The purpose of this paper is to propose two new constructs reflecting different levels of entrepreneurial intentions which precede actual venture creation: impulsive…
Abstract
Purpose
The purpose of this paper is to propose two new constructs reflecting different levels of entrepreneurial intentions which precede actual venture creation: impulsive entrepreneurial intention and deliberate entrepreneurial intention. With a large survey database, this research empirically illustrates the importance in differentiating these two constructs and explores factors facilitating entrepreneurial intentions. Specifically, it examines how different types of prior experiences and social networks contribute to these two levels of entrepreneurial intentions.
Design/methodology/approach
Data for the analysis come from a survey database on immigrant professionals in Silicon Valley, where 17 key professional associations in Silicon Valley participated (15 of which are Chinese and Indian). The survey was distributed to 10,840 individuals, and 2,273 responses were received.
Findings
This research enriches the understanding of a widely‐discussed concept of entrepreneurial intention by introducing two levels of entrepreneurial intentions: impulsive entrepreneurial intention and deliberate entrepreneurial intention. It is shown that personal characteristics and cultural background in general contribute to impulsive entrepreneurial intention, which reflects a person's willingness or desire to start up a new business in the future. On the other hand, for deliberate entrepreneurial intention, different types of prior experiences and active involvement in social network can be more important to potential entrepreneurs through helping them identify and configure various resources needed for subsequent entrepreneurial behaviors.
Originality/value
This is an original research. The analysis, discussion and result of the paper have not been published anywhere before submission of the manuscript. The differentiation of impulsive entrepreneurial intention from deliberate entrepreneurial intention in this paper helps understand entrepreneurial behaviors better and improve the predictability of entrepreneurial behaviors in the future.
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Xiaohong Zhang, Gaowen Tang and Zhaohong Lin
Based on the theory of “optimal contracting approach” and “the managerial power approach”, this paper aims to investigate whether senior executives of listed companies in China…
Abstract
Purpose
Based on the theory of “optimal contracting approach” and “the managerial power approach”, this paper aims to investigate whether senior executives of listed companies in China make use of their power to gain their own private benefits. The paper also compares compensation contracts between state- and private-owned enterprises to test whether there is a significant difference between senior executives from different ownership types of enterprises in terms of compensation contracts.
Design/methodology/approach
The paper raises four hypotheses based on the theories of “company agency”, “optimal contracting approach” and “managerial power approach”. After that, 5,680 A-share-listed companies of stock market in Shanghai and in Shenzhen Stock Market from 2008 to 2012 were taken as research samples to conduct a series of research analysis, including t-test, reliability analysis and regression analysis, with the help of SPSS 18.0.
Findings
The senior executives of listed companies in China could make use of their power to increase their own salary to gain power pay and, at the same time, company performance, company size and other factors that are important to influence the executive compensation. This paper further argues that senior executives of private-owned listed companies are more likely to use their power to obtain power pay and increase their own compensation. Additionally, the agency costs of Chinese listed companies are negatively related to the performance pay of senior executives, whereas there is no obvious negative correlation with the power pay of senior executives.
Practical implications
This paper takes multiple, in-depth approaches to study the relationship among managerial power, agency cost and executive compensation and to find out the differences in compensation contracts of senior executives between private-owned listed companies and state-owned companies. It also provides necessary suggestions to ensure the interests of stockholders, such as: optimizing the management structure of listed companies; improving the transparence of information disclosure of listed companies; establishing effective mechanism of incentive and constraint; and improving and standardizing the market of professional managers.
Social implications
The compensation contract of senior executives in China is critical to enhance enterprises’ performance, and it will become an important factor that will facilitate the interests of stockholders and management. However, this paper argues that some phenomena of over-payment of senior executives in listed companies cannot be explained by the theory of “optimal contracting approach”, but it is necessary and important to compare the differences of compensation contract of senior executives between private-owned listed companies and state-owned companies. A series of findings are proposed in this paper.
Originality/value
This paper made use of a principal analysis to extract the main factors that could represent the managerial power from different angles. In addition, this paper also compared the differences between compensation contracts of senior executives between private-owned listed companies and state-owned companies. Additionally, in this paper, the compensation of senior executives was divided into “power compensation” and “performance compensation”, which were used to test the relationship with the management cost of companies.
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Dionisis Semitekolos, Panagiotis Goulis, Despoina Batsouli, Elias P. Koumoulos, Loukas Zoumpoulakis and Costas A. Charitidis
The purpose of this paper is to develop modified composite materials that show improved mechanical and structural integrity.
Abstract
Purpose
The purpose of this paper is to develop modified composite materials that show improved mechanical and structural integrity.
Design/methodology/approach
To accomplish this goal, a novel functionalisation method of the carbon fibres (CFs) for the reinforcement of the composites surface was investigated. Through the electrografting of methacrylic acid (MAA) onto the surface of the CF, this treatment aims to selectively modify the surface of the carbon fabrics, in order to create active groups that can chemically react with the epoxy resin, under heat and pressure. By this way, better adhesion as mechanical interlocking between the resin and the reinforcement can be achieved.
Findings
The surface treatment was examined qualitatively by means of infrared spectroscopy, scanning electron microscopy and Raman spectroscopy. The CF reinforced polymers were manufactured via the hot-press technique and they were subsequently submitted to flexural, shear and nanoindentation test. Finally, the internal structural integrity was tested through micro-computing tomography.
Originality/value
Through this investigation, it will be determined if the electropolymerisation of MAA onto the CF surface enhances the mechanical and structural integrity of composite materials.