No easy solutions: lessons learned from an intervention to reduce clinic non‐attendance rates in a Scottish hospital

Hospital waiting lists and times have become the public measure of government success or failure. This research examined existing hospital outpatient capacity and considered the age‐old problem of patients who fail to attend their appointment. A reduction in did‐not‐attend (DNA) rates would maximize utilization of capacity, ensure early diagnosis and drive down waiting times. The research was designed to determine whether the introduction of outpatient letters, which included the need for positive confirmation of attendance, decreased the incidence of patient non‐attendance. Utilizing an experimental design, data gathered at two Plastic Surgery clinics were compared over two three‐month periods, pre‐ and post‐implementation. Total attendance and non‐attendance were examined in terms of new and review patients, gender and age profile. The research concludes that the intervention tested in this form can now be discounted thus allowing the exploration of subtler solutions.     

Caring for older people: an analysis of the small business sector

This study aims to analyse the small business sector in Spain for institutional care. In the Autonomous Region of Valencia, this sector is represented by non‐profit institutions. Our results show that non‐profit centres easily fulfil the legal requirements, especially with regard to personnel. They are generally of high quality and receive a large amount of volunteer work and funds from donators. Small business centres show an accurate daily cost per user of up to €56.48, a substantially lower rate than those offered by large centres.     

Business‐to‐Business Branding: A Review and Assessment of the Impact of Non‐Attribute‐Based Brand Beliefs on Buyer's Attitudinal Loyalty

Business‐to‐business branding has received increasing attention from researchers in the last few years. Nonetheless, there is no agreement on the relative contribution of a brand versus an offering's functional attributes to the industrial buyer's preferences. Drawing on models from the business‐to‐consumer context, this paper demonstrates that non‐attribute‒based brand beliefs are predictors of hedonic outcomes as measured by industrial buyers' attitudinal loyalty, while attribute‐based brand beliefs are not. Moreover, the moderating role of the buyer's level of knowledge for the value‐generating process is identified, suggesting that the impact of non‐attribute‒based brand beliefs on attitudinal loyalty is greater for buyers with a low level of knowledge. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.     

Acquisitions Entry Strategies in Africa: The Role of Institutions,Target‐Specific Experience,and Host‐Country Capabilities—The Case Acquisitions of Finnish Multinationals in Africa

Acquisition is an important entry strategy for multinational enterprises (MNEs) seeking to gain faster entry into new and emerging markets and remain competitive in the global marketplace. MNEs utilize partial‐, staged‐, and full‐acquisition strategies when entering into foreign markets. This research analyzes how and why firms opt for these acquisition strategies in the context of Africa. The study applies institutional theory and explores constructs derived from the Uppsala internationalization process model. Using a case study of five Finnish acquisitions in Africa (Egypt, Morocco, Kenya, and South Africa), it was found that Finnish MNEs opt for partial acquisition rather than staged and full acquisition in the context of acquisitions made prior to late 1990s without earnout arrangements. Finnish MNEs opt for the choice of staged acquisition rather than partial and full acquisition in the contexts of mild regulatory framework in host countries and when the acquired firm business requires extensive improvements and the target host market structure is fragmented. Finnish MNEs opt for the choice of full acquisition rather than partial and staged acquisition in three contexts specifically: (1) when the acquiring Finnish MNE possesses host‐country capability, target‐specific experience, and ensures the retention of top management personnel of the acquired target; (2) when the size of the acquired target is relatively very small compared to the acquiring MNE; and (3) when the nature of the acquired firm business is well developed and the target host‐market structure is consolidating. © 2016 Wiley Periodicals, Inc.     

Consumer evaluations of brand extension: The roles of case‐based reminding on brand‐to‐brand similarity

Utilizing the case‐based reminding theory in analogical reasoning, this research proposes that the evaluation of a brand extension can be improved by reminding consumers of a similar brand in the extension category. This effect is derived from a brand‐to‐brand similarity, in addition to the product‐to‐product and brand‐to‐product similarity identified in prior literature. Experiment 1 explores the idea that the effect of similar case reminders is most pronounced in moderately similar extensions than in highly similar or highly dissimilar extensions due to schema congruity. Experiments 2 and 3 distinguish the levels of similarity (i.e., product‐to‐product, brand‐to‐product, and brand‐to‐brand similarity) as a source of consumers' evaluations on a brand extension and further eliminate an alternative explanation of instantaneous learning in the advertisement setup of Experiment 1. © 2010 Wiley Periodicals, Inc.     

Impact of Online Reviews on Consumer’s Hotel Booking Intentions: Does Brand Image Mediate?

Abstract

The recent trend suggests that people are more inclined to online hotel reviews to take online hotel booking decisions. The present study argues that when consumers are exposed to online hotel reviews, it draws an impression of the hotel brand in the mind of consumers, resulting in influence their hotel booking intentions. The current study determines the mediation effects of brand image between credible online hotel reviews and consumers’ hotel booking intentions. To ascertain the uni-dimensionality of the scales, the present study executes exploratory factor analysis. The ensure the internal consistency of the variable scales, the study determines Cronbach’s alpha. To measure the mediation effects, the present study performs structural equation modeling bootstrapping method. Data analysis reveals that marketers should look at hedonic brand image, which ultimately influences consumers’ hotel booking intentions. This is a unique study that ascertains the type of brand image that actually mediates between the impact of online hotel reviews and consumers’ hotel booking intentions. In addition, the paper furnishes theoretical background on how people interpret online hotel reviews and its effects.     

Is it ‘you’ or ‘your workplace’? Predictors of job‐related training in the Anglo‐American world

This paper examines the determinants of job‐related training and workplace voice. Using data from a unique 2016 cross‐national survey of Australian, British, Canadian and American employees, the paper contrasts two classic formulations in the literature; (1) the neoclassical/human capital approach which predicts that individual characteristics (such as age and education) which increase the efficiency of learning, will have the largest impact on the allocation of training (i.e. younger and more educated employees will be afforded training) and (2) the traditional institutional approach which favors the structural characteristics present at the industry and firm level, the nature of the job itself and the strategic choices of firms as the major predictors of job‐related training. We find that age – a key factor in the human capital model – plays a significant role in the allocation of training but that education (in keeping with recent evidence) does not. In sum the human capital model provides, at best, only a partial explanation for the differences in training observed across individuals. In contrast, variables invoked by the institutional literature (i.e. occupation level; industry; ownership type; and market structure) are highly significant and account for a much greater proportion of the variance in training observed across workers. Other institutional factors such as the presence of a union and a human resource department were strong positive predictors of job‐related training. But most important were product‐market strategy and employee voice. Respondents working in firms utilizing a ‘high road/high quality’ product/service strategy and with a workplace consultative committee were significantly more likely to receive training than similar workers employed in observably similar firms. This last finding supports the industrial relations view of voice as an important channel by which training is optimally delivered inside the firm.     

Reaching customers at the base of the pyramid—a two‐stage business strategy

Two‐thirds of the world's population make less than $2,000 a year. There is increasing attention paid to how private firms can play a role in improving the quality of life of people at the bottom of the economic pyramid in ways that are mutually beneficial. But despite the promise of mutual benefit, many firms have not been able to serve very poor customers profitably. In this article, we present a two‐stage business strategy that will help firms to serve customers at the base of the pyramid. We suggest that in the first stage, firms need a deep cost management strategy, involving a focus on core customer value, and holistic operations reengineering. In the second stage, we suggest that firms need to consider a deep benefit management strategy, involving value reengineering, partnering for excellence, and creating inclusive channels. We support our ideas with examples of successful and unsuccessful cases of firms that have tried to serve the poor. © 2010 Wiley Periodicals, Inc.     

Multilateral,Regional and Bilateral Trade‐Policy Options for the United States and Japan

We have used the Michigan Model of World Production and Trade to simulate the economic effects on the United States, Japan, and other major trading countries/regions of the Doha Round of WTO multilateral trade negotiations and a variety of regional/bilateral free trade agreements (FTAs) involving the United States and Japan. We estimate that an assumed reduction of post‐Uruguay Round tariffs and other barriers on agricultural and industrial products and services by 33 per cent in the Doha Round would increase world welfare by $686.4 billion, with gains of $164.0 billion for the United States, $132.6 billion for Japan, and significant gains for all other industrialised and developing countries/regions. If there were global free trade with all post‐Uruguay Round trade barriers completely removed, world welfare would increase by $2.1 trillion, with gains of $497.0 billion (5.5 per cent of GNP) for the United States and $401.9 billion (6.2 per cent of GNP) for Japan. Regional agreements such as an APEC FTA, an ASEAN Plus 3 FTA, and a Western Hemisphere FTA would increase global and member country welfare but much less so than the Doha multilateral trade round would. Separate bilateral FTAs involving Japan with Singapore, Mexico, Chile and Korea, and the United States with Chile, Singapore and Korea would have positive, though generally small, welfare effects on the partner countries, but potentially disruptive sectoral employment shifts in some countries. There would be trade diversion and detrimental welfare effects on some non‐member countries for both the regional and bilateral FTAs analysed. The welfare gains from multilateral trade liberalisation are therefore considerably greater than the gains from preferential trading arrangements and more uniformly positive for all countries.     

Export Premium,Self‐selection and Learning‐by‐Exporting: Evidence from Chinese Matched Firms

This study empirically focuses on examining the hypotheses of export premium (exporters are more productive than non‐exporters), selection‐into‐exporting (more productive firms are ones that tend to become exporters) and learning‐by‐exporting (new export market entrants have higher productivity growth than non‐exporters in the post‐entry period). The propensity score matching method is used to adjust for observable differences of firm characteristics between exporters and non‐exporters, allowing an adequate ‘like‐for‐like’ comparison. We also use the difference‐in‐difference matching estimator to capture the magnitude of different productivity growth between matched new export market entrants and non‐exporters in the post‐entry period up to two years. Drawing on 2,340 Chinese firms in the period 2000–02, we find evidence for export premium and self‐selection, and once the firm has entered the export market there is additional productivity growth from the learning effect, in particular in the second year after entry.     

POST‐KEYNESIAN EFFECTIVE DEMAND AND CAPITAL–LABOUR SUBSTITUTION

This paper analyses the relationship between the real wage rate and employment when we induce capital–labour substitution within a Post‐Keynesian Kaleckian model. To avoid the over‐determinacy problem, we consider a non‐homogeneous production function and cost minimization, in contrast to recent work that assumed a homogeneous production function and profit maximization. As a result, we find not only that increasing returns to scale are important in sustaining the long‐run stability condition, but also that if the increasing returns to scale are small, then it is more likely that employment will increase.     

The ethical and policy implications of profiling ‘vulnerable’ customers

In the shadow of the global financial crisis, the issue of the marketing of credit has become an increasing concern in the past 12 months. Outstanding personal debt in the UK currently stands at £1479 billion and is rising by £1 million every 10.6 min. In Australia, there is currently $44.6 billion worth of outstanding credit card debt, and in the US, $2596 billion was owed on credit cards in 2008. At present, the banking sector utilizes sophisticated research methods to profile consumers, including those who might be considered financially vulnerable. However, the policy frameworks in most industrialized countries do not account for this form of target marketing when considering how to protect vulnerable groups. This paper is an initial attempt to examine the different methods by which profiling is conducted and the policy implications of this sophisticated form of segmentation and targeting. We argue that current consumer policies are inadequate in protecting vulnerable consumers from these marketing techniques, and recent recommendations from the Federal Reserve Bank of the United States, and the Australian Law Reform Commission to allow banks and lenders to ‘pre‐screen’ potential customers will exacerbate personal debt levels, rather than reducing them.     

Offshore Outsourcing and Non‐production Workers: Firm‐level Relationships Disaggregated by Skills and Suppliers

In analysing the impact of offshoring on the skill composition, previous empirical studies have established that offshoring firms employ more non‐production workers. However, not all non‐production workers are highly skilled. This paper disaggregates non‐production workers into the following three categories: (i) skilled non‐production workers, (ii) unskilled non‐production workers and (iii) non‐production workers with special skills for offshoring and other overseas business management. By linking our offshoring survey data with firm‐level data for Japanese manufacturing firms, this paper finds that the share of skilled non‐production workers tends to be significantly high in offshoring firms but that of unskilled non‐production workers is not. As offshoring has expanded from production to non‐production tasks, this result implies that the distinction between skilled versus unskilled workers becomes critical among non‐production workers. Using our unique data on supplier types in offshoring, this paper finds that the share of non‐production workers for the management of overseas activities tends to be high in foreign direct investment firms and in firms outsourcing to foreign independent suppliers, but not in Japanese firms outsourcing to offshore suppliers located abroad but owned by other Japanese firms. This difference indicates that coordination burdens are likely to be at least partly mitigated by common languages or shared business practices. These findings suggest that offshoring has different impacts on employment depending on suppliers and the worker’s skill. The principal results are confirmed robust even after various firm characteristics are controlled for in panel regressions, though we should not give any causal interpretations.     

Density forecasts of crude‐oil prices using option‐implied and ARCH‐type models

The predictive accuracy of competing crude‐oil price forecast densities is investigated for the 1994–2006 period. Moving beyond standard ARCH type models that rely exclusively on past returns, we examine the benefits of utilizing the forward‐looking information that is embedded in the prices of derivative contracts. Risk‐neutral densities, obtained from panels of crude‐oil option prices, are adjusted to reflect real‐world risks using either a parametric or a non‐parametric calibration approach. The relative performance of the models is evaluated for the entire support of the density, as well as for regions and intervals that are of special interest for the economic agent. We find that non‐parametric adjustments of risk‐neutral density forecasts perform significantly better than their parametric counterparts. Goodness‐of‐fit tests and out‐of‐sample likelihood comparisons favor forecast densities obtained by option prices and non‐parametric calibration methods over those constructed using historical returns and simulated ARCH processes. © 2010 Wiley Periodicals, Inc. Jrl Fut Mark 31:727–754, 2011     

Impacts of COVID-19 on the post-pandemic behaviour: The role of mortality threats and religiosity

This study explores the influence of intra-pandemic perceptions on travellers' post-pandemic hotel booking behaviour among crisis-resistant travellers and crisis-sensitive groups. It also examines the moderating role of mortality threats and religiosity on these behaviours. We collected quantitative data utilising survey method via questionnaires to address various levels of the research. We used PLS-SEM to evaluate our proposed model. We collected data from 1580 who had booked hotels in Egypt. Our study indicated that intra-pandemic perception has a stronger effect on travellers’ post-pandemic hotel booking behaviours if the travellers are less religious and feel deeply threatened by the idea of their own level of mortality. Moreover, it revealed that intra-pandemic perceptions had a stronger association with post-pandemic planned behaviour for travellers who chose to cancel their hotel booking plans. Our study also indicated that emergency public information plays a critical role in influencing post-pandemic planned behaviour. Our study offers effective strategies to aid hospitality and tourism practitioners when risky and threating situations such as COVID-19 arise, specifically in the period of response and recovery.     

Beliefs about social responsibility at work: comparisons between managers and non‐managers over time and cross‐nationally

We examine the link between the growing emphasis on corporate social responsibility at the organizational level and beliefs about social responsibility at work (SRW) expressed by individuals. Drawing from theories of professionalism and diffusion of innovations (including practices and beliefs), we advance hypotheses about beliefs of managers and non‐managers in 11 countries at two time periods, and use a unique international data set to test our hypotheses. Our general prediction that managers would score higher than non‐managers on a measure of SRW was not supported. However, further analysis revealed a more complex relationship moderated by the contextual factors of time frame and country inequality level. We discuss implications and extensions for future research.     

Learning to perform? A comparison of learning practices and organizational performance in profit‐ and non‐profit‐making sectors in the UK

To date, much of the research on employee development activities and organizational performance has been conducted in private sector organizations, with the largely untested assumption that the same findings will apply to other sectors. This paper addresses the deficit by describing a study comparing differences in the use of employee learning practices between profit‐making and non‐profit‐making organizations, and examining the relationship between these learning practices and multiple dimensions of organizational performance. The study data was gathered through conducting structured telephone interviews with senior training and development managers in 368 UK organizations from a range of sectors. It was found that non‐profit‐making organizations had greater engagement in individual employee learning practices than profit‐making organizations, but no differences were found in terms of team learning practices or engagement in strategic needs analysis and evaluation activities. The analyses also indicated that individual learning practices showed a stronger relationship with performance in the non‐profit‐making organizations, whereas team learning practices were more significant for the profit‐making companies. The learning practices collectively accounted for greater variance in organizational performance in the non‐profit‐making organizations. The study implies that the functional aims of organizations need to be taken into account when examining the learning practice–organizational performance relationship.     

Economic Implications of WTO Negotiations on Non‐agricultural Market Access

The economic implications of current WTO negotiations are likely to be far reaching. The World Bank and UNCTAD estimate annual global gains in agriculture and non‐agricultural products (including fish) of about $70−150 billion each under various scenarios and technical assumptions. Liberalising trade in services could be even more important, especially if agreement were reached to facilitate the temporary movement of labour (Mode 4 under the General Agreement on Trade in Services, GATS). Some qualifications, however, are in order. First, gains are likely to be spread unevenly across countries and across sectors; and, second, short‐term adjustment costs might precede long‐term gains. Much depends on how ambitious liberalisation is and on policies to facilitate adjustment. This paper examines the Doha mandate in non‐agricultural market access (NAMA) and the current state of the WTO negotiations, in particular some key proposals being considered at the December 2005 Ministerial Meeting in Hong Kong. We analyse various scenarios and their implications for trade, welfare, output, employment, revenues and preferences, as well as the distributional effects across countries and sectors. We note possible adjustment problems related to balance of payments and structural adjustment, as well as revenue and preference losses. These suggest the need for ‘aid for trade’ to help developing countries realise gains possible from WTO negotiations.     

Long‐period Positions in Multi‐sectoral Cobb–Douglas Economies

The present paper considers a constant returns to scale non‐joint production economy with one primary factor (labour). It follows from the non‐substitution theorem that macroeconomic variables are completely determined by the wage–profit distribution in a long‐period position. We investigate the special case in which production in each sector as well as consumption are characterized by means of Cobb–Douglas functions. Despite the non‐linearity, this parametrization allows us to compute sectoral and macroeconomic variables in simple and intuitive equations. As noted in earlier literature, many variables behave differently than would be expected on basis of a one‐sectoral Solow growth model.     

Linear and Non‐Linear Granger Causality Between Short‐Term and Long‐Term Interest Rates: A Rolling Window Strategy

In this article, a rolling window strategy is used to detect the linear and non‐linear Granger causality relationships between the U.S. federal funds rate and the 10‐year government bond rate, during different time horizons, investigating whether these causalities change with the passing of time. For linear Granger causality tests, we apply the Toda and Yamamoto ( 1995 ) approach and for non‐linear ones we use a non‐linear Granger causality test introduced by Diks and Panchenko ( 2006 ). Our findings show that during nearly all time periods there is a significant two‐way Granger causality relationship between these two interest rates.