• 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 Brighton (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.
    • Turning motivation into action: A strategic orientation model for green supply chain management

      Liu, Shumin; Eweje, Gabriel; He, Qile; Lin, Zhibin; Guangdong University of Foreign Studies, China; Massey University, New Zealand; University of Derby, United Kingdom; Durham University, United Kingdom (Wiley, 2020-07-03)
      This study examines the key motivations for a firm to adopt green supply chain management (GSCM) strategic orientation, and the mechanisms that subsequently influence GSCM practices. Three components of GSCM orientation were examined, i.e. strategic emphasis, management support, and resource commitment. Data were collected from a sample of 296 manufacturing firms in China. The results indicate that the most important motivation is environmental concern, followed by customer requirements, cost saving and competitive pressure, while legal requirements were not a significant factor. The results confirm that strategic orientation plays mediating role between motivations and the actual practices. Within the three components of strategic orientation, resource commitment and strategic emphasis have stronger direct impact on practices, whereas the effect of management support on GSCM practices is indirect through resource commitment. This study contributes to the literature by clarifying the key role of strategic orientation in turning GSCM motivations into actions.
    • Capacities of business incubator and regional innovation performance

      Wang, Zhaoxing; He, Qile; Xia, Senmao; Sarpong, David; Xiong, Ailun; Maas, Gideon; Coventry University; University of Derby; Brunel University London; Chongqing Technology and Business University, China (Elsevier, 2020-06-04)
      Recent years have witnessed the fast development of business incubators in many emerging economies, such as China. Business incubators are seen as important facilitators for innovation which provide office space, equipment, mentoring services, as well as financial, legal and administrative supports for technology entrepreneurs and start-up companies. Much investment has been undertaken to facilitate the development of business incubators, for example in financial frameworks, human resource development and communication infrastructure. This paper investigates the effects of business incubator capacities on the regional innovation performance, using a panel representing 31 Chinese provinces. This study finds that three capacities of business incubators have significant impacts on the regional innovation performance, while the incubation capacity appears to have a much greater effect than the basic capacity and the finance capacity. Moreover, this study also identifies that the regional communication infrastructure is an important moderator of the relationship between business incubator capacities and the regional innovation performance. This paper supports the view that emerging economies should encourage the development of business incubators in order to promote the development of technology entrepreneurs and domestic innovation performance, but more focus should be on creating free knowledge transfer platforms.
    • Strategic alliance research in the era of digital transformation: perspectives on future research

      He, Qile; Meadows, Maureen; Angwin, Duncan; Gomes, Emanuel; Child, John; University of Derby; Coventry University; University of Nottingham; Universidade Nova de Lisboa, Portugal; University of Birmingham (Wiley, 2020-05-21)
      The emerging digital transformation in the 21st century is rapidly and significantly changing the business landscape. The fast-changing activities, expectations and new modes of collaboration suggest it is time to review the current theoretical insights from Strategic Alliance (SA) research, which are based on assumptions from a different era. We therefore aim to stimulate multidisciplinary debate and theoretical reflections to better understand emerging paradoxes and challenges that contemporary firms face in the formation, evolution and dissolution of strategic alliances. Specifically, we offer alternative visions of SA research and suggest fresh applications or supplements of existing theoretical perspectives and research methods that can better address research questions that are emerging from an era of digital transformation.
    • Ethical judgement and intent in business school students: the role of the psyche?

      Conway, Elaine; Kotera, Yasuhiro; University of Derby (Springer, 2020-05-12)
      The aim of this paper is to highlight how business schools can improve the ethical behaviour of future managers. It assesses the positions of ethical judgement and ethical intent within a sample of UK business students, together with an analysis of underlying explanatory factors to those positions, such as levels of depression, anxiety, stress, motivation and self-compassion. A range of scales were used to evaluate the ethical stance and psychological characteristics of a group of UK business students. The results indicate that feelings of self-compassion, a sense of self-direction and mental health (in particular, depression) affect the ethical judgement and intent of students in a range of business and university scenarios. It is recommended that in addition to more formal ethics education, universities consider the mental health and psyche of their students to improve the efficacy of ethical training.
    • Transgenerational business legacies and intergenerational succession among the Igbos (Nigeria)

      Igwe, Paul; Madichie, Nnamdi; Amoncar, Nihar; University of Lincoln; Abertay University Dundee; University of Derby (Taylor and Francis, 2020-04-17)
      The main purpose of this study is to highlight the entrepreneurial exploits of an ethnic group within the African context. The research context is the Igbos in Eastern Nigeria who have been celebrated as the pinnacle of African entrepreneurship. The study also draws on the narratives of 25 experienced business owners, and the emerging data thematically analysed to identify key variables associated with transgenerational business legacies and succession. Additional insight on salient cultural and community nuances like the role of Di-okpara (first son), Umunna (sons of the land), Ikwu (members of a Kindred) and Umuada (daughters of the land) were unravelled through interview transcripts and validated by respondents. These insights inform a contribution to the discourse of ethnic or indigenous entrepreneurship, which has both theoretical and policy implications.
    • Quality improvement projects in catheterization laboratories: a systematic literature review

      Martinez, Cecilia Rodriguez; Gonzalez Aleu, Fernando; Granda, Edgar M.A.; Nadeem, Simon Peter; University of Derby (IEOM Society, 2020-03-10)
      A catheterization laboratory (Cath lab) is a place that has high-tech equipment that mainly allows the diagnosis and treatment of cardiovascular diseases, which represents 31% of all global deaths, according to the World Health Organization. (WHO, 2019) In an attempt to minimize process inefficiencies in Cath Lab, these organizations have been using quality improvement projects such as Six Sigma, Lean Six Sigma, Kaizen events (rapid improvement events), general quality improvement projects (plan-do-check-act) and others. However, there is a lack of publications synthesizing the literature available in this research field (quality improvement project). Therefore, this paper aim is to assess the published literature relating quality improvement projects in Cath labs in three dimensions: publication characteristics, author characteristics, and content characteristics. To achieve the purpose of this research, a systematic literature review (SLR) will be conducted to obtain the most relevant papers from three platforms: EBSCOhost, ProQuest, and Scopus.
    • Online social networks, media supervision and investment efficiency: An empirical examination of Chinese listed firms

      Yang, Zonghan; Bass, Tina; Yang, Xiaoping; Andrikopoulos, Panagiotis; Cao, Dongmei; Zhejiang Yuexiu University of Foreign Language; Coventry University; University of Shanghai for Technology and Science; University of Derby (Elsevier BV, 2020-02-22)
      Prior literature suggests that media reports acting as external supervision improve information transparency and corporate governance leading to increased investment efficiency. This study empirically tests this hypothesis in the context of online social networks by investigating the combined effects of online social networking and media reports on investment efficiency using a sample of Chinese listed firms. Our results show that the interaction of media reports and Tobin's q ratio is negatively related to corporate investment efficiency. However, the introduction of online social networks turns this relationship from a negative to a positive and statistically significant one. The combined factors significantly increase investment efficiency in non-SOEs (State Owned Enterprises) but not in SOEs. We provide evidence that online social networking effectively mitigates the negative effect of media supervision on investment efficiency, further advancing knowledge of the link of external supervision and corporate governance.
    • The UK's reading culture and consumers' emotional response to books

      Lawson, Alison; University of Derby (Routledge, 2020-01-27)
      This chapter explores why books are so popular in today’s society, discussing the idea of ‘reading culture’ and the various factors that support and encourage that culture, such as the general ubiquity of books, the impact of book clubs, literary prizes, reviews, festivals and best-seller lists. The role of libraries and the link between reading and literacy is also considered. Having established the strength of the UK’s reading culture and the various factors that support it, the chapter then moves on to consider readers as consumers, using some relevant theories from the field of consumer behaviour, to attempt to understand from a different perspective what books really mean to people. The results of a small research project about consumers’ emotional attachment to books are presented, showing that consumers are complex individuals with a range of varied needs. Consumers may be placed within a continuum of readers that ranges from those who are simply seeking information through to genuine book lovers with high involvement in the products.
    • Using an integrated humanitarian supply chain EPR system to improve refugee flow management: a conceptual framework and validation

      Koliousis, Yannis; He, Qile; Wu, Qiang; Sarpong, David; Coventry University (Taylor & Francis, 2020)
      Effective coordination of relief efforts of organizations in the Humanitarian Supply Chain (HSC) is a challenge facing various organizations and stakeholders. Despite the importance of information sharing along the HSC, limited previous studies attempted to develop feasible information systems capable of facilitating the effective resource planning and inter-organisational coordination for better relief actions. This study proposes an integrated HSC Enterprise Resource Planning (ERP) system that utilizes the capabilities of the existing Maritime Transport Security Information Systems so as to improve lean operations of HSCs, and to optimize resources planning and usage during the stochastic assignment of accepting refugees and accommodating them in their journey to safer destinations. This paper introduces the conceptual framework of this integrated ERP system and validates the feasibility of this framework in the context of the Greek refugee crisis, involving perspectives of stakeholders in the Greek refugee crisis.
    • Wasta: Advancing a holistic model to bridge the micro-macro divide

      Ali, Sa'ad; Weir, David; University of Derby; York St John's University (Cambridge University Press, 2020)
      This paper offers a synthesis of understandings of Wasta, seen as a form of social network prevalent in the Arab Middle East. Whilst there has been increasing interest in this practice, research remains fragmented and has been criticised for its limited theoretical rigor. To address this issue, a systematic review of peer-reviewed journal articles exploring Wasta published between 1993 and 2019 was conducted. The authors analysed the identified papers according to the theoretical lens from which Wasta was viewed, creating a bridge between a theoretical focus on the macro aspect of Wasta and an alternative focus on its micro aspects, leading to the development of a holistic model of Wasta. The model also helps us to understand the complexity of Wasta, both as the network itself and as the social ties that exist among its members, and sheds light on the complex nature of the role and interactions of the Waseet. The findings respond to calls for more holistic and inclusive research to inform social networks research and bridge the micro–macro divide. The paper offers recommendations to future researchers to build on the holistic and emic approach to Wasta research adopted here.
    • Threats to auditor independence: Evidence from Iran

      Fashami, Ashkan Mirzay; Boolaky, Pran Krishansing; Omoteso, Kamil; University of Derby; Griffith University, Brisbane, Australia (Athens Institute for Education and Research, 2019-12-23)
      This paper aims to examine threats to auditor independence in Iran. A mixed questionnaire, including both quantitative closed-ended questions and an open-ended qualitative question, is developed to investigate threats to auditor independence. Moreover, thematic analysis is used to triangulate the results against financial media articles throughout 1994 – 2014. Findings suggest that while bribery, non-audit services, and economic condition are key threats to auditor independence in Iran, gifts and presents do not compromise independence given the Iranian culture. This study contributes to a better understanding of auditor independence in Iran, which may apply to other regional settings. Moreover, it provides some suggestions to improve the current Iranian Audit Organisation’s auditor independence framework. (JEL M32)
    • Decreasing investment-cash flow sensitivity: Further UK evidence

      Machokoto, Michael; Tanveer, Umair; Ishaq, Shamaila; Areneke, Geofry; University of Northampton; University of Bristol; University of Derby; Manchester Metropolitan University (Elsevier, 2019-12-12)
      Using publicly listed firms in the UK, we examine the time-series variation of investment-cash flow sensitivity after directly controlling for future growth opportunities in cash flow, which if overlooked, as in the literature, could bias inferences. We find that investment-cash flow sensitivity is disappearing over time, even for constrained firms during the global financial crisis when credit constraints were more significant or binding. Our results not only confirm the decline in investment-cash flow sensitivity that is not explained by factors so far identified in the literature but also its diminishing usefulness as a proxy of financial constraints.