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Article
Publication date: 6 May 2017

Monica B. Fine, Kimberly Gleason and Michael Mullen

Increasingly, marketing managers are asked to consider the financial implications, in terms of both book and market values, when making strategic decisions. The purpose of this…

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Abstract

Purpose

Increasingly, marketing managers are asked to consider the financial implications, in terms of both book and market values, when making strategic decisions. The purpose of this paper is to investigate the role of marketing expenditures in explaining the variation in the aftermarket performance of a sample of firms conducting initial public offerings (IPOs).

Design/methodology/approach

Theories from marketing and finance – market-based assets (MBA) theory and signaling theory respectively – serve as the conceptual basis of this paper. The results of this study, based on a sample of 2,103 IPOs covering the 1996 to 2008 time period, suggest that increased marketing spending positively impacts aftermarket (i.e. stock price) performance.

Findings

The authors find that while short-run aftermarket performance is positively and significantly impacted by pre-IPO marketing spending, long-run firm performance measures do not appear to be impacted by pre-IPO marketing spending. Further, pre-IPO marketing spending does not incrementally reduce underpricing or improve long-run performance when the IPO takes place during extreme market conditions such as recessions or hot markets, and these results are important to the shareholders and potential investors in the firm.

Research limitations/implications

Theoretically this paper advances the literature on the marketing-finance interface by extending the MBA and signaling theories. For practice, the results indicate that spending more money on marketing before the IPO and disclosing this information produces positive bottom-line results for the firm.

Originality/value

While Luo (2008) documents a significant relationship between the firms’ pre-IPO marketing spending and IPO underpricing, few studies explore the impact of marketing spending on stock price performance beyond the first day of trading. This paper makes three unique contributions. First, the authors extend Luo’s study by investigating the effect of marketing expenditures on underpricing during extreme market conditions. Second, the authors are the first to examine IPO performance in the long-run as well as the short-run. Finally, the authors assess how long-run performance is impacted by marketing spending during extreme market conditions. The findings of this study has implications for managers and shareholders of firms considering going public through a traditional IPO.

Details

Marketing Intelligence & Planning, vol. 35 no. 4
Type: Research Article
ISSN: 0263-4503

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Article
Publication date: 8 April 2019

Michael G. Mullen and Debra Salvucci

For undergraduate-only, AACSB-accredited business programs, establishing a student managed investment fund (SMIF) can be an enormous, but potentially worthwhile, undertaking…

152

Abstract

Purpose

For undergraduate-only, AACSB-accredited business programs, establishing a student managed investment fund (SMIF) can be an enormous, but potentially worthwhile, undertaking. Resources are often very limited – especially for faculty where their time is already consumed by teaching, administrative and publishing requirements. The purpose of this paper is to reflect on the five-year experience at Stonehill College and suggest considerations for undergraduate institutions seeking to establish such programs.

Design/methodology/approach

This is a retrospective on the experience of designing and implementing a SMIF-based academic program. Student education and professional skill development should be the primary outcomes evaluated with such programs. Included are brief perspectives on the program from its alumni with commentary on perceived value in one to four years following graduation.

Findings

The experience to date suggests that establishing a SMIF at a smaller, undergraduate-only institution is challenging. For a SMIF to generate educational returns commensurate with its cost, it needs to be part of a comprehensive, academic-driven program that garners broad support by the business faculty and administration of the college. Personal reflections by its program alumni suggest that it can be a very meaningful academic and experiential learning opportunity.

Research limitations/implications

This paper is focused largely on the experience of one institution. Further insights may be attained by a broader, unbiased analysis of institutions where SMIF programs have succeeded or failed to meet similar objectives.

Practical implications

The authors suggests that the creation of a SMIF program at smaller, undergraduate-only institutions faces unique challenges relative to larger, more well-endowed universities. These challenges can be overcome but not without a broad internal commitment. These programs, if done in a comprehensive way, can significantly impact student outcomes.

Originality/value

The retrospective offers up-to-date insights on the value and challenges of starting a SMIF program at smaller-sized, undergraduate-only academic institutions.

Details

Managerial Finance, vol. 45 no. 5
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 2002

Ana Azevedo, Ellen A. Drost and Michael R. Mullen

Examines critically the bulk of cross‐cultural research involving the constructs of individualism and collectivism. Highlights some of the main conceptual and methodological…

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Abstract

Examines critically the bulk of cross‐cultural research involving the constructs of individualism and collectivism. Highlights some of the main conceptual and methodological shortcomings in the use of these constructs and the need for refinement and synthesis in definition and measurement. Suggests a research strategy that integrates previous empirical findings in a theory‐driven approach. Proposes multiple group confirmatory factor analysis as a technique for confirming a 2‐2 factor structure for individualism and collectivism and for testing the equivalence of their measures across culturally diverse groups.

Details

Cross Cultural Management: An International Journal, vol. 9 no. 1
Type: Research Article
ISSN: 1352-7606

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Article
Publication date: 26 April 2011

Shirley Ye Sheng and Michael R. Mullen

The purpose of this paper is to propose a new model for export market opportunity analysis by combining the marketing‐based overall market opportunity index (OMOI) with the…

5295

Abstract

Purpose

The purpose of this paper is to propose a new model for export market opportunity analysis by combining the marketing‐based overall market opportunity index (OMOI) with the economic‐based gravity model in order to more accurately assess export market potential, in total and for specific industries.

Design/methodology/approach

Variables from the gravity and OMOI models are used to analyze export market opportunities for specific industries. Findings – Market size, economic intensity, geographic and language distance, and regional trade agreements (RTAs) are found to be strong predictors of export market attractiveness from a US firm's perspective. Foreign direct investment (FDI) is found to act as both a substitute for and a complement to exports. Cultural distance, based on Hofstede, is not a significant predictor for exports.

Originality/value

The authors' hybrid model extends previous OMOI models and is applied to industry‐level analysis.

Details

International Marketing Review, vol. 28 no. 2
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 June 2005

Hetty Van Emmerik, S. Gayle Baugh and Martin C. Euwema

This study investigates the influence of affective organizational commitment, career aspirations, and networking activities on propensity to mentor (serving as a mentor and…

2332

Abstract

Purpose

This study investigates the influence of affective organizational commitment, career aspirations, and networking activities on propensity to mentor (serving as a mentor and desiring to become a mentor).

Design/methodology/approach

Data from websurveys of 262 managerial employees of a Dutch bank are analyzed using logistic regression.

Findings

Results indicate that affective organizational commitment is unrelated to propensity to mentor, whereas career aspirations are positively related, and networking activities are negatively related to serving as a mentor, but not desiring to be a mentor.

Research limitations/implications

The study is limited by its reliance on self‐report data and the Dutch culture may have influenced the results of the study to an unknown degree.

Practical implications

Results of this study suggest that employees volunteering to be a mentor are clearly ambitious in terms of their own career, but are not necessarily highly committed to their organization nor do they perform exemplary behaviors in terms of extra role behavior or networking.

Originality/value

Individuals are more likely to engage in mentoring activities and to desire to become a mentor if they have high career aspirations. This relationship may be the result of an instrumental perspective on the part of the mentor, who sees developing a cadre of loyal and supportive organizational members as having a positive effect on his or her own career advancement.

Details

Career Development International, vol. 10 no. 4
Type: Research Article
ISSN: 1362-0436

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Article
Publication date: 11 March 2008

Gary Garrison, Michael Harvey and Nancy Napier

This paper examines the role of managerial curiosity as a critical factor in determining the future impact of disruptive information technologies in a global organization…

613

Abstract

This paper examines the role of managerial curiosity as a critical factor in determining the future impact of disruptive information technologies in a global organization. Specifically, this paper presents curiosity as a managerial characteristic that plays an important role in identifying disruptive information technologies and facilitating their early adoption. Further, it uses resource‐based theory as a theoretical lens to illustrate how managerial curiosity can be a source of sustained competitive advantage. Finally, it examines the individual decision styles that are best suited in assessing disruptive information technologies.

Details

Multinational Business Review, vol. 16 no. 1
Type: Research Article
ISSN: 1525-383X

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Book part
Publication date: 3 September 2003

Michael R Mullen, C.M Sashi and Patricia M Doney

Market entry strategies range from foreign direct investment to licensing with varying levels of commitment, risk and opportunity. Exporting products or services is one of the…

Abstract

Market entry strategies range from foreign direct investment to licensing with varying levels of commitment, risk and opportunity. Exporting products or services is one of the most common of the intermediate market entry strategies. It is typically accomplished through authorized international channels of distribution. However, when significant price differences exist between markets, alternative, parallel channels of distribution are almost certain to arise. These parallel channels, often referred to as gray marketing, are generally legal but unauthorized distribution channels that create an alternative export market entry. After a review of the literature, a case study highlights these complex issues from the perspective of both manufacturer and parallel marketer. The case study provides a tool for evaluating theory and a basis for discussing this important alternative mode of market entry. The case and the discussion which follows also highlight the role of international trade shows as an important element of the marketing mix for entering many foreign markets.

Details

Reviving Traditions in Research on International Market Entry
Type: Book
ISBN: 978-0-76231-044-9

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Article
Publication date: 16 January 2009

Isabelina Nahmens and Michael Mullens

The purpose of this paper is to better define the relationships between product variety and lean production in enabling mass customization in industrialized homebuilding.

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Abstract

Purpose

The purpose of this paper is to better define the relationships between product variety and lean production in enabling mass customization in industrialized homebuilding.

Design/methodology/approach

This study includes a case study analysis of two housing plants that instituted lean production systems. For each company, the case study documented the company's background, the product choice offered, the lean implementation approach used, the results obtained, and the effect of product choice on the lean implementation. Using these case study findings, common trends were identified and used to develop guidelines for an effective mass customization strategy for industrialized homebuilders. This paper summarizes the extensive findings for one of the two plants and provides the recommended guidelines developed from common trends identified at both plants.

Findings

Case study findings indicated that product choice does not necessarily make the implementation of lean concepts more difficult. In fact, good lean concepts (e.g. continuous flow, pull system, workload leveling, defect‐free processes, standard tasks, good visual control, and reliable technology) were also good concepts for (or easily accommodated) handling a range of product choice.

Research limitations/implications

Research findings are limited by the small number of plants involved in the study.

Originality/value

The paper makes an important contribution to the understanding of both lean production and mass customization, identifying the lean principles that facilitate mass customization for industrialized homebuilders. Findings also provide useful guidelines for builders interested in better addressing specific customer needs, while managing the operational complexities resulting from product variety.

Details

Construction Innovation, vol. 9 no. 1
Type: Research Article
ISSN: 1471-4175

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Book part
Publication date: 27 November 2006

Michael R. Mullen and Shirley Ye Sheng

The imperatives of globalization are clear across many industries: firms must look to expand into international markets to survive and thrive. This study complements and extends a…

Abstract

The imperatives of globalization are clear across many industries: firms must look to expand into international markets to survive and thrive. This study complements and extends a growing body of work developing and using overall market opportunity indexes (OMOIs) based on Cavusgil (1997) to rank the attractiveness of potential foreign markets. The index developed in this paper assesses countries’ market potential beyond the traditional measures of market size and economic development by also including political risk, economic freedom, telecommunications as well as physical infrastructure and geographic distance. We provide a current analysis of market attractiveness and opportunity for the largest set of countries indexed and ranked to date, including 24 countries not in previous OMOI studies. The validity of the OMOI is also so assessed for the first time by comparing the ranking of market opportunity to actual subsequent trade flows from the US. Furthermore, we compare the dimensions, variables, samples and results from three of Cavusgil and colleague's previous studies and the two conducted herein. The choice of sample and, to a lesser degree, weights are shown to directly affect the OMOIs and rankings. The modified OMOI is shown to be a flexible, valid and fairly stable tool for preliminary analysis of foreign market opportunity.

Details

International Marketing Research
Type: Book
ISBN: 978-0-76231-369-3

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Article
Publication date: 5 July 2013

Daire Hooper, Joseph Coughlan and Michael R. Mullen

The purpose of this paper is to examine whether the servicescape should be subsumed as a dimension within service quality conceptualizations or whether it is a unique construct in…

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Abstract

Purpose

The purpose of this paper is to examine whether the servicescape should be subsumed as a dimension within service quality conceptualizations or whether it is a unique construct in itself which precedes service quality evaluations and behavioral intentions. The authors both propose and operationalize this model and in doing so make a theoretical contribution by demonstrating how a delineation between these two constructs is necessary in order for theory to progress in this area.

Design/methodology/approach

A total of 355 customers were intercepted as they exited a retail store and surveyed using a structured questionnaire. The data were then analyzed using structural equation modeling to test the research hypotheses.

Findings

This paper finds that it is more appropriate to model the servicescape as a separate construct which precedes service quality thus highlighting a need for a demarcation to be made between these important constructs. In addition, the authors find that design is a significant contributor to behavioral intentions further confirming the necessity to manage service environments in order to generate repatronage behaviors.

Practical implications

Service providers should consider the influence of store environments in shaping service quality perceptions and their subsequent impact on behavioral intentions.

Originality/value

The paper adds to the existing literature by disentangling the complicated relationships between service environments, service quality and behavioral intentions. Furthermore, the findings indicate to practitioners which aspects of the servicescape require attention so as to maximize repatronage intentions.

Details

Journal of Services Marketing, vol. 27 no. 4
Type: Research Article
ISSN: 0887-6045

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