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1 – 10 of over 135000José A.D. Machuca, Juan A. Marin-Garcia and Rafaela Alfalla-Luque
This paper analyzes whether the Triple-A supply chain (SC)–competitive advantage (CA) relationship is influenced by the country context and considers the case of emerging vs…
Abstract
Purpose
This paper analyzes whether the Triple-A supply chain (SC)–competitive advantage (CA) relationship is influenced by the country context and considers the case of emerging vs developed countries. Any differences in the importance of the three Triple-A SC dimensions (agility, adaptability and alignment) and a potential synergy effect among them when pursuing CA are also analyzed.
Design/methodology/approach
Partial least squares structural equation modeling (PLS-SEM) method is applied to an international multiple informant sample of 304 manufacturing plants in nine developed and five emerging countries.
Findings
A significant positive relationship is found between the Triple-A SC and CA in the full sample and in the two separate samples of emerging and developed countries, which is more intense in the emerging countries. For the same samples, it is also concluded that (1) there are no significant differences in the importance of SC adaptability (SC-Ad), SC agility (SC-Ag) and SC alignment (SC-Al) as levers in the Triple-A SC–CA relationship and (2) a synergy effect among the Triple-A SC dimensions when pursuing CA is not supported.
Research limitations/implications
The present study brings new evidence to the previous research on Triple-A SC and its relationship with CA in different country contexts. For managers, this work (1) shows that Triple A should be considered in the design of global SCs irrespective of the country context and (2) offers a first approach for determining the Triple-A SC levers that must be taken into consideration when pursuing a CA.
Originality/value
This paper contributes to Triple-A SC theory development. It is the first research study that analyzes the effect of the country context on the Triple-A SC–CA relationship and the importance of each of the Triple-A SC dimensions and their possible synergy effect when pursuing CA using a multiinformant international sample taken from different country contexts.
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Dante Baiardo Cavalcante Viana Jr, Isabel Maria Estima Costa Lourenço, Marília Ohlson and Gerlando Augusto S F de Lima
This study investigates how the association between national culture and earnings management compares between developed and emerging countries.
Abstract
Purpose
This study investigates how the association between national culture and earnings management compares between developed and emerging countries.
Design/methodology/approach
The empirical analysis relies on a sample of 6,313 firm-year observations from 11 emerging markets and 27,605 firm-year observations from 22 developed countries. The authors use ordinary least squares regression methods to test the hypotheses of the study.
Findings
Based on Hofstede's (2011) cultural dimensions, the authors find that firms from countries with a higher level of uncertainty avoidance and individualism are less likely to engage in earnings management, but the effect of uncertainty avoidance (individualism) is more (less) pronounced in the emerging countries. Moreover, the authors demonstrate that firms from emerging (developed) countries with higher levels of power distance and masculinity are less (more) likely to engage in earnings management. Finally, the authors find evidence of a trade-off between accruals-based and real earnings management in firms from countries with greater long-term orientation and an indulgence cultural dimension.
Originality/value
This paper adds to the literature by theoretically discussing and empirically analysing the role that developed and emerging countries' development plays on the effect of national culture on earnings management.
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Marzanna Katarzyna Witek-Hajduk and Anna Grudecka
This study aims to investigate how brand name (home-emerging-country vs foreign-developed-country brand name) applied by emerging market company in conjunction with revealing the…
Abstract
Purpose
This study aims to investigate how brand name (home-emerging-country vs foreign-developed-country brand name) applied by emerging market company in conjunction with revealing the actual country-of-brand-origin (COBO) (revealed vs non-revealed origin from developed vs emerging country) affects purchase intensions of durable goods.
Design/methodology/approach
An experimental conjoint analysis and multilevel linear models were applied.
Findings
Results demonstrate that brand name differentiates consumers’ purchase intentions. However, not every foreign-developed-country brand name may lead to the increase of purchase intentions. Revealing the actual emerging market’s COBO for brands with developed-country brand name may lead to lowering purchase intentions. Moreover, consumer ethnocentrism and materialism moderate the relationship between the brand type in terms of brand name and purchase intentions.
Originality/value
This study contributes to the international marketing literature by simultaneous examination of the impact of brand name type and revealing actual COBO on purchase intentions and the moderating effects of ethnocentrism and materialism, in emerging markets’ context. It also offers novel insights for brand managers regarding the influence of emerging markets’ companies branding strategies on consumer purchase intentions.
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Fernando Angulo-Ruiz, Albena Pergelova and William X. Wei
This research aims to assess variations of motivations when studying international location decisions. In particular, this study aims to assess the influence of diverse…
Abstract
Purpose
This research aims to assess variations of motivations when studying international location decisions. In particular, this study aims to assess the influence of diverse motivations – seeking technology, seeking brand assets, seeking markets, seeking resources and escaping institutional constraints – as determinants of the international location choice of emerging market multinational enterprises (EM MNEs) entering least developed, emerging, and developed countries.
Design/methodology/approach
The authors develop a set of hypotheses based on the ownership–location–internalization framework and complement it with an institutional perspective. The conceptual model posits that the different internationalization motivations (seeking technology, seeking brand assets, seeking markets, seeking resources and escaping institutional constraints) will impact the location choice of EM MNEs in developed economies, emerging markets or least developed countries. This study uses the 2013 survey data collected by the China Council for the Promotion of International Trade and the Asia Pacific Foundation of Canada. The final sample of analysis of this research includes 693 observations.
Findings
After controlling for several variables, two-stage Heckman regressions show there is a variation of motivations when EM MNEs enter least developed countries, emerging markets and developed economies. EM MNEs are motivated to enter least developed countries to seek markets and resources. Conversely, those firms enter developed countries in their search for technological assets and to escape institutional constraints at home. While the present study findings show a clear difference in the motivations that lead to location choice in least developed vs developed countries, the results are not as clear for location in other emerging countries.
Research limitations/implications
The paper offers empirical support for the importance of motivations as crucial determinants of location choice.
Originality/value
This paper provides a detailed quantitative study on the internationalization location choice of EM MNEs based on their motivations. Though theoretical models underscore the importance of motivations, we know very little about how, in practice, motivations drive location choice. This study contributes to the international location choice literature a deeper understanding of how diverse motivations drive choices of expansion into developed economies, emerging markets or least developed countries.
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Carolina Macagnani dos Santos, Luiz Eduardo Gaio, Tabajara Pimenta Junior and Eduardo Garbes Cicconi
The purpose of this paper is to investigate whether the relationship of interdependence and contagion between BRICS countries and emerging non-BRICS countries is similar to that…
Abstract
Purpose
The purpose of this paper is to investigate whether the relationship of interdependence and contagion between BRICS countries and emerging non-BRICS countries is similar to that observed between developed countries and emerging BRICS countries.
Design/methodology/approach
The authors analyzed 15 markets: 5 BRICS, 5 developed (USA, Japan, Germany, England and France) and 5 emerging markets (Mexico, Indonesia, Turkey, Iran and Poland). Based on the time series of returns of the main stock indexes of each country, referring to the period from 2008 to 2018, the authors applied Granger causality tests, vector auto-regression and the dynamic conditional correlation-GARCH model.
Findings
The results led to the rejection of the main hypothesis and showed adherence to the behaviors predicted in the literature for the relations between the groups of markets.
Originality/value
This paper, besides analyzing the interdependence between markets in times of crisis, analyzes the effect of contagion between developed and emerging markets.
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Andreas Größler, Bjørge Timenes Laugen, Rebecca Arkader and Afonso Fleury
The vast majority of literature relating to operations management originates from studies in developed markets. Emerging markets are increasingly important in global business…
Abstract
Purpose
The vast majority of literature relating to operations management originates from studies in developed markets. Emerging markets are increasingly important in global business. With this in mind, the purpose of this paper is to analyze differences in outsourcing strategies between manufacturing firms from emerging markets and from developed markets.
Design/methodology/approach
The paper is based on statistical analyses of a large data set of manufacturing firms obtained from the International Manufacturing Strategy Survey (IMSS).
Findings
The findings suggest that companies that outsource internationally focus on achieving cost benefits, while companies that outsource domestically focus on achieving capacity flexibility. In addition, the reasons to outsource were found to be independent of the location of firms in both emerging and developed markets. However, within the group of firms from emerging markets, strategies seem to differ according to whether firms are domestically owned or are subsidiaries of companies from developed markets.
Practical implications
The decisions of firms to outsource do not differ much whether the firms are located in developed‐ or in emerging‐market economies. Firms outsource domestically when they want to increase their capacity flexibility; they outsource internationally when looking for cost advantages.
Originality/value
The value of the paper is that it illuminates an important contemporary phenomenon based on analyses on data from a large‐scale international survey encompassing firms both in developed and in emerging markets.
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Maretno Agus Harjoto and Fabrizio Rossi
This study examines the market reaction to the World Health Organization (WHO) announcement of the novel coronavirus disease 2019 (COVID-19) as a global pandemic on the emerging…
Abstract
Purpose
This study examines the market reaction to the World Health Organization (WHO) announcement of the novel coronavirus disease 2019 (COVID-19) as a global pandemic on the emerging equity markets and compares the reaction with developed markets. This study also compares the market reactions to the COVID-19 pandemic with the market reactions to the 2008 global financial crisis.
Design/methodology/approach
Using the Morgan Stanley Capital International daily stock indices data and the Carhart and the GARCH(1,1) models for an event study, the authors examine the cumulative abnormal returns during 30 and 10 trading days and the extended 60 days before and after the WHO pandemic announcement. It also compares the market reactions during the COVID-19 pandemic with the reactions to the Lehman Brothers' bankruptcy announcement during the 2008 global financial crisis.
Findings
This study finds that the COVID-19 pandemic had a significantly greater negative impact to the stock markets in emerging countries than in the developed countries. The negative impact on the emerging markets is more pronounced for firms with small market capitalizations and for growth stocks. The negative impact of the COVID-19 pandemic is stronger in the energy and financial sectors in both emerging and developed markets. The positive impact of the COVID-19 pandemic occurred in healthcare and telecommunications for the emerging markets and information technology for the developed markets. This study also finds that the equity markets in both emerging and developed countries recovered faster from the COVID-19 pandemic relative to the 2008 global financial crisis.
Social implications
Investors' desire to diversify their risks across different countries and sectors in the emerging markets could bring superior returns. The diversification strategies bring critical financial supports to forestall the contagion of COVID-19, to protect lives, and to save the emerging economies, especially for those financially constrained countries that are facing twin health and economic shocks by channeling their investments to countries with weak healthcare systems.
Originality/value
This study extends the literature that examines market reactions to stock market shocks by examining the market reactions to the COVID-19 outbreak on the emerging and developed equity markets across different market capitalizations, valuation and sectors. This study also finds that the markets recovered quicker from the COVID-19 pandemic announcement than during the 2008 global financial crisis.
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Lia Zarantonello, Silvia Grappi, Marcello Formisano and Josko Brakus
The purpose of this paper is to investigate the relationship between consumer-based brand equity (CBBE) – conceptualized as consisting of brand awareness, perceived quality, brand…
Abstract
Purpose
The purpose of this paper is to investigate the relationship between consumer-based brand equity (CBBE) – conceptualized as consisting of brand awareness, perceived quality, brand associations, perceived value and brand loyalty – and market share for different brand types (global versus local) in different country groups (developed versus emerging).
Design/methodology/approach
This paper combines consumer–survey-based data, experts' coding and retail panel data of fast-moving consumer goods (FMCG) brands in 29 countries.
Findings
In developed countries, the relationship between each CBBE component (except for brand associations) with market share is stronger for local than global brands. In emerging countries, the relationship between each CBBE component with market share is stronger for global than local brands.
Research limitations/implications
This paper contributes to better understanding the relationships between CBBE and market share by showing how CBBE components relate to market share for different brand types (global and local) in different country groups (developed and emerging). Limitations arise from constraints related to existing datasets (e.g. limited number of variables and type of product categories considered).
Practical implications
This paper offers insights to managers working in multinational FMCG companies, as it suggests which CBBE components relate more strongly to the global or local brands' market shares in different countries.
Originality/value
This paper analyzes the relationship between CBBE and market share by focusing on different brand types (global versus local) in different country groups (developed versus emerging). It does so by using a company dataset and showing correspondence with conceptualizations and measures of brand equity from the academic literature. It also considers a large set of 29 countries, extending research beyond national boundaries.
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Hormoz Movassaghi, Alka Bramhandkar and Milen Shikov
This study examines the fund‐level correlates of return and share price discount or premium for the closed end funds (CEFs) investing in emerging and developed capital markets. It…
Abstract
This study examines the fund‐level correlates of return and share price discount or premium for the closed end funds (CEFs) investing in emerging and developed capital markets. It also compares the performance of CEFs investing in emerging markets with similar types of funds that invested in the developed markets, especially significant in light of recent economic crises experienced by a number of such emerging economies and their ripple (contagion) effects felt in other emerging or developed capital markets. Lastly, as emerging markets constitute a wide array of countries with very different economic records, this paper looks into the performance of emerging markets CEFs by region as well as the performance of single‐country versus regional funds. Findings confirmed results of many studies of domestic and international open‐ or closed‐end funds on determinants of return and share price discount or premium. Emerging capital markets also continued to provide an outlet for international investors to improve their portfolio return despite significant volatility that surrounded them during the study period. Lastly, this study did not find any compelling evidence for consistent superior performance by CEFs investing in any particular region or country within the emerging markets.
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