The influence of supermarket attributes on perceived customer satisfaction: an East Asian study

Despite the proliferation of theoretical developments in the area of western consumer behaviour, to date the likelihood of Asian variants to existing consumer behavioural models has not been explored in any detail. Based on prior research in the field of retail attribute testing this empirical study investigates the influence of supermarket store attributes on Chinese (Macau) customer satisfaction moderated by the biographical factors of age and income. The results indicate that the store attributes of distance and speed of check out were significant for age, and that delivery service and price reductions were significant by income. Total independent variable rankings indicated store location, price and product variety were perceived by Chinese respondents as being the most important store attributes influencing satisfaction.     

The internationalization of the RMB: a perspective vis a vis East Asian economic and financial integration

The People’s Republic of China has achieved remarkable progress in the internationalization of the RMB by introducing a number of concrete measures to boost the RMB’s status on the world stage since 2009. The ongoing RMB internationalization is being promoted under the background of deepening economic and financial integration in East Asia. In this article, we attempt to analyse RMB internationalization from the perspective of East Asian regional integration. We hypothesize that East Asian regional integration lays a broad foundation for China to push RMB internationalization forward. An internationalized RMB, we argue, will play more important roles in the process of East Asian regionalization. Thus, RMB regionalization could be an important and necessary step of internationalization. The Chinese authorities should not only push the RMB toward internationalization under China’s framework of domestic financial system reform, but they should also integrate RMB internationalization into the process of East Asian economic and financial integration. Therefore, a win–win strategy of RMB internationalization for both China and East Asian countries is needed.     

东亚自由贸易区的构建问题

20世纪90年代以来,东亚经济蓬勃发展,世贸组织规则,具备合适的广度和深度。可盟分别与中日韩合作,与东盟自由贸易区合,建立东亚自由贸易区的具体途径。但经济迅速．自由贸区建设、须符以考虑二为一展亚易化发东贸小贸以由最经所自本边,亚成多强东、国加动化各步推大亚一,最东进的益于性行利由赖可的。依的区慢和要易缓性必贸程补是由进互建自化的构争体济区力摘一经易要合东等     

Are the East Asian markets integrated? Evidence from the ICAPM

We test a conditional international asset pricing model with both world market and domestic risk included as independent pricing factors for five East Asian markets, the US and World markets. We model second moments and risk exposures using a bi-diagonal multivariate GARCH(1,1) process. We document that this novel GARCH specification provides a significantly better fit of the return process than a standard diagonal specification. Although exposure to world market risk carries a significant premium across all markets, we find little support for the hypothesis that exposure to residual country risk is rewarded. However, residual country returns are significantly related to exchange rate changes. Hence, we find surprisingly little evidence of market segmentation in East Asia over the period 1985–1998.     

Are East Asian Companies Benefiting from Western Board Practices?

Since the Asian crisis, East Asian nations have strived to introduce corporate governance codes, directing companies how to best improve their corporate governance practices. However, these codes have not been universally accepted by East Asian companies. This study examines the adoption of major board-related corporate governance recommendations by large non-financial companies in seven East Asian nations and investigates whether improvements in these board governance mechanisms have been associated with increased operating performance and market value. The results indicate that family-owned companies started with worse board governance and have been least likely to improve their board governance since the crisis. Overall, bigger, faster growing, non-family-owned companies with less concentrated ownership have been more likely to improve their board governance. Splitting of the positions of Chairman and CEO, creation of audit and nomination committees and improvements in overall board governance were found to have a positive relationship with subsequent operating performance and/or market value. John Nowland is a Finance Lecturer at Queensland University of Technology in Australia. He holds a research masters degree and is completing his PhD at the University of Queensland. His current research focuses on corporate governance and capital markets in Asia.     

美国参与东亚区域合作对中国的影响研究

在亚太框架下的贸易自由化一直进展缓慢,直到最近,亚太的经济合作才出现实质性的进展。特别是美国不仅与东盟10国签订了贸易和投资框架协议,还与韩国、澳大利亚开始贸易自由协定的谈判,美国对东亚区域合作的参与度越来越高。对于中国而言,美国参与东亚的贸易自由化进程对其会有什么样的影响,是值得密切关注的。文章基于GTAP模型对美国参与东亚区域合作的路径进行模拟,并基于模拟结果分析其对中国的影响。结果表明,中国不参与东亚区域合作是弊大于利,而参与则是利大于弊。中国需要注意的问题:一是积极参与东亚区域合作是最优策略;二是要注意美国的扼制策略,积极加强自由贸易区建设。     

东亚信息技术产业的区内与区外贸易模式实证分析

东亚IT产业发展的贸易模式有如下特点:第一,东亚IT产业的技术来源于美国。通过承接美国计算机企业的"外包"业务,东亚在IT硬件设备制造领域建立了完整的生产体系。第二,东亚与美国的IT产品贸易主要集中在集成电路与电子部件,反映了美国企业将IT中间产品"外包"到东亚区域以降低生产成本,推动了全球IT产品的国际外包浪潮。第三,东亚区域内贸易模式不同于东亚—美国之间的贸易特征,日本、韩国和东盟通过向我国出口集成电路及其电子零部件获得了巨额的贸易顺差,而我国则将进口的集成电路和电子零部件装配成电子产品出口到美国和世界各地。     

Effects of institutions on ecological attitudes and behaviour of consumers in a developing Asian country: the case of the Philippines

This study examines the effects of institutions emanating from the social environment on ecologically sustainable consumer behaviour in a developing country context. Drawing on the behavioural perspective model of consumer choice and institutional theory, this study argues that the regulative, normative and cognitive dimensions of the institutional environment play critical roles in shaping the pro‐environmental attitudes called eco‐attitudes of consumers. In turn, eco‐attitudes positively influence the eco‐behaviour of consumers. The structural equation modelling of data from a survey of 1045 consumers from the Philippines shows the significant and positive effects of the regulatory, normative and cognitive dimensions of the institutional environment on the eco‐attitudes of consumers, which in turn have strong positive influence on eco‐behaviour. The findings about the partial mediating role of eco‐attitudes offer a more nuanced explanation on how institutions explain the eco‐behaviour of consumers which is a topic that is less understood especially in a developing country context. The study highlights the theoretical, methodological, policy and future research implications of the findings.     

东亚区域生产网络发展与东亚区域经济合作的深化

随着产品内分工的发展,东亚区域生产网络的日益深化已成为东亚区域经济发展不可逆的趋势。本文梳理了东亚区域生产网络的表现和特征,对东亚区域生产网络引起的东亚贸易结构变化进行了探讨,分析了东亚区域生产网络对东亚各经济体的影响,揭示了东亚区域生产网络存在的缺点和潜在问题,并提出在东亚区域经济合作不断深化的背景下,促进东亚区域生产网络进一步发展的策略。     

东亚贸易模式转变——基于国际生产网络的视角

自20世纪90年代以来,“雁行”国际分工与组织模式逐渐衰落,其带动东亚贸易发展的作用下降。然而,东亚贸易的发展并没有因此失去发展的动力,相反东亚贸易继续快速发展并在贸易发展模式上发生了翻天覆地的变化。文章从国际生产网络这一新的主导东亚贸易发展的分工与组织方式的视角,考察近年来东亚贸易模式的转变,并对东亚未来贸易发展模式进行展望。     

Culture as grand theory in East Asian employment relations

Considerable emphasis has often been placed on cultural factors in explaining the peculiarities of East Asian employment relations. By comparison with workplace relations in the West, East Asian employment relations are characterized by low rates of unionization and collective bargaining, and a relative absence of industrial disputation. A critique of notions of culture found in employment-relations scholarship is presented which draws on long-established conceptualizations developed in historical, post-colonial, anthropological and cultural studies. Most of the peculiarities of East Asian workplace relations can be adequately accounted for through manners other than invoking a grand theory of culture.     

中国企业参与东亚垂直专业化分工的生产率溢出效应--基于企业层面微观视角的考察

本文使用2000－2006年中国工业企业数据库和中国海关贸易数据库测度中国企业参与东亚垂直专业化分工程度,发现企业参与东亚垂直专业化分工的程度呈现一种上升的态势,且这种上升更多地表现为一种产业内效应。在此基础上,估计企业参与东亚垂直专业化分工的生产率溢出效应的结果显示,企业参与东亚垂直专业化分工程度对企业的全要素生产率有着显著的促进作用,企业参与东亚垂直专业化分工的贸易方式、企业所有制类型及企业所属行业类型是影响垂直专业化生产率溢出效应的重要因素。     

双边贸易的本地市场效应——基于东亚地区制造业部门的实证研究

本文基于2000-2006年东亚地区主要经济体间的双边贸易数据,研究并检验了该地区制造业部门双边贸易的本地市场效应。结果发现:东亚地区制造业部门的双边贸易整体上并不存在本地市场效应,只有个别行业表现出了显著的本地市场效应;而由相对要素禀赋条件和人均GDP所决定的传统比较优势因素对该地区制造业贸易模式的决定和影响仍是非常重要;此外,我们还发现劳动密集型产品是东亚地区制造业部门双边贸易的主要产品,必需品又是其中的主导消费部门。     

东亚经济金融合作的进展与前景

区域经济金融合作的最高境界就是完全的经济一体化,这已成为当代世界一股不可阻挡的潮流。自1961年东盟成立以来,东亚区域经济金融合作的进程一直比较缓慢。1997年的亚洲金融危机使各国深刻认识到,只有加强合作,逐步实现经济的一体化,才能共同抵御风险。本文通过对东亚区域经济金融合作进展的描述,预测了东亚经济金融一体化的前景,展望了东亚经济金融一体化的新纪元。     

Information Economics of Asian Bond Markets: A Comparative Analysis of Credit Agencies

ABSTRACT

This paper examines financial data and credit ratings of corporate bond issuers in East Asia. The empirical results suggest that the U.S.-based credit agency principally monitors issuers' creditworthiness as a determinant of corporate bond ratings. In contrast, local agencies focus on profitability and firm size. We consider that the similarities and differences in determinants originate from the following: (1) the business experience of agencies; and (2) the degree of development of each individual market.     

Culture,cognitive style and consumer response to informational vs. transformational advertising among East Asians: Evidence from the PRC

Existing literature suggests that people's cognitive styles vary significantly across nations and cultures, and that East Asians emphasize holistic information processing and are more receptive to transformational advertising than people in the West. Yet, both theoretical rationale and empirical evidence of the effect of cognitive style on consumers' advertising responses are lacking. This study proposes a congruency-activation model and adopts a three by two experimental design to examine Chinese consumers' attitude towards different advertisements. The results indicate that Chinese consumers prefer transformational and integrated ads to informational ads under both low and high involvement conditions. Protocol analysis shows that Chinese consumers engage in more affective processing than cognitive thoughts. Thus, marketers should consider the effect of the cognitive style of indigenous consumers when devising international advertising strategies.     

Consumer ethics,materialism and material satisfaction: A study on Turkish adolescent consumers

The aim of this study is to reveal the differences among consumer ethics, materialistic attitudes and material satisfaction of the adolescents across the socio‐economic level and gender in Turkey. The sample of the study is formed by randomly selected high schools students (n = 350) in Ankara. The results indicated that consumer ethics, materialistic attitudes and material satisfaction varied according to socio‐economic level (p < .01). Among materialistic attitudes and material satisfaction, only a significant difference is found on consumer ethics across the gender. There is no significant difference among gender on materialistic attitudes and material satisfaction. In general, males’ ethical beliefs were found lower than the females.     

Adapting adaptation: Expanding adaptive strategy theory to account for the East Asian business context

This paper extends international business theory by providing insights into contextual boundaries of the dominant strategic adaptation model, based on assumptions of low power distance and a bottom-up management style. We challenge them by examining the context of Asian organizations with contrasting management style and ask how it is possible for them to adapt. We propose a supplementary “top-down” model of adaptation, supported by empirical data from East Asian organizations. The model involves low autonomy of lower- and middle-level managers, but fluid communication from bottom to top, enabling informed but authoritarian adaptive decision-making exclusively at the behest of top management.     

Factors affecting non‐green consumer behaviour: an exploratory study among Chinese consumers

The purpose of this study was to explore the factors that affect a typical non‐green consumption behaviour among Chinese consumers. A conceptual framework was developed and an empirical study was conducted using a geographically diverse sample of Chinese consumers. Based on the consumer choice theory, the conceptual framework in the current study included both economic and non‐economic factors. Ten research hypotheses were developed under the framework. A survey was conducted among 600 consumers in four cities in China in 2013. Confirmatory factor analysis and hierarchical regression analysis were used for hypothesis testing. The empirical results showed that consumer preference, reference groups, and face perception have a significantly positive effect on the consumers’ non‐green consumption behaviour; whereas budget constraints and social responsibility consciousness have a significantly negative effect on the consumers’ non‐green consumption behaviour. Furthermore, the current research demonstrated that the relationships between consumer non‐green behaviour and its four antecedents – budget constraint, reference groups, social responsibility consciousness and face perception – are significantly moderated by extravagant atmosphere; whereas the relationship between consumer non‐green behaviour and consumer preference is not moderated by extravagant atmosphere.     

东亚经济合作之日本因素探析

日本作为东亚地区最大的发达国家,在东亚经济合作中起着举足轻重的作用。从日本因素角度研究东亚经济合作,分析新时期日本参与东亚地区经济合作的原因以及在当前的国际环境下日本的国际战略,得出的结论是,地区主义应该成为21世纪日本最重要的对外战略。