Heterogeneity of deal proneness: Value-mining,price-mining,and encounters

This study uncovers the heterogeneity of deal proneness in relation to the cost of deal shopping (e.g., time and effort) and shopping capital (i.e., skills and expertise in shopping). The possession of shopping capital determines the cost of deal shopping and how consumers take advantage of deals. Findings of in-depth interviews include: (1) different types of deal shopping—value-mining, price-mining, and encounters, (2) strategies of deal-prone consumers with a high level of shopping capital—creating shortcuts, prospective thinking, and engineering deals, and (3) the sources of deal gratification that result from different goals of deal-prone behaviors.     

STANDARDIZATION IN THE WIRELESS INTERNET MARKET: LESSONS FROM JAPAN AND KOREA

The wireless Internet market has been growing rapidly since NTT DoCoMo first introduced the service in 1999. This paper provides a framework within which the wireless Internet market can be analysed so as to draw valuable policy implications. We show that if platforms are standardized: (i) social welfare is increased with the rational expectation of larger installed bases; (ii) the neutrality of a revenue‐sharing ratio that is valid for non‐standardized network platforms is affected; and (iii) the collusive interconnection charge is lower than the social optimum insofar as the population mass of content providers is less dense than that of Internet users.     

Travel agency employees' career commitment and turnover intention during the recent global economic crisis

One hundred and eighty-four travel agency employees in South Korea participated in this study to examine (1) the effect of career commitment (CC) on employee turnover and (2) the moderating effect of job insecurity on the relationship between CC and turnover intention. This study was conducted during the recent global economic crisis and found that the participants of this study had a tendency to stay in their organization even though they felt insecure at work while having high CC. Managerial implications on career development and commitment of travel agency employees were discussed on the basis of the results of this study.     

LONG‐RUN RISKS IN THE TERM STRUCTURE OF INTEREST RATES: ESTIMATION

This paper estimates a model in which persistent fluctuations in expected consumption growth, expected inflation, and their time‐varying volatility determine asset price variation. The model features Epstein–Zin recursive preferences, which determine the market price of macro risk factors. Analysis of the US nominal term structure data from 1953 to 2006 shows that agents dislike high uncertainty and demand compensation for volatility risks. Also, the time variation of the term premium is driven by the compensation for inflation volatility risk, which is distinct from consumption volatility risk. The central role of inflation volatility risk in explaining the time‐varying term premium is consistent with other empirical evidence including survey data. In contrast, the existing long‐run risks literature emphasizes consumption volatility risk and ignores inflation‐specific time‐varying volatility. The estimation results of this paper suggest that inflation‐specific volatility risk is essential for fitting the time series of the US nominal term structure data. Copyright © 2012 John Wiley & Sons, Ltd.     

Market liberalization and foreign equity portfolio selection in Korea

This study reports that before and after the complete opening of the Korean stock market, foreign equity portfolio selections deviate not only from the market portfolio but also from the portfolio held by domestic institutions. The divergence between foreign investors and domestic institutions is a finding different from that of a previous study on the Swedish market. This study also presents evidence consistent with the view that in the post-crisis deregulation period, foreign investors are most likely fundamental value investors with long-term investment horizons and well diversified portfolios, rather than short-term speculative stock-pickers.     

Household Use of Agricultural Chemicals for Soil-Pest Management and Own Labor for Yard Work

In spite of its potential health and environmental risks and contribution to agribusiness, the use of agricultural chemicals for yard care has not been well studied. In our discrete-continuous choice model, estimated with data from a national survey, a household chooses how much money, if any, to initially spend on types of agricultural chemicals and applicators and how much time to subsequently spend on other yard work. Households in big cities or with large gardens are more likely to use organic chemicals. The probability that a household chooses a mix of do-it-yourself and hired applications of synthetic chemicals increases with income, age, and the presence of preschoolers. Among households that apply only synthetic chemicals without hired help, those with young children, with higher incomes, in big cities, and with male heads spend more on the chemicals. The time that such households spend on other yard work increases with expenditures on the chemicals. Cancellation of a pesticide registration might create an extra private cost for households with young children even though the ban might reduce external costs.     

The Influence of Tourist Experience on Perceived Value and Satisfaction with Temple Stays: The Experience Economy Theory

Temple stays are emerging global cultural attractions that provide tourists with unique experiences and influence perceptions of value and satisfaction. This study examines the influence of escape, entertainment, esthetic, and educational experiences on perceptions of functional and emotional values as well as tourist satisfaction with temple stays. The results of the study show that escape and entertainment experiences are important predictors of both functional and emotional values. Esthetic experience influences emotional value, whereas educational experience affects functional value. Both functional and emotional values influence tourist satisfaction. Theoretical and practical implications of the study results are discussed.     

Do feminists still respond negatively to female nudity in advertising? Investigating the influence of feminist attitudes on reactions to sexual appeals

To test the belief that feminism and sexualization of women in advertising stand in opposition, this study employed a large US national sample (N = 1298) to examine how consumers’ feminist attitudes differentiate and predict their ethical judgment and ad-related evaluations of sexual images of women in advertisements. The results indicate that (1) consumers with higher feminist attitudes evaluated sexual ads more favorably than those having lower feminist attitudes, and (2) consumers’ feminist attitudes positively predict ad-related evaluations with full mediation of ethical judgment. These findings, which diverge from previous research, may indicate that contemporary feminists view sexual images of women differently than in previous decades. Theoretical and practical implications are described.     

The Korean Air nut rage scandal: Domestic versus international responses to a viral incident

This article investigates responses of the international and domestic (South Korean) publics to one of the most hotly debated corporate scandals in recent years: Korean Air’s so-called nut rage incident. By analyzing both international and domestic media coverage of the occurrence, we reveal contrasting interpretations between the two. Whereas the South Korean public tends to generate intense debates addressing a lack of ethics in Korean Air’s public communication following the incident, international public criticism is dominated by questions regarding South Korea’s chronic chaebol system and its negative image in relation to South Korea’s unique institutional context. Korean Air’s incongruent notice of the employee as a key stakeholder is also discussed in the international media. Our research findings indicate how, rather than focusing on legal responsibility, the normative attitude of businesses toward stakeholder pressures is crucial as a means of escaping legitimacy-threatening events. The results of this study demonstrate how public responses to a single incident are diverse in global society and offer new insights regarding the importance of ethics in management leadership and public communication after a crisis incident.