Browsing by Subject "PREM2019_08"

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  • Björk, Bo-Christer (2019-07-30)
    The acceptance rate of scholarly journals is an important selection criterion for authors choosing where to submit their manuscripts. Unfortunately, information about the acceptance (or rejection rates) of individual journals is seldom avai- lable. This article surveys available systematic information and studies of acceptance rates. The overall global average is around 35-40%. There are significant differences between fields of science, with biomedicine having higher acceptance rates compared to for instance the social sciences. Open access journals usually have higher acceptance rates than subs- cription journals, and this is particularly true for so-called OA mega-journals, which have peer review criteria focusing on sound science only.
  • Wies, Simone; Hoffmann, Arvid Oskar Ivar; Aspara, Jaakko; Pennings, Joost M.E. (2019-05-02)
    Shareholder complaints put pressure on publicly listed firms, yet firms rarely directly address the actual issues raised in these complaints. The authors examine whether firms respond in an alternative way by altering advertising investments in an effort to ward off the financial damage associated with shareholder complaints. By analyzing a unique data set of shareholder complaints submitted to S&P 1500 firms between 2001 and 2016, supplemented with qualitative interviews of executives of publicly listed firms, the authors document that firms increase advertising investments following shareholder complaints and that such an advertising investment response mitigates a postcomplaint decline in firm value. Furthermore, results suggest that firms are more likely to increase advertising investments when shareholder complaints are submitted by institutional investors, pertain to nonfinancial concerns, and relate to topics that receive high media attention. The findings provide new insights on how firms address stock market adversities with advertising investments and inform managers about the effectiveness of such a response.
  • Liljeblom, Eva; Maury, Benjamin; Hörhammer, Alexander (2019-07-30)
    Purpose – State ownership has been common especially in industries with restricted competition. In Russia, state controlled firms represent around 41% of the market value of all listed firms (Deloitte, 2015). Yet, there is a significant gap in the literature regarding the effects of various forms of government control in listed firms. The purpose of this study is to fill this gap by exploring the impact of the complexity of state ownership and competition on the performance of Russian listed firms. Design/methodology/approach – The sample consists of data for 72 firms (360 firm-years) in the Russian MOEX broad market index during 2011-2015. The complexity of state ownership is captured by studying forms of state control including majority/minority, direct/indirect, federal/regional, mixed structures, and golden shares. Findings – We find significant differences in performance relating to different forms of state ownership. State control is negatively related to firm valuation and the sales/employees ratio. Performance is weakest when state ownership takes the form minority, regional, or direct ownership. State control through golden shares typically outperforms other state controlled firms. We find indications of employment prioritization beyond the economical optimum. In addition, the relation between state ownership and profitability becomes positive in sectors where state firms appear to enjoy lower competition. Originality/value – While the effects of state ownership have been studied on many markets, there is a lack of studies on the effects of different forms, or the complexity, of state ownership beyond direct and indirect ownership. We contribute to the literature on the performance effects of state ownership by studying a multitude of forms of governmental ownership as well as the role of competition in Russia. Especially the profitability of state controlled firms is significantly affected by industry characteristics. Implications of the results are discussed both from firm and policy maker perspectives.
  • Kallio, Markku; Halme, Merja; Aspara, Jaakko (2019-07-25)
    It has been established that consumers are often loss averse in the sense that perceived value decreases to a greater extent as a result of a price increase than what it increases as a result of an equal price decrease. We examine a previously scarcely studied question: how is the change in a product’s perceived value following a price change reflected in the product’s market demand? To complement the notion of loss averse (vs. gain seeking) price behaviour in perceived value, we provide a definition for loss averse (vs. gain seeking) price behaviour in demand. We discover that loss aversion in value does not necessarily lead to loss averse market demand, but can also lead to market demand being gain-seeking. We examine the boundary conditions for loss averse vs. gain seeking demand. Assuming that consumer preferences are given by a random utility model and the choice model is McFadden’s conditional logit, we develop a simple formula to check the character of the price behaviour. This provides novel insights by revealing an unexpected key determinant: the market share of the product under consideration. Finally, we consider the optimal price changes and what kind of consumer behaviour in demand they are related to.
  • Nyström, Anna-Greta; Mickelsson, Karl-Jacob (2019-05-20)
    Purpose Previous research on advertising in digital contexts has emphasized its persuasive and information processing roles for the customer. This paper aims to problematize this point of view and argues that the converged and interactive nature of digital media makes all advertising content into potential points of engagement in a digital media journey. Design/methodology/approach The paper is conceptual in nature and applies service logic (SL) and customer engagement to reconceptualize digital advertising and selling. Findings The authors present digital advertisements and digital media content as elements that contribute to a digital media journey, which ideally leads to a purchase. Advertising content is regarded as a resource used by consumers in their underlying value-creating processes. Thus, the digital advertising process is conceptualized as a customer-driven process of engaging with digital media content, where a purchase is incorporated in (and naturally follows from) the theme of engagement. Research limitations/implications The paper introduces the concept of contextually embedded selling, which refers to a process where digital advertising content is thematically congruent with the surrounding editorial content, so that both contribute to the same consumer journey. Otherwise, consumers experience a contextual jump – a disconnect in theme, place or time during the consumer’s process of engagement with the digital content. Originality/value The paper contributes to advertising theory on advertising, engagement and the emerging research on consumer journey design by presenting an approach based on SL, namely, contextually embedded digital selling.
  • Khoreva, Violetta; Kostanek, Edyta (2019-07-01)
    Purpose The purpose of this paper is to investigate the evolving patterns and challenges of talent management (TM) in the emerging markets of Russia and Kazakhstan from the employer perspective. Increasing the understanding of how TM is recognized from the employer perspective may better equip us to address how to effectively manage and lead the available talents in these and other emerging markets. Design/methodology/approach The authors conducted a qualitative study comprising 50 semi-structured interviews, with 37 business leaders from Russian subsidiaries, and 13 from Kazakh subsidiaries, in all cases of Nordic Multinational enterprises (MNEs). Findings The study supports the object approach to TM in the emerging markets of Russia and Kazakhstan. The authors reveal that the exclusive and developable talent philosophy is predominant in these emerging markets, where TM faces the challenges of fierce competition for talents and an insufficient supply, so business leaders tend to be reluctant to inform employees of their talent pool membership. The results demonstrate that MNEs do not act independently of context, thus supporting calls for consideration of the local institutional context. Originality/value TM is still a somewhat novel idea in many emerging economies, and challenges related to managing talents are believed to be far more complex in such settings. Furthermore, to the best of authors’ knowledge, no studies have investigated the notion of talent and TM conceptualization in the emerging markets from an employer perspective.
  • Heaslip, Graham; Kovacs, Gyöngyi; Haavisto, Ira (2019-01-24)
    Cash transfer programmes (CTPs) are revolutionizing humanitarian supply chains (HSCs), yet just how CTPs are to be understood as innovation, and how they impact on HSCs, remains unclear. Innovation in the humanitarian context more often than not stems from outside humanitarian organizations – that is innovation occurs in their supply chain. The aim of this study is to further the understanding of supply chain innovation (SCI) in the humanitarian context. Based on empirical evidence this article suggests a supply chain innovation model (SCIM). This SCIM is useful because it allows different processes to be understood and compared, by providing guidance on how innovations progress. The contribution of this research is threefold: First, the research presents a SCIM for the humanitarian context. Second, this is the first application of a SCIM to the humanitarian environment. Finally, the research is field based and grounded in empirical observations thus adding to the literature and offering insights to practice.
  • Korkeamäki, Timo; Virk, Nader; Wang, Haizhi; Wang, Peng (2019-07-01)
    We analyze preferences of foreign institutional investors in the Chinese stock market in a sample that covers 2003 to 2014. We find that foreign investors changed their investment behavior during the sample period from generic patterns found in much of the world to China-specific patterns. The results suggest that foreign institutions learned to adjust their investment behavior to account for unique features of the Chinese market. Rather than following the diversified portfolio approach, they follow investment strategies that focus on a limited number of firm features.
  • Lundqvist, Alex; Liljeblom, Eva; Löflund, Anders; Maury, Benjamin (2019-07-24)
    Purpose The cultural and legal differences between foreign acquirers and African target firms can be substantial. There is also a large variation in cultures and legal systems within Africa. However, there is limited research on merger and acquisition (M&A) performance by foreign firms in Africa. The purpose of this paper is to fill this gap by exploring the “spillover by law” hypothesis (Martynova and Renneboog, 2008) that focuses on the influence of the external environment on the governance and performance of foreign M&As in Africa.   Design/methodology/approach The data set covers 415 M&A transactions by foreign firms in Africa during the period of 1999–2016. Dynamic data covering the country’s legal, cultural and political environment are collected from the World Bank, the Heritage Foundation and Transparency International.   Findings The authors find that the legal environment significantly affects the returns of bidders on African firms. For complete acquisitions, bidder returns are significantly higher when the bidder’s country has higher shareholder protection and higher creditor protection compared with the target firm’s country. The results show that the effects are significant when there is a full control change (including a change in the target firm’s nationality) but not in the case of partial control transfers. The results are consistent with the “spillover by law” hypothesis.   Originality/value The authors contribute to the literature on cross-border M&As by separately studying the valuation effects of full, majority and minority changes in control; by being the first study of the legal spillover effects in Africa; and by being the most extensive study of the legal determinants of the valuations of non-African acquirers of African firms.
  • Kauppinen-Räisänen, Hannele; Gummerus, Johanna; von Koskull, Catharina; Christini, Helene (2019-06-28)
    Purpose: The purpose of this study was to explore what luxury represents to contemporary consumers in their own life contexts. Design/methodology/approach: A mixed-methods qualitative approach was adopted that comprised individual, personal interviews and focused interviews with small groups. Findings: The study contributes to the field of luxury research by highlighting consumers’ interpretations of luxury as highly subjective, relative and contextual; showing that according to consumers, luxury relates to both consumption and non-consumption contexts; illustrating the value of luxury as a multidimensional construct in both contexts; and demonstrating how luxury may relate to a consumer’s desire to be meaningful and genuine, thereby generating prudential value. In these cases, luxury is closely linked to consumers’ perceptions of meaningfulness and well-being. Practical implications: For marketing managers, the findings suggest that the wave of new luxury – seeking meaningfulness – may serve as a novel means of branding. Originality/value: This study demonstrates that the significance of the concept of luxury transcends commercial settings and offerings, i.e. the brand, product or service. The findings show that luxury may also be generated in non-commercial contexts and specific activities (e.g. running, gardening). Based on these findings, it is proposed that luxury in non-commercial settings is characteristic of the new wave of luxury, and that in such settings, luxury may contribute to personal well-being, thereby generating prudential value.