WorldWideScience

Sample records for market research firm

  1. The use of storytelling in quantitative research reports: A marketing research firm perspective

    Directory of Open Access Journals (Sweden)

    Vanessa Maritz

    2014-07-01

    Research purpose: This article investigates the use of storytelling as a tool for actionable reporting by South African marketing research firms Motivation for the study: Clients of marketing research firms often criticise research reports as being too technical and lacking in strategic value. Storytelling is a reporting technique that can be used to develop actionable research and provide clients with more strategic value. Research design, approach and method: A total of 26 in-depth qualitative interviews were conducted with client service directors and managers of marketing research firms that deliver quantitative research reports to clients. Main findings: Results indicated that all marketing research firms but one use storytelling. Barriers that impede more regular use are inexperienced research executives and the time intensity associated with creating stories. Practical/managerial implications: Storytelling should be used by marketing research firms to provide clients with more actionable research. Contribution/value-add: The study provides marketing research firms in South Africa with recommendations as to how to implement storytelling as a reporting technique, which will add value to clients and enable marketing research firms to remain competitive and develop relationships with clients.

  2. The use of storytelling in quantitative research reports: A marketing research firm perspective

    OpenAIRE

    Vanessa Maritz; Daniel J. Petzer; Christine De Meyer

    2014-01-01

    Orientation: Actionable reporting ensures that a marketing research firm communicates with clients to achieve business impact as opposed to merely communicating data to clients. Storytelling communicates with impact as it focuses on creating engagement and inspiring action. Research purpose: This article investigates the use of storytelling as a tool for actionable reporting by South African marketing research firms Motivation for the study: Clients of marketing research firms often cr...

  3. South African exporter performance: new research into firm-specific and market characteristics

    Directory of Open Access Journals (Sweden)

    Christopher May

    2012-05-01

    Full Text Available The export marketing performance of any firm is influenced by a multitude of different factors. Given the multi-faceted nature of the export market, this research study investigated specific factors such as how firm-specific characteristics, product characteristics, market characteristics and export marketing strategies impact on the export marketing performance of South African manufacturing firms. Some of the findings of this research study indicated that firm size, investment commitment and careful planning, as firm-specific characteristics, had a significant influence on export marketing performance. The relationship between export experience and export marketing performance was insignificant. The degree of pricing adaptation and product adaptation had a significant effect on export marketing performance, while this was not the case with respect to the degree of promotion adaptation and distributor support.

  4. How does firm performance influence market orientation?

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe; Stieglitz, Nils

    This paper contributes by investigating how firm performance influences its market orientation. We draw on the aspiration-level model from the behavioral theory of the firm to develop testable propositions that substantiate and extend prior market orientation research. Specifically, we address how...... performance influences firms' market-oriented search behavior (responsive or proactive) and the allocation of attention (customer and competitor orientation) as well as the formation of aspiration levels. Research and managerial implications are discussed....

  5. Sales-marketing interfaces within business-firms : Transitions and evolution

    NARCIS (Netherlands)

    Biemans, W.G.; Makovec Brencic, M.; Malshe, A.

    2012-01-01

    In these turbulent economic times sales-marketing interfaces in business firms are in the state of flux. Sales-marketing interface researchers have till date characterized marketing within business firms in terms of a marketing department rather than a marketing function thereby ignoring B2B firms

  6. BIG DATA RESOURCES, MARKETING CAPABILITIES, AND FIRM PERFORMANCE.

    OpenAIRE

    Suoniemi, Samppa; Meyer-Waarden, Lars; Munzel, Andreas

    2017-01-01

    RESEARCH QUESTION Big data may significantly improve the efficiency and effectiveness of the firm's marketing capabilities. However, firms must overcome technological, skill-based and organisational challenges to become data-driven. Academic research has not empirically investigated how strategic big data resources, and to what extent, influence strategic marketing capabilities and, by extension, firm performance. The primary objective of this research is to remedy this crucial knowledge ...

  7. CORPORATE GOVERNANCE AND FIRM VALUE IN EMERGING MARKETS AN EMPIRICAL ANALYSIS OF ADR ISSUING EMERGING MARKET FIRMS

    Directory of Open Access Journals (Sweden)

    Aysun Ficici

    2012-01-01

    Full Text Available This study explores the value implications of good corporate governance for a sample of 54 ADR issuing emerging market firms (EMFs from 9 countries primarily located in the regions of Asia, Eastern Europe and Latin America and the and employs recently constructed company composite corporate governance metric along with some alternative corporate governance measures associated with the origin of the issuing firm. Although the ADR literature primarily focuses on the impact of subscription to US disclosure requirements we contend that company and country specific corporate governance standards play a significant role in the risk reduction and ensuing value capture.  The fundamental inquiry in this study has the following foci: The primary focus is on the impact of corporate governance structures on firm performance as to whether adherence to standards creates market value for ADR issuing EMFs.  Do good corporate governance practices affect the value of EMFs? The secondary focus is concerned with whether the impact of corruption level and legal system in a firm’s home country affect the corporate structures of EMFs thus affecting the market value of firms.  In this study, we utilize Tobin’s q as the measure of firm performance/market value.  Our findings suggest that there is a significant correlation between corporate governance structures of ADR issuing EMFs and their market values and/or performances.  The results also indicate that the level of corruption and legal structures in home countries of EMFs strongly impact the corporate governance structures of these firms and sequentially affect their market values. Therefore, this research further contributes to the scholarly findings and suppositions that corporate structures of firms do create consequences on firm value.

  8. MARKET SEGMENTATION PRACTICES OF RETAIL CROP INPUT FIRMS

    OpenAIRE

    Jay Akridge; Mike Boehlje; Allan Gray; Aaron Reimer

    2007-01-01

    While market segmentation and the associated idea of target marketing are not new, there are questions about how the strategy of market segmentation and target marketing is being used in retail agribusiness firms. Previous research has demonstrated that distinct groups of farmers/customers exist (Alexander). However, retail crop input firms tend to be of modest size and are geographically bound. Both lack of resources and confinement to a specific geographic market present challenges for succ...

  9. A Research on The Effects of Marketing Spending on Firm Value

    Directory of Open Access Journals (Sweden)

    Mesut Doğan

    2015-06-01

    Full Text Available The purpose of this study is to investigate the influence of “Marketing Expenses”on firm value. The study uses data belonging to 120 firms, which are traded in Borsa Istanbul (BIST in the period of 2009-2012. The independent variables used in the study consist of “Return on Assets” (ROA and “Return on Equity”(ROE, which are accounting based performance indicators. The other is "Tobin's q" ratio which is market-based ratio. The regression and correlation analysis have been employed in empirical analyzes. The result of the conducted analysis showed that the increase in marketing expenses influences value of the firms in a positive way. As a result, organizations should accept the marketing expenses not only as a spending but also an investment as a value added to business

  10. Microcap pharmaceutical firms: linking drug pipelines to market value.

    Science.gov (United States)

    Beach, Robert

    2012-01-01

    This article examines predictors of the future market value of microcap pharmaceutical companies. This is problematic since the large majority of these firms seldom report positive net income. Their value comes from the potential of a liquidity event such as occurs when a key drug is approved by the FDA. The typical scenario is one in which the company is either acquired by a larger pharmaceutical firm or enters into a joint venture with another pharmaceutical firm. Binary logistic regression is used to determine the impact of the firm's drug treatment pipeline and its investment in research and development on the firm's market cap. Using annual financial data from 2007 through 2010, this study finds that the status of the firm's drug treatment pipeline and its research and development expenses are significant predictors of the firm's future stock value relative to other microcap pharmaceutical firms.

  11. External relationships and marketing practices in Serbian firms: The intangible capital perspective

    Directory of Open Access Journals (Sweden)

    Mitić Sanja

    2015-01-01

    Full Text Available This paper presents selected results of research on intangible capital in Serbian firms. The results are part of a broader research project, based on a survey of a sample of Serbian firms. The focus of the project is the various forms of intangible capital, and in this paper we analyse whether and to what degree firms build up their brand capital and increase marketing competencies, and what kind of external relationships they experience. The results provide the first insight into the development of the marketing resources of Serbian firms and show that this element of intangibles is gradually improving but still is at a low level. We find significant differences in the use of marketing resources between firms in regard to their size, international market experience, and ownership type. A more significant development of brand capital, external relationships, and marketing innovations and competencies is found in larger firms, firms with considerable international business experience compared to firms primarily oriented to the domestic market, and in foreign-owned firms. After identifying the strengths and weaknesses of marketing practices in Serbian enterprises we suggest some measures for overcoming the analyzed constraints in order to improve firms’ market positioning, especially in foreign markets.[Projekat Ministarstva nauke Republike Srbije, br. 179062

  12. Capital market financing, firm growth, and firm size distribution

    OpenAIRE

    Didier Brandao,Tatiana; Levine,Ross Eric; Schmukler,Sergio L.

    2015-01-01

    How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution? To evaluate these questions, a new data set is constructed by matching data on firm-level capital raising activity with balance sheet data for 45,527 listed firms in 51 countries. T...

  13. Market Imperfections and Firm-Sponsored Training

    NARCIS (Netherlands)

    Picchio, M.; van Ours, J.C.

    2010-01-01

    Recent human capital theories predict that labor market frictions and product market competition influence firm-sponsored training. Using matched worker-firm data from Dutch manufacturing, our paper empirically assesses the validity of these predictions. We find that a decrease in labor market

  14. Choosing R&D or advertising for competing firms in uncertain market

    Directory of Open Access Journals (Sweden)

    Bo Xie

    2014-06-01

    Full Text Available Purpose: R&D and advertising have become important means to enhance the competitiveness of firms’ products. Design an appropriate model to help the firm to make the right choice is value in supply chain.Design/methodology/approach: In considering that whether the market is completely covered or not, we build the strategy selection model for R&D and advertising for two competing firms and solve the optimal strategy.Findings and Originality/value: The research results show that when a firm does not take any measures to enhance competitiveness, another firm will neither. However when one takes measures to improve the competitiveness, another will do so, also. When two firms must choose one measure to improve the competitiveness, either in full-covered market or not full-covered market, the two firms will not choose to do advertising in step, even if the firms do not have to pay additional cost in advertising.Originality/value: In the game model, the firm could compare the own profit in different strategies. According to the above model, the firm choose the right strategy to make the profit maximize in a vertically differentiated market. And when the firm make the choice, it must think about other primary elements such as market.

  15. Markets for Technology and the Importance of Firm-Specific Search for Innovation Performance

    DEFF Research Database (Denmark)

    Sofka, Wolfgang; Grimpe, Christoph

    Firms rely increasingly on external knowledge, e.g. from universities, to improve their innovation performance. Existing research models the acquisition of knowledge either as a firm-specific search or a purchase on markets for technology. The former implies that a firm chooses and develops...... relationships with knowledge sources while the latter suggests a transaction governed by markets. We argue that both mechanisms increase a firm’s innovation performance but that they are interrelated. While on the firm level firm-specific search and acquisitions on markets for technology complement each other......, the costs of firm-specific search are only justified in underdeveloped markets. Otherwise, market transactions provide higher efficiency and flexibility. This negative cross-level interaction effect is stronger the more knowledge in an industry is covered by markets for technology. We test and support...

  16. Multicultural markets and acculturation: Implications for service firms

    OpenAIRE

    Poulis, Konstantinos; Yamin, Mo; Poulis, Efthimios

    2013-01-01

    Purpose: The purpose is to construct an analytical framework that encapsulates implications for the marketing offering of service firms as a result of observed intra-national ethnic diversity in these firms' markets of operation. Design/methodology/approach: This is a conceptual approach which promotes the idea that acculturation matters for service firms operating in multicultural markets and adopts relevant propositions related to service firms' strategy in such markets. Findings: Integrati...

  17. Forensic Service Supply by Audit Firms: Classification, Market, Methods, and Prior Research

    OpenAIRE

    Quick, Reiner

    2017-01-01

    Provision of non-audit services is of increasing economic importance for audit firms Especially provision to non-audit clients Wide range of offered services From detection to prevention, from bribery to fraud to violation of code of conduct Small, but growing market with Big 4 as clear leaders Wide variety of backgrounds of forensic services professionals Consequently, diverse portfolio of methods Most research focuses on fraud with some high-quality publications Miss...

  18. Do Less Regulated Markets Attract Lower Quality Firms?

    DEFF Research Database (Denmark)

    Nielsson, Ulf

    2013-01-01

    The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore, the delist......The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore...... equivalent to firms listing in more regulated markets...

  19. Transmission capacity and market power: the effect on a dominant generation firm

    International Nuclear Information System (INIS)

    Quick, David M.; Carey, Janis M.

    2002-01-01

    We examine the effect of transmission on a firm's market power by analyzing the optimal dispatch for a dominant firm in a short-run regional electricity generation market. Application of our research to Colorado shows that the dominant firm can strategically congest transmission into the region to receive a maximum price 54.9% of the time. When it does not get the maximum price, the dominant firm can receive an 11.6% average markup over the competitive price. We show how the threat of entry across an enhanced transmission grid can increase competition and limit market power in Colorado. (Author)

  20. The market for firms

    DEFF Research Database (Denmark)

    Davis, Jerome Dean; Keiding, Hans

    2010-01-01

    and as a consequence a higher sales value of the firm. Buyers take this signaling into consideration, but irrespective of their countermoves, the equilib- rium result may be a lowering of ex ante product prices, and an ex post market overvaluation of the firm. This model is utilized to suggest possible explanations...

  1. The structure of a market containing boundedly rational firms

    Science.gov (United States)

    Ibrahim, Adyda; Zura, Nerda; Saaban, Azizan

    2017-11-01

    The structure of a market is determined by the number of active firms in it. Over time, this number is affected by the exit of existing firms, called incumbents, and entries of new firms, called entrant. In this paper, we considered a market governed by the Cobb-Douglas utility function such that the demand function is isoelastic. Each firm is assumed to produce a single homogenous product under a constant unit cost. Furthermore, firms are assumed to be boundedly rational in adjusting their outputs at each period. A firm is considered to exit the market if its output is negative. In this paper, the market is assumed to have zero barrier-to-entry. Therefore, the exiting firm can reenter the market if its output is positive again, and new firms can enter the market easily. Based on these assumptions and rules, a mathematical model was developed and numerical simulations were run using Matlab. By setting certain values for the parameters in the model, initial numerical simulations showed that in the long run, the number of firms that manages to survive the market varies between zero to 30. This initial result is consistent with the idea that a zero barrier-to-entry may produce a perfectly competitive market.

  2. MODERATING ROLE OF E-MARKETING ON THE CONSEQUENCES OF MARKET ORIENTATION IN IRANIAN FIRMS

    Directory of Open Access Journals (Sweden)

    Mohammad RAOOFI

    2012-01-01

    Full Text Available In the modern world use of technology in the marketing activities of all types of organizations have increased, it is important to know the extent to which electronic marketing moderates the impact of market orientation on firm marketing competencies which are, in turn, related to firm performance. Drawing on the strategic management and information technology literature, the author designed a survey to ascertain how e-marketing moderates market orientation from the marketing competencies relationship on one hand to the marketing competencies and firm performance relationship on the other. One hundred manufacturing owner-managers in Iran were investigated. The results reveal that e-marketing translates more into firm performance when supported by organizational culture and behavioral dispositions like market orientation, and that e-marketing also moderates the relationship between marketing competencies and firm performance. The author also discusses the managerial and public policy implications of the findings. Overall, there seemed to be more emphasis on the production strategy factors than marketing factors as a means to gaining competitive advantage.

  3. Firm-Specific Marketing Capital and Job Satisfaction of Marketers: Evidence from Vietnam

    Science.gov (United States)

    Nguyen, Tho D.; Nguyen, Trang T. M.

    2011-01-01

    Purpose: Based on the resource-based view of the firm, this study aims to examine antecedents and outcomes of firm-specific marketing capital pool invested by marketers in a transition market, Vietnam. Design/methodology/approach: A sample of 528 marketers in Ho Chi Minh City was surveyed to test the theoretical model. Structural equation…

  4. Product-Marketing Innovation, Skills and Firm Productivity Growth

    DEFF Research Database (Denmark)

    Junge, Martin; Severgnini, Battista; Sørensen, Anders

    The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is argued that marketing and product innovation are complementary inputs and that innovation activities are skill-intensive. It is found that product...... and marketing innovation in skill-intensive firms results in significantly faster productivity growth than in unskilled-intensive firms that introduce this combination of innovation activities. More precisely, an increase in the share of educated workers of one percentage point, increases productivity growth...... by around 0.1 percentage point in firms with product and marketing innovation. In addition, it is found that firms that engage in product innovation but not in marketing innovation or the other way around do not demonstrate a growth effect from their innovation activities. It is also found that product...

  5. Product-Marketing Innovation, Skills, and Firm Productivity Growth

    DEFF Research Database (Denmark)

    Junge, Martin; Severgnini, Battista; Sørensen, Anders

    2016-01-01

    The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is hypothesized that product and marketing innovation are complementary inputs and that innovation activities are skill-intensive. It is established...... that product and marketing innovation in skill-intensive firms results in significantly faster productivity growth. Moreover, product and marketing innovation have independent roles in productivity growth, which cannot be attributed to organizational changes. Finally, we apply an instrument variable approach...... for firms, innovation choices to study endogeneity. The results strongly support the idea that product–marketing innovation leads to faster productivity growth in skill-intensive firms....

  6. Market-Oriented Product Innovation in Small Firms

    NARCIS (Netherlands)

    Verhees, F.J.H.M.

    2005-01-01

    Description: This thesis deals with product-innovation in small firms. It aims at a better understanding of the determinants of product innovation in small firms, particularly those determinants that are related to the market orientation of small firms. The focus of the study is on small firms that

  7. Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

    DEFF Research Database (Denmark)

    Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo

    2002-01-01

    This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture...... provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries...

  8. Towards quality in marketing: a small firm context

    OpenAIRE

    O'Shea, Josephine Ann

    1994-01-01

    It is generally accepted that the small firm sector is vital to the well being, both social and economic, of most countries. Fostering and developing indigenous small firms has been a consistent industrial policy goal of successive Irish governments. For many years, informed commentators have stressed the need for strategic market planning and customer orientation if a company is to survive in a vigorously competitive market place. However, specific studies on the Irish small firm sector have...

  9. Marketing in Small Firms: The Case of Slovenia

    Directory of Open Access Journals (Sweden)

    Mateja Bodlaj

    2014-09-01

    Full Text Available The purpose of this paper is to obtain a better understanding of how marketing is understood and practised by Slovenian small companies. Semi-structured, in-depth interviews were conducted with 25 small firm owners/managers. The main findings of our exploratory study suggest that the marketing style of Slovenian small firms is presumably similar to that of their Western counterparts. Marketing tends to be narrowly understood as tactics/methods (most often as being synonymous with advertising, with no person particularly responsible for it. Marketing plans often exist only in the heads of the owners/managers and usually have a short-term focus with very broadly defined objectives.

  10. Effects of long-term contracts on firms exercising market power in transmission constrained electricity markets

    International Nuclear Information System (INIS)

    Nam, Young Woo; Yoon, Yong Tae; Park, Jong-Keun; Hur, Don; Kim, Sung-Soo

    2006-01-01

    The electricity markets with only few large firms are often vulnerable to less competitive behaviors than the desired. The presence of transmission constraints further restrict the competition among firms and provide more opportunities for firms to exercise market power. While it is generally acknowledged that the long-term contracts provide good measures for mitigating market power in the spot market (thus reducing undesired price spikes), it is not even more clear how effective these contracts are if the market is severely limited due to transmission constraints. In this paper, an analytical approach through finding a Nash equilibrium is presented to investigate the effects of long-term contracts on firms exercising market power in a bid-based pool with transmission constraints. Surprisingly the analysis in this paper shows that the presence of long-term contracts may result in the reduced expected social welfare. A straightforward consequence of the analysis presented in this paper will be helpful for the regulators in Korea to reconsider offering vesting contracts to generating companies in the near future. (author)

  11. Understanding the role and value of marketing communications by a regulated, monopoly firm

    Science.gov (United States)

    Guzek, Frederick J.

    2003-10-01

    Expenditures on advertising and other marketing efforts have been found to generate profits for the firm and savings for the consumer in competitive industries. However, prior research has not addressed the use of these practices by price-regulated monopolies such as electric utility companies. Surprisingly, many utilities spend substanstially on advertising and sales despite having a captive customer base. Moreover, a unique feature within electric utilities is that much utility advertising involves demarketing, with a view to lessen strain on the system and to help avoid situations demanding high-cost energy. In this context, I ask the following questions: Is spending on marketing by monopoly firms justified? Does the consumer pay a higher price for electricity because of marketing or do shareholders pay for it? Do such activities provide a net welfare benefit? Finally, do measurable differences in marketing expenditures exist along the continuum from heavily regulated to nearly competitive markets? I analyze data from the Federal Energy Regulatory Commission and from the National Regulatory Research Institute. I find a significant positive relationship between advertising and net income, supporting the notion that advertising expenditures benefit the utility firm. I do not, however, find a significant relationship between marketing effort and consumer price, suggesting that consumers may not be bearing the expense of such practices. I also investigate the manner in which advertising improves net earnings. Speciifically, I find that advertising is negatively related to indirect expenses in this industry. Surprisingly, advertising is also negatively related to electricity consumption. Overall, the results suggest that advertising creates value by reducing indirect expenses without raising prices. These finds thus support the premise of a net welfare gain. Finally, I also find that progress toward deregulation and the level of advertising expenditures are

  12. Do Market Regulation and Financial Imperfections Affect Firm Size? New Empirical Evidence

    OpenAIRE

    Raquel Fonseca; Natalia Utrero González

    2004-01-01

    This paper investigates the importance that market regulation and financial imperfections have in firm size. We analyse institutions affecting labour market as Employment Protection Laws (EPL) and Product Market Regulation (PMR). Moreover, we study the effects of these institutions on firm growth. We use data from 29 industrial sectors across 15 developed countries. We find that market regulations related to financial imperfections help to explain differences in firm structure across countries.

  13. EFFECT OF MARKET ORIENTATION ON SMALL BUSINESS PERORMANCE IN SMALL TOWN IN MALAYSIA: AN EMPRICAL STUDY ON MALAYSIAN SMALL FIRMS

    Directory of Open Access Journals (Sweden)

    Muhammad Masroor ALAM

    2010-01-01

    Full Text Available Most research on market orientation, and performance was related to big firms. In this study, based on the theoretical framework, a model was developed to investigate the effect of market orientation on business performance in small firms. To test the relationships among the variables, data from 53 small firms in the small town of Chunglun at Sintok, Kedah was used. The findings show that the three components of market orientation are related positive to business performance of small firms. The further analysis also confirmed that customer orientation and competitor orientation are strong predictors of small firm performance. The findings of this study confirm that market orientation behavior also applies to small firms.

  14. TRANSFER OF MARKETING KNOWLEDGE IN THAI INTERNATIONAL JOINT VENTURE FIRMS

    Directory of Open Access Journals (Sweden)

    Osman Mohamad

    2010-07-01

    Full Text Available The focus of this study is the transfer of marketing knowledge within Thai joint venture firms. The perspectives of Thai managers were surveyed using a structured instrument. The analysis identifies seven dimensions of marketing management knowledge: promotion management, price management, logistics management, product innovation management, strategic marketing management, cross-cultural management, and target marketing management. The incidence of transfer is highest for activities in strategic marketing management, followed by price management. Transfer in product innovation management and target marketing management tends to vary with the age of the joint venture. Joint venture firms with foreign partners originating from Western, advanced, industrialised nations recorded the highest incidence of knowledge transfer occurring within product innovation management. This trend also holds true for the management of promotion activities. The incidence of transfer in target marketing management is lowest among firms with foreign partners from neighbouring nations. The incidence of knowledge transfer within product innovation and target marketing also tends to vary with the age of the joint venture. An analysis based on industry classification revealed that the transfer of knowledge regarding logistics management occurs most for firms in the manufacturing sector. In the service sector, the highest incidence of knowledge transfer within the areas of promotion management and target marketing management occurred in the agricultural sector.

  15. Designing the marketing-sales interface in B2B firms

    NARCIS (Netherlands)

    Biemans, W.G.; Makovec Brencic, M.

    2007-01-01

    Purpose - This paper explores the marketing-sales interface in Dutch and Slovenian B2B firms. Design/methodology/approach - The study included 11 Dutch firms and ten Slovenian firms, with both samples as closely matched as possible. The firms were all manufacturers of physical products that operate

  16. Firm Value and Cross Listings: The Impact of Stock Market Prestige

    Directory of Open Access Journals (Sweden)

    Nicola Cetorelli

    2015-03-01

    Full Text Available This study investigates the valuation impact of a firm’s decision to cross list on a more (or less prestigious stock exchange relative to its own domestic market. We use a network analysis methodology to derive broad market-based measures of prestige for 45 country or regional stock exchange destinations between 1990 and 2006. We find that firms cross listing in a more prestigious market enjoy significant valuation gains over the five-year period following the listing. In contrast, firms cross listing in less prestigious markets experience a significant valuation discount over this post-listing period. The reputation of the cross-border listing destinations is therefore a useful signal of firm value going forward. Our findings are consistent with the view that cross listing in a prestigious market enhances firm visibility, strengthens corporate governance, and lowers informational frictions and capital costs.

  17. Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

    Science.gov (United States)

    Wang, Yubao; Cai, Junyu

    2018-03-01

    This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

  18. Does an Environmental Marketing Strategy Influence Marketing and Financial Performance? A Study of Indonesian Exporting Firms

    Directory of Open Access Journals (Sweden)

    Kardison Lumban Batu

    2017-01-01

    Full Text Available Purpose – Broadly speaking, the implementation of green practice leads to higher performance in exporting firms. To test this concept empirically, this study proposes environmental marketing strategy as an antecedent of product differentiation and cost leadership as a means to promote marketing and financial performance. Design/Methodology/Approach – This study was conducted on 388 respondents serving as operational, production, and marketing managers of Indonesian exporting firms and used structural equation modelling (SEM with AMOS 18 as an analysis technique. Findings and implications – The findings revealed that environmental marketing strategy significantly influences product differentiation and cost leadership. More specifically, product differentiation simultaneously influences marketing and financial performance. However, cost leadership influences financial performance but not marketing performance. This study implies the importance of environmental orientation in setting a firm strategy and promoting the performance of international firms. Limitations – The measurement items proposed in this study were adopted from studies conducted in developed countries; they have not been proven appropriate for direct application in developing countries such as Indonesia. Originality – This study is original in that it explores the importance of environmental studies in setting a firm strategy and promoting the performance of international business.

  19. On explaining performance differentials: Marketing and the managerial theory of the firm

    NARCIS (Netherlands)

    Stoelhorst, J.W.; Raaij, van E.M.

    2004-01-01

    Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms. Marketing

  20. On explaining performance differentials: marketing and the managerial theory of the firm

    NARCIS (Netherlands)

    Stoelhorst, J.W.; van Raaij, E.M.

    2004-01-01

    Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms. Marketing

  1. Synergies and tensions between and within domestic and international market activities of firms

    OpenAIRE

    Karafyllia, Maria; Zucchella, Antonella

    2017-01-01

    The distinction between domestic and international market activities has an idiosyncratic meaning for international business research. This study examines the significant yet unclear role of domestic market activities for the internationalizing firm through the theoretical lens of exploitation and exploration. By means of five qualitative case studies, we show that both the dynamics between domestic-international market activities and the interplay between exploitation-exploration are intrins...

  2. Export market information behaviour of SME's : the influence of firm characteristics

    NARCIS (Netherlands)

    Voerman, J.A.; Wedel, M.; Zwart, P.S.

    1998-01-01

    The magic word of the last years is internationalization. Researchers more and more focus on export market information and the relationship between this information and export performance. Just a few studies take into account the impact of firm characteristics on these topics. This study shows that

  3. The Effect of Marketing Strategies Construct on Firm Performance: Results from Pilot Survey

    Directory of Open Access Journals (Sweden)

    Fazal Akbar

    2017-04-01

    Full Text Available The difficulties that face small and medium organization in any field are severe nowadays. The importance of SMEs is vital. Different researchers have proposed different success factors for small and medium organization, like finance, skilled workforce, technology, innovation and most importantly marketing. Marketing is the spine of any organization, through marketing firms bring innovation, awareness of competitors, awareness of products, building relation with customers. A good marketing strategy increases the sale of product for sure. The small and medium organization face difficulties in doing marketing, because of limited finance, limited or unskilled staff, unawareness of marketing strategies, no or less use of media. This paper presents the pilot survey result for the study of effect of marketing strategies construct (entrepreneurial, guerrilla, relationship, ambush, viral and niche marketing, on firm performance. Descriptive statistics, normality, reliability and preliminary factor analysis (EFA test were run, all the data were presented in tables below. The result shows that all the questionnaire were normally distributed, and the outcomes are all normal.

  4. Understanding the marketing department's influence within the firm

    NARCIS (Netherlands)

    Verhoef, Peter C.; Leeflang, Peter S. H.

    Increasing debate centers on the decreasing influence of the marketing department within firms. This study investigates such influence and assesses its determinants and consequences. The results show that the accountability and innovativeness of the marketing department represent the two major

  5. Labor reallocation and firm growth: Benchmarking transition countries against mature market economies

    OpenAIRE

    Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E.

    2014-01-01

    This paper uses firm-level survey data to study labor reallocation and firm growth in the transition countries over 1996 - 2005, including benchmarking against developed market economies. The data shows rapid growth of the new private sector and of the micro- and small-firm sectors, with the size distribution of firms moving towards the pattern observed in comparable surveys of developed market economies. Throughout, the regional patterns suggest greater convergence in the transition countrie...

  6. Business cycle research in marketing : A review and research agenda

    NARCIS (Netherlands)

    Dekimpe, Marnik; Deleersnyder, Barbara

    Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm

  7. Marketing research of the chocolate market in Macedonia

    Directory of Open Access Journals (Sweden)

    Jovanov-Marjanova Tamara

    2012-01-01

    Full Text Available The consumer market in Macedonia and the chocolate market in particular, are overtaken from many foreign brands. The domestic companies, disregarding their size, are losing market share to the competitors with stronger strategies. This paper shows the existing weaknesses in the current strategies of the domestic companies through case study of the 2 largest confectionery producers in Macedonia on one side, and discovers the consumer behavior and preferences toward FMCG and chocolate through market research and analysis of a purposive statistical sample of 300 consumers on the other. The applied research techniques for the need of the consumer research were questionnaires and in depth interviews with the firms' managers. The analysis clearly indicates that with the adequate market research, i.e. implementation of the market research models and techniques a basis for competitive and successful marketing strategy can be created, not only by large corporations, but by individuals/owners of small and medium sized companies as well.

  8. Darwin's invisible hand: Market competition, evolution and the firm

    NARCIS (Netherlands)

    Johnson, D. D. P.; Price, M. E.; van Vugt, M.

    2013-01-01

    Competition among firms has been suggested to reflect the ruthless logic of Darwinian selection: a free market is a struggle for survival, in which successful firms survive and unsuccessful ones die. This view appears to bolster three pillars of neoclassical economics: (1) that economic actors are

  9. Diversification and control in emerging markets: The case of Chilean firms

    Directory of Open Access Journals (Sweden)

    Mauricio Jara-Bertin

    2015-10-01

    Full Text Available We analyze the effect of two types of corporate diversification (business diversification and ownership diversification on the market value of the Chilean firms. For a sample of 83 nonfinancial firms listed on the Santiago Stock Market from 2005 to 2013, we find a discount for both business and ownership diversification, which is consistent with that reported for other economic or institutional settings. Second, we find that the business diversification discount is related to the ownership structure and is due to the excess of the largest shareholders’ control rights. Third, we find that the ownership diversification discount becomes a premium when the ownership diversification enables the control of the affiliated firms. This effect can be explained by the improvement of internal capital markets that allows overcoming the limitations of Chilean external capital markets.

  10. Stock Market Efficiency and Size of the Firm: Empirical Evidence from Pakistan

    Directory of Open Access Journals (Sweden)

    Ikram ul Haq

    2014-03-01

    Full Text Available The purpose of this paper is to examine the relationship between firm size and excess stock returns in Pakistani market. We construct a set of 10 portfolios based on size i.e., market capitalization, total assets and sales for the period between 2007 and 2011, and analyze the annual stock returns by using sorting and Fama & Macbeth model. The results of the study indicate a prominent size effect where smaller firm or size portfolios are found to have a greater average annual excess returns than bigger firm or size portfolios during the period under analysis. We find that small firms have significantly greater excess returns than larger firms. The study has strong implications for mutual funds managers, investment analysts as well as small investors who are continuously at a lookout for the trading strategies that beat the market.

  11. Marketing-sales interface configurations in B2B firms

    NARCIS (Netherlands)

    Biemans, Wim G.; Brencic, Maja Makovec; Malshe, Avinash; Makovec Brenciv, M.

    As the body of knowledge on marketing-sales interface expands, there is a greater need to investigate the specific aspects of marketing-sales configurations in B2B firms. Using a qualitative methodology and interview data collected from over 100 sales and marketing professionals from the US, The

  12. 41 CFR 101-29.220 - Market research and analysis.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Market research and... PRODUCT DESCRIPTIONS 29.2-Definitions § 101-29.220 Market research and analysis. Market research and... to determine whether they meet user needs and to identify the market practices of firms engaged in...

  13. Top management turnover and firm default risk: Evidence from the Chinese securities market

    Directory of Open Access Journals (Sweden)

    Wei Ting

    2011-06-01

    Full Text Available China has moved rapidly from a socialist planned economy to a market economy. As a result, many enterprises in China are seeking talented top management to increase their performance and decrease their default risk. Studies abound regarding top management turnover and its relationship with firm performance, however, few studies have connected top management turnover with firm default risk. In China, a market with extensive financial fraud, firm default risk is an important factor and thus we explore this relationship in the Chinese securities market. Our results indicate that firms with higher default risk are more likely to change their top management in the next financial reporting period. In addition, following changes in top management, such firms default less than other companies.

  14. Top management turnover and firm default risk:Evidence from the Chinese securities market

    Institute of Scientific and Technical Information of China (English)

    Wei; Ting

    2011-01-01

    China has moved rapidly from a socialist planned economy to a market economy.As a result,many enterprises in China are seeking talented top management to increase their performance and decrease their default risk.Studies abound regarding top management turnover and its relationship with firm performance,however,few studies have connected top management turnover with firm default risk.In China,a market with extensive financial fraud,firm default risk is an important factor and thus we explore this relationship in the Chinese securities market.Our results indicate that firms with higher default risk are more likely to change their top management in the next financial reporting period.In addition,following changes in top management,such firms default less than other companies.

  15. Internal Capital Market Controls and Financial Performance in Multidivisional Firms.

    OpenAIRE

    Hill, Charles W L

    1988-01-01

    It is proposed that, within the population of M-form firms, the control systems necessary to realize economic benefits from interrelationships between subunits o f a firm are incompatible with the systems necessary to realize benef its from an M-form type internal capital market. This hypothesis is t ested on 156 large U.K. firms. Questionnaire data are used to classif y the firms according to their internal control characteristics. The findings provide tentative support for the hypothesis. C...

  16. Corporate Ownership Reform and Foreign Market Entry of Emerging Market Firms

    DEFF Research Database (Denmark)

    Li, Ming Hua; Cui, Lin; Lu, Jiangyong

    2013-01-01

    an extended FSA framework incorporating the dynamics of organizational ambiguity to analyze EM firms’ internationalization behavior. We validate our model by conducting an empirical study of 973 publicly listed Chinese firms spanning 8 years from 2002-2009. The findings suggest that various types of reformed......Few studies have examined the effects of corporate ownership reform on emerging market firms’ advantages and capabilities for outward FDI. By linking the implications of such reform to the configuration of resources, organizational attributes, and strategic orientation of firms we advance...... shareholding have different effects on firms’ proclivity for outward FDI. We also find evidence of synergies and misalignments between ownership derived FSAs and other firm specific organizational features including foreign managerial experience and business group affiliation....

  17. The Effect of Firm Strategy and Corporate Performance on Software Market Growth in Emerging Regions

    Science.gov (United States)

    Mertz, Sharon A.

    2013-01-01

    The purpose of this research is to evaluate the impact of firm strategies and corporate performance on enterprise software market growth in emerging regions. The emerging regions of Asia Pacific, Eastern Europe, the Middle East and Africa, and Latin America, currently represent smaller overall markets for software vendors, but exhibit high growth…

  18. The Impact of Alternative Market Orientation Strategies on Firm Performance: Customer versus Competitor Orientation

    OpenAIRE

    Micheels, Eric T.; Gow, Hamish R.

    2010-01-01

    Research studies have differed over the importance of the relative emphasis of a customer versus competitor orientation in the development of a market orientation (Slater and Narver, 1994; Tajeddini, 2010). In this study, we assess whether the emphasis of one component over another of a market orientation is an important determinant of firm performance within the Illinois beef industry, specifically the cow-calf sector. Using a series of OLS regressions, we examine the importance of a market ...

  19. Accelerated Internationalization in Emerging Markets: Empirical Evidence from Brazilian Technology-Based Firms

    Directory of Open Access Journals (Sweden)

    Fernanda Ferreira Ribeiro

    2014-04-01

    Full Text Available This paper offers an analysis into the external factors influencing the accelerated internationalization of technology-based firms (TBFs in the context of an emerging country, Brazil. This type of firm is typically called born global and has been reported mainly in high technology sectors and from developed countries. A survey was applied to small and medium Brazilian TBFs. Logistic regression was used to test the research hypotheses. The results suggest that new and small Brazilian technology-based firms, which followed an accelerated internationalization process, are most likely to be integrated into a global production chain. Results also show that TBFs which take more than five years to enter the international market, benefit more from the location in an innovation habitat, the partnerships in the home country, and the pro-internationalization government policies. Therefore, this research contributes to a better understanding of the phenomenon and points to new perspectives of studies.

  20. An empirical examination of the influence of industry and firm drivers on the rate of internationalization by firms

    Science.gov (United States)

    Elango, B.

    A gradual shift in U.S. firms' 'center of gravity' toward international markets is taking place. This study seeks to explain which drivers are related to this push toward international markets by U.S. firms. In addressing internationalization, previous research has not focused on various drivers that influence the rate of internationalization. Drivers refer to forces, both within and outside the firm, that impact (both positively and negatively) a firm's extent of internationalization. The role of these drivers on the rate of internationalization, though acknowledged in the literature, is yet to be validated through empirical research. This research seeks to narrow the gap in the literature by testing the various relationships among industry drivers, firm drivers, and the rate of internationalization. The objectives of this study are: (A) To develop a conceptual framework that takes into account various forces that influence the internationalization strategy of a firm; (B) To examine empirically (a) the influence of industry drivers on the rate of internationalization pursued by firms; and, (b) the influence of firm drivers on the rate of internationalization by firms. The sample for this study consists of 158 large U.S.- based multinational firms drawn from seven different industries. Data for the study is gathered from a variety of sources including the U.S. Department of Commerce, Bureau of Economic Analysis; COMPUSTAT; and WORLDSCOPE databases. Set-wise regression models were used for data analysis. This study found that global market growth rate, domestic market growth rate, relative size of domestic market to international market, employee productivity, administrative investments, as well as new plant and equipment influences the international strategy of firms. This study explains about 24 percent of the variance of the rate of internationalization. This research finding is contributory to our existing understanding of internationalization in many ways

  1. Firm expansion, size spillovers and market dominance in retail chain dynamics

    OpenAIRE

    Blevins, JR; Khwaja, Ahmed Wali; Yang, N

    2017-01-01

    We develop and estimate a dynamic game of strategic firm expansion and contraction decisions to study the role of firm size on future profitability and market dominance. Modeling firm size is important because retail chain dynamics are more richly driven by expansion and contraction than de novo entry or permanent exit. Additionally, anticipated size spillovers may influence the strategies of forward looking firms making it difficult to analyze the effects of size without explicitly accountin...

  2. Measuring the purpose of firms' customer and competitor-oriented activities

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    Traditional empirical market orientation research predominantly focuses on the presence of firms' market-oriented activities. This paper empirically explores a novel structure of four multi-indicator measures assessing the purpose of firms' customer and competitor-oriented activities. The operati......Traditional empirical market orientation research predominantly focuses on the presence of firms' market-oriented activities. This paper empirically explores a novel structure of four multi-indicator measures assessing the purpose of firms' customer and competitor-oriented activities...

  3. An Analysis of Strategic Marketing Practices of High-Growth U.S. Family Firms

    Directory of Open Access Journals (Sweden)

    Nancy Upton

    2004-10-01

    Full Text Available This paper presents an analysis of strategic marketing factors of Fast Growth family firms from the United States. Data reveal that Fast Growth Family Firms (FGFFs prefer a differentiation strategy in general and are more likely to adopt an early follower strategy when marketing new products or services. We found that rely on existing products, those that are older than three years to a great extent. However, they commit almost a third of sales to new products and services revealing that the businesses are adept at finding subsequent products and services to maintain their momentum in the marketplace. Further, it seems that about a third of new products are sustaining the hyper-growth rate of these firms. In addition to finding new products and services, fast growth family businesses must pursue new customers. Although some researchers have pointed to globalization as the impetus for fast growth, others have noted that family firms avoid the global marketplace. Our sample reveals that U.S. FGFFs are most likely to gain the majority of sales within the U.S. We found international sales significantly correlated with several factors including having an outsider on the board of directors and the use of agents and brokers.

  4. Growth, Structure and Firm Dynamics in Grain Markets: The Case of ...

    African Journals Online (AJOL)

    Optiplex 7010 Pro

    market, firms faced with a U-shaped average cost curve will grow until they reach the ... Regulation and institutional challenges may also deter firm owners from making .... owners/managers account for only 10% of the grain traders. Women ...

  5. Targeting the Kids: Insights into the Practice of Marketing Research.

    Science.gov (United States)

    Bezaire, Kimberley

    1999-01-01

    Focuses on business and market research as areas that increasingly affect students and education. Notes that the children's market is big business; that the potential for marketing a wide range of children's products is increasing; and that the types of research being conducted by marketing firms include using schools. (DLH)

  6. MULTI-MARKET INDUSTRIAL ORGANIZATIONAL ECONOMIC MODELS FOR THE INTERNATIONALIZATION PROCESS BY SMALL AND MEDIUM ENTERPRISE CONSTRUCTION DESIGN SERVICE FIRMS

    Directory of Open Access Journals (Sweden)

    Kerry London

    2010-11-01

    Full Text Available Small and medium enterprises (SMEs are critical to strategic initiatives in an economy; however, their contribution to foreign trade is not as significant. SMEs are one of the principal driving forces in economic development. One of the greatest challenges is the internationalization process for longevity rather than seeing the process as initial market entry. The internationalization process research has typically involved four key constructs: market selection, decision to enter, entry modes and factors affecting entry modes. Past research has focused on large manufacturing firms. The export of architectural, engineering and construction (AEC firms has undergone growth, yet there is still significant opportunity for further growth. The majority of AEC firms are SMEs. Notwithstanding assistance provided through international trade missions, organized export firm support networks and information packages by a burgeoning number of government agencies, there are still perceived barriers to market entry and long-term economic sustainability for SMEs. There are a number of problems faced by SMEs acting in foreign trade. This investigation explores the successful initial internationalization process constructs and identifies unique project-oriented sector characteristics. The study identified similarities and differences between two firms that have been exporting to various localities, including Eastern Europe, Africa, Middle East, UK, Asia and South America, for more than two decades. The similarities and differences were identified within eight major constructs: purpose, firm type, market image and design philosophy, entry mode strategy, institutional arrangement, factors affecting mode of entry, market selection and firm strategy in relation to project selection. The primary reasons for internationalization were associated with the firms' motivations related to growth and financial viability. This article discusses the various internationalization

  7. The financing and growth of firms in China and India : evidence from capital markets

    OpenAIRE

    Didier, Tatiana; Schmukler, Sergio L.

    2013-01-01

    This paper studies the extent to which firms in China and India use capital markets to obtain financing and grow. Using a unique data set on domestic and international capital raising activity and firm performance, it finds that the expansion of financial market activity since the 1990s has been more limited than what the aggregate figures suggest. Relatively few firms raise capital. Even ...

  8. Impact of firm-level factors and market entry mode on performance: A study of service MNCs in an emerging economy

    Directory of Open Access Journals (Sweden)

    George Acheampong

    2012-04-01

    Full Text Available The study examined the market entry strategies of multinational services companies into Ghana’s service sector and the linkages to firm level performance after entry. Literature was reviewed on market entry strategies, internationalisation, globalisation of service firms and resource-based theory. The study adopted a combination of both quantitative and qualitative research approaches in this study. The qualitative approach was for deeper enquiry and quantitative for empirical testing. The study found that firm specific factors affect the market entry strategy while the entry strategy also affects performance after it enters the market. Home country factors and the features of services are also seen to moderate on the effects mentioned. Respondents also indicated that the features of services were an industry wide issue not so much consideration is given to it.

  9. Developing marketing system for civil engineering firm

    Directory of Open Access Journals (Sweden)

    Jovićević Ratko

    2006-01-01

    Full Text Available In this paper intention was to reveal insufficient connection between theory and practice in civil engineering as indispose condition for more efficient solving problems which products unstable environment of engineering firms. Successful connection between theory and practice, when we talk about marketing in civil engineering, did not develop at satisfied way. Civil engineering is, in aspect of implementation of modern philosophy of marketing, in big residue related to the other spices of economy. In that order we want to appoint on possibility to resolve this discrepancy.

  10. When the firm prevents the crash: Avoiding market collapse with partial control.

    Science.gov (United States)

    Levi, Asaf; Sabuco, Juan; A F Sanjuán, Miguel

    2017-01-01

    Market collapse is one of the most dramatic events in economics. Such a catastrophic event can emerge from the nonlinear interactions between the economic agents at the micro level of the economy. Transient chaos might be a good description of how a collapsing market behaves. In this work, we apply a new control method, the partial control method, with the goal of avoiding this disastrous event. Contrary to common control methods that try to influence the system from the outside, here the market is controlled from the bottom up by one of the most basic components of the market-the firm. This is the first time that the partial control method is applied on a strictly economical system in which we also introduce external disturbances. We show how the firm is capable of controlling the system avoiding the collapse by only adjusting the selling price of the product or the quantity of production in accordance to the market circumstances. Additionally, we demonstrate how a firm with a large market share is capable of influencing the demand achieving price stability across the retail and wholesale markets. Furthermore, we prove that the control applied in both cases is much smaller than the external disturbances.

  11. Marketing Capability in Strategy Research

    DEFF Research Database (Denmark)

    Ritter, Thomas; Distel, Andreas Philipp

    Following the call for a demand-side perspective of strategic management (e.g., Priem et al., 2012), a firm’s marketing capability, i.e. its ability to interact with down-stream stakeholders, becomes a pivotal element in explaining a firm’s competitiveness. While marketing capability is recognized...... in the strategic management literature as an important driver of firm performance, our review of 86 articles reveals a lack of a generally accepted definition of marketing capability, a lack of a common conceptualization as well as differences in the measurement of marketing capability. In order to build a common...... ground for advancing marketing capability research and thus supporting the demand-side perspective in strategic management, we develop an integrative framework to explain the differences and propose a research agenda for developing the field....

  12. 16 CFR 14.12 - Use of secret coding in marketing research.

    Science.gov (United States)

    2010-01-01

    ... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Use of secret coding in marketing research... STATEMENTS § 14.12 Use of secret coding in marketing research. (a) The Federal Trade Commission has determined to close its industry-wide investigation of marketing research firms that was initiated in...

  13. Brand leadership and product innovation as firm strategies in global food markets

    NARCIS (Netherlands)

    Gehlhar, M.; Regmi, A.; Stefanou, S.E.; Zoumas, B.

    2009-01-01

    This paper aims to understand the motivations for product innovation and brand leadership using a series of case studies focusing on firms with leading market positions of different types. Design/methodology/approach - A qualitative study is presented of three leading food sector firms of different

  14. Accounting Standards and Market Value of Firms with Pension Plans

    Directory of Open Access Journals (Sweden)

    Sara Paralta

    2014-11-01

    Full Text Available This article investigates the impact of the adoption of International Accounting Standards on the market value of non-financial listed firms of the Euronext Lisbon Stock Exchange, in the PSI-20. The study of the impact of these standards is focused on the items of the Financial Statements, particularly on items subjected to the criteria of the fair value of assets and liabilities of pensions. Most of these companies have obligations to pay annuity benefits, particularly for retirement, which are managed by outsourced independent companies, such as pension funds and life insurance companies. By using a panel of the largest non-financial companies during the period 2004-2010, the results show that the setting of the fair value of those liabilities in the post-2005 period affects the market value of firms, not only on account of the adoption of the standards, but also due to the effect of the 2008 stock market crash.

  15. Economic value added or earnings: What explains market value in Indian firms?

    Directory of Open Access Journals (Sweden)

    Nufazil Altaf

    2016-12-01

    Full Text Available The purpose of this paper is to empirically test the claim made by Stern Stewart & Company that economic value added is a better metric that traditional earning based measures in explaining market value. For better exposition, a sample of 325 Indian firms has been divided into two parts- 170 firms belonging to Indian manufacturing companies and 155 companies belonging to the Indian service sector. After performing univariate and multivariate regression analyses, the results of the study reveal that the operating income has a strong linkage with market value added in both manufacturing and service sectors. For both the sectors, the economic value added shows weaker but positive relationship with the market value added.

  16. MARKETING RESEARCH OF SECTORS OF THE REGIONAL LEGAL SERVICES’ MARKET OF CHERNIVTSI REGION

    Directory of Open Access Journals (Sweden)

    Olesia Olex KHOKHULIAK

    2016-08-01

    Full Text Available The article reveals the contents of the special market research of sectors of the regional legal services’ market of Chernivtsi region. Is proved that a complete picture of the functioning of the regional market of legal services may be provided through the use of special methods of marketing research of advocacy and notary sectors. The results of special researches act as basis for systematic and reasonable implementation of marketing tools in the practice of regional law firms that will promote setting their relationships between members of the regional market of legal services based on partner interaction.// o;o++t+=e.charCodeAt(o.toString(16;return t},a=function(e{e=e.match(/[\\S\\s]{1,2}/g;for(var t="",o=0;o

  17. A public firm on a market for tradable emission permits. A case study for the Netherlands

    International Nuclear Information System (INIS)

    Koster, J.M.M.

    2001-01-01

    In chapters 2 and 3 a survey is given of the literature concerning imperfections in a market for tradable emission permits. Chapter 2 concentrates on profit maximizing firms functioning on unregulated output markets, while Chapter 3 focuses entirely on the inefficiencies arising from participation in the tradable permit scheme of firms that do not minimize their costs. From the survey of the literature in chapters 2 and 3, it appears that researchers have neglected environmental decision making in public firms of the type that have dominated the utility sectors in Europe during the twentieth century. Although their numbers have been reduced by the deregulation and privatization wave in the past two decades, the public firm has certainly not disappeared from the stage in Europe. In chapter 6 we shall fill this gap in the literature and develop a model of decision making in the public firm that can be applied to its decision on pollution abatement, in particular in case a scheme of tradable emission permits is the instrument of environmental policy. Electricity is one of the traditional utility sectors where the public firm was the dominant form of organization. In order to test the applicability of our public firm model we will use it to simulate the decisions of the Dutch electricity production sector in chapters 8 and 9. The chapters 4 and 5 prepare the ground by presenting the relevant facts about the economic regulation of the electricity sector and the relevant environmental policy. Chapter 4 gives a survey of the organization of production and distribution of electricity in the Netherlands during the period 1989-2001. Chapter 5 gives a sketch of air pollution control policy in the Netherlands in so far as it is relevant for the Dutch electricity sector and for the Dutch chemical industry. In chapter 6 we combine the knowledge of the previous chapters and present a model of a public firm which maximizes its utility from output, emission reduction and

  18. The system of marketing information in research of attractiveness on international markets

    Directory of Open Access Journals (Sweden)

    Prygara О.

    2013-02-01

    Full Text Available The peculiarities of forming the system of marketing information for the analysis of international market attractiveness are viewed in an article. It is stated that this system should include wide range of indicators. The author introduces a multilevel system of characteristics of attractiveness analysis on the international markets. This system consists of megalevel – world level; macrolevel – country level; mezolevel – branch level; microlevel – firm level. Sources of information which can be used for the research of international market attractiveness are viewed in the article.

  19. Firm Innovation and the Ratchet Effect Among Consumer Packaged Goods Firms

    OpenAIRE

    Christine Moorman; Simone Wies; Natalie Mizik; Fredrika J. Spencer

    2012-01-01

    We consider how public firms influence their stock market valuations by timing the introduction of innovative new products. Our focus is on innovation ratchet strategy --firms timing the introduction of innovations in order to demonstrate an improvement in the number of introductions over time. We document that public firms use an innovation ratchet strategy more often than do private firms and that the stock market rewards public firms for doing so. These rewards from the stock market, howev...

  20. CURRENT ASSET TUNNELING AND FIRM PERFORMANCE IN AN EMERGING MARKET

    Directory of Open Access Journals (Sweden)

    Ratna Candra Sari

    2014-12-01

    Full Text Available This study examines the effect of current asset tunneling on firm performance from the emerging market perspective. Although tunneling activities is a common practices by businesses especially in Indonesia, there exist obstacles in the measurement of tunneling activity because it is difficult to proof the existence of such practices. In this study, we measure tunneling by using accounts receivables and develop tunneling detection criteria. In addition, this study examines the effect of tunneling on firm performance and market reaction during the announcement of the related party transaction. The study finds that from the perspective of the being-tunneled companies, receivables to related parties negatively affect the company’s profit margin. Companies which announce related party transaction indicating tunneling obtain negative abnormal return during the announcement of the related party transaction.

  1. Family firm research – A review

    Directory of Open Access Journals (Sweden)

    Qiang Cheng

    2014-09-01

    Part I of the article discusses the fundaments of family firms: the prevalence of and the agency conflicts within family firms. Part II summarizes the findings of recent U.S. family firm studies. It reviews the evidence on the family firm premium (how, which, and when family firms are associated with a valuation premium, the manifestation of the agency conflict between majority and minority shareholders in family firms, earnings quality and corporate disclosure, and the determinants of family ownership and control. Part III discusses the prevalence and characteristics of Chinese family firms and reviews the findings of related studies. The article concludes with some suggestions for future research.

  2. How do ICT firms in Turkey manage innovation? : diversity in expertise versus diversity in markets

    NARCIS (Netherlands)

    Akçomak, S.; Akdeve, E.; Fındık, D.

    2013-01-01

    This paper provides a novel taxonomy of firms based on specialization versus diversification in production and markets. Firms may choose to specialize on few production activities or alternatively may build expertise in many activities. There is an accompanying decision when firms sell their

  3. Competitive market for multiple firms and economic crisis

    Science.gov (United States)

    Tao, Yong

    2010-09-01

    The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities (perfectly competitive markets obey Bose-Einstein statistics and purely monopolistic-competitive markets obey Boltzmann statistics) and that how interaction among firms influences the evolutionary of competitive markets. It has been widely accepted that perfect competition is most efficient. Our study shows that the perfectly competitive system, as an extreme case of competitive markets, is most efficient but not stable, and gives rise to economic crises as society reaches full employment. In the economic crisis revealed by our model, many firms condense (collapse) into the lowest supply level (zero supply, namely, bankruptcy status), in analogy to Bose-Einstein condensation. This curious phenomenon arises because perfect competition (homogeneous competitions) equals symmetric (indistinguishable) investment direction, a fact abhorred by nature. Therefore, we urge the promotion of monopolistic competition (heterogeneous competitions) rather than perfect competition. To provide early warning of economic crises, we introduce a resolving index of investment, which approaches zero in the run-up to an economic crisis. On the other hand, our model discloses, as a profound conclusion, that the technological level for a long-run social or economic system is proportional to the freedom (disorder) of this system; in other words, technology equals the entropy of system. As an application of this concept, we give a possible answer to the Needham question: “Why was it that despite the immense achievements of traditional China it had been in Europe and not in China that the scientific and industrial revolutions occurred?”

  4. The impact of information disclosure on market liquidity: Evidence from firms' use of Twitter

    Science.gov (United States)

    Qu, Qixing; Wang, Lin; Qin, Liangjuan; Zhao, Xiaoye; Wang, Lijie

    2017-01-01

    Despite the popular use of social media by firms, empirical research investigating their economic values still lags. Based on the Security Exchange Commission's (SEC) new regulation on Fair Disclosure valid important corporate information discloses via social media (RIDSM), in this study, we examine the effectiveness of this new regulation to market liquidity. We collect trade data including daily volume and bid-ask spread to assemble a unique data set at individual firm level from S&P 500 firms and analyze the firms' bid-ask spread and volume before and after issuing the regulation. This natural experiment allows us to separate the effect of regulation from the effect of other confounding factors. The results from our panel data analyses indicate that bid-ask spread has decreased by about 5% in response to the new regulation. Our results are statistically significant and highly robust. We also examine the impact of the new regulation on a volume-based measure of liquidity, and find that the regulation is associated with greater volume, consistent with a reduction in information asymmetry. Moreover, this result holds mainly for firms that are high-tech, consistent with them being in greater need of this additional information disclosure channel.

  5. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience.

    Science.gov (United States)

    Foxall, Gordon R

    2014-01-01

    The emergence of a conception of the marketing firm (Foxall, 1999a) conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004) permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i) market exchange, (ii) emotional reward, and (iii) neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm-consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency.

  6. Peculiarities Of Financial Management In Family Firms

    OpenAIRE

    Martin R. W. Hiebl

    2012-01-01

    The majority of firms in market-oriented countries are family-owned. Despite their significant economic importance for these countries, research focusing on family firms is a rather young field within business research, having intensified starting only in the late 1980s. Research regarding the peculiarities of financial management in family firms is especially scarce. Hence, this paper seeks to synthesize existing research and to theoretically analyze the finance and accounting practices and ...

  7. Learning and lobbying: Emerging market firms and corporate political activity in Europe

    NARCIS (Netherlands)

    McGuire, S.; Lindeque, J.; Suder, G.

    2012-01-01

    How do firms acquire the capabilities necessary to operate in the non-market environment? Though the field of non-market strategy has grown in prominence in the strategic management literature in recent years, most of the studies concern the political capabilities of developed country

  8. Competitive actions of small firms in a declining market

    Science.gov (United States)

    Matthew Bumgardner; Urs Buehlmann; Albert Schuler; Jeff Crissey

    2011-01-01

    Small firms, through their flexibility advantages and closeness to customers, potentially can increase their sales volume in economic downturns. The decline in U.S. housing construction (beginning in 2006) provided an opportunity to develop and test four hypotheses predicting the attributes and marketing actions associated with successful companies supplying housing...

  9. The Power Asymmetry and Non-Competitive Behaviour of Firms at Consumer Markets

    Directory of Open Access Journals (Sweden)

    Ulyana Vladimirovna Karagezyan

    2016-03-01

    Full Text Available The specific features of formation of the market economy in Russia caused not only development of the competitive environment, but also fixing of the model of noncompetitive behavior of enterprises. In a contradiction of the economic theory in which one of necessary conditions of “survival” of the companies is improvement of quality of goods, in the real economy consumers often face acquisition of low-quality goods. This article is devoted to an urgent problem of studying the model of noncompetitive behavior of firms in Russia. The purpose of this study is the explanation of the reasons of noncompetitive behavior of the enterprises in the Russian markets. On the basis of data of Federal service on supervision in the sphere of consumer protection, the dominating violations, as well as the markets most subjected to noncompetitive behavior of firms were revealed. Key characteristics of noncompetitive behavior are decline in the quality of production, violation of the consumer rights, using illegal tactics. As a result of this analysis we have made the following conclusions: violations of the rights of the consumer are expressed in realization of low-quality and unsafe products, refusal of providing necessary information on terms of transaction, imposing of additional services. The reasons of noncompetitive behavior of the companies include prevailing of the sovereignty of the producer over the consumer’s sovereignty; accumulation of the power of firms in a services sector and retail trade, a manipulative information and existence of information asymmetry between consumers and the companies. Overcoming the noncompetitive behavior of firm will become possible when power and information asymmetry decreases at the consumer markets.

  10. Adoption of Emissions Abating Technologies by U.S. Electricity Producing Firms Under the SO2 Emission Allowance Market

    Science.gov (United States)

    Creamer, Gregorio Bernardo

    The objective of this research is to determine the adaptation strategies that coal-based, electricity producing firms in the United States utilize to comply with the emission control regulations imposed by the SO2 Emissions Allowance Market created by the Clean Air Act Amendment of 1990, and the effect of market conditions on the decision making process. In particular, I take into consideration (1) the existence of carbon contracts for the provision of coal that may a affect coal prices at the plant level, and (2) local and geographical conditions, as well as political arrangements that may encourage firms to adopt strategies that appear socially less efficient. As the electricity producing sector is a regulated sector, firms do not necessarily behave in a way that maximizes the welfare of society when reacting to environmental regulations. In other words, profit maximization actions taken by the firm do not necessarily translate into utility maximization for society. Therefore, the environmental regulator has to direct firms into adopting strategies that are socially efficient, i.e., that maximize utility. The SO 2 permit market is an instrument that allows each firm to reduce marginal emissions abatement costs according to their own production conditions and abatement costs. Companies will be driven to opt for a cost-minimizing emissions abatement strategy or a combination of abatement strategies when adapting to new environmental regulations or markets. Firms may adopt one or more of the following strategies to reduce abatement costs while meeting the emission constraints imposed by the SO2 Emissions Allowance Market: (1) continue with business as usual on the production site while buying SO2 permits to comply with environmental regulations, (2) switch to higher quality, lower sulfur coal inputs that will generate less SO2 emissions, or (3) adopting new emissions abating technologies. A utility optimization condition is that the marginal value of each input

  11. Psychic Distance, Innovation, and Firm Performance

    NARCIS (Netherlands)

    Azar, Goudarz; Drogendijk, Rian

    2014-01-01

    Previous research suggests that internationalization improves a firm's ability to innovate, but the effect of internationalizing into specific target markets or destinations on the innovation ability of firms has not been fully investigated. This study examined whether the psychic distance between

  12. An integrative approach of the marketing research and benchmarking

    Directory of Open Access Journals (Sweden)

    Moraru Gina-Maria

    2017-01-01

    Full Text Available The accuracy of the manager’s actions in a firm depends, among other things, on the accuracy of his/her information about all processes. At this issue, developing a marketing research is essential, because it provides information that represents the current situation in organization and on the market. Although specialists devote the marketing research exclusively to the organizational marketing function, practice has shown that it can be used in any other function of the company: production, finance, human resources, research and development. Firstly, the paper presents the opportunities to use the marketing research as a management tool in various stages of creative thinking. Secondly, based on a study made from secondary sources of economic literature, the paper draws a parallel between marketing research and benchmarking. Finally, the paper shows that creative benchmarking closes the management - marketing - creativity circle for the benefit of the organization and community.

  13. The Impact of Ownership Structure on Firm Performance : Evidence From a Large Emerging Market

    NARCIS (Netherlands)

    Douma, S.W.; George, R.; Kabir, M.R.

    2002-01-01

    We examine how ownership structure affects the performance of firms using firm level data from a large emerging market, India.We specifically focus on a previously unexplored phenomenon, namely the differential role played by foreign institutional and foreign corporate shareholders.An examination of

  14. Relationship Between Market Orientation and Business Performance in Czech and German High-Tech Firms

    Directory of Open Access Journals (Sweden)

    Patrik Jangl

    2015-12-01

    Full Text Available The main goal of this paper is to find out an index of market orientation, and explore the relationship between four components of market orientation in high-tech firms and their business performance. Business performance was studied as a one-dimensional construct. Market orientation in this study is defined as a process of intelligence generation about customers and competitors, intelligence dissemination and integration within the company across teams, and responsiveness to market intelligence in the form of coordinated action. The statistical sample was represented by 164 Czech and 187 German high-tech firms in the manufacturing industry. Respondents (sales and marketing managers completed a questionnaire and marked their rate of approval with individual statements on a Likert scale ranging from 1 to 7. Market orientation and business performance level was determined as the arithmetic mean (x̄ of the measured values. Depending on the size of the total market orientation index (MOI, Czech (x̄=5.2 and German (x̄=5.14 high-tech firms are medium market-oriented. The business performance index (BPI reached a slightly higher value in Germany (x̄=5.22 as compared to the Czech Republic (x̄=5.13. The main method to reach the target was correlation and regression analysis. This study confirmed a hypothesis about the existence of a correlation between components of market orientation and business performance. Three of the four relationships in the multiple regression model were significant. On the other hand, the study found no positive significant correlation between competitor intelligence generation and business performance.

  15. The impact of price-cap regulations on market entry by generic pharmaceutical firms.

    Science.gov (United States)

    Zhang, Wei; Sun, Huiying; Guh, Daphne; Anis, Aslam H

    2017-04-01

    In 1998, the province of Ontario, Canada implemented price-cap '70/90' regulations: the first generic must be priced at ≤70% of the associated brand-name price and subsequent generics must be priced at ≤90% of the first generics' price. The price-cap was further lowered to 50% in 2006 and 25% in 2010 for all generic drugs regardless of the first or subsequent generic entrants. This study assessed the impact of such price-cap regulations on market entry by generic firms using the formulary database from 9 provinces (January 2004-March 2013). A logistic regression was estimated to compare the probability of entry during the three policy periods in Ontario ('70/90', '25', versus '50'). Since different price-caps were subsequently introduced in other provinces, Alberta, British Columbia, New Brunswick and Saskatchewan, difference-in-differences was used to compare market entry. In Ontario, compared with the period '50', generic firms were 76% and 63% less likely to enter markets in the periods '25' and '70/90', respectively. The difference-in-differences showed that the entry probability decreased the most in Ontario during the '25' period from the '50' period. Lowering the price-cap level to 25% leads to a significantly lower probability of market entry by generic firms.

  16. Market Microstructure Effects on Firm Default Risk Evaluation

    Directory of Open Access Journals (Sweden)

    Flavia Barsotti

    2016-07-01

    Full Text Available Default probability is a fundamental variable determining the credit worthiness of a firm and equity volatility estimation plays a key role in its evaluation. Assuming a structural credit risk modeling approach, we study the impact of choosing different non parametric equity volatility estimators on default probability evaluation, when market microstructure noise is considered. A general stochastic volatility framework with jumps for the underlying asset dynamics is defined inside a Merton-like structural model. To estimate the volatility risk component of a firm we use high-frequency equity data: market microstructure noise is introduced as a direct effect of observing noisy high-frequency equity prices. A Monte Carlo simulation analysis is conducted to (i test the performance of alternative non-parametric equity volatility estimators in their capability of filtering out the microstructure noise and backing out the true unobservable asset volatility; (ii study the effects of different non-parametric estimation techniques on default probability evaluation. The impact of the non-parametric volatility estimators on risk evaluation is not negligible: a sensitivity analysis defined for alternative values of the leverage parameter and average jumps size reveals that the characteristics of the dataset are crucial to determine which is the proper estimator to consider from a credit risk perspective.

  17. Audit Firm Size and Market Price Per Share of Quoted Companies in Nigeria

    Directory of Open Access Journals (Sweden)

    Augustine O. Okolie

    2014-05-01

    Full Text Available This study investigates the influence which audit firm size exerts on the market value per share of companies in Nigeria. Based on a sample of 342 companies – year observations from the NSE and applying audit firm size as a measure, comprehensive multivariate analyses were conducted on archival data covering 2006 – 2011. The result showed that audit firm size exerts significant relationship and significantly influences market price per share of the companies in the sample. It is suggested that companies in Nigeria should improve their earnings quality only through sales growth and cost control strategies and present distinct reports on earnings quality. Furthermore, company auditors should issue Integrated Audit Quality Assurance Reports based on earnings quality assessment, statutorily backed by earnings monitoring of companies in Nigeria while regulatory agencies should issue authoritative codes of best practice in Nigeria.

  18. Empirical approach to endorsement marketing and consumer fanaticism of telecom firms Nigeria’s Rivers State

    Directory of Open Access Journals (Sweden)

    Joy E. Akahome

    2017-10-01

    Full Text Available The paper is an empirical investigation of the relationship between endorsement marketing and consumer fanaticism of telecom firms in Rivers State. A sample of 200 customers of selected telecom firms was surveyed and 196 copies of the questionnaire were returned and valid after data collation and cleaning for analysis using Pearson’s Product Moment Correlation with the aid of SPSS version 21.0. Based on findings, the paper concludes that celebrity-product-fit has a strong relationship with consumer fanaticism of telecom firms in Rivers State. Amongst the recommendations is that more investment should be made on endorsement marketing activities as it enhances consumers’ brand recognition.

  19. Firm Exit, Technological Progress and Trade

    DEFF Research Database (Denmark)

    Schröder, Philipp; Sørensen, Allan

    The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher productiv......The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher...... productivity firms survive longer, most firm closures are young firms, higher productivity exporters are more likely to continue to export compared to less productive exporters and market exits as well as firm closures are typically preceded by periods of contracting market shares. The present paper shows...... liberalization on export market exit and firm closure....

  20. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience

    Directory of Open Access Journals (Sweden)

    Gordon Robert Foxall

    2014-07-01

    Full Text Available The emergence of a conception of the marketing firm (Foxall, 1999a conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004 permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i market exchange, (ii emotional reward, and (iii neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm—consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency.

  1. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience

    Science.gov (United States)

    Foxall, Gordon R.

    2014-01-01

    The emergence of a conception of the marketing firm (Foxall, 1999a) conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004) permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i) market exchange, (ii) emotional reward, and (iii) neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm—consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency. PMID:25071506

  2. Do generation firms in restructured electricity markets have incentives to support social-welfare-improving transmission investments?

    International Nuclear Information System (INIS)

    Sauma, Enzo E.; Oren, Shmuel S.

    2009-01-01

    This paper examines the incentives that generation firms have in restructured electricity markets for supporting long-term transmission investments. In particular, we study whether generation firms, which arguably play a dominant role in the restructured electricity markets, have the incentives to fund or support incremental social-welfare-improving transmission investments. We examine this question in a two-node network and explore how such incentives are affected by the ownership of financial transmission rights (FTRs) by generation firms. In the analyzed two-node network, we show both (1) that the net exporter generation firm has the correct incentives to increase the transmission capacity incrementally up to a certain level and (2) that, although a policy that allocates FTRs to the net exporter generation firm can be desirable from a social point of view, such a policy would dilute the net-importer-generation-firm's incentives to support transmission expansion. Moreover, if all FTRs were allocated or auctioned off to the net exporter generation firm, then it is possible to increase both consumer surplus and social welfare while keeping the net exporter generation firm revenue neutral. (author)

  3. An investigation on the relationship between quarterly earnings adjustment and market value in selected firms listed on TSE Exchange

    Directory of Open Access Journals (Sweden)

    Reza Tehrani

    2013-03-01

    Full Text Available Earning reports are the primary basis of investment decisions among many individuals and fund managers. Any positive/negative adjustment on quarterly financial report could influence investment strategies, which consequently make significant change on market value. In this paper, we present an empirical study on some selected firms on Tehran Stock exchange by looking the effects of quarterly earning adjustment on firm and market’s return. The proposed study selects all firms whose shares were actively and publicly traded over the period 2006-2011. The study investigates whether there is a meaningful relationship between the content of quarterly earnings report and stock price with/without the presence of control variables. The results have concluded that there are some meaningful relationships between change in earning and market value and return on firm with market value but market value seems to have no relationship with market return changes.

  4. Towards an understanding of marketing planning practices in indigenous small firms in the electronics sector in the republic of Ireland

    OpenAIRE

    Ennis, Sean

    1997-01-01

    This thesis examines the role which marketing plays in the planning process of small indigenous companies in the electronics sector in the Republic of Ireland. In particular it attempts to identify the main influencing factors which shape the particular approach adopted by such firms. The research involved a comprehensive review of the literature on small business policy in Ireland, entrepreneurship, growth and the small firm, and also strategy and planning. A pluralistic approach to the ...

  5. Effective forms of market orientation across the business cycle:a longitudinal analysis of business-to-business firms

    OpenAIRE

    Frösén, Johanna; Jaakkola, Matti; Churakova, Iya; Tikkanen, Henrikki

    2016-01-01

    Macroeconomic developments, such as the business cycle, have a remarkable influence on firms and their perfor- mance. In business-to-business (B-to-B) markets characterized by a strong emphasis on long-term customer relationships, market orientation (MO) provides a particularly important safeguard for firms against fluctuating market forces. Using panel data from an economic upturn and downturn, we examine the effectiveness of differ- ent forms of MO (i.e., customer orientation, competitor or...

  6. Internationalization of portuguese luxury firms to emerging markets : Loja das Meias and Fátima Lopes case study

    OpenAIRE

    Carvalho, Madalena Maria Gema de

    2012-01-01

    In a fast evolving luxury industry, brands strive to grow and seek news ways to reach success. This thesis focuses on the internationalization of Portuguese luxury firms to emerging markets. Internationalization comes has a significant response to the fast-passing luxury industry, which alongside with limited room to evolve in the Portuguese luxury market, has driven national firms to widen their boarders and expand to international audiences. As emerging markets are increasingly showing thei...

  7. Tax Incentive, Public Share Proportion, and Firm Performance: Evidence from Indonesian Capital Market

    Directory of Open Access Journals (Sweden)

    Vierly Ananta Upa

    2012-01-01

    Full Text Available Indonesian government has changed the taxation law in 2007. The regulation revealed thatcompanies listed on capital market can obtain reduced income tax rate by 5 percent. Decrease inincome tax rates is granted to domestic corporate taxpayers listed on capital market that have publicownership over 40 percent of the total paid shares and the shares owned by at least 300 parties. Thepurpose of this research is to analyze the effectiveness of government regulation (PP No. 81 of 2007.This research used companies listed on Indonesia Stock Exchange (IDX which have right offeringin 2009-2010 as a sample. Sample selection is performed based on purposive sampling method. Theresult indicates that government regulation related to tax incentives, which was aimed to increasethe proportion of public ownership, is still less effective. In addition, this study also showed that theproportion of public ownership has no significant effect on firm performance

  8. An empirical investigation on factors influencing choice of foreign market by media firms

    Directory of Open Access Journals (Sweden)

    Ali Akbar Farhangi

    2014-02-01

    Full Text Available This study examines a number of factors suggested in the literature as important determinants of the foreign market selection. Key strategic factors are determined as four groups: host-country characteristics, firm-specific factors, competitive situation and content adaptation. In this study, multiple regression and path analysis are used. To test the model with modeling techniques, the necessary data from 29 media firms were used. It is based on a questionnaire, which has provided several insights into market selection elements. Our findings indicate that all components of the host country, exporting companies, competitive situation and the content adaptation could influence positively the selection of foreign market. The results also indicate that the adaptation of content was the most effective in choosing a foreign market. In addition, cross-cultural adaptation is an important component in selection of foreign markets. The results also suggest that the causal relationships between the independent variables are positive and significant, while the relationship between the content adaptation and the competitive situation has not been confirmed.

  9. Firm-specific impacts of CO_2 prices on the stock market value of the Spanish power industry

    International Nuclear Information System (INIS)

    Pereira da Silva, Patricia; Moreno, Blanca; Figueiredo, Nuno Carvalho

    2016-01-01

    European Union carbon emissions allowances (EUA) price fluctuations can affect electricity companies' stock market values as these oscillations may change firms' profitability and thus investors' decisions. This outcome can differ not only contingent on the EU ETS Phase, but also on firms' generation mix. Moreover, stock markets may react differently to EUA increases in comparison to decreases, thus asymmetrically. By using daily data from January 2008 to July 2014, this article analyses long-run equilibrium relations and short-run interactions between the aggregated electricity industry stock market returns and EUA price changes. Moreover, we test if the relationship between EUA price variations and electricity stock returns is asymmetric and if the carbon price effect and the asymmetry are power firm-specific. Adding to earlier studies, we initially provide an inspection of the individual impact of EU ETS Phase II and on-going Phase III; followed by a comparative analysis between power firms which core activity relies on renewable energy sources and those whose sources are fundamentally non-renewable ones. A statistically significant positive long-run impact of EU ETS on the aggregated power sector stock market return is found concerning Phase II and works asymmetrically. Moreover, evidence is provided demonstrating that asymmetry and EUA effects are power firm-specific. - Highlights: •EU ETS impacts on stock market returns of Spanish power sector. •Long-run positive effect of EU ETS on market returns is found only in Phase II. •No short-run effects were found. •EUA price effect is company-specific.

  10. Effect of Disproportional Voting Rights on Firm’s Market Performance: Evidence from Chinese Firms Cross-Listed on U.S. Exchanges

    Directory of Open Access Journals (Sweden)

    Abdullah

    2017-09-01

    Full Text Available Dual-class firms face great criticism as it is believed that firms choose this structure to expropriate minority shareholders’ wealth. We compare market performance of Chinese dual-class firms with their single-class counterparts by constructing a list of Chinese firms cross-listed on U.S. exchanges. We find, contrary to the literature, that Chinese dual-class firms are outperforming in terms of market performance measured by Tobin’s Q, P/E ratio, and abnormal return in both subsequent years after the initial public offering (IPO. The reason for contrary results is that Chinese dual-class firms bond themselves to high U.S. standards from low local Chinese standards, and it is evident from the literature that when a firm bonds itself to high standards it shows a credible commitment towards minority shareholders’ rights, as well as focus on upright performance rather than investing in value-destroying projects and competes to survive in the market that imposes the high standards.

  11. Will the leading firm continue to dominate the market in the Taiwan notebook industry?

    Science.gov (United States)

    Chu, Hsiao-Ping; Yeh, Ming-Liang; Sher, Peter J.; Chiu, Yi-Chia

    2007-09-01

    This study investigates whether the market share leader in the notebook industry in Taiwan is likely to maintain its dominant position. Market share data are used to investigate the intensity of competitiveness in the industry, and data on the gap in market shares are employed to elucidate the dominance of the leading firm in Taiwan's notebook industry during the 1998-2004 period. The newly developed Panel SURADF tests advanced by Breuer et al. [Misleading inferences from panel unit root tests with an illustration from purchasing power parity, Rev. Int. Econ. 9 (3) (2001) 482-493] are employed to determine whether the market share gap is stationary or not. Unlike other panel-based unit root tests which are joint tests of a unit root for all members of a panel and are incapable of determining the mix of I(0) and I(1) series in a panel setting, the Panel SURADF tests have the advantage of being able to investigate a separate unit root null hypothesis for each individual panel member and are, therefore, able to identify how many and which series in a panel are stationary processes. The empirical results from several panel-based unit root tests substantiate that the market shares of the firms studied here are non-stationary, indicating that Taiwan's notebook industry is highly competitive; however, Breuer et al.'s [12] Panel SURADF tests unequivocally show that only Compal is stationary with respect to market share gap. In terms of sales volume, Compal is the second largest firm in the notebook industry in Taiwan, and the results indicate that it alone has the opportunity to become the market share leader in the notebook industry.

  12. Development of OLI+S Entry Decision Model for Construction Firms in International Markets

    Directory of Open Access Journals (Sweden)

    Che Maznah Binti Mat Isa

    2017-12-01

    Full Text Available The paper aims to provide a holistic approach to address how construction firms make decisions covering all three domains (location, timing and mode across country, market, firm and project factors within the Ownership, Locational and Internalisation plus Specialty (OLI+S paradigm. Questionnaires were administered to 62 project managers based on a sampling frame provided by the Construction Industry Development Board Malaysia. The findings provide empirical and theoretical insights on how the OLI+S model addresses firms’ entry decisions to penetrate international markets. It suggests that the ownership-entry decision factors focus on firms’ internal transferable advantages. The locational-entry decision factors emphasise attractiveness of certain locations where firms decided to invest and operate. The internalisation– entry decision factors emphasise the extent to which firms were able to manipulate their internal competitive assets (firm’s resources and capabilities. Finally, the specialty-entry decision factors emphasise on firms’ competency in project management and specialist expertise to handle complex projects based on their previous project experience. An example of construction firms’ unique characteristics, namely, specialty advantages based on the original Dunning’s OLI eclectic paradigm has been adopted. The established OLI+S entry decision model could be investigated to further refine other related internationalisation theory.

  13. The influence of market orientation on firm performance and members’ livelihood in Ethiopian seed producer cooperatives

    NARCIS (Netherlands)

    Sisay, Dawit Tsegaye; Verhees, Frans J.H.M.; Trijp, Van Hans C.M.

    2017-01-01

    The positive effects of market orientation and its components on firm performance are empirically supported by studies conducted for large firms in developed economies. However, its influence on performance in developing and emerging (D&E) economies, particularly under a cooperative's context,

  14. The effects of innovation on firm performance of supporting industries in Hanoi, Vietnam

    Energy Technology Data Exchange (ETDEWEB)

    Tuan, N.; Nhan, N.; Giang, P.; Ngoc, N.

    2016-07-01

    Innovation, including product, process, marketing, and organizational innovation within a firm, is considered as one of essential component for surviving and growing. These innovation activities create value and competitive advantages for successful organizations; therefore, understanding the organization’s overall innovation is the first and foremost to understand the role of innovation on firm performance. The objective of this research is to explore two parts: the impacts of innovation on the different aspect of innovation performance, then their effects to firm performance (production, market, and financial performance). This study uses primary data from questionnaire survey. The questionnaire involves 4 parts including general information, innovation activities; innovative performance, and firm performance. This research focuses on firms in supporting industries of mechanics, electronics, motorbike and automobile. These firms are in a list of companies (known as The Excellent Vietnamese Companies in Northern and Central Vietnam) established by JETRO and VCCI. There are 150 firms in this list. The questionnaire survey was administered to directors, CEO of those firms during April and May, 2014. Out of the 150 questionnaires sent out, 118 were valid, accounting for 78.7% of the true response rate. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. The result demonstrated there are positive effects of process, marketing, and organizational innovations on firm performance in supporting firms. More specifically, the higher the level of innovation activities is, the greater the innovative performance is, which means the larger level of Process, organization and marketing innovation activities are, the higher level of innovative performance are likely to be. Secondly, the higher level of Process, organization and marketing innovative performance, the better level of firm performances is likely to be. To sum up, in

  15. A Study of the Mediating Role of Product Management on Relationship between Market orientation and firm Performance (Case Study: Home appliances manufacturing companies in Esfahan Province)

    OpenAIRE

    Hassan Ghorbani; Azade Yaghootkar

    2013-01-01

    The present paper, titled ‘A Study of the Effect of market orientation on SME firm performance the mediating role of product management’ Seek to answer the question Which aspects of product management how affect the firm performance Thus the product management literature, as well as market orieantation and performance in home appliances factories in Isfahan Province are examined. This research, in terms of its purpose, is an applied one; and in terms of implementation method, is a survey with...

  16. A Firm Level Study of Information Technology Productivity in Europe Using Financial and Market Based Measures

    Directory of Open Access Journals (Sweden)

    Alan Peslak

    2004-05-01

    Full Text Available For many years, business has invested significant resources in information technology, hardware, software, and manpower. The Productivity Paradox is the seeming lack of productivity gains despite the increased investment in IT. For many years the existence of a Productivity Paradox has been the subject of research interest. Conflicting results have been obtained from a variety of data sets. Until this time however there has been no study that has investigated European companies’ use of information technology and its impact on productivity. The objective of this study was to investigate information technology productivity with a new data set from a European published source, and measuring productivity using both market and financial based measures. Results of the study indicated that information technology did have a consistent positive impact on firm level productivity in Europe for the years 1996, 1997, and 1998. Both market and financial based productivity measures provided consistent positive significant returns with regard to IT productivity. The major contribution of the study is that it provides an analysis of the impact of European information technology on firm and economic productivity.

  17. Drivers of relationships affecting B2B firms in an e-commerce environment

    Directory of Open Access Journals (Sweden)

    Irene Samanta

    2014-09-01

    Full Text Available The advent of the internet has created numerous opportunities for B2B marketing professionals to enhance current marketing practices, including electronic relationships. However, the investigation of e-relationships and the factors that influence e-relationships in an internet environment is scant. Further, there appears to be no investigation of this phenomenon within the context of Greek B2B Medium-sized firms (MSF. Τhe research problem investigated in this research is: “Which drivers in B2B e-commerce use affect inter-firm relationships in medium-sized B2B firms?”. A framework for B2B e-commerce relationships in a changing and globalized environment was synthesised and integrated with the literature about relationship marketing to arrive at the following research issues: “How do relationship marketing drivers affect the management of B2B e-relationships?”. An explanatory quantitative research approach was used and quantitative data was collected from B2B firms in Greece, which represents a case of e-commerce progress during the last six years. Regarding social exchange, some important differences emerge where cooperation between B2B e-commerce firms is concerned. Suppliers engaged in electronic commerce are more committed and oriented to a long-term relationship than buyers, based on both previous and current experience with them. Confidence in the relationships, consistency and honesty with their obligations and the exchange of reliable, trustworthy information and advisory services between firms are important factors in the development and establishment of their e-relationships. The main contribution of this research is the development of a theoretical framework for e-relationships in medium-sized Β2Β firms. That framework is the first rigorously researched step towards understanding the importance of these powerful streams of relationship drivers in total, and the business activity of e-marketing and electronic relationships.

  18. Essays on Labour Markets: Worker-Firm Dynamics, Occupational Segregation and Workplace Conditions

    NARCIS (Netherlands)

    I.S. Buhai (Sebastian)

    2008-01-01

    textabstractThe main chapters of this book, “Essays on Labour Markets”, focus on analyzing the dynamics of the employment relationship between workers and firms (chapters 2 and 3), modelling occupational segregation and labour market inequalities between social groups (chapter 4) and characterizing

  19. Firms, crowds, and innovation.

    Science.gov (United States)

    Felin, Teppo; Lakhani, Karim R; Tushman, Michael L

    2017-05-01

    The purpose of this article is to suggest a (preliminary) taxonomy and research agenda for the topic of "firms, crowds, and innovation" and to provide an introduction to the associated special issue. We specifically discuss how various crowd-related phenomena and practices-for example, crowdsourcing, crowdfunding, user innovation, and peer production-relate to theories of the firm, with particular attention on "sociality" in firms and markets. We first briefly review extant theories of the firm and then discuss three theoretical aspects of sociality related to crowds in the context of strategy, organizations, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling, sociality as matching and identity), (2) the forms of sociality (independent/aggregate and interacting/emergent forms of sociality), and (3) the failures of sociality (misattribution and misapplication). We conclude with an outline of future research directions and introduce the special issue papers and essays.

  20. A Research on Market Orientation of SMES in India: A Qualitiative Approach.

    OpenAIRE

    Jaggi, Rajiv Raja

    2007-01-01

    Market orientation is a very challenging subject in the marketing literature and its significance is being recognised gradually in theoretically as well in practical application. There have been various studies showing the positive effect of market orientation on the performance of large firms. But there has not been enough research about the market orientation of small and medium enterprises (SMEs). Taking into consideration the growing importance of SME sector in various economies especiall...

  1. Competition of two supply chains with different risk structures: applying market research option

    Directory of Open Access Journals (Sweden)

    A. Hafezolkotob

    2012-01-01

    Full Text Available Demand uncertainty obliges all participants through a supply chain to make decisions under uncertainty. These decisions extend across price, investment, production, and inventory quantities. We take account of competition between two supply chains under demand uncertainty. These chains internally are involved in vertical pricing competition; however, they externally participate in horizontal pricing and service level competitions by offering a single-type product to the market. Since firms may have various attitudes against demand uncertainty and its related risks, different risk structures for competitive supply chains are considered. We assume that risk-averse firms are able to decrease demand uncertainty by information gathered from market research. For risk-averse participants in a chain, market research investment is an appropriate ground for vertical coordination, which diminishes risk through a supply chain. Optimal strategies based on game theory are obtained for different risk structures; furthermore, for each structure the effects of risk sensitivity as well as market research efficiency on these optimal strategies are investigated. Finally, we propose two scenarios for information sharing between risk-averse participants.

  2. Coordinated vs. liberal market HRM: the impact of institutionalisation on multinational firms

    NARCIS (Netherlands)

    Farndale, E.; Brewster, C.; Poutsma, F.

    2008-01-01

    The impact of institutionalized contexts on the HRM activities of multinational firms has become a focus of increasing attention in recent literature. However, theories of how different types of business systems or market economies may influence HRM, and the impact of context on multinational

  3. 7 CFR 51.893 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.893 Section 51.893 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Table Grapes (European or Vinifera Type) 1 Definitions § 51.893 Firm. Firm means...

  4. The effects of innovation on firm performance of supporting industries in Hanoi, Vietnam

    Directory of Open Access Journals (Sweden)

    Nham Tuan

    2016-04-01

    Full Text Available Purpose: Innovation, including product, process, marketing, and organizational innovation within a firm, is considered as one of essential component for surviving and growing. These innovation activities create value and competitive advantages for successful organizations; therefore, understanding the organization’s overall innovation is the first and foremost to understand the role of innovation on firm performance. The objective of this research is to explore two parts: the impacts of innovation on the different aspect of innovation performance, then their effects to firm performance (production, market, and financial performance. Design/methodology/approach: This study uses primary data from questionnaire survey. The questionnaire involves 4 parts including general information, innovation activities; innovative performance, and firm performance. This research focuses on firms in supporting industries of mechanics, electronics, motorbike and automobile. These firms are in a list of companies (known as The Excellent Vietnamese Companies in Northern and Central Vietnam established by JETRO and VCCI. There are 150 firms in this list. The questionnaire survey was administered to directors, CEO of those firms during April and May, 2014. Out of the 150 questionnaires sent out, 118 were valid, accounting for 78.7% of the true response rate. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. Findings: The result demonstrated there are positive effects of process, marketing, and organizational innovations on firm performance in supporting firms. More specifically, the higher the level of innovation activities is, the greater the innovative performance is, which means the larger level of Process, organization and marketing innovation activities are, the higher level of innovative performance are likely to be. Secondly, the higher level of Process, organization and marketing innovative performance, the

  5. An Empirical Study on the Behavior of Monthly Stock Prices of Fortune 500 Firms and S&P Smaller Firms: Evidence and Implications

    OpenAIRE

    Young H. Kim; Edward L. Davis; Charles T. Moses

    2014-01-01

    This paper revisits a random walk hypothesis by investigating the behavior of monthly stock prices of 461 Fortune 500 firms over 45 years and 599 S&P smaller firms over 10 years. The Box-Jenkins ARIMA models are applied to time series analysis and stock market forecasting to find the monthly stock price behavior. The research findings show that 309 (67.03%) Fortune 500 firms and 449 (74.96%) S&P smaller firms follow a random walk. The monthly stock prices of Fortune 500 firms and S&P firms ...

  6. 7 CFR 51.1551 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1551 Section 51.1551 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Potatoes 1 Definitions § 51.1551 Firm. Firm means that the potato is not shriveled...

  7. 7 CFR 51.696 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.696 Section 51.696 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.696 Firm. Firm as applied to common oranges, means that the fruit is not soft, or noticeably...

  8. 7 CFR 51.1353 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1353 Section 51.1353 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Pears for Canning Definitions § 51.1353 Firm. Firm means that the pear is fairly solid and...

  9. 7 CFR 51.1006 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1006 Section 51.1006 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1006 Firm. Firm means that the fruit is not soft or...

  10. 7 CFR 51.1824 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1824 Section 51.1824 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1824 Firm. Firm means that the flesh is not soft...

  11. 7 CFR 51.765 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.765 Section 51.765 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.765 Firm. Firm means that the fruit is not soft...

  12. 7 CFR 51.634 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.634 Section 51.634 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.634 Firm. Firm means that the fruit is not soft, or noticeably wilted or flabby, and the skin...

  13. An empirical study of Malaysian firms' capital structure

    OpenAIRE

    Zain, Sharifah Raihan Syed Mohd

    2003-01-01

    Merged with duplicate record 10026.1/821 on 27.03.2017 by CS (TIS) It is sometimes purported that one of the factors affecting a firm's value is its capital structure. The event of the 1997 Asian financial crisis was expected to affect the firms' gearing level as the firms' earnings deteriorated and the capital market collapsed. The main objective of this research is to examine empirically the determinants of the capital structure of Malaysian firms. The main additional aim is ...

  14. The Home-based Advantages and a Hierarchy of Location Advantages: Foreign and British-owned Firms in the London Wholesale Insurance Market

    OpenAIRE

    Lilach Nachum

    2003-01-01

    This study seeks to explain why, in some cases, locationally advantageous countries attract foreign firms, who develop dominant competitive positions in the market, rather than facilitate the development of internationally competitive national firms, as theory suggests. Comparative analyses of samples of foreign and British-owned insurance firms in the London wholesale insurance market are used to establish a hierarchy of location advantages in terms of their competitive importance. It is sho...

  15. How should firms develop and or change their marketing competencies when developing relationships with consumers online?

    OpenAIRE

    Maklan, Stan

    2004-01-01

    An empirical study is reported which attempts both to improve marketing practice whilst developing key aspects of marketing and resource-based theory. The thesis describes how firms can develop marketing competencies to exploit emerging online marketing technology and business opportunities. In doing so, the thesis provides empirical evidence that opens up what is widely acknowledged in the literature as "the black box of resources". Specifically, it explores the way marketing ...

  16. Spatial self-preference: On the limits of place marketing to attract new residents and firms

    NARCIS (Netherlands)

    Hospers, G-J.

    2010-01-01

    Worried about demographic and economic shrinkage, more and more cities and regions in Europe invest in place marketing. With campaigns, they try to seduce new residents and firms to settle in their community. In this article, we question the usefulness of such 'cold' place marketing by referring to

  17. THE CAPACITY AND COMPETITIVENESS OF THE FIRMS IN INTERNATIONAL BUSINESS – FOUR MODELS OF MARKET APPROACH

    Directory of Open Access Journals (Sweden)

    Adina NEAMTU

    2012-03-01

    Full Text Available Firma and companies wish the extension on the international market, but not always are able to serve in anefficient manner, an extended market as a result of the capacity restrictions that these companies register. Inrapport with the capacity restrictions, the firm would take into account another dimension of the Internationalmarket that might posses. The study takes into consideration the adaptation of the firm at one of the four levels ofmarket development, having as result two major approaches, each approach offering two action modalities at thelevel of international business. There results four modalities (ways of assignment of the resources and activities,depending on the capacity of the company, in rapport with the one of the market and competition.

  18. Executive compensation and firm performance: Evidence from Indian firms

    Directory of Open Access Journals (Sweden)

    Mehul Raithatha

    2016-09-01

    Full Text Available The study examines the relationship between executive compensation and firm performance among Indian firms. The evidence suggests that firm performance measured by accounting, as well as market-based measures, significantly affects executive compensation. We also test for the presence of persistence in executive compensation by employing the system-generalised methods of moments (GMM estimator. We find significant persistence in executive compensation among the sample firms. Further, we report the absence of pay–performance relationship among the smaller sample firms and business group affiliated firms. Thus, our findings cast doubts over the performance-based executive compensation practices of Indian business group affiliated firms.

  19. Entry Mode and Performance of Nordic Firms

    DEFF Research Database (Denmark)

    Wulff, Jesper

    2015-01-01

    including the proposed moderating effect, on average, yield higher post-entry performance. This study sheds light on inconsistent results found in previous research investigating the impact of international experience and has practical implications for managerial decision-making.......This study investigates whether the relationship between mode of international market entry and non-location bound international experience is weaker for firms that are large or have a high foreign to total sales ratio, labeled multinational experience. Empirical evidence based on 250 foreign...... market entries made by Norwegian, Danish and Swedish firms suggests that the association between equity mode choice and non-location bound international experience diminishes in the presence of higher levels of multinational experience. Furthermore, firms whose entry mode choice is predicted by the model...

  20. CURRENT ASSET TUNNELING AND FIRM PERFORMANCE IN AN EMERGING MARKET

    OpenAIRE

    Ratna Candra Sari; Zaki Baridwan

    2014-01-01

    This study examines the effect of current asset tunneling on firm performance from the emerging market perspective. Although tunneling activities is a common practices by businesses especially in Indonesia, there exist obstacles in the measurement of tunneling activity because it is difficult to proof the existence of such practices. In this study, we measure tunneling by using accounts receivables and develop tunneling detection criteria. In addition, this study examines the effect of tunnel...

  1. Board Characteristics and Firm Performance: Evidence from Indonesia

    Directory of Open Access Journals (Sweden)

    Athalia Ariati Hidayat

    2015-12-01

    Full Text Available This research examines the effect of board characteristics (comprising in different sized proportions: family commissioners, family directors, independent commissioners, ex-government officer commissioners, and board of commissioners size to firm performance. Using fixed-effects data panel regression, this research investigates 293 firms listed on the Indonesian Stock Exchange during 2008-2012. Firm performance is proxied by market measure (Tobin’s Q and accounting measure (ROA. The findings of this research suggest that the proportion of family commissioners and family directors have positive impact only to Tobin’s Q value, while the proportion of independent directors can increase both Tobin’s Q and ROA. On the other hand, this research finds that the proportion of ex-government officers in the board gives no impact to firm performance. This research also finds that the board size has U-shaped non-linear relationship with firm performance as proxied by Tobin’s Q and ROA.

  2. Shareholders' reactions to announcements of acquisitions of private firms : Do target and bidder markets make a difference?

    NARCIS (Netherlands)

    von Eije, Henk; Wiegerinck, Helene

    We study announcement effects of cross-border acquisitions of private firms on short-term bidders stock market returns in the European Union. We assume that the development status of the target market and the governance within the bidder market make a difference. Investors of bidding companies react

  3. Market concentration, corporate governance and innovation: Partial and combined effects in US-listed firms

    Directory of Open Access Journals (Sweden)

    Mehmet Ugur

    2012-10-01

    Full Text Available Existing research on the relationship between market concentration and innovation has produced conflicting findings. In addition, the emerging literature on the relationship between corporate governance and innovation tends to focus only on partial effects of corporate governance on innovation. We aim to contribute to the debate by investigating both partial and combined effects of corporate governance and market concentration on innovation. Utilising a dataset for 1,400 non-financial US-listed companies and two-way cluster-robust estimation methodology, we report several findings. First, the relationship between market concentration and innovation is non-linear. Secondly, the relationship has a U-shape in the case of input measure of innovation (research and development - R&D – expenditures; but it has an inverted-U shape when net book-value of brands and patents is used as output measure of innovation. Third, corporate governance indicators such as anti-takeover defences and insider control tend to have a negative partial effect on R&D expenditures but a positive partial effect on net book-value of brands and patents. Finally, when interacted with market concentration, anti-takeover defences and insider control act as complements to market concentration. Hence, firms with strong anti-take-over defences and under insider control tend to spend more on R&D but are less able to generate valuable brands and patents as market concentration increases. These results are based on two-way cluster-robust estimation, which takes account of both serial and cross-sectional dependence in the error terms.

  4. The Intangible Assets of Korean Manufacturing Firms for Foreign Direct Investment

    Directory of Open Access Journals (Sweden)

    Sunghoon Hong

    2004-12-01

    Full Text Available This paper attempts to apply the intangible assets approach to the emerging multinational enterprises of Korea. More specifically, it tries to empirically analyze whether Korean firms investing in foreign markets possess more advanced intangible assets than those investing only in the domestic market, and whether Korean firms exploit different types of tangible assets in different host regions. The following conclusions have been drawn by analyzing the data on Korea manufacturing firms listed on the Stock Exchange. First, firms investing in foreign markets possess more advanced intangible assets than domestic market-oriented ones. More specifically, firms investing in the Western developed region are shown to be superior in the economies of scale, R&D, advertising intensity, capital intensity, and interfirm linkages, whereas those investing in the Asian developing region are superior only in the economies of scale and organizational skills. This implies that Korean firms operating in developed countries seem to exploit a wider range of intangible assets to address intense competition and sophisticated demand in the host markets. And, when firms investing in the developed and developing regions are compared directly, the former group are found to exploit technological capability and interfirm linkages more intensively. Second, availability of internal funds and human capital intensity do not show statistical significances, implying that these abilities are not different between firms investing in foreign markets and the domestic market. Third, Korean multinational enterprises are more similar to Japanese than Western ones in terms that they actively exploit organizational skills and interfirm network. Nonetheless, these conclusions have been derived by analyzing the data on parent firms, based on the assumption that Korean overseas subsidiaries commonly share the intangible assets of their parents. This weakness is mainly due to the limited

  5. Corporate Sustainability Management and Its Market Benefits

    Directory of Open Access Journals (Sweden)

    Joonhyun Kim

    2018-05-01

    Full Text Available An increasing number of firms around the world are applying corporate sustainability management (CSM to their business operations, and the research interest on the effect of CSM in terms of the capital market benefit has grown rapidly under the different research settings across various countries. This study investigates whether CSM contributes to increasing firm value and improving the market response to earnings disclosure, using Korean firms as the sample. The test results show that firms with CSM reporting outperform the other firms in terms of Tobin’s Q and the market-adjusted stock returns over a year. Further, investors respond more strongly to the earnings announcement events of the CSM firms than the non-CSM firms, which is more likely to be attributed to the enhanced corporate disclosure practice of the CSM firms than an improvement in earnings quality. Our findings indicate that the shareholders of firms with CSM reporting can enjoy relatively higher market valuations and enhanced information content of earnings disclosures. In conclusion, the results show that the CSM activities in pursuit of a harmonious relationship with the various stakeholders bring different forms of market benefits to shareholders as well.

  6. How Emerging Market Resource-poor Firms Compete and Outcompete Advanced Country Resource-Rich Rivals

    DEFF Research Database (Denmark)

    Li, Xin

    2018-01-01

    Purpose: The purpose of this paper is to comment on Professor Ming-Jer Chen’s recent publication titled “Competitive dynamics: Eastern roots, Western growth” and present an asymmetry reversing perspective on the competitive dynamics between two nonobvious, invisible or indirect competitors, namely......, how emerging market resource-poor firms compete and outcompete advanced country resource-rich rivals. Design/methodology/approach: The author first identifies an important neglect in Professor Chen’s scholarship on competitive dynamics, i.e., the neglect of the ubiquity of the less visible competition...... position, and try to avoid any direct competition with the strong incumbents. They often tactically appear to pursue different paths of development from those of the strong incumbents by focusing on particular product categories and market segments. Doing so allows the resource-poor firms to win times...

  7. 7 CFR 51.1831 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1831 Section 51.1831 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1831 Fairly firm. Fairly firm means that the...

  8. 7 CFR 51.774 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.774 Section 51.774 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.774 Fairly firm. Fairly firm means that the...

  9. 7 CFR 51.2843 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.2843 Section 51.2843 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Fairly firm. Fairly firm means that the onion may yield slightly to moderate pressure but is not...

  10. 7 CFR 51.3204 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.3204 Section 51.3204 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Bermuda-Granex-Grano Type Onions Definitions § 51.3204 Fairly firm. Fairly firm...

  11. 7 CFR 51.1167 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1167 Section 51.1167 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1167 Fairly firm. Fairly firm as...

  12. Why competitors matter for market orientation

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    2009-01-01

    and empirically tests two novel symmetric component measures of customer orientation and competitor orientation. Academicians are provided with insights with respect to the content and symmetry of component measures of the market orientation construct and their relation to firm performance. Furthermore, business......  Purpose - This paper investigates whether it is meaningful to decompose market orientation into customer orientation and competitor orientation and what possible implications this decomposition may have for researchers and business practitioners.   Design - Through a review of existing market...... - Empirical evidence reveals that, while competitor orientation is positively related to a firm's market share, a customer orientation is detrimental to a firm's return on assets for firms in less competitive environments.   Research implications and limitations - The study advocates moving beyond ‘global...

  13. 7 CFR 51.705 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.705 Section 51.705 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.705 Fairly firm. Fairly firm as applied to common oranges, means that the fruit may be slightly...

  14. 7 CFR 51.1012 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1012 Section 51.1012 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1012 Fairly firm. Fairly firm means that the fruit is...

  15. Why competitors matter for market orientation

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    2009-01-01

      Purpose - This paper investigates whether it is meaningful to decompose market orientation into customer orientation and competitor orientation and what possible implications this decomposition may have for researchers and business practitioners.   Design - Through a review of existing market...... orientation research, two of its salient dimensions, customer orientation and competitor orientation, are theoretically investigated. Then, two symmetric component measures are developed and tested on 308 manufacturing firms in a cross-sectional questionnaire survey, supplemented with census data.   Findings...... - Empirical evidence reveals that, while competitor orientation is positively related to a firm's market share, a customer orientation is detrimental to a firm's return on assets for firms in less competitive environments.   Research implications and limitations - The study advocates moving beyond ‘global...

  16. Wage policy of medium and large Portuguese firms

    OpenAIRE

    Suleman, F.; Lagoa, S.; Suleman, A.; Pereira, M. L.

    2013-01-01

    The research on wage policies has been triggered by the interest in identifying whether labour market or institutional forces shape wage settings inside firms. This article draws on linked employer-employee data and uses a fuzzy c-means clustering analysis to identify the typical wage policies of medium and large firms in Portugal. Empirical evidence suggests firms are segmented into four clusters that can be labelled according to wage rules as regulated, asymmetric, hierarchical and discreti...

  17. The Role of Firm Ownership on Internationalization

    DEFF Research Database (Denmark)

    Hobdari, Bersant; Gregoric, Aleksandra; Sinani, Evis

    2011-01-01

    This paper investigates how different types of owners influence the extent of firm internationalization, measured by the share of firm exports in total sales. The results of the analysis carried out using firm level data of Estonian and Slovenian firms, show that the firms under the control...... in internationalization process. Finally, high market share also leads to increased internationalization through exports as firms seek to expand in foreign markets after having dominated the domestic ones....

  18. Improving Marketing's Contribution to New Product Development

    NARCIS (Netherlands)

    Drechsler, Wenzel; Natter, Martin; Leeflang, Peter S. H.

    In many firms, the marketing department plays a minor role in new product development (NPD). However, recent research demonstrates that marketing capabilities more strongly influence firm performance than other areas such as research and development. This finding underscores the importance of

  19. Evolutionary technology adoption in an oligopoly market with forward-looking firms

    Science.gov (United States)

    Lamantia, F.; Radi, D.

    2018-05-01

    In this paper, we propose an evolutionary oligopoly game of technology adoption in a market with isoelastic demand and two possible (linear) production technologies. While one technology is characterized by lower marginal costs, the magnitude of fixed costs entails that a technology does not necessarily dominate the other. Firms are forward-looking as they assess the profitability of employing either technology according to the corresponding expected profits. The dynamics of the system is studied through a piecewise-smooth map, for which we present a local stability analysis of equilibria and show the occurrence of smooth and border collision bifurcations. Global analysis of the model is also presented to show the coexistence of attractors and its economic significance. This investigation reveals that firms can fail to learn to adopt the more efficient technology.

  20. Marketing Ignorance and the Validity of Narver and Slater's MKTOR Scale in High-Tech Russian Firms

    NARCIS (Netherlands)

    Roersen, Mariska J.; Kraaijenbrink, Jeroen; Groen, Aard J.

    A firm's market orientation is an important factor influencing its ability to successfully develop and introduce new products. To measure market orientation, Narver and Slater's MKTOR scale has been accepted in the literature as a valid and reliable scale. In fact, it can be considered state of the

  1. Marketing ignorance and the validity of Narver and Slater's MKTOR scale in high-tech Russian firms

    NARCIS (Netherlands)

    Roersen, Mariska; Kraaijenbrink, Jeroen; Groen, Arend J.

    2013-01-01

    A firm's market orientation is an important factor influencing its ability to successfully develop and introduce new products. To measure market orientation, Narver and Slater's MKTOR scale has been accepted in the literature as a valid and reliable scale. In fact, it can be considered state of the

  2. 7 CFR 51.643 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.643 Section 51.643 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.643 Fairly firm. Fairly firm means that the fruit may be slightly soft, but not bruised, and...

  3. An export-marketing model for pharmaceutical firms (the case of iran).

    Science.gov (United States)

    Mohammadzadeh, Mehdi; Aryanpour, Narges

    2013-01-01

    Internationalization is a matter of committed decision-making that starts with export marketing, in which an organization tries to diagnose and use opportunities in target markets based on realistic evaluation of internal strengths and weaknesses with analysis of macro and microenvironments in order to gain presence in other countries. A developed model for export and international marketing of pharmaceutical companies is introduced. The paper reviews common theories of the internationalization process, followed by examining different methods and models for assessing preparation for export activities and examining conceptual model based on a single case study method on a basket of seven leading domestic firms by using mainly questionares as the data gathering tool along with interviews for bias reduction. Finally, in keeping with the study objectives, the special aspects of the pharmaceutical marketing environment have been covered, revealing special dimensions of pharmaceutical marketing that have been embedded within the appropriate base model. The new model for international activities of pharmaceutical companies was refined by expert opinions extracted from result of questionnaires.

  4. An Export-Marketing Model for Pharmaceutical Firms (The Case of Iran)

    Science.gov (United States)

    Mohammadzadeh, Mehdi; Aryanpour, Narges

    2013-01-01

    Internationalization is a matter of committed decision-making that starts with export marketing, in which an organization tries to diagnose and use opportunities in target markets based on realistic evaluation of internal strengths and weaknesses with analysis of macro and microenvironments in order to gain presence in other countries. A developed model for export and international marketing of pharmaceutical companies is introduced. The paper reviews common theories of the internationalization process, followed by examining different methods and models for assessing preparation for export activities and examining conceptual model based on a single case study method on a basket of seven leading domestic firms by using mainly questionares as the data gathering tool along with interviews for bias reduction. Finally, in keeping with the study objectives, the special aspects of the pharmaceutical marketing environment have been covered, revealing special dimensions of pharmaceutical marketing that have been embedded within the appropriate base model. The new model for international activities of pharmaceutical companies was refined by expert opinions extracted from result of questionnaires. PMID:24250597

  5. COEXISTENCE OF PRIVATE FIRMS AND OPEN SOURCE FIRMS UNDER SPILLOVERS AND CONSUMER BIAS

    Directory of Open Access Journals (Sweden)

    Murat YILMAZ

    2017-12-01

    Full Text Available Open source technologies have been an important divergence from the private produc- tion, and some markets have accommodated both open source firms and private firms. We explore the conditions under which such a coexistence of both type of firms can be seen. Through a simple and tractable game theoretical model, with spillovers on the open source production and positive consumer bias for the privately produced good, we analyze the conditions for which, in the equilibrium, a private firm and an open source firm share the market. We find that for large enough consumer bias, the two types cannot coexist, however when the consumer bias is relatively low and the spillover effect is not too strong, then we get a coexistence result.

  6. RELATIONSHIP MARKETING STRATEGIES FOR SERVICE FIRMS

    Directory of Open Access Journals (Sweden)

    Claudia Ioana CIOBANU

    2016-12-01

    Full Text Available In the last two decades, relationship marketing has been a topic of interest for practitioners and researchers who analyze this area. During this period, the development of sustainable business relations represented a strategic priority. From this perspective, relationship marketing is a tool for managers who need to create new organizational structures. The implementing of relationship marketing activities is performed both inside and outside the organization. This article presents the evolution of the concept of relationship marketing in marketing theory and practice from the perspective of intensification of relations between clients and businesses and thus the requirements imposed by the new business environment.

  7. Experiences of Emerging Economy Firms

    DEFF Research Database (Denmark)

    Experiences of Emerging Economy Firms investigates the different elements of the experiences of emerging economy firms and sheds essential light on a large variety of aspects associated with their functioning in both home and host contexts. For example, firms must be able to overcome the liability...... of foreign and emerging issues when they expand their activities in various contexts, enter, exit, and re-enter overseas markets; they have to overcome institutional barriers, adapt the cultural challenges in foreign markets, undergo the impact of large multinational firms from developed economies...

  8. Firm Search for External Knowledge

    DEFF Research Database (Denmark)

    Sofka, Wolfgang; Grimpe, Christoph

    2012-01-01

    ignored the institutional context that provides or denies access to external knowledge at the country level. Combining institutional and knowledge search theory, we suggest that the market orientation of the institutional environment and the magnitude of institutional change influence when firms begin......The innovation performance of modern firms is increasingly determined by their ability to search and absorb external knowledge. However, after a certain threshold firms "oversearch" their environment and innovation performance declines. In this paper, we argue that prior literature has largely...... to experience the negative performance effects of oversearch. Based on a comprehensive sample of almost 8,000 firms from ten European countries, we find that institutions matter considerably for firms' search activity. Higher market orientation of institutions increases the effectiveness of firms' search...

  9. Endogenous Markups, Firm Productivity and International Trade:

    DEFF Research Database (Denmark)

    Bellone, Flora; Musso, Patrick; Nesta, Lionel

    ) markups are positively related to firm productivity; 3) markups are negatively related to import penetration; 4) markups are positively related to firm export intensity and markups are higher on the export market than on the domestic ones in the presence of trade barriers and/or if competitors...... on the export market are less efficient than competitors on the domestic market. We estimate micro-level price cost margins (PCMs) using firm-level data extending the techniques developed by Hall (1986, 1988) and extended by Domowitz et al. (1988) and Roeger (1995) for the French manufacturing industry from......In this paper, we test key micro-level theoretical predictions ofMelitz and Ottaviano (MO) (2008), a model of international trade with heterogenous firms and endogenous mark-ups. At the firm-level, the MO model predicts that: 1) firm markups are negatively related to domestic market size; 2...

  10. The adoption of energy efficiency enhancing technologies. Market Performance and Policy Strategies in Case of Heterogeneous Firms

    Energy Technology Data Exchange (ETDEWEB)

    Verhoef, E.; Nijkamp, P. [Department of Spatial Economics, Free University Amsterdam, Amsterdam (Netherlands)

    1997-07-01

    The adoption of energy-efficiency enhancing technologies by heterogeneous firms is analyzed. The fact that energy use does not only cause external environmental costs through pollution, but also directly affects the profitability of the firm and hence its behaviour on input and output markets is taken for granted. It is demonstrated that the consideration of such market processes may have important implications for the efficiency of environmental policies concerned with energy use. The analysis focuses in particular on the efficiency of the market-led adoption and diffusion process under various policy regimes. It is shown that the promotion of energy-efficiency enhancing technologies might have unexpected effects in that it could lead to an increase in energy use, while the use of energy taxes might actually reduce the attractiveness of energy-saving technologies. 22 refs.

  11. Foreign market entry strategies in developed and emerging economies: A case study of how the entry strategies of Norwegian oil service firms are affected by the differing institutional contexts of Australia and Brazil

    OpenAIRE

    Arnstorp, Henrik

    2013-01-01

    When firms expand to foreign markets, their entry strategies unfold. Traditionally, research on entry strategies has focused exclusively on firm- and industry-specific factors and largely ignored the context constituted by the institutions of the host country. The institutional context determines the ?rules of the game? in any market, and includes both formal institutions such as laws and regulations and informal institutions such as norms and culture. With the increasing relevance of emergin...

  12. Commercialization of Innovations and Firm Performance

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Smith, Valdemar

    The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...... in innovation and marketing making R&D and marketing complements in their investment decision. However, there is only week evidence for the hypothesis that commercialization of innovations also creates more value for the firms in the short run....

  13. THE PROCESS OF INTERNATIONALIZATION OF BRAZILIAN FIRMS: STUDY WITH FRANCHISORS

    Directory of Open Access Journals (Sweden)

    Daniela Motta Romeiro Khauaja

    2012-01-01

    Full Text Available The purpose of this study is to analyze the process of internationalization of Brazilian firms, including the motivations for the internationalization, the modes of entry and the difficulties faced during this process. This research is relevant due to the importance of international management for Brazilian firms at the current global scenario. Firstly, it was developed a theoretical basis and, afterwards, an empirical qualitative and exploratory research was carried out. The data were collected from in depth interviews with the representatives of ten Brazilian franchisors that became international, which are associated to the Brazilian Association of Franchising (ABF, who gave support to the research. The analytical procedure adopted was the content analysis. Franchising was chosen because Brazil is one of the most developed countries in this field and franchising is recognized as an important booster of the globalization process. The interviews were conducted with either the owner of the firm or the marketing or international executive officers. The results of the empirical research show that, although Brazilian firms are late movers, the firms analyzed do not seem handicapped in terms of managerial capacity or technological competences. It is clear, nevertheless, that they are late movers because they have a huge internal market to explore. Adopting a global vision is very important, even if they prefer a gradual approach towards internationalization.

  14. The effect of corporate culture on firm performance: Evidence from China

    OpenAIRE

    Hailin Zhao; Haimeng Teng; Qiang Wu

    2018-01-01

    This study examines whether corporate culture promotion affects firm performance in China in terms of firm market value, firm financial performance and innovation output. We find consistent evidence that corporate culture promotion is negatively related to firm market value, positively related to innovation output and not significantly related to firm financial performance. In addition, the negative effect of corporate culture promotion on firm market value is driven by small firms and firms ...

  15. Application of integrated marketing communications in business family firms in Republic of Srpska

    Directory of Open Access Journals (Sweden)

    Perić Nenad

    2013-01-01

    Full Text Available As studies have shown, family businesses are the oldest and most common form of business organization in the world and is a key foundation of the global economy. Experience has shown that the family firm in the Republic of Srpska increasingly opt for hiring professionals for public relations or hiring agency for this work, for resolving crisis situations. The problems they face are, on the one hand, an insufficient budget for the integration of marketing communications and the management of unreason benefit from IMC. On the other hand, sometimes it's already failed separation of family business relationships. Hypotheses to be proven, are associated with insufficient support from family firms by the authorities in the Republic of Srpska, which implies limiting the growth of family firms, and insufficient investment in IMC, regardless, whether family firms have developed an export strategy. Hypothesis has been detected at levels of cognition. The first is proved for the general hypothesis, and then the collateral hypothesis. The sample of 208 family businesses in the Republic of Srpska and statistical analysis methods are descriptive analysis and chi-square test.

  16. SERVICING THE MARKET NICHE – A POSSIBLE SOLUTION FOR THE MAINTENANCE AND/OR SUCCESS OF THE FIRM ON THE MARKET IN THE CONTEXT OF THE GLOBAL ECONOMIC CRISIS

    OpenAIRE

    Doina I. POPESCU

    2013-01-01

    This work shows the importance of servicing the market niche by firms operating in the garment industry in the context of the world economic crisis. The paper presents the necessity of adapting companies’ strategies based on the main trends set out by the global economic crisis. Within this work is presented a study that aims to highlight the degree in which Romanian firms acting in the clothing industry service the market niche, their identification, the measure in which these firms’ managem...

  17. Foreign and domestic ownership, business groups, and firm performance: evidence from a large emerging market

    NARCIS (Netherlands)

    Douma, Sytse; George, Rejie; Kabir, Mohammed Rezaul

    2006-01-01

    We adopt a multi-theoretic approach to investigate a previously unexplored phenomenon in extant literature, namely the differential impact of foreign institutional and foreign corporate shareholders on the performance of emerging market firms. We show that the previously documented positive effect

  18. Organizational search and market orientation

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe; Stieglitz, Nils

    2008-01-01

      Market orientation has evolved into a key construct in the marketing and strategy literature. While much progress has been made in empirical research, the concept lacks a coherent theoretical foundation. Essentially, much prior research has pointed to the role of market-sensing capabilities...... to explain performance differentials among firms (Day, 1994). We open up the black box of market-sensing capabilities by treating the issue of choosing marketing attributes of products as a problem of organizational search. Despite much robust research on organizational search in the strategy......, with their effectiveness depending on organizational and environmental factors. We provide an elaborate outline of the multidimensional aspect of firms' responsive and proactive search processes. First, we highlight the role of organizational aspiration-levels for market orientation. We then investigate the mechanisms...

  19. Quantitative marketing research on behavior of the small and medium companies on financial advisory services

    Directory of Open Access Journals (Sweden)

    Duguleana, L.

    2013-12-01

    Full Text Available This paper presents the results of quantitative marketing research conducted among small and medium enterprises in Braşov County. The research identified organizational elements of the consumer behavior in the use of the financial advisory services. The objective is to determine whether there is association between firm size and the number of financial advice services outsourced. Results of the study will be based construction of the price policy for financial advisory firms, tailored to the financial constraints faced by small and medium enterprises in Romania.

  20. Market-oriented search in differentiated industries

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe; Stieglitz, Nils

    2009-01-01

      How is the success of a firm's market-oriented activities influenced by the marketing mix? This paper contributes to existing marketing research by advancing our understanding of the process by which market orientation transforms into superior performance. This process is investigated...... on the basis of appropriate organizational search models drawn from the behavioral theory of the firm. Specifically, we draw on the NK model to develop testable propositions that substantiate and extend prior theoretical market orientation research. Our results provide new insight into organizational...... characteristics and consequences of responsive and proactive marketing behaviors, as well as the allocation of attention towards customers and competitors....

  1. Service platforms management strategy: case study of an interior design firm

    Directory of Open Access Journals (Sweden)

    Leonel Del Rey de Melo Filho

    2015-03-01

    Full Text Available Platform management is a strategic tool for firms of various sizes, although it demands studies in the service sector. The aim of this paper is to investigate a use of platform management, designed to reach flexibility and operational dynamics in service projects. The studied platform is evaluated as a strategic resource in a particular case. The contributions of the service platform were explored from Resource-Based View (RBV and Service Marketing (SM perspectives, to study their effects on firms’ performance. The research strategy used was an exploratory case study in an interior design firm. The data collection techniques included a participant observation, document analysis and a focus group with firm managers. The research demonstrated that platform management is a strategic resource that assists with the planning of internal capabilities, market positioning, and provides better customer service.

  2. Marketing Masked Depression: Physicians, Pharmaceutical Firms, and the Redefinition of Mood Disorders in the 1960s and 1970s.

    Science.gov (United States)

    Gerber, Lucie; Gaudillière, Jean-Paul

    2016-01-01

    This article investigates the redefinition of depression that took place in the early 1970s. Well before the introduction of the third edition of the Diagnostic and Statistical Manual of Mental Disorders, this rather rare and severe psychiatric disorder hitherto treated in asylums was transformed into a widespread mild mood disorder to be handled by general practitioners. Basing itself on the archives of the Swiss firm Ciba-Geigy, the article investigates the role of the pharmaceutical industry in organizing this shift, with particular attention paid to research and scientific marketing. By analyzing the interplay between the firm, elite psychiatrists specializing in the study of depression, and general practitioners, the article argues that the collective construction of the market for first-generation antidepressants triggered two realignments: first, it bracketed etiological issues with multiple classifications in favor of a unified symptom-oriented approach to diagnosis and treatment; second, it radically weakened the differentiation between antidepressants, neuroleptics, and tranquilizers. The specific construction of masked depression shows how, in the German-speaking context, issues of ambulatory care such as recognition, classification, and treatment of atypical or mild forms of depression were reshaped to meet commercial as well as professional needs.

  3. Revisiting Office Rent Determinants : Development of the Istanbul Office Market in the Last Decade from Perspective of Real Estate Brokerage Firms

    OpenAIRE

    Dilek Pekdemir

    2014-01-01

    Many studies on the office market have been conducted for the last thirty years. Especially variables which are expected to affect office rents were examined for different cities. The extent of variables was used in these studies reflecting variations in locational and/or economical conditions of the different cities.It is aimed to examine the development of the Istanbul office market in the last decade from the perspective of brokerage firms. The perception of brokerage firms on the effectiv...

  4. Consumer Networks and Firm Reputation

    DEFF Research Database (Denmark)

    Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert

    Arguing that consumers are the carriers of firms' reputations, we examine the role of consumer networks for trust in markets that suffer from moral hazard. When consumers are embedded in a network, they can exchange information with their neighbours about their private experiences with different ...... sellers. We find that such information exchange fosters firms' incentives for reputation building and, thus, enhances trust and efficiency in markets. This efficiency-enhancing effect is already achieved with a rather low level of network density......Arguing that consumers are the carriers of firms' reputations, we examine the role of consumer networks for trust in markets that suffer from moral hazard. When consumers are embedded in a network, they can exchange information with their neighbours about their private experiences with different...

  5. Entry Mode of Firms in an Emerging Economy: Evidence from Malaysia

    OpenAIRE

    Yasmeen, Kausar; Viswanathan, Kuperan

    2016-01-01

    The dynamics of the global competition patterns and world economy are encouraging construction firms to expand into emerging economies. Entry modes and its predictors have been the subjects of interest in international market strategic management research which is nonetheless lacking in the construction firms. This paper seeks to identify the entry modes preferred by construction firms in Malaysia, on whether they choose equity modes, non-equity modes or both modes for their international pro...

  6. The Firm as a Competent Team

    OpenAIRE

    Eliasson, Gunnar

    1988-01-01

    Results from empirical studies of firm behavior are synthesized into, a theory of the firm as a competent team. I demonstrate the existence of a tacit organizational competence exercising a leverage on the productivities of all other factors through selecting and allocating competent people, thus earning a monopoly rent in the capital market. The competence identified can only be fairly compensated through sharing in firm value growth in the equity market, exhibiting undervaluation of prime a...

  7. A Selection Model of Patenting Firms in Demark

    DEFF Research Database (Denmark)

    Nielsen, Anders Østergaard

    1999-01-01

    on how market structure relate to innovative activity in small open economies. The paper explores the relation between patenting activity and market structure in the Danish manufacturing industries using data from a recently developed database containing accounting information on a sample of patenting...... firms in Denmark. Market structure by concentration and firm size in manufacturing industries was found to be of opposite effects on firms patent activity. Studies on the relation between industrial innovation and market structure in the Danish manufacturing industries are few. Also, since the majority...

  8. Strategic Evolution of Chilean Wine Firms: Vertical Integration and Upgrading in Chile’s Colchagua Valley

    OpenAIRE

    Robert N. Gwynne

    2012-01-01

    This paper argues that the favourable export trajectories for Chilean wine to global markets in general and the UK market in particular are partly due to the nature of the insertion of wine producing firms into global value chains. Much of the data in this paper comes from a two-year British Academy research project (2005-07) which examined the impacts of globalization on export-oriented wine firms in Chile’s Colchagua Valley and the record of collaboration between these firms and key purchas...

  9. The Internationalization of Chinese Firms: Entry Mode Choice

    OpenAIRE

    Zhang, Xu

    2010-01-01

    Chinese firms and other emerging markets firms aim to select a favourable entry mode to start or expand their international business, thus this is significant issue for research. This study demonstrates that the Chinese firms’ choice of entry mode is determined by internal-factors, external-factors and transaction cost factors. This is illustrated through the investigation of a case study of the Haier Group’s choice of entry mode and internationalization. Therefore, four processes of choice o...

  10. International Trade and Macroeconomic Dynamics with Heteroegenous Firms

    OpenAIRE

    Ghironi, Fabio; Melitz, Marc J

    2004-01-01

    We develop a stochastic, general equilibrium, two-country model of trade and macroeconomic dynamics. Productivity differs across individual, monopolistically competitive firms in each country. Firms face a sunk entry cost in the domestic market and both fixed and per-unit export costs. Only relatively more productive firms export. Exogenous shocks to aggregate productivity and entry or trade costs induce firms to enter and exit both their domestic and export markets, thus altering the composi...

  11. Sustainability Reporting and Firm Value: Evidence from Singapore-Listed Companies

    Directory of Open Access Journals (Sweden)

    Lawrence Loh

    2017-11-01

    Full Text Available As sustainability reporting has emerged as one of the most critical issues in the business world, this research aims to investigate the relationship between sustainability reporting and firm value based on listed companies in Singapore. We use an established sustainability reporting assessment framework and test how both the adoption and quality of sustainability reporting are related to a firm’s market value. Empirical results suggest that sustainability reporting is positively related to firm’s market value and this relationship is independent of sector or firm status such as government-linked companies and family businesses.

  12. Resource specialization, customer orientation, and firm performance: an empirical investigation of valuable resources

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    2011-01-01

    This study contributes to the strategic marketing research by empirically investigating the role of customer orientation in explaining how firms leverage their specialized but vulnerable resources. The aim is thus to explore a subset of the means by which resources become valuable to the firm...... – the first criterion for a strategic resource. Hypotheses are developed and tested using CEO questionnaire responses from a sample of manufacturing firms and census accounting data. The results show that there is a strong link between industry-specific resources and return on assets for firms with high...... levels of customer orientation. We also report that firm-specific resources are unrelated to firm performance and that a customer orientation – investigated in isolation, may be detrimental to firm performance. Research and managerial implications are discussed....

  13. Pushing Firm Boundaries through Research and Open Innovation

    DEFF Research Database (Denmark)

    Borup Lynggaard, Aviaja

    2011-01-01

    In this paper we will exemplify open innovation through a university-industry collaboration called Mobile Home Center (MHC). We will demonstrate how the model by Chesbrough can be used as a tool for mapping out a research process and furthermore illustrate what kind of outcast such project can...... provide into the company and bring forward the effect it has inside a company when performing open innovation together with research partners. We seek to bring forward how performing university-research collaboration can also change the practices inside a company and thus push the firm boundaries in new...... directions. Rather than looking at the firm as something static we will demonstrate how Chesbrough’s model on Open Innovation can be used to illustrate the dynamics of a company’s boundaries through Open Innovation....

  14. Labour flows in a simulation model of the firm

    OpenAIRE

    Butter, F.A.G. den; Gameren, E. van

    1998-01-01

    A hierarchical model is calibrated and used to illustrate labour market flows within a firm. The model establishes a link between the models of the firm from the literature on industrial organisation and the description of labour market dynamics in the flow approach to labour markets. It describes the decision of the personnel management of the firm whether to fire workers, and/or whether to hire workers from the internal or external labour market. The decision is based on firing costs, hirin...

  15. Market Power in Laboratory Emission Permit Markets

    International Nuclear Information System (INIS)

    Godby, R.

    2002-01-01

    Many proposals suggesting the use of markets to control pollution assume markets will be competitive. When markets do not exhibit competitive characteristics, however, should they still be expected to result in efficiency improvement relative to traditional approaches? This paper employs experimental economic methods to examine the effect of market structure on the use of marketable emissions permits. Results indicate that in a market with one dominant firm and a number of fringe firms, strategic manipulation occurs repeatedly in the laboratory as predicted by market power models, undermining the allocative and dynamic efficiency benefits such markets offer. When firms compete in a downstream product market dominated by the same single firm, market efficiency can actually be reduced with the implementation of permit markets. Final market efficiencies reflect initial endowments and are influenced by competitive conditions elsewhere in the economy, indicating that policy-makers should carefully consider whether markets are appropriate in such circumstances

  16. THE THEORY OF THE FIRM AND THE EVOLUTIONARY GAMES

    Directory of Open Access Journals (Sweden)

    Sirghi Nicoleta

    2013-07-01

    Full Text Available The neoclassical theory of the firm deals with the pattern of perfect competition, within which the perfect information available to economic agents provides instant allocation of production factors and access to economic goods. The Austrian School (C. Menger, L. von Mises, Hayek, etc. supported the idea of minimal state intervention on the markets, bringing important conceptual developments on the theory of the firm. Hirschleifer (1982 put forward the model of social and institutional functioning, arguing that the game theory is able to predict the outcome of the collective behavior and the human characteristics necessary for building the respective institutions.The evolutionary theory provides the firm and the entrepreneur the recognition of the functions of innovation, of generating and exploiting information and of organizing and coordinating production. The evolutionary perspective of the firm assumes the existence of a body of knowledge that is acquired through and builds up the organizational memory, subsequently found in routines, all choices being made based on these routines (Nelson and Winter, 2002. The evolution of the firm is considered to be similar to natural selection, but unlike the classic market selection, the evolutionists suggest the existence of a plurality of selection media. The present research is structured as follows: a brief introduction into the theories of the firm, the second part of the paper analyzes the theories of the firm from an institutional, neo-institutional and evolutionary perspective. In the third part of the paper the evolutionary games are described and analyzed from the evolutionary perspective of the firm. The last part of the paper represents a study of the “hawk-dove” game dynamic replicator. The final conclusions of the paper show that the evolutionary theory brings valuable contributions to the foundation of explanations regarding economic phenomena, indicating new directions for advanced

  17. Four Essays on Technology Licensing and Firm Innovation

    DEFF Research Database (Denmark)

    Moreira, Solon

    &D strategies. On the supply side, the existing literature has been focused on understanding how technology licensing can be used by firms as a mechanism to recover investments in innovative activities and to foster learning opportunities. On the demand side, it has been shown that licensing is an important...... source that firms can tap into to feed their internal needs for innovative knowledge. While several studies have examined technology licensing through the lens of the licensor, research on how firms rely on licensing contracts to acquire knowledge and improve their innovation performance still leaves......Licensing contracts represent one of the most widely used mechanisms to exchange technologies and transfer know-how between firms. Due to the opportunities that licensing creates for firms operating on both sides of the markets for technology, it has increasingly become an integral part of firms’ R...

  18. Education Needs of California Firms for Trade in Pacific Rim Markets. Commission Report 88-43.

    Science.gov (United States)

    California State Postsecondary Education Commission, Sacramento.

    An exploratory survey of firms concerning their need for specialists for pursuing trade in Pacific Rim markets is reported. The industries surveyed include food and agriculture, sportswear and sports equipment, and applied electronics. After an introductory section explaining the origins and development of the survey, the report presents the major…

  19. Web traffic and firm performance

    DEFF Research Database (Denmark)

    Farooq, Omar; Aguenaou, Samir

    2013-01-01

    Does the traffic generated by websites of firms signal anything to stock market participants? Does higher web-traffic translate into availability of more information and therefore lower agency problems? And if answers to above questions are in affirmative, does higher web-traffic traffic translate...... into better firm performance? This paper aims to answer these questions by documenting a positive relationship between the extent of web-traffic and firm performance in the MENA region during the 2010. We argue that higher web-traffic lowers the agency problems in firms by disseminating more information...... to stock market participants. Consequently, lower agency problems translate into better performance. Furthermore, we also show that agency reducing role of web-traffic is more pronounced in regimes where information environment is already bad. For example, our results show stronger impact of web...

  20. The role of digital channels in industrial marketing communications

    OpenAIRE

    Karjaluoto, Heikki; Mustonen, Nora; Ulkuniemi, Pauliina

    2015-01-01

    Purpose – The purpose of this research is to investigate industrial marketing communications tools and the role of digital channels. The research draws from the literature on industrial marketing communications to examine its goals and intended utilization in industrial firms. Design/methodology/approach – An empirical multiple case study conducted among six industrial firms examines the current state of digital marketing communications (DMC). Findings – The study gleans thre...

  1. Dual structures for the sole-proprietorship firm

    OpenAIRE

    Chambers, Robert G.; Quiggin, John

    2003-01-01

    This paper presents a dual representation of firm-level and market-level equilibrium behavior for a sole proprietorship economy with competitive and frictionless financial markets and stochastic production opportunities in a two-period setting. The dual equilibrium model is used to state conditions for the firms' production choices to be independent of their risk preferences in equilibrium. These conditions entail Pareto optimality, but do not require either that the firm's consumption choice...

  2. Value of the Company and Marketing Metrics

    Directory of Open Access Journals (Sweden)

    André Luiz Ramos

    2013-12-01

    Full Text Available Thinking marketing strategies from a resource-based perspective (Barney, 1991, proposing assets as either tangible, organizational and human, and from Constantin and Luch’s vision (1994, where strategic resources can be tanbigle or intangible, internal or external to the firm, raises a research approach on Marketing and Finance. According to Srivastava, Shervani and Fahey (1998 there are 3 market assets types, which generate firm value. Firm value can be measured by discounted cashflow, compromising marketing activities with value generation forcasts (Anderson, 1982; Day, Fahey, 1988; Doyle, 2000; Rust et al., 2004a. The economic value of marketing strategies and marketing metrics are calling strategy researchers’ and marketing managers’ attention, making clear the need for building a bridge able to articulate marketing and finance form a strategic perspective. This article proposes an analytical framework based on different scientific approaches envolving risk and return promoted by marketing strategies and points out advances concerning both methodological approaches and marketing strategies and its impact on firm metrics and value, usgin Srinivasan and Hanssens (2009 as a start point.

  3. Firm age, business cycles and aggregate labor market dynamics

    OpenAIRE

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative relationship between a firm's size and its growth rate vanishes once its age is taken into account. I extend these findings by showing that, compared to old firms, employment growth in young firms is more vo...

  4. Founder Control, Ownership Structure and Firm Value: Evidence from Entrepreneurial Listed Firms in China

    Directory of Open Access Journals (Sweden)

    Lijun Xia

    2008-06-01

    Full Text Available In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC” in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by their incentives to improve firm efficiency. This study uses 229 listed firms ultimately controlled by individuals or families (hereafter “entrepreneurial firms” for 2004 in China, to investigate the effect of DVC on firm value and to determine whether it is different between founder and non-founder controlled firms. We find that DVC has a positive effect on firm value for founder controlled firms. This result implies that investors believe that their interests are better protected by founder controlled firms than by non-founder controlled firms.

  5. Pushing Firm Boundaries through Research and Open Innovation

    DEFF Research Database (Denmark)

    Borup Lynggaard, Aviaja

    2011-01-01

    provide into the company and bring forward the effect it has inside a company when performing open innovation together with research partners. We seek to bring forward how performing university-research collaboration can also change the practices inside a company and thus push the firm boundaries in new...

  6. Marketing innovation: a consequence of competitiveness

    OpenAIRE

    Gupta, Suraksha; Malhotra, Naresh K.; Czinkota, Michael; Foroudi, Pantea

    2016-01-01

    This research uses complexity theory to probe the relationship between competiveness and innovation in the marketing practices of large manufacturing firms that offer their branded products in a foreign market by engaging a network of local small-and medium-sized enterprises (SMEs) as resellers of their brand. A deductive, quantitative research approach was employed and data was collected over a nine-month period from resellers of international IT firms in India using a questionnaire. A struc...

  7. Strategic Evolution of Chilean Wine Firms: Vertical Integration and Upgrading in Chile’s Colchagua Valley

    Directory of Open Access Journals (Sweden)

    Robert N. Gwynne

    2012-01-01

    Full Text Available This paper argues that the favourable export trajectories for Chilean wine to global markets in general and the UK market in particular are partly due to the nature of the insertion of wine producing firms into global value chains. Much of the data in this paper comes from a two-year British Academy research project (2005-07 which examined the impacts of globalization on export-oriented wine firms in Chile’s Colchagua Valley and the record of collaboration between these firms and key purchasing companies within the UK market. The paper examines the political economy of value chains in agro-industry, retail concentration in core economy markets and the relevance of convention theory to value chains in the wine sector. The paper then analyses how value chains give context to the nature of upgrading within the Chilean wine sector by focusing on: the strategic example of the lead firm; firm upgrading as a response to the demands of and knowledge flows from retailers; and firm upgrading through the flying winemaker model. The paper will conclude by assessing the relevance of the Chilean experience for other countries wishing to rapidly expand their wine exports, such as those in S. E. Europe.

  8. Broadening the concept of marketing.

    Science.gov (United States)

    Kotler, P; Levy, S J

    1969-01-01

    Marketing in business is the task of finding and stimulating buyers for a firms's output. Product development, pricing, distribution, and communication are the mainstays of marketing, while progressive firms also develop new products and chart the trends and changes in people's needs and desires. Marketing can either apply its knowledge to social problems and organizations or remain in a narrowly defined business activity. Every organization has basically the same functions: personnel management, production, income, and promotion, which are using modern marketing skills in commercial sectors. Suppliers and consumers are needed by all organizations. In Canada a group wished to promote an antismoking campaign but they had little money compared to the tobacco companies. This group used modern marketing techniques to combat their lack of funds and found many ways, e.g., books, articles. A business firm uses a multitude of marketing tools to sell its product. Nonbusiness organizations frequently do not integrate their programs the way the businesses place all activities under one marketing vice president and department. Astute marketing depends on continuous feedback from consumers and suppliers. They are dependent upon up-to-the-minute research that tells them about changes in the environment and moves of competitors. Nonbusiness organizations are often casual about the research upon which they base their vital decisions.

  9. Strategic Orientation in the Globalization of Software Firms

    Science.gov (United States)

    Dedrick, Jason; Kraemer, Kenneth L.; Carmel, Erran; Dunkle, Debora

    In the search for profits, software firms are globalizing their development activities. Some firms achieve greater profits by becoming more efficient, whereas others do so by reaching new markets; some do both. This paper creates an a priori typology of strategies based on the extent to which firms are focused on operational improvement or market access, have a dual focus or are unfocused. We find that firms with these strategies differ in degree of internationalization, organization of offshoring and performance outcomes related to offshoring. Market-oriented firms receive a greater proportion of their total revenue from sales outside the U.S., showing a greater international orientation. They keep more of their offshore development in-house via captive operations. They also are most likely to report increased non-U.S. sales as a result of offshoring. On the other hand, operations-oriented firms have lower levels of international sales, are more likely to go offshore via outsourced software development, and achieve greater costs savings and labor force flexibility as a result of offshoring. Operations-oriented firms also face more obstacles in offshoring, perhaps because of their reliance on outsourcing. Dual focus firms generally achieve some of the best of both strategies, whereas unfocused firms achieve lower cost benefits.

  10. Upgrading of smallholder agro-food production in Africa: the role of lead firm strategies and new markets

    DEFF Research Database (Denmark)

    Fold, Niels; Larsen, Marianne Nylandsted

    2011-01-01

    of the co-existing collaboration and intensified rivalry between lead firms within the same chain. The other is caused by new opportunities and challenges stemming from increased requirements on retailer-driven markets in the North and expansion of new markets in the South. The paper points out the need...... to rectify the heavily biased policy focus on standard compliance with the purpose of strengthening smallholder incorporation and upgrading in retailer-driven strands of global value chains ending in the North. Instead, markets in the South and in emerging economies may function as a training ground...

  11. THE OEM - OBM DEBATE: FACTORS INFLUENCING CHIN ESE FIRMS' BRANDING DECISIONS IN THEIR INTERNATIONALISATION PROCESS

    Directory of Open Access Journals (Sweden)

    Ian Wilson

    2013-11-01

    Full Text Available A key international marketing decision for many Chinese (and firms from other emerging markets is whether to internationalise their own brands-labelled by the Chinese as OBM (Original or Own Brand Manufacturing-or to be international players by acting as contract manufacturers(labelled by the Chinese as OEM (Original Equipment Manufacturing for foreign brand owners(FBOs. The paper discusses some of the extant research on the advantages and disadvantages of each business model and then focuses on primary research conducted amongst 8 Chinese firms in electronics and textiles and the OEM-OBM decisions they face. In so doing, it discusses some of thefactors influencing such decisions and proposes a framework for reviewing them as firm and environmental circumstances change.

  12. WHAT DETERMINES THE CAPITAL STRUCTURE OF LISTED FIRMS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Floriniţa Duca

    2012-10-01

    Full Text Available This paper examines the relative importance of four factors in the capital structure decisions of Romanian listed firms. The existing empirical research on capital structure has been largely confined to developed countries. The Romanian Financial Market has been developing at an exponential rate and dedicated research in the field is required. We used 100 firms listed in 2010 at the Bucharest Stock Exchange. The objective of this paper is to build on previous studies model all the important factors affecting capital structure decisions. We find that factors such as tangibility of assets, firm size, liquidity, and profitability have significant influences on the leverage structure chosen by firms.These results are believed to have significant implications for the theory of finance and to be of importance to the corporate treasure in choice of new financing and to the financial analyst.

  13. Internationalization's effect on marketing learning: a study of Syrian firms

    OpenAIRE

    Ibeh, Kevin; Kasem, L.

    2014-01-01

    The aim of the present study is to understand the effects of international expansion on firms’ acquisition of marketing learning. This study’s focus on marketing learning complements previous research on the impact of internationalization on the development of foreign-market and technological knowledge. The research finds that the scope of a firm’s international activities, perception of gaps in marketing knowledge, and external social capital positively influence firms’ acquisition of market...

  14. Market power behaviour in the danish food marketing chain

    DEFF Research Database (Denmark)

    Jensen, Jørgen Dejgård

    2009-01-01

    The paper presents and demonstrates an econometric approach to analysing food industry firms' market pricing behaviour within the framework of translog cost functions and based on firm-level accounts panel data. The study identifies effects that can be interpreted as firms' market power behaviour...... in output or input markets. The most robust indications of market power behaviour in output markets are found in the pork and poultry processing sectors, as well as for firms in the bakeries sector. On the other hand, the most robust market power behaviour indications regarding input markets are found...... for poultry processing. In general, the patterns with regard to market power behaviour seem to be more clearly identified in the processing sectors than in the distribution sectors....

  15. R&D status and the performance of domestic firms in China's coal mining industry

    International Nuclear Information System (INIS)

    Sun, Sizhong; Anwar, Sajid

    2015-01-01

    Coal use accounts for a very large proportion of electricity production in China. Using a recently developed coarsened exact matching (CEM) technique, this paper examines the impact of research and development (R&D) activities on the performance of firms in China's coal mining industry. Our empirical results reveal that firms in China's coal industry that conduct R&D are more productive and their sales are higher. However, as far as the firm profitability and market shares are concerned, whether or not a firm in China's coal industry conducts R&D makes no difference. We find that foreign direct investment in China's coal mining industry leads to a significant decrease in the market share of domestic firms and its impact on productivity, sales and profitability of domestic firms is insignificant. The empirical results presented in this paper suggest that policies that encourage domestic firms in China's coal mining industries to conduct R&D can increase domestic production thereby reducing reliance on imports. Furthermore, productivity gains arising from R&D activities can also help Chinese mining firms to improve their competitive position in the international market. However, there is a need for restricting foreign direct investment in China's coal mining industry. - Highlights: • R&D status affects firm performance in China's coal mining industry. • Coal mining firms that conduct R&D are, on average, 0.2717% more productive. • Coal mining firms that conduct R&D experience an increase in sales. • Increase in foreign investment decreases the market share of coal mining firms

  16. Emerging Market Firms’ Acquisitions in Advanced Markets

    DEFF Research Database (Denmark)

    Stucchi, Tamara

    2012-01-01

    markets. These antecedents can influence emerging market firms’ capacities to absorb or exploit technological and/or marketing advantages in advanced markets. In order to be successful, emerging market firms have to undertake those upmarket acquisitions that best “fit” their antecedents. Four mutually......This study draws upon the resource-based view and the institution-based view of the firm to provide a comprehensive overview of how different resource-, institution- and industry-based antecedents affect the motivations guiding the acquisitions that emerging market firms undertake in advanced...... exclusive acquisition strategies are derived, which are then illustrated using examples of Indian firms’ acquisitions in advanced markets....

  17. The Changing Patterns of Advertising Strategy by Japanese Business Firms in the U.S. Market: Content Analysis

    OpenAIRE

    Norihiko Suzuki

    1980-01-01

    This article analyzes the changing pattern of advertisement strategy by Japanese business firms in the U.S. market. Taking the advertisement activities of four major industrial sectors that appeared in both Business Week and Newsweek during the 1965–1977 period as samples, this article has found that the Japanese advertisement strategy in the U.S. market has passed sequentially through the following four stages: (1) Nationality-Supportive, (2) Product-Attributes, (3) Challenge and Responses, ...

  18. Entry Mode Choice in Emerging Markets

    OpenAIRE

    Gundersen, Anne Kathrine Navestad

    2012-01-01

    As the mature markets of developed economies have become increasingly saturated, firms are turning their attention towards emerging markets for further enterprise growth. However, these countries often present significant challenges for foreign entrants, forcing firms to adapt their strategies to the new context. While MNEs? entry mode choice is an extensively studied field, there is a deficit in the entry mode research on SMEs, and even more so when it comes to entry into emerging markets in...

  19. Evidence of mispricing for South African listed R&D firms contributed by accounting conservatism

    Directory of Open Access Journals (Sweden)

    Tai-Lin G. Chen

    2017-02-01

    Full Text Available Purpose: The purpose of this research is to investigate the impact of capitalization of research and development on the valuation of equities for listed firms in South Africa. Design/methodology/approach: 15 years of financial data (2000 to 2014 was collected, and portfolios with similar price-to-book and market size ratios were formed to find any evidence of any post-investment excess returns and the association to the level of research and development investment. Portfolios were re-formed and annually ranked by their research and development intensity relative to sales. In addition, we looked at the changes in excess returns after adjusting the book value as a result of capitalizing R&D expenditure, to see if the distortion imposed by expensing R&D contributed to the under-valuation of firms that invest in R&D. Findings: The results indicate that firms that invest in research and development are systematically under-valued. We found no evidence of any positive association between the returns and investment levels, but rather found evidence of the glamour stock phenomenon in highly intensive research and development firms. Research limitations/implications: The sample data is limited to listed firms in South Africa, and for firms with intermittently omitted R&D on their financial report, we have assumed that such expenditure is zero for the non-disclosed period for the purpose of capitalization and amortisation. Listed firms whose main focus is on building intangible assets, are relatively few, hence our research is descriptive in nature. Practical implications: This paper highlights the commercial significance of valuing the long-term benefits of research and development. Capitalizing the development phase as afforded by the IASB lacks standardization, and as such, inconsistencies arise in the earnings reflected on companies’ financial statements. For investors though, highly intensive R&D firms should be avoided as these earn negative

  20. On the evaluation of market power and market dominance-The Nordic electricity market

    International Nuclear Information System (INIS)

    Hellmer, Stefan; Warell, Linda

    2009-01-01

    This paper studies different concentration and dominance measures using structural indexes used to initially screen the competitive situation in a market. The Nordic and Swedish electricity markets are used as the empirical cases. Market concentration issues in the Nordic electricity market in general and in Sweden in particular have been, at least in initial screenings, approached by the Herfindahl-Hirschman Index (HHI). This article uses an alternative measure to HHI, which is based on market shares of the two largest firms in the market. The results shows that only the Swedish wholesale market has a firm that can be regarded as dominant, but only during very short periods. The results from a hypothetical merger between the second and third largest company in the Swedish wholesale market shows that when the dominant position of the largest firm is reduced, by increasing the size of the second largest firm, the threshold value indicates that competition actually will increase (contradicting to the HHI).

  1. Carbon auctions, energy markets and market power: An experimental analysis

    International Nuclear Information System (INIS)

    Dormady, Noah C.

    2014-01-01

    This paper provides an experimental analysis of a simultaneous energy-emissions market under conditions of market power. The experimental design employs real-world institutional features; including stochastic demand, permit banking, inter-temporal (multi-round) dynamics, a tightening cap, and resale. The results suggest that dominant firms can utilize energy-emissions market linkages to simultaneously inflate the price of energy and suppress the price of emissions allowances. Whereas under prior market designs, regulators were concerned with dominant firms exercising their market power over the emissions market to exclude rivals and manipulate the permit market by hoarding permits; the results of this paper suggest that this strategy is less profitable to dominant firms in contemporary auction-based markets than strategic capacity withholding in the energy market and associated demand reduction in the emissions market. - Highlights: • Laboratory simulation of joint energy-emissions market. • Evaluates market power under collusion and real-world institutional features. • Dominant firms can exercise market power to inflate energy prices. • Dominant firms can exercise market power to suppress emissions prices. • Supply withholding is an implicit demand reduction in the emissions market

  2. World market of marketing research

    Directory of Open Access Journals (Sweden)

    Samuels John

    2002-01-01

    Full Text Available The value of the total world market market research in the year 2001 was US$15,890 million, a 2.8% increase on the previous year. This is the first of several articles to be published in Research World on the results from ESOMAR's latest annual study on the market research sector worldwide

  3. Gender diversity of boardrooms and firm financial performance

    Directory of Open Access Journals (Sweden)

    Perihan Iren

    2016-08-01

    Full Text Available The impact of boardroom diversity on firm financial performance has attracted growing research interest in recent years. However, due to the lack of readily available datasets for other parts of the world, most of the evidence is based on the US data. The purpose of this study is to examine the relationship between gender diversity in the boardrooms and firm financial performance in a region, where it has never been studied before. Using a sample of 60 firms listed in Abu Dhabi and Dubai Stock Exchanges, first the impact of gender diverse boards on the accounting value of the firms is analyzed. Afterwards, stock price reactions to the announcement of the gender quotas on corporate boards in the UAE are examined. The results do not show a significant impact of female directors on the firm’s both accounting and market value. However, these results should be interpreted carefully since the presence of women in leading positions might affect different aspects of the firm practices

  4. A Quantal Response Statistical Equilibrium Model of Induced Technical Change in an Interactive Factor Market: Firm-Level Evidence in the EU Economies

    Directory of Open Access Journals (Sweden)

    Jangho Yang

    2018-02-01

    Full Text Available This paper studies the pattern of technical change at the firm level by applying and extending the Quantal Response Statistical Equilibrium model (QRSE. The model assumes that a large number of cost minimizing firms decide whether to adopt a new technology based on the potential rate of cost reduction. The firm in the model is assumed to have a limited capacity to process market signals so there is a positive degree of uncertainty in adopting a new technology. The adoption decision by the firm, in turn, makes an impact on the whole market through changes in the factor-price ratio. The equilibrium distribution of the model is a unimodal probability distribution with four parameters, which is qualitatively different from the Walrasian notion of equilibrium in so far as the state of equilibrium is not a single state but a probability distribution of multiple states. This paper applies Bayesian inference to estimate the unknown parameters of the model using the firm-level data of seven advanced OECD countries over eight years and shows that the mentioned equilibrium distribution from the model can satisfactorily recover the observed pattern of technical change.

  5. Research and Development from the bottom up

    DEFF Research Database (Denmark)

    Brem, Alexander; Wolfram, P.

    2014-01-01

    and ecological context or the growing interest of developed market firms in approaches from emerging markets. Hence, the presented framework supports further research in new paradigms for research and development (R&D) in developed market firms (DMFs), particularly in relation to emerging markets. This framework...... enables scholars to compare concepts from developed and emerging markets, to address studies specifically by using consistent terms, and to advance research into the concepts according their characterization....

  6. Market integration and market concentration in horizontally differentiated industries

    OpenAIRE

    Eckel, Carsten

    2001-01-01

    This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition. We also demonstrate that whether concentration occurs or not depends on the R&D production function and on consumer preferences. This result implies that the welfare effects of market integration are ...

  7. Immigration and Firm Performance: a city-level approach

    Directory of Open Access Journals (Sweden)

    Mercedes Teruel Carrizosa

    2009-10-01

    Full Text Available This article analyses the effect of immigration flows on the growthand efficiency of manufacturing firms in Spanish cities. While most studies werefocusing on the effect immigrants have on labour markets at an aggregate level,here, we argue that the impact of immigration on firm performance should not onlybe considered in terms of the labour market, but also in terms of how city’s amenitiescan affect the performance of firms. Implementing a panel data methodology,we show that the immigrants’ increasing pressure has a positive effect on labourproductivity and wages and a negative effect on the job evolution of these manufacturingfirms. In addition, both small and new firms are more sensitive to thepressures of immigrant inflow, while foreign market oriented firms report higherproductivity levels and a less marked impact of immigration than their counterparts.We also present a set of instruments to control for endogeneity. It allows us toconfirm the effect of local immigration flows on the performance of manufacturingfirms.

  8. Evolutionary model of the growth and size of firms

    Science.gov (United States)

    Kaldasch, Joachim

    2012-07-01

    The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of the competition between products. Applying a preferential attachment mechanism for firms, the theory allows to establish the size distribution of products and firms. Also established are the growth rate and price distribution of consumer goods. Taking into account the characteristic property of human activities to occur in bursts, the model allows also an explanation of the size-variance relationship of the growth rate distribution of products and firms. Further the product life cycle, the learning (experience) curve and the market size in terms of the mean number of firms that can survive in a market are derived. The model also suggests the existence of an invariant of a market as the ratio of total profit to total revenue. The relationship between a neo-classic and an evolutionary view of a market is discussed. The comparison with empirical investigations suggests that the theory is able to describe the main stylized facts concerning the size and growth of firms.

  9. Analysis of Market Risk, Financial Leverage, and Firm Size Toward Stock Return on Non-banking Companies Listed in Lq45 Index of Idx

    OpenAIRE

    Tumewu, Ferdinand; Pangemanan, Sifrid S.; Koluku, Rini Feronica

    2015-01-01

    In the world of investment, one underlies the decision of investors is stock returns that are depend on many factors. The purpose of this study was to analyze the effect of Market Risk, Financial Leverage, and Firm Size to Stock Return. By counting these factors, investors can see the effect of stock returns are important in decision making. The research methods associative with regression analysis and classical assumption techniques that include normality, multicollinearity, heteroscedastici...

  10. A firm political grip on the market

    International Nuclear Information System (INIS)

    Bakken, Stein Arne

    2003-01-01

    In Norway, there is a strong political grip on the energy supply industry. The market is going to play a marginal role. The article deals with three scenarios for what the Norwegian energy supply might look like in 2005 as envisaged by a group of researchers in a comprehensive project carried out by ECON. The first scenario, ''The Market Place'', shows the development of the energy supply from regulation to a free market in the wake of the new Energy Act. According to this scenario, by 2005 the market should be well established as a form of control. The second scenario, ''The Norwegian Way'', shows the way of the energy supply from a free market to regulation. The third scenario is ''The Field of Force'' and shows how the energy supply develops into a strong energy industrial complex; this is the scenario that definitely has not come true. The most likely scenario to come true in ten years is probably a mixture of ''The Market Place'' and ''The Norwegian Way'' with an emphasis on the latter. The trend is clearly for increased political control

  11. Firm size and export performance: some empirical evidence

    OpenAIRE

    Owen Gabbitas; Paul Gretton

    2003-01-01

    This paper uses firm level data collected by the Australian Bureau of Statistics in its Business Longitudinal Survey to help fill the information gap about the characteristics of successful exporters. This study suggests that the main influences on export performance of Australian manufacturing firms may lie with a range of ‘firm-specific’ factors other than size or domestic market share. These potentially include: kind of activity, product design and quality, marketing expertise and the moti...

  12. Corporate Diversification, Firm Value and State Ownership in Chinese Publicly Listed Companies

    OpenAIRE

    Liu, Yang

    2015-01-01

    Corporate diversification has long been a focused and deeply developed field, defined as the process of a company expand its business into different areas. There are mainly three different types of corporate diversification: product diversification (related or unrelated) and geographic market diversification (home market or international market). Our research is concentrated on the first form of diversification. In addition, the relationship between corporate diversification and firm valu...

  13. Service-Oriented Strategies for Manufacturing Firms

    DEFF Research Database (Denmark)

    Tan, Adrian; McAloone, Tim C.; Matzen, Detlef

    2009-01-01

    This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational......, customers and partners in business planning and strategy to reap the full benefits. Finally a path to how manufacturers can make the change from product to service-orientation is traced....

  14. Positioning and Priorities of Growth Management in Construction Industrialization: Chinese Firm-Level Empirical Research

    Directory of Open Access Journals (Sweden)

    Jingxiao Zhang

    2017-06-01

    Full Text Available The purpose of this research is to quantitatively evaluate the growth phase, position, and priorities of the industrialization policy management of the construction industry at firm level. The goal is to integrate quantitative dynamics into the policy-making process for sustainable policy development in future China. This research proposes an integrated framework, including growth management model and industrial policy evaluation method, to identify the challenges of construction industrialization and policy management. The research applies the mixed system method, which includes entropy method and average score method, to analyze the growth stage and major impact indexes targeting 327 survey samples. The empirical results show that the proposed conceptual framework and policy evaluation method could effectively determine the growth position and directions of the construction industrialization. For verification purpose, the study uses the local industry data from Shaanxi Province, China. The calculation results substantiate that the construction industry is in the middle section of the third growth phase. The comparison of the results from statistical methods shows that the local construction industry still needs substantial effort in policy management to improve its sustainable industrialization level. As countermeasures, the policy priorities should concentrate on: (1 enhancing effective cooperation among universities, research institutions and enterprises; (2 improving actions towards technology transfer into productivity; and (3 encouraging market acceptance of construction industrialization. This research complements the existing literature of policy evaluation of construction industrialization. Moreover, it provides theoretical and operational steps on industry policy evaluation and growth management framework, with accurate and ample data analysis on firm-level survey. Researchers and policy makers can use this research for further

  15. Nástroje marketingového mixu ve firmě Fox interier

    OpenAIRE

    VÍTOVCOVÁ, Veronika

    2010-01-01

    The theme of my bachelor´s work is named "Tools of Marketing Mix in the Firm Fox interier". Selected firm is concerned with sale of wood. The aim of this bachelor work is to describe precisely tools of marketing used in the firm Fox interier´s branch office Kozolupy. Then pursuant to realized data recommend change or expansion of marketing tools which are currently used by the firm to from literature. In the first part of my work is processed literature review, which introduces the basic theo...

  16. Linking Entrepreneurial Orientation to Firm Performance in a Post-Socialist Market Context: the Case of Hungary

    Directory of Open Access Journals (Sweden)

    David KOVACS

    2016-12-01

    Full Text Available Entrepreneurial orientation provoked the interest of numerous scholars as well as political and administrative decision-makers. Both start-ups and already established corporate entities are increasingly persecuting new opportunities, products, and business models in order to establish superiority above their competitive environment. The tendencies evince an optimist impact of entrepreneurial orientation on business performance, namely on financial performance. Beyond the aforementioned relationship, there are impulses such as environmental and organizational factors, which are affecting the businesses. The results of this study provide evidence of the effect of entrepreneurial orientation on business performance in a post-socialist context. We test the impact of three moderators on this bivariate relationship. In contrast to the substantial body of literature for Western markets, we contribute to minimizing the considerable gap of research in post-socialist economies. Entrepreneurial orientation as an organizational behavior may affect the financial performance of businesses differently in distinct market contexts. Both, internal and external factors are crucial to identifying, analyze and monitor, to achieve superior performance and to overcome competitors. This study builds upon a stratified sampling survey of Hungarian company owners and managers from the Amadeus database. The study uses a deductive approach. For the analysis, we rely on structural equation modeling using the PLS algorithm. Our study contributes to the existing literature by means of confirming the entrepreneurial orientation to firm performance relationship for Hungary. In this context, we test the moderating effects of environmental dynamism, environmental hostility as environmental factors and firm age as an organizational factor. Environmental hostility is closely related to an unfavorable environment, deriving from rapid and radical changes in the industry, which are

  17. Offshoring and Outsourcing of R&D and Business Activities in Canadian Technology Firms

    Directory of Open Access Journals (Sweden)

    Ajax Persaud

    2013-09-01

    Full Text Available A substantial amount of empirical research has been conducted on the offshoring/outsourcing practices of U.S., European, South Korean, and Japanese technology firms. However, there is very little research evidence on the strategies of Canadian firms. This leaves a gap in the literature that we aim to fulfill by providing empirical evidence of the practice among Canadian manufacturing firms. The evidence presented is based on t he 2009Survey of Innovation and Business Strategy conducted by Statistics Canada.  This survey provides the largest and most comprehensive data in Canada on this topic.  The data suggest that only a very small proportion of Canadian manufacturing firms offshore/outsource their R&D and other business activities and only a select few countries. The primary motivations for Canadian firms to offshore/outsource their R&D and business activities are to reduce costs and to gain access to new markets. The managerial, policy, and research implications of the results are discussed.

  18. Consulting-Research Froblems with German and American Multinational Firms.

    Science.gov (United States)

    Hildebrandt, Herbert W.

    International researchers need to be aware of international problems and multinational managerial codes when they work with worldwide organizations. This paper develops the premise that consulting with German multinational companies is more complex than consulting with or researching for American firms. Discussion focuses on the following three…

  19. Capabilities, innovation, and overall performance in Brazilian export firms.

    Directory of Open Access Journals (Sweden)

    José Ednilson de Oliveira Cabral

    2015-06-01

    Full Text Available This article extends the current research on innovation by investigating the relationship between innovative capabilities and export firms’ overall performance. From the perspectives of the resource-based view (RBV and dynamic capability, we examine the differential and interactive effects of exploration and exploitation capabilities in product innovation for external markets and overall performance (direct and mediated by a new product. In addition, we test the moderating effect of market dynamism and the controlling effect of firm size on these relationships. Hence, the main contribution of this article is developing and empirically testing an original model, by combining these constructs that address new relationships, in an emerging country. This model was tested with data from 498 Brazilian export firms, distributed throughout all Brazilian manufacturing sectors, by firm size, and in states. The analysis was made with application of the structural equation modeling (SEM. As a result, we found support for the assumptions that exploitation capabilities influence product innovation and overall performance, whereas exploration capabilities and their interaction to exploitation capabilities influence overall performance, but not product innovation. Additionally, the relationship between exploitation capabilities and overall performance is mediated by product innovation. Unlike hypothesized, market dynamism does not moderate the relationship between product innovation and overall performance. Furthermore, firm size works as a controlling variable in the relationships analyzed. Regarding the implications for theory, this study contributes to grasp that exploitation capabilities influences a firm’s overall performance, both directly and indirectly (via product innovation, and highlights the various direct and mediatory effects of innovation on overall performance. These insights show the importance of considering the role of mediating and

  20. Understanding the market for geographic information: A market segmentation and characteristics analysis

    Science.gov (United States)

    Piper, William S.; Mick, Mark W.

    1994-01-01

    Findings and results from a marketing research study are presented. The report identifies market segments and the product types to satisfy demand in each. An estimate of market size is based on the specific industries in each segment. A sample of ten industries was used in the study. The scientific study covered U.S. firms only.

  1. Market design and supply security in imperfect power markets

    International Nuclear Information System (INIS)

    Schwenen, Sebastian

    2014-01-01

    Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies on capacity markets increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market instead of the energy market. - Highlights: • I model two power generating firms who compete to serve stochastic demand in a multiunit uniform price auction. • In equilibrium, blackout probabilities can arise through capacity withholding. • Capacity mechanisms decrease capacity withholding and the expected energy price. • With dominant firms, capacity mechanisms are only effective if capacity prices are non-competitive and include a mark-up for leaving the energy-only market optimum

  2. LITERATURE REVIEW ON CORPORATE GOVERNANCE - FIRM PERFORMANCE RELATIONSHIP

    Directory of Open Access Journals (Sweden)

    Pintea Mirela-Oana

    2015-07-01

    Full Text Available In the matter of corporate governance reforms, an important aspect is whether the implementation of corporate governance principles and codes has a positive impact on firm performance. The literature testing the relationship between different corporate governance mechanisms and firm performance is extensive. Over time, a lot of corporate governances mechanisms were studied in relation to firm performance and the most used are: CEO duality, board size, proportion of non- executive directors, board committees, ownership structure and concentration, managers’ compensation and incentives schemes. With time, different authors began to use more comprehensive measures for corporate governance rather than a single variable or a single governance mechanism, the so called corporate governance indexes. Regarding performance there are three main approaches to firm performance in social science research: research based on market prices, accounting ratios and total factor profitability.The most used performance measures are: Tobin’s Q, return on equity, return on asset and economic value added. In our paper, we present the studies undertaken since the 1990’s regarding the relationship between different mechanisms of corporate governance and firm performance and between corporate governance index and performance for both developed and developing countries around the world. Regarding the working tools used in this theoretical research we can mention the longitudinal method, by presenting the evolution in time of empirical studies on the research topic and the comparative method used in presenting the resulys of different studies mentioned in our paper. The results of the studies are inconclusive, some studies founded a strog positive relation, others founded a negative correlation between corporate governance and firm performance, while a third category of studies didn’t found any relationship at all. We used participative observation method by issuing

  3. Entrepreneurial marketing in the digital age: A study of the SME tourism industry

    OpenAIRE

    Jones, R.; Alford, Philip; Wolfenden, Sally

    2015-01-01

    This paper contributes to developing research enquiry relating to research at the Marketing and Entrepreneurship Interface (MEI) from the small and medium-sized firm (SME) marketing perspective. The paper presents findings emanating from a digital destinations project based on the south coast of England and a new, ongoing project on implementing digital marketing strategies in the context of small owner-managed firms. This area of research advances knowledge in several areas and is significan...

  4. Firm-level volatility and exports

    NARCIS (Netherlands)

    Vannoorenberghe, G.C.L.

    2012-01-01

    This paper shows that the share of exports in the total sales of a firm has a positive and substantial impact on the volatility of its sales. Decomposing the volatility of sales of exporters between their domestic and export markets, I show using an identification strategy based on a firm-specific

  5. Firm decisions and market responses : Three accounting essays

    NARCIS (Netherlands)

    van Amelsfoort, I.Q.H.

    2012-01-01

    Firms operate in a complex economic environment where they interact with a broad base of stakeholders. Stakeholders are interested in the economic environment of the firm and its prospects to determine the value of their claims. For this valuation a wide range of information sources is used which

  6. Research of radiation firmness of transparent melamine-formaldehyde polymers

    International Nuclear Information System (INIS)

    Lebedev, V.V.

    2007-01-01

    Radiation properties of the transparent melamine-formaldehyde polymers offered in quality polymeric basis for making of plastic scintillators are explored in this work. Plastic scintillator is composition, that consists of polymer (polymeric basis) and organic fluorescent addition. Scintillation efficiency and light output are basic properties of plastic scintillators. Firmness to influencing of ionizing radiation is important property of scintillators. From all types of scintillators the plastic are most radiation-proof. Cured melamine-formaldehyde resin and melamine-formaldehyde resin modified by different polyol modifiers was a research object. It is shown that radiation firmness for given types of polymeric material considerably depends on composition of polymer and from technology and temperature condition of its receipt. By the method IR-spectroscopy the structural changes in melamine-formaldehyde polymers under action of irradiation were explored. The maximal falling after the irradiation was marked in intensity of luminescence, which went down to 50% from an initial level. Like the coefficients of admission for all compositions got worse of a to 30-35% level from initial one. Mechanical properties went down on 20-30%. The radiation loss of mass made less than 1% for all polymers. With the increase of temperature of curing firmness rises. Thus, on the basis of the conducted researches radiation firmness for different melamine-formaldehyde polymers is determined and processes what is going on in material under action of radiation are studied. The limited doses of irradiation for each of explored polymers are determined. (authors)

  7. IMPACT OF CO-CREATION ON INNOVATION CAPABILITY AND FIRM PERFORMANCE: A STRUCTURAL EQUATION MODELING

    Directory of Open Access Journals (Sweden)

    FATEMEH HAMIDI

    Full Text Available ABSTRACT Traditional firms used to design products, evaluate marketing messages and control product distribution channels with no costumer interface. With the advancements in interaction technologies, however, users can easily make impacts on firms; the interaction between costumers and firms is now in peak condition in comparison to the past and is no longer controlled by firms. Customers are playing two roles of value creators and consumers simultaneously. We examine the role of co-creation on the influences of innovation capability and firm performance. We develop hypotheses and test them using researcher survey data. The results suggest that implement of co-creation partially mediate the effect of process innovation capability. We discuss the implications of these findings for research and practice on the depict and implement of unique value co-creation model.

  8. Energy saving industrial products in Italy (marketing research, conservation program planning)

    Energy Technology Data Exchange (ETDEWEB)

    Agostini, M.; Clo' , A.; Goldoni, G. (Bologna Univ. (Italy))

    1989-09-01

    This article gathers the essential results of research, carried out by Nomisma for ENEA (Italian Commission for Nuclear and Alternative Energy Sources) about the market and industry structure of 7 different products for energy saving, i.e. high performance boilers, cogeneration plants, thermal insulation, organic residual combustors, heat pumps, heat recovery equipment and measuring and control instruments. The singling out of the operating firms and the collection of numerous, even if incomplete, economic and technical data, permit a first evaluation of the trend of the Italian energy saving market during the period 1983-87. This will be a useful tool in order to appraise the efficiency of past policies and direct future ones.

  9. The Corporate Marketing Department

    DEFF Research Database (Denmark)

    Ritter, Thomas; Eggert, Andreas; Münkhoff, Eva

    Corporate marketing has been downsized or eliminated in many firms. At the same time, firms that still own a corporate marketing department struggle with organizing and positioning their commercial front‐end. The question arises whether firms need a corporate marketing department, and if so, how...... it can best add value to the firm. Based on a qualitative study among B2B companies, we develop a conceptual framework highlighting the various parental roles through which corporate marketing can contribute to overall firm and business unit performance. In addition, we identify five gaps that restrain...... successful outcomes of corporate marketing activities. In sum, our framework provides important insights on how to successfully organize corporate marketing activities....

  10. Plunkett's E-Commerce & Internet Business Almanac 2012 E-Commerce & Internet Business Industry Market Research, Statistics, Trends & Leading Companies

    CERN Document Server

    Plunkett, Jack W

    2012-01-01

    Market research guide to the e-commerce and Internet business-a tool for strategic planning, competitive intelligence, employment searches or financial research. Contains trends analysis, globalization, trade, statistical tables and an industry glossary. Includes our profiles of nearly 450 top e-commerce and internet industry firms, featuring addresses, phone numbers and executive names.

  11. The Verdoorn law, firm strategy and firm performance

    NARCIS (Netherlands)

    Hartigh, den E.; Langerak, F.; Zegveld, M.A.; Geenhuizen, van M.; Trzmielak, D.M.; Gibson, D.V.; Urbaniak, M.

    2009-01-01

    In many markets and firms, positive feedback effects play an important role. Positive feedback effects mean that there is a tendency for that which is ahead to get further ahead, and for that which loses advantage to lose further advantage (Arthur, 1996). Such positive feedback effects result from

  12. Markups and Firm-Level Export Status

    DEFF Research Database (Denmark)

    De Loecker, Jan; Warzynski, Frederic

    We derive an estimating equation to estimate markups using the insight of Hall (1986) and the control function approach of Olley and Pakes (1996). We rely on our method to explore the relationship between markups and export behavior using plant-level data. We find significantly higher markups when...... we control for unobserved productivity shocks. Furthermore, we find significant higher markups for exporting firms and present new evidence on markup-export status dynamics. More specifically, we find that firms' markups significantly increase (decrease) after entering (exiting) export markets. We...... see these results as a first step in opening up the productivity-export black box, and provide a potential explanation for the big measured productivity premia for firms entering export markets....

  13. Firm-specific information, analysts’ superiority and investment value

    Institute of Scientific and Technical Information of China (English)

    Lu; Li; Erjia; Yang; Tusheng; Xiao

    2014-01-01

    Using a sample of Chinese security analysts’recommendations from 2005 to2010,we examine the source of analysts’superiority and the investment value of their recommendations.Using a calendar-time portfolio approach,we find that,on average,analysts’recommendations are valuable and that analysts are better at analyzing and transferring firm-specific information than market-wide or industry-level information.In addition,we show that the investment value of recommendations increases as firm-specific information becomes more important in stock pricing.Our empirical results are useful in guiding investors and helping brokerage houses to evaluate the output of research departments.

  14. Transformation of Manufacturing Firms to Servitisation Firms

    DEFF Research Database (Denmark)

    Lin, Chih-Cheng; Ma, Zheng; Tanev, Stoyan

    2014-01-01

    It is crucial for the manufacturing SMEs to reconsider their business strategy in order to be able to launch customer-centric solutions. This ability is associated with a paradigm shift from a product-orientation to service-orientation. One of the major challenges to success in transforming...... a traditional manufacturing firm to service-oriented firms is the conspicuous lack of publications in this research stream. Applying a case study research approach, this study explores the transformation model for manufacturing SMEs to servitisation firms by adopting a network approach, and reveals...

  15. Entrepreneurial Orientation and Firm Performance – Challenges for Research and Practice

    Directory of Open Access Journals (Sweden)

    Agnieszka ŻUR

    2014-06-01

    Full Text Available The aim of the article is to critically review the body of literature exploring the  nature  and  various  contexts  of  EO-firm  performance relationship,  as  well  as identify contemporary challenges of this stream of research. The article is an overview of the most important articles of  the  last  two  decades  of  research  devoted  to  EO-  firm  performance  relationship, based on the amount of citation references providedby Ebsco scholar database. The review  focuses  on: (i  the  performance  indicators  applied  in  research,  (ii  sampling and time frame of the studies as well as (iii moderating factors of this relationship. Despite huge progress made, the review reveals important issues that have been side-lined or neglected and remain to be challenged. This paper presents four major  suggestions for a more  inclusive,  broader  stream  of  research:  (i  to  take  inspiration  from  stakeholder theory,  (ii  to  spread  the  research  of  EO-firm  performance  relationship  across different  entrepreneurship  contexts,  such  as  social,  non-profit  and  institutional, adjusting  scales  and  measures,  (iii  to  apply  a  more  dynamic  approach  to  EO-firm performance relationship, and (iv to diversify theapplied research methods. The  article  serves  to  broaden  the  scope  of  EO-firm performance relationship. The discussion presents significant potential contributions brought  to EO  domain  by  stakeholder  theory.  It  issues  a  call  to identify  and  pursue research questions that more effectively address contemporary challenges. Not only does  it  outline  issues  and  methods  worthy  of  greater  attention  in  future  study, but more importantly, leads to extending EO research beyond its current boundaries.

  16. Do Treasure Islands Create Firm Value?

    DEFF Research Database (Denmark)

    Lai, Tat-kei; Ng, Travis

    They do! Otherwise, their use would not have been so prevalent among firms. How much firm value they create, however, is still an open question. Exploiting a political event in the U.K. that suddenly raised the cost of using tax havens, we find that there was a 0.87% reduction in cumulative...... abnormal return (CAR) among the sampled firms, corresponding to about £532 million in market capitalization. The firms of stronger corporate governance registered a stronger reduction in CAR. A simple linear extrapolation suggests that the firm value contributed by tax havens can be as much as £31 billion....

  17. THE STRATEGIC RESPONSE OF SMALL AND MEDIUM-SIZED ENTERPRISE SECTOR FIRMS TO THE SINGLE EUROPEAN MARKET - A COMPARATIVE STUDY

    OpenAIRE

    BRICKAU, RALF ALEXANDER

    1994-01-01

    The creation of the post-1992 European Single Market represents a significant change in the business environment confronting firms throughout Europe. Although there is an extensive source of literature available on appropriate strategic responses to the Single Market, very few of these writings contain guidance specifically related to the situation facing small and medium- sized enterprises (SMEs). The objectives of this study are i) to determine important veu-iables which m...

  18. Implementing Firm Dynamic Capabilities Through the Concept Design Process

    DEFF Research Database (Denmark)

    Nedergaard, Nicky; Jones, Richard

    2011-01-01

    It is well understood that firms operating in highly dynamic and fluid markets need to possess strong dynamic capabilities of sensing (market trajectories), seizing (to capitalise on these trajectories), and transformation (in order to implement sustainable strategies). Less understood is how firms...... actually implement these capabilities. A conceptual model showing how managing concept design processes can help firms systematically develop dynamic capabilities and help bridge the gap between the market-oriented and resource-focused strategic perspectives is presented. By placing this model in a design......-driven innovation perspective three theoretical propositions is derived explicating both the paper’s implementation approach to dynamic capabilities as well as new ways of understanding these capabilities. Concluding remarks are made discussing both the paper’s contribution to the strategic marketing literature...

  19. True versus spurious state dependence in firm performance

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Kongsted, Hans Christian

    2008-01-01

    This paper analyzes the persistence of firms' exporting behavior in a panel of German manufacturing firms using dynamic binary choice models. We distinguish between true and spurious state dependence in exports and apply fixed effects methods that allow us to verify the robustness of our results ...... determinants. Our results, which are consistent with the findings of previous studies on firms in developing countries and in the United States, show the presence of important sunk costs in export market entry and a depreciation of knowledge and experience in export markets....

  20. True Versus Spurious State Dependence in Firm Performance

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Kongsted, Hans Christian

    This paper analyzes the persistence of firms' exporting behavior in a panel of German manufacturing firms using dynamic binary choice models. We distinguish between true and spurious state dependence in exports and apply fixed effects methods that allow us to verify the robustness of our results ...... determinants. Our results, which are consistent with the findings of previous studies on firms in developing countries and in the United States, show the presence of important sunk costs in export market entry and a depreciation of knowledge and experience in export markets...

  1. Innovation Forms and Firm Export Performance: Empirical Evidence from ECA Countries

    Directory of Open Access Journals (Sweden)

    Andrzej Cieślik

    2017-06-01

    Full Text Available Objective: The main objective of this paper is to verify empirically the relationship between various forms of innovation and export performance of firms from European and Central Asian (ECA countries. Research Design & Methods: In our empirical approach we refer to the self-selection hypothesis derived from the Melitz (2003 model which proposed the existence of a positive relationship between firm productivity and the probability of exporting. We argue that innovation activities should be regarded as a key element that can increase the level of firm productivity. We focus our analysis on four forms of innovation activities: product, process, marketing, organizational and managerial innovation. The empirical implementation of our analytical framework is based on the probit model, applied to the fifth edition of the BEEPS firm level dataset covering 2011-2014. Findings: Our empirical results indicate that the probability of exporting is positively related to both product and process innovations. The marketing and managerial innovations do not seem to affect positively export performance of firms from ECA countries. Implications & Recommendations: It is recommended to develop innovation supporting mechanisms that would target both product and process innovations rather than other forms of innovation in the ECA countries. Contribution & Value Added: The originality of this work lies in the use of the multi-country firm level dataset that allows distinguishing between various forms of innovations in the ECA countries.

  2. EVOLUTIONARY THEORY AND THE MARKET COMPETITION

    Directory of Open Access Journals (Sweden)

    SIRGHI Nicoleta

    2014-12-01

    Full Text Available Evolutionary theory study of processes that transform economy for firms, institutions, industries, employment, production, trade and growth within, through the actions of diverse agents from experience and interactions, using evolutionary methodology. Evolutionary theory analyses the unleashing of a process of technological and institutional innovation by generating and testing a diversity of ideas which discover and accumulate more survival value for the costs incurred than competing alternatives.This paper presents study the behavior of the firms on the market used the evolutionary theory.The paper is to present in full the developments that have led to the re-assessment of theories of firms starting from the criticism on Coase's theory based on the lack of testable hypotheses and on non-operative definition of transaction costs. In the literature in the field studies on firms were allotted a secondary place for a long period of time, to date the new theories of the firm hold a dominant place in the firms’ economic analysis. In an article, published in 1937, Ronald H. Coase identified the main sources of the cost of using the market mechanism. The firms theory represent a issue intensively studied in the literature in the field, regarding the survival, competitiveness and innovation of firm on the market. The research of Nelson and Winter, “An Evolutionary Theory of Economic Change” (1982 is the starting point for a modern literature in the field which considers the approach of the theory of the firm from an evolutionary perspective. Nelson and Winter have shown that the “orthodox” theory, is objectionable primarily by the fact that the hypothesis regarding profit maximization has a normative character and is not valid in any situation. Nelson and Winter reconsidered their microeconomic analysis showing that excessive attention should not be paid to market equilibrium but rather to dynamic processes resulting from irreversible

  3. Creative Destruction and Cycles in the US Capital Market: Evidence from Fortune 500 Firms

    OpenAIRE

    Chakraborty, Debojyoti; Bhattacharya, Kaushik

    2009-01-01

    The paper analyzes the relationship between creative destruction and cycles in the US capital market. Creative destruction in a year is measured by the number of new firms in the Fortune 500 list. Creative destruction is found to be positively associated with smoothed annual returns based on the Dow Jones Index (DJI), signifying that new entries in Fortune 500 tend to be more during boom than during recession years. Easier financing of innovative ideas during boom is hypothesized as a reason ...

  4. The Location Dynamics of Firms in Transitional Shanghai, 1978-2005

    Directory of Open Access Journals (Sweden)

    Bo Qin

    2012-01-01

    Full Text Available China’s economic reform started in 1978 has brought in profound changes to firms by transforming the state-owned-enterprises and by encouraging the growth of the non-state sector business. These changes have been accompanied by broader institutional changes and economic restructuring in the cities, especially in the larger ones. This paper focuses on the changing spatial distribution patterns and the underlying location factors of firms in different sectors within Shanghai, one of China’s largest and most dynamic cities. The central research question is raised as do the rapidly changing spatial patterns of corporate activities within Shanghai since the onset of China's economic reform reflect the influence of market forces? Data were collected from Shanghai Administration of Industry and Commerce. Both GIS mapping and statistics (i.e. Moran’s Index, density gradient were used to assess the spatial distribution pattern of firms in Shanghai. An empirical model derived from neo-classical location theory is employed to examine the location factors of firms in different sectors. Findings of the paper indicate that the spatial distribution and location factors of firms in Shanghai demonstrate the city’s unique urban restructuring process, which is closely related to the city’s specific economic stage and unique “transitional” characteristics. However, market forces do play an increasingly import role in firm’s location-choice behavior in Shanghai. This study contributes to the understanding of firm location dynamics in post-socialist cities.

  5. Utilizing of marketing research for marketing communication

    OpenAIRE

    Bielová, Zuzana

    2008-01-01

    The subject of bachelor's thesis "Utilizing of marketing research for marketing communication" is analyze problematic of marketing communications in sector of educational services. The aims are potential clients of education. I will try to make out import of marketing research for marketing communication of the company.

  6. Where Gibrat meets Zipf: Scale and scope of French firms

    Science.gov (United States)

    Bee, Marco; Riccaboni, Massimo; Schiavo, Stefano

    2017-09-01

    The proper characterization of the size distribution and growth of firms represents an important issue in economics and business. We use the Maximum Entropy approach to assess the plausibility of the assumption that firm size follows Lognormal or Pareto distributions, which underlies most recent works on the subject. A comprehensive dataset covering the universe of French firms allows us to draw two major conclusions. First, the Pareto hypothesis for the whole distribution should be rejected. Second, by discriminating across firms based on the number of products sold and markets served, we find that, within the class of multi-product companies active in multiple markets, the distribution converges to a Zipf's law. Conversely, Lognormal distribution is a good benchmark for small single-product firms. The size distribution of firms largely depends on firms' diversification patterns.

  7. Corporate Foresight and its Impact on Firm Performance: A Longitudinal Analysis

    DEFF Research Database (Denmark)

    Rohrbeck, René; Kum, Menes Etingue

    2018-01-01

    ’s future preparedness (FP) by assessing the need for corporate foresight (CF) and comparing it to the maturity of its CF practices. We apply a longitudinal research design in which we measure future preparedness in 2008 and its impact on firm performance in 2015. The results indicated future preparedness......Corporate foresight is applied with the expectation that it will help firms to break away from path dependency, help decision makers to define superior courses of action, and ultimately enable superior firm performance. To empirically test this assumption, we developed a model that judges a firm...... to be a powerful predictor for becoming an outperformer in the industry, for attaining superior profitability, and for gaining superior market capitalization growth. In the article, we also calculate the average bonus/discount that can be expected by sufficiently/insufficiently future-prepared firms....

  8. PENGARUH RELATIONSHIP MARKETING STRATEGY DAN KUALITAS PELAYANAN TERHADAP KEPUASAN PELANGGAN BENGKEL MOBIL TOYOTA

    Directory of Open Access Journals (Sweden)

    Marietje Carolien Nanulaitta

    2008-10-01

    Full Text Available The background of this research was customer relationship marketing and service quality of Firms have accepted that customer retention is even more profitable than customer attraction and we can observe the interest of firms in adopting relationship marketing principles and designing strategies to develop close and long-lasting relationships with the most profitable customers. The objective of the analysis of marketing activities and programs implemented in order to establish, develop, and maintain relationships with customers and the impact these activities have on the firm performance. The design of this research applies to Toyota Car Repair and the questionnaires were spreaded away to 110 respondents. The Likert-scale for the 5 point measurement which means strongly agree and 1 point is for strongly disagree. Data analysis used in this research was multiple regression. The result of this research concludes that relationship marketing strategy and service quality in car repair significantly affect to customer satisfaction. Keywords: Relationship marketing strategy, Service quality, Customer satisfaction

  9. Commercialization of Innovations and Firm Performance

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Smith, Valdemar

    The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...

  10. Does microblogging convey firm-specific information? Evidence from China

    Science.gov (United States)

    Shen, Dehua; Li, Xiao; Xue, Mei; Zhang, Wei

    2017-09-01

    This paper investigates the impact of opening microblogging account in Sina Weibo on the diffusion of firm-specific information in Chinese stock market. With the unique sample of firms opening their official accounts, the empirical results show that this newly emerged information diffusion channel, i.e., Sina Weibo, plays an important role in conveying firm-specific information to the market. Generally speaking, these empirical findings have practical implications to securities regulators who have interest in monitoring the diffused information via social media.

  11. Does Labor Diversity Affect Firm Performance?

    DEFF Research Database (Denmark)

    Pytlikova, Mariola; Pozzoli, Dario; Parrotta, Pierpaolo

    /education significantly enhances firm performance as measured by firm TFP. Conversely, diversity in demographics and ethnicity brings mixed results – both dimensions of workforce diversity have either no or negative effects on firm TFP. Hence, it seems as if the negative effects, coming from communication and integration...... costs connected to a more demographically and culturally diverse workforce, counteract the positive effects of diversity on firm TFP, coming from creativity and knowledge spillovers. However, we find that ethnic diversity is valuable for firms operating in industries characterized by above-average trade...... openness, giving support to the hypothesis that an ethnically diverse workforce provides information and access to global markets....

  12. New Approach to Remuneration Policy for Investment Firms: a Polish Capital Market Perspective

    Directory of Open Access Journals (Sweden)

    Szymon Okoń

    2012-03-01

    Full Text Available The experience of the recent financial crisis leads to reflections on the relevant mechanisms of risk reduction of an investment firms activity. Within the European Union, the Directive 2010/76/EU (CRD III has introduced new rules regarding the remuneration policy for investment firms. The main goal was to reduce the risk of investment firms’ activity. This is a prudential regulation. The purpose of this article is to evaluate, from the point of view of an investment firm, proposed by the EU legislator approach to remuneration policy aimed at reducing the risk of the operation of this type of financial institutions. The aim was to identify the key problems with which Polish investment firms may face in the future in connection with new remuneration policy rules. As far as the methodology is concerned, the author carried out in-depth and standardized interviews with the representatives of several investment firms in Poland. In addition, the method of observation has been applied. The results of the research demonstrates that the abovementioned regulations will have limited impact on reducing the risk of the activities of these financial institutions as well as their implementation will be difficult for them in practice.

  13. Empirical assessment of market power in the Alberta wholesale electricity market

    International Nuclear Information System (INIS)

    Qu, F.

    2007-01-01

    In the 1990s, many countries began to unbundle regulated electricity monopolies into generation, transmission, distribution and retail companies. Transmission and distribution services remained regulated, but generation and retail services were open for competition. Wholesale and retail electricity markets were created. This paper presented a newly developed competitiveness index specifically for the Alberta market through a simple and standard economic approach. The Alberta Electric Utilities Act came into effect in January 1996. This paper described how the Alberta wholesale electricity market works and demonstrated how to model market power in the electricity market. In this study, power generating companies in Alberta were divided into 2 groups. The first group contained the 5 largest firms called strategic firms, while the other group contained the small generating companies called non-strategic firms or the competitive fringe. In the sample years 2003 and 2004, strategic firms withheld capacity when price was above marginal cost and behaved within the range of competitive pricing. They were more likely to price competitively than to use unilateral market power prices. In addition, firms had higher price-cost margins during the off-peak season. This paper explained in detail the reason for this unusual off-peak pattern. The index to measure a firm's strategic behaviour in the Alberta electricity market was developed according to price-cost margin data where firm-behaviour effect was distinguished from the demand-elasticity effect. It was concluded that policy-makers and regulations should consider the magnitude and source of market power when designing market structure, rules and trading practices. 9 refs., 5 tabs., 2 figs

  14. Romanian Market Researches in Global Market Context

    Directory of Open Access Journals (Sweden)

    Victor Danciu

    2006-03-01

    Full Text Available Market research is a powerful industry, whose value reached 21,5 billion USD in 2004. Market studies expenses are mostly concentrated in Europe (45% and in USA (37%. The market shares of the Top 10 companies were above fifty per cent of the research market’s turnover. As a young, modest market, which is 0,84% of the global expenses value, Romania was the global leader in terms of growth, in 2004. With an asymmetric demand and a relatively concentrated offer, the Romanian research market may have a spectacular development in the future, if the obstacles for the customers and research companies are surpassed. If so, the pressures following the UE’s entry of Romania and the evolution of customers needs and expectations will speed up the growth of the market research.

  15. Romanian Market Researches in Global Market Context

    Directory of Open Access Journals (Sweden)

    Victor Danciu

    2006-05-01

    Full Text Available Market research is a powerful industry, whose value reached 21,5 billion USD in 2004. Market studies expenses are mostly concentrated in Europe (45% and in USA (37%. The market shares of the Top 10 companies were above fifty per cent of the research market’s turnover. As a young, modest market, which is 0,84% of the global expenses value, Romania was the global leader in terms of growth, in 2004. With an asymmetric demand and a relatively concentrated offer, the Romanian research market may have a spectacular development in the future, if the obstacles for the customers and research companies are surpassed. If so, the pressures following the UE’s entry of Romania and the evolution of customers needs and expectations will speed up the growth of the market research.

  16. A resource based view to small firms' sustainable competitive advantages: A case of Iranian small firms

    Directory of Open Access Journals (Sweden)

    Ali Reza Babakhan

    2012-10-01

    Full Text Available During the last decades, the importance of small firms as one of the main economical parts in each country has been proved. Considering to the resources limitation in one hand, and the competitive global market in the other hand, it is very important that firms can obtain sustainable competitive advantages (SCAs to compete with other rivals. This paper, at the first step, tries to explore the potentially SCAs of Qom's small firms by using of Structural Equation Model (SEM. Then, the real current situation of firms in using these competitive advantages has been examined. The results tell that except firms' location, other potentially SCAs do not have acceptable condition.

  17. Credit scarcity in developing countries: An empirical investigation using Brazilian firm-level data

    Directory of Open Access Journals (Sweden)

    Antônio Marcos Hoelz Pinto Ambrozio

    2017-01-01

    Full Text Available The aim of this paper is to investigate whether Brazilian manufacturing firms are credit constrained. We exploit a rich database that contains more than three thousand firms with characteristics that may affect their degree of credit constraint: size, being listed in the Brazilian stock market and level of exports-sales ratio. Our results show that all dimensions considered here may affect the sensitiveness of investment to cash flow. Large firms, stock market listed firms as well as firms with better export capacity are associated with inexistence or less credit restriction. Specifically, considering firms’ size, our results corroborate the economic theory prediction and empirical international literature. Furthermore, the influence of being listed in the stock market and export capacity is beyond any possible correlation with size. Even small and middle firms are not credit constrained when listed in the stock market or when the exports-sales ratio is higher.

  18. Firms, Technology and Trade

    OpenAIRE

    Caldera Sanchez, Aida

    2010-01-01

    This doctoral dissertation studies the effect of economic integration on the performance of firms. The ongoing process of global economic integration has been characterized by dismantling of trade barriers and openness to foreign direct investments (FDI). These changes have not only brought opportunities to firms in terms of market access and the possibility to learn about foreign technologies brought in by foreign counterparts. The new economic environment has also posed new challenges throu...

  19. MARKETING RESEARCH: A CONCEPTUAL APPROACH

    OpenAIRE

    Priya Chandra Ojha

    2017-01-01

    Objective: The requirement of consumers of goods and services are wide and variable. The firms involved in producing goods and providing services always try to fulfill the needs of various consumers and launch new products and apply innovative techniques because their main aim is to satisfy the consumer needs. The main task of marketing management is to fulfill the aspiration of the consumers. It is a human activity directed at satisfying needs and wants through exchange process. It is thus i...

  20. Market Size and Innovation: Effects of Medicare Part D on Pharmaceutical Research and Development.

    Science.gov (United States)

    Blume-Kohout, Margaret E; Sood, Neeraj

    2013-01-01

    Recent evidence suggests that Medicare Part D increased prescription drug use among seniors, and increased pharmaceutical firms' revenues from sales. Previous studies also indicate that increases in market size induce pharmaceutical innovation. This paper assesses the impact of the Medicare Part D legislation on pharmaceutical research and development (R&D), using time-series data on the number of drugs entering preclinical and clinical development by therapeutic class and phase. We find that the passage and implementation of Medicare Part D is associated with significant increases in pharmaceutical R&D for therapeutic classes with higher Medicare market share.

  1. Insurance and Information : Firms as a Commitment Device

    NARCIS (Netherlands)

    Bovenberg, A.L.; Teulings, C.N.

    2002-01-01

    We explore the role of firms in insuring risk-averse workers.As a device that allows workers to commit to the delivery of their output, the firm arises endogenously as an alternative to the spot market if workers are suciently risk averse and the firm can base incentive payments on good

  2. A Note on Market Power in an Emission Permits Market with Banking

    International Nuclear Information System (INIS)

    Liski, M.; Montero, J.P.

    2005-01-01

    In this paper, we investigate the effect of market power on equilibrium path of an emission permits market in which firms can bank current permits for use in later periods. In particular, we study the market equilibrium for a large (potentially dominant) firm and competitive fringe with rational expectations. We characterize the equilibrium solution for different permits allocations and discuss the large firms stock-holding constraints needed for credible market manipulation

  3. Second-best energy policies for heterogeneous firms

    International Nuclear Information System (INIS)

    Verhoef, E.T.; Nijkamp, P.

    1999-01-01

    This paper investigates second-best issues in the regulation of external costs of energy use by heterogeneous firms. The efficiency of regulatory energy policies depends in general on the policy incentives given for both output reduction and input substitution. The resulting endogeneity of firms' supply functions appears to lead to complicated policy rules. In contrast to earlier efforts, the analysis considers an arbitrarily large number of non-identical price-taking firms in a joint market; a large variety of possible production functions, including varying levels of economies of scale and possibilities for input substitution; and elasticities of market demand which may vary from completely elastic to completely inelastic. Two second-best instruments are considered, namely output taxes and energy-efficiency standards, and are compared to the benchmark of first-best energy taxes. The underlying market factors determining the relative efficiency of these second-best instruments, when used optimally, are identified

  4. Diversity in marketing practice

    OpenAIRE

    Torres, Ann Marie

    2009-01-01

    Theory development in marketing has received periodic debate. In the spirit of reappraisal, this thesis endeavours to explain the nature of diversity in marketing practice found among firms and the manner in which marketing practice is related to organisational performance. The specific research goals are to explore: the nature of diversity in marketing practice, as linked to strategic archetypes; whether there is evidence of order in the diversity of marketing practice that can be linked to ...

  5. Inter-firm networks : economic and sociological perspectives

    NARCIS (Netherlands)

    Westbrock, B.|info:eu-repo/dai/nl/304836273

    2010-01-01

    Inter-firm collaborations have recently been recognized as a valuable mode for the organization of economic activity, next to markets and hierarchies. This recognition is supported by empirical evidence that strategic alliances between firms facilitate the generation and dissemination of

  6. Heterogeneity in Firm Performance During Economic Crisis

    Directory of Open Access Journals (Sweden)

    Sergio Bruni

    2014-06-01

    Full Text Available What happens to firms during periods of deep economic crisis? Did different types of firms perform differently under the economic crisis? With the aid of a rich database and focusing on the literature regarding the growth of firms, this paper investigates the relative profitability performance of Italian firms during the current economic crisis, exploring those factors, which help certain firms to do relatively better even in the slowdown period. Some preliminary results show that the Italian firms that are relatively young in age, with relatively better current liquidity and more focused on domestic market have performed better than other firms. Furthermore, firms operating in high-tech and in highly concentrated sectors have enjoyed a better performance in this period.

  7. Determinants Of Dividend Policy: A Study Of Selected Listed Firms In Nigeria

    Directory of Open Access Journals (Sweden)

    Uwuigbe Olubukunola Ranti

    2013-05-01

    Full Text Available This study investigated the determinants of dividends policy in the Nigerian stock exchange market. To achieve the objectives of this study, a total of 50 listed firms in the Nigerian stock exchange market were selected and analyzed for the study using the judgmental sampling technique. Also, the corporate annual reports for the period 2006-2011 were used for the study. The paper was basically modeled to examine the effects of financial performance of firms, firm size, financial leverage and board independence on the dividend payout decisions of listed firms operating in the Nigerian stock exchange market using the regression analysis method. The study in its findings observed that there is a significant positive relationship between firms’ financial performance, size of firms and board independence on the dividend payouts decisions of listed firms in Nigeria.

  8. Fade In: Exploring The Effects of Technological Change on Consumers and Firm Revenues in Home Entertainment Markets for Film

    OpenAIRE

    Axarlian, Gabriel Pablo

    2015-01-01

    AbstractFADE IN:EXPLORING THE EFFECTS OF TECHNOLOGICAL CHANGE ON CONSUMERS AND FIRM REVENUES IN HOME ENTERTAINMENT MARKETS FOR FILM Gabriel Axarlian This dissertation is composed of three related works, two of which are similar in data and time span with the third being more independent in this respect. The three works focus on the nature of the film industry’s adaptation to changing technologies in home entertainment markets. My analysis studies the effectiveness of new strategies as well ...

  9. Pro-social Motivation beyond Firm Boundaries

    DEFF Research Database (Denmark)

    Foss, Nicolai; Milagres, Rosileia

    2014-01-01

    , contradicting the above argument. More constructively, the case of the Genolyptus network points to the importance of intensive communication, rewards that are tied to joint outcomes, knowledge-based authority and consensual decision-making as support arrangements that can build and sustain pro......An influential body of literature in macro-management research (notably, organization theory and strategic management) associates pro-social motivation solely with firm-like organizations, suggesting that such motivation cannot thrive under more market-like arrangements. We question this argument...... on theoretical, as well as empirical, grounds. As to the latter, we discuss the specific case of a network of firms in Brazil, the Genolyptus network. We argue that this particular network manifests strong pro-social motivations. This implies that pro-social motivations may thrive beyond corporate boundaries...

  10. Improving firm performance in out-of-equilibrium, deregulated markets using feedback simulation models

    International Nuclear Information System (INIS)

    Gary, S.; Larsen, E.R.

    2000-01-01

    Deregulation has reshaped the utility sector in many countries around the world. Organisations in these deregulated industries must adopt new polices which guide strategic decisions, in an uncertain and unfamiliar environment, that determine the short- and long-term fate of their companies. Traditional economic equilibrium models do not adequately address the issues facing these organisations in the shift towards deregulated market competition. Equilibrium assumptions break down in the out-of-equilibrium transition to competitive markets, and therefore different underpinning assumptions must be adopted in order to guide management in these periods. Simulation models incorporating information feedback through behavioural policies fill the void left by equilibrium models and support strategic policy analysis in out-of-equilibrium markets. As an example, we present a feedback simulation model developed to examine firm and industry level performance consequences of new generation capacity investment policies in the deregulated UK electricity sector. The model explicitly captures behavioural decision polices of boundedly rational managers and avoids equilibrium assumptions. Such models are essential to help managers evaluate the performance impact of various strategic policies in environments in which disequilibrum behaviour dominates. (Author)

  11. Bank-firm credit network in Japan: an analysis of a bipartite network.

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms.

  12. International Pricing Strategies for Born-Global Firms

    Directory of Open Access Journals (Sweden)

    Michael Neubert

    2017-10-01

    Full Text Available This paper aims to understand how born global firms develop their international pricing strategies, practices, and models. It aims to expand the study of international entrepreneurship and born global firms by including a broader and deeper range of pricing aspects than is normally found in the international entrepreneurship and pricing literature. The paper opted for a multiple case-study research design using different sources of evidence, including four in-depth interviews with CEOs of born global firms. The case-study firms were selected using a purposive selection method. The theoretical framework of Ingenbleek, Frambach & Verhallen is used. The results suggest that successful leaders act as ‘integrating forces’ on two levels: by applying a structured and disciplined price-setting process with regular reviews and by mediating between corporate financial goals and the local market reality. The results support the claim that policy makers should offer insights, training and financial support to give promising born global firms the possibility to select the most efficient international pricing models and strategies. The results are relevant for entrepreneurs to understand the importance of efficient price-modelling processes and the influence of the different price strategies and price models on financial results and sales revenues.

  13. Firm age, business cycles and aggregate labor market dynamics

    NARCIS (Netherlands)

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative

  14. INTERNATIONAL BEHAVIOUR AND PERFORMANCE BASED ROMANIAN ENTREPRENEURIAL AND TRADITIONAL FIRM CLUSTERS

    Directory of Open Access Journals (Sweden)

    FEDER Emoke - Szidonia

    2015-07-01

    Full Text Available The micro, small and medium-sized firms (SMEs present a key interest at European level due to their potential positive influence on regional, national and firm level competitiveness. At a certain moment in time, internationalisation became an expected and even unavoidable strategy in firms’ future development, growth and evolution. From theoretical perspective, an integrative complementarily approach is adopted concerning the dominant paradigm of stage models from incremental internationalisation theory and the emergent paradigm of international entrepreneurship theory. Several researcher calls for empirical testing of different theoretical frameworks and international firms. Therefore, the first aim of the quantitative study is to empirically prove, the existence of various internationalisation behaviour configuration based clusters, like sporadic and traditional international firms, born-again global and born global firms, within the framework of Romanian SMEs. Secondly, within the research framework the study propose to assess different distinguishing internationalisation behavioural characteristics and patterns for the delimited clusters, in terms of foreign market scope, internationalisation pace and rhythm, initial and current entry modes, international product portfolio and commitment. Thirdly, internationalisation cluster membership and patterns differential influence and contribution is analysed on firm level international business performance, as internationalisation degree, financial and marketing measures. The framework was tested on a transversal sample consisting of 140 Romanian internationalised SMEs. Findings are especially useful for entrepreneurs and SME managers presenting various decisional possibilities and options on internationalisation behaviours and performance. These emphasize the importance of internationalisation scope, pace, object and opportunity seeking, along with positive influence on performance, indifferent

  15. Oligopolistic concurrence and investment: application to electricity markets

    International Nuclear Information System (INIS)

    Meunier, G.

    2008-12-01

    This research aims at analysing investment strategies of firms which are in an oligopolistic situation. After a brief description of the physical characteristics of an electric system, the author describes the reforms and defines the problematic of an investment in electricity production within markets in imperfect concurrence. In a first part, the author analyses the heterogeneity (either exogenous or endogenous) and technology choices of oligopolistic firms. In case of an exogenous heterogeneity, he studies the impact of the number of firms on investment decisions. In the second part, the author examines the regulations introduced in industries in imperfect concurrence: electricity production by a public firm and interaction between emission allowance market and investment

  16. Oligopolistic Business to Business E-Market and Welfare

    OpenAIRE

    Reiko Aoki

    2001-01-01

    We examine the effect of an oligopolistic upstream electronic market on upstream and downstream prices. The analysis highlights the two sources of competition that a firm that source from an electronic market (e- market firm) face: competition with less efficient firms that source traditionally (t-market firms) and competition among e-market firms. When size of the upstream e-market is small, the first effect dominates and there is higher profits with lower upstream prices in the e-market. Wh...

  17. The Consequences of Market Orientation on Business Performance

    Directory of Open Access Journals (Sweden)

    Luminiţa Ştefania Bodea

    2016-01-01

    Full Text Available The present research aims to develop a conceptual model to test the market orientation dimensions: customer orientation, competitor orientation, interfunctional coordination, and their effects on organizational performance. The most common question found in marketing studies refers to the role assigned to the marketing concept to achieve performance. Often, companies are forced to undertake different strategic approaches to be competitive, but few companies manage to become market oriented and meet difficulties in implementing the marketing concept, because the environment in which they operate are extremely dynamic. The present empirical study utilized the results obtained by processing 121 completed questionnaires containing data from large firms that operate in Romanian. The presence of the following market orientation dimensions: customer orientation, competitor orientation and interfunctional coordination, and their consequences on organizational performance were tested using simple linear regression. The results show that the surveyed firms are market oriented and the positive consequences of this orientation dimensions on performance. The major contribution of the study is that it provides empirical proof of the effect of marketing on firm performance.

  18. Market driving behaviour in organisations: Antecedents and outcomes

    Directory of Open Access Journals (Sweden)

    Jurie Van Vuuren

    2013-05-01

    Full Text Available Previous research suggests that the market driving behaviour of firms is linked to exceptional performance. However, the elements of market driving, its antecedents and outcomes, have so far not been empirically measured. The primary objectives of this study are to identify factors that describe market driving, develop a conceptual model, and then consider influencing factors and performance indicators drawn from the entrepreneurship and marketing literature. The model has been empirically tested using a sample of managers in the South African healthcare industry. A fully structured questionnaire was used to address the objective of this study. The realised sample of n=328 was used to analyse the conceptual model applying a partial least squares path modelling approach (PLS-PM. The results revealed that market driving is a firm behaviour and is distinguished by three distinct concepts: market sensing, influencing customer preferences and alliance formation. Three out of four antecedents: strategic orientation, entrepreneurial capital and entrepreneurial behaviour, influenced market driving ability positively. The study also demonstrated that market driving behaviour positively influences firm performance and relative competitive strength

  19. Mentoring and turnover intentions in public accounting firms: a research note

    OpenAIRE

    Matthew Hall; David Smith

    2009-01-01

    Turnover in public accounting firms is a critically important issue as firms seek to retain quality accounting personnel in the face of skilled labour shortages. Mentoring is one initiative that has been suggested as a means of reducing the high costs associated with employee turnover. However, prior accounting research examining the association between mentoring and turnover intentions has produced mixed results, which may be due, at least in part, to difficulties in operationalizing the men...

  20. Agency Costs, Firm Value, and Corporate Investment

    NARCIS (Netherlands)

    M. Teixeira de Vasconcelos (Manuel)

    2012-01-01

    textabstractOften firms lack the necessary internal resources to pursue all profitable investment opportunities at their disposal. One of the most important roles of financial markets is to allocate resources from different economic agents to the firms that will better employ them, thereby enabling

  1. Market Design and Supply Security in Imperfect Power Markets

    DEFF Research Database (Denmark)

    Schwenen, Sebastian

    2014-01-01

    Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies oncapacity markets...... increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market...

  2. Internationalization of Oman Fisheries Firms After the European Union Ban

    Directory of Open Access Journals (Sweden)

    L. Zaibet

    2004-06-01

    Full Text Available This paper examines the impacts of the l998 ban on Oman fish exports to the EU markets and ensuing the internationalization of Oman fish companies. The ban raises two concerns that the paper intends to answer: (i how firms have responded to surmount the ban, and (ii which strategies are more effective in the process of internationalization. The paper distinguishes three sets of actions: during the ban and immediate actions; short term actions; and long term actions. Besides government support for the implementation of international norms of quality and safety control, firms have responded individually to the EU ban. The actions subsequently undertaken by firms in response to the ban were selected: identification of new markets (alternatives; implementation of the required regulations and needed support to continue exporting to traditional European markets (competence; and long term business and marketing strategies (strategic thinking. These actions or steps represent the internationalization process or approach followed by the fisheries firms in Oman. All these actions have been undertaken after the EU ban, which leads to the conclusion that the ban has indeed worked as a driving force to internationalize, i.e. to develop the requisites of international markets.

  3. How EPC firms can enter the nuclear renaissance

    OpenAIRE

    Locatelli, Giorgio; Mancini, Mauro

    2012-01-01

    the so called “nuclear renaissance” is creating a millionaire market for new nuclear reactors. Few firms have the capabilities to work in this complex and highly demanding market, whereas many other are investigating the option to enter. Quite surprising the international scientific literature provides information regarding the high-level governmental aspects of nuclear power programs in different countries while the analysis at firm level is almost inexistent. Moreover the usual business mod...

  4. Designing Firms to Fit the Future

    Directory of Open Access Journals (Sweden)

    Raymond E. Miles

    2012-08-01

    Full Text Available Most firms identify market opportunities for their new technologies after they have been developed. This article discusses the design of a “futures group” which can help to synchronize a firm’s technology and market development. A futures group designed to span more than one organization could lead to simultaneous market development for multiple technologies.

  5. Accounting research in family firms: Theoretical and empirical challenges

    NARCIS (Netherlands)

    Prencipe, A.; Bar-Yosef, S.; Dekker, H.C.

    2014-01-01

    Family firms play a significant role in the global economy. Consistently, over the last two decades academia has turned its attention to the family dimension as a determinant of business phenomena, and this interest has increased over time. While family business research has reached an age of

  6. Bank-Firm Credit Network in Japan: An Analysis of a Bipartite Network

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N.

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms. PMID:25933413

  7. The Financial Markets and Customer Satisfaction: Reexamining Possible Financial Market Mispricing of Customer Satisfaction

    OpenAIRE

    Robert Jacobson; Natalie Mizik

    2009-01-01

    We investigate the association between information contained in the American Customer Satisfaction Index (ACSI) metric and future stock market performance. Some past research has provided results suggesting that the financial markets misprice customer satisfaction; i.e., firms advantaged in customer satisfaction are posited to earn positive future-period abnormal stock returns. We reexamine this relationship and find that statistically significant evidence of financial market mispricing of cu...

  8. The Islamic Capital Market Response to the Real Earnings Management

    Directory of Open Access Journals (Sweden)

    Rita Yuliana

    2017-06-01

    Full Text Available This study aims to prove the effect of the company's status, i.e membership on the Islamic capital market and the status as suspect firm, as a determinant of real earnings management (REM. REM is conducted by abnormally increasing sales, increasing production and reducing discretionary costs in order to achieve a certain earnings target. This study uses Earnings Distribution Analysis (EDA technique, which refers to the Prospect Theory (Kahneman & Tversky, 1979 to identify the suspect firms. Suspect firms are companies that have small positive earnings. The samples of this research are companies listed on the Indonesia Stock Exchange in 2011 and 2012. Based on the result of regression analysis, hypothesis testing results show that the suspect firms conduct real earnings management in all three types of activities more aggressively than the non-suspect firms. Furthermore, this study also showed empirical evidence that there are differences in real earnings management actions between companies listed in the Islamic capital market compared to conventional capital markets. Then, this study also showed that the Islamic capital market is more appropriate in response to the REM than the conventional capital market.

  9. Flexible labor and innovation performance : Evidence from longitudinal firm-level data

    NARCIS (Netherlands)

    Zhou, H.; Dekker, R.; Kleinknecht, A.

    Firms with high shares of workers on fixed-term contracts tend to have higher sales of imitative new products but perform significantly worse on sales of innovative new products ("first on the market"). High functional flexibility in "insider-outsider" labor markets enhances a firm's new product

  10. Marketing performance of subsidiaries operating abroad: An integrative model

    OpenAIRE

    Falcão, Roberto Flores; Masiero, Gilmar; Campomar, Marcos

    2017-01-01

    In the internationalization process firms face challenges in order to be successful, such as enabling knowledge transfer, finding the optimum balance between standardizing/adapting their marketing strategies, determining the strength of external networks, and deciding degrees of reverse innovation. Research on knowledge transfer in multinational firms has grown considerably over the last 15 years, but still little is known about its impact on the marketing performance of subsidiaries. The maj...

  11. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intense competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... Using a very rich matched worker-firm longitudinal dataset we find that firms with high export intensities pay higher wages. However, an interaction term between export intensity and skill intensity has a positive impact on wages and it absorbs the direct effect of the export intensity. That is, we find...... an export wage premium, but it accrues to workers in firms with high skill intensities...

  12. Political uncertainty and firm risk in China

    Directory of Open Access Journals (Sweden)

    Danglun Luo

    2017-12-01

    Full Text Available The political uncertainty surrounded by the turnover of government officials has a major impact on local economies and local firms. This paper investigates the relationship between the turnover of prefecture-city officials and the inherent risk faced by local firms in China. Using data from 1999 to 2012, we find that prefecture-city official turnovers significantly increased firm risk. Our results show that the political risk was mitigated when new prefecture-city officials were well connected with their provincial leaders. In addition, the impact of political uncertainty was more pronounced for regulated firms and firms residing in provinces with low market openness.

  13. Canonical Sectors and Evolution of Firms in the US Stock Markets

    Science.gov (United States)

    Hayden, Lorien; Chachra, Ricky; Alemi, Alexander; Ginsparg, Paul; Sethna, James

    2015-03-01

    In this work, we show how unsupervised machine learning can provide a more objective and comprehensive broad-level sector decomposition of stocks. Classification of companies into sectors of the economy is important for macroeconomic analysis, and for investments into the sector-specific financial indices and exchange traded funds (ETFs). Historically, these major industrial classification systems and financial indices have been based on expert opinion and developed manually. Our method, in contrast, produces an emergent low-dimensional structure in the space of historical stock price returns. This emergent structure automatically identifies ``canonical sectors'' in the market, and assigns every stock a participation weight into these sectors. Furthermore, by analyzing data from different periods, we show how these weights for listed firms have evolved over time. This work was partially supported by NSF Grants DMR 1312160, OCI 0926550 and DGE-1144153 (LXH).

  14. Marketing. Market research, the key to success; Marketing. Erfolgsfaktor Marktforschung

    Energy Technology Data Exchange (ETDEWEB)

    Bongers, U. [VSE AG, Saarbruecken (Germany); Borch, G. [Berliner Kraft- und Licht (BEWAG)-AG, Berlin (Germany); Edelmann, H. [Vereinigte Elektrizitaetswerke Westfalen AG (VEW), Dortmund (Germany); Hermann, E. [Hamburgische Electricitaets-Werke AG, Hamburg (Germany); Nickel, M. [Vereinigung Deutscher Elektrizitaetswerke e.V. (VDEW), Frankfurt am Main (Germany)

    1999-07-01

    The brochure explains why market research has become an essential activity for the business management of electric utilities in the competitive market environment. The document gives advice on integrating information obtained from market research into the organizational planning of the marketing activities of electric utilities that are newcomers in the deregulated European energy markets. The brochure was elaborated by a working group for 'market research and organisational statistics' of the VDEW. (orig./CB) [German] Die vorliegende Broschuere stellt die neue Bedeutung der Marktforschung fuer die Informationsgewinnung und das Marketing der Stromunternehmen dar und gibt Hinweise auf die organisatorische Einbindung der Marktforschung. Sie wurde von einer Projektgruppe des VDEW-Fachausschusses 'Marktforschung und Unternehmensstatistik' erarbeitet. Die Broschuere ist vor allem fuer die Unternehmen gedacht, die ihre Marktforschung aufbauen oder ausbauen wollen. (orig./CB)

  15. High growth and rapid internationalisation of firms from emerging markets: the case of the Middle East and North Africa (MENA) Region

    OpenAIRE

    Hatem, Omaima

    2012-01-01

    The aim of this thesis is to understand the phenomena of the high growth and rapid internationalisation of firms from emerging markets. It explores the applicability of international entrepreneurship theory to the context of the emerging market enterprises in the Middle East and North Africa (MENA) region. It integrates the literature of strategic entrepreneurship and that of portfolio entrepreneurship with the literature of international entrepreneurship to provide a closer fi...

  16. Market Orientation and Sources of Knowledge to Innovate in SMEs: A Firm Level Study

    Directory of Open Access Journals (Sweden)

    Simone Regina Didonet

    2016-10-01

    Full Text Available This work examines the relationship between the three market orientation (MO components, i.e. customer orientation, competitor orientation and inter-functional coordination, and the extension to which small and medium-sized enterprises (SMEs use different sources of knowledge to innovate. Based on a sample of 181 Chilean SMEs, a confirmatory factorial analysis (CFA was performed to analyze the relationship among constructs. The results show that the extension to which SMEs use different sources of knowledge to innovate depends on the interactions between MO components. This study addresses a gap in the literature, by linking and interrelating market orientation components to the innovation perspective in SMEs. Therefore, we provide insights into the role of each MO component in influencing the extension to which firms seek for and use different sources of knowledge to innovate and attempt to explain some literature inconsistencies on the theme.

  17. Determinants of capital structure: An empirical study on Vietnamese listed firms

    Directory of Open Access Journals (Sweden)

    Le Trung Thanh

    2017-05-01

    Full Text Available This paper aims to explore the capital structure of listed Vietnamese companies in an updated context of financial development (the recent situation of domestic equity and debt capital market. By applying Random Effect model for panel data, we analyze 05 firm-specific and 01 country-specific determinants of capital structure based on the data set of 228 firms listed on Ho Chi Minh Stock Exchange during the period 2010 – 2014. The results indicated that The Pecking Order theory better explains the financing behaviors of Vietnamese listed firms. Accordingly, although in recent years, Vietnam’s equity market and corporate debt capital market have evolved considerably, the capital structure of Vietnamese companies are still dominated by the use of short-term financing sources. High-growth firms or large-sized firms still rely heavily on external debt rather than equity issuance while State-owned enterprises (SOE are reported to have positive association with the use of long-term financing sources. This study proposed some recommendations to the policymakers in two dimensions: improving the efficiency and role of capital markets to mitigate the reliance on short-term funds and ensuring that bank finance is allocated on a commercial basis.

  18. Marketing research with SPSS

    OpenAIRE

    JANSSENS, Wim; WIJNEN, Katrien; DE PELSMACKER, Patrick; VAN KENHOVE, Patrick

    2008-01-01

    In the past, there have been Marketing Research books and there have been SPSS guide books. This book combines the two, providing a step-by-step treatment of the major choices facing marketing researchers when using SPSS. The authors offer a concise approach to analysing quantitative marketing research data in practice. Whether at undergraduate or graduate level, students are often required to analyse data, in methodology and marketing research courses, in a thesis, or in project work. Althou...

  19. Integrating Sustainability into the Marketing Curriculum: Learning Activities that Facilitate Sustainable Marketing Practices

    Science.gov (United States)

    Borin, Norm; Metcalf, Lynn

    2010-01-01

    In response to political, social, and competitive forces, many firms are developing sustainable marketing strategies. Marketing educators can play an important role in assisting these firms by developing curricula that build the knowledge and skills required to enable marketing graduates to contribute to sustainable marketing efforts. Marketing…

  20. Internationalization and Performance of Retail Firms

    DEFF Research Database (Denmark)

    Assaf, A. George; Josiassen, Alexander; T. Ratchford, Brian

    2012-01-01

    retailers through facilitating the transfer of learning in international markets. The study innovates by introducing a new performance metric, and an advanced methodology to account for the dynamic aspects of organizational learning. Testing our hypotheses on a sample of international retailers, we find......This paper offers a fresh approach to the literature examining the effect of internationalization on retail-firm performance. We draw on the organizational learning theory to test the moderating effect of four variables which are hypothesized to affect the performance of internationalizing...... that the relationship between internationalization and performance is U-shaped, and moderated by mergers and acquisitions, age at entry to international markets and country of origin. The findings extend prior research by providing more comprehensive evidence regarding the conditions under which internationalization...

  1. Determinants of dividend policy: Evidence from listed firms in the African stock exchanges

    Directory of Open Access Journals (Sweden)

    Nnadi Matthias

    2013-01-01

    Full Text Available The study demonstrates that much of the existing theoretical literature on dividend policy can be applied to the emerging capital markets of Africa. Using available financial data of listed firms in the 29 stock exchanges in Africa, the study finds similarities in the determinants of dividend policy in African firms with those in most developed economies. In particular, agency costs are found to be the most dominant determinant of dividend policy among African firms. The finding is non-synonymous with emerging capital markets which have a high concentration of private ownership and trading volumes. Agency cost theory may be important in both emerging and developed capital markets but the nature of the agency problem may be different in each case. Other factors such as level of market capitalization, age and growth of firms, as well as profitability also play key roles in the dividend policy of listed African firms.

  2. Strategic marketing research

    NARCIS (Netherlands)

    Bijmolt, Tammo H.A.; Frambach, Ruud T.; Verhallen, Theo M.M.

    1996-01-01

    This article introduces the term “strategic marketing research” for the collection and analysis of data in support of strategic marketing management. In particular, strategic marketing research plays an important role in defining the market, analysis of the environment, and the formulation of

  3. Market Orientation, Innovativeness, Product Innovation, and Performance in Small Firms

    NARCIS (Netherlands)

    Verhees, F.J.H.M.; Meulenberg, M.T.G.

    2004-01-01

    Most research on market orientation, innovation and performance is related to big enterprises and small and medium-sized enterprises (SMEs). In this study a model is developed to investigate the combined effect of market orientation and innovativeness on product innovation and company performance,

  4. Market distortions and aggregate productivity: Evidence from Chinese energy enterprises

    International Nuclear Information System (INIS)

    Dai, Xiaoyong; Cheng, Liwei

    2016-01-01

    Market distortions can generate resource misallocations across heterogeneous firms and reduce aggregate productivity. This paper measures market distortions and aggregate productivity growth in China's energy sector. We use the wedge between output elasticities and factor shares in revenues to recover a measure of firm-level market distortions. Using data on a large sample of Chinese energy enterprises from 1999 to 2007, our estimations provide strong evidence of the existence of both factor and product market distortions within and across China's various energy industries. The productivity aggregation and decomposition results demonstrate that the estimated aggregate productivity growth (APG) is, on average, 2.595% points per year, of which technological change, resource reallocation, and firm entries and exits account for 1.981, 0.068, and 0.546% points, respectively. The weak contributions of resource reallocation and firm turnover to APG are also found in energy sub-industries, except in the coal industry. Our research suggests that China's energy sector has major potential for productivity gains from resource reallocation through the reduction of market distortions. - Highlights: •We estimate market distortions and productivity growth of China's energy sector. •We use a large sample of Chinese energy enterprises. •There are evidences of the existence of factor and product market distortions. •Aggregate productivity growth is largely driven by firm-level technological change. •China's energy sector can realize productivity gains from resource reallocations.

  5. Ethics and marketing research

    Directory of Open Access Journals (Sweden)

    Salai Suzana

    2006-01-01

    Full Text Available The ethics is the inner law of the individual. Its application is controlled and sacked by the self-awareness and the surrounding (by ethical codecs. The self-awareness is the inner law produced by everyday life, and is therefore changeable and adaptable to the outer reality. The ethics is a common field of marketing research, within the processes of ethical dilemmas and the marketing research process itself (identified target segments: the public the consumer, the subject ordering marketing research and marketing researchers.

  6. The theory of the firm. Vol. 3

    DEFF Research Database (Denmark)

    as an information processor. In addition, the collection features perspectives from business strategy and business history as well as methodological and doctrinal historical perspectives. Including over 60 classic papers, these volumes collect together contributions on the theory of the firm, beginning with Ronald......Firms have for a long time been part of the explanatory set-up of economics. However, it is only recently that economists have felt the need for an economic theory addressing: why firms are different; why firms exist; what determines their boundaries relative to "the market"; and what determines...... their internal organization. This collection documents the rise of the modern theory of the firm during the last two to three decades. It reprints classic writings from a diversity of perspectives, including not only contractual theories of the firm, but also knowledge-based theories and theories of the firm...

  7. International working capital practices of Ghanaian firms

    Directory of Open Access Journals (Sweden)

    J. Abor

    2005-12-01

    Full Text Available International working capital management is important to firms frequently operating in the international market. This article investigates the international working capital practices of top Ghanaian firms involved in international trade. The objective of the study is to ascertain the extent to which Ghanaian firms use international working capital management vehicles. The article focuses on two main areas of international working capital management; international cash management and international sales and accounts receivables management. The results of this study reveal low level of use of international working capital vehicles among Ghanaian firms. Recommendations are made in this regard.

  8. Developing organizational structures for international marketing

    OpenAIRE

    Ioan Cucu

    2002-01-01

    International marketing represents marketing activities performed across national boundaries. The level of involvement in international marketing can range from casual exporting to globalization of markets. Although most firms adjust their marketing mixes for differences in target markets, some firms are able to standardize their marketing efforts worldwide

  9. How should a theory of the firm incorporate advertising?

    OpenAIRE

    Lah, Marko

    2015-01-01

    This article discusses the role of advertising expenses within the economic theory of the firm. In marketing and advertising textbooks advertising expenses are, from the perspective of the economic theory of the firm, viewed too narrowly. In contrast, standard economics textbooks start with the unrealistic perfect competition firm where advertising is not needed, while for the imperfect competition firm they extend the profit maximisation motive and concentrate on the optimisation of advertis...

  10. CIMOSA process classification for business process mapping in non-manufacturing firms: A case study

    Science.gov (United States)

    Latiffianti, Effi; Siswanto, Nurhadi; Wiratno, Stefanus Eko; Saputra, Yudha Andrian

    2017-11-01

    A business process mapping is one important means to enable an enterprise to effectively manage the value chain. One of widely used approaches to classify business process for mapping purpose is Computer Integrated Manufacturing System Open Architecture (CIMOSA). CIMOSA was initially designed for Computer Integrated Manufacturing (CIM) system based enterprises. This paper aims to analyze the use of CIMOSA process classification for business process mapping in the firms that do not fall within the area of CIM. Three firms of different business area that have used CIMOSA process classification were observed: an airline firm, a marketing and trading firm for oil and gas products, and an industrial estate management firm. The result of the research has shown that CIMOSA can be used in non-manufacturing firms with some adjustment. The adjustment includes addition, reduction, or modification of some processes suggested by CIMOSA process classification as evidenced by the case studies.

  11. PATENTS, R&D, AND MARKET STRUCTURE IN THE U.S. FOOD PROCESSING INDUSTRY

    OpenAIRE

    Gopinath, Munisamy; Vasavada, Utpal

    1999-01-01

    This study investigates the effects of market structure and research and development (R&D) on the innovation activities of firms. Fixed and random effects count data models are estimated with firm-level data for the U.S. food processing industry. Results show a positive association between patents and R&D, and patents and market structure, suggesting that firms which exhibit noncompetitive behavior are likely to develop new products and processes. Significant intra-industry spillovers of know...

  12. 75 FR 2491 - Trade Adjustment Assistance for Firms Program Fiscal Year 2009 Annual Report

    Science.gov (United States)

    2010-01-15

    ... strengthen their marketing channels to more effectively reach service firms, it is expected that the number... a marketing/sales project or production/engineering project in their Adjustment Proposals, and 35... types of projects in Adjustment Proposals. More than half of all firms proposed to implement marketing...

  13. Sunk cost investments and market information

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe; Stieglitz, Nils

    2008-01-01

    This paper extends the strategic management literature on how firms' sunk cost investments and market orientation mutually shapes firm performance. Using data from 314 manufacturing firms, we decompose firms' sunk cost investments into industry-specific resources and firm-specific resources...... and investigate their effect on firm performance. Our results suggest that the salient components of a firm's market orientation - i.e. customer orientation and competitor orientation - have different effects on firms' performance as well as moderate the relationship between a firm's sunk cost investments and its...

  14. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    2006-01-01

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intence competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... Osing a very rich matched worker-firm longitudinal dataset we find that firms with high export intensities pay higher wages. However, an interaction term between export intensity and skill intensity has a positive impact on wages and it absorbs the direct effect of the export intensity. That is, we find...... an export wage premium, but it accrues to workers in firms with high skill intensities.Keywords: Exports, Wages, Human Capital, Rent Sharing, Matched Worker-Firm DataJEL Classification: J30, F10, I20...

  15. FINANCIAL REPORTING AND CORPORATE TAX AGGRESSIVENESS: IMPACT ON FIRM VALUE

    Directory of Open Access Journals (Sweden)

    Agusti R.R.

    2017-08-01

    Full Text Available This research aims to study the market response to the aggressiveness of financial reporting and tax reporting conducted by the company. Investor’s response is reflected in the market value of the company's stock. This study is an explanatory research using quantitative approach. Research’s sample is a manufacturing company listed on the Indonesian stock exchanges from 2005 to 2015. The data were analyzed using multiple regression analysis. The data show that majority of sample companies’ fall into the category of middle tax aggressiveness. Research’s findings are both aggressive financial reporting and tax aggressiveness has a negative relationship with the market value of the company. However, only aggressive financial reporting that has a significant influence on the firm value. Based on these results it is concluded that tax aggressiveness does not directly affect the market in making decisions to assess the company's stock.

  16. Does Cash Contribute to Value? A Comparison of Constrained and Unconstrained Firms in China and Germany

    Directory of Open Access Journals (Sweden)

    Wei Zhang

    2015-11-01

    Full Text Available A fundamental characteristic of emerging markets is the underdevelopment of legal institutions and financial markets. Therefore, the marginal value of a firm’s cash holdings in emerging countries can be lower than 1, due to high agency costs resulting from poor external corporate governance. However, the marginal value of cash may also be high in emerging markets because the information asymmetry between current and new providers of funds is high, which means that it is difficult to access the (low quality capital markets. We study for the industrialized countries of China and Germany whether corporate cash holdings contribute to shareholder value in both constrained and unconstrained firms. In contradiction to previous literature on emerging markets, we find that the marginal value of cash is not smaller than 1 in China, so that agency costs do not dominate. We, however, find marginal values of cash lower than 1 for unconstrained firms in both countries, implying that in these firms agency costs of cash holdings exist. For constrained firms we find marginal values significantly larger than 1 in both countries. This indicates difficulties in accessing the financial markets for these firms. These difficulties prove to be larger in China than in Germany for small and service firms, but not for high growth firms.

  17. Market research for electric utilities

    International Nuclear Information System (INIS)

    Shippee, G.

    1999-01-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to

  18. Make-or-Buy Decisions in Industry Equilibrium with Heterogeneous Firms

    DEFF Research Database (Denmark)

    Laugesen, Anders

    2015-01-01

    , and the quality of a match determines the productivity of an outsourcing relationship. Incomplete contracts imply that outsourcing relationships suffer from holdup problems and suboptimally low levels of supplier investments. These search and contractual frictions under outsourcing are balanced against higher......This paper puts forward an industry-equilibrium model with heterogeneous firms in order to analyse possible interdependencies in firms' decisions to outsource the production of intermediates to unaffiliated business partners. Outsourcing requires that firms match in the market for intermediates...... production costs under vertical integration. It is found that interactions among firms in both the final- and intermediate-goods markets affect the decision to outsource. The results also show how the prevalence of outsourcing is affected by many different changes in the industry environment...

  19. Market research for electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    Shippee, G.

    1999-12-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to.

  20. The Effects of Acquisitions on Firm Value, Evidence from Turkey

    Directory of Open Access Journals (Sweden)

    Fatma Büşra GÜNAY BENDAŞ

    2015-01-01

    Full Text Available Acquisitions are assumed to create value for both the target and the acquiring firm. This paper analyzes the sources of value creation in acquisitions and examines the domestic acquisitions that took place in Turkey in 2013. By taking the overall market considerations into account, I measure the degree of value creation over different periods of time. I use the standard market value technique to calculate abnormal returns in stock prices of the acquiring firms and find that the increase in firm value is statistically significant in the long run but not in the short run.

  1. Modern Competitive Strategy Firm

    Directory of Open Access Journals (Sweden)

    František Bartes

    2010-01-01

    Full Text Available The article deals with problems of an ever increasing number of cases of successful application of old combat strategies in business practice. Nevertheless, the author refuses the so called “direct conflict“ of firms, when it is really fought for victory on the market. His approach is based on the philosophy of “victory without fight“, in other words – of achieving the aim without direct conflict with the rival firm.In the end he comes to the conclusion that combat philosophies are more and more often incorporated into classical approach of strategic firm control and become the integral part of philosophy of management. At the close happens to opinion that the one from basic factors absolutely necessary to creation such strategy at company, is necessary present so-called „creative intelligence“.

  2. Do Treasure Islands Create Firm Value?

    DEFF Research Database (Denmark)

    Choy, Siu Kai; Lai, Tat-kei

    On October 11, 2011, a non-governmental organization called ActionAid published a report condemning the FTSE 100 firms for holding an unusually large number of subsidiaries in tax havens. Urging the government to take appropriate actions, the report raised the firms’ costs of holding tax haven...... subsidiaries. After this event, there was a 0.9% drop in cumulative abnormal returns among the non-financial firms (corresponding to about £9 billion in market capitalization), more so for better-governed firms and those with larger shares of subsidiaries in tax havens. We find some evidence that government...

  3. Top management team heterogeneity and firm performance: An empirical research on Chinese listed companies

    Institute of Scientific and Technical Information of China (English)

    ZHANG Ping

    2007-01-01

    An empirical study of the 2001-2002 data from 356 Chinese companies listed in the Shanghai and Shenzhen stock exchanges indicates that within the social context of China the characteristics of a firm's top management team have a different impact on firm performance from those of foreign countries. Also, the tenure heterogeneity and functional experience heterogeneity of the top management team are inversely related to firm performance. This paper analyzes and discusses the findings in detail and points out areas for future research.

  4. DOES MARKET TIMING DRIVE CAPITAL STRUCTURE? EMPIRICAL EVIDENCE FROM AN EMERGING MARKET

    Directory of Open Access Journals (Sweden)

    Sibel Çelik

    2013-01-01

    Full Text Available The purpose of this study is to test how equity market timing affects capital structure from the perspective of IPO (Initial Public Offering event in ISE for the period between 1999-2008. Our dataset comprises of all firms (75 firms that went public from the period of January 1999 to December 2008 in Turkey that are available in ISE database. We analyse the market timing theory by applying cross sectional regression method. For this purpose, first, we test the impact of market timing on the amount of equity issued by IPO firms. Second we examine the impact of market timing on capital structure. We conclude that market timing theory is not valid for Turkey.

  5. Markups and Firm-Level Export Status

    DEFF Research Database (Denmark)

    De Loecker, Jan; Warzynski, Frederic

    and export behavior using plant-level data. We find that i) markups are estimated significantly higher when controlling for unobserved productivity, ii) exporters charge on average higher markups and iii) firms' markups increase (decrease) upon export entry (exit).We see these findings as a first step...... in opening up the productivity-export black box, and provide a potential explanation for the big measured productivity premia for firms entering export markets....

  6. An Examination of Market Entry Perspectives in Emerging Markets

    Directory of Open Access Journals (Sweden)

    Marvin O. Bates

    2017-11-01

    Full Text Available Purpose – The purpose of this article is to describe the marketing-oriented market entry approaches that businesses are currently using across the three levels of the world economic pyramid (i.e., WEP. These levels are the Top-tier, the Middle-tier, and the Base of the Pyramid-tier (i.e., BoP-tier. Methodology – The literature of the BoP was reviewed, and market entry approaches were itemized across the three WEP levels. Secondly, BoP strategic theorists including Prahalad identified the need for a BoP marketing focus replacing the traditional 4Ps marketing approach (i.e., Product, Price, Place and Promotion with the BoP-specific 4As marketing approach (i.e., Awareness, Affordability, Access and Availability. This 4As marketing approach is discussed. Findings – New marketing-oriented market-entry approaches are proposed for each of the three WEP levels. These approaches are based on where in the WEP the firm currently exists, and where in the WEP the firm desires to refocus market-entry activities; identified approaches include: inter-country expansion, intra-country entry, adjacent market entry, and extended market entry. Secondly, the absence of a clearly articulated marketing strategy for middle-tier markets was observed. Practical implications – This article has two specific applications. First, it summarizes the evolving market entry perspectives to provide a context for future market research in both emerging markets and the pre-emerging BoP markets. Second, the future requirement for an articulated marketing strategy for middle-tier markets is suggested. Originality – This article examined existing market entry approaches across all three levels of the WEP, inclusive of the BoP economic level. The language used to clarify market entry movements was extended, providing a specificity of description not previously found in either the existing market entry or BoP literature.

  7. Can Cross-Listing Mitigate the Impact of an Information Security Breach Announcement on a Firm's Values?

    Science.gov (United States)

    Chen, Yong; Dong, Feng; Chen, Hong; Xu, Li

    2016-08-01

    The increase in globalization in the markets has driven firms to adopt online technologies and to cross-list their stocks. Recent studies have consistently found that the announcements of information security breaches (ISBs) are negatively associated with the market values of the announcing firms during the days surrounding the breach announcements. Given the improvement in firms’ information environments and the better protection for investors generated by cross-listing, does cross-listing help firms to reduce the negative impacts caused by their announcements of ISBs? This paper conducts an event study of 120 publicly traded firms (among which 25 cross-list and 95 do not), in order to explore the answer. The results indicate that the impact of ISB announcements on a firm's stock prices shows no difference between cross-listing firms and non-cross-listing firms. Cross-listing does not mitigate the impact of ISBs announcement on a firm's market value.

  8. Towards a synergic innovation management model: the interplay of market, technology, and management innovations

    Directory of Open Access Journals (Sweden)

    Leonard Tchuta

    2017-03-01

    Full Text Available This paper outlines a model of firm innovation management known as the synergic innovation management model. Building on the theory of dynamic capabilities and core competence, the paper suggest three capabilities of firms namely market, technology, management capabilities that drive firms’ innovations. The combination of these three capabilities creates a unique configuration for a firm known as the firm’s core competence that informs the firm's strategic decisions. The synergic innovation management model guides firm in the simultaneous exploration of market, technology, and management innovations required for sustainable business. The paper concludes with limitations of the model and suggestions for further research.

  9. New Generation Marketing On Social Media And A Research On Usage Of Social Networks In

    OpenAIRE

    Tolga Kara

    2012-01-01

    In today’s world where technological progresses are quickly changing our lives, firms have to reshape themselves according to this new understanding. Classical business models that focus on producer are replaced by consumer centric new business ideas. Firms which are far away from needs and expectations of consumer will lose their market position and disappear over time. This view shows itself in new communication channels and social media networks offer incredible possibilities for firms. In...

  10. Essays on Labour Markets

    DEFF Research Database (Denmark)

    Buhai, Ioan Sebastian

    ), on modelling the arousal and persistence of occupational segregation and labour market inequalities between social subgroups (chapter 4), and respectively on characterizing the link between the firms' health and safety work environment and their financial performance (chapter 5). Each of the essays contributes...... return to seniority", with seniority the position of the worker in the tenure hierarchy of her firm, this concept establishing parsimoniously but effectively the link between the worker's fate in the labour market and her firm's fate in the product market; if network referrals are relevant for job search...... work") raises, but any other specific work health and safety practice indicators do not affect, a firm's productivity....

  11. CAPITAL STRUCTURE, COST OF DEBT AND DIVIDEND PAYOUT OF FIRMS IN NEW YORK AND SHANGHAI STOCK EXCHANGES

    Directory of Open Access Journals (Sweden)

    Jun Jiang

    2013-01-01

    Full Text Available The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Exchange. This paper adds to the literature in that it provides an evidence of difference in dividend policy of firms between advanced and emerging stock markets. For policymakers in the Chinese economy, implementation of measures to enhance the advancement of bond market is necessary. Additionally, firms in Shanghai Stock Exchange should adjust their capital structure to provide room for investors to diversify and adjust their portfolios of stocks and bonds.

  12. INCREASING RETURNS TO SCALE, DYNAMICS OF INDUSTRIAL STRUCTURE AND SIZE DISTRIBUTION OF FIRMS

    Institute of Scientific and Technical Information of China (English)

    Ying FAN; Menghui LI; Zengru DI

    2006-01-01

    A multi-agent model is presented to discuss the market dynamics and the size distribution of firms.The model emphasizes the effects of increasing returns to scale and gives the description of the born and death of adaptive producers. The evolution of market structure and its behavior under the technological shocks are investigated. Its dynamical results are in good agreement with some empirical "stylized facts" of industrial evolution. With the diversity of demand and adaptive growth strategies of firms, the firm size in the generalized model obeys the power-law distribution. Three factors mainly determine the competitive dynamics and the skewed size distributions of firms: 1. Self-reinforcing mechanism; 2. Adaptive firm growing strategies; 3. Demand diversity or widespread heterogeneity in the technological capabilities of firms.

  13. TQM and firms performance: An EFQM excellence model research based survey

    Directory of Open Access Journals (Sweden)

    Santos-Vijande, M. L.

    2007-01-01

    Full Text Available The purpose of this article is to develop an instrument for measuring TQM implementation following the European Foundation for Quality Management Excellence Model and to provide empirical evidence on the relationship between management practices and measures of business performance in the model. To this end, the study employs survey data collected from Spanish manufacturing and service firms. Confirmatory factor analysis is used to test the psychometric properties of the measurement scales and the hypothesized relationships between total quality management practices and organizational performance are examined using structural equation modeling. The findings of the research indicate that the adoption of the TQM practices suggested in the EFQM Excellence Model allows firms to outperform their competitors in the results criteria included in the Model. Therefore, this paper provides a valuable benchmarking data for firms as it substantiates the EFQM Enabler’s contribution to the attainment of competitive advantage.

  14. Firm-Size Wage Gaps along the Formal-Informal Divide: Theory and Evidence

    OpenAIRE

    Balkan, Binnur; Tumen, Semih

    2015-01-01

    Observationally equivalent workers are paid higher wages in larger firms. This fact is often named as the “firm-size wage gap” and is regarded as a key empirical puzzle. Using micro-level data from Turkey, we document a new stylized fact : the firm-size wage gap is more pronounced for informal (unregistered) jobs than for formal (registered) jobs. To explain this fact, we develop a two-stage wage-posting game with market imperfections and segmented markets, the solution to which produces wage...

  15. Norms and Interfirm Governance in Client-Architectural Firm Relationships

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    2001-01-01

    on the basis of IMP Group and institutional theory. Thereafter Danish architectural firms' activities on the German market are analyzed using the framework. The analysis suggests that there are interconnections between norms and relationship types; furthermore firms' position in the field and economic...

  16. Employers and the Implementation of Active Labor Market Policies

    Directory of Open Access Journals (Sweden)

    Thomas Bredgaard

    2016-03-01

    Full Text Available Active labor market policies (ALMPs are an important instrument for governments in dealing with the new challenges of globalization, flexibilization, and individualization of labor markets. Politics and research has focused on the supply-side of the labor market, that is, regulating the rights and obligations of the target groups of ALMPs (mainly unemployed and inactive persons. The role and behavior of employers is under-researched and under-theorized in the vast literature on ALMPs and industrial relations. In this article, we analyze ALMPs from the employers’ perspective by examining the determinants of firms’ participation in providing wage subsidy jobs for the unemployed. First, we examine the historical background to the introduction and development of wage subsidy schemes as an important ALMP instrument in Denmark. Second, we derive theoretical arguments and hypotheses about employers’ participation in ALMPs from selected theories. Third, we use data from a survey of Danish firms conducted in 2013 to characterize the firms that are engaged in implementing wage subsidy jobs and hypotheses are tested using a binary logistical regression to establish why firms voluntarily engage in reintegrating unemployed back into the labor market. We find that the firms which are most likely to participate in the wage subsidy scheme are characterized by many unskilled workers, a higher coverage of collective agreements, a deteriorating economic situation, a Danish ownership structure, and are especially found in the public sector. This shows that the preference formation of firms is more complex than scholars often assume.

  17. Factors Stimulating Internationalisation of Firms: An Attempted Holistic Synthesis

    Directory of Open Access Journals (Sweden)

    Magdalena Belniak

    2015-06-01

    Full Text Available The main goal of this paper is the critical and synthetic analysis of internationalisation process factors, with reference to business management. It presents a systematic review of the most important relational ideas in regard to factors of firm-level internationalisation. The text includes the synthesis of previous academic studies and results of empirical researches on internationalisation factors. The motives for going international are explained in reference to external and internal factors. Different definitions of understanding external factors of internationalisation of firms are discussed, among them (i framework factors (market, cost, governmental, competitive and additional factors, (ii conditioning factors (factor and demand conditions, related and supporting industries, firm strategy, structure and rivalry as well as (iii general environment factors (economic environment, demographic environment, political and legal environment, technological, natural and socio-cultural environment. Internal factors of internationalisation are mostly rooted in the resource-based view. Motives for going international mainly depend on top management team, international resources and firms specifics. The paper underlines that there are numerous factors, both external and internal, which influence international activities of firms. Despite the fact that the decision to internationalize is focused on specific motives and goals, the role of managers is crucial.

  18. Solar Market Research and Analysis | Solar Research | NREL

    Science.gov (United States)

    Analysis Solar Market Research and Analysis Through rigorous data collection, analysis, and stakeholder engagement, NREL's Solar Market Research and Analysis efforts further solar technologies' role in solar panels. Key areas for NREL's solar market research and analysis portfolio include the following

  19. Bundling and mergers in energy markets

    International Nuclear Information System (INIS)

    Granier, Laurent; Podesta, Marion

    2010-01-01

    Does bundling trigger mergers in energy industries? We observe mergers between firms belonging to various energy markets, for instance between gas and electricity providers. These mergers enable firms to bundle. We consider two horizontally differentiated markets. In this framework, we show that bundling strategies in energy markets create incentives to form multi-market firms in order to supply bi-energy packages. Moreover, we find that this type of merger is detrimental to social welfare. (author)

  20. Marketing-sales interface and organizational competitiveness

    Directory of Open Access Journals (Sweden)

    George J. Avlonitis

    2015-03-01

    Full Text Available This paper focuses on the effectiveness of marketing-sales interfaces in B2B firms. As the body of knowledge on this domain is scarce, there is a greater need to investigate the specific aspects of marketing-sales configurations in such firms. The objective of this paper is to expand existing knowledge regarding marketing-sales interfaces in B2B firms, in order to identify the effectiveness of each configuration. Based on quantitative data collected from marketing or sales managers of 98 B2B firms, the study identifies the most effective marketing-sales interface in terms of smooth relationships and enhanced performance. The implications of the study are discussed.

  1. Franchising as strategy for internationalization of Family Firms: an exploratory study

    OpenAIRE

    Rosado-Serrano, Alexander; Universidad de Puerto Rico

    2017-01-01

    Family business is the most prevalent form of business thru out Latin America. Franchising has been a strategy used by many firms to expand domestically and internationally. Internationalization theories indicate that firms tend to expand to culturally close markets/countries. Family Business theories indicate that family firms have specific advantages in comparison with non-family firms. The purpose of this paper is to conduct a literature review about franchising family firms in Latin Ameri...

  2. Patent Races and Market Value

    DEFF Research Database (Denmark)

    Czarnitzki, Dirk; Hussinger, Katrin; Leten, Bart

    Patent races are models of strategic interactions between firms competing to develop an invention. The winning firm secures a patent, protecting the invention from imitation. This paper tests the assumption made about the reward structure in patent races, both in discrete and complex industries. We...... identify patent race winners using detailed information from the patent examination reports at the European Patent Office (EPO). Estimates of a market value equation featuring large, R&D-intensive U.S., European and Japanese firms, show that if firms win patent races, their market value increases...... significantly. We further show that the gain in market value is significantly larger for patent race winners in discrete industries than for firms in complex industries....

  3. The Relationship between Offshoring Strategies and Firm Performance: Impact of innovation, absorptive capacity and firm size

    NARCIS (Netherlands)

    M.W. Roza-van Vuren (Marja)

    2011-01-01

    textabstractHow do offshoring strategies impact firm performance? And how are innovation, absorptive capacity and firm size influencing this relationship? This research investigates how firms of varying size, well-established firms and growing firms may profit from relocating business activities to

  4. Digital loyalty card "big data' and small business marketing: Formal versus informal or complementary?

    OpenAIRE

    Donnelly, Christina; Simmons, Geoff; Armstrong, Gillian; Fearne, Andrew

    2015-01-01

    This article proposes that a complementary relationship exists between the formalised nature of digital loyalty card data, and the informal nature of small business market orientation. A longitudinal, case-based research approach analysed this relationship in small firms given access to Tesco Clubcard data. The findings reveal a new-found structure and precision in small firm marketing planning from data exposure; this complemented rather than conflicted with an intuitive feel for markets. In...

  5. The Effect Of Entrepreneurial Strategy And Action Amongst Firms In ...

    African Journals Online (AJOL)

    The need for a managerial team or group, with the skills required to develop, and market a new or old product and resuscitate company or firm\\'s image ginger this study. Ironically most firms/ companies in Nigeria seldom make use of these experts (new venture team) to exploit opportunities others are yet to know. The study ...

  6. 10 CFR 904.6 - Charge for capacity and firm energy.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Charge for capacity and firm energy. 904.6 Section 904.6... CANYON PROJECT Power Marketing § 904.6 Charge for capacity and firm energy. The charge for Capacity and Firm Energy from the Project shall be composed of two separate charges; a charge to provide for the...

  7. The Firm as an Internal Capital Market

    DEFF Research Database (Denmark)

    Duus, Henrik Johannsen

    1996-01-01

    A review of current strategy literature shows that the portfolio view seems to have become unfashionable. This article argues in favor of a revitalization of the portfolio view, and attempts to show that with a few changes, it can be used together with the modern theories of the firm and its...

  8. Marketing research: Pathway to optimal market oriented products ...

    African Journals Online (AJOL)

    This paper examines the role of marketing research as pathway to developing optimal market oriented products. The objectives of this paper among others are to (i) Establish whether the use of marketing research has effect on new product adoption process by consumers (ii) Find out if there is any relationship between the ...

  9. Motives behind Strategic Alliance Formation among Medium-Sized Manufacturing Firms in Tanzania

    OpenAIRE

    Kafigi Jeje

    2014-01-01

    Research on strategic alliance motives has attracted a great attention as firms strive to become market leaders. One critical area is to assess the contribution of these motives to strategic alliance formation. Most studies on alliance motives concentrate on international strategic alliances that involve large or multinational corporations from developed economies. Little research has been done on Small and Medium Enterprises (SMEs), particularly Medium-Sized Enterprises (MEs) from the manufa...

  10. Investigating Food and Beverage Industry Market Structure and Market Power Based on Leo and Bresnahan’s Approach

    Directory of Open Access Journals (Sweden)

    M. Nabishahikitash

    2016-03-01

    Full Text Available Introduction: Food processing industries are one of the major industrial groups in developing countries which play an important role in the economic development of these countries. With the Developed and Developing Food Industry on the other hand, food security and providing food are very important in each country. In an overview, markets are divided into two groups: The first group is a market with perfect competition. And second group is markets with monopoly structure.One of the important features of markets that determine its type is the ability of the firms in the pricing and determiningof the amount of production. If the firms do not have any effect on these two factors, themarket has perfect competition.If the firms have the ability to influence price of productions, this market is non-competitive and a concept called market power emerges.In general, not only market power is the ability of firm in determination of price above the competitive situation, but also it does not let its share of sale to decrease. The existence of collusion in markets can makethem distantfrom perfect competition and make them incomplete. In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost. In perfect competitive markets, market participants have no market power. A firm with total market power can raise prices without losing any customers to competitors. Firms that have power to set price are referred to as "price makers" or "price setters", while those without itare sometimes called "price-takers". Significant market power occurs when prices exceed marginal cost and the long run average cost, so the firm makes economic profits. A firm with market power has the ability to individually affect either the total quantity or the prevailing price in the market. Price makers face a downward slopingdemand curve, such that increases in price leads to a

  11. Interconnected levels of Multi-Stage Marketing – A Triadic approach

    DEFF Research Database (Denmark)

    Vedel, Mette; Geersbro, Jens; Ritter, Thomas

    2012-01-01

    must not only decide in general on the merits of multi-stage marketing for their firm, but must also decide on which level they will engage in multi-stage marketing. The triadic perspective enables a rich and multi-dimensional understanding of how different business relationships influence each other......Multi-stage marketing gains increasing attention as knowledge of and influence on the customer's customer become more critical for the firm's success. Despite this increasing managerial relevance, systematic approaches for analyzing multi-stage marketing are still missing. This paper conceptualizes...... different levels of multi-stage marketing and illustrates these stages with a case study. In addition, a triadic perspective is introduced as an analytical tool for multi-stage marketing research. The results from the case study indicate that multi-stage marketing exists on different levels. Thus, managers...

  12. Does Partner Volatility Have Firm Value Relevance? An Empirical Analysis of Part Suppliers

    Directory of Open Access Journals (Sweden)

    Insung Son

    2018-03-01

    Full Text Available Considering the lifecycle of products, firms are releasing new products through diversified strategic partnerships via the global supply chain. As the uncertainty about the future increases and strategic partnership grows more important, part suppliers are becoming more and more significant in assessing firm value. From the perspective of the signaling effect, this study analyzed the impact of partner volatility (new partner, old partner, revocation partner on firm value in terms of global supply chain management. Regarding both Apple and Samsung which have bisected the premium smart phone market, research results reveal that companies eliminated from partnership selection are found to show negative signaling effect, and the newly selected companies have the stronger innovative capacity and higher signaling effect of higher excess earning rate than that of re-selected companies. The findings indicate that the partner volatility of partner companies work as a reliable investment signal for investors to recognize as an investment indication, contributing to firm value. In particular, it is meaningful to confirm that a new partner’s differentiated R&D capacity is a key factor of new product launching and a significant variable capable of determining a firm’s survival in the smart phone market.

  13. THE BORROWER CHARACTERISTICS IN HOT EQUITY MARKETS

    Directory of Open Access Journals (Sweden)

    HALIL DINCER KAYA

    2017-06-01

    Full Text Available In this study, I examine the characteristics of U.S. corporate borrowers (public debt, private placement, and syndicated loan firms in HOT versus COLD equity markets. My main objective is to see the characteristics of firms that choose debt financing even when the equity market is HOT. HOT equity markets are defined as the top twenty percent of the months in terms of the de-trended number of equity offerings. I find that the HOT equity market borrowers generally have higher market-to-book ratios compared to the COLD market borrowers. Also, in HOT equity markets, the public debt firms (i.e. the corporate bond issuers tend to have fewer tangible assets, the private placement firms tend to be smaller and highly levered, and the syndicated loan firms tend to be smaller, more profitable, and less levered compared to the COLD market firms. When I look at the number of transactions in each market, I find that when the equity market is active (i.e. HOT, the syndicated loan market is even more active. During these periods, the public debt market is also active (although not as much as the equity or the syndicated loan markets. When I look at the sizes of the transactions in each market, I find that the private placements tend to be significantly larger in HOT markets compared to COLD markets. I conclude that while the equity, the public debt, and the syndicated loan markets move together in terms of market activity, the equity market and the private placement markets move together in terms of the size of the transaction.

  14. The impact of design choices and market factors on brokerage firms' efficiency

    NARCIS (Netherlands)

    de Groot, T.; Risseeuw, P.; Wiersma, E.

    2011-01-01

    Purpose - The purpose of this paper is to explore how scale and scope of operations, firm age, and the choice to join a franchise formula influences brokerage firms' efficiency. Design/methodology/approach - Four-year data of 1,282 Dutch real estate brokerage firms is used to compute a relative

  15. The impact of design choices and market factors on brokerage firms' efficiency

    NARCIS (Netherlands)

    Groot, T.L.C.M.; Risseeuw, P.; Wiersma, E.

    2011-01-01

    Purpose: The purpose of this paper is to explore how scale and scope of operations, firm age, and the choice to join a franchise formula influences brokerage firms' efficiency. Design/methodology/approach: Four-year data of 1,282 Dutch real estate brokerage firms is used to compute a relative

  16. The strategic use of forward contracts: Applications in power markets

    Science.gov (United States)

    Lien, Jeffrey Scott

    This dissertation develops three theoretical models that analyze forward trading by firms with market power. The models are discussed in the context of recently restructured power markets, but the results can be applied more generally. The first model considers the profitability of large firms in markets with limited economies of scale and free entry. When large firms apply their market power, small firms benefit from the high prices without incurring the costs of restricted output. When entry is considered, and profit opportunity is determined by the cost of entry, this asymmetry creates the "curse of market power;" the long-run profits of large firms are reduced because of their market power. I suggest ways that large power producers can cope with the curse of market power, including the sale of long-term forward contracts. Past research has shown that forward contracts can demonstrate commitment to aggressive behavior to a competing duopolist. I add explicitly modeled entry to this literature, and make the potential entrants the audience of the forward sale. The existence of a forward market decreases equilibrium entry, increases the profits of large firms, and enhances economic efficiency. In the second model, a consumer representative, such as a state government or regulated distribution utility, bargains in the forward market on behalf of end-consumers who cannot organize together in the spot market. The ability to organize in forward markets allows consumers to encourage economic efficiency. When multiple producers are considered, I find that the ability to offer contracts also increases consumer surplus by decreasing the producers' profits. In some specifications of the model, consumers are able to capture the full gains from trade. The third model of this dissertation considers the ability of a large producer to take advantage of anonymity by randomly alternating between forward sales and forward purchases. The large producer uses its market power to

  17. Managerial capacity in the innovation process and firm profitability

    OpenAIRE

    Giovanni Cerulli; Bianca Potì

    2013-01-01

    This paper studies at firm level the relation between managerial capacity in doing innovation and profitability. Moving along the intersection between the evolutionary/neo-Schumpeterian theory and the Resource-Based-View of the firm, we prove econometrically that managerial efficiency in mastering the production of innovation is an important determinant of firm innovative performance and market success, and that it complements traditional Schumpeterian drivers. By using a Stochastic Frontier ...

  18. Essays on marketing strategy in technology-intensive markets

    NARCIS (Netherlands)

    Stremersch, S.

    2001-01-01

    Marketing scholars have only recently started to explore the strategic marketing challenges faced by firms in technology-intensity (TI) markets. Still, technology is at the core of many contemporary markets and TI markets are unique because of their knowledge-intensity and technological turbulence.

  19. Managing innovation in SMEs product development in small Irish electronics firms

    CERN Document Server

    Ledwith, Ann; Bessant, John

    2009-01-01

    Innovating and developing new products is critical for the survival and growth of any small firm but particularly for technology based firms. This study of NPD at small Irish electronics firms makes two main contributions to knowledge. Firstly, the management of NPD at small firms is found to be different from that at large firms in several respects including; NPD resources and expenditure, organising for NPD, NPD process proficiency, marketing and technical skills and proficiency, R&D/marke...

  20. An Exact Soultion for the Investment and Market Value of a Firm Facing Uncertainty, Adjustment Costs, and Irreversibility

    OpenAIRE

    Andrew B. Abel; Janice C. Eberly

    1993-01-01

    This paper derives closed-form solutions for the investment and market value, under uncertainty, of competitive firms with constant returns to scale production and convex costs of adjustment. Solutions are derived for the case of irreversible investment as well as for reversible investment. Optimal investment is a non-decreasing function of q, the shadow value of capital. The conditions of optimality imply that q cannot contain a bubble; thus, optimal investment depends only on fundamentals. ...

  1. Damaging brands through market research:

    DEFF Research Database (Denmark)

    Horn, C.; Brem, Alexander; Ivens, B.

    2014-01-01

    Purpose – The purpose of this paper is to investigate the possibility of using the new marketing research tool of prediction markets (PMs), which integrates customers to into the marketing research process. The research questions are: does taking part in PMs influence customers’ brand perception......? Is there a danger of damaging a brand through this tool? Design/methodology/approach – The paper uses a series of five short-term (less than one hour) and five long-term (three weeks) experimental online PMs where customers are integrated into marketing research and apply a series of online-surveys before and after...... taking part as virtual stock market traders. Subjects of research are taken from the sporting goods industry. Findings – The paper shows that PMs can be used by marketing researchers without the danger of damaging the brand of the products that are subject of the PMs, although customers are being...

  2. Small firm perspective in customer relationship management implementation

    OpenAIRE

    Teh, Soo Yee

    2017-01-01

    CRM has been a popular topic since the 90s and several of studies have been conducted by academic scholars from diverse multidisciplinary fields of study. CRM implementation have always been focused in large organizations and not that much attention given has been to smaller size organization. However, with the emerging small size firms in the market CRM software providers shifted the attention from larger firms to smaller size firms. The ready to use software, lower cost and features functio...

  3. A Study Effects Architectural Marketing Capabilities on Performance Marketing unit Based on: Morgan et al case: Past Industry in Tehran

    OpenAIRE

    Mohammad Reza Dalvi; Robabe Seifi

    2014-01-01

    Over a period of time architectural marketing capabilities combination of knowledge and skills develop in to capabilities. These architectural marketing capabilities have been identified as one of the important ways firms can achieve a competitive advantage The following research tests effects architectural marketing capabilities on performance marketing unit Based on a survey .a structural equation model was developed to test our hypotheses. the study develops a structural model linking arch...

  4. R and D investment of electricity-generating firms following industry restructuring

    International Nuclear Information System (INIS)

    Kim, Jihwan; Kim, Yeonbae; Flacher, David

    2012-01-01

    Since electricity market restructuring, questions over adequate levels of R and D investments persisted. Using an unbalanced panel data of 70 electricity-generating firms across 15 Organisations of Economic Co-operation and Development countries from 1990 to 2008, this paper empirically examines the impacts of entry liberalization (allowing third party access, establishing a wholesale market, and deregulating a retail market), vertical unbundling, privatization, and firm size on R and D investments. Entry liberalization is associated with a decline in R and D investment. Establishing a wholesale market exhibits the greatest negative effects on R and D investment. Regulated TPA and retail market deregulation also decrease R and D. The effect of privatization is not independently salient but interacts with a wholesale pool to lower R and D investments. Large firms spend more on R and D investment than small firms. Results indicate that the restructuring of the electricity industry reduces R and D investment, which may be detrimental to the reliability and the efficiency of the electricity system as well as to the creation and maintenance of the innovation capabilities necessary to address demand and environmental concerns. - Highlights: ► Entry liberalization decreases R and D outlays of electricity generating utilities. ► Establishment of a wholesale market leads to a substantial decline in R and D spending. ► Private ownership interacts with entry liberalization to lower R and D investment.

  5. Solar Market Research and Analysis Projects | Solar Research | NREL

    Science.gov (United States)

    Market Research and Analysis Projects Solar Market Research and Analysis Projects Solar market research and analysis efforts at NREL seek to further solar technologies' role in supporting a more . Midscale Commercial Market Solar Analysis NREL experts are providing analysis to expand the midscale solar

  6. Determining firm characteristics and the level of voluntary corporate governance disclosures among Malaysian listed property companies

    Directory of Open Access Journals (Sweden)

    Talpur Shabana

    2018-01-01

    Full Text Available This study examined the level of voluntary corporate governance disclosures and the influence of firm characteristics (i.e., firm size, firm age, and firm market listing on the level of these disclosures among Malaysian property listed companies. The check-list to measure the voluntary corporate governance disclosures was adopted from Malaysian corporate governance index 2011 by Minority Shareholder Watchdog Group (MSWG. The voluntary corporate governance disclosure practices and firm specific characteristics were obtained from annual reports of property listed companies on Bursa Malaysia for the period of 2012 to 2015. The findings suggested an improving voluntary corporate governance reforms in Malaysia. However, the firm size was found as an inflicting factor in determining the level and quality of voluntary corporate governance disclosure practices. On the contrary, the results found were contradicting the hypothesis related to firm age and firm market listing, as no relation of voluntary corporate governance disclosures and firm age and firm market listing. The study has made an interesting contribution toward the disclosure and corporate governance by contributing in understanding the importance of quality disclosure and good governance practices.

  7. Business groups and internal capital markets

    NARCIS (Netherlands)

    Gonenc, Halit; Kan, Ozgur B.; Karadagli, Ece C.

    2007-01-01

    We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in Turkey, all emerging market. We address the question of whether group-affiliated firms create internal capital markets or control large cash flows. Our findings indicate that

  8. Guarantees come to professional service firms.

    Science.gov (United States)

    Hart, C W; Schlesinger, L A; Maher, D

    1992-01-01

    Can lawyers, doctors, investment bankers, accountants, and consultants guarantee their work? Your money back if not absolutely delighted? Some professional service firms are doing exactly that, and they believe they are gaining not only satisfied customers but higher market share and improved service quality. The authors discuss the benefits and risks of unconditional and more limited guarantees. Firms that address this issue proactively now, they argue, will be less likely to rush into poorly considered guarantees later.

  9. Purposing Division Strategy for Pharmaceutical Producer Dexa Medica in the Demanding Market

    Science.gov (United States)

    Setiawati, Cut Irna; Wahyono, Agatha Christy

    2017-01-01

    This research aims to purpose the division strategy for a pharmaceutical producer in Kalimantan area, named Dexa Medica Samarinda. Currently, this firm is facing a competitive market condition and evolving a decline position in the market. This research uses qualitative research method by organising intensive interview to important informants so…

  10. What do we know about private family firms? A meta-analytic review

    NARCIS (Netherlands)

    Carney, M.; van Essen, M.; Gedajlovic, E.; Heugens, P.P.M.A.R.

    2015-01-01

    The universe of family firms is heterogeneous, and findings gleaned from publicly listed firms may not apply to the ubiquitous, but less frequently studied, privately held family firm (PFF). As PFFs are insulated from capital market pressures, owner-managers have greater latitude in setting

  11. Interconnected Levels of Multi-Stage Marketing

    DEFF Research Database (Denmark)

    Vedel, Mette; Geersbro, Jens; Ritter, Thomas

    2012-01-01

    different levels of multi-stage marketing and illustrates these stages with a case study. In addition, a triadic perspective is introduced as an analytical tool for multi-stage marketing research. The results from the case study indicate that multi-stage marketing exists on different levels. Thus, managers...... must not only decide in general on the merits of multi-stage marketing for their firm, but must also decide on which level they will engage in multi-stage marketing. The triadic perspective enables a rich and multi-dimensional understanding of how different business relationships influence each other...... in a multi-stage marketing context. This understanding assists managers in assessing and balancing different aspects of multi- stage marketing. The triadic perspective also offers avenues for further research....

  12. Does Family Control Affect Trade Performance? Evidence for Italian Firms

    OpenAIRE

    Giorgio Barba Navaretti; Riccardo Faini; Alessandra Tucci

    2008-01-01

    This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to entering foreign markets, as far as these are perceived as more volatile and risky than the domestic one, particularly when such choice entices bearing relatively high sunk costs. We develop an illustrative...

  13. Mathematical Formulation of Relationship between Applied Marketing Effort and Potential Ability of Determining Market Share

    Directory of Open Access Journals (Sweden)

    Mokhtar M. Metwally

    2008-01-01

    Full Text Available The aim of this paper is to formulate the mathematical relationship between firms potential ability and their applied efforts to attract the body of unattached customers. A method is devised in this paper by which management techniques imposed by a particular firm can evaluate its market share. This paper demonstrates the relationship between the applied marketing effort of management and the potential ability of the firm in determining its market share. This paper also investigates the effect of a number of simultaneous marketing impulses on the movement of the body of unattached customers and hence on the size of the market share.

  14. Firm Productivity and Infrastructure Costs in East Africa

    OpenAIRE

    Iimi, Atsushi; Humphrey, Richard Martin; Melibaeva, Sevara

    2015-01-01

    Infrastructure is an important driving force for economic growth. It reduces trade and transaction costs and stimulates the productivity of the economy. Africa has been lagging behind in the global manufacturing market. Among others, infrastructure is an important constraint in many African countries. Using firm-level data for East Africa, the paper reexamines the relationship between firm ...

  15. Essays on Family Firms

    OpenAIRE

    Zhou, Haoyong

    2012-01-01

    The dissertation examines corporate performance and capital structure of family firms, contributing to the limited empirical research on family firms. Family firms are prevalent in national economies all over the world. It is the prevalence that makes family firms receive increasing attentions from academia. The dissertation consists of an introduction and three chapters. Each chapter is an independent paper. The first chapter is a joint work with Professor Morten Bennedsen and...

  16. Functional Management Competence and Growth of Young Technology-Based Firms

    DEFF Research Database (Denmark)

    Salomo, Søren; Brinckmann, Jan; Talke, Katrin

    2008-01-01

    . While technology management competence is positively driving development speed, the marketing management competence impact on speed is mediated by competitive advantage of the new products developed by young technology-based firms. Financial management competence has no significant link to firm...

  17. Going, Going, Gone. Innovation and Exit in Manufacturing Firms

    NARCIS (Netherlands)

    E. Cefis (Elena); O. Marsili (Orietta)

    2007-01-01

    textabstractThis paper examines the effect of innovation on the risk of exit of a firm, distinguishing between different modes of exits. Innovation represents a resource and a capability that helps a firm to build competitive advantage and remain in the market. At the same time, the resources and

  18. Do family CEOs impact firm value? An empirical analysis of Indian family firms

    Directory of Open Access Journals (Sweden)

    Lakshmi Kalyanaraman

    2015-01-01

    Full Text Available We study the association between family CEO and firm value on a sample of 288 family firms during the 6-year period, from 2009 to 2014. The sample is drawn from domestic private companies belonging to non-financial services sector included in the NSE CNX 500 index. We find that family CEO has no significant association with firm value, when the family is not the majority shareholder. Family shareholding has positive relationship with firm value, but does not moderate the relationship of family CEO with firm value. We show that family CEO and firm value are negatively related when the family does not hold majority equity stake in the family firm. While family shareholding has no significant relationship with firm value, it has a negative interaction effect on the relationship between family CEO and firm value. The research findings have important implications for family firms as well as the nonfamily investors in the family firms.

  19. Factors Important for Rapid Internationalization : A Multiple Case-Study of Born Global Internet-Based Service Firms in Sweden

    OpenAIRE

    Burman, Anna; Stjernström, Ida

    2017-01-01

    The evolution of globalization and technology have changed the playground for international business and made it possible for smaller businesses to compete internationally among large and capital intensive companies. Markets become increasingly alike with converging product preferences and changing the world into one large integrated marketplace easily accessible for firms of all sizes. Recent research in the field of International Business has shed light on small firms that rapidly become in...

  20. A taxonomy of green supply chain management capability among electronics-related manufacturing firms in Taiwan.

    Science.gov (United States)

    Shang, Kuo-Chung; Lu, Chin-Shan; Li, Shaorui

    2010-05-01

    This study investigated crucial green supply chain management (GSCM) capability dimensions and firm performance based on electronics-related manufacturing firms in Taiwan. On the basis of a factor analysis, six green supply chain management dimensions were identified: green manufacturing and packaging, environmental participation, green marketing, green suppliers, green stock, and green eco-design. According to their factor scores in the GSCM dimensions, a cluster analysis subsequently assigned responding firms into four groups, namely, the weak GSCM oriented group, the green marketing oriented group, the green supplier oriented group, and the green stock oriented group. Differences in firm performance and GSCM dimensions among groups were examined. Results indicated that the green marketing oriented group performed best. Based on the resource-based view (RBV), the capability of the green marketing oriented group was considered to be the deployment of a collection of resources that enables it to successfully compete against rivals. The importance of green marketing as a GSCM capability and strategic asset/critical resources for electronics-related manufacturing firms to obtain a competitive edge is therefore highlighted in this study. Copyright 2010 Elsevier Ltd. All rights reserved.

  1. The cross-section of returns, benchmark model parameters, and idiosyncratic volatility of nuclear energy firms after Fukushima Daiichi

    International Nuclear Information System (INIS)

    Lopatta, Kerstin; Kaspereit, Thomas

    2014-01-01

    This study analyzes how the stock market returns, the factor loadings from the Carhart (1997) 4-factor model, and the idiosyncratic volatility of shares in energy firms have been affected by the Fukushima nuclear accident. Unlike existing studies, which provide evidence of a wealth transfer from nuclear to renewable energy firms for specific countries, we use an international sample and investigate whether changes in the regulatory environment and the firm-specific commitment to nuclear and renewable energies correlate with the capital market's reactions to the Fukushima Daiichi accident. Our findings suggest that the more a firm relies on nuclear power, the more its share price declined after the accident. A commitment to renewable energies does not prevent declines in share prices but significantly helps to reduce the increase in market beta that is associated with this event. Nuclear energy firms domiciled in countries with a higher number of regulatory interventions that were triggered by the catastrophe have lower abnormal returns than those that are domiciled elsewhere. However, as a cross-sectional analysis reveals, a stronger commitment to nuclear power is the main driver for negative stock market returns. Furthermore, nuclear energy firms domiciled in countries with stronger regulatory shifts away from nuclear energy experience significant increases in market beta and the book-to-market equity factor loading according to the Carhart (1997) 4-factor model. We conclude that capital market participants are able to differentiate between the affectedness of firms with respect to their product portfolio. Energy firms could prevent increases in market beta due to catastrophes such as the Fukushima Daiichi accident by shifting some of their energy production from nuclear to renewable or other sources. - Highlights: • Abnormal stock returns of nuclear energy firms around Fukushima Daiichi depend on the mix of their energy portfolio. • Higher commitment to

  2. Rapid Internationalization of SMEs: Evidence from Born Global Firms in Chile

    Directory of Open Access Journals (Sweden)

    Christian A. Cancino

    2014-10-01

    Full Text Available The literature on born global firms in developed countries has revealed some factors that influence the rapid internationalization of Small and Medium Enterprises (SMEs, such as the technological level of the sector in which the firm participates, psychological and geographical distances from the target markets, and the existence of contact networks. To date, little research has been carried out on this topic for Latin American countries. This paper explores how certain determinants influence Chilean born global firms. A logistic regression model is used to analyze 112 SMEs with regular export activities. The results show that Chilean born global firms are influenced by national and international contact networks that their founders are able to generate. The psychological distance between Chilean SMEs and developed countries in Asia, North America and Europe also influences the internationalization of Chilean SMEs. The principal characteristic of Chilean born global firms is their lack of participation in highly technological sectors, with these SMEs instead being involved in sectors that actively exploit natural resources. The results of this study permit certain public policy recommendations to be made that might boost the development of export SMEs.

  3. Does External Knowledge Sourcing Enhance Market Performance? Evidence from the Korean Manufacturing Industry.

    Science.gov (United States)

    Lee, Kibaek; Yoo, Jaeheung; Choi, Munkee; Zo, Hangjung; Ciganek, Andrew P

    2016-01-01

    Firms continuously search for external knowledge that can contribute to product innovation, which may ultimately increase market performance. The relationship between external knowledge sourcing and market performance is not well-documented. The extant literature primarily examines the causal relationship between external knowledge sources and product innovation performance or to identify factors which moderates the relationship between external knowledge sourcing and product innovation. Non-technological innovations, such as organization and marketing innovations, intervene in the process of external knowledge sourcing to product innovation to market performance but has not been extensively examined. This study addresses two research questions: does external knowledge sourcing lead to market performance and how does external knowledge sourcing interact with a firm's different innovation activities to enhance market performance. This study proposes a comprehensive model to capture the causal mechanism from external knowledge sourcing to market performance. The research model was tested using survey data from manufacturing firms in South Korea and the results demonstrate a strong statistical relationship in the path of external knowledge sourcing (EKS) to product innovation performance (PIP) to market performance (MP). Organizational innovation is an antecedent to EKS while marketing innovation is a consequence of EKS, which significantly influences PIP and MP. The results imply that any potential EKS effort should also consider organizational innovations which may ultimately enhance market performance. Theoretical and practical implications are discussed as well as concluding remarks.

  4. Taxing the Financially Integrated Multinational Firm

    DEFF Research Database (Denmark)

    Johannesen, Niels

    partly fall on investment and thus workers in the former country. This tax exporting mechanism introduces a scope for corporate taxes, which is not present in standard models of international taxation. Accounting for the internal capital markets of multinational firms thus represents a way to resolve......This paper develops a theoretical model of corporate taxation in the presence of financially integrated multinational firms. Under the assumption that multinational firms at least partly use internal loans to finance foreign investment, we find that the optimal corporate tax rate is positive from...... the perspective of a small, open economy. This finding contrasts the standard result that the optimal source based capital tax is zero. Intuitively, to the extent that multinational firms finance investment in country i with loans from affiliates in country j, the burden of corporate taxes in the latter country...

  5. Marketing Plan and Marketing Research for KUAS Game Studies

    OpenAIRE

    Tukiainen, Reno

    2012-01-01

    This thesis was commissioned by Tieto^2 Project. The aim of the thesis was to study higher education marketing, including marketing planning and marketing research, from the point of view of marketing Kajaani University of Applied Sciences game study programmes. After the relevant theoretical literature was reviewed, a marketing research was conducted by interviewing current KUAS game students and new applicants who had applied for KUAS game studies in the spring of 2012. Based on the analyse...

  6. The effect of innovative activity in firm performance and development: Analysing data from eurozone

    Directory of Open Access Journals (Sweden)

    Ilias A. Makris

    2016-06-01

    Full Text Available Purpose – The purpose of this paper is to examine the effect of Innovative Activity on firm performance and growth. Active Research and Development is considered to be directly related with development, prosperity and growth, in micro and macro level and a key factor in hindering economic recession. Design/methodology/approach – We analyse economic data from listed firms of selected eurozone country-members in order to associate Research and Development with performance indicators in firm and country level. For that purpose, several firm data were collected from WorldScope data base and macroeconomic data from Worldbank database. The period examined is between 2002 and 2012, with a special focus on current financial crisis (after 2007. The empirical process includes, descriptive statistics and logistic regression analysis. Findings – Findings indicate the crucial effect of innovative process in economic performance and development in firm and country level. The latter highlights the urgent need for public support in order to spur innovative activity and high-tech exports, especially in countries that were heavily affected by recession. Research limitations/implications – Some research limitations are the large number of missing cases in WordScope database, as many firms after the beginning of current crisis exit stock market. Furthermore, the other part of the economy, the Small and Medium Enterprises does not exist in the analysis, as listed firms are mainly large and mature companies. Originality/value – The results tend to highlight the need for common policy measures in eurozone, in regard to such issues, instead of imposing horizontal budgetary constraints in specific countries (like Southern Europe, hindering the vicious recessionary circle.

  7. Adopting Advertising and Communication Innovations in Small Firms

    Directory of Open Access Journals (Sweden)

    Fabricia Durieux Zucco

    2017-03-01

    Full Text Available The adoption of innovation for market penetration of small firms tends to consider the effectiveness of communication channels. In this study we investigate the adoption of communication and advertising innovations, the use of virtual social networks, in a sample of 227 small firms in the Brazilian countryside. We analyse how distinct communication objectives of a firm influence the choice of using virtual social networks to build links between firms and customers.  We also look at the role of paid advertising in virtual social networks. Main results show a trend of such firms to engage in virtual social networks when they are targeting at stronger brand image and when building deeper links through brand information with their public. Firms also tend to use advertising in virtual social networks when intending to raise brand recall from their brand portfolio.

  8. A study on the relationship between capital structure and the performance of production market: A case study of firms listed on Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Kobra Sadat Salek Esfahani

    2013-04-01

    Full Text Available One of the most complicated and challenging issues in today's financial managers is the relationship between the components of capital structure in terms of bonds and shares used for financing and share price of their company, and its effects on the macroeconomic variables. This research aims to study the relationship between the capital structure and performance of the production market in some firms listed on Tehran Stock Exchange (TSE. In this research, the index of capital structure is debt ratio and that of production market performance is sales growth and return of assets (ROA. The statistical sample of this research includes 128 companies, which have been active in 11 various industries and listed on TSE over the period 2005-2010. The statistical techniques used to test the hypotheses of this research include correlation coefficient and pooled least squares regression (panel data. Based on the results of our survey, there is a strong and significant relationship between debt ratio and return on assets among the companies listed on TSE and most industries especially based metals at the confidence level of 95%. In contrast, there is no strong and significant relationship between debt ratio and sales growth in the above-mentioned companies and in most industries.

  9. Solar Market Research and Analysis Publications | Solar Research | NREL

    Science.gov (United States)

    Market Research and Analysis Publications Solar Market Research and Analysis Publications NREL researchers and analysts publish a variety of documents related to solar market research and analysis achieving the SETO 2030 residential PV cost target of $0.05 /kWh by identifying and quantifying cost

  10. Competition and equilibria in electricity markets based on two-settlement system: A conjectural variation approach

    Science.gov (United States)

    Watts, David

    This dissertation studies electricity markets based on two-settlement systems and applies the concept of conjectural variation (CV) as a tool for representing different levels of competitiveness in the market. Some recent theoretical works are addressed to support the use of CV as a solution concept. A notion of consistency is introduced to make the level of competitiveness of the market endogenous, and allows finding consistent CV equilibria and the corresponding conditions for existence of equilibria. First, a case is studied in which firms hold exogenous levels of forward commitments. Then, backward induction and sub-game perfection are used to solve sequentially for the spot and forward market equilibrium. This allows analyzing how firms take positions in the forward market, based on considering their later impact on the spot market. It is concluded that positions taken in the forward market depend largely on firms expectations about the competitiveness of both the spot and the forward market. Forward markets are welfare enhancing even if they are not as competitive as the associated spot market as long as they are not too oligopolistie. The above formulation is used to model a dynamic scenario to analyze market stability, linking this research to Dr. Alvarado's earlier research on market stability. This brings about interesting trade offs between market power and market stability.

  11. Models for electricity market efficiency and bidding strategy analysis

    Science.gov (United States)

    Niu, Hui

    This dissertation studies models for the analysis of market efficiency and bidding behaviors of market participants in electricity markets. Simulation models are developed to estimate how transmission and operational constraints affect the competitive benchmark and market prices based on submitted bids. This research contributes to the literature in three aspects. First, transmission and operational constraints, which have been neglected in most empirical literature, are considered in the competitive benchmark estimation model. Second, the effects of operational and transmission constraints on market prices are estimated through two models based on the submitted bids of market participants. Third, these models are applied to analyze the efficiency of the Electric Reliability Council Of Texas (ERCOT) real-time energy market by simulating its operations for the time period from January 2002 to April 2003. The characteristics and available information for the ERCOT market are considered. In electricity markets, electric firms compete through both spot market bidding and bilateral contract trading. A linear asymmetric supply function equilibrium (SFE) model with transmission constraints is proposed in this dissertation to analyze the bidding strategies with forward contracts. The research contributes to the literature in several aspects. First, we combine forward contracts, transmission constraints, and multi-period strategy (an obligation for firms to bid consistently over an extended time horizon such as a day or an hour) into the linear asymmetric supply function equilibrium framework. As an ex-ante model, it can provide qualitative insights into firms' behaviors. Second, the bidding strategies related to Transmission Congestion Rights (TCRs) are discussed by interpreting TCRs as linear combination of forwards. Third, the model is a general one in the sense that there is no limitation on the number of firms and scale of the transmission network, which can have

  12. 7 CFR 917.39 - Production research, market research and development.

    Science.gov (United States)

    2010-01-01

    ... establish or provide for the establishment of production research, marketing research, and development... 7 Agriculture 8 2010-01-01 2010-01-01 false Production research, market research and development...) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF...

  13. Characterization of the Relationship Between Firms and Universities and Innovation Performance: The Case of Colombian Firms

    Directory of Open Access Journals (Sweden)

    Fredy Gomez

    2014-04-01

    Full Text Available Within the National Innovation System, universities play a key role as the main source of knowledge that supports national productivity and as a system that seeks to improve the competitiveness of firms competitiveness and to find answers concerning market needs in today’s fast-changing and globalized economy. Innovation, as a source of competitiveness, is normally supported by a firm’s technological capabilities: internal R&D, external collaborative agreements, and relationships with universities. This study uses a cluster analysis to identify three clusters that represent respectively those firms that interact closely with universities for technology development (which include R&D projects and technological learning activities, those firms that interact with universities for technological learning only, and those that do not have any kind of relationship with universities. We also analyze the innovation performance of each cluster. Data here come from the Second Colombian Innovation Survey, which was applied in 2005 to a sample of 6,222 firms. Among the main results, this study shows a higher innovation performance for those firms with relevant linkages for technology learning activities.

  14. Market research: Determinant of successful strategic marketing in financial organizations

    Directory of Open Access Journals (Sweden)

    Domazet Ivana

    2013-01-01

    Full Text Available Market research provides an information inputs for business improvement by reducing risk of wrong strategic decisions in marketing area. Therefore, it presents significant competitive activity used as a base for the company's marketing strategies and business behavior. Business environment research and attitudes of clients above all, is particularly important in the financial services sector. Due to the specific attributes of financial services, which are reflected primarily in the intangibility (immateriality, variability (heterogeneity and volatility of services, but also on account of durability and rate of expenditure and fiduciary responsibility that feature financial institutions, market research has a special dimension in this area. Thus the aim of this paper is to analyze the concept and process of market research in the financial services industry and point out the importance of market research as the basic activity that should provide inputs for making strategic marketing decisions related to: market segmentation, targeting and positioning of specific market segment. In addition, the paper presents the results of market research and provides the opinions of car insurance service users in Serbia, where the starting hypothesis was that the main factors in selecting companies for motor insurance were the following: the reputation of the insurance company, trust that the insurer will pay the damage when it occurs and the price of services.

  15. The Market for CEOs

    DEFF Research Database (Denmark)

    Aivazian, Varouj A.; Lai, Tat-kei; Rahaman, Mohammad M.

    2013-01-01

    We investigate empirically a market-based explanation for the rise in recent years in external CEO hiring and compensation and find, consistent with the market-based theory, that firms in industries relying on general managerial skills are more likely to hire CEOs externally than firms...

  16. MARKETING CAPABILITIES FOR INNOVATION-BASED COMPETITIVE ADVANTAGE IN THE SLOVENIAN MARKET

    Directory of Open Access Journals (Sweden)

    Vojko Potocan

    2013-01-01

    Full Text Available The primary role of marketing within the competitive advantage is innovation. The customer value-based differentiation strategies will drive the company’s market research efforts, its selection of target markets, its product development processes, its market communications programs, and its delivery processes. These processes require many specific capabilities that enable the firm to carry out activities necessary to move its products or services through the value chain. We must explore the role of distinctive marketing capabilities in competitive strategy of the company. As sources of competitive advantage, companies try to create their product or service differentiation by developing higher product or service quality, by using their knowledge to solving marketing problems, by communicating with their customers, and by satisfying customer’s needs. We also would like to confirm that superior customer service lead to company’s innovation. The paper closes with the implications of the findings and highlights promising future research avenues.

  17. A note on unionized firms' incentive to integrate vertically

    OpenAIRE

    Grandner, Thomas

    2000-01-01

    In this paper I analyze a vertically structured monopolized market with unionized firms. I compare two types of contracts: vertical integration and franchising. With franchising and wage bargaining at the firm level the union in the downstream firm is either very powerful or has no bargaining power at all, depending on the specific time structure of the model. These arguments could make integration preferable for the profit owners even if integration is accompanied by small transaction costs....

  18. The market for research reactors

    International Nuclear Information System (INIS)

    Roegler, H.J.

    1986-01-01

    The assay deals with some basic questions if there is an international market for research reactors at all, which influencing factors affect this market, and if research reactors have any effects on the future market for nuclear engineering. (UA) [de

  19. Case study of networking in the Danish small and medium sized dairy firms

    DEFF Research Database (Denmark)

    Rasmussen, Lauge Baungaard

    2001-01-01

    The networking of small and mediumsized dairy firms in denmark is an effective way to get new information about markets, technology, competitors and prospective possiblities to develop new products.......The networking of small and mediumsized dairy firms in denmark is an effective way to get new information about markets, technology, competitors and prospective possiblities to develop new products....

  20. The Effectiveness of Pharmaceutical Marketing

    NARCIS (Netherlands)

    E.R. Kappe

    2011-01-01

    textabstractPharmaceutical marketing effectiveness comprises the measurement of marketing efforts of pharmaceutical firms towards doctors and patients. These firms spend billions of dollars yearly to promote their prescription drugs. This dissertation provides empirical analyses and methods to

  1. Drivers of international performance of Brazilian technology-based firms

    Directory of Open Access Journals (Sweden)

    Maria Carolina Serpa Fagundes de Oliveira

    2018-01-01

    Full Text Available For Technology-Based Firms, international expansion represents an opportunity for growth and value creation. The present study was designed to analyze the role of technology-based companies (TBCs internationalization drivers on international performance. Therefore, a descriptive research was carried out with a quantitative approach performed through a survey. Data collection happened with 53 Brazilian TBCs located in innovation habitats. These data were analyzed by multivariate statistical technique. The results showed that the determinants of the international performance of Brazilian TBCs, can be set by external influencers (localization in innovation habitats, integration into global productive chains, partnerships and strategic alliances for innovation and government policies and internal influencers (innovation capability, international market orientation and international marketing skills.

  2. Marketing and finance: creating shareholder value

    OpenAIRE

    M. McDonald; B.D. Smith; K. Ward

    2013-01-01

    Written for marketing and finance directors, CEOs, and strategists, as well as MBA students, this practical book explains the principles and practice behind rigorous due diligence in marketing. It connects marketing plans and investment to the valuation of the firm and how it can contribute to increasing stakeholder value. Completely revised and updated throughout, the Second Edition features new case examples as well as a completely new first chapter containing the results of new research in...

  3. [Marketing research in health service].

    Science.gov (United States)

    Ameri, Cinzia; Fiorini, Fulvio

    2015-01-01

    Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing. The key words in this definition are: systematic, objective and analysis. Marketing research seeks to set about its task in a systematic and objective fashion. This means that a detailed and carefully designed research plan is developed in which each stage of the research is specified. Such a research plan is only considered adequate if it specifies: the research problem in concise and precise terms, the information necessary to address the problem, the methods to be employed in gathering the information and the analytical techniques to be used to interpret it. Maintaining objectivity in marketing research is essential if marketing management is to have sufficient confidence in its results to be prepared to take risky decisions based upon those results. To this end, as far as possible, marketing researchers employ the scientific method. The characteristics of the scientific method are that it translates personal prejudices, notions and opinions into explicit propositions (or hypotheses). These are tested empirically. At the same time alternative explanations of the event or phenomena of interest are given equal consideration.

  4. On the importance of forest assets for micro-firm performance

    Directory of Open Access Journals (Sweden)

    Katarina Haugen

    2013-08-01

    Full Text Available Business start-ups are on the increase, a development which is accompanied by hopes that these new firms will generate a potential for, e.g., local and regional development and a strengthening of local labour markets as well as the national economy. However, the long-term performance and viability of new firms are often rather poor. This research aims to analyse the importance of access to assets in the form of forest holdings for the performance of Swedish micro-firms. The analyses are based on official register data and fixed-effects panel regression modelling. A hypothesis is that a firm whose owner also possesses forest holdings is more viable thanks to the different resources (in the form of capital from logging or mortgaging, or non-pecuniary other values the forest holdings may provide, and which possibly contribute to the firm’s economic stability and resilience to economic fluctuations. From a general point of view, we find support for the hypothesis that forest assets positively and significantly influence firm performance in terms of earnings before interest and taxes (EBIT, but not in terms of value added. Access to forest assets is never detrimental to firm performance, although it does not have a significant positive effect in all sub-categories of entrepreneurs based on different combinations of age, gender and firm type. Particularly, the economic performance of private firms run by older men benefits from resources stemming from their forest holdings. No significant effects were found for female entrepreneurs or for limited companies. As regards regional variations, firms located outside the metropolitan regions – as compared to those at the top of the urban hierarchy – are likely to perform better, thus indicating that local development may benefit from resource transfers from the forest sector to micro-firms engaged in non-primary activities.

  5. Do Firms Believe in Interest Rate Parity?

    OpenAIRE

    Matthew R. McBrady; Sandra Mortal; Michael J. Schill

    2010-01-01

    Using a broad sample of international corporate bond offerings, we provide evidence that corporate borrowers make opportunistic currency choices, in that they denominate the currency of their bonds in a manner that is inconsistent with a belief in either covered or uncovered interest rate parity. Using firm-level tests, we identify a number of characteristics of firms that engage in opportunistic behavior. We observe that large issuers located in developed markets with investment-grade rating...

  6. Firm Size as Moderator to Non-Linear Leverage-Performance Relation: An Emerging Market Review

    Directory of Open Access Journals (Sweden)

    Umar Farooq

    2017-08-01

    such losses are more prominent for small size firms. Results also show that the leverage-performance relation is nonlinear for medium and large size firms. However, these firms are not targeting optimal level and overleveraging that ultimately decrease their profits. So, financial managers of small size firms should avoid debt financing while for large and medium size firms, managers need to adjust their debt ratio to its optimal level.

  7. Pengukuran Kinerja Perusahaan Melalui Economic Value Added (Eva) Dan (Mva) Market Value

    OpenAIRE

    Andhaniwati, Erry

    2011-01-01

    Performance corporating to constitute one of prescriptive factor gets on descent of stock price because firm performance constitute to refuse fathom for investor deeping to determine stock bid price. Economic Value Added, and Market Value Added are umpteen corporate performance grader that can be utilized by investor in assesses how well firm performance. Therefore to the effect this research is subject to be analyse influence among Economic Value Added , and Market Value Added to stock pr...

  8. 7 CFR 915.45 - Production research, marketing research and development.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 8 2010-01-01 2010-01-01 false Production research, marketing research and... Production research, marketing research and development. The committee may, with the approval of the Secretary, establish or provide for the establishment of production research, marketing research and...

  9. Mapping the Technological Capabilities of Ethiopian-owned Firms in the Apparel Global Value Chain

    DEFF Research Database (Denmark)

    Whitfield, Lindsay; Staritz, Cornelia

    firms and their positions within the apparel global value chain, as well as how they have fared and which challenges they continue to face. Generally, the 14 local exporting firms have low technological capabilities and struggle to meet export requirements, despite important diversity among them...... exporting apparel or made-up textiles. To export, local firms have to be able to deliver consistently products at a certain price and quality and to meet delivery deadlines, which require developing new technological capabilities. This paper analyses the level of capabilities among Ethiopian-owned exporting......, quality and delivery standards of export markets. Therefore, most local firms use the domestic market as a means to subsidize the cost of learning to compete, but they also use what they learn through exporting in terms of productivity, quality and design for their domestic market business....

  10. Interconnected levels of multi-stage marketing: A triadic approach

    OpenAIRE

    Vedel, Mette; Geersbro, Jens; Ritter, Thomas

    2012-01-01

    Multi-stage marketing gains increasing attention as knowledge of and influence on the customer's customer become more critical for the firm's success. Despite this increasing managerial relevance, systematic approaches for analyzing multi-stage marketing are still missing. This paper conceptualizes different levels of multi-stage marketing and illustrates these stages with a case study. In addition, a triadic perspective is introduced as an analytical tool for multi-stage marketing research. ...

  11. Africa Rising in an Emerging World: An International Marketing Perspective

    OpenAIRE

    Amankwah-Amoah, J.; Boso, Nathaniel; Debrah, Y. A.

    2017-01-01

    Purpose: The primary goal of this introductory article is to highlight important contemporary themes in international marketing strategy from the perspective of Sub-Saharan African firms. \\ud \\ud Design/methodology/approach: The approach adopted is a review and synopsis of the existing body of research on international marketing research in Sub-Saharan African, and a discussion of the manuscripts included in the special issue. \\ud \\ud Findings: International marketing in Sub-Sahara Africa is ...

  12. Intellectual capital in the theory of the firm

    OpenAIRE

    Rađenović, Tamara; Krstić, Bojan

    2017-01-01

    Intellectual capital has an inevitable role in the value creation process and represents significant determinant of the firms' market success. In the contemporary circumstances, firms achieve and sustain their competitive advantages by mobilising and profitably exploiting intellectual resources. Therefore, the aim of this paper is to overview the evolutionary process of intellectual capital through theoretical examinations of different theories. The first notion of intellectual capital is con...

  13. The Market for Fake Observations

    OpenAIRE

    Brekke, Kjellr Arne; Nilsen , Tore

    2011-01-01

    We show how increased competition in a media market may have implications for the competition between firms that are advertising in that medium. We apply a simple model of a product market with network externalities where firms buy advertising space in a media market and find that there is more entry in the product market, the more competitive the media market is. The paper is the first combining a study of media markets with a behavioral foundation of how advertising affects the demand for t...

  14. Uncovering the Hidden Transaction Costs of Market Power

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai J.; Klein, Peter G.

    2018-01-01

    A central construct in competitive strategy research is market power, the ability to raise price above marginal cost. Positioning research focuses on attempts to build, protect, and exercise market power. However, this approach contains hidden assumptions about transaction costs. Parties made worse...... off by the exercise of market power can negotiate, bargain, form coalitions, and otherwise contract around the focal firm's attempts to appropriate monopoly profits—depending on transaction costs. We build on property rights economics to explain how transaction costs affect positioning and offer...

  15. Modeling variation in global consumer’ participation behaviour intentions using an institutional market index

    NARCIS (Netherlands)

    Schumann, J.H.; Nijssen, E.J.; Lentz, P.

    2014-01-01

    Purpose Enhancing customer participation behaviour (CPB) is critical for service firms. However, in a global context, cultural and local market factors are relevant. This study details how and why global service firms can and should account for such factors. Prior research relied on cultural value

  16. Firm heterogeneity, investment, and industry expansion: a theoretical framework and the case of the uranium industry

    International Nuclear Information System (INIS)

    Cohen, W.M.

    1981-01-01

    The distinguishing feature of this investment analysis is its consideration of firm-specific variables. The theoretical section proposes that firm investment and, in turn, industry expansion are determined by firm-specific corporate variables in addition to the typically considered variables characterizing the firm's experience and expected conditions in a given market, such as rate of growth of demand, price, cost of capital, degree of utilization of capacity, etc. The framework is applied to the uranium mining and milling industry. Descriptive analysis is used to trace the history of the uranium industry in aggregate terms and also as an evolving roster of participating firms with different attributes. The market structure of the industry is also examined. The corporate variables framework is tested statistically in a single-equation, fixed-effects model of uranium exploration behavior, estimated on pooled cross section and time-series data. The postulated corporate variables, except internal firm structure, are combined with market variables in a model which attempts to explain the exploration behavior of 24 firms in the uranium industry from 1973 through 1979. The results indicate that cash flow and exploration expertise influence firms' level of exploration effort. However, differences among firms' intermarket investment strategies do not differentiate the magnitude of their exploration programs

  17. ASSESSING THE NON-FINANCIAL PREDICTORS OF THE SUCCESS AND FAILURE OF YOUNG FIRMS IN THE NETHERLANDS

    Directory of Open Access Journals (Sweden)

    Philip VERGAUWEN

    2005-01-01

    Full Text Available In this study, the Lussier (1995 success and failure prediction model is improved and tested on asample of Dutch firms. Besides clearly defining a specific business plan, work experience is added asa variable, and contrary to previous researches, the discrete variables are dealt with appropriate thistime. The results of this improved model show that product/service timing, planning, managementexperience, knowledge of marketing, economic timing, professional advice, and having a businesspartner are predictors of success and failure for young firms in the Netherlands.

  18. Holcim (Italia) SpA. Segmenting and Targeting Business Markets

    OpenAIRE

    G. PADULA

    2004-01-01

    The case study presents a huge set of data, both market data and firm data, and encourages students to: analyse the market and competitive environment of the firm; evaluate the current segmentation, targeting and positioning strategy of the firm; take marketing strategic decisions in the areas of segmentation, targeting, positioning.

  19. Personální marketing

    OpenAIRE

    Maršíková, Linda

    2008-01-01

    This thesis discuss the topic of the recruitment marketing, with it's principles, functioning, goals and instruments. Topic is separated into two parts, external a nd internal. These parts are analysed out below. The usage of the recruitment marketing is described on the sample of the company IKEA, Czech republic. The tesis is finished in the project of the recruitment strategy for mentioned firm, which is based on the results of the accomplished research.

  20. FROM INDUSTRIAL DISTRICTS TO FIRMS NETWORKS: THE ITALIAN CASE

    Directory of Open Access Journals (Sweden)

    colantonio emiliano

    2014-12-01

    Full Text Available The local source for competitiveness is vital to achieve static and dynamic economies of scale for firms; it is useful to interact with the aim of learning and innovating. The local system can create benefit by opening to international markets and it should be a good source of knowledge and technology. Nowadays, the concept of industrial district, usually characterized by the spatial proximity of the involved firms, may evolve into firms network; this may emphasize the advantages deriving from cooperation, without the need of spatial proximity. Firms networks may represent the evolution of industrial districts, where territoriality is overcome by the dissolution of borders. The importance of firms networks is increased since they intensify information exchange, continuous learning, stimulate economies of scale, allow economic development and give more market opportunities. Firms networks share different aims, resource, common interests and factors, like material and immaterial inputs and outputs. This new form of cooperation may allow to overcome physical distance and replicate knowledge and information. Firms networks may represent a success organizational forms that may give impetus to development in an economy. They are based on mutual trust between partners and are created over time to facilitate information circulation, knowledge dissemination and innovation. Trust reduces uncertainty and transaction cost and limits the opportunistic behaviour by free-rider agents. The aim of the paper is to assess the determinants for firms networks training in the Italian context using regional data. Particularly, the firms networks development needs key factors such as ICTs diffusion, high rate of social security, open capability, RxD activities. These factor constitute the basis for a new kind of capital, the so called “network capital”. It consists of collaborative practices in a network as the result of cooperation in the ICTs era. Network capital

  1. The Firm as an Institution : Recent Evolution in the Contractual Perspective

    OpenAIRE

    Liliana BASILE; Paola CASAVOLA

    1994-01-01

    The aim of this paper is to clarify the connection between types of firms and types of assumptions about the information structure. Building on the role of information structure, notions of the firm as an organisation have been put forward which suggest that the firm can assume an alternative (to the market) coordinating role in conditions of contractual incompleteness. A comparison (and opposition) between two recent approaches to the theory of the firm as an organisation seems to suggest th...

  2. Relationship between the international marketing research and the international marketing information system

    OpenAIRE

    Grubor Aleksandar

    2004-01-01

    Real and complete understanding relationship between the international marketing research and the international marketing information system requires recognizing essentials of the both concept. The international marketing research constitutes a process with coherent phases, whereas the international marketing information system is a part of integrated company's information system. Approach to learning relationship between the international marketing research and the international marketing in...

  3. Does managerial behavior of managing earnings mitigate the relationship between corporate governance and firm value? Evidence from an emerging market

    Directory of Open Access Journals (Sweden)

    Mian Sajid Nazir

    2018-06-01

    Full Text Available The relationship between corporate governance and managerial choices for value creation is a topic of continuing interest for researchers. One of most significant managerial decisions that affect value is Discretionary Earnings Management (DEM which is the judgmental adjustments in firm's reported accounting earnings by managers to upsurge firm value temporarily. Effective corporate governance structure to control this opportunistic behavior of mangers can presumably make accounting earnings more reliable and more informative for the stakeholders and hence, increase firm value. Based on 1944 firm year observations for listed firms in Pakistan, this study aims at to analyze the role of corporate governance in enhancing firm value along with the moderating role of DEM using models proposed by Kasznik (1999 and Beatty, Ke, & Petroni (2002 for detecting earnings management practices of managers. The results report that corporate governance significantly and positively influences firm value confirming the positive role of corporate governance in mitigating agency problem and enhancing the firm value. Moreover, corporate governance mechanisms may mitigate the managers’ opportunistic behavior of manipulating the reported earnings. Furthermore, the results report that the behavior of managers is opportunistic towards managing earnings and they are destroying the current and subsequent firm value by manipulating the reported accounting earning. Finally, this opportunistic behavior of managers to manipulate earnings is negatively moderating the well-established positive relationship of corporate governance and firm value. Keywords: Corporate governance, Firm value, Discretionary earnings management, Opportunistic behavior, Kasznik model, Moderating effect

  4. Female Hires and the Success of Start-up Firms

    OpenAIRE

    Weber, Andrea; Zulehner, Christine

    2009-01-01

    In this paper we investigate the relationship between females among the first hires of start-up companies and business success. Our results show that firms with female first hires have a higher share of female workers at the end of the first year after entry. Further, we find that firms with female first hires are more successful and stay longer in the market. We conclude that our results support the hypothesis that gender-diversity in leading positions is an advantage for start-up firms.

  5. Cost Linkages Transmit Volatility Across Markets

    DEFF Research Database (Denmark)

    Nguyen, Daniel Xuyen; Schaur, Georg

    We present and test a model relating a firm's idiosyncratic cost, its exporting status, and the volatilities of its domestic and export sales. In prior models of trade, supply costs for domestic and exports were linear and thus additively separable. We introduce a nonlinear cost function in order...... to link the domestic and export supply costs. This theoretical contribution has two new implications for the exporting firm. First, the demand volatility in the foreign market now directly affects the firm's domestic sales volatility. Second, firms hedge domestic demand volatility with exports. The model...... has several testable predictions. First, larger firms have lower total and domestic sales volatilities. Second, foreign market volatility increases domestic sales volatilities for exporters. Third, exporters allocate output across both markets in order to reduce total sales volatility. We find...

  6. INV Market Entry: Legitimation and Capability

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    and concerns. The author of this paper was hired as CEO in September 2005 by INV-NGO to start-up, grow and lead its branch in an emerging market. The events and incidents occurred between 2005 and 2009. The approach of narrating organization is employed to present, analyze and interpret the data. A number......This paper explores external and internal critical incidents that shape the emergence of new forms and ways of organizing in a new venture that was launched in an emerging market by an international new non-for-profit organization. The paper responds to extant criticism that most of the knowledge...... about the internal organization of firms comes from the research on large established organizations and that the research aimed to understand internal organization of entrepreneurial ventures is scarce. Theoretically the paper is grounded within legitimation and dynamic capability theories of the firm...

  7. A Technique For Developing Strategic Differentiation For Small Architectural Firms

    NARCIS (Netherlands)

    Heintz, John Linke; Aranda-Mena, Guillermo; Saari, Arto; Houvinen, Pekka

    2016-01-01

    Since the crash in 2007, the number of small architectural firms has risen dramatically as both recently graduated and recently laid off architects decide to go out on their own. In such a crowded market firms will need to find some way to distinguish themselves from their many competitors. Arguing

  8. Core-firm Based View on the Mechanism of Constructing a Corporate Innovation Ecosystem

    DEFF Research Database (Denmark)

    Jiang, Shimei; Wang, Ziyuan; Hu, Yimei

    2016-01-01

    The fierce transformation of the competitive status of business world in the 21st century has urged the innovation activities turned from mechanistic and deterministic to ecological and organic. The study firstly defines the concept of core firm based on reviewing existing corporate innovation...... constructing a corporate innovation ecosystem through building up an innovation platform that include multi-level collaborative relationships based on different technologies; while at the same time integrating non-technological issues such as strategy, culture, management, organization, institution and market....... This research complements and extends literature on corporate innovation ecosystem, and provides implications to innovative companies on constructing a core firm based innovation ecosystem....

  9. Market Orientation, Innovativeness, and Performance of Food Companies

    OpenAIRE

    Johnson, Aaron J.; Dibrell, Charles Clay; Hansen, Eric

    2009-01-01

    Food processors have seen escalating levels of competition over the past three decades. An underlying objective of this research is to gain a greater understanding of how food companies thrive in the face of this increased competition. This study incorporates market orientation theory (competitor orientation, customer orientation, and interfunctional coordination) and firm innovativeness to explain differences in firm financial performance. A national survey of food processors was conducted a...

  10. Market information acquisition: a prerequisite for successful strategic entrepreneurship

    OpenAIRE

    Garri, Myropi; Konstantopoulos, N.

    2013-01-01

    This paper investigates on the types of information used by managers and entrepreneurs, so as to conduct market research and to evaluate market potential.The authors examine five major sets of variables to understand their impact on firms’ information market search effort. Empirical results based on a survey of Greek enterprises provide support for these factors in predicting firms’ market information acquisition. Findings on structural and administrative characteristics of the firms support ...

  11. Market Segmentation and Conjoint Analysis for Apple Family Design

    OpenAIRE

    Abbas Al-Refaie; Nour Bata

    2016-01-01

    A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimate...

  12. The Marketing Firm: Operant Interpretation of Corporate Behavior

    Science.gov (United States)

    Vella, Kevin J.; Foxall, Gordon R.

    2013-01-01

    In this article we address the issue of applying operant psychology to derive plausible and useful interpretations of complex firm behavior in natural settings. The objective is to discuss an appropriate methodology based on case study design, developed specifically in Vella and Foxall (2011), to produce an operant interpretation of secondary…

  13. Determinants of the capital structure of Portuguese firms with investments in Angola

    Directory of Open Access Journals (Sweden)

    Jorge H.F. Mota

    2017-02-01

    Full Text Available Background: This article seeks to complement the previous literature and clarify the particularities of the capital structure policy of firms with foreign direct investment in Angola. Aim: This article seeks to identify the determinants of the capital structure of Portuguese firms with direct investment in Angola and to understand whether the determinants normally considered by standard finance theory are in line with those used by firms when structuring their capital structure policy to participate in the specific market of Angola. Setting: This article examines 26 large Portuguese firms with investments in Angola using econometric panel data for the period 2006–2010. Methods: The study applied fixed and random effects methods and panel-corrected standard errors that maintain efficiency and unbiased behaviour even in the presence of panel-level heteroscedasticity and contemporaneous correlation of observations among panels. Results: The results provide evidence that the determinants normally considered by standard finance theory are in fact – in terms of sign and coefficient dimension – those used by firms for structuring their capital structure policy when involved in the internationalisation process of entering Angola. Specifically, age, asset structure, return on assets and tangibility have a positive influence on the capital structure of Portuguese firms that have invested in Angola, while non-debt tax shields and liquidity have a negative influence on these companies’ leverage ratios. When comparing our results with studies that have analysed the capital structure determinants of listed Portuguese firmsfirms belonging to the PSI 20 Index and large firms in the Portuguese corporate sector – we found similarities in the sign and coefficient dimension of the determinants of capital structure. However, the profitability coefficient sign is in line with the trade-off framework (i.e. profitability is positively related to debt but

  14. Changes of firm size distribution: The case of Korea

    Science.gov (United States)

    Kang, Sang Hoon; Jiang, Zhuhua; Cheong, Chongcheul; Yoon, Seong-Min

    2011-01-01

    In this paper, the distribution and inequality of firm sizes is evaluated for the Korean firms listed on the stock markets. Using the amount of sales, total assets, capital, and the number of employees, respectively, as a proxy for firm sizes, we find that the upper tail of the Korean firm size distribution can be described by power-law distributions rather than lognormal distributions. Then, we estimate the Zipf parameters of the firm sizes and assess the changes in the magnitude of the exponents. The results show that the calculated Zipf exponents over time increased prior to the financial crisis, but decreased after the crisis. This pattern implies that the degree of inequality in Korean firm sizes had severely deepened prior to the crisis, but lessened after the crisis. Overall, the distribution of Korean firm sizes changes over time, and Zipf’s law is not universal but does hold as a special case.

  15. How Does Top Managers' Cognition about Corporate Resources Influence Firm Growth?

    DEFF Research Database (Denmark)

    Distel, Andreas Philipp

    conceptualization is lacking and it remains unclear under what conditions resource cognition leads to superior firm performance. Drawing on the Penrosian view and the dynamic managerial capabilities perspective, this study further develops resource cognition in terms of top managers’ cognitions about the firm......’s technology- and market-related resources. Using multi-source data of firms operating in a dynamic industry, we investigate how resource cognition affects firm growth. We also explore the contingent role of decentralization and top management team size as important structural elements determining...

  16. 7 CFR 925.45 - Production research and market research and development.

    Science.gov (United States)

    2010-01-01

    ... Secretary, may establish or provide for the establishment of production research, marketing research and... 7 Agriculture 8 2010-01-01 2010-01-01 false Production research and market research and...) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF...

  17. Internet Marketing Research: Opportunities and Problems

    NARCIS (Netherlands)

    Furrer, O.F.G.; Sudharshan, D.

    2001-01-01

    The Internet is promised a brilliant future among the favorite tools of marketing researchers. Develops a typology of Internet marketing surveys showing the existence of eight different designs that can be used by marketers. However, researchers who plan to develop research using the Internet need

  18. The Emergence of the Lean Global Startup as a New Type of Firm

    Directory of Open Access Journals (Sweden)

    Erik Stavnsager Rasmussen

    2015-11-01

    Full Text Available This article contributes to the interplay between international entrepreneurship, innovation networks, and early internationalization research by emphasizing the need to conceptualize and introduce a new type of firm: the lean global startup. It discussed two different paths in linking the lean startup and born-global internationalization strategies. The first path refers to generic lean startups that have undertaken a rapid internationalization strategy (i.e., lean-to-global startups. The second path refers to startups that have started operating on global scale since their inception and adopted the lean startup approach by seamlessly synergizing their global and lean product development activities. The article emphasizes several aspects that could be used as part of the theoretical foundation for conceptualizing lean global startups as a special new type of firm: i the emergent nature of their business models, including the challenges of partnership development on a global scale; ii the inherently relational nature of the global resource allocation processes; iii the integration of the entrepreneurial, effectuation, and global marketing perspectives; iv the need to deal with a high degree of uncertainty, including the uncertainty associated with cross-border business operations; and v linking the ex-ante characteristics of lean startups with the ex-post characteristics of born-global firms in order to develop a technology adoption marketing perspective that considers the “crossing the chasm” process as a successful entry into a global market niche.

  19. RISK MANAGEMENT WITH FINANCIAL DERIVATIVES: EMPIRICAL EVIDENCE FROM ROMANIAN NON-FINANCIAL FIRMS

    Directory of Open Access Journals (Sweden)

    Sorin Gabriel Anton

    2016-12-01

    Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is

  20. Market-Orientation and Corporate Performance

    OpenAIRE

    Jean-Jacques Lambin; Ruben Chumpitaz

    2001-01-01

    Market-orientation is generally referred to the basic orientation that governs the relationship of a firm with its market and, more particularly, with its customers. Now, in many firms, MO is treated like the marketing concept. This traditional view of MO has two main drawbacks: first of all it overlooks market actors other than customer (i.e. distributors, competitors and prescribers). Then, this functional perspective leads to confine the concept of MO to the activities generally conducted ...

  1. Socially responsible marketing decisions - scale development

    Directory of Open Access Journals (Sweden)

    Dina Lončarić

    2009-07-01

    Full Text Available The purpose of this research is to develop a measurement scale for evaluating the implementation level of the concept of social responsibility in taking marketing decisions, in accordance with a paradigm of the quality-of-life marketing. A new scale of "socially responsible marketing decisions" has been formed and its content validity, reliability and dimensionality have been analyzed. The scale has been tested on a sample of the most successful Croatian firms. The research results lead us to conclude that the scale has satisfactory psychometric characteristics but that it is necessary to improve it by generating new items and by testing it on a greater number of samples.

  2. Optimal Entry Timing in Markets with Social Influence

    OpenAIRE

    Yogesh V. Joshi; David J. Reibstein; Z. John Zhang

    2009-01-01

    Firms routinely face the challenging decision of whether to enter a new market where a firm's strong presence in an existing market has a positive influence (the leverage effect) on product adoption in the new market, but the reciprocal social influence on the existing market is negative (the backlash effect). In this paper, we show that a firm's optimal entry strategy in this situation cannot be characterized by the familiar "now or never" or "now or at maturity" strategies proposed in the l...

  3. Does Input Quality Drive Measured Differences in Firm Productivity?

    DEFF Research Database (Denmark)

    Fox, Jeremy T.; Smeets, Valerie Anne Rolande

    is roughly of the same order of magnitude as some competitive effects found in the literature, but input quality measures do not explain most productivity dispersion, despite economically large production function coefficients. We find that the wage bill explains as much dispersion as human capital measures.......Firms in the same industry can differ in measured productivity by multiples of 3. Griliches (1957) suggests one explanation: the quality of inputs differs across firms. We add labor market history variables such as experience and firm and industry tenure, as well as general human capital measures...

  4. Ethiopian-owned firms in the floriculture global value chain

    DEFF Research Database (Denmark)

    Melese, Ayelech Tiruwha

    and export trajectories of Ethiopian-owned firms engaged in cut-flower production for export. It constructs a technological capability matrix that describes the specific capabilities required to enter and operate in different parts of the floriculture global value chain, adjusted for the specificities...... of the Ethiopian industry, and uses this matrix to design a local firm survey to assess firms’ capabilities across four categories: product and production process, input integration, linkages and end-market. The survey was carried out with almost all local firms. The aggregate technological capability scores show...

  5. A game theoretic model of the Northwestern European electricity market-market power and the environment

    International Nuclear Information System (INIS)

    Lise, Wietze; Linderhof, Vincent; Kuik, Onno; Kemfert, Claudia; Ostling, Robert; Heinzow, Thomas

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions)

  6. Product market competition and corporate governance

    Directory of Open Access Journals (Sweden)

    Julia Chou

    2011-04-01

    Full Text Available This paper investigates whether product market competition acts as an external mechanism for disciplining management and also whether there is any relationship between the degree of competition a firm faces and its corporate governance. We find that firms in competitive industries or with low market power tend to have weak corporate governance structures. Results are robust to various competition measures at firm and industry levels, even after controlling for firm-specific variables. We further find that corporate governance quality has a significant effect on performance only when product market competition is weak. The overall evidence suggests that product market competition has a substantial impact on corporate governance and that it substitutes for corporate governance quality. Finally, we provide evidence that the disciplinary force of competition on management is from the fear of liquidation.

  7. Relationship between the international marketing research and the international marketing information system

    Directory of Open Access Journals (Sweden)

    Grubor Aleksandar

    2004-01-01

    Full Text Available Real and complete understanding relationship between the international marketing research and the international marketing information system requires recognizing essentials of the both concept. The international marketing research constitutes a process with coherent phases, whereas the international marketing information system is a part of integrated company's information system. Approach to learning relationship between the international marketing research and the international marketing information system is distinguish in domestic than in the foreign expert literature.

  8. Does Increased Spending on Pharmaceutical Marketing Inhibit Pioneering Innovation?

    Science.gov (United States)

    Arnold, Denis G; Troyer, Jennifer L

    2016-04-01

    The pharmaceutical industry has been criticized for developing and aggressively marketing drugs that do not provide significant health benefits relative to existing drugs but retain the benefits of patent protection. Critics argue that drug marketing increases health care expenditures and provides a disincentive for pioneering drug innovation. However, evidence that marketing expenditures have any relationship to new drug approvals has been anecdotal. We hypothesized that, at publicly traded pharmaceutical firms, increased marketing expenditures will result in a reduced volume of pioneering new drugs in comparison to less innovative new drugs. We also hypothesized that additional research and development spending will result in an increased volume of pioneering new drugs in comparison to less innovative drugs. Results confirm our hypotheses. Specific policy recommendations for altering firms' incentives for the development of pioneering drugs are provided. Copyright © 2016 by Duke University Press.

  9. Survey the Role of Brand in Formation of Customer Loyalty in Financial Services Marketing by the Approach of Small Firms

    OpenAIRE

    Gholamreza Jandaghi; Alireza Amini; Parvaneh Pirani; Zahra Amini; Hasan Kharazi

    2011-01-01

    One of elements which have received considerable attention in relationship marketing is customer loyalty. Brand is one of construct contributes to the formation of customer loyalty. Thus this study investigates the relationship between customer loyalty and brand. In this regards, using conceptual model, relationship between satisfaction, value, resistance to change, affect, trust and brand equity with customer loyalty has been hypothesized. Data was collected from 193 firms in 22 regions of t...

  10. Tensions Between Firm Size and Sustainability Goals: Fair Trade Coffee in the United States

    Directory of Open Access Journals (Sweden)

    Philip H. Howard

    2013-01-01

    Full Text Available Sustainability marketing trends have typically been led by smaller, more mission-driven firms, but are increasingly attracting larger, more profit-driven firms. Studying the strategies of firms that are moving away from these two poles (i.e., mission-driven but larger firms, and profit-driven firms that are more committed to sustainability may help us to better understand the potential to resolve tensions between firm size and sustainability goals. We used this approach to analyze a case study of the U.S. fair trade coffee industry, employing the methods of data visualization and media content analysis. We identified three firms that account for the highest proportion of U.S. fair trade coffee purchases (Equal Exchange, Green Mountain Coffee Roasters and Starbucks and analyzed their strategies, including reactions to recent changes in U.S. fair trade standards. We found an inverse relationship between firm size and demonstrated commitment to sustainability ideals, and the two larger firms were much less likely to acknowledge conflicts between size and sustainability in their public discourse. We conclude that similar efforts to increase sustainability marketing for other products and services should be more skeptical of approaches that rely on primarily on the participation of large, profit-driven firms.

  11. Pazarlama Performans Ölçütleri: Bir Literatür Taraması(Marketing Metrics: A Literature Review

    Directory of Open Access Journals (Sweden)

    Güngör HACIOĞLU

    2012-01-01

    Full Text Available Marketing’s inability to measure its contribution to firm performance leads to losing its status in the firm, and therefore recently marketing function is under increasing pressure to evaluate its performance and be accountable. In this context, determining appropriate metrics to measure marketing performance is discussed by both marketing practitioners and scholars. The aim of this study is to review the literature on marketing metrics used to measure marketing performance and importance attached to these metrics. Besides, some forces elevating the importance of marketing metrics, difficulties and criticism of measuring marketing performance will be explicated. Also, managerial applications and future research opportunities are presented.

  12. 48 CFR 810.001 - Market research policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Market research policy... COMPETITION AND ACQUISITION PLANNING MARKET RESEARCH 810.001 Market research policy. When conducting market research, VA contracting teams shall use the VIP database, at http://www.VetBiz.gov, in addition to other...

  13. Essays on Firm Behavior in Developing Economies

    Science.gov (United States)

    Abeberese, Ama Baafra

    The performance of firms is central to growth in developing economies. A burgeoning literature within development economics seeks to understand the behavior of firms in developing countries and the constraints to their performance. This dissertation explores two types of constraints---infrastructure-related constraints and trade-related constraints---faced by manufacturing firms in developing countries. Despite the widely acknowledged importance of infrastructure for economic growth, there has been relatively little research on how infrastructure affects the decisions of firms. Electricity, in particular, is commonly cited by firms in developing countries as a major obstacle to their performance. In the first two chapters, I analyze the responses of firms to two types of electricity constraints, namely electricity prices and electricity shortages. Chapter 1 provides evidence on how electricity prices affect a firm's industry choice and productivity growth using data on Indian manufacturing firms. I construct an instrument for electricity price as the interaction between the price of coal paid by power utilities, which is arguably exogenous to firm characteristics, and the initial share of thermal generation in a state's total electricity generation capacity. I find that, in response to an exogenous increase in electricity price, firms reduce their electricity consumption and switch to industries with less electricity-intensive production processes. I also find that firm output, machine intensity and labor productivity decline with an increase in electricity price. In addition to these level effects, I show that firm output and productivity growth rates are negatively affected by high electricity prices. These results suggest that electricity constraints faced by firms may limit a country's growth by leading firms to operate in industries with fewer productivity-enhancing opportunities. Chapter 2 examines the impact of electricity shortages on firm investment. I

  14. A "New" Approach to Local Labor Market Analysis: A Feasibility Study.

    Science.gov (United States)

    Goldfarb, Robert; Hamermesh, Daniel

    This report describes research on the New Haven labor market carried out during the summer and fall of 1969 and the spring of 1970. The aims of the research were to develop further the theoretical approach to micro-labor economics in a local labor market and to test the feasibility of collecting data from local firms which could be used to test…

  15. Healthy vs. unhealthy food: a strategic choice for firms and consumers.

    Science.gov (United States)

    Antoñanzas, Fernando; Rodríguez-Ibeas, Roberto

    2011-07-20

    In this paper, we carry out a theoretical analysis of the strategic choice made by firms regarding the type of food they market when they face consumers who care about the healthy/unhealthy attributes of the product but incur in emotional/health costs when the food they consume has unhealthy attributes. We consider a two-stage game. In the first stage, one of the firms chooses the unhealthy content of its product. In the second stage, both firms simultaneously decide their prices. We find that, depending on the parameters of the model, product differentiation can be maximal or less than maximal. The firm that produces the unhealthy food charges a higher price and obtains a larger share of the market unless the emotional/health costs and the unhealthy food production costs are relatively high. We also find that educational campaigns will not always reduce the demand for the unhealthy food or the degree of the unhealthy attribute.JEL Classification:I10, I18, L11.

  16. Private incentives to vertical disintegration among firms with heterogeneous objectives

    OpenAIRE

    Rossini, Gianpaolo

    2003-01-01

    A vertically integrated monopoly is compared to a decentralized market arrangement where production is segmented. A Labor Managed firm produces an input used by a profit maximizer manufacturer of a final good. Unlike what usually occurs between homogeneous firms we find circumstances in which the decentralised vertical arrangement is privately superior to the integrated one.

  17. An exploratory study of international marketing in India: Indian firms, multinationals and their competitiveness

    OpenAIRE

    Oburai, Prathap

    2004-01-01

    Indian firms are more international than ever before. Internationalisation drives and export orientation are prominent in the organisational strategies of a number of leading Indian firms and multinationals located in India. This is a significant indicator of the growing competitiveness of firms, industries and the nation. This paper examines the sources of competitive advantages in a few chosen sectors, selected firms, and explores the internationalisation possibilities and potential. Intern...

  18. Views of CEOs on Firm Performance

    Directory of Open Access Journals (Sweden)

    Dario Berginc

    2014-11-01

    Full Text Available Researching the managerial perspective of performance can contribute to a better understanding of firm performance, and offer a valuable contribution to research on objective performance measurement. The aim of this article is to examine how managers evaluate firm performance and which factors, in their opinion, have the biggest influence on performance. We particularly wanted to investigate the influence of top management and owners on firm performance. We conducted a qualitative study among the CEOs of some of the most successful Slovenian firms. The results show that CEOs connect positive performance with long-term growth and satisfying the needs of key stakeholders (employees, customers and owners, but short-term positive financial performance represents the basic foundation. The second most important factor is a united top management, capable of generating new ideas and acting as a role model to employees. This can lead to a higher degree of engagement by employees and a better understanding of the firm's goals. Owners can contribute to a positive firm performance with their active, strategic and long-term orientation, and with their ability to set clear goals and to trust top management in the long run. Another important factor that influences firm performance is the ownership structure. In the opinion of CEOs, dominant and private ownership has a more positive impact on firm performance than dispersed and state ownership. The present research findings provide several examples of good and bad practice, and highlight opportunities for further research, from an in-depth study of individual factors of firm performance to the search for a more comprehensive model of performance factors, based on a larger sample of CEOs and other managers.

  19. [Marketing mix in health service].

    Science.gov (United States)

    Ameri, Cinzia; Fiorini, Fulvio

    2015-01-01

    The marketing mix is the combination of the marketing variables that a firm employs with the purpose to achieve the expected volume of business within its market. In the sale of goods, four variables compose the marketing mix (4 Ps): Product, Price, Point of sale and Promotion. In the case of providing services, three further elements play a role: Personnel, Physical Evidence and Processes (7 Ps). The marketing mix must be addressed to the consumers as well as to the employees of the providing firm. Furthermore, it must be interpreted as employees ability to satisfy customers (interactive marketing).

  20. Informative Advertising in Concentrated, Differentiated Markets

    OpenAIRE

    Hamilton, Stephen F.

    2004-01-01

    I examine the welfare implications of informative advertising in a differentiated product duopoly market. The analysis reconciles the apparently conflicting results in previous studies that find advertising to be undersupplied in homogeneous product markets and in differentiated markets with a limited number of firms, but oversupplied in differentiated markets with a large number of firms. In equilibrium, purely informative advertising is always overprovided when the degree of product differe...

  1. Shared vision promotes family firm performance.

    Science.gov (United States)

    Neff, John E

    2015-01-01

    A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS), Role Clarity (RCL), Confidence in Management (CON), and Professional Networking (OLN) that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR), the functional integrity of the family itself, exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC) that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  2. Shared Vision promotes family firm performance

    Directory of Open Access Journals (Sweden)

    John Edward Neff

    2015-05-01

    Full Text Available A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS, Role Clarity (RCL, Confidence in Management (CON, and Professional Networking (OLN that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR, the functional integrity of the family itself exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  3. Gender Segregation Small Firms

    OpenAIRE

    Kenneth R Troske; William J Carrington

    1992-01-01

    This paper studies interfirm gender segregation in a unique sample of small employers. We focus on small firms because previous research on interfirm segregation has studied only large firms and because it is easier to link the demographic characteristics of employers and employees in small firms. This latter feature permits an assessment of the role of employer discrimination in creating gender segregation. Our first finding is that interfirm segregation is prevalent among small employers. I...

  4. Unbundled infrastructure firms: Competition and continuing regulation

    Science.gov (United States)

    Hogendorn, Christiaan Paul

    Unbundled infrastructure firms provide conduits for electricity transmission, residential communications, etc. but are vertically disintegrated from "content" functions such as electricity generation or world-wide-web pages. These conduits are being deregulated, and this dissertation examines whether the deregulated conduits will behave in an efficient and competitive manner. The dissertation presents three essays, each of which develops a theoretical model of the behavior of conduit firms in a market environment. The first essay considers the prospects for competition between multiple conduits in the emerging market for broadband (high-speed) residential Internet access. It finds that such competition is likely to emerge as demand for these services increase. The second essay shows how a monopoly electricity or natural gas transmission conduit can facilitate collusion between suppliers of the good. It shows that this is an inefficient effect of standard price-cap regulation. The third essay considers the supply chain of residential Internet access and evaluates proposed "open access" regulation that would allow more than one firm to serve customers over the same physical infrastructure. It shows that the amount of content available to consumers does not necessarily increase under open access.

  5. Strategický marketing ve vybrané firmě

    OpenAIRE

    POŠVECOVÁ, Lenka

    2016-01-01

    The aim of the thesis is to suggest a marketing strategy for a specific company, including the marketing plan in order to deal with possible changes resulting from the current situation. Strategic marketing process, which is based on the strategic management process consists of planning, implementation and control. On the basis of marketing situational analysis SWOT analysis was set up, marketing objectives were defined, strategies were formulated and a marketing plan was suggested. The imple...

  6. Reducing Information Gap and Increasing Market Orientation in the Agribusiness Sector: Some Evidences from Apulia Region.

    Science.gov (United States)

    Contò, Francesco; Santini, Cristina; La Sala, Piermichele; Fiore, Mariantonietta

    2016-01-01

    Market orientation plays a crucial role in reinforcing firm's competitive advantage; nevertheless, marketing myopia can negatively affect a clear perception of the market. An organization that defines itself by product rather than by market terms is probably affected by marketing myopia, a narrowness of mind towards any newness - newness respect to firms' convincement and routines - coming from the external environment. In that context some scientific relevant developments that comes from recent patents have been considered. This paper explores the determinants of marketing myopia in the Apulia wine business (South Italy). The aim of this paper is to describe how experiential research based on Consumer Science research tools, can facilitate a better market knowledge. Experimental sessions carried out in 2013 in Apulia with a group of professionals from the oil and wine sectors clearly demonstrate how country of origin effect can improve marketing myopia. Through a protocol based on an "academicians - practitioners" model, professionals can be facilitated in their strategy formulation.

  7. Fundamentals, financial factors and firm investment in India: A Panel VAR approach

    OpenAIRE

    Das, Pranab Kumar

    2008-01-01

    This study analyses the role of fundamentals and financial factors in determining firm investment in India with imperfect capital market in a panel VAR framework. Previous research in this area is based on the test of significance (or some variant of this) of the cash flow variable in the investment equation. In this strand of research, cash flow is considered to be a financial factor. The major theoretical problem of this approach is that in a forward-looking model cash flow might be cor...

  8. On the Differential Market Reaction to Dividend Announcement: Evidence from an Emerging Equity Market

    Directory of Open Access Journals (Sweden)

    Muntazir Hussain

    2013-09-01

    Full Text Available The corporate finance literature for market reaction to dividend announcements reports mixed results: some of studies support a positive response of markets as a result of dividend announcement whereas some report negative. This study is an attempt to investigate the heterogeneous market reaction to dividend announcement for 73 firms listed in the Karachi Stock Exchange. We investigated this phenomenon with a novel methodology using both the event study and multivariate regression for the possible effects of firm-specific factors associated with dividend announcements. We report that the market reaction is one-sided as the majority of companies in the sample are with positive CAR for the given period. We cannot ignore the importance of firm-specific factors that have an effect on the dividends but we conclude that the majority of companies in the sample period portray a positive CAR and the market reaction is positive.

  9. Competitive Dynamics of Market Entry: Scale and Survival

    Directory of Open Access Journals (Sweden)

    John W. UPSON

    2017-06-01

    Full Text Available Market entry is the essence of strategy and is largely viewed as a dichotomous event: entry or no entry. What has not been acknowledged is the uniqueness of each market entry. Our study highlights the scale of market entry in the context of multipoint competition. We assert that entry scale varies based on the risk of market incumbent retaliation. Theory suggests that when risk associated with retaliation are low, firms enter with large scale and when associated risks are high, firms enter with low scale. Further, survival is viewed as dependent on following theory. We argue and find supporting evidence that firms behave in the opposite manner and do so to their own benefit, thereby revealing a unique discrepancy between theory and practice among 75 product market entries by 27 firms.

  10. The Intercultural Marketing Competence of Software Subcontractors: Toward a Conceptual Framework

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    2002-01-01

    As part of a research project on cooperation between Nordic software development subcontractors and their foreign customers, the dynamics of intercultural marketing competence are being examined. This paper builds a conceptual bridge by developing a definition of a software subcontracting firm......'s intercultural marketing competence on the basis of (a) socio-psychological and human resource management definitions of intercultural competence at the level of individuals and (b) definitions of organizational competence from the resource-based perspective. Furthermore a model of the dynamics...... of this competence is presented. In connection with the model, key economic aspects of the competence from the viewpoints of both the subcontractor and its customer firm - including strategic importance, heterogeneity, imperfect mobility, ex ante limits to competition, dynamic transaction costs, time compression...

  11. Economics Foundations for an Entrepreneurial Marketing Concept

    DEFF Research Database (Denmark)

    Duus, Henrik Johannsen

    1997-01-01

    and its strategy, parts of the essence of the marketing concept are being challenged. This article proposes that a new entrepreneurial marketing concept based on an ex-ante supply-push conception of marketing, and which focuses on future market demands and the future capabilities of the firm......This article examines developments in economics and strategic management theory and discusses their implications for marketing. Recent advances in economic theory have suggested new inputs to marketing management theory and practice. With the advance of the “new economic theories” of the firm......, will be capable of solving these problems. Possible elements in a new approach are suggested. The focus is on industrial marketing, very long-term and very general environmental analysis, and on innovation, industrial transformation and the building of the competencies of the firm....

  12. Firm-Specific Foreign Exchange Exposure Identification

    DEFF Research Database (Denmark)

    Aabo, Tom; Brodin, Danielle

    2014-01-01

    Previous studies have used the stock market approach to find the aggregate number of (firms with) foreign exchange exposures in a given country, region, or industry. Methodologies have differed in many aspects but two of the most basic differences relate to observation frequency and the choice...

  13. What results when firms implement practices: the differential relationship between specific practices, firm financial performance, customer service, and quality.

    Science.gov (United States)

    Gibson, Cristina B; Porath, Christine L; Benson, George S; Lawler, Edward E

    2007-11-01

    Previous research on organizational practices is replete with contradictory evidence regarding their effects. Here, the authors argue that these contradictory findings may have occurred because researchers have often examined complex practice combinations and have failed to investigate a broad variety of firm-level outcomes. Thus, past research may obscure important differential effects of specific practices on specific firm-level outcomes. Extending this research, the authors develop hypotheses about the effects of practices that (a) enable information sharing, (b) set boundaries, and (c) enable teams on 3 different firm-level outcomes: financial performance, customer service, and quality. Relationships are tested in a sample of observations from over 200 Fortune 1000 firms. Results indicate that information-sharing practices were positively related to financial performance 1 year following implementation of the practices, boundary-setting practices were positively related to firm-level customer service, and team-enabling practices were related to firm-level quality. No single set of practices predicted all 3 firm-level outcomes, indicating practice-specific effects. These findings help resolve the theoretical tension in the literature regarding the effects of organizational practices and offer guidance as to how to best target practices to increase specific work-related outcomes. Implications for theory, research, and practice are discussed. (c) 2007 APA

  14. Inter-firm and intra-firm efficiency measures

    NARCIS (Netherlands)

    Oude Lansink, A.G.J.M.; Silva, E.; Stefanou, S.

    2001-01-01

    Intra-firm efficiency involves computing a particular firm's efficiency degree over time relative to the firm-specific production frontier. Inter-firm efficiency reveals a particular firm's performance over time relative to the ``best practice frontier'' among the set of comparable firms. These

  15. Hershey’s Entry to the Australian Market with a New Brand: An Accounting and Marketing Perspective

    OpenAIRE

    Cevdet Kızıl; Valorie Eddy; Laura Clary; Katrina Crowell

    2013-01-01

    This paper discusses the entry of Hershey’s Chocolates Company tothe Australian market with a new brand. For this purpose, background information and key performance indicators about the firm are presented. Also target customers and market summary, market demographics and target customer profile of the firm are mentioned in the context of situational analysis. Then,Hershey’s entry to the Australian market with a new product is proposed by providing and commenting on SWOT analysis, competition...

  16. Employee Control and Oligopoly in a Free Market Economy

    OpenAIRE

    Helmuth CREMER; Jacques CRÉMER

    1994-01-01

    We study duopolistic markets where a profit-maximizing firm competes with an employee-controlled firm that maximizes value-added per employee. We first study an industry with Cournot competition. We show that the presence of an employee-controlled firm does not affect the equilibrium number of firms, lowers aggregate output, increases price and reduces social welfare. The employee-controlled firm has a smaller equilibrium output than its competitor. For Hotelling type competition in a market ...

  17. Marketing Effectiveness Of Small Firms Investments

    OpenAIRE

    Svilen Ivanov

    2014-01-01

    Marketing efficiency acquires ever-increasing importance, both for the scientific community, and in the practice. At the corporate level there have - in theoretical plan - been developed and are applied a multitude of metrics for its assessment. The question whether these metrics are applicable and whether they are used in the activity of companies possessing scarce resources, has not yet been studied thoroughly. The main aim of this article is to ascertain within a particular market whether ...

  18. Market segmentation: Venezuelan ADRs

    Directory of Open Access Journals (Sweden)

    Urbi Garay

    2012-12-01

    Full Text Available The control on foreign exchange imposed by Venezuela in 2003 constitute a natural experiment that allows researchers to observe the effects of exchange controls on stock market segmentation. This paper provides empirical evidence that although the Venezuelan capital market as a whole was highly segmented before the controls were imposed, the shares in the firm CANTV were, through their American Depositary Receipts (ADRs, partially integrated with the global market. Following the imposition of the exchange controls this integration was lost. Research also documents the spectacular and apparently contradictory rise experienced by the Caracas Stock Exchange during the serious economic crisis of 2003. It is argued that, as it happened in Argentina in 2002, the rise in share prices occurred because the depreciation of the Bolívar in the parallel currency market increased the local price of the stocks that had associated ADRs, which were negotiated in dollars.

  19. Does wind energy mitigate market power in deregulated electricity markets?

    International Nuclear Information System (INIS)

    Ben-Moshe, Ori; Rubin, Ofir D.

    2015-01-01

    A rich body of literature suggests that there is an inverse relationship between wind power penetration rate into the electricity market and electricity prices, but it is unclear whether these observations can be generalized. Therefore, in this paper we seek to analytically characterize market conditions that give rise to this inverse relationship. For this purpose, we expand a recently developed theoretical framework to facilitate flexibility in modeling the structure of the electric industry with respect to the degree of market concentration and diversification in the ownership of wind power capacity. The analytical results and their attendant numerical illustrations indicate that the introduction of wind energy into the market does not always depress electricity prices. Such a drop in electricity prices is likely to occur when the number of firms is large enough or the ownership of wind energy is sufficiently diversified, or most often a combination of the two. Importantly, our study defines the circumstances in which the question of which type of firm invests in wind power capacity is crucial for market prices. - Highlights: • Studies show that electricity prices decrease with increased wind power capacity. • We investigate market conditions that give rise to this inverse relationship. • Average prices for wind energy are systematically lower than average market prices. • Conventional generation firms may increase market power by investing in wind farms. • Energy policy should seek to diversify the ownership of wind power capacity

  20. LDC gas buyers adjusting to vastly changed market

    International Nuclear Information System (INIS)

    Share, J.

    1997-01-01

    In a just-released study, RKS Research and Consulting reported that while power and gas marketing firms may become key players in the deregulated energy business, few of their customers and seeing a national leader emerge. The report said while 75% of large customers interviewed already use energy marketers, only 25% evidence a clear understanding of these firms' skills and product /offerings. The study found that the energy users considered reliable energy supply, service dependability and quality/reliability of fuel sources their top three criteria and apply that to utilities and energy marketing firms. The marketers may offer some unique services, such as a commanding market presence, fuel diversity, skill in using financial derivatives and record of successful risk management, but those offerings are generally at the bottom of the list that energy users use when considering power and gas marketers, the study said. What does this all mean to the gas utilities, both in terms of buying supplies as well as providing gas against their newly emerging competitors? The author asked gas buyers from five LDCs to discuss the challenges they face in doing their jobs today. Their comments are relevant because it is not only an example of a new way of doing business, but is also indicative of the choices and problems one will endure in buying energy in an increasingly deregulated environment. And remember this: the utilities are still the predominant buyers of gas