دانلود رایگان ترجمه مقاله بررسی تاثیرات خدمات در مورد احتمال ورشکستگی شرکت های تولیدی – الزویر ۲۰۱۶
دانلود رایگان مقاله انگلیسی بررسی تاثیر افزایش خدمات بر احتمال ورشکستگی شرکت های تولیدی به همراه ترجمه فارسی
عنوان فارسی مقاله: | بررسی تاثیر افزایش خدمات بر احتمال ورشکستگی شرکت های تولیدی |
عنوان انگلیسی مقاله: | Examining the influence of service additions on manufacturing firms’ bankruptcy likelihood |
رشته های مرتبط: | مدیریت و علوم اقتصادی، مدیریت کسب و کار، مهندسی مالی و ریسک، تولید و عملیات، کیفیت و بهره وری و توسعه اقتصادی و برنامه ریزی |
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توضیحات | ترجمه این مقاله به صورت خلاصه انجام شده است. |
نشریه | الزویر – Elsevier |
کد محصول | f144 |
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بخشی از ترجمه فارسی مقاله: ۶-۲ کاربرد های مدیریتی |
بخشی از مقاله انگلیسی: ۶٫۲٫ Managerial implications Across industries, manufacturing companies strive to survive the pressure of difficult economic times by increasing their portfolio of ancillary services (Cusumano et al., 2015; Fang et al., 2008; Neely, 2008). Our study provides empirical evidence that this is not always an effective strategy. The finding that broader offerings of productrelated or product-unrelated services fail to consistently reduce bankruptcy likelihood warns managers that additional services are not a self-enforcing path to firm survival. Managers should not overestimate the value-creation potential of services and assume that additional services increase chances of firm survival under all circumstances. Findings further suggest that managers should carefully consider their firm context, as this might provide the conditions for service additions to reduce bankruptcy exposure. Specifically, we demonstrate that a diversified product business provides an important complement to product-related services, enabling companies to increase their chances of survival by expanding their offering of such services. In turn, in conjunction with sufficient slack resources, additional product-unrelated services can lead to lower bankruptcy likelihood. Therefore, managers must strive for consistency between their service offering expansions (product-related or -unrelated) and their firms’ existing product business diversification and resource slack. Finally, we suggest that industrial companies carefully consider the purpose of their service offering expansions. This study focused on bankruptcy likelihood as performance outcome. If a company is willing to take the risk of default, also service offerings that do not meet our recommendations could pay-off. ۷٫ Limitations We conducted our study among public companies for which we could find the 10-K, 10-K405, 10-KSB or 20-F form, and thus most of the companies were US-based. In this way, we could ensure that our dataset contained no missing values (LOGIT requires complete case analysis) and we could also reliably use the Compustat database for industry-level data (Ali, Klasa, & Yeung, 2009). We assume that our findings would transfer to Western European manufacturers, yet further validation in other national contexts would be valuable. Further research might also explore evidence from private equities, although recent statistics indicate that, at present, failure risk is significantly higher for large public companies than for small private ones (Danner, 2008). Moreover, limiting the sample to companies with 10-K, 10- K405, 10-KSB or 20-F forms led us to exclude 84 of 164 bankrupt companies for which we could not find competitors with one of the above forms. We leave it to future research to examine broader samples. We operationalized companies’ breadth of product-related, product-unrelated and product-dependent services by counting the number of services they offered within each category. Although using the number of services is in line with our focus on the configuration of the service offering portfolio, including other measures of the importance of different services would provide a finer-grained assessment. Therefore, a natural extension of our work would be to investigate different dimensions of service offering strategy, including the emphasis placed by the firms on specific services (Homburg et al., 2003). For example, it could be interesting to investigate the effect on bankruptcy likelihood of the number of customers to which specific services are offered, or the role of the activeness with which they are offered, as both these dimensions have shown a link to firm financial performance in previous empirical research (e.g. Gebauer et al., 2010; Kohtamäki et al., 2013b). To the best of our knowledge, there is no public information or secondary source providing such data, so such an investigation would require primary data collection, an extremely difficult task for bankrupted companies. We linked the service offering to bankruptcy likelihood, but we did not isolate the causal mechanisms (i.e. debt capacity, cash flows, sales, profits) through which this effect ensues. Therefore, additional research should try to capture the causal mechanisms embedded in the servicesbankruptcy relationship and identify the relevant mediating variables. The consistency of the results concerning our first two hypotheses with the theoretical underpinnings of our model corroborates the asset relatedness argument of portfolio theory in the case of service extensions. Yet future studies are needed to shed more light on the emergence of demand correlation effects. We focused on cash flow synergies generated by the ability of product-related service offerings to capitalise on high product sales, and product-independent service offerings to compensate for low product sales. While we investigate overall product sales as a moderator, our measurement model does not directly address product demand volatility. Future researchers should investigate the role of product-independent services in compensating for volatility in product sales over time, especially in cases where such services, while independent of demand, nevertheless depend on the presence of an installed base of products (e.g. maintenance, renewal and upgrade, end-of-life services). Finally, we encourage additional research adopting the portfolio perspective. Portfolio research can still contribute a great deal to understanding the characteristics of different service expansions, and how product companies can better articulate their service offerings to support organisational success and survival. |