Search

Introduction: With the development of the digital economy, a multitude of firms have embarked on the path of digital transformation through information technology (IT). Scholars have called for attention to the mediating or moderating mechanisms of IT capability on firm performance. This study argues that further exploration is needed regarding the relationship between IT capability and firm performance. Methods: This study obtained questionnaire data from 152 IT senior managers of randomly selected manufacturing firms. The data was used to empirically test the proposed hypotheses using hierarchical regression analysis. Results: The results showed that IT capability has a positive effect on firm performance directly and indirectly via knowledge stock and knowledge process. Moreover, organizational culture management moderates the relationship between knowledge stock/knowledge process, and firm performance. Discussion: This study proposes the "resources-knowledge-performance" mechanism, which sheds light on the "black box" of how IT capability affects firm performance. This enriches the research on knowledge from different perspectives and the the research on organizational culture by discussing the moderating role of organizational culture management in the relationship between knowledge stock/process and firm performance. Our research also has important managerial implications to firm. [ABSTRACT FROM AUTHOR]

This paper examines the diversification of overseas subsidiaries on innovation performance of the parent company. Based on theoretical analysis and a combined Chinese firm dataset from 2000 to 2013, we find that diversification of overseas subsidiaries positively promotes the parent company innovation performance through the spillover effect of innovation capabilities. In addition, we determine that both the overseas and domestic investment layout can positively moderate the main effect. But there are differences between them. In concrete terms, the domestic investment layout plays a substitution effect in developed areas and acts a more pronounced moderating role in state-owned sample. Besides, the overseas investment layout plays a more important substitutive moderating role on non-state-owned enterprises. This research provides a special insight for studying the reverse spillover effect of OFDI in terms of the contribution of subsidiary linkages and offers several recommendations for multinational corporations to enhance the global competitiveness. [ABSTRACT FROM AUTHOR]

Traditional research on firm performance has predominantly emphasized the role of key departments, often underestimating the potential contributions of non-core departments. This study redresses this oversight by investigating the impact of non-core departments on firm performance. Utilizing a comprehensive 20-year dataset from Chinese A-listed firms and employing the endogenous growth model, we scrutinize the influence of non-core departments on enterprise productivity and organizational growth. Our findings underscore that non-core departments significantly enhance firm performance. Furthermore, we observe a negative coefficient of the interaction term, implying the presence of diminishing returns to scale when amalgamating department diversity with firm knowledge. This suggests that while both department diversity and firm knowledge independently contribute positively to firm performance, their conjoined effect does not necessarily induce a proportionally amplified impact. Moreover, we found that factors such as the company's equity structure, market environment, and the age and education level of executives may moderate the impact of departmental diversity on firm performance. This study enriches the literature by spotlighting the potential of non-core departments in propelling firm success and underlines the imperative for strategies that cultivate interdepartmental collaboration. The implications of these findings propose that firms can leverage the potential of non-core departments for sustainable growth, offering a fresh perspective for future research in organizational development. [ABSTRACT FROM AUTHOR]

Objective: The objective of this study is to test the directly impact of highperformance HR practices on organizational performance, and the mediating effect of organizational ambidexterity empirically. Moreover, the moderating role of organizational learning in the relationship between ambidexterity and specialization in exploitation or exploration on firm performance has also been examined. Ultimately, we construct a moderated mediation model. Methods: Questionnaires were distributed to the target enterprises mainly through the contacts of the research group members, the local management consulting association and the training opportunities for leaders. Finally, a total of 347 CEO questionnaire data were collected from Chinese SMEs. The sample cover Shanghai, Beijing, Chongqing, Jiangsu, Zhejiang, Guangdong, Henan, Sichuan and other eastern and central regions. SPSS 23.0 and AMOS 24.0 were used to analyze the data. Results: The results revealed that high-performance HR practices had a positive effect on organizational performance and that organizational ambidexterity played a partially mediating role between high-performance HR practices and organizational performance. Further, organizational learning moderated the effects of organizational ambidexterity and organizational specificity on firm performance. Discussion: This study provided valuable practical insights. On one hand, this study provides a concrete operational scheme for SMEs in China to realize organizational ambidexterity by integrating a series of HR practices such as employees' ability, motivation and opportunity. On the other hand, through organizational ambidexterity, firms can not only obtain organizational long-term performance by enhancing their new product R & D capabilities, that is, exploratory innovation, but also utilize their existing resources to improve and expand their existing products and services, that is, to achieve short-term performance by exploitative innovation. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to examine the applicability of Bandura's social cognitive theory in predicting organizational performance in dynamic and ambiguous hybrid warfare contexts. Specifically, the study investigated the influence of dyad composition, past performance in peacetime, collective self-efficacy, and persistence on wartime performance among high-ranking police and military commanders. Study design/methodology/approach: One hundred and thirty-eight participants, consisting of police and military commanders, took part in a simulation exercise that escalated from peace to war. The participants were assigned to three types of dyads (N = 69); all-police (n = 20), all-military (n = 27), and mixed police-military (n = 22). The study utilized path analysis to examine the direct and indirect effects of the variables on wartime performance. Results: The model developed in this study accounted for 54% of the variance in wartime performance (R2 = 0.54). Path analysis showed direct effects of persistence (β = -0.33) and peacetime performance (β = 0.45) on actual performance in wartime. Direct effects also showed how persistence was predicted by dyad composition (β = -0.24) and peacetime performance (β = -0.50). Indirect effects indicated how persistence mediated the effects of peacetime performance (β = 0.17) and dyad composition (β = 0.08) on actual performance in wartime. Originality/value: This study contributes to the understanding of how social cognitive factors, as described by Bandura's theory, can predict decision outcomes in collaborative crisis response settings involving police and military commanders. The findings have implications for policy-making and provide recommendations for further research in this area. [ABSTRACT FROM AUTHOR]

Background: business leaders’ social status significantly impacts companies’ strategic direction and performance. Digital transformation, an important tool for companies to enhance competitiveness and resilience, plays an important role in the relationship between executive background and firm performance. Objective: To investigate the impact of celebrity chief executive officers (CEO) on firm performance through digital transformation. Method: Using data from companies listed on the main boards of the Shanghai and Shenzhen Stock Exchanges between 2017 and 2021, this study explored the relationship between celebrity CEOs, digital transformation, and firm performance. Result: Celebrity CEOs significantly enhanced a firm’s digital transformation. However, this effect weakened when controlling shareholders and institutional investors held more shares. Additionally, the study showed that celebrity CEOs can improve firm performance through digital transformation. These findings were robust across a range of sensitivity analyses. Conclusion: This study contributes to understanding celebrity CEOs’ decisionmaking motivations and economic impacts from a psychological perspective while also providing valuable insights for driving digital transformation within companies. [ABSTRACT FROM AUTHOR]

PurposeThis study aimed to examine the applicability of Bandura’s social cognitive theory in predicting organizational performance in dynamic and ambiguous hybrid warfare contexts. Specifically, the study investigated the influence of dyad composition, past performance in peacetime, collective self-efficacy, and persistence on wartime performance among high-ranking police and military commanders.Study design/methodology/approachOne hundred and thirty-eight participants, consisting of police and military commanders, took part in a simulation exercise that escalated from peace to war. The participants were assigned to three types of dyads (N = 69); all-police (n = 20), all-military (n = 27), and mixed police-military (n = 22). The study utilized path analysis to examine the direct and indirect effects of the variables on wartime performance.ResultsThe model developed in this study accounted for 54% of the variance in wartime performance (R2 = 0.54). Path analysis showed direct effects of persistence (β = −0.33) and peacetime performance (β = 0.45) on actual performance in wartime. Direct effects also showed how persistence was predicted by dyad composition (β = −0.24) and peacetime performance (β = −0.50). Indirect effects indicated how persistence mediated the effects of peacetime performance (β = 0.17) and dyad composition (β = 0.08) on actual performance in wartime.Originality/valueThis study contributes to the understanding of how social cognitive factors, as described by Bandura’s theory, can predict decision outcomes in collaborative crisis response settings involving police and military commanders. The findings have implications for policy-making and provide recommendations for further research in this area.

This paper presents a literature review on the topic of organizational performance. The study conceptualizes the overall performance of the organization as comprising of organizational citizenship behaviors (OCB) and counterproductive work behaviors (CWB). While there are numerous research studies on OCB, not many have focused on how OCB and CWB affect organizational performance simultaneously. The paper provides an explanation of the OCB and CWB concepts, followed by the primary research and focus of the study. The article presents a comprehensive framework for understanding the meanings of OCB and CWB, along with an internal hierarchy. This framework will serve as a beneficial resource for working managers, academics, and researchers, who seek to optimize economic productivity through improved understanding and management of OCB and CWB. [ABSTRACT FROM AUTHOR]

In this study, we analyze the role of individual decision-makers in organizational decision-making that is described by the Carnegie perspective. In particular, building on the Behavioral Theory of the Firm, we analyze the influence of decision-makers on organizational responses to performance feedback. Managers in organizations can influence the performance feedback process through their individual experiences. Moreover, they are motivated and controlled by incentives, which is another mechanism by which organizational decision-making can be influenced by individuals. While the Carnegie perspective acknowledges that decision-makers interpret performance feedback and initiate organizational responses, individuals are not as closely integrated to the organizational performance feedback process as some other-mostly organizational-conditions. Recently, several intriguing empirical studies have addressed the role of experience and incentives in the performance feedback process. However, their cumulative eect remained impossible to assess. We meta-analytically review 205 BTOF studies to test our hypotheses on the influence of decision-makers’ experience and incentives on organizational responses to performance feedback. We show that decision-makers’ job experience and domain expertise influence organizational responses to performance below aspirations, while incentives and compensation become relevant when performance is above aspirations. These results highlight the importance of individual decision-makers in explaining variations in organizational performance feedback decisions, oering exciting venues for psychology scholars to contribute to the Carnegie perspective. [ABSTRACT FROM AUTHOR]

Background: A growing number of studies emphasize executive coaching as an effective developmental tool thatmanagers can use to increase their performance in organizational settings. However, the coaching research suggests a large variety of processes and outcomes, lacking clarity on the primary psychological dimensions most impacted. Method: Reviewing 20 studies with a rigorous methodological design that used control trials and pre-post tests, we evaluated and compared the relative effects of coaching on different types and sub-types of outcomes by means of a classification of coaching outcomes based on previously used taxonomies. Results: The results indicate that the impact of coaching on behavioral outcomes was higher compared to attitudes and person characteristics outcomes, suggesting that behavioral coaching outcomes, especially cognitive behavioral activities, are the most impacted by executive coaching. Moreover, we found significant positive effects for some specific outcomes, such as self-efficacy, psychological capital, and resilience, indicating that executive coaching is effective in producing change even on dimensions considered relatively stable over time. The results show no moderation effects of the number of sessions. The length of the coaching program was a significant moderator only for the attitudes outcomes. Discussion: These findings provide evidence that executive coaching is a powerful instrument for organizations to support positive change and personal development. [ABSTRACT FROM AUTHOR]

Introduction: In recent years, job crafting has greatly interested Work and Organizational Psychology. Different research studies have shown its positive impact on people and organizational performance. However, it knows little about the differential effect of the two dimensions that make up this variable (prevention-focused and promotion-focused) and its role in the health-impairment spiral process of the job demand-resources theory (JD-R). Method: This research aims to analyze the mediating effect of the different dimensions of job crafting on the influence of burnout on performance and self-efficacy in the workplace. The study used a sample of 339 administrative employees of a university. Results: The results indicate that promotion-focused job crafting is a mediating variable in the relationship between the influence of burnout on performance and self-efficacy. Unexpectedly, prevention-focused job crafting does not have this mediating role in the same relationship. Discussion: These findings confirm the adverse impact of burnout on personal and organizational improvement, while showing the absence of prevention/protection responses of employees when they are burned out. The theoretical and practical implications show an advance in knowledge about the process of health deterioration and about the spiral of health deterioration in the JD-R theory. [ABSTRACT FROM AUTHOR]

Interactive performance measurement systems (PMSs) play a critical role in shaping individual behavior and performance. To identify the underlying mechanism of how PMSs enhance organizational performance, a proposed model was constructed to investigate psychological empowerment and employee creativity as possible mediating variables. Based on a sample of 211 managers from Chinese organizations, a partial least squares structural equation modelling (PLS-SEM) approach was used to examine the mediating effect presented in the aim. Interactive use of PMS has a positive and direct impact on psychological empowerment. Psychological empowerment positively influences creativity, which, in turn, positively influences organizational performance. The findings also show that psychological empowerment and creativity mediate the impacts of interactive use of PMS on organizational performance. Our study highlights the role of PMSs, and how to use them interactively in turbulent environments. Particularly, we demonstrate that interactive use of PMS is important for facilitating a manager’s sense of psychological empowerment and fostering creativity, which, in turn, contributes to better performance and greater competitive advantages. [ABSTRACT FROM AUTHOR]

There is growing evidence that CEOs who have the 'dark triad' of personality traits (Machiavellianism, narcissism, and psychopathy) detrimentally influence firm performance. However, there is still much we do not know. The present study suggests that the CEO dark triad might directly influence typical performance indicators in different ways: positively affecting external performance indicators (breakthrough sales), but negatively affecting internal performance indicators (organizational performance). We argue that the CEO dark triad can be interpreted differently by those external to the firm versus internally, where managers are much closer to the CEO's dark personality. Our model includes managerial capital as a mediator and competitive rivalry as a moderator, and ultimately tests a moderated mediation model. Using data from 840 New Zealand firms, we find that the dark triad links to outcomes, as expected. While the CEO dark triad is negatively related to managerial capital, managerial capital does positively predict both performance indicators, and partially mediates the CEO dark triad effect. Overall, moderating effects highlight that the CEO dark triad is less detrimental in fiercely competitive business environments, acting as a consistent boundary condition across models. As competitive rivalry increases, the indirect effect of the CEO dark triad on performance decreases. We discuss the implications for understanding the role that the CEO dark triad can play in firms. [ABSTRACT FROM AUTHOR]

The Environmental Cooperation System (ECS) is a new exploration of the government's spatial environmental policy to meet the requirements of green and sustainable development, so it is very important to scientifically evaluate its green innovation effect. Based on China's A-share listed companies from 2006 to 2021, from the perspective of corporate ESG performance, we apply the multidimensional fixed-effects difference-in-differences (DID) model, and empirically test the impact, mechanism, and heterogeneity of the Environmental Cooperation System of Shenzhen-Dongguan-Huizhou Metropolis (ECS-SDHM) on corporate green innovation. It found that ECS-SDHM can significantly improve corporate green innovation, and the policy effect is more significant in the private enterprise group. Secondly, we use ESG rating score and decomposition indicators to deeply analyze the green innovation effect mechanism of ECS-SDHM from the perspective of ESG performance. The results show that ECS-SDHM can enhance corporate green innovation by significantly improving corporate ESG performance, environmental governance, and social governance. Further research found that both corporate environmental social responsibility and executives' overseas backgrounds can positively moderate the green innovation effect of ECS-SDHM by positively moderating the ESG performance mechanism. [ABSTRACT FROM AUTHOR]

BackgroundA growing number of studies emphasize executive coaching as an effective developmental tool that managers can use to increase their performance in organizational settings. However, the coaching research suggests a large variety of processes and outcomes, lacking clarity on the primary psychological dimensions most impacted.MethodReviewing 20 studies with a rigorous methodological design that used control trials and pre-post tests, we evaluated and compared the relative effects of coaching on different types and sub-types of outcomes by means of a classification of coaching outcomes based on previously used taxonomies.ResultsThe results indicate that the impact of coaching on behavioral outcomes was higher compared to attitudes and person characteristics outcomes, suggesting that behavioral coaching outcomes, especially cognitive behavioral activities, are the most impacted by executive coaching. Moreover, we found significant positive effects for some specific outcomes, such as self-efficacy, psychological capital, and resilience, indicating that executive coaching is effective in producing change even on dimensions considered relatively stable over time. The results show no moderation effects of the number of sessions. The length of the coaching program was a significant moderator only for the attitudes outcomes.DiscussionThese findings provide evidence that executive coaching is a powerful instrument for organizations to support positive change and personal development.

As strategic assets for organizations, information systems (IS) have been adopted to enhance organizational knowledge performance. Based on the absorptive capacity perspective, we investigated intertwined relationships among IS adoption, organizational capabilities, IS-enabled absorptive capacity, and organizational knowledge performance. We empirically examined our model with survey data from 417 IS employees of 21 different state governments in the United States. We find that: (1) IS adoption does not directly generate IS-enabled absorptive capacity; (2) organizational capabilities positively affect IS-enabled absorptive capacity; (3) synergies arising from complementarity between IS adoption and organizational capabilities have a positive impact on IS-enabled absorptive capacity; and (4) IS-enabled absorptive capacity significantly drives manager and employee knowledge performance. This research enriches the understanding of the relationships among IS adoption, organizational capabilities, and organizational knowledge performance in U.S. public sectors. [ABSTRACT FROM AUTHOR]

Due to the increasingly prominent environmental problems caused by excessive carbon dioxide emissions, many countries have put forward higher requirements for the green development of enterprises. Therefore, how to improve the green performance of enterprises has become a hot issue. Based on the social learning perspective, we examine the impact of environmentallyspecific servant leadership on organizational green performance and test the mediating role of green creativity and the moderating role of power distance orientation. We test the theoretical framework by means of a questionnaire survey with a research sample of employees and their leaders working in the eastern coastal region of China. The results of the study suggest that: environmentally-specific servant leadership has a positive influence on organizational green performance; green creativity plays a mediating role between environmentally-specific servant leadership and organizational green performance; power distance orientation plays a moderating role between environmentally-specific servant leadership and green creativity; specifically, the higher the power distance orientation, the more significant the influence of environmentally-specific servant leadership on employees' green creativity. This study enriches the research on environmentally-specific servant leadership and proposes a new perspective on how to improve green performance in organizations. [ABSTRACT FROM AUTHOR]

This study empirically investigates the moderating effect of board activeness on the relationship between the structure of corporate ownership and firm performance. The objective was evaluated using the hierarchal panel regressions with data from non-financial companies of the Pakistan Stock Exchange from 2009 to 2018, operationalizing the ownership structure as state ownership, associated companies, foreign ownership, ownership concentration, institutional ownership, and family ownership, and firm performance as operating performance, financial performance, and stock market performance. The findings of the study revealed that operating, financial, and stock market performance were favorably influenced by the ownership stakes of the state, associated concerns, institutions, and foreigners. Family interests proved to be diverse for the firm performance. The isolated effect of the board consistently uplifted the firm productivity, but its interactional impact with all the ownership stakeholders postulated differential outcomes for internal and external performance. The study provides valuable insights for policymakers and investors to make optimal strategies to manage ownership interests and enhance value. [ABSTRACT FROM AUTHOR]

As the global challenges facing sustainability issues continue to expand, the issues of corporate social responsibility (CSR) and ethical governance have become the focus of continued academic attention. CSR is important for firms to enhance their reputation and promote sustainable development. Using A-share listed firms from 2012 to 2019, this study empirically investigates the effect of CSR fulfillment on internal control and firm financial performance by constructing a regression model. The results show that there is a positive relationship between CSR and firm financial performance. Therefore, CSR fulfillment effectively improves the firm financial performance. Furthermore, this study finds that there is a partial mediating effect of internal control between CSR fulfillment and firm financial performance. Therefore, good internal control leads the firm to implement CSR, strengthen management, and improve financial performance. Further results show that the nature of ownership plays a moderating role in the mediating effect of internal control. This study enriches the mechanism of CSR on firm financial performance. Furthermore, it provides a theoretical basis for Chinese listed firms to fulfill CSR, improve ownership, and strengthen internal control. [ABSTRACT FROM AUTHOR]

Introduction: A systematic review is conducted in the study to investigate the relationship between telework and organizational economic performance indicators such as self-reported employee performance, organizational performance, actual employee turnover rates, or intentions. Methods: The databases Scopus, Business Source Premier, and Web of Science were used to conduct a literature search. Original articles published from 2000 and up to May 2021 were selected. Studies were screened for inclusion independently by review pairs and data were extracted. The Mixed Methods Appraisal Tool (MMAT) was used to evaluate the quality of the studies included. Results: Forty-three studies were included with some addressing multiple outcomes. Self-reported performance was higher for teleworking employees compared to those working in the ordinary workplace. The extent of the change in performance was dependent on individual characteristics and the extent of the teleworking practice in the organization. Telework was also associated with increased organizational performance, particularly in homogenous samples with unique work tasks. When telework is voluntary, it appears that both actual employee turnover rates and intentions to leave the organization are lower. Discussion: Further research with high-quality prospective designs is necessary to properly understand the contribution of telework to organizational economic performance indicators. [ABSTRACT FROM AUTHOR]

In order to further implement the goal of “dual carbon” proposed by China’s government, and promote energy enterprises to carry out low-carbon economic transformation, this paper takes listed companies in China’s A-share energy industry from 2014 to 2019 as samples to conduct descriptive statistics, correlation test and regression analysis, and empirically studies the impact of carbon performance and technological innovation on financial performance of China’s energy industry as well as their roles under different property rights. At the same time, the variables were delayed for one period to investigate the sustainability of carbon performance and technological innovation on financial performance and to weaken the endogeneity of the reverse causality between financial performance, carbon performance and technological innovation. The results show that good carbon performance and technological innovation in the energy industry can positively affect the financial performance of enterprises. During the research of interactive relationship, we find that carbon performance and technological innovation have synergistic effect on energy firm’s financial performance, which means technology innovation can significantly positive to adjust the action of carbon performance on financial performance, and carbon performance at the same time can also be positive to adjust the action of technology innovation on financial performance. They mutually promote energy enterprise’s financial performance. Further experimental research among different propertyrights-owned enterprises, we found that the synergistic effects of carbon performance and technological innovation on corporate financial performance is much more significant in non-state-owned enterprises, possibly due to private firms’ capital profit-seeking nature. The results will guide and inspire China’s energy enterprises’ low carbon development strategy formulation and implementation under the background of “dual carbon” goal. [ABSTRACT FROM AUTHOR]

This study investigates the effect of CSR activities on business performance of small- and medium-sized enterprises (SMEs) in South Korea setting. Based on upper echelons theory and stakeholder theory, the study further examines CEO tenure as a potential moderator between CSR activities and business performance. The study considers four dimensions of CSR (economic, legal, ethical, and philanthropic) and two types of business performance (financial and non-financial). To test the moderating effect of CEO tenure, we divided the sample into two groups: companies with short-term tenured CEOs and long-term tenured CEOs. The data were collected from 443 CEOs of SMEs in South Korea. We used a multi-group analysis with SmartPLS 4. The study finds that CEO tenure moderates the relationship between dimensions of CSR and business performance. More specifically, the study finds that CEOs in earlystage tenure focus on philanthropic activities to drive financial performance, while their counterparts focus on economic/legal dimension. CEOs, regardless of the length of tenure, consider the philanthropic dimension helpful for improving both financial and non-financial performance. This study expands prior research by examining the relationship between CSR and business performance in SMEs, considering the impact of the CEO tenure. The findings of this study make contributions to the literature by demonstrating that CEO tenure is an important factor in linking CSR to business performance. This research also adds evidence to the CSR literature that economic and legal dimensions are considered mandatory responsibilities, and CEOs of SMEs view them as interconnected. For practical implications, this study identifies different predictors of financial performance for companies with short-term vs. long-term CEO tenure. Short-term CEOs focus on philanthropy to improve financial performance, and both long- and short-term CEOs believe that philanthropy affects the company’s financial and non-financial performance. [ABSTRACT FROM AUTHOR]

Global warming and air pollution are severe threats to humans and ecosystems. While some of these issues, particularly those on a small scale requiring low-cost behaviors, may be relieved by developing and implementing environmental policies, it is clear that legislative measures and behaviors requiring a significant degree of sacrifice are required. The goal of this research is to highlight the aspects that can contribute to improve organizational performance in Pakistan’s textile industry. Through the moderating function of environmentalism, the study examines the impact of public participation, government regulation, and organizational environmental management systems (EMSs) on environmental and organizational performance The findings show that public participation, government regulation, and the organizational EMS all have a significant impact on both environmental and organizational success. Data were collected via a survey questionnaire. Smart-PLS-3 was used to evaluate the data. Furthermore, if environmentalism is regarded as a moderator, the overall influence on organizational performance will be greater. Public participation, government regulations, and an organization’s EMS are all seen to have a substantial influence on both environmental and organizational success. [ABSTRACT FROM AUTHOR]

This study explores the relationship between the compensation gap within the top management team (TMT) and corporate performance. We focus on how the fairness preference of the TMT moderates this relationship. The existing researches on the relationship between the compensation gap within the TMT and corporate performance are inconclusive. The reason may be that the traditional tournament theory is based on the hypothesis of self-interest preference of homo economicus. In the research, the fairness preference theory is added to the traditional tournament model, and a more realistic tournament model considering fairness preference is constructed. Based on the analysis of the theoretical model and the empirical regression analysis of the panel data of 733 non-financial A-share listed companies in Shanghai and Shenzhen stock markets from 2014 to 2020, we draw the following main conclusions: (1) There is an inverted U-shaped relationship between the TMT compensation gap and the corporate performance. Within the optimal compensation gap, there is a significant positive correlation. The larger the compensation gap, the better the corporate performance will be. When the optimal compensation gap is exceeded, there is a significant negative correlation. The larger the compensation gap, the worse the corporate performance will be. (2) The fairness preference of the TMT will weaken the correlation between the TMT compensation gap and corporate performance.Within the optimal compensation gap, the fairness preference will weaken the positive relationship between them, and when it exceeds the optimal compensation gap, the fairness preference will also weaken the negative relationship between them. [ABSTRACT FROM AUTHOR]

Background: Emotions play a decisive and central role in the workplace, especially in the service-oriented enterprises. Due to the highly participatory and interactive nature of the service process, employees' emotions are usually highly volatile during the service delivery process, which can have a negative impact on business performance. Therefore, it is important to effectively judge the emotional states of customer service staff. Methods: We collected data on real-life work situations of call center employees in a large company. Three consecutive studies were conducted: first, the emotional states of 29 customer service staff were videotaped by wide-angle cameras. In Study 1, we constructed scoring criteria and auxiliary tools of picture-type scales through a free association test. In Study 2, two groups of experts were invited to evaluate the emotional states of customer service staff. In Study 3, based on the results in Study 2 and a multimodal emotional recognition method, a multimodal dataset was constructed to explore how each modality conveys the emotions of customer service staff in workplace. Results: Through the scoring by 2 groups of experts and 1 group of volunteers, we first developed a set of scoring criteria and picture-type scales with the combination of SAM scale for judging the emotional state of customer service staff. Then we constructed 99 (out of 297) sets of stable multimodal emotion datasets. Based on the comparison among the datasets, we found that voice conveys emotional valence in the workplace more significantly, and that facial expressions have more prominant connection with emotional arousal. Conclusion: Theoretically, this study enriches the way in which emotion data is collected and can provide a basis for the subsequent development of multimodal emotional datasets. Practically, it can provide guidance for the effective judgment of employee emotions in the workplace. [ABSTRACT FROM AUTHOR]

Although there have been numerous studies on the relationship between corporate philanthropy and corporate financial performance (CFP), theoretical analysis focusing on the legitimacy-based mechanism and the moderating role of key executives' psychological characteristics is scarce. Hometown attachment is a special form of place attachment in environmental psychology, which reflects people's psychological attachment to their hometown and the state of maintaining an intimate emotional connection with it. Based on Scott's three-pillar institutional perspective, this study traces its origins from the Chinese cultural context, and discusses the legitimacy basis of donations in the Chinese cultural context and why donations can improve CFP. On this basis, the moderating effect of the chairman's hometown attachment on the corporate donation-performance relationship is empirically tested. Through logical deduction, hometown attachment may form legitimacy pressure to weaken the above relationship or leverage more legitimacy resources to strengthen such a relationship. Which effect dominates? The empirical results in this study of A-share listed firms from 2009 to 2018 show that the moderating role of hometown attachment is more in line with the resource theory than the former pressure theory. Further research shows that the government and consumers are important providers of these legitimacy resources. This study reveals the mechanism for legitimacy acquisition through corporate donations in the Chinese context and answers the question of what the chairman's hometown attachment brings about to their donation performance, providing some inspiration for practice. [ABSTRACT FROM AUTHOR]

In the highly competitive Chinese construction market, developing a strategic orientation alone fails to maintain the sustainable competitive advantage of firms. In this paper, the mechanism of strategic orientation and business model innovation on corporate performance in a dynamic environment is investigated. Based on a sample of 356 Chinese construction firms, the partial least squares structural equation modelling (PLS-SEM) was adopted to test the hypotheses. It is found that entrepreneurial orientation and market orientation affect corporate performance differently. Unlike market orientation, which directly affects corporate performance, entrepreneurial orientation through business model innovation exerts influence instead of direct affection. Business model innovation plays a fully mediating role between entrepreneurial orientation and corporate performance and partially between market orientation and corporate performance. Meanwhile, environmental dynamism can positively moderate the relationship between business model innovation and corporate performance. This paper deepens the research on strategic orientation, business model innovation and corporate performance. The findings can provide a reference for construction firm managers to develop strategies and conduct business model innovation, which can finally help seek sustainable development in a dynamic environment. [ABSTRACT FROM AUTHOR]

Servitization innovation is critical for manufacturing firms to strengthen their sustainable competitive advantage in a dynamic business environment. Current research on the relationship between servitization and firm performance has matured, but many conclusion remain divergent. That cannot only hinder the development of servitization theory, but also make manufacturers lack a scientific basis for deciding whether to develop servitization. Thus, this study aims to systematically analyze the quantitative research results in this field through Meta-analysis methods to reveal the reasons for the disagreement. After collecting 59 independent articles on servitization and firm performance, this study performed statistical analysis using Meta-analysis. Then, the relationship between servitization and firm performance was explored, as well as the effects of different potential moderating variables. The moderate positive relationship between servitization strategies and their different orientations and firm performance is found. For the moderating variables, the servitization strategy has a more significant effect on non-financial performance. And they are more correlated when there are mediator variables. The impact of firm servitization transformation in developing regions is better than in developed areas. A stable market environment is more beneficial to the servitization transformation. The transformation effect of high-tech manufacturing is better than that of traditional manufacturing. And the transformation effect of large companies is better than that of small and medium-sized companies. [ABSTRACT FROM AUTHOR]

This study aims to reveal the impact of proactive personality on career success (i.e., subjective career success, salary, and promotion) and the sequential mediation effect of organizational citizenship behavior (OCB) and task performance on the relationship. Utilizing meta-analytic structural equation modeling (MASEM) technology sampling 101,131 employees from multiple organizations and industries, which deeply decreased sampling error, the results indicated slightly different findings of proactive personality and three types of career success. Specifically, in relation to salary, OCB and task performance independently transmit the effects of proactive personality to subjective career success, but they sequentially mediate this link as well. In regard to subjective career success and promotion, OCB (but not task performance) mediates the relationship between proactive personality and promotion. OCB and task performance sequentially mediate these links. We discussed findings cautiously and purpose future research directions. [ABSTRACT FROM AUTHOR]

Exploring the relationship between characteristics of the source of knowledge and knowledge transfer performance seems to be crucial in order to make up for the lack of research on the political skills of knowledge sources in the process of knowledge transfer. For this reason, this study conducts a paired-sample questionnaire survey to achieve the research purpose. One direct supervisor was paired with 1x4 subordinates; 274 other-reported questionnaires were sent out to supervisors and 1,096 selfreported questionnaires to subordinates. A total of 214 valid supervisor questionnaires and 630 valid subordinate questionnaires were collected. The finding demonstrates that knowledge sources with political skills can reduce knowledge barriers to knowledge transfer as well as affect knowledge transfer performance. This research presents a valid model that comprises the antecedents (characteristics of the knowledge source), mediators (knowledge barriers), moderators (political skill), and consequences of knowledge transfer performance of firms. Moreover, this study provides several meaningful directions for future research. [ABSTRACT FROM AUTHOR]

Given the importance of social capital for the success of knowledge-intensive firms (KIFs), scholars have investigated how social capital promotes product innovation through knowledge transfer. However, in contrast to the quantity of transferred knowledge, the role of knowledge quality has been largely ignored. Drawing on the knowledge-based view (KBV) of the firm, this study explores the influences of structural, relational, and cognitive social capital on product innovation and the mediating role of knowledge quality. A questionnaire-based survey was conducted from firm executives and core members of R&D department and data of 159 Chinese KIFs were obtained. Partial least squares-structural equation modeling was used for hypotheses testing. The results reveal that relational capital and cognitive capital have positive effects on product innovation performance, which are mediated by knowledge quality. However, the effect of structural social capital on knowledge quality is not significant. The results contribute to literature on firm innovation by examining how social capital indirectly affects product innovation performance through the quality of transferred knowledge. Moreover, the conclusions can help top management of KIFs to design more effective informal knowledge management approaches according to differentiated effects of three types of social capital on knowledge quality. [ABSTRACT FROM AUTHOR]

In this study, we empirically examine the gender dimension of the effect of formal finance on enterprise performance. While the literature suggests that formal finance, in general, improves firm performance, this effect may differ across firms headed by male and female entrepreneurs since the latter are faced with more severe social, economic, and financial constraints, which undermine their firm performance. Consequently, the effect of finance on firm performance is expected to be weaker in female-headed enterprises. So far, there is little evidence as to whether a gender gap exists regarding the effect of formal finance on firm performance, especially among small household enterprises. To fill the gap in the literature, we use the Ghana Living Standards Survey 2016/2017 and study the effect of formal credit on the productivity of male-headed and female-headed non-farm household enterprises in Ghana. Our results show that a positive effect of formal credit on labor productivity is only found in male-headed enterprises, but not in female-headed ones. We suspect that this result may be explained by women’s relatively less endowment in conditional factors, such as skills, knowledge, experiences, and capabilities. [ABSTRACT FROM AUTHOR]

Resistance to innovation is a behavioral barrier to implementing innovation in any organization. It is associated with employees’ demotivation to adopt new technologies. Strategic orientation toward digitalization is a new dimension in shaping innovative organizational performance. It is also evident from past studies that certain employees’ capabilities are associated with organizations’ strategic orientation when undergoing digitalization. This study examines the relationship between these factors and achieving innovative organizational performance. First, it looks at how strategic orientation toward digitalization relates to digital capabilities, which include digital knowledge and innovation. This study also examines how capabilities affect strategic orientation toward digitalization and innovative organizational performance. Moreover, the negatively regulating role of resistance to innovation as a moderator is also tested between capabilities and innovative organizational performance in this research. The authors discovered a connection between strategic orientation towards digitalization and innovative organizational performance in their research. A Likert scale with five points was used to quantify the responses, and the points ranged from 1 to 5 on the scale, with one being strongly disagreed and five strongly agreed. The findings of the study also show that digital knowledge capability and innovation capability have a substantial impact on innovative organizational performance. The research also discovered that employees’ resistance to innovation exerts a sizeable moderating influence on the connection between digital knowledge competence and innovation capability within the innovative organizational performance. The study’s results show that businesses must have a strategic focus on digitalization if they want to improve their ability to come up with new ideas and their digital knowledge skills, which are both critical for the growth of the entrepreneurial system. The model that has been proposed is available to entrepreneurs so that they can apply it in their businesses to advance the entrepreneurial system appropriately. The authors present a theoretical model for entrepreneurial systems based on the strategic orientation towards the digitalization approach. This model is something that entrepreneurs could utilize to improve the performance of their organizations as a whole. In addition, the employee’s resistance to innovation is used as a moderator in the model, which is another innovative method. The research contributes new and essential information to the existing literature on innovative organizational performance. [ABSTRACT FROM AUTHOR]

This study is based on the natural resource based view, which examines the impact of holistic marketing orientation on business performance (BP) by defining the role of enablers and mediators. The drivers, including corporate social responsibility (CSR) and environmental culture (EC) influence, are tested by analyzing the role of sustainable competitive advantage (SCA) as a mediator. The analysis is based on 298 samples collected from top and middle-level managers working in the pharmaceutical industry. Structural equation modeling was undertaken using Smart PLS 3.2.8. The research outcomes reveal that corporate social responsibility and environmental culture have a substantial impact on green marketing orientation (GMO). The results show that GMO has a significant direct and indirect impact on business performance while a fullmediation of sustainable competitive advantage exists between the green marketing orientation and business performance. The outcomes will facilitate managers in green marketing strategy and decision making in the long-term, with 3-fold benefits in addition to strengthening their competitiveness. [ABSTRACT FROM AUTHOR]

This paper mainly explores the effect of naive independent directors on firm performance. Using hand-collected data on Chinese listed companies, this study finds that the proportion of naive independent directors is positively associated with firm performance, and an increased proportion of naive independent directors reduce the probability of tunneling of controlling shareholders and financial distress. The findings are robust after using alternative explanatory variables and retro-causality tests. Furthermore, the relation between naive independent directors and firm performance mainly existed in firms with lower shareholdings of the largest shareholder and firms with lower financial leverage. Moreover, this paper finds that firm size, corporate ownership type, and equity balance degree are important factors affecting the appointment of naive independent directors. This paper offers further empirical evidence to the existing research related to naive independent directors and provides an effective way to improve corporate board governance. [ABSTRACT FROM AUTHOR]

Global warming and air pollution are severe threats to humans and ecosystems. While some of these issues, particularly those on a small scale requiring low-cost behaviors, may be relieved by developing and implementing environmental policies, it is clear that legislative measures and behaviors requiring a significant degree of sacrifice are required. The goal of this research is to highlight the aspects that can contribute to improve organizational performance in Pakistan’s textile industry. Through the moderating function of environmentalism, the study examines the impact of public participation, government regulation, and organizational environmental management systems (EMSs) on environmental and organizational performance The findings show that public participation, government regulation, and the organizational EMS all have a significant impact on both environmental and organizational success. Data were collected via a survey questionnaire. Smart-PLS-3 was used to evaluate the data. Furthermore, if environmentalism is regarded as a moderator, the overall influence on organizational performance will be greater. Public participation, government regulations, and an organization’s EMS are all seen to have a substantial influence on both environmental and organizational success.

This paper investigates the correlation between the quality of corporate social responsibility disclosure (CSRD) and financial performance (FP). It also investigates the moderating role of chief executive officer power (CEOP) in the relationship between the quality of CSR disclosure and firm value (FV) in Chinese listed companies. The evidential research used the up-to date sample (3, 248) of unbalanced findings for the period of 2014–2020, from the registered Chinese firms in the Shenzhen and Shanghai Stock Exchanges as samples for the study. As a starting point technique, the STATA 15 has been used to test pooled ordinary least squares (OLS) regression on a sample of Chinese listed companies. We use 1-year lagged regression and two SLS regressions to monitor the potential endogeneity problem. The imbalanced data set was received from the China Stock Market and Accounting Research (CSMAR) web page, which is the most significant source of information for Chinese publicly listed firms. Data on CSR information items and media reporting are compiled manually. The findings of the study revealed that there are positive FP consequences for the companies engaged in the quality of CSR disclosure. We also report that higher CEO power negatively enhances the quality of CSR disclosure effect on the FP of FV. The research investigates the impact of CSR disclosure and FP by presenting evidence of the moderating role of CEO power. Therefore, it is suggested that a higher law for CSR engagement and disclosure be implemented in China, and robust measures for the implementation of CEO power, although there are financial advantages to be gained. A key relevance to the empirical quality of CSR disclosure research can be recognized as the moderating role of CEO power in the quality of CSR disclosure, FP, and FV in the context of Chinese study. The findings are robust with the use of an instrumental variable method. [ABSTRACT FROM AUTHOR]

In today's competitive business market, firms that collaborate on a coopetition basis face obstacles in the form of decision-making, dependency, and trust in their competitor partners. This current study is the only one that has examined the relationship between coopetition and firm performance; yet, this relationship appears to be unclear due to the impact of trust and dependency on coopetition. This study investigates the impact of coopetition on firm performance by examining the mediating effects of decision-making and open innovation on firm performance. There are 230 sets of data that were collected from the employees of Chinese small- and medium-sized enterprises through the survey method, and the data were analyzed using Partial Least Square-Structural Equation Modeling. The findings of this study indicated that open innovation has a significant mediation effect between coopetition and firm performance, and that decision-making is also an important mediating effect in bridging the relationship between coopetition and firm performance. By considering these mediators, the findings revealed that the coopetition has a significant impact on firm performance through decision-making and has a significant effect on firm performance through increasing open innovation. The findings also revealed that decision-making played a significant role in mediating the relationship between coopetition and firm performance, which in turn specified a statistically significant positive relationship with decision-making that mediated a positive relation. According to the findings of this research, modern business firms should recognize the relevance of coopetition-based open innovation in their business processes to increase their overall performance. This study is significant because it provides a game-changing strategy for the management of businesses. [ABSTRACT FROM AUTHOR]

This study explores the relationship between capability reconfiguration and firm innovation performance by analyzing a sample of 375 manufacturing firms in China. The results suggest that the relationship between capability reconfiguration and innovation performance is affected by both the catch-up stage and the mode of capability reconfiguration (evolution or substitution). The catch-up stage of enterprises significantly impacts the moderating effects of innovation magnitude on the relationship between capability substitution and firm innovation performance, however, it has no obvious effects on the moderation of innovation magnitude on the relationship between capability evolution and innovation performance. This study contributes to the theory of dynamic capability and catch-up by revealing how innovation magnitude affects capability reconfiguration and subsequent innovation performance in different catch-up stages. The implication of this study is to remind managers to take full account of the innovation magnitude and catch-up stage in their decision-making. [ABSTRACT FROM AUTHOR]

This study intended to examine the effect of information technology (IT) investment and corporate governance mechanism on the performance of the Saudi telecommunication sector with mediating role of corporate social responsibility (CSR). A survey method was used to collect data from the targeted Saudi telecom firm. Results show that corporate governance practices, i.e., internal audit, internal audit committee, and internal board size, have a significant and positive relationship with firm performance. Furthermore, IT investment positively affects the performance of Saudi telecommunication firms. Moreover, CSR mediates the relationship among internal audit, internal audit committee, internal board size, IT investment, and firm performance. This study contributes to the body of knowledge regarding IT investment, corporate governance mechanism, corporate social responsibilities, and firm performance of telecommunication firms in emerging markets. Furthermore, this study will help the top management of the telecom firms to improve corporate governance and IT investment, which will be beneficial to enhance firm performance. [ABSTRACT FROM AUTHOR]

A growing body of research has focused on the relationship between board diversity and firm performance. A series of empirical literatures have also examined a significant positive correlation between the two. But these results only demonstrate the relationship between the input of 'diversity' and the output of 'firm performance'. Such research is more of a black box because board diversity must act on certain strategies or decisions to affect firm performance. Some scholars try theoretical analysis with the purpose of opening the black box. In order to verify the relevant theoretical analysis results, this study uses the mediating effect analysis model in the field of psychology, through multiple regression, impulse analysis, variance decomposition and other methods, to thus empirically test the mediating effect of technological innovation in the process of board diversification promoting corporate performance. We found that board diversity can improve firm performance by enhancing the level of technological innovation. Among them, technological innovation has played a complete mediating role in the diversity of board members' functional and occupational background, and played a partial mediating role in the diversification of directors' part-time jobs. Technological innovation is a key indicator bridging board diversity and firm performance. This study can explore and explain the inner workings of the significant relationship between board diversity and firm performance, and link research findings on similar phenomena. The research results may make the existing board governance theories more systematic, expand the extension of theoretical research, and provide some empirical research references for academics and practitioners. [ABSTRACT FROM AUTHOR]

Stakeholder pressure and public awareness of environmental protection drive organizations to improve environmental practices in the supply chain (SC), such as green supply chain integration (GSCI) and green innovation (GI). The use of information technology (IT) is crucial to manufacturing organizations' GSCI and performance. However, the research on the relationship between IT capabilities, GSCI, GI and organizational performance is still limited. Therefore, empirical research is needed on the cognitive thinking of employees using IT capabilities to improve GSCI and organizational performance. The data for this study comes from SC personnel in manufacturing organizations through a structured questionnaires and was analyzed by employing structural equation modeling. Based on the results, this paper concludes that organizational IT capabilities positively affect the GSCI and improve organizational performance (environmental and operational performance). Furthermore, the study discovered that GI increases organizational performance and acts as a positive mediator in the link between GSCI and performance. The findings contribute to existing GSCI and GI knowledge, which can provide a bird's eye-view to develop an organization's IT capabilities to achieve competitive performance goals. [ABSTRACT FROM AUTHOR]

In recent years, with the development and progress of text information research, the disclosure of non-financial and qualitative information has often be found to have an incremental function. Financial reports, including financial statements and other relevant information, provide important insights on an enterprise's financial status, operating results, and cash flow. Faced with a large number of financial reports, readers often do not know where to start, and as financial statements are prepared based on past transactions, they cannot fully reflect the past, present, and future economic conditions of the company. Information asymmetry and uncertainty make the text mining of financial reports of great significance to enterprise stakeholders. Accordingly, this paper takes financial reports as the research object and builds a research framework on the relationship between subjective expression in financial reports and company performance. Through natural language processing, sentiment analysis, and other text-mining technologies, the paper quantifies the subjective expression in financial reports and introduces intermediaries. Variables, moderating variables, and control variables are used to construct a multiple regression model. The empirical results show that the underlying emotional tendencies in subjective expressions substantially impact on the future development of listed companies. This paper enriches understanding of the multi-dimensional relationship between financial report text and company performance, and provides ideas for further exploring this relationship. It is of great practical significance to help them make rational decisions and ensure the normal operation of the company and the preservation and appreciation of capital. [ABSTRACT FROM AUTHOR]

Based on the theory of strategic alliances and social networks, this article empirically studies the relationship between partnership, information sharing, and sustainable performance through a questionnaire survey of Chinese sports equipment manufacturers. The findings show that partnerships have a positive impact on sustainable performance; that information sharing plays a role in mediating the relationships between trust, cooperation, and sustainable performance; and that government support can positively impact the effect of partnerships on sustainable performance. Through empirical research, this article proves the mechanism of the impact of partnership on alliance performance, further expands the theoretical basis for enterprises' establishment of strategic alliances, and has important enlightening significance for enterprises within alliances aiming to rationally use the networks inside and outside their alliances to obtain knowledge and resources and improve their sustainable performance. [ABSTRACT FROM AUTHOR]

In this study, we examine the effects of firms' corporate social responsibility (CSR), technological innovation, and advertising intensity on corporate financial performance (CFP). Prior research has shown mixed findings for the CSR-CFP relationship. To provide additional evidence and alternative explanations for these mixed findings, we built a moderated mediating model by combining the knowledge-based view with the stakeholder theory. We use this model to examine whether CSR influences CFP by affecting technological innovation, and whether such mediating effects are moderated by advertising intensity. We classify heterogeneous CSR activities into technical and institutional activities. Using data from 2010 to 2018 on Chinese listed firms, we find that superior technical CSR performance can enhance CFP by promoting technological innovation and that it promotes technological innovation to a greater extent when advertising intensity is higher. However, institutional CSR does not affect technological innovation or CFP. The findings suggest that to improve the firm's financial position, its resources should be allocated effectively to technical CSR activities as well as to innovation and advertising. [ABSTRACT FROM AUTHOR]

In the context of the organizational crisis caused by COVID-19, scholars and professionals have focused on factors that help employees stay at their jobs and perform well. In an uncertain era, grit is a significant employee and organizational sustainability trait. Using 890 responses, this study determined how grit affects organizational performance and used contingencies including supportive climate and transformational leadership as moderators. The hypotheses were tested by examining the relationship between grit and organizational performance and the moderating effects of supportive climate and transformational leadership. Further, these hypotheses were supported by confirmatory factor analysis, PROCESS macro analysis, and bootstrapping. Grit was found to be positively associated with organizational performance; meanwhile, supportive climate and transformational leadership strengthen the relationship between grit and performance. Both theoretical and practical implications of the findings are discussed. This study makes a theoretical contribution through its assessment of the impact of grit on organizational performance. Trait activation theory can explain how grit can be expressed through organizational climate and leadership. With regard to practice, grit can be used as a vital factor for personnel selection and a supportive climate should be provided to ensure a desirable organizational climate. [ABSTRACT FROM AUTHOR]

The primary purpose of the research is to investigate the mediating role of corporate sustainability in the relationship between the impacts of transformational leadership on the performance of firms. This study also aimed to investigate the moderating role of knowledge-sharing on the relationship of transformational leadership with corporate sustainability. Respondents of the study were the top management of large Chinese automobile sectors, such as Shanghai Automotive Business Corporation (Group), China FAW Group Corporation, Dongfeng Motor Co., Ltd., Beijing Automotive Group Co., Ltd., and China North Industries Group Corporation. These are the companies with the biggest market share in the automobile manufacturing industry in China. The data was gathered by using a self-administrative survey questionnaire from 198 individuals operating in different automobile industries in different sectors of China. The data were analyzed using structural equation modeling (SEM) through the Smart PLS 3.3.2 software. The results of this study revealed that transformational leadership has a positive and significant effect on the performance of the firm. Corporate sustainability has a significant positive mediating role in the association of transformational leadership and firm performance. Findings indicated that knowledge-sharing also has a positive moderating role in the association between transformational leadership and firm performance. The findings of this study contribute to the body of knowledge and show that leadership style has a significant effect on firm performance and that knowledgesharing culture in firms is essential for better performance of the firm. Furthermore, firms may improve their performance by improving their sustainability and by creating knowledge-sharing culture. The findings are important, particularly in connection with a developed country like China. The findings have important insights for various stakeholders, i.e., government, regulatory bodies, practitioners, academia, industry, and researchers. [ABSTRACT FROM AUTHOR]

The objective of this paper is to investigate the impact of capital structure and corporate governance on firmperformance. To test the hypothesis of study, data was collected from annual reports of sugar sector companies listed in PSX. This study data covers from2015 to 2020. The results of study showed that both proxies of capital structure, i.e., D/A and D/E negatively influence the company performance. Whereas two out of three proxies of corporate governance, i.e., board size and chairman/CEO duality negatively indicate association with company performance while audit committee size has a positive impact on the company performance. [ABSTRACT FROM AUTHOR]