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In the rapidly changing and globalizing environment, mergers and acquisitions (M&As) have become increasingly important. In this study, we paid specific attention to the voluntary announcements of M&A budgets by Japanese firms. We discussed the antecedents and consequences of such announcements by incorporating the context of Japan, which has experienced an enduring economic downturn since 1990 and is in the process of adopting a Western style of governance. Drawing on signaling theory and impression management theory, this exploratory study intended to contribute to the literature by incorporating the influence of the social context and by arguing for the possibility that announcements of M&A budgets may be used not only for strategic purposes but also for impression management and to reduce information asymmetry.

I. Introduction to the Study of the Economic Role of Government: Alternative Approaches to Law and Economics

The two sets of notes, taken only three years apart are substantially similar in organization and content. We document differences identified in a line-by-line comparison in Table 1. Generally, the 1996 course notes reproduced here more prominently feature the work of legal scholars, from Oliver Wendell Holmes to St. George Tucker. Curiously, many of these references were removed from the later version, as well as nearly all discussion on legal precedent established by Supreme Court cases. The overall effect of these changes is a marked shift away from a critical legal studies approach to the economic role of government and toward a more focused neoclassical lens.

The first Wisconsin Ph.D.s who came to MSU with an institutional bent were agricultural economists and included Henry Larzalere (Ph.D. 1938) whose major professor was Asher Hobson. Larzalere recalls the influence of Commons who retired in 1933. Upon graduation, Larzalere worked a short time for Wisconsin Governor Phillip Fox LaFollette who won passage of the nation’s first unemployment compensation act. Commons had earlier helped LaFollette’s father, Robert, to a number of institutional innovations.⁴ Larzalere continued the Commons’ tradition of contributing to the development of new institutions rather than being content to provide an efficiency apologia for existing private governance structures. He helped Michigan farmers form cooperatives. He taught land economics prior to Barlowe’s arrival in 1948, but primarily taught agricultural marketing. One of his Master’s degree students was Glenn Johnson (see below). Larzalere retired in 1977.

Constructivist grounded theory method (GTM) as outlined by Kathy Charmaz has its explicit roots in the American pragmatism and symbolic interactionism primarily developed at the University of Chicago during the early and mid-twentieth century. Symbolic interactionism considers people as active and interpretative agents who co-construct selves, identities, meanings, social actions, social worlds, and societies through interactions. Charmaz argues that symbolic interactionism is an open-ended theoretical perspective that fosters studying action, process, and meanings, with a focus on how people co-construct and negotiate meanings, orders, and actions in their everyday lives. In this chapter, I argue that constructivist GTM, including its theory-method package built upon symbolic interactionism and the Chicago School tradition, can be further combined with the new sociology of childhood to study children's social worlds and negotiated meanings, orders, and actions.

Though contemporaries, Adam Smith and Sir James Steuart are commonly portrayed as if they belonged to different eras. Whereas Smith went down in history as both founder of the science of political economy and patron saint of economic liberalism, Steuart became known as the last, outdated advocate for mercantilist policies in Britain. Smith himself was responsible for popularizing the notion of the “system of commerce” as an approach to political economy that dominated the early modern period. As a historiographical concept, the mercantile system became a misguided international trade theory grounded upon the Midas fallacy and the favorable balance of trade doctrine. Smith’s treatment of international trade in the Wealth of Nations, however, was criticized for its inconsistencies and lack of analytical clarity even by some among his own followers. Given Smith’s doubtful credentials as an international trade theorist, the chapter investigates the reasons that led him and Steuart to be placed on opposite sides of the mercantilist divide. The authors analyze the works of both authors in depth, showing that their disagreements had chiefly to do with different views on money and monetary policy. Additionally, the authors explore how early nineteenth-century writers such as Jean-Baptiste Say and J. R. McCulloch helped forge the intellectual profiles of both Steuart and Smith.

Athletes have leveraged their social platform and reach to advocate for a variety of social causes. Most recently, given the persistent impacts of climate change on sport, the sport sector has been leveraged to engage and educate fans, sport participants, and athletes to promote climate action while consuming sport and in their everyday lives. This chapter conceptualizes the term sport eco-activism and presents a rich history of the early stages of this form of activism and its interaction with sport. Specifically, we provide historical context and examples of how athletes and activist sport organizations (e.g., Surfers Against Sewage, Protect Our Winters) have drawn attention to the impacts of climate change on sport. We also highlight how these entities encourage spectators and participants to change their behaviors and further advocate for collective climate action. In addition, we offer insights on future directions of eco-activism within sport and how such activists can best resonate with their target audiences to create positive change through sport.

Ever since its introduction into the vernacular of imperial historiography over a half century ago, the concept of “informal empire” has had a profound influence on how historians have understood the size and nature of British expansion in the modern world. While offering a crucial corrective to definitions of empire that had focused exclusively on “formal” colonial holdings, such a division has also obscured other frameworks through which we might understand the contours of imperial power, while also underscoring traditional bifurcations between early modern and modern forms of empire. This paper suggests instead an approach that privileges schema that take into account the different institutional and constitutional forms that shaped imperial expansion, and specifically argues that the corporation was one such form, in competition with others including the monarchical and national state. Looking specifically at the early modern East India Company and its modern legacies, particularly George Goldie’s Royal Niger Company, it also suggests that institutional approaches that de-emphasize distinctions between behavioral categories, such as commerce and politics, allow the possibility of excavating deep ideological connections across the history of empire, from its seventeenth-century origins through the era of decolonization.