EU‐China Collaboration in the Reform of the International Monetary System: Much Ado About Nothing?

The global financial crisis has shown that the current international monetary system (IMS) suffers from an inherent flaw: it depends on US current account deficits for the provision of global liquidity. Under this arrangement, peripheral countries have to accept periodically the debasement of the US dollar. Thus, there are some mutual incentives for the EU and China to reform the current IMS through cooperation. Both are in favour of stable exchange rates, and both are keen to constrain US macroeconomic profligacy. There have been some efforts towards these objectives in the past, especially during the French presidency of the G20 in 2011. However, there has been no significant progress. On the European side, there is not a united and independent Europe which could act as the primary agent of reform. On the Chinese side, Beijing does not see Europe as a reliable partner because the latter is deemed to have a major vested interest in the current regime. As a result, the French government failed to focus the world's attention on the reform of the IMS during G20 Cannes Summit, and the Chinese government has chosen a more unilateral way to internationalise its own currency.     

The carbon‐conscious‐consumer? A causal model for the product carbon footprint of asparagus at the consumer stage

Tools to measure climate impacts, such as a product carbon footprinting (PCF), have gained increasing attention in recent years. Our study shows that it is possible to develop a valid structural equation model for a PCF for the example of the use phase of asparagus on the basis of empirical data generated by a panel survey. The parameters considered in the model are environmental and sustainability‐related attitudes, sociodemographics and a technical component. The results show that the age of the technical component has effect on the PCF, an older technical component having an increasing impact, while a high degree of environmental concern has a decreasing effect.     

Cash,credit, or phone? An empirical study on the adoption of mobile payments in the United States

The purpose of this study is to investigate the effects of consumer factors on behavioral intention to adopt mobile payments. We focus on the proximity mobile payment, which is made feasible by the near-field communications (NFCs) technology. Building upon the theory of reasoned action and technology acceptance model (TAM), a behavioral intention model was established consisting of enhanced cognitive antecedents as well as affective and social antecedents. Cognitive antecedents encompass the factors including relative advantage, perceived usefulness and ease of use in the TAM, and technology characteristics (e.g., responsiveness and mobility); affective antecedents focus on positive and negative emotions associated with using NFC mobile payments. Both antecedents are expected to affect attitudes. In addition, social antecedents examine subjective norms and the influence of network externalities. Data were collected from 394 adult nonusers of NFC mobile payments in the United States via an online survey. The research model was tested using structural equation modeling. The results showed that all three antecedents significantly affected individual consumers’ intention to adopt NFC mobile payments, explaining a significant amount of variance. Both theoretical and marketing implications are discussed in the context of NFC mobile payments.     

Go green: how to influence the perceived effectiveness of a green product?

Across two studies, this research elucidates on which green messages in advertising are most effective in influencing the perceived effectiveness of green products by examining the moderating role of environmental consciousness. This study further considers a mechanism underlying the interaction between green messages and environmental consciousness on brand attitude with the perceived effectiveness of green products. The results show that when environmentally conscious individuals are exposed to abstract and distant temporal messages, they will report greater perceptions of a green product's effectiveness and brand attitude than for concrete and proximal temporal messages. In contrast, less environmentally conscious respondents will not have different responses to the abstract/concrete and distant/proximal temporal messages. Furthermore, the perceived effectiveness of a green product mediates the interaction between green messages and environmental consciousness for predicting brand attitudes. With an understanding of how environmentally conscious individuals evaluate green advertising, marketers can better understand how to promote their green products more effectively.     

Partial or total integration in a cross‐border merger? Building a Nordic bank culture

The rate of failure for international mergers and acquisitions (M&As) is exceptionally high, since the integration of merging firms does not function well. Using a process perspective, this study aims to analyze the integration process in a cross‐border merger and the development of a common organizational culture. A framework based on premerger cultural and organizational fit, synergy, and resulting organizational culture is developed to study the growth of Nordea, a merger of four Nordic banks. Data include in‐depth interviews and secondary sources. This case study shows how cultural and managerial differences are dealt with and synergies realized. Building a broad organizational culture involving human resource management, decision making, technology, competitiveness, and customer relationships is necessary for merger integration, but it is costly and difficult. We suggest that success in mergers lies in managers creating a new cultural identity with unique values and perspectives.     

Free Trade Areas in East Asia: Discriminatory or Non‐discriminatory?

The debates on regional trade arrangements in East Asia focus on whether the RTAs can be net trade creating or diverting, and whether they impede multilateral trade liberalisation or not. This paper attempts to answer these questions by quantitatively estimating the economic impact of possible East Asian free trade areas based on a bilateral gravity model, and evaluating the main characteristics of the proposed FTAs. We find that the trade creation effect expected from the proposed East Asian FTAs such as a China‐Japan‐Korea or an ASEAN plus three (China, Japan, Korea) FTA will be significant enough to overwhelm the trade diversion effect. We also judge that East Asian FTAs will likely be a building block for a global free trade.     

What's in a logo? The impact of complex visual cues in equity crowdfunding

Visual cues are pervasive on crowdfunding platforms. However, whether and how low validity visual cues can impact the behavior of backers remains largely unknown. In this article, we propose a disfluency-based heuristic framework for understanding the influence of low validity visual cues on equity crowdfunding platforms. Drawing on processing fluency theory and visual heuristics, we propose that backers often automatically process visual cues, and that the subjective experience of ease/difficulty with which backers perceptually process low validity visual cues serves as a heuristic and informs their perceptions of early-stage entrepreneurial ventures. We test our propositions focusing on logos (low validity visual cues that are particularly salient and ubiquitous on equity crowdfunding platforms) and logo complexity (a fundamental characteristic of logo design and established antecedent of processing disfluency). We contend that logo complexity can be interpreted by backers as a signal of venture innovativeness because more (vs. less) complex logos are more difficult to process, and thus, feel less familiar and more unique, original, and novel to backers. Since backers often value innovativeness, we further contend that logo complexity can positively impact backers' funding decisions. We find support for our framework and propositions using a multimethod approach comprising three studies: one survey, one field study, and one experiment. Theoretical contributions and managerial implications are also discussed.     

Why Hurry? The Slow Process of High Growth in Women‐Owned Businesses in a Resource‐Scarce Context

This article critically uncovers how embeddedness within a resource‐scarce context influences high‐growth women’s entrepreneurship. Research suggests that though highly embedded women entrepreneurs can easily access resources and attain legitimacy, resulting in high‐growth businesses, they can also become locked into existing systems that constrain their growth development paths. Using 16 qualitative cases developed in Cameroon, we unpack and resolve this paradox by analyzing how entrepreneurial path creation by women entrepreneurs enables the realization of growth aspirations. Implications for initiatives to support high‐growth women’s entrepreneurship in resource‐scarce contexts are critically examined.     

Testing the asymmetric effects of exchange rate pass‐through in BRICS countries: Does the state of the economy matter?

This paper investigates not only the question of whether there is exchange rate pass‐through (ERPT) but also the extent to which the pass‐through is asymmetric or state‐dependent in the BRICS countries. Using monthly data from 1999:M1 to 2019:M12 and non‐linear smooth transition vector autoregressive (STVAR) model, our results provide evidence of period‐specific ERPT between the upper and lower regime periods, governed by the selected transition variables. The results further suggest that the pass‐through of exchange rate is higher when the economy is experiencing large appreciations and expansions as well as large depreciations and recessions. Theimplication for these findings is that ERPT is strongly affected by the state of the economy.     

Who Is in Control? The Role of Self‐Perception,Knowledge, and Income in Explaining Consumer Financial Behavior

The current research examines the relationship between consumer financial knowledge, income, and locus of control on financial behavior. Ethnicity is included as a potential moderator of the effects of these three variables on financial behavior. Findings suggest that consumers’ propensity to save, budget, and control spending depends partly on their level of perceived control over outcomes as well as knowledge and financial resources. Evidence of race and ethnicity as moderators is mixed.     

Understanding the flow of health policy in the United States: self-interest or ignorance?

Health policy decisions are made in an uneven manner, eluding attempts to explain developments with a coherent theory. Numerous explanations have been suggested to explain individual policy actions, but recently Feldstein has attempted a broader formulation. This Self-Interest Model of Health Policy, however, assumes full knowledge of a policy's benefits and costs. This is an unrealistic assumption, and the model is unable to explain important decisions that have been made in three areas: insurance for long-term care, universal access, and efficiency incentives. This article presents a broader, more powerful formulation of the Feldstein model, specifically incorporating public ignorance as a policy determinant. The vital role of education and health policy research is underscored.     

Commitment in Marketing Channels: Mitigator or Aggravator of the Effects of Destructive Acts?

This research examines how a firm's relationship commitment influences its extra-role behavior after an intentional destructive act by a partner. The results of two studies – one a national survey of dealers for a consumer durable product and the other a set of three experiments involving business-to-business managers – show that the outcome of a destructive act depends on the type of commitment: whether the commitment is affective, calculative, or normative. Under relational distress caused by a supplier's destructive act, high affective commitment induces more negative extra-role behaviors, high calculative commitment induces more positive extra-role behaviors, while high normative commitment induces little change in extra-role behavior. Process tests indicate that each of these effects on extra-role behavior is explained (mediated) by psychological responses that are distinct for the type of commitment involved.     

Can we find the right balance in cause‐related marketing? Analyzing the boundaries of balance theory in evaluating brand‐cause partnerships

Cause‐related marketing (CRM) refers to the phenomenon where brands partner with causes, such as nonprofit organizations. Consumers may see some CRM partnerships as less compatible than others, however the level of perceived compatibility differs from one consumer to another. We know a great deal about how perceptions of compatibility affect attitude and behavior toward CRM partnerships, but we know less about how to predict a consumer's perception of compatibility. Therefore, our purpose was to investigate the boundaries in which balance theory could be used to make predictions about consumers’ responses to CRM partnerships. This is the first study to consider the construct of attitude strength (vs. attitude alone) when considering balance theory. We found that a consumer's attitude toward a brand, along with their attitude toward a cause, predicts their perceptions of CRM compatibility. We also found that CRM triadic balance could be predicted when attitude strength was included in the models, and that balance theory allowed us to observe preliminary evidence of attitude and attitude strength spillover effects in CRM triads. Practitioners can use these insights to determine which organizations to partner with, as well as determine how advertising these partnerships may affect acceptance of these partnerships.     

Does a money‐is‐all attitude cause alienation? A cross‐cultural comparison of Korea,the US and Sweden

Money is increasingly being attributed more value in society, although a money‐is‐all attitude decreases social relationships and increases alienation in modern, industrialized societies. This research investigated the influence of this money‐is‐all attitude on alienation based on a cross‐cultural comparison of Korea, the US and Sweden. The money‐is‐all attitude was defined as a perspective in which money is regarded as an indicator of achievement or success. Self‐administered online surveys were conducted with consumers ranging between the ages of 20 to 49 in Korea, the US and Sweden. The money‐is‐all attitude and alienation seemed to be more pervasive in Korea than in the US or Sweden. The money‐is‐all attitude was the factor with the strongest influence on alienation when controlling for socio‐demographic factors. Furthermore, participation in sports activities was an important factor in decreasing alienation levels. The findings of this research imply that materialistic ways of thinking increase alienation and that money cannot contribute to human happiness and well‐being. In addition, active participation in social activities can decrease alienation. The research results suggest that a materialistic, money‐is‐all attitude negatively influences alienation across cultures; in addition, in the US, an affluent consumption‐based country, the money‐is‐all attitude had more explanatory power for alienation than in Sweden and Korea. A change in values to overcome the money‐is‐all attitude is required and the concepts of sufficiency and mindfulness are suggested as alternative life perspectives for the pursuit of well‐being.     

Educating for self‐interest or ‐transcendence? An empirical approach to investigating the role of moral competencies in opportunity recognition for sustainable development

Entrepreneurship education with a focus on sustainable development primarily teaches students to develop a profit‐driven mentality. As sustainable development is a value‐oriented and normative concept, the role of individual ethical norms and values in entrepreneurial processes has been receiving increased attention. Therefore, this study addresses the role of moral competence in the process of idea generation for sustainable development. A mixed method design was developed in which would‐be entrepreneurs were subjected to a questionnaire (n = 398) and to real‐life decision‐making processes in a case assignment (n = 96). The results provide stepping stones for implementing (moral) competencies in entrepreneurship education as a possible avenue to move away from a sole focus on a profit‐driven mentality.     

Consumer Bankruptcy: A Right or a Privilege? The Role of the Courts in Establishing Moral Standards of Economic Conduct

The Norwegian Consumer Bankruptcy Act was passed 17 July 1992 to give persons with "serious debt problems (. . .) the possibility to gain control over their economy." The Act contains provisions for negotiations between the debtor and the creditors, for court rulings on repayment plans, and for a discharge of the debts not covered by the plan. The origin of the Act was a social welfare approach to the problem of overindebtedness. However, the Act embodies an inherent contradiction in that it also includes moral elements in order to prevent it from exerting a negative influence on the perceived obligation to pay one's debts. This contradiction has given the courts a wide scope of discretion in the application of the Act. As a result, cases are treated differently in different jurisdictions. Some judges put more emphasis on moral evaluations than others. This situation also gives room for strategic action from creditor groups who typically are repeat players in cases of consumer bankruptcy. In this way the more objective, social welfare approach of the Act is undermined.