Integrated market and nonmarket strategies: Empirical evidence from the S&P 500 firms’ climate strategies

Firms with well-formulated competitive market strategies could still fail due to their lack of effective nonmarket strategy. Climate change poses significant threats to firms and presents firms’ need to develop nonmarket strategy integrated with market strategy. Relying on the unique dataset of US S&P 500 firms’ responses to climate change, this study seeks to ask why some firms attempt to engage in climate policy making, while others do not do so. The results found that firms with organizational resources and capabilities underlying their carbon market strategy are more likely to support mandatory climate policy. It sheds light on the significance of integrated market and nonmarket strategies, particularly when business opportunities are controlled more by governments than by markets.

The evolutionary and ecological perspectives on organizational form, strategy and performance: evidence from privatized firms in China

Purpose This study aims to examine how evolutionary and ecological forces shape the market strategy and performance of firms after their organizational form was changed by exogenous shock. Design/methodology/approach Hypotheses are developed based on both evolutionary and ecological perspectives and tested using fixed effect logistics models and a sample of 3,110 firms that were privatized during 1998–2007. Findings I find that once the organizational form of firms is changed, the market strategy of organizations is shaped by the population density of their old and new organizational forms in their existing market. Moreover, such a market strategy enhances the survival chance of firms. Originality/value This study contributes to organizational evolution literature by unpacking the evolution process when exogeneous shock to organizational form takes place. It advances both evolutionary economics and organization ecology theory through integrating them to understand the evolution process of organizations. This study also contributes to the privatization literature through examining the ecological forces that shape the restructuring strategy of firms after privatization and the performance implications of such restructuring.

The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies

The ability to innovate is essential for achieving a competitive position, and digital innovations have become one of the main drivers of competitive advantage. The factors that affect the degree of innovation (innovation efforts, competitive priorities, market strategy, the internal organisational atmosphere) impact the financial performance of insurance companies considering the market conditions. In order to shed some light on that research gap in post-transition countries, survey research has been conducted on a sample of insurance companies in the Republic of North Macedonia. The results obtained from the structural equation modelling analysis, which seeks to determine the structural relationship between the measured variables and the latent constructions, reveal positive effects of innovation performance on the profitability of insurance companies.

European’s Union Open Science Policy as a global benchmark for Ukraine: legal environment

Keywords: Open Science, EOSC, intellectual property, scientific researches, COVID-19 pandemic, UA-EU Association, Digital Europe The article provides an analysis of the EU practices inthe field of development and implementation on the Open Science Policy, elaboration ofthe European Open Science Cloud (EOSC), employment of the FAIR principles and theirenhancement with CARE-principles. The European Commission activities are reviewedin the area of the Open Science roll-out as well as its ability to withstand the emergingglobal challenges like COVID-19. The EOSC concept is overviewed on the backdrop ofsuch EU policies as unified Digital Market Strategy and European Cloud Initiative, EuropeanResearch Environment, and Industrial Digitalization, as a part of those. EOSCconcept integration is considered through the development and interaction of Europeanand national research and e-infrastructures and data arrays, services and knowledgewithin the EU and globally.Steps are analyzed taken by Ukraine towards its integration to European researchenvironment and EOSC in the legal field, taking into account the State Authorities activityand implementation of the Ukraine-EU Association Agreement. It is highlighted thatthe innovations’ development of Ukraine is bound, both in timelines and meaningfully,with digital economics and the society development, intellectual property area, and should align the Ukrainian science initiatives with the European Cloud initiative as wellas further steps to joint the EOSC. It is consequently proven that consistent and meaningfulimplementation of the UA-EU Association commitments via the conceptual andstrategic regulations adopted by the state authorities is essential for Ukraine integrationto the EU’s Digital Market and Digital Environment so that to enhance its science potential.It is concluded that consistent efforts on implementing the goals and objectives asfor regulatory environment with their consequent enforcement creates the vital groundsfor successful enrollment of the national policy in this area.

The Determinants of Tourists’ Intention to Visit Halal Tourism Destinations in Aceh Province

This present study aims to identify the determinants of tourists’ intention towards halal tourism in Aceh Province. The population of this study was the tourists visiting Aceh Province in 2019 based on the data from the Central Bureau of statistics. The study used a quantitative research method, employing a purposive questionnaire to 300 local tourists and foreign tourists. The study analyzed the data using multiple linear regression with independent variables consisting of perceptions about access, communication, environment, and service. Overall, the study found that the perceptual attributes of access, communication, environment, and service were able to determine the tourists’ intention towards halal tourism in Aceh. The two most dominant determinants in shaping and encouraging increased intention in halal tourism were the Islamic environment and service for halal tourism. The study recommends the importance of adopting the Islamicenvironmental ecosystem and service as a market strategy for halal tourism destinations in Aceh Province.

Specific Features of Luxury Products Branding

In this modern world characterized by rapid change, the role of marketing is increasingly important. Developing a brand is one way in which a competitive advantage can be achieved. The work defines the concept of luxury through the prism of marketing, shows the specifics of marketing in the luxury products market and the key factors that influence the demand for luxury products. The paper found that the key to success is to effectively create a market strategy whose main goal is to create a strong and emotional long-term relationship between the brand and the consumer. Also, the new trend of "abundant rarity" has led companies in the luxury goods sector to strive to strike an optimal balance between exclusivity and affordability.

BRAND STRENGTH BASED ON REALISTIC AND EMOTIONAL FEATURES AND STRATEGY OF MANAGING IT

The article is devoted to the study of the definition of the strength of the brand by its main features: objective, characterizing the realistic benefits of using the brand, such as profit, cost savings, etc., and subjective, which characterizes the emotional satisfaction of the use of products of a particular brand or cooperation with an enterprise, which consists in the attractiveness of the brand. The purpose of the article is to develop proposals from: determining the strength of the brand's influence by realistic and emotional features, identifying strategies for managing it. The object is the process of brand management of products or enterprises. The subject is theoretical provisions, methodological approaches, methods for determining the strength of the brand on its main features and the formation of management strategies. Methods. Theoretical and practical analysis of works of branding specialists proved the need to use the following methods of research: monographic, analysis and synthesis, structural-logical method, system approach, theoretical generalization, expert methods, correlation-regression analysis. The results are as follows: the differences between the strength and value of the brand, generalized understanding of realistic and emotional components of the brand, offered indicators of their measurement - on a realistic basis by a three-factor model of transformation of brand strength into additional financial flows, emotionally - based on the developed questionnaire, that is, using expert methods, proposed a matrix of brand strength on these features and positioned brand management strategies in accordance with the essence and meaningful load. The main results of the research are proposals for assessing the strength of the brand on the basis of objective and subjective characteristics and their use to build a matrix of positioning strategies for brand management. As the main strategies of brand management it is offered to use the following: strategy of donation, and stratification of the general brand, strategy-aspiration to leadership at use of the strong points and opportunities, exclusive advantages, combining them with own possibilities, strategy of maximization of dominance in the market strengthening the basic direction of innovation, niche strategy - financing specific innovation proposals for target segments of the consumer market, strategy of flank attack to increase cash flows, market exit strategy, strategy of careful promotion, flank donation, donor strategy, attention is paid to the needs of the target audience of consumers in the market for products. The existence of a correlation between the rationalist and emotional characteristics of the brand is proved. Conclusions: brand strength and strategy should be formed on the basis of both realistic and emotional features.

Financial market development strategy in crisis: Analysis and recommendations

Subject. The article considers the development strategy of the Russian financial market under new economic conditions. Objectives. The purpose is to elaborate theoretical and practical proposals to improve the financial market strategy for boosting investment and economic growth in crisis. Methods. The study rests on strategizing, which allows to propose a number of initiatives to enhance the strategy of the financial market during the crisis period, based on trends, existing competitive advantages and opportunities of the Russian economy. Results. The paper shows the need to continue the transformation of the financial system, based not only on the liberal economic paradigm and recommendations of international institutions on the free movement of capital, but also on the use of its own strategy, aimed at economic development (including in industrial regions), enabling to address environmental factors. Conclusions. In times of crisis, it is necessary to stir up State institutions for development in financial markets, synchronize monetary and fiscal policies, strengthen the regulation of cross-border capital flows, and use the ESG strategies by public companies in Russia. The establishment of some additional restrictions on capital markets and the foreign exchange market by the financial regulator, the support for the ESG approach by State institutions for development and banks will mitigate systemic risks during crisis periods and attract financial resources to long-term investment projects of the real economy, encourage the growth of capitalization of companies, including in regions.

The dark shadow of corruption on new product development

PurposeThe study examines the effects of corruption activities on new product development of firms. The roles of senior managers in the relationship between corruption activities and new product development are also studies.Design/methodology/approachThe data of Indian firms are collected from the Enterprise Survey conducted by World Bank in 2014. Variables on corruption, new product development, and other firm level factors are considered in the study. Logistic regression is used to examine the effect of firm's engagement in corruption activities on new product development.FindingsCorruption activities of firms is negatively related to new product development. Senior manager's industry experience and engagement in regulatory activities weaken the negative relationship between firm's engagement in corruption activities and new products development.Practical implicationsWith the increased focus on innovation, organizational managers have to work on the development of new products, and understanding of the negative relationship between engagement in corruption activities and new product development will help them to achieve the desired organizational goals.Originality/valueThe study contributes in three ways. Firstly, the paper extends the theoretical understanding of the implication of a non-market strategy, corruption on new product development. Secondly, the study contributes to the existing literature on the antecedents of new product development. Finally, the roles of senior managers helps to understand the importance of their industry and regulatory experience in the main relationship.