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1 – 10 of over 13000Juliane Reinecke, Koen van Bommel and Andre Spicer
How is moral legitimacy established in pluralist contexts where multiple moral frameworks co-exist and compete? Situations of moral multiplexity complicate not only whether an…
Abstract
How is moral legitimacy established in pluralist contexts where multiple moral frameworks co-exist and compete? Situations of moral multiplexity complicate not only whether an organization or practice is legitimate but also which criteria should be used to establish moral legitimacy. We argue that moral legitimacy can be thought of as the property of a dynamic dialogical process in which relations between moral schemes are constantly (re-)negotiated through dynamic exchange with audiences. Drawing on Boltanski and Thévenot’s ‘orders of worth’ framework, we propose a process model of how three types of truces may be negotiated: transcendence, compromise, antagonism. While each can create moral legitimacy in pluralistic contexts, legitimacy is not a binary variable but varying in degrees of scope and certainty.
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Julia Brandl and Anna Schneider
How headquarter (HQ) and subsidiary actors end conflicts and reach agreements is an important but still under-researched question in multinational corporations (MNC) literature…
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How headquarter (HQ) and subsidiary actors end conflicts and reach agreements is an important but still under-researched question in multinational corporations (MNC) literature. This conceptual article approaches these conflict dynamics from the Convention Theory perspective. Convention Theory draws attention to justice principles (known as “order of worth”) and to the material aspects in relations between MNC actors. We offer a framework that contributes to HQ-subsidiary relations research in three ways: (1) it links conflicts to justice principles, (2) it enriches the understanding of the stability of agreements, and (3) it sheds light on the activities needed for realizing preferred arrangements.
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Chantale Mailhot and Ann Langley
This article draws on the literature on valuation and evaluation and the orders of worth framework to consider the process of knowledge commercialization from academia to…
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This article draws on the literature on valuation and evaluation and the orders of worth framework to consider the process of knowledge commercialization from academia to practice. Based on the study of two knowledge commercialization projects in a business school, the study contributes by showing how the orders of worth framework may assist in understanding the assignment of worth to knowledge-based objects in the context of multiple and potentially competing systems of valuation. The study also adds to the literature on the orders of worth framework by showing how “composite objects” or “assemblages” that achieve compromise or synergy (i.e., mutual reinforcement) between different value systems may be constructed and potentially sustained.
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I find that median wealth plummeted over the years 2007–2010, and by 2010 was at its lowest level since 1969. The inequality of net worth, after almost two decades of little…
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I find that median wealth plummeted over the years 2007–2010, and by 2010 was at its lowest level since 1969. The inequality of net worth, after almost two decades of little movement, was up sharply from 2007 to 2010. Relative indebtedness continued to expand from 2007 to 2010, particularly for the middle class, though the proximate causes were declining net worth and income rather than an increase in absolute indebtedness. In fact, the average debt of the middle class actually fell in real terms by 25 percent. The sharp fall in median wealth and the rise in inequality in the late 2000s are traceable to the high leverage of middle-class families in 2007 and the high share of homes in their portfolio. The racial and ethnic disparity in wealth holdings, after remaining more or less stable from 1983 to 2007, widened considerably between 2007 and 2010. Hispanics, in particular, got hammered by the Great Recession in terms of net worth and net equity in their homes. Households under age 45 also got pummeled by the Great Recession, as their relative and absolute wealth declined sharply from 2007 to 2010.
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Marcia Annisette, Gillian Vesty and Thierry Amslem
This article will consider the various ways in which accounting can be conceptualized within Boltanski and Thévenot’s economies of worth theoretic. Drawing on two case…
Abstract
This article will consider the various ways in which accounting can be conceptualized within Boltanski and Thévenot’s economies of worth theoretic. Drawing on two case illustrations, a not-for-profit welfare agency and a government-owned water utility, we follow the unfolding of disputes and the variety of outcomes in which accounting is implicated. We illustrate the role of accounting in justificatory actions and the ways in which it “holds things together” in compromise arrangements. We also illustrate the situations which challenge the “test” of worth and the innovative accounting responses that either facilitate coordination and agreement or become controversial and be the object of organizational and institutional dispute.
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Roger Friedland and Diane-Laure Arjaliès
On Justification: Economies of Worth (Boltanski & Thévenot, 1991/2006) was a synthetic and comprehensive parsing of common goods, goods that could and had to be justified in…
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On Justification: Economies of Worth (Boltanski & Thévenot, 1991/2006) was a synthetic and comprehensive parsing of common goods, goods that could and had to be justified in public. In response to Bourdieu’s critical sociology, they rather provided a robust and disciplined sociology of critique, the situated requirements of justification. They refused power and violence as integral to the operability of justification. They emphasized the ways in which conventions of worth afforded coordination, not their constitution of or by domination. They refused to make either capitalism, or the state, into primary motors of social order. Indeed, they refused social sphere, structure, or group as the ground of the good. They emphasized the cognitive capacities of agents. There was no passion, no desire, no bodily affect in these justified worlds. There wasn’t even any account of production of value, of children, or of money. And while they recognized the metaphysical aspect of the good and even used Christianity as a template for one of their cités, they rigorously excluded religion. The theory was designed to analyze moments of controversy, not quiescence or quietude. In his subsequent work, Boltanski aimed to address these absences. In this essay, we examine how Boltanski sought to restore love, violence, religion, production, and institution across five texts: Love and Justice as Competences (1990/2012), The New Spirit of Capitalism, co-authored with Eve Chiapello (1999/2007), The Foetal Condition: A Sociology of Engendering and Abortion (2004/2013), On Critique: A Sociology of Emancipation (2009/2011), and La «Collection», Une Forme Neuve du Capitalisme – La Mise en Valeur Economique du Passé et ses Effets (2014) co-authored with Arnaud Esquerre.
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Kelly L. Markowski and Richard T. Serpe
The purpose of this paper was to empirically integrate the structural and perceptual control programs in the identity theory. This integration involved examining how the…
Abstract
Purpose
The purpose of this paper was to empirically integrate the structural and perceptual control programs in the identity theory. This integration involved examining how the structural concepts of prominence and salience moderate the impact that the perceptual control process of nonverification has role-specific self-esteem.
Methodology/approach
We use survey data from normative and counter-normative conditions in the parent and spouse identities to test a series of structural equation models. In each model, we test the direct impacts of prominence, salience, and nonverification on worth, efficacy, and authenticity. We also test interaction effects between prominence and nonverification as well as salience and nonverification on the three self-esteem outcomes.
Findings
Out of the 24 possible interaction effects, only three were significant. By contrast, the expected positive effects of prominence on worth were supported among all identities, while the expected positive effects of salience on self-esteem were supported only among normative identities. Also as expected, the negative effects of nonverification on self-esteem were supported, though most strongly among counter-normative identities.
Practical Implications
Our findings indicate that the structural and perceptual control concepts have independent effects on self-esteem. Thus, future research should incorporate both programs when examining identity processes on self-esteem. However, depending on the normativity or counter-normativity of the identities of interest, research may find it useful to focus on concepts from one program over the other.
Originality/value of Paper
This paper is a test of integration of the two research paradigms in the identity theory, which addresses the micro–macro problem in a unique way.
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Ronika Chakrabarti and Katy Mason
This chapter draws on the concept of orders of worth to generate understanding into how sustainable, good markets might be enabled at the bottom of the pyramid (BoP). Through an…
Abstract
This chapter draws on the concept of orders of worth to generate understanding into how sustainable, good markets might be enabled at the bottom of the pyramid (BoP). Through an ethnographic study of the efforts of a non-government organisation (NGO) to create spaces where values and value at the BoP are unearthed, articulated, contested and translated into market-making practices. Insights are generated into how interventions to make-markets in sites of extreme poverty become ‘worth the effort’. In keeping with the market studies literature, the authors explore how multiple, contested and reframed needs generate insights into the efforts (and practices) that shape orders of worth in economic life. Orders of worth are the everyday practice of social values that constitute economic value and are framed through the moral values of social worlds as these values are put to work to calculate economic value. This work provides a contribution to the market studies literature through our understanding of the relationship between social and economic values in the creation of orders of worth, by showing how this happens at the BoP. Second, the authors contribute to the BoP literature by showing how places and spaces can be created and used to enable markets to unfold and happen. Finally, the findings contribute to our understanding of the types of practices and market-making devices that interventions might adopt and adapt in order to prod potential actors into action. The chapter identifies three types of enabling practices that make markets possible: connecting, integrating and reclassifying.
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Kirsten Cook, Tao Ma and Yijia (Eddie) Zhao
This study examines how creditor interventions after debt covenant violations affect corporate tax avoidance. Using a regression discontinuity design, we find that creditor…
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This study examines how creditor interventions after debt covenant violations affect corporate tax avoidance. Using a regression discontinuity design, we find that creditor interventions increase borrowers' tax avoidance. This effect is concentrated among firms with weaker shareholder governance before creditor interventions and among those with less bargaining power during subsequent debt renegotiations. Our results indicate that creditors play an active role in shaping corporate tax policy outside of bankruptcy.
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Raquel Meyer Alexander, Andrew Gross, G. Ryan Huston and Vernon J. Richardson
We investigate the interaction of debt covenants and tax accounting on the adoption of Financial Interpretation No. 48 (FIN 48). We examine how firms respond to the potential…
Abstract
We investigate the interaction of debt covenants and tax accounting on the adoption of Financial Interpretation No. 48 (FIN 48). We examine how firms respond to the potential tightening of covenant slack upon FIN 48 adoption and whether these actions are penalized by creditors and anticipated by equity markets. We find that upon FIN 48 adoption, the majority of sample corporate borrowers increase their tax reserves and reduce equity. Firms close to debt covenant violation were even more likely to increase tax reserves upon FIN 48 adoption; however, the size of the adjustment was relatively smaller, suggesting that the FIN 48 standards limited, but did not eliminate, firms use of discretion in reporting uncertain tax positions to avoid costly covenant violations. For firms near net worth debt covenant violation, the act of decreasing equity upon FIN 48 adoption imposes real economic costs, as the average cost of debt increased by 43 basis points. Finally, we extend prior research on the market response to FIN 48 by showing how the market response to FIN 48 adoption is a function of debt covenant slack and tax aggressiveness. Specifically, the cumulative abnormal return at the FIN 48 exposure draft release date is negative only for tax aggressive firms that are close to debt covenant violation.
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