Volume 25, Number 2, 2022

EN:

Today, firms face joint pressures to increase the representation of women at the highest levels of their organizations, and to be more environmentally responsible. Still, the impact of these movements on firm performance is less clear. Through the lens of the Attraction-Selection-Attrition (ASA) Cycle, this study looks at the impact of Board Gender Diversity (BGD) and Environmental Responsibility on Innovative Output as measured by patents. Using a longitudinal sample of the top-patenting firms at the United States Patent and Trademark Office, we find that both BGD and Environmental Responsibility lead to higher levels of Innovative Output, and BGD positively moderates the relationship between Environmental Responsibility and Innovative Output. This paper contributes to existing literature by highlighting the need to consider BGD and Environmental Responsibility at the same time when considering their implications on firm performance. We also expand the scope of the ASA Cycle to include overall firm performance with respect to innovation.

EN:

This study examined the relationship between corporate governance attributes, firm-specific characteristics, and financing decisions of listed firms in Ghana using panel data for a nine-year time frame spanning 2011 to 2019. The study adopted multivariate regression analysis using Prais-Winsten regression, correlated panels corrected standard errors (PCSEs). The findings show that corporate board structures in Ghana play a significant role in influencing the financing decisions of listed firms on the Ghana Stock Exchange. Specifically, corporate boards with bigger sizes and more female representation prefer more debt financing of their assets. Also, the findings provide support for the Pecking Order Theory and identifiable firm-specific determinants of financing decision of listed firms. The evidence provided by this study is robust to alternative estimators. The outcome of this study further provides strong policy support for enforcing proper corporate governance features and gender diversity dimensions for corporations in Ghana.

EN:

Entrepreneurship education at the tertiary level is gaining ground within developing economies like Ghana. But empirical studies that assess the role of universities in stimulating and consolidating entrepreneurship traits are limited in emerging economies. This study is a quantitative study that adopts the structural equation model approach to examine the effect of four constructs (Attitude, Subjective Norm, Perceived Behavioral Control, and the Role of University) on the Entrepreneurship Intention of university students in Ghana. Results indicate a significant positive relationship between university entrepreneurial role and student entrepreneurial intention. Also, both attitude and subjective norm had a significant positive association with student entrepreneurial intention. The relationship between perceived behavioral control and student entrepreneurial intention was a significant negative relationship. These results provide an empirical basis for leveraging universities to stimulate students’ entrepreneurial intention within developing economies such as Ghana.

EN:

The purpose of this study is to explore the influence of a CEO’s market orientation on the strategic orientations of Small and Medium Enterprises (SMEs). A survey was conducted and data were collected from a sample of 175 Senegalese SMEs. The data were analyzed using structural equation modeling in STATA. The results show that some dimensions of a CEO’s market orientation positively influence SMEs’ strategic orientations. The findings imply that CEOs must individually exhibit market-oriented behaviors to encourage the development of strategic orientations in their SME. This study contributes to the development of the literature on individual market orientation by revealing that the CEO’s market orientation constitutes a key factor for the strategic orientation in SMEs.