Customer uncertainty of future contacts with the service provider creates a wide range of expectations of the relationship. Such variation and effective management of…
Customer uncertainty of future contacts with the service provider creates a wide range of expectations of the relationship. Such variation and effective management of customer expectations have been not been well studied. The purpose of this research is to investigate the role of customers' expected future use in relationship based customer retention for continuously provided services, proposing and testing an empirical model that explores the interconnectedness of relationship quality, expected future use and customer retention.
A theoretical framework is developed to suggest the role of expected future use in relationship‐based retention. Extant research from various academic fields, including marketing and psychology, is reviewed, deriving our hypotheses. Data collected from customers of a health club is examined through structural equation modeling (SEM).
The study supports the assertion that that the effect of relationship quality (trust, commitment, and satisfaction) on service retention is mediated by customers' expected future use. Results show that relationship quality (satisfaction, trust and commitment) is related to expected future use and retention, while expected future is also related to retention.
This study represents an early attempt at exploring the role of customer's anticipation of future use in service retention. Future research is discussed, with an emphasis on developing additional indicators of relationship quality and future expectation related variables.
Service firms can increase retention through enhancing relationship quality and expected future use. Customers' expected future use plays an important role in service retention, and represents a valuable marketing opportunity in customer relationship management. Marketing managers will find it beneficial to integrate expected future use into marketing communication, retention‐based marketing, and other marketing interactions.
This research represents one of the first studies in service retention literature by empirically examining the role of expected future use in relationship‐based retention. Existing theories of relationship quality may also be improved with such an inclusion of customer psychological mechanism. The model provides insights into the effects of customer's expectations of future usage on customer intentions beyond traditional relationship marketing models.
This paper aims to investigate the relationship between output and unanticipated inflation when wages are indexed for the loss of purchasing power. The authors argue that…
This paper aims to investigate the relationship between output and unanticipated inflation when wages are indexed for the loss of purchasing power. The authors argue that the monetary authority remains useful when firms that face rigid demand index wages to compensate for the loss of purchasing power, unlike Fischer (1977), who suggested that monetary policy loses effectiveness when firms index wages.
This paper develops a simple theoretical model followed by an empirical investigation of the relationship between output and unanticipated inflation in the presence of indexation. The theoretical model assumes a perfectly competitive firm that produces a final good that has no close substitutes using one factor, labor. The demand for the product is rigid. The empirical work considers quarterly US data from 1982Q1 to 2017Q1 and uses the Generalized Method of Moments in which endogenous variables are instrumented using their own lags. This paper further considers the period before and after the recent global financial crisis.
This paper shows that unexpected inflation decreases the growth rate of output in the USA. The decrease is quantitatively and qualitatively stronger before the financial crisis than after the crisis. This finding suggests that the Federal Reserve should maintain higher expectations of inflation and then surprise the public with lower inflation rates. The results further suggest that regardless of how expectations are formed, firms and workers agree on the nominal wage that is equal to the realized marginal revenue product of labor.
This paper sheds light on the behavior of the central bank and its relative ineffectiveness in light of the recent economic recession.
The Burrell and Cane mixed Poisson model for library loans is used to predict future use of items in a collection. The model is also used to investigate possible…
The Burrell and Cane mixed Poisson model for library loans is used to predict future use of items in a collection. The model is also used to investigate possible relegation procedures based on frequency‐of‐circulation data.
The Hanford site, in Washington State, presents a large-scale test for long-term stewardship of residual radioactive and chemical contamination. Large quantities of waste…
The Hanford site, in Washington State, presents a large-scale test for long-term stewardship of residual radioactive and chemical contamination. Large quantities of waste and contaminated materials will remain in perpetuity near the land's surface and the Columbia River, making Hanford perhaps the most complex long-term stewardship challenge among former weapons production sites. This paper explores the scope of contamination, the Department of Energy's approach to cleanup, the likely residuals requiring long-term stewardship, and the issues that are thus raised. Expectations with respect to long-term land uses, the likely durability of institutional controls, and funding, information management, and accountability have long been influenced by mistrust and tension between local communities, regulators, tribes, and the Department of Energy (DOE). Despite positive steps by DOE such as the creation of the Office of Legacy Management, DOE's dependence upon annual appropriations, its sovereign immunity with respect to key state and local land use regulations, and recent policy pronouncements that cast doubt on the willingness to respond to unanticipated problems with additional cleanup, all leave doubt in the minds of regulators and communities that DOE can be counted upon to be both proactive and accessible once cleanup is complete.
Is there an electronic banking (e‐banking) revolution in the USA? Millions of Americans are currently using a variety of e‐banking technologies and millions more are…
Is there an electronic banking (e‐banking) revolution in the USA? Millions of Americans are currently using a variety of e‐banking technologies and millions more are expected to come “online.” However, millions of others have not or will not. This paper explores factors that affect the of adoption or intention to adopt three e‐banking technologies and changes in these factors over time. Using a Federal Reserve Board commissioned data set, the paper finds that relative advantage, complexity/simplicity, compatibility, observability, risk tolerance, and product involvement are associated with adoption. Income, assets, education, gender and marital status, and age also affect adoption. Adoption changed over time, but the impacts of other factors on adoption have not changed. Implications for both the banking industry and public policy are discussed.
In the study of entrepreneurial behavior types, “ambitious entrepreneurship” recently emerged as a new research concept. Unfortunately, a systematic overview of what is…
In the study of entrepreneurial behavior types, “ambitious entrepreneurship” recently emerged as a new research concept. Unfortunately, a systematic overview of what is known (and not known) about this topic is missing. In particular, insights into the various definitions, measures, and antecedents of ambitious entrepreneurship are lacking. In this chapter, we offer a state-of-the-art review and analysis of extant research on ambitious entrepreneurship. We structure the literature review by providing insights into antecedents of ambitious entrepreneurship, and extensively discuss the conceptualization and operationalization of this research concept. We clarify the differences between related concepts such as growth intention, expectation, and aspiration, and argue how all these concepts fit into a unifying framework of ambitious entrepreneurship. We summarize promising future research avenues for the study of ambitious entrepreneurship, both from a methodological and a conceptual point of view.
This case was developed to serve as a foundation for student discussion of the use of contingent forms of payment in M&A. The protagonist in the case represents the buyer…
This case was developed to serve as a foundation for student discussion of the use of contingent forms of payment in M&A. The protagonist in the case represents the buyer, and must design terms of contingent payment (“arnout”) that will protect the buyer if the rosy future does not occur, yet reward the seller if it does. Students are given completed discounted cash flow (DCF) valuations of the target (Digitech) under both the seller's and buyer's forecasts, which reveal a wide gulf in valuation. The protagonist seeks to bridge this gulf through a combination of fixed and contingent payments to the seller. Two different earnout designs are suggested in the case. Students must simulate the value of the earnout to estimate the expected value of this provision from the standpoints of both the buyer and seller.
This chapter is devoted to fiscal policy theory and to how its evolution influenced the policy principles implemented from the end of the World War II to the present. It shows how the theoretical foundations evolved, from the Keynesian theory according to which public expenditure was conceived as an instrument to sustain aggregate demand and achieve full employment, to the present theoretical framework in which, following the intertemporal approach, it has been downgraded to an external shock. The public debt issue is examined with the aim of explaining why sound public finance represents a primary policy objective in the Eurozone.
A review of the literature found that little research has been conducted on the use of videotape in the teaching of management courses in university schools of business…
A review of the literature found that little research has been conducted on the use of videotape in the teaching of management courses in university schools of business. Utilizing an adaptation of Gioia and Brass’s (1985‐86) “repertoire of observational techniques,” survey responses were obtained from a nationwide sample of 262 management faculty. Age was found to be the sole differentiating factor in current as well as expected future use vs. non‐use of videotape. Current practices in a wide variety of aspects of video usage are also examined. Implications of the results, including the impact of barriers to the use ofvideotape in the classroom are discussed.
Finance for longer‐term investment continues to be identified as aproblem in the small and medium‐sized enterprise market. Recently thefinance gap has been attributed to…
Finance for longer‐term investment continues to be identified as a problem in the small and medium‐sized enterprise market. Recently the finance gap has been attributed to the use of capital gearing as a lending assessment technique. Income gearing, which would take account of the borrower′s expected future income flows may help to close the finance gap. Using a postal questionnaire and in‐depth interviews, information was gathered from companies about their forecasting procedures. The findings show that many companies have the necessary infrastructure to forecast income flows. However practice and culture need to change if lending based on income gearing is to become a reality. Company forecasts lack depth, and the time horizon chosen is too short especially in relation to capital expenditure budgets. In the small and medium sector the relationship between budgets and strategic planning is not yet understood.