The motives and performance of cross-border acquirers from emerging economies: Comparison between Chinese and Indian firms

During the recent decade, the world has witnessed the rapid growth of MNEs from emerging economies. Their increasing participation in cross-border mergers and acquisitions has raised great attention in the extant literature. This study evaluates the value creation from these cross-border transactions from two representative emerging countries, namely China and India, and determines factors that result in the different performance of these international acquisition activities. Cross-border acquisitions conducted by these countries’ companies indeed lead to significant shareholder wealth creation. Furthermore, Indian shareholders are more likely to benefit from deals in small cultural distance countries, while Chinese investors gain from the cross-border expansion of manufacturing companies. Location also affects the performance of cross-border acquisitions, with acquisitions into developed countries generating higher returns to shareholders. Our sample consists of 203 Indian and 63 Chinese cross-border deals over the period 2000–2010 and our results hold after controlling for various deal-level and firm-level characteristics.     

Understanding the Influence of Cues from Other Customers in the Service Experience: A Scale Development and Validation

During most consumer exchanges, particularly in service and retailing settings, customers are “in the factory” and, as a result, the presence of other customers can have a profound impact on customer experiences. Despite studies demonstrating the importance of managing the customer experience and customer portfolios, the marketing literature lacks a comprehensive scale that can be used to assess individuals’ perceptions of other customers during commercial transactions. This study conceptualizes a three-dimension, Other Customer Perception (OCP) scale to address this gap. Using a seven-step scale development process, the multi-dimensional conceptualization is supported and validated and the research demonstrates the impact of the OCP dimensions on consumers’ approach and avoidance intentions. The findings provide a clearer understanding of how other customers can indirectly influence assessments of a customer exchange and can assist in the measurement of other customer perceptions in future research efforts.     

D-optimal two-level orthogonal arrays for estimating main effects and some specified two-factor interactions

Theoretical results are derived for finding D-optimal two-level orthogonal arrays for estimating main effects and some specified two-factor interactions. The upper bounds of the determinant of the related matrix for D-optimality are obtained. For run sizes 12 and 20, D-optimal orthogonal arrays are found for all requirement sets with three or less two-factor interactions, and all the D-optimal orthogonal arrays except one can be constructed by sequentially collecting columns. Examples are also given for run sizes 36 and 52 to discuss the guidelines to construct D-optimal orthogonal arrays.     

Some Comments on the Role of Lesbianism in Feminist Economic Transformation

This paper explores the relationship between feminism and lesbianism, arguing both that feminism has encouraged and supported lesbianism, and that the existence of lesbian feminism supports both feminist goals in general and heterosexual feminists in particular.     

Women,Children and Patience: Experimental Evidence from Indian Villages

Researchers have observed that women in developing countries often make more development friendly choices than men. We implemented experimental tasks among a large and diverse sample of married individuals in rural India and found women to make on average more patient and more risk‐averse choices than men. We find important heterogeneity in gender differences in patience: there is no difference for spouses with no children but patience levels diverge if there are small children in a family. The findings imply that conflicting spousal preferences are most likely in poor families with children.     

The same old song: The power of familiarity in music choice

Does "familiarity breed contempt" or is "to know you is to love you"? In this research, we explore the role of familiarity in music choice. We show that although consumers say they would prefer to listen to unfamiliar music, in actuality familiarity with music positively predicts preference for songs, play lists, and radio stations. Familiarity with music is at least as good, if not a better, predictor of choice as are liking, satiation (which actually positively predicts choice), and regret. We suggest that the need for familiarity is driven by consumers' low need for stimulation in the music domain, and show that when the need for stimulation decreases, the power of familiarity significantly increases. In addition to their theoretical contribution, these results are informative for music managers determining playlists, for the promotion of music events and products, and for advertisers selecting the most potentially lucrative music venues.     

Consumer creativity: Effects of gender and variation in the richness of vision and touch inputs

This study investigates the influence of vision and touch inputs and gender on the creativity of consumer-derived product concepts. Manipulating vision and touch richness affects how much information is apprehended from product components. Tests include solid three-dimensional components (rich inputs) and line-diagram two-dimensional components (impoverished inputs). In a controlled laboratory setting, consumers imagined products, and the product concepts' creativity was assessed on functionality and novelty. Results show that higher vision levels and touch inputs enhance the product concept's functionality, while lower levels of vision and touch inputs enhance novelty. Gender modestly affects both functionality and novelty, with women generally more creative in designing products than men.     

Went Fundholding, Going Commissioning? Some Evidence-Based Reflections on the Prospects for Primary Care Groups

Following the publication of the White Paper, 'The New NHS: Modern, Dependable' (Cm 3807), the Labour Government has abolished GP fundholding. Family doctors retain a lead role for primary care in planning health care with the creation of Primary Care Groups (PCGs). In due course, it is expected that health authorities will relinquish direct commissioning of care to PCGs. Although fundholding is ending, its operation provides useful evidence about how GPs approach participation in the planning of health care. This article reflects on the prospects for PCGs, drawing on original research into the reasons why practices volunteered to 'go fundholding' and how those practices selected their 'lead' partner, on whom much of the fundholding burden fell.     

Performance and Performance Persistence of 'Ethical' Unit Trusts in the UK

Abstract:  We examine performance, and persistence in the performance, of UK 'ethical' or SRI funds and find that performance appears to be time-varying, showing that conclusions on performance itself are influenced by whether a static or time varying model is employed. Given evidence that many UK funds which claim to be international in nature may exhibit home bias in their portfolio allocations, we also propose a new measure for performance of international funds that allows for this and show that such recognition has important implications for the conclusions drawn with respect to these funds. We find evidence that supports persistence in performance, particularly at longer time horizons. There is some evidence that for domestic funds, past 'winning' SRI funds outperform 'losing' SRI funds to a greater extent than their control portfolio counterparts.     

Group Characteristics Influence Distribution Patterns of Off-Road Vehicle Recreation within a Complex Trail System in Southwest Idaho

Recreation on public lands is growing and is increasingly recognized as an ecosystem service providing improved health, connection to nature, and social time while also disturbing and degrading ecosystems. Human impacts must be managed, but often managers have little information about the factors that affect recreation patterns. We combined data from global positioning system receivers to record off-road vehicle (ORV) travel with a pretrip survey to determine how group characteristics, site experience, site knowledge, and motivation are associated with ORV trip patterns on public lands in southwest Idaho. Spatial and temporal extent and distribution could summarize most variation in ORV trips. Both trip distribution and extent were associated with group characteristics and site knowledge. Spatial and temporal extent was additionally associated with motivations and distribution was associated with riding experience. These findings can help land managers to identify use patterns, direct informational programs, and effect indirect management strategies.