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Literature documents that executives' inside debt holdings (debt-based managerial compensation) such as defined-benefit pensions and retirement funds are often unfunded and unsecured and have long maturities, and thus provide managerial incentives to pursue strategies to avoid the overall firm risk. This study investigates the effect of managerial inside debt compensation relative to equity-based compensation on a firm's dividend payout policy. We find that a inside debt holdings are positively associated with various measures of a firm's dividend payout policy. Additionally, we find empirical evidence in firms with inside debt holdings that the inverse relationship between high default risk measured by KZ index and dividend payout weakens as the portion of inside debt relative to equity-based compensation rises. This finding indicates that the needs for the firm to restrain dividend payouts to equity holders is reduced as the executive's debt-to-equity compensation ratio becomes larger. Overall, the results suggests the mitigating effect of executives' inside debt holdings on the conflicts between bondholders and shareholders can lead to generous payout policy.

Food delivery robot service (FDRS) is a novel service using autonomous delivery robots that alters human delivery in mobile food ordering. Despite FDRS companies’ skyrocketing service expansions throughout the USA, there has been limited understanding of customer perceived value, customer satisfaction and loyalty which is imperative to promote repeat sales. Therefore, this study aims to examine customer perceived value of FDRS, identify antecedents of customer satisfaction with FDRS and investigate the additional impact of customer satisfaction and loyalty toward FDRS and the restaurant using FDRS.

As a sample population, this study targeted the US customers over 18 years old and have used FDRS within the past 12 months. With a total of 323 responses, descriptive statistics, confirmatory factor analysis and structural equation modeling were conducted for data analysis.

The findings of this study demonstrate the positive impacts of functional, price and emotional value on customer satisfaction. The current study also shows that customer satisfaction positively influences customer loyalty toward FDRS and the restaurant.

To the best of the authors’ knowledge, the current study is arguably the first to investigate customers’ post-purchase experience with FDRS, which enhances understanding of customer behavior toward the service. Moreover, with a multidimensional consumption value approach from the theory of consumption values, this study provides a single framework to explore the relations between customer perceived value, satisfaction and loyalty in the FDRS context.

食品配送机器人服务（FDRS）是一种使用自主配送机器人改变移动食品订购的新型服务。尽管FDRS公司在美国各地的服务扩张迅猛, 但对于顾客感知价值、顾客满意度和忠诚度的理解仍有限, 而这对于促进重复销售至关重要。因此, 本研究旨在考察顾客对FDRS的感知价值, 确定影响顾客对FDRS满意度的先决条件, 并调查顾客对FDRS及使用FDRS的餐厅的满意度和忠诚度的影响。

本研究以美国18岁以上并且在过去12个月内使用过FDRS的顾客为样本, 共收集到323份回答。采用描述性统计、确认性因素分析和结构方程模型进行数据分析。

本研究的结果显示功能性、价格和情感价值对顾客满意度有积极影响。当前研究还表明, 顾客满意度对FDRS及餐厅的忠诚度有积极影响。

本研究可以说是首次调查顾客对FDRS购买后的体验, 从而增进对顾客对该服务行为的理解。此外, 本研究采用了来自消费价值理论的多维消费价值方法, 为探索FDRS背景下顾客感知价值、满意度和忠诚度之间的关系提供了一个单一的框架。

The purpose of this paper is to examine differences of the perceived internal marketing practices (IMP), job satisfaction (JS), organizational commitment (OC) and turnover intention (TI) between full- and part-time employees and to incorporate employment status as a moderator in the restaurant employee turnover model.

The target population included current restaurant full- or part-time employees in the USA. The questionnaire was distributed to potential participants through an online survey that the company used to collect nationwide data.

Full-time employees’ perceptions of the IMP were comparably greater than those of part-time employees, and full-time employees were also more committed to the organization and had less intention to leave than their part-time counterparts. Significant moderating effects of employment status existed in the restaurant employee turnover model.

The current study may not adequately capture the differences between full- and part-time employees by asking respondents to identify their employment status.

IMP should be facilitated at the management level to provide insight and value to their employees, and more attention and effort in the internal marketing and human resource practices for part-time employees are needed to have more satisfied and committed employees, and, in turn, better performance.

The literature on full- and part-time employees was incomplete, and there was minimal research that tested differences between full- and part-time employees in the foodservice industry.

The purpose of this paper is to examine the effect of internal pores on the tensile properties of a Co–Cr–Mo alloy fabricated by selective laser melting (SLM).

The size and volume fraction of pores were controlled through high temperature annealing (HTA) and hot isostatic pressing (HIP).

After HTA, the size and fraction of pores decreased compared with the as-built SLM sample, and no pores were observed after HIP. Tensile tests of the HTA and HIP samples showed nearly similar tensile deformation behavior. From the results, the authors found that the size of the internal pores formed in the SLM process had little effect on the tensile properties. The as-built SLM sample had less elongation than the HTA and HIP samples, which would not the effect of porosity, but rather the effect of the residual stress and the retained ε phase after the SLM process.

Although pores are a main factor that influence the mechanical properties, the effect of pores on the tensile properties of Co–Cr–Mo alloys fabricated by SLM has not been studied. Therefore, in this study, the effect of pores on the tensile properties of a Co–Cr–Mo alloy fabricated by SLM was studied.

The purpose of this paper is to analyze maritime logistics connectivity of ports and shipping networks in the East Sea Economic Rim (ESER) to promote international trade in the context of China’s Belt and Road Initiative (BRI), considering centrality, primary flow and clustering interaction.

The paper applies a complex network model, using a big data system consisting of an automated identification system, electronic data interchange and distributive and complex data. Three perspectives, including connectivity in trading ports and regions, centralities in the realm of complex network and potential marketing and regional impacts, and sixteen criteria are considered for this analysis. A visual approach has been also applied to highlight port connectivity and ship flows for the reader’s convenience.

The paper shows that port connectivity and maritime logistics are enablers to promote Korean international trade in Northeast China through the ESER, and 25 major ports are well connected to promote international trade in the region with visual data of ship flows by ship type and by flag.

Owing to the lack of port management information systems among the countries in the ESER except Korea and Japan, this paper could not capture cargo types and amounts on board. Port connectivity analysis shows links of the ports in the ESER to major ports in southeast Asia along the Twenty-first Century Maritime Silk Road (MSR). These results contribute to drawing policy implications to promote the ESER and provide suggestions for promoting Korean international trade by enhancing maritime logistics connectivity.

Unlike the existing literature showing descriptive and policy-oriented research related to ESER, this paper applied a vigorous method with a big amount of data to analyze port connectivity and ship flows in the ESER, considering China’s BRI affecting the global supply chain system, maritime transportation, and logistics. In addition, the paper shows how the seaports in the ESER are connected along the MSR.

The purpose of this paper is to examine how corruption has changed over time in South Korea and to explore how the corruption control and prevention efforts of the Korean government have been successful and failed.

This paper draws on institutional theory to formulate a qualitative analysis to assess the effectiveness of anti-corruption policies and measures, and to identify the strengths and weaknesses of anti-corruption reform efforts in South Korea.

This paper argues that while the Korean government has been quite successful in building anti-corruption institutions to control low-level petty corruption, it has failed to institutionalize anti-corruption institutions to curb high-level grand corruption.

While many studies have attempted to identify the successful factors of fighting corruption, this paper draws a theoretical distinction between institution-building vs institutionalization to examine the success and failure of corruption control and prevention efforts in South Korea.