• 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.
    • Green Jobs and Green Skills in the East Midlands

      Paterson, Fred; University of Derby (University of Derby, 2021-10-15)
      This Race to Zero White Paper explores the different definitions of ‘green jobs’ and ‘green skills’ and sets out what we know about the current state of ‘green collar’ jobs in the East Midlands and how the University of Derby is supporting the shift towards a sustainable economy.
    • 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.
    • Japanese Martial Arts for Wellbeing During COVID-19

      Veasey, Christian; Foster Phillips, Charlotte-Fern; Kotera, Yasuhiro; University of Derby (Taylor & Francis Group plc, 2021-09-16)
      The unprecedented and uncertain times of the COVID-19 pandemic have changed our lifestyles significantly, with lockdowns and social distancing measures in place to reduce virus transmission. These changes have likely had a negative effect on our wellbeing, and have been associated with increased stress, anxiety, and depression. During these unforeseen times, online martial arts lessons have highlighted the possibilities that martial arts offer in regard to positive wellbeing benefits such as self-awareness and self-mastery in managing and dealing with health issues. This short paper examines the potential benefits martial arts training may provide as an alternative wellbeing strategy to counter challenges associated with COVID-19.
    • The social marketing paradox: challenges and opportunities for the discipline

      Akbar, Bilal; Foote, Liz; Lawson, Alison; French, Jeff; Deshpande, Sameer; Lee, Nancy, R.; Nottingham Trent University; Antioch University New England, NH, Keene, USA; University of Derby; Strategic Social Marketing Ltd, London; et al. (Springer, 2021-08-22)
      This paper contributes to emerging discourse about the ongoing challenges and opportunities of social marketing as a discipline. The paper presents a qualitative perspective on existing challenges faced by social marketing and offers suggestions for addressing these challenges. Nine semi-structured interviews with social marketing academics and practitioners from six different countries were conducted. Thematic analysis was used to analyse and interpret the qualitative data. The study provides insight into existing challenges for social marketing, classified into three key themes according to their position within or outside of the discipline: 1) poor branding of the discipline as an internal challenge, 2) competing disciplines as an external challenge, and 3) overall reach of the discipline, seen as both an internal and external challenge. The findings suggest that social marketing needs to overcome poor branding issues to sufficiently address external challenges. We conclude by arguing for a more robust marketing of the discipline. While scholars have identified the challenges and opportunities for social marketing as a discipline, they have paid little attention to examining these challenges from the viewpoint of expert practitioners and academics. This paper presents a nuanced contextual understanding of the identified challenges through a qualitative perspective and explores how social marketing can overcome these challenges.
    • 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.
    • An empathetic approach: Using appreciative inquiry to gain balanced insights

      Veasey, Christian; Lawson, Alison; Hancock, Charles; University of Derby (Academy of Marketing, 2021-07-07)
      Appreciative Inquiry (AI) is described as a collaborative approach to the exploration and development of investigations with informed consideration of what is working well, as opposed to a problem-solving approach (Reed, 2010). The traditional problem-solving approach starts from the point of view that ‘xyz is not working in the abc department’ and has a potential disadvantage in that it focuses on the participants, so participants may feel as if they are under scrutiny and that the researcher is seeking someone to blame for the issue or problem (Goldberg and Commins, 2001). Moreover, this approach focuses on problems that may lead to negatively perceived outcomes, whereas concentrating on positivity, strengths, successes, achievements, positive choices, positive resources, energy and assets can lead to enhanced outcomes and the sustainability of existing strengths (Carter, 2006).
    • 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.
    • How will Blockchain Technology Transform Supply Chains? Science mapping on Blockchain Technology

      Daniel, Jay; University of Derby (Production and Operations Management Society (POMS), 2021-05)
      As most blockchain initiatives are yet at the first outset, this research explores blockchain technology in supply chain through literature survey and bibliometric review. The study reveals some interesting findings of the direction and trends of blockchain technology and emerging research themes, leading countries, key authors and new emerging topics.