Breaking Through Complexity: Visual and Conceptual Dimensions in Logo Evaluation across Exposures

This research investigates the effects of visual and conceptual complexity (VC and CC) on brand logo evaluations at single and multiple exposures. Building upon the theoretical distinction between visual and conceptual constructs and on a processing fluency account, it is proposed that the effects of VC and CC on attitude toward the logo change across exposures following opposite patterns, and are driven by the mechanisms of perceptual fluency and conceptual fluency, respectively. The results of a hybrid experimental study suggest that the initially positive effect of VC on attitude toward the logo becomes negative with multiple exposures, whereas the initially negative effect of CC on attitude toward the logo becomes positive as exposures increase. The findings contribute to research on consumer reactions to the visual elements of brands, and offer guidelines to brand managers and logo designers for leveraging on VC and CC, as well as on the number of exposures, in order to raise the attractiveness of logos.     

Early cost management practices, state ownership and market competition: the case of the Royal Textile Mill of Guadalajara, 1717-44

Existing literature on the deployment of cost techniques in early public sector organizations largely relies on archival evidence gathered from late eighteenth and nineteenth-century settings. Arguably, these contexts are characterized by a number of idiosyncratic characteristics that advise caution in generalizing conclusions beyond the institutional elements that forged those settings. Our investigation examines the case of the Royal Textile Mill of Guadalajara (RTM), a setting characterized by state ownership, competitive markets, organization of production around medieval guilds, and recruitment of foreign experts to conduct productive operations. Our findings show that the management of RTM deployed cost accounting techniques that comprised aspects such as control of raw materials and waste, control of labour and management, and allocations of overhead to product costing. We also find evidence which departs from predictions that standards relating to the control of raw materials should have preceded the implementation of labour cost standards.     

‘Managing successful change in the public sector’: a view from the consultants’ world

Our paper presents the results of a survey on the perceptions of 680 Italian public-sector consultants on the drivers of successful organizational change according to Fernandez and Rainey’s model. The results show that the consultants mostly confirm the model, though recognizing that the various drivers have different degrees of relevance. A clear vision and plan for change and the top management’s commitment are seen as central in change processes, whereas interestingly, resource availability and a comprehensive approach to change appear to play a less relevant role.     

Local variety and innovation performance in the EU textile and clothing industry

ABSTRACT

A large body of the literature showed that related variety at local level is more relevant than unrelated variety for explaining the innovation performance of firms. Knowledge relatedness is usually measured by considering activities within the same industry (i.e. the same two-digit code) while activities in different industries are associated with unrelated variety. This approach is challenged by the increasing relevance of transversal technologies, i.e. technologies that are developed and applied in rather different sectors. As a result, between industry variety (i.e. unrelated variety) is expected to be more important than within industry variety (i.e. related variety). We test this hypothesis by examining the innovation activities of firms in the textile and clothing industry. The innovation model of these firms is characterized by low investment in R&D, little capabilities for autonomous innovation and dependence from knowledge suppliers belonging to different sectors. The empirical analysis, carried out over the 1996–2014 period at the EU NUTS2 level, shows that between industry variety has a greater impact than within industry variety for the innovative performance of firms.     

E Pluribus Unum? Authorities' Design in Financial Supervision: Trends and Determinants

This paper presents an analysis of recent trends and determinants in the architectures of financial supervision, focused on the authorities design. We propose a path dependence approach to study the single authority versus multi-authority dilemma, considering the level of financial supervision consolidation as the dependent variable. In particular, in a movement towards full consolidation in supervision, one can think of two sharp alternatives: a monopolist central bank or a pure single financial authority. Given that the degree of supervision consolidation seems to be inversely correlated with central bank involvement in supervision itself, the paper sheds light on the possible explanation of this trade-off. The trade off is tested using Probit techniques with a sample of 68 countries. JEL Classification Numbers: E58, G20, G38, L51     

The financial transaction tax — Boon or bane?

Against the backdrop of the debate over the introduction of a financial transaction tax (FTT) in the European Union, this Forum is dedicated to the discussion of issues concerning the implementation and impact of such a tax on the financial sectors of the member states. Dorothea Sch?fer regards as the main policy goal of an FTT to be the prospect of slowing down the mutually reinforcing and growing trends of an increasing number of derivative products and shorter holding periods. The FTT can therefore make an important contribution to preventing the decoupling of financial markets from the real economy. The paper by Stephan Schulmeister discusses the essential features of a general FTT that will ensure that the more short-term oriented and riskier a transaction is, the greater the effect of the FTT on transaction costs. John Vella identifies some commonly made claims about an FTT which are of questionable foundation and compares the FTT with some alternative taxes on the financial sector. Donato Masciandaro and Francesco Passarelli focus on how an FTT measure aimed at reducing financial systemic risk can cause political distortions, leading to inefficient and ineffective policies. Finally, the paper by Ross Buckley analyses common myths, inaccuracies and untruths about the EU’s proposed FTT.     

Growth,Diversification, and Business Group Formation in Entrepreneurial Firms

Recent empirical research has demonstrated that the growth process of entrepreneurial firms is frequently achieved through the formation of business groups: i.e. a set of companies run by the same entrepreneur (or entrepreneurial team). This has been hypothesised as result of a growth process by diversification of the original activity. This entrepreneurial growth process offers an alternative explanation for the formation of business Groups, than that arising from managerial efficiency and expediency. The main aim of the article is to explore group formation through entrepreneurial diversification using a sample of high growth entrepreneurial firms. The analysis demonstrates that the running of a group of companies by the same entrepreneur is not only induced by the geographical extension of their operation and by diversification but also by the differentiation policy aimed at serving different market segments within the same sector. This seems to contrast with the diversification policy and organisational setting of large, managerial firms     

An investigation on the effectiveness of hedonic versus utilitarian message appeals in luxury product communication

This research studies the role of hedonic versus utilitarian message appeals in luxury goods communication, investigating how using one or the other type of message appeal affects product perceived luxuriousness and, in turn, product attitude, and consumers' willingness to buy. This research presents three experiments in which message appeal and brand prominence have been manipulated, while perception of luxuriousness, attitude toward luxury products, willingness to buy them and consumers' conspicuous consumption orientation have been measured. Hedonic, compared with utilitarian, message appeals increase perceived luxuriousness, thereby increasing product attitude and consumers' willingness to buy the product promoted. This effect is particularly likely to occur for consumers with lower levels of conspicuous consumption orientation and for products carrying lowly prominent logos. We extend the literature on luxury communication by studying the effect of hedonic versus utilitarian message appeals on consumers' responses, and the literature on hedonism versus utilitarianism by studying this dichotomy in the context of luxury goods communication. This research suggests that different message appeals used in luxury goods communication produce different effects on consumers' responses and that this differential effectiveness is particularly likely to manifest for certain types of consumers and certain types of luxury products.