bluuebunny/crossref_metadata_2025 huggingface dataset:
Optimal diversification, stochastic dominance, and sampling error
Authors: Mroua Mourad , Abid Fathi , Wong Wing Keung
Published: March 2017

Purpose

The purpose of this paper is to contribute to the literature in three ways: first, the authors investigate the impact of the sampling errors on optimal portfolio weights and on financial investment decision. Second, the authors advance a comparative analysis between various domestic and international diversification strategies to define a stochastic optimal choice. Third, the authors propose a new methodology combining the re-sampling method, stochastic optimization algorithm, and nonparametric stochastic dominance (SD) approach to analyze a stochastic optimal portfolio choice for risk-averse American investors who care about benefits of domestic diversification relative to international diversification. The authors propose a new portfolio optimization model involving SD constraints on the portfolio return rate. The authors define a portfolio with return dominating the benchmark portfolio return in the second-order stochastic dominance (SSD) and having maximum expected return. The authors combine re-sampling procedure and stochastic optimization to establish more flexibility in the investment decision rule.

Design/methodology/approach

The authors apply the re-sampling procedure to consider the sampling error in the optimization process. The authors try to resolve the problem of the stochastic optimal investment strategy choice using the nonparametric SD test by Linton et al. (2005) based on sub-sampling simulated p values. The authors apply the stochastic portfolio optimization algorithm with SSD constraints to define optimal diversified portfolios beating benchmark indices.

Findings

First, the authors find that reducing sampling error increases the dominance relationships between different portfolios, which, in turn, alters portfolio investment decisions. Though international diversification is preferred in some cases, the study’s results show that for risk-averse US investors, in general, there is no difference between the diversification strategies; this implies that there is no increase in the expected utility of international diversification for the period before and after the 2007-2008 financial crisis. Nevertheless, the authors find that stochastic diversification in domestic, global, and Europe, Australasia, and Far East markets delivers better risk returns for the US risk averters during the crisis period.

Originality/value

The originality of the idea in this paper is to introduce a new methodology combining the concept of portfolio re-sampling, stochastic portfolio optimization with SSD constraints, and the nonparametric SD test by Linton et al. (2005) based on subsampling simulated p values to analyze the impact of sampling errors on optimal portfolio returns and to investigate the problem of stochastic optimal choice between international and domestic diversification strategies. The authors try to prove more coherence in the portfolio choice with the stochastically and the uncertainty characters of the paper.
Literature review and research opportunities on credibility of corporate social responsibility reporting
Authors: Abernathy John , Stefaniak Chad , Wilkins Anne , Olson Jacqueline
Published: March 2017

Purpose

The purpose of this paper is to identify and synthesize the current academic literature on emerging trends to increase CSR reporting credibility.

Design/methodology/approach

This paper synthesizes literature on emerging trends to increase CSR reporting credibility from the past ten years, focusing mainly on the most recent five years, by searching ABI/Inform and Business Source Premier for academic papers containing the following keywords: Corporate Social Responsibility (CSR) Reporting, CSR, Sustainability, and Social Responsibility.

Findings

This paper identifies four relatively unexplored trends to improve CSR credibility: CSR assurance, integrated reporting, CSR reporting standards, and CSR regulation.

Research limitations/implications

This study will be of use to academic researchers to facilitate research and discussion on the credibility of CSR disclosure.

Practical implications

Regulatory agencies, boards of directors, customers, suppliers, and investors are increasingly using CSR information for decision making; therefore the credibility of the information is important.

Originality/value

Much of the extant research investigating CSR has focused on financial performance metrics. The study synthesizes the recent CSR literature, including some interdisciplinary research focusing on emerging accountability trends in reporting. The authors identify several research opportunities that will enhance the authors’ understanding of CSR reporting.
Antecedents of consumer animosity and the role of product involvement on purchase intentions
Authors: Park Ji Eun , Yoon Sung-Joon
Published: March 2017

Purpose

The purpose of this paper is to further our understanding of the sources of consumer animosity and the moderating role of product involvement on purchase intentions.

Design/methodology/approach

Animosity is examined in the context of South Korean consumers’ purchase intentions toward Japanese products. A structural equation model was estimated in Lisrel 8.80 to assess the proposed model.

Findings

The results offer evidence that consumer ethnocentrism and susceptibility to normative influence have a positive relationship with animosity while cosmopolitanism has a negative relationship with animosity. Furthermore, animosity negatively influences intentions to purchase for high-involvement products, but not for low-involvement products.

Practical implications

International marketing managers can better identify the risk that consumer animosity poses to their products and services based on level of product involvement and characteristics of the market segment.

Originality/value

This study offers clarity to the understanding of animosity by examining additional antecedents of animosity that reflect different world views. It also provides an exception to the previous findings that in general animosity has a negative impact on consumers’ willingness to buy products of countries for which consumers have animosity. In other words, the effect of animosity on purchase intention of products from a disliked country depends on the degree of involvement.
International expansion and unobserved heterogeneity in critical success factors
Authors: Rwehumbiza Deusdedit Augustine
Published: March 2017

Purpose

The purpose of this paper is to examine the existence of unobserved heterogeneity in the critical drivers of firms’ international expansion. Testing for unobserved heterogeneity assists researchers to come up with precise interpretations and valid conclusions.

Design/methodology/approach

Building on the resource-based view (RBV) and institution-based view, this study applies partial least squares structural equation modelling to empirically examine whether there are significant differences in the success factors among 105 export manufacturers.

Findings

Statistical results reveal significant differences for the relationships between: managers’ entrepreneurial capability (MEC) and export intensity (EI); a moderating effect of institutional support on the relationship between MEC and EI; and firms manufacturing capability and EI. The research results also show that the RBV is salient for all firms expanding from emerging economies. These findings provide evidence that unobserved heterogeneity is likely to lead to misinterpretations of results and false conclusions.

Originality/value

Despite the abundance of natural factor endowments, export performance of firms from emerging economies remains unimpressive. The unobserved heterogeneity revealed across countries calls for business actors at all levels and in different capacities to work on the synergised investment, production, and trade policies in favour of the overlooked human created endowments, particularly capabilities. Capabilities account for the largest part of unobserved heterogeneity and firms’ superior performance.
Shareholder spring and social activism: a study of 2013-2015 proxy filings
Authors: Subramanian Ram
Published: March 2017

Purpose

The purpose of this paper is to examine social issue proxy filings by shareholders of US corporations in a period commonly referred to as the “shareholder spring” to understand who the filers are, what issues are typically the focus of the filings, what the dominant strategy is of various filers and the success rate of proxy-based shareholder social activism.

Design/methodology/approach

Using the shareholder-filed proxy as the unit of analysis, the study parsed the data from 410 proxies to gain insight into the process of shareholder social activism.

Findings

Religious groups, in contrast to large pension and mutual funds, use a small shareholding approach to form coalitions with other stakeholders to gain voting support. Proxies that call for disclosure elicit greater support than those that demand a change in a company’s business practices. If the goal of shareholder social activism is to keep the proxy issue alive from one shareholder meeting to the next, then non-individual proxy filers can be considered successful.

Research limitations/implications

While the study only considered proxies for 250 of the Fortune 500 companies, there is evidence that social activism can succeed if a coalition strategy is used and the shareholder’s motives appear to be legitimately altruistic.

Practical implications

It is important for corporate managers to consider the prevailing shareholder sentiment on social issues because such sentiments largely echo general societal concerns.

Social implications

While the debate is still unsettled on the shareholder versus the stakeholder argument, there is a high level of scrutiny on how a company operates in the larger societal context.

Originality/value

Propelled by the Dodd–Frank law and the shareholder spring movement, certain types of shareholders (primarily religious groups) are quite adept at eliciting support for social issues because of both their legitimacy and by the strategy that they follow.
Customers’ emotion regulation strategies in service failure encounters
Authors: Balaji M.S. , Roy Sanjit Kumar , Quazi Ali
Published: March 2017

Purpose

The purpose of this paper is twofold: first, to determine the role of emotions in customer evaluation of service failures; and second, to examine how customers’ emotion regulation impacts customer satisfaction and behavioural responses (e.g. repurchase intentions and negative word-of-mouth).

Design/methodology/approach

A scenario-based survey was used to elicit responses in a hospitality setting. Structural equation modelling and hierarchical regression analysis were used to test the proposed hypotheses.

Findings

Results show that both positive and negative emotions mediate the relationship between perceived injustice and customer satisfaction. The emotion regulation of customers through suppression and reappraisal influences the effects of satisfaction on both negative word-of-mouth and repurchase intentions.

Practical implications

This study advances service managers’ understanding of customer experience during service failure by demonstrating how emotion regulation influences customer response behaviours. With a better understanding of customers’ emotion regulation strategies, managers and frontline employees can more effectively develop and execute recovery strategies which adapt to customer emotions while eliciting more satisfying outcomes.

Originality/value

This research is one of the first to examine the moderating role of customers’ emotion regulation strategies in determining their behavioural responses. Conducted in the hospitality services context, this study provides support for relationships among perceived injustice, customer emotions, emotion regulation, customer satisfaction, negative word-of-mouth and repurchase intentions.
Beyond exit and voice: developing an integrated taxonomy of consumer complaining behaviour
Authors: Istanbulluoglu Doga , Leek Sheena , Szmigin Isabelle T.
Published: March 2017

Purpose

The purpose of this paper is to help researchers and practitioners to understand and respond to consumer complaining behaviour (CCB) by developing a taxonomy that addresses the inadequacies of previous consumer complaining taxonomies and models, simplifies the terminology and covers both traditional and new ways of complaining.

Design/methodology/approach

Based on a systematic review of 210 studies, a concept-centric analysis of CCB literature was conducted. Seminal taxonomies and models of CCB are revisited and a critical evaluation of these is presented.

Findings

An integrated taxonomy of CCB is proposed which enhances the understanding of complaining in the twenty-first century by clarifying the ambiguities and overlapping constructs in the previous taxonomies.

Research limitations/implications

The integrated taxonomy of CCB eliminates the ambiguity of previous approaches and introduces more coherent constructs in relation to the theory of CCB. The taxonomy comprehensively defines and describes the range of complaining actions to provide a complete framework. As a result, the authors’ understanding of CCB is developed through a focus on complaining actions, their characteristics and what these actions afford companies in their attempts to deal with complaints (i.e. audience and amount of information available).

Practical implications

Practitioners can use the integrated taxonomy of CCB to structure their complaint handling processes to obtain maximum customer feedback, to improve their product/service and to retain customers through satisfactorily addressing their complaints.

Originality/value

Although the literature on consumer complaining is mature, this is the first paper that offers a comprehensive taxonomy that explains CCB while addressing new developments in computer-mediated communications.
The effect of the moral failure of a foreign brand on competing brands
Authors: Maher Amro A. , Singhapakdi Anusorn
Published: March 2017

Purpose

The purpose of this paper is to examine the impact of the moral failure of a scandalized foreign brand afflicted with a product-harm crisis on competing brands (i.e. within the same product category) while taking into account the country of origin (COO) of the brands.

Design/methodology/approach

This paper presents the results of two studies. The first study uses an experimental design, while the second uses a survey to examine a real-life product-harm crisis.

Findings

The results indicate that the moral failure of a scandalized foreign brand has an indirect negative effect on the intention to purchase competing foreign brands from the COO of the scandalized foreign brand. This effect is, however, reversed for domestic brands, where moral failure has an indirect positive effect on the intention to purchase competing domestic brands.

Research limitations/implications

The results of this research were based on an examination of how US consumers responded to the moral failure of Japanese and German brands. Future studies should examine brands from different COOs in different countries.

Practical implications

These results suggest that competing foreign brands from the COO of the scandalized brand should collaborate to quickly handle a product-harm crisis to prevent a spillover and that domestic competitors should capitalize on the opportunity to attract new customers.

Originality/value

This study represents a first attempt to examine the effect of a foreign brand’s moral failure in handling product-harm crisis on competing brands, both foreign and domestic.
An exemption for strong brands: the influence of brand community rejection on brand evaluation
Authors: Wang Lili , Ding Ying
Published: March 2017

Purpose

Focusing on firm-initiated brand communities, the purpose of this paper is to systematically examine the influence of brand community rejection on consumer evaluations and document the underlying mechanism involved.

Design/methodology/approach

Four empirical studies were conducted to test the proposed hypotheses. Using a similar 2 × 2 study design, different subject samples and different product categories, Studies 1-3 investigated whether a brand community rejection strategy impacted strong brands differently than weak brands. Furthermore, Study 3 measured reactance as a moderator to explore the underlying process of the impact of a brand community rejection strategy on brand evaluations for different types of brands (i.e. strong vs weak). Study 4 used a 2 × 2 × 2 between-subjects design to examine whether justification would eliminate the negative impact of brand community rejection on subsequent brand evaluations for a weak brand.

Findings

Across the four studies, the findings consistently suggest that rejection from firm-initiated brand communities harms weak brands but not strong brands. In addition, by incorporating psychological reactance as a moderator of this effect, the authors uncover the process underlying the interaction between brand community rejection and brand strength. Furthermore, the paper examines the reasons that justify rejection to find a solution that eliminates the negative impact of brand community rejection on brand evaluations for weak brands.

Originality/value

To the best of the authors’ knowledge, this research provides the first investigation of the effects of a brand community rejection strategy for different brands. The findings could advance the social exclusion literature and shed new light on brand community research.
Assessment of knowledge, attitudes, and practices (KAP) towards climate change education (CCE) among lower secondary teachers in Tehran, Iran
Authors: Karami Shaho , Shobeiri Seyed Mohammad , Jafari Hamidreza , Jafari Hamidreza
Published: March 2017

Purpose

Teachers can be regarded as key figures in climate change education (CCE). Therefore, the purpose of this study is assessment of Iranian lower secondary teachers? level of knowledge, attitudes and practices toward CCE in a less-touched-upon context.

Design/methodology/approach

The present study used a cross-sectional survey design, which used a specially designed questionnaire administered in ten high schools (five boys’ and five girls’ lower secondary schools). A sample of 108 lower secondary school teachers was selected through a multistage stratified random sampling technique. The gender structure of the sample was 48.1 per cent male and 51.9 per cent female subjects. To determine the status of teachers’ knowledge, attitudes and practices, the obtained quantitative data were classified into three categories on a scale of 100 per cent: good status (more than 75 per cent), moderate status (50-75 per cent) and weak status (less than 50 per cent).

Findings

The findings revealed that the involved teachers were equipped with an appropriate knowledge, i.e. 22.2 per cent good and 52.8 per cent moderate levels of knowledge. Furthermore, the subjects’ level of attitude was moderate (44.5 per cent); however, their level of practice was weak (52.8 per cent). In terms of gender, male subjects’ knowledge and attitude levels were higher than those of female subjects. However, female subjects reported higher levels of practice in comparison with male subjects. Overall, the results of this study highlighted the necessity of improving lower secondary teachers’ CCE in general and of the level of their attitudes and practices in particular.

Originality/value

The present study sheds more light on the change management and environmental education within the Iranian context. The results of this study accentuate the necessity of presenting more CCE programs for teachers. Furthermore, curriculum planners can take advantage of the obtained results to carry out curriculum reforms.
Contemporary issues in events, festivals and destination management
Authors: Van Niekerk Mathilda
Published: March 2017

Purpose

This article aims to provide a critical review of the articles included in this special issue and highlight their findings and contribution to events, festivals and destination management research.

Design/methodology/approach

The article critically reviews methodologies, findings, themes and conclusions offered by each article included in this special issue.

Findings

The articles in the special issue identify the latest thematic trends in events, festivals and destination management research and propose conceptual frameworks for event and festival life cycle trajectories. They build on previous research confirming how accessible tourism and a balanced event portfolio can increase the sustainability and competitiveness of the destination. Based on sound methodologies, they offer specific theoretical and practical implication for the successful planning, marketing and management of events, festivals and destinations. They provide suggestions on how event innovation, participatory sport events, mega sport events, food and wine festivals and meetings, incentives, conferences and events (MICE) can assist in the marketing and branding of the tourism destination.

Research limitations/implications

The articles in this special issue lay the foundation for future research in events, festivals and destination management. Articles in this special issue apply various research methods and analysis, indicating the growth of event and festival research. Research methods and analysis techniques used in the special issue include content/theme analysis, case studies, qualitative studies and questionnaires. The research articles and methodologies used in this issue should help both researchers and industry practitioners.

Originality/value

This study highlights key findings, theoretical and practical implications and contributions of the articles included in this special issue. It provides a holistic view of events, festivals and destination management research and suggests areas for future research.
Environmental impacts and certification: evidence from the Milan World Expo 2015
Authors: Guizzardi Andrea , Mariani Marcello , Prayag Girish
Published: March 2017

Purpose

This study aims to examine residents’ perceptions of environmental impacts and certification for the Milan World Expo 2015 as well as their overall attitude toward the mega-event.

Design/methodology/approach

A survey of Milan residents based on a convenience sample led to 221 useable questionnaires.

Findings

Residents perceived that the Expo will have minimal negative and positive environmental impacts. A minority of residents were aware of the environmental certification of the event. The less agreeable residents were with the perceived negative environmental impacts of the event, the more agreeable they were that a certification of event sustainability should limit the damage to the natural environment. Residents’ perceptions of the certification were positively related to their overall attitude toward the event.

Research limitations/implications

The findings cannot be generalized to other mega-events but have several managerial implications in relation to the need for information provision to residents and better communication of the certification by event organizers and planners.

Originality/value

Despite rising concerns about environmental issues related to hosting mega-events, there is no research on perceptions of a certification of event sustainability by residents.
The negotiation scorecard: a planning tool in business and industrial marketing
Authors: Fleming David E. , Hawes Jon M.
Published: March 2017

Purpose

Given the ever-increasing complexity of business-to-business exchange, success is contingent on being able to adapt to any given situation. However, there is little in the way of guidance for how to adapt when it comes to negotiations. This paper aims to help business and industrial marketing professionals “get it right” by introducing a new tool which can be used to determine the appropriateness of using a distributive or an integrative approach for a given negotiation interaction.

Design/methodology/approach

To develop this tool, the authors identify key situational factors in the negotiating context that serve as indicators of the appropriate orientation (integrative or distributive) that should be applied based on the extant negotiation literature. From this, they develop a framework to guide negotiators in their selection of an orientation for a particular interaction to achieve the best possible outcome.

Findings

The tool developed from the literature review and termed the “Negotiation Scorecard” enables business-to-business marketers to better gauge the negotiation context and develop an interaction style consistent with that situation. This can lead to better deals and/or enhanced long-term relationships within business and industrial marketing channels.

Originality/value

This tool is the first of its kind to provide negotiators with a structured and quantifiable metric to guide their planning for future negotiation interactions and offers proscriptive guidance as to the types of strategies and tactics they should plan to use and that they should expect to encounter.
The distributive knot: negotiators’ responsibility to untie complex demands
Authors: Lempereur Alain , Pekar Michele
Published: March 2017

Purpose

This article aims to explore the fundamental negotiation structure as a demand/response dynamic. It tests it in a complex business system, where a manager as a negotiator is confronted with multiple demands or pressures at different levels from a variety of stakeholders, both external and internal.

Design/methodology/approach

Based on concrete examples from the automotive industry, it presents an analytical framework to tackle all negotiation interactions.

Findings

This article suggests that it is possible to describe all negotiation interactions, whether they are simple or complex, through a demand/response framework.

Originality/value

This contribution examines a fundamental structure for negotiation responsibility – the demand/response dynamic – defining the mission of any negotiator in deal-making or dispute resolution as to try to supply a response to the expressed crossed demands. Second, the proposed theoretical model of demand/response is transposed and tested in a managerial system where a sales negotiator is confronted with demands from more sources, both external and internal, with the responsibility to satisfy as best as possible the various stakeholders and the capacity to address each of them with different moves.
The role of management accounting systems in the development of intellectual capital
Authors: Novas Jorge Casas , Alves Maria do Céu Gaspar , Sousa António
Published: March 2017

Purpose

The purpose of this paper is to examine the role of management accounting systems (MAS) in the development of intellectual capital (IC) – i.e. human capital (HC), structural capital (SC) and relational capital (RC) – and the resultant effects on organizational performance.

Design/methodology/approach

A questionnaire was developed to conduct a survey of high-level managers of Portuguese companies. The data collected were analyzed through the use of structural equation modeling with AMOS.

Findings

Statistical support was found for six out of nine hypothesized relationships. The findings confirm the role of MAS in the development of HC and SC. Results also showed positive and statistically significant relationships between the three dimensions of IC, in line with previous research. Finally, results indicated that SC has a positive and significant link with organizational performance, in keeping with some research.

Research limitations/implications

The estimation procedure allowed only a partial validation of the proposed model because, although positive, the relationships between MAS and RC, between HC and performance and between RC and organizational performance were not statistically significant.

Practical implications

The study highlights the role of MAS as information networks that collect, process and communicate information that influences the development of IC, as well as networks of relationships that support the establishment of conditions for the creation and integration of organizational knowledge and the development of IC.

Originality/value

In this research, an arguably more complete framework of the relations between MAS, IC and performance is developed and empirically tested. Despite the existence of some literature addressing the relationship between MAS and IC, this is the first study, of which authors are aware, that focuses specifically on the relationships between MAS and the three dimensions of IC (HC, SC and RC), as well as their effects on organizational performance.
The disclosure of intellectual capital in Italian universities
Authors: Sangiorgi Daniela , Siboni Benedetta
Published: March 2017

Purpose

Universities are proper knowledge institutions, since knowledge represents both the input and the output of their activities. Several guidelines have been issued by the European Union and national governments for the promotion of intellectual capital (IC) disclosure by universities. The purpose of this paper is to investigate the amount and nature of voluntary IC disclosure in Italian universities and to gauge the opinion of university managers on IC managing and reporting.

Design/methodology/approach

The study applies content analysis and a survey. The content analysis was applied to a group of voluntary social reports (SRs) issued by Italian universities, while the survey was submitted to all top managers of Italian universities.

Findings

The research found a significant amount of IC disclosure in SRs. Also, university top managers demonstrated an awareness of benefits deriving from IC managing and reporting practices, both for decision-making processes and to respond to stakeholder’s needs.

Originality/value

The current paper contributes to IC literature by providing an assessment of IC voluntary disclosure practices in Italian universities, analysing reports other than the annual report (which is the only document media analysed by research so far). Furthermore, while previous research has focussed on IC disclosure, the current study investigates the motivations for IC managing and provides insights into the benefits deriving from IC reporting in universities.
Intellectual capital in the age of Big Data: establishing a research agenda
Authors: Secundo Giustina , Del Vecchio Pasquale , Dumay John , Passiante Giuseppina
Published: March 2017

Purpose

The purpose of this paper is to contribute to the literature on intellectual capital (IC) in light of the emerging paradigm of Big Data. Through a literature review, this paper provides momentum for researchers and scholars to explore the emerging trends and implications of the Big Data movement in the field of IC.

Design/methodology/approach

A literature review highlights novel and emerging issues in IC and Big Data research, focussing on: IC for organisational value, the staged evolution of IC research, and Big Data research from the technological to the managerial paradigm. It is expected that identifying these contributions will help establish future research directions.

Findings

A conceptual multi-level framework demonstrates how Big Data validates the need to shift the focus of IC research from organisations to ecosystems. The framework is organised into four sections: “why” – the managerial reasons for incorporating Big Data into IC; “what” – the Big Data typologies that enhance IC practice; “who” – the stakeholders involved in and impacted by Big Data IC value creation; and “how” – the Big Data processes suitable for IC management.

Research limitations/implications

The paper provides many avenues for future research in this emerging area of investigation. The key research questions posed aim to advance the contribution of Big Data to research on IC approaches.

Practical implications

The paper outlines the socio-economic value of Big Data generated by and about organisational ecosystems. It identifies opportunities for existing companies to renew their value propositions through Big Data, and discusses new tools for managing Big Data to support disclosing IC value drivers and creating new intangible assets.

Originality/value

This paper investigates the effects and implications Big Data offers for IC management, in support of the fourth stage of IC research. Additionally, it provides an original interpretation of IC research through the lens of Big Data.
Environmental management rivalry and firm performance
Authors: Kumar Anupam , Cantor David E. , Grimm Curtis M. , Hofer Christian
Published: March 2017

Purpose

The purpose of this paper is to build and test theory regarding how rivalry in environmental management (EM) affects a focal firm’s environmental image and financial performance.

Design/methodology/approach

The theory is tested with an original panel data set of 2,776 focal-rival dyad pairs. Measures of environmental signals are developed from content analysis of corporate sustainability reports. Environmental performance data are drawn from the Newsweek US 500 Green Rankings database. Financial performance data are drawn from COMPUSTAT.

Findings

The main findings are that focal firm signals have a positive and significant impact on both focal firm environmental image and financial performance. Rival firm signals have a negative effect on focal firm environmental image. Surprisingly, rival firm signals have a positive impact on focal firm financial performance.

Practical implications

This paper can serve as a testament to the value of monitoring rival firm strategies and signaling to counter the impact of rival signals in the environmental domain. Environmental practices can be a source of competitive advantage for firms, and failure to compete in this space can place the firm at a competitive disadvantage.

Originality/value

This study makes several contributions to the EM literature. Leveraging competitive dynamics and the institutional viewpoints, this study builds theory with regard to how signals of competitive EM activity among a focal firm and its rivals affect environmental image and financial performance.
Entrepreneurial orientation, market orientation and performance of SMEs in the manufacturing industry
Authors: Buli Bereket Mamo
Published: March 2017

Purpose

The Purpose of this paper is to examine the difference in the performance of Small Business using Entrepreneurial and market orientation. There is solid empirical evidence confirming the importance of small and medium-sized enterprises (SMEs) in economic development. Using entrepreneurial and market orientations, this paper investigates the extent to which this strategic orientation contributes to the superior performance of manufacturing SMEs.

Design/methodology/approach

A total of 171 SME managers participated in the survey research. Multiple and linear multiple regression were applied to test the hypotheses.

Findings

The empirical result reveals that integrating entrepreneurial and market orientations into the operation of SMEs contributes to superior performance, which in turn enables them to thrive in institutionally complex and economically turbulent environments. Except for innovativeness, each dimension of entrepreneurial orientation along with market orientation has a positive influence on business performance of small businesses.

Practical implications

Developing economies see SMEs as a path out of poverty, thereby realizing industrialization and sustainable growth. There is a keen interest to adopt proactive policies so as to create competitive domestic industries. Conversely, this can only be realized if states develop policy measures that prioritize or at least emphasize on highly growing SMEs rather than creating jobs that are neither productive nor decent.

Originality/value

The present paper confirms previous findings and contributes additional evidence that suggests working on entrepreneurial and market orientations of SMEs will improve performance and compensate the multi-dimensional constraints imposed by the existing market in developing economies. The finding of this study offers important insights for managers and policymakers.
Six Sigma, stock returns and operating performance
Authors: Ozkan Bora , Rubio J. Francisco , Hassan M. Kabir , Davis James R.
Published: March 2017

Purpose

This paper aims to expand the literature on financial and operational performance by analyzing the effects of undergoing through Six Sigma training.

Design/methodology/approach

The effects of implementing Six Sigma trainings is analyzed for 108 Fortune 500 companies. The authors estimate long-term stock returns and 14 financial ratios of Six Sigma companies, both pre- and post-adoption periods. Furthermore, The authors match the 108 companies by size and industry to 108 non-Six Sigma companies also within the Fortune 500.

Findings

Looking at long-term stock returns, the evidence shows that Six Sigma firms need at least four years before they start to outperform the controlling sample. Furthermore, looking at operational performance, unlike prior reported results, the authors find supporting, and more importantly, persisting statistical evidence that Six Sigma firms are less liquid and have a negative growth in staff levels in comparison to the matching firms.

Social implications

The findings of this suggest that if Six Sigma provides any value to the company, it comes at the expense of overloaded staff levels, as evidenced by the fact that Six Sigma firms have less growth in staff levels than the matching firms.

Originality/value

It is one of the first paper to thoroughly investigate the effects on both financial performance and operational performance of spending, sometimes billions of dollars, in Six Sigma training.
Influence of human resource capital information disclosure on investors’ share investment intentions
Authors: Mariappanadar Sugumar , Kairouz Alma
Published: March 2017

Purpose

The purpose of this paper is to apply the strategic human resource management (HRM) perspective to investigate the schematic relationship between the dimensions of human resource (HR) capital information and intentions to use such information in individual investors’ decisions relating to investing equities in the banking industry.

Design/methodology/approach

A two-stage empirical study was conducted in 2010 using a four-part HR capital disclosure questionnaire, which was developed and validated in stage 1 (n=145) of the study. In stage 2 (n=157), current or previous shareholders in one of the Australian banking sector corporations participated in the study. The collected data were analyzed using confirmatory factor and logistic regression analyses.

Findings

The findings of this explorative study highlight that the individual investors’ perception on the importance of performance management dimension of HR capital information has varied impacts on their intentions to use such information in investment decisions to buy, hold on to, or sell stocks.

Practical implications

This study has made an important contribution to the strategic HRM and behavioral finance literature that the human capital information facilitates the propensity to avoid regrets in selling shares too early (dispositional effect bias) to achieve utility benefits in future which is different from the findings of financial information disclosure study.

Originality/value

A recent critical review of HR disclosure indicated that most of the published articles on HR capital have used company annual reports for data source. However, this is the first study that attempts to understand the impact of HR capital disclosure information on investment intentions from individual investors’ schema rather than drawing data from company annual reports.
Air pollution and short‐term clinical outcomes of patients with acute myocardial infarction
Authors: Lee Min Woo , Choi Byoung Geol , Kim Suhng Wook , Rha Seung‐Woon , Shim Min Suk , Kim Dae Jin , Seo Hong Seog , Oh Dong Joo , Jeong Myung ho ,   Other Korea Acute Myocardial Infarction Registry (KAMIR) investigators
Published: March 2017

Ambient air pollution is well‐known to be a serious risk factor for cardiovascular diseases, stroke, and death. However, the association between air pollutants (AP) exposure and short‐term clinical outcomes in acute myocardial infarction (AMI) patients (pts) has not been elucidated well. In the present study, 37 880 AMI pts were enrolled from October 2005 to December 2013 in a nationwide large‐scale, prospective, multicentre Korea AMI registry (KAMIR registry; http://www.kamir.or.kr). We obtained data on AP (e.g., NO2, SO2, CO, O3 and PM10) from the Korean National Institute of Environmental Research (NIER; http://www.nier.go.kr). Clinical endpoints included death, recurrent myocardial infarction (Re‐MI), any revascularization and composite of all‐cause death and Re‐MI. Exposure to AP is defined as the average exposure to AP within 24 hours before AMI admission. We observed that a 0.01 part per million (ppm) increase in NO2 concentration, 0.001 ppm increase in SO2 concentration, and 0.1 ppm increase in CO concentration each increased the risk of total death by 9.7% (95% CI, 6.2%‐13.4%), 1.9% (95% CI, 0.3%‐3.6%), and 2.1% (95% CI, 0.5%‐3.9%), respectively. Exceptionally, O3 decreased the risk of total death by 0.6% (95% CI −0.2% to −1.0%) per 0.01 ppm increase. PM10 was not related to any cardiovascular events. AP were each stratified into five quintiles according to ranges of AP levels. After adjusting analysis for risk variables, only high quintiles (Q4, Q5) of NO2 were positively associated with total death, cardiac death and MI, while SO2, CO, O3 and PM10 were shown to be not related to any cardiovascular events at all levels. In AMI patients, each AP and its concentration has shown a different effect to short‐term mortality and cardiovascular events.
Amplification of FSH signalling by CFTR and nuclear soluble adenylyl cyclase in the ovary
Authors: Chen Hui , Chan Hsiao Chang
Published: March 2017

The cAMP/PKA pathway is one of the most important signalling pathways widely distributed in most eukaryotic cells. The activation of the canonical cAMP/PKA pathway depends on transmembrane adenylyl cyclase (tmAC). Recently, soluble adenylyl cyclase (sAC), which is activated by HCO3− or Ca2+, emerges to provide an alternative way to activate cAMP/PKA pathway with the cystic fibrosis transmembrane conductance regulator (CFTR), a cAMP‐activated Cl−/HCO3−‐conducting anion channel, as a key player. This review summarizes new progress in the investigation of the CFTR/HCO3−‐dependent sAC signalling and its essential role in various reproductive processes, particularly in ovarian functions. We present the evidence for a CFTR/HCO3−‐dependent nuclear sAC signalling cascade that amplifies the FSH‐stimulated cAMP/PKA pathway, traditionally thought to involve tmAC, in granulosa for the regulation of oestrogen production and granulosa cell proliferation. The implication of the CFTR/HCO3−/sAC pathway in amplifying other receptor‐activated cAMP/PKA signalling in a wide variety of cell types and pathophysiological processes, including aging, is also discussed.
Geographic Disparities in Availability of Opioid Use Disorder Treatment for Medicaid Enrollees
Authors: Abraham Amanda J. , Andrews Christina M. , Yingling Marissa E. , Shannon Jerry
Published: March 2017

Objective

To examine county‐level geographic variation in treatment admissions among opioid treatment programs (OTPs) that accept Medicaid in the continental United States.

Data Sources/Study Setting

Data come from the 2012 National Survey of Substance Abuse Treatment Services.

Study Design/Data Collection

We used local measures of spatial autocorrelation (LISA) analysis to identify (1) clusters of counties with higher and lower than average rates of opioid use disorders and (2) clusters of counties with higher and lower than average treatment admissions among OTPs that accept Medicaid, adjusting for county population size.

Principal Findings

Our results reveal several clusters of counties with higher than average rates of opioid use disorder (OUD) and lower than average treatment admissions among OTPs that accept Medicaid. These clusters are highly concentrated in the Southeast region of the country and include Arkansas, Kentucky, Louisiana, Mississippi, and Tennessee.

Conclusions

Medicaid enrollees in areas in the Southeast have the largest gaps between county‐level OUD rates and estimated county‐level capacity for treatment, as measured by county‐level total treatment admissions among OTPs that accept Medicaid. Policy makers should consider strategies to increase the availability of OTPs with the capacity to serve Medicaid enrollees.
Adapting Evaluations of Alternative Payment Models to a Changing Environment
Authors: Grannemann Thomas W. , Brown Randall S.
Published: March 2017

Objective

To identify the most robust methods for evaluating alternative payment models (APMs) in the emerging health care delivery system environment.

Study Design (Approach)

We assess the impact of widespread testing of alternative payment models on the ability to find credible comparison groups. We consider the applicability of factorial research designs for assessing the effects of these models.

Principal Findings

The widespread adoption of alternative payment models could effectively eliminate the possibility of comparing APM results with a “pure” control or comparison group unaffected by other interventions. In this new environment, factorial experiments have distinct advantages over the single‐model experimental or quasi‐experimental designs that have been the mainstay of recent tests of Medicare payment and delivery models.

Conclusions

The best prospects for producing definitive evidence of the effects of payment incentives for APMs include fractional factorial experiments that systematically vary requirements and payment provisions within a payment model.
Physician Competition in the Era of Accountable Care Organizations
Authors: Richards Michael R. , Smith Catherine T. , Graves Amy J. , Buntin Melinda B. , Resnick Matthew J.
Published: March 2017

Objective

To calculate physician concentration levels for all U.S. markets using detailed data on integration and accountable care organization (ACO) participation.

Data Source

2015 SK&A office‐based physician survey linked to all commercial and public payer ACOs.

Study Design

We construct three separate Herfindahl–Hirschman Index (HHI) measures and plot their distributions. We then investigate how prevailing levels of concentration change when incorporating more detailed organizational features into the HHI measure.

Principal Findings

Horizontal and vertical integration strongly influences measures of physician concentration; however, ACOs have limited impact overall. ACOs are often present in competitive markets, and only in a minority of these markets do ACOs substantively increase physician concentration.

Conclusions

Monitoring ACO effects on physician competition will likely have to proceed on a case‐by‐case basis.