Double-Loop Sales Adaptation: A Conceptual Model and an Empirical Investigation

Purpose: The purpose of this article is to conceptualize and discuss the phenomenon of a double-loop sales adaptation in sales and its practical application. The resultant framework is developed from existing academic literature on adaptation in sales and marketing and inspired by the concept of double-loop learning.

Methodology/approach: The study adopted an abductive approach, iterating between the empirical world of two service firms and the theoretical world. The developed framework is refined with interview-based feedback from key informants in business-to-business organizations.

Findings: This article develops a framework for double-loop sales adaptation, which combines adaptations of selling behavior with a sales mindset.

Contribution: Although previous research recognizes adaptation as a central aspect of relationships, the link between adaptation and sales mindset has arguably been inadequate in the literature. Accordingly, this study focuses on sales adaptation occurring at the two levels of behavior and mindset.

Implications for practice: The proposed framework provides sales practitioners with a model for adaptation in their customer relationships. By distinguishing between two sorts of adaptation, managers can optimize resource allocation to both benefit the company and strengthen the relationship among parties.     

Non-parametric estimation of operational risk losses adjusted for under-reporting

Not all claims are reported when a database for financial operational risk is created. The probability of reporting increases with the size of the operational risk loss, and converges towards one for big losses. Losses in operational risk have different causes, and usually follow a wide variety of distributional shapes. Therefore, a method for modelling operational risk based on one or two parametric models is deemed to fail. In this paper, we introduce a semi-parametric method for modelling operational risk that is capable of taking under-reporting into account and being guided by prior knowledge of the distributional shape.     

Relationship Quality—Relationship Value and Power Balance in Business Relationships: Descriptives and Propositions

Purpose: The objective of this study is to develop understanding of the interplay between the perceptions of power balance, relationship value, and relationship quality between retail distributors and their suppliers.

Methodology: The authors applied a phenomenological approach in both qualitative and quantitative data collections and analyses. Key informants in 27 of the dominant retail distributors within 5 Norwegian industries and 50 of their most important suppliers were interviewed.

Findings: The power balance seems to favor the retail distributors. Retail distributors and suppliers tell of somewhat different characteristics pertaining to “best” and “worst” relationships relating to economic-, capability-, and integration-based values as perceived between retail distributors and their suppliers.

Research limitations/implications: The empirical findings indicate the complexity in assessing relationship quality and show a rich basis for further research, thereby contributing to knowledge and insights in characterizing relationship quality when power is asymmetrically distributed between distributors and their suppliers. However, personal interviews may reveal answers at rational, cognitive, and even emotional levels, thus complicating subjective analysis.

Practical implications: The results of the study are important for both researchers and practitioners on both sides of retail distributor–supplier relationships.

Originality/value: This study advances the work on what characterizes relationship quality in asymmetric power business relationships.     

Disintermediation in Business-to-Business Service Channels: Mechanisms and Challenges

Purpose: The aim of this article is to delineate a number of different disintermediation mechanisms within the context of business-to-business (B2B) service channels and to identify the specific challenges associated with adopting these mechanisms.

Methodology: The research was conducted in accordance with abductive reasoning, moving continuously between the empirical world of 4 industrial (B2B) firms and the model world.

Findings: This article delineates a choice of 6 disintermediation mechanisms and their attendant challenges within the context of industrial service channels.

Contribution: The article provides an original conceptualization of disintermediation, which is detached from the traditional understanding of the concept. As such, it constitutes a useful starting point for the development of a formal theory of disintermediation.

Implications for Practice: This article should be useful for practitioners, because it presents various disintermediation options available to industrial firms faced by undesired intermediaries in their industrial service channels.     

Gender,Social Networks,and Entrepreneurial Outcomes in Tanzania

This article presents results of a study that investigates egocentric network differences between female and male entrepreneurs and their entrepreneurial outcomes in Tanzania. Based on a random sample of 272 micro-, small, and medium-size enterprises, the study reveals that female and male entrepreneurs have diverse networks. However, when compared to their male counterparts, female entrepreneurs' strong ties included more kin members. No significant gender difference in the composition of weaker ties was observed, suggesting gender differences in the choice of individuals with whom to have strong ties but not with whom to have weak ties. A significant gender difference in entrepreneurial outcomes at both start up and at the time of research was found, suggesting an antecedent networking behavior influence on performance.     

Non-fully invested derivative-free bond index replication

The problem we address here is the replication of a bond benchmark when only a fraction of the portfolio is invested for the replication. Our methodology is based on a minimization of the tracking error subject to a set of constraints, namely (1) the fraction invested for the replication, (2) a no-short-selling constraint, and (3) a null-active-duration constraint, the last of which may be relaxed. The constraints can also be adapted to accommodate the use of interest rate and bond futures. Our main contribution, however, is our derivative-free approach to replication, which should prove very useful for managing assets when the use of derivatives is prohibited, for instance, by certain investors. We can, thus, still benefit from replicating a traditional investment in a bond index with a fraction of the portfolio according to our risk appetite. The rest of the portfolio can be invested in alpha-portable strategies. An analysis without the use of derivatives over the period from January 1, 2008 to October 3, 2011 shows that with 70–90 % invested for the replication, the annualized ex-ante tracking error can range from 0.41 to 0.07 %. We use principal component analysis to extract the main drivers of the size of the tracking error, namely, the volatility of and the differential between the yields in the objective function’s covariance matrix of spot rates. These results highlight our contribution of a generic and intuitive yet robust approach to bond index replication.     

The impact of international experience on objective and subjective career success in early careers

There is an ongoing debate in the literature on the long-term impact of international work experience on future career success. In this longitudinal study based on university graduates, we compare expatriates (n = 159), repatriates (n = 395) and domestic employees (n = 2697) with regard to their objective and subjective career success during the first five years of their careers. Results from propensity score matching and ordinary least-squares regressions show that expatriates and repatriates have a higher objective career success in terms of monthly wages. We further find a higher subjective career success for expatriates and male repatriates.     

The State of Research on Information Systems Success

Measuring information systems (IS) success is of great interest to both researchers and practitioners. This article examines multidimensional approaches to measuring IS success and explores the current state of IS success research through a literature review and by classifying articles published between 2003 and 2007. Based on a total of 41 academic journal and conference publications, the relevant research carried out is identified, while the research results are categorized, consolidated, and discussed. The results show that the dominant empirical research analyzes the individual impact of a certain type of information system by ascertaining users’ evaluation of it by means of surveys and then applying structural equation modeling. The DeLone and McLean information systems success model is the main theoretical basis of the reviewed empirical studies. This article provides researchers with a comprehensive review and structuring of IS success research. Furthermore, opportunities for additional development are identified and future research directions suggested.     

The impact of international portfolio composition on consumption risk sharing

Recent empirical work has shown that ongoing international financial integration facilitates cross-country consumption risk sharing. These studies typically find that countries with high equity home bias exhibit relatively low international consumption risk sharing. We extend this line of research and demonstrate that it is not only a country's equity home bias that prevents consumption risk sharing. In addition, the composition of a country's foreign asset portfolio plays an important role. Using panel-data regression for a group of OECD countries over the period 1980–2007, we show that foreign investment bias has additional explanatory power for consumption risk sharing.