In general, the properties of the conditional distribution of multiple period returns do not follow easily from the one-period data generating process. This renders computation of Value-at-Risk and Expected Shortfall for multiple period returns a non-trivial task. In this paper we consider some...

In this note it is argued that the estimation error in Value-at-Risk predictors gives rise to underestimation of portfolio risk. We propose a simple correction and find in an empirical illustration that it is economically relevant.

In the estimation of risk measures such as Value at Risk and Expected shortfall relatively short estimation windows are typically used rendering the estimation error a possibly non-negligible component. In this paper we build upon previous results for the Value at Risk and discuss how the...

The purpose of this article is to present a multi-items scale on Web retail service quality. After reviewing the literature on this subject, two studies are presented. The first study is a qualitative one with a literature review and a series of depth individuals interviews and focus groups of...

Positive outcomes of loyalty programs are clear for firms, yet little research examines customer perceptions. To address this gap, this article investigates various perceived benefits of loyalty programs using a multi-benefit framework based on utilitarian, hedonic, and relationship literature....

Nowadays retailers manage a portfolio of private label product lines, in order to improve customer satisfaction and to make difference with competitors. An exploratory study, based on a retail store chain customer database, demonstrates that premium private labels and mainstream private labels...

Previous research on loyalty programs is mainly characterized by the use of panel data and measures of repurchase behavior. This is a rather short-term approach that contrasts with the objective of strengthening retailer-customer bonds. In this article, we draw on relationship marketing...

From the 90’s onwards, retailers’ marketing resources have been mainly developed through the recruitment of qualified managers and the establishment of partnerships with service providers and suppliers. However, our research shows that overall marketing competency relies less on the...

Since the mid 90s, the increasing importance of marketing has been observed in the big companies of the retail sector. This evolution is an answer to some changes in the sector competition which prompt the retail companies to become «customer-oriented». Thanks to a documented analysis and some...