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Hotels conducting international business are acknowledging the importance of an expatriate general manager (GM), to increase the effectiveness of their knowledge management system through the sharing of knowledge between expatriates and local employees. In the aspect of comparative leadership studies, this study attempts to compare and analyze the effects of knowledge sharing (KS) efforts, which are competencies of expatriate GMs and local GMs, on employee trust, organizational KS and employee loyalty.

Data were collected from employees of 7 hotels managed by expatriate GMs among 16 franchising luxury (5-star) hotels, and from employees of 6 hotels operated by local GMs among 9 local luxury hotels located in Korea. Structural equation modeling method using SmartPLS 3.3.3 was used to analyze the data.

Expatriate GM’s two-way KS influences affective trust but does not influence cognitive trust. Affective trust influences cognitive and organizational KS but does not influence employee loyalty. Cognitive trust does not influence organizational KS but influences employee loyalty. Finally, organizational KS significantly affects employee loyalty. In addition, in the analysis comparing the estimates between expatriate and local GM group, significant differences in groups were found for the impact of GM’s two-way KS on cognitive trust, for the impact of affective trust on organizational KS, for the impact of affective trust on employee loyalty and for the impact of cognitive trust on organizational KS.

This study shows that knowledge management designs need to consider different effects of expatriate GMs’ and local GMs’ capabilities on employee attitudes and behavior considering cultural impacts. Expatriate GMs will greatly benefit their effort for KS by assuring employees that they are attentive to their needs, interests and problems.

This study not only contributes to the existing social capital theory but also provides managerial implications for human resources management in the hospitality field through a comparative study of KS efforts of expatriate and local GMs.

We investigate the cross-sectional and time-series determinants of idiosyncratic volatility in the Korean market. In particular, we focus on the empirical relation between firms’ asset growth rate and idiosyncratic stock return volatility. We find that, in the cross-section, companies with high idiosyncratic volatility tend to be small and highly leveraged, have high variance of ROE and Market to Book ratio, high turnover rate, and pay no dividends. Furthermore, firms with extreme (either high positive or negative) asset growth rates have high idiosyncratic return volatility than firms with moderate growth rates, suggesting the V-shaped relation between asset growth rate and idiosyncratic return volatility. We find that the V-shaped relation is robust even after controlling for other factors. In time-series, we find that firm-level idiosyncratic volatility is positively related to the dispersion of the cross-sectional asset growth rates. As a result, this study is contributed to show that the asset growth is the most important predictor of firm-level idiosyncratic return volatility in both the cross-section and the time-series in the Korean stock market. In addition, we show how the effect of risk factors varies with industries.

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to numerical methods as the analytic solution is not available. This study improves two existing iterative methods: the cyclical coordinate descent (CCD) and Newton methods. The authors enhance the CCD method by simplifying the formulation using a correlation matrix and imposing an additional rescaling step. The authors also suggest an improved initial guess inspired by the CCD method for the Newton method. Numerical experiments show that the improved CCD method performs the best and is approximately three times faster than the original CCD method, saving more than 40% of the iterations.

The purpose of this paper is to investigate gender differences in motivations to use flexible work arrangements (FWAs) in Korea.

Based on a literature review on theory of planned behaviour (TPB), this study considers four motivational factors that influence the intention to use FWA: motivation for personal life, motivation for productivity, peer behaviour and concerns about career disadvantages. Survey response data drawn from 92 male and 105 female Korean workers were used to analyse differences by gender.

As for the male respondents, all four motivational factors have a significant effect on the intention to use FWA. However, in the female respondents, the effects of concerns about career disadvantages on the intention to use FWA are not significant. The results of gender differences analysis show that significant difference was not found in the effect of motivation for personal life on the intention to use FWA while the other three motivational factors have significant differences by gender.

In this research, basing its conceptual background on TPB, a novel approach is taken by introducing motivational factors as the antecedents of intention to use FWA. This is a more systematic view on individuals’ behavioural mechanism relating to the intention to choose FWA. It is also meaningful in that this study looks at the intention to use FWA from a broader perspective by suggesting gender differences as critical analysis criteria given the uniqueness of Korean labour market.

For an effective operation of FWA, it is important not only to launch a flexible working programme itself, but also to ensure that the users are properly understood and fairly evaluated.

Considering the motivations of utilising FWA from various angles will contribute to coming up with various measures to raise the use and effectiveness of FWA.

The author investigates realized comoments that overcome the drawback of conventional ones and derive the following findings. First, the author proves that (even generalized) geometric implied lower-order comoments yield neither geometric realized third comoment nor fourth moment. This is in contrast to previous studies that produce geometric realized third moment and arithmetic realized higher-order moments through lower-order implied moments. Second, arithmetic realized joint cumulants are obtained through complete Bell polynomials of lower-order joint cumulants. This study’s realized measures are unbiased estimators and they can, therefore, overcome the drawbacks of conventional realized measures.

This paper examines whether long-term foreign investors may force firms to use a costly dividend to mitigate inefficient managerial behavior. The authors also hypothesize that the relation between foreign investment horizons and payout policy depends upon the extent of the corporate governance. The authors find that firms held by long-term foreign investors make dividend more often in the subsequent years. The authors also find that foreign investors with long-term investments do not cause firms to pay dividends when firms have strong corporate governance. It suggests that long-term foreign investors serve as a substitute for strong corporate governance with respect to controlling agency conflicts.

The purpose of this study is to examine the influences of creativity, psychological ownership (PO) and perceived organizational support (POS) on knowledge creation, using the integrative systems model of creativity.

A survey was used to collect data from 188 workers in Korean public service organizations. Analyses, including bootstrapping and hierarchical regression analysis, were performed to determine the mediating effect of PO and also the moderating and the moderated mediating effects of POS.

The results showed that PO mediates partially between creativity and knowledge creation and that POS moderates the relationship between PO and knowledge creation. Notably, the moderated mediating effect of POS was only significant when employees had a high level of POS.

The findings suggest that creativity dissemination requires employees’ social consciousness, collaborative interactions and organizational support. The results imply that human resource development (HRD) practitioners need to cultivate the creativity capacity in the organization.

This study discusses the effects of PO and POS on creative performance, which HRD professionals and organizational leaders draw attention to for organizational development. Implications for organizational composition and interventions to enhance creative performance are provided.

This study aims to comprehend luxury brands' corporate social responsibility (CSR) strategies. In addition to facing a demand for new CSR strategies (consumer-centric CSR), changes in CSR discourse among luxury brands are observed. This study examines how CSR-related and luxury-related agendas relate in the news media, especially concerning the difference between traditional and new luxury brands.

A total of 117,171 fashion-related news articles were collected from January 2016 to December 2020. The word2vec method was used to determine the relationship between CSR and luxury agendas.

The results indicate that company-centric CSR is more prominent with traditional luxury brands, while consumer-centric CSR is more relevant for new luxury brands. In addition, specific CSR attributes and luxury-related attributes are associated with media discourse, which means that CSR and luxury are compatible.

Studies on CSR in the luxury industry are not extensive in the literature. This study addresses this gap through a unique framework that combines agenda-setting theory and existing CSR literature and applies them to the luxury industry. Specifically, this study captures the development of each construct (company-centric CSR to consumer-centric CSR and traditional luxury to new luxury) and identifies the specific relationships between them. This result provides a novel view of the luxury industry indicating that it has evolved to encompass CSR-related values. The empirical results also offer practical implications for luxury marketing.

Recently, many enterprises are using a variety of methods and techniques to examine and improve their current maturity level of information technology (IT). Although IT evaluation studies based on IT maturity stages have been conducted widely, the stages theory has not been confirmed through statistical testing. IT evaluation activities can present managerial implications to an enterprise by determining where it stands within the stages theory. The purpose of this paper is to test empirically and repeatedly the once‐defined maturity model in order to make its validity more powerful.

To define IT maturity stages and benchmarks with statistical testing, evaluation fields and factors of the L&K Model are referred to. Data were gathered by a questionnaire survey and interviews, in which 312 enterprises in South Korea participated. Consequently, IT maturity stages are defined and significant benchmarks of each stage are validated through ANOVA and post hoc comparison methods.

The results of the study indicate the meanings and benchmarks of newly defined five stages of IT maturity: initiation, recognition, diffusion, control, and integration.

The aim of this study is not only to apply an advanced methodology to study empirically how IT maturity level of an enterprise is improved, but also to suggest practical guidelines for actions to improve it.

The five stages model is totally enhanced and reformulated from the previous stages theories. First, well‐combined and comprehensive evaluation factors are used to critically appraise the evolutionistic characteristic of IT in enterprises. Second, the definition and benchmarks of the five stages model are confirmed through statistical testing with sufficient sample size (n=312).

The purpose of this study is to examine the effects of a Disney collaboration and Disney product line extension type on the perceptions of masstige brands and purchase intentions. By identifying masstige brands as two types (i.e. born-masstige versus luxury-masstige brands), this study investigates how consumers respond to a Disney collection across different types of masstige brands.

The authors conducted three studies using an experimental approach.

Study 1 shows that compared to a traditional collection, a Disney collection lowered perceptions of brand luxury, but the negative effect is stronger for born-masstige brands than luxury-masstige brands. Studies 2 and 3 revealed that an upward extension enhanced perceptions of luxury for the born-masstige brand more than it did with a horizontal extension, whereas there was no difference between upward and horizontal extensions for the luxury-masstige brand.

This study contributes to understanding how Disney collaborations influence consumers’ perceptions of masstige brands. It has implications for brand positioning and pricing strategies for practitioners collaborating with Disney or similar companies.

To the best of the authors’ knowledge, this study is the first of its kind to investigate consumer responses to a Disney collaborated collection across two types of masstige brands by exploring their type of product line extensions.