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Social trading platforms are considered to be amongst the major innovations in online trading. The purpose of this article is to analyze the trading activity of traders on social trading networks by taking a behavioral approach. Additionally, the authors investigate the factors that influence the irrational part of trading activity derived from the key characteristics of these platforms, i.e. those dealing with social interaction.

The investigation utilizes an extensive set of trading data from two major platforms in Germany to study the trading behavior. The authors apply a fixed effects two-stage least squares (2SLS) approach to quantify the relationship between trading activity and performance and define overconfidence as the part of trading activity that is irrationally motivated and results in negative returns.

The results provide evidence for the negative relationship between overconfidence and return on social trading platforms. The authors find that the number of followers and some platform-specific features significantly affect the trading behavior of the traders.

The authors contribute to the existing literature by exploring how the novel social interaction characteristics of online trading impact trading activity by giving rise to a new dimension of overconfidence. In addition, the authors evidence that the different frameworks of the platforms motivate heterogenous behavioral responses by the signalers. Finally, the authors refine existing studies by applying a distinct methodology for modeling overconfidence.

This paper aims to investigate a double puzzle, empirical and theoretical. Empirically, can the authors document the influence of groups on financial decisions in investments and trading? Theoretically, if decisions in a group context can be documented, how can we account for them, against the background of the normative models, according to which financial decisions are individualized and atomized? Based on interviews and ethnographic observations with fund managers, analysts and traders, the authors document here decision-making in finance. Theoretically, the authors argue that financial decisions can be explained if, in addition to cognitive processes, the authors take into account the impact of social interactions on the decision-making process. Social interactions are not restricted to imitation processes, and can be seen here as the efforts deployed by decision-makers at maintaining and managing the context of their decisions. The authors present and discuss empirical evidence and argue that the study of social interactions can productively contribute to understanding how decisions are made in finance.

The data analyzed here have been gathered between 2001 and 2011, and include: interviews with investment professionals (fund managers and analysts) from the UK and Turkey; interviews with individual investors from the UK and the USA; and observations with individual investors from the UK and the USA. This captures decision activities conducted in different regulatory frameworks of those countries. The authors focussed in the interviews on general decision-making practices.

Conclusion the authors have sought to answer a double puzzle, empirical and theoretical. Empirically, the puzzle is how investors and traders resort to groups in their decision-making. Theoretically, the puzzle consists not only in providing an explanation for such processes but also in taking into account that they do not fit the normative models of decisions in mainstream finance. The argument has been that in addition to the cognitive processes identified and discussed in behavioural finance, the authors need to take into account the impact of social processes as well. Social processes include the efforts deployed by financial decision-makers at maintaining and managing the contexts within which decisions are made. The work of context maintenance is intrinsic to the logic of decision-making. The authors have identified, documented and discussed here the social dynamics in financial decisions with respect to performance, managing group relationships and possible conflicts.

Managing relationships within groups is not without consequences with regard to trading decisions. Oftentimes, avoiding group conflicts – or being confronted with them – leads to decisional adjustments, which have less to do with returns on trades than with the necessity of accommodating social relationships. As several of the interviewees emphasized, making decisions implies consensus and reaching consensus requires accommodating relationships.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Social media communications on platforms such as Facebook and LinkedIn can allow managers to interact cost effectively with trading partners. However, although most firms have an online presence on multiple social media platforms, the question remains as to whether marketers’ widespread social media investments are beneficial for firms. The paper aims to discuss this issue.

This paper presents competing hypotheses to explore how firms’ investment in one form of social media impacts activity on another form of social media. To do so, the authors draw on a data set of 208 large Australian organizations using objective social media activity metrics that measure business-to-business (B2B) audience engagement.

The findings suggest that widespread social media activity on LinkedIn, Twitter, and YouTube negatively affects a firm’s marketing activity on Facebook. The results indicate that having a social media preference whereby firms focus on a specific social media platform is more effective in forming successful inter-organizational relationships than a multiplatform approach.

The study contributes to the sparse research that seeks to leverage social media for audience engagement beyond a business-to-consumer context. The study’s findings provide insights into the key mechanisms that underlie firms’ B2B social media strategies, and in so doing, offer a fresh perspective on the importance of interactive marketing communication.

The purpose of this paper is to examine how mapping of social enterprises has been carried out in the past, and the challenges being faced by current studies. It pays particular attention to the definitions used and how these definitions are operationalized. The challenges and future opportunities are examined, and recommendations are made for policy makers commissioning studies.

The paper draws on a range of different approaches, namely literature reviews, interviews with key informants, focus group type discussions with social enterprise support providers and researchers in different UK regions (in 2004), and focus group type discussions with policy makers in 2008.

There has been a variety of approaches with different definitions and politically‐driven interpretations of definitions, which limits the ability to compare results. A particular challenge has been in interpreting what is meant by “trading income” or “social” aims. This presents interesting political dilemmas with many studies avoiding clarity in order to be inclusive thereby reducing the rigour of their data collection and analysis.

Research at a national and regional scale is being carried out to identify the scale of the sector so public sector support resources can be justified, support can be targeted, and public sector spending can be evaluated. These approaches will need to be explicit about how they are carrying out the research, recognise the political nature of definitions and to address the challenges identified.

This paper will be used by researchers examining the impact and extent of social enterprises and policy makers commissioning such studies.

The Social Enterprise Mark (SEM) is claimed to be the first award that guarantees to the public that an organisation is a social enterprise. To date, there has been limited discussion of its conceptual dimensions and legitimacy. This paper seeks to make a contribution to knowledge by critically discussing its conceptual dimensions and exploring its impact.

This exploratory study uses feedback from participants on open access co‐operative and social enterprise workshops. They were asked to study published SEM criteria then rank ideal types of social enterprise activity (a worker co‐operative, a trading charity and a self‐employed consultant) in order of likelihood of obtaining the SEM.

Workshop participants from different backgrounds drew the conclusion that SEM criteria favour trading charities and community interest companies with social and environmental objects, not enterprises that deliver social benefits through transforming labour relations and wealth sharing. Participants reacted to their own deliberations differently depending on their sectoral affiliation.

Attempts by the academic community to define the social enterprise sector have run into linguistic and practical problems. Definitions tend to privilege one group of social enterprises over another. The arrival of the SEM in the UK takes place amidst these conceptual and practical difficulties.

The SEM criteria contribute to social constructions of social enterprise that favour “social purpose” enterprises that explicitly target a beneficiary group or community, and not “socialised” enterprises that transform labour relations, promote participative democracy, and design new wealth sharing arrangements.

The paper suggests there has been a shift away from the co‐operative values advanced by the founders of the UK social enterprise movement. To secure legitimacy, the paper proposes changes to the SEM to re‐establish the conceptual alignment of social enterprise and the social economy.

The purpose of this paper is to examine the historical position of the ethical consumer as a driver of change within the Fair Trade movement. Fair Trade was originally envisaged as a model of South-North trade; however, with Fair Trade labels now available to consumers in India, Brazil, South Africa and Kenya, the geographies of production and consumption appear increasingly fluid and dynamic.

Using a historical comparative case study approach this paper draws on the records and archives from eight leading Fair Trade organisations based in the UK.

The paper develops an exploratory framework based on an assessment of Fair Trade’s theory(ies) of change and the role of the ethical consumer as an agent of change. Four consumer narratives are identified: simpler living and moral action; co-operation and solidarity; consumer demand and choice; and citizen-consumers. The paper concludes by considering the implications for globalising the concept of the “citizen-consumer” and the (re)politicisation of Fair Trade consumption.

Primary data collection was mainly based on UK organisations. Additional comparative studies could develop an understanding of the context and geographies of Fair Trade practices.

New and emerging Fair Trade markets may offer valuable areas of further study.

Increased understanding of the drivers of social change may lead to improved decision-making by Fair Trade organisations and policy-makers.

The paper contributes to the development and understanding of Fair Trade’s theory of change model by offering an historical dimension that is absent from the majority of existing studies.

To expand understandings of conflict, this chapter offers a detailed assessment of how exchange is enacted within local heroin markets. Addressing drug dealing and heroin users’ buying drugs for their peers (i.e., brokering), this research expands how illegal drug markets are commonly understood. A generalized framework is presented that highlights patterns of exchange.

Findings come from a 36-month study of a demographically diverse sample of 38 heroin users in Cleveland, OH. Methods involved open-ended, semi-structured interviewing and participant observation, conducted by the author and a team of graduate students.

Instead of framing exchange as either an economic or social act, this chapter shows how trade in heroin markets is often both. Here Gudeman’s (2001) dialectic between market and community is embodied in inter-subjectivities of traders, promoting both trust and conflict. In this context, conflict is the result of perpetual ambiguity all market participants can experience.

Applying a blended notion of exchange as both social and economic offers new insight on conflict and expands its orientation beyond narratives of political economy. Here, in addition to the economics that often promote conflict, the social elements of exchange (e.g., reciprocity) are emphasized.

Research has understood conflicts in drug market operations through trader characteristics (e.g., poverty, race, class, privilege). This chapter emphasizes opportunities for conflict irrespective of individualized characteristics by outlining structural elements of exchange.

Fair trade organisations (FTOs) have been taken quite early as examples of Social Enterprises (SE) and have contributed to the shaping of the SE concept. The purpose of this paper is to examine more deeply the link between FTOs and SE, both at a conceptual and at an empirical level.

First, different theoretical frameworks of SE are introduced and confront FT to each of these frameworks. The second step is an empirical study of FTOs across four European countries to illustrate and deepen the links between FT and SE, focusing on the goals and the governance structures of FTOs.

All the FTOs combine in some way economic, social and sometimes also political goals. FTOs are thus coherent to the “hybrid goals” nature of SEs. FTOs' governance is also quite specific and often innovative in terms of organisational architecture and stakeholders' involvement. Some FTOs are closer to the European – participatory – approach while others are closer to US – individual – approaches. Finally, the governance structures of FTOs seem to reflect quite well their goal mix.

This paper provides a more solid basis for the often implicit link between FT and SE. Future researches could use this work to explore specific topics of the SE literature in the context of FT (e.g. stakeholders' involvement). The FT example could also be used to examine further the shifting boundaries of the SE reality.

The originality of this paper is to apply the SE concept to a specific field and to show how, within this field, there is at the same time a diversity of organisations, reflecting the diversity of SE approaches; and a range of specific features (especially in terms of goal mix and governance) distinguishing SEs from other types of organisations.

The purpose of this paper is to review current conceptualisations of social enterprise and present a new theoretical model for social enterprise in the UK.

This conceptual paper draws on the rise of social enterprise in the UK context. Social enterprise in the UK emerged around the 1980s, in both political consciousness and as an academic discipline. The paper explores organisational antecedents to develop a conceptual model that prioritises different legal forms of social enterprise in the UK regulatory framework.

In critiquing policy, practitioner and academic publications, as well as the theoretical models that operationalise social enterprise, there are two observations from the literature this paper examines: first, Theories to date have tended to conceptualise social enterprise as a single hybrid form, neglecting a consideration of the various legal identities, ownership and governance types; second, Theoretical models have tended to overlook the cultural, regional and political-economic histories within their conceptualisations.

The value and originality of this paper lies in offering a new paradigm in the conceptualisation of social enterprise in the UK. This is a new contribution to knowledge that strengthens an understanding of the field. This paper creates the space to broaden and appreciate ideologically and operationally different hybrid business types of social enterprises that include charitable, solidarity and entrepreneurial type social enterprises.