The factor content of Chinese trade

This article demonstrates that the growth of China's exports in recent years is consistent with the Heckscher–Ohlin–Vanek (HOV) prediction of the factor content of trade based on international differences in factor endowments, after adjusting for substantial differences in factor-specific productivity. A comparison of the Organisation for Economic Co-Operation and Development input–output data in the year 2000 shows that China's labor productivity relative to the United States is the lowest in a sample of 33 diverse countries, although China's capital is more productive than US capital. This in turn demonstrates the importance of a factor-specific rather than factor-neutral productivity adjustment common in much of the HOV literature. The use of value-added data to measure factor usage helps to correct for unobserved differences in factor qualities and differences in productivity across sectors, as is demonstrated for China. China's low average labor productivity reflects the structure of the Chinese economy where most employment is still in the inefficient agriculture and service sectors, with only 11% of employment in the more modern export-oriented manufacturing sector. Due to a trade surplus, China exports both labor and capital but Leamer's (The Journal of Political Economy 1980;88: 495–503) test for trade-revealed factor abundance confirms that China is labor abundant even after substantial factor-specific productivity adjustments.     

Make my memory: How advertising can change our memories of the past

Marketers use autobiographical advertising as a means to create nostalgia for their products. This research explores whether such referencing can cause people to believe that they had experiences as children that are mentioned in the ads. In Experiment 1, participants viewed an ad for Disney that suggested that they shook hands with Mickey Mouse as a child. Relative to controls, the ad increased their confidence that they personally had shaken hands with Mickey as a child at a Disney resort. The increased confidence could be due to a revival of a true memory or the creation of a new, false one. In Experiment 2, participants viewed an ad for Disney that suggested that they shook hands with an impossible character (e.g., Bugs Bunny). Again, relative to controls, the ad increased confidence that they personally had shaken hands with the impossible character as a child at a Disney resort. The increased confidence is consistent with the notion that autobiographical referencing can lead to the creation of false or distorted memory. © 2002 John Wiley & Sons, Inc.     

Anreizsysteme als Instrument des Beteiligungscontrolling in Venture-Capital-Gesellschaften

Vor dem Hintergrund des Prinzipal-Agenten-Ansatzes werden vorhandene Fehlanreize in der Finanzierungsbeziehung zwischen Venture-Capital-Gesellschaften und jungen Unternehmen aufgezeigt. Diese Fehlanreize k?nnen mittels Anreizsystemen, welche ein Instrument des Beteiligungscontrolling darstellen, reduziert oder gar unterbunden werden. Nachdem die Bestandteile von Anreizsystemen und die Anforderungen an diese in allgemeiner Form dargelegt wurden, wird überprüft, inwieweit verschiedene Ausgestaltungen von Anreizsystemen, unter Berücksichtigung in der Praxis verwendeter Finanzierungsarten, diesen Anforderungen gerecht werden und insofern wirkungsvoll als Instrument des Beteiligungscontrolling eingesetzt werden k?nnen.     

Exchange rate exposure

In this paper we examine the relationship between exchange rate movements and firm value. We estimate the exchange rate exposure of publicly listed firms in a sample of eight (non-US) industrialized and emerging markets. We find that exchange rate movements do matter for a significant fraction of firms, though which firms are affected and the direction of exposure depends on the specific exchange rate and varies over time, suggesting that firms dynamically adjust their behavior in response to exchange rate risk. Exposure is correlated with firm size, multinational status, foreign sales, international assets, and competitiveness and trade at the industry level.     

Finding Donors by Relationship Fundraising

Our research utilizes revenue–business-based relationships and data to expand the donor bases of non-profit organizations. Fundraisers desire to predict who will donate and how much to allocate their marketing resources effectively. To answer both questions, we develop the Spatial Tobit Type 2 (ST2) model that integrates the auto-Logistic (AL) and auto-Gaussian (AG) models into the Tobit type 2 framework. The AL component is used to predict who is likely to donate by inferring inter-client similarities based on the clients' transaction information from the revenue businesses. Similarly, the AG component is used to predict how much based on a similar measure of inter-client similarities. The Tobit type 2 framework combines both components into the single framework of ST2. Our empirical application linking a veterinary school's medical treatment records to its donation records demonstrates that clients' relationships built through their medical treatments at the school hospital positively contribute to their donation decisions.     

Testing how information about cost-effectiveness,cause preferences,and geographic preferences interact to affect philanthropic giving

The broad instrumental philanthropy movement advocates for considerations of cost-effective impact in donation decisions. Within that broader movement, the effective altruism movement goes as far as to advocate for cause neutrality and geographic neutrality when prioritizing cost-effectiveness in charity. We present a survey experiment that examined how information about cost-effectiveness, cause area preferences, and geographic preferences interact to affect philanthropic giving. The experiment varied these three dimensions in a hypothetical giving situation and found that cost-effectiveness information had the strongest influence on hypothetical giving. Participants gave most when presented with charities that were shown to be highly cost-effective, local/domestic, and that matched their preferred cause area. Understanding how these three considerations interact to affect donors is important as donors continue to desire more information about the cost-effective impact of their donation.     

Coke is It: How stories in childhood memories illuminate an icon

This paper builds on consumer storytelling theory and childhood memory research by proposing that earliest childhood memory stories are useful for developing brand myths and providing relevance to iconic brands. This article investigates consumers' childhood memories with Coca-Cola and finds that memories from early childhood are more predictive and insightful for understanding current brand attitudes than memories coming from adolescence. A focus group is unable to elicit memories from as early in life as the childhood memory session. In addition, the memories elicited by the group interviewer are not as relevant and meaningful to participants. When participants read experiences coming from the childhood memory session, those who connect with the earliest childhood memory stories have the strongest attitudes toward Coca-Cola. A discussion describes how this research method aids in generating insights about iconic brands and brands aspiring to become iconic.     

Exploring the pension ‘X factor’ for generation Y men

In order to reduce state dependency in retirement, current UK pension policy automatically enrols employees into workplace pensions. A key component of success is preventing workers opting-out of the workplace scheme. However, Australian research examining auto-enrolment policy indicates that young men prioritise enjoying life over retirement saving. This article seeks to inform financial services marketing within the new pension auto-enrolment context through examining attitudes towards retirement and pensions among young men in the United Kingdom. Qualitative data is gathered from five dyadic interviews, thematic analysis reveals salient issues of widespread mistrust, negative perceptions of retirement and limited knowledge of auto-enrolment coupled with confidence in future earnings and a desire for greater control. The article concludes with implications for pensions communications planning.