Navigating compromise: How founder authenticity affects venture identification amidst organizational hybridity

Founders of hybrid ventures encounter organizational tensions that can compel compromise in both their organizations' and their own personal values. Such compromises may, in turn, undermine founders' identification with their ventures. In a multi-case study analysis we examine why social entrepreneurs differ in their responses to organizational tensions, both at the firm- and individual-level, and how such differences relate to their venture identification. Specifically, our findings reveal that strategic decisions made in the context of values-based complexity are often accompanied by concerns regarding founder authenticity—that is, judgments about the alignment between founders' actions and the commitments or responsibilities associated with their identities as entrepreneurs. Yet, because founders differ in the basis from which they seek to maintain such alignment, these differences shape both hybridity management and subsequent venture identification. By unpacking such differences, our findings contribute new theory, bridging recent scholarship on founder authenticity with longstanding research on organizational identification and hybrid organizing.     

Arbitrage Free Price Bounds for Property Derivatives

Market frictions inhibit the perfect replication of property derivatives, and define the property spread as a price measure in the incomplete real estate market. We identify transaction costs, transaction time, and short sale constraints as the main frictions in this market. Based on these frictions, we set up a framework of arbitrage free price bounds for property derivatives. In turn, we use observed derivative prices to determine the implied cost of the frictions. Lastly, we verify these values by using other research, which confirms the accuracy of our framework.     

Differentiation of the regions of Russia based on level of economic development

Assessments of the level of interregional differences by per capita GRP in current and constant prices are presented in the article. The tendencies of inequality in economic development of the regions of Russia in 1990–2013 have been studied.     

Coupled Hydrological/Hydraulic Modelling of River Restoration Impacts and Floodplain Hydrodynamics

Channelization and embankment of rivers has led to major ecological degradation of aquatic habitats worldwide. River restoration can be used to restore favourable hydrological conditions for target species or processes. However, the effects of river restoration on hydraulic and hydrological processes are complex and are often difficult to determine because of the long‐term monitoring required before and after restoration works. Our study is based on rarely available, detailed pre‐restoration and post‐restoration hydrological data collected from a wet grassland meadow in Norfolk, UK, and provides important insights into the hydrological effects of river restoration. Groundwater hydrology and climate were monitored from 2007 to 2010. Based on our data, we developed coupled hydrological/hydraulic models of pre‐embankment and post‐embankment conditions using the MIKE‐SHE/MIKE 11 system. Simulated groundwater levels compared well with observed groundwater. Removal of the river embankments resulted in widespread floodplain inundation at high river flows (>1.7 m³ s^?1) and frequent localized flooding at the river edge during smaller events (>0.6 m³ s^?1). Subsequently, groundwater levels were higher and subsurface storage was greater. The restoration had a moderate effect on flood peak attenuation and improved free drainage to the river. Our results suggest that embankment removal can increase river–floodplain hydrological connectivity to form a more natural wetland ecotone, driven by frequent localized flood disturbance. This has important implications for the planning and management of river restoration projects that aim to enhance floodwater storage, floodplain species composition and biogeochemical cycling of nutrients. © 2016 The Authors. River Research and Applications Published by John Wiley & Sons Ltd.     

Capital in the Twenty-First Century: Reinterpreting the fundamental contradiction of capitalism

At a theoretical level this article discusses Piketty’s hypothesis that the distribution of income and wealth tends to become more concentrated over time when the rate of return on capital is greater than the growth rate of real output. We develop a post Keynesian model of growth and distribution showing that once capital is differentiated from wealth, the increase in income and wealth concentration actually occurs when the rate of valorization of financial and real estate assets is greater than the growth rate of real output, and that this situation may be triggered by financial liberalization.     

Implementing the European “Floods Directive”: the Case of the Po River Basin

The European “Floods Directive” 2007/60/EC (FD) asks Member States to develop flood risk maps on the bases of most appropriate and advanced tools, with particular attention on limiting required economic efforts. The question arises on how these tools should be selected so as to supply all the knowledge that is required to develop Flood Risk Management Plans (FRMPs). By analysing the implementation of the FD in the Po River Basin (Italy), the paper describes and compares two different approaches for flood risk assessment: the expert driven-qualitative approach vs. the quantitative approach based on damage models. The comparison shows, as expected, that quantitative approaches supply more useful knowledge for the development of FRMPs (and for flood risk management in general) with respect to qualitative approaches. However, they still present limits which prevent their adoption without critically consider the peculiarities of the investigated area in terms of available knowledge on hazard, exposure and vulnerability. Accordingly, considerations are supplied on how effectiveness of quantitative approaches can be maximized, towards flood risk management objectives.     

Mediating effect of creativity between breadth of knowledge and innovation

Several previous studies have investigated the effects of creativity and knowledge on innovation, both of them being considered prerequisites of innovation. However, the relationship among the different variables can be confusing due to redundant causality. In this paper, we study the influence of the mediating effect of creativity between breadth of knowledge (diverse sources of knowledge) and innovation by developing a conceptual model, and then test it on the Spanish ceramic cluster of Castellón. Empirical findings show that creativity is the mechanism through which the different sources of knowledge influence innovation. The implications of these results in relation to creativity, knowledge and innovation theory and practices are discussed.     

Collective self-governance in a marine community: expedition cruise tourism at Svalbard

Collective self-governance is gaining attention in the literature for maintaining the quality of key attractions and promoting sustainable tourism. The long-term success of collective self-governance is dependent on both its internal organization and its embeddedness in external state and non-state regulations. This paper presents the marine community concept, consisting of a policy and a user community, as a framework for investigating the internal and external dynamics of collective self-governance and its ability to steer toward sustainable cruise tourism. As methodology, a case study design was chosen which was primarily studied by means of interviews with a spectrum of relevant actors concerning expedition cruise tourism at Svalbard. By applying the marine community to Svalbard expedition cruise tourism governance, we draw the following conclusions: (1) collective self-governance complements governmental regulation through access to knowledge, conflict resolution and rule-compliance based on disclosure, traceability and trust; (2) collective self-governance's increasing role in the policy community alienates the expedition crew from the user community; and (3) informational overflow by co-existence of collective self-governance and state-governance challenges sustainable cruise tourism. Collective self-governance would, therefore, benefit from reflection, especially regarding the role of the user community that functions as an intermediary between state and self-governance regulations.     

Testing for the bivariate Poisson distribution

This paper studies goodness-of-fit tests for the bivariate Poisson distribution. Specifically, we propose and study several Cramér–von Mises type tests based on the empirical probability generating function. They are consistent against fixed alternatives for adequate choices of the weight function involved in their definition. They are also able to detect local alternatives converging to the null at a certain rate. The bootstrap can be used to consistently estimate the null distribution of the test statistics. A simulation study investigates the goodness of the bootstrap approximation and compares their powers for finite sample sizes. Extensions for testing goodness-of-fit for the multivariate Poisson distribution are also discussed.     

Non-monetary sales promotion effects on credit cards

This study fills an important gap in the literature by exploring the effects of the attractiveness of a non-monetary promotion with premiums on credit card purchase intention and brand selection. Two experimental studies involving 386 undergraduates were done. Non-monetary sales promotions with attractive premiums have a positive influence on the credit card purchase intention, compared to non-monetary sales promotions with unattractive premiums. On brand choice, non-monetary sales promotions with attractive premiums increase the likelihood of brand choice promoted. Premiums attractiveness is an important variable in the evaluation of a promotional offer that aims to increase the intention purchase and motivate the selection of brand. This study helps managers in choosing the types of premiums that are valued by consumers in a promotion. Most of the studies explore monetary promotions, while this study contributes to literature by exploring the gap about the effects of non-monetary sales promotions on purchase intention and brand selection, especially in the bank services environment.