In‐store shopping hassles: Conceptualization and classification

A positive shopping experience provides retailers with a competitive advantage. However, retail environments pose numerous hassles that may negatively affect consumer experiences. Integrating perspectives from attribution theory and expectation theory, we examine the concept of shopping hassle and how it differs from that of retail service failure. Furthermore, we utilize qualitative approaches to explore what shopping episodes consumers perceive as hassles. Conducting semi‐structured in‐depth interviews in Study 1, we develop a classification framework of in‐store shopping hassles. In Study 2, we use a critical incident technique approach to gain a further understanding of types of shopping hassle.     

An assessment of value creation in mobile service delivery and the moderating role of time consciousness

This study focuses on the perceived utilitarian value of a new service delivery mode, the mobile channel. The authors develop a framework that incorporates three mode-specific benefits - time convenience, user control, and service compatibility - as well as two costs - perceived risk and cognitive effort - as antecedents of perceived value. Because of the pervasiveness of time criticality as a value-added characteristic of the mobile channel, they also investigate the moderating influence of consumers’ time consciousness. They empirically investigate the model using mobile brokerage services as an illustrative application. The results reveal that the identified antecedents, with the exception of service compatibility, have a strong impact on mobile channel value perceptions, which in turn influence behavioral intentions. The authors also find that time consciousness moderates the aforementioned relationships.     

Multi-channel service retailing: The effects of channel performance satisfaction on behavioral intentions

The number of channels that retailers can use interchangeably to provide customer service has increased. We report on a study of clients of a large retail bank that investigates the channel performance satisfaction-behavioral intentions relationship when the traditional service channel (i.e., branch office) is extended with technology-mediated channels (i.e., internet banking and telephone banking). For routine services, our findings suggest that behavioral intentions are most strongly influenced by satisfaction with office-related performance factors. For nonroutine services, satisfaction with service employee performance is the most significant driver of intentions. Our analysis also reveals interaction effects between traditional and technology-mediated channel performance satisfaction levels. These effects vary across service types, indicating contingencies in channel substitution and complementarity.     

Volatility, Efficiency, and Trading: Further Evidence

Along the lines of Amihud and Mendelson (1987a, 1989,1991), this study investigates the unique trading mechanism of the Korea Stock Exchange (KSE) and its intraday behavior of stock price volatility. The evidence from this study indicates that the introduction of an additional clearing procedure at the afternoon closing makes price discovery process more efficient than before from the viewpoint of stock price volatility. Hence, such trading mechanisms can be applied to emerging stock markets as well as developed stock markets. In addition, based on intraday analysis, stock price volatilities appear to occur mainly during the trading period, not during the lunch break or overnight period. Consequently, the results confirm the previous studies that information arrival and trading activities are the main sources of volatility.     

Personal response systems and learning performance: The mediating role of learners’ engagement

The use of personal response systems (PRSs) to support the learning process is increasing. This study examines the impact of PRSs from individual learners’ and instructors’ perspectives on individual learners’ engagement with PRSs and their learning performance. Data were collected from a sample of 236 undergraduate bachelor of business administration students in the School of Business at a Hong Kong university. The results indicated that the learner interface was important to individual learners’ engagement with PRSs and their learning performance. Instructor attitude and technical competence had significant impacts on learning performance. Engagement with PRSs partially mediated the effect of both perspectives on learning performance. Implications for the theory and practice of individual learners’ learning performance are discussed.     

How Information Technology Assimilation Promotes Exploratory and Exploitative Innovation in the Small‐ and Medium‐Sized Firm Context: The Role of Contextual Ambidexterity and Knowledge Base

This research sheds new light on how information technology (IT) assimilation affects exploratory and exploitative innovation in the context of small‐ and medium‐sized firms (SMEs). This contextualization is important in establishing the boundary conditions for the theory, as well as generating specific managerial insights for SME managers. A sample of 248 U.K.‐based SMEs in the manufacturing industry demonstrates contextual ambidexterity (CA) mediates the relationship between IT assimilation and two types of innovation. This finding highlights that IT assimilation does not automatically promote innovation. Instead, IT assimilation represents a critical resource that enables the effective implementation of CA, which in turn affects innovation. This implies that SMEs cannot fully realize the potential of their IT assimilation and use it to enable innovation without implementing CA. Furthermore, this study differentiates between two different dimensions of knowledge base: knowledge breadth and knowledge depth. This study finds that knowledge breadth moderates the indirect IT assimilation–exploratory innovation relationship by influencing the effect of CA on exploratory innovation. Knowledge depth, on the other hand, moderates the indirect IT assimilation–exploitative innovation relationship by influencing the effect of CA on exploitative innovation. This finding implies that SMEs can benefit from their IT assimilation that enables them to engage in CA, which in turn allows them to perform innovation. However, it is apparent that the dimension of knowledge that SMEs hold internally can determine what types of innovation that they are able to perform.     

Intranational Consumption Risk Sharing in South Korea: 2000–2016

This paper examines consumption risk sharing among 16 regions in South Korea over the 2000–2016 period. The empirical results show that 91.8 percent of shocks to gross regional domestic product are smoothed in South Korea. Capital markets, the tax‐transfer system and credit markets absorb 29.9, 28.9 and 33.0 percent of shocks to gross regional domestic product, respectively. Most notably, South Korea relies more on credit markets for risk sharing than capital markets, an opposite pattern to advanced countries like the USA, Canada and Australia. Furthermore, the patterns of consumption risk sharing are different before and after the 2007–2008 global financial crisis, and differences in regional industrial structure and local development can influence these patterns. This paper attempts to infer the connection between these findings and both the rapid economic growth of South Korea and the Asian and global financial crises.     

Financial risk attitudes and aging in Australia

A number of empirical studies document that people tend to become more risk averse as they get older. But other studies find only little evidence that age matters for financial risk attitudes. This prompts a call for revisiting the relationship between age and risk attitude to better support policy recommendations. The current paper contributes to this effort by utilising large-scale population data to conduct a dynamic panel analysis. Care is taken to avoid the problem of endogeneity of lagged risk attitude in modelling its effects. Analysis reveals that individuals' past risk attitude has a positive effect on their current risk attitude. However, there is only little evidence that risk attitude and age are systematically related. Our results shed some light on the previous contradictory empirical findings in the literature and suggest that past risk attitude is potentially of greater relevance than chronological age in determining current risk attitude.     

Television-Induced Tourism: Evidence from Croatia

Atlantic Economic Journal - This paper analyzes the extent to which the filming of the popular television show Game of Thrones affected tourism in the Croatian city of Dubrovnik. Using monthly data...     

Rainbow trend options: valuation and applications

Asset selection and timing decisions are major investment concerns. To resolve these issues simultaneously, a new class of rainbow trend options is proposed. The diversification effect of rainbow options can reduce the importance of asset selection decisions and trend options can mitigate unfavorable effects on market entry and exit decisions. We consider a general framework to facilitate the derivation of analytic pricing formulas for simple, pure, and Asian rainbow trend options using the martingale pricing method. The properties of these options and their Greeks are analyzed. We also investigate the performance of the dynamic delta hedging strategy for issuers of rainbow trend options. Last, this paper explores the applications of rainbow trend options for hedging price risks, designing executive stock options, modifying countercyclical capital buffer proposed by Basel Committee, and acting as control variates of the Monte Carlo simulation.