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This article presents a generalized approach to pricing risk in markets that are subject to information asymmetries. Asymmetric information can result in prohibitive trading costs and prevent the otherwise mutually beneficial exchange of risk. When dealing with risks typically transferred outside the capital markets, the problem of asymmetric information is even more pronounced than with financial risks, even risks priced in less liquid financial markets. A product that immunizes a client against a certain business or insurance event represents a challenge for pricing, as the client has superior information about the risks faced. The authors propose that in an incomplete market, the efficient solution is a dual‐triggered, contingent contract based on “indifference pricing” (i.e. reservation price) of residual variance.

The purpose of this paper is to reflect on the impact of globalisation and productive restructuring in contemporary migration flows in Latin America. It analyses two different movements to/from Latin America: Bolivians in São Paulo and Brazilians in London, seeking to highlight the precarious work conditions of migrants from the region.

The paper uses two interrelated research projects. One focuses on Bolivian workers in São Paulo. It used reference documents, and files from the local press and academic articles to map work dynamics of Bolivian migrants working in sweatshops. The other was conducted in London, where in‐depth interviews and participant observations were conducted with Brazilians working in low‐skilled jobs, to explore motives behind migration and settlement.

There is increasing mobility between different countries that receive immigrants with flexible proposals about constructing “new life projects”. These migrants seek to escape unfavourable living and working conditions, yet an overall perspective of flexible capitalism in its forms of production, distribution and consumption is observable. Both contexts feature precarious employment relationships, with informality, illegality and ethnic social networks being the main elements of attraction and support in host countries. Differences are located in the perspectives of return and settlement, given the different economic situations in England, Brazil and Bolivia.

Sample size does not allow making representative statements or generalisations about Brazilians in London. In addition, it was not possible to get primary data from Bolivians in São Paulo because the clandestine nature of the sweatshops makes it difficult to gain access, and to obtain reliable data.

The paper offers an important departure point to advance discussions about productive restructuring, informality, and Latin American mobilities by addressing the intersections between employment relations, migration and geographical mobility within/from Latin America.

Based on the cognitive bias theory, this study aims to explore the relationship among the size of new ventures, entrepreneurial experience and organizational decentralization.

This study uses 175 entrepreneurial companies in the Bohai Bay Rim as samples. The hypotheses are tested through partial least squares (PLS).

A clear positive relationship is found between size and organizational decentralization, and entrepreneurial experience is found to have a negative effect on this relationship.

The influences of other variables at the organizational level on organizational decentralization are not taken into consideration, and the measurement of entrepreneurial experience is not accurate enough.

This study also has practical implications. Compared with inexperienced entrepreneurs, experienced entrepreneurs do not always have many advantages. Entrepreneurs should decentralize power at the right time in the process of expanding their businesses and continuously reflect and learn, instead of exaggerating their own intelligence, consequently making more rational decisions.

This study has three theoretical implications. First, it provides a theoretical implication for understanding the characteristics of changes in the organizational decentralization of new ventures, which enriches the literature on organizational decentralization in the field of entrepreneurship. Second, it derives theoretical implications for understanding the role of organizational size in organizational development. Third, this study, which applies the cognitive bias theory to assess the effect of entrepreneurial experience, helps supplement existing research on the relationship between entrepreneurial experience and new ventures.

The indigenous Māori culture of New Zealand offers valuable insights for the development of ideas about the concept of asset. To highlight such insights, and to encourage a rethinking, this paper aims to explore the meaning of the closest Māori term to asset, taonga.

The critical review the authors conduct fuses Western literature‐based scholarship with an indigenous scholarly method that utilises oral information and the written literature of Māori scholars who have recognised traditional and scholarly credentials.

Taonga includes a sacred regard for the whole of nature and a belief that resources are gifts from the gods and ancestors for which current generations of Māori are responsible stewards. Taonga emphasises guardianship over ownership, collective and co‐operative rights over individualism, obligations towards future generations, and the need to manage resources sustainably.

The insights offered by Māori culture are beneficial in addressing a range of vexing environmental and social issues in ways that embrace a broader set of principles than those based on individual property rights and economic values.

This article examines the determinants of social equality in the education and healthcare sectors in the 15 post-Soviet states. Focussing on regime type and civil society organisations (CSOs), it argues that countries where liberal principles of democracy are achieved or have a stronger civil society deliver a more equitable social policy.

The empirical analysis rests upon a time-series cross-sectional (TSCS) analysis from 1992 to 2019. Data are collected from the Quality of Government (QoG) Dataset 2020 and the Variates of Democracy (V-DEM) Dataset 2020.

The findings demonstrate that while regime type only partially accounts for social equality, as electoral autocracies do not have more equitable social policy than close regime types and democracy weakly explains equality levels, the strength of CSOs is associated with more equality.

The article challenges dominant approaches that consider electoral democracy to be related to more equal social policy and demonstrates that de-facto free and fair elections do not impinge on social equality, while the strength of liberal and civil liberties and CSOs correlate with more equitable social policy.

The purpose of this paper is to examine the role and contribution of San Martin and Chazuta subnational governments in promoting development and internationalization of the cocoa and chocolate value chain from the stakeholders’ perceptions. This work was based on a qualitative approach in which information triangulation method, information processing with evaluation rubric and WebQDA software were used. The results showed that stakeholders of both value chains perceive that the subnational government’s actions taken to develop and internationalize these value chains are poorly valued and insufficient. Likewise, six internationalization barriers were identified in which two are perceived as the main limitations: low productivity levels and access to innovations and technology. These results contribute to enrich the decision-making process of political authorities and public officials from the San Martin subnational governments. Moreover, they provide information, according to the Peruvian national requirements, on the perceptions needed to rethink and improve the governmental services available, especially productive activities in the rainforest area (Presidencia del Consejo de Ministros, 2015; Wiener Fresco, 2010). This can improve or create new extension services to increase the quality of the Chazuta’s cocoa and chocolate products and to facilitate their entry into more demanding and profitable markets (Shapira, y otros, 2015).

This paper has been developed by using a qualitative approach with an exploratory and descriptive scope. The objective was to examine a study case of how subnational governments contribute in the promotion of development and internationalization of agro-industrial value chains as alternatives to illicit crops (Hernandez, Fernandez, & Baptista, 2010). The Chazuta case was selected because it is representative of the region in terms of coca eradication and is located between two regions of high biodiversity – Cordillera Escalera Regional Conservation Area and Cordillera Azul National Park.

One of the issues hindering the ability of the Chazuta cocoa and chocolate producers is based on their perception that the subnational governments’ efforts are focused on meeting already-established goals and little emphasis is placed on solving productive problems. On the other hand, at an articulation level, the most relevant efforts have been connecting the cocoa and chocolate customers to Chazuta producers through events. In spite of this, such events are not considered a permanent activity and the producers do not perceive that these mechanisms enable them to maintain these long-term trade relationships. This can be explained by the fact that Chazuta cocoa and chocolate organizations recognize that they still have incipient productive capacities to meet the foreign market’s demand. Furthermore, associations, cooperatives and SMEs are not able to maintain constant levels of production quality, except the family-based business. Knowledge and techniques provided by subnational governments and private organizations are not fully used or implemented by the associations’ members. This low level of knowledge application can be explained by cultural factors and also because the producers receive multiple and sometimes contradictory information from various providers of technology extension services. This leads to inadequate use or non-implementation of productivity improvements, thus generating a virtuous circle in which production and quality of the goods remain at low levels, which hinders their entry into demanding and profitable markets.

This paper has been developed with a qualitative approach considering an exploratory and descriptive scope. Chazuta case was selected because it is representative of the region in terms of eradication achievements and it is located between two regions of high biodiversity. A rubric is an evaluation method of individuals or organizations performance, taking into consideration the evaluator’s pre-established criteria to determine if the objectives and goals are being met. Based on these criteria, evidence and performance information is collected. Following, performance is graded based on the researcher’s predetermined criteria and finally a merit-based judgment is made on the performance.

The results contribute to enrich decision making of political authorities and public officials from San Martin subnational governments. They provide information, according to Peruvian national requirements, on the perceptions needed to rethink and improve provided government services, especially in rainforest area productive activities. This adds up to improvement or creation of new extension services to increase the quality of Chazuta’s cocoa and chocolate products, and to facilitate their entry into more demanding and profitable markets.

The situation of San Martín region and Chazuta district is contextualized and emphasis is given to socioeconomic conditions and the value of cocoa as an alternative crop to coca. From 1980 to early 2000, Peru lived a period of generalized violence due to narcoterrorism, which had large-scale outreach in southern highland and rainforest areas. To deal with this situation, subnational governments in collaboration with international cooperation decided to consolidate agro-industrial value chains in order to generate legal income for rural populations. For this purpose, alternative crop policies were implemented and San Martin region achieved the best results.

This fieldwork was carried out as part of the undergraduate thesis but after fieldwork, with the use of online software tool WebQDA, codes were created to systematize and quantify the collected information in the content manager. The codes were created taking into account assessment and evaluation variables. Each value represented a code referred to a performance level as perceived by Chazuta cocoa and chocolate value chains stakeholders.

The doctrine of employment‐at‐will has been the rule of law for over 100 years in the United States. Under it an employee can be terminated for a good reason, a bad reason, or for no reason at all. Because of real abuses when firing employees, generally called wrongful termination, all but five U.S. states have now carved out at least one of three exceptions to the rule. They are implied contract, public policy tort, and the implied covenant of good faith and fair dealing. Although created with good intentions, all three exceptions have spawned a legal environment of judicial inconsistency and unpredictability and a climate of expensive litigation and monetary judgments. The Model Employment Termination Act, if adopted by all the states, would establish a uniform legal system for managing employee terminations. The Act's major provisions require that an employee can be terminated only for “good cause,” and, in the “preferred version” that arbitration be used in settling disputes. However, an employee's remedies are limited and can include reinstatement, back pay, lump‐sum severance payments, and reasonable attorneys' fees and costs, but no compensatory or punitive damages.

Ensemble models that combine multiple base classifiers have been widely used to improve prediction performance in credit risk evaluation. However, an arbitrary selection of base classifiers is problematic. The purpose of this paper is to develop a framework for selecting base classifiers to improve the overall classification performance of an ensemble model.

In this study, selecting base classifiers is treated as a feature selection problem, where the output from a base classifier can be considered a feature. The proposed correlation-based classifier selection using the maximum information coefficient (MIC-CCS), a correlation-based classifier selection under the maximum information coefficient method, selects the features (classifiers) using nonlinear optimization programming, which seeks to optimize the relationship between the accuracy and diversity of base classifiers, based on MIC.

The empirical results show that ensemble models perform better than stand-alone ones, whereas the ensemble model based on MIC-CCS outperforms the ensemble models with unselected base classifiers and other ensemble models based on traditional forward and backward selection methods. Additionally, the classification performance of the ensemble model in which correlation is measured with MIC is better than that measured with the Pearson correlation coefficient.

The study provides an alternate solution to effectively select base classifiers that are significantly different, so that they can provide complementary information and, as these selected classifiers have good predictive capabilities, the classification performance of the ensemble model is improved.

This paper introduces MIC to the correlation-based selection process to better capture nonlinear and nonfunctional relationships in a complex credit data structure and construct a novel nonlinear programming model for base classifiers selection that has not been used in other studies.

Knowledge assumes a pivotal role in the open innovation (OI) paradigm. Yet OI has been scantly investigated by adopting a knowledge management (KM) lens. Therefore, the purpose of this paper is to provide a systematic literature review of the KM practices analysed by prior literature to support OI activities.

To perform a valuable literature review, the steps for systematic review proposed by previous studies have been adopted. These steps have yielded a final sample of 34 articles. Afterward, the authors have distinguished and analysed the identified articles according to the three main OI processes, i.e. inbound, outbound and coupled OI processes.

This research groups and highlights the most relevant KM practices to support OI activities on the basis of the inbound, outbound and coupled OI processes.

Despite knowledge is the most relevant resource exchanged in OI activities, this is the first attempt to highlight how knowledge should be managed in an OI context by adopting a KM lens. Furthermore, the authors also identify relevant topics that have been so far understudied, which the authors suggest as future research directions.

The aim of this Guest Editorial is to position the special issue.

The Guest Editors reflect on critical perspectives on the relationship between emotion and learning in the workplace, and also present the four papers that constitute the special issue.

Emotion and learning are deeply intertwined in the workplace. To understand this inter‐relationship, it is essential to examine the cultural and political context of particular organisations and the countries in which they are located. Class, gender and race are also highly influential factors that need to be taken into account in such studies.

The special issue gives space and consideration to under‐explored and under‐developed areas in the literature on emotion and learning in the workplace: how emotional suffering can block workplace learning, race, emotion and learning in the workplace, and emotion in relation to ICT support for learning.