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The effects of ownership concentration on firm performance usually considers two conflicting perspectives: monitoring and expropriation hypotheses. Past studies have produced mix findings. This study aims to shed light on this relationship by focusing on a specific measure of firm performance, firm growth. The moderating effect of industry growth in the aforementioned relationship is also considered, which advances knowledge on the role of moderators.

This study resorts to data from a sample of 21,476 Portuguese firms, which is examined using hierarchical linear modelling. This approach is adequate because the data has a hierarchical structure: the firms are nested within industries.

The results show that equity ownership concentration has a positive effect on firms’ growth and that industry growth amplifies this relationship. Ownership concentration can spur effective monitoring, thereby alleviating principal–agent conflicts of interest and speeding up decision-making, enabling timely competitive actions that promote growth.

The research conceives ownership structure in two groups. However, equity ownership concentration often acquires more complex shapes. In addition, the data used is from a single country.

The results show that firms pursuing growing strategies and operating in growing industries benefit from equity concentration.

Different from past studies, this study focuses on firm growth performance and considers the moderating effect of industry growth.

The purpose of this paper is to explore the applicability of the failure mode and effects analysis (FMEA) as an effective tool for decreasing failure risk in the early phase of the new product development (NPD), which adds to existing literature on the application of FMEA in NPD.

Through the application of action research (AR) methodology, it was possible to develop a case study examining the use of FMEA to decrease NPD risk in an early phase of NPD execution.

The importance and immediate gains of identifying NPD failures support FMEA's usefulness for NPD risk decrease. Moreover, its user-friendliness, timeliness and cost advantages facilitate the introduction of FMEA in the early phase of NPD execution.

FMEA is a well-known method used in manufacturing companies to identify and correct failures in products, processes and systems. This article explores the lack of practice-oriented evidence on the use of FMEA in the early phase of NPD execution and provides support to its applicability and effectiveness.

The purpose of this article is the determination of the temperature fields in a weld region has always been an obstacle to the improvement of welding processes. As an alternative, the use of inverse problems to determine the heat flux during the welding process allows an analysis of these processes.

This paper studies an alternative for the thermal analysis of the tungsten inert gas welding process on a 6,060 T5 aluminum alloy. For this purpose, a C++ code was developed, based on a transient three-dimensional heat transfer model. To estimate the amount of heat delivered to the plate, the specification function technique was used. Lab experiments were carried out to validate the methodology. A different experimental methodology is proposed to estimate the emissivity (radiation coefficient).

The maximum difference between experimental and numerical temperatures is lower than 5 per cent. The determined emissivity value for the aluminum 6,060 T5 presented a good agreement with literature values. The thermal fields were analyzed as function of the positive polarity. The specification function method proved to be an adequate tool for heat input estimation in welding analysis.

The proposed methodology proves to be a cheaper way to estimate the heat flux on the sample. The estimated power curves for the welding process are presented. The methodology to calculate the emissivity (radiation coefficient) was validated.

The existing literature suggests that multinational corporations (MNCs) divest subsidiary units whenever they cease to enjoy the advantages of ownership, location or internalization. However, not all MNCs divest under these conditions. This paper aims to explore the factors that contributed to the survival of a particular subsidiary and prevented it from being divested.

The analysis focuses on an individual subsidiary of a large foreign MNC in the electronics industry, which divested other subsidiaries from Portugal. Data were collected using semi-structured interviews.

The subsidiary’s diverse customer base, specificity and high level of efficiency, the local advantages, the existing governmental agreements and the parent MNC’s previous unsuccessful relocation experiences seem to have contributed to the survival of the subsidiary.

Although the results of the case study are not generalizable to the entire population of firms, the featured case study is a rare survival success story in the Portuguese electronics industry.

The proposed framework may offer public authorities measures to create conditions to encourage firms to retain their investment in a particular site. For corporate strategists, new perspectives on subsidiary survival are provided.

This paper is one of the few qualitative studies in the field of subsidiary survival. The results offer an integrative framework on which factors contribute to the survival of a subsidiary located on a comparatively unfavorable labor cost location and support the role of the organizational learning and of previous failed relocation experiences and relocation barriers when a parent MNC decides whether to retain a unit.

The purpose of this paper is to identify and compare different groups of customers’ perceptions (i.e. stayers, switchers, and heavy switchers) of several loyalty antecedents such as satisfaction, trust, service quality, switching costs, marketing communication, and loyalty itself.

This study was carried out based on data collected through a questionnaire from 353 telecommunication services users in Portugal and using confirmatory factor analysis (CFA) and analysis of variance.

The three types of customers – stayers, switchers, and heavy switchers – clearly differ among themselves. Stayers differ from switchers regarding their communication efforts perceptions, and from heavy switchers in their loyalty, satisfaction, and trust levels. Switchers differ from heavy switchers in their loyalty levels.

Future research should examine differences between customers taking into account the impact of their personality, price sensitiveness, and orientation toward the adoption of new technologies.

As there are several differences among stayers, switchers, and heavy switchers, companies should not only recognize the heterogeneity of their customer base, but also target their marketing efforts accordingly.

This study is one of the few identifying groups of customers perception’s toward service providers. It also complements previous research by splitting them intro three different groups and by analyzing their behaviors across a set of previously unexamined marketing variables.

The purpose of this paper is to examine the relationship between product innovation and network and their export performance, particularly in trade fair context. Moreover, this paper conducts a comparative study among services/industrial small and medium-sized enterprises (SMEs) and considers the home-country context. Innovation and internationalization are stagnant themes in the recent literature on trade fairs, so they require to be renewed.

The empirical study includes a survey with 341 SMEs’ respondents separated into both industrial/producer and service/other. A conceptual model was developed and examined from three different perspectives: Model A encompasses all surveyed SMEs, Model B includes only industrial/producer SMEs and Model C comprises service/other SMEs. Data analysis happened in two steps. The first step included the structural equation model (SEM) and the assessment of hypotheses (from three different perspectives). Thus, it was possible to make a comparative analysis between the models. In the second step, the ordered logit model (OLM) is used to study relationships between control variables and the criteria variable export performance.

The SEM’s results confirm a conceptual model about a dynamic trajectory that SMEs, mainly industrial/producer, can take advantage of: innovate to networking and networking to export. The results allowed to verify when comparing services/industrial SMEs that the tangibility which characterizes the innovation of industrial SMEs' products contributed significantly to the performance of business networks and exports. The study also reveals, through the OLM, two catalysts for the success of the SME’s export performance: export experience and continued participation in trade fairs. The OLM results also reveal that the size of the companies is not relevant, so trade fairs are marketing tools accessible to any company, regardless of their size. Finally, the study considered home-country context of the surveyed SMEs, which allowed additional interpretations to be drawn.

The study does not reflect the individual's personality in his network capacity and the export performance was measured based on the level of satisfaction and not on real sales results. However, the study provides relevant practical implications and can support future studies.

The study offers important implications for SME. The results reveal that presenting product innovations at trade fairs is a useful tool for SMEs to create networks, which facilitates their export performance, especially for industrial SMEs residing in small economies such as Portugal. This study is also relevant for business associations of industrial SMEs and/or public or semi-public SME promotion agencies.

This paper contributes to the literature on trade fairs, suggesting a new innovation, networking, export (INE) framework to reflect on the participation in international trade fairs. So, this research especially combines product INE performance in a particular context – international trade fairs for SME. It also considers the home-country context of the SMEs, which adds depth to the study. Finally, the comparative study also provides insightful implications for industrial SMEs on how to improve the export performance from trade fairs by leveraging innovation and networking.

The purpose of this paper is to review the existing research on industrial divestment in order to identify the reasons for it, the process whereby it is achieved, and the outcomes of industrial sell-offs and closures. The study reports the main findings that have gained acceptance in the literature, gaps in the research and potential directions for future research.

A three stage systematic literature review protocol was used to conduct this review. The results are organized according to an “Antecedents – Process – Outcomes” framework.

The traditional accounts of industrial divestment have been framed in terms of firms’ weak performance and over-diversification as antecedents to divestment, leading to corporate governance issues. However, the list of antecedents of industrial divestment is more extensive. There is no consensus over the impact of some factors on divestments, as is the case of firm and unit size. The results are not conclusive as to whether firm performance improves after divesting.

Future research should analyze the relationship between the antecedents of investment and divestment. The divestment process is not well studied and more studies that engage in theory building are needed, namely, on primary data and examining the short-term and long-term impacts of divestment on performance.

This review offers a comprehensive synthesis of the antecedents, the process and outcomes of divestment through sell-offs and closures. Factors such as environmental conditions and the entry mode strategy are important in determining the divestment of subsidiaries. Divestments may be positively or negatively regarded by shareholders, depending on the context of the firm. Promoting managerial changes facilitates divestment.

This paper synthesizes knowledge of the main reasons as to why firms completely dispose of their assets, contributing to this under-researched field.

Recent years witnessed an exponential growth of the Portuguese real estate market. This growth has generated the need to implement effective management control tools to allow companies to improve their planning and monitoring of activities. Drawing on the agency and goal-setting theories, this paper explores the impact of companies' participative budgeting processes on employee performance in the real estate industry.

For this purpose, a questionnaire was developed and a sample of 116 employees that participate in the budgeting process of real estate organizations collected, with data analyzed using structural equation modelling.

The results show that participation in the budgeting process has an impact on employees' performance through budget goal commitment, trust and job satisfaction. However, no statistical support was found for the role of budgetary slack in this process.

This study was conducted in a single industry and is based on self-reported measures of employees that participate in the budgeting process of their organizations.

The findings highlight the need for real estate organizations to involve their staff in the elaboration of budgets, contributing to a higher level of commitment to established goals, job satisfaction, trust and performance. Real estate organizations should provide adequate working conditions, foster their employees' autonomy and recognize their work.

The findings encourage real estate companies to extend the participation in the budget process to employees and, ultimately, to mitigate the probability of budget failure.

The purpose of this paper is to examine the influence of entrepreneurial orientation on the network and exhibitor’s performance. The entrepreneurial orientation is seen as a highly competitive factor for the company, which can foster its trade fair business.

A survey-based quantitative approach was adopted, including a questionnaire (n = 362) applied to companies participating in trade fairs. To arrive at results, the study developed structural equations modeling techniques, using SPSS 24 and AMOS 20 software.

The study demonstrates positive impacts of entrepreneurial orientation on network capability and consequent exhibitor’s non-sales performance and exhibitor’s sales performance. A conceptual model is presented.

The study was carried out mainly on Portuguese companies, restricting its generalization. In addition, the exhibitor’s performance was measured based on the exhibitors’ level of satisfaction and not on real sales results.

The study offers a process which the results highlight such as innovativeness, proactivity, risk-taking, competitiveness and autonomy (dimensions of entrepreneurial orientation) as a mix of important ingredients for the exhibitor’s networking. The networking promotes intangible results (non-sales performance) that can generate sales (sales performance).

The study is the first research to apply entrepreneurial orientation in the trade fair context and it also presents a relationship between non-sales performance and sales performance.

In a society that encourages consumption, attributes such as exclusivity and social recognition are important in what is intended to be restricted to a certain exclusive segment. Luxury is something that is more desirable than necessary. This study develops and tests a model that analyses the brand loyalty–risk relationship in the luxury watch market.

To test the proposed research model, a sample of 306 international consumers and enthusiasts of luxury brand watches was collected. The data were analysed using structural equation modelling.

The results show that perceived quality has a negative indirect influence on brand risk and brand trust has a strong direct negative effect on brand risk. However, the findings also show that in the luxury market, the greater the affection for the brand, the greater the risk perceived by consumers.

The study was conducted in a single market, luxury watches and the sample includes both enthusiasts and consumers of the luxury brands.

Managers should be aware of the double-edged role of brand affect on brand risk. The quality of a brand and the trust in its promise decrease the risk to the consumer.

This pioneering study is one of the first to approach an underexplored topic as is the case of the risk associated with a brand in the context of the luxury goods market. Moreover, it relies on an international sample composed of consumers from several countries.