a b s t r a c t Keywords:Global brands Brand equity Corporate social responsibility StakeholdersIn this paper, we argue that corporate social responsibility (CSR) to various stakeholders (customers, shareholders, employees, suppliers, and community) has a positive effect on global brand equity (BE). In addition, policies aimed at satisfying community interests help reinforce the credibility of social responsibility policies with other stakeholders. We test these theoretical contentions by using panel data comprised of 57 global brands originating from 10 countries (USA, Japan, South Korea, France, UK, Italy, Germany, Finland, Switzerland, and The Netherlands) for the period from 2002 to 2008. Our findings show that CSR toward each of the stakeholder groups has a positive impact on global BE. In addition, global brands that follow local social responsibility policies in communities obtain strong positive benefits through the generation of BE, enhancing the positive effects of CSR toward other stakeholders, particularly customers. Therefore, for managers of global brands, when generating brand value, it is particularly effective to combine global strategies with the need to satisfy the interests of local communities.

Purpose -This paper aims to study how logo design characteristics influence consumer response. Based on an in-depth literature review on consumer responses to logo design, the authors included in this research one fundamental dimension of logo design, namely, naturalness and investigated the influence of the different types of natural logo designs on affective response. Design/methodology/approach -In total, 96 logos were selected as design stimuli. The logos were previously classified, according to the naturalness of the logo design, as having an abstract, cultural or organic design. Responses were gathered through a survey in Portugal, including two studies with 220 participants. Findings -Results show that naturalness is an essential logo design element which significantly influences consumer affective responses to the logo, and that natural logos are clearly preferred to abstract logos. Additionally, this research indicates that, within natural logos, organic designs are favored over cultural designs. Practical implications -The findings presented suggest that affect toward unknown organic logos is at the same level as affect toward well-known abstract logos. This is a relevant finding from a managerial point of view, as familiarity, an essential cognitive response toward the brand that has a cost for the firm, can be replaced cost-free with unknown organic logos. Originality/value -This paper is a first exploration of responses to different types of natural logo design. The results should guide managers in selecting or modifying logo designs for achieving a positive affective response.

a b s t r a c t Keywords:Corporate social responsibility Brand equity Shareholders' commitment Customer loyaltyThe study here examines the interaction between shareholder value and customer satisfaction, as well as the impact on a firm's brand equity. Customer satisfaction may have a positive effect on brand equity, except when managers show excessive customer orientation, in which case the effect is negative because of reductions in shareholder value. The empirical analysis uses incomplete panel data pertaining to 69 firms from 11 nations during the period 2002-2005 and supports the theoretical contentions. This result warns of the perverse effect on brand equity of implementing policies focused exclusively on satisfying customers at the expense of shareholders' interests.

No abstract

Uncertainty Avoidance and the Exploration-Exploitation Trade-off AbstractPurpose -This study investigates how a firm's uncertainty avoidance -as indicated by the headquarters' national culture -impacts firm performance by affecting exploratory (product innovation) and exploitative (brand trademark protection) activities. It aims to show that firms characterized by high levels of uncertainty avoidance may be less competitive in the exploratory product development stage, but may be more competitive in the exploitative commercialization stage by producing more durable brands. Findings -Results show that uncertainty avoidance lowers the rate of product innovation, but helps firms to appropriate more value by greater protection of their brands. Uncertainty avoidance thus creates an exploration-exploitation trade-off.Practical Implications -This study provides useful insights for managers regarding where to locate a firm's front-end development (product innovation) activities and commercialization (brand trademarking protection) activities.Originality/value -This is the first study to demonstrate the influence of a cultural trait on both explorative and exploitative stages simultaneously. As a methodological contribution, it shows how objective, longitudinal brand trademark data can be used to analyze the long-term impact of marketing activities on firm performance.