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Two questions guide this study: “Do two crisis history types (i.e. organization-specific vs industry-wide) have the same effect on publics’ perception of the organization in a crisis?” And “Is there any significant difference in public responses between the high and low levels of issue involvement?” The paper aims to discuss these issues.

A two organization-specific crisis history (frequent vs infrequent) × two industry-wide crisis history (frequent vs infrequent) × two consumer issue involvement (high vs low) between-subjects experimental design was employed.

This experiment suggests that an industry-wide crisis history can mitigate negative damages of a crisis, while an organization-specific crisis history intensifies the damages. This indicates that crisis history types should be considered as an important factor when diagnosing appropriate crisis response strategies during crisis. This study also identifies a stronger negative impact of an organization-specific crisis history among highly issue-involved publics than less involved publics.

This study extends situational crisis communication theory by identifying the buffering impact of an industry-wide crisis history and adding crisis history type as an influencer in the process of the publics’ crisis responsibility attributions.

This study explores the interaction effects of organizational conflict history and employees' situational perceptions of COVID-19 on negative megaphoning and turnover intention.

Survey data (N = 476) were collected from US citizens, who self-identified as full-time employees, through Amazon Mechanical Turk (MTurk) in August 2020.

Organizational conflict history (i.e. highly conflict-prone vs less conflict-prone workplaces) interacts with employees' situational perceptions of COVID-19 (i.e. inactive vs active publics) in affecting employees' negative megaphoning and turnover intention toward their organizations. Employees who are active publics on COVID-19 in highly conflict-prone workplaces reported the highest negative megaphoning and turnover intention. On the contrary, employees who are inactive publics on COVID-19 in less conflict-prone workplaces reported the lowest negative megaphoning and turnover intention.

COVID-19 is an uncontrollable, exogenous crisis for organizations. While it is expected that employees in highly conflict-prone workplaces would report higher negative megaphoning and turnover intention, this study found that employees' situational perceptions of COVID-19 would further exacerbate the effects. This finding reflects the importance of managing organizational conflicts continuously and preemptively while also segmenting and cultivating relationships with employees based on their situational perceptions of issues and crises.

This study identified the significance of the interaction of cross-situational factors (e.g. employees' recollection of organizational conflict history) and situational factors (e.g. employees' situational perceptions of issues) in affecting employees' negative behavioral intentions in crisis situations, even if the crises are exogenous and uncontrollable.

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

The purpose of this paper is to examine the role of prior-CSR reputation in protecting a company’s CSR reputation during product-harm crises and how it influences consumers’ crisis-related behavioral intentions (i.e. supportive communication, resistance to negative information and crisis resiliency). The authors test whether the impact of prior-CSR reputation differs by crisis type as well.

A randomized 2 (CSR reputation: good vs bad) × 2 (product-harm crisis type: tampering vs preventable) full factorial design in two industry settings (food industry and retail industry) with consumer samples was conducted.

The results revealed the determinant role of positive prior-CSR reputation in protecting reputational assets. A company with positive CSR reputation experiences no decrease in its CSR reputation during victim crises and fairly minor decreases during preventable crises. However, a company with a bad prior-CSR reputation experiences a greater decline in its CSR reputation across both crises; the level of decline during victim crises was as substantial as the decline experienced during a preventable crisis. The prior-CSR reputation directly affects consumers’ crisis-related intentions, and indirectly does so through post-CSR reputation. As post-CSR reputation becomes more positive, consumers display greater resistance to negative information, supportive communication intent and crisis resiliency.

This study advances the understanding of the role of corporate reputation during crises and provides additional empirical evidence of how the buffering effect of CSR can extend beyond product-related intentions among consumers. The findings can induce companies to adopt CSR programs more systematically and proactively under a long-term strategic plan.

This study aims to examine the venture capital (VC) industry in China. It has demonstrated a history of high growth with significant variations over time. The authors have examined the trends and determinants of VC investments in China over a 20-year period from 1995 to 2014. They find that the aggregate amount of VC investments, the total number of venture deals and the average amount of venture investments per deal in China are all significantly impacted by macroeconomic conditions (i.e. GDP, export, money supply), technology innovations and financial market indicators (i.e. initial public offerings (IPOs), interest rate, price-to-earnings ratio, etc.). They also find that the 2007 China A-Share stock market crash and the subsequent global financial crisis have motivated VCists in China to adjust their investment strategies and risk levels by allocating more capital to later-stage investments and securing more deals with later-round financings. However, after the 2008 global financial crisis, the China’s venture industry has recovered faster compared to the US counterpart response.

The authors first perform trend analysis of VC investments at an aggregate level, by stages of development, and across industry from 1995 to 2014.To test H1 and H2, the authors use multiple regression models with lagged explanatory variables. To test H3, the authors use univariate tests to compare the measures of VC investments at an aggregate level, stage funds ratios, stage deals ratios and financing series ratios during both a five-year and seven-year time windows around the 2007 A-Share stock market crash and the subsequent financial crisis.

The development of the VC industry in China has demonstrated a history of high growth with significant variation over time. The authors find that the aggregate amount of VC investments, the total number of venture deals and the average amount of venture investments per deal in China are all significantly impacted by macroeconomic conditions (i.e. GDP, export, money supply), technology innovations and financial market indicators (i.e. IPOs, interest rate, price-to-earnings ratio, etc.). The authors also find that the 2007 China A-Share stock market crash and the subsequent global financial crisis have motivated VCists in China to adjust their investment strategies and risk by allocating more capital to later-stage investments and securing more deals with later-round financings. However, the China VC industry has recovered faster compared to the USA just after the 2008 global financial crisis.

There are also limitations in the study. The VC data in China in the earlier 1990s might not be very reliable due to the quality of statistics. Therefore, the trend analysis and discussions mainly focus on the time after 2000. Also, the authors cannot find VC financing sequence data for the analysis. Second, there is no doubt that the policy impact from Chinese transforming economic system and government policies on its VC industry is substantial (Su and Wang, 2013). However, they cannot find an appropriate variable to be included in the empirical models to consider this effect. Further study on this area would provide meaningful information. Third, although the authors have done comparison study between the VC industry in China in this study and the VC industry in the US documented in Ning et al. (2015) and discussed some interesting findings, more in-depth research in this area will be very useful.

The findings have meaningful implications for VCists and start-up companies seeking equity financings in China. VCists should closely monitor macroeconomic and market conditions to make appropriate adjustments to their risk and investment strategies. Entrepreneurs seeking equity financings for their business could also monitor the identified macroeconomic and market indicators, which can help them with their timing and to negotiate a better equity financing deal. VC financing is more likely to succeed when key macroeconomic and market indicators become favorable.

This paper contributes to the literature by testing the supply and demand theory on the VC market proposed by Poterba (1989) and Gompers and Lerner (1998) from the macroeconomic perspective using 20 years’ VC data from China. The authors also examine how the 2007 A-Share stock market crash and the subsequent financial crisis affected VCists to adjust their risk levels and investment strategies. It provides useful information for international academia and policymakers to understand the quick rise of China VC industry. The authors also find that the macroeconomic drivers of VC industry are somewhat different under different economic systems.

We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England’s contractionary monetary policy actions taken in 1906 and 1907 through the medium of copper prices. Results from our vector autoregressive models and copper stockpile data support our argument that a copper commodity price channel may have been active in transmitting the Bank’s policy to the New York markets. Archival evidence suggests that the plunge in copper prices may have partially triggered both the initiation and the failure of an attempt to corner the shares of United Copper, and in turn, the bank and trust company runs related to that transaction’s failure. We suggest that the substantial short-term uncertainties accompanying the development of the copper-intensive electrical and telecommunications industries likely played a role in the plunge in copper prices. Additionally, we find evidence that the copper price transmission mechanism was also likely active in five other countries that year. While we do not argue that copper caused the 1907 crisis, we suggest that it was an active policy transmission channel amplifying the classic effect that was already spreading through the money market channel. If the bust in copper prices partially triggered the 1907 panic, then it provides additional evidence that contractionary monetary policy may have had an unintended, adverse consequence of contributing to a bank panic and, therefore, supports other recent findings that monetary policy deliberations might benefit from considering the policy impact on asset prices.