Modelling of customer retention in multi-format retailing

The objective of this study is to offer a model of the formation process of loyalty towards the services provided by retail food companies. Specifically, the case of a Spanish company, which is a leader in the retail food market is taken. The company operates using different retail formats, and it has customers with various levels of loyalty and behavioural patterns. The research tries to determine implications for managing the loyalty towards the company. Different customer groups are analysed. Four working hypotheses are proposed and contrasted through the formulation and estimation of two theoretical models or conceptual maps. After the empirical analysis, the proposed models show a good fit, and the formulated hypotheses are confirmed. By using this kind of modelling, the companies that operate under the considered framework may reach significant conclusions prior to making decisions in the area of customer retention.     

开创兴边富民之路——黑河-布拉戈维申斯克中俄边民互市贸易区发展战略研究报告

《开创兴边富民之路———黑河———布拉戈维申斯克中俄边民互市贸易区发展战略研究报告》是黑河市几位同志历经一年多的时间深入调查、认真研究、刻苦探索完成的中俄边民互市贸易软科学课题研究。这个研究报告资料翔实丰富 ,分析透辟入里 ,思路清晰严谨。具有理论的超前性、操作的实用性 ,示范的典型性 ,为推动中俄边民互贸区的建设提供了重要参考价值。整个研究报告 370 0 0字 ,分 8个部分 ,即 :发展进程、战略意义、发展条件、战略构想、效益分析、战略措施、现实问题、附件。经作者同意 ,本刊选择其中“战略构想”、“战略措施”、“现实问题”三个部分予以发表     

Employees' overestimation of functional and relational service quality: A gap analysis

This study extends previous research on gap analysis of service quality by including not only functional service quality but also relational benefits. To this end, a field study was carried out in 36 hotels and 35 restaurants. The samples consisted of 213 employees and 657 customers. A questionnaire format was used to measure both functional and relational service quality, as well as customers' loyalty. When comparing employee and customer perceptions, gaps potentially range from ‘overestimation’ (employees' perceptions are greater than customers' perceptions) to ‘underestimation’ (customers' perceptions are greater than employees' perceptions). In general, the results indicated that the employees surveyed overestimated the service quality they offer to customers, although gaps were greater for certain service attributes than for others. In addition, some gaps were more related to customer loyalty than others. The findings also showed that employees' overestimation of relational benefits plays a moderating role, increasing the negative relationship between employees' overestimation of functional service quality and customers' loyalty. The theoretical and managerial implications of the results are discussed further in this paper.     

Can sustained growth be attained through trading exhaustible resources for foreign research?

We analyze the existence and the stability of a sustained balanced growth equilibrium (SBE) in a model of two non-homogeneous trading economies. A technological leader country which sells patents of new intermediate products in exchange for an exhaustible resource extracted by a technological follower trade partner. Considering a growth-essential resource, the ‘knife-edge’ assumption of exactly constant returns to scale (CRS) to manmade inputs can be alleviated, and the scale effects associated with R&D-based growth models overcome. A fully endogenous SBE is proven to exist, although its stability turns out to be a ‘knife-edge’ possibility. The long-run equilibrium is saddle-path stable assuming CRS in manmade inputs. Conversely, considering increasing returns to scale together with a completely specialized two-country trade, the equilibrium could be reached only if the two economies initially guard a particular relation, described by a particular subset of the state space.     

Heterogeneous nonmarket benefits of managing white pine bluster rust in high-elevation pine forests

This article describes a nonmarket valuation study about benefits of managing the invasive disease white pine blister rust in high-elevation forests in the Western United States. Results demonstrate that, on average, households in the Western United States are willing to pay $154 to improve the resiliency of these forests. Factor analysis shows that long-run protection of the forests dominates recreation in motivating support. Cluster analysis suggests three groups of survey respondents: those indifferent to the program and not willing to pay, those wanting to protect the future of the high-elevation forests, and those wanting to protect both the forests and related recreational opportunities.     

Bank presence in firm equity: A diversification based approach

This study analyses the possible reasons for banks deciding to invest in firm equity, based on the fundamentals of the strategic diversification literature. Those fundamentals suggest that it may be in response to the negative evolution of other aspects of banking business, namely, credit business, fixed interest business and services, as well as the bank's level of efficiency. The results confirm the hypotheses that the decision to hold equity in other firms is related to the evolution of the bank's other businesses. However, the results for savings banks differed from those for banks.     

Cross-Cultural Examination of Relationship Quality

ABSTRACT

This study of relationship quality contributes to the field of global industrial services marketing by examining relational and economic determinants and an outcome of relationship quality in a cross-cultural setting. The sample includes 202 buyers of industrial services from 42 countries. A conceptual model is proposed and tested using structural equation modeling. The study concludes that a buyer's expectation of continuity with a service provider is influenced more by relationship quality than by perceived economic value. Relationship quality, in turn, is impacted by perceived economic value, relationship bonds, and relationship investments. Results partially confirm the interpersonal predispositions of collectivist cultures. For example, buyers from collectivist cultures place significantly more emphasis on relationship investments than do buyers from individualist cultures. These findings have important implications for marketing theory and practice.     

Sustainable Development and the Financial System: Society's Perceptions About Socially Responsible Investing

The debate surrounding the financial needs of investors and the impact on society of investment is considered to be an important research topic due to the growth of socially responsible financial markets. The main objective of this research is to study society's perception about socially responsible investing (SRI) and to identify investor's preferences regarding environmental, social and governance criteria, their real‐life investment needs and the most relevant sustainable financial products. To examine society's perception of SRI, we conducted a field survey among Spanish investors. The results show that SRI is at an early stage and Spanish investors need more exact information regarding social, environmental, and governance criteria in order to invest in socially responsible companies and products. This paper offers some guidelines that could be used by Spanish institutions, managers and investors and by foreign managers when approaching the Spanish market, in order to promote the growth of socially responsible financial products. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.     

Gender and management on Spanish SMEs: an empirical analysis

Few studies have investigated the presence of women on the boards of directors of companies. Those that have been done have focused on large firms. In this study we analyzed the gender diversity of a sample of Spanish small and medium enterprises. These firms are of great importance in terms of their number, the employment they provide, and their sales. Furthermore, there is an open debate in Spain about gender equality after the passing of several laws against gender discrimination. We found that women's presence on boards generates a negative impact on firm performance and this result may be due to less risky strategies implemented by women directors. This finding is interesting because it sheds light on how women can affect the functioning of a board. We also found that family firms and firms with a financial institution as the main shareholder tend to have more women on the board. Finally, we show that firms with less debt, more assets, and larger boards have more women as directors.