Internationalization processes in stable and unstable market conditions: Towards a model of commitment decisions in dynamic environments

This article proposes a managerial decision framework to deal with internationalization whether in stable or dynamic environments. While displaying the effects of unstable and stable environmental settings on commitment decisions, the framework is the result of an inferential abductive approach that merges the risk management model with empirical data collected from a 32-year longitudinal case study on nine Swedish MNCs. The longitudinal analysis shows that when environmental changes are perceived as detrimental, firms tend to decrease their tangible assets and commit in a more intangible way. On the opposite, when changes to the environment are perceived as beneficial, firms follow an incremental path of commitment, preferably in tangible kind. The findings contribute new knowledge to understand such diversities in commitment decisions as divestment, wait-and-see, market-exit and re-entry.     

MNE performance during a crisis: An evolutionary perspective on the role of dynamic managerial capabilities and industry context

As the likelihood of worldwide crises increases due to globalization and the resulting economic contagion, understanding why some multinational enterprises (MNEs) prevail in such environments becomes ever more critical. Drawing from the concept of dynamic managerial capabilities, we posit that MNE in-crisis performance is associated with the pre-crisis development of asset management capabilities, or the capacity of managers to orchestrate assets so as to extract more value from the firm’s resource pool. Specifically, we argue that because dynamic managerial capabilities evolve as a response to a firm’s task environment, MNEs that operate in dynamic industries develop stronger asset management capabilities. However, we also posit that whether these capabilities contribute to in-crisis performance is contingent upon the munificence of the industry environment in which the capability evolves. Asset management capabilities that evolve in munificent environments would encompass a wider spectrum of routine-altering activities, and thus increase the ability of the MNE to react to more revolutionary events, such as global economic crises. Conversely, asset management capabilities that evolve in resource-scarce environments will result in more strategic lock-in due to firms' constrained ability to experiment with novel resource configurations, resulting in poorer in-crisis performance. We test our hypotheses using a sample of 854 MNEs in the context of the global financial crisis of 2008, and find support for our hypotheses. We discuss implications for the dynamic capabilities view and MNE resilience.     

The institutional work of a social enterprise operating in a subsistence marketplace: Using the business model as a market‐shaping tool

The void between formal and informal institutionalized practices that coexist in subsistence marketplaces can render them inaccessible to subsistence consumer–merchants. We conducted an in‐depth auto‐ethnographic study of Novo Dia Developments, a social enterprise in Maputo, Mozambique, seeking to make the housing market accessible. Our study extends the extant understanding of the transformation of subsistence marketplaces in two ways. First, our study characterizes the institutional work done by a social enterprise to open up a subsistence marketplace. Second, our study theorizes the business models in use as a mechanism through which institutional work can be organized and performed, by (a) transforming an idea for market change into new market offerings and practices that begin to fill the void, (b) materializing and making visible other institutional voids that need to be filled, and (c) serving as a juncture at which formal and informal institutionalized practices can connect.     

On the role and nature of alliance management capability in family business: Empirical evidence from a developing market

Despite the research on alliance management capability (AMC) has evolved in recent years, we still lack a clear understanding of its antecedents and performance outcomes in the context of family businesses, a setting that is inherently different from a typical firm-to-firm corporation. Collecting data from the Libyan family firms sector, we found that alliance experience, family culture (as internal antecedence), and political instability (as external antecedence) are crucial for AMC development, where the latter has a significant effect on the alliance performance of these firms. We also discuss the theoretical and practical implications of our study.     

Nestlé coping with Japanese nationalism: Political risk and the strategy of a foreign multinational enterprise in Japan, 1913–45

This paper focuses on the strategy adopted by the MNE Nestlé in Japan between the establishment of a branch at Yokohama in 1913 and the end of World War II. It highlights the difficulties encountered by the firm in its attempts to open up and operate production facilities due to strong opposition from local condensed milk makers, supported by the state. Eventually, in 1934, Nestlé opened a factory by founding an incorporated company, ARKK, all of whose shareholders were Japanese working for Nestlé. Although the war drastically curtailed the activities of both Nestlé Japan and ARKK, the organisational facilities set up during the inter-war period provided a springboard for Nestlé's post-war success in Japan.     

Reassessing the Costs and Benefits of Imposing Capital Controls: The Case of Chile (1991–98)

ABSTRACT

This paper aims to highlight some of the less-mentioned costs and benefits of imposing capital controls (in particular, on inflows) in lower income countries (LICs). The impact of controls on the effectiveness of conventional policy tools, as well as the limitations of the latter, are studied in the context of Chile's imposition of unremunerated reserve requirements (URRs) in the early 1990s. Then, using better data and a slightly different specification from earlier studies, an error-correction model for Chile's real exchange rate (RER) is set up with a view to assessing controls' impact thereon. The key finding, contrary to earlier studies, is that controls did depreciate the real exchange rate in the short-run. At the same time, an enhanced controls variable (“the effective” tax implied by the reserve requirement, a la Gallego et al., 1999) was seen to possess an inverse relationship with the equilibrium real exchange rate, suggesting the possibility of controls having facilitated an equilibrium RER appreciation in the long-run.

RESUMEN. El propósito de este documento es esclarecer en cierta medida algunos de los costos beneficios mencionados con menor frecuencia, resultantes de la imposición de controles de capital (especialmente sobre los flujos de entrada de capital) en países con menor renta (LICs–lower income countries). El impacto de los controles sobre la efectividad de las herramientas inherentes a las políticas convencionales, así como la limitación de los últimos han sido estudiados en el contexto de la imposición chilena sobre las exigencias establecidas para las reservas no remuneradas (URRs) a comienzo de los años 1990s. En ese entonces, utilizando una fuente de datos más apropiada y especificaciones levemente distintas a las usadas en estudios anteriores, elaboramos un modelo de error-corrección para la tasa real cambiaria chilena (RER–real exchange rate), con el objeto de evaluar el impacto ejercido por los controles. El descubrimiento clave, contrariamente a lo encontrado en los estudios anteriores, muestra una variable de control mejorada (el impuesto “efectivo” inherente a las exigencias de la reserva, a la Gallego et al., 1999), que se observó tenía una relación con el equilibrio de la tasa cambiaria real, sugiriendo por ende que, a largo plazo, existía la posibilidad de que los controles facilitasen una apreciación RER equilibrada.

RESUMO. Este estudo pretende destacar alguns dos custos e benefícios, pouco divulgados, sobre o controle da imposição de capital (particularmente, das entradas) nos países de baixa renda (LICs). O impacto do controle na eficácia dos instrumentos políticos convencionais bem como as limitações destes instrumentos são estudados no contexto da imposição do Chile dos depósitos compulsórios não remunerados (URRs), no início dos anos 90. Então, utilizando dados melhores e uma especificação um pouco diferente de estudos anteriores, um modelo de correção de erros para a taxa de câmbio real do Chile (RER) é estipulada, visando uma avaliação do impacto do controle, a partir deste momento. A descoberta principal, contrária aos primeiros estudos, é que o controle, definitivamente, deprecia a taxa de câmbio real a curto prazo. Ao mesmo tempo, uma variável de controle aumentada (um imposto “efetivo” implícito no depósito compulsório, conforme Gallego et al., 1999) parece conter uma relação contrária à taxa de câmbio real de equilíbrio, sugerindo a pos-sibilidade de que o controle tenha facilitado uma estimativa do equilíbrio da RER a longo prazo.     

数据包络分析（DEA）在县域乡镇人力资源配置评价中的应用—以密云县为例

人力资源是国民经济中极为重要的主体资源,它的配置好坏日益决定着县域经济能否持续健康的发展。利用数据包络分析（DEA）,以北京市密云县为例,进行各乡镇人力资源配置评价和分析,并对结果进行了讨论。     

Industry,Organizational Age,and Size as Predictors of Organizational Values in the Context of a Transition Society: The Case of Estonian Organizations

ABSTRACT

Over the past 20 years, China and India have emerged as the fastest growing economies in the world. In this context, the authors review, examine, and list the factors that have contributed to the emergence of China and India (referred to as Chindia). The authors compare the antecedents, characteristics, and consequences of their emergence in the global market. This article provides insights for the researchers and multinational enterprises from rest of the world to carry out studies on country analysis as well as foreign market entry modes. Besides, we posit theoretical and testable propositions for future research.     

Store of the future: Towards a (re)invention and (re)imagination of physical store space in an omnichannel context

This paper explores the future of the physical store within omnichannel retail and specifically, the prerequisites of the designed retail environment in optimizing customer experience. Adopting an exploratory qualitative approach, primary data was obtained using semi-structured interviews with 20 industry experts.The research makes a valuable contribution to the dearth of extent literature on experiential store spaces of the future, specifically within the fashion field. By connecting three topics of academic research - Omnichannel retail, the role of the physical store and in-store customer experience - it serves to suggest the prerequisites for designed retail environments in optimizing customer experience.     

Marketing in Chinese Small and Medium Enterprises (SMEs): The State of the Art in a Chinese Socialist Economy

This paper adopts the context-embedded approach to examine the marketing practices of 307 small and medium enterprises (SMEs) in the People’’s Republic of China by comparing the survey findings with that of Hong Kong and Guangdong SMEs. Chinese SMEs focus on regional markets to avoid direct competition with Hong Kong SMEs in the international markets and also their Guangdong counterparts in the turbulent nationwide market. To market their own brands, Chinese SMEs have to analyze the market and use superior marketing strategies in the competitive markets. Chinese SMEs do not attain the superior competitive positions as that of their Guangdong counterparts, but they use customer satisfaction surveys and claims investigation to help develop excellence in product performance. Also, Chinese SMEs have to provide value-added products and services and also a well-rounded marketing competitive strategy to gain market shares. The traditional state-owned enterprise structure in China facilitates the development of hierarchical organizational structure and joint decision making process. Thus, care should be taken in assuming that marketing tools and techniques are equally applicable across all places, even in similar cultural contexts. Socio-cultural influences and mediating environmental factors should be considered when attempting to understand the marketing practices of Chinese small firms, specifically when China is in transition to a socialist market economy.     

Faith at Work Scale (FWS): Justification,Development, and Validation of a Measure of Judaeo-Christian Religion in the Workplace

Workplace spirituality research has sidestepped religion by focusing on the function of belief rather than its substance. Although establishing a unified foundation for research, the functional approach cannot shed light on issues of workplace pluralism, individual or institutional faith-work integration, or the institutional roles of religion in economic activity. To remedy this, we revisit definitions of spirituality and argue for the place of a belief-based approach to workplace religion. Additionally, we describe the construction of a 15-item measure of workplace religion informed by Judaism and Christianity – the Faith at Work Scale (FWS). A stratified random sample (n = 234) of managers and professionals assisted in refining the FWS which exhibits a single factor structure (Eigenvalue = 8.88; variance accounted for = 59.22%) that is internally consistent (Cronbach’s α = 0.77) and demonstrates convergent validity with the Faith Maturity Scale (r = 0.81, p > 0.0001). The scale shows lower skew and kurtosis with Mainline and Catholic adherents than with Mormons and Evangelicals. Validation of the scale among Jewish and diverse Christian adherants would extend research in workplace religion.     

后疫情背景下金融机构开展服务科技型中小（微）企业融资的探索与实践：以浙江为例

由于新冠肺炎疫情的持续影响，科技型中小（微）企业面临着资金周转和融资难的困境，财务脆弱性风险较为明显。这其中既有企业内部的原因，也有社会经济环境、市场状况和金融服务等外部环境因素。本文将对后疫情背景下金融机构服务和促进科技型中小（微）企业融资问题进行理论溯源，并以浙江为例，分析金融机构服务科技型中小（微）企业融资实践中面临的难题，并提出建立风险偿债基金、构建多层次信息平台、将人力资本作为授信额度担保的重要依据、聚焦创新创业生态体系建设等对策和建议，以期助力科技型中小（微）企业“转危为机”，推动投融资服务转型升级。