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The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested.

To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested.

The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth.

The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed.

This study aims to empirically validate the holistic consumer-based brand equity (CBBE) framework and establishment of the cross-over effect using consumer preferences for wine “regions.”

The authors utilize a sample of 275 regular wine purchasers in Australia, who were aged above 30 years old and had consumed regional wine in the last 3 months through an online consumer panel survey.

By testing competing CBBE models, the main research model was found to have the greatest predictive ability, due to its inclusion of both the rational and emotional paths and the cross-over effect between consumer brand judgment and brand feeling. This paper indicates that consumers enhance brand equity and develop a strong ongoing relationship with regional wine brands by simultaneously engaging in both mental behavior paths, where, in the meantime, rational processing has a cross-over effect on emotional processing.

This study expands the brand management literature by answering the future research on the CBBE model identified by Hall et al. (2021). Moreover, it establishes the underexplored cross-over effect within the CBBE literature. Furthermore, it adds to the marketing and wine-marketing literature by extending the concept of the brand to other attributes in consumer choice, such as a wine region as outlined by Giacomarra et al. (2020). Thus, this study advances the existing branding knowledge in a practical sense, which enables regional wine marketers and wine retailers to undertake promotional and product development strategies accordingly.

The emerging business partner role of management accountants (MAs) results in an increased requirement of MAs to make business decisions. Frame dependence cognitive biases regularly influence decisions made in conditions of uncertainty, as is the case in business decision-making. Consequently, this study aims to examine susceptibility of MAs to frame dependence bias.

A survey was conducted among an international sample of practising MAs. The proportion of MAs influenced by framing bias was analysed and compared to findings in other populations. Logistic regression was then used to determine whether MAs who exhibit a higher preference for evidence-based (as opposed to intuitive) decision-making are more susceptible to framing bias.

Despite a comparatively high preference for evidence-based decision-making, the prevalence of framing bias among MAs is comparable to that of other populations. A higher preference for evidence-based decision-making was found to only be associated with higher susceptibility to endowment effect bias.

To the best of the authors’ knowledge, this is the first study to comprehensively examine framing bias for MAs as a group of decision-makers. Additionally, this study’s sample consists of practising MAs, and not only students.

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC) and government demand in creating a new industry. Since current theoretical explanations of the best uses of governmental venture capital are still under development, there is considerable need for further theory development to explain and predict the creation of an industry and especially those industries where failures in private capital supply necessitates governmental involvement in new firm creation. The purpose of this paper is to provide an in depth historical review of how the arms industry evolved spurred by GVC and government created demand.

This study uses abductive inference as the best way to build and test emerging theories and advancing theoretical explanations of the best uses of GVC and governmental demand to achieve socially required outcomes.

By observing this specific historical example in detail, the authors add to the understanding of value creation caused by governmental venture capital funding of existing theory. A major contribution of this paper is to advance theory based on detailed observation.

The relatively limited research literature and theory development on governmental venture capital funding and the critical success factors in startups are enriched by this abductive investigation of the creation of the historically important arms industry and its spillover into creating the specialized machine industry.

This study is a comment on Geoffrey Hodgson’s “Discovering Institutionalism: One Person’s Journey.” In this self-description of the evolution of his thought, Hodgson distinctly acknowledges Thorstein Veblen’s influence on his own institutional perspective. This is the issue that I explore in this study. My argument is that Hodgson can be understood as a Veblenian, but he does not fit in the Veblenian notion that became popular in the mid-twentieth century. I argue that Hodgson’s notion of habits is the strongest Veblen’s influence on him, and his reconstitutive downward and upward causations are in line with Veblen’s institutionalism, albeit without the mid-twentieth century Veblenian writings. I also address the approach to the content of habits as a break between Hodgson’s and Veblen’s institutionalism. By offering an unprecedented Veblenianism, I argue that Hodgson’s institutional economics can be understood as a new institutionalist segmentation.

It is widely agreed that transformation processes that are triggered by crisis events can challenge conventional behavioural norms and stimulate new ideas and innovations that can assist in the preparations for future challenges. This impetus for transformation processes not only applies to the COVID-19 pandemic, but has also been seen in many other instances, such as the Global Financial Crisis in 2008 or the 2011 Fukushima nuclear disaster, which have sparked significant socio-political change processes often with a global reach. The multitude of wicked tourism policy problems discussed in our book often occur in parallel, are of growing complexities, are often not well understood and indistinguishable from one another and exert pressure on the resilience of vulnerable political, economic and community-based systems. These circumstances often present as tipping points which can trigger necessary long-term transformations. However, this process of long-term change must be well planned and strategically implemented. Thus, future transformative destination management should be built on a holistic approach, underpinned by adaptive political leadership in which tourism is not only seen as a driver for economic growth and employment, but as a strategy which successfully integrates social, cultural and ecological goals.

Bringing together our analysis from the previous chapters allows us to lay out the various contradictions and issues surrounding ownership models that have arisen for fans of football clubs. Exactly when are most English football clubs supposed to have conformed to the normative model? Our analysis reveals that the context in which football clubs operate is that of global business and has developed in line with the practices of other businesses that exist outside the sporting arena. There is always going to be an uneasy tension between a fan ideal and something that has to operate within global contexts. However, in the modern game ideal and practice find themselves not merely in tension, but often completely in opposition to one another. Football finds itself in a position where something has to give, be it ownership models or the affective ties of the fans themselves. Fans can either continue to wrestle with the contradictions that arise from what they think their club is or fandom itself changes to embrace the context of the ownership. Given the moral injunction that is almost invariably built into the idealised image that fans have of their club, there is one question that we must always ask in the contemporary climate: How far is too far before all of this means nothing?

This study aims to explore the role of resource investment in resolving the bank size paradox, in which there is a direct positive impact on financial performance but also the potential for increased business diversification, which thus poses the risk of a negative impact on financial performance.

This study assessed secondary data on 108 commercial banks in Indonesia using specific document types, including financial reports and banking directory reports published by the financial regulatory authority. The data thus obtained were analysed via covariance-based structural equation modelling.

In the context of the Indonesian banking industry, the results showed that firm size (or bank size) had positive effects on both diversification strategy and financial performance. Meanwhile, diversification strategy had a direct negative impact on financial performance but an indirect positive effect on financial performance when mediated by resource investment.

While this study empirically demonstrated the existence of the bank size paradox, the results confirmed that it could be reduced through the strategic role of resource investment, which minimises the negative impacts of diversification strategies on financial performance.