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This paper aims to investigate how the US stock market deals with the announcement of a strategic Chapter 11, a special type of corporate bankruptcy in which companies seek the protection of the law not as a last resort but as a planned business decision.

An event study is conducted by using data concerning a group of US publicly traded companies that entered Chapter 11 for both strategic and nonstrategic reasons. Regression analysis is also used for robustness purposes.

This study reveals that initiating both strategic and nonstrategic Chapter 11 proceedings results in negative and statistically significant abnormal stock returns before and at the bankruptcy announcement date. However, in the period following the filing, the market gradually views strategic bankruptcy cases as positive news, whereas nonstrategic Chapter 11 filings continue to be perceived as distinctly negative.

To the best of the author’s knowledge, this is the first paper that documents an asymmetric market reaction to the announcement of Chapter 11, suggesting that, in certain circumstances, managers can add value by filing a strategic bankruptcy.

Status characteristics theory states that influence in small groups reflects the distribution of group members' status characteristics. This process is mediated by expectations for task performance. Vocal accommodation is an unobtrusive measure that indicates expectations. We test whether vocal accommodation predicts influence and then examine the role of expectations in this process.

We conducted a laboratory experiment in which status-differ-entiated dyads completed a collective problem-solving task. We use a common measure of vocal accommodation to predict influence, and we employ questionnaire data to measure performance expectations. We hypothesize that the actor that exerts more effort in the synchronization process will have less influence over group decisions and that performance expectations will mediate the effect.

Results from GSEM analyses of 65 dyads show that levels of vocal accommodation significantly predict influence. Further analysis shows that performance expectations mediate a significant portion of the relationship between AAR and influence.

Vocal accommodation is useful for predicting both status perceptions and influence. Since this technique is an unobtrusive measure, it presents new possibilities for status research, including opening new lines of theoretical inquiry, providing a tool for conducting replications outside of the standard experimental setting, and for examining status organizing processes in a variety of environments.

We present a novel method for examining status outcomes, including a measure of influence that is analogous to existing measures that status scholars use but which is more suitable for studying status processes in open interaction.

Following calls at different times in the United States for the definition of the body of knowledge (BOK) of real estate discipline, this briefing sets out to define the intellectual boundaries of real estate and applies the definitional concept to map out the scopes of real estate professions and real estate valuation vocation

The study essentially uses a literature review to draw out definitional issues that have been tackled before. It reviews calls that have been made in the past for a definition of the BOK of the real estate discipline. Further, it reviews past attempts at definition to reveal why they failed at the definition project.

The study found three key suggestions made in the past: that there is a need to define real estate’s BOK, that there is a need to use a “central structure” to define the BOK of real estate, and that definition of the BOK of real estate should rely on the activity nodes that constitute real estate. The study has relied on these three key ideas to define real estate as the science of value creation, distribution and sustenance in built space.

The definition of the BOK will help in curriculum development for real estate education. It will help faculties and departments to single out what fits into the real estate curriculum and what does not fit in.

A definition of the BOK for real estate: reconceptualizing the discipline and delineating jurisdictional boundaries of its practice.

The paper draws extensively from Aristotle’s Poetics, a classical work on the aesthetics of drama. Drawing from symbolic and thematic elements from folklore and mythology, this paper aims to illustrate how the Poetics can be referenced as an allegorical device in the design of culture-building strategies and interventions.

This exploratory paper examines Aristotle’s “Poetics” and the range of creative expression this literature provides as a conceptual design framework for the development of a culture map in creating a distinctive organisational mythology. The Poetics articulates an Aristotelian perspective on theatre which infuses itself as a new language in offering structural and archetypical plot devices in the development of an organisational narrative.

Findings from this explorative study can provide a creative roadmap to culture practitioners and leaders, to be used as a determining reference point in developing culture maps and change management interventions.

Poetics has its detractors, notably Bertolt Brecht and Augusto Boal. Boal examines how Poetics promotes a narrative that suppresses free thinking and encourages a cult of feudal personality, therefore encouraging industrial and cultural oppression, which he rebelled against through the development of his “Theatre of the Oppressed”. This new kind of theatre discarded the Aristotelian model of thinking. Ideas proposed in the Poetics may also lend verisimilitude to the propagation of obsessive consumerism through the definitive symbolism it offers in the development of institutionalised personality cults.

The Poetics as a creatively driven reflexive study provides a forward movement in the study of culture design templates. Its definitive allegorical devices and metaphors act as action principles through which an enterprise culture and its value system can be examined and developed.

This paper aims to explain the occurrence of sustainable entrepreneurship in the underresearched sub-Saharan Africa context and to improve the understanding of how effectuation manifests in this context.

This study uses a qualitative research approach based on multiple case studies. Responses were sourced from owners, employees, suppliers, the community and customers of sustainable entrepreneurial firms. Data collection methods included in-depth interviews, document reviews and observations. The Gioia analytical approach was used.

Overall, the authors find the concept of effectuation to be well-suited to capturing the processes through which individuals with limited means seek to engage in sustainable entrepreneurship. The authors also identify three pervasive practices that are key to understanding effectuation in the developing country context: complementation of indigenous knowledge with modern science, compassion and pluriactivity.

This study underscores the importance of co-creation, diversification of revenue sources and the role of emotional awareness and interpersonal skills in entrepreneurial endeavors.

This study, therefore, contributes new knowledge about the mechanisms through which entrepreneurs faced with resource constraints use control as opposed to prediction strategies to exploit sustainable entrepreneurship opportunities. In so doing, this study contributes to entrepreneurship theory by proposing the integration of cognitive and affective dimensions in realizing sustainable entrepreneurship goals.

This paper aims to examine the relationships between motives, skepticism and brands evaluations in the LGBT-friendly branding hotels context.

An online survey is created and 278 LGBT participants are recruited through a consumer panels firm. The research model is tested through structural equation modeling.

Values-, stakeholder- and strategic-driven motives are negatively related to skepticism, while egoistic-driven motive is positively related to skepticism. Also, sexual orientation openness moderates the relationship between stakeholder-driven motives and skepticism. Finally, skepticism is negatively related to brands evaluations.

The research findings are limited to the LGBT-friendly hotels. However, this research contributes to the CSR and LGBT consumer research by examining the relationships between the four motives and skepticism considering LGBT customers’ sexual orientation openness level.

Hotels should devote greater efforts to communicating that their LGBT-friendly branding efforts are genuine by acknowledging both the social benefits and the business interests.

As more and more hotels promote themselves as LGBT-friendly brands, a key challenge is reducing skepticism by appropriately conveying their motives. This research sheds light on this critical issue.

Although existent research on LGBT-friendliness has established its importance; there is a lack of understanding as to how customers perceive LGBT-friendly branding hotels. This research examines the four motives of hotels presenting themselves as being LGBT-friendly and their relationships to skepticism.

Crowdfunding is an increasingly popular channel for project fundraising for entrepreneurial ventures. Such efforts require fundraisers to develop and manage a crowdfunding campaign over a period of time and several stages. Thus, the authors aim to identify the stages fundraisers go through in their crowdfunding campaign process and how their engagement evolves throughout this process.

Following a multiple case study research design analysing six successful campaigns, the current study suggests a taxonomy of stages the fundraisers go through in their crowdfunding campaign management process while identifying the types of engagement displayed and their relative intensity at each of these stages.

The study proposes a five-stage process framework (pre-launch, launch, mid-campaign, conclusion and post-campaign), accompanied by a series of propositions outlining the relative intensity of different types of engagement throughout this process. The authors show that engagement levels appear with high intensity at pre-launch, and to a lesser degree also at the post-launch stage while showing low intensity at the stages in between them. More specifically, cognitive and behavioural engagement are most prominent at the pre- and post-launch stages. Emotional engagement is highest during the launch, mid-launch and conclusion stages. And social engagement maintains moderate levels of intensity throughout the process.

This study focuses on the campaign process using engagement theory, thus identifying the differing engagement patterns throughout the dynamic crowdfunding campaign management process, not just in one part.

The purpose of this study is to determine if regional proximity and fan club involvement could be used to predict success for brands that jointly sponsor a team and their key rival.

A brand with regional proximity to the rival teams it sponsored was identified. Fan club members of a major college sports team served as respondents. Structural equation modeling was used to test a model that predicted antecedents to purchase intentions and positive word-of-mouth based on individual fan characteristics.

Results suggest that the intrinsic and social components of fanship as well as regional proximity facilitate the success of brands jointly sponsoring rivals. The intrinsic dimension of fandom foreshadowed approval of the joint sponsorship investigated but did not directly enhance the sponsor’s brand equity. Instead, it was demonstrated that fans must first approve of the joint sponsorship arrangement before conferring elevated brand equity onto the sponsor. Increased social interaction with the fan club resulted in higher levels of purchase intentions and positive word-of-mouth of the joint sponsor.

This study differs from prior studies investigating joint sponsors in four ways. First, the intrinsic and social dimensions of fanship were measured within the context of a fan community. Second, the context of the study included a sponsor with regional proximity to both rival teams. Third, it was determined that the proclivity for social interaction within a fan community enhances the positive outcomes for joint sponsors. Fourth, unlike previous research studying joint sponsors, this study demonstrates a path to success for these brands.