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The purpose of this paper is to analyze the US Supreme Court's March 30, 2010 decision in Jones v. Harris Associates, LP concerning the evaluation of investment advisory fees under Section 36(b) of the Investment Company Act of 1940.

The paper lays out the background of Section 36(b), the Second Circuit's 1982 decision in Gartenberg v. Merrill Lynch, and the plaintiff's allegation in the Jones case; discusses differences of opinion among the circuit courts on the fiduciary duty standard in Section 36(b); and explains the Supreme Court's reaffirmation of the Gartenberg standard, including a review of Section 36(b) on advisers' fiduciary duty, the role of comparative fees in the Section 36(b) calculus, the role of independent directors, and the dangers associated with judicial review of a board's decision regarding advisory fees.

The Court concluded its opinion by once more endorsing the principles articulated in Gartenberg.

The paper provides practical guidance from experienced securities lawyers.

This study disentangles the impact of consumers’ adoption of mini-program channels on social media on their purchase behavior in e-marketplaces from a multichannel retailer’s perspective and examines the moderating roles of two types of brand messages (informational and transformational messages).

Based on 2,204 transaction records from a Chinese multichannel retailer, this study used a Poisson regression model with fixed effects for empirical testing. The case of the WeChat mini-program in China was employed.

Adopting mini-program channels on social media reduces consumers’ purchase frequency but increases their purchase breadth in e-marketplaces. Moreover, informational messages worsen the negative effect of mini-program channel use on purchase frequency. In contrast, transformational messages reduce the negative effect of mini-program channel use on purchase frequency and amplify its positive effect on purchase breadth.

Managers can effectively leverage mini-programs to widen the range of consumers’ product purchases in e-marketplaces and the intensity of transformation messages posted within mini-programs to alleviate their negative impact on purchase frequency in e-marketplaces.

Previous studies only focus on the intrachannel impact of mini-program channels; however, this study highlights their cross-channel impact. Its findings underscore the dual role of mini-program channel use in e-marketplaces. Additionally, the nuanced moderating effects of informational and transformational messages enrich our understanding of mini-program channels on social media. Moreover, a substitution framework is utilized to understand the cross-channel effects generated by mini-program channels, demonstrating the applicability and generalizability of the framework in a new context.

The long controversy that has waxed furiously around the implementation of the EEC Directives on the inspection of poultry meat and hygiene standards to be observed in poultry slaughterhouses, cutting‐up premises, &c, appears to be resolved at last. (The Prayer lodged against the Regulations when they were formally laid before Parliament just before the summer recess, which meant they would have to be debated when the House reassembled, could have resulted in some delay to the early operative dates, but little chance of the main proposals being changed.) The controversy began as soon as the EEC draft directive was published and has continued from the Directive of 1971 with 1975 amendments. There has been long and painstaking study of problems by the Ministry with all interested parties; enforcement was not the least of these. The expansion and growth of the poultry meat industry in the past decade has been tremendous and the constitution of what is virtually a new service, within the framework of general food inspection, was inevitable. None will question the need for efficient inspection or improved and higher standards of hygiene, but the extent of the

Situational leadership (SL) remains highly popular among practitioners, despite considerable academic criticism, lack of theoretical debate, and relatively little published research into SL. We interviewed practicing managers trained in SL about their experiences in applying the model. SL appealed to the managers because of its intuitive simplicity, ease of use, and perceived relevance to managerial roles. SL can be applied consciously (with deliberation) or automatically. Contrary to expectations, practitioners did not report difficulty in assessing follower developmental levels. While respondents were aware that they needed to use all four SL styles in managing their people, consistent with previous research, these Australian managers preferred using supportive styles, and some went to considerable lengths to avoid being directive. The intercultural applicability of SL is questioned, and directions for further research into some of the hypotheses generated by this study are proposed.

The purpose of this study is to replicate Avery and Berger’s (1991) analysis using data from 2001 through 2011. Although risk-based capital (RBC) regulation is a key component of US banking regulation, empirical evidence of the effectiveness of these regulations has been mixed. Among the first studies of RBC regulation, Avery and Berger (1991) provide evidence from data on US banks that new RBC regulations outperformed old capital regulations from 1982 through 1989.

Using data from the Federal Reserve’s Call Reports, the authors compare banks’ capital ratios and RBC ratios to five measures of bank performance: income, standard deviation of income, non-performing loans, loan charge-offs and probability of failure.

Consistent with Avery and Berger (1991), the authors find banks’ risk-weighted assets to be significant predictors of their future performance and that RBC ratios outperform regular capital ratios as predictors of risk.

The study improves on Avery and Berger (1991) by using an updated data set from 2001 through 2011. The authors also discuss some potential limitations of this method of analysis.

The purpose of the paper is to build a sociocultural perspective of brand revitalization. Maintaining brands and bringing them back to life in the market has received much less interest than their creation. Moreover, the existing literature is dominated by the marketing management paradigm where the company’s role is emphasized. This paper addresses the phenomenon of brand revitalization from a sociocultural perspective and examines the role of consumer collectives in the process.

Using a data-driven approach, the study builds on the case of a consumer brand of footwear that has risen to unprecedented popularity without traditional marketing campaigns. Data were generated using an inductive theory building approach utilizing multiple methods, including interviews, participant observation and cultural materials.

The paper presents a conceptual model of cultural brand revitalization that has four stages: sleeping brand, spontaneous appropriation, diffusion and convergence.

Implications for companies in consumer markets are discussed, suggesting ways to facilitate the process of sociocultural brand revitalization.

The paper contributes to the literature first by offering a sociocultural brand revitalization scenario that highlights the interplay between the actions of consumers and the company, second, by examining the interaction between the symbolic meanings associated with the brand and the practices used by consumers and, third, by offering insights into the relevance of national identity in creating brand meaning.