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Purpose – Understanding and defining the characteristics of environmentally conscious or concerned consumers has received attention from academic researchers, commercial sector, and policy makers. The purpose of this paper is to identify distinct market segments in three countries (China, Germany, and Turkey) based on several “green” attitude and behavior variables. Design/methodology/approach – A survey was administered in three countries, yielding a total of 1,415 valid survey responses. Findings – Four clusters, ranging from the “greenest” to the “least green” segment, were identified and characterized for each country. Inter- and intra-country similarities and differences are discussed. Existence of cross-national segments was confirmed. Research limitations/implications – There is a potential gap between actual behavior and reported behavior. Practical implications – The segment profiles can be valuable to firms, particularly to those competing in multinational markets. By delineating areas of similarity among international diversity, enterprises can develop effective global marketing strategies. Social implications – Understanding market segments in this respect is critical for policy makers who try to focus their policies that seek to promote green consumption. Originality/value – This is the first study that uses cross-national data for segmenting the market based on “green” criteria, to the authors’ knowledge. Methodologically, the paper uses techniques and instruments that have not been used in this context before.

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractCycles in the behavior of stock markets have been widely documented. There is an increasing body of literature on whether stock markets anticipate business cycles or its turning points. Several recent studies assert that financial integration impacts positively on business cycle comovements of economies.We consider three Western equity markets, represented by their respective stock indices: DJIA (USA), FTSE 100 (UK), and Euro Stoxx 50 (euro area). Connecting these three markets together via vector autoregressive processes in index returns, we construct "propagation values" to measure and trace, on a daily basis, the relative importance of a market as a volatility creator within the network, where volatility is due to a return shock in a market.A cross-wavelet analysis reveals the joint frequency structure of pairs of the propagation value series, in particular whether or not two series tend to move in the same direction at a given frequency. Our main findings are: (i) From 2001 onwards, the daily propagation values of markets have been fluctuating much less than before, and high frequencies have become less pronounced; (ii) the European markets are in phase at business cycle frequency, while the US market is not in phase with either European market; (iii) in 2008, the euro area has taken over the leading role. This approach not only provides new insight into the time-dependent interplay of equity markets, but it can also replicate certain findings of traditional business cycle research, and it has the advantage of using only readily available stock market data.

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