Retention of latent segments in regression-based marketing models

Product design and marketing mix decisions for segmented markets depend crucially on the correct specification of marketing models used as input to these decisions. With real-world data, the true number of segments in a market is unknown. Current evidence from simulation studies suggests that the accuracy of commonly used criteria for determining the number of segments in a market depends on the usage context, including the type of distribution being used to describe the data, the model specification, and the characteristics of the market. This study investigates via simulation the performance of seven segment retention criteria used with finite mixture regression models for normal data. This is one of the most important analysis contexts in marketing research since regression models are used, for example, in conjoint analysis and market response analysis, yet no previous study in either the marketing or statistics literatures explores the segment retention problem for mixture regression models. The study shows that one criterion, Akaike's Information Criterion (AIC) with a per-parameter penalty factor of 3 (AIC3), is clearly the best criterion to use across a wide variety of model specifications and data configurations, having the highest success rate and producing very low parameter bias. Currently, this criterion is rarely, if ever, used in the marketing literature.     

The theory of pluralism in corporate governance: A conceputal framework and empirical test

The concept of pluralism in corporate governance is stated as an emergent theory. Grounded in the concept of enhancing the input of various stakeholders and lessening the control of managers in corporate governance, the theory is the foundation of proposed legal changes in corporate governance and the board of directors. While more pluralistic control has been conceptually linked to improved social performance of the firm, this proposition is not supported in an empirical investigation.Rick Molz' main area of research is in strategic response to public policy initiatives. He has had articles published inColumbia Journal of World Business, Management International Review, The Journal of Business Research, Long Range Planning, The Journal of Business Strategy, andThe Journal of Business Ethics, as well as chapters and cases in several edited volumes.     

“搜索”淘金潮

“众里寻他千百度，蓦然回首，那人却在灯火阑珊处。“中国排名第一的搜索引擎公司——百度公司的名字取自辛弃疾的千古名篇《青玉案·元夕》。从千年前的寻爱之旅到21世纪的搜索成功之路，百度仅仅走了不到5年的时间。     

Why we should care for future generations now

This article argues that caring for future generations is a legitimate ethical concern that arises from our common humanity. The first section explores several reasons why this extension of concern is appropriate and desirable. The second considers a number of strategies for accomplishing this goal. It is argued that caring for future generations now has a number of ‘win—win’ outcomes. That is, it has positive implications for the well-being of present generations as well.     

Pushing back the frontiers: management control and work intensification under JIT/TQM factory regimes

Drawing on primary and secondary sources the authors argue that the JIT/TQM manufacturing system intensifies work as a result of increased surveillance and monitoring of workers' activities, heightened responsibility and accountability, the harnessing of peer pressure within 'teams' and via 'customers', and the fostering of 'involvement' in waste elimination and the continuous improvement of the production process.     

More than mere fragments? The use of the Workplace Employment Relations Survey data in HRM research

This paper explores the use of the British Workplace Employment Relations (WERS) survey data in HRM research. While the WERS surveys contain much material of relevance to key debates in the HRM area, there is a prima facie case that there has not been as much WERS-based research in the HRM area as might have been consequently expected. This paper examines why this might be the case, and considers the prospects for the further use of WERS data by HRM researchers. While noting the limits of survey data to address key questions in the area, it suggests that there is a need for a programme of research that builds upon the valuable insights that can be obtained from WERS-based research by the complementary generation of more context-rich information via focused case studies and associated qualitative research.     

Multi-stage purchase decision models: Accommodating response heterogeneity, common demand shocks, and endogeneity using disaggregate data

The most comprehensive models of purchase behavior for frequently purchased supermarket items explain households' purchase incidence decisions (whether to buy), brand choice decisions (what to buy), and purchase quantity decisions (how much to buy). In this study, we develop a three-stage purchase incidence/brand choice/purchase quantity model for household-level data in which all three stages are specified with (i) random coefficient distributions for model covariates and (ii) random effect distributions to account for unobserved factors affecting demand (known as common demand shocks), while also (iii) controlling for the effects of endogeneity on prices. Compared to current state-of-the-art models for multi-stage purchase decisions, the results show improvements in fit and forecasting accuracy when purchase behaviors are modeled with all of these components in combination. Perhaps more importantly, when common demand shocks are ignored, substantial differences in parameter estimates and diagnostic information about consumer behavior are likely (median differences in parameter estimates are 10% and 20% in two product categories), which impact managerial deliberations about price and promotion policies. Further, failure to account for common demand shocks affects the mean and variance of random coefficient distributions in unpredictable directions, which could produce results that encourage managers to pursue inappropriate and costly micro-level product marketing strategies.