What Do We Conclude from the Success and Failure of Mergers?

Tichy's review of the evidence presents at best a very mixed picture of the success of mergers as a corporate strategy. However, care should be taken not to interpret this as a case for crudely prohibitive competition policy. A simple framework is developed to show that mergers anticipating market changes might not be inappropriate, even when ex post results will appear disappointing. We argue that the competition authorities should protect consumers, and not provide management consultancy on behalf of shareholders. We suggest a more limited reform of the EC Merger Regulation than that proposed by Tichy.     

What Do We Know about Trade Promotions? Contributions,Limitations, and Further Research

The trade promotion area remains seriously under-researched compared with its share of the overall marketing mix budget. This review attempts to provide an up-to-date account of what we know about trade promotions. For eight major topics we elaborate on what that topic means in the context of trade promotions, why it has been deemed important, what empirical findings have emerged in that area, and proposeareas for future research.     

On the Effectiveness of Social Marketing—What Do We Really Know?

Social marketing continues to play an important role, as societies are facing diverse social problems. Therefore, scientific findings on the effectiveness of social marketing are particularly interesting. A rigorously elaborated, structured, state of the art covering two aspects—not only the currently observed restricted focus on health campaigns, but also the whole spectrum of topics and the diversity of applied methodologies—is needed. Accordingly, this article aims to identify and categorize relevant findings on the effectiveness of social marketing in a tentative holistic model, with a main focus on framing determinants. A research agenda, which includes research propositions on framing determinants in social marketing effectiveness, to enhance scientific progress in the field, is deduced from this state of the art.     

Ethical Judgments: What Do We Know, Where Do We Go?

Investigations into ethical judgments generally seem fuzzy as to the relevant research domain. We first attempted to clarify the construct and determine domain parameters. This attempt required addressing difficulties associated with pinpointing relevant literature, most notably the varied nomenclature used to refer to ethical judgments (individual evaluations of actions’ ethicality). Given this variation in construct nomenclature and the difficulties it presented in identifying pertinent focal studies, we elected to focus on research that cited papers featuring prominent and often-used measures of ethical judgments (primarily, but not exclusively, the Multidimensional Ethics Scale). Our review of these studies indicated a preponderance of inferences and conclusions unwarranted by empirical evidence (likely attributable at least partly to inconsistent nomenclature). Moreover, ethical judgments related consistently to few respondent characteristics or any other variables, emergent relationships may not always be especially meaningful, and much research seems inclined to repetition of already verified findings. Although we concluded that knowledge about ethical judgments seems not to have advanced appreciably after decades of investigation, we suggested a possible path forward that focuses on the content of what is actually being judged as reflected in the myriad of vignettes used in the literature to elicit judgments.     

The Relative Impact of Market Orientation and Entrepreneurship on Export Performance: Do We Really Know Enough?

ABSTRACT

The impact of international corporate entrepreneurship and market orientation on firm performance is well acknowledged in the literature, but their relative influence on the performance of exporting firms remains inconclusive. This study seeks to help clarify the influence of these organizational resources by introducing a third complementary resource, namely commitment to learning. The results, based on data obtained from a survey of exporters in China, show that commitment to learning mediates the relationship between market orientation and entrepreneurship. It was also found that market orientation could be a double-edged sword for exporters in that it can enhance export satisfaction through entrepreneurship, but it can also have negative impact on profit.     

Do Chinese Retail Option Traders Know Anything about Market Volatility?

This paper examines the information content of implied volatility in the Chinese covered warrant market and finds that the implied volatility is consistently higher than the realized volatility for all warrants and across all maturities. The implied volatility has very little information content for future volatility in the Chinese warrant market which is dominated by retail investors. Possible explanations for the results are regulatory issues such as restrictions on the short-selling of warrants, differential trading rules for stocks and warrants, high leverage and low trading costs and a market dominated by retail investors.     

What Do We Really Need? Goals and Values,Security, and the Perception of Consumer Necessity

There is a general trend for consumer goods considered luxuries to become thought of as necessities. Although the luxury/necessity distinction is central to the fields of marketing and economics, little research has examined the perception of necessity as a psychological phenomenon. Three studies examined the relationship of the perceived necessity of a variety of consumer goods to goals, values, and insecurity. In Study 1, the number of goods considered necessities as opposed to luxuries correlated negatively with intrinsic and positively with extrinsic goal pursuit. In Study 2, this pattern generalized to the distinction between needs and wants, the extent to which participants reported needing their possessions, and to materialistic values. In Study 3, the perception of necessity mediated the relationship between anxious attachment and materialism, suggesting that needing consumer products has in part a basis in interpersonal insecurity. In turn, it may facilitate materialistic consumption.     

How Much Do You Know about Private Banks？

Magnificent history In China,the private banking sec- tor is relatively new,even though it has a 100-year history in the U.S.and Europe. After originating in Geneva,Switzer- land,private banks have undergone leg- endary growth.     

(Un)Ethical Leadership and Identity: What Did We Learn and Where Do We Go from Here?

The purpose of this article is to highlight and comment on the key findings emerging from the collective efforts of the special issue on leadership, ethics, and identity. Highlights include definitional advancements, processes comprising ethical leadership, as well as outcomes and moderating factors. In addition, I attempt to synthesize work across authors by identifying common themes as well as conflicting elements in the article. I conclude with a discussion on emerging areas in need of future research investigation in the leadership and ethics arena.     

Development Through Business: What Do American Business Students Know About Emerging Markets and Opportunities in Africa?

This article investigates how Africa is taught in business and examines African and American student perspectives on business in Africa. Conclusions find that African students, business students or not, had more knowledge about business and economic structures than American business students; however, learning about successful case studies on business in Africa proved to motivate both students and faculty. The nexus between international development and business is emphasized and training business students to seek potential partnerships with African businesses is underscored. The article ends with educational recommendations and cites the advantages of introducing students to emerging opportunities in business on the continent.     

Do Depositors Benefit from Bank Mergers? An Examination of the UK Deposit Market

This study examines whether depositors benefit from bank mergers Specifically, do horizontal retail bank mergers influence the availability and interest rates of deposit services? This examination is important, as the effect of mergers on customers is a primary merger assessment criterion in the European Union and the United States. The research question is addressed by considering 57 UK banking mergers over the period 1989–2008. It is reported that different deposit services and deposits of different values face statistically insignificant levels of interest-rate change after mergers. The availability of notice deposit services for low and high levels of investment are reduced after mergers and are largely unchanged for other deposit services. It is concluded that UK depositors benefit little from bank mergers, and different types of depositor face differences in the availability of deposit services after mergers.     

Can a Marketing Product Classification System Predict Dot.Com Retail Success and Failure?

ABSTRACT

Dot.com stocks skyrocketed to unparalleled heights in 1999. Many pundits proclaimed Dot.coms the “industry of the new millennium.” In contrast, 2000–2001 ushered in a shocking Dot.com collapse. Today, many are asking what went wrong? This study examines a model that may help identify failure points and forecast Dot.com success and failure. The results of the study indicate that shopping products are a category of products that consumers are very willing to purchase online. Convenience products, specialty products, and unsought products are categories of products consumers are very unlikely to purchase online. The study concludes with some intriguing and important implications for Dot.com retail managers and researchers.     

What about China's Trade Deficit?

With its rapid economic growth over recent years,China has become an important force to be reckoned in the world.The ever-rising trade surplus makes a good example.But does Chinese enjoy a trade surplus with every foreign country? The answer is"No". Official statistics show that China has a trade defi- cit with partners in East Asia including Japan,North Korea and ASEAN(Association of Southeast Asian Na- tions)countries.In terms of trade structure,China also suf-     

What about the Intended Consequences?

Research that examines race-stereotyped advertising emphasizes the social impact of these representations and overlooks the potential positive effect on advertising effectiveness. The present research examines the effects of race-stereotyped portrayals on advertising effectiveness among both members and nonmembers of a group that is stereotyped in an advertisement. We integrate research on consumer identity, social categorization, and advertising persuasion to hypothesize the process underlying viewers' attitude formation when exposed to advertising featuring a race-stereotyped portrayal. Results of an experiment conducted in South Africa demonstrate that members of the group that is the subject of the stereotyped portrayal (stereotyped viewers) feel offended. At the same time, results suggest that nonstereotyped viewers experience ambivalence when exposed to stereotyped portrayals. Findings highlight the role of viewers' strength of identification and provide guidance to advertisers with regard to the use of stereotyped portrayals in advertising.     

Elderly Latinos in the U.S.: What Do They Know and Think About HIV/AIDS?

ABSTRACT

Previous research on efforts to change health related behaviors indicates that such change may be affected by an individual's knowledge and attitudes, sense of self-efficacy and of susceptibility, and the norms of his or her reference group. This paper presents results from analysis of responses to the National Health Interview Survey's questions about AIDS knowledge, attitudes, susceptibility and behavior, comparing older Latinos both to older non-Latino Americans and to younger Latinos. Data from the NHIS 1994 survey is analyzed; questions on AIDS knowledge and attitudes are investigated and the effects of age and ethnicity are compared.

The results demonstrate significant differences by ethnicity and age. While substantial majorities of all groups know the basic information about HIV transmission, of the four, older Latinos have the highest proportion of people with some inaccurate information.     

Why Do We Buy Traditional Foods?

Consumer behavior toward traditional specialties varies according to the cultural context of consumption. It thus becomes crucial to develop marketing strategies that target segments with different levels of familiarity with food. Our article purposes to analyze the purchase drivers of traditional foods known to consumers because of their reiterated consumption. The importance of the product’s attributes, the purchasing motivations, and the information channels are studied by applying the CUB model, which utilizes a probabilistic structure that simulates the individual’s psychological mechanism in adopting a choice of preference. The case study is that of extra-virgin olive oil in Italy, where this product is a fundamental element of the culinary tradition. The results show that in the ambit of traditional specialties, in contexts of elevated familiarity, the traditional information channels of marketing are less effective and call for strategies based on a more direct connection between consumer and producer.