Does the technological sourcing decision matter? Evidence from Spanish panel data

This paper extends previous analysis of the choice between internal and external R&D to consider the effect of this decision on productivity. Existing empirical research confirms that there is a positive relationship between technological assets and firm performance. However, few works have attempted to identify whether the technological sourcing decision taken by the firm affects productivity. The main finding of this paper is that the technological strategy developed by the firm does affect productivity. This issue is particularly novel as it incorporates the technological sourcing decision taken by the firm. The results we obtain indicate that the technological sourcing decision affects the relationship between technological capital and productivity. Thus, our findings suggest that the decision between internal and external R&D matters.     

Ownership,organization, and private firms' efficient use of resources

The principal–agent theory asserts that public firms' performance is driven by efficient capital and labor markets but is silent about non‐listed private companies, which are less permeable to market forces (both capital and labor) than are public companies. We propose and test a 2 × 2 framework distinguishing owner‐controlled vs. agent‐led firms from firms with a flat vs. multilayer organization. Our findings provide highly contrasted results and raise important issues for further study of private firms. Copyright © 2003 John Wiley & Sons, Ltd.     

Selling at the Farmgate or Traveling to Market

Using detailed survey data from Uganda, this article examines whether coffee producers sell to itinerant traders or directly to markets, where they can get a higher price but must incur a transport cost. We find that selling to the market is more likely when the quantity sold is large and the market is close by. Wealthy farmers are less likely to sell to the market, possibly because the shadow value of their time is higher. But if they have a large quantity of coffee for sale, they are more likely to sell it to the market. They are also more likely to travel to a distant market. These findings are consistent with their better ability to pay for public transportation. We find no evidence that the decision to sell at the farmgate is driven by a self-control motive.     

Can we find the right balance in cause‐related marketing? Analyzing the boundaries of balance theory in evaluating brand‐cause partnerships

Cause‐related marketing (CRM) refers to the phenomenon where brands partner with causes, such as nonprofit organizations. Consumers may see some CRM partnerships as less compatible than others, however the level of perceived compatibility differs from one consumer to another. We know a great deal about how perceptions of compatibility affect attitude and behavior toward CRM partnerships, but we know less about how to predict a consumer's perception of compatibility. Therefore, our purpose was to investigate the boundaries in which balance theory could be used to make predictions about consumers’ responses to CRM partnerships. This is the first study to consider the construct of attitude strength (vs. attitude alone) when considering balance theory. We found that a consumer's attitude toward a brand, along with their attitude toward a cause, predicts their perceptions of CRM compatibility. We also found that CRM triadic balance could be predicted when attitude strength was included in the models, and that balance theory allowed us to observe preliminary evidence of attitude and attitude strength spillover effects in CRM triads. Practitioners can use these insights to determine which organizations to partner with, as well as determine how advertising these partnerships may affect acceptance of these partnerships.     

Does the size of a fund family matter when choosing an investment strategy? Evidence from spain

This paper aims to determine whether the size of a fund family influences investment strategy (stock picking or market timing) in the Spanish mutual fund market. This is a highly concentrated market, being controlled by two banks with a percentage of 46%. The impact of considering time-varying returns and risks on selectivity and market timing results is also assessed. Our results indicate that large management companies follow a market timing strategy, while small management companies are better at stock picking. These results are more obvious when conditional information is included. Additional tests are carried out to check the robustness of our results. We observe that the results obtained for large and small management companies are maintained when we control for fund size and when we introduce additional benchmarks into the timing model. However, when the time period is divided into two subperiods, the results are no longer robust. This may be connected to the evolution of returns in the Spanish market.