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Article
Publication date: 1 August 1997

Sangeet Dhanani, Nicholas O’Shaughnessy and Eric Louw

Describes an empirical study which aimed to compare the marketing practices used by high‐tech and low‐tech companies in the UK, and to attempt to explain any significant…

Abstract

Describes an empirical study which aimed to compare the marketing practices used by high‐tech and low‐tech companies in the UK, and to attempt to explain any significant differences. Concludes that there is increasing awareness of the salience of marketing by UK high technology companies, though they are still not as market oriented as low‐tech ones. Suggests that broadly speaking results replicate earlier findings in US high technology firms, with the critical difference that the British companies rate both the possession of the latest technology and price competition less seriously than the American organizations.

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Logistics Information Management, vol. 10 no. 4
Type: Research Article
ISSN: 0957-6053

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Book part
Publication date: 14 July 2006

Hanna Silvola

This paper investigates the extent to which formal capital budgeting methods are used in small high-tech firms. We define high-tech firms by their R&D intensity. In…

Abstract

This paper investigates the extent to which formal capital budgeting methods are used in small high-tech firms. We define high-tech firms by their R&D intensity. In addition, we define software industry as a special type of R&D-intensive firm. We focus on the methods that are used by the small high-tech firms in evaluating the profitability of investment projects, estimating the cost of capital and making decisions related to the capital structure. Our results based on two surveys of Finnish firms indicate that the high-tech firms use similar capital budgeting methods and estimate their cost of capital in a similar way to other small-sized firms in other industries. Moreover, high-tech firms seek external financing and co-owners.

Details

Advances in Management Accounting
Type: Book
ISBN: 978-1-84950-447-8

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Article
Publication date: 9 September 2019

Li Cui, Mengru Zhai, Jing Dai, Yang Liu and Pan Zhang

In light of the lack of subjective criteria and scientific rationality in current sustainability performance assessment, the purpose of this paper is conducted to improve…

Abstract

Purpose

In light of the lack of subjective criteria and scientific rationality in current sustainability performance assessment, the purpose of this paper is conducted to improve the sustainability performance assessment of high-tech firms by developing a hybrid approach that integrates quantitative and qualitative research methods.

Design/methodology/approach

This study proposed a hybrid approach that integrates word frequency analysis, cluster analysis, grey theory and the decision-making and trial evaluation laboratory (DEMATEL) method. Specifically, this study identifies useful criteria using quantitative word frequency analysis as well as qualitative literature research. Then, cluster analysis is used to divide these criteria into different categories. Subsequently, this study applies the grey theory associated with the DEMATEL method to assess the sustainability performance of high-tech firms.

Findings

The results reveal that the socio-environment is an important aspect underlying the corporate sustainability performance of high-tech firms. Therefore, high-tech firms should enhance their pollution emission control capabilities and increase investment in energy-conservation and emission-reduction technologies to drive sustainable development. In addition, increasing green product sales revenue and improving the guiding capability of green consumption are core issues that firms must address.

Originality/value

This study assesses the sustainability performance of high-tech firms by applying a hybrid method. This method can be used to construct a framework for scientific sustainability performance assessment and to provide a clear direction for the sustainable development of firms.

Details

Industrial Management & Data Systems, vol. 119 no. 8
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 26 June 2019

Ruihan Zhang and Bing Sun

The purpose of this paper is to determine how high-tech firms should choose between independent research and development and technology introduction as well as to…

Abstract

Purpose

The purpose of this paper is to determine how high-tech firms should choose between independent research and development and technology introduction as well as to ascertain the effects of the three elements of competitive dynamics on the evolution of innovative behavior-based decisions and competitive results.

Design/methodology/approach

This paper describes the construction of an evolutionary game model and a multi-agent-based model of innovative behavior-based decisions by heterogeneous high-tech firms. The models are used to analyze the evolution path and evolutionarily stable strategy of innovative behavior-based decisions. In addition, multi-agent-based simulation is used to gain insight into the effects of competitive dynamics on the dynamic evolution of innovative behavior-based decisions.

Findings

This paper reveals four evolutionary equilibrium states of the innovation behavior-based decisions of high-tech firms. Based on the findings, these overall evolutionary trends are not affected by the timing of competitive market entry or the intensity of competition. In addition, simulated evidence is added that the timing of competitive market entry is an important factor affecting market-leading innovative strategies and dynamic competition results, and competition intensity is closely related to the evolutionary speed of innovation behavior-based decisions.

Originality/value

The key contribution of this paper is its new view of innovative behavior-based decisions from a competitive dynamics perspective. The new competitive dynamics-based framework for innovative behavior-based decisions of high-tech firms proposed in the paper can resolve the problem of obtaining a sustainable competitive advantage for high-tech firms in a competitive dynamics context.

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Article
Publication date: 8 February 2008

Jaemin Kim, Kuntara Pukthuanthong‐Le and Thomas Walker

The extant literature on initial public offerings (IPOs) generally assumes that a high degree of pre‐IPO leverage serves as a positive signal of firm quality as it forces…

Abstract

Purpose

The extant literature on initial public offerings (IPOs) generally assumes that a high degree of pre‐IPO leverage serves as a positive signal of firm quality as it forces a firm's managers to adhere to tough budget constraints. The purpose of this paper is to question the validity of this assumption when it is indiscriminately applied to all firms, while other potentially important determinants of a firm's optimal capital structure are ignored. High‐tech versus low‐tech firms are specifically focused on.

Design/methodology/approach

Multivariate regression controlling is used for various firm and offer characteristics, market and industry returns, and potential endogeneity between investment bank rankings, price revisions, and under‐pricing.

Findings

It is found that debt only serves as a signal of better firm quality for low‐tech IPOs, as reflected in smaller price revisions and lower under‐pricing. For high‐tech IPOs, the effect of leverage is reversed: for these firms, higher leverage is associated with increased risk and uncertainty as reflected by higher price revisions and greater under‐pricing. The results remain significant after controlling for various firm variables as mentioned above.

Practical implications

The research results allow managers of high‐tech firms that contemplate going public to better understand the effect their company's capital structure will have on the pricing of their IPO. Prior research generally suggests that – irrespective of a firm's underlying characteristics – higher financial leverage results in lower under‐pricing. The findings highlight the falsity of this generalization and point out that it only holds for low‐tech firms. Firms that operate in a high‐tech sector, on the other hand, will leave less money on the table if they use equity rather than debt financing.

Originality/value

It is shown that leverage only serves as a positive signal for low‐tech firms. The IPOs of these firms generally undergo smaller price revisions and are less under‐priced than the IPOs of low‐tech firms that use little debt in their capital structure. While this result is consistent with earlier studies, it is show that the relationship between these variables reverses for high‐tech IPOs. Specifically, it is found that high‐tech IPOs with high leverage undergo larger price revisions and are more under‐priced than high‐tech firms with low leverage. In contrast to earlier findings, this suggests that for high‐tech IPOs, higher leverage implies increased ex‐ante uncertainty and risks.

Details

Management Decision, vol. 46 no. 1
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 14 May 2019

Debabrata Ghosh, Peeyush Mehta and Balram Avittathur

The purpose of this paper is to understand the practices and policies unique to high-tech manufacturing start-ups in emerging economies, such as India. The study analyzes…

Abstract

Purpose

The purpose of this paper is to understand the practices and policies unique to high-tech manufacturing start-ups in emerging economies, such as India. The study analyzes the main features and challenges of the high-tech manufacturing sector, and the way in which enabling environment including policy making, supply chain capability and related technologies through Industry 4.0 could be leveraged to foster growth.

Design/methodology/approach

The paper undertakes an exploratory approach through in-depth semi-structured interviews conducted with high-tech manufacturing firms in various stages of their growth. The paper provides evidence of the challenges that high-tech manufacturing firms face in India, the strategies they adopt and highlights the role of institutional structures and policies.

Findings

Findings show that high-tech manufacturing start-ups in India face various challenges in the upstream, production and downstream supply chain processes. Further, issues related to availability of quality material, quality suppliers, contracts, funding and access to markets remain. Results also show that enabling operational and financial levers could be created by policy makers and other stakeholders to help the high-tech manufacturing start-ups scale faster and create value.

Originality/value

This paper contributes to the R&D intensive industry and high-tech manufacturing literature in the context of emerging economies, such as India, and provides a rigorous overview of the start-up ecosystem in high-tech manufacturing.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

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Book part
Publication date: 31 October 2009

Anita Juho and Tuija Mainela

Purpose – The study examines the roles of external facilitation in the internationalization process of high-tech firms.Methodology/approach – The study elaborates on the…

Abstract

Purpose – The study examines the roles of external facilitation in the internationalization process of high-tech firms.

Methodology/approach – The study elaborates on the roles of external facilitation through a case study of two small high-tech firms that took part in a partly governmentally financed facilitation program.

Findings – The study illustrates the internationalization of a high-tech firm as a process that includes actions of both the facilitating actors and the high-tech firm. It defines the primary roles of external facilitation over the facilitated internationalization process of firms.

Research limitations/implications – The internationalization was followed only during the time that the firms participated in a facilitation program. The external facilitation under study is of a program type; therefore the process followed is not a spontaneous one but the facilitation has certain planned phases. Future research should be conducted on the entire internationalization processes of these firms and on the utilization of various types of external facilitation.

Practical implications – The study shows how high-tech firms can benefit from external facilitation in their internationalization. It gives insight into how the type of the company and its background are related to the roles of external facilitation.

Originality/value – The study extends the existing research on the internationalization of small high-tech firms by focusing on the roles of external facilitation in their internationalization. There are numerous institutions and actors who aim to facilitate the internationalization of small firms, but there is a limited amount of research on the roles of these facilitators.

Details

Research on Knowledge, Innovation and Internationalization
Type: Book
ISBN: 978-1-84855-956-1

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Article
Publication date: 11 October 2019

Jian Xu and Jingsuo Li

The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized…

Abstract

Purpose

The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized enterprises (SMEs) operating in China’s manufacturing sector, and to examine the relationship between IC and the performance of high-tech and non-high-tech SMEs.

Design/methodology/approach

The study uses the data of 116 high-tech SMEs and 380 non-high-tech SMEs listed on the Shenzhen stock exchanges during 2012–2016. The modified value added intellectual coefficient (MVAIC) model is used incorporating four components, namely, capital employed, human capital, structural capital and relational capital. Finally, multiple regression analysis is utilized to test the proposed research hypotheses.

Findings

The findings of this paper reveal that there is significant difference in MVAIC between high-tech and non-high-tech SMEs. The results further indicate a positive relationship between IC and financial performance of high-tech and non-high-tech SMEs. Specifically, IC is positively associated with firms’ earnings, profitability and operating efficiency. Additionally, capital employed efficiency, human capital efficiency and structural capital efficiency are found to be the most influential value drivers for the performance of two types of SMEs while relational capital efficiency possesses less importance.

Practical implications

This paper will provide a valuable framework for executives, managers and policy makers in managing IC within the Chinese context.

Originality/value

To the best knowledge of the authors, this is the first empirical study that has been conducted on high-tech and non-high-tech SMEs in the manufacturing sector in China.

Details

Journal of Intellectual Capital, vol. 20 no. 4
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 October 2006

Yuan Li, Yongbin Zhao and Yi Liu

Human resource management (HRM) is seen as crucial for innovation and firm performance in China. This paper aims to carry out an empirical research to investigate the…

Abstract

Purpose

Human resource management (HRM) is seen as crucial for innovation and firm performance in China. This paper aims to carry out an empirical research to investigate the effects of main dimensions of HRM on technological innovation as well as organizational performance.

Design/methodology/approach

The research uses a sample of 194 high‐tech firms surveyed in eight provinces in China.

Findings

This research finds that employee training, immaterial motivation and process control have positive effects on technological innovation, while material motivation and outcome control have a negative influence on technological innovation. It is also found that technological innovation is positively related with performance.

Research limitations/implications

This study does not consider the different influence of every HRM dimension affecting different innovation types. This should be a future research topic.

Practical implications

This study provides useful managerial implication for managers. First, employee training is needed to develop employees' knowledge. Second, material incentive is needed but not main motivation in Chinese high‐tech firms. Third, process control should be emphasized more than outcome control in Chinese high‐tech firms.

Originality/value

This study demonstrated that the HRM significantly contributed to technological innovation and firm performance. This study demonstrates that Chinese high‐tech firms' HRM has an important influence on technological innovation, and lead to firm's superior performance.

Details

International Journal of Manpower, vol. 27 no. 7
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 2 February 2010

Blanca Hernandez, Julio Jimenez and M. José Martin

The aim of the paper is to analyse the acceptance of business management software by focusing on high‐tech firms dedicated to information technologies and belonging to the…

Abstract

Purpose

The aim of the paper is to analyse the acceptance of business management software by focusing on high‐tech firms dedicated to information technologies and belonging to the service sector (IT high‐tech firms).

Design/methodology/approach

The authors have applied an extended technology acceptance model (TAM) which includes variables related to technological compatibility and web procurement. It has been tested through structural equation modelling.

Findings

The results show that IT high‐tech firms must understand the interrelationships that exist between different information technologies (IT) and must, therefore, acquire technological know‐how. This technological knowledge permits firms to improve their perceptions of ease of use and usefulness, obtaining better results when computerising their management.

Research limitations/implications

IT high‐tech firms must be aware that investment in a specific IT may affect the subsequent performance of other IT, due to the synergies derived from the application of complementary systems. Therefore, continuous investment in IT encourages the acquisition of technological knowledge that can be exploited in the computerisation of the main organisational functions and lead to greater overall efficiency.

Originality/value

Studies of IT high‐tech firms based on behavioural models, such as TAM, are in short supply. An understanding of how firms that produce IT as an output also use it as an input in their productive process, allows us to evaluate the importance of acquiring technological knowledge. Moreover, IT high‐tech firms have repercussions in almost all the sectors of the economy because they usually handle the implementation, maintenance and development of IT in other firms.

Details

Journal of Business & Industrial Marketing, vol. 25 no. 2
Type: Research Article
ISSN: 0885-8624

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