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This paper analyses entrepreneurial orientation as a composite formed of innovation, proactiveness and risk-taking. The empirical data for this study were gathered from a survey sent to hotel managers. The fieldwork was carried out between January and June 2018. The process provided 102 valid questionnaires. Two methods were used: structural equation modelling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA). This study makes six key contributions and findings. First, the use of these two methods provides robust and reliable results. Second, reliability and validity values for innovativeness, proactiveness and risktaking are satisfactory. Third, the operationalisation of entrepreneurial orientation using the latent variables of innovativeness, proactiveness and risk-taking is satisfactory in terms of reliability and validity. Fourth, these three dimensions have a positive and significant influence on entrepreneurial orientation. Fifth, innovativeness is the most important dimension of entrepreneurial orientation. Sixth, innovativeness is a necessary and sufficient condition for entrepreneurial orientation. ARTICLE HISTORY

This paper reports on the differences of managerial competencies among MBA students from American and European business schools. The results of this research suggest that there are certain differences of not only nationality but also gender. The study also points out the need for different managerial competency profiles to better assess MBA students looking for future career development. The results of this study indicate that there is a difference at the national level between assessed managerial competencies of American and European MBA students that can be attributed to cultural factors. This conclusion confirms the findings of Chong (2008) and Akinola, Martin, and Phillips (2018). Secondly, at the organisational level, cultural differences manifest themselves in some but not all assessed managerial competencies. These research findings provide empirical evidence which suggests that, in managing and advising international and global future managers, one ought to distinguish between external, interpersonal and personal managerial competencies which are applicable across cultures and which are prone to cultural differences. ARTICLE HISTORY

R&D investment has a sophisticated correlation with the financial performance of cultural and creative enterprises. In this study, using the panel data of listed cultural and creative enterprises in China from 2011 to 2013, we found that R&D investment has positive impacts on financial performance in both the current and the lag periods. However, these positive impacts are moderated by actual controllers. More specifically, there is a positive moderating effect on enterprises’ financial performance when the central government is the actual controller. On the other hand, there is no evident effect when the actual controller is a local government or a state-owned enterprise, and there is a clear negative moderating effect on financial performance when a natural person is the actual controller. Given these findings, we argue that local governments and state-owned enterprises should improve their long-term strategies for the cultural and creative enterprises they control and reduce actions forced by short-term economic goals. Additionally, local governments and state-owned enterprises should fundamentally stress the role of R&D in order to handle the pressure of increasingly keen competition from international companies’ technological innovation programs.

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