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This study examines the volatility spillover effect and forward pricing effect between futures and spot markets, using the daily data of January 1988~April 2013 and Bounds test, ARDL model, DCC-GARCH model and the new method of spillover index calculation. In particular, the comparison between the developed and emerging markets will shed a light on a difference between the efficiencies of the two groups of markets. Our results show that the volatility spillover effect in the developed market was less in magnitude, compared to that effect in the emerging market. The causal influence from the future market to the spot market was greater in the developed market than in the emerging markets. This indicates that the foreign exchange markets (future and spot both) were much more efficient in the developed markets than in the emerging markets. This also implies very fruitful guides for the foreign exchange intervention policy, including signaling effect, portfolio effects, and direct and indirect intervention effects.

This study examines the indirect hedging strategy and its price ccndition against exchange risk for the export firms which can not directly hedge due to non-existence of appropriate futures market for the export market currency. The export firms would manipulate their mark-up rate as real hedging against exchange risk in the incomplete export market. Real options tend to reduce the uncertainty of an export profit curve in nonlinear manner and thus, substitute for the financial hedging. As a result, the optimal hedging strategy for the firms exporting to the incomplete market is an under hedge combining short futures and long put. The long put is a substitute with short futures and required to cover the nonlinear risk of export profit derived by real options. Indirect hedging would increase the expected profit by reducing risk, while a sufficient and necessary condition for the optimal indirect hedging depends on exchange volatility and a magnitude of put premium relative to an expected excercise loss.

With the emergence of ranking of universities by organizations, one major factor considered in the rankings is the intellectual output of the universities. For universities to remain part of the global academic competitive society, intellectual output of universities can no longer be stored on shelves in libraries. Academic libraries have engaged in digitization of the intellectual works of their institutions which is a core mandate of any academic library. The purpose of this study is to ascertain the state of digitization initiatives among university libraries in Ghana.

A qualitative approach was adopted. Nine top universities in Ghana were selected to participate in this study. Interviews were conducted with heads of libraries.

The findings of the study revealed that seven out of the nine libraries studied have embarked on some sort of digitization initiative, and all libraries studied are using the same digital asset management system (Dspace). Major challenges reported by the participants that are common to all the libraries studied are lack of adequate and modern equipment, lack of trained personnel and lack of cooperation from faculty members.

This study brought fore the initiatives undertaken by academic libraries in Ghana to establish and maintain institutional repositories (IRs) amidst a number of challenges. It is a major contribution to the literature from West Africa as not much literature on IR is found from this part of the world.

Adopting more sustainable and social-oriented perspectives is crucial for the emergence of the so-called humane entrepreneurial ecosystems (HEEs), the last ones supporting the improvement of both economic, environmental and social wealth. Entrepreneurs act as keystone players in each entrepreneurial ecosystem, thus the emergence of Humane Entrepreneurship (HumEnt) is crucial in shaping HEEs. Given the role of culture in affecting HumEnt, the relationships between Humane Orientation (HO) – as defined in the GLOBE project – and the basic components of Humane Entrepreneurship (HumEnt) were, particularly, explored in a selected sample of countries. Both Intellectual Capital (IC) and knowledge management (KM) perspectives were adopted in pursuing the research goal.

The study approaches this by the mean of the Ward method with Euclidean squared distance and the k-means method. The GLOBE project, the Global Entrepreneurship Monitor (GEM), the Environmental Performance Index (EPI) and the International Social Survey Program (ISSP) were used as data sources. Correlations between HO “as is” scores and each components of HumEnt were checked for the world sample (N = 36), as well as for the groups of innovation-driven countries (N = 17) and European countries (N = 14).

Research results show a conditional confirmation of the developed hypotheses, depending on countries cultural levels of HO, with a moderating role exercised by the economic development on the relationship between culture and HumEnt.

Given the increasing pressure of fundamental societal challenges, such as climate change, poverty and increasing inequality within and between countries intensified by pandemic (UN report, 2021), integrating the more traditional approaches to profit seeking with the more sustainable and human-centric perspective is a priority for both scholars and society at large. Previous researches do not provide explanation about the contextual factors responsible for the emergence of more humane-oriented entrepreneurial ecosystems, especially when referring to culture. This article broadens our understanding about the reason why both HumEntr and HEEs differently arise and develop in different cultural contexts.

This study aims to analyze information on vessel traffic between the two Koreas with a probability distribution for each route/vessel type. The study will then conduct an estimate for maritime transport patterns of inter-Korean trade in the future. To analyze the flow of inter-Korean coastal shipping, this study conducted visualization analysis of shipping status between North and South Korea by year, ship type, and port using navigation data of three years from Port Logistics Information System (Port-MIS) sources during 2006 to 2008, which saw the most active exchanges between the two governments. Also, this study analyzes shipping status between the two governments as a probability distribution for each port and provides the prospects for future maritime transport for inter-Korean trade by means of Bayesian Networks and simulation. The results of the analysis are as follows: i) when North-South routes are reopened, the import volume for sand from North Korea will be increased; ii) investment in the modernization of ports in North Korea is required so that shipping companies can generate profit through economies of scale; iii) the number of the operating vessels including container ships between the two governments is expected to increase like when the tensions and conflict on the Korean Peninsula was release, especially between Busan port in South Korea and Nampo port in North Korea; and iv) among container ships, transshipment containers imported and exported through Busan Port will be shipped to North Korea by feeder transportation.

This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93) regime, in which Korea struggled for fundamental reforms of the earlier centrally controlled state system through economic rationalization and labor flexibilization. During that juncture of Korean history, neo‐liberalization under the influence of Fordian decline was a governing theme behind the Korean economy's policy formation as well as labor agenda. This reliance of government on the neo‐liberal pillar has made an impact on the subsequent leaderships under Young Sam Kim (1993–1998) and Dae Jung Kim (1998‐present). After briefly reviewing the major aspect of Korean economy and labor problems surrounding the financial crisis of East Asia around 1998, the international influence of Fordian decline and neo‐liberalization as a Korean alternative has been discussed.

The purpose of this study is to investigate the moderating role of CEO duality on the geographic diversification–firm performance relationship in the US lodging industry.

To examine the individual effect of geographic diversification and the moderating effect of CEO duality, this study adopts random effects regression. Additionally, to appropriately address the endogeneity issue, this study uses random effects regression with the instrumental variable method. The sample period spans 1990-2015 and 258 firm-year observations are included.

This study finds that geographic diversification has a positive and significant effect on firm performance. Also, the result shows a positive and significant moderating role of CEO duality, which implies that the magnitude of the impact of geographic diversification on firm performance is significantly greater when CEO duality exists.

Although it has a limitation of applying the results of this study to privately held lodging firms in other countries, US public lodging firms are encouraged to consider a corporate governance structure incorporating CEO duality to maximize the effect of geographic diversification on firm performance.

This study contributes to the hospitality literature by providing a unique dimension that the influence of geographic diversification is contingent on the adoption of CEO duality. And, the results of this study provide practical guidelines for the lodging firms’ implementation of geographic diversification.

This study aims to propose and validate a model for e-Learning success based on students’ experiences in the “new normal.” To achieve this goal, this study focused on answering three research questions: (1) What are the students’ experiential factors that impact e-Learning? (2) How do these experiential factors affect e-Learning success? (3) In what ways does a multimethod provide a comprehensive perspective and an in-depth understanding of students’ e-Learning experiences in the new normal?

This study applied a mixed-methods sequential approach using exploratory, confirmatory and complementary studies. First, this study undertook a text-mining exploratory analysis of the review data to extract e-Learning topics. Then, based on the Information Systems (IS) success model, this study identified an integrated framework drawn from the results of the text-mining analysis. Second, this study proposed an e-Learning, experience-based success model and corresponding hypotheses and conducted a confirmatory study with surveys to validate the model. Third, this study conducted in-depth interviews to better identify the phenomenon of interest.

The five factors extracted from the first stage are system quality, lecture content, teaching quality, online interaction and achievement. This study subsequently confirmed the significant relationships between the e-Learning success factors in the second stage based on the IS success model. Finally, a complementary study identified the importance of interactivity for e-Learning success in the new normal.

To the best of the authors’ knowledge, this paper is the first to develop an e-Learning success model using a comprehensive mixed-methods approach.

This research delves into the dynamic realm of app design by examining the impact of app icon familiarity and authority on image fit, influencing users' app usage intention. Focusing on the distinctive circumstances of Chinese and Korean customers, the study aims to provide insightful information about how application user behavior changes.

Utilizing structural equation modeling, the study employs data from 293 Korean and Chinese consumers. The research design incorporates a thoughtful approach, including parallel translation methods, focus group interviews, and pre-experimental testing to ensure survey accuracy and validity. The study strategically selects stimuli from the Apple App Store rankings, emphasizing icon features and type considerations.

The results provide important new information about the connections between usage intention, image fit, authority, and familiarity with app icons. Notably, app icon familiarity and authority positively influence image fit. Furthermore, app icon image fit emerges as a positive predictor of usage intention, mediating the complex interplay between familiarity, authority, and intention. The study also identifies moderating effects, shedding light on the nuanced role of app icon features and types.

Originating from a comprehensive exploration of icons, this study significantly contributes to the field by exploring icon differences and uncovering the intricate mechanisms guiding users' decisions. The findings offer valuable insights for app designers, marketers, and researchers seeking a deeper understanding of user behavior in diverse cultural contexts, thereby enhancing the theoretical and practical foundations in app usability and consumer behavior.

This study aims to examine the effects of different dimensions of national culture on corporate social responsibility (CSR) activities of hospitality firms, including lodging, casino and restaurant firms.

This study performs a panel regression analysis to examine the effect of Hofstede’s national culture dimensions on the total CSR score, positive CSR score and negative CSR of the sampled hospitality firms. The sample period spans fiscal years 1993 to 2011and 365 firm-year observations are used for the study’s analysis.

This study finds a positive and significant effect of uncertainty avoidance on the total CSR score. Further, the study’s results show a positive and significant effect of power distance both on positive and negative CSR scores, while individualism appears to have a negative and significant effect both on positive and negative CSR scores. Masculinity reveals a negative and significant effect on the positive CSR score.

Although the study’s results may not be generalizable to private or non-hospitality firms, according to the findings, multinational hospitality firms are encouraged to conceive a CSR portfolio consisting of localized CSR strategies that consider the effects of national culture on CSR.

This study contributes to the body of hospitality literature by filling the void regarding the relationship between national culture and CSR. At the same time, the findings of this study serve as guidelines for multinational hospitality firms’ implementing CSR activities.