Sustainability and Capital Markets—Are We There Yet?

The High Meadows Institute issued a report in 2016 called ‘Charting the Future of Capital Markets’ that surveyed the mainstream capital market ecosystem by soliciting the views and practices of its key stakeholders around the issue of long‐term value creation. In this follow‐up report, the authors report that much has changed during the past three years. The role of investors in proactively shaping corporate practices is gaining more attention as ESG issues and responsible investment have become mainstream concerns, as new responsible investment regulations and frameworks have been implemented, and as shifting demographics continue to pressure capital market participants and stakeholders to change their practices. At the same time, the report notes significant remaining challenges. The lack of a standard industry definition and framework for ESG data and reporting on ESG continues to be a significant impediment, as does the shortage of qualified ESG analysts and infrastructure to support true ESG integration. Surveys also suggest most corporate boards have yet to recognize the full significance of ESG integration or its value to the firm.     

Patients’ preferences for the treatment of anxiety and depressive disorders: a systematic review of discrete choice experiments

Abstract

Introduction: Matching available mental health services to patients’ preferences, as well as is possible, may increase patient satisfaction and help increase adherence to certain treatments. This study systematically reviewed discrete-choice experiments (DCEs) on patients’ preferences for treatment of depressive and anxiety disorders and assessed the relative importance of outcome, process and cost attributes to improve the current and future treatment situations.

Methods: A systematic literature review using PubMed, EMBASE and PsychInfo was conducted to retrieve all relevant DCEs published up to 15 April 2019, eliciting patient preferences for treatment of depressive and anxiety disorders. Data were extracted using an extraction sheet, and attributes were classified into outcome, process and cost attributes. The relative importance of each attribute category was then assessed, and studies were evaluated according to their reporting quality, using validated checklists.

Results: A total of 11 studies were identified for qualitative analysis. All studies received an aggregate score of 4 on the five-point PREFS checklist (Purpose, Respondents, Explanation, Findings and Significance). Most attributes were outcome related (52%), followed by process (42%) and cost (6%) attributes. Comparing the attribute categories and summing up the relative importance weights for each category within the studies, process attributes were ranked as most important, followed by cost and outcome attributes.

Conclusions: In this systematic review, heterogeneous results were observed regarding the inclusion and framing of different attributes across studies. Overall, patients considered process and cost attributes to be more important than outcome attributes. Outcomes and process are important for patients, and thus clinicians should be particularly aware of this and take patients’ preferences into account, although the attribute importance may depend on chosen attributes and related levels.     

Reaching for global in the Japanese cosmetics industry, 1951 to 2015: the case of Shiseido

This article examines the various factors that have shaped the internationalisation of the Japanese cosmetics industry over six decades of economic transformation from 1951 to 2015. Whilst Japanese cosmetics companies have expanded overseas, their focus has largely been in Asia. This article advances a multifactorial explanation that analyses a number of factors that led to regionalisation, including foreign consumers’ perception of Japan, managerial perceptions and strategies toward export markets, as well as the challenges pertaining to cross-border mergers and acquisitions activities by Japanese firms. Using Shiseido as the case example, the article offers a highly-textured account rooted in an understanding of the evolving historical setting, cautions against simple explanations and extends previous discussions concerning the reasons behind the regional orientation of the Japanese cosmetics industry.     

Retail space invaders: when employees’ invasion of customer space increases purchase intentions

This research fills a gap in the retailing literature regarding physical proximity while shopping. Most research in this area examines perceived crowding or social presence and largely ignores issues of distance. Using four studies we explore the impact of the physical proximity of an employee to a shopper. Contrary to common belief, we show that such encroachments can increase consumers’ acceptance feelings and their purchase intentions. We illustrate how these results are consistent with social identity theory. The results show a shopper can have higher purchase intentions the closer an employee physically gets to them due to an increase in feelings of acceptance. This result is strengthened when being included to an in-group is important to the shopper. The negative effects of feeling anxious in a purchase situation can also be buffered the closer an employee gets. Finally, the positive relationship of felt acceptance to purchase intentions is most critical when the product being purchased is perceived as less expressive. These results have important implications to our understanding of shopper behavior and reactions to physical proximity.     

Developing relationships in innovation clusters

ABSTRACT

This study assesses the composition of micro-level behaviours embedded within innovation clusters. Drawing on network theory of innovation, we examine the relational complexities of a specific university-business form of clustered exchange to characterise the actor level behaviours that influence the breadth and spread of network involvement. Whilst some current research posits behavioural attributes of clustered networks, there have been few studies that have focused on the extent of influence that individuals have on the development of value creating relationships, the roles individuals play and the various factors that have the potential to impact their effectiveness. This conceptual development study provides insights into the actor-level behavioural features that play a central role in promoting the innovation effectiveness of these regions. The findings of this three year long ethnographic study suggest that in the face of resource constraints individuals act as agents in creating and sourcing external input for the benefit of their projects. This has implications for policy-makers as well, as our findings suggests that policies should be shaped to provide enabling factors for boundary-spanning, thus allowing relationships to be equipped with the ability to manage complex partner contexts to access the benefits of diversity.     

Chronic illness medication compliance: a liminal and contextual consumer journey

Journal of the Academy of Marketing Science - The consumer journey has drawn interest from marketers as an avenue to strengthen sales through managing touchpoints. However, a firm-centric view has...     

When the Former CEO Stays on Board: The Role of the Predecessor’s Board Retention for Product Innovation in Family Firms

Understanding product innovation in family firms is an important research endeavor given the economic predominance of those firms, their idiosyncrasies, and the importance of constant renewal for those firms to achieve transgenerational survival. Recently, family firm research has highlighted the role of next-generation chief executive officers (CEOs; i.e., successors) who are often seen as drivers for innovating a family firm’s products. However, prior research has typically neglected that predecessors, who are often portrayed as less willing to introduce product innovation, frequently remain involved postsuccession through occupying board positions and thus still substantially influence the decision-making processes and outcomes of family firms, such as product innovation. As a result, our understanding of the role of predecessors and their postsuccession involvement in family firms’ product innovation remains unclear. Building on stakeholder salience theory and on insights from the literature on innovation and succession in family firms, we develop hypotheses about how and under which conditions the predecessor’s board retention affects product innovation in family firms after succession. Building on more than 200 family firm CEO succession cases in small- and medium-sized, privately owned family firms, our results reveal that the predecessor’s board retention negatively affects product innovation. This negative effect is strengthened with increasing involvement of the predecessor in the successor selection process, and it is offset in the case of family succession. Our findings contribute to the emerging stream of research on family firm succession and product innovation and provide important implications for practice.     

Asian adspend: a review of its development & future prospects

Asian advertising markets have experienced rapid growth over the last decade. Adspend almost doubled between 1987 and 1996. The region contains markets at very different stages of development: Japanese adspend in 1996 was over US$36 billion—the second highest in the world—but in contrast adspend in Bangladesh was just US$4 million. The current economic difficulties will harm the advertising industry but Asia's vast potential remains and the outlook is bright.     

Gender Effects of Trade Openness in Sub-Saharan Africa

ABSTRACT

More than thirty years into the modern era of globalization, scholars are now in a position to evaluate the distributive effects of the policy shifts that have led to greater economic integration. One region of the world for which little robust empirical evidence exists on gendered employment effects is Sub-Saharan Africa (SSA). To identify whether there is an impact of economic and trade structure on women's relative access to work, this contribution empirically explores these issues for thirty-eight SSA countries, and for two subgroups. Panel data for the period 1991–2010 is examined using fixed effects, random effects and two-stage least-squares estimation techniques. Findings suggest that trade liberalization has gendered employment effects, with the direction depending on the structure of the economy. However, the more robust finding is that a country's infrastructure has played a determining role in gendered labor market outcomes in SSA since the early 1990s.