Spectral Analysis of Advertising-Sales Interaction: An Illustration

Abstract

Cross-spectral analysis is recognized as a powerful analytical tool for the analysis of time-varying behavior in a number of disciplines. Applications in business have been limited, however, and the potential usefulness of this new approach to time series analysis has received relatively little attention in advertising. The purpose of this paper is to explain cross-spectral analysis and illustrate the use of this new technique in studying the interaction between advertising and sales.     

Effects of firm owenership structure on hiring of M&A advisors

This study tests the hypothesis that certification is an important service performed by M&A (merger and acquisition) advisors. It conducts an empirical investigation of the relationship between corporate ownership and the decision to hire an advisor. It demonstrates that ownership by institutional investors increases the propensity of firms to hire advisors in merger and acquisition transactions. The effect is (1) nonlinear in institutional investor percentage ownership, (2) greater for the selling firm than for the buyer, and (3) stronger where control is changing than where significant assets are being bought and sold. Confirmation of the certification hypothesis is also found in the decision to hire a prestigious advisor given that an advisor is to be hired.     

On the commercialization of accountancy thesis: A review essay

Hanlon's thesis on the commercialisation of accountancy is examined in relation to contemporary changes in the organization of work and the concentration and Intelnationalization of the accounting industry. Attention is drawn to the tensions between Hanlon's empirical materials and his exegesis of theoretical debates. An appreciation of the value of his book for highlighting the wider significance of accounting to a shift from Fordist to more flexible forms of accumulation is balanced by a discussion of various limitations. These include the neglect of non-audit business undertaken by accounting firms, and the sketchy treatment of the links between these firms and other key players that have supported and legitimised the progressive commercialization of accountancy.     

Tourism and Aldo Leopold's “cultural harvest”: creating virtuous tourists as agents of sustainability

Sustainable tourism aims to achieve a balance between the needs of tourists, the environment, local people, and businesses – a situation complicated by the numerous ethical issues at play. This paper presents an original account of the ethics of Aldo Leopold (1887–1948), a key figure in the development of modern environmental ethics, as it unfolds in his classic work, A Sand County Almanac. We argue that prior interpretations failed to incorporate Leopold's lynchpin cultural harvest idea into his larger “land ethic”, and that a proper understanding of the cultural harvest reveals how tourism and other recreational activities can drive a person's ethical development. Ultimately, the land ethic helps us protect and nurture the most precious sustainability resource: human beings that value and respect the environment. The paper will be of value to tourism scholars, to heritage interpreters, to travel journalists, to tourism marketing staff, and to tourism managers. It shows the enormous opportunities for better marketing and heritage interpretation, notes the potential value of slow tourism, and the need for opening five key areas of the cultural harvest for tourists: storytelling, learning and knowledge, beauty and aesthetic appreciation, rarity and the hunt for trophy, and signature/personality.     

Identification of house price bubbles using user cost in a state space model

This article studies how much variation in house prices results from nonfundamental factors. We propose a relative valuation approach to quantifying a bubble in housing by incorporating the housing User Cost into a state space model. We find that UK house prices were undervalued from January 1995 to May 2001 and subsequently moved into a bubble over the period to October 2012. Our results support the bounded rationality hypothesis in the long run. However, we also find that the irrational and the rational expectation hypotheses can coexist in the short run when explosive bubbles are driven by price dynamics.     

A service sector classification scheme using economic data

Using economic data, this paper recreates a previously published service industry classification scheme that was derived using discursive data from interviews with industry experts. It triangulates the earlier results using a different methodology, and extends earlier classification schemes in a comprehensive, objective way. A principal component analysis of six sector parameter sets from a regression analysis of a productivity data set covering 14 countries produces three sector factors, the ‘capital type’, the ‘innovation type’ and the ‘quality type’, which form the basis of the classification scheme. A high degree of conformity is found between this and the previously published discursive-based scheme.     

The management of expatriates: messages from Europe?

Much of our knowledge of expatriation and the processes of managing expatriates comes from North American researchers analysing the policies and practices of North American multinational corporations. This article uses that base of understanding, but argues that there has been an increasing stream of research into IHRM in Europe, which remains largely “invisible” to the North American specialists. Given the paucity of research in the area in general and the need for a more international understanding which can arise from examining different contexts, the article suggests that commentators outside Europe may find useful insights in the European analyses.     

The failure of ‘nationalization by attraction’: Britain's cross‐class alliance against earnings‐related pensions in the 1950s1

In 1957, the Labour Party published radical proposals for a state earnings‐related pension scheme (‘national superannuation’) whose funds were to be invested in stock markets to generate high returns, and to help modernize and dynamize the British economy. This article explores a sophisticated campaign against the proposal by the insurance industry, and the resistance of the unions. In doing so, it considers the implications of this cross‐class alliance, not least in terms of a possible missed opportunity to build a ‘developmental state’ in the UK, but also in terms of the country's increasingly inadequate and inequitable system of pension provision.     

Design and cultural identity

European Editor of International DESIGN(New York) and, author of New American Design(Rizzoli International Publications New York)     

Cultural differences in Germany and Australia

This article discusses examples of cultural differences between the German and Australian cultures, their implications in the marketing and business decision making function, and provides recommendations for successful business conduct between Germans and Australians. © 1995 John Wiley & Sons, Inc.