Stock Repurchase and the Role of Signaling： A Comparative Analysis between U.S. and China

This paper compares different methods used for stock repurchase and examines the role of signaling in the U.S. and China＇s capital markets. We find that the ways to buyback stocks are very different in the two countries. Most U.S. stocks are repurchased through open market and the signals sent to the market through open market repurchase are getting weaker. Even though stock repurchases are at their early stage in the Chinese stock market and the dominated way to buyback is through a negotiated repurchase agreement for non-floating shares, the power of signaling seems much stronger. Examining stock prices pre- and post-repurchase, we find that stock repurchase records an average abnormal return of 3.42% on the announcement date and 3.24% on the date of actual renurchase.

Examining Mediating Role of Customer Loyalty for Influence of Brand Related Attributes on Customer Repurchase Intention

The objective of current study was to investigate the influence of brand related attributes on customer loyalty and repurchase intention in agricultural product marketing in Pakistan. Results of current study would help the management of branded agricultural products, in Pakistan specifically and in developing countries generally, to formulate the best strategies to enhance customer loyalty in order to induce repurchase intention of them. Future research could be conducted in the same field by adopting larger sample size and this research can be replicated with specific product category.

Do you respond sincerely? How sellers'responses to online reviews affect customer relationship and repurchase intention

For many online businesses,online reviews are crucially important to managing reputation,word-of-mouth sales,and,ultimately,their survival.Hence,more and more on line business owners are posting public responses to both positive and negative reviews.But do these responses change anything?And,if so,which types of responses are the most effective for strengthening customer relationship and increasing the chances of repeat business?With two surveys and a series of partial least squares-structural equation modeling(PLS-SEM)analyses,we tested three releva nt hypotheses to an swer these questions.The results show that when busi ness replies to online reviews with promotional information,consumers perceive the seller to be self-interested,and both relati on ship quality and repurchase intenti on decrease.However,sincere responses that do not contain promotional information,such as gratitude and apology,are highly correlated to positive relationship quality and the likelihood of future repeat business.These findings enrich the academic literature on on line reviews,and the recommendations stemming from our results should be of interest to any business that relies on their online reputation for survival.

Roles of Corporate Reputation and Service Recovery in Food Safety Crises:A Case Study of Food Hygiene Incidents in Hot Pot Restaurants

Food hygiene incidents in hot pot restaurants were studied,and a relationship model between corporate reputation and consumers behavioral intention was established.Hot pot consumers of hot pot restaurants were surveyed through questionnaires.The results show that corporate reputation positively affects service recovery and repurchase intention,and service recovery positively influences repurchase intention,while corporate reputation affects repurchase intention through service recovery.In other words,under the situation of enterprise crises,the service recovery of an enterprise can restore its image and reputation.Therefore,when an enterprise has a crisis,it should positively respond to the crisis incident,and take timely crisis recovery to maintain its positive image.

Chinese Cultural Relics Lost Overseas and Returned Home,over the Years

With the continuous development of China's economy and might, a growing number of cultural relics lost overseas have returned to their motherland via multiple channels, such as legal pursuit, diplomatic negotiation, donation, repurchase and so on.

The Recent US Financial Crisis： Its Impact on Dividend Payout Strategy and a Test of the Silver-Lining Hypothesis

The authors investigate the impact of the recent financial crisis on dividend payout policies in the United States. The results are as follows. The authors find that： （l） Firms must have good financial profiles to support a policy of increasing dividend payouts during a financial crisis; （2） Overall firms increasing dividend payouts are also engaged in stock repurchases; （3） Firms choosing to increase cash dividend payouts seem to have low opportunity costs, that is, they do not have as many exercisable stock options that they may need in the face of possible future redemptions; and （4） During a financial crisis, the aforementioned trade-off between exercisable stock options and increased dividend payouts would peak, as the stock price slides to where it could be expected to V-bound and then became moderate when stock price recovered. The abovementioned findings are consistent with the ＂silver- lining＂ hypothesis which the authors proffer to suggest that the storm of economic bad times often creates circumstances that influence dividend payout strategies for firms traded on exchanges in the United States, and different dividend payout strategies may be strategically elected to reveal to the market participants a silver-lining in the cloud of bad times.

Corporate Financial Policies under Heterogeneous Beliefs

This study investigates a firm's financing,investment,and payout policies through a rational expectation equilibrium based on which managers and outside investors have heterogeneous prior beliefs.The proposed model demonstrates that managers tend to overinvest(underinvest)if the extent of heterogeneousness is above(below)a threshold,which differs under distinct circumstances.Moreover,a price bubble is positively related to overinvestment,and the model shows that a firm's optimal financing choices and payout policies vary with the assumption of heterogeneous beliefs.