Although previous research has suggested that the level of disclosure is positively related to stock market efficiency, it remains unclear whether an increase in the level of disclosure can facilitate price discovery regardless of the quality of information provided in the disclosure. We examine...

This study examines the determinants of member customers' decision to redeem versus accumulate loyalty program (LP) points by focusing on the effects of the different transaction channels (online versus offline) and the demographic information of member customers. This study finds that...