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Given that the majority of firms are followers of pioneering firms into new, related product markets, managers of almost all firms can benefit from benchmarking their competitive responses to pioneering new product introductions. This paper examines the competitive responses of firms not only in terms of the time until their responding new product introduction, but also in terms of the firms’ preceding stages of competitive response: awareness, interest, and evaluation. For example, how long does – and should – it take a follower firm to become aware of a pioneering new product introduction? A general conceptual framework and basic methodology is proposed for firms to evaluate and benchmark their competitive responses. Follower firm responses to pioneering new low‐fat food product introductions in North America are examined and illustrate the opportunity for benchmarking firms’ competitive responses.

This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in China can mitigate price distortions caused by the implicit government guarantees and promote the development of the high-risk bond market.

This paper exploits the staggered introduction of bankruptcy courts across cities to implement a differences-in-differences strategy on bond issuance data. Using bonds issued in China between 2018 and 2020, the impact of bankruptcy courts on the bond issuance market can be analyzed.

This paper reveals that bond issuance credit spreads increase and is more sensitive to firm size, profitability and downside risk of issuance entity after the introduction of bankruptcy courts. It also reveals a substantive increase in bond issuance quantity and a decrease in issuer credit ratings following the establishment of bankruptcy courts. In addition, the increase of credit spreads is more prominent for publicly traded bonds, those whose issuers located in provinces with lower judicial confidence, bonds issued by SOEs and bonds with stronger government guarantees. Finally, the role of bankruptcy courts is more pronounced in regions with higher marketization.

This paper relates to previous studies that investigate the impact of laws and institutions on external financing. It helps provide new evidence to this literature on how improvements of efficiency and quality in bankruptcy enforcements relate to the marketization of bond issuance. The results provide further evidence on legal institutions and bond financing.

Retailers' new product acceptance in base of pyramid (BoP) markets is crucial to marketers in this segment. This paper seeks to develop propositions for research on factors that affect retailers in new product introduction. The propositions also aim to make a distinction between urban and rural BoP markets.

The paper provides a broad description of India's BoP market (one of the world's largest BoP markets) to better understand context. It uses literature from developed country context to BoP markets to arrive at research propositions for further research.

The key research propositions derived relate to exogenous and endogenous factors. Exogenous factors relate to store trading area, competitive environment, shopper characteristics and product diversity. The endogenous factors include store atmosphere, assortment and shelf space allocation, price and promotion. The differences across rural and urban BoP markets are highlighted for each proposition.

Understanding differences between rural and urban BoP retailers can help make crucial new product introduction decisions. Considering endogenous and exogenous factors that influence retailer acceptance decisions will make product introduction decisions successful.

BoP literature has been replete with research on marketers and products but less on retailing. This paper addresses that gap. In addition, very few papers make the distinction between urban and rural BoP markets and mostly across countries but not within a country. This paper places the distinction within the country. Finally, explaining how various factors influencing retailing differ in urban and rural contexts and developing propositions is a major original contribution of this paper.

In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial authorities such as the Financial Stability Board (FSB) and Bank for International Settlements (BIS) have advocated for the introduction of a central counterparty (CCP). This study examines the structural characteristics of Korean repo markets and proposes the introduction of CCPs as a way to mitigate systemic risk. To this end, the author analyzes the structural differences between US and European repo markets and estimates the potential consequences of introducing CCP clearing in local repo markets. In general, CCPs offer two benefits: they can reduce required capital through netting in multilateral transactions, and they can mitigate the effects of risk transfer by isolating counterparty risk during periods of turbulence. In Korea, the latter effect is expected to play a pivotal role in mitigating potential risks.

In the 1980s, quality was the competitive priority that won orders in the marketplace. More recently, time‐based competition has emerged as the winning strategy, especially in fast‐cycle industries. Being the first to introduce a product into the market can bring significant benefits like higher price premiums or greater market share. Conversely, delaying the introduction of new products can lead to fearful consequences such as lower market share, lower margins, or the loss of customer goodwill. This paper reports on the reasons for delays in the introduction of new products in the computer industry. The analysis of the data suggests that quality should be built into the new product development process as a first step to accelerate the market introduction. The use of quality function deployment is suggested as a useful tool for reengineering the new product development process.

The paper aims to study the impact of the introduction of Nifty index futures on the volatility of the Indian spot markets by use of econometric models.

The study considered six measures of volatility, the dynamic linear regression model, and the GARCH models to investigate volatility in National Stock Exchange (NSE) Nifty prices both before and after the onset of futures trading.

The GARCH analysis confirmed no structural change after the introduction of futures trading on Nifty, and found that whilst the pre‐futures sample was integrated, the post‐futures sample was stationary. Spot returns volatility is found to be less important in explaining spot returns after the advent of futures trading in NSE Nifty.

The results imply that futures markets serve their prescribed role of improving pricing efficiency and improve the quality of information flowing to spot markets. This will enable investors to prudently structure their strategies investing in both spot and futures markets.

This study is an original piece of work towards exploring the impact of the introduction of futures trading on cash market volatility in an emerging economy like India.

Although perceived risk and usefulness have been identified as two major factors that influence consumer acceptance of an innovative mobile payment (m-payment), relatively few researchers have explored the impact of affective factors on perceived risk and usefulness, and the relationship between perceived risk and usefulness. Also, it is unclear whether there is a difference in the acceptance intention among users across different diffusion stages of this innovation. The purpose of this paper is to investigate the role of positive emotion in consumer acceptance of WeChat payment across time.

This study proposed and validated a framework integrating the consumer response system model and the affect heuristic. A total of 484 valid responses were collected through two online surveys at two diffusion stages of WeChat payment technology. The structural equation modeling and multigroup analysis were used to test the hypotheses.

The results show that users’ acceptance intention is relatively related to perceived risk, perceived usefulness, and positive emotion. Positive emotion has a strong negative impact on perceived risk and a positive impact on perceived usefulness. Also, perceived usefulness strongly decreases users’ perception of risk. Multigroup analyses find that both positive emotion and perceived risk have significant positive and negative impacts on acceptance intention at the stage of market introduction rather than market growth. Rather, the influence of positive usefulness on acceptance intention is significantly higher at the stage of market growth than at market introduction.

This study indicates that exploring the role of positive emotion and the moderating effect of diffusion stages in m-payment acceptance provides a more comprehensive understanding of how to achieve a greater acceptance rate of an innovative m-payment.

The essential investments in new product development (NPD) made by industrial companies entail effective management of NPD activities. In this context, performance measurement is one of the means that can be employed in the pursuit of effectiveness.

An aspect of spectrum reform receiving increasing attention is the introduction of secondary markets for spectrum in order to enable more flexibility to reassign unused and underused spectrum to users that will use it more efficiently. This paper proposes to focus on the policy issues relating to the development of well‐functioning secondary markets for spectrum.

The paper reviews developments in the debate over secondary markets for spectrum. It draws together key elements from the academic literature, various government and government‐commissioned reports, and the practical experience of the few countries that have already introduced spectrum trading. There is considerable focus on concerns and potential costs relating to the introduction of spectrum trading and liberalisation. This has a constructive aim – to draw attention to the need to address such concerns in order to facilitate the development of spectrum trading.

While there is a persuasive case for spectrum trading, countries have been slow to introduce it because of a number of concerns. This paper identifies these concerns and the regulatory framework/policies needed to address them.

The paper distils the policy issues in the debate over spectrum trading and identifies the role that regulators will need to play in the introduction, facilitation and regulation of secondary markets for spectrum.