1,721,007 research outputs found
Propensione delle imprese marchigiane e tunisine allo sviluppo di progetti industriali in partecipazione
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Relational capital in lending relationships. Evidence from European family firms
No full textThe aim of this paper is to investigate the role of family CEOs’ relational capital and non-family CEOs’ managerial skills in the context of bank relationships for a large sample of small- and medium-sized European firms. The results indicate that family firms appointing family managers are significantly more likely to maintain soft-information-based and longer-lasting lending relationships than family firms managed by professionals, and that these closer bank-firm ties reduce the likelihood of experiencing credit restrictions. Moreover, we find that having professional CEOs does not directly affect the probability of being credit rationed. Hence, family relational capital appears to have a univocal beneficial impact on bank-firm relationships
Fostering tourism destination competitiveness in developing countries: The role of sustainability
No full textThis study aims to test if sustainability influences tourism destination competitiveness in developing countries. The case study for the analysis is Brazil, where the enormous and unexploited potential for tourism makes sustainability a central issue in tourism development. Empirical results show that sustainability factors are positively associated with competitiveness indicators used as dependent variables in the regression model, thereby supporting the hypothesis that sustainability plays a key role in fostering tourism destination competitiveness. Tourism growth in developing countries has led to a number of environmental and socioeconomic problems. These results indicate that a new model of cleaner tourism that favorably affects economy, environment, and society is required. Some recommendations are provided based on empirical evidence to enable the developing countries to attain sustainable tourism development
Fortune favors the bold: firms involvement in patent opposition
No full textPatent opposition is a key strategic weapon used in intellectual property (IP) battles. While existing literature primarily focuses on the characteristics of the opposed patents to explain the occurrence of opposition proceedings, the role of firms’ characteristics remains less explored. We argue that a firm’s experience with opposition proceedings reflects its IP capabilities, both in defending its own patent portfolio and in challenging the patents of competitors. Using a dataset of EPO oppositions filed between 1980 and 2015 in the field of cosmetic technologies, we examine whether previous outcomes of opposition proceedings are associated with the likelihood of being involved in future opposition cases. Our findings show that patent holders with a higher rate of past success in opposition proceedings are less likely to be involved in subsequent oppositions. In contrast, (potential) opponents with a higher rate of past success are more likely to engage in future opposition proceedings
Post-crisis firm survival, business model changes, and learning: evidence from the Italian manufacturing industry
Full text linkCompany survival after recessions depends on the entrepreneurial ability of decision makers to react to the crisis and learn how to make the best use of chances. The aim of this paper is to shed light on the relationship between post-crisis firm survival, learning, and firm’s entrepreneurial behavior measured by business model changes. Specifically, we test if firm survival after the 2009 recession has been affected by changes in the business model occurred in the period of recovery between the two recessions (2004–08), and if these changes are the result of deliberate reactions to the 2003 recession—i.e., learning hypothesis. The analysis of 67,241 Italian manufacturing firms suggests that business model changes have affected post-crisis firm survival by lowering the probability of default. However, the adoption of these default-reducing business model changes did not result to be significantly more frequent in firms that performed poorly during the 2003 crisis, thus providing weak support to the role of entrepreneurial learning in reducing defaults
Corruption, formal institutions, and foreign direct investment: The case of OECD countries in Africa
No full textPurpose: Corruption has shown a mixed impact on foreign direct investment (FDI). This study proposed moderating the role of two—foreign aid (international institution) from the home country and democracy (national institution) in the host country—between corruption-FDI nexus. Methodology: The framework is analyzed using panel data analysis (2001–2018) of bilateral foreign aid and FDI from 18 European members of the Organization for Economic Cooperation and Development (OECD) to 34 African countries. Findings: The presents several key findings. First, Africa's level of government corruption harms bilateral FDI from Europe. Second, the OECD's bilateral foreign aid moderates the negative effects of Africa's host-country corruption on FDI. Third, the level of democracy in the host country also moderates the negative impact of corruption on FDI. Finally, foreign aid strongly moderates the negative effect of corruption on FDI in democratic countries compared to non-democratic host countries. Research Implications: This study provides the institutional analysis that bilateral foreign aid and democracy as formal institutions affect the European multinational enterprises's decision to invest in Africa. Practical Implications: It presents the policy and managerial implications. First, European MNEs managers avoid investing in Africa, and governments must take strict actions to attract FDI. Second, foreign aid and democracy motivate MNEs to invest in Africa. Finally, the OECD policymaker could formulate rigorous and relevant conditions for foreign aid to Africa to reduce corruption. Originality/Value: Through the lens of institutional theory and selectorate theory, the novel institutional role of foreign aid and democracy is proposed and tested between the nexus of corruption-FDI
Tourism Destination Competitiveness in Italy: A Stakeholders’ Perspective
No full textThe paper aims to evaluate the competitiveness of one of the world's leading tourism countries from a stakeholders' perspective. A survey questionnaire has been submitted to relevant tourism stakeholders from 370 outstanding Italian destinations. The results show that Italy is more competitive in its natural and cultural resources, but less competitive in tourism policy and planning, and in destination management. The findings also suggest that small destinations, hinterland destinations, and destinations in the under developed southern part of the country have high tourism potential. The research reveals areas where improvements should be made to boost tourism competitiveness in Italy
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