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The Customer Is King : Mutual Fund Relationships And Analyst Recommendations, Ping Liu
The Customer Is King : Mutual Fund Relationships And Analyst Recommendations, Ping Liu
Theses & Dissertations
I investigate whether the business relations between mutual funds and brokerage firms influence sell-side analyst coverage and recommendations. Using a comprehensive sample of analyst recommendations in China over the 2004-2008 period, I find that the likelihood of analyst coverage and analysts’ relative recommendations, benchmarked against consensus recommendations, are positively associated with the mutual fund business relationship. I measure the business relation by the weight of a stock in the mutual fund client’s portfolio and the commission revenue generated from the mutual fund clients. My results show that mutual funds take advantage of these optimistic recommendations by selling the stocks. I …
"Seeing Is Believing?" : A Persuasion Knowledge Model On Attitudinal Evaluations In Advertisements, Yan Wu
"Seeing Is Believing?" : A Persuasion Knowledge Model On Attitudinal Evaluations In Advertisements, Yan Wu
Theses & Dissertations
This study examines the effects of individuals' beliefs about persuasion tactics (i.e., persuasion knowledge) evoked in an advertisement on their attitudes toward the advertisement and the advertised brand. Drawing on persuasion knowledge theory, this thesis develops a conceptual model that argues how ad image incongruence, defined as an inappropriate match-up between model type (western versus local) and advertised product category (western product category versus local product category) featured in advertisements, leads to the use of persuasion knowledge, which in turn affects attitudinal evaluations. A series of experimental studies were conducted. The results suggest that individual’s use of persuasion knowledge mediates …
Improving The Profitability Of Direct Marketing : A Quantile Regression Approach, Xi Zhang
Improving The Profitability Of Direct Marketing : A Quantile Regression Approach, Xi Zhang
Theses & Dissertations
Direct marketing is to target consumers who are most likely to respond. A number of target selection methods have been employed to select potential customers. These methods either only consider the customer response probability and ignore the profit issue or assume that the estimates of profit are homogenous across customers when considering the expected amount of profit. Furthermore, the traditional analytical techniques based on ordinary least squares (OLS) regression, which focus on the average customer, cannot examine the differences of various customer groups or account for customer heterogeneity in profitability estimates. Quantile regression, instead of the point estimate for the …