品牌资产及其测量中的概念解析

品牌资产(品牌权益)是近年来营销领域中研究的热点问题,然而对于其基本概念的曲解却阻碍了对这个重要问题的进一步研究。本文针对品牌资产涉及的几个概念(品牌资产、品牌权益、品牌价值)及其相互关系加以解释,并将主要的品牌资产的测量方法进行分类,目的是澄清人们对于品牌资产基本概念的模糊认识,为进一步深入研究指明方向。     

品牌延伸:资产价值转移与理论模型创建

本文通过对品牌延伸(Brand Extension)的研究综述和实证研究,提出决定品牌延伸的三大因子,并在此基础上构成品牌资产价值(Brand Asset Value),进而研究其在品牌延伸过程中的价值转移,从而构成了评估品牌延伸成败的标准,最终将各种因子和评估标准进行整合,提出了品牌延伸的理论模型。     

Do shocks affect men's and women's assets differently? Evidence from Bangladesh and Uganda

Using panel data, this article tests whether shocks affect men's and women's assets differently in Bangladesh and Uganda. Across countries, covariate and idiosyncratic shocks have different effects on men's, women's and jointly owned assets. Jointly held land and assets were better insured against food price increases in Bangladesh, unlike jointly held assets and wives’ assets in Uganda. Weather shocks affect husbands’ and wives’ assets differently in both countries. Reflecting contextual differences, illness shocks negatively affected wives’ land in Bangladesh, while death reduced husbands’ non‐land assets. In Uganda, fuel price increases eroded husbands’ landholdings, while drought shocks reduced wives’ assets. Ugandan husbands’ assets were better protected against covariate shocks than wives’ assets.     

Power and dependence perspectives on outsourcing decisions

Since the 1980s outsourcing has been a major topic in both economic and management literature. Economic literature tends to focus on the transaction cost perspective. In management literature the core competence approach prevails. An emerging alternative view on outsourcing is the power and dependence perspective. Aspects of power and dependence become visible in four case studies involving the maintenance of capital assets. In each instance both the buyer and supplier sides of the dyad are examined. The paper concludes with managerial implications and research opportunities.     

No‐Bubble Condition: Model‐Free Tests in Housing Markets

We test for the existence of housing bubbles associated with a failure of the transversality condition that requires the present value of payments occurring infinitely far in the future to be zero. The most prominent such bubble is the classic rational bubble. We study housing markets in the United Kingdom and Singapore, where residential property ownership takes the form of either leaseholds or freeholds. Leaseholds are finite‐maturity, pre‐paid, and tradeable ownership contracts with maturities often exceeding 700 years. Freeholds are infinite‐maturity ownership contracts. The price difference between leaseholds with extremely‐long maturities and freeholds reflects the present value of a claim to the freehold after leasehold expiry, and is thus a direct empirical measure of the transversality condition. We estimate this price difference, and find no evidence of failures of the transversality condition in housing markets in the U.K. and Singapore, even during periods when a sizable bubble was regularly thought to be present.     

Development of an Asset Value Map for Disaster Risk Assessment in China by Spatial Disaggregation Using Ancillary Remote Sensing Data

The extent of economic losses due to a natural hazard and disaster depends largely on the spatial distribution of asset values in relation to the hazard intensity distribution within the affected area. Given that statistical data on asset value are collected by administrative units in China, generating spatially explicit asset exposure maps remains a key challenge for rapid postdisaster economic loss assessment. The goal of this study is to introduce a top‐down (or downscaling) approach to disaggregate administrative‐unit level asset value to grid‐cell level. To do so, finding the highly correlated “surrogate” indicators is the key. A combination of three data sets—nighttime light grid, LandScan population grid, and road density grid, is used as ancillary asset density distribution information for spatializing the asset value. As a result, a high spatial resolution asset value map of China for 2015 is generated. The spatial data set contains aggregated economic value at risk at 30 arc‐second spatial resolution. Accuracy of the spatial disaggregation reflects redistribution errors introduced by the disaggregation process as well as errors from the original ancillary data sets. The overall accuracy of the results proves to be promising. The example of using the developed disaggregated asset value map in exposure assessment of watersheds demonstrates that the data set offers immense analytical flexibility for overlay analysis according to the hazard extent. This product will help current efforts to analyze spatial characteristics of exposure and to uncover the contributions of both physical and social drivers of natural hazard and disaster across space and time.     

中国资产证券化信用增级的法律环境问题

资产证券化作为一种新的融资方式,在处置不良资产方面具有明显的作用。信用增级是资产证券化的两大核心技术之一,在当前中国信用体系尚不完善的情况下,信用增级显得尤为重要。信用增级包括内部信用增级和外部信用增级,有效实施这两种信用增级方式在现阶段均存在一定的法律障碍。尽快制定专门的资产证券化法,努力完善信用法律环境,才能保证中国资产证券化的顺利实施。     

金融资产管理公司在国企改革中的角色与法律问题

本文通过简要介绍金融资产管理公司处置不良资产的变现模式、近年国有企业改革的模式,初步说明了金融资产管理公司处置资产实际上是推进国有企业改革的方式之一,同时重点阐述了资产管理公司在其中遇到的法律问题并提出了相关的一些立法建议。     

Plant closures,precariousness and policy responses: Revisiting MG Rover 10 years on

With automotive plants being closed in Australia and western Europe, this article reflects on the employment status of ex-MG Rover (MGR) workers following the closure of the Longbridge plant in 2005. In particular, it draws on Standing's typology of labour market insecurity and uses a mixed-methods approach including an analysis of a longitudinal survey of some 200 ex-MGR workers, and in-depth interviews with ex-workers and policy-makers. While the policy response to the closure saw significant successes in terms of the great majority of workers successfully adjusting into re-employment, and with positive findings in terms of re-training and education, the paper finds significant challenges in terms of security of employment, income, job quality and representation at work years after closure. In particular, the paper posits that the general lack of attention to employment security at the macrolevel effectively undermined elements of a positive policy response over the longer run. This in turn suggests longer-term policy measures are required to address aspects of precariousness at work.     

Whom should we believe? Aggregation of heterogeneous beliefs

We examine the collective risk attitude of a group with heterogeneous beliefs. We prove that the wealth-dependent probability distribution used by the representative agent is biased in favor of the beliefs of the more risk tolerant consumers. Moreover, increasing disagreement on the state probability raises the state probability of the representative agent. It implies that when most disagreements are concentrated in the tails of the distribution, the perceived collective risk is magnified. This can help to solve the equity premium puzzle. We show that the trade volume and the equity premium are positively correlated.