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Article
Publication date: 20 March 2024

Duane Windsor

This study aims to help develop “business principles for stakeholder capitalism” in two steps. First, the study defines internal logic of three theories of capitalism and two…

Abstract

Purpose

This study aims to help develop “business principles for stakeholder capitalism” in two steps. First, the study defines internal logic of three theories of capitalism and two variants within each theory. Second, it examines approaches to integration into modern democratic capitalism. Treating the three theories as substitutes identifies relative strengths and weaknesses; complementarity and partial overlap approaches to integration study the institutional settings within which stakeholder capitalism operates. Empirical outcomes reflect competition between market and stakeholder businesses for participants, with institutional conditions determining the scope of collective action.

Design/methodology/approach

The approach aligns three typologies in a unique conceptual arrangement defining the three theories of capitalism: forms of capitalism, potential failures of each form and associated types of goods. The first method examines the internal logic of each theory of capitalism. The second draws on traditional narrative review of references documenting each theory of capitalism and variants together with modern Marxist anti-capitalism.

Findings

Three typologies align uniquely with the theories of capitalism, each having two variants. Both variants of stakeholder capitalism are compatible with compassionate capitalism, constitutional government or polycentric governance but not with self-interest capitalism, dictatorship or Marxism. A theory of modern democratic capitalism allocates roles for private, club and social goods with empirically variable mixes occurring across countries. Competition among different types of enterprises provides an empirical test for comparative advantages of stakeholder capitalism. Future research should consider approaches for testing the proposed conceptual scheme in practice concerning capacity to deal with grand challenges, wicked problems and black swan events.

Research limitations/implications

Research approach is limited to logical examination of theories and literature documentation without direct empirical confirmation. The study does not address practical implications for managers and public officials or social implications concerning private incentives, stakeholder cooperation or collective action.

Originality/value

Originality lies in shifting terms of debate about stakeholder capitalism from advocacy of substitute theories to understanding of its relationship to market capitalism and collective action capitalism. Value lies in explaining desirability of theoretical integration of three types of capitalism into a comprehensive framework for modern democratic capitalism.

Article
Publication date: 22 February 2024

Amy Wong and Jimmy Wong

This study aims to apply the service robot acceptance model (sRAM) to examine how attitude toward human–robot interaction (HRI) and engagement influence consumer acceptance of…

Abstract

Purpose

This study aims to apply the service robot acceptance model (sRAM) to examine how attitude toward human–robot interaction (HRI) and engagement influence consumer acceptance of service robots in a frontline setting.

Design/methodology/approach

Data was collected from 255 visitors who interacted with a robotic tour guide at a city museum. The data was analyzed using smart PLS 4.0.

Findings

The findings show the positive effects of subjective norms, appearance, perceived trust and positive emotion on both attitude toward HRI and engagement. In addition, social capability impacted attitude toward HRI, whereas perceived usefulness affected engagement.

Practical implications

To deliver engaging museum experiences that bring about positive word-of-mouth and intention to visit, managers need to incorporate the sRAM dimensions in the design and deployment of service robots.

Originality/value

This research uses field data to empirically validate the sRAM in the context of service robot acceptance. It introduces engagement as a novel mediating variable, enriching current understanding of human-like qualities in HRIs.

Details

Journal of Services Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0887-6045

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