Business travelers’ ticketing,refund, and exchange behavior

This study investigates when and why business travelers make changes to their airline itineraries. Results are based on tickets purchased over a 9-month period by employees of a university in Atlanta, US. The ability to track repeat passengers purchases across time allows analysis of how passenger cancellation behavior differs by frequency of travel as well as by carrier. Results indicate that frequent travelers and those purchasing from Delta versus AirTran are more likely to request ticketing changes. Other factors influencing cancellation behavior include the time from ticket purchase, time before flight departure, and whether the itinerary is for the outbound or inbound portion of a trip.     

Wo liegt der Kern des deutschen Mittelstands?

The Mittelstand is deemed to be a particular strength of the German economy. In international comparison, though, the contribution of small and medium enterprises (SMEs) to the economy is larger in many southern European countries. In this article, we argue that SMEs do not capture the core of the German Mittelstand, which instead lies in medium-sized companies larger than the current SME defi nition.     

Attitudes of industrial buyers toward selected social issues

Although the demand on industrial establishments to resolve various social problems is ever-present, there is little substantive material in the literature concerning the industrial buyers' perceptions of the social responsibilities of their firm. Studies of executive's attitudes toward corporate social responsibility have focused heretofore on corporate personnel other than industrial buyers. Next to salespersons, however, industrial buyers have more contact with persons and businesses outside their company than other corporate personnel. People in purchasing, nonetheless, are perceived by many as conservative, hard-nosed negotiators either unconcerned about corporate social responsibility at best or denying such responsibility at worst. This article presents the results of a survey of industrial buyers concerning their attitudes toward various social issues.     

Digital transformation in maritime ports: analysis and a game theoretic framework

Digitalization is pushing the maritime industry beyond its traditional limits and provides many new opportunities to enhance the productivity, efficiency, and sustainability of logistics. The concept of smart ports, for instance, aims to adopt modern information technologies to enable a better planning and management within and between ports. Strong facilitators of the digitalization are investments into technology and cooperations for promoting information sharing and a better coordination and collaboration, often regarded as a stumbling block in highly competitive environments. Besides many new opportunities, important economic issues and problems arise. We provide an overview of the development and state-of-the-art of digital transformation in modern seaports in order to identify current potentials and barriers. Focusing on the crucial and challenging aspects of coordination and collaboration, we present a conceptual game theoretic framework that allows benefits and cost allocations considering inter-, intra-, and meta-organizational perspectives. We further demonstrate how this framework can be used to develop tools and methods for supporting strategic decision making for driving the digital transformation in seaports and addressing new economic issues and problems.     

Building a strong services brand: Lessons from Mayo Clinic

A strong services brand is built and sustained primarily by customers’ interactions with the provider. A services branding model depicts the dynamics of brand creation. From the interrelationships among the presented brand, external communications, and customers’ experiences emerge brand awareness, meaning, and, ultimately, equity. The Mayo Clinic case study illustrates the services branding model by showing how one organization has created, extended, and protected a powerful brand through an unwavering commitment to the well-being of its customers. Managers outside of healthcare can benefit from three branding lessons embedded in the Mayo Clinic story: (1) attend to organizational values; (2) play defense, not just offense; and (3) turn customers into marketers.     

Involvement, satisfaction, and brand loyalty in a small business services setting

Considerable resources are expended annually on building business brands, yet the literature is virtually silent on brand loyalty in a business setting. This study examines the relationship between attitudinal loyalty and behavioral loyalty in a business services context, and attempts to identify two key antecedents of loyalty in this context. In particular, little is known about small businesses as customers, despite their significant contribution to the economies of developed nations. A longitudinal design is implemented, and data are captured on both attitudinal loyalty and subsequent loyalty behaviors (i.e., actual purchase behavior). The findings demonstrate the value of conceptualizing and measuring both attitudinal and behavioral components of brand loyalty. Specifically, the results indicate that attitudinal loyalty mediates the effects of the antecedents studied (category involvement and purchase satisfaction) on behavioral loyalty. Implications for marketing theory and practitioners are discussed, and possible directions for future research are sketched.     

The Impact of the Home Valuation Code of Conduct on Appraisal and Mortgage Outcomes

The accuracy of appraisals came into scrutiny during the housing crisis, and a set of policies and regulations was adopted to address the conflict‐of‐interest issues in the appraisal practices. In response to an investigation by the New York State Attorney General's office, the Home Valuation Code of Conduct (HVCC) was agreed to by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency. Using unique data sets that contain both approved and nonapproved mortgage applications, this study provides an empirical examination of the impact of the HVCC on appraisal and mortgage outcomes. The results suggest that the HVCC has led to a reduction in the probability of inflated valuations, although valuations remained on average inflated, and induced a significant increase in the incidence of low appraisals. The well‐intentioned HVCC rule made it more difficult to obtain mortgages to purchase homes during the housing price crash, possibly exacerbating the fall in prices.     

Buying a house and the decision to use a real estate broker

This study examines the factors that affect the decision by home buyers to use real estate brokers and the subsequent effect this decision has on home prices. Buyers with high opportunity costs and the least amount of information about local market conditions are the most likely to use brokers; a finding consistent with the role of the real estate broker as a market intermediary. Not surprisingly, these were some of the same factors that also have a positive impact on selling price. An important finding of this study is that when selection bias is adequately controlled, the real estate broker has no appreciable, independent impact on selling price. This, in turn, suggests a nonsegmented, highly competitive housing market.