Do frequency reward programs create switching costs? A dynamic structural analysis of demand in a reward program

This paper examines a common assertion that customers in reward programs become “locked in” as they accumulate credits toward earning a reward. We define a measure of switching costs and use a dynamic structural model of demand in a reward program to illustrate that frequent customers’ purchase incentives are practically invariant to the number of credits. In our empirical example, these customers comprise over 80% of all rewards and over two-thirds of all purchases. Less frequent customers may face substantial switching costs when close to a reward, but rarely reach this state.

Interaction of market and credit risk

Experience during the financial crisis illustrates that the integrated measurement and management of different forms of risk remains a challenge for industry practitioners, researchers and financial supervisors alike. In the context of related literature, this article summarizes new research on the interaction of market and credit risk and implications for risk management that is presented in this special issue. The research covered highlights in particular the errors that can occur in the aggregation of the two types of risk and the strong relationships between them that suggest caution in the use of pragmatic distinctions between them. The article also touches on some research-based lessons for supervisory policies and suggests some directions for future research.     

Organisational design implications of global sourcing: A multiple case study analysis on the application of control mechanisms

Global sourcing has become an intended practice for many multinational corporations. Organisational design implications of global sourcing are rarely considered although they are one of the main facets of a global sourcing strategy. By elaborating on the information processing perspective of contingency theory, we derive explanations for the application of different control mechanisms in the global sourcing context. Our findings from case studies at eight multinational companies suggest that variations in control mechanisms can be explained by two contingencies: (1) corporate organisational structure and (2) the distribution of purchasing expertise among subsidiaries. Based on these case study findings, we formulate ten propositions for future research.     

Non-classical Algorithm for Time Series Prediction of the Range of Economic Phenomena With Regard to the Interaction of Financial Market Indicators

The aim of the article is to present non-clasical copyrighted algorithm for prediction of time series, presenting macroeconomic indicators and stock market indices. The algorithm is based on artificial neural networks and multi-resolution analysis （the algorithm is based on Daubechies wavelet）. However, the main feature of the algorithm, which gives a good quality of the forecasts, is all included in the series analysis division into, a few partial under-series and prediction dependence on a number of other economic series. The algorithm used for the prediction, is copyrighted algorithm, labeled M.H-D in this article. Application of the algorithm was performed on a series presenting WIG 20. The forecast of WIG 20 was conditional on trading the Dow Jones, DAX, Nikkei, Hang Seng, taking into account the sliding time window. As an example application of copyrighted model, the forecast of WIG 20 for a period of two years, one year, six month was appointed. An empirical example is described. It shows that the proposed model can predict index with the scale of two years, one year, a half year and other intervals. Precision of prediction is satisfactory. An average absolute percentage error of each forecast was： 0.0099%---for two-year forecasts WIG 20; 0.0552%--for the annual forecast WIG 20; and 0.1788%---for the six-month forecasts WIG 20.     

Executive career success in search-firm-mediated moves across employers

This paper integrates the economic and sociological literatures on market intermediaries to examine the ways in which a labor market intermediary, executive search firms, alter career outcomes for executives who move across organizations. Analyses of the proprietary dataset of a large multinational executive search firm show that executives whose moves are mediated by the search firm are more likely to obtain a promotion or move to a larger and more reputable new employer than those who move without such mediation, but they are not more likely to move to a developmental assignment: one in a new function or in a new industry. The results suggest that the search firm constrains executives' options by matching their existing knowledge and skills with open positions.     

Causal relations between nominal exchange rates and monetary fundamentals in Central and Eastern European countries

The purpose of this paper is to investigate the causal relations between nominal exchange rates and monetary fundamentals. The analysis is conducted using panel quarterly data from the period 2001–12 for Central and Eastern European countries (including Turkey) with relatively flexible exchange rate regimes. The paper reconnects the empirical literature on exchange rates in Central and Eastern European countries with the most recent findings on exchange rate determination in advanced economies. Kóyna's approach, which accounts for linkages between countries, is used in the study. The main findings indicate the existence of causal relations running from both nominal exchange rates to monetary fundamentals and in the opposite direction as well as the existence of a relatively strong link between exchange rates and differentials in the relative price of non‐tradables.     

Uncovering the supplier selection knowledge structure: A systematic citation network analysis from 1991 to 2017

Because of the critical role supplier selection plays in organizational success, both practitioners and academics have expressed a strong interest in the subject area generating an extensive body of research. The volume and breadth of publications in this area makes it difficult to understand the knowledge structure of the field and the academic work that has influenced the evolution of the domain.This mixed-method study systematically reviews 246 papers that investigated supplier selection issues and were published between 1991 and 2017. We initially examined the statistics of papers by unveiling influential journals, affiliations and articles. Second, we utilized co-citation network analysis, an objective procedure to extract clusters of what has been researched in supplier selection literature. The study analytically retrieves six major knowledge clusters: 1) conceptual foundation of the field; 2) modeling of the procurement environment; 3) handling group-decision making and unprecise input data; 4) computational research; 5) green/sustainable research and 6) risk-based supplier selection. Finally, we conducted main path analysis to get an overview of the evolution of knowledge in the supplier selection field by uncovering its major paths and key articles.