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Industrial selling processes are complex phenomena. The involvement of diverse persons and the prevalence of service elements in integrated sales offerings have meant that collaboration and dialogue are now essential aspects of any successful selling process. The present study is based on the premise that these essential aspects of contemporary industrial selling processes have not been sufficiently conceptualised in the extant literature and that new concepts are therefore required. In particular, relevant new concepts that are based on the personal experiences of the actors involved in the selling process are urgently needed. Grounded-theory methodology was chosen for this inductive study because this approach is especially suitable for the development of empirically based concepts derived from the real-life experiences of involved actors who are addressing their issues of concern. The substantive theory that is subsequently produced by this grounded-theory approach posits a core category of ‘business manoeuvring’ as the basic social process whereby the involved actors resolve their main concern—which is the conduct of effective business. This resolution is achieved within the core category of ‘business manoeuvring’ by the judicious management of mutually dependent and complementary activities, which are reflected in the other categories of the substantive theory—(i) ‘business standardisation’; (ii) ‘business fraternisation’; (iii) ‘personalisation’; and (iv) ‘probationary business rationalisation’. A comparison of the present study’s substantive theory with alternative models in the literature reveals that the broader scope and integration of the proposed substantive theory provides it with greater explanatory power than extant models; however, it is acknowledged that the proposed theory lacks the detailed depth of other models. The successful development of a substantive theory that grasps the main concern of the involved actors and adequately describes its continuous resolution means that this study has achieved its primary purpose of developing empirically based, actor-related concepts that provide an enhanced understanding of the theory and practice of complex selling processes in contemporary industrial markets.

Short selling, and its informational role in the formation of stock prices have been the epicenter of prior literature. Is there a relationship between short selling and abnormal returns? While numerous studies found a negative relationship, researchers do not unanimously agree on the existence, nor the strength, of this relationship. Using net short positions extracted from the registry of the FI for stocks listed in the OMX Stockholm 30 Exchange from January 2017 to December 2020, we examine this relationship exclusively in Sweden. The results have been scrutinized via regression analysis to verify if there is any significant relationship between the announcements of total net short positions and the non-adjusted, as well as the risk-adjusted abnormal returns. We did not find enough evidence to validate previous studies that supported the notion that heavily shorted stocks generate negative abnormal returns for the long buyers. There was a perceptible increase in both risk-adjusted and non-adjusted abnormal returns within a three-day window after the announcement of a short position. Yet, the value was merely zero, inferring that a higher level of short interest does not lead to negative stock returns.

Background: The sales representatives in B2B companies are experiencing several changes in their environment, which have already altered their performed activities. In order to meet the new customer needs, Artificial Intelligence (AI) provides an effective usage of the large amount of complex data that is available, defined as Big Data. AI is developing intelligence that is human-like and is expected to impact occupational roles while threating to automate tasks typically performed by humans. Previous technologies have already impacted sales representatives in the performance of their sales activities; however, it is still uncertain how AI will impact and benefit them. Previous empirical findings and the lack of studies centered on the individual impact of AI confirm the need for more academic reports. Purpose: The aim of this research is to explore how the implementation of Artificial Intelligence and usage of Big Data in Business-to-Business selling processes are impacting sales representatives, in term of performed activities. Further, the aim is also to explore the management of individuals during the implementation of AI. Methodology: This qualitative study is based on a realistic perspective with an inductive research approach. The empirical data has been collected through semi structured interviews with six AI-providers and two consulting firms that have proven experiences in working with AI and sales in B2B companies. Conclusion: AI is characterized by its adapting capability as well as its ability to process and combine a large amount of real-time, online and historical data. As a result, the selling process is constantly provided with more accurate, faster and original insights. Through the analytical capacity of AI, the sales representatives are gaining extensive knowledge about the customer and the external world. Also, AI simplifies the creation and maintenance of long- lasting customer relationships by providing specific and valuable content. Administrative tasks and non-sales activities can also become automated through the usage of AI, which enables sales representatives to focus on their core tasks, for instance relationship building and value-adding activities. The threat of automation and elimination of jobs should be redefined into the possibility to augment human capabilities. By adopting this approach, the importance of the human-machine collaboration is strongly emphasized. In order to increase the willingness for changing working procedures at individual levels, the communication during the process of change should be centered on creating a positive perception and understanding of AI. It is also important to create trust for AI and promote a data-driven culture in order to ensure the systematic usage of the system.

Magistro baigiamajame darbe nagrinėjama individualizuoto asmeninio pardavimo telemarketingo įmonėje, tema. Tiriamą problemą apibūdina klausimas: Ar individualizuotas asmeninis pardavimas turi įtakos pardavimo rezultatams? Šis darbas susideda iš įvado, dviejų pagrindinių dalių, išvadų, asmeninio pardavimo gerinimo rekomendacijų, literatūros sąrašo ir priedų. / Master's thesis analyzes the theme of individualized marketing in Telemarketing Company. The relevant issue describes the question: Can an individualized personal sales influence sales results? This work consists of an introduction, two major parts, conclusions, recommendations for a personal marketing improvement, references and appendices.

In this thesis, I use two strategies of inquiry to further our understanding of indirect short-selling constraints. First, I interview a series of experienced market practitioners to identify their attitudes towards indirect constraints. I find little support for D’Avolio’s (2002) suggestions that short-selling is inhibited by managers’ fear of tracking error and by the cultural pressures of a society that can vilify short-sellers. However, I am able to introduce a new, social, indirect constraint to the literature – the perception that short-selling is a form of ‘trading’ as distinct from ‘investment’, and the consequent lack of acceptance amongst stakeholders that this engenders. This constraint reveals a divide between the attitudes of the academic community and parts of the institutional practitioner community on the subject of short-selling. However, interviewees argue that this indirect constraint is diminishing over time. This raises the prospect of markets in practice converging in behaviour towards the markets assumed in classical asset pricing models, and has implications for market efficiency. My second strategy of inquiry is to use a large, new stock lending database to explore three risk-related indirect constraints to short-selling. I examine ‘crowded exits’, a general class of liquidity problem, and find that these are associated with statistically and economically significant losses for short-sellers. I also examine ‘manipulative short squeezes’, a liquidity problem arising from predatory trading. Consistent with theory and the literature on the subject, I find that these are rare for larger, more liquid stocks. However, when they do occur, these events generate statistically significant losses for short-sellers. Finally, I build upon the work of Gamboa-Cavazos and Savor (2007) and investigate the response of short-sellers to losses. I find that short-sellers close their positions in response to accounting losses and not simply in response to rising share prices. This is consistent with short-sellers’ use of risk management tools that are designed to crystallize small losses. These serve to limit the risk of potentially unlimited losses and to reduce short positions at times of heightened synchronization risk. Stocks subject to shortcovering in this manner do not subsequently under-perform the market. My findings demonstrate that a sophisticated group of traders, strongly associated with price setting, does not suffer from the bias known as loss realization aversion.

Customer retention has been shown by academic researchers to be more profitable than customer acquisition. However, its implementation in the business environment has not been so successful. One of the reasons for this is that customer retention can be achieved in several ways (i.e. loyalty programs, affinity cards and switching costs) and that the translation from the concept of “retaining customers” to the actions and strategies to retain them is not always easy. One of the most attractive strategies to ensure that customers remain within the organisation is through cross-selling and up-selling. In short, the objective is to increase the number (or the value) of the products that a customer buys from a company to make it more difficult for him/her to leave. Whilst academic research has deeply investigated the concepts of loyalty, retention programs and trust, amongst others, cross-selling has not received the same level of attention. Moreover, existing research on cross-selling has been focused on products rather than on services. Finally, this research has mostly been conceptual in nature, with limited attempts to model or design practical cross-selling and up-selling strategies. In order for crossselling and up-selling to be effective retention strategies, they need to be tailored to the needs of the customer. The offer must be adequate in terms of the target (who is going to buy the product), the content (what is going to be purchased) and a time (when is the right moment to offer the new product). This thesis investigates customer retention and cross-selling and up-selling from a practical point of view in the financial services industry. Firstly, it assesses the importance of the concepts of customer retention and cross-selling and up-selling through several interviews conducted with financial services providers (insurance companies, building societies and independent financial industry bodies). Having established the relevance of these concepts in the industry, the next step developed and applied a framework to design cross-selling and up-selling strategies. This framework, named the “Who-What-When” framework, was applied to the transactional and customer data bases of two financial services providers (a Spanish insurance company and a UK building society). The “Who-What-When” method ii begins by segmenting the customer base in order to understand the characteristics and potential of each customer. It then, moves to modelling purchase propensity models, understanding the relationships between products in order to determine what product should be offered to each segment, according to their characteristics and their consumption history. Finally, it analyses the time sequence of the purchases in order to determine the right time (when the purchase is more likely to occur) to approach each customer, bearing in mind how they behave and the maturity of the products already held. The contribution of this thesis is twofold. From an academic point of view, the research demonstrates the importance of customer retention and cross-selling in the financial services industry, being both recognised as key strategic and tactical approaches for the future of the industry. Secondly, from a practical point of view, it contributes by developing an analytical framework to discover and design crossselling and up-selling strategies, aimed at retaining customers. This is achieved through the ‘Who-What-When’ framework which takes into account customer characteristics, consumption patterns and acquisition sequence to model cross-selling activities. Therefore, it refutes the traditional approach that ‘one size fits all’, advocating tailored strategies. Finally, this research highlights, from the empirical analysis, how repurchase decision is highly influenced by the length of the relationship with the provider and the type of products already purchased. Understanding these factors is key to successfully retaining customers via crossselling.

by Chui Wai Chun and Carolina Susana de Assis. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaves 77-79.

This thesis examines the relationship between tax-loss selling (TLS), where investors with taxable gains sell stocks that have declined in value just before the fiscal year-end to generate offsetting tax losses, and managers?? incentives to influence stock prices, either through increased disclosure or by engaging in upwards earnings management. Firms whose stock prices represent greater potential tax losses in investors?? portfolios at year-end are predicted to increase their disclosure level in June to prevent further share price falls due to TLS, and have higher levels of accruals. Using the number of discretionary, market-sensitive news releases in the Signal G announcement database to measure disclosure frequency, this thesis finds that, for a sample of 14,713 firm-year observations drawn from all ASX firms for the years 1994 to 2007, stocks with larger negative returns have higher disclosure in June, after controlling for size, performance, risk and external financing dependence. This is particularly true of small mining and exploration companies that are more reliant on voluntary disclosure as a vehicle for lowering information asymmetry. This increased disclosure does not appear to contribute to the higher July returns earned by stocks that experienced significant TLS in June. Disclosure frequency is negatively associated with the magnitude of operating and total accruals, suggesting that earnings management is less likely for firms with higher disclosure. There is also evidence that smaller firms with poor stock price performance have higher levels of operating accruals and thus may be more likely to engage in earnings management.

<p><strong>Purpose </strong></p><p>To describe the concept of control & coordination mechanisms among HQs-subsidiary-distributor of MNC in direct selling business.</p><p><strong>Method</strong></p><p>Qualitative studies with two company case studies which are selected from direct selling business are implemented in this research. Data are collected from primary sources through semi-structure interview while secondary sources via company’s web sites, annual reports, news, and academic researches. Most collected data are related to control and coordination mechanisms within MNC and especially emphasize on distributor‘s aspects.   <strong></strong></p><p><strong>Conclusion</strong></p><p>To control and coordinate HQs-subsidiary-distributor’s relation in a direct selling business, companies need to implement not only the vertical control over their people but also the lateral way and as well as the price control mechanisms. All these three main mechanisms need to be blended together as the appropriate combination of them will help assist companies to achieve their goals successfully.</p>