基于全球竞争的我国企业品牌战略

品牌能为企业带来巨大的财富，二十一世纪是品牌的世纪，品牌不仅是企业的灵魂和再现，而且已经成为衡量一个国家经济实力的标杆。本文首先分析了全球化背景下的品牌价值和地位，在对我国企业品牌发展中存在问题剖析的基础上，提出了我国企业在面对全球竞争的条件下品牌发展战略。     

The rejection of brand hegemony

Purveyors of strong brands can, through a number of the means intended to bolster their brand image, alienate and frustrate their consumers to the point of creating a broad-based reaction — the rejection of brand hegemony. The literature describes a number of motivations for anti-consumption behavior. This paper explores the rejection of brand hegemony as a motivation for, and an expression of, anti-consumption, through a phenomenological study of the open source software (OSS) community. The study explores whether, and to what extent, the OSS community actively rejects software's dominant brand, Microsoft, and what motivations may be at work in the creation and expression of that rejection. Findings elucidate the necessary conditions for the rejection of brand hegemony to occur, revealing valuable lessons for vendors. These conditions comprise environment, positive motivation and negative motivation factors. The first two conditions are relatively constant, regardless of vendor's actions, while the last is largely of the vendor's creation. The managerial and theory-building implications of the study indicate that purveyors of strong brands may inadvertently create their own anti-consumption nemesis.     

CREATIVE ACCRUAL ACCOUNTING IN THE PUBLIC SECTOR: ‘MILKING’ WATER UTILITIES TO BALANCE MUNICIPAL BUDGETS AND ACCOUNTS

Traditionally, the financial balance of public sector economic entities has been determined by balanced budgets and cash‐based or modified cash‐based budgetary accounting. Since the 1990s the superiority of accrual accounting in the public sector context has been emphasized by both practitioners and academics. This paper demonstrates that accrual accounting also offers opportunities for the use of creative accounting, or earnings management, in the public sector, at least as long as accounting is performed in accordance with diverse national norms instead of internationally acceptable accounting standards.     

新疆企业品牌发展对策研究

品牌从本质上讲是顾客对企业实力和运营状况的综合评价,也是沟通企业与顾客之间的桥梁。企业是品牌运营的主体,新疆企业在品牌运营方面虽然取得了一定成绩,但总体上还存在知名品牌少、规模小、实力弱等问题。本文就新疆企业品牌存在的问题提出了一些具体的对策建议。     

Effectiveness of brand placement: New insights about viewers

Since traditional media have become saturated, the technique of product placement has been attracting growing interest. This research explores new insights concerning viewers' reactions during a second viewing of a movie. A sample of 3532 French viewers of DVDs has been used to link the way the movie was chosen, viewed and appreciated (or not) with a spontaneous brand placement recall, the day after the film was watched at home. Results make a contribution to strengthening professionals' interest in the technique, and to adding to academic knowledge of the topic. A first viewing of the movie at the cinema improves brand placement recall, as does watching the movie at home on a large home cinema screen. Such an improvement also occurs when a DVD movie is chosen either because of the movie director or when the viewer likes the movie.     

What determines the exit decision for leveraged buyouts?

How and when to exit portfolio company investments are critical choices facing private equity funds. In this paper we analyze 1022 European private equity exits, using information on fund and portfolio company characteristics, and on conditions in capital markets. For over 43% of the exits, private equity funds sold to each other and we analyze why such secondary buyouts have gained in popularity relative to IPOs and sales to corporate acquirers. We find that the exit route depends on various portfolio company characteristics, and that conditions in the debt and equity markets have a strong influence on exit choice. The existing literature has tended to portray the IPO is the “preferred” exit route. However, our analysis suggests this is mistaken: private equity funds take advantage of ‘windows of opportunity’, and the exit route that maximizes value varies with market conditions.     

The Impact of Exchange Context on the Activation of Equity in Ultimatum Games

In this paper we report the results of additional exchange ultimatum game experiments conducted at the same time as the exchange ultimatum game experiments reported in Hoffman et al. (Games and Economic Behavior, 7(3), pp. 346–380, 1994). In these additional experiments, we use instructions to change an impersonal exchange situation to a personal exchange situation. To do this, we prompt sellers to consider what choices their buyers will make. Game theory would predict that thinking about the situation would lead sellers to make smaller offers to buyers. In contrast, we find a significant increase in seller offers to buyers. This result suggests that encouraging sellers to thinking about buyer choices focuses their attention on the strategic interaction with humans who think they way they do in personal exchange situations, and who may punish them for unacceptable behavior, and not on the logic of the game theoretic structure of the problem.     

Derived versus full name brand extensions

Most brand extension studies follow the assumption that brand extensions use the full original parent brand name (e.g., Oral-B tooth brush may extend to Oral-B dental floss). However, some companies use derived brand names in their brand extension strategies (e.g. Nestea Iced Tea). This study explores the advantages and disadvantages of derived brand extensions compared to full name extensions. The study examines the importance of target market effects on the evaluation of both brand extension strategies. Findings support the idea that derived brand names leverage parent brand evaluations and protect parent brand from extension failures.     

Risk,illiquidity or marketability: What matters for the discounts on private equity placements?

Using a clean sample of private equity placements over the period of 1999 to 2012, we examine the determinants of the discounts on private placements. Classifying various determinants into three categories, namely risk, illiquidity, and marketability, we show that risk and marketability are significant determinants of the discount on private placements over the entire sample period. However, we identify a structural break in the relation between the discount on private placements with illiquidity and, to a lesser degree, marketability. Specifically, we find that liquidity is a more important determinant during the pre-2003 period, but marketability becomes a more important determinant during the post-2003 period. We attribute the structural break to substantial changes in market microstructure during our sample period. Lower transaction costs make illiquidity less of a concern for investors, whereas more active trading by investors calls for a higher discount for the lack of marketability.