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The emergence of the customer relationship portfolio of a new venture: a networking process
No full textInternational audienceWhile several studies have focused on the initial phases of new ventures and their first customer and supplier relationships, we have a limited understanding of how the new venture’s portfolio of customer relationships emerges. This paper aims to explore the emergence of the customer relationship portfolio of a new venture and to investigate the effects of early relationships on subsequent ones
Can agricultural and precious metal commodities diversify and hedge extreme downside and upside oil market risk? An extreme quantile approach
No full textInternational audienceThe cost-effectiveness measures for production, processing, and transportation adopted by wheat, rice, and corn farmers, as well as the price fluctuations of gold and silver, doubtlessly depend on the downside and upside price trends of global economic factors such as the oil market. This dependence between oil and agricultural commodities motivates an analysis of interdependence and spillover influence in extreme oil market scenarios. By means of an extreme quantile approach, this study models the return distribution of oil in relation to some of the most traded agricultural and precious metal commodities. We find that extreme lower quantiles of oil returns have a positive effect on the lower quantiles of gold, silver, and rice returns. These effects are more significant using daily-frequency data, while for weekly and monthly frequencies, the effect is less significant. The decrease in oil returns during a bearish oil market will cause a decrease in precious metal and rice returns; therefore, these cannot be used to hedge the downside risk of oil investments, especially in the short term. These commodities might only serve as a diversification strategy for oil investments. The lower quantiles of oil returns have either no effect, or a negative effect, on the lower quantiles of wheat and corn, making them suitable hedges for extreme downturns in oil prices
Application of Neural Networks to Short Time Series Composite Indexes: Evidence from the Nonlinear Autoregressive with Exogenous Inputs (NARX) Model
No full textInternational audienceThe aim of this paper is to extend the index of financial safety (IFS) approach with improving its predictive performance and to show the applicability of artificial neural networks to economic and financial short time series. To this end, prediction is performed by means of the nonlinear autoregressive with exogenous inputs (NARX) model that represents the neural networks and can emulate any nonlinear dynamic state space model. Thus, a NARX model, trained by means of Levenberg–Marquardt algorithm, was chosen since it gave the best performance. Results reveal that the NARX models are suitable for performing short time series composite indexes prediction
Testing for the underlying dynamics of bank capital buffer and performance nexus
No full textInternational audienceThis paper reveals the underlying dynamics between the capital buffer and bank performance in EU-27 countries. A dynamic panel analysis shows that capital buffer is significantly affected by bank performance and risk exposure. Remarkably, a threshold analysis identifies regime changes for the underlying relationships during the financial crisis of 2008. We find a positive relationship between the capital buffer and performance for banks that fall in the low performance regime, while a negative relationship is reported for the banks that belong to the high regime. Threshold results also show that buffer exerts a positive impact on bank performance. Although regulation reforms that aim to raise the capital requirements could improve bank performance and stability, these improvements are not homogeneous across banks
What Framework Promotes Saliency of Climate Change Issues on Online Public Agenda: A Quantitative Study of Online Knowledge Community Quora
No full textInternational audienceThough scientists have achieved consensus on the severity and urgency of climate change years ago, the public still considers this issue not that important, as the influence of climate change is widely thought to be geographically and temporally bounded. The discrepancy between scientific consensus and public’s misperception calls for more dedicated public communication strategies to get climate change issues back on the front line of the public agenda. Based on the large-scale data acquired from the online knowledge community Quora, we conduct a computational linguistic analysis followed by the regression model to address the climate change communication from the agenda setting perspective. To be specific, our results find that certain narrative strategies may make climate change issues more salient by engaging public into discussion or evoking their long-term interest. Though scientific communicators have long been blaming lack of scientific literacy for low saliency of climate change issues, cognitive framework is proved to be least effective in raising public concern. Affective framework is relatively more influential in motivating people to participate in climate change discussion: the stronger the affective intensity is, the more prominent the issue is, but the affective polarity is not important. Perceptual framework is most powerful in promoting public discussion and the only variable that can significantly motivate the public’s long-term desire to track issues, among which feeling plays the most critical role compared with seeing and hearing. This study extends existing science communication literature by shedding light on the role of previously ignored affective and perceptual frameworks in making issues salient and the conclusions may provide theoretical and practical implications for future climate change communication
Enterprise social media usage: The motives and the moderating role of public social media experience
No full textInternational audienceEnterprise Social Media platforms have been adopted and deployed in the organizations with the aim of improving employees' work performance through facilitating internal communications, knowledge sharing, and collaboration. Even though public social media platforms, such as Facebook, are widely adopted, enterprise social media face engagement issues from employees. In this study, we investigate the motives of using enterprise social media and the moderating effect of employees' public social media experience. By surveying 157 employees who use enterprise social media in their organizations, we find that the motives of information sharing, social interaction, and entertainment positively affect employees' usage of enterprise social media. Employees' public social media experience negatively moderates the effect of information seeking. The study contributes to social media literature by examining the effect of employees’ public social media usage on enterprise social media usage. The findings offer insights on how to motivate employees to engage in enterprise social media
How do social commerce-IT capabilities influence firm performance? Theory and empirical evidence
No full textInternational audienceWe theorized that the development of two contemporary social commerce-IT capabilities (social media and e-commerce) enables firms to engage online customers to improve their firm performance. We tested this theory by employing a secondary dataset on a sample of U.S. firms. The empirical analysis supported our theory in both examining the effects of social media and e-commerce as two individual capabilities and as two complementary capabilities. This study provides a unique organizational theory and empirical evidence on how social commerce-IT capabilities influence firm performance through the online engagement of customers
Manufacturing SMEs, network governance and global supply chains
No full textInternational audienceThe purpose of this paper is to investigate how small manufacturing firms develop and manage relationships with global suppliers and distributors. In so doing the authors aim to contribute to knowledge about SMEs and supply chain management (SCM)
Gold as Safe Haven for G-7 Stocks and Bonds: A Revisit
No full textInternational audienceWe examine the safe haven property of gold for stock and bond markets of G-7 countries. In doing so, we use the novel vector autoregressive for value-at-risk and the cross-quantilogram methods. These quantile-dependence measures help to examine how gold returns react to stock/bond returns when the markets are in a bearish state. The gold market is comparatively less sensitive to bond market innovations and more sensitive to stock market innovations. The tail dependence analysis, through cross-quantilogram, indicates that stock/bond returns significantly and positively spillover to the gold markets when both markets are in a bearish state. Furthermore, the findings of time-varying quantile dependence analysis, obtained by recursive sample estimations, are analogous to the full sample results. Hence, the evidence suggests that gold does not act as a safe haven for the stock and bond markets. Implications of the results are discussed