Does santa have a great job? Gift shopping value and satisfaction

For good or bad, shopping and gifting are intertwined. This research looks at sources of gratification associated with shopping for gifts. More particularly, the roles played by general and specific shopping orientations in shaping gift shopping value and satisfaction are examined. Results from testing a theoretical model suggest that gift shopping orientations, such as agape, may dominate general shopping orientations, such as price consciousness. Also, the important role played by utilitarian shopping value is consistent with gift shopping more as a job than as a source of leisure. However, the results fall short of suggesting a negative relationship between gift shopping and hedonic shopping value. So gift shopping may be a job, but a job that is not so horrible after all. © 2007 Wiley Periodicals, Inc.     

FUTURE DIRECTIONS IN UNDERGRADUATE INSURANCE EDUCATION: ACADEMIC AND REAL WORLD PERSPECTIVES

Abstract: The authors discuss the hiring patterns of some insurers and examine why insurers do not always seek out students with risk management and insurance backgrounds. The authors suggest that it is important for universities and insurers to work more closely so that students coming out of college insurance programs are well prepared to work in the insurance industry.     

A Monte Carlo investigation of the accuracy of multivariate CAPM tests

In a multivariate regression model relating individual returns to the market return, CAPM implies non-linear restrictions on the parameters. Several asymptotically valid tests of these restrictions have been suggested. The existing Monte Carlo evidence shows that some of these tests are unreliable for reasonable sample sizes, but does not indicate well which tests are reliable. This paper reports the results of an extensive Monte Carlo experiment. Shanken's CSR test and Jobson and Korkie's corrected likelihood ratio test are quite accurate in all cases we consider.     

Evolution of global airline strategic alliance and consolidation in the twenty-first century

Global airline strategic alliances have emerged since the late 1980s, and their number has slowly risen through the years. Will the number of such alliances continue to proliferate? Or will airlines consolidate with one another to form mega-carriers? In this paper, the likelihood of various airline consolidation and alliance development possibilities was examined based on a number of high-level trends and forces. The most probable near-term industry alliance and consolidation structure is described, accompanied with a probable path of evolution. These predictions have important implications for managers of strategic alliances, carriers who are currently in an alliance as well as carriers who are planning to join one.     

Capital management in mutual financial institutions

Capital management by mutual financial institutions (such as credit unions) provides a valuable testing ground for assessing the impact of capital regulation and theories of managerial behaviour in financial institutions. Limited access to external equity capital means that capital accumulation must be met primarily by reliance on retained earnings. To deal with shocks to the capital position and avoid breaching regulatory requirements, managers will aim to have a buffer of capital in excess of the regulatory minimum. Moreover, mutual governance arrangements and an absence of capital market discipline mean that managers have discretion to set target capital ratios which differ significantly from industry averages. This paper develops a formal model of capital management and risk management in mutual financial institutions such as credit unions which reflects these industry characteristics. The model is tested using data from larger credit unions in Australia, which have been subject to the Basel Accord Risk Weighted Capital Requirements since 1993. The data supports the hypothesis that credit unions manage their capital position by setting a short term target profit rate (return on assets) which is positively related to asset growth and which is aimed at gradually removing discrepancies between the actual and desired capital ratio. Desired capital ratios vary significantly across credit unions. There is little evidence of short run adjustments to the risk of the asset portfolio to achieve a desired capital position.     

Gender and ethnic differences in factors that influence food intake

Abstract The objective of this research was to ascertain the gender-and ethnic-related factors that influence what one eats. This survey was conducted using a validated, pilot-tested questionnaire in 11 states and the District of Columbia, which were participating in the W-182 Western Regional Research project. The results indicated that the factors that influence what one eats differ by gender and ethnicity. Men were very much influenced by likes and dislikes, and by their spouse or significant other. Women were influenced by likes and dislikes, and health. Food likes/dislikes and concerns about health and weight were among the leading four factors for all ethnic groups. Food likes/dislikes were the top factor influencing what is eaten by 51% or more of Asians, Pacific Islanders, Caucasians and Hispanics. Concern about health was the top factor for 62% and 58%, respectively, of African Americans and Native Americans.     

Reflections on longitudinal action research with the English National Health Service

This paper reflects on a longitudinal collaborative action research programme between the Centre for Research in Strategic Purchasing and Supply and the UK National Health Service Purchasing and Supply Agency that has operated since 1995. During the collaboration, research has changed practice and practice has changed research. A framework for analysing change is introduced as a means of examining how supply strategy has changed during the course of the research. The framework is applied to three supply strategy cases of prosthetics, clinical waste and cardiology, illustrating how practice and research have changed and influenced the production of knowledge over time. The methodological, theoretical and managerial implications of such longitudinal action research programmes are reflected on.     

What are the implications of the new UK age discrimination legislation for research and practice?

Forthcoming changing demographics and the introduction of the relatively recent UK age discrimination legislation make it timely to consider some of the debates around the relevance of age to work. Issues surrounding ageing have been considered from within a number of disciplines and research perspectives which have led to some questioning of the dominant economic model that pivots on chronological age as a convenient, bureaucratic, measure that proxies for ability. The role of the HR practitioner in being able to redefine expectations throughout the lifespan of employees is considered while constraints to managing for the longer term are acknowledged. It is proposed that although the legislation will affect some age‐related practices positively, there are likely to be unintended consequences that single out particular age groups as special cases and therefore make age more relevant to the work relationship.