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In the current study, the significance of extreme positive returns has been investigated in the pricing of stocks in the Indian equity market. This study aims to understand if investors in India have a preference for lottery-like stocks. The existing literature provides support for MAX effect in several countries, where risk seeking in the form of gambling is an acceptable form of social behavior, suggesting a preference for lottery-like stocks. This motivates the authors to investigate whether such preference for lottery-like stocks is prevalent in a country such as India with a different cultural setting, where gambling is not socially and legally encouraged.

The MAX effect is tested in the Indian market for the period from January 2003 to March 2017. The average number of firms per month in this study is 2,949. Univariate and bivariate portfolio-level analyses, as well as Fama MacBeth regressions, are conducted to observe the difference between average raw and risk-adjusted returns between the stocks lying in the highest and lowest MAX deciles. Several tests have been performed for checking the robustness of the findings.

Unlike the extant literature, the authors have not found any evidence of a negative relationship between extreme positive returns and expected returns. The univariate and bivariate analyses suggest that high MAX deciles over-perform low MAX deciles. Fama Macbeth regressions also do not support the negative relationship documented for other markets. This suggests that investors are not euphoric about lottery-like stocks in India. One may devise profitable trading strategies by going long on high MAX deciles and short on low MAX deciles.

This study finds a behavioral aspect of Indian investors, which seems to be in contrast to that of other countries. While there is a strong preference for lottery-like stocks in other markets, investors in India do not end up overpaying for such stocks in the market. This tendency might be an outcome of a different social and regulatory setting in India. In view of the fact that India is increasingly becoming an important investment destination, it becomes important to devise investment strategies based on the peculiarities of this market rather than simply extrapolating the findings of other markets.

To investigate the relationship between key users (defined as their influence) in “information”, “purchase”, “communication” or “entertainment” networks, and the number of elicited requirements in web‐based information systems (WIS).

A lab experiment was designed and conducted to investigate the relationship between college students' elicited requirements for two WIS cases and their social networks.

The individual centrality in “information” networks has a significant positive relationship with the numbers of elicited “information” requirements and total requirements; however, the individual centrality in other social networks has no significant relationship with the number of the elicited requirements.

The requirements collected from “key users” may account for most requirements, which is similar to the results predicted by Pareto's rule.

The origin of a WIS depends on a few influential users. These key users possess more power than others, and they define not only the “requirements” of the site but also its content or knowledge. The WIS designers may take advantage of this fact.

This paper fills the information requirement elicitation gap, while transferring the conventional IS development experiences to WIS.

The purpose of this paper is to examine the dimensions of interpersonal trust which would affect the buyer-salesperson relationship in a direct selling situation. It also investigates consumers’ perceived risk and advantages of direct selling.

A questionnaire survey of consumers (and also non-consumers) of direct selling companies in Hong Kong was performed by means of mall-intercept interview. The major measurements were perceived risk, perceived advantages, trust dimensions, and repurchase intention.

The results show that there are six dimensions of interpersonal trust in the buyer-seller relationship in direct selling, but only one dimension (i.e. honesty) has a significant relationship with repurchase intention. The ability to shop at home is found to have the highest advantage rating of direct selling. In addition, direct selling is perceived to have a lower level of risk than unsolicited telephone call such as telemarketing.

This is the first study to investigate the effects of different dimensions of interpersonal trust on consumer buying behavior under a direct selling situation in Asia. The study also serves as a foundation for studying the applicability and usefulness of all trust measures in other western or non-western cultures/nations.

The purpose of this paper is to investigate the relationship between the repurchase intention of a customer and his/her perception of various aspects of an e-tailer’s product return process, such as leniency, fairness and quality of the return process.

This research focuses on these aspects through the expectation disconfirmation theoretical lens, looking at the relationship between expectations shaped by the product return policy and the repurchase intention. This research collects data using a survey approach and analyzes it using structural equation modeling.

It was found that perceived return policy leniency, perceived fairness of the return experience and perceived quality of the return experience are important and supporting factors that influence a customer’s intention to be a return customer to e-tailers. Perceived leniency was found to not only be the most influential factor for return purchase intention but it also significantly impacted the perceived fairness and the quality of the return process. As a result, perceived leniency of the return policy had a “halo” effect on the other factors.

This suggests that the majority of an e-tailer’s effort should be expended determining a return policy and experience that is widely perceived as lenient as this will overall improve customer perception of the return process and increase repurchase intention.

This research extends research on lenient policy within the growing e-tailer sector by examining the return experience of the customer and subsequent repurchase intention based on multiple factors.

Service quality is argued to be a crucial success factor for application service providers (ASPs), but yet an empirically validated instrument for measuring the service quality of ASP vendors needs to be developed. This paper aimed to fill in this gap. After synthesising previous literature on the service quality construct within the context of IS, e‐commerce, ICT outsourcing and ASP effectiveness, the paper proposes a set of dimensions and model for measuring ASP service quality. The model is tested by surveying and analysing data from Greek companies using ASP for developing and maintaining their Web stores. Directions for future research, as well as suggestions for improving the practices of ASP suppliers and users’ are also provided.

While supply chain scholars concur on the need to integrate supply chain finance (SCF) processes to meet ever-changing customer demands, it is unclear how SCF influences business performance in the presence of perceived opportunistic behavior. Therefore, the study aims to investigate the moderating role of perceived partner opportunism in the supply chain.

Drawing on the dynamic capability theory (DCT), this study investigates how perceived supply chain partner opportunism moderates the mediating role of supply- and demand-oriented performances on the link between SCF and business performance, from the retail industry perspective. Data was collected from Australian retailing firms. In all, 293 completed surveys were received. Moderated mediation analysis was conducted.

The results of this study indicate that supply- and demand-oriented performances serially mediate the relationship between SCF and business performance. The study also found that the effect of SCF on performance was higher when perceived partner opportunism was lower.

To respond to changes in consumer preferences and demand effectively, supply chain and marketing managers need to understand the complex interaction between supply- and demand-oriented performances and the key role of SCF in developing such capabilities.

The current study theorizes and demonstrates the effects of supply- and demand-oriented performances that can facilitate the effects of SCF on business performance. Also, the study reveals the effect of each dimension of SCF (accounts payable, accounts receivable and inventory finance) on supply- and demand-oriented performances. Additionally, the study shows the key role of perceived partner opportunism in supply chain management.

This paper aims to review hospitality and tourism research on customer satisfaction (CS), service quality (SQ) and customer value (CV) published in several established hospitality and tourism journals over the past 15-16 years. A parallel review of research on the same topics published in several leading marketing journals is also conducted to show comparisons in research trends across the two different, but closely related, fields of study. By doing so, this paper aims to summarize lessons learned from previous research and provide suggestions for future research on the topics in the hospitality and tourism discipline.

This study reviewed 242 articles appearing in six selected hospitality and tourism journals and 71 articles in four business journals that were published on CS, SQ and CV over the period of 2000-2015. A comprehensive coding scheme was developed to sort each study by more than 50 criteria.

While research on these topics has grown constantly during the period in the hospitality and tourism field, it has declined in the general business discipline over the same period. Hospitality and tourism research relied heavily on cross-sectional data through a survey approach, whereas business studies used experimental designs more frequently. Research on CS has sustained both interest and productivity, but research on SQ and CV has dwindled over time. Another notable finding is that most studies are not grounded in strong theories, although CS studies tended to be more theory-embedded.

This study provides many useful insights into the research practice and trends of related research and suggestions for future research, especially for hospitality and tourism researchers.

This study provides an unprecedented, comprehensive review of theories, methods, discussion points, implications, limitations and conclusions of studies on CS, SQ and CV published in selected hospitality and tourism journals over the past 15 years.

The purpose of this paper is to identify the influences of perceived enjoyment, perceived risks and attitude on the intention to rent fashion products for both Chinese and American consumers. Furthermore, this study is expected to empirically identify the differences between American and Chinese consumers in terms of motivations for and barriers to fashion renting.

Data were collected through online surveys in both the USA and China. Data cleaning generated 412 usable samples in the USA and 301 usable responses in China. A series of t-test analyses and structural equation modeling were conducted to test the proposed hypotheses.

Statistical results confirmed the positive influences of perceived enjoyment and attitude on fashion renting intention. In addition, the negative influences of perceived performance risk and social risk on attitude were also affirmed. Moreover, the results indicated that significant differences exist between American and Chinese consumers in terms of perceived risks and enjoyment of fashion renting, as well as attitude toward renting. Further, group comparison testing results discovered that differences existed in the factors influencing the intention to rent fashion products between American and Chinese consumers.

This study initiates the attempt to investigate the motivations and obstacles for fashion renting intention for both American and Chinese consumers. The cultural comparison between Chinese and American consumers also delivers a comprehensive understanding of the motivations and obstacles behind the intention of fashion renting.

This conceptual study explicates the dynamic, interlinked relationship between two of the most popular theories in marketing today: psychological ownership (PO) and engagement. The study is set in the sharing economy (SE), where platform business success depends on high levels of engagement by users, both individuals and collectives. The study argues individual PO (iPO) acts as the antecedent to engagement within a dyad of brand and user, and collective PO (cPO) as the antecedent to collective engagement by communities of users.

This conceptual study synthesizes PO theory and engagement theory to produce a PO–engagement framework. The authors adopt a dual-level perspective encompassing individual- and group-level phenomena in the SE and employ examples from practice to illustrate their arguments.

PO acts as the antecedent to the positively valenced disposition and engagement activities of actors in the SE. iPO manifests as engagement within a dyad of brand and user. Outcomes include brand love and contributions to brand reputation and service offerings. Collective PO manifests as engagement within a community or collective. Outcomes include community-oriented peer-to-peer (P2P) sharing for the benefit of others.

This study offers a dynamic framework of PO and engagement in the SE, the PO–engagement framework. The authors contribute to PO and engagement literature studies in marketing by illustrating how a platform user's attachment to targets in the SE motivates emergence of PO, and how different types of engagement manifest from different types of PO.