“Minor crimes” against wildlife: Small offenses,lasting impact,and a proposed solution

Past research has examined why people engage in negative consumer behaviors, but research has not adequately examined what drives minor crimes against wildlife, which is important given their prevalence and impact on the welfare of wildlife. We address this need for research with two studies that examine minor crimes against wildlife in the context of wildlife jams (i.e., traffic jams caused by wildlife in and around roadways that obstruct the normal flow of traffic). Study 1 introduces a research methodology very new to the field of marketing by using participant observation and geospatial data to characterize actual behaviors of people during wildlife jam events in a national park setting. Study 2 begins with a pre-test identifying the primary reasons for participation in wildlife jams before the main study tests a message-based intervention strategy to reduce wildlife jams using five conditions (no message, standard message, attitudes-based message, norms-based message, control-based message). Results reveal that a norms-based message reduced intentions to participate in wildlife jams the most, while all messaging tactics were more effective than no message. Findings build on the theory of planned behavior, and suggestions for decreasing consumer harm to wildlife are discussed.     

How Much Do Banks Use Credit Derivatives to Hedge Loans?

Before the credit crisis that started in mid-2007, it was generally believed by top regulators that credit derivatives make banks sounder. In this paper, we investigate the validity of this view. We examine the use of credit derivatives by US bank holding companies with assets in excess of one billion dollars from 1999 to 2005. Using the Federal Reserve Bank of Chicago Bank Holding Company Database, we find that in 2005 the gross notional amount of credit derivatives held by banks exceeds the amount of loans on their books. Only 23 large banks out of 395 use credit derivatives and most of their derivatives positions are held for dealer activities rather than for hedging of loans. The net notional amount of credit derivatives used for hedging of loans in 2005 represents less than 2% of the total notional amount of credit derivatives held by banks and less than 2% of their loans. We conclude that the use of credit derivatives by banks to hedge loans is limited because of adverse selection and moral hazard problems and because of the inability of banks to use hedge accounting when hedging with credit derivatives. Our evidence raises important questions about the extent to which the use of credit derivatives makes banks sounder.

Is it godly to waste food? How understanding consumers' religion can help reduce consumer food waste

Food waste is a problem worldwide, but solutions have yet to adequately incorporate consumers' core values—values which are often rooted in religion. Study 1 shows that restrictive religious norms (e.g., rules about food consumption, fasting) lead to greater food waste, whereas supportive religious norms (e.g., sharing food) lead to reduced food waste. Study 2 replicates prior findings and rules out competing explanations. Study 3 manipulates marketing messaging to show that consumers with higher (lower) levels of religiosity are more likely to reduce food waste with a prevention (promotion) framed message partnered with environmental reasoning or a promotion (prevention) framed message partnered with people-based reasoning. Implications for marketers, consumer advocacy groups, and policy makers desiring to reduce food waste are provided.     

It's Only Once,So Let's Indulge: Testing Ordinary vs. Extraordinary Experience within Marketing Messaging,Temporal Distance,and Consumer Indulgence

Prior research has inadequately examined how the nature of an experience (ordinary/extraordinary) influences consumption, with exceptions exploring outcomes of spending and happiness. This research extends prior work to examine if the nature of an experience within marketing messaging influences actual consumption, is moderated by temporal distance, and is mediated by goal orientation. Results show the nature of an experience within marketing messaging influences consumption through direct manipulation and use of an unrelated greeting card slogan prime (Pilot, Study 1), with extraordinary experiences increasing indulgence. Study 2 replicates prior results with actual consumption to show that extraordinary (ordinary) experiences within marketing messaging lead participants to eat more (fewer) candies. Study 3 builds on construal theory by examining temporal distance (moderator) and goal orientation (mediator) to show that extraordinary (ordinary) experiences 1 month in the future lead to a lower (higher) focus on goals that results in higher (lower) guilt‐related affect.     

The Role of Volatility in Forecasting

Theories of underinvestment propose a link between cash flow volatility and investment and subsequent cash flow and earnings levels. Consistent with these theories, our results indicate that forecasting models that include volatility as an explanatory variable have greater accuracy and lower bias than forecasting models that exclude volatility. The improvement in forecast accuracy and bias is greatest when the firm is most likely to experience underinvestment. The profitable implementation of a trading strategy based on these findings, however, suggests that equity market participants do not incorporate fully the information in historical volatility when forecasting future firm performance.     

Drivers of Sustainability and Consumer Well-Being: An Ethically-Based Examination of Religious and Cultural Values

Journal of Business Ethics - Prior research has examined value antecedents to sustainable consumption, including religious or cultural values. We bridge together these usually separated bodies of...     

The Cause Cue Effect: Cause‐Related Marketing and Consumer Health Perceptions

Many for‐profit companies (e.g., Kraft, Kentucky Fried Chicken, Keebler, 5‐Hour Energy) are partnering with health‐oriented nonprofits (e.g., Academy of Nutrition and Dietetics, Susan G. Komen for Breast Cancer Research, American Red Cross) to make purchase‐contingent donations. Companies use cause‐related marketing to improve brand image and goodwill for their food products and companies. Prior research has examined how food‐related cues can create consumer misperceptions; however, consumer perceptions related to corporate communications (e.g., the use of cause cues) has received little research attention. This research explores consumer reactions to cause cues and finds that adding a health cause to a food package significantly increases product health perceptions, and, usually, product attitude, and purchase intentions (i.e., the cause cue effect) in both a student sample (Studies 1 and 2) and an adult sample on Amazon's mTurk (Study 3). Implications for cueing and inference‐making literature, and for consumer health, and policymakers are discussed.     

In Advertising We Trust: Religiosity's Influence on Marketplace and Relational Trust

Trust is a critical component of marketing for both brands and consumers. Competing theories suggest that high-religiosity consumers could be either more or less trusting of marketing. Thus, this article explores religiosity's influence on broad marketplace trust that influences more specific relational trust in the context of advertising messages. Study 1 shows that marketplace and relational trust positively mediate the relationship between religiosity and product evaluations. Studies 2 and 3 test moderators to this relationship based on three dimensions of religiosity: affective, behavioral, and cognitive.     

Exploring the psychological foundations of ethical positions in marketing

While demographic variables may ease the exploration of marketing ethics, psychological variables may provide more insight into individual differences in making ethical judgments. This article uses path analysis to explore relationships among cognitive style as measured by the Myers-Briggs Type Indicator, Forsyth's ethical ideologies, and perceptions of moral judgments about ethical behaviors in marketing. © 1995 John Wiley & Sons, Inc.