B loyalty and the more modern topics of computing customer lifetime value and structuring loyalty programs remain the focal point for a remarkable number of research articles. At first, this research appears consistent with firm practices. However, close scrutiny reveals disaffirming evidence. Many current so-called loyalty programs appear unrelated to the cultivation of customer brand loyalty ...

2 Pension assets exist to defease the benefit promises made by plan sponsors to participants and beneficiaries—in other words, the pension liability. It follows that pension investment policies should be set in a way that explicitly integrates the exposures of the pension liability. The traditional approach to pension investing has excluded the risks of the liability, which has resulted in port...

Transferring the traditional business model for selling digital goods linked to physical media to the online world leads to the need for a system to protect digital intellectual property. Digital Rights Management(DRM) is a system to protect high-value digital assets and control the distribution and usage of those digital assets. This paper presents a review of the current state of DRM, focusin...

This paper draws on and extends the emerging literature on dynamic capabilities to understand and explain the role ofinformation systems (IS) assets in creating business value. Our analysis identifies the critical roles of managerial actions andthe organizational context in identifying, resourcing and implementing IS-enabled competitive actions in delivering businessvalue. This paper extends ea...

Results from two-stage asset pricing tests vary with first-stage design choices and test assets. First, I argue that time-varying betas have higher construct validity than constant loadings as they are not conditional on future (returns) information and more accurately capture time-varying expected returns. Second, randomly generated portfolios as test assets yield, in contrast to the systemati...

We examine the optimal consumption and portfolio choice of an investor having an initial wealth endowment and an uncertain stream of income from non-traded assets. The income stream is not spanned by traded assets, and the investor is not allowed to borrow against future income, so the nancial market is incomplete. We solve the corresponding stochastic control problem numerically with the Marko...

The Test and Training Enabling Architecture enables interoperability among ranges, facilities, and simulations in a timely and cost-efficient manner and fosters reuse of range assets and future software systems. TENA is a common architecture, providing for real-time software system interoperability using the TENA Middleware, as well as interfacing to existing range assets, C4ISR systems, and si...

Pressured Return on Assets: For most U.S. providers, the need for enhanced Return on Assets (ROA) is significant and will only increase as operating cost growth continues in the face of constrained reimbursement, resulting in decreasing ROA, net income and a higher future cost of capital. Those providers considering constructing new beds face even greater ROA hurdles because construction costs ...

One important activity in product line engineering is product line production planning, during which stakeholders of a product line determine what and how product line assets are developed and used for product development. Moreover, decisions on which assets should be developed as in-house assets, purchased as COTS, or adapted from open source software (OSS) are made. In [1], we proposed a feat...

The main objective of this article is to present a comparative study of capital assets pricing models (CAPM) with extrapolating capital assets pricing models (X-CAPM) of companies admitted in Tehran Exchange Market which is accomplished for the first time by investigators of this research in Iran. Accordingly, the statistical population under study of this research includes all companies admitt...