Search results

This chapter introduces the concept of stablecoins such as Tether, DAI, or Ampleforth. It also provides a taxonomy of the different types of stablecoins consisting of (1) traditional asset-backed stablecoins, (2) crypto-collateralized stablecoins, and (3) algorithmic stablecoins and seigniorage shares. The chapter continues with a brief history of stablecoins, starting from BitShares as the first stablecoin implementation over tether and market-wide stablecoin adoption to Facebook-initiated Diem. Next, the chapter explains the impact of stablecoins on cryptocurrencies and other markets and discusses trends and challenges facing stablecoins. The chapter provides a basic understanding of stablecoins, their defining characteristics, challenges, and markets.

The purpose of this paper is to enlighten the intriguing process of industry asset consolidation. It is critical for firms to manage their business acquisitions strategically for survival in this industry life cycle process, which develops through multiple company mergers. The companies extensively acquiring industry assets have utilized acquisition programs consisting of both pre-acquisition strategizing and post-acquisition integration; however, the existing literature on acquisition programs focuses on post-acquisition integration activities. This study aims to bridge this gap.

This study focuses on pre-acquisition strategizing of acquisition programs and proposes a model in which an acquiring company could manage its acquisitions for industry asset consolidation over the industry evolution.

Empirically, in the multi-case study of telecommunications infrastructure companies, the authors collect an extensive set of archival records accumulated over the whole industry life-cycle, spanning more than 30 years, and they apply a qualitative data analysis to reveal strategic actions within the companies.

The discoveries elaborate on activities comprising the acquisition process model: social legitimacy, strategic alignment, resource fulfillment, consolidation pursuit and merging.

The counterintuitive findings are that the companies strived to ensure legitimacy early in the telecommunication infrastructure markets before they reached strategic alignment with their owners.

The results extend the understanding of industry asset consolidation as an organization-level phenomenon and show how contextual factors connected to industry life-cycle phases, such as regulatory regimes and financial cycles and industry evolution, influence the attributions of an acquisition program.

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Without a stream of incrementally improved, or totally new, offerings to the markets, economies will stand little chance of survival and subsequent growth. Putting innovation investment on hold until “things get better” is not an option.

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

The purpose of this paper is to present the stages for manufacturing a low‐cost miniaturized prototype device, which observes the restrictions of implantable medical devices. The device measures the electrocardiography. The power for the implant is received passively as the same magnetic field as data is transferred to the reader device.

In this manufacturing technique, only easily attachable commercial available components are used, etching is used to simply produce a low‐cost double‐sided flexible printed circuit board which is converted to 3D by folding.

The circuit board was folded into the final shape after component attachment and the final result was a compact 3D package within the specifications determined by the electronics designer. The miniaturized prototype device was successfully tested both in vitro and in vivo.

The manufacturing technique of the sensing device can be readily adapted to other devices that need to be miniaturized. The coatings used for electrical insulation and chemical protection and the type of adhesives used for folded packages are easily utilized in similar miniaturization prototypes. By using bare chips, the final product would have been even smaller but for prototyping it is cheaper and faster to use easily acquired and attached components. In the case of mass production, the whole new design, where bare chips with flip chip attachments, integrated passives and/or stacked 3D packages with design considerations such as electrical, thermal and mechanical engineering is justified.

This paper's purpose is to develop a meaning-based framework for customer loyalty by examining how consumers make sense of customer loyalty through meanings and metaphors.

A qualitative study based on in-depth interviews and focus group data in the retail context was conducted with Finnish customers. The data were analysed with qualitative data analysis techniques such as the constant comparative technique.

The empirical findings comprise eight loyalty meanings characterised by two dimensions. The first dimension is reflexive vs. routinised, and the second dimension is private vs. social. The loyalty types are dimensionalised through four metaphors: loyalty as freedom of choice; as being conventional and binding; and as belongingness.

The findings improve the way customer loyalty currently is understood in the retail setting. The paper proposes that customer insight that utilises thick data can be used to grasp loyalty meanings. These data are rich in context and detail, and they take into account customers' everyday lives. Utilising thick data in the form of storytelling fuels customers' meaning-making related to customer loyalty, potentially enriching their relationship with the retailer.

Customer loyalty has been driven largely by a transactional and company-centric perspective. This article presents an alternative view of customer loyalty that accounts for the variety of meanings that customers may assign to their loyalty-related thoughts and behaviours.

This study is an attempt to increase the understanding of the hunting tourism customer. The purpose of the paper is to explore the characteristics, motivations, values and expectations of Finnish hunting tourists, and to try to distinguish between different types among them.

Twelve semi‐structured, narrative, face‐to‐face interviews were conducted. The study was conceived within an interpretive paradigm, in which a central aim is to understand the subjective world of the human experience. Constant comparison was used as a method of data analysis.

Several common features were distinguished among the interviewees. First, hunters' attitudes towards shooting and the importance of a bag have changed during the years. Second, a difference between an ordinary hunting experience and a hunting tourism experience was perceptible. Third, willingness to experience something new related to hunting was the most important hunting tourism motivation. The fourth common feature was the importance of the social component hunting tourism. Three different types of hunting tourists could be identified: responsible hunting tourists, adaptable hunting tourists and achievement‐oriented hunting tourists. The major distinguishing factors were the hunters' attitudes towards shooting, game farming and social relationships during the hunting trip.

The study is one of the few to investigate hunters as tourists.

Project operations are a dominating mode of international business. Managing relationships and networks is crucial to project marketing success both at the level of the individual project and at the level of multiple projects. This article first defines key characteristics of project business, identifies potentially relevant actors in the project marketing milieu, and emphasizes the importance of constantly nurturing project business relationships, also in “sleeping relationship” periods where concrete projects are not expected. Thereafter the points made are illustrated with a Finnish‐Chinese turnkey project case at the level of the individual project and a Danish‐German professional service project case at the level of multiple projects. It is concluded that project managers and marketers should focus their attention on the management of project relationships before, during, and after projects, as well as on relevant environmental factors in the project marketing milieu, instead of using resources on sporadic or last minute running after potential projects.

As cryptocurrencies continue to gain viability as an asset class, institutional investors and publicly traded firms have started taking investment positions in digital currencies. What firms may not be considering, however, is the effect these assets may have on their risk profiles. This study aims to (1) measure the effect of cryptocurrencies on the risk and return characteristics of publicly traded companies; (2) decipher the motives behind holding cryptocurrencies as an asset class; and (3) determine whether one reason for holding is more effective than another. To conduct this research, the four largest publicly traded holders of cryptocurrency as well as four of the most prominent cryptocurrencies are explored.

The cross-sectional analysis approach has been used to analyze the daily returns, volatility, betas and Sharpe Ratios of firms during periods without cryptocurrency strategies and during periods with cryptocurrency strategies.

The impact of the cryptocurrency asset class on common stock performance and corporate disclosures are documented. The importance of risk disclosures on cryptocurrency holdings is emphasized: Firms must better inform their stakeholders through comprehensive disclosures in financial statements. Firms utilize cryptocurrencies for various reasons such as treasury management tools or as direct sources of income. Consequently, the impact on returns and risks varies substantially.

To the best of the authors’ knowledge, this is one of the first studies on cryptocurrency investments in the treasury departments of publicly traded companies. The study contributes to the literature by extracting relevant information regarding company risk reporting and cryptocurrency risk at firms. The conclusions also promote firm transparency with detailed reporting of cryptocurrency holding risks.

At present, for any product, smooth marketing has become a major challenge due to the novel market challenges as well as sudden and extended changes. Thus, the concerns for the marketers are essential to consider the choice of buyers and also to satisfy them. The purpose of this empirical research is to focus on the role of three organizational attributes (OA): job satisfaction (JS), organizational commitment (OC) and extrinsic motivation (EM) on the marketing performance (MP) mediated by the Chief Marketing Officers' (CMOs') political skill (CPS) in the telecommunication industries of China, Singapore, Vietnam, Malaysia, Indonesia, India, Pakistan, Bangladesh, United Arab Emirates (UAE) and Sri Lanka.

In this paper, based on 132 survey responses collected from CMOs, the authors conducted descriptive statistics using Statistical Package for Social Science (SPSS-25) and tested the assumed hypotheses through covariance-based structural equation modeling (CB-SEM) using AMOS software (version 25).

The authors found that JS has an insignificant role on MP while OC and EM have significant positive roles over the dependent variable. CPS has also a significant positive influence over MP. Further, the authors identified that CPS can fully mediate the relationship between JS and MP while it can partially mediate the relationship between OC and MP. On the other hand, CPS cannot mediate the relationship between EM and MP at all.

According to authors’ knowledge, this is one of the very limited initial attempts that have investigated the role of three important OA on the MP testing the mediating effect of CPS. The authors expect that the study outcomes will have an enormous impact on marketing academia as a torch-bearing research as well as for CMOs for formulating an effective marketing policy.

Academic research has intensively analyzed the relationship between market concentration or market power and banking stability but provides ambiguous results, which are summarized under the concentration-stability/fragility view. We provide empirical evidence that the mixed results are due to the difficulty of identifying reliable variables to measure concentration and market power.

Using data from 3,943 banks operating in the European Union (EU)-15 between 2013 and 2020, we employ linear regression models on panel data. Banking market concentration is measured by the Herfindahl–Hirschman Index (HHI), and market power is estimated by the product-specific Lerner Indices for the loan and deposit market, respectively.

Our analysis reveals a significantly stability-decreasing impact of market concentration (HHI) and a significantly stability-increasing effect of market power (Lerner Indices). In addition, we provide evidence for a weak (or even absent) empirical relationship between the (non)structural measures, challenging the validity of the structure-conduct-performance (SCP) paradigm. Our baseline findings remain robust, especially when controlling for a likely reverse causality.

Our results suggest that the HHI may reflect other factors beyond market power that influence banking stability. Thus, banking supervisors and competition authorities should investigate market concentration and market power simultaneously while considering their joint impact on banking stability.