Decision making in personal selling: Testing the “K.I.S.S. principle”

The KISS principle (keep it simple, stupid) is often cited as an effective strategy in selling. The premise is that salespeople are more effective when they stick to basics and do not unnecessarily complicate that which is not necessarily complicated. This study tests the KISS principle in the context of salesperson decision making in the prospecting stage of the selling process. Two general research questions are addressed (1) does a simple versus more complex process affect outcomes of decisions made by salespeople, and (2) if so, whom does it affect? The results suggest that process does influence outcome and that lower‐performing salespeople's decisions are most likely to be affected by the decision process used. Higher performers seem to be able to focus on key characteristics of sales prospects regardless of the complexity of the decision task, suggesting that higher performers, at least implicitly, know when to keep it simple. © 1999 John Wiley & Sons, Inc.     

The impact of planned vs. unplanned purchases on subsequent purchase decision making in sequential buying situations

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Loosening the belt: on the effects of goal‐conflict situations on regular savings

This paper examines the effect of implementation intentions on consumers' success in pursuing conflicting saving–spending goals. Surveys of participants in a community‐based savings programme were conducted to test whether the forming of implementation intentions in specific action plans facilitate the pursuit of the focal savings goal. The intervention had no effect in facilitating the savings goal, suggesting that goal conflict undermines goal commitment above and beyond the influence of commitment mechanisms. Inquiring into the reasons for not saving within the implementation intention group, we found that conflict with spending goals emerged as a partial mediator explaining subjects' failure to enact their savings intentions. Implications for community‐based savings programmes are also discussed.     

Impact of host‐country corruption on U.S. and Chinese cross‐border acquisitions

Does corruption in a target country create a similar effect on cross‐border acquisitions (CBAs) by firms from a developed and a developing country? This article empirically examines the relationship between corruption and CBAs by firms from China and the United States. Based on a combined sample of 10,236 completed acquisitions over the period of 1990–2006, the authors find that both Chinese and U.S. firms make a significantly greater number of acquisitions in less corrupt countries. However, unlike the U.S. CBAs, we find a significantly positive relationship between the transaction value of Chinese CBAs and the level of perceived corruption in the target country. It is suggested that having been schooled in weaker institutions themselves, Chinese firms may find it easier to deal with corrupt conditions in target countries, giving them an advantage over firms from less corrupt countries. © 2010 Wiley Periodicals, Inc.     

Ethical decision‐making in Islamic financial institutions in light of Maqasid Al‐Sharia: A conceptual framework

This article develops a conceptual framework for ethical decision‐making in Islamic financial institution based on the Islamic methodological approaches on ethics. While making use of the similarities between the scientific method and the Islamic jurisprudence method, a framework is developed by means of argumentation and reasoning to integrate Sharia doctrines with the “plan, do, check and act” (PDCA) cycle as a managerial tool. Using Al‐Raysuni's analysis of Al‐Shatibi's work on maqasid al‐sharia, this article develops a framework to assess the ethical aspects of Islamic financial operations, which is then applied to hypothetical cases. This approach can help overcome the methodological deficiencies in measuring ethical performance in Islamic finance by focusing on the process of ethical decision‐making that leads to the outcomes of organizational behavior beyond legality of contracts. The framework outlines the conditions under which an activity that is considered legal and permissible contractually could lead to outcomes that can make it ethical or unethical.     

Combined influence of selective focus and decision involvement on attitude–behavior consistency in a context of memory‐based decision making

Marketers often use salient stimuli to draw consumers' attention to a specific brand in the hope that a selective focus on the brand increases the sales of this brand. However, previous studies are inconsistent concerning the impact that selectively focusing on a specific brand has on final brand choice. To offer an explanation for these inconsistent results, this paper introduces decision involvement as a moderator of the relation between selective focus and attitude–decision consistency. Two studies indicate that selectively focusing on a not preferred alternative indeed alters choice decisions, but only when decision involvement is low. Study 1 further shows that this interaction effect between selective focus and involvement takes place in the selection rather than the brand consideration stage. By introducing level of processing along with decision involvement, Study 2 shows that the interaction effect emerges even in limited processing conditions. The study also reconciles different explanations for the negative effect of selective focus on attitude–behavior consistency. Selectively focusing on a not preferred choice option when consumers are low involved and use limited processing seems to lead to inconsistent choices because of an increased accessibility of the focal option, whereas selective focus on a not preferred option when consumers are low involved and use deep processing lead to inconsistent choices because of attitude polarization. © 2011 Wiley Periodicals, Inc.     

The influence of media,positive perception,and identification on survey‐based measures of corruption

This study examines the influence of some suspected sources of bias on perceptions of public sector corruption. These sources include dependence on two types of media as information sources about corruption: traditional and social media, positive perception of public employees, and social identification with public employees. Data were collected through a face‐to‐face survey of the general public in South Korea. The sample comprised 472 respondents evenly dispersed across the country. Through regression analysis, we found that dependence on traditional media—but not social media—significantly increased the perceived level of corruption. However, positive perceptions of and social identification with public employees were negatively associated with it, showing that these factors may skew respondents' perceptions of corruption. The results have implications for practitioners and researchers who design, implement, or evaluate anti‐corruption policies, suggesting the need for caution when making use of survey results.     

The impact of consumer decision‐making styles on consumer confusion in Mauritius: An empirical analysis

This article investigates the effects of consumer decision‐making styles on consumer confusion and harm. While consumer confusion has been well documented in the literature, this investigation attempts to bridge our understanding on its relationship with consumer decision‐making styles. Empirical data was collected from a field survey where 400 consumers selected at 20 supermarkets in Mauritius were asked to respond to a questionnaire measuring three variables under study: consumer confusion, consumer decision‐making styles, and situational factors. Findings from the MANOVA parametric test showed that there is a significant difference between consumer decision‐making styles and consumer confusion. Even when covariate situational factors were controlled through the parametric test MANCOVA, results still showed a significant difference between consumer decision‐making styles and consumer confusion. More specifically, ANCOVA tests showed that the findings were specifically significant for three types of confusion: product confusion, packaging confusion, and product complexity. The study tends to confirm that a consumer's style of decision making does impact on consumer confusion.     

An assessment of ethical obligation and self‐identity in ethical consumer decision‐making: a structural equation modelling approach

Research has supported the addition of ethical obligation and self‐identity to models of consumer decision‐making in ‘ethical’ contexts. The particular placement of ethical obligation and self‐identity within a model of ethical consumer decision‐making remains unclear. Are these measures an antecedent to attitude or behavioural intention? This paper presents findings from a large scale survey of ethical consumers that explores, through structural equation modelling, the specific placement of these measures within a validated model of ethical consumer decision‐making, which uses the theory of planned behaviour as an initial framework. This research is examined within the ‘ethical’ context of fair trade grocery purchasing. (Fairly traded products are those purchased under equitable trading agreements, involving co‐operative rather than competitive trading principles, ensuring a fair price and fair working conditions for the producers and suppliers.)     

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.     

Class alliances and conflict: An explanation of political transitions in 19th‐century Europe

I develop a model analyzing common interests and conflict among four classes—capitalists, workers, landlords, and peasants in 19th‐century Europe—and show that strong class position, based on a high degree of organization and solidarity, may actually be detrimental to the economic and political advantage of that class. This occurs when a strong class is excluded from a major class coalition via coalition formation processes. The reason is that the weak class, if they enjoy bargaining power over even weaker classes within a coalition, may not want to form a coalition with the strong class. I apply the main results to coalition formation and political transitions in 19th‐century European society.     

Early‐Stage of Innovations: Selection System Criteria for Funding U.S. Biotech SMEs

The focus of this paper is small and medium‐sized enterprises (SMEs) operating in the U.S. biotechnology industry and how they compete for financial resources during the early stages of innovation development. We utilize selection system theory, which describes how selectors use reputation‐based information about selectees as decision factors when making investments. Our findings suggest that there are different predictive variables for SME categories and the types of investors attracted to these categories, which is consistent with selection system theory. We extend prior studies by providing context to early‐stage innovation investment funding within an environment characterized as having a long development cycle and representing high uncertainty.     

Time is money: An empirical investigation of delivery behavior in the U.S. T‐Bond futures market

This paper analyzes the delivery behavior observed in the CBOT T‐Bond futures market over the period spanning 1985–2016 in order to assess how timing decisions were made, and whether these decisions were optimal. During that period, delivery was generally deferred to the last possible moment, but early delivery episodes were also observed regularly. A regression model identifying the determinants of early exercise over the last three decades is proposed, along with a case‐by‐case analysis of specific delivery patterns. Finally, the optimality of the observed delivery strategies is assessed a posteriori.     

Becoming a Global SME: Determinants of SMEs' Decision to Use E‐Intermediaries in Export Marketing

Technological advances have made it feasible for small and medium‐sized enterprises (SMEs) to become active in global markets through information technology (IT)‐mediated electronic intermediaries (e‐intermediaries) instead of relying only on traditional export channels. E‐intermediaries may offer SMEs a level playing field for competing with their larger competitors. Based on transaction cost economics (TCE), this study develops a model that can address the question of which transaction costs and characteristics are closely related to e‐intermediary use by SMEs. In addition to providing a better understanding of e‐intermediaries, the study explores the relationships between e‐intermediary use, transaction costs, and transaction characteristics in the context of Korean SMEs. © 2013 Wiley Periodicals, Inc.     

Information transmission in electronic versus open‐outcry trading systems: An analysis of U.S. equity index futures markets

In this article the intraday price discovery process between regular index futures (floor trading) and E‐mini index futures (electronic trading) in the S&P 500 and Nasdaq 100 index futures markets is examined, using intraday data from the introduction of the E‐mini index futures to 2001. Using both information shares (Hasbrouck, J., 1995) and common long‐memory factor weights (Gonzalo, J., & Granger, C. W. J., 1995) techniques, we find that both E‐mini index futures and regular index futures contribute to the price discovery process. However, since September 1998, the contribution made by E‐mini index futures has been greater than that provided by regular index futures. Based on regression analysis, we have also found direct empirical evidence to support the hypothesis that the joint effects of operational efficiency and relative liquidity determine the greater contribution made towards price discovery by electronic trading relative to open‐outcry trading over time. © 2005 Wiley Periodicals, Inc. Jrl Fut Mark 25: 679–715, 2005     

Effects of justice and utilitarianism on ethical decision making: a cross‐cultural examination of gender similarities and differences

This study investigates the relationship between intention to behave ethically and gender within the context of national culture. Using Reidenbach and Robin's measures of the ethical dimensions of justice and utilitarianism in a sample of business students from three different countries, we found that gender is significantly related to the respondents' intention to behave ethically. Women relied on both justice as well as utilitarianism when making moral decisions. By contrast, men relied only on justice, and did not rely on utilitarianism when faced with the same ethical issues. Further, women's intention to behave was contextual, significantly affected by two national culture dimensions (uncertainty avoidance and individualism), whereas men's decisions were more universal, and not related to national culture dimensions.