SME Competitive Strategy and Location Behavior: An Exploratory Study of High-Technology Manufacturing

Forty-four Scottish small and medium-sized high-technology manufacturing firms were surveyed regarding their technology strategies and the impact of regional- and site-specific infrastructure requirements on their location behavior. An empirically derived typology of technology content for high-technology firms was developed via cluster analysis and utilized, together with selected technology and manufacturing strategy variables, to investigate whether significant linkages existed between these variables and firms' related location decisions. Results suggest that location decisions are directly correlated to a firm's competitive strategy and that they should actually be considered a dynamic dimension of strategy rather than a static one-time choice.     

Riskiness of Real Estate Development: A Perspective from Urban Economics and Option Value Theory

In this article, we define a new construct for urban economic and investment analysis, which revisits the conventional wisdom that investment in real estate development is riskier than investment in stabilized property assets. This new construct, referred as a “development asset value index” (DAVI), is a value index for newly developed properties (only) in a given geographical property market. It tracks longitudinal changes in the highest and best use (HBU) value of locations, and it reveals developer and landowner behavior taking advantage of the optionality inherent in land ownership. In particular, the DAVI reflects developers' use of flexibility in the exercise of the call option to (re)develop the property to any legal use and density. We empirically estimate a DAVI for commercial property (i.e., central locations) and compare it with a corresponding traditional transaction‐price‐based property asset price index (PAPI) corrected for depreciation. We believe that the difference primarily reflects the realized value of flexibility in land development. We find that the DAVIs display greater value growth and are smoother over time and less cyclical than their corresponding PAPIs for the same locations. This suggests that developers successfully use flexibility, and that development may be riskier than stabilized property investment due primarily only to leverage effects (construction costs). Practical implications are also discussed.     

Firm Status and Evaluators’ Trust: The Many Ways to Trust a Firm

The decision to trust encompasses evaluation of multiple information cues that are used by evaluators to make inference about the trustee’s qualities and capabilities. The information about the social status of the trustee firm is one of such cues available to evaluators. Yet the relationship between perceived social status of the trustee and the evaluator’s trust remains underexplored. In two experimental studies, we (1) find a non-linear relationship between a firm’s status and the evaluator’s trust, and (2) test theorized mechanisms that can explain this relationship. The paper reveals that firms having low, middle, and high status are not only trusted differently, but are trusted for different reasons: qualities, such as perceived benevolence and integrity, mediate higher trust for middle-status firms, while trust for high-status firms is mediated by ability and integrity. The findings thus suggest that in the assessment of an organization’s trustworthiness, the relative importance of a particular virtue, such as ability, benevolence, or integrity, varies depending on the status position of that organization.     

Following in Partners’ Footsteps: An Uncertainty‐Reduction Perspective on Firms’ Choice of New Markets

In this paper, we develop a new perspective on what determines firms’ choice of new markets for entry. First, drawing on the open‐system theoretical tradition and literature on inter‐organizational networks, we advance and empirically test the proposition that firms tend to enter new markets to which they are connected by partnership ties. We then show that this network influence is filtered through the structure of firms’ network connections to new markets and firms’ experience. Specifically, we find that multiplicity of connections to new markets, as well as the extensiveness of firms’ experience and its relevance to new markets weaken the effect of network ties on firms’ choice of new markets. The results of this study indicate that firms’ choice of new markets for entry is a nuanced process that is affected by the interplay of firms’ collaborative ties, the structure of their network, and firms’ internal capabilities. We test our hypotheses in the empirical context of the U.S. venture capital (VC) industry using panel data over a 23‐year period and find broad support for them.     

Twenty-five years (1992–2016) of the International Business Review: A bibliometric overview

The International Business Review (IBR) is a leading international academic journal in the field of International Business (IB). Such leadership is reflected in the large number of publications that grow year after year and particularly in the large number of citations received from other journals of high academic prestige. The aim of this study is to conduct a bibliometric overview of the leading trends regarding the journal’s publications and citations since its creation in 1992 until 2016. The work identifies the authors, universities, and countries that publish the most in IBR by mainly using the Scopus database though eventually complemented with Web of Science (WoS) Core Collection. It also analyzes the most cited papers and articles of the journal. Besides, the study graphically maps the bibliographic material by using the visualization of similarities (VOS) viewer software. In order to do so, the work uses co-citation analysis, bibliographic coupling, and co-occurrence of author keywords. The results show the prominent European profile of the journal where contributors from European universities and countries are the most productive ones in the journal. Particularly, British and Scandinavian universities obtain the most remarkable results. However, mostly scholars from North America, but also from Oceania and East Asia are increasingly and regularly publishing in the journal. In addition, IBR is very well connected to other leading journals in the field, such as the Journal of International Business Studies (JIBS) and the Journal of World Business (JWB), as well as with other top management journals, thus demonstrating its core position in IB research conducted worldwide.     

Momentum effects in the cryptocurrency market after one-day abnormal returns

Financial Markets and Portfolio Management - This paper examines whether there exists a momentum effect after one-day abnormal returns in the cryptocurrency market. For this purpose, a number of...     

Arenas of Contestation: A Senian Social Justice Perspective on the Nature of Materiality in Impact Measurement

Journal of Business Ethics - Although the importance of measuring and reporting the social and environmental impact of organisational action is increasingly well recognised by both organisations...     

Organizational environmental orientation and employee environmental in‐role behaviors: A cross‐level study

Amid the growth of scholarly research on environmental workplace behaviors, two limitations stand out. First, there has been scant research on the cross‐level effects of organizational‐level determinants on individual employee environmental behaviors using a methodologically appropriate multilevel analytic approach. Second, there has been an overwhelming focus on voluntary, as opposed to task‐related, employee environmentally friendly behaviors. In addressing these limitations, this field study (N = 615 U.S.‐based employees nested in 51 organizations) makes a theoretical and empirical contribution to the literature, specifically by linking the dimensions of organizational‐level environmental orientation with individual‐level employee environmental in‐role (i.e., task‐related) behaviors using multilevel analysis. The results indicate that organizational internal environmental orientation is positively related to employee recycling behavior. Managerial status exerts a moderating effect, such that the positive relationship between internal environmental orientation and energy‐saving behavior is stronger among managers than among non‐managers. Furthermore, an organization's external environmental orientation has an unequivocal positive relationship only with employee energy‐saving behavior. The theoretical and practical implications of the findings are discussed.     

The value components of contract farming in contemporary capitalism

Contract farming (CF) has generally been understood as, essentially, a market institution—by both (approving) “mainstream” and (critical) “radical” perspectives. Analyses of relations of production have, meanwhile, tended towards a problematic “peasantist” frame, where contracts undermine farmer “autonomy” in processes of “flexible” corporate agro‐industrial restructuring. This paper argues that a materialist analysis of CF from within capital–labour relations offers a stronger conceptual foundation for re‐synthesizing questions of market‐power. It first argues that radical notions of “peasant subsumation” conceptually mirror Marx's “formal subsumption of capital” but underplay dynamics of “real subsumption” accompanying capitalism's wider development. Drawing on the “petty commodity production” concept, it then argues that CF's “flexibility” rests in its differential content. CF's fungibility to contradictory movements of “integration” and “dispersion” enables it to emphasize different methods of surplus appropriation under shifting conditions; each corresponding to a different dominant social tendency. On the one hand, conditions of market expansion inspire integration for relative surplus appropriation through raised productivity, and CF tends to act as a “tool of proletarianization” in the wider centralization of capital. On the other, conditions of contraction motivate the dispersal of unvalorized capital, prompting efforts to raise absolute surplus appropriation, and CF tends to act as a “tool of differentiation” to concentrate agricultural capital.     

Fast and slow cancellations and trader behavior

We investigate how short-lived liquidity supply due to order cancellations affects the order-placement behavior of slow traders. When order cancellations increase, slow traders submit fewer and less aggressive orders. Both short- and long-lived liquidity supply have positive effects on the market overall, reducing spreads and increasing depth. We conclude that it is not necessary to require limit orders to have a minimum lifespan. We develop econometric and machine-learning frameworks that allow traders to predict whether a quote is likely to have a short or long life, increasing the ability of slow traders to respond strategically to changing order flow.