International Transmission Mechanisms and Contagion in Housing Markets

This paper explores international transmission mechanism and its role in contagion effect in the housing markets across six major Asian cities. The analysis is based on the identification of house price diffusion effects through a global vector autoregressive (GVAR) model estimated using quarterly data for six major Asian cities (Hong Kong, Tokyo, Seoul, Singapore, Taipei and Bangkok) from 1991Q1 to 2011Q2. The empirical results indicate that the open economies heavily relying on international trade such as Singapore, Japan (Tokyo), Taiwan (Taipei) and Thailand (Bangkok) show positive correlations between the economy's openness and house prices, which is consistent with the Balassa–Samuelson hypothesis. Interestingly, some region‐specific conditions also appear to play important roles as determinants of house price movements, which may be driven by restrictive housing policies and demand–supply imbalances such as Singapore and Bangkok. These results are reasonably robust across several model specifications. The findings bear significant implications for formulation of investment strategy and public policies.     

Off-balance sheet activities and cost inefficiency in Taiwan's Banks

In this study, we adopt a stochastic cost frontier method to investigate the influence of off-balance sheet (OBS) activities on the cost efficiency of Taiwan's banks. We estimate and compare cost inefficiency with or without OBS outputs of 46 Taiwanese commercial banks during the period, 1998 through 2001. The conclusions of this empirical study are as follows. First, omitting off-balance sheet outputs in estimating the cost frontier function of banks results in an underestimation of bank efficiency by approximately 5 per cent. Second, large banks are associated with a higher cost efficiency and have an increased ability to develop OBS activities. This is consistent with Taiwan's regulatory policies, which focus on promoting efficiency in the banking industry of emerging markets. Banks with higher employee productivity are also more cost efficient. Finally, we observe evidence of economies of scale in both models with or without OBS specification in Taiwan's bank industry. Economies of scope between loans and OBS outputs are also observed.     

Consumer Data Analysis and Its Managerial Application for the Grocery Industry

Consumer data is collected to understand the heterogeneity of consumer behavior and store competition in grocery shopping. Marketing research techniques are used to analyze consumers’ decision processes and their preference models. Initial modeling results are aggregated to search for substantial clustering patters. The demographic profiles are also examined for clustering interpretations. The derived research results can assist grocery industry to better understand its customers and the competition within the industry. Also, Consumers’ perceptions of competing stores are collected to create perceptual maps. Strategic analysis is conducted by studying the relative positions of competing stores.     

Do as the large enterprises do?: Expatriate selection and overseas performance in emerging markets: The case of Taiwan SMEs

This study investigated the less explored expatriation practices of small- and medium-sized enterprises (SMEs) in emerging markets. Data for 133 Taiwan SMEs operating in Malaysia and Vietnam revealed that four personality traits of expatriates, i.e., control ability, independence, openness and social ability exert significant influences on overseas performance given that different types of performance require different of expatriate competency. Analytical results also indicated that the widely perceived influence of the favorable evaluation of the expatriate by top managers does not impact the overseas performance of expatriates. Further, the expatriate practices of Taiwan SMEs vary depending on cultural differences between the home country and host countries. Taken together, the findings of this study have valuable implications for both academicians and practitioners in international management.     

Fuzzy Group Decision-Making for Service Innovations in Quality Function Deployment

Since little effort has been devoted to measuring service management from epistemology perspectives, this study develops a scientific framework for its evaluation. Service management is defined as what is perceived by the tourists and decision makers during the process of service generation and delivery processes. This in turn depends on the service conditions experienced during the process and at the accommodation. The study uses fuzzy group decision-making and a Quality Function Deployment method to analyze various service evaluation criteria. It further considers the possibility of “Fuzzy Sets” in making subjective judgments, and applies a Fuzzy-based decision-making method to evaluate service management.     

More on tariffs,import quotas,and customs unions

It is known that the welfare of a small, quota-imposing country will always increase after it joins a customs union because the trade diversion effect of a customs union never arises. However, this paper shows that the welfare of a large, quota-imposing country may increase, decrease, or remain the same after it joins a customs union even though the trade diversion effect of a customs union also never arises. The offer curve approach is used in this study.