Social Networking the Brand—An Exploration of the Drivers of Brand Image in the South African Beer Market

Social network marketing has risen to the fore as an innovative and cost effective method of reaching a target audience. However, owing to the recentness of this marketing technique, there is little scholarly research in this area, especially in emerging markets. This study considered the impact of interactivity and media richness on brand attitude and brand image in the South African beer market. It also tested whether brand involvement has a moderating effect in this regard. The empirical work was conducted through an electronic survey of Facebook fan page users. The results revealed that interactivity had a positive effect on brand attitude, whilst media richness did not. Brand involvement, tested for a moderating effect on the above relationships, was not found to be significant. As expected, brand attitude was found to be strongly linked to brand image in this context. The findings stress the importance of bidirectional communication in favor of media rich design. This suggests that marketers of beer would be well advised to engage with customers on fan pages in routinely responding to their comments and allowing them to upload suitable content. If consumers feel that they have ‘ownership’ of these pages and are able to have a positive influence on brand evolution, fan pages are likely to yield positive results in social media campaigns.     

Faddists,Enthusiasts and Canadian Divas: Broadcasting Quotas and the Supply Response

This paper constructs a model of the recorded music market to investigate the consequences of local content requirements in broadcasting for the “internationalization” of domestic music. It models the entry decisions of bands, the contracting decisions of record companies, the airplay decisions of radio stations and the radio listening and recording purchasing decisions of consumers. The paper shows that a local content quota leads, perversely, to the increased internationalization of domestic music. A quota that also requires increased broadcasting of “new” music yields an additional welfare loss but does nothing to a record company's incentives to sign up new bands.     

The Eurozone’s Flaws Are Not Intrinsic

There seem to be two typical responses to the failure of the euro project that the last five years have exposed. The first, mostly from those outside the eurozone, is that the whole project was doomed from the start and should be abandoned. The second is that the only way forward is further political integration. However, the problems of the eurozone are not intrinsic to any attempt at a monetary union, but rather reflect design flaws in the particular version of monetary union that was embodied in the euro project.     

The effect of banking market structure on the lending channel: Evidence from emerging markets

This paper analyses the extent to which the level of bank competition influences monetary policy transmission. Using a large panel dataset of 978 banks from 55 countries, and employing the Lerner index model as a measure of market structure, our results show that an increase in banking sector competition weakens the effectiveness of monetary policy on bank lending. The findings are robust to a broad array of sensitivity checks including control of alternative measurements of the Lerner index, different samples and different methodological specifications. By extension, these results have important policy implications for regulators in assessing the effectiveness of monetary policy transmission mechanisms.     

Evidence of Industry Scale Effects on Audit Hours,Billing Rates,and Pricing

Using a proprietary data set consisting of all private firm audit engagements in 2000 from one Big 4 firm in Belgium, we investigate (i) whether audit office industry scale is associated with a reduction of total, partner, and staff audit hours and thus with efficiency gains triggered by organizational learning from servicing more clients in an industry and (ii) whether the extent of efficiency pass‐on from the auditor to its clients depends on the audit firm's market power. We find that auditor office industry scale is associated with efficiency gains and a reduction of the variable costs (i.e., fewer total audit hours, partner hours, and staff hours), ceteris paribus. Our results also suggest that, on average, realized efficiencies are entirely passed on, as evidenced by a nonsignificant effect of auditor industry scale on the auditor's billing rate. Furthermore, we find that the extent of the efficiency pass‐on decreases with the market power of the audit firm in the industry market segment as we document a higher billing rate for auditors with high market power (versus low market power). In addition, we find that the lower audit hours associated with auditor industry scale do not compromise audit quality.