How Revolutions Shape (or Rather Blur) Markets: Initial Insights from the Arab Spring

Armanios, Daniel Erian; Adly, Amr

doi:10.5465/ambpp.2016.14740abstract

Cited by 2 publications

(5 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The 1979 Nicaraguan Revolution, for example, led to the deaths of an estimated 35,000 people (1.2% of the population) and material damage estimated at 25% of gross national product (Austin and Ickis 1986). Similarly, during the Tunisian and Egyptian Arab Spring, Armanios and Adley (2016) found, government revolutions undermined the state's ability to maintain security and to ensure that state financial institutions were adequately working, which negatively impacted venture survival. Throughout periods of revolution, military ties can give ventures material support in the form of physical security by stationing troops near them, or by giving them information to help protect them from violence.…”

Section: Military Relationship Contingenciesmentioning

confidence: 99%

Manu Militari: The Institutional Contingencies of Stakeholder Relationships on Entrepreneurial Performance

Hiatt

Carlos

Sine

2018

Organization Science

View full text Add to dashboard Cite

This study examines how ventures can leverage relationships with heterogeneous government stakeholders to enhance survival in different institutional environments. We consider how the distinct resources provided from venture ties to military and political actors represent complementary strategic assets that differentially influence performance in varying political and economic environments as well as under conditions of violence and political conflict. Empirically, we examine the effect of these respective stakeholder relationships on new venture survival across 10 countries over a 65-year period. By distinguishing between the resources obtained through relationships with different types of government stakeholders and showing how the value of these resources varies in different contexts, this study contributes to nonmarket strategy and stakeholder management research and highlights the need for studies to take a pluralistic view of government stakeholders. The paper also presents managerial insights to firms seeking to address the prevalent challenges associated with political, economic, and physical security issues in developing and underdeveloped economies.

show abstract

Section: Military Relationship Contingenciesmentioning

confidence: 99%

Manu Militari: The Institutional Contingencies of Stakeholder Relationships on Entrepreneurial Performance

Hiatt

Carlos

Sine

2018

Organization Science

View full text Add to dashboard Cite

show abstract

“…This jolt started in 2010 in Tunisia and spread to other Arab countries such as Egypt, Libya, Yemen, Lebanon and Jordan. In Egypt, it began on January 25th, 2011 and ended in June 2013 (Armanios and Adly, 2016). During the Arab Spring, the economy floundered, experiencing a high unemployment rate and low economic growth Firm financial performance in Egypt (Abdelbaki, 2013).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…This jolt has not been tested in the context of this relationship in Egypt. During the Arab Spring, which lasted from January 2011 to June 2013 (Armanios and Adly, 2016), Egypt suffered significantly from several of its publicly listed firms being wiped out. The Arab Spring had dramatic adverse effects on stability, resource availability and economic performance in terms of GDP per capita (Matta et al, 2019).…”

Section: Research Settingmentioning

confidence: 99%

“…Moderating variable. The moderating variable selected was the environmental jolt of the Arab Spring, which began in January 2011 and ended in June 2013 (Armanios and Adly, 2016). We measured this variable through a categorical variable using three different periods: 0 denotes the pre-jolt period (2007)(2008)(2009)(2010), 1 denotes the jolt period (2011-2013) and 2 denotes the post-jolt period (2014)(2015)(2016).…”

Section: Datamentioning

confidence: 99%

“…Furthermore, they often change the available resources and cause hostile transformations in environments (Dess and Beard, 1984). An example is the Arab Spring, which began in January 2011 and ended in June 2013 (Armanios and Adly, 2016). The Arab Spring had dramatic adverse effects on stability, resource availability and economic performance in terms of GDP per capita (Campante and Chor, 2012;Matta et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Did the environmental jolt matter? Corporate entrepreneurship and firm financial performance in Egypt

Tantawy

Elaasi

Elshawadfy

2021

JEEE

View full text Add to dashboard Cite

Purpose Evidence suggests that corporate entrepreneurship (CE), namely, innovativeness, risk-taking and corporate venturing, enhances a firm’s performance. However, the study of CE in developing markets – particularly in Egypt – is still new and undeveloped. The literature stresses the importance of incorporating environmental factors into the study of CE. Therefore, the purpose of this study is to examine the relationship between CE, environmental jolts (unexpected abrupt environmental events such as the Arab Spring) and the firm’s financial performance. Based on the periods before and after the series of anti-government protests known as the Arab Spring, this paper argues that after an environmental jolt, CE will negatively affect financial performance. Design/methodology/approach This study analyzes and correlates CE, environmental jolts and firm performance in Egypt for a period over 10 years (from 2007 through 2016) using a sample of 94 manufacturing firms listed on the Egyptian Stock Exchange. Data were manually collected through archival/secondary data using financial and accounting information from the annual reports released by the firms. These reports were downloaded from the firms’ webpages and the Egyptian Exchange website. Findings The main results of this paper indicate that environmental factors play a role in the effect of CE on firm performance. Using the 2011 Arab Spring as a quasi-natural experiment, this paper finds that CE’s effect on firm performance is higher pre-jolt and lower post-jolt. Practical implications This study provides useful implications for managers and practitioners. Firms need to find new ways of allocating their resources to help provide innovative products and to have a competitive advantage. Although innovation, risk-taking and corporate venturing may have a delayed impact on a firm’s financial performance, managers should evaluate the implications and the success of CE activities in the long-term, not from a short-term perspective. Originality/value Building upon the existing literature, this is the first paper to investigate the effect of CE on a firm’s financial performance in Egypt during the Arab Spring. The manufacturing firms listed on the Egyptian Exchange were analyzed in a quasi-natural experiment, taking into account the moderating role of an environmental jolt, namely, the Arab Spring.

show abstract

How Revolutions Shape (or Rather Blur) Markets: Initial Insights from the Arab Spring

Cited by 2 publications

References 0 publications

Manu Militari: The Institutional Contingencies of Stakeholder Relationships on Entrepreneurial Performance

Manu Militari: The Institutional Contingencies of Stakeholder Relationships on Entrepreneurial Performance

Did the environmental jolt matter? Corporate entrepreneurship and firm financial performance in Egypt

Contact Info

Product

Resources

About