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This article identifies the concept of market value as a standardizing concept that coordinates the actions of market participants in relatively inefficient real estate markets. The paper also identifies different levels of discourse that reflect the organizational/institutional complexity of the real estate appraisal profession. The standardizing effect of market value includes a cognitive and fiduciary component. Using this framework, the paper traces the influence of Richard T. Ely’s institutional economics – and its legacy in the form of the research program of Urban Land Economics at the University of Wisconsin – on the formation and development of the standards of appraisal and ethical practice. This complexity is traced historically from the early part of the 19th century to the formation of the professional organizations and the establishment of their standards, and also through a series of reform efforts in the 1960s and 1980s that were articulated in the academic community. The paper illustrates the manner in which Institutional Economics has been influential in the continuing development of the real estate appraisal profession and suggests reasons for its continuing relevance.

The paper contributes to the debate on a general theory of markets. The purpose of this paper is to develop a market practice model based on social practice theories, and explore new ways of describing market boundaries.

A conceptual analysis of contemporary marketing directions and market theorizations provides a basis for defining markets and market boundaries in terms of social practices and their performances by market actors.

Based on the market performances held in place by institutional practices that define, contextualize and stabilize a market, this paper defines market boundaries by nine specific categories of practices, described here as parameters.

This is a conceptual paper. Future research using empirical evidence derived from situated investigations should endeavor to refine the model and practices that define market boundaries.

The paper provides a new conceptualization of markets and market boundaries from the social practice perspective, and advances contemporary market theorizing that puts services at the center of exchange. The paper offers managerial implications by describing alternative means for analyzing markets and developing corresponding competitive strategies. Furthermore, the conception of market boundaries as nine parameters provides insights beyond the geographic and price boundaries typically used to describe market limits and exchange processes when developing policy.

Knowledge transfer plays a key role in the succession process. While much attention has been given to the passing of business knowledge form incumbent to successor, less is known about the use of nonfamily knowledge during this most crucial of family business events. The purpose of this paper is to look how knowledge from nonfamily employees is treated at times of succession. Importantly, it considers how the controlling family’s cultural background may influence nonfamily knowledge use, and subsequent implications for the succession process.

An exploratory comparative case study design is adopted in order to uncover the complex social and cultural dynamics around knowledge use. Four case studies are presented from family businesses of different, and contrasting, cultural origins. Data were collected using semi-structured interviews, observations and formal secondary data from the organisations, all of whom operate in the UK.

Findings reveal a complex picture, part influenced by the cultural dynamics of the family and part by business necessity. Specifically, power–distance appears as an informative cultural dimension, influencing how knowledge is used and nonfamily are perceived. While some family businesses privilege the knowledge from family, others see the need to build knowledge relationships more broadly.

This paper provides further evidence to the heterogeneity of family businesses. It moves beyond a processual explanation of succession to develop a more contextually aware understanding of the dynamics and sensitivities involved.

The purpose of this paper is to examine and compare the influence of age, education, income, product involvement and sales promotion (SP) characteristics on consumer attitudes towards SP across eight culturally dissimilar environments.

A multi-country mall intercept and mail survey was conducted in Brunei, China, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore and Thailand (n=4,125 respondents).

Country, education level and income significantly influence consumer attitudes towards SP. Some countries show a significant monetary value interaction effect. Consumers using delayed-reward SPT reported a significantly more positive attitude towards SP. Discounts and coupons are the two most highly ranked SP across the sampled countries.

Limitations include the use of intercept and mail sampling. Extending the study to include additional Asian countries and other regions would benefit the understanding of cultural influences on SP.

Multinational marketing managers should consider three aspects of SP implementation strategy: cultural and demographic factors, interaction between delayed-reward SP and socio-demographics variables; country specific SP preferences to promote both sales and brand equity.

This study investigates and extends research on SP across cultures. In particular the research helps better understand the impact of demographic factors and culture on attitudes towards SP, and implementation of global promotions.

Despite the growing number of studies surrounding user-generated content (UGC), understanding of the implications, potential and pertinence of user-generated images (UGI), the visual form of UGC, on brand image in services is limited. The purpose of this paper is to introduce the concept and a comprehensive framework of image word of mouth (IWOM), which identifies UGI as visual articulations of service experiences that result in consumer judgment of service brand image. The framework takes a consumer-focussed approach and covers key branding issues relevant to services marketers such as identifying and linking valued services dimensions, made evident through IWOM, to ideas and thoughts inferred by consumers (viewers) of the brand image and consequent consumer intentions.

The paper reviews and synthesises current services, marketing and branding literature surrounding electronic word of mouth (WOM) and UGC, where it highlights the need to consider interpretations of UGI as persuasive forms of visual WOM or IWOM, as well as a critical stimuli of brand image.

The paper illuminates the importance of adopting a visual perspective that applies constructs developed in cognitive psychology, to decode how viewers (consumers) interact and form associations of brand image via IWOM.

The paper examines, integrates and adds to extant literature surrounding WOM, UGC, visual images and brand image within services.

This paper explores how consumer psychographics impact responses to sales promotions (SPs), and specifically whether equity sensitivity (ES) moderates attitudes towards sales promotion in the retail purchase experience (PE).

The study examines data from a survey of 284 Hong Kong consumers, using a shopping mall-intercept method. Every third person walking past the researchers was asked to participate in the survey. After obtaining their permission, those agreeing to take part in the study were surveyed either inside or outside of the shopping complex. The face-to-face intercept surveying method also increases confidence in sample and response reliability.

The study finds that ES has a significant positive relationship with evaluations of the retail PE. Consumers identified as “Benevolents” were significantly more positive towards SPs and reported significantly higher satisfaction with the PE. In contrast, consumers identified as “Entitled” were less positive towards SP and less satisfied with the PE. In addition, noncash SPs significantly positively influenced Benevolents' PE.

The current study extends and expands equity theory and ES research by applying these concepts to consumer SPs. The study is limited to an examination of common consumer purchases, across different product categories and SP types. While this allows us to examine the relationship between SP attitudes, ES and purchase satisfaction, future comparisons between individual sales promotion techniques (SPTs) and specific consumer profiles are recommended.

From a retail perspective, it is important to understand individual differences and what influences and motivates the consumers' retail PE. Retail managers are advised to track customer purchases and satisfaction levels linked to SPs as this would allow for the identification of which customers are more likely to fit the Entitled or Benevolent psychological profiles and predict their likely responses to SP offers.

To date, there has been little research on individual psychological differences between consumers when offered SPs at retail stores. The current study contributes to the marketing literature by extending the price fairness equity model to the retail PE, thereby addressing a prominent gap in the literature.

Legal process by its very nature cannot be swift; step by step, it must be steady and sure and this takes time. There is no room for hasty decisions for these would tend to defeat its purpose. Time, however, is of the essence and this is set for various aspects of legal action by limitation of actions legislation, which sets periods after which the case is no longer actionable. The periods are adequate and in civil law, generous to avoid injustice being done. The one serious complaint against the process of law, however, is the unwarrantable delays which are possible despite limitation. From the far‐off days of Equity, when Dickens' Jarndyce v Jarndyce, caricatured and exaggerated as it was, described the scene down to the present when delays, often spoken of in Court as outrageous are encountered, to say nothing of the crowded lists in the High Courts and Crown Courts; the result of the state of society and not the fault of the judiciary. Early in 1980, it was reported that 14,500 cases were awaiting trial in the Southeastern Circuit Crown Court alone. Outside the Courts legal work hangs on, to the annoyance of those concerned; from house purchase to probate. Here, the solicitor is very much his own master, unhampered by statutory time limits and the only recourse a client has is to change this solicitor, with no certainty that there will be any improvement, or appeal to the Law Society.

Expanding upon the special issue entitled “The special issue: AAAJ and research innovation”, published in 2012, this introduction to the second special issue of the genre is concerned with selected thematic special issues of AAAJ appearing during the second decade of publication from 1998 to 2007. The paper explores research innovation by means of the thematic issues addressed from this decade.

This paper provides a background to this special issue and an outline of the articles included. The issue features seven retrospective/prospective articles written by the guest editors of special thematic issues published during 1998 to 2007, supplemented where appropriate by other co-authors or, in one instance, by a new author team.

The guest editors and other contributing authors sought to identify and discuss the progression of each field since the AAAJ special issue was published, and to assess the impacts of the special issues to this progression, and to propose future research developments in the designated fields.

This commentary on articles published is no substitute for carefully reading these contributions. The papers provide a comprehensive review of key developments in the literature until most recently and explore the opportunities for further innovative interdisciplinary accounting research.

This AAAJ special issue, and the earlier 2012 prototype, constitute a different approach to producing special issues, where the original special issues are revisited with a view to assessing research trends and impacts and to identifying research developments which are ripe for pursuing in each of these interdisciplinary accounting fields.

This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.