Since the creation of the Single Market on 1 January 1993 there has been much discussion about the future of Europe and the significance of issues such as monetary union…
Abstract
Since the creation of the Single Market on 1 January 1993 there has been much discussion about the future of Europe and the significance of issues such as monetary union, federalism and continued moves to harmonization. But what has been the impact on business? To what extent has business restructured its manufacturing and logistics operations to meet the specific needs of the one European market? And what has been the impact of the new opportunities in Eastern Europe? Reports on the results of a survey of 300 multinational companies in Europe. The findings answer these key questions and also reveal major differences in the way in which North American, European and Far Eastern‐based companies view and operate in Europe.
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A new organisation, the European Consortium of Logistics Consultants, looks like providing a much‐needed multinational dimension to home‐based manufacturers.
Increasing government regulation of educational practice with public accountability through a national curriculum and external testing, the establishment of professional teaching…
Abstract
Purpose
Increasing government regulation of educational practice with public accountability through a national curriculum and external testing, the establishment of professional teaching standards and associated teacher accreditation requirements are strong forces in contemporary Australian education. This paper aims to identify and examine some of the current governmental policies and the associated institutionalised requirements for initial teacher education within this particular context.
Design/methodology/approach
It focuses particularly on preservice English teachers, and in addressing these issues, there is an exploration of the contested territory of the subject English, the key factors affecting initial teacher education students and the effects of professional standards on educators.
Findings
It is argued that there is a need for a much broader vision of educational purpose, a richer construction of subject English than is defined by the testing of traditional literacy skills and productivity outcomes, with a greater empowerment of teachers whose achievements are increasingly limited by narrow accountability measures.
Originality/value
Formal accreditation demands appear to constrain the various multimodal practices and creative, collaborative pedagogies that enhance educational experiences in the twenty-first century. The challenge ahead for educators is to find a balance between the contemporary pressures of a global society, external expectations, professional aspirations and personal values.
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Nikolaos Kavadis and Xavier Castañer
To show that differences in the extent to which firms engage in unrelated diversification can be attributed to differences in ownership structure.
Abstract
Purpose
To show that differences in the extent to which firms engage in unrelated diversification can be attributed to differences in ownership structure.
Methodology/approach
We draw on longitudinal data and use a panel analysis specification to test our hypotheses.
Findings
We find that unrelated diversification destroys value; pressure-sensitive Anglo-American owners in a firm’s equity reduce unrelated diversification, whereas pressure-resistant domestic owners increase unrelated diversification; the greater the firm’s free cash flow, the greater the negative effect of pressure-sensitive Anglo-American owners on unrelated diversification.
Research limitations/implications
We contribute to corporate governance and strategy research by bringing in owners’ institutional origin as a shaper of owner preferences in particular with regards to unrelated diversification. Future research may expand our investigation to more than one home institutional context, and theorize on institutional origin effects beyond the dichotomy between Anglo-American and non-Anglo-American (not oriented toward shareholder value maximization) owners.
Practical implications
Policy makers, financial analysts, owners, and managers may want to reflect about the implications of ownership structure, as well as promoting or joining corporations with particular ownership configurations.
Social implications
A shareholder value-destroying strategy, such as unrelated diversification has adverse consequences for society at large, in terms of opportunity costs, that is, resources could be allocated to value-creating activities instead. Promoting an ownership configuration that creates value should contribute to social welfare.
Originality/value
Owners may not be exclusively driven by shareholder value maximization, but can be influenced by normative beliefs (biases) stemming from the institutional context they originate from.
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Federico Beltrame, Luca Grassetti, Giorgio Stefano Bertinetti and Alex Sclip
This paper investigates the effect of entrepreneurial orientation (EO) on small- and medium-sized enterprises' (SMEs) access to credit. Starting with the idea that SMEs'…
Abstract
Purpose
This paper investigates the effect of entrepreneurial orientation (EO) on small- and medium-sized enterprises' (SMEs) access to credit. Starting with the idea that SMEs' strategy-making process, structures and behaviour can favour credit access, the authors also explore the moderating role of bank lending technologies in shaping this relationship.
Design/methodology/approach
This study relies on a unique survey of Austrian and Italian SMEs which contains detailed information on access to credit, EO dimensions, relationship lending and firm-level characteristics. The authors perform stepwise logistic regressions to assess whether EO interacts with SME's access to finance, and how relationship lending enhances this relationship.
Findings
Proactiveness, autonomy and competitive aggressiveness are important constructs for improving access to bank financing. Those dimensions became more important when a relationship bank is involved, suggesting a role for relationship lending in overcoming SMEs' opaqueness. In addition, relationship lending is crucial for innovative SMEs in overcoming credit denial rates.
Research limitations/implications
The small sample did not allow to analyse the effect of EO on discouraged borrowers. Furthermore, alternative measures of relationship lending (such as geographical proximity or the length of the relationship) and the share of credit granted by the relationship bank would have been interesting to further validate our results.
Practical implications
This study shows that EO dimensions and the type of lending technology are relevant for the financial success of SMEs. More precisely, the authors show that diversity within the banking system helps innovative, autonomous, proactive and competitive SMEs. These important pieces of soft information are injected into the final lending decision when a relationship bank is involved. The evidence suggests the need for SMEs to interact with local banks to fully exploit their EO posture.
Originality/value
To the authors' knowledge, this paper is the first attempt to analyse whether relationship lending can affect the EO–credit access relation.
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Archie MacDonald and David McMenemy
This study seeks to investigate the availability of creationist and intelligent design (ID) books in UK public libraries, whether any materials held are obtained as a result of…
Abstract
Purpose
This study seeks to investigate the availability of creationist and intelligent design (ID) books in UK public libraries, whether any materials held are obtained as a result of donation or purchase, and whether such materials, if available, are classified as religion or science.
Design/methodology/approach
A Freedom of Information Request (FOI) was sent to a subset of all the public library authorities in the UK. The FOI requests took the form of three queries/questions asked of the library service of each local authority. From a list of 218 library authorities, 68 were contacted either by email or by online contact form.
Findings
There was a relatively low level of reported donations of creationist and ID materials in UK public libraries. However, a high number of library authorities did have creationist and intelligent design materials on their catalogues via their own procurement mechanisms. There was no consistent nationwide pattern with regards to how these materials were classified and there was a wide geographic variation reported, with difficulties evidenced in whether to present creationist and intelligent design texts to the public as religious texts or science texts.
Research limitations/implications
The paper presents results from a subset of local authorities in the UK, thus cannot claim to be anything more than indicative of the sample.
Practical implications
The paper suggests that library authorities may need to be more consistent in how they present controversial materials to users.
Originality/value
The paper is the first to examine the issue of creationist materials in UK public libraries and how they are processed.
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Liam O’Callaghan, David M. Doyle, Diarmuid Griffin and Muiread Murphy
Economic opportunities can be nimble tools of bargaining. When denied, they can be potent tools of coercion. When showcased they can serve as powerful incentives to reach…
Abstract
Economic opportunities can be nimble tools of bargaining. When denied, they can be potent tools of coercion. When showcased they can serve as powerful incentives to reach agreement. If skillfully used to simultaneously pressure and entice, economic prospects can improve the chances of agreement within the respective negotiation teams in order for them to reach a deal across the table. This chapter critically analyzes the role of economic incentives and pressure in the nuclear negotiations between the international community and Iran. It discusses how an economic coercion and inducements campaign can help shape the internal consensus in Tehran in favor of a deal. In particular, a concerted effort to understand the opposing side’s negotiation band — the environment of “behind the table” constraints that shape the resulting bargaining strategy — can increase the chances of success in negotiation. Understanding a negotiator’s negotiation band requires a careful analysis of domestic political dynamics during the preparatory stage, active listening during negotiation, and outreach to deal advocates throughout the process to help them shift the domestic balance in favor of a deal.
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Lucie Denis, Hanane Beddi and Marc Valax
Accelerationist thinking needs an organizational lens to progress. This paper explores how family firms cope with growth pressure.
Abstract
Purpose
Accelerationist thinking needs an organizational lens to progress. This paper explores how family firms cope with growth pressure.
Design/methodology/approach
Five case studies of French family multinationals, including semi-directive interviews conducted with senior, middle managers and operational employees showed how these allegedly “human-oriented organizations” have handled growth.
Findings
Four organizational change initiatives were undertaken: (1) the transition from a functional structure to a matrix model, (2) the formalization of a corporate value system, (3) the centralization of an information and communication system and (4) the involvement of external consultants. Further analyses suggested an empowerment-control tension. In line with previous critical work on business empowerment practices, these organizational initiatives conceal a control reinforcement. This translates into internalization of repression, among family director, manager, and operational employees, both at headquarters and subsidiaries. Thus, one is misguided if turning to family firms to escape from becoming both subject and driver of control as they are submitted to the same market pressures as others, pressure condemned by accelerationists.
Practical implications
Accelerationism thinking aims at a post-capitalist era and is a fertile ground for collective reflection, which should feedback the family organization with a brighter future. The family firm can only acknowledge this compelling phenomenon and fulfill its role of society stakeholder raised to a higher level.
Originality/value
Family businesses, themselves, roll out their own repressive mechanisms due to the market system. This paper connects two literature studies: family business growth and accelerationism thinking.