Value in business and industrial marketing: Past,present, and future

This article offers an overview of research on the ‘value’ that businesses and industrial marketers analyze, create, and deliver. First, value literature (up to and around 2005 and post 2005) is discussed. This review highlights the changes in our notions of value and helps to identify seven areas for consideration that should drive future research: value proposition, relationship form, capabilities management, value metrics, temporal horizon, innovation imperative, and tactical focus. Following this depiction of value analysis, value creation, and value delivery, we present a process model for value orchestration in business and industrial marketing. Three activities collectively form the basis of value orchestration, namely structuring activities, bundling activities, and leveraging of resources.     

Regulating unlawful behavior in the global business environment: The functional integration of sovereignty and multilateralism

This article uses the Convention on Cybercrime as a case study to illustrate the functional integration of international law into diverse national legal systems through the paradigm of treaty harmonization. Nations control the impact of international regulation on domestic business interests by implementing legislation to preserve fundamental rights. Thus, the sovereignty-based legal harmonization model better explains the baseline characteristics of national sovereignty while recognizing that global cooperation in business is a necessary and positive feature of multilateralism.Critics dismiss sovereignty as irrelevant, claiming instead that a “new world order” has emerged in its place. That kind of deconstructionist talk typically injects fear of multilateralism into the global business community. However, the premise is flawed because it ignores the actual mechanics of treaty accession and the synergy between international law and commerce in the global legal environment.     

Grades as incentives

This paper examines how grade incentives affect student learning across a variety of courses at two universities, using for identification the discrete rewards offered by the standard A–F letter-grade system. We develop and test five predictions about the provision of study effort and the distribution of numerical course averages in the presence of the thresholds that separate these discrete rewards. Surprisingly, all are rejected in our data. There is no evidence that exam performance is improved for those students that stand to gain the most from additional study.     

Accounting aggregation: User preferences and decision making

This experiment tests the effects of alternative aggregations of accounting data in a simulated portfolio task. Certain entropy-based aggregation criteria were used to prepare differentially aggregated financial statements for use in the task. Subjects made allocations of initial edowments between hypothetical firms, disclosed confidence in their allocation decisions and reported on specific characteristics of the financial statements. Differences in reported usefulness of statement sets furnished were found to be associated strongly with measured information content. The results also provide limited evidence that decisions and judgments of subjects were affected by the information content of the accounting aggregations provided.     

Equally-distributed equivalent utility,ex post egalitarianism and utilitarianism

We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyi?s impartial observer theorem. For this family of social welfare functions, we show what additional axiom is necessary and sufficient for the observer to exhibit aversion to ex post inequality. We also relate this axiomatization to our axiomatization in a companion paper of generalized utilitarian social welfare functions. Given certain richness assumptions, the only social welfare functions that belong to both families are the utilitarian.     

Of believers,atheists and agnostics: practitioner views on HRM

Using empirical evidence, this article identifies those personnel/HRM practitioners who are convinced of HRM’s existence (‘believers‘), those who are convinced of its non-existence (‘atheists‘) and those who are unsure (‘agnostics‘). It also reveals a significant and positive relationship between membership of the Institute of Personnel and Development and practitioner belief in HRM.     

Race and cesarean delivery in Florida

At a time when the Clinton Administration has set a goal of eliminating racial disparities in health by the year 2010, medical experts are struggling to understand one of the most glaring, and least talked about, disparities of all: death in childbirth. In a study made public this spring, the Centers for Disease Control and Prevention in Atlanta reported that black women in the U.S. were nearly four times as likely to die during delivery, or shortly thereafter, as white women. The disparity, which has remained about the same for the last four decades, holds true even for women who … are middle class and have health insurance. The findings … have renewed interest among scientists and legislators in a problem that many peoole think no longer exists … Dr. David Satcher, the United States Surgeon General, (says) “the disparity is important. In this country, we have a certain standard of expectation about the risk of women dying in pregnancy, and black women are off the scale right now.” (Sheryl Gay Stolberg, “Black Mothers' Mortality Rate Under Scrutiny,” Front Page, 8 Aug. 1999 New York Times)     

Intraday behavior of market depth in a competitive dealer market: A note

This study is the first to examine the intraday behavior of quoted depth in a competitive dealer market. In sharp contrast to previous research that focuses on specialist markets, quoted depth is lowest at the open of trading, plateaus around the middle of the day, and then dramatically increases in the final hours of trading, peaking at the close. This peak in quoted depth coincides with a narrowing in bid‐ask spreads, and is contrary to intraday patterns documented for specialist markets. The authors conclude that the increase in depth and narrowing of bid‐ask spreads at the close is driven by dealers rebalancing inventories to achieve target inventory levels in a competitive market. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28:294–307, 2008