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Using Hasbrouck’s (1995, 2002) information share method, we examine the mutual price discovery dynamics among Won/Dollar spot, forward, and NDF exchange rates in on- and off-shore FX markets. Our findings include : (i) During the entire period, the mutual price discovery between on-shore FX market and off-shore NDF market are significantly led by on-shore Won-Dollar spot and forward exchange rates. (ii) Within the period around the global crisis, NDF exchange rates have mutual influence on the price discovery, which is expecially greater than the any other period. The results show Won-Dollar spot exchange rate fluctuations during the global crisis are greatly affected by external factors of the international financial markets. Not only that, but off-shore NDF trading promptly reflects the price information of KRW on the factors.

This paper empirically analyzes the price discovery process between Korean sovereign CDS premium, spread of Korean government debt, Won-Dollar currency swap rate, and Won-Dollar FX rate. With the global financial and fiscal crisis, especially in the U.S. and Euro-zone, the interests in sovereign default risk have risen. Interests in CDS, an OTC credit derivative contract based on debt issuer’s default risk, also have increased.

A large number of presses have reported that CDS premium would be the best international market indicator for the default risk taken or transferred. However, internationally the CDS market liquidity has not been sufficient enough to validate its properties. Hence, based on empirics, this paper discusses whether Korean sovereign CDS premium can be considered as an appropriate indicator of sovereign credit risk in the Korean economy. Other largely accepted indices which contain the similar information about Korean economic fundamental and Korean external sovereign credit risk are also analyzed and compared: the spread of Korean government debt, Won-Dollar Currency Swap Rate, and Won-Dollar FX rate.

Our findings include: (a) in the price discovery process, Won-Dollar spot rate contributes to the price discovery especially most ‘during the financial crisis period’ and the ‘entire period’ (b) Within the period ‘after the financial crisis’, CDS premium and the other indices have mutual influences on the price discovery process higher than the period ‘before the financial crisis’ (c) while Won-Dollar forward rate shows the similar result with Won-Dollar spot rate, NDF rate and CDS premium make the largest mutual influence on price discovery in the period ‘before the financial crisis.’

The purpose of this paper is to examine spectator perceptions of service quality at the Formula One (F-1) event in Shanghai by means of Martilla and James’ Importance and Performance Analysis (IPA).

The items were plotted on the four IPA dimensions, including: Concentrate Here; Keep Up the Good Work; Lower Priority; and Possible Overkill.

The results indicated that staff courtesy seems to be the strength of the event. However, concession quality, food prices, and arena accessibility, including restrooms at the Shanghai F-1 event, did not meet spectators’ expectations. In addition, the results suggested that in any spectator sporting event, food consumption helps to create a positive experience. Therefore, IPA revealed that service quality related to concessions, food pricing, and arena accessibility at the Shanghai F-1 are in need of immediate improvement, whereas staff courtesy and race visuals were satisfactory.

The findings will help marketers prioritize certain services and offer strategic direction in effective service provision by highlighting management problems.

The purpose of this paper is to examine salient mechanism by which the quality of political and administrative leadership might influence employee engagement in public sector organizations through public service motivation (PSM). Specifically, the purpose of the paper is twofold. First, the psychological outcomes of quality of leadership perceptions among public employees are identified. Second, how PSM mediates the influence of leadership quality perceptions on employee engagement is examined.

This study uses the US Merit System and Protection Board’s (MSPB) 2010 Merit Principles Survey. To establish the distinctive validity of the constructs, the authors performed exploratory factor analysis and confirmatory factor analysis for latent variables, and subsequently conducted validity and reliability analyses. The authors performed a structural equation model to determine relationship between quality of political and administrative leadership, PSM, and employee engagement.

The results reveal that the quality of political and administrative leadership is positively related to PSM and employee engagement. This study also confirmed the mediating role of PSM on the relationship between the quality of political and administrative leadership.

The paper expands the literature through studies that may discover critical mechanisms that are of significance in enhancing employee engagement such as quality of leadership depicted in political and administrative leaders and PSM. While previous studies have extensively explored several antecedents of employee engagement, research focusing on the role of quality in public sector leadership and PSM remains limited.

Enterprise systems are commonly implemented by firms through outsourcing arrangements with software vendors. However, deriving benefits from these implementations has proved to be a challenge, and a great deal of variation has been observed in the extent of value generated for client and vendor firms. This research examines the role of co-specialization as a strategy to make the most out of outsourced enterprise systems. The authors develop hypotheses relating resource co-specialization with two indicators of success for implementation of enterprise software: (1) exchange success and (2) firm growth.

The hypotheses are tested using a unique panel data set of 175 firms adopting Advanced Planning and Scheduling (APS) software, a type of enterprise system used for managing manufacturing and logistics. The authors identify organizational factors that support co-specialization and then examine how co-specialization is associated with enterprise software implementation success, controlling for the endogenous choice to co-specialize.

The empirical results suggest that resource co-specialization is positively associated with implementation success and that the two resource co-specialization pathways that are examined complement each other in providing performance benefits.

This paper contributes to the research literature on outsourcing. The study also provides a new empirical test using a unique data set of 175 firms adopting APS Software.

Civil society is increasingly digitized and virtual in many parts of the globalized world of today. The networked society and the invisible “second economy” (Arthur, 2011) which powers the developed and developing countries generate debates about the degree to which the benefits outweigh the potential hazards. Artificial intelligence (AI) powered by its machine learning underpin much of the digital networked systems, and “free” services such as search engines, paid for by the “tailored advertising” we get when we view webpages. Most now recognize that the helpful “suggestions” on the web are simply adverts personally targeted at individuals who have searched for information on a topic or visited a webpage with sponsored material and cookies.

There have been cases of major political misuse of data such as the voter manipulation by the Cambridge Analytica company. We are not just referring to the hacking and “fake news” used by some governments to influence the affairs of another country. Some organizations have used AI to cynically target consumers’ weaknesses, for example, in financial management (Larsson, 2018).

Perhaps more significantly the network technology is often promoted as having potential for improving civil society through “failsafe” or default forms of regulation using the embedded Apps in domestic equipment and algorithms in much the same manner it is suggested that automatic self-driving vehicles help to improve road safety by cautious driving and sticking to speed limits and so on (Cockburn, Jahdi, & Wilson, 2015, pp. 6–7). However, algorithms and the associated machine technology have also been described as a “black box” technology where even those people running the algorithms cannot always fully understand or explain how decisions are reached in diverse systems used to evaluate many things from medical care to credit rating and finance (Danaher et al., 2017). There are issues of the budding “surveillance society” emerging from the proliferating “intelligent” apps enabling corporate “spying” on our everyday lives as some hackers have done by tapping into baby monitoring systems in homes. In addition to hacking there are large power asymmetries involved as between commercial data users and the lay public who are often the data suppliers as their personal data are harvested each time the web is used.

Therefore, it is hardly surprising that, according to the Pew Research Center report by Aaron Smith, released in November 2018, over half of Americans surveyed found it unacceptable to use algorithms to make decisions with real-world consequences for humans. In the age of connectedness and the emergent internet of things many people are not yet ready to cede more control of their currently offline lives to current online technology. This chapter reviews arguments for and against algorithmic governance.

Machine learning systems may be efficient to a high degree without being unbiased in impact across different segments of society. AI may also be fully effective in its operation without even being fully understood because the decision-making is so arcane. Importantly, though, even for those systems that have some human mediation or supervision, societal regulation is aimed at ensuring ends and means are aligned with human social, political and economic justice and thus socially effective as well as being technically efficient. Consequently, these systems have to require socio-emotional as well as cognitive safeguards. Although levels of implicit trust may vary demographically as between say millennials and baby boomers, high levels of trust, accountability and a culture of moral integrity must still form the bedrock for societal benefits.

The purpose of this paper is to investigate the role of non-profit service motivation (NPSM) as a cognitive dimension in the enhancement of managerial accountability of Korean NGO employees. Hypotheses and a research model were designed to determine the antecedent and consequence factors of NPSM from the perspective of the self-determinants theory, social learning theory, and social exchange theory.

This study relies on quantitative data obtained from Korean NGO survey questionnaires. The sample consists of 400 employees working for NGOs. The performance evaluations were conducted within a one-year period.

Results of the study demonstrate that training and development are the keys to leading employees’ value congruence and motivation. The authors also confirmed that person-organizational (P-O) fit is directly associated with NPSM. Finally, intrinsically motivated NGO employees would boost the level of managerial accountability among the Korean NGO employees through organization and socialization.

Through applying Perry’s original public service motivation (PSM) scale including rational, normative, and affective values, the exploratory factor analysis and confirmatory factor analysis results confirmed that the constructs of NPSM were valid and reliable in the Korean NGOs. Additionally, it might also explain the locus of causality of self-determination theory, and how it changes people’s motivation. Finally, the authors confirmed that organizational systems are notable in terms of increasing P-O fit, strengthening intrinsic motivation, and increasing organizational consequences.

This study confirms that human resource development (HRD) practices and performance management system (PMS) act as very effective managerial tools for nurturing positive and constructive social exchange relationships between organizational constituents, and for developing human resources in the NGOs. This is evident in cases of individuals being given extensive participation rights when it comes to decision making (Leana et al., 1992; Mayer and Schoorman, 1998). The benefit of this reality is twofold: it strengthens individuals’ perceptions of self, fostering intrinsic motivation, and it also acts as a buffer of sorts between individuals and external pressures, weakening extrinsic motivation.

There exists a notion that well-made organizational systems and policies should be regarded as more important because certain informal or relational social interactions and communications (e.g. HRD programs) or PMS policies (e.g. service monitoring systems, finance monitoring systems, and HR and organizational monitoring systems) prevail in the cultural characteristics of NGOs. Based on this notion, allowing P-O fit, intrinsic motives, and accountable behaviors to function as invisible but very persuasive norms, rules, and informal regulations for leaders and subordinates will help make NGOs successful.

Given that most Korean non-profit organizations are very small and lack formal HR departments or functions, it is possible that this lack of formality has been somewhat responsible for the shortage of research on the outstanding aspects and issues surrounding non-profit HR management and the motivation of non-profit employees. However, as the non-profit sector has become more professionalized and specialized in terms of training, development, and identity, the need to understand HR issues and employee motivation is vital to improve both employee management and organizational strategies. The aim of this research is to further the understanding of what makes the non-profit workforce distinct. The authors believe that the similarities in terms of motivation for public and non-profit employees allowed us to use a modified version of Perry’s (1996) scale in the study to examine NPSM. However, drawing on these various and diverse perspectives on PSM and NPSM, especially in the Korean context, the authors define NPSM as “intrinsically and voluntarily driven attitudes and dispositions that lead to more service delivery, fundraising, and volunteering activities in the non-profit agencies.”

The purpose of this paper is to statistically test if the public service motivation (PSM) measure operates in the same way across the public and private sectors of a municipal district in China. It also contrasts the relationship between PSM and workplace outcomes across sectors and employee age groups.

Survey data from independent samples of public (n=220) and private (n=230) sector employees in the Changsha Municipal District of China is used. The analysis tests for invariance across groups, before comparing mean values and regression weights.

Only in respect of one PSM dimension do findings show a significant higher mean in the public sector. No significant difference is found on the impact of PSM on employee performance across sectors, while it is in the private sector that PSM has the greater impact on intention to leave. Findings also show no marked impact of age upon outcomes.

This study provides an initial set of results and further research will need to be undertaken to verify them. The limited sample size and narrow geographical focus, although in line with similar studies on China, means the ability to draw generalisations is limited. The reliance on self-reported measures means issues with common method bias cannot be ignored. Measures were taken during data collection to minimise issues of bias and a set of post-hoc test results are provided.

The recruitment of employees with higher levels of PSM can be expected to play a role in achieving better outcomes, regardless of sector and age profile.

The PSM measure has been applied by researchers across various economic sectors. This paper is one of the first to statistically test if the concept and its measure operates in the same way across sectors. The paper contributes to the on-going debate on PSM in the context of China and its relationship with a number of key output variables. Finally, the paper contributes to the emerging debate on changing workforce demographics and their role in shaping outcomes.