International Journal of Emerging Markets最新文献

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Run, not walk: advanced red queen effect and mutual forbearance effect in multimarket contact 跑,而不是走:多市场接触中的高级红娘效应和相互忍让效应
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-28 DOI: 10.1108/ijoem-06-2021-0891
Yu-Ching Chiao, Chun-Chien Lin, Yu-Chen Chang
{"title":"Run, not walk: advanced red queen effect and mutual forbearance effect in multimarket contact","authors":"Yu-Ching Chiao, Chun-Chien Lin, Yu-Chen Chang","doi":"10.1108/ijoem-06-2021-0891","DOIUrl":"https://doi.org/10.1108/ijoem-06-2021-0891","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study explores the evolutionary relationship between multimarket contact (MMC) and competitive actions among multinational corporations (MNCs). It aims to enhance the understanding of international market competition by incorporating insights into dynamic competition and parent–subsidiary relationships.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A structured content analysis was used to identify the competitive actions of global shipping liners. The dataset includes 8,204 actions identified across nine global arenas. Data were collected from 6,553 monthly news articles on Alphaliner. The period covered is from January 1, 2015, to June 30, 2023.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results indicate that a higher degree of MMC leads to greater competitive aggressiveness, supporting the combination of mutual forbearance and the Red Queen effect. Additionally, market importance triggers the mutual forbearance effect, whereas competitive rivalry is weaker for overlapping cross-market contacts. Furthermore, local competitive intensity increases MNCs' contact and echoes the Red Queen effect, especially for subsidiaries facing increasing pressure from local responsiveness.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>Limitations include reliance on Alphaliner, potential inaccuracies from proxy variables, and unmeasured headquarters–subsidiary interactions. Future research should explore other industries and extend the study period for broader applicability and generalization.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>By interlacing mutual forbearance with the Red Queen effect within a coopetition framework, managers can devise strategies to balance competition and collaboration, thereby ensuring long-term viability and growth in global markets.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study extends the concept of MMC to the context of global shipping liners, a previously underexplored sector. Unlike earlier research, this study empirically examines MMC dynamics globally and integrates mutual forbearance and the Red Queen effect.</p><!--/ Abstract__block -->","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Revisiting oil-stock nexus in the time of health crisis: a wavelet approach 在健康危机时期重新审视石油与股票的关系:一种小波方法
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-20 DOI: 10.1108/ijoem-12-2021-1864
Pamphile Mezui-Mbeng, Eugene Kouassi, Afees Salisu, Loukou Landry Eric Yobouet
{"title":"Revisiting oil-stock nexus in the time of health crisis: a wavelet approach","authors":"Pamphile Mezui-Mbeng, Eugene Kouassi, Afees Salisu, Loukou Landry Eric Yobouet","doi":"10.1108/ijoem-12-2021-1864","DOIUrl":"https://doi.org/10.1108/ijoem-12-2021-1864","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The paper aims at analyzing the co-movements between stock returns and oil prices (West Texas Intermediate, Brent) controlling or not for COVID-19.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>It uses continuous wavelet transforms and wavelet coherence over the period July 19, 2019 to August 16, 2021 based on daily data. Continuous wavelet transforms provide an over complete representation of stock returns signals by letting the translation and scale parameters of the wavelets vary continuously.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>There are not significant evidence supporting the fact that the COVID-19 has altered the relationship between stock returns and oil prices except perhaps in the case of South Africa. In fact, Southern African Development Community stock markets react more to oil prices than to health shock such as the COVID-19.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The findings of the study are original and have not been published anywhere prior.</p><!--/ Abstract__block -->","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rhetorical strategies in the climate change disclosures of Bangladeshi banking companies 孟加拉国银行公司披露气候变化信息的修辞策略
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-20 DOI: 10.1108/ijoem-08-2023-1365
Dewan Mahboob Hossain, Mohammed Mehadi Masud Mazumder, Md. Saiful Alam
{"title":"Rhetorical strategies in the climate change disclosures of Bangladeshi banking companies","authors":"Dewan Mahboob Hossain, Mohammed Mehadi Masud Mazumder, Md. Saiful Alam","doi":"10.1108/ijoem-08-2023-1365","DOIUrl":"https://doi.org/10.1108/ijoem-08-2023-1365","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The main objective of this article is to explore the rhetorical persuasive strategies in the climate change-related disclosures of the annual reports of Bangladeshi banking companies.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>To fulfil this objective, content and rhetorical analyses are conducted on the climate change-related disclosures in the annual reports of Bangladeshi banks. The analysis is interpreted with the help of Aristotle’s rhetorical appeals (ethos, logos and pathos).</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Evidence suggests that Bangladeshi banks disclose climate change-related issues in annual reports. These issues include demonstrating a genuine concern for climate change and exhibiting commitment to green finance and investment, paper and energy conservation, tree plantation, biodiversity and climate change risk funds. They also underscore challenges linked to carbon emissions, air pollution, and natural disasters. These disclosures are persuasive, and rhetorical strategies such as ethos, logos, and pathos are evident. However, the disclosures lacked consistency and comparability because of the absence of reporting regulations and a prescribed framework.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study informs managers and policymakers about climate change disclosures in Bangladesh, particularly within the banking industry. The research suggests the need for improved reporting consistency and comparability, potentially achieved through standardised climate change reporting guidelines and mandatory requirements.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper’s uniqueness lies in its application of Aristotle’s rhetorical triangle to enhance our understanding of how banking companies in a developing economy strategically employ climate change-related disclosures to influence readers. Rhetorical analysis is limitedly used by accounting scholars in analysing corporate climate-change disclosures.</p><!--/ Abstract__block -->","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142224005","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Exploring panic buying as a situational response – the role of fear, media exposure and context-specific paranoia 探讨恐慌性购买作为一种情境反应--恐惧、媒体曝光和特定情境妄想症的作用
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-13 DOI: 10.1108/ijoem-09-2022-1407
Matej Nakić, Mirna Koričan Lajtman, Goran Oblaković
{"title":"Exploring panic buying as a situational response – the role of fear, media exposure and context-specific paranoia","authors":"Matej Nakić, Mirna Koričan Lajtman, Goran Oblaković","doi":"10.1108/ijoem-09-2022-1407","DOIUrl":"https://doi.org/10.1108/ijoem-09-2022-1407","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>Drawing on prospect theory, terror management theory, and social influence theories, this study explores the phenomenon of panic buying amid the COVID-19 pandemic, namely its situational antecedents such as fear of COVID-19, increased media exposure to COVID-19-related news, and context-specific paranoia. It offers insight into the situational nature of panic buying, contrary to the purely dispositional/trait conceptualization of irrational spending, usually depicted through the phenomenon of compulsive buying.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This is a cross-sectional study. An online questionnaire was used for data collection from 621 Croatian citizens. The questionnaire features a series of validated instruments designed to measure compulsive buying, fear of COVID-19, and context-specific paranoia. The media exposure scale (MES) was also specifically developed and empirically tested for the purpose of this research.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results suggest that individuals who exhibited greater fear of COVID-19 while also experiencing increased exposure to COVID-19-related news were more likely to engage in panic buying. This connection has remained significant even after controlling for compulsive buying tendencies, suggesting that panic buying witnessed during the coronavirus pandemic was a situational phenomenon, not strictly dispositional. This establishes the fear of COVID-19 and increased exposure to pandemic-related news content as situational antecedents to panic buying. After controlling for compulsive buying, this paper does not demonstrate a significant connection between context-specific paranoia and panic buying. Furthermore, context-specific paranoia does not mediate the relationship between media exposure to pandemic-related content and panic buying, whereas the fear of COVID-19 significantly mediates the same relationship.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study recognizes people's panic behavior amid the COVID-19 pandemic as a byproduct of a situational, reactive process – not a psychopathological one. Furthermore, it recognizes media sensationalism and the audience's impaired capacity for rational spending as major risk factors preceding the event of panic buying.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study proposes a novel conceptual framework of irrational spending amid crises such as COVID-19 pandemic, introducing the differentiation between the situational nature of the phenomenon (panic buying), thereby separating it from its previous dispositional operationalizations (hoarding, compulsive buying).</p><!--/ Abstract__block -->","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141944122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of social embeddedness on SMEs' proactive environmental sustainability: a comparison between Italy and Russia 社会嵌入性对中小企业积极主动的环境可持续性的影响:意大利与俄罗斯之间的比较
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-12 DOI: 10.1108/ijoem-10-2023-1574
Aleksandra Sidorenko, A. Veselova, D. Dikova
{"title":"The impact of social embeddedness on SMEs' proactive environmental sustainability: a comparison between Italy and Russia","authors":"Aleksandra Sidorenko, A. Veselova, D. Dikova","doi":"10.1108/ijoem-10-2023-1574","DOIUrl":"https://doi.org/10.1108/ijoem-10-2023-1574","url":null,"abstract":"PurposeThe paper analyzes socially embedded antecedents of sustainability and compares the results between two distinct contexts of Russia and Italy. Specifically, the paper identifies which forms of embeddedness (network, family and virtual) are associated with proactive environmental sustainability in SMEs.Design/methodology/approachThe data for the study were gathered from the World Bank Enterprise Survey dataset and include observations of 1,106 Russian SMEs and 663 Italian SMEs. Given the dichotomous nature of the dependent variable “proactive environmental sustainability”, the study utilizes a binary logistic regression and test regression models on the Russian and Italian data.FindingsNetwork embeddedness positively influences proactive environmental sustainability among SMEs in Italy, but not in Russia. Value chain environmental pressure positively impacts proactive environmental sustainability among SMEs in Russia and Italy. Network embeddedness negatively moderates the relationship between value chain environmental pressure and proactive sustainability in Russia, but not in Italy. Virtual embeddedness positively impacts proactive environmental sustainability practices among SMEs in Russia but not in Italy, while family embeddedness positively impacts proactive environmental sustainability practices in Italy, but not in Russia.Originality/valueWe employ social embeddedness theory to determine to what extent certain forms of embeddedness contribute to proactive environmental sustainability among SMEs originating from two very distinct national contexts, a developed economy and a transition (emerging) economy. Our comparative approach allows us to challenge the “traditional” assumptions about SMEs’ sustainability antecedents, by showing the key role of different forms of social embeddedness.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141919545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
FDI-related meritocratic elite and income inequality in post-communist EU countries 后共产主义欧盟国家中与外国直接投资相关的精英和收入不平等问题
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-12 DOI: 10.1108/ijoem-02-2022-0280
Novica Supic, Kosta Josifidis, S. Bodor
{"title":"FDI-related meritocratic elite and income inequality in post-communist EU countries","authors":"Novica Supic, Kosta Josifidis, S. Bodor","doi":"10.1108/ijoem-02-2022-0280","DOIUrl":"https://doi.org/10.1108/ijoem-02-2022-0280","url":null,"abstract":"PurposeThe aim of this paper is to shed more light on the foreign direct investment (FDI) - income inequality nexus in the post-communist EU countries. Special attention is paid to the emergence of a new meritocratic elite related to foreign capital that tends to replace the old elite inherited from the transition period at the top end of the income distribution.Design/methodology/approachThe macroeconomic model of the relationship between income inequality and FDI is estimated by using the generalized method of moments (GMM) technique. The sample includes 10 post-communist EU member states during the period 1993 to 2020.FindingsThe results suggest that the concentration of the highest level of human capital in foreign-owned enterprises, in the institutional environment under which foreign-owned enterprises are less numerous and pay a higher wage than domestic ones, contributes to the change of the effect of FDI and human capital on income distribution from an initial decrease to a later increase in income inequality.Originality/valueThis paper adds to the existing literature by exploring the distributive impacts of sectoral reallocation of FDI inflows from manufacturing to service sectors from the perspective of heterodox economics. It specifically examines how this shift has facilitated the emergence of a new meritocratic elite associated with foreign capital, which in turn diminishes the overall anti-inequality effect of FDI in the post-communist new EU countries.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141919751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
FDI-related meritocratic elite and income inequality in post-communist EU countries 后共产主义欧盟国家中与外国直接投资相关的精英和收入不平等问题
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-12 DOI: 10.1108/ijoem-02-2022-0280
Novica Supic, Kosta Josifidis, S. Bodor
{"title":"FDI-related meritocratic elite and income inequality in post-communist EU countries","authors":"Novica Supic, Kosta Josifidis, S. Bodor","doi":"10.1108/ijoem-02-2022-0280","DOIUrl":"https://doi.org/10.1108/ijoem-02-2022-0280","url":null,"abstract":"PurposeThe aim of this paper is to shed more light on the foreign direct investment (FDI) - income inequality nexus in the post-communist EU countries. Special attention is paid to the emergence of a new meritocratic elite related to foreign capital that tends to replace the old elite inherited from the transition period at the top end of the income distribution.Design/methodology/approachThe macroeconomic model of the relationship between income inequality and FDI is estimated by using the generalized method of moments (GMM) technique. The sample includes 10 post-communist EU member states during the period 1993 to 2020.FindingsThe results suggest that the concentration of the highest level of human capital in foreign-owned enterprises, in the institutional environment under which foreign-owned enterprises are less numerous and pay a higher wage than domestic ones, contributes to the change of the effect of FDI and human capital on income distribution from an initial decrease to a later increase in income inequality.Originality/valueThis paper adds to the existing literature by exploring the distributive impacts of sectoral reallocation of FDI inflows from manufacturing to service sectors from the perspective of heterodox economics. It specifically examines how this shift has facilitated the emergence of a new meritocratic elite associated with foreign capital, which in turn diminishes the overall anti-inequality effect of FDI in the post-communist new EU countries.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141919109","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of social embeddedness on SMEs' proactive environmental sustainability: a comparison between Italy and Russia 社会嵌入性对中小企业积极主动的环境可持续性的影响:意大利与俄罗斯之间的比较
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-12 DOI: 10.1108/ijoem-10-2023-1574
Aleksandra Sidorenko, A. Veselova, D. Dikova
{"title":"The impact of social embeddedness on SMEs' proactive environmental sustainability: a comparison between Italy and Russia","authors":"Aleksandra Sidorenko, A. Veselova, D. Dikova","doi":"10.1108/ijoem-10-2023-1574","DOIUrl":"https://doi.org/10.1108/ijoem-10-2023-1574","url":null,"abstract":"PurposeThe paper analyzes socially embedded antecedents of sustainability and compares the results between two distinct contexts of Russia and Italy. Specifically, the paper identifies which forms of embeddedness (network, family and virtual) are associated with proactive environmental sustainability in SMEs.Design/methodology/approachThe data for the study were gathered from the World Bank Enterprise Survey dataset and include observations of 1,106 Russian SMEs and 663 Italian SMEs. Given the dichotomous nature of the dependent variable “proactive environmental sustainability”, the study utilizes a binary logistic regression and test regression models on the Russian and Italian data.FindingsNetwork embeddedness positively influences proactive environmental sustainability among SMEs in Italy, but not in Russia. Value chain environmental pressure positively impacts proactive environmental sustainability among SMEs in Russia and Italy. Network embeddedness negatively moderates the relationship between value chain environmental pressure and proactive sustainability in Russia, but not in Italy. Virtual embeddedness positively impacts proactive environmental sustainability practices among SMEs in Russia but not in Italy, while family embeddedness positively impacts proactive environmental sustainability practices in Italy, but not in Russia.Originality/valueWe employ social embeddedness theory to determine to what extent certain forms of embeddedness contribute to proactive environmental sustainability among SMEs originating from two very distinct national contexts, a developed economy and a transition (emerging) economy. Our comparative approach allows us to challenge the “traditional” assumptions about SMEs’ sustainability antecedents, by showing the key role of different forms of social embeddedness.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141919021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Entrepreneurial ecosystem performance in advanced and emerging economies: the role of contextual factors 发达经济体和新兴经济体的创业生态系统绩效:环境因素的作用
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-09 DOI: 10.1108/ijoem-08-2023-1322
Anja Tekic, Ekaterina Kurnosova
{"title":"Entrepreneurial ecosystem performance in advanced and emerging economies: the role of contextual factors","authors":"Anja Tekic, Ekaterina Kurnosova","doi":"10.1108/ijoem-08-2023-1322","DOIUrl":"https://doi.org/10.1108/ijoem-08-2023-1322","url":null,"abstract":"PurposeThe purpose of this study is to delineate the differences in how contextual factors (i.e. funding, market reach and talent) influence performance of entrepreneurial ecosystems in advanced and emerging economies.Design/methodology/approachBuilding upon the biological perspective on entrepreneurial ecosystems, in this study we conduct the fuzzy-set Qualitative Comparative Analysis (fsQCA) on the sample of 100 entrepreneurial ecosystems across 25 advanced economies and 21 emerging economies. The fsQCA allows us to embrace the causal complexity that characterizes the relationship between multiple contextual factors and ecosystem performance in countries with different levels of economic development.FindingsThe results elucidate how the level of a country’s economic development influences the interplay of contextual factors and their collective impact on the performance of entrepreneurial ecosystems across advanced and emerging economies.Practical implicationsOur findings provide useful guidance for practitioners and policymakers aiming to cultivate conducive environments for nurturing new ventures within local ecosystems, which will stimulate the economic growth of the regions and narrow the gap between advanced and emerging economies.Originality/valueThis study delineates the complex interactions of key contextual factors and their joint impact on ecosystem performance in emerging economies, in comparison to ecosystems in advanced economies. By looking into differences of antecedents of high and low performance of ecosystems embedded in countries with distinctive level of economic development, this study goes beyond prior research that primarily focused on singular countries or regions.","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141924507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Relative, absolute or combined strength momentum strategies: what works for India? 相对、绝对或综合实力动量战略:什么对印度有效?
IF 2.7 4区 管理学
International Journal of Emerging Markets Pub Date : 2024-08-05 DOI: 10.1108/ijoem-09-2023-1518
Sanjay Sehgal, Asheesh Pandey, Swapna Sen
{"title":"Relative, absolute or combined strength momentum strategies: what works for India?","authors":"Sanjay Sehgal, Asheesh Pandey, Swapna Sen","doi":"10.1108/ijoem-09-2023-1518","DOIUrl":"https://doi.org/10.1108/ijoem-09-2023-1518","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>In the present study, we investigate whether enhanced momentum strategies outperform price momentum strategies and if they show greater resilience and stability under adverse market conditions. We also examine if such strategies are explained by prominent asset pricing models or are a result of behavioral mispricing.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Data consist of the equity shares of all companies listed on National Stock Exchange over the study period. To check the efficacy of enhanced momentum over price momentum, six momentum strategies have been designed and their raw as well as risk-adjusted returns using multi-factor models have been observed. Behavioral mispricing has been examined by constructing an investor attention index. Finally, few robustness tests have been performed to confirm the results.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>We find that an enhanced momentum strategy which combines relative and absolute strength momentum outperforms conventional price momentum strategy in India. We also demonstrate that rational pricing models are not able to explain momentum profits for any of the strategies. Finally, we observe that investor overreaction is the possible explanation of momentum profits in India. Thus, our results confirm the role of behavioral mispricing in explaining momentum returns.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Our research is the first major attempt to study enhanced momentum strategies in the Indian context. We experiment with several new enhanced momentum strategies which have not been explored in prior literature. The findings have strong implications for global portfolio managers who wish to design profitable trading strategies.</p><!--/ Abstract__block -->","PeriodicalId":47381,"journal":{"name":"International Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":2.7,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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