Exchange rate management in emerging markets: Intervention via an electronic limit order book

This paper describes and analyzes the implementation of a crawling exchange rate band on an electronic trading platform. The placement of limit orders at the central bank's target rate serves as a credible policy statement that may coordinate beliefs of market participants. We find for our sample that intervention increases exchange rate volatility (and spread) for the next minutes but that intervention days show a lower degree of volatility (and spread) than non-intervention days. We also show for intraday data that the price impact of interbank order flow is smaller on intervention days than on non-intervention days. These stabilizing effects, however, rely on the conditions of large currency reserves and the existence of capital controls; an electronic market seems to support this goal.     

Global supply network embeddedness and power: An analysis of international joint venture formations

As a subset of the international business literature, cross-border equity based partnerships have drawn significant academic attention. In the context of inter-firm partnerships, the power dynamics between parties and the implications that power has on the relational dynamics between firms is an important consideration. Research that connects power with network theory has recently emerged, suggesting that the network, as a source of power, plays a significant role in inter-firm dynamics. Yet, while there has been a substantial body of work either articulating the antecedents and consequences of power, little research has paid attention to the role that power plays in international JV formations; this presents a significant gap in the international business literature. Consequently, this study investigates the role that global network structure plays in the formation of new equity based international partnerships. Secondly, it contributes to the international JV literature by developing and testing a theoretical framework that examines inter-firm power dynamics as derived from the network position of each firm in the global network. Global network prominence, brokerage and weakness are key factors utilized in the analysis. The hypotheses are tested using a global manufacturing joint venture longitudinal dataset that contains 985,689 observations from 1985 to 2003. The results of the event history analysis indicate that for the manufacturer global network prominence, brokerage and weakness play an important role in new joint venture formations. On the other hand, only global network prominence is a significant factor for the potential partner.     

Inter-firm R&D networks in the global software industry: An overview of major trends and patterns

This paper presents an analysis of some major historical trends in inter-firm R&D partnering in the international software industry during the period 1970–1999. Our research demonstrates an overall growth pattern of newly made R&D partnerships and reveals the important role played by leading firms. We also examine the emergence of various R&D networks in the software industry, indicating the change from sparse and disconnected inter-firm R&D networks to dense and well-connected networks since the second half of the 1980s.     

Cultural orientations and environmental sustainability in households: A comparative analysis of Hispanics and non‐Hispanic Whites in the United States

This article explores the effect of cultural orientations on the sustainable household behaviours of Hispanic immigrants and non‐Hispanic Whites in the United States. A model is tested in which the personal‐level cultural orientations of interdependence‐independence determine consumers' environmental value and concern, which in turn, affect sustainable behaviours (recycling, water, electricity and energy conservation). Results from a sample of 338 Hispanic immigrants and 249 non‐Hispanic Whites indicate that interdependence predicts environmental values among non‐Hispanic Whites. For the Hispanic sample, neither interdependence nor independence predict environmental value. In both samples, environmental value is positively associated with environmental concern, which is positively related to sustainable behaviours. The relationships between environmental concern and all four behaviours are relatively weaker among Hispanics compared to non‐Hispanic Whites, suggesting that immigrants have not yet fully embraced mainstream American pro‐environmental ideals and practices. Our study sheds light on cultural differences regarding environmental values and concerns, and implies theoretical and practical recommendations for marketers in the United States.     

Green cooperation in last-mile logistics and consumer loyalty: An empirical analysis of a theoretical framework

Based on the contingency, transaction, and trust theories, this paper explored how the green cooperation between supplier and customer in last-mile logistics contributes to consumers’ sustainable consumption behaviors and trust and transaction cost's contingency role. We collected survey data from 453 users of green shopping platforms in South Korea (e.g., Homepick and Smart Locker) and analyzed the data using structural equation modeling. The results suggest that green cooperation with companies positively affects consumers’ sustainable consumption behaviors and trust, and transaction costs negatively moderate such relationships. In addition, customer trust positively affects sustainable consumption behavior and loyalty. We also found that improved sustainable consumption behavior can form loyalty, but transaction cost decreases its positive impact. This paper evaluates the last-mile delivery through green cooperation and enriches the literature on contingency, transaction cost, and trust theories.     

浅谈中青年科普作品的亲和力与感召力：以科普栏目《学姐来了》的质性数据分析为例

以170篇《学姐来了》文章为样本,探讨中青年科普作品的特点,考察其内容亲和力和感召力,重点分析科学精神和科学家精神的传播情况。利用质性数据分析方法,对科普内容作高频词分析、内容分类和交叉分析等。研究发现,《学姐来了》科普作品的主要特征是,围绕孩子、健康养生等科学话题,通过良好的衔接、幽默的用语方式,将理性逻辑和求真批判的科学精神与协同、育人等科学家精神传播给中青年群体;样本内容的亲和力主要通过语言的衔接性和幽默来实现;样本中体现科学精神的内容多于体现科学家精神的内容,二者的出现具有正相关性;随着时间的变化,样本的亲和力波动幅度很小,而感召力的波动较大。因此,科普内容应适当增强“爱国”“奉献”等体现科学家精神的感召力;中青年群体科普的“二重性”和可能存在的科普需求年龄后移趋势值得进一步研究。     

Understanding effects of co-creation on cognitive,affective and behavioral evaluations in service recovery: An ethnocultural analysis

While cognitive, affective and behavioral consequences of service recovery have been extensively explored in the literature, the role of co-creation is mostly neglected. Most efforts dedicated to investigating co-recovery are limited to cognitive and behavioral factors. Furthermore, most of the recent studies explored co-recovery on western and eastern cultures, ignoring the role of ethnics in countries with different sub-cultures. This study aims to discover all possible factors on service recovery procedure, focusing specifically on effects of co-creation. Thus, a 2(distributive justice: high/low)×2 (interactional justice: high/low)×2(procedural justice: high/low)×2(co-creation: yes/no)×2(ethnics Azerbaijani vs. Baluch) between-subjects factorial design experiment was performed. A sample of 977 Iranian mobile banking customers participated in the study. Results of Structural Equation Modeling (SEM) indicate that most cognitive, affective and behavioral factors were supported by predictors. In addition, Multi-group SEM reveal that co-creation increases effects of most positive nature variables except negative emotions which is conceptualized as negative nature factor. The results of cultural differences indicate that Azeri people are more intended to participate in co-creation programs, whereas Balochs are more loyal due to higher level of reuse intentions.     

An analysis of social media marketing strategy and performance in the context of fashion brands: The case of Taiwan

This study examines the social media strategy and performance of fashion brands. Drawing upon the resource-based view, the study explores the influence of entrepreneurial orientation, innovation orientation, and market orientation on social media strategy and performance. Analysis was conducted using data on 207 Taiwanese fashion brands. These data were collected from a mail survey. Structural equation modeling and fuzzy-set qualitative comparative analysis were used to test the empirical relationships proposed in the research hypotheses. The results indicate that social media strategy affects performance; entrepreneurial orientation and innovation orientation affect social media strategy; entrepreneurial orientation positively affects performance; and innovation orientation and market orientation positively affect performance.     

A comparative analysis of location and non-location-bounded strategic asset seeking in emerging and developed market MNEs: An application of new internalization theory

Do emerging market (E)MNEs have a stronger strategic asset seeking FDI orientation than developed market (D)MNEs? If so, what are the properties of the strategic assets they actually seek and are they similar or dissimilar to those of DMNEs? Drawing from new internalization theory, we show that lying concealed within some mainstream EMNE models are important predictions regarding differences in the location-boundedness properties of the strategic assets sought by EMNEs compared with DMNEs. Using multinomial logit modelling on 2414 international M&A deals, we explore how acquirer characteristics shape location-bounded (trademark) and non-location bounded (patent) strategic asset seeking choices. In general, we find evidence that EMNEs have a comparatively stronger patent but weaker trademark seeking orientation than DMNEs. We discuss implications for EMNE related theory, focusing on the qualitative differences in asset seeking orientation between EMNEs and DMNEs.     

I do not own a car any more: An analysis of possessions’ disposal and changes in consumers’ identities

This research aims to understand the process of cars' disposal, its context, its influences and its impacts on the meanings for consumers and their identities, as well as the new behaviours of these consumers when living without their car(s). We conducted, analysed and interpreted 20 in‐depth interviews with consumers that had previously owned at least one car and had no financial reasons for disposing of their car(s), but had decided to do it, and started to live without them, adopting alternative methods of transportation. Our findings show that these consumers faced a complicated process regarding the disposal of their car(s) but, due to the changes in their circumstances, they re‐signified relevant concepts that were connected to the ownership of a car: Their perception of freedom, comfort, safety and status changed during and after the disposal of their car(s). We also noticed that there were implications in terms of changes in their attitudes and behaviour as both citizens and consumers. As a contribution to the literature, our findings indicate that the re‐signifying of concepts related to possession of the object as well as changes in attitudes and behaviours that consumers undergo in the postdisposal stage, must be included in the model proposed for evaluating consumer behaviour in product disposal.     

The contingent influence of organizational capabilities on proactive environmental strategy in the service sector: An analysis of North American and European ski resorts

Our study of 134 North American and European ski resorts examines the influence of externally focused organizational capabilities on the generation of proactive environmental strategies under contingent effects of uncertainty in the general business environment. We find that the capabilities of strategic proactivity and continuous innovation are associated with proactive environmental strategies. Managerial perceptions of uncertainty in the general business environment moderate the deployment of the capability of continuous innovation at all levels of uncertainty and stakeholder engagement at low and average levels of uncertainty. The study contributes to the resource‐based view (RBV) by illuminating an important contingency under which capabilities are likely to be deployed to generate a proactive corporate strategy. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd.     

H‐1B and L‐1 visa‐sponsored guest workers in the USA: An analysis of the strategic impact of Indian and other firms

Organizational sponsors of guest workers to the United States claim foreign‐born workers enhance productivity and innovation. Drawing upon a unique dataset of all organizational sponsors of guest workers in the United States from 1993 to 2008, we find a 10% increase in guest worker sponsorship is associated with a 2.2–3.1% increase in patenting within firms. Furthermore, we examine how organizational industry and country of origin are associated with the effects of guest worker sponsorship on organization‐level measures of innovation and productivity. Despite an overall within‐firm positive association between sponsorship and patenting, higher percentages of a firm's workers on visas are associated with lower patenting, but higher labor productivity. Firm‐level industry and country of origin heterogeneity is significantly related to the relationship between guest work sponsorship and both patent‐related and nonpatent investment in innovation such as research and development (R&D) expenditures. Semiconductor firms and universities spend more on R&D in conjunction with guest worker sponsorship, while semiconductor companies and hardware companies patent less. We discuss theoretical and human resource implications, and offer suggestions for future research.     

The role of ethical problems related to a brand in the purchasing decision process: An analysis of the moderating effect of complexity of purchase and mediation of perceived social risk

The objective of this article is to identify the effect of the perception of a brand's ethical problems on consumer behavior. The research contemplates two experimental studies, in which different brands were used in different product categories. Based on the results of the experiments, we verified the moderating effect of the perceived purchase complexity and the mediating effect of perceived social risk in the relationship between the perception of ethical problems related to a brand and the declared purchase intention, both by university students and by real consumers. Through the analysis of means differences and conditional models analyzed with PROCESS (Hayes, 2012), we identified that the perception of ethical problems related to a brand affects consumer confidence and, in some cases, the perception of product quality. In addition, we find that for products with low purchasing complexity, the effect of ethical problems is mitigated both in relation to the purchase intention and in the formation of the perception of social risk linked to consumption.