Adding Value to Agricultural Data: A Golden Opportunity

Agricultural decision makers rely on information provided by public and private entities. Data is a valuable asset and represents a tremendous investment of resources. However, difficulty locating sources and/or interpreting values may compromise its usefulness. The Florida citrus industry serves as an example of the data problem faced by many users; over 50 publications produced by 13 agencies are identified as official sources of citrus data. An indication of the potential for lost value and the dilemma facing modern agriculture is provided. This paper draws on corporate information management techniques as a framework for adding value to agricultural data.     

Resolving the exposure puzzle: The many facets of exchange rate exposure

Theory predicts sizeable exchange rate (FX) exposure for many firms. However, empirical research has not documented such exposures. To examine this discrepancy, we extend prior theoretical results to model a global firm's FX exposure and show empirically that firms pass through part of currency changes to customers and utilize both operational and financial hedges. For a typical sample firm, pass-through and operational hedging each reduce exposure by 10–15%. Financial hedging with foreign debt, and to a lesser extent FX derivatives, decreases exposure by about 40%. The combination of these factors reduces FX exposures to observed levels.     

Reducing crimes against wildlife through promoting animal–human continuity beliefs: The role of consumers' religiosity

Wildlife crime is a worldwide issue, but marketing research has been mostly silent on the topic. In particular, research has yet to understand how a consumer's level of religiosity may help to explain views toward and participation in crimes against wildlife. Thus, through three studies, these challenges are addressed. Study 1 shows that religiosity positively influences acceptability views and participation in crimes against wildlife, and this relationship is mediated by animal–human continuity beliefs (i.e., believing animals and humans are one of the same). Study 2 primes religion to show that religiously primed consumers are more likely to view crimes against wildlife as acceptable, thereby supporting religiosity as a primary mechanism in explaining crimes against wildlife. Additionally, animal–human continuity beliefs again mediate this relationship, with religiously primed consumers reporting lower animal–human continuity beliefs. Lastly, Study 3 provides practical implications through marketing messaging aimed at reducing attitudes toward and participation in crimes against wildlife. Findings reveal that religious-based messaging is the most effective. Findings build on belief congruence theory and provide implications for marketing practice and the preservation of wildlife.     

When open-mindedness lowers product evaluations: Influencers to consumers’ response to religious cues in advertising

Prior research has examined response to Christian religious cues used in secular marketing messages but has inadequately explored the underlying reasons for such response as well as why religious cues may negatively influence product evaluations. These limitations are addressed in this research work through three studies utilizing religious cues. In Studies 1a and 1b, ads with a Christian or Muslim religious cue (no religious cue) were found to produce lower (higher) product evaluations. Studies 2–3 then examined why religious cues in ads can produce lower product evaluations to show that open-mindedness moderated this effect (Study 2), and priming open-mindedness also influenced this effect (Study 3). Most interestingly, open-minded consumers were more negative toward religious cues in marketing communications than close-minded consumers, and priming open-mindedness magnified this effect. These novel effects are discussed in relation to the literature on open-mindedness and value-based consumption. Additionally, implications for research and practice are discussed.     

Religion's influence on the financial well-being of consumers: A conceptual framework and research agenda

Religion is an indelible force in society, yet research examining its influence on consumption, particularly in the context of financial well-being is lacking. Thus, this paper presents a conceptual framework of factors influencing, and outcomes associated with, the effects of religion on financial well-being. Specifically, this paper introduces a conceptual framework aimed at understanding how religion influences financial decisions and well-being, both from a consumer and a business perspective. Focus groups were conducted with consumers and financial practitioners to support the development of the conceptual framework. Most novel to this framework is the identification of potential process mechanisms explaining this relationship, including trust, affect, risk propensity, and perceived personal control. The framework concludes with potential interventions targeted at consumers and businesses to improve financial well-being. This propositions-based conceptual framework serves as a research agenda to guide and aid scholars, consumer advocacy groups, policymakers, and marketers in promoting greater financial well-being.     

The loyalty construct: Hirschman and beyond

Six papers drawing on Hirschman's (1970) Exit, Voice, and Loyalty model are discussed with regard to two themes: (a) relationship to the original work (specifically focusing on variations in the definition and operationalization of the loyalty component), and (b) the development of the loyalty construct itself. A concerted effort is called for to pursue a better understanding of loyalty, including an improved appreciation of the depth and breadth of the construct, its antecedents and outcomes, and its operationalizations in organizational settings.     

Sacred Attributions: Implications for Marketplace Behavior

Prior research in marketing has extensively examined attribution theory and how this influences product evaluations; however, such research has only examined secular attributions to a company, employees, other consumers, or one's self. Thus, through a series of three studies, the research herein examines a new category of attributions—sacred attributions—to determine when consumers make secular versus sacred attributions and how this influences product evaluations. Study 1 shows that religiosity is positively correlated with sacred attributions. Additionally, Study 1 finds that sacred attributions to God are more likely in positive consumption situations, while sacred attributions to Satan are more likely in negative consumption situations. Study 2 finds that God (Satan) attributions lead to positive (negative) product evaluations, and these effects are pervasive, regardless of religious priming. Study 3 increases external validity by using real businesses to show that sacred attributions are greatest for businesses with a sacred value system, although these effects differ based on situational affect. Findings build upon the literature on attribution theory and priming.     

Informal conflict intervention: Advice and dissent

A disparity appears to exist between how managers are advised to handle conflict and the intervention methods that they utilize in actual practice. Normative advice tends to agree that managers should adopt a facilitative, mediatorlike role (e.g., Walton, 1987; Tjosvold, 1990), while the empirical research suggests that managers are much more controlling, often deciding how to resolve the problem on their own (e.g., Kolb, 1986; Sheppard, 1983). The present study focuses on two potential reasons as to why managers utilize the methods they do: (1) They treat choices instrumentally to achieve key goals and (2) they interpret or frame conflicts in a form that suggests directive action. One hundred and eighty managers were interviewed about a recent effort to intervene in a dispute at work. The results confirm that managers are very controlling when intervening in disputes and relates this to both interpretive frame and, to a lesser extent, managerial goals. A canonical analysis appears to emphasize the pivotal role that frame plays in influencing whether or not managers choose the solution. Implications of these results for managerial action are discussed.     

Cake or fruit? Influencing healthy food choice through the interaction of automatic and instructed mental simulation

Promoting healthy food choice is a central issue for public welfare and a continuous challenge for marketers and policy makers. This research examines how marketing communication elements, such as visuals and text, can be used to encourage healthy food choices. Extending previous research in automatic process mental simulation, this research examines whether visual presentations of food items can trigger a different type of automatic mental simulation that is outcome oriented. Results from four studies show that visual presentations of food items in an advertisement can trigger process and outcome automatic mental simulation (AMS) of food consumption, and AMS interacts with an advertisement’s instructed mental simulation (IMS) to influence consumer healthy food choice. Contributing to marketing research in using IMS in advertising to promote product offerings, this research demonstrates that the success of IMS cues varies depending not only on the amount, but more importantly, the type of AMS triggered from visual cues.     

How Much Do Banks Use Credit Derivatives to Hedge Loans?

Before the credit crisis that started in mid-2007, it was generally believed by top regulators that credit derivatives make banks sounder. In this paper, we investigate the validity of this view. We examine the use of credit derivatives by US bank holding companies with assets in excess of one billion dollars from 1999 to 2005. Using the Federal Reserve Bank of Chicago Bank Holding Company Database, we find that in 2005 the gross notional amount of credit derivatives held by banks exceeds the amount of loans on their books. Only 23 large banks out of 395 use credit derivatives and most of their derivatives positions are held for dealer activities rather than for hedging of loans. The net notional amount of credit derivatives used for hedging of loans in 2005 represents less than 2% of the total notional amount of credit derivatives held by banks and less than 2% of their loans. We conclude that the use of credit derivatives by banks to hedge loans is limited because of adverse selection and moral hazard problems and because of the inability of banks to use hedge accounting when hedging with credit derivatives. Our evidence raises important questions about the extent to which the use of credit derivatives makes banks sounder.