Experimental duopolies under price guarantees

This paper analyses inventory investment using a balanced panel of 82 Dutch firms. We start from the Lovell (1961) inventory model and amend it with cash flow to introduce capital market imperfections. The empirical evidence provides support for the relevance of capital market imperfections in explaining Dutch inventory investment. The results suggest that cash flow is a relevant variable omitted from the original Lovell model. The study provides a better understanding of inventory behaviour in general.     

Underdeveloped Other in country-of-origin theory and practices

Consumers and marketers employ extant sociocultural discourses to give meaning to the products they consume or sell. In this paper, we present data and analyses that illustrate the manner by which American consumers and marketers draw upon one such sociocultural discourse, development, in the context of “craft” objects. Beyond the focus on discourse, however, our intent is to apply a post-development perspective to the Otherness inherent in country-of-origin (COO) theory and practices. We critique the COO framework and see it as a ramification of, and further creator of, economic difference and hierarchy.     

Empowerment and Exploitation: Gendered Production and Consumption in Rural Greece

Globalization alters socio‐cultural patterns in many developing societies. For example, men and women typically work in new ways, sometimes to fulfill changing consumption desires. Women in developing societies who bring money or valued purchases into the home may experience improved status, particularly in a globalizing economy where increased income enables the purchase of new consumer goods. However, as suggested in this video, women in developing societies often find themselves still fulfilling traditional roles in both production and consumption. Women in the Greek island village of Sami face an increasingly complex situation as they undertake expanded economic roles through tourism while simultaneously responding to societal expectations of propriety and gendered subordination. This video portrays the changing socioeconomic landscape of Greek women in the context of tourism.     

Omnichannel approach: Factors affecting consumer acceptance

Abstract

The omnichannel approach is a new commercial opportunity that aims to offer consumers a unique and satisfying experience through any touch point. This research aims to understand the factors that might lead consumers to accept and use this new approach. The conceptual model was tested empirically using primary data collected from 210 Portuguese participants. The results reported suggest that perceptions of usefulness, ease of use, and compatibility have a positive effect on brand experience, which strongly affects the behavioral intention to use. Additionally, a moderation analysis, using user status as a moderator, shows that while usefulness is important to uniquely explain use intention for low frequency, ease of use is only a good predictor of use intention for high-frequency users. This research provides useful insights for academic research by shedding light on this new phenomenon, and simultaneously for businesses by deriving some implications for defining their omnichannel strategies.     

Negotiation protocol based on ordered weighted averaging and Fuzzy metrics

ABSTRACT

Negotiation Support Systems are used to exchange offers and to improve the negotiation process. Some methods are based on perspectives like heuristics in order to bring the negotiation protocol gradually closer to reality. These approaches can be important in real negotiation as they can help to improve skillsespecially in distributive bargaining. This paper proposes a Negotiation Support framework to provide the negotiator with recommendations on making decisions in a negotiation process. To input this idea into negotiation protocols, this paper suggests that some concepts based on OWA (Ordered Weighted Averaging) and some of its metrics (Orness, Dispersion) be included in the heuristics of a structured negotiation schedule. It is expected that the support provided will aid the negotiator to make decisions during the negotiation process, to learn from the elicitation and his own behavior the results obtained can help the negotiator improving his skills in the negotiation process.     

Stock Market Returns to Financial Innovations Before and During the Financial Crisis in the United States and Europe

Prior studies have focused on innovations in various contexts but largely excluded financial innovations, despite their notable importance. Not surprisingly, financial innovations account for a substantial portion of world economies and the huge market capitalization of banks. Therefore, the authors focus on studying the type, success, and causes of success of financial innovations. Using an event study and financial expert ratings, this study analyzes the types of and payoffs to 428 financial innovations by 39 major banks in North America and Western Europe between 2001 and 2010. The results indicate that security and credit instruments constitute the most common and insurance innovations the least common financial innovations, which vary substantially by economic cycles and location. The average cumulative abnormal stock market returns to a financial innovation are $146 million. They are twice as high in the United States as in Western Europe. Thus, the market considers financial innovations profitable, not harmful, despite their apparent responsibility for the financial crisis. Surprisingly, the cumulative abnormal stock market returns to financial innovations are higher in recessions than in expansions. The authors find that riskiness and radicalness of the innovation increases abnormal returns, while complexity decreases cumulative abnormal stock market returns. Two interaction effects stand out: Riskiness of financial innovations has higher cumulative abnormal stock market returns in the United States than in Western Europe. Radicalness has lower cumulative abnormal stock market returns in recessions than in expansions. The authors discuss important implications of the findings.     

Access to and Utilization of Flexible Work Options

Many workers do not utilize the flexible work options to which they have access nor do they necessarily have access to all options officially provided by their organizations. This study sheds light on these gaps using probit models with sample selection to predict access to and utilization of fourteen flexible options. The findings highlight the roles of supervisor support, occupation, and work‐life culture. The influence of each of these factors on access and utilization differs.     

What do i want? The effects of individual aspiration and relational capability on collaboration preferences

Research summary: We examine individuals' collaboration preferences in the Knowledge Transfer Network (KTN) for the UK plastics electronics sector. Using conjoint analysis, we investigate how aspiration gaps and relational capability affect the value placed on potential organizational collaborations. Aspiration gaps reflect individuals' perception of whether they are ahead of or behind peers on their career trajectory, and relational capability captures three distinct dimensions: networking skills, openness to collaborate, and network awareness. Our findings suggest that positive and negative aspiration gaps augment preferences to form organizational partnerships. These effects are positively moderated by networking skills and openness and negatively moderated by network awareness. We discuss the implications of these findings for theories of partnership formation, scientific collaboration, and behavioral strategy. Managerial summary: University–industry collaboration is important to the creation and application of new knowledge. Such collaboration requires individuals of different backgrounds to work together, which can be difficult. We investigate what drives individuals' preferences to collaborate. We find that individuals who consider themselves ahead of or behind their peers are more favorable toward collaboration. We also find that networking skill and openness augment this positive collaboration disposition whereas awareness of the network members makes one more selective and reduces the proclivity to collaborate. Copyright © 2015 John Wiley & Sons, Ltd.     

The relationship between mutual fund fees and expenses and their effects on performance

Fees charged by mutual funds include front-end load charges, deferred sales charges that decrease over time, redemption fees that are imposed whenever shares are sold, and 12b-1 fees. Fees may be justified if they allow the fund to lower other costs or improve performance. In this paper, we find that, on average, 12b-1 fees, deferred sales charges, and redemption fees increase expenses whereas funds with front-end loads generally have lower expenses. We also find that funds with 12b-1 fees and redemption fees, on average, earn higher risk adjusted returns but funds with front-end load charges earn lower risk adjusted returns.