CULTURAL DIFFERENCES IN SHOPPING FOR LUXURY GOODS: WESTERN,ASIAN, AND HISPANIC TOURISTS

This study examines the significant differences in shopping for luxury goods among Western, Asian, and Hispanic tourists and, in particular, the perceived importance of different types and characteristics of the luxury consumer and travel goods tourists buy on vacation. The results show that Western, Asian, and Hispanic tourists‐shoppers significantly differ in the perceived importance of luxury consumer and travel goods and their characteristics. Western and Asian tourists attach more importance to buying “gifts for others” than Hispanic tourists. Asian tourists attach more importance to buying “golf equipment,” “health spa/wellness treatment,” “luxury cruises,”and “luxury yachts/rentals” than Hispanic tourists. Western tourists attach more importance to “fine dining” than Hispanic tourists. Implications of the study results and recommendations for future studies are discussed.     

Quality management practices and their relationship to buyer’s supplier ratings: a study in the Korean automotive industry

This research explores if quality management practices are different among suppliers whose performance is rated high, medium, or low by a common buying company and identifies which specific practices contribute to the differences. The entire population of first-tier suppliers to a Korean auto assembler was surveyed to measure use of quality management practices. Useable returns were received from 25% of the suppliers surveyed. To measure conformance quality and overall rating, suppliers were categorized into high, medium, and low performing groups based on the buying company’s data. Multivariate analysis of variance was done using general linear model (GLM-MANOVA) to explore differences in the high-, medium-, and low-performing supplier groups based on their use of quality management practices. No statistically significant differences were found when suppliers were categorized based on conformance quality. However, when categorized based on overall rating, the highest rated suppliers were found to emphasize process management and employee satisfaction to a greater degree than the lowest rated suppliers.     

The Effects of Brand Strategy and Technological Uncertainty on Pioneering Advantage in the Multigenerational Product Market

This research investigates how brand strategy and technological uncertainty influence the order‐of‐entry effects for a previous generation pioneer in the successive generation. The findings of our longitudinal experiment reemphasize the importance of continuous pioneering, demonstrating that consumers exhibit a strong preference for a previous generation pioneer's product when it continues to pioneer the successive generation. More importantly, the findings indicate that continuous pioneering with a new brand leads to greater brand preferences when technological uncertainty is high. This is because in that condition, consumers perceive greater innovativeness with a new brand than with the extant one. On the other hand, an extant brand increases consumer brand preferences for a previous generation pioneer's product in the successive generation when technological uncertainty is low. The theoretical and practical implications of the results for understanding and managing pioneering advantage and brand strategy in the multigenerational product markets are discussed.     

突出办园特色 推动轨道交通技术进步和产业化

一.西南交通大学科技园的办园特色 1.以雄厚的工科研发优势为背景,以交通领域的新技术、新产品为孵化重点     

The Wealth Effects of Capital Investment Decisions: An Empirical Comparison of Korean Chaebol and Non‐Chaebol Firms

Abstract:   This paper investigates the capital investment decisions of Korean firms and their impact on shareholder wealth. Overall, we find positive abnormal returns surrounding the announcements of 697 cases of investment projects during the period 1992–1999. This paper also finds that the investment decisions of business group ( chaebol ‐affiliated) firms do not increase shareholder wealth, while the capital investment decisions of non‐ chaebol firms generate significantly positive abnormal returns. The multivariate tests provide consistent evidence that the announcement effects for chaebol firms are lower than for non‐ chaebol firms, after growth opportunities, investment size and firm size are controlled for. The findings support the view that the organizational structure of Korean chaebols creates an incentive for managers to make non‐value maximizing capital investment decisions.     

清中期广西的客民及土客械斗

清中期,由于广东与广西之间的不平等商品交换和广东人口大量地向广西迁移,引起了广西社会矛盾的深化。虽然广东的移民(客民)为广西经济的开发作出了贡献,但人口增加与耕地不足的矛盾出现了,其表现形式之一就是客民与土著(包括少数民族)间的械斗。由于恶劣的社会经济条件,造成了大部分客民与天地会、‘海贼’结为一伙,进行了反地方官、反清的活动。自雍正年间开始,广东嘉应州的部分客家不断移居广西东南地区,与土著之间在土地、水利、风水、女人等问题上产生纠纷,导致客民和土著间的械斗。这是广西社会秩序动乱的最基本的因素,也是太平天国运动发展的重要转机。     

The Effect of Multiknowledge Individuals on Performance in Cross‐Functional New Product Development Teams*

This study examines the effect of multiknowledge individuals (especially those possessing both marketing and technological knowledge) on performance in cross‐functional new product development teams. A survey of 62 cross‐functional teams shows that the proportion of multiknowledge individuals has an indirect positive effect through information sharing on product innovativeness and a direct positive effect on time efficiency of new product development teams.     

Regulatory Uncertainty and Financial Contagion: Evidence from the Hybrid Capital Securities Market

This paper examines the negative market impact that resulted from the insurance regulators’ potential reclassification of 140 hybrid capital securities in spring and summer 2006. It illustrates how financial contagion can spring from a regulatory policy change that lacks transparency. We investigate the impact of the uncertainty surrounding the regulators’ true classification criteria by measuring the effect of the reclassification announcements on hybrid new issue volume, cumulative average abnormal returns, bid‐ask spreads, and yield spreads. The financial contagion adversely affected the entire hybrid capital securities market for six months. The effect was most pronounced among those hybrids that were eventually reclassified as common equity equivalents. It was greater for Yankee Tier 1 hybrids, which had been more popular with insurance firm investors prior to the reclassifications, than among non‐Tier 1 hybrids.