Pub Date : 1999-08-01DOI: 10.30166/PPMR.199908.0006
FongLing Fu Linda, Yi-Ling Lin, Jacob Y. H. Jou
This study examined the differences of moral intensity as well as the influence of the moral intensity on ethical decision- making (EDM) between American and Taiwanese marketers. The instrument was adopted from Singhapakdi's [21]. As expected, American marketers got higher mean scores on all the components of moral intensity regarding the perceived potential harm. The components were magnitude of consequence, probability of effect, temporal immediacy, and concentration of effect. Cultural factors developed by difference between two societies. The relationships between the moral intensity to Hofstede [9] were used to explain the ethical perceptions and to ethical intentions were supported both by Singhapakdi [21] and by this research. That implied cultural factors affect people's ethical perception through the effect on their perceived moral intensity.
{"title":"Moral Intensity and Ethical Decision Making of Marketing Professionals-A Comparision of American and Taiwanese Marketers","authors":"FongLing Fu Linda, Yi-Ling Lin, Jacob Y. H. Jou","doi":"10.30166/PPMR.199908.0006","DOIUrl":"https://doi.org/10.30166/PPMR.199908.0006","url":null,"abstract":"This study examined the differences of moral intensity as well as the influence of the moral intensity on ethical decision- making (EDM) between American and Taiwanese marketers. The instrument was adopted from Singhapakdi's [21]. As expected, American marketers got higher mean scores on all the components of moral intensity regarding the perceived potential harm. The components were magnitude of consequence, probability of effect, temporal immediacy, and concentration of effect. Cultural factors developed by difference between two societies. The relationships between the moral intensity to Hofstede [9] were used to explain the ethical perceptions and to ethical intentions were supported both by Singhapakdi [21] and by this research. That implied cultural factors affect people's ethical perception through the effect on their perceived moral intensity.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121738926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1999-08-01DOI: 10.30166/PPMR.199908.0001
L. Hsueh
Convertible bonds (CBs) have gradually become a major funding tool for Taiwan corporations in recent years. The complexity of this hybrid instrument, as well as the unique conversion procedure involved, make the valuation of GB difficult for many local investors. Anecdotal evidence shows seemingly arbitrage opportunities for GB trading and its periodically erratic price movements also convinced many that the instrument may be mispriced in the market. In this study, we take on the issue of pricing efficiency of CBs in Taiwan and investigate the validity of those claims. Using a sample of local convertibles, we first examine the consistency of GB market prices and then investigate their price behavior for possible violations of pricing efficiency. Our results support pricing efficiency of CBs in. Taiwan.
{"title":"An Examination of the CB Pricing Efficiency in Taiwan","authors":"L. Hsueh","doi":"10.30166/PPMR.199908.0001","DOIUrl":"https://doi.org/10.30166/PPMR.199908.0001","url":null,"abstract":"Convertible bonds (CBs) have gradually become a major funding tool for Taiwan corporations in recent years. The complexity of this hybrid instrument, as well as the unique conversion procedure involved, make the valuation of GB difficult for many local investors. Anecdotal evidence shows seemingly arbitrage opportunities for GB trading and its periodically erratic price movements also convinced many that the instrument may be mispriced in the market. In this study, we take on the issue of pricing efficiency of CBs in Taiwan and investigate the validity of those claims. Using a sample of local convertibles, we first examine the consistency of GB market prices and then investigate their price behavior for possible violations of pricing efficiency. Our results support pricing efficiency of CBs in. Taiwan.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130536321","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1999-08-01DOI: 10.30166/PPMR.199908.0005
Cheng-Hsui Chen
The purpose of this paper is to clarify the central issue of standardization versus adaptation debated in international marketing and complement this knowledge with an implementation strategy. According to the literature and a case study of three MNCs in Asia Pacific region, this paper suggests that a proper dividing line between standardization and adaptation should be based on the ”strategic components” of marketing mix strategy, which include brand name, product features, packaging graphics, and advertising strategy. Regional standardization is the first step for international brand marketing before global standardization. This is a new emerging concept of ”regional standardization on strategic components, local adaptation on executional components.” Five research propositions have been developed with discussions.
{"title":"An Alternative of International Brand Marketing: Regional Standardization on Strategic Components of Marketing Mix","authors":"Cheng-Hsui Chen","doi":"10.30166/PPMR.199908.0005","DOIUrl":"https://doi.org/10.30166/PPMR.199908.0005","url":null,"abstract":"The purpose of this paper is to clarify the central issue of standardization versus adaptation debated in international marketing and complement this knowledge with an implementation strategy. According to the literature and a case study of three MNCs in Asia Pacific region, this paper suggests that a proper dividing line between standardization and adaptation should be based on the ”strategic components” of marketing mix strategy, which include brand name, product features, packaging graphics, and advertising strategy. Regional standardization is the first step for international brand marketing before global standardization. This is a new emerging concept of ”regional standardization on strategic components, local adaptation on executional components.” Five research propositions have been developed with discussions.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"158 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131573624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1999-08-01DOI: 10.30166/PPMR.199908.0004
C. Kuo
In valuing foreign currency futures options, it has been common to assume that the Interest Rate Parity is correct, and forward and futures contracts are perfect substitutes for each other. It is conceivable that this practice may bring in institutional bias, especially as the life of a futures contract increases and the interest rates are not constant. In this paper we develop a generalized analytic framework for valuing currency futures options. The framework is general in the sense that it is consistent with the current models, can incorporate dynamic volatility and dynamic term structure of interest rates, while not making the unnecessary assumptions.
{"title":"A Generalized Framework for Valuing Currency Futures Options","authors":"C. Kuo","doi":"10.30166/PPMR.199908.0004","DOIUrl":"https://doi.org/10.30166/PPMR.199908.0004","url":null,"abstract":"In valuing foreign currency futures options, it has been common to assume that the Interest Rate Parity is correct, and forward and futures contracts are perfect substitutes for each other. It is conceivable that this practice may bring in institutional bias, especially as the life of a futures contract increases and the interest rates are not constant. In this paper we develop a generalized analytic framework for valuing currency futures options. The framework is general in the sense that it is consistent with the current models, can incorporate dynamic volatility and dynamic term structure of interest rates, while not making the unnecessary assumptions.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"146 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114114372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1999-08-01DOI: 10.30166/PPMR.199908.0003
Hsinan Hsu, J. Jeng
The purposes of this paper has twofold. One is to demonstate the replication of the Straddle position and the other is to examine its performance in the Taiwan stock market. We use the Taiwan Stock Exchange Index (TAIEX) and interest-rate of savings account to replicate Straddle position and compare its performance with dynamic portfolio insurance strategy and buy-and-hold strategy. The results indicate that (1) for synthetic Straddle strategy, the terminal values of assets are significantly reduced when transations costs are considered, but the influence between adjustment rules is insignificant; (2) Returns on synthetic Straddle strategy are relatively higher than those on synthetic puts or buy-and-hold strategies; (3) In bull markets, synthetic Straddle strategy performs best. In bear market, although synthetic put does provide insurance function, synthetic Straddle strategy can earn more positive returns. Finally, in correction markets, synthetic Straddle strategy performs worst; (4) The impact of stock price volatities on the performance of synthetic Straddle strategy is very significant; (5) Synthetic Straddle strategy obviously could not provide a stable return. inflow; And (6) the selection of investment strategies depends on the risk tolerance of investors. It seems that conservative investors will select portfolio insurance strategy, while only risk lovers can endure the Straddle strategy which is characterized by high risk and high return.
{"title":"Replication of Straddle Position and Evaluation of Its Performancein the Taiwan Stock Market","authors":"Hsinan Hsu, J. Jeng","doi":"10.30166/PPMR.199908.0003","DOIUrl":"https://doi.org/10.30166/PPMR.199908.0003","url":null,"abstract":"The purposes of this paper has twofold. One is to demonstate the replication of the Straddle position and the other is to examine its performance in the Taiwan stock market. We use the Taiwan Stock Exchange Index (TAIEX) and interest-rate of savings account to replicate Straddle position and compare its performance with dynamic portfolio insurance strategy and buy-and-hold strategy. The results indicate that (1) for synthetic Straddle strategy, the terminal values of assets are significantly reduced when transations costs are considered, but the influence between adjustment rules is insignificant; (2) Returns on synthetic Straddle strategy are relatively higher than those on synthetic puts or buy-and-hold strategies; (3) In bull markets, synthetic Straddle strategy performs best. In bear market, although synthetic put does provide insurance function, synthetic Straddle strategy can earn more positive returns. Finally, in correction markets, synthetic Straddle strategy performs worst; (4) The impact of stock price volatities on the performance of synthetic Straddle strategy is very significant; (5) Synthetic Straddle strategy obviously could not provide a stable return. inflow; And (6) the selection of investment strategies depends on the risk tolerance of investors. It seems that conservative investors will select portfolio insurance strategy, while only risk lovers can endure the Straddle strategy which is characterized by high risk and high return.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129903531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-08-01DOI: 10.30166/PPMR.199808.0007
Shyh-Rong Fang
The manufacturing strategy means to highly evaluate the procactive part the manufacturing function takes, and furthermore to make it become a competing asset or arms of the corporation. However, how the corporation can, effectively take the advantage of the manufacturing function to gain competence is heavily depended on the role the manufacturing department plays. In this regard, ”the manufacturing strategic role” has a profound influence on its manufacturing strategy. The purpose of this research is to study the linkage of manufacturing strategic role; manufacturing competence and corporation performance, and adopts empirical research for information/electronic industry on Taiwan. We use LISREL model to complete this empirical research. The major conclusions of this research are summarized as follower: The paper has developed a theoretical model, and it has significant statistical meanings. Furthermore, the manufacturing strategic role has effect on both the manufacturing competence and corporation performance. Thus this theoretical model has been verified.
{"title":"An Empirical Study of Manufacturing Competence","authors":"Shyh-Rong Fang","doi":"10.30166/PPMR.199808.0007","DOIUrl":"https://doi.org/10.30166/PPMR.199808.0007","url":null,"abstract":"The manufacturing strategy means to highly evaluate the procactive part the manufacturing function takes, and furthermore to make it become a competing asset or arms of the corporation. However, how the corporation can, effectively take the advantage of the manufacturing function to gain competence is heavily depended on the role the manufacturing department plays. In this regard, ”the manufacturing strategic role” has a profound influence on its manufacturing strategy. The purpose of this research is to study the linkage of manufacturing strategic role; manufacturing competence and corporation performance, and adopts empirical research for information/electronic industry on Taiwan. We use LISREL model to complete this empirical research. The major conclusions of this research are summarized as follower: The paper has developed a theoretical model, and it has significant statistical meanings. Furthermore, the manufacturing strategic role has effect on both the manufacturing competence and corporation performance. Thus this theoretical model has been verified.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1998-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123578341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1997-08-01DOI: 10.30166/PPMR.199708.0007
Chengxin Chen, M. Lai, David D. C. Tarn
Wife relative influence (i.e., HWRI) on family purchase decision-making in Taiwan, which is a benchmark of developed countries in Asia. Feminism orientation and two product attributes (function-appearance and high-low financial risk) are posed as independent constructs for testing HWRI. Questionnaires are used to survey HWRI and feminism orientation of respondents in Taiwan. And LISREL model is used to test. causality path effect between feminism orientation and HWRI. The results indicate that Taiwanese families make purchase decisions in a syncretic (i.e., husband-wife joint) way, with slightly husband dominance. And the relationships among feminism orientation, product attributes and HWRI are confirmed via the empirical evidence.
{"title":"Feminism Orientation, Product Attributes and Husband-Wife Relative Influence on Family Purchase Decision: An Empirical Study in Taiwan","authors":"Chengxin Chen, M. Lai, David D. C. Tarn","doi":"10.30166/PPMR.199708.0007","DOIUrl":"https://doi.org/10.30166/PPMR.199708.0007","url":null,"abstract":"Wife relative influence (i.e., HWRI) on family purchase decision-making in Taiwan, which is a benchmark of developed countries in Asia. Feminism orientation and two product attributes (function-appearance and high-low financial risk) are posed as independent constructs for testing HWRI. Questionnaires are used to survey HWRI and feminism orientation of respondents in Taiwan. And LISREL model is used to test. causality path effect between feminism orientation and HWRI. The results indicate that Taiwanese families make purchase decisions in a syncretic (i.e., husband-wife joint) way, with slightly husband dominance. And the relationships among feminism orientation, product attributes and HWRI are confirmed via the empirical evidence.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1997-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130980401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.30166/PPMR.201001.0001
Huei-Chen Hsu
This paper reviews the application of ELM to understand how men and women differ in their evaluation of information content and the visual presentation used in web advertising. It verifies the ELM by examining several variables influencing consumers' beliefs of web ads. These variables include (a) advertising appeals (rational/emotional), (b) personal and product involvement (high/low), (c) the gender (female/male). A survey of 591 Internet users investigated by which a 2×2×2 ANOVA between-subjects experimental design is used to guide the research design and the systematic analysis procedure. The result of this finding is that in high-involvement situations, people are more likely to click a Web ad with a rational advertising appeal contrast than an ad with an emotional advertising appeal. Also we find that a rational advertising appeal ad contrast than an emotional advertising one is evaluated more favorably by males than females. Managerial implications for the user of these ad execution cues are discussed and future research avenues are proposed.
{"title":"How Can Web Advertising Influence Male and Female Beliefs","authors":"Huei-Chen Hsu","doi":"10.30166/PPMR.201001.0001","DOIUrl":"https://doi.org/10.30166/PPMR.201001.0001","url":null,"abstract":"This paper reviews the application of ELM to understand how men and women differ in their evaluation of information content and the visual presentation used in web advertising. It verifies the ELM by examining several variables influencing consumers' beliefs of web ads. These variables include (a) advertising appeals (rational/emotional), (b) personal and product involvement (high/low), (c) the gender (female/male). A survey of 591 Internet users investigated by which a 2×2×2 ANOVA between-subjects experimental design is used to guide the research design and the systematic analysis procedure. The result of this finding is that in high-involvement situations, people are more likely to click a Web ad with a rational advertising appeal contrast than an ad with an emotional advertising appeal. Also we find that a rational advertising appeal ad contrast than an emotional advertising one is evaluated more favorably by males than females. Managerial implications for the user of these ad execution cues are discussed and future research avenues are proposed.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127600169","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.30166/PPMR.200501.0002
Ming-Hsiang Chen
This study examines the effects of the 2002 World Cup on stock markets of two host countries (Japan and South Korea). Stock returns and their volatility are analyzed using the GARCH (1, 1) model with game dummy variables. Although no significant impacts are found on the overall stock markets in South Korea and Japan, some industry portfolios are sensitive to the World Cup event. The World Cup kick-off game effect and the individual game effect are also detected. Further, we find that the individual game effect has a stronger influence on emerging financial markets than developed financial markets.
{"title":"Japanese and Korean Stock Market Reactions to the 2002 World Cup","authors":"Ming-Hsiang Chen","doi":"10.30166/PPMR.200501.0002","DOIUrl":"https://doi.org/10.30166/PPMR.200501.0002","url":null,"abstract":"This study examines the effects of the 2002 World Cup on stock markets of two host countries (Japan and South Korea). Stock returns and their volatility are analyzed using the GARCH (1, 1) model with game dummy variables. Although no significant impacts are found on the overall stock markets in South Korea and Japan, some industry portfolios are sensitive to the World Cup event. The World Cup kick-off game effect and the individual game effect are also detected. Further, we find that the individual game effect has a stronger influence on emerging financial markets than developed financial markets.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115790829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.30166/PPMR.199808.0003
D. Paper, J. Rodger, R. Chang
The purpose of this paper is to examine the relationship between worker empowerment, business process reengineering, and total quality management in organizations. Past research has hinted at the potential of these approaches to increase productivity and quality while reducing wasteful practices. However, we found no research in IS journals depicting trinary relationships linking the these three constructs. Therefore, we begin to develop three propositions from the existing literature. The propositions depict binary relationships between the three constructs. To initially assess the relationships, we interviewed three organizations. Analysis of the data allowed us to classify each organization against various factors related to each construct. The classification table provides a fundamental analysis of trinary relationships between the three constructs. The classification table provides a fundamental analysis of trinary relationships between the three constructs. We intend to extend the study by developing a questionnaire for national mailing. Eventually, we hope to develop a theoretical model and a detailed set of guidelines for organizations attempting to effectively change management.
{"title":"Linking TQM, BPR, and Empowerment: A Field Study","authors":"D. Paper, J. Rodger, R. Chang","doi":"10.30166/PPMR.199808.0003","DOIUrl":"https://doi.org/10.30166/PPMR.199808.0003","url":null,"abstract":"The purpose of this paper is to examine the relationship between worker empowerment, business process reengineering, and total quality management in organizations. Past research has hinted at the potential of these approaches to increase productivity and quality while reducing wasteful practices. However, we found no research in IS journals depicting trinary relationships linking the these three constructs. Therefore, we begin to develop three propositions from the existing literature. The propositions depict binary relationships between the three constructs. To initially assess the relationships, we interviewed three organizations. Analysis of the data allowed us to classify each organization against various factors related to each construct. The classification table provides a fundamental analysis of trinary relationships between the three constructs. The classification table provides a fundamental analysis of trinary relationships between the three constructs. We intend to extend the study by developing a questionnaire for national mailing. Eventually, we hope to develop a theoretical model and a detailed set of guidelines for organizations attempting to effectively change management.","PeriodicalId":431367,"journal":{"name":"Pan-Pacific Management Review","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121942915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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