REVISITING GLOBALIZATION CHALLENGES AND OPPORTUNITIES IN THE DEVELOPMENT OF COOPERATIVES

Cooperatives have gained prominent attention in recent years as strategic elements to achieve sustainable economic development and greater social cohesion in the context of neoliberal globalization. This article explores, theoretically, the current challenges and opportunities for cooperatives to develop successfully in the globalizing economy. To this end, we provide an analytical, critical review of the key bibliography concerning some fundamental aspects that shape the relationship between economic globalization and cooperatives, an issue that has been generally neglected by previous literature. Three key fields are addressed: 1) the viability of cooperatives, based on their strengths and possible weaknesses, under current globalization; 2) the role of these organizations in promoting the local development and stability of local communities; and 3) the tensions and potentialities that internationalization entails for cooperatives. Based on the analytical review and the organization of the literature, we propose an agenda for further research. This includes some hypotheses and strategies for testing them that would be essential to assess the role of cooperatives in economic globalization, and sheds light on key areas for future research that could provide a better understanding of the complexity surrounding the relationship between globalization and cooperatives.     

Economic burden of hospital malnutrition and the cost–benefit of supplemental parenteral nutrition in critically ill patients in Latin America

Abstract

Aim: Disease-related malnutrition (DRM) is a prevalent condition that significantly increases the risk of adverse outcomes in hospitalized patients, particularly those with critical illness. Limited data is available on the economic burden of DRM and the cost–benefit of nutrition therapy in high-risk populations in Latin America. The aims of the present study were to estimate the economic burden of DRM and evaluate the cost–benefit of supplemental parenteral nutrition (SPN) in critically ill patients who fail to receive adequate nutrient intake from enteral nutrition (EN) in Latin America.

Methods: Country-specific cost and prevalence data from eight Latin American countries and clinical data from studies evaluating outcomes in patients with DRM were used to estimate the costs associated with DRM in public hospitals. A deterministic decision model based on clinical outcomes from a randomized controlled study and country-specific cost data were developed to examine the cost–benefit of administering SPN to critically ill adults who fail to reach ≥60% of the calculated energy target with EN.

Results: The estimated annual economic burden of DRM in public hospitals in Latin America is $10.19 billion (range, $8.44 billion–$11.72 billion). Critically ill patients account for a disproportionate share of the costs, with a 6.5-fold higher average cost per patient compared with those in the ward ($5488.35 vs. $839.76). Model-derived estimates for clinical outcomes and resource utilization showed that administration of SPN to critically ill patients who fail to receive the targeted energy delivery with EN would result in an annual cost reduction of $10.2 million compared with continued administration of EN alone.

Limitations: The cost calculation was limited to the average daily cost of stay and antibiotic use. The costs associated with other common complications of DRM, such as prolonged duration of mechanical ventilation or more frequent readmission, are unknown.

Conclusions: DRM imposes a substantial economic burden on Latin American countries, with critically ill patients accounting for a disproportionate share of costs. Cost–benefit analysis suggests that both improved clinical outcomes and significant cost savings can be achieved through the adoption of SPN as a therapeutic strategy in critically ill patients who fail to receive adequate nutrient intake from EN.     

Portfolio choice with indivisible and illiquid housing assets: the case of Spain

This paper studies the investment decisions of Spanish households using a unique data-set, the Spanish Survey of Household Finance (EFF). We propose a theoretical model in which households, given a fixed investment in housing, allocate their net wealth across bank time deposits, stocks and mortgage. Besides considering housing as an indivisible and illiquid asset that restricts the portfolio choice decision, we take into account the financial constraints that households face when they apply for external funding. For every representative household in the EFF, we solve this theoretical problem and obtain the theoretically optimal portfolio that is then compared with households’ actual choices. We find that households significantly under-invest in stocks and deposits while the optimal and actual mortgage investments agree. Considering the three types of financial assets at once, we find that the households headed by highly financially sophisticated, older, retired, richer, and unconstrained persons are the ones investing more efficiently.     

Product Placement Versus Conventional Advertising: The Impact on Brand Choice of Integrating Promotional Stimuli into Movies

ABSTRACT

Despite the increasingly favorable environment enjoyed by product placement, the question of whether this technique produces stronger behavioral effects than conventional advertising remains largely unexplored. Based on the transportation-imagery model, we hypothesized that, among users of well-established products, promotional stimuli produce stronger effects on brand choice when integrated into movies than when presented as independent ads, while among nonusers, no differences are expected. Our hypotheses were confirmed in a field experiment that compared the effects of a Coca-Cola placement within the movie Ways to Live Forever with the same Coca-Cola stimulus shown as a usual commercial.     

Adherence to customer loyalty programmes and changes in buyer behaviour

This study examines the factors that influence the effectiveness of customer loyalty programmes to cause a change in consumers' behaviour in retailing services. In particular, three explanatory variables are analysed: the quality of service offered to the customer, her/his trust in the company, and her/his attitude towards loyalty programmes. The results obtained indicate that a change in the buyer's behaviour is directly influenced by her/his loyalty to the retailer and by her/his attitude towards loyalty programmes. Furthermore, an indirect effect on changes in buyer behaviour caused by the quality of service and the consumer's attitude towards loyalty programmes is observed.     

Measuring CSR Image: Three Studies to Develop and to Validate a Reliable Measurement Tool

Although research on the corporate social responsibility (CSR) dimension of corporate image has notably increased in recent years, the definition and measurement of the concept for academic purposes still concern researchers. In this article, literature regarding the measurement of CSR image from a customer viewpoint is revised and areas of improvement are identified. A multistage method is implemented to develop and to validate a reliable scale based on stakeholder theory. Results demonstrate the reliability and validity of this new scale for measuring customer perceptions regarding the CSR performance of their service providers. With regard to this, CSR includes corporate responsibilities towards customers, shareholders, employees and society. The scale is consistent among diverse customer cohorts with different gender, age and level of education. Furthermore, results also confirm the applicability of this new scale to structural equation modelling.     

Leakage,entrepreneurship, and satisfaction in hospitality

Tourism is a very important tool for economic development. However, its economic effects are mainly conditioned by the level of leakage. This work defines leakage, provides an original evaluation of the entrepreneurial environment in showing that it is the one with the lowest level of leakage, and creates a new framework. It also measures leakage in an innovative way using a quantitative approach. In addition, the paper explores and shows how leakage can affect critical business factors, such as customer and employee satisfaction. The empirical study uses structural equations and data from hotels in the Valencian Region (Spain) to show how important leakage is in making businesses more competitive. The results confirm the new model and are of interest for company managers and public organizations.     

Austerity measures in crisis countries — results and impact on mid-term development

Since the onset of the sovereign debt crisis, the crisis-stricken countries in Europe have been pushed to take drastic steps to consolidate their finances and reduce their budget deficits. Despite strong public opposition and largely damaging short-run effects, the countries have undertaken many of the internationally recommended/mandated reforms and spending cuts. In this Forum, authors from Greece, Ireland, Italy, Spain and Portugal report on the fiscal consolidation achieved in their respective countries — and the sacrifices that have made it possible. Furthermore, the authors detail what remains to be done to resolve the crisis.     

The development of a stakeholder-based scale for measuring corporate social responsibility in the banking industry

Research on corporate social responsibility (CSR) has notably increased in recent years and many scales for measuring CSR image have been developed in academic literature. Due to the contextual character recognized in the implementation of CSR strategies, in this paper a new scale based on stakeholder theory is developed to evaluate customers’ perception regarding the CSR performance of their banking service providers. The proposal of reliable measurement tools for evaluating customers’ perception is especially relevant for companies because of their significant role in influencing the design and implementation of corporate strategies. Results demonstrate the reliability and validity of this new scale in two different samples. In the banking industry, CSR includes corporate responsibilities toward customers, shareholders, employees, society, and all legal and ethical requirements of banking institutions. Nevertheless, different kinds of banking institutions have specific CSR images, which reveal different strategic approaches to CSR.     

Tourism as an economic development tool. Key factors

Tourism may serve as tool of economic development (ED). The aim of this article is to determine, through the analysis of determining factors identified in previous studies, which are the most important variables in channelling tourism growth into ED. Using a multivariate linear regression model, the main push and brake factors have been identified, for both developed and developing countries. It has been concluded that countries should maintain low initial provisions for CO₂ emissions, hospital beds, unemployment, energy without CO₂ emissions, and working population. It is also necessary to reduce conflict-related deaths. These results may be crucial in the decision-making processes implemented by policymakers and destination managers, given that they provide extremely useful information for the planning of their actions.