Understanding Firm, Physician and Consumer Choice Behavior in the Pharmaceutical Industry

This paper argues that the pharmaceutical industry represents an exciting opportunity to carry out academic research. The nature of the industry allows researchers to answer new questions, develop new methodologies for answering these questions as well as to apply existing methodology to new data. The paper opens with some industry background, then provides a brief overview of some important research areas and discusses the open questions in each area. Issues of data type and availability are also discussed. This paper is based on a session (with the same title and participants) that was part of the Sixth Invitational Choice Symposium hosted by the University of Colorado and held at Estes Park, Colorado during June 4–8, 2004.     

Applying Conceptual Framework Principles to Superannuation1 Fund Accounting

The Australian accounting standard AAS 25, Financial Reporting by Superannuation Plans, was the first pension accounting standard internationally to apply established conceptual framework (CF) principles. In Australia those principles have guided standard setting for more than a decade. However, AAS 25 has been criticized for failing to provide useful financial information. The analysis provided in this article addresses this paradox. The findings reveal major anomalies in AAS 25 associated with the treatment of accrued benefits that distort financial position and performance measures. The conceptual flaws in the standard are attributed to the misapplication of CF principles and an absence of adequate guidance in the CF for non‐corporate entities such as superannuation funds. Distorted financial information produced by superannuation plans has potential undesirable taxation and social outcomes. Consequently, there is an urgent need to update the Australian and international conceptual frameworks to provide guidance for revising accounting standards that better reflect current fiduciary and ownership relationships in non‐corporate entities such as superannuation funds.     

Are Superannuation Disclosures in Company Financial Reports Useful?

An analysis of superannuation disclosures in the financial reports of 120 public companies shows surprisingly frequent instances of non-compliance with AASB 1028. This is attributed to inherent weaknesses in the mandatory disclosure requirements. Significant problems include inconsistencies in the reporting of information about hybrid superannuation funds sponsored by companies, absence of timeliness, and non-disclosure of contribution holidays. These findings suggest that present superannuation disclosure requirements do not meet the objective of providing useful information for decision-making.     

Guest Editorial

Abstract

While some Internet-only retailers survive and prosper, for most, multichannel retailing provides a sustainable and attractive blend of new and existing retail formats. The complementary roles of stores and Internet are frequently noted, yet the renewed significance of catalogues is often ignored. This paper is based upon a survey of 2,341 shoppers across three product sectors and three shopping scenarios, identifying their relative utilization of, and attitudes towards, stores, catalogues and the Internet.

Principal component analysis and multi-attribute analysis (MAA) scores summarize attitudes across the three channels, sectors and motivational scenarios. Four major components in channel choice emerge consistently: risk reduction, product value, ease of shopping and experiential. K-Means clustering on preference and behavioural variables identifies the truly multichannel shopper segment. Key characteristics of these shoppers are summarized, demonstrating that the multichannel shopper comprises a large and mainstream segment. Implications are identified for retailers and researchers.     

Job Satisfaction of Estonian Professional Accountants

International Advances in Economic Research -     

Exploring the locus of internal marketing

Service and business-to-business companies have remained at the forefront of studies into internal marketing due to close contact between employees and customers. Marketing academics and practitioners have shown particular interest in the supermarket sector over recent years due to fluctuations in performance that have been reported. Consumers have negligible switching costs, so the risk of them purchasing substitute products is a problem to marketers where there is insignificant product differentiation. There is little evidence to support the benefits of internal market orientation in the food retail industry, and the main reason is difficulty of measuring its value. Although the UK food retail industry has been extensively researched, researchers have yet to address it properly in regard to internal market orientation. There is now an opportunity to create sustainable competitive advantage by providing a variety of offerings.