The links between job insecurity,financial well‐being and financial stress: A moderated mediation model

This study proposed a nuanced approach to the association between job insecurity and financial stress by examining whether financial well‐being mediates the established association. In addition, we examined whether the association between the job insecurity and financial stress, through financial well‐being, is moderated by income. For this study, we conducted a path analysis using 1,145 survey respondents. Results revealed a significant relationship between the job insecurity and financial stress and a partial mediation effect of financial well‐being. Moreover, the indirect effect of job insecurity on financial stress through financial well‐being was moderated by income. Although people who have higher financial well‐being were more likely to have lower financial stress, this relationship varied by income such that it was stronger for higher income groups than for lower income groups. Our findings provide insights into the way job insecurity and financial well‐being influence financial stress. This study will help the researchers and practitioners develop more effective and adaptive intervention programmes and resources for individuals and families. Implications for practice and directions for future research are discussed.     

Pension Funding Regulations and Actuarial Gains and Losses

With pervasive pension funding deficits, Korean firms have been under pressure to improve their funding levels. We examine whether firms have incentives to set obligation‐decreasing pension assumptions when they have large pension deficits (pension obligations in excess of plan assets) and when they make insufficient contributions to external pension funds. We find that firms report larger actuarial gains (or smaller actuarial losses) associated with the remeasurement of pension liabilities when their pension funding ratio (the ratio of the fair value of plan assets to defined benefit obligations) is lower and when contributions to plan assets relative to pension service costs are smaller. Next, upon the introduction of a minimum pension funding guideline, we find that the effect of the funding ratio and contributions to pension funds on actuarial gains and losses is more pronounced for firms whose funding ratios are slightly below the minimum funding ratio than it is for firms whose funding ratios exceed or fall short of the minimum by a large margin. Our results indicate that firms opportunistically exercise discretion regarding corporate pension accounting under International Financial Reporting Standards to comply with pension funding regulations, thereby reducing perceived pension deficits.     

Developing sustainable rural tourism evaluation indicators

This study is to develop indicators that measure sustainable rural tourism development within a sustainable framework. It was conducted via a Delphi technique and the analytical hierarchy process method. After three rounds of discussions, the panel members reached consensus on a set of 33 indicators with four dimensions. This set of community‐based rural tourism development indicators can serve as a starting point for devising a set of indicators at the local and regional level in order to be useful rural tourism sector manager and administrators. The selected indicators are measureable, demand driven and practical to show the real performance in rural destination. Copyright © 2010 John Wiley & Sons, Ltd.     

Assessment of TV Drama/Film Production Towns as a Rural Tourism Growth Engine

Television (TV) drama/film production towns have been mushrooming in Korea to cater for the increasing popularity of film tourism. Most of these towns have been constructed by local governments to stimulate economic development, enhance the image and awareness of the region, and to fulfill the political desires of the local government officials. However, in the last 15 years, 34 towns have been established, which has led to heavy competition for film tourists and in attracting subsequent TV drama and film productions. Consequently, most of the towns are currently experiencing financial difficulties and are exploring effective measures to maintain their popularity. In this study, film tourists' perceptions of TV drama/film production towns were analyzed using a structured survey method. The survey data were analyzed using paired t-tests and importance–performance (I–P) analyses. The results reveal that the film tourists' had different perceptions of the I–P of the products and services provided by the towns. In particular, their perceptions of I–P displayed distinct gap patterns in relation to various socio-demographic and travel-related variables.     

Housing market volatility connectedness among G7 countries

This study investigates international linkages among housing markets in the G7 countries, using the connectedness methodology developed in Diebold and Yilmaz (2012, 2015). We find that volatility connectedness varies over the business cycle, with a surge during the global financial crisis. We also show that the United States and Italy were major net transmitters of housing market volatility shocks to other countries during the global financial crisis and the European debt crisis, respectively.     

An exploratory study of examining students’ expectations of training in a laboratory class: Factor analysis of affective heuristic features

When developing effective training programs, it is important to know students’ expectations of laboratory classes. The authors collected 170 surveys from students in one laboratory class to investigate the underlying dimensions of their expectations of training. Factor analysis identified the following six dimensions of students’ expectations: climate, courtesy, credibility, entertainment, relevance, and structure. These dimensions of training expectations were used to cluster students into two groups: serious and enthusiastic. Thereafter, these two clusters were compared using chi-square tests to determine whether there were statistical differences among them. The findings suggest instructors should consider students expectations to improve students’ learning from laboratory classes.     

Exploring the relationship between types of leisure activities and acculturation among Korean immigrants

Research has suggested that leisure engagement facilitates acculturation among immigrants. A dearth of information exists about which types of leisure activities are associated with acculturation among immigrants. This study focused on 434 Korean immigrants in order to determine what types of leisure activities were associated with behavioural acculturation (e.g. language usage and social context) and cultural value acculturation (e.g. collectivism, self-control and success). The results showed that participation in hobbies and indoor activities were the positive predictors of behavioural acculturation, while engagement in cultural and volunteer activities was the negative predictors of behavioural acculturation. In addition, cultural value acculturation had a positive association with social activity engagement, but had a negative association with participation in physical, cultural and volunteering activities. Overall, these findings indicated that engaging in leisure activities is positively associated with acculturation. This study suggests that leisure engagement can be beneficial in the successful acculturation process of the Korean immigrant in Western society.     

The determinants of location choice of South Korean FDI in China

By using extensive and unique firm-level data for South Korean foreign affiliates in China, we investigated the determinants of location choice for South Korean multinational companies. South Korean companies are unevenly distributed inside China with more than 60 percent of their affiliates being located in the three northeast regions. Using conditional logit estimation, we found that market size and government policies approximated by economic zones, quality of labor, and transport infrastructure play a positive role in deciding location. On the other hand, labor costs, inner waterways, and distance show negative and significant coefficients. Finally, the model specification is shown to be robust to possible violation of the assumption of identical independent error terms. Some of the estimation results stand in contrast to those of other studies on the determinants of FDI stock flows from the world or Japan.     

Queueing problems with two parallel servers

Agents are waiting for their jobs to be processed at a service facility. All agents need the same processing time but have different waiting costs per unit of time. The facility has two parallel servers and can serve two agents at a time. We are interested in finding the order in which to serve agents and the (positive or negative) monetary transfers they should receive. We introduce two rules, the "minimal transfer rule" and the "maximal transfer rule". We show that they correspond to the Shapley (1953) values of associated queueing games, for two alternative definitions of the worth of a coalition. The two-server queueing games correspond to the games similarly defined by Maniquet (2003) and Chun (2006a) for one server. If the worth of a coalition is defined by assuming that the coalitional members are served before the non-coalitional members, then the minimal transfer rule is obtained. If it is defined by assuming that the coalitional members are served after the non-coalitional members, then the maximal transfer rule is obtained.     

The Contribution of Leisure Participation and Leisure Satisfaction to Stress-Related Growth

This study examined the contribution of leisure participation and leisure satisfaction on the experience of stress-related growth (SRG). Some types of leisure activity may be beneficial for SRG under certain circumstances. In addition, leisure satisfaction may be positively related to the stress-related growth experience. The participants of this study were 318 undergraduate students at an eastern Canadian university. The results indicated that frequent participation in civic activities and leisure satisfaction were statistically significant predictors of SRG. The findings in this study provided further evidence that positive leisure experiences and specific types of leisure activity not only help people cope with various stresses, but also facilitate growth-related changes.