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There is general agreement among researchers and practitioners that satisfaction is relative to competitive alternatives. Nonetheless, researchers and managers have not treated satisfaction as a relative construct. The result has been weak relationships between satisfaction and share of wallet in the literature, and challenges by managers as to whether satisfaction is a useful predictor of customer behavior and business outcomes. The purpose of this paper is to explore the best approach for linking satisfaction to share of wallet.

Using data from 79,543 consumers who provided 258,743 observations regarding the brands that they use (over 650 brands) covering 20 industries from 15 countries, various models such as the Wallet Allocation Rule (WAR), Zipf-AE, and Zipf-PM, truncated geometric model, generalization of the WAR and hierarchical regression models are compared to each other.

The results indicate that the relationship between satisfaction and share of wallet is primarily driven by the relative fulfillment customers perceive from the various brands that they use (as gauged by their relative ranked satisfaction level), and not the absolute level of satisfaction.

The findings provide practical insight into several easy-to-use approaches that researchers and managers can apply to improve the strength of the relationship between satisfaction and share of wallet.

This research provides support to the small number of studies that point to the superiority of using relative metrics, and encourages the adoption of relative satisfaction metrics by the academic community.

The purpose of this paper is to identify the metrics used in the literature to measure social issues in sustainable supply chains.

A systematic literature review was conducted to identify peer-reviewed articles containing metrics pertaining to social issues in the supply chain. A structured content analysis of each identified article was conducted to extract the metrics. This analysis provided a basis for a frequency analysis to determine how often the various metrics appeared in the literature. The metrics were also analyzed to determine whether they: simultaneously addressed the other areas of the triple bottom line, namely, environmental and/or economic issues; were quantitative or qualitative metrics; and could be classified as absolute, relative or context-based metrics.

A total of 53 unique metrics were identified. The analysis of the results showed that a limited number of environmental (3 metrics) and economic (11 metrics) issues were addressed by the metrics as well. A combination of quantitative (39.6 per cent) and qualitative (60.4 per cent) measurements were used. The vast majority of the metrics (90.6 per cent) were further classified as absolute metrics.

This paper presents one of the first in-depth analyses of metrics used to measure social issues in supply chains. This is important because social issues are often overlooked in research focused on performance measurement in sustainable supply chains.

The purpose of this paper is to introduce an alternative novel approach to measurement of customer perceptions of the service experience that links closely with customer loyalty outcomes.

This conceptual paper draws upon prior theory and empirical research to investigate the relevance of using relative metrics compared to absolute metrics in service research.

The findings upon which this paper draws upon show that measuring customer satisfaction, likelihood to recommend, brand preference using absolute metrics explain a very small per cent of the variance in key customer outcome measures such as share of wallet. Instead, a relative approach to these and other measures in service research is proposed.

Although business practice has embraced relative measurement much more extensively than has scientific research, the vast majority of customer experience measurement programs today continue to employ absolute measures resulting in suboptimal allocation of firm resources. This paper is a call to rethink these current measurement practices.

It is one of the first papers to argue for changing the widely employed use of absolute metrics in theory and practice in favor of relative metrics. Application to other service research theories is discussed.

This research is based on the premise that current metrics for search engine advertising (SEA) are misleading and do not sufficiently allow managers to evaluate traffic and conversions simultaneously. This study aimed to conceptually develop and assess conversion potential (CvP) as a unifying construct for both measuring and evaluating the performance of SEA campaigns.

A data set of nearly seven million records covering almost three years of a multi-million-dollar keyword marketing campaign from a major US retailer was used to validate the construct of CvP.

Results empirically validate how CvP measures both campaign traffic and sales in SEA, using the optimization factor of ad rank, which is one of many possible factors.

Although the data set is large and covers a lengthy period of time, it is limited to one company in the retail sector.

The research instantiates CvP as a metric for overall SEA account performance while demonstrating that it is a practical tool for future campaign planning. The metric simultaneously incorporates a sales ratio and a traffic ratio.

This is the first study to formalize and provide a working definition of CvP in the academic literature. The contribution is a theoretical and practical managerial framework to mutually evaluate, measure and make decisions about SEA efforts.

The satisfaction and loyalty research argues that customer satisfaction is an antecedent to share of wallet (SOW). The double jeopardy view, however, argues that satisfaction and SOW levels are driven exclusively by penetration levels. Customer satisfaction and penetration, however, are not always positively related. The purpose of this paper is to explore the relevance and validity of these two divergent perspectives to creating growth in customer share of spending.

The authors examine a series of models evaluating the impact of both the relative penetration of a brand, and the satisfaction ratings of its customers on SOW using data covering 11 industry sectors, 188 brands, and 4,263 customers.

The authors find that part of the problem in reconciling these two views has been in how satisfaction is measured and analyzed. When using absolute satisfaction ratings of the firm/brand, the explanatory power of satisfaction on SOW is very weak at both the individual and firm level. When using satisfaction metrics relative to other competing brands, however, satisfaction is a strong predictor of customers’ share of category spending.

As predicted by double jeopardy, penetration is a strong predictor of firm-level SOW, but has almost no explanatory power at the individual level.

Managers need to focus on both improving penetration/reach and becoming the preferred brand in a customer’s usage set.

The research examines if (and if yes, how) satisfaction and penetration contribute to customers’ SOW allocations both at the individual and brand level.

The purpose of this paper is to assess whether Global Reporting Initiative (GRI) reporting has any direct and positive impact on environmental sustainability performance, and more specifically on CO₂ emissions of the reporting companies.

The authors analyze the CO₂ emissions data from 40 A-level GRI-reporting companies, over a period of six years and across five industry sectors, comparing them with a control group of 24 non-reporting companies, to assess any direct impact of reporting on emissions. Using one-way analysis of variance statistical analysis, the authors perform a cross-industry analysis of the five-year cumulative change in absolute emissions and emissions intensity for both groups of companies from 2008 to 2012.

The authors find that for both metrics, the p-value between the two groups of companies far exceeds the threshold of 0.05, hence strongly favouring the “null hypothesis” that there is no correlation between GRI-reporting and sustainability improvement. More specifically, the authors find that the mean of the five-year cumulative change for the GRI group is an actual increase of about 6 percent in absolute emissions and a decrease of 15 percent emissions intensity, while the mean for non-GRI entities shows a decrease of about 3 percent and a decrease of 17 percent in absolute emissions and emission intensity, respectively.

The authors are limited by the small sample of companies that have five or more years of reliable reporting of CO₂ emissions at Scopes 1 and 2. Nonetheless, a normality test shows that the sample size is sufficiently representative of the entire population.

The lack of any correlation between GRI reporting, which often consists of the lion share of corporate social responsibility (CSR) investment, and any material improvement in CO₂ performance, suggests that the current CSR strategies are futile as far as environmental sustainability is concerned, and hence need to be drastically modified.

This work is the first of its kind to investigate quantitatively, and using rigorous statistical methods, the correlation between GRI reporting and carbon emissions performance.

The purpose of this study is to evaluate the efficiency of the relative performances of Mother’s canteen across the regions of Tamil Nadu and find out the determinants of inefficiencies in the scheme.

An untargeted food security scheme called Amma (Mother's) canteen was started in Tamil Nadu, India, with an aim to provide the urban poor with hygienic and healthy food at an affordable price. Along with secondary data, interviews were conducted to understand the operational details of Mother's canteen. Data envelopment analysis (DEA) was used to find the relative efficiency of the scheme operated by nine corporations.

Based on the daily expenditure, number of meals served and revenue, seven of nine corporations were found to be inefficient. Further, sensitivity analyses found that among six procurement variables, procurement (quantity and price) of black gram and cooking oil were determinants of inefficiency.

As an untargeted scheme, the cost of delivering service-based evaluation was used for performance evaluation. Policymakers could use centralized procurement instead of open market procurement at the corporation level and standardized ingredients' usage (quantity) to further reduce the cost of the food security scheme.

The proposed DEA model may be used by policymakers to empirically evaluate the food security scheme's delivery effectiveness across various corporations in a region. Inefficient branches are identified here with empirical support for further performance improvement changes.

There are limited number of studies evaluating untargeted schemes. This paper presents the challenges of evaluating an untargeted scheme which allows self-selection of beneficiaries. The outcome of this study will help in identifying inefficient corporations, and further, improve the performance and cost of delivering untargeted food security scheme.

This paper aims to identify a possible mismatch between the theory found in academic research and the practices of investment managers in Brazil.

The chosen approach is a field survey. This paper considers 78 survey responses from 274 asset management companies. Data obtained are analyzed using independence tests between two variables and multiple regressions.

The results show that most Brazilian investment managers have not adopted current best practices recommended by the financial academic literature and that there is a significant gap between academic recommendations and asset management practices. The modern portfolio theory is still more widely used than the post-modern portfolio theory, and quantitative portfolio optimization is less often used than the simple rule of defining a maximum concentration limit for any single asset. Moreover, the results show that the normal distribution is used more than parametrical distributions with asymmetry and kurtosis to estimate value at risk, among other findings.

This study may be considered a pioneering work in portfolio construction, risk management and performance evaluation in Brazil. Although academia in Brazil and abroad has thoroughly researched portfolio construction, risk management and performance evaluation, little is known about the actual implementation and utilization of this research by Brazilian practitioners.

The paper's purpose is to show that the reported (and growing) labour productivity gap between the G7 and OECD countries and the USA might be a factor of the rapid adoption of shadow banking structures and techniques in the USA versus the adoption of those structures in OECD and G7 economies.

The paper explains the concept and practice of shadow banking and explores the ways in which the various conventions adopted distort reported productivity figures.

The growing adoption of shadow banking over the period 1974‐2007 has had the effect of increasing the metrics for labour productivity over the same period.

It is clear that those who wish to understand the apparent growing gap between labour productivity of the USA and other G7/OECD nations must look beyond the simple reported figures to identify the ways in which figures are calculated and reported.

The paper shows that reporting of figures to established conventions can be affected by a range of factors, not apparent from looking at those conventions themselves.

The purpose of this paper is to investigate the association between the purpose of a loan and the type of debt covenants, separated into balance sheet-based and income statement-based covenants.

Using private loan deal observations obtained from the DealScan database over the period between 1996 and 2013, the authors classify the sample loan deals into three categories based on the purpose of borrowing, namely, borrowings for corporate daily operating purposes, financing purposes and acquisition and investing purposes. The authors conduct multinomial logistic regression analysis to test the relationship between the choice of financial ratios in a debt covenant and the purpose of a loan, controlling for financing constraints and other factors that have been identified as important to debt covenant analysis in prior studies.

The results provide evidence that the purpose of the loan is significantly associated with the type of debt covenants, suggesting that the lender and the borrower have considered the loan purpose when structuring their debt agreements. More specifically, the results indicate that the loans borrowed to fund acquisitions or long-term investment projects are more likely to have income statement-based covenants and less likely to have balance sheet-based covenants. In contrast, the loans borrowed for corporate daily operating purposes or financing purposes are more likely to contain balance sheet-based covenants relative to income statement-based covenants.

The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency. The results are limited to the US market with its institutional structure. In future studies, it would be interesting to perform similar investigations on firms in other countries.

The findings contain important and economically significant implications indicating that loan lenders and borrowers agree to include different types of accounting information (that is, income statement- versus balance sheet-based financial ratios) in their loan covenants for different purpose loans.

Overall, the results provide important evidence regarding the connection between debt covenant structure and loan purpose. In doing so, it contributes to the literature on debt contract design (Dichev and Skinner 2002; Chava and Roberts 2008; Demerjian 2011; Christensen and Nikolaev 2012). Despite much interest in debt contract design, Skinner (2011) argues that there still exists incomplete knowledge of the economic factors that structure debt contracts. Income statement-based covenants depend on measures of profitability and efficiency and act as trip wires that transfer control rights to lenders when borrowing firms’ performance deteriorates. On the other hand, balance sheet-based covenants rely on information about sources and uses of capital and align interests between borrowing firms and lenders by restricting the borrower’s capital structure. The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency.

This study is the first to identify differences in trends over time for the use of income statement- and balance sheet-based covenants as it relates to different loan purposes. The authors build on prior research to examine the degree to which loan purpose is associated with the choice between income statement-based and balance sheet-based covenants.