Multimedia super corridor, Malaysia: Knowledge-based urban development lessons from an emerging economy

Purpose Knowledge-based urban development (KBUD) has been an effective strategy and an opportunity for emerging economies for catching up with the developed economies. The paper aims to investigate and provide insights on KBUD in the context of emerging economies. Design/methodology/approach The paper scrutinizes the Multimedia Super Corridor of Malaysia (MSC) by focusing on the planning, development and orchestration of the knowledge corridor. Findings The paper reveals a number of lessons and insights drawn from the development of MSC as the largest manifestation of KBUD initiative in Malaysia. Originality/value The paper provides lessons and recommendations on the planning, development and management of KBUD for emerging economies that are seeking a prosperous development.

How Does Effectual Logic Impact Survival of High-tech Startups in an Emerging Economy? - Evidence from 99tests.com Case Study

During the early stages of operation, high-tech startups need to overcome the liability of newness and manage high degree of uncertainty. Several high-tech startups fail due to inability to deal with skeptical customers, underdeveloped markets and limited resources in selling an offering that has no precedent. This paper leverages the principles of effectuation (a logic of entrepreneurial decision making under uncertainty) to explain the journey from creation to survival of high-tech startups in an emerging economy. Based on the 99tests.com case study, this paper suggests that early stage high-tech startups in emerging economies can increase their probability of survival by adopting the principles of effectuation.

Creativity and entrepreneurial efforts in an emerging economy

While much research has focused on entrepreneurship and creativity in developed economies, the notions of both topics are still embryonic in many emerging economies. This paper focuses on entrepreneurs in one such economy, Vietnam, to understand the perceptions of entrepreneurs about the role that innovation and creativity may play in their own entrepreneurial ventures and success. This is important because before reaping benefits from entrepreneurship, entrepreneurs need to decide when and on what conditions they start based on their calculations of required resources and predictions of likely outcomes. The research also sought to understand how "creativity," broadly applied ("innovation" and "creative performance") affects the ways that entrepreneurs think about and anticipate their own success and decisions. In essence, the study suggests that the higher the entrepreur’s creativity is, the more likely she or he is to start a new business and believe success will result. Future research could examine whether history, industry and geographic location matter in entrepreneurs’ perceptions as well as whether transition/emerging economies like Vietnam may have different views altogether about the two key concepts.

Resources, experience and perseverance in entrepreneurs' perceived likelihood of success in an emerging economy

This paper introduces new results obtained from a statistical investigation into a 3071-observation data set collected from a Vietnamese nationwide entrepreneurship survey. From established relationships, such factors as preparedness, financial resources and participation in social networks are confirmed to have significant effects on entrepreneurial decisions. Entrepreneurs, both financially constrained and unconstrained, who have a business plan tend to start their entrepreneurial ventures earlier. Also, financial constraints have a profound impact on the entrepreneurial decisions. When perceiving the likelihood of success to be high, an entrepreneur shows the tendency for prompt action on business ideas. But when seeing the risk of prolonging the waiting time to first revenue, a prospective entrepreneur would be more likely to wait for more favorable conditions despite the vagueness of "favorable". Additionally, empirical computations indicate that there is a 41.3% probability that an extant entrepreneur who is generating revenue sees high chance of success. Past work and entrepreneurial experiences also have positive impacts on both the entrepreneurial decisions and perceived chance of success.

The cyclical behavior of bank capital buffers in an emerging economy: size do matters

Using a panel of Colombian banks and quarterly data between 1996:1 and 2010:3, we study the relationship between short-run adjustemnts in bank capital buffers and the business cycle. We follow a partial adjustment framework and control for several variables that have been identified as important determinants of bank capital buffers in previous studies, and find that bank capital buffers vary over the business cycle. We are able to identify a negative co-movement of capital buffers and and the business cycle. However, we also find that capital buffers of small and large banks behave asymmetrically during the business cycle. While the former appear to be constant over time, once the appropriate set of control variables is used, the latter present a countercyclical behavior. Our results suggest the possible need of the implementation of regulatory policy measures in developing countries

A firm-level analysis of ICT adoption in an emerging economy: evidence from the colombian manufacturing industries

This study examines ICT adoption among 3,759 Colombian manufacturing firms, and attempts to identify the factors that are conducive to the adoption and usage of ICT at the firm level. Our major findings are (i) that the adoption of a given information and communication technology is better facilitated when a firm is relatively large, has large human capital, engages in more innovative activities, and when a firm’s organizational structure is better aligned with the given technology; (ii) that positive associations between the key determinants and ICT adoptions are more pronounced for small and medium-sized firms than for large ones, and (iii) that information spillovers within industries is also a determinant of ICT adoptions by the firms.

Corporate governance and corporate social responsibility disclosures : evidence from an emerging economy

We examine the relationship between corporate governance and the extent of corporate social responsibility (CSR) disclosures in the annual reports of Bangladeshi companies. A legitimacy theory framework is adopted to understand the extent to which corporate governance characteristics, such as managerial ownership, public ownership, foreign ownership, board independence, CEO duality and presence of audit committee influence organisational response to various stakeholder groups. Our results suggest that although CSR disclosures generally have a negative association with managerial ownership, such relationship becomes significant and positive for export-oriented industries. We also find public ownership, foreign ownership, board independence and presence of audit committee to have positive significant impacts on CSR disclosures. However, we fail to find any significant impact of CEO duality. Thus, our results suggest that pressures exerted by external stakeholder groups and corporate governance mechanisms involving independent outsiders may allay some concerns relating to family influence on CSR disclosure practices. Overall, our study implies that corporate governance attributes play a vital role in ensuring organisational legitimacy through CSR disclosures. The findings of our study should be of interest to regulators and policy makers in countries which share similar corporate ownership and regulatory structures.

Board structure and firm performance : evidence from an emerging economy

We investigate the relationship between corporate board structure and firm performance of Bangladeshi companies. Using a sample of 654 firm- year observations for the period 2005-2009, the results show some support for aspects of agency theory as a greater proportion of independent directors on boards is related to better firm performance. Supporting resource dependence theory our result also suggest that larger boards provide valuable business experience, expertise, skill and social and professional networks which might add substantial business resources to the firms and thus positively impact on performance. We also find that female and foreign directors in Bangladesh provide more monitoring which leads to better firm performance. Our study contributes to extant research on board structure–performance relationship by providing evidence from an emerging economy context which is characterised by ownership concentration, family dominance and poor regulatory oversight.

Entrepreneurial orientation and performance of microenterprises in an emerging economy

Guided by the literature on institutional theory and entrepreneurial orientation (EO), this study examines the impact of the institutional environment on EO and performance of microenterprises at the subnational, city level in an emerging economy in contrast to most studies conducted at the national level in developed markets. The results of the study show that four types of formal institutions and two types of informal institutions are significantly associated with EO and that the latter is positively associated with higher levels of microenterprise performance. Implications of the results and future research directions are discussed.