The transaction cost economics theory of the family firm: family-based human asset specificity and the bifurcation bias

We develop a transaction cost economics theory of the family firm, building upon the concepts of family-based asset specificity, bounded rationality, and bounded reliability. We argue that the prosperity and survival of family firms depend on the absence of a dysfunctional bifurcation bias. The bifurcation bias is an expression of bounded reliability, reflected in the de facto asymmetric treatment of family vs. nonfamily assets (especially human assets). We propose that absence of bifurcation bias is critical to fostering reliability in family business functioning. Our study ends the unproductive divide between the agency and stewardship perspectives of the family firm, which offer conflicting accounts of this firm type's functioning. We show that the predictions of the agency and stewardship perspectives can be usefully reconciled when focusing on how family firms address the bifurcation bias or fail to do so.

An open book: what and how young children learn from picture and story books

Looking at and listening to picture and story books is a ubiquitous activity, frequently enjoyed by many young children and their parents. Well before children can read for themselves they are able to learn from books. Looking at and listening to books increases children’s general knowledge, understanding about the world and promotes language acquisition. This collection of papers demonstrates the breadth of information pre-reading children learn from books and increases our understanding of the social and cognitive mechanisms that support this learning. Our hope is that this Research Topic/eBook will be useful for researchers as well as educational practitioners and parents who are interested in optimizing children’s learning. We conceptually divide this research topic into four broad sections, which focus on the nature and attributes of picture and story books, what children learn from picture and story books, the interactions children experience during shared reading, and potential applications of research into shared reading, respectively.

Rethinking the Russian Revolution as historical divide

This monograph is the product of a series of workshops held in the UK and the USA, the premise of which was to suggest that 1917 is the wrong departure point for a full analysis of the social and cultural particularities of the Soviet Union. Breaking away from the binary of ‘change and continuity’, however, we asked how the new and the old (tradition and modernity) came together to make the Soviet experience ‘across 1917’. Building on these workshops, we have gathered 15 scholars from America, Europe, Russia, and the Middle East to contribute to this edition. This volume examines, among other things, the social and cultural frameworks that helped determine Soviet perceptions of social duty, justice, and governance.

Orientalism and intelligence analysis: deconstructing Anglo-American notions of the ‘Arab’

Despite revived notions of a ‘cultural divide’ between East and West, Edward's Said's ‘Orientalism’ has received little attention from scholars of intelligence and diplomacy. This article brings to light for the first time a number of recently declassified documents of a different nature to usual assessments produced by Anglo-American analytic bodies: those focussed primarily on the issue of ‘national character’. Using and critiquing Said's thesis of Western ‘Orientalism’ it reveals some critical and enduring conceptualizations articulated by the diplomatic and intelligence community about Arab culture such as the role of Islam, rhetoric, political motivation and notions of ‘honour’. Such a critical approach demonstrates how diplomatic and intelligence history can also be a history of culture, ideas and institutional mentalité.

Fast and slow precipitation responses to individual climate forcers: a PDRMIP multi-model study

Precipitation is expected to respond differently to various drivers of anthropogenic climate change. We present the first results from the Precipitation Driver and Response Model Intercomparison Project (PDRMIP), where nine global climate models have perturbed CO2, CH4, black carbon, sulfate, and solar insolation. We divide the resulting changes to global mean and regional precipitation into fast responses that scale with changes in atmospheric absorption and slow responses scaling with surface temperature change. While the overall features are broadly similar between models, we find significant regional intermodel variability, especially over land. Black carbon stands out as a component that may cause significant model diversity in predicted precipitation change. Processes linked to atmospheric absorption are less consistently modeled than those linked to top-of-atmosphere radiative forcing. We identify a number of land regions where the model ensemble consistently predicts that fast precipitation responses to climate perturbations dominate over the slow, temperature-driven responses.