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In this study, the empirical evidence regarding small- and medium-sized enterprises’ (SMEs) growth determinants allows us to conclude that: (1) stimulating factors are cash flow and gross domestic product; (2) restrictive factors are: debt, firm size, age of the firm and the interest rate; and (3) in the period after 2008, the financial crisis and implementation of austerity measures, in the Portuguese context, produced a negative effect on SME growth. In the period 2008–2012, that is, after the beginning of the financial crisis, cash flow had less importance, while debt was found to have a stronger negative effect on SME growth, compared with the pre-crisis period.
The study investigates demographic diversity, cognitive diversity and internal diversity within Islam among top-level management of firms and their impacts on the financial performance of Malaysian-listed companies. In addition, Muslim and non-Muslim women and Islamic religious diversity on corporate boards are investigated. Even though numerous organisations desire to be socially diverse, the significance of diversity for organisational performance remains uncertain. Are profitable companies inclined to improve board diversity or do other characteristics of the company contribute to firm performance? Does the participation of Muslim and non-Muslim women on corporate boards affect firm performance? Does internal diversity within Islam affect firm performance? Data from 330 Malaysian-listed companies in eleven full fledged sectors were used for the period from 2009 to 2013. This study employed econometrics methodology from panel data analysis to fill the research gap in the current management literature. This study used the interaction approach to examine empirically diverse corporate boards and their impacts on firm performance. This discussion included: (1) a combination of gender diversity and ethnic diversity and (2) a combination of gender diversity and foreign participation. The findings suggest that demographic, cognitive and internal diversity within Islam are significant predictors of a firm’s financial performance. Ethnic women on boards have a significant and negative impact on firm performance. Hence, companies having high profits are more accountable for encouraging diversity among top-level management.
China is now poised to achieve its national aspiration of becoming an innovation economy. As it seeks to greatly increase equality in wealth creation, it also aims to assert global leadership in the development of all transforming economies, lead an expansion of international trade, and contribute to global environmental security policies. President Xi Jinping gave voice to these aspirations in his opening speech to the nineteenth national congress of the Chinese Communist Party in October 2017.
Management and Organization Review (MOR) is announcing a renewed initiative that seeks to attract and publish research embodying engaged indigenous scholarship in the context of transforming economies. Tsui (2004: 501) defines ‘indigenous research’ as ‘scientific studies of local phenomena using local language, local subjects, and locally meaningful constructs, with the aim to test or build theories that can explain and predict . . . phenomena in the local social cultural context’. By scientific studies, she emphasizes the need for high-quality indigenous research as judged by the scientific community.
Modern portrayals of human action are overwhelmingly in a calculative and consequentialist tradition. Consequentialist reasoning is the basis for most of modern social and behavioral science and preeminently for economics. Action is seen as choice, and choice is seen as driven by anticipations, incentives, and desires. These ideas trace their roots at least to the Greeks, owe substantial parts of their modern manifestation to the formulations of Jeremy Bentham, and derive much of their contemporary power from the geniuses of L. J. Savage and John von Neumann.
This book studies accounts of alternative organisations in India and provides critical insights on if and why alternative organisations matter to management theory and practice, how management theory can be applied to the context of alternative organisations, and how, from an alternate organisational perspective, existing debates in management can be enriched. Some other questions examined in this book are: what are spaces of organising outside corporations? How do these alternative organisational forms challenge our assumptions about a globalised, monolithic capitalist order? How do we understand the organisational lives of those marginalised, silenced and oppressed? How can we imagine an alternative organisational reality? It includes cases from different parts of India that explore the functioning of a Special Investigation Team constituted by the Supreme Court of India, Mritshilpis (idol-makers), homeless shelters, panchayats, Shahid Hospital, Budhan Theater, Swaraj University, and organisations that promote social inclusivity.
This paper presents an evaluation of the use of environmental valuation – techniques to assign monetary values to environmental impacts of policies and projects, especially nonmarket impacts – in U.K. policy. In doing so, we seek to contribute to the debate, more generally, of the use and influence of benefit-cost analysis (BCA) in national policy processes such as Impact Assessment. Specifically, our contribution in this paper is two-fold. First, we identify a number of trends that have characterized U.K. policy use of environmental valuation over the past two or so decades. While this has notably involved development of “sharable values” allowing more widespread uptake, it also seems that different branches of government have developed different traditions of use adding nuance to what, on the face of it, is otherwise a shared endeavor. Second, we evaluate the extent to which the use of environmental valuation can be said to have influenced policy decisions and the degree to which this is embedded by evolving policy processes. As such, we discuss two areas of environmental policy – water quality improvements and natural capital – which have entailed either substantial use of environmental valuation either in determining specific policy and investment project options or where this has helped shape the broader policy agenda. Our evaluation is not exhaustive; nor do our findings suggest that environmental valuation and BCA are necessarily the dominant driver of decisions, as we discuss. However, in recognizing this, we argue it is also important to consider a number of established or evolving cultural and legal institutional processes which broadly appear to support our assessment of such cases.
Exploiting differential interstate-branching deregulation across contiguous counties of adjacent states, we investigate the effect of entry threat on incumbent banks’ loan-loss provisions. Incumbents exposed to entry threat have offsetting incentives; lower provisions make their loan-underwriting quality appear better, deterring entry, but make local economic conditions appear better, encouraging entry. We find that the incentive to increase apparent loan-underwriting quality dominates on average. We further find that this incentive is stronger in counties with a higher proportion of heterogeneous loans, while the other incentive dominates in counties with both low heterogeneous loans and highly volatile economic conditions.
After entrepreneurs start their ventures, they often look to grow them in order to achieve scale, survive and maximize their potential. This chapter analyzes the dynamics of early-stage ventures, exploring theoretically how entrepreneurs learn about their abilities, and either grow their businesses or shrink them before closing down altogether. Theories of `shakeouts’ chart these dynamics at the aggregate level of entire industries, explaining why some early-stage entrants innovate and grow, while others fail to keep up and exit. After explaining how venture growth can best be measured in practice, evidence about the patterns and determinants of new venture growth is reviewed.
Most of the entrepreneurship described in this book is productive and socially useful. However, entrepreneurship also has a dark side, whereby some entrepreneurs make a living by expropriating others. The chapter starts by analyzing `rent-seeking’ behaviors of this kind: entrepreneurs can be the victims as well as the perpetrators of these activities. The role of institutions is emphasized: pertinent theory and evidence is reviewed. The remainder of the chapter deals with more productive types of entrepreneurial effort, including determinants of their work hours, including as entrepreneurs age and approach retirement. The role of entrepreneurial learning is also discussed here. The chapter closes by considering other labor market decisions of entrepreneurs, namely their hiring choices. The characteristics of so-called `job creators’ are delineated; thr scale of job creation by small and new firms is described; and some policy implications are discussed.
Unlike the previous chapter, which discussed theories of entrepreneurship framed at the level of the individual, this chapter treats theories framed at higher levels of aggregation. These levels are the regional and the macroeconomic. Regional theories explore why some geographic locations experience different quantities and types of entrepreneurship than others, while macroeconomic theories are concerned with national differences in entrepreneurship and processes linking entrepreneurship with economic development. The chapter discusses various mechanisms that link entrepreneurship with economic growth, and which delineate the role of innovative entry and exit over the business cycle. Different theories predict the `quality’ as well as the quantity of entrepreneurship to vary in different ways as economies swing between upturns and recessions.
Entrepreneurship is often touted as an escape route for ethnic minorities and immigrants who face employment barriers in the regular labour market. The present chapter first discusses theory and evidence on discrimination against minorities in the product, labour and credit markets, before identifying several positive factors that might encourage minorities to start their own ventures. Evidence on the sources of different entrepreneurial propensities and outcomes between minorities and majority workers is then presented. The chapter next explores the tendency for immigrants to become entrepreneurs, and reviews evidence on their performance outcomes.