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The discrete Fourier transform (dft) of a fractional process is studied. An exact representation of the dft is given in terms of the component data, leading to the frequency domain form of the model for a fractional process. This representation is particularly useful in analyzing the asymptotic behavior of the dft and periodogram in the nonstationary case when the memory parameter d≥12. Various asymptotic approximations are established including some new hypergeometric function representations that are of independent interest. It is shown that smoothed periodogram spectral estimates remain consistent for frequencies away from the origin in the nonstationary case provided the memory parameter d < 1. When d = 1, the spectral estimates are inconsistent and converge weakly to random variates. Applications of the theory to log periodogram regression and local Whittle estimation of the memory parameter are discussed and some modified versions of these procedures are suggested for nonstationary cases.

Purpose – This study is intended to extend scholarship on the management of organizations by examining the long-term performance of orphaned products.

Design/methodology/approach – This study uses the historical context of the 1929 stock market crash and the Great Depression to examine the long-run appeal (performance) of orphaned products – products from start-ups that fail soon after production. I use this setting to determine how factors within the purview of management, as well as the role of changing tastes, affect the appeal of music from short-lived start-ups founded in 1929 and 1933.

Findings/originality/value – I find that while the evolution of tastes has a substantial effect beyond the control of a firm's managers, a start-up's decision-makers were able to positively influence the long-run appeal of music when they (a) recorded tunes with new artists and (b) were able to create an early big hit with the tune. These results demonstrate how and why, even with cultural producers in one of the greatest economic disasters in U.S. history, managerial decisions were meaningful for product performance. Finally, I show that the effect of being a start-up on the long-run appeal of a tune is time-varying such that being a start-up in 1929 or 1933 does not harm a tune's appeal until after World War II. These final analyses point to further ways in which strategy, history, and sociology might combine to further scholarship on the management of organizations.

We explore how the long-run success of cultural products is affected by the identities of the product's originators and early adopters. Using U.S. jazz recordings from 1920 to 1929, we found that songs were more likely to be later covered from 1944 to 2004 if they followed a pattern of having black originators and white early adopters. Moreover, we provide evidence that this pattern is independent of a song's commercial success, resources available to a song's originators, and group-level indicators such as size and experience. We conclude that late adopters (musicians after World War II (WWII)) were attracted to songs that followed a narrative of both “lowbrow” origins and early adoption by those considered “highbrow” with respect to jazz. The findings also support a new means for considering the role of identities as the building blocks of genres, in particular, and categories more generally.

This article seeks to identify the type of producers most likely to deviate from category-based expectations in the pursuit of profit. I describe circumstances under which a category’s core members are, paradoxically, more likely (than its peripheral members) to deviate. This phenomenon reflects market participants’ default expectations about core members and the resulting bias in information-search processes. I offer empirical evidence of Champagne producers getting involved in “buyer’s own brands” (BOB), a behavior that is not directly observed yet deviates considerably from grape suppliers’ category-based expectations. The econometric analysis leverages an exogenous shock that increased the scrutiny of BOB by grape suppliers. I find that before the shock, BOB products were more likely to be supplied by “traditional” houses – which grape suppliers view as core industry members and hence as being above suspicion in that regard. I discuss the implications of these results for prior work in this area as well as the article’s contribution to extant literature.

Industry platforms can alter relations among exchange partners in such a way that the industry structure is changed. The focus of much industry platform research has been on how platform creation and leadership offers advantages to the most central firms, but platforms can also be advantageous for small specialist firms that compete with the most central firms. We examine book publishing as an example of an industry in which the central players – large publishing firms – are losing power to self-publishing authors because the distributor Amazon has a powerful platform for customers to communicate independently, and the non-publishing platform Twitter also serves as a medium for readers to discuss and review books. Our empirical analysis is based on downloaded sales statistics for Amazon Ebooks, matched with Amazon reviews of the same books and tweets that refer to the book or the author. We analyze how Ebook sales are a function of publisher, Amazon reviews, and tweets, and we are able to assess the importance of each factor in the sale of book titles. The main finding is that Amazon reviews are powerful drivers of book sales, and have greater effect on the sales of books that are not backed by publishers. Twitter also affects book sales, but less strongly than Amazon reviews.

Past theorizing and empirical work suggest that long-standing strategic leaders generate harmful attention and information-processing effects in their organizations, which in turn impair organizational learning and performance. In contrast, our argument is that longevity and its attendant inertia foster useful transformational and strategic persistence for organizations pursuing stretch goals. Through attentional vigilance and restricted focus, inertia may create the cognitive profile necessary for effective learning when organizations pursue the seemingly impossible. We empirically examine our ideas in the context of the French royal navy and the naval battles it had with the British in the seventeenth and eighteenth centuries. More specifically, we focus on two distinct but related stretch periods during which the French royal navy was tasked with building a powerful naval force and using it to gain naval supremacy over Great Britain. Given its exceptionally weak starting position at the beginning of the two studied periods and its desire to displace the established and advantaged navy of the era, the French had a lofty task. Our results are supportive of the stability argument, with leader longevity and inertia being positive for outcomes.

Since the arrival of mass production, commodification has been plaguing markets – none more so than that for music. By separating production and consumption in space and time, commodification challenges the very conditions underlying economic exchange. This chapter explores authenticity as the institutional response to the commodification of music, rekindling the relationship between isolated market participants in the increasingly digitized world of music. Building upon the “Production of Culture” perspective, we unpack the commodification of music across five different institutional realms – (1) production, (2) consumption, (3) selection, (4) appropriation, and (5) classification – and provide a thoroughly relational account of authenticity as an institutional practice.