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The purpose of this paper is to explore relationships that seniors (aged 55 and above) experience with prescription pharmaceutical brands, thus attending to situations where consumers have limited control over brand choice.

A phenomenological study was conducted involving interviews with seniors in two Canadian cities. Phenomenology relies on a small number of interviews that are analyzed in depth and describes the lived consumer experience. Data analysis focused on types of relationships participants had experienced with brands and factors that influenced relationships.

Analysis reveals four types of relationships that seniors hold with prescription pharmaceutical brands. The interpersonal relationship metaphor of arranged marriages can be used to describe relationship forms that seniors develop with brands. The quality of relationship seniors have with prescribing physician, who acts as marriage broker, and brand attributes influence relationships with prescription pharmaceutical brands. Consumer's ethos and nature of illness also influence brand relationships.

The study provides insights into brand choice situations where consumers have low control and addresses impact of intermediaries on consumer experiences. It opens the way for further research on mediated brand relationships.

Marketing managers need to understand the role of intermediaries, where applicable, in influencing consumer relationships with brands.

The study closes a gap in academic research (which is sparse) on relationships with prescription pharmaceutical brands held by consumers – specifically older consumers. It also encourages a critical view of the arranged marriage metaphor as a means of understanding consumer‐brand interactions.

Debt‐equity swaps are currently very popular instruments to reduce debt obligations by developing countries. American trading companies can now be formed with equity participation of US banks and can be exempt from routine anti‐trust legislation as a result of recent legislation. This article suggests that debt‐equity swaps can prove to be a powerful tool for enhancing the formation of new American trading companies and, in the case of existing ones, add to their ability to establish a presence in foreign markets.

This article aims to report on the development and validation of a bribery measurement index for the business sector, which, based on institutional theory, seeks to overcome the limitations of traditional measurements, recognizing the dynamics that originate the phenomenon and identifying process components.

To construct the index, correlational and principal component analysis techniques were used, as well as rigorous statistical tests, validating the instrument in a sample of 2,963 companies in Latin America, including Argentina, Colombia, Chile, Ecuador, Guatemala, Mexico and Peru.

The result was an instrument composed of two dimensions: (1) anti-bribery game rules, composed of regulations knowledge and anti-bribery efforts, and (2) bribery as a perceived habit, allowing an objective representation of reality due to its internal consistency, concurrent and discriminant validity.

This instrument is one of the few that focuses on measuring bribery in the business sector in terms of corrupt practices, applicable for both public and private institutions to promote game rules against bribery. Additionally, the proposed theoretical model can be used to measure other phenomena with similar characteristics.

This article empirically highlights different variables that make bribery possible. The results can be helpful in the design of strategies to prevent this type of behavior. It also highlights the importance of designing mechanisms to record information related to bribery and the different expressions of corruption in order to explain its different nuances.

Este artículo informa sobre el desarrollo y validación de un índice de medición de soborno para el sector empresarial, que, basado en la teoría institucional, busca superar las limitaciones de las mediciones tradicionales, reconociendo las dinámicas que originan el fenómeno e identificando los componentes del proceso.

Para la construcción del índice se utilizaron técnicas de análisis correlacional y de componentes principales, así como rigurosas pruebas estadísticas, validando el instrumento en una muestra de 2.963 empresas de América Latina, entre ellas Argentina, Colombia, Chile, Ecuador, Guatemala, México y Perú.

El resultado fue un instrumento compuesto por dos dimensiones: (1) reglas de juego antisoborno, compuestas por conocimiento normativo y esfuerzo antisoborno (2) soborno como hábito percibido, permitiendo una representación objetiva de la realidad debido a su consistencia interna, validez concurrente y discriminante.

Este artículo pone en evidencia empírica diferentes variables que hacen posible el soborno. Los resultados pueden ser útiles en el diseño de estrategias para prevenir este tipo comportamiento, también destaca la importancia de diseñar mecanismos para registrar la información relacionada con la lucha contra el soborno.

Este instrumento es uno de los pocos que se enfoca en medir el soborno en el sector empresarial en términos de prácticas de corrupción, útil para instituciones tanto públicas como privadas para promover mejores reglas de juego en contra del soborno. Adicionalmente el modelo teórico propuesto puede ser utilizado para medir otros fenómenos con características similares.

The purpose of this paper is to present the progress and trends of the literature on art as an investment and to outline potential research lines to be developed.

This work gathers, analyses and critically discusses the attributes of investments in art in general, and in Latin American art in particular.

Most studies report that art (art in general, and Latin American in particular) has offered relatively low but positive real returns, which have tended to be below those offered by stocks and similar to those realized by bonds. Art has a low correlation with other investments.

The literature on the attributes of Latin American art as an investment is limited and new research would help to close the knowledge gap with respect to this segment of the art market as it continues to grow.

Similarly to the research carried out into other segments of the art market, studies on Latin American art suggest that the works of art are worth more, ceteris paribus: the more renowned the artist, the larger the work, whether they were executed in oil, and if they were auctioned at Sotheby’s or Christie’s. The paper also details a series of practical implications for those who participate in the art market.

To the best of the authors’ knowledge, this is the first exhaustive review of the literature on the attributes of Latin American art as an investment. The findings of this study are useful for academics, art collectors, auction houses, gallerists and others who take part in the arts market.

Presentar los avances y las tendencias de la literatura sobre el arte como inversión, y delinear líneas de investigación a ser desarrolladas.

Este trabajo reúne, analiza y discute críticamente los atributos de inversión del arte, en general, y latinoamericano, en particular.

La mayoría de los estudios reportan que el arte (tanto el arte, en general, como el arte latinoamericano, en particular) ha ofrecido rendimientos reales positivos, aunque relativamente bajos, los cuales tienden a ser inferiores de los de las acciones y a ser similares a los de los bonos. El arte tiene una baja correlación con otras inversiones.

La literatura sobre los atributos del arte latinoamericano como inversión es limitada. Es de esperar que nuevas investigaciones permitan ir cerrando la brecha del conocimiento con respecto a esta parte del mercado del arte a la par que éste continúe creciendo.

Los estudios de arte latinoamericano sugieren, similar a las investigaciones sobre otros segmentos del mercado del arte, que las obras de arte valen más, ceteris paribus: cuando el artista es más reputado, a medida que el área de las obras es mayor, si han sido ejecutadas en óleo, y cuando son subastadas en las casas de subastas Sotheby’s o Christie’s. En el trabajo se detallan, además, una serie de implicaciones prácticas para los participantes del mercado de arte.

Hasta donde se ha podido comprobar, esta es la primera revisión exhaustiva acerca de los atributos del arte latinoamericano como inversión. Los resultados de esta investigación son de utilidad para: académicos, coleccionistas de arte, casas de subastas, galeristas, y demás participantes en el mercado del arte.

This paper investigates the user entrepreneurship process in the video game industry, and how this process is influenced by the interactions between user entrepreneurs and communities.

The paper presents an exploratory multiple case study on 17 firms founded in the video game industry by Italian users.

The findings show that in most of the cases analysed, innovation by users precedes identification of the entrepreneurial opportunity. This research identifies three categories of communities that provide different forms of support to user entrepreneurs: communities of (1) gamers/users, (2) developers/innovators and (3) entrepreneurs. Given the different role played, the three categories of communities have a different relevance during the various phases of the innovation and entrepreneurial path: communities of gamers/users and of developers/innovators affect innovation development and opportunity identification, while communities of entrepreneurs help users to evolve from opportunity recognition to the start-up of a firm.

This study investigates the video game industry, a context in which user entrepreneurship is under-researched and that is characterized by the intangible nature of the products (while previous studies have mainly focused on physical goods). It contributes to extant literature by revealing that, at the beginning of the end-user entrepreneurial process, there may be not only unmet needs but also “excitement-driven” innovations. Moreover, by analysing the whole entrepreneurial path, the study shows how three categories of communities (gamers/users, developers/innovators and entrepreneurs) provide different forms of support to user entrepreneurs in the different phases of the entrepreneurial process.

Notwithstanding the importance innovation scholars have accredited to design-driven innovation (DDI), no attempts have been made so far to systematically study whether and how this innovation strategy can be used in the retail context in order to gain and nurture competitive advantage. The purpose of this paper is to make a first step towards closing this gap, and therefore understand whether and how companies involved in retail service can create competitive advantage by the adoption of a strategy based on innovation of meanings.

Due to the complex ecosystem of variables that inevitably influence the problem, the case study approach represents the best option to grasp the different aspects highlighted by the research objectives. The analysis undertook a thorough and systematic comparison with the use of an ad hoc “paired comparison method”, in which common systemic characteristics have been intended as a controlled variable in order to minimise the variance and quantity of factors that can have an impact on the selected case studies; intersystemic differences have been understood as explanatory variables to decree the contribution in terms of novelty in relation to the current paradigm.

The paper provides empirical insights about how radical innovation in meanings can be a very important lever on which retail firms can act to gain and nurture their competitive advantage.

Of course the study has several limitations, which represent however opportunities for future research. The authors say that the findings, given the exploratory nature of the study, cannot be generalised to any population of firms or markets, rather they should be used as a basis to develop theoretical understanding of a complex phenomenon and draw research propositions and hypotheses to be tested in subsequent deductive empirical research.

This paper highlights the importance to think, beyond shopping experience, at the role of new meanings when designing service innovation in retail firms. Although the findings do not have statistical relevance, given the exploratory nature of the study, they suggest that DDI can be a viable option for retail firm managers to improve their firms’ competitiveness.

The study presented in this paper has merit to broaden the generalisability of the DDI model to other industries, different from those where it was initially studied and applied. This is an important step toward conceptualising DDI as a novel management paradigm.

This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided by James M. Buchanan’s late 1950s assessment of the economist-physician analogy. The chapter draws upon a range of archival and neglected primary sources to show that the topics which generally rear their head in any contemporary discussion of Friedman’s visit to Chile – for example, whether it is appropriate to provide policy advice to a dictator – were aired in a largely private mid-1970s exchange between Friedman and a number of professional associates. In particular, the controversy over Friedman and Chile began several months before Friedman arrived in Santiago.

Purpose: To investigate best practices pertaining to tourism resilience and develop a tourism resilience framework for post-COVID-19 Bangladesh from the tourism destination management perspective.

Methodology: A qualitative research approach involving an integrative literature review was used in this research. Thirty-two scholarly works were considered in a thematic data analysis conducted to inform the development of a framework for post-COVID-19 Bangladesh.

Findings: Tourism resilience will be imperative, particularly in the areas of ecology, society, economy, and engineering, on institutional and individual levels. The proposed framework includes government, organization, social, and individual level resilience as the specific measures for Bangladesh. The particular nature of COVID-19 cases in Bangladesh, resulting in a relatively low death toll amidst a high-density population, works as a supportive ground in favor of resilience in the post-COVID-19 reality.

Practical Implications: The integrated framework is a theoretical contribution to post-COVID-19 tourism resilience literature on Bangladesh. It will operate as a policy guideline for key stakeholders when implementing initiatives to revive the tourism sector in the changed reality of Bangladesh after the pandemic.

Originality: The framework presented in this paper is the first attempt of its kind and can facilitate effective economic rebuilding in the changed postpandemic reality. The framework can be generalized to apply to other developing countries as well.

Paper Type: Theoretical framework development.