How CSR Leads to Corporate Brand Equity: Mediating Mechanisms of Corporate Brand Credibility and Reputation

The purpose of this study is to investigate the relationships among corporate social responsibility (CSR), corporate brand credibility, corporate brand equity, and corporate reputation. Structural equation modeling analysis provided support for the hypotheses from a sample of 867 consumers in South Korea. The results showed that CSR has a direct positive effect on corporate brand credibility and corporate reputation. In addition, the results indicate that corporate brand credibility mediates the relationship between CSR and corporate reputation. Moreover, corporate brand credibility mediates the relationship between CSR and corporate reputation. Finally, the relationship between CSR and corporate brand equity is sequentially and fully mediated by corporate brand credibility and corporate reputation. The theoretical and managerial implications of the results and limitations are discussed, and future research directions are suggested.     

Exploring the Role of Travel and Tourism in Sharing Economy Activities: A Case Study of South Korea

This study explores the role of travel and tourism in sharing economy activities by using a case study of Seoul, South Korea. The findings reveal 1) significant associations between respondents’ demographic and socio-economic characteristics and their participation level in diverse sharing economy activities; 2) significant differences in future intention to participate in diverse sharing economy activities among groups; and 3) interest in travel and tourism was most strongly related to future intention to participate in diverse sharing economy activities. Policy making implications of the sharing economy focused on the role of travel and tourism are discussed in the conclusion.     

Cross‐hedging and forward‐contract pricing of electricity in the Pacific Northwest

This paper develops a linear regression model for using actively traded NYMEX natural gas futures as a cross‐hedge against electricity spot‐price risk in the Pacific Northwest and for pricing the forward contracts in the presence of temperature and hydro risks. Our approach comports with reality and provides power purchasers with an effective instrument through which they can hedge their electricity bets through natural gas futures. It also demonstrates the sharp month‐to‐month variations in the natural gas futures' optimal hedge ratios and hedge effectiveness. Finally, it finds significant risk premiums in the Pacific Northwest forward prices, supporting the hypothesis that forward‐contract buyers are relatively more risk‐averse than sellers. Copyright © 2011 John Wiley & Sons, Ltd.     

Family-supportive organizations and supervisors: how do they influence employee outcomes and for whom?

In the present study, we examine a model which seeks to specify the process through which work-family supportive organizations and supervisors influence important organizational outcomes, including commitment and performance. Findings indicated that family-supportive organization perceptions are best conceptualized as influencing family-supportive supervisor behaviors, which in turn influence subordinate self-efficacy, subordinate affective commitment to the organization and subordinate perceptions of supervisor work effort. Subordinate self-efficacy and affective commitment were also both found to independently mediate the relationship between family-supportive supervisor behaviors and self-rated performance. Interestingly, the model functioned similarly for employees with and without dependent care responsibilities, indicating that work-family policies and support are important for all employees, regardless of their familial status. Theoretical and practical implications, limitations and future research directions are discussed.     

Experience value: antecedents and consequences

This article outlines and tests a holistic model of tourist experience that includes the effects of the antecedents and consequences of the perceived value of an on-site trip experience. Based on the literature and the results from the present research, this article develops a framework of perceived value experience and its antecedents, such as tourist motivation, involvement, and knowledge, and consequences, such as satisfaction and future intention, in terms of recommendations and repeat purchase. Structural equation modelling is applied to test the model. The results strongly support the notion that the constructs of motivation, involvement (to a lesser extent), and tourist knowledge serve as antecedents to the perceived value of a holiday experience, which influences the consequences of behaviour, such as satisfaction and loyalty.     

Association between Big 4 auditor choice and cost of equity capital for multiple‐segment firms

Prior studies document a negative association between Big 4 auditor choice and the implied cost of equity capital, suggesting that Big 4 auditors mitigate information asymmetry (IA) between shareholders and managers. This study extends this line of research and reports that the negative association is more pronounced in multiple‐segment firms, where IA is more severe than in single‐segment firms. We also find that the association between Big 4 auditor choice and the cost of equity capital becomes more negative as the number of segments increases. Taken together, our findings suggest that the role of Big 4 auditors in reducing the cost of equity capital becomes more significant when greater IA exists.