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1 – 10 of 271Sabina Szymczak, Aleksandra Parteka and Joanna Wolszczak-Derlacz
The study aims to examine the joint effects of foreign ownership (FO) and involvement in global value chains (GVCs) on the productivity performance of firms from a catching-up…
Abstract
Purpose
The study aims to examine the joint effects of foreign ownership (FO) and involvement in global value chains (GVCs) on the productivity performance of firms from a catching-up country (Poland) and a leader economy (Germany).
Design/methodology/approach
The authors use micro-level data on firms combined with several sector-level GVC participation measures. The authors investigate whether the link between productivity and the overall sectoral degree of involvement in global production structures depends on a firm's ownership. The authors verify the robustness of the obtained results by using an instrumental variables approach and weighted regression.
Findings
The results show that domestically owned firms are less productive than foreign ones, which is particularly true at low GVC participation levels. However, as GVC involvement increases, the FO productivity premium decreases, leading to productivity catching up between foreign and domestically owned firms. This mechanism is similar in Poland and Germany. However, in the leader country (Germany), the productivity performance of domestically owned firms is more stable along the distribution of GVC involvement.
Originality/value
This study contributes to the foreign direct investment (FDI)–productivity literature by comparing the catching-up and developed countries' perspectives and incorporating the productivity–GVC relationship into the FDI analysis. The authors show that the FO premium is not confined to the developing context but is also present in a leader country. Moreover, the link between productivity and the overall sectoral degree of involvement in global production structures depends on a firm's ownership.
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Varun Kumar Rai and Dharen Kumar Pandey
With a sample of 22 banks, this study examines the significance of the news contents about the privatization of two public sector banks in India. New information does impact the…
Abstract
Purpose
With a sample of 22 banks, this study examines the significance of the news contents about the privatization of two public sector banks in India. New information does impact the stock markets. This study provides evidence on how the privatization of public sector banks impacted the returns of the Indian banking sector.
Design/methodology/approach
This study employs the standard event study methodology with the market model for estimating the normal returns.
Findings
The statistical results indicate that while the private sector banks experienced positive average abnormal returns on the event day, the cumulative effect of the announcement is negatively significant for both private and public sector banks. The statistical results also provide evidence of information leakage, with significant results before the announcement date. The shorter event windows analysis exhibits significant positive returns in the 5-days [−2, +2] window for the private sector banks and the entire sample, signifying a positive short-term impact on the private sector banks.
Originality/value
The event study literature captures the impacts of many events. However, to the best of our knowledge, the impacts of the privatization of the Indian public sector banks have never been examined using the event study methodology. Hence, this study anticipates being the first-ever study to fill this gap and extend the available literature in finance. In addition, although we provide Indian evidence, future studies may be oriented to capture cross-country impacts.
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Robert Ebo Hinson, Ibn Kailan Abdul-Hamid and Ellis L.C. Osabutey
Market orientation and positioning have been widely recognized as organizational metrics linked to hotel performance. The purpose of this study is to offer the link among market…
Abstract
Purpose
Market orientation and positioning have been widely recognized as organizational metrics linked to hotel performance. The purpose of this study is to offer the link among market orientation, positioning and hotel performance in Ghana’s (luxury) hotel sector. It also reports on the joint influence of market orientation and positioning on hotel performance in the same sector.
Design/methodology/approach
Three hypotheses were investigated on the link between market orientation and hotel performance, positioning and hotel performance, and the joint effect of market orientation and positioning on hotel performance. A survey of star-rated (luxury) hotels in the capital city of Ghana was used. One hundred and five responses were used in the analysis. Descriptive statistics, exploratory factor analysis and hierarchical regression were used to test the three hypotheses.
Findings
All hypotheses were accepted. Market orientation and positioning jointly affect hotel performance, and the study provides hotel managers with suggestions on how to enhance their performance via market orientation and positioning.
Research limitations/implications
Market orientation, positioning, and performance measures focused on management perspectives without including perceptions of customers.
Originality/value
This study is one of the few attempts to systematically investigate the intertwined concepts of market orientation, positioning and performance in a developing economy hospitality context.
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Nishat Alam Choudhury, Seongtae Kim and M. Ramkumar
The purpose of this research work is to examine the financial effect of supply chain disruptions (SCDs) caused by coronavirus disease 2019 (COVID-19) and how the magnitude of such…
Abstract
Purpose
The purpose of this research work is to examine the financial effect of supply chain disruptions (SCDs) caused by coronavirus disease 2019 (COVID-19) and how the magnitude of such effects depends on event time and space that may moderate the signaling environment for shareholder behaviors during the pandemic.
Design/methodology/approach
This study analyses a sample of 206 SCD events attributed to COVID-19 made by 145 publicly traded firms headquartered in 21 countries for a period between 2020 and 2021. Change in shareholder value is estimated by employing a multi-country event study, followed by estimating the differential effect of SCDs due to the pandemic by event time and space.
Findings
On average, SCDs due to pandemic decrease shareholder value by −2.16%, which is similar to that of pre-pandemic SCDs (88 events for 2018–2019). This negative market reaction remains unchanged regardless of whether stringency measures of the firm's country become more severe. Supply-side disruptions like shutdowns result in a more negative stock market reaction than demand-side disruptions like price hikes. To shareholder value, firm's upstream or downstream position does not matter, but supply chain complexity serves as a positive signal.
Originality/value
This study provides the first empirical evidence on the financial impact of SCDs induced by COVID-19. Combining with signaling theory and event system theory, this study provides a new boundary condition that explains the impact mechanism of SCDs caused by the pandemic.
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Barbara Orser, Xiaolu (Diane) Liao, Allan L. Riding, Quang Duong and Jerome Catimel
This paper aims to inform strategies to enhance public procurement opportunities for women-owned small- and medium-sized enterprises (SMEs). To do so, the study examines two…
Abstract
Purpose
This paper aims to inform strategies to enhance public procurement opportunities for women-owned small- and medium-sized enterprises (SMEs). To do so, the study examines two research questions: To what extent are women-owned enterprises under-represented among SME suppliers to government; and Do barriers to public procurement – as perceived by SME owners – differ across gender?
Design/methodology/approach
The study draws on the resource-based view (RBV) of the firm and on theories of role congruity and social feminism to develop the study’s hypotheses. Empirical analyses rely on comparisons of a sample of 1,021 SMEs that had been suppliers to government and 9,376 employer firms that had not been suppliers to government. Data were collected by Statistics Canada and are nationally representative. Logistic regression analysis was used to control for systemic firm and owner differences.
Findings
Controlling firm and owner attributes, majority women-owned businesses were underrepresented as SME suppliers to government in some, but not all sectors. Women-owned SMEs in Wholesale and Retail and in Other Services were, ceteris paribus, half as likely as to be government suppliers as counterpart SMEs owned by men. Among Goods Producers and for Professional, Scientific and Technical Services SMEs, there were no significant gender differences in the propensity to supply the federal government. “Complexity of the contracting process” and “difficulty finding contract opportunities” were the obstacles to contracting cited most frequently.
Research limitations/implications
The limitations of using secondary analyses of data are well documented and apply here. The findings reflect only the perspectives of “successful bidders” and do not capture SMEs that submitted bids but were not successful. Furthermore, the survey did not include questions about sub-contractor enterprises, data that would likely provide even more insights about SMEs in government supply chains. Accordingly, the study could not address sub-contracting strategies to increase the number of women-owned businesses on government contracts. Statistics Canada’s privacy protocols also limited the extent to which the research team could examine sub-groups of small business owners, such as visible minorities and Indigenous/Aboriginal persons. It is also notable that much of the SME literature, as well as this study, define gender as a dichotomous (women/female, men/male) attribute. Comparing women/female and men/males implicitly assumes within group homogeneity. Future research should use a more inclusive definition of gender. Research is also required to inform about the obstacles to government procurement among the population of SMEs that were unsuccessful in their bids.
Practical implications
The study provides benchmarks on, and directions to, enhance the participation of women-owned SMEs or enterprises in public procurement. Strategies to support women-owned small businesses that comply with United Nations Sustainable Development Goals are advanced.
Social implications
The study offers insights to reconcile economic efficiency and social (gender equity) policy goals in the context of public procurement. The “policy-practice divides” in public procurement and women’s enterprise policies are discussed.
Originality/value
The study is among the first to use a feminist lens to examine the associations between gender of SME ownership and public procurement, while controlling for other salient owner and firm attributes.
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The purpose of this study is to examine the effect of bank-specific, industry-specific and macroeconomic determinants of bank profitability amongst domestic UK commercial banks.
Abstract
Purpose
The purpose of this study is to examine the effect of bank-specific, industry-specific and macroeconomic determinants of bank profitability amongst domestic UK commercial banks.
Design/methodology/approach
This study used an empirically driven single equation framework that incorporates the traditional structure–conduct–performance (SCP) hypothesis. A generalised method of moments technique was applied to a panel of UK banks covering the period 1998–2018 to account for profit persistence.
Findings
The estimation results show that all bank-specific determinants, with the exception of credit risk, significantly affect bank profitability in the anticipated way. However, no evidence was found in support of the SCP hypothesis. Interest rates, especially longer-term interest rates, and the rate of inflation has a significant effect on bank profitability, with the business cycle having a symmetric insignificant effect once other variables have been accounted for. Profitability persists to a moderate extent within the UK banking market, indicating that there exists a departure from a perfectly competitive market structure.
Originality/value
The literature that examines the actual underlying determinants of UK domestic bank profitability is limited.
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Mattia Filomena and Matteo Picchio
This study aims to investigate the heterogeneous results about the impact of temporary jobs on subsequent labour market performances and to provide policymakers with further…
Abstract
Purpose
This study aims to investigate the heterogeneous results about the impact of temporary jobs on subsequent labour market performances and to provide policymakers with further information on the effects of temporary contracts under particular circumstances.
Design/methodology/approach
The authors present a quantitative systematic review on the debate about the “stepping stone vs dead end” hypothesis related to the causal effect of temporary jobs on future labour market performances.
Findings
Among 78 observations from 64 articles, 32% support the hypothesis according to which temporary contracts are a port of entry into stable employment positions, 23% report ambiguous or mixed findings and the remaining 45% provide evidence in favour of the dead end hypothesis. The results from meta-regressions suggest that the stepping stone effect is more likely to emerge when self-selectivity issues are dealt with. The studies focussing on temporary work agency jobs and casual/seasonal jobs support more easily the dead end hypothesis. Finally, in more recent years and when the unemployment rate is larger, the dead end hypothesis is more likely to prevail.
Originality/value
Although many studies have been published on this issue, to the best of the authors’ knowledge, there are no recent analytic economic surveys on the “stepping stone vs dead end” debate. The main contribution of this article is to fill this gap.
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A. Banu Goktan, Alka Gupta, Subhendu Mukherjee and Vishal K. Gupta
The link between social interaction and entrepreneurial activity has attracted considerable attention in the entrepreneurship literature. In this study, we focus on individual…
Abstract
The link between social interaction and entrepreneurial activity has attracted considerable attention in the entrepreneurship literature. In this study, we focus on individual cultural values, shaped by interactions in the social space, as they relate to opportunity evaluation, a cornerstone of the entrepreneurial process. We test our predictions in India, a non-Western society that has sustained one of the highest rates of entrepreneurial activity in the world. Our findings suggest that value orientation of high power distance is negatively associated with opportunity evaluation whereas uncertainty avoidance, collectivism, and femininity are positively associated with opportunity evaluation.
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Muhammad Ishtiaq Ishaq, Huma Sarwar, Simona Franzoni and Ofelia Palermo
Considering the significance of the human resource management (HRM) and corporate social responsibility (CSR) relationship, the aim of this research is twofold: first is to…
Abstract
Purpose
Considering the significance of the human resource management (HRM) and corporate social responsibility (CSR) relationship, the aim of this research is twofold: first is to measure the cultural differences between HRM, CSR and sustainable performance relationship (study 1) and second is to identify the how HRM instigates CSR and sustainable performance (study 2) in the hospitality industry of UK and Pakistan.
Design/methodology/approach
A mixed-method approach was used to collect the qualitative and quantitative data from upscale hotels. In Study 1, a multi-respondent and time-lagged strategy was employed to collect the data from 162 Pakistani and 290 UK upscale hotels. In Study 2, in-depth semi-structured interviews were conducted to understand the HRM–CSR–performance nexus.
Findings
The results of Study 1 highlight the significant cultural differences in the relationships of HRM–CSR–performance, while Study 2 explains that ethical culture, shared objectives, transparency, training and development, and economic incentives are the factors that push the employees to take part in CSR-related activities and attaining higher sustainable performance.
Originality/value
This study addresses the debate on the difference between cross-cultural studies related to implementing Western theories in shaping, developing and implementing business strategies, including CSR, HRM and sustainable performance in an Asian context.
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Rafaela Alfalla-Luque, Darkys E. Luján García and Juan A. Marin-Garcia
The link between supply chain agility (SCA) and performance has been tested in previous research with different samples and results. The present paper quantitatively analyses and…
Abstract
Purpose
The link between supply chain agility (SCA) and performance has been tested in previous research with different samples and results. The present paper quantitatively analyses and summarises the impact of SCA on performance found in previous empirical papers and determines the influence of several identified moderators.
Design/methodology/approach
Using a meta-analysis approach based on a systematic literature review, a total of 63 empirical papers comprising a sample of 14,469 firms were meta-analysed to consider substantive (type of performance and SCA operationalisation) and extrinsic (economic region and industry) moderators.
Findings
Results confirm a significantly large, positive correlation between SCA and performance. None of the analysed moderators has enabled the identification of any significant differences between the SCA and performance correlations by subgroup. However, high heterogeneity in total variance, both in the full sample and the subgroups by moderator, demands further rigorously reported empirical research on this topic with clearly conceptualised variables and frameworks and the use of validated scales.
Research limitations/implications
Several research gaps and best practice recommendations have been indicated to improve future empirical research on this topic.
Practical implications
Practitioners in different economic regions and industries will find consistent evidence of improvements in performance through SCA.
Originality/value
No meta-analysis has been found in previous research to estimate the value of the correlation between SCA and performance and the influence of moderating variables.
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