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Institutional Investors And Adrs: Three Essays, Deqing Li

Theses and Dissertations in Business Administration

The three essays which constitute this research study the effects of institutional investors in the ADRs' market.

Essay one studies the herding and feedback trading by institutional investors in the ADRs market. The empirical results find that there is a strong positive relation between changes in the ADRs institutional ownership and returns measured over the same period—the herding year (t = month 0 to 11). The ADR portfolios experiencing the largest increase in institutional ownership outperform those experiencing the largest decrease by 15.33 percent per year over the herding year. In addition, return continuation exists for the two years following …

Antecedents And Consequences Of Consumer Ethnocentrism Across Russia's Three Sub-Cultures, Shawn Thelen

Theses and Dissertations in Business Administration

Shimp and Sharma (1987) extended the concept of ethnocentrism to commercial products with the development of a 17-item Consumer Ethnocentrism Scale [CETSCALE]. Consumer ethnocentrism is the belief that purchasing imported products harms the local economy, increases unemployment, and is morally wrong (Skimp and Sharma 1987). Shimp and Sharma (1987) called for studies to determine antecedents to consumer ethnocentrism and to apply the CETSCALE across geographic and regional segments. This dissertation addresses a void in the literature by examining antecedents; Inglehart's Materialism/Post Materialism (1977) and Holbrook's Nostalgia (1993), and outcome variables; product purchase preference, of consumer ethnocentrism across sub-cultures postulated to …

Deception In Advertising: A Content Analysis Of The Legal Parameters Of Deception, E. Carla Mitchell

Theses and Dissertations in Business Administration

One of the primary attributes of a free market economy is the uninhibited flow of truthful information regarding the goods and services available in the marketplace (Azcuenaga 1995). This free flow of information, in the form of advertising, enhances market performance by informing consumers and enabling firms to compete equitably based on the attributes of their offerings. Studies reveal that, for the vast majority of marketing managers, the regulatory environment serves as the primary influence in advertising strategy development and decision-making (Davis 1994). However, in their theory development, behavioral researchers often ignore the legal aspects promulgated by the FTC. Furthermore, …