Limits of imagineering: a case study of Penang

Penang Development Corporation, tasked with placing Penang at the forefront of Malaysia's economic development, has imagineered Penang into a city of vibrance and innovation. Besides manufacturing, tourism is promoted as a mainstay of the economy. Consequently, the themes of culture, heritage, sun and sea, adventure/nature and agro‐tourism have been selected and attractions have been appropriated and strategically amplified to fit into the themes. At each of these themed sites, symbols and signifiers make the consumption of the landscape easier, bolstered by a carnival spirit that will heighten the fun tourists come to expect. Tourists can also safely consume the exotic beaches without exposure to danger because they are ‘protected’ from the locals. The imagineering has excluded Penangites whose lived landscapes have been ignored in favor of images which tourists can easily consume. Penangites have rallied together to challenge the conservation program which they claim is biased to tourism, to assert their rights to the maintenance of public roads, and to their use of public places such as Batu Ferringhi beach. The article exemplifies the contestation that occurs when places are commodified into a few recognizable and marketable characteristics that are devoid of the socio‐spatial contexts from which they evolved. La Penang Development Corporation, chargée d'amener Penang au premier rang du développement économique malais, a imaginé Penang en cité vibrante et novatrice. Outre la construction industrielle, le tourisme est encouragé en tant que principal pilier économique. En conséquence, les thèmes Culture, Patrimoine, Mer et soleil, Aventure/Nature et Agro‐tourisme ont été choisis; des lieux attractifs ont été récupérés et adaptés de manière stratégique en fonction de ces thèmes. Sur chacun de ces sites thématiques, des symboles et signes facilitent la consommation du paysage, entretenue par une atmosphère festive à la hauteur des espérances des touristes. Les visiteurs peuvent aussi consommer en toute sécurité des plages exotiques, ‘protégées’ des populations locales. En effet, la vision de Penang en a exclu les habitants, dont les paysages vécus ont été ignorés au profit d'images consommées aisément par les touristes. Les Penangais se sont regroupés contre le Programme de conservation qui, selon eux, favorise le tourisme. Ils veulent défendre leurs droits à l'entretien de la voirie et à l'usage des lieux publics tels que la plage de Batu Ferringhi. L'article illustre la contestation qui naît lorsque des lieux sont banalisés selon quelques caractéristiques identifiables et commercialisables, mais dépourvues du cadre socio‐spatial à partir duquel ils se sont développés.     

The impact of university brand identification and eWOM behaviour on students’ psychological well-being: a multi-group analysis among active and passive social media users

ABSTRACT

Encouraging students to share positive online reviews should not be regarded only as a marketing tool. This study aims to examine (i) the relationship between positive online reviews behaviour for university and students’ well-being; and (ii) the impact of eWOM behaviour on students’ psychological well-being among active (those who share and read information) and passive (those who only read information) social media users. An online survey was conducted to examine the interplay of university brand identification, positive eWOM behaviour, and university life satisfaction on students’ psychological well-being. Results found that students who share positive reviews about university on social media tend to have better psychological health. This study also revealed that active social media users benefit more in terms of well-being through sharing positive online reviews about their universities. Implications for theory and practice of social media marketing in the higher education context are discussed.     

"Ethics and Geography –Impact of Geographical Cultural Differences on Students Ethical Decisions"

Conceptually, entrepreneurship is seen as the engine that drives a robust economy, promotes a favorable quality of life, and assures the availability of the attributes needed for meaningful living. However, like many popular concepts in this world, its limitations are normally not well acknowledged. A grouping of entrepreneurial ventures which has recently come into existence deals with the personal fiscal issues associated with the end-of-life phase of the human cycle. While generally praised as humanitarian services for society, that are assuredly within legal bounds, these activities have potentially significant negative implications. When examined from an ethical perspective, some questionable practices became apparent. Three such undertakings in particular have to do with the terminally ill and are examined in this paper. The first, viatical transactions, is defined as the transfer of a life insurance policy's ownership to someone who does not have an insurable interest in the life of the insured individual. The second, creative tax shelters for wealthy people involved in estate planning, involves hiring unrelated parties, particularly those who are young and in failing health, to do the dying for the principal. The third, mind games, involves curtailing the use of medical resources for the dying. The justification for this is rationing scarce medical resources.     

Boards of Directors’ Self Interest: Expanding for Pay in Corporate Acquisitions?

Director compensation can potentially represent an ethical minefield. When faced with supporting strategic decisions that can lead to an increase in director pay, directors may consider their own interests and not solely those of the shareholders to whom they are legally bound to represent. In such cases, directors essentially become agents, rather than those installed to protect principals (shareholders) from agents. Using acquisitions as a study context, we employ a matched-pair design and find a statistically significant difference in outside director compensation between acquiring and control firms. Outside directors of acquiring firms earn more than twice as much as their counterparts in the matched-sample. S. Trevis Certo is an associate professor and Mays Research Fellow in the Mays Business School at Texas A&M University. He received his Ph.D. in Strategic Management from the Kelley School of Business at Indiana University. His research focuses on corporate governance (boards of directors, ownership structure, and CEO compensation), top management teams, initial public offerings (IPOs), and research methodology. Richard H. Lester is a clinical associate professor and Director of Academic Entrepreneurship Programs in the Mays Business School at Texas A&M University. He received his Ph.D. degree in Strategic Management from the Mays Business School at Texas A&M University. His current research interests focus on corporate governance, upper echelons and entrepreneurship. Catherine M. Dalton holds the David H. Jacobs Chair of Strategic Management in the Kelley School of Business, Indiana University. She also serves as Editor of Business Horizons, as Research Director of the Institute for Corporate Governance, and as a Fellow in the Randall L. Tobias Center for Leadership Excellence. She received her Ph.D. degree in Strategic Management from the Kelley School of Business, Indiana University. Professor Dalton's research is in corporate governance, with particular expertise in board composition, board leadership structure, executive and director compensation, and firms' ownership structures. Her research spans all types of organizations, including entrepreneurial firms, small businesses, large public corporations, and private organizations. Dan R. Dalton is the founding Director of the Institute for Corporate Governance, Dean Emeritus, and the Harold A. Poling Chair of Strategic Management in the Kelley School of Business, Indiana University. He is a Fellow of the Management in the Kelley School of Business, Indiana University. He is a fellow of the Academy of Management and an inaugural member of its Journals Hall of Fame. Professor Dalton is widely published, with over 280 articles in corporate governance, business strategy, law, and ethics. Additionally, his work has been frequently featured in the business and financial press including, Business Week, Wall Street Journal, Fortune, Economist, Financial Times, Boston Globe, Chicago Tribune, Los Angeles Times, New York Times, and the Washington Post. Professor Dalton regularly addresses public, corporate, and industry groups on corporate governance issues.     

Standard Oil and Predatory Pricing: Myth Paralleling Fact

The Supreme Court in 1911, on the occasion of the first major test of the Sherman Act, ordered the dissolution of the Standard Oil Trust. In his 1958 paper John McGee argued that predatory pricing is, in general, irrational and, relying solely on the information in the Trial Record related to that decision, concluded that Standard Oil did not engage in predatory pricing. His paper has had an extraordinary influence on both antitrust policy in the United States and economic lore. This paper documents the breadth and scope of the influence of McGee’s paper and offers several possible explanations for it. We suggest four reasons: (1) the lack of a theoretical challenge for 25 years, (2) the failure of scholars to replicate McGee’s empirical findings, (3) the unique status of the Standard Oil case in the history of American antitrust and (4) the influence of the Chicago School on economic and legal thinking.