An Alternative Approach to the Measurement of Emotional Attachment

Emotional attachment (EA)—the emotional bond connecting an individual with a specific target—has been identified as an important construct within the marketing domain. Despite all the research, there is no consensus on how the construct should be measured. A major factor contributing to this confusion is that current definitions and, consequently, scales of EA focus on describing reactions toward specific referents of attachment rather than on capturing the extent of emotion an individual feels; hence, hindering construct validity. In this article, the authors scrutinized the concept validity of EA. After defining the construct, scale development procedures were followed to propose an alternative one‐dimensional scale that reflects the abstract nature of EA. Three studies support the scale's reliability as well as the discriminant, convergent, criterion, and nomological validity of the measure. The studies tested the scale under different marketing contexts. Moreover, by employing the new measure, the findings showed that EA and self‐concept maintenance (SCM) are related, yet different constructs. Specifically, the results showed that these constructs interact to predict willingness to pay (WTP) for a brand such that when SCM is low, WTP is predicted by EA. However, when self‐concept is high, the effect of EA on WTP is not that strong. This new scale will help researchers extend research on EA to a broader set of contexts, explore the relationship between EA and related constructs, develop nomological networks, and prevent the confounding of terms.     

Does contingent pay encourage positive employee attitudes and intensify work?

This article explores the relationships between three dimensions of contingent pay – performance‐related pay, profit‐related pay and employee share‐ownership – and positive employee attitudes (job satisfaction, employee commitment and trust in management). The article also examines a conflicting argument that contingent pay may intensify work, and this can detract from its positive impact on employee attitudes. Of the three contingent pay dimensions, only performance‐related pay had direct positive relationships with all three employee attitudes. Profit‐related pay and employee share‐ownership had a mix of negative and no significant direct relationships with employee attitudes, but profit‐related pay showed U‐shaped curvilinear relationships with all three employee attitudes. The results also indicated that performance‐related pay is associated with work intensification, and this offsets some of its positive impact on employee attitudes.     

Information in stock prices: the case of the 2016 U.S. presidential election

On the day before the 2016 U.S. presidential election, the odds of Hillary Clinton winning the presidency, according to political prediction markets, were above 90%. Surprisingly, Donald Trump won the Electoral College handily. In this study, we examine how movements in specific stock prices foreshadowed the eventual outcome. Specifically, we conduct a series of standard event-study tests focused on pharmaceutical companies, which became a focal point during the presidential campaign. Results show that while stocks of pharmaceutical companies significantly underperformed the market prior to the election, prices substantially increased beginning three days before the election outcome. This increase is both statistically significant and economically meaningful and robust to various event-study methodologies. These results suggest that some sectors of the stock market seemed to anticipate the election outcome.     

Training and organisational performance: A meta‐analysis of temporal,institutional and organisational context moderators

Drawing on systems theory, we conducted a moderated meta‐analysis of the training and organisational performance relationship using 119 primary studies. We examined the moderating effects of quality versus quantity of training, time, institutional and organisational context factors in the relationship between training and organisational performance. Our findings reveal that training is positively and directly related to organisational performance with no statistically significant difference between measures of training quality and quantity. We found that the relationship was stronger over time and that country performance orientation and country labour cost moderate the training and organisational performance relationship. We found no evidence for the moderating effects of the three organisational context moderators we examined (i.e. industry sector, organisational size and technology intensity). Finally, our results reveal that training type (i.e. general or firm‐specific) does not moderate the training and organisational performance relationship.     

The past,present, and future of brand research

Marketing Letters - This article discusses the past, present, and future of brand research. We begin by reviewing three historical eras of branding development in the past: the information,...     

Measuring the effects of preservation on farm profits in a continuous treatment setting

Despite billions of dollars of public appropriations to state purchase of development rights (PDR) programmes, there has been limited evaluation of the effects of these investments on the economic performance of preserved farms. This article estimates dose-response functions to evaluate the effects of enrolment in New Jersey’s PDR programme on farm profitability. The generalized propensity score method in a continuous treatment setting is used to address selection bias arising from voluntary programme participation. Treatment effects are measured across treatment levels to determine whether farm profitability is affected differently across levels of programme participation. Our findings reveal that, relative to unpreserved farms, profit per acre tends to increase along lower treatment levels. The profit per acre of preserved farms in the 1–40% treatment range is, on average, $407 higher than that of unpreserved farms in the full sample. Positive profit differentials averaging between $317 and $472 per acre are also observed in the 1–20%, 1–40% and 1–60% treatment quintiles in the farming occupation sample. We do not observe statistically significant profitability differentials when treatment effects are averaged across all positive treatment values.