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Tail dependence risk exposure and diversification potential of Islamic and conventional banks
No full textInternational audienceThis paper undertakes a rolling window comparative analysis of risks for portfolios consisting of GCC Islamic and conventional bank indices. We draw our empirical results by employing canonical, drawable and regular vine copula models, as well as by implementing a portfolio optimization method with a conditional Value-at-Risk constraint. We find evidence of higher riskiness in the group of Islamic banks relative to the group of conventional banks across each of the financial rolling window scenarios under consideration. Specifically, a greater negative (nonlinear) tail asymmetric dependence is observed in the pairs of Islamic banks’ relationships. The results also show that the optimal portfolio model supports a clear preference towards the group of conventional banks in regard to risk minimization and diversification benefits
Initial and further business development: highlights from business model, open innovation, and knowledge management perspectives
No full textInternational audienceIn a technological spin-off, initial and further business development is a two-stage challenge of survival and growth. Spin-offs' business development relies on the design and renewal of an adequate business model, effective open innovation, and advanced knowledge management. This study describes the initial and further business development of a successful spin-off, MEMS&Co, through a longitudinal case study. The business model benefited from specific revenue/investments streams from clients and was subsequently supplemented by new business models in novel applications. Open innovation offered a unique outside-in process from universities, suppliers, and research centres and then transformed into an advanced new process. Knowledge management focused on cross-Technical knowledge modularity and subsequently on knowledge recombination
Excessive use of online video streaming services: Impact of recommender system use, psychological factors, and motives
No full textInternational audienceWith the growing relevance of the Internet as a tool for communication and entertainment, researchers have examined the effects of individual's psychological factors and media use motives on their excessive use of Internet. Since Internet use has significant nuances, the excessive use of particular Internet application, such as social network services and online games, has been studied separately. However, as the major Internet application, online video streaming service has not been investigated. Moreover, other than psychological factors and media use motives, the IT features implemented in the application, such as the recommender system, could also induce excessive use behavior. This paper aims to examine individual's excessive use of online video streaming services and the effects of recommender system in such services. A survey of 490 video streaming service users was conducted. The results show that the use of recommendations, along with lack of self-control, lack of self-esteem and use motive of information seeking, lead to excessive usage of video streaming services. This study contributes to the literature of excessive Internet use by exploring individual's excessive use behavior in video streaming services and incorporating the salient role of recommender system in Internet applications
Risk transmitters and receivers in global currency markets
No full textInternational audienceWe implement a robust multi-scenario cross-quantilogram network approach to examine the strength and direction of interdependencies and spillover transmission among 25 developed, emerging, Middle Eastern and North African (MENA) FX markets. We find evidence of statistically significant risk transmission and reception between numerous FX rates that varies under different market states i.e., bearish, normal and bullish. The currencies of develop markets act mainly as spillover transmitter, while those with lower currency values are spillover receivers. Implications of the results are discussed
Impact of Information Technology Infrastructure Flexibility on Mergers and Acquisitions
No full textInternational audienceAlthough mergers and acquisitions (M&A) are a common strategy to reduce costs and pursue growth, the variance in returns from M&A is very high. This research examines how information technology (IT) infrastructure flexibility affects M&A. We use a combination of secondary as well as matched-pair survey data from 100 mid-size firms in Spain to investigate this relationship. The empirical analysis suggests that IT infrastructure flexibility affects M&A through two key pathways: a flexible IT infrastructure facilitates the development of business flexibility that provides the responsiveness to seize M&A opportunities and make acquisitions, and a flexible IT infrastructure facilitates the development of post-M&A IT integration capability that provides the control to integrate the IT and business resources of the acquired firm and realize the economic benefits from M&A
Gulf Cooperation Council Cross-Border M&A: Institutional Determinants of Target Nation Selection
No full textInternational audienceWe provide a first formal study of target nation selection by Gulf Cooperation Council (GCC) firms in the Persian Gulf seeking to internationalize. We initially show the economic drivers behind target nation selection and then demonstrate the additional influence of a target nation’s formal and informal institutions. Effective formal institutions (good governance) and close informal institutions (cultural similarity) in a target nation are preferred. We further examine interactions between formal and informal institutions to demonstrate that these institutional influences act as substitutes to each other in determining the attractiveness of potential target nation when we consider a generalized culture measure, but as complements when we consider a GCC-specific cultural measure. This research therefore provides a starting point for understanding the myriad of drivers involved in the rapidly growing pattern of GCC firms seeking to expand by acquiring overseas
How information technology influences opportunity exploration and exploitation firm’s capabilities
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Who do you care about? Scientists’ personality traits and perceived impact on beneficiaries
No full textInternational audienceWe investigate the roots of scientists' perceptions of the impact of their work by examining stable psychological characteristics such as personality traits. An analysis of personality traits highlights the effects of policies related to gender equality, allocation of research time and skills acquisition. It improves our understanding of the conflicts related to scientists’ perceptions of the impact of their research on beneficiaries. For example, conscientiousness increases the perceived impact on clinical beneficiaries, but reduces the perceived impact on industrial beneficiaries. Organizational scientific freedom increases the effects of personality traits on perceived impact on beneficiaries such that scientists affiliated to a university are less likely than colleagues working in other research settings to perceive the simultaneous impact of their work on both industrial and clinical beneficiaries
A media symbolism perspective on the choice of social sharing technologies
No full textInternational audienceThe emergence of social sharing technologies, including blogs, microblogs, personal social networking sites, social bookmarking, and forums, has diversified the media through which information content can be shared. This study anchors on the concept of media symbolism to theorize about social sharing technologies. Our theorization is validated through a set of social sharing data, containing focus group interviews and more than 1 million observations on the content sharing behavior of online users. The results indicate that individuals prefer microblogs and social bookmarking, which are more open to accessing shared content from third-party sources, to share commercial contents