USING THE CAPM AS A GENERAL FRAMEWORK FOR ASSET PRICING ANALYSIS

In this paper a model of asset pricing is derived that relaxes the restrictive assumptions of standard theories. The model leads to a tractable capital asset pricing model framework that can be used to test empirical hypotheses and draw important insights on capital market equilibrium.     

振动应力筛选

本文介绍了振动应力筛选技术,讨论了建立振动应力筛选的益处,应考虑的主要问题以及应牢记的关键因素。     

Character and Virtue Ethics in International Marketing: An Agenda for Managers, Researchers and Educators

This article examines the applicability of character and virtue ethics to international marketing. The historical background of this field, dimensions of virtue ethics and its relationship to other ethical theories are explained. Five core virtues – integrity, fairness, trust, respect and empathy – are suggested as especially relevant for marketing in a multicultural and multinational context. Implications are drawn for marketing scholars, practitioners and educators.     

Does mandatory food safety training and certification for restaurant employees improve inspection outcomes?

The purpose of this study was to explore the relationship between mandatory food safety training and certification and inspection results of chain restaurants and independent restaurants, using current food safety inspection results of food service establishments in Central Florida. More specifically, this study examines whether there is any statistically significant difference in the violation frequency among chain and independent restaurants. Reducing the risk of any foodborne illness is a critical strategy that industry stakeholders should pursue in an area dominated by tourism such as Orlando, Florida. A one-way ANOVA was used to determine the differences between the two types of restaurants. Findings indicate that there is significant difference between chain and independent restaurants for critical violations. No difference was found when comparing chain verses independent restaurants for non-critical violations.     

An analysis of efficiency in the delivery of financial services: The case of life insurance agencies

Scale and scope economies are examined for life insurance agencies that distribute multiple financial products. The results of this study suggest that there are significant administrative returns to scale for firms that sell a mix of financial products. The findings for scope estimates are inconsistent, suggesting that there are positive and negative cost complementaries for pairs of products. Subadditivity can be rejected, suggesting that joint distribution of financial products is not necessarily more efficient than specialization and that different-sized agencies are not necessarily at a cost disadvantage.     

Consumers’ Perceptions of Corporate Social Responsibility: Scale Development and Validation

Researchers and companies are paying increasing attention to corporate social responsibility (CSR) programs and the reaction to them by consumers. Despite such corporate efforts and an expanding literature exploring consumers’ response to CSR, it remains unclear how consumers perceive CSR and which “Gestalt” consumers have in mind when considering CSR. Academics and managers lack a tool for measuring consumers’ perceptions of CSR (CPCSR). This research explores CPCSR and develops a measurement model. Based on qualitative data from interviews with managers and consumers, the authors develop a conceptualization of CPCSR. Subsequently, model testing and validating occurs on three large quantitative data sets. The conceptualization and the measurement scale can assist companies to assess CPCSR relative to their performance. They also enable managers in identifying shortcomings in CSR engagement and/or communication. Finally, the paper discusses implications for marketing practice and future research.     

Helpful Reviewers in TripAdvisor,an Online Travel Community

Online communities need a critical mass for communication, information, and entertainment and should provide useful information for their members in order to obtain this critical mass. The abundance of online travel reviews increases cognitive costs of travelers, and travelers use extrinsic cues to judge the quality of online reviews to eliminate costs associated with the information process. Of various cues used in online environments, this study examined an online reputation system in TripAdvisor.com and profiled the reviewers who post helpful reviews in the online travel community. The key findings include that helpful reviewers are those who travel more, actively post reviews, belong to any age and gender groups, and give lower hotel ratings. This study adds to research of online travel reviewers by characterizing helpful information creators among online content creators.     

Informal authority in organizations

We assert that decision rights in organizations are not contractible:the boss can always overturn a subordinate's decision, so formalauthority resides only at the top. Although decision rightscannot be formally delegated, they might be informally delegatedthrough self-enforcing relational contracts. We examine thefeasibility of informal authority in two informational environments.We show that different information structures produce differentdecisions not only because different information is broughtto bear in the decision-making process, but also because differentinformation creates different temptations to renege on relationalcontracts. In addition, we explore the implications of formaldelegation achieved through divestitures.     

Market development in practice: A case study of user‐initiated product innovation

User‐initiated innovation refers to the inauguration of new industrial processes and products by their users rather than by manufacturers. The marketing literature has recently been enhanced by the reconceptualisation of industrial innovation to include the possibility of this customer‐active approach. But the accounts of customer‐active innovation which have so far appeared confine the role of the user to the development of internally‐applied process innovations, leaving their wider commercial exploitation entirely to manufacturers. This article presents a case study of the development of flexible manufacturing systems in a major British company and demonstrates the importance of recognising the active role of users in product innovation.     

Secondary upwelling instabilities developed in high Rayleigh number convection: Possible applications to hot spots

We have conducted numerical experiments for mantle convection in an axisymmetrical spherical-shell geometry from Rayleigh numbers ranging from three million to 10 billion for a purely basal heating configuration. We focus on the development of secondary instabilities developed from plumes and compare them with laboratory experiments by Skilbeck and Whitehead (1978) and Whitehead, (1982). For Rayleigh numbers between around thirty million to one billion, a string of these secondary instabilities can develop from a single plume. Analysis of the spectrum of wavelength associated with the fold instabilities shows that there is a window in the Rayleigh number between around ten million and one bilion where these secondary folding instabilities would develop. These results, when applied to the upper mantle, may explain the formation of hot-spots in a turbulently convecting upper-mantle with a Rayleigh number greater than ten million.