Financial Integration in East Asia: An Empirical Investigation

The central objective of this paper is to empirically evaluate the degree of linkages among East Asian equity and bond markets. Using data from the IMF’s Coordinated Portfolio Investment Survey (CPIS), we find that intra‐East Asian financial asset holdings of four East Asian countries – Japan, Korea, Hong Kong and Singapore – are larger than the levels predicted by the financial gravity model. However, our analysis suggests that this result is likely to be driven by intra‐regional trade linkages and reflect those linkages. Therefore, the salient implication for regional policymakers is that they should continue to promote intra‐regional financial integration. This paper also aims to analyse the impact of three different types of country‐specific risks – political, economic and financial risks – on investment from the four countries. This analysis yields a clear positive relationship between destination‐country risk, in particular political risk, and capital inflows.     

Five Seconds to the Ad: How Program-Induced Mood Affects Ad Countdown Effects

The study examines how program-induced mood and a five-second countdown warning affect reception of midroll video commercials. Building on mood regulation theory, findings from three studies suggest that program-induced moods and five-second countdowns systematically influence advertising effectiveness. When the main program is tragic (comedic) and when a countdown precedes (does not precede) the midroll ad, viewers have more positive attitudes toward the ad and purchase intentions. The findings are replicated in realistic (Study 1) and controlled (Studies 2A and 2B) settings.     

Sustaining Competitive Advantage Through Corporate Environmental Performance

This research investigates the relationship between a firm's environmental efforts and the sustainability of its competitive advantage by analyzing the effects of change in firm environmental performance on the persistence of profitability growth. We find that environmental resources allow a firm with superior financial performance to sustain its competitive advantage, and also complement the efforts of a poorly performing firm to hasten recovery from inferior financial performance. Our findings further indicate that firms attain such positive effects through enhanced profit margins resulting from improved environmental performance. Additionally, we observe that a corporate strategy of improving environmental performance demonstrates management's responsibility to maximize the shareholder wealth of a well‐performing firm. The results provide valuable insights to align environmental activities towards developing unique resources for sustaining the competitive advantage. The study provides an empirical support for creating economic value by benefiting the environment. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment     

An examination of selected marketing mix elements and brand equity

This study explores the relationships between selected marketing mix elements and the creation of brand equity. The authors propose a conceptual framework in which marketing elements are related to the dimensions of brand equity, that is, perceived quality, brand loyalty, and brand associations combined with brand awareness. These dimensions are then related to brand equity. The empirical tests using a structural equation model support the research hypotheses. The results show that frequent price promotions, such as price deals, are related to low brand equity, whereas high advertising spending, high price, good store image, and high distribution intensity are related to high brand equity. Boonghee Yoo (Ph.D., Georgia State University) is an assistant professor of marketing at St. Cloud State University. His research interests include brand equity, cross-cultural scale development, service quality, retail productivity, Internet marketing, and marketing methodology. He has published previously in theJournal of Retailing, theJournal of Business Research, theJournal of Business & Industrial Marketing, theJournal of Service Research, and theJournal of Marketing Channels. Naveen Donthu (Ph. D., University of Texas, Austin) is a professor of marketing at Georgia State University. His research interests center on research methodology, site selection models, comparative and outdoor advertising, brand equity, Hispanic consumer research, cross-cultural issues, and customer satisfaction. His work has appeared in journals such asMarketing Science, theJournal of Marketing Research, theJournal of Consumer Research, theJournal of the Academy of Marketing Science, theJournal of Advertising, theJournal of Advertising Research, theJournal of Retailing, and theJournal of Business Research. Sungho Lee (Ph.D., University of Illinois at Urbana-Champaign) is an assistant professor of marketing at the University of Seoul, South Korea. His research focuses on understanding consumers’ cognitive processing of brand and price information, brand extension and brand equity, and advertising-driven persuasion processes. He has published previously inAdvances in Consumer Research, Asia-Pacific Advances in Consumer Research, Academy of Marketing Science-World Marketing Congress, Korean Marketing Review, andKorean Management Review.     

Professors on the Board: Do They Contribute to Society Outside the Classroom?

According to our data, 38.5 % of S&P 1500 firms have at least one professor on their boards. Given the lack of research examining the roles and effects of academic faculty as members of boards of directors (professor–directors) on corporate outcomes, this study investigates whether firms with professor–directors are more likely to exhibit higher corporate social responsibility (CSR) performance ratings. Results indicate that firms with professor–directors do exhibit higher CSR performance ratings than those without. However, the influence of professor–directors on firm CSR performance ratings depends on their academic background—the positive association between the presence of professor–directors and firm CSR performance ratings is significant only when their academic background is specialized (e.g., science, engineering, and medicine). Finally, this positive association weakens when professor–directors hold an administrative position at their universities.     

Assessing Google Cardboard virtual reality as a content delivery system in business classrooms

In the past, researchers have explored virtual reality (VR) as an educational tool primarily for training or therapeutic purposes. In this research, the authors examine the potential for using Google Cardboard VR in business classrooms as a content delivery platform. They specifically investigate how VR (viewing a 3-dimensional, 360° video) differs from the traditional flat-screen (FS) format (viewing a 2-dimensional video [e.g., iPod (Apple, Cupertino, CA)]) as a teaching tool to deliver video-based content. The results demonstrate that participants in the VR condition (vs. the FS condition) rated their enjoyment and interest to be higher. However, the Google Cardboard VR platform was not superior to the iPod FS format in its content delivery with respect to novelty, reliability, and understandability.     

Paths to Success: How Do Market Orientation and Entrepreneurship Orientation Produce New Product Success?

The purpose of this paper is to examine the relationship between strategic orientation and the performance of new products. In this paper, we develop a conceptual model that explores the roles of market orientation (MO) and entrepreneurship orientation (EO) on new product performance and seek to understand the mediating roles of process and product characteristics. Based on a survey of 471 small and medium‐sized enterprises in Korea, we found that MO and EO positively affect new product performance. The main impact of MO is through new product development proficiency and product meaningfulness and that of EO is through proficient intellectual property management and product novelty. Academic and managerial implications are also discussed.     

The Moving Average Ratio and Momentum

I show the ratio of the short‐term moving average to the long‐term moving average (moving average ratio, MAR) has significant predictive power for future returns. The MAR combined with nearness to the 52‐week high explains most of the intermediate‐term momentum profits. This suggests that an anchoring bias, in which investors use moving averages or the 52‐week high as reference points for estimating fundamental values, is the primary source of momentum effects. Momentum caused by the anchoring bias do not disappear in the long‐run even when there are return reversals, confirming that intermediate‐term momentum and long‐term reversals are separate phenomena.     

Profiling people’s perceptions of retail management careers

Abstract

Educators are challenged to generate awareness of retail education programs and related career options. A corresponding issue for retailers is the recruitment and retention of career-oriented managers. The issue is complicated by negative attitudes in the general population about retail careers and a lack of awareness about retail career options. This study examines these attitudes through a questionnaire administered to a nation-wide sample of 310. A cluster analysis reveals four groups based on differences in their demographic/psychosocial characteristics and career preferences. The findings provide foci and key messages targeted to the distinct groups upon which retail managers and educators can base discrete career awareness and recruiting strategies.