• Information systems project failure – analysis of causal links using interpretive structural modelling

      Hughes, D.L.; Dwivedi, Y.K.; Rana, Nripendra P.; Simintiras, A.C. (2016-12)
      The analysis of the root causes of information systems project failure has been the subject of intense scrutiny for some time within industry and the academic community. Researchers have developed various models, notions of failure and categorisations to succinctly classify project failure into a set of key factors for organisations and project managers to focus on in their attempts to avoid failure. This study incorporates a technique titled: interpretive structural modelling as the methodology to formalise the relationships between the selected failure factors. This approach is positioned as a mechanism that can yield greater insights into the relationships between the factors surrounding project failure, thereby developing a better understanding of how these relationships can have a bearing on project outcomes. The findings identify key driving variables that are presented as having significant impact on the other factors within the model. A number of variables are also identified as being heavily dependent on other connected factors highlighting that a failure in one or more of these connected factors is likely to result in a failure in one or more of the dependent factors unless timely steps are taken to address these key issues. This research details a number of practical implications for senior management and project managers as well as the academic community. These considerations form an underlying thread within this study as specific practice-related implications are highlighted and discussed throughout the study.
    • Informative content of insider purchases: evidence from the financial crisis

      Ozkan, Aydin; Trzeciakiewicz, Agnieszka (2014)
      Purpose – The purpose of this paper is to investigate the impact of insider trading on subsequent stock returns in the UK, with a specific focus on the impact of the global financial crisis of 2007-2008 on the relation between CEO and CFO stock purchases and returns. Design/methodology/approach – The empirical analysis uses 10,230 purchases executed in 679 UK firms by 1,477 directors during the period from 2000 to 2010. Subsequent market-adjusted stock returns are regressed on a set of firm-specific accounting, market and corporate governance variables as well as the characteristics of CEOs and CFOs. Additionally, the analysis distinguishes between the opportunistic and routine trades. Findings – The findings reveal that the position of the trading director and the nature of their trades are important in determining the impact on returns of insider trades. In particular, CEO purchases are on the whole more informative than CFO purchases and opportunistic purchases. The trades in the post-crisis period have a greater impact on subsequent stock returns. Research limitations/implications – The empirical analysis is limited to the trades made by two executives. Future research should consider inside trades by all directors and distinguish between executive and non-executive directors. Also, a behavioral measure should be developed to test if the financial crisis affected the trading behavior of directors and whether directors use insider trading strategically to signal information to the market. Practical implications – The impact of directors’ dealings on stock returns is not homogeneous. Financial analysts and investors should pay more attention to different types of trades and the identity of trading director. Originality/value – This paper, to the authors’ knowledge, provides the first attempt that combines in the same framework the identity and personal attributes of trading executive directors, firm-level corporate governance features, the nature of purchase transactions and the trading period characteristics. Furthermore the empirical analysis is carried out during a period that also covers the recent global financial crisis period and its immediate aftermath.
    • The Inherent Tensions within Sustainable Supply Chains: A Case Study from Bangladesh

      Shareef, M.A.; Dwivedi, Y.K.; Kumar, V.; Mahmud, R.; Hughes, D.L.; Kizgin, Hatice; Rana, Nripendra P. (Francis and Taylor, 2019)
      The complexities surrounding the supply chain logistics for perishable commodities within Bangladesh are extensive. Poor infrastructure, fragmented transportation and corruption compound the operational complexities within this emerging market. This case study analyses many of the day-to-day operational challenges and tensions inherent within Micro-Small-Medium Enterprises (MSMEs) forming the backbone of the Bangladesh socio-economic structure. The drive for transition toward greater levels of sustainability and corporate responsibility is problematic, affecting many levels within an extended and fragmented supply chain. The selected case study highlights the “lived in” geographical, environmental, economic and cultural factors that impact the ability of emerging market enterprises to remain profitable within emergency scenarios whilst transitioning toward a more sustainable model. This study, whilst detailing many of the tensions and critical issues facing MSMEs, highlights the benefits of direct Government intervention, criticality of a leaner and more efficient supply chain and reassessment of financial incentives to drive the transition to a more efficient and sustainable economy.
    • Injunctions as a legal weapon in collective industrial disputes in Britain, 2005-2014

      Gall, Gregor (2016-06)
      This article examines the frequency, nature and outcomes of employers seeking injunctions against strikes and industrial action mounted by unions between 2005 and 2014. The number of actual and threatened applications continues to be relatively high compared with the previous period when strike levels were significantly higher, with employers continuing to gain overwhelmingly successful outcomes. Yet usage is increasingly concentrated in a small number of industrial sectors, suggesting the notion of ‘strike effectiveness’ provides the best means by which to explain their relative frequency and presence. Comparative analysis with Ireland highlights the specificity of the nature of British legal regulation of employer seeking injunctive relief.
    • Innovation and creativity in organizations: a state-of-the-science review, prospective commentary, and guiding framework

      Anderson, Neil; Potocnik, K.; Zhou, J. (2014-07)
      Creativity and innovation in any organization are vital to its successful performance. The authors review the rapidly growing body of research in this area with particular attention to the period 2002 to 2013, inclusive. Conceiving of both creativity and innovation as being integral parts of essentially the same process, we propose a new, integrative definition. We note that research into creativity has typically examined the stage of idea generation, whereas innovation studies have commonly also included the latter phase of idea implementation. The authors discuss several seminal theories of creativity and innovation and then apply a comprehensive levels-of-analysis framework to review extant research into individual, team, organizational, and multilevel innovation. Key measurement characteristics of the reviewed studies are then noted. In conclusion, we propose a guiding framework for future research comprising 11 major themes and 60 specific questions for future studies.
    • The Institution That Wasn't: The birth, short life, and death of the British National Health Service University

      Taylor, S.; Bell, E.; Grugulis, C. Irena; Storey, J. (2007)
      This report presents a detailed account of a major educational initiative in the British health service, the organisation with the largest workforce in Europe. The initiative was to set up a `university for the National Health Service¿, an aspiration that gave birth to `NHSU¿. Work began in 2001, but the project ended abruptly in 2005. This paper is based on the analysis of a series of in-depth interviews with senior managerial staff and a review of policy documents. Our analysis explores both the political and the organisational aspects of NHSU. We conclude that two aspects of the initiative are key to understanding its demise: its politically-led nature and its challenge to the idea of a `university¿. Finally, we attempt to draw conclusions from the experience of NHSU to inform other state-sponsored education and training interventions.
    • Institutional change in the Schumpeterian-Baumolian construct: power, contestability and evolving entrepreneurial interests

      Kalantaridis, Christos (2014)
      Baumol's hypothesis, i.e. that the allocation of entrepreneurial talent in productive, unproductive and destructive activities is determined by the rules of the game, is supported by a growing body of empirical research and underpins new avenues of research in entrepreneurial studies. However, Baumol's paper offers precious few insights, beyond policy action, regarding how change to the rules of the game can be effected, because it views institutions as endogenous. This paper sets out to address this gap through an extension of Schumpeterian–Baumolian construct. The paper argues that changing institutions is a contestable process: its outcome determined by the complex nexus of interests and power endowments of actors. Changing the outcome of this contestation is dependent on the emergence of new entrepreneurial groupings and/or the evolution of the power endowments or interests of existing ones. Two historical illustrations are used to support the hypothesis and of this study.
    • The institutional determinants of private equity involvement in business groups - The case of Africa

      Hearn, Bruce; Oxelheim, L.; Randøy, T. (2018-02)
      This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centered institutional-theoretic perspective in rationalizing institutional voids and the advantages of maintained governance by both business angels (BA) and venture capital (VC) private equity. Our findings reveal private equity retain higher post-IPO ownership in business group constituents compared to unaffiliated firms and that this is inversely moderated in the context of improving institutional quality – where this is particularly strong in case of foreign VC as opposed to domestic VC or BA. Our result adds to the literature on multifocal corporate governance mechanisms and the institutional determinants of private equity investment.
    • Institutional influences on board composition of international joint venture firms listing on emerging stock exchanges: Evidence from Africa

      Hearn, Bruce (2015-01)
      The attraction of blue-chip listings in emerging stock markets is a major policy initiative common across much of the developing world. In many cases however, local blue-chip firms are the result of foreign Multinational Enterprise (MNE) firms engaging with local indigenous partners to form an international joint venture (IJV). These are unique with bilateral governance structures underscoring co-ownership between partners of residual cash flows and assets of the IJV. Using a unique and comprehensive sample of 202 IPO firms from across the emerging African region evidence of both a pronounced internal as well as external role for IJV boards was found. Social and political legitimacy concerns dominate the external role of boards in particular. Increasing proportions of boards drawn from commercial and governmental social elites are associated with IJV IPO firms in high institutional quality while lower proportions of these elites are associated with civil code law jurisdictions rather than common law. Governmental elites are associated with country-level improvements in corruption control and political stability while commercial elites are only marginally associated with improvements in political stability, regulatory quality, rule of law and democratic voice and accountability measures.
    • Institutional Investor Sentiment and the Mean-Variance Relationship: Global Evidence

      Wang, Wenzhao; Duxbury, D. (2021-11)
      Although a cornerstone of traditional finance theory, empirical evidence in support of a positive mean-variance relation is far from conclusive, with the behavior of retail investors commonly thought to be one of the root causes of departures from this expected relationship. The behavior of institutional investors, conventionally thought to be sophisticated and rational, has recently come under closer scrutiny, including in relation to investor sentiment. Drawing together these two strands of literature, this paper examines the impact of institutional investor sentiment on the mean-variance relation in six regions, including Asia (excl. Japan), Eastern Europe, Eurozone, Japan, Latin America, and the US, and across thirtyeight markets. Empirical evidence supports the differential impact of institutional investor sentiment on the mean-variance relation (i.e., positive or negative), both across regions and across markets. In particular, for markets with cultural proneness to overreaction and a low level of market integrity institutional investor sentiment tends to distort the risk-return tradeoff.
    • Institutional investor sentiment, beta, and stock returns

      Wang, Wenzhao (2020-11)
      This paper examines the role of institutional investor sentiment in determination of the beta-return relation. Empirical evidence documents a positive (negative) beta-return relation over bearish (bullish) periods, implying that institutional investors can also be sentiment traders.
    • Institutional preferences, demand shocks and the distress anomaly

      Ye, Q.; Wu, Yuliang; Liu, J. (2019-01)
      Our paper examines the distress anomaly on the Chinese stock markets. We show that the anomaly disappears after controlling for institutional ownership. We propose two hypotheses. The growing scale of institutional investors and changes in institutional preferences can generate greater demand shocks for stocks with low distress risk than those with high distress risk, causing the former to outperform the latter. Consistent with our hypotheses, the growth of institutions explains the anomaly when the institutional market share increases rapidly. We also show that institutional preferences for stocks with low distress risk have significantly increased over time and changes in preferences also explain the anomaly. Finally, momentum trading and gradual incorporation of distress information cannot account for the anomaly.
    • Institutional reform and entry mode by foreign firms: The case of Jordan

      El Said, H.; McDonald, Frank (UMAR Institute of Macroeconomic Analysis (Ljubljana, Slovenia), 2002)
      This paper investigates the links between institutional systems and the entry mode of Multinational Corporations (MNCs) in developing and transition countries (DTCs). An assessment is made of the reasons for the continuing use of international joint ventures (IJVs) in countries that have undergone reforms intended to lead to the development of wholly owned subsidiaries. The paper argues that formal and informal institutional constraints in DTCs lead to high transaction and uncertainty costs for MNCs, and that the use of IJVs is a rational response to attempt to lower these high costs. The paper follows the literature suggesting that IJVs are normally a `second best¿ entry mode in terms of the potential for foreign direct investment (FDI) to contribute to the development of DTCs. The reform process in Jordan is used to illustrate how institutional systems, especially informal institutional constraints, lead to high transaction and uncertainty costs. In the case of Jordan, this occurred despite a series of four reform packages seeking to reduce the institutional barriers to effective business activities. Interviews of 28 foreign companies provide the basis for an empirical assessment of the importance of both formal and informal institutional constraints and infrastructure problems. The paper includes an outline of a future research agenda that seeks to generalise and develop the results from Jordan to other DTCs.
    • Institutional Voids, Economic Adversity, and Inter-firm Cooperation in an Emerging Market: The Mediating Role of Government R&D Support

      Adomako, Samuel; Amankwah-Amoah, J.; Debrah, Y.; Khan, Z.; Robinson, C.; Chu, Irene (Wiley, 2020)
      This article examines the mediating mechanism of the relationship between institutional voids (IVs) and inter-firm cooperation and the moderating role of economic adversity in the context of small and medium-sized enterprises (SMEs) based in emerging markets. The hypotheses are tested using time-lagged survey data from 214 SMEs from Ghana. The findings provide support for the hypotheses by showing that (1) IVs positively influence the use of government research and development (R&D) support, (2) the use of government R&D support mediates the relationship between IVs and inter-firm cooperation, and (3) economic adversity positively moderates the relationship between IVs and the use of government R&D support. The findings contribute to understanding the role of IVs in inter-firm cooperation. Implications for theory and practice are discussed.
    • Institutional voids, international learning effort and internationalization of emerging market new ventures

      Adomako, Samuel; Amankwah-Amoah, J.; Dankwah, G.O.; Danso, A.; Donbesuur, F. (2019-12)
      Much of the existing scholarly works portray institutional voids (IVs) in emerging economies as impeding forces against the development of new ventures. However, little attention has been paid to how such voids generate positive outcomes in emerging market new ventures. Drawing on the institutional theory, we propose IVs as crucial enablers of new venture internationalization. In addition, we investigate both how and when IVs enhance the degree to which new ventures internationalize by examining international learning effort (ILE) as a mediator and two domestic market environmental factors (i.e., environmental dynamism and competitive intensity) as important contingencies. We test our moderated mediation model using primary data gathered from 211 new ventures from Ghana. We found that ILE mediates the relationship between IVs and new venture internationalization and that both environmental dynamism and competitive intensity moderate the indirect relationship between home-country IVs and new venture internationalization. We discuss the theoretical and practical implications of this study.
    • Institutional works in scholarly networks: A rapprochement between agency and structure

      Park, Sang-Bum (2014-01-01)
      In an academic field, where does brand new idea come from? To understand how noble ideas emerge, this study elucidates how network brokers and high status actors contribute to the creation of knowledge institutions, by paying a specific attention to the interplay between institutional structure and an individual agency in academia. Although numerous scholars have been attempted to relieve the tensions around the agency versus structure debate, accurate explanations of interactive aspects between them are not well documented. To fill this void, this study suggests a conceptual model to explain the complementary and synergetic effects of network structure and agency on the knowledge innovation. In doing so, this study provide an answer to the question of why some actors often fail to obtain significant advantages from a privileged network position while others succeed.
    • An integrated artificial intelligence framework for knowledge creation and B2B marketing rational decision making for improving firm performance

      Bag, S.; Gupta, S.; Kumar, A.; Sivarajah, Uthayasankar (2021-01)
      This study examines the effect of big data powered artificial intelligence on customer knowledge creation, user knowledge creation and external market knowledge creation to better understand its impact on B2B marketing rational decision making to influence firm performance. The theoretical model is grounded in Knowledge Management Theory (KMT) and the primary data was collected from B2B companies functioning in the South African mining industry. Findings point out that big data powered artificial intelligence and the path customer knowledge creation is significant. Secondly, big data powered artificial intelligence and the path user knowledge creation is significant. Thirdly, big data powered artificial intelligence and the path external market knowledge creation is significant. It was observed that customer knowledge creation, user knowledge creation and external market knowledge creation have significant effect on the B2B marketing-rational decision making. Finally, the path B2B marketing rational decision making has a significant effect on firm performance.
    • An integrated model for m-banking adoption in Saudi Arabia

      Baabdullah, A.M.; Alalwan, A.A.; Rana, Nripendra P.; Patil, P.; Dwivedi, Y.K. (2019-04-01)
      Purpose The purpose of this paper is to identify and examine the most important factors that could predict the Saudi customer’s continued intention towards adoption of mobile banking. Design/methodology/approach The proposed conceptual model was based on the technology acceptance model (TAM) and task-technology fit (TTF) model. This is also expanded by considering two additional factors: perceived privacy and perceived security. By using a self-administered questionnaire, the data were collected from a convenience sample of Saudi banking customers from different parts of Saudi Arabia. Findings The main results based on structural equation modelling analyses supported the impact of perceived privacy, perceived security, perceived usefulness and TTF on the customers’ continued intention to use mobile banking. Research limitations/implications The moderation influence of the demographic factors (i.e. age, gender, income level, educational level) was not tested. The data were also collected using a self-report questionnaire; however, it would be more accurate to utilise more statistics from the bank database about the users of m-banking. Originality/value This study represents a worthy attempt to test such novel technology (m-banking) in the KSA where there is a scarcity of literature. A considerable theoretical contribution was also made by integrating the TTF model with the TAM in addition to consider privacy and security in one single model. Moreover, considering both perceived privacy and security in the current model creates an accurate picture about the adoption of m-banking especially as there are a limited number of m-banking studies that have considered privacy and security alongside the TTF model and TAM in the same model.
    • Integrated Reporting in UK Higher Education Institutions

      Adhikariparajul, M.; Hassan, A.; Fletcher, M.; Elamer, Ahmed A. (2019-11-04)
      This paper examines trends in the content of reporting within 135 UK Higher Education Institutions (HEIs). It explores the extent to which Integrated Reporting (IR) content elements, reflecting integrated thinking, are disclosed voluntarily and whether HEI specific features influence the resulting disclosures. Existing IR guidelines given by the International Integrated Reporting Council (IIRC) and the adoption of content analysis have provided the opportunity to examine the trend and extent of IR content elements associated in HEI corporate reports. The evidence was obtained from 405 UK HEI annual reports covering the period 2014-2016. The results indicate a significant increase in the number of IR content elements embedded in HEI annual reports. The HEI specific characteristics examined, such as a) the establishment of HEI (before or after 1992), b) adoption of IR framework and c) size of HEI, are all significantly and positively associated with IR content elements disclosure. This paper argues that institutional theory, isomorphism and isopraxism are relevant for explaining the changes in the contents of HEI annual reports. The findings also suggest that universities are beginning to adopt an integrated thinking approach to the reporting of their activities. The study is based on IR content elements only and could be extended to include the fundamental concepts and basic principles of the IR framework. There are other factors that have a potentially crucial influence on HEI core activities (such as teaching and learning research and internationalisation) which have been omitted from this study. The findings will allow policymakers to evaluate the extent to which integrated thinking is taking place and influencing the UK HEI sector in the selection and presentation of information. A further implication of the findings is that an appropriate a sector-wide enforcement and compliance body, for instance, the British Universities Finance Directors Group (BUFDG), may consider developing voluntary IR guidance in a clear, consistent, concise and comparable format. Also, it may pursue regulatory support for this guidance. In doing so, it may monitor the compliance and disclosure levels of appropriate IR requirements. Within such a framework, IR could be used to assist HEIs to make more sustainable choices and allow stakeholders to better understand aspects of HEI performance. The research has implications for society within and beyond the unique UK HEI sector. Universities are places of advanced thinking and can lead the way for other sectors by demonstrating the potential of integrated thinking to create a cohesive wide-ranging discourse and create engagement among stakeholder groups. Specifically, IR builds on the strong points of accounting, for instance, robust quantitative evidence collecting, relevance, reliability, materiality, comparability and assurability, to explain the sustainability discourse into a ‘‘language’’ logical to HEIs organisational decision-makers. Consequently, IR may generate better visibility and knowledge of the financial values of exploiting capitals (financial, intellectual, human, manufactured, social, and natural) and offer a multifaceted approach to reassess HEIs organisational performance in various sectors that support the growth of integrated thinking.