An empirical test of stakeholder influence strategy models: evidence from business downsizing in Taiwan

Frooman's model of stakeholder influence strategies uses levels of resource dependence to determine the power of stakeholder influence. Our study provides initial empirical tests of his model applied in business downsizing. Data from 18 recently downsized firms in Taiwan, including nine multinational corporations (MNCs), were plotted against the Frooman model. We found that resource-dependence alone as Frooman theorized could not explain the influence strategies that stakeholders (in this case the employees) took in response to firms' downsizing decisions. Further investigation revealed that the institutional factors had a significant effect on how firms structured their downsizing initiatives and hence changed the way the employees reacted to firm decisions. We proposed a new model using both resource-dependence and institutional legitimacy as determinants of stakeholder influence strategy and suggested relationships between these determinants and stakeholder actions. This proposed model has profound research implications for the strategic stakeholder theory, as well as practical implications for human resource management.     

The Internationalization Strategy of Spanish Indigenous Franchised Chains: A Resource‐Based View*

In this paper, we identify characteristics of Spanish franchised chains that favor the adoption of an internationalization strategy and those that have a negative influence from a resource‐based perspective. Data used were drawn from Annual Franchise Guidebooks published in Spain for 2005. Various independent variables were taken into account and the final sample included 316 Spanish franchised chains. In order to detect relevant differences between chains with some degree of internationalization and those that only operate in the Spanish domestic market, we conducted a discriminant analysis to discover which of the independent variables contributed significantly to a correct classification of chains to their corresponding group (those that have chosen to spread activities abroad and those that have not).     

The economic and organizational aspects of telecentres: the Spanish case

In this paper we present the following concept: the economic and organizational characteristics and the main aspects of the development of telecentres or telework centres, in a wide-ranging context of the use of telecommunications as an instrument to aid social-economic development of deprived rural and urban areas. To be more specific, we analyse how these Telework Centres are set up in diverse information related service enterprises aimed at other businesses or individuals. These initiatives are being subsidized by different public organisms as pilot development aid projects on an international scale. We have made an empirical study on a national scale, using 27 sample centres, from which we have obtained, amongst other things, the characteristics, economic objectives and results achieved from the initiatives that are underway in Spain or that are expected to be achieved from the setting up of these centres. Finally, we present our conclusions on the subject and list the literature used.     

Systemic risk in the Angolan interbank payment system – a network approach

ABSTRACT

In this work, we analyse the topology of the network of interbank payment flows settled via the real-time gross settlement system (RTGS) of the Angolan payment system (APS) during the fourth quarter of 2016, with the aim of discussing the APS resilience to systemic risk, focusing on its vulnerability in case of failures in the settlement of any bank payments. We conclude that (i) the Angolan RTGS payment network is sparse, characterized by low connectivity, (ii) it is a scale-free network with five banks with high connectivity, representing the main origin and destination of the settled transactions and concentrating about 47% of the total volume and amount of payments settled, which adds to contagion risk. However (iii) the systemic risk arising from the removal of a single participant from the network is low, since the largest bank in the system, with the greatest transacted volume and amount, accounts only for about 11% of the total transacted amounts. In addition, (iv) the adequate risk-mitigating operational processes of each of the RTGS subsystems safeguard the APS from systemic risk.     

The performance effects of human resource managers' and other middle managers' involvement in strategy making under different business-level strategies: the case in Hong Kong

We first developed theory arguing that HR managers' and other middle managers' involvement during strategy making would have different effects on performance for firms pursuing different business-level strategies. Then, our empirical study tested the hypotheses in the context of HR managers and middle managers in the Hong Kong Special Administrative Region, People's Republic of China. We found that HR manager involvement during strategy making was positively related to perceptions of future business performance. The use of a differentiation strategy was also positively associated with future performance. Neither the use of a cost leadership strategy, however, nor involvement by other middle-level managers, was directly related to perceived future performance. Interestingly, pursuit of a cost leadership strategy, combined with either high HR manager involvement or high middle manager involvement, produced high business performance. Thus, we found a positive and significant interaction such that increasing levels of manager involvement in strategy and a cost leadership strategy was associated with much higher levels of performance. Lower levels of manager involvement combined with the cost leadership strategy, however, were related to much lower performance. No such interaction effect was apparent for differentiation strategies.     

Exchange rate exposure and the use of foreign currency derivatives in the Australian resources sector

In this paper, we provide a re-examination of the exchange rate exposure and foreign currency derivative use by Australian resources firms in the 2006–2009 period which is characterized by increased volatility caused by the global financial crisis. In particular, we consider the interaction of a resources firm's exchange rate risk exposures, foreign currency derivative use and the global financial crisis simultaneously. Conforming to expectations, our results indicate that more companies are significantly exposed to exchange rate risk since the onset of the financial crisis. However, there is a lack of evidence that the use of foreign currency derivative is more effective in alleviating exchange rate exposures during the crisis as opposed to the pre-crisis period.     

Ten More Years of Error Rate Research

The assessment of the performance of supervised classification rules by estimating their error rate (the proportion of objects misclassified) is an important area of work in statistical pattern recognition. This paper reviews the last ten years of error rate research, bringing up to date the reviews of Hand (1986a) and McLachlan (1987). Since those surveys were published, old estimators have been improved new estimators have been introduced, and new approaches to error rate estimation have been developed. Some of this work has led to deep insights into classification methodology and statistical modelling in general.     

Domestic GHG emissions and the responsibility of households in Spain: looking for regional differences

The aim of this article is to analyze the responsibilities of Spanish households, as final consumers, for the generation of domestic greenhouse gases emissions (GHG), by region of residence, distinguishing between NUTS 1 and NUTS 2 (autonomous regions). The motivation is the process of convergence experimented by Spanish regions based on the strong economic growth experienced by the country until 2008, which could results in different emissions responsibilities because of different lifestyles and production structures. We examine in depth the relationships between a representative household in each region and its patterns of consumption. Although we do find a relationship between per capita income and regional responsibility for pollution generation, it is based on a demand scale effect, which overlaps the effects of the regional consumption patterns. Thus, in the richest regions (Madrid, Northeast, East), despite their having a less polluting pattern than other regions, the level of per capita embodied emissions is higher, due to their higher level of consumption. This scale effect, and the linkages between regional responsibilities for emissions and household consumption patterns are analyzed using linear models based on Social Accounting Matrices. The basis of the estimations is the regional emission intensity (average emission per euro spent by each type of regional home).