This paper reexamines the additive effect of the transformational leadership model to refine the perception of the transformational leadership theory. It concludes that transformational leadership does not produce a total effect the same as the sum of the effects of the four I’s. It argues that the additive effect of transformational leadership is a myth and that the four I’s do not have an additive influence. Therefore, researchers should not introduce the four I’s as a legitimate model of transformational leadership. For future research, this paper highlights the need for a new theory that justifies transformational, transactional, and laissez-faire leadership styles with conceptual clarity. Keywords: Additive Effect, Transformational Leadership, Four I’s, Myth, Conceptual Clarity To cite this document: Massad Awdah Alatawi, "The Myth of the Additive Effect of The Transformational Leadership Model", Contemporary Management Research, Vol.13, No.1, pp. 19-30, 2017. Permanent link to this document: http://dx.doi.org/10.7903/cmr.16269
{"title":"The Myth of the Additive Effect of The Transformational Leadership Model","authors":"M. A. Alatawi","doi":"10.7903/CMR.16269","DOIUrl":"https://doi.org/10.7903/CMR.16269","url":null,"abstract":"This paper reexamines the additive effect of the transformational leadership model to refine the perception of the transformational leadership theory. It concludes that transformational leadership does not produce a total effect the same as the sum of the effects of the four I’s. It argues that the additive effect of transformational leadership is a myth and that the four I’s do not have an additive influence. Therefore, researchers should not introduce the four I’s as a legitimate model of transformational leadership. For future research, this paper highlights the need for a new theory that justifies transformational, transactional, and laissez-faire leadership styles with conceptual clarity. \u0000 \u0000 \u0000Keywords: Additive Effect, Transformational Leadership, Four I’s, Myth, Conceptual Clarity \u0000 \u0000 \u0000To cite this document: Massad Awdah Alatawi, \"The Myth of the Additive Effect of The Transformational Leadership Model\", Contemporary Management Research, Vol.13, No.1, pp. 19-30, 2017. \u0000 \u0000Permanent link to this document: \u0000 \u0000http://dx.doi.org/10.7903/cmr.16269","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2017-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43040595","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 aim of this paper was to review the research on corporate social responsibility (CSR) in connection with business closures and downsizing to identify gaps in our knowledge. The study consisted ...
{"title":"Corporate Social Responsibility in Connection with Business Closures and Downsizing : A Literature Review","authors":"Roland Ahlstrand, A. Rydell","doi":"10.7903/CMR.17291","DOIUrl":"https://doi.org/10.7903/CMR.17291","url":null,"abstract":"The aim of this paper was to review the research on corporate social responsibility (CSR) in connection with business closures and downsizing to identify gaps in our knowledge. The study consisted ...","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"13 1","pages":"53-78"},"PeriodicalIF":0.0,"publicationDate":"2017-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45131724","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 aims to provide new insights into how the financial and operational information relate to the market valuation of both independent and integrated oil companies. Hence, the study examines the value drivers for value creation in oil firms. Specifically, it explores the effect of investment, financing, and dividend decisions on value creation in oil-based energy firms. It is important to identify factors for value creation in stock market to design effective policies for wealth creation. The study was based on 82 oil and energy firms selected based on average asset sizes and revenues during the 2009-2013 period. PLS SEM methodology was used to analyze the effect of various exogenous latent variables on the endogenous latent constructs of profitability and value creation. Higher earning potential was associated with greater value creation for oil firms. Markets view high capital investments by oil companies positively, as these investments represent value creation for oil and gas firms. Higher cash flows lead to greater value creation for energy firms, and they might lead to greater profitability and hence greater value creation. Dividend policy of oil and gas firms also determines the valuation of oil firms. Higher dividend payout enhances the value of oil and gas firms. Profitability determines value creation in oil and gas firms. The study did not find statistically significant differences between integrated and independent companies or between privatized national companies and private national companies in value creation among oil firms. Keywords: Valuation, Investment Policy, Financing Decisions, Market Valuation, PLS, SEM To cite this document: Rajesh Kumar and Sujit K Sukumaran, "Value drivers in Oil Companies: An Application of Variance Based Structure Equation Model", Contemporary Management Research, Vol.13, No.1, pp. 31-52, 2017. Permanent link to this document: http://dx.doi.org/10.7903/cmr.16165
本研究旨在为独立和综合石油公司的财务和运营信息与市场估值之间的关系提供新的见解。因此,本研究考察了石油公司价值创造的价值驱动因素。具体而言,它探讨了投资、融资和股息决策对石油能源公司价值创造的影响。识别股票市场的价值创造因素对于制定有效的财富创造政策具有重要意义。该研究基于2009-2013年期间根据平均资产规模和收入选择的82家石油和能源公司。采用PLS SEM方法分析了各种外生潜在变量对盈利能力和价值创造内生潜在结构的影响。对于石油公司来说,更高的盈利潜力与更大的价值创造有关。市场积极看待石油公司的高资本投资,因为这些投资代表了石油和天然气公司的价值创造。较高的现金流为能源公司带来更大的价值创造,它们可能带来更高的盈利能力,从而带来更大的价值创造。油气公司的股利政策也决定着油气公司的估值。更高的股息支付提高了石油和天然气公司的价值。盈利能力决定了油气公司的价值创造。该研究没有发现在石油公司中,在价值创造方面,综合公司与独立公司或私有化国家公司与私营国家公司之间存在统计学上的显著差异。引用本文:Rajesh Kumar和Sujit K Sukumaran,“石油公司的价值驱动因素:基于方差的结构方程模型的应用”,当代管理研究,第13卷,第1期,第31-52页,2017。此文档的永久链接:http://dx.doi.org/10.7903/cmr.16165
{"title":"Value drivers in Oil Companies: An Application of Variance Based Structure Equation Model","authors":"Rajesh Kumar, S. Sukumaran","doi":"10.7903/CMR.16165","DOIUrl":"https://doi.org/10.7903/CMR.16165","url":null,"abstract":"This study aims to provide new insights into how the financial and operational information relate to the market valuation of both independent and integrated oil companies. Hence, the study examines the value drivers for value creation in oil firms. Specifically, it explores the effect of investment, financing, and dividend decisions on value creation in oil-based energy firms. It is important to identify factors for value creation in stock market to design effective policies for wealth creation. The study was based on 82 oil and energy firms selected based on average asset sizes and revenues during the 2009-2013 period. PLS SEM methodology was used to analyze the effect of various exogenous latent variables on the endogenous latent constructs of profitability and value creation. \u0000Higher earning potential was associated with greater value creation for oil firms. Markets view high capital investments by oil companies positively, as these investments represent value creation for oil and gas firms. Higher cash flows lead to greater value creation for energy firms, and they might lead to greater profitability and hence greater value creation. Dividend policy of oil and gas firms also determines the valuation of oil firms. Higher dividend payout enhances the value of oil and gas firms. Profitability determines value creation in oil and gas firms. \u0000The study did not find statistically significant differences between integrated and independent companies or between privatized national companies and private national companies in value creation among oil firms. \u0000 \u0000Keywords: Valuation, Investment Policy, Financing Decisions, Market Valuation, PLS, SEM \u0000 \u0000To cite this document: Rajesh Kumar and Sujit K Sukumaran, \"Value drivers in Oil Companies: An Application of Variance Based Structure Equation Model\", Contemporary Management Research, Vol.13, No.1, pp. 31-52, 2017. \u0000 \u0000Permanent link to this document: \u0000http://dx.doi.org/10.7903/cmr.16165","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2017-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47106287","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}
ABSTRACT As global migration continues to define and reshape nations, immigrant entrepreneurs have begun to be increasingly focused. Immigrant entrepreneurs are individuals who set up and run businesses outside their home countries. Little is known about their involvement in small business, as discussions on their business issues, business success, and business prospects in the host countries are not readily available. The extent to which business issues affect immigrant entrepreneurs’ business success and hence their business prospects has not been researched much. The purpose of this research is to assess the mediating effects of business success on the relationship between business issues and business prospects of immigrant entrepreneurs in Malaysia. A quantitative method was used to investigate 316 immigrant entrepreneurs in small retail enterprises in Kuala Lumpur, Malaysia. The findings showed that immigrant entrepreneurs are well prepared for business and have sufficient experience before initiating a business. The analysis of structural paths showed a significant indirect effect of the business success on the relationship between business issues and business prospects. A significant positive direct effect on the business issues and business prospects also emerged. The findings indicated that immigrant entrepreneurs and their business activities can be a source of employment generation and future impetus for economic growth. The study concluded relevant development authorities in Malaysia should integrate necessary supports for immigrant entrepreneurs into the mainstream entrepreneurial development programs. Keywords: Immigrant Entrepreneurship, Business Success and Business Prospects To cite this document: Pieter Nel and Moha Asri Abdullah, "Mediating Effects of Business Success on The Relation between Business Issues and Business Prospects Amongst Immigrant Entrepreneurs in Malaysia", Contemporary Management Research, Vol.13, No.1, pp. 3-18, 2017. Permanent link to this document: http://dx.doi.org/10.7903/cmr.16380
{"title":"Mediating effects of business success on the relation between business issues and business prospects amongst immigrant entrepreneurs in Malaysia.","authors":"P. Nel, M. Abdullah","doi":"10.7903/CMR.16380","DOIUrl":"https://doi.org/10.7903/CMR.16380","url":null,"abstract":"ABSTRACT \u0000As global migration continues to define and reshape nations, immigrant entrepreneurs have begun to be increasingly focused. Immigrant entrepreneurs are individuals who set up and run businesses outside their home countries. Little is known about their involvement in small business, as discussions on their business issues, business success, and business prospects in the host countries are not readily available. The extent to which business issues affect immigrant entrepreneurs’ business success and hence their business prospects has not been researched much. The purpose of this research is to assess the mediating effects of business success on the relationship between business issues and business prospects of immigrant entrepreneurs in Malaysia. A quantitative method was used to investigate 316 immigrant entrepreneurs in small retail enterprises in Kuala Lumpur, Malaysia. The findings showed that immigrant entrepreneurs are well prepared for business and have sufficient experience before initiating a business. The analysis of structural paths showed a significant indirect effect of the business success on the relationship between business issues and business prospects. A significant positive direct effect on the business issues and business prospects also emerged. The findings indicated that immigrant entrepreneurs and their business activities can be a source of employment generation and future impetus for economic growth. The study concluded relevant development authorities in Malaysia should integrate necessary supports for immigrant entrepreneurs into the mainstream entrepreneurial development programs. \u0000 \u0000Keywords: Immigrant Entrepreneurship, Business Success and Business Prospects \u0000 \u0000To cite this document: Pieter Nel and Moha Asri Abdullah, \"Mediating Effects of Business Success on The Relation between Business Issues and Business Prospects Amongst Immigrant Entrepreneurs in Malaysia\", Contemporary Management Research, Vol.13, No.1, pp. 3-18, 2017. \u0000 \u0000Permanent link to this document: \u0000http://dx.doi.org/10.7903/cmr.16380","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2017-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44044811","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}
INTRODUCTIONFamily owned businesses play a significant role in the global economy yet face major challenges in trying to succeed and survive generational transition (Brenes, Madriga, & Molina-Navaro, 2006; Chrisman, Sharma, & Taggar, 2007). A family business is defined as a business "that will be passed on for the family's next generation to manage and control" (Ward, 1987). Previous studies on family firms have focused on succession planning (Handler 1994; Sharma et al., 2003) and conflict among family members in the business (Handler 1994). Although the literature on family business is often subsumed and overlaps with the literature on small and medium enterprises (Getz & Carlsen, 2000), family businesses are unique entities and have been described as a complicated phenomenon (Lindsay & Craig, 2002). Family businesses are distinguished from non-family businesses in that their pattern of ownership, governance, management and succession affect the business structure, goals and strategies (Chua et al., 1999). Family and lifestyle aims often influence the objectives of family businesses without prioritizing the maximization of the profit (Peters & Buhalis, 2004). Family business owners are forced to balance business objectives with family interests (Getz & Carlsen, 2005). Consequently, family business owners become more risk averse and reluctant to accept investors from outside the family (Gallo et al., 2004). Empirical evidence from around the world suggests that a family owned business structure has advantages. For example, in a study of 100 family and 75 non-family businesses in Chile, family businesses outperformed their non-family counterparts when measured over a 10-year period (Martinez et al., 2007). In addition, Peters and Buhalis (2004) explored the management behaviors of 156 small family-owned hotel businesses in Austria and reported that family members working in a family business had higher motivation to work and that products and services offered by a family business were more personalized to the customer. More significantly, family businesses have familial assets and lower agency costs that can give the business a distinct advantage (Dyer, 2006). However, running the family business can put a lot of strain on the entrepreneur and the family (Mendonsa, 1983); in other words, family business owners' capability to successfully run the business and succeed at the challenges associated with being an entrepreneur can have a varying effect on performance.In this study, we draw on theories from corporate social responsibility, entrepreneurship and human capital to examine a structural model of family business strategies and performance. Family firms display distinctive socially responsible behaviors due to family firm's relationship with its local community (Niehm et al., 2008). Specifically, the family business owners' attitudes towards the community and their perception of the role of business in the community drive the strategies of the
家族企业在全球经济中发挥着重要作用,但在试图成功和生存代际过渡方面面临重大挑战(Brenes, Madriga, & Molina-Navaro, 2006;Chrisman, Sharma, & Taggar, 2007)。家族企业被定义为“将由家族下一代管理和控制”的企业(Ward, 1987)。以前对家族企业的研究主要集中在继任计划上(Handler 1994;Sharma et al., 2003)和企业中家庭成员之间的冲突(Handler 1994)。虽然关于家族企业的文献经常与关于中小企业的文献(Getz & Carlsen, 2000)重叠,但家族企业是独特的实体,被描述为一种复杂的现象(Lindsay & Craig, 2002)。家族企业与非家族企业的区别在于,家族企业的所有权、治理、管理和继承模式影响着企业结构、目标和战略(Chua et al., 1999)。家庭和生活方式的目标往往会影响家族企业的目标,而不会优先考虑利润最大化(Peters & Buhalis, 2004)。家族企业主被迫平衡企业目标与家族利益(Getz & Carlsen, 2005)。因此,家族企业所有者变得更加厌恶风险,不愿意接受来自家族以外的投资者(Gallo et al., 2004)。来自世界各地的经验证据表明,家族企业结构具有优势。例如,在一项针对智利100家家族企业和75家非家族企业的研究中,在10年的时间里,家族企业的表现优于非家族企业(Martinez et al., 2007)。此外,Peters和Buhalis(2004)对奥地利156家小型家族酒店企业的管理行为进行了研究,发现在家族企业工作的家庭成员有更高的工作动机,并且家族企业提供的产品和服务对顾客更加个性化。更重要的是,家族企业拥有家族资产和较低的代理成本,这可以给企业带来明显的优势(Dyer, 2006)。然而,经营家族企业会给企业家和家族带来很大的压力(Mendonsa, 1983);换句话说,家族企业主成功经营企业的能力,以及成功应对与企业家相关的挑战的能力,会对业绩产生不同的影响。在本研究中,我们借鉴了企业社会责任、企业家精神和人力资本的理论来检验家族企业战略和绩效的结构模型。由于家族企业与当地社区的关系,家族企业表现出独特的社会责任行为(Niehm et al., 2008)。具体来说,家族企业主对社区的态度以及他们对企业在社区中的作用的看法推动了企业的战略和决策(Niehm et al., 2008)。此外,对社区的承诺是企业社会责任的第一个也是最重要的方面,体现了企业与社区之间的相互关系,这是基于不断努力支持社区的公共利益和提高企业的可持续性(Niehm et al., 2008)。在本研究中,我们考察了家族企业所有者的创业经历(EE)对企业社会责任的影响程度,特别关注对社区活动的支持以及家族企业绩效。此外,我们在两个不同行业的家族企业背景下考察了这些关系,即基于产品的组织与基于服务的组织。在此过程中,我们推进了家族企业创业的知识体系和家族企业绩效的先决条件。这项研究的数据是从黎巴嫩的企业中收集的,这个国家有4个。…
{"title":"Entrepreneurial Experience, Support for Community and Family Firm Performance: A Cross-Study of Product and Service-based Family Businesses","authors":"Josiane Fahed Sreih, G. Assaker, Rob Hallak","doi":"10.7903/CMR.15360","DOIUrl":"https://doi.org/10.7903/CMR.15360","url":null,"abstract":"INTRODUCTIONFamily owned businesses play a significant role in the global economy yet face major challenges in trying to succeed and survive generational transition (Brenes, Madriga, & Molina-Navaro, 2006; Chrisman, Sharma, & Taggar, 2007). A family business is defined as a business \"that will be passed on for the family's next generation to manage and control\" (Ward, 1987). Previous studies on family firms have focused on succession planning (Handler 1994; Sharma et al., 2003) and conflict among family members in the business (Handler 1994). Although the literature on family business is often subsumed and overlaps with the literature on small and medium enterprises (Getz & Carlsen, 2000), family businesses are unique entities and have been described as a complicated phenomenon (Lindsay & Craig, 2002). Family businesses are distinguished from non-family businesses in that their pattern of ownership, governance, management and succession affect the business structure, goals and strategies (Chua et al., 1999). Family and lifestyle aims often influence the objectives of family businesses without prioritizing the maximization of the profit (Peters & Buhalis, 2004). Family business owners are forced to balance business objectives with family interests (Getz & Carlsen, 2005). Consequently, family business owners become more risk averse and reluctant to accept investors from outside the family (Gallo et al., 2004). Empirical evidence from around the world suggests that a family owned business structure has advantages. For example, in a study of 100 family and 75 non-family businesses in Chile, family businesses outperformed their non-family counterparts when measured over a 10-year period (Martinez et al., 2007). In addition, Peters and Buhalis (2004) explored the management behaviors of 156 small family-owned hotel businesses in Austria and reported that family members working in a family business had higher motivation to work and that products and services offered by a family business were more personalized to the customer. More significantly, family businesses have familial assets and lower agency costs that can give the business a distinct advantage (Dyer, 2006). However, running the family business can put a lot of strain on the entrepreneur and the family (Mendonsa, 1983); in other words, family business owners' capability to successfully run the business and succeed at the challenges associated with being an entrepreneur can have a varying effect on performance.In this study, we draw on theories from corporate social responsibility, entrepreneurship and human capital to examine a structural model of family business strategies and performance. Family firms display distinctive socially responsible behaviors due to family firm's relationship with its local community (Niehm et al., 2008). Specifically, the family business owners' attitudes towards the community and their perception of the role of business in the community drive the strategies of the ","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"467"},"PeriodicalIF":0.0,"publicationDate":"2016-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71361318","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}
INTRODUCTIONFestivals and events are among the fastest-growing segments of tourism in the world (Goeldner, Richie & McIntosh, 2000). Since the Grahamstown National Arts Festival in 1974, the first national arts festival in South Africa (Saayman & Saayman, 2006; Snowball & Webb, 2008), the country has experienced an unexpected growth in festivals. However, this growth only came after 1994, ironically enough when the government cut budgets for arts due to a greater focus on the provision of housing, education, and health services to the less fortunate citizens in the country (Belfiore & Bennett, 2007; Dobson & West, 1990; Hendon, 1990; Morrison & West, 1986; Reiss, 2001; Saayman & Saayman, 2006). Consequently, entrepreneurs and the private sector had to fill the void, with the result being that more art festivals were launched.One such festival is the Aardklop National Arts Festival (also referred to as "Aardklop"), which celebrated its sixteenth birthday in October 2013 (Botha, Viviers & Slabbert, 2012; Saayman & Saayman, 2006). This festival provides a quality platform for the promotion of the arts and supports the artist community while enriching the local society (Lee, Liu, Chung & Ho, 2015). Furthermore, Saayman, Douglas and De Klerk (2008) mentioned that Aardklop incorporates theatre, dance, music, cabaret and visual arts during a week-long programme at different venues in Potchefstroom. The focus of this study is the visual art exhibitions held at three different venues-namely, the North-West University's Botanical Garden, Sanlam Auditorium and Gallery. During Aardklop, these venues are used to display the art of up-and-coming artists as well as artists with a reputable status. According to Boll (2009), art galleries support and promote young artists by helping them develop and arrange exhibitions that attract collectors and buyers; art galleries are thus the intermediary or link to the art market. The number of people visiting festivals such as Aardklop (specifically, art galleries and exhibitions at festivals) is still on the increase (Higgs, Polonsky & Hollick, 2005; Slater, 2007). Most of the arts festivals in South Africa are younger than 15 years, but with this growth came a boom in visual arts and competition amongst art galleries, which has resulted in art organisations mirroring a business-like approach that emphasises revenue production, marketing and promotion (Higgs et al., 2005). Artists and arts organisations need an audience, and one of the main tasks of management is to build this audience (Boorsma, 1998). Rogoff, Lee and Suh (2004) further mentioned that internal and external factors are determinants of business success, including factors that are beyond the control of the manager. Management must therefore shift from an art-centred business to a more client-focused enterprise (Shaw, 2002). Introducing collaborative and effective marketing models (product promotion, market accessibility and networking) can thus lead to the d
{"title":"Is There More to A Visual Art Exhibition Than Just Art","authors":"B. Manners, Hanneri Borstlap, M. Saayman","doi":"10.7903/CMR.14019","DOIUrl":"https://doi.org/10.7903/CMR.14019","url":null,"abstract":"INTRODUCTIONFestivals and events are among the fastest-growing segments of tourism in the world (Goeldner, Richie & McIntosh, 2000). Since the Grahamstown National Arts Festival in 1974, the first national arts festival in South Africa (Saayman & Saayman, 2006; Snowball & Webb, 2008), the country has experienced an unexpected growth in festivals. However, this growth only came after 1994, ironically enough when the government cut budgets for arts due to a greater focus on the provision of housing, education, and health services to the less fortunate citizens in the country (Belfiore & Bennett, 2007; Dobson & West, 1990; Hendon, 1990; Morrison & West, 1986; Reiss, 2001; Saayman & Saayman, 2006). Consequently, entrepreneurs and the private sector had to fill the void, with the result being that more art festivals were launched.One such festival is the Aardklop National Arts Festival (also referred to as \"Aardklop\"), which celebrated its sixteenth birthday in October 2013 (Botha, Viviers & Slabbert, 2012; Saayman & Saayman, 2006). This festival provides a quality platform for the promotion of the arts and supports the artist community while enriching the local society (Lee, Liu, Chung & Ho, 2015). Furthermore, Saayman, Douglas and De Klerk (2008) mentioned that Aardklop incorporates theatre, dance, music, cabaret and visual arts during a week-long programme at different venues in Potchefstroom. The focus of this study is the visual art exhibitions held at three different venues-namely, the North-West University's Botanical Garden, Sanlam Auditorium and Gallery. During Aardklop, these venues are used to display the art of up-and-coming artists as well as artists with a reputable status. According to Boll (2009), art galleries support and promote young artists by helping them develop and arrange exhibitions that attract collectors and buyers; art galleries are thus the intermediary or link to the art market. The number of people visiting festivals such as Aardklop (specifically, art galleries and exhibitions at festivals) is still on the increase (Higgs, Polonsky & Hollick, 2005; Slater, 2007). Most of the arts festivals in South Africa are younger than 15 years, but with this growth came a boom in visual arts and competition amongst art galleries, which has resulted in art organisations mirroring a business-like approach that emphasises revenue production, marketing and promotion (Higgs et al., 2005). Artists and arts organisations need an audience, and one of the main tasks of management is to build this audience (Boorsma, 1998). Rogoff, Lee and Suh (2004) further mentioned that internal and external factors are determinants of business success, including factors that are beyond the control of the manager. Management must therefore shift from an art-centred business to a more client-focused enterprise (Shaw, 2002). Introducing collaborative and effective marketing models (product promotion, market accessibility and networking) can thus lead to the d","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"435"},"PeriodicalIF":0.0,"publicationDate":"2016-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71361540","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}
INTRODUCTIONBoard structure has a substantial influence on the practice of corporate governance in advanced markets as well as in emerging markets (Allen, 2005; Marquis & Raynard, 2015). Recent research indicates that the significance of board structure not only arises from managerial scandals and corporate collapse, but also from its impact on firm financial performance. Specifically, numerous empirical studies reveal that certain structural approaches in board structure enhance firm financial performance (Payne, Benson, & Finegold, 2009). While these studies made a significant contribution to theory and practice, they have predominantly been developed within the context of an advanced market. Given that the underpinning theories used by these studies have originated from a mature market with well-established institutions, the applicability of their findings in an emerging market context is questionable. Indeed, Fan, Wei and Xu (2011) and Xu and Meyer (2013) claim that relying merely on the Anglo-Saxon board classifications (independent, outside, and inside) seems counterintuitive when investigating the financial implications of board structure in emerging markets without considering their significant contextual implications, given that boardrooms in those markets are highly populated by influential families and government representatives, who in turn represent the actual players on the board.Despite recent attempts to recognize the pivotality of context when determining the effect of board structure on firm financial performance in emerging markets, Judge (2012) and Marquis and Raynard (2015) clarify that the majority of research has largely neglected bundling the contextual considerations of emerging markets with theory. Schiehll, Ahmadjian, and Filatotchev (2014) explain that theory-context bundling involves configurations of governance mechanisms in emerging markets that simultaneously operate at the national level to govern firms within an overall economy or collection of economies. According to Huse, Hoskisson, Zattoni, and Vigano (2011: 12), accurate understanding of the relationship between board structure and firm financial performance in emerging markets 'requires an explicit involvement of context'. This signifies that an analysis of the phenomenon of board structure in emerging markets without the integration of theory and context lacks precision.Furthermore, as the bundling approach is a relatively recent trend among researchers, empirical evidence still remains relatively scarce (Kearney, 2012; Schiehll et al., 2014; Xu & Meyer, 2013; Young et al., 2008), and in some contexts this approach is completely unrepresented, as is the case in Saudi Arabia. In this regard, this paper aims to address the aforementioned issue, utilizing an integration of agency theory and class hegemony theory (Daily, Dalton, & Cannella, 2003) in the context of the emerging Saudi Arabian market. Particularly, this paper will identify the key social, politica
{"title":"The Impact of Contextualizing Board Structure on Firm Financial Performance in an Emerging Market","authors":"M. Almadi","doi":"10.7903/CMR.15752","DOIUrl":"https://doi.org/10.7903/CMR.15752","url":null,"abstract":"INTRODUCTIONBoard structure has a substantial influence on the practice of corporate governance in advanced markets as well as in emerging markets (Allen, 2005; Marquis & Raynard, 2015). Recent research indicates that the significance of board structure not only arises from managerial scandals and corporate collapse, but also from its impact on firm financial performance. Specifically, numerous empirical studies reveal that certain structural approaches in board structure enhance firm financial performance (Payne, Benson, & Finegold, 2009). While these studies made a significant contribution to theory and practice, they have predominantly been developed within the context of an advanced market. Given that the underpinning theories used by these studies have originated from a mature market with well-established institutions, the applicability of their findings in an emerging market context is questionable. Indeed, Fan, Wei and Xu (2011) and Xu and Meyer (2013) claim that relying merely on the Anglo-Saxon board classifications (independent, outside, and inside) seems counterintuitive when investigating the financial implications of board structure in emerging markets without considering their significant contextual implications, given that boardrooms in those markets are highly populated by influential families and government representatives, who in turn represent the actual players on the board.Despite recent attempts to recognize the pivotality of context when determining the effect of board structure on firm financial performance in emerging markets, Judge (2012) and Marquis and Raynard (2015) clarify that the majority of research has largely neglected bundling the contextual considerations of emerging markets with theory. Schiehll, Ahmadjian, and Filatotchev (2014) explain that theory-context bundling involves configurations of governance mechanisms in emerging markets that simultaneously operate at the national level to govern firms within an overall economy or collection of economies. According to Huse, Hoskisson, Zattoni, and Vigano (2011: 12), accurate understanding of the relationship between board structure and firm financial performance in emerging markets 'requires an explicit involvement of context'. This signifies that an analysis of the phenomenon of board structure in emerging markets without the integration of theory and context lacks precision.Furthermore, as the bundling approach is a relatively recent trend among researchers, empirical evidence still remains relatively scarce (Kearney, 2012; Schiehll et al., 2014; Xu & Meyer, 2013; Young et al., 2008), and in some contexts this approach is completely unrepresented, as is the case in Saudi Arabia. In this regard, this paper aims to address the aforementioned issue, utilizing an integration of agency theory and class hegemony theory (Daily, Dalton, & Cannella, 2003) in the context of the emerging Saudi Arabian market. Particularly, this paper will identify the key social, politica","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"409-434"},"PeriodicalIF":0.0,"publicationDate":"2016-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71361326","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 research question addressed in this paper is this: what is the role of strategic flexibility as a product of MCS characteristics, an enabler of strategic change, and a mediating variable in the relationships between MCS characteristics and strategic change? This focus fills a gap in the literature which in the past has reported research primarily on the nexus between MCS characteristics and strategic change. Data are collected through a mail-based survey of strategic business units in Australian manufacturing organizations. The findings indicate that two MCS characteristics (the timeliness and interactive use of information) lead to strategic flexibility, that strategic flexibility leads to strategic change (operational change), and that strategic flexibility mediates the relationships between these particular MCS characteristics and strategic change. The study’s findings offer a more comprehensive theory of strategic management in dynamic environments, which contributes to the MCS–strategy literature and informs the practice of organizational management with reference to the resource-based view of the firm. In particular, the findings indicate to researchers in the MCS–strategy field that, although some MCS characteristics might lead directly to strategic change, greater attention should be paid to the role of strategic flexibility as a product of MCS characteristics, an enabler of strategic change, and a mediator in the relationships between certain MCS characteristics and strategic change. Keywords: Management Control Systems, Strategic Flexibility, Strategic Change To cite this document: Mark Srour, Kevin Baird, and Herb Schoch, "The Role of Strategic Flexibility in The Associations between Management Control System Characteristics and Strategic Change", Contemporary Management Research, Vol.12, No.3, pp. 371-406, 2016. Permanent link to this document: http://dx.doi.org/10.7903/cmr.13851
本文的研究问题是:战略灵活性作为MCS特征的产物、战略变革的推动者和中介变量,在MCS特征与战略变革的关系中扮演了怎样的角色?这一重点填补了过去文献中主要报道MCS特征与战略变革之间关系的研究空白。数据收集通过邮件为基础的调查战略业务单位在澳大利亚制造组织。研究结果表明,两个MCS特征(信息的时效性和交互式使用)导致战略灵活性,战略灵活性导致战略变革(运营变革),战略灵活性在这些特定MCS特征与战略变革之间的关系中起中介作用。该研究的发现为动态环境中的战略管理提供了一个更全面的理论,这有助于mcs -战略文献,并为参考企业资源基础观点的组织管理实践提供了信息。研究结果特别提示MCS -战略研究领域的研究者,尽管某些MCS特征可能直接导致战略变革,但战略灵活性作为MCS特征的产物、战略变革的推动者和某些MCS特征与战略变革之间关系的中介作用应得到更多关注。引用本文:Mark Srour, Kevin Baird, Herb Schoch,“战略灵活性在管理控制系统特征与战略变革之间关联中的作用”,《当代管理研究》,第12卷,第3期,第371-406页,2016。此文档的永久链接:http://dx.doi.org/10.7903/cmr.13851
{"title":"The Role of Strategic Flexibility in The Associations between Management Control System Characteristics and Strategic Change","authors":"M. Srour, K. Baird, H. Schoch","doi":"10.7903/CMR.13851","DOIUrl":"https://doi.org/10.7903/CMR.13851","url":null,"abstract":"The research question addressed in this paper is this: what is the role of strategic flexibility as a product of MCS characteristics, an enabler of strategic change, and a mediating variable in the relationships between MCS characteristics and strategic change? This focus fills a gap in the literature which in the past has reported research primarily on the nexus between MCS characteristics and strategic change. Data are collected through a mail-based survey of strategic business units in Australian manufacturing organizations. The findings indicate that two MCS characteristics (the timeliness and interactive use of information) lead to strategic flexibility, that strategic flexibility leads to strategic change (operational change), and that strategic flexibility mediates the relationships between these particular MCS characteristics and strategic change. The study’s findings offer a more comprehensive theory of strategic management in dynamic environments, which contributes to the MCS–strategy literature and informs the practice of organizational management with reference to the resource-based view of the firm. In particular, the findings indicate to researchers in the MCS–strategy field that, although some MCS characteristics might lead directly to strategic change, greater attention should be paid to the role of strategic flexibility as a product of MCS characteristics, an enabler of strategic change, and a mediator in the relationships between certain MCS characteristics and strategic change. \u0000 \u0000Keywords: Management Control Systems, Strategic Flexibility, Strategic Change \u0000 \u0000To cite this document: Mark Srour, Kevin Baird, and Herb Schoch, \"The Role of Strategic Flexibility in The Associations between Management Control System Characteristics and Strategic Change\", Contemporary Management Research, Vol.12, No.3, pp. 371-406, 2016. \u0000 \u0000Permanent link to this document: \u0000http://dx.doi.org/10.7903/cmr.13851","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"371-406"},"PeriodicalIF":0.0,"publicationDate":"2016-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71361215","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 investigates fitness and recreational services using a quantitative approach. The findings of this study help property developers gain a better insight into facility management services and product offerings to improve customer experience. A critical review of literature focused on physical environment quality, outcome quality, and interaction quality from a consumer’s perspective. The quantitative study was based on a survey conducted with a sample of 75 respondents using a structured questionnaire. The results of this study enhance our understanding of the service quality dimensions with reference to recreational services provided in large residential areas of premium properties, which have a significant effect on purchase intention of consumers. Keywords: Properties, Recreational Facilities, Service Quality To cite this document: Ronnie Cheung and Monde Woo, "Determinants of Perceived Service Quality: An Empirical Investigation of Fitness and Recreational Facilities", Contemporary Management Research, Vol.12, No.3, pp. 363-370, 2016. Permanent link to this document: http://dx.doi.org/10.7903/cmr.12369
{"title":"Determinants of Perceived Service Quality: An Empirical Investigation of Fitness and Recreational Facilities","authors":"R. Cheung, M. Woo","doi":"10.7903/CMR.12369","DOIUrl":"https://doi.org/10.7903/CMR.12369","url":null,"abstract":"This study investigates fitness and recreational services using a quantitative approach. The findings of this study help property developers gain a better insight into facility management services and product offerings to improve customer experience. A critical review of literature focused on physical environment quality, outcome quality, and interaction quality from a consumer’s perspective. The quantitative study was based on a survey conducted with a sample of 75 respondents using a structured questionnaire. The results of this study enhance our understanding of the service quality dimensions with reference to recreational services provided in large residential areas of premium properties, which have a significant effect on purchase intention of consumers. \u0000 \u0000Keywords: Properties, Recreational Facilities, Service Quality \u0000 \u0000To cite this document: Ronnie Cheung and Monde Woo, \"Determinants of Perceived Service Quality: An Empirical Investigation of Fitness and Recreational Facilities\", Contemporary Management Research, Vol.12, No.3, pp. 363-370, 2016. \u0000 \u0000Permanent link to this document: \u0000http://dx.doi.org/10.7903/cmr.12369","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"363-370"},"PeriodicalIF":0.0,"publicationDate":"2016-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71360803","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}
INTRODUCTIONIn today's globally competitive e-commerce market, customers have more choices. In such a challenging environment, companies are subject to threats from both local and overseas competitors. The extant literature suggests that, to overcome such threats, a firm must keep its customers satisfied. On the one hand, a competitive e-commerce offers customers various opportunities to compare and buy products online; on the other hand, it provides organisations with new ways to conduct business and exchange/communicate information. Consequently, the market becomes increasingly competitive as customers can get easy access to more product information and are able to buy products and services online from anywhere. Companies usually spend big money to market their products, both to get new customers and retain existing customers. However, in the current global e-commerce market, companies using only traditional product-promotion activities may not survive (O'Connell, 2002). The relevant literature suggests that, to survive in the market, companies have to improve their customer-related performance to get new customers and retain the existing ones.Customer-related performance, which is usually driven by customer satisfaction, has been regarded as a critical determinant of long-term customer behaviour. The more satisfied customers are, the more loyal they are to the products (Ranaweera & Prabhu, 2003), which in turn leads to increased sales and market shares. Kim (2010), for instance, reported that satisfied customers show loyalty to a company through repeat as well as increased purchases of its products and services as well as recommendation of the products/services to others; they are also less sensitive to price. Compared to getting new customers, satisfied customers are also less expensive to retain, thereby generating financial benefits at relatively lower marketing costs (see Ranaweera & Prabhu, 2003). Following the literature, we consider that a company's customer-related performance contributes to its success.The relevant literature suggests that, as the market becomes more and more competitive, companies find it harder to maintain or improve their customer satisfaction by increasing their product range, improving the quality of products and services, offering better value for money, and penetrating into new and/or overseas markets (Kaplan & Norton, 1996; Whipple, 2000). One way to achieve such an objective is to engage in strategic alliance(s) with other firms. Gulati (1998, p. 293) defined a strategic alliance as "voluntary arrangements between firms involving exchange of technologies, sharing of services, and/or co-development of products." They can occur as a result of a wide range of motives and goals, take a variety of forms, and occur across vertical and horizontal boundaries. Engaging in a strategic alliance allows the alliance member firms to jointly undertake research and development; share knowledge, costs, and risks in developing
{"title":"Strategic Alliance, Information and Communication Technology, and Customer-Related Performance: The Role of Industry Characteristics","authors":"Lanita Winata, Lokman Mia, C. Langmann","doi":"10.7903/CMR.14385","DOIUrl":"https://doi.org/10.7903/CMR.14385","url":null,"abstract":"INTRODUCTIONIn today's globally competitive e-commerce market, customers have more choices. In such a challenging environment, companies are subject to threats from both local and overseas competitors. The extant literature suggests that, to overcome such threats, a firm must keep its customers satisfied. On the one hand, a competitive e-commerce offers customers various opportunities to compare and buy products online; on the other hand, it provides organisations with new ways to conduct business and exchange/communicate information. Consequently, the market becomes increasingly competitive as customers can get easy access to more product information and are able to buy products and services online from anywhere. Companies usually spend big money to market their products, both to get new customers and retain existing customers. However, in the current global e-commerce market, companies using only traditional product-promotion activities may not survive (O'Connell, 2002). The relevant literature suggests that, to survive in the market, companies have to improve their customer-related performance to get new customers and retain the existing ones.Customer-related performance, which is usually driven by customer satisfaction, has been regarded as a critical determinant of long-term customer behaviour. The more satisfied customers are, the more loyal they are to the products (Ranaweera & Prabhu, 2003), which in turn leads to increased sales and market shares. Kim (2010), for instance, reported that satisfied customers show loyalty to a company through repeat as well as increased purchases of its products and services as well as recommendation of the products/services to others; they are also less sensitive to price. Compared to getting new customers, satisfied customers are also less expensive to retain, thereby generating financial benefits at relatively lower marketing costs (see Ranaweera & Prabhu, 2003). Following the literature, we consider that a company's customer-related performance contributes to its success.The relevant literature suggests that, as the market becomes more and more competitive, companies find it harder to maintain or improve their customer satisfaction by increasing their product range, improving the quality of products and services, offering better value for money, and penetrating into new and/or overseas markets (Kaplan & Norton, 1996; Whipple, 2000). One way to achieve such an objective is to engage in strategic alliance(s) with other firms. Gulati (1998, p. 293) defined a strategic alliance as \"voluntary arrangements between firms involving exchange of technologies, sharing of services, and/or co-development of products.\" They can occur as a result of a wide range of motives and goals, take a variety of forms, and occur across vertical and horizontal boundaries. Engaging in a strategic alliance allows the alliance member firms to jointly undertake research and development; share knowledge, costs, and risks in developing","PeriodicalId":36973,"journal":{"name":"Contemporary Management Research","volume":"12 1","pages":"337-362"},"PeriodicalIF":0.0,"publicationDate":"2016-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71361630","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}