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Article

Dania Mouakhar-Klouz, Alain d’Astous and Denis Darpy

The aim of the research presented in this paper is to enhance our understanding of self-gift giving behavior. Self-regulatory theory is used as a conceptual support to…

Abstract

Purpose

The aim of the research presented in this paper is to enhance our understanding of self-gift giving behavior. Self-regulatory theory is used as a conceptual support to achieve this objective. The main idea that is explored is that consumers’ self-gift purchase intentions vary across contexts and situations to the extent that these are compatible or not with their self-regulatory mindset, whether it is chronic or situational.

Design/methodology/approach

Two studies, using a scenario-based experiment, were conducted to investigate the effects that regulatory focus has on consumers’ intentions to buy themselves a gift.

Findings

The results support the proposition that the chronic form of regulatory focus in success and failure situations has a significant impact on the intention to purchase a gift to oneself and show that the situational form of regulatory focus has an influence on self-gift purchase intention as well. They also confirm that situations that are congruent with consumers’ self-regulatory mindset lead to stronger self-gift purchase intentions.

Originality/value

The main contribution of this research lies in delineating the role that some specific dispositional and situational factors play in shaping consumers’ perceptions of success and failure events and how this impacts the eventual purchase of a gift to oneself. This contrasts with previous research on self-gift giving, where success and failure situations are assumed to be perceived similarly by consumers. Marketing managers wishing to stimulate consumers’ propensity to buy themselves gifts should consider using regulatory focus as a segmentation basis. Marketing communications should be adapted to consumers’ self-regulatory mindset.

Details

Journal of Consumer Marketing, vol. 33 no. 6
Type: Research Article
ISSN: 0736-3761

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Article

Wenling Lu and David A. Whidbee

This paper aims to examine the characteristics of banks that were the target of intervention in the form of bailout or failure during the financial crisis and, of those…

Abstract

Purpose

This paper aims to examine the characteristics of banks that were the target of intervention in the form of bailout or failure during the financial crisis and, of those subjected to intervention, what characteristics distinguish those that received bailout funds from those that were deemed failures.

Design/methodology/approach

The study estimates a series of logit regressions in an effort to identify the causes of regulatory intervention while controlling for bank-level characteristics and the economic and regulatory environment.

Findings

The empirical results indicate that many of the same characteristics associated with banks receiving bailout funds are similar to the characteristics associated with failed banks. However, non-performing loans increased the likelihood of failure, but reduced the likelihood of a bank receiving Capital Purchase Program (CPP) funds, suggesting that regulatory authorities discriminated in their use of CPP funds based on the quality of a bank’s asset portfolio. Further, those banks located in states with limits on de novo branching and those banks that are part of a multi-bank holding company structure were less likely to fail but were more likely to receive CPP funds.

Originality/value

This paper provides a comprehensive analysis of regulatory intervention in the banking industry during the late 2000s financial crisis and the impact of different banking organizational structures, economic circumstances, and financial fragility on the likelihood of a bank failing or receiving bailout funds.

Details

Journal of Financial Economic Policy, vol. 8 no. 3
Type: Research Article
ISSN: 1757-6385

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Article

Abdurafiu Olaiya Noah, Pawan Adhikari, Babafemi O. Ogundele and Hassan Yazdifar

The purpose of this study is to investigate how state regulations become ineffective in holding corporations accountable for environmental degradation in an emerging…

Abstract

Purpose

The purpose of this study is to investigate how state regulations become ineffective in holding corporations accountable for environmental degradation in an emerging economy context, with a specific focus on oil and gas and cement industry in Nigeria.

Design/methodology/approach

The study draws on capture theory to bring out the factors that have rendered redundant the state intervention to make corporations accountable for their environmental activities. The research setting is the oil and gas and cement industry in Nigeria. Data for the study are derived from both documentary analysis and semi-structured interviews and analysed using a thematic technique.

Findings

The findings of the paper demonstrate a regulatory failure to hold corporations to account for their environmental activities. A lack of political will, outdated regulations and the manipulation of the regulators, all have played a part in preventing corporations from being accountable for their activities. In addition, the widespread elite corruption in the country has provided corporations with leeway to manipulate their environmental accountability practices. The study emphasises the need for continuous review of the regulations and efforts to reduce corruption in order to promote corporations' environmental accountability in Nigeria.

Research limitations/implications

The research is limited to Nigeria, oil and gas and cement industries. The theoretical lens can be used to address problem of capture of the regulations and institution in the country.

Practical implications

The practical implication is that it would enhance environmental regulations in Nigeria and emerging economies. It will also provide support from researchers emerging markets on the adoption of capture theory in future research.

Social implications

It will promote corporate best environmental practices in the country. It will reduce the issues surrounding environmental accountability practices and create awareness on environmental issues among the populace. It will create the impression that corporations will be held accountable for their environmental activities in the country and the need to have improved environmental regulations in the country.

Originality/value

The study adds to the debate on corporate environmental accountability practices engendering insights from the Nigerian oil and gas and cement industry. The paper demonstrates how companies in emerging economies can capture state regulations and how rendering environmental accountability becomes more of rhetoric than a reality with little impacts on the welfare of people and society.

Details

Journal of Accounting in Emerging Economies, vol. 11 no. 1
Type: Research Article
ISSN: 2042-1168

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Article

William Patrick Forbes, Sheila O Donohoe and Jörg Prokop

The purpose of this cross-national study is to evaluate the communality and differences in experiences and policy responses in the run up to the 2007-2009 credit crisis…

Abstract

Purpose

The purpose of this cross-national study is to evaluate the communality and differences in experiences and policy responses in the run up to the 2007-2009 credit crisis and during its critical early stages in Germany, Ireland and the UK. The importance of shared cognitive illusions regarding the power and stability of financial markets is emphasised.

Design/methodology/approach

A multiple case study approach is used which draws on publicly available information to trace developments leading up to bank failures (or near failures) and the evolution of government responses drawing upon alternative paradigms used to justify State intervention.

Findings

Findings emphasise the role of state regulatory bodies and their response to the crisis as a primary source of the “rules of the game” in financial markets, here it is the “game of bank bargains” and a potential source of repair. Given the degree of interconnectedness, opacity and complexity of financial markets investors/politicians/regulators will fall victim to cognitive biases which affect their decisions.

Research limitations/implications

This case study method allows identification of patterns in decision-makers’ behaviour and yields richer insights than a quantitative approach but is limited in its generalisability.

Practical implications

This paper offers practical implications in suggesting that a pivotal step in effective crisis management requires directly addressing sources of uncertainty, namely, time pressure, complexity and opacity of underlying cause–effect relationships, empowering decision-makers to act responsibly.

Originality/value

This paper is novel in its illustration of the collective cognitive paradigm for justifying regulatory action across three countries using six case studies.

Details

The Journal of Risk Finance, vol. 16 no. 3
Type: Research Article
ISSN: 1526-5943

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Article

Roman Tomasic

Examines different approaches to the challenge of Australian corporate law enforcement and governance, and discusses success in this area and how it might be determined…

Abstract

Examines different approaches to the challenge of Australian corporate law enforcement and governance, and discusses success in this area and how it might be determined. Describes barriers to measuring success of regulatory action, and debates what level of law enforcement is appropriate and cost‐effective. Concludes that a more broadly based approach to regulatory action and assessment is of prime importance.

Details

Corporate Governance: The international journal of business in society, vol. 1 no. 3
Type: Research Article
ISSN: 1472-0701

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Book part

Mitja Kovac and Ann-Sophie Vandenberghe

This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and…

Abstract

This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of sustainable practices. The main findings are as follows: (1) degradation of the rule of law in several European Union (EU) Member States and constant political undermining of the legal institutions represent the main threat for the implementation of sustainable practices and development; (2) the golden regulatory rule of thumb provides that regulatory intervention is suggested merely in cases of market failures under the condition that the costs of such intervention do not exceed the benefits; (3) over-regulation might impede implementation of sustainable practices, distort the operation of the market, undermine productivity, diminish growth and social wealth and consequently also sustainability; (4) efficiency and wealth maximization should be the lawmaker’s leading normative principle in designing the legal framework that will enable effective implementation of sustainable practices; (5) the efficient level of harmonization or subsidiarity of decision-making in the EU urges for a rigorous investigation of costs and benefits of the EU top-down harmonization policies which should lead to a better, efficient vertical allocation of sustainability agenda between EU and the Member States; and (6) The Reflection Paper on Sustainable Development Goals – “Towards a Sustainable Europe in 2030” – represents an effective institutional framework in pursue of the overall sustainability targets.

Details

Challenges on the Path Toward Sustainability in Europe
Type: Book
ISBN: 978-1-80043-972-6

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Article

Joanna Gray and Elspeth Fennell

This article argues that a more broadly based understanding of the processes of the enforcement of regulation and compliance needs to be developed. It highlights aspects…

Abstract

This article argues that a more broadly based understanding of the processes of the enforcement of regulation and compliance needs to be developed. It highlights aspects of two recent newsworthy cases of non‐compliance with financial regulation. It concludes that future practice needs to be informed by research from a wider range of theoretical disciplines than have been employed in the study of financial regulation hitherto.

Details

Journal of Financial Crime, vol. 3 no. 4
Type: Research Article
ISSN: 1359-0790

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Article

Tiziana de-Magistris, Stefano Pascucci and Dimitrios Mitsopoulos

The purpose of this paper is to examine the role of the European Novel Food Regulation (ENFR) on consumers’ acceptance of and willingness to pay (WTP) for radical food…

Abstract

Purpose

The purpose of this paper is to examine the role of the European Novel Food Regulation (ENFR) on consumers’ acceptance of and willingness to pay (WTP) for radical food innovations. The research question is focussed on determining whether the ENFR is hampering the market potential of insect-based food products in the European Union (EU). The authors position this question within the domain of regulatory barriers related to food innovations.

Design/methodology/approach

Using a choice experiment, the authors assess the presence and relevance of these failures through the analysis of consumers’ acceptance and WTP for insect-based food products with different product attributes directly imposed by the ENFR. Namely, the authors assess the effect of the visualization of insects in the product, the use of logo, and nutritional information.

Findings

The results show that consumers prefer and are willing to pay a premium price for insect-based products with a nutritional health claim and logo, but they are not willing to pay for a product with a visualized insect.

Originality/value

This paper highlights the risk of regulatory failures for novel foods in the EU, such as insect-based food products due to the ENFR.

Details

British Food Journal, vol. 117 no. 6
Type: Research Article
ISSN: 0007-070X

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Article

Jingyun Ma, Fengming Song and Zhishu Yang

The purpose of this paper is to examine the evolution of China's securities market regulation from 1980 to 2007 and the dual role of the government in this process.

Abstract

Purpose

The purpose of this paper is to examine the evolution of China's securities market regulation from 1980 to 2007 and the dual role of the government in this process.

Design/methodology/approach

When the government is simultaneously the owner and regulator of the securities market, the evolution of securities market regulation follows a path of compulsory institutional change. China's Government authorities have played a dual role in this process by acting both as the securities market regulator and the controlling owner of the stock exchanges. The paper uses the evolution of China's securities market regulation from 1980 to 2007 to illustrate this theoretical framework.

Findings

Using the case of China, this paper provides unique evidence of how securities regulation evolves in response to government direction and supervision if the government is both the owner and the regulator of the securities market.

Originality/value

The paper offers insight into issues of securities market regulation in China and other emerging markets.

Details

Journal of Financial Regulation and Compliance, vol. 18 no. 2
Type: Research Article
ISSN: 1358-1988

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Article

Alan Earl‐Slater

The pharmaceutical business has long been a source of controversy, particularly the ability to market a drug for human consumption. The thalidomide disaster of the late…

Abstract

The pharmaceutical business has long been a source of controversy, particularly the ability to market a drug for human consumption. The thalidomide disaster of the late 1950s and early 1960s invoked all nations in the 15 member states of the EU to require that a pharmaceutical product intended for human consumption have an official market licence before it is allowed onto the nation’s market. Until December 1994 each nation in the EU could decide itself what products came onto its market. From January 1995 the European Commission, facilitated by the European Medicines Evaluation Agency, has had the power to decide on applications for pan‐EU market licences. Explores the new EU licensing system, drawing from past and present experience, and argues that although complex at least four sets of motivations lie behind the construction of the EMEA system: the EU prisoners’ dilemma; four types of market failures; extensions of politico‐bureaucratic business and, finally, the inability of the pharmaceutical industry to nurture effectively any feasible alternative to the new system.

Details

European Business Review, vol. 96 no. 1
Type: Research Article
ISSN: 0955-534X

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