Portrait of Dr Zita Stone

Dr Zita Stone

Senior Lecturer in Management
Associate Dean (Director of Education)
- maternity leave

About

Dr Zita Stone received her Masters of International Business and her PhD in Management from the University of Kent at Canterbury.
Zita is a research-active academic with recent publications in the Handbook of Institutional Approaches to International Business and the academic journal of Research in International Business and Finance. She enjoys teaching and has been a course leader in the subjects of strategic management and international business.
Furthermore, Zita is active in her school’s student placement programme and has been appointed to represent Kent Business School in international postgraduate fairs.

Research interests

Strategic management, international business management, European integration, corporate financing in Central and Eastern Europe, equity culture development and financial institutions.
Zita has presented her work at international conferences organised by the Academy of International Business (AIB) and the European and International Business Academy (EIBA). 

Teaching

Zita’s teaching interests include strategic management, international business, international business in emerging economies, and European business.

Supervision

Past Supervisees

  • Roger Mongon Fon: China’s FDI into Africa: An institutional perspective 

Professional

In her professional life, Zita has worked as a lecturer in institutions in various countries including the UK, France, Slovakia and the USA.

Publications

Article

  • Konara, P., Stone, Z. and Mohr, A. (2020). Explaining alternative termination modes of international joint ventures. International Marketing Review [Online]. Available at: https://doi.org/10.1108/IMR-02-2019-0085.
    Purpose: The authors combine options logic with transaction cost economics to explain why firms maintain, divest or buy out their international joint ventures (IJVs). It is suggested that a decline in environmental risk and higher partner-related risk makes a firm more likely to acquire an IJV but less likely to divest an IJV. The study also investigates how IJV age moderates the effects of a decline in environmental risk and higher partner-related risk. Design/methodology/approach: The study employs competing risks analyses to examine the drivers of different termination outcomes using a dataset consisting of 459 IJVs in the People's Republic of China, of which 110 were either acquired or divested by their foreign parent. Findings: The study finds that changes in environmental risk and partner-related risk affect how firms terminate their IJVs in the People's Republic of China. Specifically, the authors find that the effect of exogenous and endogenous risk are more pronounced for the acquisition of IJVs than for the divestment of IJVs. Research limitations/implications: The study contributes to international marketing research by complementing options logic with transaction cost economics to provide a theoretical explanation of the different ways in which IJVs in the People's Republic of China are terminated. Practical implications: IJVs continue to be an important yet often unstable method to serve international markets. Our findings increase managers' awareness of the effect that two important sources of risk may have on the termination of IJVs in the People's Republic of China. Originality/value: The study provides novel insights into the effect that changes in exogenous and endogenous risk have on a firm's choice of termination mode drawing on novel data on the different ways in which foreign firms have terminated their IJVs in the Peoples' Republic of China.
  • Mohr, A., Batsakis, G. and Stone, Z. (2018). Explaining the effect of rapid internationalization on horizontal foreign divestment in the retail sector: An extended Penrosean perspective. Journal of International Business Studies [Online]. Available at: https://doi.org/10.1057/s41267-017-0138-0.
    We adopt a Penrosean perspective to study the effect of rapid international
    expansion on the subsequent divestment of international operations. We draw
    on regional strategy theory and differentiate Penrosean managerial resources
    by their geographical fungibility to argue that the effect of rapid international
    expansion on the divestment of international operations varies with the
    regional patterns of firms’ international expansion and international
    experience. We test our hypotheses using two-stage least squares (2SLS)
    estimation on data that capture the international expansion and divestment of
    retailers over the period 2003–2012.
  • Stone, Z., Filippaios, F. and Stoian, C. (2014). Equity Culture Development in Central and Eastern Europe: The Role of Institutional and Managerial Factors. Research in International Business and Finance [Online] 31:234-263. Available at: http://dx.doi.org/10.1016/j.ribaf.2013.09.005.
    In this paper we argue that the development of equity culture in the CEECs is dependent on the presence of a combination of factors stemming from the external institutional and internal managerial environments of the firm. We adopt an inductive approach by firstly analysing two levels of data followed by a conceptualisation based on gained results. We examine data for ten CEECs (all current EU members) for four years 1996, 2000, 2004, and 2008. To examine the characteristics of the institutional and managerial environments of the CEECs and assess their similarities to four benchmarks (UK, USA, Germany, and Japan) we apply a Co-Plot methodology. We find that the presence of an advanced and well developed institutional framework together with the existence of specific managerial conditions is a necessary condition for equity culture development. One could argue that in the CEECs the transition process of institutional conditions necessary for the development of a sound financial system is in place but with some limitations. Furthermore, we find that managers in countries with the best potential for equity culture development are highly motivated, high-skilled people with international corporate experience.
  • Stone, Z. (2013). Equity Culture Development in Central and Eastern Europe: The Conceptual Framework. Economics Letters.

Book section

  • Stone, Z., Filippaios, F. and Stoian, C. (2012). Financial System and Equity Culture Development in Central and Eastern European Countries: The Effect of Institutional Environment. In: Wood, G. and Demirbag, M. eds. The Handbook of Institutional Approaches to International Business. Edward Elgar. Available at: http://www.e-elgar.com/bookentry_main.lasso?id=14207.

Conference or workshop item

  • Pitt, E. and Stone, Z. (2019). Students’ Enactment of Feedback Through a Series of Graded Low-Stake Learning-Oriented Presentations. In: Assessment in Higher Education 7th International Conference.
    For feedback to be effective, students must have opportunities to take action based on information provided. We explored students’ enactment of feedback and enhanced learning behaviours through a series of graded low-stake learning-oriented presentations. 70 final year International Business undergraduate students at a UK university were assessed by peers and staff on eight group presentations each contributing 2.5% to their final grade. This allowed for dialogic peer feedback, presentation skill improvement, knowledge exchange, critique and enactment of feedback in subsequent presentations (Carless, 2013b, Bearman et al, 2014, Nicol et al, 2014). Central to the dialogic nature of the peer feedback interactions was the meaning making and influence this had upon students’ future learning behaviours (Ajjawi & Boud, 2017; Yang & Carless, 2013). Students were surveyed about their experience at the beginning, mid-point and end of the module. Data were thematically analysed.

    At the beginning, students were positive about the challenge of working in groups, but concerned about the amount of work required and their peers work ethic. At the midpoint students reported, their knowledge had deepened. At the end of the module, students felt their presentation skills and confidence had improved. However, they felt the presentations required a lot of work for a small weighting. The students’ perceptions of peer feedback fluctuated. At the beginning, students were positive about the potential for using peer feedback for improvement in their next presentation. At the midpoint and end of the module, the vast majority said they had used peer feedback to address identified weaknesses in their next presentation. A minority suggested peer feedback was superficial and not useable. Most students reflected that the assessment had deepened their approach to learning and their use of feedback in similar assessments in other modules. A few students reported that the feedback was not transferable to other assessments.

    Overall, it appears that many students welcomed the incentive to work throughout the module on multiple, low-stakes presentations, enacted the peer feedback and perceived that their learning had improved. The students’ grade outcomes support these contentions. After presentation one the average grade was 62.6 % (±8.26), at the mid-point of the module the average grade was 70.1% (±8.69) and on the final presentation the average grade was 75.1% (±9.8). These results are an indication that despite the relatively low weighting, an integrated feedback and assessment regime helps students to enact feedback, increases their learning and improves performance.
  • Filippaios, F., Stone, Z. and Kemsley, G. (2017). Internationalisation efforts of SMEs: The role of innovation in moderating Brexit related uncertainty. In: 12th ISGEP Workshop.
  • Filippaios, F., Stone, Z. and Kemsley, G. (2017). UK Return to Borders: The Value of Networks and Innovation for Outward looking SMEs. In: Institute for Small Business and Entrepreneurship 2017.
  • Stone, Z., Filippaios, F. and Stoian, C. (2012). Equity Culture Development in Central and Eastern Europe: The Role of Institutional and Managerial Factors. In: 38th European International Business Academy. Available at: https://www.sussex.ac.uk/webteam/gateway/file.php?name=handbook.pdf&site=342.
  • Stone, Z., Filippaios, F. and Stoian, C. (2012). Equity Culture and Transition Economies: Empirical Evaluation. In: AIB International.
  • Stone, Z., Filippaios, F. and Stoian, C. (2011). Equity Culture Development in Central and Eastern European Countries: A Conceptual and Empirical Examination. In: Academy of International Business, UK & I Chapter.
  • Stone, Z., Filippaios, F. and Stoian, C. (2011). Equity Culture and Transition Economies: An empirical evaluation. In: EIBA.

Monograph

  • Filippaios, F. and Stone, Z. (2017). Kent SME Internationalisation Study. Fragkiskos Filippaios.
    The Kent SME Internationalisation Study 2016/2017 investigates the internationalisation status of SMEs located Kent, UK. The core aims of the study are the understanding of the existing levels of SME international activities; the identification of drivers for and barriers to SME cross-border activities; the assessment of the existing support mechanisms; the initiation of the Brexit impact discussion; and ultimately the provision of recommendations on the increase of internationalisation capacity and activity among Kent businesses. The rationale for the SME focus is due to the significant population of SMEs in the region and their contribution to economic growth, as SMEs create employment opportunities, contribute to achieving higher production volumes, boost exports and drive innovation.
  • Stone, Z., Filippaios, F. and Stoian, C. (2011). Financial System and Equity Culture Development in Central and Eastern European Countries: The Effect of Institutional Environment. Kent Business School Working Paper Series, University of Kent, Canterbury, UK.
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