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The behavioral theory of the firm (BTOF) has been used to explain the research and development (R&D) investment behavior of firms in numerous multi industry studies. However, their partially contradictory results point to the possible need for a single industry perspective that would reduce heterogeneity of business trends, models and other characteristics. This study aims to test this theoretical assumption within the challenging context of the US pharmaceutical industry.

The research uses data from 20 firms, which number among the largest in the US pharmaceutical industry, over the period 2002-2014. These data are analyzed using fixed- and random-effect panel models.

The findings generally support the need for a thorough understanding of the industry under study and its specific characteristics. The firms analyzed in this research behave slightly differently from theoretical assumptions, and it is argued that this is caused by industry specific factors. Moreover, the use of two separate aspiration measures – for historical and social aspirations – is supported as it provides more in-depth insight into the firms’ behavior.

This paper, which is based on research presented at the 4th International Conference on Innovation and Entrepreneurship, represents the first inquiry into the R&D investment behavior of pharmaceutical firms using the BTOF. It also represents an argument for conducting single-industry rather than multi industry studies when using this theory.

The purpose of this paper is to identify the extent to which the company's post- initial public offering (IPO) outcome varies, along with the determinants of the post-IPO outcomes.

The authors use Cox proportional hazards models to examine what determines the company's post-IPO transition to one of the classified outcomes, delisting, acquisition due to strong performance, and acquisition due to weak performance. The authors develop models taking in a range of information concerning pre-IPO characteristics, offering characteristics, financial indicators, company specifics, industry features, and corporate ownership and governance.

Delisting is predominantly influenced by the company’ pre-IPO operating performance, as well as financial indicators and governance structure at the time of the IPO. Sound governance structure and good financial standing of the company aid it to achieve its goal. Mergers and acquisitions (M&As) of both forms are distinguished most significantly by ownership structure and industry features, which is consonant with the position that M&As are majorly motivated by social concerns and corporate control considerations. Centrally, corporate evolution is jointly shaped by market force and state control.

The findings can inform public policy decisions. There is a case for gradual introduction of institutional changes which facilitate, regulate, and monitor orderly market operations in line with the market mechanism and sound corporate governance.

The study is among the first efforts to examine what determines the company's transition to one of the post-IPO states following the IPO in China's stock market.

The purpose of this paper is to identify the most effective operational model for oilfield service companies in developing markets (e.g. Russian market). It proposes the comparative analysis of oilfield service industry regulation in several developed and developing markets, specifies industry and interaction between energy and service companies and advises the effective operation model applicable to the Russian market.

This paper’s methodology is based on collecting information and generalizing the experience of international oilfield service companies in developed and developing markets, thus identifying types of service company’s operational models and factors that determine the choice of strategy and operational model in different countries and markets, as well as identifying the most effective model for the developing market (e.g. Russian market).

The paper provides the case study for operational models implementation and calculation of their financial effect. It suggests that the integrated operational model is the most effective solution in developing markets in the case of operational risks and financial effect.

Because of the great number of segments, types of works and projects in international oilfield service industry, only the drilling segment was chosen as the analysis object. This segment is the key segment in oilfield sector with 35% global share of total oilfield works.

This paper fulfils an identified need to study how oilfield service companies are able to increase profitability and decrease market access barriers using correct operational models that reflect different market specifics.

The purpose of this article is to fill the gap in the discussion of the ways in which firm-created and user-generated social media brand communication impacts consumer-based brand equity (CBBE) metrics through Facebook.

We evaluated 302 data sets that were generated through a standardized online survey to investigate the impact of firm-created and user-generated social media brand communication on brand awareness/associations, perceived quality and brand loyalty across 60 brands within three different industries: non-alcoholic beverages, clothing and mobile network providers. We applied a structural equation modeling technique to investigate the effects of social media communication on consumers’ perception of brand equity metrics, as well as in an examination of industry-specific differences.

The results of our empirical studies showed that both firm-created and user-generated social media brand communication influence brand awareness/associations; whereas user-generated social media brand communication had a positive impact on brand loyalty and perceived brand quality. Additionally, there are significant differences between the industries being investigated.

This article is pioneering in that it exposes the effects of two different types of social media communication (i.e. firm-created and user-generated social media brand communication) on CBBE metrics, a topic of relevance for both marketers and scholars in the era of social media. Additionally, it differentiates the effects of social media brand communication across industries, which indicate that practitioners should implement social media strategies according to industry specifics to lever CBBE metrics.

The purpose of this paper is to study the impact of market orientation on a companyµs business performance in a service industry using one of the emerging markets as a research setting.

The examination of two recognized MKTOR and MARCOR market orientation concepts in this paper led to the development of a market orientation model in a service industry that considers the local specifics of doing business. The model was tested in a study of 133 businesses that operate in a Russian service industry. The data analysis was completed to investigate and measure the impact of the market orientation level on a company’s business performance.

The data analysis following the field study determines that market orientation delivers a positive impact on the company’s overall business performance.

Inter-functional coordination should receive broad attention from company management, as this market orientation element is the most vital for business performance – especially in service industries. Accompanying model elements also provide leverage to business performance that should not be overlooked. Synchronized utilization of the market orientation model elements has a very positive impact on the company’s business.

This research paper contributes to an array of publications dedicated to market orientation in one of the most multifaceted emerging markets, the Russian Federation. It is also the first time that the market orientation concept has been applied by service industry organizations in Russia.

The purpose of the paper is to develop a model of distribution of human and machine labor at intellectual production in Industry 4.0.

The basis of the methodology of the research is regression analysis. The analyzed variables are independent variables that characterize the level of development of human and machine labor in the economy of a country; dependent variables that reflect the effectiveness of the production, marketing and innovative business processes in the economy of country according to “The Global Competitiveness Report” (World Economic Forum); and dependent variables, which show the share of the sphere (agriculture, mining industry, processing industry and service sphere) in the structure of GDP of a country according to the statistics of the World Bank. For determining the change of regression dependencies in dynamics in the interests of reduction of the probability of statistical error, the research is conducted for 2010 and 2018 with application of trend analysis.

Based on the full selection of modern countries that conduct digital modernization, the authors determine statistical dependencies of effectiveness of business processes and development of the spheres of economy on the intensity of application of machine and human labor. This allowed determining significant differences in automatization of business processes: perspectives of application of machine labor are the widest in production and the narrowest in marketing, differentiated logic of organization of intellectual production in different spheres of economy and the specifics of automatization of business processes and spheres of economy in countries of different categories, one of which has to be taken into account during organization of intellectual production in Industry 4.0.

The developed model of optimal distribution of human and machine labor at intellectual production in Industry 4.0 will allow reducing disproportions in effectiveness of different business processes, development of different spheres of economy and growth rate of developed and developing countries. This explains its contribution into provision of well-balanced development of the modern global economic system.

The chapter discusses the characteristics of audiovisual (AV) media sectors in the Baltic Sea region. Therein it focuses on the specifics of media industries in small countries in the region as they are challenged in ways notably different from large countries with large domestic markets for media content. It discusses the differences between the AV media industries in the Nordic and Baltic countries and suggests that while in the first case long-term welfare society policies and conscious policy-driven system building have conditioned growth and international success then also in the second case innovation policy rationales have facilitated recent growth and dynamics. It then discusses the specific challenges, especially platformisation to small media industries in contemporary globalising media markets, and suggests that opportunities to resist these challenges may be in local inter-sectoral cooperation, that is, in building cross-innovation systems.

The fundamentals of Lean are applicable and can be used in any industry, even non-profit and government organizations, however, there might be certain limitations due to the nature and the specifics of the industry. This study aims to explore what barriers of Lean implementation textile manufacturers might encounter. The authors consider the problem is worth to be explored for the potential to improve the effectiveness of Lean implementation in textile sector companies.

This research was conducted by using qualitative content analysis with open coding of the selected literature followed by empirical research in a Latvian textile manufacturing company.

The presented literature review shows Lean implementation barriers and critical success factors in various industries. The findings from the case study can be divided into two groups. The first confirmed the barriers already identified in the previous research. The second identified industry specific implementation barriers that were not recognized in the related literature.

The original research was limited in scope to one Latvian textile manufacturer, therefore future studies on the subject to confirm the outcome of the research are required.

There is a limited number of studies on the application of Lean in the textile and apparel industry. The literature on Lean implementation in the Latvian manufacturing sector is also limited. The results of this research may have a practical application for textile manufactures considering implementing Lean in their processes.

The purpose of this paper is to discover factors of new ventures performance in Russia and to combine them in a model which describes the influence of these factors on the performance of a new venture.

A cross‐sectional study of new ventures was conducted by a field survey in six regions in Russia. One‐factor variance analysis and regression analysis were used to identify significant factors.

Three groups of factors were identified as significantly influencing performance of new ventures in Russia: environmental factors, style of management and type of strategic behaviour. For environmental factors the following variables were included: crisis in industry, increase in product demand, predictability of regulatory authorities behaviour, predictability of financial markets, and environmental hostility. For company management style, several variables were statistically significant: level of centralization, concentration of management in the hands of the founder, and role of the middle management. For strategic behaviour, only the strategy of prospector in terms of Miles and Snow was found to have significant influence on the new venture performance (NVP).

The research ignores industry specifics that may be reflected in different new ventures performance factors.

Entrepreneurs starting new ventures in Russia should take into account the identified factors which can influence their companies’ performance.

Although there have been many studies on NVP factors, no such research has been performed in Russia.

This paper aims to explore the financial and non-financial accountability disclosure patterns of state-owned enterprises (SOEs), as hybrid organizations.

Adopting the hybridity concept and resorting to stakeholder theory, this paper works on a comparison between the accountability disclosure patterns of hybrid and private organizations operating in the same industry. European national news agencies are selected as units of analysis and an extensive web content analysis is performed on three categories of information.

SOEs are found to disclose a broader spectrum of information than private organizations, and differences between them have been found. Nevertheless, both financial and non-financial disclosures are underdeveloped in the two organizational types.

This paper illustrates how hybridity explains SOEs’ accountability disclosure patterns. Results could not be complemented through information on disclosure through alternative channels. Future studies are encouraged to perform simultaneous comparisons among hybrid, public and private organizations, as well as considering industry specifics.

As web accountability disclosure helps to address the demands of distant stakeholders, efforts are needed to enhance SOEs’ web accountability disclosures and not to undermine democratic accountability relationships.

This paper contributes to the ongoing debate on the accountability mechanisms and style of SOEs. Using a framework for hybrid organizations provides an understanding of how SOEs, as hybrid organizations, disclose information for accountability. In turn, this allows, and then promotes, the investigation of social phenomena by conceiving hybridity as a standalone institutional space.