Opportunities and institutions: A co-creation story of the king crab industry

If entrepreneurs are constrained and shaped by existing institutions, how? If entrepreneurs products and services, how can institutions remain unchanged? This paper explores this theoretical conundrum empirically through the examination of the actions of entrepreneur Lowell Wakefield. Contrary to previous work that suggests that it is institutional entrepreneurs that bring about institutional change as a means of advancing their social interests, this paper shows that a profit-seeking entrepreneur without prior institutional affiliation or experience can create an opportunity along with the supporting industry standards and regulations.     

Developments in accounting regulation: A synthesis and annotated bibliography of evidence and commentary in the 2009 academic literature

In this article, we synthesize in annotated bibliography form, recent regulation-related findings and commentaries in the academic literature. This annotated bibliography is one in a series of bibliographies that summarizes regulation-related academic research. We reviewed academic outlets such as The Accounting Review, The Journal of Accounting Research, The Journal of Accounting and Economics, Accounting Horizons, The Journal of Accounting, Auditing & Finance, The Journal of Accounting and Public Policy, The Journal of Business, Finance & Accounting, Auditing: A Journal of Practice and Theory, and Research in Accounting Regulation. We annotate results of regulation-related research studies and key points from regulation-related commentaries.     

Writing for the anti-tourist? Imagining the contemporary travel magazine reader as an authentic experience seeker

Contemporary travel magazine feature writing has received little attention in the academic literature to date, despite the fact that these writers have a persuasive power to mediate foreign cultures and destinations and could potentially act as agents of positive social change. In this article, 12 internationally published and distributed contemporary travel magazine articles have been subjected to a critical discourse analysis contributing to the theory of the mediating power of texts with respect to the conceptualization of tourism identities. Two prominent tourism discourses emerge, the tourist-versus-traveller dichotomy and the promise of authentic cultural experiences, which portray both the writer and the imagined reader as an anti-tourist (perhaps denying their contribution to the tourism industry). The findings suggest that these writers have an imagined archetypal anti-tourist reader in mind, who seeks authentic experiences that are immersed in traditional customs. These discourses lead these authors to write sensitively and thoughtfully about foreign cultures, although some still reflect harmful cultural stereotyping and commodification. In general, however, it appears that these contemporary travel writers are heeding the scholarly call for more globally conscious and socially responsible travel writing.     

The greening of music festivals: motivations,barriers and outcomes. Applying the Mair and Jago model

Events are a growing sector, often attracting tourists to destinations. There is increased emphasis on achieving sustainability in event management; some festivals, particularly large outdoor music festivals, are leading in greening their events. This paper explores the drivers of, and barriers to, greening festivals and considers how events might be a vehicle for promoting sustainable behaviour. The application of the Mair and Jago model is tested. Long interviews were conducted with managers of six UK and Australian festivals that have won awards for their “green” performance and an organisation that encourages the greening of festivals. Findings suggest that managers of these festivals act both as a champion and a steward of greening and that the key drivers of festival greening are the personal values or ethos of the manager and/or the organisation, demand for greening from stakeholders and a desire to educate and act as an advocate of green issues. Barriers to greening festivals included the financial costs, lack of time and control over festival venues and the inability to source appropriate suppliers or supplies. Further research could explore these issues in other events contexts and examine whether events leave a lasting legacy in terms of influencing environmental behaviour.     

Diaspora entrepreneurs as institutional change agents: The case of Thamel.com

Diasporans are migrants and their descendants who maintain a relationship to their country of origin (Safran, 1991). Diasporans who establish new ventures in their countries of origin comprise a special case of international ethnic entrepreneurship.In countries of settlement, diasporans confront institutional environments that often are quite different than those that exist in their countries of origin. We refer to the exposure to and adoption of institutional roles and relationships associated with a new cultural setting as “institutional acculturation.”Most extant work in management and marketing focuses on how a migrant's acculturation affects his/her behavior in the new country of residence. We shift the analytical lens to the country of origin. Utilizing a case study from Nepal, we demonstrate how institutional acculturation can inspire a diaspora entrepreneur to transform institutional arrangements in his/her country of origin and generate dramatic change in society's role expectations of the government, suppliers, and buyers.     

Corporate tax cuts,merger activity,and shareholder wealth

We study the impact of the Domestic Production Activities Deduction (DPAD) on mergers and acquisitions. DPAD reduces corporate tax rates on income from work or goods made in the U.S. Results indicate that the quantity and quality of acquisition bids by DPAD-advantaged firms conform to the predictions of the neoclassical theory of the firm and the theory of financial constraints. Specifically, bids, particularly those cash-financed, increase substantially in industries with large DPAD-related tax cuts and for firms with financial constraints. Moreover, DPAD improves acquisition quality where acquirers and targets are likely to generate incremental DPAD tax benefits through their merger.     

Novelty and new firm performance: The case of employment systems in knowledge-intensive service organizations

This paper investigates a question at the core of entrepreneurship research: how does novelty affect new venture performance? We address this question for a type of factor-market innovation deemed critical in the contemporary economy: novelty in employment systems. Our longitudinal study of new firms in a knowledge-intensive service industry shows that the relationship between employment-system novelty and organizational productivity is curvilinear and U-shaped. We also find suggestive evidence that new firms with employment systems exhibiting discrepant degrees of novelty (i.e., combinations of highly conforming and highly novel practices) are less productive than those with coherent employment systems.     

The Methuselah market

In this paper the authors focus on the Methuselah Market, defined as those people within five years of retirement age. Demographic change over the last 100 years has led to a substantial increase in the proportion of the population in the older, near retirement age group. Yet as consumers the needs of this sector of the population have been neglected by marketers. The size, characteristics and potential of the Methuselah Market are discussed, and specific product areas of particular interest to this market are identified. A further paper will be published in the November issue reviewing the decision‐making process of the older consumer and indicating specific marketing strategies relevant to the Methuselah Market.