Non-regular professionals' dual commitment in South Korea: antecedents and consequences

There is a growing concern with whether nonregular professionals are concurrently committed to both the organization and their profession and whether such commitments are beneficial to that organization. This article seeks to investigate the relationship between organizational justice variables and the dual commitment of nonregular professionals via perceived organizational support (POS) and the subsequent effect of the dual commitment on organizational citizen behavior. Hypotheses are developed and then tested through structural equation modeling with data collected from a total of 1143 part-time instructors at South Korean universities. The findings of this study reveal that the perceptions held by nonregular professionals of organizational justice constructs concurrently influence organizational commitment and professional commitment via POS and that both commitments are positively associated with altruistic behavior. The findings advance our understanding of the dual commitment of nonregular professionals and provide universities with managerial implications as to how to manage effectively part-time instructors. Limitations, directions for future research, and conclusions are presented.     

Constructing a mixed-logit model with market positioning to analyze the effects of new mode introduction

This study aims to investigate how the introduction of high-speed rail (HSR) influences traveler choice behavior and the market structure in the western corridor of Taiwan. A new mixed-logit model with factor decomposition is constructed to analyze the market positioning of the existing modes and HSR; the data is collected using the stated preference method. The empirical results show that travel cost is the major factor in market positioning. After the introduction of HSR, travelers’ mode preference did not change, whereas locations across modes on the market-positioning map as well as some coefficients of the explanatory variables changed.     

Financial repression and external openness in an endogenous growth model

An endogenous growth model has been developed that extends Sidrauski (1967), Roubini and Sala-i-Martin (1992,1995) and Lucas (1988) by combining financial development, human capital investment, and external openness. Financial development and trade liberalization are shown to increase the economic growth rate by increasing the marginal benefits of human capital investment. Expansionary governments are, however, provided with an incentive to increase the money supply growth rate, to repress the financial sector, to close its economy, and to impose a high proportional income tax rate.     

Intra‐firm differentiation of compensation systems: evidence from US high‐technology firms

While scholars have long recognised the influence of firm decisions on aspects of compensation (e.g. pay level and pay mix), prior compensation studies offer an ambiguous understanding regarding their scope. Some studies argue that firms customise compensation decisions according to employee groups, whereas others assume that firm compensation decisions apply uniformly throughout a firm. To address this research gap, the current study analyses pay levels and pay mixes for R&D employees and administrative employees in US high‐technology firms. Our empirical analyses show that firms make distinct compensation decisions for these two job families, but these decisions are ultimately consistent. These findings highlight firms' intention to strike a balance between customising compensation systems according to employee groups and maintaining internal consistency. Our findings add interesting insights to the strategic HRM and talent management literatures, which claim that firms should differentiate among employees when designing HRM systems.     

Standards and Institutional Capacity: An Examination of Trade in Food and Agricultural Products

The ability of developing countries to cope with emerging standards in food and agricultural products is influenced by their institutional capacity. This paper develops original measures of four dimensions of standards-related, institutional capacity: information, conformity, enforcement, and international standard-setting. These measures are incorporated into a gravity model to investigate whether these capacities offset the negative effects of Aflatoxin B1 standards on food and agricultural product trade. The results indicate that informational capacity and conformity capacity do indeed have such offsetting effects. The evidence with regard to enforcement and international standard-setting is less clear.     

Far East Asia tourist market segmentation by push attributes

The purpose of this study is to segment the Far East Asia tourist market by using push attributes and to delineate related implications. Literature regarding these related studies and market segmentation processes was reviewed. This study utilized push attribute data collected from those people who would most likely travel to the Far East Asia in the early part of the twenty‐first century. A factor‐cluster approach was employed to find and explore the market characteristics. Seven factors and six clusters were extracted from the data analyses. Cluster scores were significantly different by destination, by country of origin, and by themselves. Clusters have unique characteristics in terms of push attributes. Thus, there is a need to cater each cluster by considering the market preferences separately. Further research is recommended to further the understanding of the Far East Asian tourist market.     

Corporate Insurance as a Necessary Form of Consultant–Investigator Contract

Existing literature argues that corporate insurance is purchased because the insurance company produces risk management information for publicly held corporations. In this article, we address a fundamental question as to why other financial intermediaries cannot perform the same information production function as the insurance company. We argue that when the risk manager of the firm performs multiple tasks and needs consulting and investigation services from an outside agent for efficient risk management, the optimal contract with the agent has to be in the form of an insurance contract. Other types of contracts, such as flat-fee contracts, cannot be optimal. Therefore, the insurance company is ideally suited to provides these services.     

Growth of Hong Kong Before and After its Reversion to China: The China Factor

The paper focuses on the Hong Kong economy and attempts to measure the contribution of Hong Kong's integration with mainland China to its GDP growth rate. Two linkages have received particular attention, namely, Hong Kong's foreign direct investment (FDI) in China and immigrants from China. While the former is assumed to stimulate capital investment in Hong Kong but at the same time to reduce human capital formation (owing to a shrinkage of its domestic manufacturing sector), the latter is assumed to further reduce Hong Kong's average human capital because immigrants tend to be less educated. By making some assumptions about the future trajectories of Hong Kong direct investment in China and Chinese immigrants into Hong Kong after its reversion to China, the paper offers some predictions about Hong Kong's future economic growth.     

Determinants of Underwriter Participation in Initial Public Offerings of Common Stock: An Empirical Study

This paper examines an optimal underwriter participation model and develops testable hypotheses regarding the influence of certain factors on the degree of underwriter participation in initial public offerings (IPOs) of common stock. The issue of underwriter participation is important primarily due to the tradeoff between foregone underwriter compensation and underwriting risk reduction. The results of this paper indicate that factors related to the issue, issuing firm, underwriter, and IPO market conditions all are important determinants of the participation decision. Interestingly, the results also show that the importance of these factors is not consistent across underwriter prestige groups. In particular, factors external to underwriters (e.g., the issuing firm and market characteristics) are more important for explaining nonprestigious underwriter participation, while factors related to underwriters themselves play a more important role for explaining prestigious underwriter participation.