横向并购背景下的品牌整合——以美的集团为案例

国内外专门针对横向并购背景下的品牌整合问题鲜有研究.在文献综述的基础上,本文以美的集团为研究对象,采用规范的案例研究方法对其品牌整合战略、影响战略决策的关键因素以及品牌整合绩效进行了深入分析.在案例研究的基础上,进一步提出了四种品牌整合战略类型,结合案例分析中得到的六个影响因素及两个调节变量,将品牌整合绩效作为结果变量...     

Stock market volatility,the news,and monetary policy

The dynamic relationship linking the volatility of equity prices with “the news” and the expected path for monetary policy is investigated. Previous results that link the impact of the news about real activity to changes in current and future interest rates are employed in developing a positive link between changes in volatility and the news. Empirically, our results uncover a positive and statistically significant response of the CBOE volatility index, VIX, to unanticipated changes in employment, but not to inflation. Hence, agents' expectations for the policy response to news have an important influence on the expected volatility of stock prices. (JEL E44, E52)     

To tell or not to tell? The roles of perceived norms and self‐consciousness in understanding consumers' willingness to recommend online secondhand apparel shopping

Secondhand apparel shopping resides in a domain characterized by used goods traditionally associated with financially marginalized consumers. Acknowledging the elusive psychological barriers associated with preowned apparel, this study explores mechanisms that facilitate consumers' willingness to recommend online secondhand apparel shopping. Results from three experimental studies and a cross‐sectional survey of online secondhand shoppers in the United States reveal that hedonic and ethical benefits influence recommendation behavior via perceived norms, whereas economic benefit directly influences consumers' willingness to recommend. Moderated mediation analyses further demonstrate that self‐consciousness alters the strength of the indirect effects, such that consumers with lower self‐consciousness displayed greater willingness to recommend compared to highly self‐conscious consumers. Findings contribute to a greater theoretical understanding of the roles perceived norms and self‐consciousness play in facilitating or inhibiting recommendation behavior in a context that implicitly involves self‐disclosure of one's secondhand purchase behavior. Managerial implications offer insights on salient benefits that can be leveraged to influence word‐of‐mouth recommendation.     

To Be or Not to be Temp? An Analysis of the Moderating Role of Motives for Accepting Temporary Employment

We investigate the role of contract volition and motives for accepting temporary employment in the relationship between precariousness of life and negative psychological symptoms in a sample of 275 Italian temps. Results suggest that the negative effect of contract volition on negative psychological symptoms is partially mediated by precariousness of life. A moderated mediation model shows that specific motives moderate the negative effects of contract volition on precariousness of life, so that when contract volition is higher, workers with weaker motives feel less precarious. This study broadens our understanding of temporary employment outcomes by showing that the negative consequences of precariousness of life seem to be less troublesome among temporary workers with higher contract volition and lower motivation. © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Warehouse location problems for air freight forwarders: a challenge created by the airport relocation

The move of Hong Kong International Airport from the city centre to a suburban area in July 1998 provided sufficient capacity to meet the increasing demand of passenger and air-cargo flows in Hong Kong in the foreseeable future. However, the move has adverse side effects such as causing the readjustment of many existing systems and creating many imminent strategic problems. One of such problems is the warehouse location of freight forwarders: they have to decide whether they should locate their warehouses in the new airport, in current locations, or in new locations somewhere in the city. This paper delineates the results of a survey conducted in the summer of 1997 before the airport was relocated. The survey asked what decisions the freight forwarders had made and how they evaluated some potential warehouse locations. The paper also considers two mathematical models, which explain and predict, respectively, the location pattern of freight forwarder warehouses before and after the relocation of the airport.     

Labour Market Institutions and Household Consumption Insurance within OECD Countries

This paper tests empirically whether the effect of idiosyncratic income shocks on aggregate consumption depends on institutional features of national labour markets. The results show that, in a sample of 15 OECD countries, institutional heterogeneity is a significant determinant of the response of household consumption to country‐specific income shocks. This is consistent with the idea that institutionally provided social insurance may help increase income stability when people differ in their ability to access financial markets and smooth consumption fluctuations.     

Information search behavior of Hong Kong's inbound travelers‐a comparison of business and leisure travelers

Abstract

The purpose of this study is to examine the information search behavior of Hong Kong's inbound tourists, in particular business and leisure travelers. The study clearly shows that business and leisure travelers demonstrate different information search behavior. ‘Personal experience,’ ‘Travel agency/tour company,’ ‘Airlines’ and the ‘Internet’ are most frequently relied upon by business travelers in searching for travel information, while leisure travelers prefer ‘Travel agency/tour company,’ ‘Friends or relatives,’ ‘Travel guide books,’ and ‘Personal experience.’ The study also reveals that the total number of information sources used and the length of pre‐trip planning lead‐time are significantly different between these two groups of travelers. First time travelers also have a longer pre‐trip planning lead‐time than repeat travelers. Furthermore, business and leisure travelers perceive the levels of influence of several information sources, including ‘Corporate travel departments,’ ‘Friends or relatives,’ ‘Travel guide books,’ and the ‘Internet,’ differently. These information sources were classified into five different dimensions, including ‘Media,’ ‘Neutral,’ ‘Retail,’ ‘Interpersonal,’ and ‘Personal experience.’ Analysis based on travelers' purpose for traveling and demographic information was performed. Leisure travelers perceive the level of influence of ‘Neutral’ sources as significantly higher, and those with lower household incomes perceived the level of influence of ‘Personal experience’ as lower. The results of this study will allow marketers in Hong Kong to better understand travelers’ information search behavior so that they can more effectively tailor their marketing strategies to these two major markets.     

Key Managerial Accounting Skills for Lodging Industry Managers: The Third Phase of a Repeated Cross-Sectional Study

This study is the third phase of a repeated cross-sectional study that explores the current rankings of important accounting skills to lodging managers and the changes in the importance of accounting skills to lodging managers over time. In this study, as with two prior studies, financial executives were asked to rate the importance of a list of managerial accounting skills used by hotel general managers. The top three managerial accounting skills were the operating budget, the income statement, and analysis of variances. This study can provide a better sense of the perception of importance of accounting skills utilized by lodging managers. It will be useful for hospitality educators in designing the curriculum for managerial accounting courses to meet the expectations of the current hospitality industry.     

Tourism experiences,visitability and heritage resources in Saint Louis,Senegal

This paper studies heritage tourism experiences in the postcolonial World Heritage Site of Saint Louis, Senegal. Based on fieldwork and archival research, it shows the complexity and discrepancy linked with heritage presentation and design from the experiential realities encountered on the ground. The argument put forward is that colonial heritage, although it is simplified and controlled to meet specific tourist expectations by official authorities, appears to be dynamic, performative and subject to multiple interpretations from visitors, tourist guides and local residents. It further suggests that social and economic conditions of the communities living in the site affect the heritage space and shape vicariously or directly tourists’ experiences, despite professionals’ efforts of keeping the heritage visible in certain ways. The article extends its discussion to adjacent topics of power and gender issues, demonstrating how heritage tourism in postcolonial African context is intimately intertwined with the changing everyday realities of the communities.     

Market Reforms and Commodity Price Volatility: The Case of East African Coffee Market

The goal of this paper is to examine the impact of commodity market reforms on producer price volatility using evidence from the East African coffee market. The results, based on time‐varying volatility models and key summary statistics, show that coffee market reforms in the East African Community (EAC) are associated with changes in producer price volatility and volatility persistence at both country and regional levels. However, reforms were not the only cause of changes in price volatility. The study further shows that reforms had different effects on prices volatilities of Arabica and Robusta varieties of coffee grown in individual EAC countries. These findings have wider implication for commodity market reforms and producer price stabilisation policies in the EAC and coffee producing countries in sub‐Sahara Africa.