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The Oxford handbook of spatial diversity and business economics
'The Oxford Handbook of Spatial Diversity and Business Economics' provides academics, researchers, and advanced students in various disciplines - such as business, economics, and geography - with an overview of the role of diversity in modern advanced economies.
BOOK
What Segments Equity Markets?
We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many countries, the level of segmentation remains significant in emerging markets. We characterize the factors that account for variation in market segmentation both through time as well as across countries. Both a country's regulation with respect to foreign capital flows and certain nonregulatory factors are important. In particular, we identify a country's political risk profile and its stock market development as two additional local segmentation factors as well as the U.S. corporate credit spread as a global segmentation factor.
Journal Article
Market Segmentation and Cross-predictability of Returns
We present evidence supporting the hypothesis that due to investor specialization and market segmentation, value-relevant information diffuses gradually in financial markets. Using the stock market as our setting, we find that (i) stocks that are in economically related supplier and customer industries cross-predict each other's returns, (ii) the magnitude of return cross-predictability declines with the number of informed investors in the market as proxied by the level of analyst coverage and institutional ownership, and (iii) changes in the stock holdings of institutional investors mirror the model trading behavior of informed investors.
Journal Article
From websites to social media: exploring the adoption of internet marketing in emerging industrial markets
Purpose
This study aims to explore internet marketing adoption in emerging industrial markets across several internet-based technologies (i.e. social media platforms, static and transactional websites).
Design/methodology/approach
This study is mainly based on an exploratory research design and investigated the online presence of 570 industrial organizations in terms of their involvement in social media. This study also examines if websites are used for basic marketing communications (brochureware) or for conducting advanced marketing activities. An online survey is used to explore the relationships between several factors and internet marketing adoption.
Findings
The study found that half of the investigated organizations are using the internet as a one-way communication vehicle through static websites. The study also revealed that decision-makers in emerging industrial markets are enthusiastic about social media, particularly Facebook. In addition, internet marketing adoption was positively related to perceived relative advantage, compatibility, organizational innovativeness, competitor and customer pressure.
Practical implications
From practitioners’ perspectives, the findings can help decision-makers identify the current levels of involvement in internet marketing. At the macro level, the high percentage of organizations with minimum involvement in internet marketing calls for conducting awareness initiatives to educate industrial organizations, particularly small- and medium-sized enterprises, about the opportunities offered by the internet.
Originality/value
The findings from this study enrich internet marketing research because it focuses on industrial organizations in emerging markets, which is a rarely examined context despite its importance and potential.
Journal Article
Critical incidents and dissatisfaction in B2B relationships: an appraisal theory analysis
Purpose
There are numerous studies on satisfaction, but not enough on dissatisfaction when its consequences can be harmful. This study aims to examine different unsatisfactory situations during customer–supplier relationships in industrial markets combining the appraisal theory with the critical incident technique to identify potential problems and strategies to minimize their effect.
Design/methodology/approach
This research follows an exploratory qualitative approach based on 18 in-depth interviews with managers from business-to-business firms. The information obtained was object of a textual and conceptual analysis using the analytical software ATLAS TI 9.0.
Findings
The results show that negative cognitions have greater influence than negative emotions, and those dissatisfied customers may respond by expressing complaints, ending transactional relationships, reporting the other party legally, asking for explanations or continuing commercial relationships, even though they are dissatisfied. This will depend on the severity of the critical incident and the negative cognitions and emotions perceived. Proactivity and understanding of this situation will allow for understanding what specific actions to take to resolve conflicts and mitigate the negative effects among the parties.
Originality/value
This paper focuses on dissatisfaction, instead of satisfaction, in industrial markets through the appraisal theory. Furthermore, it applies the critical incident technique to understand the cognitions and emotions related with dissatisfaction in the commercial relationships. Finally, it provides ideas on what are the main source of dissatisfaction and how to manage them to anticipate and better manage those incidents.
Journal Article
Building and Sustaining Buyer-Seller Relationships in Mature Industrial Markets
Empirical research in relationship management has tended to take a snapshot of a relationship at a given time and attempt to project its trajectory, despite agreement among researchers that a longitudinal perspective focused on process models advances the implications for practice. The authors use a field investigative approach to study, over time, the evolution of three industrial buyer-seller relationships in mature industrial markets. The relationships are characterized by various degrees of initial asymmetry and have evolved in dramatically different ways over time. Their findings suggest that weaker firms can structure and thrive in long-term relationships with powerful partners because initial asymmetries are subsequently redressed through the development of high levels of interpersonal trust across the dyad, which in turn leads to increased levels of interorganizational commitment.
Journal Article
Women's Socio-economic Status in Employment Opportunities in Nigeria:Implication for Gender Disparity in Labour/ Industrial Market
In recent times, little is known about the level of gender inequality in the Nigerian labour /industrial market and how such inequality is explained by the characteristics of men and women in the labour market. Consequently, this study investigates women's socio-economic status in employment opportunities in Nigeria. They study adopted a secondary data method. It used the 2008/2009 harmonised survey data especially the labour and employment component. Within the framework of Mincer type specification of wage equation, this study estimates ordinary least squares (OLS) at different levels of education. Heckman's two-step sample selection model was used to control for possible selection bias in the wage equation since this is always present in sample truncation. To explain gender gaps in earnings at different levels of education, Oaxaca type decomposition technique was employed in the analysis. The results show that there is a huge gender earnings gap to the disadvantage of women in the Nigerian labour market and that the level of this gap declines as the level of education increases. The study also finds that endowments which arc the observed characteristics of men and women work to reduce the level of gender earnings gap significantly. This study recommends among other things, that government should ensure girls obtain higher educational qualifications by providing them support beyond primary and secondary education. Also, women should be encouraged to participate in the nonwage labour market activities since most of these activities have higher earnings potential.
Journal Article
Competitive models behaviors
Modern forms of organization of activities have led to the need for strategic management of industrial business. The complexity and uncertainty of the external environment have of strategic partnership. The implemented cooperation strategy creates conditions for the integration of economic interests. Competition limits the growth of prices and promotes the use of various methods of struggle in the market. The system of strategic marketing planning has a cyclical character, the author has developed and justified the content and logic of its functioning. It is established that marketing activity is a set of practical actions to achieve marketing goals. The paper presents a theoretical justification for the development of marketing strategies and forms of competition. It is proved that the marketing planning system allows solving the problems associated with the introduction of new products to the industrial market, the main characteristics of the strategy and conditions for the successful implementation of innovative products are determined.
Journal Article
What Determines Productivity?
Economists have shown that large and persistent differences in productivity levels across businesses are ubiquitous. This finding has shaped research agendas in a number of fields, including (but not limited to) macroeconomics, industrial organization, labor, and trade. This paper surveys and evaluates recent empirical work addressing the question of why businesses differ in their measured productivity levels. The causes are manifold, and differ depending on the particular setting. They include elements sourced in production practices—and therefore over which producers have some direct control, at least in theory—as well as from producers' external operating environments. After evaluating the current state of knowledge, I lay out what I see are the major questions that research in the area should address going forward.
Journal Article