Competitive reaction- and feedback effects based on VARX models of pooled store data

We apply a model that accommodates dynamic phenomena in demand- and reaction functions. The latter functions capture reactions to actions as well as to consequences of actions. We estimate a fixed effects VARX model with dynamic and interactive effects for multiple brands based on pooled time series and cross-sectional data for two product categories. The Impulse Response Analysis (IRA) results for one category (tuna) under different scenarios show that the inclusion/exclusion of competitive reaction- and feedback effects matters a lot, consistent with a high degree of competitive interaction in this market. We find that the role of cross-brand feedback effects is greater than the role of traditional competitive reaction effects. Intrafirm effects (internal decisions) also play an important role. In a decomposition study we show that the exclusion of these effects may either increase (up to 12%) or decrease (by as much as 50%) the net unit sales effect of a 20% price reduction. By contrast, in the second category (shampoo), where brands have distinct positions, the exclusion of these effects matters very little.     

Organizational values,work norms,and relational role behaviours: an empirical retail assessment

We apply the relationship-marketing concept to a retail setting in order to determine if customer-contact employees' relational role behaviours (RRBs) (consisting of both trust-building and attachment behaviours) have organizationally influenced antecedents. Using organizational culture and value–norm–behaviour linkage, we posit that organizational values (consisting of customer orientation, employee orientation, and financial orientation) influence work norms for customer retention (solidarity and role integrity) and, ultimately, RRBs. Hypotheses and a model which illustrates the relationships between the constructs are presented. A study is conducted in a US regional drugstore chain (n=246). LISREL is used to analyse the results. Six out of eight hypotheses are supported. The findings are discussed as well as managerial implications, limitations, and future research directions.     

The effect of differences in the number of attribute levels on conjoint results

It is well known that the range of attribute variation used in a conjoint design influences the inferred attribute importance. However, even if the range is held constant, the addition of intermediate levels can increase this importance. In this paper we show why the problem occurs for rankorder preferences. The results from an experimental study confirm the existence of a systematic influence due to the number of (intermediate) levels. Surprisingly, the problem is equally strong when rating scale preferences are collected. Several possible solutions are suggested.     

Policy Making on Reserves of Dutch University Hospitals: A Case Study

Organizations in the health care sector are increasingly managed and judged on the basis of economic criteria. Because they are faced with growing risks, reserves need to be sufficiently high. This paper entails a case study on policy making regarding reserves in a particular segment of the Dutch health care sector, i.e. university hospitals. After describing the various major risks of health care organizations, the three stages of the case study will be presented. First, we developed, in collaboration with experts from the university hospitals, a model for establishing sufficient reserves. Second, an advisory committee of the Dutch government formulated guidelines for policy making on this issue. Finally, after the recommendations of this committee became the basis for policy making on reserves, we examined the changes in the actual reserve policy of the university hospitals. The way in which health care organizations can cope with their perceived risks by establishing sufficient reserves or by taking other actions is hardly covered in the literature on public sector or not–for–profit organizations. This paper endeavours to raise relevant questions and to suggest preliminary answers by describing and critically appraising a case study on this subject.     

Mortgage Default in Local Markets

Using recent theoretical advances and an extensive panel data set on metropolitan areas, this study provides new tests of the contingent claims based model of default. The empirical modeling incorporates a full complement of variables that permit direct tests of the options-based model including the conditional effects of age and rent-to-price ratios. The role of transaction costs and trigger events is examined, and the results confirm the importance of both. The effects of aggregation and short sample periods are explored and demonstrated to affect inference in studies of mortgage default.     

The relationship between government accounts and national accounts, with special reference to the netherlands

National accounts are a macro-economic accounting system that is compiled on the basis of a globally harmonized accounting standard, that is SNA93/ESA95. To a large extent, the SNA93/ESA95 accounting principles are also suitable for government (micro-)accounting purposes, if only because the accounts drawn up according to this standard are comparable across (types of) units and over time. That facilitates performance monitoring and benchmarking. In addition, the ESA95 guidelines and procedures deal with innovative transactions and accounting, which increases the credibility of the accounts. Finally, accounts for government units are then directly comparable with the macroeconomic accounts, which facilitates the link between forecasts for the national economy and drawing up government budgets. This paper also describes the present conversion of government accounts to national accounts for the government sector in the Netherlands and the plans of the Dutch government to change from a cash-based to an accrual government accounting system.