An Exploratory Investigation of Study-Abroad Online Information Cues

Despite numerous studies on the factors involved in the decision-making process on study abroad, little attention has been paid to the initial stage when students process information. This qualitative study aims to map out the cues involved when Chinese students process study-abroad information from an information-processing perspective. Findings showed that family members, the Internet, and agents were the main channels through which respondents obtained information. Recognition of qualifications by the source country, employment prospects, and price were identified as important cues. This study identified the determining role of cues by using a rating system. Using marketing cues, marketers may be able to design and align marketing strategies which are more efficient at attracting Chinese students in the future.     

Antecedents of market orientation in semi-public service organizations: a study of Dutch housing associations

The purpose of this study is to explain which factors affect the market orientation of semi-public service organizations in their transition from public to private. Change capacity and interdepartmental and organizational system factors are hypothesized to affect market orientation, which is operationalized in behavioural and cultural dimensions. Results of a survey among top-level executives of Dutch housing associations show that interdepartmental and organizational system factors have a significant effect. The most important antecedents, however, are two change capacity factors: process improvement control and top management emphasis. This suggests that change capacity is crucial for understanding market orientation in many service industries.     

THE IMPACT OF EXCHANGE RATE MOVEMENTS ON FOREIGN DIRECT INVESTMENT: MARKET‐ORIENTED VERSUS COST‐ORIENTED

This paper examines the impact of exchange rate movements on foreign direct investment (FDI). We first employ a real options model to show that while the depreciation of a host country's currency tends to stimulate FDI activity of cost‐oriented firms, the depreciation tends to deter FDI activity for market‐oriented firms. With industry panel data on Taiwan's outward FDI into China over the period 1991–2002, our empirical findings indicate that the exchange rate level and its volatility in addition to the relative wage rate have had a significant impact on Taiwanese firms’ outward FDI into China. In general, the empirical results are consistent with the prediction of the theory. Our results reveal that the relationship between exchange rates and FDI is crucially dependent on the motives of the investing firms. Without considering this fact in an empirical model, the testing results might suffer from aggregations bias.     

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.     

Foreign currency borrowing surrounding the global financial crisis: Evidence from Korea

We present a complete profile of firms’ foreign currency borrowing surrounding the 2007 global financial crisis. Employing extensive data from Korean firms during 2002–2012, we find that foreign currency borrowing is significantly related to firm attributes of export revenues, firm size, tangible assets and asset growth, as well as to macro-level factors. These results offer two important implications. First, macroeconomic factors alone cannot fully explain firms’ foreign currency borrowing. Second and more importantly, these firm attributes are indicative of a lower default probability and larger collateral value, which would not only facilitate borrowers’ access to foreign currency debt markets but also offer lenders a better protective cushion from possible loan defaults in the face of exchange rate changes and information asymmetry on borrowers’ credits. Period wise, asset-related firm attributes have more pronounced effects in the post- than pre-crisis period. We further show that banking regulations following the crisis effectively limit the access to foreign currency borrowing by Korean firms, most significantly by those belonging to large business groups.     

ALGORITHMIC METHODS FOR SINGLE SERVER SYSTEMS WITH REPEATED ATTEMPTS

In many practical situations customers applying for service and finding the server busy will not join a queue, but make a new attempt to enter service after some time. In this paper we study single server systems with repeated attempts both for infinite-source input and finite-source input where the service times are general and the reattempt times are exponential. Numerically stable recursion schemes are derived by which the time-average and customer-average steady-state probabilities can be effectively computed.     

Executive Compensation in UK Property Companies

We study the drivers of executive compensation in the listed UK property sector. The UK provides an excellent opportunity to analyze executive compensation due to high transparency in the different components of executive compensation. We show that company size is the most important variable in explaining the level of executive compensation. We find that absolute and relative share performance significantly explains long-term compensation, that management style has a distinct influence on the level of executive compensation, and that using alternative monitoring mechanisms (institutional shareholders, debtholders, and outside directors) leads to higher levels of long-term incentives. We find only weak evidence of pay-performance sensitivity for both cash and long-term compensation. Executive shareholdings provide a much stronger link between pay and performance than does executive compensation.

Information acquisition,referral, and organization

Each of two experts may provide a service to a client. Experts' cost comparative advantage depends on an unknown state, but an expert may exert effort to get a private signal about it. In a market, an expert may refer the client to the other for a fee. In equilibrium, only one expert exerts effort and refers, and the equilibrium allocation is inefficient. Referral efficiency can be restored when experts form an organization, in which a referring expert must bear the referred expert's cost. However, the referred expert shirks from work effort because of the lack of cost responsibility.     

Corporate social responsibility and provision of trade credit

In this article, we identify and examine three different views of corporate social responsibility (CSR) and the relationship between CSR and firms’ provision of trade credit. The trust view of CSR argues that CSR and trade credit provision are related positively, because CSR, as a trust-enhancing device, complements the incomplete contract nature of trade credit. The CSR literature shows that CSR firms tend to have higher cash holdings. With this in mind, the precautionary motive view of CSR suggests that cash holdings serve as a hedge against trade credit risk, while, on the other hand, the substitution view of CSR predicts that cash hoarding discourages the provision of trade credit. Using a dataset of 20,591 firm-year observations from 1991 to 2015, we find strong evidence that supports both the trust and substitution views of CSR but not the precautionary view of CSR.     

Comparison of Cramer–Rao lower bounds of variances for at least equal protection of respondents

In this paper, a new randomized response model is proposed, which is shown to have a Cramer–Rao lower bound of variance that is lower than the Cramer–Rao lower bound of variance suggested by Singh and Sedory at equal protection or greater protection of respondents. A new measure of protection of respondents in the setup of the efficient use of two decks of cards, because of Odumade and Singh, is also suggested. The developed Cramer–Rao lower bounds of variances are compared under different situations through exact numerical illustrations. Survey data to estimate the proportion of students who have sometimes driven a vehicle after drinking alcohol and feeling over the legal limit are collected by using the proposed randomization device and then analyzed. The proposed randomized response technique is also compared with a black box technique within the same survey. A method to determine minimum sample size in randomized response sampling based on a small pilot survey is also given.