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Christian Homburg Torsten Bornemann Dirk Totzek 《Journal of the Academy of Marketing Science》2009,37(3):310-327
Despite the high practical relevance, prior research does not provide a clear picture whether the effectiveness of new product
preannouncements is contingent upon order of entry and whether the message content of preannouncements for pioneering products
should be different from those for followers. Drawing on diffusion research, the authors examine how preannouncements that
focus on risk reduction and the product’s relative advantage influence the relationship between preannouncement intensity
and new product success, taking into account order of entry. A cross-industry study investigating 151 new product launches
shows that for pioneers, a message focus aimed at reducing perceived product risk positively influences preannouncement effectiveness.
Furthermore, a relative advantage focus negatively affects preannouncement effectiveness and thus is rather counterproductive
for pioneers. With regard to early followers, results indicate a positive influence of a risk reduction focus on preannouncement
effectiveness. A relative advantage focus, however, is only effective if the product category is already established when
the early follower product is launched. Finally, for late followers, only preannouncements which strongly emphasize the relative
product advantage lead to a positive effect of preannouncements on new product success.
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Dirk TotzekEmail: |
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Abstract . Keynesian theory in macroeconomics and public finance in the United States was compatible with and supportive of a parallel development in the public administration branch of political science that arose in the Great Depression of the 1930s. This was the theory that the initiative in achieving welfare goals should be taken by government agencies acting to resolve conflicting interests. In initiating and taking leadership in bringing about social change, the administrators expanded government into a new bureaucratic State. 相似文献
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Abstract . Keynesian macroeconomic theory and the new theory of the hitherto neglected branch of political science, public administration, which were both independently introduced at about the same time in the New Deal period of the 1930s, complemented each other. Keynesian theory, emphasizing government fiscal policy and deficit spending as counterdepression, full-employment, and economic growth measures, became the generally accepted paradigm in economics and public finance. Public administration theory held that government agencies, motivated primarily by their own bureaucratic expansionary self-interest, would bring about an equilibrium of national interest. This provided the justification for agency initiative in stimulating and supporting the demands of interest and pressure groups whose regulation required increased agency activity. The theories and their outcome reflected the continuing decline of classical liberalism. 相似文献
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Sven Bornemann Susanne Homölle Carsten Hubensack Thomas Kick Andreas Pfingsten 《Journal of Business Finance & Accounting》2014,41(5-6):507-544
The opportunity of building up visible “Reserves for General Banking Risks” by the bank management represents a peculiarity in the German financial accounting framework for banks. We investigate German banks' motives for the creation and usage of these reserves and assess their role in financial stability. We find that banks primarily create and use GBR reserves to build up Tier 1 capital for regulatory capital management and earnings management purposes. Most importantly, however, we also reveal that banks using these reserves are less likely to experience a future distress or a bank default event. We therefore conclude that the existence of GBR reserves within the financial accounting framework represents both a convenient capital and earnings management tool for bank managers and a beneficial regulatory instrument to enhance bank stability. 相似文献
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Torsten Bornemann Lisa Schler Christian Homburg 《Journal of Product Innovation Management》2015,32(5):704-715
In times of convergence with regard to product functionality and performance, the appearance of a product constitutes an important source of competitive advantage. Astonishingly, only a few studies have empirically examined the relationship between design‐related aspects and firm value. Moreover, existing studies predominantly use accounting‐based and/or subjective performance measures. Against this background, the present work assesses the contribution of the three most important product design dimensions (i.e., aesthetic, ergonomic, and symbolic value) to the creation of firm value in the context of the automotive and consumer electronics industry. To do so, we examine stock market reactions to the unveiling of a new product's appearance to the public using event study methodology. In particular, we combine perceptual data at the consumer level with stock market data to examine how target consumers' perceptions of the aforementioned design dimensions are related to abnormal returns following the unveiling of a new product. Results reveal that ergonomic value is positively related to abnormal returns, while aesthetic value only exerts a significant positive effect on abnormal returns if the product also exhibits a certain degree of functional product advantage. Finally, symbolic value exerts a negative influence on stock market reactions. These findings have important implications for the allocation of design‐related investments to aesthetic, ergonomic, and symbolic design features. 相似文献
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Behrang Rezabakhsh Daniel Bornemann Ursula Hansen Ulf Schrader 《Journal of Consumer Policy》2006,29(1):3-36
From the very beginning of the Internet, a decisive shift from supplier power to consumer power was predicted by several authors
and is still maintained in recent literature. Although the Internet has grown rapidly within the last years and electronic
markets have evolved, a theoretical framework for consumer power on the Internet still cannot be identified. Few authors have
taken efforts to apply common concepts of power theory to the characteristics of the Internet. Based on the concept of French
and Raven, this paper analyses consumer power in traditional markets and then compares it to the situation on the Internet.
This comparison shows that the Internet enables consumers (a) to overcome most information asymmetries that characterize traditional
consumer markets and thus obtain high levels of market transparency, (b) to easily band together against companies and impose
sanctions via exit and voice, and (c) to take on a more active role in the value chain and influence products and prices according
to individual preferences. A broad literature review reveals that empirical findings confirm these hypotheses to a great extent.
The authors conclude by summarizing the results and drawing implications from two different angles, namely from a marketing
and a consumer policy perspective. 相似文献
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Talented people and strong brands: The contribution of human capital and brand equity to firm value 下载免费PDF全文
Research and managerial practice generally contend that human capital and brand equity constitute a company's most valuable resources. Relying on similar underlying theoretical rationales, research on the value relevance of these two resources has developed in different disciplines. Combining diverse data sources, the authors examine the simultaneous effects of brand equity and human capital on firm value. In addition, they consider how much the effects of these two resources differ between services and manufacturing. Results provide evidence for a complementary relationship between human capital and brand equity and show that both resources create relatively more value in a service setting. Copyright © 2014 John Wiley & Sons, Ltd. 相似文献
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Gianfranco Walsh Thorsten Hennig-Thurau Kai Sassenberg Daniel Bornemann 《Journal of Retailing and Consumer Services》2010,17(2):130-142
The quality of the relationship between customers and service firms has been found to be a major driver of customer loyalty in traditional (i.e., offline) service contexts. The increasing use of electronic services, or e-services, raises questions concerning the extent to which the relationship quality-customer loyalty link holds in an e-service context. Based on an extended model of relationship quality and by applying the social information processing perspective, this research tests the relevance of relationship quality for online relationships and explores differences of the relationship quality-loyalty link between online and offline retailers. To test the model, a large-scale study is conducted on both online and offline relationships for two service contexts (media and travel retailing). Using multi-group structural equation modeling, the authors identify differences between the online and offline environment in both service contexts. Results show that (1) relationship quality is similarly important for retaining customers online and offline and (2) differences in the impact of relationship-quality dimensions strongly depends on the service context. 相似文献
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Section 340f of the German Commercial Code allows banks to provision against the special risks inherent to the banking business by building hidden reserves. Beyond risk provisioning, these reserves are implicitly accepted as an earnings management device. By analyzing financial statements of German banks for the period 1997–2009, we see these hidden reserves being used to (1) avoid a negative net income, (2) avoid a drop in net income compared to the previous year, (3) avoid a shortfall in net income compared to a peer group, and (4) reduce the variability of banks’ net income over time. Our analysis also shows that if bank managers are unable to reach the targets as set out in (1)–(3), they are more inclined to keep the hidden reserves for use in future periods. 相似文献