Chinese dietary culture influences consumers' intention to use imported soy‐based dietary supplements: an application of the theory of planned behaviour

The over‐saturated dietary supplement (DS) market in developed countries such as the US spurs the need for foreign market expansion, and the Chinese market provides a great potential for the foreign soy‐based DS industry. This study examined Chinese consumers' intention to use imported (US‐made US‐brand) soy‐based DS based on the Theory of Planned Behavior (TPB). Two alternative models were also examined in which Chinese dietary culture variables, including soyfoods favourability and dining‐out sociability, as well as their interactions with attitudes, were integrated into the TPB model. A cross‐sectional, self‐administered survey was conducted with a sample of 215 subjects (137 females; 78 males) in Shanghai, China. The TPB variables attitude, subjective norm, perceived behaviour control and behavioural intention, as well as the Chinese dietary culture variables: soyfoods favourability and dine‐out sociability were measured. Multiple linear regressions were used to analyze the three models. The statistical results indicated that all three models were statistically significant to predict intention (Model 1: R² = 0.473, P < 0.001; Model 2: R² = 0.505, P < 0.001; Model 3: R² = 0.525, P < 0.001). The results also showed that attitude, perceived behavioural control, and dine‐out sociability were significant (positive) determinants of intention. Soyfoods favourability acted a significant (negative) moderator of the relationship between attitude and intention. Subjective norm had no significant impact on intention. In conclusion, the TPB model was useful to predict Chinese consumers' intention to use imported soy‐based DS, but not all the TPB components weighed significantly in exploring DS consumption in China. The selected Chinese dietary culture variables were much more important predictors than subjective norm. This study makes a significant contribution in the application of the TPB model and in market strategy development for imported dietary supplements in China.     

Clothing as an environment for older adults' successful ageing

This research tested a conceptual model for proximity of clothing to self (PCS) in relation to age identity, self‐actualization, psychological well‐being, self‐assessed health, sex and chronological age among older adults, aged 65 and over, within the human ecological perspective. A mail survey was sent to a national random sample of 1700 older adults in the US resulting in 195 usable respondents in the final sample. The respondents returned two completed questionnaires, which were (1) Clothing: A Resource for Successful Aging? (to measure PCS, age identity and demographic variables) and (2) Personal Orientation Inventory (to measure self‐actualization). The results indicated that older adults' psychological well‐being, one component of successful ageing, was directly affected by their self‐assessed health, age identity and self‐actualization. PCS indirectly influenced individuals' psychological well‐being in a slightly negative way in later life. In sum, clothing may be used as a needs satisfier for different levels of needs or related more closely with needs in addition to self‐actualization needs for older adults. Further research should be conducted to explore relationships among PCS, different levels of human needs, clothing‐related variables and psychological well‐being for this age group. In practice, the effort should be given to teach the use of clothing (or other human‐built objects) as a tool or need satisfier to contribute to success in a person's later life by offering some educational or training programmes through local senior community centres or universities.     

Testing the bounds: Empirical behavior of target zone fundamentals

Standard target zone exchange rate models are based on nonlinear functions of unobserved economic fundamentals, which are assumed to be bounded, similarly to the target zone exchange rates themselves. Using a novel estimation and testing strategy, I show how this key but often overlooked assumption may be tested. Empirical results cast doubt on its validity in practice, providing a reason for well-documented empirical difficulties of these models in the literature.     

DOES SIZE MATTER? THE INFLUENCE OF FIRM SIZE ON WORKING CONDITIONS,JOB SATISFACTION AND QUIT INTENTIONS

Using a detailed survey on Spanish workers, this paper investigates the relationship between firm size and working conditions, the extent to which firm size differences in workers' job satisfaction can be accounted for by differences in their work environment and the impact of firm size on workers' quit intentions. The results indicate that: (1) employees in larger firms face a worse work environment; (2) working in large firms significantly reduces job satisfaction when no controls for working conditions are included, but taking them into account makes differentials across size categories statistically insignificant; and (3) no systematic differences exist in intentions to quit across firm size categories, irrespective of conditioning on wages.     

The Impact of Relational Capital on the Success of New Business Start‐Ups

This study seeks to highlight the key role played by relational capital in new business start‐ups. Following a review of previous research examining the success factors of new ventures and the role played by intellectual capital, our study sets out to achieve this objective by analyzing the impact of a set of intangible relational assets on the initial success of new business start‐ups. Based on a study of 130 firms, we analyzed six hypotheses regarding the possible positive relationship between the relational capital of a start‐up company and its success in its first few years of business.     

Intellectual Capital and Uncertainty of Knowledge: Control by Design of the Management System

This research, couched in the resource-based view of the firm, investigates the potential for reducing an organization’s decision uncertainty within its intellectual capital (IC) operating environment. Using structural equation modeling, we empirically test if organizational design can reduce the perceived uncertainty related to an IC context, which we refer to as knowledge uncertainty. We found evidence that decentralization and technology infrastructure support a results-based IC management control system which in turn is associated with reduced internal decision uncertainty. Finally, our statistics support a good overall fit for our model. Our findings suggest that if managers structure their organizational control systems appropriately for developing IC capabilities, these systems can lead to reduced internal uncertainty regarding human, structural, and relational capital.     

Informal barriers and agricultural trade: does monetary integration matter?

EU enlargement and the recent sovereign‐debt crisis of Euro zone countries have revived the debate around the (European Monetary Union) EMU. In this article we ask how informal barriers to agricultural and food trade have changed since the introduction of the common European currency, and whether this evolution can be attributed to monetary integration. We focus on the foreign trade of the 11 EMU founder countries over a nine‐year period covering the creation of the EMU and find a diminishing marginal trade impact of both information and institutional barriers. We find a lower level of trade barriers, but cannot attribute this outcome to the introduction to the Euro.     

Production risk,risk aversion and the determination of risk attitudes among Spanish rice producers

Agricultural production is subject to risk and the attitudes of producers toward risk will influence input choices insofar as these affect production risk. Risk attitudes in turn may be affected by certain socioeconomic characteristics of producers. Using 2004 survey data from a cross‐section of 130 Spanish rice farms, we estimate risk‐aversion coefficients of farmers and investigate the influence of a series of socioeconomic variables on their risk attitudes. Our results show that farmers exhibit risk‐averse behavior and that risk attitudes are related to a series of socioeconomic characteristics. In particular, the belief that the farm will continue after the producer retires is found to increase the degree of risk aversion, while age is found to have nonlinear effects on risk aversion. Off‐farm income, especially from nonagricultural activities, is found to reduce risk aversion. Neither the educational level of the producer nor the presence of dependents on the household is found to have an effect on risk preferences. Regarding the production technology, we find that land, labor, and fitosanitary products are risk‐reducing inputs, whereas capital, seeds, and fertilizer all increase risk.     

Nursing home choice,family bargaining,and optimal policy in a Hotelling economy

We develop a model of family bargaining to study the impact of the distribution of bargaining power within the family on the choice of nursing homes by families, and on the locations and prices chosen by nursing homes in a Hotelling economy. In the baseline (static) model, where the dependent parent cares only about the location of the nursing home, the markup of nursing homes is increasing in the bargaining power of the dependent parent, and nursing homes are located at the extreme periphery. We compare the laissez‐faire with the social optimum (which involves more central locations of nursing homes), and examine its decentralization in first‐best and second‐best settings. We explore the robustness of our results to introducing a bequest motive in a dynamic overlapping generations model, which allows us to study the joint dynamics of wealth accumulation and nursing home prices. If the bequest motive is strong, the markup is decreasing in the bargaining power of the dependent. However, wealth accumulation, by reducing interest rates, raises markup rates and nursing homes prices.