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The study seeks to examine the relationship between the implementation of the ISO 9000 quality management system and educational outcomes of schools, measured by student achievement on the state‐mandated tests and school attendance rates – graduation rates, in the case of high schools.

The study was conducted using schools in the USA that have implemented ISO 9000. The study employed the Hierarchical Linear Modeling (HLM) technique, taking into account the hierarchically nested data structure of this study.

It was found that: first, there is no relationship between ISO 9000 participation and students' learning outcomes on the state‐mandated tests – both for students in general and economically disadvantaged students in particular, across math and reading, and at all school levels; second, standardization of schooling by ISO 9000 fails to decrease the negative influence of school SES on the overall student achievement of a school; and finally, although ISO 9000 participation is not related to the students' graduation rates in high schools, it is positively associated with the students' school attendance rates in elementary and middle schools.

Given the long‐established institutional features of education such as value‐orientation, diversity, and complexity, ISO 9000, focusing on procedural standardization of classroom activities, may not work well as a quick‐fix solution to improve student learning.

The study suggests that, by helping schools become organized and thus function well in the area of essential school operations such as student and teacher attendance, ISO 9000 could positively influence school performance without threatening other important values such as teachers' professional autonomy and creativity in classrooms.

This study investigates the influence of theoretical determinants on the Korea sovereign CDS spreads from January 2007 to September 2009 based on structural credit risk model. For the analysis of determinants on the sovereign CDS spread, this study adopts interest swap rate as reference interest rate, and decomposes yields curve into two components, ie, interest level and slope. Considering multivariate regression in level and difference variables, Stock returns and Interest rates have a significant effect on the CDS spreads among the theoretical determinants of structural credit risk models. CDS spreads may behave quite differently during volatile regime compared with their behavior in tranquil regime. We therefore apply Markov switching model to investigate the possibility that the influence of theoretical determinants of CDS spread has a regime dependent behavior. In all regimes Korean sovereign CDS spreads are highly sensitive to stock market returns, whereas in tranquil regime interest rates also have influence on CDS spreads. We conclude that for the efficient hedging of CDS exposure trader should adjust equity hedge ratio to the relevant regime.

This study investigated the relationship between the CDS (credit default swap) market with the FX spot (FX swap) market, including the period of recent global financial crisis.

A measure for market efficiency is the condition that the derivative markets dominate the asset market in price discovery. In our case, however, FX market should be leading the CDS market. We found FX (spot and Derivatives) market has co-integration relationship with CDS market. Looking at Gonzalo Granger (GG) and Hasbrouck's price discovery measure, we found the FX spot and derivatives market dominated CDS market in price discovery.

This study has also examined the direction of shock spillover and volatility transmission between Korean CDS spread and Foreign exchange spot (FX swap) markets using the VECM bivariate GARCH approach. Our evidence suggested the presence of bi-directional shock volatility and volatility transmission between the CDS market and FX spot market partially exist. However, volatility spillover effects from CDS market to FX Swap market are stronger than in the reverse direction during the global financial crisis, indicating that the CDS spread signaling sovereign risk play a more important role in influencing the volatility of FX derivatives market.

There are some particular features in FX market. The volatility and shock of CIP deviations reflecting arbitrage opportunities in FX swap market are influenced by those of CDS spread in tranquil period prior to Lehman failure. But after Lehman failure CDS played a crucial role in signaling credit risk in FX derivatives market. We found that higher liquidity and trading volume of market matters more in price discovery and information transmission.

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.

The purpose of this paper is to investigate the relationship between game items and mood management to show the affective value of game items. Specifically, the study examines the impact of interaction between two negative mood states (stress vs boredom) and types of game items (functional vs decorative) on the purchasing intention of game items.

Two experiments were conducted to predict the outcomes of using game items.

Game users effectively manage their level of arousal and mood valence using game items. The selective exposure theory provides additional understanding of different purchasing behaviors, suggesting that stressed users are more likely to purchase decorative items while bored users purchase functional items to manage their mood.

The study results show the affective role of game items in mood management. While previous studies focused on the cognitive and functional aspects of purchasing game items, this study extends the value of game items as augmented products.

When launching new games, companies should provide game users free game items for mood management. In addition, to increase intervention potential and behavioral affinity, marketers need to develop and launch more game item types.

This study extends the understanding of affective value of game items by applying mood management and selective exposure theories to explain the purchase intention of game items.

This chapter discusses how the real options theory can be useful for understanding the adoption of human resources management (HRM) practices. The authors review how the real options theory has provided insights into the processes through which firms manage uncertainties involved in the adoption of HRM practices. The authors offer propositions for future HRM research from the real options perspective. The authors contend that analyzing HRM practice adoptions through the lens of real options theory can enhance our understanding of the mechanisms through which firms choose which HRM practices to adopt and how they adjust the timing, scale, and methods of investment in these practices. Specifically, the authors suggest that differences in information relevant to valuation of HRM options are the source of distinct choices of HRM options across firms. Finally, the authors propose advancing knowledge on HRM practice adoptions by using a portfolio of options approach, as well as considering factors like competitors, path dependence, and switching options.

We examine whether firms’ multinationality leads to better performance and what the role of R&D investment is in the multinationality performance linkage. Unlike the previous studies, we employ both accounting‐ and market‐based measures of firm performance for a large sample of U.S. manufacturing firms. Our results show that the empirical relation between multinationality and performance is not monotonic but varies with the phase of a firm’s multinationality, starting with a negative relation initially, followed by a positive one, and then again a negative one. This horizontal S‐shaped curvilinear relation of multinationality is more pronounced for the market‐based performance measure and is supportive of the three‐stage theory of internationalization. We also find that a firm’s multinationality is related to greater firm performance when the firm possesses R&D investment, and that the effect of R&D increases with the extent of a firm’s multinationality. These results lend strong support for the Internalization theory and the resource‐based view of firms’ international expansion. Our results are robust to different model specifications with an alternative measure of multinationality.

This paper examines dynamic return spillovers and connectedness networks among international stock exchange markets. The authors account for asymmetry by distinguishing between positive and negative returns.

This paper employs the spillover index of Diebold and Yilmaz (2012) to measure the volatility spillover index for total, positive and negative volatility.

The results show time-varying and asymmetric volatility spillovers among the stock markets under investigation. During the coronavirus disease 2019 (COVID-19) pandemic, bad volatility spillovers are more pronounced and dominated over good volatility spillovers, indicating contagion effects.

The presence of confirmed COVID-19 cases positively (negatively) affects the good and bad spillovers under low and intermediate (upper) quantiles. Both types of spillovers at various quantiles agree also influenced by the number of COVID-19 deaths.

This study aims to explore how perceived usefulness and perceived ease of use affect users' sensory experience and behavioral experience in the metaverse context, and explore the significance of building a metaverse platform for companies, and provide management enlightenment for corporate development.

Data were collected from 329 online participants and analyzed using structural equation modeling and hierarchical regression.

Perceived usefulness and ease of use have a significant influence on customer sensory experience and behavioral experience in the metaverse. Sensory experience mediates the influence of perceived usefulness and availability on behavioral experience. Social presence positively moderates the influence of both usefulness and ease of use on sensory and behavioral experience. In other words, perceived usefulness and perceived ease of use in the metaverse situation affect sensory experience through social presence, and then affect behavioral experience.

This research clarifies the effect of usefulness and ease of use on customer sensory and behavioral experience. It confirms the positive moderating role of social presence and the mediating role of sensory experience in the influence pathway between perceived usefulness, ease of use, and behavioral experience. From the perspective of management, this study provides theoretical support for the positive impact of corporate metaverse platform building on customer brand experience in the future, and provides impetus for companies to pay attention to improving the usefulness and ease of use of their metaverse platform.