臺灣博碩士論文加值系統

本研究主要探究產品的重大負面事件對公司品牌權益的影響。當產品的重大負面事件發生時，一連串的負面報導與負面口碑也同時因應而起。 因此本研究認為當發生產品的負面報導後，不但會傷害其公司的品牌形象，並且會損壞公司的品牌權益。本研究的實證樣本取自台灣經濟新報上市上櫃公司財報資料庫，以及交通部車輛安全資訊網的車輛瑕疵召回次數，樣本期間取自2003年至2009年。實證結果顯現產品的重大負面事件會影響其公司的品牌權益，但其產品的發生次數必須到達某一數量才能進而影響其公司的品牌權益。現今的科技如此發達，媒體的力量無遠弗屆，此種產品負面事件的爆發不容忽視。因此，本研究建議公司應致力於降低產品重大負面事件的發生，進而提升其公司的品牌權益。

This study investigates the negative impact of critical failure events on firms’ brand equity. Product failures events often result in negative publicity and word-of-mouth, thus damage firms’ brand images. The study posits that these critical failure events will negatively influence a firm’s brand equity. Three listed motor companies in Taiwan Stock Exchange (TSE) together with the Ministry of Transportation and Communication (MOTC) database from 2003 to 2009. The empirical evidences show the critical product failure events negatively impact a firm’s future brand equity. However, the recall counts should be greater than a certain threshold level in order to trigger such an effect on consumers’ perceptions. With today’s internet technology in media industry and online forums, the damage caused by product failure events should not be ignored. Overall, this study demonstrates to managers that investments in reducing product failure events could indeed make financial reaction in terms of promoting firms’ future brand equity.

Abstract i
Acknowledge iii
Table of Contents iv
List of Figures vi
List of Tables vi
Chapter 1 1
Introduction 1
1.1 Research Background and Motivation 1
1.2 Research Aim 3
1.3 Research Process 4
1.4 Research Organization 5
Chapter 2 6
Literature Review 6
2.1 Framework Introduction 6
2.2 Publicity and Word-of-Mouth as Credible Source of Information 6
2.3 The Negativity Effect of WOM and Publicity 7
2.4 The Framing Effect and Prospect Theory on Negative Information 10
2.5 Contextual Priming Effect on Negative Information 13
2.6 The Effect of Source Credibility on Negative Information 14
2.7 The Harmful Impact of Critical Product Failure Events on a Firm’s Brand Equity 17
2.8 Empirical Cases of Critical Product Failure Events 20
2.9 Hypothesis development 22
Chapter 3 24
Methodology 24
3.1 Model specification 24
3.1.1 Input to Time-Series Models 25
3.2 Data Description 27
3.3 Definition of Variable 29
3.3.1 Tobin’s Q 29
3.3.2 Product Failure Events 31
Chapter 4 33
Empirical analysis 33
4. 1 The Effect of Autocorrelation on Tobin’s q - Yulon 34
4.1.1 The Effect of Recall Counts on Yulon’s Tobin’s q 38
4. 2 The Effect of Autocorrelation on Tobin’s q - Hotai 39
4.2.1 The Effect of Recall Counts on Hotai’s Tobin’s q 43
4. 3 The Effect of Autocorrelation on Tobin’s q – China-motor 44
4.3.1 The Effect of Recall Counts on China-motor’s Tobin’s q 48
Chapter 5 49
Conclusion 49
5.1 Research Conclusion 49
5.2 Managerial Implication 50
5.3 Limitation 51
5.4 Future Research 52
References 53
Appendix-Data for Tobin’s q 60

1.Ahluwalia, R., Burnkrant, R. E., and Unnava, H. R. (2000), “Consumer response to negative publicity: The moderating role of commitment.” Journal of Marketing Research, 37(2), pp.203-214.
2.Ahluwalia, R., Burnkrant, R. E., and Unnava, H. R., (2001), “The moderating role of commitment on the spillover effect of marketing communications.” Journal of Marketing Research, 38 (4), pp.458-470
3.Akaike, H., (1973), “Information theory and an extension of the maximum likelihood principle, Second Intermational Symposium of Information Theory” B. N. Petrov and F. Csaski, eds, Akademiai Kaidom Budapest, pp.267-281
4.Arndt, J. (1967), “Role of product-related conversations in the diffusion of a new product” Journal of Marketing Research, Vol. 4, August, pp.291-295.
5.Baker, M. J., and G. A. Churchill, Jr. (1977), “The Impact of Physically Attractive Models on Advertising Evaluations.” Journal of Marketing Research, 14, pp. 538-55.
6.Bazerman, M. H., Magliozzi, T., & Neale, M. A. (1985), “Integrative bargaining in a competitive market. Organizational Behavior and Human Decision Processes” 35, 294–313.
7.Blattberg, Robert C. and John Deighton (1996), “Manage Marketing by the Customer Equity Test” Harvard Business Review, 74 (July/August), pp.136–44.
8.Bromiley, R. A. “Modern financial theory, corporate strategy, and public policy: Three countdowns” Academy of Management Review, 8, 1983, pp.406-415
9.Bond, J., and Kirshenbaun, R. (1988). Under the radar: Talking to today’s cynical consumer. New work: John Wiley and Sons.
10.Box, G.E.P and D.A. Pierce (1970), “Distribution of Residual Autocorrelations in Autoregressive-Integrated Moving Average Time Series Models” Journal of the American Statistical Association, Vol.65, pp.1509-1526.
11.Box, G. E. P and G. M. Jenkins (1976), “Time Series Analysis: Forecasting and Control” Revised Edition, Holden-Day Inc., Oakland.
12.Buttle, F.A. (1998), “Word of mouth: understanding and managing referral marketing” Journal of Strategic Marketing, Vol. 6, pp.241-254.
13.Cameron, G. T. (1994), “Does publicity outperform advertising? An experimental test of the third-party endorsement” Journal of Public Relations Research, 6, pp.185-207.
14.Casewell, J. A. (1992), “Using industrial organization and demand models for agribusiness research” Agribusiness, Vol. 8, No. 2, Nov, pp. 537-48
15.Chevalier, Judith A. and Dina Mayzlin (2006), “The Effect of Word of Mouth on Sales: Online Book Reviews” Journal of Marketing Research, 43, August, pp.345–59
16.Chaiken, S. (1979), “Communicator Physical Attractiveness and Persuasion.”Journal of Personality and Social Psychology, 37, 2, pp.1387-97.
17.Chaiken, S. and D. Maheswaran (1994), “Heuristic Processing Can Bias Systematic Processing: Effects of Source Credibility, Argument Ambiguity, and Task Importanceon Attitude Judgment,” Journal Personality and Social Psychology, 66, pp.460-473.
18.Datta, P.R., Chowdhury, D.N., and Chakraborty, B.R. (2005), “Viral Marketing: New form of Word-of-Mouth through Internet” The Business Review, Summer, 3(2) , pp.69.
19.Dawar, N., M. M, Pillutla, (2000), “Impact of product-harm crises on brand equity: The moderating role of consumer expectations” Journal of Marketing Research, 37, May, pp. 215-22
20.Day, Ralph (1984), “Modeling Choices Among Alternative Responses to Dissatisfaction” Advances in Consumer Research, Vol. 11, pp. 496–99.
21.Dennis, E. E.,&Merrill, J. C. (1996). Media debates: Issues in mass communication. White Plains,NY: Longman.
22.De Alessi, L., & Staaf, R. J. (1994), “What does reputation really assure? The relationship of trademarks to expectations and legal remedies.” Economic Inquiry, 32, 477–485.
23.Dion, K., and W. E. Berscheid. (1972), “What Is Beautiful Is Good.” Journal of Personality and Social Psychology ,24(4), pp.285-90
24.Herr, P. M., Kardes, F. R., & Kim, J. (1991), “Effect of word of mouth and product-attributes information on persuasion: An accessibility-diagnosticity perspective” Journal of Consumer Research, 17(3), pp.454-62.
25.Giffin, K. (1967), “The Contribution of Studies of Source Credibility to a Theory of Interpersonal Trust in the Communication Process.” Psychological Bulletin, 68, pp. 104-19.
26.Greenwald, A. G. (1968), Cognitive learning, cognitive response to persuasion, and attitude change. In A. G. Greenwald, T. C. Brock, and T. M. Ostrom (Eds.), Psychological foundations of attitudes (pp. 147-170). New York: Academic Press.
27.Gupta, Suni, Donald Lehmann, and Jennifer Stuart (2004), “Valuing Customers,” Journal of Marketing Research, 41, February, pp. 7–18.
28.Harmon, R. R., & Coney, K. A. (1982), “The persuasive effects of source credibility in buy and lease situations.” Journal of Marketing Research, 19, pp. 255–260.
29.Higgins, E.T. and G. King (1981), “Accessibility of Social Constructs: Information Processing Consequences of Individual and Contextual Variability, in Personality, Cognition, and Social Inieraction”, N. Cantor and J. Kihlstrom, eds., Hillsdale, NJ: Erlbaum, 69-122.
30.Higgins, E.T. Bargh, J, & Lombardi, W. (1985), “Nature of priming effects on categorization: Learning, Memory, and Cognition.” Journal of Experimental Psychology, 11, pp. 59-69.
31.Hogan, John E., Katherine N. Lemon, and Roland T. Rust (2002), “Customer Equity Management: Charting New Directions for the Future of Marketing”, Journal of Service Research, 5, August, pp. 4–12.
32.Hovland, C. 1., I. L. Janis, and H. H. Kelley (1953), Communication and Persuasion. New Haven, CT: Yale University Press.
33.Jaikumar, R. and Bohn, R., (1992), “A dynamic approach to operations management: an alternative to static optimization” International Journal of Production Economics, 27, pp. 265-282.
34.Jolly, D. W., and Mowen, J. C. (1985), “Product recall communications: The effects of source, media, and social responsibility information.” Advances in Consumer Research, 12(1), pp. 471–475.
35.Kahneman, D., and Tversky, A. (1979), “Prospect theory: An analysis of decision under risk.” Econometrica, 47:2, pp. 263–291.
36.Kahneman, D., and Tversky, A. (1982). “On the study of statistical intuitions.” Cognition, 11, pp. 123–141.
37.Kahneman, D., Tversky, A., and Slovic, P. (1990). “The causes of preference reversal.” The American Economic Review, 80(1), pp. 204-217.
38.Kahle, L. R., and P. M. Homer. (1985), “Physical Attractiveness of the Celebrity Endorser: A Social Adaptation Perspective.” Journal of Consumer Research, 11, pp. 954-61.
39.Keller and David Aaker (1993), “The Effects of Sequential Introduction of Brand Extensions” Journal of Marketing Research, 29, Feb., pp. 35–50.
40.Keller, Kevin (2003), Strategic Brand Management. Upper Saddle River, NJ: Prentice Hall.
41.Keller and Donald R. Lehmann (2003), “How Do Brands Create Value?” Marketing Management, 12 (May/June), pp. 26–31.
42.Khorami, A. F. (1990), “A study of negative information: The impact of time-pressure and the order the negative information is placed in a message on consumer attitudes behavior and decision making on both student and non-student subjects (Doctoral Dissertation, Walden University, 1990).” Dissertation Abstracts International, 51, pp. 417.
43.Klein, J. G. (1996), “Negativity in impressions of professional candidates revisited” Personality and Social Psychology Bulletin, 22, pp. 289-296.
44.Kroloff, G. (1998). “At home and aborad: Weighing in.” Public Relations Journal, 44, pp. 8.
45.Laczniak, R. N., DeCarlo, T. E. and Ramaswami, S. N. (2001), “Consumer Responses to Negative Word-of-Mouth Communication: An Attribution Theory Perspective” Journal of Consumer Psychology, vol. 11, pp.57-73.
46.Levin, Irwin P., Sandra L. Schneider, and Gary J. Gaeth, (1998) “All Frames Are Not Created Equal: A Typology and Critical Analysis of Framing Effects,” Organizational Behavior and Human Decision Processes, (76), pp.149-188
47.Lewis, Michael (2006), “Customer Acquisition Promotions and Customer Asset Value” Journal of Marketing Research, 43 (May), pp. 195–203.
48.Lindenberg, Eric B., and Stephen A. Ross. (1981), “Tobin''s q Ratio and Industrial Organization.” Journal of Business 54(1), pp.32.
49.Loewenstein, G. F., & Prelec, D. (1993), “Preferences for sequences of outcomes” Psychological Review, 100, pp. 91–108.
50.Luo and Christian Homburg (2007), “Neglected Outcomes of Customer Satisfaction” Journal of Marketing, 71 (April), pp. 133–49.
51.Luo, Xueming and C.B. Bhattacharya (2006), “Corporate Social Responsibility, Customer Satisfaction, and Market Value” Journal of Marketing, 70, Oct., pp.1–18.
52.Maddux, J. E., and R. W. Rogers. (1980), “Effects of Source Expertness, Physical Attractiveness and Supporting Arguments on Persuasion: A Case of Brains over Beauty.” Journal of Personality and Social Psychology, 39(2), pp. 235-44.
53.Mahajan, Vijay, Eitan Muller, and Roger Kerin (1984), “Introduction Strategy for New Products with Positive and Negative Word-of-Mouth” Management Science, 30, Dec, pp. 1389–15.
54.Maheswaran, Durairaj and Joan Meyers-Levy (1990), “The influence of Message Framing and Issue Involvement” Journal of Marketing Research, 27(August), pp. 361-67
55.Marc G. Weinberger & Elzieta Lepkowska-White (2000), “The Influence of Negative Information on Purchase Behaviour” Journal of Marketing Management, 16, pp. 465-482.
56.Mizerski, R. W. (1982). “An attribution explanation of the disproportionate influence of unfavorable information.” Journal of Consumer Research, 9, pp.301-310.
57.Neale, M. A., & Bazerman, M. H. (1991), “Cognition and rationality in negotiation.” New York: Free Press.
58.Patzer, Gordon L. (1985), “The Physical Attractiveness Phenomena.” New York, Plenum Press
59.Push, R. F. (1990), “Food safety and the retail industry” International Journal of Retail and Distribution Management, Vol. 18, No. 6, Nov/Dec, pp. 3-7
60.Richard H. Thaler, 1999, “The end of behavioral finance,” Financial Analysts Journal, Novemeber/December, pp. 12-17.
61.Riley, Richard, Timothy Pearson, and Greg Trompeter (2003), “The Value Relevance of Non-Financial Performance Variables and Accounting Information: The Case of the Airline Industry”, Journal of Accounting and Public Policy, 22 (3), pp. 231–54.
62.Rose, Nancy L. (1990), “Profitability and Product Quality: Economic Determinants of Airline Safety Performance”, Journal of Political Economy, 98 (5), pp. 944–64.
63.Roger J. Best (2005), “Market-Based Management”, 4th ed., Upper Saddle River, NJ: Pearson Education, pp.222
64.Rust, Roland, Katherine Lemon, and Valarie A. Zeithaml (2004), “Return on Marketing: Using Customer Equity to Focus Marketing Strategy,” Journal of Marketing, 68 (January), pp.109–124.
65.Schmitt, B. H. (1994), “Contextual priming of visual information in advertisements”, Psychology and Marketing, 11, pp. 1-14
66.Schwartz, N., Kumpf, M. & Bussman, W. (1986), “Resistance to persuasion as a consequence of influence attempts of advertising and non-advertising communications”, Journal of Human Behavior, 23, pp. 72-76.
67.Shafir, E. (1993). “Choosing versus rejecting: Why some options are both better and worse than others.” Memory and Cognition, 21, pp.546–556.
68.Singh, Jagdip (1988), “Consumer Complaint Intentions and Behavior: Definitional and Taxonomical Issues”, Journal of Marketing, 52 (January), pp. 93–107.
69.Skowronski,J. J.,and Carlston,D. E. (1989) . “Negativity and extremity biases in impression formation: A review of the explanations.” Psychological Bulletin, 105(1), pp.131-142
70.Slater D. M., Router D. (1996), “How message evaluation and source attributes may influence credibility assessment and belief change.” Journal and Mass communication Quarterly, 73(4), pp. 974-991
71.Smith, R.E. and Vogt, C.A. (1995), “The Effects of Integrating Advertising and Negative Word-of-Mouth Communications on Message Processing and Response,” Journal of Consumer Psychology, 4(2), pp. 133-151.
72.Srivastava, Rajendra, Tasadduq Shervani, and Liam Fahey (1998), “Market-Based Assets and Shareholder Value: A Framework for Analysis”, Journal of Marketing, 62 (January), pp. 2–18.
73.Sydney Morning Herald (1996). “Kraft Ad campaign to cost more than peanuts.” November 26.
74.Tobin, James. (1969), “A General Equilibrium Approach to Monetary Theory.” Journal of Money, Credit, and Banking, 1, pp. 15-29.
75.Tversky, A., Sattath, S., & Slovic, P. (1988), “Contingent weighting in judgment and choice”, Psychological Review, 95, pp. 371–384.
76.Weinberger, Marc G., Chris T. Allen, and William R. Dillon (1981), “Negative Information: Perspectives and Research Directions”, Advances in Consumer Research, 8, pp. 398-404.
77.Weinberger, M.G., Romeo, J.B. and Piracha, A. (1991) “Negative product safety news: Coverage, responses, and effects.” Business Horizons, May-June, pp. 23-31.
78.Weinberger, M. G., and Lepkowska-White, E. (2000), “The influence of negative information on purchase behavior.” Journal of Marketing Management, 16, pp. 465-482.
79.Wyer, Robert S. and Thomas K. Srull (1981), “Category Accessibility: Some Theoretical and Empirical Issues Concerning the Processing of Social Stimulus Information”, NJ: Erlbaum, pp. 161-197.
80.Yi, Y. (1990), “Cognitive and affective priming effect of the context for print advertisement.” Journal of advertising, 19(2), pp. 40-49