The process of internationalization in the operating firm

Two factors have been emphasised as influencing the choice of, and subsequent shifts between, modes of foreign market servicing: (1) market-specific knowledge; and (2) the generalised knowledge from operating internationally. The process-oriented literature on internalisation has tended to emphasise the former over the latter. This article maintains that market-specific knowledge is not the only source of information available to a firm. As firms operate in foreign markets they develop, in addition to networks of institutional arrangements, a knowledge of the process of internationalization. Account therefore has to be taken of the general knowledge from operating internationally in understanding the development of institutional arrangements in foreign markets. Consequently, the appropriate unit of analysis is not the individual market but the operating firm as a whole. This argument is illustrated with reference to an empirical study of the internationalization of 25 UK-based organizations.     

Measuring price discovery between nearby and deferred contracts in storable and nonstorable commodity futures markets

Using price discovery measures, including Putniņš’ (2013) information leadership share and intraday data, we quantify the proportional contribution of nearby and deferred contracts in price discovery in the corn and live cattle futures markets. On average, nearby contracts reflect information more quickly than deferred contracts in the corn market, but have a relatively less dominant role in the live cattle market. In both markets, the nearby contract loses dominance when its relative volume share dips below 50%, which typically occurs when the nearby is close to maturity. Regression results indicate that the share of price discovery is mainly related to trading volume and time to expiration in both markets. In the corn market, price discovery share between nearby and deferred contracts is also related to inverse carrying charges, crop year differences, USDA announcements, market crashes, and commodity index position rolls. Differences between corn and live cattle markets are consistent with differences in the contracts’ liquidity and commodity storability.     

Structure and Culture Change In Two Uk Organisations: A Comparison of Assumptions,Approaches and Outcomes

Christopher Mabey and Geoff Mallory, who are respectively Head of and Research Fellow at the Open University Business School's Centre for Human Resource and Change Management, focus on attempts to modify behaviour and cultivate new competencies through cultural and structural change. They explore these issues, first, theoretically, by reviewing the growing body of relevant literatures and, second, empirically, by analysing two case organisations – the General Motors-Isuzi joint venture, IBC Vehicles Ltd, and Grampian Health Board – which adopted very different approaches. In both cases, they consider what assumptions underpinned the change processes, what human resource strategies policies were pursued, and what outcomes were apparent.     

SPORADIC, FLUID AND CONSTRICTED PROCESSES: THREE TYPES OF STRATEGIC DECISION MAKING IN ORGANIZATIONS[1]

Using 136 cases of strategic decision-making described by a number of variables drawn from the literature, three distinct types of decision-making processes are found. These are termed sporadic, fluid and constricted processes. They are parsimonious characterizations of decision-making processes which, given the variety of the 30 organizations from which the cases are drawn, should be generalizable to a wide range of contexts.     

Cost-effectiveness of a chronic pain intervention for people living with HIV (PLWH)

Background: Chronic pain is a common, disabling, and costly comorbidity, particularly in people living with HIV (PLWH). This study developed and pilot tested a pain self-management intervention for chronic pain tailored to PLWH called Skills TO Manage Pain (STOMP).

Objectives: Given the additional resources needed to deliver STOMP in HIV clinical settings, an important objective of the pilot study was to assess not only STOMP’s preliminary efficacy, but also its cost-effectiveness.

Research design and subjects: The present study draws from a 44-participant, 2-arm randomized pilot trial of the STOMP intervention vs usual care among PLWH and at least moderate chronic pain (Clinicaltrials.gov: NCT02824562). Cost-effectiveness is presented as the incremental cost-effectiveness ratio (ICER). Costs were considered from the clinic perspective over a 1-year time horizon using real costs from the pilot trial. It was conservatively assumed there would be no costs savings. The Standard Gamble (SG) method was used to directly measure utilities.

Results: Thirty-six participants met inclusion criteria for the present analyses. Mean age was 52 years; 61% were female and 86% were black. The total cost of STOMP was $483.83 per person. Using the SG method, the change in QALYs was 0.15, corresponding to an ICER of $3,225.

Conclusions: STOMP’s cost/QALY is substantially lower than the $50,000 to $100,000/QALY benchmark often used to indicate cost-effectiveness. Although based on a pilot trial and, therefore, preliminary, these findings are promising, and suggest the importance of cost analyses in future STOMP trials.     

In the LEED: Racing to the Top in Environmental Self‐Regulation

Does voluntary participation in eco‐certification become more substantive over time, or less? Although past research on voluntary programs suggests that later participants are more likely to greenwash by only symbolically adopting voluntary standards, theories of regulatory competition suggest a possible “race to the top.” We argue that participation in voluntary programs can facilitate competition that enables a race, and we advance a theory of self‐regulatory competition to explain dynamics of participation in voluntary environmental programs. Under this perspective, environmental self‐regulation may facilitate a race to the top, despite possibilities for purely symbolic adoption. Analyzing data from a voluntary green building certification program in the United States, we introduce a methodology to distinguish propensities for symbolic certification from more substantive environmental performance. Data demonstrate that later adopters invest additional resources to attain higher certification, becoming greener and suggesting a race to the top in a voluntary greenbuilding certification program.     

Research note: social leisure engagement,peer support,and depressive symptomology among emerging adults

This research note applied self-determination theory to the study of social leisure and well-being among collegiate emerging adults. Self-determination theory posits that individuals seek out environments that promote basic psychological needs; among these needs is the need for relatedness. We examined the relationship between social leisure engagement (conceptualised as an environment that promotes connections to others) and emerging adults’ depressive symptomology. More specifically, we hypothesised that this need-supportive environment would be related to higher levels of peer support (a form of relatedness) and would promote better mental health. Participants (N = 270) were between the ages of 18 and 25. Using path models, we found that there was a significant negative relationship between social leisure engagement and depressive symptomology. Furthermore, peer support served as a significant linking mechanism between social leisure and depressive symptomology. Results provide evidence for the application of self-determination theory to the study of social leisure engagement as a need-supportive environment that can facilitate relatedness and better mental health among emerging adults.     

The value of genetic information to livestock buyers: a combined revealed,stated preference approach

DNA profile information has begun appearing in purebred bull auction catalogs; however, the value of this information is as of yet unknown. This study uses data from actual bull sales at a test station and combines it with stated‐preference survey data to determine the value of the DNA profile information. Consistent with previous research, we find that expected progeny differences (EPDs), test performance, and ultrasound information significantly influence bull‐buyers’ willingness‐to‐pay. The newer DNA profile information, however, was unrelated to buyers’ preferences. Methodologically, we find statistically significant differences (but highly correlated willingness‐to‐pay values) across the stated and revealed preference data sources.