Cross-cultural analysis of the global mindset and the internationalization behavior of small firms

This research analyzes the influence of a global mindset on the internationalization behavior of Norwegian and Portuguese small firms. It specifically sets out to assess the role of global orientation of the entrepreneur and firm perspectives on the global market. Based on a sample of 354 small firms, we used structural equation modeling to conduct our analysis. The results show the differing importance of a range of factors in explaining global mindset in different contexts. The global mindset of Norwegian entrepreneurs conditions their behavior and international experience, while for Portuguese entrepreneurs it affects the cognitive domain and their technical expertise. Global mindset and global orientation have more relevant effects on the internationalization behavior of Norwegian firms than that of Portuguese firms.     

Rio 2016 and the sport participation legacies

The aim of this study was to investigate the perceptions held by physical education professionals of the sport participation legacy associated with the 2016 Olympic Games (Rio 2016). Semi-structured interviews were conducted with 24 professionals who resided in Rio de Janeiro at the time of the study. In general, apart from the tangible legacies, individuals were completely unaware of what is being proposed by the different levels of government and the organising committee to maximise the potential benefits of the event for the local community. According to participants, the local population was never consulted about, or properly informed of, what was involved in staging the event and its planned legacies. The perceptions of post-Games changes in sport participation, using the 2007 Rio de Janeiro Pan-American Games as a point of comparison, ranged from no impact to a short-term increase. The reason for this, according to participants, was the lack of long-term planning and policies to encourage and promote sport participation. In conclusion, in order for benefits of mega events to be leveraged, the different levels of government need to develop long-term actions and policies to encourage sports participation in conjunction with the employment of the infrastructural legacy towards this end.     

Parsimonious Models of Financial Insolvency in Small Companies

This study is an extension of current research on insolvency diagnosis. We intend to demonstrate that in small firms, the relevant information for the preventive diagnosis of insolvency can be synthesised in a model built upon a more reduced number of economic and financial ratios than the ones generally used in this kind of study. Our approach produces parsimonious models that can extract information from publicly available accounting-financial data. We demonstrate that using an extensive exploratory stage that will monitor the effects of correlation between financial variables, we will be able to build relatively stable models with a small set of variables.The results of the models built by resorting to discriminant analysis and to logistic regression present a similar accuracy to models previously developed. Our models present the advantage of including a small number of variables that can be interpreted in the light of current financial theory and therefore it reduces the number of financial data needed to make an insolvency diagnosis. This is particularly decisive when working in an environment of restricted information availability, which is very common in small companies.     

The Sky and Sustainable Tourism Development: A Case Study of a Dark Sky Reserve Implementation in Alqueva

This paper shows the development of a tourism product in a destination that uses the night sky as its main source of attraction. Using this innovative product has helped to create a distinctive image, which is likely to attract a more diverse range of visitors and has assisted in improving economic, social and environmental sustainability. First, we present an overview about sustainable tourism and the sky as a tourism resource followed by a case study, in Portugal, that illustrates the potential of Dark Sky activities for tourism development in rural regions. Copyright © 2014 John Wiley & Sons, Ltd.     

LINKING STRATEGY,STRUCTURE, PROCESS,AND PERFORMANCE IN INTEGRATED LOGISTICS

The current research was undertaken to present and test a framework of supply chain logistics integration that synthesizes current logistics thought with an established theory of organizational design. The framework portrays performance as an outcome of appropriate alignment between strategy, structure, and processes. The results support the contention that a firm that pursues a relational strategy, develops information and measurement structures to support relational processes, and then uses these tools to implement and execute integrated operations will experience high levels of logistical performance. In addition, the results indicate that superior logistics performance is related to simultaneous integration of internal and external operational processes.     

Asset prices and business cycles with costly external finance

This paper asks whether the asset pricing fluctuations induced by the presence of costly external finance are empirically plausible. To accomplish this, we incorporate costly external finance into a dynamic stochastic general equilibrium model and explore its implications for the properties of the returns on key financial assets, such as stocks, bonds and risky loans. We find that the mean and volatility of the equity premium, although small, are significantly higher than those in comparable adjustment cost models. However, we also show that these results require a procyclical financing premium, a property that seems at odds with the data.     

Adoption of International Financial Reporting Standards Has Enhanced Chinese Company Transparency

The research reported here shows that China＇s recent adoption （ASBE） has increased the quality of Chinese financial reporting of Accounting Standards for Business Enterprises With China＇s decade of World Trade Organization （WTO） membership marked by dazzling economic growth, it is useful to reflect on how financial reporting itself can assist in the country＇s future progress. Critical to the success of ensuring strength for this burgeoning economy is attraction of foreign investment capital. As China＇s internal consumption grows,