Examining the influencing factors of intention to share accommodations in online hospitality exchange networks

ABSTRACT

CouchSurfing is a free social-network-based online hospitality exchange network, aptly representing a new sharing economy phenomenon. Based on social capital theory and previous literature, this study attempts to answer why hosts help strangers without any expected economic benefit within online hospitality exchange networks. An empirical study based on a Web survey conducted with CouchSurfing hosts reveals that the most identified antecedents (enjoy helping, shared narratives, desire to make friends, and reciprocity) are significantly related to hosts’ intention to share accommodations. Interestingly, the overshadowing effect of trust in CouchSurfing on the intention to share accommodations is also found.     

A method for reducing information asymmetry in destination–airline relationships

We propose a measure of business risk in air travel demand at the route level that can reduce information asymmetry during route development negotiations between tourism destinations and airlines. Aviation-exposed risk (AER) conveys information about the level of uncertainty with regard to air travel demand from an airline’s perspective. Using AER, tourism destinations and air service development teams can evaluate their risks from the perspective of the airline and its network. From there, an assessment can be made as to the value of air services in certain circumstances, including whether a direct underwrite or risk share between airlines and destinations is viable and necessary. By applying a portfolio analysis to an airline’s network, we find evidence that AER does indeed mimic the actual capacity distribution of the network. This provides support for AER as a useful risk measure to be used in practice.     

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.     

The Determinants and Effects of Clients Following Audit Partners Who Switch Audit Firms

Abstract

We examine the determinants of clients’ decision to follow departing partners to new audit firms and the effect of this decision on the likelihood of financial restatements. Using Taiwanese audit partner turnover data from 1984 to 2010, we find that clients are more likely to follow departing partners when the partners have more clients, longer tenure, and when both lead and concurring partners leave simultaneously. By contrast, clients are more likely to stay with their incumbent audit firms when the firms are one of the Big Four or when only the concurring partners leave. The extended partner tenure due to clients following departing partners, however, does not enhance audit quality. In fact, clients that stay at the incumbent firm experience a significant decrease in the probability of financial restatements in the first year after the audit partners leave, but clients that follow do not.     

Investment opportunities and cash holdings of firms: an empirical study on Korean firms

We find that the cash flow sensitivity of cash holdings of firms whose investment opportunities are lower is significantly higher by examining a panel data of 898 Korean firms for 1999–2014. The cash flow sensitivity of investment is also found to be lower in case of low investment opportunity. Both findings suggest that firms decide to hold cash in response to an increase in cash flow when they do not have a good investment opportunity. Precautionary motive because of financial constraints and uncertainty, and agency problems, however, are not associated with the cash flow sensitivity of cash holdings. These findings imply that it is necessary to develop new investment opportunities to encourage firms to spend more cash in Korea.     

Foreign ownership and investment: evidence from Korea

This study examines whether an increase in foreign ownership affects investment in Korea. Many studies have shown that in an imperfect financial market, a firm's investment depends on the availability of internal funds. If high foreigners’ shareholding is a sign of a firm's good financial position, and if foreign investors demand better corporate governance to protect their investments, then cash-flow sensitivity of investment decreases with the level of foreign ownership. Using data from Korean firms, it is found that cash-flow sensitivity of investment is lower in firms with high foreign ownership than in those with low foreign ownership. This finding is regarded as evidence for a potential benefit of open financial markets.     

Promoting cost efficiency and uniformity in parcel delivery centre locations and service areas: a GIS-based analysis

This paper provides a systematic framework to determine local delivery centre (LDC) locations and service areas to reduce delivery costs and balance the allocation of parcel delivery loads to promote sustainable LDC development. Based on a case study of a parcel distribution company in Korea, this study proposes two strategies for LDC service area delineation within each terminal service boundary that either minimises the total delivery time or balances the allocation of delivery loads. This research contributes to improving cost efficiency and balancing delivery load allocations in planning LDC locations and service areas that can potentially promote the long-term mutual sustainable development of parcel distribution companies and their local delivery counterparts.     

Estimation of semiparametric locally stationary diffusion models

This paper proposes a class of locally stationary diffusion processes. The model has a time varying but locally linear drift and a volatility coefficient that is allowed to vary over time and space. The model is semiparametric because we allow these functions to be unknown and the innovation process is parametrically specified, indeed completely known. We propose estimators of all the unknown quantities based on long span data. Our estimation method makes use of the property of local stationarity. We establish asymptotic theory for the proposed estimators as the time span increases, so we do not rely on infill asymptotics. We apply this method to interest rate data to illustrate the validity of our model. Finally, we present a simulation study to provide the finite-sample performance of the proposed estimators.