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This study empirically examines the nonlinear effects of mimicking peer firms' cash holdings on shareholder value, with consideration of macroeconomic conditions.

An instrumental variable approach for nonlinear models is estimated for a large sample of US firms over the period 1991–2019. This approach addresses the reflection problem in examining peer effects, whereby it is impossible to separate the individual's effects on the group, or vice versa, if both are simultaneously determined.

The authors find an inverted U-shaped association between shareholder value and mimicking intensity of peer firms' cash holdings. This result suggests that mimicking peer firms' cash holdings is subject to diminishing returns. It is more beneficial at lower levels of mimicking intensity but less so or suboptimal at higher levels. Further evidence indicates that this inverted U-shaped shareholder value-mimicking intensity nexus is asymmetric. Specifically, it is salient for decreases relative to increases in cash holdings and, more importantly, in good relative to bad macroeconomic states. The findings are robust to several concerns and have important implications for liquidity management policies.

The authors provide new empirical evidence of the nonlinear effects of mimicking peer firms' cash holdings on shareholder value, which varies with macroeconomic conditions.

Why is it that highly trained and seasoned executives fail? On the surface, this doesn’t make sense because they are very successful; yet research in the organization sciences provides no shortage of evidence to prove just that. From the classic Mann Gulch fire disaster of Weick’s famous collapse of sensemaking study, to studies of myopia of learning, escalation of commitment, threat-rigidity, dominant logic, the architecture of simplicity, the Icarus Paradox, to core competencies turning into core rigidities, and navigating new competitive markets using “old” cognitive maps, and many more such examples point to a ubiquitous phenomenon where highly trained and experienced professionals find themselves “stuck” in the heat of battle, unable to move and progress. On the one hand, for some, there is a desperate need for change, but are unable to do so, due to their trained incapacities. On the other hand, some simply cannot see the need for change, and continue with their “business as usual” mentality. For both, their visions of the world shrink, they have a tendency to cling onto their past habitual practices and oversimplify the complexity of the situation. In moments like these: DROP YOUR TOOLS and UNLEARN! This book chapter introduces a framework (grounded in clinical psychology) that has had consistent success in helping seasoned executives and key decision-makers open up the alternatives whenever they find themselves stuck with complexity.

Addressing stigmatized identity threat cues customers experience, this study aimed to uncover the effects of frontline employees' ethnic and body-size diversity which lead to customer self-objectification and negative store attitude.

The researchers conducted two studies: Study 1 utilized a one-way ANOVA and a PROCESS mediation model to test the effect of Western beauty-ideal stereotypes on stigmatized identity threat and self-objectification. Study 2 utilized a 2 × 2 experimental design to examine the effects of body-size diversity and ethnic diversity on perceived warmth of sales associates and store attitude.

Results demonstrate that retail store environments which present Western beauty-ideal stereotypes among sales associates cultivate higher levels of stigmatized identity threat cues with their customers, which leads to self-objectification. Also, our findings demonstrated that a lack of ethnic and body-size diversity (i.e. thin and White) among sales associates decreased the perceived sales associate warmth and in turn lowered store attitude.

Participants of the first study were limited by the White participants. The implications highlight the integral need for retailers to hire sales associates who fall outside the parameters of typical Western beauty standards because today's customers desire inclusive brands who do not discriminate based on ethnicity, body size and other characteristics.

This research utilized social identity theory to uncover the effect of retail sales associate stereotype on customer perception of employees, which has not to our knowledge been previously studied.

Today, collaborative fashion approaches are a popular method of reimaging and positioning in contested markets. Fashion collaborations see brands, designers, artists, and companies come together, offering consumers new, alternative products. While shopping continues to be a popular leisure and touristic activity, it is becoming comparable across cities. At present, scholars and practitioners have paid scant attention to collaborative fashion consumption (Botsman & Rogers, 2010). This chapter considers how destinations should become involved with fashion collaborations and drop culture from the offset, establishing specific events for tourists to experience. Ultimately, changing the culture and behavior of shopping tourists to one of event experience and not solely product ownership.

This study explores reasons for and against secondhand luxury (SHL) fashion adoption among young consumers in an emerging nation, India. As a trend, SHL has witnessed tremendous growth in the past few years, but scholarly interest remains scant.

Drawing from an interpretivist paradigm, this study uses an exploratory qualitative approach with 26 semi-structured interviews with SHL buyers, analyzed using NVivo software.

The findings shed significant light on value drivers and find support for status value, uniqueness value, quality value and monetary value, while adding the role of emotional value in reasons for SHL adoption. The results reveal an interesting trait of Indian consumers: price, fashion and celebrity association outweigh sustainability concerns, where an attitude–behavior gap is observed. Also, the findings add depth to risk perceptions as a major reason against SHL adoption.

While most existing studies have only focused on the motivational drivers, this study offers in-depth insights into the growing SHL literature by drawing attention to the enablers and equally important inhibitors by applying the novel Behavioral Reasoning Theory. It also intends to enhance practitioner knowledge in understanding a culturally diverse market and developing strategies relevant to a new set of consumers. The study calls for SHL retailers to sensitize young consumers in India about the sustainability aspect of SHL consumption, which is currently less appreciated.

This study investigates the relationship between stakeholders and implementing environmentally sustainable practices (ESPs) by Thai restaurant chains.

A survey method using the questionnaire was used to collect data from 400 owners/managers of Thai restaurant chains. The structural equation modeling (SEM) was used to determine the relationship between stakeholders and the implementation of ESPs by Thai restaurant chains.

The finding revealed that both primary and secondary stakeholders significantly influence implementing ESPs, with no moderating effect of environmental knowledge on primary stakeholders regarding implementing ESPs.

The results can help restaurant chain businesses understand how stakeholder power, in response to their regular interactions and societal expectations, affects the implementation of ESPs.

This study is among the first study to investigate the effects of stakeholder pressure on the implementation of ESPs in Thai restaurant chains in Thailand. By looking at restaurant chains, the authors add to the body of knowledge on ESPs in the hospitality sector and offer insights on the role of stakeholders and the moderating role of environmental knowledge.