This study explores cultural influence on corporate behavior employing the case of merchant guild culture in China and further the moderating role of Marketization. Using hand-collected data on merchant guild culture, we find that merchant guild culture is significantly negatively associated with owner-manager agency costs, suggesting that merchant guild culture in ancient China still has its continuous and remarkable effects on managerial behavior in contemporary corporations. This finding also implies that merchant guild culture motivates managers to upgrade the efficiency (...) of controlling operating costs, reduces agency conflicts between management and shareholders, and eventually mitigates owner-manager agency costs. Moreover, provincial Marketization level attenuates the negative association between merchant guild culture and owner-manager agency costs. Above results are robust to a variety of alternative measures of merchant guild culture and owner-manager agency costs. Furthermore, our findings are still valid after controlling for the potential endogeneity between merchant guild culture and owner-manager agency costs. (shrink)

Social scientists are often interested in understanding how the dynamics of social systems are driven by the behavior of individuals that make up those systems. However, this process is hindered by the difficulty of experimentally studying how individual behavioral tendencies lead to collective social dynamics in large groups of people interacting over time. In this study, we investigate the role of social influence, a process well studied at the individual level, on the puzzling nature of success for cultural products (...) such as books, movies, and music. Using a “multiple‐worlds” experimental design, we are able to isolate the causal effect of an individual‐level mechanism on collective social outcomes. We employ this design in a Web‐based experiment in which 2,930 participants listened to, rated, and downloaded 48 songs by up‐and‐coming bands. Surprisingly, despite relatively large differences in the demographics, behavior, and preferences of participants, the experimental results at both the individual and collective levels were similar to those found in Salganik, Dodds, and Watts (2006). Further, by comparing results from two distinct pools of participants, we are able to gain new insights into the role of individual behavior on collective outcomes. We conclude with a discussion of the strengths and weaknesses of Web‐based experiments to address questions of collective social dynamics. (shrink)

ABSTRACTThis paper explores specific forms that neoliberal discourse and culture in academia today take in the field of Israeli Middle Eastern and Islamic studies. The article applies various textual and contextual interrogation strategies to the language, narratives and the unsaid in interviews with leading scholars in the field, in order to construe what Fredric Jameson calls the ‘political unconscious,’ particularly that arising from the use of market as a conceptual metaphor. Contextualising this field of discourse within neoliberal academia, I deconstruct (...) the work ‘demand’ and ‘interest’ do, and highlight the dialectical dynamics of experts’ dependence on audience. I argue that, in this field, the economic discourse shelters Zionist logics, presuppositions and praxis, such as recruitment logics and fundraising practices that effectively address Jewish and Zionist students and donors. (shrink)

We use content analysis to show that the diagnosis of the financial crisis of 2007–2009 shifted significantly from a focus on the need for structural change in the banking industry to an emphasis on culture and reform at the organizational level. We consider four overlapping subsystems in which this shift in problem–solution clusters played out—political, regulatory, legal, and consulting—and show that the “structural reform agenda,” which was initially strong and publicly prominent in the political arena, lost attention. Over time it (...) was displaced by a neoliberal managerialist turn, which watered down or abandoned structural solutions and instead played up a new “culture and conduct reform agenda.” We explain this shift in terms of the marketization of regulation, which—following Mautner (_Language and the market society_, 1st ed. Routledge, 2010)’s model of interdiscursive alignment—we detect in the shifting language of financial-services reform across the four subsystems in scope. We argue that a neoliberal turn took place with a _discursive closure_ that made the structural reform alternative gradually unsayable and, in the end, unthinkable. At the same time, the discourse turned to embrace the neoliberal agenda, built on the myth of self-regulating actors and markets, manifest in the culture problematic. This managerialist turn was able to mobilise, and be operationalised by, an industry of consultants, whereas structural change came to be seen by regulators as too risky to implement. We claim that these dynamics reveal how a form of “collective strategic ignorance,” based on powerful institutional myths, was systematically oriented to ignore and reject structural sources of crisis. Finally, we suggest that the observed pattern of displacement—whereby initial calls for structural change become later displaced by managerial and procedural solutions—is common to other social issues, such as audit reform and corporate social responsibility. (shrink)

Assisted reproductive technology is a global market engaging a variety of local moral economies where the construction of the demand–supply relationship takes different forms through the operation of the politics of value. This paper analyzes how the market–culture relationship works in different settings, showing how power and resources determine what value will, or will not, accrue from that relationship. A commodity’s potential economic value can only be realized through the operation of the market if its cultural status is seen (...) to be legitimate. At the same time, local moral economies and their associated social orders are potentially susceptible to the destabilizing implications of new commodities. The formal or informal organization of power relationships in the market–culture interaction can enable potential value to become manifest and tangible over time or block its path. The interaction is steered through national institutional sources of cultural authority embedded in state and religion, where the visible contest in the politics of value is conducted. Increasingly, that interaction finds its expression in transnational institutions of governance where the struggle for control of the cultural agenda reflects the global nature of the ART market. (shrink)

Active cultural transmission of fitness-enhancing behavior can be seen as a costly strategy: one for which its evolutionary stability poses a Darwinian puzzle. In this article, we offer a biological market model of cultural transmission that substitutes or complements existing kin selection-based proposals for the evolution of cultural capacities. We demonstrate how a biological market can account for the evolution of teaching when individual learners are the exclusive focus of social learning. We also show how this biological (...) market can affect the dynamics of cumulative culture. The model works best when it is difficult to have access to the observation of the behavior without the help of the actor. However, in contrast to previous non-mathematical hypotheses for the evolution of teaching, we show how teaching evolves, even when innovations are insufficiently opaque and therefore vulnerable to acquisition by emulators via inadvertent transmission. Furthermore, teaching in a biological market is an important precondition for enhancing individual learning abilities. (shrink)

Several recent studies indicate that cheating has become both more prevalent and more socially acceptable. In this article I draw parallels between market values and student attitudes about cheating. They include: (1) reduction of a broad range of goods to their economic value, (2) use of non-reciprocity as a guiding principle, (3) valuing the appearance of virtue over real virtue, and (4) reframing dishonesty in a positive light. I posit two ways that market culture influences the willingness to cheat, and (...) discuss the media's role in transmitting this influence. The article concludes with the suggestion that attempts to curtail cheating by further policing students may only exacerbate the problem in the long run. The same contextual factors that help mitigate undesirable market behavior, when cultivated in the classroom, can help to curb student cheating. (shrink)

Belief in the benevolence of free markets has become a fundamental credo of professional experts, economists, business people and politicians. We regard this discourse as part of a new culture of markets, which has also taken root in Southeast Asia. Expanding markets and using high-tech devices of communication are interpreted as cultural systems that are used in the construction of modernity. An `unbridled romanticism of productivity' (Baudrillard) and a `romance of capitalism' are the meta-narratives underlying the (...) culture of markets. This theme is followed up on two empirical levels. The development policy of three Southeast Asian governments, namely Malaysia, Vietnam and Indonesia, is briefly characterized as market corporatism, market socialism and high-tech developmentalism. We then focus on the emergence of the new middle classes, their actual and symbolic consumption and their lifestyles. Finally the decline of real markets, the creation of virtual markets and the state of postmodernity in Southeast Asia are discussed. We conclude that market fundamentalism and postmodern lifestyles characterize the beginning rather than the end of modernity in Southeast Asia. (shrink)

Advertisers in the Netherlands and Flanders are discovering marketing opportunities to market to specific target groups such as children and adolescents, and their growing numbers in the ethnic minority population. There have been relatively few empirical studies on the portrayal of these audience segments. In light of the first steps in ethnic marketing theory and practice in the Netherlands and Flanders, this study questions how advertising campaigns actually deal with ethnicity and the multicultural market. This issue is tackled by means (...) of a quantitative and comparative content analysis of Dutch, Flemish, American, Turkish, and Chinese television commercials. The first section of this article sketches a theoretical framework for the measurement of cultural values and the representation of ethnic minorities in commercials. On the one hand it draws on previous cross-cultural research examining the individualism/collectivism dimension of culture and on the other hand on advertising research concerned with both content-related, and style characteristics of commercials. In the second section, the methodology is discussed through an examination of the sample and coding instrument. The results section reveals both similarities and differences in the use of values and communication styles in commercials from individualistic as well as collectivistic cultures. Finally, the conclusions of this study are discussed and recommendations for further research are presented. (shrink)

This article examines how distrust drives exchange. We propose a theoretical framework integrating the literature of trust into cultural sociology and use a case of patients giving hongbao (red envelopes containing money) to doctors in China to examine how distrust drives different forms of unofficial exchange. Based on more than two years’ ethnography, we found that hongbao exchanges between Chinese patients and doctors were, ironically, bred by the public’s generalized distrust in doctors’ moral ethics. In the absence of institutional (...) assurance, Chinese patients drew on the cultural logic of particularism and its associated cultural repertoire to induce fidelity from their physicians. They mobilized interpersonal networks to function as assurance and presented hongbao as a return of favor to the doctors. This form of exchange is gifting-oriented. Alternatively, if there were no interpersonal networks to rely on, they proactively offered hongbao to doctors at arm’s length in an attempt to personalize the relationship to seek assurance and abate their anxieties. This form of exchange is bribery-oriented. Both forms of exchange co-existed when there was one-way generalized distrust manifested from patients to doctors. When doctors also developed generalized distrust in patients, arm’s length exchanges declined, leaving embedded exchanges as the dominant form. Our study asserts the central role of culture in constituting exchange behaviors and the importance of institutions in shaping the form of exchange. It contributes to the midrange theory of trust, generating a number of hypotheses for future research on the relationships among culture, institutions, distrust, assurance, and illicit exchange. (shrink)

At a time when the formerly strictly separated roles of citizen and consumer are arguably blurry, and when once powerful social institutions increasingly must yield to new social forces based on heightened knowledgeability and historically unprecedented wealth, it is likely that the economy of modern society is also subject to implicit changes. In this article, we argue that traditional theories of the market are increasingly losing their basis for analysing economic relationships as purely rational acts of exchange and utility maximization. (...) Instead, what can be witnessed is an increase in the influence of values and norms on markets, guiding our attention to how deeply embedded economic action is in modern culture. We put forward the idea of a moralization of markets, which has begun to change our conceptions and theories regarding what is at stake in a modern economy fundamentally. We conclude that in the future, production processes and standards, codes of conduct and consumer reasoning will become all the more important for doing business in Western knowledge societies. (shrink)

To date, the primary focus of research in the field of corporate social responsibility (CSR) has been on the strategic implications of CSR for corporations and less on an evaluation of CSR from a wider political, economic and social perspective. In this paper, we aim to address this gap by critically engaging with marketing campaigns of so-called ‘ethical’ bottled water. We especially focus on a major CSR strategy of a range of different companies that promise to provide drinking water for (...) (what they name as) ‘poor African people’ by way of Western consumers purchasing bottled water. Following Fairclough's approach, we unfold a three-step critical discourse analysis of the marketing campaigns of 10 such ‘ethical’ brands. Our results show that bottled water companies try to influence consumers' tastes through the management of the cultural meaning of bottled water, producing a more ‘ethical’ and ‘socially responsible’ perception of their products/brands. Theoretically, we base our analysis on McCracken's model of the cultural meaning of consumer goods, which, we argue, offers a critical perspective of the recent emergence of CSR and business ethics initiatives. We discuss how these marketing campaigns can be framed as historical struggles associated with neo-liberal ideology and hegemony. Our analysis demonstrates how such CSR strategies are part of a general process of the reproduction of capitalist modes of accumulation and legitimation through the usage of cultural categories. (shrink)

To date, the primary focus of research in the field of corporate social responsibility (CSR) has been on the strategic implications of CSR for corporations and less on an evaluation of CSR from a wider political, economic and social perspective. In this paper, we aim to address this gap by critically engaging with marketing campaigns of so‐called ‘ethical’ bottled water. We especially focus on a major CSR strategy of a range of different companies that promise to provide drinking water for (...) (what they name as) ‘poor African people’ by way of Western consumers purchasing bottled water. Following Fairclough's approach, we unfold a three‐step critical discourse analysis of the marketing campaigns of 10 such ‘ethical’ brands. Our results show that bottled water companies try to influence consumers' tastes through the management of the cultural meaning of bottled water, producing a more ‘ethical’ and ‘socially responsible’ perception of their products/brands. Theoretically, we base our analysis on McCracken's model of the cultural meaning of consumer goods, which, we argue, offers a critical perspective of the recent emergence of CSR and business ethics initiatives. We discuss how these marketing campaigns can be framed as historical struggles associated with neo‐liberal ideology and hegemony. Our analysis demonstrates how such CSR strategies are part of a general process of the reproduction of capitalist modes of accumulation and legitimation through the usage of cultural categories. (shrink)

In this study of an economic field and its relationships to a cultural field, we apply Pierre Bourdieu’s central concepts of economic capital, cultural capital, symbolic capital and field, and thus follow in a tradition that at the outset was considered to be post-structuralism, but which by Bourdieu later has been brought into the realm of realism. We have mapped relationships between the actors and thus the field structures that these relationships entail. The fields in which a segment (...) of an art world is operating is represented in multi-dimensional figures which illustrate relationships and bonds between the different categories of organizations. Some of the business actors we have studied are engaging in cultural activities with a great deal of autonomy, others are connected to the cultural field in less active ways. In participating in the cultural field they are in different ways and to different extents accumulating symbolic capital including prestige and honor. The method we have applied is multiple correspondence analysis which was frequently used by Bourdieu. (shrink)

Advertising is omnipresent and cannot be ignored. The advertisers intertwine the cultural practices prevalent in the country to make a lasting impact on the viewers. The culture of the nation has a...

This study compares Australian marketers with those in the United States along lines that are particular to the study of ethics. The test measured two different moral philosophies, idealism and relativism, and compared perceptions of ethical problems, ethical intentions, and corporate ethical values. According to Hofstede''s cultural typologies, there should be little difference between American and Australian marketers, but the study did find significant differences. Australians tended to be more idealistic and more relativistic than Americans and the other results (...) were mixed, making it difficult to generalize about the effects of moral philosophies on the components of ethical decision-making measured here. This is an important finding; as firms become increasingly more globalized, marketers will more often be involved in cross-cultural ethical dilemmas and it seems natural to assume that similar cultures will have similar ethical orientations. That assumption may well prove erroneous. (shrink)

This research study sought to identify whether there is a relationship between ethical perceptions and culture. An examination of the cultural variables suggests that there is a relationship between two of Hofstede's cultural dimensions (i.e., Uncertainty Avoidance and Individualism) and ethical perceptions. This finding supports the hypothetical linkage between the cultural environment and the perceived ethical problem variables posited in Hunt and Vitell's General Theory of Marketing Ethics (1986).

This study explores the general problems associated with marketing across international markets and focuses specifically on the role of corruption in deterring international marketing success. The authors do this by introducing a broader conceptualization of corruption. The dimensions of corruption and their importance in explaining the exporters’ successes in international markets are developed empirically. Partial Least Squares formative indicators are used in a comprehensive model including consumer resources (wealth and information resources), physical distance (kilometers and time zones), and (...) cultural distance (linguistic and values differences) as alternative explanatory variables. Finally, differences in the model’s performance across data from three exporting countries (France, Japan, and the US) are delineated and discussed. For example, the successes of French and Japanese exporters in international markets are in part determined by the levels of corruption in target countries. Alternatively, corruption in target countries does not appear to affect the successes of American exporters in global markets. The conceptualization of corruption in this study extends the more narrow view of corruption solely as bribery. (shrink)

Culture is the most basic cause of a person’s wants and behavior. Country, like China, who has such a long history, has rich culture background. So it is very critical for international cooperates who want to do business in China to know about Chinese culture and how it works to buyers’ behavior. Starting from Chinese culture in Marketing context, this paper discusses how culture influence buyers’ behavior in Chinese Market.

This study compares the ethical decision-making processes of Turkish, Thai, and American businesspeople, considering perceived moral intensity (PMI), corporate ethical values (CEV), and perceived importance of ethics (PIE). PMI describes the ethical decision making at the individual level, CEV assesses the influences of the organization’s ethical culture on the decisions of the individual, and PIE reveals what the businesspeople believe about the relationships among business, ethics, and long-run profitability. The survey respondents are professional marketers and businesspeople currently enrolled in or (...) graduated from MBA programs in Turkey (n = 416), Thailand (n = 605), and US (n = 446). The ANOVA results reveal that American businesspeople are more likely to perceive the unethical marketing behaviors as more serious than their counterparts in Turkey and Thailand. American and Turkish organizations are found to have higher CEV than Thai organizations. On the other hand, Thai and American businesspeople perceived ethics to be more important for business success than Turkish businesspeople. The understanding of the differences and similarities in ethical perceptions of the businesspeople from various countries is valuable for a successful and harmonious working together when engaging in global marketing activities. This study is thus believed to be useful for people who plan to invest or manage businesses in these countries, and many of the implications are thought to be valuable in international business arena. (shrink)

The Free Market and the Human Condition explores the human condition as situated in the free market from a variety of academic disciplines. By relying upon contributors who approach the topic from their respective disciplines, the book provides an accumulated picture of the free market, the human condition, and the relationship between them.

This research was focused on investigating why some consumers might support cause-related marketing campaigns for reasons other than personal benefit by examining the influence of moral emotions and cultural orientation. The authors investigated the extent to which moral emotions operate differently across a cultural variable (US versus Korea) and an individual difference variable (self-construal). A survey method was utilised. Data were collected from a convenience sample of US ( n = 180) and Korean ( n = 191) undergraduates. (...) Moral emotions significantly influenced purchase intention for a social-cause product. The influence of an ego-focused moral emotion (i.e., pride) on purchase intention was greater for US than Korean participants. The influence of another-focused moral emotion (i.e., guilt) on purchase intention was greater for high-interdependent participants than for low-interdependent participants. The findings of this research provide important and relevant implications to marketers and policy makers in developing persuasive messages and customer relationship programmes. (shrink)

It is reported that medical students both in the U.S. and Poland have experience of interacting with pharmaceutical company representatives (pharma reps) during their school years. Studies have warned that the interaction typically initiated by the pharma reps’ general gift-giving eventually leads to the quid pro quo relationship between the pharma company and the future doctors, the result of which is that the doctors will prescribe their patients drugs in favor of the pharma company. Built upon the existing finding, this (...) research engages in analysis with three foci. The first is to compare attitudinal differences of the American and Polish medical students as they interact with pharma reps. Second, it investigates the role of the different economic and cultural elements (respectively in the U.S. and Poland) in the students’ attitudinal differences. Last, it suggests that the medical schools in both countries should have strict policies and effective education curriculum to help their students better prepare to interact ethically with pharma reps. Since there has been no direct comparative cultural analysis of this kind which is known in a published literature or report, the authors believe that the paper will serve as a catalyst for further research in the area. (shrink)

This study compares Australian marketers with those in the United States along lines that are particular to the study of ethics. The test measured two different moral philosophies, idealism and relativism, and compared perceptions of ethical problems, ethical intentions, and corporate ethical values. According to Hofstede's cultural typologies, there should be little difference between American and Australian marketers, but the study did find significant differences. Australians tended to be more idealistic and more relativistic than Americans and the other results (...) were mixed, making it difficult to generalize about the effects of moral philosophies on the components of ethical decision-making measured here. This is an important finding; as firms become increasingly more globalized, marketers will more often be involved in cross-cultural ethical dilemmas and it seems natural to assume that similar cultures will have similar ethical orientations. That assumption may well prove erroneous. (shrink)

The amount of personal data now collected through contemporary marketing practices is indicative of the shifting landscape of contemporary capitalism. Loyalty programs can be seen as one exemplar of this, using the ‘add-ons’ of ‘points’ and ‘miles’ to entice consumers into divulging a range of personal information. These consumers are subject to surveillance practices that have digitally identified them as significant in the eyes of a corporation, yet they are also part of a feedback loop subject to ongoing analysis. This (...) paper focuses on this analysis as the ‘cultural circuit’ of loyalty programs—the ongoing process of meaning-making in this form of contemporary marketing—as exemplary of what Nigel Thrift calls “soft capitalism”( 1997, 2005 ). Loyalty programs engage consumers in an ongoing ‘relationship’ with a corporation, yet it is one predicated on the collection and analysis of personal data in order to identify, maintain and increase profits from these consumer ‘relationships.’ This paper looks at ways of knowing, application and revision in the cultural circuit of loyalty program marketing as a form of reflexive marketing and raises concerns about consumer subjectivity in the context consumer culture that mediates much of contemporary experience. These technologies and practices continually adapt and adjust to strategically act toward consumers as a form of consumer surveillance based on an increasingly intensive and nuanced knowledge of their behaviours. (shrink)

On one hand, Chinese consumers are well known for conspicuous consumption and the adoption of luxury products and named brands. On the other hand, they also have a bad reputation for buying counterfeit products. Their simultaneous preferences for two contrasting types of product present a paradox that has not been addressed in the literature. This study attempts to present an explanation of this paradox by examining the effects of traditional Chinese cultural values and consumer values on consumers’ deontological judgment (...) of pirated CDs and the amount of social benefits they perceive they gain from them. We interviewed 300 Hong Kong Chinese consumers, and found that face consciousness increased materialism and risk aversion, thereby producing a favorable deontological judgment of pirated CDs. Face consciousness also has a direct effect on the amount of social benefits perceived in pirated CDs. Both favorable deontological judgment and perceived social benefits contributed to a strong intention to buy pirated CDs. The results are discussed in a cultural perspective. (shrink)

As more and more firms operate globally, an understanding of the effects of cultural differences on ethical decision making becomes increasingly important for avoiding potential business pitfalls and for designing effective international marketing management programs. Although several articles have addressed this area in general, differences along specific, cultural dimensions have not been directly examined. Hence, the purpose of this study was to examine differences in ethical decision making within Hofstede's cultural framework. The results confirm the utility of (...) Hofstede's cultural dimensions and place ethical decision making within an overall theoretical framework. Sales agents from a high power distance, uncertainty avoidant, Confucian, collectivist culture (i.e., Taiwan) placed more value on company and fellow employee interests (vis-à-vis self interests) than did managers from a masculine, individualistic culture (i.e., the United States). American and Taiwanese managers did not differ in their deontological norms or on the importance that they placed on customer interests. The theoretical and managerial importance of these findings are also discussed. (shrink)

ArgumentIt seems theoretically convenient to construe knowledge practices in financial markets and organizations as “applied economics.” Alternatively or additionally, one might argue that practitioners draw on economic knowledge in order to systematically orient their actions towards profit-maximization; models, then, are understood as devices that make calculative rationality possible. However, empirical studies do not entirely confirm these theoretical positions: Practitioners’ actual calculations are often not “framed” by models; organizations and institutions influence the choice and adoption of models; and different professional (...) groups in financial markets have diverging attitudes towards model calculations. In order to account for this diversity, this article proposes the concept ofcultures of economic and financial expertise; the concept focuses on the patterns of knowledge practices and knowledge-related self-definitions of groups within financial organizations and markets; it also facilitates an analysis of the relations between and, more specifically, the hierarchies among different practices and identities. The article then goes on to explore the process of foreign exchange forecasting in a particular bank. The description immediately reveals that two groups are involved in this process: economists and analysts. These groups maintain quite different practices and self-descriptions in relation to models: While the economists in the bank use the models as organizational resources for consistent forecasting procedures and observe data with the help of simple model structures, analysts approach model forecasts from the perspective of critics: They see limits in the variable-centered, as opposed to a “thematic” approach and they disregard a model's imposed temporality. Nevertheless, analysts use model forecasts as anchors for developing their own “paths” and stories about possible future expectation changes in the markets. The specific division of labor between economists and analysts, and specifically the dominant role of analysts in the forecasting process, fit into a larger picture: The rise of institutional investors in the foreign exchange markets and their demand for genuine market knowledge for speculative investment projects has contributed to the rise and dominance of analysts’ culture. (shrink)

The essay examines the conditions that gave rise to undesirable trends in Russian economic transformation leading to creation of a market that the author refers to as a “wild” market opposing it to the form of market economy inherent in the West. Discussing specific archetypes of Russian mass consciousness and Russian system of fundamental values, the author emphasizes the importance of balancing the specific steps of contemporary economic reforms in the country against unique features of Russian mentality and cultural (...) traditions. (shrink)

This study examines the interaction effects of Machiavellianism and organizational ethical culture on two components of a marketer''s ethical decision — perceptions of an ethical problem and perceptions of remedial alternatives. The results suggest that certain aspects of ethical perceptions are related to the interaction between Machiavellianism and organizational ethical culture.

Today's young marketers transition from schools and into the workforce with a variety of career options in sales, advertising, and general marketing after graduation. Beyond their discipline-specific knowledge of market research, consumer behavior, and marketing communications, these individuals bring along their own set of personal values and ideologies that may influence how they engage the people, personalities, and priorities of the business organization. As new generations of young professionals enter the publicly scrutinized fields of sales and marketing, they are expected (...) to make morally grounded decisions that may be informed by these values and ideologies. This study frames this state of affairs by examining the inquiry "Who Shall Lead Us?" whereby young marketers evaluate the fitness of a leadership climate in which they would potentially work. Here, individual cultural values and ethical ideologies are posited to influence evaluations of transformational leadership. (shrink)

The authors investigate the differences in ethical perceptions of Australian and Hong Kong international managers. Ethical perceptions are measured with respect to different industry types, cultures and modes of entry into international markets. Mode of entry refers to how firms select to enter foreign markets. Modes of entry include: exporting (indirect or direct), contractual methods (licensing and franchising) and via direct foreign investment (joint ventures and wholly-owned subsidiaries). It was determined that culture and mode of entry have a (...) significant effect on the perception of ethical problems. (shrink)

The market failures approach is amongst the most influential theories of business ethics. Its interest within the field is, in large part, a result of its rejection of moralism and any sort of applied ethics approach, favouring, in contrast, a focus on the institutionally embodied goal of economic activity, which it takes to be that of Pareto efficiency. From this articulation of the goal, or purpose, of markets, a set of efficiency imperatives are derived that are taken to comprise (...) the implicit morality of the market. However, the market failures approach has not adequately explained the basis of market actors’ moral motivation, that is, the reasons individuals have to self-consciously adhere to moral norms governing market transactions. This failure, I argue, stems from its misspecification of the purpose of the market. After explaining this failure to address the problem of moral motivation, I argue that a distinctive mode of freedom understood as a form of self-authorship is better seen as the purpose of the market, a goal that actually animates individual market participants. I then argue that this notion of freedom is intrinsically linked to a conception of responsibility and that this notion of responsibility can be more adequately conceptualized as involving a set of market virtues focused on promoting mutually beneficial transactions. Thus, the link between freedom and responsibility, stemming from an individual’s need to legitimize their freedom in a market context, provides the basis for a self-conscious sense of moral motivation. As such, this approach better captures the implicit morality of the market while also addressing the problem of moral motivation. (shrink)

Hayek’s social theory of evolution suggests that market liberal morality is adaptive for social groups. He justified the evolutionary superiority of market liberalism by asserting that groups operating under a market liberal morality would have a higher capacity to expand and reproduce than groups with alternative tribal moralities. Thus, market liberal groups would be favoured through cultural and genetic group selection. But in fact, market liberal morality reveals maladaptive tendencies and remains insufficiently powerful to create adaptive social groups. Hayek’s (...) dismissal of moral tribalism in favour of market liberal morality is found to underestimate the importance of tribal goals in the evolutionary system. (shrink)

The marketisation of heritage has been a major topic of interest among heritage specialists studying how the online marketplace shapes sales. Missing from that debate is a large-scale analysis seeking to understand market trends on popular selling platforms such as eBay. Sites such as eBay can inform what heritage items are of interest to the wider public, and thus what is potentially of greater cultural value, while also demonstrating monetary value trends. To better understand the sale of heritage on (...) eBay’s international site, this work applies named entity recognition using conditional random fields, a method within natural language processing, and word dictionaries that inform on market trends. The methods demonstrate how Western markets, particularly the US and UK, have dominated sales for different cultures. Roman, Egyptian, Viking and Near East objects are sold the most. Surprisingly, Cyprus and Egypt, two countries with relatively strict prohibition against the sale of heritage items, make the top 10 selling countries on eBay. Objects such as jewellery, statues and figurines, and religious items sell in relatively greater numbers, while masks and vessels sell at generally higher prices. Metal, stone and terracotta are commonly sold materials. More rare materials, such as those made of ivory, papyrus or wood, have relatively higher prices. Few sellers dominate the market, where in some months 40% of sales are controlled by the top 10 sellers. The tool used for the study is freely provided, demonstrating benefits in an automated approach to understanding sale trends. (shrink)

Adam Smith is the best known among economists for his book, The Wealth of Nations, often viewed as the keystone of modern economic thought. For many he has become associated with a quasi-libertarian laissez-faire philosophy. Others, often heterodox economists and social philosophers, on the contrary, focus on Smith's Theory of Moral Sentiments, and explore his moral theory. There has been a long debate about the relationship or lack thereof between these, his two great works. This work treats these dimensions of (...) Smith's work as elements in a seamless moral philosophical vision, demonstrating the integrated nature of these works and Smith's other writings. This book weaves Smith into a constructive critique of modern economic analysis and builds bridges between that discourse and the other social sciences. (shrink)