The purpose of this paper is to provide implications for forecasting export of Korean shipbuilding industry that is suffering from deadlock in newbuilding orders, by investigating…
Abstract
Purpose
The purpose of this paper is to provide implications for forecasting export of Korean shipbuilding industry that is suffering from deadlock in newbuilding orders, by investigating the causal relationship between freight rate earnings and newbuilding orders in the shipbuilding market.
Design/methodology/approach
Using a sample of freight rate earnings and newbuilding orders (in various terms) over the period 1996-2016, Granger causality between the two variables are examined in a vector autoregressive (VAR) model. In addition, the potential asymmetry of the causal relationship according to bullish and bearish market conditions is also investigated using a combination of moving averages of different time spans.
Findings
The results indicate a uni-directional causality running from freight rate earnings to newbuilding orders. This finding implies that shipowners’ confidence in the shipping freight market is particularly important determinants in their newbuilding investment, which is consistent with the overconfidence hypothesis. However, the causality does not vary according to different market conditions.
Research limitations/implications
This study offers several importation contributions. First, the authors provide evidence that newbuilding orders are positively associated with increase in freight rate earnings. Second, the authors document a causality running from changes in freight rate earnings to the volume of newbuilding orders. These findings support the theoretical expectation of the overconfidence hypothesis. Third, contrary to the findings in the financial market, there is no asymmetric response of the volume of newbuilding orders in bullish and bearish markets. Fourth, this study provide implications for management of Korean shipyards by providing evidence on driving force of newbuilding investment decisions of their customers (shipowners).
Practical implications
The findings in this study suggest implications for management of Korean shipyards by providing evidence on driving force of newbuilding investment decisions of their customers, as well as determinants of shipbuilding export, an important source of Korea’ national income.
Social implications
The analysing the major determinants of shipbuilding exports, the findings in this study presents understanding of market cycles in shipbuilding, an important source of Korea’s national income and balance of payment.
Originality/value
This study is the first attempt to analyse the relationship between freight rate earnings and newbuilding investment in the context of the behavioural theory in economics.
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This paper investigates the announcement effect of shipping sale-and-leaseback (SLB) transactions. As an emerging source of financing, a growing deal of interest has been paid to…
Abstract
Purpose
This paper investigates the announcement effect of shipping sale-and-leaseback (SLB) transactions. As an emerging source of financing, a growing deal of interest has been paid to the SLB. However, little is known about a variety of aspects of SLB transactions in the shipping industry. In this regard, this study examines the stock market reaction to the SLB announcements of shipping firms and their impact on shareholders' wealth.
Design/methodology/approach
A sample of 15 shipping SLB deals commenced by publicly listed Korean shipping companies during 2009–2023 are examined in this research. The announcement effect is measured by abnormal returns (AR) of their stocks based on the event study analysis.
Findings
It is found that the AR on the shipping SLB announcement date is, on average, −0.84% while there is no statistical significance. However, the results indicate that shareholders of shipping companies engaging in large-sized SLBs can experience positive AR around the announcement date.
Originality/value
This study is the first attempt to investigate the announcement effect of SLB transactions on the shipping industry and their impact on shareholders' wealth. The findings in this research can offer implications for the financing decisions of shipping companies and investment decisions of stock investors.
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Tae-Yeol Kim, Brad Gilbreath, Emily M. David and Sang-Pyo Kim
The purpose of this paper is to test whether self-verification striving serves as an individual difference antecedent of emotional labor and explore whether various emotional…
Abstract
Purpose
The purpose of this paper is to test whether self-verification striving serves as an individual difference antecedent of emotional labor and explore whether various emotional labor tactics acted as mediating mechanisms through which self-verification striving relates to employee outcomes.
Design/methodology/approach
The sample used in this paper consisted of supervisor–subordinate dyads working in six hotels in South Korea and used multi-level analyses and the Monte Carlo method to test the research hypotheses presented in this paper.
Findings
Self-verification striving was positively and directly related to job performance as well as two out of three forms of emotional labor (i.e. the expression of naturally felt emotions and deep acting). Self-verification striving also indirectly related to job satisfaction through the expression of naturally felt emotions and indirectly related to job performance through deep acting.
Practical implications
The findings of this paper suggest that organizations should consider self-verification striving as an employment selection criterion and provide training programs to help their customer service employees engage in appropriate types of emotional labor.
Originality/value
This paper is the first to explore the underlying mechanisms through which self-verification striving relates to employee outcomes. It also empirically bolsters the notion that expressing naturally felt emotions is an important means of authentic self-expression that positively contributes to job satisfaction. Further, the authors found that self-verification striving positively relates to job performance partially through deep acting. Moreover, they have shown that self-verification striving, as an individual differences variable, is an antecedent of different types of emotional labor.
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Maksim Godovykh, Robin M. Back, Diego Bufquin, Carissa Baker and Jeong-Yeol Park
This study aims to explore the influence of different types of cleanliness information provided on the Airbnb platform (hosts’ sanitation labels, Airbnb cleaning protocol and…
Abstract
Purpose
This study aims to explore the influence of different types of cleanliness information provided on the Airbnb platform (hosts’ sanitation labels, Airbnb cleaning protocol and previous guests’ reviews) on guests’ trust and behavioral intentions.
Design/methodology/approach
This study uses an online scenario-based experimental design. A two-step approach was applied to discover the proposed relationships by assessing the measurement model fit and validity of the constructs with confirmatory factor analysis and testing study hypotheses with structural equation modeling.
Findings
The results demonstrate that three types of cleanliness information (i.e. provided by Airbnb’s hosts, platform and customer reviews) had statistically significant effects on customers’ trust and behavioral intentions.
Practical implications
The research results provide practical recommendations for Airbnb hosts and peer-to-peer accommodation platforms on using several types of textual and visual cleanliness information to influence guests’ attitudes and behavioral intentions.
Originality/value
This study advances knowledge by introducing new factors affecting guests’ trust and behavioral intentions in peer-to-peer accommodation settings and differentiating the effects of different sources of cleanliness information and different types of guests’ trust.
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Vishal M. and Satyanarayanan K.S.
This paper delineates a literature review on fire-induced progressive collapse on structures and the effect of high temperature on structures and elements. After the occurrences…
Abstract
Purpose
This paper delineates a literature review on fire-induced progressive collapse on structures and the effect of high temperature on structures and elements. After the occurrences of fire in the World Trade Center in the USA, the researchers started concentrating on the progressive collapse that happens due to high temperature. Currently, most of the researchers are working on fire-induced progressive collapse on structures using high-temperature behavior on materials which are used for construction. The researchers have been doing an intensive study to find a better strategy to prevent the building from structural fire damage or collapse with available codes and guidelines throughout the world. This paper aims to provide a better understanding and analytical solutions on the basis of the recent works done by researchers in fire-induced progressive collapse and methods adopted to find the collapse mechanism.
Design/methodology/approach
This paper is written by studying different literature papers of 109 related to progressive collapse on structures and fire-induced progressive collapse.
Findings
The behavior of structures due to high temperature and collapse conditions due to fire in different scenarios is identified.
Originality/value
This paper fulfills an identified need to study how the structure can withstand high-temperature conditions in our day-to-day lives.
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This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93…
Abstract
This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93) regime, in which Korea struggled for fundamental reforms of the earlier centrally controlled state system through economic rationalization and labor flexibilization. During that juncture of Korean history, neo‐liberalization under the influence of Fordian decline was a governing theme behind the Korean economy's policy formation as well as labor agenda. This reliance of government on the neo‐liberal pillar has made an impact on the subsequent leaderships under Young Sam Kim (1993–1998) and Dae Jung Kim (1998‐present). After briefly reviewing the major aspect of Korean economy and labor problems surrounding the financial crisis of East Asia around 1998, the international influence of Fordian decline and neo‐liberalization as a Korean alternative has been discussed.
Seung-Hyun Han, Dong-Yeol Yoon, Boyung Suh, Beixi Li and Chungil Chae
This paper aims to study the effects of perceived organizational support (POS) on employees’ knowledge sharing intention (KSI). More specifically, this study examined whether…
Abstract
Purpose
This paper aims to study the effects of perceived organizational support (POS) on employees’ knowledge sharing intention (KSI). More specifically, this study examined whether these effects are moderated by job characteristics (JCs) and are mediated by organizational citizenship behavior (OCB).
Design/methodology/approach
Data for 426 employees were collected via an online questionnaire from four IT companies in South Korea. Combined effects in the variable set were analyzed using conditional process analyses (Hayes, 2013).
Findings
The results indicate that POS positively affects OCB and KSI, and that JCs moderate the relationship between POS and OCB. Also, the relationship between POS and KSI is mediated by OCB, and the hypothesized moderated mediation model is confirmed.
Originality/value
This study is novel in empirically establishing how employees’ KSI is affected by POS as an integrative construct bringing together JCs and OCB. This paper intends to fill a methodological gap and nurture future research by adopting conditional process analyses assessing whether JCs moderate the relationship between POS and OCB and mediate the effects of OCB on KSI.
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Jongwon Lee, Jihye Park, Jeong-Yeol Park and Robin M. Back
This study presents a bibliometric analysis of hospitality and tourism literature related to the COVID-19 pandemic, categorizing the pandemic into five phases: inception, growth…
Abstract
Purpose
This study presents a bibliometric analysis of hospitality and tourism literature related to the COVID-19 pandemic, categorizing the pandemic into five phases: inception, growth, maturity, endemic and new normal.
Design/methodology/approach
Using the Web of Science database, 2,485 publications from Q1 and Q2 journals of the SCImago Journal and Country Rank, published from January 2020 to July 2024, were analyzed. Advanced bibliometric techniques, including co-word analysis and structural topic modeling, were employed to trace research trends and theoretical frameworks.
Findings
The study identifies key publications, authors and affiliations. It also highlights evolving research themes across different pandemic phases. The analysis reveals a dynamic shift from immediate impacts to recovery, resilience and sustainability. The study also discusses the diverse theoretical approaches used to understand pandemic-related behaviors, emphasizing the importance of health and risk theories.
Practical implications
Findings point to ways in which businesses may adapt and diversify their business models to be more resilient to future health-related crises. The findings further emphasize the importance of promoting sustainable and responsible tourism practices, as well as supporting employee well-being.
Originality/value
The findings offer valuable insights for future research and practical implications for the hospitality and tourism sectors in preparing for potential future pandemics by reviewing the entire progress of the pandemic.
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Ho Yeol Yu, G. Matthew Robinson and DongHun Lee
This study was conducted to examine the effect of co-branding, a brand partnership tactic involving two or more brands, on consumer behavior within the sport industry. As such…
Abstract
Purpose
This study was conducted to examine the effect of co-branding, a brand partnership tactic involving two or more brands, on consumer behavior within the sport industry. As such, the primary aim was to examine differences regarding consumers' perceptions of self-image congruence and perceived product quality when considering solo-branding and co-branding conditions. Further, under the co-branding condition, relationships among consumers' self-image congruence, perceived product quality, image fit, product evaluation and purchase intention were investigated.
Design/methodology/approach
A scenario-based quasi-experiment consisting of hypothetical co-branding initiatives between existing brands was conducted.
Findings
Results from a repeated multivariate analysis of variance (MANOVA) indicated that consumers' symbolic and functional perceptions of co-branding as well as evaluations were statistically higher than in the solo-branding condition. Additionally, structural equation modeling indicated positive relationships between consumers' symbolic and functional perceptions, image fit, evaluation and behavior intention.
Originality/value
This study is one of the first papers to investigate the impact of co-branding on consumers within the sport industry and provides evidence of the positive impact of co-branding strategies on consumer behavior within the sport industry.