首页 > 最新文献

Diversification Strategy & Policy eJournal最新文献

英文 中文
Diversification as a Strategic Choice for Yangguang Takeaway Restaurant 多元化经营是阳光外卖的战略选择
Pub Date : 2018-01-07 DOI: 10.2139/ssrn.3519765
Chenoy Ceil
Growth through diversification is an important parameter for most firms, and it was no different for Yangguang. Yangyang was now offering takeaway services to similar markets and this increased the value proposition for the company. This significantly helped the firm to expand its services and implement economies of scale in production and delivery of fast food. Diversification into the takeaway industry was a natural transition for Yangguang as the firm was already selling food through its grocery store.
对大多数公司来说,通过多元化实现增长是一个重要的参数,阳光也不例外。洋洋现在向类似的市场提供外卖服务,这增加了公司的价值主张。这极大地帮助了该公司扩大其服务范围,并在快餐生产和配送方面实现了规模经济。多元化进入外卖行业对阳光来说是一个自然的转变,因为该公司已经通过其杂货店销售食品。
{"title":"Diversification as a Strategic Choice for Yangguang Takeaway Restaurant","authors":"Chenoy Ceil","doi":"10.2139/ssrn.3519765","DOIUrl":"https://doi.org/10.2139/ssrn.3519765","url":null,"abstract":"Growth through diversification is an important parameter for most firms, and it was no different for Yangguang. Yangyang was now offering takeaway services to similar markets and this increased the value proposition for the company. This significantly helped the firm to expand its services and implement economies of scale in production and delivery of fast food. Diversification into the takeaway industry was a natural transition for Yangguang as the firm was already selling food through its grocery store.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126949153","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}
引用次数: 0
When Does Limited Commitment Matter in a Production Economy? 在生产经济中,有限承诺何时起作用?
Pub Date : 2017-01-11 DOI: 10.2139/ssrn.2375531
Kyoung Jin Choi, Jungho Lee
We investigate the conditions under which the first-best allocation without commitment is sustainable in a production economy. We find that allowing capital accumulation can help to sustain the first-best allocation, although it is known to create a distortion. For some production technologies, gains from efficient resource allocation between agents can be so large that it can compensate for the increase in the outside option that arises when capital moves to the more productive agent from the less productive agent.
我们研究了在生产经济中无承诺的最优分配是可持续的条件。我们发现,允许资本积累有助于维持最优配置,尽管众所周知它会造成扭曲。对于某些生产技术来说,代理人之间有效的资源配置所带来的收益是如此之大,以至于它可以补偿当资本从生产力较低的代理人转移到生产力较高的代理人时所产生的外部选择的增加。
{"title":"When Does Limited Commitment Matter in a Production Economy?","authors":"Kyoung Jin Choi, Jungho Lee","doi":"10.2139/ssrn.2375531","DOIUrl":"https://doi.org/10.2139/ssrn.2375531","url":null,"abstract":"We investigate the conditions under which the first-best allocation without commitment is sustainable in a production economy. We find that allowing capital accumulation can help to sustain the first-best allocation, although it is known to create a distortion. For some production technologies, gains from efficient resource allocation between agents can be so large that it can compensate for the increase in the outside option that arises when capital moves to the more productive agent from the less productive agent.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131360044","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}
引用次数: 0
Cross-Border Acquisitions and the Asymmetric Effect of Power Distance Value Difference on Long-Term Post-Acquisition Performance 跨国收购与权力距离价值差异对收购后长期绩效的非对称影响
Pub Date : 2016-04-01 DOI: 10.1002/SMJ.2530
Zhi Huang, Hong Zhu, Daniel J. Brass
Inconclusive findings about the effect of national cultural differences on post-acquisition performance may be created by the failure to distinguish among the different cultural dimensions and the asymmetry of cultural differences. To demonstrate a different approach, this study focuses on one dimension of national cultural values — power distance value (PDV) and develops a framework for the asymmetric effect of PDV differences in creating two types of conflicts. The analysis of 2,115 cross-border acquisitions in the global information technology industry shows that PDV differences undermine the long-term post-acquisition performance of acquirers. This effect is stronger when acquirers are higher than targets in PDV than when the opposite is the case. This asymmetric effect of PDV difference depends on national status difference, business relatedness, and acquisition experience.
关于国家文化差异对习得后绩效影响的不确定结果可能是由于未能区分不同的文化维度和文化差异的不对称性造成的。为了展示一种不同的方法,本研究将重点放在国家文化价值观的一个维度-权力距离价值(PDV)上,并为PDV差异在制造两种冲突中的不对称效应建立了一个框架。通过对全球信息技术产业2115起跨境收购的分析,发现PDV差异会影响收购方的长期收购后绩效。当收购方的PDV高于目标方时,这种效应强于收购方的PDV。这种PDV差异的不对称效应取决于国家地位差异、业务相关性和收购经验。
{"title":"Cross-Border Acquisitions and the Asymmetric Effect of Power Distance Value Difference on Long-Term Post-Acquisition Performance","authors":"Zhi Huang, Hong Zhu, Daniel J. Brass","doi":"10.1002/SMJ.2530","DOIUrl":"https://doi.org/10.1002/SMJ.2530","url":null,"abstract":"Inconclusive findings about the effect of national cultural differences on post-acquisition performance may be created by the failure to distinguish among the different cultural dimensions and the asymmetry of cultural differences. To demonstrate a different approach, this study focuses on one dimension of national cultural values — power distance value (PDV) and develops a framework for the asymmetric effect of PDV differences in creating two types of conflicts. The analysis of 2,115 cross-border acquisitions in the global information technology industry shows that PDV differences undermine the long-term post-acquisition performance of acquirers. This effect is stronger when acquirers are higher than targets in PDV than when the opposite is the case. This asymmetric effect of PDV difference depends on national status difference, business relatedness, and acquisition experience.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123035028","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}
引用次数: 89
Collaboration between Competitors' NPD Teams: In Search of Effective Modes of Management Control 竞争对手新产品开发团队之间的合作:寻找有效的管理控制模式
Pub Date : 2016-01-01 DOI: 10.1111/radm.12156
Lydie P. M. Smets, F. Langerak, Mohan V. Tatikonda
Successful collaboration between new product development (NPD) teams maintained by competitors (so-called horizontal NPD collaboration) requires the use of formal modes of management control that simultaneously coordinate the teams' interdependent development activities and encourage their cooperative behavior. Nevertheless, prior theoretical and empirical research suggests that formal control modes required to improve coordination may also drive uncooperative, opportunistic behavior. To help managers in horizontal NPD collaborations select appropriate control modes, this study draws on organizational theory of management control and develops a conceptual framework that specifies the impact of one partner's use of input, process, and output controls on the other partner's perception of coordination effectiveness and cooperative behavior. The results of a scenario-based experiment with 110 expert practitioners show that managers perceive the competitor's use of input control as harmful and process control as helpful for achieving coordination effectiveness. Moreover, managers respond positively to the competitor's use of input control and negatively to the competitor's use of output control when it comes to cooperative behavior. Together, the results indicate that no single mode of formal management control simultaneously enhances both coordination and cooperative behavior in horizontal NPD collaborations.
竞争对手维持的新产品开发(NPD)团队之间的成功协作(所谓的水平NPD协作)需要使用正式的管理控制模式,同时协调团队相互依赖的开发活动并鼓励他们的合作行为。然而,先前的理论和实证研究表明,改善协调所需的正式控制模式也可能驱动不合作的机会主义行为。为了帮助横向新产品开发合作中的管理者选择合适的控制模式,本研究借鉴了管理控制的组织理论,并开发了一个概念框架,该框架规定了一方使用输入、过程和输出控制对另一方对协调有效性和合作行为的感知的影响。对110名专家从业人员进行的基于场景的实验结果表明,管理者认为竞争对手使用输入控制是有害的,而过程控制有助于实现协调有效性。此外,当涉及到合作行为时,管理者对竞争对手使用投入控制的反应是积极的,对竞争对手使用产出控制的反应是消极的。综上所述,没有一种正式的管理控制模式能够同时增强横向新产品开发协作中的协调和合作行为。
{"title":"Collaboration between Competitors' NPD Teams: In Search of Effective Modes of Management Control","authors":"Lydie P. M. Smets, F. Langerak, Mohan V. Tatikonda","doi":"10.1111/radm.12156","DOIUrl":"https://doi.org/10.1111/radm.12156","url":null,"abstract":"Successful collaboration between new product development (NPD) teams maintained by competitors (so-called horizontal NPD collaboration) requires the use of formal modes of management control that simultaneously coordinate the teams' interdependent development activities and encourage their cooperative behavior. Nevertheless, prior theoretical and empirical research suggests that formal control modes required to improve coordination may also drive uncooperative, opportunistic behavior. To help managers in horizontal NPD collaborations select appropriate control modes, this study draws on organizational theory of management control and develops a conceptual framework that specifies the impact of one partner's use of input, process, and output controls on the other partner's perception of coordination effectiveness and cooperative behavior. The results of a scenario-based experiment with 110 expert practitioners show that managers perceive the competitor's use of input control as harmful and process control as helpful for achieving coordination effectiveness. Moreover, managers respond positively to the competitor's use of input control and negatively to the competitor's use of output control when it comes to cooperative behavior. Together, the results indicate that no single mode of formal management control simultaneously enhances both coordination and cooperative behavior in horizontal NPD collaborations.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133392419","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}
引用次数: 24
Diversifying Risk Parity 分散风险平价
Pub Date : 2013-11-07 DOI: 10.2139/ssrn.1974446
Harald Lohre, Heiko Opfer, G. Orszag
Striving for maximum diversification we follow Meucci (2009) in measuring and managing a multi-asset class portfolio. Under this paradigm the maximum diversification portfolio is equivalent to a risk parity strategy with respect to the uncorrelated risk sources embedded in the underlying portfolio assets. Our paper characterizes the mechanics and properties of this diversified risk parity strategy. Moreover, we explore the risk and diversification characteristics of traditional risk-based asset allocation techniques like 1/N, minimum-variance, or risk parity and demonstrate the diversified risk parity strategy to be quite meaningful when benchmarked against these alternatives.
为了最大限度地实现多样化,我们遵循Meucci(2009)的方法来衡量和管理多资产类别的投资组合。在这种模式下,最大的多样化投资组合相当于风险平价策略,相对于嵌入在基础投资组合资产中的不相关风险源。本文描述了这种多元化风险平价策略的机制和性质。此外,我们探讨了传统基于风险的资产配置技术(如1/N、最小方差或风险平价)的风险和多样化特征,并证明了以这些替代方案为基准时,多元化风险平价策略是相当有意义的。
{"title":"Diversifying Risk Parity","authors":"Harald Lohre, Heiko Opfer, G. Orszag","doi":"10.2139/ssrn.1974446","DOIUrl":"https://doi.org/10.2139/ssrn.1974446","url":null,"abstract":"Striving for maximum diversification we follow Meucci (2009) in measuring and managing a multi-asset class portfolio. Under this paradigm the maximum diversification portfolio is equivalent to a risk parity strategy with respect to the uncorrelated risk sources embedded in the underlying portfolio assets. Our paper characterizes the mechanics and properties of this diversified risk parity strategy. Moreover, we explore the risk and diversification characteristics of traditional risk-based asset allocation techniques like 1/N, minimum-variance, or risk parity and demonstrate the diversified risk parity strategy to be quite meaningful when benchmarked against these alternatives.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116353996","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}
引用次数: 61
Epigenetic Economic Dynamics: The Adaptation of Business Routines and Geographic Spaces to Rapid Environmental Changes 表观遗传经济动态:商业惯例和地理空间对快速环境变化的适应
Pub Date : 2013-10-17 DOI: 10.2139/ssrn.2341542
Mikel Gomez-Uranga
In this article, our aim is to study how firms and territories adapt to very fast qualitatively major changes in the environment. As opposed to the prevalent Darwinian approach in which the logic of the phenotype takes shape as a “slow and moderate” adaptation of social organisations to changes, our view focuses mainly on rapid adaptation to quickly changing environments.The concept of Epigenetic Economic Dynamics (EED) is understood as the study of the epigenetic dynamics generated as a result of the adaptation of organizations to major changes in their respective environments. The concept shows its highest explanatory power in rapidly changing environments, which entail fast organizational moves and/or decisions.The concept of EED was originally designed to explain the changes generated in Internet industry groups. As a result of the study, the part dealing with the results of economic systems, innovation, legal changes, regulations and morals induced by the epigenetic dynamics of organisations was configured and expanded.Three related points of attention could be cited as where to focus analyses concerning organisations’ adaptation to changing environments: The mechanics of change “in routines”; the “necessary capabilities” that organisations require; and “the resulting dynamics” observed in them. The adaptation to changes in the environment in each case makes it possible to study these three approaches in a related manner.The use of the concept of resilience in regional economics is increasingly widespread. In the resilience framework, adaptive capacity takes shape as a key structural component. In this paper we establish an analogy between firms and national or regional spaces so that the activities, resources, routines and paths observed in firms can determine their fast adaptation to rapid changes in the environment or, on the contrary, make this adaptation impossible.
在本文中,我们的目的是研究企业和地区如何适应环境中非常快速的重大质的变化。与流行的达尔文方法相反,在达尔文方法中,表现型的逻辑形成为社会组织对变化的“缓慢而适度”的适应,我们的观点主要集中在快速适应快速变化的环境。表观遗传经济动力学(EED)的概念被理解为研究由于组织适应各自环境的重大变化而产生的表观遗传动力学。这个概念在快速变化的环境中显示出最高的解释力,这需要快速的组织行动和/或决策。EED的概念最初是为了解释互联网行业组织中产生的变化。研究的结果是,处理由组织的表观遗传动力学引起的经济制度、创新、法律变化、法规和道德的结果的部分得到了配置和扩展。有关组织适应变化环境的分析,可以引用三个相关的注意点:“常规”变化的机制;组织需要的“必要能力”;以及在他们身上观察到的“结果动力学”。每种情况下对环境变化的适应使得以相关的方式研究这三种方法成为可能。弹性概念在区域经济学中的应用日益广泛。在弹性框架中,适应能力是一个关键的结构组成部分。在本文中,我们建立了企业与国家或地区空间之间的类比,以便在企业中观察到的活动、资源、惯例和路径可以决定它们对环境快速变化的快速适应,或者相反,使这种适应变得不可能。
{"title":"Epigenetic Economic Dynamics: The Adaptation of Business Routines and Geographic Spaces to Rapid Environmental Changes","authors":"Mikel Gomez-Uranga","doi":"10.2139/ssrn.2341542","DOIUrl":"https://doi.org/10.2139/ssrn.2341542","url":null,"abstract":"In this article, our aim is to study how firms and territories adapt to very fast qualitatively major changes in the environment. As opposed to the prevalent Darwinian approach in which the logic of the phenotype takes shape as a “slow and moderate” adaptation of social organisations to changes, our view focuses mainly on rapid adaptation to quickly changing environments.The concept of Epigenetic Economic Dynamics (EED) is understood as the study of the epigenetic dynamics generated as a result of the adaptation of organizations to major changes in their respective environments. The concept shows its highest explanatory power in rapidly changing environments, which entail fast organizational moves and/or decisions.The concept of EED was originally designed to explain the changes generated in Internet industry groups. As a result of the study, the part dealing with the results of economic systems, innovation, legal changes, regulations and morals induced by the epigenetic dynamics of organisations was configured and expanded.Three related points of attention could be cited as where to focus analyses concerning organisations’ adaptation to changing environments: The mechanics of change “in routines”; the “necessary capabilities” that organisations require; and “the resulting dynamics” observed in them. The adaptation to changes in the environment in each case makes it possible to study these three approaches in a related manner.The use of the concept of resilience in regional economics is increasingly widespread. In the resilience framework, adaptive capacity takes shape as a key structural component. In this paper we establish an analogy between firms and national or regional spaces so that the activities, resources, routines and paths observed in firms can determine their fast adaptation to rapid changes in the environment or, on the contrary, make this adaptation impossible.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125756063","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}
引用次数: 0
Diversification Strategies and Firm Performance: A Sample Selection Approach 多元化战略与企业绩效:一个样本选择方法
Pub Date : 2013-07-30 DOI: 10.2139/ssrn.2303642
E. Santarelli, H. Tran
This paper is based upon the assumption that firm profitability is determined by its degree of diversification which in turn is strongly related to the antecedent decision to carry out diversification activities. This calls for an empirical approach that permits the joint analysis of the three interrelated and consecutive stages of the overall diversification process: diversification decision, degree of diversification, and outcome of diversification. We apply parametric and semiparametric approaches to control for sample selection and endogeneity of diversification decision in both static and dynamic models. After controlling for industry fixed-effects, empirical evidence from firm-level data shows that diversification has a curvilinear effect on profitability: it improves firms’ profit up to a point, after which a further increase in diversification is associated with declining performance. This implies that firms should consider optimal levels of product diversification when they expand product offerings beyond their core business. Other worth-noting findings include: (i) factors stimulating firms to diversify do not necessarily encourage them to extend their diversification strategy; (ii) firms which are endowed with highly skilled human capital are likely to successfully exploit diversification as an engine of growth; (iii) while industry performance does not influence profitability of firms, it impacts their diversification decision and degree.
本文基于这样一个假设,即企业的盈利能力是由多元化程度决定的,而多元化程度又与企业进行多元化活动的事前决策密切相关。这就需要一种经验性的方法,以便联合分析整个多样化过程的三个相互关联和连续的阶段:多样化决定、多样化程度和多样化结果。我们在静态和动态模型中应用参数和半参数方法来控制样本选择和多样化决策的内质性。在控制了行业固定效应之后,来自企业层面数据的经验证据表明,多元化对盈利能力具有曲线效应:它在一定程度上提高了企业的利润,在此之后,进一步增加多元化与业绩下降有关。这意味着,当企业在其核心业务之外扩大产品供应时,应考虑产品多样化的最佳水平。其他值得注意的发现包括:(i)刺激公司多元化的因素并不一定鼓励他们扩展多元化战略;(ii)拥有高技能人力资本的公司很可能成功地利用多样化作为增长的引擎;(3)行业绩效虽然不影响企业的盈利能力,但会影响企业的多元化决策和程度。
{"title":"Diversification Strategies and Firm Performance: A Sample Selection Approach","authors":"E. Santarelli, H. Tran","doi":"10.2139/ssrn.2303642","DOIUrl":"https://doi.org/10.2139/ssrn.2303642","url":null,"abstract":"This paper is based upon the assumption that firm profitability is determined by its degree of diversification which in turn is strongly related to the antecedent decision to carry out diversification activities. This calls for an empirical approach that permits the joint analysis of the three interrelated and consecutive stages of the overall diversification process: diversification decision, degree of diversification, and outcome of diversification. We apply parametric and semiparametric approaches to control for sample selection and endogeneity of diversification decision in both static and dynamic models. After controlling for industry fixed-effects, empirical evidence from firm-level data shows that diversification has a curvilinear effect on profitability: it improves firms’ profit up to a point, after which a further increase in diversification is associated with declining performance. This implies that firms should consider optimal levels of product diversification when they expand product offerings beyond their core business. Other worth-noting findings include: (i) factors stimulating firms to diversify do not necessarily encourage them to extend their diversification strategy; (ii) firms which are endowed with highly skilled human capital are likely to successfully exploit diversification as an engine of growth; (iii) while industry performance does not influence profitability of firms, it impacts their diversification decision and degree.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115569519","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}
引用次数: 15
Entry Strategy of the Indian Pharmaceutical Companies in Africa, CIS and the Middle East 印度制药公司在非洲、独联体和中东的进入战略
Pub Date : 2012-09-14 DOI: 10.2139/ssrn.2162547
Roshni Majumdar
The social, economic and demographic context, in which the global pharmaceutical industry functions, is altering. The already developed economies, with escalation in healthcare expenses are looking to rein in healthcare disbursements. In developing economies as Africa, CIS & Middle-East the pharmaceutical industries are also undergoing a phase of dynamic change. The changes are brought about by revolutionary initiatives taken by the government of the constituent nations and the world around. Rising health consciousness, prevalence of diseases, and healthcare expenditure will help the MENA (Middle-East & North Africa) pharma market to grow at a CAGR of approx. 9.5% during 2011-2013. The pharma market in this region will continue to grow due to the high demand of drugs, even though there are multitudes of political issues in the region, which can potentially harm the industry. It is found that Saudi Arabia, South Africa, Africa, Algeria, & Egypt are the main defining markets in the region, and they will continue to dominate the market in future also. However, other countries, such as the UAE, Nigeria, CIS, and Israel have a lot of untapped potential, which can be utilized by the pharma companies. To capitalize on the opportunities in the Middle East & Africa pharma market, the multinational companies are looking to penetrate the market through individual or collaborative efforts. Joint ventures and other distribution agreements with the local companies will provide multinationals the advantage of having a better understanding of the market and its demands. Emerging economies as India & China certainly, propose a beam of optimism for the global pharmaceutical industry. The product development skills and scientific talent in India are being increasingly sought after by the pharmaceutical MNCs to confront the trials of growth and innovation. Indian pharmaceutical companies are also watching to move ahead in the value chain and alter the perception of India as a low-priced manufacture base to that of a unpretentious intellectual contributor. Various policies being introduced are related to the strengthening of the IPR protection laws, providing incentives, and tax exemptions to the foreign and domestic companies, and improving the marketing & distribution channels as well.
全球制药业所处的社会、经济和人口背景正在发生变化。随着医疗费用的上升,已经发达的经济体正在寻求控制医疗支出。在非洲、独联体和中东等发展中经济体,制药业也正在经历一个动态变化的阶段。这些变化是由各组成国政府和世界各国采取的革命行动带来的。不断提高的健康意识、疾病的流行和医疗保健支出将有助于MENA(中东和北非)制药市场以大约的复合年增长率增长。2011-2013年9.5%。由于药品需求旺盛,该地区的医药市场将继续增长,尽管该地区存在大量可能损害该行业的政治问题。研究发现,沙特阿拉伯、南非、非洲、阿尔及利亚和埃及是该地区的主要决定性市场,未来它们也将继续主导市场。然而,其他国家,如阿联酋、尼日利亚、独联体和以色列,有很多未开发的潜力,这些潜力可以被制药公司利用。为了利用中东和非洲制药市场的机会,跨国公司正在寻求通过个人或合作的努力渗透市场。与当地公司的合资企业和其他分销协议将为跨国公司提供更好地了解市场及其需求的优势。印度和中国等新兴经济体无疑为全球制药行业带来了乐观的曙光。印度的产品开发技能和科学人才越来越受到制药跨国公司的追捧,以应对增长和创新的考验。印度制药公司也在关注在价值链上的前进,并将印度作为一个低价制造基地的印象转变为一个谦逊的智力贡献者。正在出台的各种政策涉及加强知识产权保护法律,为国内外公司提供奖励和免税,以及改善营销和分销渠道。
{"title":"Entry Strategy of the Indian Pharmaceutical Companies in Africa, CIS and the Middle East","authors":"Roshni Majumdar","doi":"10.2139/ssrn.2162547","DOIUrl":"https://doi.org/10.2139/ssrn.2162547","url":null,"abstract":"The social, economic and demographic context, in which the global pharmaceutical industry functions, is altering. The already developed economies, with escalation in healthcare expenses are looking to rein in healthcare disbursements. In developing economies as Africa, CIS & Middle-East the pharmaceutical industries are also undergoing a phase of dynamic change. The changes are brought about by revolutionary initiatives taken by the government of the constituent nations and the world around. Rising health consciousness, prevalence of diseases, and healthcare expenditure will help the MENA (Middle-East & North Africa) pharma market to grow at a CAGR of approx. 9.5% during 2011-2013. The pharma market in this region will continue to grow due to the high demand of drugs, even though there are multitudes of political issues in the region, which can potentially harm the industry. It is found that Saudi Arabia, South Africa, Africa, Algeria, & Egypt are the main defining markets in the region, and they will continue to dominate the market in future also. However, other countries, such as the UAE, Nigeria, CIS, and Israel have a lot of untapped potential, which can be utilized by the pharma companies. To capitalize on the opportunities in the Middle East & Africa pharma market, the multinational companies are looking to penetrate the market through individual or collaborative efforts. Joint ventures and other distribution agreements with the local companies will provide multinationals the advantage of having a better understanding of the market and its demands. Emerging economies as India & China certainly, propose a beam of optimism for the global pharmaceutical industry. The product development skills and scientific talent in India are being increasingly sought after by the pharmaceutical MNCs to confront the trials of growth and innovation. Indian pharmaceutical companies are also watching to move ahead in the value chain and alter the perception of India as a low-priced manufacture base to that of a unpretentious intellectual contributor. Various policies being introduced are related to the strengthening of the IPR protection laws, providing incentives, and tax exemptions to the foreign and domestic companies, and improving the marketing & distribution channels as well.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129428553","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}
引用次数: 0
The Synergy Limitation Paradox 协同限制悖论
Pub Date : 2012-09-01 DOI: 10.2139/ssrn.2544436
K. R. Harrigan
The paradox of making acquisitions is that they are difficult to repay — since the market has already priced most attainable operating improvements into the transaction price. By expanding upon Sirower’s (1994) framework for identifying the required performance improvements (RPIs) needed to repay acquisition premiums, an approach is offered for finding combinatorial synergies that will add the necessary, incremental operating improvements to post-acquisition activities.
收购的矛盾之处在于,它们很难偿还——因为市场已经将最可能实现的经营改进计入了交易价格。通过扩展Sirower(1994)的框架,确定偿还收购溢价所需的必要绩效改进(rpi),提供了一种寻找组合协同效应的方法,该方法将为收购后的活动增加必要的、增量的运营改进。
{"title":"The Synergy Limitation Paradox","authors":"K. R. Harrigan","doi":"10.2139/ssrn.2544436","DOIUrl":"https://doi.org/10.2139/ssrn.2544436","url":null,"abstract":"The paradox of making acquisitions is that they are difficult to repay — since the market has already priced most attainable operating improvements into the transaction price. By expanding upon Sirower’s (1994) framework for identifying the required performance improvements (RPIs) needed to repay acquisition premiums, an approach is offered for finding combinatorial synergies that will add the necessary, incremental operating improvements to post-acquisition activities.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124328994","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}
引用次数: 4
Diversification and Survival of Young, Small Firms 年轻小企业的多元化与生存
Pub Date : 2012-02-23 DOI: 10.2139/ssrn.2009717
R. Baptista, Murat Karaöz, J. Leitão
Young firm diversification is examined investigating whether diversifying firms have higher survival chances. We use extensive longitudinal data containing information on firms’ characteristics and environmental conditions, and their evolution over time. Firms that are born diversified are more likely to survive, suggesting that pre-entry capabilities play an important role in early diversification. Firms diversifying after birth are more likely to survive the older they are at the moment of diversification, suggesting that early diversification may be associated with entry mistakes by firms that have not yet accumulated the required resources and capabilities to diversify successfully.
研究了年轻公司的多元化,以调查多元化的公司是否有更高的生存机会。我们使用了大量的纵向数据,其中包含公司特征和环境条件的信息,以及它们随时间的演变。天生多元化的公司更有可能生存下来,这表明进入前的能力在早期多元化中起着重要作用。公司在多元化的时候越老,在出生后多元化的公司越有可能生存下去,这表明早期多元化可能与公司尚未积累成功多元化所需的资源和能力的进入错误有关。
{"title":"Diversification and Survival of Young, Small Firms","authors":"R. Baptista, Murat Karaöz, J. Leitão","doi":"10.2139/ssrn.2009717","DOIUrl":"https://doi.org/10.2139/ssrn.2009717","url":null,"abstract":"Young firm diversification is examined investigating whether diversifying firms have higher survival chances. We use extensive longitudinal data containing information on firms’ characteristics and environmental conditions, and their evolution over time. Firms that are born diversified are more likely to survive, suggesting that pre-entry capabilities play an important role in early diversification. Firms diversifying after birth are more likely to survive the older they are at the moment of diversification, suggesting that early diversification may be associated with entry mistakes by firms that have not yet accumulated the required resources and capabilities to diversify successfully.","PeriodicalId":375570,"journal":{"name":"Diversification Strategy & Policy eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125388392","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}
引用次数: 1
期刊
Diversification Strategy & Policy eJournal
全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1