Geometrical Interpretation of the Mean and the Constant in a Box-Jenkins Time Series Model

Certain manuals and computer programs mistakenly identify the mean with the constant in Box-Jenkins time series models. In this paper, it will be shown that (a) the mean and the constant have different values in autoregressive models, and (b) they have an algebraic and graphical relationship.     

What Prevents Firms from Advancing in their Environmental Strategy?

The aim of this paper is to analyze the determinants of the strategic environmental behavior of firms and, more specifically, the external and internal barriers that limit and sometimes even prevent the environmental adaptation. The analysis focuses on a sample of industrial firms that have at least three workers and that are located in Aragón, a region situated in the northeast of Spain. In order to achieve this objective, first the theoretical literature on the topic is reviewed. Subsequently, from the firms which were sampled, the existence of an underlying structure among the totality of barriers is studied. Finally, this structure is analyzed in order to determine if it has any influence on the degree of proactivity of the firm’s environmental strategy.

The relationship between store image and store brand equity: A conceptual framework and evidence from hypermarkets

Retailers are making considerable efforts to improve their brand management. The challenge they face, however, is how best to integrate coherently their stores, as brands, and their various distributor brands (store brands, private labels, etc.), in order to increase their brand equity and offer the market differential value that will stimulate customer loyalty. From this perspective, it is crucial for retailers to investigate the relationship between the store and their own brands. This study proposes two theoretical models showing the mechanism whereby store image helps increase the equity of a specific type of distributor brand (the store brand). The approach used in this analysis is based, on the one hand, on defining brand equity through its components, using the model in Aaker (1991), and on the other, on including (social and strategic) corporate dimensions in measuring store image. The empirical research made in the hypermarket sector in the Basque province of Gipuzkoa backs the majority of the proposed hypotheses. The results show that store image can be used by retailers to influence all components of store brand equity, essentially through its commercial and strategic dimension. This research is intended to address the clear lack of research on store brand equity.     

Key service innovation drivers in the tourism sector: empirical evidence and managerial implications

This study highlights the importance of market orientation and the use of information and communication technologies (ICT) as determinants of service innovation activity for companies in the tourism sector. In doing so, the study provides a means to classify companies as innovative or not. Using a sample of 100 Spanish firms from different branches of the tourism sector, we confirm and extend prior research. In particular, market orientation??especially a customer orientation??is critical for developing new services that lead to competitive advantages. In addition, ICT have a dual, direct, and indirect influence on service innovation.     

Automatically extracting tourism-related opinion from Chinese social media

Existing tourism-destination investigations of Chinese texts remain weak, and no approach is available to realize Chinese context semantically and automatically. To resolve this, we provide a novel method based on qualitative analysis for studying the online opinions of Chinese tourists regarding the destinations to which they travel. Both traditional and simplified Chinese forums were chosen as the object of study. Spain was selected as a travel destination to evaluate the proposed method. After processing the natural language, unstructured Chinese content is analysed to derive the general sentiment and relevant topics regarding the destination through user comments on social media. The proposed method allows us to understand what tourists are interested in and how they form opinions about tourist destinations.     

A useful tool for forecasting the Euro-area business cycle phases

Based on a novel extension of existing multivariate Markov-switching models, we provide the reader with a useful tool for analyzing current business conditions and making predictions about the future state of the Euro-area economy in real time. Apart from the Industrial Production Index, we find that the European Commission Industrial Confidence Indicator, which is issued with no delay, is very useful for constructing the real-time predictions.     

Multivariate partial adjustment of financial ratios: a Bayesian hierarchical approach

In this paper we propose a multivariate extension of the partial adjustment model of financial ratios. To that end, we use a dynamic factor model which assumes that financial ratios measuring, essentially, the same economic–financial dimension of the firm evolve in a similar way, reflecting the evolution of the common factor. The proposed model is hierarchical with three levels. The first describes the relationship between each ratio and its common factor; the second describes the evolution of the common factors over time by means of Lev's ( 1969 ) partial adjustment model; and the third analyzes the similarity of firms' adjustment coefficients, taking into account their characteristics. The methodology is applied to the analysis of a set of financial ratios related to the business and financial structure of the firm. Copyright © 2008 John Wiley & Sons, Ltd.     

Impression Management Tactics and Performance Ratings: A Moderated-Mediation Framework

Purpose: The objective of this study is to contribute to the sales management literature by analyzing whether self-monitoring dimensions (the ability to adjust the presentation of one’s self and the sensitivity to the expressive behaviors of others) play a moderating role in the use of impression management—supervisor liking—performance rating nomological network.

Methodology/approach: Empirical analysis is based on dyadic data from 122 industrial salespeople and their sales managers in 9 different industries. Structural equation modelling was used to analyze the psychometric proprieties of the measurement scales, and conditional process analysis was used to test the proposed hypotheses.

Research implications: The results obtained indicate that the use of supervisor-focused impression management tactics is an indirect antecedent of a salesperson’s performance rating through sales manager liking, but not the self-focused tactics. Results also show that a self-monitoring dimension i.e., the ability to adjust the presentation of one’s self, moderates the “impression management—supervisor liking—performance rating” chain. These results provide an increased understanding of the processes involved in sales managers—salespeople’s interactions.

Practical implications: The main implication for salespeople is that the use of impression management tactics to influence performance ratings only is effective when they use supervisor-focused tactics because attempts to influence via self-focused tactics will not have any effect. The most important implication for sales managers’ is that not all impression management tactics are successfully executed and that the identification of combinations of impression management tactics and the levels of salespeople’s self-monitoring can positively influence performance appraisals by generating evaluative biases. Given that evaluative biases can produce inequitable behaviors by sales managers in the task assignments and support provided to the salespeople, it is important that sales managers are aware of when they can occur (i.e., when salespeople with a moderate ability to adjust their self-presentation use supervisor-focused tactics).

Originality/value/contribution of the article: This article contributes to the existing knowledge by two important means. First, this study proposes a model and presents an empirical test of constructs that mediate (i.e., supervisor liking) and moderate (i.e., self-monitoring dimensions) the “use of impression management tactics—sales manager liking—performance appraisal” relation. This model responds to calls for studies that analyze how impression management tactics are related to performance appraisal and when the relation between the use of these tactics and performance rating occurs. Two, this study uses data from both salespeople and their sales managers, which minimizes any risk of common method variance bias.     

Brand and performance signals in the choice of franchise opportunities

When choosing a franchise chain, potential franchisees must incorporate into their decision process the signals of franchise chain quality being sent to the market by the franchisor. Some of these signals along with potential franchisees' choices of franchise chain are analyzed. The results show that brand value and franchisee performance were the key signals used by Spanish franchisees during the period 2002 through 2008, when deciding to open a franchise outlet. The aim of this study was to contribute to strengthening the relationship between entrepreneurship and franchising in Spain from an empirical viewpoint.     

Evolution of indigenous tourism among the Lacandon of Chiapas: an application of Weaver’s model

ABSTRACT

In this paper, Weaver’s six-stage indigenous tourism model is applied to the Lacandon Maya (Hach Winik) of Chiapas, Mexico. Based on a comprehensive review of the anthropological and historical literature on this indigenous group, combined with longitudinal ethnographic and collaborative research performed with tourism entrepreneurs, the Lacandon tourism experience is assessed from the pre-European period until present. By analysing a case study of indigenous tourism in Mexico, a developing country in another geographical region and with a different colonial past, this work supplements Weavers’ perspective. The results show that the fourth and fifth stages of Weaver’s model coincide in this case study, while the sixth stage is still incomplete. Although the Lacandon case has its peculiarities and bearing in mind that several different factors should be considered in the Latin American context, the model proves to be an interesting tool for indigenous tourism analysis in developing countries.