Banks’ deferred tax assets during the financial crisis

Review of Quantitative Finance and Accounting - Prior studies have demonstrated that the net deferred tax liabilities of industrial firms are valued by market participants in a manner consistent...     

Corporate association strategies and consumer responses: The relative effectiveness of CA versus CSR communication strategy by industry type

Given the importance of communication in the realm of corporate associations, this study analyzes the roles that communication strategies play in the formation of corporate associations. The study examines (1) whether particular types of associations (corporate ability or corporate social responsibility associations) can be developed through CA- or CSR-based communication strategies, and (2) the relative effectiveness of these two association types at amplifying favorable consumer responses across three different industries (consumable goods, durable goods, and stigmatized goods). An experiment was conducted to test the proposed model with six Fortune 500 companies. The results demonstrate that communication strategies can effectively facilitate a particular type of association. Differing levels of association effectiveness were found within each industry. For the consumable goods industry, CA associations are found to be more effective than CSR associations. For the durable goods industry, CSR associations are more influential at enhancing consumer attitudes and purchase intent than CA associations, while CA associations have a larger impact on supportive communication intent. In the case of the stigmatized industry, CSR associations play a determinant role in fostering positive consumer responses. This study provides managers and communication specialists with more concrete guidance for choosing a particular corporate positioning and communication strategy.     

‘You really are a great big sister’ – parasocial relationships,credibility, and the moderating role of audience comments in influencer marketing

ABSTRACT

This study examines the moderating role of audience comments in influencer marketing. A YouTube vlog entry by a social media influencer featuring the endorsement of a brand was studied, and an experimental design featuring two conditions related to audience comments was created. The results indicate that a parasocial relationship with the influencer builds the perceived credibility of the influencer, while comments by other audience members moderate the effect. Influencer credibility positively affects brand trust and purchase intention. The findings enhance the understanding of the role of an active audience in influencer marketing.     

Budget impact analysis of secukinumab versus adalimumab in the treatment of ankylosing spondylitis

Background: Biologic treatments have enhanced the treatment outcomes of patients with active ankylosing spondylitis (AS). Until recently, TNF-alpha-inhibitors have been the only biologics approved for the treatment of active AS. The objective of this study was to assess the potential financial impact of the first non-TNF-alpha biologic secukinumab (fully human IL-17A-inhibitor) vs adalimumab (TNF-alpha-inhibitor) in the treatment of AS in Finland.

Materials and methods: In this model-based budget impact analysis, patients were treated either with secukinumab (150?mg) or adalimumab (40?mg). The number of patients and market share of different biologics were based on national reimbursement registry data. Adalimumab was the most commonly used biologic treatment for AS, and in the base case analysis all adalimumab patients are assumed to switch to secukinumab. Response rates were based on a matching-adjusted indirect comparison between secukinumab and adalimumab. Patients not achieving response were switched to another biologic treatment.

Results: Treating AS patients with secukinumab instead of adalimumab leads to potential savings of 18.2 million euros within a 5-year time period. The total costs within the follow-up time were 59.5 million euros and 77.7 million euros with and without secukinumab, respectively. According to sensitivity analyses, a higher adoption rate of secukinumab corresponds to higher potential savings.

Conclusions: Secukinumab is a cost-saving treatment option compared with adalimumab in the treatment of AS in Finland. More patients could be treated with a biologic by allocating resources more efficiently.     

The Effects of UI Benefits on Unemployment and Subsequent Outcomes: Evidence from a Kinked Benefit Rule

This paper analyses the effects of unemployment insurance benefits on unemployment exits and subsequent labour market outcomes. We exploit a piecewise linear relationship between the previous wage and benefits in Finland to identify the causal effects of the benefit level by using a regression kink design. Although we only find weak evidence of an effect on the time to the next job, higher benefits decrease the time spent in part-time unemployment and thus result in more full-time unemployment. The re-employment probability and post-unemployment wage are also negatively affected. The results for the duration of the first post-unemployment job are not conclusive, but in total both employment and earnings in the two years following the beginning of the unemployment spell decrease with higher benefits.     

IT-systeme als enabler von marketing-kooperationen: Steigert der einsatz von it den markterfolg durch vertikale marketing-kooperation?

Diese Studie zeigt auf, dass sowohl die Koordination von Marketingaktivit?ten zwischen vertikalen Partnern in der Wertsch?pfungskette (strategische Steuerungsebene) als auch gemeinsam geplante und durchgeführte Marketingaktivit?ten (operative Ebene) wichtig für den Markterfolg der beteiligten Unternehmen sind. Die Ergebnisse zeigen, dass dabei dem Einsatz von IT-Systemen zur Unterstützung dieser kooperativen Prozesse eine besondere Bedeutung zukommt, indem er diese Beziehung(en) zwischen der Marketing-Kooperation und dem Markterfolg von Unternehmen positiv moderiert.     

Tourists’ happiness: are there smart tourism technology effects?

The purpose of this study is to develop a research model demonstrating tourists’ value-seeking processes through the tourism services and travel experiences of a destination. The model suggests that tourist happiness is assessed by tourists’ perceived experiences, which are formed by two motivational values: smart tourism technology (STT) and destination value. Despite a large quantity of research attention on destination tourism, the relation between tourists’ destination experience and STT has been less enthusiastically studied. Therefore, this study proposes to test an integrated model with attributes of STTs and destination values that contribute to tourists’ life happiness. The results of this study, from a survey of 191 foreign tourists in Seoul, South Korea, indicate that tourists are likely to put more value on what they perceived from their destination travel experiences than what they perceived from their experiences with STT services when they evaluate their overall happiness. Theoretical and practical implications are discussed.     

The Antecedents and Consequences of Affordable Value Innovations for Emerging Markets

Emerging markets offer tremendous growth opportunities for firms. While established multinational firms typically focus on premium segments in emerging markets, they often fail to leverage additional growth opportunities in so‐called good enough or low‐income segments in emerging markets. Customers in these low‐income markets have substantially different requirements and are very price sensitive. Theoretical and case‐based research suggests that innovating for these low‐income segments in emerging markets differs significantly from innovating for premium or traditional Western markets. We argue that tapping successfully into low‐income segments in emerging markets requires the development of new products that meet the low price expectations while at the same time offering also value to customers in these segments. We refer to these new products as affordable value innovations. We analyze the antecedents of affordable value innovation for emerging markets. We draw on institutional theory to derive three potentially relevant antecedents of affordable value innovation for emerging markets. These are bricolage, local embeddedness, and standardization. We test our hypotheses using multiple informant data from 47 multinational corporations involving 103 innovation projects that target low‐income customers in emerging markets. Our empirical analysis shows that all three antecedents have significant effects on the level of affordable value innovation: while bricolage and local embeddedness are positively related to the level of affordable value innovation, standardization has a negative impact. We also examine the relationship between the level of affordable value innovation and performance. We find evidence for our basic assumption that a firm's capability to develop and launch affordable value innovations is key to success in emerging markets. It indicates that a firm's investments in affordable value innovations for emerging markets pay off financially. Finally, a cross‐regional comparison of our data shows that the key findings on antecedents of affordable value innovation and its impact on performance do not vary across various emerging markets. Overall, our findings offer important implications for research on and the practice of innovation for low‐income segments in emerging markets.     

Open Innovation in Emerging Markets: A Business Model Perspective

There has been significant contribution to the management literature on open innovation and partnership strategy, detailing their nature and impact in a wide range of business environments. However, “strategic positioning” of the business model based on their interactions with other business entities has not received enough academic attention despite its implications for the new generation of start-ups in emerging markets who do not have any prior business models to emulate. This research conceptualizes a framework that would help strategists position their firm in the market by carefully analyzing its interactions with other business and social entities in the business eco-system.