Exploring antecedents of customer citizenship behaviors in services

Social exchange theory explains how a party in social interaction provides the other party with reciprocal rewards. Applying this concept to the customer context, this study empirically investigates determinants of customer citizenship behaviors (CCBs) in services. For the generalizability of the study across various service providers, the data were collected based on Bowen’s (1990) classifications of services. With a total of 665 usable customer responses, structural equation modeling was adapted to test the theoretical research model. This study reveals that customers’ perceived support and justice from the service provider positively influence affective commitment toward the organization, resulting in CCBs. The results show that customers’ perception of organizational support has the partial mediation effect between customers’ perception of organizational justice and their affective commitment. Furthermore, customers’ affective commitment partially mediates the relationship between customers’ perceived organizational justice and CCBs, but fully mediates the effect of customers’ perceived organizational support on CCBs.     

Ethnic identity,socialization factors,and culture‐specific consumption behavior

This study is designed to discover the degree to which ethnic identity and socialization factors influence the culture‐specific consumption behaviors of Asian American young adults, in general as well as in specific situational settings. Findings indicated that perceived parental cultural identification tended to strengthen the ethnic identity, which in turn influenced Asian American young adults' culture‐specific consumption behaviors. However, although their perceived parental acculturation level had no effect on their ethnic identity, it directly weakened the subject group's culture‐specific consumption behaviors. The ethnic‐friendship orientation was found not only to influence ethnic identity but also to influence directly the group's culture‐specific consumption behavior. Further analysis revealed that a situational factor (i.e., the presence or absence of ethnic friends) influenced culture‐specific consumption behavior, regardless of the strength of ethnic identity. © 2004 Wiley Periodicals, Inc.     

A study of Japanese consumers' cognitive hierarchies in formal and informal gift‐giving situations

In recent years, academicians have shown an increasing interest in Asian gift‐giving behavior. Yet studies investigating Asians' cognitive hierarchical structures in the gift‐giving context have been limited. Additionally, the literature suggests that Asian consumers' cognitive structures are particularly affected by situational contingencies. Thus, this study examines Japanese consumers' cognitive hierarchies, in a gift‐giving context, in formal and informal situations utilizing a most‐abstract to least‐abstract cognitive hierarchical framework. Data were collected through a mail survey of Japanese consumers in the greater Tokyo area and six other major metropolitan cities. As hypothesized, structural‐equation modeling results revealed that the Japanese consumer's cognitive hierarchical flow from most‐ to least‐abstract cognitions remained intact regardless of the situation. In contrast, as expected, differing situations were found to influence intercognitive dimensional relationships. Implications of these findings are discussed. © 2003 Wiley Periodicals, Inc.     

Heterogeneity in social values and capital accumulation in a changing world

In a society characterized by a multitude of heterogeneous agents and a large number of possibly immaterial goods, each one having distinct social and personal values, we study the impact of these relative values on intergenerational capital accumulation, as a function of economic and social parameters such as capital mobility, productivity and personal and social values discrepancies. Each agent is modelled by a one-period production function and a two-period intertemporal utility. Agents live, produce and consume over one period, but optimize over two periods, so providing a remaining stock of goods for the next generation. This creates a dynamics in capital accumulation depending on social and individual values. A threshold appears in capital stock accumulation that depends on personal and social values’ volatilities, and below which the initial stock will be depleted. Whereas volatility in social values increases the threshold, impairing capital accumulation, adverse shocks in goods’ values may reverse the dynamics of the accumulation process. Finally, capital mobility specifically favors forerunners, but capital accumulation in one or several sectors may shift social values in their direction, at the expense of other sectors.

     

Uncertainty premia in REIT returns

We provide a systematic study of how financial and real estate uncertainty affect the aggregate return performance of the U.S. REIT market from 1994 to 2017. A temporal causality analysis reveals a negative uncertainty impact on REIT returns. The asset pricing analysis confirms the predictive relation and suggests that REITs are statistically significantly exposed to changes in market-wide uncertainty, for which investors require a return compensation. We also identify economic state variables to explain time-varying uncertainty exposures as well as periodic hedging characteristics of REITs. Finally, we find evidence that the source of uncertainty matters for compensating expected REIT returns.