Amirali Kani, Duncan K.H. Fong and Wayne S. DeSarbo
This paper aims to examine the evolution of a competitive market structure over time through the lens of competitive group membership dynamics.
Abstract
Purpose
This paper aims to examine the evolution of a competitive market structure over time through the lens of competitive group membership dynamics.
Design/methodology/approach
A new hidden Markov modeling approach is devised that accounts for the three sources of competitive heterogeneity involving managerial strategy, corporate performance and the impact of strategy on performance. In addition, some observed “entry” and “exit” states are considered to model firms’ entry into and exit from the market. The proposed model is illustrated with an investigation of the US banking industry based on a data set created from the COMPUSTAT database. This paper estimated the model within the Bayesian framework and devised a reversible jump Markov chain Monte Carlo estimation procedure to determine the number of latent competitive groups and uncover the characteristics of each group.
Findings
This paper shows that the US banking industry, contrary to the prior findings of having a relatively stable structure, has, in fact, gone through dramatic changes in the past number of decades.
Originality/value
Contrary to prior work that has primarily focused on managerial strategy to study market evolutions, the competitive groups perspective accounts for all three sources of intra-industry competitive heterogeneity. In addition, unlike prior research, the analysis is not limited to firms remaining in the panel of study for the entire observation period. Such limitation results in missing the various changes that occur in the competitive market structure because of the new entrants or the struggling firms that do not survive in the market.
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Wayne S. DeSarbo, Peter Ebbes, Duncan K.H. Fong and Charles C. Snow
Customer value has recently become a primary focus among many strategy researchers and practitioners as an essential element of a firm's competitive strategy. Many firms are…
Abstract
Purpose
Customer value has recently become a primary focus among many strategy researchers and practitioners as an essential element of a firm's competitive strategy. Many firms are engaged in some form of customer value analysis (CVA), which involves a structural analysis of the antecedent factors of perceived value (i.e. perceived quality and perceived price) to assess their relative importance in the perceptions of their buyers. Previous CVA research has focused upon using aggregate market or market segment level analyses. The purpose of this paper is to expose the limitations of implementing CVA on either an aggregate or market segment level basis, and propose an alternative individual level approach.
Design/methodology/approach
The paper develops an extended hierarchical Bayesian approach for cross‐sectional data with one observation per response unit, which allows for estimation at the individual firm level to make CVA more useful. This paper demonstrates the utility of the proposed Bayesian methodology involving a CVA study conducted for a large electric utility company. It also compares the empirical results from aggregate, market segment, and the proposed individual level analyses, and show how traditional approaches mask underlying price and quality importance.
Findings
Marketing and management strategy researchers need to exhibit care when conducting such CVA analyses as underlying heterogeneity can be masked when aggregate market or segment level analyses are conducted.
Originality/value
This paper provides a new hierarchical Bayes recursive simultaneous model formulation for CVA analyses to provide individual level insights with cross‐sectional data.
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Abstract
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S. Lorén Trull and Bruce A. Arrigo
This chapter examines the conundrum of juvenile immigration law and policy and argues that it is a present-day manifestation of “child-saving” in rhetoric, disposition, and human…
Abstract
This chapter examines the conundrum of juvenile immigration law and policy and argues that it is a present-day manifestation of “child-saving” in rhetoric, disposition, and human capital harm. In support of this thesis, the chapter reviews the pertinent human rights, law, and social science evidence, and it concludes that the maintenance of the nation’s existing immigration policy only makes sense within the context of the intentions of the 19th century child-saving movement. To substantiate this view, the political-economic drivers of contemporary US immigration policy (i.e., its child-saving dynamics) are explored. The chapter concludes by speculatively addressing the character (i.e., the form and quality) of modern-day juvenile immigration policy as child-saving informed by the philosophy and criticism of Psychological Jurisprudence (PJ).
Aitin Saadatmeli, Mohamad Bameni Moghadam, Asghar Seif and Alireza Faraz
The purpose of this paper is to develop a cost model by the variable sampling interval and optimization of the average cost per unit of time. The paper considers an…
Abstract
Purpose
The purpose of this paper is to develop a cost model by the variable sampling interval and optimization of the average cost per unit of time. The paper considers an economic–statistical design of the X̅ control charts under the Burr shock model and multiple assignable causes were considered and compared with three types of prior distribution for the mean shift parameter.
Design/methodology/approach
The design of the modified X̅ chart is based on the two new concepts of adjusted average time to signal and average number of false alarms for X̅ control chart under Burr XII shock model with multiple assignable causes.
Findings
The cost model was examined through a numerical example, with the same cost and time parameters, so the optimal of design parameters were obtained under uniform and non-uniform sampling schemes. Furthermore, a sensitivity analysis was conducted in a way that the variability of loss cost and design parameters was evaluated supporting the changes of cost, time and Burr XII distribution parameters.
Research limitations/implications
The economic–statistical model scheme of X̅ chart was developed for the Burr XII distributed with multiple assignable causes. The correlated data are among the assumptions to be examined. Moreover, the optimal schemes for the economic-statistic chart can be expanded for correlated observation and continuous process.
Practical implications
The economic–statistical design of control charts depends on the process shock model distribution and due to difficulties from both theoretical and practical aspects; one of the proper alternatives may be the Burr XII distribution which is quite flexible. Yet, in Burr distribution context, only one assignable cause model was considered where more realistic approach may be to consider multiple assignable causes.
Originality/value
This study presents an advanced theoretical model for cost model that improved the shock model that presented in the literature. The study obviously indicates important evidence to justify the implementation of cost models in a real-life industry.
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Barani Kanth, Ananda Krishnan and Debasmita Sen
India has a distinct family hierarchy and a vertical collectivistic culture. Indian traditional cultural norms discourage young adults from having romantic or sexual relationships…
Abstract
India has a distinct family hierarchy and a vertical collectivistic culture. Indian traditional cultural norms discourage young adults from having romantic or sexual relationships before marriage. Romantic liaisons and marriages are fiercely opposed outside the caste and social network. Despite this cultural practice, research in the last decade demonstrated that more young adults in India engage in premarital romantic relationships and prefer a marriage of choice. However, they strongly wish their parents to approve of their partner and arrange their marriage. This increasing trend of love-cum-arranged marriages could be considered how Indian culture adapts to the demands of modernization strongly impelled by globalization. This chapter discusses the dynamics of change in the romantic and marital agency among young adults in India. First, the authors provide a brief historical introduction to the Indian marital system. Then, the authors discuss the changing cultural dimensions that promote marital choice and independence in partner selection (e.g., filial piety). Further, the authors provide an overview of the trends in premarital romantic relationships in India. In addition, the authors discuss the distress and conflict in Indian families due to the increasing premarital romantic and sexual relationships among Indian youth, as evidenced by eloped marriages, forced marriages, and honor killings.