The moderating effects of supplier portfolio characteristics on the competitive performance impacts of supplier-facing process capabilities

We draw on the interorganizational relationship management literature to examine how contextual characteristics of the supplier portfolio (portfolio concentration, relationship length, and supplier substitutability) moderate the impacts of process alignment and partnering flexibility – two of a firm's key supplier-facing process capabilities to manage supplier relationships – on a product line's competitive performance. Our analysis of survey data on a firm's supplier portfolio for a major product line indicates that the impacts of process alignment and partnering flexibility on competitive performance are moderated by the three supplier portfolio characteristics. Specifically, while concentrated relationship portfolios, long-term relationships, and supplier substitutability amplify the positive effect of process alignment on competitive performance, concentrated relationship portfolios and long-term relationships attenuate the competitive benefits that firms derive from partnering flexibility. While long-term relationships and concentrated supplier portfolios enhance the competitive benefits of process alignment, operations managers also need to recognize the detrimental effects of these supplier portfolio characteristics on the competitive benefits of partnering flexibility.     

MIPS, QUIPS AND TOPrS: OLD WINE IN NEW BOTTLES

Monthly Income Preferred Stock (MIPS), Quarterly Income Preferred Stock (QUIPS), and Trust Originated Preferred Stock (TOPrS) all carry the title of preferred stock. As in the case of other forms of preferred stock, investors cannot force the issuer into bankruptcy if it fails to make a scheduled dividend payment. Unlike conventional preferred stock, however, the dividend payments on these new securities are deductible by the issuer for tax purposes. Thus MIPS, QUIPS and TOPrS appear to provide issuers with in some respects the ideal security–one that offers the tax advantages of debt without the potential for financial distress and its associated costs. And since the first issue of this kind of security in 1993, nearly 300 corporate issuers have raised a total of close to $30 billion with this novel hybrid security. But if these securities appear new, there is another security–namely, income bonds–that has offered these same advantages for at least the past 100 years. After discussing MIPS, QUIPS, and TOPrS in some detail, and the stock market's reaction issuing companies, the article explores the question: Why are tax-deductible preferreds so popular today when income bonds have been shunned for the past 60 years?     

A NOTE ON THE RELATIONSHIP BETWEEN SYSTEMATIC RISK AND GROWTH IN EARNINGS

This paper provides a simple analytical derivation of the relationship between growth in earnings and systematic risk. Theoretically and empirically it concludes that this relationship is positive.     

A prediction study in perceptual and evaluative mapping

The study tests the ability of MDS model to predict individual preferences for new items introduced into a calibration-type similarities space. Towards this a small scale experiment involving various types of similarities and preference judgments was conducted. The results of the study show that the ideal point model fails to account for subjects' preference rankings of test items. The report discusses the study results and offers directions for future research. The author would like to acknowledge the helpful comments of Professor Paul E. Green in various phases of the project.     

Do female and ethnically diverse executives endure inequity in the CEO position or do they benefit from their minority status? An empirical examination

We present competing hypotheses regarding whether gender and ethnic minority CEOs endure inequities resulting in lower compensation and higher likelihood of job exit or benefit from their valuable, rare, and inimitable minority status, resulting in higher compensation and lower likelihood of job exit. Using a longitudinal sample, we find support for the resource‐based hypothesis regarding compensation that suggests CEOs benefit from their minority status to receive higher compensation than white male CEOs receive. However, we also find mixed support for our hypotheses relating CEO minority status to the likelihood of exit. We find that the effects of minority status on likelihood of exit are significantly different for female and ethnic minority CEOs such that the former relationship is negative while the latter is positive. Copyright © 2014 John Wiley & Sons, Ltd.     

How do green knowledge management and green technology innovation impact corporate environmental performance? Understanding the role of green knowledge acquisition

Increasing regulatory obligations to adapt and execute environmentally friendly operations make it critical for businesses to pursue strategies that can strengthen their competitive edge in the market. Academics and practitioners alike have recently gravitated toward exploring how knowledge acquisition activities might improve business outcomes. To address this growing research interest, this study investigates the critical roles of green knowledge acquisition in enhancing green knowledge management and green technology innovation activities in improving corporate environmental performance, positioning resource commitment as a moderator. The research model has been assessed using structural equation modeling with survey data from 283 Indian manufacturers, demonstrating that green knowledge acquisition significantly impacts green knowledge management and green technology innovation. The statistical findings also show that green technology innovation acts catalyzes the translation of green knowledge management into improved corporate environmental performance. The results demonstrate that resource commitment moderates green knowledge acquisition's interaction with green knowledge management and green technology innovation, providing practical insights enabling managers to focus on planning, allocating, and budgeting resources for effective green practices that can contribute to improving corporate environmental performance.     

On the relationship between financial inclusion and bank performance

This study examines the relationship between various financial inclusion measures and banks' performance across multiple countries with varying institutional, regulatory and income levels. To construct an aggregate bank performance index, we employ principal component analysis, which utilises a set of critical indicators summarised by the CAMEL rating system, including banks' solvency, asset quality, efficiency, profitability and liquidity. Our primary findings indicate that different measures of financial inclusion exhibit varying associations with bank performance. Specifically, there is a trade-off between bank performance and credit deepening, especially in high-income nations. Conversely, in low-income nations, higher financial inclusion, measured by deposits to GDP, number of deposits, and number of borrowers, does not affect bank performance adversely. Banks in low-income nations could achieve significant gains by improving financial access and enhancing regulatory environments.     

Venture capital and private equity investors,governance, and success of IPOs: Evidence from India

In this article, we examine the role of domestic and foreign venture capital and private equity (VCPE) firms in India. We find robust evidence that portfolio firms backed by foreign VCPE firms incorporate effective governance structures after the initial public offering (IPO). Specifically, these firms are associated with smaller, more independent, and gender-diverse boards. Furthermore, our results suggest that foreign VCPE firms continue their association with their portfolio firms in the post-IPO period by nominating directors to the boards. Our results also suggest that portfolio firms backed by foreign VCPE firms are associated with better long-term operating performance and profitability. This positive effect is exacerbated by the presence of independent and female directors. Collectively, our results support the view that good governance practices are key to the long-term success of a business, especially in economies that lack good legal systems, developed financial markets, and alternative investment opportunities and where developing trust between parties in a transaction is crucial.