Search results

This study aims to examine whether, and how, perceived product scarcity strengthens the attitude–behavior relation in the case of sustainable luxury products.

Three online studies were conducted to examine the moderating role of perceived product scarcity on the attitude–willingness to pay (WTP) relationship in the case of sustainable luxury products. A preliminary study (n = 208) examined the existence of an attitude–WTP gap toward a sustainable luxury product (i.e. a bag). Study 1 (n = 171) investigated the moderating effect of perceived scarcity induced by a limited quantity message on the relationship between consumer attitude and the WTP for a sustainable luxury product (i.e. a pair of shoes). Study 2 (n = 558) replicated these findings using a different product category (i.e. a wallet) while controlling for demographic variables and examined the moderating role of consumer characteristics on the scarcity effect.

Consumers’ perceived scarcity for sustainable luxury products positively moderated the relationship between product attitudes and their WTP for the products. The moderating effect of perceived scarcity was significant for consumers regardless of their tendency toward socially responsible consumption and their preference for product innovativeness. Meanwhile, the scarcity effect was influenced by the consumers’ attitude toward the brand of sustainable products.

This research provides empirical evidence for marketers with clear managerial implications concerning how to immediately promote consumers’ acceptance of sustainable luxury products.

This study is the first to examine the role of scarcity strategy on strengthening the attitude–behavior relation for sustainable luxury products.

The purpose of this study is to determine whether the economic environment affects the merger and acquisition (M&A) activities in the restaurant industry.

The M&A transactions in the restaurant industry between 1981 and 2013 (n = 1,415) were examined. Data were collected from the Securities Data Corporation (SDC) database. Using an autoregressive distributed lag approach, this study developed three error correction models to explore the short- and long-term relationships between restaurant M&A activities and four macro-economic factors.

This study found that there was a long-term equilibrium relationship between the M&A activities and the four economic factors and that economic outlook had a significantly positive impact in the long term, while the effect of cost of debt was significantly negative in both the short and long terms. The findings suggest that restaurant firms are more likely to adopt M&A strategy when they are optimistic about the future economy and can take on debt at a low cost.

The findings of this study are expected to help practitioners make informative M&A decisions in the restaurant industry taking into consideration the economic environment. They will also help investors effectively manage their portfolios by predicting and ascertaining the proper time to invest in the restaurant industry based on the changes of economic environment.

No known study has been identified that examined the relationship between macro-economic factors and M&A activities in the restaurant industry. The findings of the study are expected to fill the gap in the literature by demonstrating the economic environment and the M&A activities in the restaurant industry are in a long-term equilibrium achieved by self-correction of their short-term disequilibrium.

Although concept evaluation has attracted much attention, collaborative concept evaluation has received minimal attention. In this work, we identify problems and propose solutions regarding collaborative concept evaluation. First, we reviewed past projects and interviewed evaluators with international design experiences to conclude that concept evaluation criteria are not established but constructed. Second, we apply the psychology of Brunswik's Lens model to propose that providing multiple concept aspects improve collaborative concept evaluation. Three experimental studies demonstrate that our proposed Concept Aspect Profile (CAP) model (1) is superior to existing concept evaluation models, (2) differentiates between breakthrough new product concepts and incremental new product concepts, and (3) increases the likelihood that a concept receives the Industrial Design Excellence Award (IDEA). This work contributes to marketing research of concept evaluation as well as provides implications for designers.

COVID-19 has generated unprecedented circumstances with a tremendous impact on the global community. The academic community has also been affected by the current pandemic, with strategy and management researchers now required to adapt elements of their research process from study design through to data collection and analysis. This chapter makes a contribution to the research methods literature by documenting the process of adapting research in light of rapidly changing circumstances, using vignettes of doctoral students from around the world. In sharing their experience of shifting from the initially proposed methodologies to their modified or completely new methodologies, they demonstrate the critical importance of adaptability in research. In doing so, this chapter draws on core literature of adaptation and conducting research in times of crises, aiming to provide key learnings, methodological tips and a “story of hope” for scholars who may be faced with similar challenges in the future.

The purpose of this paper is to explore the effect of musical tempo on consumer choice of tea in different temperatures.

Across two studies, participants were asked to listen to several musical stimuli with different tempi (i.e. slow or fast). Then, they were asked to evaluate and choose one drink (i.e. iced tea or hot tea).

Results suggest that consumers who listen to fast (slow) tempo music are more likely to choose iced (hot) tea. This effect is robust across different musical modes (i.e. major or minor) (Study 1). However, this musical tempo effect is attenuated when the participants are aware that the music they listened to can influence their judgments (Study 2).

This research is an exploratory study. Thus, further examinations are needed to fully understand the underlying mechanism of this effect. Nonetheless, this research provides an initial evidence of the mediator of this effect.

This research explores how different musical tempi can influence consumer choice of hot or iced tea. Thus, this research adds understanding on how auditory cues (e.g. musical stimuli) can influence consumer choice of other food and drink variables (e.g. temperature).

Fear grips stock markets when a pandemic like COVID-19 strikes, severely affecting stock prices. However, fundamental value drivers of companies do not change drastically during pandemics. The sensitivity of firms' cash flows to lockdowns during pandemics depends on their cost structure. This paper develops a financial model incorporating information about value drivers and lockdown sensitivity of companies to find the enterprise value.

The authors develop a financial model that estimates the effects of COVID-19 on enterprise value and helps to identify wrongly valued stocks. The authors apply the model to five Indian stocks from five different industries to study how firms belonging to various sectors get affected differently in this pandemic.

Companies belonging to civil aviation and retail sectors get more affected by COVID-19 compared to those in movie exhibition, automobile and hotel industries. The cost structure of the latter category of firms reduces their cash flow effect.

The model can be used by practitioners to understand any pandemic's effect on stock prices. Also, it explains how firms having different cost structures get affected by any crisis and help investors in taking appropriate buy/sell decisions.

The study has two contributions: first, the authors develop a financial model to estimate the effect of COVID-19 on the enterprise value. Second, contrary to popular perception, the authors find companies belonging to movie exhibition, hotel and automobile industries do not get that severely affected.