EARNINGS QUALITY RATINGS AND CORPORATE GOVERNANCE
Jeffry Haber and Andrew Braunstein
The study investigates the effect of budget deficits, economic growth, money supply and the price of oil on interest rates. We develop a theoretical framework to show how interest rates are determined. We test our model using quarterly data in the United States, Canada and Germany, seeking to explain both short-term and long-term interest rates. The results show that, generally, interest rates are not affected by changes in budget deficits, lending (qualified) empirical support to the Ricardian equivalence proposition. We also determine the effects of GDP growth, money supply and the price of oil on short-term and long-term interest rates in the three countries.
THE CONCEPT-CREATIVE BUSINESS MODEL AS SUCCESS FACTOR
Gunter Faltin and Liv Kirsten Jacobsen
Current discussions about entrepreneurship are framed primarily in terms of business administration. But entrepreneurship is more: a complex, dynamic and multifaceted phenomenon with a creative dimension that is in parts beyond economic-rationale discourse. Business models can be built upon something else than patents or research findings by transforming genuine concepts into entrepreneurial activity.
Unconventionality and original thinking are essential factors for entrepreneurial success. In a world of ever-easier division of labor, entrepreneurs have the possibilities to use existing components to create new business models. This will open up perspectives for many more people to participate in entrepreneurship than previously imagined.
EVALUATING COUNTRY COMPETITIVENESS IN EMERGING INDUSTRIES
Many leading countries have strategy for important emerging industries such as nanotechnology and biotechnology. Evaluating country competitiveness in such industries is a complex process, but findings can be very valuable. This article shares findings and learning of an attempt to address this vital need about competitiveness. Strategy concept of critical success factors is being extended to country level to evolve simple but effective approaches. For the purpose, this article leverages the data from the IPS National Competitiveness Report for benchmarking. The learning and insights derived through the research are used to introduce simple matrix of industry life cycle and segments to help make strategic choices for differentiated positions and also draw strategic implications.
THE ROLE OF CULTURE-LEVEL FACTORS IN SHAPING ON-LINE PURCHASE INTENTIONS
Vladimir Pashkevich, David Curry, James Kellaris, and Norman Bruvold
The primary goal of this research is to enhance our understanding of the moderating role that culture-specific variables – individualism/collectivism and culture context – play in shaping consumer intentions to use the Internet for product information search and shopping. Specifically, this research (a) operationalizes the concept of culture context by constructing an index with formative indicators, (b) develops reliable and valid scales for measuring constructs comprising the Theory of Planned Behavior (TPB), and (c) examines the boundary conditions and generalizability of the TPB in Internetmediated consumption settings. We show reliable support for the interaction between culture context, subjective norms and behavioral intention. Implications for marketing practices across cultures are discussed.
CONCEPTS OF NATIONAL COMPETITIVENESS
Today, many governments follow a strategy of national competitiveness for fostering economic development. However, there is no accepted theory of national competitiveness but just different concepts behind these policies. This article aims to provide an overview of the different concepts of national competitiveness, starting with a look at firm level competitiveness. The article distinguishes between four special concepts of national competitiveness and approaches of competitive advantage. It is argued that national competitiveness should be seen as a relative rather than an absolute concept that allows for a benchmarking of nations.
GLOBALIZATION AND CULTURAL IMPERIALISM
John P. Meyer
When Tokyo Disneyland opened in 1983, the Japanese people welcomed this American cultural export with open arms – and open wallets. The decade that followed saw continually rising profits and the highest spending-per-guest of any Disney theme park. In 1992, the Walt Disney Company attempted to emulate this success by opening Euro Disney, only to face financial disappointment and cultural backlash. While some basis for these divergent experiences might be found in the inherent differences between Japanese and European (specifically French) culture, this is by no means a full explanation. Instead, this article places more of the onus on organizations to approach globalization in a more responsive, rather than controloriented, manner.