The significance of Marx's value for strategy theory: competitive advantage and the issue of tautology within the resource-based view of the firm

Marxian thinking following the TSSI (Temporal Single System Interpretation) of Marx is applied to refute the allegation of a tautology in the resource-based view of the firm--paired with providing an explanation of how and why resources create value--, where resources are synonymous with Marx's categories of constant and variable capital. Refuting the allegation naturally leads to the holy grail of resource-based thinking, i.e. the question of what, conceptually, constitutes a firm's competitive advantage within the industry context. The article achieves its objectives by tying the resource-based view into Marx's theory value.

Higher-order moments in the theory of diversifying and portfolio composition

This paper examines the role of higher-order moments in portfolio choice within an expected-utility framework. We consider two-, three-, four- and five-parameter density functions for portfolio returns and derive exact conditions under which investors would all be optimally plungers rather than diversifiers. Through comparative statics we show the importance of higher-order risk preference properties, such as riskiness, prudence and temperance, in determining plunging behaviour. Empirical estimates for the S&P500 provide evidence for the optimality of diversification.

I Can't Believe It's Not Bakhtin!: Literary Theory, Postmodern Advertising and the Gender Agenda

Taking the literary theories of Mikhail Bakhtin as a starting point, the authors offer three gendered readings of a postmodern advertisement for Moët & Chandon champagne. They commence with a discussion of the influence of gender on textual interpretation; continue with an outline of Bakhtin's key concepts, with particular reference to gender; present three contrasting readings of Moët's postmodern advertisement; and conclude with a discussion of their interpretations together with some reflexive reflections on the gender agenda. Though not claiming to offer a comprehensive introduction to Bakhtin, they do try to exemplify, in a quasi-carnivalesque mode of exposition, something of the character of that supremely gifted thinker and to demonstrate the insights his concepts provide in relation to gendered readings of advertising texts.