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The purpose of this paper is to identify the shareholder value creation measure best suited to express shareholder value creation for a particular industry.

The analysis was performed on 192 companies listed on the Johannesburg Stock Exchange, classified into nine different samples or industries. Five shareholder value creation measures were examined, namely market value added (MVA), a market-adjusted stock return, the market-to-book ratio, Tobin’s Q ratio, and the return on capital employed divided by the cost of equity.

An analysis of the nine categories of firms led to the identification of different measures that are suited to express value creation. Stock returns did not provide an appropriate value measure. Instead, depending on the specific industry, Tobin’s Q ratio, MVA, and the market-to-book ratio should be used to measure and express value creation.

For management, the value drivers identified for each industry present a clear indication of industry-specific variables upon which they can focus in operating activities to most efficiently increase shareholder value.

Unlike previous studies that use only one or two different shareholder value creation measures as dependent variables, this study uses five different value creation measures. Another contribution of this study is the compilation of a unique set of value drivers that explain shareholder value creation separately for each of the nine different categories of firms.

Strategy valuation is not merely a measurement technique that is applied after the strategy formulation process is completed. Its real power lies in the way it can be integrated throughout the strategy formulation effort.

The Internet of Things (IoT), as one of the new digital technologies, has created wide applications in various industries, and one of the most influential industries of this technology is the transportation industry. By integrating the IoT with the transportation industry, there will be dramatic changes in the industry, and it will provide many entrepreneurial opportunities for entrepreneurs to develop new businesses. Opportunity identification is at the heart of the entrepreneurial process, and entrepreneurs identify innovative goods or services to enter a new market by identifying, evaluating, and exploiting opportunities. Despite the desire of transportation managers to invest in the IoT and the increase in research in this area, limited research has focused on IoT-based entrepreneurial opportunities in the transportation industry. Therefore, the present study aims to identify IoT-based entrepreneurial opportunities in the transportation industry and examine their importance.

To achieve the research objective, the authors applied a mixed approach. First, adapting the lens of the industry value chain theory, a comprehensive literature review, besides a qualitative approach including semi-structured interviews with experts and thematic analysis, was conducted to identify the entrepreneurial opportunities. The identified opportunities were confirmed in the second stage using a quantitative survey method, including the Student t-test and factor analysis. Finally, the identified opportunities were weighted and ranked using the best worst method (BWM).

Entrepreneurial opportunities are classified into five main categories, including “smart vehicles”, “business partners/smart transportation supply side”, “supporting services”, “infrastructures”, and “smart transport management and control”. The infrastructures group of opportunities ranked the highest amongst the identified groups.

This study adds to the digital entrepreneurship opportunity recognition literature by addressing opportunities in a smart industry propelled by digital technologies, including developing new products or new applications of the available technologies. Additionally, inspired by the industry value chain theory, this article develops a framework including various digital entrepreneurial opportunity networks which are necessary to add value to any industry and, thus, could be applied by entrepreneurs to recognize opportunities for new intermediaries to enter other digital-based industries. Finally, the present study identifies the IoT-based entrepreneurial opportunities in the smart transportation industry and prioritizes them, providing practical insights regarding the creation of entrepreneurial ecosystems in the field of smart transportation for entrepreneurs and policymakers.

This paper seeks to shed some light on value‐creation in new product development (NPD) projects within the context of industry convergence and to explore alternative types of projects characterised by different buyer‐seller relationships.

There has been much research on value‐creation in general, but limited emphasis on value‐creation in NPD projects addressing new industry segments emerging from industry convergence (for example, the segment of nuctraceuticals and functional foods (NFF) products that is positioned between the food and the pharmaceutical industries). Based on a multi‐case study approach, this paper pursues an exploratory research strategy and investigates 54 NPD projects drawn from a Quebec (Canada) NFF foods cluster.

In the context of convergence a new value chain is emerging between two formerly separated sectors. Value‐creation networks spread across industries and reinforce trends of convergence. Firms face competence gaps in NPD and seek to close these by choosing alternative forms of collaboration. Different types of NPD projects involve alternative forms of buyer‐seller relationships and their approach of value‐creation is analysed.

A typology of different approaches to NPD in converging value chains is presented along with type‐specific implications for value‐creation for the required buyer‐seller relationship.

This paper provides a unique insight into value‐creation in NPD in the emerging NFF sector, in particular, and for converging industries, in general.

Decision-making in the equity market has been a challenging task for investors belonging to all age groups. This study aims to find linkages between the decision-making techniques in the equity market and the biological age of the investor.

This is an exploratory study and by surveying a sample of 436 secondary equity investors residing in the Chennai region of India, the study measured the decision-making techniques. Using the ANOVA test, the decision-making technique mostly used by investors belonging to an age category was determined. Further, the linkages were investigated in isolation for the male and female investors. By using regression analysis, a model was developed to predict the actual equity return. The financial characteristics of the various age groups were also analyzed using cross-tabulation.

The results of the study show that the age of the investor plays an important role in the choice of decision-making technique used. The younger investors, who earn the lowest returns were less likely to use industry analysis but more likely to use technical analysis and advocate’s recommendation. Specifically, the younger male investors were less likely to use industry analysis and more likely to use the advocate’s recommendation. The younger female investors were also less likely to use industry analysis. The middle-aged respondents, who earn the highest return were less likely to use technical analysis and advocate’s recommendation owing to lower means. Specifically, the middle-aged male investors were less likely to use the advocate’s recommendation and technical analysis. Then, middle-aged female investors were more likely to use industry analysis.

The findings would be beneficial for financial advisors and wealth managers to suggest age-appropriate strategies for the various investor groups. This age-based profiling of investors would make investors aware of their decision-making techniques and encourage them to make more rational decisions.

This paper aims to construct a process model of business founding in the biotech industry.

An inductive method is used, and five case studies analyzed. Data are coded by applying Gioia’s method.

Aspirant entrepreneurs conduct resource analysis and industry analysis to formulate research and development targets. They perform transactions and networks because they require resources, and they then deploy and coordinate these resources. Such coordination generates activities with social and financial impacts.

The results are specific to the biotech industry. A future study could examine business founding processes in other industries (e.g. entertainment, fashion, public utilities and sport). Additionally, the paper argues that during the founding process entrepreneurs show little concern for knowledge-sharing risk, as they want to collaborate to implement their ideas. Quantitative papers could test the consequences of such behavior.

The process model provides insights into aspirant founders on how to start a business in the biotech industry.

The paper shows: the differences between the founding process in the biotech industry versus other industries; and the shape of the Bower–Burgelman model in the context of biotech business founding. The paper delineates how private companies discover competencies in the public sector; a model of technology transfer from public to private sector; entrepreneurs’ absence of risk perceptions regarding knowledge-sharing during founding; and how conferences can serve as vehicles for benchmarking in networking.

This paper seeks to investigate and report on the management accounting practices in the British food and drinks industry.

The data are generated by a large‐scale postal questionnaire which was informed by preliminary interviews. Further interviews were carried out to aid interpretation of the responses. Descriptive statistics on the importance and frequency of use of individual practices provide the basis for discussion.

Direct costing is widely practised and important, by contrast with activity‐based costing and full absorption costing. Despite the limitations of conventional budgets, they remain a central management accounting “pillar” and are frequently used in “what if?” analyses. The balanced scorecard and other non‐financial performance measures are perceived to be important but never or rarely used by 40 per cent of companies. Product profitability analyses are frequently applied and, surprisingly, the profitability of supplying individual customers is frequently calculated by over 50 per cent of the population. Respondents were sceptical about sophisticated DCF investment appraisals.

Traditional management accounting is “alive and well” but there are indications of likely increased use of: information concerning the cost of quality; non‐financial measures relating to employees; and analyses of competitors' strengths and weaknesses. There is evidence of a gap between current textbooks and actual practices.

The survey provides a unique detailed examination of actual management accounting practices and an indication of future trends.

Value management (VM) was introduced in China during 1978, when the reform and open door policy started. After a surge of VM applications that emerged in the late 1980s, the development of VM has declined sharply in the recent years in China. Although some successful applications of VM in China's construction industry have been observed, many actions should be taken to exert its full potential to improve value for money for clients. Aims to draw a holistic picture of the current VM practices and provide recommendations for its future development in China's construction industry. Provides a comparison between China's VM approach and the international mainstream to highlight the major differences.

This paper aims to identify the main themes shared in online reviews by airline travellers, as well as which of these themes were linked with higher and lower value for money ratings.

The research used mixed content analyses (i.e. quantitative and qualitative) to examine 1,200 reviews of six airline companies shared by airline travellers in a social media platform.

The analyses revealed nine themes in descriptions of airline travel experiences. These are the core services during “flights”, “airport” operations, crew and ground “staff”, ticket “classes”, “seats”, inflight “services”, “entertainment”, overall experiences of “airlines” and post-purchase recommendations of with which companies to “fly”. Low value for money ratings are linked with the “airport” and “flights” themes.

The results offer useful insights into airline travellers’ overall experiences based on social media information and facilitate the identification of the main themes linked with different value for money ratings.

The purpose of this paper is to present how the construct of relationship value (RV) has the potential to help suppliers understand how to create superior value in their customer relationships and ultimately improve their competitiveness. Nowhere is this truer than in the Canadian wood products industry, where sales to its most important market, the USA, have recently been dwindling. The paper seeks to present how RV was adapted in this research context and extended over elements of scope, range of potential applications, scale of measurement, and computational techniques.

A multiple‐case study was undertaken and consisted of the evaluation of 58 customer relationships for three wood products manufacturers.

Findings highlight the necessary distinction between “value for” and “value of” customers when measuring relationship value from a supply perspective. Based on the value and orientation of exchange, a new segmentation of customer relationships emerges which differentiates “questionable”, “supportive”, “promising”, and “strategic” relationships.

The case study will serve in the development of value‐driven relationship management approaches, which are likely to become a major source of competitive advantage, not only in the wood products industry, but in business in general.