Make, Buy, or Ally? — A Configurational Approach to Governance Choices in Vertical Expansion

Firms expand their vertical boundaries by obtaining ownership of relevant resources. There are three means by which firms can achieve this goal: internal development, mergers and acquisitions (M&A), and equity joint venture. From a transaction cost economics and resource-based view perspective, this study analyzed how resource characteristics, environmental conditions, and firms’ capabilities influence their governance choices. By studying 30 cases involving architectural, engineering, and construction (AEC) firms and employing a fuzzy-set qualitative comparative analysis (fs-QCA) method, the findings of this study reveal that firms did not use configurational approaches when choosing to adopt one strategy over another. Rather, firms avoid to choose certain mean in a configurational approach. All the antecedents jointly influenced firms’ governance choices; however, they did so in a way that led to the firms’ rejection as opposed to implementation of one strategy. The results indicated that firms’ relational capabilities could help them handle external transaction costs and help them identify and exclude strategies with the lowest efficiency. The findings revealed that firms did not choose internal development to avoid high internal transaction costs or expand rapidly into new business. Firms excluded M&A when the similarity between new and existing resources was high to avoid resource redundancy; when market uncertainty was high, they did so to avoid investment risks. Moreover, when high external transaction costs were evident due to interactions and interdependency between firms and their partners, firms tended to choose a more integrated strategy and excluded equity joint venture

Dynamic characterization, monitoring and control of rotating flexible beam-mass structures via piezo-embedded techniques

A variational principle and a finite element discretization technique were used to derive the dynamic equations for a high speed rotating flexible beam-mass system embedded with piezo-electric materials. The dynamic equation thus obtained allows the development of finite element models which accommodate both the original structural element and the piezoelectric element. The solutions of finite element models provide system dynamics needed to design a sensing system. The characterization of gyroscopic effect and damping capacity of smart rotating devices are addressed. Several simulation examples are presented to validate the analytical solution

Embracing Imperfection: Contemporary Fashion Communication and Consumer Well-Being

Purpose Fashion advertising as a contemporary ideological form has the power to deliver semiotic messages, which frames individuals' perception. Promoting perfection in consumer culture has resulted in the creation of unrealistic self-image and negative effects that led to psychological illnesses and pathological behaviours. The purpose of this paper is to investigate the ideology behind the contemporary fashion advertising that embraces imperfection and is linked to consumer subjective well-being. Design/methodology/approach Nine fashion ads were selected based on the WGSN consumer report Embracing Imperfection. A sample of images was analysed applying semiotic analysis combined with the criteria of content analysis. Findings The results supported the notion that some contemporary fashion communication brands are challenging the conventional idea of perfection. Five themes were identified as the characteristics that bridged the visual surface of advertising with its hidden ideologies of imperfection. By supporting “anonymity”, fashion brand communication is against excessive self-focus and helps reducing anxiety due to being imperfect. By promoting “rawness”, it encourages authenticity and uniqueness. “Banality” rejects materialism and promotes the beauty of the boring day. “Ugliness” advocates for removal of the single standards and celebrate individual differences, and “spontaneity” is interchangeable for humanity, freedom, openness and acceptance of self. Originality/value This study is among the few attempts to conduct semiotic analysis of fashion advertising images aiming to identify the visual components and ideologies that could potentially be linked to subjective well-being in fashion communication