Demutualization and customer protection at self‐regulatory financial exchanges

In the past decade, many of the world's largest financial exchanges have demutualized, i.e., converted from mutual, not‐for‐profit organizations to publicly‐traded, for‐profit firms. In most cases, these exchanges have substantial responsibilities with respect to enforcing various “trade practice” regulations that protect investors from dishonest agents. We examine how the incentives to enforce such rules change as an exchange demutualizes. In contrast to oft‐stated concerns, we find that, in many circumstances, an exchange that maximizes shareholder (rather than member) income has a greater incentive to aggressively enforce these types of regulations. © 2010 Wiley Periodicals, Inc. Jrl Fut Mark 31:126–164, 2011     

Commitment and Trust as Drivers of Loyalty in Logistics Outsourcing Relationships: Cultural Differences Between the United States and Germany

This study examines differences in loyalty formation within logistics outsourcing relationships between Germany and the United States. A model of loyalty formation on the basis of commitment and trust is developed and differences between Germany and the United States are hypothesized. They are tested based on 795 logistics outsourcing relationships in the two countries using structural equation modeling. The results indicate that these relationships differ depending on cultural traits relating to trust and commitment. The findings are relevant for practitioners and academics as they paint a more globally informed picture of loyalty formation within logistics outsourcing relationships in which to base both managerial decisions and future research.     

UK Retailers and Global Responsibility

The social responsibility of the business community has been widely discussed in the past few years. In retailing terms, it is often defined in terms of a need to behave ethically and to discharge a sectoral responsibility to provide society with the retail facilities it needs. This article argues that retailers could and should consider their responsibilities on a global scale and that their unique relationship with the consumer places them in a position where a major impact could be made on some of the important global issues facing us as we enter the 1990s.     

Building Societies and Strategic Sourcing: Criteria and Dynamics

In the literature of strategic management outsourcing has become recognised as a means to achieve a range of strategic benefits. This article examines the criteria employed by building societies to select and evaluate opportunities for outsourcing. The societies’ sourcing decisions are subject to multiple criteria that, together with a conservative culture, act to limit the use of outsourcing. Case material is used to develop a model of sourcing that relates the processes of evaluation, review and learning to changes in the technological, legal and market environment. Changes in the environment require the societies to retain the ability to monitor; review and possibly reverse sourcing decisions.     

An exploratory study of the management of product replacement

The process of product replacement is a surprisingly neglected area of innovation. Its existence as an important corporate activity is known through prior research and anecdotal evidence. This study was designed to shed some light on the replacement activities which are conducted by large companies in Britain and America. The findings revealed a number of different approaches to product replacement and suggested that related activities can be understood (and measured) by seven distinct dimensions.     

The influence of job characteristics and self‐directed learning orientation on workplace learning

Given the increasing importance of learning at work, we set out to examine the factors which influence workplace learning behaviour. The study investigated the influence of the job characteristics from Karasek's Job Demand Control Support model and the personal characteristic self‐directed learning orientation on workplace learning. A total of 837 workers, aged between 18 and 65, from different sectors and with different educational levels completed a paper questionnaire. Analysis revealed that job demands and self‐directed learning orientation constitute significant and positive predictors of workplace learning behaviour. The study can help organizations to create job structures that promote workplace learning.     

Sundstrand: A Case Study in Transformation of Cultural Ethics

This analysis examines whistleblowing within the context of organizational culture. Several factors which have provided impetus for organizations to emphasize ethical conduct and to encourage internal, rather than external, whistleblowing are identified. Inadequate protection for whistleblowers and statutory enticement for them to report ethical violations externally are discussed. Sundstrand's successful model for cultural change and encouragement of internal whistleblowing is analyzed to show how their model of demonstrating management's commitment to ethical conduct, establishing ethical expectations of employees, training to ensure that employees understand the concepts and expectations, promoting of employee ownership of the program, making the program visible, protecting the whistleblower and undertaking periodic reviews of the program's success may serve as a model for other organizations.