Prediction from binary choice models: A note

The results of Westin (1974) can be obtained, to a satisfactory approximation, without recourse to numerical integration. We also show how to attach a standard error to his point estimates.     

Pfizer and its competitive marketing challenges

Pfizer has been the preeminent global pharmaceutical company in recent years and much of their success can be attributed to their marketing responsiveness and innovation. Pfizer is committed to patients, the community and quality product development. As a model in marketing effectiveness they also show how to lead internal resources efficiently to maximize market place opportunities.     

A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong

This article aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracts (GMP/TCC) over and above the traditional lump‐sum contractual arrangement through an empirical questionnaire survey conducted in South Australia and compared with the findings in Hong Kong. The Mann‐Whitney U Test indicated differences in perception between the two groups of respondents on the majority of the identified benefits. The study has provided an in‐depth understanding of the perceived benefits of the GMP/TCC scheme, hence leading to a wider application of those alternative integrated procurement strategies in both regions for reference by the construction community at large.     

Market Orientation in the Transition Economies of Central Europe:: Tests of the Narver and Slater Market Orientation Scales

The Narver and Slater (Narver, J.C., and Slater, S.F.: The Effect of Marketing Orientation on Business Profitability. Journal of Marketing 54 (1990): 20–35.) market orientation scale is tested in the context of the transition economies of central Europe and found to be both valid and reliable. Relationships between market orientation and both marketing strategy and performance broadly follow predictions from the Western literature indicating that the adoption of a market orientation is equally applicable in transition as in Western economies. A number of different approaches, however, are evident in the transition economies suggesting that other business orientations may coexist with a market orientation creating a richer and more complex set or organizational drivers.     

Deciding to recruit only donors with high lifetime values

This paper argues that it is important to choose the right donors to recruit, in order to boost average lifetime donation values. This choice needs to be made by making decisions, before donor recruitment, based on data that are available in the market. A case history is shown, based on a group of charities asking for cash donations, to demonstrate how such decisions may be reached. Finally, there is a discussion about implications for direct mail, other recruitment media, and for charities' fundraising organisations.Copyright © 2000 Henry Stewart Publications.     

Pricing and Mispricing Effects of SFAS 131

Abstract:  We investigate the effects of the introduction of Statement of Financial Accounting Standards No. 131 (SFAS 131) on the market's valuation of foreign earnings. Thomas (1999) documents that investors discount the value of foreign earnings for US multinational companies. He conjectures but does not test the possibility that this finding is due to poor disclosure related to foreign operations. We find strong evidence that the introduction of the standard is positively associated with the pricing of foreign earnings. In addition, we use both the Mishkin (1983) test and a zero-investment hedge portfolio test and find that investors' mispricing of foreign earnings lessens (and in fact disappears) after SFAS 131. This study is one of the first attempts to show that improved disclosure reduces mispricing.