Taste and nutrition: the uses and effectiveness of different advertising claims in women's magazine food advertisements

A multi-method study was conducted to examine different advertising claims in current food advertising and to determine the effectiveness of different advertising claims on females’ evaluative judgments of food advertisements. Content analysis results of 678 women's magazine food ads indicated functional food ads appeared to adopt nutrition appeals without taste claims and a combined use of nutrition appeals and taste claims, whereas hedonic food ads tended to use taste claims without nutrition appeals. Nevertheless, these food advertising practices were called into question by the results of two experiments, showing the combined use of nutrition appeals and taste claims was the most effective strategy for both hedonic and functional foods. However, for hedonic foods, advertisers need to include more congruent than extremely incongruent claims. Implications for food advertisers and policy-makers were discussed.     

Entrepreneurial cyclical dynamics of open innovation

This study addresses the following matters: What is the structure and mechanism of modern capital economic dynamics that motivates the growth limits of capitalism? The modern economy can be modeled as Entrepreneurial Cyclical Dynamics of Open Innovation with three sub-economies such as market open innovation by SMEs and start-ups, closed open innovation by big business, and social open innovation. When there is low balance among the three sub-economies, which is to say, if any of the sub-economies is too big, or too small, the economy dynamics decreases, and the economic growth rate slows down to nearly zero or even negative according to the model simulation. South Korea, with a low internal reserve policy, is in this situation. When there is medium balance among three sub-economies, which is to say, any of the sub-economies is big enough to lead the total economy but is not sufficiently big to control totally the other two economies, the economy dynamics increases and the economic growth rate will be maintained at a high level according to the model simulation. India, with its grassroots innovation festival, demonstrates this situation. When there is a high balance among the three sub-economies, which is to say, the three sub-economies are well balanced and there is no change in the economic system, the economy dynamics become too low and the economic growth rate stays at a low level according to the model simulation. Japan’s Hitachi is moving from this situation to a medium balance.     

Using patent information for designing new product and technology: keyword based technology roadmapping

With the rapid change in markets and technologies, it is becoming essential for firms to develop new products constantly. This can most successfully be achieved by using technology roadmaps (TRMs), which are effective tools for connecting product and technology planning. However, TRMs generally tend to overstate the qualitative and expert-dependent knowledge rather than incorporating quantitative and objective information. This paper proposes a new approach where patent data are used in a quantitative methodology to support reliable decision-making in roadmapping processes. In this study, text-mining techniques were utilized to extract the relevant information on which portfolio, co-word, and network analyses were carried out. The results were three types of product-technology maps that can be applied to specific roadmapping steps. The suggested approach is expected to yield useful information about roadmapping, and help improve the overall effectiveness and quality of the technique.     

Strategic implications of the open-market paradigm under digital convergence: the case of small business C2C

This article presents the open-market paradigm in the context of digital convergence and proposes strategic directions for open-market participants. Although not a new phenomenon, open market has become the most popular e-business model, linking millions of buyer and seller individuals (Customer to Customer: C2C). This article examines the drivers of digital convergence that enable the open-market paradigm and conducts industry and Blue Ocean analyses for open-market business. Finally, a real-world application—the Cyworld market of Korea—is presented as an illustrative example.     

The financial system and the Pasinetti theorem

Palley (Inside debt, aggregate demand, and the Cambridge theoryof distribution, Cambridge Journal of Economics, vol. 20, no.4, 465–74, 1996; Financial institutions and the Cambridgetheory of distribution, Cambridge Journal of Economics, vol.26, no. 2, 275–7, 2002) considers the Pasinetti theoremin the context of the credit money system where banks generatedebts endogenously, and claims that the theorem ceases to holdin such a system, being valid only in the loanable funds system.This paper traces the root of Palley's claim to his assumptionregarding the ownership of banks, sets out an alternative (morerealistic) ownership arrangement, and thereby restores the Pasinettitheorem unscathed in the credit money system (at least in thekind Palley must have considered). The paper, however, uncoversthe case where the theorem indeed collapses and discusses thereason for it: the hoarding of a non-interest-bearing asset.     

Transpacific Trade Imbalances: Causes and Cures

This paper explores the causes of the transpacific trade imbalances using an empirical global model. It also evaluates the impact of various policies to reduce these imbalances. We find the fundamental cause of trade imbalance since 1997 is changes in saving‐investment gaps, attributed to the surge of the US fiscal deficits and the decline of East Asia's private investment after the 1997 financial crisis. Our simulation results show that a revaluation of East Asia's exchange rates by 10 per cent (effectively a shift in monetary policy) cannot resolve the imbalances. We find East Asia's concerted efforts to stimulate aggregate demand can have significant impacts on trade balances globally, but the impact on the US trade balance is not large. US fiscal contraction is estimated to have large impacts on the US trade position overall and on the bilateral trade balances with East Asian economies. These results suggest that in order to improve the transpacific imbalance, macroeconomic adjustment will need to be made on both sides of the Pacific.     

Banks and the world’s major banking centers, 2000

We update earlier articles on the determinants of interpenetration of financial centers by banks and analyze the substantial changes that have occurred between 1990 and 2000. First, the number of banks and the number of offices in other centers has fallen by over 20 percent since 1990. Second, aggregate interconnectedness has held steady between 1990 and 2000, though there is an increasing asymmetry. Third, Tokyo has lost rank as a center, while Hong Kong and Singapore have continued to gain importance. Fourth, Frankfurt, rather than gaining importance with the advent of the euro, has apparently lost importance. Lastly, some explicit or implicit agreements between banks from different countries not to compete in each other's markets have continued to wane, though intra-European interpenetration remains relatively low. JEL no. F30, G15, G21     

IS THERE A SIGNALING EFFECT OF UNDERWRITER REPUTATION?

In this article we examine the effect of underwriter reputation on the abnormal return due to an announcement to issue seasoned new equity. After controlling for other factors that relate asymmetric information to abnormal returns, underwriter reputation still significantly reduces the magnitude of the negative announcement effect. We also develop a procedure to extract a signaling component from the measure of underwriter reputation. We show that the signaling component of underwriter reputation positively and significantly affects abnormal returns. This result supports the notion that issuing firms use underwriter reputation as an effective instrument to signal that their stocks are not overvalued. JEL classification: D82, G24, G30