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Article
Publication date: 1 July 2004

Bostjan Antoncic and Robert D. Hisrich

Despite the recognized importance of entrepreneurship for organizational wealth creation, research has devoted minimal attention to investigating this area. This study…

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Abstract

Despite the recognized importance of entrepreneurship for organizational wealth creation, research has devoted minimal attention to investigating this area. This study contributes to a better understanding of the relationship between corporate entrepreneurship and wealth creation by developing and testing a normative model, which clarifies the nature of the influences of corporate entrepreneurship and its environmental and organizational antecedents on organizational performance. The findings of structural equation modeling, based on mail survey data from 477 Slovenian firms, demonstrate that corporate entrepreneurship and some its contingencies make a difference in organizational wealth creation, growth and profitability.

Details

Journal of Management Development, vol. 23 no. 6
Type: Research Article
ISSN: 0262-1711

Keywords

Article
Publication date: 18 September 2019

Ousmanou Alim

The purpose of this paper is to examine the impact of employee ownership (EO) on the creation of shareholders’ wealth in companies in Cameroon.

Abstract

Purpose

The purpose of this paper is to examine the impact of employee ownership (EO) on the creation of shareholders’ wealth in companies in Cameroon.

Design/methodology/approach

The methodological approach adopted is hypothetical-deductive. The sample includes 89 companies, of which 31 practiced EO policy for at least ten years. Information used come from secondary data collected over the period 2008–2013 at the National Statistical Institute of Cameroon. These data were analyzed through a time series cross-sectional regression, corrected for any latent heteroskedasticity and serial auto-correlation.

Findings

The paper finds that the average level for participation of employee in the capital is 7.4 percent and the average wealth creation of shareholders is 26 percent of invested equity. However, this average rate of creation of shareholders’ wealth is higher in companies with EO (45 percent) than in conventional firms (16 percent). For the results of model estimates, the percentage of capital held by employees affect positively and significantly at 1 percent the return on equity. This study concludes that EO is a lever for creation of shareholders’ wealth in companies in Cameroon.

Practical implications

Findings of this research can serve as framework for reflection by politicians, managers and business leaders as they will have a strategic management tool capable of improving the social climate in companies and also promoting shareholders’ wealth creation. It is a formula that would allow them combining economic and social realities of organizations.

Originality/value

No similar review has been done before in Africa in general and Cameroon in particular. Study was carried out in a context where financial market is not developed.

Details

Journal of Participation and Employee Ownership, vol. 2 no. 2
Type: Research Article
ISSN: 2514-7641

Keywords

Article
Publication date: 1 April 1996

Julio O. De Castro, G. Dale Meyer, Kelly C. Strong and Nikolaus Uhlenbruck

The privatization of State Owned Enterprises (SOE) has significant implications for SOE stakeholders. However, the effects on stakeholders will vary depending on…

Abstract

The privatization of State Owned Enterprises (SOE) has significant implications for SOE stakeholders. However, the effects on stakeholders will vary depending on characteristics of the privatization process and the structure of the SOE. This paper identifies privatization process characteristics of wealth creation and wealth distribution, and describes SOE structures on a continuum between government corporation and government agency. The privatization effectiveness for stakeholders is discussed and examples provided for each classification of privatization.

Details

The International Journal of Organizational Analysis, vol. 4 no. 4
Type: Research Article
ISSN: 1055-3185

Article
Publication date: 1 September 1997

Kazem Chaharbaghi and Victor Newman

Wealth does not exist in infinite volume, it has to be created. The creation of new wealth which is necessary to support growing social expectations is determined by the…

881

Abstract

Wealth does not exist in infinite volume, it has to be created. The creation of new wealth which is necessary to support growing social expectations is determined by the ability to create new market values in the form of a new knowledge that significantly alters the patterns of expectations. The prevailing mindset, however, currently favours a stable formula for maintaining existing market values. Provides a framework for wealth creation by defining knowledge in a way that encompasses its origins through to the technologies which exploit it in the form of new market values.

Details

Management Decision, vol. 35 no. 7
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 May 1999

Denis B. Kilroy

Suggests that in many companies that have adopted value‐based management, there is a need to shift the focus of management attention from the measurement of value, to the…

2983

Abstract

Suggests that in many companies that have adopted value‐based management, there is a need to shift the focus of management attention from the measurement of value, to the creation of wealth. Argues that shareholder wealth creation is a creative endeavour on the part of the management and employees of a business – and that wealth will only be created for shareholders if management delivers financial performance that exceeds market expectations. This requires the successful implementation of higher value strategies developed from new ideas – not simply the adoption of value‐based measurement and incentive systems.

Details

Management Decision, vol. 37 no. 4
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 4 January 2013

Jon‐Arild Johannessen and Hugo Skålsvik

One of the problems we face in the transition from an industrial society to a global knowledge economy is the need for a new breed of leaders and a new understanding of…

1414

Abstract

Purpose

One of the problems we face in the transition from an industrial society to a global knowledge economy is the need for a new breed of leaders and a new understanding of leadership. Creativity in organizations is traditionally considered to be the domain of the R&D department, and design and marketing functions. The consequences of this way of thinking are that creativity, innovation and the implementation of innovation have not been a part of everyday life throughout an organization, but rather things that are the responsibility of a few people often located in departments far away from the “front line.” It is the front line that is in daily contact with users/customers, and which, in the knowledge society, will become increasingly important. The purpose of this paper is to discuss how we can develop a new type of leadership in the knowledge economy. The authors suggest that the necessary conditions for this new type of leadership, which is refered to here as “innovation leadership”, are developed in a holistic model which includes the following elements: entrepreneurial action, innovative leadership, creative energy fields within the organization, high‐tech wealth creation and innovation as a business process.

Design/methodology/approach

The authors' perspective here is that of a holistic integrated model where leadership and administration coordinate and balance each other, promoting creativity, innovation, productivity and change. The methodology used is conceptual research, where an analytical model is discussed.

Findings

For the established policy in enterprises and other social systems it is important to open up to fields of contagion, cutting down parts of the forest and allowing the principle of the order of succession to reign freely. In established enterprises it is important to: uncover creative energy fields; identify innovation leaders; spread contagion by cutting down areas of the forest where you want the principle of the order of succession to apply; and ensure that you have active spreaders of contagious new creative energy fields in the enterprise.

Practical implications

If one freely interprets Hamel, then in order to promote the development of relational competence, 80 percent of the resources involved in high‐tech wealth creation should be allocated to innovation culture, and 20 percent to performance culture. Hamel says that innovation culture is constituted by “passion, creativity, initiative”. The most important aspect of innovation culture is not so much developing many new ideas and patents, but rather converting these ideas to profit for the company; the motto “from idea to invoice” springs to mind here. However, in most companies it is perhaps the performance culture rather than the innovation culture that is given priority.

Social implications

The social implications can be stated by citing Hamel, who outlines five important lessons that need to be followed: go to the root of any problem; build what is new on new ground; commit to revolutionary goals, but reach the goals by taking small steps; evaluate continuously, but do not paralyse the system with analysis and quarterly results; and be persevering.

Originality/value

To the authors' knowledge, few authors (if any), have related systemic thinking (cybernetics) to the new leaders we need in the global economy.

Details

Kybernetes, vol. 42 no. 1
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 1 March 2001

Duane Windsor

Corporate social responsibility is one of the earliest and key conceptions in the academic study of business and society relations. This article examines the future of…

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Abstract

Corporate social responsibility is one of the earliest and key conceptions in the academic study of business and society relations. This article examines the future of corporate social responsibility. Bowen's (1953) key question concerned whether the interests of business and society merge in the long ran. That question is assessed in the present and future contexts. There seem to be distinctly anti‐responsibility trends in recent academic literature and managerial views concerning best practices. These trends raise significant doubts about the future status of corporate social responsibility theory and practice. The vital change is that a leitmotif of wealth creation progressively dominates the managerial conception of responsibility. The article provides a developmental history of the corporate social responsibility notion from the Progressive Era forward to the corporate social performance framework and Carroll's pyramid of corporate social responsibilities. There are three emerging alternatives or competitors to responsibility: (1) an economic conception of responsibility; (2) global corporate citizenship; and (3) stakeholder management practices. The article examines and assesses each alternative. The article then assesses the prospects for business responsibility in a global context. Two fundamentals of social responsibility remain: (1) the prevailing psychology of the manager; and (2) the normative framework for addressing how that psychology should be shaped. Implications for practice and scholarship are considered.

Details

The International Journal of Organizational Analysis, vol. 9 no. 3
Type: Research Article
ISSN: 1055-3185

Open Access
Article
Publication date: 22 December 2020

Yinxing Hong

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive…

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Abstract

Purpose

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces. Emancipating and developing productive forces and achieving common prosperity become the main theme. Wealth supersedes value as the fundamental category of economic analysis.

Design/methodology/approach

The theoretical system of socialist political economy with Chinese characteristics cannot proceed from transcendental theories but is problem-oriented. Leading problems involve development stages and research-level problems.

Findings

The economic operation analysis is subject to the goal of optimal allocation of resources with micro-level analysis focused on efficiency and macro-level analysis focused on economic growth and macroeconomic stability also known as economic security. The economic development analysis explores the laws of development and related development concepts in compliance with laws of productive forces. The new development concepts i.e. the innovative coordinated green open and shared development drive the innovation of development theory in political economy.

Originality/value

Accordingly, the political economy cannot study the system only, but also needs to study the problems of economic operation and economic development. Therefore, the theoretical system of the political economy tends to encompass three major parts, namely economic system, economic operation and economic development (including foreign economy). The basic economic system analysis needs to understand the relationship between public ownership and non-public ownership, between distribution according to work and factor payments, and between socialism and market economy from the perspective of coexistence theory, thus transforming institutional advantage into governance advantage.

Details

China Political Economy, vol. 3 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Book part
Publication date: 1 January 2014

Alan Southern

This chapter explores the importance of place in the creation of new enterprise and wealth.

Abstract

Purpose

This chapter explores the importance of place in the creation of new enterprise and wealth.

Methodology/approach

The chapter deploys a case study of the Liverpool city-region and provides a critical review of the conditions for small enterprise in the locality, with attention paid to enterprise in low income communities.

Findings

The argument here suggests that place and public investment are important contributory factors to help understand how enterprise can contribute to wealth creation.

Research limitations/implications

Further work is required to comprehend the wider aspects of enterprise in the context of place and particularly its relevance to low income communities.

Practical implications

Policy makers may acknowledge how enterprise as a tool of wealth creation can reinforce local dynamics of social and economic exclusion and that the nuance of place needs to be taken into account.

Social implications

Small enterprises have a wider potential beyond their economic role to impact local communities.

Originality/value

There are some studies in entrepreneurship that consider the propinquity between enterprise, place and wealth creation although placing this in the context of local economic decline and low income communities is a relatively under researched and misunderstood domain.

Details

Enterprising Places: Leadership and Governance Networks
Type: Book
ISBN: 978-1-78350-641-5

Keywords

Book part
Publication date: 14 March 2003

Larry W Cox, Michael D Ensley and S.Michael Camp

This study tests the “Resource Balance Proposition” that is developed from the Resource-Based View (RBV) of strategy. While recent research using RBV to study new ventures…

Abstract

This study tests the “Resource Balance Proposition” that is developed from the Resource-Based View (RBV) of strategy. While recent research using RBV to study new ventures has focused primarily on the identification and acquisition of resources (Alvarez & Busenitz, 2001; Lichtenstein & Brush, 2001), this investigation examines the deployment of given resources in the pursuit of growth. It argues that the effective management of the resource base is at least as important to long-term survival as securing that base in the first place. Further, it assumes that firm growth is a desirable goal (especially for young firms) but posits that growth is not without cost and highly accelerated growth is particularly costly. Therefore, the hypotheses presented in this paper propose that there is a growth trajectory that optimizes profits and net worth by striking a balance between the resource deployments necessary to fuel growth and those needed to meet current obligations. The findings from this study confirm that both too little and too much growth have detrimental effects on firm vitality. More specifically, the data show a curvilinear relationship between the absolute rate of firm growth and the levels of both profits and net worth. This finding provides significant support for the Resource Balance Proposition, which states that the allocation of firm resources must be properly balanced between current resource positions and future resource positions to maximize wealth creation.

Details

Issues in Entrepeneurship
Type: Book
ISBN: 978-1-84950-200-9

1 – 10 of over 23000