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The purpose of this paper is to define and characterise the precise nature of these cultural systems and their resulting impact on the respective art and artists of each territory, by ascertaining the impact on those systems of their respective government and governance.

This paper is based on three approaches to art market modelling. All three are based on political ideologies. The first, which typifies the art markets of Western Europe and the USA, is predicated on a Pluralist and Neo-Liberal ideology. The others correspond to the systems of government in China, Taiwan, South Korea and Japan.

It has been shown in this paper that political systems and their accompanying ideology, born of cultural preferences, have impacted on the art markets of China, Taiwan, South Korea and Japan. It has been demonstrated that all four markets are employing variants of the international norm.

The art that is exported from East Asia will only be accepted by East Asian national markets when East Asian art markets exercise a majority influence on emerging and transitional markets. It is not the intention of this paper to pursue this thought beyond the possibility that it may occur.

The ineluctable conclusion is, therefore, that the global art market is moving towards a bipolar affair.

This paper also suggests the disengagement of East Asian and Chinese “culture” and art from a global (western) norm and production and consumption of national culture in East Asia by East Asians.

The paper looks (for the first time) at the direct (and subliminal) influence of political systems on art markets and the consequential effects of political ideology on the art markets of East Asia and China. The paper arrives at a series of precise definitions for the way that these art markets operate.

Examines some recent developments of the status of model building in marketing in the UK. Uses many examples from both the UK and the USA to emphasise developments, with Crawford, Koller and Little, with figures uses for extra emphasis. Investigates problems of modelling marketing processes and also recent development in marketing model building. Closes by discussing the present state of the art that involves literature and differences between the UK and USA in marketing and model building.

The purpose of this paper is to extend the understanding about the augmented destination marketing process that has resulted from the introduction of electronic marketing methods. It attempts to identify the factors that contribute to the process of destination marketing by introducing an integrated marketing model. This study aims to expand the domain of knowledge about the tourist buying behavior by putting forward a framework to manage the destination marketing process for Cyprus.

The research design adopted for this study is an exploratory one, deploying the open‐ended approach of grounded theory. A number of expert interviews are performed with senior marketing executives at the Cyprus Tourism Organization (CTO), while an extensive study of the existing procedures that are being followed in carrying out the CTO's marketing department's functions facilitated further information analysis. The actual users' expectations are derived from a web‐user behavior analysis, reflecting upon relevant marketing theories and information systems approaches.

The paper provides insights into the augmented process of destination marketing planning and suggests specific ways through which National Tourism Organizations can manage it efficiently. The contribution of this study towards building on the body of knowledge is significant as the process of destination marketing planning is characterized by complexity due to the diverse interests of the stakeholders involved.

This paper successfully introduces the concept of integrated marketing as the sole enabler for the CTO to maximize the effectiveness of its marketing efforts worldwide.

Established models of buyer‐seller relationships do not reflect managerial emphasis on supplier performance evaluation when modelling business relationships. Proposes that relationship value should be included as a key constituent in such models. Aims to explore the construct's links with key constituents of relationship quality, i.e. commitment, satisfaction, and trust.

A two‐stage research design was used. First, depth‐interviews were conducted with ten senior‐level purchasing managers in US manufacturing companies. Second, data were gathered in a nation‐wide mail survey among 400 purchasing professionals.

The findings suggest that relationship value is an antecedent to relationship quality and behavioural outcomes in the nomological network of relationship marketing. Value displays a stronger impact on satisfaction than on commitment and trust. Value also directly impacts a customer's intention to expand business with a supplier. In turn, its impact on the propensity to leave a relationship is mediated by relationship quality. Contrary to previous research, trust does not appear in this study as an antecedent of behavioural outcomes, but as a mediator of the satisfaction‐commitment link.

Confirms the role of value as a key relationship building‐block. Researchers should integrate this cognitive performance‐based construct in models of business relationships. Limitations and research directions refer to the sampling procedure, the need to include the supplier's value perceptions, the possibility of conducting longitudinal research, and the opportunity to assess additional moderating variables.

When the goal is to increase business with an existing customer, managers should focus on relationship value. In turn, when managers are concerned with the risk of customers leaving a relationship, they should focus on relationship quality. Trust appears as an important ingredient in stabilising existing business relationships.

Stresses the pivotal role of relationship value in marketing. Contributes to a better fit between relationship marketing models and managerial practice in business markets.

The devastating acute COVID-19 epidemic crippled the global economy in 2020. Within a month of the COVID-19 epidemic, every industry saw its stock prices plummet the most. Ending the COVID-19 pandemic will need equitable access to safe and effective vaccinations. This study aims to look at the link between COVID-19 vaccination and the stock markets for health and pharmaceutical sector.

The researchers used a mean-adjusted return model and event research approach to figure out how the first dose of the COVID-19 vaccine affects health and pharmaceutical sector stock market returns.

The evidence-based outcome indicates that immunisation announcement affects health and pharmaceutical company returns. Furthermore, the study concludes that the health and pharmaceutical industry is inefficient for a short period of time, but after 41 days, the sector absorbs the noisy information.

Since the outbreak, the development of COVID-19 vaccines has been a key focus of shareholders and investors. This study is unique in that it investigates the effect of the first dosage of SARS-CoV-2 vaccination on equity returns in the health and pharmaceutical industries, and it is likely to make a substantial contribution to the capital market literature on event methodology.

Austrians are essentialists, one of their questions being what makes a thing good? Menger and Böhm‐Bawerk gave different answers to this question. Böhm‐Bawerk directed attention explicitly to the condition of knowing how to utilise a thing. Both Menger and Böhm‐Bawerk played down their difference. The goods characteristic added by Böhm‐Bawerk to the four characteristics formulated earlier by Menger is stressed to be of value to a better understanding of modern Austrianism. A paradox that arises (the consumer is sovereign in theory but not in practice) is solved.

The application of capital charges to core government agencies (those which produce tax-financed outputs) is one of a number of steps being taken by certain governments as part of a broader strategy to place such agencies upon a market footing. Capital charging involves the levying upon these agencies of charges designed to reflect the cost of the capital which they employ. This article presents a theoretical evaluation of capital charging which identifies the manner in which imperfect information, uncertainty and the expenditure control imperative undermine the system’s raison d’être.

The purpose of this paper is to verify the mediating role of commitment between market-oriented organizational culture and international market performance, and to discuss the moderator effect of national institutional environment on this mediating role.

The research design follows a mixed methodology, combining qualitative and quantitative data collection and analysis. In the first phase, research hypotheses are proposed based on a literature analysis. In the second phase, sample data are collected through interviews and questionnaires sent to domestic contractors in China and South Korea, and a validity analysis of the results is carried out. Correlation and regression analyses are then performed on the valid data to verify hypotheses to prove the existence and influence of mediating effects. Hayes PROCESS Macro is used on the regression results to test the mediating effect of commitment on international project performance and the moderation effect of institutional environment.

The results reveal that the commitment between partners has a mediating effect on the relationship between market culture and international project performance; however, no hierarchy culture is revealed. The mediating effect of commitment is regulated by the institutional environment.

Although the reliability and validity of the questionnaire data in this study are in line with research standards, a larger sample size would improve the reliability of the results. Further, the interviewed samples are mainly from China and South Korea; large representative samples from additional countries, such as Japan, should be considered to gain a fuller understanding and more comprehensive results.

By emphasizing the differences between the two institutional environments of developing and developed countries in East Asia, a theoretical and empirical basis is provided. International construction enterprises in other countries can apply the findings to improve their international market performance in different institutional environments. The findings also provide an empirical reference that international construction enterprises in China and South Korea may use to adjust their organizational cultures and commitments to improve market performance.

This study seeks to examine the effects of three communication avenues, namely controlled communication (e.g. advertising/promotions), uncontrolled communications (word‐of‐mouth (WOM)/publicity), and brand name, on consumer service brand evaluation.

This study employed a quantitative methodology and data were gathered from consumers intercepted in a shopping mall via a self‐completed survey.

The results show that controlled communications and brand name have a significant effect on customer satisfaction, brand attitudes and brand reuse intentions. WOM was shown to have a significant influence only on brand reuse intentions. In addition, comparisons made across different retail service types (e.g. stores and banks) showed differences in relationships between the examined variables.

The brand stimuli used in the survey instrument limit the findings to retail stores and banks and, thus, may not be applicable in all service situations. On this basis, it is recommended that future research should further explore the key constructs of this study in other service settings.

The findings suggest that controlled communications and brand name are pivotal in establishing consumer expectations, thus influencing satisfaction and brand attitudes. Therefore, these types of advertising should be utilised to communicate realistic service experiences, while brand names should reinforce consumer confidence, trust and safety in usage. Positive WOM advocating proven reliability and consistency of the brand should be encouraged and rewarded to encourage new usage and reusage behaviour.

The value of this paper lies in the comparison of different brand communications with different consumer responses to the brand not previously examined. The results therefore suggest ways in which marketers can maximise the benefits of their communications.

The purpose of this study is to analyze comparatively the properties of open-loop and closed-loop equilibria in a dynamic oligopoly model with price dynamics and reflexive behavior of market agents.

To consider dynamic competitive markets, the authors focus on a differential game theory in oligopolistic structures, using analytical models to illustrate how advertising effort, good differentiation and price stickiness interact simultaneously in the open-loop and the closed-loop Nash equilibria. The comparative assessment of these equilibria obtains some significant results.

An optimization model that enriches the continuous time is presented. Under the open-loop and the closed-loop, Nash equilibrium showed an increase in the total output, advertising in price stickiness and promotional efficiency, while there was a decrease in product differentiation and advertising promotional efficiency. However, the open-loop equilibrium levels are larger than the closed-loop equilibrium. Under the closed-loop information, the long-run equilibrium was faster than the opened-loop in a dynamic oligopoly. The graphical illustration was used to present the behavior of the model parameters.

This study helps managers to choose an appropriate price and advertising adjustment to maximize profit. The obtained results may help firms to make the smart decision and may provide managers the valuable tool for making decisions in the competitive market environments.

This is a first attempt to analyze a dynamic oligopoly in the differentiated market environment. It considers a joint action of the output and advertising in shaping the closed-loop and the open-loop equilibria with N competitors in a dynamic competitive setting.