A prototyping analysis of relationship marketing constructs: what constructs to use when

As relationship marketing research evolved, a number of key constructs emerged. Some scholars have argued that these constructs are not conceptually or empirically distinct. We investigate this phenomenon based on the premise that sustained research effort towards studying conceptually overlapping/redundant constructs, while treating them as independent, can hamper the development of the field. We use prototyping, a method adopted from psychology, to examine consumers’ views of these constructs, and then identify relationship contexts where constructs are distinct or redundant.     

MEASURING HEALTH INSURANCE BENEFITS: THE CASE OF PEOPLE WITH DISABILITIES

Since 2012, the Congressional Budget Office has included an estimate of the market value of government‐provided health insurance coverage in its measures of household income. We follow this practice for both public and private health insurance to capture the impact of greater access to government‐provided health insurance for working‐age people with disabilities, whose market value rose in 2010 dollars from $11.7 billion in 1980 to $114.3 billion in 2012. We then consider the more general implications of incorporating estimates of the market price of insurance, equivalent to that provided by the government, into policy analyses in a post‐Affordable Care Act world. (JEL D31, H24, I18, J31)     

Too much theory,not enough understanding

This essay and the following commentaries address the use of theory in operations management. While much is said about theory in the typical journal article, theory, as science defines it, is not at the center of much of our research. The discipline had fallen into some bad habits. This essay and its commentaries appeal for more attention to what theory can mean for our understanding of operations management.     

Uncertain vacancies and unemployment equilibria

The paper develops a dynamic implicit contracts model to consider the rationale for rejections of qualified applicants in the search process and to explore the implications for unemployment rates under equilibrium in the labor market. The implications are similar to traditional search models, although the effects of stochastic output prices upon equilibrium unemployment can be directly determined. A nearly invariant natural rate result pertains. A stochastic sales-rations variant of the model leads to equilibrium unemployment rates that depend upon both neoclassical and Keynesian factors.     

The implicit use of business concepts in the UK Research Assessment Exercise

Research assessment exercises covering universities in the United Kingdom were established to produce quality ratings as a basis for allocating much of the research funding from central government. They represent some of the largest research management exercises ever undertaken. Amongst other aspects of university performance, the publications of all 'research active' UK academics are evaluated. This paper describes the way in which quality was assessed and funds were allocated as a result of the 1992, 1996 and 2001 exercises. It looks at how the exercises might continue to evolve and the value of a further exercise.
The strategies adopted by universities to maximise their ratings and their income are also considered. Universities have improved their research performance and their reporting methods in response to changes in the criteria and weightings used in the exercise. In parallel the HEFC (Higher Education Funding Council) has changed the ways in which funds have been distributed once the level of research performance has been determined.
The exercises have received much criticism as well as an acceptance that they have changed the culture of academic research. This paper considers the parallel evolution of trends in the management of R&D in business with trends in the management of university research via these exercises. There are underlying assumptions that seem to influence the transfer of policy design principles and management lessons between the two sectors.     

PLANET: An Expert System for Audit Risk Assessment and Planning

PLANET is an expert system for audit risk assessment and audit test selection. At present it is undergoing worldwide field testing by Price Waterhouse audit teams. As a case study, PLANET illustrates a complex interplay of audit methodology issues and expert systems development techniques, and reinforces the validity of many of the widely reported lessons learned about successful expert systems development during the 1980s. However, the experience also challenges elements of this received wisdom while exposing special issues arising in the development of expert systems in the field of auditing.     

THE IMPACT OF FINANCING SOURCES ON MULTINATIONAL PROJECTS

It is shown here that market imperfections, such as corporate taxes, are not a necessary condition for a firm to have a debt denomination preference. When the stochastic nature of project cash flows and exchange rates are explicitly considered, the risk of the project is affected by the source of borrowing used to finance the project. It is also shown that the existence of income taxes causes the expected net present value and risk of a foreign project to depend on the source of the firm's borrowing. The debt denomination preference in both cases depends on project- and country-specific variables.     

Patronage Allocation, Growth and Member Weil-Being in Co-operatives

Capital formation in co-operatives has received a great deal of attention in recent years. Among the questions being raised are whether co-operatives have an adequate equity base and whether members are receiving sufficient benefits to encourage them to patronize the co-operative. The purpose of this paper is to describe the financial relationships that exist between the members of a co-operative and the co-operative itself. The paper also links the method of patronage allocation used in a co-operative to the growth of the co-operative and the well-being of the members. Three of the most commonly used patronage methods are evaluated for their efficacy in this area. It is shown that the percentage equities redemption plan is able to generate rates of growth that are comparable with those generated by the revolving fund, while at the same time providing members with greater returns to their patronage. The paper also examines the impact of different rates of return, alternative membership levels, a change to a cash-based taxation plan, and alternative membership growth patterns on member well-being and the financial health of the co-operative. La formation du capital dans les coopératives a reçu beaucoup d'attention ces dernières années. Parmi les questions soulevées figurent celles qui consistent à savoir si les coopératives ont un avoir des sociétaires suffisant et si les membres reçoivent des avantages de nature à les inciter à le demeurer. Le présent article a pour but de décrire les rapports financiers qui existent entre les membres d'une coopérative et la coopérative comme telle. II relie également la méthode de paiements versées aux sociétaires (ristournes) utilisée dans une coopérative à la croissance de celle-ci et au bien-être des membres. Trois des méthodes les plus couramment utilisées sont évaluées plus leur efficacité dans ce domaine. L'article démontre que le régime de rachat d'un pourcentage de tous les avoirs peut produire des taux de croissance comparables à ceux engendrés par le fonds renouvelable tout en offrant aux membres un meilleur rendement pour récompenser leur fidélité. L'article examine également les répercussions de divers taux de rendement, d'autres niveaux d'adhésion, de l'adoption d'un régime d'imposition basé sur la trésorerie et d'autres modes de croissance de la participation sur le bien-être des membres et la santé financière de la coopérative.