| 1. |
- Zineldin, Mosad, et al.
(författare)
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Loyalty, Quality And Satisfaction In FMCG Retail Market : Does Loyalty In Retailing Exist?
- 2014
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Ingår i: Journal of Business & Financial Affairs. - : OMICS Publishing Group. - 2167-0234. ; 3:2
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Tidskriftsartikel (refereegranskat)abstract
- This study aims to identify and analyse how customers are experiencing quality, loyalty and satisfaction in the Fast moving consumer goods (FMCG) retail market. The 5Qs model which includes economical and behavioural attributes is used. A research based on 200 respondents is used to identify differences between various 5Qs attributions. It shows that satisfaction does not automatically lead to loyalty. The price is a ruling attribute that makes the customer chase discounts, no matter who provides it. Results show that both psychological and economical attributions influence customers loyalty. The study reveals that organizations have the fantasy that their customers are totally loyal. This is a dichotomous thought because, the customers did not restrict their loyalty to a few organizations, but they are loyal to those organizations which provide them better offers. Independent variable satisfaction correlates substantially with dependent variable loyalty (.570). Holding a membership card which can indicate a commitment attitude was not significant to the loyalty or satisfaction. Thus, the organizations should understand that disloyalty within varying degrees is a reality and a necessary evil.
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| 2. |
- Brunzell, Tor
(författare)
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What Aspects of a Board’s Work are Really Important?
- 2012
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Ingår i: Journal of Business and Financial Affairs. - : OMICS Publishing Group. - 2167-0234. ; 1:2, s. 1-3
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Tidskriftsartikel (refereegranskat)abstract
- In this editorial article, I will discuss what chairmen and CEOs perceive to be the most and least important aspects of their board’s work for a high-quality outcome. I focus on the chairman and CEO because they are the two most important persons affected by their board’s work, but they have different roles and perspectives. The chairman leads the board, while the CEO leads the company’s daily operations.How should we attempt to answer the following question: which aspects of the board’s work are more important and which are less important? The most direct method is to ask chairmen and CEOs. Therefore, I will base my discussion on data from a questionnaire sent to Nordic listed companies that asked chairmen and CEOs how they perceive different aspects of the work on the board they serve. The respondents responded on a 1-5 Likert-scale. An optimal model is estimated for each working aspect, starting with an overall satisfaction question.
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| 3. |
- Brunzell, Tor
(författare)
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High-frequency Trading–to Regulate or Not to Regulate-That is the Question? : Does Scientific Data Offer an Answer?
- 2013
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Ingår i: Journal of Business and Financial Affairs. - Westlake, CA : OMICS Group. - 2167-0234. ; 2:1, s. 1-4
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Tidskriftsartikel (refereegranskat)abstract
- High-frequency trading (HFT) certainly captures public (and regulatory) attention. On May 6th 2010, the Dow Jones (DJ) experienced its largest intraday point drop in history, shedding $1 trillion of its market value in half an hour. Largely as a consequence of the event– named Flash Crash–regulatory authorities sharpened the regulations concerning HFT: in the U.S., circuit breakers were introduced [1], and the European Union made regulative changes that require equity orders to delay for at least half a second. Also, in the markets, there has been a demand for introducing a financial transactions tax (FTT) in order to discourage high frequency trading.So, what is high-frequency trading? And why should it be regulated? And if it is regulated, how should that regulation be designed? In this editorial article, I will focus on existing scientific evidence on how HFT affects the market, and on the big questions about HFT that remain unanswered.
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| 4. |
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| 5. |
- Brunzell, Tor, et al.
(författare)
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A Model of Optimal Dividend Policy to Maximize Shareholder Wealth : When Taxes are Considered
- 2012
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Ingår i: Open Access Scientific Reports. - : OMICS Publishing Group. - 2332-2675. ; 1:11
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Tidskriftsartikel (refereegranskat)abstract
- The article analyzes theoretically how a firm maximizes the value of shareholder’s wealth with its dividend policy. Corporate dividend policy is one of the major puzzles with modern finance. The overall question is whether company should pay out dividend at all. However, the large majority of listed companies pay dividend and they also carry sophisticated dividend policies. In this paper we outline when it is optimal for a company to pay out dividend and when it should reinvest the profit from operations. The model takes taxes in to consideration estimating the value of a company, i.e., the present value after deduction for taxes, is used as objective function.Four different taxes are considered. The analysis shows the terms on which it is profitable to receive dividend payout or to reinvest at an arbitrary time. Under the assumption of a unique maximum net present value, the terms at the time for the maximum net present value are also presented.
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| 6. |
- von Koch, Christopher, et al.
(författare)
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The Regulatory Effect on the Performance of Financial Analysts : Time Series from Two different Legal Systems
- 2013
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Ingår i: Journal of Business and Financial Affairs. - 2167-0234. ; 2:2
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Tidskriftsartikel (refereegranskat)abstract
- The focus of this paper is the relationship between regulatory settings and financial analysts’ performance, which is examined by studying the level of shareholder protection and the performance of financial analysts in two countries with different legal origins. By using a newly constructed index to measure shareholder protection, we are able to analyze how changes in shareholder protection over time can affect analysts’ performance. By comparing two countries with different legal traditions (the United Kingdom (UK) and Sweden), we are also able to assess whether the underlying legal origin is an influential factor. The results show that increased shareholder protection improves forecast accuracy in both the UK and Sweden, supporting the idea that stronger shareholder protection regulations improve analysts’ performance whether the legal context is rooted in common law or Scandinavian civil law tradition. The findings also indicate that strengthened shareholder protection decreases forecast dispersion in Sweden and forecast bias in the UK, further supporting the idea that stronger shareholder protection improves analysts’ performance even though the results differed across legal contexts. We did, however, find a substitution effect in both countries: Strengthened shareholder protection makes analysts’ services less valuable to investors, thus leading to a reduction in the number of analysts. Our main conclusion is that changes in shareholder protection affect the performance of analysts irrespective of the country’s legal origin, i.e. common law or Scandinavian civil law. However, legal origin seems to have an impact on the magnitude of analysts’ performance based on changes in shareholder protection.
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