Star power in the eye of the beholder: A study of the influence of stars in the movie industry

Organizations employ various risk-mitigation strategies to cope with the uncertainty in marketing new products. In the motion picture industry, an important strategy is to cast star actors and actresses in movies. The ultimate box-office success, however, depends on multiple stakeholders involved with financing, making, distributing, and watching the movie. In pursuing different goals and interests, the stakeholders may look for different aspects of star power to mitigate their own risk. This paper examines how the influence of stars varies across key stakeholders in the movie market. The results show that, in general, stars have a greater impact on the stakeholders involved in the earlier stages of movie development and exhibition (where the risks are greater) than on those in later stages. Movie project financiers and exhibitors are strongly and directly influenced by star power, but news media and movie audiences are influenced less and only indirectly. Situated at the early stage of the movie “value chain,” the financiers are most concerned with stars’ past box-office performance. Exhibitors, however, are influenced by the “match” between a star’s genre participation history and the genre of a specific movie. By contrast, news media and movie audiences are influenced indirectly through the stars’ impact on earlier stakeholders and their decisions. The findings shed light on the value of employing star elements in new products, the marketing of stars, and movie promotion strategies.     

Service failure,time pressure,and conscientiousness of service providers: the dual processing model perspective

Service providers often work under serious time constraints that increase the likelihood of service failure. This study uses a dual processing model to investigate how time pressure and the conscientiousness of service providers interact to influence service failure. This study hypothesizes that time pressure is positively related to service failure for health service providers with low levels of conscientiousness, but not for those with high levels of conscientiousness. A cross-sectional design and paper-based questionnaires were used. The study hypotheses were then analyzed using regression analyses. The results of this study supported the hypotheses. Moreover, the empirical findings support the dual processing model.     

Potential Impact of Climate Change and Armed Conflict on Inequality in Sub-Saharan Africa

This study investigates the potential impact of climate change and armed conflict on inequality in Sub-Saharan Africa (SSA). The system-GMM for a panel of 35 SSA countries is employed using annual data from 1997 to 2018. The empirical results indicate that armed conflict and climate are major drivers of inequality in SSA. The direct impact of the two determinants is more than the indirect impact. Also, the impact of armed conflict is more than the climate change. The coefficients of population growth, output growth, unemployment, natural rent, exchange rate and inflation rate are significant positive predictors of inequality in the SSA. The study advocates for a multidisciplinary inclusive growth strategy that prioritises the climate change reversal, de-escalation of armed conflict, population control, reduction of the unemployment rate and increasing informal sector productivity, to promote inclusive growth and reduce inequality. However, sequencing the policy targets relative to the magnitude of their impact on inequality is extremely crucial.     

Extending the determinants of currency substitution in Nigeria: Any role for financial innovation?

Existing literature suggests that macroeconomic and institutional factors are the drivers of currency substitution. The persistent and significant incidence of currency substitution during the period of mixed performance of macroeconomic variables suggests the existence of a knowledge gap on the drivers of currency substitution during the era of rapid technological innovation. To contribute to this literature, we augmented the traditional money demand model of the determinants of currency substitution to introduce financial innovation. We use Nigerian data from 2005Q1 to 2019Q4 and Pesaran et al. (2001, https://doi.org/10.1002/jae.616 ) autoregressive distributed lag (ARDL) bound test approach to cointegration to estimate the models. The results confirm the presence of short-run and long-run relationships between financial technology and currency substitution in Nigeria. In effect, the deployment of financial technology in developing payment system infrastructure creates additional incentives for economic agents to hold foreign currency deposit. Economic managers must, therefore, mainstream credible monetary and fiscal policies to moderate the effect of financial innovation on currency substitution.     

Authentic British food products: a review of consumer perceptions

Historically, soil, land, climatic constraints and individuals’ skills all contributed to the characteristics of regional food. Food, however, is also subject to the influences of colonialism, immigration, cultural exchange, international trade, improved distribution and technology. British food is constantly evolving in order to fulfil the demands of each generation. Thus, the concept of an authentic British food product is becoming increasingly unclear. This paper therefore addresses what today British consumers actually perceive to be authentic British foods. Results of an exploratory qualitative study are reviewed. Five focus groups were conducted with individuals responsible for half or more of their household’s shopping. The groups incorporated consumers with a range of demographic and economic characteristics. The data gathered from the focus groups revealed that British perceptions of authenticity relate to both artisan as well mass‐produced, branded products. In addition, five dimensions affecting consumer perceptions of an authentic British food product were identified, including: uniqueness to Britain, a cultural or traditional association with Britain, characteristics of the production process, the presence of an authority and specific extrinsic characteristics of the product. The findings have implications for product differentiation and communication, for producers and retailers and also for independent trade associations.     

Controlled infection! Spreading the brand message through viral marketing

Viral marketing uses electronic communications to trigger brand messages throughout a widespread network of buyers. The process is often portrayed as a random ground-up phenomenon over which marketers have little control. But an examination of successful viral marketing cases identifies a number of strategies underpinning this chaotic phenomenon, providing insight into how marketers can use it to position their brands, change their image, and increase adoption rates. Successful viral marketing campaigns are comprised of an engaging message that involves imagination, fun and intrigue, encourages ease of use and visibility, targets credible sources, and leverages combinations of technology.     

上海世博会河北巡展精彩纷呈

2008年4月10日,由世博集团上海现代国际展览公司全程协助上海世博会事务协调局新闻宣传部,负责设计制作的"走进世博会"大型展览于4月10日上午在石家庄市人民会堂隆重开幕。开幕式之后,上海世博会吉祥物"海宝"的大型塑像安放在石市人民会堂南门两侧,据了解这是"海宝"第一次走出上海,并且将永远留在河北。     

ANALYST BEHAVIOR SURROUNDING TENDER OFFER ANNOUNCEMENTS

We examine the usefulness and credibility of analyst recommendations by focusing on their behavior surrounding tender offer announcements. For our 1998–2001 sample, we find analysts did not identify takeover targets through their recommendations nor did they distinguish between wealth‐increasing and wealth‐decreasing tender offers. We find some evidence of conflicts of interest in analyst recommendations, but it is confined to the 1999–2000 dot‐com period. However, the long‐run performance following recommendations suggests that these conflicts have little ultimate cost to investors.     

Cognitive representations of the future: Survey results

This paper reports the results of a web-based survey concerning how people think about the future. Five hundred and seventy-two people from 24 countries completed the survey. The results indicate that when the respondents hear the word ‘future’, they think about a point in time 15 years into the future, on average, with a median response of 10 years. Respondents think less about the future than the present. On the other hand, they tend to worry more about the future than the present. Respondents’ ability to imagine the future goes ‘dark’ around 15-20 years into the future. Most of the respondents are optimistic about the near term, but become more pessimistic about the longer term. Respondents believe that humankind is not acting very responsibly with respect to a whole host of environmental and social issues but is acting responsibly with respect to technology. Almost half of the respondents would not wish to have been born in the future. Most of the other respondents would have preferred to have been born 50-500 years into the future. Approximately 45% of the sample believes that humankind will become extinct. The data suggest that Christians are more optimistic and less worried about the future and do not believe that we will become extinct. Males worry less but also think more about the future. There is a strong correlation between thinking about the future, clearly imagining the future, and being optimistic about the future. It is concluded that individuals have diverse and rich conceptions about the future but that they think less about the future than futurists might hope. Individuals’ considerations of the future are highly influenced by their identities and worldviews. Future research should focus on better unraveling these relationships and on understanding their implications for futures-oriented policy making.     

House Prices, Fundamentals and Bubbles

Abstract:  This paper studies actual (real) house prices relative to fundamental (real) house values. Such a focus is warranted since housing constitutes a large fraction of most household portfolios, and its characteristics are such that, in contrast to what prevails in financial markets, arbitrage will be limited and hence correction toward 'true' value is likely to be a prolonged process. Using UK data and a time-varying present value approach, our results preclude the existence of an explosive rational bubble due to non-fundamental factors. We further find that intrinsic bubbles have an important role to play in determining actual house prices although price dynamics appear to impact, particularly in periods of strong deviation from fundamental value. Price dynamics are found to be driven by momentum behaviour.