Dynamic Marketing Capabilities: Toward an Integrative Framework

In recent years, the dynamic capabilities view has attracted attention in the management literature, and theoretical papers note many research challenges. Currently, one of the most significant issues is the role of the marketing function in the development of dynamic capabilities, and some recent discussions have even introduced the new term ‘dynamic marketing capabilities’. The main area of interest is how to achieve a well‐integrated framework to serve as the starting point for empirical papers. Although the most recent research proposes a wide range of processes as possible dynamic marketing capabilities, it is difficult to find consensus among these proposals. To resolve this difficulty, this paper seeks to define the dynamic marketing capabilities construct based on accepted components in the generic dynamic capabilities view. More specifically, it defines the role of dynamic marketing capabilities through absorptive capacity and knowledge management. By identifying these components and relating them in an integrative model, the authors propose to explain how dynamic marketing capabilities work and precisely which marketing processes promote both components.     

品牌微博如何吸引粉丝互动——基于CMC理论的实证研究

微博为品牌和消费者之间提供了对话式沟通的机会,是品牌维系客户关系、塑造品牌形象的重要渠道。然而,当前的实践活动尚缺乏系统的理论指导,企业对于如何利用品牌微博吸引粉丝互动尚缺乏深入理解。本文基于CMC理论,通过对417条品牌微博的内容分析,实证检验了互动性、生动性、内容有用性和有趣性以及名人效应在吸引粉丝互动方面的影响作用。研究发现,名人效应和内容的生动性对于品牌微博的互动效果影响最为显著,内容有用性亦会有效吸引粉丝互动,而内容的互动性、有趣性的影响作用并不显著。研究结果为品牌微博沟通提供了理论框架和实践指导。     

制造业企业产品创新与工艺创新协同发展博弈分析

对制造业企业内部协同创新即企业产品创新部门产品创新与工艺创新部门工艺创新的协同发展进行了博弈分析,研究了产品创新部门与工艺创新部门在有限的创新投入情况下,产品创新与工艺创新投入比例应满足的条件。同时,对制造业企业外部协同创新即同行业中的两个制造业企业的产品创新与工艺创新的协同发展进行了博弈分析,研究了古诺条件下制造业企业在进行产品创新、进行工艺创新以及同时进行产品创新和工艺创新三种情况下,制造业企业产品创新成本函数、工艺创新成本函数应满足的条件,以及制造业企业如何进行产品创新和工艺创新协同策略选择。     

Signal Orderings Based on Dispersion and the Supply of Private Information in Auctions

This paper provides a novel approach to ordering signals based on the property that more informative signals lead to greater variability of conditional expectations. We define two nested information criteria (supermodular precision and integral precision) by combining this approach with two variability orders (dispersive and convex orders). We relate precision criteria with orderings based on the value of information to a decision maker. We then use precision to study the incentives of an auctioneer to supply private information. Using integral precision, we obtain two results: (i) a more precise signal yields a more efficient allocation; (ii) the auctioneer provides less than the efficient level of information. Supermodular precision allows us to extend the previous analysis to the case in which supplying information is costly and to obtain an additional finding; (iii) there is a complementarity between information and competition, so that both the socially efficient and the auctioneer's optimal choice of precision increase with the number of bidders.     

Optimal Per‐Use Rentals and Sales of Durable Products and Their Distinct Roles in Price Discrimination

We consider a setting in which consumers experience distinct instances of need for a durable product at random intervals. Each instance of need is associated with a random utility and the consumers are differentiated according to the frequency with which they experience such instances of need. We use our model of consumer utility to characterize the firm's optimal strategy of whether to sell, rent, or do a combination of both in terms of the transaction costs and consumers' usage characteristics. We find that the two modes of operation serve different roles in allowing the firm to price discriminate. While sales allow the firm to discriminate among consumers of different usage frequencies, rentals allow it to discriminate according to consumers' realized valuations. Consequently, even when transaction costs are negligible, it is often optimal for the firm to simultaneously rent and sell its product. In addition, we find that although sales and rentals are substitutes and that the offering of sales weakly increases rental prices, it is possible that the introduction of rentals to a pure selling operation can either increase or decrease the optimal sales prices.     

Ownership Structure,Corporate Value and Firm Investment: A Simultaneous Equations Analysis of Spanish Companies

This paper is concerned with the set of mutualrelationships between firm valuation andinvestment, and with the possible endogeneityof ownership structure. In order to deal withthem properly, we aim to test the mutual impactof investment, corporate value and ownership bybroadening the usual framework with asimultaneous equations approach. Using a sampleof 140 Spanish listed companies for the1991–1997 period, we have found that,consistent with previous research, thealignment and entrenchment hypotheses seem tobe confirmed by the estimation of aone-equation model. However, when analyzed bymeans of a system of simultaneous equations inwhich a set of mutual relationships isintroduced, quite different results wereobtained. Although valuation and investment offirms are determined by managerial ownership,we have found that ownership structure may alsobe influenced both by investment and value.Consequently, it is not completely right toinfer that ownership structure determines firmvalue unidirectionally; however the benchmarkshould be broadened so as to take an explicitaccount of the mutual links between firm value,investment and ownership.     

From Entrepreneurial Orientation and Learning Orientation to Business Performance: Analysing the Mediating Role of Organizational Learning and the Moderating Effects of Organizational Size

Following the organizational learning theory and the knowledge‐based view approach, this contribution aims to study the influence of entrepreneurial orientation and learning orientation on organizational learning, considering the latter as a mediating variable in the relationships between both antecedent cultural values and business performance. We also analyse the moderating role of organizational size on these previous relationships. The hypotheses proposed in our research model are tested on a sample of 140 Spanish industrial companies, applying variance‐based structural equation modelling: partial least squares. In order to assess the moderating effects of organizational size, we adopt a multi‐group approach using two subsamples with large firms and small and medium‐sized enterprises (SMEs). Our findings indicate that organizational learning partially mediates the relationship between entrepreneurial orientation and performance and fully mediates the link between learning orientation and performance. Likewise, the results reveal that the relationship established between entrepreneurial orientation and organizational learning is more intense for the group of large firms than for the group of SMEs. Moreover, the influence of learning orientation on organizational learning is greater in SMEs than in large firms.     

Relationships with Citizens in Public Management: A Study at the Largest Spanish Town Halls

This paper provides an analysis of the relationships existing between citizen participation and satisfaction levels within the framework of Spanish local administrations, additionally paying attention to the links between organisational size and the said participation and satisfaction levels. The results of a survey questionnaire answered by 388 Human Resources (HR) managers from the largest Spanish Town Halls were examined for these purposes. A claim is made both to increase the degree of citizen participation in public decision-making and to ensure the delivery of efficient and effective public services that can really meet citizens’ needs in Spanish town Halls.     

供应链融资业务中钢材质押贷款动态质押率设定的VaR方法

异于债券、股票等质押融资业务,存货质押业务动态质押的核心在于预测其长期价格风险。从分析存货质押市场收益率的统计特征出发,以场外现货交易为主的钢材((HRB335)日数据为例,建立能刻画钢材收益率序列异方差性和尖峰厚尾特性的VaR-GARCH(1,1)-GED模型。同时,提出置于多风险窗口下运用样本外预测未来质押期内钢材价格风险水平,给出厚尾分布下长期风险VaR的计算解析式,得出与银行风险承受能力相一致的质押率。进而,基于失效率法则建立长期风险的碰撞序列函数,回测多风险窗口下长期VaR值。实证分析显示,模型得到的质押率在控制好风险的同时降低了效率损失,为商业银行提供一种动态质押率的风险管理模式和框架。