Why sad people like shoes better: The influence of mood on the evaluative conditioning of consumer attitudes

An experimental study investigated the influence of mood on the acquisition of affective consumer attitudes. Within an evaluative conditioning paradigm, participants in happy or sad mood were presented with evaluatively neutral products paired with affectively liked or disliked faces. Subsequent likability ratings revealed that the mere co‐occurrence of a product with the valenced face influenced the evaluation of the previously neutral targets. However, this effect of affective learning was significantly stronger in the sad‐mood condition. A subsequent awareness test indicated that contingency awareness plays a role in the acquisition of consumer attitudes. The implications for consumer research and attitude formation processes are discussed. © 2004 Wiley Periodicals, Inc.     

Sense and sensibility: Testing an attention-based view of organizational responses to social issues

According to attention-based theories, to explain organizational attention is to explain organizational behavior. In our study, we test the model of situated attention and firm behavior by examining the effects of attention structures and allocation of attention on organizational outcomes. We hypothesize a positive relationship between attention structures and the allocation of organizational attention that, in turn, has an effect on financial performance. Using a unique data set composed of indicators of social responsibility published by 338 Brazilian organizations between 2001 and 2007, we find support for our hypotheses. Our findings suggest that organizational attention to social issues fully mediates the relationship between attention structures and financial performance.     

Earnings Preannouncement Strategies

We examine the disclosure strategies managers follow when theyd preannounce quarterly earnings shortly before formal earnings announcements. We document that managers with bad news release essentially all of their news at the preannouncement date, while managers with good news only release about half of their news. Controlling for the combined news released at the preannouncement and earnings announcement dates, firms with negative earnings announcement surprises have significantly lower excess returns for the period from just before the preannouncement to just after the earnings announcement. This finding is consistent with the observed disclosure strategies whereby managers attempt to avoid negative earnings announcement surprises, and suggests that how information is presented can affect the market's reaction to that information.     

The globalization of the rule of law and human rights

The third millenium will be a defining period for the future of human rights worldwide. In the second millenium, rudimentary concepts of human rights emerged, evolved, expanded and ultimately were woven into an intricate and detailed web of rights that has been globally enunciated, but not yet universally recognized and enforced. Since World War II, developments have occurred at an escalating pace. The UN and the World Court have been established. Criminal tribunals have been created, and regional courts and regional security organizations have been installed. There is growing recognition that rulers of nations must be subject to civil and criminal jurisdiction of international law. At the close of the second millenium we are witnessing the first ever indictment of a sitting ruler for violations of international criminal law. Despite important progress, many obstacles must be overcome before the rule of law will prevail globally.     

New debt strategies after the brady plan

In view of the continuing debt problems of developing and industrialising countries there is a very real danger that a renewed downturn in the world economy could lead to a serious deterioration in relations between debtors and creditors, with far-reaching consequences for growth and employment in both industrial and developing countries. The task to be undertaken consists primarily in altering the basis for decision-making by both debtors and creditors in such a way that the rational strategy is effective action rather than inertia. The views expressed in this article reflect the personal opinion of the author.     

Does Cue competition reduce conditioned liking of brands and products?

The present studies investigated whether the visual co‐presentation of a brand name and a product visual increases or decreases the acquisition of liking toward these stimuli in a conditioning paradigm. In Study 1, participants were presented with an elemental brand name, an elemental product visual, or a compound of both stimuli, along with liked faces. Results indicated that the mere pairing with the liked face led to increased liking in the elemental condition, but not in the compound condition (i.e., cue competition). Study 2 showed that this effect is due to the divided attention toward the compound, but not due to competition among conditioned stimuli (CSs) to predict the unconditioned stimulus (US). © 2011 Wiley Periodicals, Inc.     

Ein Modell für existenzsichernde Beschäftigung

Die hohe Langzeit-Arbeitslosigkeit ist nach wie vor ein schwerwiegendes wirtschaftspolitisches Problem. Die aktuellen Regelungen an der Schnittstelle zwischen Transferund Arbeitseinkommen haben bisher nur unzureichend zu seiner L?sung beigetragen. Die verschiedenen diskutierten Kombilohnmodelle sind dagegen oft nicht praxistauglich. Die Autoren stellen hier das Modell für eine existenzsichernde Besch?ftigung des Bundesministeriums für Arbeit und Technologie vor. Dr. Walther Otremba, 55, ist Staatssekret?r im Bundesministerium für Wirtschaft und Technologie; Dr. Daniela B?nstrup, 34, ist dort Referentin im Referat für Arbeitsmarktpolitik.     

Sources of exchange rate fluctuations: Are they real or nominal?

I analyze the role of real and monetary shocks on exchange rate behavior using a structural vector autoregressive model of the US vis-à-vis the rest of the world. The shocks are identified using sign restrictions on the responses of the variables to orthogonal disturbances. These restrictions are derived from the predictions of a two-country DSGE model. I find that monetary shocks are unimportant in explaining exchange rate fluctuations. By contrast, demand shocks explain between 21% and 37% of exchange rate variance at 4-quarter and 20-quarter horizons, respectively. The contribution of demand shocks plays an important role but not of the order of magnitude sometimes found in earlier studies. My results, however, support the recent focus of the literature on real shocks to match the empirical properties of real exchange rates.