Book Reviews

Ohne Zusammenfassung

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Book reviews

     

The extraterrestrial imperative

Mankind's move into space is not simply compatible with biological and cultural evolution, but has and will confer many economic benefits. Rich and poor countries can gain from a range of remote sensing satellites; some existing manufacturing processes would operate better in space, and useful new ones initiated there; and some limits to Earth-based energy and materials resources could be eased by exploiting space.     

The governance of innovative firms: An evolutionary perspective

Corporate governance has been in the recent years one of the most debated issues in conventional economic approaches. Agency theory combined with financial indicators has particularly contributed to the development of shareholder value as a key concept in companies’ governance both at a theoretical and empirical level. We argue that an evolutionary perspective can be developed on the governance of innovative firms since (1) conventional economic approaches only consider a restricted part of this complex issue, and (2) this restricted vision applied in practice has driven the economic system into major coordination problems and turbulences. On the basis of empirical investigations into the telecommunications industry, and guided by a simple model of evolutionary game, we propose new principles of corporate governance centered upon managerial entrepreneurship and its role on innovation and industry dynamics. The outcome is a set of rules of conduct for the manager and the shareholder.     

CORPORATE GOVERNANCE AND THE GOVERNANCE OF KNOWLEDGE: RETHINKING THE RELATIONSHIP IN TERMS OF CORPORATE COHERENCE

Abstract

Corporate governance and the governance of knowledge were for a long time distinct fields of analysis. Reasons for this incompatibility are linked to the restricted vision of corporate governance supported by shareholder value which essentially refers to information rather than knowledge. In this paper, we argue that other visions of corporate governance exist which are also closer to knowledge dynamics and knowledge governance problems. We elaborate thus on the possible reconciliation between corporate governance and the governance of knowledge. We sustain that each key actor (the manager and the investor) embodies a piece of diversified and localized knowledge related to his/her specific domain and field of experience, and these different modules of knowledge have to be recombined by an appropriate mode of corporate governance that stimulates corporate development. In this perspective, the reconciliation really appears essential since managers, by defining and selecting innovative processes, and investors, by determining the money that is invested to sustain these processes, both take part in the creation and governance of new knowledge by the firm. We show that this reconciliation can be based on the notion of corporate coherence of the cognitive firm that allows replacing the conventional conflicting vision of corporate governance by a new vision based on cooperation between managers and investors that collectively contribute to corporate development and coherence.     

Purchased,modified, created: consumer voices in experience gifts

Gift-giving behaviour is an established topic in consumer research, but little is known about the phenomenon of experiences as gifts. Experience companies are only part of the market; hospitality, tourism, leisure and entertainment providers also have the potential to offer such gifts. Using real-life consumer accounts, this research explores the behaviour associated with purchased, modified and created experience gifts. The findings show that consumers act as adaptors and competitors as well as purchasers, make specific use of information technology and use ‘donor resources’ to convey meaning in ways unappreciated by industry in this wider portrayal of the experience gift sector.     

A logistic two-population mortality projection model for modelling mortality at advanced ages for both sexes

In the current literature, numerous mortality projection models have been proposed and tested, but in general they have been designed for and applied to mainly ages below 90. As medical advances are being shifted to older ages over time and there is a rapid growth in the number of centenarians, there is a need to expand the modelling to older ages. We propose a logistic two-population mortality projection model for the death rates at ages 80 to 100+ for both sexes. We apply this model and its extensions to high quality old-age mortality data of Belgium, Sweden, Switzerland, and the UK and produce decent model performance in both mortality fitting and forecasting. The model structure also provides a reasonable way to close off the life table, which is supported by both theoretical arguments and empirical evidence.     

Extending design-optimality from an initial model to augmented models

We consider an initial linear model E(Y)=B a and an augmented model E(Y)=B a+C b. We show that, if a design is optimal for estimating K a in the initial model, then there exists a matrix L such that this design is also optimal for estimating K a+L b in the augmented model. Received: December 1998     

Identifying and evaluating adaptation strategies for cruise tourism in Arctic Canada

The cruise tourism industry in Arctic Canada has recently grown rapidly with stable numbers now emerging. While there are many socio-economic opportunities associated with growth, climate change, and environmental, technical and cultural risks also present significant management challenges. To enhance understanding of these opportunities and risks, this study adopted a policy Delphi approach to identify and evaluate potential adaptation strategies to aid decision-makers and policy-makers managing cruise tourism development and its associated impacts. Over 500 ideas were identified. These were distilled down to 65 potential adaptation options, which were evaluated for priority and feasibility by key stakeholders including local residents, tourism operators, and policy-makers. The majority of recommendations were evaluated as of high priority and most options were perceived to be somewhat affordable and implementable. Key needs included disaster management plans, updated technology and ship navigation systems, improved marine resource mapping, and the development of a code of conduct for cruise tourists to guide visitor behaviour and promote a sustainable approach. The research represents the first empirical study to identify and evaluate adaptation strategies for cruise tourism development in Arctic Canada and outlines current priorities, opportunities, and challenges associated with managing socio-economic change in Arctic Canada in sustainable ways.