A framework for understanding the evolution of relationship quality and the customer relationship development process

This paper attempts to develop and empirically test a conceptual model of relationship quality (RQ) in the financial sector from the perspective of the individual consumer (B2C). Based on a review of RQ research, the paper proposes a model of RQ from the customer perspective using the constructs most often examined in empirical RQ research (customer satisfaction, trust and commitment) and considers the relative importance of these dimensions within the stages of the relationship development process (RDP). A survey of 150 bank customers was undertaken in Egypt and the results tested using structural equation modelling. Respondents were selected on a convenience sampling basis and administered a questionnaire instrument for completion. The findings show that there is a strong relationship between the customer’s perceived relationship development phase and the perceived RQ. An important contribution of this paper lies in the alternative conceptualization of RQ as composed of three dynamic dimensions which are dependent on the RDP phase or stage. A second contribution is methodological and relates to the development of a modified scale to identify the relationship phases of customers. To the best of the researchers’ knowledge, these contributions are unique and have not been made previously to the body of knowledge on service relationship management.     

Privatization and globalization: An empirical analysis

This paper examines the link between globalization-measured by foreign direct investment (FDI) and foreign portfolio investment (FPI) – and privatization of state-owned enterprises, in a multi-country sample that focuses on developing countries. We hypothesize that privatization has an effect on FDI/FPI as the process of fostering private sector participation is often accompanied by liberalization reforms, and by allocations of substantial shares of newly privatized firms to foreign investors. Similarly, we expect FDI/FPI to foster privatization efforts as new capital inflows, technology and managerial skills that accompany FDI/FPI make the environment more prone to competition, providing governments with incentives to privatize inefficient firms that need to be turned around. This relation is assessed in two ways, first in a dynamic panel using a generalized method of moments approach, and second through panel causality tests. We find a bi-directional positive relation between privatization proceeds and globalization, particularly in the case of FDI.     

Net job creation in the US economy: lessons from monthly data, 1950–2011

This article studies the monthly net job creation (NJC) at the aggregate and the sectoral levels in the United States over the period 1950 to 2011. The article has few important findings. First, NJC did not show a significant trend over the last six decades, which led to a fall in the NJC rate. Second, NJC was very volatile and it could change course even in the span of 1 month. Third, there was no clear pattern about the co-movement between NJC and the change in the unemployment rate. Fourth, the averages of total NJC and private NJC since late 2010 were significantly higher than their respective historical averages and the volatility in NJC since the end of the Great Recession was not unusual by historical standards. Fifth, while the evidence about the effects of the 2009 American Recovery and Reinvestment Act on employment is inconclusive, some sectors appeared to benefit from it. Finally, the most frequent drop in the unemployment rate was by 0.1%, and drops of more than 0.2% should not be highly expected.     

Financial integration and currency risk premium in CEECs: Evidence from the ICAPM

This paper aims to study the Central and Eastern European Countries' (CEECs) dynamics of financial integration in the euro area with the prospect of their integration into the European Monetary Union. Our empirical analysis is based, successively, on a MGARCH model with time-varying correlations, a state-space model and a Markov-switching model. The results show that financial integration (i) is not perfect but is increasing and (ii) is linked to currency stability. The growing financial integration in 2007–2009 seems to be rather the result of the shock propagated by the global crisis.     

Revisions to US labor market data and the public’s perception of the economy

Using the monthly “Employment Situation” reports for 1994–2013, this paper studies the revisions to US employment data. The paper shows that the first press release underestimates net job creation in expansions and overestimates it in downturns. The “errors” in reporting the data on the labor market can distort the public’s perception about the stance of the labor market and have some political consequences. This is well reflected by the finding that the job approval rating of President Obama, the index of consumer confidence, and the economic conditions index of Gallup have all been responding to the initial news on the US labor market as they were published in the Employment Situation reports.     

Parcel distribution timetabling problem

In this paper we propose a model to generate an effective timetable for time definite parcel distribution companies operating a hierarchical hub-and-spoke network. The model, referred to as parcel distribution timetabling problem, provides the departure times from each serviced city and each servicing facility in order to minimize the travel times of all shipments from their origin cities to their destination cities. Although the problem is faced by every parcel distribution company, it is rarely addressed in the literature. There is no evidence that parcel distribution companies, including the international ones, are developing operational research models in generating their timetables. The application of the model to a real-world case led to a decrease of more than 11% in the average travel time of the shipments. The company was even more delighted by the rapidity of the model in generating the timetable; this task that used to take weeks is decreased to just minutes.     

An innovative role for nurse practitioners in managing chronic disease

Under the current care delivery model, persons with chronic illnesses, such as diabetes, are not receiving all recommended interventions and failing to meet targeted outcomes. The Chronic Care Model provides a framework for new approaches and roles for many members of the multidisciplinary team. Using the Chronic Care Model as a guide, a group of hospital-based clinics in an academic system incorporated nurse practitioners into the care model for patients with diabetes. Through use of planned visits, a patient registry, drug intensification protocols, and collaboration with other members of the team, the pilot sample improved processes of care and clinical outcomes. Use of nurse practitioners in this model of care for chronically ill patient populations has economic implications, as the payers begin to pay for performance.     

Available Sheep Cheese Supply Chain: Governance System of Channels in the Badia of Jordan

Based on field research in the Badia of Jordan and the first of its kind, this study specifically addresses the supply chain, marketing trends available to Badia farmers, the governance system that impact farmers, and the challenges facing them. Available cheese chains included Safeway and Civic Consumer Corporation chains as inaccessible by Badia farmers and wholesalers and Tal Arrimah (TA) Factory chains as accessible by Badia farmers. The data was elicited from archives, semistructured interviews, PRA (Participatory Rapid Appraisal), and survey with 118 participants carried out during the months of March–June 2007. The new trends have driven new organizational and institutional changes that led to the rise and use of contracts. Contracts varied in their attributes of delivery, prices, risk management, and provision of services such as credit and technical assistance. For the TA Factory, contracts remained unwritten and informal and did not set substantial requirements for technology upgrading and investment. The study recommends initiating written contracts for the benefit of the farmers as well as that of produce quality and standards.     

The role of state and foreign owners in corporate risk-taking: Evidence from privatization

Using a unique database of 381 newly privatized firms from 57 countries, we investigate the impact of shareholders' identity on corporate risk-taking behavior. We find strong and robust evidence that state (foreign) ownership is negatively (positively) related to corporate risk-taking. Moreover, we find that high risk-taking by foreign owners depends on the strength of country-level governance institutions. Our results suggest that relinquishment of government control, openness to foreign investment, and improvement of country-level governance institutions are key determining factors of corporate risk-taking in newly privatized firms.     

International Cross‐Listings and Subsequent Security‐Market Choices: Evidence from ADRs

We study the link between the attributes of American depositary receipt (ADR)‐listed firms and their post‐listing security‐market choices. We find that developed market firms are more likely to issue equity and debt than their emerging market counterparts. Furthermore, we find that large firms are more likely to issue debt and less likely to issue equity. When we examine locations where ADR firms raise their capital, we find that firms originating from countries where the protection of minority shareholders is weak are more likely to issue debt on their home markets and less likely to issue debt on international markets (excluding U.S. markets). Furthermore, ADR firms originating from developed (emerging market) countries are more (less) likely to issue their equity on their domestic markets and less (more) likely to issue equity on international markets (excluding U.S. markets).