Customer segmentation using unobserved heterogeneity in the perceived-value–loyalty–intentions link

Multiple facets of perceived value perceptions drive loyalty intentions. However, this value–loyalty link is not uniform for all customers. In fact, the present study identifies three different segments that are internally consistent and stable across different service industries, using two data sets: the wireless telecommunication industry (sample size 1122) and the financial services industry (sample size 982). Comparing the results of a single-class solution with finite mixture results confirms the existence of unobserved customer segments. The three established segments are “rationalists”, “functionalists” and “value maximizers”. These results point the way for value-based segmentation in loyalty initiatives and reflect the importance of a multidimensional conceptualization of perceived value, comprising cognitive and affective components. The present results substantiate the fact that assuming a homogeneous value–loyalty link provides a misleading view of the market. The paper derives implications for marketing research and practice in terms of segmentation, positioning, loyalty programs and strategic alliances.     

Effect of price increases on future intentions of sport consumers

This work analyzes the relationships between perceived value, satisfaction and future intentions among users of a public sport service who experience a price increase in the service they receive. A self-administered survey provides data from two samples (before and after the service price increase). After confirming the reliability and validity of the measures, hierarchical multiple regression provides the means for analyzing the data. The results show that the increase in the service price worsens the perception of service performance. As expected, satisfaction, perceived value and future intentions decrease following an increase in the service price. Perceived value also serves as a more effective predictor of future intentions than satisfaction. Finally, price increase has a low direct effect on predicting future intentions of sport users.     

Changes in earnings announcement tone and insider sales

The evidence from prior literature suggests that insider trading is related to firms' reported financial results and disclosure choices. I contribute to the literature by examining the association between narrative disclosure in earnings announcements and insider trading. Specifically, I hypothesize and find a positive association between changes in the optimistic tone of earnings announcements and CEOs' subsequent equity sales. In addition, I hypothesize and find that this relation is mitigated by the Sarbanes–Oxley Act and litigation risk. CEOs' financial gain from selling equity after more optimistic earnings announcements is small relative to their total compensation.     

Teaching Foreign Currency Translation and Its Effect on Financial Statement Analysis

This paper provides a straight forward explanation of currency translation, an example of its effects on financial ratios and a sureadsheet model for instructors to generate a variety of financial stations for multinational companies using this approach, students are not burdened by the mechanics of foreign currency translation in the survey course and can concentrate on-the critical issue of translation and financial analysis.     

The Influence of Consumer Degree of Knowledge on Consumer Behavior: The Case of Spanish Olive Oil

This article analyses the influence of perceived quality measured across intrinsic and extrinsic attributes on satisfaction and consumer loyalty for a traditional food product as with PDO (Protected Designation of Origin) olive oil “Aceite del Bajo Aragón.” In addition, the article highlights the influence of consumer's degree of knowledge on these relationships. The results suggest that the main drivers to explain consumers' satisfaction and loyalty are the perceived quality of the intrinsic attributes (color, appearance, flavor, etc.). However, when consumers are classified attending to their degree of knowledge the main explanatory variable of satisfaction and loyalty of the more experienced consumers are the extrinsic attributes of the product (brand name, place of origin, images associated to the product, etc.). These findings allow us to develop important managerial implications for building a brand image for a PDO.     

A two-dimensional model of trust–value–loyalty in service relationships

The study examines the relationships between consumer trust (cognitive and affective), perceived value (utilitarian and hedonic), and loyalty behavioral intentions (repurchase and advocacy) in a two-dimensional (affect- and rational-based) consumer–service provider model. It provides an alternative theoretical representation of consumer behavior in service relationships and implications for service providers about consumers' loyalty intentions. A mail survey analyzed by SEM supports the model of loyalty as a function of consumers' expressive and instrumental responses resulting from intrinsic and extrinsic perceptions of trust and heuristic and rational-based perceived value. Implications for designing loyalty programs are explored and future research opportunities recommended.     

体育教育在校园文化建设的地位和作用

体育教育是校园文化建设的重要组成部分之一。本文着重分析了体育教育的内容、形式,以及校园文化组成结构,阐明了校园体育教育在校园文化建设中的地位和作用,使体育教育在校园文化建设中发挥更大的作用。     

最大债权国困境与人民币国际化关系研究

对外汇储备额居世界首位的中国而言,除美国国债外,并无其它合适的投资形式可以满足中国外汇储备管理要求,中国成为美国国债的最大持有国是一种无奈的选择。中国因此陷入了最大债权国困境,增持、减持左右为难。解决最大债权国困境的金融策略在于人民币国际化,跨境贸易人民币结算走出了正确一步,但需解决境外人民币供给与需求意愿的现实障碍,加快人民币国际化进程。     

The perceived benefits of agritourism: The provider’s perspective

This study examines the perceived benefits of agritourism by examining the importance of this activity in accomplishing 16 goals of farmers receiving visitors for recreation on their farms. This study also examines several farm household and business attributes associated with the accomplishment of four goal dimensions driving agritourism development. Data were derived from a survey conducted among 164 agritourism farms in Missouri. Results showed that agritourism mostly serves to capture new farm customers, educate the public about agriculture and enhance the quality of life for the farm family, which represents both, economic and non-economic benefits. Organized by goal dimensions, findings showed that agritourism is perceived as most important for market related goals, suggesting that the economic role of agritourism should not only be measured in terms of increased profits but also as a marketing tool. Four significant regression models showed that several farm business and household attributes are associated to the perceived agritourism benefits within four goal dimensions, suggesting opportunities for tailored promotional messages and policy considerations for the entrepreneurial development of agritourism.