A major impact on both financial theory and the practice of financial decision making has been the economic instability, especially in prices, evidenced in the U.S. economy since the mid 1960’s. Inflation in the past few years has not been a major macro economic problem, but its spectere, as demonstrated by the Fed’s recent increases in interest rates, is never for the agendas of financial deci...

We propose a hierarchical Bayesian semiparametric approach to account simultaneously for heterogeneity and functional flexibility in store salesmodels. To estimate ownand cross-price response flexibly, a Bayesian version of P-splines is used. Heterogeneity across stores is accommodated by embedding the semiparametric model into a hierarchical Bayesian framework that yields store-specific ownand...

This paper exploits the homogeneity feature of the Singapore private residential condominium market and constructs matched home purchase price and rental price series using the repeated sales method. These matched series allow us to conduct time series analysis to examine the long-term present value relationship in the housing market. Three key findings are obtained. First, we fail to establish...

In the absence of frictions if a portfolio strategy replicates the payoff of one unit of a claim, an appropriately scaled strategy replicates any amount of the claim. If assets are priced by arbitrage, the value per-unit is invariant to the amount of the asset considered. In particular, in the case of American claims, the optimal exercise time is independent of the amount of the claim that is c...

a r t i c l e i n f o From the perspective of job embeddedness theory, this study explores the influence of sales training and job embeddedness on the sales performance and turnover behavior of newcomer employees. To acquire performance and turnover data, this study surveys 327 new financial salespersons after they have spent some time at a large life insurance company. With this data, the stud...

Organizational mechanisms, and their contexts, leading to gender inequality among stockbrokers in two large brokerages are analyzed. Inequality is the result of gender differences in sales, as both firms use performancebased pay, paying entirely by commissions. This paper develops and tests whether performance-support bias, whereby women receive inferior sales support and sales assignments, cau...

User perceptions of new technologies may ultimately affect their acceptance of that technology. Recent research has identified a clear connection between user perceptions of Sales Force Automation and their acceptance of Sales Force Automation technologies. Anecdotal evidence suggests that relative to less experienced salespeople, more experienced salespeople tend to have more negative percepti...

This paper addresses the two opposing extremes of standardisation in franchising and the dynamics of sales in search of a juncture point in order to reduce franchisees’ uncertainties in sales and improve sales performance. A conceptual framework is developed based on both theory and practice in order to investigate the sales process of a specific franchise network. The research is conducted ove...

Inventory models in which the demand rate depends on the inventory level are based on the common real-life observation that greater product availability tends to stimulate more sales. Previous models incorporating inventory-level dependent demand rate assume that the holding cost is constant for the entire inventory cycle. This paper considers the inventory policy for an item with a stock-level...