Contract Price Confirmation Bias: Evidence from Repeat Appraisals

The Journal of Real Estate Finance and Economics - Prior research has argued that upwardly biased appraised values of residential properties were a contributing factor of the 2008 financial crisis....     

Consumer journeys: developing consumer-based strategy

Journal of the Academy of Marketing Science -     

Consumer Perceptions of Credibility and Selling Intent Among Advertisements,Advertorials, and Editorials: A Persuasion Knowledge Model Approach

This article presents the results of a study of consumer reaction to three different types of information delivery in magazines: editorials, advertorials, and advertisements. The study draws on the Persuasion Knowledge Model to examine the effect of each form of information delivery on source influence, source credibility, perceived selling intent and purchase intention. The analysis indicates that the form of information delivery in print media affects the perceived credibility of the source of the information, the perceived selling intention and the purchase intention. Implications for marketers and policy-makers are also discussed.     

The search for skills: Knowledge stars and innovation in the hiring process

The effective utilization of knowledge has become an important part of how firms gain competitive advantage in the marketplace. However, the recruitment, search, and selection processes used to obtain workers who would develop and deploy that knowledge have not materially changed for many years, with human resources (HR) frequently automating legacy procedures. We believe that the hiring processes for exceptional knowledge workers, whom we call knowledge stars, must adapt to the current business environment. Using the framework of architectural innovation, we propose that HR’s recruitment of knowledge stars should begin before specific jobs are announced, should be done in partnership with line managers, and should be done in coordination with implementation of other workplace innovations such as the development of communities of practice and participative management. We conclude by discussing how changes in the search processes for knowledge stars fit in context with some other ongoing challenges for HR personnel.     

The effect of CEO pay deviations on CEO withdrawal,firm size,and firm profits

We build upon previous work on the effects of deviations in CEO pay from labor markets to assess how overcompensation or undercompensation affects subsequent voluntary CEO withdrawal, firm size, and firm profitability, taking into account the moderating effect of firm ownership structure. We find that CEO underpayment is related to changes in firm size and CEO withdrawal, and that the relationship between CEO underpayment and CEO withdrawal is stronger in owner‐controlled firms. We also show that when CEOs are overpaid, there is higher firm profitability; a relationship that is weaker among manager‐controlled firms. We then discuss the implications that these findings have for future research. Copyright © 2010 John Wiley & Sons, Ltd.     

Should We Hire David Beckham to Endorse our Brand? Contextual Interference and Consumer Memory for Brands in a Celebrity's Endorsement Portfolio

Imagine that you are browsing through a magazine, and you see one of your favorite celebrities in an advertisement. Then, a bit further into the magazine you see that same celebrity in an ad for a different product. A few hours later, you think of the celebrity again and try to remember the products s/he was endorsing, but what will you actually recall? This paper examines consumer memory for celebrity advertising under conditions where a single celebrity advertises for more than one brand. Using contextual interference as the theoretical lens, the current research posits and demonstrates how brands in a celebrity's “endorsement portfolio” compete with one another when consumers use the celebrity as retrieval cue for information that was contained in the ads. The findings of the laboratory experiment reveal that brands sharing either a high or low match with the celebrity win the battle during retrieval and inhibit consumers’ ability to accurately recall ad information for brands sharing a more moderate match with the celebrity. The theoretical practical implications of these findings are discussed.     

Establishing HR Professionals’ Influence and Credibility: Lessons from the Capital Markets and Investment Banking Sector

Through two separate studies involving 47 interviews inside 22 institutions in the capital markets and investment banking sector, we explore the levels of influence and sources of credibility for senior HR professionals, and examine the challenges they face in establishing credibility. We compare these findings against previous research, which has identified several determinants of HR’s influence and credibility. Our findings confirm that HR’s modest influence is contingent on the predispositions and convictions of key stakeholders, notably the CEO, but also depends on the decision being taken. We find that the basis for senior HR professionals’ credibility is more individual than institutional, and that HR professionals and senior business managers differ in the priorities they assign to credibility determinants. Finally, the studies illuminate an enduring inherent tension for HR in establishing credibility, between servicing their internal clients’ needs and retaining a level of independence. We reflect upon the transient nature of HR credibility in this sector and others. © 2014 Wiley Periodicals, Inc.