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Book part
Publication date: 14 August 2020

Danu Patria, Petrus A. Usmanij and Vanessa Ratten

Small traditional industry has been recognized as an important local economy that support cultural industry and is significant in many parts of the world, particularly in…

Abstract

Small traditional industry has been recognized as an important local economy that support cultural industry and is significant in many parts of the world, particularly in developing countries. The significance of this type industry as a poverty barrier, enables jobs for local rural villagers, and their role in continuing local community based cultural activities have become obvious. However, as the current modern days global pressures affecting many traditional people in developing countries, pathways of small traditional industry toward local sustainable development remain unclear. Further continuous investigations are still required on how this industry provide the platform for greater local, regional and global sustainability. Literatures and debates on the sustainability of the rural developing country concerning small traditional industries may even begin from the establishment of Brundtland sustainability commission in 1987. The conflict between brown and green agenda in Brundtland commission may also point to small-scale traditional industry growth in the developing world. Cultural traditional industries in developing countries could better lead to local sustainability pathway. On the other hand, conflict of the use of natural resources and competition may create different stories. How traditional industry in developing country survive and further innovate for development is a significant knowledge to understand. This chapter uses Jepara traditional furniture industry in Central Java – Indonesia which has been the subject of prolonged study on how small-scale industry implicated to global competition and pressures of raw material resources decline. This chapter further reviews previous research and recent study on Jepara industry upgrade and innovation, and how likely innovation may prosper for the future sustainability of this type of industry.

Details

Entrepreneurship as Empowerment: Knowledge Spillovers and Entrepreneurial Ecosystems
Type: Book
ISBN: 978-1-83982-551-4

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Book part
Publication date: 16 October 2020

Danu Patria, Petrus Usmanij and Vanessa Ratten

Traditional industry was initially built with kinship, cultural value, and unique characters representing a particular system of production. However, current industry

Abstract

Traditional industry was initially built with kinship, cultural value, and unique characters representing a particular system of production. However, current industry challenges pressurized traditional industry bond of primordial system with the need of adaptations to survive. Some traditional industry may resist the twenty-first-century challenges and pressures, but many of them are transforming their cultural and production characters to adapt modern business competitions. Indonesian traditional furniture industry Jepara has their familial system of productions which constitute “flexible specialization” where particular kinship and work contract created from a very specialized household small-scale furniture producer. However, this production system in fact struggles and is contrasted with the community needs to survive in the industry. The likely occurring progress of traditional industry are then remaining on the senior members of the industry to preserve knowledge which has empowered over many generations, while the younger generations consider transforming their ability for survivability and better financial rewards.

This chapter is the further elaboration of how Indonesian rural traditional furniture industry in Jepara presents its survivability and whether it is sustainable. This chapter exemplifies participants’ quotes and statements which create anxiety toward their future, cultural value, bond of industry kinship, and doubting their ability to withhold global and local pressures.

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A Guide to Planning and Managing Open Innovative Ecosystems
Type: Book
ISBN: 978-1-78973-409-6

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Article
Publication date: 8 April 2021

Zonghui Li and Douglas Johansen

Drawing on the resource-based view, this study aims to examine how family involvement in migrant-founded small businesses gives rise to distinctive resources that help…

Abstract

Purpose

Drawing on the resource-based view, this study aims to examine how family involvement in migrant-founded small businesses gives rise to distinctive resources that help these businesses survive.

Design/methodology/approach

Using microdata from the 2007 US survey of business owners (SBO), this study uses logit regression modeling to test the hypothesized relationships.

Findings

Results show that small businesses founded by migrant entrepreneurs are less likely to survive and that family involvement weakens the negative relationship between founder migrant status and business survivability. In addition, the positive moderating effect associated with family involvement is further strengthened by the use of external/borrowing startup capital, thus migrant families founded small businesses with access to external capital have the highest probability of survival.

Originality/value

This study contributes to the literature on both migrant entrepreneurship and family business. This paper finds family involvement in the business, interacting with the founder’s migrant status, tends to create distinctive resource endowments that help to compensate for the resource constraints associated with migrant entrepreneurs. Such resource endowments may take the form of high levels of solidarity among migrant family members and the spanning role of the migrant kinship networks extended from the country of origin to the country of residence.

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Journal of Enterprising Communities: People and Places in the Global Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 13 October 2021

Manish Mohan Baral, Rajesh Kumar Singh and Yiğit Kazançoğlu

Nowadays, many firms are finding ways to enhance the survivability of sustainable supply chains (SUSSCs). The present study aims to develop a model for the SUSSCs of small

Abstract

Purpose

Nowadays, many firms are finding ways to enhance the survivability of sustainable supply chains (SUSSCs). The present study aims to develop a model for the SUSSCs of small and medium enterprises (SMEs) during the COVID-19 pandemic.

Design/methodology/approach

With the help of exhaustive literature review, constructs and items are identified to collect the responses from different SMEs. A total of 278 complete responses are received and 6 hypotheses are developed. Hypotheses testing have been done using structural equation modeling (SEM).

Findings

Major constructs identified for the study are supply chain (SC) performance measurement under uncertainty (SPMU), supply chain cooperation (SCCO), supply chain positioning (SCP), supply chain administration (SCA), supply chain feasibility (SCF) and the SUSSCs. From statistical analysis of the data collected, it can be concluded that the considered latent variables contribute significantly towardsthe model fit.

Research limitations/implications

The present study contributes to the existing literature on disruptions and survivability. The study can be further carried out in context to different countries and sectors to generalize the findings.

Practical implications

The research findings will be fruitful for SMEs and other organizations in developing strategies to improve survivability during uncertain business environments.

Originality/value

The study has developed a model that shows that the identified latent variables and their indicators contribute significantly toward the dependent variable, i.e. survivability. It contributes significantly in bridging the research gaps existing in context to the survivability of SMEs.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

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Open Access
Article
Publication date: 4 November 2021

Beata Agnieszka Żukowska, Olga Anna Martyniuk and Robert Zajkowski

Survivability capital is a unique resource resulting from the “familiness” constituting an inherent feature of family firms. Familiness represents the ability of family…

Abstract

Purpose

Survivability capital is a unique resource resulting from the “familiness” constituting an inherent feature of family firms. Familiness represents the ability of family members to reinforce the financial and non-financial resources of businesses facing threats to their economic existence. This work proposes and examines various dimensions of the survivability capital construct, verifying whether family firms expecting deterioration of their economic situation or problems with survival due to the COVID-19 crisis can mobilise sufficient capital to survive.

Design/methodology/approach

This article provides empirical evidence based on a cross-sectional online survey of 167 Polish family firms, conducted at the beginning of the COVID-19 pandemic. The method (scale) of survivability capital measurement was elaborated and validated using principal component analysis (PCA) and confirmatory factor analyses (CFA). Next, the mobilisation of the different dimensions of survivability capital was examined using PLS-SEM modelling.

Findings

The survivability capital of family firms is composed of two dimensions: internal (based on directly involved family members) and external (based on not directly involved family members). Family firms facing crisis-induced deterioration of the economic situation engage its internal component. Subsequently, family firms forecasting decreasing probability of survival during a crisis try to engage both the internal and the external components of survivability capital. Such behaviour is in line with the resource-based view as well as with the sustainable family business theory.

Originality/value

To the best of the authors' knowledge, this is one of the first studies to examine analytically the survivability capital construct. While previous studies mentioned the existence of survivability capital, this study attempts to introduce its various dimensions and test the mobilisation of survivability capital during the COVID-19 crisis.

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International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 9
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 28 June 2013

John C. Alexander, Ping Cheng, Ronald C. Rutherford and Thomas M. Springer

The purpose of this paper is to examine how long a real estate investment trust (REIT) initial public offer (IPO) survives until a merger occurs, and to determine the…

Abstract

Purpose

The purpose of this paper is to examine how long a real estate investment trust (REIT) initial public offer (IPO) survives until a merger occurs, and to determine the impact of different firm characteristics that exist at the time of the IPO on that survival in the aftermarket period.

Design/methodology/approach

The authors apply an accelerated failure time (AFT) duration model to determine how long the IPO will survive until merger occurs.

Findings

The results indicate that the time from the IPO to an eventual merger increases with size, the age of the REIT at IPO, and the percentage of institutional ownership. In contrast, the authors find that the time until merger decreases with increased market performance prior to the time of the offering and with the number of additional IPOs occurring at the time of the IPO.

Practical implications

There is a growing body of research that suggests that IPOs might be motivated by subsequent mergers. An understanding of those characteristics that effect the time until a merger occurs these relationships will enable market participants and capital providers to make better decisions about proceeding with, or evaluating, a REIT IPO.

Originality/value

There is a significant body of research on IPOs in general; however, the findings of this research vary depending upon the industry being examined. Further, there are a limited number of papers on IPO aftermarket survival. This is the only paper on REIT IPO aftermarket survival.

Details

Managerial Finance, vol. 39 no. 8
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 February 2000

DAVID ARDITI, ALMULA KOKSAL and SERDAR KALE

The objective of the research presented in this paper is to explore the factors associated with company failures in the context of the construction industry. To that end…

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Abstract

The objective of the research presented in this paper is to explore the factors associated with company failures in the context of the construction industry. To that end, the four quadrants of an ‘environment/response’ matrix developed by Boyle & Desai (1991. Journal of Small Business Management, 29, 33–42) are populated with Dun and Bradstreet's US business failure data for the construction industry. The study indicates that budgetary and macroeconomic issues represent 83% of the reasons for construction company failures. This implies that firms that take vigorous administrative measures to address budgeting issues and that react promptly to economic conditions by implementing appropriate strategic policies should be able to avoid failure. On the other hand, issues of adaptability to market conditions and business issues appear to have limited effects on company survivability (6% of the reasons for failure). This implies that administrative measures to fend off internal conflicts that originate for reasons beyond management's control and long‐term strategic decisions to regulate the firm's adaptation to market conditions can also help to prevent failure. An ‘input/output’ model appears to explain the business failure phenomenon better than the ‘environment/response’ one.

Details

Engineering, Construction and Architectural Management, vol. 7 no. 2
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 12 April 2021

Vishnu Chandar Venkatesh, Meeta Dasgupta, Anupama Prashar and Torben Juul Andersen

Turbulent hypercompetitive market conditions make small and medium enterprises (SMEs) vulnerable to abrupt crises caused by unexpected competitor moves. In these…

Abstract

Purpose

Turbulent hypercompetitive market conditions make small and medium enterprises (SMEs) vulnerable to abrupt crises caused by unexpected competitor moves. In these situations, enterprise risk management (ERM) can serve as a dynamic capability (DC) to overcome the impending crisis and improve SMEs' survival rates. To explore this capacity, which has only been vaguely addressed in prior research, we conduct an exploratory, abductive study to update the extant (ERM and DC) literature with empirical evidence from expert interviews.

Design/methodology/approach

We conduct an exploratory, abductive study using empirical evidence from expert interviews.

Findings

Our findings reveal ERM as a second-order DC in the micro-foundational components of competitive intelligence gathering, alliance building and integrative capabilities. We find that competitive intensity and government policy moderate the effects of these foundational capabilities. Finally, our study proposes a survivability model that provides new valuable knowledge of ERM as a DC for SMEs to deal with competition-driven crises.

Originality/value

This research survivability model shows how ERM as DC can facilitate the survivability of SMEs against competitive surprises. Although restricted to crises arising out of competitive surprises, this study provides valuable knowledge to the literature on what type of DCs are useful for specific situations. The study findings not only extended Teece's (2007) DCs framework to competitive crises but also placed it within a hierarchy of capabilities. The research findings indicate that an ERM culture in SMEs promote the growth and development of sensing, seizing and reconfiguring capabilities, vital for tiding competitive crises.

Details

Journal of Small Business and Enterprise Development, vol. 28 no. 4
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 27 May 2014

Karyn L. Neuhauser and Thomas H. Thompson

The purpose of this paper is to examine the survivability of 810 reverse splits during the 1995-2006 period and show that companies that undertake reverse stock splits…

Abstract

Purpose

The purpose of this paper is to examine the survivability of 810 reverse splits during the 1995-2006 period and show that companies that undertake reverse stock splits often fail within a relatively short time following the split.

Design/methodology/approach

Applying both a logit model and an adapted version of the Hensler et al. (1997) accelerated failure time model to 810 reverse splits during the 1995-2006 period, the authors are the first to study the survivability of reverse split companies.

Findings

The paper finds that the market reaction to the reverse split on the ex-date is an important predictor of the likelihood of survival and of survival time. The paper finds that the likelihood of survival also depends on firm size, pre-split firm returns, and the post-split share price level. The paper finds that post-split survival time also depends on firm size, pre-split operating performance as measured by return on assets, pre-split firm returns, leverage, and the post-split share price level.

Practical implications

The study may be of interest to investors considering investing in stocks that have undergone reverse splits.

Originality/value

The research sheds light on which reverse splitting firms are most likely to survive and for how long.

Details

International Journal of Managerial Finance, vol. 10 no. 3
Type: Research Article
ISSN: 1743-9132

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Book part
Publication date: 22 July 2021

Haoyu Gao, Ruixiang Jiang, Wei Liu, Junbo Wang and Chunchi Wu

Using initial public offering (IPO) involuntary delisting data, this chapter examines whether and how motivated institutional investors affect the survivability of IPO…

Abstract

Using initial public offering (IPO) involuntary delisting data, this chapter examines whether and how motivated institutional investors affect the survivability of IPO firms. The empirical evidence shows that the likelihood of future delisting is much lower for IPOs with more motivated institutional investors. This impact is more pronounced for firms with higher information asymmetry. The motivated institutional investors also facilitate better post-IPO operating performance. The results are consistent with the prediction of the limited attention theory.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-80043-870-5

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