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1 – 10 of 148Although the effects of both news sentiment and expectations on price in financial markets have now been extensively demonstrated, the jointness that these predictors can have in…
Abstract
Purpose
Although the effects of both news sentiment and expectations on price in financial markets have now been extensively demonstrated, the jointness that these predictors can have in their effects on price has not been well-defined. Investigating causal ordering in their effects on price can further our understanding of both direct and indirect effects in their relationship to market price.
Design/methodology/approach
We use autoregressive distributed lag (ARDL) methodology to examine the relationship between agent expectations and news sentiment in predicting price in a financial market. The ARDL estimation is supplemented by Grainger causality testing.
Findings
In the ARDL models we implement, measures of expectations and news sentiment and their lags were confirmed to be significantly related to market price in separate estimates. Our results further indicate that in models of relationships between these predictors, news sentiment is a significant predictor of agent expectations, but agent expectations are not significant predictors of news sentiment. Granger-causality estimates confirmed the causal inferences from ARDL results.
Research limitations/implications
Taken together, the results extend our understanding of the dynamics of expectations and sentiment as exogenous information sources that relate to price in financial markets. They suggest that the extensively cited predictor of news sentiment can have both a direct effect on market price and an indirect effect on price through agent expectations.
Practical implications
Even traditional financial management firms now commonly track behavioral measures of expectations and market sentiment. More complete understanding of the relationship between these predictors of market price can further their representation in predictive models.
Originality/value
This article extends the frequently reported bivariate relationship of expectations and sentiment to market price to examine jointness in the relationship between these variables in predicting price. Inference from ARDL estimates is supported by Grainger-causality estimates.
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Aditya Nugroho and Wei-Tsong Wang
This research aims to examine the factors that influence customers' product return intentions and proposes that YouTube product reviews can mitigate customers' desire to return a…
Abstract
Purpose
This research aims to examine the factors that influence customers' product return intentions and proposes that YouTube product reviews can mitigate customers' desire to return a product.
Design/methodology/approach
The proposed theoretical research model and hypothesized relationship were investigated using a quantitative process. This study used 302 data from Indonesian young adult respondents to examine the structural model, which was analyzed using the SmartPLS 3.2 software package.
Findings
The results show that YouTube product reviews, product fit uncertainty and customer satisfaction are the key determinants of customers' product return intention. Furthermore, the results show that the credibility of YouTube product reviews has a major impact on customers' familiarity with a product, satisfaction and the likelihood of returning goods to sellers.
Practical implications
In the e-commerce industry, increasing the use of YouTube product reviews will help businesses eliminate unnecessary product returns. Sellers are also encouraged to collaborate with YouTube producers to review specific products, which can benefit companies by raising brand awareness and gaining customer feedback. Furthermore, YouTube online product reviews can help consumers avoid having an unpleasant shopping experience that causes emotional reactions and lowers satisfaction.
Originality/value
Most research has not considered antecedents in observing the product return phenomenon; this study observes a prerequisite of consumer product returns (i.e. information asymmetry and product familiarity) and investigates the relationships between YouTube product reviews, customer satisfaction and product return intention.
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Wilson Ozuem, Michelle Willis, Kerry Howell, Silvia Ranfagni and Serena Rovai
User-generated content (UGC) and service failure have attracted considerable marketing inquiry over the last two decades. Previous studies primarily focused on the outcome of…
Abstract
Purpose
User-generated content (UGC) and service failure have attracted considerable marketing inquiry over the last two decades. Previous studies primarily focused on the outcome of service failure and the impact of UGC on perceived failure severity. This article departs from previous studies as it examines the moderating role of UGC on the relationship between service failure recovery (SFR) and customer–brand relationship.
Design/methodology/approach
Building on commitment-trust theory and from a phenomenological hermeneutical perspective, this article explores this phenomenon through the interpretation of 60 in-depth interviews with millennials from three European countries: Italy, France and the UK. An analysis of the data was conducted using a qualitative approach to understand the main constructs and relationships derived from the data.
Findings
This study conceptualises four distinct moderating characteristics of UGC in the SFR process: satisfaction with experience and brand, dissatisfaction with experience and brand, satisfaction with brand and dissatisfaction with brand. The insights from the responsiveness, empathetic response, counterfactual thinking and brand salience (RECB) framework contribute to research on UGC and shed light on the relationship between SFR and consumer–brand relationships in the fashion industry.
Originality/value
Overall, this study demonstrates that customer interactions with UGC significantly affect their responses to, and relationships with, a brand. The proposed framework opens up interesting avenues for future research on the moderating role of UGC on the relationship between SFR and customer–brand relationships.
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Maria Petrescu, John Gironda and Kathleen Bay O'Leary
This paper aims to evaluate and structure the basic heuristics consumers use in evaluating word-of-mouth (WOM) about luxury hotel brands while analyzing the impact of deception in…
Abstract
Purpose
This paper aims to evaluate and structure the basic heuristics consumers use in evaluating word-of-mouth (WOM) about luxury hotel brands while analyzing the impact of deception in online consumer reviews.
Design/methodology/approach
The research used a two-study mixed-methods approach, using interpersonal deception theory and social proof theory as lenses to conduct our analysis. For the first study, a qualitative conceptual mapping analysis was conducted, examining online consumer reviews to identify key concepts and their relationships in the context of luxury hotel brands. In the second study, the themes were further examined using a fuzzy-set qualitative comparative analysis to analyze their causal complexity and association between variables to determine how they influence the perceived helpfulness of online reviews for luxury hotel brands.
Findings
The results underline the importance of functional, objective variables, such as the number of reviews and stars, as social proof heuristics and other factors, including clout, authenticity and analytic tone, as interpersonal communication heuristics. Therefore, consumers use a combination of social and interpersonal communication heuristics to extract information from reviews and manage deception risk.
Research limitations/implications
The paper contributes to the consumer–brand relationship literature by assessing the heuristics consumers use in evaluating online reviews and provides additional information for research in online reputation management.
Practical implications
This study’s results can help marketing practitioners and brand managers manage their online reputations better. It can also aid managers in improving their messaging on hotel websites to entice consumers to complete bookings. Heuristics play an essential role in such messaging and understanding them can help marketers appeal directly to their target market.
Originality/value
This study contributes to the literature on consumer–brand relationships by providing a framework of heuristics that consumers use when evaluating luxury service brands and contributes to WOM and online reputation research by highlighting factors that may make online reviews more helpful.
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Aditi Sarkar Sengupta, Marla Royne Stafford and Alexa K. Fox
The authors' research examines how negative electronic word-of-mouth (e-WOM) alters focal customers' post-recovery justice perceptions and attitudes to determine their future…
Abstract
Purpose
The authors' research examines how negative electronic word-of-mouth (e-WOM) alters focal customers' post-recovery justice perceptions and attitudes to determine their future behavior with the service provider. Specifically, this paper develops and tests a conceptual model to investigate how negative e-WOM alters focal customers' perceptual and attitudinal outcomes after the service recovery experience. It also examines the post-recovery effect of negative e-WOM on focal customers’ willingness to patronize the service after their recovery experience.
Design/methodology/approach
To test the hypotheses, two pretests and two experimental studies with created scenarios in the retail context were conducted.
Findings
The authors' findings reveal that services are judged during and well beyond failure and recovery occurrences. To maintain a loyal customer base, service managers should develop processes that address service complaints both within and beyond the service consumption stage. The authors also find that despite a favorable recovery, focal customers gravitate toward the failure experience and develop unfavorable attitudes toward the service provider, leading to likely defections.
Originality/value
The authors' research demonstrates the persuasive power of negative e-WOM at the post-service recovery stage, making a unique contribution to the service recovery literature. This research also contributes to the persuasive effect of negative e-WOM, demonstrating message context as a boundary condition of negative e-WOM effects. In general, the authors' work highlights the importance of understanding the psychological processes involved in eliciting the persuasive influence of negative e-WOM in the post-service recovery stage that may lead to the defection of “so-called” successfully recovered customers.
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Ling Hooi Lee and Zulhamri Abdullah
Organizational reputation has come to the forefront amidst today’s increasingly competitive business environment. While the perspectives of external stakeholders continue to…
Abstract
Purpose
Organizational reputation has come to the forefront amidst today’s increasingly competitive business environment. While the perspectives of external stakeholders continue to generate research attention among reputation scholars, perceptions of internal stakeholders like employees deserve similar or more focus due to their ability to sway external organizational reputation. Thoroughly understanding organizational variables that precede internal reputation perceptions among employees and the ensuing consequences enables effective reputation management measures. This study aims to develop a comprehensive framework that outlines the antecedents and consequences of the internal reputation concept.
Design/methodology/approach
The Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 review protocol was applied. Around 24 journal articles were drawn from the Web of Science and Scopus databases and analyzed using qualitative content analysis.
Findings
The review revealed 31 constructs related to the internal reputation concept, which were categorized into seven main themes, and a comprehensive framework was developed. Future research recommendations include the need to expand the study’s parameters, adopt a different research method and target varied contexts to achieve a more exhaustive systematic literature review on internal reputation.
Research limitations/implications
This study attempts to contribute to the understanding of the internal reputation concept, theories and reputation management practices through its findings.
Originality/value
This paper provides the first known systematic literature review of the internal reputation concept, which could provide practical guidance to professionals in internal reputation management and academic guidance for future research in internal reputation.
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This study aims to understand consumers' reactions to hospitality corporate social responsibility (CSR) campaigns under different resource scarcity reminders, an important but…
Abstract
Purpose
This study aims to understand consumers' reactions to hospitality corporate social responsibility (CSR) campaigns under different resource scarcity reminders, an important but overlooked contextual factor, and examine how such scarcity reminders interact with message framing, a widely used technique in CSR communication.
Design/methodology/approach
Three experimental studies were conducted. Studies 1 and 2 examined the main effect of resource scarcity reminders (environmental vs personal) on consumer engagement via self-other orientation. Study 3 further investigated the interactive effect between resource scarcity reminders (environmental vs personal) and message framing (gain vs loss) with hope as a key mediator.
Findings
Studies 1 and 2 show that environmental (vs personal) scarcity activates a more salient other orientation, subsequently increasing consumers' donation and word-of-mouth intentions. Study 3 reveals that environmental (vs personal) scarcity makes people more hopeful with gain-framed messages. Moreover, the elevated hope enhances perceived efficacy (attitude toward the company), leading to higher donation (word-of-mouth) intention.
Practical implications
Hospitality marketers could remind consumers of the harsh environment to elicit other orientation and encourage CSR participation. Using gain-framed messages or other hope-inducing appeals would be particularly advantageous in engaging consumers in CSR campaigns during heightened environmental scarcity.
Originality/value
Focusing on consumer responses to CSR campaigns, to the best of the authors’ knowledge, this research is the first to reveal reminders of resource scarcity as a novel antecedent factor and further uncover how such reminders interact with message framing to affect CSR engagement.
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Chih-An Lin, Yu-Ming Hsu and Homin Chen
During COVID-19 restrictions, people spent more time in cyberspace and consuming health-related information. An increase was also observed in mediated caring messages or…
Abstract
Purpose
During COVID-19 restrictions, people spent more time in cyberspace and consuming health-related information. An increase was also observed in mediated caring messages or health-relevant information sent to one another. This study aims to explore how the information and interactions around COVID-19 can provide a good learning opportunity for public health, specifically related to eHealth literacy and eHealth promotion.
Design/methodology/approach
While mainstream literature has concentrated on experimental designs and a priming effect, this study inspects psychological distance related to a health threat under real-life circumstances. The article adopted a survey approach and utilized PLS-SEM techniques to examine the proposed hypotheses.
Findings
Results indicated that whereas closer social support correlates with closer psychological distance and less usage of the social media approach, more substantial COVID-19 impacts were associated with closer psychological distance but greater use of social media. Since both closer psychological distance and social media approach contribute to eHealth literacy, social support from closer and virtual social networks should be embraced but utilized through different routes and for different purposes. The timing of messages but not psychological distance affects people's social media approach, indicating that morning messages should be employed. Moreover, eHealth literacy mediates timing preferences and leads to a preference for eHealth communication earlier in the day. Overall, morning messages create a virtuous circle during a health crisis.
Originality/value
This paper establishes a mechanism of virtuous cycles for eHealth communication during a health threat. Additionally, it bridges existing research gaps by expanding chronopsychology and CLT in the health domain using an empirical approach, a real-life case and an extension of performance regarding information-seeking and utilization.
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Mehmet Emin Bakir, Tracie Farrell and Kalina Bontcheva
The authors investigate how COVID-19 has influenced the amount, type or topics of abuse that UK politicians receive when engaging with the public.
Abstract
Purpose
The authors investigate how COVID-19 has influenced the amount, type or topics of abuse that UK politicians receive when engaging with the public.
Design/methodology/approach
This work covers the first year of COVID-19 in the UK, from March 2020 to March 2021 and analyses Twitter abuse in replies to UK MPs. The authors collected and analysed 17.9 million reply tweets to the MPs. The authors present overall abuse levels during different key moments of the pandemic, analysing reactions to MPs by gender and the relationship between online abuse and topics such as Brexit, the government’s COVID-19 response and policies, and social issues.
Findings
The authors have found that abuse levels towards UK MPs were at an all-time high in December 2020. Women (particularly those from non-White backgrounds) receive unusual amounts of abuse, targeting their credibility and capacity to do their jobs. Similar to other large events like general elections and Brexit, COVID-19 has elevated abuse levels, at least temporarily.
Originality/value
Previous studies analysed abuse levels towards MPs in the run-up to the 2017 and 2019 UK General Elections and during the first four months of the COVID-19 pandemic in the UK. The authors compare previous findings with those of the first year of COVID-19, as the pandemic persisted, and Brexit was forthcoming. This research not only contributes to the longitudinal comparison of abuse trends against UK politicians but also presents new findings, corroborates, further clarifies and raises questions about the previous findings.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-07-2022-0392
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Ruibin Geng, Xi Chen and Shichao Wang
Endorsement marketing has been widely used to generate consumer attention, interest and purchase decisions among targeted audiences. Internet celebrities who become famous on the…
Abstract
Purpose
Endorsement marketing has been widely used to generate consumer attention, interest and purchase decisions among targeted audiences. Internet celebrities who become famous on the Internet are dependent on strategic intimacy to appeal to their followers. Our study aims to examine how multiple exposures to Internet celebrity endorsements influence consumers’ click and purchase decisions in the context of influencer marketing.
Design/methodology/approach
Based on a unique and representative dataset, the authors first model consumers’ choices for clicks and purchases with two panel fixed-effect logit models linking clicks and purchases with the frequency of exposure to Internet celebrity endorsement. To further control the endogeneity produced by the intercorrelation between the click and purchase models, the authors also adopt the two-stage Heckman probit structure to jointly estimate the two models using Maximum Likelihood Estimation. Robustness checks confirm the effectiveness of the models.
Findings
The results suggest that Internet celebrity endorsement plays a significant role in bringing referral traffic to e-commerce sites but is less helpful in affecting conversion to sales. The impact of repetitive Internet celebrity endorsements on consumers’ click decisions is U-shaped, but the role of Internet celebrities as online retailers will “shape-flip” this relationship to a negative linear relation.
Originality/value
Our study is the first to investigate the repetitive exposure effect of Internet celebrity endorsement. The results show a contradictory pattern with a wear-out effect of repetition in the advertising literature. This is the first study to show how the endorsing self, which is a common business model in influencer marketing, moderates the effectiveness of influencer marketing.
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