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1 – 5 of 5Raouf Jaziri and Mohammad Saleh Miralam
Psychological and entrepreneurial traits have been widely studied as explicative variables of encouraging entrepreneurial behavior, while their impact on innovative activity is…
Abstract
Purpose
Psychological and entrepreneurial traits have been widely studied as explicative variables of encouraging entrepreneurial behavior, while their impact on innovative activity is less explored. This study examines whether, how and why psycho-entrepreneurial traits and social networks effect innovativeness among women firm owners.
Design/methodology/approach
Analysis of data collected from 304 Saudi women entrepreneurs accompanied by business accelerators provides a wide support with some notable exceptions. We use Structural Equation Modeling technique to estimate how different constructs interact with each other and jointly affect directly or indirectly women's innovativeness behavior in Saudi Arabia.
Findings
Findings point out that innovativeness is positively and significantly affected by emotional intelligence, internal locus of control, entrepreneurial alertness and entrepreneurial self-efficacy. The construct of entrepreneurial self-efficacy mediates the relationship between both business and personal networks and innovativeness. However, professional forums and mentors have no significant effect on innovativeness.
Research limitations/implications
The sample selection is limited to two entrepreneurial support structures especially business accelerator and business incubator. Expanding the context to other support structures can reinforce the implications and provide more valuable results.
Practical implications
The findings are likely to be of applicability for improving women entrepreneurship by entrepreneurial support structures.
Originality/value
This research is original in the sense that it investigated useful insights of innovativeness among Saudi female entrepreneurs.
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The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia…
Abstract
Purpose
The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia Pacific ex Japan, North America and Globe.
Design/methodology/approach
To examine the herd behavior of common risk-factor portfolio investors, this paper utilizes the cross-sectional absolute deviations (CSAD) methodology, covering a daily data sampling period of July 1990 to January 2019 from Kenneth R. French-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama–French five-factor model.
Findings
The results do not provide evidence for herding under normal market conditions, either when reacting to fundamental information or non-fundamental information, for any region under consideration. However, Fama–French common risk-factor portfolio investors mimic the underlying risk factors in returns related to size and book-to-market value, size and operating profitability, size and investment and size and momentum of the equity stocks in European and Japanese markets during crisis period. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions except for Japan. Ancillary findings are discussed under conclusion.
Research limitations/implications
Further research on new risk factors explaining stock return variation may help improve the model performance. The performance can be improved by adding new risk factors that are free from behavioral bias but significant in explaining common stock return variation. Also, it is necessary to revisit the existing common risk factors in order to understand behavioral aspects that may affect cost of capital calculations (e.g. pricing errors) and valuation of investment portfolios.
Originality/value
This is the first paper that examines the herd behavior (fundamental and non-fundamental) of Fama–French common risk-factor investors using five-factor model.
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This paper aims to establish a theoretical framework that can comprehensively explain the executive compensation in state-owned enterprises (SOEs) within the context of socialism…
Abstract
Purpose
This paper aims to establish a theoretical framework that can comprehensively explain the executive compensation in state-owned enterprises (SOEs) within the context of socialism with Chinese characteristics.
Design/methodology/approach
The author develops a theoretical framework for executive compensation in SOEs from the perspective of Marxist economics and points out that the executives in SOEs are engaged in management labor, and their compensation should adhere to the principle of distribution according to labor contribution.
Findings
Based on this theory, the author posits that the continuous upward trend of executive compensation in SOEs, is consistent with the trend of SOEs' ongoing expansion, which reflects a continuous improvement of SOE executives' management labor in both quality and quantity.
Originality/value
It is necessary to start with Marxist economic theory and scientifically study the issue of SOE executive compensation, adhere to the principle of distribution according to work in the context of a socialist market economy and implement the specific guideline of the Party Central Committee; only in this way can the long-term healthy development of SOEs be promoted continuously.
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