Exchanging good ideas

This paper develops a framework to describe how the existence of technological spillovers leads to a distribution of technology clusters. Marshallian spillovers in this paper are assumed to be due to interaction of labor. The dynamics of cluster size, composition, and technology accumulation are characterized.     

The export intensity of venture capital backed companies

In this study we examine how venture capital (VC) firms influence the export behavior of their investee companies. VC firms perform an important governance function for investee companies by providing monitoring and value-added activities. Drawing on agency theory, the resource-based view of the firm and governance life-cycle theory we hypothesize that the relationship between VC governance resources and investee exporting behavior is moderated by investment stage. Employing a sample of 340 VC-backed firms, our results confirm this hypothesis. Monitoring resources are most effective in promoting export behavior for late-stage ventures and value-added resources in promoting export behavior in early-stage ventures.

Stakeholder Conceptions of Later-Life Consumer Vulnerability in the Financial Services Industry: Beyond Financial Capability?

When the newly re-constituted UK financial services regulator–the Financial Conduct Authority–was launched in 2013, it promised to adopt a new approach to its “consumer protection” objectives. This shift included articulating a new conception of consumer vulnerability, beyond narrow, individualistic, conceptions of vulnerability based on (limited) financial capability, towards a broader conception which takes account of the connection between individual circumstances, situations, and market factors in causing or exacerbating manifestations of consumer vulnerability. Drawing on new empirical research with later-life financial services stakeholders and consumers, this article examines the extent to which equity release stakeholder perceptions of consumer vulnerability align to this new regulatory philosophy, and to the realities of consumer experiences. Our findings indicate that, in contrast to the FCA’s new, broader understanding of consumer vulnerability, the stakeholders in our study tended to understand vulnerability through a narrower lens, focusing predominantly on “information vulnerability,” or on whether or not the consumer “knows what they are doing.” This conception supports the assumption that providing financial advice is sufficient intervention to ensure good consumer outcomes. This assumption is also at odds with our earlier consumer study findings, which revealed a much wider set of vulnerabilities amongst equity release consumers. We reflect on the implications of these findings for the development of the later-life financial services industry, in ways that can more appropriately serve the needs of this consumer population.     

Two Experiments to Test a Model of Herd Behaviour

We carry out two experiments to test a model of herd behaviour based on the work of Banerjee (Quarterly Journal of Economics, CVII, 797–817, 1992). He shows that herding occurs as a result of people observing the actions of others and using this information in their own decision rule. In our experiments herding does not occur as frequently as Banerjee predicts. Contrary to his results, the subjects' behaviour appears to depend on the probabilities of receiving a signal and of this signal being correct. Furthermore, Banerjee finds that the pattern of decision making over a number of rounds of the game is volatile whereas we find that decision making is volatilewithin rounds.     

Modeling the factors affecting rural consumers’ purchase of organic and free-range produce: A case study of consumers’ from the Island of Arran in Scotland,UK

This paper investigates the roles of personal, product related and economic factors in predicting rural consumers’ attitudes and purchase intentions towards organic and free-range produce. A conceptual model is derived and tested via structural equation modeling on a sample of 222 rural consumers. The results show that attitude is explained by consumers’ food safety concern, ethical lifestyle and price perceptions. Attitude partially mediates the effects of ethical lifestyle and price on intention to purchase organic produce as well as the effect of ethical lifestyle on intention to purchase free-range produce. Attitude assumes a more central role in fully mediating the effect of food safety concern on intention to purchase organic produce, as well as the effect of price on intention to purchase free-range produce. Overall the conceptual model of consumer decision making performs well in both organic and free-range contexts yielding similar results.     

Regulatory Multiplicity and Conflict: Towards a Combined Code on Corporate Governance in Nigeria

Given the multiplicity of codes designed to regulate different stakeholders in terms of promoting good corporate governance, this paper examines areas of conflicts among the various codes and the associated implications for corporate governance practices and regulatory compliances by public-listed Nigerian firms. Using the conflict-signalling theory for developing the conceptual framework, this study examines the proliferation of codes in Nigeria, through a mixed method approach to provide an exploratory account of the implications of corporate governance regulatory multiplicity. Evidence suggests the presence of conflict among the various codes which contributes to reduced compliance by firms and ineffective enforceability by regulatory agencies, which both impede good corporate governance in Nigeria. The findings advance conflict-signalling theory as an important framework for understanding the implications of the conflicts arising from the multiplicity of codes.     

Privacy concerns on social networking sites: a longitudinal study

This longitudinal cohort study examines whether privacy concerns have changed on social network sites (SNSs), in particular Myspace/Facebook, as both the users and the medium have matured. Tracking a cohort of 15–17-year olds at three points across an 8-year period, it uses focus groups and self-determination theory to investigate the perceptions of control and vulnerability of 45 participants. The findings suggest that while consumers appear to trust SNSs to protect their private information, they are reluctant to trust advertising or brands on these sites. Over time, users’ autonomy, connectedness and competence have shifted from experimenters, who have nothing to lose, to acceptors who felt their social life was more important than their privacy concerns, to managers who strategically controlled their information in order to reduce their vulnerability.     

Integrating social media within an integrated marketing communication decision-making framework

The reported failure of organisations to successfully implement social media (SM) within marketing communications is likely to result in competitive disadvantage. An exploratory methodology was undertaken to understand implementation challenges of SM. The methodology drew on grounded theory with the in-depth interviews with senior marketers in the first phase of data collection guiding the second phase of data collection. The third phase involved 21 senior marketers completing an online questionnaire which obtained more generalised feedback on the model and identified differences in model application for different SM platforms. The contribution of the study is to propose a sequential decision-making framework for marketers that may help them overcome decision-making uncertainty regarding the choice and implementation of SM platforms.