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The authors analyze the relationship between different consumer attitudinal variables and a number of variables related to consumer perception of the store and purchasing behavior, in assortments composed exclusively of private labels (PLs).

The authors developed an experiment based on an online survey to test the hypotheses formulated. The model’s causal relationships are established using structural equations.

The image of stores that only offer their own brand is mainly configured by price consciousness and the attitude toward the private label. The private label purchase intention is strongly influenced by the store image and a favorable attitude toward the brand, and loyalty strategies should be aimed at securing a clear perception of providing real value.

For retailers who only offer their own brands, an assortment with price-competitive PLs is key to the strategy of differentiating them from other retailers. It is reasonable to assume that, if retailers have a favorable image, customers transfer this brand value to their PLs and trust them. Customer loyalty strategies of these retailers should be aimed at ensuring that consumers clearly perceive that their assortment provides real value and that, although it is limited in terms of number of brands, it can meet all their needs.

This research represents a significant contribution to brand management literature because, includes, together with loyalty to the store, its image and the PL purchase intention as consumer response variables. Another differentiating feature is the methodology used. Estimation of the structural equation model permits the simultaneous estimation of the relationships between the variables.

Analizamos la relación entre diferentes variables actitudinales de los consumidores y un número de variables relativas a la percepción de los consumidores con respecto al establecimiento y el comportamiento de compra, todo ello en surtidos compuestos exclusivamente por marcas de distribuidor.

Desarrollamos un experimento online, basado en una encuesta, para testar las hipótesis planteadas. Utilizamos ecuaciones estructurales para determiner las relaciones causales del modelo.

La imagen de los establecimientos que ofrecen exclusivamente su propia marca se configura, principalmente, por la conciencia de precio y por la actitud de los consumidores hacia la marca privada. La intención de compra de la marca de distribuidor está fuertemente influenciada por la imagen del establecimiento y por una actitud favorable hacia dicha marca, por lo que las estrategias de fidelización de clientes deberían estar orientadas a asegurar una clara percepción de proporcionar valor real a los consumidores.

Para los minoristas que ofertan exclusivamente sus propias marcas, un surtido con marcas de distribuidor muy competitivas en precio es fundamental en su estrategia de diferenciación de sus competidores. Además, es razonable suponer que si los minoristas cuentan con una imagen favorable, los consumidores trasladarán este valor de marca a sus propias marcas propias y confiarán en ellas. Las estrategias de fidelización de este tipo de minoristas deberían ir enfocadas a asegurarse de que los consumidores perciben claramente el valor real que aporta su surtido y que, aunque limitado en términos de número de marcas y alternativas, les permite cubrir todas sus necesidades.

Esta investigación supone una significativa contribución a la literatura sobre gestión de marcas al incluir, conjuntamente con la lealtad al establecimiento, su imagen y la intención de compra de la marca de distribuidor como variables respuesta del consumidor. Otro elemento diferenciador es la metodología empleada, ya que la estimación del modelo de ecuaciones estructurales permite la estimación simultánea de las relaciones entre las distintas variables.

This study aims to identify institutional work mechanisms that public actors employ in market shaping.

The paper uses an abductive theorizing process, combining a literature review with an empirical exploration of three different market-shaping contexts.

The study identifies 20 granular mechanisms of institutional work that market-shaping public actors employ. These mechanisms are all potentially employable in creating, maintaining or disrupting markets. Institutional work vis-à-vis individual institutions may differ in direction from the institutional work vis-à-vis the market system. Public actors are not a homogeneous group but may have different values and support competing institutional logics even when operating in the same market.

The empirical data were limited to three cases in three small open economies. Data collected from other markets and with other methods would provide more rigorous insight into market-shaping public actors.

The findings revealed institutional work mechanisms that public actors can use to shape markets. Companies wanting to engage public actors in market shaping should be aware of the values and institutional logics that influence market-shaping public actors.

The paper unites and expands on the scattered knowledge regarding institutional work in market shaping. It illuminates and dissects the role of public actors in market shaping, challenging the reactive stance that is often assigned to them. The study provides a better understanding of how conflicting market views affect markets. It also brings insights into the interplay between market-shaping actions and the multiple levels of market systems.

Entrepreneurship and leadership may flow from the same genealogical source and the appearance of separation of the two constructs may be due to differences in the contexts through which the root phenomenon flows. Entrepreneurship and leadership are figuratively different manifestations of the need to create. To better understand the origin of entrepreneurship and leadership, research must first focus on the combinations or hierarchy of traits that are necessary, but perhaps not sufficient, to stimulate the two constructs. Factors that trigger a drive to create or take initiative within the individual in the context of a particular circumstance should be identified, and the situational factors that move the individual toward more traditional leader or classic entrepreneurial-type behaviors need to be understood.

Research on cultural entrepreneurship has explored the role of language in making and giving sense to novel ventures and market categories and in legitimating them. We analyze how an emerging de novo market category, quantum computing, is constructed through the use of analogies and metaphors. Through a multimodal analysis of interview and newspaper data, we find that in addition to using analogies and metaphors to highlight familiarity, actors also use such tropes to expound the weirdness of the new category, thus marking it as profoundly different and novel. Such tropes have a dual function; they draw the boundaries between science and laypeople but also arouse awe and curiosity among the audiences. Our study thus casts light on the cultural work during de novo category emergence.

This paper aims to present an analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.

The study’s analysis has identified common structural flaws throughout the securitization food chain. These structural flaws include inappropriate incentives, the absence of punishment, moral hazard and conflicts of interest. This research sees the full impact of these structural flaws when considering their co-occurrence throughout the financial system. The authors address systemic defects in the securitization food chain and examine the inter-relationships among homeowners, mortgage originators, investment banks and investors. The authors also address the role of exogenous factors, including the SEC, AIG, the credit rating agencies, Congress, business academia and the business media.

The study argues that the lack of criminal prosecutions of key financial executives has been a key factor in creating moral hazard. Eight years after the Great Recession ended in the USA, the financial services industry continues to suffer from a crisis of trust with society.

An overwhelming majority of Americans, 89 per cent, believe that the federal government does a poor job of regulating the financial services industry (Puzzanghera, 2014). A study argues that the current corporate lobbying framework undermines societal expectations of political equality and consent (Alzola, 2013). The authors believe the Singapore model may be a useful starting point to restructure regulatory agencies so that they are more responsive to societal concerns and less responsive to special interests. Finally, the widespread perception is that the financial services sector, in particular, is ethically challenged (Ferguson, 2012); perhaps there would be some benefit from the implementation of ethical climate monitoring in firms that have been subject to deferred prosecution agreements for serious ethical violations (Arnaud, 2010).

The authors believe the paper makes a truly original contribution. They provide new insights via their analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.