bluuebunny/crossref_metadata_2025_split huggingface dataset:
The value premium and the January effect
Authors: Chou Julia , Das Praveen Kumar , Uma Rao S.P. 
Published: May 2011

PurposeThe purpose of this paper is to investigate the seasonal effect in the value premium puzzle. It studies whether the book‐to‐market effect is an outcome of the January effect observed among stock returns.Design/methodology/approachThe paper uses returns of portfolios based on size and BE/ME ratios as Fama and French suggest to define value premium and investigate the seasonality of the BE/ME effect. The paper tests whether the value premiums observed among large and small stocks are different in January and non‐January months. It examines the turn‐of‐the‐year effect on the value premium by analyzing the returns of BE/ME portfolios during the first and last ten trading days of a calendar year.FindingsEmpirical evidence supports the fact that value premium has different patterns in January and non‐January months for large and small capitalization firms. It was found that large stocks have a significant value premium only in January and this high January value premium among large stocks is mainly driven by loser stocks at the turn of the year. In contrast with large stocks, the value premium of small stocks occurs only in non‐January months.Originality/valueThis paper shows that value premium of large and small stocks are different in January and non‐January months. Furthermore, the past performance of stocks plays a key role in the observed January value premium among large stocks. Finally, this study provides evidence to show that the value premium among large stocks may be explained by investor trading behavior.
Corporate failure prediction: a study of public listed companies in Malaysia
Authors: Ong Shuk‐Wern , Choong Yap Voon , Khong Roy W.L. 
Published: May 2011

PurposeThe objective of this paper is to develop a model that can predict financial distress amongst public listed companies in Malaysia using the logistic regression analysis.Design/methodology/approachThe logistic regression analysis used in this paper is geared towards developing a model that can predict financial distress amongst public listed companies in Malaysia.FindingsThe results prove that five financial ratios have been found to be significant and useful for corporate failure prediction in Malaysia. The overall predictive accuracy is 91.5 percent and this demonstrates that the logistic regression analysis used is a reliable technique for financial distress prediction. In addition, the predictive accuracy of the model in this paper is higher than that of previous studies, which utilised discriminant analysis rather than the method adopted in this research.Originality/valueThe economic crisis mostly began to affect Malaysia's economic standing in July 1997 causing many companies to fall into financial distress, as they were unable to cope with the unexpected downturn. A financial distress prediction model is therefore required to act as a predictor of Malaysian public listed companies' well‐being prior to a financial crisis and to gauge the warning signals of the onset of a downturn in order to strategize their survival techniques during this phase. This study focuses on public listed companies in Malaysia, thus the model adopted is tailored to suit the given context.
A note on the price of trade credit
Authors: Chludek Astrid K. 
Published: May 2011

PurposeIn contrast to common literature that suggests that trade credit is an extremely expensive source of financing with annual interest rates exceeding 40 percent, this paper seeks to argue that the average interest rate of trade credit does not exceed the cost of alternative funds, thereby explaining why trade credit constitutes a substantial part of the optimal financing mix of large, liquid, and capital market listed firms.Design/methodology/approachBesides providing a formula for estimating a firm's actual trade credit interest rate, this paper is mainly based on a descriptive analysis of trade credit use as well as on survey results of a broad range of prior studies.FindingsThe paper finds that highly liquid firms use substantial amounts of trade credit, thus indicating that trade credit use per se cannot be as expensive as literature supposes. In line, estimated average interest rates are about 4 to 6 percent.Originality/valueBy arguing that actual cost of trade credit use is far from being as high as literature supposes, this paper provides important implications for optimal short‐term financing strategies as well as for the assessment of trade credit use in credit worthiness analyses.
Report on the 30th Anniversary Charleston Conference
Authors: Moore Sievers‐Hill Arlene 
Published: May 2011

PurposeThe purpose of this paper is to report on a conference and the individual presentations, as well as to make general observations, and relate them to important issues in acquisitions and collection development.Design/methodology/approachThe design is to describe the conference by individual presentations and general observations at this conference and preceding Charleston conferences from the viewpoint of an attendee.FindingsThe findings are that acquisitions and collection development are undergoing fundamental changes that are changing operations and services rendered to faculty and students.Practical implicationsThe reporting of conference presentations on the important changes, both formal presentations and informal discussions, furthers the knowledge of the important current challenges in the field. Through these means information will be relayed to readers to help them enact their own changes.Originality/valueReporting on this conference cites the new trends and important issues in the fields of acquisitions and collection development from the perspectives of the conference presenters and attendees.
Effects of trust beliefs on consumers' online intentions
Authors: Becerra Enrique P. , Korgaonkar Pradeep K. 
Published: May 2011

PurposeThe purpose of this study is to examine the simultaneous effects of the product, brand, and vendor trust beliefs on consumers' online intentions, i.e. the intention to purchase and the intention to provide personal information online.Design/methodology/approachThe study uses an online 2×2×2 between‐subjects factorial experiment design with two vendor trust beliefs levels (high/low), two brand trust beliefs levels (high/low), and two product trust beliefs levels (high/low). Multivariate analysis of covariance, linear regression, and the SOBEL test were used to analyze the hypotheses.FindingsThe results suggest that brand trust beliefs affect online intentions, and may be needed to increase online sales. The influence of vendor trust beliefs on online intentions varies with brand trust, beliefs for products and for services is augmented by brand trust beliefs.Research limitations/implicationsThe limitations are those typically applied to experimental methodology. Intentions were used as surrogate for behavior, and a fictitious e‐tailer selling two products with fictitious brands was used.Practical implicationsE‐tailers are encouraged to carry reputable brands and prominently display information about these brands on their web sites. This will improve consumers' trust beliefs, increasing conversion rates, and reducing shopping cart abandonments.Originality/valueThe influence of trust beliefs on online behavior, notwithstanding its importance, remains under‐researched. The paper addresses this gap in the literature. Specifically, it addresses the effects of the simultaneous influence of vendor, brand, and product trust beliefs on shoppers' online intentions. And it decomposes online intentions into its components, i.e. intentions to provide personal information and intentions to purchase, to understand these simultaneous effects not addressed before. The results contribute to the growing literature on trust and consumer online behavior.
Marketing communications for special events
Authors: Hede Anne‐Marie , Kellett Pamm 
Published: May 2011

PurposeRelatively little is known about marketing communications within the context of special events. The aim of this paper is to begin to address this gap in knowledge by analysing managerial practice, consumer perceptions and preferences in relation to marketing communications for this market offering.Design/methodology/approachA case study analysis of Festival Melbourne 2006 was undertaken using marketing communications collateral, ethnographic (participant observations) and interview (in‐depth and focus group) data.FindingsA centralised approach to marketing communications was adopted for this event, but was difficult to implement. In addition, it was found that the marketing communications in situ did not assist attendees to make the most of their event experiences. It was also found that research participants prefer to receive information about special events passively.Practical implicationsWith the increasing levels of globalisation and standardisation in the event sector there is a need to attain a balance between centralisation and adaptation in relation to marketing communications strategies and their implementation. Furthermore, it is imperative that marketing communications are integrated across all stages of consumption.Originality/valueThis study adds to the body of knowledge about marketing communications, and more generally within events. It also adds to the debate surrounding the integration of marketing communications.
Political market orientation and strategic party postures in Danish political parties
Authors: Ormrod Robert P. , Henneberg Stephan C. 
Published: May 2011

PurposeThe purpose of this paper is to investigate the relationship between the strategic postures and political market orientation profile of two Danish parties. Profile stability at the organisational level is used as a control variable.Design/methodology/approachThe strategic political postures of two Danish parties are derived using a self‐typing study. Based on configuration theory, ideal organisational profiles to implement these studies are juxtaposed with the actual political market orientation profile for each party, gained from two datasets analysed using Partial Least Squares. Member activity levels are used to control for organisational stability.FindingsThe self‐typing study revealed that Party A was perceived to follow a relationship builder posture, and Party B a convinced ideologist posture. However, both market orientation profiles resembled the organisational structures of a convinced ideologist. Thus, Party A exhibits a mismatch between strategic orientation and implemented organisational profile, based on configuration theory. The results were generally stable across political activity levels.Research limitations/implicationsThe investigation represents an intra‐group analysis, i.e. it is concerned only with two parties in one political system; however, this reflects the oligopolistic character of the vast majority of electoral markets and thus, further research could compare results across political systems. A link with performance variables needs to be established to assess the extent to which the organisational alignment results in competitive advantages for a party.Practical implicationsWhilst there exists a general cohesiveness within parties regarding the overall strategic posture, political managers need to be aware of the subtle differences that can affect the market orientation of different groups within the party.Originality/valueThe study contributes to understanding the concept of market orientation in the political sphere. More specifically, it empirically links political market orientation as an issue of political marketing implementation on the one hand, and strategic postures of parties as a strategic issue on the other, following a configuration theory logic.
Celebrity endorsement, brand credibility and brand equity
Authors: Spry Amanda , Pappu Ravi , Bettina Cornwell T. 
Published: May 2011

PurposeThis research aims to examine the impact of celebrity credibility on consumer‐based equity of the endorsed brand. The mediating role of brand credibility and the moderating role of the type of branding (parent versus sub‐brand) employed by the endorsed brand on the endorser credibility‐brand equity relationship are also to be examined. The endorser credibility‐brand equity relationship was developed using associative learning principles whereas the brand signalling theory is applied to examine the mediating role of brand credibility.Design/methodology/approachThe conceptual framework was tested using a field experiment. Data were collected using a mall‐intercept approach at a shopping centre from a sample of consumers in a metropolitan Australian city. The data were analysed using structural equation modelling.FindingsResults suggest endorser credibility has an indirect impact on brand equity when this relationship is mediated by brand credibility. This mediating relationship was moderated by type of branding. However, the “endorser credibility‐brand credibility” and “endorser credibility‐brand equity” relationships did not vary according to the type of branding employed.Practical implicationsIn support of past findings, the present study shows that a celebrity endorser should be one who is perceived as credible based on their attractiveness, expertise and trustworthiness. Moreover, in this research, even a moderately low credibility endorser proved to be able to build the brand.Originality/valueThe present study is one of the first to empirically examine and confirm the impact of endorser credibility on brand credibility and consumer‐based brand equity.
Feedback information and consumer motivation
Authors: Sobh Rana , Martin Brett A.S. 
Published: May 2011

PurposeMarketers spend considerable resources to motivate people to consume their products and services as a means of goal attainment. Why people change their consumption behaviour is based largely on these goals; many products and services are used by consumers in an effort to attain hoped‐for selves and/or to avoid feared selves. Despite the importance for marketers in understanding how current performance influences a consumer's future efforts, this topic has received little attention in marketing research. The aim of this paper is to fill some of the gaps.Design/methodology/approachThe paper provides a theoretical framework and uses two studies to test this. Study 1, of 203 women, aged 27‐65, examines the predictions in the context of women and visible signs of skin aging. Feedback information is measured and approach and avoidance regulatory systems are manipulated by priming hoped‐for and feared possible selves. Study 2, of 281 undergraduate men and women, replicates the findings of Study 1 with manipulated feedback, using a different context (gym training) and a sample of both male and females.FindingsThe research shows that when consumers pursue a hoped‐for self, it is expectations of success that most strongly drive their motivation. It also shows why doing badly when trying to avoid a feared self is more motivating than doing well.Practical implicationsThe findings have important implications as they reveal how managers can motivate customers to keep using a product or service.Originality/valueThe paper makes several contributions to the consumer goal research literature since little is known about how positive (hoped‐for selves) and negative (feared selves) reference points in self‐regulation differentially influence consumer goal‐directed behaviour.
Dealing with social desirability bias: an application to charitable giving
Authors: Lee Zoe , Sargeant Adrian 
Published: May 2011

PurposeThis paper aims to address the issue of survey distortion caused by one of the most common and pervasive sources of bias, namely social desirability bias (SDB). Despite 50 years of research, there are still many unanswered questions about its conceptualisation and operationalisation. The authors argue that traditional measures of SDB are inadequate and that the context in which the research is being conducted should be reflected in the measures employed. Hence, the authors develop and validate a multi‐dimensional scale that may be used to measure the degree of SDB present in responses to giving surveys.Design/methodology/approachFollowing initial scale development procedures a convenience sample of 820 donors to a national charity was employed to refine the resultant scale items. Exploratory factor analysis and reliability tests were conducted to establish the dimensionality of the new scale and its reliability. Using a separate sample of 1,500 active donors, the scale was then subject to confirmatory procedures to test its predictive validity.FindingsThe findings support the assertion that SDB is a multi‐dimensional construct consisting of six dimensions. However, in the context of postal surveys it is found that self‐deception and the degree of intrinsic benefit accruing to a donor are the primary determinants of the level of SDB an individual will exhibit. The authors also highlight the significance of the SDB issue since in the survey reported here, 65 per cent of respondents were found to over‐report their giving.Originality/valueThis is one of the first published studies that has been able to explore the predictive validity of a SDB scale. The work has expanded our understanding of the determinants of SDB and provided an instrument that may now be employed to reduce a significant proportion of this error in giving surveys.
Social marketing, individual responsibility and the “culture of intoxication”
Authors: Szmigin Isabelle , Bengry‐Howell Andrew , Griffin Christine , Hackley Chris , Mistral Willm 
Published: May 2011

PurposeSocial marketing initiatives designed to address the UK's culture of unhealthy levels of drinking among young adults have achieved inconclusive results to date. The paper aims to investigate the gap between young people's perceptions of alcohol consumption and those of government agencies who seek to influence their behaviour set within a contextualist framework.Design/methodology/approachThe authors present empirical evidence from a major study that suggests that the emphasis of recent campaigns on individual responsibility may be unlikely to resonate with young drinkers. The research included a meaning‐based and visual rhetoric analysis of 261 ads shown on TV, in magazines, on billboards and on the internet between 2005 and 2006. This was followed by 16 informal group discussions with 89 young adults in three locations.FindingsThe research identified the importance of the social context of young people's drinking. The research reveals how a moral position has been culturally constructed around positioning heavy drinking as an individual issue with less regard to other stakeholders and how the marketing agents function in this environment. Calls to individual responsibility in drinking are unlikely to succeed in the current marketing environment.Research limitations/implicationsThe qualitative research was limited to three geographical locations with young adults between the ages of 18 and 25.Practical implicationsThe authors explore implications for social marketing theory and for UK alcohol policy. In particular, the authors suggest that the social norms surrounding young people's drinking need to be acknowledged and built into “sensible” social marketing campaigns. The authors suggest that shame, fear and guilt appeals should be replaced with more constructive methods of ensuring young people's safety when they drink.Originality/valueFrom the theoretical perspective of contextualism, the paper brings together empirical research with young adults and a critical analysis of recent social marketing campaigns within the commercial context of a “culture of intoxication”. It provides both a critique of social marketing in a neo‐liberal context and recognition of issues involved in excessive alcohol consumption.
Exploring employee engagement from the employee perspective: implications for HRD
Authors: Brad Shuck M. , Rocco Tonette S. , Albornoz Carlos A. 
Published: May 2011

PurposeThe purpose of this paper is to examine an employee's unique experience of being engaged in their work.Design/methodology/approachFollowing Yin's case study design method, researchers collected documents, conducted semi‐structured interviews and recorded observations at a large multinational service corporation ranked as one of the best places to work. Post data collection, content analysis is used to interpret engagement efforts and experiences. Work by Kahn and Maslow are integrated as conceptual frameworks.FindingsPost analysis, three themes emerged: relationship development and attachment to co‐workers, workplace climate and opportunities for learning. Findings highlighted the development of relationships in the workplace, the importance of an employee's direct manager and their role in shaping organizational culture and the critical role of learning in an engaged employee's interpretation of their work. Scaffolding and discussion of an emergent model is provided.Research limitations/implicationsThree propositions for human resource development (HRD) research and practice are presented: first, environment and person interact to create engagement or disengagement; second, an employee's manager plays a critical role in developing engagement; and third, personality can effect engagement, however, everyone can engage. An integrated model is proposed as a synthesis of findings providing HRD researchers and practitioner's opportunity to re‐examine current engagement efforts. Specific action steps are outlined to spur further theory building and organizational practice.Originality/valueThe objective of the emergent model is to provide researchers and practitioners a new framework to consider, grounded in both early and contemporary theories of engagement. The emergent model could serve as the basis for new strategies and structures related to engagement development and could shed new light on how employees interpret the experience of engagement in work. This research is the first known qualitative study of employee engagement in the HRD literature, second only to the original qualitative research by Kahn.
The importance of being an insider
Authors: Bishop Dan 
Published: May 2011

PurposeThe purpose of this paper is to examine the ways in which the small firm's external relationships influence its approach to formal training and training providers.Design/methodology/approachA qualitative approach was adopted, involving semi‐structured interviews with senior managers, in 25 small firms in South Wales. These interviews were informed by prior workplace observation and analysis of organisational documentation. Further interviews were conducted with employees in nine of the firms.FindingsThe findings indicate that the small firm's informal relationships with trusted, familiar and credible contacts – referred to as insiders, following Gibb – are central to the way in which it perceives both training and training providers. Government agencies, training providers and other traditional stakeholders generally sit outside these informal insider networks, and tend to be viewed as culturally remote by the small firm.Research limitations/implicationsThe findings emphasise the need for training providers and government agencies to obtain the support and co‐operation of insider networks if they wish to promote training within the small business sector. The main limitations include the relatively narrow geographical focus and the absence of retail firms from the sample.Originality/valueWhile the importance of informal networks within the small business community is now well established, the constitution of such networks and their effects on attitudes towards training providers are less well understood. The paper helps to address these gaps by starting the process of mapping insider networks and illuminating their impact on small firms' perceptions of training providers.