Anastasiia Redkina, Mariia Molodchik and Carlos Jardon
The paper aims to reveal the attitude of the Russian competition authorities towards cross-border mergers involving foreign buyers. The study addresses the following question: Is…
Abstract
Purpose
The paper aims to reveal the attitude of the Russian competition authorities towards cross-border mergers involving foreign buyers. The study addresses the following question: Is the probability of Russian competition authorities' intervention significantly different when a foreign buyer takes part in the merger? This is the key test to reveal whether competition authorities gravitate towards “economic nationalism” or “promotion of foreign investments”.
Design/methodology/approach
The discrete choice model is applied to the dataset of 7,607 merger cases investigated by the Russian competition authorities between 2012 and 2017. The probability of competition authorities' intervention, such as merger correction by using remedies or deal rejection, is used as a measure of special attention.
Findings
The study finds out favoritism patterns of the regulator with regard to foreign companies. In particular, the deals involving a foreign buyer had less chance of intervention, i.e. imposition of remedies, from national competition authorities. The sanctions period does not moderate the probability of approval of a cross-border merger with foreign buyers by the Russian competition authorities.
Originality/value
The paper contributes to merger control literature by addressing the political economy issues. It discovers that, besides regulation by the law, there are hidden motives, such as protectionism or favoritism of foreign companies, which could drive the regulator's decision. Therefore, the studies of cross-border mergers provide an opportunity to investigate the political issues of merger control through the identification of a special attitude to foreign companies and analysis of regularities that might explain such a policy.
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Carlos M. F-Jardon and Regina Negri Pagani
Small and medium enterprises (SMEs), which main objective is to satisfy the basic needs of the entrepreneur, when geographically concentrated make up subsistence clusters. The…
Abstract
Purpose
Small and medium enterprises (SMEs), which main objective is to satisfy the basic needs of the entrepreneur, when geographically concentrated make up subsistence clusters. The purpose of this paper is to analyze collective efficiency in subsistence clusters as growth strategy and how is the process through which the relational capital and territorial proximity altogether improve performance of firms.
Design/methodology/approach
The research uses partial least squares techniques applied to a sample of 113 SMEs of wood industry in Oberá, Argentina.
Findings
SMEs in subsistence clusters can use relational capital and territory as resources to generate competitive advantages. These competitive advantages foster performance. In consequence, collective efficiency appears as growth strategy in subsistence SMEs.
Research limitations/implications
Data are cross-sectional and in a conjuncture of economy expansion, future research should monitor the sample of firms using panel data to assess the development of relations. Sample is in a particular region and sector and generalizations should be done carefully.
Practical implications
SMEs probably should integrate and share industrial and business structures to develop systemic competitive advantages with a collective character. SMEs should leverage their spatial interaction to build trust and establish networks of cooperation that will be the source of their collective efficiency. These collaboration networks should base in the local knowledge.
Social implications
Subsistence SMEs have strong impact on the most disadvantaged areas in developing countries. Growth strategies to professionalize these SMEs will have a major impact on the endogenous development of those territories.
Originality/value
The research provides a mechanism through which collective efficiency leads to better performance for subsistence SMEs.
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A. Jardon, A. Gimenez, R. Correal, R. Cabas, S. Martinez and C. Balaguer
Human care and service demands will need innovative robotic solutions to make the day‐to‐day life of elderly and disabled people in home and workplace environments easier. The…
Abstract
Purpose
Human care and service demands will need innovative robotic solutions to make the day‐to‐day life of elderly and disabled people in home and workplace environments easier. The main objective of this work is to develop a new concept of climbing robot for this type of service applications.
Design/methodology/approach
ASIBOT is a 5 DOF self‐containing manipulator that includes the entire control system on‐board. The main advantage of this robot is its light weight, about 11 kg with 1.3 m reach. The robot is totally autonomous and only needs a power supply to be operated.
Findings
The robot is an arm able to move between different points (Docking stations (DS)) of the rooms and, if necessary, “jump” to (or from) the environment to the wheelchair. In this way the ASIBOT robot could become a home companion and assistance for numerous people.
Originality/value
ASIBOT is a 5 DOF self‐containing light weight manipulator that includes the entire control system on‐board.
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Sarp Tahsin Kumlu, Emre Samancıoğlu and Emrah Özkul
The change in the technological environment within the macro-environment factors in recent years affects states, businesses, societies and individuals and concerns not only…
Abstract
The change in the technological environment within the macro-environment factors in recent years affects states, businesses, societies and individuals and concerns not only technology-based sectors but also many fields. In particular, trends such as artificial intelligence, metaverse, robotics, advanced connectivity, the Internet of Things, big data, small data, blockchain, cloud technologies and reality technologies, which are called new technology, are developing very quickly compared to the past and expanding their global usage areas. Creating strategies and policies without considering these factors creates problems in many areas. These problems are marketing, competition, cost, efficiency and productivity.
Reality technologies, which are the research area in this chapter and enable users to interact with the digital world, have a wide application area in the tourism industry. With technological tools such as smartphones and virtual reality (VR) glasses; personalisation, interactive experience, information gathering and decision-making; many different solutions are produced in areas such as education, service and security. Along with its many advantages, the disadvantages of reality technologies and the negative outputs of this transformation are significant for the understanding and future of the subject.
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Carlos Maria Jardon and Amandio Dasilva
Small businesses created as a subsistence activity (subsistence small businesses (SSBs)), often are oriented towards the short term. The environmental performance, by contrast, is…
Abstract
Purpose
Small businesses created as a subsistence activity (subsistence small businesses (SSBs)), often are oriented towards the short term. The environmental performance, by contrast, is an indicator of long-term strategies. The purpsoe of this paper is to analyse how intellectual capital (IC) dimensions affect environmental concern, preparing SSBs to have a proper environmental behaviour in the future.
Design/methodology/approach
A method based on the partial least square technique is suggested to select the model and estimate the parameters. A sample of 113 small businesses in the timber industry in a region of Argentina was selected for this study.
Findings
The results indicate that IC promotes environmental concern. Relational capital directly affects environmental concern, human capital and structural capital and these, in turn, indirectly affect the environmental concern through relational capital in SSBs.
Research limitations/implications
The sample used is a cross-section. IC is subjectively measured. This paper only studies small businesses in the timber sector in a region of Latin America.
Practical implications
This paper enables practitioners and scholars to understand and make legitimate decisions and conclusions that can foster SSB growth in environmental concern. The paper suggests a combination of strategies in order to achieve a sustained development.
Originality/value
The authors tested the impact of dimensions of IC on environmental concern in SSB of developing countries, showing the importance of IC in sustained strategies in these companies.
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Mariia A. Molodchik, Carlos Maria Jardon and Anna Andreevna Bykova
The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the…
Abstract
Purpose
The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the Russian context. It examines the performance effect of IC using a multilevel approach.
Design/methodology/approach
The study combines the resource- and industry-based view. It decomposes performance determinants into two levels of analysis in such a way that it is assumed that IC at industry and company levels has a significant simultaneous impact on company performance. The empirical part of the study uses a database of 1,096 Russian public companies, covering the period of 2004–2014 and divided into 19 industries. The econometric methodology uses hierarchical linear models to estimate the effect of IC in the different levels of analysis.
Findings
The study confirms that the strength of the performance effect of IC is contingent on the industry. Furthermore, the study reveals that industry-level endowment with regard to intangibles contributes more to company performance in comparison with a company-level endowment, in the context of the transitional economy.
Originality/value
The study proposes a novel methodological approach to the performance effect of IC in the Russian context, studying the differences between industry and company effect. The study provides insights to better understand the importance of the politics of IC at the different levels (industry and company) and presents a new empirical enquiry into strategic behaviour regarding IC in Russia.
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Mariia Molodchik and Carlos Maria Jardon
The purpose of this paper is to theoretically justify the link between the endowment of intellectual capital (IC) and product novelty, and to find empirical evidence for such a…
Abstract
Purpose
The purpose of this paper is to theoretically justify the link between the endowment of intellectual capital (IC) and product novelty, and to find empirical evidence for such a link for small and medium-sized enterprises (SMEs) in the Russian business environment.
Design/methodology/approach
The study implements an intellectual capital-based view and the concept of novelty proposed by Schumpeter to highlight the crucial role of knowledge for transition to a higher level of competition. Drawing on a literature review, the authors determine three specific components of IC: foreign human capital, information and communication technology (ICT) capital developed at an international level and cooperation with foreign partners in order to pinpoint a premier position on the next level of the market. For empirical testing of the proposed model, a data set comprising more than 1,400 Russian manufacturing SMEs was used. Estimations were performed with the help of a principal component analysis and ordinal logistic regression.
Findings
The findings reveal that higher (IC) endowment promotes the level of product novelty. For Russian manufacturing SMEs, the most important is R&D capital. At the same time, ICT capital developed at an international level and cooperation with foreign partners contribute significantly to the probability of transition to a new market level.
Research limitations/implications
The study employs cross-sectional data that restrict the analysis of innovation dynamics.
Practical implications
The study appears to have policy implications for the development of governmental programmes for Russian SMEs such as the creation of IC awareness, training for IC management, special programmes for R&D support and ICT capital accumulation.
Originality/value
This paper proposes a new approach for investigating the “knowledge-innovation” link, shifting the focus from a general analysis of product innovation to a level of novelty for product innovation. This is the first empirical study of the relationship between IC components and the level of product novelty for SMEs in the context of the Russian business environment.
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Subsistence small businesses (SSBs) do not seek the maximum benefit; they only seek a benefit that enough satisfies their basic needs. In consequence, a dual behaviour of…
Abstract
Purpose
Subsistence small businesses (SSBs) do not seek the maximum benefit; they only seek a benefit that enough satisfies their basic needs. In consequence, a dual behaviour of companies is expected and possibly the competitiveness of these companies is different. The purpose of this paper is to study the dual behaviour of SSBs and the differences about their competitive advantages.
Design/methodology/approach
Data were obtained by conducting surveys with owners and managers of wood processing companies located in a region of Misiones (Argentina). The results were checked by interviews in 2012 and 2015. The research uses principal component analysis and K-means to classify the different behaviour and MANOVA analysis to study the relationships.
Findings
The findings suggest two types of SSBs and show that competitive advantages are different into two groups of companies.
Research limitations/implications
The data used refer to a certain period of time, with interviews in next periods. Sample is in a particular region and sector and generalisations should be done carefully. The variables are measured with subjective questions.
Practical implications
The findings suggest instruments to change the strategy of unsatisfied SSBs to grow.
Social implications
The growth of SSBs is very important in poorest areas. The paper suggest governments’ politics that facilitate a stable environment for improving competitiveness of SSBs.
Originality/value
SSBs are very important in developing countries, but they are not sufficiently studied. The research shows the importance of satisfying principle in the competitiveness of subsistence entrepreneurs.
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Carlos Maria F‐Jardón and Maria Susana Martos
There are different models to measure the effect of intellectual capital on firm performance. These models depend on different dimensions of intellectual capital, the…
Abstract
Purpose
There are different models to measure the effect of intellectual capital on firm performance. These models depend on different dimensions of intellectual capital, the interrelations between them and the effects on performance. It is important to analyze several specificities in small and medium sized enterprises (SME) in developing countries. This paper aims to test diverse models to verify the previously mentioned relations applied to wood manufacturer SMEs of Oberá (Argentina).
Design/methodology/approach
A global model including the variables used in the previous literature is used. The paper establishes hypotheses for testing this model and us PLS technique to estimate the parameters of the model in a sample of 113 wood manufacturer SMEs in Oberá (Argentina).
Findings
The only dimension of intellectual capital directly affecting performance is structural capital. The other dimensions exert an indirect effect through structural capital.
Research limitations/implications
The model does not use all the possible variables to characterize intellectual capital. The causality elements cannot be verified in a temporary horizon because the data are cross‐sectional. In addition, when making reference to data of a particular period of time, there may be causes that imply relations of accidental type. Moreover, the measures used were subjective. This paper only studies the SMEs of the Argentine wood industry.
Practical implications
The paper offers several suggestions to implement strategies for local SMEs and to support aid to projects for developing countries.
Originality/value
The paper tests different models to analyze the impact of dimensions of intellectual capital on performance in SMEs of developing countries and provides information on the wood manufacturer SMEs in Argentina.
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Umair Ali, Wasif Muhammad, Muhammad Jehanzed Irshad and Sajjad Manzoor
Self-localization of an underwater robot using global positioning sensor and other radio positioning systems is not possible, as an alternative onboard sensor-based self-location…
Abstract
Purpose
Self-localization of an underwater robot using global positioning sensor and other radio positioning systems is not possible, as an alternative onboard sensor-based self-location estimation provides another possible solution. However, the dynamic and unstructured nature of the sea environment and highly noise effected sensory information makes the underwater robot self-localization a challenging research topic. The state-of-art multi-sensor fusion algorithms are deficient in dealing of multi-sensor data, e.g. Kalman filter cannot deal with non-Gaussian noise, while parametric filter such as Monte Carlo localization has high computational cost. An optimal fusion policy with low computational cost is an important research question for underwater robot localization.
Design/methodology/approach
In this paper, the authors proposed a novel predictive coding-biased competition/divisive input modulation (PC/BC-DIM) neural network-based multi-sensor fusion approach, which has the capability to fuse and approximate noisy sensory information in an optimal way.
Findings
Results of low mean localization error (i.e. 1.2704 m) and computation cost (i.e. 2.2 ms) show that the proposed method performs better than existing previous techniques in such dynamic and unstructured environments.
Originality/value
To the best of the authors’ knowledge, this work provides a novel multisensory fusion approach to overcome the existing problems of non-Gaussian noise removal, higher self-localization estimation accuracy and reduced computational cost.