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Investigating the unexpected determinants of cryptocurrency adoption in the UAE 调查阿联酋采用加密货币的意外决定因素
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-30 DOI: 10.1108/ijoem-06-2023-0924
Devid Jegerson, Charilaos Mertzanis, Mehmood Khan
Purpose Financial inclusion provides access to financial infrastructure, facilitating money transfers. Therefore, blockchain and cryptocurrencies might boost worldwide financial acceptance. However, the UAE has one of the lowest cryptocurrency adoption rates. This study explores the UAE customer adoption and use of cryptocurrencies. Design/methodology/approach Using a scale, the authors created a structural model and obtained 270 responses from a snowball-distributed online questionnaire, assessed by five cryptocurrency specialists. Findings Performance expectations (PE), price value (PV), Hedonic motivation (HM) and consumer innovativeness (CI) were the most significant predictors of behavioural intention (BI). Surprisingly, BI is not a reliable indication of actual consumption. Facilitating conditions (FC) are the most accurate predictor of cryptocurrency usage (CU), indicating that adoption might be increased by providing the necessary structures and processes to lead users. Research limitations/implications This research adds to the body of knowledge by examining the adoption and implementation of cryptocurrencies in the UAE and by developing and evaluating new constructs based on current notions. The study also contributes to the current understanding of cryptocurrencies and blockchain adoption. Practical implications The conclusions of the research advise marketers on how to boost the commercialisation of cryptocurrencies in the UAE market and may pave the way for other studies to assist impending developments in the UAE cryptocurrency industry. Originality/value This research offers novel insights into significant predictors of cryptocurrency product uptake in the financial and banking business.
普惠金融提供金融基础设施,促进资金转移。因此,区块链和加密货币可能会提高全球金融的接受度。然而,阿联酋是加密货币采用率最低的国家之一。本研究探讨了阿联酋客户对加密货币的采用和使用。设计/方法/方法使用量表,作者创建了一个结构模型,并从滚雪球式分发的在线问卷中获得了270个回答,由五位加密货币专家评估。结果:绩效预期(PE)、价格价值(PV)、享乐动机(HM)和消费者创新(CI)是行为意向(BI)的最显著预测因子。令人惊讶的是,BI并不是实际消费的可靠指标。便利条件(FC)是加密货币使用(CU)的最准确预测指标,表明通过提供必要的结构和流程来引导用户,可能会增加采用率。本研究通过研究阿联酋加密货币的采用和实施,以及基于当前概念开发和评估新结构,增加了知识体系。该研究还有助于当前对加密货币和区块链采用的理解。该研究的结论为营销人员提供了如何促进阿联酋市场加密货币商业化的建议,并可能为其他研究铺平道路,以协助阿联酋加密货币行业即将到来的发展。独创性/价值这项研究为金融和银行业务中加密货币产品吸收的重要预测因素提供了新的见解。
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引用次数: 0
The influence of e-satisfaction on users' e-loyalty toward e-wallet payment apps: a mediated-moderated model 电子满意度对用户对电子钱包支付应用的电子忠诚度的影响:一个中介-调节模型
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-19 DOI: 10.1108/ijoem-08-2022-1313
Manaf Al-Okaily
Purpose The purpose of this study is to investigate the antecedent factors influencing e-loyalty toward e-wallet payment apps in developing countries (e.g. Jordan). This study also investigates the mediating role of perceived usefulness (PU) and the moderating role of electronic word of mouth (e-WOM) toward these apps. Design/methodology/approach An online questionnaire was used for data collection from 251 actual users of e-wallet payment apps. To estimate and test the research-proposed model, the partial least squares structural equation modeling (PLS-SEM) was employed. Findings The results mainly confirm that perceived trust (PT), perceived financial cost (PFC) and perceived ease of use were found to be determinants of PU; perceived security (PS), PT, PFC, perceived ease of use and perceived enjoyment (PE) were found to be determinants of e-satisfaction, whereas e-satisfaction and e-WOM were found to be determinants of e-loyalty toward e-wallet payment apps. Likewise, the results support the significant effect of the moderating effect of e-WOM. Conversely, the direct and indirect impact of PU and perceived health benefits (PHB) on e-satisfaction is not supported; therefore, hypotheses H4, H5 and H9 were rejected. Originality/value This study contributes to the understanding of the critical success factors underlying e-wallet apps during and post-COVID-19 era, which can help policymakers in banks and other financial institutions (service providers) to increase the diffusion rate of financial inclusion by the usage of e-wallet apps.
本研究的目的是调查影响发展中国家(如约旦)电子钱包支付应用的电子忠诚度的前因因素。本研究还探讨了感知有用性(PU)的中介作用和电子口碑(e-WOM)对这些应用的调节作用。设计/方法/方法采用在线调查问卷的方式,对251名电子钱包支付应用的实际用户进行数据收集。为了对研究提出的模型进行估计和检验,采用了偏最小二乘结构方程模型(PLS-SEM)。结果主要证实了感知信任(PT)、感知财务成本(PFC)和感知易用性是PU的决定因素;感知安全性(PS)、PT、PFC、感知易用性和感知享受(PE)被发现是电子满意度的决定因素,而电子满意度和电子口碑被发现是电子钱包支付应用的电子忠诚度的决定因素。同样,研究结果支持电子口碑的调节效应显著。相反,不支持PU和感知健康益处(PHB)对电子满意度的直接和间接影响;因此,假设H4、H5和H9被拒绝。本研究有助于理解新冠肺炎期间和后新冠时代电子钱包应用的关键成功因素,有助于银行和其他金融机构(服务提供商)的政策制定者通过使用电子钱包应用提高普惠金融的扩散率。
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引用次数: 2
The impact of cryptocurrencies capitalization on banking deposits variability in the UAE: evidence from the NARDL approach 加密货币资本化对阿联酋银行存款可变性的影响:来自NARDL方法的证据
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-17 DOI: 10.1108/ijoem-03-2023-0351
Hatem Ahmed Adela
Purpose This study aims to analyze the effect of cryptocurrency capitalization market development on bank deposits variability in the United Arab Emirates (UAE) spanning the period 2005M1–2020M4 using the novel nonlinear autoregressive distributive lag (NARDL). Design/methodology/approach The study employs the NARDL recently developed by Shin et al . (2014) to estimate the long and short-run relationships between the variables rather than the widely known ARDL (Pesaran et al., 2001), which suffers from a complex structure in the estimation equation that usually includes lags and differences in both short and long terms. The implementation of NARDL required several proceedings after plotting the descriptive data, commencing with unit root tests, selection of lag length, estimating the long-and-short variables coefficients, heteroscedasticity test and Wald test for symmetries. Findings The long-run estimations of the positive and negative asymmetric coefficients indicate that cryptocurrencies capitalization has a negative impact on bank deposits in the UAE. Further, the short-run estimations coefficients exhibit that both significant positive and negative partial sum squares of cryptocurrencies decrease bank deposits. Research limitations/implications The study has applied to the UAE spanning the period 2005M1–2020M4 using the NARDL. Practical implications The short-run estimations coefficients exhibit that both significant positive and negative partial sum squares of cryptocurrencies decreases bank deposits, which means that the increase in the magnitude of cryptocurrencies capitalization stimulates depositors and speculators to adjust their portfolios towards contracting their deposits in banks to invest partially in cryptocurrencies, on the other hand, the decline in cryptocurrencies capitalization process spur depositors and speculators to reduce their deposits for purchasing cryptocurrencies at lower prices. Social implications The study infers that individuals and businesses are cautious when investing in cryptocurrencies, and they need more certainty and trust to include these types of assets in their portfolios. The fluctuation in cryptocurrencies capitalization prompts speculators to change their deposits according to the cryptocurrencies' prices. Originality/value This study explores the short-and long-run asymmetric impacts of cryptocurrencies capitalization development on bank deposits volatility in the UAE, based on a NARDL, for providing a manifest depiction of whether the cryptocurrencies industry might be a threat to conventional banking system performance in the potential future.
本研究旨在利用新型非线性自回归分布滞后(NARDL)分析2005年m1 - 2020m4期间阿拉伯联合酋长国(UAE)加密货币资本化市场发展对银行存款变异性的影响。设计/方法/方法本研究采用了Shin等人最近开发的NARDL。(2014)来估计变量之间的长期和短期关系,而不是广为人知的ARDL (Pesaran et al., 2001),后者在估计方程中存在复杂的结构,通常包括短期和长期的滞后和差异。从单位根检验、滞后长度的选择、长、短变量系数的估计、异方差检验和Wald检验等对描述性数据进行绘制后,实施了NARDL。对正非对称系数和负非对称系数的长期估计表明,加密货币资本化对阿联酋的银行存款有负面影响。此外,短期估计系数表明,加密货币的显著正负部分平方和都会减少银行存款。研究的局限性/意义本研究使用NARDL应用于阿联酋2005年m1 - 2020m4期间。短期估计系数表明,加密货币的显著正负部分平方和都会减少银行存款,这意味着加密货币资本化程度的增加会刺激存款人和投机者调整他们的投资组合,收缩他们在银行的存款,以部分投资于加密货币。加密货币资本化过程的下降刺激储户和投机者减少存款,以更低的价格购买加密货币。该研究推断,个人和企业在投资加密货币时都是谨慎的,他们需要更多的确定性和信任来将这些类型的资产纳入他们的投资组合。加密货币资本化的波动促使投机者根据加密货币的价格改变他们的存款。本研究基于NARDL,探讨了加密货币资本化发展对阿联酋银行存款波动性的短期和长期不对称影响,以明确描述加密货币行业在潜在的未来是否可能对传统银行体系的绩效构成威胁。
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引用次数: 0
Business environment and productivity in Africa: macro evidence 非洲的商业环境和生产力:宏观证据
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-16 DOI: 10.1108/ijoem-07-2022-1059
Issahaku Haruna, Charles Godfred Ackah
Purpose Africa's business environment (BE) is characteristically unfriendly and poses severe development challenges. This study evaluates the impact of business climate on productivity in sub-Saharan Africa (SSA). Design/methodology/approach Macroeconomic data for 51 sub-Saharan African economies from 1990 to 2018 are employed for the analysis. The seemingly unrelated regression model is used to address inter-sectorial linkages. Findings The study uncovers several findings. First, a high start-up cost substantially leads to productivity losses by limiting the funds available for investment in productivity-enhancing labour and technology and limiting the number of businesses that see the light of day. The productivity impacts of start-up costs are most enormous for industry, followed by services and agriculture. Second, economies with favourable financing environments tend to be more productive economy wide and sector wise. Third, high taxes and tax inefficiency lower productivity by reducing the resource envelope of firms, thus lowering investment amounts. Fourth, poor business infrastructure inflicts the most damage on productivity. Lastly, business administration and macroeconomic environments impact sectoral and economy-wide productivity. Practical implications SSA economies must strive to lower the cost of starting a business as high start-up costs injure productivity. One way of reducing start-up costs is to create a one-stop shop for registering and formalising a business. Another way is to automate business registration and administrative processes to reduce red tape and corruption. Originality/value The authors extend the body of knowledge by analysing sectoral and economy-wide productivity effects of various business climate indicators while accounting for inter-sectoral linkages, cross-sectional dependence and endogeneity.
非洲营商环境不友好是其特点,发展面临严峻挑战。本研究评估了撒哈拉以南非洲(SSA)商业环境对生产力的影响。设计/方法/方法采用1990年至2018年撒哈拉以南非洲51个经济体的宏观经济数据进行分析。看似不相关的回归模型用于解决部门间的联系。这项研究揭示了几个发现。首先,高昂的启动成本限制了可用于投资提高生产率的劳动力和技术的资金,并限制了看到曙光的企业数量,从而在很大程度上导致生产力损失。开办费用对工业生产力的影响最大,其次是服务业和农业。其次,拥有良好融资环境的经济体往往在整体经济和行业层面的生产率更高。第三,高税收和税收效率低下通过减少企业的资源信封来降低生产率,从而降低投资金额。第四,糟糕的商业基础设施对生产率造成的损害最大。最后,企业管理和宏观经济环境影响部门和整个经济的生产力。实际意义SSA经济体必须努力降低创业成本,因为高昂的创业成本会损害生产率。降低创业成本的一种方法是创建一个一站式的商店,为企业注册和正式化。另一种方法是使商业登记和行政程序自动化,以减少繁文缛节和腐败。原创性/价值作者通过分析各种商业环境指标对部门和整个经济的生产力影响,同时考虑到部门间联系、横断面依赖和内生性,扩展了知识体系。
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引用次数: 0
Personal determinants of early-stage strategic entrepreneurship: an empirical comparison of Vietnam and Taiwan 早期战略创业的个人决定因素:越南与台湾的实证比较
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-09 DOI: 10.1108/ijoem-02-2022-0316
Shihmin Lo, My-Linh Tran, Pei-Fen Chen, Huy Cuong Vo Thai
Purpose This research explores how individual factors drive early-stage strategic entrepreneurship (SE) in Vietnam and Taiwan. The authors extend SE and integrate knowledge spillover theory to gain insights into the relationship between individual factors and SE. The research highlights the importance of a dual process, which involves advantage-creating by innovation, as value creation and capture, and advantage-leveraging by growth and international expansion, as value retention and capture. Design/methodology/approach Innovation-oriented SE (ISE), growth-oriented SE (GSE) and internationalization-oriented SE (ITSE) are identified as new measures of SE. There are six hypotheses containing the effect of six personal characteristics have on SE. The authors employed logit regression to estimate the effect of independent variables on SE based on a pooled cross-sectional dataset drawn from Global Entrepreneurship Monitoring (GEM) in Vietnam and Taiwan during 2013–2018. Findings Opportunity sensing, education, self-funding ability, startup knowledge and skills and startup experience are crucial to the engagement of at least one type of SE in Vietnam. In contrast, education, self-funding ability and start-up knowledge and skills are key factors in Taiwan. Originality/value This study contributes to the extension of SE at the individual level in the early phase of new venturing and the integration of knowledge spillover theory. In order to drive early-stage SE further, the authors recommend to prioritize learning from spillovers within and among organizations, industries and communities, as well as through quality institutions, in addition to the individual drivers.
目的本研究探讨越南与台湾的个体因素对早期策略性创业的驱动作用。本文通过对知识溢出理论的拓展和知识溢出理论的整合,深入探讨个体因素与知识溢出之间的关系。该研究强调了双重过程的重要性,即通过创新创造优势(作为价值创造和获取),以及通过增长和国际扩张利用优势(作为价值保留和获取)。设计/方法/方法创新导向的社会绩效(ISE)、成长导向的社会绩效(GSE)和国际化导向的社会绩效(ITSE)被确定为社会绩效的新衡量标准。有六个假设包含了六种个人特征对自我体验的影响。基于2013-2018年越南和台湾全球创业监测(GEM)的汇总横截面数据集,作者采用logit回归来估计自变量对SE的影响。机会感知、教育、自筹资金能力、创业知识和技能以及创业经验对越南至少一种类型的中小企业的参与至关重要。相比之下,教育程度、自筹资金能力和创业知识和技能是台湾创业的关键因素。本研究有助于创新创业早期个体层面创新意识的拓展,以及知识溢出理论的整合。为了进一步推动早期阶段的SE,作者建议,除了个人驱动因素外,还要优先考虑从组织、行业和社区内部和之间的溢出效应中学习,以及通过高质量的机构学习。
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引用次数: 0
External finance dependence, financial development and exports: a firm-level study from India 外部金融依赖、金融发展与出口:来自印度企业层面的研究
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-09 DOI: 10.1108/ijoem-07-2022-1156
Puneet Kumar Arora, Jaydeep Mukherjee
Purpose This study aims to add to the growing literature on the trade–finance nexus by exploring the interplay between a country's level of financial development, the external finance dependence of firms and their exporting decisions. Design/methodology/approach The study first develops a theoretical model to motivate the idea that a firm's liquidity (financial) position and its home country's level of financial development act as substitute factors in its export market entry decisions. It then empirically tests whether an improvement in a country's financial development level enhances the number of entrants in the foreign markets and boosts the exports of incumbent exporters using firm-level data of manufacturing firms in India for the period 1993–2020. Findings Empirical results suggest that a higher level of financial development helps increase the exporting probability of firms that rely more on external finance for their operations. Further, the study finds that the sunk costs-induced hysteresis effect plays a major role in firms' exporting decisions and financial factors don't play a significant role in the exporting activities of incumbent exporters. Practical implications The findings suggest that a well-developed financial market is necessary to help more and more firms initiate their foreign market operations. The results underscore that trade-liberalisation measures alone may not increase India's exports and the government must complement them with financial sector reforms. Originality/value Studies highlighting the role of financial sector development in helping financially-constrained Indian firms overcome the entry barriers associated with exporting are extremely limited. This study contributes to this nascent literature by conducting an empirical investigation on an extensive database of Indian manufacturing firms. Moreover, in contrast to the previous firm-level studies in this area, this empirical analysis uses the actual values of external finance raised by the firms as a critical factor in determining their extensive and intensive margin of exports instead of the usual balance sheet variables such as liquidity and leverage.
本研究旨在通过探索一个国家的金融发展水平、企业的外部融资依赖和其出口决策之间的相互作用,为日益增长的贸易融资联系文献提供补充。该研究首先建立了一个理论模型,以激发企业的流动性(财务)状况及其母国的金融发展水平在其出口市场进入决策中充当替代因素的观点。然后,利用1993-2020年期间印度制造业企业的企业层面数据,实证检验一国金融发展水平的提高是否会增加外国市场进入者的数量,并促进现有出口商的出口。实证结果表明,金融发展水平越高,对外融资依赖程度越高的企业出口的可能性越大。进一步研究发现,沉没成本导致的滞后效应在企业的出口决策中起主要作用,而金融因素在现有出口商的出口活动中起不显著作用。研究结果表明,一个完善的金融市场是帮助越来越多的企业开展海外市场业务的必要条件。结果强调,贸易自由化措施本身可能不会增加印度的出口,政府必须通过金融部门改革来补充这些措施。强调金融部门发展在帮助资金受限的印度公司克服与出口有关的进入壁垒方面的作用的独创性/价值研究极为有限。本研究通过对印度制造企业的广泛数据库进行实证调查,为这一新生文献做出了贡献。此外,与之前在该领域的公司层面研究相比,本实证分析使用公司筹集的外部融资的实际价值作为决定其出口广泛和密集边际的关键因素,而不是通常的资产负债表变量,如流动性和杠杆率。
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引用次数: 0
Long-term earnings growth forecasts: investor sentiment or valuation difficulty? 长期盈利增长预测:投资者情绪还是估值困难?
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-05 DOI: 10.1108/ijoem-07-2022-1116
Kléber Formiga Miranda, Márcio André Veras Machado
Purpose This article analyzes the hypothesis that analysts issue higher long-term earnings growth (LTG) forecasts following a market-wide investor sentiment. Design/methodology/approach This study analyzed 193 publicly traded Brazilian firms listed on B3 (Brasil, Bolsa, Balcão), totaling 2,291 observations. To address the potential selection bias resulting from analysts' preference for more liquid firms, this study used the Heckman model in the analysis with samples with only one analyst and the entire sample. The study also applied other robustness tests to ensure the reliability of the findings. Findings The results suggest that market-wide investor sentiment influences LTG when the firm's stocks are difficult to value. Market optimism did not reflect five-year profit growth after the forecast issue, suggesting lower forecast accuracy during high investor sentiment values. Practical implications Volatile-earnings firms have relevant implications in LTG forecasts during bullish moments. According to the study’s evidence, investors' decisions and policymakers' and regulators' rules should consider analysts' expertise as independent information when considering LTG as input for valuation models, even under market optimism. Originality/value This paper contributes to the literature on the influence of investor sentiment on analysts' forecasts by incorporating two crucial elements in the discussion: the scenario free from herding behavior, as usually only one analyst issues LGT forecast for Brazilian firms, and the analysis of research hypotheses incorporates the difficulty of pricing a firm given the uncertainty of its earnings as an explanation to bullish forecast.
本文分析了分析师在市场投资者情绪之后发布更高的长期收益增长(LTG)预测的假设。本研究分析了在B3 (Brasil, Bolsa, balc)上市的193家公开交易的巴西公司,共计2291项观察结果。为了解决由于分析师对流动性更强的公司的偏好而导致的潜在选择偏差,本研究在只有一位分析师和整个样本的样本分析中使用了Heckman模型。该研究还应用了其他稳健性测试来确保研究结果的可靠性。结果表明,当公司股票难以估值时,市场投资者情绪会影响LTG。预测发布后,市场乐观情绪并未反映出5年的利润增长,这表明在投资者情绪高涨期间,预测准确性较低。实际影响波动收益公司在看涨时刻对LTG预测有相关影响。根据该研究的证据,即使在市场乐观的情况下,投资者的决策以及政策制定者和监管机构的规则在考虑将LTG作为估值模型的输入时,也应该将分析师的专业知识作为独立信息考虑。本文通过在讨论中纳入两个关键因素,为投资者情绪对分析师预测影响的文献做出了贡献:没有羊群行为的情景,因为通常只有一位分析师对巴西公司发布LGT预测,以及研究假设的分析纳入了考虑到其收益不确定性的公司定价困难作为看涨预测的解释。
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引用次数: 0
Accounting information quality and cash holdings—Moderating effects based on state ownerships and local appointments 会计信息质量与现金持有——基于国有制和地方任命的调节效应
4区 管理学 Q2 BUSINESS Pub Date : 2023-10-03 DOI: 10.1108/ijoem-01-2022-0173
Liangyu Zhu, Yulong Sun
Purpose The purpose of this study is to explore the continuity and stability of the impact of accounting information quality on cash holdings, and the moderating effect of this relationship on state ownerships and local appointments. Design/methodology/approach Based on China's companies from 2011 to 2019, the authors divided cross-section and panel samples, adopted a linear and classification model and performed grouping regression. Findings The authors find that: first, the quality of corporate accounting information can significantly improve the level of cash holding, giving play to the strategic value effect of cash holding. But that boost is based on economies being able to solve agency problems. Second, the reduction of earnings management and the improvement of accounting information quality of NSOEs improve the level of cash holdings, while SOEs are on the contrary. Third, local appointments can play to the emotional strengths of their hometowns and play a synergistic role in this relationship, but the supervision effect of remote appointments is not obvious. Originality/value Through endogeneity and other tests, the conclusion is robust. Based on the agency and information asymmetry theory, the authors considered China's institutional and cultural factors, optimized accounting information's measurement and expanded the research boundary of the accounting field. The authors believe that applicable scenarios should be fully considered in the concluding relationship between accounting information quality and cash holdings. Enterprises should give full play to the advantages of cash holdings in strategic decision-making and financial efficiency, improve the quality of accounting information and also consider state ownerships and the differences in directors' emotions to reduce internal agency costs.
本研究的目的是探讨会计信息质量对现金持有量影响的连续性和稳定性,以及这种关系对国有制和地方任用的调节作用。以2011 - 2019年中国企业为样本,采用横截面和面板样本划分,采用线性模型和分类模型,进行分组回归。研究发现:第一,企业会计信息质量能够显著提高现金持有水平,发挥现金持有的战略价值效应。但这种提振是基于经济体能够解决代理问题。第二,非国有企业盈余管理的减少和会计信息质量的提高提高了现金持有量水平,而国有企业则相反。第三,本地预约可以发挥其家乡的情感优势,在这种关系中发挥协同作用,但远程预约的监督效果不明显。独创性/价值通过内生性等检验,结论是稳健的。基于代理理论和信息不对称理论,考虑中国的制度和文化因素,优化会计信息的计量,拓展会计领域的研究边界。笔者认为,在总结会计信息质量与现金持有量的关系时,应充分考虑适用情景。企业应充分发挥现金持有在战略决策和财务效率方面的优势,提高会计信息质量,同时考虑国有制和董事情绪差异,降低内部代理成本。
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引用次数: 0
Deconstructed entrepreneurial orientation and export performance: mediating role of differentiation and cost leadership strategy from the developing country context 解构企业家导向与出口绩效:发展中国家背景下差异化与成本领先战略的中介作用
4区 管理学 Q2 BUSINESS Pub Date : 2023-09-26 DOI: 10.1108/ijoem-08-2021-1209
Kamal Hossain, Mohammad Nurul Alam, Mohd Rizal Muwazir, Ali Alsiehemy, Noor Azlinna Azizan
Purpose The aim of this study is to examine the effects of innovativeness (INN), proactiveness, (PRC) and risk-taking (RIT) on the export performance of apparel small and medium-sized enterprises (SMEs) and the role of differentiation and low-cost leadership (LCL) strategies as mediating effects between entrepreneurial orientation (EO) dimensions and the performance of exporting firms. INN, RIT and PRC are considered EO dimensions. Design/methodology/approach A cross-sectional survey was carried out by providing a questionnaire to the owners, directors and senior managers of the apparel SMEs – the primary data of 550 treated by structural equation modeling (SEM) technique for final data analysis. Findings The study has revealed the positive dimensional effect of EO on export performance. For the mediation effects of differentiation and LCL, differentiation strategy (DS) positively mediates between INN, PRC and export performance. However, no mediation has been found between RIT and export performance. On the other hand, LCL has found positive effects between INN, RIT and export performance. However, the mediation effect was absent between PRC and export performance. Research limitations/implications Limitations/implications- This study has been conducted on only Muslim owners, senior export managers and directors of apparel SMEs in Bangladesh. It has examined the two main competitive strategies as a mediator between EO dimensions and export performance. The findings of this study are based on one country data analysis. Practical implications EO, differentiation and low-cost leadership (LCL) strategy are resources and capabilities of an organization to create a competitive advantage to enhance performance. The factors of this research are helpful for SME practitioners. Originality/value The direct and indirect effects (differentiation and LCL strategy) of EO dimensions on export performance in an emerging country, i.e. the South-Asia region, is a pioneer study. Therefore, current research has theoretical and managerial implications for the international business and strategic management literature.
摘要本研究旨在探讨创新(INN)、主动性(PRC)和风险承担(RIT)对服装中小企业出口绩效的影响,以及差异化和低成本领导(LCL)战略在创业导向(EO)维度与出口企业绩效之间的中介作用。INN, RIT和PRC被认为是EO维度。设计/方法/方法通过向服装中小企业的所有者、董事和高级管理人员提供问卷调查进行横断面调查- 550个主要数据通过结构方程建模(SEM)技术进行最终数据分析。结果本研究揭示了企业绩效对出口绩效的正向维度效应。对于差异化和LCL的中介效应,差异化策略在INN、PRC和出口绩效之间起正向中介作用。然而,在RIT和出口绩效之间没有发现中介作用。另一方面,拼箱在国际贸易效率、贸易效率与出口绩效之间存在正向影响。然而,PRC与出口绩效之间不存在中介效应。研究的局限性/启示局限性/启示-本研究仅针对孟加拉国服装中小企业的穆斯林所有者、高级出口经理和董事进行。本文考察了两种主要的竞争战略在经济效益维度和出口绩效之间的中介作用。这项研究的结果是基于一个国家的数据分析。EO、差异化和低成本领导(LCL)战略是组织创造竞争优势以提高绩效的资源和能力。本研究的因素对中小企业从业者有一定的帮助。在新兴国家,即南亚地区,EO维度对出口绩效的直接和间接影响(差异化和低成本战略)是一项开创性的研究。因此,目前的研究对国际商业和战略管理文献具有理论和管理意义。
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引用次数: 0
Uncover the heterogeneity of EMNE's institutional difficulty perception and its behavioral orientation – evidence of Chinese MNEs' FDI in Taiwan 揭示新兴市场国家制度困难认知及其行为取向的异质性——以中国跨国公司对台直接投资为例
4区 管理学 Q2 BUSINESS Pub Date : 2023-09-21 DOI: 10.1108/ijoem-04-2021-0513
Chun-Ping Yeh, Yi-Chi Hsiao, Sebastian Gebhadt
Purpose The existing research on institutional distance implicitly posits the monotonic effect of contextual differences on the multinational enterprise (MNE) behaviors (e.g. entry mode, research and development (R&D) investment and subsidiary reverse knowledge transfer). Namely, MNEs from the same home to the same host countries are thought to have homogenous perceptions on the institutional influences and thus behave similarly. However, the authors argue that MNEs, due to their different performance aspirations in host countries, will have heterogenous perceptions on such contextual influences and thereafter behave differently. Design/methodology/approach Drawing on the behavioral theory of the firm and employing a unique sample comprised of 140 Chinese MNEs' foreign direct investments (FDIs) in Taiwan in 2017, the authors developed and tested the hypotheses. Findings The authors found that the emerging-market MNEs' (EMNEs’) perceptions of higher local institutional difficulties will be strengthened when their local performances are below their aspiration levels, making them more risk-taking. Nevertheless, EMNEs' local experiences and local equity-based partnerships will mitigate such negative perceptions, mitigating their risk-taking orientation. Originality/value The empirical findings make contributes to the international business (IB) literature by extending knowledge on the determinants and conditions of the heterogeneity in EMNEs' behavioral orientations when in face of the same institutional distance. The authors also provide managerial implications by showing that EMNEs' firm-specific resources (i.e. local experience and local equity-based partnership) will alter their perceptions of local institutional difficulties, leading to different behavioral orientations.
现有的制度距离研究隐含地假设了背景差异对跨国企业行为(如进入模式、研发投资和子公司逆向知识转移)的单调效应。也就是说,来自同一母国到同一东道国的跨国公司被认为对体制影响有相同的看法,因此行为也类似。然而,作者认为,由于跨国公司在东道国的业绩期望不同,它们对这种背景影响的看法也不同,因此行为也不同。根据企业行为理论,采用由2017年140家中国跨国公司在台湾的对外直接投资(fdi)组成的独特样本,作者提出并检验了这些假设。研究发现,当新兴市场跨国公司在当地的业绩低于预期水平时,它们对当地制度困难的感知会增强,从而使它们更愿意承担风险。然而,EMNEs的当地经验和当地基于股权的伙伴关系将减轻这种负面看法,减轻其冒险倾向。原创性/价值实证研究结果通过扩展对EMNEs面对相同制度距离时行为取向异质性的决定因素和条件的认识,为国际商务文献做出了贡献。作者还通过表明EMNEs的企业特有资源(即当地经验和当地基于股权的伙伴关系)将改变他们对当地制度困难的看法,从而导致不同的行为取向,从而提供管理意义。
{"title":"Uncover the heterogeneity of EMNE's institutional difficulty perception and its behavioral orientation – evidence of Chinese MNEs' FDI in Taiwan","authors":"Chun-Ping Yeh, Yi-Chi Hsiao, Sebastian Gebhadt","doi":"10.1108/ijoem-04-2021-0513","DOIUrl":"https://doi.org/10.1108/ijoem-04-2021-0513","url":null,"abstract":"Purpose The existing research on institutional distance implicitly posits the monotonic effect of contextual differences on the multinational enterprise (MNE) behaviors (e.g. entry mode, research and development (R&D) investment and subsidiary reverse knowledge transfer). Namely, MNEs from the same home to the same host countries are thought to have homogenous perceptions on the institutional influences and thus behave similarly. However, the authors argue that MNEs, due to their different performance aspirations in host countries, will have heterogenous perceptions on such contextual influences and thereafter behave differently. Design/methodology/approach Drawing on the behavioral theory of the firm and employing a unique sample comprised of 140 Chinese MNEs' foreign direct investments (FDIs) in Taiwan in 2017, the authors developed and tested the hypotheses. Findings The authors found that the emerging-market MNEs' (EMNEs’) perceptions of higher local institutional difficulties will be strengthened when their local performances are below their aspiration levels, making them more risk-taking. Nevertheless, EMNEs' local experiences and local equity-based partnerships will mitigate such negative perceptions, mitigating their risk-taking orientation. Originality/value The empirical findings make contributes to the international business (IB) literature by extending knowledge on the determinants and conditions of the heterogeneity in EMNEs' behavioral orientations when in face of the same institutional distance. The authors also provide managerial implications by showing that EMNEs' firm-specific resources (i.e. local experience and local equity-based partnership) will alter their perceptions of local institutional difficulties, leading to different behavioral orientations.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136128969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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International Journal of Emerging Markets
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