Restorative advertising in the airline sector

It is sometimes contended that large airlines cut their advertising expenditure in reaction to major accidents and postpone it until after the memories of accidents have dissipated. This paper assesses the relationship between safety perceptions and airline advertising expenditure based on the assumption that consumers have updating beliefs and dissipating memories. The results suggest that large airlines do not vary their advertising in reaction to accidents resulting in minor or serious injuries, but appear to decrease advertising expenditure in response to fatal accidents.     

Impact of organizational and buyer characteristics on the buying center

A mail survey of 200 organizational buyers was conducted to determine if the number of individuals in the buying center or the amount of perceived self-influence varied by organizational and buyer characteristics or by the type of purchase decision. The results of the study indicate that the type and size of the firm, as well as the buyer's educational level, affect both the number of individuals in the buying center and the amount of perceived self-influence of the organizational buyer. The results further indicate that the size of the buying center increases and the amount of perceived self-influence decreases as the purchase decision becomes more complex.     

A comparison of the performance of open-and closed-end investment companies

This paper investigates the impact of corporate structure on the return performance and related operational characteristics of open- and closed-end investment companies. A statistical model is used to test for differences in several characteristics of these two different types of funds. The results show that there are differences in the returns of open-and closed-end funds, as well as differences in turnover and expenses of funds with different corporate structures. Moreover, the results are surprising in that they are significantly affected by the type of security held in the funds.     

Strategic benefits to firms issuing private equity placements

For young technology firms, acquiring resources can often be costly due to the information asymmetry and uncertainty that exist surrounding the new technology. We contend that firms able to issue private equity can better manage their ability to mobilize three kinds of resources: capital, research partners, and commercial partners. We investigate the existence of long‐term, strategic benefits to private placements, and a number of factors may determine the long‐term effectiveness of this governance form. Overall, the empirical analyses demonstrates that private placements provide long‐term benefits to firms by reducing hazards associated with information asymmetry. Copyright © 2003 John Wiley & Sons, Ltd.