ROBUST FUNDAMENTAL THEOREM FOR CONTINUOUS PROCESSES

We study a continuous‐time financial market with continuous price processes under model uncertainty, modeled via a family of possible physical measures. A robust notion of no‐arbitrage of the first kind is introduced; it postulates that a nonnegative, nonvanishing claim cannot be superhedged for free by using simple trading strategies. Our first main result is a version of the fundamental theorem of asset pricing: holds if and only if every admits a martingale measure that is equivalent up to a certain lifetime. The second main result provides the existence of optimal superhedging strategies for general contingent claims and a representation of the superhedging price in terms of martingale measures.     

Family farmers' strategies to develop autonomy through agroecological and solidarity economy practices: The case of BioVida in the Ecuadorian Andes

Considering the global restructuring affecting agrarian landscapes, we build on the concept of autonomy proposed by van der Ploeg and colleagues (but extended and critically complemented) to analyse how family farmers can build this autonomy to face rural capitalist tendencies and maintain their activities and identity. We offer insights from a case study in the Ecuadorian Andes, the BioVida organization that is linked to agroecological and social and solidarity economy movements. Our findings show that family farming autonomy is not being achieved homogeneously for the whole household but must be analysed through an intersectional approach. Furthermore, there are simultaneous processes to achieve different degrees of autonomy and (inter-)dependency, which are co-constitutive along gender and age lines and are conditioned by structural constraints. Therefore, for our case study area, agribusiness and family farming processes and spaces seem to operate co-constitutively rather than antagonistically in practical terms. Agroecology-based achievements so far act as a localized buffer against adversity rather than an emancipative territorial project of autonomy.     

Strategic business marketing developments in the New Europe: Retrospect and prospect

The unification of Europe is causing considerable effects on industrial marketing strategy. Roughly ten years ago the Industrial Marketing Management journal published a study on the expected consequences of the European Union (EU) single market. In the current study, we investigate the actual results of the single market formation on industrial marketing in the EU and compare them to the expectations noted by industrial marketers a decade earlier. We find that the effects differ markedly from those anticipated and that they have important implications for business marketing practice in the EU.     

Market orientation and new-to-the-world products: Exploring the moderating effects of innovativeness, competitive strength, and environmental forces

Recently, there has been a keen research interest in exploring the relationship between market orientation and new product development. The empirical results, however, are mixed, and this means that we do not fully understand these linkages. Furthermore, research concerning the antecedents of new-to-the-world products has focused on the study of a single product. However, it is of obvious interest for organizations to understand what drives a firm's overall performance in the exercise of developing very innovative products. In this empirical study, the authors take a component-wise approach to investigate the effects of market orientation in new-to-the-world product innovation, and examine how other variables interplay with market orientation to affect product development. Firstly, the findings show that both customer and competitor orientations, together with interfunctional coordination, are important drivers of a firm's new-to-the-world product innovation. Secondly, the results indicate that the components of market orientation are differentially moderated by a firm's innovativeness, competitive strength, and also by environmental forces.     

The changing role of science in the innovation process: From Queen to Cinderella?

An overview of how the role of science in relation to innovation has been defined over the past five decades is given, showing a change from a linear to a chain-linked model of interpretation. A third analytical grid, leading to a new model is proposed, summarizing the current research on the nature of economically useful knowledge, the diversity of intervening players in learning and the outcomes of innovation. While the chain-linked view surpassed the linear model by emphasising that science is part of the process but not necessarily the initiating step, we need today to explicitly acknowledge the multi-player dimension of innovation and the wider institutional setting where distinct forms of learning take place. The reason is simple: almost all high added value products embody elements of scientific knowledge. But science is only one of a plurality of other sources of knowledge that induce innovation-based growth. More attention should also be given to understanding markets and organisations.     

Information technology as a determinant of organizational learning and technological distinctive competencies

This study aims to assess the role played by information technology (IT) in organizational learning (OL) considered as a process of knowledge creation and determined by the interaction of stocks and flows variables. We also examine how IT and OL influence both business performance and the development of the technological distinctive competencies (TDCs), as well as the latter's influence on leading the firm towards better outcomes. These relationships have been tested via an empirical analysis carried out with a sample of 140 industrial companies, applying a structural equation linear model according to the Partial Least Squares (PLS) methodology. Our findings allow us to confirm that IT acts as an enabler of the OL process and influences on the development of TDCs, which allow the achievement of a better business performance. Such competencies are also the result of OL, thus demonstrating the influences of them both on perceived organizational performance.