Incorporating financial market volatility to improve forecasts of directional changes in Australian share market returns

Financial Markets and Portfolio Management - This study examines whether incorporating volatility improves the forecast of directional changes in the returns of Australia’s banking,...     

Participatory planning of industrial R&D activities

This paper summarizes and comments on the methodology actually employed in participatory planning of R&D activities for the iron and steel industry in Turkey. Through an organized collaboration with more than a hundred managers, engineers, experts, and planners: (1) technical, managerial, financial, and social problems that are obstacles to the achievement of predetermined goals for the industry are identified and defined; (2) these problems are formulated as R&D candidate projects; and (3) a set of R&D candidate projects are selected for implementation in the 1980s.     

A taxonomy of prestige-seeking university students: strategic insights for higher education

This study explores the importance of psychographic characteristics as potential segmentation bases in the higher education sector. In particular, we develop a taxonomy of university students based on their achievement orientation and prestige sensitivity. The study analyses the survey data obtained from 948 respondents using cluster analyses and multiple analysis of variance (MANOVA), indicating interesting findings. Three distinct clusters emerge, namely Strivers, Modest Achievers and Prestige-seeking Innovators. Findings reveal that Prestige-seeking Innovators have a more positive attitude towards the university, whereas Strivers have the strongest sense of regret over their decision to enrol at their current university and would seize the opportunity to enrol in a more prestigious university. The taxonomy is highly relevant to marketers of higher education institutions as it gives insights into potential bases for segmentation, positioning and communication strategies targeting the specific characteristics of each segment.     

Linking Brand Orientation with Service Quality,Satisfaction, and Positive Word-of-Mouth: Evidence from the Higher Education Sector

Brand orientation has been recognized as having a positive impact on organizational performance in both commercial and nonprofit sectors. However, limited studies have examined the moderating effects of brand orientation in the nonprofit sector, particularly in the higher education context. This study attempts to examine the construct of brand orientation from the perspective of the students and examine its moderating role on the relationship between service quality, satisfaction, loyalty, and word-of-mouth (WOM) communication behavior. Two hundred and fifty-eight questionnaires were completed by undergraduate students of an Australian university. The study found that students’ perception of a university’s brand orientation significantly moderates the relationship between service quality, loyalty, and WOM communication behavior. Significant managerial and theoretical implications were identified.     

Geopolitical risks and stock market dynamics of the BRICS

This paper examines the effect of geopolitical uncertainty on return and volatility dynamics in the BRICS stock markets via nonparametric causality-in-quantiles tests. The effect of geopolitical risks (GPRs) is found to be heterogeneous across the BRICS stock markets, suggesting that news regarding geopolitical tensions do not affect return dynamics in these markets in a uniform way. GPRs are generally found to impact stock market volatility measures rather than returns, and often at return quantiles below the median, indicating the role of GPRs as a driver of bad volatility in these markets. While Russia bears the greatest risk exposure to GPRs in terms of both return and volatility, India is found to be the most resilient BRICS nation in the group. Noting that geopolitical shocks and in particular terrorist incidents are largely unanticipated, our findings underscore the importance of a strong financial sector that can help return the market to stability and an open economy that allows local investors to diversify country-specific risks in their portfolios.     

Sun,sand and September 11: a model of tourism demand for the Maldives

Tourism is a key source of income for many small island economies, and so it is important to understand its determinants in such countries. We estimate a tourism demand model for the Maldives’ five main source markets and find that, in addition to the usual foreign income and own price variables, the cost of travel and of visiting alternative destinations (often missing from studies of this nature) almost always have a significant role. In addition, the country’s own marketing efforts prove effective at influencing demand. Finally, we find evidence the War on Terror has persistently depressed demand from some markets.     

An empirical investigation on the role of market orientation in church participation

• In recent years, the concept of market orientation has become an attractive avenue for research in marketing. Despite an array of applications of market orientation in the context of religious organisations, an empirical examination of the role of market orientation in affecting church participation remains limited. The purpose of this research is to develop and test a model that explains the role of market orientation in a church participation context. Data were collected from a particular church denomination in Australia using a self-administered questionnaire. This yielded a useable sample of 344. Confirmatory factor analysis was used to test the validity and reliability of the measures, while structural equation modelling was used to test the hypotheses. The findings suggest that market orientation is significantly related to church participation. Further, competitor orientation was found to be negatively associated with church participation. These findings suggest that it is important for church leaders to: (1) understand the needs of church members (customer orientation), (2) ensure that the various ministries in the church are perceived as delivering significant value by its members (interfunctional coordination), and (3) ensure that the range of ministries offered by the church is not perceived as the strategic tools to compete with other churches (competitor orientation), but rather as the means to serve its members effectively.

Copyright © 2010 John Wiley & Sons, Ltd.     

The Role of Brand Orientation in Church Participation: An Empirical Examination

Although a large amount of research has been undertaken into the application of marketing techniques in church organizations, few studies have provided empirical evidence on the effects of brand orientation on church participation. This empirical study sought to contribute to the body of literature via a survey of 344 church attendees of a particular church denomination in Australia. The conceptual model hypothesizes brand orientation as performing direct and indirect effects on church participation through perceived benefits as the mediating variables. A person's perception of the extent to which a church engages in brand-oriented activities and behavior is significantly related with his or her perception of the benefits associated with church activities, which then leads to a higher level of church participation. The results reveal that brand orientation is significantly related with perceived benefits and church participation.     

How great thy brand: the impact of church branding on perceived benefits

• There are mixed opinions in the literature in regards of the appropriateness, relevance and significance of church branding in the context of church participation. This pilot study applied the ‘perceived brand orientation’ (PBO) construct in church context and examines its impact on perceived benefits among regular church goers of one Pentecostal denomination and non‐regular church goers. The results indicate that PBO is significantly related to perceived spiritual, social and purpose‐in‐life benefits in both sample groups. A multigroup analysis also found that PBO has a stronger effect on perceived benefits among non‐regular church goers. This study highlights the importance of being brand‐oriented to attract members' participation. Relevant implications for church leaders and managers of nonprofit organizations are also identified.

Copyright © 2013 John Wiley & Sons, Ltd.