Ricky Cooper, Wendy L. Currie, Jonathan J.M. Seddon and Ben Van Vliet
This paper investigates the strategic behavior of algorithmic trading firms from an innovation economics perspective. The authors seek to uncover the sources of competitive…
Abstract
Purpose
This paper investigates the strategic behavior of algorithmic trading firms from an innovation economics perspective. The authors seek to uncover the sources of competitive advantage these firms develop to make markets inefficient for them and enable their survival.
Design/methodology/approach
First, the authors review expected capability, a quantitative behavioral model of the sustainable, or reliable, profits that lead to survival. Second, they present qualitative data gathered from semi-structured interviews with industry professionals as well as from the academic and industry literatures. They categorize this data into first-order concepts and themes of opportunity-, advantage- and meta-seeking behaviors. Associating the observed sources of competitive advantages with the components of the expected capability model allows us to describe the economic rationale these firms have for developing those sources and explain how they survive.
Findings
The data reveals ten sources of competitive advantages, which the authors label according to known ones in the strategic management literature. We find that, due to the dynamically complex environments and their bounded resources, these firms seek heuristic compromise among these ten, which leads to satisficing. Their application of innovation methodology that prescribes iterative ex post hypothesis testing appears to quell internal conflict among groups and promote organizational survival. The authors believe their results shed light on the behavior and motivations of algorithmic market actors, but also of innovative firms more generally.
Originality/value
Based upon their review of the literature, this is the first paper to provide such a complete explanation of the strategic behavior of algorithmic trading firms.
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Jenna A. Lamphere and Jon Shefner
This paper seeks to situate the green economy (GE) within the broader history of sustainable development (SD), bringing related lessons and insights into its fold.
Abstract
Purpose
This paper seeks to situate the green economy (GE) within the broader history of sustainable development (SD), bringing related lessons and insights into its fold.
Methodology/approach
We critically examine the history of SD, focusing on the relationship between SD outcomes and a variety of theoretical and political influences, such as demodernization theories, ecological modernization, neoliberalism, and state theory. We situate the GE within this broader history and identify emergent pathways to successful GE development.
Findings
We suggest that a strong GE discourse, one that prioritizes both people and the environment, provides an opportunity to revitalize the state, combat neoliberal primacy, and drive progressive economic and environmental policy.
Practical implications
A critical examination of SD history can provide important lessons for GE actors seeking progressive social and environmental change.
Originality/ value
As social and environmental crises deepen, the need for developing and propagating discourses that engender economic reform and ecological protection becomes ever more evident.
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Some 250 ft. below the new Shell centre on the South Bank, London, is the base of the recently erected steel benchmark, said to be the only reliable one within 30 miles. Problems…
Abstract
Some 250 ft. below the new Shell centre on the South Bank, London, is the base of the recently erected steel benchmark, said to be the only reliable one within 30 miles. Problems of its protection and erection led to some interesting solutions.
The chapter traces the genealogy of the Education for All (EFA) Movement understood as a global regime of educational governance between 1990 and 2005. The chapter sets out the…
Abstract
The chapter traces the genealogy of the Education for All (EFA) Movement understood as a global regime of educational governance between 1990 and 2005. The chapter sets out the achievements of EFA including some success in uniting diverse interests around a common set of goals. It will also discuss the key tensions related to the Northern and Western-led nature of EFA; tensions between the multilateral agencies over the leadership of EFA and the issues associated with the hegemonic status assumed by the World Bank; the tension between a wider EFA agenda and a narrower focus on a few quantifiable targets; and the associated tensions between more economistic and rights-based views of EFA. It will be argued that the development of these tensions can be understood in relation to different kinds of power linked to the international political economy and to the impact of other global regimes.
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The purpose of this paper is to consider historical shifts in the mobilisation of the concept of radical in relation to Australian schooling.
Abstract
Purpose
The purpose of this paper is to consider historical shifts in the mobilisation of the concept of radical in relation to Australian schooling.
Design/methodology/approach
Two texts composed at two distinct points in a 40-year period in Australia relating to radicalism and education are strategically juxtaposed. These texts are: the first issue of the Radical Education Dossier (RED, 1976), and the Attorney General Department’s publication Preventing Violent Extremism and Radicalisation in Australia (PVERA, 2015). The analysis of the term radical in these texts is influenced by Raymond Williams’s examination of particular keywords in their historical and contemporary contexts.
Findings
Across these two texts, radical is deployed as adjective for a process of interrogating structured inequalities of the economy and employment, and as individualised noun attached to the “vulnerable” young person.
Social implications
Reading the first issue of RED alongside the PVERA text suggests the consequences of the reconstitution of the role of schools, teachers and the re-positioning of certain young people as “vulnerable”. The juxtaposition of these two texts surfaces contemporary patterns of the therapeutisation of political concerns.
Originality/value
A methodological contribution is offered to historical sociological analyses of shifts and continuities of the role of the school in relation to society.
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Maria Elena Santagati, Sara Bonini Baraldi and Luca Zan
Decentralization is a widespread and international phenomenon in public administration. Despite the interest of public management scholars, an in-depth analysis of the…
Abstract
Purpose
Decentralization is a widespread and international phenomenon in public administration. Despite the interest of public management scholars, an in-depth analysis of the interrelationship between two of its forms – deconcentration and devolution – and its impact on policy and management capacities at the local level is seldom investigated.
Design/methodology/approach
This article addresses this gap by examining the implementation of deconcentration and devolution processes in France and Italy in the cultural field, combining the analysis of national reform processes with in-depth analyses of two regional cases. The research is the result of document analysis, participatory observation and semi-structured interviews.
Findings
The article reconstructs the impacts of devolution and deconcentration processes on the emergence of policy and management capacity in two regions (Rhone-Alpes and Piedmont) in the cultural sector. The article shows that decentralization in the cultural sector in France and Italy is the result of different combinations of devolution and deconcentration processes, that the two processes mutually affect their effectiveness, and that this effectiveness is deeply linked to the previous policy and management capacity of the central state in a specific field/country.
Originality/value
The article investigates decentralization as a result of the combination of deconcentration and devolution in comparative terms and in a specific sector of implementation, highlighting the usefulness of this approach also for other sectors/countries
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Naveen Donthu, Satish Kumar, Chatura Ranaweera, Marianna Sigala and Riya Sureka
In 2020, the Journal of Service Theory and Practice (JSTP), previously titled Managing Service Quality, celebrates its 30th anniversary. This study provides a retrospective of the…
Abstract
Purpose
In 2020, the Journal of Service Theory and Practice (JSTP), previously titled Managing Service Quality, celebrates its 30th anniversary. This study provides a retrospective of the evolution and contribution of the journal to service research by identifying its major trends, research constituents, factors contributing to citations and thematic structure over its 29 active years (1991–2019). The paper concludes by providing directions and ideas for progressing service research
Design/methodology/approach
The study uses the Scopus database to extract JSTP's bibliographic data. It employs bibliometric methods to study the trends of the journal, such as the citation structure and most-contributing authors, institutions and countries. Bibliographic coupling and keyword co-occurrence analyses are used to study the intellectual structure of the journal. Regression analysis discloses the factors influencing citations of JSTP articles. Factors explaining the citation count of JSTP articles include article age, number of author keywords, article length, title length and number of references.
Findings
JSTP's influence has grown significantly in the scientific community, which is evidenced by findings relating to the citation counts, the thematic scope/variety and authorship features of the JSTP papers published during the last 30 years. JSTP attracts publications from around the globe, but most contributions come from the United States, United Kingdom and Australia. Although JSTP has continuously evolved with new and varied themes, a bibliographic coupling analysis clustered JSTP articles into five major clusters.
Research limitations/implications
The limitations of the Scopus database may impact the study's results.
Originality/value
This study is the first to provide a comprehensive review of JSTP since its launch. It is useful to the editorial board and other JSTP stakeholders as well as service scholars alike.
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Under this heading are published regularly abstracts of all Reports and Memoranda of the Aeronautical Research Council, Reports and Technical Memoranda of the United States…
Abstract
Under this heading are published regularly abstracts of all Reports and Memoranda of the Aeronautical Research Council, Reports and Technical Memoranda of the United States National Advisory Committee for Aeronautics and publications of other similar Research Bodies as issued.
Under this heading are published regularly abstracts of Reports and Memoranda of the Aeronautical Research Council and publications of other similar Research Bodies as issued.