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Book part
Publication date: 19 September 2014

Fabio Zambuto, M. V. Shyam Kumar and Jonathan P. O’Brien

We propose that in addition to its resources and capabilities, a firm’s capital structure and financial health will act as an important determinant of its attractiveness…

Abstract

We propose that in addition to its resources and capabilities, a firm’s capital structure and financial health will act as an important determinant of its attractiveness as an alliance partner. Alliances with leveraged firms are prone to unplanned termination due to financial distress, which puts at risk the value embedded in the collaboration. As a result, ceteris paribus, highly leveraged firms will be viewed as less desirable partners in the market for interfirm collaboration when compared to low leverage firms. In support of this proposition, we find that when forming an alliance firms tend to partner with other firms with similar levels of leverage: low-leverage firms partner with other low-leverage firms while high-leverage firms partner with other high-leverage firms, as well as with lower quality ones. Furthermore, we show that alliances with highly leveraged firms are more likely to involve equity participation as a form of ex post protection, especially when they involve partners with relatively lower leverage. Finally, we show that leverage is negatively related to the intensity of alliance activity, suggesting that firms also maintain lower leverage in their capital structure in order to attract potential partners. Overall our results imply that financial policies regarding capital structure have an important role to play in alliancing activity.

Details

Finance and Strategy
Type: Book
ISBN: 978-1-78350-493-0

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Book part
Publication date: 6 October 2008

M.V. Shyam Kumar

In this research, we address the following questions: (1) Do joint ventures (JVs) create value for both parent firms in the dyad? (2) How is the total value created in the…

Abstract

In this research, we address the following questions: (1) Do joint ventures (JVs) create value for both parent firms in the dyad? (2) How is the total value created in the venture influenced by resources and capabilities of the two parent firms? In addressing these questions, our objective is to provide added insight into the performance of JVs by shifting the level of analysis to the dyad from the individual parent firm. Our results indicate that a significant proportion of JVs created value for both parents. However, there was also considerable evidence of value destruction with a large proportion of JVs resulting in positive returns to one parent and negative returns to the other. In terms of the second question, we find that the total value created in a JV increases as the value of resources in the dyad increases and decreases with the differential in the value of resources between parents. We argue that the latter effect occurs because when there is a wide differential in capabilities, incentives are shifted away from joint value creation and cooperative behavior toward non-cooperative behavior and appropriating private benefits. Our findings broadly highlight the important role of private benefits in JVs and provide evidence that these benefits significantly influence the performance and dynamics of inter-firm collaboration in various ways.

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Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-1-84855-100-8

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Article
Publication date: 24 May 2011

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

For commerical organizations to engage in strategic collaboration with universities is nothing new – especially in the more developed parts of the world – but the focus on desired outcomes has become more intense.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

Details

Strategic Direction, vol. 27 no. 7
Type: Research Article
ISSN: 0258-0543

Keywords

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Book part
Publication date: 6 October 2008

Abstract

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-1-84855-100-8

To view the access options for this content please click here
Book part
Publication date: 19 September 2014

Abstract

Details

Finance and Strategy
Type: Book
ISBN: 978-1-78350-493-0

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Article
Publication date: 18 April 2020

Rishabh Rajan, Sanjay Dhir and Sushil

The purpose of this study is to examine the existing literature and evaluate the theories, characteristics, context and methods of alliance termination research published…

Abstract

Purpose

The purpose of this study is to examine the existing literature and evaluate the theories, characteristics, context and methods of alliance termination research published from 1992 to 2019. This study also aims to identify the gaps in the literature and recognize directions for future research focusing on alliance termination research.

Design/methodology/approach

The main research methods followed in this study are bibliometric review, citation analysis, co-citation analysis and cluster analysis.

Findings

The main findings of this study are the most cited articles, most productive journals and most productive countries. The results show that a total of 100 research articles were published between 1992 and 2019. The maximum number of publications were observed during 2011–2019. The article “Knowledge, bargaining power, and the instability of international joint ventures” (Inkpen and Beamish, 1997) was the most cited article and the “Academy of Management Review” was the most prominent journal, with 847 citations. The USA, France, the UK, Singapore and Canada are the most productive countries. The study also includes the analysis of the network of co-citation of references and co-occurrence of keywords in the context of alliance termination research.

Originality/value

To the best of authors’ knowledge, this study seems to be the first to perform bibliometric review and analysis in the area of alliance termination research. Therefore, it can help academicians and practitioners to identify the research trends and gaps in the alliance termination literature on which future research can be performed. Overall, this research paper leads to a better understanding of the alliance termination research and offers new insights into strategic management studies.

Details

Journal of Strategy and Management, vol. 13 no. 3
Type: Research Article
ISSN: 1755-425X

Keywords

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Article
Publication date: 24 September 2020

Deepak S. Kumar, Keyoor Purani and Shyam A. Viswanathan

This paper aims to introduce the concept of biomorphism (i.e. indirect experience of nature) in servicescape designs and validates its impact on consumer responses. Using…

Abstract

Purpose

This paper aims to introduce the concept of biomorphism (i.e. indirect experience of nature) in servicescape designs and validates its impact on consumer responses. Using the stimulus-organism-response (S-O-R) framework, this study explores the relationship between biomorphic servicescape designs and the servicescape preference. Further, it explains how biomorphic designs can help users to get better connected with the servicescapes by introducing the mediating role of attention restoration and place identity (emotional and cognitive), as explained by attention restoration theory.

Design/methodology/approach

Two empirical studies were carried out to test the hypothesised relationships: an exploratory pre-experimental design with one-shot treatment using 200 images as stimuli and 3,680 responses; and a 3 × 2 factorial design with three-dimensional images with about 654 responses for three service contexts chosen a priori: fashion retail, restaurant and hospital lobby.

Findings

This study conceptualises the role of biomorphism – elements that mimic natural forms – in servicescape designs and establishes that, akin to natural elements, the indirect experience of nature in servicescapes also has a positive influence on attention restoration, perceived place identity and servicescape preference of the consumers. This implies that the effects similar to that of a biophilic servicescape can be achieved through servicescape elements that mimic natural forms.

Originality/value

Extending the idea of biophilia, this research adopts the concept of biomorphism from architecture and environmental psychology domains and introduces biomorphic servicescape designs, which could be more practical at times compared to biophilic servicescapes. It establishes the influences of biomorphic servicescape designs on consumer preferences. Grounded in the S-O-R model, it further explains this relationship through mediating effects of attention restoration and place identity. Being new to marketing and management domains, this research may trigger a series of research studies on biomorphic service environment designs, with desirable implications for services marketing and services operations functions.

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Article
Publication date: 8 January 2021

Manabu Miyao

This study aims to provide a comprehensive explanation of the linkage between premium segments and product innovation. While previous literature confirms that product…

Abstract

Purpose

This study aims to provide a comprehensive explanation of the linkage between premium segments and product innovation. While previous literature confirms that product innovation triggers premium segment emergence, and vice versa, there is no satisfactory explanation regarding the underlying mechanisms that drive the mutual shaping of premium segments and product innovation. This paper attempts to address this gap in literature.

Design/methodology/approach

This study employs a cognitive model of technology trajectories and empirically examines the Japanese rice cooker market using a mixed-methods approach. The methods used consist of content analyses of newspaper articles and press releases and case analyses of manufacturers' new product development.

Findings

Content analyses show the emergence of a premium segment within the Japanese rice cooker market as well as a simultaneous change in technology trajectories. Case analyses subsequently reveal the mechanisms that link the premium segment emergence and technology trajectory changes. The analyses also explore this linkage in detail; market actors' technological frames and interpretation processes mediate the mutual shaping of the premium segment and product innovations.

Originality/value

This study presents quantitative evidence indicating the emergence of a premium segment and changes in technology trajectories. It provides a qualitative explanation for the linkage between these two phenomena, which may serve as a viable foundation for future research in premium strategy.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

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Book part
Publication date: 19 December 2017

Rahul Suresh Sapkal and K. R. Shyam Sundar

The growing incidence of precarious employment across many sectors is a serious challenge for a developing country like India. Neo-liberal arguments justify precarity as…

Abstract

The growing incidence of precarious employment across many sectors is a serious challenge for a developing country like India. Neo-liberal arguments justify precarity as essential for the development of the free market economy and advocate realigning human resource practices with an ever-changing business environment and labor cost conditions. This chapter seeks to identify the determinants and dynamics surrounding precarity of workers engaged in temporary employment in India. It uses the unique Employment and Unemployment Survey data set published by the National Sample Survey Organisation of Government of India for two time periods 2009–2010 (66th Round) and 2011–2012 (68th Round) to bring out the dimensions of precarity and identify the determinants (both micro- and macro-levels) of participation in temporary employment. We find that precarious employment is most likely to affect the young, women, non-union members, those belonging to minority and socially deprived communities with low land holding and low educational status. Precarious employment is also most pronounced in states where labor-intensive industries are exposed to global import competition and where labor laws are rigid. The chapter concludes by discussing the implications of these findings for the economic and social policies that Indian governments have adopted in recent years.

Details

Precarious Work
Type: Book
ISBN: 978-1-78743-288-8

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Article
Publication date: 29 June 2020

Henrik Nielsen and Thomas Borup Kristensen

This paper aims to study the relations between lean operations, lean principles in finance functions and the roles of finance functions.

Abstract

Purpose

This paper aims to study the relations between lean operations, lean principles in finance functions and the roles of finance functions.

Design/methodology/approach

The paper uses structural equation modeling to analyze data from 408 different firms in the Danish production and services sectors. A dyadic approach is applied, as a sub-sample of 107 chief operating officers in the responding firms is used to investigate the construct validity, reliability and average deviation index of the instrument measuring the roles of finance functions.

Findings

The paper finds that lean-operation firms emphasize four different yet interdependent roles of finance functions. The paper also finds that lean operation leads to firms’ finance functions adopting lean principles.

Research limitations/implications

This paper characterizes lean-operation firms as contextually ambidextrous to predict relations between lean operation and roles of finance functions. The paper expands prior case study findings on the roles of finance functions in lean-operation firms, and the findings of the paper underline that finance functions continue to play an important role in these firms.

Practical implications

Decision-makers in lean-operation firms should not be hesitant with respect to integrating finance function workers into the lean operation. Furthermore, decision-makers should understand that a balanced emphasis of the roles of finance functions is necessary to avoid overemphasizing exploitation at the expense of exploration, or vice versa.

Originality/value

To the best of the authors’ knowledge, this is the first paper to provide large-scale evidence of the roles of finance functions in lean-operation firms and to show that lean principles diffuse to finance functions. Furthermore, the paper introduces a new instrument for measuring finance function roles, based on the competing values framework.

Details

European Business Review, vol. 32 no. 4
Type: Research Article
ISSN: 0955-534X

Keywords

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