Innovation orientation and long-term performance: The mediating role of market perception capability

This paper examines the relationship between the orientation towards innovation of SMEs and long-term performance, considering market perception capability as a mediating variable. This research topic is important because it can provide a better understanding of the relationship between innovation orientation and performance, since most of the previous papers that have analyzed this relationship have done so from a short-term perspective. But the effect of innovation orientation on performance may not be immediate and short-term, but long-term, and may be influenced by the company’s ability to develop marketing capabilities. A sample of 77 independent hotels is taken for empirical contrast and a system of structural equations is modelled using the Partial Least Squares (PLS) technique. The results show that the company’s capacity to understand the market in which it operates functions as a mechanism that intervenes in the relationship between innovation orientation and long-term result, with a mediating effect that explains the positive effect of innovation orientation on the long-term results.

     

Nonlinear adjustment of the real exchange rate towards its equilibrium value: A panel smooth transition error correction modelling

We study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (BEER) using a Panel Smooth Transition Regression model framework. We show that the real exchange rate convergence process in the long-run is characterized by nonlinearities for emerging economies, whereas industrialized countries exhibit a linear pattern. Moreover, there exists an asymmetric behavior of the real exchange rate when facing an over- or an undervaluation of the domestic currency. Finally, our results suggest that the real exchange rate may be unable to unwind alone global imbalances.     

Luxury Brand Development

Literaturhinweise

Luxury Brand Development     

Input–output evidence on the relative price effects of total productivity shift

This paper provides empirical evidence on the relative price effects of a notional shift in total productivity using data from ten Symmetric Input–Output Tables of five European economies. The results suggest that the direction of the price-movements is, more often than not, governed by the (traditional) labour cost condition and this could be connected to the effective ranks of the matrices of the relative shares of the capital goods.     

Opportunity motivation and SME internationalisation in emerging countries: Evidence from entrepreneurs’ perception of institutions

Institutional studies based on cross-country comparisons and founded on a determinist perspective analyse the behaviour in emerging economies. The current research, in contrast, looks to neo-institutionalism and the literature on entrepreneurship to pose two research questions based on individuals’ discretion: (1) How does the entrepreneur’s perception of the institutional dimensions influence their decision to involve their SME in international operations? (2) What role does opportunity motivation play in the impact of those perceptions on the internationalisation decision? We analyse a sample of 296 entrepreneurs who had founded their businesses in Brazil (Federal State of Sergipe), and our results confirm that the individual’s perception of the normative and regulative aspects of institutions, the interaction between the two, and the interaction between the normative and cognitive aspects of institutions, explain the decision to embark on international operations. Opportunity motivation mediates the impact of the normative aspects of institutions on that decision.     

Swiss made vs. Made in Germany — Kaufentscheidung nach Herkunftsland

Zusammenfassung  Angesichts des überangebots an Informationen zu einem Produkt oder einer Dienstleistung orientieren sich Verbraucher bei einer Kaufentscheidung h?ufig am Herkunftsland des jeweiligen Produktes. Dieses auch als Country-of-Origin-Effekt bekannte Ph?nomen wird in diesem Beitrag anhand der weltweiten Wahrnehmung schweizerischer und deutscher Produkte vorgestellt. Aus Sicht der Unternehmen und insbesondere des Marketingmanagements stellt sich die Frage, ob und unter welchen Bedingungen eine konsequente Vermarktung und Betonung des Herkunftslandes der eigenen Produkte erfolgversprechend sind. Prof. Dr. Sven Reinecke Direktor am Institut für Marketing an der Universit?t St. Gallen (HSG) under Leiter des Kompetenzzentrums „Marketing Performance Management“ sowie Mitherausgeber der Marketing Review St. Gallen. Dr. Stephan Feige Gesch?ftsführender Partner bei der htpSt. Gallen Managementberatung AG, einem Spin-Off der Universit?t St. Gallen. Dipl.-Kfm. Peter Mathias Fischer Wissenschaftlicher Mitarbeiter und Doktorand am Kompetenzzentrum Marketing Performance Management” des Instituts für Marketing der Universit?t St. Gallen.     

Determinants of information systems outsourcing in hotels from the resource‐based view: an empirical study

The objective of this study is to determine the factors affecting outsourcing of information system/information technology (IS/IT) activities in hotels from the resource‐based view of the firm. The factors considered are the conditions that the systems area resources must meet for that area to have a competitive value. The reasons, which are both strategic and tactical, are discussed. The former are mainly related to quality, improvement of service and concentration on core activities, whereas the latter are tactical or cost‐related reasons justifying the selection of the outsourcing strategy for this activity. The results indicate the factors determining IS/IT activity outsourcing are related to the creation of valuable resources and to market transaction costs, and the IS/IT area performance does not influence the decision to outsource. It is also shown that the reasons justifying outsourcing are strategic; related to the core competencies and quality of service and not to cost reduction. Copyright © 2005 John Wiley & Sons, Ltd.