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Numerous studies suggest that announcements of capital offerings cause abnormal price reaction in stock markets. However, despite extensive research, relevant studies on the property sector are still relatively scarce, especially in the case of Hong Kong. The determinants of the post‐offering price effects, which vary across industries and regions, are yet to be identified. This paper aims to examine the abnormal stock return phenomenon of Hong Kong property developers and construction companies surrounding the announcement and offer dates of capital issuances.

It employs the event‐study methodology and regression analysis to verify such effects.

The major findings are: on equity offering announcements, there is a significant negative price reaction; the pre‐offering debt/equity ratio of a firm is significantly associated with the level of abnormal price reactions; and on debt offerings there is, to the contrary, a modest increase in stock prices.

This study has identified a set of determinants of the post‐offering stock price effects.

It can be concluded that there is evidence of abnormal price effects over the announcement and offer dates of capital issuances with unique characteristics of the property and construction sectors in Hong Kong.

Purpose – The purpose of this chapter is to provide a comprehensive understanding of current literature on value. In exploring perspectives on economics, choice, consumption and evaluation of value, assumptions and limitations of extant approaches are highlighted and an integrative framework of value is proposed. It is suggested that this integrative perspective on value has a number of implications for marketing theory and research.

Methodology/approach – This chapter conducts an extensive review and assimilation of value from management, marketing, philosophy and economics.

Findings – The chapter categorises the existing value literature into six themes of value understanding: utility, economic worth, perceived satisfaction, net benefit, means end and phenomenological experience. In so doing, the chapter identifies implicit assumptions in philosophy, chronology and consciousness of value and offers an integrative value framework which brings in the literature to understand the contextual invariances of value creation within a phenomenon (i.e. offering, affordance, context, agency and individual resources). In addition, it reconciles creation with choice and evaluation of the value ex ante and ex post. Finally, our chapter proposes the paradox of value – value which can be assessed, measured and even judged by an individual cannot be the value created.

Research limitations/implications – In shifting value away from exchange towards use, it is suggested that marketing positioning, segmentation and targeting strategies may need to consider five elements identified in the integrative value framework. Furthermore, as proposed by the framework, new business models may be achieved from understanding value creation in context.

Originality/value of chapter – This chapter extends existing literature on value through reconciliation of various theoretical literatures in management, marketing, philosophy and economics. Notably, it highlights implicit assumptions in philosophy, chronology and consciousness of value and their potential limitations. It proposes an integrative framework that can be used for understanding the future of marketing and new business models.

The purpose of this paper is to present a consumer‐oriented model of the market offering (marketing mix) whereby business practitioners, as well as academic scholars and students, can better understand the parallel‐based logic of how the four elements of a market offering are closely related and interdependent at the initial stage of market entry.

A consumer research study is conducted to identify the key factors that influence consumer buying decisions of particular products in Europe and North America. The five key factors identified are: importance of the product, time and effort to be spent in buying, technical complexity of the product, need for services in the buying process, and rate of product change. In addition, a thorough analysis of the marketing mixes used for numerous major categories of products is conducted. Based upon this research study and product category analysis, a consumer‐oriented model is developed. This model can then be used in establishing the initial market offering and subsequent competitive differentiation.

A basic foundation exists regarding the parallel relationship between and among the four elements of a firm's market offering – product, terms of sale, distribution, and communication – and why a change in any one of the elements generates a logical change in the other three.

The paper has used this model both in business consulting practices, and as an academic‐based learning tool.

The paper focuses on this interdependent relationship and the normal “fit” between and among the four elements of a successful initial market offering (marketing mix).

The purpose of this paper is to analyze the OpenIPO process, vis‐à‐vis traditional bookbuilding, and evaluate the suitability of the OpenIPO for various types of companies, market conditions, and assets.

This paper develops the pros and cons of the OpenIPO process, vis‐à‐vis the traditional bookbuilding method, in light of the recent academic literature on securities auctions and the results of the OpenIPOs Hambrecht has conducted, as of mid‐2004.

The main advantage of the OpenIPO process is that it precludes many of the abuses recently observed in investment banking; however, it is not well suited for complex businesses that are either difficult to value or far removed from the public eye.

Only nine OpenIPOs have been conducted by Hambrecht, or using the Hambrecht method, as of the completion of this paper in mid‐2004.

The paper foresees the OpenIPO process of Hambrecht as supplementing, rather than supplanting, the traditional bookbuilding method. This could come about through the emergence of the OpenIPO as a more viable alternative to bookbuilding, or possibly through some hybrid type of offering in which individual investors play a larger role in price discovery, via the internet, and shares are allocated through both the internet auction and traditional bookbuilding.

Managers considering an initial public offering have a choice between the OpenIPO process of Hambrecht, used in the Google offering, and the traditional bookbuilding process. The choice of the OpenIPO has become more viable not only because of the Google offering, but due to the severe criticism the traditional method has received in recent years for alleged abuses related to the pricing and allocation of shares. This paper assists managers in evaluating this choice IPO offer type while rigorously evaluating the pros and cons of the OpenIPO process and its likely future role in the investment banking industry.

Both online and brick and mortar retailers have invested heavily in developing omni-channel service offerings. Though seen as a competitive necessity, these omni-channel service offerings increase costs and complexities. The purpose of this study is to examine the effects of strategies involving bundles of omni-channel services related to order fulfillment and returns management on retailer performance.

Archival data were obtained for 152 retailers and analyzed using ordinary least squares regression. Robustness tests using an alternative dependent variable and a model-based classification strategy corroborate our findings.

Retailers offering full sets of high integration omni-channel services (buy online pick up in store, ship from store and in-store returns) have better performance (e.g. sales, growth and competitive position) and web sales than retailers that offer only a partial mix of these high integration services. Retailers offering a partial bundle of high integration services, in turn, have better performance and web sales than retailers that offer none of these services.

The research extends work that has examined the performance effects of omni-channel services on individual retailers. Our results indicate retailers benefit the most when offering a full set of high integration omni-channel services, suggesting retailers who have only adopted a subset of these services could improve performance through broader adoption of services. The results further indicate partial adoption of high integration services is better than no adoption.

The authors compare the post-issue stock and operating performance of rights issue versus public offer firms using Korean data. The authors find that the stock returns of rights issue firms are less negative than those of public offering firms during the three years subsequent to the seasoned equity offering. The authors further find that the profitability of rights offering firms is superior to those of public offering firms and that the ratio of sales to assets for rights issue firms is much higher over the post-issue period. The results substantiate Heinkel and Schwartz’s (1986) and Eckbo and Masulis’ (1992) theoretical models that posit firms with better quality tend to select the rights issue rather than public offer method when issuing seasoned equity.

Focuses on the importance of successful competitive positioning in the European consumer market. Presents a model for establishing a competitive position in the minds of consumers. Proposes that the model presented will help marketing executives achieve a better competition position in the European market by the successful use of components and elements which it has identified.

Customer decision‐making uncertainty (DMU) is a persistent phenomenon in business‐to‐business markets. However, there is substantial variation in the degree to which customers perceive DMU and how suppliers should react to it. The purpose of this paper is to explain variation in customer decision‐making uncertainty.

Based on existing industrial buying typologies, this paper proposes a new classification scheme to explain variance in customer decision‐making uncertainty. Market offering complexity and co‐creation are used as defining dimensions in the construction of four archetypal types of industrial market offerings.

The paper demonstrates on a theoretical level that customer decision‐making uncertainty is especially prevalent in complex offerings characterized by high degrees of co‐creation.

This typology helps to provide a more nuanced understanding of the effects of co‐creation on customer value. Firms should adapt their selling approaches to the degree of complexity and co‐creation that they offer their customers.

The originality of the paper rests in explaining customer decision‐making uncertainty in relation to complexity and co‐creation. Thus, it sheds light on the dark side of co‐creating market offerings.

The diversity of the health care sector makes it difficult to come up with managerially useful generalizations concerning marketing practice in health care organizations. Develops specific categories of health care offerings and proposes a two‐by‐two matrix for classifying health care offerings based on customer participation and complexity of the health care offering. In each quadrant, offers strategic marketing insights into how the nature of the health care offering might affect the marketing task. Uses network theory as the guiding framework in constructing the health care classification schema.