After a half century in seclusion from the Western world, North Korea is in slow transition to an open market economy. This change presents oppor‐tunities to multinationals in…
Abstract
After a half century in seclusion from the Western world, North Korea is in slow transition to an open market economy. This change presents oppor‐tunities to multinationals in the. Korean peninsula, the U.S. and elsewhere, but creates a dilemma for their government policymakers. North Korea is improving regional stability and has an affordable labor force that is attractive to contract manufacturers, retail goods importers, and large turnkey project contractors. The country holds a promising market, possesses abundant undeveloped natural resources, and offers a strategic location for transportation savings. The study stresses the significance of North Korea in the global marketplace.
Sang T. Choe and Kelly D. Huff
North Korea is moving in the direction of an open market as China did a generation ago. With a substantial population of 22 million, the country has abundant natural resources and…
Abstract
North Korea is moving in the direction of an open market as China did a generation ago. With a substantial population of 22 million, the country has abundant natural resources and an affordable labor force that are attractive to contract manufacturers, importers of retail goods, and contractors of large turnkey projects. North Korea's strategic location in the Far East offers enormous savings in transportation cost for multinational firms wishing to ship goods to Southeast Asia and Europe. Five reasons to do business with North Korea are analyzed in the report.
Sang T. Choe and Glenn A. Pitman
South Korea has emerged as one of the most prosperous markets onthe globe. Its high economic growth rate and rising householdconsumption indicate that many sectors of the economy…
Abstract
South Korea has emerged as one of the most prosperous markets on the globe. Its high economic growth rate and rising household consumption indicate that many sectors of the economy are ready to absorb foreign investment. Describes some key aspects of Korean culture and how to conduct business with Koreans to help executives who are responsible for international operations, investment, joint ventures, and global marketing activities. Stresses the importance of personal relationships with Koreans, based on trust and respect; and recognition of Koreans as unique orientals.
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Henry W. Vanderleest and Sang T. Choe
Undergraduate students contemplating a career in international business often ask questions such as: Are certain majors preferred? What about language training requirements…
Abstract
Undergraduate students contemplating a career in international business often ask questions such as: Are certain majors preferred? What about language training requirements, on‐the‐job training programs, and new job responsibilities? Experience indicates that academic advisors and faculty frequently cannot provide students with appropriate information regarding these topics. Thus the above questions and others were posed to top level executives at 100 large U.S. multinational firms. This article discusses what respondents believe to be important academic requirements and what graduating seniors can expect in entry‐level jobs. Special attention is given to strategies that students can follow to gain a competitive edge when competing for their first job in international business.
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Sang T. Choe, Suk‐Hi Kim and Hyun Jeong Cho
In the first years following the Korean War (1950‐1953), the centrally‐directed economy of North Korea had been larger in per capita income and had grown more rapidly than the…
Abstract
In the first years following the Korean War (1950‐1953), the centrally‐directed economy of North Korea had been larger in per capita income and had grown more rapidly than the more loosely‐controlled economy of South Korea. However, in the absence of rational and strategic economic planning, these advantages soon reached their limits. By the mid‐1970s, South Korea’s two successful five‐year economic plans put it ahead of North Korea. Loss of allies in the early 1990s, consecutive floods in 1995 and 1996, and a severe drought in 1997 caused the North Korean economy to shrink in the 1990s. Thus, while North Korea had gradually reformed its troubled economic system since the early 1990s, these measures were different from market‐oriented reform. However, in July 2002, North Korea began to introduce the most significant liberalization measures since the start of Communist rule in 1948 (French, 2002). This paper discusses the performancde of North Korean foreign trade and offers suggestions for steps toward globalization to be taken by the country.
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Sang T. Choe, Glenn A. Pitman and Frances D. Collins
Investigates the impact of retail customers’ attitudes towards local retail establishments and their impact on local retail trading behaviour. Heads of 206 households were…
Abstract
Investigates the impact of retail customers’ attitudes towards local retail establishments and their impact on local retail trading behaviour. Heads of 206 households were interviewed by telephone in two separate Indiana towns, each located approximately 55 miles from a major metropolitan trading area. Findings indicate there is strong positive correlation between the attitudes of consumers and local economic performances. Poor attitudes of consumers towards local business resulted in a higher percentage of income spent outside the community, which may reduce the growth of local business and employment opportunity. The unemployment rate of the community with positive attitudes was 2.2 per cent compared to 7.5 per cent of the community with negative attitudes. Suggests that small businesses and local retailers should have a concept of competition and provide service and satisfaction to the customer, instead of sitting back and being complacent.
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Aishanee Sinha and Taniya Ghosh
This chapter examines the impact of uncertainty about economic policy on the foreign direct investment (FDI) inflows in India. Uncertainty over domestic and international economic…
Abstract
This chapter examines the impact of uncertainty about economic policy on the foreign direct investment (FDI) inflows in India. Uncertainty over domestic and international economic policy adversely affects the international flow of goods, services, and investment. FDI is one of the most stable type of capital flows. FDI is considered to be more sensitive to policy uncertainty because higher fixed costs are involved in FDI than other types of capital flows. The authors estimate the impact of economic policy uncertainty on FDI inflows in the short and long run for India. The results of this study show that the policy uncertainty has a higher impact on FDI inflows in the long run than in the short run. It is known that FDI and GDP growth are positively related. Thus to attract more FDI inflows it is desirable to have predictable policies.
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Bochra Nourhene Saguem, Marwa Gharmoul, Amel Braham, Selma Ben Nasr, Sang Qin and Patrick Corrigan
This study aims to examine the reliability and validity of the Arabic version of the attribution questionnaire (AQ).
Abstract
Purpose
This study aims to examine the reliability and validity of the Arabic version of the attribution questionnaire (AQ).
Design/methodology/approach
The AQ is designed to assess attitudes, affects and behavioral intentions related to a hypothetical person diagnosed with schizophrenia. The original English version was translated into Literary Arabic. A total of 310 students registered in different universities, with medical and paramedical establishments excluded completed the Arabic version of AQ. Reliability was tested using Cronbach’s alpha coefficients. Structural equation modeling was used to test hypothesized paths. Correlations among exogenous (e.g. responsibility) and endogenous (e.g. help) variables in the path were examined. Fit indicators were then examined for equations that were identified.
Findings
The results revealed that the Arabic version of AQ showed acceptable psychometric properties in the assessment of stigma in the Tunisian population. All factors of this Arabic version showed Cronbach’s alpha values equal to or greater than 0.72. Structural equation models for the responsibility and dangerousness models were mostly supported. The Arabic version of AQ is valid and reliable for the assessment of stigma in Tunisian and Arabic-speaking populations.
Practical implications
The Arabic version of AQ may be used to promote research on stigma toward people with mental illness in larger and more representative Tunisian and Arabic-speaking populations, which will help to further address the complex and multifaceted phenomenon of stigma toward people with mental illness.
Originality/value
This is the first validated stigma measure in the Tunisian socio-cultural context.
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This paper explored the new features of emerging stock markets, in order to point out the most associated indicators of increasing stock return volatility, which may lead to…
Abstract
This paper explored the new features of emerging stock markets, in order to point out the most associated indicators of increasing stock return volatility, which may lead to instability of emerging markets. The study covers a sample of five geographical areas of emerging economies, including Mexico, Korea, South Africa, Turkey, and Malaysia. It used the backward multiple‐regression technique to examine the relationship between monthly changes of stock price indices as dependent variable and the associated predicting local as well as international variables, which represent possible causes of increasing price volatility and initiating crises in emerging stock markets. The study covered monthly data for a period of forty‐eight months from January 1997 to December 2000. The study revealed that stock trading volume and currency exchange rate respectively represent the highest positive correlation to the emerging stock price changes; thus represent the most predicting variables of increasing price volatility. International stock price index, deposit interest rate, and bond trading volume were moderate predicting variables for emerging stock price volatility. While changes in inflation rate showed the least positive correlation to stock price volatility, thus represents the least predicting variable.
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Jong-Hyeong Kim, Yuchen Xu and Seongseop (Sam) Kim
In a reflection of individuals’ interest in maintaining a healthy lifestyle, nutraceutical restaurants, which provide health benefits, have emerged on the market. However, little…
Abstract
Purpose
In a reflection of individuals’ interest in maintaining a healthy lifestyle, nutraceutical restaurants, which provide health benefits, have emerged on the market. However, little is known about the underlying factors and mechanisms of the consumption of nutraceutical foods. Therefore, grounded in an extended cognitive–affective–conative model, this study examines the role of dining motivations and restaurant attributes in explaining an integrated model that focuses on customers’ loyalty formation process.
Design/methodology/approach
Data were collected from 893 Chinese customers who had recently dined at traditional Chinese medicine restaurants. Using partial least squares structural equation modeling, this study examined the structural relationships among dining motivations, restaurant attributes, customers’ perceived benefits, overall satisfaction, place attachment and revisit intentions.
Findings
The results of a confirmatory factor analysis revealed that two main motivations (i.e. health and traditional culture) and five restaurant attributes (i.e. food, service staff food recommendation, service staff service quality, furniture and tableware and atmosphere) are stimuli that influence customers’ perceived benefits. This study also revealed that four types of perceived benefits (functional, emotional, social and epistemic) significantly affect overall satisfaction and place attachment, which determine revisit intentions.
Research limitations/implications
The findings of this study help identify not only important dining motivations and restaurant attributes but also their roles in loyalty formation with respect to traditional Chinese medicine restaurants. Thus, the results contribute to an improved understanding of how to satisfy customers’ dining motivations and efficiently manage restaurant attributes to strengthen customer loyalty.
Originality/value
This study is among the first to simultaneously examine the effects of customer motivation and restaurant attributes and to explain how they affect customer loyalty behaviors at traditional Chinese medicine restaurants.