scholarly journals Beyond Agency Theory: Value Creation and the Role of Cognition in the Relationship Between Entrepreneurs and Venture Capitalists

2010 ◽  
pp. 31-43 ◽  
Author(s):  
Peter Wirtz
Keyword(s):  
Agency Theory ◽  
Value Creation ◽  
Venture Capitalists ◽  
The Relationship

Birth mode of family firms, family entering time and R&D investment: evidence from China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Zulfiqar ◽  
Shihua Chen ◽  
Muhammad Usman Yousaf
Keyword(s):  
Agency Theory ◽  
Family Firms ◽  
Family Firm ◽  
Research Database ◽  
Content Type ◽  
Firm Birth ◽  
The Relationship ◽  
D Investment ◽  
Moderating Role

PurposeOn the basis of behavioural agency theory and resource-based view, this study investigates the influence of family firm birth mode (i.e. indirect-established or direct-established), family entering time on R&D investment and the moderating role of the family entering time on the relationship between birth mode and R&D investment.Design/methodology/approachThe authors collected 2,990 firm-year observations from family firms listed on A-share in China from 2008 to 2016 in the China Stock Market and Accounting Research database. They used pooled regression for data analysis and Tobit regression for robustness checks.FindingsIndirect-established family firms show more inclined behaviour towards R&D investment than direct-established counterparts. Family entering time positively affects the R&D investment of family firms. Moreover, family entering time plays a significant moderating role in the relationship between family firm birth mode (i.e. indirect-established or direct-established) and R&D investment.Originality/valueTo the best of the authors’ knowledge, this work is a pioneering study that introduced the concept of family firm birth mode (i.e. indirect-established or direct-established) and family entering time. This work is novel because it differentiated family firms according to their birth modes, an approach which is a contribution to the existing literature of family firms. Moreover, the investigation of the moderating role of family entering time has also produced notable results that help understand the impact of family entering time on different types of family firms. The interpretation of outcomes according to behavioural agency theory also produced useful insights for future researchers as well as for policymakers.

Drivers for voluntary intellectual capital reporting based on agency theory

2019 ◽  
Vol 20 (2) ◽  
pp. 264-281 ◽  
Author(s):  
Viktoria Goebel
Keyword(s):  
Propensity Score ◽  
Agency Theory ◽  
Propensity Score Matching ◽  
Intellectual Capital ◽  
Integrated Reporting ◽  
Content Type ◽  
The Relationship ◽  
Practical Implications ◽  
Management Report

PurposeThe purpose of this paper is to investigate the drivers for voluntary intellectual capital (IC) reporting based on agency theory. This study responds to calls for critical investigations of IC reporting utilising Goebel’s (2015a) IC measuring approach to investigate the role of IC value and mispricing for IC reporting.Design/methodology/approachA mandatory management report offers a unique research setting in Germany. The content analysis results of 428 German management reports are used in a regression analysis with leverage, ownership diffusion, IC value and mispricing. Additionally, a propensity score matching approach examines the relationship between IC reporting and IC value.FindingsThe regression results show that companies use voluntary IC reporting to encounter mispricing. IC reporting is negatively associated with leverage, whereas ownership diffusion and IC value show no significant results. The propensity score matching approach is also not significant.Research limitations/implicationsThis study contributes to strengthening and testing agency theory for IC reporting. As mispricing is identified to play an important role for IC reporting, IC research should account for mispricing.Practical implicationsThe findings suggest to reopen a discussion on the declared aims of the German management report and the international integrated reporting model to provide information on value creation, as IC value shows no link to IC reporting.Originality/valueThis study innovatively links IC reporting to IC value and mispricing to investigate drivers for voluntary IC reporting.

scholarly journals From Culture 1.0 to Culture 3.0: Three Socio-Technical Regimes of Social and Economic Value Creation through Culture, and Their Impact on European Cohesion Policies

2018 ◽  
Vol 10 (11) ◽  
pp. 3923 ◽  
Author(s):  
Pier Sacco ◽  
Guido Ferilli ◽  
Giorgio Tavano Blessi
Keyword(s):  
Cultural Production ◽  
Value Creation ◽  
Cultural Policy ◽  
Policy Design ◽  
Economic Value ◽  
Cultural Participation ◽  
Social Value Creation ◽  
Open Question ◽  
The Relationship

We develop a new conceptual framework to analyze the evolution of the relationship between cultural production and different forms of economic and social value creation in terms of three alternative socio-technical regimes that have emerged over time. We show how, with the emergence of the Culture 3.0 regime characterized by novel forms of active cultural participation, where the distinction between producers and users of cultural and creative contents is increasingly blurred, new channels of social and economic value creation through cultural participation acquire increasing importance. We characterize them through an eight-tier classification, and argue on this basis why cultural policy is going to acquire a central role in the policy design approaches of the future. Whether Europe will play the role of a strategic leader in this scenario in the context of future cohesion policies is an open question.

scholarly journals The Role of Customer-task Fit between Service Interaction and Value Co-Creation：Evidence from China

2021 ◽  
Vol 29 (6) ◽  
pp. 0-0
Keyword(s):  
Value Creation ◽  
Information Exchange ◽  
Underlying Mechanism ◽  
Mediation Model ◽  
Person Environment Fit ◽  
Service Interaction ◽  
Serial Mediation ◽  
Relationship Of ◽  
The Relationship

As a new value creation phenomenon, value co-creation has been widely concerned by academia and industry. Companies begin to invest significant resources and build information exchange platform to interact with customers in order to gain competitive advantage. However, prior research has ignored the underlying mechanism by which service interaction might improve value co-creation. Based on the person-environment fit theory, an attempt is made to investigate the intervening role of customer-task fit, which include demand-ability fit and needs-supply fit to explain the above linkage. With 509 customer questionnaires collected from China, the results showed that service interaction has both direct and indirect effect on value co-creation, and needs-supply fit partially mediate the relationship of service interaction and value co-creation. In addition, results supported the serial mediation model where service interaction was found to exercise its influence on value co-creation via demand-ability fit and needs-supply fit in a sequential manner.

scholarly journals Capitalism with a Purpose: Can Business Ethics Fight Inequality?

2021 ◽  
Vol 12 (1Sup1) ◽  
pp. 182-199
Author(s):  
Rosa Fioravante ◽  
Mara Del Baldo
Keyword(s):  
Business Ethics ◽  
Value Creation ◽  
Social Role ◽  
Current System ◽  
The Great Recession ◽  
Business Studies ◽  
The Social ◽  
Global Problems ◽  
The Relationship

Economic crises - such as the Great Recession of 2008 or the 2020 crisis triggered by the Covid-19 pandemic - have always represented an opportunity to address the relationship between macroeconomic variables and business and society’s reactions to them. Indeed, negative economic conjuncture, slump and stagnation, represent a challenge and may elicit the opportunity to rethink the role of business in tackling systemic global problems of the current system - such as persisting and raising inequalities and environmental unsustainability – by focusing on Business Ethics both as a theory and a practice. Accordingly, the present work aims at shedding light on the link between the systematic production of inequality within the current economic system and the opportunities for entrepreneurs and managers to significantly reduce it by engaging in business ethics practices. For this purpose, the theoretical framework proposed rests on a step “back” to the discussion of the relation between economic sphere and society, particularly when addressing the issue of value creation/extraction and a step “forward” in the discussion on the purpose of the enterprise and the social role of the entrepreneur. In doing so, three main issues will be addressed: VALUE CREATION - the role of the enterprise in value creation between capital and labour; RESPONSIBILITY - responsible vs irresponsible capitalism; SOCIAL ACTOR - the conception of the enterprise as a social rather than only and economic actor. Bridging perspectives coming from economics, business studies and economic sociology, this paper depicts a robust theoretical and conceptual framework to be used for further empirical research.

scholarly journals The Role of Customer-Task Fit Between Service Interaction and Value Co-Creation

2021 ◽  
Vol 29 (6) ◽  
pp. 1-15
Author(s):  
Liang Hong ◽  
Hongyan Yu ◽  
Yubing Yu ◽  
Peipei Liang ◽  
Junjie Xu
Keyword(s):  
Value Creation ◽  
Information Exchange ◽  
Underlying Mechanism ◽  
Mediation Model ◽  
Person Environment Fit ◽  
Service Interaction ◽  
Serial Mediation ◽  
Relationship Of ◽  
The Relationship

As a new value creation phenomenon, value co-creation has been widely concerned by academia and industry. Companies begin to invest significant resources and build information exchange platform to interact with customers in order to gain competitive advantage. However, prior research has ignored the underlying mechanism by which service interaction might improve value co-creation. Based on the person-environment fit theory, an attempt is made to investigate the intervening role of customer-task fit, which include demand-ability fit and needs-supply fit to explain the above linkage. With 509 customer questionnaires collected from China, the results showed that service interaction has both direct and indirect effect on value co-creation, and needs-supply fit partially mediate the relationship of service interaction and value co-creation. In addition, results supported the serial mediation model where service interaction was found to exercise its influence on value co-creation via demand-ability fit and needs-supply fit in a sequential manner.

scholarly journals Does CEO power matter for the performance of retrenchment strategy?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rayenda Khresna Brahmana ◽  
Hui Wei You ◽  
Maria Kontesa
Keyword(s):  
Firm Performance ◽  
Agency Theory ◽  
Ceo Power ◽  
Resource Based View ◽  
Content Type ◽  
Emerging Country ◽  
The Relationship ◽  
Circulation Theory ◽  
Moderating Role

PurposeThis research aims to examine the moderating role of CEO power on the relationship between retrenchment strategy and firm performance by framing the relationship under an agency theory, and power circulation theory.Design/methodology/approachThis study focuses on a sample of 319 non-financial public listed companies in Malaysia from the year 2011–2016 and estimates the model under two-step GMM panel regression to eliminate the endogeneity issue.FindingsThe results show that the retrenchment strategy increased firm performance. Meanwhile, greater CEO power changes that retrenchment effect into increased performance. This study also indicates the CEO power strengthens the relationship between firm performance and retrenchment. However, CEO power does not have any effect on the performance of low retrenchment, and the performance of big firm size.Research limitations/implicationsThe findings show that the higher CEO power cause higher firm performance and higher retrenchment. This research suggests that CEO power can make retrenchment strategy works and the decision made can affect the firm performance significantly.Originality/valueThis study examines the effect of CEO power on the performance of retrenchment strategy implementation by contesting agency theory, power circulation theory, and resource-based view theory within the emerging country context.

The Impact of International Entrepreneurial Orientation on the Performance of SMEs in Qatar: The Mediating Role of Degree of Internationalization

2021 ◽  
Vol 12 (3) ◽  
pp. 2939-2947
Author(s):  
Abdulmohsin Abdulla M Alyafei Et.al
Keyword(s):  
Value Creation ◽  
Entrepreneurial Orientation ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Managerial Implication ◽  
Mediating Role ◽  
The Impact ◽  
The Relationship

The main purpose of the current study is to investigate the impact of the impact of international Entrepreneurial orientation on the performance of SMEs in QATAR. Additionally, the study has investigated the mediating role of the degree of internationalisation in the relationship between the international Entrepreneurial orientation on the performance of SMEs in Qatar. The present study used stratified sampling technique. The study used Smart PLS-SEM, which is Smart Partial Least Square Structural EquationModeling (SEM) 3.2.6 version. EO has been indicated to improve organisational competitiveness which leads to value creation and eventually improved organisational performance. The findings indicate that the growth performance of SMEs depends on the ability of an entrepreneur to allocate the strategic limited resources and adapt to changes by setting up proper firm orientation. Successful processes will only be achievable if sufficiently skilled and motivated employees are equipped with precise and current information. The findings of this study have presented important managerial implication and contribution to studies on entrepreneurial orientation of SME firms in Qatar.

scholarly journals The study of the relationship between value creation and customer loyalty with the role of trust moderation and customer satisfaction in Sari hospitals

10.19082/4474 ◽  
2017 ◽  
Vol 9 (6) ◽  
pp. 4474-4478 ◽  
Author(s):  
Zienolabedin Rahmani ◽  
Mansour Ranjbar ◽  
Ali Asgar Nadi Gara ◽  
Mohammad Ali Heidari gorji
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Value Creation ◽  
The Relationship
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