Financial Disclosure and Customer Satisfaction: Do Companies Talking the Talk Actually Walk the Walk?

Previous research demonstrates that consumers support firms’ CSR activities, and increasingly demand socially responsible products and services. However, an implicit assumption in the extant literature is that the purchaser and the consumer of the product are the same person. The current research focuses on a unique form of socially responsible consumption behavior: gift-giving. Through 30 depth consumer interviews, we develop a typology of consumers based on whether consumers integrate CSR-related information into purchases, and whether the purchases are for themselves or for others (i.e., gifts). We find that in some instances, consumers actively avoid purchasing products from socially responsible organizations and do so with the intention of managing their impressions with the gift recipient. This is counter to previous research that suggests consumers often choose to make socially responsible consumption decisions in efforts to satisfy self-presentation concerns. In addition, the decision to engage in socially responsible consumption for oneself but not for others was motivated by a variety of factors including the role of the recipient and a concern over the credibility of socially responsible gifts. Finally, some participants who do not incorporate CSR into their own personal consumption chose gifts based on a variety of CSR activities in an effort to build awareness for socially responsible organizations.     

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 Retailers Benefit from Deploying Customer Analytics?

Prior research has documented a general positive relationship between the deployment of customer analytics and firm performance. In this research we focus on the retailing industry, an industry characterized by tight margins that lead to careful scrutiny of all business investments. Using survey data from 418 top managers based in the Americas, Europe Middle East and Africa (EMEA) and Asia, we show that of the eight industries in the study, firms in the retail industry have the most to gain from deploying customer analytics. However, we also find that not only do many retailers not perceive this potential gain, they do not invest in customer analytics at an economically appropriate level. Thus we identify a gap between perception and reality concerning the potential for customer analytics in the retail industry that has both theoretical and practical implications.     

Does Corporate Social Responsibility Influence Customer Loyalty in the Taiwan Insurance Sector? The role of Corporate Image and Customer Satisfaction

This study aims to investigate the impact of corporate social responsibility on customer loyalty, and examines the role of corporate image and customer satisfaction. The empirical results indicate a positive effect of economic and legal corporate social responsibility on customer loyalty, as well as a partial mediating effect of customer satisfaction between corporate social responsibility and customer loyalty. Moreover, this study identifies the moderating effect of corporate image between corporate social responsibility and customer loyalty. The results of this study are useful to the life insurance sector for enhancing their customer loyalty and service marketing strategy.     

Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity

The empirical relationship between a firm’s social performance and its financial performance is still not well established in the literature. Despite more than 30 years of research and more than 100 empirical studies on the issue, the results are still mixed. We argue that the heterogeneous results found in previous studies are not due exclusively to problems related with the measurement instruments or the samples used. Instead, we posit that a more fundamental problem related with the endogeneity of social strategic decisions could be driving most of the empirical findings. We show that, using a panel data of 658 firms from 1991 to 2005, how some of the results found in previous research change, and some are even reversed when endogeneity is properly taken into account.     

Do Certified Mail Third-Wave Follow-ups Really Boost Response Rates and Quality?

The Total Design Method (TDM) of designing and implementing mail surveys has been shown to achieve high response rates. One key step in the TDM is sending a third-wave of surveys by certified mail. However, little research exists to verify the effectiveness of this step in improving response rates and quality relative to its increased expense, although this is the 50th anniversary of certified mail in the U.S. Perhaps as a result, scholars rarely use certified mail third-waves or omit third-wave mailings altogether. This article presents the results of two experiments that we embedded in two large-scale organizational mail surveys. Both studies reveal that sending a third-wave of questionnaires significantly increases the rate of response over the first two waves of mailings. Also, the results of Study 1 show that sending a certified mail third-wave has no appreciable effect on response quality. Study 2 shows that a certified mail third-wave does not significantly increase response rate or quality compared to sending the third-wave by regular, 1st-class mail.     

Do Suppliers Applaud Corporate Social Performance?

The influence of corporate social performance (CSP) on stakeholders is one of the focal issues in corporate social responsibility (CSR) research. Using data of listed companies in China, this paper examines whether CSR behavior in the form of charitable donations garners a positive reaction from suppliers. Results derived from both level and change model regressions show that superior CSP makes it easier for a firm to obtain trade credit from suppliers, although the effect is significant only in non-state-owned enterprises (non-SOEs). The results are robust to various measures of CSP and endogeneity tests. The results support the strategic philanthropy view and apply stakeholder theory in supply chain, that strategic CSR can help firms to attract suppliers and consolidate cooperative relationships with them, which in turn benefits the firms in terms of more trade credit financing from suppliers. This paper also shows that state-owned enterprises and non-SOEs have different CSR intentions and use CSR to achieve strategic goals in different ways. The conclusions drawn from this study provide practical guidance on CSR strategy, suggesting that CSR activities can help a firm in transition economies to enhance its corporate image, establish and consolidate the good relationship with suppliers, and obtain economic benefits or achieve long-term business objectives.     

Moral Values Fit: Do Applicants Really Care?

This article tests whether applicant-company moralvalues-fit has a significant effect on applicantdecisions to apply for work with the company. Theauthor surveys a large sample of business schoolgraduate students regarding their moral values. Company values are measured using content analysis ofrecruitment materials. Application decisions areactual decisions by the students to interview duringthe school's recruitment period. The results suggestthat the values of the companies and the fit of thosevalues with those of the students are both importantto students decisions to apply.     

Do Eco‐friendly VMD and Store Reputation Increase Satisfaction of Retail Customers?

This study builds on previous research to investigate the effect of the benefits of eco‐friendly VMD (visual merchandising) on satisfaction as well as the effect of satisfaction on store attitude. This also testifies the moderating effects how the benefits of eco‐friendly VMD affect customer satisfaction by store reputation. A total of 363 responses were used to examine the process through which core benefits and relational benefits of retailers with eco‐friendly VMD affect psychological satisfaction and social satisfaction. This is a unique study offering empirical evidence that psychological and social satisfactions are the mechanisms through which benefits of eco‐friendly VMD lead to store attitude. Results indicate that information benefit and psychological benefit result in positive psychological satisfaction and social satisfaction, which in turn leads to positive store attitude in retail customers.     

Do We Fully Understand the Critical Success Factors of Customer Satisfaction with Industrial Goods? - Extending Festge and Schwaiger’s Model to Account for Unobserved Heterogeneity

This paper extends Festge and Schwaiger’s (2007) model of customer satisfaction with industrial goods by accounting for unobserved heterogeneity. The application of a novel response-based segmentation approach in partial least squares path modeling (PLS-PM) - the finite mixture partial least squares (FIMIX-PLS) methodology - opens the way for the effective identification of distinctive customer segments. In comparison to previous studies in this field, group-specific path model estimates reveal each customer segment’s particular characteristics as well as other differentiated findings. Hence, this contribution demonstrates that structural equation modeling studies on the aggregate data level can be seriously misleading and makes a strong case for segment-specific customer satisfaction analyses.     

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.     

Do Corporate Social Performance Targets in Executive Compensation Contribute to Corporate Social Performance?

To deal with potential conflicts between the triple-bottom-line expectations of investors and the performance of executives, firms can use incentives by integrating corporate social performance (CSP) targets into executive compensation. No evidence yet exists that CSP targets in executive compensation actually lead to an improvement of CSP results. Using a panel data set of 400 firms for the years 2008–2012 leading to 1846 firm-year observations, the relationships between CSP targets and CSP results and CSP improvements are analyzed. The results show that (a) the level of CSP has no effect on the use of CSP targets, (b) the use of CSP targets in general does not automatically lead to better CSP results, and (c) the use of quantitative, hard CSP targets is an effective way to improve CSP results, especially to lower CSP weaknesses.     

Do We Really Need a European Agency for Market Regulation?

In November 2007, the European Commission suggested that an EC regulatory agency should be set up for the telecommunications markets. The following paper examines the key tasks and structure of the proposed agency and identifies the limits to the delegation of powers involved by reflecting on the relevant case law and the existing doctrine. It compares the concept with a recently published rapporteur report to the European Parliament and an alternative model of a joint body of national regulatory authorities. The authors wish to thank Martin Busch, Student of Law and Politics at the University of Bonn, for his valuable assistance.     

Size, value and liquidity. Do They Really Matter on an Emerging Stock Market?

The paper extends the evidence on factors determining stock prices on emerging markets by focusing on the most advanced stock market in Central and Eastern Europe, the Polish market. Besides market, size and value factors, we investigate whether liquidity is a priced risk factor, addressing the hypothesis of its particular relevance in emerging markets. Our results support existing evidence for developed markets regarding market, size, and value factors. Contrary to the expectation that liquidity is a priced factor on emerging markets, we do not find evidence supporting this hypothesis. Analyzing specific market characteristics, we consider possible explanations behind these findings.     

Do Vendor Cues Influence Purchase Intention of Online Shoppers? An Empirical Study Using S-O-R Framework

The purpose of the current research is to understand the influence of vendor cues like brand reputation. Brand familiarity and offline presence on trust and attitude of online shoppers and consequently on online purchase intention. Data was collected through a web based survey. The findings of the study reported that vendor offline cues have a strong and positive impact on the online purchase intentions of the shoppers. Further, this study also contributed by proving that the trust has a strong relationship with purchase intention as compare to attitude.     

Do Countries Matter More in Determining the Relationship Between Employee Welfare and Financial Performance?

Extant literature suggests that employee‐friendly practices influence corporate decision‐making. Using a bargaining framework, we examine the role of country‐level determinants in influencing employee‐friendly practices and their impact on value creation. Utilizing a comprehensive sample of 25,483 firm‐year observations from 56 countries, we find that firms domiciled in countries with weak employment protection and regulations can potentially benefit by voluntarily undertaking employee‐friendly practices. Also, in countries with flexible labor market conditions, firm value is enhanced by undertaking employee‐friendly practices. Furthermore, the importance of employee‐friendly practices in value creation is observed strongly in countries that provide better infrastructure, productivity, and incentives.     

Do Auditors Applaud Corporate Environmental Performance? Evidence from China

This paper examines the relationship between turnover among chief executive officers (CEOs) and corporate sustainability performance (CSP) by identifying the influence of two major types of succession to the top job (internal or external promotion) and the reasons for change. Our model also integrates the firm’s past prioritization of CSP and the impact of a company’s participation in the Global Reporting Initiative (GRI). Upper echelons theory and agency theory frameworks are adopted to understand CSP. Using an analysis of panel data for 88 public companies across 13 years in France, we find that a change of chief executive has a positive and significant effect on CSP 5 years after the change. This positive effect is stronger when the new CEO is recruited from outside the firm. The impact on CSP is invariably positive and significant, except for voluntary departures. The arrival of a new CEO affects CSP less when the firm has already achieved a high standard of CSP and participates in the GRI. These results are obtained after controlling CSP determinants already validated in the literature (financial performance, size, profitability, etc.). The findings show that expectations of CEOs are not solely economic and financial but also concern CSP. In terms of governance, they should prompt shareholders looking to strengthen CSP to choose new CEOs from outside the firm and to encourage the firm to participate in the GRI.     

Drown or Blossom? The Impact of Perceived Chronic Time Pressure on Retail Salespeople's Performance and Customer–Salesperson Relationships

For retail salespeople chronic time pressure, a perpetual perception of being rushed for time, is a prevalent and pervasive phenomenon in their daily sales jobs. Despite this practical relevance, consequences of perceived chronic time pressure on retail salespeople's selling behaviors, such as adaptive selling, and selling performance are not well understood. Thus, the authors investigate the effect of retail salespeople's perceived chronic time pressure in interactions with customers and its impact on retail salespeople's adaptive selling behavior, customers’ purchase outcomes, as well as salespeople's overall objective performance. Analysis of dyadic data from 291 salesperson–customer interactions from a large B2C furniture retailer revealed an inverse U-shaped curve for the relationship between retail salespeople's perceived chronic time pressure and their adaptive selling behavior. The chronic time pressure–selling outcome relationship strongly depends on the contingencies of retail salespeople's goal orientations and perceived organizational support and has implications for retail research and practice.