Within-series momentum in hockey: No returns for running up the score

Drawing on data from 916 Division 1 men’s college hockey games played during a recent six-year period in the Western Collegiate Hockey Association (WCHA), we find evidence that positive momentum within 458 two-game series does not exist when controlling for team quality. We find that neither victory nor the margin of victory in Game 1 of a two-game series is predictive of the outcome of Game 2. We suggest that loss aversion should be considered in relation to questions of momentum.     

The Economics of Regulating Cross-border Finance: Two New Views

For much of the 20th century the dominant view in macroeconomics was that cross-border finance needed to be regulated in order to balance the ‘impossible trinity’ first sketched by John Maynard Keynes in his two books on monetary theory. The dominant view in development economics during the same period was that cross-border capital flows need to be regulated for similar reasons but also to mobilize domestic resources for economic development. The view that capital mobility was something to be constrained fell out of favor in mainstream economics by the 1980s and 1990s. The experience of numerous financial crises in the past 20 years has spawned new economic theories that reintroduce the notion that cross-border finance can cause financial instability. One strand of new theory in this realm picks up from Ragnar Nurkse, Hyman Minsky, and others, and has become popular in many emerging market capitals and in the United Nations system. Another strand of new theory comes from modern welfare economics and is gaining ground in mainstream economics, central banks, and the Bretton Woods institutions. This paper examines these new breakthroughs and traces them to their origins in economic thought. Coupled with new econometric evidence on the efficacy of capital account regulation, the regulation of capital flows is justified now more than ever.     

Internationalization's effect on marketing learning: A study of Syrian firms

The aim of the present study is to understand the effects of international expansion on firms' acquisition of marketing learning. This study's focus on marketing learning complements previous research on the impact of internationalization on the development of foreign-market and technological knowledge. The research finds that the scope of a firm's international activities, perception of gaps in marketing knowledge, and external social capital positively influence firms' acquisition of marketing learning. However, firm's age at initial international market entry appears not to be a significant factor. The study adds to the very limited body of research on the marketing learning outcomes of international expansion, while also offering rare empirical insights from the Middle East on this important subject matter. The paper discusses implications for international managers, policy makers, and future researchers.     

Retaining volunteers for the cause: Hope and pride associated with cause-related charity events in cancer control

Special charity events are an important source of revenue for non-profit organisations in cancer control yet volunteering is declining and turnover is high. Experiences at cause-related events may influence retention, particularly emotions connected to the cause and ceremonies which honour cancer survivors and remember loved ones. We explore the degree to which emotions associated with cause-related volunteering and collective action in the literature are felt in response to Relay For Life and what emotions predict three indicators of retention: intention to return for future events, satisfaction with volunteering, and organisational commitment. Volunteers (n = 410) completed a cross-sectional survey at Relay For Life events in Queensland, Australia. Multiple regression analyses examined whether emotions associated with events predicted each indicator of retention, adjusting for number of years spent volunteering for events. Sixty-two percent reported an intention to return the following year. The most commonly reported event-related emotions were hope, pride, and empathy (62–69%). Intention to return, satisfaction, and commitment were each significantly predicted by hope and pride. The findings suggest special charity events in cancer control could retain volunteers by fostering pride and hope (e.g., for a cancer free future); however, future prospective research which examines the mechanisms of these relationships is warranted.     

Is sin always a sin? The interaction effect of social norms and financial incentives on market participants’ behavior

Using alcohol, tobacco, and gaming consumption data and people’s attitudes toward these sin products to proxy for social norm acceptance levels, we show a strong interaction effect between social norms and financial incentives, which significantly influence the behavior of market participants. Specifically, institutional investors’ shareholdings and analyst coverage of sin companies increase with the degree of social norm acceptance. The association between shareholdings/coverage and social norm acceptance is less pronounced for firms with higher future expected performance. Our results show that social norms and financial incentives have a powerful interaction effect in determining the behavior of market participants, suggesting that social norms can be crossed when motive and opportunity exist.     

Economic impacts of climate change on the Australian dairy sector

We analyse the economic implications of climate‐driven pressures on the pasture‐based dairy sector in Australia. We use an integrated assessment model that includes a climate scenario generator, a climate‐biophysical response framework and an economywide analytical framework. For the climate scenario generator, we use data from the OzClim database of the Commonwealth Scientific and Industrial Research Organisation. For the climate‐biophysical response framework, we use the DairyMod model with inputs of changes in climate variables from OzClim to quantify climate change effects on pasture growth and productivity. For the economywide analytical framework, we use the National Integrated Assessment Model to quantify the economic implications of these effects on the dairy sector. The simulated pattern of regional changes in dairy output is not a simple function of the changes in dairy productivity. Our results show that the relative size of productivity changes across regions affects the relative competitive advantage of dairy‐producing regions. Several factors affect the regional distribution of simulated dairy‐output changes, including substitution among sources of dairy output and competition for inputs like supplementary feed. An increased output in regions with moderate reductions in dairy productivity may occur because the severely climate‐affected regions absorb the greatest loss in output.     

A study of communication behaviour in an R & D laboratory

There is still much uncertainty about the determinants of technical communication flow in UK R & D laboratories and even more uncertainty about the causal link between communication behaviour and performance. Hence it is not clear what managerial action should be taken to improve technical communication flow and what effect such action would have on research productivity. In this study the main factors influencing communication flow are identified and the role of basic human characteristics in determining both communication behaviour and performance are studied and discussed.     

Personal selling and sales management: A relationship marketing perspective

The authors examine how the practice of personal selling and sales management is changing as a result of the increased attention on long-term, buyer-seller relationships and identify some implications of these changes. Changes in the traditional personal selling and sales management activities are needed to support the emergence of the part-nering role for salespeople. For salespeople in the part-nering role, the personal selling shifts from a focus on influencing buyer behavior to managing the conflict inherent in buyer-seller relationships. The emphasis on building relationships rather than making short-term sales and the use of sales teams dictates changes in the way firms select, train, evaluate, and compensate salespeople and members of sales teams. In this article, the authors have suggested some issues concerning the emerging partnering role for salespeople that deserve the attention of scholars interested in personal selling and sales management research. Barton A. Weitz is the J. C. Penney Eminent Scholar Chair in Retail Management at the Warrington College of Business Administration at the University of Florida. He received his Ph.D. from Stanford University and his research interests are in the areas of personal selling effectiveness, salesperson motivation, and channel relationships. His research has been published in theJournal of Marketing, theJournal of Marketing Research, Marketing Science, theJournal of the Academy of Marketing Science, andAdministrative Science Quarterly. He has coauthored two textbooks,Selling: Building Relationships andRetail Management. Kevin D. Bradford is an assistant professor of marketing at the University of Notre Dame. He received his Ph.D. from the University of Florida. His research interests include issues in buyerseller relationships and increasing salesperson effectiveness.     

Changes in the value relevance of accounting information over time: Evidence from the emerging market of China

We investigate the changes in the value relevance of accounting information among Chinese firms over the past two decades, during which accounting reforms are launched to provide decision makers with increased disclosure and higher quality financial information. We also investigate the factors that differentiate firms showing significant value relevance improvement from firms showing little improvement. We find increases in the value relevance of some financial variables and decreases in others, which suggests that accounting numbers help to explain the pricing process of stock shares although at different levels. In addition, we find that value relevance improvements are more pronounced for smaller firms, firms with lower growth rates, and those with greater asset tangibility. We also document that value relevance improvements are generally lower in an exuberant stock market. These results have implications for a variety of information users and policy makers in emerging countries which are reforming their accounting systems.     

The Roles of Independent Research and Technology Organizations in the United Kingdom's Technology Transfer Mechanism to SMEs

Independent Research and Technology Organizations (RTOs) provide an increasing proportion of the UK's technology services requirements. RTOs, often former state research establishments spun out into the private sector, provide technology consulting and networking services to specific sectors or for generic technologies; some are membership-based organizations while others work for contract clients. In this paper we explore the roles and services provided by RTOs, together with the measures being taken to assist small firms that, for many RTOs, form a new and challenging market. The diversity of services and approaches to SMEs are related, in part, to the different origins of RTOs. The research indicates three forms of technology services market failure that suggest a need for ongoing external support for the market's mechanism.