Anticipatory consumer socialization

While most consumer socialization research has focused upon the development of consumer orientations that young people can enact, little research exists on how children and adolescents develop consumer orientations that have relevance for adult consumer behavior. This article addresses the concept of anticipatory consumer socialization by focusing on a variety of consumer cognitions and how they are acquired.     

THE ADOPTION OF NEW-ISSUE DIVIDEND REINVESTMENT PLANS AND SHAREHOLDER WEALTH

This study examines security price reactions to the adoption of new-issue dividend reinvestment plans. The sample is broken down into three subsamples: nonutilities, utilities adopting plans prior to May 1981, and utilities adopting plans after July 1981. For the nonutility corporations, no significant market reaction is observed. The utilities adopting prior to the change in the tax law experience a negative reaction the day following registration for the plan. Corporations adopting after July 1981, whose dividends receive preferential tax treatment, experience abnormal returns significantly greater than those of the utilities without preferential tax treatment.     

Gambling And The UK National Lottery

The British National Lottery has now been running for almost three years and it arouses social and ethical misgivings in several quarters, whether in its contribution to the British gambling scene or in the size and distribution of its prizes or in its contributions to the good causes which it was introduced to benefit. Bringing wide experience and an expert eye to analyse and comment on the lottery, Dr Moore, DSc PhD FIA, is Emeritus Professor of Decision Sciences at London Business School, Sussex Place, Regent's Park, London NW1 4SA.     

EQUITY VALUATION EFFECTS OF FORCED WARRANT EXERCISE

We examine stock price reactions to announced calls of in-the-money warrants and find a significant average devaluation in excess of 4 percent, consistent with the recent literature. We test theoretical predictions based on asymmetric information, agency costs, and corporate control in a cross-sectional model of announcement-period returns and find support for voting rights and ownership dilution as an explanation. We find evidence of some price recovery after the call announcement; however, further evidence of a liquidity-based explanation is mixed.     

Analyzing the Temporal Stability of Appraisal Model Coefficients: An Application of Ridge Regression Techniques

The use of multiple regression analysis as a tool of real estate valuation has received considerable attention in recent years. The primary objectives of this study are to investigate the multicollinearity among the property characteristics (regressor variables) and examine the stability of the estimated regression coefficients over time. Ridge regression techniques are used to partially adjust for the presence of collinearity. The results indicate that the ridge regression model provides a consistent set of properly signed, statistically significant regression coefficients throughout the sample period. Furthermore, ridge regression techniques are shown to have certain advantages over those of ordinary least squares for establishing logical and consistent values for specific property characteristics.