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In this paper we provide an in‐depth comparative analysis of the shares of listed firms in three Southeast Asian stock markets, namely, Indonesia, Malaysia and Thailand, that had experienced the most violent fluctuations in the 1997 market crash. Our purpose is to present broad lessons from the experiences of these countries that could be helpful to understand the behavior of stock markets under severe financial crisis. Several new results are found: (1) There were local price bubbles prior to the market crash in each country. (2) Price momentum may have contributed to the share price increase prior to the crash but not during the period of crisis or the market reversal. (3) The price bubbles in these countries were mainly among the most liquid and most volatile shares. (4) Asset liquidity was found to cause returns to behave differently in quiet versus extraordinary period.

The purpose of this paper is to investigate the effect of corruption level in steering the business–government relations (BGRs) in developing countries. It also examines the moderating effect of firm size.

Using robust tobit and probit models, this study tests the response behavior of 9787 firms from 23 African countries to their government's policy and regulations and the direct effect of corruption control level in their response decisions. The authors also perform several other additional analyses to ensure the robustness of the findings, including change analysis, two-stage model and recursive bivariate model.

The result shows that corruption level is among the significant factors that drive BGRs exponentially. The finding points out that, there is a strong alliance of business and government in more corrupt countries. Moreover, the impact of corruption level exacerbates when the firm is bigger.

Managers should focus more on activities that create long-term sustainable advantage. Valuable time of the senior managers should not waste on negotiating government policies to earn a short term advantages.

It is evident that legal and transparent government alliances can lead to economic rent for firms. However, it is important to note that any alliance based on corruption and illegality is short-lived and ultimately detrimental to long-term prosperity. Therefore, it is crucial for firms to prioritize ethical business practices and build relationships with governments that prioritize transparency and accountability.

Given the detrimental impact of corruption on economic progress, it is crucial for Africa policy-makers to prioritize reforms aimed at reducing its adverse effect. By implementing ethical and transparent business practices, countries can attract more investment and promote economic growth.

This study contributes to the existing literature on the passive form of political connectivity/activity and to what extend corruption level affect the political activities of firms.

The purpose of this paper is to engage in a comprehensive review of the research on information technology (IT)-mediated international market-entry alliances.

This paper provides a theory-informed conceptual framework of IT-enabled cross-border interfirm relationships and performance outcomes. It integrates perspectives of resource-based view (RBV) and transaction cost economics (TCE) to argue that the establishment of interfirm IT capabilities enhances the marketing performance of the foreign partner in the host location by improving interfirm relationship governance. Furthermore, IT-related risks and contextual restrictions are identified as important moderators.

Conceptualisations of IT capabilities, IT-enhanced interfirm governance, and IT-led marketing performance improvement are suggested. Drawing on RBV and TCE, IT resources, related human resources, and IT integration between partner firms in combination enhances the ability of firms to manage the relationship more effectively through shared control, interfirm coordination, cross-firm formalisation, and hybrid centralisation. These benefits then bring about better upstream and downstream marketing performance in the host location. Additionally, IT capabilities help to mitigate possible contextual limitations and risks.

The paper offers a number of theory- and literature-informed research propositions which can be empirically tested in future studies.

Top managers of firms currently in or planning to enter international alliances for market entry should carefully consider effective development of interfirm IT capabilities in terms of readiness of hardware and software, human resources, and organisational resources.

The paper provides an integrated framework and propositions which contribute to limited understanding and appreciation of IT value in international market-entry alliances.

This chapter begins with a reflection on the call for investigating how entrepreneurial competencies are developed (Bird, 1995) in the context of university-based entrepreneurship centers. Through clarifying the nature of entrepreneurial competencies and applying a social constructivist perspective of learning, it is proposed that effective nurturing of entrepreneurial competencies for university students through entrepreneurship centers shall be based on five key characteristics; namely, active experimentation, authenticity, social interaction, sense of ownership, and scaffolding support. The chapter contributes to the literature through establishing a link between entrepreneurship education and entrepreneurial competencies in the context of university-based entrepreneurship centers, which have become an increasingly popular way for promoting entrepreneurial development. The practical implications on nurturing entrepreneurs through entrepreneurship centers are discussed, together with the directions for further research. This chapter is designed as a refection upon Bird’s original article articulating the concept of entrepreneurial competencies. In this chapter, the author outlines how entrepreneurial competencies can be developed through education programs, specifically via entrepreneurship centers.

This chapter is building conceptual background of psychological risk for international tourists. Drawing on Place Attachment Theory, Moral Disengagement Theory, Followership Theory, Job Demands-Resources, Acculturation Theory and Goal Progress Theory of Rumination, this chapter proposes a framework of psychological risks with six psychological risks that tourists could encounter in foreign destination: destination detachment risk, moral disengagement risk, risk of false risk assessment, burnout risk, risk of loneliness and risk of rumination. High destination detachment could lead tourists to behave less environmentally friendly, while high moral disengagement could lead tourists to behave less ethically friendly. Followership to the influencers in social media could lead tourists to engage in risk-taking behaviours and false risk assessment, leading to burnout risk, risk of loneliness and risk of rumination, where negative autobiographical memory is created and forming memory-related distress when they arrive homes. Place detachment and moral disengagement risk local environmental and social health, while burnout, loneliness and rumination pose risks for the tourists' psychological health. Several studies propose suggestions for the destination manager and tourists to manage the risk effectively and adequately, including place attachment and moral engagement campaign, careful travel planning and social support.

The purpose of this paper is to present recent work for optimizing the estimation of ease allowance of a garment using fuzzy logic and sensory evaluation.

The current method first generates a number of fuzzy models each corresponding to one specific key body part and one specific wearer's movement and then aggregates all the values of ease allowance generated from these fuzzy models using the ordered weighted averaging (OWA) operator. The aggregated ease allowance takes into account geometric measures on all representative human bodies, comfort sensations of wearers related to all movements or actions and different styles of trousers (tight, normal and loose). The weights of the OWA operator can be used to adjust the compromise between the style of garments and the comfort sensation of wearers. The related weights of the OWA operator are automatically determined according to designer's linguistic criteria characterizing the relationship between wearer's movements and the features of the garment to be designed.

Based on the optimized values of ease allowance generated from fuzzy models related to different key body positions and different wearer's movements, the authors obtain a personalized ease allowance, permitting to further improve the wearer's fitting perception of a garment. The effectiveness of the method has been validated in the design of trousers of jean type. It can also be applied for designing other types of garment.

Integration of wearer's body shapes and human comfort in the design of personalized garments.

This paper aims to understand the factors of the exchange relationship that influence a target-partner’s decisions to adopt virtual governance strategies.

Hypotheses are tested using an online panel of 259 key informants from manufacturing firms that sell goods to retailers. Data are analyzed using structural equation modeling.

The study confirms the hypotheses that the target partner’s trust in the initiating partner is a significant driver of supply chain management system (SCMS) adoption intention. While trust fully mediates the adverse effects of technological uncertainty on adoption intentions, asset specificity directly influences both trust and adoption intentions. Additionally, the initiating-partner’s incentive orientation mitigates these effects and encourages SCMS adoption.

This paper contributes to the study of virtual governance and interorganizational adoption decisions in two primary ways. First, it elucidates the relationship between transaction costs and relational norms. Second, it examines the role that the shadow of past incentives has on the target-partner’s decisions to electronically integrate with the initiating partner.

The findings from this study contribute to the virtual governance and interorganizational technology adoption literature by demonstrating the relevance of characteristics of the exchange relationship in the target-partner’s decision to adopt the SCMS technologies necessary for electronic integration. This study provides a better understanding of the function of transaction costs and relational norms that paves the way for further exploration of the choice to adopt virtual governance strategies.

Given that SCMSs enable virtual governance, the findings of this study make important contributions to understanding how transactional and relational elements of the exchange relationship influence a target-partner’s decisions to participate in vertical control strategies with an initiating-partner.

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and non-economic activities. Researchers have increasingly focused on the adoption and use of ICT by small and medium enterprises (SMEs) as the economic development of a country is largely dependent on them. Following the success of ICT utilisation in SMEs in developed countries, many developing countries are looking to utilise the potential of the technology to develop SMEs. Past studies have shown that the contribution of ICT to the performance of SMEs is not clear and certain. Thus, it is crucial to determine the effectiveness of ICT in generating firm performance since this has implications for SMEs’ expenditure on the technology. This research examines the diffusion of ICT among SMEs with respect to the typical stages from innovation adoption to post-adoption, by analysing the actual usage of ICT and value creation. The mediating effects of integration and utilisation on SME performance are also studied. Grounded in the innovation diffusion literature, institutional theory and resource-based theory, this study has developed a comprehensive integrated research model focused on the research objectives. Following a positivist research paradigm, this study employs a mixed-method research approach. A preliminary conceptual framework is developed through an extensive literature review and is refined by results from an in-depth field study. During the field study, a total of 11 SME owners or decision-makers were interviewed. The recorded interviews were transcribed and analysed using NVivo 10 to refine the model to develop the research hypotheses. The final research model is composed of 30 first-order and five higher-order constructs which involve both reflective and formative measures. Partial least squares-based structural equation modelling (PLS-SEM) is employed to test the theoretical model with a cross-sectional data set of 282 SMEs in Bangladesh. Survey data were collected using a structured questionnaire issued to SMEs selected by applying a stratified random sampling technique. The structural equation modelling utilises a two-step procedure of data analysis. Prior to estimating the structural model, the measurement model is examined for construct validity of the study variables (i.e. convergent and discriminant validity).

The estimates show cognitive evaluation as an important antecedent for expectation which is shaped primarily by the entrepreneurs’ beliefs (perception) and also influenced by the owners’ innovativeness and culture. Culture further influences expectation. The study finds that facilitating condition, environmental pressure and country readiness are important antecedents of expectation and ICT use. The results also reveal that integration and the degree of ICT utilisation significantly affect SMEs’ performance. Surprisingly, the findings do not reveal any significant impact of ICT usage on performance which apparently suggests the possibility of the ICT productivity paradox. However, the analysis finally proves the non-existence of the paradox by demonstrating the mediating role of ICT integration and degree of utilisation explain the influence of information technology (IT) usage on firm performance which is consistent with the resource-based theory. The results suggest that the use of ICT can enhance SMEs’ performance if the technology is integrated and properly utilised. SME owners or managers, interested stakeholders and policy makers may follow the study’s outcomes and focus on ICT integration and degree of utilisation with a view to attaining superior organisational performance.

This study urges concerned business enterprises and government to look at the environmental and cultural factors with a view to achieving ICT usage success in terms of enhanced firm performance. In particular, improving organisational practices and procedures by eliminating the traditional power distance inside organisations and implementing necessary rules and regulations are important actions for managing environmental and cultural uncertainties. The application of a Bengali user interface may help to ensure the productivity of ICT use by SMEs in Bangladesh. Establishing a favourable national technology infrastructure and legal environment may contribute positively to improving the overall situation. This study also suggests some changes and modifications in the country’s existing policies and strategies. The government and policy makers should undertake mass promotional programs to disseminate information about the various uses of computers and their contribution in developing better organisational performance. Organising specialised training programs for SME capacity building may succeed in attaining the motivation for SMEs to use ICT. Ensuring easy access to the technology by providing loans, grants and subsidies is important. Various stakeholders, partners and related organisations should come forward to support government policies and priorities in order to ensure the productive use of ICT among SMEs which finally will help to foster Bangladesh’s economic development.

This chapter examines the impact of urban development through the government provision of public inputs in a developing economy. When a financing constraint is taken into account, an increase in public inputs may worsen urban unemployment and hence reduce welfare of the economy. Further, the optimal level of public-input provision is larger (smaller) than that under full employment, if there exits a positive (negative) employment effect. The theoretical results are confirmed by numerical simulations.