Financial development,control of corruption and income inequality

This paper examines the effect of financial development and control of corruption on income inequality in 21 Sub-Saharan African (SSA) countries over the period 1985–2011 using the pooled mean group (PMG) estimator. The empirical results show that financial development measures have positive impact on income inequality, which suggest that financial development increases income inequality. On the other hand, the coefficients of control of corruption are negative and significantly related to income inequality which implies that corruption control reduces income inequality. Further, the interaction of the financial development and the control of corruption is found to be negatively and significantly related to income inequality. Equally the interaction of the financial development and transparency index (an alternate measure of corruptibility) is found to be negatively and significantly related to income inequality. These findings suggest that the control of corruption and transparency in governance are crucial in reducing income inequality in SSA.     

Audit committee accounting expertise,expectations management,and nonnegative earnings surprises

We investigate whether accounting expertise on audit committees curtails expectations management to avoid negative earnings surprises. Controlling for the endogenous choice of an accounting expert, we find that firms with an accounting expert serving on the audit committee exhibit: (1) less expectations management to avoid negative earnings surprises; (2) less nonnegative earnings surprises through expectations management; and (3) more nonnegative earnings surprises that are less susceptible to manipulations of both realized earnings and earnings expectations. We find, however, that the inclusion of an accounting expert on the audit committee curtails expectations management only in the interim quarters. While Brown and Pinello (2007) find a greater magnitude of downward revisions in analysts’ forecasts in the fourth quarter, they also document a lower incidence of nonnegative earnings surprises. Together, this suggests that with an accounting expert, audit committees likely view the fourth quarter downward revisions as driven more by guidance than by manipulation, thus focusing on curbing only expectations management in interim quarters.     

Agile manufacturing: Relation to JIT, operational performance and firm performance

A structural model incorporating agile manufacturing as the focal construct is theorized and tested. The model includes the primary components of JIT (JIT-purchasing and JIT-production) as antecedents and operational performance and firm performance as consequences to agile manufacturing. Using data collected from production and operations managers working for large U.S. manufacturers, the model is assessed following a structural equation modeling methodology. The results indicate that JIT-purchasing has a direct positive relationship with agile manufacturing while the positive relationship between JIT-production and agile manufacturing is mediated by JIT-purchasing. The results also indicate that agile manufacturing has a direct positive relationship with the operational performance of the firm, that the operational performance of the firm has a direct positive relationship with the marketing performance of the firm, and that the positive relationship between the operational performance of the firm and the financial performance of the firm is mediated by the marketing performance of the firm.     

Natural Resource Booms and Inequality: Theory and Evidence*

We develop a theory, in the context of a two‐sector growth model in which learning‐by‐doing drives growth, to explain the time path of income inequality following natural resource booms in resource‐rich countries. Under the condition of a relatively unskilled labor intensive non‐traded sector, inequality falls immediately after a boom, and then increases steadily over time until the initial impact of the boom disappears. Using data for 90 countries between 1965 and 1999, we find evidence in support of the theory, especially for oil and mineral booms. We also find that uncertainty about future commodity prices increases long‐run inequality.     

Toward an Improved Definition of Poverty

This paper is motivated by the observation that the type and the combination of assets are associated with the likelihood of poor households' experience of shock. Focusing on the case of adivasi households in the south Indian state of Kerala, we find that the type, number and combinations of specific assets (primarily social and physical capital) yield varied magnitudes of association with households' experience of shock, which is a measure of vulnerability. Thus, going beyond mere welfare considerations, social policies that prioritise and sequence the type and combination of asset building based on contextual factors help minimise the incidence of shocks and improve livelihood choices.     

The Effects of Korean Pop Culture on Hong Kong Residents' Perceptions of Korea as a Potential Tourist Destination

The goal of this study is to assess the influences that Korean pop culture has on Hong Kong residents' perceptions of Korea as a potential tourist destination. Among the 500 distributed questionnaires, 456 were collected. Finally, 440 usable surveys were used for data analysis after eliminating 16 questionnaires with multiple missing answers that were deemed unusable. Data analyses produced many meaningful results. For example, respondents who were less educated and tended to spend more on Korean cultural products had a higher intention to visit Korea after they tasted Korean food. Expenditures on Korean cultural products were a significant contributor to Hong Kong residents' intention to visit Korea after experiencing the three types of Korean pop culture used in this study. Results of this study confirm those of previous studies, which found that the media had a significant influence on a person's choice of tourist destination.     

The Influence of a TV Drama on Visitors’ Perception: A Cross-Cultural Study

The goal of this study is to assess the effects the Korean food featured on the Korean TV drama series Daeganggeum has on the perceptions of national image and intention to visit Korea by residents of Hong Kong, Taiwan, and Thailand. Estimates of structural equation models are used for samples from the three countries to produce information for comparing relationships between variables: on preferring Korean food, the national image of Korea, and the intention to visit Korea for food tourism. The results show similarities and differences between the three national groups. Virtually identical models are found for Hong Kong and Taiwan groups. However, the comparison of Hong Kong and Taiwan groups to the Thailand group demonstrate differences. Specifically, in the Thai sample, distinctiveness of Korean food culture significantly increases the intention to visit Korea for food tourism. All three national groups demonstrate that a strong relationship exists between the national image of Korea and the intention to visit Korea for food tourism.     

Segmenting Overseas Golf Tourists by the Concept of Specialization

A main goal of this study was to use the concept of specialization to segment and better understand Korean overseas golf holiday tourists' demographics, motivations, overseas golf tourism destination attributes, and preference for overseas golf tourism destination attributes. A total of 424 questionnaires were collected and 370 questionnaires were used for further statistical analysis. According to results of data analyses, the advanced segment was more likely to be motivated by the quality of overseas golf resorts and other benefits (such as business opportunities), compared to the beginner and intermediate segments. The beginner group was more likely to be a company employee or housewife who earn the least at between US$35,000–US$50,000 per annum, travel on full package tours, use information from family or relatives, and have a stronger preference for the Philippines or China as golf destinations. The study's results showed potential benefits using the concept of specialization in a sport tourism setting even though the concept has been popularly applied in the outdoor setting.     

From filthy to healthy and beyond: finding the boundaries of taboo destruction in sex toy buying

ABSTRACT

The liberalisation of Western society has led to the destruction of certain taboos, but on the individual level, taboo destruction may be curtailed by opposing conventions. This study investigates the boundaries of taboo destruction in relation to buying products that were once considered as taboo but are increasingly subject to liberalisation, namely, sex toys. Adopting an exploratory mixed-method approach, which combines a consumer survey with expert interviews, this study establishes a framework suggesting that self-protection and status maintenance are the core forces behind individual-level taboo construction. Additionally, consumers may voluntarily construct taboos regarding sex toys as the controlled violation of a taboo is associated with sexual excitement. Implications about how the results diverge from societal taboo destruction, on which sex toy retailing is currently built, are discussed.