The relevance of shopper logistics for consumers of store-based retail formats

This paper discusses and empirically evaluates the relevance of shopping-related logistics for consumers of store-based retail formats. Based on a literature review a conceptual model was developed and subsequently tested using a survey of more than six hundred consumers in the grocery retail sector. Respondents were those primarily responsible for grocery shopping in their households located in a highly concentrated European urban retail market. Variance based structural equation modelling reveals that shopper logistics has a major impact on the convenience of store-based shopping and partly influence consumers' perceptions of shopping related costs. Nevertheless, shopper logistics does not affect consumer behaviour in terms of the share of visits of a store. These results are moderated by age, hedonic shopping orientation, shopping frequency, average spending per trip and store format preference. We conclude that shopper logistics is relevant for consumers of grocery stores but its relevance varies between different shopper groups.     

Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: An Econometric Study

This study of financing decisions by U.S. corporations examines the issuance of long term debt, issuance of short term debt, maintenance of corporate liquidity, issuance of new equity, and payment of dividends. Given costs and imperfections inherent in markets, a firm's financial behavior is characterized as partial adjustment to long run financial targets. Individual firm data are used so that speeds of adjustment are allowed to vary by company and over time. The results suggest that financial decisions are interdependent and that firm size, interest rate conditions, and stock price levels affect speeds of adjustment.     

The pay-for-performance dilemma

To recapitulate briefly, I believe that the basis for most of the problems we have with merit pay plans is the fact that the great majority of people think their own job performance is above average. Even a well-administered merit pay plan cannot give positive feedback to this majority. The consequence is likely to be that the individual's self-esteem is threatened. Too often one copes with such a threat by demeaning the importance of the job or by derogating the source—that is, disparaging the boss or management in general.In addition, merit pay emphasizes the direct relationship between job performance and dollar rewards, thereby detracting from intrinsic motivation in the work itself. A system that would switch the emphasis to rewards for self-development and opportunities for greater responsibility would seem to serve both individual and organizational goals in a more effective manner.