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Article
Publication date: 1 March 2022

Manuchehr Shahrokhi, Ali M. Parhizgari, Mohammad Hashemijoo, Collins E. Okafor, Yuka Nishikawa and Alireza Dastan

The authors revisit the inquiry into the primacy of shareholders vis-à-vis stakeholders that has been debated since 19th Century. The authors consider B-business firms as the…

818

Abstract

Purpose

The authors revisit the inquiry into the primacy of shareholders vis-à-vis stakeholders that has been debated since 19th Century. The authors consider B-business firms as the closest groups of firms that have considerable similarities to stakeholders' firms. The authors model the impact of being certified as stakeholders (B-business) firms in a worldwide environment.

Design/methodology/approach

Employing daily returns data of B-corporations in a global setting during 2010–2021, the authors quantify and compare the firms' performance in the pre- and post-certified periods, measure the effect of their environmental social governance (ESG) scores on their performance and gauge the entire results on a standardized approach that yields easy interpretation.

Findings

Subject to some caveats arising from limited coverage and the lack of data on proper control variables, the findings, based on the statistical significance of the estimated coefficients, do not indicate any changes in B-corporations' performance in their post-certification dates. Notwithstanding that, market factor appears to be the driving force consistently.

Originality/value

Prior studies on B-corporations are overwhelmingly qualitative. The current study is the first study that evaluate performance of B-corporations' returns at firm level with daily data.

Details

Managerial Finance, vol. 48 no. 8
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 11 June 2024

Bindu Singh, Shefali Srivastava, Ranjan Chaudhuri, Sheshadri Chatterjee and Demetris Vrontis

This study aims at assessing entrepreneurial business performance (EBP) from dynamic capability (DC) and technology-organization-environment (TOE) framework perspectives, taking…

261

Abstract

Purpose

This study aims at assessing entrepreneurial business performance (EBP) from dynamic capability (DC) and technology-organization-environment (TOE) framework perspectives, taking support from crowdfunding.

Design/methodology/approach

With the inputs from the literature, supported by TOE framework and the dynamic capability view (DCV), a model has been proposed. This model has been tested by the factor-based partial least squares structural equation modeling (PLS-SEM) technique through a survey and quantifying the responses of 406 respondents on a five-point Likert scale has been used.

Findings

The study has found that crowdfunding support (CFS) has an effective influence on the improvement of EBP. Also, the DC supports to improve the EBP. Environmental dynamism (END) has also a critical role in impacting business performance.

Research limitations/implications

Crowdfunding involves investors who have a similar interest in the business, close friends, family members, venture capitalists, investment groups, etc. Thus, the proposed model can be used by these stakeholders for investment purposes as well as for improving EBP. This study is a cross sectional research work which has limitations. Moreover, the sample size of this project is limited and did not include global respondents, Thus, the findings of this study cannot be generalizable which is another limitation of this study.

Practical implications

Crowdfunding involves investors who have a similar interest in the business, such as close friends, family members, venture capitalists, investment groups, etc. Thus, the proposed model can be used by these stakeholders for investment purposes as well as for improving EBP. The study can help policymakers understand the importance of crowdfunding in promoting entrepreneurship activities in a region, which helps in the economic development of that region.

Originality/value

This research work enriches the extant literature in the fields of crowdfunding and investment, DC and entrepreneurship. Not many studies have dealt with the issues of CFS for the improvement of EBP. Hence, this study may be considered novel. Moreover, the proposed research framework related to crowdfunding possesses a high predictive power. This makes the study unique.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 7 June 2019

Manuchehr Shahrokhi and A.M. Parhizgari

The purpose of this paper is to analyze the determinants and the operational aspects of real estate crowdfunding (RECF henceforth). It addresses RECF growth, drivers and platforms…

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Abstract

Purpose

The purpose of this paper is to analyze the determinants and the operational aspects of real estate crowdfunding (RECF henceforth). It addresses RECF growth, drivers and platforms in light of modern digital technology.

Design/methodology/approach

A comparison with traditional real estate funding is provided, and the ease and advantages that RECF offers to real estate investors are analyzed. The risks and rewards of crowdfunding in general and RECF in particular are also addressed.

Findings

Inasmuch as RECF appears novel and disruptive, research in this paper dates RECF back to the seventieth century. The findings thus posit that RECF is an evolutionary process while it is currently transformative and disruptive.

Originality/value

This is a novel look into RECF, particularly in terms of data, analyses and evaluation of alternatives.

Details

Managerial Finance, vol. 46 no. 6
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 20 July 2010

A.M. Parhizgari and Ivelina Pavlova

The purpose of this paper is to consider two global real estate periods (2000‐2006 and 2007‐2008) that will probably be recorded in history as the most significant periods in…

1785

Abstract

Purpose

The purpose of this paper is to consider two global real estate periods (2000‐2006 and 2007‐2008) that will probably be recorded in history as the most significant periods in terms of a surge and then an eventual downturn in the real estate prices and returns. The paper aims to offer investment strategies in the real estate sector and pinpoint the optimum momentum strategies that provide the maximum returns in the real estate investment trusts (REITs) markets of seven countries.

Design/methodology/approach

Within an iterative framework, a two‐step procedure was employed. The first step drew upon an established momentum approach. The second step, however, departed from it and employed an evolutionary (genetic) algorithm to optimize the investment strategies that could be pursued.

Findings

The findings suggest that momentum effects have been present during the 2000‐2008 periods. However, in contrast with prior studies, momentum portfolio returns are statistically insignificant during the boom years, but are highly significant during the downturn periods. These findings are attributed to the heterogeneous returns during these periods.

Practical implications

Profitable REITs momentum investment is not uniform across the countries considered. Taking long positions in the winners and short positions in the losers during the boom periods in the real estate market may not necessarily be an optimum strategy. Since the profitability of the investment strategy during the downturn is driven by short positions, the practical implementation of such strategy will be limited if short sales constraints are imposed.

Originality/value

The paper employs a unique and novel approach for the first time in the field of real estate investment. It introduces genetic algorithm into the momentum literature. This approach pinpoints the optimum profitability of the momentum/persistence strategies that could be pursued.

Details

Journal of European Real Estate Research, vol. 3 no. 2
Type: Research Article
ISSN: 1753-9269

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Book part
Publication date: 18 November 2013

Abstract

Details

Intellectual Capital and Public Sector Performance
Type: Book
ISBN: 978-1-78350-169-4

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Book part
Publication date: 10 November 2020

Mark Schaub and Garland Simmons

American depository receipts (ADRs) listed on the New York Stock Exchange during the 1990s and 2000s are compared to determine how well they performed versus the US index and…

Abstract

American depository receipts (ADRs) listed on the New York Stock Exchange during the 1990s and 2000s are compared to determine how well they performed versus the US index and respective regional indexes utilizing three-year holding period excess returns. Results suggest that ADRs listed in the 2000s perform better than those in the 1990s. Also, seasoned equity offerings performed better than initial public offerings. Regression analysis indicated the best predictors of ADR performance are the returns of the respective regional index where the ADR-listing firm is headquartered, the date of issue (2000s vs 1990s), and whether the ADR was from an emerging economy.

Details

Financial Issues in Emerging Economies: Special Issue Including Selected Papers from II International Conference on Economics and Finance, 2019, Bengaluru, India
Type: Book
ISBN: 978-1-83867-960-6

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Book part
Publication date: 18 November 2013

Abstract

Details

Intellectual Capital and Public Sector Performance
Type: Book
ISBN: 978-1-78350-169-4

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Article
Publication date: 31 July 2009

Alison M. Dean and Al Rainnie

This paper aims to report on a study that investigated employees' views on the organizational factors that affect their ability to deliver service quality to customers. The study…

5825

Abstract

Purpose

This paper aims to report on a study that investigated employees' views on the organizational factors that affect their ability to deliver service quality to customers. The study is important because call centers represent unique work environments and they have not been used in the development of service quality theory.

Design/methodology/approach

Ten focus groups of frontline employees who work in a telecommunications call center in Australia were conducted. Data were subjected to content analysis.

Findings

Nine major themes were identified. Some of these themes are evident in theory arising from service quality gaps, service climate, and service profit chain studies. Other themes include whether managers emphasize sales or efficiency, rather than service quality; approaches to performance monitoring and feedback, role and productivity demands, quality assurance regimes, and employees' experiences of service encounter stress.

Research limitations/implications

The findings suggest that various factors from prior work need to be integrated and extended to enhance service quality in call centers. However, data were collected from only one call center.

Practical implications

The present study suggests that to deliver high levels of service quality, call center managers need to rethink their approaches to productivity and performance management, and hiring and supporting the “right” service staff.

Originality/value

This paper re‐examines service quality in the specific context of call centers. It provides an organizational focus and complements recent work that has tested the role of employee attitudes in service quality studies. The paper concludes with a model for testing.

Details

Journal of Services Marketing, vol. 23 no. 5
Type: Research Article
ISSN: 0887-6045

Keywords

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Book part
Publication date: 20 July 2005

Mark L. Weinberg, Hugh D. Sherman, Julia Zimmerman and Eleni A. Zulia

Like other public and nonprofit leaders, academic librarians face multiple challenges (McGregor, 2000) such as tight and declining budgets, technology-savvy users, higher…

Abstract

Like other public and nonprofit leaders, academic librarians face multiple challenges (McGregor, 2000) such as tight and declining budgets, technology-savvy users, higher performance expectations from clients and overseers, complex production networks, rapid technological change, and increased competition (Stoffle, Allen, Morden, & Maloney, 2003). These challenges require new leadership roles, skill sets, and techniques for academic librarians, as well as restructuring the library organization. A discussion of their changed roles and organizations contextualizes the discussion of how academic librarians should meet the challenges of a changed service environment (Stoffle et al., 2003). However, a void in the discussion is the failure to suggest a leadership role best suited to governing complex academic libraries, as well as the lack of a coherent strategic framework to guide academic librarians in formulating, implementing, and assessing strategy to create additional value (Gilreath, 2003).

Details

Advances in Library Administration and Organization
Type: Book
ISBN: 978-1-84950-338-9

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Article
Publication date: 4 December 2017

Nixon Kamukama and Tumwine Sulait

The paper examines individual contribution of intellectual capital elements to competitive advantage. The purpose of this paper is to explore the weight of individual intellectual…

984

Abstract

Purpose

The paper examines individual contribution of intellectual capital elements to competitive advantage. The purpose of this paper is to explore the weight of individual intellectual capital elements in explaining competitive advantage in Uganda’s microfinance industry.

Design/methodology/approach

Hierarchical regression was used because of its capacity to indicate precisely what happens to the model as different predictor variables are introduced.

Findings

This study confirms that the three intellectual capital elements are the strong predictors of competitive advantage and they account for 44 percent of variance in competitive advantage. However, the order of importance of these variables in explaining the variance in competitive advantage in the microfinance industry (basing on their standardized β values) is relational capital, structural capital and human capital.

Research limitations/implications

Only a single research methodological approach was employed and future research through interviews could be undertaken to triangulate the data. Furthermore, the findings from the present study are cross-sectional; future research should be undertaken to examine the longitudinal effects of intellectual capital elements.

Practical implications

The findings can help the management to intensify initiatives to encourage greater understanding and acceptance of the concept of intellectual capital that boosts competitive edge in the industry.

Originality/value

This is the first study that focuses on testing the individual contribution of intellectual capital dimensions to competitive advantage in Uganda’s microfinance institutions.

Details

African Journal of Economic and Management Studies, vol. 8 no. 4
Type: Research Article
ISSN: 2040-0705

Keywords

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