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Article
Publication date: 7 September 2015

Erik Wikberg and Niklas Bomark

The purpose of this paper is to extend the literature on how actors manage competing logics in an organizational field. The authors do so by introducing the concept of…

Abstract

Purpose

The purpose of this paper is to extend the literature on how actors manage competing logics in an organizational field. The authors do so by introducing the concept of organizational irony to the literature on how to manage competing logics, and analyze a collaborative cultural project encompassing actors subjected to competing institutional logics.

Design/methodology/approach

The case study is built on qualitative data from in-depth interviews, newspaper articles and observations.

Findings

The authors describe and analyze a cultural project encompassing actors subjected to competing institutional logics and show how they responded to institutional pressures in their environment with the use of organizational irony. Thereby, the actors could collaborate with actors subjected to a competing institutional logic and still maintain adherence to their respective institutional logic.

Research limitations/implications

Most studies of how to manage competing logics asserts that one logic will prevail over a competing one, either through “battles” or gradual dominance (Reay and Hinings, 2009). This study supports and adds to Reay and Hinings’ (2009) finding that actors also can collaborate and maintain adherence to their respective logic under such circumstances. In particular, it supports two identified mechanisms of how this can be achieved, namely, to separate decisions and to jointly innovate in experimental sites. It also adds to these mechanisms by showing that this can be done through the use of organizational irony. The authors only study one cultural project in one organizational field. It remains unclear if these findings are common in other cultural projects or in other organizational field, and the authors therefore encourage other researchers to extend or challenge the findings of this study.

Practical implications

The authors believe that the analysis and findings can be useful for politicians to take into account and address either to minimize the risk of organizational irony or on the contrary encourage it as a source of reflexive critique of society and cultural politics. The authors also believe that the response of organizational irony to institutional pressures broadens the acting space of cultural actors, provide media and critics with an analytical tool to analyze and deconstruct practices that otherwise would risk to be silenced or neglected. Finally, the authors believe that an analysis of organizational irony has the potential to make people attend to contradictions and multiple meanings in the artworks under study in a novel way.

Originality/value

The paper provides an intriguing and complex empirical case to demonstrate how actors manage competing logics in an organizational field through the production of organizational irony. The authors believe that its theoretical contributions and practical implications can inspire future research on how paradoxes can be managed through the use of organizational irony in other projects and organizational fields.

Details

International Journal of Managing Projects in Business, vol. 8 no. 4
Type: Research Article
ISSN: 1753-8378

Keywords

Book part
Publication date: 3 April 2018

Stoyan V. Sgourev

The process of commercialization of art is often referred to as “monetization,” denoting the use of art as an investment class. I discuss the reverse mechanism, defined as…

Abstract

The process of commercialization of art is often referred to as “monetization,” denoting the use of art as an investment class. I discuss the reverse mechanism, defined as “Monet-ization,” where investment is overlaid with artistic value, and unproven art is imbued with aesthetic qualities. This mechanism is derived from a historical overview of key periods in the history of art, such as the flourishing of new genres in early 17th century Dutch art and the rise of Modern art in the early 20th century. An analysis of original data on the leading art collectors in the world in the period 1990–2015 highlights the tendency for collectors with an “investor” profile and eclectic taste to buy contemporary art. Combining artworks from diverse periods and styles, eclectic personal collections contribute to the conversion of economic into aesthetic value by way of spill-overs across genres and to the attribution by association of “old” value to “new” art. The “Monet-ization” process helps elucidate how paradigm shifts occur in the art world and how innovation survives under conditions of insufficient demand.

Details

Frontiers of Creative Industries: Exploring Structural and Categorical Dynamics
Type: Book
ISBN: 978-1-78743-773-9

Keywords

Book part
Publication date: 26 October 2016

Rafael Cejudo and Pablo Rodríguez-Gutiérrez

The main purpose of this conceptual paper is drawing up a framework to assess the company responsibility regarding culture and fine arts. Since a rich cultural life…

Abstract

The main purpose of this conceptual paper is drawing up a framework to assess the company responsibility regarding culture and fine arts. Since a rich cultural life requires variety and commitment to innovative and bold forms of cultural activity, the model should measure the corporate commitment to fostering axiological pluralism in the cultural sphere. A subordinate purpose is testing that model using primary data on the biggest Spanish listed companies. First, we define the corporate cultural responsibility (CCR) as a specific field of the corporate social responsibility. Second, we defend that corporate citizenship involves accepting some risks to be in line with the public expectations on arts and culture. Third, it is proposed an assessment model that takes into account the kind of cultural activities promoted by the firms, from conventional and uncommitted to innovative and provoking. The model makes possible to rank the companies according to the quality of their CCR and take into account the influence of size and sector. The model reveals whether firms support conventional versus challenging cultural activities. This should be taken into consideration both by CSR managers and policy makers. In spite of the mounting economic significance of symbols and creativity, there is still little literature that specifically addresses the role of firms regarding arts and culture as another facet of their responsibility as corporate citizens.

Details

The Contribution of Love, and Hate, to Organizational Ethics
Type: Book
ISBN: 978-1-78635-503-4

Keywords

Article
Publication date: 29 March 2021

Linda Arch

Since the global financial crisis of 2007-2009 academic research has paid considerable attention to understanding the nature of the crisis, its causes and consequences…

Abstract

Purpose

Since the global financial crisis of 2007-2009 academic research has paid considerable attention to understanding the nature of the crisis, its causes and consequences. This is not surprising given the scale and scope of the crisis. Much of this research has been undertaken within social science disciplines. At the same time, the crisis has also been the subject of fiction – novels, poetry and drama, and there is also a small body of academic scholarship on fiction relating to the crisis (and on finance in fiction more generally). The purpose of this paper is to suggest that fiction can offer a new perspective on the global financial crisis and thereby enhance our understanding of it.

Design/methodology/approach

This exploration draws upon three works of post-crisis fiction: the 2009 play by David Hare, The Power of Yes: A Dramatist Seeks to Understand the Financial Crisis (hereafter The Power of Yes); Other People’s Money, a novel by Justin Cartwright (2011); and Robert Harris’s novel The Fear Index also published in 2011. Its approach is based on close readings of the three texts in question.

Findings

Finance fiction stimulates a reconceptualization of the global financial crisis as a crisis of innovation and technological change.

Originality/value

This paper is a viewpoint article. The originality lies in the author’s interpretation of reading the global financial crisis through fiction.

Details

Qualitative Research in Financial Markets, vol. 13 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 28 August 2008

Andrew C. Worthington and Helen Higgs

The purpose of this paper is to examine the investment characteristics of works by leading Australian artists.

654

Abstract

Purpose

The purpose of this paper is to examine the investment characteristics of works by leading Australian artists.

Design/methodology/approach

About 35,805 paintings by 45 leading Australian artists sold at auction are used to construct individual hedonic price indices. The attributes included in each artist's hedonic regression model include the size and medium of the painting and the auction house and year sold.

Findings

The indexes show that average annual returns across all artists range between 4 and 15 per cent with a mean of 8 per cent, with the highest returns for works by Brett Whiteley, Jeffrey Smart, Cecil Brack and Margaret Olley. Risk‐adjusted returns are generally lower, with reward‐to‐volatility and reward‐to‐variability ratios averaging 1.5 and 5.8 per cent, respectively. The portfolio βs for individual artistic works average 0.41. The willingness‐to‐pay for perceived attributes in the artwork show that works executed in oils and gouache, and those auctioned by Deutscher‐Menzies, Sotheby's and Christies are generally associated with higher prices.

Research limitations/implications

The returns on a buy‐and‐hold strategy in the Australian art market are at least comparable to the Australian stock market. While total risk is greater, the very low market risk found in almost all artistic portfolios is suggestive of the possible benefits of portfolio diversification through art investment. Moreover, a number of artist's works offer very superior market and non‐market risk‐adjusted performance.

Originality/value

This is the first Australian study to construct measures of risk, return, β and Sharpe and Treynor ratios for individual Australian artists.

Details

Accounting Research Journal, vol. 21 no. 1
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 8 December 2020

Joaquim Rius-Ulldemolins and Ricardo Klein

During the twentieth and twenty-first centuries, debate about the governance and management of national cultural institutions has largely focused on the problematic…

Abstract

Purpose

During the twentieth and twenty-first centuries, debate about the governance and management of national cultural institutions has largely focused on the problematic relationship between art and the economy. However, several more recent changes have made this discussion outdated. These include loss of autonomy in the art world, transformation of cultural production and distribution and instrumentalisation of cultural policies to generate a new context leading to the emergence of art managers.

Design/methodology/approach

In terms of cultural policy, the interplay between the governance and management of national cultural institutions is currently problematic, with the work of art managers now replacing the previous “art versus economy” binomial. Here, we demonstrate the growing centrality of the governance paradigm and generation of public value in the local context, by qualitatively examining the discourses of politicians and national cultural institution managers in Barcelona.

Findings

We concluded that a new interface between policymakers and managers has appeared in twenty-first century cultural institutions, and that this has replaced the previous antagonism between artistic directors and managers. Finally, although there is a consensus that the objective of national cultural institutions should be to enhance public value, we also identified the presence of a symbolic battle over how this public value is defined and who should evaluate it.

Originality/value

This paper reveals the centrality of this new debate: policymakers and managers have developed discourses and strategies so that their vision of public value now predominates. In turn, this debate has become the new “battlefield” of cultural policy and reflects a rebalancing between the artistic and political spheres.

Details

International Journal of Public Sector Management, vol. 34 no. 1
Type: Research Article
ISSN: 0951-3558

Keywords

Content available
Article
Publication date: 17 March 2020

Anders Rykkja, Ziaul Haque Munim and Lluis Bonet

Due to the unique nature of the Cultural and Creative Industries (CCIs), the impact of crowdfunding on them is more significant than on other industries. This study…

Abstract

Purpose

Due to the unique nature of the Cultural and Creative Industries (CCIs), the impact of crowdfunding on them is more significant than on other industries. This study investigates the association between crowdfunding campaigns in four different categories of cultural production and each campaign promoter's decision regarding platform choice.

Design/methodology/approach

We classified cultural productions according to the Cultural Enterprise Framework. We collected data from 1,465 successful, reward-based, culture crowdfunding campaigns from five Nordic countries (Denmark, Finland, Iceland, Norway and Sweden). We used binary logistic regression for estimation purposes.

Findings

We find that cultural productions with a high degree of cultural affinity are more likely to use a local platform, while cultural productions with a higher degree of complexity in production or with composite motives are more likely to use an international platform. Additionally, the funding goal and the platform's financing model affect the probability of using an international platform.

Originality/value

Our finding is that there is a relationship between cultural production type and crowdfunding platform choice, and that these choices can be crucial for campaign promoters. Based on the findings and empirical setting, there is evidence that campaign promoters of cultural productions with a cultural affinity orientation may choose to use local platforms, while promoters of projects with complex production requirements or composite motives for using crowdfunding similarly may tend to opt for international platforms. We also propose a framework for the categorisation of cultural productions.

Details

Baltic Journal of Management, vol. 15 no. 2
Type: Research Article
ISSN: 1746-5265

Keywords

Article
Publication date: 1 December 1996

Ian Colville and Laurie McAulay

There is a scene in a play by Euripides in which Medea, the central character, persuades Jason, her husband, to be the unwitting participant in her plot for revenge. This…

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Abstract

There is a scene in a play by Euripides in which Medea, the central character, persuades Jason, her husband, to be the unwitting participant in her plot for revenge. This scene illustrates a facet of finance and accounting expertise because it shows how narrative, including finance and accounting, provides ontological security; a belief in the security of reality and the predictability of outcomes. The Chorus in the play suggests that Jason is “so sure of destiny”. What makes the scene particularly interesting is that it carries a second meaning, which is absolutely clear to the audience, and which has tragic consequences, of which Jason is “so ignorant”. This possibility of a second meaning suggests dangers in accepting a superficial understanding of any narrative. In turn, this shows the need for a knowledge of the history and characters from which any single scene, or finance and accounting report or calculation, is constructed. Provides quotations from practitioners which illustrate ways in which they see finance and accountancy as narrative and the ways in which they succeed and fail to imbue any accounting scene with characters and history.

Details

Accounting, Auditing & Accountability Journal, vol. 9 no. 5
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 17 May 2013

Victoria L. Rodner and Elaine Thomson

This paper aims to deconstruct the validation process for contemporary art with a fresh take on the components and terminology of this process, here referred to as the art machine.

1787

Abstract

Purpose

This paper aims to deconstruct the validation process for contemporary art with a fresh take on the components and terminology of this process, here referred to as the art machine.

Design/methodology/approach

Existing literature is analysed and key theoretical aspects combined to support the theory that an art machine exists that may process contemporary art for legitimation, sustainability and market success.

Findings

Roles played by art professionals and institutions within what is pioneered in this paper as the art machine frequently overlap. Opportunities for success are maximised when and if artists, art schools, galleries, critics, auction houses, museums and collectors manage to work in unison towards the common goal of optimal symbolic and financial value for the contemporary art market.

Research limitations/implications

A clear and intelligible deconstruction of the art machine's interacting components should enable interested agents in both established and emerging art markets to better operate mechanisms towards short‐term marketing objectives and long‐term sustainability within the highly competitive and fluid art environment.

Originality/value

Existing literature recognises layered spheres of activity that may combine for success in an art market seeking increasing symbolic and financial value and sustainability. This article innovatively pictures the dynamic, interlocking mechanisms in this on‐going, one‐way process of turning inconspicuous raw materials into a valued end‐product: this is the art machine.

Details

Arts Marketing: An International Journal, vol. 3 no. 1
Type: Research Article
ISSN: 2044-2084

Keywords

Abstract

Details

Frontiers of Creative Industries: Exploring Structural and Categorical Dynamics
Type: Book
ISBN: 978-1-78743-773-9

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