This study investigates whether regulating the stock pricing mechanism by adopting an agreed-upon efficient stock valuation model can enhance the stock market efficiency. The study involves a simulated stock market experiment with 65 traders who provide daily stock price predictions for a virtual company under unregulated and regulated scenarios. In the regulated scenario, traders agree on one of three valuation models to generate stock prices. Moreover, 20 evaluators acted as “Homo-Economicus” to determine a stock's fair value trend, serving as a benchmark to assess the information efficiency of the simulated market. The study finds that the NAPV-regulated market shows a strong linear relationship and high R-squared, indicating the highest level of information efficiency, while the DDM- and RIM-regulated markets show moderate correlations. The study suggests that modernizing the stock pricing mechanism, by regulating shareholders to mutually agree on one efficient stock valuation model to be used by the company to generate fair values alternative to market prices, could significantly enhance the stock market efficiency by focusing on fundamentals rather than irrational speculators. However, model choice matters, as NAPV explains more variation. The study suggests that appropriate regulation is crucial for realizing this potential. Although the results are promising, limitations like small evaluator samples, inability of models to always generate stock values, and trader biases should be considered. Future research with larger samples and more models could strengthen these insights.
{"title":"Modernizing the Stock Pricing Mechanism: An Effective Path to Improve the Stock Market Efficiency","authors":"Mohamad Hani Saad","doi":"10.5539/ibr.v16n9p1","DOIUrl":"https://doi.org/10.5539/ibr.v16n9p1","url":null,"abstract":"This study investigates whether regulating the stock pricing mechanism by adopting an agreed-upon efficient stock valuation model can enhance the stock market efficiency. The study involves a simulated stock market experiment with 65 traders who provide daily stock price predictions for a virtual company under unregulated and regulated scenarios. In the regulated scenario, traders agree on one of three valuation models to generate stock prices. Moreover, 20 evaluators acted as “Homo-Economicus” to determine a stock's fair value trend, serving as a benchmark to assess the information efficiency of the simulated market. The study finds that the NAPV-regulated market shows a strong linear relationship and high R-squared, indicating the highest level of information efficiency, while the DDM- and RIM-regulated markets show moderate correlations. The study suggests that modernizing the stock pricing mechanism, by regulating shareholders to mutually agree on one efficient stock valuation model to be used by the company to generate fair values alternative to market prices, could significantly enhance the stock market efficiency by focusing on fundamentals rather than irrational speculators. However, model choice matters, as NAPV explains more variation. The study suggests that appropriate regulation is crucial for realizing this potential. Although the results are promising, limitations like small evaluator samples, inability of models to always generate stock values, and trader biases should be considered. Future research with larger samples and more models could strengthen these insights.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"146 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75911603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study sets out to examine the effect on non-native speakers of utilizing English for business. Specifically, the study examines the effect of utilizing English on non-natives’ negotiation skills and marketing abilities, and the way in which fluency or vocabulary affects their bargaining power in international business. The effect of establishing English as the corporate standard is also explored. The study adopts a quasi-experimental research design to understand the effect on non-native speakers of utilizing English for business. The background information in the study covers the use of English in a business context, with specific emphasis on international corporations setting up branches in other countries. This section examines the ability of organizations to adopt English as a corporate standard and thus to exchange with international customers regardless of their cultural background. The literature review section provides an empirical and theoretical framework on how the use of English for business by non-native speakers affects business outcomes. The empirical literature review section provides practical insights, examples, and previous experiences on how the use of English affects non-native speakers compared to native speakers. The main objective of the empirical literature review is to understand the benefits, advantages, challenges, and disadvantages of the use of English for business for non-native English speakers. The theoretical literature review section gives details on theories of communication and their implications for the effect on non-native speakers of utilizing English for business. The theories included in the study are cognitive load theory, social learning theory, communication accommodation theory and cultural dimensions theory. The methodology section explains the method and techniques used in the study with respect to the design, data collection, and analysis. The study adopts a quasi-experimental research design to investigate the effect of two groups utilizing English for business. Both quantitative and qualitative analyses are used for the study results. The use of t-tests helps to compare the performance of the two groups and to understand the influence of an educational program to give training in English communication. Lastly, there is a discussion of the findings of the study with respect to the way in which the utilization of English for business by non-native speakers improves their global reach and the challenges and the benefits of using English. The study recommends qualitative research to establish the impact of training and educational programs on non-native speakers’ ability to speak and use the English language fluently in business, thus justifying the use of English as a corporate standard for international organizations.
{"title":"Effect on Non-Native English Speakers of Utilizing English for Business","authors":"Thanakit Ouanhlee","doi":"10.5539/ibr.v16n9p16","DOIUrl":"https://doi.org/10.5539/ibr.v16n9p16","url":null,"abstract":"This study sets out to examine the effect on non-native speakers of utilizing English for business. Specifically, the study examines the effect of utilizing English on non-natives’ negotiation skills and marketing abilities, and the way in which fluency or vocabulary affects their bargaining power in international business. The effect of establishing English as the corporate standard is also explored. The study adopts a quasi-experimental research design to understand the effect on non-native speakers of utilizing English for business. The background information in the study covers the use of English in a business context, with specific emphasis on international corporations setting up branches in other countries. This section examines the ability of organizations to adopt English as a corporate standard and thus to exchange with international customers regardless of their cultural background. The literature review section provides an empirical and theoretical framework on how the use of English for business by non-native speakers affects business outcomes. The empirical literature review section provides practical insights, examples, and previous experiences on how the use of English affects non-native speakers compared to native speakers. The main objective of the empirical literature review is to understand the benefits, advantages, challenges, and disadvantages of the use of English for business for non-native English speakers. The theoretical literature review section gives details on theories of communication and their implications for the effect on non-native speakers of utilizing English for business. The theories included in the study are cognitive load theory, social learning theory, communication accommodation theory and cultural dimensions theory. The methodology section explains the method and techniques used in the study with respect to the design, data collection, and analysis. The study adopts a quasi-experimental research design to investigate the effect of two groups utilizing English for business. Both quantitative and qualitative analyses are used for the study results. The use of t-tests helps to compare the performance of the two groups and to understand the influence of an educational program to give training in English communication. Lastly, there is a discussion of the findings of the study with respect to the way in which the utilization of English for business by non-native speakers improves their global reach and the challenges and the benefits of using English. The study recommends qualitative research to establish the impact of training and educational programs on non-native speakers’ ability to speak and use the English language fluently in business, thus justifying the use of English as a corporate standard for international organizations.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"169 1-4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83442790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article interests in exploring the role of adopting emotional intelligence (EI) in career decision making difficulties; meanwhile, discussing the examination of Bar-On Emotional Quotient inventory, and decision-making difficulties due to reviewing the literature and analyzing their discussions on both EI, and the three-career decision- making difficulties (lack of Readiness, Lack of Information, and Inconsistent Information). It shows the unique role of EI in career decision making difficulties, it offers new approaches toward finding new factors of EI in career decision making. Although, adopting EI has its significant role in decision- making but, still career decision making difficulties should be discussed more seriously in other cultures.
{"title":"Adopting Emotional Intelligence in Career Decision Making Difficulties","authors":"R. H. Abbood, Nagham H Al Nama’a","doi":"10.5539/ibr.v16n8p48","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p48","url":null,"abstract":"This article interests in exploring the role of adopting emotional intelligence (EI) in career decision making difficulties; meanwhile, discussing the examination of Bar-On Emotional Quotient inventory, and decision-making difficulties due to reviewing the literature and analyzing their discussions on both EI, and the three-career decision- making difficulties (lack of Readiness, Lack of Information, and Inconsistent Information). It shows the unique role of EI in career decision making difficulties, it offers new approaches toward finding new factors of EI in career decision making. Although, adopting EI has its significant role in decision- making but, still career decision making difficulties should be discussed more seriously in other cultures.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"44 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84009987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides an insight into measuring financial inclusion through a multidimensional index of financial inclusion in Southeast European countries (SEE). We used a two-stage principal component analysis to extract dimensions of financial inclusion. Data were obtained from two sources, the World Bank Global Findex Survey (WB-GFS) data base and the International Monetary Fund Financial Access Survey data (IMF-FAS), for twelve SEE countries for the years 2011, 2014, 2017, and 2021. The research confirms that financial inclusion can be measured using two dimensions in terms of access as one factor and usage and availability as the second factor. Practical implications of this research are in ensuring an adequate measure of the level of financial inclusion for SEE countries that can be used for further research related to understanding the underlying factors contributing to financial inclusion, barriers to financial inclusion as well as the impact of financial inclusion on economic growth and poverty alleviation.
{"title":"Measuring Financial Inclusion in Southeast European Countries Using Multidimensional Index of Financial Inclusion","authors":"Vesna Vesna Zukić, Meldina Kokorović Jukan","doi":"10.5539/ibr.v16n8p39","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p39","url":null,"abstract":"This paper provides an insight into measuring financial inclusion through a multidimensional index of financial inclusion in Southeast European countries (SEE). We used a two-stage principal component analysis to extract dimensions of financial inclusion. Data were obtained from two sources, the World Bank Global Findex Survey (WB-GFS) data base and the International Monetary Fund Financial Access Survey data (IMF-FAS), for twelve SEE countries for the years 2011, 2014, 2017, and 2021. The research confirms that financial inclusion can be measured using two dimensions in terms of access as one factor and usage and availability as the second factor. Practical implications of this research are in ensuring an adequate measure of the level of financial inclusion for SEE countries that can be used for further research related to understanding the underlying factors contributing to financial inclusion, barriers to financial inclusion as well as the impact of financial inclusion on economic growth and poverty alleviation.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75451099","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Reviewer Acknowledgements for International Business Research, Vol. 16, No. 8, 2023
《国际商业研究》，Vol. 16, No. 8, 2023
{"title":"Reviewer Acknowledgements for International Business Research, Vol. 16, No. 8","authors":"Kevin Duran","doi":"10.5539/ibr.v16n8p55","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p55","url":null,"abstract":"Reviewer Acknowledgements for International Business Research, Vol. 16, No. 8, 2023","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135520104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the relationship between the information content of newspaper-based Economic Policy Uncertainty (EPU) and the Economist Intelligence Unit (EIU) country report-based World Uncertainty (WUI) indices in relation to U.S. economic growth. Using data from 1990 to 2022 and incorporating a number of variables known to predict economic growth, our findings demonstrate the following: i) Based on different measures of WUI, whether U.S.-specific or global, and under various model specifications, we find that WUI is an important measure of uncertainty that negatively impacts real GDP growth. ii) EPU consistently exhibits a counterintuitive positive relationship with economic growth. iii) Variables such as corporate credit spreads and oil prices show a robust negative relationship with real GDP growth, while stock market returns are positively and robustly related to economic growth, underlying the importance of prices of financial assets and commodities for gauging the health of the economy.
{"title":"Economic Policy Uncertainty, World Uncertainty, and Economic Growth: Evidence from a Bayesian Vector Autoregression Analysis","authors":"Ujjal Chatterjee","doi":"10.5539/ibr.v16n8p28","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p28","url":null,"abstract":"This paper examines the relationship between the information content of newspaper-based Economic Policy Uncertainty (EPU) and the Economist Intelligence Unit (EIU) country report-based World Uncertainty (WUI) indices in relation to U.S. economic growth. Using data from 1990 to 2022 and incorporating a number of variables known to predict economic growth, our findings demonstrate the following: i) Based on different measures of WUI, whether U.S.-specific or global, and under various model specifications, we find that WUI is an important measure of uncertainty that negatively impacts real GDP growth. ii) EPU consistently exhibits a counterintuitive positive relationship with economic growth. iii) Variables such as corporate credit spreads and oil prices show a robust negative relationship with real GDP growth, while stock market returns are positively and robustly related to economic growth, underlying the importance of prices of financial assets and commodities for gauging the health of the economy.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"107 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79448700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In recent years, a global surge in mobile application adoption has led to the development of innovative digital solutions spanning multiple domains. The Tawakkalna application, particularly significant during periods of curfew, is one such innovation, offering manifold benefits that support users in their daily activities. This study aims to investigate the determinants influencing the continuous usage intention of Tawakkalna app users within the theoretical framework of the Technology Acceptance Model (TAM). A purposive sample of 320 users of the Tawakkalna app was employed for the study. The data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings indicate that the simplicity of the application's features emerged as a pivotal determinant of the users' intention to persistently use and endorse the app. Moreover, the research highlights that application simplicity influences user intention through two key mechanisms - Perceived Ease-to-Use and Perceived Usefulness. These insights offer valuable guidance to developers and stakeholders, underscoring the need to prioritize user-friendly design and utility in the iterative development of mobile applications to ensure sustained user engagement and recommendation.
{"title":"An Empirical Examination of Factors Influencing the Intention to Use Tawakkalna App","authors":"Abdullah S. Alsabban, Ahmed H. Najmi","doi":"10.5539/ibr.v16n8p1","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p1","url":null,"abstract":"In recent years, a global surge in mobile application adoption has led to the development of innovative digital solutions spanning multiple domains. The Tawakkalna application, particularly significant during periods of curfew, is one such innovation, offering manifold benefits that support users in their daily activities. This study aims to investigate the determinants influencing the continuous usage intention of Tawakkalna app users within the theoretical framework of the Technology Acceptance Model (TAM). A purposive sample of 320 users of the Tawakkalna app was employed for the study. The data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings indicate that the simplicity of the application's features emerged as a pivotal determinant of the users' intention to persistently use and endorse the app. Moreover, the research highlights that application simplicity influences user intention through two key mechanisms - Perceived Ease-to-Use and Perceived Usefulness. These insights offer valuable guidance to developers and stakeholders, underscoring the need to prioritize user-friendly design and utility in the iterative development of mobile applications to ensure sustained user engagement and recommendation.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80323112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The preferences of the study related to Saudi customers regarding personalized advertisements have not been investigated, since the rapid penetration of social media marketing among consumers. So the present study aims to determine the attitudes of consumers related to the personalized advertisement. An online questionnaire was used for collecting data from 512 Saudi consumers, who were active on social media. The questionnaire items were developed based on the previous literature and the collected data was analyzed through structural equation modelling and path analysis. The results showed that credibility (0.244, p < 0.001) and lack of irritation (0.536, p < 0.001) significantly impact the preferences of the consumer regarding personalized advertisements. An increase in credibility and lack of irritation is likely to improve the preference of consumers. Moreover, informativeness (0.571, p < 0.001) and entertainment (0.493, p < 0.001) positively influence the preferences of the consumer regarding personalized advertisements. The study holds significant importance as the first study in Saudi Arabia investigating the attitudes of consumers regarding personalized advertisements on social media in penetration, and it deals with the elements closely related to personalizing advertisements. This will help expand the theory about the attitudes of consumers regarding personalized advertisements that replace the traditional way of advertising. Practically, this study provides guidelines about following personalized advertisements on social media sites for marketers.
{"title":"Craving towards a Personalized Advertisement: Identifying Preferences and Attitudes of Saudi Consumers toward Its Effectiveness","authors":"N. Salamah","doi":"10.5539/ibr.v16n8p16","DOIUrl":"https://doi.org/10.5539/ibr.v16n8p16","url":null,"abstract":"The preferences of the study related to Saudi customers regarding personalized advertisements have not been investigated, since the rapid penetration of social media marketing among consumers. So the present study aims to determine the attitudes of consumers related to the personalized advertisement. An online questionnaire was used for collecting data from 512 Saudi consumers, who were active on social media. The questionnaire items were developed based on the previous literature and the collected data was analyzed through structural equation modelling and path analysis. The results showed that credibility (0.244, p < 0.001) and lack of irritation (0.536, p < 0.001) significantly impact the preferences of the consumer regarding personalized advertisements. An increase in credibility and lack of irritation is likely to improve the preference of consumers. Moreover, informativeness (0.571, p < 0.001) and entertainment (0.493, p < 0.001) positively influence the preferences of the consumer regarding personalized advertisements. The study holds significant importance as the first study in Saudi Arabia investigating the attitudes of consumers regarding personalized advertisements on social media in penetration, and it deals with the elements closely related to personalizing advertisements. This will help expand the theory about the attitudes of consumers regarding personalized advertisements that replace the traditional way of advertising. Practically, this study provides guidelines about following personalized advertisements on social media sites for marketers.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74470835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research aims to analyze and explain the importance of diversification benefit of cryptocurrencies and its nature in accordance with its relation with other financial assets before and especially during the Covid-19 pandemic era. This paper will help investors to understand that how to manage a portfolio of cryptocurrencies in parallel with other financial assets and mainly cryptocurrencies since they were a safe investment option during the pandemic period due to the good defense these digital currencies activated against the covid-19 shock back in 2020. Paper used DCC-GARCH model to examine the safety of Bitcoin and Ethereum with financial market of S & P 500 and FTSE100.
{"title":"Cryptocurrencies as a safe tool for portfolio before and during COVID-19 pandemic: cases of Bitcoin and Ethereum","authors":"Ghanem Shamseen, Salavat Sayfullin, Metin Mercan","doi":"10.31578/job.v12i1.233","DOIUrl":"https://doi.org/10.31578/job.v12i1.233","url":null,"abstract":"This research aims to analyze and explain the importance of diversification benefit of cryptocurrencies and its nature in accordance with its relation with other financial assets before and especially during the Covid-19 pandemic era. This paper will help investors to understand that how to manage a portfolio of cryptocurrencies in parallel with other financial assets and mainly cryptocurrencies since they were a safe investment option during the pandemic period due to the good defense these digital currencies activated against the covid-19 shock back in 2020. Paper used DCC-GARCH model to examine the safety of Bitcoin and Ethereum with financial market of S & P 500 and FTSE100.","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"146 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135359675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose Although founders are often replaced with external CEOs prior to firms making IPOs, firms that do retain founder CEOs generally perform better at IPO. However, this relationship may be contingent upon context. This study aims to investigate how national context influences the relationship between a founder CEO and IPO long-run performance. The authors hypothesize that founder-CEOs will perform better in IPO firms in countries where managerial discretion, future orientation, and the level of conformity to professionalize management are high, and uncertainty avoidance is low. Design/methodology/approach Using insights from the upper echelon and institutional theory, the authors used hierarchical linear modeling to analyze over 1,000 firms across eight countries. Findings Founder CEOs perform best in IPO firms in a national context where managerial discretion is low, uncertainty avoidance is high and the level of conformity is high. Originality/value This study contributes to a growing area of cross-national IPO research in management by investigating the relationship between culture, management and IPO performance.
{"title":"The Role of National Context in the Relationship Between Founder CEO and IPO Performance","authors":"C. Tupper, Anju Mehta","doi":"10.2139/ssrn.3890574","DOIUrl":"https://doi.org/10.2139/ssrn.3890574","url":null,"abstract":"\u0000Purpose\u0000Although founders are often replaced with external CEOs prior to firms making IPOs, firms that do retain founder CEOs generally perform better at IPO. However, this relationship may be contingent upon context. This study aims to investigate how national context influences the relationship between a founder CEO and IPO long-run performance. The authors hypothesize that founder-CEOs will perform better in IPO firms in countries where managerial discretion, future orientation, and the level of conformity to professionalize management are high, and uncertainty avoidance is low.\u0000\u0000\u0000Design/methodology/approach\u0000Using insights from the upper echelon and institutional theory, the authors used hierarchical linear modeling to analyze over 1,000 firms across eight countries.\u0000\u0000\u0000Findings\u0000Founder CEOs perform best in IPO firms in a national context where managerial discretion is low, uncertainty avoidance is high and the level of conformity is high.\u0000\u0000\u0000Originality/value\u0000This study contributes to a growing area of cross-national IPO research in management by investigating the relationship between culture, management and IPO performance.\u0000","PeriodicalId":13861,"journal":{"name":"International journal of business research","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81358359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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