A computational framework for analyzing dynamic auctions: The market impact of information sharing

This article develops a computational framework to analyze dynamic auctions and uses it to investigate the impact of information sharing among bidders. We show that allowing for the dynamics implicit in many auction environments enables the emergence of equilibrium states that can only be reached when firms are responding to dynamic incentives. The impact of information sharing depends on the extent of dynamics and provides support for the claim that information sharing, even of strategically important data, need not be welfare reducing. Our methodological contribution is to show how to adapt the experience-based equilibrium concept to a dynamic auction environment and to provide an implementable boundary-consistency condition that mitigates the extent of multiple equilibria.     

International R&D Spillovers: Trade,FDI, and Information Technology as Spillover Channels*

With the rapid pace of economic integration, the productivity of a country depends not only on domestic R&D, but also on foreign R&D through technology diffusion across countries. The advancement of information technology (IT) has made the international transmission of knowledge faster and more efficient, providing an important channel for international R&D spillovers. This paper investigates three channels of international R&D spillovers: trade, FDI, and information technology. Applying panel cointegration and dynamic OLS analysis to the data for 21 OECD countries plus Israel during the period from 1981 to 1998, we find that bilateral trade remains an important conduit for international R&D spillovers. Although bilateral FDI is found to be positively related to international R&D spillovers, their impact on productivity growth is relatively small. We also find that the development of information technology has played a more important role in international R&D spillovers and productivity growth in recent years.     

European Sector Returns and Capital Market Integration

The paper tests European capital market integration at the sector level. It examines the recent trend of sector‐level returns for four European countries, France, Germany, Italy, and the UK, using “return on assets” of a panel of listed firms of these countries for the period 1988–95. Initial findings suggest that sector returns have converged across countries over time. However, when integration is tested within a capital‐asset pricing model framework, the country effect remains strong. The overall results support the view that European capital market integration is under way, but is far from complete.     

When Do Employees Cyberloaf? An Interactionist Perspective Examining Personality,Justice, and Empowerment

Cyberloafing—using the Internet for non‐work‐related activities—is a prevalent counterproductive work behavior in the workplace, but researchers have not yet paid sufficient attention to this issue, especially related to the role of personality in cyberloafing. Recognizing such a research gap, and using a trait activation theory framework, this study examines whether conscientiousness and emotional stability negatively relate to cyberloafing. We further investigate how organizational justice perceptions and psychological empowerment moderate the negative relationship between these personality traits and cyberloafing. Based on a sample of 247 employees, we find that those high in conscientiousness cyberloaf less when they perceive greater levels of organizational justice. In addition, highly conscientious individuals cyberloaf less when they have low, rather than high, levels of psychological empowerment. Implications for research and practice as well as future research directions are discussed. © 2015 Wiley Periodicals, Inc.     

The Research‐Practice Gap in Human Resource Management: A Cross‐Cultural Study

In this study, we examine the cross‐cultural differences in human resource (HR) managers’ beliefs in effective HR practices by surveying HR practitioners in Finland (N = 86), South Korea (N = 147), and Spain (N = 196). Similar to previous studies from the United States, the Netherlands, and Australia, there are large discrepancies between HR practitioner beliefs and research findings, particularly in the area of staffing. In addition, we find that interpersonal‐oriented aspects of HR practices tend to be more culturally bound than technical‐oriented aspects of HR practices. We interpret the differences using Hofstede's cultural dimensions (Power Distance, Individualism versus Collectivism, Masculinity versus Femininity, Long‐Term Orientation versus Short‐Term Orientation, and Uncertainty Avoidance). We discuss the overall nature of the science‐practice gap in HR management, and the implications for evidence‐based management. © 2014 Wiley Periodicals, Inc.     

Economic and policy implications of spectrum license fee payment methods

This paper argues that “Do auctions raise consumer prices?” is a misleading question. License fee payment methods, rather than spectrum assignment methods, are key factors that bring forth different market outcomes in the wireless telecommunication industry. This paper analyzes and discusses the effects of three spectrum license fee payment methods—upfront lump-sum fees, royalties, and profit sharing—on economic efficiency, spectrum supply, and government revenue. Royalties create distortions in product and factor markets but can induce the government to increase spectrum supply and encourage firms’ investments. A caveat is that the analyses are based on the model assuming monopoly market and information certainty.     

Antecedents of Customer Satisfaction and Customer Loyalty for Emerging Devices in the Initial Market of Korea: An Equity Framework

This study investigates the relevant predictors of customer satisfaction and customer loyalty, and explores the group difference by innovativeness or device type, based on equity theory for emerging devices in the initial market of Korea. The results from an online survey of users of emerging devices and structural equation modeling indicate that utilitarian benefit, hedonic benefit, nonmonetary cost, and alternative attractiveness are significant predictors of customer satisfaction, which in turn affects customer loyalty. Hedonic benefit has a stronger relationship with customer satisfaction for more innovative users and nonmonetary cost has a stronger relationship with customer satisfaction for less innovative users. Nonmonetary cost has a negative relationship with customer satisfaction for netbooks; an additional exploratory analysis produced no such evidence for smartphones. These findings suggest managerial implications for customer loyalty regarding emerging devices.