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The purpose of this paper is to explore the key factors that affect consumer redemption intention toward mobile coupons recommended in social network sites (SNS).

A research model that integrates recommendation trust, positive utilities, and negative utilities of coupon redemption is developed. With the important role of trust in social recommendation taken into consideration, the key drivers of recommendation trust were analyzed in the model. Data were collected from 210 users with mobile coupon recommendation experience in one of the largest SNS (i.e. WeChat) in China. The authors used partial least squares technique to analyze the model.

Recommendation trust and positive utilities (economic benefits and perceived enjoyment) positively affect the intention of mobile coupon redemption. Perceived risk, as a negative utility, negatively influences coupon redemption intention. In addition, swift trust (structure assurance, perceived similarity, trust propensity, and expertise of the recommender), knowledge-based trust (familiarity with the retailers), and emotion-based trust (social tie strength) are key drivers that promote recommendation trust.

While prior research investigated mobile coupon redemption behavior in which coupons were issued by merchants, limited research analyzed consumer responses toward mobile coupons in social recommendation. This study examines the effects of recommendation trust, positive utilities, and negative utilities on mobile coupon redemption in the context of social recommendation and recognizes the key drivers of recommendation trust.

Mail‐in rebates are an oft used, but poorly understood mechanism to promote the purchase of a product. In particular, prior research suggests that a significant percentage of consumers who purchase a product intending to redeem an accompanying rebate, fail to do so – a phenomenon known as “slippage.” To date, however, there has been very little research designed to understand why this takes place. The authors here aim to propose that the presence of a rebate provides a consumer with the means to justify a preferred course of action. Specifically, when considering the purchase of a desired product that carries a rebate, consumers tend to generate scenarios of successful rebate redemption and fail to adequately account for things that can go wrong in the redemption process. As a result, they systematically overestimate their likelihood of rebate redemption.

The authors conduct three laboratory experiments to test the proposed framework.

Study 1 shows that consumers overestimate their redemption likelihood because they tend to generate scenarios of successful rebate redemption and fail to adequately account for things that can go wrong in the redemption process. In studies 2 and 3, it is found that this effect is moderated by the valence and strength of one's motivation to purchase the promoted product.

The authors propose a new psychological account to explain consumer responses to rebate offers, and in particular study the role of motivation and elaboration. The results suggest that managers could use rebates in situations where customers need a reason to purchase, and that rebates for hedonic products are best delivered at the point‐of‐purchase.

The purpose of this paper is to empirically analyze the investment and pension functions of housing reverse mortgages (HRM) with redemption option and raise the participation initiative of the Chinese elderly for the HRM model and enhance their cognition of this financial product.

Based on the perspective of the financial decisions of the elderly, this study designs an analysis model of the economic validity of HRM, and takes Shanghai (a pilot city for HRM loans in China) as an example, using data from the Shanghai real-estate index and market interest rates from January 1998 to December 2018, as well as the contract data of HRM, for empirical analysis.

The results show that the HRM with redemption option has the characteristics of European call option and can obtain the value of implicit option from the perspective of the elderly. Considering the present value of the accumulated pension income, the present value of the redemption option and the present value of the final housing value, the elderly can obtain investment income from HRM with redemption option. Therefore, for Chinese seniors, the HRM with redemption option has economic validity.

From the perspective of the demand of the elderly, participation in the HRM with redemption option can increase the life expectancy annuity for various pension expenditures and improve economic status while meeting the demand of inheritance motivation.

This study helps to clarify the financial decision-making process for elderly people who participate in HRM. On the one hand, it helps policy makers to optimize the implementation mode of HRM and promote the healthy and rapid development of HRM; on the other hand, it is conducive to raising the awareness of Chinese elderly people on this financial products and enhancing their enthusiasm for participating in HRM.

Few studies have directly analyzed the financial decision process of the HRM model from the perspective of the demand of the elderly. This study enriches the research viewpoint and method of HRM and accumulates data about the Chinese experience with HRM.

The purpose of this paper is to examine differing attitudinal characteristics (attitude and subjective norms) and perceptions of coupon characteristics (coupon value and coupon expiration date) towards coupon redemption based on psychological and demographic segments of consumers who may well differ in their purchase motivations and accompanying decision making.

Following a detailed literature review, the characteristics are examined by means of a structured questionnaire administered via “mall intercept” to a convenience sample in major shopping areas in Malaysia.

Following a variety of statistical tests, the findings support the use of coupon proneness, value consciousness, price consciousness and brand involvement as separate variables underpinning coupon usage propensity and indicated the value of coupons if used judiciously in relation to pre-identified segments.

The limitations associated with convenience sampling apply here, that is the findings cannot be generalised.

The basis for sound parameters for the use of coupons are of value to marketing management.

The paper offers an unique insight into coupon propensity and usage from a little-known economy. Its value lies in the degrees of support offered to findings from more advanced economies and a basis for differentiation in the Malaysian context.

The purpose of this paper is to investigate how a redemption reward program of credit card works in China. The study also seeks to assess Chinese credit card users' level of awareness about the reward‐point programs. Additionally, the factors affecting the redemption of reward points, one customer loyalty program used by many credit card issuers worldwide, are also identified.

A telephone survey and a followed regression analysis were conducted in five major cities in China with more than 400 samples.

Lack of awareness about the reward points programs and the redemption procedure was shown. Low customer awareness about point‐based reward programs and, not surprisingly, low redemption rates were also discovered. The important conditions positively affecting redemption of reward points were found to include awareness of the reward point program, a positive attitude about the incentives, and average frequency of credit card usage. Also, redemption rates were higher for cards that had been issued more recently. Moreover, redemption behaviors and credit card usage habits may be changed in time of financial crisis.

Awareness of reward points programs, redemption procedure, and benefits of redemption of reward points should be increased by better and more effective communication strategy, provided by credit card marketers, to customers or potential customers.

The lower‐middle class market segment in China is studied to provide background information regarding behavior towards credit card reward programs in the banking industry. Additional information is provided towards marketing managers who hold the responsibility of promoting their usage and rewards.

In 2009, US coupons set a new record of 367 billion coupons distributed. Yet, while coupon distribution is on the rise, redemption rates remain below 1 percent. This paper aims to show how recognizing context variables, such as proximity, weather, part of town and financial incentives interplay to determine a coupon campaign's success.

The paper reports an empirical study conducted in co‐operation with a restaurant chain: 9.880 Subway coupons were distributed under different experimental context conditions. Redemption behavior was analyzed with the help of logistic regressions.

It was found that even though proximity drives coupon redemption, city center campaigns seem to be much more sensitive to distance than suburban areas. The further away the distribution place from the restaurant, the less does the amount of monetary incentive determine the motivation to redeem.

When designing a coupon campaign for a company, coupon distribution should not follow a “one‐is‐good‐for‐all‐strategy” even for one marketer within one product category. Instead each coupon strategy should carefully consider contextual influence.

This paper is the first to the authors' knowledge that systematically investigates the impact of context variables on coupon redemption. It focuses on context variables that electronic marketing channels will be able to easily incorporate into personalized mobile marketing campaigns.

Over 15 years ago Goodwin created the first open-ended, non-traded real estate investment trust (REIT) with regular sales and redemptions at net asset value (“NAV REIT”). While NAV REITs are now well established, there is still room for improvement.

We traced the evolution of the NAV REIT’s innovative, investor-friendly features – transparent valuation to strike NAV, liquidity via redemption at NAV per share, indefinite life, lower/simpler selling and management fees, share classes with different upfront loads and trailing distribution fees.

To improve the liquidity feature of NAV REITs, share classes could be used to lower the drag on performance and match available liquid assets with expected redemption requests. The goal: balance inflows and outflows, optimize portfolio construction, and better safeguard liquidity.

One need not look far for the dark side of liquidity in open-ended real estate funds. The UK experience with regulated property funds is a painful object lesson. There is a better way: while traditional non-traded REITs were designed and marketed for investment by retail investors, NAV REITs appeal to a diverse range of investors, and share classes could be enhanced to offer both a menu of selling loads and a menu of liquidity and dividend-rate options to produce a smooth curve blending cost and time.

Innovation in structuring real estate investment vehicles has broadened choices for all and the NAV REIT is flexible, scalable, open-ended and cost-efficient. Fund sponsors, fund managers, financial advisors, investors and even regulators could find food for thought in our analysis.

The purpose of this paper is to uncover common and outdated misconceptions about couponing and present new, updated strategies that can improve redemption statistics.

ICOM sought to understand the landscape of couponing by examining data from a 20‐year database compiled through the course of designing 6,300 targeted direct mail programs and issuing 425 million coupons to 28 million US and Canadian households that voluntarily provide information about purchasing preferences.

The paper exposes important information about current consumer behavior with regards to coupons and coupon redemption. The research identifies a “sweet spot” which, when coupon value and expiration length criteria sync, creates perfect conditions and drives coupon redemption.

Marketers must rethink coupon campaign strategies to accommodate the changing consumer and couponing market. This paper offers straightforward recommendations for altering approach.

The paper provides a fresh profile of the couponing market and variable drivers of consumer redemption, derived from an unprecedented amount of consumer data gathered over an extended period of time.

This paper aims to identify the factors affecting the redemption of reward points, a form of customer loyalty program used by many Chinese credit card issuers. In addition it also assesses Chinese credit card users' level of awareness about the reward‐point programs.

A total of 401 telephone surveys were conducted in five major cities in China in 2007. Regression analysis was also conducted in the exploratory study.

Results show both low customer awareness about point‐based reward programs and, not surprisingly, low redemption rates. More specifically, lack of awareness about the reward points programs and the redemption procedure was shown. The important conditions positively affecting redemption of reward points were found to include awareness of the reward point program, a positive attitude about the incentives, and average frequency of credit card usage. Also, redemption rates were higher for cards that had been issued more recently.

The paper suggests that credit card marketers could communicate with their customers more effectively in order to spread and reinforce awareness about point‐based reward programs and encourage them to experience their benefits.

The study provides an original insight into an important element of consumer behavior with credit card reward programs in the banking industry serving a lower‐middle‐income segment in a developing region such as China. Guidance is also offered for marketing managers responsible for promoting credit card usage and reward programs.

This study tests empirically the impacts that the issue and redemption of index-typed ELS has on KOSPI200 & KOSPI200 Future Index and the performance of ELS redemption by using daily stock market data of year 2010-2015. The first one of research results is that net amount of ELS issue has significantly negative (-) effect on KOSPI200 Index and KOSPI200 Future Index, which ascertains that the amount of ELS issue becomes larger as KOSPI200 Index gets lower. It shows that index-typed ELS has reverse-hedging effect while underlying stock-typed ELS has hedging effect. This phenomenon seems to have arisen in the complex conditions of ELS structural traits and vulnerable situations of security market where KOSPI Index has moved up and down with in-box pattern and KOSPI200 trading volume and KOSPI200 Future trading amount & volume have been decreasing consistently. Second result is that ELS performance in advanced redemption fund (principal non-guarantee type) shows the fact that return of private equity fund has been significantly 0.37% higher than that of public offering fund, while performance in maturity redemption fund (principal guarantee type) shows the fact that return of public offering fund has been significantly 1.26% higher than that of private placement. Considering of the meager difference of return in advanced redemption fund and the higher return of public offering fund in maturity redemption fund, we can infer that efficiency of ELS market would leave no information asymmetry by the difference between the fund-raising types.