Defining and measuring market sentiments: a review of the literature

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Divya Aggarwal
Keyword(s):  
Investor Sentiment ◽  
Empirical Literature ◽  
Future Research ◽  
Review Of The Literature ◽  
Content Type ◽  
Psychology Literature ◽  
Investment Styles ◽  
Practical Implications

Purpose The purpose of this paper is to review and discuss the literature focusing on defining and measuring sentiments so as to understand their role in stock market behavior. Design/methodology/approach Critical review of the literature by analyzing myriad scholarly articles. The study is based on an analysis of 81 scholarly articles to critically analyze the approach toward defining and measuring market sentiments. The articles have been examined to identify and critique different classification of sentiment measures. A discussion is built to scrutinize the sentiment measures under the purview of theoretical underpinnings of the investor sentiment theory as well. Findings With more than five decades of research, the sentiment construct in finance literature is still ill-defined. Myriad empirical proxies of sentiment measures have led to conflicting results. The sentiment construct defined in financial theories needs to be revisited from the lens of sentiments defined in psychology. Research limitations/implications The study is limited to analyzing the role of individual and institutional sentiments in equity markets. There is a need to explore sentiments with respect to different investment styles and strategies along with the type of investors. Practical implications Developing a suitable sentiment proxy can result in devising profitable trading strategies for investors. Understanding factors driving investor sentiments will help regulators to become more proactive and frame better policies. Originality/value This paper has leveraged psychology literature to highlight the limitations in development of sentiment construct in finance literature. By identifying stylized facts from reviewing the empirical literature, it highlights areas for future research.

scholarly journals A framework for Collaborative Planning, Forecasting and Replenishment (CPFR)

2015 ◽  
Vol 28 (6) ◽  
pp. 838-871 ◽  
Author(s):  
Farhad Panahifar ◽  
Cathal Heavey ◽  
PJ Byrne ◽  
Hamed Fazlollahtabar
Keyword(s):  
Supply Chain ◽  
Design Methodology ◽  
Review Process ◽  
Collaborative Planning ◽  
Future Research ◽  
Successful Implementation ◽  
Content Type ◽  
Practical Implications

Purpose – Although many papers purport the significant value attributable to supply chain performance from the use of Collaborative Planning, Forecasting and Replenishment (CPFR), the question of “what are the main constructs and efficient framework for successful implementation of CPFR?” remains largely unanswered. This question will be addressed by identifying and analysing the main constructs for successful implementation of CPFR. The purpose of this paper is to attempt first to seek answers to this question. Second, to review the scope and value of CPFR using a devised state-of-the-art taxonomy for the classification of selected bibliographical references and third, to develop a conceptual framework by identifying areas which need more research. Design/methodology/approach – The method underlying this paper followed the steps of a systematic literature review process outlined by Soni and Kodali (2011). The review is based on a total of 93 papers published from 1998 to 2013 on CPFR. Findings – Four main constructs for successful implementation of CPFR have been identified: CPFR enablers, CPFR barriers, trading partner selection and IA. The findings indicate that there is a need for better understanding of the amount and level of information sharing as an important function of CPFR implementation. The paper also illustrates a number of shortcomings in the current literature and provides suggestions to guide future research on implementing CPFR in different industries. Practical implications – This paper is of interest to both academicians and practitioners as it helps to better understand the concept and role of CPFR in supply chain integration and its implementation results, enablers and inhibitors. The proposed framework in this paper can be used to give insight for future research and practice. Originality/value – The paper offers a framework for the review of previous research on CPFR and identifies the most important shortcomings that need to be addressed in future research. In addition, this review is both greater in scope than previous reviews and is broader in its subject focus.

Drivers, types and value outcomes of customer-to-customer interaction

2018 ◽  
Vol 28 (6) ◽  
pp. 710-732 ◽  
Author(s):  
Kristina Heinonen ◽  
Elina Jaakkola ◽  
Irina Neganova
Keyword(s):  
Customer Value ◽  
Empirical Studies ◽  
Service Research ◽  
Future Research ◽  
Content Type ◽  
Integrative Framework ◽  
Customer Interaction ◽  
Interaction Research ◽  
Practical Implications

PurposeCustomer-to-customer (C2C) interaction plays a significant role in service. The purpose of this paper is to identify the drivers that motivate customers to interact with other customers, the interactions through which customers affect other customers and the value outcomes of C2C interactions for the participants.Design/methodology/approachThe paper is based on a systematic literature review of C2C interactions. The authors analyzed 142 peer-reviewed articles to synthesize existing knowledge about C2C interactions. A generic value framework is used to categorize earlier research and reveal areas for further research.FindingsThe main outcome of this study is an integrative framework of C2C interaction that bridges C2C interactions and customer value. The findings indicate customer-, firm- and situation-induced drivers of C2C interactions. Outcome- and process-focused C2C interactions are identified to result in functional, emotional and social value outcomes. Avenues for additional research to explore issues related to current technology-saturated service settings are proposed.Research limitations/implicationsThe paper proposes an agenda for future research to extend the C2C interaction research domain and explore how such interactions create value for the customer. The role of the service provider is not explicitly addressed but is an important area for further research.Practical implicationsCompanies can use the framework to understand how they can become involved in and support beneficial C2C interaction.Originality/valueThis paper reviews empirical studies on C2C interaction, offering a systematic review of C2C interaction and producing an integrative framework of C2C interaction. It identifies a research agenda based on the framework and on topical issues within service research and practice.

scholarly journals Environmental determinants of destination competitiveness and its Tourism Attractions-Basics-Context, A-B-C, indicators

2020 ◽  
Vol 25 (50) ◽  
pp. 425-449 ◽  
Author(s):  
Lalita A. Manrai ◽  
Ajay K. Manrai ◽  
Stefanie Friedeborn
Keyword(s):  
Environmental Factors ◽  
Design Methodology ◽  
Future Research ◽  
Review Of The Literature ◽  
Environmental Determinants ◽  
Content Type ◽  
Destination Competitiveness ◽  
Managerial Implications ◽  
Tourism Attractions ◽  
Practical Implications

Purpose The purpose of this paper is to provide a comprehensive review of the literature and develop a model of the determinants, indicators and effects of destination competitiveness (DC), as well as several propositions. Design/methodology/approach This study thoroughly reviewed extant literature to develop a conceptual model and propositions. Findings Two key findings are listed below. First, 12 different environmental factors are identified and 12 propositions are developed linking these environmental factors to DC. Second, a new indicator of DC is developed, namely, Tourism Attractions-Basics-Context (TABC) model. The TABC model is simple and directly taps into the benefits tourists seek in a destination. Research limitations/implications Directions for future research are discussed in detail in the paper. Practical implications Managerial implications are discussed in detail in the paper. Originality/value The extant research on the topic of DC has been rather fragmented and incomplete in scope. The research presented in this paper addresses these limitations.

Supply chain resilience: a systematic literature review and typological framework

2018 ◽  
Vol 48 (8) ◽  
pp. 842-865 ◽  
Author(s):  
Cigdem Gonul Kochan ◽  
David R. Nowicki
Keyword(s):  
Supply Chain ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Future Research ◽  
Exploratory Research ◽  
Content Type ◽  
Supply Chain Resilience ◽  
Assessment Techniques ◽  
Practical Implications

PurposeThe study of supply chain resilience (SCRES) continues to gain interest in the academic and practitioner communities. The purpose of this paper is to present a focused review of the SCRES literature by investigating supply chain (SC) capabilities, their relationship to SCRES outcomes and the underpinning theoretical mechanisms of this relationship.Design/methodology/approachThe paper uses the systematic literature review approach to examine 383 articles published between 2000 and 2017, ultimately down selecting to the most relevant 228 peer-reviewed studies. Context-interventions-mechanisms-outcomes (CIMO) logic is applied to organize and synthesize these peer-reviewed studies. A typological framework is developed from the CIMO-based classification of the SCRES literature.FindingsThe findings of this study outline the gaps in the SCRES literature and present an agenda for future research.Research limitations/implicationsThis paper presents an exploratory research; therefore, the typological model presented is just one of the possible perspectives.Practical implicationsThe typology of SCRES literature can help practitioners to understand SCRES and to measure and assess the resilience of SCs.Originality/valueThe paper provides clear definitions of SCRES constructs, develops a typological framework to further understand SCRES and identifies SCRES measures and assessment techniques.

A taxonomy of value co-creation on Weibo – a communication perspective

2018 ◽  
Vol 30 (4) ◽  
pp. 2075-2092 ◽  
Author(s):  
Jing Ge ◽  
Ulrike Gretzel
Keyword(s):  
Social Media ◽  
Future Research ◽  
Marketing Organization ◽  
Content Type ◽  
Social Media Platform ◽  
Social Media Platforms ◽  
Media Platform ◽  
Comprehensive Classification ◽  
Practical Implications

Purpose This paper aims to develop a taxonomy of value co-creation types occurring in firm-customer interactions on social media. Design/methodology/approach In total, 570 destination marketing organization (DMO)-initiated posts on Weibo and 3,137 responses were collected to develop a taxonomy by conducting qualitative empirical-to-conceptual analysis. To apply the taxonomy through conceptual-to-empirical analysis, 100 DMO-initiated posts and 823 responses were collected. Findings The communication-focused value co-creation taxonomy shows a variety of co-creators, verbal and non-verbal communicative co-creation actions facilitated by social media, and different co-created value types. Research limitations/implications This study used a single social media platform and selected three DMOs’ Weibo accounts. Future research should focus on other types of firms and different social media platforms. Practical implications This study used a single social media platform and selected three DMOs’ Weibo accounts. Future research should focus on other types of firms and different social media platforms. Originality/value This study enriches the tourism literature and the general marketing literature by examining value co-creation from a communication perspective and provides a comprehensive classification of value co-creation opportunities on social media.

Beyond feedback: understanding how feedforward can support employee development

2019 ◽  
Vol 38 (1) ◽  
pp. 46-57 ◽  
Author(s):  
Marie-Hélène Budworth ◽  
Jennifer A. Harrison ◽  
Sheryl Chummar
Keyword(s):  
Positive Psychology ◽  
Future Research ◽  
Review Of The Literature ◽  
Content Type ◽  
Future Research Directions ◽  
Relational Resources ◽  
Psychology Literature ◽  
Environmental Limits ◽  
Direct Guidance ◽  
Effective Use

Purpose Recent research has found that a technique called feedforward interviewing (FFI) can be used to develop employees on the job. Currently the mechanisms and boundary conditions of the FFI-performance relationship are unexplored. Using a positive psychology framework, the purpose of this paper is to discuss how FFI supports the creation of personal and relational resources, and explores the contextual and environmental limits to the effectiveness of the technique. Design/methodology/approach Through a review of the literature as well as examination through appropriate theoretical lenses, moderators of FFI are proposed and the implications for the effectiveness of the technique are examined. Findings The FFI model explored in this paper is rooted in broaden and build theory as well as other theories from the positive psychology literature. Design recommendations and future research directions are discussed. Originality/value Through a scholarly review of the literature, the potential for the effective use of a new developmental technique is explored. Direct guidance on how to apply FFI in organizations is given.

A new conceptual framework for identifying the factors influencing the effectiveness of competitive intelligence

2020 ◽  
Vol 30 (5) ◽  
pp. 555-576
Author(s):  
Somayeh Asghari ◽  
Sahar Targholi ◽  
Ali Kazemi ◽  
Saeed Shahriyari ◽  
Lila Rajabion
Keyword(s):  
Organizational Culture ◽  
Knowledge Management ◽  
Statistical Analysis ◽  
Conceptual Framework ◽  
Knowledge Sharing ◽  
Competitive Intelligence ◽  
Future Research ◽  
Content Type ◽  
Practical Implications

Purpose Competitive intelligence (CI) collects data through the distribution of knowledge to make decisions in a competitive environment. To better comprehend the concept of CI, the purpose of this paper is to determine the role of effective factors (knowledge sharing, competitor information, information technology (IT) and organizational culture) and their impact on CI. In addition, the paper provides a conceptual framework for determining the practical factors on CI. Design/methodology/approach For evaluating the elements of the model, a questionnaire is considered. Questionnaires were reread by specialists with significant experiences in the CI field. For statistical analysis, the SPSS 22 and SmartPLS 3.2 software package is also used. Findings Findings from the study showed the validity of the model for a CI assessment. Furthermore, the results confirmed that the competitor information significantly influenced CI. In addition, the obtained results implied that IT has a significant and positive influence on CI. The effect of organizational culture on CI also proved to be positive and significant. Research limitations/implications This paper makes significant contributions for both researchers and practitioners; however, the authors determine some limitations, which are as follows: First, the authors showed the result in a single region. It cannot be assured that the results are generalizable to other areas. Second, because of time and financial constraints, the authors gathered the data using a sample from a single location. Third, the use of variables to depict CI may be not exhaustive. The authors, therefore, encourage future research to study these CI dimensions. Practical implications This study meaningfully contributes to the knowledge and literature by focusing more on CI, examining other significant aspects and applying advanced statistical analysis method. Also, current research results suggest practical implications for marketing practitioners and managers who implemented tools and made strategic plans to enhance the organization’s performance. From a practical perspective, the statistical results support the crucial role of the following factors: IT, competitor information, organizational culture and knowledge sharing on CI. Originality/value Experts in the area of knowledge management, CI and strategic management can use this study to gain a competitive advantage based on knowledge and information resources. Organizations must have knowledge management function and CI to support the strategy formulation, implementation and evaluation.

scholarly journals Value (co-)creation in B2B sales ecosystems

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sami Rusthollkarhu ◽  
Pia Hautamaki ◽  
Leena Aarikka-Stenroos
Keyword(s):  
Value Creation ◽  
Business Environment ◽  
Future Research ◽  
Value Proposition ◽  
Content Type ◽  
Theoretical Concepts ◽  
Business Environments ◽  
Novel Concept ◽  
Practical Implications

Purpose Digital ecosystemic business environments challenge dyadic approaches to value creation and particularly to business-to-business (B2B) sales. This paper aims to offer a novel conceptualization of the connection between value creation and B2B sales, which indicates practical implications and builds an agenda for future research. Design/methodology/approach This conceptual paper integrates theoretical insights on service-dominant logic, service ecosystems, interactional value co-creation and B2B sales. This paper uses anecdotal evidence from the field of B2B sales to illustrate theoretical concepts developed in the paper. Findings The paper develops the concept of value idea emergence (VIE), the process through which B2B entities become aware of a pursuable benefit. The paper further proposes that value (co-)creation in ecosystems happens through VIE’s intertwinement with the process of value proposition creation, a process, which includes all activities needed to bring a value proposition to a customer. The paper then discusses the role of B2B in these processes and proposes an agenda for future research. Practical implications The novel conceptualizations of value (co-)creation can help B2B sales managers to understand the ecosystemic nature of the interactions that affect sales and value creation in the current business environment. Originality/value The paper contributes to the literature on B2B sales and value creation by proposing a novel concept of VIE, introducing a conceptual model of interactive value (co-)creation in ecosystems and reformulating the role of B2B sales in value creation. These theory-developing insights can be used to guide both academic and managerial attention to interactions happening in the ecosystem outside of the buyer-seller dyad.

Customer dominant value formation in service

2013 ◽  
Vol 25 (2) ◽  
pp. 104-123 ◽  
Author(s):  
Kristina Heinonen ◽  
Tore Strandvik ◽  
Päivi Voima
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Design Methodology ◽  
Conceptual Analysis ◽  
Future Research ◽  
Service Strategy ◽  
Content Type ◽  
Practical Implications ◽  
Contextual Reality

PurposeThe purpose of this paper is to extend current discussions of value creation and propose a customer dominant value perspective. The point of origin in a customer‐dominant marketing logic (C‐D logic) is the customer, rather than the service provider, interaction or the system. The focus is shifted from the company's service processes involving the customer, to the customer's multi‐contextual value formation, involving the company.Design/methodology/approachValue formation is contrasted to earlier views on the company's role in value creation in a conceptual analysis focusing on five central aspects. Implications of the proposed characteristics of value formation compared to earlier approaches are put forward.FindingsThe paper highlights earlier hidden aspects on the role of a service for the customer. It is proposed that value is not always an active process of creation; instead, value is embedded and formed in the highly dynamic and multi‐contextual reality and life of the customer. This leads to a need to look beyond the line of visibility focused on visible customer‐company interactions, to the invisible and mental life of the customer. From this follows a need to extend the temporal scope, from exchange and use even further to accumulated experiences in the customer's life and ecosystem.Research limitations/implicationsThis paper is conceptual. It discusses and presents a customer‐dominant value perspective and suggests implications for empirical research and practice.Practical implicationsAwareness of the mechanism of the customer value formation process provides companies with new insight on the service strategy, service design and new service innovations.Originality/valueThe paper contributes by extending the value construct through a new customer dominant value perspective, recognizing value as multi‐contextual and dynamic based on customers' life and ecosystem. The findings mark out new avenues for future research.

Contrarian and momentum trading: a review of the literature

2014 ◽  
Vol 6 (1) ◽  
pp. 63-82 ◽  
Author(s):  
Emilios C. Galariotis
Keyword(s):  
Asset Pricing ◽  
Critical Review ◽  
Driving Forces ◽  
Future Research ◽  
Review Of The Literature ◽  
Investment Performance ◽  
Content Type ◽  
Open Questions ◽  
Momentum Trading ◽  
Practical Implications

Purpose – The purpose of this paper is to critically review the literature on contrarian and momentum trading strategies and identify areas for future research. Design/methodology/approach – Critical review and discussion of the literature. Findings – The extant literature is dynamic and is typified by a number of open questions. Research limitations/implications – The open questions in the literature relate mainly to the driving forces of investment performance, and the role of risk and asset pricing as well as behavioral human traits. The literature is vast and therefore difficult to classify, cover and discuss. Practical implications – The paper indicates the possible need for: the development of different asset pricing models and propositions that can have practical implications at a more international context. Originality/value – The paper provides a critical review of the literature and identifies open issues for future research.

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