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This chapter discusses how the real options theory can be useful for understanding the adoption of human resources management (HRM) practices. The authors review how the real options theory has provided insights into the processes through which firms manage uncertainties involved in the adoption of HRM practices. The authors offer propositions for future HRM research from the real options perspective. The authors contend that analyzing HRM practice adoptions through the lens of real options theory can enhance our understanding of the mechanisms through which firms choose which HRM practices to adopt and how they adjust the timing, scale, and methods of investment in these practices. Specifically, the authors suggest that differences in information relevant to valuation of HRM options are the source of distinct choices of HRM options across firms. Finally, the authors propose advancing knowledge on HRM practice adoptions by using a portfolio of options approach, as well as considering factors like competitors, path dependence, and switching options.

This paper aims to introduce the experience-dominant (Ex-D) logic model, which synthesizes the creation, perceptions and outcomes of Ex-D logic. It is designed to offer valuable insights for strategic managerial applications and future research directions.

Employing a qualitative approach by using eight selected product launch events from reviewed 100 event videos and 55 in-depth interviews with industrial managers to develop an Ex-D logic model, and data were coded and analysed via NVivo.

Results show that the firm’s Ex-D logic is operationalized as the mentalizing of the three types of customer needs (service competence, hedonic excitations and meaning making), the materializing of three types of customer experiences and customer journeys (service experience, hedonic experience and brand experience) and the moderating of three types of customer values (service values, hedonic values and brand values).

This study has implications for adding new insights into existing theory on dominant logic and customer experience management and also offers actionable recommendations for managerial applications.

This study sheds light on the importance of Ex-D logic from a strategic point of view and provides an organic view of the firm. It distinguishes firm perspective from customer perspective, firm experience from customer experience and firm journey from consumer journey.

This research aims to investigate the disciplinary functions of depositors and subordinated debt holders within Indonesia's dual banking system, examining the impact of regulatory changes on market discipline.

The study employs a comprehensive analysis of the dual banking system in Indonesia over 15 years. Utilizing a non-public dataset from the Financial Services Authority and the Indonesia Deposit Insurance Corporation, the study employs propensity score matching and difference-in-differences analysis.

The findings reveal distinct patterns in the exercise of market discipline by depositors over different regulatory regimes. During the blanket guarantee regime (2002–2005), depositors lacked the incentive to monitor banks but resumed their disciplinary role under the limited guarantee regime (2005–2017). Islamic banks faced simultaneous market and regulatory discipline, with market discipline prevailing.

This study contributes to the literature by providing novel insights into the interplay between regulatory changes, market discipline and depositor behavior within Indonesia's dual banking system. The utilization of a comprehensive non-public dataset from regulatory authorities adds to the originality of the research.

The empirical results of the pivotal relationship between big data analytics capability (BDAC) and firm innovation remain inconclusive, necessitating a comprehensive understanding of the mediator and moderator through which firms can realize the potential innovation benefits of BDAC. Invoking the indirect perspective of dynamic capability theory, we constructed a moderated mediation model in which organizational learning mediates the impact of BDAC on firm innovation; the mediation effect of organizational learning is contingent upon market orientation.

Our hypotheses were tested using hierarchical regression and bootstrapping methods with a sample of 227 large- and medium-sized manufacturing firms in China.

The results reveal that both exploratory and exploitative learning fully mediate the link between BDAC and firm innovation. The mediation effect of exploitative learning is positively contingent upon market orientation; however, market orientation does not positively moderate the mediation effect of exploratory learning.

Our moderated mediation model is one of the first to provide a fine-grained understanding of the process through which BDAC is transformed into firm innovation as well as the conditions under which this mediating mechanism may work effectively, thereby further elucidating the theoretical black box regarding the BDAC-firm innovation link and resolving existing debates in the literature regarding why BDAC does not always yield positive outcomes.

This study assessed the antecedents and consequences of tourists’ authenticity experience in a new ancient town in China. Based on Chinese cultural background and case study, this paper aims to explore this kind of tourism place making and establishes an empirical model to examine and verify the impact of tourists’ perception, authentic experience and behavioral tendency on such place making, and proposes targeted improvement measures.

Based on a Chinese cultural background and case study, this paper explored a certain kind of tourism place making and established an empirical model to examine and verify the impact of tourists’ perceptions, authentic experiences and behavioral tendencies on such place making; the goals were to try to create a new scale to measure the authenticity of the “new ancient town” in the Chinese context and to propose targeted measures for improvement.

Research shows that Chinese visitors acquire experiences that they perceive to be authentic when visiting a contrived attraction such as a new ancient town. The dimensions of cultural, functional, product, value and unique authenticity were identified as distinct dimensions of tourists’ authenticity experiences in a new ancient town. Although these dimensions have been mentioned at times in the context of traditional Western assessments of authenticity, they do not replicate exactly any category of Western objective authenticity, existential authenticity, constructive authenticity or postmodern authenticity. They instead constitute an authentic experiential dimension in a typical oriental context, which is comprehensively explicated by combining the image of a national cultural theme and the elements of functional construction created by tourist places in a new ancient town.

This study explored the path relationship among perception of place making – authenticity experience – behavioral intention, but it did not analyze relationships among the dimensions of perception of place making or among the authenticity experience variables. Furthermore, advantage was not taken of the availability of socioeconomic information to look for differences among interviewees with different attributes. In addition, there is a profound cultural and complex theoretical connotation to authenticity in the Chinese context, and the study of a single case is insufficient to fully elucidate meaning in this emerging discourse.

By verifying the path of tourists’ authenticity experiences through the perception of place making, the understanding of the effects of different elements of place making on tourists’ experiences is refined. For space producers, different elements of place making promote tourists’ authenticity experiences to different degrees. Strengthening the construction of the physical environment, marketing and scenes can promote tourists’ authenticity experiences: planning and design, marketing and scene enhancements promote tourists’ functional authenticity experiences; planning and design, the physical environment and marketing enhance tourists’ product authenticity experiences; planning and design, marketing, the physical environment and scene enhancement can improve tourists’ perceptions of value; unique authenticity experiences can be created in the marketing and scenes in new ancient towns.

Certain aspects of the space production in new ancient towns can be used to strengthen tourists’ perceptions of value. First, the scene system at scenic spots can be strengthened, catering to tourists’ visual, olfactory and other senses so that they are available in all kinds of weather. Second, the local cultural characteristics of the material environment can be strengthened and the installation of inappropriate cultural symbols can be avoided. Thus, a physical environment that is of local ethnic cultural significance can be created so that both local residents and tourists can perceive the value of the place. Third, the rational layout of the new ancient towns should be established and maintained through the ongoing involvement of professional planning and design teams. Local cultural attributes that are of national significance should be included in the layout and design of the physical environment. Fourth, daily marketing and management actions influence how tourists influence scene value. Therefore, managers of scenic places need to make prudent decisions about and integrate local folk and ethnic characteristics into their marketing, which can promote the sustainable development of tourism effectively (Saarinen, 2018).

First, this study constructed and validated the model and path relationship of the “perception of place making, authentic experience, and behavioral intention,” and it confirmed that the perception of place making had an important impact on tourists’ authentic experiences. Second, the exploratory factor analysis extracted five dimensions of the tourist authenticity experience (i.e. cultural, functional, unique, product and value authenticity) based on China’s context of ming shi, which enriched the connotations of the authenticity experience. Third, this study effectively linked the perception of place making with the real experience and behavioral intention of tourists and expanded the theoretical research boundary of place making to a certain extent.

本文以中国文化背景和案例研究为基础, 对“新古镇”旅游的地方营造进行了探讨, 并建立了实证模型。利用SPSS 23.0和Smart PLS 3.0进行数据分析, 检验和验证游客在类似场所的地方营造感知、真实体验和行为意向的路径关系。

以现代技术手段再造（创造）遗产旅游目的地已经成为一个全球性的现象。本文基于中国的文化背景和案例, 考察和验证了游客对地方营造的感知、真实性体验和行为意向的影响, 尝试创造一种新的尺度来衡量在中国语境下“新古镇”的真实性内涵, 并以此提出了针对性的改善措施。

研究表明, 中国游客在参观新古镇等人造景点时, 会获得他们认为真实的体验。文化真实、功能真实、产品真实、价值真实和独特真实是新古镇游客真实性体验的不同维度。它们构成了一个典型东方语境下的真实性内涵, 全面阐述了一个民族文化主题形象与新古镇旅游地方营造功能建设要素的结合。

本研究探讨了地方营造知觉-真实性体验-行为意向之间的路径关系, 但未分析地方营造感知各维度之间及真实性体验变量之间的关系。此外, 没有利用社会经济信息的可用性来寻找不同属性受访者之间的差异。此外, 在中国语境中, 真实性有着深刻的文化内涵和复杂的理论内涵, 仅对单个案例的研究不足以充分阐明这一新兴话题的意义

对于空间生产者来说, 加强物理环境、营销和场景的建设可以促进游客的真实体验:规划设计、营销和场景的增强可以促进游客的功能真实体验;规划设计、物质环境、营销提升游客的产品真实性体验;规划设计、营销、实体环境和场景提升可以提升游客的价值感知;在新古镇的营销和场景中应创造独特的真实性体验。

新古镇地方营造的某些方面可以提升游客的价值感知。首先, 通过迎合游客的视觉、嗅觉和其他感官, 加强景区的场景系统。其次, 可以创造一个具有当地民族文化意义的物质环境, 使当地居民和游客都能感受到这个地方的价值。第三, 通过专业规划设计团队的持续参与, 建立和维护新古镇的合理布局。第四, 日常营销和管理行为影响游客的价值体验。

首先, 本研究构建并验证了“地方营造感知、真实体验与行为意向”的模型和路径关系, 证实了地方营造感知对游客真实体验的重要影响。其次, 基于中国语境, EFA提取了旅游真实性体验的五个维度(文化真实、功能真实、独特真实、产品真实和价值真实), 丰富了真实性体验的内涵。第三, 本研究将游客的地方营造感知、真实体验和行为意向进行了有效地连接。

Basándose en un contexto cultural chino y en un estudio de caso, este artículo exploró la creación de lugares turísticos en la “nueva ciudad antigua” y estableció un modelo empírico. Se utilizaron SPSS 23.0 y Smart PLS 3.0 para el análisis de datos, con el fin de examinar y verificar la relación entre las percepciones de la creación de lugares, las experiencias auténticas y las intenciones de comportamiento de los turistas en dichos lugares.

La recreación moderna de lugares como atracciones turísticas patrimoniales es un fenómeno mundial. Partiendo de un contexto cultural chino y de un estudio de caso, este artículo examina y verifica el impacto de las percepciones de los turistas, las experiencias auténticas y las tendencias de comportamiento en dicha creación de lugares; los objetivos eran intentar crear una nueva escala para medir la autenticidad de la “nueva ciudad antigua” en el contexto chino y proponer medidas específicas de mejora.

La investigación muestra que los visitantes chinos adquieren experiencias que perciben como auténticas cuando visitan una atracción artificial como una nueva ciudad antigua. Las dimensiones de autenticidad cultural, funcional, de producto, de valor y única se identificaron como dimensiones distintas de las experiencias de autenticidad de los turistas en una nueva ciudad antigua. Éstas constituyen una auténtica dimensión experiencial en un contexto típicamente oriental, que se explica de forma exhaustiva combinando la imagen de un tema cultural nacional con los elementos de construcción funcional creados por los lugares turísticos de una nueva ciudad antigua.

Este estudio exploró la relación entre la percepción de la creación de lugares, la experiencia de autenticidad y la intención de comportamiento, pero no analizó las relaciones entre las dimensiones de la percepción de la creación de lugares, ni entre las variables de la experiencia de autenticidad. Además, no se aprovechó la disponibilidad de información socioeconómica para buscar diferencias entre entrevistados con distintos atributos. Adicionalmente, en el contexto chino, la autenticidad tiene profundas connotaciones culturales y teóricas complejas, y el estudio de un solo caso no basta para dilucidar plenamente la importancia de este tema emergente.

Para los productores de espacios, reforzar la construcción del entorno físico, el marketing y las escenas puede promover las experiencias de autenticidad de los turistas: la planificación y el diseño, el marketing y la mejora de las escenas promueve las experiencias de autenticidad funcional de los turistas; la planificación y el diseño, el entorno físico y el marketing mejoran las experiencias de autenticidad de los productos de los turistas; la planificación y el diseño, el marketing, el entorno físico y la mejora de las escenas pueden mejorar la percepción de valor de los turistas; se pueden crear experiencias de autenticidad únicas en el marketing y las escenas de las nuevas ciudades antiguas.

Ciertos aspectos de la creación de lugares en las nuevas ciudades antiguas pueden mejorar la percepción de valor de los turistas. En primer lugar, puede reforzarse el sistema escénico de los lugares de interés, atendiendo a los sentidos visuales, olfativos y de otro tipo de los turistas. En segundo lugar, se puede crear un entorno físico que tenga un significado cultural étnico local para que tanto los residentes locales como los turistas puedan percibir el valor del lugar. En tercer lugar, el trazado racional de las nuevas ciudades antiguas debe establecerse y mantenerse mediante la participación continua de equipos profesionales de planificación y diseño. En cuarto lugar, las acciones diarias de marketing y gestión influyen en la experiencia de valor del turista.

En primer lugar, este estudio construyó y validó el modelo y la relación entre la “percepción de la creación de lugares, la experiencia auténtica y la intención de comportamiento,” lo que confirmó la importante influencia de la percepción de la creación de lugares en la experiencia auténtica de los turistas. En segundo lugar, basándose en el contexto chino, el análisis factorial exploratorio extrajo cinco dimensiones de la experiencia de autenticidad turística (autenticidad cultural, funcional, única, del producto y del valor), que enriquecieron las connotaciones de la experiencia de autenticidad. En tercer lugar, este estudio vinculó eficazmente las percepciones de los turistas sobre la creación de lugares, con la experiencia real y con las intenciones de comportamiento de los turistas.

Preferential market access is a pillar of the enabling clause in international trade, and as such has received scholarly attention in the recent past. This study aims to empirically examine intensity and utilisation of Uganda’s preferential market access.

Secondary data at the six-digit level of the harmonised system was sourced from the International Trade Centre’s and UN COMTRADE’s Trade Map database on trade flows to compute; trade intensity indices, Balsa’s revealed comparative advantage (RCA) indices and the existing potential trade. The time period was 2013–2022.

It is evident that Uganda is not taking full advantage of its preferential market access. The findings of the trade intensity analysis revealed that the strength of trade relations between Uganda and its preferential markets has been consistently weak in the period 2013–2022, while the intensity of trade relations with its FTA partners has been strong. The RCA results revealed that all Uganda’s agricultural exports to its preferential markets have a comparative advantage, with exports of roses reporting an exceptionally high RCA relative to other agricultural exports. The RCA results also show that the comparative advantage of Uganda’s coffee exports recovered after a significant fall in the period 2014–2022. The analysis of the existing potential for trade reveals a disproportionally low market share held by Uganda across all product lines, notably, only 2.3% of the US$29bn coffee imports in its preferential markets.

One limitation of this study is that it primarily relied on quantitative data from the International Trade Centre and thus lacks an exhaustive understanding of the circumstances at the export firm level. Qualitative data, such as interviews with exporters and policymakers, could provide deeper insights into the specific challenges and opportunities faced by Ugandan businesses in these markets.

This paper highlights the need for additional trade facilitation measures to address preferential market access bottlenecks such as stringent rules of origin and call for an aggressive government intervention in enhancing the export readiness of SMEs in Uganda. In addition, the paper is informative to Uganda’s exporters regarding the existing and potential increase in their exports to international markets.

The strength of Uganda’s trade relations with its preferential markets is empirically examined in this paper and provides useful insights for enhancing utilisation of preferential market access by beneficiary countries.

The purpose of this paper is to examine the influence of urban homeowners’ green perceived values (i.e. green functional, emotional, ecological and aesthetic values) on their greening behavioural intention. The study further tested the mediating role of green attitude in the relationship between the green perceived value dimensions and greening intention through the theoretical lens of the customer value theory (CVT) and the theory of planned behaviour (TPB).

A quantitative survey design was employed for this study. Empirical data were drawn from 501 households in Ghana using a purposive sampling technique. The hypothesized relationships were analysed using structural equation modelling.

The results of this study revealed that urban homeowners’ intention to adopt greening behaviour is directly influenced by their perception of green functional, ecological and aesthetic values. In addition, the study found that green attitude partially mediated the links between homeowners’ green functional, ecological and aesthetic values and their greening intention. Green emotional value on the other hand did not have a significant direct effect on homeowners’ greening intention. However, it had an indirect effect on greening intention through green attitude. Thus, we can conclude that green attitude fully mediated urban homeowners’ perception of green emotional value and their greening intention.

To the best of the authors’ knowledge, this study is among the first to attempt to integrate the CVT and the TPB to understand urban homeowners’ greening intention. The study which focuses on Ghana provides new insights into the pathway for promoting voluntary greening behaviour within a developing country

Organizational scholars studying compensation often place an emphasis on certain employee groups (e.g., executives). Missing from this discussion is research on the compensation systems for low-wage jobs. In this review, the authors argue that workers in low-wage jobs represent a unique employment group in their understanding of rent allocation in organizations. The authors address the design of compensation strategies in organizations that lead to different outcomes for workers in low-wage jobs versus other workers. Drawing on and integrating human resource management (HRM), inequality, and worker literatures with compensation literature, the authors describe and explain compensation systems for low-wage work. The authors start by examining workers in low-wage work to identify aspects of these workers’ jobs and lives that can influence their health, performance, and other organizationally relevant outcomes. Next, the authors explore the compensation systems common for this type of work, building on the compensation literature, by identifying the low-wage work compensation designs, proposing the likely explanations for why organizations craft these designs, and describing the worker and organizational outcomes of these designs. The authors conclude with suggestions for future research in this growing field and explore how organizations may benefit by rethinking their approach to compensation for low-wage work. In sum, the authors hope that this review will be a foundational work for those interested in investigating organizational compensation issues at the intersection of inequality and worker and organizational outcomes.

This study aims to explore and segment consumer preferences for electric and hybrid vehicles in Germany, Sweden, the Netherlands and Turkey, focusing on understanding the various factors that influence consumer decisions in these markets.

Using latent class analysis (LCA) on data collected through online surveys and discrete choice experiments, this research categorizes consumers into distinct segments. The approach allows for a nuanced understanding of how various factors such as income level, fuel cost, age, CO₂ emissions, purchase price, vehicle range, policy policies and environmental concerns interact with shape consumer preferences.

The analysis uncovers significant heterogeneity in consumer preferences for electric and hybrid vehicles across Germany, Sweden, the Netherlands and Turkey, revealing four key segments: “Eco-Driven Innovators,” “Value-Focused Pragmatists,” “Tech-Savvy Early Adopters” and “Reluctant Traditionalists.” “Eco-Driven Innovators” prioritize environmental benefits and are less sensitive to price, demonstrating a strong inclination toward vehicle CO₂ emissions and policy policies. “Value-Focused Pragmatists” weigh economic factors heavily, showing a sharp interest in fuel costs and purchase prices but are open to considering electric and hybrid vehicles if they present clear long-term savings. Technology-savvy early adopters are attracted by the latest technological advancements in vehicles, regardless of the type, and are motivated by factors beyond just environmental concerns or cost savings. Lastly, “Reluctant Traditionalists” exhibit minimal interest in electric and hybrid vehicles due to concerns over charging infrastructure and upfront costs. This detailed segmentation illustrates the diverse motivations and barriers influencing consumer choices, from governmental policies and environmental concerns to individual financial considerations and technological appeal.

This study stands out for its pioneering application of LCA to dissect the complexity of consumer preferences for electric and hybrid vehicles, a methodological approach not widely used in this research domain. Using LCA, the authors are able to uncover nuanced consumer segments, each with distinct preferences and motivations, providing a depth of insight into market dynamics that traditional analysis methods may overlook. This approach enables a more granular understanding of how diverse factors – ranging from environmental concerns to economic considerations and technological attributes – interact to shape consumer choices in different countries. The findings not only fill a critical gap in the existing literature by mapping the intricate landscape of consumer preferences, but also offer a novel perspective on strategizing market interventions. Therefore, the application of LCA enriches the discourse on sustainable transportation, offering stakeholders, manufacturers, policymakers and researchers – a refined toolkit for navigating the evolving market dynamics and fostering the adoption of electric and hybrid vehicles.

We propose an alternative rationale for why some firms employ veterans, driven not solely by benevolence but also by the prospect of enhanced outcomes. Financially, hiring veterans could correlate with improved stock market performance for the hiring company while aligning with corporate social responsibility (CSR) initiatives. Our study centers on the stock market performance of companies hiring veterans. It aims to underscore a lesser-known facet of the veteran employment discourse and its connection to the hiring firm's financial performance.

This paper evaluates the stock market performance of three VETS portfolios (made of companies that hire veterans) compared to the benchmark SPDR S&P 500 ETF. Using a modular approach, we create three VETS passive indices: VETSEW (equal-weighted index), VETSPW (price-weighted index) and VETSVW (value-weighted index). The study analyzes the annual returns, portfolio allocations, risk-adjusted performance metrics and style analysis of the portfolios from January 1, 2020, to December 31, 2022.

The findings indicate that all three VETS portfolios outperformed the benchmark, with higher ending balances and superior risk-adjusted ratios such as the Sharpe and Sortino ratios. Notably, the portfolios demonstrated resilience during challenging periods, including the COVID-19 pandemic, subsequent recovery and an inflationary period.

Limitations include the paper's focus solely on stock returns, suggesting a need for broader financial and management ratios. Moreover, a deeper exploration into how veterans contribute during turbulent times is suggested for further investigation. Although the study touches upon the financial performance of veteran-focused companies during challenging economic times, it does not extensively delve into the specific ways in which veterans add value under such circumstances, presenting an opportunity for further exploration.

Firms that employ veterans amid the COVID-19 pandemic demonstrate favorable risk-adjusted returns, underscoring the potential of veterans as valuable crisis-time assets. Our research further underscores the correlation between veteran hiring and enhanced financial prowess. These insights carry significant policy implications, including CSR initiatives for hiring veterans, skill translation and training and collaboration with veteran organizations.

The paper's findings suggest significant implications: (1) Policymakers could incentivize firms to hire veterans through tax benefits or grants, leveraging their skills for organizational resilience. (2) Collaborative efforts between policymakers and firms can promote responsible hiring, boosting a company's reputation through diversity and inclusion, positively impacting society. (3) Support for skill translation from military to civilian jobs is crucial. Programs certifying skills and tailored education aid veterans' successful transition into the workforce. (4) Collaborations between policymakers, veteran organizations and private sector entities can create networks, job placements and support systems for veterans' employment.

Numerous prior studies within the domain of corporate social responsibility have predominantly neglected the contributions veterans offer to businesses and the underlying reasons behind firms' decisions to employ them. Our research uniquely concentrates on the stock market performance of companies that choose to hire veterans.