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1 – 10 of 206Marisol Carvajal-Camperos and Paloma Almodóvar
The purpose of this study is to identify papers that have produced the most significant impact on research on strategic alliances in the biotechnology industry. The authors…
Abstract
Purpose
The purpose of this study is to identify papers that have produced the most significant impact on research on strategic alliances in the biotechnology industry. The authors attempt to illustrate the thematic evolution of its intellectual structure through 616 papers published between 1992 and 2021.
Design/methodology/approach
The present research methodology relies on three distinct techniques, implemented using SciMat software: (1) bibliometric techniques, (2) scientific map analysis and (3) content analysis of research documents from the Web of Science (WoS). In this manner, the authors analyse the intellectual structure of the field of strategic alliances in the biotechnology industry, tracking its evolution over a period of three decades.
Findings
The study emphasises the relevance of “innovation” as a key theme and identifies several potential areas for future research, which could serve as a foundation for further investigations.
Originality/value
This study represents a novel contribution to the literature as it is the first to use the SciMat tool to analyse strategic alliances in the biotechnology industry. This research reveals that while strategic alliances have been assessed extensively across various industries, some topics, such as the types and formation of alliances, have not been specifically studied in the biotechnology industry. These areas as well as the barriers and variables influencing the formation of alliances offer promising avenues for future research in this field.
研究目的
本研究旨在確定對關於生物科技產業內的策略聯盟的探究產生極其顯著影響的學術論文。我們擬透過探討於1992年至2021年期間發表的616篇學術論文,去闡明策略聯盟的知識結構的主題演變。
研究設計/方法/理念
研究依賴三個不同的技術來進行,並以SciMat 可視化軟件來做具體實施的工作。這三個技術為、(一) 文獻計量技術;(二) 科學製圖分析;和 (三) 就取自 Web of Science 的學術文章而進行的內容分析。我們採用這研究法,對在生物科技產業內的策略聯盟的知識結構進行分析,俾能對有關的知識結構的主題演變進行一個涵蓋三十載的跟蹤調查。
研究結果
研究強調了創新,並視之為主要的主題的重要相關概念;研究亦確定了一些今後可供研究的潛在領域,這或許會成為進一步研究的基礎。
研究的原創性/價值
由於本研究是首個研究、使用SciMat這工具去分析在生物科技產業內的策略聯盟,故就有關的文獻而言,它給予新穎的貢獻。研究結果顯示,雖然策略聯盟已在各個不同的產業裡被廣泛評價,但在生物科技產業裡,一些如聯盟的種類和形成方式等的課題仍未得到適切的研究。這些課題,以及影響著聯盟的形成的障礙和變數,會為這領域內今後的學術研究、提供光明的途徑。
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Fahad Khalid, Khwaja Naveed, Cosmina Lelia Voinea, Petru L. Curseu and Sun Xinhui
Given the regional diversity in China, this study aims to provide an empirical evaluation of how organizational stakeholders (i.e. customers, employees, suppliers and…
Abstract
Purpose
Given the regional diversity in China, this study aims to provide an empirical evaluation of how organizational stakeholders (i.e. customers, employees, suppliers and shareholders) affect corporate environmental sustainability investment (ESI).
Design/methodology/approach
To empirically investigate the influence of organizational stakeholders on ESI, this study used regional-level data consists of Chinese A-share stocks for the years 2009–2019.
Findings
This study’s findings show that pressure from customers, employees and suppliers has a significant effect on corporate ESI, with customers being the most important stakeholder group. Shareholders, by contrast, have no significant influence on ESI. The influence of these pressures is more pronounced in developed regions (the east) than in less developed (the west) localities of China.
Research limitations/implications
This study complements the stakeholder–institutional perspective by implying to consider the differentiated logics of the contesting stakeholders in the nonmarket operations.
Practical implications
Practically, this study poses that managers must realize the heterogeneity of pressures from stakeholders and the differentiated impact of these pressures keeping in view the institutional differences in different regions.
Originality/value
Our study reports initial empirical evidence that shows how regional differences influence the role of stakeholders in determining corporate environmental strategy.
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Many studies have analysed the impact of various variables on the ability of companies to raise capital. While most of these studies are sector-agnostic, literature on the effects…
Abstract
Purpose
Many studies have analysed the impact of various variables on the ability of companies to raise capital. While most of these studies are sector-agnostic, literature on the effects of macroeconomic variables on sectors that established over the last 20 years like property technology and financial technology, is scarce. This study aims to identify macroeconomic factors that influence the ability of both sectors and is extended by real estate variables.
Design/methodology/approach
The impact of macroeconomic and real estate related factors is analysed using multiple linear regression and quantile regression. The sample covers 338 observations for PropTech and 595 for FinTech across 18 European countries and 5 deal types between 2000–2001 with each observation representing the capital invested per year for each deal type and country.
Findings
Besides confirming a significant impact of macroeconomic variables on the amount of capital invested, this study finds that additionally the real estate transaction volume positively impacts PropTech while the real estate yield-bond-gap negatively impacts FinTech.
Practical implications
For PropTech and FinTech companies and their investors it is critical to understand the dynamic with mac-ro variables and also the real estate industry. The direct connection identified in this paper is critical for a holistic understanding of the effects of measurable real estate variables on capital investments into both sectors.
Originality/value
The analysis fills the gap in the literature between variables affecting investment into firms and effects of the real estate industry on the investment activity into PropTech and FinTech.
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Oscar F. Bustinza, Luis M. Molina Fernandez and Marlene Mendoza Macías
Machine learning (ML) analytical tools are increasingly being considered as an alternative quantitative methodology in management research. This paper proposes a new approach for…
Abstract
Purpose
Machine learning (ML) analytical tools are increasingly being considered as an alternative quantitative methodology in management research. This paper proposes a new approach for uncovering the antecedents behind product and product–service innovation (PSI).
Design/methodology/approach
The ML approach is novel in the field of innovation antecedents at the country level. A sample of the Equatorian National Survey on Technology and Innovation, consisting of more than 6,000 firms, is used to rank the antecedents of innovation.
Findings
The analysis reveals that the antecedents of product and PSI are distinct, yet rooted in the principles of open innovation and competitive priorities.
Research limitations/implications
The analysis is based on a sample of Equatorian firms with the objective of showing how ML techniques are suitable for testing the antecedents of innovation in any other context.
Originality/value
The novel ML approach, in contrast to traditional quantitative analysis of the topic, can consider the full set of antecedent interactions to each of the innovations analyzed.
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Mpinda Freddy Mvita and Elda Du Toit
This paper aims to explore the effect of female’s presence in corporate governance structures to reduce agency conflicts, using a quantile regression approach.
Abstract
Purpose
This paper aims to explore the effect of female’s presence in corporate governance structures to reduce agency conflicts, using a quantile regression approach.
Design/methodology/approach
The research investigates the relationship between company performance and boardroom gender diversity using quantile regression methods. The study uses annual data of 111 companies listed on the Johannesburg Stock Exchange from 2010 to 2020.
Findings
The study reveals that women on the board impact firm return on assets and enterprise value, varying across performance distribution. This contrasts fixed effect findings but aligns with two-stage least squares. However, quantile regression indicates that female executives and independent non-executive directors have notably negative impacts in high and low-performing companies, highlighting non-uniformity in the board gender diversity effect compared with previous assumptions.
Practical implications
The empirical findings suggest that companies with no women directors on the board are generally more likely to experience a decrease in performance and enterprise value relative to companies with women directors on the board. As recommended through the King Code of Corporate Governance, it is thus valuable to companies to ensure gender diversity on the board of directors.
Originality/value
The research confirms through rigorous statistical analyses that corporate governance policies, principles and guidelines should include gender diversity as a requirement for a board of directors.
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Domenico Rocco Cambrea, Fabio Quarato, Giorgia Maria D'Allura and Francesco Paolone
The purpose of the paper is to examine the effect of chief executive officer (CEO) succession on environmental, social and governance (ESG) performance and whether the…
Abstract
Purpose
The purpose of the paper is to examine the effect of chief executive officer (CEO) succession on environmental, social and governance (ESG) performance and whether the characteristics of the incoming CEO, in terms of both gender and career horizon, are able to affect the relationship between CEO succession and ESG score.
Design/methodology/approach
The paper investigates a sample of European-listed companies between 2010 and 2021. Difference-in-difference and fixed-effects regressions are employed as the base empirical methodology. In addition, the robustness of the empirical findings is assessed by employing alternative methodologies and a different ESG proxy.
Findings
The empirical findings show the existence of a positive link between CEO succession and ESG performance and that this relationship is affected by two characteristics of the incoming CEO. Specifically, the empirical evidence indicates that the positive effect is magnified by the gender and the career horizon of the incoming CEO.
Originality/value
Considering the lack of research, this paper is the first one that opens a debate about the effects of CEO succession on corporate ESG performance in several European countries. By employing a unique sample of European listed firms, which has never been examined in other empirical research, this study highlights the importance of the demographic features of the incoming CEOs that should be taken into consideration during their selection process.
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Fernanda Cigainski Lisbinski and Heloisa Lee Burnquist
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and…
Abstract
Purpose
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.
Design/methodology/approach
A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.
Findings
The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.
Research limitations/implications
Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.
Originality/value
A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.
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This study delves into the nuanced implications of short-sale constraints on stock prices within the context of stock market efficiency. While existing research has explored this…
Abstract
Purpose
This study delves into the nuanced implications of short-sale constraints on stock prices within the context of stock market efficiency. While existing research has explored this relationship, inconsistencies persist in their findings. The purpose of this study is to conduct a comprehensive review of literature to elucidate the reasons behind these disparities.
Design/methodology/approach
A systematic review of existing theoretical and empirical studies was conducted following the PRISMA method. The analysis centered on discerning the factors contributing to the divergence in projected stock prices due to these constraints. Key areas explored included assumptions related to expectations homogeneity, revisions, information uncertainty, trading motivations and fluctuations in supply and demand of risky assets.
Findings
The review uncovered multifaceted reasons for the disparities in findings regarding the influence of short-sale constraints on stock prices. Variations in assumptions related to market expectations, coupled with fluctuations in perceived information uncertainty and trading motivations, were identified as pivotal factors contributing to differing projections. Empirical evidence disparities stemmed from the use of proxies for short-sale constraints, varied sample periods, market structure nuances, regulatory changes and the presence of option trading.
Originality/value
This study emphasizes the significance of not oversimplifying the impact of short-sale constraints on stock prices. It highlights the need to understand these effects within the broader context of market structure and methodological considerations. By delineating the intricate interplay of factors affecting stock prices under short-sale constraints, this review provides a nuanced perspective, contributing to a more comprehensive understanding in the field.
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Henri Hussinki, Tatiana King, John Dumay and Erik Steinhöfel
In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also…
Abstract
Purpose
In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also discuss the intervening developments in scholarly research, standard setting and practice over the past 20+ years to outline the future challenges for research into accounting for intangibles.
Design/methodology/approach
We conducted a literature review to identify past developments and link the findings to current accounting standard-setting developments to inform our view of the future.
Findings
Current intangibles accounting practices are conservative and unlikely to change. Accounting standard setters are more interested in how companies report and disclose the value of intangibles rather than changing how they are determined. Standard setters are also interested in accounting for new forms of digital assets and reporting economic, social, governance and sustainability issues and how these link to financial outcomes. The IFRS has released complementary sustainability accounting standards for disclosing value creation in response to the latter. Therefore, the topic of intangibles stretches beyond merely how intangibles create value but how they are also part of a firm’s overall risk and value creation profile.
Practical implications
There is much room academically, practically, and from a social perspective to influence the future of accounting for intangibles. Accounting standard setters and alternative standards, such as the Global Reporting Initiative (GRI) and European Union non-financial and sustainability reporting directives, are competing complementary initiatives.
Originality/value
Our results reveal a window of opportunity for accounting scholars to research and influence how intangibles and other non-financial and sustainability accounting will progress based on current developments.
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Runze Ling, Ailing Pan and Lei Xu
This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing…
Abstract
Purpose
This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.
Design/methodology/approach
We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.
Findings
The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.
Originality/value
This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.
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