Communities in a world of open systems

In the past, communities tended to be closed systems with relatively clear boundaries, stable memberships, and few linkages to other communities. We are now entering into an ‘age of open systems.' Mobility creates new communities and kinds of communities. The impacts of mobility are far less than those of information and communications technology. Cyberspace has become a new kind of social terrain, crowded with ‘virtual communities.' Television and radio create communities of people thinking and talking about the same things. Both mobility and the growth of communications networks reduce the predominance of geography as a force in shaping community. Many communities are much more fluid, and some are placeless. There are many different kinds of social groups and networks that people describe with the word ‘community.' Most people are multi-community individuals, with many memberships, and many kinds of memberships. Although the world's major religions still have some historic identification with specific regions, those geographic attachments are no longer as clear as they once were, and these religions are tending to become open systems. Some people prefer relatively closed social systems, while others flourish in freer environments. Choice is one of the most powerful forces in the lives of people being exposed to the forces of globalization. Community will continue to be a profound human need but will be redefined, perhaps many times over.     

Correction to: Socio-legal systems and implementation of the Nash solution in Debreu–Hurwicz equilibrium

Review of Economic Design -     

Trade and welfare effects of a potential free trade agreement between Japan and the United States

Review of World Economics - This paper addresses the trade and welfare implications of a bilateral trade agreement between the U.S. and Japan. In 2019, the two countries signed a “stage...     

Dividend imputation taxes and the curious case of a price premium between BHP and Billiton American depositary receipts

BHP Group was formed in 2001 when the Broken Hill Proprietary Company Limited in Australia merged with the Anglo–Dutch Billiton Plc in the UK to form a dual−listed company. The American Depositary Receipts (ADRs) for BHP and Billiton trade on the NYSE, and despite these two securities having exactly the same voting rights and US dollar denominated dividends, the BHP ADR generally sells at a premium to the Billiton ADR, though that premium has considerable time−series variation. We investigate whether differences in the imputation tax systems that apply to dividends in Australia and the UK help explain the time series variation in the premium of the ADR prices. Our results confirm that imputation tax differences are a significant determinant of the premium. Our paper hence provides direct evidence that imputation tax credits are capitalised into equity prices.     

The impact of lay beliefs about AI on adoption of algorithmic advice

Marketing Letters - There is little research on how consumers decide whether they want to use algorithmic advice or not. In this research, we show that consumers’ lay beliefs about artificial...     

From Bachelier to Dupire via optimal transport

Finance and Stochastics - Famously, mathematical finance was started by Bachelier in his 1900 PhD thesis where – among many other achievements – he also provided a formal derivation of...     

Corporate social responsibility projects: critical success factors for better performance of Brazilian companies and guidelines to qualify professionals and entrepreneurs

Corporate Social Responsibility is a reality for businesses and can be understood through the analysis of organizational actions in three areas, namely: economic, social and environmental. Its operationalization occurs through projects, and cases presented by the literature can greatly contribute to the definition of factors that lead these projects to success. Generally, professionals and entrepreneurs have good qualifications in traditional aspects of project management, but when they need to manage Corporate Social Responsibility projects doubts arise. In this context, the main objective of this study was to analyse the most impactful Critical Success Factors for Corporate Social Responsibility projects, considering Brazilian companies’ context, and to propose guidelines to better qualify new professionals and entrepreneurs in the kind of projects mentioned. Thirteen Critical Success Factors were identified in the literature and, through a survey with experienced professionals, it was possible to evidence the six most relevant for Brazilian companies’ context: ability to properly define the scope; ability to integrate the CSR project with the company's strategy; ability to identify stakeholders’ needs; ability to analyse risks; identify and involve stakeholders outside the organization; and grant financial resources to meet project needs. Using the information provided, three guidelines were proposed to better qualify professionals and entrepreneurs. This is an exploratory study that can contribute to potentialize debates on theme.

     

Plastic response to disruptions: Significant redesign of supply chains

A plastic response is a type of resilient response to disruption whereby a supply chain is significantly redesigned. This is in contrast to the most common responses to disruption emphasized in the extant resilience literature, in which restoration of a supply chain to its pre-disruption state is typically the focus. Researching plastic responses is important because they differ greatly from restoration. A plastic response is a new way to operate, thus requiring implementation of major changes to the supply chain. Accordingly, a foundational premise is adopted to characterize a plastic response as (1) a significant redesign, (2) due to a pressing need, (3) requiring most or all of the following: acquisition of new skills, investment in new assets and leadership support, (4) a permanent new way to operate. Additionally, eight propositions are offered to serve as bases for further research. These relate to two fundamental issues: when are plastic responses most likely to be exercised and how to enable plastic responses. The propositions were developed through qualitative data analysis and informed by change management theory. The data were collected from in-depth interviews with global corporations in a variety of industries. Theoretical contributions and managerial implications are offered at the end.     

Online social network fundraising: Threats and potentialities

There has been a growth in online fundraising from crowdfunding apps, like GoFundMe, that propagate fundraising appeals on social networking sites. In the online space, these crowdfunding apps pose a potential threat to the traditional intermediation role of charities. The disintermediation threat is that donors choose crowdfunding intermediaries instead of charities to channel their giving. In this article, we discuss what makes crowdsourced fundraising effective and how charities can adapt to this new dynamic for more effective online fundraising emphasizing two key success factors: brand strength/reputation and managing the donor experience. In addition, we explain the advantages and disadvantages of social media fundraising and giving and propose ways charities can leverage their good reputations and public trust to stimulate reintermediation. Finally, we propose a landscape for future research based on model that emphases the fundraising campaign's ability to stimulate viral sharing within and between online social networks.     

Charity advertising: A literature review and research agenda

The authors present an overview of the academic literature on charity advertising. Through systematically reviewing 63 empirical studies on charity advertising, a synthesis of the body of work is framed in a general model. Predominant antecedents in the charity advertising literature include various appeal tactics and victim portrayals. Research streams on moderators and mediators include various ad characteristics and audience characteristics. The audience's intentions to donate were the most used outcome variable. Recommendations for continuing theoretical advancement in the field are presented. Managerial implications are also presented. This literature review contributes a knowledge base to guide future charity advertising research.