品牌延伸会影响品牌个性吗？——反馈效应的视角

品牌个性和品牌延伸都是品牌管理的重要内容，二者相互影响，过去的研究着重于品牌个性对品牌延伸的影响，但品牌延伸亦会影响品牌个性发展。选取我国医药行业老字号品牌云南白药作为研究对象，首先对云南白药的品牌个性进行探索性研究，通过四个定性研究确定云南白药品牌个性的项目词汇库，然后通过问卷调查获得的353份样本进行探索性因子分析，确定了云南白药的品牌个性的三个品牌个性维度，即经典真诚、可靠安全、独特神秘。在此基础上，针对云南白药向日化产品的品牌延伸如何影响其品牌个性提出理论假设，通过问卷调查获取205份样本，应用回归分析对假设进行检验，发现品牌延伸的两个维度情感延伸和功能延伸对品牌个性都有显著的正向影响，但功能延伸对品牌个性的正向影响更加显著，而且功能延伸和情感延伸对品牌个性各个维度的影响效果不一。     

A cross cultural investigation of retailers commitment to CSR and customer citizenship behaviour: The role of ethical standard and value relevance

Factors promoting customer citizenship behaviour are of great interest to both practitioners and academics because customer citizenship behaviour is a notable driver of business success. This study examines the role of value relevance and ethical standards in shaping consumers perceptions about retailers commitment to corporate social responsibility (CSR) and its effects on customer citizenship behaviour under different cultural contexts. It also examines the critical role of personality in shaping citizenship behaviours. Data from the UK and Egyptian consumers were collected and analysed. Data were collected from 1757 consumers and analysed using structural equation modelling (PLS/SEM). The findings indicated that value relevance and ethical standards are key drivers of retailer commitment to CSR, which in turns lead to customer citizenship behaviour. Moreover, the multiple-group analysis revealed that the degree of effect of these variables on customer citizenship behaviour differs between customers in Egypt and the UK. Specifically, the effect of value relevance and ethical standards on retailer commitment to CSR is stronger for the Egyptian customers than for the UK customers, while, CSR has stronger effects on customer citizenship behaviour for the British consumers than for the Egyptian customers. The managerial and theoretical implications were identified.     

CEO incentive compensation and stock price momentum

We document strong evidence that CEO incentive compensation can predict the significance of stock price momentum through discretionary accrual and real activities manipulation. The profit of momentum strategy increases with CEO pay-for-performance incentive, but decreases with CEO risk-taking incentive. It also evaluates the effects of information uncertainty on such relationship. The evidence is more significant for firms with older and longer tenured CEOs and firms with more informed traders. The relationship between the profit of momentum strategy and CEO pay-for-performance incentive is stronger among CEOs without the risk-taking incentive. Our results are robust for different sub-samples based on before and after Reg FD and Sarbanes–Oxley Act, even after controlling for the potential endogeneity. Further, our findings are consistent with the information diffusion explanation of momentum and the agency theory that incentivised CEOs tend to manipulate information by smoothing good news, concealing mildly bad news and accelerating the disclosure of extremely bad news.     

企业社会责任对品牌个性的影响研究

随着我国综合国力的提升，市场经济得以迅速发展，但在企业不断的发展中，仅仅以经济收益为核心目标的价值观念受到了公众的挑战。同时公众消费呈现越来越个性化特点，使得企业品牌个性在企业各项能力中占据重要地位。进行实证研究指出企业社会责任影响品牌个性，检验了品牌态度在企业社会责任对品牌个性影响中中介作用显著。