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Article
Publication date: 13 December 2021

Yadong Shu, Ying Dai, Zujun Ma and Zhijun Hu

This study explores the impact of EN's (venture entrepreneurs, simplified as EN) jealousy fairness concerns coefficient on two-stage venture capital decision-making in cases of…

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Abstract

Purpose

This study explores the impact of EN's (venture entrepreneurs, simplified as EN) jealousy fairness concerns coefficient on two-stage venture capital decision-making in cases of symmetrical and asymmetrical information. It discusses the equilibrium solution of two-stage venture.

Design/methodology/approach

The principal-agent model was established based on multiple periods, and differentiated contracts were established at different stages. The validity of the models and the contract was verified by numerical simulation.

Findings

The results suggest that with the increase in the EN fairness concerns coefficient, the effort level of EN decreases continuously and decreases faster in the second stage because this is the last stage. The level of VC's (venture capitalist, simplified as VC) effort declines first and then increases; that is, VC will increase the effort level when the fairness concerns coefficient increases to a certain threshold. To motivate EN to pay more effort, VC will increase the incentive to EN in the first stage. However, it will reduce the level of incentive to EN in the second stage. In the limited stage of venture investment, consider that the fairness concerns of EN do not make the profits of EN and VC achieve Pareto improvement simultaneously.

Originality/value

First, the authors implanted fairness concerns into multi-stage venture capital and discussed the impact of fairness concerns on the efforts and returns of both parties. Second, among the influencing factors of the project output, the authors consider the bilateral efforts of EN and VC, the working capacity of EN, the initial investment scale, and the external uncertain environment.

Details

Kybernetes, vol. 52 no. 1
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 11 September 2017

Ziko Konwar, Nikolaos Papageorgiadis, Mohammad Faisal Ahammad, Yumiao Tian, Frank McDonald and Chengang Wang

The purpose of this paper is to examine the role of dynamic marketing capabilities (DMC), foreign ownership modes and sub-national locations on the performance of foreign-owned…

2152

Abstract

Purpose

The purpose of this paper is to examine the role of dynamic marketing capabilities (DMC), foreign ownership modes and sub-national locations on the performance of foreign-owned affiliates (FOAs) in developing economies.

Design/methodology/approach

Based on a sample of 254 FOAs in the Indian manufacturing sector (covering the period of 2000-2008 leading to 623 firm-year observations), the empirical paper adopts the panel data regression approach.

Findings

The study confirms the significant importance of DMC to assist FOAs to gain better sales performance in an emerging market such as India. The findings indicate that wholly owned foreign affiliates (WOFAs) have better sales performance than international joint ventures (IJVs), and majority-owned international joint ventures (MAIJVs) perform better than minority-owned international joint ventures in the Indian manufacturing sector. The results confirm that effective deployment of DMC leads to better sales performance in WOFAs and to some extent in MAIJVs. Perhaps the most interesting finding is that developing DMC in non-metropolitan areas is associated with higher sales growth than in metropolitan locations.

Originality/value

The study contributes to the literature by examining the impact of DMC on performance of FOA by considering the organised manufacturing sector in a large and fast growing developing economy. In addition, the results for the moderating effects provide novel evidence of the conditions under which DMC of FOA interact with different ownership modes and influence firm performance.

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Book part
Publication date: 11 August 2014

Yadong Luo

In the aftermath of the global economic crisis, the pursuit of new perspectives and different growth models is imperative. One of the most significant trends of our time is the…

Abstract

In the aftermath of the global economic crisis, the pursuit of new perspectives and different growth models is imperative. One of the most significant trends of our time is the rise of Asia in the world economy. After centuries of Western economic dominance, China, India, and the rest of the East, alongside emerging economies more broadly, are beginning to challenge the West for positions of global industry leadership and underlying managerial philosophies and perspectives. In this paper, I review some key philosophical insights from Asia that have underpinned the success of many Asian businesses for generations, hoping that it will encourage more efforts – conceptually, theoretically, and empirically – leading the discourse on fresh new perspectives on business in emerging economies in general, and on Asian management in particular.

Details

Multidisciplinary Insights from New AIB Fellows
Type: Book
ISBN: 978-1-78441-038-4

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Publication date: 21 July 2011

Jon S.T. Quah

In his autobiography, Chen Shui-bian (1999, p. 40) condemned the Koumintang's (KMT's) corruption and praised the Democratic Progressive Party (DPP) for being free from money…

Abstract

In his autobiography, Chen Shui-bian (1999, p. 40) condemned the Koumintang's (KMT's) corruption and praised the Democratic Progressive Party (DPP) for being free from money politics and corruption. The DPP fought the 1992 Legislative Yuan election campaign effectively on an anticorruption platform and used the same strategy in subsequent elections. If Chen Shui-bian had criticized the KMT for its involvement with “black gold” politics and had won the 2000 presidential election on his anticorruption platform, why was he and his family found guilty of corruption after his second term of office? The short answer is that even though he had promised to curb corruption, President Chen himself had succumbed to corruption after assuming office. In June 2002, Keesing's Contemporary Archives cited a poll in Taiwan that indicated that more respondents had perceived the DPP to be more corrupt than the KMT (Copper, 2006, p. 14).

Details

Curbing Corruption in Asian Countries: An Impossible Dream?
Type: Book
ISBN: 978-0-85724-819-0

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