Ana Belén Alonso-Conde, Javier Rojo-Suárez and Sandra Rentas
First, this paper aims to study the extent to which students in business administration degrees are aware of the characteristics of the business ecosystem. Second, the degree of…
Abstract
Purpose
First, this paper aims to study the extent to which students in business administration degrees are aware of the characteristics of the business ecosystem. Second, the degree of knowledge of the benefits resulting from the interaction between the university-based business incubators and the universities are studied.
Design/methodology/approach
To focus the discussion, a survey is conducted, asking students their preferences as future professionals, as well as their knowledge about specific sources of financing, namely, venture capital and crowdfunding and other networks useful to foster the creation of companies such as business incubators.
Findings
Results reveal that the students under study mostly prefer to work as employees in a company. Additionally, these results suggest a poor knowledge from students regarding specific aspects related to entrepreneurship and, more specifically, business incubators. These empirical results underline the need to shift the focus of subject programmes towards a greater focus on entrepreneurship. Additionally, the results also draw attention to the need of fostering the relationship between business incubators and universities, so that students become aware of the support that these networks can provide to entrepreneurs in the early stages of business projects.
Research limitations/implications
The data analysis for this study is built based on a survey of students attending specific finance courses at a Spanish public university. It is worth noting that in this study we have based on the supply side whereby future research might focus on the point of view given by the firm’s recruitment of business administration students. In addition, to strengthen the conclusions drawn from this study, further research should increase the sample period and the outcomes achieved at other universities in different regions.
Practical implications
In terms of policy implications, the empirical findings highlight the relevance of understanding the effectiveness of entrepreneurship programmes, given the budgetary expenditure involved in entrepreneurship education.
Originality/value
The relevance of the issue has been highlighted through a literature review of the past 10 years. In terms of policy implications, the empirical findings highlight the relevance of understanding the effectiveness of entrepreneurship programmes, given the budgetary expenditure involved in entrepreneurship education.
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María Lourdes Arco-Castro, María Victoria López-Pérez, Ana Belén Alonso-Conde and Javier Rojo Suárez
This paper aims to identify the effect of environmental management systems (EMSs), commitment to stakeholders and gender diversity on corporate environmental performance (CEP) and…
Abstract
Purpose
This paper aims to identify the effect of environmental management systems (EMSs), commitment to stakeholders and gender diversity on corporate environmental performance (CEP) and the extent to which an economic crisis moderates these relationships.
Design/methodology/approach
A regression analysis was conducted on a sample of 14,217 observations from 1,933 firms from 26 countries from 2002 to 2010. The estimator used is ordinary least squares with heteroscedastic panel-corrected standard errors (PCSEs), which allows us to obtain consistent results in the presence of heteroscedasticity and autocorrelation.
Findings
The results show that EMSs and stakeholder engagement are mechanisms that drive CEP but lose their effectiveness in times of crisis. However, the presence of women on boards has a positive effect on CEP that is not affected by an economic crisis.
Research limitations/implications
The study has some limitations that could be addressed in the future. We present board gender diversity as a governance mechanism because its role is strongly related to non-financial performance. Future studies could focus on other corporate governance mechanisms, such as the presence of institutional or long-term investors. In addition, other mechanisms could be found that can counteract poor environmental performance in times of crisis. Finally, it might be useful to contrast these results with the crisis generated by the coronavirus pandemic.
Practical implications
The results obtained have important practical implications at the corporate and institutional levels. At the corporate level, they highlight, as essential contributions, that environmental management systems and stakeholder orientation are not effective in times of economic crisis, except for with the presence of women on the board.
Social implications
Following the crisis, the European Commission has promoted gender diversity on boards as a mechanism to improve the governance of entities – improving, among other aspects, sustainability. In this sense, another one of the practical implications of the study is support for the policies that the European Union has implemented over the last two decades.
Originality/value
The paper analyses how a crisis affects the moral and cultural institutional mechanisms that promote CEP. Gender diversity on the board of directors not only promotes environmental performance but also appears to be a governance mechanism that ensures this performance in times of crisis when the other mechanisms lose their effectiveness. The study proposes specific policies that help maintain environmental performance in an economic crisis.
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Juan David Gonzalez-Ruiz, Alejandro Arboleda, Sergio Botero and Javier Rojo
The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships…
Abstract
Purpose
The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships (P3s) and project finance (PF). Additionally, this study proposes the financial captured value (FCV) theory for measuring how much financial value lenders may capture by becoming sponsors through financing of sustainable infrastructure systems (SIS).
Design/methodology/approach
The investment valuation model was validated through the Aguas Claras wastewater treatment plant as a case study.
Findings
The empirical results show that lenders may capture financial value by converting outstanding debt into equity shares throughout the operation and maintenance stage. Furthermore, case study results provide new insights into the implications of the debt–equity conversion ratio on the relationship between the sponsors’ internal rate of return and the FCV.
Research limitations/implications
The most significant limitation is the lack of primary and secondary information on blue bonds. Thus, robust statistical analyses to contrast results were not possible.
Practical implications
Researchers and practising professionals can improve their understanding of how mezzanine debt, P3s and PF into an investment valuation model allows financing SIS using a non-conventional financial mechanism. The recommendations will benefit both the academia as well infrastructure industry in bridging the gap between design theory and practice.
Originality/value
Sustainability components have not been addressed explicitly or combined in the financing’s structuring. Therefore, the investment valuation model could be considered a novel methodology for decision making related to financing and investment of SIS.
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This paper aims to investigate the relationships amongst supply chain management (SCM) implementation, Industry 4.0 technologies, organisational ambidexterity and SMEs’…
Abstract
Purpose
This paper aims to investigate the relationships amongst supply chain management (SCM) implementation, Industry 4.0 technologies, organisational ambidexterity and SMEs’ performance in Australia. It further examines whether Industry 4.0 technologies and organisational ambidexterity have mediating effects on such relationships.
Design/methodology/approach
Research data were collected through a cross-sectional survey of a sample of 204 SMEs from different industries in Australia. The overall model fit and hypotheses were tested through confirmatory factor analysis (CFA) and structural equation modelling (SEM).
Findings
The statistical results reveal that successful SCM implementation, Industry 4.0 technologies and organisational ambidexterity approach through exploiting existing competencies and exploring new opportunities improve SMEs' performance in Australia. In addition, Industry 4.0 technologies and organisational ambidexterity are found to mediate the relationship between SCM implementation and SMEs’ performance.
Originality/value
The coexisting impacts of SCM implementation, Industry 4.0 technologies and organisational ambidexterity on SMEs’ performance, and how Industry 4.0 technologies and organisational ambidexterity mediate and affect the relationship of SCM implementation and SMEs’ performance have not been addressed previously in Australia. This study, thus, addresses these research gaps, which are expected to be beneficial to managerial practices to support SMEs in their strategic planning and performance enhancement goals.
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Haris Aslam, Abdul Qadeer Khan, Kamran Rashid and Saif-ur Rehman
This study analyzes the role of supply chain ambidexterity (SC-Ambidexterity) in developing supply chain resilience (SC-Resilience). We describe SC-Ambidexterity as a simultaneous…
Abstract
Purpose
This study analyzes the role of supply chain ambidexterity (SC-Ambidexterity) in developing supply chain resilience (SC-Resilience). We describe SC-Ambidexterity as a simultaneous application of supply chain adaptability (SC-Adaptability) and supply chain alignment (SC-Alignment) capabilities. We also consider the role of supply chain agility (SC-Agility) in the relationship between SC-Ambidexterity and SC-Resilience. We further suggest that the relationship between SC-Ambidexterity and SC-Resilience may be stronger in case of higher market uncertainty.
Design/methodology/approach
Based on the dynamic capabilities view (DCV) of the firm, we develop a set of hypotheses that are tested through a survey of manufacturing firms in Pakistan. The hypothesized model is tested through structural equation modeling (SEM).
Findings
The results of this study show a positive effect of SC-Ambidexterity on SC-Resilience. SC-Agility positively mediates the relationship between SC-Ambidexterity and SC-Resilience. However, our results show that this relationship does not vary at different levels of environmental uncertainty.
Originality/value
This study provides the seminal operationalization of SC-Ambidexterity in the supply chain context. It further shows the importance of SC-Ambidexterity and SC-Agility in contributing toward SC-Resilience.
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Araceli Rojo-Gallego-Burin, Francisco Javier Llorens-Montes, Maria N. Perez-Arostegui and Mark Stevenson
To analyze the effect of an ambidextrous supply chain strategy (ASCS) – i.e. the combination of exploration and exploitation practices – on each of the four dimensions of supply…
Abstract
Purpose
To analyze the effect of an ambidextrous supply chain strategy (ASCS) – i.e. the combination of exploration and exploitation practices – on each of the four dimensions of supply chain flexibility (SCF): information system, operating system, sourcing and distribution flexibility. Further, to evaluate the influence of implementing the ISO 9001 standard on the relationship between ASCS and SCF, and whether this certification directly affects the level of SCF. We ground our model in Resource Orchestration theory.
Design/methodology/approach
To perform this study, the authors used data collected from a sample of 145 non-ISO-certified firms and 157 ISO-certified firms.
Findings
ASCS does not affect all four dimensions of SCF in the same way. Rather, its effect is contingent on the presence of the ISO 9001 certification. An ASCS is shown to have a positive effect on information system flexibility irrespective of the presence of ISO 9001 certification whereas for the other three dimensions of SCF, the effect of ASCS is dependent on ISO 9001 implementation. Meanwhile, ISO 9001 implementation itself does not affect the level of SCF.
Practical implications
Managers can use the findings to configure their supply chain strategy based on the specific dimension(s) of SCF they seek to develop by implementing ASCS. Further, the results inform managers about the incentives for implementing ISO 9001.
Originality/value
Although prior studies have shown that an ambidextrous strategy enables firms and organizational units to adapt to the environment, there have been few prior studies on ambidexterity in a supply chain context. Further, although the extant literature has suggested that the ISO 9001 may facilitate ambidexterity, this link has remained largely theoretical. In fact, there is very little prior evidence on how the practice of ISO 9001 affects the supply chain.
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Beatriz López-Morales, Leopoldo Gutierrez, Francisco Javier Llorens-Montes and Araceli Rojo-Gallego-Burin
This study aims to test how three types of institutional pressure (normative, coercive, and mimetic) influence supply chain digital embeddedness (SCDE) and how SCDE benefits…
Abstract
Purpose
This study aims to test how three types of institutional pressure (normative, coercive, and mimetic) influence supply chain digital embeddedness (SCDE) and how SCDE benefits supply chain (SC) competences.
Design/methodology/approach
The authors develop and test hypotheses through structural equation modeling (SEM) based on data from 201 European firms. Institutional theory is applied to determine the reasons that lead SCs to embed digitally. SCDE is assessed through three dimensions: technology, infrastructure and culture. The data were analyzed using SEM-partial least squares (PLS-SEM) modeling with SmartPLS software.
Findings
The findings show a positive relationship of normative and coercive pressures to SCDE but no relationship between mimetic pressures and SCDE. Additionally, results confirm a positive relationship between SCDE and SC competences that contribute to SC competitive advantage obtaining.
Practical implications
The results underscore the importance of analyzing the environment when undertaking digital projects. Key issues include SC culture and infrastructure in these projects and the advisability of anticipating potential influence of digitalization projects on SC competences that support the chain’s competitive advantage.
Originality/value
This study contributes to institutional theory by providing empirical evidence of the individual effect of the three types of institutional pressure, with noteworthy lack of influence from mimetic pressures. The paper also contributes a conceptualization of SCDE composed of three dimensions: digital technologies, digital infrastructure and digital culture. Finally, the study advances the literature on SC competences.
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Araceli Rojo, Mark Stevenson, Francisco Javier Lloréns Montes and Maria Nieves Perez-Arostegui
The purpose of this paper is to analyse the relationship between environmental dynamism and supply chain flexibility (SCF) and to evaluate if two dynamic capabilities, i.e…
Abstract
Purpose
The purpose of this paper is to analyse the relationship between environmental dynamism and supply chain flexibility (SCF) and to evaluate if two dynamic capabilities, i.e. operational absorptive capacity (OAC) and organisational learning (OL), are necessary competences for firms to develop such a responsive supply chain strategy as flexibility.
Design/methodology/approach
Hypothesised relationships are tested with survey data from 302 Spanish manufacturing firms using structural equations modelling.
Findings
Environmental dynamism is positively associated with both OAC and OL, and both dynamic capabilities enable SCF. The authors also find that the relationship between environmental dynamism and SCF is partially mediated by both dynamic capabilities.
Research limitations/implications
The study contributes to the literature, for example, by determining when it is advantageous to develop SCF, by specifying what capabilities a firm needs to develop to align SCF with the environment, and by opening the black box that is the relationship between the environment and SCF.
Practical implications
Managers should develop SCF via OAC and OL when they detect a high degree of environmental dynamism. Knowing when this is necessary relies on a good understanding of the environment. OAC is found to be a stronger enabler of SCF than OL. The findings provide managers with an insight into why some firms are able to develop more effective responses to dynamic environments than others.
Originality/value
This study is one of only a limited number of studies that adopt a dynamic capabilities approach to supply chain management. Prior literature has shown that dynamic capabilities can aid in developing strategic, structural, and operational flexibility. The authors extend this literature by showing that OAC and OL have an effect on SCF.
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Araceli Rojo, Javier Llorens-Montes and Maria Nieves Perez-Arostegui
The purpose of this paper is to analyze whether supply chain (SC) ambidexterity improves supply chain flexibility (SCF) and its impact on SC competence and firm performance. A new…
Abstract
Purpose
The purpose of this paper is to analyze whether supply chain (SC) ambidexterity improves supply chain flexibility (SCF) and its impact on SC competence and firm performance. A new measurement instrument for SCF is proposed that takes into account the demands of the environment: SCF fit.
Design/methodology/approach
A theoretical model is developed to examine the relationships proposed. The hypotheses are tested with data from 302 manufacturing firms using a structural equations model methodology.
Findings
The results show that SC ambidexterity helps to achieve the optimal level of SCF and that supply chain management (SCM) is important to firm performance.
Research limitations/implications
This paper makes three contributions to the SCM literature: first, it develops the conceptual definition of SC ambidexterity and studies its effects at the SC level; second, it develops a new instrument to measure SCF known as SCF fit; third, it studies both the impact of SCF fit on SC competence and the importance of SC in firm performance.
Practical implications
This paper develops a measurement instrument that permits managers to diagnose the level of SCF and the correspondence/gap between current and optimal levels and to establish comparisons between different SC. It also indicates the importance of SCM for firm performance and the need to consider the SC as a whole.
Originality/value
This is one of the first studies to analyze ambidexterity in an organizational network like the SC. It shows that exploitation practices do not jeopardize SCF as long as they are accompanied by exploration practices. That is, high levels of exploration and exploitation are compatible in the SC and lead to the optimal level of SCF.
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Oscar Javier Montiel Méndez, Luisa Cagica Carvalho and Adriana Martinez Martinez
The relevance of entrepreneurship in the economic systems of the regions is well documented. Recently, a new concept has emerged in the entrepreneurship literature…
Abstract
The relevance of entrepreneurship in the economic systems of the regions is well documented. Recently, a new concept has emerged in the entrepreneurship literature, entrepreneurial ecosystem (EE), to analyze the dynamics of a given territory and its outputs and impact upon entrepreneurship. Moreover, it is also well documented the close relationship between entrepreneurship and family business (FB). Keeping in mind the multidimensionality of the latter, its scholars are beginning to look into the entrepreneurial elements embedded in the family processes and the influence of context.
After an extensive literature review made, a significant gap was found, given the historical relevance that FB (SMEs the vast majority) have in the global economic systems. A FB entrepreneurial ecosystem (FBEE) model is proposed based on the data collected from two case studies, on Portugal's wine industry, and Mexico's shoe industry, both artisan industries confronted with the urge to reinvent and adapt to face deep market and industry changes.
The results should indicate the feasibility of proposing a second level on the theory of EE, the FBEE, where both the family and business itself ultimately play a vital role in its success and impact the whole system.