Search results

The purpose of this paper is to analyze the credit channel effects on investment behavior for the US and the Euro area.

This paper uses the dynamic stochastic general equilibrium model and calibrates a version of the Carlstrom and Fuerst’s (1997) agency cost model of business cycles with time-varying uncertainty in the technology shocks that affect capital production. To highlight the differences between the US and European financial sectors, the paper focuses on two key components of the lending channel: the risk premium associated with bank loans and the bankruptcy rates.

This paper shows that the effects of minor differences in the credit market translate into large, persistent and asymmetric fluctuations in real and financial variables and depend on the type of shocks. The results imply that the Euro areas supply elasticities for capital are less elastic than that of the USA following a technology shock. Finally, the authors find that the adverse impact of uncertainty shocks is heterogeneous across countries and amplified by the steady-state bankruptcy rate and risk premium.

This paper quantifies the effects of uncertainty shocks when there is a credit channel due to asymmetric information between lenders and borrowers for the Euro area countries, and then compares the results to that of the USA. This paper shows that financial accelerator mechanism could potentially play a significant role in business cycles in the Euro area. This result directly lends one to conclude the following: the credit channel that affects the financial sector does indeed matter for macroeconomic behavior, and that policy makers should be attentive in smoothing out uncertainties if the economic policies are to lower the business and financial cycle volatilities.

The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from 1973 to 2014. Second, the authors analyze the effects of their index on the housing rental markets across 18 countries and states.

The authors’ index not only covers 18 developed economies over 42 years but also combines both tenure security and rent laws. The authors’ empirical framework is that of panel regressions with time and country fixed effects.

The authors’ index sheds further insights on the extent to which rent and tenure security laws have converged over the past 40 years for each economy. Moreover, the authors show three empirical results. First, stringent rent control regimes do lead to lower real rent growth rates than regimes with free rents. Second, soft rent control regimes with time-limited tenure security and minimum duration periods, however, may cause higher rent growth rates than free rent regimes. Third, rent-free regimes do not show significant high real rent appreciation rates.

The authors’ rental regulation index is the first time-varying index that covers more than 18 economies over 40 years.

This study examines the enabling factors and practices that foster knowledge management in museums and the impact of those factors and practices on museums' performance and public value.

The authors conducted an exploratory survey of senior leaders of 191 small and mid-sized museums in the United States. The survey tested a novel conceptual model that integrates the constructs of knowledge management enablers, knowledge management orientation and organizational performance. Descriptive and inferential statistical analyses of survey data were conducted to identify both the presence and dimensions of these constructs as well as the nature of the relationships among them.

The results of this study identified strong and significant predictive relationships between the constructs of its novel conceptual model. However, findings also identified key gaps in how museums create, manage and share organizational knowledge. These gaps limit their organizational performance and their ability to create public value. The authors identify specific factors and practices that enable museums to improve their organizational performance and increase their public value.

As the first empirical study of knowledge management enablers and knowledge management orientation in museums, this research not only adapts the study of these constructs to the museum sector, but it develops a novel conceptual model that links these constructs to multiple dimensions of a museum's organizational performance and public value. This research sets the stage for new study of knowledge management in museums; it also provides valuable insights for museum leaders.

Online reviews are increasingly available for a wide range of products and services in e-commerce. Most consumers rely heavily on online reviews when making purchase decisions, so an important topic is that of understanding what makes some online reviews helpful in the eyes of consumers. Researchers have demonstrated the benefits of the presence of customer reviews to an online retailer, however, few studies have investigated how images in review content and the facial expressions of reviewers’ avatars influence the judgment of online review helpfulness. This study draws on self-construal theory, attribution theory and affect-as-information theory to empirically test a model of the interaction effects of images in review content and the facial expressions of reviewers’ avatars on online review helpfulness. Furthermore, the purpose of this paper is to identify an underlying mechanism of causal attribution toward store performance on the above effects.

This study conducted two online experiments. Study 1 is a 2 (images in review content: one person with a product vs a group of people with a product) ×2 (facial expression of the reviewer’s avatar: happy vs angry) between-subjects design. Study 2 is a 3 (image: product alone vs one person with a product vs a group of people with a product) ×2 (facial expression of the reviewer’s avatar: happy vs angry) ×3 (valence of the review: positive vs negative vs neutral) between-subjects design.

The results indicate that when consumers were exposed to a happy-looking avatar, they were likely to express higher perceptions of online review helpfulness in response to an image showing a group of people in a restaurant than they would for an image of one person in the same situation. In contrast, when consumers were exposed to an angry-looking avatar, their perceptions of online review helpfulness did not differ in response to images of either a group of people or of one person. Furthermore, cause attribution toward store performance mediated the interaction between images in content of reviews and the facial expression of a reviewer’s avatar on the perceptions of online review helpfulness.

The authors provide insights into how to develop guidelines on how online reviews should be written so that readers perceive them to be helpful, and how to design effective reward mechanisms for customer feedback.

Compared with previous studies, this study provides further contributions in three ways. First, it contributes to the literature on review content by showing which images in reviews are deemed to be helpful. Second, it extends previous findings from the literature relating to online peer reviews by demonstrating the importance of facial expressions in reviewers’ avatars (i.e. happy vs angry) when explaining helpfulness, rather than the strength of purchase intent. Third, this study contributes by further highlighting a novel mechanism which shows that a causal attribution toward store performance motivates the perceptions of online review helpfulness.

This study examines the effect of a regulatory-focused prime (i.e. a brochure with a picture and message) on the recommending behavior of investment advisers in the context of an investment decision.

Three experiments were conducted with 468 participants, mostly from the financial services industry. Study 1 examined the direct effect of a regulatory-focused prime on an investment adviser's recommending behavior, whereas Study 2 examined the moderating role of regulatory fit on such behavior. Study 3 validated the findings.

The results provide evidence that a message using visual and textual cues based on a promotion and prevention regulatory focus may trigger a preference in an investment adviser's product recommendation. A promotion (prevention)-focused framed message will trigger the recommendation of an investment plan with a higher but riskier (safe and stable) potential return. However, when the same prime is presented with details of a performance incentive scheme, the effect of the prime is reduced when there is a regulatory nonfit between the prime and the message relating to the performance incentive scheme.

The findings highlight the importance of understanding how regulatory-focused stimuli may subconsciously influence the recommendation of investment advisers as heuristics used in decision-making, thereby influencing their clients' investment decisions.

Past studies have focused on how regulatory-focused visual and message cues influence consumer decision-making. This study provides empirical evidence regarding the influence of regulatory-focused prime on an investment adviser's behavior when providing investment advice.

Prior literature on online customer reviews (OCRs) suggests that individuals are socially influenced by information shared by others. Given that the online environment brings together users from different cultures, understanding how users differ in their processing and generation of OCRs across cultures is imperative. Specifically, this paper explores how cross-cultural differences influence OCR generation when there are inconsistencies between recent and overall review ratings.

The authors employ an empirical study and an experimental approach to test the predictions. For the empirical study (Study 1), the authors collected and analyzed actual review data from an online hotel review platform, Booking.com. This was followed by an experimental study (Study 2) in which the authors manipulated the thinking style represented by each cultural orientation to further explain how and why cross-cultural differences exist.

The results show that compared with the review ratings of users from collectivist cultures, those of users from individualistic cultures are more likely to follow recent review ratings. Based on the experimental study, the authors further find that such cross-cultural differences in OCR generation are driven by differences in thinking style.

This research extends the literature by demonstrating the cross-cultural differences in individuals' herding tendencies in OCR generation. The authors also add to the literature by showing in which direction OCR herding occurs when there is a discrepancy between overall and recent review ratings. From a managerial perspective, the findings provide guidelines for online platforms serving the global market on predicting customers' OCR generation and constructing appropriate response strategies.

The purpose of this paper is to gain more insight into the relationship between social media activities and thinking styles, and its potential mechanism.

The current study conducted four studies using an experimental method and eye-tracking method to evaluate prediction.

Results from studies 1 and 2 showed that social media activities influence individuals’ self-construal, and the impact of self-construal on the relative reliance on cognitive vs affective thinking styles. Study 3 supports the hypothesis that social media activities influence individual’s thinking styles, and self-construal is a critical mediator in this process. Furthermore, the authors replicated these findings using an experimental method and eye-tracking method (Study 4), which enabled us to better understand the consumer’s psychological experience when using social media.

This paper contributes to the social media activity literature in the following ways. First, this research advances the knowledge of social media by demonstrating that social media activities can have significant effects on thinking styles. Second, the current research brings important insights to the literature on self-construal. Finally, using eye-tracking methods, the authors also provided some new insights on consumer thinking and behavior.

This study investigates how healthcare workers' venting - an emotion-focused form of coping during non-working hours - has unintended costs via its effect on spouses' reattachment to work if life partners are dual-earners. Research also examined anxiety as a causal mechanism that connects the receipt of venting with failure in reattachment to work. Lastly, our theory suggests that not everyone has the same experience with venting; the effect varies at different levels of emotional intelligence.

Multilevel path analysis using MPlus 8.3 was conducted to examine the daily survey data obtained from 101 spouses of healthcare workers over four consecutive workdays using the experience sampling technique.

The results suggested that receipt of venting increases anxiety and adversely influences reattachment to work through increased anxiety. The findings supported the suggested model's predictions, indicating that anxiety mediated the link between the receipt of venting and reattachment to work, and the mediation was partial. Further, emotional intelligence buffers the positive effect of receipt of venting on anxiety and the negative on reattachment to work. Lastly, the findings indicate that moderated mediation exists: the indirect effect of receipt of venting on reattachment to work is not as strong at higher levels of emotional intelligence.

This study is the first attempt that identified the receipt of venting as a predictor of reattachment to work. Moreover, up till now, no study has examined the mediating role of anxiety in the relationship between receipt of venting and reattachment to work. Finally, this is the preliminary effort that validated the moderating role of emotional intelligence on the above-mentioned links.

In researching into workplace pro-environmental behaviors, there is sparse evidence on self-construals with dimensions of organizational citizenship behavior for the environment (OCBE), particularly among university employees. To fill this gap, the purpose of the study is to investigate the associations of self-construals with eco-civic engagement, eco-helping and eco-initiatives among 256 (men = 139 and women = 117) employees of a University.

Through the use of cross-sectional survey method, data were collected to investigate theoretically deduced hypotheses. Hierarchical multiple regression was used to test the hypotheses.

Results showed that independent self-construal was positively associated with eco-civic engagement, β = 0.25, t = 2.55, p < 0.01, eco-helping, β = 0.42, t = 4.51, p < 0.01 and eco-initiatives, β = 0.36, t = 3.73, p < 0.01, whereas interdependent self-construal had significant positive relationship with eco-civic engagement only, β = 0.27, t = 2.73, p < 0.01.

Future research can manipulate self-construal and collect observational data on eco-civic engagement, eco-helping and eco-initiatives. The findings should be further developed using larger samples among other higher education institutions (HEIs).

This study provides a basis that self-construction can influence OCBE, particularly, focusing on independence can drive eco-civic engagement, eco-helping and eco-initiatives while focusing on interdependence can motivate eco-civic engagement. The findings may guide future development of workplace environmental sustainability programs and policies to aid university managers, practitioners, organizers and promoters of environmental sustainability on the university campuses.

The findings contribute to environmental sustainability literature in HEIs by providing information on the usefulness of self-construal types in motivating employee participation in OCBE.