Cross-National Study on the Perception of the Korean Wave and Cultural Hybridity in Indonesia and Malaysia Using Discourse on Social Media

The influence of transportation, social norms, cultural identity, and affective disposition in transnational media enjoyment

Background

The globalization of the media market is forcing decision-makers to understand the psychological processes behind local audiences' enjoyment of foreign TV dramas. Transportation is a well-established psychological theory and framework utilized to elucidate and anticipate audience engagement and enjoyment in the cognitive process of experiencing a narrative text. Although there is a substantial body of literature on transportation and media enjoyment, there is a noticeable absence of studies on the relationship between audiences being "transported" into the narrative world of TV dramas and, particularly, the pleasure audiences derive from interacting with media content within a cross-cultural acceptance context.

Method

The research employs a quantitative design, with responses collected from 353 students enrolled at a Malaysian public university. It aims to validate the influence of social norms, cultural identity, and affective disposition on narrative immersion while watching foreign TV dramas, as well as the subsequent enjoyment of media among local audiences.

Results

The results indicate that social norms, cultural identity, and affective disposition significantly influence transportation and enjoyment. Furthermore, the influence of cultural identity on social norms has a positive moderating effect on transportation.

Discussion

Storytelling that complies with social norms while offering new perspectives can maximally engage audiences, potentially altering their narrative cognition and deepening their immersion in fictional narratives. Cultural identity can shape audience perceptions and reactions to cross-cultural media consumption, ultimately influencing the degree to which audiences are drawn into the narrative. Furthermore, the audience's emotional connection to characters in the narrative or to situations in the drama significantly influences the overall cognitive and immersion levels.

How CSR influences young Chinese consumers' purchase decisions towards Western brands: the moderating effect of consumer ethnocentrism

Purpose

The objectives of this study are to examine the impacts of CSR on purchase intentions either directly or indirectly and to investigate the moderating effects of consumer ethnocentrism on the relationship between CSR and purchase intentions.

Design/methodology/approach

This study utilized an online self-administered survey for data collection. All the measurement items were adopted or adapted from prior research concerning international marketing (Churchill, 1979). Concerning rating scales, the items of CSR, brand attitudes, and consumer ethnocentrism were measured from 1 (strongly disagree) to 7 (strongly agree), and the items of purchase intentions were measured from 1 (strongly disagree) to 5 (strongly agree).

Findings

The empirical findings suggest that CSR significantly influences purchase intentions directly and indirectly via brand attitudes. Besides, consumer ethnocentrism strengthens the positive effects of CSR on brand attitudes and purchase intentions.

Originality/value

This research sheds light on young Chinese consumers' purchase behaviors, which could facilitate Western brands implementing effective and efficient marketing strategies in the Chinese market.

GARCH (1,1) Models and Analysis of Stock Market Turmoil during COVID-19 Outbreak in an Emerging and Developed Economy

COVID-19 pandemic has led to uncertainties in the financial markets around the globe. The pandemic has caused volatilities in the financial market at varying magnitudes, in the emerging versus developed economy. To examine this phenomenon, this study investigates the impact of COVID-19 pandemic on stock market returns and volatility in an emerging economy, i.e., Indonesia, versus developed country, i.e., Hungary, using an event-study approach methodology utilizing GARCH (1,1) model. In this study, the Jakarta Composite Index (JCI) and the b (BUX) data were obtained from Investing and Bloomberg, covering two global events observed within the selected period from 27 September 2006 to 31 August 2021. The data is compared with the stock market volatility data from the global financial crisis in 2007/08. Findings reveal that the recent COVID-19 pandemic had negative stock market returns at a greater magnitude compared to the global financial crisis, in both the emerging and developed economy’s equity market. Stock markets in Indonesia and Hungary have experienced volatility during the crisis. While comparing the result between COVID-19 and the global financial crisis, we found that the volatility on the stock markets is higher in the COVID-19 pandemic than during the global financial crisis. The higher stock market negative returns and volatility during the COVID-19 pandemic triggered the lockdown and limited economic activities, which impacted supply and demand shock. The virus’s propagation and mutation are continually evolving, reminding us that the pandemic is far from over. Developed countries with larger fiscal space seem to find it easier to make responsive policies than countries with a tighter financial budget. Fiscal and monetary policies seem to be a quick solution to stabilize the economy and maintain investor confidence in the Indonesian and Hungarian capital markets. Furthermore, the extension of stock market volatility understanding ensures relevant information for investors, which benefits to mitigate the risk and build sustainable investments of the unprecedented events and enables the promotion of Sustainable Development Goal number 8 (SDG8) to communities, with access to financial products including the stock market, especially during economic and financial uncertainties.

Competitive Factors of Fashion Retail Sector with Special Focus on SMEs

Nowadays small and medium sized enterprises have become increasingly important in contribution to job creation and economic growth both in national and European level. Considering the rapidly and continuously changing business environment, due to the impacts of globalization and concentration, staying competitive is a great challenge for companies in the 21st century, especially in fashion retail sector. The current paper is intended to map the current situation of the sector—focusing primarily on SMEs—through the extensive literature review; and provide a better understanding of sector-specific competitive factors in fashion industry. The research methods are the analysis of different related articles, reports and other scientific literature sources, in-depth interviews and questionnaire survey. The survey was validated by confirmatory factor analysis, data were analyzed and evaluated through PLS-SEM model. The main findings of the study show that the most important competitive factor is the compliance with consumer needs. Furthermore, the research also points out that SME sector lag behind chains, thus, they need to focus more on better understanding and meeting consumer expectations. In this activity, it would be useful if they received EU and domestic support for educational assistance.