Perceptions of Corporate Social Responsibility Among Indonesian College Students

Ethical consumption studies in developed countries suggest consumers are becoming more ethically minded, as manifested in the shift toward purchasing ethical products. However, little is known about ethical consumption in developing countries, which is problematic because these countries host the greatest share of the world’s youth population. In this study, the authors examine the perceptions and motivations of Indonesian college student consumers toward corporate social responsibility (CSR). The authors find that despite the country-based differences, Indonesian college students express perceptions of CSR similar to those of consumers in developed countries. Furthermore, female consumers have stronger intentions to support ethical products than their male counterparts.     

Timing Movie Release on the Internet in the Context of Piracy

Offering movies on the Internet is one way of combating the issue of online movie piracy, although the tradeoff is the cannibalization of the more revenue-generating channels. Given this tradeoff and the rather unique “staggered window distribution” mechanism followed by the movie industry, this article addresses the problem of when the studio owner should release the movie online to maximize the entire revenue stream of that movie. A general modeling approach that assumes an exponential demand function and fixed release times in the remaining channels is provided. Detailed illustration using three different movie types demonstrates that a high revenue-generating movie should be released online just prior to its home video release, while the online release of an average or below-average movie should coincide with their withdrawal from the theaters. Sensitivity analyses of the results are also displayed and give the circumstances under which a different online release time is warranted. The analysis suggests, among other things, that if a movie has an excellent opening strength and is able to sustain its revenues quite well, it would be more profitable to release the movie online a few weeks before it is withdrawn from the theaters. Additionally, the standard outcomes generated by the model are found to be sensitive to any online per-unit price change.     

The Europeanization of manufacturing and the decentralization of bargaining: multinational management strategies in the European automobile industry

Employee turnover remains to be one of the biggest human resource problems facing the Indian international call center industry. This paper aims to provide a comprehensive study of how the attitudes of call center employees toward different aspects of their work affect their intention to leave. Our specific contribution to the literature is in understanding the heterogeneity among employees and how this affects meaningful inference in studying employees' intention to leave. To achieve this goal, we compare and contrast between traditional ordinary least squares regression models that have been used in the extant literature with latent class analysis. Latent class analysis suggests the presence of three distinct groups of employees, thus confirming the heterogeneity present in the data. The three groups can be represented as the two polar groups, one keen on staying and the other keen on leaving, and a significantly large third group of employees who are unsure. We also find that the impact of different attitudes vary between groups in terms of both economic significance (magnitude of coefficients), and statistical significance. This study throws important light on the research on turnover and has significant research and practical implications.     

Lean Hong Kong Harvest and the Doha Round of Multilateral Trade Negotiations

Abstract

The biennial Ministerial Conferences are the most important event of the WTO regime. The Hong Kong Ministerial Conference was the sixth biennial conference of the WTO, which aimed at a low-level equilibrium and achieved it. While it successfully eschewed another Cancún-like disappointing failure, the Hong Kong Ministerial did not achieve much of substance. If success is defined as not failing, the Hong Kong Ministerial Conference could be adjudged a success. Few bold decisions were attempted and important outstanding decisions were put off for the future. Liberalization of multilateral trade in agriculture was the most important as well as the most contentious issue in Hong Kong. A good number of significant secondary areas were also under negotiations. Core modalities that were to be determined on these issues in Hong Kong were not. A reasonably successful Hong Kong Ministerial Conference would have helped in advancing the Doha Round, which in turn would have meant welfare gains to the global economy, and its different regions and sub-regions. This opportunity was evidently missed.     

Modelling money,price and output in India: a vector autoregressive and moving average (VARMA) approach

This article studies director additions and removals for S&;P 500 firms during the period 2000 to 2003. It finds that firms with smaller board size than estimated efficient levels add more and remove fewer directors than firms with larger board size. It also finds that firms with lower board independence than estimated efficient levels add more and remove fewer independent directors, and add fewer and remove more nonindependent directors than firms with higher board independence. These findings suggest that firms add and remove directors to adjust board structure in a manner consistent with economic efficiency.     

Designing a reverse logistics network for optimal collection, recovery and quality-based product-mix planning

This study proposes an integrated, reverse logistics supply chain planning process with modular product design that produces and markets products at different quality levels. A mixed integer programming (MIP) model formulates the overall planning process required to maximize profit by considering the collection of returned products, the recovery of modules and the proportion of the product mix at different quality levels. This paper proposes the collection of returnables (end-of life, defective, product under warranty) through retail outlets combined with the recovery of modules from the collected products using a network of recovery service providers. The proposed modular product design approach would create a design criterion that provides an improved recovery process at a lower cost. This study uses a total supply chain view that considers the production, transportation and distribution of products to customers, while a numerical problem illustrates the applicability of the models.     

CEO Optimism and the Credibility of Open-Market Stock Repurchase Announcements

Given their low-cost and low level of commitment, open-market stock repurchase announcements are often viewed by the market with a degree of skepticism, leading to a weak initial market reaction followed by positive stock price drifts. The authors argue that the repurchase announcements made by optimistic CEOs should be more credible than those made by nonoptimistic CEOs. Our results show that optimistic CEOs are more likely to actually buy back their shares after the announcements and the abnormal returns following repurchase announcements are larger for optimistic CEOs. This evidence suggests that CEO optimism is an important factor that the market seems to overlook while evaluating the credibility of open-market repurchase announcements. Our main contribution is to link one of the most important managerial traits, optimism, to the open-market repurchases.     

Has co-movement dynamics in emerging stock markets changed after global financial crisis? New evidence from wavelet analysis

In this article, we revisit the issue of contagion, interdependence and changes in correlation structure after the Global Financial Crisis (GFC) of 2008 between developed and emerging markets in a time-frequency domain using a wavelet-based approach for the period spanning over 1 January 1999 to 8 November 2016. We report evidences of: (a) weaker contagion for Latin American emerging markets during GFC, (b) a strong contagion effect for emerging markets in Europe and the Middle East and (c) a fall in long-run co-movements after GFC, which means by investing in emerging markets, the diversification benefits can be derived in the long run. We report evidence of coexistence of contagion and permanent change in correlation structure.     

Healthcare resource utilization with ixazomib or placebo plus lenalidomide-dexamethasone in the randomized,double-blind,phase 3 TOURMALINE-MM1 study in relapsed/refractory multiple myeloma

Aims: The aim of this analysis was to assess healthcare resource utilization in the pivotal phase 3 TOURMALINE-MM1 study of the oral proteasome inhibitor ixazomib or placebo plus lenalidomide and dexamethasone (Rd) in relapsed and/or refractory multiple myeloma (RRMM).

Methods: In this double-blind, placebo-controlled, randomized study (NCT01564537), 722 patients with RRMM following 1–3 prior lines of therapy received Rd plus ixazomib (ixazomib-Rd; n?=?360) or matching placebo (placebo-Rd; n?=?362) until disease progression or unacceptable toxicity. Healthcare resource utilization data were captured on Day 1 of each 28-day cycle, every 4 weeks during follow-up for progression-free survival, and every 12 weeks during subsequent follow-up, and included medical encounters (length of stay, inpatient, outpatient, and reason) and number of missing days from work or other activities for patients and caregivers.

Results: Exposure-adjusted rates of hospitalization were similar between the ixazomib-Rd and placebo-Rd arms, at 0.530 and 0.564 per patient year (ppy), respectively, as were outpatient visit rates (3.305 and 3.355 ppy). Mean length of hospitalization per patient was 10.0 and 10.8 days, respectively. In both arms, hospitalization and outpatient visit rates were higher in patients with two or three prior lines of treatment (ixazomib-Rd: 0.632 and 3.909 ppy; placebo-Rd: 0.774 and 3.539 ppy) compared with patients with one prior line (ixazomib-Rd: 0.460 and 2.888 ppy; placebo-Rd: 0.436 and 3.243 ppy). Patients and their caregivers who missed any work or other activity missed a median of 7 and 5 days in the ixazomib-Rd arm, respectively, vs 8 and 4 days with placebo-Rd.

Limitations: The study was not powered for a statistical comparison of healthcare resource utilization between treatment arms, nor did it capture costs associated with utilization of the identified healthcare resources.

Conclusions: This pre-specified analysis demonstrated that the all-oral triplet regimen of ixazomib added to Rd did not increase healthcare resource utilization compared with placebo-Rd.     

An Empirical Examination of the Divergence between Managers’ and Analysts’ Earnings Forecasts

We study circumstances when analysts’ forecasts diverge from managers’ forecasts after management guidance, and the consequences of this divergence for investors and analysts. Our results show that investors’ return response to earnings surprises based on analyst forecasts is significantly weaker when analyst and management forecasts diverge, and that this attenuating effect is stronger when the management forecast is more credible. When the divergent management forecast is more accurate than the analyst consensus forecast, the subsequent‐quarter analyst consensus forecast is significantly more accurate than that of the current quarter, and exhibits less serial correlation. Overall, our findings suggest that, when analyst and management forecasts diverge, investors find the two sources to contain complementary information, and analysts learn to improve their subsequent forecasts.