Stephanie M. Monaco, Amy Ward Pershkow, Leslie S. Cruz, Peter M. McCamman, Andrew D. Getsinger and Adam Kanter
To explain a guidance update issued in February 2017 by the staff of the Division of Investment Management (Staff) at the US Securities and Exchange Commission (SEC) on how…
Abstract
Purpose
To explain a guidance update issued in February 2017 by the staff of the Division of Investment Management (Staff) at the US Securities and Exchange Commission (SEC) on how robo-advisers may meet their disclosure, suitability and compliance obligations under the Investment Advisers Act of 1940 (Advisers Act).
Design/methodology/approach
Examines the update’s guidance on three areas – the substance and presentation of disclosures, the provision of suitable investment advice, and the adoption and implementation of effective compliance programs – and then raises practical considerations for robo-advisers.
Findings
The update reflects the Staff’s increasing concern about the potential risks of the robo-adviser platform and provides a listing of key issues that the SEC’s Office of Compliance Inspections and Examinations (OCIE) – which recently added “electronic investment advice” as a new focus for its 2017 examinations – may zero in on when examining robo-advisory firms.
Practical implications
Robo-advisers should carefully review the Staff’s update to evaluate whether their firms’ operations address the guidance.
Originality/value
Practical advice from experienced securities regulatory lawyers.
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Leslie S. Cruz and Stephanie M. Monaco
To inform readers of the challenges that fintech companies can have regarding investment company status, using two recent examples.
Abstract
Purpose
To inform readers of the challenges that fintech companies can have regarding investment company status, using two recent examples.
Design/methodology/approach
The article provides an introduction to the subject, discusses two examples of fintech companies that had investment company status challenges, and provides concluding remarks regarding each.
Findings
Navigating investment company status can be challenging for fintech companies, and in some cases, as was the case with the two companies discussed in the article, it may be necessary, or at least advisable, to seek to obtain an order from the SEC.
Practical implications
It is important for fintech companies to evaluate their investment company status in early stages and continue to monitor their status thereafter, particularly if they are considering a public offering.
Originality/value
Technical guidance from experienced investment company status lawyers.
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Hannele Kauppinen-Räisänen, Johanna Gummerus, Catharina von Koskull and Helene Cristini
The purpose of this study was to explore what luxury represents to contemporary consumers in their own life contexts.
Abstract
Purpose
The purpose of this study was to explore what luxury represents to contemporary consumers in their own life contexts.
Design/methodology/approach
A mixed-methods qualitative approach was adopted that comprised individual, personal interviews and focused interviews with small groups.
Findings
The study contributes to the field of luxury research by highlighting consumers’ interpretations of luxury as highly subjective, relative and contextual; showing that according to consumers, luxury relates to both consumption and non-consumption contexts; illustrating the value of luxury as a multidimensional construct in both contexts; and demonstrating how luxury may relate to a consumer’s desire to be meaningful and genuine, thereby generating prudential value. In these cases, luxury is closely linked to consumers’ perceptions of meaningfulness and well-being.
Practical implications
For marketing managers, the findings suggest that the wave of new luxury – seeking meaningfulness – may serve as a novel means of branding.
Originality/value
This study demonstrates that the significance of the concept of luxury transcends commercial settings and offerings, i.e. the brand, product or service. The findings show that luxury may also be generated in non-commercial contexts and specific activities (e.g. running, gardening). Based on these findings, it is proposed that luxury in non-commercial settings is characteristic of the new wave of luxury, and that in such settings, luxury may contribute to personal well-being, thereby generating prudential value.
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Chris Igwe, Bettina von Stamm and and Meltem Etcheberry
Arne De Keyser and Werner H. Kunz
Service robots are now an integral part of people's living and working environment, making service robots one of the hot topics for service researchers today. Against that…
Abstract
Purpose
Service robots are now an integral part of people's living and working environment, making service robots one of the hot topics for service researchers today. Against that background, the paper reviews the recent service robot literature following a Theory-Context-Characteristics-Methodology (TCCM) approach to capture the state of art of the field. In addition, building on qualitative input from researchers who are active in this field, the authors highlight where opportunities for further development and growth lie.
Design/methodology/approach
The paper identifies and analyzes 88 manuscripts (featuring 173 individual studies) published in academic journals featured on the SERVSIG literature alert. In addition, qualitative input gathered from 79 researchers who are active in the service field and doing research on service robots is infused throughout the manuscript.
Findings
The key research foci of the service robot literature to date include comparing service robots with humans, the role of service robots' look and feel, consumer attitudes toward service robots and the role of service robot conversational skills and behaviors. From a TCCM view, the authors discern dominant theories (anthropomorphism theory), contexts (retail/healthcare, USA samples, Business-to-Consumer (B2C) settings and customer focused), study characteristics (robot types: chatbots, not embodied and text/voice-based; outcome focus: customer intentions) and methodologies (experimental, picture-based scenarios).
Originality/value
The current paper is the first to analyze the service robot literature from a TCCM perspective. Doing so, the study gives (1) a comprehensive picture of the field to date and (2) highlights key pathways to inspire future work.
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Julie Z. Sneath, Carol M. Megehee and Deborah F. Spake
The purpose of this paper is to examine the subculture of Southern Mardi Gras society in coastal Mississippi and Alabama.
Abstract
Purpose
The purpose of this paper is to examine the subculture of Southern Mardi Gras society in coastal Mississippi and Alabama.
Design/methodology/approach
Participant observation was used to explore the subculture as well as depth interviews with 42 informants who participated in Mardi Gras societies and/or balls.
Findings
The findings demonstrate that social identity theory is supported in Southern Mardi Gras society and that elements of racial divide, social stratification, and fixity of residence continue to support this subculture.
Originality/value
While most who are aware of Mardi Gras traditions associate it solely with New Orleans, this paper presents the rich subculture of Mardi Gras societies that extends along the upper Gulf Coast region of the USA. Tied to tourism in this region, these practices are explored for the nuances of this subculture and the Mardi Gras event myth.
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Ashleigh Haw, Jay Daniel Thompson and Rob Cover
Widespread news coverage, politicised debate and social media commentary have given prominence to COVID-19 as an unparalleled threat to global health and mortality, intensifying…
Abstract
Widespread news coverage, politicised debate and social media commentary have given prominence to COVID-19 as an unparalleled threat to global health and mortality, intensifying panic and insecurity worldwide. In response, the endorsement and amplification of false claims about the pandemic has proliferated, in many cases, by public figures in the online ‘wellness’ realm. Using COVID-19 as a case study, this chapter interrogates observed connections between digital wellness cultures and informational disorders in times of crisis. The authors discuss the bourgeois liberal-individualist ideals that increasingly underpin much of this communication, exemplified through the co-option of social justice rhetoric and narratives of the ‘persecuted hero’. The authors also recognise the growing number of wellness influencers openly resisting pandemic-related mis/disinformation, and note the forms of anti-individualist, mutual care demonstrated in these ‘debunking’ efforts. The authors argue that these practices reflect a form of networked solidarity – enacted alongside a discursive distancing from individualist modes of thinking – that can be understood by applying a social ecological framework for understanding ‘resilience’.
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Seyed Sajad Rezaei Nasab, Abbasali Tayefi Nasrabadi, Somayeh Asadi and Seiyed Ali Haj Seiyed Taghia
Due to technological improvement and development of the vehicle-to-home (V2H) concept, electric vehicle (EV) can be considered as an active component of net-zero energy buildings…
Abstract
Purpose
Due to technological improvement and development of the vehicle-to-home (V2H) concept, electric vehicle (EV) can be considered as an active component of net-zero energy buildings (NZEBs). However, to achieve more dependable results, proper energy analysis is needed to take into consideration the stochastic behavior of renewable energy, energy consumption in the building and vehicle use pattern. This study aims to stochastically model a building integrating photovoltaic panels as a microgeneration technology and EVs to meet NZEB requirements.
Design/methodology/approach
First, a multiobjective nondominated sorting genetic algorithm (NSGA-II) was developed to optimize the building energy performance considering panels installed on the façade. Next, a dynamic solution is implemented in MATLAB to stochastically model electricity generation using solar panels as well as building and EV energy consumption. Besides, the Monte Carlo simulation method is used for quantifying the uncertainty of NZEB performance. To investigate the impact of weather on both energy consumption and generation, the model is tested in five different climatic zones in Iran.
Findings
The results show that the stochastic simulation provides building designers with a variety of convenient options to select the best design based on level of confidence and desired budget. Furthermore, economic evaluation signifies that investing in all studied cities is profitable.
Originality/value
Considering the uncertainty in building energy demand and PV power generation as well as EV mobility and the charging–discharging power profile for evaluating building energy performance is the main contribution of this study.