Finding the True Voice of the Customer in CPG Supply Chains: Shopper‐Centric Supply Chain Management

Demand and supply integration is the subject of increasing scholarly attention. The theoretical emphasis on combining market and supply chain data as the basis for strategic and operational decision making is particularly relevant in the context of Consumer Packaged Goods (CPG) supply chains, and offers the basis for advancing our understanding and knowledge in this field. Point‐of‐sale (POS) data are commonly used as the demand signal in CPG supply chains. Using empirical data, this research demonstrates that POS data can be influenced by nondemand factors. We present a number of issues raised by this finding.     

Global Financial Transmission of Monetary Policy Shocks*

The paper analyses the transmission of US monetary policy shocks to global equity markets and the macroeconomic determinants of the underlying transmission process. We show that there is a substantial cross‐country heterogeneity in reactions across 50 equity markets worldwide, with returns falling on average around 2.7% in response to a 100 basis point tightening of US monetary policy, but ranging from a zero response in some to a reaction of 5% or more in other markets. As to the determinants of the strength of transmission to individual countries, we test the relevance of their macroeconomic policies and the role of real and financial integration. We find that in particular the degree of global integration of countries – and not a country's bilateral integration with the United States – is a key determinant for the transmission process.     

Does competitive entry structurally change key marketing metrics?

To what extent does competitive entry create a structural change in key marketing metrics? New players may just be a temporal nuisance to incumbents, but could also fundamentally change the latter's performance evolution, or induce them to permanently alter their spending levels and/or pricing decisions. Similarly, the addition of a new marketing channel could permanently shift shopping preferences, or could just create a short-lived migration from existing channels. The steady-state impact of a given entry or channel addition on various marketing metrics is intrinsically an empirical issue for which we need an appropriate testing procedure.In this study, we introduce a testing sequence that allows for the endogenous determination of potential change (break) locations, thereby accounting for lead and/or lagged effects of the introduction of interest. By not restricting the number of potential breaks to one (as is commonly done in the marketing literature), we quantify the impact of the new entrant(s) while controlling for other events that may have taken place in the market. We illustrate the methodology in the context of the Dutch television advertising market, which was characterized by the entry of several late movers. We find that the steady-state growth of private incumbents' revenues was slowed by the quasi-simultaneous entry of three new players. Contrary to industry observers' expectations, such a slowdown was not experienced in the related markets of print and radio advertising.     

Strategic Behaviour under European Antidumping Duties

In this paper we develop a dynamic two-period model of imperfect competition to analyse the effects of European antidumping duties on firm behaviour and domestic welfare. Our model is one of the first to complement the European empirical literature on antidumping policy and can usefully be compared with papers dealing with the effects of US antidumping policy. We arrive at three important conclusions: (a) the strategic behaviour of European firms under European antidumping rules may run in the opposite direction compared to the incentives for US firms provided under the US antidumping rules; (b) US antidumping rules perform better than European rules in terms of domestic welfare and in terms of protecting domestic value added and employment; (c) the Strategic Trade Policy argument for protection need not apply for antidumping duties because the level of protection is endogenously determined by the firms involved.     

Overcoming barriers to sustainability: an explanation of residential builders' reluctance to adopt clean technologies

The construction industry has great opportunities to significantly reduce CO₂ emissions by improving the energy efficiency of residential buildings. However, in this industry, diffusion of cost‐effective clean technologies has been notoriously slow and below potential. This paper sheds light on factors that explain why construction companies have been reluctant to adopt energy‐efficient technologies. It questions why some companies have intensified their investments in clean technologies, while others are lagging behind. Based on a multiple case study of four Dutch building contractors, the paper shows that contractors that actively gather information and build internal technical capacity are keener on adopting energy‐efficient technologies. Findings also reveal that it will be a major challenge for the construction industry to communicate the advantages of clean technologies to (potential) home buyers and create market demand. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment.     

AN INSTITUTIONAL INNOVATION TO REDUCE THE AGENCY COSTS OF PUBLIC CORPORATE BONDS

This paper proposes an institutional innovation in the structure of public bonds that is intended to provide some of the advantages of private loans- active monitoring, tight covenants, and ease of reorganization-while retaining the benefits of liquidity and ease of diversification provided by publicly traded securities. The authors propose that a publicly registered corporate bond provide for a "supertrustee" who will act on behalf of bondholders. The supertrustee will be charged with responsibility to monitor the compliance of the borrower with the terms of the bond covenants and given exclusive authority to negotiate amendments to the covenants and decide what action to take in the event of a breach of a covenant.     

The process and experiences with creating user-driven innovation programmes in the Netherlands1

In 2005 the Netherlands drafted a new innovation policy, consisting of a basic package for all entrepreneurs and a programme-based package aimed at supporting the Dutch industry in achieving global excellence in a limited number of (business) areas. The programme-based package is characterized by an integral approach, resulting in user-driven public–private innovation programmes. In the new approach, industrial foresight processes are integrated with actual policy implementation. In this paper, we include the lessons learned during the process that led to the first innovation programmes. Also, some unresolved issues in the new approach are discussed.     

Psychosocial Outcomes as Motivations for Visiting Nearby Urban Green Spaces

High-density urban living means that urban green spaces are important nodes of contact with nature. This study examines expected outcomes that motivate people to seek green spaces in urban settings. A sample of Swiss residents were presented with Shin, Kwon, Hammitt, and Kim's (2005 Shin, W., Kwon, H., Hammitt, W. and Kim, B. 2005. Urban forest park use and psychosocial outcomes: A case study in six cities across South Korea. Scandinavian Journal of Forest Research, 20(5): 441–447. [Taylor & Francis Online], [Web of Science ®] , [Google Scholar]) psychosocial outcomes scale and asked which activities they choose to undertake in nearby natural areas. The most important motivations for visiting nearby green spaces were related to restoration, with social bonding as a desirable side benefit. There were few observable differences between urban and rural residents and level of education attained. Older people are motivated to visit nearby green spaces by the wish to seek social contact while younger people are motivated by the wish to seek escape and to reflect. This study contributes to the understanding of the psychosocial outcomes that residents expect from engaging in an activity in an urban green space.     

Returns to social network capital among traders

Using data on agricultural traders in Madagascar, this papershows that social network capital has a large effect on firmproductivity. Better connected traders have significantly largersales and value added than less connected traders after controllingfor physical and human inputs as well as for entrepreneur characteristics.The analysis indicates that three dimensions of social networkcapital should be distinguished: relationships with other traders,which among other things help firms economize on transactionscosts; relationships with potential lenders; and family relationships.We find no evidence that social capital favors collusion.