Factors that influence the length of industrial channels

This article is concerned with the length of channels utilized to market industrial products. Several marketing scholars have proposed that the appropriate channel structure is a function of conditions associated with the market for the product, the nature of the product itself, and characteristics of the producer and middlemen. By means of a survey of industrial product manufacturers, this study identified six characteristics of middlemen, industrial markets, and industrial customers that appear to be significant influences on the length of channels used to distribute industrial products.     

Relinking Cross‐functional Collaboration,Knowledge Integration Mechanisms,and Product Innovation Performance: a Moderated Mediation Model

Previous research shows that knowledge integration mechanisms (KIMs) mediate the cross‐functional collaboration‐product innovation performance relationship; however, this mediating effect seems to be rather weak. This study, in contrast, develops a moderated mediation (MOME) model to argue that such a mediating effect is moderated by product innovativeness. A sample comprised of 106 manufacturing firms is utilized in the analyses. A moderated‐mediation approach shows that the mediating effect of KIMs in the linkage between cross‐functional collaboration and product innovation performance varies by different perspectives of product innovativeness. From an industry (macro‐level) perspective, product innovativeness positively moderates the mediating effect of KIMs on product innovation performance; in contrast, such a moderating effect is not significant under a firm (micro‐level) perspective. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.     

IMPACT OF DIVIDEND‐PROTECTED EMPLOYEE STOCK OPTIONS ON PAYOUT POLICIES: EVIDENCE FROM TAIWAN

Abstract. This study used a sample of 1035 Taiwanese firms to examine the impact of dividend protected employee stock options on stock repurchase and cash dividend policies from 2000 to 2005. This study finds a positive relationship between cash dividends and executive options, implying that executives holding stock options might prefer to distribute cash dividends to boost the stock price. This result, unlike in earlier studies, arises from the dividend protected characteristic of Taiwanese employee stock options. Finally, free cash flow, firm profitability, level of debt, investment opportunities and firm size are found to considerably influence payout decisions.     

Analyzes on overseas investment way of the oil-gas field enterprise

Investment overseas for Chinese oil and gas enterprises can help them find more stable sources of oil, diversify oil import, and disperse oil supply security. It is an important means of oil security and also can enhance oil company＇s international competitiveness. Selection of the pattern plays an important role. So while making decision, investment pattern＇s features and influencing factors must be considered.     

Proactive personality and work performance in China: The moderating effects of emotional exhaustion and perceived safety climate

Grounded in the interactionist paradigm, this study shows that emotional exhaustion and perceived safety climate constitute important moderators of the relationship between proactive personality and work performance. More specifically, the study analyzes the relationship between proactive personality and its behavioural outcomes—organizational citizenship behaviour (OCB) and job performance—and investigates the interactive effects of emotional exhaustion and perceived safety climate. The study involves 485 Chinese airline employees including pilots, flight attendants, engineers, and service employees. Proactive personality positively predicted OCB and individual performance. Emotional exhaustion and perceived safety climate moderated the relationship between proactive personality and individual performance both independently and jointly. Implications of the findings for future research are discussed. Copyright © 2009 ASAC. Published by John Wiley & Sons, Ltd.     

The Effect of Socially Responsible Investing on Portfolio Performance

More and more investors apply socially responsible screens when building their stock portfolios. This raises the question whether these investors can increase their performance by incorporating such screens into their investment process. To answer this question we implement a simple trading strategy based on socially responsible ratings from the KLD Research & Analytics: Buy stocks with high socially responsible ratings and sell stocks with low socially responsible ratings. We find that this strategy leads to high abnormal returns of up to 8.7% per year. The maximum abnormal returns are reached when investors employ the best‐in‐class screening approach, use a combination of several socially responsible screens at the same time, and restrict themselves to stocks with extreme socially responsible ratings. The abnormal returns remain significant even after taking into account reasonable transaction costs.     

Auditor reporting and earnings management: some additional evidence

This paper investigates the reasons that lead to modification of auditors’ opinions. We revisit the conclusions of prior US‐based research on whether a modification highlights likely earnings management activities. Extending this research, we consider an alternate explanation that managers adjust accruals to report earnings that better predict future firm performance, which has the side‐effect of placing them in conflict with their auditors. Our study sample comprises all firms listed on the Australian Stock Exchange over the period 1999–2003. Consistent with prior research, there is no evidence of earnings management leading to an audit opinion modification. However, we do show that firms receiving inherent uncertainty modifications (other than going concern) have greater persistence of earnings (accruals) relative to other firms. This is consistent with the proposition that managers have made policy choices in reporting current earnings, with which their auditors disagree, that will likely result in a greater ability to forecast the firm's future earnings.     

Consumers’ Appreciation of Regional Certification Labels: A Pan‐European Study

Successful regional products, such as Florida oranges, Idaho potatoes and Parma ham, often have to compete against products passing themselves off as the authentic product using the exact same name. This unfair competition misleads consumers, discourages small‐ and medium‐sized enterprises (SMEs) from marketing products based on their region of origin, and may end up hurting rural economies. To protect consumers, and support SMEs and rural economies, many countries around the world have introduced regulations enabling SMEs to legally protect the names of their regional products. The success of these regulations largely depends on consumers’ appreciation of regional certification labels that inform consumers that the name of the regional product is protected and that it denotes the authentic product. To gain an understanding about consumers’ appreciation of regional certification labels, this paper investigates consumers’ image of these labels and proposes a model that relates this image to consumers’ willingness to buy and pay for protected regional products. The model is tested based on Regulation No. 2081/92 that was introduced by the EEC allowing European SMEs to protect their regional products and market their products with a protected‐designation‐of‐origin (PDO) label. Structural equation modelling results suggest that consumers’ image of regional certification labels consists of a quality warranty dimension and an economic support dimension, which positively relate to consumers’ willingness to buy and pay for the protected regional product. Protecting regional products and marketing them with regional certification labels may be beneficial for SMEs producing and marketing regional products. Policy and managerial implications are discussed.     

Setting multinational industrial marketing strategies

Nations of the world are striking out, from various starting points, along a variety of new development paths, reflecting a widespread repudiation of the conventional economic model of development based on a common, predetermined roadway to progress. Marketers who are bound by tradition may perceive the alternative development approaches as threats to standardized marketing strategies. Innovative marketers will view them as important keys to expanded market opportunities throughout the world.     

Measuring managerial cognitive styles: On the logical validity of the Myers-Briggs Type Indicator

This study examined the validity of the sensing-intuition and thinking-feeling scales of the Myers-Briggs Type Indicator as a measure of cognitive styles (i.e., process). Using 20 full-time-employed graduate students in Business Administration as subjects, and simultaneous verbal protocols as a measure of process, only partial support for the scales was found. In particular, the sensing-intuition scale demonstrated greater convergence with processes hypothesized to be associated with it than did the thinking-feeling scale. Recommendations for improving the scales are made.