Pub Date : 2023-07-21DOI: 10.1108/emjb-02-2023-0055
John P. Rice, Nigel J. Martin, Muhammad Mustafa Raziq, P. Fieger
PurposeIn this paper, the authors will examine Welch's legacy and aftermaths, both for GE and more broadly within management practice and academic thought. As a complex character, indeed a person of many contradictions, the authors try to avoid polemics in this, instead focusing on his accomplishments and the unanswered questions about his impact.Design/methodology/approachThis paper is a historical case using secondary and published materials to assess the case of Jack Welch's leadership of General Electric over the period 1981–2001.FindingsWelch's proponents suggest he emphasized controlling corporate destiny, being open to new ideas, pursuing quality and low cost, having confidence, a vision founded on reality, a global focus and possessing energy and enthusiasm. However, his short-termist perspective undermined the long-term success of the company and his “win at any cost” mantra predisposed some employees to cutting ethical or environmental corners. As the market capitalization gains evaporated that had been used to justify the “end justifies the means” rationale, little is left of his legacy.Research limitations/implicationsThe paper discusses the implications of the GE case for issues associated with corporate governance, financialization and human resource management.Originality/valueThis is a timely reconsideration of the Jack Welch legacy two years after his death. In avoiding polemics and seeking a considered assessment of his positive and negative outcomes, the paper is an important addition to the research on Welch and American management thought.
{"title":"A reconsideration of Jack Welch's managerial legacy","authors":"John P. Rice, Nigel J. Martin, Muhammad Mustafa Raziq, P. Fieger","doi":"10.1108/emjb-02-2023-0055","DOIUrl":"https://doi.org/10.1108/emjb-02-2023-0055","url":null,"abstract":"PurposeIn this paper, the authors will examine Welch's legacy and aftermaths, both for GE and more broadly within management practice and academic thought. As a complex character, indeed a person of many contradictions, the authors try to avoid polemics in this, instead focusing on his accomplishments and the unanswered questions about his impact.Design/methodology/approachThis paper is a historical case using secondary and published materials to assess the case of Jack Welch's leadership of General Electric over the period 1981–2001.FindingsWelch's proponents suggest he emphasized controlling corporate destiny, being open to new ideas, pursuing quality and low cost, having confidence, a vision founded on reality, a global focus and possessing energy and enthusiasm. However, his short-termist perspective undermined the long-term success of the company and his “win at any cost” mantra predisposed some employees to cutting ethical or environmental corners. As the market capitalization gains evaporated that had been used to justify the “end justifies the means” rationale, little is left of his legacy.Research limitations/implicationsThe paper discusses the implications of the GE case for issues associated with corporate governance, financialization and human resource management.Originality/valueThis is a timely reconsideration of the Jack Welch legacy two years after his death. In avoiding polemics and seeking a considered assessment of his positive and negative outcomes, the paper is an important addition to the research on Welch and American management thought.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42925430","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}
Pub Date : 2023-07-17DOI: 10.1108/emjb-03-2023-0093
V. Brescia, P. Esposito, S. Amelio, P. Biancone
PurposeThe COVID-19 pandemic has generated a crisis that has hit the European economy and the currently existing systems. To cope with the crisis, Europe has started an investment aiming the energy transition and crisis. Portugal, Spain and Greece have received the approval of their National Recovery Plans from the European Commission, with a definition of spending up to 2026 through the European Union (EU) Next Generation Found. The study investigates whether the Green Deal policies are relaunched by the plans financed and whether the pandemic has changed and conditioned the priorities of the energy transaction. The study uses the lens of corporate social responsability (CSR) and relapse measurable across the Sustainable Development Goals (SDGs).Design/methodology/approachThe Green Deal policies supported by new European investments in the three countries were analyzed through a content analysis (CA) technique to investigate the associated practical and theoretical elements.FindingsThe energy theme has a relevance compared to other issues in the investment plans envisaged in Greece, Portugal and Spain. The analysis highlights energy efficiency, sustainable energy and reduction of consumption among the main themes. Energetically, sustainable building plays a central role. The study highlights the relationship between Green Deal policies, CSR, SDGs and management tools adopted.Originality/valueThe study strengthens the relationship between the Green Deal, CSR and SDGs by identifying policies that have already been implemented and theoretical and practical gaps on which politicians and scholars will have to investigate and support in the process of development and continuity of the identified pillars.
{"title":"Rethinking green investment and corporate sustainability: the south European countries experiences during the COVID-19 crisis","authors":"V. Brescia, P. Esposito, S. Amelio, P. Biancone","doi":"10.1108/emjb-03-2023-0093","DOIUrl":"https://doi.org/10.1108/emjb-03-2023-0093","url":null,"abstract":"PurposeThe COVID-19 pandemic has generated a crisis that has hit the European economy and the currently existing systems. To cope with the crisis, Europe has started an investment aiming the energy transition and crisis. Portugal, Spain and Greece have received the approval of their National Recovery Plans from the European Commission, with a definition of spending up to 2026 through the European Union (EU) Next Generation Found. The study investigates whether the Green Deal policies are relaunched by the plans financed and whether the pandemic has changed and conditioned the priorities of the energy transaction. The study uses the lens of corporate social responsability (CSR) and relapse measurable across the Sustainable Development Goals (SDGs).Design/methodology/approachThe Green Deal policies supported by new European investments in the three countries were analyzed through a content analysis (CA) technique to investigate the associated practical and theoretical elements.FindingsThe energy theme has a relevance compared to other issues in the investment plans envisaged in Greece, Portugal and Spain. The analysis highlights energy efficiency, sustainable energy and reduction of consumption among the main themes. Energetically, sustainable building plays a central role. The study highlights the relationship between Green Deal policies, CSR, SDGs and management tools adopted.Originality/valueThe study strengthens the relationship between the Green Deal, CSR and SDGs by identifying policies that have already been implemented and theoretical and practical gaps on which politicians and scholars will have to investigate and support in the process of development and continuity of the identified pillars.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46802022","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}
Pub Date : 2023-07-14DOI: 10.1108/emjb-04-2023-0121
Hani El Chaarani, Zouhour EL Abiad, Sam El Nemar, Georgia Sakka
PurposeThis study contributes to examining the factors that drive the adoption of cryptocurrencies for financial transactions in the tourism and hospitality industries. This is crucial to develop tourism and hospitality and stimulate financial inclusion in developing and developed countries.Design/methodology/approachThis research paper employs the SEM model and bootstrapping method on a sample of 417 French participants involved in tourism and hospitality industries to reveal the causal pathway between a set of independent factors and the willingness to adopt cryptocurrencies for financial transactions.FindingsThe empirical findings reveal that ease of use, perceived usefulness, social influence, and financial literacy increase the willingness to use cryptocurrencies. French hotels need to have a strategic orientation, to deal with customers, competitors and changing technological environment. The study also reveals that social influence and financial literacy reduce the level of perceived financial risk and thus, leads to increase the intention to adopt the new type of decentralized currencies.Originality/valueIn contrast to previous studies that focused on the volatility and risk of cryptocurrencies, this research employs a human-centric approach covering different factors that could lead to the adoption of the new type of currency for financial transactions in tourism and hospitality industries.
{"title":"Factors affecting the adoption of cryptocurrencies for financial transactions","authors":"Hani El Chaarani, Zouhour EL Abiad, Sam El Nemar, Georgia Sakka","doi":"10.1108/emjb-04-2023-0121","DOIUrl":"https://doi.org/10.1108/emjb-04-2023-0121","url":null,"abstract":"PurposeThis study contributes to examining the factors that drive the adoption of cryptocurrencies for financial transactions in the tourism and hospitality industries. This is crucial to develop tourism and hospitality and stimulate financial inclusion in developing and developed countries.Design/methodology/approachThis research paper employs the SEM model and bootstrapping method on a sample of 417 French participants involved in tourism and hospitality industries to reveal the causal pathway between a set of independent factors and the willingness to adopt cryptocurrencies for financial transactions.FindingsThe empirical findings reveal that ease of use, perceived usefulness, social influence, and financial literacy increase the willingness to use cryptocurrencies. French hotels need to have a strategic orientation, to deal with customers, competitors and changing technological environment. The study also reveals that social influence and financial literacy reduce the level of perceived financial risk and thus, leads to increase the intention to adopt the new type of decentralized currencies.Originality/valueIn contrast to previous studies that focused on the volatility and risk of cryptocurrencies, this research employs a human-centric approach covering different factors that could lead to the adoption of the new type of currency for financial transactions in tourism and hospitality industries.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41854818","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}
Pub Date : 2023-07-05DOI: 10.1108/emjb-01-2023-0010
T. Hakami, Omar Sabri, Bassam Al-Shargabi, Mohd Mohid Rahmat, Osama Nashat Attia
PurposeThis study aims to examine the present condition of blockchain technology (BT) applications in auditing by analyzing journal publications on the topic to acquire a better understanding of the field.Design/methodology/approachThis study makes use of the Bibliometric Analysis method and gathered 725 papers from the Web of Science and Scopus databases in the management and accounting, business, financial, economic and social science, as well as decision sciences fields from 2017 to 2021 using the R-Package Bibliometrix Analysis “biblioshiny”.FindingsThe findings revealed that blockchain research in terms of auditing has already increased and started to spark a quick rise in popularity, but is still in its initial phases with important quality though less in quantity. Moreover, the Journal of Emerging Technologies in Accounting is the most prolific journal with 2019 as the highest publication year, with the United States and China as the most cited countries in this field. Furthermore, in this field, there are much research topics involving blockchain, audit and smart contracts; and there is less involving data analytics, governance, hyperledger, distributed ledger and financial reporting. Additionally, Sheldon (2019) and Smith and Castonguay (2020) are the most productive authors in the field in terms of the H-index.Research limitations/implicationsThis study has certain limitations such as the fact that it only looked at 105 papers in the domains of finance, business, economics, accounting, management as well as multidisciplinary science. Moreover, the research’s data and dates have an impact on the results dependability. As this is an original topic, fresh studies are anticipated to remain to shine a spotlight on and suggest answers to blockchain’s implications on auditing. Additionally, the period of time was limited to only the last five years, from 2017 to 2021. As a result, extensive study into the topic is required since there is currently a research deficit in the blockchain field in the setting of auditing. So, new research is required to offer new frameworks and understandings for describing the blockchain function in auditing, including processes, techniques, security, as well as timeliness. Investigations in unique circumstances and research employing innovative research methodologies for discovering the new issue would be valuable in acquiring a higher grasp of the complexities faced.Originality/valueThis research contributed to the field by assessing the present state of the art of research on the usage and use of BT in finding research gaps, the audit profession and, most importantly, recommending a future direction for researchers in the subject.
目的本研究旨在通过分析有关区块链技术(BT)在审计中的应用现状，以更好地了解该领域。本研究采用文献计量分析方法，使用R-Package Bibliometrix Analysis“biblioshiny”，从Web of Science和Scopus数据库中收集了2017年至2021年管理与会计、商业、金融、经济和社会科学以及决策科学领域的725篇论文。调查结果显示，区块链在审计方面的研究已经有所增加，并开始引发迅速上升的人气，但仍处于起步阶段，质量重要，但数量较少。此外，《会计新兴技术杂志》(Journal of Emerging Technologies in Accounting)是最多产的期刊，2019年是出版最多的年份，美国和中国是该领域被引用最多的国家。此外，在这一领域，有很多研究课题涉及区块链、审计和智能合约;涉及数据分析、治理、超级账本、分布式账本和财务报告的内容也较少。此外，就h指数而言，Sheldon(2019)和Smith and castonway(2020)是该领域最具生产力的作者。研究的局限性/启示这项研究有一定的局限性，比如它只研究了金融、商业、经济、会计、管理以及多学科科学领域的105篇论文。此外，研究的数据和日期对结果的可靠性也有影响。由于这是一个原创话题，预计新的研究将继续关注b区块链对审计的影响，并提出答案。此外，这段时间仅限于过去五年，从2017年到2021年。因此，由于目前在审计背景下区块链领域的研究存在缺陷，因此需要对该主题进行广泛的研究。因此，需要进行新的研究，为描述审计中的区块链功能提供新的框架和理解，包括流程、技术、安全性和及时性。在特殊情况下进行调查和采用创新的研究方法来发现新问题，对于更好地掌握所面临的复杂性是很有价值的。原创性/价值本研究通过评估BT的使用和使用的研究现状，发现研究差距，审计专业，最重要的是，为该主题的研究人员推荐未来的方向，为该领域做出了贡献。
{"title":"A critical review of auditing at the time of blockchain technology – a bibliometric analysis","authors":"T. Hakami, Omar Sabri, Bassam Al-Shargabi, Mohd Mohid Rahmat, Osama Nashat Attia","doi":"10.1108/emjb-01-2023-0010","DOIUrl":"https://doi.org/10.1108/emjb-01-2023-0010","url":null,"abstract":"PurposeThis study aims to examine the present condition of blockchain technology (BT) applications in auditing by analyzing journal publications on the topic to acquire a better understanding of the field.Design/methodology/approachThis study makes use of the Bibliometric Analysis method and gathered 725 papers from the Web of Science and Scopus databases in the management and accounting, business, financial, economic and social science, as well as decision sciences fields from 2017 to 2021 using the R-Package Bibliometrix Analysis “biblioshiny”.FindingsThe findings revealed that blockchain research in terms of auditing has already increased and started to spark a quick rise in popularity, but is still in its initial phases with important quality though less in quantity. Moreover, the Journal of Emerging Technologies in Accounting is the most prolific journal with 2019 as the highest publication year, with the United States and China as the most cited countries in this field. Furthermore, in this field, there are much research topics involving blockchain, audit and smart contracts; and there is less involving data analytics, governance, hyperledger, distributed ledger and financial reporting. Additionally, Sheldon (2019) and Smith and Castonguay (2020) are the most productive authors in the field in terms of the H-index.Research limitations/implicationsThis study has certain limitations such as the fact that it only looked at 105 papers in the domains of finance, business, economics, accounting, management as well as multidisciplinary science. Moreover, the research’s data and dates have an impact on the results dependability. As this is an original topic, fresh studies are anticipated to remain to shine a spotlight on and suggest answers to blockchain’s implications on auditing. Additionally, the period of time was limited to only the last five years, from 2017 to 2021. As a result, extensive study into the topic is required since there is currently a research deficit in the blockchain field in the setting of auditing. So, new research is required to offer new frameworks and understandings for describing the blockchain function in auditing, including processes, techniques, security, as well as timeliness. Investigations in unique circumstances and research employing innovative research methodologies for discovering the new issue would be valuable in acquiring a higher grasp of the complexities faced.Originality/valueThis research contributed to the field by assessing the present state of the art of research on the usage and use of BT in finding research gaps, the audit profession and, most importantly, recommending a future direction for researchers in the subject.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43601060","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}
Pub Date : 2023-06-15DOI: 10.1108/emjb-10-2022-0182
Wafa Abdelmalek
PurposeThis study investigates the diversification benefits of multiple cryptocurrencies and their usefulness as investment assets, individually or combined, in enhancing the performance of a well-diversified portfolio of traditional assets before and during the pandemic COVID-19.Design/methodology/approachThis paper uses two optimization techniques, namely the mean-variance and the maximum Sharpe ratio. The naïve diversification rules are used for comparison. Besides, the Sharpe and the Sortino ratios are used as performance measures.FindingsThe results show that cryptocurrencies diversification benefits occur more during the COVID-19 pandemic rather than before it, with the maximum Sharpe ratio portfolio presenting its highest performance. Furthermore, the results suggest that, during COVID-19, the diversification benefits are slightly better when using a combination of cryptocurrencies to an already well-diversified portfolio of traditional assets rather than individual ones. This serves to improve the performance of the maximum Sharpe ratio portfolio, and to some extent, the naïve portfolio. Yet, cryptocurrencies, whether added individually or combined to a well-diversified portfolio of traditional assets, don't fit in the minimum variance portfolio. Besides, the efficient frontier during COVID-19 pandemic dominates the one before COVID-19 pandemic, giving the investor a better risk-return trade-off.Originality/valueTo the best of the author's knowledge, this is the first study that examines the diversification benefits of multiple cryptocurrencies both as individual investments and as additional asset classes, before and during COVID-19 pandemic. The paper covers all analyses performed separately in previous studies, which brings new evidence regarding the potential for cryptocurrencies in portfolio diversification under different portfolio strategies.
{"title":"Cryptocurrencies and portfolio diversification before and during COVID-19","authors":"Wafa Abdelmalek","doi":"10.1108/emjb-10-2022-0182","DOIUrl":"https://doi.org/10.1108/emjb-10-2022-0182","url":null,"abstract":"PurposeThis study investigates the diversification benefits of multiple cryptocurrencies and their usefulness as investment assets, individually or combined, in enhancing the performance of a well-diversified portfolio of traditional assets before and during the pandemic COVID-19.Design/methodology/approachThis paper uses two optimization techniques, namely the mean-variance and the maximum Sharpe ratio. The naïve diversification rules are used for comparison. Besides, the Sharpe and the Sortino ratios are used as performance measures.FindingsThe results show that cryptocurrencies diversification benefits occur more during the COVID-19 pandemic rather than before it, with the maximum Sharpe ratio portfolio presenting its highest performance. Furthermore, the results suggest that, during COVID-19, the diversification benefits are slightly better when using a combination of cryptocurrencies to an already well-diversified portfolio of traditional assets rather than individual ones. This serves to improve the performance of the maximum Sharpe ratio portfolio, and to some extent, the naïve portfolio. Yet, cryptocurrencies, whether added individually or combined to a well-diversified portfolio of traditional assets, don't fit in the minimum variance portfolio. Besides, the efficient frontier during COVID-19 pandemic dominates the one before COVID-19 pandemic, giving the investor a better risk-return trade-off.Originality/valueTo the best of the author's knowledge, this is the first study that examines the diversification benefits of multiple cryptocurrencies both as individual investments and as additional asset classes, before and during COVID-19 pandemic. The paper covers all analyses performed separately in previous studies, which brings new evidence regarding the potential for cryptocurrencies in portfolio diversification under different portfolio strategies.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48058066","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}
Pub Date : 2023-06-09DOI: 10.1108/emjb-10-2022-0190
Andreas G. Koutoupis, Leonidas G. Davidopoulos, Jamel Azibi, A. Hakimi, Hatem Mansali
PurposeThe authors examine the effect of greenhouse gas (ghg) assurance on cost of debt, and the effect of board gender diversity on cost of debt, for an international sample of listed companies.Design/methodology/approachUtilizing firm-level data and a quantile regression approach, this study examines the effects of greenhouse gas assurance and board diversity on cost of debt by employing an international sample of firms during 2015–2021.FindingsThe authors find that in firms with a relatively low cost of debt the external assurance of greenhouse gas emissions and gender diversity could significantly contribute to a reduction of cost of debt. Furthermore, other measures of board diversity that are linked with independent directors and skilled directors seem to contribute to an increase of firms' cost of debt in the lower end of distribution. Drawing from the agency theory, the authors showcase the fact that ghg assurance reduces information asymmetry and therefore agency costs such as borrowing costs and signals to the stakeholders a long-term commitment to excellence.Originality/valueThis study is the first that provides insights on the relationship between ghg assurance, board diversity and cost of debt.
{"title":"Greenhouse gas assurance, board diversity and cost of debt: a quantile approach","authors":"Andreas G. Koutoupis, Leonidas G. Davidopoulos, Jamel Azibi, A. Hakimi, Hatem Mansali","doi":"10.1108/emjb-10-2022-0190","DOIUrl":"https://doi.org/10.1108/emjb-10-2022-0190","url":null,"abstract":"PurposeThe authors examine the effect of greenhouse gas (ghg) assurance on cost of debt, and the effect of board gender diversity on cost of debt, for an international sample of listed companies.Design/methodology/approachUtilizing firm-level data and a quantile regression approach, this study examines the effects of greenhouse gas assurance and board diversity on cost of debt by employing an international sample of firms during 2015–2021.FindingsThe authors find that in firms with a relatively low cost of debt the external assurance of greenhouse gas emissions and gender diversity could significantly contribute to a reduction of cost of debt. Furthermore, other measures of board diversity that are linked with independent directors and skilled directors seem to contribute to an increase of firms' cost of debt in the lower end of distribution. Drawing from the agency theory, the authors showcase the fact that ghg assurance reduces information asymmetry and therefore agency costs such as borrowing costs and signals to the stakeholders a long-term commitment to excellence.Originality/valueThis study is the first that provides insights on the relationship between ghg assurance, board diversity and cost of debt.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44546374","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}
Pub Date : 2023-06-05DOI: 10.1108/emjb-10-2022-0177
Antonios Georgopoulos, E. Aggelopoulos, E. Paraschi, M. Kalogera
PurposeThis paper aims to examine the effect of R&D laboratories on the perceived performance of MNE subsidiaries during recession.Design/methodology/approachEmploying resource-based view and knowledge-based theory, the authors investigate a unique sample of 171 technologically heterogenous foreign MNE subsidiaries located in Greece over the period of recession 2009–2016. The sample subsidiaries operate different types of R&D laboratories.FindingsThe authors find that MNE subsidiaries with advanced R&D laboratories such as locally integrated laboratories (LILs) and internationally interdependent laboratories (IILs) perform better in recession than subsidiaries with support laboratories (SLs) or subsidiaries without R&D laboratories. Overall, the authors find an asymmetric performance contribution of R&D laboratories at subsidiary level.Originality/valueThe study provides useful insights into the environmentally derived “knowledge-based - performance” context, so filling an important research gap, since little is known about the performance impact of the input-side of technological activity at MNE subsidiary level, especially as regards R&D facilities/infrastructure. Based on the findings the authors identify important managerial implications.
{"title":"The effect of R & D laboratories on MNE subsidiary performance: a primary survey in a European Mediterranean country","authors":"Antonios Georgopoulos, E. Aggelopoulos, E. Paraschi, M. Kalogera","doi":"10.1108/emjb-10-2022-0177","DOIUrl":"https://doi.org/10.1108/emjb-10-2022-0177","url":null,"abstract":"PurposeThis paper aims to examine the effect of R&D laboratories on the perceived performance of MNE subsidiaries during recession.Design/methodology/approachEmploying resource-based view and knowledge-based theory, the authors investigate a unique sample of 171 technologically heterogenous foreign MNE subsidiaries located in Greece over the period of recession 2009–2016. The sample subsidiaries operate different types of R&D laboratories.FindingsThe authors find that MNE subsidiaries with advanced R&D laboratories such as locally integrated laboratories (LILs) and internationally interdependent laboratories (IILs) perform better in recession than subsidiaries with support laboratories (SLs) or subsidiaries without R&D laboratories. Overall, the authors find an asymmetric performance contribution of R&D laboratories at subsidiary level.Originality/valueThe study provides useful insights into the environmentally derived “knowledge-based - performance” context, so filling an important research gap, since little is known about the performance impact of the input-side of technological activity at MNE subsidiary level, especially as regards R&D facilities/infrastructure. Based on the findings the authors identify important managerial implications.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45386596","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}
Pub Date : 2023-05-18DOI: 10.1108/emjb-11-2022-0202
A. Dimitras, Ioannis G. Dokas, Olga Mamou, Eleftherios Spyromitros
PurposeThe scope of this research is to investigate performing loan efficiency for fifty European banks during the period 2008–2017.Design/methodology/approachThe study is structured as a two-stage analysis of performing loan efficiency and its driving factors. In the first stage of the proposed methodology “Data Envelopment Analysis” is used to estimate performing loan efficiency for each bank included in the sample. A bootstrap statistical procedure enhances the findings. In the second stage, the impact of other factors on the efficiency scores of loan performance using tobit regression is investigated.FindingsThe results are consistent with the findings of the individual banks' financial analyses. According to the findings of DEA implementation, the evaluated banks may enhance their cost efficiency by 39% on average. In addition, the results indicate that loan efficiency performance improves after 2015, coinciding with the business cycle's upward trend. The tobit regression is employed in the second stage to examine the influence of bank-related and macroeconomic factors on banks' loan management efficiency. According to the findings of the tobit regression, three factors, namely the capital adequacy ratio, GDP per capita and managerial inefficiency, have a substantial influence on performing loan efficiency.Originality/valueThis research investigates the effectiveness of European economic policy in protecting the European banking system from the consequences of the sovereign debt crisis in several euro area members. The results highlight the distance of the Eurozone from the level of the ‘optimal currency area’.
{"title":"Investigating the performance of European banks using non-parametric techniques: the role of performing loans efficiency","authors":"A. Dimitras, Ioannis G. Dokas, Olga Mamou, Eleftherios Spyromitros","doi":"10.1108/emjb-11-2022-0202","DOIUrl":"https://doi.org/10.1108/emjb-11-2022-0202","url":null,"abstract":"PurposeThe scope of this research is to investigate performing loan efficiency for fifty European banks during the period 2008–2017.Design/methodology/approachThe study is structured as a two-stage analysis of performing loan efficiency and its driving factors. In the first stage of the proposed methodology “Data Envelopment Analysis” is used to estimate performing loan efficiency for each bank included in the sample. A bootstrap statistical procedure enhances the findings. In the second stage, the impact of other factors on the efficiency scores of loan performance using tobit regression is investigated.FindingsThe results are consistent with the findings of the individual banks' financial analyses. According to the findings of DEA implementation, the evaluated banks may enhance their cost efficiency by 39% on average. In addition, the results indicate that loan efficiency performance improves after 2015, coinciding with the business cycle's upward trend. The tobit regression is employed in the second stage to examine the influence of bank-related and macroeconomic factors on banks' loan management efficiency. According to the findings of the tobit regression, three factors, namely the capital adequacy ratio, GDP per capita and managerial inefficiency, have a substantial influence on performing loan efficiency.Originality/valueThis research investigates the effectiveness of European economic policy in protecting the European banking system from the consequences of the sovereign debt crisis in several euro area members. The results highlight the distance of the Eurozone from the level of the ‘optimal currency area’.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46240488","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}
Pub Date : 2023-04-26DOI: 10.1108/emjb-09-2022-0175
E. Nave, João Ferreira
PurposeEngaging in international business (IB) is a particular challenge to small and medium-sized companies (SMEs), representing a condition to ensure growth and longevity. Due to their limitations of tangible resources, these companies make use of their levels of knowledge and capabilities to reach new markets. This study seeks to ascertain the role, the typologies of the knowledge and capabilities required for access to IB, and how benefits may arise for SMEs from their international experience.Design/methodology/approachTo achieve these objectives, the authors ground the insights on a qualitative study that gathered data from ten semi-structured interviews with leading entrepreneurs engaged in IB. The data were analysed resorting to the QSR Nvivo software.FindingsThe results demonstrate how (1) knowledge and the development of dynamic capabilities all represent determinant facets to engaging in IB and that (2) the knowledge and learning capabilities acquired and developed in IB context also result in positive returns in domestic markets.Originality/valueDespite the rising of IB studies, the interaction between knowledge and capabilities from the perspective of accessing international markets has not received attention enough from scholars. The authors argue that both constructs must act together to reach and maximize the IB of SMEs and provide evidence that engagement abroad brings several other advantages beyond economic returns.
{"title":"Knowledge and capabilities: what are their roles in international business of SMEs?","authors":"E. Nave, João Ferreira","doi":"10.1108/emjb-09-2022-0175","DOIUrl":"https://doi.org/10.1108/emjb-09-2022-0175","url":null,"abstract":"PurposeEngaging in international business (IB) is a particular challenge to small and medium-sized companies (SMEs), representing a condition to ensure growth and longevity. Due to their limitations of tangible resources, these companies make use of their levels of knowledge and capabilities to reach new markets. This study seeks to ascertain the role, the typologies of the knowledge and capabilities required for access to IB, and how benefits may arise for SMEs from their international experience.Design/methodology/approachTo achieve these objectives, the authors ground the insights on a qualitative study that gathered data from ten semi-structured interviews with leading entrepreneurs engaged in IB. The data were analysed resorting to the QSR Nvivo software.FindingsThe results demonstrate how (1) knowledge and the development of dynamic capabilities all represent determinant facets to engaging in IB and that (2) the knowledge and learning capabilities acquired and developed in IB context also result in positive returns in domestic markets.Originality/valueDespite the rising of IB studies, the interaction between knowledge and capabilities from the perspective of accessing international markets has not received attention enough from scholars. The authors argue that both constructs must act together to reach and maximize the IB of SMEs and provide evidence that engagement abroad brings several other advantages beyond economic returns.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49117730","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}
Pub Date : 2023-04-25DOI: 10.1108/emjb-04-2022-0085
Iacopo Cavallini, D. Marzo, L. Scaccia, S. Scipioni, F. Niccolini
PurposeScuba diving tourism is reputed to be a potential low-impact recreational activity that allow environmental conservation and socioeconomic benefits for local communities. Few studies have addressed the issue of sustainability of scuba diving tourism through the simultaneously investigation on the economic and socio-cultural aspects and its implications for tourism development. This study aims to examine the scuba diving tourism in three under-explored North African tourism destinations with high ecotourist potential. The authors present an exploratory picture of scuba diving tourist demand, divers' preferences, motivations for recreational diving experiences and their propensity towards conservation.Design/methodology/approachThe authors developed a case study research strategy collecting profile data on 123 divers. Furthermore, regression analysis was performed to investigate the divers' preferences, motivations and propensity towards conservation.FindingsThe divers' limited number, the presence of mainly local seasonal tourists and a moderate propensity towards conservation influence the potential of the diving tourism segment to generate significant socioeconomic benefits for local sustainable development in these destinations. However, establishing a marine protected area (MPA) could foster the development of a long-term strategy for scuba diving tourism, improve conservation awareness and increase divers' satisfaction.Practical implicationsDiverse profiles, preferences and motivations can provide tools to sustainably manage and preserve coastal and marine biodiversity, while also maximising the quality of the recreational experience. One of the most effective site-based strategies to orient the diving sector towards sustainability involves the design and strengthening of MPAs.Originality/valueThe research provides an original contribution to the debate on sustainable tourism strategies by demonstrating how the study of economic and socio-cultural aspects of scuba diving could provide guidelines to orient the tourism development of marine and coastal areas towards the principles of sustainability (also through the establishment of MPAs). The findings present an overview of the sustainability of the scuba diving tourism segment by investigating the preferences, motivations and inclination towards conservation among tourists for whom the diving experience is not a core holiday activity.
{"title":"Scuba diving tourism and the challenge of sustainability: evidence from an explorative study in North African-Mediterranean countries","authors":"Iacopo Cavallini, D. Marzo, L. Scaccia, S. Scipioni, F. Niccolini","doi":"10.1108/emjb-04-2022-0085","DOIUrl":"https://doi.org/10.1108/emjb-04-2022-0085","url":null,"abstract":"PurposeScuba diving tourism is reputed to be a potential low-impact recreational activity that allow environmental conservation and socioeconomic benefits for local communities. Few studies have addressed the issue of sustainability of scuba diving tourism through the simultaneously investigation on the economic and socio-cultural aspects and its implications for tourism development. This study aims to examine the scuba diving tourism in three under-explored North African tourism destinations with high ecotourist potential. The authors present an exploratory picture of scuba diving tourist demand, divers' preferences, motivations for recreational diving experiences and their propensity towards conservation.Design/methodology/approachThe authors developed a case study research strategy collecting profile data on 123 divers. Furthermore, regression analysis was performed to investigate the divers' preferences, motivations and propensity towards conservation.FindingsThe divers' limited number, the presence of mainly local seasonal tourists and a moderate propensity towards conservation influence the potential of the diving tourism segment to generate significant socioeconomic benefits for local sustainable development in these destinations. However, establishing a marine protected area (MPA) could foster the development of a long-term strategy for scuba diving tourism, improve conservation awareness and increase divers' satisfaction.Practical implicationsDiverse profiles, preferences and motivations can provide tools to sustainably manage and preserve coastal and marine biodiversity, while also maximising the quality of the recreational experience. One of the most effective site-based strategies to orient the diving sector towards sustainability involves the design and strengthening of MPAs.Originality/valueThe research provides an original contribution to the debate on sustainable tourism strategies by demonstrating how the study of economic and socio-cultural aspects of scuba diving could provide guidelines to orient the tourism development of marine and coastal areas towards the principles of sustainability (also through the establishment of MPAs). The findings present an overview of the sustainability of the scuba diving tourism segment by investigating the preferences, motivations and inclination towards conservation among tourists for whom the diving experience is not a core holiday activity.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":" ","pages":""},"PeriodicalIF":5.2,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46257523","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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