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Commercial auctions of cultural goods are typically brokerage arrangements where potential buyers may consider pre-sale estimates (PSEs) in bidding. The economic theory suggests that PSEs should provide honest guidance – winning bids should, on average, equal PSEs – but available research from fine art and antique auctions finds otherwise. The authors examine this relationship for commercial auctions of fine wine – items which, unlike fine art and antiques, are widely traded so that bidders may more knowledgably interpret PSEs.

The paper examines the relationship of PSEs to winning bids econometrically for an iconic wine widely traded in several Chicago wine auctions, a novel setting for this analysis.

The relationship of winning bids to PSEs differs significantly between two neighboring auction houses, perhaps reflecting differences in how they do business; neither’s PSEs have a straightforward relationship to winning bids; PSEs have an influence on winning bids independent of a lot’s characteristics, reflecting perhaps an anchoring effect; the analysis suggests broad bidding strategies (with counter-strategies implied) and might guide auction house lot selection and ownership if more complete data became available.

The role and reliability of PSEs in auctions of other cultural goods, representing most of the literature, has limited application to auctions of fine wine whose markets differ categorically from those of other cultural goods.

Entrepreneurship and the development of new business continue to be the forefront of socioeconomic development in virtually all economies today. Despite evidence of increasing research into entrepreneurial growth, the existing research is limited by the fact that most studies define entrepreneurial growth as a unidimensional construct and operationalize it as “realized” growth relying on financially based measures. Consequently, this article has two objectives: (1) to develop a set of accurate and comprehensive entrepreneurial growth measures; and (2) to test a series of hypotheses regarding precursors of growth intentions‐more specifically, to what extent, infrastructure factors affect entrepreneurial growth intentions. These two questions were examined using Entrepreneurial Profile Questionnaire (EPQ) in the context of Romania.

Results from factor analysis revealed refined patterns of entrepreneurial growth, including resource aggregation, market expansion, and technological improvement. The relationships between infrastructure and entrepreneurial growth were tested using a multiple regression model. Overall, it was posited that infrastructure is positively related to entrepreneurial growth. However, in most of the cases, the opposite proved to be true. These findings suggest that the Romanian entrepreneurs would pursue expansion plans in spite of the obstacles thrown into their path. Perhaps they have already developed strategies about overcoming those obstacles and in that process have developed the strength, ingenuity, and confidence to grow their new business ventures. Perhaps the many years that Romanians were confronted with numerous political and economical obstacles have prepared them to be much more flexible and adaptive.These counter-intuitive findings reflect on the hardiness and perseverance of the Romanian entrepreneurs.

This article is about the construction of masculinity in the German rap scene. After giving a short overview over the history, structure, main narratives and economic relevance of German rap, the construction of rap masculinity will be mainly discussed in the context of a transformation of the (global) gender order. For example, what impact does the rise and success of female rappers have on the gendered power relations within the German rap scene? Does the inclusion of feminine-coded moves and sounds, aesthetics or topics indicate a shift towards more alternative forms of masculinity? And what does it mean, when male rap artists currently rap about the meaning of masculinity, as if it was something that has to be (re-?) defined all at once?

The field study works with different data material from the rap scene, lyrics, interviews, but also multimodal signs as album covers, photos, video material, etc. Through discourse analysis, major discursive lines and threads are pointed out to draw a picture of gender order in this distinctive social and artistic setting.

The purpose of this paper is to profile the characteristics, attributes and growth orientations of Lebanese entrepreneurs, including the relationships, roles, and contributions that family and culture make and play in the development of private small and medium‐sized enterprises.

Drawing on a sample of 112 entrepreneurs, psychographic motives, demographic attributes, and business activities are revealed. A series of 112 in‐depth personal interviews was conducted over a 12 month period between May 2006 and 2007. The entrepreneurial profile questionnaire (EPQ) was utilized as a data collection instrument. The EPQ was designed to survey the effect of individual, societal, and environmental factors on entrepreneurship and family business development by collecting a combination of demographic information and extensive detail related to characteristics and orientations.

The findings suggest that entrepreneurs are motivated by the need for independence and flexibility. Entrepreneurs were found to rely heavily on family member participation to establish, develop, and grow their enterprises. The majority of the entrepreneurs surveyed employ at least one family member on a full‐time basis. Entrepreneurs were also found to use family finances as the primary source of start‐up capital. Family participation in the form of employment and investment was found to have a positive impact on entrepreneurial growth intentions and expansion plans.

The paper offers insights into family contributions to entrepreneurial development in Lebanon.

The funding of defined-benefit plans has garnered the attention of academicians, practitioners, and policymakers. Drawing upon agency and organizational control theories, this study investigates the implications of board independence on changes in defined-benefit funding. Using a panel dataset of S&P 500 companies sponsoring defined-benefit plans, the author finds that corporate boards matter. Specifically, CEO duality and outside director representation are associated with year-to-year decreases in defined-benefit funding. Conversely, outside director ownership is related to year-to-year increases in defined-benefit funding. Furthermore, outside director ownership moderated the relationship between outside director representation and defined-benefit funding such that outside director representation is associated with year-to-year increases in defined-benefit plan funding when the percentage of outside director ownership is high.

This paper reviews and assesses the aim, substance, and impact of Simon Susen’s book, “The Postmodern Turn” in the Social Sciences.

The review follows the structure of Susen’s book, by description and by evaluation.

Susen’s book encompasses a very large volume of literature of the self-defined “postmodern,” then concludes that the covered material has contributed little that is new to the social sciences.

The review has not been previously published, does not replicate any prior assessment known to the author.

This paper investigates the substance of institutions in the context of business ethics. In particular, I test a theory of stakeholder attention to resource commitments by firms that implement the Ethics and Compliance Officer (ECO) position, from 1990 to 2008. Results support the hypothesized curvilinear relationship between resource commitments and stakeholder attention – while both high and low levels of ECO implementation generate low levels of reported ethics transgressions (the former due to good firm behavior and the latter due to stakeholder disengagement), moderate ECO implementation produces elevated transgression reports (due to raised expectations and increased engagement). Contrary to extant theory, results are consistent across both internal and external firm stakeholder groups.

Energy consumption in transportation accounted for over 29% of total final consumption (TFC) of energy and 65% of global oil usage, and it is highly connected to mobility. Mobility is essential for access to day-to-day activities such as education, leisure, healthcare, business activities, and commercial and industrial operations. This study examines the energy consumption for the transport industry, and the level of renewable energy development in some selected Sub-Saharan African (SSA) nations. This study relied on previous publications of government, reports and articles related to the subject matter. Vehicle ownership is fast increasing, particularly in cities. Still, it begins at a relatively low level because the area is home to countries with the lowest ownership rates worldwide. In its current state, the energy sector faces significant challenges such as inadequate and poorly maintained infrastructure, dealing with increasing traffic congestion in cities, large-scale imports of used vehicles with poor emission standards that affect air quality in cities, a lack of safe and formally operated public transportation systems, and inadequate consideration for women and disabled mobility needs. Motorcycle and tricycle are dominating the rural areas, accounting for a substantial amount of this growth. Aviation is the largest non-road user of energy, and this trend is predicted to continue through 2040 as Gross Domestic Product (GDP) grows and urbanisation expands. This study revealed the energy consumption for the transport industry, and the level of renewable energy development in some selected SSA. Rail and navigation lag behind current global levels. The usage of biofuel and rail transport was recommended.