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1 – 10 of over 2000
Open Access
Article
Publication date: 19 May 2022

Rosa Portela Forte and Sérgio Carvalho

The purpose of this study is to analyze the influence of the firms' external environment on their export intensity. More specifically, it assesses whether domestic market…

1743

Abstract

Purpose

The purpose of this study is to analyze the influence of the firms' external environment on their export intensity. More specifically, it assesses whether domestic market characteristics such as domestic demand and general export environment related to tradability across borders affect firms' export intensity.

Design/methodology/approach

The authors use a sample of 29,266 firms from nine European countries, for the period of 2010–2016, and test several estimation methods (random effects models, Tobit models, and Heckman's selection models).

Findings

Results show that external factors such as domestic demand and ease of trade across borders are important determinants of firms' export intensity. Moreover, results reveal that firm's internal characteristics such as age, size and productivity also play an import role.

Originality/value

Studies about the influence of the firms' external environment on firms' export intensity are scarce because most of them are confined to a single country context. In this way, the present study contributes to the body of knowledge on the influence that external factors can have on firms' export performance by analyzing firms from nine European countries, which has important policy implications.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Open Access
Article
Publication date: 18 June 2019

Stavros Kourtzidis and Nickolaos G. Tzeremes

The purpose of this paper is to use tenets of the complexity theory in order to study the effect of various determinants of firm’s performance, such as CEO’s compensation and age…

4326

Abstract

Purpose

The purpose of this paper is to use tenets of the complexity theory in order to study the effect of various determinants of firm’s performance, such as CEO’s compensation and age, for the case of 72 insurance companies.

Design/methodology/approach

The authors identify the asymmetries in the data set by creating quantiles and using contrarian analysis. Instead of ignoring this information and use a main effects approach, all the available information in the data set is taken into account. For this purpose, the authors use qualitative comparative analysis to find alternative equifinal routes toward high firm performance.

Findings

Five configurations are found which lead to high performance. Every one of the five configurations is found to be sufficient but not necessary for high firm performance.

Originality/value

The research findings contribute to a better understanding of the determinants of firm’s performance taking into account the asymmetries in the data set. The authors identify alternative paths toward high firm performance, which could be vital information for the decision maker inside a firm.

Details

European Journal of Management and Business Economics, vol. 29 no. 1
Type: Research Article
ISSN: 2444-8494

Keywords

Open Access
Article
Publication date: 26 September 2023

Giovanna Gavana, Pietro Gottardo and Anna Maria Moisello

The aim of this paper is to examine the effect of structural and demographic board diversity as well as board tenure on family firms' environmental performance, by analyzing the…

1203

Abstract

Purpose

The aim of this paper is to examine the effect of structural and demographic board diversity as well as board tenure on family firms' environmental performance, by analyzing the differences between family and non-family businesses and within family firms.

Design/methodology/approach

Tobit regressions are applied to investigate the effect of independent directors, CEO non-duality, board gender diversity and board tenure on environmental performance. The study also controls for other board and firm characteristics, as well as for time, industry and country-fixed effects. In doing so, the authors rely on a sample of non-financial listed firms from France, Germany, Italy, Spain and Portugal over the period 2014–2021.

Findings

The authors find that women on the board positively influence environmental performance and this effect is significant only in family firms, although board tenure negatively moderates the relationship. Board independence significantly affects environmental performance only in non-family firms. A strong presence of family directors has a negative effect on family firms' environmental performance, especially when directors' turnover is low.

Originality/value

This paper examines the unexplored relationship between structural board diversity and environmental performance in family companies. This study provides empirical evidence on the association between gender diversity and family firms' environmental performance focusing for the first time on a European setting. Moreover, this study provides evidence of a different effect of board tenure in family and non-family businesses.

Details

Journal of Family Business Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-6238

Keywords

Open Access
Article
Publication date: 11 August 2022

Bejtush Ademi and Nora Johanne Klungseth

The purpose of this paper is to investigate the relationship between a company’s environmental, social and governance (ESG) performance and its financial performance. This paper…

12106

Abstract

Purpose

The purpose of this paper is to investigate the relationship between a company’s environmental, social and governance (ESG) performance and its financial performance. This paper also investigates the relationship between ESG performance and a company’s market valuation. This paper provides convincing empirical evidence that delivering superior ESG performance pays off financially.

Design/methodology/approach

The financial data and ESG scores of 150 publicly traded companies listed in the Standard and Poor’s 500 index for 2017–2020, comprising 5,750 observations, were collected. STATA was used to run a fixed-effect regression and a weighted least squares model to analyze the panel data.

Findings

The results of the empirical analysis suggest that companies with superior ESG performance perform better financially and are valued higher in the market compared to their industry peers. The ESG rating score impacts both return-on-capital-employed as a proxy for financial performance and Tobin’s Q as a proxy for the market valuation of a company.

Originality/value

This study contributes to the existing research on ESG performance and financial performance relationship by providing empirical evidence to resolve confusion in the existing literature caused by contradictory evidence. Taking advantage of worldwide crisis caused by the COVID-19 pandemic, this study shows that a positive relationship between ESG performance and a company’s market valuation holds even during times of unexpected crises. Further, this study contributes to business practitioners’ knowledge by showing that ESG aspects constitute highly relevant non-financial information that impact the market’s perception of a company and that investing in sustainability positively impacts a company’s bottom line.

Details

Journal of Global Responsibility, vol. 13 no. 4
Type: Research Article
ISSN: 2041-2568

Keywords

Open Access
Article
Publication date: 28 July 2023

Beatriz Forés, Alba Puig-Denia, José María Fernández-Yáñez and Montserrat Boronat-Navarro

This study adopts the dynamic capabilities perspective to analyze environmental performance in family firms and explores the moderating effects that both family involvement in the…

1125

Abstract

Purpose

This study adopts the dynamic capabilities perspective to analyze environmental performance in family firms and explores the moderating effects that both family involvement in the Top Management Team (TMT) and long-term orientation (LTO) exert on the relationship between dynamic capabilities and environmental performance.

Design/methodology/approach

The authors test the hypotheses on a database of 748 family tourism firms, using hierarchical regression analysis.

Findings

The authors' results show that both variables have a beneficial effect on building the dynamic capabilities to be applied to improving environmental performance. However, the moderating effect of family involvement is revealed to be more complex than that of LTO. Having a high degree of family managerial involvement positively moderates the effect of dynamic capabilities on environmental performance but only in family firms with highly-developed dynamic capabilities; conversely, in family firms with lower levels of dynamic capabilities not having this family involvement in the TMT is better.

Originality/value

This study helps advance the research on Spanish family tourism firms by adopting an approach that unveils the heterogeneity in dynamic capabilities among said firms, driven by the firms' idiosyncratic features in terms of family involvement in the TMT and their LTO. The article also provides practical insights for family business owners, managers and advisors and outlines important directions for future research.

Open Access
Article
Publication date: 27 March 2024

Sara Osama Hassan Hosny and Gamal Sayed AbdelAziz

The current study aims to propose and empirically investigate a conceptual model of the most relevant antecedents and consequences of Corporate Social Responsibility (CSR…

Abstract

Purpose

The current study aims to propose and empirically investigate a conceptual model of the most relevant antecedents and consequences of Corporate Social Responsibility (CSR) attribution, thus providing a practical and concise model as well as examining brand attachment as a mediator explaining the relationship between CSR attribution and its consequences.

Design/methodology/approach

A between-subjects experimental design was employed. The study included two experimental conditions; intrinsic and extrinsic CSR attribution and a control condition. An online self-administered survey was utilised for data collection. The sample was a convenience sample of 336 university students. Both one-way between-groups ANOVA and Partial Least Squares-Structural Equation Modelling (PLS-SEM) were utilised for hypotheses testing.

Findings

The most significant antecedents of CSR attribution in order of importance are the firm's approach to CSR communication, past corporate social performance, CSR type and the firm's call for customers' participation in its CSR. CSR attribution exerted a significant direct positive impact on brand attachment and trust. Three significant indirect consequences of CSR attribution were PWOM intention, purchase intention and brand loyalty intention. Whereas trust played a significant mediating role between CSR attribution and its three indirect consequences, brand attachment exerted significant mediation only between CSR attribution and brand loyalty intention. Brand attachment might mediate the relationship between CSR attribution and purchase intention. However, brand attachment failed to play a mediating role between CSR attribution and PWOM intention.

Originality/value

Several studies marginally investigated CSR attribution. Despite the vital role of CSR attribution in how consumers receive firms' CSR engagement, the availability of CSR attribution-centric studies is limited. By introducing a model of the most relevant antecedents and consequences of CSR attribution, this study aids in understanding the psychological mechanism underlying consumers' CSR attribution and provides valuable implications.

Details

Journal of Humanities and Applied Social Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2632-279X

Keywords

Open Access
Article
Publication date: 4 May 2018

Jafar Rezaei and Roland Ortt

Earlier studies have generally shown a positive relationship between entrepreneurial orientation (EO) and the overall performance of the firm. The purpose of this paper is to…

31535

Abstract

Purpose

Earlier studies have generally shown a positive relationship between entrepreneurial orientation (EO) and the overall performance of the firm. The purpose of this paper is to understand in more detail how EO influences firm performance. It adds to the literature by distinguishing performances of different functions in a firm and by exploring how the dimensions of EO influence these functional performances and, in turn, overall firm performance.

Design/methodology/approach

This study examined the relationship between three dimensions of EO (innovativeness, proactiveness, risk-taking), three types of functional performances of firms (R&D performance, production performance, marketing and sales performance) and the overall performance of firms. The data are collected from 279 high-tech small-to-medium-sized enterprises (SMEs) using a postal survey. The proposed hypotheses are tested using structural equation modeling (SEM).

Findings

The results indicate that the dimensions of (EO) are related in different ways to the performance of functions in a firm. A positive relationship is observed between innovativeness and R&D performance and between proactiveness and marketing and sales performance. A negative relationship exists between risk-taking and production performance. The results also show a sequential positive relationship from R&D via production and marketing and sales to overall performance of firms. Therefore, it is concluded that the R&D, production and marketing and sales functions reinforce each other in a logic order and are complementary in their effect on overall firm performance.

Practical implications

The results imply that the three functions, R&D, production and marketing and sales, in a firm play different roles, both in the firm’s EO and in their contribution to overall performance. Managers can use the findings to monitor and influence the performance of different functions in a firm to increase overall firm performance.

Originality/value

The first contribution of this study is that it unravels (i) which dimensions of EO have an effect on the performance of separate functions in a firm, indicating that functions contribute in different ways to entrepreneurial orientation of the firm. A second contribution is assessing how the performance of these functions influence the firm’s overall performance. This paper fills a gap in the literature by exploring internal firm variables mediating the relationship between EO and overall firm performance and contributes to the discussion on the contradictory results regarding the relationship between risk-taking and firm performance.

Open Access
Article
Publication date: 15 November 2021

Michal Jirásek

A firm will respond to performance feedback, i.e. a comparison of its current performance with the goals to which it aspires, by means of changes in its search activity. There is…

Abstract

Purpose

A firm will respond to performance feedback, i.e. a comparison of its current performance with the goals to which it aspires, by means of changes in its search activity. There is an emerging body of literature that studies how such behavioral responses are shaped by important decision-makers inside firms. The study focuses on the corporate board – one of the most influential decision-making groups in terms of strategy. More specifically, the study aims to study the moderation effect of the size, turnover and age diversity of the board.

Design/methodology/approach

The sample is based on the largest listed German automobile and manufacturing firms followed between the years 2001 and 2015. The sample is analyzed using fixed-effects panel data models.

Findings

The findings indicate that the age diversity of the corporate board and, partially, also the turnover of its members moderate firms' responsiveness to performance feedback. On the other hand, the size of the board does not seem to play a role. The study, therefore, supports the notion of taking into account the characteristics of the corporate board when analyzing strategic decision-making and points to areas for further research.

Originality/value

The study contributes to the literature by empirically testing the moderating effect of three characteristics of corporate boards that have not been largely tested in the literature to date.

Details

Journal of Strategy and Management, vol. 16 no. 1
Type: Research Article
ISSN: 1755-425X

Keywords

Open Access
Article
Publication date: 27 September 2022

Tuire Hautala-Kankaanpää

The study examines the impact of digital platforms and supply chain capability on operational performance and tests the mediation effect of supply chain capability. Further, the…

5537

Abstract

Purpose

The study examines the impact of digital platforms and supply chain capability on operational performance and tests the mediation effect of supply chain capability. Further, the purpose is to examine the moderating effect of digital culture and sharpen our knowledge of how organizational culture as a contextual factor affects the firm's digitalization.

Design/methodology/approach

The data were harvested from 194 Finnish manufacturing companies, and structural equation modeling was used to test the hypotheses.

Findings

The findings show that digital platforms positively and significantly affect supply chain capability. Moreover, supply chain capability mediates the relation between digital platforms and operational performance. Further, this study confirms that digital culture is a contextual factor that explains the differences in the effects of digital platforms on firm performance.

Originality/value

This study is one of the first attempts to examine the effect of digital culture in the context of digital platforms, supply chain capabilities, and operational performance.

Details

Business Process Management Journal, vol. 28 no. 8
Type: Research Article
ISSN: 1463-7154

Keywords

Open Access
Article
Publication date: 27 May 2022

Sangho Chae, Byung-Gak Son, Tingting Yan and Yang S. Yang

This study investigates the extent to which structural equivalence between acquiring and target firms is associated with post-merger and acquisition (M&A) performance—a…

2507

Abstract

Purpose

This study investigates the extent to which structural equivalence between acquiring and target firms is associated with post-merger and acquisition (M&A) performance—a relationship that is proposed to be moderated by industry-level vertical relatedness between acquiring and target firms.

Design/methodology/approach

Applying social network analysis and regression, this study analyzes a buyer–supplier relationship network dataset of 279 M&A deals completed between 2010 and 2017 to test the hypotheses. Structural equivalence is measured as the proportion of common customers and suppliers between an acquiring firm and a target firm.

Findings

Supporting a view about the importance of supply chains in explaining M&As outcomes, the results suggest that the structural equivalence in the supplier network is positively associated with post-M&A firm performance. The results also show that the effect of the structural equivalence in the customer network is moderated by vertical relatedness between two merging firms (i.e. structural equivalence contributes to post-M&A performance when vertical industry relatedness is high).

Originality/value

This study contributes to the M&A and supply network literature by investigating the performance implications of structural equivalence in supplier and customer networks, demonstrating the importance of taking a supply chain view when explaining M&As outcomes. Specifically, the authors suggest considering structural equivalence as a new type of relatedness between merging firms (i.e. relatedness in network resources in explaining post-M&A performance). It also indicates how industry-level vertical resource relatedness, which is about relatedness in internal resources between the two firms, could interact with firm-level network resource relatedness, which is about relatedness in external supply chain resources between the two firms, in affecting post-M&A performance.

Details

International Journal of Operations & Production Management, vol. 42 no. 8
Type: Research Article
ISSN: 0144-3577

Keywords

1 – 10 of over 2000