R. Greg Bell, Abdul A. Rasheed and Sri Beldona
To date there is little understanding of the factors that impact the survival of foreign IPOs after they list on US stock exchanges. In this study, we examine how foreign IPO…
Abstract
To date there is little understanding of the factors that impact the survival of foreign IPOs after they list on US stock exchanges. In this study, we examine how foreign IPO survival is contingent on institutional factors associated with the firm’s home country. We also explore how corporate governance and organizational identity influence the survival of foreign IPOs in the United States. Results suggest that the US institutional environment supports foreign firms with more independent and professional leadership, and that knowledge-intense organizations have higher chances of long-term success after listing on US exchanges.
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Contemporary literature reveals that, to date, the poultry livestock sector has not received sufficient research attention. This particular industry suffers from unstructured…
Abstract
Contemporary literature reveals that, to date, the poultry livestock sector has not received sufficient research attention. This particular industry suffers from unstructured supply chain practices, lack of awareness of the implications of the sustainability concept and failure to recycle poultry wastes. The current research thus attempts to develop an integrated supply chain model in the context of poultry industry in Bangladesh. The study considers both sustainability and supply chain issues in order to incorporate them in the poultry supply chain. By placing the forward and reverse supply chains in a single framework, existing problems can be resolved to gain economic, social and environmental benefits, which will be more sustainable than the present practices.
The theoretical underpinning of this research is ‘sustainability’ and the ‘supply chain processes’ in order to examine possible improvements in the poultry production process along with waste management. The research adopts the positivist paradigm and ‘design science’ methods with the support of system dynamics (SD) and the case study methods. Initially, a mental model is developed followed by the causal loop diagram based on in-depth interviews, focus group discussions and observation techniques. The causal model helps to understand the linkages between the associated variables for each issue. Finally, the causal loop diagram is transformed into a stock and flow (quantitative) model, which is a prerequisite for SD-based simulation modelling. A decision support system (DSS) is then developed to analyse the complex decision-making process along the supply chains.
The findings reveal that integration of the supply chain can bring economic, social and environmental sustainability along with a structured production process. It is also observed that the poultry industry can apply the model outcomes in the real-life practices with minor adjustments. This present research has both theoretical and practical implications. The proposed model’s unique characteristics in mitigating the existing problems are supported by the sustainability and supply chain theories. As for practical implications, the poultry industry in Bangladesh can follow the proposed supply chain structure (as par the research model) and test various policies via simulation prior to its application. Positive outcomes of the simulation study may provide enough confidence to implement the desired changes within the industry and their supply chain networks.
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Petteri T. Leppänen, Aaron F. McKenny and Jeremy C. Short
Research in entrepreneurship is increasingly exploring how archetypes, taxonomies, typologies, and configurations can help scholars understand complex entrepreneurial phenomena…
Abstract
Research in entrepreneurship is increasingly exploring how archetypes, taxonomies, typologies, and configurations can help scholars understand complex entrepreneurial phenomena. We illustrate the potential for set-theoretic methods to inform this literature by offering best practices regarding how qualitative comparative analysis (QCA) can be used to explore research questions of interest to entrepreneurship scholars. Specifically, we introduce QCA, document how this approach has been used in management research, and provide step-by-step guidance to empower scholars to use this family of methods. We put a particular emphasis on the analytical procedures and offer solutions to dealing with potential pitfalls when using QCA-based methods and highlight opportunities for future entrepreneurship research.
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Nan Cui, Peng Xie, Yiran Jiang and Lan Xu
The purpose of the current study is to examine how and when home country identity salience of emerging market companies affects their overseas initial public offering (IPO…
Abstract
Purpose
The purpose of the current study is to examine how and when home country identity salience of emerging market companies affects their overseas initial public offering (IPO) performance
Design/methodology/approach
By using secondary data from multiple sources, this study empirically tests the proposed research framework in the context of Chinese companies' overseas IPO activities in the US stock markets.
Findings
The results demonstrate that home country identity salience positively affects overseas IPO performance, and thus can be recognized as the asset of foreignness. Cultural specification positively moderates the effect of home country identity salience on overseas IPO performance. Market internationalization also plays an important moderating role in the relationship between home country identity salience and overseas IPO performance.
Originality/value
The current study identifies a new factor, that is, home country identity salience, that can mitigate the liability of foreignness for emerging market companies in their overseas IPO activities. The study also documents the positive cultural impacts on overseas investors in a financial and international context.
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G. Tyge Payne, Miles A. Zachary and Matt LaFont
This chapter acknowledges the difficulties in the empirical study of social ventures – broadly defined as market-driven ventures that produce social change – that arise from the…
Abstract
Purpose
This chapter acknowledges the difficulties in the empirical study of social ventures – broadly defined as market-driven ventures that produce social change – that arise from the vast differences among social venture firms in terms of missions, goals, identities, strategies, and structures. In an effort to improve research in this area and advance the field of social entrepreneurship, the authors advocate approaching social ventures from a configurational perspective.
Design/methodology
This chapter begins with a discussion of what social ventures are and why organizational configurations – sets of firms that are similar across key characteristics – may be an appropriate perspective to utilize. Then, two methods – cluster analysis and set-theoretic analysis – are discussed in detail as ways to approach the study of social venture configurations. Details include descriptions of the techniques, instructions for use, examples, and limitations for each.
Implications
This chapter identifies research opportunities using configurations approaches in social venture research. Substantial possibilities for multilevel and temporally based research are discussed in depth.
Originality/value
A configurational approach can address the incongruence and non-findings in current social venture research and offers new opportunities for future research.
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Jiachen Yang and Michel W. Lander
In this study we investigated the effects of news reports on acquirer short-term performance. Our focus was on the extent to which key deal characteristics – the type of deal…
Abstract
In this study we investigated the effects of news reports on acquirer short-term performance. Our focus was on the extent to which key deal characteristics – the type of deal, during a merger wave or not or the presence of a significant premium – are made explicit. Moreover, we looked for the effect of the assessment of the deal characteristics by different key informants: board members, top management team members, and analysts. Configurations derived using the set-theoretic approach suggest that media-transmitted signals form complex interrelations among content and informant. We found that investors react positively to deals that are surrounded by unequivocal signals of synergy potential: they contain explicitly stated deal characteristics as well as deal endorsements from the boards and/or top management of acquirer and target companies. Analysts’ assessments of the deals seem to bear little influence on investor reaction. Meanwhile, investors react negatively to deals with low or absent media coverage as well as deals surrounded by signals of ambiguous synergy potential.
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In the first part of this article in our last issue P. L. HURRICKS considered the wear resistance of sprayed coatings when subjected to adhesive and abrasive action. In this part…
Abstract
In the first part of this article in our last issue P. L. HURRICKS considered the wear resistance of sprayed coatings when subjected to adhesive and abrasive action. In this part he is concerned with the friction of sprayed coatings on bearing and journal surfaces.
Muhammad Amin, Jianfeng Wu and Md Ziaul Haque
Integrating social network theory with signaling theory, the purpose of this research is to examine the impact of corporate political connections and executive’s international…
Abstract
Purpose
Integrating social network theory with signaling theory, the purpose of this research is to examine the impact of corporate political connections and executive’s international experience on Chinese firms initial public offerings (IPOs) performance in the USA.
Design/methodology/approach
This study used Securities Data Company (SDC) New Issues database to identify all Chinese firms that went public in the USA between 2003 and 2014. Consistent with previous research, IPO firms excluded from the sample include merger or acquisitions, spin-offs and initial stage listed firms. The final sample size is of 142 Chinese foreign IPOs in the US markets.
Findings
This study finds that firms with political connections perform significantly poor than firms without political connections. It shows that US stock markets react to the signals of political connections of Chinese foreign IPOs. In response, the Chinese foreign IPOs can signal international work experience of top executives to US investors. The results show that the executives’ international work experience has significant positive relationships on foreign IPO performance of Chinese firms. Moreover, this study finds that the interaction between corporate political connections and international experience pursues positive effects on the performance of foreign IPOs.
Originality/value
This research intends to extend the knowledge of how corporate political connections and international work experience affects the performance of Chinese firms attempting to access US capital markets. To date, scholars have not investigated the influence of corporate political connections on the amount of capital raised by foreign IPOs.
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Muhammad Amin, Jianfeng Wu and Rungting Tu
The purpose of this paper is to integrate the upper echelon theory with signaling theory and examine the impact of top management team (TMT) on the initial public offering (IPO…
Abstract
Purpose
The purpose of this paper is to integrate the upper echelon theory with signaling theory and examine the impact of top management team (TMT) on the initial public offering (IPO) performance of Chinese firms in the USA.
Design/methodology/approach
This study used Security Data Corporation (SDC) that is a central database for foreign IPOs in the USA. The authors identified 142 Chinese firms that issued stocks on the US markets between 2003 and 2014. This study used firm’s final prospectuses to collect data manually.
Findings
This study finds that the TMT characteristics such as functional heterogeneity and international exposure convey the positive signal of firm’s legitimacy to the US investors and increase the IPO performance.
Originality/value
This study extends the upper echelon perspective that has previously overlooked the signaling value of TMT characteristics in the foreign IPO studies. The top management plays an important role to the firm’s successful foreign market listing. Since China joined the WTO in 2001, a large number of Chinese firms have started IPOs in the USA, but there is a dearth of research on these firms. This study aims to contribute to the study of international business and management and describes that the TMT functional heterogeneity and international exposure have a significant role in the success of Chinese foreign IPOs.