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The purpose of this paper is to answer the following research question: how can intermediaries contribute to social impact creation through their interventions at different levels of distribution networks in the base of the pyramid (BoP) markets?

The paper adopts an embedded case study of an intermediary organization. The analysis focuses on the intervention of the intermediary on the distribution stages of supply chains in four different projects in the food sector in Ethiopia, Benin, Nigeria and Bangladesh.

The embedded case study reveals essential formal and informal roles undertaken by the intermediary organization to develop decentralized distribution networks based on local micro-entrepreneurs. The study proposes that efforts undertaken by the intermediaries toward knowledge sharing and capacity building among partners can enable the adoption of pro-poor strategies across the supply chain. Moreover, hybrid intermediaries can act as “guardians” of the mutual value creation approach since one of their key roles is to advocate the needs of the BoP.

Important implications for improving nutrition and food security in the BoP markets are developed based on the empirical findings. The findings open avenues for further research into the antecedents of retention rates in distribution networks based on local micro-entrepreneurs.

Findings have implications for different types of BoP initiatives by highlighting how intermediary organizations intervene to develop distribution models with a special focus on social impact.

This paper fills an important research gap by discussing social impact aspects in BoP supply chains by adopting the perspective of intermediary organizations.

The purpose of this paper is to discuss findings from an Arts and Humanities Research Council (AHRC)-funded research project into the heritage culture of British folk tales. The project investigated how such archival source material might be made relevant to contemporary audience via processes of artistic remediation. The research considered artists as “cultural intermediaries”, i.e. as actors occupying the conceptual space between production and consumption in an artistic process.

Interview data is drawn from a range of 1‐2‐1 and group interviews with the artists. These interviews took place throughout the duration of the project.

When artists are engaged in a process of remediation which has a distinct arts marketing/audience development focus, they begin to intermediate between themselves and the audience/consumer. Artist perceptions of their role as “professionals of qualification” is determined by the subjective disposition required by the market context in operation at the time (in the case of this project, as commissioned artists working to a brief). Artists’ ability (and indeed willingness) to engage in this process is to a great extent proscribed by their “sense-of-self-as-artist” and an engagement with Romantic ideas of artistic autonomy.

A consideration of the relationship between cultural intermediation and both cultural policy and arts marketing. The artist-as-intermediary role, undertaking creative processes to mediate how goods are perceived by others, enables value-adding processes to be undertaken at the point of remediation, rather than at the stage of intermediation.

The aim of this paper is to examine the effect of information disclosure by unlisted bond issuers on the stock price informativeness of listed firms in the same industry.

This paper takes advantage of information disclosure during the bond issuance and examines the spillover effect of unlisted bond issuers' information disclosure on listed firms in the stock market. The sample is composed of A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2007 to 2018. All the data are obtained from the China Stock Market and Accounting Research and WIND databases. The impact of bond market information disclosure on price informativeness of listed firms in the same industry is identified through multivariate regression analyses.

Empirical results show that price informativeness of listed firms has a significantly positive association with the information disclosure of same-industry unlisted bond issuers. Further analyses show that the above finding is more significant when information disclosure of bond issuers is a more important channel for acquiring industry information (i.e. when industry is more concentrated, when economic uncertainty is high, and when industry information is less transparent) and understanding the industry competitive landscape (i.e. when bond issuers are relatively large, when bond issuers and listed firms have more direct product competition, when bond issuance firms are large-scale state-owned business groups), and when there are more cross-market information intermediaries (i.e. more cross-market institutional investors and more sell-side analysts). This paper indicates that information disclosure of bond issuers has a positive spillover effect on the stock market.

The novelty of the research is that the authors examine industry information spillover from unlisted firms to listed firms leveraging on unlisted firms' information disclosure in bond markets.

This study aims to explore how sustainable business models (SBM) can be developed within agri-innovation systems (AIS) and emphasize an integration of the two with a systemic understanding for reducing food loss and value loss in postharvest agri-food supply chain.

This study conducted longitudinal qualitative research in a developing country with food loss challenges in the postharvest supply chain. This study collected data through multiple rounds of fieldwork, interviews and focus groups over four years. Thematic analysis and “sensemaking” were used for inductive data analysis to generate rich contextual knowledge by drawing upon the lived realities of the agri-food supply chain actors.

First, this study finds that the value losses are varied in the supply chain, encompassing production value, intrinsic value, extrinsic value, market value, institutional value and future food value. This happens through two cumulative effects including multiplier losses, where losses in one model cascade into others, amplifying their impact and stacking losses, where the absence of data stacks or infrastructure pools hampers the realisation of food value. Thereafter, this study proposes four strategies for moving from the loss-incurring current business model to a networked SBM for mitigating losses. This emphasises the need to redefine ownership as stewardship, enable formal and informal beneficiary identification, strengthen value addition and build capacities for empowering communities to benefit from networked SBM with AIS initiatives. Finally, this study puts forth ten propositions for future research in aligning AIS with networked SBM.

This study contributes to understanding the interplay between AIS and SBM; emphasising the integration of the two to effectively address food loss challenges in the early stages of agri-food supply chains. The identified strategies and research propositions provide implications for researchers and practitioners seeking to accelerate sustainable practices for reducing food loss and waste in agri-food supply chains.

The purpose of this paper is to reveal the paradox between diversification and specialization from a dynamic perspective. More precisely, this paper will analyze the impact of diversification and specialization as well as their interaction on regional innovation in different development stages.

Based on the principles of new economic geography and innovation geography, data from 30 provinces from 2001 to 2017 was used to explore the relationship. Least squares regressions with fix effect were used to examine the hypotheses.

The results show that both diversification and specialization have a significant and positive impact on regional innovation. The interaction of diversification and specialization also significantly and positively impacts regional innovation. The effect of industrial agglomeration is heterogeneity under different development stages.

This paper verifies the positive role of diversification and specialization and their interaction in promoting regional innovation. The impact of industrial agglomeration on innovation is dynamic and changes with the regional development process. Emerging economies should make appropriate industrial agglomeration strategies according to their development stages.

This paper introduces diversification, specialization and their interaction into the research framework at the same time to analyze their impact on innovation performance which deepened the research of industrial agglomeration. Taking China as an example, this paper also examines the impact of industrial agglomeration on regional innovation in different development stages that expands the dynamic perspective of industrial agglomeration.

This study aims to analyze the imbalances in the public finance structure of Pakistan’s economy and highlight the need for comprehensive reforms. Specifically, it aims to contribute to the empirical literature by analyzing the relationship between fiscal vulnerability, financial stress and macroeconomic policies in Pakistan’s economy between 1971 and 2020.

The study develops an index of fiscal vulnerability, an index of financial stress and an index of macroeconomic policies. The fiscal vulnerability index is based on the patterns of fiscal indicators resulting from past trends of the selected variables in Pakistan’s economy. The financial stress in Pakistan is caused from the financial disorders that are acknowledged in the composite index, which is based on variables with the potential to indicate periods of stress stemming from the foreign exchange market, the securities market and the monetary policy components. The macroeconomic policies index is developed to analyze the mechanism through which fiscal vulnerability and financial stress have influenced macroeconomic policies in Pakistan. The causal association between fiscal vulnerability, financial stress and macroeconomic policies is analyzed using the auto-regressive distributive lags approach.

There exists a long-run relationship between the three indices, and a bi-directional causality between fiscal vulnerability and macroeconomic policies.

This study contributes to the development of a fiscal monitoring mechanism, which has the basic purpose of analyzing the refinancing risk of public liabilities. Moreover, it focuses on fiscal vulnerability from a macroeconomic perspective. The study tries to develop a framework to assess fiscal vulnerability in light of “The Risk Octagon” theory, which focuses on three risk components: fiscal variables, macroeconomic-disruption-associated shocks and non-fiscal country-specific variables. The initial contribution of this work to the literature is to develop a framework (a fiscal vulnerability index, financial stress index and macroeconomic policies index) for effective and result-oriented macro-fiscal surveillance. Moreover, empirical literature emphasized and advised developing countries to develop their own capacity mechanisms to assess their fiscal vulnerability in light of the IMF guidelines regarding vulnerability assessments. This study thus attempts to fulfill the said gap identified in literature.

The purpose of this paper is to assess the financial performance of the intermediary institutions that have operated in the Turkish capital markets taking the issue of bank-origin and non-bank-origin institutions into account.

Financial performance of the intermediary institutions has been measured by the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method between the years 2005 and 2016. In order to implement the TOPSIS method, the relative importance of financial performance indicators has been determined by Entropy, survey results and considering equal weights approaches.

Empirical findings indicate that the average performances of continuously operating intermediary institutions during the concerned period are above the average performance levels of all intermediaries. Additionally, the average rank of bank-origin intermediary institutions have been found higher than the non-bank origins for all years. This reveals that the average financial performance of the bank-origin intermediary institutions is higher than the average score of non-bank origins during the related years.

This study is unique in terms of evaluating the performance of intermediary institutions in Turkish capital markets with a comprehensive framework. Determining the relative importance of financial performance indicators according to entropy, survey results and equal-weight approaches and revealing the average financial performance ranking methodology for bank-origin and non-bank-origin intermediary institutions have added value.

Cultural intermediaries define the standards many consumers use when evaluating cultural products. Yet, little research has focused on whether cultural intermediaries may systematically differ from each other with regard to the standards they emphasize. The purpose of this paper is to build on Bourdieu’s theory of cultural production to examine how the type of subfield reviewed and/or the cultural intermediary’s expertise (or “field-specific cultural capital”) affect the standards an intermediary uses.

This paper employed a computer-aided content analysis of the full corpus of “Rolling Stone” music album reviews (1967-2014).

Critics with lower field-specific cultural capital reflect the same logic as the subfield they are critiquing. Critics with higher field-specific cultural capital reflect the opposite logic.

Bourdieu was ambivalent about whether cultural intermediaries will reflect the logic of a subfield. Results show that the answer depends on the intermediary’s field-specific cultural capital. The results also reinforce previous findings that individuals with high field-specific cultural capital are more likely to break with the logic of a field.

Not all intermediaries are created equal. Producers and consumers who rely on cultural intermediaries should understand the intermediary’s critical analysis within the context of his/her experience.

This is one of the first studies to examine how a cultural intermediary’s field-specific cultural capital impacts his or her work. The findings are based on a large review sample and include reviewers’ analyses as they developed from having lower to higher field-specific cultural capital.

Intermediate short food supply chains (SFSC) have been presented as a possible solution to unsustainable global food supply chains. There is currently a knowledge gap about intermediate SFSC. Thus, this review synthesizes the available literature to identify prominent themes and their main considerations.

This research is based on a systematic literature review including peer-reviewed journal articles until December 2021. Inductive data coding resulted in the identification of four themes related to intermediate SFSC.

The identified themes illustrate the complex landscape intermediate SFSCs operate in and focus on the key relationships within these supply chains. The established relationships have implications for the governance of intermediate SFSCs. The organization of intermediate SFSCs affects numerous sustainability indicators.

Future research should focus on the position intermediate SFSCs have in food systems and the roles intermediaries have in intermediate SFSCs. There is furthermore an opportunity for researchers to investigate different types of intermediaries and explore the factors influencing them.

Creating sustainable food supply chains is one of the major societal challenges of today. The current state of the art suggests that intermediate SFSCs could play an important role in achieving this. So far, this area is underdeveloped and this review highlights knowledge gaps in the literature and suggestions for a future research agenda are proposed.

The purpose of this paper is to analyze the process of supermarketization in the vegetable retail sector in China and its impact on food safety.

Data from food safety reports by the Chinese Food and Drug Administration (CFDA) are used to investigate the degree of vegetable safety in different value chain types. To assess the predictors of the degree of vegetable safety, a logistic regression model is applied.

Supermarketization has led to the reorganization of the vegetables provision system, through closer coordination along the supply chain and the use of secured production bases. We identify four types of vegetable value chains in China based on their form of coordination. Supermarkets improve vegetable safety even when they rely on external suppliers, but also wet markets perform significantly better than other small-scale retailers in terms of vegetable safety.

The study has expanded the knowledge of the supermarketization in urban China by collecting data from CFDA. Furthermore, the study used the theory of food value chain to understand determinant factors in securing food safety. Moreover, this study reveals that wet markets also have prospects in solving vegetable safety problems in China, especially in underdeveloped areas.