Plant level evidence on product mix changes in Chilean manufacturing

This article analyzes changes in the product mix by Chilean manufacturing plants in the period 1996–2003. Three quarters of the surviving plants changed the set of products produced and more than three quarters of the exporting plants changed the mix of products they exported during the sample period. Plants that changed their product mix contributed 85% of the aggregate growth in real sales of surviving plants between 1996 and 2003. Finally, and in contrast to the US evidence, there is a negative correlation between revenue per product and the number of products. Apart from this, new evidence consistent with recent models of multi-product heterogeneous firms and trade is provided.     

Asymmetric search and prospect theory: choice experiment on consumer willingness to search in the gasoline retail market

We use an internet survey conducted among a representative random sample of drivers in the State of Ohio consisting of a choice experiment designed to examine the mechanism driving asymmetric search. The internet survey affords us the opportunity to overcome endogeneity difficulties by imposing exogenous price changes on gasoline consumers to examine the decision-making process behind intended search decisions. We randomly assigned participants to one of five price treatments (either 2.5 or 5% above or below their reported expected price, or no change). We provide a simple empirical model to derive testable implications under prospect theory and use the internet survey to test them. Results indicate that among the respondents who faced prices below their expected price, only 12% chose to search, whereas 45% searched when prices were above. Further, we find results consistent with asymmetric search being driven by prospect theory. The change in consumers’ willingness to search is twice as large when prices exceed expectations by 2.5% relative to when prices exceed them by 5% suggesting that consumers derive utility of finding a good deal evaluated relative to a reference price. We show that this result is inconsistent with standard utility theory or consumers using alternative reference prices.     

Assessing gender differences in ‘quick response’ code loyalty promotion acceptance

This study sheds light on quick response (QR) code loyalty promotion in terms of gender. Based on self-construal and gender scheme theories, we posit that the level of both involvement and social anxiety plays a crucial role in the gender effects of loyalty formation for promoted services. A scenario-based study in Japan with 667 consumers is constructed and examines two types of services: bank and supermarket. The findings suggest that, for high involvement (bank), compared with women, males act as competitive gamers who assume greater risk and seek attractive rewards with which to beat corporations, even under high social anxiety conditions. This finding seems consistent with independent self-construal among males. However, there is no significant difference for low involvement (supermarket). The implications are discussed and limitations recognized.     

PROFILE OF A WINE TOURIST AND THE CORRESPONDENCE BETWEEN DESTINATION AND PREFERRED WINE: A STUDY IN ARAGON,SPAIN

Most of the existing characteristics of wine tourists have been based on the point of view of wineries or have been based on the tourists who have visited wineries. It is therefore necessary to establish a more general profile of wine tourists. In conjunction with this, a more in‐depth look must be taken at the motivations for visiting a destination. These motivations can include the production area of a preferred wine. The correspondence between the production area of a preferred wine and the destination selected by a tourist has been taken as a given in the research performed to date, but it has not been studied in depth. The results obtained show that the profile of a wine tourist can be divided into two groups, thereby considering the variables of gender, income, age, belonging to a wine club, wine consumption habits, and involvement in activities related to wine. Moreover, in the analyzed case there is positive correspondence between the place of origin of a preferred wine and the destination selected when participating in wine tourism.     

Changes in the intellectual structure of strategic management research: a bibliometric study of the Strategic Management Journal, 1980–2000

The aim of this paper is to identify the works that have had the greatest impact on strategic management research and to analyze the changes that have taken place in the intellectual structure of this discipline. The methodology is based on the bibliometric techniques of citation and co‐citation analysis which are applied to all the articles published in the Strategic Management Journal from its first issue in 1980 through 2000. Copyright © 2004 John Wiley & Sons, Ltd.     

不平等就是不健康

文森特·纳瓦罗(V icente N avarro)是约翰斯—霍普金斯大学布卢姆博格公共健康学院的教授和普姆蓓—费布拉大学(P om peiiFabra U niversity)的政治社会科学教授。同时,他还兼任国际健康服务杂志的主编。他在约翰斯—霍普金斯大学医学院2003级毕业典礼上演讲指出,“不平等就是不健康”。以下为纳瓦罗教授演讲的主要内容。“不平等就是不健康”,其原因除了不平等的加剧通常会伴随着贫困的加剧(它仅仅是部分正确的)外,更在于不平等本身就会产生这样的消极影响,即社会群体之间和个体之间的差距以及这种差距导致的社会凝聚力(cohesion)不足会…     

Earnings Quality in a Bubble Period: The Case of Construction Activity Firms in Spain

Housing bubbles may result in deep crises that affect all economic systems. This study investigates how the recent housing bubble in Spain has affected earnings quality during the whole bubble. To this end, we use data on mostly private construction activity firms in Spain, that is, construction and real estate companies. Earnings quality is studied by means of the predictive ability of earnings, conservatism, discretionary accruals and real earnings management. The results indicate a progressive decrease in the quality of financial reporting as the bubble develops, as managers try to conceal an underlying downward trend. We further show that earnings quality continues to decline even after the bubble bursts. Overall, this contribution, together with those of other environments, may suggest that, in a bubble context, we have to take care of firms’ earnings quality even some years before the crisis comes to the fore.     

Analysis of the hysteresis of unemployment in Mexico in the face of macroeconomic shocks

This research presents the behavior of the Mexican unemployment rate and shows the dependence with own history and macro variables. The concept of hysteresis or persistence tries to separate this inertia in the unemployment rate and some macroeconomic and endogenous factors. The results show a high inertia in the Mexican labor market, justified by the monetary levels and the dependence of the investment levels, considering the shocks of exports that affect the unemployment in the long term.     

Labor market assimilation of immigrants in Spain: employment at the expense of bad job-matches?

During the last decade, Spain has experienced an unprecedented increase of immigration from three localized areas: Eastern Europe, Latin America, and Africa. Using data from the Labour Force Survey for the period 1996–2006, we study the labour characteristics of recent immigrants, identifying the major differences with the native population at arrival and tracking whether these differences fade away as their years of residence in Spain increase. We allow the returns to human capital and the sensitivity to the business cycle to differ between immigrants and natives. Overall, our results show that, compared to natives, immigrants face initially higher participation and unemployment rates, as well as higher incidence of overeducation and temporary contracts. However, 5 years after arrival immigrants’ participation rates start to converge to natives’ rates, unemployment rates decrease to levels even lower than those of natives, and the incidence of overeducation and temporary contracts remains roughly constant: no reduction of the gap with Spanish workers is observed. We are grateful to Christian Dustmann, Juan F. Jimeno, Claudio Michelacci, an anonymous referee, and seminar participants at the 2006 EALE Conference, 2006 Simposio de Análisis Económico, BBVA Economic Research Department, FEDEA, CReAM, INSIDE and LECG for helpful comments and suggestions.     

Cost-effectiveness of obinutuzumab plus bendamustine followed by obinutuzumab monotherapy for the treatment of follicular lymphoma patients who relapse after or are refractory to a rituximab-containing regimen in the US

Aims: Obinutuzumab (GA101, G) was approved in February 2016 by the US Food and Drug Administration to treat follicular lymphoma (FL) patients who relapsed after, or are refractory to (R/R), a rituximab-containing regimen (R/R-rituximab). In the GADOLIN trial, R/R-rituximab patients who received G plus bendamustine (B) followed by G-monotherapy (G?+?B) for up to 2 years had significantly improved progression-free survival and overall survival compared to patients receiving B-monotherapy. This study estimated the cost-effectiveness of G?+?B vs B-monotherapy for R/R-rituximab FL patients from a US payer perspective.

Materials and methods: Patient outcomes were simulated using a 3-state area under the curve model including progression-free survival, progressive disease, and death. This study used R/R-rituximab data from the National LymphoCare Study to extrapolate the GADOLIN trial’s refractory FL progression-free and overall survival data to a R/R-rituximab FL population. Drug utilization and adverse events were based on trial data, and costs were based on Medicare reimbursements and drug wholesale acquisition costs in 2016. Utility estimates were derived from published literature. Post-progression treatment costs were based on observed post-progression therapies in GADOLIN. Sensitivity analyses were conducted to assess model uncertainty.

Results: G?+?B resulted in an increase in quality-adjusted life years relative to B-monotherapy of 1.24 (95% CR?=?0.61–1.87); the incremental total cost was $58,100 (95% CR?=?$54,500–$61,500). The incremental cost-effectiveness ratio was $47,000 per QALY gained, and, based on probabilistic simulations, there was a 98% probability that G?+?B was cost-effective at the $100,000 per QALY threshold.

Limitations and conclusions: This US-based analysis suggests that treatment with G?+?B compared to B-monotherapy is likely cost-effective in R/R-rituximab FL patients. Modeling a R/R-rituximab population based on a synthesis of GADOLIN and the National LymphoCare Study data introduces uncertainty in the analysis. However, the findings were robust to sensitivity analyses.