Effects of Advice on Auditor Whistleblowing Propensity: Do Advice Source and Advisor Reassurance Matter?

Journal of Business Ethics - We conduct an experiment to investigate the joint effects of advisor reassurance and advice source in enhancing the impact of advice on auditors’ whistleblowing...     

What's Behind CRM Research? A Bibliometric Analysis of Publications in the CRM Research Field

The diversity of approaches to customer relationship management (CRM) brings about the need for systematic reviews. The objective of this article is to identify and categorize the most used publications in the CRM field. We conducted a bibliometric analysis using the Web of Science database. To identify and categorize the subfields, we conducted an exploratory factor analysis. The most used publications were categorized into: (1) methodology in the CRM research field; (2) relationship marketing; (3) service quality and customer loyalty; (4) implications of market-oriented strategy; (5) CRM theory and its practical implications; (6) strategic management; and (7) customer value.     

Volume, volatility, and the dispersion of beliefs

I examine a two-period noisy rational expectations model ofa futures market and show that the dispersion of expectationsabout a weighted average of future prices measures both theadditional volatility and the additional expected volume oftrade associated with noisy information. The role played bydispersion helps clarify several stylized facts concerning volumeand price behavior. Specifically, dispersion can be a factorcontributing to the positive correlation between volume andabsolute price changes, and the positive correlation betweenconsecutive absolute price changes.     

Welfare effects of insurance contract non-performance

Non-performance lies at the heart of much of the regulation that insurance companies face. Consumers’ concerns about non-performance of the insurance provider have also been cited as a possible explanation for low demand of microinsurance. We provide a behavioral evaluation of the welfare effects of non-performance risk. We test the hypothesis that the presence of non-performance risk negatively impacts not just take-up of insurance but more importantly the welfare of the insured. We also test if violations of the reduction of compound lotteries axiom could drive this decrease in take-up and welfare. The results show that the compound risk characteristic of non-performance risk does not significantly decrease the welfare of insurance choices made by individuals. This counter-intuitive result is sensitive to the structural modeling of risk preferences. If one assumes the reduction of compound lotteries axiom does characterize behavior towards risk, one finds evidence that non-performance risk reduces welfare for the insured. But if one correctly allows for violations in that axiom in the representation of risk preferences, which is appropriate if one is going to test for the effect of compound risk from non-performance, then the counter-intuitive result is obtained. Take-up is not a reliable proxy for welfare, and the behavioral drivers of take-up are again not the same drivers of welfare. These results provide structural behavioral insight to inform normative policy design with respect to insurance regulation.     

Correlations in price changes and volatility across international stock markets

The short-run interdependence of prices and price volatilityacross three major international stock market is studied. Dailyopening and closing prices of major stock indexes for the Tokyo,London, and New York stock markets are examined. The analysisutilizes the autoregressive conditionally heteroskedastic (ARCH)family of statistical models to explore these pricing relationship.Evidence of price volatility spillovers from New York to Tokyo,London to Tokyo, and New York to London is observed, but noprice volatility spillover effects in other directions are foundfor the pre-October 1987 period.     

Environmental and Economic Dimensions of Sustainability and Price Effects on Consumer Responses

The lack of attention to sustainability, as a concept with multiple dimensions, has presented a developmental gap in green marketing literature, sustainability, and marketing literature for decades. Based on the established premise of customer–corporate (C–C) identification, in which consumers respond favorably to companies with corporate social responsibility initiatives that they identify with, we propose that consumers would respond similarly to companies with sustainability initiatives. We postulate that consumers care about protecting and preserving favorable economic environments (an economic dimension of sustainability) as much as they care about natural environments. Thus, we investigate how two sustainability dimensions (i.e., environmental and economic) and price can influence consumer responses. Using an experimental method, we demonstrate that consumers favor sustainability in both dimensions by giving positive evaluations of the company and purchase intent. In addition, consumers respond more negatively to poor company sustainability than to high company sustainability. In comparison, consumers respond more negatively to the company’s poor commitment to caring for the environment than to the company’s poor commitment to economic sustainability. We also find that consumers do not respond favorably to low prices when they have information about the firm’s poor environmental sustainability. Finally, we find support for an interaction effect between consumer support for sustainability and corporate sustainability; that is, consumers evaluate a company more favorably if the company shares the consumers’ social causes. Overall, we conclude, from our empirical study, support for the idea that consumers do respond to multiple dimensions of sustainability.     

Factors That Distinguish Proactive Versus Reactive Exporters: Decisions by Export Firms in a Developing Country

This study explored factors that distinguish proactive versus reactive export marketing strategies of Zimbabwean export companies. It identified key variables that contributed most to the discrimination between proactive firms with high levels of adaptation of export marketing strategy against reactive exporters with low levels of adaptation of export marketing strategy. Data were collected through a structured multi-item questionnaire involving a randomly selected sample of 105 exporting organizations. The overseas experience of management and strategic orientation of the company, cultural values, and legislation were found as key variables that discriminated between reactive exporting firms using low adaptation of export marketing strategy from those proactive exporters with high adaptations.     

Integration Among Asia‐Pacific and International Stock Markets: Common Stochastic Trends and Regime Shifts

Are stock markets in the Asia‐Pacific region integrated with each other and with the US and Japan? The paper examines a number of common stochastic trends among stock prices in the US, Japan, Hong Kong, Korea, Singapore, Taiwan and Thailand. If integration exists it is a fairly recent phenomenon. Institutional and economic considerations suggest the same is true so that a single common stochastic trend among Asian and North American markets is a recent phenomenon. The reason is that the stock markets studied were only recently sufficiently liberalized to permit some form of integration to emerge. Also, not only was the 1987 stock market crash significant, but the 1991 Gulf War also signalled a turning point in the degree of stock market integration among the countries studied.