Search results
1 – 4 of 4Michael W-P Fortunato, Theodore R. Alter, Morgan R. Clevenger and Cynthia J. MacGregor
This chapter explores the role of colleges and universities supporting regional and national economic development with emphasis on leveraging innovation and entrepreneurship. Key…
Abstract
This chapter explores the role of colleges and universities supporting regional and national economic development with emphasis on leveraging innovation and entrepreneurship. Key focuses for economic development support from higher education include human resources development, technical assistance, capacity building, economic research and analysis, research, technology transfer, and new business development.
Michael William-Patrick Fortunato and Theodore Roberts Alter
This paper aims to underscore the role of culture in situating and embedding opportunistic action differently in high- and low-entrepreneurship communities in the USA. It…
Abstract
Purpose
This paper aims to underscore the role of culture in situating and embedding opportunistic action differently in high- and low-entrepreneurship communities in the USA. It challenges the idea that opportunity is either exclusively discovered or created – two themes commonly found in the literature.
Design/methodology/approach
The approach utilizes a multiple case study across one high- and one low-entrepreneurship community in rural areas in each of three states – Pennsylvania, Wisconsin and Maine. Community profiling, key informant interviews and survey analysis with entrepreneurs and local institutional actors are used to develop a greater understanding of how these individuals conceptualize and utilize opportunity in ways that lead to entrepreneurship development.
Findings
Quantitative and qualitative findings are presented supporting the idea that in these rural areas, discovery and creation fail to capture the nuances of how entrepreneurs think about opportunistic action.
Practical implications
This research offers insights for both researchers and practitioners about more effective ways to think about entrepreneurial opportunity and provides a glimpse as to how different community actors may hold different, but equally-valid, views on how opportunity arises – an idea with significant policy and practice implications.
Originality/value
The research contributes empirical support challenging the current discussion on entrepreneurial opportunity and advances the conversation as it pertains to rural entrepreneurship development using original research from the field.
Details
Keywords
Kwangmin Park and SooCheong (Shawn) Jang
The purpose of this paper is to provide an understanding of the effects of advertising based on economic cycles. To comprehend advertising effects in the restaurant industry from…
Abstract
Purpose
The purpose of this paper is to provide an understanding of the effects of advertising based on economic cycles. To comprehend advertising effects in the restaurant industry from an economic cycle perspective, this study investigated both short- and long-run advertising effects under periods of economic contraction and expansion and compared those effects between the two economic periods.
Design/methodology/approach
The data were collected from the COMPUSTAT database for the restaurant industry (SIC 5,812) from 1979 to 2010. To estimate the economic cycles, the 2005 year-based real gross domestic product (GDP) was used from the Bureau of Economic Analysis. Also, all variables were depreciated by the value of the US dollar in 2005. For estimation, a single equation error correction model was used to examine the short-term and long-term effects of advertising.
Findings
The results of this study indicated that both the short- and long-term effects of advertising on sales growth were more obvious in contraction periods than in expansion periods. However, the short-run effects of advertising on brand equity did not significantly differ between expansion and contraction periods. Further, the long-term effects of advertising on brand equity were greater in expansion periods than in contraction periods. The findings suggest that restaurant firms should not reduce their advertising budgets during periods of economic contraction to take advantage of superior sales growth outcomes during these periods.
Practical implications
The results of this study provide restaurant managers with useful practical implications. During economic contraction periods, restaurant managers should not reduce advertising budgets to take an ascendant position in terms of sales growth. Though the net positive effect at year t + 1 of contraction periods was smaller than that of expansion periods for sales growth, this is temporal and the long-run positive effect on sales growth spreads into future periods. Thus, a counter-cyclical advertising strategy could compensate for reduced sales from weak customer demands during economic contraction periods.
Originality/value
There have been many empirical studies on the advertising effect in the literature. However, this study examined whether the effects of advertising differ between economic expansion and contraction periods. This specificity is helpful for industrial practitioners as well as academic researchers.
Details