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In order to provide an updated view on the drivers of German stock returns, the authors evaluate the relative performance of nine competing neoclassical asset pricing models in the German stock market between November 1991 and December 2021.

The authors conduct asymptotically valid tests of model comparison when the extent of model mispricing is gauged by the squared Sharpe ratio improvement measure of Barillas et al. (2020).

The study finds that the Fama and French six-factor model with both traditional and updated value factors emerges as the dominant model.

The authors shed new light on the drivers of German stock returns through an updated and extended period of analysis, wider range of potential models and utilization of valid asymptotic tests of model comparison when models are nonnested (Barillas et al., 2020).

Cumulative capability models are dominating frameworks explaining how manufacturing organizations gain their performance capabilities, such as quality, delivery, flexibility and cost. When innovation capabilities are excluded from the framework, the models are incapable of explaining how companies sustain substantive capabilities in a changing environment. Responding to this gap, the purpose of this paper is to propose and test a “sand cone” cumulative capability model that includes the innovation competitive performance alongside the competitive performance of quality, delivery flexibility and cost.

Two competing cumulative models were proposed. The extended cumulative capability model hypothesizes the development of innovation in sequence with other competitive performance dimensions. The affected with innovation cumulative model hypothesizes innovation performance as a predecessor of other performance dimensions. The models were tested using a multimethod approach on a representative sample of 500 manufacturing companies. An analysis of correlations among competitive performance, frequencies of plants following prescribed sequences, fit statistics of covariance-based structural equation modeling and analysis of strength and statistical significance of path coefficients enabled us to select a model that best represents the collected data.

The findings reveal that innovation competitive performance operates as a predecessor of quality, delivery, flexibility and cost and is developed in relation to these performance dimensions. The modified model also provides a theoretical explanation of how innovation performance helps to sustain reliable production systems that can perform consistently over time within a tolerable range of quality, delivery, flexibility and cost performance.

The results are significant for practitioners, especially for companies that are operating in volatile environments because the results provide insight on how to develop innovation competitive performance in relation to quality, delivery, flexibility and cost performance.

This study extends the cumulative capability models with innovation competitive performance. It advances the contingency approach on cumulative capability models.

Relationship quality (RQ) is nowadays seen as a main source of competitive advantage. This study aims at enhancing our understanding of RQ by testing and comparing three alternative business‐to‐business (B2B) RQ models from an interpersonal perspective.

A mail survey was employed and 1,126 firm representatives provided their perceptions of their relationships with their counterparts in hotels, yielding a 48.4 per cent response rate. Data was analysed through structural equations modelling with LISREL.

Findings clarified the way RQ key constructs connect, as well as the relative importance of their dimensions. Trust was the dominant dimension of RQ, which contributed to strengthen the pivotal role of trust as a RQ key construct. Problem‐ solving behaviour and selling orientation were the most important dimensions of customer orientation.

Due to possible limitations inherent to the chosen research approach, longitudinal studies in different research settings that may improve the generalisability of the results are suggested for future investigations.

Results emphasised customer orientation as an additional, crucial building block of RQ, drawing the attention to the pivotal role of (designated) relationship managers, the “part‐time” marketers who act as the “face” of the organization, in maximising B2B RQ.

New and relevant insights are provided regarding the relative importance of the dimensions of each RQ key construct, which will help relationship managers to evolve from a selling to a counselling approach, thereby promoting commitment, trust, and mutuality of goals, towards the improvement of the quality of the relationships between business partners.

The purpose of this paper is to investigate as well as select various significant demand pull (DP) strategies affecting sustainable development (SD) in manufacturing organizations. The study deploys the structural equation modeling (SEM) technique to empirically validate the interrelationships between significant DP strategies and SD indicators in an SEM-DP Model.

Confirmatory factor analysis approach is applied to generate an effective SEM-DP model using the AMOS 21 (Analysis of Moment Structures) software. The data have been collected from different manufacturing organizations practicing DP strategies, using a well-framed DP questionnaire for the evolution of the SEM-DP model.

SEM of various DP strategies like stringent implementation of government regulations (SIGR), transforming capabilities, unionized labor (UL), and customer attributes (CA) toward achieving SD in manufacturing industries has been performed. The SEM-DP model has been planned and reports obtained before and after modification indices of the model are correlated, which further establishes improvements in the model’s effectiveness. The research concludes that significant DP strategies, namely, SIGR, UL, and CA support the manufacturing industries in accomplishing SD in terms of competitiveness, business performance enhancements, flexibility, customer satisfaction, and technological development.

In the present study, contributions of DP practices are determined to accomplish SD in Indian manufacturing organizations only. Hence, the results obtained may need some modifications before applying to other countries. Moreover, issue-wise independent modeling can also be performed to assess the importance of DP practices under specific orientations.

The results of various interrelationships among DP practices and SD indicators in the SEM-DP model portray the effectiveness of DP practices for achieving organizational goals and social commitments.

The outcomes of the study will help DP practitioners, organizational managers, and HR executives in the manufacturing industries to develop a clear understanding about the significant DP strategies to be followed holistically for accomplishing SD. The manufacturing enterprises will be able to frame and organize their policies, handle their UL issues and CA in a more appropriate way. Hence, the knowledge obtained from present study will help improve the overall performance of manufacturing industries involved in the present context.

The purpose of this paper is to investigate and select various significant technology push (TP) strategies affecting sustainable development in manufacturing organizations. The study deploys structural equation modeling (SEM) technique to empirically validate the interrelationships amongst significant TP strategies and sustainable development indicators in SEM-TP Model.

Confirmatory factor analysis approach is utilized to generate an effective SEM-TP Model by using AMOS 21 (Analysis of Moment Structures) software. The data have been collected from different manufacturing organizations practicing TP strategies, using a well-framed TP questionnaire for the evolution of SEM-TP Model.

SEM modeling of various TP strategies like, innovative capability (IC), research and development, corporate strategy (CS) and export orientation towards achieving sustainable development in manufacturing industries has been performed. SEM-TP Model has been planned and reports obtained before and after modification indices (MI) of the model are correlated, which further establishes improvements in model’s effectiveness. The research concludes that two TP strategies namely, IC and CS are found to be significant in the present context. These strategies have emerged as a foundation for several development initiatives and actively support manufacturing industries in achieving sustainable development. The results obtained from final model may support organizational managers and TP practitioners to improve the overall performance of manufacturing industries involved in the present study. The manufacturing enterprises will be able to frame or enhance their corporate strategies and innovative capabilities in a more appropriate way.

In the present study, contributions of TP practices are determined to accomplish sustainable development in manufacturing industries. Otherwise, issue-wise independent modeling can also be performed to assess the importance of TP practices towards achieving quality and sustainable development under specific orientations.

The research gives priority to enhancement in the coordination among various TP practices and sustainable development parameters in the industries, to inculcate TP as a crucial strategy to meet challenges in global markets.

It has been exhibited from model that adequate TP strategies can effectively contribute towards recognition of sustainable development to compete in the highly progressive markets. The results of various interrelationships among TP practices and sustainable development indicators in SEM-TP Model portray the effectiveness of TP practices for accomplishment of organizational and social ambitions.

The outcomes of the study will help organizational managers, HR executives and TP practitioners in manufacturing industries to know about the significant TP strategies to be followed holistically for achieving sustainable development.

Revenue insurance is the most popular form of insurance available in the US federal crop insurance program. The majority of crop revenue policies are sold with a harvest price replacement feature that pays out on lost crop yields at the maximum of a realized or projected harvest price. The authors introduce a novel actuarial and statistical approach to rate revenue insurance policies with exotic price coverage: the payout depends on an order statistic or average of prices. The authors examine the price implications of different dependence models and demonstrate the feasibility of policies of this type.

Hierarchical Archimedean copulas and vine copulas are used to model dependence between prices and yields and serial dependence of prices. The authors construct several synthetic exotic price coverage insurance policies and evaluate the impact of copula models on policies covering different types of risk.

The authors’ findings show that the price of exotic price coverage policies is sensitive to the choice of dependence model. Serial dependence varies across the growing season. It is possible to accurately price exotic coverage policies and we suggest these add-ons as a possible avenue for developing private crop insurance markets.

The authors apply hierarchical Archimedean copulas and vine copulas that allow for flexibility in the modeling of multivariate dependence. Unlike previous research, which has primarily considered dependence across space, the form of exotic price coverage requires modeling serial dependence in relative prices. Results are important for this segment of the agricultural insurance market: one of the main areas that insurers can develop private products around the federal program.

The purpose of this paper is to examine the impact of cultural factors on environmental CSR attitudes and purchase intentions among publics in a developed (USA) country and a developing (India) country.

Using a 2 (location of the company: India vs USA) × 2 (location of the CSR activity: India vs USA) between-subjects experimental design, the study examines individuals’ attitudes and behavioral intentions toward a company’s environmental CSR activities in each respective country.

Two structural equation models were created for US publics and Indian publics. Results indicated that cultural factors, specifically the uncertainty avoidance dimension, play an important role among both Indian and US residents’ attitudes toward a company’s environmental CSR efforts and their intention to purchase its products/services. Among Indians, the power distance dimension acted as a mediating factor.

This study is novel in its examination of the impact of cultural factors among residents in India and the USA. This information can be utilized by multinational companies to implement effective CSR activities and enhancing their global CSR communication efforts.

The purpose of this paper is to value the patents of pharmaceutical companies using discounted cash flows, and compare the value-relevance of these assets against alternative intangible asset measures such as reported intangible assets and R & D capital.

The study values pharmaceutical intangibles using three methods: an income method; the sum of unamortised R & D expenditures; the firm’s reported intangible assets. Value-relevance tests use ordinary least squares regression and Vuong and Clarke tests.

First, the study finds that the discounted cash-flow valuation of pharmaceutical patents is value-relevant. Second, the value of pharmaceutical patents explains market value better than reported intangible assets but not R & D capital. However, the valuation of pharmaceutical patents is more consistent with the risks of R & D than the valuation of R & D capital which assumes recovery of R & D expenditure.

This is the first known study that values patents using an income method and compares those valuations with reported intangible assets and R & D capital valuation models.

The purpose of this paper is to consider whether regional currency integration in sub-Saharan Africa ameliorates global macroeconomic shocks by considering the impact of the 2008-2009 global financial crisis on economic growth. This suggests that Central Africa Franc Zone (CFAZ) eurocurrency union membership amplifies the effects of global business cycles in sub-Saharan Africa.

The authors estimate the parameters of a quantity theory model of economic growth within a Generalized Estimating Equation (GEE) Framework.

Parameter estimates from GEE specifications reveal that the contraction in credit during the financial crisis of 2008-2009 had larger adverse growth effects on sub-Saharan African countries who were members of the CFAZ eurocurrency union. The authors also find that sub-Saharan African countries who were members of the CFAZ eurocurrency union were more likely to experience a contraction in credit.

As far as the authors can discern, no existing empirical growth models use a GEE framework to estimate parameters of interest. The GEE parameter estimates are distribution-free, robust with respect to unknown forms of heteroskedasticity, and control for a wide variety of error structures that can induce bias in panel data parameter estimates.

Knowledge transfer is a crucial ingredient of employee innovation, yet affective work events may disrupt knowledge flow among employees. This study aims to investigate a previously overlooked, yet frequently occurring affective work experience, namely, that of being envied, and examine how perceptions of being envied may drive contrastive knowledge behaviors of sharing and hiding, which subsequently impact employee innovation. The study further examines how the zero-sum game beliefs of the envied individual may moderate these mechanisms.

This study builds on territorial and belongingness theories to delineate the contrastive motivations for knowledge hiding and knowledge sharing. This study tests a moderated mediation model through a multisource survey design involving 225 employees.

The results support the notion that perceptions of being envied are linked to both knowledge hiding and knowledge sharing; however, the indirect effect of being envied on innovation is observed only through knowledge sharing. The indirect positive link between perceptions of being envied and innovation via knowledge sharing is weakened when the envied employee holds high zero-sum game beliefs.

This study advances knowledge scholarship by identifying and testing the organizationally relevant but largely overlooked antecedent of being envied at work. The results provide useful insights to practitioners on how sharing or hiding knowledge serves as a strategic asset in response to being envied at work and how this may in turn impact employee innovation.