Entrepreneurial information search

Information is a key resource for the new venture. Despite the importance of information search practices, little research has examined whether entrepreneurs show a tendency to search for more or less information under particular conditions.This article considers whether information search might be explained by concepts of bounded rationality. Such theories lead to the counterintuitive expectation that entrepreneurs with less experience or those entering unfamiliar fields would search less because of their more limited understanding of what is needed. In addition, entrepreneurs with higher levels of initial confidence would search less because their “entrepreneurial euphoria” may limit their ability to assess their own needs for additional information.This study examined the information search practices of 1176 entrepreneurs. It considered six sources of information that were widely used: accountants, friends or relatives, other business owners, bankers, lawyers, and generally available books and manuals. Three measures of search intensity were developed, with the first reflecting the relative importance of all six sources and the remaining two focusing upon the subcategories of professional and personal sources.It was found that those who had no entrepreneurial experience, on the average, sought more, not less, information. However, as expected, those who ventured into fields which were different and those who had higher levels of initial confidence sought less information. An interaction effect provides insight into these findings and reveals that inexperienced entrepreneurs varied their search depending upon whether they were in familiar or unfamiliar domains. In particular, novice entrepreneurs searched less extensively in unfamiliar domains, a behavior consistent with bounded rationality. By contrast, experienced entrepreneurs did not vary their search pattern. It was also found that entrepreneurs having high levels of confidence sought less information, as expected.The behavioral tendencies observed here appear to have clear implications for entrepreneurs and their advisors. We might expect that those venturing into fields they do not know would have more to learn and thus would search more aggressively. However, neither inexperienced nor experienced entrepreneurs acted in this way. In fact, inexperienced entrepreneurs lessened their search as they entered fields they did not know, consistent with the bounded-rationality model. Many prior studies have found that entrepreneurs entering unfamiliar fields are, on the average, less successful (Cooper and Gimeno-Gascon 1992). This certainly raises questions about whether entrepreneurs, both experienced and inexperienced, might benefit from greater emphasis upon gathering and utilizing external information as they enter fields that are new to them. Outside advisors (if the entrepreneur will utilize them) may be helpful in urging and assisting entrepreneurs who enter unfamiliar fields to engage in more extensive information search, even though they may have less developed networks of contacts and less of a feeling for what is needed in such fields. With respect to initial confidence, entrepreneurs and their advisors should recognize that high levels of confidence may lead to lower levels of information search. Recognizing this tendency, they should use care to ensure that entrepreneurial euphoria does not lead to blinders in the search for information.     

健康信息获取渠道对城市老年人健康信息素养的影响 ——基于我国西部地区三省市的问卷调查分析

基于2017年中国西部三个省市的812份老年人调查数据,利用列联表交叉分析和回归分析方法,探讨健康信息获取渠道对西部地区城市老年人健康信息素养的影响。研究发现:与媒介传播渠道相比,通过人际传播渠道获取健康信息的城市老年人健康信息素养水平普遍要低;通过杂志图书和电视获取健康信息对城市老年人健康信息素养产生正向影响作用;通过杂志图书和电视获取健康信息、受教育水平高、汉族、自评经济状况好、具有慢性病患病经历、主动获取健康知识的城市老年人更有可能具备充足的健康信息素养。     

Do Advertising Tools Create Awareness,Provide Information,and Enhance Knowledge? An Exploratory Study

The paper intends to construct an array of advertising tools and tests the influence of the same in creating awareness, providing information, and enhancing knowledge of female consumers. The constructs focus on testing the impact on the aforesaid aspects. The results revealed that advertising tools exert impact in creating awareness, providing information, and enhancing knowledge of the target respondents. However, the advertising tools found to be more effective in providing information and enhancing knowledge. The results also revealed that (1) outdoor advertisements found to have more impact in creating awareness and (2) store advertisements found to elicit more influence in providing information and enhancing knowledge.     

AUTOMATIC REPLENISHMENT PROGRAMS: THE IMPACT OF ORGANIZATIONAL STRUCTURE

Many firms have shifted to response‐based supply chain systems instead of traditional push systems. Research results are presented covering a specific type of response‐based system, Automatic Replenishment Programs (ARPs), in which inventory restocking is triggered by actual sales. The paper looks at the influence of organizational structure, i.e., centralization versus decentralization, on ARP performance and information systems capabilities. Results are mixed. Decentralized firms reported higher performance relating to specific ARP‐related goals. However, no differences were found at a more global level when ARP relationship performance and profitability were examined. Even fewer differences were found between centralized and decentralized firms with respect to their information systems capabilities.     

Product Procurement: A Comparison of Taiwanese and US Retail Companies

The buying function of Taiwanese and US retailers differs in several areas. The consingment method of selling is very prevalent in Taiwan but rarely used in the US. Taiwanense retail buyers were found to have less buying and retail experience than their US counterparts. However, neither buying nor retail experience were found to be significantly retaled to taiwanese buyers' attitudes about product procurement. Significant differences were identified between Taiwanese and US retail buyers' attitudes about country of origin and perceived value of imported merchandise. Taiwanese buyers were found to be more likely to rely on country of origin as an information cue than their US counterparts. On the other hand, as compared to Taiwanese buyers, US buyers were found more likely to percieve foreign apparel as having value than domestically manufactured products.     

An Experiment Testing the Determinants of Non-Compliance with Insider Trading Laws

Recent stories of corporate insiders avoiding losses and, in some cases, generating enormous personal profits as their companies crumbled have led investors to question the integrity of American business and the fairness of the United States stock markets. The SEC tries to ensure the fairness of the stock markets by making and enforcing laws against unfair practices such as insider trading. In the United States, when insiders trade stock based on non-public information, they have broken the law and betrayed the trust that has been placed in them.This study used student subjects to test the relationship between the likelihood of trading based on insider information and subjective probabilities of deterrents and motivations for insider trading. Expected gain, guilt, cynicism, and fairness of laws were the determinants that had a significant relationship with the intent to trade based on insider information. This study also found support for prospect theory with regard to insider trading. The results indicate that subjects are more likely to trade based on insider information to avoid a loss than to achieve an abnormal gain. The study also finds evidence of social desirability response bias.Additional findings of the study were that subjects did not view the determinants for themselves in a manner consistent with how they viewed those same deterrents and motivations for other people. Also, a test of the effects of gender found that certainty and social stigma were significantly higher for female respondents than for male respondents.     

Social Information in Facebook News Feed Ads: Effects of Personal Relevance and Brand Familiarity

The current research examined effects of the “social information” feature in Facebook news feed ads, in relation to personal relevance and brand familiarity. Ads with social information did not always lead to more favorable advertising and brand perceptions. However, interaction effects were found among social information, personal relevance, and brand familiarity, in terms of attitude-toward-the-ad and purchase intention. Social information could help create more favorable advertising responses for unfamiliar and low-relevance brands.     

Comparison of clothing purchase behaviour between US and Japanese female university students

The clothing purchase behaviour of US and Japanese female university students was compared. Evaluative criteria when buying clothing, an interest in clothing and fashion and source of fashion information were studied. Relationships between variables were investigated and the difference and similarity between the two countries were discussed. For evaluative criteria, fit and style/design were ranked the most important in both countries. US students tended to give higher scores for fit, quality, fashion and brand/designer name than Japanese students. Japanese students were more economical, and colour and style/design were important. We found differences in the meaning of fashion between the two countries by cluster analysis. Interest in clothing was almost at the same level in the two countries. But interest in fashion was different; Japanese students were more interested in fashion when they spent more money on clothing. The fashion information sources most frequently used were fashion magazines, store displays, friends and TV. US students were more active in collecting information about fashion and used family members and non-personal sources, such as catalogues, the cinema, newspapers and electronic sources. Japanese students used more retail-oriented sources such as store displays and sales people. In both countries, students who were information search oriented tended to rank evaluative criteria highly and to have more interest in clothing/fashion.     

The Influence of Past Negotiations on Negotiation Counterpart Preferences

Choosing the right counterpart can have a significant impact on negotiation success. Unfortunately, little research has studied such negotiation counterpart decisions. Three studies examined the influence of past negotiations on preferences to negotiate again with a counterpart. Study 1 found that the more favorable a past negotiated agreement the stronger the preference to negotiate with the counterpart in the future. Moreover, this relation was mediated through liking of the counterpart. Study 2 manipulated the difficulty of achieving a favorable agreement in the negotiation and found a significant effect of this situational factor such that subsequent counterpart preferences were less favorable when the negotiation was difficult. Similar to Study 1, this effect was mediated through liking of the counterpart. Study 3 examined the possibility of debiasing negotiator preferences from the biasing influence of situational characteristics by providing relevant information about the negotiation situation. Replicating the results of Study 2, negotiation difficulty affected counterpart preferences before additional information was given or when irrelevant information was given. However, once negotiators received relevant information on the negotiation situation, the effect of negotiation difficulty disappeared. Theoretical and practical implications are discussed.     

How green is your packaging—A comparative international study of cues consumers use to recognize environmentally friendly packaging

Consumers have grown increasingly aware of the impact of packaging on the environment. Therefore, interest has grown in more environmentally friendly packaging, but we wondered how consumers recognize ‘green’ as distinct from ‘grey’ when evaluating packaging. We asked over 3,000 respondents from Germany, France and the United States how they recognize environmentally friendly packaging. To solicit responses that we may not have anticipated, we used an open‐ended format, which we then followed with a closed‐ended format so that we could compare the two sets of responses. Not surprisingly, in both sets of responses, we found labelling to be the attribute consumers rely upon most, as well as evidence of misleading labels. We also found consumers in Germany and the United States relied on information on the packaging and named searching for information as one of their preferred ways to decide whether packaging is environmentally friendly. French consumers seemed less trusting of published information and more trusting of the look and feel, especially the material, of the package. Our results point to the importance of cultural influences in the acquisition of perceptual cues by the consumer.     

Women's Responses to Sex in Advertising

Abstract

Advertising researchers have neglected to analyze women's reactions to sexual appeals, and researchers are just beginning to recognize the utility of personality variables as predictors of responses to sex in advertising. This study addresses both areas by testing women's reactions to a sexual commercial, and examining the relationship between women's sexual schemas with their responses. Sexual schemas are people's cognitive views of themselves that predict approach/avoidance to sexual behavior and sexual information. Overall, women who have more positive sexual self-schemas (sex positive) were found to have more positive attitudes-toward-the-ad and brand interest for the sexual ad. Purchase intention, however, was not affected. The findings and their implications are discussed.     

A Consumer Evaluation of Quality Indicators for Physician Care

Proposed measures of the quality of physician care have been evaluated, but the discussions in the literature concede that little is understood about how this information, when made available to the health care consumer, will affect the choice of physician. This study presented fifteen indicators, including some suggested by the services marketing literature, to health care consumers and asked them to evaluate the usefulness of each in judging the quality of physician care. It was found that patient experience indicators, medical community indicators and marketing symbol indicators were consistently more useful than legal information indicators and practice characteristic indicators. It was also found that it is possible to discriminate within age, education, and occupation groups on the basis of their responses to these quality indicators.     

Processing numerical versus verbal attribute information: A study using information acquisition patterns

Past studies on the differences between the processing of numerical and verbal information have typically considered numerical information in the form of ratings on a scale (scale-value numerical information). They have not focussed on numerical information in their natural unit of measurement (natural-value numerical information), which is more commonly found in marketing communications. This study tests previous findings using natural-value numerical information instead of scale-value numerical information under learning and choice tasks. Results suggest important differences between the processing of natural-value and scale-value numerical information.The authors thank Professor Terry L. Childers, Professor Donald Lehmann, and two anonymous reviewers for helpful comments on a previous draft of the paper.     

Chief executive officer ability and corporate environmental sustainability information disclosure

This study explores the impact of CEO ability on corporate environmental sustainability information disclosure. We take samples from Chinese A-share listed companies from 2010 to 2019 and use the ordinary least squares as a baseline regression model to check the relationship between CEO ability and corporate environmental sustainability information disclosure. Our findings are robust to different corporate environmental sustainability information disclosure measures and CEO ability. We found a positive association between CEO ability and corporate environmental sustainability information disclosure; thus, firms with a more able CEO are more likely to disclose more corporate environmental sustainability information. Our results also found a significant negative interaction coefficient between CEO ability and CEO career concerns. As the CEO grows older, his/her ability decreases; therefore, corporate environmental sustainability information disclosure reduces. Furthermore, we document that a female CEO strengthens the relationship between CEO ability and corporate environmental sustainability information disclosure. The study results are important for understanding corporate environmental responsibility development and implementation, particularly in China.     

Cooperation as a Mediator between ICT and Export Success

The use of new information and communication technologies has been reshaping the export paradigm for more than a decade and exponentially increasing the possibilities of the exporting companies in international markets. The Internet improves establishing contact with partners in other countries for trade, optimizes daily communication with them, and makes companies more efficient in finding information on the markets they are reaching. According to these implications, to what extent do new technologies have a positive impact on the success of companies abroad? Does the use of these technologies facilitate cooperation between exporters and trading partners in the export destination country? The purpose of this research is to examine the influence of Internet technology upon export success when companies use this technology to find relevant information on foreign markets, improve communication in the business process, and enhance contacts with customers and distributors in distant countries. This study reveals that cooperative relationships between export companies and their foreign customers/distributors have a mediating effect between ICT and export success. Moreover, a surprisingly low significance of using ICT to support sales activities and develop lasting business relationships on export success has been found.     

The influence of online information on investing decisions of reward-based crowdfunding

How does online information influence investor decisions? Funders or investors have access to a variety of information about a project or product when they make investment decisions. Which kind of information affects investor behavior the most? Based on the elaboration likelihood model, we developed a research model and conducted an empirical study using objective data collected from a Chinese crowdfunding website. It was found that signals of quality and electronic word of mouth have significant positive effects on funder investment decisions. Results show that larger introduction word counts and video counts make funders feel the project has higher quality, and higher “Like” counts and online reviews make funders feel the project has good electronic word of mouth. Furthermore, analysis of the data here reveals that the central route information (signals of project quality) and the peripheral route information (e-word of mouth) have almost equal effects on funder investment decisions in the Chinese crowdfunding context. On the other hand, the central route was significantly more important for Science & Technology and Agriculture projects, whereas the peripheral route was more important for Entertainment and Art projects.     

An investigation of gender differences in on-line privacy concerns and resultant behaviors

This study examines whether gender differences are apparent in attitudes and behaviors toward advertising and marketing practices involving information gathering and privacy on-line. As part of a larger study, 889 internet users nationwide were surveyed using electronic mail. Results indicated that women and men differed significantly in their attitudes toward several practices, with women generally appearing more concerned about the effect the practice would have on their personal privacy. Additionally, the study found that men were likely to adopt behaviors to protect their privacy when they became concerned; women, however, rarely adopted protective behaviors. Implications for web advertisers are provided.     

Founders' experiences for startups' fast break-even

While some previous studies have found that the role of founders' collective experiences is paramount in resolving problems inherent in startups, others have failed to substantiate this. This study claims that this incongruence is attributable to a failure to consider organizational processes in which founders' experiences translate into organizational assets through information distribution and interpretation. Using the data from the Panel Study of Entrepreneurial Dynamics, this study demonstrates that startups reach their break-even point faster when their founders have had work experience in the same industry, and that this effect becomes stronger when these firms commit more resources to information distribution and interpretation.     

The Effect of Information Sources on the Success of the Organizational Buying Process

The objective of this empirical study was to investigate how the use of internal and external information sources influence the success of an organization’s buying process, and how the characteristics of the buying task influence the employment of these information sources during the buying process. Quantitative data were collected by structured interviews among Finnish business organizations early in 2008. The results suggest that the employment by an organization of information provided by a supplier during the buying process has a significant but contradictory influence on the success of the buying process. Furthermore, the complexity, newness, and importance of the buying situation were found to have a significant influence on the employment of different sources of information during the various stages of buying process. Perceived risk of the buying task was found to have no significant effect on the use of different information sources.     

Food choices in Ethiopia: does nutritional information matter?

This article reports results from a framed market experiment conducted to examine whether milk choices are responsive to changes in the nutritional characteristics of milk products. Using a random‐effect Tobit model, we analyzed experimental data collected from 160 participants in urban Ethiopia. It shows that sensory properties play a key role in the acceptance of reduced‐fat milk while the provision of nutrition information has a mixed effect on a price premium. Further, a substantial percentage of participants were found to have a strong preference for whole milk while only 19% of them prefer reduced‐fat milk with 2.8% price premium. The study unveils a heterogeneous preference for the nutritional quality of milk products. Consumers’ health problems and socio‐demographic characteristics influence their preference for the nutritional quality of milk products. The result also shows a nutrition‐taste tradeoff, yet consumers place more value on sensory experience. Contrary to earlier studies, we found that prior belief about milk quality influences how consumers value sensory experience and nutrition information.