Pay equity: Equal value to whom?

This paper is an exploration of the concept equal value as it applies to pay equity. Following a brief discussion of several standard objections to pay equity legislation, the paper considers a number of different criteria which are employed in determining equal value or worth. Two in particular are isolated for extended discussion: the desert and the contribution criteria. The paper concludes with a major concern about the phrase equal value to the employer. This concern becomes pressing once the desert and contribution criteria are distinguished. Wil Waluchow is an Assistant Professor of Philosophy at McMaster University. He has published several articles in legal philosophy and ethics and is the co-author of Well and Good: Case Studies in Biomedical Ethics (with J. E. Thomas, 1987) and the co-editor of Business Ethics in Canada (with D. Poff, 1987).     

The educational value of “captive hotels”

Several hotel-management programs operate their own “captive” hospitality facilities for better control of the experiential component of the curriculum. What is the perceived value of those facilities to the industry and to prospective students?     

Shopping trip value: Do stores and products matter?

Previous research indicates the importance of shopping trip value but recognises that consumers do not shop independent of the environment; both products and stores contribute to overall shopping trip value. This study identifies the impact of product and store value on overall shopping trip value and investigates the interrelationship among their utilitarian and hedonic components. In addition, it proposes a store value scale. The authors find empirically that utilitarian store value and performance-related product value have significant effects on utilitarian shopping trip value, whereas hedonic shopping trip value is influenced most by hedonic store value and emotional product value. In addition, women appear more prone to hedonic shopping trip value yet also utilitarian store value, while men were more attentive to utilitarian product value.     

The value of business managers' ‘Information Technology’ competence

This study analyses the role of general managers and their competence in information technologies (ITs) in the integration of these technologies in knowledge-intensive businesses. From a resource-based view, it assesses the effect of managers' IT knowledge and vision on information management in their organizations. It focuses on two knowledge industries: telecommunication and biotechnology, with a final sample of 122 firms. Structural equations are used to assess the data. The findings show that the role of managers goes further than supporting and championing ITs. They are direct key actors in the IT–business integration. For this reason, managers should understand IT potential and information system management in order to combine this knowledge with their unique strategic vision of the business, foreseeing opportunities and needs.     

Collaborative orientation to advance value co-creation in buyer–seller relationships

This study extends the theory of value co-creation by investigating how collaborative orientation advances value co-creation drivers that benefit both buyers and sellers in competitive markets. With direct field research, conducted in a real-life context, the authors interviewed (using a mirrored, semi-structured protocol) buyer–seller respondents at multiple levels in 1 seller and 10 buyer firms. Ten cases developed from these data reflect how buyers and sellers develop value and share resources to advance value co-creation during a formal buyer–seller relationship effort. Our findings suggest four propositions and identify four drivers that may advance value co-creation in buyer–seller relationships: (a) mutual understanding of industry problems through continuous interactions during the relationship period; (b) ability to develop and leverage knowledge and resources; (c) share asset-specific investments; and (d) shared long-term goals. This article extends previous resource-based models and provides novel insights into value co-creation.     

China＇ petroleum, petrochemical output value may surge 15%

Tuha Oil Field, which is owned by China National Petroleum Corp, the country＇s largest integrated oil and gas firm, on Jan. 25 began work on a natural gas project that is expected to add an annual gas output of 250 million cubic meters.     

Cryptopricing: Whence comes the value for cryptocurrencies and NFTs?

This article provides a critical review of pricing issues related to cryptocurrency and NFTs from a marketing perspective and tries to answer the question of whence comes the value for cryptocurrencies and NFTs. It shows that the value for a cryptocurrency like Bitcoin hinges on the collective belief in the marketplace in its long-term survival as a store of value and a unit of exchange. As such, the belief can give rise to a plethora of pricing equilibria for Bitcoin, and it can also be swayed by many demand factors. Consequently, Bitcoin prices will beset with uncertainties and speculations for the foreseeable future and can swing widely and wildly at times. However, the plethora of pricing equilibria also suggests that it is unlikely that Bitcoin may suddenly disappear after its long, successful run so far. In contrast, NFT prices find their value bases not so much in the collective belief in NFTs as a viable product category, although there are many reasons for optimism in that regard, but in the willingness to pay by individuals that depends on many familiar and well-studied factors. This article proposes many pricing-related research questions.     

Internationalization and value orientation of entrepreneurial ventures—a Latin American perspective

Entrepreneurial ventures from Latin American emerging economies are underexplored on the current international entrepreneurship literature. This paper is aimed to contribute empirical evidence on entrepreneurial ventures from Latin American emerging economies and their internationalization and value orientation. Based on the 2009 Global Entrepreneurship Monitor data, we found that institutional voids on Latin American emerging economies were a double-edge sword: on one hand, inefficient and unregulated markets make ventures from Latin American emerging economies encounter the liability of their country of origin; on the other hand, less active governments and absence of influential NGOs alternatively trigger more social entrepreneurial opportunities, with some of them across the national border. Some entrepreneurs from Latin American emerging economies have been active in exploiting those international social opportunities. International social entrepreneurship can be regarded as an alternative solution to social problems which governments, NGOs, or for-profit ventures fail to tackle on Latin American emerging economies.     

Chlna＇s petrochemical output value hits RMB 5.9 trln in Jan-Nov

China saw the total output value of the petrochemical industry decline 3% year on year in the first 11 months of this year to RMB 5.94 trillion, said Feng Shiliang, deputy secretary-general of the China Petroleum and Chemical Industry Association.     

China＇s electronic products industrial added value up 18% in April

China Telecom Corp, the country＇s largest fixed-line operator, said on Monday it＇s set to begin selling Blackberry handsets on its third-generation （3G） network to government and corporate clients in late May.     

Customers’ everyday understanding of ‘value’ from a second-order cybernetic perspective

ABSTRACT

Value is in the centre of service and marketing. However, what does value mean to customers? The purpose of the paper is to contribute to an understanding of value from a customers’ perspective using a second-order cybernetics approach. We found that the word ‘value’ is recursively linked to 13 different ‘meanings’ indicating a variety of understandings of the term ‘value’. Furthermore, the findings support service-dominant logic where customers integrate their own resources (skills and knowledge) in the value co-creation process. Future research has to be aware of the different meanings, which are associated with value. Marketing managers need to understand, on the one hand, that value has a different meaning to their customer and on the other hand, what value means to their specific target groups.     

Do cross-border acquisitions create value? Evidence from overseas acquisitions by Chinese firms

Based on the dynamic capability and organizational learning perspectives, we examine whether acquirers from emerging economies can create value for their shareholders in cross-border mergers and acquisitions, and the key drivers which may influence any such value creation. A sample of 367 cross-border mergers and acquisitions between 2000 and 2011 involving Chinese listed companies as the acquirers was analyzed to highlight the relationship between the cultural distance involved and the acquirers’ market valuation. On average, such cross-border transactions created value for the acquirer's shareholders, but cultural distance was negatively related to the extent of such value creation. Larger firms, more experienced firms, and acquisitions within the same industry were found to be less affected by cultural distance, emphasizing the importance of learning and absorptive capability, but employing a financial advisor did not seem to help. Thus firms with greater absorptive capacity were found better able to overcome the difficulties caused by cultural differences. Implications for research and practice are discussed.     

Does diversification add firm value in emerging economies? Effect of corporate governance

Using 205 Taiwanese firms spanning five years, this research examines how corporate governance factors specific to emerging economies determine the extent of diversification and moderate its performance. The analyses reveal that controlling family ownership is significantly associated with a greater extent of diversification, which impairs firm value. Conversely, domestic bank ownership significantly decreases diversification, which in turn increases diversification performance. These findings present the evidence of controlling family entrenchment through diversification and the significant role domestic banks play in the principal–principal corporate governance framework.     

Robustness of size and value effects in emerging equity markets, 1985–2000

We examine the robustness of size and book-to-market effects in 35 emerging equity markets during 1985–2000. Mean returns for high book-to-market firms significantly exceed mean returns for low book-to-market firms. These findings are robust to tests that control for size effects and that remove extreme returns. Similarly, mean returns for small firms exceed mean returns for large firms. But, the firm size results lack robustness to the removal of extreme returns. Moreover, significant size effects are found in tests that define firm size relative to the local market average, but generally are not found in tests that use absolute firm size. Our findings are confirmed by cross-sectional regressions that control for systematic risk at the global and local levels.     

How outside directors’ human and social capital create value for corporate international investments

Grounded in theories of resource dependence, vicarious and superstitious learning, information processing, and board group literature, this study examines how outside directors’ human and social capital affect the value of corporate foreign direct investments. We employ the event study approach to examine 1210 international investment cases of 836 US firms over a 13-year period. We find significant but distinct non-linear impacts of board members’ human capital (U-shaped effect) and social capital (inverted U-shaped effect). The quality of board capital is also influential, as demonstrated by the effect of directors’ prior foreign investment performance in addition to size and degree of internationalization of interlocked companies. The performance measures of both abnormal announcement returns and operating ROA yield similar results. Our findings highlight the importance of incorporating factors related to board human and social capital for a more comprehensive analysis of the contribution of outside directors to a firm’s international success.     

1 + 1 does not always equal value creation: The case of YouTube

Early services literature and the original service-dominant logic (SDL) work of Vargo and Lush (Journal of Marketing 68(1):1–17, 2004a) have suggested a dyadic customer and company relationship in the value creation process. While extant literature increasingly acknowledges more complex relationships between provider and customer networks to create value, we show that widely used e-services such as YouTube are based on relationships in which such provider and customer roles can vary significantly. However, we also assert that in the case of e-services, value is created primarily between and among customers rather than by the provider, as had been the case in earlier goods-dominant logic literature. Reflecting the research context, this paper seeks to extend various SDL foundational premises to the experience of e-services, discussing their generalizability and concluding with recommendations for further research.     

Tourists’ participation and preference-related belief in co-creating value of experience: a nature-based perspective

We draw theoretical support from the concept of customer participation and cognitive dissonance theory to investigate the moderating effects of the preference-related belief of nature-based tourists, that is, the New Environmental Paradigm (NEP), on relationships between tourist experiential components and outcomes. The responses of 500 visitors to the Yangmingshan National Park, Taiwan indicate that actively participative experiences (APEs)—that is, education and escapism—are more positively related than passively participative experiences (PPEs)—that is, entertainment and esthetics—to pleasure and memorability. Furthermore, tourists’ NEP appears to reinforce the effects of APEs and to weaken the effects of PPEs. We also found that tourists’ NEP has a stronger reinforcing effect than a weakening effect. Our study contributes further evidence to current insights into the importance of tourists’ participation in co-creating value of tourist experiences.     

Seek or destroy? Examining value creation and destruction in behaviour maintenance in social marketing

This article presents an empirical investigation of how behaviour maintenance is supported or hindered through value creation and destruction in social marketing. Using a longitudinal, netnographic approach, we identify and examine the key facilitators and barriers encountered during the maintenance of physical and mental health behaviours. Data were collected over a 12-week observation period via Twitter from a sample of 242 participants. A total of 5212 tweets were analysed using content and thematic analysis facilitated by NVivo software program. The findings identify key barriers to and facilitators of behaviour maintenance at the individual level (downstream), meso level (midstream), and policy level (upstream) that have an influence on value creation and destruction in social marketing. These findings demonstrate the importance of employing a strategic and integrated approach to social change management.