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Book part

Heli Wang and Jeffrey J. Reuer

This paper provides a stakeholder-based rationale for firm risk reduction through diversification. While firm-specific investments from stakeholders are often important…

Abstract

This paper provides a stakeholder-based rationale for firm risk reduction through diversification. While firm-specific investments from stakeholders are often important sources of firm competitive advantage and economic rents, there is a reduced incentive for stakeholders to make these investments due to the risk associated with firm-specific investments. Since the risk associated with firm-specific investments is often related to the total firm risk level, we argue that stakeholders’ difficulties in diversifying the risks associated with their firm-specific investments create incentives for risk management by firms. We test this argument in a diversification setting. Based on a sample of firms’ first acquisition moves, we find that firms are more likely to engage in risk reduction through diversification when high levels of firm-specific assets are important to the firm's operations. Several proxies for stakeholders’ specific investments are found to be significant in explaining cross-sectional variation in the extent of ex ante risk reduction in acquisitions.

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-76231-337-2

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Abstract

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Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-76231-337-2

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Article

Heli Hallikainen, Saku Hirvonen and Tommi Laukkanen

The purpose of this paper is to examine how the perceived trustworthiness of a B2B service provider relates to a business customer’s intention to use digital services from…

Abstract

Purpose

The purpose of this paper is to examine how the perceived trustworthiness of a B2B service provider relates to a business customer’s intention to use digital services from that provider. The study investigates whether perceived trustworthiness, composed of ability, integrity and benevolence, explains behavioral intentions equally among all business customer segments, and how characteristics such as job level, decision-making role, technology readiness age and gender moderate these effects.

Design/methodology/approach

Drawing on a model of trust transfer mechanism, the study explores how perceived trustworthiness established in face-to-face interaction influences the use of digital services in making B2B purchases. Hypotheses are tested using a sample of 1,866 responses collected from customers of four B2B firms.

Findings

Ability is the most influential on the customer’s intention to transact through digital channels, while the effects of integrity and benevolence show more variation. The effect of perceived trustworthiness on the intention to use digital services is remarkably stronger among senior and middle management, high-level decision makers, the younger age segment, men and individuals high in technology readiness, compared to other segments studied.

Originality/value

The study contributes to the scant research on B2B customer behavior in the digital environment and incorporates individual characteristics specific to the industrial domain.

Details

Industrial Management & Data Systems, vol. 120 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

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Article

Elina Närvänen, Hannu Kuusela, Heli Paavola and Noora Sirola

This paper's purpose is to develop a meaning-based framework for customer loyalty by examining how consumers make sense of customer loyalty through meanings and metaphors.

Abstract

Purpose

This paper's purpose is to develop a meaning-based framework for customer loyalty by examining how consumers make sense of customer loyalty through meanings and metaphors.

Design/methodology/approach

A qualitative study based on in-depth interviews and focus group data in the retail context was conducted with Finnish customers. The data were analysed with qualitative data analysis techniques such as the constant comparative technique.

Findings

The empirical findings comprise eight loyalty meanings characterised by two dimensions. The first dimension is reflexive vs. routinised, and the second dimension is private vs. social. The loyalty types are dimensionalised through four metaphors: loyalty as freedom of choice; as being conventional and binding; and as belongingness.

Practical implications

The findings improve the way customer loyalty currently is understood in the retail setting. The paper proposes that customer insight that utilises thick data can be used to grasp loyalty meanings. These data are rich in context and detail, and they take into account customers' everyday lives. Utilising thick data in the form of storytelling fuels customers' meaning-making related to customer loyalty, potentially enriching their relationship with the retailer.

Originality/value

Customer loyalty has been driven largely by a transactional and company-centric perspective. This article presents an alternative view of customer loyalty that accounts for the variety of meanings that customers may assign to their loyalty-related thoughts and behaviours.

Details

International Journal of Retail & Distribution Management, vol. 48 no. 8
Type: Research Article
ISSN: 0959-0552

Keywords

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Advances in Hospitality and Leisure
Type: Book
ISBN: 978-1-84855-675-1

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Book part

Russell W. Belk, Kelly Tian and Heli Paavola

Purpose – We use data from the United States and Finland, a literature review, and historical analysis to understand the concept and role of cool within global consumer…

Abstract

Purpose – We use data from the United States and Finland, a literature review, and historical analysis to understand the concept and role of cool within global consumer culture.

Methodology/approach – This is a conceptual review and qualitative analysis of data from depth interviews, journals, and online discussion groups in two U.S. locations and one Finnish location.

Findings – Cool is a slang word connoting a certain style that involves masking and hiding emotions. As cool diffuses we find that it is both distilled and diluted. The concept itself has also evolved. What was once a low-profile means of survival and later a youthful rebellious alternative to class-based status systems has become commoditized.

Research limitations/implications – The study has been conducted in two cultures with a limited range of ages thought to be most susceptible to the appeal of being cool.

Practical limitations/implications – Marketers may not yet have exploited cool as effectively as they have exploited sex, but mainstream consumers now look for cool in the marketplace more than within themselves. The result is a continuous race to offer the next cool thing.

Originality/value of chapter – It is argued that coolness is a new status system largely replacing social class, especially among the young.

Details

Research in Consumer Behavior
Type: Book
ISBN: 978-0-85724-444-4

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Abstract

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Research in Consumer Behavior
Type: Book
ISBN: 978-0-85724-444-4

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Article

THE setting of the Institute's annual meetings is a splendid stage that never changes and where the play is performed only once. This year, more than ever before, it was a…

Abstract

THE setting of the Institute's annual meetings is a splendid stage that never changes and where the play is performed only once. This year, more than ever before, it was a play worth attending. Nor could one complain of the attendance, though there were fewer executives present; the leaders of the aviation business are probably too busy facing the hardships of the times.

Details

Aircraft Engineering and Aerospace Technology, vol. 20 no. 3
Type: Research Article
ISSN: 0002-2667

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Article

Changwu Liu, Haowen Wang and Chen Jiang

The paper aims at developing a novel algorithm to estimate high-order derivatives of rotorcraft angular rates to break the contradiction between bandwidth and filtering…

Abstract

Purpose

The paper aims at developing a novel algorithm to estimate high-order derivatives of rotorcraft angular rates to break the contradiction between bandwidth and filtering performance because high-order derivatives of angular rates are crucial to rotorcraft control. Traditional causal estimation algorithms such as digital differential filtering or various tracking differentiators cannot balance phase-lead angle loss and high-frequency attenuation performance of the estimated differentials under the circumstance of strong vibration from the rotor system and the rather low update rate of angular rates.

Design/methodology/approach

The algorithm, capable of estimating angular rate derivatives to maximal second order, fuses multiple attitude signal sources through a first-proposed randomized angular motion maneuvering model independent of platform dynamics with observations generated by cascaded tracking differentiators.

Findings

The maneuvering flight test on 5-kg-level helicopter and the ferry flight test on 230-kg-level helicopter prove such algorithm is feasible to generate higher signal to noise ratio derivative estimation of angular rates than traditional differentiators in regular flight states with enough bandwidth for flight control.

Research limitations/implications

The decrease of update rate of input attitude signals will weaken the bandwidth performance of the algorithm and higher sampling rate setting is recommended.

Practical implications

Rotorcraft flight control researchers and engineers would benefit from the estimation method when implementing flight control laws requiring angular rate derivatives.

Originality/value

A purely kinematic randomized angular motion model for flight vehicle is first established, combining rigid-body Euler kinematics. Such fusion algorithm with observations generated by cascaded tracking differentiators to estimate angular rate derivatives is first proposed, realized and flight tested.

Details

Aircraft Engineering and Aerospace Technology, vol. 93 no. 2
Type: Research Article
ISSN: 1748-8842

Keywords

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Article

Bình Nghiêm-Phú

This study aims to identify the sensory inputs that tourists use to shape their nightlife experiences.

Abstract

Purpose

This study aims to identify the sensory inputs that tourists use to shape their nightlife experiences.

Design/methodology/approach

The situations in three Southeast Asian cities, Bangkok, Kuala Lumpur and Singapore were examined, using tourist reviews posted on tripadvisor.com. A total of 460 data units concerning Bangkok, 373 data units concerning Kuala Lumpur and 453 data units concerning Singapore were compiled and manually analyzed to reveal the frequency of the primary sensory inputs used by the reviewers. Bivariate correlation analysis was additionally performed to reveal the co-occurrences of the sensory inputs that tourists used to form their impressions of each city.

Findings

The findings suggest that gustatory inputs were powerful yet unspecific, while visual inputs were vivid and conspicuous. Audio inputs added certain meaningful contributions to some extent for some tourists. However, the distribution of the sensory inputs differed across the three cities. Moreover, the contributions of the olfactory and tactile inputs are largely missing.

Practical implications

With the management of nightlife businesses (small or micro servicescapes), a thoughtful selection for the drink menu is necessary. When possible, a signature drink should be invented and promoted for each place. With the projection and promotion of tourist destinations as nightlifescapes, a sensory marketing approach should be considered. For example, nightlifescapes could be presented and promoted with unique drinks, good views of the city’s landmarks and interesting local music.

Originality/value

Prior to this study, little research has been carried out to investigate tourists’ nightlife experiences and their impressions of nightlifescapes. In addition, little has been done to identify the sensory inputs that tourists use to explain their experiences and impressions.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 14 no. 2
Type: Research Article
ISSN: 1750-6182

Keywords

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