Showing papers in "Euromed Journal of Business in 2019"

Open innovation practices and related internal dynamics: case studies of Italian ICT SMEs

Abstract: Purpose The purpose of this paper is to shed light on challenges and facilitating factors of open innovation practices (OIP) implemented by small- and medium-sized enterprises (SMEs). Design/methodology/approach The empirical research has been conducted on eight SMEs operating in the ICT sector, through a qualitative approach involving comparative case studies. Findings The findings drawn from the interviews indicate that each OIP established entails specific challenges and facilitating factors that SMEs have to face to sustain the open innovation journey and foster competitiveness. These findings helped to draw some important managerial implications and provide insights to SMEs willing to open innovation processes. Originality/value The study identifies OIP used in empirical studies to explore specific challenges and facilitators for each OIP, in the context of SMEs. Previous studies mostly focussed on open innovation sources and scarcely investigated internal dynamics of specific OIP.

Identifying and describing constituents of innovation ecosystems: A systematic review of the literature

Abstract: Innovation ecosystems have not been defined univocally. The authors compare the different approaches to innovation ecosystems in the literature, the link with open innovation, the value creating and value capturing processes in innovation ecosystems, and the need to orchestrate them properly. In this way, the purpose of this paper is to provide a highly needed, concise overview of the state of the art in innovation ecosystem thinking.,A systematic screening of the literature searching for publications focusing on innovation ecosystems is carried out in the paper. The authors found 30 publications and compared the different approaches to innovation ecosystems: the authors classify them according to industries, the level of analysis, their central focus on innovation ecosystems, whether frameworks are developed in the publications, the main actors, focus on SMEs or large companies, the success of innovation ecosystems and the role of the orchestrator.,The authors found different approaches to innovation ecosystems in the literature. Some papers look at the link with open innovation, and others at the value creating and value capturing processes in innovation ecosystems, the role of orchestrators, etc. The authors also provide an overview about the industries, the level of analysis, the central focus of the research, the main actors in the networks and the success factors. The authors observe that most publications have been written in Europe and apply to European ecosystems. The approach in Europe is, to some extent, also different from the main focus of leading American scholars.,The authors compare different approaches to innovation ecosystems. This provides a highly needed understanding of the state of the art in innovation ecosystem thinking. There are some limitations as well: the paper only does a literature review, and the authors are not developing a new framework to study innovation ecosystems.,The literature overview is not primarily focused on practitioners, but the tables in the paper provide a quick overview of good management practices for setting up and managing innovation ecosystems.,Innovations ecosystems are, in some cases, established to solve major societal problems such as changes in healthcare, energy systems, etc. Therefore, they require the interaction between different types of partners including universities, research institutes and governmental agencies. Studying innovation ecosystems is crucial to facilitate social or societal changes.,The paper presents a highly needed overview of the literature about innovation ecosystems and a concise examination of the different aspects that are studied so far.

Stakeholder engagement toward value co-creation in the F&B packaging industry

Abstract: The purpose of this paper is to explore how a food and beverage packaging company manages internal and external stakeholders to achieve sustainable innovation outcomes, as well as to contribute to the spread of sustainability paths along the supply chain, on which it operates.,A case study approach was chosen and applied multiple methods of semi-structured interviews and a documentation review.,Results reveal a structured stakeholder relationship management, according to which the packaging company acts through a stakeholder engagement process to both acquire and share new knowledge to address stakeholder pressure. Co-creation models result in a winning strategy to exploit knowledge, above all in a supply chain context, where actors should act as a part of a strictly interlinked system, involving external stakeholders (also suppliers) and internal stakeholders in joint eco-innovation projects. The case study shows the potential strategic role of a packaging company in affecting relevant actors of the supply chain through the promotion of a sustainability culture.,The first limitation is linked to the chosen case study approach, which does not allow for results to be generalized. Future works could arrange panel data analysis to investigate in depth the behavior of several packaging companies regarding stakeholder relationship management.,Managerial implications mainly underline that, to fully address market stakeholder pressure, managers should recognize the relevance of acquiring and sharing new knowledge from external sources, without underestimating the need to integrate it with internal stakeholders (employees) for its exploitation.,The present work is original for the food and beverage industry, with specific attention on the packaging sector, which, until today, has been widely investigated regarding food and waste loss reduction strategies, but less often from the perspective of stakeholder relationship management in addressing sustainability.

Cash holdings, corporate performance and viability of Greek SMEs: Implications for stakeholder relationship management

Abstract: Several theories have been developed trying to explain the corporate decisions on cash holdings. Stakeholder theory is one of the arguments that urge firms with strong stakeholder relationships to hold more cash. The purpose of this paper is to shed further light on this issue by examining the impact of cash holdings on the financial performance and viability of Greek Small-Medium Enterprises before and after the Greek sovereign debt crisis.,The authors collected a large sample from Small-Medium-sized Enterprises (SMEs) and a comparable sample from large firms operating in Greece during the period 2003–2016. Panel regression analysis was performed before and after the Greek debt crisis.,Results indicated that cash holdings contribute positively to the profitability and viability of firms validating the precautionary theory of cash holdings in Greece. Before the crisis, SMEs and large firms both benefited significantly by cash holdings but after the crisis that positive impact of cash is more evident and significant for SMEs.,These findings corroborate the hypotheses that during a period of limited lending (and severe financial turmoil); cash holdings (and effective cash management) could be a vital tool for sustaining SMEs’ viability and financial performance. This study offers useful managerial implications and contributes to the ongoing debate about the impact of cash holdings on corporate performance.,This is the first study in the Greek business setting trying to examine the impact of cash holdings on financial performance within stakeholder-oriented firms during a period of financial turmoil.

The influence of strategic alliances on human capital development: A study applied to technology-based SMEs

Abstract: The purpose of this paper is to analyse the influence of strategic alliances (knowledge/learning, efficiency and market motives) on the development of human capital.,To do so, a quantitative study was chosen, with data on technology-based small and medium-sized enterprises (SMEs) in Portugal, leading to 257 valid answers.,The results obtained from a structural equation model show that motives for strategic alliances (knowledge/learning, efficiency and market) have a strong influence on the human capital of the SMEs analysed.,These outcomes reveal that strategic alliances are a way for SMEs to overcome resource constraints in terms of human capital, representing an important implication for business practice. As strategic alliances influence human capital, the relations SMEs establish with other firms are increasingly important for their sustainability and development. Acting in isolation in the market can reduce this type of firm’s chances of survival.,Despite some studies relating the formation of strategic alliances and human capital, there is a gap regarding the relationship between the role of strategic alliances and human capital in the technology-based sector. Therefore, this research represents a contribution and innovation in academic terms in this area.

Factors affecting the internal auditors’ effectiveness in the Jordanian public sector: The moderating effect of task complexity

Abstract: The purpose of this paper is to investigate the moderating effect of task complexity on external auditors’ cooperation (EAC), top management empowerment and internal auditors’ independence, which affect internal auditors’ effectiveness in the Jordanian public sector.,This paper utilised 117 usable questionnaires from financial managers and internal audit (IA) managers of the Jordanian public sector institutions. The collected data were analysed using partial least squares-structural equation modelling (PLS-SEM).,The results reveal that EAC, top management empowerment, and internal auditors’ independence are the factors which positively and significantly affect the internal auditors’ effectiveness, as supported by the resource-based theory, with incomplete support for the task complexity’s role as a moderator.,The findings are important for the decision-makers and regulators in introducing new legislation and regulation for the IA profession in the Jordanian public sector.,It is shown that the factors affecting the internal auditors’ effectiveness can definitely enhance their ability to achieve the role of IA in protecting public funds and limiting financial and administrative corrupt practices, particularly in the public sector.,To the best knowledge of the authors, this study is one of the first studies that addresses task complexity as an interaction effect on the factors affecting internal auditors’ effectiveness in the public sector.

Social performance of the company: An explanation centralized on the social and technological factors

Abstract: The notion of social performance of the company (SPC) is a fundamental concept of the research on ethics of business and work on company-society relationships. The study raises several debates concerning SPC’s determinants. The purpose of this paper is to provide a framework of SPC along with its social and technological determinants. After identification of the determinants, the authors have searched through a managerial perspective to recognize the effects of these determinants on SPC.,Content analysis of 18 semi-structured interviews with the HR managers, and statistical analysis of data collected from Managers/HR Managers (n=250) working in private and public sector banks of Tunisia was undertaken. Structural equation modeling (SEM), has been used to test the hypotheses and statistically validate the proposed relationships. Data for the study were collected online.,Results indicate a strong interrelationship between SPC and its determinants. Such an interrelation aims to enrich the framework of analysis of the SPC by considering the action of social responsibility of the company, organizational commitment and managers’ characteristics on one hand, and human resources information system, the practices of knowledge management, and facilitating conditions for the use of the information and communication technologies on the other.,The study reconciles various perspectives in the SPC literature and presents a comprehensive model of SPC by identifying its determinants – social and technological, which could stimulate the SPC in Tunisian context.

A framework to manage business-to-business branding strategies

Abstract: In the past decades, a growing body of studies has assessed the importance of brands in business-to-business (B2B) markets. However, until date, a comprehensive understanding of B2B branding strategies is lacking. Hence, the purpose of this paper is to develop a framework to select and manage B2B branding strategies.,This study’s arguments are developed in line with MacInnis’s (2011) guidelines on conceptual contributions in marketing.,As a result of the arguments of this study, a framework is developed to identify the relationships between the types of B2B contexts and effective B2B branding strategies.,Despite deriving from an extensive analysis of the literature, the framework requires future empirical validation. Moreover, the relationship linking a supplier to its customer is unique, and hence, each supplier should carefully select a branding strategy depending on the specific situation.,The suggested framework provides actionable insights to inform managers’ decisions about the most effective B2B strategy for their firm, based on the relational complexity (number of customers, intensity of co-production and co-creation, and dyadic vs multiple-actor view).,This is the first study to provide a comprehensive model of B2B branding strategies. Therefore, it contributes to both advance theoretical knowledge and managerial practice.

Return and volatility spillovers between Bitcoin and other asset classes in Turkey: Evidence from VAR-BEKK-GARCH approach

Abstract: With a substantial return and volatility characteristic of Bitcoin, which may be seen as a new category of investment assets, better understanding of the nature of return and volatility spillover can help investors and regulators in achieving the potential goal from portfolio diversification. The paper aims to discuss these issues.,This paper explores the return and volatility transmission between the Bitcoin, as the largest cryptocurrency, and other traditional asset classes, namely stock, bond and currencies from the standpoint of Turkey over the period July, 2010–June, 2018 using the newly developed multivariate econometric technique, VAR–GARCH, in mean framework with the BEKK representation.,The empirical results reveal the existence of the positive unilateral return spillovers from the bond market to Bitcoin market. Regarding the results of shock and volatility spillovers, there exists strong evidence of bidirectional cross-market shock and volatility spillover effects between Bitcoin and all other financial asset classes, except US Dollar exchange rate.,The important extention is the adoption of a newly developed multivariate econometric technique, VAR–GARCH, in mean framework with the BEKK representation, proposed by Engle and Kroner (1995), which is employed for the first time specifically to examine the extent of integration in terms of volatility and return between Bitcoin and key asset classes. Second, Bitcoin has experienced a rapid growth since around a decade and a number of investors are showing interest in its potential as an integrative part of portfolio diversification. The information provided by empirical results gives empirical bases from which to address topics concerning hedging purposes and optimal portfolio allocation. It is also increasingly important to analyze the current behavior of Bitcoin in relation to other assets to provide policy makers and regulatory bodies with guidance on the role of the Bitcoin as an investment asset in Turkey. Thus, this is the first serious attempt at exploring the potential for Bitcoin to offer diversification opportunities in the context of Turkey.

Entrepreneurship and the cities in a knowledge-based perspective: evidences from EU

Abstract: The purpose of this paper is to answer the following research questions: Is the knowledge of a city environment a stimulus for entrepreneurship? Which knowledge profiles of cities are more propulsive in order to stimulate entrepreneurship?,In order to answer the aforementioned research questions, two multidimensional indexes have been created: Knowledge-Based City Developing Entrepreneurship and Entrepreneurship (ENT). The sample includes all capital cities in the EU28. The presence of cities from EU28 countries is important to foster the entrepreneurial attitude in each European Country. The authors have also included 32 non-capital cities in the EU that are important hubs, contributing to a sample formed of 60 cities.,The empirical results show that the social and cultural environment may significantly improve the entrepreneurship in EU cities, more than others factors that are usually connected to economic development.,The work tries to contribute to the debate on urban economic development and entrepreneurship, providing implication for academics and urban policy makers.

Does employees’ psychological capital buffer the negative effects of incivility?

Abstract: Workplace relationship has widely been recognized as an important factor to shaping employees’ workplace experience. Workplace incivility, a low-intensity form of deviant behavior, is deemed to have an adverse effect on both businesses and their employees. However, the role of individuals’ positive psychology in buffering the adverse effects of workplace incivility remains unclear even though social stressors like incivility are prevalent among Jordanian heath care workers. Applying the conservation of resources (COR) theory and social exchange theory (SET), the purpose of this paper is to investigate the relationship between coworker incivility and psychological distress as moderated by psychological capital (PsyCap).,Survey data were collected from a sample of Jordanian health workers and a structural equation modeling technique was utilized.,The findings show that coworker incivility predicts higher levels of psychological distress, and employee PsyCap moderates the link between incivility and psychological distress.,Although research concerning the link between incivility and unwanted work or personal outcomes has been established, studies examining the variables that can buffer these effects are largely lacking. This study fills this void in the literature. The implications for practice and theory are discussed.

Corporate social responsibility in a local subsidiary: internal and external stakeholders’ power

Abstract: Using a theoretical and empirical focus on the power stakeholders exert, the purpose of this paper is to provide a better understanding of the factors that influence the subsidiaries of multinationals’ participation in corporate social responsibility (CSR) under the pressures (expectations and demands) their complex system of internal and external stakeholders’ places upon them.,Using an in-depth case study, the relationship a local subsidiary in the food and beverage industry has with its stakeholders as regards CSR is analyzed.,The findings illustrate three main aspects: how the local company is affected by and how it affects its stakeholders (an example of the multidirectionality of power and influence); the direct and indirect practices that are adopted to address challenges; and the importance of the role the local subsidiary plays as an implementer and diffuser of its parent organization’s responsible practices across the industry value chain.,To the best of authors’ knowledge, the focus is on analyzing the power stakeholders have in the context of multinational companies that has not been applied before, and the outcome of using this approach is that the authors have uncovered gaps in the literature for future research.

Enhancing stakeholder networks in wine tourism – evidence from Italian small municipalities

Abstract: The purpose of this paper is to explore validity and reliability of a possible collaboration model for wine tourism with a “public” basis, i.e. from the point of view of the municipality engaged in promoting the wine tourism industry insisting on the territory.,The survey, proposing a theoretical/empirical framework, has investigated, through an electronic platform, the municipalities belonging to the National Association of “Wine Cities.”,The research has demonstrated a substantial trustworthiness of the model, with further evidence about the underestimation of stakeholder networks on behalf of Italian small municipalities. A clear difference of perception between non-small municipalities and small municipalities has emerged with regard to the perceived relevance of the collaboration with the territorial wine tourism players/stakeholders.,A recent legislation in Italy, just focused on small municipalities, might help overcome these gaps, between non-small municipalities and small municipalities, releasing in the territories new energies for the development of wine tourism, from both planning and financing points of view.,Italy as country is the largest producer of wine in the world. Similarly, wine tourism, as additional wine business opportunity, is a successful phenomenon in Italy, even though with great margins of development (especially with comparison to the New World of Wine). One of the main limits of this delay is the lack of public-private collaboration, at widespread level, among the players/stakeholders of the sector. The model that has been proposed in this research contributes scientifically and practically to fill this gaps.

Customers satisfaction by fuzzy synthetic evaluation and genetic algorithm (case study): Travel websites in Iran

Abstract: Purpose The purpose of this paper is to present a new technique for the determination of effective criteria weight on satisfaction using genetic algorithm and fuzzy synthetic evaluation. Design/methodology/approach The weight values express the relative importance of criteria. In most of research works, weight values depend heavily on expert knowledge, and customer’s perspective have not been considered. The proposed approach determines the criteria weight on satisfaction using genetic algorithm and fuzzy synthetic evaluation considering Euclidean distance between the computed overall satisfaction evaluation and the surveyed overall satisfaction evaluation. Findings The research findings show that different segments of customer have various needs and explain causes of various needs in customers using genetic algorithm and fuzzy synthetic evaluation. Originality/value The value of the paper is in it using a new approach in order to determine the weight of criteria. The main advantage of proposed approach is that it will help managers and researchers to determine the weight of criteria on satisfaction, and this process will no longer just rely on expert knowledge.

Tax compliance during fiscal depression periods: the case of Greece

Abstract: Governments count on tax revenues in order to finance their fiscal and social activities. The purpose of this paper is to analyse the citizens’ conception of tax compliance and examine the factors affecting tax behaviour.,This survey was conducted through a stratified sample and questionnaires consisted of closed-ended questions. A linear regression and a series of reliability tests including an analysis of variance were conducted with IBM Statistical Package for Social Sciences.,The majority of the respondents demonstrate a positive perspective towards tax compliance and tax administration employees that inspire it. However, while the fairness of the tax system is evident, findings indicate a deeper issue of social and behavioural influences, including the characteristics of tax administrative employees and tax morality.,The findings are subject to over- or sub-representation, since the sample derived from groups whose occupations feature strong tax compliance. The study was conducted in Greece, and it is possible that the results can be generalised to developing countries with similar economic environments and fiscal circumstances.,Non-economic factors affect tax behaviour and the formation of modern tax strategies. This survey enables governments to improve tax compliance rates and increase tax revenues. Fiscal depression tends to decrease state revenues. Tax compliance factors should be taken into account through tax decision-making processes and ensure efficient tax collection.,This paper furthers the existent literature and deepens in non-economic factors of morality, revealing tax behaviours instigated by reasons beyond tax unfairness.

Managers’ perceptions of trust in the workplace in times of strategic change

Abstract: The purpose of this paper is to explore and present current trends and developments in the field of managers’ perceptions of trust and the management of change in Cyprus, Greece and Romania, in a period of strategic organizational change. A total of 126 managerial employees (communication managers, operation managers, quality control managers, safety & environmental managers, and office managers) working in different departments of organizations in Cyprus, Greece, and Romania respond and complete the online questionnaire.,A qualitative study using an online questionnaire with interview questions was developed to arrive at the study’s findings. To acknowledge relevant perceptions of trust and the management of change during organizational change in different organizations in Cyprus, Greece and Romania, unique questions helped to support the research results and highlight themes that emerged from interview sessions with the study participants.,The findings highlight the need for organizational leadership to establish mutual trust and effective communication with managerial employees for successful cooperation during times of strategic change and enhanced overall employee performance. This study is relevant for researchers and academics in the areas of change management and communication, presenting current trends and developments in perceptions of trust and change management in Cyprus, Greece and Romania. It may also help them achieve recognition among their peers and colleagues from other disciplines.,An important implication of the study derives from the finding on the uniqueness of the knowledge and information work carried out by the respondents and the impact that this can have in their working environment and their productivity. As a result of the above, this study provides indications to recruiters and managers regarding a number of desirable and necessary skills, and motivational factors that future employees may need to have or develop in order to carry out their job efficiently and effectively.,Researching managerial employees’ perceptions of trust and the management of change in organizations can have significant implications for human resources management during a time of strategic change.,This research study may contribute to the management and communication area in European countries in stimulating new approaches to management and social issues and in the corporate management practice.,This study produces new knowledge instead of summarizing what is already known in a new form in the area of management and corporate communication. The researcher reports the results in analysis and interprets the results by discussing possible implications and solutions.

Value relevance of earnings and book values in the Qatari Stock Exchange

Abstract: Purpose The study of developed capital markets suggests that information provided in financial statements has lost its value relevance to equity holders. The purpose of this paper is to explore this issue in the emerging market of Qatar. Design/methodology/approach Following other studies in the literature, the study examines the value relevance of earnings and book values using the price valuation model provided by Ohlson (1995). A total of 215 observations were collected from all firms listed on the Qatari Stock Exchange over a period of five years (2012–2016). Findings This study suggests that the value relevance of both earnings and book values has noticeably decreased over the sample period. However, its results show that the decline in the value relevance of earnings favored book values. Research limitations/implications Like other studies, this one has limitations that suggest areas for future research. For example, in Qatar, like other emerging markets, a lack of data prevents the performance of deep analysis. Additionally, the authors only use Ohlson’s (1995) model as a framework for evaluation. It would be interesting to explore the changes when examining alternative valuation models. Another limitation is that the authors examine only two accounting measures: earnings and book values. Further research could explore changes in the value relevance of other measures, such as cash flow. Practical implications These findings provide empirical evidence regarding the value relevance of earnings and book values in an emerging market. Originality/value To the authors’ knowledge, this paper provides the first empirical evidence regarding the value relevance of earnings and book values in the emerging capital market of Qatar.

Exploring ethical consumption in different geographical places

Abstract: The purpose of this paper is to examine the three types of ethical consumption (positive, negative and discursive) simultaneously in three different geographical areas, namely, Hebron (PL), Sofia (BG) and Thessaloniki (GR).,Personal interviews were conducted in the three cities during autumn 2016 with the use of a structured questionnaire. Large enough samples were selected with the one-stage area sampling. The sampling unit was one adult person of all households in each randomly selected city block.,The consumers of all cities were not found frequently engaged in any ethical consumption type. Demographic analysis revealed extensive differences across each one of the behaviours in each one of the cities. Attitudinal and psychographic analyses indicated that consumers, who are less ethically disinterested and more generous, were found to be more frequently engaged in ethical purchase in all the three cities. Evidence was found that less ethically disinterested and more generous consumers are more likely to get engaged in boycotting calls, in Hebron and in Thessaloniki. Less ethically disinterested consumers were also found more active in discursive activities in Sofia and Thessaloniki.,Certain amendments of the behavioural and attitudinal scales could be essential to ensure the same level of measurement accuracy in different geographical areas. Larger and more representative of the overall population samples are needed to facilitate the generalisation of the results. Examination of cultural and political perspectives might add to the understanding of consumers’ ethical consumption in different contexts.,Firms interested in adopting ethical strategies or consumer groups that would like to call a boycotting or a consumer activism campaign should address their communication strategies towards targets that are described by the results in regard to each geographical area.,This study added to the limited so far relevant knowledge about the simultaneous examination of the three types of the overall ethical consumption in three different cities; interesting differences and similarities were revealed.

Psychology and behavioral finance: Anchoring bias by financial analysts on the Tunisian stock market

Abstract: The purpose of this paper is to detect quantitatively the existence of anchoring bias among financial analysts on the Tunisian stock market. Both non-parametric and parametric methods are used.,Two studies have been conducted over the period 2010–2014. A first analysis is non-parametric, based on observations of the sign taking by the surprise of result announcement according to the evolution of earning per share (EPS). A second analysis uses simple and multiple linear regression methods to quantify the anchor bias.,Non-parametric results show that in the majority of cases, the earning per share variations are followed by unexpected earnings surprises of the same direction, which verify the hypothesis of an anchoring bias of financial analysts to the past benefits. Parametric results confirm these first findings by testing different psychological anchors’ variables. Financial analysts are found to remain anchored to the previous benefits and carry out insufficient adjustments following the announcement of the results by the companies. There is also a tendency for an over/under-reaction in changes in forecasts. Analysts’ behavior is asymmetrical depending on the sign of the forecast changes: an over-reaction for positive prediction changes and a negative reaction for negative prediction changes.,The evidence provided in this paper largely validates the assumptions derived from the behavioral theory particularly the lessons learned by Kaestner (2005) and Amir and Ganzach (1998). The authors conclude that financial analysts on the Tunisian stock market suffer from anchoring, optimism, over and under-reaction biases when announcing the earnings.

Cross-border acquisitions and family businesses

Abstract: The purpose of this paper is to shed light on the propensity of family firms to join a cross-border acquisition as acquirers.,The present study analyzes a sample of 270 acquisitions in the period 2015–2017 whose acquiring firms are represented by family and nonfamily listed European firms.,The results point out that family firms are less likely to make a cross-border acquisition than nonfamily counterparts.,Mergers and acquisitions (M&A) activity is cyclical by nature, represented by waves of concentrated intensity rather than necessarily by constant activity over time. Therefore, the main limitation is represented by the period analyzed (2015–2017), which restricts the possibility of seizing a greater number of transactions.,If careful evaluation leads to the consideration of M&A as the optimal mode of entry into a certain foreign market, family firms should broaden the pool from which managers are selected in order to access more qualified staff, who are able to face international M&As.,In recent years, a growing body of literature has focused on the effects of family ownership on the propensity of making an M&A, on the method of payment chosen by an acquired family firm, and on the reaction of the market at the announcement of a family business’ M&A. However, despite of the relevance of the entry modes of firms’ internationalization strategies, scant attention has been devoted to cross-border M&As conducted by family firms, which occur when a family firm acquires a firm located in a foreign country. In order to fill the research gap, this work investigates the likelihood of a family firm’s acquisition of a foreign target.

Can green taxation trigger plug-in hybrid electric vehicle acquisition?

Abstract: The purpose of this paper is to analyse to what extent financial incentives under the green tax reform introduced in Portugal in 2014 drive behaviours of acquiring a plug-in hybrid electric vehicle (PHEV).,The existent literature identifies a number of factors that influence the interest for PHEV acquisition, including access to financial incentives. However, empirical evidence is not clear as to which factors are more relevant. The authors extend an existent theoretical model of five factors by including ten factors. On this basis, the study carries out a survey and develops a structural equation model to investigate what drives the interest to acquire a PHEV.,Financial incentives are superior to other factors in explaining the interest in acquiring a PHEV. Education, lower income levels, living in larger cities and driving smaller vehicles shape the interest on these vehicles differently. Financial incentives were found to closely offset the difference in price between conventional vehicles and plug-in hybrids.,This study finds that public policies can be powerful in shaping consumers’ behaviour, although the amount of the financial incentive is key to triggering a large-scale effect.,The survey in this study allows an in-depth and ex ante analysis of the interest in acquiring PHEV under a green tax reform, taking into account other dimensions and socio-economic variables not accounted for in existent studies.

Do five-star hotel managers know their customers’ priorities? An AHP-Prioritised scorecard study

Abstract: Regular surveys by the Malta Hotels & Restaurants Association indicate a substantial improvement in the financial performance of five-star hotels in Malta in recent years. Therefore, the purpose of this paper is to investigate if this positive performance is primarily due to customer centricity by management.,The assessment is based on the findings of a quantitative study that compared the results of a demand side (customer survey) with those of a supply side (management survey). In total, 24 decision-choice criteria were framed within the four perspectives (financial, customer, internal process and employee learning/growth) of the balanced scorecard. Actual and potential customers of five-star hotels and hotel managers were asked to rank the decision-choice criteria and the balanced scorecard perspectives. The multi-criteria decision analysis was carried out by means of the AHP.,The study showed that managers in the five-star hospitality sector in Malta are in harmony with customer expectations given the strong positive correlation between the results of the customer and management surveys.,This research is limited to the island of Malta but can be easily replicated for other touristic destinations.,This study has implication for hospitality customers, hotel managers and policy makers to help them to identify weak areas of hotel performance and improve them.,The paper has developed a Prioritised scorecard, a new hybrid balanced scorecard and AHP. Targets are therefore prioritised, which allow a better allocation of scarce resources.

Local rooting and creativity within the fashion industry in Beirut

Abstract: The purpose of this paper is to analyze the factors that make Beirut a fashion hub by studying the characteristics of creativity and the role of the different stakeholders in setting an environment that encourages creativity in Beirut.,The methodology of this research is based on a literature review and information collected through semi-structured interviews with the different stakeholders of the sector.,The research reveals three results. First, this dynamic fashion design in Beirut is explained by the international success of some Lebanese fashion designers. Second, as there is an absence of any form of governmental intervention, the development of the sector is totally based on private business initiatives. Third, the research demonstrates the importance of the local culture, knowledge exchanges and lifestyle in shaping creativity and designers’ careers in Beirut.,These findings contribute to the clarification and critical analysis of the current state of fashion design in Beirut, which would have several policy implications.

Servitization strategy adoption: evidence from Italian manufacturing firms

Abstract: Purpose Despite the widespread application and implementation of servitization strategy by manufacturing firms worldwide, little attention has been devoted to its adoption by European-Mediterranean countries, such as Italy. Thus, the purpose of this paper is to fill this gap by investigating if and how Italian manufacturing firms adopt a servitization strategy. Design/methodology/approach According to the paper’s aim, the survey methodology has been chosen and a specific questionnaire has been constructed by adopting and adapting the questions used by Baines et al. (2010). Key respondents were CEOs and General Managers of the manufacturing firms surveyed. Findings Findings show the main features and determinants of the adoption of a servitization strategy by Italian manufacturers as well as a comparison between them and UK manufacturers, determining both theoretical and practical implications. Research limitations/implications This paper investigates the manufacturing firms located exclusively in the Italian region of Lazio. Thus, even though it is reasonable to believe that they can be considered as representative of the Italian reality, future enrichment of the sample could provide further insights into the investigation of the Italian case. Originality/value The paper examines the little-researched adoption of servitization by Italian manufacturing firms, contributing to the servitization research and providing evidence on its trends in a specific European-Mediterranean region.

Movie piracy: how novelty-seeking relates to illegal downloading

Abstract: Movie piracy is triggered by the release delay of new movies in various countries, especially if novelty awareness is considered an asset among peers. Therefore, novelty seeking becomes a relevant factor in the illegal downloading of movies, especially among a younger population that has a higher propensity to novelty seeking. The purpose of this paper is to study novelty seeking in the context of illegal downloading of movies among a young population. More specifically, this study will highlight the relation of novelty seeking with the frequency of illegal downloading of movies and attitudes towards piracy in general.,The study is based on data that were obtained via survey in Lithuania. The use of SEM allowed development of a model that integrates novelty seeking with the more typical factors of digital piracy.,The study shows a relation between novelty seeking, attitudes towards piracy and the frequency of illegal downloading of movies.,The study shows the importance of novelty seeking in the context of movie piracy. It specifies the relation of novelty seeking with attitude and behaviour, highlighting directions for further research.

Factors that impact farmers’ engagement in local food brand development

Abstract: The purpose of this paper is to explore farmers’ intentions to engage in food brand development schemes and identify the factors that impact this.,By assuming the utility maximization behavior of farmers, based on data collected from 539 fruit and vegetable producers, this study estimates an intention to participate and a willingness to pay model.,Three groups of factors determine the utility the farmers derive and subsequently their engagement in brand development. Farm business characteristics include farmers’ age, the attainment of quality certification and cultivated area, while psychological factors include farmers’ attitudes toward local reflections of the brand, perceptions regarding the need for farm business external support and consumers’ interest, as well as farmers’ commitment to quality requirements. Farmers’ strategies related to the share of products sold by cooperatives and to individually use the brand also determine their engagement in a brand development scheme.,Future research should distinguish producers according to the marketing channel they choose and their industry, and explore the intentions of intermediate marketers.,Marketing cooperatives should undertake initiatives to develop local brands effectively, taking into consideration the factors that impact farmers’ engagement, while food marketing firms should properly adapt their purchasing and promotion strategies. Public authorities should formulate a policy mix that enhances farmers’ knowledge related to marketing issues and encourages farmers to strengthen their positions in the marketplace.,The research reveals a strategic proactive behavior of farmers favoring the development of local brands, and provides insights into the factors that impact farmers’ adoption decisions.

The effects of socio-political context on Tourism

Abstract: The purpose of this paper is to examine the effects of tourists’ perceptions of political and economic instability and risks of terrorism on their intentions to travel to countries associated with various risks.,A total of 648 Greek, Israeli and Portuguese students completed a questionnaire focusing on their perceptions concerning factors that shape their travel decisions.,The findings showed that among tourists from Greece and Portugal, the experience of economic crisis and the salience of economic and political hardships mitigated their intentions to travel to destinations with similar problems. These factors had no effect on Israelis, who have not experienced such problems in their country. Frequent terrorist incidents diminished the intentions of Greek tourists to travel to destinations marked by terrorism, such as Israel. Thus, different factors affect tourists’ travel-related decisions in each of the three countries.,The study sheds light on how potential tourists construe the risks of traveling to specific destination countries based on hazards in their home countries, a topic that to date has received little research attention.