Pure higher-order effects in the portfolio choice model

This paper examines the effects of higher-order risk attitudes and statistical moments on the optimal allocation of risky assets within the standard portfolio choice model. We derive the expressions for the optimal proportion of wealth invested in the risky asset to show they are functions of portfolio returns third- and fourth-order moments as well as on the investor’s risk preferences of prudence and temperance. We illustrate the relative importance that the introduction of those higher-order effects have in the decision of expected utility maximizers using data for the US.

Reputation performance: a portfolio selection approach

This paper introduces a normative view on corporate reputation strategic management. Reputation performance is conceptualised as the outcome of complex processes and social interactions and the lack of a holistic reputation performance management framework is identified. In an attempt to fill this gap, a portfolio-based approach is put forward. Drawing on the foundations of modern portfolio theory we create a portfolio-based reputation management algorithmic model where reputation components and priorities are weighted by decision makers and shape organisational change in an attempt to formulate a corporate reputation strategy. The rationale of this paper is based on the foundational consideration of organisations as choosing he optimal strategy by seeking to maximise their reputation performance while maintaining organisational stability and minimising organisational risk.

Reputation Performance: a portfolio selection approach

This paper introduces a normative view on corporate reputation management; an algorithmic model for reputation-driven strategic decision making is proposed and corporate reputation is conceptualized as influenced by a selection among organizational priorities. A portfolio-based approach is put forward; we draw on the foundations of portfolio theory and we create a portfolio-based reputation management model where reputation components and priorities are weighted by decision makers and shape organizational change in an attempt to formulate a corporate reputation strategy. The rationale of this paper is based on the foundational consideration of organizations as choosing the optimal strategy by seeking to maximize performance on corporate reputation capital while maintaining organizational stability and minimizing organizational risk.

Media amplification of brand crisis and its affect on brand trust

This paper explores the ways in which consumers’ brand trust during a brand crisis is affected through direct experience versus when it is amplified through mass media. By using case-study methodology, our findings reveal that generalised public images of a product crisis initiate a public perception of risk, which provides more negative effects on brand trust than the actual consumers’ experience does. We introduce the media as a third partner influencing the trust relationship between consumers and brands, and offer suggestions for restoring and preserving customers’ brand trust.

La carpeta de aprendizaje y la evaluación entre iguales de los estudiantes. Resultados de una innovación docente en los estudios universitarios de las artes

Students reflect more on their learning in course subjects when they participate in managing their teaching–learning environment. As a form of guided participation, peer assessment serves the following purposes: (a) it improves the student’s understanding of previously established learning objectives; (b) it is a powerful metacognitive tool; (c) it transfers to the student part of the responsibility for assessing learning, which means deciding which learning activities are important and choosing the degree of effort a course subject will require; (d) it emphasizes the collective aspect of the nature of knowledge; and (e) the educational benefits derived from peer assessment clearly justify the efforts required to implement activities. This paper reports on the relative merits of a learning portfolio compiled during fine arts-related studies in which peer assessment played an important role. The researchers analyzed the student work load and the final marks students received for compulsory art subjects. They conclude that the use of a closed learning portfolio with a well-structured, sequential and analytical design can have a positive effect on student learning and that, although implementing peer assessment may be complex and students need to become familiar with it, its use is not only feasible but recommendable.

A Comparison of the Performance of Brand-Affiliated and Unaffiliated Hotel Properties

Research has shown that performance differences exist between brand-affiliated hotels and unaffiliated properties. However, the extant empirical results are mixed. Some research has shown that brands outperform unaffiliated hotels on various metrics, whereas other research has shown the opposite. This article analyzes this issue using a matched-pair approach where we compare the performance differences of brand-affiliated and unaffiliated properties between 1998 and 2010. The matched-pair approach ensures that local competitive conditions as well as hotel characteristics are the same across the comparison pair. In addition, all potential omitted-variable bias and model misspecifications are avoided. Thus, to address our research question, we compare branded hotels with unaffiliated properties that are identical in age, market segment, location, and duration of operation, as well as having a similar number of rooms. Our analysis shows that performance differentials are present, albeit not systematic. We found no consistent advantages in all segments for either the affiliated hotels or the comparable unaffiliated properties, taking into account our comparison factors. That said, the methodology of our approach yields results that are more informative to the affiliation choice of owners and to the growth strategies of hotel brand–owner companies than those of previous empirical studies.

La marca come strategia: un'analisi dei tassi di royalty nel brand licensing

La tesi si sviluppa attraverso 5 capitoli volti a mostrare l'importanza della valutazione economica del marchio. Si andrà a definire il concetto di marchio e di brand licensing per passare così a descrivere uno dei principali metodi di valutazione: il Relief from Royalty, che pone come input chiave di tale valutazione il tasso di royalty. Si è inoltre svolta un'analisi di tale tasso, in 2 settori merceologici diversi ma collegati, per poter evidenziare i termini che incidono maggiormente sul suo valore e quindi sul valore del marchio.

Lexical Interference in Semantic Processing of Simple Words: Implications for Brand Names

This study provides evidence for a Stroop-like interference effect in word recognition. Based on phonologic and semantic properties of simple words, participants who performed a same/different word-recognition task exhibited a significant response latency increase when word pairs (e.g., POLL, ROD) featured a comparison word (POLL) that was a homonym of a synonym (pole) of the target word (ROD). These results support a parallel-processing framework of lexical decision making, in which activation of the pathways to word recognition may occur at different levels automatically and in parallel. A subset of simple words that are also brand names was examined and exhibited this same interference. Implications for word recognition theory and practical implications for strategic marketing are discussed.

La equidad de marca "Brand Equity" una estrategia para crear y agregar valor

La marca puede y debe ser el factor determinante, diferencial e inimitable para crear y agregar valor a productos, servicios y empresas con y sin ánimo de lucro. La acertada gestión de las marcas se fundamenta y logra su función/misión en las dimensiones que conforman la equidad de marca, las cuales son a la vez variables accionables y mensurables. El concepto equidad de marca se origina en el derecho canónico, cuandola Iglesia Católica administraba la Corte de Equidad, que se ocupaba de los asuntos de justicia e igualdad porque se consideraban pecaminosas las acciones que se desviaban de la equidad. Lesionar o usurpar la reputación, "el buen nombre", se consideraba pecaminoso y por lo tanto debía ser juzgado por la Corte de Equidad.

Le portfolio d'apprentissage numérique : un outil intégrateur au service du développement de compétences dans le programme Techniques juridiques.

L'objectif principal de cette recherche est de déterminer si le transfert des apprentissages est facilité par l'utilisation d'un tel portfolio, à titre de mesure de soutien à l'apprentissage, puisqu'une problématique a été identifiée chez la population étudiante en Techniques juridiques au Collège Ahuntsic, en ce que la désorganisation des apprentissages et la difficulté à faire des liens entre les cours sont observables. Nous avons donc imaginé une solution possible à cet écueil (développement et utilisation d’un portfolio d’apprentissage numérique) afin d’en déterminer le potentiel comme outil intégrateur pouvant faciliter le développement de compétences, par le support qu’il offre pour réactiver les connaissances antérieures, mobiliser et combiner les ressources, actions qui permettent le transfert des apprentissages.

Construction d'outils d'évaluation d'une formation au portfolio de compétences : cas d'une formation de formateurs en France

L'objectif poursuivit rejoint davantage une démarche de reconnaissance personnelle, de bilan personnel et professionnel. L'expérimentation de cette démarche m'a conduite au-delà des frontières du Québec. Depuis 1989, j'interviens maintenant en France auprès de formateurs et d'intervenants qui oeuvrent auprès de clientèles jeunes tout autant qu'adultes. Nous continuons ensemble d'expérimenter la démarche et de l'adapter, toujours dans une optique d'autoformation, d'auto-évaluation et d'auto-orientation . Mon rôle d'accompagnatrice et de formatrice dans cette démarche est maintenant chose acquise. Il me manque des outils d'évaluation formels et crédibles pour que cette démarche formative ne soit pas déformée par tous les courants et pratiques en cours. Comme il s'agit d'améliorer des outils d'évaluation pour une formation déjà existante, le cadre conceptuel de la formation en tant que telle n'a pas fait l'objet d'une longue élaboration , celui-ci ayant fait l'objet de travaux antérieurs (Robin 1992 et 1993). L'objectif a été plutôt concentré sur l'évaluation et l'autoévaluation d'apprentissage. Après avoir campé la problématique et le sujet de recherche, la méthodologie utilisée pour l'élaboration d'un portfolio de compétences sera présentée. Le cadre théorique suivra alors avec les notions d'autoformation d'apprentissage et d'évaluation. Une description de la formation de formateurs menée à Montpellier - France - concrétisera le contexte d'application des outils d'évaluation qui devront être améliorés. Une analyse critique de ces outils sera apportée afin de les améliorer ou de les modifier au besoin. Un apport théorique sur la construction d'outils formels conduira à la création de nouveaux outils respectant les normes de validité. En annexe 1, se trouvent tous les documents relatifs à la formation menée à Montpellier ainsi que ceux accompagnant l'évaluation de cette formation à l'élaboration d'un portfolio de compétences. Une présentation des nouveaux outils d'évaluation à l'usage de l’évaluateur et des formateurs stagiaires fait l'objet de deux documents annexés à cet essai.

Narrative transportation in global brand content

People understand life and events around them through narratives. Narratives are a new way for marketers to convey messages to consumers about their brands and products. Brand narratives are an effective way to reach out to people due to their influential nature. Narratives have a power to change beliefs and attitudes, making them relevant and interesting for any marketer. The power of narratives has to do with narrative transportation, which narratives can trigger in people. A transported person is more likely to perceive brand or product in a more positive light. The creators of the narrative are able to influence the content of the narrative through message factors that work as antecedents for narrative transportation. This study explored narrative transportation qualities of well established advertisements. The study uses qualitative content analysis to analyze and identify narrative transportation antecedents among Cannes Lion grand prix winners in the film category between years 2005 to 2015 (15 in total). The narrative transportation antecedents are identifiable characters, imaginable plot and verisimilitude, which were used in the analysis of the data. The study analyzes the winners to make judgment on whether they can trigger narrative transportation or not. It was found that the Cannes Lion grand prix winner advertisement mostly had identifiable narratives in them. In most of the advertisement (ten out of fifteen) at least two out of three antecedents were found, thus most of them are able to trigger narrative transportation. The study also found that most narratives in the advertisement were able to be linked to the main brand narrative of the advertiser. In four of the advertisements the link to the brand narrative was not able to be established. The study concludes by discussing certain factors and aspects of the advertisements that were identified to further enhance the narrative transportation qualities of the advertisement.