Key service innovation drivers in the tourism sector: empirical evidence and managerial implications

This study highlights the importance of market orientation and the use of information and communication technologies (ICT) as determinants of service innovation activity for companies in the tourism sector. In doing so, the study provides a means to classify companies as innovative or not. Using a sample of 100 Spanish firms from different branches of the tourism sector, we confirm and extend prior research. In particular, market orientation??especially a customer orientation??is critical for developing new services that lead to competitive advantages. In addition, ICT have a dual, direct, and indirect influence on service innovation.     

Vertical product differentiation and two-sided markets

We model platform competition in a market where products are characterized by cross network externalities. Consumers differ in their valuation of these externalities. Although the exogenous set-up is entirely symmetric, we show that platform competition induces a vertical differentiation structure that allows for the co-existence of asymmetric platforms in equilibrium. We establish this result in two set-ups: in the first one platforms commit to prices, in the second one they commit to network sizes.     

A profile of European accounting research: evidence from leading research journals

This paper attempts both to advance understanding about the research profile of accounting in Europe and to evaluate the role of The European Accounting Review in the dissemination of Europe-based accounting research. Empirical evidence supporting this investigation was gathered from all the papers published in thirteen top accounting journals during the period 1992 to 1997. Our results show that (i) a vast majority of European contributions to well-regarded journals are authored by scholars affiliated to British higher education organizations. Therefore, the overwhelming dominance of British accounting academics over Europe-based accounting research posits considerable doubts on the extent to which it is correct to form the notion of European accounting research. Our results suggest that such a notion is strongly shaped by one constituency of the European setting, that is, by researchers affiliated to British higher education institutions. (ii) The European Accounting Review has played a significant role in the diffusion of Europe-based accounting research. The journal constitutes the sole venue providing international visibility to scholars of eleven continental European countries. Moreover, The European Accounting Review has published a significant proportion of contributions from scholars of the other fifteen European countries. (iii) There exists limited mobility of non-English written accounting research across European countries. Lastly, the paper posits some suggestions for further work in this area.     

Nonparametric correlation models for portfolio allocation

This article proposes time-varying nonparametric and semiparametric estimators of the conditional cross-correlation matrix in the context of portfolio allocation. Simulations results show that the nonparametric and semiparametric models are best in DGPs with substantial variability or structural breaks in correlations. Only when correlations are constant does the parametric DCC model deliver the best outcome. The methodologies are illustrated by evaluating two interesting portfolios. The first portfolio consists of the equity sector SPDRs and the S&P 500, while the second one contains major currencies. Results show the nonparametric model generally dominates the others when evaluating in-sample. However, the semiparametric model is best for out-of-sample analysis.     

An application of co-word analysis and bibliometric maps for detecting the most highlighting themes in the consumer behaviour research from a longitudinal perspective

This article presents an application of a bibliometric and visual study of the research carried out on a social science subfield, concretely the consumer behaviour research (CBR), from a longitudinal perspective (period 1966–2008). The study combines performance analysis and science mapping for detecting and visualizing conceptual subdomains. Quantitative and qualitative measures are used in order to identify the most prominent themes. Quantitative data are used to put together very related concepts (themes or clusters of topics), while qualitative indicators (as those based on citations) are used to measure the quality and/or impact of the detected themes. The study also uses bibliometric maps to show in a visual way the associations between the main concepts treated by the CBR community. The maps provide insight into the structure of the CBR, visualize the division of the field into several subfields, and indicate the relationships between these subfields. Co-word analysis is the bibliometric technique used to identify the main themes. All this allows us to quantify and visualize the thematic evolution of the CBR. It also helps to both experts and novices to understand the current state of the art of the CBR and to predict where future research could lead.     

The option of joint purchase in vertically differentiated markets

Summary. Within the framework proposed by Mussa and Rosen (1978) for modelling quality differentiation, consumers are assumed to make mutually exclusive purchases. A unique pure strategy equilibrium exists in this case. In this note, we allow consumers to buy simultaneously different variants of the differentiated good. We call this the “joint purchase option”. The paper proposes a detailed analysis of price competition when this option is opened: first, we show that either uniqueness, or multiplicity, or absence of price equilibrium arise, depending on the utility derived from joint purchase relative to exclusive purchase. Second, we characterize these equilibria, whenever they exist. Received: July 25, 2001; revised version: October 21, 2002 RID="*" ID="*" The second author gratefully acknowledges the financial support from Interuniversity Attraction Pole Program- Belgian State- Federal Office for Scientific, Technical and Cultural Affairs under contract PAI 5/26. Correspondence to: X.Y. Wauthy     

Influence of Affective Traits on Entrepreneur's Goals and Satisfaction

Emotions are important to an individual's behavior. However, affective elements have rarely been included in the analysis of entrepreneurs' behavior. Using a sample of 335 entrepreneurs from multiple industries of the Spanish region of Castile and León, we analyze the role of emotions in entrepreneurs' statement of goals and in their satisfaction with business performance. The results show that positive affective traits influence an entrepreneur to state broad and ambitious goals, and personal negative affective traits influence an entrepreneur to state a narrow set of goals. We also find that positive (negative) affective traits are positively (negatively) related to entrepreneur satisfaction.     

Cournot equilibrium without apology: Existence and the Cournot inverse demand function

In a multi-commodity framework with absence of wealth effects, we prove the existence of equilibrium for Cournot oligopoly, and that the concept is completely non-ambiguous. We also obtain a uniquely defined endogenous inverse demand function, depending only on the competitive sector.     

Responding to Digital Transformation by External Corporate Venturing: An Enterprising Family Identity and Communication Patterns Perspective

Digital transformation increasingly requires activities located outside firm boundaries, for example via alliances with start‐up companies. Despite this, German Mittelstand firms, primarily owned and managed by enterprising families and seen as role models of innovation, appear reluctant to place strategic emphasis on venturing outside the firm’s boundaries when it comes to digital transformation. Drawing on the concepts of identity and communication patterns, we theorize on the mechanisms behind this behaviour. Applying structural equation modelling to a sample of 254 members of the next generation in enterprising families from Germany, we find that family communication patterns impact the strategic priority for or against external corporate venturing via identity‐related considerations.