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This paper presents an alternative, “Latin” vision of our societies. Here the urgent societal issue is not to celebrate freedom from social constraints, but to re‐establish communal embeddedness. The citizen of 2002 is less interested in the objects of consumption than in the social links and identities that come with them. This Latin view holds that people like to gather together in tribes and that such social, proximate communities are more affective and influential on people’s behaviour than either marketing institutions or other “formal” cultural authorities. There is also an element of resistance and re‐appropriation in the acts of being, gathering and experiencing together. This view of the shared experience of tribes sets it apart from both Northern notions of segmented markets and one‐to‐one relationships. In this Latin view, the effective marketing of 2002 and beyond is not to accept and exploit consumers in their contemporary individualisation, as Northern approaches might. Rather the future of marketing is in offering and supporting a renewed sense of community. Marketing becomes tribal marketing. In a marketing profession challenged by the Internet phenomenon, tribal marketing is by no means just another passing fad but a Trojan horse to induce companies to take on board the re‐emergence of the quest for community.

Audit committees (ACs) have been perceived as an important means of corporate governance, safeguarding the interests of shareholders by monitoring internal control and risk management. This study aims to examine specific structural and operational characteristics of ACs for firms in Hong Kong, where regulators have strived to adhere to international compliance standards.

This study is based on a cross‐sectional examination of disclosures on ACs by 223 listed companies in Hong Kong.

The independence and financial expertise of AC members do not enhance the value of the respective firms, despite maintaining satisfactory compliance. The discrepancy in the value relevance of ACs in prior studies is explained by the possible inadequacy of the resources available to ACs.

The data in this study are entirely from secondary sources of disclosures by listed companies for the year immediately following the implementation of the code of best practices of corporate governance. No in‐depth case studies are supplemented.

A key implication of this study to the regulators is that the proper allocation of resources to an AC should be considered beyond the independence and financial expertise of AC members to ensure the effectiveness of an AC.

This paper is an empirical study about the practices and compliance of ACs among listed companies in a global financial centre.

In view of the current climate change emergency and the growing importance of the climate-related accountability of companies, this paper aims to advance a comprehensive understanding of the determinants of carbon-related chief executive officer (CEO) compensation.

Building on the agency-theoretical perspective on executive compensation and existing work in the fields of management, corporate governance, cultural studies, and behavioral science, this paper derives a multilevel framework of the determinants of carbon-related CEO compensation.

This paper maps the determinants of carbon-related CEO compensation at the societal, organizational, group, and individual levels of analysis. It also provides research propositions on the determinants that can support and challenge the implementation of this instrument of environmental corporate governance.

In the past literature, the determinants of carbon-related CEO compensation have remained largely unexplored. This paper contributes to the academic discussion on environmental corporate governance by showcasing the role of interlinkages among the determinants of carbon-related CEO compensation and the possible countervailing impacts. In view of the complex interdisciplinary nature of climate change impact, this paper encourages businesses practitioners and regulators to intensify their climate change mitigation efforts and delineates the levers at their disposal.

Business is moving online, not as a matter of choice, but as a matter of necessity. The use of the Internet as a channel for commerce and information presents an opportunity for business to use the Internet as a tool for customer relationship management (CRM)/(e‐CRM). Despite widespread agreement that CRM/e‐CRM has direct and/or indirect impact on customer satisfaction, sales, profit, and loyalty, the significance of e‐CRM and the various e‐CRM features in influencing customer satisfaction has not been well researched. This study attempted to uncover relationships between e‐CRM and customer satisfaction by determining the presence of e‐CRM features on retail Web sites for which we have customer satisfaction data, and determining if the amount of e‐CRM is related to customer satisfaction or which, if any, of the various features of e‐CRM are related to customer satisfaction. It was found that retailers differ in the presence of the 42 different e‐CRM features; that there is a positive relationship between the amount of e‐CRM on a Web site and customer satisfaction with the Web site; and that not all e‐CRM attributes are equal – some are related to satisfaction and some are not. There was no relationship between the level of e‐CRM on a retail Web site and sales and profit.

This paper aims to analyse the link between culture and corporate governance. In particular, it demonstrates the impact of culture in inhibiting convergence of corporate governance. Overall, the paper provides an appraisal of corporate governance laws in stakeholder-oriented states that have endured market pressure for convergence.

The paper utilises historical trend in analyzing changes in corporate governance regulation in six countries covering three continents with stakeholder-oriented corporate governance model to determine the effect of culture in the convergence or divergence of corporate governance.

The view that corporate governance is converging towards the shareholder model largely ignores cultural differences in states. An appraisal of corporate governance rules and principles that have endured Anglo-American influence reveals a strong propensity for cultural norms to dictate areas where changes occur. This paper demonstrates nominal changes in corporate governance regulation and ideologies, as states still turn to design corporate governance rules around their cultural philosophy. The paper also reveals weak political authority for convergence vis-à-vis market forces.

Laws are strongly embedded in the corporate philosophies of states. Thus, the market and managers need to incorporate national culture into corporate practices for effective implementation.

Few studies have examined the effect of culture on the convergence of corporate governance regulation, especially across different countries. This study does not only analyze corporate governance in developed countries but also examines emerging nations in Africa where research on convergence is very scarce.

After a series of recent Delaware Chancery Court and Delaware Supreme Court decisions and the standard of judicial review applied in challenges to “going‐private” transactions, controlling stockholders seeking to privatize their subsidiaries may be induced to do so by means of a two‐step acquisition (i.e., unilateral tender or exchange offer, followed by a short‐form merger) instead of a negotiated, single‐step merger. That said, there are a range of practical considerations for public M&A advisors in the wake of these decisions that may not necessarily make the two‐step method the “be all and end all” approach. In any case, there is an incongruity in Delaware’s common law, which is policy‐driven and, to some degree, formalistic, and which may no longer be as defensible today as it once may have been. Accordingly, a critical review of the applicable Delaware precedents and, ultimately, the reversal or modification thereof, seems appropriate at this time.

This article aims to examine US loyalty marketing industry size and analyzes growth trends.

The article provides a discussion on COLLOQUY's benchmark‐setting measurement.

US loyalty rewards program membership has reached 1.3 billion, according to COLLOQUY research that provides the first comprehensive census‐taking of loyalty marketing since the modern loyalty era began with frequent flyer incentives in 1981. COLLOQUY's benchmark‐setting measurement, based on a fourth‐quarter 2006 analysis of a dozen business sectors, reveals that the average US household belongs to 12 loyalty programs. In a key finding, the COLLOQUY census shows that “active participation” in loyalty programs is a blended average of 39.5 percent across all sectors analyzed, a number that COLLOQUY experts characterized as “dismal.” Of the 12 programs per average household, 4.7 yield active participation. The census results raise a major question. Does the participation data mean the loyalty empire has reached a saturation point? The response from COLLOQUY experts: “Loyalty memberships are flying dangerously high. Fat membership roles may look good in a press release, but active loyalty program members are the only members who count.”

The loyalty marketing industry has experienced significant growth. Low active participation rates signal that millions of customer files in a database do not signify a successful loyalty strategy. Smart enrollment strategies should suggest a finite population of best or highest potential spenders.

The article provides proprietary business‐to‐business research on the size and scope of the US loyalty marketing industry.

The purpose of this paper is to investigate how government employees perceive and react to limits on their right to express public dissent about their employer. Within the context of Canada's federal workplaces, this two‐part project sought first to analyse and clarify the nature of complex government rules on dissent, and then to explore federal employees' understanding of those rules, and the balance between the duty of loyalty owed to their employer, and their protected rights as citizens to criticize their government. The goal was to contribute to further research and improve professional practice within the federal public service in addressing employee dissent.

This research is qualitative and exploratory. Documentary and literature analysis was conducted to review Canada's laws, policies and guidelines. These were critically analysed for consistency with each other, and with their stated objectives. Employee views and perceptions were collected through a focus group of communications employees, and three in‐depth interviews. Interviews and focus group results were analysed by inference to explore employee perceptions of their duties and rights, and the authority on which their perceptions are based.

Results indicate that respondents base decisions about employee dissent on unconsciously internalized organizational values. Formal policy, training, or legal consequences had less influence on dissent than organizational culture, employee experience, and perceived career and relationship risks. Respondents valued their right to dissent, but were willing to yield it to honour a voluntary moral contract to support a higher cause (public service). The implications are that traditional theories that view employee dissent as largely self‐interested may be less relevant when employees perceive the organization's goals to be value‐driven, and that employee dissent can be minimized by promoting a value‐based organizational culture.

This paper's findings suggest that organizations might better manage reputation and minimize external employee dissent by focussing on communications that foster a value‐driven organizational culture, rather than by implementing formal limits or policies to control dissent.

This paper offers policy analysis that fulfills an identified gap in knowledge in terms of general day‐to‐day practise when it comes to advising Canada's federal employees regarding their rights and responsibilities, and offers some challenges to traditional theories that suggest employee choices regarding dissent are primarily based on individual self‐interest or self‐actualization.

Outlines the development by Barclays Life of a tracking survey to collect information concerning customers’ feelings of satisfaction and loyalty. Describes research undertaken by Barclays Life into the determinants of satisfaction amongst customers and the importance of each of these elements in determining loyalty. Initial qualitative research was undertaken to allow the company to develop a frame of reference concerning the elements of service which customers considered important. These initial findings were used in later quantitative studies to establish the relative importance of the different elements, with a view to understanding what was determining customer loyalty. The research culminated in the development of a tracking survey instrument, now used by the company to monitor customer satisfaction and loyalty levels across time and customer groups. Discusses both the findings of the research undertaken, and the importance of such research for firms. Outlines the use to which the information gathered by the surveys is put, together with initiatives which have resulted from the research.

IN the current issue of the journal of the Institute of Practitioners in Work Study, Organisation, and Methods one of its Members, a Mr. E. Cule Davies, plausibly argues that ‘professional standards’ are interdependent with what he terms ‘practical results’. Mr. Davies cites a notional case of a company inviting a ‘specialist’ (the quote marks are his) to improve productivity in a given section and who gave their own professional work study practitioner the same objective to attain.