Financial constraints on export market exit of domestic firms versus foreign multinational corporation subsidiaries in South Korea

Using a Korean manufacturing firm-level data set covering a range of years from 2006 to 2013, this study investigates how the financial condition of firms, such as liquidity, leverage, and cash flow ratio, affects exit from export markets. It also analyses whether the financial status of foreign multinational corporation (MNC) subsidiaries differs from that of domestic firms with respect to the hazard of export market exit, especially during a global financial crisis. The empirical results confirm that, for domestic firms, the hazard of export market exit is affected by the firms’ financial condition only during a financial crisis. In other words, the financial vulnerability of domestic firms increases during the crisis, resulting in the hazard of export market exit. However, financial situations for foreign MNC subsidiaries do not affect exits from export markets, indicating a ‘finance-factor comparative advantage’.     

Are social entrepreneurs more risk-averse?

We have a conventional wisdom that risk-seeking behaviours are related to commercially oriented entrepreneurs. For this reason, most studies have focused on the context of commercial entrepreneurship, and thus we do not know the risk propensity of social entrepreneurs. Using the PSM method, contrary to our wisdom, we find that social entrepreneurs tend to more have about 15% risk-seeking propensity than commercial entrepreneurs.     

Entry dynamics of self-employment in South Korea

The purpose of this paper is to clarify whether the entry into self-employment was an inevitable move due to economic recession (push hypothesis) or a voluntary move due to entrepreneurship (pull hypothesis) in Korea. It also examines how this decision is affected by changes in socio-economic conditions. The empirical analysis in this study exploited the matched sample for the adjacent months in the Economically Active Population Survey (EAPS) conducted by Korea National Statistical Office in 2000–2004. The empirical results showed that the push aspect of self-employment was strong in Korea over the whole sampled periods. The entry into self-employment in South Korea is largely attributable to economic sluggishness and an increase in unemployment rather than a voluntary transition resulting from entrepreneurship. Policy environment (such as providing information and financial support for new start-ups after the Asian financial crisis), which is a country-specific factor magnified the pushed effects. For the pushed (unprepared) self-employed people, not only is there a need to expand the coverage of vocational training programmes, but also it is vital that social safety nets are strengthened and supplemented.     

The Business Case for Gender Diversity: Examining the Role of Human Resource Management Investments

Integrating opposing theoretical perspectives from the past literature, the authors hypothesize and test a U‐shaped curvilinear relationship between gender diversity and workforce productivity. They further propose that the curvilinear effects vary depending on the levels of an organization's human resource management (HRM) investments in pay, benefit, training, and communication; that is, the patterns are more salient when HRM investments are high rather than low. To enhance understanding of how HRM investments have impact on diverse employees, the authors also examine the moderating influence of organizational identification of diverse members that can exert proximal influence on the diversity‐productivity relationship. As predicted, results reveal that high levels of HRM investments influence the gender diversity–workforce productivity association to form a U‐shaped curvilinear relationship. Organizational identification also yields the same moderating patterns. Research and practical implications are discussed. © 2015 Wiley Periodicals, Inc.     

The Relationships of On-Site Film-Tourism Experiences,Satisfaction, and Behavioral Intentions: The Case of Asian Audience's Responses to a Korean Historical TV Drama

Despite the growing interest in film-tourism research, little research has explored the extent to which on-site film-tourism experiences influence tourist satisfaction and post-visit behavioral intentions. Within the context of Asian audience's responses to a Korean historical TV drama, Daejanggeum, this article adopted a structured quantitative survey instrument. Exploratory factor analysis identified three salient dimensions to represent the on-site film-tourism experiences: Novelty and Prestige, Beyond Screen Experience and Re-enactment, and Intimacy and Memory. The on-site film-tourism experiences had a significant influence on satisfaction, re-visit intention, and intention to recommend. Novelty and Prestige had the strongest direct effect on satisfaction and intention to recommend, whereas Intimacy and Memory was the main vehicle to influence film tourists' re-visit intention.     

Pygmalion leadership: Theory and application to the hotel industry

ABSTRACT

This research investigates the role of Pygmalion leadership and the influences of employees’ trust in a leader, trust in an organization, and job engagement on task performance in the hotel industry. Through examining Pygmalion leadership, trust, and engagement in the literature, this research establishes and tests a model to identify the interrelation among four dimensions of Pygmalion leadership (e.g., climate, output, input, and feedback), trust in a leader, trust in an organization, job engagement, and task performance. Using data collected from hotel employees, this study finds that climate, output, and feedback are critical for nurturing two dimensions of trust that enhance job engagement and task performance.     

Visitor Motivational Factors and Level of Satisfaction in Wellness Tourism: Comparison Between First-Time Visitors and Repeat Visitors

This study aims to examine the differences between visitor motivations and satisfaction between first-time visitors and return visitors to a recreation wellness tourist attraction site in South Korea. Data were collected using a questionnaire at a national arboretum and 573 samples were used for analysis. The study discovered that first-time visitor motivations were composed of four factors: “relaxation and rest”, “novelty”, “self-exploration”, and “accessibility”. The return visitor motivations were “sightseeing and experience”, “convenience for touring”, “self-exploration”, and “accessibility”. The desired outcomes motivating the visitation and level of satisfaction were different between first-time and return visitors. The results contribute practical information to managers and marketers not only of the arboretum, but also of wellness tourist attractions to improve strategic visitor management in Korea and beyond. The study strategically applies the arboretum as a competitive resource in a wellness tourism industry with strategic segmentation of visitors.     

Switching intention model development: Role of service performances,customer satisfaction,and switching barriers in the hotel industry

The intricate relationships among core service and service encounter performances, customer satisfaction, and switching barriers in the formation of satisfaction and switching intention were examined in this study. A field survey was conducted at upper-midscale hotels. The results of the structural analysis revealed that both core service and service encounter performances significantly affected customer satisfaction, and satisfaction completely mediated the effects of service performances on switching intention. In addition, findings from the tests for metric invariances indicated that components of switching barriers (switching costs, relational investment, and lack of alternatives’ attractiveness) moderated the relationships between satisfaction and switching intention. In particular, the role of satisfaction derived from service performances in decreasing hotel guests’ intention to switch is greater when they perceive high switching costs, relational investment, and lack of alternatives’ attractiveness. Based on study findings, theoretical and practical implications are identified and discussed.     

The relationships among overall quick-casual restaurant image,perceived value,customer satisfaction,and behavioral intentions

The purpose of this research is to explain the relationships among overall quick-casual restaurant image, perceived value, customer satisfaction, and behavioral intentions in the quick-casual restaurant industry. The findings indicate that overall quick-casual restaurant image significantly influences perceived value, and overall quick-casual restaurant image and perceived value had a significant role in influencing customer satisfaction. Additionally, overall quick-casual restaurant image, perceived value, and customer satisfaction are significant predictors of customers’ behavioral intentions. Finally, customer satisfaction can act as a partial mediator in the relationship between overall quick-casual restaurant image/perceived value and behavioral intentions. Furthermore, we discuss the theoretical and managerial implications of the findings and future research ideas.     

Promoting Tourism,Projecting Power: The Role of Television Commercials

This paper analyzes television commercials (TVCs) launched by Korea Tourism Organization (KTO) from 1999 to 2012. By repeating shots of traditional and Korean popular (k-pop) culture, high-tech machinery, and sportsmanship, it is fair to say that Korean tourism TVCs both reflected and fueled the fad a target audience has for Korea. Hence the commercials not only promoted tourism, they were also projecting national power in general and cultural power in particular. It is surmised that through power projection the TVCs intend to create a country halo effect so that the country’s products and services may enjoy an aspired added value.