Migrating to the East: a qualitative investigation of acculturation and leisure activities

This study sought to explore leisure behaviours associated with acculturation and immigration experiences among emigrants from the United States and Canada who moved to South Korea. Three main themes were identified as leisure engagement associated with acculturation: (a) embracing new leisure behaviours, (b) experiencing dynamics of interpersonal relationships and (c) improving cultural understandings. The findings of this study indicated that leisure provided an opportunity for participants to develop the ability to adapt to a new environment and gain cultural knowledge. In addition, this study indicates that as a result of leisure activities, participants explored, understood and experienced a new cultural environment that may facilitate acculturation.     

慈善乃富人自救

面对一些民众和舆情的仇富心态，怨天尤人绝对无济于事。用对抗性言辞、逃避的办法，都不可能改变民众和舆论的看法，只能使社会趋于断裂，其结果只会是玉石俱焚。唯一的正确出路，是富豪们作为一个整体，致力于行之有效的自我救赎。     

Information content of Super Bowl commercials 2001–2009

Using Resnik and Stern's (1997) method, this study examines the information content of the ads embedded in the telecasts of the largest sporting event in the United States, Super Bowl. The findings of a content analysis of over 400 Super Bowl ads aired from 2001 to 2009 show that each ad contained on an average two informational cues, which are as much informative as other television ads in the United States. The packaging or shape, quality, and performance cues are the three most frequently used informational cues. In addition, think products appeared to contain a more diverse set of informational cues compared to feel products. Practical and theoretical implications and future research directions are discussed.     

Cointegration relationships and hedonic pricing of differentiated commodities: an application to price dynamics in the US dairy sector

This study investigates the implications of hedonic pricing for price dynamics of differentiated commodities. A conceptual model of hedonic pricing is developed under a Leontief technology, showing how commodity prices reflect the underlying value of their components. Implications for the existence of cointegration relationships among commodity prices are derived. An application to the pricing and dynamics of selected US dairy commodities is presented. It provides evidence on the role of component valuation in the dynamics of dairy commodity prices in the short run as well as in the long run. Distinguishing between market regime and government regime (when the government price support is active), the analysis finds significant differences in dairy price dynamics between the two regimes.     

Comparative Statics Predictions for Changes in Uncertainty in the Portfolio and Savings Problems

The paper investigates comparative statics effects of changes in uncertainty for a general family of problems that encompasses both the portfolio and saving decisions. Conditions are derived on preferences that are necessary and sufficient for unambiguous comparative statics predictions. The paper consolidates and completes the statement of restrictions on attitudes toward risk–bearing needed for determinate predictions in the portfolio and saving problems.     

Insiders’ incentives for asymmetric disclosure and firm-specific information flows

Recent research suggests that insiders’ incentives for capturing cash flows affect price formation process in which insiders are inclined to withhold good news and to accelerate the release of bad news (Jin and Myers, 2006). We investigate whether insiders’ incentives for private control benefit, proxied by control-ownership wedge, affect firm-specific return characteristics. We find that control-ownership wedge is negatively related to the likelihood of positive return jumps and positively related to the extent of asymmetric market reaction to good news rather than to bad news. Overall, our results support the notion that corporate insiders increase opaqueness and withhold good news in order to capture unexpected cash flow.     

The failure of CAP reform: a public choice analysis1

This paper uses public choice theories to explain why agricultural subsidies were centralised and why this hinders reform. It shows that the Commission is not responsible for the expansion of the CAP by arguing that budget‐maximising behaviour is irrational in the circumstances and that bureau shaping explains its stance on reform. The input process and the success of agricultural groups vis‐à‐vis consumer and taxpayer groups is explained using both the pluralist and Olsonian account of interest group politics. The conclusion analyses the latest difficulties in achieving reform at Berlin and the prospects for reform.     

Health and well-being through T‘ai Chi: perceptions of older adults in Hong Kong

This study explored the meaning, associated values and benefits of T'ai Chi practice as perceived by older adults in Hong Kong. The relationship between practice and quality of life was also examined. Four focus groups with a total of 18 participants (three of whom have physical disabilities) were conducted. Categories and themes within the data were identified using content analysis. The findings indicated that T'ai Chi is chosen by the elderly participants for its gentle and soft movements. The benefits they describe include lifestyle issues as well as physical, psychological, and social aspects. The Hong Kong participants appeared unfamiliar with the term and concept of ‘quality of life’ but once explained, they were able to point out that their improvements in physical and mental health through the practice of T'ai Chi are related to their level of quality of life. The findings from the literature and this study support the belief that the practice of T'ai Chi has multiple benefits to practitioners that are not only physical in nature. It is recommended as a strategy to promote successful aging.     

Alternative Regulatory Cases Challenging Consumer Policy

By means of the concept of postmodern politics, we provide insights into how alternative regulation is challenging consumer policy. New actors, new forms of interaction, and new goals are emerging alongside established forms of consumer policy. In particular, we examine two alternative regulatory cases: trust marks and consumer-generated information systems. They both exemplify alternative regulation of electronic commerce, which has facilitated regulatory innovation for over a decade. On the basis of our analysis, we suggest that governmental consumer policy cannot imitate the alternative regulatory solutions. We also encourage governmental actors to consider building bridges to consumer networks. This would broaden the scope of consumer policy and be in line with the modes of operation of governmental actors. Consumers are themselves contributing to this rethinking of governmental consumer policy. By networking, consumers provide each other with empowering information on consumption. Doing so on the massive scale enabled by information and communication technologies, they are challenging conventional consumer policy, which can no longer address consumer needs as it could in the pre-Internet days. New issues are emerging for consumer policy to address, and networked consumers are already contributing to policy.     

International policy coordination for financial market stability in the Asian economies

Based on the understanding of financial crisis as the self-fulfilling crisis of speculators belief system, this paper examines the feasibility of introducing the Tobin tax system to reduce financial volatility in the Asian foreign exchange markets. The model analysis in this paper provides the following policy implications. To reduce the motivation to deviate from the policy coordination, it is required to allow all tax revenues to collecting countries, especially to Singapore and Hong Kong. Even without the participation of the major western countries, the start of the tax policy coordination in the Asian region can have significant signalling effects to reduce speculative motivation.