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Do Entrepreneurial Attitudes Explain the Rising International Business Orientation in Developing and Emerging Economies?

Abstract

This paper examines the characteristics that relate to a country’s entrepreneurial attitudes, perceptions, intentions, and aspirations for 17 developing and emerging economies during the 2002-2016 period. Many of those countries have recorded high economic growth rates and have increasingly become more outward-oriented in terms of both, exporting activities as well as direct investments abroad. The empirical analysis is based on survey data from the Adult Population Survey of the Global Entrepreneurship Monitor (GEM) project. We create an overall entrepreneurial attitude index (taking values between 0 and 100) from 6 underlying GEM entrepreneurial attitude indicators. In addition to examining relevant cross-country patterns and trends, a statistical analysis is conducted to test whether a more positive entrepreneurial attitude in a country is associated with a higher international business orientation. The findings indicate that there has been an increase in the overall entrepreneurial attitude index on average, but there are different trends among countries. Most importantly, the results show that improved entrepreneurial attitudes do not explain the increasing international business orientation that has been observed during the sample period. This suggests that in the developing and emerging economies under study other factors were strongly driving the expansion of international business activities.

Open access
Factors Influencing Customers’ Attitude Towards SMS Advertisement: Evidence from Mauritius

Abstract

The purpose of this paper is to investigate factors influencing Mauritian consumers’ attitude towards SMS advertising. Based on the Uses and Gratifications (U&G) theory, a questionnaire was designed and administered among 277 University of Mauritius students using a survey method. Results showed a positive relationship between infotainment, credibility and SMS advertising value. Findings also revealed that advertising value had a positive impact on attitude towards SMS advertisement. Conversely, irritation had a negative relationship with the SMS advertising value. Therefore, marketing managers should present precise information to consumers in a pleasant and enjoyable way. Offensive, insulting and frustrating elements in SMS adverts that can irritate consumers should be avoided. These findings have managerial implications for marketing practitioners in creating and implementing effective SMS marketing campaigns to tap into the benefits of using mass advertising.

Open access
Family Entrepreneurship in India’s ‘Diamond City’: A Phenomenological Research

Abstract

The history of family run business in Surat, India is more than 350 years now. However, over the last several decades, it has been observed that family run enterprises in Surat have not been able to scale up the business by untapping opportunities in international markets. The paper aims to explore the experiences of family-run enterprise owners in their attempt to grow their businesses in Surat. Given the stagnant growth trajectory, less expansion, and minimal diversification over the last several decades, the researcher is intrigued to study the experiences of these family-run enterprise owners. As a phenomenological research study, there is only one question: What experiences have these enterprise owners faced in a family-run enterprise as they attempt to grow their businesses? Non-leading prompts were asked to encourage participants to expand their responses to lead to a deeper understanding of those experiences. As respondents, seventeen family-run enterprise owners have been contacted for In-Depth Interview (IDI). The respondents were from diamond, textile and restaurant business in Surat. The study aided in identifying existing challenges and strengths making the whole experience of family-run enterprise owners unique, diverse and different from the conventional businesses operating in different industry. The findings indicate that the potential of family-run enterprises have not been harnessed to its fullest due to prevailing mediocrities, sub-standard practice, sophisticated and disoriented business procedures and system. Organization Development (OD) interventions would be effective in unearthing deeper issues and problems amongst these family-run enterprises in Surat.

Open access
Forecasting Passenger Traffic for a Regional Airport

Abstract

The purpose of the present research is estimating the potential traffic for SIA (Sibiu International Airport, SBZ) for the year 2017. Predicting as accurate as possible the passenger traffic for a certain airport is an aspect of major importance for both the airport management and the airline companies. The theoretical quality of the forecasting models for air traffic of passengers is fundamental for obtaining the most accurate predictions. In this regard, a two-step process was used in developing the traffic forecasting model: (1) Identifying the proper regression model for traffic estimation based on the number of aircraft departures, and (2) Forecasting the number of aircraft departures for the current routes operated SIA. The predicted total passenger traffic overestimates the actual total traffic with only 2.4% and the actual total traffic without the transit traffic with only 1.42%.

Open access
The Global Crisis and the Subsidies to Manufacturing Firms

Abstract

The 2008-2009 global crisis has severely affected the world economy. Most national governments utilized fiscal policy measures including subsidies to reinforce and sustain their economies. In this study we examine the impact of the 2008-2009 global crisis on subsidies paid to manufacturing firms either by their governments or the European Union (i.e. EU). Our results indicate that, overall, a significantly larger proportion of firms had received subsidies after the global crisis. When we look into different subgroups, we find that firm size, female ownership, female management, and quality certification did not matter (more firms in all of these subgroups had received subsidies). On the other hand, our results demonstrate that firm type and top manager’s experience level made a difference in terms of subsidies received after the crisis.

Open access
Inside the World – Class Multinationals: A Sectoral Frame

Abstract

Background. A firm, as it develops, tends to overcome local, regional, and national business environment boundaries by expanding into global economic space. The intense dynamics of internationalization, the expansion of multinational companies from emerging economies, the presence of multinational companies owned by the state are just a few of the specificities that shape the global business environment today. In the literature, these trends have become challenging topics, both open to criticism and appreciation.

Aims and approach. In this study we aim to map the expansion of business in the international environment from a sectoral perspective. In this respect, using the data synthesized by UNCTAD in the World's Top 100 non-financial MNEs and Top 100 non-financial MNEs from developing and transition economies, we aggregated, for each sector, the main performance indicators (assets, sales and employment) which reflects the magnitude of the expansion of the activity of the companies included in these ranks outside the economic area of origin. Also, based on the algorithm for calculating the Transnationality Index, we have calculated an aggregate Sectoral Transnationality Index for each of the two tops.

Conclusions. The analysis carried out leads to a series of conclusions regarding the dynamics and configuration of the universe of the world's most prominent multinational companies. Although this is mainly an exploratory research, we appreciate that this sectoral approach leads to a deeper level of analysis, expanding the area of knowledge in the field and, at the same time, creating a framework for new investigative perspectives.

Open access
Investments, Economic Growth and Employment: VAR Method for Romania

Abstract

Economic growth can be seen as an effect of both fiscal policies and different legislative norms applied at national and macroeconomic level. Investments are a determining factor in the evolution of socio-economic life, influencing also the employment rate. This paper aims to identify the influence of investments on economic growth and employment using the vector autoregressive model (VAR). Based on the quarterly data from Romania, between the first quarter of 2000 and the second quarter of 2018, the Granger causality test and the impulse - response function was applied to identify the effect of the investments on the sustainable development of the Romanian economy. The results revealed that investments in Romania influence the economic growth and, implicitly, the employment. In terms of impulse – response function, a negative relationship between investment and employment was identified, which may be due to the fact that the need for human resources is no longer a priority in some sectors of activity due to technology.

Open access
Leverage and Macroeconomic Determinants: Evidence from Ukraine

Abstract

Viewed retrospectively since the work of Modigliani and Miller (M&M, 1958), the capital structure still remains a matter of study. The capital structure issue then is examined from different perspectives, and thus intertwining firms and macroeconomic determinants. Studies were focused to examine the relationship between leverage ratios and macroeconomic environment. Motivated from what was done earlier, we try to bring in this study evidence as well. Thus, totally 49 Ukrainian firms are selected and data are examined from 2012 to 2016. The paper is aimed at studying the process of leverage adjusting by examining five firm’s characteristics and three macroeconomic determinants. We found that leverage is influenced significantly from both, firm characteristics and macroeconomic determinants. The study provides evidence those firms with higher tax shield, tangibility, net trade credit, and profitability used more leverage than counterparties. Firm’s size and inflation are confirmed as insignificant determinants. On the other hand, GDP growth rate and default spread are confirmed to play a role on leverage policies.

Open access
Logistics and Supply Chain Management: An Overview

Abstract

The purpose of this paper is to identify and explore the content of Logistics and Supply Chain Management, and to find the connections and the differentials factors that are between the two areas. The study is based on literature review and wants to find the core subjects and the differentials between the two areas, in order to a better and comprehensive understanding of these topics.

Open access
On the Homo Œconomicus Model of Rationality

Abstract

The study intends to deliver a logical analysis of the well-known (and too much used) model of rationality named homo œconomicus. To this end, it is put into evidence the reductionism of the model (more, its cartesianism and mechanicism), by logically assessing the basic principle and the axioms and, also, the relaxations introduced over time. The paper gets the conclusion that economists tried successively to save the homo œconomicus model over time, but all these attempts did nothing but block the developments of the economic theory. Finally, the research organizes into a diachronic matrix the different ways in which economists actualized the genuine model in order to put it in line with the actual behaviour of the economic subject.

Open access