Globally, the hospitality industry ranks as one of the most competitive business sectors, with competing organizations relying on a cocktail of strategies such as relationship marketing to stay relevant, and attract and retain customers. This article examines how relationship marketing impacts trust, commitment, and repurchase intension of customers in the Ghanaian hospitality industry. The data collection questionnaire was administered to 167 randomly selected customers at a four-star hotel in the Accra metropolis. The data analysis used structural equation modeling to ascertain the significance of the relationship that exists between trust, commitment, and customer repurchase intension regarding the relationship marketing practices of hoteliers in Ghana. The findings show a positive and significant relationship between trust, commitment, and repurchase intension. The study also revealed that commitment partially mediates the association between trust and repurchase intension. This implies that both trust and commitment are necessary to attain repurchase and, eventually, loyalty. 相似文献
We assess the value of frequent issuers to investors in securitization markets by examining the initial yield spread of 6132 European mortgage-backed securities (MBS), covering a 20-year period between 1999 and 2018. We find that frequent issuers have certification value, and it increases as the credit cycle approaches its peak, as lending standards loosen, and information asymmetries in securitization markets increase. Investors value frequent issuers more favourably on riskier, difficult to evaluate MBS. We find that after the great financial crisis (GFC), investors began to attribute more value to frequent issuers, regardless of MBS credit quality. We also find that in the pre-crisis period, investors required higher yields to compensate for perceived rating shopping, which is not observed after the GFC. Finally, we show that investors expect higher yields on deals closed by subsidiaries of foreign banks.
The rapid growth in aquaculture production, globally and in Bangladesh is well documented. Over 2000–2010, per capita production of aquaculture grew 76%, while the consumer price of fish declined 45%. Previous studies have suggested pro‐poor effects of aquaculture based on fish production and consumption patterns. This study attempts to quantify the contribution of aquaculture to income growth and poverty reduction in Bangladesh, using household survey data and a microsimulation approach based on an expanded version of Deaton's concept of net benefit ratio. We estimate that aquaculture's contribution to income growth between 2000 and 2010 was 2.1%, including both price and quantity effects. This income growth was translated into poverty reduction of 1.7 percentage points. Although these estimates seem small, they represent almost 10% of the overall poverty reduction in Bangladesh during the first decade of the 21st century. Put differently, of the 18 million Bengalis who escaped poverty during 2000–2010, about 1.8 million of them managed to do so because of the rapid growth in aquaculture, which contributed to rural income while making fish more accessible to consumers. 相似文献
We show that media coverage of mutual fund holdings affects how investors allocate money across funds. Fund holdings with high past returns attract extra flows, but only if these stocks were recently featured in the media. In contrast, holdings that were not covered in major newspapers do not affect flows. We present evidence that media coverage tends to contribute to investors? chasing of past returns rather than facilitate the processing of useful information in fund portfolios. Our evidence suggests that media coverage can exacerbate investor biases and that it is the primary mechanism that makes fund window dressing effective. 相似文献
The joint costs model states that increasing union and firm strike costs lead to fewer strikes. This paper shows that strike incidence need not decrease when joint strike costs increase. The innovation is to raise union and firm joint strike costs in an asymmetric way. The results indicate that increasing either party’s strike costs can have ambiguous effects on strike incidence. This ambiguity explains why higher strike costs need not always lead to fewer strikes, and thus accounts for the mixed success observed in studies that empirically test the joint costs model with strike incidence data. 相似文献
This study investigates the relationship between outside managerial assistance and small business performance using a conditional quantile regression approach. The model was tested using a sample of 902 ventures that received managerial or technical assistance from the U.S. Small Business Administration's Entrepreneurial Development Resource Partners. Results show that outside assistance for primary business functions, such as marketing strategy, promotional strategy, financial management and general management, is more effective for firms with lower levels of financial performance. Outside assistance for secondary business functions, such as human resources and obtaining capital, is likely to have a greater impact on firms in the middle- to upper-quantile levels. Based on the results, we propose that managerial outside assistance providers should employ different approaches for firms with lower versus higher levels of financial performance. 相似文献
Improving existing drinking water supply services in developing countries depends crucially on available financial resources. Cost recovery rates of these services are typically low, while demand for more reliable services is high and rapidly growing. Most stated preference-based demand studies in the developing world apply the contingent valuation method and focus on rural areas. This study examines household Willingness to Pay (WTP) for improved water supply services in a choice experiment in an urban area in Ethiopia, a country with the lowest water supply coverage in Sub-Saharan Africa. The design of the choice experiment allows estimation of the value of both drinking water supply reliability and safety. The estimated economic values can be used in policy appraisals of improved supply investment decisions. Despite significant income constraints, households are willing to pay up to 80% extra for improved levels of water supply over and above their current water bill. Women and households living in the poorest part of the city with the lowest service levels value the improvement of water quality most. As expected, also averting behaviour and expenditures play an important role. 相似文献