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Article
Publication date: 30 August 2021

Hongxia Zhang and Huixin Yang

To reconcile the existing contradictory conclusions on the relationship between cross-border mergers and acquisitions (M&As) and innovation, this paper aims to propose a…

Abstract

Purpose

To reconcile the existing contradictory conclusions on the relationship between cross-border mergers and acquisitions (M&As) and innovation, this paper aims to propose a theoretical model of the impact of cross-border M&As on technological innovation and explore the moderating role of institutional distance from the perspective of springboard theory and new institutional theory.

Design/methodology/approach

Through the use of the two-way fixed effect model and the U-test method, the authors test the hypotheses based on a sample of cross-border M&A events of Chinese manufacturing enterprises during the period from 2006 to 2019.

Findings

The research shows that there is an inverted U-shaped relationship between cross-border M&As and technological innovation. Furthermore, formal institutional distance moderates the inverted U-shaped relationship in such a way that it reaches its turning point at a smaller scale of cross-border M&As, and the inverted U-shaped relationship is steeper when formal institutional distance is relatively high. The informal institutional distance moderates the inverted U-shaped relationship in such a way that it reaches its turning point at a larger scale of cross-border M&As and the inverted U-shaped relationship is flatter when the informal institutional distance is relatively high.

Originality/value

The research conclusions integrate heterogeneous views of the existing research, further clarify the influence mechanism and boundary conditions between cross-border M&As and technological innovation, identify the different moderating roles of formal institutional distance and informal institutional distance and enrich the literature on knowledge transfer and recombinant innovation during post-merger integration.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 7 January 2019

Muhammad Shahbaz and Avik Sinha

The purpose of this paper is to provide a survey of the empirical literature on environmental Kuznets curve (EKC) estimation of carbon dioxide (CO2) emissions over the…

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Abstract

Purpose

The purpose of this paper is to provide a survey of the empirical literature on environmental Kuznets curve (EKC) estimation of carbon dioxide (CO2) emissions over the period of 1991–2017.

Design/methodology/approach

This survey categorizes the studies on the basis of power of income in empirical models of EKC. It has been hypothesized that the EKC shows an inverted U-shaped association between economic growth and CO2 emissions.

Findings

For all the contexts, the results of EKC estimation for CO2 emissions are inconclusive in nature. The reasons behind this discrepancy can be attributed to the choice of contexts, time period, explanatory variables, and methodological adaptation.

Research limitations/implications

The future studies in this context should not only consider new set of variables (e.g. corruption index, social indicators, political scenario, energy research and development expenditures, foreign capital inflows, happiness, population education structure, public investment toward alternate energy exploration, etc.), but also the data set should be refined, so that the EKC estimation issues raised by Stern (2004) can be addressed.

Originality/value

By far, no study in the literature of ecological economics has focused on the empirical estimation of EKC for CO2 emissions. This particular context has been used for this study, as CO2 is one of the highest studied pollutants in the ecological economics, and especially within the EKC hypothesis framework.

Details

Journal of Economic Studies, vol. 46 no. 1
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 7 June 2021

Banruo Zhang, Zijie Li, Xiaomeng Li and Ziqi Liu

The speed of internationalization is an important research topic in the process of internationalization. This paper aims to answer two questions: first, what is the…

Abstract

Purpose

The speed of internationalization is an important research topic in the process of internationalization. This paper aims to answer two questions: first, what is the relationship between the speed of internationalization of Chinese multinational firms and their performance? Second, how do potential slack and knowledge assets of firms affect this relationship?

Design/methodology/approach

The authors choose Chinese A-share listed manufacturing firms from 2009–2018 as the research sample and use the fixed-effect regression model to test the proposed hypotheses.

Findings

Firstly, there is an inverted U-shaped relationship between the speed of internationalization and firm performance (SI-P). Secondly, the potential slack and knowledge assets of firms moderate the inverted U-shaped relationship. Firms with a higher level of potential slack or knowledge assets have a flatter inverted U-shaped relationship between SI-P.

Originality/value

First, the authors develop and extend Penrose’s theory of firm growth to the research topic of speed of internationalization. Second, this paper incorporates the time dimension into the research on the internationalization process and locates the research context in emerging market firms (EMFs). This is a step forward in clarifying the complex relationship of SI-P. Third, the authors show that the SI-P relationship of EMFs is inverted U-shaped and integrate previous studies, which argue that rapid internationalization positively or negatively affects firm performance. Fourth, starting from inside the firm, the authors provide more contextual factors for better understanding and analysis of the SI-P relationship.

Details

Chinese Management Studies, vol. 15 no. 5
Type: Research Article
ISSN: 1750-614X

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Article
Publication date: 25 April 2019

Jian Li, Yishu Li, Yue Yu and Ling Yuan

This paper aims to shed some new light on the mixed findings of previous empirical studies on the effect of knowledge search breadth (SB) on firms’ 2019 innovation…

Abstract

Purpose

This paper aims to shed some new light on the mixed findings of previous empirical studies on the effect of knowledge search breadth (SB) on firms’ 2019 innovation performance (IP).

Design/methodology/approach

The paper adopts a contingent approach that examines the two organizational factors in determining the shape of the SB-IP curve. The empirical study is based on survey data gathered from 414 Chinese firms. In dealing with concerns on simultaneity and reverse causality, perceived time-lag between outcome variable and explanatory variables was introduced.

Findings

This study reveals that knowledge novelty and absorptive capacity are two functions underlying the SB-IP relationship. The results also indicate that innovation orientation and firm age moderate the SB-IP relationship in different ways: the more innovation-oriented the firm, the steeper the inverted U-shaped SB-IP relationship will be, while the older the firm, the flatter the SB-IP relationship will be. Interestingly, there is strong evidence for the shape-flip phenomenon of the SB-IP curve: SB has an inverted U-shaped effect on IP when a firm is young; however, SB has a U-shaped effect when the firm is older than 37 years.

Originality/value

By revealing two underlying functions and two moderators of the association between SB and IP at the firm level, this paper contributes to shed some new light to the mixed results reported by previous empirical studies that have examined the effect of knowledge search on firm innovation.

Details

Journal of Knowledge Management, vol. 23 no. 5
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 1 April 2021

Miaomiao Yang, Juanru Wang and Jin Yang

The purpose of this paper is to investigate how boundary-spanning search affects sustainable competitive advantage under the conditions that competitors also search and to…

Abstract

Purpose

The purpose of this paper is to investigate how boundary-spanning search affects sustainable competitive advantage under the conditions that competitors also search and to test the moderating role of knowledge integration capability.

Design/methodology/approach

This paper classifies boundary-spanning search into proactive search and responsive search by considering competition and develops a theoretical model in which knowledge integration capability moderates the effects of proactive and responsive searches on sustainable competitive advantage. Empirical analyses were conducted on the data of 245 Chinese advanced manufacturing firms.

Findings

The results show that proactive and responsive searches have inverted U-shaped relationships with sustainable competitive advantage. Moreover, the relationships between proactive and responsive searches and sustainable competitive advantage are moderated by knowledge integration capability. Specifically, as knowledge integration capability increases, the inverted U-shaped relationship between proactive search and sustainable competitive advantage becomes flatter, whereas the inverted U-shaped relationship between responsive search and sustainable competitive advantage becomes almost linear.

Originality/value

This paper enriches the research of boundary-spanning search by considering competition and uncovers how boundary-spanning search affects sustainable competitive advantage under the conditions that competitors also search. Furthermore, this paper sheds light on that the effects of proactive and responsive searches on sustainable competitive advantage are even more complex than inverted U-shaped patterns and provides a contingent viewpoint to deeply understand the relationship between boundary-spanning search and sustainable competitive advantage.

Details

Baltic Journal of Management, vol. 16 no. 3
Type: Research Article
ISSN: 1746-5265

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Article
Publication date: 23 November 2021

Bao-Guang Chang and Kun-Shan Wu

The purpose of this paper is to study the influence of financial flexibility (FF) on enterprise performance (EP) within Taiwan’s hospitality industry during the COVID-19…

Abstract

Purpose

The purpose of this paper is to study the influence of financial flexibility (FF) on enterprise performance (EP) within Taiwan’s hospitality industry during the COVID-19 shock and explore whether EP varies with hospitality industry characteristics.

Design/methodology/approach

Secondary data of 39 Taiwan Stock Exchange-listed hospitality firms were collected from the Taiwan Economic Journal databases. Quantile regression analysis was applied to examine the FF-EP relationship

Findings

The results evidence that there is a U-shaped (convex) FF-EP relationship for hospitality firms in the 10th, 25th and 50th Tobin’s Q quantiles and in asset-heavy firms. For asset-light firms, FF has an inverted U-shaped (concave) effect on EP in the 90th Tobin’s Q quantile

Practical implications

The empirical results highlight the need for Taiwan’s hospitality industry as a whole to take rolling adjustment and optimization of FF and concentrate on liquidity risk management after the COVID-19 pandemic and for long-term sustainability.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to examine the nonlinear FF-EP relationship in the hospitality industry of Taiwan, particularly amid the COVID-19 shock. Moreover, this study extends current literature by revealing the hospitality industry’s FF-EP relationship and highlights the importance of the pandemic crisis context.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 2
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 24 December 2021

Siyu Hou, Zhaoyang Guo, Chuangneng Cai and Xiaobo Jiao

The purpose of this study is to examine the influence of firm performance on corporate social responsibility (CSR) and its possible moderating effect. Despite the…

Abstract

Purpose

The purpose of this study is to examine the influence of firm performance on corporate social responsibility (CSR) and its possible moderating effect. Despite the significance of CSR, there remains an extensive debate about how it is affected by firm performance.

Design/methodology/approach

The conceptual model is mainly built on goal-setting theory. Based on archival data from multiple data sets on 1,650 companies, collected from 2010 to 2017, the hypotheses are tested using the two-stage instrumental variable regression method.

Findings

There is an inverted U-shaped relationship between firm performance and CSR that first increases and then decreases. In addition, considering the boundary conditions, state ownership makes the inverted U-shaped curve steeper, while high executive wage concentration makes the inverted U-shaped curve flatter.

Research limitations/implications

This study harmonizes the traditional contradictory findings of the influence of firm performance on CSR, that is, it supports a positive, negative or neutral relationship between the two.

Originality/value

This research provides a necessary structure for the CSR literature. By delving deeply into the relationship between firm performance and CSR, it enables scholars to better address the critical management question of whether earning more will lead to doing good.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

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Book part
Publication date: 29 August 2007

J. Myles Shaver

As a field, we should put more emphasis on interpreting the magnitude of coefficient estimates rather than only assessing statistical significance. To support this claim…

Abstract

As a field, we should put more emphasis on interpreting the magnitude of coefficient estimates rather than only assessing statistical significance. To support this claim, I demonstrate how focusing only on statistical significance can lead to incorrect and incomplete conclusions in many common applications of the linear regression model. Moreover, I demonstrate why interpreting coefficient estimates in common non-linear estimators (e.g., probit, logit, Poisson, and negative binomial estimators) requires additional care compared to the linear regression model.

Details

Research Methodology in Strategy and Management
Type: Book
ISBN: 978-0-7623-1404-1

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Article
Publication date: 17 December 2020

Beatrice Orlando, Alice Mazzucchelli, Antonio Usai, Melita Nicotra and Francesco Paoletti

The study aims to investigate the interplay among digital technologies, intellectual capital and innovation. Thus far, there have been scant research on such intricate…

Abstract

Purpose

The study aims to investigate the interplay among digital technologies, intellectual capital and innovation. Thus far, there have been scant research on such intricate bundle of interactions. Also, the findings of previous studies were rather inconclusive, because conflicting results emerged over time. Building on the existence of heterogeneous evidences, this study solved the detected criticism by suggesting a curvilinear relationship among digital technologies, digital skills of human capital and intellectual property. Specifically, we argue that the relationship between digital technologies and intellectual property is inverted u-shaped.

Design/methodology/approach

Hypotheses are tested by applying a generalized linear model (GLM) regression analysis and a quadratic model for non-linear regression. The study analysed a large-scale sample of micro-data drawn from Eurostat. Such sample embraces the population of firms operating in all European member states.

Findings

Overall, the results of the study confirm that digital technologies are curvilinearly related to intellectual property. Precisely, the curve is inverted u-shaped. Notably, results show that digital skills only matter when employees have very demanding duties to accomplish. In all other cases, digital skills do not affect intellectual property significantly.

Research limitations/implications

The research is solely focused on firms' operating in the European Union. Future studies should extend the analysis to other geographies.

Practical implications

At a real impact level, the study suggests that intellectual property is only partially fostered by digital skills and digital technologies. In this sense, digital skills might be overrated.

Originality/value

Differently from prior research, this study originally detangles the impact of digital technologies on firm's intellectual capital by suggesting the existence of an inverse u-shaped relationship between variables.

Details

Journal of Intellectual Capital, vol. 22 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

Open Access
Article
Publication date: 10 November 2020

Aparna Sajeev and Simrit Kaur

Based on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this study is to investigate the relationship between environmental pollutants (as…

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1579

Abstract

Purpose

Based on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this study is to investigate the relationship between environmental pollutants (as measured by CO2 emissions) and GDP for India, over the period 1980–2012. The presence of an invertedU” shape relationship is examined while controlling for factors such as the degree of trade openness, foreign direct investment, oil prices, the legal system and industrialization.

Design/methodology/approach

To verify whether the EKC follows a linear, quadratic or polynomial form, autoregressive distributed lag (ARDL) bounds testing approach for cointegration with structural breaks is adopted. The annual time series data for carbon emissions (CO2), economic growth (GDP), industrial development (industrialization), foreign direct investment and trade openness have been obtained from World Development Indicators online database. Crude oil price (international price index) for the period is collected from the International Monetary Fund. Data for total petroleum consumption are collected from the US Energy Information Agency. Data for economic freedom variables are from the Fraser Institute's Economic Freedom Index's online database.

Findings

The findings support the existence of inverted U-shaped EKC in the short-run, but not in the long-run. A linear monotonic relationship has also been estimated in select model specifications. Additionally, trade openness has been estimated to reduce emissions in models, which incorporate FDI. Else, where significant, its impact on carbon emissions is adverse. A rise in fuel price leads to reduction in carbon emissions across model specifications. Further, the lower size of government degrades the environment both in the long-run and short-run.

Practical implications

Given the existence of the pollution haven hypothesis, wherein more trade and foreign direct investments cause environmental degradation, the paper proposes formulation of appropriate regulatory mechanisms that are environmentally friendly. Additionally, India's new economic policies, favoring liberalization, privatization and globalization, reinforces the need to strengthen environmental regulations.

Originality/value

Incorporation of economic freedom as measured by the “Size of Government” in the EKC model is unique. “Size of Government” deserves a special mention. The rationale for including this explanatory variable is to understand whether countries with lower government size are more polluting. After all, theory does suggest that goods and services, which have higher social cost vis-à-vis private cost, shall be overproduced in economies that adopt more market-friendly policies, necessitating government intervention. In the study, size of government is measured as per the definition and methodology adopted by Fraser Institute's Economic Freedom of the World Index.

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