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1 – 10 of over 1000A growing body of literature analyzes eco-innovation in the wine industry, specifically focusing on the internal and external factors that contribute to sustainable innovation in…
Abstract
Purpose
A growing body of literature analyzes eco-innovation in the wine industry, specifically focusing on the internal and external factors that contribute to sustainable innovation in wineries. The purpose of this study is to classify wineries according to their eco-innovation strategy and investigate variations in innovation groups concerning networking and socio-demographic characteristics.
Design/methodology/approach
The authors use an original firm-level survey conducted between June 2022 and January 2023 to study eco-innovation practices of 234 Hungarian winemakers using four groups of indicators: marketing, organizational, process and product innovations. The authors apply principal component analysis and cluster analysis to identify eco-innovation dimensions and group wineries. The authors also investigate the relationship between eco-innovation strategies, determinants and firm-specific characteristics.
Findings
The estimations identify two innovation modes: with Cluster 1 (characterized by innovative wineries) surpassing Cluster 2 (comprising less innovative wineries) in all aspects. Marketing and process innovations were more widespread than product and organizational innovations. The results confirm the importance of firm and manager characteristics, corporate organization and size, age and education of management influence innovation activity.
Research limitations/implications
The cross-sectional nature of the survey provides a snapshot of the wine industry. To identify changing trends, it is beneficial to conduct follow-up research and ongoing monitoring for a more comprehensive understanding of the dynamics of eco-innovation over time. The study offers valuable information about the Hungarian wine sector, but generalization of results to other geographic areas or wine-producing regions should be careful. The unique characteristics of particular regions might have a different effect on the dynamics of eco-innovation. Comparative studies across different wine regions or countries may reveal regional variations in eco-innovation strategies and the impact of local contexts.
Practical implications
The study highlights the priority of human elements, such as the commitment of owners and managers to sustainability in driving force for innovation. The ability of businesses to absorb new knowledge and the exchange of information within organizations is crucial in promoting innovation. Considering the results of the survey, managers should proactively strive to improve knowledge transfer and information sharing within their organizations and establish cooperative alliances with universities, research institutes, suppliers, industry bodies and associations and global consultancy firms. Such knowledge-based cooperation can counterweight the innovative inertia of the micro and small enterprises representing the Hungarian wine sector.
Social implications
To address the issue of “innovative inertia” faced by micro and small businesses in the wine sector, policymakers may implement focused supports, such as educational initiatives and grants, to augment their understanding and promote sustainable innovation. They should initiate intra- and inter-cluster connections and cooperations. Incentives, such as tax reduction or financial support, may stimulate wineries to introduce eco-innovation practices. Policymakers could also streamline the process of obtaining funding or grants for wineries interested in investing in cutting-edge solutions, such as renewable energy or advanced cultivation technologies to accelerate the adoption of sustainable practices.
Originality/value
This study contributes to the eco-innovation literature by providing insights into the drivers and practices of wineries in Hungary. The results emphasize the significance of networking, sharing of knowledge and firm/manager-specific characteristics in influencing eco-innovation in the wine industry.
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Muanfhun Ratanavanich and Peerayuth Charoensukmongkol
This study aims to analyze the effect of entrepreneurs’ improvisational behavior on business risk-taking and opportunity recognition, as well as to analyze its subsequent impact…
Abstract
Purpose
This study aims to analyze the effect of entrepreneurs’ improvisational behavior on business risk-taking and opportunity recognition, as well as to analyze its subsequent impact on firm performance. Moreover, this study examined whether the effect of entrepreneurs’ improvisational behavior on business risk-taking and opportunity recognition could be moderated by firm size and the business experience of entrepreneurs.
Design/methodology/approach
Online survey data were collected from 304 firms in Thailand that were randomly selected from a business directory. The data were assessed using partial least squares structural modeling.
Findings
The results confirmed that entrepreneurs who exhibited high levels of improvisational behavior tended to report that their firms engaged more actively in risk-taking and opportunity recognition. Moreover, risk-taking and opportunity recognition played a chain mediating effect in explaining the association between the improvisational behavior of entrepreneurs and firm performance. Regarding the moderating effects, this paper found that firm size negatively moderated the effect of improvisational behavior on risk-taking and opportunity recognition, while business experience of entrepreneurs only positively moderated the effect of improvisational behavior on risk-taking.
Originality/value
This study provided new knowledge by showing that improvisational behavior of entrepreneurs should be integrated with other firm advantages determined by firm size and the business experience of entrepreneurs to strengthen the ability to be more effective at risk-taking and opportunity recognition.
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The growing attention to green supply chain transparency prompts firms to disclose their environmental efforts and manage environmental issues along supply chains. Drawn upon…
Abstract
Purpose
The growing attention to green supply chain transparency prompts firms to disclose their environmental efforts and manage environmental issues along supply chains. Drawn upon diffusion theory, this study aims to investigate how customers’ environmental efforts can be diffused to suppliers for similar actions, as well as how customers’ (diffusors’) characteristics and suppliers’ (followers’) capability in digital technology application moderate the relationship.
Design/methodology/approach
This study collects secondary data of 1,514 unique customer-supplier dyad year observations of Chinese listed firms and their disclosed environmental efforts from 2009 to 2022. A fixed-effect regression model is used to test the hypotheses.
Findings
This study reveals a positive association between customers’ disclosed environmental efforts and those of their suppliers. Furthermore, the relationship is strengthened when customers are state-owned or when suppliers possess higher levels of digital technology application capability. These findings remain robust when alternative measures of variables are employed.
Originality/value
This study contributes to the supply chain transparency literature by uncovering the diffusion mechanism of environmental efforts from customers to their suppliers. It further identifies moderators for this diffusion, including customers’ (diffusors’) ownership and suppliers’ (followers’) capability. Lastly, our study extends the applicability of diffusion theory within a buyer–supplier context.
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Saswati Tripathi, Siddhartha Shankar Roy and Bijoy Talukder
This paper analyses and assesses the effect of firm-specific determinants (FSDs) on supply-chain performance (SCP) and export performance (EP). It examines SCP’s influence on EP…
Abstract
Purpose
This paper analyses and assesses the effect of firm-specific determinants (FSDs) on supply-chain performance (SCP) and export performance (EP). It examines SCP’s influence on EP and its mediating effect on the relationship between FSD and EP.
Design/methodology/approach
This paper develops a theoretical framework based on the resource-based view (RBV) and dynamic-capability theory to understand SCP’s role in the FSD-EP link while empirically validating using the Indian automobile industry segments (IAIS) data. The sample frame comprises all listed firms in IAIS between the financial year 2010-11 and 2021–22, with continuous data availability throughout the considered timeline. The paper employs factor analysis for dimension reduction, a panel-data-fixed-effect model to analyze the relationships, bootstrap to test the mediation effect and focus-group discussion for validating the results obtained through statistical analyses.
Findings
FSD directly influences SCP’s efficiency aspect and EP. Distribution efficiency and inventory efficiency characteristics of SCP directly impact EP and completely mediate the relationship between FSD and EP.
Practical implications
This study provides significant insights into how firms can increase EP by focusing on firm-specific and SCP-related factors. To improve EP, firms should concentrate on enhancing distribution and inventory efficiencies. Firms must focus on critical firm-level factors like age, size and raw-material import capability to increase their ability to solve SC-specific barriers and improve SCP, resulting in enhanced exports.
Originality/value
This study investigates the impacts of FSD on SCP and EP and examines the mediating effect of SCP on the relationship between FSD and EP. Such a mediating role of SCP has rarely been probed in the literature.
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Yu Zhou, Jiaxin Liu and Dongliang Lei
This paper aims to investigate whether the two dominant financial reporting regimes, US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting…
Abstract
Purpose
This paper aims to investigate whether the two dominant financial reporting regimes, US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS), are associated with audit pricing and audit report lags.
Design/methodology/approach
In 2007, the US SEC eliminated the requirement for foreign registrants to reconcile their financial statements to US GAAP from IFRS. In this post-reconciliation setting in the USA, the authors use panel ordinary least square regressions to examine a sample of foreign firms cross-listed in the USA reporting under IFRS and US domestic firms reporting under US GAAP during the fiscal year 2007–2019.
Findings
The authors find that the firms reporting under IFRS have longer audit report lags than firms reporting under US GAAP. In addition, the authors find that firms reporting under IFRS pay higher audit fees than their US GAAP counterparts. The results are robust after controlling for the firm- and country-specific characteristics as well as using propensity-score matching.
Originality/value
To the best of the authors’ knowledge, this study is the first to provide empirical evidence that the differences between the two reporting regimes are associated with auditor behavior, possibly through additional audit efforts and audit complexity associated with auditing the principle-based IFRS relative to the rule-based US GAAP.
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Foreign subsidiaries of multinational enterprises (MNEs) operate in complex and competitive international environments, implement market and non-market strategies, manage…
Abstract
Purpose
Foreign subsidiaries of multinational enterprises (MNEs) operate in complex and competitive international environments, implement market and non-market strategies, manage resources and value-added activities and contribute to the overall performance of their parent firms. Thus, the research question on the determinants of MNE foreign subsidiaries’ performance is of interest to managers and academic researchers. The empirical literature has flourished over the recent decades; however, the domains are fragmented, and the findings are inclusive. The purpose of this study is to systematically review, analyse and synthesize the empirical articles in this area, identify research gaps and suggest a future research agenda.
Design/methodology/approach
This study uses the qualitative content analysis method in reviewing and analysing 150 articles published in 24 scholarly journals during the period 2000–2023.
Findings
The literature uses a variety of theoretical perspectives to examine the key determinants of subsidiary performance which can be grouped into six major domains, namely, home- and host country-level factors; distance between home and host countries; the characteristics of parent firms and of subsidiaries; and governance mechanisms (the establishment modes and ownership strategy, subsidiary autonomy and the use of home country expatriates for transferring knowledge from the headquarters and controlling foreign subsidiaries). A range of objective and subjective indicators are used to measure subsidiary performance. Yet, the research shows a lack of broader integration of theories and presents inconsistent theoretical predictions, inconclusive empirical findings and estimation bias, which hinder our understanding of how the determinants independently and jointly shape the performance of foreign subsidiaries.
Originality/value
This study provides a comprehensive, nuanced and systematic review that synthesizes and clarifies the determinants of subsidiary performance, offers deeper insights from both theoretical, methodological and empirical aspects and proposes some promising avenues for future research directions.
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Akindele Babatunde Omotesho and Ayodeji Michael Obadire
This study aims to examine the effects of payment methods used in mergers and acquisitions (M&A) conducted by UK companies spanning the period from 2007 to 2019.
Abstract
Purpose
This study aims to examine the effects of payment methods used in mergers and acquisitions (M&A) conducted by UK companies spanning the period from 2007 to 2019.
Design/methodology/approach
The study used the estimated expected returns method to identify abnormal returns during the deal announcement period, applying event study analysis with both univariate and multivariate regression models to detect cumulative abnormal returns around the announcement timeframe.
Findings
The results show a short-term positive return increase for acquiring firms, controlling for deal-specific characteristics like target firm location and payment methods. The authors observed a preference for cash financing across domestic and cross-border transactions. Multivariate analysis revealed insignificance between payment methods and deal characteristics like cross-border acquisitions and diversification.
Research limitations/implications
The study’s focus on publicly traded firms in the UK and the absence of a comparative analysis across different regions and markets limits the sample size and may impact the generalizability of findings.
Practical implications
The study proposes three practical implications. Firstly, firms should tailor payment methods to each transaction, aligning with strategic goals to optimize value and mitigate risks. Secondly, decision-makers must prioritize comprehensive due diligence and strategic alignment throughout M&A processes to enhance success and maximize synergies. Finally, analysing broader strategic contexts and regulatory landscapes when structuring transactions enables goal attainment, such as market expansion or value creation.
Social implications
The study’s findings can promote transparency and accountability among corporate decision-makers in M&A transactions. Stakeholders can advocate for transparent decision-making processes, enhancing trust in corporate governance.
Originality/value
This study provides valuable insights into the impact of payment methods on shareholder value in M&A transactions involving UK companies, informing strategic decision-making and contributing to the understanding of corporate finance dynamics.
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Waqas Anwar, Arshad Hasan and Franklin Nakpodia
Because of growing corporate tax scandals, there is an enhanced focus on corporate taxation by governments, institutions and the general public. Transparency in tax matters has…
Abstract
Purpose
Because of growing corporate tax scandals, there is an enhanced focus on corporate taxation by governments, institutions and the general public. Transparency in tax matters has been identified as critical for effectively managing and promoting socially responsible tax behaviour. This study aims to explore the impact of ownership structure, board and audit committee characteristics on corporate tax responsibility (CTR) disclosure.
Design/methodology/approach
This research collected data from the annual reports of Pakistani-listed firms over 12 years, from 2009 to 2020. Consequently, the data set encompasses a total of 1,800 firm-year observations. This study uses regression analysis to test the relationship between corporate governance and CTR disclosure.
Findings
The results show that board gender diversity, managerial ownership and audit committee independence promote tax responsibility disclosure. In contrast, family board membership, CEO duality, foreign ownership and family ownership negatively impact tax responsibility disclosure. Additional analyses reveal the specific information categories that produce the overall effects on tax responsibility disclosure and assess the moderating impact of family firms on the governance and CTR disclosure nexus.
Practical implications
Corporations can use the results to encourage practices that enhance transparency and improve the quality of disclosures. Regulatory authorities can use the findings to stipulate better protocols. Doing so will be vital for developing countries such as Pakistan to improve tax revenue and cultivate economic growth.
Originality/value
While this research represents, to the best of the authors’ knowledge, one of the first empirical investigations of the association between corporate governance and CTR, the results contribute to the corporate governance literature and offer fresh insights into CTR, an emerging dimension of corporate social responsibility.
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Corrado Andini and Monica Andini
The paper investigates the determinants of the Ordinary Least Squares (OLS) bias of the wage return to graduate education for high-school workers in Portugal.
Abstract
Purpose
The paper investigates the determinants of the Ordinary Least Squares (OLS) bias of the wage return to graduate education for high-school workers in Portugal.
Design/methodology/approach
The study uses matched employer-employee data for Portugal, over the 2002–2012 period, to estimate a wage-schooling model that controls not only for individual observed characteristics, firm observed characteristics and year fixed effects, but also for three high-dimensional vectors of fixed effects – one for employees, one for employers and one for job titles.
Findings
The main results are the following. First, disregarding individual fixed effects is highly problematic, accounting for 48.5% of the OLS bias. Second, disregarding firm fixed effects is also problematic, accounting for 12.3% of the OLS bias.
Research limitations/implications
The implication for the studies in the labor-supply literature that estimate, by means of instrumental variables, the wage returns to in-school work or to on-the-job schooling is that an instrument dealing with employee’s unobserved ability only may fail to meet the exclusion restriction.
Practical implications
Take the typical instrument based on a policy reform that changes the compulsory schooling level in the population. This instrument may well be argued to be correlated with the education of the employee and uncorrelated with the unobserved ability of the employee, but unfortunately it cannot be seen as orthogonal to the unobserved ability of the employer because of its correlation with the (unobserved) education of the manager. This is a simple corollary of the fact that the employee and the manager belong, in general, to the same population.
Social implications
Individuals invest a considerable amount of resources in education, which is seen to have positive effects on several dimensions of individual life. Yet, the estimation of these effects is still surrounded by technical difficulties.
Originality/value
To the best of the authors’ knowledge, this is the first study that uses the Gelbach decomposition to investigate the determinants of the OLS bias of the wage return to graduate education for high-school workers.
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This paper aims to examine the impact of female board directorship on the quality of key performance indicators voluntary disclosure (hereafter QKPI). Further, this paper explores…
Abstract
Purpose
This paper aims to examine the impact of female board directorship on the quality of key performance indicators voluntary disclosure (hereafter QKPI). Further, this paper explores whether the presence of family board members mitigates the female directors’ effect on the QKPI.
Design/methodology/approach
This study explores closely held family firms listed on the CAC All-Tradable during 2015–2022.
Findings
The initial findings provide consistent evidence indicating a positive association between female board directorship and the QKPI. However, testing for the moderating effect of family board members on the linkage between female representation in the company’s boardroom and the QKPI reveals a negative relation.
Originality/value
This study focuses on gender equality in French-listed companies, a topic that has received little attention from researchers. The country and the period considered in this paper are noteworthy characteristics that enhance the value of this research. This study sheds light on issues concerning the 2016 law that requires quotas for women on boards of directors in French firms.
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