Asymmetric Loss and the Rationality of Inflation Forecasts: Evidence from South Korea

We examine asymmetry in the loss functions of South Korean consumers' and the Bank of Korea's (BOK) inflation forecasts, and test the rationality of these forecasts under the assumption of a possible asymmetric loss function. Under an asymmetric loss function, we find evidence of asymmetry and support for rationality. We also examine whether the BOK's forecasts incorporate respective forecasts and consensus forecasts efficiently. They broadly use available information efficiently, and their results are robust to inflation‐targeting measures and the recent global financial crisis. However, our results suggest that the information efficiency of the BOK's forecasts for consumers was affected during the period 2007–2008.     

The cross‐cultural study of LMX and individual employee voice: The moderating role of conflict avoidance

This article examines the role of national culture, measured by conflict avoidance, on the relationship between leader–member exchange (LMX) and individual employee voice. Using data collected from automotive industry employees in the United States and Korea, the findings show that conflict avoidance is negatively related to employee voice and also moderates the relationship between LMX and employee voice in the Korean sample. In particular, the relationship between LMX and voice becomes less positive when conflict avoidance is high. On the other hand, conflict avoidance does not have a direct effect on employee voice as well as an interactive effect with LMX on employee voice in the U.S. sample. This study, therefore, highlights the importance of the national culture in the comparative study of employee voice.     

Are You a Chocolate Lover? An Investigation of the Repurchase Behavior of Chocolate Consumers

This study aimed to understand the factors affecting repurchase behavior of chocolate brands and, consequently, customer retention and acquisition. The study adopted a qualitative, inductive approach using in-depth interviews with 31 Australian consumers. The factors identified in the extant literature as antecedents of customers’ repurchase intention in the chocolate industry, including brand recognition, sales promotion, product price value, variety, taste, texture, size, packaging, and customer satisfaction, were confirmed. The results also indicated that functional value, product selection value, self-gratification value, socialization value, and transactional value were also considered during the consumer decision-making process. Implications for practitioners are provided.     

互联网金融规制与市场有效性改善*——来自中国网络借贷行业的证据

中国的互联网金融经历了一个先创新发展后监管规制的过程，本文通过对网络借贷行业的实证研究，分析监管规则的出台实施对新型互联网融资市场有效性的影响。实证结果表明，网络借贷平台资金的银行存管、持有ICP证等强制性规定缓解了投资者、平台企业与借款人之间的信息不对称，对克服早期平台间通过竞相承诺高回报率来吸引投资者导致的“柠檬市场”问题、对解决网贷市场上缺乏平台风险性高低有效信号的问题都起到了正向作用，有助于互联网融资市场的有效性提高。     

Uncertainty,story-telling and transformative learning: An instructor’s experience of TEFI’s Walking Workshop in Nepal

ABSTRACT

This article recounts three stories from TEFI’s walking workshop in Nepal: the construction of a road through what was once a trekking path; a dance-floor encounter at a Himalayan party; and the arrival of one participant, fatigued by jet lag and disoriented by the new surroundings. These stories of confusion, discomfort and fear are linked by one common theme: the potential of uncertainty to foster deep reflection and nuanced conclusions. The premise that uncertainty is to be valued and even cultivated has been explored in educational theory, spiritual traditions, and research on transformative learning. These sources affirm the role of uncertainty in the process of knowledge creation. However, accepting this role can be challenging for educators because it requires they assume a new identity, one which they may perceive as being at odds with their status as “teacher” the identity of learner. One way for the educator to address this challenge may be through recounting their own stories of uncertainty. Stories of being immersed in unfamiliar situations that challenge, confuse and even frighten – stories, in other words of being a tourist – can foster reflection on an intellectual, emotional and spiritual level, engaging the “whole” person, and thus initiating the educator/learner’s transformative journey.     

The Short-Selling Hypothesis of Weekend Effect and T + 1 Trading Mechanism

Asia-Pacific Financial Markets - Utilizing a difference-in-difference regression model, we conduct cross-sectional and time-series analysis to explore effect of short sales on the weekend effect in...     

中小企业产权制度变迁中财务治理机制的动态选择

产权作为一切经济制度的基石,对企业的经济行为起约束作用,财务治理作为一项经济管理活动必然受到产权制度的制约。中小企业在其成立和发展过程中应根据其发展的不同时期和阶段的产权特点来动态地选择合理的财务治理机制,以提高企业财务治理的效率。     

生命周期评价方法及其应用

介绍了生命周期评价的目的、意义和基本方法，并运用该方法对燃煤发电、废纸造纸、废旧塑料气化发电等几种不同工业过程的环境影响进行了分析。     

对西部特色农业结构调整的思考

西部开发战略的重要内容之一,就是开发西部特色农业,而开发西部特色农业首先要搞好农业结构调整.农业结构调整的内容有:农产品品种结构、农业生产内部结构、农产品加工转化增值和食粮主产区域结构的调整.农业结构调整也要注意一些问题,趋利避害,从实际出发,因地因时制宜,把握全局,平稳进行.     

跨国垄断在中国:现状、影响及规制

该文通过统计数据和案例分析认为跨国垄断已经在中国发生，并指出存在着两种不同类型的跨国垄断，即跨国企业整体垄断某个行业和单个跨国企业垄断整个行业；进而分析了两种不同形态的垄断对经济造成的不良影响。最后，探讨了如何防范和规制跨国垄断，认为防范跨国垄断要从多方面着手，除了最重要的竞争政策手段以外，还必须在反垄断法中加强对跨国垄断的规制。