Emotions,deliberations, and end‐of‐life products

Death is inevitable; yet, not all consumers prepare for death by purchasing end‐of‐life (EOL) products. Using the theory of reasoned action (TRA) and the dual‐process model framework, this study aims to examine the role of emotions and cognitions in influencing consumers' decisions to engage in planning for death. A mixed methodology design was used. Study 1, a qualitative study, uncovered positive and negative emotions and deliberative reasoning that comprise consumers' EOL purchase decision process. Study 2, a quantitative study, confirmed that emotions and deliberations independently and jointly influenced consumers' EOL attitude and behavior and that emotions affected deliberations for both prepaid funerals and wills. Subjective norms outperformed attitude in predicting both products' purchase behavior. These finding supported the dual‐process model of behavior and the TRA in the EOL research context and contributed to the EOL literature by investigating the effects of emotions and deliberations concurrently; thus validating the important role of emotions in influencing EOL planning and purchase. In light of our findings, marketers could, after due cognizance of the morbidity and sensitivity of the topic, develop actionable promotional and segmentation strategies for EOL products and other emotion‐laden, unsought products and service.     

A Bayesian examination of the relationship of internal and external touchpoints in the customer experience process across various service environments

Customer experience (CX) is an aggregate of consumer touch points that can be brand-owned (completely controlled by the firm), partner-owned (collectively controlled by the firm and one or more of its partners), customer-owned (where the firm or its partner cannot exert any control or influence) or represented by social/external touch points that account for the importance of the roles of others in the customer experience process. Although the concept of CX is widely used, not much has been examined about how external touch points impact customer perception of experience. Therefore, the main purpose of this study is to examine the role and impact of internal and external touchpoints as dimensions of customer experience and how CX can impact consumer word-of-mouth intention. Service outcome and peace of mind were used to represent internal experience touchpoints and peer to peer quality (PTP) was used to represent an external experience touchpoint. A total of 293 usable surveys were used for analysis using a Bayesian model developed for this study instead of the more traditional SEM approaches. Results showed that an external experience touchpoint has a similar impact to those of internal experience touchpoints in the experience process. CX was also found to have a strong effect on customer word of mouth intention. These findings make various contributions to the literature on CX, especially to research differentiating internal from external experience touchpoints. On the practical side, this study provides recommendations to retailers about how to manage an external touchpoint.     

Análise da implementação de uma estratégia de investimento em ações baseada em um instrumento de apoio à decisão

The present study analyzes the interface between two disciplinary fields - finance and operational research. In this sense, it integrates two approaches to investment analysis - fundamental and technical, as well as an investor’s concern at the time of resources allocation in a Buy & Hold investment strategy. The study uses the Multicriteria Decision Aid (MCDA) as an instrument of intervention. As for results, it was evident that the instrument of intervention used, together with a pre-defined investment strategy, was able to support the decision maker at the time of allocation of resources, generating an accumulated return of 25.14 % in the period, compared with a negative return -13.41% of the Bovespa index in the same period. In order to check the robustness of results, regressions were performed with both the CAPM model as daily and weekly data, and the t test performed on the coefficients of the regression was significant at 1% for the abnormal return of weekly data and 0.1% for the return of abnormal daily data; in addition, the t-statistic was positive in both cases, indicating the presence of abnormal positive feedback, i.e., the portfolio proposed here outperformed its benchmark.     

Administración del riesgo crediticio al menudeo en México: una mejora econométrica en la selección de variables y cambios en sus características

The early prediction of bad debtors in revolving loans in Mexico is a relevant current issue. The proposed econometric model of behavioral scoring considers the changes in the characteristics of consolidated clients and produces better results than those obtained with methodology used by the CNBV on provisions. The obtained results show the possibility of replacing the current model, minimizing the expected loss and increasing the ROA of Mexican financial institutions in 2.20% complying the methodology and statistical testing criteria according to the Unique Banking Dispositions and the guidelines of Basel II on credit risk.     

Constitutive explanations in neuroeconomics: principles and a case study on money

So far, the methodological debate about neuroeconomics rarely refers to original methodological positions in the neurosciences. I confront one of the most influential ones, the constitutive explanations or mechanism approach, with methodological claims that directly relate the economic model of choice with neuronal embodiments, represented by Glimcher’s influential work. Constitutive explanations are composite and non-reductionist, therefore allow for recognizing complex causal interactions between basal neuronal phenomena and cognitive structures, also involving external symbolic media. I demonstrate the power of this methodology in discussing the example of money, which Glimcher posits as one of the most important research tasks in further developing neuroeconomics. Whereas Glimcher justifies neuroscientific reductionism by presenting an evolutionary rationale for deploying formal economic models on particular modules enabling choice, the case of money reveals the need for mechanistic explanations that include a substantial role for cultural evolution, though recognizing causal interactions with basal neuronal mechanisms.     

旅游学方法论：何来“主义”之争？——与宋子千、张斌等人商榷

宋子千的《旅游研究方法论的实证主义与现象学之争》（简称《之争》）一文将申葆嘉先生的“旅游是市场经济的产物”和谢彦君教授的“旅游的本质是体验”分别作为旅游学研究中实证主义和现象学方法的代表性观点而对立起来。实际上, 不管是在当代旅游学界, 还是在申、谢两位学者之间, 都不存在关于研究方法论的“主义”之争一说。《之争》在未考虑科学研究中不同类型的问题需要不同的方法的情况下对两位学者的立场做出了武断的批评, 如果不予以澄清, 很可能会引起学术界在此类问题上的无谓甚至错误的争论, 误导学术研究的方向。同时, 《之争》在现象学的分析和技术理性等概念的使用上还有诸多值得商榷之处, 另有若干细节问题亦需要进一步澄清。鉴于旅游学在我国的发展还处于较为初步的阶段, 对旅游学基础理论的讨论必须秉持客观、严谨和科学的态度, 该文旨在与《之争》中的若干观点做一些商榷性的讨论。     

From complexity to transparency: managing the interplay between theory, method and empirical phenomena in IMM case studies

Theory, method and empirical phenomena are the three cornerstones of research. In this paper we contemplate the interplay between them when case research in industrial marketing is concerned. Developments in research depend on what empirical phenomena we are able to capture, how theories are developed to understand and explain these phenomena and what methods we use and/or develop in the process. While the emphasis is often put on one of these aspects alone, this paper focuses on the links and interplay between theory, case method and empirical phenomena in the development of research in industrial marketing. Specifically, we seek to provide common ground between orthodox (deductive) and unorthodox (abductive) approaches to managing the interplay by making a pragmatic call for transparency in research procedures. In this endeavour we use the papers included in this special issue as examples of various aspects of this interplay. We conclude by suggesting that there is a gamut of approaches possible to case research in industrial marketing, each with its specific links to theory and empirical phenomena, and that this is promising for the development of research in the field, as long as it helps reduce, rather than increase, the complexity of the case studied.     

Sense and sensibility: Two approaches for using existing theory in theory-building qualitative research

The paper addresses the role and use of theory in theory-building case research. How to use existing theory in theory-building efforts is a crucial, yet somewhat overlooked challenge within qualitative research. On that background, the purpose of the paper is to explore, compare and discuss two distinct approaches for using existing theory and developing theoretical awareness in theory-building case studies. Upon discussing the role and use of theory in case study research in general, we identify two approaches for drawing on pre-existing theory, labeled the in vivo approach and the ex ante approach. The in vivo approach takes departure in a single theoretical framework, anchored in a single paradigm, and the aim of theory-building is to gradually deepen, refine and complement this framework. The ex ante approach suggests that researchers should look for paradox in the form of theoretical tensions and use these to develop theory, meaning that researchers should develop an elaborate theoretical understanding of meta-theoretical stances and use these to generate different readings of the case material, subsequently prioritizing and integrating them into a coherent pattern.     

Risk measures in strategic management research: auld lang syne?

Risk is an integral component of strategic management decisions and often appears as an element of empirical studies reported in the strategic management literature. Recent methodological research in the financial economics and management science literatures has, however, raised serious questions about the strategic management literature’s two most widely used measures of firm and business‐level risk: beta (or its derivatives) from the Capital Asset Pricing Model and simple variance (or its variants). This research reviews risk studies published in leading management journals in the past 15 years and summarizes the recent methodological findings in the adjacent literatures. We discuss the implications of these findings for our understanding of risk in strategic management and assess alternative measures of risk and conclude with a discussion of directions for future strategy research. Copyright © 1999 John Wiley & Sons, Ltd.