A content analysis of ethical policy statements regarding marketing activities

Many large corporations now have written codes of ethics to guide the business/marketing activities of employees. The purpose of this study was to determine the frequency and types of topics which are covered in the ethics policy statements of large U.S. corporations. The results indicated that the topics covered most often (respectively) were: misuse of funds/improper accounting, conflicts of interest, political contributions, and confidential information. It is concluded that in addition to written ethics policy statements, top management should communicate ethical values and demonstrate by example. Robert E. Hite (Ph.D. University of Arkansas) is Associate Professor of Marketing at Kansas State University. His textbook is entitled Managing Salespeople, and his articles have appeared in such journals as the Journal of Advertising Research, Journal of Business Research, Journal of the Academy of Marketing Science, and Industrial Marketing Management. Joseph A. Bellizzi (Ph.D. University of Nebraska) is Associate Professor of Marketing at Kansas State University. He was previously employed by Hilti Fastening systems as a Market Research analyst. His articles have appeared in such journals as the Journal of Business Research, Journal of Advertising Research, and Journal of Retailing. Cynthia Fraser (Ph.D., University of Pennsylvania) is Associate Professor of Marketing at Kansas State University. Her research interests are international marketing and marketing models. Her articles have appeared in such journals as the Journal of Consumer Research and Industrial Marketing Management.     

The growth of the French videotex system and its implications for consumers

The French telecommunications authority (DGT) is embarked on the world's most ambitious effort to make videotex into a mass medium. The decision to distribute terminals (Minitels) free of charge as well as a unique approach to pricing services have generated substantial interest in the French Télétel system. This article describes and analyzes: (a) the reasons why this multibillion dollar gamble was undertaken, (b) the major elements of the French videotex system, (c) various measures of the system's progress to date, (d) the major types of services offered, (e) patterns of consumer use, (f) consumer problems and policy issues associated with the videotex medium, and (g) the prospects of the French videotex system taking hold in other nations.

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Die Entwicklung des französischen Videotextsystems und seine Bedeutung für die Verbraucher

Zusammenfassung Die französische Behörde für Telekommunikation macht im internationalen Vergleich die stärksten Anstrengungen, Videotext zu einem Massenmedium zu machen. Sowohl die Tatsache, daß die Terminals (Minitels) kostenlos zur Verfügung gestellt werden, wie auch die besondere Form der übrigen Preispolitik haben zu einem großen Interesse an dem französischen Télétel-System geführt.Der Beitrag beschreibt (a) die Gründe, aus denen dieses millionenschwere Unterfangen begonnen wurde, analysiert (b) die Elemente des französischen Videotextsystems, behandelt (c) verschiedene Indikatoren zur Erfassung der bisherigen Entwicklung des Systems, nennt (d) die wichtigsten Arten der Angebote, die das System macht, skizziert (e) die Nutzergewohnheiten der Konsumenten, diskutiert (f) Verbraucherprobleme und politische Aspekte, die mit dem neuen Medium verknüpft sind, und prüft schließlich (g), welche Zukunftsaussichten des französischen Videotextsystems auch für andere Länder gelten dürften.

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Robert N. Mayer is an Associate Professor in the Department of Family and Consumer Studies, University of Utah, Salt Lake City, UT 84112, USA.The author wishes to acknowledge the special assistance of Claire Ancelin of the Service de la Prospective et des Etudes Economiques of the Direction Générale des Télécommunications, Montrouge, and of Pierre Noel of the Institut National de l'Audiovisuel, Bry-sur-Marne.     

The CEO and the external environment

This study confirms other studies and public choice microeconomic theory: CEOs spend more time on issues external to their firms in today's volatile business environment.     

Nondiscretionary residential water use: the impact of habits and water‐efficient technologies

Several studies published in the last few decades have demonstrated a low price‐elasticity for residential water use. In particular, it has been shown that there is a quantity of water demanded that remains constant regardless of prices and other economic factors. In this research, we characterise residential water demand based on a Stone‐Geary utility function. This specification is not only theory‐compatible but can also explicitly model a minimum level of consumption not dependent on prices or income. This is described as minimum threshold or nondiscretionary water use. Additionally, the Stone‐Geary framework is used to model the subsistence level of water consumption that is dependent on the temporal evolution of consumer habits and stock of physical capital. The main aim of this study is to analyse the impact of water‐saving habits and water‐efficient technologies on residential water demand, while additionally focusing attention on nondiscretionary uses. This is informed by an empirical application using data from a survey conducted among residents of Brisbane City Council, Australia. The results will be especially useful in the design of water tariffs and other water‐saving policies.     

创业板与纳斯达克的距离

我支持中国的创业板,但中国的创业板并不是纳斯达克.纳斯达克独步全球的秘诀在于,我们的上市标准全球最高.     

Current account deficits in the new member states: Causes and consequences

Rapidly growing and fundamentally sound economies like those of the new EU member states should be able to borrow externally and thereby run large current account deficits for a considerable period of time. They have been doing this for almost a decade and as a result their businesses have been able to invest more and their residents consume more than would have been possible otherwise. That development model is now being tested severely by the current financial crisis. The degree to which they will be able to maintain capital inflows and growth over the next year will have important implications not only for them, but for what is generally considered to be a desirable development model. The world’s overall assessment of the acceptability of, and the need for, a fundamental reform of the current international monetary architecture will also depend critically on what happens in these economies. The views are those of the author and do not necessarily represent the official positions of the UNECE or those of its member states.     

Information search and consideration set formation in a web-based store environment

The research reported here attempts to understand information search and consideration set formation in a web-based choice environment. A conceptual model is used to propose hypotheses that link information search and consideration set formation with two task environment influences that are typical of online settings. A study that simulates information search and consideration set formation in a web-based choice environment is conducted to test the hypotheses. The results offer insights into how the number of available alternatives and the amount of time available may have an effect on search and evaluation in a web-based store. The research has implications for understanding how consumers shop in online stores.     

Corporate Responsibility in Scandinavian Supply Chains

This article examines corporate responsibility in the supply chains of four of the largest Scandinavian multinational corporations – IKEA, Nokia, Novo Nordisk, and StatoilHydro – and offers two key findings. First, these Scandinavian companies have all implemented responsible supply chain practices where suppliers in developing nations, and the communities of these suppliers, are engaged as key stakeholders and treated as partners. Second, these supply chain practices all share the common bond of having honesty and the establishment of trust-based relationships at their foundation. As a result, these Scandinavian companies have developed a “cooperative advantage” in their ability to form successful, long-term partnerships in their respective supply chains.     

The effect of advertising on brand awareness and perceived quality: An empirical investigation using panel data

We use a panel data set that combines annual brand-level advertising expenditures for over three hundred brands with measures of brand awareness and perceived quality from a large-scale consumer survey to study the effect of advertising. Advertising is modeled as a dynamic investment in a brand’s stocks of awareness and perceived quality and we ask how such an investment changes brand awareness and quality perceptions. Our panel data allow us to control for unobserved heterogeneity across brands and to identify the effect of advertising from the time-series variation within brands. They also allow us to account for the endogeneity of advertising through recently developed dynamic panel data estimation techniques. We find that advertising has consistently a significant positive effect on brand awareness but no significant effect on perceived quality.

MODELING THE RECOVERY RATE IN A REDUCED FORM MODEL

This paper provides a model for the recovery rate process in a reduced form model. After default, a firm continues to operate, and the recovery rate is determined by the value of the firm's assets relative to its liabilities. The debt recovers a different magnitude depending upon whether or not the firm enters insolvency and bankruptcy. Although this recovery rate process is similar to that used in a structural model, the reduced form approach is maintained by utilizing information reduction in the sense of Guo, Jarrow, and Zeng. Our model is able to provide analytic expressions for a firm's default intensity, bankruptcy intensity, and zero-coupon bond prices both before and after default.