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This study aims to provide a better understanding of how gift card receivers react to the types of gift cards. This study examined the effect of gift card types (intangible experiences vs less intangible experience vs tangible goods) on a recipient’s willingness to spend more through emotions and perceived effort (Study 1) and on feeling of appreciation (Study 2).

Study 1 adopted a scenario-based 2 (tangible vs intangible) × 3 ($100 vs $200 vs $300) between-subjects design. Study 2 narrowed the scope of gift card type (intangible vs less intangible).

Receivers tended to perceive less effort in gift card selection and feel less emotion when receiving gift cards for intangible experiences than when receiving gift cards for both tangible and less intangible products. However, as face value increased, gift card receivers for intangible experiences felt more pleasure and, in turn, rated higher willingness to spend more money than face value than those with gift cards for tangible products.

Future studies can rule out alternative explanations related to brand-related effects, previous experiences and personal preferences.

Service providers should put more effort into tangibilizing the intangibles to reduce receivers’ uncertainty. Also, they can increase their profitability by stimulating gift card receivers’ willingness to spend more money through pleasure.

Answering research calls for examining consumers’ perceptions of different gift card types, this study might be the first to unveil the differential effect of gift card types associated with the tangibility of products on purchase behavior and the underlying emotional mechanism.

The reported study was designed to provide insight into gift cards as gifts and their place among gifts of cash and goods. It also was designed to identify promising avenues for further research.

Data were collected using a structured questionnaire administered to a convenience sample of 317 respondents of both sexes who varied greatly in age.

Effective liquidity served largely as the basis for categorizing gift cards. The greater a card's effective liquidity, the more its economic impact on the recipient resembles that of cash. The results indicated the following: face value affects recipient preference for effective liquidity; the giver‐getter relationship affects recipient preference for effective liquidity; the gift cards givers give tend to have less effective liquidity than those they prefer to get; some gift cards are more appropriate gifts than others and some, but not all, gift cards are more appropriate gifts than cash; and people feel less guilt when paying for personal luxuries with gift cards than with cash.

The study was largely exploratory insofar as its breadth greatly exceeded its depth and findings derived from a convenience sample.

The study introduced effective liquidity as a basis for assessing similarities and differences between gift cards and gifts of cash and goods. Findings enhance scholarly understanding of gift cards and their place among gifts of cash and goods. Moreover, they afford insights into marketing gift cards and into promising paths for further research.

The Max-Value Stores case provides an opportunity for students to apply the understanding of various financial reporting topics (revenue recognition, liability de-recognition, accounting changes, and deferred taxes) to determine the applicable GAAP for recognizing gift card ‘breakage’, the estimated amount of gift cards that is unlikely to be redeemed. The case requires students to examine several technical and conceptual financial reporting issues in a real-world setting and helps to strengthen students? accounting research capabilities, understand implications of the choice of an accounting policy for performance measurement and financial statement analysis, and develop critical thinking and professional judgment skills.

The term “prepaid card” refers to the pre‐payment of value process, i.e. pay now and extract value later, and describes most of the prepaid/stored value products available today. These cards have largely supplanted paper gift certificates and travelers checks, and are used as alternatives for traditional paper‐based transactions such as payroll payments, cross‐border remittances, and government assistance or welfare benefit programs. However, the same attributes that make open‐system prepaid cards attractive to legitimate customers make them attractive to money launderers. The purpose of this paper is to make the case for subjecting certain prepaid card products (but not all) to Report of International Transportation of Currency or Monetary Instruments (CMIR) requirements.

Addresses how the US law‐enforcement agencies might reconstruct the CMIR enforcement regime to address the unique challenges that prepaid card products present.

The money laundering threat posed by these products is not immediate, but it is not conjectural either. US law‐enforcement agencies (and perhaps ultimately the courts) will be required to address the fourth amendment and privacy issues that may arise when a customs officer “searches” a prepaid card by swiping it and ascertaining the value of the funds associated with that card.

The paper is of value by showing that problem issues can be surmounted, provided the enforcement regime is narrowly targeted to include only those prepaid card products that bear the closest resemblance to currency, and provided the funds associated with those products are maintained in pooled accounts.

The purpose of this paper is to explore the possibility of effectively enforcing the Anti‐money Laundering and Counter Terrorism Financing (AMLCTF) Act compliance on prepaid card small and medium enterprises (SMEs). Currently, certain types of prepaid cards providers are exempt from compliance. This paper looks at this situation bearing in mind the necessity of keeping regulation manageable for SMEs.

The paper adopts the case study approach facilitated by an online search of different prepaid card vendors. Using this as a basis, a feasibility analysis of the AMLCTF Act is conducted for prepaid card SMEs.

It is found that not all regulation compliance requirements are applicable to SMEs. Regulation enforcement without considering the capabilities of the regulated entities will only increase avoidance. It is also found that the AMLCTF Act does not effectively address the issue of prepaid cards' vulnerability to money laundering and terrorism financing (ML/TF) illustrated by exclusion of prepaid cards that cannot be used to withdraw money from the compliance. Given that there are records of such cards been exploited for illegal trading, Australian Transactions Reports Analysis Centre appears not to be up to date with the ongoing trend in ML/TF around the world.

Limitations of case study research methodology apply. Also, the prepaid card vendor information is based on an online search of their web sites and did not involve in‐person interactions to gather the information.

This is the first paper in anti‐money laundering literature that has considered SMEs and attempted to look into the AMLCTF Act compliance requirements' applicability for them. It is believed that the case study can facilitate further research related to regulation enforcement issues for SMEs.

The purpose of this paper is to identify the best interactions between sales promotion and advertisement plans as the resources of the brand attachment and its consequences in durable and fast-moving consumer goods.

The mixed methods research in the form of qualitative approach, using a phenomenological method and quantitative approach, using three experimental studies of factorial design types and a structural equation modeling method, have been used in this research.

The fit of plans to achieve the brand attachment is similar in both product categories. The financial gift, with the ability of liquidity and variety of shopping, fits with the advertisement messages at a high construal level and high argument strength. However, the financial gift, with the ability of purchase from particular stores, fits with the advertisement messages at the low construal level and high argument strength. Moreover, in both product categories, the brand attachment leads to the emotional and cognitive consequences.

This research provides experimental support with actual experiences to create a fit in marketing communication plans in order to achieve a lasting and strong relationship. Therefore, this paper offers a valuable insight relating to financial gifts and advertisement messages and their effects on consumers’ behavior. It can also be used by other managers and researchers to assess their communication options.

The learning outcomes are to get an understanding of the greeting cards (GCs) industry – appreciate the evolution of the industry and the changes that have been impacting the industry; analyze the external environment situation and assess the current strategy of Archies; analyze the existing strategy of Archies and apply the knowledge of strategic frameworks to the current business context of Archies; and create a new strategy for the company to overcome its current challenges.

The case highlights the situation faced by Archies Limited, a company, which pioneered the growth of the social expression industry in India and developed the market for GCs, a quintessentially Western concept in the Indian market. While it experienced phenomenal growth for two and a half decades, in the past 10 years, things have become more difficult for the company. Based on secondary data, this case presents various facts related to the case and seeks answers related to possible strategies that the firm may explore in the future.

Undergraduate and postgraduate management course in the area of strategic management. The level of difficulty can be from medium to high depending on the learning level.

Teaching Notes are available for educators only.

CSS 11: Strategy.

This study aims to add to the gift giving literature by examining how the wealth of a recipient impacts giver spending. The authors tested the hypotheses that givers spend more on wealthy (vs unwealthy) recipients, partially because givers anticipate a greater difference in gift-liking across expensive and cheap gifts when the recipient is wealthy, and partially because givers are more motivated to signal that they are of high financial status when the recipient is wealthy. The authors also tested whether givers’ tendency to spend more on wealthy (vs unwealthy) recipients attenuates when the recipient is someone with whom the giver has a negative (vs positive) relationship.

Eight experimental studies tested the hypotheses. These studies had participants act as givers, consider giving a gift to either a wealthy or unwealthy recipient and indicate how much money they would spend on the gift. Some studies included additional measures to test potential mediators, while another included an additional manipulation to test a potential boundary condition.

Gift givers spend more on gifts for wealthy (vs unwealthy) recipients, for two main reasons. On the one hand, givers are influenced by an other-oriented motive – they wish for their gift to be well-liked by the recipient and anticipate a greater difference in recipient gift-liking across expensive and cheap gifts when the recipient is wealthy. On the other hand, givers are influenced by a self-oriented motive – they wish to signal to the recipient that they are of high financial status, but this desire is stronger when the recipient is wealthy. Critically, givers are relatively unlikely to spend more on wealthy (vs unwealthy) recipients when they have a negative (vs positive) relationship with the recipient.

The authors studied how the wealth of the gift recipient influences givers’ gift expenditure, but they did not examine the recipient’s perspective. Future research could address this by exploring whether recipients’ gift preferences vary based on their wealth.

Gift purchases account for a significant portion of worldwide consumer spending, making gift giving an important topic for consumers and marketers alike. The present research sheds light on a factor that has a notable impact on how much consumers spend on a gift when faced with a gift giving decision.

This manuscript contributes to the gift giving literature by exploring an important aspect that influences consumer gift expenditure (the wealth of the recipient), demonstrating a novel gift giving phenomenon [that givers spend more when giving to relatively wealthy (vs unwealthy) recipients], and shedding new light on the psychology of consumers in gift giving contexts (namely, how givers’ perceptions of recipient gift-liking, their desire to send signals of high financial status and their relationship with the recipient can influence their gifting decisions).

The authors aim to analyze actual practice in industry with respect to the use, choice, and effectiveness of four types of incentives, cash, prepaid cards, travel, and merchandise.

The paper uses a survey of 170 practicing incentive design managers.

Usage of cash and cards continue to increase but travel and merchandise are still frequently used.

This will provide useful information to practitioners who design incentive programs.

There is a clear consensus of opinion that virtual environments and virtual currencies pose a money laundering and terrorism financing threat. What is less clear, however, is the level of risk that they pose. This paper aims to clarify the suitability of virtual environments for conducting money laundering and terrorism financing activities.

A number of experiments were conducted to estimate the quantity of funds that could be moved through these environments. These experiments took into account a number of factors such as the number of accounts that would need to be opened to launder/raise a specific amount of funds, the amount of funds that could be placed within a certain timeframe and the transaction limits imposed by each of the massively multiplayer online games and online financial service providers involved in the money laundering and terrorism financing scenarios.

The findings of this research show that money laundering and terrorism financing can take place inside virtual environments. Virtual money laundering and terrorism financing offer high levels of anonymity, potentially low levels of detection, and remove many of the risks associated with real-world money laundering and terrorism financing activity. However, this comes at the cost of ease, time and, in some cases, the amount of funds laundered. Large sums (millions of dollars) can be laundered in virtual environments, but this exponentially increases the level of effort involved in setting up accounts and placing, layering and integrating funds.

A number of authors have described potential virtual money laundering scenarios, but some of these are out-of-date due to closed loopholes, all are rudimentary and make no attempt to discuss the practicality or feasibility of using these scenarios. This research addresses those issues.