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This study examines whether the absolute number heuristic holds for consumers' responses to higher-priced versus lower-priced products. Further, it explores whether the different construal level as induced from presence or absence of a product image can be a boundary condition for the absolute number heuristic.

Four experiments were conducted. In Experiments 1 and 2, participants were presented with a discount either in the amount off or percent off format, for products whose prices were 99 Yuan, 100 Yuan and 101 Yuan, respectively. In Experiment 3, the prices were changed to be 90 Yuan, 900 Yuan and 9,000 Yuan, respectively. In Experiment 4, the prices were 48 Yuan and 480 Yuan, respectively.

Experiment 1 showed neither main effect of discount frame nor interaction between price level and discount frame for all dependent variables (i.e. willingness to pay or WTP, purchase intention, attitude and perceived value), thus posing a challenge to the absolute number heuristic. Notably, the lack of main effect and interaction for purchase intention, attitude and perceived value were replicated in Experiments 2, 3 and 4. With WTP being the dependent variable, however, Experiment 4 showed that the effect of discount frame was dependent on price level.

The current findings pose a challenge to the absolute number heuristic and contribute to the literature by revealing that the joint effects of price level and discount frame can be moderated by whether an ad contains the product image.

It is necessary for marketers to realize that inclusion of a product image may eliminate the effect of discount frame. Specifically, in terms of promoting a relatively expensive product, in order for the percent off discount to enhance the amount of money that consumers are willing to pay, an ad without a product image may be more favorable.

The current study is the first to challenge the absolute number heuristic by showing that the interaction between price level and discount frame is contingent on whether an ad contains the product image.

The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act (which has been amended by the Sex Discrimination Act 1975) provides:

According to construal level theory, close (versus far) psychological distance is associated with low (versus high) construal level. Despite the evidence for discount frame effect, it is unclear whether psychological distance and product nature play moderating roles. In addition, little has been known whether the effect of discount frame can extend to other dependent variables such as willingness to pay (WTP). Driven by construal level theory, five experiments were conducted to explore whether the effect of discount frame is dependent on psychological distance and product nature (i.e. utilitarian versus hedonic product).

The experimental method was used, with discount frame, psychological distance and product type as the independent variables and purchase intention, attitude towards the advertisement, perceived value and WTP as the dependent variables. Participants were presented with promotion scenarios in which psychological distance and discount format were manipulated. In order to test the generalizability of results, promotional scenarios for both utilitarian (i.e. backpack bag and shampoo) and hedonic products (i.e. scenery ticket and perfume) were presented. Data were collected via the online experiment platform (i.e. www.Credamo.com).

The authors found an interaction between discount frame and spatial distance in that consumers had more positive attitude toward percent off than amount off under near-spatial distance. However, no interaction was observed between discount frame and temporal, social or hypothetical distance.

Taken together, the current study for the first time reveals that the effect of discount frame is contingent on a specific dimension of psychological distance (i.e. spatial distance), regardless of whether the product is utilitarian or hedonic. Findings from this study for the first time pose a challenge to the notion that construal-level match necessarily leads to more favorable consumer responses, suggesting that there may be a unique mechanism underlying the joint effects of spatial distance and discount frame. The current findings can provide important implications for marketers and retailers in an effort to design effective promotional messages.

This paper aims to examine how incentive framing format and language congruency interactively influence readers’ post-reading responses to hotel-related email advertisements.

A 2 (incentive framing format: amount-off versus percentage-off) × 2 (language congruency: use of readers’ native language versus use of readers’ foreign language) between-subject experiment was conducted with 233 bilingual speakers from China.

The findings unveil that readers are more likely to be enticed to search for more information about the promoted hotel restaurant, click the call-to-action button and share the promotional message with friends and families if an email advertisement presents the incentive of a price promotion in the form of amount-off (versus percentage-off). The indirect impact of language congruency is also verified. Specifically, the impact of incentive framing format on readers’ post-reading response is more salient when information is communicated using readers’ native (versus non-native) language.

The findings provide actionable clues for hoteliers to optimize their email marketing campaigns. If hotels want to publicize a price promotion for their high-priced service (e.g. hotel restaurant dining) via email advertisements, marketers should present the incentive in the form of amount-off. Hotels should also personalize the language used in the email advertisements according to readers’ native language.

This study enriches the literature on email marketing by explicating how hoteliers can improve the efficacy of email marketing via personalizing the incentive framing format and language used in the email advertisement according to the readers’ preferences.

Modern employment legislation invests the employee with important rights resulting in a greater degree of job security and improved legal protection in his employment. These rights or entitlements which are all personal in nature are divisible, for the sake of convenience, into four parts. Firstly, individual rights. These include guarantee payments, medical suspension, maternity, time off for specified activities, and the employer's insolvency. These rights are by no means exhaustive. Other rights of an individual nature as for example the right not to belong to a trade union where a closed shop is in operation; rights in connection with trade union membership; written reasons for dismissal; and so on, will be treated in the context of the discussion which will take place under the appropriate heading. Secondly, it is proposed to examine the employees right not to be discriminated against in employment on grounds of race and sex, thirdly, his right not to be unfairly dismissed will be analysed, to be followed finally by his right to redundancy payments. In this monograph, it is proposed to examine the first of these personal rights, namely the employee's individual rights. Each of the others will be discussed in subsequent monographs. It should be noted that unlike the common law terms implied into the contract of employment which consist of duties imposed on both the employer and the employee and which can be contracted out of by an express term in the contact of employment the statutory conditions of employment cannot be dispensed with in that manner. Like the implied terms at common law, the statutory conditions of employment too form another source of contract of employment though of course they are independent in that they neither form part of the contract of employment nor of the common law rights.

The original legislation which introduced the redundancy payments scheme was the Redundancy Payments Act 1965. This was the first of the substantive statutory individual employment rights given to an employee; other individual employment rights, as for example, the right not to be unfairly dismissed, followed some years later. The Redundancy Payments Act 1965 has been repealed and the provisions on redundancy are now to be found in the Employment Protection (Consolidation) Act 1978.

This chapter uses a dynamic structural model of household choices on savings, consumption, fertility, and education spending to perform policy experiments examining the impact of tax-free education savings accounts on parental contributions toward education and the resulting increase in the education attainment of children. The model is estimated via maximum simulated likelihood using data from the National Longitudinal Survey of Young Women. Unlike many similarly estimated dynamic choice models, the estimation procedure incorporates a continuous variable probability distribution function. The results indicate that the accounts increase the amount of parental support, the percent contributing and education attainment. The policy impact compares favorably to the impact of other policies such as universal grants and general tax credits, for which the model gives results in line with those from other investigations.

The Companies Act 1981 introduced some significant changes which dramatically affect the accounts of companies in terms of format, contents and accounting rules. This guide attempts to cover the main provisions of the Act in a clear and concise manner.

February 5, 1969 Damages — Personal injuries — Assessment — Pension — Compulsory contribution — Police pension fund — Policeman disabled in accident — Assessment of lost earnings and pension rights — Whether pension deductible.

The paper's aim is to research and discuss the issue of the lack of transparency in financial reporting and how companies take advantage of accounting rules in ways that inhibit transparency.

A literature review was carried out to see what had been written and discussed. Various legal cases were studied as well as Securities and Exchange Commission (SEC) and Financial Accounting Standards Board (FASB) studies of the impact of off‐balance‐sheet arrangements allowed by the FASB and SEC.

There are many ways that companies accomplish off‐balance‐sheet financing by taking advantage of rules‐based accounting. If there is not a rule to prevent an entity from handling a particular transaction a certain way, then it is difficult for the auditor to stop it from happening.

The paper is of descriptive nature. There are many policy implications from the results of the paper for all regulatory agencies. The economic substance of transactions needs to be communicated.

Financial managers and financial consultants need to refocus the structuring of financial transactions so that they comply with generally accepted accounting principles and that the economic substance of financial transactions is communicated. More accountability and ethical awareness needs to be instilled in the individuals who deceitfully structure financial transactions. Regulatory bodies need to ensure more transparency by closing loopholes and better enforcement of accounting standards. Boards of directors, especially the audit committees, need to be sure that a company is communicating the true economic reality of the financial transactions and financial position of the business entity. Off‐balance‐sheet financing is one of the most significant ways, among others, that the user of financial statements can be misled. It is time for regulatory bodies to eliminate overly rules‐based standards, clearly state the economic objective of each standard, and require firms to disclose the economic motivations for the accounting practices they adopt.

The value of the paper is that it studies the problems of the lack of transparency in financial reporting. It then suggests that if what is currently being done, (i.e. rules‐based accounting), is not working, then a new approach, principles‐based accounting needs to be implemented by the regulatory agencies. This paper provides an overview of the lack of financial statement transparency.