In contrast to the conventional fund management industry with a profit-oriented logic based on risk and return, ethical and faith-based funds should follow the religious principles of their investment-style philosophy. Islamic funds should obey the theological teachings of the primary sources of Islam, the Quran and Sunnah, as stakeholders expect these religious teachings to influence the investment decisions of fund managers. In practice, Islamic fund managers use Accounting and Auditing Organization for Islamic Financial Institutions ’s screening criteria, based on secondary (...) sources of Islam, which allow investments that are only partially halal to be included in their portfolios. This study finds that a more religious logic in screening practices, although impairing diversification, does not necessarily harm performance. Thus, Islamic investment funds, and the wider ethical fund management industry, should, and could, adopt stricter screening criteria that match their investment mandates and bring more ethical business practices to the industry. (shrink)

Two Community Development Corporations in Oakland, California, anchor the following analysis. These legally homogenous organizations have implemented similar “low-income” redevelopment projects widely hailed as representing a single successful blueprint for urban revitalization. Despite their similarities, however, these entities have produced starkly different socio-economic outcomes—a phenomenon traced to the CDCs' divergent internal structures and the contrasting external contexts of their development activities. These variations generated competing “logics” of redevelopment. On one hand, we find a CDC dominated by market-oriented (...) interests and the economic logic of exchange-values, while on the other, we find a CDC dominated by community-oriented interests and the social logic of neighborhood use-values. (shrink)

The link between Corporate Social Responsibility (CSR) and financial performance has continued to generate mixed and inconclusive results. Most studies in this area seem to assume that corporate social and financial performance share the same underpinning logic. Drawing from a qualitative analysis of practitioners' accounts of the challenges of mainstreaming the market for responsible investments, as part of the broader CSR agenda, this article re-examines this taken-for-granted assumption in the extant literature, and reaches the conclusion that CSR, as a (...) complex private governance of externalities, does not easily lend itself to measurability and profitability. In other words, not everything about CSR is measurable and profitable as much as the financial markets would expect. Comparing what is rendered measurable and profitable, on one hand, and what is yet to fully lend itself to measurability and profitability, on the other, is identified as one of the fundamental flaws of this literature. As such, CSR and financial performance will continue to run on competing logics until their different markets are distinctively articulated and/or aligned. (shrink)

If a news organization serves the market well, does it also serve the public well? Yes, say the leaders of the news industry, market forces improve journalism. This article uses market theory microeconomics to test the executives' assertion. The analysis concludes that news is a peculiar commodity, what economists call a "credence" good, that may invite fraud because consumers cannot readily determine its quality, even after consuming it. News, by definition, is what we don't yet know. The (...) article also contends that advertisers seek public attention for their products rather than public education about current events. Thus advertiser-supported news media following market logic compete not in a news market, but in a larger market for public attention. This attention market may value entertainment more than information, leading to a conflict with journalism's norms of public service. (shrink)

In this review, the relative strengths and weaknesses of four recent logic books are presented. This review is organized thematically, where each text is examined under the following metrics: aesthetic qualities, organization, accessibility, problems and exercises, student resources, instructor resources, and price. Instead of examining each textbook one at a time, a comparison by category showcases each book's prominent features and themes within that category. Attention is also given in this review to the needs of logic students at the junior (...) college level, whose diverse backgrounds increasingly factor into textbook decisions. Selecting a logic textbook can seem especially daunting given the abundance of choices on the market. Instructors are increasingly forced to select a textbook with numerous, and even competing, considerations in mind. This review intends to make the often difficult process of selecting between new textbooks on the market a little bit easier. (shrink)

Futurists have imagined the Internet as a separate “cyberspace” and as a force for an idealized marketplace. Business practice and economic theory, however, lead to a different picture. (1) “Always-on” connections bring new interface problems and social skills. (2) Reduced transaction costs and increased economies of scale bring outsourcing, concentration, and globalized economy of focused monopolies. (3) The economies of scope inherent in modular computing systems bring “shallow diversity”: processes and products generated by a common underlying framework. This new picture (...) omits many countervailing factors. Even so, the very existence of alternative scenarios should sharpen questions for research. (shrink)

This study examines retail investors’ trading behaviour and its determinants in the Indonesian _Shari’ah_ stock market by mainly focusing on the religious practice-related factors in the form of _sadaqah_ or charitable giving on individual investors’ trading behaviour. Contextually, the Islamic moral economy (IME) assumes a direct relationship between religiosity and _sadaqah_ giving due to the _falah_ (salvation) oriented individual objective function, which can be reached through doing _ihsan_ (beneficence for equilibrium). The findings based on a questionnaire survey distributed to (...) individual investors on _Shari’ah_ Online Trading System (SOTS) delineate that religiosity, accounting information, neutral information, personal financial needs, and the _sadaqah_ feature have significantly affected investors’ trading behaviour in which the _sadaqah_ feature is positively correlated, while religiosity factors are negatively correlated. Thus, despite the theoretical expectation through IME, this study evidences that Islamic logic is not the main determining factor, as market logic related factors seem to be more dominant in the behaviour of investors in the Indonesian capital market. (shrink)

Why do women sellers in product markets receive lower prices than men sellers when selling the same identical products? This Article investigates the effects of cultural beliefs about competence, desert and trust on market interactions with women and men sellers. We use an experimental approach to show that the prices people are willing to pay for the exact same product are affected by cultural beliefs about gender; when a woman sells a gift card, she is likely to receive five (...) percent less for it, compared to when a man does. Our analysis further suggests that it is beliefs about women’s relative competence and moral entitlement that drive the gender price gap in product markets. When the participants in the experiment were presented with information that suggested that the woman seller was a competent or entitled seller, no gender price differences were found between such women sellers and their equally qualified male counterparts. Nonetheless, information about the trustworthiness of sellers did not decrease the gap between women and men sellers. This suggests that price gaps between women and men in product markets are not generated by beliefs about the trustworthiness of women and men. (shrink)

ABSTRACT:It is frequently asserted that religion enhances the ethical climate of business. This is buttressed by the tacit assumption that religious moral authority is easily combined with and exerted in business, an inter-institutional process I call Engagement. By drawing upon Secularization Theory’s societal-level focus on religious authority and the symbolic boundary work surrounding the interface of competing institutional logics, I theorize a broader range of inter-institutional processes including, Disengagement, Co-optation and Adjudication. To exemplify these inter-institutional processes, I engage (...) in qualitative analysis of historic religious magazines from 1927-1931 and 1985-1989 and focus on the religious moral authority directed at the financial market. I discuss how my findings relate to the scholarship on Religion and Business in particular and Business Ethics more broadly. (shrink)

Heath and Tversky (1991, Journal of Risk and Uncertainty 4:5–28) posed that reaction to ambiguity is driven by perceived competence. Competence effects may be inconsistent with ambiguity aversion if betting on own judgement is preferred to betting on a chance event, because judgemental probabilities are more ambiguous than chance events. This laboratory experiment analyses whether ambiguity affects prices and volumes in a double auction market, and contrasts ambiguity aversion to competence effects. In order to test for the presence of (...) competence effects, in the experiment uncertainty is tied to the realisation of events about which the decision maker is more or less knowledgeable. Two experiments are presented: in the first, knowledge is exogenous, whereas in the second the knowledge judgement is endogenous. Market prices provide evidence in favour of the competence hypothesis only when competence is self-assessed. Comparable volumes are observed in both experiments. (shrink)

We propose a new formalization of legal competences, and in particular for the Hohfeldian categories of power and immunity, through a deontic reinterpretation of dynamic epistemic logic. We argue that this logic explicitly captures the norm-changing character of legal competences while providing a sophisticated reduction of the latter to static normative positions. The logic is completely axiomatizable, and we apply it to a concrete case in German contract law to illustrate that it can capture the distinction between legal ability and (...) legal permissibility. (shrink)

ABSTRACT“Post-truth” politics is often framed as a failure of the competition of idea­s. Yet there are different ways of thinking about the competition of ideas, with different implications for the way we understand its benefits and risks. The dominant way of framing the competition of ideas is in terms of a marketplace, which, however, obscures the different ways ideas can compete. Several theorists can help us think through the competition of ideas. J. S. Mill, for example, avoided the metaphor of (...) the market by focusing, instead, on competition as the testing of arguments in adversarial encounters before a critical audience. Georg Simmel, alternatively, conceived of competition as a form of indirect conflict, where two individuals strive in parallel to gain audience approval. This view emphasizes innovation and creativity in the competition of “all for all.” More recently, theorists have developed the market logic of competition by thinking of a marketplace not for ideas but for rationalizations. This articulates some of the features of Simmel’s view of competition, but underestimates the degrees of constraint required to secure the goods of competition. Ultimately, recognizing these different modes of competition in the public sphere can enrich our theories of deliberative democracy and sharpen our view of the problem of “post-truth” politics. (shrink)

Previous research has shown positive relationships between fitness level and different cognitive abilities and academic performance. The purpose of this study was to explore the relationships between logical–mathematical intelligence and mathematical competence with physical fitness in a group of pre-adolescents. Sixty-three children from Castro del Río, aged between 11 and 12 years, participated in this research. The Superior Logical Intelligence Test and the EVAMAT 1.0–5 battery were used. Physical fitness was evaluated by the horizontal jump test, the 4×10 meter speed–agility (...) test, and the Course Navette test. The analyses showed positive relationships between physical fitness with logical–mathematical intelligence and mathematical competence. Specifically, linear regression analyzes indicated that the 4×10 speed–agility test significantly predicted mathematical competence and the horizontal jump test significantly predicted logical–mathematical intelligence. These results are in agreement with previous research, highlighting the importance of improving physical fitness from an early age due to its benefits for intellectual and academic development. (shrink)

Among the topics to whose discussion Diego Marconi has contributed outstandingly over the years, two of the most notable are the nature of lexical competence and the status of the law of non-contradiction. The topics are linked by the popular idea that adherence to basic logical laws is a necessary condition of understanding logical words, in particular that adherence to the law of non-contradiction is a necessary condition of understanding words for negation. For example, it may be proposed...

Food systems transformations require coherent policies and improved understandings of the drivers and institutional dynamics that shape (un)sustainable food systems outcomes. In this paper, we introduce the Chilean National Organic Agriculture Law as a case of a policy process seeking to institutionalize a recognized pathway towards more sustainable food systems. Drawing from institutional theory we make visible multiple, and at times competing, logics (i.e., values, assumptions and practices) of different actors implicated in organic agriculture in Chile. More specifically, (...) our findings identify five main institutional transformative logics underpinning the interests and actions of organic actors. However, we find that the Law was not motivated by these logics and did not advance them. Rather, the Law was designed to support a market niche targeted to elite consumers and to reinforce agricultural exports. As a result, the Law constrains rather than enables the practice of organic agriculture and access to organic food by consumers, especially at the domestic level. We note that attention to institutional logics in the analysis of food systems, and specifically food system transformation, is relevant to more comprehensive assessments of the transformational potential of food systems policies. We conclude that there is a need to further consider and make visible the way in which different drivers (i.e., laws) are constituted through and by diverse, and often competing, institutional logics. (shrink)

Neo-liberalism is not working but carries on regardless. A society and all of its institutions modelled on market logics and imperatives has produced system crisis and has lost widespread popular support. To account for neo-liberalism’s continuing grip, we must submit this project to ideology critique. Max Horkheimer offers some relevant insights into what this requires. Ideology critique needs to come up with a competing measure of progress, it has to demonstrate why this ought to be the standard (...) and it needs to expose the means by which this alternative is blocked. This article suggests that the normativity that underpins a social democratic project is best placed to prosecute these key tasks in a neo-liberal and historicizing age. It draws upon two major accounts of the ideological battlefield that has been staked out between neo-liberal and social democratic projects, looking to Wolfgang Streeck and Michel Foucault to identify the cultural resources that are available to, and the blocking strategies that have to be negotiated by, ideology critique in neo-liberal times. Finally it, turns to György Markus’s fine-grained and critical reading of the tasks of ideology critique outlined by Karl Marx. This section puts ideology critique into dialogue with a social democratic normativity in order to better consider the traction of ideology critique in a neo-liberal age. (shrink)

Companies committed to corporate social responsibility should ensure that their managers possess the appropriate competencies to effectively manage the CSR adaptation process. The literature provides insights into the individual competencies these managers need but fails to prioritize them and adequately contextualize them in a manner that makes them meaningful in practice. In this study, we contextualized the competencies within the different job roles CSR managers have in the CSR adaptation process. We interviewed 28 CSR managers, followed by a survey to (...) explore the relative importance of the competencies within each job role. Based on our analysis, we identified six distinct managerial roles, including strategic, coordinating, and stimulating roles. Next, we identified per role key individual CSR-related competencies as prioritized by the respondents. Our results show that the context, as indicated in this study by CSR managers’ job roles, indeed influenced the importance of particular CSR-related competencies, because each role seems to require a different combination and prioritization of these competencies. Moreover, the results suggest that the relative importance of these competencies within each role may be driven by business logic rather than an idealistic logic. The results are presented as a competence profile which can serve as a reflection tool and as a frame of reference to further develop the competence profile for CSR managers. (shrink)

In Multi Agent Systems it is often the case that individual preferences are not compatible and coalitions compete to achieve a given result. The paper presents a language to talk about the conflict between coalitional choices and it expresses deontic notions to evaluate them. We will be specifically concerned with cases where the collective perspective is at odds with the individual perspective.

Abela and Murphy (J Acad Mark Sci 36(1):39–53, 2007 ) examined Service-Dominant (S-D) logic (Vargo and Lusch, J Mark 68(1):1–17, 2004 ) from the viewpoint of Marketing Ethics and concluded that whilst S-D logic does not have explicit ethical content, the Foundational Premises (FPs) of S-D logic do have implicit ethical content. They also conclude that what may be needed to make the implicit more explicit is the addition of another FP. The aim of this article is to explore whether (...) S-D logic needs to be modified, if one wishes to construct a theoretical framework for analysis of Marketing that has ethical considerations fully integrated. We critically evaluate the claim that the FPs are inherently ethical and conclude that S-D logic should be modified. We offer an additional FP for consideration that relates to the role of personal and societal values in the co-creation of value. This FP is necessary because of the role that the ethical positions of actors play in exchange behaviour. However, it should be pointed out that whilst the article explores the ethical potential of S-D logic it does not privilege any particular ethical position or code. These concerns will be addressed in subsequent articles: the aim here is to establish the underlying rationale for including an explicit commitment to ethics in S-D logic. (shrink)

Heath and Tversky (1991, Journal of Risk and Uncertainty 4:5–28) posed that reaction to ambiguity is driven by perceived competence. Competence effects may be inconsistent with ambiguity aversion if betting on own judgement is preferred to betting on a chance event, because judgemental probabilities are more ambiguous than chance events. This laboratory experiment analyses whether ambiguity affects prices and volumes in a double auction market, and contrasts ambiguity aversion to competence effects. In order to test for the presence of (...) competence effects, in the experiment uncertainty is tied to the realisation of events about which the decision maker is more or less knowledgeable. Two experiments are presented: in the first, knowledge is exogenous, whereas in the second the knowledge judgement is endogenous. Market prices provide evidence in favour of the competence hypothesis only when competence is self-assessed. Comparable volumes are observed in both experiments. (shrink)

Companies committed to corporate social responsibility (CSR) should ensure that their managers possess the appropriate competencies to effectively manage the CSR adaptation process. The literature provides insights into the individual competencies these managers need but fails to prioritize them and adequately contextualize them in a manner that makes them meaningful in practice. In this study, we contextualized the competencies within the different job roles CSR managers have in the CSR adaptation process. We interviewed 28 CSR managers, followed by a survey (...) to explore the relative importance of the competencies within each job role. Based on our analysis, we identified six distinct managerial roles, including strategic, coordinating, and stimulating roles. Next, we identified per role key individual CSR-related competencies as prioritized by the respondents. Our results show that the context, as indicated in this study by CSR managers’ job roles, indeed influenced the importance of particular CSR-related competencies, because each role seems to require a different combination and prioritization of these competencies. Moreover, the results suggest that the relative importance of these competencies within each role may be driven by business logic rather than an idealistic logic. The results are presented as a competence profile which can serve as a reflection tool and as a frame of reference to further develop the competence profile for CSR managers. (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)

Ethical debates about assisted dying typically assume that only medical professionals should be able to provide patients with assisted dying. This assumption partially rests on the unstated principle that assisted dying providers may not be motivated by pecuniary considerations. Here I outline and defend a mixed provider model of assisted dying provision that contests this principle. Under this model, medically competent non-physician professionals could receive fees for providing assisted dying under the same terms and conditions as physicians can in those (...) juris- dictions where medically assisted dying is lawful. The mixed provider model blunts objections to assisted dying rooted in supposed clashes with medical values. In addition to generating a market likely to expand access to assisted dying, the mixed provider model would not create markets that are unjust because they are “noxious” in Satz’ sense or because they raise “semiotic” concerns about the value of human life. (shrink)

Organizational institutionalism has shown how institutional entrepreneurs can introduce new logics into fields and push for their broader acceptance. In academic science in the United States, however, market logic gained strength without such an entrepreneurial project. This article proposes an alternative “practice selection” model to explain how a new institutional logic can gain strength when local innovations interact with changes outside the field. Actors within a field are always experimenting with practices grounded in a variety of logics. (...) When one logic is dominant, innovations based on alternative logics may have trouble gaining the resources they need to become more broadly institutionalized. But if a changing environment starts systematically to favor practices based on an alternative logic, that logic can become stronger even in the absence of a coherent project to promote it. This is what happened in US academic science, as growing political concern with the economic impact of innovation changed the field’s environment in ways that encouraged the spread of local market-logic practices. (shrink)

The purpose of cause-related marketing is to capitalise on a firm’s social engagement initiatives to achieve a positive return on a firm’s social investment. This article discusses two strategic perspectives of cause-related marketing and their impact on a firm’s decision-making regarding campaign development. The instrumental dominant logic of cause-related marketing focuses on attracting customers’ attention in order to generate sales. The relational dominant logic of cause-related marketing focuses on building relationships with the target stakeholders through the enhancement of a firm’s (...) legitimacy. The combination of these two types of logic gives rise to four types of cause-related marketing: altruistic, commercial, social and integrative. This paper uses the qualitative method to explore a firm’s marketing decision choices regarding campaign-related decision dimensions—campaign duration, geographical scope, cause selection, and implementation strategy—for each type of cause-related marketing. The finding provides theoretical, managerial and public policy implications. (shrink)

An increasing body of institutional research has examined organizations’ response to conflicting institutional logics, but few studies have looked into how cross-sector organizational actors experiencing institutional complexity strategize their response mechanisms to create value in the context of corporate social responsibility (CSR). We conduct a comparative case study of nine social partnerships between multinational companies (MNCs) and nonprofits in China. We identify a partnership logic among the value-creating partnerships where partners guided by an either/and mindset take joint ownership of (...) the social or sustainability issue/cause and integrate it into their core set of activities and goals. By contrast, the less successful partnerships guided by an either/or mindset pursue a substitution logic in which the issue and project are kept separate and marginalized from core activities and goals. We contribute to an understanding of the value creation of cross-sector social partnerships by revealing the institutional embeddedness of such partnerships and deriving a process model of collaborative value creation through institutional works in social partnerships. (shrink)

In today’s world, on the one hand, the traditional networks of civic solidarity face an increasing number of challenges to overcome in the context of the politically uncontrolled economic modernization. On the other hand, the mere fact that we have become neighbours by virtue of globalization does not make us automatically brothers. At stake is the question of solidarity; civic cooperation in the today specific situation. In order to get a glimpse of the problem, this article attempts to examine some (...) outlines of the current situation of global market economy as it is understood by Joseph Ratzinger. It is an important sign of our times that demands pre-political morality from societies across the world so as to bring about an authentic cooperation. (shrink)

The past decades’ substantial growth in globalized meat consumption continues to shape the international political economy of food and agriculture. This political economy of meat composes a site of contention; in Brazil, where livestock production is particularly thriving, large agri-food corporations are being challenged by alternative food networks. This article analyzes experiential and experimental accounts of such an actor—a collectivized pork cooperative tied to Brazil’s Landless Movement—which seeks to navigate the political economy of meat. The ethnographic case study documents these (...) livestock farmers’ ambiguity towards complying with the capitalist commodification process, required by the intensifying meat market. Moreover, undertaking an intersectional approach, the article theorizes how animal-into-food commodification in turn depends on the speciesist logic, a normative human/non-human divide that endorses the meat commodity. Hence the article demonstrates how alternative food networks at once navigate confines of capitalist commodification and the speciesist logic that impels the political economy of meat. (shrink)

We study the sources of resistance to change among firms in the Canadian petroleum industry in response to a shift in societal level logics related to corporate environmental performance. Despite challenges to its legitimacy as a result of poor environmental performance, the Canadian petroleum industry was divided as to how to respond, with some members ignoring the concerns and resisting change (i.e., laggards) while others took action to ensure continued legitimacy (i.e., leaders). We examine why organizations within the same (...) institutional field responded differently, delaying the industry response. We found that one population of firms was aligned with increasing pressures from its stakeholders for improved environmental performance, and the other was influenced by local cultural, political, and economic ideals less demanding of environmental actions. Our results reveal that several factors both at the institutional field level and the organizational level affected how these two populations reacted to a changing societal logic. Implications for theory, practice, and future research are discussed. (shrink)

Ralph Waldo Emerson reputedly said, "If you build a better mouse trap, the world will beat a path to your door." In this article, Emerson's actual quote is seen to infer a simple rule: quality supply attracts quantity demand. Such a rule could imply that enitre businesses related to persuasion, such as public relations, advertising, and marketing seem at best unnecessary and at worst unethical. However, Emerson's logic may not apply in modern market places driven by multiple competing (...) images. This article proposes eithical thresholds for persuasion and examines the relationship of these thresholds to public relations theory. Two case studies are analyzed in which better-mousetrap logic is applied to test the viability of these thresholds. (shrink)

Confronting the uncertain environment, this article adopts a case research approach to resonate with the studies of hybridity. It aims to explain how the perception of uncertainty in the institutional environment affects the adaptation of organizational structure in pursuing legitimacy for hybrid organizations. Based on the empirical data collected from a two-staged fieldwork and in-depth interviews, the case analysis concentrates on the correlation between the evolution of institutional logics and organizational structure change from a diachronic perspective. The findings indicate (...) that in the face of competing and changing institutional logics, Chinese mass media organizations have gradually shifted from a dominated blending strategy in the exploration stage to a deeply compartmentalizing strategy in the stable stage. The hybrids can deal with the uncertainty of the institutional environment by enhancing the uncertainty of the organizational structure. Consequently, the case evolves an organizational integration through internal legitimacy. It manifests a possibility for hybrids of combining the two major response mechanisms in one process. (shrink)

In the literature on the Moral Limits of the Markets, Kant’s moral philosophy is often employed to assess the amoral or immoral nature of the commercial sphere. Markets and morality are antipodes since the instrumentality of market transactions excludes or undermines moral values. The kingdom of ends, where everything has either a price or a dignity, closes the door to market logic. The present paper challenges this view, which is also endorsed by business ethics authors advocating for Moral (...) Purism. I will show that Kant imagined a market within the Kingdom of Ends where everyone pursues their own aims while assisting others in pursuing theirs. This model, built on the universalization of the maxim of mutual assistance and the duty of honoring the spirit of mutually beneficial contracts, can be employed to judge the morality of real (empirical) market transactions. (shrink)

The product market competition has become a global challenge for business organizations in the challenging and competitive market environment in the influx of the COVID-19 outbreak. The influence of products competition on organizational performance in developed economies has gained scholars’ attention, and numerous studies explored its impacts on business profitability. The existing studies designate mixed findings between the linkage of CSR practices and Chinese business firms’ healthier performance in emerging economies; however, the current global crisis due to the (...) coronavirus has made product market completion fierce, which ultimately affects business firms’ performance. This study focuses on this logical global challenge, investigates the rationale, and examines product-market completion impact on firms’ performance operating in the Chinese markets. The study collected data from the annual reports of Chinese business organizations with A-share listing and registered with the database of China Stock Markets and Accounting Research. The study employed a Generalized Method of Moment technique and investigated the connection between product market competition and Chinese firm performance. The empirical analysis of this study highlights the conclusion that market competition positively and significantly affected business firms’ performance. This study specified that product market competition play a dynamic and indispensable role in achieving healthier firm performance in the Chinese markets. This study provides valuable insights on practical implications and future research directions for the scholars to draw interesting results with new study models. (shrink)

This article investigates whether investors consider the reliability of companies’ sustainability information when determining the companies’ market value. Specifically, we examine market reactions (in terms of abnormal returns) to events that increase the reliability of companies’ sustainability information but do not provide markets with additional sustainability information. Controlling for competing effects, we regard companies’ additions to an internationally important sustainability index as such events and consider possible determinants for market reactions. Our results suggest that first, investors (...) take into account the reliability of sustainability information when determining the market value of a company and second, the benefits of increased reliability of sustainability information vary cross-sectionally. More specifically, companies that carry higher risks for investors (e.g., higher systematic investment risk, higher financial leverage, and higher levels of opportunistic management behavior) react more strongly to an increase in the reliability of sustainability information. Finally, we show that the benefits of an increase in the reliability of sustainability information are higher in times of economic uncertainty (e.g., during economic downturns and generally high stock price volatilities). (shrink)

Growing research suggests social ventures (SVs) variably combine social and profit orientations in core organizational features, and this variation in hybridity leads to divergent organizational dynamics and outcomes. However, no comprehensive and precise measurement scale has emerged to capture the varying degrees of hybridity across SVs. To advance theory and empirical research, this study presents an instrument for assessing how organizational actors perceive the degree to which social and market logics are (a) compatible and (b) central to organizational (...) functioning. An inductive-confirmatory two-study approach ( Nstudy1 = 293, Nstudy2 = 315) validates a hybridity scale—composed of 6-item compatibility and 4-item centrality factors—for U.S. nonprofit organizations, benefit corporations, and social enterprises. Moreover, results reveal perceived compatibility is associated with SVs’ revenue structure, whereas centrality is related to their legal status. The development of this scale will facilitate large-scale quantitative research that systematically examines the varied nature, drivers, and implications of organizational hybridity. (shrink)

This paper has arisen from a concern that much recent policy-related research on markets displays misogynistic tendencies. In both the media and academic accounts it would appear as though the blame for social and educational inequalities can now be laid at the door of women - particularly middle-class mothers. Through examining competing perspectives on how we might understand this attribution of blame, this paper argues that their guilt is best explained not through changes in behaviour but through the conjuncture (...) of shifts in education policy and related research. These shifts have turned the attention of research away from the public domain of the state and the organisational and cultural attributes of schools to focus on the private domain of domestic decision-making. But the representations of these public and private domains are underpinned by unexamined gendered and ideological subtexts which have limited our powers of description and explanation. The paper concludes by suggesting strategies through which we might both address the tacit misogyny in research on markets and develop more sophisticated accounts of contemporary changes. (shrink)

This article focuses on the global phenomenon of the marketization of higher education and how it has shaped the discourses of China’s top universities. By analyzing the university presidents’ messages published in the websites of 36 top-ranked universities in China, the aim is to ascertain the extent to which this institutionalized genre imbricates a marketizing role with other ideological imperatives. Informed by the theoretical principles of Critical Discourse Analysis and adopting a genre analysis methodological approach, we first examined the macro-level (...) rhetorical structure followed by a micro-level analysis of the discursive strategies used in the presidents’ messages. The findings reveal a dynamic interweaving of three distinct discursive strands – bureaucratic, conversational and advertising – constructed in and around the move structure of the presidents’ messages. This interdiscursive analysis reveals competing imperatives and contestations that reflect the dual role of the presidents’ messages to project a globalized, international outlook while maintaining an allegiance to political ideologies and national interests that top-ranked universities in China have to simultaneously negotiate. (shrink)

In this paper, I investigate whether we can use a world-involving framework to model the epistemic states of non-ideal agents. The standard possible-world framework falters in this respect because of a commitment to logical omniscience. A familiar attempt to overcome this problem centers around the use of impossible worlds where the truths of logic can be false. As we shall see, if we admit impossible worlds where “anything goes” in modal space, it is easy to model extremely non-ideal agents that (...) are incapable of performing even the most elementary logical deductions. A much harder, and considerably less investigated challenge is to ensure that the resulting modal space can also be used to model moderately ideal agents that are not logically omniscient but nevertheless logically competent. Intuitively, while such agents may fail to rule out subtly impossible worlds that verify complex logical falsehoods, they are nevertheless able to rule out blatantly impossible worlds that verify obvious logical falsehoods. To model moderately ideal agents, I argue, the job is to construct a modal space that contains only possible and non-trivially impossible worlds where it is not the case that “anything goes”. But I prove that it is impossible to develop an impossible-world framework that can do this job and that satisfies certain standard conditions. Effectively, I show that attempts to model moderately ideal agents in a world-involving framework collapse to modeling either logical omniscient agents, or extremely non-ideal agents. (shrink)