Periodic strategies in optimal execution with multiplicative price impact

We study the optimal execution problem with multiplicative price impact in algorithmic trading, when an agent holds an initial position of shares of a financial asset. The interselling decision times are modeled by the arrival times of a Poisson process. The criterion to be optimized consists in maximizing the expected net present value of the gains of the agent, and it is proved that an optimal strategy has a barrier form, depending only on the number of shares left and the level of the asset price.     

把握基层管理者执行力提升的关节点

基层管理者的执行力大小直接关系到组织的成败得失,并反映了组织人力资源管理的绩效情况.基层管理者要提高执行力,必须明确目标并制定行动计划,充分认识本组织的资源优势并加以优化配置,协调好本组织与相关组织、上级组织和下级组织之间的关系,让员工拥有梦想,努力将"中游水平"整体提升.     

基于复合战略控制系统的战略执行力研究

从控制理论的角度对战略控制系统与战略执行力的关系、传统战略控制系统进行了分析,在此基础上构建了基于复合战略控制系统的战略执行流程,为提高战略执行力提供了一种新思路。     

A game theoretic approach for analyzing the competition between national and store brands by considering store loyalty

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Vision (im)possible? The effects of in-store signage on customers’ visual attention

We used two eye-tracking field experiments to investigate the extent to which in-store signage is used during navigation and decision making, and how the viewing of signage influences customers’ visual attention and choice behavior. One hundred and seventy-five customers at a grocery store were exposed to signage stimuli while carrying out predefined shopping tasks. Experiment 1 shows that attention toward signage is affected by customers’ levels of store familiarity and in-store search stage (navigation vs. decision making). Experiment 2 demonstrates that signage has a considerable impact on the direction and magnitude of customers’ visual attention during decision making.     

Private label shoppers between fast fashion trends and status symbolism – A customer characteristics investigation

The question who the private label prone consumer is has received a lot of attention in research. While we so far have a good understanding of the private label shopper in the grocery industry, there is limited research in other industries. We assess private label shopper characteristics as a driver of private label choice using a unique data set of an online only fashion retailer covering 68,147 women shoes consumers in Germany. Fashion consumers are faced with a tradeoff between price and seasonality of fashion items as discounts are used to sell last season's stock. We find that private label choice is positively influenced by price orientation and less by discount proneness. Thus, private label shoppers are rather a fashion savvy segment focusing on buying more in season but at a lower price.     

强化责任意识提升审计执行力

本文结合工作实践,从提升科级干部履职能力,有效执行能力,务实创新三个角度分别阐述审计干部强化责任意识的重要意义及有效途径。     

Impacts of product,store and retailer perceptions on consumers’ relationship to terroir store brand

This research shows that consumers’ relationship to terroir store brand, measured through attachment and two facets of brand loyalty (attitudinal and behavioral) is respectively influenced by their perceptions of the product, retailer and store. More specifically, the perceived authenticity of the products of the terroir store brand and its perceived value have a positive and significant influence on the attachment and behavioral loyalty of the regular buyers of this store brand and a positive and significant influence on the attachment of its occasional buyers. Trust in the retailer has a positive and significant impact on the behavioral loyalty of the regular buyers of this terroir store brand while perceived image of the store has only a positive and significant impact on the attitudinal loyalty of its occasional buyers.     

Managing a Global Retail Brand in Different Markets: Meta-Analyses of Customer Responses to Service Encounters

This study investigates how retailers can leverage their brand to shape customers’ satisfaction with service encounters. It develops and tests hypotheses about how brand, store, and consumer factors moderate customer responses to experience clues during retail service encounters. Six meta-regression analyses synthesize and compare results from 842 satisfaction equations describing customers’ encounters with a global retailer operating 400 stores in 32 countries. The results show how customers weigh their perceptions of service encounters differently depending on brand, store, and consumer factors. In markets where customers believe the retailer has high holistic brand quality, they place less weight on experience clues within the store. In markets where customers believe the retailer’s service brand promise, they place more weight on in-store experience clues. In markets where the retailer promises utilitarian value, customers weigh functional experience clues more heavily. In markets with an online purchasing channel, the effect of experience clues common to offline and online store environments is magnified, and unique clues are diminished. In addition, customers heavily weigh experience clues that fit their goals. In general, retail success factors include high brand quality (which makes customers more forgiving), a service brand promise that is mirrored in the store image (which makes customers attend to the experience clues aligned with them), and the careful monitoring and managing of retail touchpoints (to customize experience clues to each market). In this way, retailers can use customer-based strategies to effectively design and manage their global retail brand in different markets.     

Why do some consumers shop in this pharmacy? A cross-check of vulnerable characteristics and store types

Research on vulnerable consumers remains unfailing in macromarketing and social marketing. Yet it is unclear how to operationalize the vulnerable consumers by demographics and further to this it is rarely touched how the vulnerable consumers defined by different measures make decision when choosing the place to shop especially in pharmacy retailing sector. The authors conduct a comparative study of variously-defined vulnerable consumers for their shopping store types in an urban Chinese city to investigate how people with distinct backgrounds develop their decision making rules and choose different types of retail pharmacies. This paper casts light on customer heterogeneity associated with different dimensions of vulnerability by using consumer demographics, and indicates that four dimensions of vulnerability exist as cognitive capability, social relations, behaviors, and the institutional protection in health-related sector. These four aspects of vulnerability play a significant role in identifying different shop selection patterns. Findings suggest that efforts to boost store patronage targeting on various consumer groups should have different strategies to reach consumers’ mindsets.