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This paper aims to explain the fundraising and valuation processes of startups and discuss the conflicts of interest between entrepreneurs, venture capital (VC) firms and stakeholders in the context of startup corporate governance. Further, this paper uses the examples of WeWork and Zenefits to explain how a failure of stakeholders to demand an external audit from an independent accounting firm in early stages of funding led to an opportunity for fraud.

The methodology used is a literature review and analysis of startup valuation combined with the Fraud Triangle Theory. This paper also provides a discussion of WeWork and Zenefits, both highly visible examples of startup fraud, and explores an increased role for independent external auditors in fraud risk mitigation on behalf of stakeholders prior to an initial public offering (IPO).

This paper documents a number of fraud risks posed by the “fake it till you make it” ethos and investor behavior and pricing in the world of entrepreneurial finance and VC, which could be mitigated by a greater awareness of startup stakeholders of the value of an external audit performed by an independent accounting firm prior to an IPO.

An implication of this paper is that regulators should consider greater oversight of the startup financing process and potentially take steps to facilitate greater independence of participants in the IPO process.

Given the potential conflicts of interest between VC firms, investment banks and startup founders, the investors at the time of an IPO may be exposed to the risk that the shares of the IPO firms are overvalued at offering.

This study demonstrates how startup practices can be extended to the Fraud Triangle and issue a call to action for the accounting profession to take a greater role in protecting the public from startup fraud. This study then offers recommendations for regulators and standards entities.

There are few academic papers in the financial crime literature that link the valuation and culture of startup firms with fraud risk. This study provides a concise explanation of the process of valuation for startups and highlights the considerations for stakeholders in assessing fraud risk. In addition, this study documents an emerging role for auditors as stewards of proper valuation for pre-IPO firms.

This article aims to analyze the strategic work of Polish entrepreneurs in the furniture industry following the political changes in 1989. The authors examined how these entrepreneurs transitioned from local craftsmen or importers into leaders of international manufacturing companies and how their strategizing contributed to the unprecedented growth of the Polish furniture sector.

The authors examined extant data, specifically biographical interviews conducted with 11 prominent leaders in the Polish furniture industry (Hryniewicki, 2015, 2018). They analyzed within a theoretical framework that integrates J.C. Spender’s theory of strategic management with Barry Johnson’s concept of polarity management. Polarity is a way of understanding and managing interdependent, opposing pairs of values or perspectives that give rise to conflict.

The analysis reveals key patterns of strategic challenges at the level of human agency, history and sense-making. The authors identified four key polarities: life and business, knowledge presence and absence, concordance and discordance, and instrumental and non-instrumental sense-making.

The polarity concept illuminates the interplay of agency and determinism in strategic decision-making, offering valuable insights for methodology and a deeper understanding of Poland’s furniture industry.

The authors examined the impact of the Market Facilitation Program (MFP) and Coronavirus Food Assistance Program (CFAP) payments to United States agricultural producers on non-real estate agricultural loans.

The authors used quarterly, state-level commercial bank data from 2016–2020 to estimate dynamic panel models.

The authors found MFP and CFAP payments not associated with the percentage of non-real estate agricultural loans with payments over 90 days late. However, these payments associated with the percentage of non-real estate agricultural loans with payments between 30 and 89 days late. The available data utilized cannot consider when producers received the actual payment and what they specifically did with those funds.

The contribution of this study is for US policymakers and agricultural lenders. The findings could be helpful in designing and implementing future ad hoc payment programs and provide an understanding of potential shortcomings of the current safety net for agricultural producers in the Farm Bill. Additionally, findings can assist agricultural lenders in predicting the impact of ad hoc payments on their distressed loan portfolios.

This paper aims to explore how historical context influences the content and selection of rhetorical legitimation strategies. Using case study method, this paper will focus on how insurance companies and labor tried to defend their legitimacy in the context of enactment of Medicare in the USA. What factors influenced the strategic (rhetorical) decisions made by insurance companies and labor unions in their institutional work?

The study is empirically grounded in archival research, involving an analysis of over 9,000 pages of congressional hearings on Medicare covering the period 1958–1965.

The authors show that rhetorical legitimation strategies depend significantly on the specific historical circumstances in which those strategies are used. The historical context lent credibility to certain arguments and organizations are forced to decide either to challenge widely held assumptions or take advantage of them. The authors show that organizations face strong incentives to pursue the latter option. Here, both the insurance companies and labor unions tried to show that their positions were consistent with classical liberal ideology, because of high respect of classical liberal principles among different stakeholders (policymakers, voters, etc.).

It is uncertain how much the results of the study could be generalized. More information about the organizations whose use of rhetorics the authors studied could have strengthened our conclusions.

The practical relevancy of the revised paper is that the authors should not expect hegemony challenging rhetorics from organizations, which try to influence legislators (and perhaps the larger public). Perhaps (based on the findings), this kind of rhetorics is not even very effective.

The paper helps to understand better how organizations try to advance their interests and gain acceptance among the stakeholders.

In this paper, the authors show how historical context in practice influence rhetorical arguments organizations select in public debates when their goal is to influence the decision-making of their audience. In particular, the authors show how dominant ideology (or ideologies) limit the options organizations face when they are choosing their strategies and arguments. In terms of the selection of rhetorical justification strategies, the most pressing question is not the “real” broad based support of certain ideologies. Insurance company and labor union representatives clearly believed that they must emphasize liberal values (or liberal ideology) if they wanted to gain legitimacy for their positions. In existing literature, it is often assumed that historical context influence the selection of rhetorical strategies but how this in fact happens is not usually specified. The paper shows how interpretations of historical contexts (including the ideological context) in practice influence the rhetorical strategies organizations choose.

The purpose of this study is to examine the potential of integrating material from the arts into postgraduate curricula to deepen students’ engagement with marketing phenomena. The authors assess the use of arts-based activities, within a broader critical pedagogy, for encouraging imaginative and analytical thinking.

The authors devised two learning activities and an interpretive method for studying their value. The activities were an individual essay connecting themes in song lyrics to marketing, and a group photography project. These were applied, within a broader, critical approach, in postgraduate modules on sustainability, ethics and critical marketing. Data collection comprised diaries kept by the teachers, open-ended feedback from students and students’ assignments.

Students showed high levels of engagement, reflexivity and depth of thought, in felt experiences of learning. Their ability to make connections not explicitly in the materials, and requiring imaginative jumps, was notable. Several reported lasting changes to their behaviour. Some found the tasks initially intimidating or, once they were more engaged, stressful or saddening.

This adds to scholarship on management education by showing the usefulness of an arts-based approach towards a transformative agenda.

It offers a template of how to draw from the arts to strengthen critical engagement upon which marketing teachers can build. It also contains practical advice on the challenges and benefits of doing so.

The authors provide evidence that this approach can enhance sensitivity and reflexivity in students, potentially producing more ethical and sustainable decisions in future.

The pedagogical interventions are novel and of value to lecturers seeking to enhance critical engagement with theory. An empirical study of an attempt to integrate arts into teaching marketing represents a promising direction, given the discipline’s creative nature.

Sex tourism is well documented in the literature, but what about porn tourism? Whether it is a Ping Pong show in Phuket or the Banana show in Amsterdam, porn and tourism have an encounter and gaze no different from the Mona Lisa in the Louvre or magnificent views of New Zealand’s Southern Alps. The paper aims to discuss these issues.

This paper explores the intersections of tourism, porn and the future as a conceptual framework.

Four intersections are derived from the conceptual framework. Intersection 1, the Future of Tourism, portrays the evolution of tourism and explores its technological future. Interaction 2, Porn in Tourism, distinguishes between soft- and hard-core porn tourism. Intersection 3, Portraying Porn as a Future Dimension, delves into futurism, science fiction and fantasy. The fourth intersection, the Future Gaze, conveys the thrust of the paper by exploring how technological advancement blends with authenticity and reality. Thus the porn tourist seeks both the visual and the visceral pleasures of desire. The paper concludes with four future gazes of porn tourism, The Allure of Porn, The Porn Bubble, Porn as Liminal Experience and Hardcore.

The originality of this paper is that this is the first paper to systematically examine porn tourism beyond sex tourism overlaying with a futures dimension. Porn tourists actively seek to experience both visual and visceral pleasures. Tourism and pornography both begin with the gaze. The gaze is an integral component of futures thinking. Technology is changing us, making us smarter, driving our thirst for liminal experiences. Like the transition from silent movies to talking pictures the porn tourism experience of the future is likely to involve more of the bodily senses.

With the increasing awareness and recognition of the importance of corporate governance (CG), its practices and mechanisms along with their effect on performance and general organization’s behavior have become of interest for many scholars. The purpose of this paper is to examine the relationship between CG, with a focus on the board of directors (BOD) and the audit committee, and the level of corporate social responsibility (CSR) practices toward health, refugees, community, and environment.

Data were collected through a questionnaire distributed to 203 employees working at family-owned enterprises (FOE) in Lebanon. SmartPLS 3.0, statistical software for structural equation modeling, was used to analyze data.

The results indicate that the audit committee component of CG has a significant positive impact on CSR dimension practices toward health, refugees, and community and environment. Furthermore, family members’ engagement in the board of directors and decision making plays a moderating role on the relationship between the audit committee and CSR practices toward health, community, and environment, as well as the relationship between the BOD and CSR toward community and environment.

The role of family members’ engagement in the effectiveness of CG and CSR practices FOE is studied.

This paper aims to identify the interaction of different intervention strategies implemented in Malaysia towards flattening the curve of COVID-19 cases. Since the outbreak of COVID-19, many approaches were adopted and implemented by the Malaysian government. Some strategies gained quick wins but with negative unintended consequences after execution, whereas other strategies were slow to take effect. Learning from the previous strategies is pivotal to avoid repeating mistakes.

This paper presents the cause, effect of and connection among the implemented COVID-19 intervention strategies using systems thinking through the development of a causal loop diagram. It enables the visualisation of how each implemented strategy interacted with each other and collectively decreased or increased the spread of COVID-19.

The results of this study suggested that it is not only essential to control the spread of COVID-19, but also to prevent the transmission of the virus. The Malaysian experience has demonstrated that both control and preventive strategies need to be in a state of equilibrium. Focusing only on one spectrum will throw off the balance, leaving COVID-19 infection to escalate rapidly.

The developed feedback loops provided policy makers with the understanding of the merits, pitfalls and dynamics of prior implemented intervention strategies before devising other effective intervention strategies to defuse the spread of COVID-19 and prepare the nation for recovery.

This conceptual, multi-voiced paper aims to collectively explore and theorize family entrepreneuring, which is a research stream dedicated to investigating the emergence and becoming of entrepreneurial phenomena in business families and family firms.

Because of the novelty of this research stream, the authors asked 20 scholars in entrepreneurship and family business to reflect on topics, methods and issues that should be addressed to move this field forward.

Authors highlight key challenges and point to new research directions for understanding family entrepreneuring in relation to issues such as agency, processualism and context.

This study offers a compilation of multiple perspectives and leverage recent developments in the fields of entrepreneurship and family business to advance research on family entrepreneuring.

The concept of trust suffers from conceptual confusion. The current perspectives on trust within the B2B marketing domain could be visualised as a big box of which the borders are defined by the disciplines marketing, economics, psychology and sociology. The purpose of this paper is to enlarge the box by introducing neuroscientific insights on trust to the B2B marketing domain.

By a literature study on neuroscientific insights on trust, this paper examines how neuroscience can help to solve existing problems within trust research and how it can address problems that otherwise might not be considered.

The neural coordinates of trust not only show that trust entails cognitive and affective elements, but also that these elements are so intertwined that they cannot be completely separated. What can and should be separated are the concepts of trust and distrust: the neural coordinates of trust are clearly different from the neural coordinates of distrust. Furthermore, there are personal differences in the ease of trusting others, which are not only caused by previous experiences but also by differences in resting patterns of frontal electroencephalographic asymmetry and by differences in hormonal state.

Specifically, the neural difference between trust and distrust might shape the future research agenda for trust research within industrial marketing. It is likely that the process of distrust goes quick, whereas trust comes more slow. This is reflected in the dual processing theory, which is seen as a paradigm shift in the psychology of reasoning.

New perspectives and directions for trust research are presented. The distinction between trust and distrust is connected to approach- and avoidance-motivated behaviour, which is highly relevant for deepening the studies on trust within industrial marketing.