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This study aims to analyse the political connections of Portuguese companies through the members of the board of directors, exploring how these connections influence, in particular, the composition and characteristics of the boards.

The research used a strategy based on analysing the financial statements and curriculum vitae of the directors of Portuguese companies listed on Euronext Lisbon from 2014 to 2019. The political connections of board members were examined, considering the variables identified in the existing literature.

The results indicate that companies with political connections maintain these relationships for long periods and have a greater number of members on the board of directors compared to companies without such connections. Directors with political experience tend to occupy non-executive positions, suggesting that companies may value political contacts more than the management skills of these directors. It was also found that there are politically connected directors who belong to multiple boards and that women appointed to the board are less likely to have a political background, reflecting male dominance in Portuguese politics.

The main limitations of this study include the small number of listed companies in the sample, which may affect the statistical robustness of the results, as well as the use of secondary sources, which may not capture all relevant policy linkages. In addition, the results are specific to the Portuguese context and may not be generalisable to other countries or other regions of the world.

This study contributes to the understanding of political connections in Portuguese companies, offering valuable insights into how these connections influence board composition and can impact corporate strategy and governance. The findings of this study can be especially useful for business leaders looking to optimise the formation of their boards of directors.

This study investigates two internationalization strategies, foreign direct investment (FDI) expansion and export expansion, and their effects on the innovation performance of Chinese multinational enterprises (MNEs). Additionally, it explores the moderating roles of both formal and informal political connections in the relationship between these internationalization strategies and innovation performance.

The hypotheses were tested using the Poisson panel model and data on 2,106 observations from 645 Chinese-listed firms between 2010 and 2017.

FDI expansion significantly enhances the innovation performance of Chinese MNEs compared to export expansion. Moreover, formal and informal political connections are found to have distinct moderating effects: formal political connections amplify the positive effect of FDI expansion on firm innovation, whereas informal political connections tend to weaken it.

This study contributes to the discourse on innovation and political connections, especially in the context of EMNEs. It enriches the theoretical understanding of internationalization strategies and innovation performance in EMEs, contrasting with the technology-utilization motives observed in MNEs from developed economies.

This study aims to examine the interrelationships between social media marketing activities, self-brand connections, brand equity, trust and loyalty.

A total of 402 valid responses were collected from Amazon MTurk, and the data were subjected to partial least squares structural equation modeling and fuzzy-set qualitative comparative analysis (fsQCA).

Findings indicate that social media marketing activities strongly and positively influence self-brand connection, brand equity and brand trust. Moreover, brand loyalty was strongly and positively influenced by self-brand connection, brand equity and brand trust. Moreover, the findings from fsQCA indicate that three causal paths lead to a high level of brand loyalty, and one causal path determines a low level of brand loyalty.

This research extends current knowledge by bridging the literature between social media marketing activities and branding using self-brand connections. Additionally, this study uses the strength of two complimentary methods – symmetrical and asymmetrical modeling – to uncover how social media marketing activities bridge customer-brand relationships.

Este estudio examina las interrelaciones entre las actividades de marketing en redes sociales, las conexiones de marca propia, el valor de la marca, la confianza y la lealtad.

Se recopilaron 402 respuestas válidas de Amazon MTurk, y los datos fueron sometidos a PLS-SEM y análisis cualitativo comparativo con conjuntos difusos (fsQCA).

Los resultados indican que las actividades de marketing en redes sociales influyen fuertemente y de manera positiva en la conexión de marca propia, el valor de la marca y la confianza en la marca. Además, la lealtad a la marca es influenciada fuerte y positivamente por la conexión de marca propia, el valor de la marca y la confianza en la marca. Además, los resultados de fsQCA indican que tres vías causales conducen a un alto nivel de lealtad a la marca, y una determina un bajo nivel de lealtad a la marca.

Esta investigación amplía el conocimiento actual al vincular la literatura entre las actividades de marketing en redes sociales y el branding utilizando conexiones de marca propia. Además, este estudio utiliza dos métodos complementarios – modelado simétrico y asimétrico – para descubrir cómo las actividades de marketing en redes sociales construyen las relaciones entre cliente y marca.

本研究探讨社交媒体营销活动、自我品牌连接、品牌资产、信任和忠诚度之间的相互关系。

从亚马逊MTurk收集了402个有效回复, 并对数据进行了PLS-SEM和模糊集合质性比较分析 (fsQCA) 的处理。

研究发现, 社交媒体营销活动对自我品牌连接、品牌资产和品牌信任产生了强烈而积极的影响。此外, 自我品牌连接、品牌资产和品牌信任也对品牌忠诚度产生了强烈而积极的影响。fsQCA的结果显示, 导致高水平品牌忠诚度的有三条因果路径, 而导致低水平品牌忠诚度的有一条因果路径。

本研究通过构建社交媒体营销活动与品牌之间的桥梁, 利用自我品牌连接, 扩展了当前知识。此外, 利用对称和非对称建模两种互补方法的优势, 揭示了社交媒体营销活动如何建立客户品牌关系。

This study was aimed at clarifying the post-fire shear strength of self-drilling screws and the load-bearing capacity of single overlapped screwed connections using steel sheets and self-drilling screws. The self-drilling screws for shear tests were made of high-strength, martensitic-stainless and austenitic stainless-steel bars.

Shear loading tests were conducted on self-drilling screws to obtain basic information on post-fire shear strength. Tensile tests were conducted on the screwed connections to examine the transition of failure modes depending on the test temperature after experiencing the heating and cooling procedures.

The post-fire shear strengths and reduction factors of self-drilling screws of each steel grade were quantified. Furthermore, heated temperature-dependent sheet bearing failure, net sheet failure and screw shear failure modes were observed for the screwed connections.

The transition of the failure modes of the screwed connection could be explained using the equations of the post-fire shear strength proposed in this study. The basic experimental data required to evaluate the post-fire shear strength of screws were obtained.

Research on the political connections of multinational enterprises’ (MNEs’) subsidiaries in emerging host countries has been growing. The purpose of this paper is to integrate institutional and resource dependence theories to argue that MNEs-subsidiaries are likely to develop fewer formal (i.e. board-level) political connections when operating in welfare-state monarchies as compared to in host countries with developmental-state democratic systems. Furthermore, this paper argues that MNE-subsidiaries develop formal political connections to a greater extent in industries where religion influences the development of products and services considerably. Finally, the extent of developing formal political connections varies by the scale of the MNEs’ investment (or subsidiary density) in the host market.

The paper tests its hypotheses on a sample of foreign-owned subsidiaries operating in Saudi Arabia and Egypt. The data was collected by combining information from Bureau Van Dijk’s Orbis database with company websites and other secondary sources. The final sample consisted of 156 observations – 70 MNEs-subsidiaries operating in Saudi Arabia, and 86 in Egypt.

The findings confirm that foreign subsidiaries are likely to develop fewer formal political connections in a welfare-state monarchy as compared to in a developmental-state democratic system. Furthermore, formal political connections are more significant in industries that are impacted by the influence of religion – such as the financial industry in Arab countries. Finally, the extent of using political connections varies by the scale of the MNEs’ investment in the host market – that is, with a greater scale of investment (or higher subsidiary density), formal political connections are greater.

The paper contributes theoretically by explaining that a combination of institutional heterogeneity and its associated resource dependence conditions between MNEs and host governments influence MNE-subsidiaries' political connections. The paper tests its hypotheses in an emerging Arab context, which is characterized by both autocratic and semi-democratic political settings, and which makes the integration of institutional and resource dependence theories useful in explaining how MNE-subsidiaries navigate local complexities in this region.

This paper examines the relationship between heterogeneous political connections and corporate overinvestment.

Based on a comprehensive Malaysian dataset of 834 publicly listed companies from 2000 to 2022, the authors employed multivariate ordinary least squares regression to test the relationship.

Despite different types of political connections, the findings demonstrate a positive relationship between political connections and corporate overinvestment. In particular, the association is more profound in government-linked companies (GLCs) but weaker in firms that developed political ties through family members of ruling elites. Further analysis reveals that the “helping hand” effect is only observed in GLCs and firms with politically connected directors and businessmen, whereas the “grabbing hand” effect is observed among firms connected through board, businessmen, and family ties. Moreover, the relationship is more persistent among firms with politically connected directors and businessmen around the regime change.

Regardless of the types of political connections, the findings show that politically connected firms tend to engage in rent-seeking through political patronage networks and high levels of government interference in resource allocation. Therefore, a more sophisticated monitoring system should be developed within the political patronage networks to reduce the likelihood of different types of political-business collusion. In terms of research limitations, the research design does not consider the influence of financial constraints and management efficiency. Future research could explore these facets to comprehensively understand the dynamics between political connections and corporate investment decisions.

The evidence informs market participants about the relationship between heterogeneous political connections and corporate overinvestment, reinforcing previous findings that crony capitalism, political patronage, agency problems, and weak governance are well-entrenched in Malaysia’s emerging economy. The government should acknowledge these concerns by enacting anti-corruption campaigns and promoting a fair business environment. In the meantime, policymakers might redesign regulations and revise corporate governance frameworks to substantially reduce the value of political connections, thereby diminishing the bargaining power of politicians.

As corporate investment efficiency has a considerable impact on firm value, investment decisions that enhance firm value will increase share price and maximise shareholder value. Conversely, firms may damage shareholder value if they overinvest or undertake projects that do not yield sufficient. Hence, the findings of this study may assist investors in making more informed judgements, particularly by understanding different types of business-government relations, as political connections are one of the determinants of corporate overinvestment.

This study reveals that the degree to which overinvestment issues manifest within firms is influenced by the nature of the political connections those firms possess. This indicates that politically connected firms should not be regarded as a homogenous group of firms.

The study explores the dynamics among communal-brand connections, corporate reputation, customer satisfaction and their collective influence on service loyalty within the retail customer segment of commercial banks.

Hypotheses are proposed for a parallel and serial-mediated model, in which corporate reputation and customer satisfaction mediate the influence of communal-brand connections on service loyalty. Data are collected from a sample of retail customers of commercial banks in a European country.

Findings indicate that individuals who perceive a strong affiliation with a brand that emphasises community engagement are more likely to demonstrate loyalty to that brand. Results highlight the need for managers allocate resources to cultivate community initiatives that foster communal-brand connection in their drive to improve service loyalty.

A non-representative sample was collected, with a focus on a limited set of variables and employing a unidimensional measure of service loyalty. Additionally, the significance of communal-brand connection may vary across brands, warranting replication studies among smaller banks.

Recognition of communal-brand connection as an important driver of customer loyalty suggests that customers are motivated by intrinsic positioning factors related to the community. As part of their positioning, commercial banks can leverage their marketing and communication efforts to foster community development, thereby enhancing customer identification, connection and narratives that foster belongingness among customers.

The model of direct and mediated model of communal-brand connection on service loyalty has not been previously explored. Moreover, the research is conducted among retail bank customers that representing a context seldom considered in the domain of brand communities.

Studies have shown that within-domain compensatory consumption can successfully repair the damaged self, but other research indicates that it can undermine self-control because such consumption causes self-threat rumination that impairs self-regulatory resources. This paper aims to identify a boundary condition that reconciles and explains these contradictory findings.

The authors conducted three experiments to show that within-domain compensatory consumption undermines self-control, but only in some situations. They test a boundary condition (i.e. type of connections between within-domain products and self-threat domain) for the effects of such consumption on self-threat rumination and self-control.

This paper demonstrates that within-domain (but not across-domain) compensatory consumption induces rumination and reduces subsequent self-control, but only when the product’s connection to the self-threat domain is made explicit through brand names or slogans. When the connection is merely implicit, rumination and self-control deficits are not observed.

Consumers may seek certain products to bolster threatened aspects of their self-concept. Marketing tactics that explicitly highlight connections to such self-aspects can lower a consumer’s self-control resulting in stronger purchase intent, while at the same time hindering the possibility of self-concept repair. Managers need to be wary of ethical concerns.

This research qualifies the existing findings by presenting “type of product connection” as a key determinant of within-domain compensatory consumption’s impact on self-control. Researchers need to be conscious of the type of products (explicitly vs implicitly connected to the self-threat domain) they use in compensatory consumption studies, because this may influence their findings.

This study aims to examine the relationship between economic policy uncertainty (EPU) and environmental, social and governance (ESG) disclosure and the moderating role of board network centrality and political connections on the nexus between EPU and ESG.

Using a sample of the UK Financial Times Stock Exchange (FTSE) 350 firms during 2007 to 2018, this study examines the relationship between EPU and the ESG disclosure and the moderating effects of board centrality and board political connections using multivariate regression analysis.

The results show that firms tend to increase their ESG disclosure when EPU rises. The results also reveal that EPU is negatively associated with firms’ financial performance and ESG performance is less evident for firms with higher ESG disclosure scores and is observed only when board centrality is relatively low and the political connections are absent. The study finds further evidence to support the hypotheses during periods of heightened conflicts (i.e. global financial crisis and the Brexit referendum).

This study offers practical insights for corporate managers who attempt to preserve and enhance their firms’ competitive advantages via maintaining its stakeholders support through greater ESG disclosure during heightened EPU periods.

By integrating the resource-based view (RBV) and the signaling theory, this study extends the signaling theory and RBV by examining the relationship between EPU and ESG disclosure as a signal to its stakeholders and information advantages that board centrality and political connections bring to the company to reduce information asymmetry between the firms and its stakeholders during EPU.

The purpose of this study is to contribute to previous research on customer relationships by quantitatively examining differences in the monetary benefits obtained by consumers using social and commercial relationships to make purchases from small and medium-sized enterprises (SMEs).

Customer transaction and relationship data from an SME in the USA is used to quantitatively assess the value of different marketplace relationships in an entrepreneurial context. Tobit regression is used to empirically model and test the impact of specific relationship characteristics on customer discounts.

Customers using social connections to make purchases obtain significantly larger discounts than customers using commercial connections; customers using direct connections attain significantly larger discounts than consumers using indirect connections (referrals). Interestingly, when examined by connection type, direct and indirect connections do not produce significant differences for social connections, yet they yield notable differences for commercial connections. The findings provide valuable insights to entrepreneurs for understanding and managing customer relationships.

This study empirically demonstrates that social relationships can be both prevalent and influential in the marketplace. The methodology used to quantitatively assess the monetary value associated with different methods of engaging with SMEs allows objective comparisons among different types of customer relationships. Quantification also allows important relationship characteristics to be empirically examined, including how the relationships compare to one another and to nonpersonal marketing activities. Ultimately, these novel contributions generate important insights to help marketers and entrepreneurs better understand customer relationships.