Price‐matching guarantees

Are price‐matching guarantees anticompetitive? We examine the incentives for price‐matching guarantees in markets where information about prices is costly. The conventional explanation of price matching as facilitating cartel pricing finds some theoretical support, but our model provides an additional explanation. A price‐matching guarantee may be a credible and easily understood means of communicating to uninformed consumers that a firm is low priced. The credibility of the signal is assured by the behavior of informed consumers. We contrast the testable implications of our model with those arising from two theories of price matching as anticompetitive, and show that available evidence supports the signalling theory.     

Risk assessment in internal auditing: a neural network approach

Risk assessment is a systematic process for integrating professional judgments about relevant risk factors, their relative significance and probable adverse conditions and/or events leading to identification of auditable activities (IIA, 1995, SIAS No. 9). Internal auditors utilize risk measures to allocate critical audit resources to compliance, operational, or financial activities within the organization (Colbert, 1995). In information rich environments, risk assessment involves recognizing patterns in the data, such as complex data anomalies and discrepancies, that perhaps conceal one or more error or hazard conditions (e.g. Coakley and Brown, 1996; Bedard and Biggs, 1991; Libby, 1985). This research investigates whether neural networks can help enhance auditors’ risk assessments. Neural networks, an emerging artificial intelligence technology, are a powerful non‐linear optimization and pattern recognition tool (Haykin, 1994; Bishop, 1995). Several successful, real‐world business neural network application decision aids have already been built (Burger and Traver, 1996). Neural network modeling may prove invaluable in directing internal auditor attention to those aspects of financial, operating, and compliance data most informative of high‐risk audit areas, thus enhancing audit efficiency and effectiveness. This paper defines risk in an internal auditing context, describes contemporary approaches to performing risk assessments, provides an overview of the backpropagation neural network architecture, outlines the methodology adopted for conducting this research project including a Delphi study and comparison with statistical approaches, and presents preliminary results, which indicate that internal auditors could benefit from using neural network technology for assessing risk. Copyright © 1999 John Wiley & Sons, Ltd.     

Environmental supply chain management in the construction sector: theoretical underpinnings

Environmental implications of a product/project are typically spread across its supply chain, from design through to end-of-life. This is particularly acute for construction sector because of the inherent nature and complexity of its supply chain. The sector, therefore, could benefit from the application of environmental supply chain management (ESCM), a systematic and integrated approach towards restraining the adverse environmental impacts emanating from the supply chain. Unfortunately, uptake of ESCM in construction vis-à-vis other sectors is limited and fragmented. This formed the motivation, which using 39 interviews across 20 firms in the UAE construction sector, provide systemic insights on the various facets of ESCM namely, core and facilitating environmental practices, internal and external drivers (pressures/motives) and barriers/challenges affecting environmental practices’ implementation, and relevant environmental performance measures across different firm types and stakeholders with the support of several established/emerging theories. The findings is expected to enhance the application of ESCM in construction.     

The boundary spanning capabilities of purchasing agents in buyer-supplier trust development

This study examines how individual purchasing agents function as boundary spanners with suppliers to influence trust development in themselves and the buying firms that employ them. Building upon boundary theory and supply chain cooperation research, we identify three boundary spanning capabilities of purchasing agents and empirically test how these capabilities shape buyer-supplier trust development. Using two samples of data collected from suppliers in the automotive industry and food industry, we found that a purchasing agent's effectiveness in strategic communication with suppliers affects a supplier's trust in the buying firm, while an agent's professional knowledge and ability toreach compromises with suppliers affect a supplier's trust in the purchasing agent representing the firm. Trust in the purchasing agent in turn affects trust in the buying firm. Theoretical and managerial implications are discussed.     

Citation footprints on the sands of time: An analysis of idea migrations in strategic management

We elucidate the intellectual progression of the strategic management field by examining knowledge flows to and from the Strategic Management Journal (SMJ) during the period 1980–2009. We provide a detailed mapping of the evolution of the intellectual structure of the field and identify its input‐output dependency relationships with other fields. Analysis of citation data using three analytic techniques: log‐multiplicative model, pathfinder analysis, and entropy analysis allow us to discern strategic management's influence on and engagement with other disciplines. The results show that, within the intellectual universe of strategic management, SMJ has played a central role, both as a source and storer of knowledge. We notice that, over time, there has been a decline in practitioner orientation, greater communication with finance and sociology, and increasing linkages with international business and entrepreneurship. Copyright © 2015 John Wiley & Sons, Ltd.     

Marketing controls and employee responses: The moderating role of task characteristics

A key concern in implementing organizational controls is that little is known about when controls lead to “negative” employee responses. Previous research has suggested that lower levels of negative responses will be observed only if the controls that are being employed “fit” the characteristics of the tasks being controlled. The two task characteristics usually referred to include performance (outcome) documentation and procedural (cause-effect) knowledge. Unlike previous studies, however, this study assumes that the two task characteristics should have a joint, rather than independent, influence on employee responses to controls. The reason is that knowledge of how well one is doing is not sufficient for expecting lower levels of negative responses if information on procedures that may lead to better performance is not available. Knowledge of procedures, likewise, is not sufficient for lower levels of negative responses if performance documentation is not available. Results of an empirical study provide general support for the above line of reasoning. He obtained his Ph.D. at the Ohio State University. His research interests include the areas of international marketing and sales management. He has previously published inAdvances in International Marketing, International Trade Journal, Journal of the Academy of Marketing Science, Journal of International Business Studies, Journal of Personal Selling and Sales Management, and contributed to several national and international conference proceedings. He obtained his Ph.D. at the University of Texas at Austin. His research interests include sales management, marketing strategy, and international marketing. He has previously published inInternational Journal of Research in Marketing, International Trade Journal, Journal of Economic Behavior and Organization, Journal of the Academy of Marketing Science, Journal of International Business Studies, Journal of Personal Selling and Sales Management, Technology Forecasting and Social Change, and contributed to numerous conference proceedings.     

The Role of Target Termination Fees in REIT Mergers

The Journal of Real Estate Finance and Economics - Target termination fee provisions are widely used in merger agreements and require the target firm to pay the bidder a fixed cash fee in the event...     

Oil and the Stock Market: An Industry Level Analysis

I investigate the impact of daily oil price changes on the stock returns of a wide array of industries. I find that in addition to the stock returns of industries that depend heavily on oil, stock returns of some industries that use little oil also are sensitive to oil prices perhaps because their main customers are impacted by oil price changes. In addition, I present robust estimates of industries’ cost‐side and demand‐side dependence on oil. These measures can serve as reliable benchmarks when classifying industries into oil‐intensive and non–oil‐intensive groups, a distinction widely used in studies and media without any quantitative justification so far. Further, I find that the sensitivity of industries’ returns to oil price changes depends on both the cost‐side and demand‐side dependence on oil and that the relative effects of these factors vary across industries.