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Using a comprehensive sample from developed and emerging economies, this study aims to examine whether foreign institutional investors (FIIs) enhance the value of excess cash by constraining the potential self-appropriating managerial propensity related to its inefficient utilization.

This study uses a large panel data set of firms from 32 non-US countries from 2007 to 2018. Using data from COMPUSTAT Global and S&P Capital IQ, this study uses ordinary least squares regression with year- and firm-fixed effects for the baseline analysis. In addition, two-stage least squares with instrumental variable regression and propensity score matching approaches were used to address the potential endogeneity.

This study shows that FIIs significantly increase the value of excess cash holdings. The authors also found that the positive impact of FIIs is more significant when investors come from common-law countries with better governance and investor protection. Furthermore, in countries and firms with weaker governance controls, the relationship between FIIs and the value of excess cash is stronger, consistent with the institutional monitoring hypothesis. Collectively, the findings imply that FIIs are advantageous to investees because they effectively promote the efficient deployment of corporate resources.

Collectively, the findings of this study imply that FIIs are advantageous to investees because they effectively promote the efficient deployment of corporate resources.

This study offers new evidence on how FIIs impact the value of excess cash in an international setting. In addition, it highlights the significance of the legal origin of institutional investors’ home country and the governance quality of host countries and investee firms in influencing the effect of foreign institutional monitoring on the value of excess cash.

This study examines whether and how the legal origin of foreign institutional investors (FIIs) impacts corporate investment efficiency.

The study employs a large panel dataset of firms from 32 non-USA countries from 2005 to 2018. Financial and institutional ownership data are obtained from the COMPUSTAT Global and Public Ownership databases in S&P Capital IQ, respectively. The study employed ordinary least squares (OLS) regression with year and firm fixed effects. In addition, two-stage least squares with instrumental variable regression (2SLS-IV) and propensity score matching (PSM) approaches were employed to address the potential endogeneity.

The findings of this study suggest that common- and civil-law FIIs differ in their monitoring capabilities to promote investment efficiency. The authors find evidence that increased equity ownership by common-law FIIs, not civil-law investors, strengthens the investment-Q sensitivity, resulting in higher investment efficiency. Consistent with the monitoring and information channel, the results further indicate that the positive impact of common-law FIIs on investment efficiency is stronger in host environments susceptible to agency conflicts and information asymmetry.

This study offers novel evidence on the heterogeneous monitoring role of FIIs with regard to their home countries' legal origins and their impact on investment efficiency in an international context.

This paper focuses on the unconditionally optimal error estimates of a linearized second-order scheme for a nonlocal nonlinear parabolic problem. The first step of the scheme is based on Crank–Nicholson method while the second step is the second-order BDF method.

A rigorous error analysis is done, and optimal L² error estimates are derived using the error splitting technique. Some numerical simulations are presented to confirm the study’s theoretical analysis.

Optimal L² error estimates and energy norm.

The goal of this research article is to present and establish the unconditionally optimal error estimates of a linearized second-order BDF finite element scheme for the reaction-diffusion problem. An optimal error estimate for the proposed methods is derived by using the temporal-spatial error splitting techniques, which split the error between the exact solution and the numerical solution into two parts, that is, the temporal error and the spatial error. Since the spatial error is not dependent on the time step, the boundedness of the numerical solution in L∞-norm follows an inverse inequality immediately without any restriction on the grid mesh.

This paper aims to determine the effect of a set of factors (attitude toward entrepreneurship, perceived behavioral control or entrepreneurial self-efficacy, previous experience, internal locus of control and entrepreneurial alertness) on the entrepreneurial intentions of Chilean secondary vocational school students.

An online survey was sent to all secondary-level students from four Chilean vocational schools (3,052 students). A total of 1,644 valid questionnaires were received. The data were analyzed using partial least squares structural equation modeling (PLS-SEM).

The results show that attitude toward entrepreneurship and perceived behavioral control positively and significantly impact the students’ entrepreneurial intentions, but not the previous experience.

Since this research was carried out in a specific reality, the results may lack generalizability. Also, the proposed model requires further development through the incorporation of other factors. It is then suggested to replicate this study in other countries as well as to incorporate new variables and test new relationships.

Entrepreneurship education programs at the secondary level should emphasize changing/stimulating adolescents’ attitudes toward entrepreneurship as well as improving their confidence in their entrepreneurial abilities.

This is one of the few studies that provide empirical evidence about the determinants of entrepreneurial intentions in adolescents, particularly in Latin America, and with a large sample.

El propósito de este estudio es determinar el efecto de un conjunto de factores (actitud hacia el emprendimiento, control conductual percibido o autoeficacia emprendedora, experiencia previa, locus de control interno y alerta emprendedora) sobre las intenciones emprendedoras de estudiantes secundarios técnico-profesionales chilenos.

Una encuesta online fue enviada a todos los estudiantes de nivel secundario de cuatro escuelas técnico-profesionales chilenas (3,052 estudiantes). Se recibieron un total de 1,644 cuestionarios válidos. Los datos obtenidos fueron analizados a través de una técnica de modelización de ecuaciones estructurales (PLS-SEM).

Los resultados muestran que la actitud y el control conductual percibido impactan positiva y significativamente sobre las intenciones emprendedoras de los estudiantes, no así la experiencia previa.

Dado que esta investigación se llevó a cabo en una realidad específica, se debe ser cauteloso a la hora de generalizar sus resultados. Asimismo, el modelo propuesto requiere un mayor desarrollo a través de la incorporación de otras variables. Se sugiere entonces replicar este estudio en otros países, así como incorporar nuevas variables y someter a prueba nuevas relaciones.

Los programas de educación emprendedora en el nivel secundario debiesen poner énfasis en cambiar/estimular las actitudes hacia el emprendimiento de los adolescentes, así como en mejorar su confianza en sus propias habilidades emprendedoras.

Este es uno de los pocos estudios que aporta evidencia empírica acerca de los determinantes de las intenciones de emprender en adolescentes, particularmente en América Latina y con una muestra amplia.

The purpose of this study is, from the perspective of artisan entrepreneurship (AE), to understand how professional and higher education institutions, local authorities, local and cross-border cultural entities and tourism stakeholders perceive AE by collaborating in a network to develop innovative and sustainable strategies, using the Quintuple Helix innovation model.

Using a qualitative approach, 34 semi-structured interviews were carried out with organisations by emailing them a Google Form. The organisations interviewed were from the north-east of Portugal (Bragança, Miranda do Douro, Mogadouro, Vimioso and Vinhais) and the north of Spain (Zamora Province). The data collected was subjected to content and lexical analysis using the computerised lexical analysis software IRaMuTeQ.

AE is seen as the representation of a culture where traditional crafts are the identity of a region. The practical and political implications for decision makers in the Quintuple Helix can be seen in the definition of strategies and proposals that should leverage and define regional and cross-border policies, leveraging the need for networking to define concrete measures and programmes for support and training in entrepreneurship and AE, as well as the creation and/or standardisation of existing support networks.

To the best of the authors’ knowledge, this work is the first study to address and deal with the issue of AE by understanding how professional and higher education institutions, local authorities, local and cross-border cultural entities perceive AE and collaborate in a network to develop innovative and sustainable strategies, through the paradigm of the Quintuple Helix model. It also combines a content analysis and a lexical analysis using computerised lexical analysis software – IRaMuTeQ.

This research investigates the roles that resources, organisational structure and climate play in the performance management of National Sport Organisations (NSOs).

This qualitative study draws data from 31 interviews, five focus groups conducted amongst Botswana National Sport Organisations. To corroborate the data collected, documents from these sport organisations were content analysed.

The amount and type of resources available, the degree to which decision-making is centralised, practices formalised and roles specialised affects how NSOs implement performance management. NSOs were not implementing performance management systems and could not tell whether they were creating favourable environments to implement the practices.

Sport managers, policymakers and educators can use insights from this study to improve their practices. This study also proposes avenues for further research.

This study contributes to sport management literature on performance management, and it is original because such as study has not been conducted before.

Coopetition (simultaneous cooperation and competition of actors) is still a relatively new concept in business, management, and tourism. However, several coopetition studies have focused on tourism and tourism destinations. Also, compilation literature reviews of tourism and tourism destinations have been published (Rusko, 2018). This chapter focuses on underlying coopetition networks of tourism and specifically of tourism destinations. Because of the typical features of tourism destinations, multifaceted connections in competition and cooperation – and coopetition – are present in everyday business and activities among actors of the destination. These coopetitive relationships cover several levels, they are present in micro, meso, macro, and meta level interplay of tourism destination. Furthermore, the analysis shows that several studies about coopetitive networks in tourism destinations do not use terms “macro” or “meta” though these seem to be the main levels of the studies. This only reveals the fertile dimensions of coopetitive networks in tourism. These various relationships form coopetitive networks that represent several dimensions and levels of actors, competition, cooperation, and coopetition. This chapter introduces these multifaceted perspectives of coopetition networks, which have been described in the contemporary literature about tourism and tourism destination.

Having the right intent, aspiration, ability and attitude to become an entrepreneur has become the mantra in the extant literature to be driver of entrepreneurship and small and medium enterprise (SME) growth. Why would zealous and ambitious individuals with all rightful attributes so required of entrepreneurs have to fizzle out few years after venturing into business or SMEs? Perhaps these same individuals may relocate to other jurisdictions and would establish successful firms even beyond their imaginations. Beyond the individual’s entrepreneurial attributes, there are other external countervailing forces which either “enable” or “impede” entrepreneurial drive and SME growth processes. Adopting the theory of planned behavior, this study conceptualizes a systems framework to analyze how SMEs either flourish or fail in developing countries.

The study relies on secondary sources of data. It adopts a critical stage review of secondary data.

The study argues that the interplay of “internal factors” and “external factors” of prospective entrepreneurs provides a useful framework to explain the general SME outlook of an economy. The study postulates that many internally driven prospective SME entrants (with entrepreneurial attitudes, abilities and aspirations) mostly in the developing economies may have their dreams shattered because of obstructive external ecological elements which tend to frustrate new business entrants as well as existing ones.

With the aid of a framework, this study conceptualizes a comprehensive framework to analyze how SMEs either flourish or fail in developing countries.

Fused Filament Fabrication (FFF) is an extrusion-based manufacturing process using fused thermoplastics. Despite its low cost, the FFF is not extensively used in high-value industrial sectors mainly due to parts' anisotropy (related to the deposition strategy) and residual stresses (caused by successive heating cycles). Thus, this study aims to investigate the process improvement and the optimization of the printed parts.

In this work, a meshless technique – the Radial Point Interpolation Method (RPIM) – is used to numerically simulate the viscoplastic extrusion process – the initial phase of the FFF. Unlike the FEM, in meshless methods, there is no pre-established relationship between the nodes so the nodal mesh will not face mesh distortions and the discretization can easily be modified by adding or removing nodes from the initial nodal mesh. The accuracy of the obtained results highlights the importance of using meshless techniques in this field.

Meshless methods show particular relevance in this topic since the nodes can be distributed to match the layer-by-layer growing condition of the printing process.

Using the flow formulation combined with the heat transfer formulation presented here for the first time within an in-house RPIM code, an algorithm is proposed, implemented and validated for benchmark examples.