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The study of markets encompasses a number of disciplines – including anthropology, economics, history, and sociology – and a larger number of theoretical frameworks (see Plattner, 1989; Reddy, 1984; Smelser & Swedberg, 1994). Despite this disciplinary and theoretical diversity, scholarship on markets tends toward either realist or constructionist accounts (Dobbin, 1994; Dowd & Dobbin, forthcoming).¹ Realist accounts treat markets as extant arenas that mostly (or should) conform to a singular ideal-type. Realists thus take the existence of markets as given and examine factors that supposedly shape all markets in a similar fashion. When explaining market outcomes, they tout such factors as competition, demand, and technology; moreover, they can treat the impact of these factors as little influenced by context. Constructionist accounts treat markets as emergent arenas that result in a remarkable variety of types. They problematize the existence of markets and examine how contextual factors contribute to this variety. When explaining market outcomes, some show that social relations and/or cultural assumptions found in a particular setting can qualify the impact of competition (Uzzi, 1997), demand (Peiss, 1998), and technology (Fischer, 1992). Constructionists thus stress the contingent, rather than universal, processes that shape markets.

This paper aims to develop and test a conceptual model of organizational structure design that incorporates some factors influencing strategy implementation. The research also aims to consider inter‐functionality in new product development (NPD) processes and marketing decisions, measured from the dispersion of these activities among functional areas.

The research was conducted across 424 small and medium‐sized furniture manufacturing companies. In total, eight hypotheses were proposed and tested using structural equation modeling.

Most important among the study's findings was that inter‐firm relationships and inter‐functional processes are relevant for the study of organizational structure design. It was found that the dispersion of the new product development process and of marketing decisions exert a positive influence on architectural marketing capabilities. The results showed that the dispersion of NPD processes and marketing decisions influence the development of marketing capabilities only in those companies with inter‐firm relationships. The paper also found that inter‐firm design did not affect the impact of the relationship between the dispersion of marketing decisions and NPD process on specialized capabilities.

The study focuses research on Brazilian small to medium‐sized furniture enterprises and could have single‐source bias in its data collection process.

The findings provide insights into ways of integrating structures. It is observed that a higher integration of areas in marketing decisions is related to the dispersion of the NPD process. Given that dispersion in NPD is a disseminated practice, it is found that higher dispersion in marketing activities has an impact on product development.

The paper's findings confirm the influence of organizational design on the development of planning capabilities and on the implementation of marketing strategies.

Ageing populations provoke the question of how much bespoke housing should be provided for the elderly. Older people are generally reluctant to move but as they age health circumstances may encourage moves into specialised accommodation. This paper aims to report on an exercise in estimating the future demand for specialised independent living housing and the extent to which that demand will be for owner occupied accommodation or renting, using data for England.

The most important predictor of demand for specialised housing is the extent of the requirement for at least some degree of long‐term care due to loss of mobility. Therefore, the forecast is formulated around a behaviour‐based model centred on demographic, personal physical mobility and housing tenure factors.

The forecasts indicate a substantial increase in demand, growing at a faster rate than the population as a whole. If supply does not rise to meet these demands, serious problems arise in the quality of life of, and cost of caring for, older people with implications for health care and social services. Moreover, some of the greatest growth is going to be amongst those aged 75 to 84 and amongst the very old 85+ group.

The forecast is based on ELSA estimates. Data on activity and ageing are available from the English Longitudinal Survey of Ageing's (ELSA) Wave 4 2008 data set.

The implication is that in the future far more provision of housing for the elderly will have to take place in the private sector. However, the market provision of specialised retirement housing is likely to be very inadequate for predicted needs. A significant cause of this is a chronic planning‐induced land shortage which keeps the price of retirement accommodation high.

The continuing shortage of specialised housing will mean that hundreds of thousands of the elderly will continue to live in their existing accommodation when bespoke property would better suit their needs. This will further exacerbate general housing shortages, especially as the empty nester elderly do often own substantial family homes. It will also put pressures on care home sector because, in the absence of an appropriate intermediate stage, more will be pushed into care.

It could be argued that the assumptions made in this forecasting exercise contain a number of essentially arbitrary statements. But that is to miss the point of this exercise, which is to suggest that a large potential demand exists on plausible estimates of who might benefit from living in specialised retirement housing.

The purpose of this paper is to highlight the characteristic role of specialized markets and traders in the internationalization of emerging economies by examining the linkages between supply chain management (SCM) and industrial clustering in China.

Multi-method approach was employed as primary data were collected from a case study of Shaoxing textile cluster, and was supplemented with secondary data to triangulate the findings. The proposition that competitive advantages of industrial clusters facilitate effective SCM was explored.

The authors reveal that China’s cost advantage is manifested in the entire value chain. The provision of business friendly amenities as a result of synergetic benefits of vertical and horizontal integration of supply clusters promotes competitiveness of SMEs and region as a whole. Moreover, specialized markets and international traders found to play significant role in sustainable cluster development.

As with fieldwork and case studies, generalization should be drawn with care. Systematic synthesis of relevant case studies is recommended.

The study endorses the construction of local supply chains and suggests implementation of cluster strategy by focusing on environment-specific execution of triple helix model.

The article elaborates the linkages between cluster theory and SCM both within cluster and between interspersed clusters. It also explains how specialized markets and global players are enabling concentrated supply networks. The paper recommends extension of “Triple helix + 1 model” by making local community part of the underlying framework.

The purpose of this paper is to determine the impact that chief marketing executives’ (CMEs) mindsets about important marketing capabilities have on company performance.

The authors propose a structural model for analysing specialised, cross-functional and dynamic capabilities at the functional level of marketing. The model is tested by using a quantitative survey among CMEs. Additionally the authors conducted a cluster analysis with the purpose of identifying differences in CMEs’ mindsets about important marketing capabilities and the impact of these differences on company performance.

The study identified four categories of mindset about important capabilities. An investigation into the company performance profile of each mindset shows that integration and rejuvenation are central qualities of CMEs’ mindsets and important drivers for company performance. Hence, companies that have a CME who prioritises both brand management, product development and customer relationship management as well as a set of specialised and dynamic marketing capabilities will outperform companies that have a CME who focuses on only one area of cross-functional marketing capabilities.

Top managers, including CMEs, can use the typology of mindsets to analyse and critically reflect on their own ideas about important marketing processes and capabilities, but also as a tool for initialising change processes in their business unit or particular function (general management or marketing).

The study provides an original assessment of sets of marketing capabilities at the functional level of marketing, and of the link between dynamic and two cross-functional marketing capabilities (product development and customer relationship management).

The purpose of this paper is to investigate the suitability of Greece as a possible market for truffles. Primary data were collected and analysed in a systematic and detailed way to highlight the strengths, weaknesses, opportunities and threats of this prospective market development.

A multi-stage survey was conducted using qualitative and quantitative research methods. The data obtained were analysed using the SWOT analysis method.

The survey highlighted the market characteristics of truffles in Greece. These were sorted into four categories: strengths, weaknesses, opportunities and risks. Results show that truffles have an attractive mix of qualities; however, issues such as the lack of intermediary and customer knowledge and the limited communication of their benefits need to be overcome.

Findings showed that the use of SWOT analysis in specialized food products provides marketers and professionals’ insight and guidance into designing their marketing activities.

Truffles production or trading requires strong commitment by professionals who want to succeed in this market field.

Truffles market growth could contribute to the social welfare through the creation of supplemental income, the cultivation of arid fields and the conservation of natural resources due to their environmentally friendly manner of production.

For the first time, SWOT analysis is used to investigate the factors that shape the market of specialized products in the food sector.

The purpose of this paper is to analyse the role that different financial sources and financial specialization have on private research and development (R&D) activity in OECD countries.

The authors developed several panel regressions choosing as a final model a two-way random effects regression to understand which funding sources are related to the R&D expenditure, and how financial specialization has links to the private portion of R&D aggregated expenditure. The authors include data from the years 2000 to 2016 for OECD countries.

The results reinforce the critical role that stock markets have in enhancing private R&D and that bond markets have an inverse relationship with private R&D national expenditures. The authors do not find evidence of a link between bank sources and private R&D. Specialized financial systems (banking or market) support innovation in a better way than a mixed arrangement of those two systems.

The findings of this study have considerable policy implications. Policymakers need to be aware of these results, given that some variables related to financial markets, seems to boost the inputs for R&D. In the long term, this could be a signal that national and regional systems of innovation need a broad view of the factors hampering scientific activity, and also a signal that there are other ways to impact the results of the complex innovation activity through the development of stronger financial systems backing up national systems of innovation.

The authors found that the long discussion about the financial system that a country has to choose to enhance growth with R&D&I may have been misleading the public policy. The findings show that rather than a bank or a stock market financial system, economies looking to boost R&D&I, must specialize in one of the two systems, deepen these and generate the appropriate policies to promote science, technology and innovation using those financial markets.

This paper aims to analyse the appraisal of a specialised form of real estate – data centres – that has a unique blend of locational, physical and technological characteristics that differentiate it from conventional real estate assets. Market immaturity, limited trading and a lack of pricing signals enhance levels of appraisal uncertainty and disagreement relative to conventional real estate assets.

Given the problems of applying standard discounted cash flow, an approach to appraisal is proposed that uses pricing signals from traded cash flows that are similar to the cash flows generated from data centres. Based on “the law of one price”, it is assumed that two assets that are expected to generate identical cash flows in the future must have the same value now. It is suggested that the expected cash flow of assets should be analysed over the life cycle of the building. Corporate bond yields are used to provide a proxy for the appropriate discount rates for lease income. Since liabilities are quite diverse, a number of proxies are suggested as discount and capitalisation rates including indexed‐linked, fixed interest and zero‐coupon bonds.

The application of conventional discounted cash flow approaches to the appraisal of data centres requires information about a wide range of inputs that is difficult to derive from market signals or estimate analytically. In practice, discounted cash flow appraisals of data centre facilities are forced to incorporate non‐market assumptions that are inevitably subjective. Cash flows from data centres tend to be more complicated because of the high levels of current and capital expenditure compared with conventional assets. This requires an understanding of the appraisal of liabilities as well as income. Whilst the use of price information from similar cash flows such as corporate bonds is helpful, there are rarely assets and liabilities that have identical cash flows and risks and some approximation is necessary.

The digitalisation of business and society has produced a different form of real estate asset that is specialised, physically complex and whose operation, maintenance and management require specialist staffing and high levels of current and capital expenditure. The complexity of the cash flows and the lack of active trading create significant appraisal problems. This paper proposes an alternative approach to appraisal that utilises external pricing signals to appraise the various incomes and costs.

The paper sets out to consider the impact of China's reform dynamics on its cooperative economy, examining developments both within the statist sector and beyond, in the variety of experimental quasi‐cooperative forms that have grown between plan and market.

The paper employs a field study approach, examining the roles of farmers' specialised cooperatives within the agro‐industrial chain with experiments in Shandong province.

The paper shows that reforms in the cooperative economy have been gradual, uneven and jerky, favouring the more entrepreneurial or better‐placed farmers to pursue new market opportunities. Creating a sustainable mechanism that would protect and even enhance the interests of the poorer farmers is proving to be far more difficult.

The field study of this paper covers just one region. A further investigation of the impact that the reform dynamics has on the cooperative economy is planned for the near future.

China's approach has favoured experimentation, encouraging initiatives from below and developing a more flexible relationship between government and farmers. This broad bottom‐up approach has allowed for a diversity of models adapted to local conditions, but has also led to uncertainties about the limits of local government influence and the extent of autonomy, with many cooperatives taking an investor‐oriented direction.

The paper adopts a broader social economy perspective that offers a fruitful way to evaluate developments and consider the future for China's cooperative economy.