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Full-Text Articles in Business

Examining Net Promoter Score (Nps) For Recommending Products In Export Markets: A Case Of Turkish Products And Brands In The United States, Aycan Duran Tekoglu, Musa Pinar, Faruk Guder Apr 2025

Examining Net Promoter Score (Nps) For Recommending Products In Export Markets: A Case Of Turkish Products And Brands In The United States, Aycan Duran Tekoglu, Musa Pinar, Faruk Guder

AMTP Proceedings 2025

This study examines the Net Promoter Score (NPS) for recommending products in the export market by exploring the impact of various factors on NPS for Turkish products and brands in the United States. Specifically, the research considers factors that include industry or product categories, the information sources used to learn about the products, the years of purchasing, and consumer demographics. As a first study applying NPS in an international marketing context, the findings based on 427 surveys provided insights into the most purchased product categories, sources of information consumers use, NPS, and the impact of consumer demographics on NPS. Overall …


The Study Of Factors Influencing The Commercialization Of Startup Ideas, Ebadallah Yarmoradian, Zahra Saffari, Mahdi Maskani Apr 2025

The Study Of Factors Influencing The Commercialization Of Startup Ideas, Ebadallah Yarmoradian, Zahra Saffari, Mahdi Maskani

AMTP Proceedings 2025

Commercialization of startups transforms innovative ideas into marketable products or services, addressing challenges like business model design, target market identification, investment attraction, and resource management. This study examines these challenges and highlights differences between product and service commercialization. Leveraging social and digital technologies, the research emphasizes improving communication networks, customer engagement, and process efficiency. It also explores modern technology's role in supporting nonprofit organizations and NGOs. Key findings underline the importance of technology-driven marketing, intelligent financial management, and robust communication networks. This paper offers practical recommendations for startups and nonprofits to tackle commercialization challenges effectively.


Exploring The Drivers Of Customers’ Willingness To Accept Chatbot Intervention In Service Recovery, Wen-Hai Chih, Kai-Yu Wang, Hope W. Banda Apr 2025

Exploring The Drivers Of Customers’ Willingness To Accept Chatbot Intervention In Service Recovery, Wen-Hai Chih, Kai-Yu Wang, Hope W. Banda

AMTP Proceedings 2025

This study investigates the factors influencing customers' acceptance of chatbot intervention in service recovery. Drawing on the realism maximization theory (RMT) and the service robot acceptance model (SRAM), we examine the effects of chatbot message warmth and relevance on service recovery outcomes. Our findings, based on data from 319 participants, reveal that message warmth and message relevance reduce uniqueness neglect, which in turn increases perceived chatbot artificiality and reduces perceived chatbot rapport and perceived chatbot intelligence. Perceived chatbot rapport and perceived chatbot intelligence, in turn, positively impact customers' willingness to accept chatbot intervention. The mediating roles of uniqueness neglect, perceived …


Demystifying Proactive Customer Helpers: Where Do We Find Them?, Estelle Van Tonder, Sam Fullerton Apr 2025

Demystifying Proactive Customer Helpers: Where Do We Find Them?, Estelle Van Tonder, Sam Fullerton

AMTP Proceedings 2025

Amid the growing interest in proactive customer helpers, extant research offers surprisingly little guidance on where to find them. Of interest to this study are proactive helpers taking personal initiative in assisting other customers to avoid harmful brands. Guided by the attitude-behavior phenomenon, selected attitudes and behaviors were examined among 347 customers in the United States using survey research. Latent profile analysis aided in obtaining further clarification regarding the profile characteristics of customers who proactively assist other customers with their brand avoidance behaviors in an anti-consumption context. These profile characteristics are useful, as they provide strategic direction on where to …


“Do I Stand On My Own” Or “Are We All In This Together”? The Effect Of Collectivist Marketing Messages During Challenging Times Like Pandemic, Milad Hour, Golshad Parsimoghadam Apr 2025

“Do I Stand On My Own” Or “Are We All In This Together”? The Effect Of Collectivist Marketing Messages During Challenging Times Like Pandemic, Milad Hour, Golshad Parsimoghadam

AMTP Proceedings 2025

During the pandemic, as people dealt with fatalities, lockdowns, and the psychological impact of reduced social interactions, some marketing messages still captured significant public attention. What was the key element contributing to the success of these communications during such challenging times? This study focuses on the role of collectivism as a stress-coping mechanism included within marketing communications. Analyzing approximately 56,000 brand-generated posts on Platform X, the research examines how the use of collectivist language (e.g., we, us, etc.) relates to message likability, particularly as the pandemic nears its peak. The findings reveal that collectivist terms are positively associated with the …


Integrating Consumer Behavior Theories: Understanding Modern Consumer Decision-Making, Khusbu Rahman Apr 2025

Integrating Consumer Behavior Theories: Understanding Modern Consumer Decision-Making, Khusbu Rahman

AMTP Proceedings 2025

This paper synthesizes recent consumer behavior research published in the Journal of Consumer Research between 2020-2024, addressing a significant gap in the consistent application of established theories across different contexts. The study examines key theoretical frameworks, including the Theory of Planned Behavior and the Stimulus-Organism-Response model, and their application in understanding modern consumer decision-making. Through a systematic literature review of 105 articles, the research highlights the complex interplay between rational and emotional factors in consumer behavior, the importance of psychological comfort and attachment in product relationships, and the role of framing and context in decision-making. The findings emphasize the need …


Fueling The Ideal: The Role Of Energy Drink Marketing In Shaping Body Image On Instagram, Kimberly Flanders, Laurie Lawrence, Natalya Vodopyanova, Darlene Natale Apr 2025

Fueling The Ideal: The Role Of Energy Drink Marketing In Shaping Body Image On Instagram, Kimberly Flanders, Laurie Lawrence, Natalya Vodopyanova, Darlene Natale

AMTP Proceedings 2025

Energy drink sales in the United States have experienced tremendous growth over the past several decades with projections for continued growth, making effective marketing strategies increasingly important for industry players. Central to these strategies is building brand awareness and targeting the right consumer demographic, particularly young adults aged 18-34, who make up the largest group of energy drink consumers. This demographic is heavily influenced by media portrayals of fitness and success. Red Bull and Monster, two of the leading brands, are dominant in brand awareness, with significant influence through social media platforms like Instagram. This research examines Instagram posts from …


The Influence Of Consumer Dispositions In Cross-Cultural Consumer Behavior: The Mediating Roles Of Cosmopolitanism, Affinity, Ethnocentrism, And Animosity, Md Abrar Fahad Khan, Attila Yaprak, Andrew Byungwook Chung Apr 2025

The Influence Of Consumer Dispositions In Cross-Cultural Consumer Behavior: The Mediating Roles Of Cosmopolitanism, Affinity, Ethnocentrism, And Animosity, Md Abrar Fahad Khan, Attila Yaprak, Andrew Byungwook Chung

AMTP Proceedings 2025

This paper investigates how socio-demographic factors, cultural variables, and attitudes interact with positive and negative consumer dispositions—cosmopolitanism, affinity, ethnocentrism, and animosity—to influence pre-purchase, purchase, and post-purchase behaviors. Anchored in five key theories—attitude theory, laddering theory, social identity theory, self-identity theory, and identity theory—the study highlights the mediating roles of these dispositions in cross-cultural consumer behavior. Positive dispositions such as cosmopolitanism and affinity foster openness to foreign brands, while negative dispositions like ethnocentrism and animosity deter purchases of foreign products. This integrated framework offers a comprehensive understanding of consumer behavior by bridging socio-demographics, cultural influences, and psychological dispositions. The study contributes …


Exploring The Effects Of Strategic Orientation Combinations: The Moderating Role Of Industry Context, Mohammad Elayyan, Zonghui Li, Douglas Johansen, Caitlin Sockbeson, John Shaw Apr 2025

Exploring The Effects Of Strategic Orientation Combinations: The Moderating Role Of Industry Context, Mohammad Elayyan, Zonghui Li, Douglas Johansen, Caitlin Sockbeson, John Shaw

AMTP Proceedings 2025

Prior studies have explored the effect of market orientation and entrepreneurial orientation on firm performance separately. However, when making strategic decisions, firms often integrate marketing activities and entrepreneurial initiatives, which indicate various combinations of strategic orientation. This study employs an integrated perspective to examine the impact of various market and entrepreneurial orientation combinations on firm performance. In addition, it argues that the impact of strategic orientation on firm performance is contingent upon industry context. Using a sample of 182 manufacturing firms listed on the S&P 500, this study explores the joint effects of strategic orientation combinations (i.e., market orientation, entrepreneurial …


Authentic Leadership As Predicted By The Fisher Temperament Inventory Scales, Stephanie J. Giddings Apr 2025

Authentic Leadership As Predicted By The Fisher Temperament Inventory Scales, Stephanie J. Giddings

PhD in Organizational Leadership

Authentic leadership has garnered increasing attention from scholars and practitioners for its emphasis on ethical and transparent leadership practices that foster positive organizational outcomes. Despite its popularity, research into its antecedents remains underdeveloped. This study is a response to calls to examine potential psychometric predictors of authentic leadership, focusing on temperament as a biologically-rooted factor. This quantitative research involved surveying 338 U.S. leaders on temperament and authentic leadership. Temperament, as measured by the Fisher Temperament Inventory (FTI), offers a neuroscience-based perspective and resolves the potential crossover issues found in the widely studied Five-Factor Model (FFM). Using the Authentic Leadership Questionnaire …


2025 April, Morehead State University. Office Of Communications & Marketing. Apr 2025

2025 April, Morehead State University. Office Of Communications & Marketing.

Morehead State Press Release Archive, 1961 to the Present

Press releases for April of 2025.


Benford's Law And The Impact Of Director Blockholders, Ying "Caroline" Chen Apr 2025

Benford's Law And The Impact Of Director Blockholders, Ying "Caroline" Chen

Presentations - 2025

This presentation was given by a faculty member on Benford's Law and it's effects on management.

"Benford's Law is a mathematical law which relates to the leading digits of numbers in naturally occurring tables. The probability of the first digit equaling some number d is roughly equal to

𝑃 𝑑 = 𝑙𝑜𝑔10 (1 + 1 𝑑)

The probability of the second digit equaling some number d is roughly equal to

𝑃 𝑑 = σ𝑥=1 9 𝑙𝑜𝑔10 (1 + 1 10𝑥+𝑑)

Durtschi, Hillison, and Pacini (2004) – Analysis using Benford’s Law is primarily useful on sets composed of mathematical combinations of …


The Effect Of Perceived Brand Betrayal On Brand Hate, Avoidance-Like And Attack-Like Strategies: A Comparative Study Of Customers With/Without Past Negative Experiences, Nasrin Rasouli, S. Mostafa Rasoolimanesh, Mohammad Alimohammadirokni, Ayatollah Momayez Apr 2025

The Effect Of Perceived Brand Betrayal On Brand Hate, Avoidance-Like And Attack-Like Strategies: A Comparative Study Of Customers With/Without Past Negative Experiences, Nasrin Rasouli, S. Mostafa Rasoolimanesh, Mohammad Alimohammadirokni, Ayatollah Momayez

Research outputs 2022 to 2026

This study explores the impact of perceived brand betrayal on two types of brand hate and their subsequent effects on consumer behavioral responses. It also investigates how these relationships vary between customers with/without past negative experiences. Data about luxury hotels were obtained using an online survey in Iran. Partial least squares structural equation modeling was used for data analysis. The findings indicate that perceived betrayal positively influences passive and active brand hate, leading to negative behavioral responses. Moreover, a significant difference was found between the two groups of customers with/without past negative experiences regarding the effect of perceived betrayal on …


Borrowing In The Dark: The Role Of Financial Education In Payday Loan Dependence, Abdullah Mohammad Mahi, Solomon Wang Apr 2025

Borrowing In The Dark: The Role Of Financial Education In Payday Loan Dependence, Abdullah Mohammad Mahi, Solomon Wang

Posters - 2025

Payday loans, a form of short-term, high-interest credit, have become a contentious financial instrument in the United States. Though they provide immediate access to cash for individuals, they are largely criticized for reinforcing consumers' financial vulnerability. With APRs consistently surpassing 400%, payday loans not only carry high risk but continue to be widely popular, attracting an estimated 12 million Americans every year. This research delves into the relationship between financial literacy and the utilization of payday loans. The payday lending market thrives by targeting individuals in financial distress, who are typically lowincome, young, and economically marginalized, making them particularly susceptible …


Who’S On First, What’S On Second An Analysis Of Major League Baseball Fans And Multiple Points Of Attachment, Ryan W. Dastrup Apr 2025

Who’S On First, What’S On Second An Analysis Of Major League Baseball Fans And Multiple Points Of Attachment, Ryan W. Dastrup

Theses and Dissertations

Need to write


A Multifaceted Perspective Of Scaling Entrepreneurial Innovation And Impact In Developing Country Contexts, Chanyong Yoo Apr 2025

A Multifaceted Perspective Of Scaling Entrepreneurial Innovation And Impact In Developing Country Contexts, Chanyong Yoo

Theses and Dissertations

This paper redefines the understanding of venture scaling in emerging and developing countries through a longitudinal case study of over a decade of transformative growth by Gojek, a local venture in Indonesia. Contrary to the replication logic common among global players—which prioritizes rapid and broader market opportunity expansion using a single, proven business model—Gojek adopted a more incremental and depth-oriented approach. By identifying untapped local demands and developing new market opportunities through stacking different business models, Gojek generated both demand- and supply-side complementarities within its business model portfolio that led to subsequent scaling. The findings suggest that scaling in developing …


Exploiting Structures In Reinforcement Learning: Multi-Agent Homogeneity, Euclidean Symmetry, And Natural Languages, Dingyang Chen Apr 2025

Exploiting Structures In Reinforcement Learning: Multi-Agent Homogeneity, Euclidean Symmetry, And Natural Languages, Dingyang Chen

Theses and Dissertations

Reinforcement learning (RL) has emerged as a powerful paradigm for decision-making in complex environments. However, many RL tasks exhibit inherent structural properties—such as homogeneity, symmetry, and linguistic patterns—that are often underutilized, leading to inefficiencies in learning and generalization. This dissertation systematically exploits these structures to improve the efficiency, scalability, and robustness of RL algorithms across multi-agent and sequential decision-making settings. First, we investigate homogeneity in multi-agent systems, where agents share similar roles and objectives. By leveraging this structure, we develop communication-efficient actor-critic methods for homogeneous Markov games, enabling scalable learning with reduced coordination overhead. Second, we introduce Euclidean symmetry in …


Comparing And Contrasting Diversity And Inclusion Concepts: An Identity-Blind And Identity-Conscious Application, William Ward Apr 2025

Comparing And Contrasting Diversity And Inclusion Concepts: An Identity-Blind And Identity-Conscious Application, William Ward

Theses and Dissertations

This dissertation systematically investigates the differences between diversity and inclusion concepts. Notably, this dissertation focuses on exploring the differences between diversity and inclusion climates and recruitment messages. This paper first explores the theoretical traditions that are often applied to diversity (social identity theory) and inclusion climate (optimal distinctiveness theory) and offers guidance on why individuals may react to diversity and inclusion climates differently from the basis of these theoretical foundations. Additionally, this dissertation expands existing theory by promoting a more novel approach of differentiating diversity and inclusion through exploring their relationships with identity-blind and identity-conscious human resource practices. The first …


Augmented, Not Replaced: The Impact Of Ai On Equity Research Analysts, Lawrence Carrea Apr 2025

Augmented, Not Replaced: The Impact Of Ai On Equity Research Analysts, Lawrence Carrea

Senior Theses

The adoption of AI tools into professional workflows has the chance to revolutionize major industries such as the financial services industry. Because equity research is a space that is heavily dependent on data aggregation, forecasting, and report generation, there is a threat of AI replacing human analysts in the next five years. The goal of this study is to determine how the adoption of AI tools will affect the equity research career field. To achieve this goal, a mixed-method approach is employed through a quantitative and qualitative survey. Results from the survey indicate that most finance professionals are already using …


Woven By Culture: A Comparative Study Of Traditional Dress Across Regions And The Societal Forces Behind Fashion, James T. Granger Apr 2025

Woven By Culture: A Comparative Study Of Traditional Dress Across Regions And The Societal Forces Behind Fashion, James T. Granger

Senior Theses

This study attempts to examine how societal influences that different countries have obtained from years past affect their traditional fashion. By sketching 200 traditional female dresses from every sovereign country in the world, I have taken the time to analyze and create depictions of their sociological and stylistic choices. I have chosen to examine the countries of Cambodia, Republic of Congo, Croatia, Cuba, Finland, Iran, Kazakhstan, Mongolia, Panama, and Tonga as they all represent different regions of the globe. Breaking down each of their dresses into their specific garments and accessories is essential to better understand the culture and the …


Unveiling Belonging: Women Entrepreneurs’ Belonging Strategies To Navigate The Embedding Process, Saskia Stoker, Ana Cruz-Garcia, Ingrid Wakkee Apr 2025

Unveiling Belonging: Women Entrepreneurs’ Belonging Strategies To Navigate The Embedding Process, Saskia Stoker, Ana Cruz-Garcia, Ingrid Wakkee

Dept. of Marketing & International Business Publications

Purpose

Opportunity-driven women entrepreneurs encounter gendered challenges in leveraging social networks essential for business development. This research builds on Stead (2017), exploring how women navigate these challenges and foster belonging within these networks. Utilising a post-structural feminist lens, we aim to understand the strategies employed by women entrepreneurs to maintain embeddedness in social networks. Our findings contribute to an understanding of the complex interplay between gender, belonging strategies and embeddedness in entrepreneurship.

Design/methodology/approach

This study draws on in-depth interviews (31) with opportunity-driven women entrepreneurs. Thematic analyses were conducted to capture the women’s understandings of belonging and embedding in social networks …


Ai, Blockchain, And Autonomous Innovation : Charting The Future Of Intelligent Enterprises, Shubham Gupta Apr 2025

Ai, Blockchain, And Autonomous Innovation : Charting The Future Of Intelligent Enterprises, Shubham Gupta

Harrisburg University Other Works

In today’s digital economy, artificial intelligence (AI) and blockchain are twin forces driving transformative change. AI and blockchain each rose to prominence on their own, but together they hold the promise of revolutionizing how businesses operate and create value. AI systems can analyze massive datasets, automate complex decisions, and even mimic human learning and reasoning. Blockchain technology, on the other hand, enables secure and tamper-proof transactions by distributing records across a network, ensuring transparency and trust without relying on a central authority. The convergence of these technologies is ushering in new possibilities for automation, smarter decision-making, and secure digital transactions …


Lemonade: Mini-Case Study Report, Grace Boguslawski, Seth Daup, Aditya Jain, Chaitra Pirisingula, Caden Punteney Apr 2025

Lemonade: Mini-Case Study Report, Grace Boguslawski, Seth Daup, Aditya Jain, Chaitra Pirisingula, Caden Punteney

B-Corp Case Studies by UNL Raikes Seniors

Lemonade disrupts the traditional insurance industry through its innovative use of AI-driven underwriting and claims processing. By leveraging AI to replace traditional brokers, Lemonade positions itself as a technologically advanced and socially responsible alternative in a legacy-driven market. As a certified B-Corp, the company emphasizes its mission-driven approach, notably donating leftover premiums to nonprofit organizations selected by its customers. This case study examines the strategic challenges arising from Lemonade’s position in an evolving AI landscape. It explores how Lemonade can maintain its differentiation while navigating increasing competition, ethical considerations, and the diminishing sustainability of AI as a unique long-term competitive …


Aesop Under L'Oreal: Growth Vs. Brand Integrity, Gowrav Ghatamaneni, Spencer Godina, Reed Mchenry, Cole Miller, Shruti Pradeep Apr 2025

Aesop Under L'Oreal: Growth Vs. Brand Integrity, Gowrav Ghatamaneni, Spencer Godina, Reed Mchenry, Cole Miller, Shruti Pradeep

B-Corp Case Studies by UNL Raikes Seniors

Founded in Melbourne, Australia, in 1987, Aesop has emerged as a global luxury skincare brand known for its minimalist packaging, commitment to sustainability, and sensory in-store experience. In 2023, L'Oréal Groupe acquired Aesop from Natura & Co. in a deal valued at $2.5 billion, marking the largest acquisition in L'Oréal's history. The brand's dedication to aesthetics has set it apart in the competitive beauty industry. But how does a brand built on small-scale, curated retail experiences navigate the expansion driven by a multinational owner? Can Aesop maintain its core values while scaling up?


Institutional Cross-Ownership Of Peer Firms And Revelatory Price Efficiency, Young Jun Cho, Holly I. Yang, Yue Zhao Apr 2025

Institutional Cross-Ownership Of Peer Firms And Revelatory Price Efficiency, Young Jun Cho, Holly I. Yang, Yue Zhao

Research Collection School Of Accountancy

We argue that cross-ownership increases the amount of private information in stock price, enhancing the ability of stock price to provide feedback to managers. Consistent with this argument, we find greater cross-ownership heightens a firm’s investment-q sensitivity. This effect is stronger for firms with a lower propensity for voluntary disclosure and for firms whose managers hold less private information. Furthermore, we find that cross-ownership is negatively associated with the sensitivity of a firm’s investment to its peers’ stock prices. Additionally, cross-ownership has a stronger impact on the investment-q sensitivity when measured among investors who trade more actively the …


Covid-19 And Investors' Trading Behavior: Evidence From The New Zealand Equity Market, Finn West Wilkinson, Marinela Adriana Finta, Olena Onishchenko Apr 2025

Covid-19 And Investors' Trading Behavior: Evidence From The New Zealand Equity Market, Finn West Wilkinson, Marinela Adriana Finta, Olena Onishchenko

Research Collection Lee Kong Chian School Of Business

This paper examines the trading behavior of retail and institutional investors during the COVID-19 pandemic in New Zealand. Using transaction-level data, it compares how retail and institutional investors trade over the government announcements, lockdown, and reopening periods. Retail and institutional investors' trading intensifies around government announcements, which facilitates attenuating illiquidity during the lockdown. Nevertheless, while retail trading is substantially more prominent during the lockdown than over the control and reopening periods, institutional investors do not trade significantly more per se or on announcements during the lockdown but trade less during the reopening. Their trading also relates to contemporaneous returns, and …


Do Bank Ceos Learn From Crisis Experiences?, Gloria Yang Yu Apr 2025

Do Bank Ceos Learn From Crisis Experiences?, Gloria Yang Yu

Research Collection Lee Kong Chian School Of Business

Does the early-career exposure of bank CEOs to the 1980s savings and loans (S&L) crisis affect the outcomes of banks they subsequently managed? We measure the S&L crisis exposure by the bank failure rate in the states where CEOs worked during the S&L crisis. Armed with this measure, we find that banks managed by CEOs with higher S&L crisis exposure took on less risk and that these banks better survived the financial crisis of 2008. In particular, CEOs adjusted risk attitudes in areas causing the S&L crisis: their more intense crisis experience reduced banks’ interest rate risk, exposure to risky …


Digital Transformation And The Future Of Work: Closing The Digital Skills Gap, Siu Loon Hoe Apr 2025

Digital Transformation And The Future Of Work: Closing The Digital Skills Gap, Siu Loon Hoe

Research Collection School Of Computing and Information Systems

The purpose of this article is to discuss the near future digital technology landscape and propose several specific in-demand digital skills for organizations and individuals in the next few years. This article reviews some recent publications from representative inter-governmental, governmental, non-governmental, and commercial organizations on the rise of digital technologies and corresponding growth in digital jobs. Within this context, several specific in-demand skills are proposed by the author who has written a book on the topic of digital transformation. Rapid advancements in digital technologies continue to shape organizational practices and the future of work. To take advantage of emerging digital …


Decarbonising Digital Infrastructure And Urban Sustainability In The Case Of Data Centres, Felicia H. M. Liu, Karen P. Y. Lai, Bertrand Seah, Winston T. L. Chow Apr 2025

Decarbonising Digital Infrastructure And Urban Sustainability In The Case Of Data Centres, Felicia H. M. Liu, Karen P. Y. Lai, Bertrand Seah, Winston T. L. Chow

Research Collection College of Integrative Studies

This paper critically assesses the complex interplay between urban transitions of digitisation and sustainability. Building on a mixed-method research design, we unpack the challenges of decarbonising digital infrastructure while attending to urban sustainability goals in a land- and water-scarce country facing significant physical climate risks. We identify transferrable lessons on the economic, technological, and environmental synergies and trade-offs behind data centre development and argue that stewarding the global data centre sector towards sustainability requires an ecosystem-wide approach. We identify implementation gaps across five key dimensions: technological innovation, policy and regulation, finance, infrastructure, and people. We find that the progress and …


Sex & Startups, Jens Frankenreiter, Talia B. Gillis, Eric L. Talley Apr 2025

Sex & Startups, Jens Frankenreiter, Talia B. Gillis, Eric L. Talley

Faculty Scholarship

Private law offers a unique solution to the problem of long-term fiscal commitment. When Congress enacts a spending program that will take many years to reach fruition, there is a risk of a subsequent Congress or President cutting off funding in the interim. There is no escape from the problem within appropriations law itself. One solution, however, is to entrust private sector allies as vessels of long-term commitment. As a matter of political economy, that solution draws on policy-feedback theory. As a matter of law, the solution rests on a mechanism that Congress already uses but has not recognized its …