The effects of interactional fairness on satisfaction and behavioral intentions: Mature versus non-mature customers

Given the growing number of mature people, mature consumer behavior has become an increasingly important area of interest to marketers. This article focuses on the effects of interactional form of service fairness to mature customers as compared to non-mature in the U.S. restaurant industry. Following a two-step approach, this study investigates how age differences moderate the relationships between interactional fairness and satisfaction/behavioral intentions. This research stresses the mediating role of satisfaction between interactional fairness and future behavioral outcomes. The findings have important implications for the successful management of customer relationships in a restaurant setting. Limitations and future research directions are also discussed.     

Foreign exchange exposure of US tourism-related firms

To date, literature on foreign exchange risk has paid a particular attention to multinationals in trade-related industries. The tourism sector is also sensitive to the exchange rates between travelers’ home countries and their destinations. Suspecting that the exposure of domestic tourism-related firms to foreign exchange risk results from price elasticity of demand, the current study tested the cash flow exposure of sample firms, accounting for nonlinearity, asymmetry, and lagged effects. As a result, a significant percentage (78%) of domestic tourism-related firms was found to have significant foreign exchange exposure. This study also found that exchange rate exposure for tourism-related firms was nonlinear, asymmetric, and lagged. The evidence implied that several tourism-related firms are passive regarding their exposure and may face financial burdens caused by demand fluctuations. Implications and suggestions are presented along with the findings of the study.     

Customer complaints in restaurants: Do they differ by service stages and loyalty levels?

Complaints by dissatisfied customers provide managers with an opportunity to learn about problems and take appropriate corrective action to ensure that mistakes do not recur. The authors investigate whether restaurant consumers respond differently to service failures at different service stages and loyalty levels. A survey of 289 customers in the United States found that customers are likely to complain at any service stage following a service failure. Highly loyal customers showed a significantly higher willingness to complain than less loyal customers when a service failure occurs during the greeting/seating and order taking/delivery stages (service stages 1 and 2). Four consumer groups with distinct willingness to complain and levels of loyalty emerged from this study: “silent potential,” “pure complainer,” “silent supporter,” and “loyal voicers.” Among those groups, the silent supporter group (high affective loyalty and low propensity to complain) showed the highest behavioral intentions, whereas the pure complainer group (low affective loyalty and high propensity to complain) showed the lowest behavioral intentions.     

Restaurant experiences triggering positive electronic word-of-mouth (eWOM) motivations

This study empirically examined which restaurant experiences trigger customers to engage in positive electronic word-of-mouth (eWOM), where the quality of restaurant service (food quality, service quality, atmosphere, and price fairness) is the antecedent of eWOM communication. The results of this study suggest that (1) restaurants’ food quality positively influences customers to spread positive eWOM, motivated by their desire to help the restaurant; (2) satisfactory restaurant experiences with service employees triggered positive eWOM, motivated by the need to help the restaurant or to express positive feelings; (3) a superior atmosphere in restaurants elicited positive eWOM motivated by a concern for others; and (4) price fairness in restaurants did not drive restaurant customers toward eWOM. Additionally, this study investigated sources of positive eWOM and types of eWOM media used among opinion leaders in the restaurant industry to enhance the practical implications of the study regarding online marketing. Because of the small number of opinion leaders in the study sample, specifying who the opinion leaders were (the source of eWOM) and the type of eWOM media the opinion leaders used had no effect. Further discussion and implications are provided in the text.     

凯瑟琳·曼斯菲尔德小说中的"精神顿悟"

凯瑟琳曼斯菲尔德以文人和与此相排斥的世俗生活中发生的个人生活为短篇小说的主题。与詹姆斯乔伊斯的短篇一样,曼斯菲尔德通过其作品中人物的顿悟引起故事情节的扭转,并给读者造成一定的悬念。乔伊斯在短篇小说中,通过在祖国爱尔兰的背景下发生的各种状况,实现故事情节的扭转并发展到故事的结局;与此相反,曼斯菲尔德在其小说中却通过个人生活引起的顿悟使读者产生疑问,在这一点上,它展现了故事的新功能。本文通过曼斯菲尔德顿悟与乔伊斯顿悟的比较,考察顿悟的引入和故事情节中的具体表现。     

Perceived values,satisfaction, and behavioral intentions: The role of familiarity in Korean restaurants

This study examined American customers’ perceptions of values regarding dining experiences in Korean restaurants in the United States. Specifically, the effects of hedonic and utilitarian values on customer satisfaction and behavioral intentions were investigated. This study also examined the moderating effect of familiarity with Korean restaurants on the relationships among perceived values, satisfaction, and behavioral intentions. Overall, the results indicated that American customers valued the utilitarian aspects of Korean restaurants more than the hedonic aspects. Additionally, utilitarian aspects had a stronger impact on customer satisfaction and behavioral intentions than hedonic aspects. However, when considering customers’ familiarity level with the restaurants, hedonic aspects more effectively induced positive behavioral intentions in the low familiarity group, proving that familiarity has a moderating role. Conversely, utilitarian aspects appeared to be more influential in terms of the behavioral intentions of the high familiarity group. Theoretical and practical implications are also discussed.     

Analytic valuation formulas for range notes and an affine term structure model with jump risks

We derive analytic valuation formulas for range accrual notes and spread range accrual notes under an affine term structure model with jump risks. We show that the value of a range accrual note can be significantly affected by the choice of interest rate model and the arrival intensity of jump risks. We also show that misuse of the correlation between reference rates of a spread range accrual note may lead traders and risk managers to mispricing of the note.     

Properties of Market Expectations of Accounting Earnings by Financial Analysts: UK versus US

This paper compares patterns and properties of financial analysts' forecasts (FAFs) of earnings between the UK and the US. Using 299 UK and 400 US firms from the same data source—Institutional Brokers Estimate System tapes—the accuracy of forecasts is examined and the sources of errors analysed. The results reveal that FAFs errors in the UK are much smaller than those in the US, and that this disparity persists even after controlling for firm size and industry effects. Further, FAFs of US firms demonstrate consistent overestimation of earnings over the sample period 1988–1990, while UK firms show overestimation in only one of three years. A model developed to test the determinants of forecast error reveals that forecasters of UK firms are influenced in a somewhat different fashion from those of US firms. While dispersion, predisclosure information (market capitalisation or number of analysts), and industry are common determinants of forecast error for both countries, the percentage of forecasts revised is a major determinant only for UK firms.     

Citations of Most Often Cited Economists: Do Scholarly Books Matter More than Quality Journals?

This paper empirically investigates the determinants of citations based on the publication of the top 100 most often cited economists. The effects of publication age and author fame on subsequent citations are found to be positive and significant. Citations are also significantly affected by popular subfields in economics. However, journal quality measures, such as impact factors, download statistics and top‐4 elite journals, have insignificant effects on citations. In contrast, the citation effect of scholarly books is positive and significant, and its impact is even greater than those of journal quality measures.     

On expectations‐driven business cycles in economies with production externalities: A comment

Eusepi (2009, International Journal of Economic Theory 5, pp. 9–23) analytically finds that a one‐sector real business cycle model may exhibit positive co‐movement between consumption and investment when the equilibrium wage‐hours locus is positively sloped and steeper than the household’s labor supply curve. However, we show that this condition does not imply that expectations‐driven business cycles will emerge in Eusepi's model. Specifically, a positive news shock about future productivity improvement leads to an aggregate recession whereby output, employment, consumption and investment all fall in the announcement period.