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Scholars have paid considerable attention to the importance of brand loyalty of durable consumer products in developed markets. However, no study has investigated the simultaneous impact of advertising efforts, distribution intensity and store image on global brand loyalty (GBL) of fast-moving consumer goods (FMCG) in emerging markets. This study aims to fill this gap.

This study adopts (1) established theoretical lenses: brand equity, marketing mix and cue utilization theories, (2) a mixed-methods approach: a focus group and two surveys and (3) structural equation modeling on two samples of consumers (one homogeneous and one heterogeneous) of global soft drink brands in Vietnam.

The study reveals significant and nonsignificant relationships among the selected marketing mix elements and brand loyalty and its antecedents of global FMCG. Slight differences in these relationships among the two samples are found. The existing scales are also reconciled with more suitable indicators. The results significantly contribute to the existing knowledge on marketing mix, brand equity and GBL, and global consumer culture.

This is the first study to investigate the simultaneous effects of advertising efforts, distribution intensity, and store image on brand loyalty and its antecedents of global FMCG in an emerging market. The findings will help practitioners develop suitable global branding strategies to manage global brand image and achieve consumer loyalty across emerging markets.

We propose a new model for the dynamics of the aggregate credit portfolio loss. The model is Markovian in two dimensions with the state variables being the total accumulated loss Lt and the stochastic default intensity λt. The dynamics of the default intensity are governed by the equation dλt=κ(ρ(Lt,t)−λt)dt+σλtdWt. The function ρ depends both on time t and accumulated loss Lt, providing sufficient freedom to calibrate the model to a generic distribution of loss. We develop a computationally efficient method for model calibration to the market of synthetic single tranche collateralized debt obligations (CDOs). The method is based on the Markovian projection technique which reduces the full model to a one-step Markov chain having the same marginal distributions of loss. We show that once the intensity function of the effective Markov chain consistent with the loss distribution implied by the tranches is found, the function ρ can be recovered with a very moderate computational effort. Because our model is Markovian and has low dimensionality, it offers a convenient framework for the pricing of dynamic credit instruments, such as options on indices and tranches, by backward induction. We calibrate the model to a set of recent market quotes on CDX index tranches and apply it to the pricing of tranche options.

Rainfall simulators are used on experimental hydrology, in areas such as, e.g., urban drainage and soil erosion, with important timesaving when compared to real scale hydrological monitoring. The purpose of this paper is to contribute to increase the quality of rainfall simulation, namely, for its use with scaled physical models.

Two pressurized rainfall simulators are considered. M1 uses three HH-W 1/4 FullJet nozzles under an operating pressure of 166.76 kPa and was tested over a 4.00 m length by 2.00 m width V-shaped surface. M2 was prepared to produce artificial rainfall over an area of 10.00 m length by 10.00 m width. The spatial distribution of rainfall produced from a single nozzle was characterized in order to theoretically find the best positioning for nozzles to cover the full 100 m² area with the best possible rainfall uniformity.

Experiments with M1 led to an average rainfall intensity of 76.77-82.25 mm h⁻¹ with a 24.88 per cent variation coefficient and a Christiansen Uniformity Coefficient (CUC) of 78.86 per cent. The best result with M2 was an average rainfall intensity of 75.12-76.83 mm h⁻¹ with a 21.23 per cent variation coefficient and a CUC of 83.05 per cent.

This study contributes to increase the quality of artificial rainfall produced by pressurized rainfall simulators.

M2 is the largest rainfall simulator known by the authors worldwide. Its use on rainfall-runoff studies (e.g. urban areas, erosion, pollutant transport) will allow for a better understanding of complex surface hydrology processes.

This paper aims to empirically explore the extent to which actual use intensity of mobile internet (MI) access is influenced by factual use conditions and evaluative perceptions of MI adopters. Furthermore, it analyzes relationships between this usage behavior and mobile voice call as well as SMS activity quantities at the individual customer level.

Indicators of actual MI, voice call and SMS use intensity were obtained for a sample of 443 MI customers of a mobile network operator (MNO) in Germany. The objective behavioral measures were integrated with adopter responses collected through a standardized telephone survey.

Factual MI use conditions (MI tariff type and appliance class, fixed broadband internet home access) were significant predictors of MI use intensity, whereas MI‐related evaluative perceptions (e.g. MI value assessment) were not. Distributions of MI, voice telephony, and SMS use intensities were highly skewed. A small group of users disproportionately contributed to the total MI traffic generated by the sample. Most customers use MI only to a limited extent after the initial adoption. MI use intensity was not significantly correlated with mobile voice communication or SMS activity levels.

The study included data only from early MI subscribers of one MNO in a single country. The system‐captured MI use intensity indicator did not distinguish between different variants of MI services. Measures of factual MI use circumstances were not very fine‐grained. Common potential perceptual antecedents of MI acceptance (e.g. usefulness, ease of use) were excluded due to constraints imposed by the collaborating MNO.

The research indicates that MNO should consider promoting MI use intensity by offering “packages” that encompass a flat rate and a laptop at special bundle prices. Further, MNO are well‐advised to develop activities which discourage customers who do not already have a fixed broadband access at home from the acquisition of such an installation in the future. Finally, managers are urged to critically reflect the validity of single rater studies on MI acceptance before drawing practical conclusions from this type of work.

The contributions of this paper result from the exploration of actual usage behaviors of MI adopters and the integration of system‐captured use intensity measures with survey responses. This approach is seminal in better understanding limitations of purely questionnaire‐based investigations on use of mobile communication services in general and MI in particular. Additionally, the study demonstrates the importance of considering factual MI use circumstances as factors shaping MI use intensity.

This paper seeks to compare some key antecedents of brand loyalty between two emerging markets: Thailand and Vietnam.

Using a sample of 603 female consumers of international shampoo brands, including 304 consumers in Bangkok, Thailand and 299 users in Hanoi, Vietnam, a model was tested that incorporates key determinants of brand loyalty – perceived quality, brand awareness, advertising attitudes, and distribution intensity – by means of structural equation modeling.

The paper found that there are positive relationships between perceived quality and brand loyalty, between brand awareness and perceived quality, between advertising attitudes and brand awareness, and between distribution intensity and brand awareness in both markets. However, the relationship between brand awareness and brand loyalty was found only in the Vietnamese market, and the relationship between advertising attitudes and perceived quality was only found in the Thai market. Finally, no relationship between distribution intensity and perceived quality was found in either market.

A major limitation of this study is the examination of only one concept that stands for strong brands, i.e. brand loyalty. Several other concepts, such as brand relationship quality and brand impressions, should be investigated in future research in order to compare and contrast with those found in advanced economies.

The results of this study suggest that managers of international brands in emerging markets should recognize the differences between markets in order to design effective loyalty programs for each market.

A major contribution of this study is to empirically compare the impacts of perceived quality, brand awareness, advertising attitudes, and store image on brand loyalty in two emerging markets: Thailand and Vietnam.

Electrospinning is a method of the polymer super thin fibres formation by the electrostatic field. The distribution of electrostatic field affects the effectiveness of the electrospinning.

This paper presents various computer models that can improve the electrospinning process. The possibilities of modelling the electrostatic field in the design of electrospinning equipment are presented.

In the research part, the one focussed on finding a cylinder-shaped collector structure to limit the adverse effect of an uneven distribution of the electric field intensity on the collector.

The paper concerns the improvement of the electrospinning process with the use of electrostatic field modelling. In the first part, several possible applications of electrostatic models have been indicated, thanks to which the efficiency of the process has been improved. The original solution of the collector geometry was presented, which according to the authors, in comparison with previous models, gives the most promising results. In this solution, it was possible to obtain an even distribution of the electric field intensity while removing the unfavourable effect of the field strength increase on the outer edges of the collector. The most important aspect in this paper is electric field strength analysis.

This paper aims to investigate the moderating impacts of seasonality on the effectiveness of new product commercialization strategies in short-lifecycle markets. The authors contextualize their theory in the vast and culturally significant entertainment industry sector and contrast the effects between independent films and big budget movies.

This study uses an econometric modeling approach.

This study finds that unlike new films by well-resourced studios, which must launch in a high season for best performance, independents can generate more revenue in low seasons under certain conditions. The study shows how seasonality moderates the effectiveness of new films’ commercialization strategies and how new product outcomes are different for small independent products than for big-budget productions with regards to distribution duration, advertising expenditure and product characteristics.

This research extends the literature on launch timing, which examines various strategic tradeoffs. In contrast with the few extant studies whose concern is sensitizing to the effects of seasonality (Siqueiraet al., 2016), this research treats seasonality as an exploitable opportunity that can be strategically factored into business planning for small producers. Accordingly, this is the first study to theoretically and empirically investigate the moderating relationship between seasonality, marketing decisions, product characteristics and performance.

To achieve useful specificity, the study constructs its discussion around the highly seasonal entertainment industry sector. The study shows that seasonality moderates the effectiveness of new films’ commercialization decisions and that the strategic outcomes are different for small independent products than for major studio productions in particular.

In contrast with extant research whose concern is sensitizing to the effects of seasonality, our research treats seasonality as an exploitable opportunity that can be strategically factored into business planning. Accordingly, ours is the first study to theoretically and empirically investigate the moderating relationship between seasonality, marketing decisions, product characteristics and performance.

Mergers and acquisitions (M&A) are common strategies of firms to increase its performance. Although the motives of M&A are different, the determinants are discreet. The purpose of this paper is to determine the factors affecting M&A activities in the Indian pharmaceutical sector.

Using a balanced panel data of the pharmaceuticals sector in India, this study arrives at the determinants of M&A. The authors use regression techniques such as panel probit models, ordered probit models and matching techniques for a comparable and robust estimates for the factors related to M&A activities at firm level.

The empirical findings suggest that export intensity, import intensity, firm size and R&D intensity as the major determinants of M&A in the Indian pharmaceutical sector. In the context of acquisition, there is a riskiness associated with the any business strategy, for to which a firm may choose to finance the deal either via cash, stock or assets. This study further looks at the firm’s decision on the types of acquisitions and arrives at the determinants of such decisions. The factors such as capital intensity were found more important when acquisition by share was undertaken compared to others. The success of the M&A is observed by considering the financial performance of the firm measured in terms of the profit margin at firm level. Using the propensity score matching technique, this study concludes that M&A have a positive effect on the profit margin in the post-M&A scenario.

The study seeks to add to the existing literature and empirical work done in the field of M&A, by not only looking at determinants that motivate a firm to merge and/or acquire but also if the decision of the firm is reflected positively in the firm’s performance. The study concludes that export intensity is an important factor for the pharmaceutical firms in India since exports are a major proportion of firm’s total sales. Technology transfers as technology imports and R&D conducted by the firm are both very important for the drug manufacturers. Any gap in the flow of drugs to the market would hamper the growth of the firm. The growth of the pharmaceutical industry depends on the close collaboration between small R&D units that lack resources to sell their work and large business houses, both domestic and foreign affiliated that will provide them the required market. However, all comprehensive work has been done in this study to cover all aspects of M&A including the financial pathway taken by the firm yet, the study has certain limitations as it does not take into account the entry and exit of firms from the industry.

Policies related to small and large firms should aim at making them export oriented and multinational affiliated to compete at the international market with corporate restructuring through M&A. This will help in firm’s growth and sharing of knowledge capital.

No such study is conducted that differentiate type of M&A and their determinants for the Indian pharma sector.

Wine tourism is gaining increasing popularity among Chinese tourists, making it necessary to thoroughly examine tourist behavior. While online reviews posted by wine tourists have been extensively studied from the perspectives of destinations and wineries, the perspective of the tourists themselves has been overlooked. To address this gap, this study aims to identify significant attributes intrinsic to the tourism experiences of Chinese wine tourists by adopting a text-mining approach from a tourist-centric perspective.

The authors use topic modeling to extract these attributes, calculate topic intensity to understand tourists’ attention distribution across these attributes and conduct topical sentiment analysis to evaluate tourists’ satisfaction levels with each attribute. The authors perform importance-performance analyses (IPAs) using topic intensity and sentiment scores. Furthermore, the authors conduct semistructured in-depth interviews with Chinese wine tourists to gain insights into the underlying reasons behind the key findings.

The study identifies eleven attributes for domestic wine tourists and seven attributes for outbound wine tourists. From the reviews of both domestic and outbound tourists, three common attributes have been identified: “scenic view”, “wine tasting and purchase” and “wine knowledge”.

According to the results of the IPAs, there is a pressing need for enhancements in the wine tasting and purchasing experience at domestic wine attractions. Additionally, managers of domestic wine attractions should continue to prioritize the positive aspects of the family trip experience and scenic views. On the other hand, for outbound wine attractions, it is crucial for managers to maintain their efforts in providing opportunities for wine knowledge acquisition, ensuring scenic views and upholding the reputation of wine regions.

First, this study breaks new ground by adopting a tourist-centric perspective to extract significant attributes from real wine tourism reviews. Second, the authors conduct a comparative analysis between Chinese wine tourists who travel domestically and those who travel abroad. The third novel aspect of this study is the application of IPA based on textual review data in the context of wine tourism. Fourth, by integrating topic modeling with qualitative interviews, the authors use a mixed-method approach to gain deeper insights into the experiences of Chinese wine tourists.

This paper aims to develop a numerical model to investigate coupled conduction radiation heat transfer in a multilayer semi-transparent polymeric foam.

The model uses a multi-phase approach in which the radiative transfer is determined by solving the radiative transfer equation explicitly in the whole medium incorporating an interface condition valid in the geometric optics rgime. This is executed by using a combination of ray splitting and a discrete curved ray tracing technique. Both partial photon reflection and total internal reflection at the interface are considered in the present investigation.

The directional distribution of intensity within the whole medium can be determined, which is used to obtain the detailed temperature profile inside the domain. The performance of the proposed methodology has been tested by simulating the modelled foam at ambient conditions. The results obtained from the simulations are in good agreement with the published results and shows that there is a global non-linearity in the temperature profile in problems where conduction to radiation parameter is small.

Specular nature of radiative transfer at the interface is accounted for in the present analysis. Instead of working with direction integrated quantities (as in the case of P1 approximation), each bundle of rays is treated separately within the whole medium. This model serves as a starting point for a detailed spatially three dimensional study of heat transfer in foams and the mathematical nature of the formulation is such that it may result in an implementation to three-dimensions.