From Publishers to Self-Publishing: Disruptive Effects in the Book Industry

Abstract

This paper explores the structure of the book publishing industry post digitalisation, analysing the choices of the publishers and authors. The introduction of successful e-book readers has belatedly given digitalisation the characteristics of a disruptive technology by making self-publishing a serious option for authors. This has been supported by the entry of new types of intermediaries and the strengthening of others. These changes have reduced the general requirements for an author to get a book self-published. As a result, a larger share of the surplus from the book industry is likely to go to authors, explaining the significant increase in the supply of books. The potential oversupply of books has created a new problem by increasing competition and making consumer searches more difficult. We argue that digitalisation has shifted the potential for market failure from an inadequate supply of books to asymmetric information about quality. It remains to be seen whether the market will provide appropriate intermediaries to solve the asymmetric information problem.     

Measuring customer profitability in complex environments: an interdisciplinary contingency framework

Customer profitability measurement is an important element in customer relationship management and a lever for enhanced marketing accountability. Two distinct measurement approaches have emerged in the marketing literature: Customer Lifetime Value (CLV) and Customer Profitability Analysis (CPA). Myriad models have been demonstrated within these two approaches across industries. However, limited efforts have been made to explain when sophisticated CLV or CPA models will be most useful. This paper explores the advantages and limitations of sophisticated CLV and CPA models and proposes that the degree of sophistication deployed when implementing customer profitability measurement models is determined by the type of complexity encountered in firms’ customer environments. This gives rise to a contingency framework for customer profitability measurement model selection and five research propositions. Additionally, the framework provides design and implementation guidance for managers seeking to implement customer profitability measurement models for resource allocation purposes.     

The Performance of a Project Life Cycle Methodology in Practice

In a deliberate attempt to shift the analytical focus away from critical examination of the underlying ideological assumptions of project management standards, this study focuses on the performativity of a specific project life cycle methodology. Through a case study, the article analyzes the effects and usages of the methodology in practice. This article proposes to think of project methodologies as fluid objects, creating shifting and adaptable relationships between methodology and practice.     

Nonparametric cointegration analysis of fractional systems with unknown integration orders

In this paper a nonparametric variance ratio testing approach is proposed for determining the cointegration rank in fractionally integrated systems. The test statistic is easily calculated without prior knowledge of the integration order of the data, the strength of the cointegrating relations, or the cointegration vector(s). The latter property makes it easier to implement than regression-based approaches, especially when examining relationships between several variables with possibly multiple cointegrating vectors. Since the test is nonparametric, it does not require the specification of a particular model and is invariant to short-run dynamics. Nor does it require the choice of any smoothing parameters that change the test statistic without being reflected in the asymptotic distribution. Furthermore, a consistent estimator of the cointegration space can be obtained from the procedure. The asymptotic distribution theory for the proposed test is non-standard but easily tabulated or simulated. Monte Carlo simulations demonstrate excellent finite sample properties, even rivaling those of well-specified parametric tests. The proposed methodology is applied to the term structure of interest rates, where, contrary to both fractional- and integer-based parametric approaches, evidence in favor of the expectations hypothesis is found using the nonparametric approach.     

Boards of directors in SMEs: a review and research agenda

This paper aims at reviewing research and presenting a research agenda on boards of directors in SMEs. While most publications about boards in SMEs focus on the lack of research in the area, this paper presents some of the work that has been conducted. Publications on boards of directors during the 1990s in outlets for SME research are reviewed. Boards of directors in small and medium-sized companies are getting increased attention, but the knowledge about boards in such companies is still fragmented. This paper presents research challenges based on a holistic model of directorates in SMEs that is elaborated from previous research about directorates. The papers selected for this special issue on boards of directors in SMEs are presented in this framework.     

Utilitarianism and risk

Abstract

In day-to-day life, we are continuously exposed to different kinds of risk. Unfortunately, avoiding risk can often come at societal or individual costs. Hence, an important task within risk management is deciding how much it can be justified to expose members of society to risk x in order to avoid societal and individual costs y – and vice versa. We can refer to this as the task of setting an acceptable risk threshold. Judging whether a risk threshold is justified requires normative reasoning about what levels of risk exposure that are permissible. One such prominent normative theory is utilitarianism. According to utilitarians, the preferred risk threshold is the one that yields more utility for the most people compared to alternative risk thresholds. In this paper, I investigate whether and the extent to which utilitarian theory can be used to normatively ground a particular risk threshold in this way. In particular, I argue that there are (at least) seven different utilitarian approaches to setting an acceptable risk threshold. I discuss each of these approaches in turn and argue that neither can satisfactorily ground an acceptable risk threshold.     

Less Livestock in North-western Europe? Discourses and Drivers Behind Livestock Buyout Policies

Direct intervention in the size of livestock numbers is not considered a main option in European agri-environmental policies nor in policy studies. Nevertheless, the governments of the Netherlands and Flanders (Belgium) have announced livestock buyout schemes. This article contributes to the scarce literature on this policy instrument by sketching the characteristics of different types of buyout schemes. We analyse how the issue of reducing livestock numbers is being framed in four EU Member States with high livestock dense regions: the Netherlands, Belgium (Flanders), Denmark and Germany. While the debate on ‘technology versus volume’ can be observed in all four countries, the ‘nitrogen crises’ in the first two has led to a reframing of concerns over livestock numbers in relation to place-based deterioration of habitats and the possibility of granting permits for new economic activities, rather than as a global issue of mitigating climate change. Pre-existing institutional frameworks influence the introduction and design of new buyout policies. In the context of high political pressure, existing policies to close down farms were reinforced and nutrient emission rights systems offered the opportunity to take production rights out of the market. Notwithstanding the policies and available budgets, the issue of direct intervention to reduce livestock numbers remains controversial.     

IMAGINING A DECOLONIZED CITY IN AND FROM AOTEAROA NEW ZEALAND

Imagining decolonized cities creates space to explore how urban places could strip away colonial dominance and restore the ability of Indigenous people to live, know and be. In this essay, we describe one attempt to create such space. While working in Porirua in Aotearoa New Zealand, we ran an urban design competition, hosted workshops with young people and held a symposium. Through all three phases we drew on utopian thinking to imagine beyond the current constraints of urban form in Aotearoa New Zealand to consider how cities might reflect the diverse realities of Māori. While this approach is an attempt at generating hopeful geographies, it also sat in tension with (post)colonial realities, such as racist attempts by white people to claim Indigeneity, and the ongoing need for land to be returned to Indigenous people. We argue that envisioning how cities might be decolonized is useful and needs to be rooted in the particular politics of place, but this imagining needs to be paired with action to confront persistent colonialism.     

The red queen in organizational evolution

We propose that competitive success and failure evolve through an ecology of organizational learning. An organization facing competition is likely to engage in a search for ways to improve performance. When successful, this search results in learning that is likely to increase the organization's competitive strength, which in turn triggers learning in its rivals—consequently making them stronger competitors and so again triggering learning in the first organization. We elaborate the conditions under which this self-reinforcing process, known in evolutionary theory as the ‘Red Queen,’ is likely to be adaptive or maladaptive. Adaptive consequences are predicted only for recently experienced learning. Experience in the more distant past of an organization's life, by contrast, is predicted to backfire into a ‘competency trap.’ We predict maladaptive consequences when organizations face many, varied cohorts of rivals. We empirically distinguish these effects using ecological models of competition. Estimates of organizational failure rales reveal a Red Queen among Illinois banks, and support our predictions.