One of the hot research topics today is relationship marketing. However, little research has been carried out in understanding the complex concepts of Guanxi (relationship) in a Chinese society. This research describes a study to operate the constructs of guanxi and explores the importance of guanxi in relationship development in order to present a new Guanxi framework. A study of both Western and Chinese literature provides foundations of the Guanxi perspectives. The constructs of adaptation, trust, opportunism (...) and favour are identified. Adaptation and trust are found to be positively correlated with sales stability and quality. Whilst, adaptation is negatively correlated with relationship termination costs. Both theoretical framework (a new perceptual map) and managerial implications are given. In addition, recommendations for future research are made. (shrink)

Non-profit (NP) organizations present complex challenges in managing stakeholder relationships, particularly during times of environmental change. This places a premium on knowing which stakeholders really matter if an effective relationship marketing strategy is to be developed. This article presents the successful application of a model, which combines Mitchell’s theory of stakeholder saliency and Coviello’s framework of contemporary marketing practices in a leading NP organization in the U.K. A cooperative enquiry approach is used to explore stakeholder relationships, dominant (...) marketing practices, and to surface differing perceptions about the organization’s marketing strategy. Resolving these differences sets the scene for developing choices in marketing strategy for the future. (shrink)

This paper explores the managerial aspects of the relationship with stakeholders, under the assumption that transfer of knowledge is being made from relationship marketing and market orientation perspectives. These marketing tools may prove useful to manage the relationship with other stakeholders, as has been the case with customers. This study focuses on a sample of Spanish companies representing 43% of listed companies with the largest market capitalization. Given that this is the first time that corporate (...) relationship with stakeholders is analyzed in Spain, a qualitative technique (case analysis) was used. The main conclusion of the study is that most of the participant companies have a reactive position vis-à-vis stakeholders management systems. This attitude is reflected in their concern exclusively about ethical indexes managers. (shrink)

PurposeGiven the digital transformation of service businesses by providing online food services and the influence of online reviews on consumers’ purchasing decisions, this study examines how service recovery attributes in different stages influence relationship marketing strategies, i.e., relationship quality and customer loyalty after service failure. This study is built upon a revised service recovery cycle model by accounting for three stages and their corresponding attributes; whereon a conceptual stage model of service recovery is proposed. This conceptual stage (...) model incorporates stages of service recovery, their respective attributes, and how they influence relationship marketing strategies.Design/methodology/approachAn online marketing company was employed for data collection in 2019, which resulted in 301 valid responses. A Structural Equation Model was conducted with all the data to test the relationships between the constructs. The individual measurement model was tested using the Exploratory Factor Analysis and Confirmatory Factor Analysis. A structural model was estimated using AMOS to test all the hypotheses.FindingsThe findings demonstrate that the attributes paired with the first two stages of service recovery can significantly influence consumer loyalty in a positive state. The findings also manifest the intermediary role that relationship quality has played in the association of service recovery and consumer loyalty, which implies that the food delivery businesses could attain a more comprehended relationship quality with consumers through active and timely compensatory service recovery consumer loyalty to the food businesses.Originality/valueThis study examines how these different stages of the service recovery cycle influence the decision-making of relationship marketing strategies on the prerequisite of service failure. This study aspires to expand the service recovery research by objectifying a conceptual stage model of service recovery, incorporating stages’ recovery attributes and how these recovery attributes reciprocally influence relationship quality and customer loyalty. (shrink)

Corporate social responsibility is a force to “pull” customers to the organizational mission and values, and influence them to contribute to the organization. The primary purpose of the research is to assess how CSR contributes to customer value co-creation. The research also seeks evidence on the moderation mechanisms of servant leadership and relationship marketing orientation for the effect of CSR on customer value co-creation behavior. The data were collected from 873 employees and 873 customers in software industry in (...) Vietnam context. The data analysis supported the positive effect of CSR on customer value co-creation behavior. Servant leadership and relationship marketing orientation were also found to play moderating roles for the CSR–customer value co-creation linkage. (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)

I argue that women in traditional marriages are a vulnerable source for kidneys and this vulnerability gives rise to exploitative donation arrangements made within families. In so doing, I critique Alan Wertheimer’s account of the impact that emotional closeness between participants in an agreement has on the wrongfulness of exploitation. I propose a regulated market scheme that is not only less exploitative than our current donation scheme, but also resolves a variety of other moral problems that typically arise in real (...) and imagined kidney sale scenarios, problems that render markets “noxious,” according to Debra Satz. (shrink)

We investigate whether the distinct nature of multinational firms (MNC) differently influence the governance-performance relationship compared to the local firms in Pakistan. We used a dynamic system GMM estimator that produces consistent and efficient estimation after controlling for dynamic endogeneity and simultaneity. Our results demonstrate that corporate governance (CG) has a significant positive impact on firm financial performance whilst CG practice of MNC firms is more effective than local firms in Pakistan. We observed two distinct financing behaviours, i.e., ‘pro-active (...) investment behaviour’ of MNC firms and ‘conservative investment behaviour’ of local firms. We conclude that a well-established corporate culture, significant financial worth and firms’ higher growth rate are key determinants of better CG practice. (shrink)

Firm–employee relationships are dependent on the wider societal context and on the role business plays in society. Changes in institutional arrangements in society affect the perceived responsibilities of firms to their personnel. In this study, we examine mass media discussions about firm–employee relationships from a social responsibility perspective via a longitudinal study in Romanian society. Our analysis indicates how the expected responsibilities of firms towards employees have altered with the changing role of firms in society since the early 1990s. These (...) transformations correspond to the ideological developments, from communist to market-based thinking, which have taken place in post-communist Eastern Europe. More specifically, our study shows how the diminishing expectations of corporate social responsibility (CSR) are linked in mass media to increasingly important talk of human resource management (HRM). HRM is a modern business approach believed to address personnel needs and organisational objectives simultaneously. The congruency of goals in HRM may mistakenly lead to the conclusion that organisations are inherently responsible toward their personnel. We argue that this may not necessarily be the case. HRM, matching well the new free-market ideology in post-communist Eastern Europe, was eagerly embraced in that it defined firm–personnel relationships. In this study, we question whether this was an adequate theoretical perspective for Romanian firms to adopt as it lacks sufficient ethical grounding. We also call for a higher awareness concerning the role of mass media in the management literature, since its current role in constructing the ‘rightness’ and ‘wrongness’ in firm–personnel relationships is hardly considered. (shrink)

Experience marketing plays an important role in improving the quality and upgrading tourism services in cultural tourism cities and helps guide the planning and development, commodity design, and business management of cultural tourism products. However, the urgent problems that need to be solved are as follows: How does experiential marketing in cultural tourism cities affect tourists' consumption behavior? How to adjust consumption emotion in tourist experience and revisit intention? Starting from the experience needs of tourists, this study selected (...) Jinan city, represented by “Qilu culture,” as the research object; discussed the relationship between experiential marketing, consumption emotion, and revisit intention; and used a structural equation model to verify the relationship between the three. This study divided the perception of experiential marketing into four dimensions—sensory experience, action experience, emotional experience, and thinking experience, and divided tourists' revisit intention into two dimensions— “revisit” and “recommendation”. Totally, 305 tourists were randomly selected to participate in the questionnaire survey, and they came from 34 provinces in China. The results showed that cultural tourism cities can enhance tourists' positive consumption emotion through experiential marketing over time, and high-quality tourist consumption experience directly motivates tourists to revisit intention and then promotes tourists to go to cultural tourism cities for secondary consumption. These results suggest that cultural tourism cities should start from Maslow's hierarchy of needs theory, pay attention to the needs of tourists at different levels, and adopt effective experiential marketing strategies from tourism experience to improve the quality of tourists' travel experience and promote tourists' revisit intention. (shrink)

The integration of the global economy has led to an increasingly strong connection between the futures and spot markets of commodities. First, based on one-minute high-frequency prices, this paper applies the thermal optimal path method to examine the lead-lag relationship between Chinese crude oil futures and spot from March 2018 to December 2021. Second, we apply the Mixed Frequency Data Sampling Regression model and indicators such as deviation degree to test the degree of prediction of high-frequency prices in the (...) futures market to the spot market. The experimental results show that the futures markets lead the spot market most of the time, but the lead effect reverses when major events occur; 60-minute futures high-frequency prices are the most predictive of daily spot data; crude oil futures’ predictive power declined after the Covid-19 outbreak and is more predictive when night trading is available. This study has important implications, not only to guide investors but also to provide empirical evidence and valid information for policy makers. (shrink)

As a most important component of capital market, stock market has always been regarded as the “barometer” of macroeconomy. However, many researchers have found that the stock market is not always in the lead, especially for the emerging markets, and the leading role of different sector indices is also different for the corresponding sectors. From the perspective of a comparison between mature market and emerging market at sectoral level, this paper utilizes the thermal optimal method to examine the dynamic lead-lag (...) relationships between stock sector indices and macroeconomic variables for the USA and China. The results show that, for the US stock market, three sector indices including consumption, industry, and real estate have been leading the corresponding macroeconomic variables since 2013; for the Chinese stock market, the lead-lag relationships are different for these sectors. The real estate sector index and the industry sector index have been leading the corresponding macroeconomic variables since 2010, and the lead-lag relationship between the consumption sector index and the total retail sales is not always positive or negative, which means that the consumption sector index does not always lead the total retail sales. The empirical results confirm that the “barometer function” of immature stock market is still weak and easier to be disabled by factors such as irrational market sentiment. (shrink)

The Societal Marketing Concept represents a shift in the focus of business activities from fulfilling the desires of “individual” consumers in the “short-term” (marketing concept) to protecting the “collective” interests of the society in the “longterm.” In this research we develop a conceptual framework that identifies three processes through which the transition from marketing to societal marketing concept takes place. These three processes are Socially Responsible Marketing, Environmentally-Friendly Marketing, and Morally Just Marketing. Each (...) of these three components is developed by reviewing the relevant literature in the related fields, examples are given, and marketing implications are discussed. We evaluate the acceptance of the Societal Marketing concept, identify reasons for its limited success, and discuss how the acceptance and practice of Societal Marketing Concept by businesses, consumers, and public policy makers can possibly be increased. The final section of the paper identifies Global Societal Marketing Concept as the next possible paradigm. (shrink)

This paper advances the Hunt–Vitell General Theory of Marketing Ethics as a framework for enriching current understanding of both long-term marketing relationships in general, and principal-agent associations specifically. Under economic models of agency theory, manufacturer-distributor relationships are conceptualized as principal-agent associations where both parties are assumed be motivated exclusively by short-term financial self-interest within the logical constraints of zero-sum game conditions. As a general model of ethical decision making and behavior in marketing, the Hunt–Vitell theory illustrates how (...) ethical decisions are predicated not only upon estimations of potential benefits or outcomes (using teleological criteria), but also deontological evaluations which invoke norms and values. Furthermore, the recent ideas advanced in "relationship marketing" perspectives suggest that distribution channel associations premised upon non-zero-sum or symbiotic assumptions may be more effective and more jointly profitable. Based upon the Hunt–Vitell model, propositions are formulated that complement the understanding of agency theory within the context of marketing channel relationships, and thus, may represent a basis for more effective agency selection and interaction in marketing practice. (shrink)

ABSTRACT: What kinds of markets, market regulations, and business organizations are compatible with contemporary egalitarian theories of justice? This article argues that any thoughtful answer to this question will have to draw on recent developments in political philosophy that are concerned not only with the equality of the distribution of core goods but also with the requirements for equality of status, voice, and so on, in the relations between individuals and within organizations. The dominance of theories of distributive justice in (...) egalitarian political philosophy since Rawls may have contributed, on the one hand, to the oft-recognized gulf between these theories and their theorists and, on the other, to discussions of corporate governance and business ethics. The main purpose of this article is to introduce business ethicists to some of the less-familiar features of recent relational theories of justice and equality, and to suggest that some of these notions may help bridge the gap between business ethics and political philosophy more generally. (shrink)

This study aims to map out the relationships that make up green innovation initiatives in Brazilian industry. The sample comprised 100 managers at manufacturing companies, most of them operating in the business of farm machinery and equipment and steel structures. To develop this study, Medeiros et al. study, mapping critical factors that drive the success of green product innovation and the paradigm of complexity, was used as a reference study. Based on the results, it was possible to identify that the (...) operational dynamic of the factors and variables that affect market success do not happen in an isolated or fragmented way; they occur systematically with different contingencies and structured basic and intermediate skills in order to meet the expectations of consumers, laws, and environmental legislation. Initially, the technological expertise factor was noted as very important for sustaining green product innovation. Furthermore, since proactive leaders are an important factor for successfully developing environmentally sustainable products, it must be added to technological expertise as the foundation for developing green innovation. After defining the basis for green product innovation, the intermediary conditions necessary for using the available technology appropriately were mapped out. In this sense, variables such as “elimination of cultural barriers,” “capacity for critical reflective analysis,” and “experimentation” are also very important. In addition, some of the variables of the cross-functional collaboration and market knowledge factors were a part of the structure that organizations need to transform potential into developing green products, which is the basis for the third level of the model. The fourth level of the model has the “meeting consumer expectations” and “following law and legislation” factors, which make up the main goals for developing environmentally sustainable products according to a number of surveys that were conducted. (shrink)

In the literature, CSR’s roles on firm performance are found to be positive, negative, or neutral. This inconclusive pattern suggests there may be a more complicated mechanism at work than the traditional focus on simple linear associations. We propose and test an inverted-U-shaped relationship between CSR and shareholder value, the fundamental measure of firm performance. Further, we incorporate a critical firm attribute, marketing capability, to moderate the nonlinear link between CSR and shareholder value, thereby exploring a previous understudied (...) area involving the interplay between CSR and market-side competency. The results show that an initial increase in CSR engagement positively drives firm shareholder value, but the effect turns negative when a firm pursues excessive CSR engagement. Notably, however, this negative association does not apply to firms that have a high marketing capability. Our research generates meaningful implications for a stakeholder view of CSR, strategic management, firm valuation, resource-based theories, and business practices. (shrink)

We investigate the cross-correlations of return-volume relationship of the Bitcoin market. In particular, we select eight exchange rates whose trading volume accounts for more than 98% market shares to synthesize Bitcoin indexes. The empirical results based on multifractal detrended cross-correlation analysis reveal that the nonlinear dependencies and power-law cross-correlations in return-volume relationship are found; all cross-correlations are multifractal, and there are antipersistent behaviors of cross-correlation for q=2; the price of small fluctuations is more persistent than that of the (...) volume, while the volume of larger fluctuations is more antipersistent; and the rolling window method shows that the cross-correlations of return-volume are antipersistent in the entire sample period. (shrink)

Market relationships built on trust and governed by commonly accepted ethical norms are generally viewed as economically positive and beneficial to both parties; however, such relationships are occasionally the situs of a variety of unexpected and ethically questionable behaviours. This study examines the narratives provided by participants who share their experience as an exchange partner in a market relationship or as a close observer of an exchange partner in a market relationship to identify the use of short-term deceptions (...) and ethics defections in managing these relationships. The data demonstrate a number of instances in which one exchange partner is willing to deceive another. Situations identified include deceiving current customers, new customers, current suppliers, governmental bodies, and employees and managers for the purposes of: protecting an existing relationship, pursuing a new relationship, ensuring product or service quality, and exerting control over a relationship. This research develops a general analytic framework for the occurrence of deception and defection from ethical norms in market relationships from elements of the study participants' narrative reports. This framework can be used by future researchers to design studies that examine the specific antecedents of these behaviours. (shrink)

Market relationships built on trust and governed by commonly accepted ethical norms are generally viewed as economically positive and beneficial to both parties; however, such relationships are occasionally the situs of a variety of unexpected and ethically questionable behaviours. This study examines the narratives provided by participants who share their experience as an exchange partner in a market relationship or as a close observer of an exchange partner in a market relationship to identify the use of short‐term deceptions (...) and ethics defections in managing these relationships. The data demonstrate a number of instances in which one exchange partner is willing to deceive another. Situations identified include deceiving current customers, new customers, current suppliers, governmental bodies, and employees and managers for the purposes of: protecting an existing relationship, pursuing a new relationship, ensuring product or service quality, and exerting control over a relationship. This research develops a general analytic framework for the occurrence of deception and defection from ethical norms in market relationships from elements of the study participants' narrative reports. This framework can be used by future researchers to design studies that examine the specific antecedents of these behaviours. (shrink)

This study aims to map out the relationships that make up green innovation initiatives in Brazilian industry. The sample comprised 100 managers at manufacturing companies, most of them operating in the business of farm machinery and equipment and steel structures. To develop this study, Medeiros et al. study, mapping critical factors that drive the success of green product innovation and the paradigm of complexity, was used as a reference study. Based on the results, it was possible to identify that the (...) operational dynamic of the factors and variables that affect market success do not happen in an isolated or fragmented way; they occur systematically with different contingencies and structured basic and intermediate skills in order to meet the expectations of consumers, laws, and environmental legislation. Initially, the technological expertise factor was noted as very important for sustaining green product innovation. Furthermore, since proactive leaders are an important factor for successfully developing environmentally sustainable products, it must be added to technological expertise as the foundation for developing green innovation. After defining the basis for green product innovation, the intermediary conditions necessary for using the available technology appropriately were mapped out. In this sense, variables such as “elimination of cultural barriers,” “capacity for critical reflective analysis,” and “experimentation” are also very important. In addition, some of the variables of the cross-functional collaboration and market knowledge factors were a part of the structure that organizations need to transform potential into developing green products, which is the basis for the third level of the model. The fourth level of the model has the “meeting consumer expectations” and “following law and legislation” factors, which make up the main goals for developing environmentally sustainable products according to a number of surveys that were conducted. (shrink)

This paper investigates the relationship between two outcomes of relationship marketing – affective commitment and behavioral loyalty – and consumers' unethical behavior. The main objective of the study is to assess whether affective commitment and behavioral loyalty to a store translate into more ethical behavior towards that store, controlling for the variables of age, gender, and ethical beliefs. The study does not rely on a single measurement tool, but is based on ten months' panel data and three (...) different mail surveys targeted at 359 Belgian households. The results provide support for our hypothesis that affective commitment is indeed negatively correlated with consumers' unethical behavior. The same conclusion could not be drawn for the relationship between behavioral loyalty and consumers' unethical behavior. No significant relationship was detected, not even in situations where affective commitment was high. The results hold major implications for retailing practice. (shrink)

Among business ethicists, Adam Smith is widely viewed as the defender of an amoral if not anti-moral economics in which individuals’ pursuit of their private self-interest is converted by an ‘invisible hand’ into shared economic prosperity. This is often justified by reference to a select few quotations from The Wealth of Nations. We use new empirical methods to investigate what Smith actually had to say, firstly about the relationship between free market institutions and individuals’ moral virtues, and secondly about (...) the further relationship between virtues and societal flourishing. We show with more quantitative precision than traditional scholarship that the invisible hand reading dramatically misrepresents both the nuance and the sum of Smith’s analysis. Smith paid a great deal of attention to a flourishing society’s dependence on virtues, including the non-self-regarding virtues of justice and benevolence, and he worried also about their fragility in the face of the changed incentives and social conditions of commercial society. (shrink)

This paper investigates the relationship between two outcomes of relationship marketing - affective commitment and behavioral loyalty - and consumers' unethical behavior. The main objective of the study is to assess whether affective commitment and behavioral loyalty to a store translate into more ethical behavior towards that store, controlling for the variables of age, gender, and ethical beliefs. The study does not rely on a single measurement tool, but is based on ten months' panel data and three (...) different mail surveys targeted at 359 Belgian households. The results provide support for our hypothesis that affective commitment is indeed negatively correlated with consumers' unethical behavior. The same conclusion could not be drawn for the relationship between behavioral loyalty and consumers' unethical behavior. No significant relationship was detected, not even in situations where affective commitment was high. The results hold major implications for retailing practice. (shrink)

More and more well-documented failure of established companies which could not respond to rapid market changes, such as Kodak and Nokia, demonstrate the importance of transferring marketing information into real firm performance. While marketing strategy and management literature has long advocated the direct impact of strong firm market orientation (MO) on new product development (NPD) performance, limited research has discussed the mediating mechanism of this MO-NPD performance relationship. Using the traditional source–position–performance (SPP) framework, this study focuses on (...) the innovation ambidexterity perspective to investigate the mediating mechanism between MO and NPD performance. Then, this study proposed a conceptual framework and propositions to examine the MO - NPD performance relationship further. Theoretical and practical implications of the findings are also discussed. (shrink)

Corporate social responsibility (CSR) continues to gain attention atop the corporate agenda and is by now an important component of the dialogue between companies and their stakeholders. Nevertheless, there is still little guidance as to how companies can implement CSR activity in order to maximize returns to CSR investment. Theorists have identified many company-favoring outcomes of CSR; yet there is a dearth of research on the psychological mechanisms that drive stakeholder responses to CSR activity. Borrowing from the literatures on meansend (...) chains and relationship marketing, we propose a conceptual model that explains how CSR provides individual stakeholders with numerous benefits (functional, psychosocial, and values) and how the type and extent to which a stakeholder derives these benefits from CSR initiatives influences the quality of the relationship between the stakeholder and the company. The paper discusses the implications of these insights and highlights a number of areas for future research. (shrink)

The purpose of this research is to examine the impact of individual and firm moral philosophies on marketing exchange relationships. Personal moral philosophies range from the extreme forms of true altruists and true egoists, along with three hybrids that represent middle ground. Organizational postures are defined as Ethical Paradigm, Unethical Paradigm, and Neutral Paradigm, which result in changes to personal moral philosophies and company and industry performance. The study context is a simulation of an exchange environment using a variation (...) of the prisoners' dilemma game. A literature review is provided in the opening section, followed by details on the simulation, discussion of the results, and the implications for theory and practice. (shrink)

The main aim of this study was to empirically analyze whether Institutional Quality moderates the relationship between corporate governance and stock liquidity through the light of agency and information asymmetry theory. To the best of our knowledge, this is the first finance study. The sample consists of 230 non-financial firms listed on the Pakistan stock exchange during the period of 2009–2019. We used an instrumental variable approach and our new Institutional Quality index composed of world governance indicators and a (...) corporate governance index, developed via principal component analysis, to demonstrate a relationship between corporate governance and stock liquidity and check the moderating role of Institutional Quality by following the resources complementary phenomenon. Our results show a significant, positive relationship between the corporate governance index and stock liquidity, suggesting that well-governed firms have high liquidity. The results show that the Institutional Quality index has a positive moderating impact on the relationship between corporate governance and stock liquidity, suggesting that corporate governance in Pakistan is weak. Our results are robust to a series of endogeneity checks using alternative proxies of stock liquidity. (shrink)

Semiotic objections to commodification hold that buying and selling certain goods and services is wrong because of what market exchange communicates or because it violates the meaning of certain goods, services, and relationships. We argue that such objections fail. The meaning of markets and of money is a contingent, socially constructed fact. Cultures often impute meaning to markets in harmful, socially destructive, or costly ways. Rather than semiotic objections giving us reason to judge certain markets as immoral, the usefulness of (...) certain markets gives us reason to judge certain semiotic codes as immoral. (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)

The current study looked at the impact of board of director characteristics on corporate social responsibility (CSR) in the Pakistani setting. The study further added to the body of knowledge by comparing the impact of board characteristics in family versus non-family businesses in an emerging market. The study’s sample consists of 139 non-financial Pakistan Stock Exchange (PSX) listed firms from 2008 to 2019. The level of CSR among sample firms was assessed using a multidimensional financial approach. The random-effect model was (...) employed to test the study’s hypotheses. The findings support the dysfunctional view of the role of the board of directors’ in family-owned businesses. Overall, board size and CEO duality have a significant negative impact on CSR, whereas board independence has a significant positive impact. While these findings applied to both family-owned and non-family-owned businesses. It was discovered that among family-owned businesses, boards tend to look after the interests of family members, and thus are less likely to support CSR. The findings of this study will assist regulatory authorities, investors, and financial analysts in understanding CSR practices in Pakistani firms, allowing them to review the role of the board of directors in CSR among family and non-family-owned firms. (shrink)

The purpose of this research is to examine the impact of individual and firm moral philosophies on marketing exchange relationships. Personal moral philosophies range from the extreme forms of true altruists and true egoists, along with three hybrids that represent middle ground (i.e., realistic altruists, tit-for-tats, and realistic egoists). Organizational postures are defined as Ethical Paradigm, Unethical Paradigm, and Neutral Paradigm, which result in changes to personal moral philosophies and company and industry performance. The study context is a simulation (...) of an exchange environment using a variation of the prisoners' dilemma game. A literature review is provided in the opening section, followed by details on the simulation, discussion of the results, and the implications for theory and practice. (shrink)

This article analyzes the relationship between corporate social responsibility (CSR) decoupling and financial market outcomes. CSR decoupling refers to the gap between CSR disclosure and CSR performance. More specifically, we analyze the effect of CSR decoupling on analysts’ forecast errors, cost of capital, and access to finance. We also examine the moderating effect of forecast errors on relationships between CSR decoupling and cost of capital and access to finance. For a sample of U.S. firms consisting of 7,681 firm-year observations (...) for the period 2006–2015, our empirical evidence supports the idea that a wider gap results in higher analysts’ forecast errors, a greater cost of capital, and reduced access to finance. In addition, our results show that forecast errors enhance the effect of the CSR decoupling on cost of capital and access to financial resources. We also note that external monitoring, in the form of greater analysts’ coverage, reduces CSR decoupling. (shrink)

This study in progress addresses the question of how market competition affects corporate social performance. An empirical analysis is described designed to shed light on recent theoretical developments on the relation between market structure and stakeholder responsiveness and to inform on the old debate between Friedman and Corporate Social Responsibility.

The current study sought to assess the mediating role of green market orientation dimensions in the relationship between social risk and new product performance among European Multinational Enterprises (EMNEs). We also assessed the moderating role of entrepreneurial orientation in the relationship between green market orientation and new product performance. The study was based on primary data gathered from 317 EMNEs in Ghana. After various validity and reliability checks, ordinary least squares (OLS) analysis was performed to estimate the various (...) relationships hypothesized in the study. The study finds that social risk has a negative effect on the success of EMNEs' new products. This negative effect is however nullified by the positive mediating effects of strategic green market orientation, tactical green market orientation and internal green market orientation. Entrepreneurial orientation also played a significant moderating effect in the relationship between green market orientation dimensions and EMNEs' new product performance. Based on this, theoretical and managerial contributions were made. (shrink)

In this essay, we consider a set of related questions concerning the role and nature of money, the working of markets, and the relationship between forms of social organization and money. Among other things, we speculate that efforts to purge the neo-classical theory of markets of the phenomenon of false trading have been misguided in the sense that they fail to grasp the dependence of a market system on the existence of some false trading.

Research based on the behavioral theory of the firm (BTOF) argues that firms will actively adopt strategic actions to respond to performance that falls below aspirations, that is performance shortfalls. However, most previous studies have focused on market-related strategic actions, paying less attention to the impact of performance shortfalls on non-market-related strategic actions, especially corporate social responsibility (CSR) and corporate social irresponsibility (CSI). In this study, we propose that firms facing performance shortfalls are likely to reduce CSR levels and increase (...) CSI levels. In addition, we also propose that board characteristics (board size, board age and board tenure) have a significant moderating effect on the above relationship. Empirical analyses based on an unbalanced panel data of China's listed firms from 2010 to 2018 show that our arguments are largely supported. (shrink)

The need for conceptual work in marketing ethics is addressed by examining the five techniques of neutralization as a means for partially explaining unethical behaviors by marketing practitioners. These techniques are often used by individuals to lessen the possible impact of norm-violating behaviors upon their self-concept and their social relationships. Borrowed from the social disorganization and deviance literature, the five techniques of neutralization are: (1) denial of responsibility, (2) denial of injury, (3) denial of victim, (4) condemning the (...) condemners and (5) appeal to higher loyalties. Examples of marketing professionals using each of the five techniques are given, and a conceptual model linking the techniques of neutralization with unethical behavior is presented. Finally, relevant research questions are offered for consideration. (shrink)

In this study, we conducted two experiments to examine the effect of relationship commitment on the reaction of shoppers to receiving too much change, controlling for the amount of excess change. Hypotheses based on equity theory, opportunism and guilt were set up and tested. The first study showed that, when the less committed consumer is confronted with a large excess of change, he/she is less likely to report this mistake, compared with a small excess. Conversely, consumers with a high (...) commitment towards the retailer are more likely to tell when they receive too much change, especially when the amount is large. The second experiment provided an explanation for these findings: the less committed consumer is driven by opportunism, whereas guilt-related feelings play an important role in a high commitment relationship. These results have several implications for both retail management and future research. (shrink)