Investigating CSR communication in SMEs: a case study among Danish middle managers

This paper seeks to analyse small‐ and medium‐sized enterprise (SME) managers' representations of corporate social responsibility (CSR) and CSR communication in a corporate communication perspective. The basic question is: how strategic is CSR communication in SMEs? Corporate communication and CSR theories are used to establish an ideal typology of CSR concepts informing an analysis of qualitative data in the form of interviews with three middle managers in two Danish SMEs. A CSR communication model published earlier by the authors is challenged from a SME perspective. Results from an Internet‐based questionnaire survey of 1071 SMEs pave the way for the analysis. Our analysis shows that SME managers clearly have an inside‐out approach to CSR, with a strong emphasis on the internal (corporate culture) dimension. However, SMEs and/or SME managers tend not to communicate externally about the CSR activities of the company. Based on these findings, the paper argues that CSR communication in SMEs is challenged by the global economy and is under revision. The contribution of the paper is to provide an insight into SMEs' present stage in relation to a possible future approach to strategic CSR communication. The paper also reminds us that SMEs have no interest in turning their local and authentic practice into a forced marketing and branding exercise, leaving them with an artificial picture of who they are and strive to be in the future. They should keep on acting locally but force themselves to think globally.     

STOCK MARKET CRASH AND EXPECTATIONS OF AMERICAN HOUSEHOLDS

This paper utilizes data on subjective probabilities to study the impact of the stock market crash of 2008 on households' expectations about the returns on the stock market index. We use data from the Health and Retirement Study that was fielded in February 2008 through February 2009. The effect of the crash is identified from the date of the interview, which is shown to be exogenous to previous stock market expectations. We estimate the effect of the crash on the population average of expected returns, the population average of the uncertainty about returns (subjective standard deviation), and the cross-sectional heterogeneity in expected returns (disagreement). We show estimates from simple reduced-form regressions on probability answers as well as from a more structural model that focuses on the parameters of interest and separates survey noise from relevant heterogeneity. We find a temporary increase in the population average of expectations and uncertainty right after the crash. The effect on cross-sectional heterogeneity is more significant and longer lasting, which implies substantial long-term increase in disagreement. The increase in disagreement is larger among the stockholders, the more informed, and those with higher cognitive capacity, and disagreement co-moves with trading volume and volatility in the market.     

Gatt regulation of countertrade: Issues and prospects

In light of persistent hard currency shortages, an increasing number of countries and firms resort to countertrade. Although this practice has the potential to become a major threat to the world trade framework, it is currently not specifically addressed by the General Agreement on Tariffs and Trade (GATT). From the context of the upcoming international trade negotiations, this article explores the extent to which countertrade practices are, and should be, incorporated into the GATT framework. It analyzes current GATT jurisdiction, presents policy considerations in favor of and against the inclusion of countertrade into the GATT, and addresses practical considerations to be kept in mind during negotiations on this issue.     

Role Theory and the Management of Service Encounters

In this article, the contribution of role theory to our understanding and management of service encounters is highlighted. In the first section of the article the focus on social exchange within role theory is identified and commonalities between relational approaches to marketing and a role theoretical perspective are outlined. Thereafter the article outlines the specific contribution of role theory to our understanding of service encounters. Role theory, it is argued, permits better management of the interactive features of service provider-client interface and a clearer focus on role performance and the interpersonal dimensions of service quality. Role analysis offers both focus on role consistency in service provision and a framework for dealing with the uncertainty and evolution in long term service relationships. In services marketing, role can be incorporated as a factor in successful service performance and form a central framework for good service encounter management.     

The impact of scanning on employment in UK food stores: A preliminary analysis

New technology increasingly is being introduced into retailing at the operational level. One particular example is bar code scanning in food stores. By July 1986 there were 636 shops in the UK with operational scanning systems at point‐of‐sale, and of these 60 per cent were food stores. It has been suggested that scanning checkouts can cause change in employment structures and even job loss. This paper investigates some of the employment implications of laser scanning checkouts in a sample of food stores.     

Challenges for land system science

While considerable progress has been made in understanding land use change, land system science continues to face a number of grand challenges. This paper discusses these challenges with a focus on empirical land system studies, land system modelling and the analysis of future visions of land system change. Contemporary landscapes are contingent outcomes of past and present patterns, processes and decisions. Thus, empirical analysis of past and present land-use change has an important role in providing insights into the socio-economic and ecological processes that shape land use transitions. This is especially important with respect to gradual versus rapid land system dynamics and in understanding changes in land use intensity. Combining the strengths of empirical analysis with multi-scale modelling will lead to new insights into the processes driving land system change. New modelling methods that combine complex systems thinking at a local level with macro-level economic analysis of the land system would reconcile the multi-scale dynamics currently encapsulated in bottom-up and top-down modelling approaches. Developments in land use futures analysis could focus on integrating explorative scenarios that reflect possible outcomes with normative visions that identify desired outcomes. Such an approach would benefit from the broad and in-depth involvement of stakeholders in order to link scientific findings to political and societal decision-making culminating in a set of key choices and consequences. Land system models have an important role in supporting future land use policy, but model outputs require scientific interpretation rather than being presented as predictions. The future of land system science is strongly dependent on the research community's capacity to bring together the elements of research discussed in the paper, via empirical data collection and analysis of observed processes, computer simulation across scale levels and futures analysis of alternative, normative visions through stakeholder engagement.     

What can price volatility tell us about market efficiency? Conditional heteroscedasticity in historical commodity price series

The development in the working of markets has been an important topic in economic history for decades. The volatility of market prices is often used as an indicator of market efficiency in the broadest sense. Yet, the way in which volatility is estimated often makes it difficult to compare price volatility across regions or over time for two reasons. First, if prices are non-stationary, the variance is inflated. Second, the variance of commodity prices contains information on a number of region- and time-specific factors that are not related to market efficiency. Hence, the popular coefficient of variation and related indicators are not adequate measures of the efficiency of markets and are incomparable across regions. As a solution, we suggest using a conditional heteroscedasticity model to estimate the residual (conditional) variance of commodity prices. This measure reflects how markets react to unexpected events and can therefore be seen as a measure of market efficiency. Using this approach on grain prices from the Early Modern Pisa, Paris, Vienna, and Japan, we find that the residual price volatility had declined (and market efficiency increased) in the European markets in the late sixteenth century while it remained stable in Japan.