Water-Splitting Photoelectrolysis Reaction Rate via Microscopic Imaging of Evolved Oxygen Bubbles

Bubble formation and growth on a water-splitting semiconductor photoelectrode under illumination with above-bandgap radiation provide a direct measurement of the gas-evolving reaction rate. Optical microscopy was used to record the bubble growth on single-crystal strontium titanate immersed in basic aqueous electrolyte and illuminated with UV light at 351/364 nm from a focused argon laser. By analyzing the bubble size as a function of time, the water-splitting reaction rate was determined for varying light intensities and was compared to photocurrent measurements. Bubble nucleation was explored on an illuminated flat surface, as well as the subsequent light scattering and electrode shielding due to the bubble. This technique allows a quantitative examination of the actual gas evolution rate during photoelectrochemical water splitting, independent of current measurements

Do Loyalty Programs Really Enhance Behavioral Loyalty? An Empirical Analysis Accounting for Self-Selecting Members

One of the pressing issues in marketing is whether loyalty programs really enhance behavioral loyalty. Loyalty program members may have a much higher share-of-wallet at the firm with the loyalty program than non-members have, but this does not necessarily imply that loyalty programs are effective. Loyal customers may select themselves to become members in order to benefit from the program. Since this implies that program membership is endogenous, we estimate models for both the membership decision (using instrumental variables) and for the effect of membership on share-of-wallet, our measure of behavioral loyalty. We use panel data from a representative sample of Dutch households who report their loyalty program memberships for all seven loyalty programs in grocery retailing as well as their expenditures at each of the 20 major supermarket chains. We find a small positive yet significant effect of loyalty program membership on share-of-wallet. This effect is seven times smaller than is suggested by a naïve model that ignores the endogeneity of program membership. The predictive validity of the proposed model is much better than for the naïve model. Our results show that creating loyalty program membership is a crucial step to enhance share-of-wallet, and we provide guidelines how to achieve this.Attraction models;Endogeneity;Grocery retailing;Loyalty programs;Tobit-II model

Do Loyalty Programs Enhance Behavioral Loyalty: An Empirical Analysis Accounting for Program Design and Competitive Effects

This paper studies the effects of loyalty programs on share-of-wallet using market-wide household panel data on supermarket purchases.We find that loyalty programs relate positively to share-of-wallet, but the programs differ in effectiveness and some are ineffective.Both a saving component and a multi-vendor structure enhance the effectiveness of a loyalty program, but high discounts do not lead to higher share-of-wallets.Further, if households have multiple loyalty cards, the effectiveness of a specific loyalty program is much smaller.The positive loyalty program effects on share-of-wallet entail substantial additional customer revenues.However, given the high number of loyalty programs already available in the market, our model predicts that a new loyalty program introduction will only lead to small effects on share-of-wallet.loyalty;marketing;retailing

Accountancy na de Corporate Governance Wet

The current article aims to provide an overview of the main topics of the “Corporate Governance Law”, as well as the main bottlenecks that the application of it entails. The required changes to the Belgian Corporate Law that follow from this law can mainly be subdivided into three main topics: the structure and working of the administrative bodies, the role and position of the controllers of the accounts and the refinement of the rules concerning the working of the general assembly. As to the management, many are arguing that the one-tier-board obliged in Belgium is no longer realistic and that, as such, the way should be cleared for a two-tier-board management structure. Moreover, the responsibility of the managers should be sharpened, by obliging them to pinpoint a representative in case the manager would be an artificial person. Further, the rules with respect to intra-group transactions should be refined and cleared up. These rules build on the prescriptions concerning interest conflicts. Finally, the working rules concerning the general assembly of the shareholders have been adapted in order to indulge the needs of the international shareholders. For example, by foreseeing the possibility for shareholders to organize a general assembly on paper.

The adoption and effectiveness of loyalty programs in retailing

Loyalty programs have widely appeared in several sectors, with the aim of enhancing customer loyalty and profitability. This dissertation examines which role loyalty programs can play in the company's marketing-mix, with a special focus on retailing. The dissertation consists of three independent projects. The first project studies the determinants of retailers' decision to adopt loyalty programs and the effectiveness of loyalty programs by means of a retailer survey. The second project studies the effects of loyalty programs on behavioral loyalty by using market-wide panel data and correcting for the two-sided causality between loyalty program membership and behavioral loyalty. The third project focuses on the effects of loyalty program rewards on (future) customer behavior and customer lifetime value using loyalty program data from an individual retail company.

Study on consumers’ attitudes towards Terms and Conditions (T&Cs): Final Report

This report was produced under the EU Consumer Programme (2014-2020) in the frame of a service contract with the Consumers, Health, Agriculture and Food Executive Agency (Chafea) acting under the mandate from the European Commission.Previous research has shown that when buying products and services online, the vast majority of consumers accept Terms and Conditions (T&Cs) without even reading them. The current research examined effects of interventions aimed at making consumers aware of the quality of such T&Cs. This was done by 1) shortening and simplifying the T&Cs and 2) adding a quality cue to an online store, such as the presence of a logo of a national consumer organisation accompanied by the statement “these terms and conditions are fair”. The main study consisted of three experiments and was conducted in 12 Member States with 1000 respondents in each Member State. In each experiment, consumers visited an online store and went through all the steps of an ordering process. One of these steps was accepting the T&Cs. Key findings are that shortening and simplifying the terms and conditions results in improved readership of the T&Cs, a slightly better understanding of the T&Cs, and a more positive attitude towards the T&Cs. Moreover, adding a quality cue to an online store increases trust and purchase intentions. Which quality cue is trusted the most depends on what type of online store consumers are visiting. For domestic online stores, a quality cue by a national consumer organisation is trusted most; for foreign online stores, a quality cue by a European consumer organisation is trusted most. The patterns were similar across Member States

Do Loyalty Programs Enhance Behavioral Loyalty:An Empirical Analysis Accounting for Program Design and Competitive Effects

This paper studies the effects of loyalty programs on share-of-wallet using market-wide household panel data on supermarket purchases.We find that loyalty programs relate positively to share-of-wallet, but the programs differ in effectiveness and some are ineffective.Both a saving component and a multi-vendor structure enhance the effectiveness of a loyalty program, but high discounts do not lead to higher share-of-wallets.Further, if households have multiple loyalty cards, the effectiveness of a specific loyalty program is much smaller.The positive loyalty program effects on share-of-wallet entail substantial additional customer revenues.However, given the high number of loyalty programs already available in the market, our model predicts that a new loyalty program introduction will only lead to small effects on share-of-wallet.

The Adoption and Effectiveness of Loyalty Programs in Retailing.

Loyalty programs have widely appeared in several sectors, with the aim of enhancing customer loyalty and profitability. This dissertation examines which role loyalty programs can play in the company's marketing-mix, with a special focus on retailing. The dissertation consists of three independent projects. The first project studies the determinants of retailers' decision to adopt loyalty programs and the effectiveness of loyalty programs by means of a retailer survey. The second project studies the effects of loyalty programs on behavioral loyalty by using market-wide panel data and correcting for the two-sided causality between loyalty program membership and behavioral loyalty. The third project focuses on the effects of loyalty program rewards on (future) customer behavior and customer lifetime value using loyalty program data from an individual retail company.

Do Loyalty Programs Enhance Behavioral Loyalty:An Empirical Analysis Accounting for Program Design and Competitive Effects

This paper studies the effects of loyalty programs on share-of-wallet using market-wide household panel data on supermarket purchases.We find that loyalty programs relate positively to share-of-wallet, but the programs differ in effectiveness and some are ineffective.Both a saving component and a multi-vendor structure enhance the effectiveness of a loyalty program, but high discounts do not lead to higher share-of-wallets.Further, if households have multiple loyalty cards, the effectiveness of a specific loyalty program is much smaller.The positive loyalty program effects on share-of-wallet entail substantial additional customer revenues.However, given the high number of loyalty programs already available in the market, our model predicts that a new loyalty program introduction will only lead to small effects on share-of-wallet