Forecasting volatility of futures market: the S&P 500 and FTSE 100 futures using high frequency returns and implied volatility

We show that historical volatility from high frequency returns outperforms implied volatility when standardized returns by historical volatility tends to be normally distributed. For the FTSE 100 futures, we find that historical volatility using high frequency returns outperforms implied volatility in forecasting future volatility. However, we find that implied volatility outperforms historical volatility in forecasting future volatility for the S&P 500 futures. The results also indicate that historical volatility using high frequency returns could be an unbiased forecast for the FTSE 100 futures.     

Best new product development and management practices in the Korean high-tech industry

This paper investigates critical factors affecting the likelihood of new product success and effective new product development (NPD) models for Korean high-tech firms. Empirical results suggest that successful projects differ from unsuccessful projects in project environment, skills and resources, project leadership, strategic fit, efficient NPD process, and effective product-positioning strategies.This study confirmed that efficient and effective new product development and management were important determinants of high-tech firms' competitive advantage. Furthermore, the findings of this study raised questions about some commonly held beliefs when compared with Western studies focusing on high-tech industries.     

Work pressure and burnout effects on emergency room operations: a system dynamics simulation approach

Service Business - This study develops a simulation model that can describe the accurate working environment of emergency room by analyzing the effects of both work pressure and burnout. For this...     

Valuing Fisheries Depreciation in Natural Resource Accounting: The Pelagic Fisheries in Northeast Peninsular Malaysia

In this paper, an approach based onthe net present value method is used to account forthe changes in the value of fisheries resources. Changes in the value of fisheries resources can occurbetween successive years' catch as well as betweencurrent and optimal levels of catch. These changesneed to be accounted for in the national accountingsystem to reflect the `true' net national income thatis sustainable. The approach outlined in this paper isdesirable as it allows the estimation of thedepreciation value of fisheries resource with limitedbiological information. The application of theapproach to the pelagic fisheries in NortheastPeninsular Malaysia (NEPM) showed that the resourcedepreciated in value over most years from 1982 to1993. These depreciations correspond to increasedfishing effort. In addition, pelagic catches in NEPMfrom 1982 to 1993 were lower than the optimal levelsof catch due to overfishing. Thus policies aimed atreducing fishing effort can provide improvement inboth the potentially higher capital values of thefishery resource and the earning potentials of thefishing industry in NEPM.     

Factors influencing the user acceptance of digital home services

Digital home services provide multimedia entertainment, communication, and healthcare services to the public in order to make their lives more convenient. Many articles predict that the digital home service market will be huge and that many will take advantage of this situation. The purpose of this paper is to identify the future market for digital home services in South Korea by exploring the existing critical information and literature. This study proposes a conceptual model for assessing the adoption of digital home services, for which survey data from 600 heads of households in Korea were collected and used to test the proposed model. This paper also examines customer characteristics and their relationship with the acceptance of digital home services. First, the findings indicate that infra-service is mainly determined by age, region, job, family type, house type, and attitude towards adoption of new products. Second, home entertainment service is also significantly affected by gender, age, region, family type, family member, house type, and attitude towards adoption of new products. Third, home healthcare service was positively affected by gender, region, job, and usage period of high-speed internet. This study may provide companies with valuable guidelines for the implementation of digital home services.     

Human Resource Approaches to Retirement: Gatekeeping,Improvising, Orchestrating,and Partnering

This qualitative study examines the patterns in human resource (HR) approaches to retirement across 24 organizations to explore innovative practices as well as gain understanding of the differences in how firms are dealing with major changes surrounding retirement and workforce demographics. Using organizational adaptation theory and carrying out a thorough analysis of in‐depth interviews with HR managers, we identify three dimensions that differentiate organizations’ approaches to retirement: (1) actions and interactions of key stakeholders in the retirement process; (2) HR information gathering focus regarding workforce issues; and (3) HR posture around changes needed in retirement policies and practices. Based on organizational profiles on these dimensions, four distinct approaches to retirement emerge and are described in some detail: gatekeeping, improvising, orchestrating, and partnering. These different approaches also provide insight into how organizations differ in their adaptation to change. © 2016 Wiley Periodicals, Inc.