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The purpose of this paper is to measure the effectiveness of the hedging with futures currency contracts. Measuring the effectiveness of hedging has become mandatory for Indian companies as the new Indian accounting standards, Ind-AS, specify that the effectiveness of hedges taken by the companies should be evaluated using quantitative methods but leaves it to the company to choose a method of evaluation.

The paper compares three models for evaluating the effectiveness of hedge – ordinary least square (OLS), vector error correction model (VECM) and dynamic conditional correlation multivariate GARCH (DCC-MGARCH) model. The OLS and VECM are the static models, whereas DCC-MGARCH is a dynamic model.

The overall results of the study show that dynamic model (DCC-MGARCH) is a better model for calculating the hedge effectiveness as it outperforms OLS and VECM models.

The new Indian accounting standards (Ind-AS) mandates the calculation of hedge effectiveness. The results of this study are useful for the treasurers in identifying appropriate method for evaluation of hedge effectiveness. Similarly, policymakers and auditors are benefitted as the study provides clarity on different methods of evaluation of hedging effectiveness.

Many previous studies have evaluated the efficiency of the Indian currency futures market, but with rising importance of hedging in the Indian companies, Reserve Bank of India’s initiatives and encouragement for the use of futures for hedging the currency risk and now the mandatory accounting requirement for measuring hedging effectiveness, it has become more relevant to evaluate the effectiveness of hedge. To the authors’ best knowledge, this is one of the first few papers which evaluate the effectiveness of the currency future hedging.

Innovative organizations are increasingly facing challenges in a dynamic market to address corporate social responsibility (CSR) issues; however, research on how organizational learning (OL) contributes to organizations’ social responsibility and innovation remains sparse. This study aims to bridge the gap in previous research and examines how OL and dynamic capabilities (DCs) act as drivers of CSR performance (CSRP) and innovation performance.

This study is survey-based and uses time-lagged, multisource data from 151 pharmaceutical industry-related companies in Iran. Structural equation modeling was applied to test the validity of the measurement model and hierarchical regression was used to test the key hypotheses.

DCs mediate the relationship between OL and CSRP. Moreover, CSRP significantly mediates the relationship between OL and innovation.

Drawing on the perspective of DCs, this research is among the first to offer new insights in a new context on what antecedent conditions lead to the successful implementation of organizational CSRP and how CSRP would, in turn, lead to subsequent innovation performance improvement.

The aim of the current study is to measure the dynamic relationship between intellectual capital (IC) and firm performance in Brazil, Russia, India, China and South Africa (BRICS) economies.

The current study applies dynamic panel system generalized method of moments estimator to investigate the dynamic relationship between IC and firm performance of 6,045 publically listed firms in BRICS economies for the period of 2005-2014.

The results revealed that IC efficiency is significantly associated with return on assets and return on equity. Furthermore, human, structural and physical capitals have a positive and significant impact on firm performance. The results, while endorsing resource-based, resource-dependency and learning organization theories, emphasize the importance of IC for firm performance.

The current study does not only provides new direction for future research to analyze dynamic nature of IC and firm performance relationship but also emphasizes the importance of intangibles because of their contribution toward value added. The current study does provide cross-country comparison of top five emerging economies which is useful for the policy makers to evaluate investments in intangibles.

The current study is the first study to use dynamic ordinary least square (OLS) and Wooldridge strict exogeneity test to test the dynamic nature of the relationship between IC and firm performance. Moreover, unlike previous studies which ignore South Africa, this study covers all BRICS economies.

Most academic work usually explains organizational learning as a simple translation of individual learning. To fill this gap, this article focuses on the analysis of organizational learning as an iterative process in which group learning level is important. In this way, the model of organizational learning and knowledge generation presented in this article integrates the ontological and epistemological dimensions of knowledge and may be useful for knowledge management in organizations.

In this chapter, we study the asymptotic distributions for ordinary least squares (OLS), fully modified OLS (FMOLS), and dynamic OLS (DOLS) estimators in cointegrated regression models in panel data. We show that the OLS, FMOLS, and DOLS estimators are all asymptotically normally distributed. However, the asymptotic distribution of the OLS estimator is shown to have a non-zero mean. Monte Carlo results illustrate the sampling behavior of the proposed estimators and show that (1) the OLS estimator has a non-negligible bias in finite samples, (2) the FMOLS estimator does not improve over the OLS estimator in general, and (3) the DOLS outperforms both the OLS and FMOLS estimators.

This paper aims to focus on research regarding organizational learning (OL) and knowledge management (KM), and to specifically investigate whether OL has been conceptually absorbed by KM.

This study is based on 16,185 articles from the Scopus and ISI Web of Science databases, using VantagePoint 10.0 software. The method used in this study is a systematic literature review covering KM and OL publications from the 1970s, when the OL field started to grow, up to 2016.

Nuclear processes of OL, creation and acquisition of knowledge, have been conceptually absorbed by KM literature in the past years.

Only two databases have been considered, Scopus and ISI Web of Science, because of their academic prestige. However, these databases include a large number of articles on KM and OL. Search terms used could exclude some relevant terms, although all major descriptive terms have been included.

This paper identifies thematic clusters in KM and OL, evolution of both fields, most cited authors and representative journals by topic.

This is the first paper to jointly analyse the evolution of KM and OL. This paper shows a conceptual absorption of OL into KM, which may enrich academic discussion and also provide some clarity to the conceptualization of these two fields.

Achieving organizational-level outcomes through human resource practices (HRP) as the basis of nearly all organizational improvements has remained relatively unexplored, which requires more investigations. Therefore, the present study aimed to develop a framework to theorize how high-performance work systems (HPWS) can provide organizations with critical instruments for organizational learning (OL) creation that in turn leads to innovation performance (IP).

Survey-based, multisource research was designed to examine the proposed model, using the data collected from 154 pharmaceutical industry-related companies.

According to the study results, HPWS concentrating on enhancing practices of abilities, motivations and opportunities (AMO) were positively associated with OL, which could in turn improve IP. Moreover, innovation culture (IC) showed a significant moderating effect on the association between OL and IP.

The central originality of this research first is that HPWS acts as antecedents of OL capabilities contributing to firm-level IP; second, the relationship between OL and firm IP is contingent upon the level of IC in organizations.

Different studies have analyzed the relationship between organizational learning (OL) and innovation performance (IP). However, the question of how innovation culture (IC) affects the relationship between OL and IP remains unexplored. This study aims to examine the impact of IC on the relationship between OL and various dimensions of IP, including product, process and objective innovation.

A research model was developed and performed based on the relevant literature in the field of OL, IC and IP. The hypotheses are tested with the data collected from companies operating in an intensive knowledge-based industry.

Based on the results of 625 questionnaires completed by pharmaceutical companies, OL activities and IC can result in product and process innovation. However, this relationship was not supported for the objective innovation. Furthermore, in terms of the moderating role of IC in the relationship between OL and IP dimensions, the results were significant.

The findings help to gain a better understanding of how organizational commitment by creating a culture for innovation can help to maximize the benefits of continuous OL in product and process innovation.

Considering the three aspects of IP, it is the first survey of the contribution of OL in firms’ IP with considering the moderating role of IC. The proposed model would enrich the relevant literature and provide us with better understanding how OL contributes to the IP.

This paper provides remarkable insight into the structural components of a firm's core competence and its development via research and development (R&D) activities for innovation and exporting activities.

The authors have used a positivist design and a deductive methodology. The authors have examined the extant literature developing a theoretical framework to empirically investigate the relationships between a firm's core competence, organisational learning (OL), tacitness, dynamic capability and R&D activities. To carry out this investigation, the authors have collected stratified sample data from 330 firms operating in North East England, a peripheral region of England.

The authors have found that there are indeed significant statistical relationships between these structural components, R&D activities and a firm's core competence, and this nexus is pertinent to innovation and exporting. Furthermore, it is found that North East England is significantly constrained by the lack of finance, technological capability, experts and brain drain. Based on these findings, the authors propose a cooperative R&D framework to narrow down these constraints to assist firms in developing core competencies for innovation and exporting in peripheral regions.

There is an urgent need to investigate the incidence of knowledge-driven activities, R&D, the extent of innovation and exporting activities of firms operating in North East England, a peripheral region of the United Kingdom (UK).

This study provides an original and systematic investigation of the firm's core competence and its formation via key structural components for innovation and exporting within an empirical framework.

The purpose of this study is to estimate the long‐run elasticities of the demand (consumption) for total energy in Jordan for the 1980‐1999 period. Assuming a simple linear relationship, in order to estimates the elasticities of a simple long‐run demand equation, we then employ a procedure just recently prescribed by Stock‐Watson (1993) known as Dynamic OLS (DOLS). The DOLS procedure allows for co‐integrated variables as well as tackling the problem of simultaneity amongst the regressors. Furthermore, Stock and Watson showed that DOLS is more favorable, particularly in small size samples, compared to a number of alternative estimators of longrun parameters, including those proposed by Engle‐Granger (1987), Johansen (1988) and error correction model. The analysis provided in this paper showed that the income elasticity of final energy consumption is 1.15, which indicated that the economic growth is accompanied by proportional increase in energy consumption. The responsiveness of energy consumption to price change is ‐1.14 suggesting that taxes on their own are likely to achieve government goals for energy conservation.