Experiential and involvement effects on the Korean wine tourist's decision-making process

This study's core purpose is to understand the behavioural intention (BI) of wine tourists using the Extended Model of Goal-directed Behaviour (EMGB). Specifically, the Model of Goal-directed Behaviour (MGB), an advanced version of the Theory of Planned Behaviour (TPB), is extended to EMGB by incorporating experience and involvement towards wine tourism to better understand wine tourists' intention to participate in a tour. The sample was 211 Korean wine tourists. Results revealed that two constructs related to wine tourism, namely, experience of a wine tour and wine tourism involvement, formed positive and significant relationships with attitude towards participating in such a tour. Attitude, subjective norm, and positive anticipated emotion influenced tourists' desire to participate in a wine tour, which, in turn, influenced their BI. Contrary to expectations, the frequency of past behaviour does not have a significant effect on desire and BI, and perceived behavioural control has no significant effects on BI.     

Optimal Sharing of Interest‐Rate Risk in Mortgage Contracts: The Effects of Potential Prepayment and Default

Much of the literature on the economics of mortgage markets has studied the fixed vs. adjustable‐rate mortgage choice made by individual borrowers. However, to decide if the outcome of such a choice is efficient or approximately so, it is necessary to explore the question of optimal risk‐sharing in mortgage contracts. But because only a small literature has studied this question, more research is clearly warranted. The present article helps fill this gap by developing a simplified version of Arvan and Brueckner's model, using it to characterize optimal contracts in the absence of mortgage termination, and then exploring how termination via prepayment or default affects optimal risk‐sharing. The broad conclusion of the analysis is that potential mortgage termination makes higher risk exposure for borrowers optimal.     

Multimarket Contact and Rivalry over Knowledge‐based Resources

Research summary: Research shows that multimarket contact (MMC ) reduces rivalry involving downstream activities. Yet, studies showing that MMC can increase the threat of imitation suggest a need to better understand how MMC affects upstream rivalry over knowledge‐based resources. In this study, we argue that MMC increases rivalry over knowledge‐based resources since the deterrent threat of retaliation that typically leads to mutual forbearance in downstream activities will not be sufficient to restrain firms from protecting their knowledge from imitation in upstream activities. In support of these arguments we find that MMC increases the likelihood that a firm initiates patent litigation against a rival. This study suggests the relationship between MMC and rivalry may depend on the competitive domain and the type of resources over which firms are competing . Managerial Summary: How does market overlap or MMC affect rivalry between two competitors? Prior studies have largely found that an increase in market overlap decreases rivalry in less knowledge‐intensive context because of the deterrent threat of retaliation. However, in this paper, we argue that an increase in market overlap may not reduce rivalry in more knowledge‐intensive context because of heterogeneity in capabilities to protect knowledge. We find that a firm is more likely to initiate patent litigation against a rival as market overlap increases. Our findings suggest that the incentive to protect value across multiple product markets may surpass the motivation to cooperate with rivals and that managers should have a more nuanced view of how market overlap with competitors affects rivalry in more knowledge‐intensive contexts . Copyright © 2017 John Wiley & Sons, Ltd.     

Relationship between HEXACO personality factors and emotional labour of service providers in the tourism industry

This study aimed to 1) explore to what extent service providers’ emotional labour is affected by personality as measured using HEXACO personality factors, 2) analyze the affect of emotional labour on the performance of required emotional display rules, and 3) investigate differences in emotional labour depending on service providers’ demographic characteristics. From a questionnaire survey of employees in different service sectors in Korea, four HEXACO personality factors, Extraversion, Agreeableness, Conscientiousness, and Openness were found to have a positive influence on emotional labour. Deep acting has a positive influence on the requirement to display positive emotions and a negative influence on the requirement to hide negative emotions. Demographic variables generally do not affect emotional labour. This study provides practical information about employees to managers in the service industry. It could help in recruitment, the management of human resources, and enhance a company’s service assessment.     

The impact of CSR on relationship quality and relationship outcomes: A perspective of service employees

Corporate social responsibility (CSR) has gained increasing attention over the past decade. While many studies examined an impact of CSR on consumers, only dearth of research is found that attempts to understand the impact of CSR on employees from the relationship marketing perspective. The purpose of this study is to investigate the role of CSR in predicting relationship quality and relationship outcomes. The four dimensions of CSR used in the study include economic, legal, ethical, and philanthropic aspects. Data were collected via survey from employees of franchised foodservice enterprises located in South Korea. The findings of the study show that not all dimensions of CSR have the same effect on relationship quality. While economic and philanthropic dimensions have a significant influence on organizational trust, only ethical dimension has a positive effect on job satisfaction. As expected, relationship quality has a significant impact on relationship outcomes.     

The managed heart: The structural analysis of the stressor–strain relationship and customer orientation among emotional labor workers in Korean hotels

This study examined the structural relationships among three different dimensions of workplace stressors (customer-related stressor, CRS; work environment-related stressor, WERS; job-related stressor, JRS), negative affectivity (NA), emotional exhaustion (EE), and the negative effect of that strain on customer orientation (CO) in the context of the emotional labor (EL) of frontline employees in the hotel industry. Data were collected from self-administrated questionnaires distributed among frontline employees in room and F&B divisions in Korean deluxe tourist hotels, where EL is intense. The results of the structural equation analysis indicated a positive association between all three workplace stressors and NA and between NA and EE. There was also a relationship in the opposite direction with EE and CO, as hypothesized. The moderating effect of organizational level on the workplace stressors–NA relationships was also confirmed. In addition, in an alternative model, we found that NA partially mediates the relationship between JRS and EE; whereas, NA fully mediates the relationships between CRS/WERS and EE. Practical implications are discussed in detail and limitations of the study and future research directions are also suggested.     

Do socially responsible activities help hotels and casinos achieve their financial goals?

While the concept of corporate social responsibility (CSR) has gained much attention and is currently practiced by many companies, it has yet to be empirically examined in the context of hotels and casinos, especially in regard to the potential effects of CSR on firm value and performance. As the findings on the relationship between CSR and financial performance have been inconclusive and this relationship has been found to differ among industries, this study examines the relationship between CSR and firm value and profitability for hotels and casinos. Results of the Durbin–Wu–Hausman (DWH) test and a subsequent two-stage least square (2SLS) method show that hotel companies’ CSR has a simultaneous and positive relationship with financial performance. For casino companies, however, results show that CSR has no simultaneous or particular effect on financial performance. Findings suggest that hotel companies can confidently and strategically increase CSR investment to enhance both short-term (profitability) and long-term performance (firm value). Casino companies need to carefully examine the effects of CSR on financial performance, when making CSR-related decisions.     

Cross-cultural comparison of the image of Guam perceived by Korean and Japanese leisure travelers: Importance–performance analysis

As international tourism becomes a global phenomenon and its volume increases rapidly, understanding cultural differences and similarities provides destination marketers in a host country with a strategic platform upon which any planning and marketing efforts should be grounded. Based on the theory of cultural value orientation, the current study focuses on a cross-cultural comparison between the two markets most important to Guam tourism: Japanese and Korean leisure travelers. Using Importance–performance analysis, the evaluative image of Guam perceived by Korean travelers is compared with that perceived by Japanese travelers to uncover any differences between these two nationality groups. The results clearly indicate a contrast between the two groups in terms of destination evaluations and behavioral patterns.     

Evolutionary Characteristics of China＇s Intermediate Manufactures

China's economic development is characterized by progressive integration with international production chains as an assembly producer. Japan and South Korea are the major partners providing intermediate products to China. The present paper analyzes the Chinese intermediate sector's present condition and evolutionary characteristics revealed in bilateral trade with Japan and South Korea. The analysis uses the framework of new trade theory represented by “intra‐industry trade”. Trade statistics from 1997 to 2004 are analyzed using the database published by the OECD. Results show that China's inter‐industrial evolution is characterized by its expanding positioning in the manner of the flying geese development paradigm of Asian countries. Furthermore, intra‐industrial evolution is characterized by a concentration on price competitiveness. The framework and results of the industrial analysis presented in this paper assist in the understanding of China's manufacturing evolution and of the policy‐making decisions taken in the process.     

中韩产业结构高度化的比较分析——以两国制造业为例

展望未来韩国产业的发展与结构变化,中国产业结构变化是必须考虑的重要因素之一。本文为了探析中国的产业结构高度化趋势与程度,根据OECD技术分类标准,以制造业为中心,对中、韩两国的产业结构进行了详尽的比较分析。研究结果表示,两国都呈现出比较明显的产业高度化态势。在制造业中,高端技术产业的比重显著增加。韩国高端技术产业比重的增长快于中国,中国在中端技术产业与低端技术产业的比重大于韩国。