In this article, we demonstrate the relevance of eye-tracking experiments in social and environmental accounting (SEA) research. Up to now, this type of design has been used in some areas within accounting research, but SEA has been neglected. If one is to adopt a user perspective [Merkl-Davies, D. M., and N. M. Brennan. 2007. “Discretionary Disclosure Strategies in Corporate Narratives: Incremental Information or Impression Management?” Journal of Accounting Literature 27: 116–196; 2011. “A Conceptual Framework of Impression Management: New Insights from Psychology, Sociology and Critical Perspectives.” Accounting and Business Research 41 (5): 415–437], the investigation and the understanding of the way social and environmental information affects user perceptions and decisions requires, among other tools, the use of eye-tracking setups. We discuss the need for eye-tracking experiments in SEA research and provide some preliminary evidence on their usefulness by conducting an illustrative experiment.
This study examines how hospitality students perceive ethics, corporate social responsibility (CSR), and sustainability (ECSRS) with regard to their current academic program and future career. Previous literature has shown an evolution in higher education institutions to implement ECSRS topics into their curriculum. This quantitative study measured 202 first-year students’ levels of interest, perceived importance, and potential implementation of ECSRS in a hospitality management program. Based on student responses, there is a high expectation that courses on ECSRS will be taught during their academic program to better prepare them for their future ambitions and the future of the planet.
Risk-based investing is experiencing growing success among investors, although some critics contend that the implicit “no-views” characteristic of these solutions might trigger other forms of risk, such as valuation risk. In this article, the authors introduce an analytical framework that allows investors to add active views on top of a risk-based solution, bridging the gap between risk-based investing and mean-variance portfolio optimization. Starting from a Black-Litterman approach, the authors derive closed-form expressions for the active risk-based portfolio weights and discuss practical implementation aspects. The framework is illustrated with a multi-asset allocation exercise over the period 1974–2016. Using views generated from macroeconomic regime signals, the active risk-based strategy is shown to outperform empirically both passive risk-based strategies and popular methodologies such as Equal-weight or Maximum Sharpe ratio.
Geographic communities are often thought to support new ventures, particularly when newcomers are able to replicate incumbents’ characteristics. This paper elaborates on the conditions under which geographic communities may hinder the action of newcomers. Particular attention is dedicated to the case in which incumbents’ identities build on community traditions and rely on strong connectedness with community inhabitants, as these factors are difficult for newcomers to replicate. We explore this question within the context of market entries in the Franconian microbrewery industry. The results of our empirical analysis confirm that geographic communities exert an unfavorable effect on the entry of new organizations when incumbents are deeply attached to the community. Conversely, when incumbents relate poorly to the community, residential stability within the community displays a positive effect on founding.
Strategic renewal has become a prominent theme in a variety of organization and management research domains in recent years. It refers to the process that allows organizations to alter their path dependence by transforming their strategic intent and capabilities. With contributions from an increasing range of theoretical perspectives and research contexts, the strategic renewal literature has become fragmented and lacks common definitions and conceptual clarity, which prevent cross-fertilization and harm further development. This study systematically reviews the various literature streams on strategic renewal to provide a more integrative perspective. The authors identify three key theoretical tensions at the heart of strategic renewal research, namely learning vs. resource, induced vs. autonomous, and co-alignment vs. co-creation. By exploring these key tensions, the authors define strategic renewal's conceptual core, identify gaps in the past literature, and provide guidance for future research.
We take an exploration-exploitation perspective on international diversification. Specifically, we suggest that, since changes in international diversification are typically related to exploration or exploitation-related motives (e.g., exploring new knowledge or exploiting existing knowledge) and since both motives show self-reinforcing effects, international diversification increasingly unbalances firms’ exploration-exploitation orientation. This is unfortunate given that a balance among the two is associated with superior performance and, as we argue, these performance effects are even stronger the higher the degree of international diversification. Put together, we introduce a novel paradox: While international diversification benefits from intermediate levels of exploration and exploitation, it increasingly unbalances firms’ orientation among the two. We find support for our arguments in a global sample of insurance firms over a period of nine years (1999-2007).
Collaborative consumption based on the sharing economy concept is no doubt becoming critical to the way people travel. Airbnb is a notable case to exhibit how online (P2P) platforms have helped individuals to rent out their extra living spaces to people from around the world. This study tried to understand the impact of the destinations’ characteristics on the price determinants of Airbnb and to find how the effects of the pricing factors vary according to the destinations’ characteristics using a hedonic pricing model. Two cities in the U.S. (i.e., New York and Miami) were selected to compare the effects of a destination’s characteristics on the Airbnb host’s pricing policy. Host reputation partially affect room rates in general, while transaction characteristics show relatively lower effects on prices. This study found several common factors affecting the price of Airbnb listings but also found unique factors for each destination.
