Glaubwürdigkeitsverlust durch programmintegrierte Werbung?

This study investigates the effects of the frequency of product placements on the credibility and evaluation of the program context. In two experiments, we varied the frequency of product placements in a TV magazine report and measured persuasion recognition, involvement, as well as global evaluation and perceived credibility of the TV reports. Results show that subjects do indeed recognize the persuasive intent of the embedded product placements. However, as long as viewers watch the report with high involvement, product placements exert no feeling of annoyance. There is also no effect of the frequency of placements on the perceived credibility of the TV reports. It can be concluded that product placements do less harm to the program context than commonly assumed.     

Performance Schweizerischer Anlagestiftungen

Ohne Zusammenfassung     

Testing Conditional Asset Pricing Models Using a Markov Chain Monte Carlo Approach

We use Markov Chain Monte Carlo (MCMC) methods for the parameter estimation and the testing of conditional asset pricing models. In contrast to traditional approaches, it is truly conditional because the assumption that time variation in betas is driven by a set of conditioning variables is not necessary. Moreover, the approach has exact finite sample properties and accounts for errors‐in‐variables. Using S&P 500 panel data, we analyse the empirical performance of the CAPM and the Fama and French (1993) three‐factor model. We find that time‐variation of betas in the CAPM and the time variation of the coefficients for the size factor (SMB) and the distress factor (HML) in the three‐factor model improve the empirical performance. Therefore, our findings are consistent with time variation of firm‐specific exposure to market risk, systematic credit risk and systematic size effects. However, a Bayesian model comparison trading off goodness of fit and model complexity indicates that the conditional CAPM performs best, followed by the conditional three‐factor model, the unconditional CAPM, and the unconditional three‐factor model.     

Priority setting for research on aquatic resources: an application of modified economic surplus analysis to natural resource systems

In contrast to research on farming systems, research on natural resource systems seldom applies rigorous priority setting techniques, mainly due to difficulties associated with estimating research impact ex ante for such systems. This article presents a replicable approach to priority setting that addresses these difficulties. Assessment is based on multiple criteria, combining economic surplus analysis with subjective scoring, based on information drawn from a cross‐country survey of expert opinion. The approach is applied to the WorldFish Center, a global agricultural research organization focusing on living aquatic resources, both farmed and wild. The exercise demonstrates the relevance of conventional evaluation techniques to fisheries research based on a practical application of its impact pathways.     

Using public opinion surveys to evaluate corruption in Europe: trends in the corruption items of 21 international survey projects, 1989–2017

Quality & Quantity - Many international survey projects contain items on corruption that facilitate comparative analyses of individual-level determinants of perceived and experienced...     

Happy Festivus! Parody as playful consumer resistance

Drawing upon literary theory, play and consumer resistance literature, we conceptualize consumer parodic resistance – a resistant form of play that critically refunctions dominant consumption discourses and marketplace ideologies. We explore parodic resistance empirically by analyzing Festivus, a parody of Christmas. Festivus is found to be primarily constructed as a playful rejection of the established grand narratives and conventions of Christmas. In contrast to dominant Christmas ideology, Festivus promotes a grand narrative of “meaningful nothingness,” wherein Festivus celebration is presented a viable means of circumventing the oppressiveness of Christmas (i.e. “meaningful”) through erasing the higher goals and conventions if Christmas (i.e. “nothingness”). Our contribution is threefold: (i) we demonstrate the role of parody in consumer resistance; (ii) we outline the subversively playful nature of parodic consumer resistance; and (iii) we empirically demonstrate how parodic holiday celebration unsettles dominant discourses and conventions.