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The purpose of this paper is to investigate which cross-country characteristics influence the going-public decisions and how the cultural values of the countries affect initial public offering (IPO) firms’ profitability and risk of financial distress.

Using a sample of privately held and firms that went public on the European and Asian Stock Exchanges between 2007 and 2011, this paper applies probit model and ordinary least squares regression to examine which cross-country characteristics could affect the decision to go public and how cultural values affect the profitability and risk of IPO firms.[AQ1] In addition, to overcome multicollinearity concerns caused by the use of Global Leadership and Organizational Behavioural Effectiveness culture dimensions, this paper factor analyses the dimensions using principal component analysis.

The results are as follows. First, this paper finds that firms in tradition-oriented countries are less likely to go public, while firms in result-oriented countries are more likely to hold an IPO. Second, this paper finds that country characteristics (i.e. financial deepening and taxation) affect the going-public decision. Third, this paper documents that IPO firms in traditionally and result-oriented countries have positive profitability and less risk of financial distress.

This study is intended for all those European and Asian policymakers and managers who want to improve their knowledge about what different indicators can establish the decision of firms that going-public facing different stages of their lifecycle. Specifically, policymakers wishing to promote IPO-activity in their countries may find it useful to strengthen the set of formal-institutions both to reduce corporate-taxation and to reduce the uncertainty associated with first-time share issuance and investment in such initiatives. This study is also intended for managers of companies that are not yet publicly-traded on their national stock-markets to be helpful to their decision-making processes.

This paper aims to extend the growing literature on the effects of cross-country factors on economic decision-making in finance and particularly adds to research that investigates the influence of these factors on the IPO decision of European and Asian firms.

The purpose of this paper is to examine how national culture influences individuals’ subjective experience of tension when confronting paradoxical demands that arise during their day-to-day organizational experience. The paper further explores two types of paradoxical demands (task oriented and relational oriented) and two mediating mechanisms (tolerance for contradictions and harmony enhancement concerns) that exhibit contrary cultural effects.

Drawing from a sample of white-collar workers in China and the USA, the authors first inductively generated scenarios with task-oriented and relational-oriented paradoxical demands and then conducted three studies where participants rated the perceived tension from the scenarios. In Study 1, they examined cross-cultural differences in perceived tension and the mediating role of tolerance for contradictions. In Study 2, they primed Americans with proverbs that promoted tolerance for contradictions. In Study 3, they examined the indirect effects of harmony enhancement concerns in China in relational-oriented paradoxical demands.

The results found that for task-oriented paradoxical demands, Chinese participants were less likely than American participants to experience tension and the effects were mediated by a higher tolerance for contradictions. Americans exposed to proverbs that promoted tolerance for contradictions also experienced less tension. For relational-oriented paradoxical demands, on the other hand, the authors found no cross-cultural differences, as the indirect effects of a tolerance for contradictions were mitigated by negative indirect effects of greater harmony enhancement concerns.

This paper demonstrates that culture can influence the tension that individuals subjectively experience when they confront paradoxical conditions, suggesting that individuals learn implicitly how to cope with tensions associated with paradoxes from their broader cultural environment. However, the authors also found different cultural effects within different paradoxical conditions, suggesting that the knowledge that individuals acquire from their broader cultural environment is multifaceted.

This study is a reference for manufacturers who are promoting their product-service system (PSS) development. Currently, improvements in both digital customization and sustainability for various smart PSS categories have been considered rarely. This paper addresses this research gap by developing relevant models.

The development trends of customization-oriented PSS are described in a literature review. An in-depth multiple-case study methodology is adopted, and seven manufacturing companies are sampled. The goal is to identify digital customization measures that can be employed on representative smart PSS models and to explore how these models can create sustainable value.

This study provides valuable insights by uncovering a synthesis framework for achieving customization of the product/use/result-oriented smart PSSs, and the relevant representative smart functions are summarized. This identifies how digital customization capabilities can improve sustainability, including direct economic value for customers as well as additional social benefits and environmental improvements during customization.

Currently, the influence of digitalization on customized offerings and the relevant impact on sustainability development have not been fully addressed to date. This study provides comprehensive information with a reference value for digital customization transformation among the three main types of smart PSS.

On many occasions, organizational science research has been referred to as fragmented and disjointed, resulting in a literature that is, in the opinion of many, difficult to navigate and comprehend. One potential explanation is that scholars have failed to comprehend that organizations are complex and intricate systems. In order to move us past this morass, we recommend that researchers extend beyond traditional rational, mechanistic, and variable-centered approaches to research and integrate a more advantageous pattern-oriented approach within their research program. Pattern-oriented methods approximate real-life phenomena by adopting a holistic, integrative approach to research wherein individual- and organizational-systems are viewed as non-decomposable organized wholes. We argue that the pattern-oriented approach has the potential to overcome a number of breakdowns faced by alternate approaches, while offering a novel and more representative lens from which to view organizational- and HRM-related issues. The proposed incorporation of the pattern-oriented approach is framed within a review and evaluation of current approaches to organizational research and is supplemented with a discussion of methodological and theoretical implications as well as potential applications of the pattern-oriented approach.

This study develops a phase-oriented evaluation mechanism based on the public–private partnership (PPP) project process and provides a preliminary framework for the promotion of the phase-oriented evaluation of PPPs in China.

Through a literature review and survey interviews the success criteria for the implementation process of PPPs are documented. Process success criteria findings are used to populate the content of the phase-oriented evaluation. The result is then tested, revised and improved through follow-up expert interviews.

This paper identifies PPP project process success criteria. Using these criteria, a phase-oriented evaluation framework is developed. Moreover, in consultation with industry experts in the PPP field, eight evaluation aspects were determined: confirmation of project compliance and performance, confirmation of value for money, confirmation of financial affordability, trend analysis of annual performance appraisal, risk review and early warning, rebankability analysis, project externality analysis, benchmarking analysis of similar projects. These eight application aspects are analyzed in the light of the outcomes of the resulting phase-oriented evaluation framework.

The results of the research can only provide researchers and practitioners with generic insights regarding inputs into a phase-oriented evaluation of PPP projects. For any specific PPP project, the focus and priority of the evaluative content will vary.

A phase-oriented evaluation of PPP projects is put forward. This will allow project stakeholders to better track the progress of projects throughout what can be a lengthy implementation stage.

This study can provide governments and stakeholders with a new, theoretical understanding as to factors required of an effective phased evaluation of China's PPP projects. In that regard it will be significant value in PPP project policy and decision-making.

How does business model design play a role in enabling manufacturing firms’ services? This study aims to investigate the impact of two distinct types of business model design, namely, efficiency-centered business model design (EBMD) and novelty-centered business model design (NBMD), and their effects in balanced and imbalanced configurations, on two types of services: product- and customer-oriented services.

Using matched survey data of 390 top managers and objective performance data of 195 Chinese manufacturing firms, this study uses hierarchical regression, polynomial regression and response surface analysis to test the hypotheses.

The results show that while EBMD positively affects product-oriented services, NBMD positively affects customer-oriented services. Both types of services exert a significant influence on firm performance. Furthermore, the degree of product- and customer-oriented services increases with an increasing effort level with a balance between EBMD and NBMD. Asymmetrical, imbalanced configuration effects reveal that the degree of product-oriented services is higher when the EBMD effort exceeds the NBMD effort, and the degree of customer-oriented services is higher when the NBMD effort exceeds the EBMD effort.

This study enriches the understanding of designing business models to facilitate service growth in manufacturing firms, ultimately benefiting firm performance. In addition, exploring balanced and imbalanced configurations of EBMD and NBMD offers new insights into business model dual design research.

The purpose of this paper is to develop a measurement of creativity-oriented HRM systems that improve organizational creativity. This paper also aims to explore the mechanisms between them by investigating the mediating role of innovative culture and the moderating role of customer orientation.

The study uses a sample of 82 knowledge-intensive companies with 780 respondents consisting of 145 HR professionals, 512 core knowledge workers and 123 top managers in China. Exploratory factor analysis, confirmatory factor analysis and regression analysis are used to validate the measure of creativity-oriented HRM systems and test hypotheses.

This study finds that creativity-oriented HRM systems are composed of three dimensions, which are creative skill-enhancing practices, intrinsic motivation-enhancing practices and empowerment-enhancing practices. These practices significantly improve organizational creativity through innovative culture. Furthermore, customer orientation moderates the effect of innovative culture on organizational creativity in such a way that the positive relationship is stronger when customer orientation is high.

This study contributes to the strategic human resource management literature by developing and validating a measure of creativity-oriented HRM systems. Moreover, it also explores the mechanism between creativity-oriented HRM systems and organizational creativity based on a complementary perspective of innovativeness, which underlines the important mediating effect of innovative culture. More importantly, the authors propose the significance of absorbing knowledge and information from customers and put forward the moderating role that customer orientation plays, especially in an emerging country context such as China.

The purpose of this paper is to develop a technical product‐service systems (t‐PSS) for the BoX^® (Big OptiX) ultra precision free‐form grinding machine which has been designed and developed at Cranfield University. BoX is a new machine concept where advanced mass production and ultra precision technologies are combined.

This work utilises the machine as a demonstration case study to investigate t‐PSS for the machine tool providers. It develops three t‐PSS business models for the BoX machine: product‐, use‐ and result‐oriented.

The paper discusses the stakeholders' responsibilities, cash flows, application sectors, and consequently benefits and shortcomings of the three business approaches.

The enhancement of competition from low cost economies, vibrant market requirements and increasing customer demands cannot be addressed merely by the latest achievements in technology. As a response to this, the modern manufacturing industry is shifting its orientation towards t‐PSS. t‐PSS is an integrated product and service offering that delivers value in use.

The novelty of this paper lies in identifying and analysing the key implications of t‐PSS on machine tool industry using the BoX machine as an example case study.

The ability to attract and retain volunteers is crucial for not-for-profit organizations, and consequently, the need to understand and manage volunteers’ engagement is paramount. The purpose of this paper is to investigate the role of five volunteer engagement dimensions (cognitive, affective, behavioral, social and spiritual engagement) on perceived value-in-context, and its subsequent role for volunteer retention. Thus, providing for the first time an understanding of how unique types of value are determined through different facets of volunteer engagement.

To establish the nature and consequences of volunteer engagement, the authors collaborated with an Australian not-for-profit service organization. Using a survey method, the authors studied the organization’s volunteer workforce resulting in 464 usable responses. To capture volunteers’ degree of spiritual engagement, this paper introduces a rigorously developed unidimensional measure.

The results demonstrate the importance of the five engagement dimensions on volunteers’ perceived value-in-context, while highlighting significant effect differences including some counterintuitive consequences. The authors also establish the role of spiritual engagement and demonstrate the impact of value-in-context for volunteer retention.

This research explores the volunteer engagement-retention chain, by empirically studying the role of value-in-context. The authors provide first evidence for the relationship between volunteer engagement and value-in-context, examining the independent yet relative effects of various facets of volunteer engagement. In doing so, the authors offer new insight into the dimensionality of the volunteer engagement construct, broadening its conceptualization to include spiritual engagement as a core constituent. The authors further demonstrate the impact of value-in-context on volunteer retention, helping organizations to better make sense of meaningful volunteer experiences with long-lasting impacts and mutual benefits.

This paper aims to examine the relationships between macro-, meso- and micro-level contextual factors that enable or inhibit the contribution of product service systems (PSS) to circularity. It is informed by the natural resource-based view (NRBV) and the multi-level perspective as theoretical lenses.

A theory elaboration approach is used through three in-depth case studies of UK and German manufacturers. Case studies provide use- and result-oriented PSS for personal computers, power tools and wind turbines. Multiple sources of evidence, including 20 semi-structured interviews, company documents and quantitative data, are triangulated to improve the validity of the results.

Empirical evidence for relationships between macro-, meso- and micro-level contextual factors show significant barriers to the extending and cycling of resource loops, primarily through maintenance, repairs and refurbishment. A firm’s environmental awareness has a determining role in the contribution of PSS to circularity. The evidence from two use-oriented PSS reveals different circularity maturity levels.

This research makes three key contributions. Firstly, it elaborates on NRBV by showing that a firm’s environmental awareness determines product stewardship. The type of product stewardship practices depends on the enabling and inhibiting effects of macro- and meso-level factors. Secondly, it shows that use-oriented PSS have different circularity profiles and proposes three circularity maturity levels. Finally, it provides an empirically validated framework of macro-, meso- and micro-level enablers and barriers and how they interact to enable or inhibit circularity in PSS.