Causal mapping and scenario building with multiple organisations

Thinking and planning for the future is critical in a competitive business world. Scenarios are a common technique for investigating the future, but can be time consuming and challenging to develop, particularly when more than a single organisation is involved. An approach is presented here which shifts the focus of scenario building from the company level to the sector level, whereby a range of organisations engage collectively on a topic of mutual importance. A rapid technique was developed, with simple scenarios being constructed in 2-4 h. This process was implemented in 13 multi-organisational workshops with participants from the construction and building industries, sectors which are traditionally short-term and reactive in their outlook. The resulting feedback, observations and experiences are discussed, together with examples of how the resultant scenarios have been applied. An example of causal map reflection (exposing an individual's causal map to others) is also presented, described and critiqued. It was found that the process was successful in engaging participants in thinking about and discussing the future, appreciating the interconnectivities of the related issues, and understanding the collective implications of their potential decisions, as well as facilitating the socialisation of participant thinking and the construction of collective futures.     

Exploring the online buying behavior of specialty food shoppers

Food producers are experiencing a fast-growing need to use the Internet to enhance competitive advantage. Past researchers have urged the need to understand market segmentation mechanisms as applied to different consumer behavior models to better understand the online buying behavior of consumers. This study integrates the Theory of Planned Behavior and food-related lifestyle to explore consumer's characteristics of online specialty food buying behavior, and the differences in the online buying process among consumers with different FRL. 569 undergraduate students who purchased specialty food online were surveyed. Findings indicated that consumers have positive attitudes toward purchasing specialty food online; more are inclined to heed the suggestions of others, perceive higher levels of control when using a website, and experienced a higher intention to purchase online. The study then classified consumers into ‘traditionalists’ or ‘adventurous and healthy-conscious’ groups based on their FRL via a two-step cluster analysis. These two groups of consumers had significant differences in terms of (a) attitudes toward online specialty food buying, (b) subjective norms, (c) perceived control, (d) behavioral intention, (e) demographics and (f) online specialty food-buying behavior. This investigation explored whether there is a correlation between consumer FRL and online specialty food-buying behavior. Findings reveal relevant ways for managers to enhance their website marketing strategies.     

The influence of CEO and CFO power on accruals and real earnings management

In this study, we examine the effect of CEO and CFO power on both accruals and real earnings management (AEM and REM, respectively), and the extent to which CEO and CFO power mitigate the effect of one another on AEM and REM. We further examine whether the passage of the Sarbanes-Oxley Act (SOX) altered these effects. In the pre-SOX period, we find that AEM (REM) is greater when the CEO (CFO) is powerful relative to the CFO (CEO). In the post-SOX period, however, we find that the effect of relative CEO power on AEM subsides, whereas the effect of relative CFO power on REM persists. Additionally, we find evidence to suggest that powerful CFOs inhibit the AEM preferences of powerful CEOs in both the pre- and post-SOX periods. Finally, we find evidence to suggest that powerful CEOs inhibit the REM preferences of powerful CEOs in the pre-SOX period, but not in the post-SOX period. Collectively, our results suggest that the power of the CEO relative to the CFO is an important factor in the both the type and magnitude of earnings management.

     

Interest Rate Pass‐through in Malawi: Implications for the Effectiveness of Monetary Policy

This study investigates the interest rate pass‐through in Malawi and its implications on monetary policy effectiveness. Using the cost‐of‐funds approach and monthly data from 2009 to 2015, an autoregressive distributed lag model is fitted. Results show that there is a near complete pass‐through to the lending rate but not the savings rate. The magnitude of the pass‐through is relatively higher under smaller banks. The results suggest that the structure of the banking industry matters. Market power is important in understanding the variation in lending and savings rates across banks. Overall, short‐term rates as operating targets are consistent with inflation targeting in Malawi.     

WHY DO PEOPLE AVOID ADVERTISING ON THE INTERNET?

This study was designed to provide insights into why people avoid advertising on the Internet. Recent negative trends in Internet advertising, such as "banner blindness" and extremely low click-through rates, make it imperative to study various factors affecting Internet ad avoidance. Accordingly, this study builds a comprehensive theoretical model explaining advertising avoidance on the Internet. We examined three latent variables of Internet ad avoidance: perceived goal impediment, perceived ad clutter, and prior negative experience. We found that these constructs successfully explain why people cognitively, affectively, and behaviorally avoid advertising messages on the Internet. Perceived goal impediment is found to be the most significant antecedent explaining advertising avoidance on the Internet.     

Global shark currency: the distribution,frequency, and economic value of shark ecotourism

Ecotourism represents a highly popularised activity which has exhibited global growth in recent years. In the present paper, we examine the distribution, frequency, and economic value of shark-based ecotourism operations worldwide. A total of 376 shark ecotour operations across 83 locations and 8 geographic regions were identified. Here we describe the global and regional scope of the industry; determine the species utilised in shark ecotourism activities; and examine the recreational usage values of sharks. Further, we conducted a case study of a shark tourism operation based in South Africa by analysing 12 years of demographical and economical data, revealing increasing trends in the total number of customers served and cost per trip over the sampling period. We also compare consumptive and non-consumptive values of shark resources and discuss the potential research and conservation implications of the industry to sharks worldwide.     

The determinants of entry and exit rates into U.S. manufacturing industries

Entry and exit rates are examined across a fairly large sample of 4-digit U.S. manufacturing industries. Market growth significantly increases (reduces) entry (exit) rates. Profits increase entry rates. Advertising clearly acts as an entry barrier. Sunk capital costs seem to deter exit. While entry and exit rates are related in the sample, whether they are simultaneously determined is unclear.