ANTHONY S. EVANGELISTA and MARYBETH SORADY
Valuation of portfolio securities continues to hold the limelight in the arena of mutual fund regulation. For the last four years, mutual fund regulators have repeatedly…
Abstract
Valuation of portfolio securities continues to hold the limelight in the arena of mutual fund regulation. For the last four years, mutual fund regulators have repeatedly emphasized the need to adopt or revise procedures to address valuation issues that address modern market conditions resulting from such forces as globalization and the development of derivatives and other exotic securities.
Lawrence A. Friend and Anthony S. Evangelista
In a much anticipated letter to the Investment Company Institute (ICI) the Securities and Exchange Commission (SEC) on April 30, 2001, set out its position on certain portfolio…
Abstract
In a much anticipated letter to the Investment Company Institute (ICI) the Securities and Exchange Commission (SEC) on April 30, 2001, set out its position on certain portfolio valuation matters applicable to all registered investment companies. The letter, issued by Douglas Scheidt, Associate Director and Chief Counsel of the Division of Investment Management, follows the same tone and tenor of a similar letter to the ICI dated December 8, 1999, which also addressed investment company portfolio valuation (with specific emphasis on board responsibilities and oversight).
Henning Droege, Dagmar Hildebrand and Miguel A. Heras Forcada
The purpose of this paper is, firstly, to review existing schools of thought and to identify present research fields in new service development (NSD) and service innovation…
Abstract
Purpose
The purpose of this paper is, firstly, to review existing schools of thought and to identify present research fields in new service development (NSD) and service innovation research, and, secondly, to discuss future research opportunities.
Design/methodology/approach
The literature review is based on a search for “service innovation” and “NSD” in titles, abstracts and keywords of articles. As a result of looking at the references, as well as through analysis of papers which cite the articles identified, additional publications are included in this study.
Findings
Four schools of thought and five distinct research fields are presented. Herein, the authors show that there is a lack of studies of organisational innovations, and that differences in the drivers for radical or incremental innovations may be of degree rather than of kind. Further, contradictory results in the research field on differences versus similarities of new product and NSD are identified. In addition, the authors propose possible pathways for future research for each research field and school of thought.
Research limitations/implications
The scope of publications included in this review may be subject to criticism as book‐publications may be under‐represented in this review. Also, the keywords used for the initial search could include additional words.
Originality/value
The paper groups previously scattered research activities from various backgrounds such as marketing and operations into distinct research fields, and presents both the status quo and a discussion of possible directions for future research.
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Jin Chen, Luyao Wang and Guannan Qu
The purpose of this paper is to conceptualize the business model (BM) from a knowledge-based view (KBV), to interpret its nature and knowledge structure and to investigate the…
Abstract
Purpose
The purpose of this paper is to conceptualize the business model (BM) from a knowledge-based view (KBV), to interpret its nature and knowledge structure and to investigate the relationship between its imitability and the erosion of firm’s competitive advantage.
Design/methodology/approach
Based on a systematic literature review, this study builds an integrated framework to explicate the nature and structure of the BM from a KBV. Moreover, on the analysis of two contrasting cases, the argument concerning the relationship between BM imitability and its strategic value is proposed, analyzed and supported.
Findings
The main finding of this study is that a BM can be viewed as a structured knowledge cluster that contains explicit and implicit parts. Its imitation is a dynamic process of knowledge diffusion across firm boundaries. Ceteris paribus, with a lower proportion of implicit knowledge, a BM is more likely to be imitated and the adopter’s competitive advantage is more likely to be eroded, and vice versa.
Practical implications
The proposed framework could provide managers with a deeper understanding of the nature and structure of the BM and help potential adopters develop a successful entry strategy by avoiding BMs that seem profitable but are incapable of maintaining competitive advantage.
Originality/value
As a complement to previous studies, the research conceptualizes the BM as a “structured knowledge cluster” to explicate its nature and knowledge structure from a KBV. The implicit part of the BM is explored, and its importance for the adopter’s competitive advantage is discussed and verified.
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Bishawjit Chandra Deb, Md. Mominur Rahman and Muhammad Shajib Rahman
This study aims to investigate the impact of environmental management accounting (EMA) on manufacturing companies’ environmental and financial performance in Bangladesh. Thus…
Abstract
Purpose
This study aims to investigate the impact of environmental management accounting (EMA) on manufacturing companies’ environmental and financial performance in Bangladesh. Thus, this research recognizes essential factors such as EMA, environmental performance (EP), financial performance (FP), environmental information systems (EIS), knowledge management (KM), green innovation and energy efficiency (EE).
Design/methodology/approach
This research uses a quantitative approach and uses 323 responses from the manufacturing firms. This research tests the study model through the “Partial Least Square-Structural Equation Modeling” (PLS-SEM) technique using Smart PLS v3.3 software. This research uses AMOS v24 and 40% sample consideration to check the robustness. The study passes various model fit measures, i.e. reliability, validity, factor analysis and goodness of fit.
Findings
The research finds that EMA is positively and significantly associated with EP and FP. The study also finds a substantial relationship between recognized factors with EMA and EP. This research connects the stakeholder theory and institutional theory to the EMA model and shows the pressures from stakeholders and institutions reassuring the manufacturing firms to implement EMA. This research evidences that EMA enhances EP and FP.
Originality/value
The policymakers, regulators and government can consider these findings to formulate policy regarding companies’ EP and FP. Particularly, company executives can focus on KM, EIS, green innovation and EE factors for EP and FP.
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Rajinder Bhandal, Royston Meriton, Richard Edward Kavanagh and Anthony Brown
The application of digital twins to optimise operations and supply chain management functions is a bourgeoning practice. Scholars have attempted to keep pace with this development…
Abstract
Purpose
The application of digital twins to optimise operations and supply chain management functions is a bourgeoning practice. Scholars have attempted to keep pace with this development initiating a fast-evolving research agenda. The purpose of this paper is to take stock of the emerging research stream identifying trends and capture the value potential of digital twins to the field of operations and supply chain management.
Design/methodology/approach
In this work we employ a bibliometric literature review supported by bibliographic coupling and keyword co-occurrence network analysis to examine current trends in the research field regarding the value-added potential of digital twin in operations and supply chain management.
Findings
The main findings of this work are the identification of four value clusters and one enabler cluster. Value clusters are comprised of articles that describe how the application of digital twin can enhance supply chain activities at the level of business processes as well as the level of supply chain capabilities. Value clusters of production flow management and product development operate at the business processes level and are maturing communities. The supply chain resilience and risk management value cluster operates at the capability level, it is just emerging, and is positioned at the periphery of the main network.
Originality/value
This is the first study that attempts to conceptualise digital twin as a dynamic capability and employs bibliometric and network analysis on the research stream of digital twin in operations and supply chain management to capture evolutionary trends, literature communities and value-creation dynamics in a digital-twin-enabled supply chain.
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Performance-driven culture has received extensive attention from both academics and practitioners because of its impact on organisations’ performance. Employees’ tacit knowledge…
Abstract
Purpose
Performance-driven culture has received extensive attention from both academics and practitioners because of its impact on organisations’ performance. Employees’ tacit knowledge about performance-driven culture is pivotal to identify, as it contributes to increasing the organisation’s performance. With the aim of enriching ongoing debate in human resources and knowledge management research, this paper proposes a conceptual model for emancipating and investigating the main factors of employees’ tacit knowledge that shape and affect performance-driven culture of a Saudi Arabian organisation.
Design/methodology/approach
The validity of the conceptual model is examined through a qualitative study developed using a thematic analysis of 134 employees’ unbridged computerised typewritten comments about organisation’s performance-driven culture.
Findings
Findings confirm the utility of conceptual models in explaining and categorising employees’ emancipated tacit knowledge, providing a potential contribution to academics and practitioners interested in developing managerial processes for improving organisation’s performance-driven culture.
Originality/value
Both the conceptual reflections and empirical-based evidence herein enrich ongoing debate in the area of human resources and knowledge management about employees’ tacit knowledge and performance-driven culture.
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The purpose of this paper is to explain how emerging market firms create competitive advantage through innovation. The study through the upper echelon theory and the power…
Abstract
Purpose
The purpose of this paper is to explain how emerging market firms create competitive advantage through innovation. The study through the upper echelon theory and the power distance cultural perspective examines the mediating role of organisational leadership in the innovation and competitive advantage relationships.
Design/methodology/approach
Data were collected from the service sectors of two emerging economies, i.e. India and Ghana. Robust standard error regressions were run at two levels. First, at the specific country level and later on the aggregated level for robustness check.
Findings
The results show that in both India and Ghana, innovation largely relates positively with competitive advantage. In specific terms, market innovation was found to be the most significant determinant of competitive advantage in both contexts. Additionally, organisational leadership was also found to be mediating between innovation and competitive advantage in both contexts independently and collectively to confirm the effect of power distance and leadership role in such cultures.
Research limitations/implications
The current study looks at only two emerging markets with high power distance cultures. The implication is that the impact of leadership may differ in emerging economies with low power distance.
Originality/value
The current study looks beyond the mundane relationship between financial performance measures and innovation to assess innovation and competitive advantage in emerging markets context, which has not received the needed attention. It further explains how emerging markets firms can ride on the back of power distance to create a competitive advantage with their innovation development and implementation through organisational innovation leadership. The study offers that the maximum exploitation of the beneficial effect of innovation – competitive advantage – in service firms can only be achieved when leaders spearhead the innovation process and see it through implementation.
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Breda Kenny and John Fahy
The study this chapter reports focuses on how network theory contributes to the understanding of the internationalization process of SMEs and measures the effect of network…
Abstract
The study this chapter reports focuses on how network theory contributes to the understanding of the internationalization process of SMEs and measures the effect of network capability on performance in international trade and has three research objectives.
The first objective of the study relates to providing new insights into the international market development activities through the application of a network perspective. The chapter reviews the international business literature to ascertain the development of thought, the research gaps, and the shortcomings. This review shows that the network perspective is a useful and popular theoretical domain that researchers can use to understand international activities, particularly of small, high technology, resource-constrained firms.
The second research objective is to gain a deeper understanding of network capability. This chapter presents a model for the impact of network capability on international performance by building on the emerging literature on the dynamic capabilities view of the firm. The model conceptualizes network capability in terms of network characteristics, network operation, and network resources. Network characteristics comprise strong and weak ties (operationalized as foreign-market entry modes), relational capability, and the level of trust between partners. Network operation focuses on network initiation, network coordination, and network learning capabilities. Network resources comprise network human-capital resources, synergy-sensitive resources (resource combinations within the network), and information sharing within the network.
The third research objective is to determine the impact of networking capability on the international performance of SMEs. The study analyzes 11 hypotheses through structural equations modeling using LISREL. The hypotheses relate to strong and weak ties, the relative strength of strong ties over weak ties, and each of the eight remaining constructs of networking capability in the study. The research conducts a cross-sectional study by using a sample of SMEs drawn from the telecommunications industry in Ireland.
The study supports the hypothesis that strong ties are more influential on international performance than weak ties. Similarly, network coordination and human-capital resources have a positive and significant association with international performance. Strong ties, weak ties, trust, network initiation, synergy-sensitive resources, relational capability, network learning, and information sharing do not have a significant association with international performance. The results of this study are strong (R2=0.63 for performance as the outcome) and provide a number of interesting insights into the relations between collaboration or networking capability and performance.
This study provides managers and policy makers with an improved understanding of the contingent effects of networks to highlight situations where networks might have limited, zero, or even negative effects on business outcomes. The study cautions against the tendency to interpret networks as universally beneficial to business development and performance outcomes.
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Daniel Kindström and Christian Kowalkowski
The purpose of this paper is to propose a service development process that is adapted to manufacturing companies and to discuss its implications for companies with a traditional…
Abstract
Purpose
The purpose of this paper is to propose a service development process that is adapted to manufacturing companies and to discuss its implications for companies with a traditional focus on product development and product sales.
Design/methodology/approach
The paper looks at new service development (NSD) literature and argues for a rationale to study NSD processes in a manufacturing context. Next, a generic NSD framework for manufacturing companies is presented. Examples are given based on an explorative multiple case study (ten companies) with in‐depth interviews and focus groups. The analysis reveals organizational requirements and other critical factors related to each stage of the NSD process.
Findings
A four‐stage service offering development framework is presented. Critical aspects of NSD in a manufacturing context are highlighted. The importance of considering both NSD and new product development (NPD) together is also emphasized.
Research limitations/implications
The limitations are based primarily on methodology; the case studies focused only on the service organizations of the manufacturing companies studied.
Practical implications
Managers need to be aware of the inter‐relationship that exists between NSD and NPD and on the specificities of service development in companies where an industrial logic dominates. A number of managerial implications are proposed and discussed.
Originality/value
The paper emphasizes the importance of latter stages in NSD, something that has not previously been extensively studied or addressed. In addition, to explicitly discuss NSD in a manufacturing context is novel.