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In the associated paper “Selecting overseas markets and entry modes: two decision processes or one?”, it was proposed that market selection and market entry mode selection be looked upon as two aspects of one decision process. Examines a wide spectrum of factor categories to be included in the proposed MEMS model and argues that an inclusive spectrum of analysis would make it a universally applicable model, capable of accommodating all business contexts and most relevant business practices.

Defining competences, capabilities and skills (CCSs) considered critical in the company’s international business environment is a most important, yet often neglected, strategic management task. Suggests number of core competences, capabilities and skills in international business and then assesses their relevance for selected product categories, countries and international business forms. Discusses three mini‐cases against the background of Sanchez‐Heene model of company as an open system, to suggest a basic framework for the international business CCS gap analysis.

Contrary to the prevalent theory approaches that treat market selection and market entry mode selection as two related but essentially separate decisions, this paper argues that these should most appropriately be looked on as two aspects of one decision process. It proposes that an exhaustive list of factors that can influence outcomes of such an integrated process be developed and argues that an inclusive spectrum of analysis would be able to accommodate all business contexts and most relevant business practice. It then presents a new market and market entry mode selection model (MEMS) which conforms to the proposed inclusive spectrum of the underlying decision process analysis.

Nancy Maclean’s Democracy in Chains (2017) is an attempt to provide a narrative arc for the rise of free market ideas in political action during the second half of the twentieth century and into the first decades of the twenty-first century. The central character in her narrative is neither F.A. Hayek nor Milton Friedman, let alone Adam Smith or Ludwig von Mises, but James M. Buchanan, the 1986 Nobel Prize winner in economics. MacLean argues that rather than extol the virtues of the market economy as Hayek and Friedman did before him, Buchanan focused on the dysfunctions of politics. Due to a series of argumentative fallacies and failures that follow from her ideological blinders, I argue that MacLean’s attempt is a missed opportunity to seriously engage some very pressing issues in public choice and political economy and understand how James Buchanan attempted to resolve them in a democratic manner. As such, Democracy in Chains is not only a mischaracterization of Buchanan and his project but also a poignant lesson to us all about how ideological blinders can subvert even the sincerest effort to unearth truth in the social sciences and the humanities.

The involvement of employees in a company’s corporate social responsibility (CSR program) is one of the key factors for its success. Hence, it is important to understand employees’ reactions to participatory CSR activities. The purpose of this paper is to examine what kinds of benefits employees perceive from participating in CSR, to identify varying levels of participation and to discuss the reciprocal relationship between the perception of benefits and participation.

Based on semi-structured interviews with employees, the structuring content analysis resulted in a differentiated examination of perceived benefit clusters (classified as functional, emotional and meaning and morality) and in a clustered exploration of varying levels of participation (cognitive and behavioral).

The findings reveal that employees perceived all three clusters of benefits in relation to no/low, passive, active and enthusiastic levels of participation. The data provide insights into the relationship between perceived benefits and varying levels of participation, with a balanced and differentiated perception of benefits seeming to relate to higher levels of participation. However, employees may also benefit without a behavioral form of participation, for instance, from an improved team spirit.

Due to its methodological approach, this empirical study provides a rich picture of employees’ benefits according to varying levels of participation. The paper contributes to current CSR literature by examining self-oriented benefits, through identifying differing levels of participation, and by discussing their reciprocal relation. These findings contribute to research and practice through the implications for promoting sustainability approaches within companies.

Surveys, from an American perspective, the existing literature on economic explanations of the behaviour of universities and scholars. The modern literature is put in historical perspective introduced by a brief discussion of the positions of two of the earliest and most distinguished contributors to the literature: Adam Smith and Max Weber. Discusses the human capital and implicit contracts literatures of the behaviour of scholars, the latter elaborated in terms of the issue of tenure. The most common theoretical economic analysis of the university is the view that it is best thought of as a non‐profit organization. Discusses variants of this view, with special attention to the literature on rent‐seeking in academe. Goes on to the empirical literature on the economics of academe in the areas of academic institutions, academic earnings functions, the earnings and status of minority scholars and academic production functions. Briefly considers the relevance of the current literature to the Althoff system, suggesting that Althoff′s able, trusted advisers, and his system of institutes, may have allowed him to avoid several inefficiences that have been identified by economists as present in other academic institutions. Although the centralization of decision making in the hands of one decision maker may be efficient if the decision maker is exceptionally able, more commonly the most efficient system will be a decentralized system that allows for greater diversity and competition. Concludes with a discussion of how hypotheses on the efficiency (and fairness) of various aspects of the Althoff system could, in principle, be tested.

Expectations play a crucial role in finance, macroeconomics, monetary economics, and fiscal policy. In the last decade a rapidly increasing number of laboratory experiments have been performed to study individual expectation formation, the interactions of individual forecasting rules, and the aggregate macro behavior they co-create. The aim of this article is to provide a comprehensive literature survey on laboratory experiments on expectations in macroeconomics and finance. In particular, we discuss the extent to which expectations are rational or may be described by simple forecasting heuristics, at the individual as well as the aggregate level.

This chapter explores how electronic affective displays may influence individual perceptions, behavior and performance by conducting an exploratory analysis using a sample of real work emails (study 1), along with a laboratory experiment (study 2). The findings from both studies indicate that positive affective displays may have a stronger impact on individual perceptions (study 1) and invoke greater reciprocity from electronic partners (study 2) than negative affective displays. Moreover, some interesting gender effects with respect to affective displays and individual negotiation performance are observed. The implications for the field, along with limitations of the current research, are discussed.