Nigerian SMEs: Commitment and loyalty to their banks

Commitment has a crucial role to play in underpinning long-term business relationships, and as such, is well established in the related academic literature. Limited research does, however, exist pertaining to the specific relationships between SMEs and their banks. This paper presents and assesses commitment relationship framework that seeks to evaluate such relationships. Various validated scale-sets from the existing studies are combined here to assess commitment, advocacy and repurchase intention. Data were collected from 199 SMEs via interviews with owners or senior (financial) managers. Their assessment involved exploratory factor analysis to determine underlying data structure, with internal reliability assessment of the identified factors. Commitment is established around two components; affective and calculative, whilst advocacy and repurchase intention converge into a single behavioural intentions factor. The two-dimensional presentation of commitment and behavioural intentions are also distinct. Originality lies in the validation of commitment and behavioural intention constructs within this specific business arena and geographical location, as well as showcasing research that involves engagement with smaller organisations rather than their larger counterparts in the consideration of bank performance.     

Coming to Terms with London: Middle‐class Communities in a Global City

In this article we contrast the experience of middle‐class life in two areas of South London. We hypothesize that different sections of the middle class will live in different areas. Whilst these differences partly reflect economic capabilities and occupational divisions (such as public versus private employment sector, professionals versus managers), we suggest these divisions are becoming more complex. We develop a threefold model based on the work of Savage et al. (1992) and hypothesize that each group will tend to live in different and distinct areas of the city. In our comparison of two areas in which we have completed fieldwork (Telegraph Hill and Brixton), we are able to show very different accommodations to metropolitan life which provides initial support for our hypothesis. We characterize middle‐class life in Brixton as being essentially unstable, which is largely compensated for by the frisson of living in a cosmopolitan and mixed area. Telegraph Hill is a more stable area, with residents building a long‐term relationship with the area and forming substantial social networks with other residents; it, however, lacks the cultural infrastructure of Brixton. We argue that ‘circuits of education’ are of prime importance for middle‐class families living in London: in comparison to Brixton, our respondents in Telegraph Hill have developed sophisticated educational strategies which have enabled them to come to terms with living in London. Cet article compare la vie des classes moyennes dans deux quartiers du sud de Londres. Par hypothèse, il considère qu'au sein de ces classes, des catégories différentes vivront dans des quartiers différents. Si ces divergences traduisent en partie des capacités financières et des disparités professionnelles (ex.: entre secteur public et secteur privé, professions libérales et cadres), elles se font aussi plus complexes. L'article présente un modèle en trois parties basé sur le travail de Savage et al. (1992), en présumant que chaque groupe aura tendance à vivre dans un quartier spécifique de la ville. En opposant deux zones où le travail sur le terrain est terminé (Telegraph Hill et Brixton), il est possible de montrer des adaptations très variées à la vie métropolitaine, celles‐ci offrant une première contribution à l'hypothèse de l'étude. La vie des classes moyennes à Brixton peut se définir comme étant essentiellement instable, caractéristique largement compensée par le frisson d'une existence dans un quartier hétéroclite et cosmopolite. Telegraph Hill est une zone plus stable, les résidents établissant un lien durable avec le quartier et constituant entre eux de solides réseaux sociaux; il lui manque toutefois l'infrastructure culturelle de Brixton. L'article expose que les ‘circuits éducatifs’ sont primordiaux pour les familles des classes moyennes vivant à Londres: par comparaison à Brixton, les résidents de Telegraph Hill ont mis au point des stratégies d'éducation élaborées qui leur ont permis de s'accommoder de la vie londonienne.     

A value-in-process analysis of relationship interactions in non-equity alliances

In the domain of relationship marketing, there is an increasing need for greater understanding of ‘value’ in the process of social exchange interactions. We present a framework for analysis of value creation through these interactions. Two types of value creating interaction are identified, asset specific investment and technical exchange. Taking a series of 197 project-based, non-equity alliances between architects and building contractors, we examine value creation through these interactions. The findings establish that value in the relationship process is co-created and that this occurs through an iterative investment in specific assets at the operational level throughout the alliance. Additionally, the exchange of technical information at the operational level is found to be a source of value for the relationship and has iterative and co-creational characteristics similar to investment in specific assets. We provide an explanation for the relationship between these interaction types and relational value. We also find that goodwill trust's positive relationship with the asset specific investment interaction type is stronger in low, rather than high, operational compatibility partnerships. The implications for researchers and managers are explored and study limitations acknowledged.     

Government advice networks for SMEs: an assessment of the influence of local context on Business Link use,impact and satisfaction

Business Link in Britain is one of the main recent government initiatives to support SMEs in the EU. The paper uses a 1997 survey of SMEs to determine how Business Link use, impact and satisfaction are influenced by firm characteristics, local partnership characteristics, local geographical context, service intensity and other explanatory variables. The paper presents econometric estimates based on logit and ordered logit models. A key finding of the paper is to demonstrate that local context is not very significant to service use, impact or satisfaction, but local Business Link management and adviser performance are important influences on the impact and satisfaction. Major differences in the way SMEs use government-backed services are also found. There are high volumes of use of ‘gateway’ information services producing only low impact, and low volumes but high impacts and satisfaction with intensive advice services governed by contracts between the clients and the adviser. Implications for the Small Business Service, launched in April 2000, are drawn.     

Naive Adaptive Behavior and the Observability of Gambles

This paper considers a class of naive adaptive learning rules in a social setting. They generalize biological selection and have become relevant in economic theory as a consequence of their use in evolutionary game models. The environment considered here is nonstrategic but includes gambles which are more or less completely observed in each period. In the long run, individuals are more averse to a gamble which is less observable, other things being equal, and may violate first-order stochastic dominance. Thus these rules need not be consistent with rational behavior in the usual sense.Journal of Economic LiteratureClassification Numbers: D83, C72.     

Consumer choice for hearing aids and listening devices: newspaper advertisements for UK private sector provision

In the UK there can be several ways to access health care and this is true of hearing aid provision. Although there may appear to be a well‐defined distinction between the National Health Service (NHS) and independent dispenser hearing aid provision, there have been many examples of overlap between the two and recent government policy initiatives mean that distinctions have become less clear. This article outlines the changing relationship between the two sectors and the problems that potential consumers face accessing information on private sector options for amplification devices. A 1‐year sample of newspaper advertisements was content‐analysed for clarity of information provided. The analysis highlighted a range of provision, from well‐known hearing aid dispensers to the greyer areas of listening device retailers and intermediary services. Some advertisements were found to have been reported to the Advertising Standards Authority. Sufficiently misleading adverts may also infringe consumer protection legislation. The article concludes there is the possibility of consumer confusion about products and their potential for amelioration.     

经济衰退如何影响了美国人的消费行为

金融危机打断并阻碍中国经济转型。2008年的国际金融危机造成世界经济衰退，严重打击了出口导向型经济，造成出口部门萎缩、就业岗位减少、失业率提高、工资增长率降低，打断了中国经济正在经历的转型。     

Unravelling the facts about job generation

The purpose of this paper is to provide some new and useful perspectives to assist our understanding of the job creation process; especially of the relative capacities of small and large firms to create jobs.Through an initial discussion of components of change analysis, it is shown that (dynamic) job change can often be attributed to (static) size cohorts of firms in an illogical fashion. Also, change which results from firms oscillating in and out of neighbouring size cohorts has continued to be confused with shifts in employment levels which are of a long term nature.Job generation analysis has tended to ignore the role of the stable firm. However, both small and large firms, which tend to exhibit low levels of internal job change, are performing a fundamental and important task in terms of simply sustaining jobs.In the author's opinion, traditional methodologies used to investigate job creation in any economy have tended to distort our understanding of job creation and loss. Recommendations for alternatives, especially those which incorporate a temporal element into the job variable, are put forward.     

The reluctant Hong Kong consumer: purchasing travel online

Hong Kong consumers have embraced the web but appear reluctant to buy airline tickets online, suggesting that perceptions of risk outweigh perceived convenience. In this study we identify that both risk and convenience factors are associated strongly with willingness to purchase, particularly privacy, security and poor customer service, time savings, site usability and information provision. We identify further that the experienced shopper is only moderately satisfied and that satisfaction appears to be associated strongly with willingness to make further purchases. Overall, findings suggest that although consumers recognize a number of benefits, there is deep‐rooted resistance to buying this particular product online. The explanation may lie in a combination of the physical density of the Hong Kong market, love of the whole shopping experience and a desire to minimize risk. We conclude that to tempt consumers online airlines and agents must target the Hong Kong market with a clear value proposition which includes user‐friendly sites, streamlined payment procedures, on‐ and offline customer support, price‐related promotions and tailored offline services which reinforce online offerings.