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The most commonly observed risk averse behavior in the commercial real estate market is loss aversion on the part of investors; i.e., investors are more sensitive to prospective losses than to prospective gains. This observation leads to the natural question : Does the market rationally anticipate investors' loss aversion? If not, then does loss aversion become stronger in a relatively illiquid market? The answer to these questions provides strategically important implications to institutional investors. We propose to explore the impact of loss aversion on the commercial real estate market by testing two competing hypotheses : (1) the rational market expectation hypothesis and (2) the liquidity spiral hypothesis. The rational market expectation hypothesis holds that the market rationally anticipates investors' behavioral loss aversion. As a result, the interaction between lagged market liquidity and loss aversion does not have an impact on the probability of property sales. On the other hand, the liquidity spiral hypothesis holds that the interaction between market liquidity and loss aversion has an impact on the probability of property sales due to the self-fulfilling feedback effect between loss aversion and market liquidity. In the context of REITs' property transactions, we find partial evidence for the liquidity spiral hypothesis : private market liquidity and stock market liquidity each has an additional impact on the sale probability of property.

The purpose of this paper is to examine how employees’ perceptions of corporate social responsibility (CSR) influence their work engagement (WE), innovative behavior (IB) and intention to stay (IS) with their company, to illuminate the role of CSR at the individual employee level.

The data for this study are responses of 455 employees to an online survey at the largest travel company in South Korea. Confirmatory factor analysis and structural equation modeling in Mplus 7.3 are used to analyze the data.

Results show that employee perceptions of CSR regarding customers and employees significantly and positively influence their WE, which in turn positively influence their IB and IS. Moreover, WE mediates these relationships.

Results of this study may not represent the entire travel industry or the country. This study’s model should be tested in other companies and countries. Additionally, longitudinal studies will help understand how employees’ perceptions of CSR and their effects on work attitudes and behavior change over time.

CSR can be an important tool for developing social capital within an organization by increasing employees’ engagement at work. Higher WE can help employees exert more efforts toward their company’s innovation and stay longer with their company, which can contribute to the company’s performance and competitiveness.

This study develops and empirically tests a theoretical model based on various disciplines. It extends existing CSR studies by examining the effects of CSR on WE and the mediation effects of WE, which have been rarely explored. This further explains how CSR influences employees’ attitudes and behavior that benefit a company’s competitive advantage to shed light on the resource-based view about employees being an important resource.

This exploratory study uses a punctuated equilibrium paradigm (PEP) framework to examine the impact and adaptation of an entrepreneurial ecosystem (EE) to the COVID-19 pandemic at the organizational and ecosystem level. The aim is to provide guidance to EEs on ways to adapt to future external shocks.

As this study is exploratory in nature, the authors use a sequential mixed method whereby a qualitative method is used first to identify emergent themes from in-depth interviews with EE members, followed by a quantitative method (survey) based on those themes across a broader cross section of EE members.

Entrepreneurial ecosystem’s geographical advantages have declined during the pandemic as EE firms adapted to this external shock by developing more digitally distributed organizations.

Based on the findings, the authors propose an emerging model of EEs that extends the traditional clustering model focused on geography to account for more digitally distributed entrepreneurial clusters. However, the results, based on an in-depth study of one ecosystem, may not be fully generalizable to all EEs.

Given the widespread pandemic impact, the findings may be instructive to EEs and organizations in EEs that aim to become more resilient in the face of potential future external shocks.

As part of the qualitative interview process the interviewees were asked what they would change in San Francisco Bay Area if they had a magic wand right now. They discussed a variety of inspiring ideas, but the most frequently mentioned was their wish to change the focus of business to solve societal problems with a global citizen mindset (e.g. recycling energy, climate change, income inequality, access to education and funding, inequity, wealth gaps, housing crisis and homelessness) to make the world a better place. Additionally, the pandemic exposed some inequality in work conditions across demographics. As firms reorganize to increase resiliency, attention to these issues should be addressed.

This study is unique in applying the PEP to EEs to deepen our understanding about how an EE evolves during periods of sudden external shocks.

This study aims to investigate customers’ churning out of Internet Protocol Television (IPTV) service, one of the most prevalent forms of IT convergence.

Based on the review of current literature, a research model is introduced to depict the effects of select independent variables on customer churning behavior. First of all, the two groups are compared in terms of predictor variables, including switching barriers, voice of customer (VOC), membership period and degree of contents usage. Then, a curvilinear regression was applied to understand the association relationship between the level of IPTV contents usage and variables of switching barriers, VOC and membership period. Third, a logit regression was performed to predict customer churning through the variables of switching barriers, VOC, membership period and level of IPTV contents usage.

Through the empirical analysis, this study analyzed the factors affecting customer churning behavior of IPTV service providers based on switching barriers, VOC and contents usage.

Although several studies on IPTV have been undertaken globally, they have largely depended on self-reporting surveys to examine dynamics between antecedent variables and IPTV performance in terms of customer satisfaction, usage intension and customer retention. This empirical study is performed to understand influential factors of IPTV service defection through the weblog analysis of 3,906 service users, who represented both service defectors and non-defectors during a specific month.