Zhengfei Guan and Feng Wu
The purpose of this paper is to propose a general framework for modeling heterogeneous risk preferences of agricultural producers and identifying the underlying factors that…
Abstract
Purpose
The purpose of this paper is to propose a general framework for modeling heterogeneous risk preferences of agricultural producers and identifying the underlying factors that affect risk preferences.
Design/methodology/approach
This paper nests the risk preference function in a general production decision framework to test and model producers’ risk preferences. The framework allows for both production and price risk, and accommodates potential inefficient behavior. Panel data and the GMM method are used in the empirical estimation.
Findings
The results in this study confirmed the hypothesis of heterogeneous risk preferences. Farmers are found to have decreasing absolute risk aversion. Both farmer characteristics and socioeconomic factors have significant impact on producers’ risk preferences. The results suggest that ignoring heterogeneity in risk preferences across individuals and how non-wealth variables could affect farmers’ risk preferences could result in biased economic behavior analysis.
Originality/value
It is generally assumed in the literature that risk preferences are homogeneous among farmers at given wealth. This is a strong assumption and there are abundant evidences that suggest otherwise. This paper makes contributions to the literature by proposing an approach to modeling heterogeneous risk preferences and identifying the factors that affect preferences.
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Feng Wu, Zhengfei Guan and Robert Myers
– The purpose of this paper is to provide a unified theoretical framework that explains farm capital structure choice.
Abstract
Purpose
The purpose of this paper is to provide a unified theoretical framework that explains farm capital structure choice.
Design/methodology/approach
The framework accommodates different credit access scenarios and heterogeneous risk profiles of borrowers. It recognizes that the costs of capital are endogenously determined, reflecting the degree of credit risk and accessibility to credit markets. Based on the proposed model and the comparative statics derived thereof, the paper empirically tests the impacts of different factors on capital structure choice.
Findings
Based on the theoretical framework, the paper derived the impacts of different factors on capital structure choice using comparative statics. Results suggest that the potential determinants of capital structure have varying effects at different ranges of leverage. Empirical evidence supports the theoretical model.
Originality/value
Despite all of previous work on various aspects of farm capital structure choice, a framework that encompasses each of the different assumptions and scenarios is still lacking. The theoretical model integrates credit risk models and accommodates endogenous cost of capital, providing a comprehensive framework for studying farm capital structure choice and its determinants. The results provide insights that could help policy makers and lenders develop effective instruments to manage, monitor, and influence the financial leverage of farms at different quantiles of debt ratio.
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Abstract
Purpose
This study aims to examine how and when leader humility influences subordinates’ proactive customer service performance (PCSP). Drawing upon the conservation of resources theory, this study theorizes a moderated mediation model with relational energy as the mediator and person–supervisor fit (P-S fit) as the moderator.
Design/methodology/approach
This study conducted a three-wave survey in 20 hotels in China, collecting 467 valid questionnaires from frontline employees and supervisors. Hierarchical regression analysis and the PROCESS procedure were adopted for data analyses.
Findings
Leader humility can facilitate followers’ PCSP, and relational energy mediates this relationship. Furthermore, P-S fit amplifies leader humility’s direct influence on relational energy, as well as magnifies leader humility’s indirect effect on PCSP through relational energy.
Research limitations/implications
Companies need to be more concerned about selecting qualified candidates for management positions and fostering their humility via training, focus on employees’ relational energy and P-S fit and attempt to encourage PCSP in multiple ways.
Originality/value
Research on PCSP has largely neglected the influence of leader humility, which has the potential to be particularly effective in today’s hospitality industry, characterized by high dynamics. This study extends the literature on PCSP by connecting it with leader humility. It also provides new insights into the mechanism and boundary condition from a relational and resource perspective.
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Drawing on conversation of resources theory, the present paper aimed to investigate the effect of strengths-based leadership on follower career satisfaction and the mediating role…
Abstract
Purpose
Drawing on conversation of resources theory, the present paper aimed to investigate the effect of strengths-based leadership on follower career satisfaction and the mediating role of follower strengths use as well as the moderating role of emotional exhaustion in the relationship.
Design/methodology/approach
Research data were gathered at 3 time points with a sample of 210 participants working in various organizations in China. Structural equation model (SEM) was applied to examine the authors' hypotheses.
Findings
The results indicated that strengths-based leadership has a positive impact on follower career satisfaction and follower strengths use fully mediates the effect of strengths-based leadership on follower career satisfaction. More importantly, emotional exhaustion enhanced the direct relationship between strengths use and career satisfaction and the indirect association of strengths-based leadership with follower career satisfaction through follower strengths use.
Research limitations/implications
The main limitation of the present paper was the single source of research data.
Originality/value
The present paper advances strengths-based leadership theory and research and provides a new insight into cultivating employee career satisfaction.
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Francis R. Ille and Claude Chailan
The purpose of this paper is to compare how some firms from China and some from other emerging countries (EC) are using a variety of branding strategies to improve their global…
Abstract
Purpose
The purpose of this paper is to compare how some firms from China and some from other emerging countries (EC) are using a variety of branding strategies to improve their global competitiveness. A total of 14 firms have been compared on criteria related to possible acquisition of foreign brands, development of local brands, personality of the leaders and in some cases use of ideological messages.
Design/methodology/approach
The paper is mostly based on case studies coming from literature, interviews from marketing executives of major enterprises from China or other EC. It is mainly exploratory in its approach.
Findings
The critical success factors for the competitiveness of emerging countries brands are either coming from the choice to create a local brand from scratch, to buy an existing famous brand, or to imitate successful foreign brands. Few strategic differences appear between Chinese firms and the ones from other EC. The factors explaining success or failure are linked to the type of industry and the way it relates to the country of origin effect, the level of marketing “maturity” as well as the personality and visibility of the entrepreneur.
Research limitations/implications
The study does not aim at being statistically representative, the firms which are selected may not be a full representation of Chinese firms branding strategy or from emerging nations.
Originality/value
The definition of the brand strategy for emerging countries firms is a relatively new subject and this study is a contribution to helping enterprises in finding the best approach as well as giving examples for academic studies on Chinese firms marketing efficiency.
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Guoquan Chen, Jingyi Wang, Wei Liu, Fen Xu and Qiong Wu
This paper aims to theoretically investigate a knowledge management model from the combined perspective of knowledge acquisition and knowledge application and its effect on…
Abstract
Purpose
This paper aims to theoretically investigate a knowledge management model from the combined perspective of knowledge acquisition and knowledge application and its effect on organizational performance.
Design/methodology/approach
This study reviews prior research on knowledge acquisition and knowledge application, puts forward the concepts of “the extensiveness of knowledge acquisition” and “the concentration of knowledge application” and more importantly proposes an integrated model by combining these two dimensions. Four case examples of enterprises are subsequently described and analyzed to illustrate the sources of knowledge acquisition, the objects of knowledge application and their influences on organizational performance.
Findings
Four knowledge management modes and their impacts are confirmed in this study. Specifically, the organization of the turbojet engine mode (high extensiveness of knowledge acquisition and high concentration of knowledge application) can achieve good performance. The pipeline mode (high extensiveness of knowledge acquisition and low concentration of knowledge application) is the second, which has limited influence on good organizational performance. Organizations with the flashlight mode (low extensiveness of knowledge acquisition and high concentration of knowledge application) can achieve limited performance under the appropriate environment. The candle mode (low extensiveness of knowledge acquisition and low concentration of knowledge application) is the worst, performance of which is poor due to the break of the knowledge chain.
Practical implications
This paper holds that organizations should actively use the turbojet engine mode, adopt the pipeline mode and the flashlight mode cautiously, and avoid falling into the candle mode.
Originality/value
To the best of the authors’ knowledge, this study is among the first to propose the concepts of “the extensiveness of knowledge acquisition” and “the concentration of knowledge application,” and provides a combined model for analyzing differences in organizational performance from the perspective of knowledge.
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Jielin Yin, Yijing Li, Zhenzhong Ma, Zhuangyi Chen and Guangrui Guo
This study aims to use the knowledge management perspective to examine the mechanism through which entrepreneurship drives firms’ technological innovation in the digital age. The…
Abstract
Purpose
This study aims to use the knowledge management perspective to examine the mechanism through which entrepreneurship drives firms’ technological innovation in the digital age. The objective is to develop a multi-stage integrated theoretical model to explain how entrepreneurship exerts its influence on firms’ technological innovation with a particular focus on the knowledge management perspective. The findings can be used for the cultivation of entrepreneurship and for the promotion of continuous technological innovation activities.
Design/methodology/approach
This study uses a case-based qualitative approach to examine the relationship between entrepreneurship and technological innovation. The authors first analyze the case of SANY and then explore the mechanism of how entrepreneurship can promote a firm’s technological innovation from the perspective of knowledge management based on the technology-organization-environment framework. An integrated theoretical model is then developed in this study.
Findings
Based on a case study, the authors propose that there are three main processes of knowledge management in firms’ technological innovation: knowledge acquisition, knowledge integration and knowledge creation. In the process of knowledge acquisition, the joint effects of innovation spirit, learning spirit, cooperation spirit and global vision drive the construction and its healthy development of firms’ innovation ecosystem. In the process of knowledge integration, the joint effects of innovation spirit, cooperation spirit and learning spirit help complete the integration of knowledge and further the accumulation of firms’ core knowledge resources. In the process of knowledge creation, the joint effects of mission spirit, learning spirit and innovation spirit encourage the top management team to establish long-term goals and innovation philosophy. This philosophy can promote the establishment of a people-oriented incentive mechanism that helps achieve the transformation from the accumulation of core knowledge resources to the research and innovation of core technologies. After these three stages, firms are passively engaged in the “reverse transfer of knowledge” step, which contributes to other firms’ knowledge management cycle. With active knowledge acquisition, integration, creation and passive reverse knowledge transfer, firms can achieve continuous technological innovation.
Research limitations/implications
This study has important theoretical implications in entrepreneurship research. This study helps advance the understanding of entrepreneurship and literature on the relationship between entrepreneurship and technological innovation in the digital age, which can broaden the application of knowledge management theories. It can also help better understand how to develop healthy firm-led innovation ecosystems to achieve continuous optimization of knowledge and technological innovation in the digital age.
Originality/value
This study proposes an integrated theoretical model to address the issues of entrepreneurship and firms’ technological innovation in the digital age, and it is also one of few studies that focuses on entrepreneurship and innovation from a knowledge management perspective.