Why the interactions between state- and private-controlled banks matter in the unsuccessful reforms of the Chinese banking industry

Despite significant reforms of the banking system, the existing market in which Chinese banks operate is reminiscent of a cartel. On the basis of illustrations relying on ‘game theory’, the interactions between the credit allocations of state banks and private-controlled banks are highlighted. The very particular status of public banks creates serious barriers to the convergence of credit allocations towards more transparent and more cautious practices. This work intends to discuss a new model in which, in the existing system, ‘win–win–win’ solutions may still appear under some conditions.     

Key capabilities in knowledge-intensive service business

The purpose of this study is to identify key capabilities in knowledge-intensive service business. Current service research lacks evidence on this topic, since knowledge-intensive services constitute a very heterogeneous group, making the identification of key capabilities challenging. To bridge this gap, a conceptual framework is developed, integrating discussion on knowledge intensity with the classical service features. Empirical data are collected from two case firms with the help of focus groups, theme interviews and a survey. Based on the developed framework and analyzed data, we identify four specific capability categories of knowledge management, service productization, project management, and relationship orchestration.     

The contribution of weather variability to economic sectors

Every day, people make economic decisions based on the weather, affecting sales of companies in a wide range of economic sectors. In many cases, the impact of weather on sales is not constant from one season to the next. Yet, the existing research to estimate the influence of temperature on annual sales has not analysed the relationship per season, resulting in potential washout effects and underestimated weather impacts. Drawing upon French economic sectors for empirical evidence, we break down the analysis of the relationship between weather and monthly sales by season. Our methodology provides the cumulative annual contribution of weather to sales and allows deriving the maximum potential annual impact of adverse weather. With our results, analysts and risk managers can better understand the exposure to abnormal weather and consider the potential benefits of mitigating weather risk using the weather parameters we identify to structure bespoke index-based financial instruments.     

Project portfolio control and portfolio management performance in different contexts

This article investigates the nature and relationship of project portfolio control techniques and portfolio management performance, and how this relationship is moderated by situational idiosyncrasies of internal and external dynamics, industries, governance types, and geographic location. A worldwide questionnaire with 242 responses was used, of which 136 high‐performing responses were filtered out for quantitative analysis of best practices. Three portfolio control factors were identified: portfolio selection, portfolio reporting, and decision‐making style. Two measures for portfolio management performance were identified: achievement of desired portfolio results and achievement of project and program purpose. The results indicate that different portfolio control mechanisms are associated with different performance measures. A contingency model was developed, including moderating effects by contextual variables.     

Management Control of Project Portfolio Uncertainty: A Managerial Role Perspective

This article presents empirical results on different managers’ viewpoints regarding the sources and management of project portfolio uncertainty. As a key result, this study demonstrates the versatility of uncertainties experienced by managers, the limited degree of perceived control over them, the use of an almost complete management control package in managing uncertainties, and the necessity of managers’ cooperation in the skilled use of the management control package when managing uncertainties. In addition, a further research agenda is proposed.     

Value Management in Project Portfolios: Identifying and Assessing Strategic Value

Projects are expected to bring value to their constituents. Value management in project portfolios has centered on the maximization of commercial value and identification of future business prospects. In this study, the goal is increased understanding of the identification and assessment of strategic, non‐commercial value in project portfolios. We map the relevant dimensions of strategic value and supplement previous frameworks with the non‐commercial aspects. Ecological, societal, and learning values have only been studied conceptually and qualitatively in earlier research. We propose future research on these values in quantitative settings and exploring collective sensemaking as part of project portfolio value management.     

European Business Fluctuations in the Austrian Framework

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures. In this respect, we propose to link long-term growth cycles to various short-term interest rate gaps. Are European Business Cycles affected when a fall in the money market rate disrupts agents’ expectations of inflation? Using the hypothesis that individual speculation is motivated by the difference between short-term real interest rates and their natural levels, we argue that Wicksellian interest rate gaps can account for a high proportion of long-term fluctuations in four European countries (Germany, France, Italy, and Spain). We present specific dating methods and filters used in order to distinguish between short-term and long-term growth cycles. The Wicksellian incentives we constructed are then significantly linked to long-term business fluctuations. Under the hypothesis of adaptive expectations of inflation, our results are enhanced.     

Image risks of servitization in collaborative service deliveries

Although servitization is seen as a potential process for reputable goods manufacturers to expand their business, it also involves risks to company image. External partners, such as suppliers and third parties, have played an increasing role in manufacturing firms' service business, but their image effects are poorly understood. This paper discusses the image risks of servitization in manufacturing companies, particularly when they operate collaboratively with third parties. An embedded case study was conducted in two units of a case company in the engineering industry. The results revealed that a good company image plays a key role in customers' selection of service providers, but this image is strongly influenced by third-party performance during service delivery. As a key contribution, this study suggests that third-party image risks are strategic issues that can direct and guide the servitization process at the level of strategy, operations, and company identity.     

Working capital management in the automotive industry: Financial value chain analysis

Financial value chain analysis is used to examine working capital management by cycle times in the value chain of the automotive industry during 2006–2008. The applied method offers a holistic view of the value chain from raw materials to the end customers. The average cash conversion cycle of the value chain of the automotive industry was 67 days. According to the study, the change of cycle times of working capital followed mainly the change of cycle time of inventories. The position of the stages of the value chain measured by the cash conversion cycle did not change substantially from 2006 to 2008.