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EN
Clusters of interrelated firms could be an important source of competitive advantage. However, measuring the performance of clusters and firms within clusters is difficult. In this paper the authors show how the residual income model can be used to measure the performance of clusters and firms within clusters. This is accomplished by separating the performance due to cluster membership from the performance due to firm-specific factors. The developed model should be of particular interest to managers of firms within clusters and the public sector in determining appropriate interventions for forming and supporting clusters.
EN
This study investigates the effects of foreign ownership on accounting conservatism adoption in Vietnam. Although foreign ownership is found to have a positive relationship with accounting conservatism in Korea (An, 2015), there is still no general agreement on it. In this regard, the purpose of this study is to shed more light on the association between foreign ownership and accounting conservatism. Using data from Vietnamese firms listed on stock exchanges, the study finds that in contrast to the findings of An, foreign ownership is negatively associated with accounting conservatism. This result supports the transient hypothesis of foreign ownership, indicating that foreign investors with the low level of ownership do not have significant incentives to oversee managers, thus not influencing financial reporting quality.
EN
This article examines the impact of maturity of economy on an activities’ focus of cluster organisations. For a basis of research concerning the focus of activities of clusters from advanced economies and clusters from the Visegrad Group countries (V4), the authors of this article obtained data from a large sample of clusters. This research has tested whether differences in clusters’ activities and their implementation in various advanced economies are not caused by different thinking and attitudes of clusters’ managers or the respective age of clusters. The research results confirmed that the selection and use of activities could be different according to the maturity of the economy, considering the same stage of the clusters life cycle and similar views of managers regarding the focus of activities that contribute to the successful development of clusters.
EN
This paper considers the importance of the automobile industry in the global economic environment and sheds additional insight on the forecasting of passenger car sales. The study uses data from the automotive sectors in 38 countries, which account for more than 80% of passenger cars in use worldwide for testing the accuracy of a general framework that uses income and other country-specific factors to forecast passenger cars sales for short- and mid-term periods. The results indicate that this framework can be applied to a wide range markets, but its performance is primarily influenced by income levels in these markets. Tested and discussed is not only income as the main predictor of sales, but also the effects of other factors such as vehicle ownership level on passenger car sales projections. Income is shown to play both a determining role and a moderating role that affects other variables’ impact on passenger car sales.
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