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1 – 10 of over 3000Vahagn Jerbashian and Montserrat Vilalta-Bufí
The authors analyzed the evolution of working from home (WFH) within industries in 12 European countries in the period 2008–2017 and studied its relationship with information and…
Abstract
Purpose
The authors analyzed the evolution of working from home (WFH) within industries in 12 European countries in the period 2008–2017 and studied its relationship with information and communication technologies (ICT).
Design/methodology/approach
The authors used data from the European Union Labour Force Survey (EU-LFS) to document the trends and levels of WFH within industries in 12 European countries. The authors further used the EU-KLEMS database and a difference-in-difference approach to study whether the fall in prices of ICT is associated with a higher share of employees who work from home in industries that depend more on ICT relative to industries that depend less.
Findings
The authors show that WFH has increased almost everywhere and that there is significant heterogeneity across industries. The authors provide evidence that the fall in prices of ICT is associated with a higher share of employees who work from home in industries that depend more on ICT relative to industries that depend less. This result also holds within age, gender and occupation groups. While the authors find no significant differences among gender and occupation groups, the positive association between the fall in ICT prices and WFH increases with age.
Originality/value
This paper has two main contributions: First, it reports that WFH has increased in European countries in the period 2008–2017. Second, it provides new explorations about the relationship between ICT and WFH by using the price variation of ICT.
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Phela Townsend, Douglas Kruse and Joseph Blasi
This paper offers a new perspective on the potential motivation for the adoption of employee ownership based on market power. Employee ownership may be linked to market power…
Abstract
Purpose
This paper offers a new perspective on the potential motivation for the adoption of employee ownership based on market power. Employee ownership may be linked to market power, either through contributing to firm growth that leads to market power or through industry leaders adopting employee ownership as part of rent sharing or a broader consolidation of market position. Both employee stock ownership plan (ESOP) coverage and product market concentration (PMC) have been increasing in the past two decades, providing a good opportunity to see if and how these are related.
Design/methodology/approach
The authors predict ESOP adoption and termination using multilevel regressions based on 2002–2012 firm- and industry-level data from the Census Bureau, Compustat and Form 5500 pension datasets.
Findings
The authors find that the top four firms in concentrated industries are more likely to adopt Employee Stock Ownership Plans (ESOPs), while having an ESOP does not predict entering the top four, apart from firm-level predictors. Tests indicate the first result does not reflect simple rent sharing with employees but instead appears to reflect an effort by firms to consolidate market power through the attraction and retention (or “locking in”) of industry talent. Other positive predictors of ESOPs include company size, being in a high-wage industry and having a defined benefit (DB) pension.
Research limitations/implications
To better distinguish among hypotheses, it would be helpful to have firm-level data on managerial attitudes, strategies, networks and monopsony measures. Therefore, future research using such data would be highly useful and encouraged.
Practical implications
The paper includes implications for the potential usefulness of ESOPs in attracting and retaining talent and for the design of nuanced policy to encourage more broadly based sharing of economic rewards.
Originality/value
While prior research focuses on firm-level predictors of employee ownership, this study uses market concentration and other industry-level variables to predict the use of ESOPs. This study makes a unique contribution, broadening the current thinking on firm motives and environmental conditions predictive of firm ESOP adoption.
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Anthony Bagherian, Mark Gershon and Sunil Kumar
Numerous attempts at installing six sigma (SS) have faced challenges and fallen short of the desired success. Thus, it becomes vital to identify the critical factors and…
Abstract
Purpose
Numerous attempts at installing six sigma (SS) have faced challenges and fallen short of the desired success. Thus, it becomes vital to identify the critical factors and characteristics that play a pivotal role in achieving successful adoption. In this study the research has aimed to highlight that a considerable number of corporate SS initiatives, around 60%, fail primarily due to the improper incorporation of essential elements and flawed assumptions.
Design/methodology/approach
To validate the influence of critical success factors (CSFs) on SS accomplishment, the study employed a research design combining exploratory and mixed-methods approaches. A Likert-scale questionnaire was utilized, and a simple random sampling method was employed to gather data. Out of the 2,325 potential participants approached, 573 responses were received, primarily from Germany, the United Kingdom and Sweden. The analysis focused on 260 completed questionnaires and statistical methods including structural equation modeling (SEM), exploratory factor analysis (EFA) and Confirmatory Factor Analysis (CFA) were utilized for data analysis.
Findings
The study acknowledged four essential components of CSFs that are imperative for sustaining the success of SS: (1) Competence of belt System employees; (2) Project management skills; (3) Organizational economic capability and (4) Leadership commitment and engagement. These factors were identified as significant contributors to the maintenance of SS’s success.
Practical implications
The practical implications of this research imply that institutions, practitioners, and researchers can utilize the four identified factors to foster the sustainable deployment of SS initiatives. By incorporating these factors, organizations can enhance the effectiveness and longevity of their SS practices.
Originality/value
The investigation's originality lies in its contribution to assessing CSFs in SS deployment within the European automobile industry, utilizing a mixed-methods research design supplemented by descriptive statistics.
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This study aims to investigate the variation in overvaluation proxies and volatility across industry sectors and time.
Abstract
Purpose
This study aims to investigate the variation in overvaluation proxies and volatility across industry sectors and time.
Design/methodology/approach
Using industry sector data from the S&P Capital IQ database, this study applies traditional cross-sectional regressions to investigate the relationship between overvaluation and volatility over the 2001–2020 time period.
Findings
This study finds that the most volatile industry sectors generally do not coincide with overvalued industry sectors in the cross-section, implying that there are limitations to price-multiple methods for forecasting future volatility. Rather, this study finds that historical volatility significantly increases the goodness-of-fit when modeling volatility in the cross section of industry sectors. The findings of this study imply that firms should increase disclosures and transparency about corporate practices to decrease downside risk that stems from bad news. In addition, the findings underline the consistency between market efficiency and high levels of volatility in periods of significant uncertainty.
Originality/value
This study proposes a novel approach to examining the cross section of volatility across time for industry sectors.
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Anannya Gogoi, Jagriti Srivastava and Rudra Sensarma
While firms in developing countries are increasingly adopting lean practices of inventory management, there is limited evidence showing the impact of lean practices on firm…
Abstract
Purpose
While firms in developing countries are increasingly adopting lean practices of inventory management, there is limited evidence showing the impact of lean practices on firm performance in countries such as India. Lean practices improve the financial performance of the firms through superior cost-reduction measures and operational efficiencies. This paper examines the impact of inventory leanness in Indian manufacturing firms on their financial performance.
Design/methodology/approach
The authors measure inventory leanness based on stochastic frontier analysis (SLA), apart from using conventional measures available in the literature. The authors analyze the impact of inventory leanness on the financial performance of firms by examining data for 12,334 unique Indian manufacturing firms for the period 2009–2018. The authors present a comparative analysis using different methods of inventory leanness and study the effects on firm performance.
Findings
First, the authors find that only 68 industries out of 411 industries follow lean practices, i.e. most industries do not follow lean practices. Second, the estimation results show that there exists a positive relationship between inventory leanness and firm performance. The results suggest that an inverted U-shaped relationship exists between inventory leanness and firm performance for the entire sample. In particular, 17% of the industries in the sample exhibit such a relationship, and it is sufficiently strong to show up in the average regression results for the entire sample.
Originality/value
The authors introduce a novel measure of inventory leanness named stochastic frontier leanness based on the SFA method used in production economics. It measures leanness by benchmarking the inventory levels against the industry “frontier”. Furthermore, the authors conduct an empirical study of the lean-financial performance relationship with a large panel dataset of Indian firms instead of the survey-based methods that were previously used in the literature.
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Mohammadreza Akbari, Seng Kiat Kok, John Hopkins, Guilherme F. Frederico, Hung Nguyen and Abel Duarte Alonso
The purpose of the article is to contribute to the body of research on digital transformation among members of the supply chain operating in an emerging economy. This paper…
Abstract
Purpose
The purpose of the article is to contribute to the body of research on digital transformation among members of the supply chain operating in an emerging economy. This paper researches the digital transformation trends happening across Vietnamese supply chains, by investigating the current adoption rates, predicted impact levels and financial investments being made in key Industry 4.0 technologies.
Design/methodology/approach
By using a semi-structured online survey, the experiences of 281 supply chain professionals in Vietnam were captured. Subsequently, statistical techniques examining variances in means, regression analysis and Monte Carlo simulation were applied.
Findings
The findings of this study offer a comprehensive understanding of Industry 4.0 technology in Vietnam, highlighting the prevalent technologies being prioritized. Big data analytics and the Internet of things are expected to have the most substantial impact on businesses over the next 5–10 years and have received the most financial investment. Conversely, Blockchain is perceived as having less potential for future investment. The study further identifies several technological synergies, such as combining advanced robotics, artificial intelligence and the Internet of things to build effective and flexible factories, that can lead to more comprehensive solutions. It also extends diffusion of innovation theory, encompassing investment and impact considerations.
Originality/value
This study offers valuable insights into the impact and financial investment in Industry 4.0 technologies by Vietnamese supply chain firms. It provides a theoretical contribution via an extension of the diffusion of innovation theory and contributes toward a better understanding of the current Industry 4.0 landscape in developing economies. The findings have significant implications for future managerial decision-making, on the impact, viability and resourcing needs when undertaking digital transformation.
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Yong H. Kim, Bochen Li, Hyun-Han Shin and Wenfeng Wu
It is documented that companies and government agencies in the USA invest more in the fourth fiscal quarter without having higher investment opportunities. While previous studies…
Abstract
Purpose
It is documented that companies and government agencies in the USA invest more in the fourth fiscal quarter without having higher investment opportunities. While previous studies focus on the agency conflicts and information asymmetry within organizations, this study is motivated by Scharfstein and Stein's (2000) two-tiered agency model and aims to examine how firms' external business environment affects the “fourth quarter effect.”
Design/methodology/approach
The authors implement this study in a sample of 41 countries and observe similar seasonality in firm investment as documented in the US market.
Findings
More importantly, using country characteristics, this study finds that firms from countries with better investor rights and protection, and more developed financial markets show less severe over-investment in the fourth fiscal quarter.
Originality/value
This paper contributes to the literature of law and finance, and the internal capital market, by investigating the quarterly investment patterns of firms from 41 countries. The authors find that similar to the results in earlier studies on the US market, firms in the global market increase their capital expenditure in the fourth fiscal quarter, indicating that the internal agency conflicts between the headquarters and divisional managers are widespread across the world. The authors also find that firms that operate in countries with higher investor rights and protection, and more developed financial markets, tend to show less severe “fourth quarter effect”.
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Brajesh Mishra and Avanish Kumar
Globally, the governance has shifted from positivist to the regulatory-centric approach, necessitating accurate contouring of regulatory governance framework. The study proposes a…
Abstract
Purpose
Globally, the governance has shifted from positivist to the regulatory-centric approach, necessitating accurate contouring of regulatory governance framework. The study proposes a novel approach to unravel the regulatory governance framework in the context of the Indian electronics industry – extendable to other sectors in India and other emerging economies.
Design/methodology/approach
The research objective has been operationalized through document analysis and thematic analysis of semi-structured interview transcripts in three steps: (1) arrive at parameters of the regulatory governance framework, (2) identify instruments against each parameter and (3) characterize parameters in terms of dominant instruments and their underlying modalities. The authors have adopted a set of 6 Cs modalities (control, communications, competition, consensus, code and collaboration) and regulatory space theory to analyze existing modalities mix in the dominant instruments.
Findings
In summary, the study has (1) identified eight macro and twenty micro regulatory governance parameters, (2) mapped regulatory governance parameters with instruments and institutions (3) revealed the top two dominant modalities for each regulatory governance parameter.
Practical implications
The existing modality characteristics of regulatory governance parameters can be used by manufacturers, investors and other stakeholders to make a realistic assessment of regulatory governance and reduce regulatory risk and regulatory burden.
Originality/value
The multidimensional use of parameters, instruments and modalities broadens the understanding of the existing regulatory governance framework and may assist the regulators in optimizing it to meet market requirements.
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Taher Hamza, Zeineb Barka, Jean-François Verdie and Maher Al Sayah
This paper aims to investigate empirically the impact of economic policy uncertainty (EPU) on small-to-medium enterprises’ (SMEs) investment efficiency and whether product market…
Abstract
Purpose
This paper aims to investigate empirically the impact of economic policy uncertainty (EPU) on small-to-medium enterprises’ (SMEs) investment efficiency and whether product market competition influences this association.
Design/methodology/approach
The study was conducted on French SMEs listed on the “CAC Mid & Small” Index over 2008–2021. This paper proposes a quantitative approach to test the relationship between the EPU and SME investment efficiency.
Findings
These findings show that EPU significantly alleviates SMEs’ investment inefficiency, reflected in the reduction of overinvestment and underinvestment. As EPU increases, firms with more exposure to such uncertainty invest more efficiently, and their overinvestment tendency becomes lower, while reducing the risk of underinvestment. These results are still significant after a series of robustness checks. Further analysis shows that EPU mitigates investment inefficiency to a greater extent for firms operating in highly competitive industries, and better information environments.
Research limitations/implications
This study was limited to the French EPU index and could be extended to a European or even international scale. Moreover, using alternative uncertainty indexes across various European countries can be more advantageous in further studies. Although results suggest that EPU affects investment efficiency, future studies could further explore the mechanisms through which EPU affects SMEs’ investment efficiency and, in particular, across different industries. Understanding these variations due to the specific industry-EPU sensitivity can provide valuable insights. Finally, it would be interesting to examine the risk management strategies adopted by SMEs in the face of EPU, combined with other growing risks, such as climate risk.
Practical implications
In the face of high EPU, SME managers must improve risk management, adopt appropriate investment strategies, consider using predictive analytics or economic forecasting tools and embrace technology and innovation that enhance agility and responsiveness to policy uncertainty. Besides, political decision-makers should adapt their regulatory policies (tax, labor, housing, etc.) to preserve the efficiency of SME investment.
Originality/value
Although the debates on how policy uncertainty affects the investment and financing of large businesses have received a great concern of academia, to the best of the authors’ knowledge, this is the first study that focuses on the effect of EPU on investment distortions for SMEs.
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James Kroes, Anna Land, Andrew Steven Manikas and Felice Klein
This study investigates whether the underrepresentation of women in executive-level roles within the supply chain management (SCM) field is justified or the result of gender…
Abstract
Purpose
This study investigates whether the underrepresentation of women in executive-level roles within the supply chain management (SCM) field is justified or the result of gender injustices. The analysis examines if there is a gender compensation gap within executive-level SCM roles and whether performance differences or other observable factors explain disparities.
Design/methodology/approach
Publicly reported executive compensation and financial data are merged to empirically test if gender differences exist and investigate whether the underrepresentation of women in executive-level SCM roles is unjust.
Findings
Women occupy only 6.29% of the positions in the sample of 447 SCM executives. Unlike prior studies, we find that women executives receive higher compensation. The analysis does not identify observable factors explaining the limited inclusion of women in top-level roles, suggesting that gender injustices are prevalent in SCM.
Research limitations/implications
This study only considers observable factors and cannot conclusively determine if discrimination is occurring. The low level of inclusion of women in executive roles suggests that gender injustice is intrinsic within the SCM profession. These findings will hopefully motivate firms to undertake transformative actions that result in outcomes that advance gender equity, ultimately leading to social justice for female SCM executives.
Originality/value
The use of social justice and feminist theories, a focus on SCM roles, and an empirical methodology utilizing objective measures represents a novel approach to investigating gender discrimination in SCM organizations, complementing prior survey-based studies.
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