Heading the Right Way? The Influence of Motion Direction in Advertising on Brand Trust

Integrating research on visual marketing, spatial associations, and brand inferences, the authors conduct four studies demonstrating that when consumers see an ad featuring an object moving in a left-to-right, rather than a right-to-left, direction, their trust toward the featured brand increases. This effect is mediated by an enhanced sense of “feeling right” resulting from the fit between how Western consumers are accustomed to envisioning action and information unfolding (from left to right), and the direction of implied motion in the ad. The authors identify stereotypical gender associations of the brand as a theoretically relevant moderator, such that the favorable influence of a left-to-right motion direction on brand trust is enhanced when the advertised product is strongly (versus weakly) associated with masculine characteristics.     

Bank lending channel of monetary policy： Evidence for Colombia,using a firms＇ panel data

In this paper we find empirical evidence of bank lending channel for Colombia, using a balanced panel data of about four thousand non-financial firms. We find that increases in the interest rate, proxiing for the monetary policy instrument, lead to a reduction in the proportion of bank loans, out of total debt, of the firms. This bank lending channel amplifies the effect of the traditional interest rate channel, which leads to a reduction in total debt and spending when monetary policy tightens. Our evidence suggests that firm size matters in the transmission of monetary policy through the bank lending channel： Smaller firms have a higher probability of being credit rationed after a tightening of monetary policy than （otherwise identical） larger firms.     

Separability and Aggregate Shocks in the Life-cycle Model of Consumption: Evidence from Spain

The purpose of this paper is to test the life-cycle permanent income hypothesis using an unbalanced panel from the Spanish family expenditure survey. Our model accounts for aggregate shocks and non-separability in the Euler equation among consumption goods, contrary to most of the literature in this area. Our results do not indicate excess sensitivity of consumption growth to income.     

The role of permanent and transitory components in the fluctuations of Latin–American real exchange rates

Following the approach suggested by Engel and Kim (1999 Engel, C. 1999. Accounting for U.S. real exchange rates changes. Journal of Political Economy, 107: 507–38. [Crossref], [Web of Science ®] , [Google Scholar]), we estimate the permanent and transitory components of the real exchange rates in four Latin–American countries for the period 1957:01 to 2002:04. Results suggest that transitory component is the driving force of the real exchange rates in Argentina and Mexico. A principal role of the permanent component is observed in the real exchange rates of Brazil and Chile. Estimates probabilities of the high-variance regime allow to identify the principal events happened in these countries. This information is closely related to nominal shocks and therefore, it explains the significant role of this component in these countries.     

Organizational Culture, Individual Differences and the Participation System in Cooperativism of Associated Workers in Andalusia, Spain

From a psychosocial perspective, we have attempted to identify the characteristics of the democratic systems of a sample of 36 Andalusian cooperatives of associated workers. In this study it has become evident that those who participate the least in the governments of their organizations are the workers and those with less education. Thus, there is a high degree of association between participation in the governing of the cooperative and the development within it of an appropriate organizational culture. The results of this study have allowed us to empirically deconstruct the concept of cooperative democracy, and this process may have an effect on the improvement of human resource administration in this type of organization.     

Explaining divorce rate determinants: new evidence from Spain

This article examines the main determinants of divorce rates in Spain for the period 1995 to 2010. According to the results, the so-called Express Divorce Law (passed in 2005) seems to be positively associated with divorce rates in the short term. Income level and growth, female employment rate, and the proportion of foreign population are also positively related to divorce rates. However, as expected, the percentage of conservative vote seems to have a negative impact.