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Book part
Publication date: 18 December 2016

Jade Wong, Andreas Ortmann, Alberto Motta and Le Zhang

Policymakers worldwide have proposed a new contract – the ‘social impact bond’ (SIB) – which they claim can allay the underperformance afflicting not-for-profits, by tying…

Abstract

Policymakers worldwide have proposed a new contract – the ‘social impact bond’ (SIB) – which they claim can allay the underperformance afflicting not-for-profits, by tying the private returns of (social) investors to the success of social programs. We investigate experimentally how SIBs perform in a first-best world, where investors are rational and able to obtain hard information on not-for-profits’ performance. Using a principal-agent multitasking framework, we compare SIBs to inputs-based contracts (IBs) and performance-based contracts (PBs). IBs are based on a piece-rate mechanism, PBs on a non-binding bonus mechanism, and SIBs on a mechanism that, due to the presence of an investor, offers full enforceability. Although SIBs can perfectly enforce good behaviour, they also require the principal (i.e., government) to relinquish control over the agent’s (i.e., not-for-profit’s) payoff to a self-regarding investor, which prevents the principal and agent from being reciprocal. In spite of these drawbacks, in our experiment SIBs outperformed IBs and PBs. We therefore conclude that, at least in our laboratory test-bed, SIBs can allay the underperformance of not-for-profits.

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Experiments in Organizational Economics
Type: Book
ISBN: 978-1-78560-964-0

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Article
Publication date: 2 October 2019

Gökcay Balci, Aylin Caliskan and Kum Fai Yuen

In recent years, the business of container lines has faced severe challenges such as overcapacity and low profitability. To survive in such a competitive market, container…

Abstract

Purpose

In recent years, the business of container lines has faced severe challenges such as overcapacity and low profitability. To survive in such a competitive market, container lines need to maintain long-term customer relationships by enhancing the satisfaction and loyalty of customers. The purpose of this paper is to adopt a social exchange theory (SET) approach and investigate the impact of relational bonding strategies on the satisfaction and loyalty of customers in container shipping.

Design/methodology/approach

Drawing on SET, a theoretical model that specifies the relationships between relational bonding strategies, customer satisfaction and loyalty was proposed. Survey data were collected from 175 freight forwarders. The obtained data were analyzed using structural equation modelling.

Findings

The results indicate that financial bonding strategies have the most significant direct effects on customer satisfaction, while social bonding strategies have the strongest direct impact on customer loyalty. Financial bonding strategies, on the other hand, have the strongest total effects on customer loyalty. Intermodal and basic operations are found to have the equal total effects on customer loyalty.

Research limitations/implications

By identifying the most effective relational bonding strategies for enhancing customer satisfaction and loyalty, this study’s findings allow container lines to better allocate their resources and implement effective relational marketing policies to satisfy and retain their customers.

Originality/value

This research analyses and validates the determinants of customer satisfaction and loyalty from a relational lens and empirically contributes to the field of relational marketing in the container shipping industry.

Details

International Journal of Physical Distribution & Logistics Management, vol. 49 no. 8
Type: Research Article
ISSN: 0960-0035

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Article
Publication date: 7 May 2021

Thi Minh Trang Tran, Su-Han Woo and Kum Fai Yuen

To gain competitive advantage, shipping companies need the abilities to manage environmental requirements, which this study refers to as sustainable shipping capabilities…

Abstract

Purpose

To gain competitive advantage, shipping companies need the abilities to manage environmental requirements, which this study refers to as sustainable shipping capabilities, including internal resources and external factors such as inter-firm collaboration. However, previous studies mainly focused on the effectiveness of internal resources, leading decision-makers in shipping companies to undervalue the significance of external relationships in managing sustainability issues and their impact on performance. Therefore, this paper aims to identify and examine the impacts of sustainable inter-firm collaboration on shipping companies' business performance (i.e. shippers' loyalty and financial performance).

Design/methodology/approach

A proposed model that explains the relationships between relation bonding strategies, sustainable inter-firm collaboration and business performance was developed. Accordingly, a survey questionnaire was constructed and sent to 294 shipping companies in Vietnam. Structural equation modeling was deployed to examine the validity of the measurement items and investigate relationships among the latent constructs.

Findings

The findings show that financial bonding strategies have the most significant impact on sustainable inter-firm collaboration, followed by social bonding strategies and structural bonding strategies. Furthermore, sustainable inter-firm collaboration has direct and indirect (via perceived shippers' loyalty) effects on business performance.

Research limitations/implications

Relational bonding strategies provide a unique perspective to sustainable inter-firm collaboration. This study also contributes to allocate external resources and capabilities to improve inter-firm collaboration, thereby maximizing financial performance.

Originality/value

This paper contributes to the literature by applying relational bonding strategies that determine the key factors enabling sustainable inter-firm collaboration.

Details

The International Journal of Logistics Management, vol. 32 no. 3
Type: Research Article
ISSN: 0957-4093

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Article
Publication date: 8 May 2017

Marcel Paulssen and Raphael Roulet

Research on how social bonding between boundary spanners influences relationship outcomes in business-to-business (B2B) settings is sparse and controversial. This…

Abstract

Purpose

Research on how social bonding between boundary spanners influences relationship outcomes in business-to-business (B2B) settings is sparse and controversial. This longitudinal study aims to close this gap and assess the impact of social bonding on the share of wallet and actual cross-buying behaviour.

Design/methodology/approach

B2B relationships between a manufacturer of light commercial vehicles and its customers were investigated. A random sample of fleet managers answered two telephone surveys.

Findings

Social bonding was found to affect both investigated relationship outcomes, share of wallet and cross-buying, through the generation of trust over and above the customer’s perceptions of value.

Research limitations/implications

Only one product category was investigated in this study, and further research should explore boundary conditions for the relevance of social bonding in B2B.

Practical implications

Social bonding represents one lever (next to value perceptions) for building a competitive advantage in a B2B context. Relationship marketing activities that are intended to strengthen the development of social bonds between customers and account managers should be encouraged.

Originality/value

The authors provide clear evidence regarding the disputed impact of social bonding between boundary spanners on relationship outcomes in B2B relationships by testing its impact on real purchase behaviour and not only purchase intentions, as is the case in most published studies to date.

Details

European Journal of Marketing, vol. 51 no. 5/6
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 18 May 2012

Prithwiraj Nath and Avinandan Mukherjee

The marketing literature theorizes the adoption of the relationship marketing paradigm to foster stronger customer relationships. However, empirical evidence is scarce on…

Abstract

Purpose

The marketing literature theorizes the adoption of the relationship marketing paradigm to foster stronger customer relationships. However, empirical evidence is scarce on how consumers' ability to judge the service influences such relational exchange. This paper aims to examine how information asymmetry influences a service firm's initiative to build customer relationships. The relationship marketing literature proposes conceptually that relational bonds and their interaction influence relationship outcomes. However, there is no empirical study to verify such an interactive effect. This study aims to provide empirical evidence on how interaction effects between relational bonds can act as buffers in developing customer relationships.

Design/methodology/approach

In the first stage, this study classifies financial services offered by retail banks into search, experience, and credence (SEC) categories. In the second stage, this paper uses survey data from 452 UK retail bank customers to understand the effect of relational bonds on consumer future intentions in information asymmetry context using hierarchical regressions.

Findings

The results show that relational bonds have differential impacts on firms' initiative to develop consumer relationship, and information asymmetry moderates this relationship. A positive synergistic association is present between relational bonds that strengthen their effectiveness in influencing relationships.

Originality/value

This study is the first attempt to demonstrate the moderation role of information asymmetry on relational bonds→relationship quality→relationship outcome framework. The findings provide directions to managers on how to have a balanced approach in their relationship building efforts.

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Article
Publication date: 6 May 2014

Marcel Paulssen, Raphael Roulet and Sina Wilke

The purpose of this paper is twofold: first, to investigate the role of perceived risk as a moderator of the key relational mediators of satisfaction and trust, and…

Abstract

Purpose

The purpose of this paper is twofold: first, to investigate the role of perceived risk as a moderator of the key relational mediators of satisfaction and trust, and second, to test the influence of perceived product value and social bonding as antecedents of brand satisfaction and brand trust to understand their effectiveness under different risk conditions. Palmatier et al. (2006) call for the study of moderators of relational mediators, such as trust and satisfaction, which may determine the effectiveness of different relationship marketing strategies.

Design/methodology/approach

This study investigates business-to-consumer relationships between a car brand and its customers, applying structural equation modeling.

Findings

Results show that perceived risk moderates the mediating role of both brand trust and brand satisfaction on relationship outcomes. When perceived risk is low, brand satisfaction alone determines brand loyalty, whereas when perceived risk is high, brand trust exclusively determines brand loyalty. Thus, the effectiveness of social bonding tactics as a prime determinant of trust is contingent on consumers’ risk perceptions.

Research limitations/implications

A limitation of the present research is its focus on one product category. Further investigations should be conducted to expand the findings’ generalizability.

Practical implications

The often-recommended social bonding between boundary spanner and customers is only an effective relationship marketing strategy in situations of high perceived risk.

Originality/value

This study clarifies the role of perceived risk in marketing relationships by testing alternative models.

Details

European Journal of Marketing, vol. 48 no. 5/6
Type: Research Article
ISSN: 0309-0566

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Book part
Publication date: 3 September 2015

Melissa A. Menasco

This study is a comparison of male and female delinquent behaviors utilizing a large sample in a test of social control theory.

Abstract

Purpose

This study is a comparison of male and female delinquent behaviors utilizing a large sample in a test of social control theory.

Methodology/approach

A sample of 8,363 adolescent 10th graders was drawn from the U.S. National Educational Longitudinal Study (NELS). The sample consisted of 3,774 males and 4,589 females. This work utilized logistic regression and ordinary least squares to determine whether adolescent behaviors such as smoking cigarettes, drinking alcohol, using marijuana, and other delinquent behaviors are linked to weak social bonds.

Findings

The findings of this study provide limited substantiation of social control theory for both sexes. Females who were found to have strong social bonds were less likely to engage in delinquent behaviors than males. For both sexes, the strongest element of the social bond was the element of belief.

Research limitations/implications

These results may be specific to the United States.

Practical implications

Understanding contributing factors to adolescent substance use and delinquency will assist in developing social policy that will support families.

Originality/value

This study provides insight into the differentiated nature of the social bond for males and females. Knowing that belief is an integral component in determining the strength of the social bond will aid in the development of social policies.

Details

Violence and Crime in the Family: Patterns, Causes, and Consequences
Type: Book
ISBN: 978-1-78560-262-7

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Article
Publication date: 8 May 2018

Nazrul Hazizi Noordin, Siti Nurah Haron, Aznan Hasan and Rusni Hassan

The purpose of this study is to provide a critical review on how the Khazanah’s Sukuk Ihsan was structured in compliance with the requirements for issuance of Sustainable…

Abstract

Purpose

The purpose of this study is to provide a critical review on how the Khazanah’s Sukuk Ihsan was structured in compliance with the requirements for issuance of Sustainable and Responsible Investment (SRI) sukuk set by the Securities Commission (SC) Malaysia.

Design/methodology/approach

To explain the structures and features of the Sukuk Ihsan, this study extracted important information from the sukuk’s Principle Terms and Conditions and Information Memorandum and presented them in a simple and easy-to-understand way. Next, this study refers to Part D: Requirement for Issuance, Offering or Invitation to Subscribe or Purchase Sustainable and Responsible Investment Sukuk of the SC’s Guidelines on Sukuk (revised edition: 28 August 2014) to assess the compliance of the sukuk in terms of eligibility of SRI sukuk issuer and SRI projects, use of proceeds, reporting and disclosure and independent assessment on SRI programmes. In addition, this study then compares the requirements stated in the SC’s SRI Sukuk Framework with the International Capital Market Association’s Green Bond Principles (GBP) and the USA’s Social Impact Bond (SIB) Act 2014.

Findings

The present study finds that the definition of eligible SRI sukuk issuer in the Guidelines on Sukuk seems to be more stringent compared to the one provided in the GBP and the US’ SIB Act. Nevertheless, the SRI Sukuk Framework provides a more comprehensive yet precise list of eligible SRI projects, covering both environmental and social aspects, compared to the GBP (which only focuses on broad categories of environmental projects) and also the USA’s SIB Act (explicitly outlines 13 social projects which are aligned with the US Federal Government’s agenda in tackling social illnesses). Indeed, the main difference between the eligible SRI sukuk projects and its conventional counterparts lies in its compliance to Shariah principles. It is also observed that a significant emphasis has been given on SRI legislations in ensuring proper reporting and disclosure provided to the SRI sukuk stakeholders together with critical evaluation on the impacts of SRI programmes provided by an independent assessor.

Practical implications

This paper contributes towards enriching the literature on the Islamic capital market, particularly on the integration between sukuk and social impacts investing. This paper was intended to highlight the important requirements in issuing SRI sukuk to various stakeholders of the Islamic capital market.

Originality/value

The authors hope to shed some lights on the unique features and structural applications of SRI sukuk and its importance in becoming an effective instrument to raise funds for social agenda of a country by providing a real and practical example.

Details

Journal of Islamic Accounting and Business Research, vol. 9 no. 3
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 8 January 2021

Jose Alemany, Elena Del Val and Ana María García-Fornes

Online social networks (OSNs) provide users with mechanisms such as social circles and individual selection to define the audiences (i.e., privacy policy) of the shared…

Abstract

Purpose

Online social networks (OSNs) provide users with mechanisms such as social circles and individual selection to define the audiences (i.e., privacy policy) of the shared information. This privacy decision-making process is a hard and tedious task for users because they have to assess the cost-benefit in a complex environment. Moreover, little is known about how users assess the cost-benefit of matching the elements of online communication and their interests. Therefore, the purpose of this paper is to develop and test a research model to understand the impact that the types of receivers and the sensitivity of messages have on privacy decisions.

Design/methodology/approach

A study was conducted to understand how users evaluate the cost-benefit of the disclosure action in online social networks for the different types of receivers identified and the sensitivity of the message. Data from 400 respondents was collected and analyzed using partial least squares modeling.

Findings

The findings of this study demonstrated a trade-off variance between the perceived cost-benefit and the disclosure of sensitive information with different receiver types. Disclosing personal information with trusted receivers, influencer receivers and receivers from the circle of coworkers had a positive significant effect on social capital building. Conversely, disclosing personal information with receivers from the circle of family or unknown receivers had a significant negative effect on social capital building and even a significant positive effect on privacy concerns.

Originality/value

Recent literature has documented the increasing interest of the research community in understanding users' concerns and interests in making the most suitable privacy decisions. However, most researchers have worked on understanding the disclosure action from a user-centered perspective and have not considered all of the elements of online communication. This study puts the focus on all of the elements of communication during disclosure actions, taking into account the properties of the message and receivers and the impact on users' cost benefit value.

Details

Internet Research, vol. 31 no. 4
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 14 April 2014

Kaisa Henttonen, Jan-Erik Johanson and Minna Janhonen

– The focus in this paper is on the extent to which bonding and bridging social relationships predict the performance effectiveness and attitudinal (identity) outcomes.

Abstract

Purpose

The focus in this paper is on the extent to which bonding and bridging social relationships predict the performance effectiveness and attitudinal (identity) outcomes.

Design/methodology/approach

The research was survey-based, involving 76 work teams and a total of 499 employees in 48 organisations.

Findings

The analysis reveals a positive relationship between both bonding and bridging relationships and performance effectiveness and attitudinal outcomes. Team identity mediates the relationship between the team ' s social-network structure and its performance effectiveness.

Research limitations/implications

The research investigates the performance effectiveness and attitudinal outcomes of social networks simultaneously, which is rare, but for study-design reasons fails to investigate behavioural outcomes. More extensive data would reveal more about the possible interaction between bridging and bonding.

Practical implications

In order to improve performance effectiveness managerial attention should focus on building a team and social networks.

Originality/value

The research shows that team identity fully mediates the influence of bonding and bridging social relationships. This finding sheds light on the processes that mediate performance effectiveness, which in turn facilitate understanding of how team dynamics lead to differing performance levels. The results also reveal how the type of social network affects the creation of a team identity: individuals identify with the team through the social networks to which they belong both within it and outside. Thus, team identity matters given the evidence suggesting that those who identify more with their work teams perform more effectively.

Details

Personnel Review, vol. 43 no. 3
Type: Research Article
ISSN: 0048-3486

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