Testing a method to estimate county-level demand for educational attainment

Recent changes in federal support for local workforce training programs have created an increased need for methods of assessing demand for educational attainment in sub-state regions. This research extends current non-survey methods for estimating demand for educational attainment at the county level. It then evaluates the non-survey method on theoretical grounds, and compares survey and non-survey estimates for two West Virginia counties. We found significant differences between survey and non-survey results and conclude that current non-survey methodology will not consistently provide reasonably accurate estimates. We thus propose adjustments to this methodology that should improve its accuracy. Many, if not most, jurisdictions do not have the expertise or funds to carry out periodic employment surveys. Many local policymakers would therefore benefit from development of an inexpensive, straightforward non-survey methodology that provides reasonably accurate information on local employer demand for labor force characteristics such as educational attainment.     

GRAS versus minimizing absolute and squared differences: a comment

Junius and Oosterhaven (2003) Junius, T. and Oosterhaven, J. 2003. The solution of updating or regionalizing a matrix with both positive and negative entries. Economic Systems Research, 15: 87–96. [Taylor & Francis Online] [Google Scholar] developed the GRAS algorithm that minimizes the information gain when updating input–output tables with both positive and negative signs. Jackson and Murray (2004) Jackson, R. W. and Murray, A. T. 2004. Alternative input–output matrix updating formulations. Economic Systems Research, 16: 135–148. [Taylor & Francis Online] [Google Scholar], however, claim that minimizing squared differences in coefficients produces a smaller information gain, which is theoretically impossible. In this comment, calculation errors are sorted out from differences in measures, and it is shown that the information gain needs to be taken in absolute terms when increasing and decreasing cell values occur together. The numerical results show that GRAS outperforms both sign-preserving alternatives in all but one comparison of lesser economic importance. Moreover, as opposed to the result of Jackson and Murray, they show that minimizing absolute differences consistently outperforms minimizing squared differences, which overweighs large errors in small coefficients.     

Comparison of Option Prices in Semimartingale Models

In this paper we generalize the recent comparison results of El Karoui et al. (Math Finance 8:93–126, 1998), Bellamy and Jeanblanc (Finance Stoch 4:209–222, 2000) and Gushchin and Mordecki (Proc Steklov Inst Math 237:73–113, 2002) to d-dimensional exponential semimartingales. Our main result gives sufficient conditions for the comparison of European options with respect to martingale pricing measures. The comparison is with respect to convex and also with respect to directionally convex functions. Sufficient conditions for these orderings are formulated in terms of the predictable characteristics of the stochastic logarithm of the stock price processes. As examples we discuss the comparison of exponential semimartingales to multivariate diffusion processes, to stochastic volatility models, to Lévy processes, and to diffusions with jumps. We obtain extensions of several recent results on nontrivial price intervals. A crucial property in this approach is the propagation of convexity property. We develop a new approach to establish this property for several further examples of univariate and multivariate processes.     

Formal governance mechanisms, relational governance mechanisms, and transaction-specific investments in supplier-manufacturer relationships

This study addresses the question of how to design governance mechanisms so that local suppliers are encouraged to make transaction-specific investments in foreign manufacturing firms. Suppliers' transaction-specific investments can increase the efficiency of production for foreign manufacturing firms operating in a host country. However, it can be difficult to induce suppliers to make specialized investments, because of the numerous hazards associated with such investments. Basing its conclusions on the results of a survey of Taiwanese firms using Chinese suppliers, this study examines the effectiveness of both formal governance mechanisms (i.e., contractual agreements and financial commitments) and relational governance mechanisms (i.e., calculative and benevolent trust) in inducing suppliers to make specialized investments. We find that both formal governance and relational governance mechanisms affect suppliers' tendencies to make specialized investments. Additionally, we find that calculative trust acts as a moderating factor in the relationship between formal governance mechanisms and transaction-specific investments.     

The ABC's of ACB: Unveiling a clear and present danger in the sales force

While anti-citizenship behavior (ACB) is under-researched across all academic domains, sales and marketing researchers have not done any work in the area. This oversight is significant given recent survey data that suggests sales representatives are misbehaving at an alarming rate; 60% of sales managers have caught their reps cheating on expense reports (an example of ACB) and 36% believe such behavior has gotten worse over the past several years. Directed towards the goal of understanding salesperson ACB, this research provides the first conceptual model of ACB in the sales force. The model contends that characteristics of the organization (justice and intra-firm competition) and contextual factors (fit and job stress) directly affect the performance of ACB while individual level factors (locus of control, self-monitoring and introversion) moderate the performance of these behaviors. In addition, this research explains the intra- and inter-organizational consequences of salesperson ACB and suggests several ways by which managers can address this issue.     

Conceptualization and measurement of relationship quality: Linking relationship quality to actual sales and recommendation intention

Following over a decade of relationship marketing, this paper re-visits the notion of relationship quality to determine relational drivers of account profitability. Customer executives from multiple industries are interviewed to identify critical success factors in buyer-seller relationships. Based on their responses, a “back-to-the-basics,” grass roots approach to the measurement of relationship quality is offered. To further demonstrate its value for marketing practice, this measure of relationship quality is administered to a nationwide sample of key customer decision-makers to determine its link to profitable outcomes. The results support this measure as a driver of actual sales and recommendation intention.     

A relationship-management assessment tool: Questioning, identifying, and prioritizing critical aspects of customer relationships

With customer-relationship management (CRM) no longer a buzzword among trendsetters, organizations in all types of industries initially rushed to embrace it. Although a seductively attractive concept, the implementation of CRM proved difficult, however, and organizations are struggling with realizing their vision of a CRM organization. To help managers assessing the stage of relationships between their organization and the organization's business customers we consider the automotive industry. Based upon our case organization and its relationships with numerous business customers we develop a practical tool to question, identify, and prioritize critical aspects of customer-relationship management. First, we identify key areas in CRM. Secondly, we investigate how the chosen case organization has managed each of these key CRM areas over a broad range of business-customer relationships. Thirdly, we acknowledge that many organizations simultaneously have different types (transaction-relationship continuum) of business customers. We finish the article with a discussion of the study's limitations, and suggest avenues for future research.     

New product development in Asia: An introduction to the special issue

Given the increasing importance of Asia, the purpose of this special issue is to broaden the scope of our understanding of New Product Development (NPD) by going beyond the traditional Western research settings and looking at how new products are developed in Asia. This paper introduces the special issue on NPD in Asia and identifies key patterns of similarities and differences between Asian and Western NPD practices. The paper highlights key similarities and differences in the areas of organizational/top management support; technological proficiency; customer/market orientation; information sharing; cross-functional interface; entrepreneurship orientation; NPD strategies; innovation orientation; contingencies of innovation orientation; innovative marketing strategies; NPD process; appointment of project managers; rewarding team members; success rate; and cycle time.     

Driving-market or market-driven? A case study analysis of the new product development practices of Chinese business-to-business firms

Our current understanding of NPD processes among Chinese firms is limited. Early evidence suggests that the drivers of new product success in the PRC might be different to those in the West. Much of the more recent (Western) literature implicitly identifies the importance of both driving-market and market-driven approaches to NPD success, although what this translates into in practice is less clear. Drawing on multiple case studies, we identify four types of NPD practice in Chinese B2B firms and explore the reasons for variation in performance between the four. Critically, the most successful firms were found to be those characterised by a driving-market approach, rather than those relying solely on relationships and reacting to changing market phenomena.