Antecedents of Adopting Corporate Environmental Responsibility and Green Practices

This paper examines the antecedents of organizational commitment for adopting corporate environmental responsibility and green practices in the case of the logistics industry in South Korea. Seven hundred and eighty employees and top management from logistics companies were sampled. The data were analyzed using factor analysis, structural equation modeling techniques, and one-way analysis of variance. The results showed that social expectations, organizational support, and stakeholder pressure were the important antecedents for the adoption of corporate environmental responsibility and green practices. In the path analysis, social expectations had the greatest impact on both stakeholder pressure and green practice adoption. Moreover, we found that the higher the job titles were, the more willing they were to adopt green practices. This indicated that the current top management of Korean logistics companies is well aware of being mandated to make a commitment to corporate environmental responsibility and green practices.     

Effects of art in retail environments

Artworks have been introduced to retail environments outside of the art gallery and museum setting, with the assumption that art can transfer everyday consumption experiences into special and memorable ones. However, the question on the effectiveness of the placement of artwork in retail environments in influencing consumers’ behaviors and experiences has not been addressed. Using the Sacred Heart sculpture by Jeff Koons, we conduct two studies to test the influence of art on an individual’s behavioral intention to visit a restaurant and expected experience of food consumption. Study 1 corroborates that the effect of attitudes toward an artwork on behavioral intentions is amplified when consumers’ art knowledge and levels of openness to experience are low, indicating that consumers who lack art appraisal skills are likely to be dependent on their attitude toward art. Study 2 examines the mediating roles of attitudes toward an artwork and an artist by manipulating art attractiveness and artist information as the sources of esthetic perceptions. The artist information serves as the factor boosting the effect of art attractiveness on the behavioral intention through the mediation of attitudes toward the artwork and the artist. Results show that how consumers perceive an artwork, namely artistic processing in a retail environment, is powerful in leading them to enter a store and have desirable consumption experiences. Retailers can also enhance consumer experience by selecting artworks based on target consumers’ level of art knowledge and openness to experience.     

Trading Behavior Prior to Public Release of Analyst Reports: Evidence from Korea

This paper investigates information leakage from analyst reports prior to their public release. Previous studies document abnormal trading by institutions or short selling before announcement of recommendation changes. Such prerelease abnormal trading is interpreted as evidence of information leakage from analyst reports. However, if sophisticated investors obtain information similar to what analysts have from other sources, abnormal prerelease trading patterns would be observed even if there were no information leakage from analyst reports. This paper, using a unique data set from Korea, aims to determine whether a direct causal link between recommendation changes and prerelease trading exists, by comparing trading behavior of client investors with non‐client investors. We find that abnormal prerelease trading by client investors, especially client institutions, is earlier in timing and greater in magnitude than that of other investor groups, supporting the information leakage hypothesis. We further find that net buying by client institutions and client large individuals is positively associated with firm, analyst, and earnings forecast change variables that influence formulation of recommendation changes and their impacts.     

The role of wellness spa tourism performance in building destination loyalty: the case of Thailand

ABSTRACT

Despite the considerable growth of the wellness spa tourism market, little research has examined the intricate procedure involved in travelers’ loyalty toward Thailand as a wellness spa tourism destination. This research aimed to explore such loyalty formation by investigating the relationships among performances of wellness spa tourism in Thailand, affective experiences, and overall satisfaction. A field survey methodology was used for data collection. Findings of the structural analysis revealed that product performances, affective experiences, and satisfaction were in general significantly associated, and that these variables contributed to a satisfactory prediction for destination loyalty. In addition, the adequacy of the second-order structure of the performances of Thai wellness spa tourism was demonstrated. Moreover, the relative effectiveness of satisfaction in building loyalty was identified. Both affective experiences and satisfaction were also found to have a significant mediating impact. Implications for destination researchers and practitioners are discussed.     

A further look at transaction costs,short sale restrictions,and futures market efficiency: The case of Korean stock index futures

Persistent underpricing in the Korean stock index futures market is documented and alternative explanations are examined. No-arbitrage pricing bands are computed using alternative sets of transaction costs and short sale restrictions faced by different investor groups. We find that a substantial portion of the mispricing can be explained by these factors, though a high incidence of mispricing remains after accounting for costs faced by the marginal trader group—the KSE exchange members. We also observe frequent underpricing of futures during periods of downward market trends. This is attributed in part because of unique restrictions on short sales and accounting conventions in the Korean market. In addition, tests of alternative futures pricing models are conducted that provide mixed results. Though we do not reject the standard cost-of-carry model, an equilibrium pricing model provides reasonable explanatory power. Further, use of the cost-of-carry model does not appear to be driving the findings of persistent underpricing. © 1999 John Wiley & Sons, Inc. Jrl Fut Mark 19: 153–174, 1999     

Job Market Signaling: What Drives the Productivity of Finance Ph.D.s?

We study the research productivity of new finance Ph.D.s as measured by the number of quality publications. A commonly accepted notion is that the highest ranked schools produce the candidates with the greatest potential for high‐quality publications. Our results, however, find publications or revisions in top‐tier journals during the doctoral program are a stronger measure of potential research productivity than the school attended. Our findings demonstrate how candidates outside of the top schools can signal their future research productivity. Even though we examine the specialized labor market, our results have broader implications for markets outside academics.     

The effect of core menu attribute,green menu background,and gender on consumers’ attitudes toward korean dishes

Given the healthy eating trends and the growing popularity of Asian cuisines in the USA, this research investigates the interaction effect of gender and two types of health cues, namely core menu attribute (perceived healthiness-chicken vs. beef) and menu background color (green vs. white) on consumer attitudes toward Korean dishes. Our findings indicate that pairing a chicken dish with a green menu background leads to highly favorable attitudes among females. Males, on the other hand, exhibit similar attitudes toward chicken and beef dishes with a green background. Such gender differences are attenuated with a white (neutral) menu background.     

The Impact of Firm Capabilities and Competitive Advantages on Import Intermediary Performance

ABSTRACT

Import intermediary firms, domestic firms that serve U.S. industries by linking domestic wholesalers/retailers and foreign distributors/manufacturers, handled a whopping U.S. $1.85 trillion of commodity good imports in 2006. This study focused on these important firms by assessing the role of capabilities and competitive advantages as key determinants of import intermediary performance. The empirical results showed that market interpretation, sourcing, and service capabilities, overall, positively affected cost, product, and service competitive advantages. These competitive advantages, in turn, positively affected their relationship performance with business partners. Results, however, also indicated some interesting negative associations among sourcing capabilities, service advantages, and relationship performance with foreign partners, raising questions about extant firm performance theory.     

Measuring Retailers' Sustainable Development

This study aimed to develop a framework and measurement items for retailers to assess sustainability while avoiding potential subjectivity by combining top‐down and bottom‐up approaches, and verifying their validity based on consumer perceptions of sustainable retailing. The framework consisted of 54 measurement items categorized into a three‐order hierarchical model. At the top level of the model, there were three third‐order dimensions respectively related to consumers, retailers, and society. At the middle level, eight second‐order sub‐dimensions associated with retailing mix were classified into the aforementioned third‐order dimensions. At the bottom level, there were 21 first‐order sub‐dimensions related to the sustainable retailing activities. The development of sustainability assessment by combining top‐down and bottom‐up approaches and including consumer perceptions will allow retailers to assess their sustainability more strategically, as it will reduce the subjectivity and increase consumers' recognition of sustainable retailing. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment