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This article shows that the COVID-19 pandemic exposed informal institutional voids that exist for Black, Asian and Minority Ethnic (BAME) business owners in the United Kingdom. Based on a primary database of surveys and semi-structured interviews, the results show that many BAME small and medium-sized enterprise (SME) owners encountered informal institutional voids that White SME owners did not face during the pandemic. The article also shows how these BAME SME owners created value amid these institutional voids and how they can continue to do so. The article concludes by suggesting that bridging these voids is crucial for promoting a more inclusive environment where ethnic and non-ethnic entrepreneurs can succeed. It also presents policy implications and offers directions for future research.
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This study aims to investigate the nature and intensity of the changes in corporate financial performance due to the corporate social responsibility (CSR) disclosures as a result of certain relationships between corporate governance and company performance in the non-financial sector. This study selected 625 non-financial companies across six organizations for economic cooperations (OECD) countries' stock markets for the period of 10 years (2012–2021). For this qualitative study, corporate governance, financial performance, and corporate social responsibility score data were collected from the DataStream, a reliable database for examining the research on OECD countries' listed companies. For the data analysis we applied various statistical tools such as regression analysis and moderation analysis. The findings of the study show that all attributes of the corporate governance mechanism, except for audit board attendance, have significant positive impacts on financial performance indicators for all the selected OECD economies except the country France. France's code of corporate governance has a significant negative impact on return on asset (ROA) and return on equity (ROE) due to differences in cultural and operational norms of the country. The audit board attendance has no significant impact on ROA. Moreover, all the attributes except board size (BSIZ) have significant positive impacts on the earnings per share (EPS) in Spain, The United Kingdom (UK) and Belgium. The values obtained from the moderation effect show that Corporate social responsibility is the key factor in motivating corporate governance practices which eventually improves corporate financial performance. However, this study advocated the implications, Investors and stakeholders should consider both corporate governance and CSR disclosures when making investment decisions. Companies that prioritize both governance and CSR tend to have better financial performance and are more likely to mitigate risks. Moreover, the policy makers can improve the code of corporate governance in order to attain sustainable development in the stock market.
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PurposeThis study aims to investigate the impact of risk-taking and auditor characteristics on value creation in companies listed on the Tehran Stock Exchange. In addition, it investigates the moderator role of auditor characteristics in the impact of risk-taking on value creation, especially in pre-Covid 19 and post-Covid 19 pandemic.Design/methodology/approachThe information about 199 company in 2014–2021 was examined. In the present study, in accordance with the related theoretical literature and the importance of auditor specialization, auditor tenure and auditor reputation, these factors were considered as the auditor characteristics.FindingsThe present findings based on the generalized least squares (GLS) method showed that risk-taking positively affects the value creation. The auditor characteristics (auditor specialization, auditor tenure and auditor reputation) have a significant positive effect on the value creation. Furthermore, the auditor characteristics enhance the impact of risk-taking on value creation. The results of generalized method of moments method and robust regression analysis are consistent with the GLS results. To take into account the Covid-19 conditions, the data were divided into pre-Covid-19 and post-Covid-19 years. The results showed that auditor characteristics moderate the impact of risk-taking on value creation in pre-Covid 19 and post-Covid 19.Originality/valueThe study highlights the role of auditor characteristics in the value creation, especially in the emerging market. Given that Covid-19 has seriously damaged global economic well-being and has put companies at a double risk, the present findings can be useful for managers, investors and the international community, and help company managers make risk-taking policies and select auditors with appropriate characteristics.
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Research Summary: The two premises that underpin this SEJ Special Issue on Environmental Change, Strategic Entrepreneurial Action, and Success are that all environmental changes provide positive potentials for some ventures, and that this has been under-emphasized in past theory and research. After stating these premises and illustrating how present research treats the environment, we proceed to explain how the five articles selected for the special issue advance our thinking in this domain. We then broaden our discussion to how future entrepreneurship research can make further progress by studying interaction among environmental changes as well as their links to entrepreneurial agents, contexts (sectoral, spatial, organizational, etc.) and the entrepreneurial artifact (emerging venture). Throughout, the focus is on the enabling rather than constraining role of environmental changes. Managerial Summary: The COVID-19 pandemic, the digital revolution, and the sustainability transition forced by climate change demonstrate significant business impact of environmental changes, including potentials for new business initiatives. This editorial and the five vanguard articles included in this SEJ Special Issue on Environmental Change, Strategic Entrepreneurial Action, and Success outline how future research can develop better theory and evidence on this important topic. The articles address matters ranging from how COVID-19 facilitated some technology firms' recruiting and reignited media firms' dormant initiatives to how environmental degradations sparked entrepreneurial ecosystem development in Kenya, how the level of environmental dynamism at a venture's birth impact its current ability to benefit from change, and the consequences of passing on potentials provided by environmental change.
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PurposeThis paper aims to investigate how value drivers of internet medical business model affect value creation through a configurational approach. The internet medical business model (IMBM) is such a business model that integrates online and offline medical services with the driving force of internet technologies covering prediagnosis, in-diagnosis and postdiagnosis. The outbreak of COVID-19 and the support of national policies have boosted the development of internet health care. However, there are still many challenges in practice, such as the unclear innovation path, as well as difficulties in landing and profiting. Academic research has not yet provided sufficient theoretical insights. Therefore, to better explain and guide practice, it is urgent to clarify the innovation path and mechanism of value creation for IMBM. Design/methodology/approachBased on the sample of 58 internet medical firms in China, this paper adopts fuzzy-set qualitative comparative analysis (fsQCA) to explore the configurational effects of IMBM's value drivers on value creation. FindingsBuilding on the business model canvas and the characteristics of internet health care, five value drivers of IMBM are identified, namely, functional value proposition, emotional value proposition, user involvement, resource capabilities and connection properties. And the five value drivers form three configurations, which are, respectively, labeled as resource-driven configuration, user-operated configuration and product-combined configuration. From the perspective of the integration of traditional and emerging theories, such as resource-based view, internet economics and value cocreation, each configuration leads to value creation and improves value results with different mechanisms behind it. Originality/valueFirst, combined with the business model canvas and the characteristics of internet health care, this paper identifies five value drivers of IMBM, thus improving the relevant research on internet health care. Second, based on the configurational effects, this paper discusses the mechanism behind the configurational effects of IMBM's value drivers on value creation, thus expanding relevant research on the value creation of business models. Third, applying fsQCA and combining the advantages of qualitative research and quantitative research, this paper adds to the configurations of IMBM's value drivers that achieve high-value results.
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Smart transformative services such as digital contact tracing apps are a means to offer transformative and economic value by selfmonitoring contacts and improving the well-being of users, while also reducing concerns when using services during pandemics such as COVID-19. In this study, we identify significant factors as well as communication and promotion strategies to encourage digital contact tracing app nonusers to use such apps in order to benefit from their value-creating potential. This research contributes to transformative service literature by identifying digital contact tracing apps as a means to regain confidence in using services during a pandemic, thereby offering transformative and economic value. By integrating two trust dimensions as meaningful mediators, this research sheds light on the conditions under which social influence and Internet privacy concerns influence nonusers' usage intention. Moreover, the results not only identify significant factors influencing intended app usage but also reveal strategies for increasing actual app usage. © 2023 C.H.BECK oHG. All rights reserved.
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This paper examines whether gender diversity (GD) on corporate boards influences financial performance (FP) of Indian firms using System Generalized Methods of Moments (GMM) methods by considering panel data of 364 firms during 2017 to 2021, comprising of 1820 firm-year observations. The study reveals that the mere presence of a woman director (WD) on boards makes no difference in financial performance. Presence of WDs as a significant portion of the boards and their active roles in the functioning and governance of companies positively contribute to firms' financial performances and economic value creation. Regarding other governance parameters, the study shows that larger boards do not necessarily improve firm performance. Also, independent directors do not necessarily add value to corporate performance and value creation. While a higher promoter's stake is an important factor for Indian companies to drive corporate performance, firms with separate CEO and chairperson outperform firms with CEO duality. The study also reveals that the covid 19 pandemic has negatively influenced the financial performance and economic profit generation of the Indian firms. This study is important for several reasons. First, this study considers the period (2017–2021) when Indian companies adopted new financial reporting practices (IND-AS) in line with International Financial Reporting System (IFRS), the mandatory quota system of women directors' appointment is implemented and new corporate governance norms are implemented. Hence, our study contributes to the literature by proving meaningful insights on the role of gender diversity and other corporate governance parameters on financial performance of Indian firms in the light of newly adopted accounting and financial reporting practices. Second, few previous India based studies have mostly used pooled OLS or fixed effect models, and did not address the endogeneity problem in different forms like Dynamic Endogeneity, Simultaneity, and Unobserved Heterogeneity. This paper addresses the endogeneity problem appropriately by using the system generalized method of moments (GMM) while modelling the relation between WDs and firms' FP. Therefore, the findings of this study are more reliable and unbiased and can be useful for effective policy making on gender diversity and corporate governance issues. Third, few prior studies which have looked into the role of WDs on FP of Indian firms, have mostly used return on assets (ROA), return on equity (ROE) and Tobin's Q as performance parameters. Here, in addition to ROA, ROE and Tobin's Q, we also use economic value added (EVA) as indicators of corporate performance to understand the role of WDs on economic value creation for companies. The EVA is considered as modern technique to measure the economic profit earned by a firm, and it has gained huge popularity among companies as an improved technique for measuring financial performance for companies. To the best of our knowledge, the role of WDs on economic value creation by firms has not been investigated before particularly in the Indian context. This is another unique contribution of this study. Fourth, the Covid 19 pandemic had impacted global economy severely and India was no exception. Financial performances of most Indian firms were negatively impacted due to the nationwide lockdown and uncertainties about production, revenue and earnings. This study considers both the pre and post Covid 19 pandemic period in examining our central research question using a year dummy. Therefore, our study also captures whether the covid 19 pandemic has actually impacted the financial performance of Indian firms, while modelling this relation. This is another valuable and unique contribution of this study to the literature. The findings of this study provide an understanding of how board gender diversity and other governance parameters influence financial performance of Indian firms in an emerging market context. The outcomes are also explained and aligned with the relevant policy implications in th light of recent Indian corporate governance norms and policies. These findings are useful to the companies and policymakers, as they can use these findings while designing effective boards, which can be useful in improving firm performance. Board of directors, investors, regulators, and policymakers can effectively use these findings to understand how gender diverse boards and other corporate governance parameters influence firms' financial performance under the concentrated ownership pattern.
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PurposeThe conceptualization of the Base of Pyramid (BOP) proposes that low-income markets can lead to profitable opportunities for businesses. The purpose of this study is to identify key success factors of a BOP business strategy based on a case study of the discount retailer, Dollar General, in the USA.Design/methodology/approachThe research design used in this research is an in-depth case study of Dollar General in the USA. Qualitative methods are applied in both the primary and secondary data collection and during the follow-on data analysis of Dollar General.FindingsDollar General's strategic profile is achieved through the combination of the following four actions which are tailored to compete effectively at the BOP in the USA: creating the neighborhood discounter, raising aspirational appeal, reducing service and eliminating internationalization.Research limitations/implicationsThe case is specific to Dollar General in a US cultural context.Practical implicationsThe case of Dollar General demonstrates how a discounter retailer should not only follow a low-cost strategy to compete at the BOP. Its ability to craft a distinctive strategy is coherent with meeting the logistical, rational and emotional needs of the low-income consumer in the USA.Social implicationsMany businesses have neglected rural areas of the USA as being unprofitable. The ability for businesses such as Dollar General to serve the BOP segment can foster the socio-economic well-being of communities.Originality/valueThe overwhelming body of the BOP literature is based on emerging markets. To the best of the authors' knowledge, this is one of the few studies to investigate BOP business strategy in the USA.
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The Covid-19 crisis has impacted the world economy in an unprecedented way. The spread and consequences of the deadly virus have disrupted business and human lives globally. The purpose of the paper is to study the role and contributions of social entrepreneurs in the management of Covid-19 crisis to provide innovative solutions and contribute to economic growth for the betterment of society. For this purpose, in-depth semi-structured interviews were conducted with social entrepreneurs actively working during the Covid-19 crisis in Delhi/NCR. Thematic analysis was used to report the findings of the study. The study reveals the motivation factors that influence and push social entrepreneurs to work for people, especially in times of crisis. It also demonstrates the challenges and opportunities faced by social entrepreneurs to manage the crisis and create better social well-being. The paper reflects the understanding of social entrepreneurs' role during pandemic times and thereby provides ways for managing the crisis to accelerate economic growth. © 2023 Thailand and The World Economy. All rights reserved.
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PurposeThe Sports Live Streaming Platforms (SLSPs) have taken centre stage in broadcasting sporting events. This study adopts the value creation sphere (VCS) model and the service dominant logic (SDL) to unpack the value co-creation process on SLSPs.Design/methodology/approachA case study with one of the most representative SLSPs in China, involving the netnographic approach and in-depth interviews, was conducted.FindingsThis study redefines the value co-creation spheres in the context of SLSPs and identifies four actors who contribute to viewers' value perceptions. The findings show that viewers' values can be co-created individually and collectively with other actors in both the customer sphere and the joint sphere.Originality/valueThis study extends the theoretical boundary of value co-creation into the context of SLSPs. The study findings help SLSPs managers and decision makers understand the value co-creation process to gain competitive advantages and enhance the sustainability of their services.
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This article proposes an integration of methods and sources from the field of architectural design, on the one hand, and evaluation disciplines, on the other. By analysing some emerging trends in the residential demand, highlighted by the COVID-19 pandemic but referable to phenomena characterised by much longer trajectories, the research aims to highlight certain criticalities and shortcomings in the current design and evaluation practices and to shed new light on the potential value of spaces that are typically underused - and underestimated - but highly transformable. The text thus introduces a critical-methodological reflection, which offers a new perspective for the study of neighbourhoods characterised by a high level of "peripheralisation". © 2021 Firenze University Press.
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Maritime shipping lines and global terminal operators have benefited from economies of scale to expand geographically and functionally their infrastructure, leading to a corporatized network. Terminal operators are key asset managers seeking value creation by expanding the global maritime container terminal infrastructure network. While corporatization has systematically ensured that terminal capacity was created to accommodate the rise in global trade volumes, the network hit its boundaries when confronted with COVID-19 induced global supply chain disruptions. This paper provides a better understanding of the importance of infrastructure and observed corporatization as a framework for explaining economic processes, notably when transport infrastructures are extensive and capital-intensive. The structure of the global container shipping network is analyzed to unveil the realities of liner service networks operated by shipping lines, and the market structure and consolidation in container shipping and terminal operations. The discussion on the corporatization of the global maritime infrastructure network for container handling is embedded in international business literature. This study also extracts the main implications of the current structure and governance of the global maritime infrastructure network for international business policy, with a particular focus on the current market structure and network resilience.
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In 1921, the Czech writer Karel Čapek introduced the word robot in his science-fiction play, "R.U.R.” (Jordan, 2019;Mims, 2021). One hundred years later, robots play a part in our society, such as in retail and service encounters. These robots are called RSAs (robotic service assistants), and pioneering work has been conducted to understand the roles of RSAs in retail and service contexts. Today, some RSAs, such as Pepper Robot, can autonomously communicate with customers and enhance retail and service experiences. Other RSAs, such as Servi Robot and Whiz Robot enhance these experiences without directly interacting with customers. Servi Robot autonomously brings dishes to customers in restaurants. In the "innovation radar” proposed by Sawhney et al. (2006), RSAs could improve process, enhance customer experience, and create value for customers. For instance, Servi Robot can autonomously serve tables 300 times a day (Chiba, 2021), and thus improve the process of serving food to customers at restaurants and enhance the customer experience (e.g., shorter wait time, touchless service during Covid-19 pandemic). Another RSA, Whiz Robot, is an autonomous robotic cleaner Softbank Robotics utilizes to disrupt the commercial cleaning sector (McSweeney, 2019). However, in recent years, some companies have experienced challenges in sustaining the presence of RSAs (e.g., Lalley, 2020). What determines the successful application of RSAs? How can retailers introduce RSAs in a way that creates value for customers? How does the introduction of RSAs uniquely affect the digital transformation of companies? How could RSAs disrupt industries? Through interviewing executives of Softbank Robotics (a manufacturer of RSAs, including Pepper, Whiz, and Servi Robots), we will seek to answer those questions. In particular, we explore how RSAs could create customer value, trigger digital transformation, and enhance disruptive innovation. Series of propositions have been generated in relation to these roles of RSAs. We discuss theoretical and managerial implications from insights generated through executive interviews. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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PurposeThe purpose of this paper is to investigate the potential synergy between companies' sustainable supply chain management (SSCM) activities and their supply chain resilience (SCRES). The authors propose hypotheses about the impact of buying companies SSCM activities on the inflicted damage by unexpected supply chain disruptions and the recovery time afterwards and test these empirically using data from companies during the global COVID-19 pandemic.Design/methodology/approachThe authors investigate a sample of 231 of the largest publicly traded companies in the European Union with 4.158 firm-year observations. For the analysis, the authors generate variables capturing the companies' intensity and years of experience of their SSCM activities targeted at the supply chain and run regression analyses on the inflicted damage due to the COVID-19 pandemic and the recovery time after the disruption.FindingsBuying companies' SSCM activities have a positive effect on their SCRES. The damage inflicted by unexpected supply chain disruptions is lower when companies have higher levels of SSCM and longer experience with it. The recovery time afterwards is significantly reduced by longer experience with SSCM efforts.Research limitations/implicationsThe authors suggest SCRES is reinforced by transparency, situational awareness, social capital and collaboration resulting from companies SSCM activities translate into increased SCRES.Practical implicationsThe authors show that companies with superior SSCM are more resilient in a crisis and conclude that, therefore, companies should invest in SSCM to prevent future supply disruptions.Originality/valueTo the best of the authors' knowledge, this is the first empirical study analyzing a data set of multi-industry companies, linking their SSCM activities to SCRES during the pandemic.
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[...]they review all U.S. public company tax inversions in Ireland from 2010 to 2014 and find that inversions do not create additional value from operations. Program in Business at Chung Yuan Christian University, and University Chair Professor and department chair of the Department of Management Information Systems at the National Chengchi University (NCCU), Taiwan. Based on the research areas, he authored/co-authored over 80 refereed journal articles (e.g., Information & Management, Decision Support Systems, Journal of Information Systems, Information Systems Management, Communication of AIS, Journal of Global Information Management, Information System Frontiers) and published ten textbooks.
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The COVID-19 pandemic resulted in significant changes to business operations, particularly addressing human resources and their role within the firm. This study aims to assess the sustainability of human capital efficiency in the hotel industry, including the early effects of the COVID-19 pandemic. In accordance with the value-based approach, the human capital efficiency (HCE) coefficient was calculated on a sample of 157 hotels in a five-year period, including the year in which the pandemic was declared. We employed a quantitative methodology based on the VAICTM method of assessing human capital efficiency and Annual Compounded Growth Rate (ACGR) to evaluate the trend of human capital efficiency. The research results showed a change in the trend of human capital efficiency in the hotel industry in 2020, as well as a change in the mean value of the HCE coefficient. Hotels with a higher category demonstrated a better ability to create value using human capital. The contribution of this work is represented in the quantification of the sustainability of human capital efficiency in the observed period and the early impact of the COVID-19 pandemic on the value-added efficiency of human capital in the hotel industry. © 2023 by the authors.
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PurposeUsing self-determination theory and individual social responsibility's (ISRs) association with pure social entrepreneurship, this study aims to answer the following question: How and why have the different actors responded to the crisis caused by the pandemic?Design/methodology/approachQualitative research (multiple case studies) was adopted, resorting to interviewees with seven economic and non-economic actors in the Portugal context.FindingsThe results obtained, using MAXQDA software, show that those carrying out actions of social responsibility have a high degree of self-determination and intrinsic motivation, and are true social entrepreneurs, which lets them improve the well-being of those around them. In addition, these individuals feel good about themselves by performing these actions, as they measure their performance by the social impact of their actions on society in general.Practical implicationsThis study suggest there is a high awareness amongst people to exercise that responsibility in a voluntary way, through humanitarian initiatives and campaigns brought about especially by an unprecedented pandemic. In practice, people joining these initiatives motivate many others towards the causes, creating the will to continue in the future and satisfy unmet needs provoked by social crises.Originality/valueThis study is innovative because it is related to filling the gaps identified, mainly by carrying out an empirical study about ISR, rather than that of firms, where studies are more common.
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COVID-19 pandemic forces startup companies in Indonesia to change their work system from working in the office to work from home system, caused instability in various aspects, including the process of economic. To ensure the continuity of a company's business, business continuity management is an important requirement to be owned by a medium-sized company and above. To overcome this problem, a proper business continuity management framework need to be designed and applied in a startup in Indonesia. This study uses several references from researchers who discuss in detailed manner related to business continuity management, while also refer to several international standards such as ISO 27001 annex 17 which related to business continuity, ISO 27005 which related to risk assessment, and ISO 22301 which related to the business continuity process. Plan do check action (PDCA) approach is used in this research to wrap the process. The results of this study are quite in line with expectations with the application of the newly designed business continuity management (BCM) framework in a startup company in Indonesia, which reduce about 42% of the risk level from before. Moreover, during the drill test, adoption of BCM framework shows successful result with 1 hour 27 minutes, significantly below defined maximum tolerable period of disruption (MTPD) and recovery time objective (RTO). In addition, qualitatively the company has a guarantee of business continuity and good governance in order to maintain the reputation and improve the quality of the startup company. © 2023, Success Culture Press. All rights reserved.
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We attempted to analyze the effect of changes in financial performance after digital transformation on firm value creation, compared to undigitalized firms for digitally transformed firms listed in the KOSPI market in Korea. To this end, we conducted an independent sample t-test and a multivariate regression analysis for a total of 12,143 firms listed on the KOSDAQ market, from 2011 to 2021. As a result of the empirical analysis of our study, it was confirmed that digitally transformed firms showed differential results in changes in financial performance compared to undigitalized firms. Overall, changes in profitability, stability, and growth are excellent, but in some aspects of activity and productivity, it is confirmed that they are weaker than undigitalized firms. In addition, it was confirmed that there was a difference in the change in the current ratio and the total asset turnover rate in the changes in the financial performance affecting the value creation. Nonetheless, there were insignificant differences in other variables.