International Experts’ Influence on Company Internationalization

Purpose: The article evaluates the associative relationship between international supervisory board experts and foreign ownership, along with the experts’ influence on the financial and operating performance of firms. The study was based on data collected for 257 companies listed on the Warsaw Stock Exchange in 2010–2015. Methodology: The dataset was built as a panel, and then generalized least squares regression models with a fixed or random effect were employed to test hypotheses. Findings: The findings of the study clearly show that the presence of investigated firms in foreign markets positively affects company performance. Moreover, models with dependent variables ROA and ROS show that supervisory board members with foreign experience positively affect profitability indicators of firms that do not operate on foreign markets. The data analyses reveal that international experts are more effective advisors for companies that conduct no business activities on foreign markets. Furthermore, the results show a positive moderate association between the share of international experts in supervisory boards and the share of foreign ownership in the company. Originality: The article contributes to the understanding of determinants and consequences of the presence of international experts in supervisory boards and company internationalization.

Investigating the Antecedents of Purchase Intention Toward Local Dairy Products: An Empirical Study Based on the SOR Model

Purpose: The aim of this study was to investigate the antecedents of consumers’ purchase intention toward local dairy products. In doing so, this article delves into the relationships between perceived quality, perceived price, customer satisfaction, brand image, and customer purchase intention in the context of developing countries. Design/methodology/approach: Drawing on the stimulus-organism-response (SOR) framework, the research model was tested using the partial least squares structural equation modeling (PLS-SEM) technique with a questionnaire applied to 731 respondents from Saudi Arabia. Findings: The results showed that perceived quality, consumer satisfaction, and brand image have a positive impact on purchase intention, whereas perceived price could not explain purchase intention. Moreover, consumer satisfaction and brand image appeared to significantly mediate the relationships in the research model. Research limitations/implications: This article studies a specific country and local dairy consumption. One should be careful when generalizing the results to other food and country contexts. Originality/value: This study investigates consumer purchase intention specifically toward local dairy products, which was a matter underexplored in the literature as opposed to studies on a variety of other local products. Moreover, the article contributes to an extension of the SOR framework onto the body of literature regarding local products.

Analysis of Security Criteria for IoT-Based Supply Chain: A Case Study of FMCG Industries

Purpose: In supply chains, creating a secure space for data production, sending, storing, and analysis has always been a critical issue. The main goal of this research was to evaluate the importance of various security criteria in an intelligent supply chain system. Methodology: The main data collection method was the expert survey. Experts validated the security criteria and sub-criteria. Then, the importance of these criteria was evaluated using the fuzzy analytic hierarchy process method. Findings: The results revealed that reliability and privacy with their sub-criteria were the most important ones among the obtained security criteria for IoT-based supply chain management. Practical implications: The research results can provide valuable insight for supply chains’ decision-makers. The findings can also be a good reference point for researchers who work on the IoT-based supply chain concept in other countries and sectors. Research limitations: Limitations of this study are the purposive sampling method and the limited scope of studied companies and sectors. Therefore, the article provides initial insight on the matter. Originality: The study presents the research problem from a new perspective and gives possible solutions for IoT-based supply chain management.

Does Psychic Distance Still Matter? Empirical Evidence from Poland

Objective: The objective of the article is to fill a research gap regarding the impact of psychic distance on the initiation of relationships by managers from Poland-based firms and to analyze the psychic distance’s influence on firm performance. Research methodology: The article is based on quantitative research conducted among managers from 201 Poland-based companies operating in foreign markets. The study used a structured questionnaire consisting mainly of closed questions. The dataset contained companies representing all sizes, industries, and ownership status from all over Poland. Findings: Two types of companies were identified following managers’ (un)willingness to initiate relationships with actors located in psychically distant markets. The study conclusions reveal that psychic distance matters for Polish managers and that business activities conducted in psychically distant markets are often perceived as more complex than in close markets. These activities involve additional risk, but they bring companies better performance. Limitations: The limitation of the study is that the measurements are based on the subjective perceptions of psychic distance. The research was conducted in Poland only. Originality: The article is a pioneer work on the psychic distance paradox among Polish managers from a diversified group of companies (from small to multinational). The article seeks to identify to what extent Polish managers perceive psychic distance as an important factor in the decision-making process concerning the initiation of relationships with foreign partners.

Commitment in the German Banking and Consulting Industry: Influence of Different Leadership Styles on Employee Commitment

Purpose: The success of a firm often largely depends on its employees. Therefore, we propose and test the possibility of influencing affective and normative commitment by transactional, transformational, and passive leadership styles. Implications: Demographic change is progressing slowly but steadily; here lies the crucial point. Our results show that only transformational leadership influences the commitment dimensions positively. That can help make the best use of scarce human resources to remain competitive in the long term. Originality/Value: The article provides new information concerning the relationship between transformational and transactional leadership style and their influence on commitment within the banking and consulting sector of the German service industry. It highlights the need for further research into this topic across industries and demographics. For cross-cultural (USA-Germany) comparisons, the article might help to understand differences and trends within globalization. Methodology: To address this question, we conducted interviews with 197 employees of the financial service sector in Germany to confirm the relationship between leadership styles and employee commitment. In order to verify and extend previous research, we planned an explanatory study. We used the multiple regression analysis to examine this relationship. Findings: The results provide new evidence for German participants, which show (1) that transformational leadership is the “optimum” to facilitate commitment and is completely decoupled from the other leadership styles. (2) Preliminary studies revealed a preference toward transactional leadership, which correlated positively with affective and normative commitment. The present study cannot confirm this correlation. (3) Passive leadership correlates negatively with commitment, which indicates that the avoidance of passive leadership is essential. In sum, the correlation for different leadership styles (except transactional leadership style) is higher than in the preliminary studies. This indicates that the relationship between leadership styles and affective and normative commitment is exceeding the assumptions.

Competency Needs of Industry 4.0 Companies

Purpose: The main aim of the study is the analysis of the awareness of competency needs in businesses in relation to the development of Industry 4.0 and the possibility of meeting those needs within business cooperation networks. Methodology: We formed a model of competency needs for companies operating as part of Industry 4.0 in Poland, considering the needs of managers and other staff members. The model was then employed in empirical studies. The pilot empirical study was conducted using two methods: a quantitative CAWI method, which covered 81 companies from the metal processing and machine industry in Podlaskie Voivodship, and a qualitative IDI on a sample of 25 organizations. Findings: Manufacturing companies are not fully aware of the competency needs related to Industry 4.0, covered by the established model. Moreover, we found that the most strongly felt competency needs – both by managers and other employees – may not be met within the business cooperation network. In order to satisfy these needs, partners must be found outside the studied network. The business cooperation network that we studied may only satisfy the less noticeable competency needs. Implications: The developed competency model should be studied and further verified, including testing with a larger sample of companies, specifying the behavioral competency gaps related to Industry 4.0, their filling in using formal education systems, lifelong education, internships, and apprenticeships. The need for further research is dictated by the intensity of processes occurring within the Fourth Industrial Revolution. Value: The pilot nature of the study and its limited sample do not undermine its contribution to the body of knowledge as it confirms that the competencies of managers and other staff members are one of the key determinants of successful implementation of the Industry 4.0 concept in Poland.