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1 – 10 of over 51000Martin Krzywdzinski and Hyung Je Jo
Building on neo-institutionalism models of the transfer of human resource management (HRM) practices within multinational companies, this paper aims to analyze the transfer of…
Abstract
Purpose
Building on neo-institutionalism models of the transfer of human resource management (HRM) practices within multinational companies, this paper aims to analyze the transfer of skill formation concepts using the cases of two automotive OEMs in Slovakia. The purpose of the paper is twofold. First, it aims to explain the differences between the two multinationals. Second, it builds on the empirical analysis to reconsider the neo-institutionalist theoretical framework.
Design/methodology/approach
The paper is based on two qualitative case studies of automotive multinationals in Slovakia. The home country locations of both companies represent different approaches to skill formation: systematic vocational education for blue-collar workers is regarded as crucial at the German manufacturer, while the Korean company relies mainly on on-the-job-training and puts much less emphasis on skilled blue-collar work.
Findings
The paper shows that the differences between the companies are related to different understandings of technology/automation. It argues that the increasing automation and the decentralization of responsibilities for the product-launch processes supported the transfer of German skill formation concepts to the plant in Slovakia, while the Korean manufacturer’s specific engineering-led automation concept and centralization of product launch responsibilities in its Korean headquarters reduced the need to invest in skill formation for blue collars abroad. The paper concludes that theories of the transfer of HRM practices within multinationals must include technological factors and must also develop more specific concepts of the centralization of multinationals.
Originality/value
The paper is to the knowledge the first to include technology as a core variable into the neo-institutionalist theory in the field of international business and HRM. While the relationship between technology and organization has gained huge prominence in the recent discussions about digitalization, it has been so far neglected by scholars of international business.
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The purpose of this paper is to examine academic literature and business regulation for company formation in Estonia in relation to small to medium‐sized enterprises (SMEs). It is…
Abstract
Purpose
The purpose of this paper is to examine academic literature and business regulation for company formation in Estonia in relation to small to medium‐sized enterprises (SMEs). It is an example of a country which is a new member of the expanded European Union (EU) and its regulation.
Design/methodology/approach
This exploratory paper makes use of World Bank Surveys, primary business law sources together with an interview from a business within the country assessed giving a grass‐roots perspective.
Findings
The investigation reaffirms the importance of SMEs within transitional economies from a Soviet background such as Estonia because of the Socialist black hole. It also emphasizes the correlation between SME development and business law and the significance and key aspects of company formation for an SME. Furthermore, transition economies like Estonia have complied with EU directives for company formation and advanced within the regulation process quickly. However, it is still more difficult for a person or entity from another EU Member State to form a company in Estonia.
Practical implications
This research demonstrates that compliance on EU regulation for company formation by a new EU member has been provided for within the regulation of the wording. It also indicates that for an entity from another EU state (other than Estonia) it is slightly more difficult to form a company. Unofficial costs, a legacy from the Soviet period are almost non‐existent within the Estonian company registration system. Some of the gaps within the World Bank Surveys are filled by the interview, although further evaluation is needed from other academics.
Originality/value
The research highlights the importance of company formation for SMEs, the compliance of a new EU Member State with EU directives, and the reality of company formation regulation for an SME in Estonia.
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Kristina Heinonen, Tore Strandvik and Päivi Voima
The purpose of this paper is to extend current discussions of value creation and propose a customer dominant value perspective. The point of origin in a customer‐dominant…
Abstract
Purpose
The purpose of this paper is to extend current discussions of value creation and propose a customer dominant value perspective. The point of origin in a customer‐dominant marketing logic (C‐D logic) is the customer, rather than the service provider, interaction or the system. The focus is shifted from the company's service processes involving the customer, to the customer's multi‐contextual value formation, involving the company.
Design/methodology/approach
Value formation is contrasted to earlier views on the company's role in value creation in a conceptual analysis focusing on five central aspects. Implications of the proposed characteristics of value formation compared to earlier approaches are put forward.
Findings
The paper highlights earlier hidden aspects on the role of a service for the customer. It is proposed that value is not always an active process of creation; instead, value is embedded and formed in the highly dynamic and multi‐contextual reality and life of the customer. This leads to a need to look beyond the line of visibility focused on visible customer‐company interactions, to the invisible and mental life of the customer. From this follows a need to extend the temporal scope, from exchange and use even further to accumulated experiences in the customer's life and ecosystem.
Research limitations/implications
This paper is conceptual. It discusses and presents a customer‐dominant value perspective and suggests implications for empirical research and practice.
Practical implications
Awareness of the mechanism of the customer value formation process provides companies with new insight on the service strategy, service design and new service innovations.
Originality/value
The paper contributes by extending the value construct through a new customer dominant value perspective, recognizing value as multi‐contextual and dynamic based on customers' life and ecosystem. The findings mark out new avenues for future research.
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Jose Novais Santos and Cristina Sales Baptista
Several studies have focused on the development of relationships between buyers and sellers; however, we still have a limited understanding of the interaction processes of the…
Abstract
Purpose
Several studies have focused on the development of relationships between buyers and sellers; however, we still have a limited understanding of the interaction processes of the relationships between competitors over time. This paper aims to explore the development of relationships between competitors adopting an interaction and network approach.
Design/methodology/approach
This study examines nine relationships between competitors that are part of two multi-actor alliances in the pharmaceutical industry. The study builds on nine longitudinal case studies supported by 24 in-depth interviews.
Findings
The findings reveal that the development of the relationships between competitors within the alliances comprises exchange and coordination processes. The cases show that relationship development is a “never-ending process” within the alliance that includes five phases: co-existence, formation, development, dormancy and dissolution. A third party is identified as having a catalyst role in relationship development.
Originality/value
Supported by a comprehensive literature review on relationship development models, this study highlights the value of applying an interaction and network approach for studying relationships between competitors.
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Changes in financial reporting information were an important part of the British transition from feudalism to capitalism, with statements showing cash surpluses or deficits being…
Abstract
Purpose
Changes in financial reporting information were an important part of the British transition from feudalism to capitalism, with statements showing cash surpluses or deficits being gradually superseded by income statements and balance sheets. The existing literature does not satisfactorily explain the (considerable) variations in the pattern of change in the early part of the transition, when information provision was largely determined by Parliamentary processes, and this paper aims to look to new evidence to strengthen and modify the existing theorisations.
Design/methodology/approach
The research design is to discuss and relate existing theories regarding the emergence of financial reporting information to newly discovered evidence on a substantial set of corporate formations between 1766 and 1840, during the early stages of financial (or managerial) capitalism.
Findings
Requirements to present accounts to shareholders were almost unknown before 1800 and became common only from the 1820s, usually in the form of (cash‐based) receipts and payments accounts, which enabled investors to determine the legitimacy of the dividend payments and would have enabled them to calculate a cash‐based version of the rate of return.
Originality/value
The paper provides new evidence on the patterns of company development and of corporate financial reporting across the formative years of financial capitalism.
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Drago Podobnik and Slavko Dolinšek
The purpose of this paper is to present the usefulness of the combination of the European Foundation for Quality Management excellence model and the balanced scorecard integrated…
Abstract
Purpose
The purpose of this paper is to present the usefulness of the combination of the European Foundation for Quality Management excellence model and the balanced scorecard integrated into the management model for competitiveness and performance development.
Design/methodology/approach
The presented model is the result of a business research where comparative analysis of the two models has been carried out. Both models have been thoroughly studied from different points of view. Such an approach enabled one to define the strengths, weaknesses and similarities of the two models.
Findings
On the basis of the robustness of both models a combination was formed integrated into the management model, which is likely to be better, more effective and simpler to use in practice, and which will support an increase in competitiveness and performance development.
Research limitations/implications
Within the research the aim has been focused on close research into interactions presented in the integrated management model. Throughout research, consideration was given to the problem of its external validity which is somehow limited. Here analytical generalisation is discussed. A number of cases can be found in which a combination of both models has been used in different ways. The way of combination in the integral management model, which is presented here, was carried out in 2005 in an important Slovenian international company.
Originality/value
The originality can be found in the particular approach towards comparative analysis and also in the result, which represents a combination of the two models integrated in an original manner into the integral model of management. Companies which have not yet introduced, as well as those which have already introduced, one of the researched management tools will be able to use the results of this research for further upgrading/consolidation in the sense of the model combination of both. The synergetic effects of the interactions of the combination between both management approaches will have a positive effect on increasing company competitiveness.
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Christoph Dilk, Ronald Gleich, Andreas Wald and Jaideep Motwani
Innovation is one of the key drivers of economic success. However, the global environment is changing and makes innovation management more competitive. In order to sustain an…
Abstract
Purpose
Innovation is one of the key drivers of economic success. However, the global environment is changing and makes innovation management more competitive. In order to sustain an advantage, companies seem to adopt more flexible schemes of organization. Specifically, innovation networks appear useful to researchers and practitioners. This paper aims to explore the current empirical relevance of this phenomenon in the automotive sector, the goals and performance of innovation networks as well as their formation and governance.
Design/methodology/approach
Through a series of semi‐structured interviews with managers from European automobile firms, insights into network approaches and strategies based on the analysis of 39 innovation networks are presented. The study comprises all relevant actors in the industry such as large OEMs as well as small and medium‐sized second‐tier and third‐tier suppliers.
Findings
The empirical survey was able to confirm that innovation networks are of high relevance in the automobile sector. It can be expected that innovation networks will spread further and gain more importance in the coming years. The most important goals that the involved companies aim to realize by using innovation networks include flexible access to technologies, intensified contact with clients and markets and long‐term bonding of suppliers and clients. The companies report a fairly good performance of their innovation networks. Finally, various aspects of network formation and governance have been identified.
Practical implications
Several deficits in current network management practices are identified. Improving these issues, the performance level of innovation networks could be raised even higher.
Originality/value
Building on previous work in this field, this paper adds empirical insights on innovation networks in the automobile business.
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A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that…
Abstract
A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that contract. When such a repudiation has been accepted by the innocent party then a termination of employment takes place. Such termination does not constitute dismissal (see London v. James Laidlaw & Sons Ltd (1974) IRLR 136 and Gannon v. J. C. Firth (1976) IRLR 415 EAT).
Yingfa Lu, Falconer Mitchell and Chris Pong
This paper aims to examine the different perspectives of auditors and non-auditors on this question, along with the rationale and impact of these differences. Chinese company law…
Abstract
Purpose
This paper aims to examine the different perspectives of auditors and non-auditors on this question, along with the rationale and impact of these differences. Chinese company law requires an audit report on paid-up capital when business entities are newly formed or their capital altered, which raises questions regarding the liability of auditors should the business entities fail.
Design/methodology/approach
Interviews and a questionnaire survey were conducted to analyse how legislation can impact on interested parties in a relatively immature audit environment. The theories of social construction of reality and symbolic interactionism are used as a basis for explaining the different conceptions of capital verification held by interested parties.
Findings
There is a mismatch between the purpose of capital verification and the functions of paid-up capital. Paid-up capital is not a reliable indicator of business liquidity and creditworthiness. Auditors and non-auditors have different understandings about the assurance provided by paid-up capital at the point of company formation or auditing field work, and at the point of actual trading after the company formation or auditing field work. They also differ on the causation between deficient capital verification reports and trading loss. The liability crisis adversely influenced auditors’ perception of the capital verification service, although it did not lead to outright rejection by them.
Originality/value
This paper describes an important compliance auditing service in China. By conducting an analysis of the conflicting views of auditors and non-auditors on capital verification, it contributes to the existing literature on the sources of disputes between auditors and other stakeholders, and the efforts to establish a balanced auditor liability regime.
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Julián Martínez-Vargas, Pedro Carmona and Pol Torrelles
The purpose of this paper is to study the influence of different quantitative (traditionally used) and qualitative variables, such as the possible negative effect in determined…
Abstract
Purpose
The purpose of this paper is to study the influence of different quantitative (traditionally used) and qualitative variables, such as the possible negative effect in determined periods of certain socio-political factors on share price formation.
Design/methodology/approach
We first analyse descriptively the evolution of the Ibex-35 in recent years and compare it with other international benchmark indices. Bellow, two techniques have been compared: a classic linear regression statistical model (GLM) and a method based on machine learning techniques called Extreme Gradient Boosting (XGBoost).
Findings
XGBoost yields a very accurate market value prediction model that clearly outperforms the other, with a coefficient of determination close to 90%, calculated on validation sets.
Practical implications
According to our analysis, individual accounts are equally or more important than consolidated information in predicting the behaviour of share prices. This would justify Spain maintaining the obligation to present individual interim financial statements, which does not happen in other European Union countries because IAS 34 only stipulates consolidated interim financial statements.
Social implications
The descriptive analysis allows us to see how the Ibex-35 has moved away from international trends, especially in periods in which some relevant socio-political events occurred, such as the independence referendum in Catalonia, the double elections of 2019 or the early handling of the Covid-19 pandemic in 2020.
Originality/value
Compared to other variables, the XGBoost model assigns little importance to socio-political factors when it comes to share price formation; however, this model explains 89.33% of its variance.
Propósito
El propósito de este artículo es estudiar la influencia de diferentes variables cuantitativas (tradicionalmente usadas) y cualitativas, como la posible influencia negativa en determinados períodos de ciertos factores sociopolíticos, sobre la formación del precio de.
Diseño/metodología/enfoque
Primero analizamos de forma descriptiva la evolución del Ibex-35 en los últimos años y la comparamos con la de otros índices internacionales de referencia. A continuación, se han contrastado dos técnicas: un modelo estadístico clásico de regresión lineal (GLM) y un método basado en el aprendizaje automático denominado Extreme Gradient Boosting (XGBoost).
Resultados
XGBoost nos permite obtener un modelo de predicción del valor de mercado muy preciso y claramente superior al otro, con un coeficiente de determinación cercano al 90%, calculado sobre las muestras de validación.
Implicaciones prácticas
De acuerdo con nuestro análisis, la información contable individual es igual o más importante que la consolidada para predecir el comportamiento del precio de las acciones. Esto justificaría que España mantenga la obligación de presentar estados financieros intermedios individuales, lo que no ocurre en otros países de la Unión Europea porque la NIC 34 solo obliga a realizar estados financieros intermedios consolidados.
Implicaciones sociales
El análisis descriptivo permite ver cómo el Ibex-35 se ha alejado de las tendencias internacionales, especialmente en periodos en los que se produjo algún hecho sociopolítico relevante, como el referéndum de autodeterminación de Cataluña, el doble proceso electoral de 2019 o la gestión inicial de la pandemia generada por el Covid-19.
Originalidad/valor
En comparación con otras variables, el modelo XGBoost asigna poca importancia a los factores sociopolíticos cuando se trata de la formación del precio de las acciones; sin embargo, este modelo explica el 89.33% de su varianza.
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