EO Performance Research Articles

The Role of Creating Shared Value and Entrepreneurial Orientation in Generating Social and Economic Benefits: Evidence from Korean SMEs

This study investigates the effect of entrepreneurial orientation (EO; one of the most broadly acknowledged firm-level constructs) on the performance of small- and medium-sized enterprises (SMEs). Furthermore, we analyze the moderator effect of creating shared value (CSV) on firm performance. Our analysis was conducted using a structural equation model on a stratified sampling method of 294 manufacturing and service SMEs in Korea. The results show that an SME’s efforts in some variables in EO constructs are statistically positively related to both its financial (economic benefits) and non-financial performance (social benefits). Our study results also reveal that there is a significant positive moderator effect of CSV on the EO-performance relationship. This implies that CSV, when bundled with EO, can boost firm performance and provide SMEs with not only a competitive and sustainable advantage but also reduces their risk. This research contributes to the extant literature by investigating the interactive effect of CSV on the relationship between EO and firm performance in the context of SMEs, which has received scant attention in the extant literature. In the last section, the limitations and future research agenda of this study are presented.

Entrepreneurial orientation and firm performance in SMEs: the mediating role of entrepreneurial competencies and moderating role of environmental dynamism

PurposeEntrepreneurial orientation is among the vital factors that contribute to performance, especially for small and medium-sized enterprises (SMEs). However, the empirical studies provide mixed results and call for new studies to examine this relationship. Therefore, this study aims to determine the entrepreneurial orientation's (EO) direct and indirect impact (via entrepreneurial competencies) on firm performance. Additionally, the moderating role of environmental dynamism is also tested in entrepreneurial competencies and firm performance relationships.Design/methodology/approachThe data (N = 332) were collected from managerial rank employees, using a self-administered questionnaire, working in different SMEs in Pakistan. In addition, structural equation modeling (SEM) was executed using SmartPLS 3.2.FindingsThe study's results demonstrate that EO positively influences entrepreneurial competencies and firm performance, and entrepreneurial competencies also mediate the relationship between EO and performance. Additionally, environmental dynamism strengthens the positive relationship between entrepreneurial competencies and performance.Originality/valueThis study identifies that entrepreneurial competency is the missing link between EO and firm performance, due to which the relationship between them is indecisive. This study also contributes to the contingency perspective by explaining the role of environmental dynamism as a boundary condition in strengthening the relationship between entrepreneurial competencies and SMEs' performance in an emerging economy.

Patel-Teja cubic equation of state – A review of modifications and applications till 2022

The Patel-Teja equation of state (PT EOS) is extensively researched, modified, and applied three-parameter cubic equation of state for the prediction of volumetric and thermodynamic properties by both academia and industry. As a result, we have presented a review article on PT EOS covering its history and progress up to 2022. We attempted to compile all the modifications along with applications to PT EOS for both pure fluids and mixtures. The prediction of a similar critical compressibility factor for all fluids, followed by unreliable liquid density estimation using two-parameter equations of state, prompts researchers to seek a better alternative. Therefore, three-parameter equations of state were introduced with substance dependent critical compressibility factor which led to a better representation of liquid density. We divided modifications to PT EOS into three categories: (a) Modify expression of parameters (a,b, and c) or alpha functions (b) Introduce new terms in the expression of the equation of state (c) Propose new mixing rules or modify them for the application to mixtures.The generalized Patel-Teja-Valderrama equation of state (PTV EOS) is one of the most successful and widely used modifications of PT EOS. Despite significant efforts to improve the accuracy and performance of PT EOS, an accurate equation of state that applies to all situations remains elusive, necessitating further study and development in the field.

Investigation of carbon dioxide solubility in various families of deep eutectic solvents by the PC-SAFT EoS

Having been introduced in 2003, Deep Eutectic Solvents (DESs) make up a most recent category of green solvents. Due to their unique characteristics, and also their tunable physical properties, DESs have shown high potentials for use in various applications. One of the investigated applications is CO2 absorption. The thermodynamic modeling of CO2 solubility in DESs has been pursued by a number of researchers to estimate the capacity and capability of DESs for such tasks. Among the advanced equations of state (EoSs), the Perturbed Chain-Statistical Associating Fluid Theory (PC-SAFT) is a well-known EoS. In this study, the performance of the PC-SAFT EoS for estimating CO2 solubility in various DESs, within wide ranges of temperatures and pressures, was investigated. A large data bank, including 2542 CO2 solubility data in 109 various-natured DESs was developed and used for this study. This is currently the most comprehensive study in the open literature on CO2 solubility in DESs using an EoS. For modeling, the DES was considered as a pseudo-component with a 2B association scheme. CO2 was considered as both an inert and a 2B-component and the results of each association scheme were compared. Considering the very challenging task of modeling a complex hydrogen bonding mixture with gases, the results of AARD% being lower than 10% for both of the investigated association schemes of CO2, showed that PC-SAFT is a suitable model for estimating CO2 solubilities in various DESs. Also, by proposing generalized correlations to predict the PC-SAFT parameters, covering different families of DESs, the developed model provides a global technique to estimate CO2 solubilities in new and upcoming DESs, avoiding the necessity of further experimental work. This can be most valuable for screening and feasibility studies to select potential DESs from the innumerable options available.

The Impact of Ion Migration on the Electro‐Optic Effect in Hybrid Organic–Inorganic Perovskites

AbstractElectro‐optic (EO) modulation allows the conversion of electrical signals to optical pulses and is widely employed in telecommunications and chip‐to‐chip interconnects. Recently, hybrid organic–inorganic perovskites (HOIPs) have been explored as candidates for EO modulators. To improve the EO performance, it is envisioned that halide doping will lower the symmetry of the crystal, enhancing spontaneous polarization. However, mixed halide perovskites are often associated with ion migration, which may impact their EO properties. Thus, the influence of ion migration on the EO efficiency is investigated using Br‐doped Dion–Jacobson quasi‐2D HOIPs, (4AMP)(MA)Pb2(Brx/I1−x)7 (4AMP = 4‐(aminomethyl)piperidinium, MA = methylammonium). While density functional theory predicts a greater spontaneous polarization for the Br‐doped sample, it is found that experimental results are affected by ion migration. The EO coefficient of the Br/I mixed sample is 95 pm V−1 at 1 kHz (≈50× higher than the undoped sample), but the response falls off rapidly with frequency. This frequency dependence is correlated with impedance spectroscopy, showing that the large EO signal results from ion migration. This study shows that ion migration impacts the EO analysis of mixed halide perovskites and must be considered in future EO studies.

Electro-Optic Activity in Excess of 1000 pm V-1 Achieved via Theory-Guided Organic Chromophore Design.

High performance organic electro-optic (OEO) materials enable ultrahigh bandwidth, small footprint, and extremely low drive voltage in silicon-organic hybrid and plasmonic-organic hybrid photonic devices. However, practical OEO materials under device-relevant conditions are generally limited to performance of ≈300 pm V-1 (10× the EO response of lithium niobate). By means of theory-guided design, a new series of OEO chromophores is demonstrated, based on strong bis(4-dialkylaminophenyl)phenylamino electron donating groups, capable of EO coefficients (r33 ) in excess of 1000 pm V-1 . Density functional theory modeling and hyper-Rayleigh scattering measurements are performed and confirm the large improvement in hyperpolarizability due to the stronger donor. The EO performance of the exemplar chromophore in the series, BAY1, is evaluated neat and at various concentrations in polymer host and shows a nearly linear increase in r33 and poling efficiency (r33 /Ep , Ep is poling field) with increasing chromophore concentration. 25 wt% BAY1/polymer composite shows a higher poling efficiency (3.9± 0.1 nm2 V-2 ) than state-of-the-art neat chromophores. Using a high-ε charge blocking layer with BAY1, a record-high r33 (1100± 100 pm V-1 ) and poling efficiency (17.8± 0.8nm2 V-2 ) at 1310nm are achieved. This is the first reported OEO material with electro-optic response larger than thin-film barium titanate.

The autonomous side of EO and firm performance: the role of professional experience and entrepreneurial engagement

PurposeThe purpose of this study is to investigate the direct and indirect role of autonomy on firm performance. It also determines the role of professional experience in the relationship.Design/methodology/approachThe authors analyzed data collected from 124 small firms in Addis Ababa city using the ordinary least square (OLS) regression and hierarchical regression analysis.FindingsThe result of the OLS regression revealed that autonomy directly and indirectly (through entrepreneurial engagement) influences the firm's performance. Besides, professional experience moderates the relationship between autonomy and performance, as well as the relationship between autonomy and entrepreneurial engagement.Practical implicationsEntrepreneurs should tend to engage in the works that they have professional experience than involving in jobs that they have no experience.Originality/valueThis study examines the relationship between autonomy and firm performance in established firms. It is among the first studies that tested the moderation influence in the relationship. That is, determining the role of professional experience is a novel contribution of this study, which is forgotten previously.

PEM electrolyzer using Sb-SnO2 anode for electrolyte free electrochemical oxidation

This study uses solvothermal method to fabricate PEM electrolyzer compatible Sb-SnO2 anode catalyst with particle morphology, then load the catalyst with different arrangement of MEA, including CCG and CCM. Characterization of catalyst has been conducted using SEM, XRD and XPS. Performance of different MEA arrangement has been investigated through LSV, CV and EIS. Electrochemical oxidation of reactive blue 4 has been conducted on both arrangements. Moreover, MEA with tiny amount of Pt/C as cathodic catalyst or IrO2 as anodic catalyst has been test to determine the bottleneck of electrolyzer. Results suggested promising EO performance can be achieved through electrolyte free electrochemical oxidation, further improvement should focus on anode catalyst.

Impact of Entrepreneurial Orientation on Firm Performance through Organizational Learning: The Moderating Role of Environmental Turbulence

The given work is centered on the effect of entrepreneurial orientation on the firm performance mediated by organizational learning while the relationship of organizational learning and firm performance moderated by environmental turbulence. It enhances the literature by differentiating performances of IT firms and by describing how the five dimensions of EO impact the firm performances through organizational learning. This study observed the relationship between entrepreneurial orientation and firm performance through organizational learning and moderated by environmental turbulence. To achieve this aim, deductive approach was adopted. The sample size of the study was 250 respondents and data were collected from software houses of Pakistan. Data were collected through questionnaires. The proposed hypotheses analyzed by doing the SEM in Smart-PLS. The results demonstrate the mediating impact of organizational learning between the relationship of entrepreneurial orientation and firm performance. It was accepted and the reasons being that exploration of new ideas will help the employee to more learning that enhances their performance to achieve the project goals and objectives. The results also demonstrate the moderating impact of environmental turbulence between the relationship of organizational learning and firm performance. The results indicate that the five dimensions of EO, organizational learning, environmental turbulence, and their influence on firm performance. Managers can use these results to monitor, control, and influence the performance of projects and firm performance. The study is unique in its scope and implications as the focus is upon empirical investigation of the entrepreneurial orientation and organizational learning in the context of Asia focusing Pakistan. The originality of this study is that it undoes how the five dimensions of EO impact the firm performance. Second, it shows the moderated role of environmental turbulence between OL and firm performance. This study fills a gap in the literature by describing the organizational learning mediating the relationship of EO and firm performance and adds the argument on the results relating the relationship between EO and firm performance. The given work is focused on the impact of entrepreneurial orientation on the firm performance through organizational learning while using environmental turbulence as a moderator. A deductive approach was adopted in this study. The sample size of the study was 250 respondents and data were collected through questionnaires from software houses of Pakistan. The anticipated hypotheses analyzed by doing the SEM in Smart-PLS. All hypotheses were accepted and managers can use these results to monitor, control, and influence the performance of projects and their firm to accomplish the project objectives and intentions. The study is exclusive in its scope and implications as the emphasis is upon experimental research of the EO and OL in the context of Asia especially Pakistan. The uniqueness of this study is that it undoes how the five dimensions of EO affect firm performance through organizational learning in the presence of environmental turbulence.

How entrepreneurial orientation translates social identities into performance

Purpose Entrepreneurial orientation (EO) has been viewed almost exclusively through the lens of profit-driven firms. However, individuals engage in entrepreneurship not only for economic reasons but also to enrich a community or to advance society. Drawing on upper echelons theory, the purpose of this paper is to address this issue by proposing that founders’ social identities shape the strategic choices of their ventures. Design/methodology/approach Drawing on the data from 318 founders in the early stages of their entrepreneurial activity, the study applies partial least squares structural equation modeling to empirically test whether founders’ social identities influence their ventures’ EO. Findings The findings of the current research show that founders whose dominant purpose is the creation of value for others are more likely to launch ventures oriented toward innovation. On the other hand, ventures of founders driven by economic self-interest accept more risk, which leads to higher performance outcomes on the enterprise, community and societal levels. Originality/value The study enhances the EO discussion by adding social identity theory as a way to explain different levels of EO in firms and answers the call for more diversity in EO–performance measurement by applying specific outcomes on the enterprise, community and societal levels to investigate whether a firm’s EO leads to the desired outcomes.

Employee ownership heterogeneity and firm performance in China

AbstractEmployee ownership (EO) has gained increasingly significant attention from both business practitioners and policy makers in China. Through the examination of the implementation of EO by China's listed firms from 1992 to 2017 with a total of 3,396 firms and 36,559 firm‐year observations, we explored the relationship between EO implementation and firm performance. In general, we found that over time, EO firms outperform non‐EO firms in China, and the influence of EO is only different in nuanced aspects in different time periods according to the change of policies. The data from the most recent period, that is, 2014–2017, indicate that EO adopters have higher performance than matched non‐EO firms both before and after adoption, but the relative performance does not increase after adoption. We further examined the interactive effect between EO and executive stock ownership (ESO) schemes and found that the adoption of ESO weakens the positive relationship between EO and firm performance. Regarding different types of EO, we found lower performance in companies with high return rights but no control rights, and we found better performance when high return rights are combined with control rights. We suggested policy and managerial implications on the basis of the findings.

Modeling solubility of refrigerants in ionic liquids using Peng Robinson-Two State equation of state

In recent years ionic liquids (ILs) are introduced as new absorbents for refrigerants in the refrigeration processes. In this paper, we investigate the phase equilibrium behavior of refrigerants and ILs binary solutions as novel potential systems in refrigeration industries. A simple association model namely Peng Robinson-Two State equation of state (PR-TS EoS), is used to model the phase equilibrium data (P-T-x) of 37 various imidazolium-based ionic liquids and refrigerants binary systems at different temperatures and pressures with a total of 969 data points. In the first step, the PR-TS EoS is applied on pure components and the parameters of the model are determined. The percent of average absolute relative deviation (AARD%) between the calculated results and the experimental data of vapor pressures and liquid densities of the refrigerants are 0.58% and 1.59%, respectively. The similar AARD% for the liquid density of the ionic liquids is 0.20%. In the following, the present model is applied to calculate the vapor-liquid equilibrium of refrigerant + IL binary systems. The results of the current model show a deviation as AARD = 3.54%. Also, the performance of the PR-TS EoS is compared with the Peng-Robinson (PR) EoS and Peng Robinson-Kwak Mansoori (PR-KM) EoS. In summary, the results of the PR-TS EoS represent a good agreement with the experiments and the present model shows superiority with respect to PR and PR-KM EoSs.

Impact of Entrepreneurial Orientation of Bank Performance in Pakistan

The purpose of this study is to empirically test the relationship between entrepreneurial orientation dimensions and organizational performance in banking sector of Pakistan. A deductive approach of logic was adopted to formulate the hypotheses. A structured questionnaire was administered to the banking staff to elicit responses regarding the study variables. In order to test the hypothesized relationship, Partial Least Square Structural equation modelling technique was used. Results of PLS indicated a positive association three dimensions of EO and organizational performance. This study contributes to theory and practice in terms of Pakistani context.

Measuring the Entrepreneurial Orientation of Public Research Centers

This paper presents the initial results of a project to investigate the organizational antecedents of entrepreneurship at public research and technology institutions (RTIs) in Iran. In line with the policies of the government to increase the role of publicly funded R&D in solving the problems of domestic industry, the research centers within public RTIs are encouraged to direct their research efforts towards practical applications, thus creating value from their R&D efforts. We chose to utilize a widely-used construct from corporate entrepreneurship literature (Entrepreneurial Orientation, EO) to explain undeniable differences among these research centers in their success in academic entrepreneurship. Noting that EO is a context-sensitive construct, the items to measure EO in research centers were generated by in-depth interviews; and the relationship between the contextualized EO and financial performances of research centers was investigated. The results confirmed a notable association between the EO level of research centers and their financial performance.

A rigid ringlike molecule: large second-order nonlinear optical performance, good temporal and thermal stability, and ideal spherical structure conforming to the “site isolation” principle

Ringlike molecule R1 containing two FTC moieties exhibited excellent EO performance (d33 = 562 pm V−1 @1950 nm, T80% = 145 °C).

Extension of 2C Association Scheme to Polyols Phase Equilibria

The application of the 2C association scheme proposed by De Villiers et al. (Ind. Eng. Chem. Res. 2011 50, 8711–8725) in the association term of cubic plus association equation of state (CPA EoS) is extended to polyol containing systems to correlate the binary and predict the ternary mixtures. First, the CPA parameters of pure components were successfully adjusted by vapor pressure and saturated liquid density experimental data. Then, the performance of the aforementioned scheme is compared to the other classical schemes by modeling the vapor–liquid equilibria (VLE) and liquid–liquid equilibria (LLE) of binary {polyol/small alcohol}, {polyol/water}, {fatty acid ester/small alcohol}, and {polyol/alkane} and ternary {small alcohol/poyol/fatty acid ester} and {small alcohol/water/poyol} mixtures. Applying a simple and robust phase equilibria algorithm proposed by Privat et al. (Comput.Chem. Eng. 2013, 50, 139–151) to binary and ternary systems, the VLE and LLE correlative performance of CPA EoS coupled with various combined schemes are very satisfactory over extensive temperature ranges and shows that each model is within or close to experimental uncertainty. Then, using two temperature-independent binary interaction parameters (BIPs) fitted with binary VLE and LLE data, the predictive performance of different models is further evaluated in ternary systems phase equilibria (LLE and VLE), and acceptable results are achieved at different temperatures. Eventually, it has been demonstrated that 2C scheme exhibits remarkable precision in predicting the VLE and LLE of polyol containing systems.

Entrepreneurial Orientation and Firm Performance: Is Product Quality a Missing Link?

AbstractPrior literatures have argued that the relationship between entrepreneurial orientation and firm performance may be not as straightforward as expected. With EO–performance contingency framework, this study investigates how product quality mediates the relationship between EO and firm performance. Using survey data from 153 new ventures, we find that EO dimensions have non-uniform and non-linear, rather than merely linear, relationships with product quality. Specifically, the results reveal that innovativeness and autonomy may lead to superior product quality, however, risk-taking would decrease, not increase, product quality. Proactiveness has U-shaped, not inverse U-shaped, effect on product quality and competitive aggressiveness has U-shaped, not positive linear, effect on product quality. Our results enrich the EO-performance contingency framework and highlight the significance of concerning independent and unique effects of individual EO dimension.

Entrepreneurial Orientation, Control Systems, and New Venture Performance

This study explores the moderating effects of control systems (including output control, behavior control, and input control) on the relationship between EO and new venture performance. It finds th...

Peng-Robinson equation of state: 40 years through cubics

Since its publication in 1976, the Peng & Robinson equation of state (PR EoS) has become one of the most useful and successfully applied models for thermodynamic and volumetric calculations in both industrial and academic fields. For this reason, we have reviewed this cubic EoS, in order to explore the development around it and some general applications where it has been applied, including its most known modifications. So, a complete time-line of the PR EoS is presented, as a compilation of more than 200 modifications for pure compound applications and about 100 modifications for mixtures.These modifications to the PR EoS have been grouped in four main categories according to the nature of the modification: (a) by changing the dependence structure of α with temperature or the expressions for parameter a and b, (b) by introducing deviation functions (like volume translation), (c) by incorporating new parameters or terms in the equation of state, and finally (d) by modifying the mixing rules for mixture applications. Although great efforts have been made to improve accuracy and performance of the PR EoS, as demonstrated by the wide range of modifications, the necessity for further development of a universal, simple and accurate model is a rich source for research and discussion, considering the success of most of modifications is restricted to the studied properties and compounds, and therefore, they are limited to be just applied to the studied field. However, after 40 years, PR is still an invaluable and prominent tool, which will be under continuous development and research for next decades.

Predicting pure and binary gas adsorption on activated carbon with two-dimensional cubic equations of state (2-D EOSs) and artificial neural network (ANN) method

ABSTRACTIn this study, four two-dimensional equations of state (2-D EOSs) including Redlich–Kwong (RK), Soave–Redlich–Kwong (SRK), Peng–Robinson (PR), and Modified Mohsennia–Modarress–Mansoori (M4) were applied to evaluate pure and binary gas adsorptions on activated carbons as the absorbent. The 2-D EOSs were derived from the respective cubic (or three-dimensional, 3-D) forms of the EOSs. The non-ideality of the equilibrium phases, the adsorbed phase and the gas phase, is described by using the above-mentioned 2-D EOS. A general adsorption isotherm equation along with a relation for predicting multicomponent gas adsorption is presented based on the generalised form of the 2-D EOSs. The parameters of 2-D EOS are determined from pure component adsorption data and are used to predict the binary adsorption parameters. The obtained results were compared with the available experiment data and it was concluded that the performance of M4 EOS ( and ) is better than the other three 2-D EOSs (RK, SRK, and PR). In continuation of this study by applying the ANN method, pure and binary gas adsorptions on activated carbon were predicted. The optimum architectures of ANN models for these predictions were 7:6:1 for pure and 9:7:1 for binary gas adsorptions. The calculated error in the results ( and ) indicated that the ANN model predicted the adsorption with better accuracy compared with the 2-D EOSs.