A Methodological Perspective on the Evaluation of the Promotion of University–Industry–Government Relations

Evaluation criteria can be expected to differ with the institutional perspectives in university-industry-government relations. How can one use evaluation for the improvement of the innovative capacity of these networks? Indicators used for the evaluation, can be specified as variables in a model. The model can be used, among other things, to distinguish between intended and unintended outcomes of the practices under study. Institutionalized arrangements generate filters which stimulate innovation selectively. A focus on failures is fruitful for knowledge-based innovation since it allows for the further specification of expectations. The latter can also be turned into research questions.     

What influences the relationship between customer satisfaction and repurchase intention? Investigating the effects of adjusted expectations and customer loyalty

This study examines how loyalty influences the relationship between customer satisfaction (CS) and repurchase intention (RPI). Considering the effect of time, the study introduces adjusted expectations, which are expectations updated after consumption experience. The present study investigates the role of adjusted expectations in the CS–RPI link. With structural‐equation analysis, the proposed model was tested in the family‐restaurant setting. The results show that adjusted expectations can mediate the effect of CS on RPI. The results also indicate that processes underlying the CS–RPI link are different between low‐loyalty and high‐loyalty customers. Specifically, the transient route, which reflects the indirect path from CS to RPI via adjusted expectations, has a greater impact for nonloyals than for loyals. On the other hand, the chronic route, which represents the direct path from CS to RPI, has a greater impact for loyals than for nonloyals. CS is found to have no direct influence on RPI for low‐loyalty customers. © 2004 Wiley Periodicals, Inc.     

Managerial Attitudes Toward Stakeholder Salience Within Selected Western Pacific-Rim Economies

ABSTRACT

This study empirically examines the attitudes of managers and managerial students in Australia, China and Indonesia, toward the perceived prominence of selected organisational stakeholders. A development model is used to argue that Australian respondents will perceive greater equality in prominence between the selected organisational stakeholders than their Chinese and Indonesian counterparts. Results indicated that Chinese respondents attributed greater prominence toward Government as an organisational stakeholder, and contrary to expectations, perceived greater equality (less variance) in prominence between stakeholders. The study provides a basis on which further work on the perceptions of stakeholder prominence can be undertaken in different contexts.     

The Indirect Impact of Price Deals on Households’ Purchase Decisions Through the Formation of Expected Future Prices

We examine the indirect impact of price deals, which occurs through the formation of expected future prices, on households’ purchase decisions. Two competing learning processes of households’ formation of expected future deals that lead to opposite predictions are proposed. Under a deal-probability learning process, a current deal on a brand raises households’ expectations of a deal on the same brand in the immediate future, while under a deal-timing learning process, a current deal on a brand lowers households’ expectations of a deal on the same brand. We embed each learning specification within a comprehensive econometric framework that simultaneously examines three purchase decisions – incidence, brand choice and quantity – at the household level, while explicitly correcting for two sources of selectivity bias in discrete quantity outcomes. We estimate the proposed model using scanner panel data on paper towels, and find that (1) the deal-probability learning process better describes how households incorporate the deal information into the formation of future price expectations compared to the deal-timing learning process; (2) the indirect impact of price deals is greater for brand-loyals than for brand-switchers; (3) the indirect impact of price deals is greater for larger families, heavy users, less educated and less employed households, and infrequent shoppers. We also show that ignoring the indirect impact of price deals severely overstates the sales effects.     

A pendulum gravity model of outward FDI and export

The paper proposes a pendulum gravity model of outward FDI and export. Outward FDI and export can be complementary or substitute, depending on the development stages of outward FDI. The development of outward FDI is accompanied by advancements in productivity, technology and favorable transformations in factor endowment differences, which can be reflected in the ratio of export to outward FDI. At early stages of outward FDI undertakings, the ratio of export to outward FDI is greater or much greater than the world’s average, outward FDI and export are conjectured to be complementary with our analytical framework. As outward FDI matures, the pendulum swings to the other side, i.e., the ratio of export to outward FDI becomes smaller than the world’s average. Outward FDI and export turn into substitute then. Empirical results and findings from examining two panel data sets support our conjecture and the proposed model, which integrate the two seemingly opposing sets of literature.     

How long has it been since the last deal? Consumer promotion timing expectations and promotional response

When modeling consumers’ forward-looking behavior using choice data on frequently purchased products, the common approach assumes that consumers have rational expectations about future promotions. Previous studies modeled such expectations using a first-order Markov (FOM) process. However, empirical evidence from several categories suggest that inter-promotion intervals can last several weeks implying that a FOM process that conditions future expectations of prices only on current-period prices can be limiting. We utilize a Proportional Hazard model (PHM) to characterize consumers’ rational expectation of future price promotion. We first show that estimating a dynamic structural model that uses a FOM specification for rational expectations can bias estimates of promotion effects with both simulation analysis and scanner panel data from four consumer packaged goods product categories. Secondly, we empirically show that a structural model employing a PHM specification for promotion expectations fits the data better than ones that assume only a FOM price or promotion expectation. Lastly, we show using an analysis of promotion policy changes that a structural model with a FOM expectation can lead to suboptimal managerial decisions.     

Why are you so tolerant? Towards the relationship between consumer expectations and level of involvement

It is vital that managers understand the way consumers form their expectations so that quality services are offered. Therefore, the aim of the paper is to assess the behaviour of consumer expectations over time and what effect does the level of involvement have on them. Two field studies are realized with students from an educational institution under the perspective of cluster analysis and latent growth model. Our results reveal that the patterns of expectations change from one service meeting to another and these mutations can be explained by the degree of consumer involvement. As theoretical insights, in addition to broadening the debate about the antecedents of expectations, this study also reaffirms the dynamic behaviour of consumer expectations. Thus, the constant control of expectations shows a relevant strategic way for survival in competitive sectors.     

Expectations and Satisfaction in Channel Member Relationships in the Victorian (Australia) Fruit Industry

Abstract

The paper reports findings of research into the dynamics of customer satisfaction formation amongst fruit producers and their distribution channel(s), within the economically important northern Victorian (Australia) fruit industry. The paper suggests reasons why previous approaches to the issue of satisfaction in channel member relationships, which typically utilize constructs of ‘economic’ and ‘non-economic’ satisfaction, may usefully be supplemented by application of the ‘disconfirmation of expectations’ model. The research actually tests a modification of the traditional disconfirmation model that incorporates dimensions of ‘outcome’ and ‘process’ at the levels of expectations, performance and disconfirmation—a ‘dualistic’ model. This had previously been tested only in a radically different business-to business-context, that of advertising creative services. The findings suggest that satisfactory measurement of growers' expectations can be achieved. They also suggest that the disconfirmation model does appear to apply in this previously untested service context, whether unitary measures of expectations and performance, or the dualistic interpretation of expectations/performance, are utilized.     

The Effect of Internet Expertise on Offline Expectations

ABSTRACT

Because the Internet enhances consumer control over online marketing transactions, more expert web users are hypothesized to generalize this web expertise to their expectations of offline service encounters. This hypothesis is supported for consumers with moderate web expertise as compared to those with little web expertise. However, web users with high levels of expertise have lower expectations of offline encounters than those with moderate expertise. The lower expectations of the most expert web users are likely to be due to a lower level of involvement with offline service encounter, a greater awareness and use of online information by the most expert, and possibly a greater propensity to distinguish between online and offline encounters.     

Non-explicit FOREX intervention: The role of the Central Reserve Bank in a dollarized economy and its effects on expectations from the “peso problem” perspective: The case of Peru

We use the Markov-switching model based on Hamilton (1990) among others. The non-explicit intervention of the Central Reserve Bank changes the expectations of economic agents. This change in expectations clearly shows that the public is aware of non-explicit interventions in a dollarized economy and said interventions have been altering the expectations of economic agents in terms of the foreign exchange market. We conclude that market participants assume that the Central Reserve Bank is more efficient in reducing volatility in periods in which the domestic currency appreciates rather than depreciates. The results show that the Markov-switching model behaves more than satisfactorily in the sample period but less so in periods of extreme volatility such as the recent sub-prime crisis. Central Bank's forex interventions are policy instruments that can be followed and interpreted by the public.     

A method for the assessment of relative brand strength: a UK tour operator example

This study provides a method of uncovering the brand strengths and weaknesses of major tour operators in the UK. It provides an approach that provides a weighted assessment of attributes which is a culmination of the weighting of all measures from a two stage research model. The study provides a method that can be applied elsewhere but specifically identified Airtours as having the lowest score for brand attributes and image, a result that may well be associated to their previous rejection of branding in favour of maintaining low prices to customers. From the core values identified, it became evident that most operators' worst score was for efficiency. Perhaps the most predictable of the findings was that the Virgin brand was most familiar to younger respondents. Age was a major variable in terms of the ranking of the attributes. Over 55s ranked accommodation, efficiency, reliability and reputation higher than any other age category. Such consistency indicates that the more senior age group has greater expectations of the services offered by the tour operators, or else require a better service in order to be satisfied. A gap in the market was identified for a brand to promote itself as part of the emotional holiday experience in addition to performing the basic operator functions. Such market positioning would also present opportunities for brand differentiation. In conclusion this study has implications for other brand assessment exercises and therefore offers a model of approach for other sectors.     

ERROR-CORRECTION, ⇐ SURPRISE ⇒ MODELS AND THE DIFFERENTIAL APPROACH TO THE CONSUMPTION FUNCTION(*)

The paper provides a general theoretical framework that allows a comparison and a possible reconciliation of error correction models of consumers’behaviour and the life cycle hypothesis under rational expectations. It is suggested that by relaxing the assumption of intertemporally strongly separable and homothetic preferences, a generalization of Hall's random walk model can be derived, containing an error correction mechanism.     

Currency crises, sunspots and Markov-switching regimes

This paper investigates the theoretical properties of a class of escape clause models of currency crises as well as their applicability to empirical work. We show that under some conditions these models give rise to an arbitrarily large number of equilibria, as well as cyclic or chaotic dynamics for the devaluation expectations. We then propose an econometric technique, based on the Markov-switching regimes framework, by which these models can be brought to the data. We illustrate this empirical approach by studying the experience of the French franc between 1987 and 1993, and find that the model performs significantly better when it allows the devaluation expectations to be influenced by sunspots.     

A monetary approach to measuring long-run inflationary expectations

In this paper, a model of long-term monetary equilibrium is used to construct an empirical model of long-run inflationary expectations. This model is estimated and used to construct out-of-sample estimates of long-run expected inflation. Comparisons of expectations measures from this model with those from commonly-used autoregressive models and with a model drawn from the term structure clearly favors the former.     

Gender Differences in Service Quality Expectations in the Fast Food Industry

Abstract

Services marketers can influence the evaluation of service quality by “managing” customer expectations. Expectations can also provide insights into market segmentation strategies. Gender is often used as a segmentation variable since it is easily identifiable, accessible, and profitable. The purpose of this study was to examine if there are any gender-based differences in the expectations of service quality in the fast food industry. Hypotheses on gender differences in expectations were tested by an ANOVA, where the composite scores of each of the five dimensions of fast food service were used as dependent variables. The expectations of women were significantly higher than men in four of the five dimensions of fast food service quality.     

The Use of Co-ordination Theory to Improve Service Quality in Executive Search

This article considers service quality in a business service industry - execirtive search. It uses co-ordination theory to idtentify the ‘service garps’ which occur in the use of executive search consultancies and considers the ways in which these gaps can be closed. The use of an executive search consultant turns the recruitment process into a three-way relationship -between client, consultant and candidate -and raises the possibility of further service gaps than those identified in the service quality literature. This article finds that there are gaps in expectations evident in all three arms of the relationship but that they are much wider where the candidate is involved. The use of a consultant introduces uncertainty into the process (especially on the part of the candidate), the issue of who has responsibility for what within this relationship is not satisfactorily resolved or communicated. Ways in which the process can be managed to reduce the size of the expectations gaps are considered.     

Creating strategic change in procurement orientation: A strategy for improving competitiveness

The changes in the business environment with technological breakthroughs and crumbling national barriers are pressuring firms to become more efficient and entrepreneurial in order to compete in globalized markets. To meet these pressures is no simple task. Far-sighted exeutives are responding by initiating wrenching revisions of their firm's competitive postures, internal controls and corporate cultures. All these changes are forcing top management to alter its expectations of its purchasing organization. No longer can firms create, design, launch, and provide viable products throughout their life cycles without regard to the supply aspects of the material and components that go into them. The paper proposes a model for achieving a purchasing orientation change strategy, and argues the need for the purchasing organization to be strategically oriented to improve the company's competitive posture in the marketplace.     

A framework for managing customer expectations

Marketing scholars have argued that firms should meet or exceed customer expectations in order to achieve customer satisfaction. Often, however, customer expectations maybe unjustified, infeasible, or unproductive to meet. These need to be shaped rather than fulfilled. The authors identify three broad approaches to the shaping of customer expectations: human resource management, framing, and compliance. These are described along with the type of expectation shaping tasks for which each is appropriate and illustrations of marketing mix tools which implement them.     

高精度机载可见光图像定位方法

针对现有技术不能解决机载可见光图像快速自动定位的问题，提出了一种定位精度高、处理速度快、可扩展性好的机载可见光图像定位方法。该方法以传感器共线成像模型为中心，将实时图像和传感器成像参数送入共线模型进行正射校正，校正后的图像与相应的基准图像进行图像配准，使用配准同名点信息更新传感器成像参数，最后再次通过共线模型获取实时图地理坐标定位信息。这种通过图像配准再计算成像模型的间接定位方法，不仅减少了计算量，而且使自动配准算法稳定，较传统的直接定位方法或图像配准方法有突出的优势。此外，该方法具有严格的误差传递计算公式，能计算定位结果的误差。仿真实验表明即使在大倾斜角条件下，该方法也能获得优于100 m的定位精度。     

Markov chains under nonlinear expectation

In this paper, we consider continuous‐time Markov chains with a finite state space under nonlinear expectations. We define so‐called Q‐operators as an extension of Q‐matrices or rate matrices to a nonlinear setup, where the nonlinearity is due to model uncertainty. The main result gives a full characterization of convex Q‐operators in terms of a positive maximum principle, a dual representation by means of Q‐matrices, time‐homogeneous Markov chains under convex expectations, and a class of nonlinear ordinary differential equations. This extends a classical characterization of generators of Markov chains to the case of model uncertainty in the generator. We further derive an explicit primal and dual representation of convex semigroups arising from Markov chains under convex expectations via the Fenchel–Legendre transformation of the generator. We illustrate the results with several numerical examples, where we compute price bounds for European contingent claims under model uncertainty in terms of the rate matrix.