Short Reports

As the US population ages, more older adults will face transportation and mobility challenges. This study examines the characteristics and contributing circumstances of nonfatal older adult pedestrian injuries. Data were obtained from the National Electronic Injury Surveillance System-All Injury Programme (NEISS-AIP) for the years 2001 through 2006. Cases included persons aged 65 years and older who were nonfatally injured on a public roadway. The results indicated that on average, an estimated 52,482 older adults were treated in emergency departments each year for nonfatal pedestrian injuries. Falling and being hit by a motor vehicle were the leading mechanisms of injury, resulting in 77.5% and 15.0% of older adult pedestrian injuries, respectively. More than 9000 older pedestrian fall-related injuries each year involved a kerb. It is concluded that the growth in the older adult population could add to the overall burden of these nonfatal pedestrian injuries. Making transportation and mobility improvements, including environmental modifications, is important for preventing these injuries.     

The limits to stock index arbitrage: Examining S&P 500 futures and SPDRS

This study examines factors affecting stock index spot versus futures pricing and arbitrage opportunities by using the S&P 500 cash index and the S&P 500 Standard and Poor's Depository Receipt (SPDR) Exchange‐Traded Fund (ETF) as “underlying cash assets.” Potential limits to arbitrage when using the cash index are the staleness of the underlying cash index, trading costs, liquidity (volume) issues of the underlying assets, the existence of sufficient time to execute profitable arbitrage transactions, short sale restrictions, and the extent to which volatility affects mispricing. Alternatively, using the SPDR ETF as the underlying asset mitigates staleness and trading cost problems as well as the effects of volatility associated with the staleness of the cash index. Minute‐by‐minute prices are compared over different volatility levels to determine how these factors affect the limits of S&P 500 futures arbitrage. Employing the SPDR as the cash asset examines whether a liquid tradable single asset with low trading costs can be used for pricing and arbitrage purposes. The analysis examines how long mispricing lasts, the impact of volatility on mispricing, and whether sufficient volume exists to implement arbitrage. The minute‐by‐minute liquidity of the futures market is examined using a new transaction volume futures database. The results show that mispricings exist regardless of the choice of the underlying cash asset, with more negative mispricings for the SPDR relative to the S&P 500 cash index. Furthermore, mispricings are more frequent in high‐ and mid‐volatility months than in low‐volatility months and are associated with higher volume during high‐volatility months. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28:1182–1205, 2008     

A darker side of knowledge transfer following international acquisitions

We consider a knowledge flow that dominates the international acquisition context but can actually harm foreign acquired firms' performance: non–location‐specific knowledge transfer from acquirers to acquired firms (N‐LSKT). Considering its behavioral consequences, we argue that such knowledge transfer often may destabilize existing power structures in foreign acquired firms prompting conflict and power struggles, and as a result negatively affects their performance. We find support for this adverse knowledge transfer effect. Only at very high levels of N‐LSKT, when acquirers are likely to extend their own capabilities and associated power structures more completely, do the performance effects improve. Further, predeal success of acquirers and post‐deal functional integration amplify, while acquirers' strategic control over the acquired firm alleviates the generally negative effects of N‐LSKT. Copyright © 2015 John Wiley & Sons, Ltd.     

The Commodification of Race in Singapore: The Customer Service Implications of the Other-Race Effect on Tourism and Retailing

This paper examines the phenomenon known as the other-race effect, which is the ability to recognize the faces of those of one race, easier than the faces of those from another race. Typically, the race that is easier to recognize is the individual's own race, and most previous research has focused on this type of comparison. This study, though, analyzes the ability of Chinese Singaporeans to recognize the faces of people of color versus White faces in a customer service context, and compares those results with the ability of White subjects in the United States to recognize the same faces. This approach is particularly applicable to the Asia Pacific region. Tourism accounts for a significant part of the regional economies, and marketers are becoming more sensitive to the changing needs of the multicultural marketplace where inter-racial interactions between customers and service providers in retailing and tourism are on the rise. Results of the research indicate evidence of the other-race effect. Asians who were more exposed to people of color than to Whites, recognized Black faces better than White faces. The results are interpreted based on the theoretical premise that people are better at recognizing faces of races for which there is a higher level of interaction, exposure, and familiarity.     

Producer Experience, Learning by Doing, and Yield Performance

Current crop insurance rating procedures consider only performance for the individual crop in question. Recent farm legislation has given producers considerable planting flexibility and, as a result, many have shifted to new crops. Producers without a production history for the new crop may be offered levels of insurance that do not accurately reflect their expected yields. Likewise, premium rates may not reflect a producer's actual risk for a new crop. We examine the extent to which information about expected yields may be gleaned from a consideration of historical performance on other crops. We also consider the extent to which yield performance exhibits learning by doing such that yields improve with experience. Though the results are mixed, we generally find that yield performance tends to improve with experience. However, when yields are conditioned on historical yield performance for other crops, the importance of experience is diminished significantly. Yield performance is related to a number of farm characteristics. Finally, we examine the extent to which yield variability is correlated across crops for individual farmers. Implications for crop insurance rating practices are discussed. The results demonstrate robust correlation between a farm's historical yield on other crops and a newly produced crop—a factor largely ignored in current crop insurance contracts.     

Antecedents of consumers’ intention to visit food trucks

The food truck industry has become a national phenomenon in the United States by gaining attention and praise. However, there has been limited attention on how and why consumers decide to patronize food trucks. The purpose of the study is to investigate determinants of consumers’ intention to patronize food trucks by applying the model of goal-directed behavior. Structural equation modeling was employed to assess the relationships among constructs in the proposed research model. This study contributes significant theoretical and practical implications by first attempting to examine what specific psychological variables influence the decision-making process regarding consumers’ intention to visit food trucks.     

Motivations behind Consumers’ Organic Menu Choices: The Role of Environmental Concern,Social Value,and Health Consciousness

This study aimed to examine underlying motivations of consumers’ intention to visit a restaurant featuring organic menu items and willingness to pay (WTP) for organic menu items. In particular, this study incorporated environmental concerns, social value, and health consciousness as key motivators. An online survey was conducted with a self-administered questionnaire, and a total of 473 responses were analyzed using structural equation modeling. The results showed that environmental concern was the strongest predictor of WTP, followed by social value and health consciousness, whereas health consciousness was the most influential factor on intention to visit, followed by social value and environmental concern.     

RV Traveler’s Pull Factors to Campgrounds in Leisure Tourism

The purpose of this study was to identify the underlying structures of RV traveler’s pull factors to campgrounds and confirm the results by using exploratory factor analysis and confirmatory factor analysis with multiple data sets. The results identified the following five dimensions of the campground traveler’s key attributes: Activity, Amenity, Essentials, Price, and Store. The “Essentials” factor had a grand mean of 4.47, which was the highest among the five factors. Therefore, campground owners and managers should pay extra attention to maintaining a high quality on those essential attributes first, before considering adding or promoting any other items.     

The influence of cause-related marketing on consumer choice: Does one good turn deserve another?

Are consumers more likely to select brands offered by companies that engage in cause-related marketing (CRM)? Somewhat surprisingly, little evidence exists that directly addresses this issue. Accordingly, the present examination investigates whether and when CRM efforts influence consumer choice. The results from several studies indicate that information regarding a company’s support of social causes can affect choice. However, CRM’s influence on choice is found to depend on the perceived motivation underlying the company’s CRM efforts as well as whether consumers must trade off company sponsorship of causes for lower performance or higher price. The results also indicate that CRM cues affect choice primarily through compensatory strategies involving trade-offs rather than through noncompensatory strategies. Implications of the current findings for existing theory are discussed along with directions for future research.