The Internationalization Process of Online SMEs in the U.K., U.S. and Australia

ABSTRACT

Starting from a modified version of the Cavusgil and Zou (1994) Cavusgil, S.T. and Zou, S. 1994. Marketing strategy-performance relationship: An investigation of the empirical link in export market ventures. Journal of Marketing, 58(1): 1–21. [Crossref], [Web of Science ®] , [Google Scholar] theoretical framework, in which the level of internationalization of online Small and Medium Enterprises (SMEs) is considered as an aggregated indicator of the export marketing strategy and a measurement of export performance, this paper investigates the influence of a series of internal and external factors on the internationalization of online SMEs. It expands the empirical framework used by Luo et al. (2005) Luo, Y., Zhao, J.H. and Du, J. 2005. The internationalization speed of e-commerce companies: An empirical analysis. International Marketing Review, 22(6): 693–709. [Crossref], [Web of Science ®] , [Google Scholar] in an attempt to explain the internationalization of online SMEs by integrating both organizational and market factors, thus improving the explanatory power of internationalization models, and enhancing their applicability for professionals.     

Implementing Big Data Analytics in Small Firms: A Situated Human Practice Approach

This study identifies and addresses an important gap in the nascent literature on big data analytics, using a longitudinal case study to investigate the implementation and application of big data analytics into a small firm specialized in transport logistics. Our research is rooted in Practice Theory, considering the implementation of new technologies in organizations as a result of multiple social negotiations, interpretations, and interactions. Our findings indicate the importance and centrality of human factors in decision-making and operational implementation, technology representing only a means to a clearly specified and collectively assumed objective. Big data analytics adoption and use in the case-study firm represents a gradual process, with each stage justified by the need to solve the problems caused by heavy and unpredictable road traffic. This approach validates the entrepreneurial effectuation model, which defines a firm's strategy as a fragmented but continuous effort to find and implement effective solutions to the market challenges encountered.     

E-banking in transition economies: The case of Romania

Internet banking is one of the newest Internet technology applications, which promises multiple benefits both for the financial institutions and for clients. In the last five years a large number of banks have launched websites, offering online banking services. While the implementation and functioning of these digital systems seem to be relatively smooth in the developed economies, the situation may be different in countries with economies in transition. The present paper investigates and analyses the specific conditions of an economy in transition (Romania), and the appropriate strategies for the implementation and use of e-banking services.     

Talk and Action: What Individual Investors Say and What They Do

Combining survey responses and trading records of clients of a German retail broker, this paper examines some of the causes for the apparent failure to buy and hold a well-diversified portfolio. The subjective investor attributes gleaned from the survey help explain the variation in actual portfolio and trading choices. Self-reported risk aversion is the single most important determinant of both portfolio diversification and turnover; other things equal, investors who report being more risk tolerant hold less diversified portfolios and trade more aggressively. Less experienced investors similarly tend to churn poorly diversified portfolios. The effect of perceived knowledge on portfolio choice is less clear cut; holding other attributes constant, investors who think themselves knowledgeable about financial securities indeed hold better diversified portfolios, but those who think themselves more knowledgeable than the average investor churn their portfolios more. We thank Carol Bertaut, Anne Dorn, Larry Glosten, Will Goetzmann, Charles Himmelberg, Wei Jiang, Alexander Ljungqvist, Theo Nijman, Paul Sengmüller, Ralph Walkling, Elke Weber, and participants at the 2003 European Finance Association meetings in Glasgow for their comments.     

SYSTEMATIC LIQUIDITY

Most of the market microstructure literature focuses on the liquidity of individual securities, whereas much of the asset pricing literature examines the association between systematic risk and return. We document the presence of a systematic, time‐varying component of liquidity. At the moment, neither the inventory nor the asymmetric information‐based approach to liquidity explains the systematic, time‐varying component of liquidity. JEL classification: G10, G12