Misspecified polynomial detrending

This letter shows that substantial errors result in linear detrending of the data when a linear trend is inappropriate. These errors increase without bound with increasing sample size! Also, the reliability of the linear trend is overstated.     

Emojis to conversion on social media

Emojis have become popular in online marketing communications. Marketers use emojis to humanize brand voice and elicit an emotional response from target audiences. However, little is known about how emojis are perceived and what kind of reactions they evoke. Therefore, this study aims to verify whether exposure to emojis leads to an increased intention to purchase and whether the use of emojis impacts campaign effectiveness in a real-life environment. In a theory build-up process, we draw upon the Dual Coding Theory and emotional contagion concept and develop seven hypotheses. We performed two data collection studies to test the hypothesized relations. The first study is based on a questionnaire (N = 318), while the second is based on experimental design in a real-life business environment. Surprisingly, we found that using emojis had a negative effect on purchase intention, while the effect was positive when mediated by positive affect. Emojis increased the effectiveness of marketing campaigns for hedonic products and strongly impacted the return on advertising spent. The findings of this study have both theoretical and practical implications in the observed domains, particularly about the type of products emojis are most effective in promoting, gender differences, and real-life consumer behaviour. This is the first study to use an experimental design in a real-life scenario to capture the role of emojis on campaign effectiveness and decipher the differences between genders and their perceptions of emojis. Theoretical and practical implications together with future prospects are discussed.     

Issues in management information systems planning

lt has been advocated that management information Systems (MIS) planning is an important activity which an organization must perform in order to achieve organizational goals. In this paper, based on a field study of 131 large organizations, several issues related to MIS planning have been examined. These issues include: the impact of current MIS services on the overall competitive position of an organization; the impact of future MIS capabilities on the long-term competitive viability of the organization; the factors which prompted organizations to develop an MIS plan; the formal business planning processes used for the MIS function; the areas covered in the MIS plan; the main driving force in undertaking the development of a long-term MIS plan; and, the usefulness of the MIS plan in directing the organizational MIS activites.It has been shown that organizations vary significantly on each of these major MIS planning issues.     

Benchmarking sustainable E-commerce enterprises based on evolving customer expectations amidst COVID-19 pandemic

The 2019 coronavirus disease (COVID-19) pandemic has seriously impacted the performance of all types of businesses. It has given a tremendous structural boost to e-commerce enterprises by forcing customers to online shopping over visiting physical stores. Moreover, customer expectations of the digital and operational capabilities of e-commerce firms are also increasing globally. Thus, it has become crucial for an e-commerce enterprise to reassess and realign its business practices to meet evolving customer needs and remain sustainable. This paper presents a comprehensive performance evaluation framework for e-commerce enterprises based on evolving customer expectations due to the COVID-19 pandemic. The framework comprises seven primary criteria, which are further divided into 25 sub-criteria, including two sustainability factors, namely, environmental sustainability and carbon emissions. The evaluation approach is then practically demonstrated by analyzing the case of three Indian e-commerce firms. The results are obtained using a multi-criteria decision-making (MCDM) method, namely, Fuzzy VIKOR, to capture the fuzziness of the inherent decision-making problem. Further, numerical analysis is conducted to evaluate and rank various e-commerce enterprises based on customer expectations and satisfaction benchmarks. The findings explain the most important criteria and sub-criteria for e-commerce businesses to ensure customer expectations along with their economic and environmental sustainability.     

Omitted variables,variability of estimated parameters and the appearance of autocorrelated disturbances

This paper shows that in a standard regression model with omitted variables, the OLS formula for the estimated variance matrix of the regression coefficients is more likely to underestimate the appropriate criterion of estimator reliability which is the Mean Square Errors matrix. Using examples of two and three regressor models, we show that overestimation, though possible, occurs in rather special cases. Throughout, our analysis is contrasted with that of Chaudhuri (1977) and clarifies some ambiguities of that paper. Finally, we disagree with Chaudhuri who distinguishes between the corresponding coefficients in the correct and the misspecified models. This distinction is inappropriate and leads to a misplaced criticism of some GLS variants when errors are serially correlated. A first-order Markov process is an inexact representation of serial correlation which is due to omitted regressors.     

Managerial incentives for undertaking exchange offers

This paper empirically examines management's motivation to convey information regarding firm value through exchange offers. We report a positive relation between stock price reactions to announcements of exchange offers and managerial stockholdings, and a weak negative relation with salary plus bonus. These findings are consistent with the incentives required for managers to signal firm value through exchange offer-induced leverage change.     

The cost-effectiveness of levodopa/carbidopa intestinal gel compared to standard care in advanced Parkinson’s disease

Background: Parkinson’s disease (PD) is an incurable, progressive neurological condition, with symptoms impacting movement, walking, and posture that eventually become severely disabling. Advanced PD (aPD) has a significant impact on quality-of-life (QoL) for patients and their caregivers/families. Levodopa/carbidopa intestinal gel (LCIG) is indicated for the treatment of advanced levodopa-responsive PD with severe motor fluctuations and hyper-/dyskinesia when available combinations of therapy have not given satisfactory results.

Aims: To determine the cost-effectiveness of LCIG vs standard of care (SoC) for the treatment of aPD patients.

Methods: A Markov model was used to evaluate LCIG vs SoC in a hypothetical cohort of 100 aPD patients with severe motor fluctuations from an Irish healthcare perspective. Model health states were defined by Hoehn &; Yahr (H&;Y) scale—combined with amount of time in OFF-time—and death. SoC comprised of standard oral therapy?±?subcutaneous apomorphine infusion and standard follow-up visits. Clinical efficacy, utilities, and transition probabilities were derived from published studies. Resource use was estimated from individual patient-level data from Adelphi 2012 UK dataset, using Irish costs, where possible. Time horizon was 20 years. Costs and outcomes were discounted at 4%. Both one-way and probabilistic sensitivity analyses were conducted.

Results: The incremental cost-effectiveness ratio for LCIG vs SOC was €26,944/quality adjusted life year (QALY) (total costs and QALYs for LCIG vs SoC: €537,687 vs €514,037 and 4.37 vs 3.49, respectively). LCIG is cost-effective at a payer threshold of €45,000. The model was most sensitive to health state costs.

Conclusion: LCIG is a cost-effective treatment option compared with SoC in patients with aPD.