When a celebrity endorser is disgraced: A twenty-five-year event study

This paper investigates how the announcement of negative information about a celebrity endorser impacts firm value, as measured by abnormal stock returns. The unique data sample consists of 93 celebrity disgraces that occurred between 1986 and 2011, affecting firms listed on US stock exchanges. Some evidence is documented of negative and statistically significant abnormal returns around these events. Returns are lower when the disgrace attracts much media attention, or when the celebrity itself is prominent. No significant returns are observed when a firm decides to terminate its endorsement contract with the disgraced celebrity. Endorsement contracts for “edgy” products, for which consumers may actually be attracted by negative publicity, are less likely to be terminated.     

Brand trait transference: When celebrity endorsers acquire brand personality traits

Using celebrity endorsers can be an effective way to influence brand perceptions and elevate the brand. However, although there is a significant amount of research investigating how endorsers influence brand perceptions, there is little research showing whether traits associated with the brand influence perceptions of the endorser. This article addresses this under-researched area and provides evidence for brand trait transference. Brand trait transference occurs when a trait transfers from a brand to people associated with that brand. Three studies demonstrate brand trait transference and identify a boundary condition for this novel effect. The article discusses the implications of these findings for effective marketing communications as well as the theoretical implications for the growing research on branding, association transfer, and endorsers.     

数字时代，白酒行业如何驱动增长

2019年10月,由中国酒业协会指导,腾讯广告主办,以掘金数字时代为主题的中国酒业数字化创新论坛在上海举办。会上,腾讯广告发布《2019白酒行业数字化发展洞察报告》,并推出腾讯白酒行业数字化营销解决方案,从趋势分析到数字化能力,全方位助力酒企生意新增长。一众嘉宾也发表了对行业前景的见解。现撷取部分演讲内容与读者分享。     

Revisiting media selection in the digital era: adoption and usage

This study presents an empirical analysis of the usage of limited media resources, gratification of user expectations, complementarity between different types of media, and the competitive relationship of media, based on new media in China, specifically Wechat, Weibo, and Renren. In this study, previously un-researched areas of the difference between old and new media as well as competition among the new media are analyzed so as to suggest strategies for increasing the market share. The results showed that (1) Wechat, a service which has converged the positive attributes of old and new media, provided a high level of user gratification by meeting user’s diverse requirements, while Weibo beat other social media regarding information seeking because its network structure has advantage on extensive information acquisition. On the other hand, Renren was less competitive than Wechat and Weibo, but it still had its place as an information seeking media because of the plentiful amount of information such as pictures and videos. (2) There was keen competition among the media that provided high levels of user gratification. (3) Old media were competitively superior in media richness, equivocality reduction, and the social relationship, while new media were competitively superior in information seeking and remediation of media. The conclusions suggest that, for social network service/site-based new media to obtain the advantage in the media market, they need to provide users more diverse communication functions and a platform for more meaningful communications.     

寻找广告费的那一半——降低广告风险，保证广告效果——重庆电视台广告风险管理机制

编前：目前,广告主考核电视媒介投放效果主要指标包括总收视点、传播广度、有效到达频次、广告千人成本等．其中收视率是左右企业广告投放的关键。但业界也逐步意识到。对于电视节目的广告创收而言收视率不是万能的。     

Good ethics is good for business: Ethical attributions and response to environmental advertising

Researchers have used attribution theory as a basis for exploring the relationship between consumers' inferences of advertiser motivation (attributions) and advertising response. This study postulated the existence of two new types of attributions which relate to the perceived ethics of the advertiser (advertiser ethical attributions) and the advertising message (message ethical attributions). Research conducted among a nationally representative sample of 273 adults: (1) verified the existence of both advertiser and message ethical attributions, (2) demonstrated the independence of advertiser and message ethical attributions both from each other and from other measures of advertiser and message evaluation, (3) identified the specific advertising characteristics which lead to the formation of each type of ethical attribution and (4) demonstrated a significant relationship between advertiser and message ethical attributions and measures of advertising response.Dr. Joel J. Davis is Assistant Professor of Journalism, School of Communication, at San Diego State University. Dr. Davis' interests include environmental marketing, marketing strategy and marketing ethics. He has published in these areas in theJournal of Business Ethics, Journalism Quarterly andSAM Advanced Management Journal.     

Born internationals: Market expansion and business operation mode strategies in the digital media field

This paper examines leading Swedish and Finnish Internet consultancies operating in the digital media service field. These are ‘born international’ firms that internationalise their business at an exceptionally rapid pace. The paper focuses on why and to what extent the market expansion and business operation mode strategies of these companies deviate from the traditional pattern depicted by the Scandinavian process school. The empirical data consisted of interviews with the founder and senior management and secondary data from company and public archives. The research findings show that in fact both the international new venture research and the Scandinavian internationalisation model appear to be valid. The former model was evidenced by the fact that the born internationals indeed deviated from the behaviour of the traditional firms. The latter was exemplified by the fact that the final internationalisation profile, after the withdrawals of firms from unsuccessful markets, was close to what the Scandinavian internationalisation model would call ‘rational’ expansion. Hence, if the investigation period is long enough to account for unsuccessful endeavours and withdrawals, we may then find empirical support for the traditional model as well. To be reliable, the investigation period should cover at least one economic slow down.     

Correction to: From the Editor

Business Economics -     

从跑马圈地的广域覆盖到定位明确的有效覆盖——卫视频道经营策略的新研究

<正>目前多数省级卫视都已经达到一定程度的全国性覆盖,但是在这一过程中也遇到了很多大的问题,如覆盖成本越来越高而难以承受;所覆盖的某些城市只有很低的收视率而没有广告的回报,从而在总体上无法达到收支平衡;许多广告公司,尤其是大的4A公司并不按照待评估卫视的覆盖效果,而是按照收视效果来决定投放。     

Lijiang： From Brand to Strength

The tourism industry is facing unprecedented challenges after the financial crisis. During this ＂financial winter＂, how much influence has Lijiang＇s tourism, the one that has been the pillar industry of Lijiang and important economic growth point received？ And how does the government of Lijiang deal with this？ How to transform it from ＂Brand Lijiang＂ to ＂Strength Lijiang＂？ Member of National People＇s Congress, Lijiang＇s deputy secretary of municipal party committee, and Mayor Wang Junzheng accepted an exclusive interview with our reporter.     

Entrepreneurship: From motivation to start-up

The goal of this article is to reveal the origins of entrepreneurial motivation and to identify the logics of action (entrepreneurial projects) associated with each dimension of this attitude. The study looks to answer the following questions: What needs are at the beginning of a business, what are their intensities, and to what extent does entrepreneurial motivation influence projects? Using questionnaires answered by entrepreneurs who have just created their business, we evaluate the characteristics of entrepreneurial motivation (needs and their intensities), identify the antecedents liked to this attitude, and isolate the entrepreneur logics of action (imitation, innovation–adventure, reproduction, and innovation–valorisation). This study is supported by a theoretical framework that is the result of research on motivation and entrepreneurship. A series of causal relations are isolated and then tested. Analysis enables an ensemble of conclusions to be drawn on entrepreneurial motivation. Pathways of motivation lead to logics of action linked to innovative projects and explain the phenomenon of reproduction (or imitation) found in some entrepreneurs. Development objectives and a need for personal independence are identified at the beginning stages of entrepreneurial planning. Creators hope that their business will bring tangible financial and material results. Entrepreneurs are conscious that they must make a commitment across a range of dimensions for their organisation (managerial, commercial, etc.). In their quest for valorisation, entrepreneurs take risks, exploiting advantageous business contexts, thanks to their competences, and show a need for creativity. These two dimensions (competences and creativity) are associated with the objective of independence. The logic of reproduction is characterised by self-confidence (locus of control) and responds to the objective of business development.     

新媒体：从自我认知到营销突围

眼下,沸沸扬扬的美国次贷危机不仅让实业界厉兵秣马,以应对不测,传媒界也受到渡及。有专家预言说包括网络在内的新媒体,都将不可避免地被卷入这场风暴。     

企业社会责任人才：从怎么看到怎么办——企业社会责任学科建设与人才培养研讨会召开

“做企业社会责任的人不仅要懂企业、懂企业社会责任,还要拥有更多来自NGO组织和政府组织的经验和理念,并能够将这些糅合起来。”     

Capital Power： From Input to Output

After thirty yeas ＂going out＂ of China overseas investment, we learn from our failed lessons and also successful experience. Chinese enterprises are now standing at a new starting point of ＂going out＂. China is transforming from .＂capital input power＂ to ＂capital output power＂. With the approval of the National Development and Reform Commission of ER.C., the first China Overseas Investment Fair hosted by China Industrial Overseas Development ＆ Planning Association was convened on November 3rd-4th in China World Trade Center, Beijing. With forceful and orderly preparation since the beginning of 2009, ＂COI Fair＂ aims at providing professional service for Chinese enterprises overseas investment, in forms of both exhibitions and forums.     

Internationalization: From incremental to born global

In this paper, we summarize how internationalization research has evolved over time, where it stands today, and how it might evolve going forward. Specifically, we examine internationalization research from earlier times to the present day. We contrast the incremental internationalization characteristic of older multinational enterprises with the early, rapid internationalization of born global firms. The paper summarizes the evolution of research on early internationalization and born global firms, and provides evidence to suggest why this area now has attained legitimacy in scholarly research. We then examine important theoretical issues in born global research and suggest avenues for future research.     

From governance to Governance: On Blurring Boundaries

The lack of consensus in stating what Corporate Social Responsibility (CSR) exactly means has led some people to argue that the concept is too vague to offer guidance, while others suggest forgetting about theorising and instead focusing entirely on the development of practical applications such as codes of conduct, standards and reporting initiatives. This article argues that the discussion on CSR as a whole has reached this impasse because it ignores two major underlying problems. First, the fact that CSR is an ideological notion: the definition and use of ‘CSR’ depends on the moral and practical views of the people and organisations involved. Secondly, the debate on CSR lacks a thorough discussion about the nature and role of the firm, the main actor when it comes to accepting and implementing CSR. After explaining our standpoint, this article winds up with the implications of this reframing for the CSR debate, for the efforts to define it and for the efforts to apply it.