Effects of Booking.com's new scoring system

Booking.com provides a massive database compiling millions of reviews about thousands of accommodations worldwide that hotel managers and academics have extensively consulted during the past decade. In 2019–2020, however, the famous website changed several aspects of its methods of calculating hotel scores, the most important one being a change from its peculiar 2.5–10 scale to a more conventional 1–10 scale. Such novelties may cause changes in hotel scores that do not reflect changes, if any, in customer satisfaction. This article offers an initial investigation into the nature and consequences of those changes that professionals and academics should consider to avoid errors in future studies that involve using Booking. com's database.     

A detailed behavioral analysis on consumer and customer changing behavior with respect to social networking sites

The main purpose of the study is to analyze the changing behavior of the customers on various products by conducting a customer review. The analysis is performed in three major steps such as, calculating customer review quality, calculating behavior quality of customer and review comparison. Behavioral analysis is a kind of science which helps to study and understand the behavior of human beings. It studies the factors that influence the behavior of living beings and non-living beings on a larger aspect. A special emphasis is placed on understanding, describing, predicting and changing behavior. Understanding the behavior of individuals is a tedious job to be performed and hence to evaluate the final result, the study used Chi-Square Method. As a tool, the paper employs customer reviews to gather primary and secondary data. These reviews inform, educate and explain the benefits of using customer reviews in gathering data. It is one of the best and easiest methods to formulate the score of comparison between customer's profile and their review. Findings of the study proved that depending on the customer's profile, the quality of the product varied. Furthermore, high rates of efficiency and accuracy is observed in gathering information on the products via customer's profile and review. Study authenticates an inclusive approach to explain factors manipulating consumer awareness, observation and sensitivity on product value. A depth analysis was carried out to identify the purchase decision, brand behavior, price influence the buying behavior and opinion of the customers. However, the factors such as high quality, social media networking sites and customer's profiles had a greater impact on buying behavior of the customers.     

A Field Study of the Review Process: Research Note

Despite the stated importance of the audit review process in auditing standards and textbooks, research on the process itself is limited. This study provides evidence on the nature and purpose of the review process by examining the actual review notes prepared by managers of a Big-6 accounting firm. A sample of twenty-eight audit engagements resulting in 3,008 separate review notes was examined. The results suggest that quality control aspects appear to be the main focus of the review process. Review notes sometimes indicated the need to gather further information and/or undertake additional testing, and provided direct as well as indirect advice on the audit approach to subordinates. Few surprises resulted from the review process, and the review notes and approaches varied among managers.     

通货膨胀不确定性文献评述

通货膨胀不确定性是扭曲微观经济主体的决策行为,产生通货膨胀社会成本的一个重要因素,研究通货膨胀不确定性与通货膨胀水平、经济活动以及货币政策规则之间的关系能为货币当局提供决策支持。本文从理论模型和实证研究两个方面对通货膨胀不确定性的文献进行梳理与评述,并探讨当前通货膨胀的成因与对策。     

Effects of the Booking.com scoring system

Booking.com provides a large travellers’ reviews database that is useful for consumers, hoteliers and academics. Recent research discovered unexpected peculiarities in its scoring system, suggesting it could lead to “inflated scores” for hotels on their website. To confirm the above suspicions, the methodology used in this paper compares values assigned on Booking.com with those on Priceline that have a conventional scoring system. Conclusions show significant distortions, particularly in hotels with low and medium scores.     

The commercial contribution of clinical studies for pharmaceutical drugs

Pharmaceutical drugs are rigorously evaluated through clinical studies. The commercial consequences of such clinical studies, both to the promotion for and sales of drugs, are largely under-researched. The present study answers the following research questions: 1) How does the evolution of clinical study outcomes affect product sales? 2) How does the evolution of clinical study outcomes affect a firm's promotion expenditures to physicians and consumers? 3) Is the assessment of the responsiveness of sales to promotion expenditures biased when the analyst omits the role of clinical studies? We summarize a comprehensive body of clinical studies in three metrics: valence, dispersion, and volume. We extend the literature with the following findings. A higher valence and volume of clinical studies (i.e., more positive and larger number of studies) increase sales. A higher valence of clinical studies increases spending on both direct-to-consumer advertising and direct-to-physician promotion. A higher dispersion among clinical studies decreases spending on direct-to-consumer advertising. A higher volume of clinical studies has no effect on direct-to-physician promotion, but decreases direct-to-consumer advertising. Furthermore, the results show that omitting these metrics from a market response model leads to an overestimation of the responsiveness of sales to promotion expenditures.     

The becoming of user-generated reviews: Looking at the past to understand the future of managing reputation in the travel sector

The emergence of User-Generated-Content (UGC) is challenging the equilibrium of reputation management practices prompting widespread change and organizational restructuring. Formal accreditation schemes mingle with less formal mechanisms which place users in the middle making them draw their own conclusions about products and services. This paper explores how UGC reviews and ratings have intensified the contingency of organizational reputation in the travel sector. The findings are based upon a corpus of data including: a field study at the offices of the largest travel user-generated website, TripAdvisor, and a netnographic approach. In particular we discuss the shift from Word-Of-Mouth to eWOM, the consequences for the sector and provide a balanced view of the role of reviews, ratings and lists. We are concluding with a conceptual model for managing online reputation in the era of UGC, while acknowledging the current process of transformation in reputation management.     

我国住房保障制度研究态势评述

本文研究目的,回顾和总结我国住房保障制度的一般理论研究,提出进一步的研究方向。研究结论,研究中存在的问题主要有,经验性研究较多,就事论事现象明显;理论性研究较少,基础理论研究较薄弱,理论体系有待建立。研究方法上存在缺陷与不足,应用研究缺乏理论指导,解决实际问题能力差。研究工作缺乏必要的协调,研究力量分散,存在低水平重复等问题。未来将要重点研究的内容包括,住房保障制度的科学理论构建;住房保障的体制和机制研究;住房保障制度中具体标准、模式以及理论体系研究。     

Meta-analysis in finance research: Opportunities,challenges, and contemporary applications

The number of empirical research studies in finance exhibits a strong upward trajectory, which often produces large differences in empirical results and impedes the drawing of consistent conclusions in relation to the phenomenon under examination. This creates demand for methods like meta-analysis that objectively consolidate and evaluate the empricial literature in a research field. Meta-analysis is a group of statistical methods to aggregate prior empirical studies, to discover and explain consistencies as well as inconsistencies within reported results, and to detect and filter out distorting effects from publication selection or model misspecification. While meta-analysis is a standard tool for research synthesis and evidence-based decisions in many related research disciplines, such as management, marketing, or economics, it has been rarely applied in finance. The goal of this article is to provide a comprehensive overview and discussion of the opportunities of meta-analytical research in finance, to present recent applications of meta-analysis in finance, as well as to discuss related challenges and limitations. Thereby, we aim at increasing the awareness and acceptance of meta-analysis and stimulating its future application in the finance field.     

Please,talk about it! When hotel popularity boosts preferences

Many consumers post on-line reviews, affecting the average evaluation of products and services. Yet, little is known about the importance of the number of reviews for consumer decision making. We conducted an on-line experiment (n = 168) to assess the joint impact of the average evaluation, a measure of quality, and the number of reviews, a measure of popularity, on hotel preference. The results show that consumers’ preference increases with the number of reviews, independently of the average evaluation being high or low. This is not what one would expect from an informational point of view, and review websites fail to take this pattern into account. This novel result is mediated by demographics: young people, and in particular young males, are less affected by popularity, relying more on quality. We suggest the adoption of appropriate ranking mechanisms to fit consumer preferences.