Non-regular professionals' dual commitment in South Korea: antecedents and consequences

There is a growing concern with whether nonregular professionals are concurrently committed to both the organization and their profession and whether such commitments are beneficial to that organization. This article seeks to investigate the relationship between organizational justice variables and the dual commitment of nonregular professionals via perceived organizational support (POS) and the subsequent effect of the dual commitment on organizational citizen behavior. Hypotheses are developed and then tested through structural equation modeling with data collected from a total of 1143 part-time instructors at South Korean universities. The findings of this study reveal that the perceptions held by nonregular professionals of organizational justice constructs concurrently influence organizational commitment and professional commitment via POS and that both commitments are positively associated with altruistic behavior. The findings advance our understanding of the dual commitment of nonregular professionals and provide universities with managerial implications as to how to manage effectively part-time instructors. Limitations, directions for future research, and conclusions are presented.     

Predicting issuer credit ratings using a semiparametric method

This paper proposes a prediction method based on an ordered semiparametric probit model for credit risk forecast. The proposed prediction model is constructed by replacing the linear regression function in the usual ordered probit model with a semiparametric function, thus it allows for more flexible choice of regression function. The unknown parameters in the proposed prediction model are estimated by maximizing a local (weighted) log-likelihood function, and the resulting estimators are analyzed through their asymptotic biases and variances. A real data example for predicting issuer credit ratings is used to illustrate the proposed prediction method. The empirical result confirms that the new model compares favorably with the usual ordered probit model.     

Global diversification strategy and corporate profit performance

Based on a sample of 62 multinationals, this paper examines the impact of global diversification strategy on corporate profit performance by integrating the product and the international market dimensions of diversification. The results suggest that the corporate profit performance impact of related and unrelated diversification varies contingent upon the extent of a firm's international market diversification. One important lesson of this work is that both business strategy researchers and managers should review corporate diversification as having distinct yet interactive strategic dimensions—product and international market—and they would do well to recognize both the different and the joint effect of these dimensions on corporate profit performance.     

Effects of Country-of-Manufacture and Brand Image on Korean Consumers' Purchase Intention

ABSTRACT

In this study, a theoretical framework is developed to explain the differential effects of country-of-manufacture (COM) and brand image on the cognitive, affective, and behavioral components of Koreans' consumer decision making. Although effects are product specific, findings, overall, indicate that brand image has a stronger effect than COM on Koreans' perceptions of hybrid global products. Moving the production of an electronic product (TV) to a developing country, however, negatively affected Koreans' evaluation of product performance, prestige (brand and technical), and purchase attitudes. The findings have interesting marketing implications for hybrid global brands and contribute to building a theory of COM.     

‘Irrational exuberance’ in the long-run UK stock market

Using the macroeconomic data for 1830–2004 in vector error correction models, we find that the UK stock price was largely in line with the equilibrium level. However, the UK stock price shows large and slow-moving positive or negative deviations from the equilibrium, forming cycles of at least a few decades in length. We also show that the equity premium is as low as 3.1% for the 175 years, which is far smaller than the 6 to 7% that has been suggested by many previous studies. Finally, contrary to general belief, the 1999 UK stock price did not appear to be overvalued in our study. We suggest that the 25 years of sharp increase in the UK stock price prior to 1999 can be understood as a mere mean-reversion towards the long-run equilibrium level.     

A NICE agenda for IMP research

The IMP (Industrial Marketing and Purchasing) Group has engaged in a number of interesting developments in the past few years. Particularly adventurous have been the agendas of ‘pictures’ and sense-making and of time. In this paper we argue that borrowing and combining contemporary foci within social science on narratives, identity, culture and epoché temporality (for which we use the acronym N.I.C.E) allows the construction of an approach that can integrate these IMP agendas into a new research direction for the group that will keep it at the leading edge of marketing research. The purpose of our paper is to introduce and integrate discursive and temporal elements into the understanding and research of business networks to develop a more dynamic and hermeneutic approach. Our purpose is to provide a contribution to the field in exploring how identities are formed within business networks through narrative episodes in interconnecting relationships over time. We bring together all of the elements of a NICE agenda in an attempt to provide an integrative, ‘multi-lens’ theory of business networks focussed within the IMP research tradition. In doing so, we construct meaning as itself networked; sense-making involves relating presently narrated episodes to symbolic and material aspects of other narrative network episodes and events through emplotment and storying.     

Competitive Effects of Disclosure in a Strategic Entry Model

We investigate the welfare consequences of incumbent firms' mutual disclosure of cost information when there is a threat of entry from a firm not required to disclose its private cost information. New effects of disclosure are observed relative to no-entry models, with the result that incumbents' expected output is a decreasing function of the disclosure level. However, further analysis shows that increased disclosure usually increases incumbent expected profits and decreases expected consumer surplus, despite the additional entry effect of disclosure. Such analytical derivations provide objective input to the FASB as they attempt to predict the competitive effects of changing mandated disclosure requirements.