目錄
Corporate Sociopolitical Activism and Firm Value
The Impact of Advertising and R&D on Bankruptcy Survival: A Double-Edged Sword
Collaborative Market Driving: How Peer Firms Can Develop Markets Through Collective Action
Strong Anxiety Boosts New Product Adoption When Hope Is Also Strong
Turning Complaining Customers into Loyal Customers: Moderators of the Complaint Handling–Customer Loyalty Relationship
Speed Up, Size Down: How Animated Movement Speed in Product Videos Influences Size Assessment and Product Evaluation
Tolerating and Managing Failure: An Organizational Perspective on Customer Reacquisition Management
When Less Is More: How Mindset Influences Consumers' Responses to Products with Reduced Negative Attributes
摘要
1. Corporate Sociopolitical Activism and Firm Value
Author：Bhagwat, Yashoda, Warren, Nooshin L., Beck, Joshua T., Watson IV, George F.
Abstract: Stakeholders have long pressured firms to provide societal benefits in addition to generating shareholder wealth. Such benefits have traditionally come in the form of corporate social responsibility. However, many stakeholders now expect firms to demonstrate their values by expressing public support for or opposition to one side of a partisan sociopolitical issue, a phenomenon the authors call "corporate sociopolitical activism" (CSA). Such activities differ from commonly favored corporate social responsibility and have the potential to both strengthen and sever stakeholder relationships, thus making their impact on firm value uncertain. Using signaling and screening theories, the authors analyze 293 CSA events initiated by 149 firms across 39 industries, and find that, on average, CSA elicits an adverse reaction from investors. Investors evaluate CSA as a signal of a firm's allocation of resources away from profit-oriented objectives and toward a risky activity with uncertain outcomes. The authors further identify two sets of moderators: (1) CSA's deviation from key stakeholders' values and brand image and (2) characteristics of CSA's resource implementation, which affect investor and customer responses. The findings provide new and important implications for marketing theory and practice.
2. The Impact of Advertising and R&D on Bankruptcy Survival: A Double-Edged Sword
Author：Jindal, Niket
Abstract: Advertising and research and development (R&D) benefit firms by increasing sales and shareholder value. However, when a firm is in bankruptcy, the cumulative effects of its past advertising and R&D can be a double-edged sword. On the one hand, they increase the firm's expected future cash flow, which increases the likelihood that the bankruptcy court will decide the firm can survive. On the other hand, they increase the liquidation value of the firm's assets, which decreases the likelihood that the bankruptcy court will decide that the firm can survive. The author argues that the ability of advertising and R&D to either increase or decrease bankruptcy survival is contingent on the influence that the firm's suppliers have, relative to other creditors, on the bankruptcy court's decision. Advertising and R&D increase (decrease) bankruptcy survival when suppliers have a high (low) level of influence. Empirical analyses, conducted on 1,504 bankruptcies, show that advertising (R&D) increases bankruptcy survival when at least 35%−38% (18%−21%) of the bankrupt firm's debt has been borrowed from suppliers, whereas it decreases bankruptcy survival below this point. Out-of-sample machine learning validation shows that the ability to predict whether a bankrupt customer will survive is substantially improved by considering the firm's advertising and R&D.
3. Collaborative Market Driving: How Peer Firms Can Develop Markets Through Collective Action
Author：Maciel, Andre F., Fischer, Eileen
Abstract: Firms often aim to develop markets as part of their long-term strategies. Conventionally, research in marketing has explained this complex process by stressing firms' efforts to outdo their peers. While this emphasis is valuable, it overlooks the role of another major force in market evolution: collective action among peer firms. To address this oversight, this article conceptualizes "collaborative market driving," defining it as the collective strategy in which peer firms consistently cooperate among themselves and with other actors to develop markets in ways that increase their overall competitiveness. This conceptualization includes the triggers that lead peer firms to mobilize for collective action and coalesce with other market actors; it also identifies how this coalition converts collective resources into market-driving power. These theoretical contributions, based on a multimethod analysis of the rise of U.S. craft breweries, offer an alternative course of action for firms interested in driving new markets when they lack adequate resources to do so individually.
4. Strong Anxiety Boosts New Product Adoption When Hope Is Also Strong
Author：Lin, Yu-Ting, MacInnis, Deborah J., Eisingerich, Andreas B.
Abstract: New products can evoke anticipatory emotions such as hope and anxiety. On the one hand, consumers might hope that innovative offerings will produce goal-congruent outcomes; on the other hand, they might also be anxious about possible outcomes that are goal-incongruent. The authors demonstrate the provocative and counterintuitive finding that strong anxiety about potentially goal-incongruent outcomes from a new product actually enhances (vs. weakens) consequential adoption intentions (Study 1) and actual adoption (Studies 2 and 3) when hope is also strong. The authors test action planning (a form of elaboration) and perceived control over outcomes as serial mediators to explain this effect. They find that the proposed mechanism holds even after they consider alternative explanations, including pain/gain inferences, confidence in achieving goal-congruent outcomes, global elaboration, affective forecasts, and motivated reasoning. Managerially, the findings suggest that when bringing a new product to market, new product adoption may be greatest when hope and anxiety are both strong. The findings also point to ways in which marketers might enhance hope and/or anxiety, and they suggest that the use of potentially anxiety-inducing tactics such as disclaimers in ads and on packages might not deter adoption when hope is also strong.
5. Turning Complaining Customers into Loyal Customers: Moderators of the Complaint Handling–Customer Loyalty Relationship
Author：Morgeson III, Forrest V., Hult, G. Tomas M., Mithas, Sunil, Keiningham, Timothy, Fornell, Claes
Abstract: Firms spend substantial resources responding to customer complaints, and the marketing profession has a long history of supporting that enterprise to promote customer loyalty. The authors question whether this response is always warranted or whether its effectiveness instead depends on economic, industry, customer–firm, product/service, and customer segment factors that may alter the firm's incentives to compete on complaint management. To consider this question, they integrate economic and marketing theories and investigate factors that influence the complaint recovery–customer loyalty relationship via a sample of 35,597 complaining customers spanning a ten-year period across economic sectors, industries, and firms. Overall, the authors find that the recovery–loyalty relationship is stronger in faster-growing economies, for industries with more competition, for luxury products, and for customers with higher satisfaction and higher expectations of customization. Conversely, the recovery–loyalty relationship is weaker when customers' expectations of product/service reliability are higher, for manufactured goods, and for men compared with women. The authors discuss implications of these results for managers, policy makers, and researchers for more effective management of customer complaints.
6. Speed Up, Size Down: How Animated Movement Speed in Product Videos Influences Size Assessment and Product Evaluation
Author：Jia, He (Michael), Kim, B. Kyu, Ge, Lin
Abstract: Digital ads often display video content in which immobile products are presented as if they are moving spontaneously. Six studies demonstrate a speed-based scaling effect, such that consumers estimate the size of an immobile product to be smaller when it is animated to move faster in videos, due to the inverse size–speed association they have learned from the domain of animate agents (e.g., animals, humans). Supporting a cross-domain knowledge transfer model of learned size–speed association, this speed-based scaling effect is (1) reduced when consumers perceive a product's movement pattern as less similar to animate agents' movement patterns, (2) reversed when a positive size–speed association in the base domain of animate agents is made accessible, (3) attenuated for consumers who have more knowledge about the target product domain, and (4) mitigated when explicit product size information is highlighted. Furthermore, by decreasing assessed product size, fast animated movement speed can either positively or negatively influence willingness to pay, depending on consumers' size preferences.
7. Tolerating and Managing Failure: An Organizational Perspective on Customer Reacquisition Management
Author：Vomberg, Arnd, Homburg, Christian, Gwinner, OliviaAbstract: Although reacquiring customers can lead to beneficial outcomes, reacquisition processes are often unpleasant for employees, who may be required to admit and address failures. Because many organizational environments reward success and punish failure, companies need to understand how to create an organizational environment that stimulates customer reacquisitions. This study investigates the impact of failure-tolerant cultures and formal reacquisition policies on successful customer reacquisition management. Drawing on organizational design theory and psychological ownership theory, the authors find that failure-tolerant cultures have an inverted U-shaped effect on reacquisition performance because moderate failure tolerance increases reacquisition attempts while not inducing more failures or increasing their severity. Formal reacquisition policies, in contrast, have a positive linear relationship. Notably, formal reacquisition policies do not conflict with failure-tolerant cultures but enhance the beneficial effects of failure tolerance on reacquisition performance; formal reacquisition policies provide guidance for reacquisition attempts that failure-tolerant cultures inspire. Finally, results show that customer reacquisition performance is positively related to overall firm financial performance, a finding that emphasizes the managerial and organizational-level importance of reacquisition management.
8. When Less Is More: How Mindset Influences Consumers' Responses to Products with Reduced Negative Attributes
Author：Wong, Vincent Chi, Su, Lei, Lam, Howard Pong-Yuen
Abstract: Marketing communications often describe a reduction in a product's negative attributes (e.g., "our mineral water now uses 34% less plastic"). This claim may be interpreted as a trend of improving relative to previous state. However, such a claim may also call attention to a negative product feature that might have otherwise been overlooked. The authors suggest that whether consumers are positively or negatively influenced by such claims depends on whether the claims are interpreted through an incremental or entity mindset. When a reduction in negative attributes is viewed through an incremental mindset—the tendency to think of attributes as malleable—a trend-based interpretation results in improved product evaluations. In contrast, an entity mindset that emphasizes attributes are unlikely to change produces a negative effect for the claim. Four experiments and a field survey (N = 2,543) across food, pharmaceuticals, and plastic bottle products confirm the effects and indicate that the effects diminish when consumers believe the attribute is easy to eliminate or when the attribute has extremely threatening consequences. The opposite is observed for claims of reduced positive attributes, such that an entity mindset produces more positive evaluations. The findings offer marketers consumer insights to guide the communication of negatively framed attributes.
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