Partial International Coordination in the Great Fish War

This study extends the great fish war model of Levhari and Mirman [Levhari, D. and Mirman, L. (1980) Bell Journal of Economics 11: 322–344] by incorporating a multiple country context into the model and investigates the existence of a partial coordination Nash equilibrium. First, findings of this paper suggest that a partial coordination scheme is sustainable only in limited cases. Any coalition that has more than two member countries cannot be sustained. Second, the existence and the number of coordinating countries depend critically on the magnitude of the biological and preference parameters. Finally, if the coalition is assumed to be a dominant player, there always exist one or two welfare-improving sustainable coalitions and the size of the sustainable coalitions depends on the parameters of the problem.     

Finite Dimensional Affine Realisations of HJM Models in Terms of Forward Rates and Yields

Finite dimensional Markovian HJM term structure models provide ideal settings for the study of term structure dynamics and interest rate derivatives where the flexibility of the HJM framework and the tractability of Markovian models coexist. Consequently, these models became the focus of a series of papers including Carverhill (1994), Ritchken and Sankarasubramanian (1995), Bhar and Chiarella (1997), Inui and Kijima (1998), de Jong and Santa-Clara (1999), Björk and Svensson (2001) and Chiarella and Kwon (2001a). However, these models usually required the introduction of a large number of state variables which, at first sight, did not appear to have clear links to the market observed quantities, and the explicit realisations of the forward rate curve in terms of the state variables were unclear. In this paper, it is shown that the forward rate curves for these models are affine functions of the state variables, and conversely that the state variables in these models can be expressed as affine functions of a finite number of forward rates or yields. This property is useful, for example, in the estimation of model parameters. The paper also provides explicit formulae for the bond prices in terms of the state variables that generalise the formulae given in Inui and Kijima (1998), and applies the framework to obtain affine representations for a number of popular interest rate models.     

The effect of host country Internet infrastructure on foreign expansion of Korean MNCs

This study examines the effect of host country Internet infrastructure on a multinational corporation (MNC) foreign expansion. Using Heckman’s selection model on a sample of 2589 subsidiaries of 487 Korean MNCs between 1990 and 2011, we find that host country Internet infrastructure is important in MNC expansion decisions. In addition, we find that a well-developed Internet infrastructure within a host country leads to more investments from MNCs producing consumer over industrial goods and is more attractive to domestic market followers than market leaders. We find that the host country’s Internet infrastructure is important for an MNC foreign expansion decision, suggesting that efficient communication within an MNC is critical in coordinating globalized MNC subsidiary operations.     

The past,present, and future of brand research

Marketing Letters - This article discusses the past, present, and future of brand research. We begin by reviewing three historical eras of branding development in the past: the information,...     

Activation and variation of the United Nation’s cluster coordination model: a comparative analysis of the Haiti and Japan disasters

The coordinated response to extreme events is critical as illustrated by recent disasters in Haiti and Japan. As a way for coordinated provision of international humanitarian assistance to disaster-hit countries, the Office for the Coordination of Humanitarian Affairs (OCHA) developed cluster coordination model (CCM). With content analysis and network analysis of OCHA situation reports, this study checked four premises regarding activation of CCM, interaction between national and international actors, roles of proximity country, and level of cluster coordination. This study found that there were meaningful variations in implementing the CCM for 2010 Haiti and 2011 Japan disasters. From the analyses, we found that the current CCM may be vulnerable to black swan disasters; thus, extensive and active estimation of national disaster management capacities should be conducted to prevent collapse of national disaster management system. However, the reconciliation of state sovereignty and international humanitarian assistance also should be considered.     

Dimensions of strategic intervention for risk reduction and mitigation: a case study of the MV Sewol incident

Organizations in disaster management system should learn from previous experience and strategically use their lesson for the refinement of a system’s competencies for risk management. However, the MV Sewol incident revealed the absence of the organizational learning in the Korean disaster management system. With mixed methods of content analysis, in-depth interview, and social network analysis, this study identified key failure factors in response to the incident and categorized them by managerial, structural, and institutional domains. While the Korean government took bold steps to rebuild its risk management system, those efforts were biased to structural reforms and lacked fundamental changes in human and informational resources management. Based on the findings, this study suggests the balanced efforts for system refinement for effective risk management.     

The Influence of Plan Demographics on Contribution Behavior of 401(k) Participants

This article examines the influence of plan demographics, which is defined as the salary and tenure composition of a plan, on contribution behavior of 401(k) participants. Results using a large sample of 401(k) plans show that plan demographics influence participant contribution rates directly or through interaction with individual demographic characteristics. A participant's contribution rate can be varied by 1.6–3.0 percentage points for each age between 25 and 64, depending on what plan demographics she is exposed to. In addition, for the decision to contribute the maximum allowed amount, plan demographics significantly interact with individual demographic characteristics.     

Employee emotional response toward healthcare organization’s service recovery efforts and its influences on service recovery performance

Previous studies on service recovery performance of frontline employees have focused primarily on the direct relationship with the organizational efforts for service recovery. However, based on the reformulation of attitude theory (appraisal-emotional response-behaviour), we believe that the emotional responses (work engagement and burnout) toward organizational efforts for service recovery of frontline employees mediate the relationship. Thus, the purpose of this study is to examine how healthcare frontline employees show their emotional response toward the organizational efforts for service recovery and it influence on actual recovery performance. This study uses two conflicting emotional responses, burnout and work engagement, to examine how employees react toward organizational efforts, helping better understand employees?? evaluations of the efforts. Research model and hypothesis were tested using a sample of frontline employees who perform none-clinical activities in hospitals. The results showed that teamwork and empowerment have positive effects on work engagement. In addition, customer complaint management, empowerment, and teamwork influenced negatively on burnout. Lastly, work engagement and burnout showed statistically significant impact of service recovery performance of frontline employees. Among the organizational efforts for service recovery, teamwork was the most important factor in improving frontline employees?? work engagement and lessened their burnout, respectively. Interestingly, customer service training had a negative effect on burnout. Besides, by comparing our research model to two alternative models, we confirmed the validity of the research model.     

Social Capital, Household Welfare and Poverty in Burkina Faso

This paper investigates empirically the importance of socialcapital, in the form of local associations and networks, forthe welfare of rural households in Burkina Faso. It draws ona unique database combining standard information on householdwelfare with multidimensional measures of social capital. Theanalysis finds that higher levels of social capital are associatedwith higher household per capita expenditures and better accessto credit. The distribution of social capital was found to bemore equal than that of other assets. Poor households and thosewho own little land obtain a higher return from social capitalthan other households.