Purpose -The purpose of this paper is to advance the understanding of the relationship between firm-level governance mechanisms and firm performance using a contingency framework. The contingency framework is based on an integration of agency theory, stewardship theory, resource dependence theory and stakeholder theory of firm governance. Design/methodology/approach -The authors test the arguments on a sample of all the listed firms on the New Zealand Stock Exchange between 2004 and 2007. Given the longitudinal nature of the data, the authors employ random effects, generalized least square estimation to run the regression models. Findings -The authors find that the presence of internal directors, CEO duality, board size and presence of professional directors leads to superior firm performance. A lack of ownership concentration leads to agency problems resulting in inferior performance. However, the positive effect of board independence on firm performance reduces in firms that have a high-ownership concentration. Additionally, a high-ownership concentration attenuates the positive effects of board size and board competence. Originality/value -This study helps reconcile some of the conflicting findings on firm governanceperformance relationship. As the findings suggest, the effectiveness of a particular governance mechanism (such as board members) may depend on the presence or absence of another governance mechanism (such as ownership concentration). The integrative, multi-theoretic model that the authors propose in this paper is a unique contribution to the governance literature.

The coauthors wish to acknowledge the contribution of the entire X-Culture team: Without the hard work the 141 instructors and thousands of students do every day, the X-Culture Project in general and this study in particular would not be possible. We also would like to acknowledge the support of our many corporate partners, including Gramedia, Lidaris, Innospark, and Caja de Burgos, whose involvement makes the project more meaningful and educational for our students.

With the increased reliance on diverse markets in multi-cultural contexts, the role that similarity can play in the relationship between a salesperson and a buyer is receiving increased attention. Similarity is regarded as the cornerstone of positive communications, and salespeople rely on the trust that can be created by this recognition of likeness. However, there are different types of similarity and not all have an equal bearing on the salesperson-buyer relationship. In this study, we examine similarity in appearance, similarity in lifestyle and similarity in status. Most studies go no further than examining the effect of similarity on a buyer's satisfaction with a salesperson, and to date there appear to be few studies relating to the effect of similarity on satisfaction with a firm. This study examines the effect of similarity on a buyer's sense of satisfaction with a firm represented by a salesperson in the banking context. The results of the study show that appearance similarity and status similarity have a significant effect on the salesperson-buyer relationship, whereas lifestyle similarity has no effect. The buyer's satisfaction with a salesperson is found to mediate the relationship between similarity in appearance and the buyer's satisfaction with a firm. In this article, we discuss these findings and look at their implications for both research and practice. Findings of the study are particularly important because of New Zealand's increasing interaction with Asia and its people, which have transformed New Zealand to become a multi-cultural and multi-ethnic country.

Purpose – The purpose of this study is to identify the main cultural factors that influence Latin American consumers’ intentions to purchase US brands. Although culture and cultural orientation have been well researched in international business and marketing literature, there is a lack of research on the relationship between consumers’ cultural orientation and their bias towards foreign and domestic products. Design/methodology/approach – The paper reviews the extant literature with a particular emphasis on the key constructs of consumer ethnocentrism, consumer xenocentrism, conspicuous consumption and consumers’ national characteristics. Based on this review, the authors propose a conceptual model showing the influence of cultural orientation on the selection of US brands in Latin America. Findings – The review of the literature shows that previous studies support the proposition of cultural orientation and preferences for foreign versus domestic products among Latin American consumers. Accordingly, in their conceptual framework, the authors posit that consumer ethnocentrism negatively influences the selection of US brands, while xenocentrism does the opposite. Conspicuous consumption is posited as moderating the influence of consumer xenocentrism on purchase intentions of the US brands. On the other hand, national characteristics of consumers in Latin America are posited as moderating the influence of both consumer ethnocentrism and consumer xenocentrism on the selection of US brands. Practical implications – The authors also present important theoretical and practical implications that contribute to the growing body of research on consumer acculturation and country of origin effects, providing a better interpretation of consumer behaviour in the context of international and domestic markets. Originality/value – This study fills a significant gap in the understanding of the impact of cultural orientation and conspicuous consumption on selection of US brands in Latin America. Its conceptual framework can provide the basis for future empirical studies and also improve understanding of emerging markets.

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