This study clarifies the concept of customer equity in today's social media landscape. The study shows: (1) motivation to use social network services (SNS) and celebrity source credibility positively ...affect parasocial relationships; (2) parasocial relationships positively affect attitudes toward using SNS; (3) parasocial relationships positively affect customer equity drivers; and (4) customer equity drivers positively affect customer lifetime value. A survey of 350 social media users recruited from Hong Kong and Macau in China is used to investigate key questions about parasocial relationships, customer equity drivers, and customer lifetime value. The theoretical model for customer equity in the social media context offers implications for marketing practitioners.
The role of the National Health Service (NHS) and relevant national executive agencies in relation to testing capacity, availability of personal protective equipment (PPE), the cancellation and ...postponement of many aspects of routine care, and decisions around discharge from hospital to care homes should also be critically examined. ...improve resource management across health and care at national, local, and treatment levels. ...develop a sustainable, skilled, and fit for purpose health and care workforce to meet changing health and care needs. ...improve integration between health care, social care, and public health and across different providers, including the third sector (ie, charity and voluntary organisations).
Academic research relies extensively on macroeconomic variables to forecast the U.S. equity risk premium, with relatively little attention paid to the technical indicators widely employed by ...practitioners. Our paper fills this gap by comparing the predictive ability of technical indicators with that of macroeconomic variables. Technical indicators display statistically and economically significant in-sample and out-of-sample predictive power, matching or exceeding that of macroeconomic variables. Furthermore, technical indicators and macroeconomic variables provide complementary information over the business cycle: technical indicators better detect the typical decline in the equity risk premium near business-cycle peaks, whereas macroeconomic variables more readily pick up the typical rise in the equity risk premium near cyclical troughs. Consistent with this behavior, we show that combining information from both technical indicators and macroeconomic variables significantly improves equity risk premium forecasts versus using either type of information alone. Overall, the substantial countercyclical fluctuations in the equity risk premium appear well captured by the combined information in technical indicators and macroeconomic variables.
Data, as supplemental material, are available at
http://dx.doi.org/10.1287/mnsc.2013.1838
.
This paper was accepted by Wei Jiang, finance.
Purpose
This study aims to use social exchange theory and the principle of reciprocity in proposing a theoretical model to examine the essential but unexplored unique roles of individual customer ...equity drivers (CEDs) and their contribution to brand loyalty. This study identifies a reciprocity pathway in that brand equity, which mediates the linkage between relationship equity and brand loyalty. This study further posits that the linkage between relationship equity and brand equity is contingent on value equity. The authors then incorporate value equity as a moderator upon which the interrelationships among CEDs and brand loyalty may vary.
Design/methodology/approach
A sample consisted of 2,268 shoppers in a metropolitan city in Vietnam.
Findings
Relationship equity significantly determines brand loyalty through the moderating effect of value equity and the mediating effect of brand equity. Interestingly, these relationships are diverse across different experiential types of consumers.
Research limitations/implications
This study contributes to a better understanding of why and when value equity, brand equity and relationship equity trigger brand loyalty. Brand equity and value equity are the two underlying mechanisms that establish a moderated mediation model between CEDs and brand loyalty. The findings of this study show that experiential consumers are not created equals. The strength of the relationships between CEDs and brand loyalty differ among the five clusters of experiential consumers.
Practical implications
This study reveals the critical relationships between the three components of customer equity in the supermarket industry. The findings provide concrete direction for managers and marketers to be more effective in allocating resources, tailoring their marketing strategies and, accordingly, promoting brand loyalty of different types of consumers.
Originality/value
This study reveals the underlying modus operandi that explains the reciprocity effects of CEDs and the contingency role of brand experience on the CEDs–loyalty link. This study shows that brand equity fosters and sustains the reciprocity generated when consumers perceive a high level of relationship equity, serving as a mediator between relationship equity and brand loyalty. Importantly, value equity is an important moderator for strengthening this reciprocity effect. Furthermore, this study identifies a typology of experience-focussed consumers and shows that the CEDs–loyalty link significantly varies by these types of experiential appeal that characterise the consumers.
Private Equity, Jobs, and Productivity Davis, Steven J.; Haltiwanger, John; Handley, Kyle ...
The American economic review,
12/2014, Letnik:
104, Številka:
12
Journal Article
Recenzirano
Odprti dostop
Private equity critics claim that leveraged buyouts bring huge job losses and few gains in operating performance. To evaluate these claims, we construct and analyze a new dataset that covers US ...buyouts from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments before and after acquisition, comparing to controls defined by industry, size, age, and prior growth. Buyouts lead to modest net job losses but large increases in gross job creation and destruction. Buyouts also bring TFP gains at target firms, mainly through accelerated exit of less productive establishments and greater entry of highly productive ones.
The growth of the private equity industry has spurred concerns about its impact on the economy. This analysis looks across nations and industries to assess the impact of private equity on industry ...performance. We find that industries where private equity funds invest grow more quickly in terms of total production and employment and appear less exposed to aggregate shocks. Our robustness tests provide some evidence that is consistent with our effects being driven by our preferred channel.
This paper was accepted by Amit Seru, finance
.
Social Media and Firm Equity Value Luo, Xueming; Zhang, Jie; Duan, Wenjing
Information systems research,
03/2013, Letnik:
24, Številka:
1
Journal Article
Recenzirano
Companies have increasingly advocated social media technologies to transform businesses and improve organizational performance. This study scrutinizes the predictive relationships between social ...media and firm equity value, the relative effects of social media metrics compared with conventional online behavioral metrics, and the dynamics of these relationships. The results derived from vector autoregressive models suggest that social media-based metrics (Web blogs and consumer ratings) are significant leading indicators of firm equity value. Interestingly, conventional online behavioral metrics (Google searches and Web traffic) are found to have a significant yet substantially weaker predictive relationship with firm equity value than social media metrics. We also find that social media has a faster predictive value, i.e., shorter "wear-in" time, than conventional online media. These findings are robust to a consistent set of volume-based measures (total blog posts, rating volume, total page views, and search intensity). Collectively, this study proffers new insights for senior executives with respect to firm equity valuations and the transformative power of social media.
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