Globalization and Employment Relations in the Korean Auto Industry: The Case of the Hyundai Motor Company in Korea,Canada and India

Examination is made of the complex interactions between globalization and employment relations as reflected in the operations of the Hyundai Motor Company (HMC) in Korea, Canada and India. After the closure of its short-lived attempt to manufacture cars for the North American market from Canada, the HMC ‘relaunched’ its globalization strategy in India in 1998. An examination of Hyundai's experience in both countries suggests that employment relations is likely to continue to be an evolving blend of company-specific policies and locally-based practices.     

The Evolution of Enterprise Unionism in Japan: A Socio‐Political Perspective

This article proposes an alternative framework for understanding enterprise unionism by emphasizing political dynamics and the role of the state in labour relations. Our framework delineates the strategic behaviour patterns of each of the tripartite IR actors under collective bargaining. It maintains that the initial period of the collective bargaining era constituted a critical juncture for state labour policy that occurred in distinctive ways in different countries and that these differences played a central role in shaping the different union structures in the following decades. Our historical analysis shows that unlike its Western counterparts, the Japanese state was able to eradicate the horizontal union movement at the onset of the collective bargaining era because of its advantages as a late developer and Cold War politics, which resulted in enterprise unionism in Japan.     

Sketching: Friend or Foe to the Novice Designer?

Previous research by one of the authors showed that novice designers do not use sketching as a way to generate, develop and communicate design proposals, but move immediately to three-dimensional modelling. Neither do they generate multiple solutions.     

Do Consumption Goals Matter? The Effects of Online Loyalty Programs in the Satisfaction‐Loyalty Relation

This study investigates the effects of online loyalty programs in the customer satisfaction‐loyalty relationship. It is proposed that loyalty programs may induce loyalty toward programs (program loyalty), which may then influence loyalty toward stores (store loyalty). According to the results of a two‐wave survey, consumption goals matter in the effects of program loyalty on online store loyalty. For consumers with hedonic goals, hedonic program loyalty (e.g., free gifts) has a significant effect on online loyalty. For consumers with utilitarian goals, however, utilitarian program loyalty (e.g., coupons) has a significant influence on online loyalty. Theoretical and managerial implications are also discussed.     

I know something you don't know!: The role of linking pin directors in monitoring and incentive alignment

Increasing regulatory pressures have created specialization within boards, with more requirements and responsibilities being refocused to the committee level. Using data from S&P 1,500 firms, we find that board committee overlap associated with linking pin directors (i.e., those serving simultaneously on the audit and compensation committees) is an important conduit for knowledge transfer between boards' monitoring and incentive alignment functions. These directors are associated with lower executive compensation and influence pay mix. In studying the dynamics behind this process, we find that newly created linking pins improve monitoring effectiveness whereas recently dissolved linking pins decrease it. We also find that linking pins are all the more important when managers make less conservative accounting choices. Copyright © 2014 John Wiley & Sons, Ltd.     

The role of consideration sets in brand choice: The moderating role of product characteristics

This study investigates the role of consideration sets in brand choice. Brand‐level aggregated data are used to capture the responses of consumers who face a number of international and domestic brands in markets rather than two or three brands in experimental designs, as in Chaudhuri and Holbrook (2001). Empirical evidence from path analysis shows that the consideration set for hedonic products includes a smaller number of dominant brands, whereas the consideration set for utilitarian products includes more and diverse brands. The probability of being finally chosen from the consideration set differs according to product characteristics: hedonic vs. utilitarian. The authors discuss managerial implications and suggestions for future research. © 2009 Wiley Periodicals, Inc.     

Theme park revenue management with a dual admission policy

There are several efforts to increase the revenue of theme parks. One of them is to divide admission policy into normal and express admission. If a certain customer buys express admission ticket with more expensive price, it is possible to reduce the excessive waiting time by using the exclusive waiting line for some or all the attraction’s rides. In this study, decision-making elements such as the price of the express admission ticket, maximum allowed number of express admission ticket per day, and the type of rides which can apply the express admission ticket are investigated to maximize the revenue.     

Dichotomy between macroprudential policy and monetary policy on credit and inflation

This paper compares macroprudential policy and monetary policy using a simple New Keynesian model with credit. Macroprudential policy is effective in stabilizing credit with limited impact on inflation. Monetary policy stabilizes inflation, but is ‘too blunt’ for credit stabilization.     

Pseudospectral methods for pricing options

Models with two or more risk sources have been widely applied in option pricing in order to capture volatility smiles and skews. However, the computational cost of implementing these models can be large—especially for American-style options. This paper illustrates how numerical techniques called ‘pseudospectral’ methods can be used to solve the partial differential and partial integro-differential equations that apply to these multifactor models. The method offers significant advantages over finite-difference and Monte Carlo simulation schemes in terms of accuracy and computational cost.