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.     

Visitor Motivational Factors and Level of Satisfaction in Wellness Tourism: Comparison Between First-Time Visitors and Repeat Visitors

This study aims to examine the differences between visitor motivations and satisfaction between first-time visitors and return visitors to a recreation wellness tourist attraction site in South Korea. Data were collected using a questionnaire at a national arboretum and 573 samples were used for analysis. The study discovered that first-time visitor motivations were composed of four factors: “relaxation and rest”, “novelty”, “self-exploration”, and “accessibility”. The return visitor motivations were “sightseeing and experience”, “convenience for touring”, “self-exploration”, and “accessibility”. The desired outcomes motivating the visitation and level of satisfaction were different between first-time and return visitors. The results contribute practical information to managers and marketers not only of the arboretum, but also of wellness tourist attractions to improve strategic visitor management in Korea and beyond. The study strategically applies the arboretum as a competitive resource in a wellness tourism industry with strategic segmentation of visitors.     

Switching intention model development: Role of service performances,customer satisfaction,and switching barriers in the hotel industry

The intricate relationships among core service and service encounter performances, customer satisfaction, and switching barriers in the formation of satisfaction and switching intention were examined in this study. A field survey was conducted at upper-midscale hotels. The results of the structural analysis revealed that both core service and service encounter performances significantly affected customer satisfaction, and satisfaction completely mediated the effects of service performances on switching intention. In addition, findings from the tests for metric invariances indicated that components of switching barriers (switching costs, relational investment, and lack of alternatives’ attractiveness) moderated the relationships between satisfaction and switching intention. In particular, the role of satisfaction derived from service performances in decreasing hotel guests’ intention to switch is greater when they perceive high switching costs, relational investment, and lack of alternatives’ attractiveness. Based on study findings, theoretical and practical implications are identified and discussed.     

The relationships among overall quick-casual restaurant image,perceived value,customer satisfaction,and behavioral intentions

The purpose of this research is to explain the relationships among overall quick-casual restaurant image, perceived value, customer satisfaction, and behavioral intentions in the quick-casual restaurant industry. The findings indicate that overall quick-casual restaurant image significantly influences perceived value, and overall quick-casual restaurant image and perceived value had a significant role in influencing customer satisfaction. Additionally, overall quick-casual restaurant image, perceived value, and customer satisfaction are significant predictors of customers’ behavioral intentions. Finally, customer satisfaction can act as a partial mediator in the relationship between overall quick-casual restaurant image/perceived value and behavioral intentions. Furthermore, we discuss the theoretical and managerial implications of the findings and future research ideas.     

Promoting Tourism,Projecting Power: The Role of Television Commercials

This paper analyzes television commercials (TVCs) launched by Korea Tourism Organization (KTO) from 1999 to 2012. By repeating shots of traditional and Korean popular (k-pop) culture, high-tech machinery, and sportsmanship, it is fair to say that Korean tourism TVCs both reflected and fueled the fad a target audience has for Korea. Hence the commercials not only promoted tourism, they were also projecting national power in general and cultural power in particular. It is surmised that through power projection the TVCs intend to create a country halo effect so that the country’s products and services may enjoy an aspired added value.     

Perceptions of determinants of job selection in the hospitality and tourism industry: The case of Korean university students

ABSTRACT

This study explores the key factors influencing potential employees in the hospitality and tourism industry and examines whether causal relationships between behavioral attitudes, subjective norms, and perceived behavioral control influence students' job selection. The study suggests that the career decision-making process is related to job selection. A total of 307 responses were analyzed. The results explain individual students' attitudes toward a behavior and perceived behavioral control in the context of their job selection. Attitudes toward a behavior and job selection had significant effects on career decisions. On the other hand, opinions of significant others had no significant effect. Perceived behaviors required to decide on jobs had a significant effect on job selection intentions. Students with internship experience were likely to form positive attitudes toward the hospitality and tourism industry, suggesting internships to be a useful source of a stronger relationship between the industry and job aptitudes of students in hospitality and tourism programs. The results have important implications.     

The effects of strategic and market complementarity on acquisition performance: evidence from the U.S. commercial banking industry, 1989–2001

Most traditional research on mergers and acquisitions tends to focus on the role of similarity in explaining acquisition performance. While scholars have recently begun to examine acquisition complementarity, there is still little evidence concerning how complementarity influences acquisition performance. Further, previous research has not drawn the connections between related contexts and the potential benefits from complementarity. In this article, we move the study of acquisition complementarity forward by investigating the effects of strategic and market complementarity on acquisition performance in the context of related horizontal acquisitions. We also propose that two key attributes of acquirers—strategic focus and out‐of‐market acquisition experience—will moderate this relationship. We investigate our research questions in the context of all 2,204 acquisitions made by publicly traded U.S. commercial banks during the 12‐year period from 1989 to 2001. Our findings are generally supportive, suggesting complementarity is an important antecedent of acquisition performance, and raising important issues on the nature of acquisition research in general. Copyright © 2009 John Wiley & Sons, Ltd.     

A century of purchasing power parity confirmed: The role of nonlinearity

Taylor (2002) claims that Purchasing Power Parity (PPP) has held over the 20th century based on strong evidence of stationary for century-long real exchange rates for 20 countries. Lopez et al. (2005), however, found much weaker evidence of PPP with alternative lag selection methods. We reevaluate Taylor’s claim by implementing a recently developed nonlinear unit root test by Park and Shintani (2005). We find strong evidence of nonlinear mean-reversion in real exchange rates that confirms Taylor’s claim. We also find a possible misspecification problem in using the ESTAR model that may not be detected with Taylor-approximation based tests.     

The Sophisticated and the Simple: the Profitability of Contrarian Strategies

A variety of variables have been used to form contrarian portfolios, ranging from relatively simple measures, like book‐to‐market, cash flow‐to‐price, earnings‐to‐price and past returns, to more sophisticated measures based on the Ohlson model and residual income model (RIM). This paper investigates whether: (i) contrarian strategies based on RIM perform better or worse than those based on the Ohlson model; (ii) contrarian strategies based on more sophisticated valuation models (e.g. Ohlson and RIM) perform much better than the relatively simpler ranking variables that have been used so extensively in the finance literature. Given that the RIM and Ohlson models require greater information inputs and technical know‐how, and make different implicit assumptions on future abnormal earnings, it is important to ascertain if they offer significantly greater contrarian profits to outweigh the increased costs that they entail. Indeed, our surprising finding is that simple cash flow‐to‐price measures appear to do almost as well as the more sophisticated alternatives. One would have expected the sophisticated models to significantly outperform the simple cash flow to price model for the reasons given by Penman (2007) .     

Mechanisms of perceived accountability in Korean NPOs: activating the dynamics of NPM-driven and confucian-driven cultures

Quality & Quantity - Non-profit organizations (NPOs) have been recognized as critical performers not only in the enhancement of social values and civic integration but also in the construction...