An Empirical Examination of Stock Market Reactions to Introduction of Co-branded Products

This dissertation examines how the stock market reacts to announcements of introduction of co-branded new products. Despite the apparent enthusiasm of practitioners towards co-branding--the practice of using two established brand names on the same product--, there is a dearth of research on if and how co-branding can be effectively leveraged to significantly increase the value added of new products. Whether greater financial rewards accrue to the manufacturer of the co-branded product (i.e. the primary brand parent) or to the partner firm that lends its brand to the co-branded product (i.e. the secondary brand parent), and how these rewards may differ depending on the characteristics of the co-branded product itself are yet unanswered questions. Using data from the consumer packaged goods industry, I empirically examine the extent to which co-branding increases the market value of the parent firms and analyze the determinants of the magnitude of increase in market value for both firms involved in the co-branding alliance. I present empirical evidence in support of a positive stock market reaction to the introduction of co-branded new products and find that this reaction is greater, on average, than the market reaction to the introduction of single-branded new products. I also show that the consistency between the brand images of the two products, the innovativeness of the product, and the exclusivity of the co-branding relationship significantly impact the market?s reaction to the announcement of new co-branded products. Moreover, these effects manifest both in the short term (i.e., at the time of the announcement) and over a longer time window (i.e., during the year following the announcement). Furthermore, I find that not all types of co-branding partnerships are equal. Composite co-branding (where both brands bring a substantive contribution to the formulation of the new product) results in higher financial rewards to the partners compared to ingredient and endorsement partnerships. The findings provide important managerial guidelines for increasing firm value through co-branding partnerships

An Empirical Examination of Stock Market Reactions to Introduction of Co-branded Products

This dissertation examines how the stock market reacts to announcements of introduction of co-branded new products. Despite the apparent enthusiasm of practitioners towards co-branding--the practice of using two established brand names on the same product--, there is a dearth of research on if and how co-branding can be effectively leveraged to significantly increase the value added of new products. Whether greater financial rewards accrue to the manufacturer of the co-branded product (i.e. the primary brand parent) or to the partner firm that lends its brand to the co-branded product (i.e. the secondary brand parent), and how these rewards may differ depending on the characteristics of the co-branded product itself are yet unanswered questions. Using data from the consumer packaged goods industry, I empirically examine the extent to which co-branding increases the market value of the parent firms and analyze the determinants of the magnitude of increase in market value for both firms involved in the co-branding alliance. I present empirical evidence in support of a positive stock market reaction to the introduction of co-branded new products and find that this reaction is greater, on average, than the market reaction to the introduction of single-branded new products. I also show that the consistency between the brand images of the two products, the innovativeness of the product, and the exclusivity of the co-branding relationship significantly impact the market?s reaction to the announcement of new co-branded products. Moreover, these effects manifest both in the short term (i.e., at the time of the announcement) and over a longer time window (i.e., during the year following the announcement). Furthermore, I find that not all types of co-branding partnerships are equal. Composite co-branding (where both brands bring a substantive contribution to the formulation of the new product) results in higher financial rewards to the partners compared to ingredient and endorsement partnerships. The findings provide important managerial guidelines for increasing firm value through co-branding partnerships

Loss of Angiopoietin-like 7 diminishes the regeneration capacity of hematopoietic stem and progenitor cells

© 2015 Xiao et al.; licensee Biomed Central. Successful expansion of hematopoietic stem cells (HSCs) would benefit the use of HSC transplants in the clinic. Angiopoietin-like 7 promotes the expansion of hematopoietic stem and progenitor cells (HSPC) in vitro and ex vivo. However, the impact of loss of Angptl7 on HSPCs in vivo has not been characterized. Here, we generated Angptl7-deficient mice by TALEN-mediated gene targeting and found that HSC compartments in Angptl7-null mice were compromised. In addition, wild type (WT) HSPCs failed to repopulate in the BM of Angptl7-null mice after serial transplantations while the engraftment of Angptl7-deficient HSPCs in WT mice was not impaired. These results suggest that Angptl7 is required for HSPCs repopulation in a non-cell autonomous manner.Link_to_subscribed_fulltex

Quantitative evaluation of the immunodeficiency of a mouse strain by tumor engraftments

© 2015 Ye et al. Background: The mouse is an organism that is widely used as a mammalian model for studying human physiology or disease, and the development of immunodeficient mice has provided a valuable tool for basic and applied human disease research. Following the development of large-scale mouse knockout programs and genome-editing tools, it has become increasingly efficient to generate genetically modified mouse strains with immunodeficiency. However, due to the lack of a standardized system for evaluating the immuno-capacity that prevents tumor progression in mice, an objective choice of the appropriate immunodeficient mouse strains to be used for tumor engrafting experiments is difficult. Methods: In this study, we developed a tumor engraftment index (TEI) to quantify the immunodeficiency response to hematologic malignant cells and solid tumor cells of six immunodeficient mouse strains and C57BL/6 wild-type mouse (WT). Results: Mice with a more severely impaired immune system attained a higher TEI score. We then validated that the NOD-scid-IL2Rg-/- (NSI) mice, which had the highest TEI score, were more suitable for xenograft and allograft experiments using multiple functional assays. Conclusions: The TEI score was effectively able to reflect the immunodeficiency of a mouse strain.Link_to_subscribed_fulltex

Fashion Brand Purity and Firm Performance

A large number of prior empirical research and case studies used qualitative methodology to discuss the fashion brand dilution resulting from consumer base extension from the target group(s) to the nontarget groups and its impacts. From a different perspective, this paper establishes a dynamic brand dilution and performance model, demonstrating how dynamic changes of sales volumes involving the two consumer groups affect the degree of brand dilution and the performance of the brand. We incorporate the factor “brand purity” to the model as a quantitative measure of brand dilution level that affects firm annual revenue and profit change comprehensively in iteration. Our model suggests that fashion brands, especially luxury brands, can be easily diluted under the pressure of firm growth, and the brands suffer the significant negative impact on their revenues and profit. While increasing sales volume can aggravate the negative consequences, brand purity can be increased through limiting the consumer base to the target group only

sj-pdf-1-jmx-10.1177_00222429231191446 - Supplemental material for When Do Marketing Ideation Crowdsourcing Contests Create Shareholder Value? The Effect of Contest Design and Marketing Resource Factors

Supplemental material, sj-pdf-1-jmx-10.1177_00222429231191446 for When Do Marketing Ideation Crowdsourcing Contests Create Shareholder Value? The Effect of Contest Design and Marketing Resource Factors by Zixia Cao, Hui Feng and Michael A. Wiles in Journal of Marketing</p