The role of organizational culture,capabilities, and adoption of e-marketing on nonprofits' organizational performance

Nonprofit organizations are facing increasing challenges to survival and mission accomplishment in a market economy. Thus, many nonprofit organizations are actively exploring how to enhance organizational performance through Internet and communication technologies in the digital era. The relationship between e-marketing adoption and organizational performance of for-profit companies has been studied intensively. However, this relationship has not been examined in the nonprofit context. The objectives of this study are to investigate factors promoting the adoption of e-marketing and the latter's effect on the performance of nonprofits. This paper surveyed 54 nonprofits and used partial least squares structural equation modeling (PLS-SEM) to test the research hypotheses grounded in resource dependence theory and e-marketing orientation. Results indicated that top management's attitudinal emphasis on e-marketing does not lead to e-marketing adoption. Differs from for-profit companies, nonprofits' e-marketing adoption is mainly related to planning and implementation capabilities. Moreover, although planning strongly influences e-marketing adoption, implementation capabilities play a crucial role in a performance-driven adoption. Hence, if e-marketing is adopted without sufficient manpower and skills, organizational performance will not be enhanced even with adequate e-marketing budget.     

State dependence,individual heterogeneity,and the choice of employment status: evidence from Korea

Focusing on the individual heterogeneity, this article examines the causes of an individual’s employment status choice and the extent of state dependence in the Korean labour market. We estimate a dynamic multinomial logit model using the panel data drawn from the first to fifteenth wave of the Korean Labour and Income Panel Study. The results suggest the presence of state dependence. Individual characteristics and growth background have a significant effect on the choice of employment status. Gender is still an important employment factor; males are more likely to be employed and this gender effect is highest for regular employment (RE). One’s educational attainment and age operate in opposite directions. That is, educational attainment (age) has a positive (negative) impact on the choice of a regular job and a negative (positive) impact on the choice of a non-regular job. Contrary to our expectations, a wealthy family background reduces the probability of individuals being wage workers, and raises the probability of them being unemployed. The barriers to RE are greater than for non-regular employment. These findings are of great importance for designing policies to effectively address unemployment and labour informality problems in Korea.     

Passive blockholders,informational efficiency of prices,and firm value

This paper analyzes the role of passive blockholders in corporate governance using data on Schedule 13G filings. We show that firm value increases with the number and aggregate ownership of passive blockholders after controlling for other possible determinants of firm value. More importantly, we show that the informational efficiency of prices (IEP) increases with the number and aggregate ownership of passive blockholders, and IEP is a channel through which passive blockholders affect firm value. Overall, our results suggest that managers perform better when stock prices reflect the economic consequences of their actions promptly and accurately through information‐based trading of blockholders.     

Differential effects of patriotism and support on post-development visit intention: the Korean DMZ Peace Park

This study investigates how resident support for the development of the demilitarized zone (DMZ) Peace Park incorporates two key components (support and patriotism) as part of the theory of planned behavior (TPB). The results of this study confirm that support is important because it is directly associated with three TPB constructs, and it acts as a mediator between patriotism and the three TPB constructs. Both support and patriotism are statistically significant but different depending on the distance to the DMZ Peace Park. Resident support in the predevelopment stage can possibly extend to behavioral support in the post-development stage.     

The impacts of public news announcements on intraday implied volatility dynamics

We examine the responses of intraday option-implied volatilities to scheduled announcements of macroeconomic indicators. The increase in implied volatility around macroeconomic news announcements is more pronounced for puts than for calls and is stronger for announcements made during trading hours than for those made during nontrading hours. These effects are also more pronounced in the crisis and postcrisis periods than in the precrisis period. Monetary policy announcements have a more substantial impact on volatility than other announcements have, even after controlling for news surprise components. The impact appears to be greater for policy rate hikes than for policy rate cuts.     

Key Antecedents and Outcomes of Korean Workers’ Perceived Labor-Management Relations

Labor-management relations have received increasing attention and are believed as important by academics and practitioners. This article examines the key antecedents and outcomes of Korean unionized workers’ perceived labor-management relations. Given the impact on employee performance and corporate productivity, it has not yet been known the extent of dynamics regarding the workers’ perceptions of the labor-management relations. The study employs the structural equation modeling using partial least squares(PLS) technique. The empirical results from 2,632 workers confirm that all hypothesized relationships are significant except the corporate training satisfaction in relation to labor relations. All outcomes of labor relations are significant. This research offers new insights into the important concept of labor-management relations specifically in Korea. Implications and future research are provided.     

Asymmetric effects of corporate sustainability strategy on value creation among global automotive firms: A dynamic panel quantile regression approach

This study explores the asymmetric effects of corporate sustainability strategy on firm value at different conditioning quantiles by performing a dynamic panel quantile regression analysis on global automotive firms from 2011 to 2017. Further, this study measures the distinct effects of positive and negative corporate sustainability strategies on firm value, which has remained unconsidered as yet. The findings suggest that low-value and midvalue firms respond more strongly to positive and negative corporate sustainability strategies than high-value firms. This implies that for low-value and midvalue corporations that are in a growth phase, an investment in positive corporate sustainability strategies is essential to increase firm value by enhancing public perception of their efforts. Therefore, positive corporate sustainability strategy contributes substantially to future growth. Conversely, positive corporate sustainability strategy may not be a priority in increasing firm value for high-value corporations, because these strategies do not enhance the public's discernment of their efforts in ethics management and hence do not contribute to a future increase in value. Meanwhile, engagement in negative corporate sustainability strategy worsens firm value in all quantiles, although the effect is somewhat weaker for high-value firms. Nevertheless, however high valued and well established a firm is, it is not immune to crisis.     

The Taming of Machiavellians: Differentiated Transformational Leadership Effects on Machiavellians’ Organizational Commitment and Citizenship Behavior

Journal of Business Ethics - This study seeks effective ways for managing employees with a high Machiavellian personality in organizations by identifying how to enhance their pro-organizational...     

What Drives Target Price Forecasts and Their Investment Value?

This paper examines the informativeness of analysts’ target price forecasts by relating the investment value of target prices to their primary drivers. Decomposing target price forecasts into near‐term earnings forecasts and price‐to‐earnings ratio forecasts, we show that target price revisions reflect information from both components. In addition, we also find that the relative importance of each component in target price revisions is related to firm characteristics. A portfolio based on target price implied expected returns delivers significant abnormal returns. More importantly, we find that the abnormal returns are associated with both earnings and price‐to‐earnings forecasts, which suggests that the informativeness of target price forecasts comes not only from analysts’ ability to forecast short‐term earnings but also from their ability to assess risk and long‐term growth prospect implied in price‐to‐earnings forecasts.