Estes' stimulus sampling theory and massed versus spaced advertising schedules

Few studies offer a theoretical explanation of the differential effects of massed and spaced advertising. Consequently, conclusions have been mixed. The authors introduce the stimulus sampling model of spacing effects based on Estes' mathematical learning theory. The model posits that massed repetition generates superior memory at short retention intervals, whereas spaced repetition produces superior memory at longer retention intervals. Data from various studies are analyzed, and implications and potential applications of the model in the advertising context are explored.     

How the Legal System Affects the Equity Mix in Executive Compensation

We examine variation in relative use of equity-based compensation (equity mix) across firms from different legal environments by studying 381 non-US firms from 43 countries during the 1996-2000 period. These firms are from countries that provide varying degrees of legal protection for shareholders. The data indicate association between equity mix and the degree of legal protection of shareholder rights. Specifically, firms use relatively more equity-based compensation if in a legal environment where shareholder rights are more strongly protected and where laws are more effectively enforced. These findings add to the literature demonstrating a relationship between institutional factors and financial decisions.     

How firms compete when they set identical prices: Nonprice strategies in the Indian biscuit industry

How do firms compete when all firms in an industry set identical prices? Using Nielsen data on India's biscuit manufacturers, we document productivity-based competition on nonprice strategies under industry-wide uniform pricing. Products with one standard deviation higher quantity-based productivity contain, on average, 13% more quantity per pack for the same price. Productivity also positively correlates with promotions on pack size, availability, and variety. A higher price (per pack size) sensitivity in rural markets combined with industry-wide uniform pricing imposes a greater burden on rural consumers. Additional analyses show that firms can reduce this burden by selling different pack sizes in urban and rural areas.     

Brand trust and engagement in social commerce

With the surge in social media (SM) users around the world, the scope of social commerce (SC) in brand engagement is a prominent area of discussion. The present study empirically investigates the effect of social commerce construct (SCC), multi-dimensional constructs of social presence theory (SPT) and consumer generated content (CGC) on brand trust and brand engagement in SC platforms. An online survey was conducted among 625 Indian consumers who had made more than one purchase using SC platforms in the previous 6 months. Structural equation modelling technique was employed for testing the hypotheses and conceptual model. The results suggest that each element of SCC, SPT and CGC positively contributes to brand trust and engagement. Further, the study provides insight into brand trust and brand engagement in SM, which prompts brand usage intention of the consumers. The insights can be used by managers to create long-term customer relationship management action plans that emphasize brand trust and engagement.     

Blockchain application in consumer services: A review and future research agenda

The potential of blockchain technology (BCT) to modify and innovates established business structures and frameworks has received widespread attention. Academia and businesses are becoming increasingly curious about how this technology could be used to improve and refine consumer services and operations. Despite the growing popularity of blockchain research in consumer services, there remains a dearth of detailed summaries in the literature. Hence, this bibliometric analysis, combined with a systematic literature review (SLR) using SPAR-4-SLR protocol with the theories, characteristics, contexts, and methods framework (A hybrid review), aims to convey qualitative and quantitative knowledge on the ever-evolving subject of blockchain application in consumer services in an organized manner. Specifically, this article analyses: (1) the current publication trends in studies devoted to blockchain-based applications for consumers, (2) the most important publications and themes of research in this field, (3) the evolution of blockchain in consumer service over the years, and the most current trends in this field, (4) the advantages and challenges of incorporating BCT into consumer services, (5) gaps in the existing literature that future researchers should investigate. In addition, this review also describes the widely used theories, characteristics, and methods in the application of blockchain in consumer service research by examining the most applied theories, methods, constructs, and study contexts and paving the way for new research directions. The review includes 417 documents after searching for scholarly publications in two databases (Web of Science and Scopus) and choosing documents based on their relevance to the stated goals.     

Influence of endogenous reference points on the selling decisions of retail investors

Using trader-level data, we examine the impact of the stock-specific endogenous reference points, the ‘realized-return’ and the ‘peak-return’ of the prior round on the selling propensity in a subsequent investment round in the same asset. The selling propensity rises significantly near the endogenous reference points. The significance is greater when the holding period is relatively shorter and when the time gap between the consecutive rounds is lower, implying a recency effect. Finally, the impact is more substantial on traders holding fewer stocks. The results imply that traders' prior stock-specific experience plays a significant role in the reference point formation.