LM Unit Root Test with Panel Data: A Test Robust To Structural Changes

This paper proposes an LM test for the unit root hypothesis using panel data. The LM statistic based on the pooled likelihood function is obtained by standardizing the average of the LM statistic for individual time series. Under the null hypothesis, the statistic follows the standard normal distribution in the limit as N, T goes to infinity as long as N/T approaches any finite number, regardless of whether structural breaks are present. According to the Monte Carlo simulation results, the LM test is robust to the presence of structural breaks, and is more powerful than the popular test proposed by Im, Pesaran and Shin (1997) in the benchmark case where no structural breaks are involved.

Millennials and repurchasing behaviour: A collectivist emerging market

This study explains how retailers can use the knowledge function of attitudinal theories to understand how millennials in a collectivist emerging market, trade-off between a satisfactory customer service experience versus price when repurchasing a smartphone. 356 useable questionnaires (86% response rate) were collected and analysed using structural equation modelling (SEM), AMOS. Millennials in Vietnam tend to adopt an individualistic approach when repurchasing a smartphone and utilise their knowledge of the product. However, they value personalised customer service that is specific to their needs, especially interactions with sales staff that raises their confidence and self-esteem. The unique interaction allows authorised retailers to distinguish themselves from unauthorised retailers. Repurchase behaviour is encouraged by low uncertainty avoidance in conjunction with price sensitivity; and the desire to be seen as achieving a high social status. The data for the study was collected in Hanoi, the main city of Vietnam and is representative only of urban-based millennials. Retailers considering entering an collectivist emerging market need to understand that millennials are price sensitive and may repurchase from unauthorised retailers. Accurate information and sales promotions can be used to stimulate demand for a high involvement product. Functional theories of attitudes is used to link the concept of customer service with knowledge function utilisation in order to establish how customers in an collectivist emerging market process information and share knowledge through socialisation

How the market driving approach can create brand value through a digital platform.

This paper examines how the value of a brand is enhanced through a learning process that incorporates customer dialogue and results in co-creation and the incorporation of a consumer oriented relationship marketing approach. We adopted the market driving concept and related it to how companies can strengthen their competitive standing by increasing the knowledge transfer capability by utilizing data collected through social media technology (SMT). A qualitative research strategy was deployed involving a critical friendship group and a group interview, and a number of constructs were identified and then grouped according to a number of underlying themes. Our findings, a Digital Stakeholder Communication Platform (DSCP) framework, supports and explains how the concept of market driving enhances a pro-active strategic capability. It highlights the importance of learning and managing a value system that reflects on societal values, and the need for companies to consider how they contribute to societal well being

Increased Risk of Ischemic Stroke during Sleep in Apneic Patients.

BACKGROUND AND PURPOSE:The literature indicates that obstructive sleep apnea (OSA) increases the risk of ischemic stroke. However, the causal relationship between OSA and ischemic stroke is not well established. This study examined whether preexisting OSA symptoms affect the onset of acute ischemic stroke. METHODS:We investigated consecutive patients who were admitted with acute ischemic stroke, using a standardized protocol including the Berlin Questionnaire on symptoms of OSA prior to stroke. The collected stroke data included the time of the stroke onset, risk factors, and etiologic subtypes. The association between preceding OSA symptoms and wake-up stroke (WUS) was assessed using multivariate logistic regression analysis. RESULTS:We identified 260 subjects with acute ischemic strokes with a definite onset time, of which 25.8% were WUS. The presence of preexisting witnessed or self-recognized sleep apnea was the only risk factor for WUS (adjusted odds ratio=2.055, 95% confidence interval=1.035-4.083, p=0.040). CONCLUSIONS:Preexisting symptoms suggestive of OSA were associated with the occurrence of WUS. This suggests that OSA contributes to ischemic stroke not only as a predisposing risk factor but also as a triggering factor. Treating OSA might therefore be beneficial in preventing stroke, particularly that occurring during sleep

How organizational learning reinforces interactive communication and sustainable B2B customer centred business relationships

The purpose of this paper is to explain how the process of organizational learning reinforces the relationship marketing approach and fosters the development of knowledge and B2B customer centred relationships. A qualitative research strategy was deployed that incorporated an open ended, structured questionnaire. In total, three Korean companies and 15 senior B2B marketing managers participated in the research. The research findings indicate that senior B2B marketing managers in the participating Korean companies embrace knowledge acquisition and implementation in their marketing decision making, hence they are committed to sharing information and are keen to adopt innovatory processes that result in change. By doing so, they utilize the organizational learning concept to enhance the capability of the organization, ensure that individual learning is placed in the context of institutional learning, develop and implement innovative marketing strategies, and reinforce the strategic marketing planning process through interactive communication in order to achieve value creation

Retailing Strategy and the Importance of Clearly Defined Partnership Arrangements

Retailers operate in a complex and competitive environment, and because of this retail managers need to be aware of the need to seek market opportunities and develop long-term sustainable relationships with partner organizations. In order that a retail organization develops a sustainable competitive advantage, it is essential that a partnership arrangement is viewed as necessary and is based on trust. This means that there is a high degree of transparency and that open communication is encouraged. It also means that various types of information are shared and staff involved in the partnership arrangement are committed to personal development. This is necessary if an organizational cultural value system is to be produced that gives rise to a set of common goals and objectives that translate into a highly motivated workforce. Should this be the case, staff in the partnership arrangement should be able to provide a high level of customer service that results in customer expectations being met. Retail managers and their staff are required to be committed to market intelligence gathering and to think in terms of strategic positioning. The governance mechanism can be used as a blueprint to provide retail staff with direction, and it should ensure that open, mutually beneficial partnership arrangements develop that can be maintained through time