Causal loops in long-term supply relationships : theory and evidence from the United States

This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during a boom. Also some evidence is found for asymmetry in the United Kingdom and Belgium. In the Netherlands, monetary policy is not very effective in either regime.

The Causality of Supply Relationships

This study examines the 'logic' or underlying causality of supply relationships. It develops and tests hypotheses, in a LISREL model, on detailed data for 553, 450 and 226 supply relationships in the US, Japanese and European automobile industries. The differences found between the three regions seem small, given the received view that there are fundamental differences between 'Japanese' and 'Western' contracting. However, the differences that remain suggest that in the US perhaps the 'Japanese system' has been surpassed, in a 'third way' that combines the advantages of sufficiently durable relations with the advantages of an open system with great variety.Automobile industries;Learning theory;Social exchange theory;Supply relationships;commitment

Knowledge-based entrepreneurship in Hungary

According to rich and growing empirical literature, one of the main deficiencies of Hungarian smes is their low growth potential. Survey results underline the strong influence of cultural factors including behavioral features rooted in the socialist era among the main explanatory factors of entrepreneurs' reluctance to expand activity and drive the company ahead, along the usual growth path. As opposed to this gloomy general picture, my field investigations have supported the hypothesis that knowledge-based entrepreneurs and companies are different from average Hungarian entrepreneurs and smes in many respects.entrepreneurship, knowledge, Hungarian economy, small enterprises

The Relationship between Buyer and a B2B e-Marketplace: Cooperation Determinants in an Electronic Market Context

In this article, the authors argue that cooperation may be achieved by adding technology dimensions to the core product. Given the growing importance of real time information exchange and interactivity, a better understanding of the use of technology to the establishment and development of the buyer-supplier cooperative relationships is essential for knowledge advancement. Using a sample of nearly 400 SMEs purchasing managers, this paper reveals that in an electronic market context, cooperation is positively affected by termination costs, supplier policies and practices, communication and information exchange, and negatively affected by product prices and opportunistic behavior. Moreover, both relationship commitment and trust play a major role in mediating the relationships between these five determinants and cooperation.relationship marketing, trust, cooperation, electronic markets, e-commerce

Algorithms for advance bandwidth reservation in media production networks

Media production generally requires many geographically distributed actors (e.g., production houses, broadcasters, advertisers) to exchange huge amounts of raw video and audio data. Traditional distribution techniques, such as dedicated point-to-point optical links, are highly inefficient in terms of installation time and cost. To improve efficiency, shared media production networks that connect all involved actors over a large geographical area, are currently being deployed. The traffic in such networks is often predictable, as the timing and bandwidth requirements of data transfers are generally known hours or even days in advance. As such, the use of advance bandwidth reservation (AR) can greatly increase resource utilization and cost efficiency. In this paper, we propose an Integer Linear Programming formulation of the bandwidth scheduling problem, which takes into account the specific characteristics of media production networks, is presented. Two novel optimization algorithms based on this model are thoroughly evaluated and compared by means of in-depth simulation results

Use of switching barriers to retain customers: Online retail stock traders in Hong Kong

Why some customers decide to stay withexisting service provider after having thought of switchinghas apparently not been examined adequately in extantresearch. The purpose of this research is to identifyfactors relevant to building constructs to representswitching barriers in online retail stock trading industryin Hong Kong. Review of extant literature, development ofa questionnaire and focus group interviews are the threeprincipal methods used for this research. Four factors thatare relevant for measuring switching barriers areidentified: two positive barriers involve service recoveryand trust and two negative barriers relate to higherswitching costs and lack of attractive alternatives

Human Touch Experience: A Strategy for Reducing Consumer Switching Behavior in The Financial Service Industry

This research provides an in-depth exploration of the Human Touch Experience (HTE) as a strategy for reducing consumer switching behavior in the financial service industry (Non-Bank). Amidst increasing competition and digitalization, maintaining customer loyalty has become a significant challenge for the industry. The study employed a mixed-methods approach, combining quantitative survey data from 1,207 respondents with qualitative data from 30 in-depth interviews. The findings underscore that high levels of HTE are associated with increased customer satisfaction and loyalty and a decreased intention to switch service providers. Furthermore, financial institutions that incorporate HTE practices into their operations report lower rates of customer churn and higher customer satisfaction and loyalty. The results suggest that, despite the digital revolution, a balance between efficient digital services and personalized human interaction can enhance customer relationships

CSR marketing outcomes and branch managers' perceptions of CSR

Purpose The purpose of this paper is to analyze the role of bank branch managers’ perceptions of corporate social responsibility (CSR) in CSR marketing outcomes. Design/methodology/approach The paper proposes a causal model establishing that managers’ perceptions of CSR influence the perception of CSR held by the branch’s customers, which in turn directly affects customer satisfaction, customer trust, customer engagement and customer loyalty. The unit of analysis in this quantitative study is the bank branch. Two questionnaires were administered: one to branch managers and another to five customers in each branch. Findings Branch managers’ perceptions of CSR have a marked influence on customers’ perceptions of CSR, which again have a notable impact on the relationship variables studied: customer satisfaction, customer trust, customer engagement and customer loyalty. Research limitations/implications The sample was taken from two banks in the same country (Spain) and only five customers were interviewed in each branch. The type of customers analyzed should be taken into account since a growing number of customers now carry out all of their banking online and are less likely to visit their branch. Practical implications The results highlight the importance of adopting socially responsible actions not only in the bank as a whole, but also in individual branches. It would, therefore, seem crucial for high level bank executives not only to involve branch managers in the bank’s CSR strategy, but also to empower them to undertake CSR actions that involve the customers and local community with which they interact. Originality/value First, the paper reveals the differences within the same organization in the way its CSR strategy is implemented. Second, intermediary figures or supervisors are shown to have a key role in ensuring the organization’s CSR strategy is effective. Third, the study emphasizes the importance of customers’ perception of CSR in achieving the main outcomes of relationship marketing (satisfaction, trust, engagement and loyalty). Fourth, the methodology applied in the study is innovative in its construction of dyads in which the branch is the unit of analysis, enabling a comparison between the manager’s perceptions of CSR with that of five customers from the same branch. Fifth, the findings add to the knowledge of a particularly relevant sector in the recent economic crisis, namely, the retail banking industry

Scenarios for the development of smart grids in the UK: synthesis report

‘Smart grid’ is a catch-all term for the smart options that could transform the ways society produces, delivers and consumes energy, and potentially the way we conceive of these services. Delivering energy more intelligently will be fundamental to decarbonising the UK electricity system at least possible cost, while maintaining security and reliability of supply. Smarter energy delivery is expected to allow the integration of more low carbon technologies and to be much more cost effective than traditional methods, as well as contributing to economic growth by opening up new business and innovation opportunities. Innovating new options for energy system management could lead to cost savings of up to £10bn, even if low carbon technologies do not emerge. This saving will be much higher if UK renewable energy targets are achieved. Building on extensive expert feedback and input, this report describes four smart grid scenarios which consider how the UK’s electricity system might develop to 2050. The scenarios outline how political decisions, as well as those made in regulation, finance, technology, consumer and social behaviour, market design or response, might affect the decisions of other actors and limit or allow the availability of future options. The project aims to explore the degree of uncertainty around the current direction of the electricity system and the complex interactions of a whole host of factors that may lead to any one of a wide range of outcomes. Our addition to this discussion will help decision makers to understand the implications of possible actions and better plan for the future, whilst recognising that it may take any one of a number of forms