Consumer willingness to pay for locally produced hard cider in the USA

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kimberly Lynn Jensen ◽  
Karen Lewis DeLong ◽  
Mackenzie Belen Gill ◽  
David Wheeler Hughes
Keyword(s):  
Consumer Preferences ◽  
Alcoholic Beverages ◽  
Cross Sectional ◽  
Content Type ◽  
Apple Cider ◽  
Consumer Demographics ◽  
Factors Influencing ◽  
The Usa ◽  
Targeted Marketing ◽  
Sectional Analysis

Purpose This study aims to determine whether consumers are willing to pay a premium for locally produced hard apple cider and examine the factors influencing this premium. This study examines the influence of hard apple cider attributes and consumer characteristics on consumer preferences for local hard apple cider. Design/methodology/approach Data from a 2019 survey of 875 Tennessee consumers regarding their preferences for a local hard apple cider were obtained. Probit estimates were used to calculate the premium consumers were willing to pay for a locally made hard apple cider and factors influencing this premium. A multivariate probit was used to ascertain factors influencing the importance of attributes (e.g. heirloom apples, sweetness/dryness, sparking/still and no preservatives added) on local hard apple cider preference. Findings Consumers would pay a $3.22 premium for local hard apple cider compared with a $6.99 reference product. Local foods preferences, urbanization, weekly purchases of other alcoholic beverages and shopping venues influenced premium amounts. Other important attributes were sweetness/dryness and no preservatives. Influence of consumer demographics suggests targeted marketing of local ciders could be successful. Originality/value Few studies examine consumer preferences for hard apple ciders. This study represents a cross-sectional analysis of the premium consumers would pay for local hard apple ciders and the importance of other hard apple cider attributes.

Disclosure readability of firms investigated for books-and-records infractions

2020 ◽  
Vol 18 (1) ◽  
pp. 131-145
Author(s):  
Christopher Demaline
Keyword(s):  
Impression Management ◽  
Publicly Traded ◽  
Cross Sectional ◽  
Content Type ◽  
Unique Nature ◽  
The Usa ◽  
Financial Disclosures ◽  
The Difference ◽  
Sectional Analysis ◽  
Readability Level

Purpose The paper examines the difference in the disclosure readability of SEC investigated firms and the population of firms traded in the USA. This study aims to further refine the obfuscation hypothesis and broader impression management theory. Design/methodology/approach The paper used quantitative cross-sectional analysis of archival data gathered from the SEC Accounting and Auditing Enforcement Release Archive and the SEC EDGAR database. A one-sample t-test was used to compare mean readability levels. Findings The paper provides empirical evidence to support the assertion that disclosures of the firms being investigated for “books-and-records” infractions are more difficult to read than the disclosure of the average publicly-traded firm in the USA. Research limitations/implications First, the study did not make direct matched-pairs comparisons of the readability level. Second, the unique nature of the sample means that the results may not be generalizable. Further research is necessary to expand on this current work. Practical implications The paper includes implications for consideration by accounting standards setters, financial regulators and annual report readers. Originality/value This paper addresses an identified need to study the existence and degree of complexity and obfuscation in financial disclosures.

Does uncertainty boost overconfidence? The case of financial analysts' forecasts

2014 ◽  
Vol 40 (3) ◽  
pp. 300-324 ◽  
Author(s):  
Véronique Bessière ◽  
Taoufik Elkemali
Keyword(s):  
Stock Returns ◽  
Private Information ◽  
High Tech ◽  
Cross Sectional ◽  
Forecast Dispersion ◽  
Content Type ◽  
The Public ◽  
Public Announcement ◽  
Before And After ◽  
Sectional Analysis

Purpose – This article aims to examine the link between uncertainty and analysts' reaction to earnings announcements for a sample of European firms during the period 1997-2007. In the same way as Daniel et al., the authors posit that overconfidence leads to an overreaction to private information followed by an underreaction when the information becomes public. Design/methodology/approach – In this study, the authors test analysts' overconfidence through the overreaction preceding a public announcement followed by an underreaction after the announcement. If overconfidence occurs, over- and underreactions should be, respectively, observed before and after the public announcement. If uncertainty boosts overconfidence, the authors predict that these two combined misreactions should be stronger when uncertainty is higher. Uncertainty is defined according to technology intensity, and separate two types of firms: high-tech or low-tech. The authors use a sample of European firms during the period 1997-2007. Findings – The results support the overconfidence hypothesis. The authors jointly observe the two phenomena of under- and overreaction. Overreaction occurs when the information has not yet been made public and disappears just after public release. The results also show that both effects are more important for the high-tech subsample. For robustness, the authors sort the sample using analyst forecast dispersion as a proxy for uncertainty and obtain similar results. The authors also document that the high-tech stocks crash in 2000-2001 moderated the overconfidence of analysts, which then strongly declined during the post-crash period. Originality/value – This study offers interesting insights in two ways. First, in the area of financial markets, it provides a test of a major over- and underreaction model and implements it to analysts' reactions through their revisions (versus investors' reactions through stock returns). Second, in a broader way, it deals with the link between uncertainty and biases. The results are consistent with the experimental evidence and extend it to a cross-sectional analysis that reinforces it as pointed out by Kumar.

Leader positive humor and organizational cynicism: LMX as a mediator

2014 ◽  
Vol 35 (4) ◽  
pp. 305-315 ◽  
Author(s):  
Panagiotis Gkorezis ◽  
Eugenia Petridou ◽  
Panteleimon Xanthiakos
Keyword(s):  
Mediating Effect ◽  
Hierarchical Regression ◽  
Public Employees ◽  
Cross Sectional ◽  
Content Type ◽  
Organizational Cynicism ◽  
Member Exchange ◽  
Sectional Analysis ◽  
The Impact ◽  
The Relationship

Purpose – Leader-member exchange (LMX) has been proposed as a core mechanism which accounts for the impact of various antecedents on employee outcomes. As such, the purpose of this paper is to examine the mediating effect of LMX regarding the relationship between leader positive humor and employees’ perceptions of organizational cynicism. Design/methodology/approach – Data were collected from 114 public employees. In order to examine the authors’ hypotheses hierarchical regression analysis was conducted. Findings – As hypothesized, results demonstrated that LMX mediates the relationship between leader positive humor and organizational cynicism. Research limitations/implications – Data were drawn from public employees and, therefore, this may constrain the generalizability of the results. Also, the cross-sectional analysis of the data cannot directly assess causality. Originality/value – This is the first empirical study to examine the mediating effect of LMX in the relationship between leader humor and employees’ perceptions of organizational cynicism.

scholarly journals Characteristics of registered clinical trials assessing treatments for COVID-19: a cross-sectional analysis

BMJ Open ◽  
2020 ◽  
Vol 10 (6) ◽  
pp. e039978 ◽  
Author(s):  
Hemalkumar B Mehta ◽  
Stephan Ehrhardt ◽  
Thomas J Moore ◽  
Jodi B Segal ◽  
G Caleb Alexander
Keyword(s):  
Clinical Trials ◽  
Clinical Investigation ◽  
Scientific Progress ◽  
Cross Sectional ◽  
Design Elements ◽  
Cross Sectional Analysis ◽  
Therapeutic Benefits ◽  
Wide Range ◽  
The Usa ◽  
Sectional Analysis

ObjectivesThe coronavirus disease 2019 (COVID-19) pandemic has prompted many initiatives to identify safe and efficacious treatments, yet little is known regarding where early efforts have focused. We aimed to characterise registered clinical trials assessing drugs or plasma treatments for COVID-19.Design, setting and participantsCross-sectional analysis of clinical trials for the treatment of COVID-19 that were registered in the USA or in countries contributing to the WHO’s International Clinical Trials Registry Platform. Relevant trial entries of drugs or plasma were downloaded on 26 March 2020, deduplicated, verified with reviews of major medical journals and WHO websites and independently analysed by two reviewers.Main outcome(s)Trial intervention, sponsorship, critical design elements and specified outcomesResultsOverall, 201 clinical trials were registered for testing the therapeutic benefits of 92 drugs or plasma, including 64 in monotherapy and 28 different combinations. Only eight (8.7%) products or combinations involved new molecular entities. The other test therapies had a wide range of prior medical uses, including as antivirals, antimalarials, immunosuppressants and oncology treatments. In 152 trials (75.7%), patients were randomised to treatment or comparator, including 55 trials with some form of blinding and 97 open-label studies. The 49 (24.4%) of trials without a randomised design included 29 single armed studies and 20 trials with some comparison group. Most trial designs featured multiple endpoints. Clinical endpoints were identified in 134 (66.7%) of trials and included COVID-19 symptoms, death, recovery, required intensive care and hospital discharge. Clinical scales were being used in 33 (16.4%) trials, most often measures of oxygenation and critical illness. Surrogate endpoints or biomarkers were studied in 88 (42.3%) of trials, primarily assays of viral load. Although the trials were initiated in more than 17 countries or regions, 100 (49.8%) were registered in China and 78 (37.8%) in the USA. Registered trials increased rapidly, with the number of registered trials doubling from 1 March to 26 March 2020.ConclusionsWhile accelerating morbidity and mortality from the COVID-19 pandemic has been paralleled by early and rapid clinical investigation, many trials lack features to optimise their scientific value. Global coordination and increased funding of high-quality research may help to maximise scientific progress in rapidly discovering safe and effective treatments.

Are financial derivatives tax havens? Evidence from China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wanyi Chen
Keyword(s):  
Stock Exchange ◽  
Tax Avoidance ◽  
Financial Derivatives ◽  
Relevant Research ◽  
Cross Sectional ◽  
Tax Havens ◽  
Content Type ◽  
Potential Risks ◽  
New Perspective ◽  
Sectional Analysis

PurposeThe purpose of this study was to examine whether the use of financial derivatives by business enterprises can avoid taxes and whether tax authorities can detect and effectively enforce measures regarding this emerging tax avoidance method.Design/methodology/approachUsing panel data from the Shanghai and Shenzhen Stock Exchange listed companies from 2008 to 2019, this study used the Heckman self-selection two-stage model and a cross-sectional analysis to test a total of 22,578 samples. Moreover, propensity score matching (PSM), instrumental variable and Heckman MLE methods were conducted in the robustness test.FindingsThe results showed that enterprises could use financial derivatives to avoid taxation. The greater the tax effort is, the more obvious the effect of the company's use of financial derivatives for tax avoidance, which proves challenging for tax authorities to identify and manage.Originality/valueThis study expands on research on corporate tax avoidance and provides a new perspective for the study of financial derivatives. Moreover, it improves relevant research in the field of tax regulation, offering practical guidance for tax authorities to govern the use of financial instruments to prevent potential risks effectively.

Fear of terrorism and its correlates in young men and women from the United States and South Korea

2020 ◽  
Vol 12 (1) ◽  
pp. 21-32
Author(s):  
Fang Hong ◽  
Yijing Lin ◽  
Mikyung Jang ◽  
Amanda Tarullo ◽  
Majed Ashy ◽  
...  
Keyword(s):  
College Students ◽  
Social Anxiety ◽  
South Korea ◽  
Moral Disengagement ◽  
The United States ◽  
Negative Outcomes ◽  
Cross Sectional ◽  
Content Type ◽  
Mediation Analyses ◽  
The Usa

Purpose The purpose of this study was to examine associations between fear of terrorism and several predictors (gender and nationality) and outcomes (moral disengagement, authoritarianism, aggression and social anxiety) in the USA and South Korean young adults. Of particular interest were the potential moderating and mediating roles of moral disengagement between fear of terrorism and the other outcomes. Design/methodology/approach Samples of 251 college students from the USA and 211 college students from South Korea completed survey packets including measures of fear of terrorism, moral disengagement, authoritarianism, aggression and social anxiety. Findings US participants expressed greater concern about a terrorist threat to their country, while South Koreans worried more about terrorist threats to their family or themselves. Females in both countries reported greater fear of terrorism and social anxiety. In both countries, fear of terrorism was associated with aggression, social anxiety and moral disengagement. Mediation analyses showed that fear of terrorism exerted a significant direct effect and an indirect effect via moral disengagement on aggression and authoritarianism in the US sample. Moderation analyses revealed that moral disengagement moderated the relationship between fear of terrorism and social anxiety in the Korean sample. Research limitations/implications This study has the common limitations of cross-sectional studies; i.e. it cannot prove causal relationships. Practical implications The findings support Albert Bandura’s view that efforts to address the excesses of counterterrorism and other negative outcomes of fear of terrorism, attending to issues of moral disengagement may be helpful. Originality/value The authors findings provide support for the view that fear of terrorism is associated with negative psychological and social outcomes and that moral disengagement can play an important role in those negative outcomes. Moreover, it adds to evidence that the negative role of moral disengagement shows considerable generalizability across gender and two very different cultures.

Determinants of return-on-equity in USA, German and Japanese manufacturing firms

2019 ◽  
Vol 45 (3) ◽  
pp. 445-451 ◽  
Author(s):  
Stephanie M. Weidman ◽  
Daniel J. McFarland ◽  
Gulser Meric ◽  
Ilhan Meric
Keyword(s):  
Manufacturing Industry ◽  
Financial Analysis ◽  
Important Determinant ◽  
Multivariate Regression Analysis ◽  
Manufacturing Firms ◽  
Firm Level ◽  
Cross Sectional ◽  
Content Type ◽  
Return On Equity ◽  
The Usa

Purpose DuPont financial analysis is generally used in micro-economic studies to compare an individual firm’s financial performance with industry averages. The purpose of this paper is to undertake a macro-economic cross-sectional analysis of the determinants of return-on-equity (ROE) in USA, German and Japanese manufacturing firms. Design/methodology/approach The authors use cross-sectional log-linear multivariate regression analysis to determine the elasticity of ROE to changes in net profit margin (NPM), total assets turnover (TAT) and equity multiplier (EQM) in USA, German and Japanese manufacturing firms. The authors obtain the data for the analysis from the COMPUSTAT Research Insight/Global Vintage database. Findings With data for all manufacturing firms, the authors find that the most important determinant of ROE is NPM in all three countries. The least important determinant of ROE is TAT in the USA and Germany, and EQM in Japan. Electronics is the most important manufacturing industry in all three countries, the authors also apply the analysis to data for the electronics manufacturing firms in the three countries. The authors find that an increase of 10 percent in NPM increases ROE by about 9.8 percent in Germany, by about 8.3 percent in the USA, and by about 6.9 percent in Japan. An increase of 10 percent in TAT increases ROE by about 2.2 percent in Germany and by about 1.5 percent in Japan. An increase of 10 percent in EQM increases ROE by about 1.9 percent in Germany and by about 1.5 percent in the USA. Practical implications The empirical findings of this study can provide useful insights for financial managers regarding the determinants of ROE they should focus on to achieve the greatest impact on ROE. Originality/value DuPont analysis is generally used as a micro-economic tool at the firm level. This study is a macro-economic application of the tool to study the cross-sectional determinants of ROE at the industry level.

Digital transformation of global business processes: the role of dual embeddedness

2019 ◽  
Vol 26 (2) ◽  
pp. 570-592
Author(s):  
Peter Ekman ◽  
Peter Thilenius ◽  
Steven Thompson ◽  
Jonathan Whitaker
Keyword(s):  
Business Processes ◽  
Theoretical Perspective ◽  
Digital Transformation ◽  
Global Business ◽  
Cross Sectional ◽  
Content Type ◽  
The Usa ◽  
Internal Embeddedness ◽  
External Embeddedness ◽  
Relationship Of

Purpose While much existing research on multinational corporation (MNC) digital transformation has followed a linear design and implementation logic using cross-sectional data, the multiple and divergent needs of headquarters (HQ) and subsidiaries suggest that MNC digital transformation actually involves a more iterative journey. The purpose of this paper is to apply the theoretical perspective of embeddedness to better define the complexities of MNC digital transformation, and identify how HQ and subsidiaries can navigate the complexities. Design/methodology/approach This paper presents a longitudinal multi-case study of five Forbes Global 2000 firms that are HQ in Europe with large subsidiaries in the USA. The authors conducted in-depth interviews with 26 senior executives at HQ and subsidiaries over a 15-month period. Findings The process of digital transformation is significantly influenced by internal embeddedness (relationship of HQ with subsidiaries and across subsidiaries) and external embeddedness (relationship of subsidiaries with their local markets), and also by strategy, financial and technology considerations. While HQ and subsidiaries have different perspectives, an understanding of these influences can help HQ and subsidiaries navigate digital transformation. Research limitations/implications HQ and subsidiaries can apply insights from this research to navigate the complexities of digital transformation. Originality/value This paper demonstrates that embeddedness is a useful theory to understand the complexities of MNC digital transformation.

scholarly journals Narratives of cooperation, resilience and resistance: workers’ self-recovery in times of crisis

2019 ◽  
Vol 39 (9/10) ◽  
pp. 851-864 ◽  
Author(s):  
Luca Antonazzo
Keyword(s):  
Small Sample ◽  
Workplace Democracy ◽  
Cross Sectional ◽  
International Debate ◽  
Content Type ◽  
The Great Recession ◽  
Different Types ◽  
Multi Level ◽  
Sectional Analysis ◽  
Opening Up

Purpose Worker-recuperated enterprises have appeared in Europe with increasing frequency since 2008, following the Great Recession that hit the western economies. The purpose of this paper is to depict the phenomenon of worker-recuperated enterprises in Italy, focusing on two different types of business recovery, that of workers buyouts and that of recovered social spaces. The paper compares these on the basis of four analytical dimensions: resilience/resistance, relationship with the market, relationship with the territory and workplace democracy. Design/methodology/approach The corpus of the research is based on the cross-sectional analysis of workers’ narratives. These were collected, within a small sample of theoretically relevant cases, in order to retrace and analyse the path from the crisis of the former companies to establishment of the workers’ cooperatives and their social and economic features. Findings The collected narratives allowed for a multi-level comparison between different types of worker-recuperated enterprises, providing some insights on their emergence, their features in terms of resilience and resistance, their relationship with the market economy and their outcomes in terms of workplace democracy and support to employment. Originality/value Worker buyouts are gaining ground in Europe as an effective mechanism to oppose the fall of the employment rate in consequence of economic crises. This research intends to offer some data and arguments to the current international debate on the effectiveness of these mechanisms in coping with economic shocks and opening up to a sustainable and cooperative work-driven economy.

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