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There is considerable literature on the firm's market servicing mode (MSM) when it enters the foreign country. However, scant research has been conducted to examine how business-level strategies (BLSs) affect internationalised firms to choose a multiple rather than single post-entry MSM. The purpose of this paper is to test the effect of three BLSs on firms’ selection of multiple MSMs.

Survey responses of 165 internationalised Greek small- and medium-sized enterprises (SMEs) were collected capturing the types of BLSs they used during 2008-2010 and their number of MSMs in a particular foreign country in 2011. The data were analysed using logistic regression.

The findings suggest that firms that implement collaborative and differentiation strategies are more likely to use multiple rather than single MSMs. Firms that implement penetration pricing strategies are more likely to use single MSMs, although this effect is marginally significant. Overall, the validity of the strategic choice model regarding the choice of multiple MSMs is confirmed.

Despite its importance, the effect of BLSs influencing MSMs has not seemingly been investigated, especially in the context of internationalised SMEs as opposed to large multinational enterprises; and, for post-entry as opposed to initial modes. The findings underline the BLS significance on internationalised SME adoption of multiple vs single MSMs in the host country.

The purpose of this paper is to exemplify, by means of a Belgian case study, the transition of multiple certification schemes currently employed in the food sector towards a single retail driven higher end spot market.

Data were obtained by means of focus group sessions, a survey, in depth interviews and a literature review. The theoretical framework builds upon institutional economics, the competitive forces as identified by Porter, and the theory of system innovations. The article illustrates the current institutional setting of certification, the drive towards a premium spot market and the consequences for the participants in the schemes.

This paper illustrates that a shift towards a premium spot market is indeed apparent. The paper furthermore argues that the dynamics of certification schemes are characterized by processes of contraction (mergers) followed by relaxation (diversification). The paper concludes that the retail sector is the primary beneficiary of the shift towards a single premium spot market. For the remainder of the food chain members, it is less clear whether the overall effect is positive.

The question of multiple certification schemes merging into a single retail driven scheme is approached from different stakeholders' point of views. Furthermore, the different factors steering this transition are elucidated and empirically confirmed. Both elements make this paper a valuable contribution to the existing literature on certification and coordination mechanisms in the food chain.

Many firms engage in co-opetitive projects during which they have simultaneously competitive and collaborative relationships with many rivals in a complex network. A co-opetitive network offers them access to a large volume of resources and knowledge, for example, to support new markets and/or territories. So, does the network grow with the scope of the co-opetition project? The paper aims to discuss this issue.

An empirical study of 106 French boating intermediate-sized enterprises (ETIs) and small and medium enterprises provides a descriptive and explanatory analysis of co-opetitive networks.

The results support this definition of a complex co-opetitive network only when the objectives of a firm are part of the geographical expansion of its activities. In contrast, these relations remain simple (dyadic) when a firm favours a strategy of diversifying its activities while maintaining its unique local geographical market.

First, the work is based on a quantitative methodology, so is static. It would be interesting to analyze the process of the building of co-opetitive relationships and opportunism between rival firms, for example, through a qualitative study. Second, this work focusses on boating companies in France. It may be appropriate to consider the sanctions placed on the opportunism of foreign firms in co-opetition. Third, future work could increase understanding, not only of the nature of reprisals inflicted on individualistic co-opetitors, but also on the structure, objectives and results of these reprisals.

The study deepens our knowledge of the definition, composition and determinants of co-opetitive networks.

The single market of 1992 can be likened to a Fortress Europe and those still outside its limits will be faced with the dual problem of how they will derive the greatest benefit therefrom and how the actions of those already within will affect them. For those who elect to join, membership will call for dilution of national preserves, and assimilation of others′ cultures and languages. From a marketing point of view, logistics strategy in particular will have to be more adaptable, entailing revolutionary changes in costing policies. However, perhaps the most significant impact will come from the Soviet Union and Central/Eastern Europe, nations revitalised after recent political upheavals. Finally, marketing managers, although still locally based, will have to think globally, not even simply European, and will have to be substantially rather than superficially conversant with the diversity of culture and language, backed up by an enhanced professional awareness of technological systems progress, so vital in the highly competitive business arena of the future.

The advent of the Single European Market will have a significant effect on the competitive position in EC life insurance markets. This arises not only from enhanced freedom of establishment and the freedom of services to conduct cross‐frontier trade in insurance, but also from the deregulation of insurance markets in some Community countries which allow links between banks and insurers. The development of a Single Market in life insurance is described and the opportunities and threats for insurers are examined. The alternative strategies available to insurers are evaluated, with particular attention paid to costs and benefits of bank/insurance links.

Provides an interesting illustration of the changing relationships between the European single market, on the one hand, and globalization on the other. States the development of mobile communications in Europe reflects an overall joint objective to maintain Europe’s position in the international division of labour.

Most of the published literature about the effects of 1992 relate to consumer goods and services, to the neglect of the very large business‐to‐business sector. Success in the Single European Market will depend on a good understanding of: the differences and similarities between marketing to businesses and to domestic consumers; the relatively complex structure of each customer′s decision‐making unit; the characteristic ways of doing business in each EC country (which will continue to differ long after 1992); and the choice of communication channels through which their decisions can be influenced. Implementing an effective marketing plan for Europe will for most companies demand changes in management structure, so as to profit from the new opportunities for integrated marketing communications campaigns.

Informed traders may prefer the options market to the stock market for reasons including the leverage effect, transaction costs, restrictions on short sale. Many studies try to predict future returns of stocks using informed traders' behavior in the options market. In this study, we examine whether the trading volume ratios of single stock options have the predictive power for future returns of the underlying stock. By analyzing the stock price responses to the “preliminary announcement of performance” of 36 underlying stocks on the Korea Exchange from November 2014 to March 2021 and the trading volume of options written on those stocks, we investigate the relation between the option ratios, which are the call option volume to put option volume ratio (C/P ratio) and the option volume to stock volume ratio (O/S ratio), and the future returns of the underlying stock. We also examine which ratio is better in predicting the future returns. The authors found that both option ratios showed the statistically significant predictability about future returns of the underlying stock and that the return predictability of the O/S ratio is more robust than that of the C/P ratio. This study shows that indicators generated in the options market can be used to predict future underlying stock returns. Further, the findings of this study contributed to a dearth of literature pertaining to single stock options. The results suggest that the single stock options market is efficient and influences the price discovery in the stock market.

The transmission of monetary policy rates to lending rates is viewed as a crucial path of monetary policy. As an integral part of the financial system and the recent financial crisis, securitized assets have the potential to affect the interest rate pass-through process and monetary policy effectiveness. This paper aims to investigate the influence of securitization on the transmission of policy rate changes to lending rates and how rate transmission has changed since the recent financial crisis. Emphasis is placed on differences among the mortgage, consumer credit and business loan securitization markets and between agency and private-label securitization transactions.

The empirical framework is an error-correction model augmented to directly measure the influence of securitization. Monetary policy effectiveness is measured by the size and speed of transmitted policy rate changes to lending rates. An efficiency measure of relative adjustment accounts for differences in the size of long-run responses across loan markets and changes in efficiency from securitization within loan markets.

The size and speed of interest rate pass-through tend to increase with securitization. Liquidity, capital relief and funding from securitization help to make lending rates more responsive. Increases in pass-through with securitization are less in the consumer credit and business loan markets after the recent financial crisis relative to before the crisis. In contrast, mortgage markets tend to have larger pass-through after the financial crisis. Differences in rate transmission after the recent financial crisis point to the role on nonbanks in consumer credit and business loans and asset purchase programs of the Federal Reserve in mortgage markets. Securitization tends to make the adjustment process more efficient, and gains in efficiency from securitization are larger after the financial crisis.

A key contribution of the study differentiates securitization across markets and types to determine the effects on the interest rate pass-through process. The results show that increases in the efficiency of the adjustment process from securitization tend to be greater in mortgage markets and for all private-label securitized assets. These findings have implications for proposed government-sponsored entity (GSE) reform to reduce the role of GSEs in the housing market, promote private-label mortgage credit and strengthen securitization deals.

Single-family houses are a common form of housing in Europe. Most were built in the context of the suburbanization after World War II and are now facing challenges arising from generational changes as well as increasing living and energy standards. According to the hypothesis of this paper, in several EU regions, single-family houses may face future challenges arising from oversupply and lack of adaptation to current demand. To examine this, the paper analyses the present situation and discusses the prognosis for the challenges described above regarding the three neighbouring north-western European countries Belgium, Germany, and the Netherlands, based on available data and a review of country-specific characteristics of housing markets as well as national policies. Despite an impending mismatch between demand and supply, planning policies still support the emergence of new single-family houses. The comparison of Belgium, Germany, and the Netherlands shows the growing polarization between shrinking and growing regions and central and peripheral sites apparent at different stages in the three countries. While a high rate of vacancies is already registered for some regions in Germany, in the Netherlands this phenomenon can only be seen near the borders and in villages within the Randstad conurbation. In Belgium also, this phenomenon is not yet widespread, but in some suburban neighbourhoods dating from the 1950's and 1960's more and more single-family houses are becoming more difficult to sell, indicating an emerging mismatch between supply and demand. This article proposes some instruments which enable municipalities to intervene in single family housing neighbourhoods which are largely dominated by private ownership. These instruments are not yet widely established in single-family housing neighbourhoods but that may become important in the future.