International educational tourism: Does it foster global learning? A survey of South African high school learners

International educational tourism has the potential to foster global learning; however, very little empirical research exists to support this claim. This study responds to the growing demand in the literature for rigorous empirical research to test the underpinning assumption of IET. A global learning survey instrument is developed and completed by 1152 Grade 11 learners in 16 South African exclusive high schools. In doing so, this paper demonstrates that some types of IET are more conducive to global learning than others. Furthermore, for significant global learning to occur, educational tourism needs to be facilitated and cultural difference needs to be experienced.Personality traits that include curiosity, altruism, and being open-minded to new experiences, are identified as predictors of global learning, but the effect of school-based academic achievement is small.Additionally, through the synthesis of educational tourism, international education, experiential learning and global learning theories, the concept of IET is developed.     

Examining the relationships between online store atmospheric color,flow experience and consumer behavior

Although atmospherics and flow experience are widely studied, the relationship between online store atmospheric cues and flow experience has received a little attention. Furthermore, there is a lack of published results about the role of atmospheric color in creating flow. Using the Stimulus – Organism – Response model and the theory of optimal experience of flow, this study investigated the impact of online store background color on the achievement of flow and its effects on online consumer behavior. In this study, an online experiment was conducted to investigate the effects of a warm hue – yellow versus a cool hue – blue of the background and used a self-administered online survey for data collection. The results underscore the important role online store color plays in creating the flow experience and revealed that blue hue induces more flow than yellow. The two dimensions of flow (perceived enjoyment and concentration) have direct and mediating effects on purchase intention and revisit intention. Concentration, but not enjoyment, has direct and mediating effects on the number of viewed pages and time spent per visit. This research enhances our understanding of the relationship between online store atmospheric color and flow and highlights the role of flow as an extension of SOR model applied online. Other theoretical and managerial implications of the results are discussed. Finally, suggestions regarding future research are presented.     

Knowing your boundaries: Integration opportunities in international professional service firms

This study presents three different business models (continuous, repetitious, and unique) identified in international professional service firms that pursue a transnational strategy. These business models have varying opportunities for global integration. We extend the integration–responsiveness framework by offering a framework for analyzing how to balance global integration with local responsiveness when pursuing a transnational strategy. By identifying the content, structure, and governance transactions of the three business models, we can determine when to pursue headquarters-initiated global integration and when to choose strategies that ensure local responsiveness and subsidiary competitiveness in local markets.     

Assessing time-varying stock market integration in Economic and Monetary Union for normal and crisis periods

In this paper, we examine the stock market integration process amongst 17 Economic and Monetary Union (EMU) countries from January 2002 to June 2013 over a normal period as well as for the Global Financial Crisis (GFC) and Eurozone Debt Crisis (EDC) periods. We classify the economies in three groups (A, B and C) based on their GDP to examine whether the economic size influences financial integration. Seven indicators are used for the purpose, namely, beta convergence, sigma convergence, variance ratio, asymmetric DCC, dynamic cointegration, market synchronisation measure and common components approach. The results suggest that large-sized EMU economies (termed as Group A) exhibit strong stock market integration. Moderate integration is observed for middle-sized EMU economies with old membership (termed as Group B). Small-sized economies (termed as Group C) economies seemed to be least integrated within the EMU stock market system. The findings further suggest presence of contagion effects as one moves from normal to crisis periods, which are specifically stronger for more integrated economies of Group A. We recommend institutional, regulatory and other policy reforms for Group B and especially Group C to achieve higher level of integration.     

Dynamic capability in a small global factory

In order to balance their local and global operations optimally, SMEs are moving toward a ‘global factory’ type of organizational form, meaning a differentiated network of activities held together through the control of key assets and flows of knowledge, and coordinated by a focal firm. Managing such a network requires a specific dynamic capability comprising, according to our study, cognitive, managerial, and organizational capabilities. Cognitive capabilities – cultural awareness, entrepreneurial orientation, and a global mindset – are the basis for a global factory because they are the source for opportunity recognition and exploitation, and are therefore crucial. The focal firm's organizational flexibility and absorptive capacity, as well as managerial capabilities in the areas of interface competence and analytical capability, are needed in the steering of a small global factory, the success of which depends on the nurturing of these assets.     

Online consumer behaviour and its relationship to website atmospheric induced flow: Insights into online travel agencies in China

Although the study of flow has recently received a lot attention, little is published about what factors controllable by firms influence its formation. Furthermore, there is a lack of knowledge between the relationship of website atmospheric cues and flow experience. Using a stimulus–organism–response framework (S–O–R framework) as the theoretical basis, this study examines the impact of consumer perceptions of website atmospheric cues (informativeness, effectiveness and entertainment) on the development of flow and its subsequent impact on purchase intention and satisfaction. A self-administered online survey was used for data collection through an internet market research firm which randomly selected individuals from its online panel. Our results support the validity of the S–O–R framework in the context of online tourism and indicate that flow fully mediates the three site atmospheric cues with regards to purchase intention and satisfaction with the travel website. This study enhances our understanding on the determinants of online purchase intention and satisfaction as well as on how a proper web atmospheric design alters consumer shopping experience which entices favourable purchase intention and generates satisfaction.     

What makes export manufacturers pursue functional upgrading in an emerging market? A study of Chinese technology new ventures

This study examines unique factors causing emerging market firms to pursue functional upgrading. Our analysis draws on the resource-based view and learning theory, and our study sample consisted of Chinese new technology ventures. We test the effect of governance mechanisms and internal resources on the functional upgrading of firms. The results indicate that trade shows and quality advantage facilitated the functional upgrading of firms. However, contrary to our expectations, electronic markets and technological advancement do not emerge as significant variables. The implications of the results are discussed in consideration of the existing literature, and future research opportunities are described.     

Do global airline alliances influence the passenger's purchase decision?

This study examines the influences of airline global alliances on the purchase intention of international air passengers in Taiwan. The findings indicate positive relationships between global airline alliances, brand equity, brand preference and purchase intention with a moderation effect of involvement impacting on the relationship between global airline alliances and brand equity, and the relationship between brand preferences and purchase intention. In particular, for highly involved passengers, the effect of global airline alliances on brand equity, and brand preference on purchase intention, is significant.     

Beliefs and rationalizability in games with complementarities

We propose two characteristics of beliefs and study their role in shaping the set of rationalizable strategy profiles in games with incomplete information. The first characteristic, type-sensitivity, is related to how informative a player thinks his type is. The second characteristic, optimism, is related to how “favorable” a player expects the outcome of the game to be. The paper has two main results: the first result provides an upper bound on the size of the set of rationalizable strategy profiles; the second gives a lower bound on the change of location of this set. These bounds are explicit expressions that involve type-sensitivity, optimism, and payoff characteristics. Our results generalize and clarify the well-known uniqueness result of global games (Carlsson and van Damme, 1993). They also imply new uniqueness results and allow us to study rationalizability in new environments. We provide applications to supermodular mechanism design (Mathevet, 2010b) and information processing errors.     

Solving the income fluctuation problem with unbounded rewards

This paper studies the income fluctuation problem without imposing bounds on utility, assets, income or consumption. We prove that the Coleman operator is a contraction mapping over the natural class of candidate consumption policies when endowed with a metric that evaluates consumption differences in terms of marginal utility. We show that this metric is complete, and that the fixed point of the operator coincides with the unique optimal policy. As a consequence, even in this unbounded setting, policy function iteration always converges to the optimal policy at a geometric rate.