The effects of eWOM characteristics on consumer ratings: evidence from TripAdvisor.com

Abstract

Given the rise of online review communities, the management of consumer ratings has gained much attention in the recent years. In this study, we use data from Tripadvisor.com and examine the number of stars that a review receives. Specifically, we address how a star rating is determined by the components in the focal review as well as the preceding reviews of other consumers. Our qualitative and quantitative analyses provide interesting findings as follows. A star rating has a positive relationship with the focal review’s valence. That is, the more positive a review is, the greater number of stars a review receives. The reviews of other consumers also play a role in determining a star rating of the focal review suggesting social influence among consumers. Interestingly, a review with lengthy content leads to a lower star rating only when using smartphones. We conclude with theoretical and managerial implications.     

Consumer and Corporate Debt: A Neo‐Kaleckian Synthesis

We present a neo‐Kaleckian growth model with both consumer and corporate debt. The model's macrodynamic and stability characteristics differ from singleߚdebt models, yet some steadyߚstate results persist. For example, a surge in ‘animal spirits’ is good for steadyߚstate growth, and consumer borrowing can help to sustain aggregate demand. Stable steady states are characterized by a kind of ‘euthanasia of the rentier’. Consumer credit conditions influence effective demand, the profit rate and economic growth. Looser consumer credit conditions have a steadyߚstate growth effect and can enhance system stability. In this restricted sense, looser consumer credit conditions are good for macroeconomic stability.     

The performance of traders' rules in options market

This study focuses on the usefulness of the traders' rules to predict future implied volatilities for pricing and hedging KOSPI 200 index options. There are two versions of this approach. In the “relative smile” approach, the implied volatility skew is treated as a fixed function of moneyness. In the “absolute smile” approach, the implied volatility skew is treated as a fixed function of the strike price. It is found that the “absolute smile” approach shows better performance than Black, F. and Scholes, L. ( 1973 ) model and the stochastic volatility model for both pricing and hedging options. Consistent with Jackwerth, J. C. and Rubinstein, M. (2001) and Li, M. and Pearson, N. D. (2007), the traders' rules dominate mathematically more sophisticated model, that is, the stochastic volatility model. The traders' rules can be an alternative to the sophisticated and complicated models for pricing and hedging options. © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 29:999–1020, 2009     

Counting angels: a comparison of personnel and HR specialists

This article uses data from the 1998 Workplace Employee Relations Survey to explore the extent to which the characteristics and job‐related activities of specialists who use the title 'human resources' differ from those who use the title 'personnel'. The results demonstrate that specialists using the HR title are better qualified than those using the personnel title and they are more involved with strategic planning. Additionally, employee development is more likely to be included in strategic plans, and there is slightly greater evidence of devolution of responsibility to supervisors where the specialist uses the HR rather than the personnel title. Finally, several practices commonly associated with HRM, such as personality tests, attitude surveys and off‐the‐job training, are more likely to have been adopted in workplaces that have an HR specialist than in those that have a personnel specialist.     

US Foreign policy in the war against terrorism: Challenges,prospects, and ROK's desirable options

Despite the September 11 incident, the US should consider investing more resources in Northeast Asia and Europe rather than focusing all its energy on the terrorists. While consolidating its existing grand strategy of promoting democracy and the market economy, the US may need to draw more support from its major allies to be better prepared against the multi‐spectrum conflicts. As for South Korean options, it is desirable to level up its support for America's war in Afghanistan and also for the long‐term fight against terrorism. In addition, the ROK‐US readiness against potential North Korean terrorism and asymmetric threat should be improved through closer bilateral consultation and coordination.     

Systemic Risk,Financial Crisis,and Credit Risk Insurance

Differing from conventional insurance firms whose underwriting business does not contribute to systemic risk, credit risk insurance companies providing credit protections for debt obligations are exposed to systemic risk. We show that credit risk insurers (CRIs) underperformed conventional insurance companies during the 2007–2009 financial crisis, and such underperformance is attributed to the greater systemic risk of CRIs. We also find that the credit spreads of insured bonds increase significantly after their insurers are downgraded or put in the negative watch list. We control for alternative factors affecting bond credit spreads and the result is robust.     

论我国企业建立和提升高技术能力的途径

为了发展高技术产业，我国需要建立和提高强大的高技术能力。企业是其中的关键环节。本文研究我国企业建立和提升高技术能力的途径：选择正确的技术战略；获得公开的技术知识，开发暗含的企业特定的技术知识；强化技术生产者同用户、供应商、大学、科研机构之间的联系；正确选择技术来源。     

世界无毒农业发展的经验与启示

继金融危机之后,生态危机不断爆发,对于人类经济社会可持续发展的关注持续升温。无毒农业为人类提供了一个运用科技改造传统农业生产方式并持续修复自然生态的产业发展和利润空间。世界各国和地区立足资源要素特质,探索各具特色的无毒农业模式,在法律体系、政策支持、产业规范和产业链经营等方面为中国大陆发展无毒农业提供了有益的经验启示。     

奇瑞汽车集团创新发展的启迪

本文分析了奇瑞集团在自主开发、自主创新和国际市场开拓等方面所取得的成效,指出了奇瑞集团所带来的社会效应和经济效益,同时分析结了奇瑞集团给我国汽车产业发展带来的启迪.