Information asymmetry in the innovation adoption decision of tourism and hospitality SMEs in emerging markets: A mixed-method analysis

Investment decisions, particularly innovation adoption decisions, can sustain long-term viability of small and medium enterprises (SMEs). However, information asymmetry could limit the ability of SME management to make informed innovation adoption decisions. Even though information asymmetry is a multidimensional construct, prior literature has only focused on financial information asymmetry in such decisions. Therefore, the current study fills the research gap by conducting two separate studies: one analyzes World Bank Group data from 1250 observations in 11 emerging markets, and the other interviews eight SME owners and managers. The findings of the mixed-method studies suggest that financial, business regulation, and court information asymmetry decrease the likelihood of SMEs' product innovation adoption. The study contributes to a more comprehensive understanding of information asymmetry in SMEs’ decision-making rooted in agency theory. Moreover, its methodological contribution lies in measuring information asymmetry with micro-level data.     

The international diversification-performance link in Spain: Does firm size really matter?

This study provides new insights into the link between international diversification and firm performance in a sample of large manufacturing firms and SMEs based in Spain for the 1994–2008 period. Specifically, the focus is on how the nature and shape of this relationship may vary over time with firm size. The results show the existence of a horizontal-S curve when the whole sample of firms is considered in the empirical analysis. However, major differences are found between SMEs and large firms, and even within the actual group of SMEs. Strong support is found in large firms for the existence of a horizontal-S curve. Within the group of SMEs, there are small firms with a linear and negative relationship, whereas medium-sized firms record a U-shaped form. These findings suggest that as the international diversification-performance link is size-dependent, future research should explicitly consider firm size in order to better understand the nature of this relationship.     

Participation and retention in a green tourism certification scheme

Tourism certification schemes offer a transitional procedure to a more transparent and sustainable tourism product. Engaging current and previous Green Tourism Business Scheme (GTBS) members in Scotland, this research addresses issues of retention affecting progression of sustainable tourism supply. Quantitative analysis tracking GTBS members over three time points reveals 2% growth but conceals significant flux in membership. Retention was calculated at 66%, where business type analysis discloses distinct issues among accommodation providers with 42% departing the scheme. Decline is greatest among B&;Bs and guesthouses (?61%), where poor and falling recruitment coincides with very poor retention (33%). Our analysis demonstrates that slow growth in membership is primarily a result of enterprises choosing to leave the scheme, rather than poor recruitment. Questionnaires from past and present GTBS members (n = 109) confirm the importance of personal pro-environmental philosophies and perceived business benefits in attracting members, yet anticipated benefits do not always materialise. The main reasons for leaving the GTBS relate to membership cost and unrealised benefits. Lack of scheme awareness, management, criteria, bureaucracy and time commitment were further departure factors. The paper offers some suggestions to address issues and enhance retention leading to sustainable growth among tourism certification schemes.     

Technological Innovation Drivers in Rural Small Food Industries in Iran

The first step in devising the best incentives to support innovation is to investigate factors that affect the development of innovations. This article contributes to exploring such factors in small food industries in the rural areas of Tehran province, Iran. Using a census sampling method, 111 managers of 60 active firms were interviewed. The results showed that in general the level of technological innovation is low in the studied firms. The managers do not find the technological changes successful in bringing benefit to their firms. Even though correlation analysis indicated a complex association matrix between independent variables, only the firm's capacity of production was associated with technological innovation as a dependent variable. Furthermore, the regression analysis revealed that factors which influence technological innovation are the firm's age, formal research and development, fixed capital, and capacity of production. The results of this study were used to derive practical suggestions for managers and policymakers to increase technological innovation in the studied industry.     

中小型企业消防安全现状及解决策略

随着经济的飞速发展,以及政府给予的各项有利政策,中小型企业特别是以生产加工为主的中小型企业更是如雨后春笋般迅速崛起壮大,但也随之带来了诸多消防安全问题。据统计,近年来发生在中小型企业的火灾、爆炸事故占火灾总数的40%左右,群死群伤事故时有发生。文章就中小型企业在消防方面存在的各种问题及应对方法做简要的分析。     

中小房地产企业资金链断裂问题分析及其对策研究

近年来,房地产企业作为一个热门行业,一直保持着高速发展状态。但由于受政府宏观政策调整、金融机构无序行为、宏观经济周期变动、担保连带责任的建立以及高负债率、融资途径狭窄和企业内部资本安排不合理等内外部原因的影响,导致中小房地产企业的资金链断裂问题频发。我国应立足于企业自身特点,充分发挥政府"看得见的手"的作用,加快构建科学的管理体制,积极拓宽融资渠道,合理调整融资结构,加紧资金筹措及资金规划,以有效促进我国房地产事业的持续健康发展。     

New product development in foreign customer relationships: a study of international SMEs

Abstract

This study identifies a gap in research concerning how small and medium-sized enterprises (SMEs) can benefit from pursuing locally (rather than globally) oriented internationalization strategies. Becoming overly dependent on one single foreign market could potentially reduce the inflow and diversity of new knowledge that can serve as input for new product development. This study discusses how this risk can be minimized. In this endeavour we create a theoretical model that investigates how the local sales concentration and relationship-specific commitment of SMEs relates to new product development. To do this we draw on the behavioural internationalization process framework. The theoretical model is tested on an effective sample of 188 Swedish SMEs. The results show that relationship-specific commitment mediates the effect of local sales concentration on new product development. The implication is that investments which enable collaboration in important business relationships are crucial requisites for keeping firms innovative and in pace with market fluctuations. The findings thus contribute to international business literature by showing that a local market scope of operations combined with a relationship orientation are beneficial for new product development in international SMEs.     

Strategies of Korean firms in china's high‐tech market: Striving for a new and sustainable business model

China has become a strategically important market for Korean companies. While cooperating with China is obviously important for their success and survival, a more difficult question lies in finding a new and sustainable business model applicable to China. This paper studies the current challenges and strategies of Korean Small and Medium‐sized Enterprises (SMEs) in the high‐tech market such as the mobile handset and online game industries that are trying to extend their business to China. It focuses on the issue that Korean firms face in order to find a way to survive and integrate with a rising China. By conducting an in‐depth firm level analysis, it examines their successes and failures in terms of what parts of the value chain they specialize in and how they establish a division of labor with China.     

发达国家中小企业税收政策对我国的启示

发达国家非常重视中小企业,采取种种税收鼓励措施扶持其发展。我国没有建立起规范的中小企业税收制度,政策优惠力度不足,增值税制不完善,需要进一步建立与完善有利于中小企业发展的税收政策体系,提高税法级次,调整现行政策,加大对中小企业的税收支持力度,促进中小企业的快速发展。     

债券融资支持工具实践路径研究--基于2018~2019年浙江省民营企业数据

为稳定和促进民营企业发债融资,以市场化方式帮助缓解民营企业融资难,2018年,国务院常务会议决定设立"民营企业债券融资支持工具"。基于此背景,本文选取民营企业债券融资支持工具作为研究对象,分析其实践机制,并以浙江为例探索实施民营企业债券融资支持工具的实现路径和难点所在。研究发现:浙江债券融资支持工具的实践探索持续协调发展,在创设主体、标的债务、凭证定价等三方面呈现趋优转向,但其发展仍受认知差异、计量规则、风险偏好、预期收益等复杂因素影响。