Following brands on Twitter: an extension of theory of planned behavior

Due to its immediacy and efficiency, Twitter has recently emerged as a form of marketing communication tool that offers unique advantages for two-way communication between marketers and consumers. This study examines brand-following behavior on Twitter using the Ajzen's model of theory of planned behavior (TPB). Results show that attitude toward brand following, subjective norm, perceived behavioral control, and brand attachment are positively associated with intention to follow brands on Twitter. Consumers’ intention to create (i.e., intention to tweet at brands) and disseminate (i.e., intention to retweet the links of brands) brand-related information, as well as purchase intention, are the outcomes of intention to follow brands on Twitter. Overall findings suggest that TPB model can be used to predict Twitter users’ brand-following behavior. More importantly, our finding that brand attachment drives consumer intention to follow brands on Twitter extends the TPB framework. This study provides both theoretical and managerial implications.     

A logistic regression point of view toward loss given default distribution estimation

We propose a new procedure to estimate the loss given default (LGD) distribution. Owing to the complicated shape of the LGD distribution, using a smooth density function as a driver to estimate it may result in a decline in model fit. To overcome this problem, we first apply the logistic regression to estimate the LGD cumulative distribution function. Then, we convert the result into the LGD distribution estimate. To implement the newly proposed estimation procedure, we collect a sample of 5269 defaulted debts from Moody’s Default and Recovery Database. A performance study is performed using 2000 pairs of in-sample and out-of-sample data-sets with different sizes that are randomly selected from the entire sample. Our results show that the newly proposed procedure has better and more robust performance than its alternatives, in the sense of yielding more accurate in-sample and out-of-sample LGD distribution estimates. Thus, it is useful for studying the LGD distribution.     

Demarketing as a differentiation strategy

Demarketing discourages consumers from buying. This paper shows that demarketing can be a profitable alternative when differentiation through product improvements is not cost effective. The impact of differentiating demarketing on profit, market share, consumers, and total welfare is investigated.This research began while Hess was visiting MIT's Sloan School of Management and was finished while visiting University of Haifa; he thanks both for their support.     

社会事业家理论评析

1980年代末以来,关注民间组织卓越领导人的社会事业家理论开始建构.领袖-特质理论认为社会事业家是以其对社会使命的不懈追求和强烈的伦理整合性来促成社会价值的最大化.建构主义理论认为社会事业家嵌入特定的组织结构和规则当中,并致力于创造新的制度或改造既有制度.社会事业家有四种理想形态:传统的创业型社会事业家、传统的拓展型社会事业家、自给创业型社会事业家和自给拓展型社会事业家.我国应从理念到制度层面培育社会事业家.     

Does telic/paratelic user mode matter on the effectiveness of interactive internet advertising? A reversal theory perspective

Drawing on reversal theory (Apter, 2007), the current research proposes that internet users' metamotivational state (telic vs. paratelic) determines advertising interactivity's effectiveness. An online field experiment involving 141 Facebook and Twitter users tests this proposition. Research findings support telic state consumers form more positive attitudes toward a low-level interactive ad, whereas paratelic state consumers form more positive attitudes toward a high-level interactive ad. Further, this research shows that an arousal seeking tendency mediates the metamotivational state's impact on ad attitude.     

Predicting issuer credit ratings using a semiparametric method

This paper proposes a prediction method based on an ordered semiparametric probit model for credit risk forecast. The proposed prediction model is constructed by replacing the linear regression function in the usual ordered probit model with a semiparametric function, thus it allows for more flexible choice of regression function. The unknown parameters in the proposed prediction model are estimated by maximizing a local (weighted) log-likelihood function, and the resulting estimators are analyzed through their asymptotic biases and variances. A real data example for predicting issuer credit ratings is used to illustrate the proposed prediction method. The empirical result confirms that the new model compares favorably with the usual ordered probit model.     

Market timing: Recent development and a new test

Henriksson-Merton's market timing test suffers nontrivial size distortion when the event forecast is autocorrelated. A new test is suggested to detect the dependence of two autocorrelated binary time series. It complements the existing tests due to better test power.     

论金融开放条件下我国金融业的发展与监管

在经济金融全球化浪潮下,我国金融管理当局正努力消除因金融管制造成的“金融压抑”,通过制度调整扩大金融开放。WTO的加入,标志着我国金融开放迈出了实质性的一步,在此背景下改革和调整金融制度,加强金融监管,促进金融发展,具有重要的经济意义。     

The intranet's role in newcomer socialization in the hotel industry in Taiwan – technology acceptance model analysis

This study examined a research model for explaining the relationships of intranet adoption and newcomers' organizational socialization in the hotel industry. Data were gathered for a structural equation model (SEM) analysis, from 298 individual participants, who had only worked in a hotel for 6 months to 1 year. The research results demonstrated the mediation role of the perceived usefulness (PU) and perceived ease of use of the intranet. The SEM results also revealed that usage of the intranet did increase the extent of an employee's socialization into the organization. Moreover, PU has direct and indirect effects on socialization. Tests on gender and age differences were conducted. The invariance analysis of the theory model showed that both males and females demonstrated the same patterns in performing technology acceptance factors and socialization, whereas different age groups demonstrated significantly different paths. The direct effect of PU was not significant for the newcomers aged over 35.     

浅谈加强我国石油建筑企业的合同管理

市场经济既是契约经济也是法治经济,合同是商品交换的法律表现形式。合同联系着企业的经济往来。有效做好合同管理,是企业取得成功的一个重要法宝。由此可知,合同管理在企业中的作用至关重要。本文主要对石油建筑企业的合同管理进行了探讨。