Mobile in‐store advertising is becoming increasingly important, as it offers new options for retailers to communicate with customers at the point of sale. This study investigates how mobile in‐store advertising should be designed in order to be most effective. The authors identify three value drivers (price promotion, location, and personalization) and examine their effect on customers’ purchase intention. The influence of the three value drivers was tested in a large‐scale representative study with a laboratory experimental design. The findings indicate that all three value drivers increase purchase intention. Surprisingly, the authors find that price promotions are the least important value driver, whereas the location of receiving a mobile ad is the strongest driver of purchase intention. An interaction effect between location and personalization was also found to be significant. Personalization close to the product has little impact on purchase intention. The findings have important implications for researchers and retail managers, particularly when designing mobile in‐store advertising campaigns.
The influence of credit ratings on eurobond prices has been neglected for a long time. It is questionable whether non-US investors relate their investment decisions on US ratings and whether ratings from US agencies are relevant information sources for international capital markets. This paper examines daily excess eurobond returns associated with announcements of watchlistings and rating changes by Standard & Poor's and Moody's. Significant bond price reactions are observed for announcements of downgradings and negative watchlistings while upgradings and positive watchlistings do not cause announcement effects. Distinct from the results on national capital markets the international evidence shows that besides actual yield level and issuer type the issuer nationality is a key factor that determines the intensity of price reactions after downgrades. The price reaction is also significantly stronger for downgrades into speculative grade. This indicates, that the announcement effects can in part be explained by price pressure effects due to regulatory constraints rather than original information content of rating changes. Copyright
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