Effects of ideal image congruence and organizational commitment on employee intention to leave

The purpose of this study was to investigate the relationships among employee self-image/store image congruence, employee–store commitment, and employee intention to leave within the context of retail stores. Data were collected using a survey method. Usable questionnaires were completed by 276 retail store employees. Path analysis was used to test the hypotheses. Results revealed employee self-image/store image congruence was positively related to store image attractiveness. In turn, store image attractiveness was positively related to employee–store commitment both directly and indirectly through intrinsic job satisfaction. Lastly, both intrinsic job satisfaction and employee–store commitment were negatively related to employees’ intention to leave.     

The role of interactivity in e-tailing: Creating value and increasing satisfaction

The purpose of this study is to examine the relationships between three dimensions of interactivity (controllability, synchronicity, and bi-directionality) and consumers’ perceived value composed of utilitarian and hedonic values on e-shopping, finally determining the level of overall satisfaction on using interactivity features in e-tailing service. A total of 451 respondents participated and the usable sample size was 427 after the screening process. The results indicate that bi-directionality is a key interactivity feature for consumers’ hedonic value creation in e-tailing service settings while synchronicity is a key for utilitarian value.     

Full versus quasi MLE for ARMA-GARCH models with infinitely divisible innovations

We compare the backtesting performance of ARMA-GARCH models with the most common types of infinitely divisible innovations, fit with both full maximum likelihood estimation (MLE) and quasi maximum likelihood estimation (QMLE). The innovation types considered are the Gaussian, Student’s t, α-stable, classical tempered stable (CTS), normal tempered stable (NTS) and generalized hyperbolic (GH) distributions. In calm periods of decreasing volatility, MLE and QMLE produce near identical performance in forecasting value-at-risk (VaR) and conditional value-at-risk (CVaR). In more volatile periods, QMLE can actually produce superior performance for CTS, NTS and α-stable innovations. While the t-ARMA-GARCH model has the fewest number of VaR violations, rejections by the Kupeic and Berkowitz tests suggest excessively large forecasted losses. The α-stable, CTS and NTS innovations compare favourably, with the latter two also allowing for option pricing under a single market model.     

华侨网络和对华投资特点浅析

目前,对华侨还没有统一的概念,但华侨的大量存在却是不争的事实,华侨投资在中国经济发展中的作用也是非常显著的.在华侨网络形成过程中,方言曾经起着非常重要的作用,并通过血缘、地缘和业缘紧密联系在一起.华侨对华投资往往与故乡有机结合,与香港企业共同投资,并充分利用中国政府的优惠政策,又有向北京、上海等中心城市扩展的趋势.     

Location,governance, and strategic determinants of japanese manufacturing investment in the united states

A firm's decision to manufacture abroad depends on location, governance, and strategic factors. Governance factors are firm-specific. In spite of this, most empirical studies of foreign direct investment (FDI) have been conducted at the industry level (making it impossible to look at firm-specific determinants), and only a handful have considered governance, location, and strategic factors simultaneously. This paper is the first large sample study of the determinants of foreign direct investment at the product and firm-level. It examines the impact of location and governance factors, and of four types of strategic interactions, on a Japanese firm's propensity to manufacture in the U.S. The results support the view that foreign direct investment is explained by location, governance, and strategic variables. Economies of scale and trade barriers encourage Japanese FDI in the U.S. The larger a Japanese firm's R & D expenditures, the greater the probability it will manufacture in the U.S., but this is not the case for advertising expenditures. Some strategic factors are also important: Japanese firms with medium domestic market shares have the highest propensity to invest in the U.S. There is evidence of follow-the-leader behavior between firms of rival enterprise groups, but none of ‘exchange-of-threat’ between American and Japanese firms. Japanese investors are also attracted by concentrated and high-growth U.S. industries.     

The Resource Dependence, Service and Control Functions of Boards of Directors in Hong Kong and Taiwanese Firms

Since the Asian financial crisis of the late 1990's, there have been numerous calls for the reform of East Asian corporate governance. Without reform, fears abound that the crisis will return. However, a baseline understanding of corporate governance in East Asia needs to be established before reform efforts can begin. In the West, three major functions of boards are commonly recognized: resource dependence, service, and control. These functions have yet to be examined in the context of boards of directors of Overseas Chinese firms in East Asia. In this exploratory study, we examine the extent to which these functions are performed, primarily by outside board members, in Overseas Chinese firms in Hong Kong and Taiwan. We find that the service and control functions are less pronounced for East Asian boards than what would be expected in the West, while the resource dependence function is more pronounced. We also findthat the governance of the region is being moved closer to international practices by a new generation of leaders that have been exposed to Western influences and intense global competition. The implications of our findings for managers, educators, and researchers are discussed.     

Risk management of real estate: The case of real estate swaps

Real estate swaps are a recent financial innovation based upon the principle of comparative advantage. A real estate swap is a useful tool for real estate risk management and for participating in real estate investment without the high costs associated with real estate. Potential economic benefits and costs associated with real estate swaps are considered and real estate swaps are compared to alternative tools for real estate risk management. The expected utility and effectiveness of risk management with a swap in a multiperiod framework are analyzed. The analysis finds that the subject property's return and its risk characteristics (as reflected in its correlation with interest rate and property index returns) delimit the risk management potential of a given swap position. Optimal swap positions are shown for various regions and property types based on historical return series, from the period between 1983 and 1992, and the parameters of the dynamic model developed.     

基于东北亚经济合作的战略伙伴关系

文章在分析了东北亚经济合作的必要性的基础上,探讨了作为主要经济合作手段 的东北亚各国产学研机构间的战略伙伴关系,并提出了发展东北亚经济共同体的具体模式。