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Margin requirements are often viewed as an effective policy tool to prevent the default risk and maintain market stability. For the Korean futures market, this paper examines whether the margin requirements work normally as a tool to prevent default risk and margin changes have impact on futures trading activity. KOSPI200 stock index futures, USD (U.S. Dollar) futures, and 3-year KTB (Korean Treasury Bond) futures are included in the sample for the period from 2010 to 2015. Using the simulation method assuming the worst situation, we find that the possibility of default occurs once for KOSPI200 futures, twice for 3-year KTB futures, and 7 times for USD futures during the sample period. This result suggests that active margin requirement policy is necessary to prepare for financial market turbulence. In addition, we find that the margin changes do not have a significant impact on the futures trading activity, suggesting that decreases in margins are not effective means to improve liquidity in the Korean futures market

The purpose of this paper is to examine the relationships among athlete star power, enjoyment and revisit intention of sport event tourists in a sport mega-event (SME).

This study was conducted in the context of 2018 PyeongChang Winter Olympic Games. A total of 419 respondents completed a survey. Structural equation modeling was used to analyze the data.

This study proved the final structure model fit well by having the values and scores higher than the minimum cutoff in all categories. Path coefficients indicate that H1a, H1c and H2 were supported while H1b was not supported by the analysis. In addition, enjoyment partially mediated the relationship between athlete star power and revisit intentions. In particular, two mediating effects were found: enjoyment mediated trustworthiness and revisit intention and expertise and revisit intention. However, enjoyment did not mediate the relationship between attractiveness and revisit intentions.

The limitation of this study lies within two perspectives. Since the data have been collected in one country, the results may be viewed and interpreted for a specific location and time. Thus, it is strongly recommended to conduct the similar studies in the future Olympic Games. In the other perspective, the results could be different from one to another sport game because of the popularity by star power and game itself.

This study adds the literature on sport event research. Although there were a few studies on the effect of athlete star power, a dearth of research examined the relationships among athlete star power (trustworthiness, attractiveness and expertise), enjoyment and revisit intention. These results are valuable to SME managers to increase the propensity of tourists’ revisit intention at sport mega-event by understanding the factors that lead to increased tourist enjoyment.

The purpose of this paper is to analyze the wealth effect of involuntary delisting and investigate insider opportunism and the role of corporate governance, liquidity and legal environment in involuntary delisting in Japan’s stock market.

The authors use a sample of 136 involuntarily delisted firms in Japan’s stock markets between 2002 and 2012. The authors examine ownership changes of inside shareholders prior to delisting and estimate regression models for the wealth effect of involuntary delisting.

Involuntary delisting is highly disruptive in Japan, and limited liquidity of delisted stocks appears to be an important cause. However, the ownership reduction of inside shareholders before delisting is limited, totaling 2–3 percent. For delisted firms with an insider bank, the decrease in share price leading up to a delisting announcement is much less, while the decrease in share price upon a delisting announcement is far greater.

The study investigates involuntary delisting in regard to the opportunistic behavior of inside shareholders and the role of institutional environment in Japan’s stock market. Insiders, especially insider banks, maintain ownership in a distressful context leading to the forcible delisting of a distressed firm. The authors find some evidence that suggests that the market believes the insider bank will try to prevent the ailing firm’s insolvency. The findings are consistent with the implicit relational contracts that characterize Japanese firms.

The purpose of this paper is to investigate whether there is any difference across individual investors, domestic and foreign institutional investors in trading volume responses to analyst reports. The authors also examine the determinants of trading volume responses using firm as well as forecast characteristics.

The authors use trading data from the Korean equity market. The authors divide investors into three classes of investors; namely, individual investors, domestic institutional investors, and foreign institutional investors. The authors then examine whether the trading responses to analyst reports vary across investor types, and how firm characteristics and characteristics of analyst reports influence the trading activities on the release dates across investor types.

Individual investors are the most responsive investor group, being responsive to analyst reports on small, neglected firms with large inside ownership as well as to analyst reports with optimistic forecasts. Domestic institutional investors are responsive to reports on neglected firms with high return volatility while foreign institutional investors show least responses.

There are few studies that investigate whether the trading responses to analyst reports vary across investor types and how firm characteristics and characteristics of analyst reports influence the trading activities on the release dates across investor types. Taking advantage of the trading volume data for the three main investor types in the Korean stock market, the authors study the trading volume responses for each investor type and make comparisons across investor types.

The purpose of this study was to examine the influence of para-sport spectator motivation on spectator revisit intentions and the mediating effect of attitude on motivation and revisit intentions.

This study was conducted in the context of the 2018 PyeongChang Winter Paralympic Games. A total of 350 respondents completed a survey. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) were used to analyze the data.

Inspiration, supercrip image, physical skill/aesthetics, and social interaction had strong influences on attitudes toward Winter Paralympics, and attitude was also shown to have a strong impact on revisit intentions. The results also revealed the mediating effect of attitude on para-sports motivation factors (inspiration, supercrip image, physical skill/aesthetics, and social interaction) and revisit intentions.

This study extends the literature on para-sport spectator motivation. Although there are a few studies examining spectators' motivation to attend para-sport events, there is limited research on the relationships among motivation, attitude, and revisit intention based on consumer attitude theories. The results are valuable to sport managers in increasing the propensity of para-sports events by understanding the factors that lead to changes in attitudes and increases in future attendance.

The purpose of this paper is to introduce a more practical approach for supply chain performance measurement (SCPM) and to approve the promising role of internet of things (IoT) technologies in SCPM systems.

This is a conceptual paper that includes literature review analysis, designing a new approach for SCPM, and a case study scenario for proving its applicability.

The case study scenario shows that IoT can enhance SCPM, as it has the capability to enable real-time data collection, increase data efficiency as long as enable real-time communication within the supply chain (SC).

The proposed approach can help to develop performance measurement systems and applications enabled by IoT technologies. These systems can be used to monitor, manage, and control the overall SC in real time and in a more integrated and cooperative manner.

This paper provides a structured systems building approach tailored to show how to employ IoT technologies in the field of SCPM. This approach could help in establishing new performance measurement applications, and it is believed that both practitioners and researchers will benefit from it.

This paper aims to enhance the responsiveness of enterprises with regard to delivery schedules in a supply chain. Based on the observations in industry, it seems that companies often re‐negotiate their due‐dates. These phenomena have begun to appear only recently, as a result of the advancements of information technology and flexibility in the supply chain. However, these due‐date re‐negotiation processes are haphazard and ad hoc in nature, and a formal process is needed to respond to market fluctuations more quickly. In this paper, a re‐negotiable order processing method is developed that can change the already‐assigned due‐dates or allow partial shipments to increase the flexibility of firm response to a rush order from a prior customer (PC).

A due‐date re‐negotiation process is defined and a formal system for handling customer orders is proposed. The new data and business process integration model are proposed for the due‐date re‐negotiation process based on RosettaNet's Partner Interface Processes. Web services and ubiquitous computing technologies are used in the proposed system architecture to allow for responsive sales order management.

The paper shows that assigned due‐dates can also be re‐negotiated by enhancing the connectivity and visibility of the supply chain with co‐operative customers. In the early stage of the product life cycle or high‐regional demand variation environments, it is better to re‐negotiate due‐dates than to meet scheduled due‐dates.

In some instances, meeting the due‐date requested by a customer relates to the success or failure of a particular sales order. The proposed re‐negotiation method could help the sales offices of the MF to respond to PC requests quickly and flexibly. Rush orders from PC might be acceptable based on the slack gained through the re‐negotiation of co‐operative customers' assigned orders.

There has been a considerable volume of studies on the due‐date assignment, order releasing, and scheduling problems. However, these previous studies considered due‐dates as exogenous parameters or fixed endogenous variables. In this paper, the assigned due‐dates for pre‐contracted co‐operative customers are considered as re‐negotiable variables. On the other hand, most studies on ubiquitous computing technologies, especially those relate to radio frequency identification (RFID), have focused mostly on asset management and processing time reduction. This paper suggests other benefits of increased visibility and traceability of RFID technology in enhancing responsiveness and flexibility in the sales order management system.

The paper aims to propose a novel dynamic tracing task model to enhance the traceability range along the supply chain beyond simple distribution channels. It further extends the study by implementing the system architecture with the proposed data model to support the dynamic tracing task.

Typical processes of supply chain in manufacturing industries using bill of material data to extract and define information requirements are followed. The data elements are systematically selected and explained in the proposed model step by step.

This paper found that existing Radio Frequency IDentification (RFID) data management scheme has to be modified so as to provide end‐to‐end traceability.

Validation of the proposed model and system architecture should be done through actual implementation in industrial settings.

The paper gives an insight to many system managers and executors in how full traceability along the supply chain can actually be realized.

Several studies have discussed the traceability issues but failed to construct a system and methodologies to obtain the full traceability range. However, this paper contributes by presenting the specific methodological steps which can provide powerful solutions to build a system for traceability, exploiting RFID technology.

This paper aims to develop a multi‐criteria approach for determining business models in bottom‐of‐the‐pyramid (BOP) markets.

Analytic network process (ANP) was employed to construct a decision‐making model of quantitative and qualitative factors relevant to BOP markets. Alternatives can be evaluated, respectively, and further business implications can be delivered to decision makers through continuous improvement of the model.

ANP is a tool that can address the interdependencies among decision elements and alternatives in the BOP markets. Moreover, it can be employed in structural analysis of the network of relationships among the selection criteria.

Decision makers can make more informed decisions by using the proposed approach, which is targeted toward BOP customers. This approach also overcomes the flaws of previous approaches.

The successful selection of business models for BOP markets can change how multinational companies think about BOP consumers, allowing the poor to be perceived as value‐demanding customers. In addition, if multinational companies create new local business models, the quality of life of the poor could be improved.

The consideration of interdependencies among the criteria relevant to the selection of successful business models in BOP markets is a novel conceptual contribution.

There have been many studies on topics related to supplier relationship management (SRM), namely purchasing strategy, supplier selection and development, and collaboration with suppliers. However, these studies have not suggested a solution based on an integrative concept, as they focus only on domain‐specific problems. To overcome this limitation, the purpose of this present paper is to suggest a framework for an integrative SRM system by analyzing comprehensive approaches to overall SRM functions.

The paper reviewed and analyzed studies related to SRM from an integrative viewpoint, proposed a framework for an integrative SRM system, and performed a case study based on the analytical hierarchy process with a field survey.

The paper expects that the proposed framework can play a major role in enhancing the efficiency and effectiveness of SRM by adopting an integrative concept because the functions of SRM are highly interrelated. Furthermore, it verifies the applicability of the framework via a case study.

Not many approaches are available for organizing evaluators or evaluation sheets, which are used for selecting criteria, providing weight, and evaluating supplier performance, that can secure objectivity of the evaluation; thus, when applying this framework to the industry, special consideration is needed.

The proposed framework allows the purchasing members to scrutinize key features of SRM before and during the SRM system operation.

The paper provides useful knowledge about the role of SRM systems by holistically approaching SRM‐related processes while suggesting criteria and recommendations to a purchasing manager.