The effects of customers’ perceptions of brand personality in casual theme restaurants

Although existing studies recommend that restaurant chains develop and communicate salient brand personalities, no research to date provides empirical evidence that perceptions of unique brand personality by consumers lead to positive outcomes in the restaurant business. Therefore, using a sample of 336 adults, this research models the causal relationships between brand personality perceptions, brand preference, attitudinal loyalty, and positive word-of-mouth (W-O-M) behavior for the Olive Garden and Chili's restaurant chains. It was found that for both chains, brand personality perceptions have a positive effect on brand preference and attitudinal loyalty, brand preference has a positive impact on attitudinal loyalty, and attitudinal loyalty has a positive influence on positive word-of-mouth (W-O-M) communication. In addition, for the Olive Garden and Chili's brands, it was also found that there is a direct link between brand preference and word-of-mouth behavior.     

品牌资产评估:一个模型的提出与验证

在品牌价值日益得到承认与重视的大趋势下,品牌资产评估的重要性也日趋明显。笔者就品牌资产价值从经济学角度给予了理论上的解释,在此基础上提出以品牌获取的超额利润为基准,着眼于未来获利能力的评估模型,并对该模型进行了验证与对比研究。     

顾客体验、品牌认同与品牌忠诚的关系研究——以苹果手机的青年顾客体验为例

将苹果手机的青年顾客体验分为产品体验、服务体验、情感体验和社会体验四个维度,并在此基础上构建苹果手机青年顾客体验的各维度与品牌认同、品牌忠诚的关系模型。结果表明,苹果手机的青年顾客体验的各个维度对其品牌认同的影响是显著的,而青年顾客的品牌认同在其顾客体验与品牌忠诚的关系中发挥着中介作用,这为相关企业的营销活动提供了启示。     

管理者过度自信对股权融资成本的影响——基于信息透明度的视角

以2009年和2010年具备股权再融资资格的中国上市公司为研究对象,从信息透明度的角度考察管理者过度自信对股权融资成本的影响。研究发现:管理者过度自信对上市公司的信息透明度和股权融资成本具有负面影响;具体而言,管理者越倾向于过度自信,上市公司的收益平滑度越高,因此收益透明度越低;相比非过度自信管理者所在的企业,过度自信管理者所在企业的股权融资成本更高。     

Distance and government resource allocation: from the perspective of environmental information disclosure policy change

This article investigates the relationship between environmental information and government resources and focuses on the moderate effect of distance. The results show that (1) the promulgation and implementation of the Measures for the Disclosure of Environmental Information (MDEI) can improve the level and quality of environmental information and then increase resource allocation and (2), after the MDEI are issued, distance has a significant negative moderate effect on the positive impact of MDEI, and the negative moderate effect of distance is more significant in low GDP and marketization regions, high-polluting industries and firms audited by the non-Big 4 accounting firms.     

品牌定义与品牌资产理论研究文献综述

通过对国内外专家、学者和研究机构对品牌与品牌资产理论研究成果的文献综述,分析了国内外品牌及品牌资产理论的研究框架。品牌定义的研究分别为标识理论、个性理论、关系理论和价值理论;品牌资产理论的研究框架分别为财务导向理论、竞争导向理论和顾客导向理论。国外有关品牌定义和品牌资产理论的研究框架比较完善,其理论研究的创新始终追随市场竞争态势的变化。对品牌定义和品牌资产理论框架和知识体系进行研究论证,从而明确学术研究的必有性和对实际工作的指导性。     

Intergenerational equity and the social discount rate

Recent modelling of the costs and benefits of climate change has renewed debate regarding assumptions for the social discount rate in analysing the impacts of environmental change. Previous literature suggests two key factors influence estimates of the social discount rate: the rate of pure time preference and the elasticity of marginal utility of future consumption. These components of the social discount rate reinforce the linkages between the choice of social discount rate and intergenerational distribution. This paper addresses the question of the relationship between intergenerational equity and the social discount rate and promotes the application of intergenerational distributional weights as a means of incorporating intergenerational equity preferences in policy analysis. Intergenerational equity‐adjusted social discount rates are derived as a means of decomposing the intergenerational equity aspect of the social discount rate. The work has significant policy implications for projects with long time frames given the sensitivity of Cost Benefit Analysis outcomes to decisions regarding the social discount rate.     

Declining Discount Rates: The Long and the Short of it

The last few years have witnessed important advances in our understanding of time preference and social discounting. In particular, several rationales for the use of time-varying social discount rates have emerged. These rationales range from the ad hoc to the formal, with some founded solely in economic theory while others reflect principles of intergenerational equity. While these advances are to be applauded, the practitioner is left with a confusing array of rationales and the sense that almost any discount rate can be justified. This paper draws together these different strands and provides a critical review of past and present contributions to this literature. In addition to this we highlight some of the problems with employing DDRs in the decision-making process, the most pressing of which may be time inconsistency. We clarify their practical implications, and potential pitfalls, of the more credible rationales and argue that some approaches popular in environmental economics literature are ill-conceived. Finally, we illustrate the impact of different approaches by examining global warming and nuclear power investment. This includes an application and extension of Newell and Pizer [‘Discounting the benefits of climate change mitigation : how much do uncertain rates increase valuations?’ Journal of Environmental Economics and Management 46 (2003) 52] to UK interest rate data.     

货币市场基金的制度分析

在我国发展货币市场基金已经具有一定的必要性甚至紧迫性。但从我国的实际状况来看,发展货币市场基金的条件并不是很具备。但这并不意味着一定要等到货币市场发展完善之后才进行货币市场基金的培育。其实,货币市场基金与货币市场是同步发展、互相促进的关系,在一定意义上货币市场基金也能够促进货币市场的发展。     

Risk and Capital Structure in the Regulated Firm

This paper studies the role of capital structure in a regulated firm. We show that it affects the prices set by the regulator, the expected price being lower the higher the proportion of debt finance. However, when debt is increased beyond a certain level, the benefit of lower expected prices is offset by their increased variability. We also study the socially preferred capital structure. This is such that consumers carry some risk, in the form of higher prices in adverse economic conditions.