Attributional influences on consumers' desires to communicate about products

Three studies examined attributional antecedents of selected consumer communications about products. Study One used the critical incident technique to examine the types of attributions consumers make about product performance when they want to complain to or compliment a firm. Studies Two and Three systematically manipulated causal inferences to determine their effects on consumer desire to complain to a firm, compliment a firm, warn against, or recommend a product to other consumers. Results indicate that attributional locus (buyer-related versus seller-related), controllability (under volitional control versus uncontrolled), and stability (fluctuating versus stable) influence consumers' desires to communicate about products.     

民主化比较研究：一些广泛的和局部性的结论

民主化的比较研究已经产生了两类普遍结论:一类几乎一般的适用,一类则仅适用于一定地区内的某些国家。第一类包括良好的经济发展在保证民主持续稳定发展中的作用、政治精英在建立和毁掉民主制度中的重要作用、法治和国家能力对新生民主的质量和巩固发展的重要性等等。第二类是前东欧社会主义国家与拉丁美洲和南欧的民主化的对比:例如民主化与经济转型的关系、从过去的政治经济体制快速或缓慢转型对于巩固新生民主制度的利与弊等。这两类结论对比较政治学者有两个方法论上的启示:一是怎样理解理论的普遍性,二是如何衡量事件的长期性的和直接性的原因哪个更重要。     

Episodes of Exuberance in Housing Markets: In Search of the Smoking Gun

In this paper, we examine changes in the time series properties of three widely used housing market indicators (real house prices, price-to-income ratios, and price-to-rent ratios) for a large set of countries to detect episodes of explosive dynamics. Dating such episodes of exuberance in housing markets provides a timeline as well as empirical content to the narrative connecting housing exuberance to the global 2008 ?09 recession. For our empirical analysis, we employ two recursive univariate unit root tests recently developed by Phillips and Yu (International Economic Review 52(1):201–226, 2011) and Phillips et al. (2015). We also propose a novel extension of the test developed by Phillips et al. (2015) to a panel setting in order to exploit the large cross-sectional dimension of our international dataset. Statistically significant periods of exuberance are found in most countries. Moreover, we find strong evidence of the emergence of an unprecedented period of exuberance in the early 2000s that eventually collapsed around 2006 ?07, preceding the 2008 ?09 global recession. We examine whether macro and financial variables help to predict (in-sample) episodes of exuberance in housing markets. Long-term interest rates, credit growth and global economic conditions are found to be among the best predictors. We conclude that global factors (partly) explain the synchronization of exuberance episodes that we detect in the data in the 2000s.     

Perceptions of service delivery and happiness

An important task for students of development is to monitor progress in bringing basic services to all South Africans, one of the major objectives of the Reconstruction and Development Programme (RDP). This article reports on a subjective indicator study which began in February 1995, nine months after the April 1994 elections. The study, commissioned by Information Update, a Human Sciences Research Council research publication, inquired into personal happiness and assessments of local public services including access to water, education, electricity, health care, roads and transport. Over 5 700 South Africans were polled during 1995 in three nationally representative sample surveys. Secondary data analysis showed that perceived improvements to local services were closely associated with increases in happiness among all sectors of the population, including rural dwellers and the poor. The article discusses the policy implications of this finding for future voting behaviour and efficient local government.     

The effects of market organization on conspiracies in restraint of trade

Mindful of the market structure-conduct-performance paradigm fundamental to industrial organization research, this paper uses laboratory experimental techniques to study the impact of conspiratorial opportunities on market performance. We compare ‘posted-offer’ markets where sellers (but not buyers) are all conspiratorial opportunities with observations from three control groups: (1) posted-offer markets without conspiratorial opportunities, (2) ‘double-auction’ markets with conspiratorial opportunities and (3) posted-offer markets with true single-seller monopolists. The basic conclusions generated by our experimental design are: (1) seller conspiracies in posted-offer markets tend to raise prices (but not profits) relative to similarly organized markets without conspiracies, (2) posted-offer conspiracies tend to generate higher prices (but not profits) than double-auction conspiracies, and (3) posted-offer monopolies tend to generate higher profits (but not prices) then posted-offer conspiracies.     

Is the emergence of new sovereign wealth funds a fashion phenomenon?

The paper deals with the important financial policy issue of the decision for a country to establish a sovereign wealth fund (SWF). Using a large-scale database, we analyze the economic, political and institutional factors that should be considered in such a decision. In particular, we test if the emergence of SWFs and more specifically of a specific type of SWFs can be explained by the following factors: the excess foreign exchange reserves due to natural resources rents or persistent current account surpluses; the volatility of commodity prices; the appreciation of the real exchange rate leading to the “Dutch Disease” effect and the governance of the country. The results suggest that countries with excess foreign exchange reserves, which are dependent on a commodity and which suffer from an appreciation of the real exchange rate are more likely to create a fund. We also find that commodity-based funds tend to be established in low democratic countries. Finally, our results suggest that the factors driving SWFs creation are different depending on the origin of the funding (commodity or non-commodity) and the macroeconomic objective(s) assigned to the fund. Our results may be of interest for policymakers debating whether or not it can be optimal for the country to establish a SWF.     

Mapping Corporate Responsibility and Sustainable Supply Chains: an Exploratory Perspective

Corporate responsibility (CR) in general, and sustainable supply chain management in particular, have been a growing concern for companies and researchers over the past decade. However, in scholarly work, sustainability has often been dealt with in a generic fashion or from an anecdotal point of view. Further, research works examining CR on the one hand and sustainable supply chains on the other have been conducted separately. We undertake the multiple factor analysis of a CR rating database (Innovest) which reports longitudinal scores for both the social and environmental performance of 1198 companies in different countries and distinct industries, to demonstrate a strong relationship between CR and a sustainable supply chain. Our findings from exploratory analysis also illustrate the role of country of origin and industry in shaping CR behaviour, highlighting isomorphic as well as allomorphic trends for CR trough time. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.