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Article
Publication date: 1 February 1978

Dean A. Paxson

The national objectives of forward exchange controls are to restrain speculation in foreign exchange, to limit international capital flows and to affect the forward exchange…

214

Abstract

The national objectives of forward exchange controls are to restrain speculation in foreign exchange, to limit international capital flows and to affect the forward exchange rates. Restrictions on forward transactions are economic welfare costs for enterprises and banks, which are analysed in terms of risk‐return and supply‐demand theory. Empirical answers to whether forward exchange control is really necessary await collection and disclosure of company currency exposure, which itself may contribute to the national objectives implicit in forward exchange controls.

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Managerial Finance, vol. 4 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 30 October 2009

Dean A. Paxson and Arun Melmane

The purpose of this paper is to illustrate the use of a multi‐factor competitive real option model.

563

Abstract

Purpose

The purpose of this paper is to illustrate the use of a multi‐factor competitive real option model.

Design/methodology/approach

The model is described, context of Google‐Yahoo! is developed, market share and other parameter values are estimated, sensitivities and alternative model specifications are shown, and model results are compared with accounting and also stock market valuations and conclusion emphasizes the need for further empirical and theoretical research.

Findings

It was found that applications are feasible, but estimated parameter values are likely to be very approximate compared with internal company information. Hence it points to use as managerial decision tool. Research limitations/implications – Some limitations are the assumed duopoly model, and that historical data are adequate proxies for expected revenue, investment cost, volatilities and market share. The basic model assumes geometric Brownian motion, but the possible consequences of other stochastic processes are illustrated.

Practical implications

Internal market share information should be compared with public data in making strategic investment decisions.

Originality/value

Model adaptation and empirical application are unique, and of value to future empirical researchers, including stock market analysts as well as corporate decision makers.

Details

Journal of Modelling in Management, vol. 4 no. 3
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 7 October 2020

Yuri Yatsenko and Natali Hritonenko

Despite the existence of multiple asset replacement theories, the economic life replacement method remains a major practical technique for making rational machine replacement…

367

Abstract

Purpose

Despite the existence of multiple asset replacement theories, the economic life replacement method remains a major practical technique for making rational machine replacement decisions. The purpose of this paper is to bridge this method with comprehensive data analytic tools and make it applicable it to modern business reality with abundant data on operating and replacement costs.

Design/methodology/approach

This study employs operations research, discrete and continuous optimization, applied mathematical modeling, data analytics, industrial economics and real options theory.

Findings

Constructed stochastic algorithms extend the deterministic economic life method and are compared to the contemporary theory of stochastic asset replacement based on real options and dynamic programming. It is proven that both techniques deliver similar results when the cost volatility is small. A major theoretic finding is that the cost uncertainty speeds up the replacement decision.

Research limitations/implications

This research suggests that the proposed stochastic algorithms may become an important tool for managerial decisions about replacement of many similar machines with detailed data on operating and replacement costs.

Originality/value

Compared to the real options replacement theory, major advantages of the proposed algorithms are that they work equally well for any distribution of age-dependent stochastic operating cost. The algorithms are tested on a real industrial case about replacement of medical imaging devices. Numeric simulation supports obtained analytic outcomes.

Details

Management Decision, vol. 60 no. 2
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 2 February 2015

David S. Jacobson, Caroline McMullan and Christos Minas

The purpose of this paper is to show the relationship between food as a shared good (or public within the household) in the economic sense, and food as a shared meal in the…

301

Abstract

Purpose

The purpose of this paper is to show the relationship between food as a shared good (or public within the household) in the economic sense, and food as a shared meal in the sociological sense.

Design/methodology/approach

Quantitative data derived from a household budget survey (HBS) in Cyprus are used to set up questions to which answers are suggested using the qualitative approach of in-depth interviews.

Findings

The main finding is that the relatively high expenditure by elderly couples on food for home consumption may be explained by frequent inter-household, intra-extended family meals in Cyprus.

Research limitations/implications

The paper provides evidence that household expenditure on food may not be directly indicative of household consumption of food. Researchers interested in household consumption of food should therefore be aware of the differences between household and extended family and, where extended family continues to be significant, they should be wary of using data from HBSs to analyse food consumption. One limitation is that the results are derived from in-depth interviews with a purposive sample of nine households. It may be appropriate to replicate the study, either in Cyprus or in similar societies where extended family remains significant, at a larger scale.

Practical implications

The evidence that household expenditure may not be indicative of household consumption suggests that questions on social context of consumption should be included in HBSs.

Originality/value

This paper draws together, for the first time, economic ideas on expenditure on food derived from the quantitative research of Ernst Engel on one hand and implications of the theories of Georg Simmel on the sociology of the meal on the other. The paper shows that some issues arising from quantitative analysis of HBSs cannot be explained using data from that source; this is particularly so where consumption of food is inter-household.

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British Food Journal, vol. 117 no. 2
Type: Research Article
ISSN: 0007-070X

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Book part
Publication date: 25 February 2016

Richard V. Burkhauser, Markus H. Hahn, Dean R. Lillard and Roger Wilkins

We use Cross-National Equivalent File (CNEF) data from the United States and Great Britain to investigate the association between adults’ health and the income inequality they…

Abstract

We use Cross-National Equivalent File (CNEF) data from the United States and Great Britain to investigate the association between adults’ health and the income inequality they experienced as children up to 80 years earlier. Our inequality data track shares of national income held by top income percentiles from the early 20th century. We average those data over the same early-life years and merge them to CNEF data from both countries that measure self-reported health of individuals between 1991 and 2007. Observationally, adult men and women in the United States and Great Britain less often report being in better health if inequality was higher in their first five years of life. Although the trend in inequality is similar in both countries over the past century, the empirical association between health and inequality in the United States differs substantially from the estimated relationship in Great Britain. When we control for demographic characteristics, measures of permanent income, and early-life socio-economic status, the health–inequality association remains robust only in the U.S. sample. For the British sample, the added controls drive the coefficient on inequality toward zero and statistical insignificance.

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Inequality: Causes and Consequences
Type: Book
ISBN: 978-1-78560-810-0

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Article
Publication date: 22 April 2002

Paul R. Murphy and James M. Daley

While mail surveys continue to be a widely used research technique, relatively little empirical research exists that assesses their effectiveness among industrial (commercial…

61

Abstract

While mail surveys continue to be a widely used research technique, relatively little empirical research exists that assesses their effectiveness among industrial (commercial) organizations. To address this literature void, the present paper reports the findings from a mail survey of international freight forwarders. More specifically, this paper investigates the influence of postcard prenotification with respect to response rates, response speed, response quality, response bias, and response cost effectiveness. The paper also discusses implications of the results and offers suggestions for further research.

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American Journal of Business, vol. 17 no. 1
Type: Research Article
ISSN: 1935-519X

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Article
Publication date: 1 May 2023

John Fitzpatrick LeCounte

This study aims to contribute to the academic disciplines of entrepreneurship and management by developing a new theory that explains Founder-CEOs’ succession in family and…

431

Abstract

Purpose

This study aims to contribute to the academic disciplines of entrepreneurship and management by developing a new theory that explains Founder-CEOs’ succession in family and non-family firms. Many scholars failed to generate a specific theory to describe the succession of Founder-CEOs. Family firms remain complex enterprises comprising interconnectedness of cultural interests in which corporate governance occurs by families, Founder-CEOs and sometimes a board of directors.

Design/methodology/approach

This study’s design/methodology/approach reflects post-modernist epistemological and ontological perspectives for conducting systematic literature reviews. To identify relevant studies in the review, the several databases (Australian Business Dean’s Council Journal Quality List; EBSCO Database, including PsycINFO and Psych studies; Web of Science) and a mix of ranked journals from entrepreneurship, management and psychology were used.

Findings

The findings and results in this paper reflect the purpose, methodology and literature analysis culminating in 1,582 peer-reviewed studies. A total of 182 peer-reviewed studies met the criterion for review. Throughout the research process, a systematic literature review uncovered management literature gaps overlooked for decades during the theory-building process. Hence, developing a theory of Founder-CEOs succession used a combination of systematic, inductive, comparative and interactive approaches.

Originality/value

A Theory of Founder-CEOs Succession explains the strategic process of replacing a founder systematically. The promotion of, and incentives for, internal executives have been topics of great interest and deliberation among scholars and practitioners for a long time. This study contributes research implications for theory building in the academic disciplines of entrepreneurship and management by offering scholars and practitioners a theory that does not exist to describe Founder-CEOs’ succession encompassing both strategic successes and failures. By incorporating successes and failures, this study provides realistic reflections of Founder-CEOs.

Details

International Journal of Organizational Analysis, vol. 32 no. 3
Type: Research Article
ISSN: 1934-8835

Keywords

Available. Open Access. Open Access
Article
Publication date: 29 April 2021

Minh-Hoang Nguyen, Huyen Thanh Thanh Nguyen, Tam-Tri Le, Anh-Phuong Luong and Quan-Hoang Vuong

The current review aims to examine the growth trajectory, most influential documents, intellectual and conceptual structure of the literature regarding gender issues in family…

5052

Abstract

Purpose

The current review aims to examine the growth trajectory, most influential documents, intellectual and conceptual structure of the literature regarding gender issues in family business research.

Design/methodology/approach

The bibliometric analysis was performed using 224 documents from 1991 to 2020 extracted from the Web of Science database.

Findings

The review finds that this field's knowledge grew exponentially during the last three decades, mainly after 2003 and the last several years. Based on the co-citation analysis, three major research lines are identified: “Women's challenges and opportunities in the family business”, “Gender diversity in the family business corporate board”, and “Gender and family SMEs management.” The temporal co-word analysis reveals that “Gender diversity in the family business corporate board” is the latest research line.

Originality/value

By reviewing prominent cited references and documents that cited them, the authors provide the landscapes and research gaps of three major research lines for further development.

Details

Journal of Asian Business and Economic Studies, vol. 29 no. 3
Type: Research Article
ISSN: 2515-964X

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Article
Publication date: 20 February 2009

Jung E. Ha‐Brookshire

The purpose of this paper is to investigate whether the relationship between firm entrepreneurship and performance is dependent on firm size within a small and medium‐size…

3076

Abstract

Purpose

The purpose of this paper is to investigate whether the relationship between firm entrepreneurship and performance is dependent on firm size within a small and medium‐size enterprise (SME) population, using non‐manufacturing, industry‐specific empirical data.

Design/methodology/approach

Survey methodology was employed, using a national sample of US apparel import intermediary (AII) SMEs. Regression analysis was performed to determine the type of the moderator variable, firm size, and to test statistical significance of the firm size effect on the relationship between firm entrepreneurship and performance measures.

Findings

The paper's results suggested that the firm size effect was present on the relationship between firm entrepreneurship and SMEs' longevity performance; however, there was no statistical significance of the firm size effect on the relationship between firm entrepreneurship and SMEs' creative contribution or profitability performance.

Research limitations/implications

Although the study results were based on randomly selected nation‐wide surveys, the findings should be viewed as industry‐ and time‐specific; generalization to a larger population, or to other firms, must be undertaken with caution.

Practical implications

These findings help to recognize and understand the heterogeneity of the relationship between firm entrepreneurship and performance even within a population of SMEs. Therefore, the results suggest that AII SME managers should put different emphasis on firm entrepreneurship, depending on specific goals and the firm size.

Originality/value

The paper shows that different approaches to SME entrepreneurship research are needed to recognize diversity within an SME population. The study also supports the view that performance measures are not necessarily correlated; thus justification of selection is critical.

Details

Journal of Small Business and Enterprise Development, vol. 16 no. 1
Type: Research Article
ISSN: 1462-6004

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Book part
Publication date: 23 September 2005

Sumit K. Kundu and Maija Renko

In explaining international expansion and performance, the traditional explanation in international business literature has mainly offered country, and firm-level structural…

Abstract

In explaining international expansion and performance, the traditional explanation in international business literature has mainly offered country, and firm-level structural explanations for performance. Moreover, this literature has been biased toward larger, established multinational manufacturing companies (Dunning, 1958; Hymer, 1960; Aharoni, 1966; Vernon, 1966). This was understandable as, for much of the 20th century, manufacturing occupied the dominant share of the economy. However, by the early 1960s, the service sector already accounted for more than half of the domestic economic activity in developed nations. Today, even in international operations, the share of services is rapidly increasing. For example, the share of services in U.S. exports in 1997 had grown to 27%, and to 16% in U.S. imports (Contractor, 1999). Moreover, in sectors such as information technology, telecommunications or biotechnology, recent years have seen a proliferation of entrepreneurial start-up companies, where the characteristics of their founders and leaders appear to have as much, or greater, impact on performance, as traditional firm-level explanations. Since the late 1980s, the growth of venture capital markets and rise in entrepreneurship have been observed in technology-driven industries (The Economist, 1993; Gupta, 1989; Mamis, 1989). Could entrepreneurial and leadership factors assume greater importance in explaining performance, especially international performance, of younger companies in such sectors? This is the broad hypothesis pursued in this study.

Details

International Entrepreneurship
Type: Book
ISBN: 978-0-76231-227-6

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