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1.
ABSTRACT This article investigates the presence of herd behavior in Latin American stock markets using the methodologies proposed by Christie and Huang (1995) and Chang, Cheng, and Khorana (2000). Daily closing prices and trading volumes from January 3, 2000 to September 15, 2010 from the stock markets of Argentina, Brazil, Chile, Mexico, and the United States were analyzed. The US market was studied in order to provide a reference for comparison. The shares for which data was collected in each country were those listed in the most representative stock index for each market. It was not possible to establish evidence of herd behavior in any of the five countries studied using the Christie and Huang (1995) method. However, evaluating the data for the entire period using the method proposed by Chang, Cheng, and Khorana (2000) we detected herd behavior in the Chilean market. These results were not affected by the addition of additional exogenous variables representing the September 11 attacks of 2001 and the subprime crisis, or when the effect of the behavior of US shares on other countries was analyzed. Asymmetric herd behavior was detected in the Chilean, United States, Argentinean, and Mexican markets. 相似文献
2.
Ronise Suzuki de Oliveira Afonso Augusto Teixeira de Freitas de Carvalho Lima Marco Aurélio Ferreira Natália Real Pereira 《Latin American Business Review》2013,14(3):187-207
ABSTRACT Incubators are rated as public policy mechanisms driving innovation in companies. The purpose of this project was to ascertain the level of development of competences for innovation in Technology-Based Enterprise Incubators (TBEI) as perceived by businesspeople in associated companies. With regard to technological innovation, it was decided to use a neo-Schumpeterian approach, and with regard to competences, the Resource-Based View (RBV) theory was used, which evaluates internal attributes that contribute directly to the innovative capacity. Four constructs were taken into consideration for analyzing the development levels of competences for innovation, grounded on the model of François and colleagues (1999) and Munier (1999). Competences for innovation were examined through a questionnaire that tries to identify and assess development levels of competences in TBEI. The findings were analyzed through construct reliability tests: summated scales and cluster analysis. It was noted that the means competences representing the basic resources needed for the development of the company were assessed favorably by the businesspeople, indicating the development of this competence. In terms of technical and relational competences, it was noted that the businesspeople assessed these aspects unfavorably, indicating that these competences are not well developed by the TBEI. It was also ascertained that corporate development levels and operating sectors also influence the assessment of these businesspeople in terms of competences for innovation. This leads to the conclusion that its effectiveness must be assessed as an agent of innovation, with indicators being defined to measure the effectiveness of its role as a mechanism driving technological innovation. 相似文献
3.
Total online retail spending in China reached $427 billion in 2014 and is expected to surpass $1 trillion in 2018 (Chu and Wong 2015). In addition, the number of online stores in China has been rapidly increasing. The present study proposes a model based on the theoretical frameworks of technology readiness (Parasuraman et al. 2005) and e-service quality (Parasuraman and Malhotra 2005), and tested the model on consumers from China. The results indicate that consumer technology readiness positively influences the perceived efficiency, system availability, fulfillment, and privacy dimensions of e-service quality as it relates to the online retailing environment in China. Moreover, the influence of technology readiness on the intention to purchase online in the future is both direct and mediated by the dimensions of perceived e-service quality. Implications and future research suggestions are also discussed. 相似文献
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Caroline Moraes Marylyn Carrigan Isabelle Szmigin 《Journal of Marketing Management》2013,29(1-2):103-128
Abstract Despite the growing success of well-marketed environmentally friendly products, there remains a gap between consumers' positive attitudes towards green issues and products, and their inconsistent and often conflicting consumption behaviour. Indeed, this is a challenge for social marketers seeking to advance the sustainability agenda. Therefore, this study problematises what has been conceptualised as attitude–behaviour gaps (Boulstridge & Carrigan, 2000), and explores how groups of consumers have re-construed such practices and their meanings through the formation of New Consumption Communities (Szmigin, Carrigan, & Bekin, 2007). Multi-sited ethnographic findings illustrate the social processes through which ethical and green forms of consumption are established and normalised. Findings also stress the importance of normative and habitual reframing through ‘ethical spaces’ (Barnett, Clarke et al., 2005) in establishing and maintaining increased consistency in participants' consumption meanings, behaviours, and goals. Thus we re-frame attitude–behaviour gaps as coherent inconsistencies, which allows for a move away from solely trying to explain and change individual consumer behaviour, to identifying how suitable upstream and downstream (Verplanken & Wood, 2006) approaches and policies can be used to facilitate more sustainable forms of consumption. 相似文献
6.
Our objective in this article is to correct the record on the contribution of the Journal of Retailing to business-to-business (B2B) research in marketing. In particular, we refute the assertion of LaPlaca and Katrichis (2009) that the Journal of Retailing “does not regularly publish research concerning business-to-business marketing.” Our analysis of recently published (2002–2008) articles in the Journal of Retailing shows that less than 19% are devoted to B2C or C2C topics. Our comparison of the Journal of Retailing's relative emphasis on nine B2B content areas indicates parity with other marketing journals for some topics and a lesser emphasis for others. The key B2B topics of marketing strategy and channels of distribution appear relatively more frequently in the Journal of Retailing than they do in other marketing journals reviewed by LaPlaca and Katrichis (2009). Hence, any estimate of the contribution of B2B research to marketing knowledge that dismisses the impact of the Journal of Retailing contains a downward bias. 相似文献
7.
ABSTRACT In this article we use the variables proposed by Eckel (1981) and Leuz et al. (2003) as proxies to measure income smoothing and find that Brazilian companies that engage in this behavior receive better ratings in their public bond issues. Using data obtained from the National Bond Registration System and the Economatica, we evaluated public bond offerings. The results of univariate and multivariate analyses and robustness tests attest to the significance of the income smoothing factor, regardless of the rating agency. The results support the notion that income smoothing is an information-signaling mechanism and has an impact on bond ratings. 相似文献
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Despite the global increase in both fair trade sales and awareness, actual market shares of some fair trade products remain disappointing. A number of authors have suggested various reasons for this, including the complexity of the situational context affecting actual purchase behavior (Carrington, Neville, &; Whitwell, 2010), the disconnect between producers and consumers (Dickinson, 2001), and the problems associated with the depersonalization of ethics in mainstream distribution (Bezencon &; Blili, 2011). This article introduces the drawing method into the field of research on fair trade consumption. Using this method, this study explores student perceptions of both fair trade consumers and how fair trade works. In doing so, the drawing method unveiled two potential consumer types; namely, the dreamer and the angel. On this, we argue that our study reveals some of the possibilities inherent in the use of the drawing method to explore uncertainty surrounding fair trade consumption. 相似文献
9.
Richard J. Rexeisen Jamal Al‐Khatib 《Journal of Teaching in International Business》2013,24(3):192-207
Most academic programs are now held accountable for measuring student‐learning outcomes. This article reports the results of an assurance of learning (AOL) project designed to measure the impact of study abroad on the development of ethical reasoning, intercultural sensitivity, and environmental attitudes. The Association to Advance Collegiate Schools of Business International (AACSB) AOL guidelines (2007, 2008) are used to frame the overall assessment process. Hammer and Bennett's (2002) intercultural development inventory (IDI); Dunlap, Van Liere, Mertig, and Jones' (2000) new ecological paradigm; Forsyth's (1980) ethics position questionnaire (EPQ); and Richins' (1987) materialism scale are the primary measurement rubrics used in the study. Results support the proposition that study abroad does have a positive impact on the development of cross‐cultural sensitivity and environmental attitudes. Although study abroad appears to have no direct impact on moral reasoning, changes in ethical reasoning do appear to be related to intercultural development and environmental attitudes. The AOL project demonstrates how assurance of learning programs can be extended to include experiential learning outcomes and can serve as a guide for the furthering of the globalization of a business curriculum. 相似文献
10.
The global workplace requires specific knowledge, skills, and abilities on the part of workers. There is a growing body of research indicating a gap between the global industry demand for skills and the higher education system's ability to supply that demand. Leveraging the work from Yu, Guan, Yang, and Chiao (2005) and Prestwich and Ho-Kim (2007), this study investigated this gap. The sample included global leaders of Fortune 500 companies. Exploratory in nature, the primary purpose of this study was to understand the needs of global business organizations that form the hiring market for international business graduates. The findings highlight the gap between the topics being taught by educators and the skills actually needed by the target international businesses. This information is relevant to the challenges facing global businesses as well as higher education institutions and provides insights into improvements for the good of both industries and especially the students aiming for careers in global organizations. 相似文献
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In this commentary we reaffirm the position taken by LaPlaca and Katrichis (2009) that there is an underrepresentation of business marketing research in the marketing literature. Our comments highlight the sector size of business marketing in the economy, document the degree of difference on the inherent nature of business versus consumer marketing, compare the relative representation of business versus consumer emphasis in the marketing literature with other subfields, and close by suggesting means for enhancing business marketing research. 相似文献
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ABSTRACT This article's objective is to analyze the influence innovative organizational culture has on marketing strategy formulation and results, and how this relationship affects organizational performance. The theoretical basis lies in Menon et al.'s (1999) model. The methodology included a survey with medium to large Brazilian companies in different sectors. The final sample consisted of 153 questionnaires that were valid for analysis. Techniques for statistical analysis including singular and multivariate methods were used, from which the relationships between constructs were established by structural equation modeling. Results show a positive relationship between innovative organizational culture, the marketing strategy process, and organizational performance. However, innovative culture does not have a direct influence on performance. 相似文献
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This article aims to analyze the impact of investor attention in the Brazilian stock market, particularly the effect of positive pressure on asset prices verified by Barber and Odean (2008). Using the methodology of Da and colleagues (2011), we seek to assess whether investor attention, as measured by the volume of searches on Google, can explain abnormal variations in market activity and asset returns. The results indicated that the Internet search data does explain variations in turnover rate and trading volume of assets. However, unlike the results of studies conducted in other countries, the price pressure hypothesis was not observed in the Brazilian market. 相似文献
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Molly Eckman Sema Sakarya Karen Hyllegard Miguel Angel Gomez Borja Alejandro Molla Descals 《International Review of Retail, Distribution & Consumer Research》2013,23(3):260-275
Guided by the work of Samiee (1993. Journal of Business Research, 27 (2): 103–129), Sakarya, Eckman, and Hyllegard (2007. International Marketing Review, 24 (2): 208–238), and Alexander et al. (2010. International Journal of Retail & Distribution Management, 38 (3): 160–172), a cross-cultural analysis was undertaken to examine consumer receptiveness to domestic market entry by foreign apparel specialty retailers. More specifically, this study explored differences in consumers' perceptions of the influence of foreign apparel specialty retailers on social, cultural, and economic development across three countries: Spain, Turkey, and the USA. Consumer receptiveness was measured as beliefs about the social and economic influence of foreign retailers and perceptions of retailers' brand characteristics and offerings. An intercept survey of 1233 apparel shoppers was conducted in major metropolitan shopping areas in all three countries. MANOVA revealed that Spanish consumers were least concerned about urban growth associated with foreign retailers and least likely to perceive positive employment/business opportunities and socio-cultural well-being from the presence of foreign retailers. Turkish consumers held the strongest perceptions regarding the influence of foreign retailers on urban growth. Paired sample t-tests revealed that Turkish consumers, when compared with Spanish consumers, evaluated U.S. retailers' offerings more positively and were more receptive to the entry of U.S. retailers into their domestic markets. Results of regression analyses indicated that Spanish and Turkish consumers' beliefs about retail brand characteristics and the socio-cultural and economic influence of foreign retailers positively predicted consumers' receptiveness, whereas age negatively influenced receptiveness. Differences in perceptions among Spanish, Turkish, and U.S. consumers may be attributed to the varying levels of economic development among the three countries as well as to the countries' differing policies concerning foreign retailers. Findings provide a basis for the development of a measure of consumer receptiveness to international retail expansion. 相似文献
15.
Andreas Engelen Malte Brettel Florian Heinemann 《Journal of Marketing Management》2013,29(5-6):515-547
Abstract There is widespread agreement in the marketing literature that newly founded and established mature companies have different perspectives on marketing. However, there is little comparative research in this respect. Therefore, the current research compares the antecedents and effects of a market orientation (MO) – as one major construct in marketing research – across organisational life-cycle stages, thereby integrating organisational life-cycle theory into MO research. Our hypotheses are based on the information-processing model of Tushman and Nadler (1978). In order to test these hypotheses, we conduct a survey-based empirical study of 252 new high-tech ventures. Our results show that the organisational life-cycle stage does indeed exert a moderating influence on the links between MO and its antecedents, and performance consequences. The implications for the market literature are discussed in detail. A map of possible future research topics is derived. 相似文献
16.
Valter Afonso Vieira 《Journal of Relationship Marketing》2017,16(2):99-118
We tested the overchoice effect hypothesis. In the experiments, we manipulated the options in three levels and assessed their impact on the dependent variables. In study 1, we presented 11 vs. 7 vs. 5 drink options to consumers. In study 2, we presented 50 vs. 40 vs. 30 pizza menu options. In Study 3, we presented 16 vs. 12 vs. 8 gum options. The results did not show a main effect of overchoice on the dependent variable, rejecting the overchoice theory. However, the findings supported null empirical finding in the 2010 meta-analytic study by Scheibehenne, Greifeneder, and Todd. In addition, this article found support for an interactive effect of involvement with the overchoice condition. 相似文献
17.
AbstractI show that the three main contributions to the theory of the business of the last century – those of Cobb and Douglas (1928), Coase (1937), and Lucas (1978) – are actually complementary and can be fitted into a general model of the firm size choice as the solution to a problem of optimal allocation of decision making in the economy. Decisions require information, and the availability and cost of information drives the optimization of firm size by the relevant decision makers - managers and entrepreneurs - pursuing the maximization of profits. Trends in firm size, and their reversals, are shown to depend on the aggregate information/output ratio. 相似文献
18.
ABSTRACT Starting from a modified version of the Cavusgil and Zou (1994) theoretical framework, in which the level of internationalization of online Small and Medium Enterprises (SMEs) is considered as an aggregated indicator of the export marketing strategy and a measurement of export performance, this paper investigates the influence of a series of internal and external factors on the internationalization of online SMEs. It expands the empirical framework used by Luo et al. (2005) in an attempt to explain the internationalization of online SMEs by integrating both organizational and market factors, thus improving the explanatory power of internationalization models, and enhancing their applicability for professionals. 相似文献
19.
Janet L. Borgerson 《Consumption Markets & Culture》2013,16(2):155-170
Daniel Miller is Professor of Material Culture at University College London. Miller’s foundational work in consumption studies, material culture studies and the anthropology of materiality has made profound contributions to our understanding of consumption, markets and culture. He is particularly known for Material Culture and Mass Consumption (1987), A Theory of Shopping (1998) and his edited collections Unwrapping Christmas (1995), the four‐volume Consumption: Critical Concepts in the Social Sciences (2001), and Materiality (2005). He is a tremendously prolific scholar and has worked with a large number of doctoral students. His 2008 book, The Comfort of Things, has introduced Miller to a wider audience. This interview took place in London on 25 November 2008. 相似文献
20.
ABSTRACTThis article analyzes the dynamics of knowledge-capital accumulation along the different stages of the business cycle within the benchmark proposed by Crépon, Duguet, and Mairesse (1998) using a balanced panel of Uruguayan firms. Findings reveal that the intensity of innovation evolves procyclically, while the propensity of innovation and the degree of novelty embedded in innovations follow a countercyclical path. They also show that product innovations during economic recessions are only pursued by companies that are able to divert their sales to world markets; otherwise, they tend to innovate in processes. Results further suggest that productivity gains driven by knowledge-capital accumulation are magnified by systematically engaging in innovation activities. 相似文献