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The purpose of the study is to examine the relation between board structure and firm performance variability in an international setting. The authors further explore the effect of national culture in shaping such relations.

The authors’ international sample contains 4,911 firms across 49 countries over the 2002–2017 period. The authors use national culture values on individualism and power distance developed by Hofstede (1980, 2001, 2011). The authors focus on within-firm, over-time variability of firm performance and estimate multivariate linear regressions with fixed effects. The authors address the endogeneity concern using the instrumental variable approach, and the authors’ results are robust to alternative measures of variables and different subsamples.

The authors find that firms with larger board size, greater board independence and less powerful CEOs have less variable performance. Individualism has a magnifying effect while power distance has a mitigating effect in shaping such relations.

To the best of the authors’ knowledge, this study is among the first to answer the call of Adams, Hermalin and Weisbach (2010) for research on corporate boards in an international setting. It is also one of the few studies which examine the variability of firm performance, while the majority of existing literature focuses on the level of firm performance. Most importantly, to the best of the authors’ knowledge, this study is the first to explore the role of national culture in shaping boardroom interactions that affect the decision-making process of corporate boards, which, in turn, affects firm performance variability.

Past studies have mainly concentrated on the impact of stress and self-employment on physical health. However, little research has paid attention to firm-level determinants of entrepreneurs’ physical health. This study aims to investigate the relationship between performance variability and entrepreneurs’ physical health as well as the moderating effect of prior failure experience.

This study uses data drawn from 255 start-ups across the Bohai Economic Rim in China over a period of three years (2015–2017). The results are still robust after several robustness checks.

Results show that performance variability is positively related to the probability of entrepreneurs showing poor health. This confirms that performance variability has an adverse effect on entrepreneurs’ physical health. Moreover, this relationship is moderated by the prior failure experience of entrepreneurs.

First, entrepreneurs should gain more information about the firm’s daily operation to reduce the potential threat of performance variability. Second, it is imperative for entrepreneurs to build a stable relationship with their stakeholders to avoid the potential costs related to performance variability. Finally, entrepreneurs should take health consequences into consideration when making strategic decisions.

First, this paper contributes to the studies on the antecedents of entrepreneurs’ physical health by introducing a firm-level determinant (i.e. performance variability). The findings enhance the understanding of the association between entrepreneurs and new ventures. Second, this paper also enriches the extant literature on the outcomes of performance variability. Finally, this paper attempts to offer new insights into prior failure experience by establishing its moderating effect on the performance–health relationship.

The purpose of this paper is to develop and validate a multidimensional hierarchical scale for measuring “e-service quality variation.”

Based on the psychometric scale-development approach, qualitative and quantitative methods were employed to develop the e-SERVAR scale. A multidimensional hierarchical factor structure of e-SERVAR is proposed, along with a set of preliminary items derived from literature and the qualitative study. Furthermore, the Yahoo website in Taiwan was chosen to be the target e-service website for data collection to develop the e-SERVAR scale. A series of statistical methods (i.e. item-to-total correlations, exploratory factor analyses, CFAs and structural equation modeling) were adopted to verify construct reliability and validity as well as nomological validity of the scale.

A 41-item e-SERVAR scale based on the structure of a hierarchical factor model was developed that contains three primary dimensions (i.e. information, system and fulfillment) and nine subdimensions (information accuracy, information quantity, information timeliness, information usefulness, system reliability, system security, merchandise quality, merchandise delivery timeliness and merchandise security).

The results of this study help managers identify sources of quality variability and design efficacious strategies to reduce such variability in order to improve the overall e-service quality.

Prior research of e-service quality has paid less attention to the role of e-service quality variability. Discussion of e-service quality variability was mainly conceptual in nature. This research presents the e-SERVAR scale as a measurement tool that provides a new avenue for researchers to study how to improve e-service quality by measuring service variability.

The purpose of this paper is to assess how direct payments (DPs) of the Common Agricultural Policy affect income and revenue variability faced by Italian farmers.

Balanced farm-level panel data are used to construct coefficients of variation over the period 2003-2012. Nonlinear robust regression techniques are used to measure the effect of DP, farm size, fixity in resources, labor intensity, farm production orientation, and specialization on the variability of farm income (FI) and farm revenue. This is done on the overall sample as well as on subsamples of farms located in different regions and belonging to different types of farming.

DPs have mixed effects on the variability of FI. While a negative and significant relationship is found on the whole national sample, this is not generally the case when models are run on the considered subsamples. On the contrary, DPs have always significant variability increasing effects on revenue. This suggests that DPs reduce the degree of risk that farmers face allowing them to engage in riskier activities. Thus, DPs are less effective than expected in terms of income stabilization because these distort farmers’ risk management behavior. Because of this, DPs could constrain the development of markets for risk management instruments and reduce the effectiveness of policies supporting the use of these instruments.

The analysis is inspired by El Benni et al. (2012) but uses a different approach, applies it to a different country, and yields different results. Volatility measures are calculated over more years, and the paper accounts for differences in farm production orientation and is not based on an unbalanced panel of farms. Because of these differences, the authors obtained different results regarding the correlation between DP and income and, even more, revenue variability. Finally, comparing the results of models referring to FI and farm revenue improves the author’s understanding of the impact of DP on farmers’ risk management behavior and allows interesting policy considerations.

This paper seeks to describe a conceptualisation of the multiple facets of the bullwhip effect between stocking levels within and between value chains and value systems.

The paper provides a conceptual discussion of the bullwhip effect. It is refined and re‐defined.

The bullwhip effect has usually been explored between inter‐organisational stocking levels. Recently, it has also been explored within intra‐organisational stocking levels. A broader descriptive framework is introduced, one that positions the bullwhip effect construct in intra‐ and inter‐organisational, as well as intra‐ and inter‐channel, stocking levels in and between value chains and value systems.

A research agenda is provided that goes beyond current definitional boundaries and state‐of‐the‐art research of the bullwhip effect.

The refined and re‐defined bullwhip effect is of interest to practitioners. It considers inter‐organisational and intra‐organisational stocking levels. In addition, it considers intra‐ and inter‐channel stocking levels. It is of great concern to achieve best practices in business.

The principal contributions are – a dynamics model of the bullwhip effect construct; a principle of stocking level variability; a typology of stocking level variability; a framework that describes different levels of analysis of the bullwhip effect; and a re‐definition of the bullwhip effect construct – within or between value chains and value systems.

The paper aims to empirically investigate how demand variability impacts product category inventory levels and stockout rates of retail firms. Additionally, the moderating effect of product variety on these performance metrics is explored.

Using data from 78 individual retail stores of a single firm located in China, the authors develop a three stage least squares regression model to examine the simultaneous impact of product variety and demand variability on product inventory levels and stockout rates.

The results indicate that product variety and demand variability both negatively influence product category inventory levels and stockout rates. However, contrary to results for manufacturing or distributor environments, product variety dampens the negative relationship between demand variability and inventory.

For products or categories with a high amount of demand variability, retailers can leverage more product variety to help improve their inventory performance. This is likely due to product substitution behaviors.

The authors show that previously examined relationships between product variety, demand variability, and firm performance are different in the retail environment than in the manufacturing or distributor context.

This research seeks to identify and apply techniques that can be used in a supply chain context to diagnose the causes of variability in delivery lead time.

A literature review was conducted and a number of quality management (QM), techniques were selected as candidates for diagnosing delivery time variability. A case study of the application of these techniques is provided on the UK‐based defence supply chain that supported UK operations in the Iraq war of 2003.

Candidate QM techniques for diagnosing delivery time variability were identified, namely: Process Chart; Histogram; Failure Mode and Effect Analysis; and Cause and Effect Analysis. These techniques were successful in enabling the diagnosis of the causes of delivery time variability in the context of the case study investigated.

The work illustrates how QM techniques can be employed to address issues with supply chains, not least with regard to the important problem of variability in delivery leadtime. In practice, this highlights benefits that result to practitioners in order to improve the performance of operations in a dynamic setting, such as the defence supply chain studied here.

This work has value in presenting the findings of an in‐depth case study on the application of QM techniques in a multi‐echelon supply chain setting. It is also original in employing the FMEA technique together with an end‐customer perspective to assess the effect of failure modes in operations across a supply chain. FMEA also provided the means to examine supply chain risk, thus providing a research instrument for deploying risk as a lens. The application of QM techniques in this novel setting provides support for their application beyond the conventional setting of internal operations.

The purpose of this paper is to identify the potential relationship between farm income variability and off-farm employment decisions in the short and medium term for the case of Irish farm operators.

Panel probit models of off-farm labour supply are estimated using Teagasc National Farm Survey data for Irish farms. The framework is based largely on standard expected utility but includes a constraint for recent employment history.

The analyses identifies some evidence of a positive association between farm income variability and off-farm employment in the medium term but no significant relationship in the short term. This suggests that off-farm employment is part of a wider portfolio decision but is not a strong solution to short-term farm income shocks.

European farmers increasingly face high income variability but financial risk management tools are not sufficiently developed or widely accessible to assist farmers in managing the associated risk. This deficiency can have negative implications for household economic welfare and future farm investments and hence the future farm income. Off-farm employment can form part of a wider medium-term portfolio strategy but more effective tools are also required for risk management particularly in dealing with short-term volatility and where off-farm employment is not a realistic endeavour given time constraints and/or demographics.

The estimation of farm income variability includes a detrending method thus reducing the likelihood of overestimating farm income variability for farms in deliberate expansion or decline. While previous research has typically focused on the short-term response of farmers to historical farm income variability, this research has distinguished between the short and medium term.

This paper aims to examine the effects of 9/11/2001 on strategic variability in the US air carrier industry. The paper also seeks to examine the role of firm size in these relationships.

The paper tests two different perspectives on organizational adaptation to environmental jolts: the punctuated equilibrium model and institutional isomorphism. The two counter hypotheses predict either increasing or decreasing variability in strategic response to 9/11, respectively. This is a longitudinal study of the US air carrier industry. The sample includes the major, national, and large regional air carriers in the US from 1979 (post‐deregulation) to 2008. The data come from archival sources. The study includes measures of variability in differentiation and low cost strategies as well as scope.

Time series regressions examine the effects of the 9/11 jolt on business strategy variability in the majors, nationals, and large regionals. The results lend some support to both perspectives on organizational adaptation. Air carrier size had a significant relationship to strategic variability.

The paper studies the behavior of firms in the US air carrier industry following the terrorist attacks of 9/11/2001. It examines two different theoretical approaches to environmental jolts and should provide useful information to both academics and managers who are interested in the effects of significant environmental changes on the behavior of an industry.

The objectives of this study are twofold. First, it intends to investigate the symmetric link between initial public offering (IPO) variability and the determinants of the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment. Second, this study intends to examine the asymmetric link between IPO variability and the aforementioned determinants, namely the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment.

Data from 1992 to 2018 were gathered from the country of Pakistan in order to achieve the above objectives. Augmented Dickey–Fuller (ADF) and Phillips Perron (PP) unit root tests were employed to determine the data's stationarity properties. The Auto Regressive Distributive Lags (ARDL) model was utilized to examine the symmetric links, and the Non-Linear Auto Regressive Distributive Lag Model (NARDL) was employed to determine the asymmetric links. While the long-run co-integration was examined using the ARDL bound test, the short-run dynamics were tested using the error correction method (ECM).

The macroeconomic variables of the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment are found to pose significant short-run and long-run symmetric and asymmetric effects on IPO variability. These results indicate the significance of the aforementioned variables in enhancing IPO variability. The findings also demonstrate the typical reactions of inflation, GDP and FDI towards negative and positive shocks in IPO variability and inflation. This evidence implies that Pakistan's poor capital market development is reflected in the country's weak macroeconomic factors. At the same time, the reduced IPO variability in the country also reflects the lack of confidence among prospective issuers and investors due to Pakistan's weak macroeconomic indicators.

This is the first study of its kind to properly investigate the symmetric and asymmetric effects of the macroeconomic variables on Pakistan's IPO variability.