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.     

How do green attributes elicit pro-environmental behaviors in guests? The case of green hotels in Vietnam

This study aims to identify green-hotel attributes and determinants that contribute to guests’ intention generation for visiting a green hotel and practicing pro-environmental actions during their hotel stay. The study’s results find five dimensions (Customer benefit, Energy efficiency, Water efficiency, Recycling policy and Green characteristic) that underlie 24 green-hotel attributes. Out of the five dimensions, Customer benefit, Energy efficiency, and Green characteristic are found to positively affect pro-environmental value and attitude that in turn enhance intention to practice environmentally friendly actions and visit a green hotel, while pro-environmental value does not trigger pro-environmental attitude. Theoretical and managerial implications are discussed.     

The Moderating Role of Water Park Service Quality,Environment, Image,and Food Quality on Perceived Value and Customer Loyalty: A South Korean Case Study

This study empirically examined not only the relationship between perceived value and customer loyalty, but also the moderating role of service quality, environment, image, and food quality at a water park, a segment of the tourism industry. In particular, the current study, using hierarchical regression analyses, examined the direct effects of perceived value on customer loyalties—loyalty and behavioral loyalty—as well as the moderating effect of four elements. As anticipated, this study showed that perceived value has significant and positive effect on both types of loyalty. In addition, the result of the interaction effects showed that service quality and food quality acted as moderators on the relationship between perceived value and attitudinal loyalty; however, water park image acted as a moderator on the relationship between perceived value and behavioral loyalty only. Finally, these results indicated that three elements—service quality, water park image, and food quality—have significant interaction on the relationship between perceived value and attitudinal/behavioral loyalty. These findings may provide water park operators with useful and detailed guidelines for satisfying customer loyalty levels, both attitudinally and behaviorally. More detailed findings and implications are also discussed.     

Investigating the key drivers of traveler loyalty in the airport lounge setting

This study intended to examine the structural relationships among functional congruity factors, delight, well-being perception, brand identification, and traveler satisfaction in the formation of air traveler loyalty for airline lounges. The survey sample consisted of 394 air travelers who visited an airline lounge in airport in the U.S. during the past six months. Structural equation modeling was used to test the conceptual model. Results of the structural equation modeling indicated that functional congruity of the physical environments and facilities were significantly and positively associated with delight, which in turn, affected air travelers’ perceived well-being and satisfaction level in the lounge. It was also found that well-being perception significantly and positively affected brand identification and satisfaction, and loyalty was a positive and significant function of satisfaction. The mediation test showed that delight and well-being perception were significant mediators in the proposed theoretical framework. Practical and theoretical implications are discussed.     

An analysis on perceived crowding level reported by domestic visitors of South Korean National Parks: a multilevel ordered logit approach

Perceived Crowding Level (PCL) is an indicator of the social carrying capacity of recreational sites such as National Parks. Using a sample of national-level visitor survey data across 21 National Parks in South Korea, this paper aims to apply a multilevel ordered logit model as a method in testing for statistical relationships between the PCL and the covariates, accounting for site- and individual-specific heterogeneity. The results hint that levels of perceived crowding in South Korean National Parks are related to factors such as the behaviour of other users and the quality of park facilities such as comfort in accommodation. The measured level of heterogeneity can provide useful information about the level (nation-wide or park-specific) of intervention policies and management strategies.     

Online shoppers' response to price comparison sites

Customers' perceptions of price differ in the online environment due to the presence of price comparison sites. The purpose of this study is to examine how price comparison sites affect price and value perceptions of online shoppers across different product types and price consciousness levels of online shoppers. The results of the study indicate that the price information provided by an online price comparison site influences online shoppers' perceptions of internal reference prices. However, the influence of a price comparison site on value perception differs according to product type. As evidenced by the significant interaction effect between product type and price comparison site information, the presence of price comparison sites increases both transaction and acquisition value perceptions for the non-look-and-feel product category (e.g., notebook computers), but not for the look-and-feel product category (e.g., jeans). Contrary to the expectation, online shoppers' price consciousness influences their price and value perceptions independently of price comparison site information.     

Optimal Futures Hedging Under Multichain Markov Regime Switching

Most of the existing Markov regime switching GARCH‐hedging models assume a common switching dynamic for spot and futures returns. In this study, we release this assumption and suggest a multichain Markov regime switching GARCH (MCSG) model for estimating state‐dependent time‐varying minimum variance hedge ratios. Empirical results from commodity futures hedging show that MCSG creates hedging gains, compared with single‐state‐variable regime‐switching GARCH models. Moreover, we find an average of 24% cross‐regime probability, indicating the importance of modeling cross‐regime dynamic in developing optimal futures hedging strategies. © 2012 Wiley Periodicals, Inc. Jrl Fut Mark 34:173–202, 2014     

Asymmetric transmission between factory and wholesale prices in fiberboard market in Korea

This paper extends the estimation of price relationships in wood processing and empirical assessment of asymmetric price transmission by incorporating time lags in both explanatory and dependent variables. Each of the models developed and estimated in this article reveals the existence of asymmetric price transmission between factory and wholesale prices of fiberboard in Korea. Estimation results indicate that wholesalers earn additional profits by exploiting price fluctuations in the markets. The empirical findings in this study suggest the potential for lower wholesale prices of fiberboard with more competition in wholesale marketing.