Taking time to understand theory

Purpose of the paper and literature addressedThe purpose of this paper is to examine how one of the most cited theories in sociology, structuration theory, might help inform our understanding of time in business networks. Structuration theory deals with the creation and maintenance of ideas and structures as well as with change and continuity processes. It defines a social system as any set of practices, patterns of interaction and social relationships that are relatively enduring.Research methodThis is a conceptual paper.Main contributionThis paper outlines improved theoretical and methodological bases in industrial marketing research, which specifically takes into consideration time. This new understanding draws upon Giddens structuration theory, and more recent critiques of his work.     

The performance implications of power–trust relationship: The moderating role of commitment in the supplier–retailer relationship

The current research examines how coercive power and non-coercive power affect trust and how these relationships are affected by affective and calculative commitment. It also expands the understanding of the role of an under-researched dimension of performance, i.e., strategic performance, and studies it as a mediating variable in the relationship between trust and financial performance. The proposed model is empirically tested using Partial Least Squares (PLS) in supplier–retailer channel in Taiwan. The findings reveal that affective commitment has a positive moderating effect on the negative relationship between coercive power and trust, while calculative commitment has a negative moderating effect on the positive relationship between non-coercive power and trust. The results also indicate that strategic performance partially mediates the effect of trust on financial performance. The research advances theoretical understanding on the complex power–trust relationship and provides insights into the role of commitment in both enabling and undermining channel relationships. The findings highlight the importance of building affective commitment in channel relationships and the critical role of strategic performance in the trust–financial performance relationship.     

Islam and Human Rights: A Growing Rapprochement?

Can Islamic thought provide a basis for a fully developed theory of human rights? This article begins with an examination of the tensions between religion in general and the secular framing of the Universal Declaration of Human Rights (UDHR). From a historical perspective, it then delves into the history of the relationship between Muslim political and religious leaders and the UDHR. With that background in mind, the author analyzes the positions of three influential Muslim scholars on human rights: Khaled Abou El Fadl's emphasis on ethics and law; Abdulaziz Sachedina's recent book Islam and the Challenge of Human Rights (2009), in which he urges the traditionalists to develop a “public theology”; and finally, Abdullahi An‐Na'im's focus on shari'a and the secular state. He concludes that the majority of Muslims worldwide remain more conservative than these authors, and yet they overwhelmingly support the notion of human rights. This bodes well for the growing influence of such reformist thinking and, as a result, for the retooling of traditional Islamic jurisprudence in addressing human rights.     

Towards a social economy, or is it a “third sector”?

Peter Welch and Malcolm Coles, 1994: Towards a Social Economy -Trading for a Social Purpose. London: Fabian Society, Fabian Pamphlet 564, £3.50 paper.

Roger Spear, Aude Leonetti and Alan Thomas, 1994: Third Sector Care: Prospects for Co-operatives and other Small Care Providers. Milton Keynes: Open University.

Perri 6 and Isabel Vidal (eds) 1994: Delivering Welfare: Repositioning Non-profit and Co-operative Action in Western European Welfare States. Barcelona: Centre d'Iniciatives de l'Economia Social.     

Tax loss selling and the contrarian investment strategy

Tax loss selling is examined as a possible explanation for the long term price reversal patterns associated with the contrarian investment strategy. Our empirical results are consistent with a tax effect. When we adjust for size and potential tax loss selling, the abnormally high returns previously found in January are eliminated. These results suggest that short term tax effects are associated with the longer term overreaction or contrarian hypothesis, and at this point cannot be dismissed.     

Further evidence of the November effect

Tax-loss selling by individuals has long been thought to be a major factor driving the January effect. The Tax Reform Act of 1986 changed the tax-year end for mutual funds to October 31 and increased the marginal tax rate, creating a natural experiment allowing Bhabra, Dhillon, and Ramirez (1999) to empirically test the tax-selling hypothesis. They find empirical support for a postact November effect. However, a second paper by Gibson, Safieddine, and Titman (2000) finds empirical support for the November effect in only one post-act year, 1990. In this article, we respecify betas, calculate holding period returns over each tax year, construct portfolios with large, differences in mutual fund ownership, and test for the presence of a bid-ask spread bias. The empirical results offer evidence of a November effect but only in the first week of November.