Pub Date : 2024-04-24DOI: 10.1177/00222429241253193
Verena Gruber, Jonathan Deschênes
The non-profit sector is home to some of the most recognized and trustworthy brands, all competing for financial resources and volunteers. Akin to consumers, volunteers entertain relationships with non-profit brands. These relationships have recently become more diverse as individuals increasingly look for more ephemeral and distant forms of involvement. Drawing on an extensive qualitative dataset of the Vienna Red Cross comprising participant observation, archival data, and in-depth interviews, the authors conceptualize this non-escalating, episodic engagement as a neither-growing-nor-fading (NGNF) relationship. This theorization adds to the literature on consumer–brand relationships, which has predominantly focused on the cultivation of strong relationships. Informed by practice theory, the authors elaborate distinct brand relationship practices key to successfully maintaining NGNF relationships (acquiring and activating) while catering to volunteers following the traditional path of relationship intensification (building and cultivating). The analysis identifies constellations of practice elements conducive to managing both types of brand relationships in a symbiotic manner. The authors argue for the importance of moving beyond an exclusive focus on relationship growth and embracing non-escalating relationships. This study thus contributes to nascent theorizing on brand relationships that do not follow an axiology valuing growth and intensification.
{"title":"EXPRESS: Managing Brand Relationship Plurality: Insights from the Non-profit Sector","authors":"Verena Gruber, Jonathan Deschênes","doi":"10.1177/00222429241253193","DOIUrl":"https://doi.org/10.1177/00222429241253193","url":null,"abstract":"The non-profit sector is home to some of the most recognized and trustworthy brands, all competing for financial resources and volunteers. Akin to consumers, volunteers entertain relationships with non-profit brands. These relationships have recently become more diverse as individuals increasingly look for more ephemeral and distant forms of involvement. Drawing on an extensive qualitative dataset of the Vienna Red Cross comprising participant observation, archival data, and in-depth interviews, the authors conceptualize this non-escalating, episodic engagement as a neither-growing-nor-fading (NGNF) relationship. This theorization adds to the literature on consumer–brand relationships, which has predominantly focused on the cultivation of strong relationships. Informed by practice theory, the authors elaborate distinct brand relationship practices key to successfully maintaining NGNF relationships (acquiring and activating) while catering to volunteers following the traditional path of relationship intensification (building and cultivating). The analysis identifies constellations of practice elements conducive to managing both types of brand relationships in a symbiotic manner. The authors argue for the importance of moving beyond an exclusive focus on relationship growth and embracing non-escalating relationships. This study thus contributes to nascent theorizing on brand relationships that do not follow an axiology valuing growth and intensification.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140643183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-22DOI: 10.1177/00222429241252842
Michelle E. Daniels, Freeman Wu
Presumably in an effort to reduce cyberbullying and promote mental health, online influencers often limit viewers’ ability to post comments. In this research, we find that influencers incur significant interpersonal and professional repercussions for doing so. Across a Twitter dataset and six experiments utilizing both consequential and hypothetical dependent measures, we find that consumers form more negative impressions of and are less persuaded by influencers who disable social media comments. These outcomes are driven by the perception that the influencer is less receptive to consumer voice (e.g., consumers’ thoughts, opinions, and suggestions) and, thus, less sincere. However, we find that this effect is mitigated in situations where consumers feel that it is reasonable for influencers to prioritize self-protection.
{"title":"EXPRESS: No Comments (from You): Understanding the Interpersonal and Professional Consequences of Disabling Social Media Comments","authors":"Michelle E. Daniels, Freeman Wu","doi":"10.1177/00222429241252842","DOIUrl":"https://doi.org/10.1177/00222429241252842","url":null,"abstract":"Presumably in an effort to reduce cyberbullying and promote mental health, online influencers often limit viewers’ ability to post comments. In this research, we find that influencers incur significant interpersonal and professional repercussions for doing so. Across a Twitter dataset and six experiments utilizing both consequential and hypothetical dependent measures, we find that consumers form more negative impressions of and are less persuaded by influencers who disable social media comments. These outcomes are driven by the perception that the influencer is less receptive to consumer voice (e.g., consumers’ thoughts, opinions, and suggestions) and, thus, less sincere. However, we find that this effect is mitigated in situations where consumers feel that it is reasonable for influencers to prioritize self-protection.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140635898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1177/00222429241249424
Wenshu Zhang, Jia Li, Subramanian Balachander
This research studies sales force incentive compensation in Brand-Managed Retail (BMR) operations, which are particularly prevalent in high-end department stores and vertically integrated retailers. In particular, the research explores how a brand’s strength may affect the relative benefit to a brand from using individual versus group incentives for motivating its salespeople in BMR settings. The authors investigate this issue using a theoretical principal-agent model consisting of a risk-neutral firm employing multiple risk-averse salespeople. Interestingly, they find that a group incentive is more beneficial to a weaker brand than to a stronger one. Furthermore, the authors find empirical support for their theoretical findings from an analysis of sales compensation data from BMR operations in two different settings. The research findings suggest that managers should factor in the brand’s strength when deciding on the optimal salesperson compensation structure in BMR settings.
{"title":"EXPRESS: Group or Individual Sales Incentives? What Is Best for Brand-Managed Retail Sales Operations?","authors":"Wenshu Zhang, Jia Li, Subramanian Balachander","doi":"10.1177/00222429241249424","DOIUrl":"https://doi.org/10.1177/00222429241249424","url":null,"abstract":"This research studies sales force incentive compensation in Brand-Managed Retail (BMR) operations, which are particularly prevalent in high-end department stores and vertically integrated retailers. In particular, the research explores how a brand’s strength may affect the relative benefit to a brand from using individual versus group incentives for motivating its salespeople in BMR settings. The authors investigate this issue using a theoretical principal-agent model consisting of a risk-neutral firm employing multiple risk-averse salespeople. Interestingly, they find that a group incentive is more beneficial to a weaker brand than to a stronger one. Furthermore, the authors find empirical support for their theoretical findings from an analysis of sales compensation data from BMR operations in two different settings. The research findings suggest that managers should factor in the brand’s strength when deciding on the optimal salesperson compensation structure in BMR settings.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140551936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-21DOI: 10.1177/00222429241244804
Andre Martin, Tarun Kushwaha
Myopic marketing spending—curtailing marketing and research and development expenses to boost earnings—damages firms’ long-term value. Despite this, Top Management Teams (TMTs) are often myopic and by the time investors or boards detect such short-termism, it is too late to react or intervene. This research introduces a novel prediction method by analyzing the language TMTs use in earnings’ calls, specifically focusing on marketing and earnings emphasis, to predict future instances of myopic marketing spending. Through linguistic dependency parsing of almost 11 million sentences extracted from nearly 25,000 quarterly earnings call transcripts of 1,197 firms between 2008–2019, we demonstrate the proposed approach can predict myopic marketing spending at a quarterly frequency for up to one year in advance. We find that one standard deviation increase in earnings emphasis is associated with 23.68% increase in the likelihood of future myopic marketing spending. Investments based on the proposed approach produce 1.61% additional annual abnormal returns compared to models that exclusively use known predictors of myopic marketing spending, while offering earlier foresight and more frequent opportunities for interventions. This reduces information asymmetry for investors and boards of directors.
{"title":"EXPRESS: Can Words Speak Louder than Actions? Using Top Management Teams’ Language to Predict Myopic Marketing Spending","authors":"Andre Martin, Tarun Kushwaha","doi":"10.1177/00222429241244804","DOIUrl":"https://doi.org/10.1177/00222429241244804","url":null,"abstract":"Myopic marketing spending—curtailing marketing and research and development expenses to boost earnings—damages firms’ long-term value. Despite this, Top Management Teams (TMTs) are often myopic and by the time investors or boards detect such short-termism, it is too late to react or intervene. This research introduces a novel prediction method by analyzing the language TMTs use in earnings’ calls, specifically focusing on marketing and earnings emphasis, to predict future instances of myopic marketing spending. Through linguistic dependency parsing of almost 11 million sentences extracted from nearly 25,000 quarterly earnings call transcripts of 1,197 firms between 2008–2019, we demonstrate the proposed approach can predict myopic marketing spending at a quarterly frequency for up to one year in advance. We find that one standard deviation increase in earnings emphasis is associated with 23.68% increase in the likelihood of future myopic marketing spending. Investments based on the proposed approach produce 1.61% additional annual abnormal returns compared to models that exclusively use known predictors of myopic marketing spending, while offering earlier foresight and more frequent opportunities for interventions. This reduces information asymmetry for investors and boards of directors.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140196161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-14DOI: 10.1177/00222429241242685
Saravana Jaikumar, Pradeep K. Chintagunta, Arvind Sahay
The Drug Price Control Order 2013 (DPCO) in India, regulated the prices of certain essential and life-saving drugs to ensure their affordability and availability; with the expectation that this would translate into boosting the sales of those drugs. To assess whether such a sales increase was achieved, we study the effects of the regulation on sales volumes of each regulated drug using a synthetic control approach with sales data from a comparable country which did not experience a regulatory change. We assess the robustness of our results via multiple empirical approaches to triangulate our findings. Contrary to the order’s objectives, we find that sales volumes decline for regulated drugs. Since the order placed restrictions on production levels and on drugs exiting the market, the lowered margins of regulated drugs could have pushed pharmaceutical firms to reduce their marketing expenditures on them. We provide evidence of such a reduction using detailing data from a large pharmaceutical firm. We illustrate that this shift in detailing adversely affected prescriptions from physicians without formal medical degrees who treat the poor and disadvantaged in India; patients that the DPCO was intended to help the most. A survey we conducted shows that these physicians rely on detailing more than medically trained doctors. Taken together, our results provide insights into the strategic actions of firms when faced with regulations, and highlights their unintended consequences. The generalizable nature of our study’s findings across a broad set of medications, has implications for governmental agencies in terms of the need to account for the entire ecosystem of patients, physicians, pharmaceutical firms and pharmacies when implementing such regulations.
{"title":"EXPRESS: Do No Harm? Unintended Consequences of Pharmaceutical Price Regulation in India","authors":"Saravana Jaikumar, Pradeep K. Chintagunta, Arvind Sahay","doi":"10.1177/00222429241242685","DOIUrl":"https://doi.org/10.1177/00222429241242685","url":null,"abstract":"The Drug Price Control Order 2013 (DPCO) in India, regulated the prices of certain essential and life-saving drugs to ensure their affordability and availability; with the expectation that this would translate into boosting the sales of those drugs. To assess whether such a sales increase was achieved, we study the effects of the regulation on sales volumes of each regulated drug using a synthetic control approach with sales data from a comparable country which did not experience a regulatory change. We assess the robustness of our results via multiple empirical approaches to triangulate our findings. Contrary to the order’s objectives, we find that sales volumes decline for regulated drugs. Since the order placed restrictions on production levels and on drugs exiting the market, the lowered margins of regulated drugs could have pushed pharmaceutical firms to reduce their marketing expenditures on them. We provide evidence of such a reduction using detailing data from a large pharmaceutical firm. We illustrate that this shift in detailing adversely affected prescriptions from physicians without formal medical degrees who treat the poor and disadvantaged in India; patients that the DPCO was intended to help the most. A survey we conducted shows that these physicians rely on detailing more than medically trained doctors. Taken together, our results provide insights into the strategic actions of firms when faced with regulations, and highlights their unintended consequences. The generalizable nature of our study’s findings across a broad set of medications, has implications for governmental agencies in terms of the need to account for the entire ecosystem of patients, physicians, pharmaceutical firms and pharmacies when implementing such regulations.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140142183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-04DOI: 10.1177/00222429241239892
Banggang Wu, Yubo Chen, Prasad A. Naik
Online retailers worldwide invest beyond their core business of retailing to offer own delivery services (ODS) to deliver products to customers’ homes through their own logistics network. How does this shift to ODS affect customers’ behaviors and sales performance? When and why do retailers venture beyond their core competence to offer ODS? To explore these questions, the authors analyze 250,055 customer transactions over 10 years across 416 cities and 49 product categories from JD, a major online retailer in China. Using difference-in-differences model, causal mediation analysis, and synthetic control method, they find that ODS increases customers’ monthly spending by 7.8% and grows the city-level sales by 11.9%. This study is the first one to quantify the sales impact of ODS and shed light on when and why it works. The findings reveal that ODS has greater value for markets with lower trust levels, infrequent customers, high-risk product categories, and consumers who prefer the focal retailer (versus that of third-party sellers). Causal mediation analysis further reveals that ODS not only improves delivery quality, but also builds customer trust, which together increase customers’ monthly spending, purchase frequency, and the number of items ordered.
{"title":"EXPRESS: How Own Delivery Services Influence Customer Behavior and Sales in Online Retail? Building Trust and Improving Delivery Quality in Digital Economy","authors":"Banggang Wu, Yubo Chen, Prasad A. Naik","doi":"10.1177/00222429241239892","DOIUrl":"https://doi.org/10.1177/00222429241239892","url":null,"abstract":"Online retailers worldwide invest beyond their core business of retailing to offer own delivery services (ODS) to deliver products to customers’ homes through their own logistics network. How does this shift to ODS affect customers’ behaviors and sales performance? When and why do retailers venture beyond their core competence to offer ODS? To explore these questions, the authors analyze 250,055 customer transactions over 10 years across 416 cities and 49 product categories from JD, a major online retailer in China. Using difference-in-differences model, causal mediation analysis, and synthetic control method, they find that ODS increases customers’ monthly spending by 7.8% and grows the city-level sales by 11.9%. This study is the first one to quantify the sales impact of ODS and shed light on when and why it works. The findings reveal that ODS has greater value for markets with lower trust levels, infrequent customers, high-risk product categories, and consumers who prefer the focal retailer (versus that of third-party sellers). Causal mediation analysis further reveals that ODS not only improves delivery quality, but also builds customer trust, which together increase customers’ monthly spending, purchase frequency, and the number of items ordered.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140266658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-19DOI: 10.1177/00222429231221698
Fred Feinberg
McShane et al.'s (2024) wide-ranging critique of null hypothesis significance testing provides a number of specific suggestions for improved practice in empirical research. This commentary amplifies several of these from the perspective of computational statistics—particularly nonparametrics, resampling/bootstrapping, and Bayesian methods—applied to common research problems. Throughout, the author emphasizes estimation (as opposed to testing) and uncertainty quantification through a comprehensive process of “curating” a variety of graphical and tabular evidence. Specifically, researchers should be encouraged to estimate the quantities that matter, with as few assumptions as possible, in multiple ways, then try to visualize it all, documenting their pathway from data to results for others to follow.
{"title":"p-Values as QWERTY: Curating Evidence in the Computational Era","authors":"Fred Feinberg","doi":"10.1177/00222429231221698","DOIUrl":"https://doi.org/10.1177/00222429231221698","url":null,"abstract":"McShane et al.'s (2024) wide-ranging critique of null hypothesis significance testing provides a number of specific suggestions for improved practice in empirical research. This commentary amplifies several of these from the perspective of computational statistics—particularly nonparametrics, resampling/bootstrapping, and Bayesian methods—applied to common research problems. Throughout, the author emphasizes estimation (as opposed to testing) and uncertainty quantification through a comprehensive process of “curating” a variety of graphical and tabular evidence. Specifically, researchers should be encouraged to estimate the quantities that matter, with as few assumptions as possible, in multiple ways, then try to visualize it all, documenting their pathway from data to results for others to follow.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139939039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-16DOI: 10.1177/00222429241236142
Peter Guenther, Miriam Guenther, Bryan A. Lukas, Christian Homburg
Marketing scholars have extensively studied marketing’s effect on firm value and developed metrics and dashboards to help establish marketing accountability. However, empirical evidence of marketing accountability’s specific outcomes is scarce and mainly derived from surveys. It also lacks consideration of outcomes beyond the marketing function’s standing in the firm, thus overlooking possible downsides and outcomes with regard to external stakeholders such as investors. Using a natural experiment — Australia’s change from a non-restrictive to a restrictive accounting regime — this study investigates how accountability for the financial value of marketing assets (marketing asset accountability) affects a firm’s marketing management focus on short-term vis-à-vis long-term marketing efficiency, its cost of capital, and the degree to which its stock price reflects actual future performance (i.e., stock price informativeness). The results show that marketing asset accountability improves long-term marketing efficiency, reduces cost of equity, and improves stock price informativeness, but does not consistently affect short-term marketing efficiency and cost of debt. Moreover, although marketing-intensive firms are commonly assumed to benefit most from marketing asset accountability, this is not the case. These results have implications for researchers, managers, and public policy decision-makers.
{"title":"EXPRESS: Consequences of Marketing Asset Accountability – a Natural Experiment","authors":"Peter Guenther, Miriam Guenther, Bryan A. Lukas, Christian Homburg","doi":"10.1177/00222429241236142","DOIUrl":"https://doi.org/10.1177/00222429241236142","url":null,"abstract":"Marketing scholars have extensively studied marketing’s effect on firm value and developed metrics and dashboards to help establish marketing accountability. However, empirical evidence of marketing accountability’s specific outcomes is scarce and mainly derived from surveys. It also lacks consideration of outcomes beyond the marketing function’s standing in the firm, thus overlooking possible downsides and outcomes with regard to external stakeholders such as investors. Using a natural experiment — Australia’s change from a non-restrictive to a restrictive accounting regime — this study investigates how accountability for the financial value of marketing assets (marketing asset accountability) affects a firm’s marketing management focus on short-term vis-à-vis long-term marketing efficiency, its cost of capital, and the degree to which its stock price reflects actual future performance (i.e., stock price informativeness). The results show that marketing asset accountability improves long-term marketing efficiency, reduces cost of equity, and improves stock price informativeness, but does not consistently affect short-term marketing efficiency and cost of debt. Moreover, although marketing-intensive firms are commonly assumed to benefit most from marketing asset accountability, this is not the case. These results have implications for researchers, managers, and public policy decision-makers.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139939000","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-01DOI: 10.1177/00222429241231236
Arvid O. I. Hoffmann, C. Cheong, Hoàng-Long Phan, Ralf Zurbruegg
Research examining the antecedents instead of consequences of recalls is relatively sparse and has not considered whether firms’ likelihood to recall products is influenced by legal changes that could induce managerial opportunism, such as those reducing shareholder litigation risk. To examine this question, the authors exploit the staggered adoption of universal demand (UD) laws across different states in the U.S. as a quasi-natural experiment. UD laws aim to prevent frivolous litigation from disrupting a firm’s normal business operations by making it more difficult for shareholders to sue managers for neglecting their fiduciary duties and hold them personally liable. Although UD laws are well-intended, the reduced threat of shareholder litigation disciplining a firm’s managers could have unintended negative consequences. Indeed, using a difference-in-differences (DiD) analysis, the authors find that following the adoption of UD laws, affected firms become less likely to recall products. This effect is weaker in the presence of organizational mechanisms constraining managers’ self-interest-seeking behavior, such as a corporate culture focused on customer needs and interests or the exercise of normative control through monitoring by institutional investors. The authors do not find support for a potential alternative explanation of operational improvement and therefore higher product quality driving their findings.
有关召回的前因后果的研究相对较少，也没有考虑到企业召回产品的可能性是否会受到可能诱发管理机会主义的法律变化的影响，例如那些降低股东诉讼风险的法律变化。为了研究这个问题，作者利用美国不同州交错采用普遍需求法（UD）作为准自然实验。普遍索偿法旨在通过增加股东起诉管理者疏忽信托责任并追究其个人责任的难度，防止轻率诉讼干扰公司的正常业务运营。尽管 UD 法律的初衷是好的，但减少股东诉讼对公司管理者进行惩戒的威胁可能会带来意想不到的负面影响。事实上，作者利用差异分析（DiD）发现，在通过 UD 法律后，受影响的公司召回产品的可能性会降低。如果存在约束管理者追求自身利益行为的组织机制，如注重客户需求和利益的企业文化，或通过机构投资者的监督来实施规范性控制，这种效应就会减弱。作者并没有找到支持其研究结果的另一种可能的解释，即经营改善，从而提高产品质量。
{"title":"EXPRESS: So, Sue Me … If You Can! How Legal Changes Diminishing Managers’ Risk of Being Held Liable by Shareholders Affect Firms’ Likelihood to Recall Products","authors":"Arvid O. I. Hoffmann, C. Cheong, Hoàng-Long Phan, Ralf Zurbruegg","doi":"10.1177/00222429241231236","DOIUrl":"https://doi.org/10.1177/00222429241231236","url":null,"abstract":"Research examining the antecedents instead of consequences of recalls is relatively sparse and has not considered whether firms’ likelihood to recall products is influenced by legal changes that could induce managerial opportunism, such as those reducing shareholder litigation risk. To examine this question, the authors exploit the staggered adoption of universal demand (UD) laws across different states in the U.S. as a quasi-natural experiment. UD laws aim to prevent frivolous litigation from disrupting a firm’s normal business operations by making it more difficult for shareholders to sue managers for neglecting their fiduciary duties and hold them personally liable. Although UD laws are well-intended, the reduced threat of shareholder litigation disciplining a firm’s managers could have unintended negative consequences. Indeed, using a difference-in-differences (DiD) analysis, the authors find that following the adoption of UD laws, affected firms become less likely to recall products. This effect is weaker in the presence of organizational mechanisms constraining managers’ self-interest-seeking behavior, such as a corporate culture focused on customer needs and interests or the exercise of normative control through monitoring by institutional investors. The authors do not find support for a potential alternative explanation of operational improvement and therefore higher product quality driving their findings.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139687962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-08DOI: 10.1177/00222429241227145
Joy Lu, Eric T. Bradlow, J. W. Hutchinson
Following trends in entertainment streaming services, online educational platforms are increasingly offering users flexible “on-demand” content options. It is important to understand how the timing of content release affects learning behaviors and firm revenue drivers. The current research studies over 67,000 users taking a marketing course before vs. after a natural experiment where the platform switched the course from a scheduled weekly-release format to an on-demand format with all content immediately available. The switch to on-demand positively impacted short-term firm revenue by increasing the number and proportion of certificate-paying users, suggesting that on-demand content can attract a broader set of consumers who value flexibility. On the downside, the switch resulted in users exhibiting lower lecture completion rates and quiz performance, and taking fewer additional business courses on the platform, representing a long-term cost. The results were robust to propensity score matching and stratification. The analyses also revealed that on-demand content enabled learning patterns that deviated from a standard evenly-paced schedule, including “strategic” binge learning and stretching out engagement past the recommended course period. Thus, while on-demand formats can boost revenues by bringing in more paying users, managers must consider new strategies for maintaining performance and engagement levels within these environments.
{"title":"EXPRESS: More Likely to Pay but Less Engaged: the Effects of Switching Online Courses from Scheduled to On-Demand Release on User Behavior","authors":"Joy Lu, Eric T. Bradlow, J. W. Hutchinson","doi":"10.1177/00222429241227145","DOIUrl":"https://doi.org/10.1177/00222429241227145","url":null,"abstract":"Following trends in entertainment streaming services, online educational platforms are increasingly offering users flexible “on-demand” content options. It is important to understand how the timing of content release affects learning behaviors and firm revenue drivers. The current research studies over 67,000 users taking a marketing course before vs. after a natural experiment where the platform switched the course from a scheduled weekly-release format to an on-demand format with all content immediately available. The switch to on-demand positively impacted short-term firm revenue by increasing the number and proportion of certificate-paying users, suggesting that on-demand content can attract a broader set of consumers who value flexibility. On the downside, the switch resulted in users exhibiting lower lecture completion rates and quiz performance, and taking fewer additional business courses on the platform, representing a long-term cost. The results were robust to propensity score matching and stratification. The analyses also revealed that on-demand content enabled learning patterns that deviated from a standard evenly-paced schedule, including “strategic” binge learning and stretching out engagement past the recommended course period. Thus, while on-demand formats can boost revenues by bringing in more paying users, managers must consider new strategies for maintaining performance and engagement levels within these environments.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446344","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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