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Article
Publication date: 27 May 2021

Ilaria Galavotti, Andrea Lippi and Daniele Cerrato

This paper aims to develop a conceptual framework on how the representativeness heuristic operates in the decision-making process. Specifically, the authors unbundle…

Abstract

Purpose

This paper aims to develop a conceptual framework on how the representativeness heuristic operates in the decision-making process. Specifically, the authors unbundle representativeness into its building blocks: search rule, stopping rule and decision rule. Furthermore, the focus is placed on how individual-level cognitive and behavioral factors, namely experience, intuition and overconfidence, affect the functioning of this heuristic.

Design/methodology/approach

From a theoretical standpoint, the authors build on dual-process theories and on the adaptive toolbox view from the “fast and frugal heuristics” perspective to develop an integrative conceptual framework that uncovers the mechanisms underlying the representativeness heuristic.

Findings

The authors’ conceptualization suggests that the search rule used in representativeness is based on analogical mapping from previous experience, the stopping rule is the representational stability of the analogs and the decision rule is the choice of the alternative upon which there is a convergence of representations and that exceeds the decision maker's aspiration level. In this framework, intuition may help the decision maker to cross-map potentially competing analogies, while overconfidence affects the search time and costs and alters both the stopping and the decision rule.

Originality/value

The authors develop a conceptual framework on representativeness, as one of the most common, though still poorly investigated, heuristics. The model offers a nuanced perspective that explores the cognitive and behavioral mechanisms that shape the use of representativeness in decision-making. The authors also discuss the theoretical implications of their model and outline future research avenues that may further contribute to enriching their understanding of decision-making processes.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

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Article
Publication date: 19 June 2017

Ilaria Galavotti, Donatella Depperu and Daniele Cerrato

The purpose of this paper is to analyze corporate scope decisions in acquisitions with a focus on the relationship between target country unfamiliarity and…

Abstract

Purpose

The purpose of this paper is to analyze corporate scope decisions in acquisitions with a focus on the relationship between target country unfamiliarity and acquirer-to-target relatedness and on the moderating effects played by product diversification and international experience.

Design/methodology/approach

Using a dataset of 689 acquisitions completed in the period 2007-2013 by acquirers located in 60 countries, this paper utilizes an ordered logistic regression analysis.

Findings

With greater target country unfamiliarity, acquirers are encouraged to pursue greater acquirer-to-target relatedness. This finding suggests that acquirers tend to seek a balance between product and international diversification to reduce the sources of uncertainty in their acquisition moves. While past international experience strengthens this relationship, diversification experience has a negative moderating effect and hence encourages acquirers to reduce relatedness at increasing market unfamiliarity.

Originality/value

The originality of this paper is twofold. First, the authors extend the traditional internationalization-diversification framework to an unfamiliarity-relatedness relationship in the context of acquisitions. Second, the authors propose a construct of target country unfamiliarity in acquisitions that goes beyond the traditional domestic vs cross-border dichotomy by including previous experience in the target country.

Details

Management Decision, vol. 55 no. 5
Type: Research Article
ISSN: 0025-1747

Keywords

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Article
Publication date: 11 November 2011

Daniele Cerrato and Donatella Depperu

The purpose of this paper is to develop a framework for positioning the research contributions on the analysis of firm‐level international competitiveness and addressing…

Abstract

Purpose

The purpose of this paper is to develop a framework for positioning the research contributions on the analysis of firm‐level international competitiveness and addressing the key issues on this topic.

Design/methodology/approach

Linking the concepts of internationalization, performance, and firm‐level competitiveness, the paper proposes a framework for identifying the different dimensions of international competitiveness. Literature on each dimension is reviewed and the linkages between them are discussed.

Findings

The paper unbundles the construct of international competitiveness into three dimensions: “ex ante” competitiveness, relating to firm‐ and location‐specific advantages as drivers of competitiveness; firm internationalization profile, resulting from the qualitative and quantitative characteristics of a firm's presence abroad; “ex post” competitiveness, relating to market, financial and nonfinancial performance of a firm in foreign markets.

Originality/value

Although the analysis of international competitiveness benefits from contributions from different research streams such as international business, marketing, and strategic management, the lack of an organizing framework makes it difficult to “handle” within a potentially huge body of literature. This paper contributes to fill this gap. In addition, it provides the basis for a new research agenda about the analysis of the internationalization‐performance relationship.

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Article
Publication date: 31 July 2013

Fabio Antoldi, Daniele Cerrato and Donatella Depperu

The purpose of this paper is to examine the role of export consortia in developing countries as a means to develop intangible resources that enhance SMEs' competitiveness.

Abstract

Purpose

The purpose of this paper is to examine the role of export consortia in developing countries as a means to develop intangible resources that enhance SMEs' competitiveness.

Design/methodology/approach

The paper presents a framework for the analysis of the processes through which intangible resources are developed within export consortia. The methodology employed involves in‐depth case studies of nine export consortia supported by UNIDO in Morocco, Peru, Tunisia, and Uruguay, during the period 2004‐2007.

Findings

The participation in export consortia is very important not only to develop intangible resources that increase competitiveness abroad, but also for becoming more competitive at domestic level. This is particularly relevant for SMEs from developing countries.

Research limitations/implications

The findings are based on nine case studies of export consortia in developing countries. All these consortia are rather young and developed with the support of UNIDO. Future studies should explore the issues addressed in the paper through the analysis of consortia of different size and age as well as different countries.

Practical implications

The findings and the framework proposed can be used by SMEs, consultants and agencies that support export consortia in the formulation of the consortium strategy and by policy‐makers to identify conditions for successful cooperation among SMEs.

Originality/value

The research is among the few that analyze export consortia and the first to offer a conceptual framework and empirical evidence linking intangible resources, export consortia, SMEs and developing countries.

Details

Journal of Small Business and Enterprise Development, vol. 20 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

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Article
Publication date: 10 June 2014

Todd Alessandri, Daniele Cerrato and Donatella Depperu

The purpose of this paper is to examine the effects of the organizational slack and acquisition experience on acquisition behavior across varying environmental conditions…

Abstract

Purpose

The purpose of this paper is to examine the effects of the organizational slack and acquisition experience on acquisition behavior across varying environmental conditions. Drawing from behavioral theory and the threat-rigidity hypothesis, the paper explores firm acquisition behavior, in terms of type of acquisitions, before and during the recent economic downturn.

Design/methodology/approach

Using data on 385 acquisitions in Italy in the period 2007-2010, the paper tests hypotheses on how organizational slack and acquisition experience influence the likelihood of cross-border and diversifying acquisitions relative to domestic, non-diversifying acquisitions prior to and during the economic downturn.

Findings

Results suggest that the availability of financial resources and acquisition experience both have an important influence on acquisition behavior. Firms with greater slack and acquisition experience were more likely to make diversifying and/or cross-border acquisitions, compared to domestic non-diversifying acquisitions, particularly during an economic downturn, than firms with lower levels of slack and acquisition experience.

Originality/value

The paper extends behavioral theory and threat-rigidity hypothesis, highlighting their applicability to acquisition behavior across varying economic conditions. Slack resources and acquisition experience appear to be particularly salient during challenging economic times.

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Article
Publication date: 19 June 2017

Nathalie Spielmann

Wineries today are faced with the prospect of having to include environmental sustainability into their practices but implementation can be hard, complicated or even…

Abstract

Purpose

Wineries today are faced with the prospect of having to include environmental sustainability into their practices but implementation can be hard, complicated or even undesired. This research aims to examine firm features, specifically winery size and foreign direct investment, as potential sources of variability regarding environmental sustainability attitudes and practices.

Design/methodology/approach

Questionnaires were administered via telephone interviews with 63 wineries in France. Production surface and wine activities in other countries were the independent variables examined as potentially predicting environmental sustainability attitudes and practices, leading to competitive positioning and perceived firm success.

Findings

The findings clearly show that bigger wineries are more likely to practice environmental sustainability, but they do not necessarily have more positive attitudes toward environmental sustainability. For winery managers, firm size and environmental sustainability practices interact because they are perceived to lead to competitive advantages such as augmented product quality and better innovations. Larger firms are also more sensitive to micro pressures emanating from customers, competitors and distributors regarding environmental sustainability. Finally, wineries engaging in foreign direct investments have more positive attitudes toward and engage in more environmental sustainability practices than firms that remain domestic.

Originality/value

Rather than comparing firms that are environmentally sustainable versus firms that are not, this research examined actual firm characteristics that may influence management’s propensity to engage in environmental sustainability practices. This research provides explanations for why there are augmented environmental sustainability practices by larger wineries and the sources of subjective norms encouraging larger wineries, versus smaller wineries, to practice environmental sustainability.

Details

International Journal of Wine Business Research, vol. 29 no. 2
Type: Research Article
ISSN: 1751-1062

Keywords

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