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Book part
Publication date: 23 November 2017

Dorota Piaskowska

Prior research has tended to view cross-country distance as an obstacle. Yet, differences across countries are a key reason for firms to internationalize. To address this…

Abstract

Prior research has tended to view cross-country distance as an obstacle. Yet, differences across countries are a key reason for firms to internationalize. To address this discrepancy, this paper puts forward a unifying framework which (1) synthesizes and delineates the different types of cross-country distance, (2) provides a logic for analyzing cross-level influences of distance on internationalization decisions, and (3) highlights the opportunities brought about by distance. The paper argues that firms are more likely to be able to realize these opportunities when they have internationally experienced managers and diverse, well-functioning top management teams at the helm. The paper also highlights the complex influences of distance, calling for the use of cognitive and behavioral research methodologies to further our understanding of the role of distance in internationalization. An illustrative example of Vodafone Group PLC is included.

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Distance in International Business: Concept, Cost and Value
Type: Book
ISBN: 978-1-78743-718-0

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Article
Publication date: 11 July 2020

Mohammad Zainuddin, Masnun Mahi, Shabiha Akter and Ida Md. Yasin

This study investigates the role of national culture between outreach and sustainability of microfinance institutions (MFIs). Despite microfinance's deep embeddedness in…

Abstract

Purpose

This study investigates the role of national culture between outreach and sustainability of microfinance institutions (MFIs). Despite microfinance's deep embeddedness in cultural contexts, research on the influence of national culture on MFI performance is rather sparse. This paper seeks to fill this gap and, based on cross-country microfinance data, attempts to explain the outreach-sustainability relationship in reference to cultural factors.

Design/methodology/approach

An unbalanced panel, consisting of 5,741 MFI-year observations of 1,232 MFIs from 43 countries in six regions, is drawn from the Microfinance Information Exchange (MIX) Market database. Two different econometric models are tested. Model 1 estimates the direct effect of outreach on sustainability, using a fixed-effects estimator. Model 2 examines the moderation effect of national culture on outreach-sustainability relationship, employing correlated random effects approach.

Findings

The results show that depth of outreach and financial sustainability of MFIs are negatively related, and the relationship is moderated by national culture. Power distance and uncertainty avoidance positively moderate the outreach-sustainability relationship, whereas individualism and masculinity negatively moderate the relationship.

Originality/value

The findings suggest that the national culture where MFIs are located plays an important contingent role in their performance and that the magnitude of the trade-off effect varies from culture to culture. The research thus provides further insight in the trade-off debate and contributes to literatures of both microfinance and cross-cultural management.

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Cross Cultural & Strategic Management, vol. 27 no. 3
Type: Research Article
ISSN: 2059-5794

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Article
Publication date: 15 September 2020

Abel Duarte Alonso and Seng Kiat Kok

The purpose of this study was to examine pathways towards, and the rationale behind internationalisation from the perspectives of micro firms' operators involved in the…

Abstract

Purpose

The purpose of this study was to examine pathways towards, and the rationale behind internationalisation from the perspectives of micro firms' operators involved in the globally competitive wine industry. Moreover, drawing from entrepreneurial action theory, the study developed a theoretical framework to help understanding micro approaches and rationale for internationalisation.

Design/methodology/approach

Data were collected through interviews with 19 micro winery owners and managers operating in the Prosecco Superiore (Italy) and cava industry (Spain).

Findings

Aligned with entrepreneurial action theory, uncertainty in participants' environment, coupled with the associated need to diversify through exports, were predominant drivers of internationalisation. However, internationalisation also emerged through non-deliberate channels, including through growth of wine tourism and increasing foreign wine enthusiasts. Thus, while entrepreneurial action through deliberate means triggered a stronger focus on internationalisation, other passive interventions beyond the control or influence of micro firms, but rather emerge serendipitously, can similarly spur direct action.

Originality/value

The study demonstrated its originality and value in various ways, fundamentally, addressing three knowledge gaps, thereby contributing to practical and theoretical discourses with corresponding value, including managerially. First, it extended literature focussing on micro firms, which as compared to small and medium enterprise research is much more limited. Second, it provided a comparative component, which is much rarer in contemporary research discussing internationalisation amongst micro firms. Third, the study proposed a theoretical framework stemming from the chosen inductive approach, thus, addressing concerns regarding the lack of theoretical rigour or depth in internationalisation activities amongst micro firms.

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British Food Journal, vol. 123 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 17 August 2012

Pedro Ruivo, Tiago Oliveira and Miguel Neto

Consistent with the diffusion of innovation (DOI) model and resource‐based view (RBV) theory, the purpose of this paper is to develop a research model for measuring…

Abstract

Purpose

Consistent with the diffusion of innovation (DOI) model and resource‐based view (RBV) theory, the purpose of this paper is to develop a research model for measuring enterprise resource planning (ERP) post‐adoption and its consequence on small and medium enterprise (SME) performance.

Design/methodology/approach

The model links six determinants based on DOI to explain “ERP use” and three on RBV to explain the “ERP value”, on which nine hypotheses are postulated. Testing was conducted through structural equation modelling, utilizing data from 558 web‐surveyed firms in Portugal and Spain.

Findings

Full sample analysis finds that competitive pressure, training, best‐practices, compatibility, and efficiency are important antecedents of “ERP use”. Together with usage, collaboration and analytics capabilities contribute to “ERP value”. Cross‐country analysis reveals that complexity is an important inhibitor for “ERP use” in Portuguese firms whereas it is a facilitator for Spanish firms. In addition, while for Portuguese firms, compatibility and efficiency are significant, they are not for Spanish firms. For “ERP value”, while use and collaboration are more important for Portuguese firms, analytics is more important for Spanish.

Research limitations/implications

The paper provides insight into how SMEs use and value ERP; however, the authors cannot speak empirically on the issue of whether value is sustained, or on maturity stages, or on the impact of different industries.

Originality/value

The paper describes the first empirical research study on Iberian SMEs, thus adding a cross‐country dimension to the innovation diffusion literature. Unlike the typical focus on ERP adoption found in the literature, this paper focuses on post‐adoption stages, linking usage with value.

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Book part
Publication date: 11 May 2007

Michael Shalev

The difficulties that MR poses for comparativists were anticipated 40 years ago in Sidney Verba's essay “Some Dilemmas of Comparative Research”, in which he called for a…

Abstract

The difficulties that MR poses for comparativists were anticipated 40 years ago in Sidney Verba's essay “Some Dilemmas of Comparative Research”, in which he called for a “disciplined configurative approach…based on general rules, but on complicated combinations of them” (Verba, 1967, p. 115). Charles Ragin's (1987) book The Comparative Method eloquently spelled out the mismatch between MR and causal explanation in comparative research. At the most basic level, like most other methods of multivariate statistical analysis MR works by rendering the cases invisible, treating them simply as the source of a set of empirical observations on dependent and independent variables. However, even when scholars embrace the analytical purpose of generalizing about relationships between variables, as opposed to dwelling on specific differences between entities with proper names, the cases of interest in comparative political economy are limited in number and occupy a bounded universe.2 They are thus both knowable and manageable. Consequently, retaining named cases in the analysis is an efficient way of conveying information and letting readers evaluate it.3 Moreover, in practice most producers and consumers of comparative political economy are intrinsically interested in specific cases. Why not cater to this interest by keeping our cases visible?

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Capitalisms Compared
Type: Book
ISBN: 978-1-84950-414-0

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Article
Publication date: 11 April 2016

Amita Majumder, Ranjan Ray and Kompal Sinha

The purpose of this paper is to extend the methodology proposed in Majumder et al. (2012) for the estimation of the item-specific purchasing power parities (PPPs) within…

Abstract

Purpose

The purpose of this paper is to extend the methodology proposed in Majumder et al. (2012) for the estimation of the item-specific purchasing power parities (PPPs) within countries, to the cross-country context. It estimates item-specific intra-country PPPs (i.e. spatial prices) and inter-country PPPs in a unified framework using unit records of household food expenditures from three Asian countries: India, Indonesia and Vietnam, covering contemporaneous time periods. The study addresses a key limitation of the International Comparison Program (ICP) exercise, namely, that it treats all countries, large and small, as homogeneous entities. Moreover, it directly calculates bilateral PPPs between countries based on their expenditure patterns and prices alone and directly estimates the price-level indices (PLI) and their standard errors, allowing formal tests of the hypothesis of PLI being unity. The usefulness of the estimated PPPs is illustrated by applying them to comparisons of real food expenditures between the three countries, and benchmarking the comparisons with those using the ICP PPPs.

Design/methodology/approach

The methodology is based on the fact that a spatial price index can be viewed as a true cost of living index (TCLI). Using a general cost function underlying the Rank 3 quadratic logarithmic systems, the TCLI is calculated for a reference utility level.

Findings

The study provides formal statistical tests of the hypothesis of item invariance of the PPPs. The usefulness of the proposed methodology is illustrated by applying the estimated PPPs in comparisons of food expenditures between subgroups in the three countries. The sensitivity of the expenditure comparisons to the use of item-wise PPPs underlines the need to provide price information on highly disaggregated PPPs to a much greater extent than the ICP has done to date.

Research limitations/implications

The choice of these three Asian countries was dictated by the fact that, though comparability of items between them remains an issue as with all cross-country comparisons. Also, in the absence of price data, this study followed the practice in Majumder et al. (2012, 2015a, 2015b) in using as proxies the raw unit values of the food items, but adjusted for quality and demographic factors using the procedure introduced by Cox and Wohlgenant (1986) and extended by Hoang (2009).

Practical implications

It addresses some limitations of the ICP, namely, ICP treats all countries as single entities with the purchasing power of the country’s currency assumed to be the same in all regions within the country, ICP uses the US dollar as the numeraire (this ignores the fact that the PPPs required in bilateral welfare comparisons between developing countries with vastly different consumption habits from the “international norm” are quite different from the ICP PPPs) and ICP uses distribution invariant prices to calculate PPPs, which overlooks the fact that the poor pay different prices from the “representative” individual.

Social implications

This study highlights the importance of estimating and using item-specific PPPs in cross-country comparisons by formally testing and rejecting the assumption of item invariant PPPs and by providing empirical evidence that they do make a difference to the welfare comparisons between countries. This study provides PPPs based on food items only, which may be more relevant for poverty comparisons.

Originality/value

It introduces, for the first time, the concept of item-specific PPPs between countries as estimable parameters and operationalizes this concept by using them in cross-country welfare comparisons.

Details

Indian Growth and Development Review, vol. 9 no. 1
Type: Research Article
ISSN: 1753-8254

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Book part
Publication date: 2 March 2011

Carlo Gola and Francesco Spadafora

The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the International Monetary Fund's activities. This chapter surveys the various…

Abstract

The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the International Monetary Fund's activities. This chapter surveys the various steps and initiatives through which the Fund has increasingly deepened its involvement in FSS. Overall, this process can be characterised by a preliminary stage and two main phases. The preliminary stage dates back to the 1980s and early 1990s, and was mainly related to the Fund's research and technical assistance activities within the process of monetary and financial deregulation embraced by several member countries. The first ‘official’ phase of the Fund's involvement in FSS started in the aftermath of the Mexican crisis, and relates to the international call to include financial sector issues among the core areas of Fund surveillance. The second phase focuses on the objectives of bringing the coverage of financial sector issues ‘up-to-par’ with the coverage of other traditional core areas of surveillance, and of integrating financial analysis into the Fund's analytical macroeconomic framework. By urging the Fund to give greater attention to its member countries' financial systems, the international community's response to the global crisis may mark the beginning of a new phase of FSS. The Fund's financial sector surveillance, particularly on advanced economies, is of paramount importance for emerging market and developing countries, as they are vulnerable to spillover effects from crises originated in advanced economies. Emerging market and developing economies, which constitute the majority of the Fund's 187 members, are currently the recipients of over 50 programmes of financial support from the Fund (including those of a precautionary nature), totalling over $250 billion.

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The Impact of the Global Financial Crisis on Emerging Financial Markets
Type: Book
ISBN: 978-0-85724-754-4

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Article
Publication date: 4 November 2019

Karolin Köhler and Ansgar Zerfass

The purpose of this paper is to address an important but seldom explored field of study: the communication of corporate strategies to external and internal stakeholders…

Abstract

Purpose

The purpose of this paper is to address an important but seldom explored field of study: the communication of corporate strategies to external and internal stakeholders. The relevance of the topic can be tracked both in communication studies and in management research, but empirical insights are rare. The paper addresses this research gap by asking: How do listed companies in key industrial markets communicate publicly about their corporate strategy?

Design/methodology/approach

A comprehensive content analysis of corporate websites was conducted for a sample of the 20 largest listed companies in the UK, the USA and Germany (n=60). The subsequent benchmark analysis has identified best practices and highlighted them in detail.

Findings

The study revealed significant differences between companies and countries in the sample for most of the dimensions. Cross-country comparisons confirm these differences statistically: German companies score significantly higher in the benchmark than British or US companies.

Practical implications

This paper outlines quality criteria for professional strategy communication, helping practitioners to improve their activities and contribute to organizational goals.

Originality/value

The study offers a holistic approach to strategy communication by providing an interdisciplinary theoretical foundation as well as insights into corporate practice, with the aim of laying the ground for further research and discussion in both academia and practice.

Details

Journal of Communication Management, vol. 23 no. 4
Type: Research Article
ISSN: 1363-254X

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Article
Publication date: 6 August 2018

Chou-Kang Chiu, Chieh-Peng Lin, Yuan-Hui Tsai and Siew-Fong Teh

The purpose of this paper is to explore the development of knowledge sharing from the perspectives of broaden-and-build theory and expectancy theory. Its research purpose…

Abstract

Purpose

The purpose of this paper is to explore the development of knowledge sharing from the perspectives of broaden-and-build theory and expectancy theory. Its research purpose is to understand how knowledge sharing is driven by such predictors as optimism, pessimism, and positive affect through their complex interactions with collectivism or power distance. In the proposed model of this study, knowledge sharing relates to optimism and pessimism via the partial mediation of positive affect. At the same time, the influence of optimism, pessimism, and positive affect on knowledge sharing are moderated by the national culture of collectivism and power distance, respectively.

Design/methodology/approach

This study’s hypotheses were empirically tested using data from high-tech firms across Taiwan and Malaysia. Of the 550 questionnaires provided to the research participants, 397 usable questionnaires were collected (total response rate of 72.18 percent), with 237 usable questionnaires from Taiwanese employees and 160 usable questionnaires from Malaysian employees. The data from Taiwan and Malaysia were pooled and analyzed using: confirmatory factor analysis for verifying data validity, independent sample t-tests for verifying the consistency with previous literature regarding cultural differences, and hierarchical regression analysis for testing relational and moderating effects.

Findings

This study demonstrates the integrated application of the broaden-and-build theory and expectancy theory for understanding optimism, pessimism, and positive affect in the development of knowledge sharing. The test results confirm that positive affect partially mediates the relationship between optimism and knowledge sharing and fully mediates the relationship between pessimism and knowledge sharing. Moreover, collectivism and power distance have significant moderating effects on most of the model paths between knowledge sharing and its predictors except for the relationship between pessimism and knowledge sharing.

Originality/value

This study extends the expectancy theory to justify how optimistic and pessimistic expectations are stable traits that dominate the way employees share their knowledge sharing. This study shows how collectivism and power distance of Hofstede’s cultural framework can be blended with the broaden-and-build theory and expectancy theory to jointly explain knowledge sharing. Besides, this study provides additional support to the adaptation theory of well-being that suggests psychosocial interventions, which manage to enhance well-being by leveraging positive affect, hold the promise of reducing stressful symptoms and boosting psychological resources among employees.

Details

Cross Cultural & Strategic Management, vol. 25 no. 3
Type: Research Article
ISSN: 2059-5794

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Article
Publication date: 12 November 2018

Francisca Beer, Badreddine Hamdi and Mohamed Zouaoui

The purpose of this paper is to examine whether investors’ sentiment affects accruals anomaly across European countries.

Abstract

Purpose

The purpose of this paper is to examine whether investors’ sentiment affects accruals anomaly across European countries.

Design/methodology/approach

The authors estimate the model using Fama–MacBeth regressions. The sample includes 54,572 firm-year observations for 4,787 European firms during the period 1994–2014.

Findings

The authors find that investors’ sentiment influences accruals mispricing across European countries. The effect is pronounced for stocks whose valuations are highly subjective and difficult to arbitrage. The cross-country analysis provides evidence that sentiment influences accruals anomaly in countries with weaker outside shareholder rights, lower legal enforcement, lower equity market development, higher allowance of accrual accounting and in countries where herd-like behavior and overreaction behavior are strong.

Research limitations/implications

The findings suggest the generalizability of the sentiment-accruals anomaly relation in European countries characterized by different cultural values, levels of economic development and legal tradition.

Practical implications

The findings suggest to caution individuals investors. These investors would be wise to take into account the impact of sentiment on the performance of their portfolio. They must keep in mind that periods of high optimism are accompanied by a high level of accruals and followed by low future stock returns.

Originality/value

The research supplements previous American studies by showing the significance of the level of sentiment in understanding the accruals anomaly in Europe. Hence, it is important for future studies to consider investor sentiment as an important time-series determinant of the accruals anomaly, particularly for stocks that are hard to value and difficult to arbitrage.

Details

Journal of Applied Accounting Research, vol. 19 no. 4
Type: Research Article
ISSN: 0967-5426

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1 – 10 of over 5000