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The purpose of this paper is to extend the knowledge on business model transformation (BMT) by developing an integrative framework for BMT dilemmas, including strategies for shaping and stabilizing market structures.

The study uses a case-based approach, with data from the Swedish electric utility industry.

The findings uncover practices related to both shaping and stabilizing market structure. The study contributes with insights for firms to overcome the BMT dilemma. Shaping strategies involve disruptive innovations while stabilizing strategies concerns incremental improvements in existing structures; by balancing these efforts, firms can find ways toward successful BMT.

With a focus on incumbent firms and the balancing act of BMT in a network, the study covers areas that have scarcely been addressed in the existing literature. Even though most business model literature has focused on shaping consumer markets, the need to consider BMT as a dual-directional process in an industrial context is emphasized in this study.

The purpose of this paper is to investigate an unexplored part of advertising history; namely, the education of a large, mundane, nonelite group of advertising professionals, so-called advertising technicians and the knowledge they acquired. Examining correspondence courses in the technology of advertising, we focus particularly on the production of technified knowledge and mass personas.

The study is based on a qualitative analysis of course material from Sweden’s two largest correspondence schools in the 1930s and 1940s. Two theoretical concepts guide the analysis: the concept of market devices and the notion of personas, both of which we use to show how the courses crafted a particular kind of advertising professional as well as knowledge.

The study shows that courses created a template-based persona of the advertising technician, who possessed what we call bounded originality characterized by diligence, modesty and rule-governed creative imagination. Similarly, the courses created a body of knowledge that was controllable and highly practice-oriented. The advertising technician was expected to embody and internalize the advertising knowledge, thus, becoming an extension of this knowledge on the market.

By directing the searchlight at the cadre of ordinary, middle-class advertising professionals instead of the high-profile “advertising creatives” and innovators, the paper brings to the foreground the nonelite level of the advertising industry. These practitioners went to work in the business world to produce the everyday advertising that was not necessarily groundbreaking but was needed in a growing mass-consumption society.

Drug checking is a popular method to reduce risks of drug use. In many countries, including Finland, legislation restricts implementing drug checking. The aim of this study was to explore whether some benefits of drug checking could be achieved by substance residue analysis.

Drug paraphernalia (mostly empty plastic bags) were used in the study. Participants left a sample and information about the former content to a local needle exchange point. After laboratory analysis, participants could return for the results and a short consultation on the substance(s) found. Afterward, participants were asked whether they would still use the batch.

Ninety-eight samples were received. In most cases, the samples had originally been sold as amphetamine (n = 39). Overall, laboratory results matched with supposed content in 52 cases, but in 21 cases, the sold content had been altered, in 17 cases, only other psychoactive substances were found and in 8 cases, no traces of psychoactive substances were found. Participants returned for results in two-thirds of the cases. When the laboratory result did not match participants’ expectations, the majority of participants estimated they would not use the same batch (17/25) or would use it in a different way (2/25).

While reports on drug checking are numerous, studies exploring possibilities to achieve harm-reducing benefits of drug checking by analyzing drug residues are scarce. The results of this pilot study suggest some benefits of drug checking can be achieved by substance residue analysis.

Virtual assistants are increasingly used for persuasive purposes, employing the different modalities of voice and text (or a combination of the two). In this study, the authors compare the persuasiveness of voice-and text-based virtual assistants. The authors argue for perceived human-likeness and cognitive load as underlying mechanisms that can explain why voice- and text-based assistants differ in their persuasive potential by suppressing the activation of consumers' persuasion knowledge.

A pre-registered online-experiment (n = 450) implemented a text-based and two voice-based (with and without interaction history displayed in text) virtual assistants.

Findings show that, contrary to expectations, a text-based assistant is perceived as more human-like compared to a voice-based assistant (regardless of whether the interaction history is displayed), which in turn positively influences brand attitudes and purchase intention. The authors also find that voice as a communication modality can increase persuasion knowledge by being cognitively more demanding in comparison to text.

Simply using voice as a presumably human cue might not suffice to give virtual assistants a human-like appeal. For the development of virtual assistants, it might be beneficial to actively engage consumers to increase awareness of persuasion.

The current study adds to the emergent research stream considering virtual assistants in explicitly exploring modality differences between voice and text (and a combination of the two) and provides insights into the effects of persuasion coming from virtual assistants.

The purpose of this study is to provide an in-depth understanding of the B2B customers’ perspective regarding salespeople’s social media use.

The study adopts a qualitative approach based on semi-structured interviews with 26 key informants performing their job in customer role in various industries.

The authors inductively identify five themes regarding the B2B customers’ perspective of social media use in B2B selling. These themes allow for valuable implications for social selling activities and expected outcomes.

Against a growing body of literature on drivers, best practices and outcomes of social media use by B2B salespeople, less attention has been paid to the customer’s side. The authors extend current research by providing a more complete picture of social selling activities and expected outcomes.

As of March 2021, the National Pension Service (NPS) is the world’s 3rd largest pension fund with 872.5tn won (KRW) in management. Recently, the NPS proposed a policy to gradually reduce the proportion of domestic stocks in the portfolio in the future. This change in the asset allocation strategy is related to the NPS’s exit strategy for domestic stocks. This study aims to examine the market impact cost asymmetry between buys and sells of the NPS and suggest a trading strategy for mitigating the market impact cost. The results are as follows. First, there is an asymmetry between buys and sells in the market impact cost of the NPS. The market impact cost of the NPS is gradually increasing over time. In particular, the market impact cost from selling has increased significantly in recent years. Second, past returns, volatility, liquidity and trading intensity can be found as external factors affecting the asymmetric market impact cost of the NPS. Although there is no difference between the buying and selling ratios of the NPS, the market impact cost from sells is relatively higher than that from buys. Third, after controlling for the order execution size of the NPS, the longer the trade execution period, the lower the market impact cost. This result implies that the strategy of splitting orders as a way to reduce the market impact cost is effective. The trading behavior of the NPS directly or indirectly affects other investors. If the sell of the NPS incurs excessive market impact cost, the negative impact on the stock price will be further exacerbated. Therefore, it is necessary for the NPS to reduce the market impact cost through split trading in executing orders in the domestic stock market. Findings of this study provide implications for countermeasures and long-term management strategies that can minimize the market impact cost of the NPS in the process of reducing the proportion of domestic stocks in the future.

The primary aim of revenue management (RM) is to sell the right product to the right customer at the right time for the right price. Ever since the deregulation of US airline industry, and the emergence of the internet as a distribution channel, RM has come of age. The purpose of this paper is to map out ten turning points in the evolution of Revenue Management taking an historical perspective.

The paper is a chronological account based upon published research and literature fundamentally drawn from the Journal of Revenue and Pricing Management.

The significance and success to RM is attributed to the following turning points: Littlewood’s rule, Expected Marginal Seat Revenue, deregulation of the US air industry, single leg to origin and destination RM, the use of family fares, technological advancement, low-cost carriers, dynamic pricing, consumer and price transparency and pricing capabilities in organizations.

The originality of the paper lies in identifying the core trends or turning points that have shaped the development of RM thus assisting futurists or forecasters to shape the future.

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. The purpose of this paper is to summarize the main content of Marx’s monetary theory from three aspects: the source and nature of money, the function of money and the historical significance of money.

Moreover, this paper also gives an extended understanding of Marx’s monetary theory from four perspectives: the endogenous credit mechanism of money, the functions of money and demands for money, the financial function of money and the economic and social functions of money.

Lastly, the present paper discusses the practical significance of Marx’s monetary theory from three perspectives, namely, the inspection of “Bitcoin” from the nature and function of money, the definition of demands and the division of supplies at the monetary level, and the prevention of systemic financial risks and the focus of financial supervision.

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. However, for a long time, the contribution of Marx has rarely been mentioned in the intellectual history of monetary theory. Even the book, Political Economy (On Capitalism), has been only summarily concerned with the source and function of money in Marx’s monetary theory, rather than revealing Marx’s outstanding contribution in the monetary theory and the financial connotation of Marx’s monetary theory, and expounding its practical significance.

In this exploratory multiple case study, we aim to compare the internationalization of two state-owned enterprises (SOEs) owned by subnational governments with three owned by central governments in Latin America. This study provides a contextualized answer to the question: What are the differences in the internationalization of subnationally owned SOEs compared to central SOEs? This study finds that the speed and diversification of these two types of SOEs’ internationalization differ because they have a different expansion logic. Subnationally owned SOEs have a gradual and diversified expansion following market rules. Central government’s SOEs are specialized and take more drastic steps in their internationalization, which relates to non-market factors.

This study builds an exploratory qualitative comparative case analysis that uses multiple sources of data and information to develop a comprehensive understanding of SOEs through process tracing.

The study posits some assumptions that are confirmed in the case analysis. This study finds relevant differences between sub-national (SSOEs) and central authority (CSOEs’) strategies. SSOEs’ fewer resources and needs to increase income push them to follow a gradual market-driven internationalization and to diversify abroad. CSOEs non-gradual growth is justified by non-market factors (i.e. national politics). CSOEs do not diversify abroad due to the broader set of constituencies they have to face.

Given the exploratory comparative case study of this research, the findings are bounded by the particularities of the cases and their region (Latin America). This paper and its findings can be useful for theory building but it does not claim any generalization capacity.

This study adds complexity into the SOEs phenomenon by distinguishing between different types of SOEs. This paper contributes to the study of subnational phenomena and its effect in SOEs’ internationalization process, which is an understudied topic. To the authors’ best knowledge, this is among the first studies that explore subnational SOEs in Latin America.