Application of social media analytics in tourism crisis communication

Given the newly established communication environment of social media and highly unpredictable crisis situations, this study questioned how tourists facing an unexpected crisis situation use social media to communicate and search for information. To this end, this study developed a multi-phased social media analytic framework (data crawling, data processing and text mining, social network analysis, semantic network analysis, and network visualization) to assess the structure of information exchanges between the members of a tourism organization’s social network community and identified influential actors and information content within the social network. This study’s findings suggest genuine ways of relating with and utilizing opinion leaders and influencers in social media marketing communication as well as crisis communication. The authors expect this proposed methodological framework of social media analytics to help other scholars scientifically identify and implement the proper methodologies for utilizing social media data.     

‘How do you feel about a disease?’ The effect of psychological distance towards a disease on health communication

Based on construal level theory, this research addresses the moderating role of an individual's psychological distance towards a disease in the effectiveness of advertising messages framed by two distinctive construal level terms (high-level and low-level). In Experiment 1, two different disease types (bronchitis/distant disease vs. influenza/proximal disease) were featured, with the result that an advertisement with high-level construal terms was more persuasive for a psychologically distant disease (bronchitis) than for a psychologically proximal disease (flu). The reverse was true for an ad framed with low-level construal terms. To replicate Experiment 1 and further test the hypothesis, in Experiment 2, the perceived distance individuals have towards one disease (cancer) was measured and used as independent variable. Consistent with the results from Experiment 1, the low-level construal messages were more effective under the psychologically close condition than the psychologically distant condition. Reverse was true for the high-level construal messages.     

Can Pokémon GO catch brands? The fit effect of game characters and brands on efficacy of brand communications

Given the recent popularity of augmented reality (AR) games, such as Pokémon GO, this study explores the congruence effect of game characters and brands on brand evaluations and the underlying mechanisms of the effect. Prior gaming experience and motivations are taken into account. An experiment reveals that inexperienced gamers are likely to have more favorable evaluations of the target brands when the images of game characters match the brand images, whereas these effects disappear for experienced gamers. Furthermore, the research demonstrates that experienced gamers are more likely to hold game-specific motivations than the inexperienced, while inexperienced gamers are motivated more by social interaction for playing AR games. Lastly, a mediation analysis reveals that social interaction-related motivation mediates inexperienced gamers’ preference of character–brand congruence. This study sheds light upon how AR games can be utilized by brand communicators.     

Consumer engagement behaviors in the online wildlife trade: Implications for conservationists

This study investigates consumer engagement behaviors in the online wildlife trade, drawing implications for conservationists. The first study undertook a quantitative content analysis of 500 Facebook posts in wildlife trade lateral exchange markets to show how creative strategies, media type and persuasion tactics influence the number of likes and comments that posts receive. The second study then undertook a thematic discourse analysis to develop a rich understanding of the culture, beliefs and motivations that influence how consumers engage in the markets. Findings showed that an overwhelming majority of posts use a functional or informational strategy and that when posts use overt persuasion tactics the number of comments decrease. A conceptual model of how cultural factors may impact the success of marketing strategies is then proposed. These findings have implications for conservationists who seek to build engagement with wildlife trade consumers online.     

Foreign versus domestic institutional investors in emerging markets: Who contributes more to firm-specific information flow?

Using a large sample of firms listed on the Korea Stock Exchange over 1998–2007, this study investigates whether and how trading by foreign and domestic institu...     

Anchored putter ban: An examination of whether anchored putting impacts career success and putting performance

The Professional Golfers' Association (PGA) Tour ban on anchored putting (Rule 14‐1b) took effect on January 1, 2016. The ban remains controversial because the governance decision appears to have been made without adequate empirical evidence. Accordingly, to investigate the efficacy of the ban, the impact of using anchored putters on PGA golfers' career success and putting performance was examined. PGA golfers ranked in the top 125 were studied from 2009 to 2015. The analysis revealed an anchored putter offered no unfair advantage with regard to improving players' career success or putting performance when compared with standard putter usage by PGA golfers.     

Financing Technological Innovation: Evidence from Patent-Intensive Firms

ABSTRACT

Equityholders of firms with high debt loads have an incentive to underinvest, a distortion that can be most costly for firms with attractive growth options. Using a novel patent-based measure of a firm's growth options, we find that firms issue more equity and shy away from debt financing when they have larger investment opportunities sets. The results are more pronounced among firms in patent-intensive industries. The findings suggest the existence of conflicts of interest between debtholders and equityholders. Our results are consistent with the use of conservative debt policies by technology-intensive firms to mitigate the debt overhang associated with their future growth options.     

Is the environment‐friendly factor attractive to customers when purchasing electric vehicles? Evidence from South Korea

In a bid to reduce greenhouse gas emissions, several countries worldwide are implementing policies to promote electric vehicles (EVs). However, contrary to expectations, the diffusion speed of EVs has been rather slow in South Korea. This study analyzes consumer preferences for the technological and environmental attributes of EVs and derives policy and environmental implications to promote market diffusion of EVs in South Korea. We conduct a choice‐based conjoint survey of 1,008 consumers in South Korea and estimate the consumer utility function using a mixed logit model considering consumer heterogeneity. Based on the consumer utility function, we analyze consumers' willingness‐to‐pay (WTP) for EV attributes such as driving range, charging method, charging time, autonomous driving function, carbon dioxide (CO₂) reduction rate, and purchase price. The results indicate that the current low acceptance of EVs is due to their relatively high price and lack of a battery charging technology that satisfies consumers' expectations of the charging method and time. One interesting finding is that Korean consumers have a relatively higher WTP for the CO₂ reduction rate of EVs than consumers in other countries; however, they do not consider CO₂ reduction over other technological attributes when choosing EVs. This implies that the rate of CO₂ reduction of EVs is not an important factor for South Korean consumers when buying EVs. We also calculate the effect of CO₂ reduction with the market penetration of EVs and find that CO₂ reduction through the diffusion of EVs depends on the country's electricity generation mix.     

Heterogeneity and netting efficiency under central clearing: A stochastic network analysis

This paper examines the effect of heterogeneity in clearing members’ exposure management practices under central clearing. Our network model specifies the dynamics of prenetted interbank exposures to shape interdependent exposure distributions beyond normality. Employing over-the-counter derivatives market data from the U.S. Office of the Comptroller of the Currency, our simulation results indicate that heterogeneity in bank-to-bank exposure dynamics is systemically desirable, while the entire system benefits more from the central clearing in more homogeneous environments. Policymakers should incentivize individual clearing members to enhance resiliency and stability in counterparty exposure management to maximize netting efficiency under central clearing.     

Personalized goal-based investing via multi-stage stochastic goal programming

In this paper, we propose a goal-based investment model that is suitable for personalized wealth management. The model only requires a few intuitive inputs such as size of wealth, investment amount, and consumption goals from individual investors. In particular, a priority level can be assigned to each consumption goal and the model provides a holistic solution based on a sequential approach starting with the highest priority. This allows strict prioritization by maximizing the probability of achieving higher priority goals that are not affected by goals with lower priorities. Furthermore, the proposed model is formulated as a linear program that efficiently finds the optimal financial plan. With its simplicity, flexibility, and computational efficiency, the proposed goal-based investment model provides a new framework for automated investment management services.