Training evaluation based on cases of Taiwanese benchmarked high‐tech companies

Although the influence of workplace practices and employees’ experiences with training effectiveness has received considerable attention, less is known of the influence of workplace practices on training evaluation methods. The purposes of this study were to: (1) explore and understand the training evaluation methods used by seven Taiwanese companies benchmarked for their excellence; and (2) compare Kirkpatrick’s and Swanson’s training evaluation models with practices used by the benchmarked Taiwanese organizations from a cross‐cultural perspective. Five themes emerged from in‐depth interviews, extending our understanding of training evaluation in the benchmarked Taiwanese organizations.     

Dancing as fast as they can: Israeli high‐tech firms and the Great Recession of 2008

This article shows that the Israeli economy weathered the Great Recession of 2008 rather well. Macroeconomic data show that Israel, with international trade that is highly dependent upon small, high‐tech multinationals, increased its outgoing foreign direct investment (FDI), outgoing greenfield investments, and exports during 2008 and attained good results compared to the European Union and the United States. The explanation offered is based on the predominance of high‐tech, born global companies and small high‐tech multinationals in Israel. Business strategies based on (1) size and flexibility, (2) focusing and tailoring, and (3) innovativeness and globalization allowed many of Israel's small, high‐tech multinationals to continue growing and attain their goals despite the Great Recession of 2008. Five case studies are presented to exemplify this argument. The continuing success of the high‐tech sector and its contribution to Israel's economy explains, among other things, why Israel was relatively unaffected by the crisis. © 2011 Wiley Periodicals, Inc.     

Keeping up with the neighbors: The role of cluster identity in internationalization

This paper explores the implications of the collective identity of a regional cluster on firms’ internationalization. Prior research has established the value of cluster “insidership” through access to knowledge and resources. Through a longitudinal study, we find that cluster identity, through distinct identity claims, provides imperatives and shapes the motivation of firms to internationalize. These imperatives, we argue, stem from cluster identity seen as defined features of regional collectives, extending reference theory to encompass the role of social cues from similar firms located geographically close. The imperatives are particularly salient in the early stages of firms’ internationalization, adding the role of cluster identity to explain the differences between inexperienced and experienced firms in internationalization.     

The synergistic effects of maltodextrin and high‐fructose corn sweetener 90 in a fat‐reduced muffin

Low‐fat muffins were prepared using as fat substitutes a combination of maltodextrin and high‐fructose corn sweetener 90 (HFCS‐90), which replaced sucrose at a rate of 25%, 50%, 75% and 100%. The focus of the investigation was to determine the synergistic effects of these two ingredients on the physical properties in a low‐fat muffin. Results indicated that maltodextrin and HFCS‐90 were effective in maintaining moisture and water activity (a_w) levels similar (P > 0.05) to the full‐fat muffin. Texture profiles indicated that the low‐fat variations were firmer (P < 0.05) than the full‐fat counterpart. Increased levels of HFCS‐90 had a significant effect (P < 0.05) on crust and crumb darkening. Maltodextrin alone significantly (P < 0.05) impeded the staling rate during storage. However, when maltodextrin was combined with increased levels of HFCS‐90, the staling rate accelerated. The two ingredients were found to be effective in maintaining product quality, but HFCS‐90 could only be used up to a 50% replacement before any adverse effects in product quality were observed.     

Evaluation of a maltodextrin gel as a partial replacement for fat in a high‐ratio white‐layer cake

The performance of maltodextrin gel as a replacement (25%, 50%, 75% and 100%) for shortening along with sucrose and high fructose corn syrup‐90 (HFCS‐90), adjusted for sweetness in each treatment, was evaluated in a high‐ratio white‐layer cake formulation. Two controls were used as a reference to fat‐replaced cakes: control A (100% fat and 100% sucrose) and control B (100% fat with 50% sucrose/50% HFCS‐90), which closely matched the sugar system of the fat‐replaced cakes. Volume of cakes showed that treatment F (100% fat‐substituted) was significantly (P < 0.05) different from the other treatments. Crust and crumb L‐ and b‐values indicated that control B produced a dark crust (P < 0.05) with a light crumb (P < 0.05) whereas treatment E (75% fat substituted) produced a light crust (P < 0.05) and treatment F a darker crumb (P < 0.05) with a significantly (P < 0.05) higher moisture content. Degree of staling significantly (P < 0.05) increased over time for all treatments. Sensory results indicated that treatment F produced a significantly (P < 0.05) moister, less adhesive and cohesive cake. Tenderness and sweetness scores indicated that treatments E and F were significantly (P < 0.05) tougher and less sweet, respectively, when compared with the other treatments. Results from both the physical and sensory analyses indicated that the combination of maltodextrin gel up to a 75% reduction for shortening and sucrose/HFCS‐90 resulted in satisfactory cakes.     

Initial internationalization of Chinese privately owned enterprises—the take‐off process

In the first quarter of 2010, China showed the highest quarterly growth (12%) of any country ever. Although privately owned enterprises (POEs) are an important factor behind this immense growth, knowledge about how they have become key exporters is scarce and largely overlooked, especially regarding how they started to go abroad. Two major take‐off processes from the domestic market to the foreign market are studied. The critical importance of the development of the local emerging market behind the possibilities of taking off is stressed, as well as how firms change between indirect and direct export modes. The research is based on an abductive case study research approach, where primary data is collected through interviews in the Yangtze River region. The case study involves six privately owned family firms run by strong and dominating entrepreneurs. Major empirical and theoretical conclusions, including nine propositions, summarize the article and indicate areas for further research. © 2012 Wiley Periodicals, Inc.     

Objective measures as a predictor of late payments by high‐risk borrowers

Manufactured homes (also known outside the US as prefabricated homes) are a viable housing option for low‐income buyers, but traditional mortgages are not available for purchase of manufactured homes because of a perception of higher risk of default among purchasers of manufactured homes. Research suggests that creditscoring models which incorporate objective data such as income, debt‐to‐income ratio and credit history result in an accurate and objective predictive tool to estimate likelihood of late payments and default among traditional home buyers. This study showed that these same models can be applied similarly to purchasers of manufactured homes. A Tobit model was developed to evaluate which factors most accurately predict default and late payment behaviour among borrowers who purchased a manufactured home. The model showed that when decomposed into the probability of making a late payment and number of late payments, credit score and income are both significant predictors in both sets of borrowers of both the probability of making a late payment and the number of late payments. The higher the credit score, the less likely the borrower is to make a late payment.     

Need for speed: Hard information processing in a high‐frequency world

I study the role of high‐frequency traders (HFTs) and non‐high‐frequency traders (nHFTs) in transmitting hard price information from the futures market to the stock market using an index arbitrage strategy. Using intraday transaction data with HFT identification, I find that HFTs process hard information faster and trade on it more aggressively than nHFTs. In terms of liquidity supply, HFTs are better at avoiding adverse selection than nHFTs. Consequently, HFTs enhance the linkage between the futures and stock markets, and significantly contribute to information efficiency in the stock market by reducing the delay between the stock and the futures markets.     

Creating a high‐skills society during recession: issues for policy makers

The present study looks at the skill formation policies adopted by policy makers in Greece in order to create a high‐skills society. It examines empirically the demand side of the skill creation process within 300 small enterprises in order to understand how far supply‐side measures have influenced the demand for well‐trained staff within small businesses. The article draws on empirical data from 650 interviews with workers and small firm owners that explored owner demand for higher level skills and training. The study questions the effectiveness of the measures put forward by policy makers in order to encourage an up‐skilling strategy in the country. The analysis reveals that this policy agenda has been supported predominantly by various skills supply‐side initiatives including investments in higher education and subsidized accredited company training. Yet the empirical evidence indicates that such initiatives have not so far influenced owner demand for higher level skills and training, suggesting a new agenda for policy intervention may be necessary. The study provides valuable lessons for policy makers across the advanced capitalist world on the development of a high‐skills society.     

Eating fast food: attitudes of high‐school students

Alarmingly consistent recent research shows that industrially produced foods such as fast food contain compounds that add to obesity and high cholesterol among young people. Less physical activity and a higher propensity to eat ready‐made food (in Sweden and internationally) have aggravated the health situation for the young generation. They also have become ‘addicted’ to sugar by the consumption of lemonade and other sweet drinks that are often served in conjunction with fast food. Food consumption patterns are highly cultural, and, once formed in early years, they become difficult to change. The findings of this study, which was based on a small sample of written accounts and transcribed interviews, indicate that high‐school students in Sweden are well aware of the good and bad attributes of fast food, such as: speed, convenience, fat and sugar. Clear differences in attitude were found between male and female students: female students view fast food in a broad food chain context, whereas male students concentrate on fast eating and satiety.     

The internationalization of development policy

It has been evident for some time that the proportion of the public development aid which is distributed through multilateral channels is increasing. The causes of this process are examined in the following article which is based on the author's doctor thesis.     

Measuring and forecasting S&P 500 index‐futures volatility using high‐frequency data

In the 24‐hr foreign exchange market, Andersen and Bollerslev measure and forecast volatility using intraday returns rather than daily returns. Trading in equity markets only occurs during part of the day, and volatility during nontrading hours may differ from the volatility during trading hours. This paper compares various measures and forecasts of volatility in equity markets. In the absence of overnight trading it is shown that the daily volatility is best measured by the sum of intraday squared 5‐min returns, excluding the overnight return. In the absence of overnight trading, the best daily forecast of volatility is produced by modeling overnight volatility differently from intraday volatility. © 2002 Wiley Periodicals, Inc. Jrl Fut Mark 22:497–518, 2002     

Diversity & internationalization: The case of boards and TMT's

Using a mixed US and European sample where both the board and TMT units are analyzed at the same time, we test the variables age, tenure and functional background.We extend the information/decision making perspective (Williams & O’Reilly, 1998) to both TMTs and boards by analyzing them as separate but related entities. In line with our hypotheses we find a positive effect on internationalization for functional background diversity of both boards and TMTs.Contrary to our expectations longer TMT tenure and younger board age also have a positive effect on internationalization.     

The internationalization process of Born Globals: a network view

This paper attempts to make a contribution to the theory of development of the internationalization process of Born Globals. We propose that models emphasizing knowledge and networks are suitable for this purpose. The findings show that Born Globals possess international market knowledge before their first foreign market entry. The selection of foreign market entry mode is based on their existing knowledge and the knowledge supplied by their network ties.     

The internationalization of engineering consulting from a strategy tripod perspective

This research investigates the internationalization of engineering consulting firms. The study draws on the elements of the strategy tripod (industry factors, resources and capabilities, and institutional factors). The internationalization process is examined using a longitudinal single case study of a New Zealand-based engineering consulting firm with 40 years of international experience. The research identifies five phases through which the case firm passed during that period, and highlights the different strategies that were apparent. It is shown that individual actors lead to an adjustment of the modes of operation and overall play a significant role for the internationalization of engineering consulting firms.     

中国会计准则国际化研究

本文通过分析新会计准则中的国际化元素,并在对中国会计准则与国际会计准则差异进行比较的基础上,就进一步加快中国会计准则的国际化进程提出对策.     

The internationalization of emerging stock markets

Stock markets in developing countries today account for about 7 per cent of world equity market capitalization, and this share is rising rapidly. Foreign investors have in the past often faced restrictive barriers to access to these emerging markets. A growing number of developing countries have now started to dismantle these barriers, however, resulting in an increasing interest by international portfolio managers in these emerging stock markets.     

The internationalization of energy supply structures

The World Energy Conference will be held in Munich in mid-September. It will have to deal with diverse and complex problems of energy policy, for the seventies have presented tremendous challenges in the energy field. The control over oil—with 46% of the world supply still by far the most important source of energy—has been reorganized and two oil crises have exposed the flow of supplies to severe disruption and political hazards. As far as can be foreseen, the supply is unlikely to keep abreast of the world-wide rise of energy consumption. To replace the oil gradually will therefore be the major task in the energy field in the coming decades. What will be the supply position between now and the year 2000? And which structural changes will have to be effected?