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Supply chain governance constitutes the rules, structures and institutions that guide supply chains toward various objectives, including environmental sustainability. Previous studies have provided insight into the relationship between governance and sustainability but have overlooked two crucial dimensions: power dynamics and the influence of outside actors. This paper aims to address these two gaps by measuring differential power (i.e. power asymmetries) among actors across the supply chain, including external actors.

This paper quantifies power dynamics across the entire chain through a structured survey in which supply chain participants rank their peer’s ability to affect environmental and social outcomes. This paper tests this approach by surveying 200 industry professionals (e.g. feedlot owners, retailers) and external actors (e.g. NGOs) in the US beef sector.

Respondents ranked the most powerful actors as follows: feedlot owners; processing plant owners; and regulatory agencies. Results also revealed that trade associations, retailers and cow–calf producers and ranchers perceive a sense of powerlessness. This study reveals multiple power nodes and confirms a shift in the power structure depending on which indicator respondents considered (e.g. environmental impacts vs employee safety). This study concludes that the buyer–producer dichotomy often used to assess supply chain governance fails to capture the complex dynamics among actors within supply chains.

This study demonstrates a novel approach to measure perceptions of power in supply chains. This method enables researchers to map networks of power across entire supply chains, including internal and external actors, to advance understanding of supply chain governance dynamics. Previous studies have misidentified who governs environmental outcomes in supply chains, and NGOs have overestimated the power of consumers and retailers to influence producers.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

Real estate is an asset that is traded in highly segmented, illiquid and informationally inefficient local markets. A short sale in real estate is almost infeasible and therefore impedes informed rational arbitrageurs to trade against mispricing. Thus, real estate returns are prone to sentiment-driven behaviours. Will the impacts on asset returns be identical for different types of sentiment?

This study argues that not all sentiment effects are created equal. Using the bounds test of the autoregressive distributed lag (ARDL) models, this paper examines how occupier sentiment versus investor sentiment contributes to the short-run and long-run dynamics of commercial real estate returns in Australia.

The empirical evidence suggests that investor sentiment and occupier sentiment influence return asymmetrically after macroeconomic conditions are controlled for.

The sectoral analysis further reveals that sector-specific sentiment plays a significant role in explaining commercial real estate returns. Furthermore, notable improvement is found in producing more accurate prediction in returns, given that measures of occupier and investor sentiment are appropriately specified in the forecast.

This study is novel in the sense that it acknowledges the impacts of occupiers' and investors' sentiment may be fundamentally different. The unique innovation and contribution of this study to behavioural finance literature are based on a new dataset from the Royal Institute of Chartered Surveyors which includes a survey-based measure of investor sentiment and occupier sentiment.

This chapter presents the key results of a research project that explored managing service productivity in Sub-Saharan Africa through the lens of lived experiences of bank executives employed as ‘knowledge workers’ in the Nigerian banking sector. The study adopted a qualitative phenomenological research design. Data was gathered from 16 Nigerian top bank executives purposively selected using semi-structured face-to-face interviews. Trans Positional Cognition Approach (TPCA), a new phenomenological research method, was used to analyse the data gathered. The study data analysis yielded five themes; micromanagement practices, use of dysfunctional strategies to drive service operations, deposit mobilisation target as a productivity measure, managerial indifference to potential nescience economy issues and master-servant (power culture) strategy, which epitomises fundamental managerial approaches adopted in the sector. The study identified critical service productivity management issues grounded in reality that influence the capability and potentiality of the study knowledge workers. It also contributes the novel, ‘official knowledge worker lived experience of service productivity model’ for use by decision-makers in the banking sector. Thus, it sets an agenda for these ‘knowledge workers’ line managers’ and bank regulators in the research setting. The study extended the viable system model by applying it in this phenomenological enquiry and using it to explain/deepen our understanding of the findings that emerged. The output of this work contributes to scholarly knowledge on service productivity management from the sub-Saharan African banks’ perspective. It can be generalisable in countries with similar financial and economic characteristics like the research setting.

As a sustainability initiative with the backing of civil society, business, or government interests, urban agriculture can drive green gentrification even when advocates of these initiatives have good intentions and are aware of their exclusionary potential for urban farmers and residents. I investigate this more general pattern with the case of how urban agriculture became used for green gentrification in Denver, Colorado. This is a city with many urban farmers that gained access to land after the Great Recession but faced the contradiction of being a force for displacement and at risk of displacement as the city adopted new sustainability and food system goals, the housing market recovered, and green gentrification spread. I argue that to understand this outcome, it is necessary to explain how political economy and cultural forces create neighborhood disinvestment and economic marginalization and compel the entrance of urban agriculture initiatives due to their low-profit mode of production and potential economic, environmental, and social benefits. Central to how urban agriculture initiatives contribute to green gentrification is the process of revalorization, which is how green growth machines repurpose such initiatives by drawing on their cultural cachet to exploit rent gaps. I conclude with a set of hypotheses to help other scholars test the conditions under which urban agriculture is more or less likely to contribute to green gentrification. Doing so may help nuance convictions about the benefits of urban agriculture within the context of entrenched inequalities in rapidly changing cities.

The value which can be placed upon the rights of property in a name of a commodity, a food or drink, perhaps famous all over the world, which has come down to us through the centuries, is incalculable. Most of such foods and drinks have a regional association, and are prepared according to methods, often secret, handed down from one generation to another and from locally grown and produced materials. Nowhere are such traditions so well established as in cheese‐making and the wine industry. The names do not signify merely a method of manufacture, since this can be simulated almost anywhere, nor even the raw materials, but differences in climate, the soil and its treatment, its produce, harvesting, even in the contaminants of environment. Rochfort cheese, for example, is made from ewe's milk, but most important, with mould growths found only in the caves of that part of France where it is stored.

The purpose of this paper is to offer a new theory of human nature to explain the happiness paradox of capitalism.

It is argued that happiness crisis in capitalism stems from the lack of full understanding of human nature which is like a black box from which key assumptions in capitalist market system are derived. The author attempts to unlock this black box in order to understand the failure of capitalism in bringing happiness.

As the success of capitalism comes from its partial understanding of human nature, its failure comes from its partial misunderstanding or exploitation of human nature. This leads to ignoring the needs and desires of certain elements of human nature for the sake of serving only the animal spirit and self‐centric ego. The proposed new theory offers a new understanding of happiness and its determinants. Comparing the human body to a luxury recreational vehicle (RV) and the elements of human nature to the companions on this vehicle, the theory suggests that an individual cannot be truly happy if he or she listens only to one of his/her residents while disregarding the others. The new theory offers better explanation for the 2008 financial crisis and the happiness paradox in wealthy nations. It also provides an underlining framework for the existing happiness theories.

The new theory needs to be tested through empirical studies.

The paper theoretically argues that that authentic happiness is possible if individuals listen to the voices of all elements of human nature and try to fulfil their needs and desires in a balanced manner.

The paper offers a new comprehensive theory on human nature.

The aim of this study was to identify these enablers in literature and subsume them under broad categories for the development of a framework showing the interrelationships among the enablers.

Fifty-four (54) relevant articles were desk reviewed from different construction peer-reviewed journals and published conference proceedings to identify 20 core enablers of incorporating indoor environmental quality (IEQ) into building designs.

The identified enablers include improved occupants' health, well-being and satisfaction, environmental conservation, high return on investments and co-operative methods of design and construction management among others. To better understand the enablers identified, they were classified into seven main interconnected categories: economic enablers, environmental enablers, occupant and end-user enablers, process enablers, corporate image, culture and vision enablers, client-related enablers and external enablers.

The interconnectedness brought to the fore a subtler appreciation of the drivers of IEQ, which could help expand current knowledge outside the narrow scope of isolated drivers. The fact that the papers selected in this study are not limited geographically underscores the wide applicability of the findings to the global construction industry.

Understanding that the enablers will enhance the adoption and design of quality indoor environments, help in building the capacity of consultants to adopt the design of quality IEs and reduce the impact of construction on the environment.

These identified enablers are not limited geographically and thus could promote the design of quality indoor environments globally, particularly in green building design. To the global construction community, this review presents a list of enablers that would expedite the adoption of principles of IEQ designs in buildings thus taking the global construction industry one more step towards sustainable built forms. Promoting the identified enablers would ultimately steer stakeholders to design and build better indoor environments.

The fact that the papers selected in this study are not limited geographically underscores the wide applicability of the findings to the global construction industry.

Volume 25 celebrates the 25th year of publication for the American Journal of Business (AJB). Launched by eight MAC schools of business in March 1986, the Journal has featured more than 700 authors who have contributed more than 330 research articles at the intersection of theory and practice. From accounting to marketing, management to finance, the Journal prominently covers the breadth of the business disciplines as a general business outlet intended for both practitioners and academics. As the Journal reaches out beyond the MAC in sponsorship, authorship, and readership, we assess the Journal’s first quarter century of impact.

Forty‐six milks were submitted for analysis. Five of these were reported against for added water or fat deficiency. The leaky churn appeared on the scene in one case, but this did not save the vendor from fine and costs amounting to over thirteen pounds.