Why Create Value for Others? An Exploration of Social Entrepreneurial Motives

Social entrepreneurs create value for and with target communities in need. This paper responds to calls for research addressing social entrepreneurs’ drive to benefit others. We draw from psychology to augment the understanding of motives in entrepreneurship before conducting a phenomenon‐driven, instrumental case study of social entrepreneurs’ motives. We find some emotions, such as entrepreneurial passion and frustration, lead to self‐oriented motives, while sympathy and empathy are precursors for other‐oriented motivations, such as altruism and social justice. This work provides a theoretical platform for future studies in entrepreneurial motivation that addresses the importance of nonfinancial motives and associated rewards for fostering engagement in the sector.     

The pharmaceutical industry: Towards a new innovation environment

This article examines one facet of changing research alliances between the private and public sector. Consideration ofthe changes occurring within the pharmaceutical industry as a whole and its approach to research and development (R&D) give us some indight into why pharmaceutical companies are are zncreasingly choosing to embark on long-term R&D collaborations with hzgher education establishments. The article suggests possible future directions of alliances and raises questions regarding the implications for industrial and academic research departments izs a result of such collaborations.     

A Note on the Ultimatum Paradox, Bounded Rationality, and Uncertainty

The ultimatum game is a sequential-move bargaining game in which a giver offers a taker a share of a monetary pie. The predicted subgame perfect equilibrium in the ultimatum game is for purely rational givers who act in their own narrow self-interest to offer the smallest possible share of a monetary price, and for purely rational takers to accept. Experimental trials suggest, however, that givers make generous offers because they have a taste for fairness. The analysis presented in this paper argues that it is in the best interest of givers of any type to make offers that will not be rejected, and that offers become more generous as a giver’s uncertainty about the taker’s reservation offer increases.     

Understanding the relationships among brands, consumers, and resellers

This article examines the historical evolution of the relationships among brands, consumers, and resellers in a world increasingly dominated by very large retail organizations with substantial power within the marketing channel. It is widely believed that manufacturers' brands are becoming less important as major retailers are becoming more powerful. This view is based on the mistaken assumption that brands are relationships with consumers, not resellers. Arguments about the decline of brands are often confused with arguments about changes in the brand management function. As major firms redefine their customer as the reseller, not the consumer, there are substantial implications for brand management and the role of the brand manager. Marketing strategy implementation will require increasingly careful coordination of marketing programs with sales strategy to achieve the necessary coordination of reseller- and consumer-targeted communications to maximize the value of the brand to both the retailer and the end user. The reports of my death are greatly exaggerated. —Mark Twain, cablegram, 1897 Frederick E. Webster, Jr., is the Charles Henry Jones Third Century Professor of Management in the Amos Tuck School of Business Administration at Dartmouth College. He is a past executive director of the Marketing Science Institute. He is the author ofMarket-Driven Management and Industrial Marketing Strategy and has contributed a chapter on “The Future Role of Marketing in the Organization” inReflections on the Futures of Marketing, published by the Marketing Science Institute in 1997. He earned his Ph.D. at Stanford University.     

Insolvency law reform in Australia and Singapore: Directors' liability for insolvent trading and wrongful trading

This article compares reforms to directors' liability for insolvent trading in Singapore and in Australia. We analyse the law in these two countries because they are important Asia‐Pacific trading partners and their laws were originally largely the same—Singapore's law on insolvent trading reflected the law in Australia from the 1960s. However, the law in the two countries has now diverged substantially. The comparison of these two countries therefore represents an interesting case study in how countries differ in their approaches to balancing the competing interests evident in laws that impose personal liability on company directors for insolvent trading. Reform of the prohibition against insolvent trading was a focus of Australia's insolvency law reforms in 2017, which led to the introduction of a safe harbour for directors from liability. Singapore's omnibus insolvency law reforms of 2018–19 include amendments to update Singapore's fraudulent and insolvent trading provisions by introducing a concept of “wrongful trading.” The article finds that there are some areas of convergence between these two jurisdictions when it comes to debates about such provisions but concludes that the different contemporary legislative histories in Australia and Singapore have affected their approaches to reform. Reformers in both jurisdictions have attempted to find an appropriate balance between protecting creditors, discouraging director misconduct, and encouraging entrepreneurship and innovation; however, this comparison suggests that the weight that reformers place on creditor protection compared with the concern that excessive personal liability can make directors unduly risk‐averse is influenced by their existing legislative framework and experience of those laws. Although Australia has shifted away from a strict focus on creditor protection, to give directors more opportunities to engage in restructuring, Singapore's amendments may provide a more creditor‐friendly regime.     

Patent examination outcomes and the national treatment principle

One of the principles enshrined in all international patent treaties is that equal treatment should be provided to inventors regardless of their nationality. Little is known about whether this “national treatment” principle is upheld in practice. We analyze whether patent examination outcomes at the European and Japanese patent offices vary systematically by inventor nationality and technology area, using a matched sample of 47,947 patent applications. We find that domestic inventors have a higher likelihood of obtaining a patent grant than foreign inventors and that the positive domestic inventor effect is stronger in areas of technological specialization in the domestic economy.     

Eclipsing: When Celebrities Overshadow the Brand

This paper applies Gestalt psychology and associative network theory to examine the effect of eclipsing in celebrity endorsement on consumer attitude towards the endorsed brand. Eclipsing occurs when the celebrity overshadows the endorsed brand by dominating in an advertisement and diminishing the associative link between the celebrity and endorsed brand. Three studies take into account match‐up, celebrity attachment, brand familiarity, and the moderating role of eclipsing, through manipulating two levels of eclipsing in advertising: (1) high eclipsing, when the celebrity is the focus, and (2) low eclipsing, when both the celebrity and brand are emphasized. Consumers who have a weak attachment to the celebrity endorser report a more positive brand attitude when they see the celebrity and endorsed brand both emphasized in an advertisement (low eclipsing) than when the celebrity overshadows and dominates the brand (high eclipsing), irrespective of whether consumers perceive the celebrity and brand to match or mismatch. For consumers with strong celebrity attachment, high eclipsing enhances brand attitude, regardless of whether they perceive the celebrity and brand to either match or mismatch. The findings of these studies have significant implications for advertisers and brand managers in the execution of their advertisements featuring endorsements.