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Article
Publication date: 19 November 2021

Rakesh B. Sambharya, Abdul A. Rasheed and Farok J. Contractor

There is considerable variation in the extent of globalization across industries. The authors attempt to identify the structural conditions of the industry that lead to…

Abstract

Purpose

There is considerable variation in the extent of globalization across industries. The authors attempt to identify the structural conditions of the industry that lead to these variations.

Design/methodology/approach

Based on a sample of 33 manufacturing industries over the nine-year period from 2007 to 2016, the authors test for antecedents of industry globalization.

Findings

The authors find that industry globalization is positively affected by medium levels of barriers to entry, industry competition, industry assistance, low and mediums levels of capital intensity, industry concentration and industry regulation and negatively affected by low levels of technological change and industry assistance. In addition, the life cycle stage of the industry has an impact on the level of globalization with the growth stage having the highest level of globalization.

Research limitations/implications

First, the major limitation of the paper is that the authors rely entirely on trade data to measure the level of industry globalization. The authors did not have a choice because foreign direct investment (FDI) data are available only at the country level. Second, given that globalization can occur at the country, industry and firm levels, the focus on industry-level structural characteristics alone may be seen as a limitation.

Practical implications

The results of the study can provide guidance to practicing managers to apply industry analysis for predicting the potential for and direction of globalization of their industries. This will enable them to formulate appropriate strategies to cope with global competition.

Social implications

The study has important public policy implications. National governments have many levers at their command that can be used to influence the structural characteristics of industries, such as industry regulation, industry assistance and industry concentration. They can selectively use these levers to either facilitate or impede globalization.

Originality/value

Much of the empirical focus of prior research on globalization has been on countries, rather than industries, as the unit of analysis. There is clearly variation in the extent of globalization across industries with some industries highly integrated while others remain primarily local or regional. Based on a novel approach to measure the extent of globalization at the industry level, the authors identify its antecedents. The value of the paper lies in the fact that the analysis of 33 manufacturing industries over a ten-year period shows that the structural characteristics of the industries drive their extent of globalization.

Details

Cross Cultural & Strategic Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5794

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Article
Publication date: 30 November 2021

Rexford Abaidoo and Elvis Kwame Agyapong

This paper aims to evaluate how strands of differing investments influence stability in the banking industry using data from 37 countries in Sub-Sahara Africa from 2000 to 2018.

Abstract

Purpose

This paper aims to evaluate how strands of differing investments influence stability in the banking industry using data from 37 countries in Sub-Sahara Africa from 2000 to 2018.

Design/methodology/approach

Empirical analyses in the study were carried out using a two-step system Generalized Method of Moments estimation methodology.

Findings

Empirical results suggest that generally, growth in investments by governments, foreign investments and private domestic investments have a significant positive impact in stabilizing the banking industry. The empirical estimates further suggest that macroeconomic conditions such as macroeconomic uncertainty adversely affects the liquid reserve position of banks even during periods of appreciable growth in investments.

Originality/value

The authors present a different approach to the banking industry discourse. Instead of surmise the relationship with the direction of impact often emanating from the banking industry to other variables of interest or conditions, this study rather examines how investment dynamics among economies influence the stability of the banking industry overtime. In contrast to related studies, this study examines how strands of investment variables influence the stability of the banking industry. Specifically, this study is modeled to examine the extent to which variability in investment growth (using different investment variables) affect stability in the banking industry.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

Keywords

Content available
Article
Publication date: 16 November 2021

Amra Tica and Barbara E. Weißenberger

This paper aims to contribute to the understanding of the mechanisms that evolve during reputational scandals and lead to changes in industry regulation. It explores the…

Abstract

Purpose

This paper aims to contribute to the understanding of the mechanisms that evolve during reputational scandals and lead to changes in industry regulation. It explores the processes by which a demand for external industry regulation evolves, also addressing the consequences of firms’ competitive behaviors which lead to substantial misbehavior and the destruction of reputational capital. The authors are interested in whether and how regulatory activities – in the case analyzed here, changes in insurance regulation regarding sales commissions for insurance brokers – are used as a costly, external behavioral control mechanism (third-loop learning) to terminate a reputational scandal that cannot be stopped by internal controls at a firm level (first-loop and second-loop learning) anymore.

Design/methodology/approach

The paper explores a real-life case in the German insurance industry that peaked in 2012 and has been well documented by broad media coverage, complemented by interviews with leading industry representatives. Using causal process tracing as a methodology, the authors study the factors in the case that led to an industry scandal. The authors further analyze why the insurance firms involved were not able to limit the scandal’s impact by internally controlling their behaviors, but had to call for external regulation, thus imposing costly restrictions on sales and contract processes. To identify the mechanisms underlying this result, theories from the fields of economics (game theory) and sociology (vicious cycle of bureaucracies), as well as organizational learning theory, are used.

Findings

The authors find that individual rationality does not suffice to prevent insurance firms from scandalous business practices, e.g. via implementing appropriate internal behavioral control measures within their organizations. If, as a result, misbehavior leads to reputational scandals, and the destruction of reputational capital spills over to the whole industry, a vicious cycle is set in motion which can be terminated by regulation as an externally enforced control mechanism.

Research limitations/implications

This study is limited to the analysis of a single case study, combining published materials, e.g. broad media coverage, with interviews from representatives of the insurance industry. Nevertheless, the underlying mechanisms that have been identified can be used in other case studies as well.

Practical implications

The paper shows that if firms want to avoid increasing regulation, they must implement strong reputational risk management (RRM) to counteract short-term profit pressure and to avoid restrictive regulation imposed on the industry as a whole. Furthermore, it sheds light on the relevance of spillover effects for RRM, as not only employee behavior within an organization might lead to the destruction of reputational capital but also that from other firms, e.g. from elsewhere within an industry.

Originality/value

The paper contributes by emphasizing a direct causal link between corporate scandals, loss of reputation and regulatory change within the insurance industry. Furthermore, the paper contributes by combining economic theories with organizational theories to understand real-life phenomena.

Details

Journal of Accounting & Organizational Change, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1832-5912

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Article
Publication date: 25 November 2021

Anurak Sawangwong and Poti Chaopaisarn

The purpose of the study is to investigate the impact of technological pillars of Industry 4.0 based on knowledge to adopt the supply chain performance of Thai small and…

Abstract

Purpose

The purpose of the study is to investigate the impact of technological pillars of Industry 4.0 based on knowledge to adopt the supply chain performance of Thai small and medium-sized enterprises (SMEs) 4.0. In addition, to increase knowledge and understanding of how to apply knowledge in technology 4.0 to improve the efficiency of supply chains and organizations.

Design/methodology/approach

An integrated model was developed from applying knowledge in five technological pillars of Industry 4.0 such as Internet of things (IoTs), cloud computing, big data and analytics, additive manufacturing and cyber-security. The bibliometric analysis was used to find the relationship between the technological pillars of Industry 4.0 and the literature review. The survey questionnaires were sent to Thai SME 4.0 (manufacturing aspect). Of these, 240 useable responses were received, resulting in a response rate of 65.84%, after then, the exploratory factor analysis (EFA), confirmatory factor analysis (CFA), structural equation modeling (SEM) and validity were used to evaluate the model through IBM SPSS 21 and AMOS 22.

Findings

EFA showed the four groups of the technological pillars of Industry 4.0, such as support human, automation, real-time and security. These groups positively impact supply chain performance (increase delivery reliability, increase resource efficiency, decrease costs in the supply chain and reduce delivery time). Another important finding is that supply chain performance positively impacts organizational performance in profitability, return on investment (ROI) and sale growth.

Originality/value

This study is a model development to support the supply chain performance and increase understanding related to applying knowledge in technology 4.0 that remains unclear for SME 4.0.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Content available
Article
Publication date: 25 November 2021

Trishna G. Mistry, Fevzi Okumus and Marissa Orlowski

Diversity management is of great importance in the hospitality industry, resulting in a host of constructive consequences if managed effectively. However, there is a…

Abstract

Purpose

Diversity management is of great importance in the hospitality industry, resulting in a host of constructive consequences if managed effectively. However, there is a deficiency of investigation surrounding the outcomes of diversity management on the employees' attitudes and behavior in the hospitality industry. This research sought to investigate the influence of diversity management on workers' performance and conduct in the hospitality industry.

Design/methodology/approach

This quantitative study used survey data from 565 hospitality industry employees. Structural equation modeling was used to test the relationships from the research model.

Findings

This study identified a relationship between diversity management and positive workforce-related outcomes, including job performance, service innovation behavior and employee engagement in the hospitality industry.

Research limitations/implications

The findings of this study will push the confines of diversity management scholarship and initiate new paths of academic inquiry. Hospitality industry managers can also identify the benefits of effective diversity management as a consequence of this study.

Originality/value

This research contributes to the growing literature on diversity management as an essential aspect of human resources management in promoting positive employee attitudes and behaviors.

Details

International Hospitality Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-8142

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Article
Publication date: 30 November 2021

Mohd Javaid, Ibrahim Haleem Khan, Ravi Pratap Singh, Shanay Rab and Rajiv Suman

Unmanned aerial vehicles are commonly known as UAVs and drones. Nowadays, industries have begun to realise the operational and economic benefits of drone-enabled tasks…

Abstract

Purpose

Unmanned aerial vehicles are commonly known as UAVs and drones. Nowadays, industries have begun to realise the operational and economic benefits of drone-enabled tasks. The Internet of Things (IoT), Big Data, drones, etc., represent implementable advanced technologies intended to accomplish Industry 4.0. The purpose of this study is to discuss the significant contributions of drones for Industry 4.0.

Design/methodology/approach

Nowadays, drones are used for inspections, mapping and surveying in difficult or hazardous locations. For writing this paper, relevant research papers on drone for Industry 4.0 are identified from various research platforms such as Scopus, Google Scholar, ResearchGate and ScienceDirect. Given the enormous extent of the topic, this work analyses many papers, reports and news stories in an attempt to comprehend and clarify Industry 4.0.

Findings

Drones are being implemented in manufacturing, entertainment industries (cinematography, etc.) and machinery across the world. Thermal-imaging devices attached to drones can detect variable heat levels emanating from a facility, trigger the sprinkler system and inform emergency authorities. Due partly to their utility and adaptability in industrial areas such as energy, transportation, engineering and more, autonomous drones significantly impact Industry 4.0. This paper discusses drones and their types. Several technological advances and primary extents of drones for Industry 4.0 are diagrammatically elaborated. Further, the authors identified and discussed 19 major applications of drones for Industry 4.0.

Originality/value

This paper’s originality lies in its discussion and exploration of the capabilities of drones for Industry 4.0, especially in manufacturing organisations. In addition to improving efficiency and site productivity, drones can easily undertake routine inspections and check streamlines operations and maintenance procedures. This work contributes to creating a common foundation for comprehending Industry 4.0 outcomes from many disciplinary viewpoints, allowing for more research and development for industrial innovation and technological progress.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-991X

Keywords

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Book part
Publication date: 13 November 2014

Boqiong Yang

After three decades of reform and opening up, China’s economy has experienced huge changes. Against the background of economic globalization, foreign direct investment…

Abstract

After three decades of reform and opening up, China’s economy has experienced huge changes. Against the background of economic globalization, foreign direct investment (FDI) plays an important role in China’s economy. China has become one of the world’s largest FDI inflow countries, which has had an important impact on its economic development. FDI has preferred the industrial sector, which also has serious environmental pollution. This study will consider vertical and horizontal FDI location choice theory and conduct theoretical analysis concerning the FDI location choice within the industrial sectors, as well as empirical analysis to test the distribution of FDI in pollution-intense industries. Furthermore, the “Catalog of Industries for Foreign Investment” is one of China’s important industrial policies to guide foreign investment. Since being implemented in 1995, it has made five adjustments. The analysis of the distribution of FDI in the polluting industries and the impact of the change process will provide advice instructive for the government to amend the catalog.

Details

Globalization and the Environment of China
Type: Book
ISBN: 978-1-78441-179-4

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Article
Publication date: 18 October 2021

Umair Bin Yousaf, Irfan Ullah, Man Wang, Li Junyan and Ajid Ur Rehman

This study aims to examine the relationship between board capital and firm performance in the Chinese tourism industry.

Abstract

Purpose

This study aims to examine the relationship between board capital and firm performance in the Chinese tourism industry.

Design/methodology/approach

The study’s sample includes firms from the Chinese hotel, air transportation/travel and catering industries. This study explores the governance environment in tourism industries. This study estimates three dimensions of the board, including education, expertise and directors interlock. These dimensions are further grouped as human capital (i.e. education and expertise), social capital (interlocks) and board capital (sum of social and human capital). Ordinary least square regressions with multiple robustness tests are used to investigate the effect of board capital on firm value in Chinese listed tourism firms during 2005–2018.

Findings

This study finds that board capital positively impacts firm performance in its dimensions of human and social capital. This study also highlights the two important ownership contexts, namely, institutional investors and state-ownership, that shape the board capital-firm performance association in the Chinese tourism industry.

Practical implications

The findings suggest that board capital plays a significant role in corporate decisions. The results illustrate that higher board capital improves both governance mechanisms and resource provision roles of the board, resulting in higher firm value. The results further offer implications for managers and shareholders of tourism firms when electing directors as shareholders’ representatives.

Originality/value

The study has two important contributions. First, it extends the prior literature of firm value by considering the board’s human and social dimensions in the tourism sector. Second, contrary to prior research on board, this study takes three facets of board capital, education, expertise and interlocks that improve governance mechanisms and bring new resources in the shape of skills, knowledge and expertise.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 18 October 2021

Yongshun Xu, Heap-Yih Chong and Ming Chi

In the era of digitalisation, blockchain has the potential to fundamentally change the architecture, engineering and construction (AEC) industry's workflow, trust and…

Abstract

Purpose

In the era of digitalisation, blockchain has the potential to fundamentally change the architecture, engineering and construction (AEC) industry's workflow, trust and procurement environments. However, few studies have investigated blockchain adoption barriers in the AEC industry in detail. Therefore, the study aims to provide a comprehensive understanding of these barriers and their interdependent relationships in the context of the AEC industry.

Design/methodology/approach

Based on a review of the literature, industry reports and expert feedback, 11 barriers towards adopting the blockchain were identified. Then, the authors investigated the interdependencies amongst the factors by adopting a two-stage integrated interpretive structural modelling (ISM) and decision-making trial and evaluation laboratory (DEMATEL) method.

Findings

The findings show that the lack of information technology infrastructure (BC4) and legal and regulatory uncertainty (BC11) are the most prominent barriers towards blockchain adoption in the AEC industry.

Practical implications

The research contributes in providing a clearer understanding of related barriers and potential solutions for practitioners in this area. Subsequently, the identification of adoption barriers can enable an important knowledge foundation and suggest possible solutions for adopting blockchain techniques successfully and effectively in the AEC industry.

Originality/value

The study lays an essential research foundation for the effective adoption and use of blockchain in the AEC industry.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 12 October 2021

Jiju Antony, Michael Sony, Olivia McDermott, Sandy Furterer and Matthew Pepper

Industry 4.0 is a new trend among organizations. Some organizations have been early adopters or later adopters of Industry 4.0. The purpose of this paper is to investigate…

Abstract

Purpose

Industry 4.0 is a new trend among organizations. Some organizations have been early adopters or later adopters of Industry 4.0. The purpose of this paper is to investigate how performance effects vary between early and late adopters of Industry 4.0.

Design/methodology/approach

This study applies a qualitative research methodology using grounded theory. 14 senior management professionals who have implemented Industry 4.0 participated in this study through a theoretical and snowball sampling approach. These professionals were from manufacturing and service sectors, from North America, Europe and Asia. The study used semi structured open-ended interviews to capture the organizational performance on operational, financial, environmental and social dimensions.

Findings

The findings were analyzed in terms of four broad themes which emerged from the interviews. In operational performance the operational and implementation cost will be higher for early adopters. The late adopters may enjoy the advantage in terms of improved business models. In terms of financial performance, the early adopters may see a marginal increase in profit and increased stock price compared to late adopters. The performance on the environmental dimension will see early adopters enjoying material efficiency, energy savings and an improved image of the company compared to late adopters. In social performance, the early adopters will provide a better quality of work life, safer manufacturing environment. However, the resistance from labor unions will be higher for early adopters compared to late adopters.

Practical implications

Organizations must decide the timing of implementation of Industry 4.0. This study will act as a guide wherein they can decide to be an early adopter or late adopter based on knowledge of the resulting performance consequences.

Originality/value

This is the first paper that studies the performance effects of early versus late adopters of Industry 4.0.

Details

International Journal of Quality & Reliability Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0265-671X

Keywords

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