Evidence on the efficacy of interest-rate risk disclosures by commercial banks

This paper documents evidence on the efficacy of maturity-gap disclosures of commercial banks in indicating their net interest income that is exposed to interest-rate risk. For the large sample of banks that filed call reports from 1990 to 1997, a period that includes a wide range of interest rate movements, we find that (i) one-year maturity gap measures are significantly related to the one-year- and three-years-ahead change in net interest income, (ii) fixed-rate and variable-rate instruments differ in explanatory ability, and (iii) the one-to-five-year aggregate gap measures also have some power in explaining three-year-ahead changes in net interest income. These findings hold after controlling for the ex post growth in assets as well as the amount of rate-sensitive assets and liabilities (a competing set of explanatory variables). Because the Securities and Exchange Commission (SEC)'s [Securities and Exchange Commission (SEC), (1997). Disclosure of accounting policies for derivative financial instruments and derivative commodity instruments and disclosure of qualitative and quantitative information about market risk inherent in derivative financial instruments, other financial instruments, and derivative commodity instruments. Release Nos. 33-7386; 3438223; IC-22487; FR-48; International Series No. 1047; File No. S7-35-95 (January 31, 1997), Washington, DC] tabular disclosures are finer than maturity-gap data, our findings mitigate concerns about the usefulness of the SEC's market-risk-disclosure requirements. Furthermore, they suggest contrary to the claims of certain banks that the omission of prepayment and early withdrawal risk from gap measures does not totally compromise the ability of gap data to indicate interest-risk exposures.     

SNAP and Paycheck Cycles

It is well documented that individuals do not spend the Supplemental Nutrition Assistance Program (SNAP) benefits smoothly over the month after receipt. Rather, recipients spend a disproportionate share of benefits at the beginning of the benefit month. This has costs for recipients and stores. There is also evidence that other income streams, such as Social Security and paychecks, are not spent smoothly. The presence of these other income streams may bias estimates of the effects of this SNAP cycle on consumption for working SNAP beneficiaries and those who receive other government benefits. We use data from United States Department of Agriculture's National Household Food Acquisition and Purchase Survey to explore how the SNAP cycle is affected by accounting for these other income streams. We find suggestive evidence that the cycle is more pronounced for workers who are paid on a weekly or monthly basis, but little evidence that cycles in other income streams mitigate or exacerbate the SNAP cycle.     

Culture and age as moderators in the corporate reputation and loyalty relationship

This study investigates the moderating role of culture and relationship age in the relationship between customer-based corporate reputation (CBR) and customer loyalty using data from two service contexts (retailing and fast-food restaurants) in three countries (France, the U.K., and the U.S.) that differ with regards to two cultural values—uncertainty avoidance and time orientation. Results suggest that CBR has similar effects on affective and intentional loyalty in all three countries. However, culture interacts with relationship age, such that relationship age magnifies the effect of CBR in France, while relationship age suppresses CBR's effect in the U.K. and the U.S. The authors provide explanations for these effects based on cultural theories. Managerial and research implications are developed.     

Reflections on discriminant validity: Reexamining the Bove et al. (2009) findings

Bove, Pervan, Beatty and Shiu (2009) develop and test a latent variable model of the role of service workers in encouraging helpful behaviors by customers towards the service business (OCBs). Farrell (2010) questions these findings due to an incorrect application of the Fornell and Larcker (1981) discriminant validity test. The authors respond to Farrell's criticism by discussing the options available for assessing discriminant validity, the current use of these options in top journals, the underlying assumptions of these assessments, and the appropriateness of the alternative assessments under different types of situations. Finally, the authors address the specific concerns raised in Farrell (2010) in regard to Bove et al. (2009).     

A model of adolescents' online consumer self-efficacy (OCSE)

This paper investigates adolescent online shopping and self-efficacy development in the virtual setting. The authors present and test a model of antecedents and mediators to two dimensions of online consumer self-efficacy. Additionally, a discriminant analysis finds that more involved adolescent online shoppers can be differentiated from less involved online shoppers on key variables of interest-shopping motivations, self-efficacies, shopping behaviors, and relative influence in household decision-making.     

Shared organizational values: Measurement and impact upon strategic marketing implementation

The concept of shared organizational values and its impact upon successful marketing strategy implementation are discussed. The need to measure the degree to which values within the organization are shared is stressed. A method to quantitatively measure the degree of value congruency and the strength of value consistency is proposed. An exploratory, empirical study is presented in which organization values are measured and found to impact upon strategy implementation.     

From Partners to Players: Extending the HR Playing Field

HR professionals must always be “becoming” or constantly changing and adapting. For the last decade, many have argued the business partner role as a complement to traditional HR administrative work. We argue in this paper that HR professionals should move beyond partners to become players. HR professionals as players are “in the game, on the field, making a difference” through their HR work. In this article, we suggest that to become players, HR professionals must learn to coach, architect, build, facilitate, lead, and provide a conscience to business leaders. Specific knowledge and tools for each of these roles are described. © 2001 John Wiley & Sons, Inc.