Search results

As global exchanges have listed volatility derivatives competitively, volatility has been recognized as a new investment vehicle and/or a hedging means for traditional financial assets such as stocks and bonds. Following this trend, KRX has begun to announce VKOSPI from KOSPI200 index options prices since April 13, 2009 and listed VKOSPI futures on November 17, 2014. However, VKOSPI futures has still not been activated than those listed in developed countries. In this paper, we investigate the informational efficiency of VKOSPI futures and analyze the illiquidity problem of VKOSPI futures. More specifically, we execute a VAR analysis of VKOSPI, VKOSPI futures, VIX and VIX futures to find out their lead-lag relations. In addition, we further conduct a Granger causality test, impulse response analysis and variance decomposition to examine their dynamic relations. According to the results, we find that VKOSPI leads VKOSPI futures and that VIX and VIX futures lead VKOSPI and VKOSPI futures significantly. Based on the results above, lastly, we propose several policies to make the VKOSPI futures market more active and informative.

Based on the multiple domain perspective and self-identity theory, this study aims to investigate the effect of job applicants' volunteer experience on their attraction to organizations that engage in corporate social responsibility (CSR). Moreover, it examines the mediating effect of the CSR work role definition in this relationship and proposes a moderated mediation model of how the effect of volunteer experience on organizational attractiveness through the CSR work role definition differs according to other- and self-oriented motives.

Hypotheses were tested with a moderated mediation model using a scenario-based questionnaire with a sample of 146 undergraduate students in South Korea.

Job applicants' volunteer experience was positively related to attraction to socially responsible organizations, and the CSR work role definition mediated this relationship. The conditional indirect effect of job applicants' volunteer experience on their attraction to socially responsible organizations through the CSR work role definition was significant only for job applicants with lower other- and self-oriented motives.

The study findings suggest that organizations performing CSR should examine whether job applicants have experience with volunteering activities and the motives behind their participation in such activities.

This study contributes to a comprehensive understanding of how job applicants are attracted to organizations that perform CSR and when such attraction is significant by considering their perception of the CSR work role definition and motives for volunteering activities.

It is recognized that employees’ helping and voice behaviors are dimensions of organizational citizenship behavior used by supervisors to evaluate their job performance. However, existing empirical studies of these relationships have shown inconsistent findings. From the perspective of attributional theory, the purpose of this paper is to explain when subordinates’ helping and voice behaviors are more positively related to job performance by considering supervisor-attributed prosocial and impression management motives.

Using a sample of 200 supervisors in South Korea, the authors tested the hypotheses with hierarchical multiple regression analyses.

Results indicate that the positive effects of helping and voice behaviors on job performance were stronger when supervisors attributed such behaviors as driven less by impression management motives related to self-interest. However, contrary to the expectations, the positive influences of helping and voice behaviors on job performance were stronger when supervisors perceived low prosocial motives.

Findings suggest that supervisors need to avoid making the wrong attributions with regard to their subordinates’ helping and voice behaviors during the evaluation process. In addition, subordinates need to have clear motives and demonstrate consistent behavioral stances when engaging in such behaviors.

Using social information theory and attribution theory, this study contributes to explain when helping and voice behaviors improve evaluations of employees’ job performances by considering supervisor-attributed motives.