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Expert briefing
Publication date: 21 December 2023

The theme it has chosen for its chairmanship is ‘enhancing connectivity and resilience’. The reference to ‘resilience’ is apt, as Laos is attempting to manage severe economic…

Article
Publication date: 3 January 2024

HyunJun Na

This study examines the impact of the US government customer concentration and product innovation in supplier firms. The US government customer concentration is defined as the…

Abstract

Purpose

This study examines the impact of the US government customer concentration and product innovation in supplier firms. The US government customer concentration is defined as the proportion of sales made by a supplier firm to the US government as a major customer. To measure product innovation, the author uses two key metrics: the number of patents and the novelty of the patents. The results indicate that a supplier firm’s relationship with the US government, as measured by the tenure of the relationship, has a significant impact on product innovation. Furthermore, the author shows that changes in the composition of the US government, Senate can also affect the level of innovation in supplier firms.

Design/methodology/approach

This study employs the Compustat’s Segment Customer database and the National Bureau of Economic Research (NBER) Patent Citation database to gather information regarding patents granted by the United States Patent and Trademark Office (USPTO). The author also incorporates data from US Congressional committees from the 96th to 115th Congresses to assess the effect of changes in seniority of US senators on influential committees on the firm’s innovation. For a robustness test, the author utilizes a propensity score matched analysis.

Findings

The author demonstrates that a firm’s dependence on the US government as a customer channel for an extended period negatively impacts the firm’s innovation efficiency, as measured by the number of patents, citations and novelty of the patents. In addition, the author provides evidence that changes in the seniority of US senators on influential committees have a significant impact on firms located in the same state as the new senior senators. These firms decrease innovative efforts due to the political connections, resulting in lower levels of innovation. These findings are robust after controlling the endogeneity issues. In conclusion, this study contributes to the existing literature by offering insight into the relationship between customer concentration and firm innovation. The findings highlight the importance of considering the relationship between firms and their customer base in determining innovation outcomes.

Originality/value

This study demonstrates that a heavy reliance on the US government as a customer channel has a detrimental impact on a firm’s innovation efficiency. Furthermore, the author analyzes the exogenous shock of changes in the seniority of US senators on the relationship between customer dependence and innovation. By utilizing a propensity matched sample, the author addresses endogeneity concerns and provides robust evidence for empirical findings. In conclusion, this study sheds light on the complex relationship between customer dependence and firm innovation, particularly in the context of the US government as a sales channel.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

Expert briefing
Publication date: 1 February 2024

Myanmar’s junta for the first time accepted the invitation to have a ‘non-political’ representative at high-level ASEAN meetings, standing since its exclusion from such events…

Article
Publication date: 15 November 2022

Peter M. Krysta, Janina Jauch-Degenkolb and Dominik K. Kanbach

Facing increased asset prices and growing competition, private equity firms needed to innovate their established business model and shift from focusing on financial engineering to…

Abstract

Purpose

Facing increased asset prices and growing competition, private equity firms needed to innovate their established business model and shift from focusing on financial engineering to creating operating value. Yet, the authors understand little about how private equity firms increase the value of companies in their portfolios. This paper aims to shed light on organizational strategies, activities and governance principles that private equity firms use to create value.

Design/methodology/approach

This investigation combines several qualitative research approaches. Using in-depth interviews with executives in 35 private equity firms, the authors define industry-specific design principles for value creation using a Gioia methodology. They then use the Eisenhardt methodology to make in-depth case comparisons among sample firms.

Findings

Private equity firms employ one of four strategies – labeled “Infiltrator,” “Consultant,” “Organizer” or “Investor” – to create value in portfolio companies, each with a different organizational structure, level of cooperation between investor and portfolio firm and specific configuration of design elements.

Originality/value

To the best of the authors’ knowledge, this study is the first to focus on private equity value creation strategies from an organizational perspective. To their knowledge, no other publication has tapped this deeply into the interface between the private equity firm and the portfolio company to define the exact approach taken by the firm. This study contributes to the emerging discussion around the nonfinancial inputs to value creation. In addition, this qualitative research design is underrepresented in private equity research.

Details

Journal of Business Strategy, vol. 44 no. 6
Type: Research Article
ISSN: 0275-6668

Keywords

Article
Publication date: 15 March 2024

Phebe Hassana Obaka, Seyi Julian Adelegan and Leonard Shaibu

The level of deterioration of educational facilities, such as leaking classroom roofs, inadequate good seats, obsolete offices, broken shutters and doors, outdated school…

Abstract

Purpose

The level of deterioration of educational facilities, such as leaking classroom roofs, inadequate good seats, obsolete offices, broken shutters and doors, outdated school buildings, power plants and office equipment like ICT media, laboratories, offices and workshops, despite the involvement of Alumni association in the maintenance of educational facilities for the effective actualization of school objectives was a worrisome nightmare in Kogi state. This, therefore, prompted the researchers to explore the Alumni’s participation in plant maintenance for effective implementation of the universal basic education (UBE) programme in public junior secondary schools in Kogi state. The purpose of this study was guided by the research question which stated that to what extent does the Alumni Association participate in plant maintenance for effective implementation of the UBE programme in public junior secondary schools in Kogi state?

Design/methodology/approach

A quantitative research approach using a descriptive survey was adopted for the study. The sample was drawn using a proportionate stratified sampling technique comprising 387 participants which consisted of 191 (49%) urban junior secondary school principals and 196 (51%) rural principals in selected UBE junior secondary schools. Alumni’s Participation in Plant Maintenance Questionnaire was used as an instrument for data collection. The data were analysed with the aid of mean and standard deviation for the research question and z-test statistics at 0.05 level of significance and the value of z-crit. of 1.96 was used to determine the rejection or otherwise of the hypotheses.

Findings

The descriptive analysis revealed that the average mean set of 2.64 pointed to the fact that the respondents averagely agreed that there was a high extent to which Alumni participate in plant maintenance in urban than rural areas for effective implementation of the UBE programme in public junior secondary schools in Kogi state. This indicates that Alumni contribute to the management of UBE schools in Kogi state, especially in the areas of funding, infrastructural facilities, discipline, politics and quality control. This finding also shows that the contributions of the alumni to educational institutions are still unclear if they have made contributions to education in some areas and none in other areas making their relevance to plant maintenance unclear.

Research limitations/implications

In terms of practical implications, the study has contributed to knowledge in that it is the first of this form of a study carried out in Kogi state, and as such the findings of the research will make contributions to the physique of information on plant maintenance for the profitable implementation of the UBE programme in Kogi state. Besides, the degree of plant preservation for the implementation of the UBE programme among applicable stakeholders in Kogi state is nevertheless at a low extent.

Originality/value

Researchers have conducted studies that show how non-state Alumni members contribute to the administration of education across different states. Some of these studies revealed that Alumni members have assisted schools in the provision of teaching and learning materials at the senior secondary or tertiary education level. There are no sufficient studies to show how these Alumni members have contributed to the implementation of the free education programme, especially in public junior secondary schools in Kogi state and this is the gap this study intends to fill.

Details

Facilities , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-2772

Keywords

Executive summary
Publication date: 22 February 2024

WEST AFRICA: ECOWAS may end embargo on Niger

Details

DOI: 10.1108/OXAN-ES285429

ISSN: 2633-304X

Keywords

Geographic
Topical
Executive summary
Publication date: 1 December 2023

SRI LANKA: Deal brings key IMF approval closer

Details

DOI: 10.1108/OXAN-ES283743

ISSN: 2633-304X

Keywords

Geographic
Topical
Executive summary
Publication date: 4 October 2023

EGYPT: Authorities forced to reckon with Congress

Details

DOI: 10.1108/OXAN-ES282405

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 18 August 2023

Yahya Mohammed Al-Sayani, Ebrahim Mohammed Al-Matari, Mohamad Naimi Mohamad Nor, Noor Afza Amran and Mohammed Ahmed Alsayani

The purpose of this study is to look at the structure of the interactions between the board of directors’ chairman qualities such as chairman independence, tenure, ethnicity, age…

Abstract

Purpose

The purpose of this study is to look at the structure of the interactions between the board of directors’ chairman qualities such as chairman independence, tenure, ethnicity, age- and impression management (IM).

Design/methodology/approach

The research population consists of non-financial Malaysian companies listed on Bursa Malaysia’s Main Market, using data gathered via annual reports and DataStream. The study relies on the ordinary least square regression to test the direct relationships between the directors’ chairman characteristics and IM. Moreover, robustness and sensitivity tests were used to examine the effectiveness of chairman characteristics with IM. Furthermore, the results rely on the FGLS regression as an additional test. The study found that chairman independence, chairman ethnicity and chairman age have a significant impact on IM.

Findings

The results reveal that chairman independence has a negative association with qualitative IM (IMSC1). Moreover, chairman ethnicity has a positively significant relationship with qualitative IM (IMSC1) and quantitative IM (IMSC2). Also, the effectiveness of chairman characteristics has a negative and significant association with IMSC1.

Originality/value

The primary goal of this paper is to fill a gap in the literature and to open up opportunities for more in-depth research on the subject. So far, there has been no research into the impact of the board chairman’s (BC) personality on IM. This study serves as a warning to policymakers, businesses and their stakeholders, as well as researchers, about the importance of BC characteristics, which may impede the effectiveness of corporate governance mechanisms. The paper provides a framework for investigating these characteristics in the context of IM.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 30 October 2023

Ibrahim Nandom Yakubu, Ayhan Kapusuzoglu and Nildag Basak Ceylan

This study seeks to empirically examine the influence of corporate governance on corporate performance in Ghana.

Abstract

Purpose

This study seeks to empirically examine the influence of corporate governance on corporate performance in Ghana.

Design/methodology/approach

The study employs data from 30 listed firms spanning from 2008 to 2018 and applies the generalized method of moments technique. The authors use economic value added, shareholder value added (SVA) and economic margin (EM) as measures of corporate performance.

Findings

The findings reveal that the presence of both inside directors and outside (nonexecutive) directors significantly improves corporate performance, lending credence to both the stewardship theory and the agency theory. The inclusion of women on the corporate boards and frequent meetings of the board reduce the economic profits of firms. The authors find that CEO duality impedes corporate performance, supporting the presumption of the agency theory. The study further reveals that audit committee size and ownership concentration positively drive the performance of quoted firms in Ghana.

Originality/value

Prior studies on corporate governance and firm performance nexus have chiefly adopted traditional accounting-based performance measures such as return on assets and return on equity to evaluate firm performance. However, these indicators are critiqued for being historic and fail to consider firms' cost of equity. In light of the shortcomings of the accounting-based proxies, this study takes a unique direction by using value-based metrics, which are considered superior measures of performance. Besides, to the best of the authors' knowledge, this study provides a first attempt to investigate the link between corporate governance and firm performance using SVA and EM as performance indicators.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

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