Salesperson CLV orientation's effect on performance

Previous studies show how strategies based on the customer lifetime value (CLV) can lead to an increase of profitability for a firm. In this context, marketing serves the purpose of maximizing CLV and customer equity (the CLV of current and future customers). For most types of service firms, salespeople are direct participants in implementing the CLV concept. However, prior research does not answer the question of whether or how salesperson CLV orientation can enhance profits. Using data on salespeople in a large Chilean retail bank, this study shows that the effect of salesperson CLV orientation on salesperson performance follows an S-shaped function (which is first convex and then concave). Additionally, data does not support the idea that the optimum level of CLV orientation depends on salesperson customer orientation, salesperson adaptive selling behavior, or salesperson experience (i.e., CLV-oriented behaviors could be effective across a wide range of salespeople). As such, this study addresses an important concern among researchers and managers that is related to how to increase the salesperson performance. The findings of this study suggest that firms need to monitor individual salesperson CLV orientation more closely.     

Parametric estimation of inefficiency in cargo handling in Spanish ports

Port workers services have been usually heavily regulated and reserved exclusively for a special kind of workers, dockworkers, which seems to have been the cause of serious inefficiencies worldwide. During the eighties, law reforms have been introduced to solve this problem. In this paper we analyze and decompose efficiency in cargo handling operations in 19 Spanish ports from 1990 to 1998. The method chosen is that of the parametric estimation of both allocative and technical inefficiency using panel data and a quadratic cost function. Results show that although inefficiency has decreased overall, there has been over utilization of labor regarding capital, and technical inefficiency. This supports the need of further consideration of other aspects including competition.

Sequential Betting Behavior: A Test of Asymmetric Inconsistencies in Group Decision Making

Previous research has shown that individual decision makers tend to bet more than initially planned after experiencing a loss but not after a gain. This research tests whether groups in consensus decision‐making contexts also demonstrate similar asymmetric inconsistencies. Two experiments, one at the individual level and one with three‐person groups, were carried out based on a gambling‐type betting task. Although individuals planned more conservatively than groups regarding their betting behavior after the first outcome, both individuals and groups misestimated their own betting behavior after losses but not after gains. Negative, but not positive, emotional reactions to previous decision outcomes were also misestimated, leading to incorrect predictions of future behavior. Implications for theory and future research are discussed.     

Export Performance of Brazilian States to Mercosul and Non-Mercosul Partners

ABSTRACT

We investigate the role of the trade-weighted real exchange rate and foreign income on the export performance of Brazilian states, differentiating between Mercosur and non-Mercosur partners. The results indicate that state exports are price and income inelastic. There are differences in the influence of the different trade factors between the two groups of partners. One crucial difference is the relevance of the real exchange rate effect for non-Mercosur partners. This might be associated with the existence of specific rules for Mercosur that can overcome the usual effect of relative competitiveness associated with movements in the real exchange rate.     

Brazilian Consumer Preferences for Processed Tomato Packaging Using Conjoint Analysis

Brazil is the largest producer and consumer of processed tomato products in Latin America. However, the consumption preferences related to this product are poorly studied. The aim of this study was to evaluate the influence of certain characteristics of processed tomato product packaging on Brazilian consumer preferences. The revised Personal Involvement Inventory (PII) and conjoint analysis (CA) were applied to 206 consumers in Brazil. Four packaging attributes were evaluated: colour (green, red, and yellow); material (sachets, tin, and brick carton packaging); the presence of additional information; and the presence of “easy-open” devices. The CA technique showed that in general, the Brazilian participants were influenced positively by red brick carton and sachet packaging and by the presence of additional information and a device that facilitated opening the package. The results presented in this study are useful for the food industry to develop packaging and marketing strategies using consumer profiles.     

A No‐Arbitrage Fractional Cointegration Model for Futures and Spot Daily Ranges

The no‐arbitrage relation between futures and spot prices implies an analogous relation between futures and spot daily ranges. The long‐memory features of the range‐based volatility estimators are analyzed, and fractional cointegration is tested in a semi‐parametric framework. In particular, the no‐arbitrage condition is used to derive a long‐run relationship between volatility measures and to justify the use of a fractional vector error correction model (FVECM) to study their dynamic relationship. The out‐of‐sample forecasting superiority of FVECM, with respect to alternative models, is documented. The results highlight the importance of incorporating the long‐run equilibrium in volatilities to obtain better forecasts, given the information content in the volatility of futures prices. © 2011 Wiley Periodicals, Inc. Jrl Fut Mark 33:77–102, 2013     

Digital transformation in maritime ports: analysis and a game theoretic framework

Digitalization is pushing the maritime industry beyond its traditional limits and provides many new opportunities to enhance the productivity, efficiency, and sustainability of logistics. The concept of smart ports, for instance, aims to adopt modern information technologies to enable a better planning and management within and between ports. Strong facilitators of the digitalization are investments into technology and cooperations for promoting information sharing and a better coordination and collaboration, often regarded as a stumbling block in highly competitive environments. Besides many new opportunities, important economic issues and problems arise. We provide an overview of the development and state-of-the-art of digital transformation in modern seaports in order to identify current potentials and barriers. Focusing on the crucial and challenging aspects of coordination and collaboration, we present a conceptual game theoretic framework that allows benefits and cost allocations considering inter-, intra-, and meta-organizational perspectives. We further demonstrate how this framework can be used to develop tools and methods for supporting strategic decision making for driving the digital transformation in seaports and addressing new economic issues and problems.     

Joan Robinson on Population Growth

Joan Robinson’s views on population growth have received scant attention. The aim of this article is to summarize and evaluate aspects of Robinson’s perspectives on population. The population question is considered in terms of four specific topics: the problem of growth, the labor market, effective demand and economic development. The article also interprets Robinson’s approach in light of the endogenous theory of economic growth in order to more explicitly elucidate Robinson’s own statements. It is concluded that an economic interpretation of population growth based on Robinson’s approach requires some specific adaptations if it is to be feasible. It is hoped that this line of approach is useful to scholars of the history of economic thought, economic development or theory of economic growth.     

Optimal exploration investments under price and geological‐technical uncertainty: a real options model

This article develops a real options model for valuing natural resource exploration investments (e.g. oil or copper) when there is joint price and geological‐technical uncertainty. After a successful several‐stage exploration phase, there is a development investment and an extraction phase. All phases are optimized contingent on price and geological‐technical uncertainty.
Several real options are considered. There are flexible investment schedules for all exploration stages and a timing option for the development investment. Once the mine is developed, there are closure, opening and abandonment options for the extraction phase. Our model maintains a relatively simple valuation structure by collapsing price and geological‐technical uncertainty into a one‐factor model.
We apply the model to a copper exploration prospect and find that a significant fraction of total project value is due to the operational, development and exploration options available to project managers.     

Institutional Constraints,Stakeholder Pressure and Corporate Environmental Reporting Policies

Within the theoretical framework of socio‐political economics, and more specifically of stakeholder theory, this work examines whether companies operating under different institutional constraints and stakeholder pressure tend to emphasize different models of corporate environmental reporting. Furthermore, the paper tests whether different corporate environmental reporting policies are driven by the countries' corporate governance systems. A sample of 3931 international companies was examined through a logistic biplot and conditional mean linear regression models. The main results reveal that companies follow two distinct environmental reporting approaches, which depend on specific stakeholders and institutional requirements. The first model, which is followed by firms within codified law countries, mostly focuses on water and emissions. The second approach, mainly followed by companies operating in common law countries, emphasizes materials and energy issues. This finding reveals that companies gradually modify their environmental strategies to make themselves more compatible with the characteristics of the social and institutional environment, which will result in several corporate benefits. The paper provides several outstanding implications for companies' strategic managers, national institutions and firms' stakeholders, especially for investors and customers. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment