An Empirical Investigation of the Resource-based Antecedents of Customer Value in Turbulent Environments in China

With the increasingly turbulent environment and the significant role of customers in business success, creating and delivering superior customer value by deploying unique competences of a firm has been winning more attention. However, studies of customer value seem rather divergent and fragmented, and few studies, if any, have been conducted to identify the distinctive capabilities that determine the effective and efficient creation and delivery of customer value. This paper tries to bridge such gaps and explores the fundamental antecedents of customer value in turbulent environments in perspective of a resource-based theory. Based on the structural equation models developed, we find that technological competences, integrative competence and strategic flexibility are the key resource-based antecedents of customer value while no evidence is found to support the impact of marketing competences on customer value. Furthermore, only the moderating role of marketing turbulence in the relationship between customer value and strategic flexibility is detected and supported.     

基于复杂多响应相关性的稳健性优化设计

本文对目前复杂多响应问题中,响应间相关性复杂问题的稳健性优化设计方法进行了分析和总结,考察了2种复杂多响应的稳健优化技术,比较了各种方法的特点同时又考虑了稳健性满意度函数法,并对其进行了优化。研究结果表明,最优化稳健性满意度函数法能够很好的平衡复杂多响应中的优化与稳健性的问题,可以很好的解决现代工业产品中只考虑最优化忽略稳定性而导致"召回门"不断的问题。     

CEO regulatory focus and myopic marketing management

This study details the mechanisms on how CEO regulatory focus affects the salience of the gains versus losses involved in myopic marketing decision-making, and how such CEO psychological attributes interact with internal equity-based compensation, external pressure from equity analysts, and environmental turbulence to affect firms’ myopic marketing management propensities. We find that when faced with short-term earnings pressure to meet earnings expectations and when time is no longer a resource, predominantly promotion-focused are more likely to engage in myopic marketing management to benefit from the temporary stock price increase, which comes from meeting or beating earnings expectations. Conversely, predominantly prevention-focused CEOs are less prone to such short-termist actions which results in long-term value loss. For the moderating variables, we find that: (1) equity-based compensation tends to attenuate myopic marketing tendencies of promotion-focused CEOs but have no impact on prevention-focused CEOs, (2) whether equity analysts improve monitoring or aggravate short-term earnings pressure depends on the CEO’s regulatory focus, and (3) environmental turbulence does not increase the myopic marketing management tendencies of predominantly promotion-focused CEOs but rather intensifies the relunctance of prevention-focused CEOs to take short-termist actions. We further find that myopic marketing management mediates the impact of CEO regulatory focus on future firm performance. These findings have important implications for firms and boards when selecting new CEOs and structuring the compensation of existing CEOs. Firms need to simultaneously consider the fit between the CEOs’ regulatory focus, firms’ needs, the business environment, as well as CEO compensation structure.     

Investigating the influence of velocity performance on satisfaction with third party logistics service

The Third Party Logistics (3PL) service industry is characterized by customer relationships that can extend over several years, involving multiple instances of service delivery. When services are delivered on an ongoing basis, customers are able to not only evaluate positional (current) performance, but also velocity (rate at which the service changes) performance. This research presents findings from an empirical study utilizing an online survey of 3PL customers to examine the influence of these two types of performance on 3PL service satisfaction. Environmental moderators including market turbulence and competitive intensity are also examined, and results indicate that velocity performance is a more important driver of satisfaction when customers operate in industries characterized by high market turbulence. The findings suggest that 3PL service providers should implement velocity performance metrics, especially for customers operating in rapidly changing environments, and use velocity performance information during the sales process and customer negotiations.     

悖论式领导对团队创新绩效的影响研究——失败学习与技术动荡性的作用

悖论式领导是一种新型领导风格,能够有效应对团队创新过程中的矛盾.本文基于社会认知理论、经验学习理论,构建了一个被调节的中介模型.基于311份问卷数据,运用层次回归、bootstrap等数据分析方法,实证检验了悖论式领导对团队创新绩效的影响机制,并进一步探究了技术动荡性的调节作用.研究发现:悖论式领导能够显著提高团队创新绩效;悖论式领导对团队创新绩效产生影响主要通过失败学习实现;技术动荡性削弱了失败学习对团队创新绩效的影响.本文不仅证实了悖论式领导在中国情境下的有效性,揭开了悖论式领导对团队创新绩效的重要作用机制,而且为组织正确认知和应对失败,从而提高团队创新绩效提供了新的解决方式.     

Cointegration networks in stock markets

We use a novel approach based on a combination of network and cointegration analysis to examine linkages between stock markets across market cycles. Our results show that long-run linkages are likely to be global rather than regional and that market turbulence increases linkages. However, we find no widespread common stochastic trends between markets and neither are we able to draw a conclusion that major financial markets display influences network linkages.     

Board structure and firm capability: An environment-embedded relationship between board diversity and marketing capability

The role of the firm’s top governance team, the board, is largely missing in the capability literature. This paper takes the first step to link board diversity, one of the most critical traits of the board, to marketing capability. Further, this relationship is embedded into a contingency-based model involving a set of environmental factors, munificence, turbulence, and competition intensity. This model illustrates how the internal top governance traits and external factors may jointly and dynamically affect firm competency. The empirical results show that board diversity significantly increases marketing capability. This effect is stronger when a firm faces unfriendly market situations characterized by low munificence, high turbulence, and intensified competition. This study generates meaningful theoretical implications for marketing capability-building of business firms, especially in the business-to-business (B2B) settings in which reciprocal organizational engagements are more emphasized. It also advances firm governance theories and business environment studies, and provides useful guidelines for managerial practices.     

New Firms' Survival and Market Turbulence: New Evidence from Spain

The availability of longitudinal data for individual firms has allowed the improvementof the existing knowledge on market structure dynamics. We present additional evidence through the analysis of a cohort of Spanish manufacturing firms. Our results confirm some basic empirical findings obtained in studies for other countries. According to the behavior of the cohort we study, Gibrat's Law does not hold for new entrants. Patterns of market turbulence vary considerably according to the type of industry. The behavior of new firms seems to fit the learning model. The estimation of a hazard function demonstrates that the main regularities affecting the likelihood of survival of young firms are quite similar in different types of countries.     

Market orientation and performance

This response is prompted by Hult, Ketchen and Slater's (2005) article entitled ‘Market orientation and performance: an integration of disparate approaches.’ As a contributor to the foregoing debate in the pages of this journal to which they refer I am writing to offer some observations on the nature and implications of the research reported in their paper and to clarify my essential difficulty as a strategist with the ‘market‐oriented: customer‐led’ construct. Copyright © 2007 John Wiley & Sons, Ltd.     

The myth of turbulence

This article reviews some current usages and contexts of turbulence. It finds little analytic content, but strong connotations of confusion, suggesting that perceived turbulence in the environment may be ‘projection’ in the psychologists’ sense from a confused organization. The popularity of turbulence is attributed to focus by analysts on ailing organizations, proferring expert solutions of the kind which have already diverted organizations from concentration on task.