• Access to finance for innovative SMEs since the financial crisis

      Lee, N; Sameen, H; Cowling, M; University of Brighton (Elsevier, 7/11/2014)
      In the wake of the 2008 financial crisis, there has been increased focus on access to finance for small firms. Research from before the crisis suggested that it was harder for innovative firms to access finance. Yet no research has considered the differential effect of the crisis on innovative firms. This paper addresses this gap using a dataset of over 10,000 UK SME employers. We find that innovative firms are more likely to be turned down for finance than other firms, and this worsened significantly in the crisis. However, regressions controlling for a host of firm characteristics show that the worsening in general credit conditions has been more pronounced for non-innovative firms with the exception of absolute credit rationing which still remains more severe for innovative firms. The results suggest that there are two issues in the financial system. The first is a structural problem which restricts access to finance for innovative firms. The second is a cyclical problem has been caused by the financial crisis and has impacted relatively more severely on non-innovative firms.
    • The role of loan commitment terms in credit allocation on the UK small firms loan guarantee scheme

      Cowling, M; Matthews, C; Liu, W.; University of Brighton (Senate Hall Academic Publishing, 31/03/2017)
      In this paper we provide empirical evidence concerning the nature of loan commitment contracts as reflected by individual loan contract parameters in influencing the size of bank commitments. Specifically, we consider how the quantitative allocation of credit, the loan amount, is affected or altered by changes to other components of the total loan package. By doing so we shed some more light on the types of real world trade-offs that credit constrained firms might face when approaching banks for funds, using the UK governments loan guarantee programme. Our results point at the importance of relationship lending in the UK.
    • Corporate social responsibility performance and tax aggressiveness

      Chijoke-Mgbame, M.A; Yekini, Liafisu Sina; Kemi, Y.C; Mgbame, C.O; Coventry University (Academic Journals, 30/09/2017)
      This study investigated the effect of corporate social responsibility (CSR) performance on tax aggressiveness of listed firms in Nigeria. A cross-sectional research design was utilized for the study, and data were collected from the published annual reports. Using a sample of 50 companies for the period of 2007 to 2013, the findings of the study reveal that there is a negative relationship between CSR performance and tax aggressiveness in Nigeria. A significant relationship was also found between firm size and tax aggressiveness, though with mixed positive and negative results. In addition, the results reveal a negative and significant relationship between firm performance and tax aggressiveness, and the extent of tax aggressiveness is reinforcing. It can be concluded that firms are more or less likely to engage in tax aggressiveness depending on their CSR standpoints and dimension and other corporate characteristics. It is recommended that more attention should be given by tax administrations to understand conditions where tax aggressiveness is more likely and measures should be put in place to combat it.
    • The innovation debt penalty: Cost of debt, loan default, and the effects of a public loan guarantee on high-tech firms

      Cowling, M; Ughetto, E; Lee, N.; University of Brighton (Elsevier, 28/06/2017)
      High-technology firms per se are perceived to be more risky than other, more conventional, firms. It follows that financial institutions will take this into account when designing loan contracts, and that this will manifest itself in more costly debt. In this paper we empirically test whether the provision of a government loan guarantee fundamentally changes the way lenders price debt to high-tech firms. Further, we also examine whether there are differential loan price effects of a public guarantee depending on the nature of the firms themselves and the nature of the economic and innovation environment that surrounds them. Using a large UK dataset of 29,266 guarantee backed loans we find that there is a high-tech risk premium which is justified by higher default, but, in general, that this premium is altered significantly when a public guarantee is provided for all firms. Further, all these loan price effects differ on precise spatial economic and innovation attributes.
    • The World is your Oyster: The Effects of Knowledge, Human Capital, Technology and Entry Timing on International Growth

      Cowling, M; Liu, W; Zhang, N.; University of Brighton (Senate Hall Academic Publishing, 27/06/2016)
      We draw on elements of several established theories of internationalization to provide a framework for exploring international market entry and scale of entry measured by number of foreign markets entered for a sample of young, high-tech, firms from the UK and Germany. We find that founding team human capital is associated with more extensive internationalization, as is intensity of R&D, early internationalization and early stage venture capital. We also find that internationalizing firms who choose the US as their first international market entry are also those most likely to develop more extensive international market presence. Degree of asset specificity, in contrast, is associated with less extensive internationalization.
    • Impact of board independence on the quality of community disclosures in annual reports.

      Yekini, K.C; Adelopo, I; Andrikopoulos, P; Yekini, Liafisu Sina; Coventry University (Taylor and Francis, 27/02/2019)
      This study investigates the link between board independence and the quality of community disclosures in annual reports. Using content analysis and a panel dataset from UK FTSE 350 companies the results indicate a statistically significant relationship between board independence, as measured by the proportion of nonexecutive directors, and the quality of community disclosures, while holding constant other corporate governance and firm specific variables. The study indicates that companies with more non-executive directors are likely to disclose higher quality information on their community activities than others. This finding offers important insights to policy makers who are interested in achieving optimal board composition and furthers our understanding of the firm's interaction with its corporate and extended environment through high-quality disclosures. The originality of this paper lies in the fact that it is the first to specifically examine the relationship between outside directors and community disclosures in annual reports. The paper contributes both to the corporate governance and community disclosure literature.
    • Multiple disadvantage and wage growth: The effect of merit pay on pay gaps

      Woodhams, C; Lupton, B; Perkins, G; Cowling, M; University of Exeter; Manchester Metropolitan University; Brighton Business School (Wiley, 24/02/2015)
      This article concerns rates of wage growth among women and minority groups and their impact on pay gaps. Specifically, it focuses on the pay progression of people with more than one disadvantaged identity, and on the impact of merit pay. Recent research indicates that pay gaps for people in more than one disadvantaged identity category are wider than those with a single‐disadvantaged identity. It is not known whether these gaps are closing, at what rate, and whether all groups are affected equally; nor is it known whether merit pay alleviates or exacerbates existing pay gaps. In addressing these issues, the analysis draws on longitudinal payroll data from a large UK‐based organization. Results show that pay gaps are closing; however, the rate of convergence is slow relative to the size of existing pay disparities, and slowest of all for people with disabilities. When the effect of merit pay is isolated, it is found to have a small positive effect in reducing pay gaps, and this effect is generally larger for dual/multiple‐disadvantaged groups. These findings run counter to the well‐established critique of merit pay in relation to equality outcomes. The implications of this are discussed, and an agenda for research and practice is set out. © 2015 Wiley Periodicals, Inc.
    • On the productive efficiency of Australian businesses: firm size and age class effects

      Cowling, M; Tanewski, G.; University of Brighton (Elsevier, 22/06/2018)
      After 26 years of growth, the Australian economy is beginning to show signs of stress and declining productivity. In this paper, we consider aspects of productive efficiency using an Australian business population data set. Using a production function approach, several key findings are uncovered. Firstly, decreasing returns to scale are identified as a significant feature of the Australian business sector. This implies that not all firm growth will lead to productivity gains. Secondly, there are significant differences in the way value added is created between small and large firms. In the largest 25% of firms, the capital contribution to value added is four times that of the smallest 25% of firms. Thirdly, efficiency follows an inverted ‘U’ shaped in firm age with the youngest (0–2 years) and oldest (> 9 years) firms being less productive than the middle 50% of firms. Fourthly, there are also huge industry sector variations in productivity. In particular, financial services appears to be the most productively efficient sector in the Australian economy and mining the least efficient.
    • Looking at the other side of the fence: A comparative review of the mergers and acquisitions, and strategic alliances literatures

      Gomes, Emanuel; Alam, Sunbir; He, Qile; Nova School of Business and Economics, Universidade Nova de Lisboa, Portugal; Department of Physical Geography and Ecosystem Science, Lund University, Sweden; University of Derby (Emerald Publishing Limited, 2021-09-29)
      Over the last few decades, management has witnessed a proliferation of research on mergers and acquisitions (M&A) and strategic alliances (SAs). Although both fields have been widely studied, the relationship between the two bodies of literature has not been sufficiently explored. Despite the enormous commonality between both phenomena in terms of the drivers behind them and of the critical success factors associated with the M&A and alliance process management, scholars from the two fields have rarely exchanged findings and insights, even though they may be highly relevant to each other. M&A and SA research remain mostly separated from each other, thus minimizing the ability for more mutually beneficial complementary and synergetic knowledge sharing effects. This chapter synthesizes and compare existing theoretical perspectives from the M&A and SA literatures and identifies opportunities for future research and knowledge cross fertilization between the two fields. Building upon previous review studies about M&A and SA literatures, we develop a comparative longitudinal review of both literatures published in top management journals over a 27 year period. For that purpose, we resort to machine learning algorithms to discover thematic patterns that may have gone unnoticed by using traditional review methods. By highlighting some of the shortcomings that limit our theoretical and practical understandings, we challenge scholars from both fields (M&A and SA) to go beyond what they think they know from compartmentalized received theory, and draw upon novel and meaningful ideas, concepts, and theoretical approaches from “the other side of the fence”. We believe that such a dialog will facilitate further theoretical exploration and empirical investigation of both phenomena and produce insights that will influence the practical management of M&A and SAs.
    • Integrated reporting

      Conway, Elaine; Robertson, Fiona; Ugiagbe-Green, Iwi; University of Derby; Leeds Beckett University; University of Leeds (Palgrave, 2021-07-30)
    • Managing strategic accounts with empowerment and management support for co-creation of value

      Veasey, Christian; Lawson, Alison; Kotera, Yasuhiro; University of Derby (British Academy of Management, 2021-07-16)
      This study explores managing strategic accounts for co-creation of value, and the utility of management input to account plans and empowering account managers. In recent years, managing strategic accounts (SA) has progressed towards relationship-building with customer relationship management (CRM) and use of service-dominant logic (SDL) for co-creation of value. However, there is limited data regarding managing SA with empowerment and management support for co-creation of value. Accordingly, this research aims to appraise the functions of managing SA with empowerment and management support for co-creation of value. Aligning with a pragmatic research philosophy, semi-structured interviews (n=12) were selected with mixed demographics. Participants were primarily strategic account managers (SAMs) from a variety of business sectors. Thematic analysis was conducted on the interview transcripts to arrive at key issues and themes. The findings imply that the emphasis of managing SA has progressed into a value-creating account relations management approach. Empowerment and support from senior management were felt to be important to SAMs. This study shows the importance of management support and empowerment for successful strategic account management that creates value for both customer and supplier.
    • Revisiting International Public Sector Accounting Standards Adoption in Developing Countries

      Boolaky Doorgakunt, Lakshi D; Omoteso, Kamil; Mirosea, Nitri; Boolaky, Pran Krishansing; University of Derby (Taylor & Francis, 2021-06-06)
      Based on a comprehensive review of recent studies on IPSAS adoption around the globe, we develop in this article a conceptual model to examine alternative predictors of adoption for developing countries. Drawing from this framework, we develop a rigorous econometric modelling on the impact of legal, political and accounting environments in the developing countries’ drive for IPSAS adoption. Contrary to what existing literature projects, our study reveals that a country’s IFRS and ISA experience is more important and significant drivers of IPSAS adoption compared to IFRS adoption. Likewise, political system, regulatory enforcement, lenders and borrowers’ rights and the level of corruption in a country also influence IPSAS adoption.
    • Social Marketing: Advancing a New Planning Framework to Guide Programmes

      Akbar, M Bilal; Ndupu, Lawrence; French, Jeff; Lawson, Alison; Nottingham Trent University; University of Derby; Strategic Social Marketing Ltd, London (Emerald, 2021-05-31)
      This paper develops and presents a new planning framework of social marketing, known as CSD-IES (Consumer Research, Segmentation, Design of the Social Programme, Implementation, Evaluation and Sustainability). The proposed framework is based on recent theoretical developments in social marketing and is informed by the key strengths of existing social marketing planning approaches. The CSD-IES planning framework incorporates emerging principles of social marketing. For example, sustainability in changed behaviour, ethical considerations in designing social marketing programmes, the need for continuous research to understand the changing needs of the priority audience during the programme, and the need for explicit feedback mechanisms. Research Implications – The CSD-IES framework is a dynamic and flexible framework that guides social marketers, other practitioners, and researchers to develop, implement, and evaluate effective and sustainable social marketing programmes to influence or change specific behaviours based on available resources. This paper makes an important contribution to social marketing theory and practice by integrating elements of behaviour maintenance, consideration of ethical perspectives and continuous feedback mechanisms in developing the CSD-IES framework, bringing it in line with the global consensus definition of social marketing.
    • Access to Finance for Cleantech Innovation and Investment: Evidence from U.K. Small- and Medium-Sized Enterprises

      Cowling, Marc; Weixi, Liu; University of Derby; University of Bath (IEEE, 2021-05-03)
      Clean technology (cleantech) is becoming increasingly important as firms and industries seek to address challenges around the global scarcity of resources and also achieve wider social and environmental goals. Yet there are underlying problems with how capital markets respond to this increasing demand for new and innovative cleantech investments. In this article, we use a large U.K. dataset to first consider the extent to which firms engaging with cleantech increase their demand for external capital. We then consider how different types of debt and equity financiers deal with this demand for funds. Our key findings are that: 1) businesses engaging with clean technologies have a higher demand for external capital and 2) these demands are not being fully met by traditional providers which forces firms to seek out alternative and nontraditional sources of finance.
    • Holidays and economic growth: Evidence from a panel of Indian states

      Ghosh Dastidar, Sayantan; Apergis, Nicholas; University of Derby; University of Texas at El Paso, El Paso, TX, USA (Wiley, 2021-05-01)
      The number of holidays differs significantly across Indian states. Moreover, some of the governing political parties have been accused of using holidays as a tool either to mollify disgruntled workers or to woo voters before the state elections. In this context, this paper explores the relationship between the number of holidays and economic growth across 24 Indian states, spanning the period 2008–2016, by employing a panel model analysis. The paper presents evidence suggesting that holidays seem to affect growth negatively in the rich states but are inconsequential for the growth performance of the poor states.
    • Researching entrepreneurship: an approach to develop subjective understanding

      Rajasinghe, Duminda; Aluthgama-Baduge, Chinthaka; Mulholland, Gary; University of Northampton, Northampton, UK; University of Derby, Derby, UK; AFG College with University of Aberdeen, Doha, Qatar (Emerald, 2021-04-29)
      Entrepreneurship is a complex social activity. Hence, knowledge production in the field requires inclusivity and diversity within research approaches and perspectives to appreciate the richness of the phenomenon. However, the dominance of positivist research in the field is visible, and the current qualitative research is also predominantly restricted to popular templates. This seems to have limited the understanding of entrepreneurship. This paper critically discusses the appropriateness of interpretative phenomenological analysis (IPA) as an innovative qualitative research methodology that facilitates a fuller appreciation of the richness and diversity of entrepreneurship. This conceptual paper critically evaluates IPA's relevance for the stated purpose by reviewing both entrepreneurship and IPA literature. It discusses how IPA's philosophical underpinnings facilitate scholars to appreciate the wholeness of the phenomenon and provides literature informed data analysis guidance, thereby addressing some of the weaknesses of the qualitative research within the field. Critical evaluation of the literature suggests that IPA is an appropriate research methodology for entrepreneurship. It has the potential to address some interesting and timely questions to elaborate, deepen and qualify existing theory or to study relatively unexplored areas within the field. The laid-out guidance helps scholars to develop informed rationale for their research decisions and to ensure quality and rigour in qualitative research. This paper promotes the analysis of how people make sense of their experience as a valid way of knowing. IPA has a unique identity as it incorporates phenomenology, hermeneutics and idiography as a way to explore first-hand human experience to uncover qualitative understanding of entrepreneurship. The clear guidance and justifications in the paper promote scholarly confidence and address some preconceptions related to rigour, quality and validity of qualitative studies. Incorporating IPA into entrepreneurship, the paper also contributes to the demand for diversity, inclusivity and pluralism in qualitative research perspectives and approaches.
    • COVID-19 impact on waste management − business opportunity Emirate of Ajman − UAE

      Alhosani, Khaled Mueen; Liravi , Pouria; University of Derby (EDP Sciences, 2021-04-12)
      The UAE's lifestyle has recently developed with increased population resulted in an increased waste from different resources (hazardous and non-hazardous). This has significantly got accumulated during the pandemic. Crisis management is one of the most important management practices that need careful modelling to include planning, framework practices, training, and reserved resources. Naturally, a complete plan for the expected crisis is ready for implementation when a crisis starts to reduce the crisis impacts. Moreover, those plans are to cover the periods before, during and after that crisis. Waste is a resource for many health, environmental, and social problems when not managed. Therefore, this paper aims to introduce elements needed in that combination of waste and crisis management and exploring the main critical elements that need to be contained and carefully studied to enhance modern waste management. The presumed management model examines the waste management practices prior to, during, and after the crisis. COVID-19 pandemics have severely affected all nations and critically disabled many services that governments are providing. Data collected for similar periods before and after the pandemic of the waste, including the amounts, practices, and associated outcomes. A concluded resultwas used to introduce a new framework model for the required initiatives of waste − crisis management. Results showed the importance of using the Waste − Business correlation for high-quality management. During the COVID-19 crises, a significant challenge is the massive quantity of regular waste that has become hazardous and required special treatment adding more cost and resulting in recyclable material reduction. The article has concluded that change in the dynamics of plastic, food, and biomedical waste generation during the same time has, however, stirred the woes of solid waste management. The non-hazardous waste was considered hazardous in many cases to minimize the chances of contamination. Inevitably, plastic has increased as personal protection and healthcare items increased with the reduced recycling process to avoid its adverse effect. Private businesses need to support Governmental efforts to deal with contingency. Materials Recovery Facilities (MRF) were getting less waste due to worries of contaminations and virus spreading. All these challenges and practices had a considerable effect on the Government waste associated budget.
    • Innovation in Small & Medium Enterprises in São Paulo

      Freitas, Adriano; Riascos, Luis; Andrade, Alexandre; Faco, Julio; Gallotta, Bruno; Universidade Federal do ABC; University of Derby (International Conference on Industrial Engineering and Operations Management, 2021-04)
      The Brazilian Small & Medium Enterprises (SMEs) represent over 98% of all active companies in the country in 2020. The role of innovation in processes must receive special attention, which leads us to write this article to measure the Dimensions of Innovation in companies. The Radar of Innovation was applied to support the model of the diagnostic method tool, which was established to perform data analysis with the needs of each organization. Through this methodology, analyzing the 12 Dimensions of Innovation for a sample of 20 SMEs in the manufacturing segment, in the south region of São Paulo, is used for the research fieldwork. The role was to promote recommendations and collaboration, to improve the opportunities to be replicated in other organizations with similar challenges. The contribution of this work is the Dimension Processes, since most participants had common results. They all found the need to differentiate themselves from their competitors.
    • An analysis of the impact of unconventional oil and gas activities on public health: New evidence across Oklahoma counties

      Apergis, Nicholas; Mustafa, Ghulam; Ghosh Dastidar, Sayantan; University of Texas at El Paso, USA; University of Derby; Queen Mary University of London, UK (Elsevier, 2021-03-17)
      The expansion of unconventional oil and gas development (UNGD) in the US has been highly controversial so far with no consensus on its health, economic, environmental, and social implications. This paper examines the effects of UNGD on the health profile of the population in the context of Oklahoma using a unique data set. To this end, the analysis assembles a panel data set including 76 counties of Oklahoma, spanning the period 1998-2017. The analysis estimates the long-run relationship between the health profile and its determinants using the Common Correlated Effects (CCE) method. The empirical setup allows for cross-sectional dependence and accounts for both observed and unobserved heterogeneity. The main findings provide strong evidence that UNGD activities have negative effects on human health-related outcomes across all counties in Oklahoma. Specifically, an increase in the number of (unconventional) wells has a positive impact on mortality rates, and incidences of cancer, cardiac, and respiratory diseases in communities in close spatial proximity, and a negative impact on life expectancy. These findings provide evidence that UNGD activities pose significant risks to the public health profile across the Oklahoma population. Such findings are expected to have substantial implications for the national debate on the regulation of UNGD.
    • The geographical impact of the Covid-19 crisis on precautionary savings, firm survival and jobs: Evidence from the United Kingdom’s 100 largest towns and cities

      Brown, Ross; Cowling, Marc; University of St Andrews; University of Derby (SAGE Journals, 2021-01-28)
      In this commentary, we trace the economic and spatial consequences of the Covid-19 pandemic in terms of potential business failure and the associated job losses across the 100 largest cities and towns in the United Kingdom (UK). The article draws on UK survey data of 1500 firms of different size classes examining levels of firm-level precautionary savings. On business failure risk, we find a clear and unequal impact on poorer northern and peripheral urban areas of the UK, indicative of weak levels of regional resilience, but a more random distribution in terms of job losses. Micro firms and the largest firms are the greatest drivers of aggregate job losses. We argue that spatially blind enterprise policies are insufficient to tackle the crisis and better targeted regional policies will be paramount in the future to help mitigate the scarring effects of the Covid-19 pandemic in terms of firm failures and the attendant job losses. We conclude that Covid-19 has made the stated intention of the current government’s ambition to ‘level up’ the forgotten and left-behind towns and cities of the UK an even more distant policy objective than prior to the crisis.