The Journal of Management and Organization (JMO) is the journal of the Australian and New Zealand Academy of Management. It is an international journal publishing work of global authors but has a distinct Australian and New Zealand heritage based on cultural and social pursuits. This means it is important to highlight how Australian and New Zealand management research has developed over the years and to acknowledge its uniqueness in global academia. This editorial focuses on JMO 2026 in terms of addressing needs to further ponder how values and context influences management research and practice. The role of research contexts and policy are discussed with the goal of enabling a future research agenda that specifically combines an Australian and New Zealand mindset.

This paper develops a unified framework for catastrophe (CAT) bond pricing that integrates distortion operator theory with recurrent neural network (RNN) estimation. A novel peer-adjusted distortion factor is introduced, constructed from both the Wang transform and the jump-diffusion (JD) distortion operator, and calibrated using the market-weighted spread of comparable CAT bonds together with the target bond’s expected loss. This factor embeds prevailing investor sentiment, reinsurance capacity, and market liquidity into the distortion measure, enabling consistent pricing inference even when the bond’s own spread is unobserved. Empirically, the JD distortion model systematically outperforms both the canonical Wang transform and the raw expected loss in in-sample and out-of-sample tests, capturing discontinuous repricing and tail-risk compensation with greater precision. Extending the framework to a multifactor specification that combines actuarial fundamentals with financial-market covariates further enhances explanatory and predictive performance. From a methodological perspective, the RNN serves as a structural estimator for the parameters of the distortion operators, achieving higher accuracy, stability, and computational efficiency than conventional approaches such as MLE, GMM, or ensemble regressors. By unifying distortion operators with neural estimation, this study advances both the methodological and empirical foundations of CAT bond pricing within actuarial science.

Clara Nunes (1942–1983) was one of the most renowned and successful female samba singers in Brazilian history. This article offers new interpretations of the term transposition in the analysis of how Nunes racially transformed her image and sound to fit the discourse of Brazilian mestiçagem, or race mixture, during the military dictatorship (1964–1985). Through the folklorization of Afro-Brazilian religions and traditions placed onto and voiced from her body, transposition offers a useful analytic to further understand her performance of mestiçagem as racial and gendered excess, lending itself to a queer reading. The queer potential of transposition is compounded by the legacy of black drag queens performing impersonations of Nunes following her early death to enact a sense of belonging to the Brazilian nation.

This study investigates the relationship between consumers’ fiscal and inflation expectations using granular survey data. After applying various methods to reduce endogeneity bias and providing several robustness checks, we show that consumers’ fiscal expectations positively affect their inflation expectations. Moreover, we demonstrate that this link is nonlinear and becomes stronger with the deterioration of the fiscal stance, particularly in response to increases in consumer expectations regarding future fiscal expansions. This novel empirical finding is especially relevant from both fiscal and monetary policy perspectives.

The Economic Society of Guatemala was a late colonial organization that sought to introduce “enlightened” reforms to colonial Guatemala. At first approved by the Spanish Crown, the society presented papers that were at odds with Spain’s colonial system, especially one on why Indians should be allowed to wear European clothing. In response, the Crown ordered the society closed. This article explores the threat that the society posed to established interests in both Spain and the Americas, and it utilizes previously undisclosed primary documents in which the Crown charged the society with violating numerous laws as spelled out in the Recopilación de las Leyes de los Reynos de las Indias, first published in 1680. While the society was closed in 1800, its work influenced future liberal regimes throughout Latin America.

Sovereigns issue debt on both domestic and foreign markets and when they default, they default mostly selectively. We propose a theory to rationalize these observations. A government chooses the optimal combination of two debts to smooth consumption, which is subject to output shock and volatile tax distortions. In equilibrium, it mostly relies on domestic debt to smooth the tax wedge and on foreign debt to smooth the output shock. Issuing either debt is less costly than raising taxes, but it is subject to default risk due to the government’s limited commitment. A quantitative, calibrated model with two shocks and two debts replicates well debt-to-GDP ratios, default frequencies, cyclical properties of emerging economies and behavior of aggregates around default episodes.

We provide new evidence on U.S. monetary policy spillovers to Australia using an integrated time–frequency connectedness framework. Spillovers primarily transmit through the interest rate (policy rate) channel, followed by the asset price (with the consumer discretionary sector as the main conduit) channel and the exchange rate channel. Spillovers are highly time-varying, peaking at the onset of COVID-19 and again during the global financial crisis and the European sovereign debt crisis. Linking these spillovers to the real economy, we show that an identified U.S. tightening is followed by a tightening in Australia’s monetary policy stance and generates contractionary and disinflationary effects on Australian output and inflation, consistent with transmission via imported financial conditions and the domestic policy reaction. Finally, we show that ignoring spillovers yields a price puzzle under recursive VAR identification, while using spillover-based surprises as external instruments removes the puzzle and recovers theory-consistent responses.

This paper argues that the current UK fiscal framework fails to support growth-enhancing public investment while inadequately restraining debt accumulation. Frequent changes to fiscal rules, their short horizon and incentives that prioritise current spending over long-term investment have undermined economic stability and productivity growth. We propose a reformed framework centred on clear fiscal objectives, enhanced OBR analysis of long-run sustainability and a target for the primary surplus consistent with maintaining stable debt. A supplementary investment rule would ensure adequate public capital formation. Together, these reforms aim to raise productivity, support resilience and improve living standards.

This article, which relies on underutilized archival collections as well as oral histories, is one of the first comprehensive examinations of the feminist struggle to decriminalize abortion during Brazil’s transition to democracy during the 1980s. We discuss how the consolidation of the antiabortion Christian right and its proximity to several political parties, including ones on the left, coupled with the politically moderate tone of the transition from dictatorship to democracy, constrained the space in which Brazilian feminists could make radical demands of the state. Moreover, we contend that although the creation of the state-funded feminist organ Conselho Nacional dos Direitos da Mulher in 1985 brought important visibility to feminist issues and inserted the movement’s agenda squarely within the government apparatus, it also fragmented feminists, threatened co-optation by the state, and ultimately compelled abortion rights activists to prioritize the more palatable strategy of expanding access to therapeutic abortions, which were already permitted by law. In addition to divergences in political strategy, feminists struggled to create multiracial and multiclass coalitions during this period, when many Black feminists and working-class women were organizing around other concerns. As a result, feminists were not able to fundamentally alter public opinion about the political importance of abortion, and their efforts to enshrine the termination of pregnancy as a human right in the 1988 Constitution were unsuccessful.