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This article explores the importance, measurement and use of non‐financial performance measures in the wine industry. Results are compared to a similar study done on US Fortune 500 and Canadian Post 300 companies. Findings indicate that a large percentage of US wineries believe in the importance of non‐financial performance measures, especially in the areas of process/product quality and overall customer satisfaction. On average, less than half the wineries are actually measuring for these factors. Also, while some wineries measure non‐financial performance, they then do not use the results of their findings in making strategic business decisions. The wineries differed from the Fortune 500 and Post 300 companies in that they ranked the measurement of employee involvement much higher in importance and market performance measurement much lower in importance.

Ageing is a fundamental issue for the future of the planet. An ageing society challenges basic assumptions of modern culture and political economy. This paper explores alternative futures of ageing in Queensland, understanding that certain assumptions about Queensland’s future are given. It is also focused on probable futures, and not on every possible future. Based on this map of the future‐developed through causal layered analysis and scenario planning – policy recommendations are developed for the Queensland Government.

This paper aims to investigate the ways in which “non-collaborative co-creation” can affect brand equity as perceived by independent observers. It reports a study of the different effects on that perception attributable to non-collaborative co-creation that takes the form of either “brand play” or “brand attack” and is executed either by established artists or mainstream consumers.

A 2 × 2 between-subjects experiment (brand play versus brand attack; consumer versus artist) measured observers’ perception of brand equity before and after exposure to purpose-designed co-created treatments.

Non-collaborative co-creation has a negative effect on observers’ perceptions of brand equity and brand attack, causing a stronger dilution of brand equity than brand play. Artists either mitigate the dilution or have a positive effect on those perceptions.

Future research could usefully investigate the relative susceptibility of brands to non-collaborative co-creation, the effects on brands of higher complexity than those in our experiment, exposed in higher-involvement media, and the effects of more diverse forms of co-creation.

Brand managers must recognise that co-creation carries considerable risks for brand equity. They should closely monitor and track the first signs of non-collaborative co-creation in progress. It could be beneficial to recruit artists as co-creators of controlled brand play.

This study offers a more complete insight into the effect of non-collaborative co-creation on observers’ perceptions of brand equity than so far offered by the existing literature. It connects the fields of brand management and the arts by investigating the role and impact of artists as collaborative or non-collaborative co-creators of brand equity.

This paper aims to present historical examples of collaborations between brand strategists and artists; provide an extensive, structured overview of existing published research on such collaborations and their effects; present seven papers comprising this special issue; and discuss ideas for further research into brand–art collaboration.

This is an editorial based mainly on an extensive and broad literature review.

First, this editorial underpins the relevance of brand–art collaboration in the past and present by reference to real examples. Second, it structures the diverse literature into four key aspects of the topic: inspiration, insights, identity and image. Third, it provides a glimpse of the seven papers selected for this special issue. Fourth and finally, it identifies a total of 16 avenues for further research, on four levels (artist, brand owner, consumer and cooperation process).

This editorial and the entire special issue together represent the first anthology on the topic of the interface between brand management and arts. The collection and classification of the existing literature, the formulation of ideas for future research and the content of the seven papers are collectively excellent starting springboards for new and fresh brand research projects.

The purpose of this paper is to review the 1985-1991 project called “The Consumer Behavior Odyssey”, including a retrospective assessment of its context and role in influencing consumer research paradigms.

The study is based on personal recollections, introspective fieldnotes from the Odyssey and various publications and videos that emerged from the project. It also reflects on several subsequent “inside” and “outside” accounts of the project and its impact.

The paper concludes that the Odyssey was a critical event within a nexus of other critical events that helped precipitate what is now widely called Consumer Culture Theory. It was a highly visible project that acted as a lightning rod that attracted both supporters and opponents at the time, but that ultimately helped carve out a place for interpretive, qualitative, visual and ethnographic consumer research within business schools.

Although there were a number of methodological and research outputs from the Odyssey during the 1980s and early 1990s and there have been several recent “outside” appraisals of its influence since then, there has been only one subsequent “inside” account of its ontological and epistemological impact − a 2011 video made for the 50th anniversary of the major funding organization for the project, the Marketing Science Institute. This paper offers a more extensive appraisal by one of the project’s leaders.

This paper aims to provide a history of a number of intellectual debates in marketing theory and consumer research. It outlines the key arguments involved, highlights the politics and acrimoniousness that often accompanied the competition for academic prestige or practitioner remuneration. It weaves the contents of the special issue into its narrative.

This article engages in a broad historical survey of the history of marketing thought, as it pertains to intellectual debate and disputation.

While scholars often articulate objectivity as an intellectual ideal, many of the debates that are explored reveal a degree of intellectual intolerance and this is refracted through the institutional system that structures marketing discourse.

This account provides an introduction to the intellectual debates of the last century, highlighting the ebb and flow of marketing thought. It calls attention to debates that are largely under explored and highlights the politics of knowledge production in marketing and consumer research.

Collaboration is the norm in marketing and consumer research, yet the dynamics of academic cooperation are poorly understood. The aim of this paper is to probe the sociology of collaboration within marketing scholarship by means of a detailed case study of the seminal consumer odyssey.

The paper presents a history of the consumer odyssey based on a range of secondary sources.

The consumer odyssey, one of many collaborate circles in marketing thought, was a seminal moment in the development of marketing research.

This paper encourages reflection on the dynamics of collaboration and the collegial character of marketing scholarship. Also, the paper has implications for institutional policy, for example the RAE, which measures research as an individual endeavour.

This paper presents a rare reflection on the social dynamics of marketing scholarship. Although it focuses on the interpretive research tradition within consumer research, its findings are relevant to every marketing academic, regardless of their philosophical bent, empirical concern or methodological preference.

The life insurance industry has been exposed to high levels of longevity risk born from the mismatch between realized mortality trends and anticipated forecast. Annuity providers are exposed to extended periods of annuity payments. There are no immediate instruments in the market to counter the risk directly. This paper aims to develop appropriate instruments for hedging longevity risk and providing an insight on how existing products can be tailor-made to effectively immunize portfolios consisting of life insurance using a cointegration vector error correction model with regime-switching (RS-VECM), which enables both short-term fluctuations, through the autoregressive structure [AR(1)] and long-run equilibria using a cointegration relationship. The authors also develop synthetic products that can be used to effectively hedge longevity risk faced by life insurance and annuity providers who actively hold portfolios of life insurance products. Models are derived using South African data. The authors also derive closed-form expressions for hedge ratios associated with synthetic products written on life insurance contracts as this will provide a natural way of immunizing the associated portfolios. The authors further show how to address the current liquidity challenges in the longevity market by devising longevity swaps and develop pricing and hedging algorithms for longevity-linked securities. The use of a cointergrating relationship improves the model fitting process, as all the VECMs and RS-VECMs yield greater criteria values than their vector autoregressive model (VAR) and regime-switching vector autoregressive model (RS-VAR) counterpart’s, even though there are accruing parameters involved.

The market model adopted from Ngai and Sherris (2011) is a cointegration RS-VECM for this enables both short-term fluctuations, through the AR(1) and long-run equilibria using a cointegration relationship (Johansen, 1988, 1995a, 1995b), with a heteroskedasticity through the use of regime-switching. The RS-VECM is seen to have the best fit for Australian data under various model selection criteria by Sherris and Zhang (2009). Harris (1997) (Sajjad et al., 2008) also fits a regime-switching VAR model using Australian (UK and US) data to four key macroeconomic variables (market stock indices), showing that regime-switching is a significant improvement over autoregressive conditional heteroscedasticity (ARCH) and generalised autoregressive conditional heteroscedasticity (GARCH) processes in the account for volatility, evidence similar to that of Sherris and Zhang (2009) in the case of Exponential Regressive Conditional Heteroscedasticity (ERCH). Ngai and Sherris (2011) and Sherris and Zhang (2009) also fit a VAR model to Australian data with simultaneous regime-switching across many economic and financial series.

The authors develop a longevity swap using nighttime data instead of usual income measures as it yields statistically accurate results. The authors also develop longevity derivatives and annuities including variable annuities with guaranteed lifetime withdrawal benefit (GLWB) and inflation-indexed annuities. Improved market and mortality models are developed and estimated using South African data to model the underlying risks. Macroeconomic variables dependence is modeled using a cointegrating VECM as used in Ngai and Sherris (2011), which enables both short-run dependence and long-run equilibrium. Longevity swaps provide protection against longevity risk and benefit the most from hedging longevity risk. Longevity bonds are also effective as a hedging instrument in life annuities. The cost of hedging, as reflected in the price of longevity risk, has a statistically significant effect on the effectiveness of hedging options.

This study relied on secondary data partly reported by independent institutions and the government, which may be biased because of smoothening, interpolation or extrapolation processes.

An examination of South Africa’s mortality based on industry experience in comparison to population mortality would demand confirmation of the analysis in this paper based on Belgian data as well as other less developed economies. This study shows that to provide inflation-indexed life annuities, there is a need for an active market for hedging inflation in South Africa. This would demand the South African Government through the help of Actuarial Society of South Africa (ASSA) to issue inflation-indexed securities which will help annuities and insurance providers immunize their portfolios from longevity risk.

In South Africa, there is an infant market for inflation hedging and no market for longevity swaps. The effect of not being able to hedge inflation is guaranteed, and longevity swaps in annuity products is revealed to be useful and significant, particularly using developing or emerging economies as a laboratory. This study has shown that government issuance or allowing issuance, of longevity swaps, can enable insurers to manage longevity risk. If the South African Government, through ASSA, is to develop a projected mortality reference index for South Africa, this would allow the development of mortality-linked securities and longevity swaps which ultimately maximize the social welfare of life assurance policy holders.

The paper proposes longevity swaps and static hedging because they are simple, less costly and practical with feasible applications to the South African market, an economy of over 50 million people. As the market for MLS develops further, dynamic hedging should become possible.

The purpose of this paper is to reflect upon the author’s involvement in the paradigm wars of the 1980s in marketing and consumer research. In this paper, the author describes his role in the ecological succession of the discipline at a critical juncture between the early efforts of the pioneering scholars and the establishment of a mature climax community of consumer culture theorists.

The author employs an autobiographical approach.

Among the many contributions of a host of talented and insightful fellow travelers, the author’s penchant for ethnographic research and anthropological analysis helped nudge the discipline into interesting new niches.

This personal reminiscence of the philosophical debates surrounding our interpretive turn may be triangulated with others to construct a synchronic account of a moment in disciplinary evolution.

The purpose of this paper is to examine how rural entrepreneurship is discussed by analyzing articles in the leading journals of the two main research fields, entrepreneurship studies, and rural studies, through the concept of rural proofing.

The systematic literature review centers on the two main fields where rural entrepreneurship is studied and covers papers in nine leading journals in entrepreneurship studies and two leading journals in rural studies, between the years 1989 and 2020. In total, 97 papers were reviewed and we utilize and operationalize the rural proofing concept based on Fahmy et al.'s (2004) 3 characteristics of rural: remoteness, accessibility, and rural locale and sense of place. The authors take stock of the dimensions of rural proofing addressed within each of the research fields to find similarities and differences; that is, if articles are rural proofed (or not) when discussing rural entrepreneurship.

The classification of articles across the three dimensions of rural proofing shows that the field of rural entrepreneurship is being addressed mainly in the dimensions of remoteness and accessibility, while few authors in rural studies journals give priority to the rural locale and sense of place dimension. The results of the authors' review reveal that out of a total of 97 articles on rural entrepreneurship, 56 articles address at least one dimension of rural proofing and 41 articles do not address any dimension. Among the 41 articles not rural proofed, rurality is not problematized when discussing rural entrepreneurship. Instead, the authors focus on specific topics such as social capital, community entrepreneurship/networks, entrepreneurs'/farmers' identity, illegality in rural areas, and institutional framework. The number of non-rural-proofed articles in entrepreneurship journals is almost double that in rural studies journals. This means that authors in entrepreneurship journals do not problematize rurality to the same extent as authors in rural studies journals when addressing rural entrepreneurship.

The authors emphasize the need for increased cross-fertilization between the fields of entrepreneurship and rural studies as an avenue to develop the entrepreneurship field in the direction towards rural proofing. A close collaboration with academia and policymakers is essential to promote interdisciplinary research in order to make a distinctive contribution to rural development. Scholars in either of the two fields will benefit from our review and identification of similarities and differences in the research. The review is one step towards promoting a closer dialog between the two fields.

Previous reviews have focused mainly on what rural entrepreneurship entails (e.g. what topics are discussed) rather than how rural entrepreneurship is discussed. This paper centers on the differences and similarities of the two main fields and provides an in-depth qualitative analysis of how rural entrepreneurship is discussed by utilizing the rural proofing concept.