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Why, despite clear economic incentives, did eighteenth-century slave traders fail to defend their business interests against the abolition campaign? We focus on the outport of Bristol as a case in point. Our main argument is that slave traders lacked an organizational basis to translate their economic interests into political influence. Supporting evidence from merchant networks over the 1698–1807 period shows that the Society of Merchant Venturers offered such an organizational site for collective political action. Members of this chartered company controlled much of Bristol’s seaborne commerce and held chief elective offices in the municipal government. However, the Society evolved into an organization that represented the interests of a closed elite. High barriers to entry prevented the slave traders from using the Society as a vehicle for political mobilization. Social cohesion among slave traders outside the chartered company hinged on centrally positioned brokers. Yet the broker positions were held by the few merchants who became members of the Society, and who eventually ceased their engagement in slave trading. The result was a fragmented network that undermined the slave traders’ concerted efforts to mobilize against the political pressure of the abolitionist movement.

Omnichannel has become increasingly important with the development of e-commerce. In omnichannel, merchants expect customers to get the products and services at anytime, anywhere and in any way, and the same is true for customers. This drives multihoming in online platforms for both merchants and customers. Thus, once both customers and merchants are multihomed, what price and subsidy decisions should be made between platforms to compete to obtain optimal profits? The main purpose of this paper is to solve these problems and provide decision-making for two-sided platforms in omnichannel.

This study builds a dual Hotelling model to capture the utility and network effects of customers and merchants on two-sided platforms. This study introduces the exposure effect and convenience effect of multihomed customers and merchants in the model and analyzes the impact of these effects in the market with multihoming on one side. Then, this study extends the model to the market with multihoming on both sides and makes the pricing decision for two-sided platform when considering the exposure effect and convenience effect through an equilibrium solution. Finally, this study also uses numerical analysis to simulate the decision and profit of the platform.

This paper finds that the convenience effect will only increase social welfare when customers are single-homed and merchants are multihomed. In addition, when both users are multihomed, the platform will subsidize to attract merchants and customers if the convenience effect and exposure effect are relatively high. This study also finds that network effects come not only from the same platform but also from another platform in the case with multihoming on both sides. And network effects in the heterogeneous platform will be reduced by the convenience effect and exposure effect.

According to the behavioral characteristics of merchants and customers in omnichannel, this paper first adopts the dual Hotelling model to study the pricing of two-sided platforms with multihoming on both sides. This paper shows that network effects originate not only from the same platform but also from another platform and that the exposure effect and the convenience effect can exist as cross-platform network effects, which provides a new explanation for network effects in markets with multihoming on both sides. This research extends the theory of network effects and plays an important role in the development of two-sided platforms in omnichannel.

The purpose of this paper is to explore the reasons behind the slow adoption of mobile payment services. The expectations of the main groups of stakeholders – the mobile service providers, the retailers, and the consumers – of the service in the retail industry in Sweden are examined.

The authors use a qualitative case study of stakeholders’ expectations. The conceptual research framework is based on the theory of diffusion of innovations, the technology adoption model, and network externalities. The proposed framework was tested and validated by empirical findings.

One of the key findings of the research highlights that acceptance of a mobile payment service depends on the ability of mobile payment providers to build networks of both retailers and consumers simultaneously. The service will attract these stakeholders if it meets their expectations in the best possible way. Another finding is that mobile payment services do not meet expectations on an enhanced purchasing process. This is the area for future service improvement.

The main limitation of this study is that only a few retailers were contacted.

First of all, criteria from the developed research framework can be used as a guide for mobile payment service development. Second, when developing and providing a mobile payment service, mobile payment providers need to have a good understanding of the needs and expectations of retailers and consumers.

Stakeholders’ expectations have not been a focus for research in previous studies. This is a new research object.

Purpose – This paper focuses on a unique historical case study of industry evolution in order to develop a road map where historical and strategic research could develop a common ground for trans-disciplinary inquiry.

Design/methodology/approach – The industry I explore is the Universal Credit Card Industry since its inception with the Diners Club in 1949 until its maturity in late 1990s. My empirical objective here is to develop a historically detailed and theoretically rich case study in which evolutionary processes are discovered as a result of the historical narrative.

Findings – The historical account of the industry demonstrates how the evolution of alternative business models as organizing forms has led to the establishment of interorganizational platforms with unique ecosystems. These alternative business models, through various experimentations, have ultimately produced two critical interorganizational organizations, one based on an open-loop system represented by Visa and MasterCard, and the other based on a closed-loop system represented by Diners Club and the American Express. The historical account also shows that in a given industry competition is not only among specific firms in the industry but also among the business models and the platforms created by these models.

Originality/value – I conclude that historical analyses reveal the nature of competition not only among firms but also among alternative business models where traditional strategy research rarely covers.

Cardagin, a new start-up in the increasingly competitive space of consumer/merchant apps for smartphones, is reaching an inflection point: decisions it makes at this stage can determine whether it becomes a national presence or an also-ran. The CEO needs to demonstrate the value of Cardagin's service to retailers and consumers in compelling ways. The case provides students an opportunity to analyze a new digital venture, explore expansion options, and evaluate the challenges in working with many small businesses, each with its own idiosyncrasies.

The article is based on both secondary and primary research into the use of plastic payment cards in China. The secondary research offers an understanding of the history and current situation of payment cards in China, whilst the primary research provides insights into the uniqueness of the Chinese market from the perspective of card holders, card issuers and merchant acceptors. As barriers to entry into China remain high for foreign banks, particularly if they wish to pursue a branch centric approach to distribution, the article also draws attention to the advantages of a card centric approach to market entry. Other Asia‐Pacific markets such as Australia, Hong Kong, Korea and Japan have already embraced the plastic card as a means of payment at the point‐of‐sale. As a market, China has more potential than any other country in Asia‐Pacific, but more knowledge is required concerning the evolution to date of payment cards in China and the impediments that foreign entrants will face.

The objective of this essay is to assist secondary school world history teachers in helping students develop an understanding basic economic concepts through learning about two successful pre-industrialized economies: The Florentine Republic and Tokugawa Japan. We includes a short introduction about the importance of integrating economic concepts in history instruction; narratives suitable for teachers and many high school students on the economies of the Republic of Florence and Tokugawa Japan; and an annotated list of pedagogical resources suitable for more extensive study of both societies.

This study aims to investigate the entrance of Chinese-based Alipay’s mobile-payment (m-payment) technology into Malaysia. Malaysia allowed this entry of the first foreign m-payment company because it would allow Chinese tourists spending while they are visiting Malaysia. It will view this entrance from a Malaysian perspective.

The views of Malaysian players (Bank Negara Malaysia officers, three Malaysian banks’ officers, Alipay-Malaysia officers, airport section manager, convenience store manager and airport store sales executive) were sought via qualitative interview concerning Alipay’s entry into the Malaysian market. Respondents who had relevant knowledge and/or were involved in Alipay m-payment technology development in Malaysia were contacted, while there remainder were obtained by snowballing. Secondary data was collected from Bank Negara Malaysia’s policy, three Malaysian banks’ reports, the Alipay-Malaysia public statements and the Airport and Convenience Store reports. Triangulation using primary and secondary data was used to safeguard the validity and reliability of the outcomes.

The entry strategy used by Alipay was different from those reported in previous studies. The establishment of Alipay-Malaysia was the first element of the “mode of entry” gaining pioneer status in Malaysia. The next stage was gaining support from Bank Negara Malaysia-Malaysian Central Bank and three Malaysian banks (Maybank, Public Bank and CIMB) through collaborative ventures with Alipay-Malaysia Sdn. Bhd., leading to acceptance nationwide by local merchants. The key driver of acceptance being Chinese outbound tourists in Malaysia.

This case study was conducted during the early implementation of Alipay in Malaysia from 2015 until April 2019. During this period, there were challenges due to the lack of primary data. These were overcome by the support from the respondents and the secondary data.

This study contributes to insights from a different entry strategy that used tourism as a leading force. This can give guidance to other m-payment service providers or other countries as m-payment technology recipient about “market entry strategy” and “modes of entry” following Alipay’s approach.

To date, no study has been conducted to investigate the nature of Alipay m-payment in Malaysia. This qualitative study has examined the new phenomenon regarding how Alipay entered the Malaysian market. Moreover, this study can also contribute new insights into the existing theory of “market entry strategy” in terms of Alipay’s tourist-based approach.

This chapter contributes to the study of social capital in international business from a perspective of diaspora networks. Previously secure within the domains of academic fields of history and sociology, diaspora is now an essential concept across business disciplines influencing economic development policy. Diaspora networks are argued to be the first movers carrying a promise of robust entrepreneurial activity, potentially transferring unique skills and knowledge by way of formal and informal engagements with their ancestral lands. Stitching global value chains into the development structures of weaker economies, diaspora networks are hypothesized to be strengthening homeland's competitive advantage and macroeconomic resilience. With much enthusiasm for the strong potential of diaspora networks, this study calls for a realistic caution and against mechanistic interpretation of the phenomenon. Three key elements formulate a diaspora network operational sustainability requiring deeper reflection in the business literature: identity, trust, and engagement infrastructure. Such triangularity of diaspora networks is in parallel with the three dimensions of social capital: bonds, bridges, and linkages. Connecting with the literature and informed by a unique survey, this contribution also sketches an analytical framework for future research and meaningful policy approach.

The purpose of this paper is to investigate the impact that several of these factors have on a consumer’s decision to hold a credit card, as well as those involved in determining the level of credit card limit.

Potential explanatory variables were identified in the literature, then used to build a binary logit model to test the impact of the card and consumer characteristics on credit card ownership. Data were collected via a structured interview of 409 consumers living in Hebei Province, China.

The results indicate that convenience in use, level of credit card interest rates, the application process, number of people in the household, a rewards programme, marital status, credit limit and age influence the likelihood of the respondent holding a credit card. Further, an anaylsis shows that the number of credit cards held, duration of holding a credit card, monthly credit card purchasing volume and having a degree at the tertiary level, are significantly and positively related to different levels of credit limit.

In summary, in order to attract more consumers to credit card use, the banks and credit card companies should consider making it more convenient for consumers to use their credit cards. Moreover, banks can increase their networking and degree of cooperation with merchants to increase the acceptance of payment by credit card. The most heavily used businesses such as supermarkets and smaller retailers, where consumers purchase goods frequently, would be good targets for banks’ attention. In addition, banks might also improve credit card reward programmes to make these more efficient and perhaps increase the size of the rewards customers can earn through card use.