Conceptualising Globalisation A Symposium for the World Economy

This paper discusses a central element in globalisation debate little addressed by economists, namely the interactions at global, national and community levels between globalisation and societally based values. Social values refer to wider notions of collective identity; religious values, attitudes towards materialism, moral beliefs, and a sense of collective awareness and are a broader and more encompassing concept than social capital discussed in recent economics and sociology literature. Social capital relates to trust, honesty and the social fabric of accepted norms central to the successful implementation of individual optimising decisions and denotes a communal asset reflecting strength of joint collective commitment whose amount can be increased or improved upon through investment of time and resources. Social values are much discussed in sociological literature going back to Comte, Durkheim, Parsons, and others. The issues taken up here are how different social values might interact and change as societies and their economies integrate (globalise). Processes of value competition, displacement and joint assimilation occur naturally to economists, but seem little studied by sociologists who seemingly place less stress on analytical comparative statics. Scenarios for how values can interact under globalisation are discussed in the text.     

Learning in retail entry

Retailers may face uncertainty about the profitability of local markets, which provide opportunities for learning when making entry decisions. To quantify these informational benefits, I develop an empirical framework for studying dynamic retail entry with uncertainty and learning (from others). Using novel data about fast food chains, I estimate the model with a forward simulation estimation approach augmented with particle filtering as a way to flexibly account for unobserved firm beliefs about market profitability. The estimates confirm the presence of uncertainty and learning. Most importantly, simulations using the estimated model demonstrate that learning from others may indeed help mitigate some of the uncertainty.     

Business Education,Values and Beliefs

The study was concerned with values, value systems and the beliefs of business students from a wide variety of cultural backgrounds. The study of values and values education in western societies is clearly different from the approach to a study of Asian values advocated by Lee Kuan Yew. We talk about integrity, idealism, honesty, fairness, altuism, justice, equity, freedom, but can we expect overseas students from different cultural backgrounds to have the same understanding of these concepts as students who have been raised in western society?

     

Competitive judgments in a business simulation: A comparison between American and Chinese business students

A complex total business enterprise computer simulation was used as the setting for a study of judgments by Chinese and American business school students. The subjects were asked to make a series of decisions and give judgments about expected levels of competition for a new market opportunity in the simulation world. Decisions were compared across the groups based on the decision structure and content. The results confirm previous research as the American participants generated significantly more responses overall, and especially judgment-consistent responses than the Chinese participants. Analysis of the content of the decision representations found that the relative proportion of singular to distributional information in the responses was similar for both American and Chinese individuals when making decisions about their own teams, but the Chinese participants focused more heavily on distributional information when making judgments about the behavior of others. This implies that American and Chinese individuals focus on different aspects of similar information and this may influence subsequent judgments. © 1998 John Wiley & Sons, Inc.     

Can Anticipating Time Pressure Reduce the Likelihood of Unethical Behaviour Occurring?

Academic integrity (AI) violations on college campuses continue to be a significant concern that draws public attention. Even though AI has been the subject of numerous studies offering explanations and recommendations, academic dishonesty persists. Consequently, this has rekindled interest in understanding AI behavior and its influencers. This paper focuses on the AI violations of plagiarism and sharing homework for freshman business students, examining the factors that influence a student’s intention to plagiarize or share homework with others. Using a sample of more than 1300 freshman business students over 2 years, we modeled intent to plagiarize and intent to share homework using factors in the Theory of Planned Behavior in addition to past violation behavior and moral obligation (feelings of guilt). Based on the results of this study, attitude, perceived behavioral control, subjective norm, and in addition past behavior and moral obligation, were found to significantly influence an individual’s intention to violate academic integrity (for plagiarism and sharing homework when asked not to do so), explaining 33 and 35 % of the variance in intention to commit an AI violation for sharing homework and plagiarism, respectively. These results contribute to a better understanding of individuals’ motivations for plagiarizing and sharing homework, which is a necessary step toward reducing academic integrity violations.     

Consumers' Punishment and Rewarding Process via Purchasing Behavior

While there have been many studies of the ethical behavior ofmanagers, little research investigated the ethical beliefs andideologies of consumers. Moreover, even less is known about therelationship between consumer beliefs and ideology and purchasingbehavior. The present study investigates the extent to whichconsumers punish or reward what they perceive as either a firm'sethical or unethical behavior. The research model was tested onsamples of Israeli and Turkish respondents. The results indicatethat personal economic benefit, ideology (idealism versusrelativism), economic cost to others and locus of control explainconsumer reaction to ethical, purchasing dilemmas. Moralexpectations did not influence whether a consumer would purchasein a store offering an unethical proposition. Apparently,material gain, if large enough, outweighs one's moralpredisposition. Idealists were found to be less likely topurchase in an unethical store situation. The Turkish respondentswere more concerned with economic cost to others than the Israelirespondents, apparently owing to cultural differences between thetwo groups. Finally, those respondents having higher internallocus of control were found to be more ethical.     

Does money matter?: Wealth attainment as the motive for initiating growth-oriented technology ventures

The desire to attain personal wealth has long been regarded as the foremost motive for entrepreneurship. Other goals and values, however, may also contribute to entrepreneurial motivation. Thus, the extent to which money matters relative to other motives is an empirical question. In this study we examine the role of wealth as the motive for the decision to found new ventures. Three focal questions guide our research: 1) does money matter more relative to other decision dimensions in deciding to start a new high-technology venture? 2) does money matter more to entrepreneurs compared to non-entrepreneurs? and 3) does money matter in absolute terms, that is, does a decision model that focuses solely on the motive of wealth attainment parsimoniously predict entrepreneurs' start-up decisions?We conducted in-depth interviews with 51 entrepreneurs and a control group of 28 senior managers who decided not to start ventures (non-entrepreneurs) in the high-technology industry in British Columbia to address our research questions. The motives we examined are wealth attainment and an aggregate of other dimensions identified by entrepreneurs and managers. We considered three components of values: participants' ratings of the importance of various decision dimensions, their rating of the salience of these dimensions, and their satisfaction with prior levels of attainment on those decision dimensions. We assessed beliefs as participants' perceived probability of attaining their desired level of a particular decision dimension in each of three alternatives: the position held at the time the venture decision was made, the venture itself, and the next best career alternative at that time. The data were analyzed to compare entrepreneurs' values and beliefs regarding wealth with an aggregate of other decision dimensions (our relative hypotheses), and with those of non-entrepreneurs (our comparative hypotheses).Our findings do not support the common perception that money is the only, or even the most important, motive for entrepreneurs' decisions to start new ventures. Wealth attainment was significantly less important to entrepreneurs relative to an aggregate of 10 other decision dimensions, and entrepreneurs did not rate wealth as any more important than did non-entrepreneurs. Non-entrepreneurs rated wealth as no more important than other motives. Wealth attainment was also significantly less salient to entrepreneurs' decisions to venture than were other motives. Non-entrepreneurs reported that wealth was significantly more salient to their decision against founding a venture than other dimensions. In fact, non-entrepreneurs rated wealth attainment as significantly more salient to their decision against founding than entrepreneurs rated it for their decision to proceed with starting a high-technology business. A significant number of entrepreneurs started businesses even when they believed that doing so offered them a lower probability of obtaining their most desired level of wealth than did one of their other alternatives.Satisfaction ratings and stated beliefs also dispute classical predictions. Just prior to making the decision to venture, the entrepreneurs in our study were as satisfied with wealth as they were with other decision dimensions. The non-entrepreneurs were actually more satisfied with wealth attainment than with other dimensions. A comparison of the groups revealed no difference in satisfaction with wealth attainment levels. Entrepreneurs did believe that their chances of attaining their desired level of wealth were much greater through founding a new high-technology venture than through their other alternatives. This difference in beliefs, however, was not significantly greater than their optimistic beliefs about chances of attaining desired levels of other dimensions. It was significantly higher compared to the non-entrepreneurs' belief difference measures for wealth. In fact, the entrepreneurs' stated beliefs regarding the chances of attaining their desired levels of all dimensions were higher than those of the non-entrepreneurs, suggesting that entrepreneurs were simply more optimistic at the time of their decision than non-entrepreneurs.Salience findings suggest that these optimistic beliefs about wealth did not motivate the founding decision alone.We can distinguish those people who successfully started ventures by their regard for wealth as a less salient factor, and their beliefs in higher chances of a venture producing monetary and other returns. Other motives, such as innovation, vision, independence, and challenge were more important and much more salient to this sample of entrepreneurs.Our findings have implications for practice, teaching, and research. Venture capitalists who partially base their assessment of entrepreneurs on the extent to which they are motivated to make a great deal of money may benefit from reconsideration of this criterion. We have evidence of one group of high-technology entrepreneurs who achieved success without placing much decision weight on attainment of personal wealth. Nascent entrepreneurs and those who teach entrepreneurship can use this empirical finding to argue two main points: 1) not all entrepreneurs found a business for personal wealth reasons, and 2) one need not be motivated by personal wealth attainment to be a successful entrepreneur. Similarly, theoretical models that assume money is the primary motive for entrepreneurial activity require re-examination. Future research in entrepreneurship should focus less on wealth attainment and more on other motives for the venturing decision. A multiple-attribute decision model may be able to more fully explain venturing decisions.     

Comparing employment interviews in Latin America with other countries

This study compares job interviews (n = 11,667) in Mexico with those in the following countries: Belgium, Russia, Taiwan, and the U.S. The findings support our hypotheses, which are based on a meta-cultural framework. The results reveal that in Mexico and Taiwan women are less likely to conduct interviews. In addition, interviewers asked different questions. Outside the U.S., interviewers asked applicants about their family, marital status, and children. In Russia and Taiwan, they asked about applicants' reasons for quitting their last job. In Belgium, Russia, and Taiwan, they asked about applicants' wage and salary expectations. In Belgium and Russia, they less often asked about applicants' values, opinions, and beliefs. This study suggests that in some countries employment interviews are more than a test of job-related knowledge, skills, and abilities. This report provides a taxonomy that is useful for comparing interview questions in Latin American and other countries as well as directions for future research.     

It’s a Matter of Principle: The Role of Personal Values in Investment Decisions

We investigate the role of personal values in an investment decision in a controlled experimental setting. Participants were asked to choose an investment in a bond issued by a tobacco company or a bond issued by a non-tobacco company that offered an equal or sometimes lower yield. We then surveyed the participants regarding their feelings toward tobacco use to determine whether these values influenced their investment decision. Using factor analysis, we identified investment- and tobacco-related dimensions on which participants’ responses tended to load. Two of these factors, relating to the societal impact of investment decisions and the health effects of tobacco, were highly significant in determining whether participants selected a tobacco or non-tobacco related investment. More importantly, we found that when the rate of return on a tobacco-related investment exceeds the rate of return on an investment not involving tobacco by 1%, the intensity of participant concerns about the societal effects of their investment decisions was especially important in determining investment choices. This finding indicates that traditional wealth-maximization approaches, which do not consider the personal values of the investor, omit an important factor that affects investment decisions.     

The Moderating Effect of Supervisor’s Behavioral Integrity on the Relationship between Regulatory Focus and Impression Management

The desire to control how others see us is a ubiquitous phenomenon. Decades of research have suggested that the results associated with how others see us are too great an influence to ignore. The tactics we use and behaviors we engage in to control how others see us is known as impression management. This study examines the relationship between regulatory focus and the use of exemplification or supplication impression management tactics. We use regulatory focus theory to examine this phenomenon. First, we investigate the main effects that occur between prevention-focused individuals and exemplification, and between promotion-focused individuals and exemplification and supplication. We then introduce supervisor behavioral integrity as a moderator between regulatory focus and impression management. Our findings suggest a positive relationship between prevention-focused and exemplification, and between promotion-focused and exemplification and supplication. We also find that behavioral integrity strengthens the relationship between prevention-focused and exemplification and promotion-focused and supplication, but not promotion-focused and exemplification. Implications and future research directions are discussed.     

Perceptions of High Integrity Can Persist After Deception: How Implicit Beliefs Moderate Trust Erosion

Scholars have assumed that trust is fragile: difficult to build and easily broken. We demonstrate, however, that in some cases trust is surprisingly robust—even when harmful deception is revealed, some individuals maintain high levels of trust in the deceiver. In this paper, we describe how implicit theories moderate the harmful effects of revealed deception on a key component of trust: perceptions of integrity. In a negotiation context, we show that people who hold incremental theories (beliefs that negotiating abilities are malleable) reduce perceptions of their counterpart’s integrity after they learn that they were deceived, whereas people who hold entity theories (beliefs that negotiators’ characteristics and abilities are fixed) maintain their first impressions after learning that they were deceived. Implicit theories influenced how targets interpreted evidence of deception. Individuals with incremental theories encoded revealed deception as an ethical violation; individuals with entity theories did not. These findings highlight the importance of implicit beliefs in understanding how trust changes over time.     

Constructing Image-Based Culture Definitions Using Metaphors: Impact of a Cross-Cultural Immersive Experience

This study provides an approach to teaching and learning in the international business (IB) classroom about cultural values, beliefs, attitudes, and norms through the study of cultural metaphor. The methodology is based on established qualitative methods by using participants’ visual pictures and written explanations—representative of their initial perspectives of another culture—as units of analysis. Prior to and after a cross-cultural immersion experience in China, students are asked to contribute a tangible visual image of their impression of Chinese culture and briefly write about it. Upon their return, students are once again asked to submit another image of culture along with an additional written explanation in order to explicate their further understanding of culture’s role in cross-border interactions. Findings point to the increased capacity to construct redefinitions of culture based upon their experiences. They also reveal a glimpse into the ideas, imaginings, and attitudes of students as they attempt to make sense of unfamiliar world views, practices, and norms in light of the increasing interconnection in our world.     

Marketers' Norms and Personal Values: An Empirical Study of Marketing Professionals

This study explores the relationships among marketers' deontological norms and their personal values. Based on the review of theoretical works in the area of marketing, hypotheses concerning the relationships among marketers' norms and their personal values were developed and tested. Data were collected from 249 marketing professionals. Results from canonical correlation analysis generally indicate that marketers' norms can be partly explained by personal values. Marketers' pricing and distribution norms, information and contract norms, and norms pertaining to marketers' honesty and integrity were significantly related to the personal values emphasizing "excitement," "warm relationships with others," "fun and enjoyment in life," and "a sense of accomplishment."     

Translating Environmental Ideologies into Action: The Amplifying Role of Commitment to Beliefs

Consumers do not always follow their ideological beliefs about the need to engage in environmentally friendly (EF) consumption. We propose that Commitment to Beliefs (CTB)—the general tendency to follow one’s value-based beliefs—can help identify who is most likely to follow their environmental ideologies. We predicted that CTB would amplify the effect of beliefs prescribing environmental stewardship (e.g., new ecological paradigm), or neglect (e.g., economic system-justification), on corresponding intentions, behavior, and purchasing decisions. In two studies, CTB amplified the positive and negative effects of relevant EF ideologies on EF purchase decisions (Study 1), and consumption and conservation attitudes, intentions, as well as future behavior (Study 2). In each study, only people with higher levels of CTB demonstrated the most ideologically consistent consumption and conservation intentions and behavior. These findings clarify who is most likely to align their decisions and lifestyles according to their sustainable consumption ideologies. The amplification effect of CTB, and the CTB variable itself, present new contributions to consumer behavior research and the domains of sustainable or ethical consumption in particular and offer wide-ranging potential for marketing practitioners and researchers.     

De-Fusing Organizational Power Using Anonymity and Cognitive Factions in a Participative Strategic Planning Setting

When an organization is facing disruptive change or the need for new capabilities to fit new conditions, the creation of a democratic strategic plan can be useful. However, strategic plans typically only reflect the beliefs and values of their architects; not all stakeholders. To include the beliefs of all stakeholders requires a participative environment. Due to the potential deleterious effects that organizational power may have in a participative setting, anonymity and cognitive factions is proposed to reduce the possible negative effects associated with power in a participative strategic planning setting. Group support systems have been shown to protect relationships and retain the social order in these settings. In this specific case, through the use of a group support system that supports anonymity and cognitive faction identification, we found that the sources of power typically found and used to drive group decisions in an academic setting did not drive the content of the strategic plan.     

The relationship between trusting beliefs and Web site loyalty: The moderating role of consumer motives and flow

This research (1) examines how specific consumer motives (i.e., goal‐directed: searching for information, experiential: browsing for recreation) influence the trusting belief–loyalty relationship at a Web site in a distinct manner and (2) investigates how the online flow experience in each of the motive states strengthens or weakens the trusting belief–loyalty relationship. The results suggest that for consumers with an experiential motive, benevolence‐ and integrity‐related beliefs are the key drivers of loyalty, while ability‐related beliefs do not drive loyalty. On the other hand, for consumers with a goal‐directed motive, the ability‐ and integrity‐related beliefs are the key drivers of loyalty, while benevolence‐related beliefs are not influential. Further, this research illustrates that when consumers with an experiential motive experience a high level of flow, the impact of trusting beliefs on loyalty weakens. However, for consumers with a goal‐directed motive, trusting beliefs continue to exert the same impact on loyalty across both high and low levels of flow. ©2010 Wiley Periodicals, Inc.     

The Promise of a Managerial Values Approach to Corporate Philanthropy

This article presents an alternative rationale for corporate philanthropy based on managerial values of benevolence and integrity. On the one hand, top managers with benevolence and integrity values are more likely to spread their intrinsic concern for others into the wider society in the form of corporate philanthropy. On the other hand, top managers high in benevolence and integrity are likely to contribute to improved managerial credibility and trusting firm-stakeholder relationships, thereby improving corporate financial performance. Therefore, the article makes the argument that both corporate philanthropy and corporate financial performance can better be interpreted as resulting from managers’ benevolence and integrity values. Jaepil Choi is an Assistant Professor at the Hong Kong University of Science and Technology. His research is focused on organizational justice perceptions, leadership, work-family interface issues, and corporate social performance. He has published in Academy of Management Journal, Journal of International Business Studies, Journal of Organizational Behavior, Leadership Quarterly, Administration & Society, and Management and Organization Review. Heli Wang is currently an Assistant Professor in strategic management at the Hong Kong University of Science and Technology. Her areas of interests are in the resource-based view of the firm, stakeholder incentives, risk management and social performance. She has previously published in Academy of Management Review, Journal of Economic Behavior and Organization, Journal of Applied Psychology, and Long Range Planning.     

The Development of a Virtue Ethics Scale

Drawing on conceptual works by Murphy (1999) and Solomon (1999), we develop a virtue ethics scale. Other ethics scales, which are grounded in deontological and teleological principles, may be used to classify people according to their beliefs about (1) the criteria they use to make ethical decisions, or (2) the ethicality of those decisions. We suggest augmenting these scales with our virtue ethics scale, which may be used to classify people according to their beliefs about the virtuous qualities of businesspeople.     

Putting American Pragmatism to Work in the Classroom

The pragmatic inquiry process used in the Corporantes Pathfinder Notebook (CPN) enables students and others to discern their gifts, find purpose and direction in their lives, and seek a FIT between their values and various corporate cultures before making extensive commitments in their field of studies and their employment. Based on Peirce's theory of Pragmatism the CPN fosters investigation, interpretation, and action resulting from reflected narratives written in response to a series of questions in the CPN. The CPN was used successfully as a framework in a Business Ethics course for connecting career decisions to their personal lives. Other pedagogic activities were used such as case studies, role playing, service learning, team projects investigating ethical climates of corporations, as well as Socratic questioning and discussions of moral dilemmas to develop ethical sensitivity and understanding of ethical challenges and decisions. The CPN also has been used successfully by senior executives in over fifty applications.