An investigation of the influence of cinema environment on advertising effectiveness

Many advertisers are looking to cinema advertising as a nontraditional medium to reach consumers. Although several scholars have examined the effectiveness of this advertising vehicle, there is a dearth of empirically grounded research on how to improve such effectiveness. This study, based on the reactance and the equity theories, is probably the first academic project investigating how to manipulate an advertising environment in a real movie theatre to maximize advertising effectiveness. Results indicated that audiences in a distractive environment held a more positive attitude toward cinema advertising in general, but those in a restrictive environment were more likely to remember the advertised brands. In addition, the provision of ticket price information improved audiences’ acceptance of cinema advertising, but did not enhance recall. Moreover, the influence of ambient scent emitted into the atmosphere in a cinema room on ad recall dissipated when movie viewers became accustomed to such stimuli. Based on these findings, theoretical discussions and recommendations for practising managers were made.     

Investigating the antecedents of customer brand engagement and consumer-based brand equity in social media

The current research is concerned with identifying and testing the role of three main predictors: consumer involvement, consumer participation, and self-expressive brand on the customer brand engagement (CBE). The customer brand engagement is treated in the current study as multidimensional constructs comprising three main aspects: cognitive processing (CP), affection (AF), and activation (AC). It was also proposed a direct influence for these three aspects of CBE on consumer-based brand equity (CBBE). Using online surveys, we gathered data from fans/followers of mobile phone service providers, via Facebook fan pages in Jordan. The data were analysed using structural equation modelling. Based on structural equation modelling analyses (SEM), it was supported that CBE aspects were largely predicted by the role of consumer involvement (INV), consumer participation (COP), and self-expressive brand (SEB). However, we find that activation impact one dimension of the CBBE dimensions, namely, brand loyalty. Further, we find that brand awareness/associations affect perceived quality but not brand loyalty. To validate the CBE scale, future studies could investigate the impact of the scale using other social media platforms for different brands. The limited amount of empirical research on CBE was the motivation behind this research. In particular, there is no study that has investigated the main predictors of CBE and its consequences over developing context by proposing and testing the association between the antecedents of CBE with the dimensions of CBE, which in turn affect the dimensions of CBBE.     

Politically connected boards,family and business group affiliations,and cost of capital: Evidence from Indonesia

We investigate the effect of politically connected boards (both supervisory boards [SBs] and boards of directors [BODs]) on cost of debt and equity capital of listed companies in Indonesia which has established a two-tier corporate governance system. The results, based on 250 firms, suggest that companies with politically connected SBs experience lower cost of debt and equity capital, whereas politically connected BODs have no association with cost of either debt or equity. Furthermore, we find that family firms and firms belonging to business groups with politically connected SBs enjoy lower cost of debt and equity capital. Our main results are robust to alternative measures and to tests for endogeneity.     

Consumer Brand Hate: Steam rolling whatever I see

This study aims to investigate negative consumer‐brand relationships by developing a “Brand Hate” concept. A hierarchical Brand Hate model is theoretically discussed in light of the psychology and consumer behavior literatures. In Study‐I the Brand Hate concept was tested with two different types of consumer brand haters, true haters, and regular haters. The study found that in the study's proposed multidimensional Brand Hate hierarchy true haters display “Boiling Brand Hate” while regular haters reveal “Seething Brand Hate.” Two additional studies were developed to examine the relationship between consumer personality traits and Brand Hate, exploring which types of consumers are more prone to feel hatred toward targeted brands. Study‐II's findings revealed a relationship between consumers who are high in personality traits of “conscientiousness” and those who Brand Hate. Study‐III's findings indicated that “self‐confident” and “competitive” consumers might also be more prone to feel hatred toward those brands that perform poorly and unethically.     

A train of thought in product experientiality: Working memory,distraction, and inconsistencies in cue order effects

The sequence of informational cues and the level of distraction have an impact on the judgment of a product’s quality and preference. Two quasi-experimental studies (N_total = 340) investigate the influence of the force behind the processing of these cues – working memory (WM). Previous research found that, in the presence of a distractor, high WM individuals are more able to recall the initial cue, and thus derive their product judgment from the initial strong cue. Study 1 contradicts these findings and raises important methodological questions regarding the conceptualization of strong and weak cues. Specifically, commonly accepted strong cues (e.g., product reputation) might not influence consumers as expected. Additionally, in a sequence of product evaluation with high vs. low degree of experientiality, study 2 reveals that consumers tend to show a primacy effect that is stronger for higher levels of WM capacity. Moreover, in a sequence of assessing low vs. high degree of experientiality products, consumers reveal stronger recency effects, thus showing that WM reinforces this recency effect. Our findings have important implications for marketers by suggesting that consumers with high WMC are more able to process complex stimuli and retrieve previously presented information on a product quality. These consumers also have a higher tendency to retrieve more information from product scenarios with a high degree of experientiality.     

The long-run reversal in the long run: Insights from two centuries of international equity returns

We perform the most comprehensive test of long-term reversal in national equity indices ever done. Having examined data from 71 countries for the years 1830 through 2019, we demonstrate a strong reversal pattern: the past long-term return negatively predicts future performance. The phenomenon is not subsumed by other established cross-sectional return patterns, including the value effect. The long-term reversal is robust to many considerations but highly unstable through time. Finally, our findings support the overreaction explanation of this anomaly.     

Key drivers of innovation capability in hotels: implications on performance

Innovation capability is critical for the modernization and competitiveness of the hotel industry. This work analyzes the role of hotels' innovative culture, market orientation, and internal marketing as forerunners of innovation capability in hotels, as well as the effect of innovation capability on hotels' performance. The proposed conceptual model is evaluated through structural equation modeling using a sample of 256 Spanish hotels. The results reveal that innovative culture by itself is not a key driver of the hotels' innovation capability. However, internal marketing and market orientation mediate the innovative culture-innovation capability relationship. Innovation capability proves to enhance hotels' market results directly and indirectly through customer equity. Our findings offer hotel managers useful guidance to understand how innovation capability is built within the firm by combining the right organizational culture and practices. Additionally, our study reinforces the financial and non-financial benefits of innovation capability in hotels.     

股权再融资与企业现金分红

股权再融资往往意味着企业存在大量的融资需求,而实践中普遍存在的股权再融资后立即现金分红的现象有悖于募集资金的优序使用原则。基于此,本文从管理层自利视角出发,在对企业股权再融资后现金分红的行为偏好检验的基础上,进一步选取管理层薪酬增长率和企业股权质押活动作为管理层自利程度的代理变量,探索企业股权再融资后现金分红倾向的边界条件,为该行为背后的代理动机提供证明。基于2007~2017年所有A股上市公司样本,研究发现,企业的确存在股权再融资后立即现金分红的行为倾向;而较低的管理层薪酬增长率和企业股权质押活动会加剧企业股权融资对现金分红的促进作用。进一步研究发现,企业股权再融资活动会给现金分红带来消极的市场反应。上述研究结果表明,管理层自利是股权再融资的重要推动因素,而这一行为会给企业利益造成损害。     

The effects of competitive context on consumer response to price changes

ABSTRACT

This paper aims to understand how a brand’s price level, relative to its competitors, will affect consumers’ responses to price changes of the brand. The study uses experiments to examine brand choice responses to price increases and decreases across contexts differing in competitor brands and their respective prices. These experiments are conducted with six consumer goods categories. The research identifies three key factors that affect the size of responses to brand price changes – (1) passing a competitor brand’s price, (2) narrowing versus widening the price gaps with competitors, and (3) whether competitors are predominantly higher or lower priced brands.