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Article
Publication date: 20 May 2022

Huifeng Pan, Zhiqiang Liu and Hong-Youl Ha

Prior hospitality studies have reviewed review trustworthiness and perceived price as predictors of restaurant selection. However, the impacts of these two factors may vary by…

1879

Abstract

Purpose

Prior hospitality studies have reviewed review trustworthiness and perceived price as predictors of restaurant selection. However, the impacts of these two factors may vary by sales promotion and customer types. This study aims to determine whether sales promotions and customer type are the key elements that facilitate behavioral intentions by moderating the linkage between perceived price and behavioral intentions as well as the linkage between online review trustworthiness and behavioral intentions.

Design/methodology/approach

Analysis of the responses of 533 individuals familiar with the Michelin Guide for restaurants in Seoul provided evidence supporting a sales promotion theory wherein promotions signal benefits in consumers’ minds.

Findings

The findings show that when perceived price is positive and the trustworthiness of online reviews is high, repeat customers prefer mixed coupons to price discounts. Notably, the results indicate that when the trustworthiness of online reviews is high, first-time customers also prefer mixed coupons to price discounts. Furthermore, the findings suggest that negative evaluations of perceived price increase the impact of mixed coupons by signaling to first-time customers that given restaurants’ offerings provide monetary benefits regardless of their intentions to revisit said restaurants.

Research limitations/implications

The study findings provide insights that should help managers better understand various levels of promotion. Managers can design their pricing strategies to strengthen customers’ motivations to visit their restaurants – the very thing customers often seek in sales promotions.

Originality/value

This study provides indisputable evidence for a sales promotion theory, wherein promotions signal benefits in consumers’ minds; however, it also shows that first-time and repeat customers do not respond equally to sales promotions.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 10
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 19 June 2019

Huifeng Pan and Hong-Youl Ha

Changes in consumers’ awareness of interest rates (deposits and loans) are important for making financial decisions, particularly in the banking industry. However, little is known…

648

Abstract

Purpose

Changes in consumers’ awareness of interest rates (deposits and loans) are important for making financial decisions, particularly in the banking industry. However, little is known about the effect of consumer awareness on customer orientation and loyalty. The purpose of this paper is to examine how changes in consumers’ awareness of interest rates in Korea can influence customer loyalty, considering banks’ efforts to improve customer orientation. The authors explicitly rationalize the fact that consumers’ awareness of interest rates can play an important role in moderating the strength of the relationship between customer orientation and loyalty.

Design/methodology/approach

The data were collected from participants (n=327) who had made banking transactions based on their real income in Seoul. Participants mainly focused on personal loans and debts, and most people had banked with a specific bank (one of the main Korean banks) for longer than three years. The authors tested the effect of interest rates using two methodologies, namely, a field study using SEM and an experimental design.

Findings

The study tested these relationships with survey data and two simulated experiments. The findings indicated that the influence of customer orientation on customer loyalty decreased with the increase in loan interest rate awareness. Moreover, the customer orientation-loyalty link weakened with the increase in awareness of central bank base rates. Conversely, the awareness that loan rates were decreasing strengthened the relationship.

Research limitations/implications

Banks need to know the importance of periodic consultation services with valuable consumers who transact with one or more banks because changes in the consumer awareness of interest rates influence customer loyalty (or switching behavior), particularly when their awareness of loan interest rates increases.

Originality/value

This paper is, to the best of the authors’ knowledge, the first to investigate the consequence of such a change in consumers’ awareness of both deposit and loan interest rates with regard to the relationship between customer orientation and loyalty.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 32 no. 1
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 1 December 2021

Huifeng Pan and Hong-Youl Ha

This study aims to explore the moderating outcomes of mobile promotions in three parts. First, Study 1 is conducted to discover the moderating effect of mobile promotions when…

1334

Abstract

Purpose

This study aims to explore the moderating outcomes of mobile promotions in three parts. First, Study 1 is conducted to discover the moderating effect of mobile promotions when consumers initially purchase a restaurant service. Second, Study 2 investigates how the promotion level during subsequent purchasing events moderates the relationship between attitudes toward selecting a restaurant brand (ATRB) and repurchase intentions. Third, the study compares mobile promotion effects between the initial purchase stage and subsequent purchase state.

Design/methodology/approach

Two studies are conducted to test the hypotheses. Using a longitudinal survey, Study 1 demonstrates the moderating role of mobile promotions (M-promotions) during the initial restaurant choice stage (T). Study 2 extends these findings to the reordering stage (T+1).

Findings

The results of Study 1 show that price discounts are much more impactful than free delivery when food quality and online reviews are positive. Study 2 shows that price discounts have more substantial effects than gifts at time T+1 when ATRB is positive. The findings are relevant to both scholars and managers, adding insights to discussions on promotions arising from the evolution of consumption experiences.

Research limitations/implications

Promotions differ in financial value; hence, comparisons of promotional packages may vary during subsequent purchase states, helping to explain subsequent promotion stages and enabling scholars to understand their impact on the food reordering context.

Originality/value

The fact that no empirical studies have examined the roles of M-promotions during subsequent purchasing stages constitutes a significant gap in extant promotion research. Therefore, this study seeks to fill this gap by providing robust evidence to demonstrate these effects and related temporal mechanisms. Additionally, although the literature on promotion is used mostly in cross-sectional studies, this study addresses a common challenge to reveal dynamics of promotion levels during subsequent consumption periods.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 2
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 6 August 2018

Hong-Youl Ha and Huifeng Pan

The purpose of this paper is to develop and test a dynamic model of security-based consumer purchasing intentions and empirically addresses gaps in online purchasing theory by…

1233

Abstract

Purpose

The purpose of this paper is to develop and test a dynamic model of security-based consumer purchasing intentions and empirically addresses gaps in online purchasing theory by examining how loyalty intention may become stronger or weaker over time as a result of prior relationship evaluations.

Design/methodology/approach

Using a longitudinal study (three-time waves) of commercial website consumers, the authors investigate the proposed model by depicting the relationships among perceived security, perceived risk, website trust and loyalty intentions.

Findings

The results show that two relationships, namely the perceived security-perceived risk link and the perceived risk-website trust link, which have been little investigated on a longitudinal basis in previous studies, change over time. Interestingly, while social network service (SNS) information perceptions do not have direct effects on perceived risk or loyalty intention, the relationships in which either perceived security and website trust are involved are more important for positively improving perceived security and building website trust.

Practical implications

The authors suggest that managers may actually benefit from handling SNS information or social communities by delivering well-designed information at strategic stages, targeting key constructs.

Originality/value

The research contributes to the establishment and testing of temporal carryover effects of various online purchasing-related constructs: perceived security, perceived risk, trust and loyalty intention. More specifically, the longitudinal approach provides new insights regarding the role, potential impact and limitations of two types of perception. It thus highlights how understanding loyalty intention requires reevaluating consumer perceptions as consumers’ judgments evolve.

Details

Internet Research, vol. 28 no. 4
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 16 October 2017

Huifeng Pan, Man-Su Kang and Hong-Youl Ha

Although the study of credit ratings has focused on traditional credit bureau resources, scholars have recently emphasized the importance of big data. The purpose of this paper is…

645

Abstract

Purpose

Although the study of credit ratings has focused on traditional credit bureau resources, scholars have recently emphasized the importance of big data. The purpose of this paper is to examine both how these data affect the credit evaluations of small businesses and how financial managers use them to stabilize their risks.

Design/methodology/approach

Using data from 97,889 data points for normal guarantees and 1,678 data points for accidents in public funds, the authors explore the effects of trade area grades as well as the superiority of the use of big data when evaluating credit ratings for small businesses.

Findings

The results indicate that the grade information of trade areas is useful in predicting accident rates, particularly for small businesses with high credit scores (AAA-A). On the other hand, the accident rates of small businesses with low credit scores increased from 3.15-16.67 to 3.20-33.3 percent. These findings demonstrate that accident rates for the businesses with high credit scores decrease, but accident rates for businesses with low credit scores increase when using the grades of trade areas.

Originality/value

The authors contribute to the literature in two ways. First, this study provides one of the first investigations on information on trade areas through public financial perspectives, thereby extending the financial risk and retail literature. Second, the current study extends the research on the credit evaluation of small businesses through the big data application of real transaction-based trade areas, answering the call of Park et al. (2012), who recommended an exploration of the relationship between business start-ups and financial risk.

Details

Management Decision, vol. 55 no. 9
Type: Research Article
ISSN: 0025-1747

Keywords

Available. Open Access. Open Access
Article
Publication date: 7 August 2017

Chunlin Zhou, Huifeng Wu, Xiang Xu, Yong Liu, Qi Zhu and Shuwen Pan

The purpose of this paper is to propose a robotic system for percutaneous surgery. The key component in the system, a robotic arm that can manipulate a puncture needle is…

4674

Abstract

Purpose

The purpose of this paper is to propose a robotic system for percutaneous surgery. The key component in the system, a robotic arm that can manipulate a puncture needle is presented. The mechanical design, the motion control and the force control method of the robotic arm are discussed in the paper.

Design/methodology/approach

The arm with an arc mechanism placed on a 3D Cartesian stage is developed as a puncture needle manipulator to locate the position of the needle tip, tune the needle’s posture and actuate the puncture motion under the visual guidance of two orthogonal X-ray images of a patient by a surgeon. A focusing method by using two laser spots is proposed to automatically move the needle tip to a surgery entry point on the skin. A dynamics model is developed to control the position of the needle mechanism and an explicit force control strategy is utilized to perform the needle insertion.

Findings

With the surgical system, a surgeon can easily perform puncture operation by taking two orthogonal real-time X-ray images as a visual feedback and accurately navigating the needle insertion. The laser-guided focusing method is efficient in placement of the needle tip. The explicit force control strategy is proved to be effective for holding constant and stable puncture force in experiments.

Originality/value

The robotic arm has an advantage in easy redirection of the needle because the rotation and the translation are decoupled in the mechanism. By adopting simple laser pens and a well-developed kinematics model, the system can handle the entry point, locating task automatically. The focusing method and the force control method proposed in the paper are useful for the present system and could be intuitive for similar surgical robots.

Details

Assembly Automation, vol. 37 no. 3
Type: Research Article
ISSN: 0144-5154

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Article
Publication date: 10 May 2018

Xiaodong Xu and Huifeng Xu

On the basis of principal-agent and financing constraints theories, the purpose of this paper is to construct a unified research framework via mathematical models and to provide a…

1541

Abstract

Purpose

On the basis of principal-agent and financing constraints theories, the purpose of this paper is to construct a unified research framework via mathematical models and to provide a logical and consistent explanation of the contradictory discovery of the relationship between dividend payment and I-CFO in the previous literature.

Design/methodology/approach

Establishing the economic mathematical models, this paper uses the comparative static analysis to figure out the equilibrium results, to further testify the conclusions, the authors initiate the empirical tests to make the discussion more realistic.

Findings

The authors observe that overinvestment caused by agency problems is the primary reason for I-C sensitivity when the investment expenditure is less than the internal capital; dividend payout suppresses the overinvestment caused by the agency problem, thus alleviating the investment’s dependence on the internal capital. However, underinvestment caused by the financing constraints is the primary cause of I-C sensitivity when the investment expenditure is greater than the internal capital. The payment of cash dividends increases the investment shortage caused by the financing constraints, thus increasing the sensitivity. Further, the authors explore the impact of dividend payments on I-CFO sensitivity. They argue that dividend payment is not an appropriate measure of financing constraints. Both I-CFO sensitivity and I-C sensitivity are functions of agency cost and information cost.

Research limitations/implications

This study provides a logical and consistent explanation of the contradictory discovery of the relationship between dividend payment and I-CFO in the previous literature and provides a clear framework and reference for future studies on the impact of financial constraints, agency cost on the investment’s dependence on the internal capital.

Practical implications

The theoretical model of this paper supports this differentiated mandatory dividend policy and provides reference and evidence for China's financing policies and dividend distribution policies.

Originality/value

This study theoretically and empirically analyzes and verifies the roles of agency cost and financial constraints on the determinants of I-C sensitivity for the first time. First, different from earlier literature, this paper puts forward I-C sensitivity as a new measure of investment’s dependence on internal capital, making the measurement more accurate. In the case of a firm with positive liquidity reserves, using the I-CFO sensitivity as a measure of external financing constraints could overestimate the firm’s financial constraints. Second, by constructing an economic static analysis framework, this study analyzes how I-C and I-CFO sensitivities change with the agency cost, the financing constraints and the dividend payment ratio. The research provides a basic framework and explanation on the contradictions of the earlier literature. The results are supposed to serve as a foundation for estimations of investment’s dependence on internal capital and should be embedded in general empirical tests in future research.

Details

China Finance Review International, vol. 9 no. 2
Type: Research Article
ISSN: 2044-1398

Keywords

Available. Open Access. Open Access
Article
Publication date: 14 April 2022

Deepak Saxena, Mairead Brady, Markus Lamest and Martin Fellenz

This study aims to provide more insight into how customer voice is captured and used in managerial decision-making at the marketing-finance interface. This study’s focus is on…

3263

Abstract

Purpose

This study aims to provide more insight into how customer voice is captured and used in managerial decision-making at the marketing-finance interface. This study’s focus is on understanding how the customer voice, often communicated through online and social media platforms, is used in high-performing hotels.

Design/methodology/approach

This research is based on a case study of four high-performing Irish hotels. For each case, multiple informants, including marketing managers, general managers and finance managers, were interviewed and shadowed. Twenty seven decisions across the four cases were analysed to assess the use of customer voice in managerial decision-making.

Findings

Social media provides a stage that has empowered the customer voice because of the public nature of the interaction and the network effect. Customer voice is incorporated in managerial decision-making in three distinct ways – symbolically as part of an early warning system, for action-oriented operational decisions and to some extent in the knowledge-enhancing role for tactical decisions. While there is a greater appreciation among senior managers and the finance and accounting managers of the importance of customer voice, this study finds clear limits in its utilisation and more reliance on traditional finance and accounting data, especially in strategic decision-making.

Research limitations/implications

The cases belong to a highly visible open environment of hotels in an industry where customer voice has immediate and strong effects. The findings may not directly apply to industries characterised by a relatively more closed context such as banking or insurance. Moreover, the findings reflect the practices of high-performing hotels and do not necessarily capture the practices used in less successfully operating hotels.

Practical implications

While marketers need to enhance their ability to create a narrative that links the customer voice to revenue generation, finance managers also need to develop a skillset and adopt a mindset that appropriately reflects the influential role for customer voice in managerial decision-making.

Originality/value

Despite the linkage of marketing performance to business performance, there is limited research on the impact of customer information on managerial decision-making. This research provides insight into how customer voice is considered at the critical marketing-finance interface.

Details

Qualitative Market Research: An International Journal, vol. 25 no. 3
Type: Research Article
ISSN: 1352-2752

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Article
Publication date: 28 July 2021

Yue Long, Lang Lu and Pan Liu

The purpose of this paper is to solve the problem of low efficiency on knowledge resources allocation in the strategic emerging industry (SEI), an incentive model of technology…

254

Abstract

Purpose

The purpose of this paper is to solve the problem of low efficiency on knowledge resources allocation in the strategic emerging industry (SEI), an incentive model of technology innovation based on knowledge ecological coupling is designed.

Design/methodology/approach

First, a principal–agent model of knowledge inputs and a knowledge ecological coupling model based on an improved Lotka–Volterra model are constructed. In addition, a numerical example about Chongqing Yongchuan industrial park, the emulation analysis and the associated discussions are conducted to analyze the equilibriums of principal–agent in different knowledge inputs. Further, the paper analyzes the evolutionary equilibrium in knowledge ecological coupling and reveals the dual adjustments of the node organization on knowledge inputs.

Findings

Thus, this paper shows that by establishing the relationships of knowledge ecological coupling based on “mutualism and commensalism,” node organization raises the level of knowledge inputs; an incentive mode of “knowledge ecological coupling relationship + technology innovation chain” is conductive to substantially improving the efficiency of knowledge resource allocation, and to stimulate the vitality of node organization for technology innovation in the strategic emerging industry (SEI).

Originality/value

This paper contributes to the extant researches in two ways. First, this paper reveals the dual adjustments of the node organizations in inputting knowledge, which broadens the vision and borders of the researches on traditional knowledge management. The methods of the traditional principal–agent model and the knowledge input/output profit model are also expanded. Second, this paper verifies that applying the mode of “knowledge ecological coupling relationship + technology innovation chain” in practice is conducive to enhancing the efficiency of the cross-organizational knowledge allocation in the strategic emerging industry (SEI).

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Article
Publication date: 14 February 2024

Qian Zhou, Shuxiang Wang, Xiaohong Ma and Wei Xu

Driven by the dual-carbon target and the widespread digital transformation, leveraging digital technology (DT) to facilitate sustainable, green and high-quality development in…

975

Abstract

Purpose

Driven by the dual-carbon target and the widespread digital transformation, leveraging digital technology (DT) to facilitate sustainable, green and high-quality development in heavy-polluting industries has emerged as a pivotal and timely research focus. However, existing studies diverge in their perspectives on whether DT’s impact on green innovation is synergistic or leads to a crowding-out effect. In pursuit of optimizing the synergy between DT and green innovation, this paper aims to investigate the mechanisms that can be harnessed to render DT a more constructive force in advancing green innovation.

Design/methodology/approach

Drawing from the theoretical framework of resource orchestration, the authors offer a comprehensive elucidation of how DT intricately influences the green innovation efficiency of enterprises. Given the intricate interplay within the synergistic relationship between DT and green innovation, the authors use the fuzzy-set qualitative comparative analysis method to explore diverse configurations of antecedent conditions leading to optimal solutions. This approach transcends conventional linear thinking to provide a more nuanced understanding of the complex dynamics involved.

Findings

The findings reveal that antecedent configurations fostering high green innovation efficiency actually differ across various stages. First, there are three distinct configuration patterns that can enhance the green technology research and development (R&D) efficiency of enterprises, namely, digitally driven resource integration (RI), digitally driven resource synergy (RSy) and high resource orchestration capability. Then, the authors also identify three configuration patterns that can bolster the high green achievement transfer efficiency of enterprises, including a digitally optimized resource portfolio, digitally driven RSy and efficient RI. The findings not only contribute to advancing the resource orchestration theory in the digital ecosystem but also provide empirical evidence and practical insights to support the sustainable development of green innovation.

Practical implications

The findings can offer valuable insights for enterprise managers, providing decision-making guidance on effectively harnessing the innovation-driven value of internal and external resources through resource restructuring, bundling and leveraging, whether with or without the support of DT.

Social implications

The research findings contribute to heavy-polluting enterprises addressing the paradoxical tensions between digital transformation and resource constraints under environmental regulatory pressures. It aims to facilitate the simultaneous achievement of environmental and commercial success by enhancing their green innovation capabilities, ultimately leading to sustainability across profit and the environment.

Originality/value

Compared with previous literature, this research introduces a distinctive theoretical perspective, the resource orchestration view, to shed light on the paradoxical relationship on resource-occupancy between DT application and green innovation. It unveils the “black box” of how digitalization impacts green innovation efficiency from a more dynamic resource-based perspective. While most studies regard green innovation activities as a whole, this study delves into the impact of digitalization on green innovation within the distinct realms of green technology R&D and green achievement transfer, taking into account a two-stage value chain perspective. Finally, in contrast to previous literature that predominantly analyzes influence mechanisms through linear impact, the authors use configuration analysis to intricately unravel the complex influences arising from various combinatorial relationships of digitalization and resource orchestration behaviors on green innovation efficiency.

Details

Sustainability Accounting, Management and Policy Journal, vol. 15 no. 4
Type: Research Article
ISSN: 2040-8021

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