MEASURING THE EFFECT OF NAPSTER ON RECORDED MUSIC SALES: DIFFERENCE‐IN‐DIFFERENCES ESTIMATES UNDER COMPOSITIONAL CHANGES

This paper measures the effect of Napster on record sales. I treat the introduction of Napster as a technological event that only Internet users experienced, and use a difference‐in‐differences (DD) approach. Because of potential compositional changes in Internet users, I examine identifying assumptions for the DD estimator under compositional changes and develop a test for identifying restrictions. To address potential bias due to compositional changes, I extend DD matching estimators to the case of two‐variate propensity scores. I find evidence suggesting that file sharing is likely to explain 20% of total sales decline, which is driven by households with children aged 6–17. Copyright © 2011 John Wiley & Sons, Ltd.     

Vanity and public self‐consciousness: a comparison of fashion consumer groups and gender

The purpose of this study was to compare vanity and public self‐consciousness between fashion consumer groups (fashion change agents, fashion followers) and genders. Vanity has four dimensions: concern for physical appearance, a positive (perhaps inflated) view of physical appearance, concern for achievement and a positive (perhaps inflated) view of achievement. Participants (284 women; 116 men; mean age = 21.16) completed scales measuring consumer vanity, public self‐consciousness and fashion innovativeness and opinion leadership. Women scored higher on vanity physical concern, vanity achievement concern, vanity achievement view and public self‐consciousness than men. Fashion change agents scored higher on vanity physical concern, vanity physical view and public self‐consciousness than fashion followers.     

Evaluation of credit guarantee policy using propensity score matching

In this article, we evaluate the effect of the credit guarantee policy by comparing a large sample of guaranteed firms and matched non-guaranteed firms from 2000 to 2003. The sample firms are compared with respect to growth rates of different performance indicators including: productivity, sales, employment, investment, R&D, wage level, and the survival of firms in the post crisis period. In order to avoid the selectivity problem, propensity score matching methodologies are adopted. Results suggest that credit guarantees influenced significantly firms’ ability to maintain their size, and increase their survival rate, but not to increase their R&D and investment and hence, their growth in productivity. Moreover, due to the adverse selection problem, firms with lower productivity were receiving guarantees.     

Exploring Progression along the Recreation Specialization Continuum Using a Latent Growth Approach

In recreation specialization the idea of progression largely has been relegated to an assumption. Fundamental questions about how leisure participants enter and progress through social subworlds remain. We examined panel data over a six-year period to look for evidence of progression among Texas anglers. Similar to previous studies, we were unable to detect forward movement along the specialization continuum. Results revealed strong individual differences in each subdimension of the developmental process. Our study adds to this literature by treating specialization in terms of its underlying subdimensions and by demonstrating latent growth modeling as a viable alternative to repeated measure analyses.     

Host country uncertainty,intra‐MNC production shifts,and subsidiary performance

This study examines whether or not production shifts occur among the foreign subsidiaries of multinational corporations (MNCs) under the influence of differing macroeconomic conditions in their host countries. This study compares intra‐MNC production shifts under the influence of exchange rate changes across different host countries. Our findings indicate that the increase of a subsidiary's production at the time of its host country currency depreciation decreases the production of other subsidiaries within the same MNC network. Our empirical evidence also shows that MNC subsidiaries that engage in production shifts with other affiliated subsidiaries command a higher performance. Copyright © 2012 John Wiley & Sons, Ltd.     

Strategic alignment and performance of market-seeking MNCs in China

This study explores the environment–strategy–performance relation of foreign firms, especially those with a market-seeking mandate, in China. The results indicate that the Analyzer orientation is best suited to the turbulent Chinese market, which has been undergoing an economic transition in recent years. There is also a significant difference in financial performance among market-seeking MNCs depending on strategic orientations, with the Analyzer orientation producing the highest performance. The Prospector and the Defender orientations lead to poor financial performance because of the mismatch with China's market, which is highly dynamic and complex. Our findings reiterate the importance of understanding local market traits and opportunities and developing proper strategic configurations for market-seeking MNC subsidiaries, especially in an emerging economy like China. Copyright © 2001 John Wiley & Sons, Ltd.     

A matter of degrees: exploring dimensions in the Ph.D. student–advisor relationship in hospitality and tourism education

This study investigated the Ph.D. student–advisor relationship by identifying supervision dimensions and studying their effects on perception on supervision. Using principal component analysis, affective characteristics, intellectual expertise, and external grant/funding factors were found to play important roles in establishing the Ph.D. student–advisor relationship. Regression analysis revealed that affective personality and intellectual expertise positively influence student’s perception on supervision. Implications for students and faculty are discussed.     

Quality function deployment: An extended framework for service quality and customer satisfaction in the hospitality industry

Research on service quality and customer satisfaction has become significant in the hospitality industry. Nonetheless, most previously proposed or introduced research paradigms have focused exclusively on customers without equally emphasizing the intra-organizational service generation and delivery processes. In contrast, this study considers both external and internal service management issues and subsequent service innovations based on the framework of Quality Function Deployment (QFD). QFD and its relationship to similar concepts are explained. Next, this study provides an overview of the QFD process and develops a hypothetical application in the lodging industry in order to illustrate future application and analysis strategies. Some benefits and disadvantages of the QFD process are discussed as compared to extant service quality and customer satisfaction paradigms. Finally, suggestions and directions are offered for future applications, with particular interest in hospitality-specific service management issues.     

On the equivalence of a class of affine term structure models

In specifying a finite factor model for the term structure of interest rates, one usually begins by modeling the dynamics of the underlying factors. In most cases, this is sufficient to completely determine the term structure model. However, a point that is often overlooked is that seemingly different specifications of the factor dynamics may generate indistinguishable term structure models, in the sense that they produce pathwise identical bond prices. Consequently, it is important to be able to determine, at the level of factor dynamics, the conditions under which the models they generate are indistinguishable. In the case of time-homogeneous affine term structure models (ATSMs), such conditions were first described in Dai and Singleton (J Finance 55:1943–1978, 2000). In this paper, we formalize and extend their results to a class of time-inhomogeneous ATSMs, and obtain a simple method for determining the indistinguishability of these models in terms of the underlying factor dynamics.