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This study is a pioneer in the academic literature to investigate the relationship between Valentine’s Day and stock market returns of major economies around the world.

Specific control variables for Valentine's Day are introduced to eliminate the potential influence of other effects.

The findings indicate that stock returns are higher on the days when Valentine's Day is approaching than on other days for most cases, showing “the Valentine Effect” in the stock market.

Unlike other holiday effects in the previous literature, the Valentine's Day effect cannot be explained by many conventional theories, such as tax-loss selling and the inventory adjustment hypothesis.

The use of air cargo by low-income countries and the effects of freight charges on their export flows are described. This is accomplished by illustrating the difference between export flows from developing countries of perishable products and high-tech goods. Descriptive statistics are used to highlight the importance of trade that travels by air from these countries to the United States and the European Union. Subsequently, costs of air freight are estimated. A gravity model of trade measures the effect of these costs on export flows. Major institutional and regulatory constraints that may be halting additional trade that relies on air transportation, and the implications for economic growth, are identified.

The Saint Valentine's Decree (1984) and the ensuing hard‐fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa (1993). Since then, following new corporatist principles, a national system of centralised wage bargaining (concertazione) and so‐called “institutional indexation” have governed the determination of wages. Does incomes policy generate greater coordination in the process of wage formation? Does it cause greater co‐movement of wages, prices, labour productivity and unemployment? This paper aims to answer these questions with reference to one of the G8 economies.

After testing for unit root each component by using the ADF, Phillips and Perron, DF‐GLS and Zivot and Andrews statistics, the paper tests for co‐integration the so‐called WPYE model using different methods. The Engle and Granger approach is used to assess the impact of incomes policy on the speed of adjustment of real wages, productivity (and unemployment) to their equilibrium value, while the Gregory and Hansen procedure serves as a means to endogenously detect the presence of a regime shift. The paper estimates coefficients before and after the structural break.

Incomes policy based on the 1993 Protocol has caused a regime shift in the process of wage determination. The long‐run estimates of the WPYE model do not generate stationary residuals except when a dummy for 1993 is added. The share of wages over GDP reduces by about ten percentage points in the early 1990s and has stood at about 57 per cent since 1995. The link with productivity is close to one‐to‐one only before the break. The feedback mechanism, as measured by the coefficient of lagged residuals in short‐run estimates, is increased from −0.46 in the pre‐reform to −0.79 in the post‐reform period, suggesting that incomes policy has increased real wage flexibility indeed. In recent years the link between real wages and (very low) labour productivity growth has weakened. In a sense, incomes policy has introduced a new form of (upward) wage rigidity. Last but not least, incomes policy has changed the correlation with the unemployment rate from positive to not statistically significant.

Future developments will focus on disentangling the impact of incomes policy vis‐à‐vis other policy interventions on WPYE and on unemployment.

The analysis calls for a careful revision of the 1993 Protocol aimed at better protecting the purchasing power of real wages without losing control on inflation, and introducing growth‐generating mechanisms.

The paper studies the impact of incomes policy on WPYE and the Phillips curve by means of co‐integration and structural break analysis. It proposes to interpret the effect of incomes policy on the Phillips curve as changing the coefficient of the error correction mechanism that leads real wages to their long‐run equilibrium value.

This paper aims to investigate factors affecting the relationship between consumers’ brand trust and purchase intentions after exposure to targeted mobile app ads during holiday periods, including the mediating roles of consumers’ ad attitudes, different discount levels and their interactions; and the moderating roles of the anticipated gain (loss) (i.e. access to discounts) associated with mobile app usage (non-usage).

Data were collected from 559 respondents who were randomly assigned to six groups based on a 2 (ad type: new, holiday-themed vs regular product) × 3 (promotion level: 0% vs 20% vs 40%) between-subjects design. Regression analysis and structural equation modeling techniques are used to test the hypothesized mediators and moderators.

Consumers with high brand trust are likely to purchase both new and regular products. Consumers with low brand trust are most responsive to mobile app ads for regular products when offered a high discount. Ad attitudes across all discount rates and product types mediate the relationship between brand trust and purchase intentions; the anticipated gain associated with using a mobile app (i.e. access to discounts) moderates the effect of attitudes toward ads promoting regular products when a high discount is offered.

To the best of the author’s knowledge, this is one of the first studies to explore how interactions among important factors in contexts involving mobile apps and holiday promotions influence and mediate the relationship between brand trust and purchase intentions. This study also reveals an important boundary condition that moderates consumers’ responses to targeted mobile app ads in the context of holiday marketing.

Moral intensity is the degree of feeling we have about the consequences of moral choices, similar, for example, to those perceived for crimes, from petty larceny to murder. Moral intensity is thought to increase moral sensitivity and judgment. Because the accounting professions require members to respond to accounting fraud with more sensitivity and intensity, we examine this response in 220 professional accountants (mostly Certified Public Accountants) under a controlled experiment using two different cases. We examine the first three parts of the Rest (1986) model including ethical evaluation, judgment, and intention to act. We measure moral intensity in the accountant’s perception of overall harm and societal pressure. As in prior research, we find that the degree of moral intensity may be contextual. We find that the ethical evaluations may become affected by perceived overall harm, and whistleblowing intentions by perceived societal pressure. However, in both cases, the professional’s judgments are most affected by moral intensity. Consistent with prior research, whistleblowing intentions may involve many other mitigating variables, such as audit reporting or non-audit reporting limited by codes of conduct. These findings relate to the increasing attention paid by the SEC to finding accounting fraud.

This manuscript makes three important contributions to the existing literature. First, there are few studies in this area and Jones (1991) identifies that moral intensity is issue contingent; therefore, replication studies using different scenarios are needed. Second, Bailey, Scott, and Thoma (2010) have suggested that accounting ethics research has focused too narrowly on Component II of Rest’s Four-Component Model. None of the previous studies looked at all three steps in Rest’s Model; therefore, our manuscript provides an important contribution over the other previous studies. Third, our sample uses professionals and not students as surrogates for professionals.

This study examines whether Revenue Procedure 2003-61 is an improvement over Revenue Procedure 2000-15, in the areas of taxpayers’ expectations for IRS equitable relief decisions and gender-related in-group bias. The survey instrument includes a vignette adapted from a judicial decision. The results show that Rev. Proc. 2003-61 does improve upon Rev. Proc. 2000-15. Furthermore, taxpayers perceive different expectations of what the IRS should do and what the IRS would do in equitable relief decision making. Also, gender-related in-group biases are found to be present for both genders. Tax policy implications regarding equitable relief are discussed.

The purpose of this study if to investigate the effects of show windows on shopping behaviour among female consumers to provide insights that a manager can use to encourage purchase behaviour.

On the basis of 20 in-depth interviews, we developed a survey, which we administered to female consumers (n = 209). The survey was based on a stimulus–organism–response framework. Each respondent was exposed to an image of a show window (images were taken from apparel departments of well-known department stores) and rated her perceptions of the window and intentions to purchase items sold in the store.

Using factor analysis, we identify five components of the show window: social, hedonic, informational, image and “feel-good” factors. The first four factors are aggregated into a “show window” metric, which is shown to influence purchase intentions; this influence is fully mediated by the feel-good factor. The image factor and the social and hedonic factors each significantly influence the feel-good factor.

When developing show windows, brand managers should aim to touch on all factors of the show window to make shoppers “feel good”; these positive feelings might intensify shoppers’ purchase intentions.

This study identifies five factors that make up consumers’ perceptions of show windows. It shows that exposure to a show window affects consumers’ purchase intentions, and that this influence is determined primarily by the extent to which consumers “feel good” about the store.

Few studies have explored the direct influence of social networking websites (SNWs), and to the best of our knowledge, none have examined the indirect influence of SNWs on users and how that indirect influence leads to word‐of‐mouth related behaviors in SNWs. This study employs the theoretical framework of the third‐person effect theory, which is grounded in psychology, to examine the indirect influence of SNWs and how that indirect influence may potentially contribute to marketing research and practice. Davison’s (1983) third‐person effect (TPE) theory proposes that individuals tend to expect mass media to have a greater effect on others than on themselves. After the analysis of survey data, the current research first explores whether a third‐person effect exists in the SNW context and if it does, how it differs from that in traditional media context. Based on theory and numerous empirical findings, the current research also investigates how the thirdperson effect varies with different referent “others”. Finally, based on the theoretical propositions of previous studies, this study links third‐person effect to behavioral consequences related to word‐of‐mouth communication via SNWs. The results support all hypotheses. This work contributes to consumer psychology and word‐of‐mouth communication research, and generates implications for marketers targeting young consumers and/or those interested in stimulating word‐of‐mouth communication in the SNW context. Limitations are also addressed.

The gift-giving literature has documented several cases in which givers and recipients do not see eye-to-eye in gift-giving decisions. To help integrate this considerable segment of the gifting literature, this paper aims to develop a social norms-based framework for understanding and predicting giver-recipient asymmetries in gift selection.

Five experimental studies test the hypotheses. Participants in these studies evaluate gifts used in previous research, choose between gifts as either gift-givers or gift-recipients, and/or indicate their level of discomfort with choosing different kinds of gifts. The gifts vary in ways that allow the authors to test the social norms-based framework.

Gift-giving asymmetries tend to occur when one of the gifts under consideration is less descriptively, but not less injunctively, normative than the other. This theme holds for both asymmetries recorded in the gift-giving literature and novel ones. Indeed, the authors document new asymmetries in cases where the framework would expect asymmetries to occur and, providing critical support for the framework, the absence of asymmetries in cases where the framework would not expect asymmetries to emerge. Moreover, the authors explain these asymmetries, and lack thereof, using a mechanism that is novel to the literature on gift-giving mismatches: feelings of discomfort.

This research has multiple theoretical implications for the literatures studying gift-giving and social norms. A limitation of this work is that it left some (secondary) predictions of its model untested. Future research could test some of these predictions.

Billions of dollars are spent on gifts each year, making gift-giving a research topic of great practical importance. In addition, the research offers suggestions to consumers giving gifts, consumers receiving gifts, as well as marketers.

The research is original in that it creates a novel framework that predicts both the presence and absence of gift-giving asymmetries, introduces a psychological mechanism to the literature on giver-recipient gift choice asymmetries, and unifies many of the mismatches previously documented in this literature.