusing on the changing governance of the Korean water sector as an in-depth case. This research finds that a governance structure controlled by a few elites from the market or the state inevitably fails to meet the public interest. Strategic decision making theory (SDT) in this research incorporates Barzelay’s institutional processualism (Barzelay, 2003, Barzelay and Gallego, 2006) and Moe’s concept of purposive incentive (1981), in order to explain ‘changing’ governance and the reasons why some actors voluntarily participate in democratic decision making despite ‘collective action problems’. The Korean water sector, the case of this research, illustrates these ideas by showing that governance changes result from intense interaction between interested and purposive actors, critical events, and context. SDT analysis is complemented by an econometric analysis, which shows that the decentralisation of decision making power does not necessarily come with better performance unless proper governance is introduced. Solutions suggested in this thesis are democratic industrial governance and, as an intermediate means, a democratic regulatory agency, which is beyond merely (economic) regulation to remedy ‘market failure’ and economic bureaucrats pursuing long term career path.

This experimental study aimed to investigate intuitive and analytic decision making approach when assessing job applicants during employee selection process, and feedback related to employee selection process. Theories used in the study to explain intuition are the dual process model and the recognition model. The population was recruiters and non-recruiters. A sample of 169 participants were included. Recruiters’ and non-recruiters’ were randomly assigned into two conditions: use of intuition or analytic thinking as assessment strategy when assessing eight real job applicants. A comparison between their decision making approaches was made. Based on previous research, three hypotheses were obtained and tested. The first hypothesis was that intuitive decision making approach, in combination of experience of employee selections, will enhance assessments of the job applicants. The second hypothesis was that there is a positive relationship between feedback related to employee selection and accuracy in assessing job applicants. The third hypothesis was that there is a positive relationship between participants’ guessed cognitive ability test scores of the job applicants, with employability of the job applicants. The last hypothesis was supported, there was a significant and strong positive relationship between the two variables for all eight job applicants. Significant and non-significant results, methodological influences and theories accounted for are discussed.