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By examining the impact of product innovation on abnormal financial returns following the launch of new products, this study aims to test the explanatory power of a new compound measure of product innovativeness (Ganbaatar and Douglas, 2019).

It is a longitudinal study in which the authors used the compound product innovativeness score (CPIS) for the first time to measure product innovativeness. The abnormal financial returns are estimated through the event study design, where four different models are used. Artificial neural network analysis is done to determine the impact of the CPIS on abnormal returns by utilising a hexic polynomial regression model.

The authors find effect sizes that substantially exceed practically significant levels and that the CPIS explain 65% of the variance in the firm’s abnormal returns in market valuation. Moreover, new-to-the-market novelty predicts 83% of the variation, while new-to-the-firm (catch-up) innovation insignificantly impacts firm value.

This paper demonstrates how the CPIS, an objective and direct measure of product innovativeness, can be used to gain more insight into the innovation effect.

Implications for the business practice of this study include the necessity of relentless innovation by firms in contested differentiated markets, particularly where technological advance is ongoing. Larger and mature firms must practice corporate entrepreneurship to renew their products on a continuous basis to avoid slipping backwards in their markets. Innovation leadership, rather than following the leader, is also important to increase competitive advantage, given the result that innovation followship does not produce abnormal financial returns.

In this study, the authors focused on the effect of product innovativeness on firm performance. While the literature affirms a positive relationship between innovation and firm performance, the effect size of this relationship varies, due largely to the authors contend to simplistic measures of innovativeness. In this study, the authors adopt the relatively novel “compound” measure of product innovativeness (Ganbaatar and Douglas, 2019) to better encapsulate the nuances of both technical novelty and market novelty. This measure of product innovativeness is applicable to firms of all sizes but is more easily applied to entrepreneurial new ventures and SMEs, and it avoids the shortcomings of prior firm-level and subjective measures of innovativeness for both smaller and larger firms. Using a more effective analytical method (Artificial Neural Network), the authors investigated whether there is a “practically” significant effect size due to product innovation, which could be valuable for entrepreneurs in practice. The authors show that the CPIS measure can very effectively explain abnormalities in the stock market, exhibiting a moderate effect size and explaining 65% of the variation in abnormal returns.

The strategic entrepreneurship (SE) literature exists at the intersection of the strategy and entrepreneurship literatures and has grown rapidly over the past two decades. This study aims to document the proliferation of research papers and identifies the major thematic clusters of topics and other summary information for the SE research domain.

This is a systematic bibliometric review of 586 articles published over the period 2009–2019 in 143 journals. The inductive quantitative assessment of these articles uses meta-data driven techniques that prioritize reproducibility and rigor in the process of literature analysis.

This study identifies six main themes in the strategic literature, namely, Sustainable Competitive Advantage; Knowledge Management; Ecosystems; Strategy; Entrepreneurialism; and Organization and Management. It also reports data on a variety of issues including research techniques, country of data, co-author count and trends and differences between journals based on their journal impact factors and calls for more research in key areas.

An innovative original analytical tool was developed to facilitate the analysis of research papers in this growing field. This online tool allows multiple tags to be attached to each paper by multiple authors working simultaneously to identify keywords and other aspects that were subsequently used to identify six main thematic areas within the SE literature. This paper highlights emerging research trends and identifies gaps in the literature that provide opportunities for further research in this field.

There is a lack of theoretical development on the question of why people work long hours and the nature of “workaholism”. This paper seeks to demonstrate a variety of reasons that induce a person to work “excessively”.

This paper discerns three subcategories of the “work enthusiast”: “materialist”, “the low‐leisure” and the “perkaholic” hard workers. It is demonstrated that these work enthusiasts work long hours for relatively high job satisfaction, while workaholics gain relatively low job satisfaction. Inflicting negative externalities on fellow workers is argued to be a separate issue – any one of the hard workers might irk their fellow workers by working “too hard” or by their individual mannerisms. This paper uses the economist's utility‐maximization model to build a conceptual model of voluntary work effort that explains the work effort decision of individuals.

Individuals will work long hours when motivated to do so by the satisfaction they derive separately and collectively from income (materialism); leisure; perquisites; and work per se. It is argued that only the person who is strongly motivated by the latter reason is properly called a workaholic, and that the imposition of negative externalities on co‐workers is a separate issue that might also involve work enthusiasts.

The paper advances the understanding of work motivation and workaholic behavior and presents a series of researchable propositions for empirical testing.

Essentially there are three types of competitive bids or price quotes: fixed price bids, cost‐plus markup bids, and incentive (risk‐sharing) bids. An “Expected Present Value” (EPV) model of competitive bidding is presented which establishes the requirements for the maximisation of the firm's expected present value of net worth. Reconciliation of the EPVC and the markup procedure allows an examination of the issues that must be considered in order that the firm's bid prices and quotes best serve the objective of net worth maximisation when information search costs are expected to be prohibitive. Observations suggest that firms do not attempt to maximise their net worth, preferring instead to pursue target rates of capacity utilisation and profitability. Therefore the EPVC model does not explain or predict the behaviour of all bidding firms. A behavioural model is suggested, based on the positive starting point of business practice. This enables firms to do what they do better. Based on what they already do, it holds few surprises or complexities and requires little information on complex issues and so obviates the need for substantial expenditure on search costs.

We examine whether Douglas and Santerre's (1990) substitutes hypothesis obtains for bank holding companies (BHCs); i.e. whether degree of ownership concentration and salary incentives are alternative methods of aligning BHC CEO incentives with those of shareholders. Also examined is the relation between CEO salary and bonus and CEO tenure. Using a sample of 95 BHC drawn from the 1990 Forbes magazine compensation survey, we regress CEO salary and bonus against ROE, stock return, two measures of ownership concentration, and a CEO tenure variable. Our results 1) support the substitutes hypothesis as applied to BHCs, and, 2) find a negative relation between CEO salary and bonus and CEO tenure.

US Companies were widely reported to be investing millions of dollars over the last two decades to upgrade manufacturing and operating facilities to increase competitiveness in the global marketplace. These investments should have resulted in increased profitability. The observed performance of Fortune 500 Industrial companies fell short of these goals.

Failures may lead to ultimate success in both nature and business. Just as dynamic ecosystems depend on death to replace senescent organisms with vigorous growth, the termination of uneconomic activities is essential to wealth creation. This paper explores the benefits of failures, and uses aspects of the analogy between death and business failure to analyze how failures in business economize upon resources and lead to better firms and greater efficiencies. A distinguishing feature of our work is the analytic use of competitive markets to provide insights into the processes of success and failure. Recognizable patterns of business failures are discussed in an effort to provide entrepreneurs and managers with a basis for understanding and acting upon changing circumstances.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

This chapter explores how preservice teachers can use videos via social media to organize their ideas and enhance their understanding of content and pedagogical practices. It exemplifies how teacher development programs must embrace and become more in tune with societal practices and norms.

The methods of data collection for this study consist of participant observation of in-class activities (descriptive field notes reconstructing dialogue and activities), an open-ended questionnaire, and a focus group interview.

Five primary themes were revealed that describe preservice teachers’ scholarly experiences using Pinterest: igniting digital serendipity, Pinterest critic in relation to their thinking, Organizing and nesting knowledge, Picky pinning researcher, and Expert distributor of knowledge.

Teacher educators should consider how participants demonstrated a sense of pride in their scholarly creations and some began displaying modest amounts of expertise and characteristics of leadership within their local community both online and in-person.

Since the development of the COVID-19 vaccinations, questions surrounding race have been prominent in the literature on vaccine uptake. Early in the vaccine rollout, public health officials were concerned with the relatively lower rates of uptake among certain racial/ethnic minority groups. We suggest that this may also be patterned by racial/ethnic residential segregation, which previous work has demonstrated to be an important factor for both health and access to health care.

In this study, we examine county-level vaccination rates, racial/ethnic composition, and residential segregation across the U.S. We compile data from several sources, including the American Community Survey (ACS) and Centers for Disease Control (CDC) measured at the county level.

We find that just looking at the associations between racial/ethnic composition and vaccination rates, both percent Black and percent White are significant and negative, meaning that higher percentages of these groups in a county are associated with lower vaccination rates, whereas the opposite is the case for percent Latino. When we factor in segregation, as measured by the index of dissimilarity, the patterns change somewhat. Dissimilarity itself was not significant in the models across all groups, but when interacted with race/ethnic composition, it moderates the association. For both percent Black and percent White, the interaction with the Black-White dissimilarity index is significant and negative, meaning that it deepens the negative association between composition and the vaccination rate.

The analysis is only limited to county-level measures of racial/ethnic composition and vaccination rates, so we are unable to see at the individual-level who is getting vaccinated.

We find that segregation moderates the association between racial/ethnic composition and vaccination rates, suggesting that local race relations in a county helps contextualize the compositional effects of race/ethnicity.