Cultural value,consumption value,and global brand image: A cross‐national study

In expanding their market to the global level with clear and consistent global brand images across nations, marketers are ever confronting the issue of how to deal with different cultural values. Cultural value is identified as an influential factor on brand image and is widely accepted as one of the crucial concepts in understanding consumer consumption value, which determines choices of consuming everyday products and services. Most firms endeavoring to establish and maintain consistent global brand images, however, adopt a standardized brand image strategy that usually does not consider individual target markets” characteristics, including the concepts of cultural value and consumption value. This study developed a conceptual framework which incorporated cultural value not only as a direct antecedent of brand image, but also as an indirect antecedent of brand image through consumption value, and empirically tested it using the category of apparel. Following this framework, this study hypothesized the differences in brand image, cultural value, and consumption value between the U.S. and South Korea. Data were gathered through surveying university students residing in the San Francisco and Seoul metropolitan areas using a convenience sampling method. A total of 329 completed questionnaires were used in factor analysis, discriminant analysis, and structural equation modeling. The results provide insights into standardized brand image strategies and suggest some implementable tools that might prove effective in both countries. © 2009 Wiley Periodicals, Inc.     

A Prototype of Multicomponent Brand Personality Structure: A Consumption Synmbolism Approach

Brand personality (BP) in the postmodern marketplace encompasses a variety of anthropomorphized attributes associated with a brand, reflecting on a wide spectrum of social, cultural, and psychological associations capturing various aspects in everyday life stories of consumers. Most prior research onBP, however, has employed a psychology‐based approach, and has not yet fully demonstrated the concept's market‐driven scope in the contemporary brand schema. To bridge the gap between the practitioner and scholar, this study employed a consumption symbolism approach to develop a multicomponent structure ofBP. A qualitative study was conducted with 36 brands of six product/service categories (fashion/luxury, beverage, automotive, personal computer, cosmetics, and retailer) within a specific context (South Korea). The results yielded a prototype of multicomponent BP structure consisting of one psychological component (traits) and three sociocultural components (narratives of socioeconomic/life scene/physical variability). The findings of the study broaden the current understanding of BP by suggesting a multidisciplinary perspective embracing its sociocultural aspects, and by empirically demonstrating the prototype reflecting on a wide spectrum of consumer narratives.     

Credit Risk Models – Do They Deliver Their Promises? A Quantitative Assessment

We develop a framework to assess the statistical significance of expected default frequency calculated by credit risk models. This framework is then used to analyse the quality of two commercially available models that have become popular among practitioners: KMV Credit Monitor and RiskCalc from Moody's.
Using a unique database of expected default probability from both vendors, we study both the consistency of the prediction and its timeliness. We introduce the concept of cumulative accuracy profile (CAP) that allows to see in one curve the percentage of defaulting companies captured by the models one year in advance. We also use the Miller's information test to see if the models add information to the S&P rating.
The result of the analysis indicates that these models indeed add relevant information not accounted for by rating alone. Moreover, with respect to rating agencies, the models predict defaults more than ten months in advance on average.
(J.E.L.: C52).     

Self-help Groups and Income Generation in the Informal Settlements of Nairobi

The aim of this paper is to understand the functioning and thescope of self-help groups in the informal settlements of urbanareas as a means of generating income for poor households. Ituses a unique data set collected by the author in 1999 surveyingall individual group members from several informal settlementsin Nairobi. It studies the individual determinants of earningswithin groups and relates group composition to various indicatorsof group functioning. Sex, age and ethnic identity are amongthe most important determinants of individual reliance on groupincome and of access to group loans. Heterogeneity in earningsamong members is shown to reduce their ability to borrow fromthe group as a whole but not from each other. The impact ofethnic and other forms of heterogeneity on the division of labour,choice of compensation schemes, sanctioning technology and recruitmentcriteria is also described.     

How Should the Allocation of Resources Adjust to the Baby Bust?

We analyze the impact of a drop in fertility on the optimal allocation of resources in an overlapping generations economy where old workers care about leisure. We also characterize optimal dynamics and study the decentralization of the optimum by means of inter‐generational transfers and/or public debt. We conclude that the policy recommendations of postponing retirement is fragile and depend on preferences and technologies. Also, even when the optimal adjustment of public debt goes into the expected direction in the long run—i.e., public debt should decrease—this may not be the case during the transition.     

Understanding the Benefit Sought by Rural Tourists and Accommodation Preferences: A South Korea Case

Rural tourism has been widely acknowledged for its effectiveness in contributing to rural areas’ development. With strong government support, rural tourism has developed in many countries during the last several decades. This study aims to improve the understanding regarding tourism in Korean rural areas using a segmentation approach. The responses of 442 tourists in 23 rural villages were analyzed. Four segments of tourists were identified based on the different benefits they sought for their vacation in rural establishments. The estimation of a multinomial logit model determined the socio‐demographic characteristics and the preferred accommodations of a rural tourist. Discussions and implications of the detailed findings are provided in the last section. Copyright © 2012 John Wiley & Sons, Ltd.     

The Information Content of Productivity Measures: an International Comparison*

This study examines whether, and to what extent, productivity information is used by the market and whether it is useful as a predictive measure. To see if nationality has any bearing on these issues, we examine the information content of productivity measures in Japan, Korea and the United States. While correlations between security returns, productivity changes and unexpected earnings are not uniform across our sample countries, our findings suggest that productivity, as a performance metric, merits greater attention by financial managers and security analysts. The substitution of productivity in place of short-run earnings could very well be the key to enhanced performance in today's environment of global competition.     

The Impact of Gender Similarity on Employee Satisfaction at Work: A Review and Re‐Evaluation*

abstract We used data from the British 1998 Workplace Employee Relations Survey (WERS98) to examine key unanswered questions about the impact of gender similarity on employee satisfaction at work. The study sample consisted of 11,848 men and 11,278 women from over 1700 workplaces across Britain. In line with gender‐specific compositional arguments, the effects of gender similarity were found to be asymmetrical for men and women, with similarity tending to have a greater positive impact on men than on women. The effects involved were primarily linear in nature. Net of the potentially confounding influence of other factors, they were also found to be quite weak, weaker than has commonly been suggested in the literature.     

青藏铁路开通与西藏大发展——青藏铁路：西藏发展的助推器

2005年我国历史上最重要的一条铁路——青藏铁路全线贯通，2006年7月正式试运营。对于这样一条全世界都关注的铁路的建成和运营，将对西藏的经济社会发展产生什么影响？我们应该选择什么样的应对策略，是值得认真研究的大课题。为此，本期封面文章全力推出专题：青藏铁路开通与西藏大发展。本刊特邀《西藏人口发展战略研究》课题组专家学者，力图从西藏的社会、文化、经济各个方面作一深入探讨，为各级政府决策提供科学建议，为西藏的发展建言献策。[编者按]     

Research instrumentation and institutional innovation in canada

Science policy is being challenged. Conceptions of innovation and the nature of research are rapidly being forced beyond traditional views which see innovation as a linear process and science policy in terms of funding issues. Indeed, the policy challenge is being defined by the tension between trying to conduct or encourage research that is at or near an expanding research frontier, while simultaneously functioning within 'steady state' fiscal environments. One key manifestation of this challenge—which is underpinned by a new social contract between the scientific and government communities—is being expressed in terms of the changing role that research instrumentation is playing with regard to research management, research policy and research planning. This paper examines several Candian example f the changing nature of research, with particular reference to the role of instrumentation; it also outlines the particular challenges that small open econmies must face with respect to instrument-intensive research and offers a possible taxonomy for analyzing innovation and policy options.