Effect of price increases on future intentions of sport consumers

This work analyzes the relationships between perceived value, satisfaction and future intentions among users of a public sport service who experience a price increase in the service they receive. A self-administered survey provides data from two samples (before and after the service price increase). After confirming the reliability and validity of the measures, hierarchical multiple regression provides the means for analyzing the data. The results show that the increase in the service price worsens the perception of service performance. As expected, satisfaction, perceived value and future intentions decrease following an increase in the service price. Perceived value also serves as a more effective predictor of future intentions than satisfaction. Finally, price increase has a low direct effect on predicting future intentions of sport users.     

Interpreting value in the customer service experience using customer-dominant logic

Abstract

Traditionally, customer value has been examined from the perspective of the firm. New understandings of customer value from the customer-dominant logic perspective of services emphasise the need to move away from the service-dominant perspective and adopt a customer-based approach that considers value within the broader context of a customer’s lifeworld. This article explores how individual customers make sense of their participation in an extraordinary, commercially-driven consumption experience. A phenomenological approach is taken to understand the lived experience of these participants. The findings of this exploratory study reveal the highly complex nature of value in the experience in the chosen context of luxury driving experience days. Theoretical and managerial implications are discussed.     

The role of social value creation in business model formulation at the bottom of the pyramid – Implications for MNEs?

This paper presents an exploratory study of how social value creation and business models may be interrelated in the context of the bottom of the pyramid (BOP) business formation. We develop our analysis around five case studies of actual businesses set up in rural India by people in the BOP. We attempt to draw implications from the performance of the business models in the BOP for what MNE strategies of engagement with the BOP may learn from the processes we analysed.     

How do agency problems affect firm value? – Evidence from China

Using newly available data, we examine the effects of the agency conflicts between ultimate controlling shareholders and minority shareholders in China's publicly listed firms between 2004 and 2009. We measure the severity of these agency problems by the excess control rights of the ultimate controlling shareholders. We show that higher excess control rights are associated with significantly lower firm value. We identify two channels through which the excess control rights affect firm value: (1) related-party loan guarantees, and (2) legal violations. We find that higher excess control rights are associated with significantly larger amounts of related-party loan guarantees (scaled by assets) for non-state and private firms, but not for state-owned firms. We find that, for non-state and private firms, the excess controls rights are associated with (1) significantly higher probability that the firm will issue value-destroying related-party loan guarantees and (2) significantly worse stock market reactions to the announcements of related-party loan guarantees. However, these results do not hold for state-owned firms. We also find that higher excess control rights are associated with significantly higher probability, frequency and severity of legal violations for non-state and private firms, but not for state-owned firms.     

The Chinese experience: The impact of financial restatements on firm value and its implications on the investigatory practices of regulators

We examine the relationship between restatements of prior period financial results and firm value in China. This relationship is relevant to the millions of global investors who purchase Chinese equity securities because Chinese regulatory authorities must focus on the restatement events that, in their judgment, most warrant investigation. We recommend that they focus their attention on restatement announcements (and the firms that announce them) that possess the characteristics that most impact firm value.Prior studies of the American equity markets found evidence of a relationship between the nature of the restatement announcements and firm value, as well as evidence that core account adjustments and high-magnitude adjustments affect firm value more than noncore account adjustments and low-magnitude adjustments. However, based on a sample of Chinese listed firms that made corporate announcements that appeared in the Asian press between 2003 and 2011, we only find mixed evidence in the Chinese equity markets in support of the former relationship, and no evidence at all in support of the latter relationship.In other words, restatement announcements in China do not impact firm value to the same extent, and in the same manner, as restatement announcements in America. Chinese regulators must thus develop policies that are unique to the Chinese markets in order to effectively prioritize their oversight activities on firms that issue restatement announcements.What factors should be considered by Chinese regulators? We identify a collection of corporate governance variables, as well as a smaller collection of financial variables, that are significantly associated with decreases in firm value. We also develop a set of regression analyses that utilize these variables to explain a significant portion of the variability of firm value during the sample period. Interestingly, however, we find no evidence that the growth patterns of the firms are significantly associated with changes in firm value.Using this evidence, we recommend the development of a model of regulatory guidance that is customized for the unique characteristics of the Chinese equity markets. We believe that this model can help Chinese authorities focus their attention on specific restatement announcements that most impact firm value.     

利益相关者视角下的公允价值审计研究

正是因为公允价值计量在会计处理中的大量运用,审计工作者在审计工作中,也需要在执行了必要的审计程序、获取充分适当的审计证据基础之上,对资产、负债、权益项目进行公允价值审计,核查其计量、披露是否符合会计准则及相关制度。文章从利益相关者的角度出发,通过了解国家相关政策、市场条件,借鉴国外公允价值计量、审计的相关经验,希望对公允价值计量提出合理的见解及可操作性建议。     

基于内部增值观的本科教育质量调查研究（一）——本科教育质量结构性问题

基于教育质量评价的内部增值观,在借鉴美国大学生学习投入调查（NSSE）以及汉化版NSSE-China的的基础上,编制了“大学学生学习与发展调查问卷”,以内蒙古财经大学为例,通过随机抽样,开展了大学生学习性投入的调查研究.调查内容涵盖反映本科教育质量的五大可比性指标——学业挑战度、主动合作学习水平、生师互动、教育经验丰富度、校园环境支持度.通过对1541个有效数据的分析并与全国常模进行比较,对本科教育质量问题进行了诊断.     

社会主义核心价值体系融入高校思想政治教育研究

把社会主义核心价值体系融入大学生思想政治教育,必须以马克思主义作为指导思想,以中国特色社会主义共同理想作为核心内容,以爱国主义为核心的民族精神作为主旋律,以改革创新为核心的时代精神作为现实要求,以社会主义荣辱观作为道德准则,才能全面提高大学生的思想政治素质.     

产业共性技术创新失败项目挽救对象甄选体系设计

产业共性技术创新的阶段性失败困境及潜在挽救价值使得失败挽救具有一定的必要性与可行性。然而,挽救实施前,需要界定挽救的技术范围、甄选挽救的潜在价值。为此,从技术范围与潜在价值两个层面,设计产业共性技术创新失败挽救对象甄选体系。首先,通过共性技术基因识别,刻画挽救的技术范围。其次,通过AHP-模糊灰色综合评价法结合价值评估体系,实现挽救的价值筛选。最后,基于生物医药行业实际案例,验证甄选体系的有效性,为挽救对象的有效选择提供实际应用方案。