Current Sales Research Articles

An Assessment of Cash Flow Manipulation as a Form of Real Activities Manipulations among Quoted Companies in Nigeria

The study examined the prevalence of cash flow manipulations as a form of real activities manipulations in the quoted companies in Nigeria between 200 and 2010. The study makes use of 71 quoted companies in Nigeria and cash flow from operations model is specified as function of current sales and change in current sales. The residual of the estimated cash flow model is the abnormal cash flow which represents the proxy for real activities manipulations. The method of analysis adopted is the pool regression model. The estimated model shows that both sales and current sales levels of the firms are very important determining factor of cash flow and hence the low levels of abnormal cash flow which signifies prevalence of real activities manipulations in among the quoted companies in Nigeria. It is therefore recommended that relevant bodies like the audit committee will have to pay more attention to the cash flow process of these quoted firms since the study has shown that cash flow from operations of these firms are highly subjected to manipulations.

New and Enduring Empirical Generalizations on Advertising Elasticity: A Meta-Analysis of 872 Estimates

This study conducts a meta-analysis of 872 short-term brand-level advertising elasticities estimated in 57 studies published between 1960 and 2008. Short-term advertising elasticity is the percent change in a brand’s current period sales for one percent change in the brand’s current period advertising. The study finds 16 new and 7 enduring empirical generalizations on advertising elasticity. The most important ones are the following: The average advertising elasticity is .12, which is significantly lower than the prior meta-analytic mean of .22 (Assmus, Farley and Lehmann 1984). The average advertising elasticity has been relatively stable over the last four decades (1964-2004). Only about half (53%) of the advertising elasticities are significantly greater than zero. Advertising elasticities are higher a) for durable goods than nondurable goods, b) in the early stage of the life cycle than in the mature stage, c) for yearly data than for daily or quarterly data, d) for TV advertising than print advertising, and e) when advertising is measured in relative than in absolute terms. The authors discuss the implications of these findings.

Tropical Fruits as an Opportunity for Sustainable Development in Rural Areas: The Case of Mango in Small-Sized Sicilian Farms

Over the last decades, in many rural areas in Southern Europe, farmers have abandoned agricultural activity, especially on small-sized farms, leading to an exodus from rural areas towards urbanized ones. In this context, in the early 1980s, some Sicilian farmers introduced mango on their small-sized farms, as certain areas of Sicily are well suited to tropical and subtropical crops, but also to meet increasing consumer interest for these fruits, as they are perceived as functional foods. This paper aimed to evaluate the economic sustainability of mango and to determine whether its introduction could be considered as an alternative to traditional crops. In particular, an economic-financial analysis of mango orchards on small-sized Sicilian farms was performed by adopting a discounted cash flow approach. In order to provide as comprehensive information as possible, mango was compared with two traditional crops that have always played an important socio-economic role in Southern Italy: wine grape and orange. Results showed a clear economic convenience for mango orchards, denoting an annual gross margin of 14,617.03 €/ha, on average 20 times higher than orange orchards and just less than 40 times higher in respect to vineyards. The higher profitability of mango was also confirmed without considering public grants for the planting phase, and by varying current sales prices and costs. However, it should be considered that the cultivation of mango could represent an opportunity for sustainable development only for certain Sicilian areas, as it is closely related to favorable pedo-climatic conditions.

Treatment Avenues for Type 2 Diabetes and Current Perspectives on Adipokines.

Diabetes has turned into a pandemic disorder that is affecting millions of people worldwide. Industries are aggressively racing and pursuing research towards the discovery of antidiabetic drug and the current global sale of such drugs are ever on the increase. However, in spite of such massive level of expenditure thereof, WHO projects that by 2030, diabetes will rank as the 7th leading cause of mortality. It is in this context that we have reviewed here the various approaches available and possible towards diabetes management. This review also includes the WHO guidelines for controlling the glycemic levels, which must be known and followed by clinicians for a better diabetes management. Despite having a wealth of FDA-approved therapeutic options for type 2 diabetes majorities of the patients are not able to achieve the appropriate glycemic control due to various factors. The development of new options with actions at multiple foci of diabetic manifestation and better efficacy may potentially help in improving the current scenario of T2D management.

Meeting the Nexus Requirement for the Taxation of Interstate E-Commerce Sales and Use Tax Rules as Applied to Electronic Commerce in the United States.

Meeting the Nexus Requirement for the Taxation of Interstate E-Commerce Sales and Use Tax Rules as Applied to Electronic Commerce in the United States.

Fixed Costs Matter

According to standard economic wisdom, fixed costs should not matter for pricing decisions. However, outside economics, it is widely accepted that firms need to increase their prices after a fixed cost rise. In this note, we show that a liquidity-constrained firm that maximizes lifetime profits should increase its price after a fixed cost increase, if future profits depend positively on current sales. The reason is that then the optimal price is lower than the one that maximizes the current profit. Because the higher cost necessitates higher current profits to avoid bankruptcy, the firm needs to increase its price.

Social media as promotion trend for increasing tourist visit towards digital era

This study examines "Social media as a trend of promotion for increasing tourist visits of the digital era at Tegallantang village Ubud Bali". Marketing leaders need timely and accurate reports about current sales. Smart companies make use of "cookies," records of Web site users that are stored in a personal browser, are smart target marketing users. Companies must translate sales data carefully so as not to draw wrong conclusions. In addition to saving mail expenses, this data manipulation can often achieve a double-digit response rate. The company stores this data (data warehousing) and makes it easily accessible to decision makers. Furthermore, by employing analysis that has expertise in complex statistical methods, companies can "dig" data (data mining) and gather new knowledge about neglected customer segments, and other useful information. The internal data system provides results data, but the marketing intelligence system provides current data (happenings). Marketing intelligence system (marketing intelligence system) is a collection of procedures and resources used by managers to obtain daily information about various developments in the marketing environment. The marketing manager collects marketing intelligence by reading books, newspapers, and trade publications, talking with customers, suppliers, and distributors; observe "social media" on the internet through online discussion groups, e-mail lists, and blogs and meet with other company managers. In this context, social media plays an important role for every effort to connect with digital customers spread across the world indefinitely.

Bovine bile as a bio-surfactant pre-treatment option for anaerobic digestion of high-fat cattle slaughterhouse waste

Bovine bile was assessed as a novel bio-surfactant pre-treatment to enhance anaerobic digestion of lipid-rich dissolved air flotation (DAF) sludge using biochemical methane potential (BMP) tests. Bile was dosed at arbitrary concentrations from 0.2–6 g/L. At 0.6 g bile/L, methane yield increased by 7.08%. Doses above 2 g bile/L produced negative impacts on SMP, kinetics and digestion profile. At 6 g/L bile produced a 6% decrease in specific methane production and up to 79% additional inhibitory duration, delayed time of peak methane production by up to 74%, and slowed total digestion time by up to 65%. Reaction kinetics declined linearly with respect to bile addition, reaching half the control value at 6 g/L bile concentration. Subsequent anaerobic toxicity assays between 1 and 6 g bile/L revealed that bile has an inhibitory effect under BMP testing at these higher doses. The economic viability of using bile as a bio-surfactant was assessed. In comparison to the current use of bile as a sale product to pharmaceutical companies, the addition of 0.2 g bile/L to existing slaughterhouse waste streams could increase the value of bile to 220% of its current sale value. The promising results of bile dosed at 0.6 g/L under BMP testing warrant further investigation into long-term impact of bile pre-treatments of high-fat slaughterhouse wastewater in semi-continuous digestion experiments.

Effects of Some Breeding Criteria on Financial Evaluation Indicators for Dairy Cattle Investment Projects

This study was conducted with the aim of determining the probable effects of different real interest rates (RIR: 5, 6 and 7%), some key breeding criteria such as calving rate (CR: 80, 85 and 90%) and mean lactation milk yield per milking cow (MLML: 5000, 6000 and 7000 kg) on the financial evaluation indicators such as Benefit Cost Ratio (BCR) for a dairy cattle farm investment project taken as model, consisted of 100 heads of Holstein cows, which was established and operated during 20 years period in Turkey. In the study, firstly, current investment and annual operating costs for that kind of dairy cattle farm were determined according to optimal workmanship, housing, maintenance, feeding and health protection and then revenues were calculated from current sale prices of raw milk, slaughtered/breeding animal and manure. For each assumed different real interest rate, calving rate and mean lactation milk yield per milking cow, the parities of unit (1 kg) sale price of raw milk to unit (1 kg) cost of concentrate feed (M/F-parity) (current unit cost of concentrate feed was assumed as to be 1.00 Turkish Lira (TL) were calculated to make BCR that is one of the financial evaluation criteria for the investment projects, as to be 1.00. Calculations showed decreasing each 1% of the real interest rate in Turkey, increasing each 5% of calving rate and increasing each 1000 kg of mean lactation milk yield per milking cow had, separately, about 5-12% positive effect on the parity of unit (1 kg) sale price of raw milk to unit (1 kg) cost of concentrate feed.

Self-consumption with PV + Battery systems: A market diffusion model considering individual consumer behaviour and preferences

The market diffusion of self-consumption technologies, such as photovoltaic and battery systems, is an important aspect in the transition towards a sustainable energy system. Most studies, which address this issue, focus solely on economic aspects and neglect the influence of individual electricity consumption behaviour and consumer preferences on the individual benefit of a self-consumption system. Yet, preferences and behaviour have a significant impact in the market uptake of new technologies, as can be seen in the current sales figures of batteries for the purpose of self-consumption enhancement. The technology is purchased, even though it is still far from economically viable. In this study, a market diffusion model is proposed that is based on 415 individual electricity load profiles, which define the homeowners’ consumption behaviour. Additionally, the results of a market survey are included to explicitly model different user groups and map their varying willingness to pay. The results show that homeowners who are likely to adopt a self-consumption technology are on average characterised by higher annual electricity consumption. The consumption behaviour, and therefore the load profiles are heterogeneous within each user group and therefore, also the individual utility of a battery for self-consumption enhancement differs significantly. The results show that the suggested modelling approach is able to explain the past development of battery installations in private households in Germany. Up until 2030, the model simulations suggest a moderate development of battery enhanced self-consumption, resulting in a battery of 2GWh in private households in 2030.

Dynamic Supply Risk Management with Signal‐Based Forecast, Multi‐Sourcing, and Discretionary Selling

We examine the critical role of advance supply signals—such as suppliers’ financial health and production viability—in dynamic supply risk management. The firm operates an inventory system with multiple demand classes and multiple suppliers. The sales are discretionary and the suppliers are susceptible to both systematic and operational risks. We develop a hierarchical Markov model that captures the essential features of advance supply signals, and integrate it with procurement and selling decisions. We characterize the optimal procurement and selling policy, and the strategic relationship between signal‐based forecast, multi‐sourcing, and discretionary selling. We show that higher demand heterogeneity may reduce the value of discretionary selling, and that the mean value‐based forecast may outperform the stationary distribution‐based forecast. This work advances our understanding on when and how to use advance supply signals in dynamic risk management. Future supply risk erodes profitability but enhances the marginal value of current inventory. A signal of future supply shortage raises both base stock and demand rationing levels, thereby boosting the current production and tightening the current sales. Signal‐based dynamic forecast effectively guides the firm's procurement and selling decisions. Its value critically depends on supply volatility and scarcity. Ignoring advance supply signals can result in misleading recommendations and severe losses. Signal‐based dynamic supply forecast should be used when: (a) supply uncertainty is substantial, (b) supply‐demand ratio is moderate, (c) forecast precision is high, and (d) supplier heterogeneity is high.

Common threshold in quantile regressions with an application to pricing for reputation

The paper develops a systematic estimation and inference procedure for quantile regression models where there may exist a common threshold effect across different quantile indices. We first propose a sup-Wald test for the existence of a threshold effect, and then study the asymptotic properties of the estimators in a threshold quantile regression model under the shrinking threshold effect framework. We consider several tests for the presence of a common threshold value across different quantile indices and obtain their limiting distributions. We apply our methodology to study the pricing strategy for reputation through the use of a data set from Taobao.com. In our economic model, an online seller maximizes the sum of the profit from current sales and the possible future gain from a targeted higher reputation level. We show that the model can predict a jump in optimal pricing behavior, which is considered as “reputation effect” in this paper. The use of threshold quantile regression model allows us to identify and explore the reputation effect and its heterogeneity in data. We find both reputation effects and common thresholds for a range of quantile indices in seller’s pricing strategy in our application.

Implementation of Sales Executive Dashboard for A Multistore Company in Yogyakarta

Information Technology is a part of strategic part for enterprise strategic planning. Information Technology can help the enterprise to determine its strategic planning. Through data from the past, thecompany can learn something and help to decide some strategic issue. A Multistore Company in Yogyakarta has more than five stores. The problem raises to generate real-time sales reporting. Sales manager and owner do not have access to real-time sales condition. To ease management analyzing and reporting sales condition, dimension model of the sales data needs to be built. This dimension model will help to make executive report from some dimensions mentioned in data warehouse. Sales data will pass through some processes: Extract, Transform, and Load (ETL) in order to prepare the data warehouse. This process is preprocessing data before dimensional model is built. In this research multi-dimensional modelling by taking data from 3 stores ranging from 1 February 2014 to 31 January 2015. By implementing sales executive dashboard, it helps to monitor and analyze sales condition. Dashboard shows graphic which ease user, especially sales manager and owner to learn current and updated sales condition based on dimensions: time, outlet / store, and product. Report gives detail information and multidimensionalhelps to analyze data from different perspective.
 Index Terms—Dashboard, Multi Dimentional Model, ETL, Executive Reporting
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The influence of the trade-off between profitability and future increases in sales on cost stickiness

This study analyses cost stickiness under the dilemma between current profitability and future sales increase. When activity decreases firms are faced to keep profitability adjusting resources, while they should also consider long term consequences and keep slack resources which allow building firms capacities to adapt to external challenges and take advantage of future opportunities. We find empirical evidence that changes in current firm profitability and one year ahead sales increase significantly influence resource adjustment in periods when sales decrease. We find a significant moderating effect of changes in profitability, as well as a significant stressing effect of one year ahead sales increase, on cost stickiness.

Examining user perceptions of smartwatch through dynamic topic modeling

Since the 2010s, various companies have begun to manufacture wearable smartwatch devices, but the current sales of these products are not impressive. This study investigates how the limitations of the smartwatch are related to perceptual discomforts. Theoretically, this study evaluates the claim that the discomfort that users appear to have with the smartwatch stem from failed remediation. Users perceive the smartwatch more as a set of functional sensors rather than a watch or smartphone. Specifically, from the remediation perspective, the authors asked how users perceive the functions of the smartwatch. This study used dynamic topic modeling for topics on the smartwatch on Reddit. This study reports that the smartwatch has failed to provide a proper way to use the remediated content that it provides. Suggestions for future studies are addressed.

The Interplay Between Forward-Looking Measures and Target Setting

We examine whether financial targets are based on both forward-looking and financial information, rather than on financial information only. We collect sales and performance appraisal data of store managers in a retail chain. The firm issues directives focused on the provision of excellent customer service and assesses store managers’ compliance with these directives subjectively. We demonstrate that, controlling for current sales, compliance with directives scores predicts future sales performance. We find that, next to objective sales information, this forward-looking information is impounded in the next year’s sales target. Finally, we find some evidence that suggests that incorporating forward-looking information improves the accuracy of sales targets. This paper was accepted by Mary Barth, accounting.

Impact of generic entry to off-patent branded medicines in Japanese pharmaceutical market

The Japanese pharmaceutical market is known for having a relatively low market penetration of generic medicines. However, the velocity of generic penetration varies among medicines. Looking at current sales and share of off-patent branded medicines and generic medicines in Japanese pharmaceutical market, our main aim is to identify the factors associated with sales reductions of off-patent medicines and price competition caused by generic entry in the Japanese pharmaceutical market. We showed as one result that an increase in the number of generic maker entries significantly increases both price competition and sales reductions of off-patent branded medicines. As a second factor of note, we found that being subject to “NHI Drug Price Premium for Promoting the Creation of New Drugs and the Elimination of Off-label Use” before generic entry is related to maintaining sales of off-patent branded medicines after generic entry. The importance of generic medicines is increasing in association with the hypertrophy of health care expenditures in Japan. Efficient polices and corporate strategies reflecting market principles are strongly needed. Detailed results of this study on what determines whether sales and prices of off-patent medicines significantly decrease after generic entry in the Japanese pharmaceutical market should be useful for this purpose.

New Exporters and Continuing Exporters under Exchange Rate Fluctuations

In this paper we investigate the different behaviors between new and continuing exporters in response to exchange rate shocks. We establish a dynamic model, in which new exporters strategically charge a lower price than continuing exporters in order to increase their current sales and accumulate their consumer base in future periods. The model predicts that new exporters adjust their price more aggressively relative to their continuing counterparts in response to exchange rate fluctuations in order to build future demand stock. Using a transaction-level dataset containing all Chinese exporters over the 2000-2009 period, we find supporting evidence for the model's predictions: new exporters adjust their price 1.5 times more than the continuing exporter. Our findings imply different exchange rate pass-through between new and continuing exporters, and the various ratios of new exporters lead to different degree of exchange rate pass-through across countries at the aggregate level.

Transforming the role of the orthopaedic sales rep in the hospital supply chain

The intent of this paper is to evaluate critical elements in transforming the role of the orthopaedic sales rep and determine the next generation business model for either a ‘Rep-less’ or ‘Rep-Lite’ model by understanding the current role and the functions the rep performs in the operating room. An overview of trends in volume and reimbursement changes impacting the orthopaedic service line will be discussed along with a possible path to a new care model with a clinical support function outlined as a compromise to the current sales rep model. Finally, a proposed framework will be presented that transforms the value analysis and service line functions into a new care management model that integrates resource management into a more robust evidence based practice framework for realising the full value of the cost, quality, outcome movement.

Close, but not too close: Landmarks and their influence on housing values

The college town of State College, PA, USA is home to The Pennsylvania State University (PSU) and its many facilities. Our initial research interest was to understand the influence of the newly developed Arboretum at Penn State (APSU) on nearby housing values in State College over time. Current sales transaction data were gathered and a pooled cross-sectional regression analysis approach utilized. Contrary to the literature, our findings suggest proximity to APSU, as well as three other nearby open spaces, had no significant influence on nearby homes. Further, proximity to PSU’s main campus was negatively associated with housing values. Neither of these patterns varied over time.To further explore these results, the study area was expanded beyond the neighborhoods most proximate to APSU to the balance of the borough. These results replicated our earlier findings, confirming that living close to PSU’s campus is negatively associated with housing values community-wide. These findings disconfirm the common practical assumption that the State College market places a premium on proximity to the town’s major employment center (PSU campus) and a significant local landmark (APSU). Housing markets in similar college towns may not reflect typical residential areas and may require alternative evaluation considerations.