Corporates' strategic responses to economic policy uncertainty in China

Using a novel news‐based index of economic policy uncertainty, this paper studies the impact of economic policy uncertainty on corporate strategic positioning and corporate risk in China from 2009 to 2015. The study also investigates the impact of corporate strategic positioning on corporate risk. The results show that corporate strategic positioning and economic policy uncertainty have a significant positive impact on corporate risk. The results also explain that economic policy uncertainty increases the market risk of the firms irrespective of their corporate strategy. However, it increases the business risk of prospector firms and decreases the business risk of defensive firms. The study may help the firms to formulate and improve their strategic positioning while considering economic policy uncertainty. Our results are robust to alternate proxies of economic policy uncertainty and corporate risk.     

Options on federal funds futures and interest rate volatility

This study examines the response of the spot and futures interest rates on the fed funds, Eurodollar, and Libor to the listing of CME fed funds options. With the exception of the Libor futures, the introduction of options is associated with a decrease in the conditional volatility of the interest rates in the sample. There is also evidence that the volume of options trading has a negative effect on the fed funds and the Eurodollar spot rates. In contrast, the fed funds and the Eurodollar futures rates respond positively to the volume of options trading. Overall, strong generalization of the effects of options listing and options trading across the markets is not possible. These results remain robust even after controlling for several exogenous variables including changes in the Fed's target for the fed funds rate, the TED spread, the 9/11 terrorist attacks, and day‐of‐the‐week effects.     

Factors Influencing Consumer Acceptance of Mobile Marketing: A Two-Country Study of Youth Markets

The purpose of this study is to examine factors affecting consumers' acceptance of mobile marketing across two global markets. Drawing upon technology acceptance and uses and gratifications theories, we develop and estimate a conceptual model of the influences of antecedent factors (including risk acceptance related to the mobile platform and personal attachment related to mobile devices) on behavioral intent related to mobile marketing practice. We further propose that the above relationships are mediated by activities that consumers engage in such as downloading, forwarding content and registering with firms. Focusing on youth consumers, we empirically test the model using data collected in both an established (U.S.) and an emerging market (Pakistan). Findings across these two markets reflect cross-market similarities and differences related to consumer acceptance factors. We draw implications from these findings related to both theory and practice.     

Incorporating choice dynamics in models of consumer behavior

This paper presents a framework for organizing and discussing factors influencing consumer choice dynamics, how these factors may be incorporated into models of buyer behavior and problems that may arise in estimating such models. The paper identifies research issues and delineates possible approaches. Proceedings of Session on Choice Dynamics at the Banff Symposium on Consumer Decision-Making and Choice Behavior. All authors share equally in content and remaining errors.     

Information content of the fed funds rates

This study shows that the Fed Funds spot rate mostly affects the level of key interest rates while the Fed Funds futures rate tends to affect both the level and the volatility. Such effects are more concentrated on the shorter segment of the yield curve. In addition, only an unexpected change in the target rate affects both the level and the volatility of interest rates. Finally, the FOMC's increased disclosure of its policy stance has a calming effect on the volatility of key interest rates. © 2005 Wiley Periodicals, Inc. Jrl Fut Mark 25:753–774, 2005     

Antecedents of consumer attitudes toward mobile marketing: A comparative study of youth markets in the United States and China

The purpose of this study is to examine factors influencing consumers' attitudes toward mobile marketing across two major markets—the United States and China. Drawing upon the technology acceptance model (TAM), the theory of reasoned action (TRA), and the perceived characteristics of innovations theory (PCI), we develop and test a conceptual model examining the joint influences of TAM constructs (perceived ease of use and perceived usefulness) and individual characteristics (personal attachment, innovativeness, risk avoidance, and privacy concern) and on consumer attitudes toward mobile marketing practices. Focusing on youth consumers, we empirically test the model using data collected in an established (United States) and an emerging market (China). Findings across these two markets reflect cross‐market similarities and differences related to consumers' attitudes toward mobile marketing. © 2012 Wiley Periodicals, Inc.