【正文】 中文 3310 字 畢業(yè) 論文外文翻譯 一、外文原文 標(biāo)題： The dynamics of online wordofmouth and product sales—An empirical investigation of the movie industry 原文： Introduction Wordofmouth (WOM) has been recognized as one of the most influential resources of information transmission since the beginning of human society (Godes and Mayzlin 2021。 Maxham and Netemeyer 2021。 Reynolds and Beatty 1999). However, conventional interpersonal WOM munication is only effective within limited social contact boundaries, and the influence diminishes quickly over time and distance (Bhatnagar and Ghose 2021。 Ellison and Fudenberg 1995). The advances of information technology and the emergence of online social work sites have profoundly changed the way information is transmitted and have transcended the traditional limitations of WOM (Laroche et al. 2021). The otherwise fleeting WOM targeted to one or a few friends has been transformed into enduring messages visible to the entire world. As a result, online WOM plays an increasingly significant role in consumer purchase decisions. Online WOM presents both challenges and opportunities to retailers. On the one hand ,WOM provides an alternative source of information to consumers, thus reducing retailers’ ability to influence these consumers through traditional marketing and advertising channels. Prior studies show that a variety of aspects of WOM influence retail sales. Some found that WOM dispersion (Godes and Mayzlin 2021) and valence (Chevalier and Mayzlin 2021。 Forman, Ghose, andWiesenfeld 2021) have significant effects on product sales, while others found that WOM volume serves as the key driver of product sales (Chen, Wu, and Yoon 2021。 Liu 2021). On the other hand, online WOM provides a new venue for retailers to reach consumers and to strategically influence consumer opinions. Anecdotal evidence has surfaced in recent years suggesting that online WOM could be successfully leveraged as a new marketing tool (Dellarocas2021). A unique aspect of the WOM effect that distinguishes it from more traditional marketing effects is the positive feedback mechanism between WOM and product sales. That is, WOM leads to more product sales, which in turn generate more WOM and then more product sales. The positive feedback mechanism indicates that WOM is not only a driving force in consumer purchase but also an oute of retail sales ( Godes and Mayzlin 2021。 Srinivasan, Anderson, and Ponnavolu 2021). Prior studies on WOM have not fully recognized this unique nature of WOM effect and often treat WOM as exogenous, like traditional marketing effects (Chen et al. 2021。 Liu 2021). Ignoring WOMs dual roles of precursor and oute may misplace causality and lead to erroneous results. The objectives of this study, therefore, are to explicitly model the positive feedback mechanism between WOM and retail sales and identify their dynamic interrelationship. We propose a simultaneous equation system to fully capture the dual nature of online WOM and its dynamic evolution in a panel data setting. We have chosen the movie industry as our research context because industry experts agree that WOM is a critical factor underlying a movie’s staying power, which leads to its ultimate financial success (Elberse and Eliashberg 2021). In addition, the movie industry has by far received the most attention in marketing literature on WOM, which allows indepth parison of