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Article
Publication date: 13 July 2015

Matteo Rossi, Alkis Thrassou and Demetris Vrontis

The purpose of this paper is to analyze the phenomenon of mergers and acquisition (M & A) in high-tech sectors with a special focus on biotechnological firms. Recent years…

901

Abstract

Purpose

The purpose of this paper is to analyze the phenomenon of mergers and acquisition (M & A) in high-tech sectors with a special focus on biotechnological firms. Recent years have witnessed an impressive wave of M & As, but these operations, despite their popularity, have produced mixed results for their stakeholders and presented no systemic vision.

Design/methodology/approach

The paper is descriptive and the result of a secondary data-based research. Methodologically founded on the works of Rossi et al. (2011, 2013) and following an extensive literature review on M & A processes in high-tech sectors, the paper analyzes the dynamics, trends and attributes biotechnological M & As.

Findings

The biotechnology sector, over the economically turbulent past few years, faced a distinct difficulty in attracting significant investor capital. Traditional pharmaceutical companies with sufficient cash from their existing sales but facing a dried-out product and patent pipeline have acquired innovative, but cash-poor biotech firms. The findings indicate that the trends in the biotech industry make consolidation in this sector inevitable. For acquiring firms, therefore, it will be necessary to realize a rigorous process of strategic target identification, due diligence and unified post-merger integration as the only way to create a sustainable shareholder value and high firm performance.

Research limitations/implications

The limitations of the paper are a consequence of its very nature, i.e. the fact that it is a descriptive, secondary data-based research. Further, empirical research is therefore necessary to test the findings, to refine the contextual parameters involved and to prescribe target-specific action.

Originality/value

The value of the paper stems from its definition of the link between the biotech industry attributes and M & A activities, consequently offering a valuable theoretical basis for empirical development and practical application, as well as a context for prescribed actions and processes.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 17 no. 1
Type: Research Article
ISSN: 1471-5201

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Article
Publication date: 2 March 2015

Matthew Patrick Morrissey and René Michel Rossi

The purpose of this paper is to present some new results about reflective cold protective clothing (i.e. those featuring metal coatings), and compare and contrast the data with…

473

Abstract

Purpose

The purpose of this paper is to present some new results about reflective cold protective clothing (i.e. those featuring metal coatings), and compare and contrast the data with other recent research work.

Design/methodology/approach

The authors used a thermal manikin and a guarded hot plate to determine the thermal resistance of different textile assemblies and garment featuring plasma-deposited metal-coated insulation and interlayers.

Findings

Depending on the exact approach, the authors show that metal coatings can increase the thermal resistance of textile assemblies by ∼30-75 per cent.

Practical implications

New data on reflective cold weather clothing show that metal coatings could be an important addition to cold weather clothing, especially those featuring high air permeability/optical porosity insulation. Plasma-deposited metal coatings cause the lowest increase in weight.

Originality/value

This paper provides new data about the efficacy, in terms of thermal resistance, of metal coatings for cold weather clothing.

Details

International Journal of Clothing Science and Technology, vol. 27 no. 1
Type: Research Article
ISSN: 0955-6222

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Article
Publication date: 28 October 2021

Jamel Chouaibi, Matteo Rossi and Nouha Abdessamed

The purpose of this paper is to examine the negative impact of corporate social responsibility (CSR), business ethics and responsible corporate governance on tax avoidance within…

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Abstract

Purpose

The purpose of this paper is to examine the negative impact of corporate social responsibility (CSR), business ethics and responsible corporate governance on tax avoidance within a sample of 119 French industrial companies from 2010 to 2019.

Design/methodology/approach

To test the current hypotheses of this study, the authors applied linear regressions with panel data using the Thomson Reuters ASSET4 database from a sample of 119 French companies over the period of 2010–2019.

Findings

The results show that companies with no conduction of CSR activities are more aggressive in the avoidance of taxes than others, confirming the idea that CSR could be seen as a facet of corporate culture that affects business corporate tax avoidance.

Practical implications

The results have interesting implications for investors and other partners who are interested in the business. Thus, for the government, to develop financial transparency, the improvement of the means of legal action such as the tax administration and the support of the action of civil society are pivotal to strengthen the legitimacy of tax.

Originality/value

This work is one of the studies that examine the effect of CSR, ethics and responsible governance on tax avoidance.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 3
Type: Research Article
ISSN: 1059-5422

Keywords

Available. Open Access. Open Access
Article
Publication date: 2 July 2024

Virginia Fani, Ilaria Bucci, Monica Rossi and Romeo Bandinelli

Examining synergies between Lean, Industry 4.0, and Industry 5.0 principles, the aim is to showcase how Lean's focus on people enhances Industry 5.0 implementations, leading to…

1294

Abstract

Purpose

Examining synergies between Lean, Industry 4.0, and Industry 5.0 principles, the aim is to showcase how Lean's focus on people enhances Industry 5.0 implementations, leading to the development of the Lean 5.0 paradigm. In addition, insights from artisanal industries, like the fashion one, are specifically collected.

Design/methodology/approach

First, a literature review was conducted to define a comprehensive framework to understand how Lean fits into the Human-Centric (HC) paradigm of Industry 5.0. Second, a case study was employed to give empirical insights and identify practical initiatives that brands can pursue, involving two best-in-class leather goods brands located in Italy.

Findings

A conceptual framework to pave the way for new paradigm Lean 5.0 was defined and validated through a case study. To path the way for a case study in the fashion industry, the Lean HC paradigm is detailed into domains and related categories to group practices. The empirical insights demonstrate that Lean HC actions can be effectively supported by Industry 4.0 technologies in traditional sectors like the fashion industry, shifting towards Industry 5.0.

Practical implications

The proposed framework and related practices can be used by companies to facilitate their transition towards Industry 5.0, leveraging on Lean Manufacturing.

Originality/value

The innovative contribution of the present work mainly refers to the proposed conceptual framework, encompassing Lean, HC and Industry 4.0 and introducing Lean 5.0 paradigm. The case study enriches the empirical contributions in the fashion industry.

Details

Journal of Manufacturing Technology Management, vol. 35 no. 9
Type: Research Article
ISSN: 1741-038X

Keywords

Available. Open Access. Open Access
Article
Publication date: 21 June 2022

Maria Gaia Soana, Andrea Lippi and Simone Rossi

This paper investigates the stock market reaction to three different events related to the UEFA Champions League – the announcements of draws, odds and match results. The aim of…

1677

Abstract

Purpose

This paper investigates the stock market reaction to three different events related to the UEFA Champions League – the announcements of draws, odds and match results. The aim of the paper is to test whether these events are informative for stock market operators, i.e. whether they produce abnormal returns.

Design/methodology/approach

Applying the event study methodology, the authors investigate the stock market reaction before (at two events: the draw date and on the release of betting odds) and after the matches of 11 listed soccer teams in the period 2003–2019. The authors also conduct OLS regression analyses in order to disentangle the impact of firm specific variables and match characteristics on cumulative abnormal returns.

Findings

This paper finds that match outcomes affect the stock market performance of listed teams, while the announcements of draws and odds do not. More specifically, the market does not consider match outcomes involving wins and ties as informative events, while it penalizes losing teams. Moreover, investor reactions to events related to the UCL competition depend more on match characteristics than on company specific variables.

Originality/value

The study enriches the ongoing debate about the impact of soccer team results on stock market performance in several ways: using the widest time span ever adopted in this area; focusing on UCL, which is the most important soccer competition played by private clubs; disentangling for the first time the effects of draws, odds release and sporting outcome on stock returns of listed soccer clubs.

Details

EuroMed Journal of Business, vol. 19 no. 2
Type: Research Article
ISSN: 1450-2194

Keywords

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Book part
Publication date: 12 March 2020

Giorgio Mion and Cristian R. Loza Adaui

Public-interest entities – among which are listed companies – are obliged to publish nonfinancial disclosure in some countries and regions. The European Commission established…

Abstract

Public-interest entities – among which are listed companies – are obliged to publish nonfinancial disclosure in some countries and regions. The European Commission established mandatory nonfinancial disclosure by Directive 2014/95/EU. While a large body of literature was developed on sustainability reporting quality (SRQ) in voluntary context, evidence about the effect of mandatory nonfinancial disclosure on SRQ is controversial and previous experiences worldwide did not make clear if obligatoriness improves SRQ. This chapter aims to bridge the gap of empirical evidence about this phenomenon in European countries, focusing on first implementation of new legislation by Italian and German companies. The research has an explorative character and it adopts content analysis methods performed on sustainability reporting practices of companies listed in FTSE-MIB and DAX 30. The analysis aims to understand if obligatoriness affects SRQ, causes some changes in reporting practices such as harmonizing Italian and German ones by performing a cross-country comparison. The findings suggest that obligatoriness improves reporting quality and, above all, it fills the gap between different countries by fostering the adoption of international guidelines and the consequent introduction of some content, such as materiality analysis and quantitative measures of social and environmental performance.

Details

Non-Financial Disclosure and Integrated Reporting: Practices and Critical Issues
Type: Book
ISBN: 978-1-83867-964-4

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Article
Publication date: 29 May 2009

Rodrigo Rossi, Marcelo Krajnc Alves and Hazim Ali Al‐Qureshi

The purpose of this paper is to investigate the application of the element‐free Galerkin (EFG) method to the simulation of metal forming processes and to propose a strategy to…

379

Abstract

Purpose

The purpose of this paper is to investigate the application of the element‐free Galerkin (EFG) method to the simulation of metal forming processes and to propose a strategy to deal with volumetric locking problem in this context.

Design/methodology/approach

The J2 elastoplastic material model, employed in the work, assumes a multiplicative decomposition of the deformation gradient into an elastic and a plastic part and incorporates a non‐linear isotropic hardening response. The constitutive model is written in terms of the rotated Kirchhoff stress and the logarithmic strain measure. A Total Lagrangian formulation of the problem is considered in order to improve the computational performance of the proposed algorithm. The imposition of the essential boundary conditions and also of the unilateral contact with friction condition are made by the application of the Augmented Lagrangian method. Here, aspects related to the volumetric locking are investigated and an F‐bar approach is applied.

Findings

The results show that the proposed approach presents no volumetric locking phenomenon when using the mean dilation approach. Moreover, differently from finite element approximations, no hour‐glass instabilities in the deformation pattern are observed, avoiding in this way the need to devise additional stabilization procedures in the proposed procedure.

Originality/value

This paper demonstrates the implementation and validation of the mean dilation approach, in the scope of the EFG, which was successful in coping with the volumetric locking phenomena and presented no hour‐glass instabilities in the problem cases considered in this work.

Details

Engineering Computations, vol. 26 no. 4
Type: Research Article
ISSN: 0264-4401

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 September 2024

Maria Testa

This paper aims to carry out a comprehensive overview of the academic debate on utilities’ non-financial reporting by highlighting the main issues and the emerging gaps.

264

Abstract

Purpose

This paper aims to carry out a comprehensive overview of the academic debate on utilities’ non-financial reporting by highlighting the main issues and the emerging gaps.

Design/methodology/approach

Using a structured literature review, this study identifies the state of the art, maps the evolution of non-financial reporting in utility companies and reveals unexplored issues and aspects.

Findings

A critical analysis of the existing academic debate shows the development of utilities’ non-financial reporting literature and the focus of this debate. It provides insight into how utilities pay attention to non-financial reporting, what role this plays in corporate actions and relationships with stakeholders and what research gaps need further investigation.

Research limitations/implications

This study provides some useful recommendations to practitioners and regulators to be more conscious of the weaknesses and criticalities of utilities’ non-financial reporting and to address them when building such reporting. However, this study considered only articles published in peer-reviewed academic journals.

Originality/value

A comprehensive literature review in the utilities’ non-financial reporting area is timely, given the increase in this type of reporting. The study has an original focus and develops an analytical framework highlighting the peculiarities of utilities.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

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Article
Publication date: 24 October 2023

Jamel Chouaibi, Giuseppe Festa, Gazi Mahabubul Alam and Matteo Rossi

The aim of this study is to investigate potential relationships between the corporate governance system and the innovation development process, with a specific focus on the…

120

Abstract

Purpose

The aim of this study is to investigate potential relationships between the corporate governance system and the innovation development process, with a specific focus on the agri-food sector in the Tunisian context.

Design/methodology/approach

Most studies on innovation management have shown the collective nature of the innovation process, resulting from the multiple interactions that can be established between various actors, internal and external to the enterprise perimeter, which is increasingly digitally open, especially in the COVID-19 era. More specifically, the implementation of an innovation strategy is a risky issue for businesses, most of all when considering its financial requirements and impacts, and thus, appropriate management plays a relevant role in this respect.

Findings

Statistical tests, operated on a sample of 80 Tunisian companies, show that the style of management and the concentration of ownership exert significant influence on the dynamism of technological innovation in the agri-food sector.

Originality/value

The involvement and the commitment of institutional investors can contribute to stimulate the innovation process in the agri-food sector, providing related implications with significant impact, at the scientific and managerial level.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Available. Open Access. Open Access
Article
Publication date: 16 May 2023

Giuseppe Festa, Maria Teresa Cuomo, Cinzia Genovino, Gazi Mahabubul Alam and Matteo Rossi

The main aim of this research was to investigate whether and how digitalization affects sustainability and performance in wine tourism.

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Abstract

Purpose

The main aim of this research was to investigate whether and how digitalization affects sustainability and performance in wine tourism.

Design/methodology/approach

Based on the data emerging from the 2019 National Report on Wine Tourism from the National Association of “Wine Cities” in Italy (the most extreme case in the world of wine), three macro-agglomerates were investigated: digitalization, sustainability and performance, adopting descriptive and inferential statistics.

Findings

Although rigorous correlation between adopted digitalization and performed sustainability on one side and performed sustainability and market performance on the other cannot be verified for the 92 wineries under investigation, there is visible evidence that the more digitalized wineries are, the more sustainable they become and the better their performance. Evidence was not found to support the idea that the more sustainable wineries are, the more they are digitalized and the better their performance. Research implications and limitations to theoretical and practical application have been discussed.

Originality/value

Wine tourism, which is naturally associated with rural tourism, is a form of tourism in which sustainability has strong relevance, particularly considering the future needs/desires of post-pandemic tourists. At the same time, digitalization, especially in pandemic and post-pandemic tourism, is credited with developing a huge impact in this business, although wine tourism is most probably conceivable as a meta-market, with a strong cultural essence. In this respect, a digitalization > sustainability > performance approach seems practicable and globally profitable.

Details

British Food Journal, vol. 125 no. 9
Type: Research Article
ISSN: 0007-070X

Keywords

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