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Macro‐environmental scanning is a first step in strategic planning, which is essential in an emerging industry such as liquid biofuels. The purpose of this paper is to identify the dimensions within which the governments of Brazil, the USA and Germany have constructed the macro‐environment for liquid biofuels over time and to test for similarities between the governments’ constructs.

Documentary research was carried out on official public policies and program documents on the topic of liquid biofuels, covering a ten‐year period from 1997 to 2006. The database consisted of 624 documents from the Brazilian government, 854 from the American government and 168 documents from the German government. Text mining was used to extract information from the texts by applying a specific analysis structure that was built on macro‐environmental dimensions as expressed by their respective dimensional words “d‐words”. The “d‐words” were selected based on their usage frequency in the knowledge fields related to each dimension.

The results indicate that the macro‐environments for liquid biofuels, as configured by the governments under analysis, differ systematically and over time in their emphasis of specific macro‐environmental dimensions.

There are two primary aspects of this study which are original and valuable: the application of text‐mining techniques as a tool for strategic planning and the development of a particular tool to extract knowledge from text documents and to categorize them according to their macro‐environmental dimensions.

Through the literature, the effect of macro-environment on onshore outsourcing decisions appears rather unexplored, despite empirical evidence. The purpose of this paper is to address this gap through an extension of Transaction Cost Economics (TCE) (the main theory of domestic outsourcing).

This paper develops a framework based on a literature review. It applies this body of knowledge on a new question and provides detailed illustrations (with primary and secondary data).

This paper builds a theoretical framework, based on the concept of transition costs. This concept, created as a way to make the economizing approach more dynamic, highlights the influences of the macro-environment. This paper presents a clarification of transition costs. It formulates a theoretical proposition: the environment has an effect on outsourcing through the transition costs.

This framework deserves to be tested through an empirical study.

This framework enables domestic providers to take the environment and transition costs into account for the design and timing of outsourced service.

This framework enables to consider the importance of social conflicts and political measures on the domestic outsourcing decisions.

First, this paper addresses an unexplored question (the effect of macro-environment on onshore outsourcing decisions). Second, it refines an undertheorized TCE concept: the transition costs. Third, it proposes a new direction in the current debate of the evanishing explanatory power of the TCE on outsourcing (by extending this theory).

Traditionally, firms have been dependent on internal sources such as their own employees – and up to a certain extent, on some external sources, their customers – for innovation. However, in the current scenario of technological dynamism, firms are exploring multiple sources to generate ideas for innovation. Therefore, there is a need to understand the relative effect of various sources of innovations on a firm’s performance.

We offer a conceptual framework where we identify six distinct sources of innovations – firm, customers, external network, competition, macro-environment, and technology and how they create value for focal firms especially their brand equity. We introduce a taxonomy of various costs and benefits related to innovations. We then argue using our proposed taxonomy to understand the relative strengths of various sources of innovation affecting a firm’s brand equity.

We discuss and compare the relative effects of these sources of innovations on a firm’s brand equity by rank-ordering the sources. The customers and the technology as a source of innovation have the maximum impact on the firm’s brand equity followed by the marginal impact of macro-environment and external network of a firm. The firm itself has a moderate impact on its brand equity, while competition has the minimal impact. Further, we also discuss how the relationship is moderated by different innovation characteristics (nature and type of innovations).

The main practical implication is to create awareness among managers about various costs and benefits of the proposed six sources of innovations and their effects on brand equity. Managers would be able to prioritize their sources of innovation based on firms’ current needs, and whether to focus on lower costs or building higher brand equity in the scarce resource environment.

We offer a comprehensive list of six sources of innovation, build a conceptual framework wherein we discuss the relative strengths of these sources affecting brand equity.

The purpose of this paper is to decipher the levels of three strategic orientations – learning orientation, entrepreneurial orientation (proactiveness and risk taking) and marketing orientation (responsiveness to customers, responsiveness to competitors, responsiveness to the macro-environment and business relationship quality) – that are necessary for firm innovativeness.

Data were collected from a sample of 316 firms in Ho Chi Minh City, Vietnam. Multiple regression analysis (MRA) was employed to examine the net effects of seven factors (learning orientation, proactiveness, risk taking, responsiveness to customers, responsiveness to competitors, responsiveness to changes in the macro-environment and business relationship quality) on firm innovativeness. Necessary condition analysis (NCA) was then employed to discover the level of these factors as necessary conditions for firm innovativeness.

The results produced by MRA show that learning orientation, proactiveness, responsiveness to customers and responsiveness to competitors have positive effects on firm innovativeness. The results from the NCA reveal that six out of seven conditions exhibit varying necessary levels for firm innovativeness.

The findings are relevant to senior managers and suggest that the levels of strategic orientations necessary for firm innovativeness vary. Firms therefore should pay attention not only to the net effects (beta weights) but also to their necessary levels. Based on their resources and capabilities, firms should take into account the necessary level of each strategic orientation in order to achieve their innovativeness goal.

This study is among the first to decipher the levels of three strategic orientations (learning orientation, entrepreneurial orientation and marketing orientation) that are necessary for firm innovativeness.

The purpose of this paper is to explore how the macro-environment influences consumer scepticism towards cause-related marketing (CRM), especially in a turbulent economic setting.

An exploratory qualitative research study utilising open-ended, semi-structured Skype interviews with 26 respondents was conducted in a country experiencing economic crisis.

The findings demonstrate that respondents hold a strong scepticism towards CRM campaigns and they are more negative towards the CRM campaigns initiated by foreign enterprises as compared to the domestic ones. This can be attributed to ethnocentrism, or even antipathy or animosity towards foreign companies due to crisis. Furthermore, results reveal that the political and legal elements of the macro-environment have an impact on consumer scepticism towards CRM campaigns, while the impact of the economic crisis itself did not seem to be equally significant.

This work contributes to the existing literature of CRM as it is the first study that explores the impact of macro-environmental elements on consumer scepticism towards CRM within an economic turbulence setting.

The aim of this paper is to present a review of the developments in the Greek construction sector since the year 2000.

The Greek construction sector – one of the most dynamic sectors of the Greek economy – grew quite strongly over the last decade. The paper follows a rather more descriptive approach to examine and analyse the factors that significantly boosted construction activity in Greece since the year 2000. It also studies and critically analyses the extent to which the Greek macro‐environment (legal‐political, economic, socio‐cultural, technological and demographic), as part of a broader nexus of domestic and global dynamics, affects construction companies.

The results indicate that the domestic and global macro‐environment have a substantial effect to the market participants in the Greek construction sector. The ability of the Greek construction companies to deal with, and in some cases take advantage of, the constantly changing domestic and global macro‐environment is expected to crucially affect their future viability and success.

This analysis of the Greek construction sector should be useful for industry professionals, policy‐makers and real estate lenders.

To the best of the authors’ knowledge, none of the existing studies in this area provides systematic treatment of the state of the macro‐environment as a contributory factor in explaining the performance of the Greek construction companies. The authors believe that this issue is an important one, especially in the case of industries such as construction, which is prone to cyclical activity.

The purpose of this paper is to employ a necessary condition analysis (NCA) approach to investigate the level of necessity of two conditions, marketing capability, including responsiveness to customers, responsiveness to competitors, responsiveness to the macro environment, and business relationship quality, and innovativeness capability for firm performance.

Using a survey data set collected from a sample of 311 Vietnamese firms, this study explored the levels of necessity of the components of marketing capability and innovativeness capability by NCA. The study also tested the net effects of these components on firm performance by multiple regression analysis (MRA).

The MRA results reveal that except for responsiveness to the macro environment, other components of marketing capability and innovativeness capability have positive effects on firm performance. Further, firm size affects performance but industry types do not. The NCA results indicate that these conditions exhibit different levels of necessity for the occurrence of firm performance.

A major limitation of this study is the exploration of necessary levels of only two key firm capabilities, i.e., marketing and innovativeness. Several other capabilities, such as, research and development, operations capabilities, and other market-based assets should be investigated in future research.

The findings suggest that firms should pay attention not only to the net effects (β weights) but also to the levels of necessity of firm capabilities for their target outcome.

This study is among first studies investigating the levels of necessity of marketing capability and innovativeness capability for firm performance.

The purpose of this paper is to offer a new gender‐aware framework to provide a springboard for furthering a holistic understanding of women's entrepreneurship.

The paper builds on an existing framework articulating the “3Ms” (markets, money and management) required for entrepreneurs to launch and grow ventures. Drawing on institutional theory, it is argued that this “3M” framework needs further development and “motherhood” and “meso/macro environment” are added to extend and mediate the “3Ms” and construct a “5M” framework to enable the study of women's entrepreneurship in its own right.

It was found that “Motherhood” is a metaphor representing the household and family context of female entrepreneurs, which might have a larger impact on women than men. The meso/macro environment captures considerations beyond the market, such as expectations of society and cultural norms (macro), and intermediate structures and institutions (meso).

For the women entrepreneur, this analysis has implications for understanding the sources of the challenges they face by providing insights on the importance of the interplay of both individual and societal factors that impact on their enterprise. For policy makers, it turns the spotlight on the need for an integrated approach for fostering female entrepreneurs that is not blind to overarching institutionalised social structures and gender asymmetries.

The framework helps lay a foundation for coherent research on women's entrepreneurship. It is unique in making explicit the social embeddedness of women entrepreneurs and considers the multiple levels of influence on their entrepreneurial actions.

This chapter analyzes how the macro-environment determines corporate dividend decisions. First, political factors including political uncertainty, economic policy uncertainty, political corruption, and democracy may have two opposite effects on dividend decisions. For example, firms learn democratic practices to improve their corporate governance, but dividend policy may be the outcome of strong corporate governance or the substitute for poor corporate governance. Second, firms in countries of high national income, low inflation, and highly developed stock markets tend to pay more dividends. A monetary restriction (expansion) reduces (increases) dividend payments, as economic shocks like financial crises and the COVID-19 may negatively affect corporate dividend policy through higher external financial constraint, economic uncertainty, and agency costs. On the other hand, they may positively influence corporate dividend policy through agency costs of debt, shareholders' bird-in-hand motive, substitution of weak corporate governance, and signaling motive. Third, social factors including national culture, religion, and language affect dividend decisions since they govern both managers' and shareholders' views and behaviors. Fourth, firms tend to reduce their dividends when they face stronger pressure to reduce pollution, produce environment-friendly products, or follow a green policy. Finally, firms have high levels of dividends when shareholders are strongly protected by laws. However, firms tend to pay more dividends in countries of weak creditor rights since dividend payments are a substitute for poor legal protection of creditors. Furthermore, corporate dividend policy changes when tax laws change the comparative tax rates on dividends and capital gains.

This study is motivated in part by the fact that the unfolding 2022 bear market, which has reached the −25% drawdown, has not been preceded by the inverted 10Y-3 m spread or an inverted near-term forward spread.

The authors develop a three-factor probit model to predict/explain the deep stock market drawdowns, which the authors define as the drawdowns in excess of 20%.

The study results show that (1) the rising credit risk predicts a deep drawdown about a year in advance and (2) the monetary policy easing precedes an imminent drawdown below the 20% threshold.

This study three-factor probit model shows adaptability beyond the typical recessionary bear market and predicts/explains the liquidity-based selloffs, like the 2022 and possibly the 1987 deep drawdowns.