European Antitrust Policy 1957–2004: An Analysis of Commission Decisions

This paper provides a survey of  European antitrust law enforcement since its foundation in the Treaty of Rome of 1957 up to and including 2004. We present a complete overview and statistical analysis of all 538 formal Commission decisions under Articles 81, 82, and 86 of the European Community Treaty. We report a range of summary statistics concerning report route, investigation duration, length of the decision, decision type, imposed fines, number of parties, sector classification, nationality, and Commissioner and Director General responsible. The statistics are linked to changes in legislation and administrative implementation, thereby providing an historical overview that summarizes the Commission’s work in the area of antitrust. One or more appeals were filed with respect to 161 of the 538 decisions. We estimate the determinants of the size of the imposed fine and probability of appeal when an infringement has been found.     

Bank Disclosure and Market Assessment of Financial Fragility: Evidence from Turkish Banks’ Equity Prices

In this paper we explore whether Turkish banks with worsening indicators of financial fragility were subject to market monitoring during the years leading to the 2000/2001 crisis, and how the quality and timeliness of the disclosure affect market reaction. We find that shareholders reacted negatively to indicators of financial fragility such as increases in maturity mismatches, currency mismatches, and non-performing loans, showing shareholders’ concerns about the impact of financial fragility indicators on future profits. We also find that audited statements that show larger reporting lags, are not informative, pointing to the need of improving their timeliness. Finally, our study suggests that the finding that securities prices react to financial fragility indicators should not be taken as sufficient evidence of banks’ safety and soundness.     

Grosse Stadtwerke – theoretische und empirische Exploration eines besonderen Akteurs in der Energiewende Deutschlands und der Schweiz

Urban utility companies are key players in the Swiss and German energy sector. Due to the federalist and subsidiary governance structure of the two countries’ energy sector, they perform highly system relevant tasks, as e.?g. managing the distribution grids or ensuring the public services for “their city”. In the public and scientific discourse on the role of different actor groups in the energy transition, however, not much attention is paid to urban utility companies. This contribution aims at a theoretical and empirical exploration of these particular actors by analysing their characteristics, specific challenges and strategic answers in the context of the energy transition. For this purpose, the article derives analytical dimensions for the analysis of urban utility companies from scholarly literature on transition studies, network industries and public corporate governance and empirically analyses characteristics and the current situation of urban utility companies in Germany and Switzerland. Methodologically, this article is based on an explorative, qualitative study, which synthesises results from a literature analysis, a document analysis, 38 expert interviews in both countries (in 2017) and two expert workshops conducted in Switzerland (in 2018). The study shows, how the characteristics of urban utility companies can be explained based on public corporate governance and network industries literature. This also allows to identify and understand their particular challenges, as e.?g. the fields of tension among public and private interest in the firms and the multi-dimensional relationship of owner or the particularities of network industries. Finally, this article points out, that the role of urban utility companies in the Swiss and German energy transition is neither just “inhibitor” nor pure “innovator”, but can be labelled as “intelligent follower” and “engineer of the energy transition”.     

Systems approach in landscape design: a studio work

Landscape architects design the environment, which is an organic part, an outdoor extension of the building, according to the various functions of buildings. One of the most important objectives in design is to create a strong organization which forms a whole by combining different parts. While creating this organization, it is essential to establish relationships, make the designed elements related and obtain a unique design product. This relationship can be established only with the systems approach. It is a difficult process. For this reason, it was aimed in this study to teach Landscape Architecture students how to achieve designs meeting both creative and user needs. Thus, students will learn how to create successful open spaces with the high level of use which is one of the most important problems nowadays. In this respect, this article has two purposes. The first purpose is to create a study diagram by suggesting the systems approach theoretically. Student works will be evaluated according to this study diagram. The second purpose is to investigate the contribution of the course conducted with the systems approach to the design education. In this study, the systems approach was explained to the students of the Department of Landscape Architecture at Karadeniz Technical University and they were made to design the residence and its immediate surroundings within the scope of the 3rd semester. Then, the effect of the systems approach on the creative and applicable designs of the students was determined with the survey study conducted. The results of this study reveal the importance of the systems approach for both design education and urban designers.     

Understanding the identity of Ibiza,Spain

In order to understand a destination brand, it is essential to define what its identity actually is and the dimensions that it is made up of. Kapferer’s brand-identity prism (Kapferer, J. N. (1992). Strategic brand management: New approaches to creating and evaluating brand equity. New York, NY: The Free Press) is used to respond to these questions in the context of Ibiza, Spain. A qualitative analysis was performed using focus groups, considering tourists who had visited Ibiza in the past. The results indicate that the six dimensions of the Ibiza identity prism are embodied in ?????clubs and discotheques, an exciting personality, an atmosphere of harmony, moments of collective fusion, a clubber image, and the figure of a young, liberal tourist who loves to party. This identity is strong and stable over time, with limited possibilities for a radical repositioning.     

How to communicate sustainable tourism products to customers: results from a choice experiment

This multiphase and empirical study explores the best communication style for reaching different international tourism markets and provides an understanding of how purchase decisions could be better influenced in travel brochures. A pre-test experiment evaluated the perceived emotionality and rationality of communication elements in a fictional travel brochure designed for a typical beach holiday but managed according to sustainability principles. In phase two, a choice experiment was conducted to test how Swiss, German, British and US travellers could be influenced by varying visual and textual communication elements in the fictional brochure (based on Mexico for US respondents and Menorca for all others). The choice experiment produced 3006 responses from an online survey in the four countries. Results confirm a general preference for emotionally laden communication styles for sustainable tourism products, while respondents were indifferent to the emotionality of standard product feature communications. Respondents did not show a preference for the inclusion of a graph explaining the product's sustainability attributes.     

How long does celebrity meaning transfer last? Delayed effects and the moderating roles of brand experience,celebrity liking,and age

Extending previous research on celebrity endorsements, the study investigates whether the meaning of celebrities is transferred to endorsed brands and how transfer effects develop over time. Additionally, the moderating roles of brand experience, celebrity liking, and consumers’ age are investigated. The hypothesized effects are modeled using a propositional learning approach with an experimental repeated-measures design (panel data). Results confirm the assumed meaning transfer effect. In addition, the effects appear to be substantially stronger after about a week indicating some type of sleeper effect. Furthermore, the effects increase with increasing brand experience and celebrity liking. Adolescent consumers are not differently affected when compared to adults and controlled for the differing levels of brand experience. Results are discussed in light of propositional learning theory. Future areas of research are proposed.     

Emotional prototypes,emotional memory usages,and customer satisfaction

In this study, we investigated the positive and negative emotion concepts in the prototype perspective and then tested them on customer satisfaction. By studying 612 customers in luxury restaurants, we found that two levels of customer emotions (i.e. positive and negative emotions) as a super-ordinate level, 4 positive emotions (i.e. contentment, happiness, love, and pride) and 5 negative emotions (i.e. anger, fear, sadness, shame, and disgust) as a basic level, and 49 specific emotions as a subordinate level are significantly related to customer satisfaction. We also examined the moderating role of emotional memory (EM) usage in the relationship between consumers’ emotions and their satisfaction. We found that product (food and beverage)-related EM strengthens and service-related EM usage weakens the relationship between customers’ negative emotions and their satisfaction. Interestingly, we found that positive and negative emotions are significantly related to customer satisfaction regardless of experience and store-related EM usage.     

Social value and content value in social media: Two paths to psychological well-being

The unique characteristics and universal popularity of social media enable consumers to experience their customer value and thus improve their psychological well-being. Hence, it is important for researchers to investigate how consumers experience their customer value in this new media and demonstrate how managers can use the ensuing knowledge for designing appropriate marketing strategies. This article is a step toward that direction. We explore the antecedents and consequences of customer value in social media so as to provide a deeper insight into consumer behavior and subsequently discuss its managerial implications. Specifically, we develop a model that incorporates psychological well-being as the endogenous variable, interdependence self-construal and independent self-construal as exogenous variables, and social value, content value, social identity, self-esteem, and flow as mediating variables. Based on data from a sample of 437 social media consumers collected by an online survey and through analysis of the data by SPSS 22.0 and Amos 22.0 programs, the study revealed that consumers can gain psychological well-being by either of two paths: consumers with a higher degree of interdependent self-construal will have a higher degree of social value experience, thus leading to a higher degree of psychological well-being through a positive mediating role of social identity; whereas consumers with a higher degree of independent self-construal will have a higher degree of content value experience, thus leading to a higher degree of psychological well-being through a positive mediating role of self-esteem. Managers can segment the consumers based on their self-construal and design appropriate customer relationship strategies.     

Gender,generation and sustainable consumption: Exploring the behaviour of consumers from Izmir,Turkey

This study investigates the relationship between consumers’ sustainable consumption behaviour and both gender and generation‐related individual differences in a sample of Turkish consumers. A total of 393 participants from different generations and gender took part in the study. To measure sustainable consumption behaviour, we used four‐dimensional sustainable consumption behaviour scale. The results showed that generation is associated with unneeded consumption as a dimension of sustainable consumption behaviour. Consumers who are Baby Boomers found to have the highest level of unneeded consumption behaviour while Gen‐Zers have fewest. Additionally, data supported the association between gender and sustainable consumption behaviour. Women showed a higher level of sustainable consumption behaviour both in overall behaviour and tendency to reuse products. Taken together, the findings suggest that gender and generation of consumers can differentiate sustainable consumption behaviour. The implications of these findings, as well as the limitations and future directions, are also discussed.