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The purpose of this paper is to investigate the relationship between the industry relatedness of directors’ multiple directorships and corporate governance effectiveness. The authors posit that a director gains “beneficial experience” by serving on outside boards of companies in related industries, with a resulting increase in governance effectiveness. Conversely, they predict a decrease in governance effectiveness when directors serve on outside boards of companies in unrelated industries.

Using publicly available data, a Tobit regression model is used to examine the effect of the industry relatedness of board members’ multiple directorships on corporate governance effectiveness.

The results demonstrate a significant positive correlation between the industry relatedness of directors’ multiple directorships and corporate governance effectiveness. It was found that this industry relatedness effect is stronger for directors of small companies than large company directors. The paper also documents a significant negative effect on governance effectiveness for small firms whose directors increase their board service on non-industry-related boards.

Prior research has examined the “Busyness Hypothesis” and the “Experience Hypothesis” as mutually exclusive hypotheses. This paper extends prior research by examining the possibility that the two hypotheses are not competing, but rather that both an experience effect and a busyness effect may be present for directors serving on multiple boards, and that one of the effects will dominate the other, based on certain company-specific characteristics.

Recently, sustainability aspects are gaining importance among supply chain management (SCM) research field, hence this study aims to explore barriers to sustainable supply chain management (SSCM) implementation in Egyptian industries and the interrelationships among these barriers to provide a structured detailed model for barriers and suggest recommendations to deal with these barriers.

The paper is an empirical study with a descriptive research approach using qualitative methodology. Data were collected through interviewing experts involved in sustainability implementation within supply chain functions. Afterward interpretive structural modeling (ISM) for barriers was conducted to develop a structured model representing possible interrelationships between barriers.

Findings have reported slight differences among barriers to SSCM implementation in Egyptian industries other than those stated previously. ISM analysis helped in shaping barriers into a detailed structured model where interrelationships among barriers can be clearly defined. Additionally, based on the data collected and the ISM model, this study managed to offer recommendations to deal with these barriers.

Future researches might consider developing ISM analysis for a smaller number of barriers, or focus on each of internal and external barriers individually to minimize ISM analysis complexity and enhance its accuracy. As ISM analysis technique is highly dependent on experts' opinions and experience, validation is highly recommended either by structural equation modeling (SEM) or linear structural relationship approach.

This study provides insights for managers about internal and external barriers to SSCM implementation in Egyptian industries, a detailed structured model for interrelationships among these barriers and recommendations to deal with these barriers.

This study is one of the very first studies to implement ISM for barriers to SSCM on data collected from Egyptian industries. Consequently, it will direct further research focusing on developing strategies or recommendations to overcome these barriers.

The purpose of this paper is to investigate empirically the effects of quality management practices on operational and business performance.

A reliable and valid survey instrument was used for data gathering from managers in the petroleum industry. A multiple regression analysis was conducted to determine the effect of quality management practices on operational and business performance.

The results indicate that top management support, employee training, and employee involvement are significant variables explaining the variability of operational performance. Furthermore, a multiple regression analysis on business performance indicated the significance of top management support on business performance. The study also shows that customer orientation is not a significant predictor of business performance in the petroleum industry. In addition, focus on practices associated with human resource management (employee training and employee involvement) is critical in improving operational performance.

Managers in the oil and gas industry need to emphasize practices associated with human resource management. Future studies should replicate this study with a larger sample size.

The study contributes to theory validation and development in quality management by investigating the effects of quality management practices on operational and business performance. The paper adds to the body of knowledge in quality management in the international context, specifically in the Middle East. In addition, it advances the literature on the practice of quality management in process industries, such as the petroleum industry.

Aims to examine a comprehensive approach to combine several simple multiple valuation, so as to improve the valuation, accuracy of the simple multiple valuation technique.

In order to combine several simple multiple valuations, the equity value is estimated by a weighted average of the valuation outcomes obtained from several simple multiple valuations. To calculate the weight of each valuation outcome, the out‐of‐sample price‐deflated regression of stock prices on several simple multiple valuation outcomes is conducted. Next, the alternative hypothesis of whether the composite approach yields a higher valuation accuracy than the simple multiple valuation is tested, using the actual stock price of the valued firm as the benchmark to measure the valuation accuracy under the assumption of market efficiency.

It was found that combining several simple multiple valuation outcomes of a firm, each of which is based on a stock price multiple to a historical accounting performance measure of the comparable firms (historical multiple), improves the valuation accuracy of the simple multiple valuation using a single historical multiple. However, further analysis shows that the combination of the simple multiple valuation outcomes based on a stock price multiple to analysts’ earnings forecasts of the comparable firms (forward earnings multiple) and several simple multiple valuation outcomes based on historical multiples does not improve the valuation accuracy of the simple multiple valuation using a forward earnings multiple.

One caveat of this study is that only the linear combination of the simple multiple valuation outcomes is considered. Non‐linear combination of the simple multiple valuation outcomes based on both forward earnings multiple and historical multiples may be able to improve the valuation accuracy of the simple multiple valuation using a forward earnings multiple. This possibility is still an open question.

The findings imply that a historical multiple contains incremental information not captured by other historical multiples, which is useful for the improvement of the valuation accuracy. However, the historical multiples may have no incremental information beyond a forward earnings multiple.

The forward earnings multiples as well as the historical multiples for the equity valuations of broader firms are considered. Given the previous finding that forward earnings multiple presents the highest valuation accuracy among the valuation multiples, it is further investigated whether the composite approach using forward earnings multiple and historical multiples can improve the valuation accuracy of the simple multiple valuation using a forward earnings multiple. In addition, the potential problem of selection bias in the previous study is addressed, which examines only the equity valuations in the tax court.

This study aims to investigate the valuation accuracy of Malaysian initial public offerings (IPOs) by using price-multiple methods.

Cross-sectional data including 467 IPOs listed on the Malaysian stock exchange were used for the period of 2000–2017. This study used univariate ordinary least square (OLS) regression to analyse the relationship between IPOs’ price-multiples and comparable firms’ price-multiples. The test of valuation accuracy was conducted via computing valuation errors by segregating the sample into two groups: fixed-price IPOs and book-built IPOs. Furthermore, multiple OLS regression was used to examine the influence of IPO valuation on underpricing.

The findings of the results suggested that IPOs price-to-earnings (P/E), price-to-book (P/B) and price-to-sales (P/S) multiples were positively related to the median P/E, P/B and P/S multiples of five comparable firms matched by industry and revenues. The P/S multiple was shown to be the most significant valuation method, specifically in book-built IPOs. The findings indicated that those firms that had a lower valuation in comparison to the comparable firms were inclined to underprice their IPOs to allure investors to subscribe IPOs. In addition, book-built IPOs that had fair valuations were inclined to generate higher initial returns for investors.

The findings of this study observed implications for underwriters in avoiding the mis-valuation issue by considering the book-building mechanism.

This study attempted to explore the suitability of the valuation method to value IPOs in Malaysia.

University students are the future driving forces in and leaders of the architectural, engineering and construction (AEC) industry advancement. Although BIM pedagogical studies have been performed in different institutions, there has not been sufficient research providing a global perspective of BIM education and students’ perceptions toward BIM practice and application following their learning progress. The purpose of this paper is to adopt student samples from Swinburne University of Technology (SUT, Australia), Wenzhou University (WZU, China) and University of Brighton (UK) as three case studies to investigate the BIM practice and application-related perceptions and motivations.

Based on the thorough understanding of the BIM pedagogical delivery including teaching contents and assessment methods among the three institutions, a questionnaire survey approach was adopted to collect AEC students’ perceptions of BIM. Within each selected case, statistical analysis was conducted to investigate both the overall sample and subgroup differences regarding students’ opinions on BIM’s functions (e.g. as a 3D visualization tool) and BIM usefulness in various industry professions, their motivation in BIM-related jobs and their perceptions of challenges encountered in BIM practice and application. Multiple factors influencing BIM learners’ perceptions were discussed, such as pedagogical assessment approach, and individual factors (e.g. disciplines).

The results showed that students were able to discern the latest industry practices and critical thinking in BIM movements. For example, SUT students perceived more challenges from the government legislation or incentive policies, which was consistent with Australia’s BIM policy movement. WZU students tended to have less positive views on BIM usefulness. The results also indicated fewer differences regarding perceived challenges among students from these three institutions.

This study contributed to the body of knowledge in managerial BIM by focusing on learners’ perceptions from the perspective of students’ understanding, motivation and individual views of BIM, which were insightful to both BIM educators and employers. By initiating the framework of BIM learning process and its influence factors, the current study serves as a point of reference to continue the future work in strengthening the connection between institutional BIM education and industry practical needs worldwide.

Extant research has demonstrated that marketing channel control can produce both positive and negative effects. This paper aims to use meta-analysis to understand potential sources of those heterogeneous effects. This research also identifies areas in need of future research to help deepen the understanding of marketing channel control.

This study uses meta-analysis to quantitatively review some of the methodological factors that might explain conflicting results uncovered in previous empirical studies.

The results generally show a positive relationship between process and output control and their studied correlates. They also show that the effects of process and output control vary by the methodological factors used to study them. In particular, the effects of process and output control appears to be stronger in industrial (vs consumer) markets, service (vs goods) industries and in studies conducted in non-Western (vs Western) cultures; and output monitoring measures appear to be more effective than output control measures, yet process monitoring appears to be less effective than process control in marketing channels.

This original meta-analysis review of the literature on organizational control in marketing channels shows that the effects of process and output control vary according to the research context investigated as well as the specific measure of control used. The paper presents an agenda to guide future research on this topic to more fully develop knowledge of organizational control in marketing channels.

Intangible assets comprise goodwill and identifiable intangible assets with finite and indefinite lives. Current New Zealand GAAP amortizes intangible assets on a systematic basis over their useful lives, with the proviso that the amortization period for goodwill cannot exceed 20 years. International Financial Reporting Standards (IFRS) do not permit the periodic amortization of goodwill and identifiable intangible assets with indefinite lives. Instead, these intangibles are subject to a periodic impairment test with any impairment recognised in profit or loss. In the absence of an impairment loss, the IFRS rule would increase earnings before interest and tax (EBIT) and earnings (E), but this impact should not affect the value of the enterprise (EV) and the value of the firm’s equity (P). Hence, valuation heuristics for EV/EBIT (enterprise value to EBIT) and PE (price to earnings) multiples, which are commonly used for valuations and which have evolved under the amortization rule, need to be revised downward to adjust for the IFRS‐induced increase in EBIT and E. Our analysis of New Zealand companies with intangible assets indicates that the mean EV/EBIT and PE multiples with amortization of intangibles of 12.403 and 13.586, respectively, decrease to 10.971 and 12.346, respectively, without amortization of intangibles.

This study aims to explore supply chain resilience (SCR) and provides a unique resilience index. The work measures the resilience status of 37 organizations across 22 industries and provides insight into accessing the supply chain (SC) vulnerability in an uncertain environment.

This study involves measuring the resilience status of 37 organizations across 22 industries based on a subjective decision-making approach using fuzzy logic. Experts from industries rated the importance and level of implementation of 33 attributes of SCR, which are used to develop a fuzzy index of implementation that explains the resilience status of organizations.

A novel coexistent resilience index is computed based on mutualism to exhibit the proportion of contribution or learning of each attribute of an organization in an industry. The research will enhance the response plans and formation of strategic alliances for mutual coexistence by industry.

Evidence-based interpretations and suggestions are provided for each industry to enhance resilience through coexistence.

The work uniquely contributes to academic literature and SC strategy. The novel coexistent resilience index is computed based on mutualism, facilitating researchers to access SC resiliency.

Digital innovation and circular business model innovation are two critical enablers of a circular economy. A wide variety of digital technologies such as blockchain, 3D printing, cyber-physical systems, or big data also diverges the applications of digital technologies in circular business models. Given heterogeneous attributes of circular business models and digital technologies, the selections of digital technologies and circular business models might be highly distinctive within and between sectorial contexts. This paper examines digital circular business models in the context of the fashion industry and its multiple actors. This industry as the world’s second polluting industry requires an urgent circular economy (CE) transition with less resource consumption, lower waste emissions and a more stable economy.

An inductive, exploratory multiple-case study method is employed to investigate the ten cases of different sized fashion companies (i.e. large, small medium-sized firm (SME) and startup firms). The comparison across cases is conducted to understand fashion firms' distinct behaviours in adopting various digital circular economy strategies.

The paper presents three archetypes of digital-based circular business models in the fashion industry: the blockchain-based supply chain model, the service-based model and the pull demand-driven model. Besides incremental innovations, the radical business model and digital innovations as presented in the pull demand-driven model may be crucial to the fashion circular economy transition. The pull demand–driven model may shift the economy from scales to scopes, change the whole process of how the fashion items are forecasted, produced, and used, and reform consumer behaviours. The paths of adopting digital fashion circular business models are also different among large, SMEs and startup fashion firms.

The study provides business managers with empirical insights on how circular business models (CBMs) should be chosen according to intrinsic business capacities, technological competences and CE strategies. The emerging trends of new fashion markets (e.g. rental, subscription) and consumers' sustainable awareness should be not be neglected. Moreover, besides adopting recycling and reuse strategies, large fashion incumbents consider collaborating with other technology suppliers and startup companies to incubate more radical innovations.

Appropriate policies and regulations should be enacted to enable the digital CE transition. Market patterns and consumer acceptances are considered highly challenging to these digital fashion models. A balanced policy on both the demand and supply sides are suggested. The one-side policy may fail CBMs that entail an upside-down collaboration of both producers and consumers. Moreover, it is perhaps time to rethink how to reduce unnecessary new demand rather than repeatedly producing and recycling.

The pace of CE research is lagging far behind the accelerating environmental contamination by the fashion industry. The study aims to narrow the gap between theory and practice to harmonise fashion firms' orchestration and accelerate the transition of the fashion industry towards the CE. This study examines diverse types of digital technologies in different circular business models in a homogeneous context of the fashion industry with heterogeneous firm types.