A Note on Input Price Discrimination Under Bertrand Competition: Simultaneous vs. Sequential Contracting

Review of Industrial Organization - By allowing the supplier to contract simultaneously or sequentially with asymmetric retailers under Bertrand competition, we analyze the welfare implications of...     

Threshold estimation for continuous three-phase polynomial regression models with constant mean in the middle regime

This paper considers a continuous three-phase polynomial regression model with two threshold points for dependent data with heteroscedasticity. We assume the model is polynomial of order zero in the middle regime, and is polynomial of higher orders elsewhere. We denote this model by ${ℳ}_2$, which includes models with one or no threshold points, denoted by ${ℳ}_1$ and ${ℳ}_0$, respectively, as special cases. We provide an ordered iterative least squares (OiLS) method when estimating ${ℳ}_2$ and establish the consistency of the OiLS estimators under mild conditions. When the underlying model is ${ℳ}_1$ and is $(d_0-1)$th-order differentiable but not $d_0$th-order differentiable at the threshold point, we further show the $O_p(N^{-1/(d_0+2)})$ convergence rate of the OiLS estimators, which can be faster than the $O_p(N^{-1/(2d_0)})$ convergence rate given in Feder when $d_0\ge 3$. We also apply a model-selection procedure for selecting ${ℳ}_{\kappa }$; $\kappa =0,1,2$. When the underlying model exists, we establish the selection consistency under the aforementioned conditions. Finally, we conduct simulation experiments to demonstrate the finite-sample performance of our asymptotic results.     

Online shopping cart abandonment: A review and research agenda

The COVID-19 pandemic has put online shopping at the forefront of retailing; however, the issue related to shopping cart abandonment remains an eternal nemesis of e-retailers. To understand extant research on online shopping cart abandonment (OSCA), a framework-based systematic literature review was conducted with the purpose of gaining more insights into existing studies in this context. Specifically, this review examined the literature related to OSCA in terms of theory, context, characteristics, and methods to provide (i) a comprehensive review of the current state of research and (ii) constructive future research agenda in the area. Using scientific procedures, a total of 52 research articles were retrieved from Scopus and Web of Science databases published during the period 2003–2022. The results revealed that most research was founded by the stimulus-organism-response (S-O-R) model and the buyer behavior theory, focused in the context of the United States and China, and appeared to use quantitative methods. As a result, this review is expected to assist researchers in better understanding the OSCA context, thus paving the way for further research and development in the area. In addition, providing practitioners with a better panorama to address the issue by expanding the literature review and highlighting the inhibiting factors of OSCA.     

CEO cultural background and corporate cash holdings

This paper examines whether the cultural background of chief executive officers (CEOs) affects corporate cash holdings. Using UK data from 2000 to 2018, we find that CEOs with a cultural background that emphasises power distance and uncertainty avoidance are positively associated with corporate cash holdings, while CEOs with a cultural background that emphasises masculinity are negatively associated with corporate cash holdings. Our results are robust to various robustness tests. Further analyses show that the impact is more pronounced when power is concentrated among top executives, when the CEOs have a degree of discretion in pursuing their own goals, and when information asymmetry is high.     

Determinants of financial worry

Grounded in the transactional stress-coping theory and the Tallis and Eysenck (1994) model of nonpathological worry, the present study sought to advance the conceptual and empirical understanding of financial worry (FW). We positioned objective financial stressors (OFS), subjective financial stressors (SFS), and coping resources as key variables in understanding the determinants of financial worry (FW). The cross-sectional data consisted of responses from a representative sample of 19,385 adults, aged 18 and older, drawn from a large U.S. survey. Hierarchical linear regression results revealed that OFS, SFS, household income, and financial capability (FC) are all key determinants of FW. Furthermore, the results revealed adverse effects of OFS and SFS on FW. These effects were moderated by household income, FC, age, and gender. Implications for future research, employers, practitioners, and policymakers are discussed.     

A story to sell: The influence of storytelling on consumers' purchasing behavior

Storytelling can arouse consumers' emotions and affect purchasing behavior through desires and attitudes. While the marketing literature discusses storytelling, there is a lack of consensus because of the diverse conceptual and operational definitions used. To untangle the complexities and consolidate the fragmented knowledge about storytelling in marketing, this research examines how the marketing literature has addressed the influence of storytelling on consumers' purchasing behavior. The findings aid in understanding how the topic has been discussed from a marketing perspective in consumer behavior studies. Through a systematic literature review using a bibliometric analysis, we demonstrate that the marketing literature features four strands about the uses of storytelling to influence consumers' purchasing behavior. First, storytelling stimulates the consumer's identification with the brand. Second, storytelling allows consumers to experience emotional value. Third, storytelling supports engagement behaviors. Finally, storytelling has a downside in that it also propagates harmful speech. This study concludes with a roadmap for future research about how storytelling impacts consumers' purchasing behavior.     

How and when female directors effectively cut down acquisition premiums

Grounded upon the group dynamics and the human capital literature, this paper proposes that the presence and conditions of female directors on a board substantially affect the acquisition decision. In detail, it argues that female board representation decreases the acquisition premium offered. It also examines the effects of female directors are contingent upon their conditions. When the females are inside, rather than outside, directors, their influence is greater. When the female directors have more prior acquisition experiences than male directors, the negative impact on premiums is strengthened, particularly when their acquisition experiences are those accumulated at acquirers rather than at targets. Empirical analyses on a sample of 1750 acquisitions made by US public firms in 2003–2013 provide evidence to support our predictions.