Explaining credit rating differences between Japanese and U.S. agencies

We compare credit ratings assigned to Japanese firms by the two leading U.S. rating agencies and the two leading Japanese agencies. Our goal is to investigate the complaint that the U.S. agencies Moody's and Standard and Poor's (S&P) ignore special corporate governance features of Japanese firms, i.e., keiretsu affiliation. We find that it is true that ratings of Japanese firms by the U.S. agencies are systematically lower than those assigned by Japanese raters. However, the reasons for the differences are not found to be related to keiretsu affiliation. Thus, we reject one of the prominent reasons for rating differences put forth by managers of Japanese firms. This leaves open the question of what drives the difference. The phenomenon is clearly consistent with more general home bias documented in previous work.     

Analysis of Labour Participation Behaviour of Korean Women with Dynamic Probit and Conditional Logit*

We analyse the dynamic labour participation behaviour of Korean women. State dependence under unobserved heterogeneity is considered, where the heterogeneity may be unrelated, pseudo‐related, or arbitrarily related to regressors. Three minor methodological contributions are made: interaction terms with lagged response are allowed in dynamic conditional logit; a three‐stage algorithm for dynamic probit is proposed; and treating the initial response as fixed is shown to be ill‐advised. The state dependence is about 0.6 × SD(error), higher for the married or junior college‐educated, and lower for women in their twenties and thirties. While education increases participation, college education has negative effects for women in their forties or above. Marriage has a high negative short‐term effect but a positive long‐term effect.     

论资产弃置会计的国际比较

本文首先说明了资产弃置费用概念,然后分别阐述了不同国家和组织对资产弃置费用处理的会计规定和处理方法,并对其进行了理论性总结,认为它是对传统会计处理方式的一种扩展。作为环境会计的一项重要核算内容,它涉及环境负债、长期资产、折旧与新增费用的组合处理,并采用未来不确定估计方式计量环境负债金额,具有较大的创新。对此,论文还提出了构建我国资产弃置费用会计准则的建议。     

Manager Retention and Post-Bankruptcy Performance: Evidence from South Korea

This study uses a sample of bankrupt firms in South Korea to reexamine the effect of manager retention on a firm’s post-bankruptcy performance, with a particular focus on the attributes of retained managers. Prior studies did not clarify whether a lack of ability of the retained manager or their self-serving behavior contributes more to a firm’s poor post-bankruptcy performance. Our results show that firms that retain their pre-bankruptcy managers are more likely to experience poor post-bankruptcy firm performance than those that replace incumbent managers, possibly because of the lack of ability of the retained managers rather than their self-serving behavior.     

Cross-Cultural Differences in Social Identity Formation through Travel Blogging

Blogs are an Internet application that continues to grow in popularity. Many blogs contain travel-related postings and, thus, are of importance for researchers and practitioners in the tourism field. Differences in blog use have been found across different cultures. This study seeks to test whether social identity theory can explain some of the differences in extent and type of blog use. A sample of 120 travel blogs written by Korean and U.S. bloggers about three different destinations (Paris, Hawaii, and Tokyo) was analyzed. The results show significant differences that fit the assumptions derived from social identity theory.     

废干电池制备锰锌铁氧体中硫酸盐溶液脱除钛钾钠的研究

研究了在废干电池和钛白厂废硫酸制备锰锌铁氧体过程中硫酸盐溶液脱除钛钾钠的影响.实验结果表明,以双氧水作为氧化剂,在15L的硫酸盐溶液,控制反应温度为95℃,pH值为1.5,反应时间为2h条件下,加入100mL双氧水,净化后溶液中的钛、钾、钠离子浓度分别为0.005g/L、0.005 g/L、0.084 g/L,达到制备高档锰锌铁氧体产品的要求.     

废干电池制取锰锌铁氧体过程中锰的测定

利用废干电池制取锰锌铁氧体过程中需要准确测定锰含量。以硝酸银作催化剂，采用硫酸亚铁铵滴定法测定锰含量，并对氧化剂用量、硝酸银用量、铁锌的影响等进行了试验。结果表明，该法操作简单、快速准确，锰回收率为98．7％-102．8％。     

Effect of Restaurant Patrons' Regret and Disappointment on Dissatisfaction and Behavioral Intention

The objective of this study is to investigate the relationship among regret/disappointment, dissatisfaction, and behavioral intention in service failure situations at a restaurant. Even though there is a consensus regarding the positive relationship between regret/disappointment and customer dissatisfaction, unclear results still exist regarding the relationship between regret/disappointment and different types of behavioral intention. Thus, the present study attempts to clarify these fuzzy relationships. Specifically, this study aims to enhance understanding of the influence of regret and disappointment on behavioral intention (switching/negative WOM). The findings suggest that both regret and disappointment are significant determinants of customer dissatisfaction and switching/negative WOM. Further, the study results indicate that regret is an important predictor of switching intention, whereas disappointment is an important determinant of negative WOM. Finally, based on these findings, managerial implications for restaurant managers are discussed.