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Discusses and empirically tests special cases of multiple‐chain mixed Markov latent class models with business data. The switches between negative and positive changes in earnings‐per‐share of firms are captured by alternative Markov models. The estimated response probabilities and state transition probabilities show interesting changes in the transformation patterns of the firms over time. Shows that Markov models can be valuable tools in predicting switches in profitability of firms.

This article addresses simultaneously two important features in random utility maximisation (RUM) choice modelling: choice set generation and unobserved taste heterogeneity. It is proposed to develop and to compare definitions and properties of econometric specifications that are based on mixed logit (MXL) and latent class logit (LCL) RUM models in the additional presence of prior compensatory screening decision rules. The latter allow for continuous latent bounds that determine choice alternatives to be or not to be considered for decision making. It is also proposed to evaluate and to test each against the other ones in an application to home-to-work mode choice in the Paris region of France using 2002 data.

Outsourcing of accounting increasingly attracts research interest, but research concerning the impact of the benefits of outsourcing on firm capabilities and performance across firms remains limited. This paper aims to reveal the unobservable latent classes of firms that outsource their accounting functions by testing a research model concerning the topic.

The authors build on accounting outsourcing research and adapt a research model from the literature on business services outsourcing. The authors analyze the data from 261 small and medium-sized enterprises in Europe using finite mixture structural equation modeling (FMSEM) and additional methods.

The authors reveal three latent classes with different research models. Thriving outsourcers (N = 103) have a positive attitude toward accounting outsourcing and associate competitive capabilities with mediating the relationship from outsourcing benefits to firm performance. Annoyed outsourcers (N = 143) are dissatisfied with their accounting service provider and only associate outsourcing benefits with competitive capabilities. Convenient outsourcers (N = 15) feel comfortable with their current accounting service provider and associate outsourcing benefits with neither capabilities nor with firm performance.

The study initiates the discussion about the unobservable heterogeneity among accounting outsourcers. The study introduces the use of the FMSEM method in accounting outsourcing research.

The study offers novel insights concerning accounting outsourcers and proposes original explanations for their outsourcing decisions that would help both the outsourcers and accounting service providers.

The study might be the first to categorize accounting outsourcers using FMSEM.

Under investigation is Prosecco wine, a sparkling white wine from North‐East Italy. Information collection on consumer perceptions is particularly relevant when developing market strategies for wine, especially so when local production and certification of origin play an important role in the wine market of a given district, as in the case at hand. Investigating and characterizing the structure of preference heterogeneity become crucial steps in every successful marketing strategy. The purpose of this paper is to investigate the sources of systematic differences in consumer preferences.

The paper explores the effect of inclusion of answers to attitudinal questions in a latent class regression model of stated willingness to pay (WTP) for this specialty wine. These additional variables were included in the membership equations to investigate whether they could be of help in the identification of latent classes. The individual specific WTPs from the sampled respondents were then derived from the best fitting model and examined for consistency.

The use of answers to attitudinal question in the latent class regression model is found to improve model fit, thereby helping in the identification of latent classes. The best performing model obtained makes use of both attitudinal scores and socio‐economic covariates identifying five latent classes. A reasonable pattern of differences in WTP for Prosecco between CDO and TGI types were derived from this model.

The approach appears informative and promising: attitudes emerge as important ancillary indicators of taste differences for specialty wines. This might be of interest per se and of practical use in market segmentation. If future research shows that these variables can be of use in other contexts, it is quite possible that more attitudinal questions will be routinely incorporated in structural latent class hedonic models.

Dynamic market segmentation is a very important topic in many businesses where it is interesting to gain knowledge on the reference market and on its evolution over time. Various papers in the reference literature are devoted to the topic and different statistical models are proposed. The purpose of this paper is to compare two statistical approaches to model categorical longitudinal data to perform dynamic market segmentation.

The latent class Markov model identifies a latent variable whose states represent market segments at an initial point in time, customers can switch to one segment to another between consecutive measurement occasions and a regression structure models the effects of covariates, describing customers’ characteristics, on segments belonging and transition probabilities. The latent class growth approach models individual trajectories, describing a behaviour over time. Customers’ characteristics may be inserted in the model to affect trajectories that may vary across latent groups, in the author’s case, market segments.

The two approaches revealed both suitable for dynamic market segmentation. The advice to marketer analysts is to explore both solutions to dynamically segment the reference market. The best approach will be then judged in terms of fit, substantial results and assumptions on the reference market.

The proposed statistical models are new in the field of financial markets.

On many occasions, organizational science research has been referred to as fragmented and disjointed, resulting in a literature that is, in the opinion of many, difficult to navigate and comprehend. One potential explanation is that scholars have failed to comprehend that organizations are complex and intricate systems. In order to move us past this morass, we recommend that researchers extend beyond traditional rational, mechanistic, and variable-centered approaches to research and integrate a more advantageous pattern-oriented approach within their research program. Pattern-oriented methods approximate real-life phenomena by adopting a holistic, integrative approach to research wherein individual- and organizational-systems are viewed as non-decomposable organized wholes. We argue that the pattern-oriented approach has the potential to overcome a number of breakdowns faced by alternate approaches, while offering a novel and more representative lens from which to view organizational- and HRM-related issues. The proposed incorporation of the pattern-oriented approach is framed within a review and evaluation of current approaches to organizational research and is supplemented with a discussion of methodological and theoretical implications as well as potential applications of the pattern-oriented approach.

This paper focuses on patterns of film consumption within cultural consumption more broadly to assess trends in consumerism such as eclectic consumption, individualised consumption and omnivorous/univorous consumption and whether economic background and status feature in shaping cultural consumption. We focus on film because it is widely consumed, online and offline, and has many genres that vary in terms of perceived artistic and entertainment value. In broad terms, film is differentiated between mainstream commercially driven film such as Hollywood blockbusters, middlebrow “feel good” movies and independent arthouse and foreign language film. Our empirical statistical analysis shows that film consumers watch a wide range of genres. However, films deemed to hold artistic value such as arthouse and foreign language feature as part of broad and wide-ranging pattern of consumption of film that attracts its own dedicated consumers. Though we found that social and economic factors remain predictors of cultural consumption the overall picture is more complex than a simple direct correspondence and perceptions of other cultural forms also play a role. Those likely to consume arthouse and foreign language film consume other film genres and other cultural forms genres and those who “prefer” arthouse and foreign language film have slightly more constrained socio-economic characteristics. Overall, we find that economic and cultural factors such income, education, and wider consumption of culture are significant in patterns of film consumption.

We discuss adoption as a diverse family structure in America. Adoption has existed in some form throughout the history with the portrayal varying by historical epoch. Adoption has been both disparaged and idealized to perpetuate the interest of elite players. This chapter discusses adoption in terms of the changing demographic which 21st century families face. In this manuscript, we first discuss the history of adoption in the United States including its impact as social control of premarital sex. Then the three players in the adoption triad are discussed and analyzed. Finally, we highlight how demographics of race, class, gender, and sexuality impact the adoption experience by 21st century families. Specifically, we explore the recent National Survey of Adoptive Parents from the United States Center for Disease Control and look at the modern adoption experience

It has long been recognised that humans draw from a large pool of processing aids to help manage the everyday challenges of life. It is not uncommon to observe individuals adopting simplifying strategies when faced with ever increasing amounts of information to process, and especially for decisions where the chosen outcome will have a very marginal impact on their well-being. The transactions costs associated with processing all new information often exceed the benefits from such a comprehensive review. The accumulating life experiences of individuals are also often brought to bear as reference points to assist in selectively evaluating information placed in front of them. These features of human processing and cognition are not new to the broad literature on judgment and decision-making, where heuristics are offered up as deliberative analytic procedures intentionally designed to simplify choice. What is surprising is the limited recognition of heuristics that individuals use to process the attributes in stated choice experiments. In this paper we present a case for a utility-based framework within which some appealing processing strategies are embedded (without the aid of supplementary self-stated intentions), as well as models conditioned on self-stated intentions represented as single items of process advice, and illustrate the implications on willingness to pay for travel time savings of embedding each heuristic in the choice process. Given the controversy surrounding the reliability of self-stated intentions, we introduce a framework in which mixtures of process advice embedded within a belief function might be used in future empirical studies to condition choice, as a way of increasingly judging the strength of the evidence.

While it is incontestable that eating in restaurants leads to a higher energy intake than eating at home, this paper explores the even more environmentally relevant connection between meat intake and the location of eating.

Based on secondary data from the US National Health and Nutrition Examination Survey (NHANES), the authors apply a latent class model (LCM), combining latent profile analysis (LPA) and regression analysis. Different (latent) consumer classes are modeled based (1) on share of meat consumption and (2) share of eating out by means of LPA, while class-specific socio-demographic characteristics are estimated by means of ordered logistic regression.

Results of the LPA reveal four (latent) consumer classes with regard to the share of meat consumption and the share of eating out. One class consists mostly of male meat lovers with a high share of eating out, which, however, only represents 7% of the sample. A much larger class represents an affluent social group that consumes the majority of food outside of the home but does not consume significantly more meat than the large group of moderates who mostly eat at home. The fourth class mostly consists of children with a very low intake of meat.

By applying a LCM, the authors shed some light on the relation between meat consumption and eating out. The authors demonstrated that commonly assumed relations, such as men eating more meat than women, do not necessarily apply. Similar findings apply to factors potentially influencing meat consumption, such as education, marital status and income.