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International marketing (IM) researchers have underscored the need for scholars to develop more studies to investigate institutional interactions (II) and sources of complexities in emerging markets (EMs). In response to these calls, the purpose of this paper is to propose a framework that classifies the dominant conditions firms are likely to confront as they enter EMs. Further, using exploratory data, the study evaluates potential strategies that foreign firms can follow when they encounter one of the most challenging condition (tribal rule (TR)) identified in the framework. The primary research question explored is: what strategies do foreign firms adopt to succeed under conditions of TR in EMs?

The methodology is exploratory qualitative research. The authors conducted extended interviews to produce rich case study data from CEOs and executives who have experience doing business in countries with strong TR conditions, such as Nigeria, Saudi Arabia, and Qatar. The interview data/transcripts were evaluated using open, axial, and selective coding (Strauss and Corbin, 1998) to discover macro-narratives that guide entry strategies in EMs.

Overall, foreign firms successful strategies under TR conditions revolve around knowledge of tribal networks, understanding of their common interests, co-creation of commonality of interests and goals and internal assimilation of tribal leaders. Based on the findings, the authors argue strategies emphasizing co-creation of commonality of interest and goals and absorption of political risk environment perspective will outperform traditional standardization and relational trust approaches.

The findings from the study provided preliminary insights about relevant managerial strategic choices under conditions of tribal complexities.

This study is the first known study to expand the recent IM debate on II and sources of complexities to TR context. The recognition of a co-creation of commonality of interest dimension is an important contribution. The strategy of co-creation of commonality of interests is unique to this study.

This paper aims to show the possibilities of implementing the idea of sustainability in the context of energy transformation using the concept of an industrial cluster. The implementation of the idea of sustainability is of particular importance from the perspective of the functioning of the meta-organisations involved in the implementation and promotion of decarbonisation processes. Industrial clusters, as collective actors initiating collective actions and providing complex governance structures, seem to have a great fit with regard to the needs of disseminating and implementing the idea of sustainable development, also in conjunction with energy development.

Empirical evidence is derived from a case study of Mazovia Clustes ICT (MC ICT). Based on the experience of this cluster, this study wants to show the evolution of the industrial cluster through the prism of its growing activity in supporting energy transition. The authors conducted the research in the period 2022–2023 using in-depth personal interviews and an analysis of the secondary data. The primary technique for data analysis and interpretation was conventional qualitative content analysis.

As a result of this study, the authors have distinguished three main areas of cluster activity covering the strategic, operational/project and institutional levels. Within the first area, the cluster’s efforts focused on the development of a strategy and involvement in lobbying and co-legislating. The second area refers to the cluster’s activity in the carrying out of national and transnational projects on the creation and implementation of various energy solutions. The activities undertaken in the third area include support for the development of start-ups in the field of energy and involvement in the launch of an energy cluster and the development of distributed energy in Poland. Although the strategic and operational/project levels are characterised by a commonality of activities and goals, there is additionally a commonality of interests at the institutional level.

This paper has its limitations, which primarily relate to the small research sample (the choice of a case study as the main research strategy) and the methods used (qualitative research). Therefore, it is impossible to generalise the results to the entire population of clusters.

This paper has considerable practical value, as the results of this study may be relevant for public authorities interested in implementing energy transition through industrial clusters. The activities described can also be a source of inspiration for other clusters interested in shaping pro-environmental attitudes.

The cluster’s activities are closely linked to the three pillars of sustainable development, including the social pillar. The solutions developed within the cluster in the context of energy development are aimed not only at increasing energy efficiency and protecting the environment but also at broader social welfare.

This paper makes an additional contribution to the state-of-the-art of the industrial cluster concept by linking it to the idea of sustainable development, in the context of energy transformation. In addition, it sheds new light on issues related to cluster co-operation, combining the case of the industrial cluster with the very fresh and as yet poorly described idea of the energy cluster.

The purpose of this paper is to examine the potential effectiveness of government reforms aimed at improving the accuracy of ratings issued by credit ratings agencies in US financial markets.

The paper identifies unconscious bias as a source of inaccuracy in the credit ratings process. It examines prior behavioral research on unconscious bias, and uses this research to identify structural issues within the credit ratings industry that give rise to biased judgments. Finally, it examines whether government reforms will be effective in improving the accuracy of credit ratings, and offers additional reforms aimed at combating unconscious bias.

Recent government reforms will be most effective in curbing intentional decisions to compromise the ratings process. However, the reforms will be less effective at mitigating unconscious biases in judgments underlying credit ratings, because they do not adequately address relevant structural issues. To combat unconscious bias, changes need to be made to ratings agencies' fee structures, business models, and risk management functions.

The analysis is of use to regulators who are contemplating the need for reforms aimed at improving the accuracy of credit ratings. While focusing on events in the USA, the analysis is relevant to any country in which credit ratings are influential in financial markets.

This is the first paper to examine the performance of credit ratings agencies through the lens of behavioral psychology, and to introduce the concept of unconscious bias as a determining factor in the accuracy of credit ratings.

A key concern in debates about local government structure has centred around the competing claims for democracy, usually seen to require small units based on recognised communities of interest, and those of administrative efficiency or the instrumental requirements of the centre, usually seen to require larger units which can encompass socio‐geographical change and the functional requirements of large‐scale welfare provision. Britain provides perhaps the best example of this issue being settled in favour of the latter claim with structure being designed to reflect changing patterns of economic interaction between people and the technical requirements of service delivery. Although the various recommended changes in structure have recognised the importance of a sense of community to local government the dominant considerations have been those of economic rationality and the scale required for the delivery of services. Thus local government structure has been determined by functional requirement, with the economic welfare of communities being equated to total welfare. The adoption of a postmodernist stance however, provides the opportunity to reintroduce the concept of spiritual community and for claiming that the maximisation of economic welfare is not necessarily the same as the maximisation of total welfare. Postmodernist arguments are used in this paper to suggest local government structures which contain units of varying sizes. To define community in terms of welfare maximisation in this way would allow the combination of economic, social, physiological and psychological welfare. It is argued that such a definition would help the development of a local government structure which is not purely instrumental but which also promotes ownership and involvement. This approach is equally applicable not only where an instrumental attitude has prevailed, but also allows for the potential to re‐define “traditional” community bases for Local Government.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

One of the features of current society is that of protest against environmental issues and this paper considers protest against road building and the ecoprotest movement. In doing so it considers both the local inhabitants and new age travellers who are involved in such protest to show that not only does ecoprotest, as a form of protest, raise the profile of environmental issues within public discourse but also opens up space for such discourse. Of greater significance is the effect which the ecoprotest, movement has upon a local sense of identity and community. Indeed the travellers themselves, through their action and engagement, demonstrate that the key determinant of community identity is grounded in self‐belief and shared aspirations rather than in an externally imposed definition or in any economic imperatives. This paper shows that the migration of this sense of self‐belief into mainstream society serves to demonstrate that community spirit and identity are extant in modern society but need a catalyst for their re‐emergence. In doing so the role of ecoprotest points towards a possible mechanism for the re‐emergence of an active and participatory sense of community identity within society as a whole.

The purpose of this paper is to explore the views of journalists, food regulators and the food industry representatives on the impact of social media on communication about food risk. The authors identify how journalists/media actors use social media in identifying and creating news stories arguing that food regulators need to maintain a social media presence to ensure that accurate information about food safety is disseminated via social media.

Data were collected through 105 semi-structured interviews.

While food regulators and representatives of the food industry identify advantages of social media including two-way communication and speed of transmission of information, they maintain concerns about information provided via social media fearing the potential for loss of control of the information and sensationalism. There is evidence, however, that media actors use social media to identify food stories, to find sources, gauge public opinion and to provide a human interest angle.

While there are commonalities between the three groups, concerns with social media reflect professional roles. Food regulators need to be aware of how media actors use social media and maintain a social media presence. Further, they need to monitor other sources to maintain consumer trust.

This paper adds to public debate through comparing the perspectives of the three groups of respondents each that have their own agendas which impact how they interact with and use social media.

In neo‐classical economic theory labour is a commodity and the ultimate value of the employer's services is determined by the sales value of the product of these services: the cost of supply reflects both the disutility of work for the recruit and his equalisation of net advantages between jobs. For modern labour economists the assumption that entrepreneurs require identical inputs of labour and the new recruits will therefore possess similar skills (the conditions of free competition) is an unrealistic one. Hence segmental labour market theory has grown out of the need to explain differences between shared needs and commonalities within each group of consumers (employers) on the one hand and suppliers (employees) on the other. In this way it has been possible to carry on assuming the existence of perfect competition on both sides of the market within the boundaries of labour markets thus defined.

The purpose of this paper is to argue that curriculum‐based careers education is part of a wider move to treat higher education students as holistic learners and to reframe the ways in which careers educators can learn from, and contribute to, these wider developments.

The paper conceptualises students as “embodied learners” who require opportunities for reflection to understand and process the existential, affective and pedagogic challenges inherent in their learning. Drawing on Palmer's notion of “paradoxical spaces”, careers education is shown to be one of many related responses to these student needs.

Consequently, while sometimes perceived as an anomalous feature of the higher education landscape, careers education is found to share important commonalities with other pedagogic initiatives which inform and extend current debates about careers in the curriculum.

By showing the familial characteristics that careers education shares with related initiatives, a new basis for including careers within the curriculum is proposed and a new collaborative mode for careers educators to engage with other teaching staff is encouraged. A new rationale for curriculum based careers education is advanced, that differs from utilitarian and vocational arguments by being derived from a pedagogic discourse, which seeks to establish common ground between careers educators and other academics.

This chapter introduces empirical studies of firm performance and related risk outcomes conducted in the management and finance fields presenting underlying theoretical rationales as they have evolved over time. Early finance studies of market-based returns predominantly found positively skewed return distributions that conform to assumptions about higher returns associated with more risky investments. Subsequent studies found that performance outcomes measured as accounting-based financial returns generally display left-skewed distributions that reflect negative risk-return relationships. This artifact was first observed by Bowman (1980), thus often referred to as the “Bowman paradox” because it contravened the conventional assumptions in finance. The management studies have largely confirmed the inverse risk-return observations but often following rather confined research streams. A contingency perspective inspired by prospect theory and behavioral rationales have investigated the lagged effects of performance on risk outcomes and vice versa. Another stream has focused on the spurious relationships between negatively skewed performance distributions and the inverse risk-return associations. A third approach considered the performance and risk outcomes as deriving from the firms responding in distinct ways to exogenous changes. These studies reach comparable results but underpinned by very different rationales. The finance studies observe deviations from the pure doctrine of positive risk-return associations embedded in the widely adopted capital asset pricing model (CAPM) and note deficiencies with alternative interpretations that even question the validity of CAPM. A more recent strain of studies in behavioral finance observes how many (even professional) investment managers have biases that lead to inverse relationships between perceived risk and return outcomes. While these diverse fields of study have different starting points, they uncover an increasing number of interesting commonalities that can inspire the ongoing search for explanations to observed left-skewed financial returns and negative risk-return correlations across firms.