• 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.
    • How Influencing Behaviours Can Accelerate the Transition to a Water Sensitive City.

      Ramkissoon, H; Smith, L. D. G; Kneebone, S. C; Monash University (CRC for Water Sensitive Cities, 31/01/2015)
      his Behaviour Assessment Database has been compiled as part of the CRC Water for Sensitive Cities project on 'Accelerating to Water Sensitive Cities by Influencing Behaviour' (Project A2.2). The overarching goal of this research project is to develop and test interventions that seek to change desirable behaviours, primarily in residents, to assist a movement toward water sensitive cities.
    • 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.
    • Visitors' experience, place attachment and sustainable behaviour at cultural heritage sites: a conceptual framework

      Buonincontri, P; Marasco, A; Ramkissoon, H; Monash University (MDPI, 26/06/2017)
      Sustainable tourism research has attracted wide interest from scholars and practitioners. While several heritage sites are mandated to provide optimum visitor satisfaction with increasing competition in the market, managers of heritage sites face growing challenges in striking a balance between consumption and conservation. This calls for promoting more sustainable behaviours among consumers of heritage. This study proposes a conceptualization of sustainable behaviour for heritage consumers. Using the attitude–behaviour relationship underpinned by the Theory of Reasoned Action, it develops and proposes a conceptual framework that integrates visitors’ heritage experiences, their attachment to heritage sites, and their general and site-specific sustainable heritage behaviour and presents their interrelationships as proposed hypotheses. Theoretical contributions and practical implications for heritage site managers are discussed.
    • 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.
    • Samadhi spa & wellness retreat

      Ramkissoon, H; Monash University (Kendall/Hunt Publishing, 23/08/2013)
    • The satisfaction-place attachment relationship: Potential mediators and moderators.

      Ramkissoon, H; Mavondo, F. T; Monash University (Elsevier, 23/05/2015)
      Researchers use place satisfaction as a dependent variable extensively since place has implications for a range of performance measures. This study reverses the relationships suggesting place satisfaction as a useful antecedent to place attachment. Place satisfaction, measured as visitors' summative evaluation of their experience is likely to be more positively associated with place dependence, identity, affect, and social bonding. The findings of this study support this contention and establish that one of the principal mechanisms linking place satisfaction to place attachment is pro-environmental behavioral intention (PEB). The study further finds that gender moderates the relationship between PEB and place attachment. The conditional indirect effect of place satisfaction on place attachment is significant only for male visitors. The article closes with implications of the study for academics and practitioners.
    • Proenvironmental behavior: critical link between satisfaction and place attachment in Australia and Canada

      Ramkissoon, H; Mavondo, F. T.; Monash University (Cognizant Communication Corporation, 23/03/2017)
      This study explores issues of scale equivalence and generalizability in national parks. Visitors' place satisfaction, proenvironmental behavior, and place attachment are measured across two qualitatively distinct populations in Australia and Canada. Techniques employed in this cross-country study bring an important contribution to tourism research. The primary focus is to establish measure equivalence before undertaking hypothesis testing using structural equation modeling on a sample of 339 repeat visitors at the Dandenong Ranges National Park, Australia, and 296 repeat visitors at the Bruce Peninsula National Park, Canada. Results from both samples indicate (a) there is measure equivalence between the Australian and Canadian samples allowing comparability of findings, (b) a positive and significant effect of visitor place satisfaction on proenvironmental behavioral intentions, (c) a significant and positive influence of proenvironmental behavioral intention on place attachment (place identity, place dependence, place social bonding, place affect), and (d) a significant and negative effect of visitor place satisfaction on place social bonding. The main finding relates to the promotion of proenvironmental behaviors among national park users that—in addition to individual benefits—provides environmental sustainability as well as practical benefits for park managers and society.
    • 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.
    • Role of ethnic cultural events to build an authentic destination image

      Shabnam, S; Choudhury, A; Ramkissoon, H; Monash University (Taylor and Francis, 21/12/2018)
      Local festivals are becoming increasingly important tourist attractions for the sophisticated tourist in quest of new authentic experiences (Ramkissoon and Uysal, 2014; Ramkissoon, 2015, 2016). The extent to which local festivals can grow as a point of attraction for international tourists while ful?lling their social and cultural roles at the national level is an issue of immense importance to social and cultural policymakers and destination marketers. This chapter explores the local festival of ‘Pohela Boishakh’, which is the celebration of the Bengali New Year. It is recognised by UNESCO as ‘Intangible Cultural Heritage of Humanity’ and identified as the largest national event of Bangladesh, a developing economy with crucial geo-political importance in the South Asian region, with substantial economic promises for the local population (UNESCO, 2016). This chapter draws on Getz et al. (2006)’s framework to explore festival stakeholder relationships, especially resource dependency issues, with a view to advancing the application of stakeholder theory to festival tourism, festival management and marketing in an integrated manner. Implications for tourism and event management along with theoretical advances are discussed with suggestions for future research in the field.
    • Leadership in destination management organisations.

      Hristov, D; Ramkissoon, H; Monash University (Elsevier, 21/09/2016)
    • 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.
    • Place and Post-Pandemic Flourishing: Disruption, Adjustment, and Healthy Behaviors

      Counted, Victor; Cowden, Richard; Ramkissoon, Haywantee; Western Sydney University; Harvard University; University of Derby (Springer, 2021-09-22)
      This book rekindles the well-known connection between people and place in the context of a global pandemic. The chapters are divided into two sections. In the first section, “Place Attachment During a Pandemic,” we review the nature of the COVID-19 pandemic and the extent of its impact on place attachment and human-environment interactions. We examine how restrictions in mobility and environmental changes can have a significant psychological burden on people who are dealing with the effect of place attachment disruption that arises during a pandemic. In the second section, “Adjusting to Place Attachment Disruption During and After a Pandemic,” we focus on adaptive processes and responses that could enable people to adjust positively to place attachment disruption. We conclude the book by discussing the potential for pro-environmental behavior to promote place attachment and flourishing in the aftermath of the COVID-19 pandemic by introducing an integrative framework of place flourishing and exploring its implications for theory, research, policy, and practice.
    • Integrated reporting

      Conway, Elaine; Robertson, Fiona; Ugiagbe-Green, Iwi; University of Derby; Leeds Beckett University; University of Leeds (Palgrave, 2021-07-30)
    • Why the initiative of free childcare failed to be an effective policy implementation of universal childcare in South Korea

      Lee, Sung-Hee; University of Derby (Taylors & Francis Online, 2021-07-22)
      Free childcare (‘moo-sang-bo-yuk’ in Korean) for all children aged 0-5 was implemented for the first time in South Korea in 2012, initially being aimed at establishing universal childcare in order to alleviate parents’ childcare burden. Despite the headlines grabbing policy reform, it still remains questionable whether the policy implementation has had any positive impact on parents’ childcare burden, in terms of the state taking on more responsibility in this regard. The paper is aimed at exploring how the meaning of universal childcare was communicated during the policy initiation process. In order to do so, interpretative policy analysis was utilised as a methodological approach, whilst relevant policy documents and in-depth interviews were used for data collection. Why the policy implementation could not succeed in bringing universal childcare to the fore is critically examined. I argue that these failings occurred because the policy implementation was placed on the agenda with a lack of commitment to increasing the number of public childcare centres, as well as disengagement from understanding the gender relations necessary for delivering universal childcare effectively.