Factors affecting the selection of clothes on daily basis: male and female differences

The major objective of the study was to test the theories of the function of dress that individuals apply to everyday practice. The study examined the extent to which Maslow's theory of motivation is relevant to male and female practice regarding the selection of daily clothes, the order of importance and the attention to clothing functions demonstrated by males and females, and the inter-relationship between the different clothing functions. The study is based on data collected from male and female students at a midwestern university in the month of April. The Friedman two-way ANOVA by ranks revealed that weather function was the single most important clothing function for males which influenced the selection of daily clothing, while social activity was the most important clothing function which influenced females. Females indicated a higher degree of consideration of each clothing function than males. These findings suggest that females tend to dress more for social reasons, are more sensitive to clothing needs and possess a greater degree of clothing awareness than males. The correlation coefficients of clothing function for males and females indicated that there was a high degree of correlation between several clothing functions. The correlation coefficients of clothing functions for females were more consistent than those for males, indicating that females consistently consider several clothing functions concurrently while males do not. This finding conforms with the theory of functions of dress which illustrates the multiple nature of motivation of clothing behaviour and the interdependent characteristics of Maslow's five basic human needs.     

CLOTHING PRACTICES OF KOREAN FEMALE IMMIGRANTS IN CHICAGO

The relationship between the process of cultural assimilation reflected in the clothing practices of Korean female immigrants and their pre-immigration and post-immigration factors were investigated. This was done by examining the relationships between frequency of wearing western dress over Korean traditional dress, the rate of transition from Korean made dress to American dress, and Korean female immigrants’ pre-immigration and post-immigration factors. The data were collected from 219 Korean female immigrants in Chicago during the summer of 1978. The regression analysis revealed that the frequency of usage of western dress over Korean traditional dress was more significantly related to the pre-immigration factors than the post-immigration factors. The transition from Korean made dress to American dress was found to be more significantly related to the post-immigration factors than the pre-immigration factors. This finding suggests that the sudden change of cultural environment has a definite impact on the abandonment of Korean traditional dress and transition from Korean made western dress to American dress. The finding also leads to the conclusion that the usage of traditional dress is more affected by the nature of occasions, special versus non-special, than the difference of social contacts between Korean and American.     

Informativeness of Annual Reports for Firms in Financial Distress*

Abstract. This article reports the results of an investigation into the informativeness of financial communications with shareholders when the level of market uncertainty regarding future firm performance varies. Specifically, it is hypothesized that the informativeness of annual reports is positively associated with the level of market uncertainty. The informativeness of annual reports is measured by the extent of price reaction, regardless of direction, at the time of disclosure. To obtain a sample of firms with temporal variation in the level of market uncertainty, the article investigates firms nearing financial distress. Financial distress is represented by the firm's receipt of a going-concern audit report from the external auditor. Time periods immediately preceding receipt of the going-concern report are presumed to exhibit changing market uncertainty regarding future firm prospects. The empirical evidence is consistent with the article's hypothesis in that price reactions to annual reports systematically vary the nearer the firms are to financial distress. Specifically, price reactions to annual reports for the three years preceding distress are more than 35 percent larger than the price reactions to reports from earlier periods. This evidence is consistent with the informativeness of financial disclosures being dependent on the level of market uncertainty and advances our understanding of the usefulness of accounting disclosures to market participants. To the extent that accounting regulatory agencies are interested in environmental factors that determine the usefulness of accounting information to shareholders, this article offers evidence on one important factor. Résumé. Les auteurs exposent les résultats d'une analyse du contenu informationnel des renseignements financiers communiqués aux actionnaires lorsque varie le degré d'incertitude du marché relativement aux perspectives de rendement d'une entreprise. Ils posent plus précisément l'hypothèse selon laquelle le contenu informationnel des rapports annuels est en relation positive avec le degré d'incertitude du marché. Le contenu informationnel des rapports annuels est mesuré en termes d'importance de la réaction du cours des actions, peu importe l'orientation, au moment de la communication des renseignements financiers. Pour constituer un échantillon d'entreprises à l'égard desquelles le degré d'incertitude du marché a varié dans le temps, les auteurs ont choisi d'analyser des entreprises sur le point de connaître des difficultés financières. La réception, par l'entreprise, d'un rapport des vérificateurs externes mettant en question la continuité de l'exploitation témoigne de ces difficultés financières. Les auteurs posent l'hypothèse selon laquelle on enregistre, au cours des exercices qui précèdent immédiatement la réception d'un rapport de cette nature, une variation du degré d'incertitude du marché relativement aux perspectives d'avenir de l'entreprise. Les constatations empiriques confirment l'hypothèse formulée, en ce sens que la réaction du cours des actions à la publication des rapports annuels varie de façon systématique lorsque les entreprises se rapprochent des difficultés financières. Plus précisément, la réaction du cours des actions à la publication des rapports annuels pour les trois exercices précédant les difficultés financières est plus de 35 pour cent supérieure à la réaction du cours des actions à la publication des rapports des exercices antérieurs. Cette constatation vient confirmer le fait que le contenu informationnel des renseignements financiers publiés dépend du degré d'incertitude du marché, et elle nous permet de mieux comprendre l'utilité de la publication d'information comptable à l'intention des participants au marché. Dans la mesure où les organismes de réglementation comptable sont intéressés aux facteurs liés à l'environnement qui déterminent l'utilité de l'information comptable pour les actionnaires, les auteurs nous permettent d'acquérir certaines certitudes à l'égard d'un facteur important.     

Consumers’ Use of Credit Cards: Store Credit Card Usage as an Alternative Payment and Financing Medium

This paper investigates consumers’ use of store-issued credit cards with particular attention to their function as an alternative payment and financing medium. Using 1998 Survey of Consumer Finances data, the researchers found that credit availability through bankcards is negatively correlated with consumers’ use of store cards as a financing medium, suggesting the role of store cards as a supplementary credit line. A negative relationship is also found to exist between consumers’ bankcard usage and their use of store cards for a transaction purpose, indicating that store cards function as a substitute payment medium. Consumers’ usage of store cards varies according to function and is related to a number of variables, including the use of bank cards, credit history, attitude toward credit, income, education, and ethnicity.     

Credit Market Frictions and Coessentiality of Money and Credit

We explore how credit market frictions matter for the coessentiality of money and credit. Limited commitment calls for credit limits that are tailored according to borrowers' productivity. Under an adverse selection problem caused by asymmetric information, however, lenders impose the credit limit of the low-productivity borrower onto the high-productivity borrower. If productivities differ sufficiently between borrowers, the high-productivity borrower is credit-constrained and is willing to hold money to compensate for the deficiency of their credit limit, whereas the low-productivity borrower is not. This implies the coessentiality of money and credit in the sense that their simultaneous use improves welfare.     

Human Resource Management’s Effects on Firm‐Level Relative Efficiency

Using stochastic frontier production functions methodology with data from 1579 private‐sector establishments, we demonstrate that HR practices are significantly associated with differences in relative firm‐level efficiency. Supplemental analysis implies that this efficiency analysis is substantively different than the common approach to evaluating HRM’s relationships with firm‐level labor productivity. The results suggest that HR practices’ contributions to relative firm‐level efficiency are an important but heretofore overlooked factor in the relationship between HRM and firm performance.     

Ordinal Pairwise Partitioning (OPP) Approach to Neural Networks Training in Bond rating

Statistical classification methods such as multivariate discriminant analysis have been widely used in bond rating classification in spite of the limitations of the methodology. Recently, neural networks have emerged as new methods for business classification. This approach to neural networks training is to categorize a new instance as one of the predefined bond classes. Such a conventional approach has limitations in dealing with the ordinal nature of bond rating. In addition, most of the prior studies have used sample data which are evenly divided among the classes. However, the natural population in real application is usually unevenly divided among the classes. Under such circumstances, it is hard to achieve good predictive performance. As the number of classes to be recognized increases, the predictive performance decreases. In this article, to increase the predictive performance in real-world bond rating, we propose the ordinal pairwise partitioning (OPP) approach to backpropagation neural networks training. The main idea of the OPP approach is to partition the data set in the ordinal and pairwise manner according to the output classes. Then, each backpropagation neural networks model is trained by using each partitioned data set and is separately used for classification. Experimental results show that the predictive performance of the proposed OPP approach can be significantly enhanced, when compared to the conventional neural networks modeling approach as well as multivariate discriminant analysis. The OPP approach has two computation methods, and we discuss under which circumstances one method performs better than the other. We also show the generalizability of the OPP approach. © 1997 by John Wiley & Sons, Ltd.     

韩国独立空间的终局Ⅰ

2009年3月30日是一个特别的日子。韩国当代艺术的第一家独立空间Ssamzie Space关闭了。最后的晚上,Ssamzie空间有个内部的表演和酒会,这些活动是欢庆自己前10年的贡献。Ssamzie空间的参展艺术家,策展人和入驻艺术家(artist-in-resident)一起回顾了10年的历史。如果没有他们的帮助和后援,Ssamzie空间不能做得到现在     

Discretion in Context: A Moderated Mediation Model of the Relationship between Discretion and Turnover Intentions

This paper examines the relationship between employee discretion and turnover intentions. We test the proposition that this relationship is mediated by employee stress and moderated by employee perceptions of staffing adequacy. We maintain that in assessing the potential effects of increased employee discretion, scholars must also examine the mechanisms through which these benefits are delivered, and the context in which it is provided. In an effort to study discretion in context, we develop and test a “moderated mediation” model in the healthcare setting. Our findings support the hypotheses that employee stress mediates the relationship between discretion and turnover intentions. In addition, employee perceptions of staffing adequacy are shown to moderate the relationship between employee discretion and stress.