Organizations and Markets in Emerging Economies
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Equilibrium and the Adjustment Process in the Number and Scope of Co-operatives in Morocco
Get PDFThe paper discusses the government policy that encourages the emergence of co-operatives and analyzes the co-operatives in light of their growth in number. It establishes a static equilibrium and highlights the co-operatives’ adjustment process (dynamic equilibrium).The methodology/approach consists of the development of a theoretical model, using the Nash equilibrium for the co-operative market, and the determination of a static equilibrium. It presents the data which includes variable measurements for the adjustment process for agricultural, artisanal, and fishery co-operatives in order to analyze the stochastic process of entry-and-exit flow of co-operatives. Accordingly, the paper estimates the co-operatives’ growth index speed of adjustment (SOA) as a function of the mean-reversion Ornstein–Uhlenbeck (OU) process.The theoretical results indicate that co-operatives’ earnings depend on the number of co-operatives, market-demand, and the capacity constraint. They also show that the margin for new entrants is a dynamic gap that especially depends on demand, capacity constraint and the profits. The empirical results indicate that co-operatives growth-index process is significantly mean reverting for all sectors, and the speed of adjustment for artisanal co-operatives is significantly higher than for those in agriculture and the fisheries
A Family Affair: A Quantitative Analysis of Third-Generation Successors’ Intentions to Continue the Family Business
Get PDFFamily businesses face a succession crisis where only 13% survive until the third generation (Lee-Chua, 2014). While there is sufficient literature on family business succession planning , research on the motivations behind next-generation engagement in family firms, especially for third-generation successors, is limited (Garcia, Sharma, De Massis, Wright & Scholes, 2018). Thus, the present study tested Garcia et al. (2018)’s model where perceived parental support and psychological control predict next-generation engagement, with family business self-efficacy and commitment to family business mediating this relationship. 118 third-generation successors were surveyed using established and newly developed scales based on previous literature. Mediation analysis showed that normative commitment partially mediated verbal encouragement and next-generation engagement, while affective commitment fully mediated parental psychological control and next-generation engagement. Results were also compared against 124 second-generation successors, revealing that there were no significant differences between generations. Combining these two datasets led to a new conceptual framework, where normative commitment partially mediated verbal encouragement and next-generation intention, while affective commitment partially mediated parental psychological control and next-generation intention. The results of the study can contribute to the enrichment of family business literature, particularly on the factors that influence the intentions of third-generation successors, and to the creation of effective succession plans
An Empirical Study of Affective Commitment: the Case of Machinery Enterprises in Hochiminh City
Get PDFThe study aims to investigate the impact of participation in decision-making (PDM) and perceived organizational support (POS) on affective commitment in machinery enterprises. The study applies structural equation modeling (SEM) to test the research hypotheses. The authors surveyed 220 employees who work in machinery enterprises to collect data for the research. The study results indicate that both PDM and POS positively impact affective commitment. The findings provide empirical evidence to support the theoretical models that PDM and POS have a positive effect on affective commitment. The findings have implications for management theory: PDM and POS are the key antecedents of affective commitment. The findings also have implications for practical management in the machinery enterprises that managers should practice both PDM and POS to increase affective commitment
Emotional Intelligence and Extra-Role Behavior of Knowledge Employees: Mediating and Moderating Effects
Get PDFThis study constructed a model to explore how emotional intelligence (EI) predicts organizational citizenship behavior (OCB) and counterproductive work behavior (CWB) via the mediators of job satisfaction (JS) and work engagement (WE). Furthermore, this study examined whether organizational justice (OJ) and person-organization fit (P-O fit) moderate the effect of EI on OCB and CWB. The model was tested using data from 540 knowledge employees in mainland China. This study found that JS and WE positively and partially mediated the association between EI and OCB, as well as negatively and partially mediated the association between EI and CWB. Moreover, OJ and P-O fit moderated the effect of EI positively on OCB and negatively on CWB. This study revealed the mechanism from EI to OCB and CWB through multiple mediators, identified two variables that may adjust EI-OCB and EI-CWB relationships, and proposed that organizations could promote OCB and diminish CWB of knowledge employees by employing certain human resource practices
Financial Development, Institutional Quality and Economic Growth: Evidence from ECOWAS Countries
Get PDFMost of the literature that explored the relationship between financial development and economic growth taking into consideration the roles played by institutional quality in the ECOWAS region still debates on the roles of institutional quality on economic growth. This study used data from 1996-2017 for 15 emerging economies within the ECOWAS by applying two-step SYS GMM (SGMM) estimators. The following conclusions were developed: first, the study discovered that financial development has no significant and positive impact on economic growth in the ECOWAS region. Secondly, regulatory quality and control of corruption, which are considered as institutional quality variables, have opposing results with control of corruption reducing growth as well as regulatory quality variable increasing growth. Again, the results indicate that capital formation has a positive association with growth and labor force influencing growth negatively. Finally, due to a lack of proper corruption control systems in the region and poor financial sector development, growth cannot improve
Chinese Cross-Border Acquisition Strategies in Japan – Changing from a Resource-Driven to a Market-Driven Approach
Get PDFThe aim of this research is the investigation of strategic behavior of Chinese investors in Japan when making cross-border acquisitions in recent times. While previous literature on acquisitions tended to show that Chinese acquirers were merely resource-driven, i.e. their main purpose was to acquire products, brands, and knowledge to be transferred back to the (Chinese) home market, our study suggests that the behavior of many Chinese firms has changed lately. In a pivotal study with 39 Chinese bidders taking over Japanese targets, we find that their strategy has become increasingly market-driven instead. As far as industry-wise acquisitions are concerned, Chinese firms are taking over Japanese hotels and recreation facilities in recent years for the purpose of providing services to Chinese tourists
The Effect of Financial Performance and Innovation on Leverage: Evidence from Indonesian Food and Beverage Sector
Get PDFThis article aims to investigate the determinants of firm’s capital structure (debt ratio) such as asset structure, profitability, agency cost, innovation and technology, and firm size as a moderating variable. This study used quarterly data from the financial statements of food and beverage firms at the Indonesia Stock Exchange with a purposive sampling method that met the research criteria with panel data analysis. The findings show that firm size and asset structure affect leverage positively; however, profitability and innovation and technology negatively affect the debt ratio, while agency cost does not affect leverage. All findings are in line with the hypotheses except agency cost. The firm size as a moderating variable shows strengthening of the interaction between agency cost and innovation with leverage. However, interacting with firm size weakens the effect of the relationship between assets structure and profitability with the debt ratio. Managerial implications of the target of debt ratio that creates the value of the firm need to be flexible and controlled by the interaction of the firm size with firm characteristics and innovation to achieve an optimal firm value of F & B sector
State Neutrality, Business Elite and the Lack of Export Services Development in Chile: an Exploratory Qualitative Analysis
Get PDFThe process of economic development implies, among other things, the expansion of exports beyond natural resources and towards more knowledge intensive sectors. However, a common situation in developing countries is the lack of an ‘entrepreneurial push’ from economic and political elites in order to diversify such exports. The Chilean economy is not an exception as it is still characterized by an export basket anchored in natural resources, regardless the consensus among society on the importance of diversifying the Chilean economy towards new industrial and service sectors, both beyond and within natural resources. This paper focuses on the causes of the absence of such an ‘entrepreneurial push’ towards export service sector in Chile and, through a qualitative exploratory analysis of elite perceptions, presents the predominant hypothesis among key stakeholders.
 
Impact of Organizational Characteristics, CEO Education, and Firm Ownership on the Adoption and Effectiveness of High Performance Work System in Vietnam
Get PDFIn spite of tremendous research on the relationship between HPWS and firm performance, a paucity of them has examined the antecedent of HPWS. Data were collected from CEOs and HRM managers from 311 firms including state-owned, private and foreign invested enterprises. Multiple regression analysis suggests that (1) firm characteristics (firm capital, firm age) and CEO’s education were positively associated with the adoption of Ability-Motivation-Opportunity bundles of HPWS, (2) HPWS were positively associated with firm performance, and (3) ownership style moderates the relationship between HPWS and firm performance in different manners. Theoretical and practical implications were discussed
Value Chain and Economic Development: the Case of the Colombian Coffee Industry
Get PDFDependency on natural resources has made economies unstable because of the fluctuation of commodity prices. However, coffee production has not had this effect on the Colombian economy owing to the process of upgrading the value chain, with the Colombian National Federation of Coffee Growers taking the lead. Using a case study methodology, the present article aims to analyse how the process of upgrading the value chain in the Colombian coffee industry has contributed to the economic development of the country, represented as an improvement of the country’s infrastructure and living conditions, economic growth, industrialisation level and education access perspectives