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Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

Immigrants are important contributors to workplaces, but HRM scholars have only recently begun to study them systematically. We document the prevalence and cross-national variation in populations of immigrant employees. Going beyond a treatment that considers them as another element of diversity, we propose how gradients of status at each level of country, organization, and work group admittance can result in unique outcomes for immigrants who are equally (dis)similar. We offer a taxonomy of immigrant pathways into their destination countries to explore the status hierarchies they are assigned by governments and reinforced by organizations. We provide insights into the ascribed status of immigrants and develop a typology of individual and organizational acculturation strategies based on the cultural tightness and looseness of the destination and origin cultures. We then describe how the reactions of members of an immigrant employee’s social environment are sensitive to ascribed status and cultural tightness-looseness. We do so in a three-stage process that begins with immigrant categorization, followed by conferral of (il)legitimacy, and finally brought together with perceptions of outcome interdependence. Finally, we offer ideas about HRM interventions to guide management scholars in their quest for understanding and improve the experiences of immigrants in the workplace.

Prior research has documented that product failures can be among a firm's worst nightmares. In this research, we examine if retailers are also held accountable by consumers when products that they sold, but did not manufacture, fail. In two studies, we show that consumers not only blame multiple parties when product failures occur – including the retailer – but also that manufacturer brand equity and retailer store image serve as important contextual cues in the blame assignment process. Specifically, building on congruity theory, we show that retailers are especially susceptible to being held responsible for failure if the equity of the failed product and the retailer store image are incongruent. Our findings also indicate that value-oriented retailers are particularly vulnerable to being blamed when high-equity products fail. Our findings suggest measuring attribution of blame between the manufacturer and retailer involved in a product failure event – instead of only the manufacturer as has been the norm in extant research – facilitates our understanding of consumer responses when product failures occur.

Entrepreneurship as a socially engaged and responsible movement is increasingly conceptualised as creating multiple sources of value: social, environmental, technological, cultural as well as financial, all contributing to wider economic performance. There is a rapid growth in the availability and expectation of ‘Open’ tools and resources, including innovation; data; research access; source code; educational and learning materials; and government. There is an increasing interest in their potential for value creation, requiring research attention and clarity of what ‘Open’ means in this context.

This chapter explores the following three dimensions of the ‘Open Space’ of freely available resources for entrepreneurship:

• (1)

  What is ‘Open’ in the context of entrepreneurship?

• (2)

  Why is Open Entrepreneurship (OE) important for conceptualisation, education and practice?

• (3)

  Can OE provide significant new opportunities for innovation, value creation and learning, and if so, how can these be realised?

What is ‘Open’ in the context of entrepreneurship?

Why is Open Entrepreneurship (OE) important for conceptualisation, education and practice?

Can OE provide significant new opportunities for innovation, value creation and learning, and if so, how can these be realised?

The chapter defines ‘OE’ as a unifying approach for value creation through a conceptual model combining ‘Open’ tools and resources. Open resources for digital and data-led entrepreneurship offer conditions for new, pervasive and distributed forms of value-creating entrepreneurial activity. These can create learning environments with rich access to data and resources, innovative connections and opportunities for co-creating value in multiple forms. This learning-centred approach builds on the concept of entrepreneurship as an educational philosophy of value creation for others. Without this, there are risks that entrepreneurial education, and the capabilities of micro-business owners and managers, may lag the development of an Open digital economy, rather than creating new forms of OE.

Purpose – In recent decades, some sociologists have turned to evolutionary biology, neuroscience, and cognitive science to support, modify, and reconfigure existing social psychological theory. In this chapter, we build on this momentum by considering the relevance of current work in affective and cognitive neuroscience for understanding emotions and the self. Our principal aim is to enlarge the range of phenomena currently considered by sociologists who study emotion while showing how affective dynamics play an important role across most outcomes and processes of interest to social scientists.

Approach – We focus on the ways external social objects become essential to, and emotionally significant for, the self. To that end, we draw on ideas from phenomenology, pragmatism, classic symbolic interactionism, and dramaturgy. We show how basic affective systems graft on, build from, and extend current social psychological usages of emotions as well as the important sociological work being done on self, from both symbolic interactionist (SI) and identity theory (IT) perspectives. Finally, we turn to the promising directions in studying emotional biographies and various aspects related to embodiment.

Findings – Affective systems consist of brain networks whose connections deepen when activated, with interesting variations observable at the neural, individual, and social levels in which one or more system is more salient than others. Affective systems may come to saturate the construction and maintenance of an autobiography or collective biography, with consequences for self-projection, self-other attunement, and embodied action. In turning to embodiment, however, we consider aspects of cognitive neuroscience that can contribute to ongoing work in neurosociology building on symbolic interactionism.

Practical Implications – The focus on affective systems suggests new research agendas in leveraging emerging neurosociological methods in the laboratory, while pushing for novel, naturalistic observational strategies. The latter, in particular, may be key to deepening sociology's contributions to neuroscience, better positioned to bring the full disciplinary toolkit to bear on these questions.

Social Implications – In considering the embodied and projective aspects of the self, we show how work examining convergence and divergence between embodied and linguistic pathways opens up new insights into how the self develops or acquires behavioral repertoires. As such, this chapter points to the need for holistic approach to understanding the social actor and, thereby, how political, economic, historical, and cultural factors shape self as much as biogenetic and psychological.

Originality of the Chapter – Sociologists think of emotions as either dependent or intervening variables: (1) signaling identity or situational incongruence, (2) states to be managed, and (3) structural dimensions of superordinate–subordinate relationships. Our integration of the theory of affective systems emphasizes the causal primacy emotions have over other behavioral and cognitive functions, clarifying how they play into the construction and maintenance of self and social experience.

Government policy mandates information disclosure in financial communications to protect consumer welfare. Unfortunately, low readability can hamper information disclosures’ meaningful benefits to financial decision making. Thus, this experiment tests the product evaluation and decision satisfaction of Korean consumers with less or more subjective knowledge and with or without personal finance education.

A between-subjects experiment examined responses of a nationally representative sample of 400 Korean consumers toward a Korean-language credit card advertisement.

Financial knowledge improves financial product evaluation and decision satisfaction. More readable disclosures improved evaluation and satisfaction among less knowledgeable consumers. Less readable disclosures did not. Consumers without financial education exhibited lower evaluations and decision satisfaction regardless of readability. More knowledgeable consumers and those with financial education performed equally well regardless of disclosure readability.

Financial service providers seeking more accurate evaluations and better decision satisfaction among their customers should use easier-to-read disclosures when targeting consumers with less prior financial knowledge.

One-size-fits-all financial communications are unlikely to achieve public policy or consumer well-being goals. Government-mandated information should be complemented by augmenting financial knowledge and providing personal finance training.

Although almost a quarter of the world’s population lives in East Asia, this is the first examination of readability in disclosures written in East Asian characters rather than a Western alphabet. Previous readability research on Asian-originating financial disclosures has been conducted on English-language texts. This study extends knowledge of readability effects to growing East Asian markets.

While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s when academics began to write books and papers on the Korean labor movement, labor laws, and labor economics. In this paper, we sketch this history and describe important events and people that contributed to the development of industrial relations in Korea. Korean industrial relations in the early 20th century were significantly distorted by the 35-year-Japanese colonial rule (1910–1945). After regaining its independence, the U.S. backed, growth-oriented, military-based, authoritarian Korean government followed suit and consistently suppressed organized labor until 1987. Finally, the 1987 Great Labor Offensive allowed the labor movement to flourish in a democratized society. Three groups were especially influential in the field of industrial relations in the early 1960s: labor activists, religious leaders, and university faculty. Since then, numerous scholars have published books and papers on Korean industrial relations, whose perspectives, goals, and processes are still being debated and argued. The Korean Industrial Relations Association (KIRA) was formed on March 25, 1990 and many other academic and practitioner associations have also come into being since then. The future of industrial relations as a field of study in Korea does not seem bright, however. Issues regarding organized labor are losing attention because of a steadily shrinking unionization rate, changing societal attitude toward labor unions, and the enactment of new and improved laws and regulations regarding employment relationships more broadly. Thus, we suggest that emerging issues such as contingent workers, works councils and tripartite partnership, conflict management, and human rights will be addressed by the field of industrial relations in Korea only if this field breaks with its traditional focus on union and union–management relations.

Bipartite networks (e.g., software developers linked to open-source projects) are common in settings studied by organization scholars. But the structure underlying bipartite networks tends to be overlooked. Commonly, two modes are reduced to one mode for analysis, causing loss of information. We review techniques for projecting 2-modes onto 1-mode and discuss 2-mode measures of clustering. We also address the potential for 2-mode theory development concerning (a) how change in one mode influences change in the other, (b) the question of two types of agency, and (c) how diversity in one mode is a substitute for diversity in the other mode.