Search

This study undertakes a comprehensive bibliometric analysis of war and terrorism Insurance research spanning from 1914 to 2018. Leveraging tools such as Scopus and VOSviewer, the analysis involves 56 papers to unveil evolving trends and scholarly contributions. Collaborative network maps are employed to illuminate influential authors, top journals, key papers, funding institutions, and affiliations within the domain. One of the key findings of this research is that the volume of published papers on the topic of terrorism insurance is associated with major terrorism events, and there were no published papers on this topic after the year 2018. Significantly, the research underscores the substantial impact of existing studies on understanding the repercussions of war and terrorism Insurance while pinpointing persistent gaps in the field that necessitate further exploration. The originality of this study lies in its novel approach—a thorough bibliometric analysis, filling critical research gaps to offer valuable insights for both practitioners and academics. This study's paramount importance is manifested in its potential to inform and benefit both practitioners and academics alike. By addressing research gaps, the findings contribute to the development of effective strategies for mitigating the risks associated with War and Terrorism Insurance. Essentially, this research not only advances our understanding of the complex domain but also provides practical implications for real-world applications.

This paper measures the degree to which disclosed annual financial information assimilates into stock prices through the financial production process (FPP). Since it is established that price anchors impact investor trading decisions, the effect of proximity to chosen price anchors and the historical high and low prices on FPP efficiency is analysed for 611 Indian firms across 11 industries. Results show that a significant number of stocks are FPP inefficient, and the FPP efficiency is mean-reverting. Further, FPP efficiencies depend on proximity to price anchors, implying that FPP efficiency is a proxy measure of behavioural bias in stock prices.

Purpose: This study aims to identify and examine the relevance of implementing remote work by small and medium-sized enterprise (SME) business operators during the post-COVID-19 era in developing nations. Design/methodology/approach: The study utilised a qualitative methodology, conducting interviews with twenty SME businesses, including business leaders and management level employees. It explores the challenges faced by these operators in maintaining remote work and its impact on their business operations. Data was analysed and compiled using ATLAS.ti software. Findings: The findings indicate that not all SME are capable of sustaining remote working environments. The nature of the business plays a crucial role in providing flexibility to employees in their operations. There are also weaknesses in remote work security that need to be addressed, as they can potentially impact business operations and performance. Research limitations/implications: The implications of the pandemic on business operations, regardless of size, are significant globally. This study sheds light on the challenges faced by SME in implementing remote work and its feasibility in the post-COVID-19 period. Originality/value: The content of this paper is based on information, observations, and discussions with SME operators on how COVID-19 has compelled their businesses to adapt to the changing environment. Previously, there was no urgency for businesses to embrace remote work operations, but the pandemic has forced them to adopt such measures.

Numerous studies have explored the impact of information asymmetry on firms’ dividend policies. These studies have generally focused on advanced capital markets and have provided conflicting evidence on the quality of the information environment and dividend policy. Our paper, thus, tries to address this gap in current understanding by examining the connection between asymmetric information and dividend payout policies and whether this connection is moderated by corporate governance quality (CGQ) in an emerging economy, the United Arab Emirates (UAE). Using a panel sample of non-financial firms traded on the UAE stock exchanges over the period from 2009 to 2022, we document that dividend payments are negatively influenced by information asymmetry problems. We also document that the negative connection between information asymmetry and dividend policy is less pronounced in firms with strong corporate governance systems, consistent with the conjecture that such firms face lower agency and asymmetric information problems and hence pay higher dividends.

The number of scientific publications studying open innovation (OI) and tourism has increased since the first concept appeared. Nevertheless, there is still a gap regarding the science mapping and performance analysis of these two concepts. Although there are studies that focus on open innovation and tourism, few are studying the relationship between themes. We aimed to address this gap by reviewing the literature and searching the Scopus database using R. Bibliometrix. We identified 45 published articles between 2010 and 2022, covering 23 sources and 130 authors. The results indicate a strong collaboration network among authors. Open Innovation, Tourism, and Sustainability are the trend topics, as well as the three main keywords. The emerging topics are “open innovation in tourism”, “service innovation” and “overtourism”. Keywords, trend topics, and emerging topics can be valuable guides for researchers and help them decide which path to take in their studies in this field. This paper is a starting point for carrying out further research that relates OI to other areas of tourism, such as smart tourism or smart tourism destinations, which are highlighted in some of the most recent articles that were under this study.

This paper illustrates how an industrial cluster can be created when there is little established industry from which the cluster can evolve. Industrial clusters are known to give firms superior performance by improving the competitiveness of regions. There is significant debate on effective strategies to create new industrial clusters.Incorporating evidence from a systematic literature review supported by quantitative data this study demonstrates that an industrial cluster can be created without a preestablished industrial base. The medical device cluster in Galway, Ireland is used for the study.The results show how government policies supported the cluster's creation. The engagement of key institutions and stakeholders improved the competitive factors in a self-reinforcing cycle. Using a theoretical model, the growth of the cluster is explained. The paper suggests measures to assess the health of a cluster and identifies the importance of geographic location. Policies to improve a cluster need to be focused on closely bounded regions and not dispersed.

This paper proposes a framework for explaining the collaboration between co-creation and LAB design methodologies with KIBS (Knowledge Intensive Business Services), which include ICT services, when public services were immerse in an innovative process at government units within six EU-20 countries in the Co-VAL H2020 survey (Spain, France, Hungary, the Netherlands, Norway, and the United Kingdom). The proposed channels of interaction of user´s at the centre methodologies and KIBS is based upon the new public government paradigms and the public service dominant logic. The model examines the propositions of these paradigms, as to how co-creation processes are embedded in the interaction of KIBS and final customers, by deriving the channels through which those consultancies contribute to fostering innovation in various government units across the EU-20 (1875 public units of work surveyed), particularly in relation to improving public business-related services. The study first utilizes unilateral equations to estimate the overall effects of all the covariates and, in a second step, utilizes systems of equation models to derivate the interaction of users at the centre methodologies on KIBS and, consequently, the indirect effects that these processes have on the innovation processes of the public units of work that contracted those business services. Results conclude that value co-creation is embedded on KIBS with the decisive influence of inputs provided by final customers of the innovative processes as the public dominant service logic states. The analysis is based on the Co-VAL EU 2020 Survey, testing the causal effects that KIBS consultancies have on public innovation processes, especially those related to business services or business organizations, with a focus on the reinforcement of co-creation, LAB design, and co-production methodologies. To our knowledge this study is the first to estimate those indirect influences of user´s at the centre methodologies on public innovation processes that contract KIBS to generate positive dynamics improvements of public services.

Due to rapid advances being made in computing technologies, open innovation methods are being used for better managerial forecasting and min-max efficient time for delivering final products to the marketplace. This requires that technology, time, human capital, efficient and sound production methods, and delivery are all high quality. This paper explores how ‘process development′ can connect all parties in managerial efficiency in time and cost to achieve targeted goals. Knowledge gaps concerning operations and technological forecasting of multiple development projects under open innovation infrastructure are filled in here. Overlapping consecutive tasks in the production process to reach the desired objective are described. The proposed model recognizes the trade-off between time-to-market reduction and devising a scheduling process that is minimized as much as possible, which demonstrates time to delivery effectiveness. The model serves to conduct an empirical study using Chinese data. We observe encouraging results in the modelling of operational excellence in technology development processes (lead time data) using Convex, Linear and Nonlinear models to achieve the goals. Overall, in open innovation, where collaboration spans boundaries and involves multiple stakeholders, effective overlapping scheduling isn't just about managing time; it's about orchestrating a harmonious collaboration that enables diverse groups to work cohesively towards a shared goal, and our paper contributes to providing a seminal toolkit and methodologies into it.

Innovativeness and digitalization of enterprises of various countries is fundamental to their development and building a competitive knowledge-based economy. These issues are well understood in the European Union (EU), which promotes sustainable development of its economy, for which innovativeness and digitalization are of vital importance. The paper addresses this issue by presenting the results of a study of the level of innovativeness and digitalization of enterprises in the countries of the EU. The objectives of the research were to assess the level of innovativeness and digitalization of enterprises in the EU-27 states and to determine a relationship between digitalization and the level of innovativeness of these enterprises, as well as the impact of selected economic, energy, social and environmental parameters on these processes. The importance and interaction of these areas, as well as their impact on the economy, causes the methodology developed and the research conducted to consider both these dimensions of business activity simultaneously. To achieve these goals, an original research methodology was developed. Its basis was a set of 18 selected indicators characterizing the state of digitalization and innovativeness of enterprises in the EU-27 member states. Three methods of Multiple-criteria decision-making (EDAS, MOORA, VIKOR) and the Hurwicz criterion were used for the primary research. On the other hand, the CRITIC, Entropy and equal weights methods and the Laplace criterion were used to determine the weights of indicators. The multi-criteria approach to the issue under study made it possible to achieve the set objectives and formulate conclusions and answers to the research questions posed. The results unequivocally indicate a link between the innovativeness of enterprises and the process of their digitalization and R&D expenditures in the EU countries. The level of innovativeness and digitalization is definitely higher in the group of the so-called ''old EU-14' states than in the ''new EU-13'' states. The research and its results provide ample opportunities for conclusions as to the state of both studied processes (digitalization and innovativeness) in the enterprises of the EU-27 states. The wide scope of the research carried out makes it possible to use the findings to build strategies and future economic policies of the entire EU and individual countries. The universality of the developed methodology also gives a wide range of possibilities for its application for further research.

This theoretical work addresses the maturity models related to innovation processes that can be applied in critical industries such as the aerospace-defense sector in Colombia. It responds to the need to articulate the local industry, technical and innovation capabilities, regulatory aspects, scalability and the observed market. It proposes a model to measure an innovation process's readiness level in these sectors, applicable to decision-making processes, development centers, and the country's leading sectors. It offers a theoretical basis and a tool to be applied in the decision-making process to help minimize the inherent risks to the innovation process in the sector. The method used was mixed; first, a review of the state-of-the-art and a scientometric analysis was carried out to determine factors subsequently validated by experts, which gave rise to variables with a high degree of relevance in generating innovative products or services. These were modeled through structural equations considering variables covering the innovation cycle, considering market, industry, and technology criteria, which minimize risk until integrating the absorption of the innovative product. Finally, the model was refined through exercises with experts related to the sector from academia, industry, research centers, innovation and the end user of the innovation products. The paper proposes a theoretical measuring model of technological maturity of innovation and a flow chart that could serve as a tool for measuring technological readiness. The model could be a tool for an organization's decision-making, as it visualizes technology, market and regulation as critical factors in the innovation cycle.

Nowadays, there is an increasing recognition of the value of eco-innovation in both academic and practical spheres. Establishing the connection between eco-innovation and corporate performance is highly important. This paper aimed to analyze the correlation between eco-innovation, corporate performance, and company size. To accomplish this goal, the paper collected unique data from 383 global non-financial companies using the Refinitiv Eikon database from 2013 to 2022. This paper uses fixed effect and (generalized method of moment) GMM techniques to overcome possible endogeneity concerns. The strong empirical results display a positive relationship between eco-innovation and corporate performance. Importantly, this paper discovered that the size of companies significantly magnifies the effect of eco-innovation on corporate performance. Our findings are still robust to endogeneity concerns. The results confirm that prioritizing eco-innovation can benefit larger companies in multiple ways, including boosting productivity, avoiding penalties, expanding into new markets, improving green image, and gaining a competitive edge, all of which ultimately enhance corporate performance. Additionally, the extensive evaluation by stakeholders enables these larger corporations to generate increased profits. This paper aims to contribute the innovation literature by exploring an under-explored topic using extensive panel data and offering practical guidance for non-financial firm stakeholders. The implications of the findings have various impacts on future research and policy development. Furthermore, this paper aims to assist policymakers in establishing impactful mechanisms and guidelines that foster ecologically conscious attitudes. The conclusion assists managers in grasping the importance of context-based eco-innovation.

Next generation textiles (NGTs) represent a paradigm shift in the textile industry, incorporating the most recent advances in materials, technologies, and functionalities. The dynamic world of textiles is undergoing an extraordinary transition, ushering in the age of NGTs. This article discusses the mechanisms, difficulties, present advancements, and potential future opportunities associated with these NGTs. This assessment traverses the domains of nanotechnology, 3D printing, recycling, wearable electronics, machine learning, biomimicry, and energy harvesting while focusing on sustainability, functionality, smart integration, advanced manufacturing techniques, and multifunctionality as major factors. The paper highlights the wonderful prospects of improved performance, sustainability, intelligent textiles, and wearable technologies, highlighting consumerization, personalization, safety, and protection enhancements. Furthermore, a key method for overcoming major challenges is discussed which is to adopt open innovation, which encourages collaboration, knowledge exchange, and the integration of external resources, all of which aid in addressing scalability and mass production, costing, and a lack of modern technologies in the NGTs industry.

This paper presents a study focused on the analysis of phytosanitary treatment sales in the Souss Massa region of Morocco. The objective of the study is to predict the sales of agricultural products, particularly crop protection solutions, aiming to optimize supply chain operations and meet customer demand effectively. Data for this study are collected from multiple sources, including the Enterprise Resource Planning (ERP) system called Microsoft Dynamics AXAPTA used by a leading agricultural company operating in the region. Information such as the date of sale, farming type, climate, and specific sales locations within the Sous Massa region is gathered. Machine learning techniques are applied for forecasting. Various regression models, including the Gradient Boosting Regressor algorithm, are employed to determine the most accurate predictor. Evaluation of the models reveals promising results, with a Mean Absolute Error (MAE) of 0.0035 and a Root Mean Square Error (RMSE) of 0.0066. The results obtained by applying various regression models, including the Gradient Boosting Regressor algorithm, demonstrate promising prediction scores. These findings contribute to the field of sales prediction in the agricultural industry while considering the impact of climate conditions, farming practices, and regional factors.

This study aims to investigate the factors of renewable energy consumption in the fifth Technology Revolution with specific evidence from ASEAN countries. The study applies an autoregressive distributed lag (ARDL) approach. The paper also uses the unrestricted fixed and random panel data methods. The manuscript identifies significant factors such as technological innovation, governmental policies, public awareness, electricity consumption, country population, foreign direct investment inflows, imports, exports, and economic growth that have influenced the renewable energy sector in these nations. This study also investigates the determinants that influence renewable energy in the context of international integration and the fifth technology revolution in ASEAN countries. The research analyzes data spanning two decades, from 2000 to 2022, through a combination of econometric modeling and machine learning techniques. Preliminary findings indicate that technological innovation, government policies, and public awareness significantly affect renewable energy consumption in these countries. The empirical results offer insights for policymakers and stakeholders in leveraging technological advancements for sustainable energy development. The findings from this study on the determinants of renewable consumption in the context of the Fifth Technology Revolution in ASEAN countries also have several important policy implications for the sustainable development goal.

Regional innovation should be adaptive because it involves uncertainties and risks, and the context of each region is critical to the success of innovation processes. However, regional areas often face unique challenges that require tailored approaches to innovation. The focus of innovation is evolving and needs to prioritize sustainability. Consequently, adaptable innovation approaches are essential to ensure the sustainability of addressing the challenges and opportunities that arise within each regional context. Thus, the paper aims to answer three research questions: 1) How are agile and open innovation concepts described within the context of regional innovation? 2) Are the concepts of agile and open innovation compatible for integration into an adaptive model in the development of regional innovation? and 3) What patterns or commonalities emerge in the comparison between theories identified for adaptive regional innovation? This research study adopts a conceptual synthesis approach to integrate the existing knowledge. It draws on two innovation concepts: agile innovation, which offers agility and open innovation to enrich collaboration in development. Our work makes a significant contribution by proposing an adaptive innovation model for regional innovation development that explains the integration of agile and open innovation. The adaptive innovation model defines essential activities such as innovation focus areas, idea management, concept development, implementation, and evaluation, which are all part of the innovation emphasis areas. It also identifies the quadruple helix as key players in this model. This methodology can be used by regional governments and policy makers to encourage regional innovation towards sustainability and resilience.

This paper investigates the effects of attitudes towards sustainable consumption and sustainable behaviours. Income as the control variable and gender, age, assets, and educational level as moderators were included. To achieve the aims of the study, a critical literature review, exploratory factor analysis, confirmatory factor analysis, and structural equation modelling were performed. Data were obtained using the CAWI technique on a sample of 1200 adult consumers. The findings show that attitudes towards sustainable consumption are positively associated with sustainable behaviours, and that income significantly determines dimensions of attitudes towards sustainable consumption and sustainable behaviours. Additionally, the relationships between income, dimensions of attitude towards sustainable consumption, and particular sustainable behaviours in groups distinguished by gender, age, property ownership, and education level were confirmed.

This paper aims to investigate the impact of Industry 4.0 and Circular Economy on Lean Leadership and Lean Culture, providing insights into how Lean Manufacturing companies can adapt their leadership and culture styles to succeed in the new business environment. We have conducted a systematic literature review focusing on the impact of Industry 4.0 and Circular Economy on Lean Leadership and Lean Culture, and our principal findings are that Implementing Industry 4.0 and Circular Economy requires changes in Lean Leadership and Culture styles to incorporate sustainability and digital transformation. This study identified ten Lean Culture characteristics classified in three groups values and principles (culture of respect, collectivism, power distance and authority distribution), customer centric (customer orientation and performance orientation) and operational excellence (receptiveness, working conditions, problem solving culture and continuous improvement and innovation) and nineteen Lean Leadership competences grouped in three categories customer oriented (customer focus, customer and supplier development and teamworking), personal development (personal stability, personal behavior, human centric, self-developing and learning, empowerment, self-transcendence and servant leadership), Lean principles (experimental, continuous improvement and innovation, zero-defects, process and lean expertise, problem solving and genchi genbutsu) and performance driven (targets settings, targets deployment and flow) that are necessary for successful implementation of Industry 4.0 and Circular Economy in Lean Manufacturing companies.

This paper proposes a model to determine the direct and moderating effects of COVID-19 on the overall satisfaction of cultural tourists with the heritage destination visited. The hypotheses put forward in the model have been tested employing non-linear structural equation models (SEM), estimated with data from the Resident Travel Survey of the National Statistics Institute (NSI), on domestic demand for cultural tourism in Spain. The data analyzed covers both a pre-covid and pandemic period, from January 2019 to September 2021. The results confirm that COVID-19 significantly impacted the decrease in cultural tourists' satisfaction with the visit. It highlights the negative relationship between cultural tourists' socioeconomic profile and satisfaction. This research provides knowledge on the impact of COVID-19 on the behavior of cultural tourists, with practical implications for the design of tourism policies for the promotion and marketing of heritage destinations through differentiated marketing that increases satisfaction for this demand segment in crisis scenarios.

The automotive industry is undergoing a profound transformation in its transition to production of electric vehicles. This paper seeks to examine the main transformations taking place in global value chains in the automotive industry as a result of this transition. The analysis follows a multiple case study methodology based on a theoretical approach that seeks to address the research question and purpose.The main findings of this research focus on three dimensions of GVCs. First, this transition increases competition among assembly plants at the intra-group level for the awarding of new models. Second, it continues to reconfigure supply chains, threatening the viability of certain traditional providers of components and giving rise to new players – battery manufacturers – that may challenge the chain hierarchy. Third, the transition to electric vehicles has led to a reduction in employment volume in the chain as a whole. Because the transition is ongoing, it will continue to pose significant challenges for multiple actors involved in the automotive industry.

The United Nations Sustainable Development Goals (SDGs) have become the leading international reference for achieving a more inclusive and sustainable model of development. Businesses play an important role in changing the existing model. Analysis of the engagement of businesses with the SDGs first requires knowledge of how managers perceive advances toward achieving these goals. This knowledge is missing from the academic literature. This paper proposes a synthetic indicator that captures company managers’ ratings of how well their companies are meeting the 17 SDGs. To create the synthetic indicator, the DP2 distance method was applied. Companies that most positively rate the degree of achievement of the SDGs belong to the agrifood sector.

Innovation is not only a random or accidental process. It requires a deliberate and systematic approach to enhance the innovation performance of a country. The concept of the National Innovation System (NIS) has provided a valuable framework for organizing and fostering innovation efforts across individuals, groups, and organizations within a country. While numerous studies on NIS have been carried out in developed countries, contributing to their socioeconomic progress and shaping effective policies, there is a significant disparity between developed and developing countries. Researchers have recognized the importance of studying NISs in developing countries and have highlighted the need for in-depth investigations into system configurations to generate valuable insights for policy formulation.This paper presents a conceptual model for conducting NIS studies in developing countries, derived from a critical review of existing literature. The proposed model serves as a guide for conducting comprehensive studies within the unique contexts of developing countries, focusing on the central core of NIS. Moreover, this study opens opportunities for future NIS-related research by identifying specific subsections of the overall NIS that warrant attention, while acknowledging the limitations faced by researchers. By adopting this conceptual model, researchers can delve into various aspects of the NIS in developing countries, facilitating a holistic understanding, and enabling the generation of impactful policy recommendations.

Small and medium-sized enterprises (SMEs) face obstacles in raising capital and accessing financial services due to information asymmetry, high transaction costs and lack of collateral. FinTech developments have made gathering and sharing information easier, changed how funds are mobilized and allocated, and increased capital-raising activities. This paper conducts a systematic literature review on FinTech and SME financing for the period 2008–2022. So far there are unstructured and separate publications on this topic. Therefore, there is a need to consolidate the empirical research and their findings on the effectiveness of FinTech in meeting SMEs' financing needs. The bibliometric findings show that few studies on FinTech and SME financing are empirical in nature. These empirical studies surged a decade later after FinTech 3.0 started in 2008, with the majority of them using quantitative methods based on data from surveys and FinTech platforms. Furthermore, emerging alternative digital financing to SMEs have attracted more empirical studies than those on FinTech and bank lending to SMEs. In terms of publications, China is dominating, followed by the United States. The content analysis shows that FinTech has increased the ability of financial and non-financial institutions to collect and process accurate information about SMEs, thus reducing information asymmetry and transaction costs. FinTech has also increased the speed and quality of the lending cycle, from establishing an SME pipeline, collecting and processing information, to loan screening, monitoring and repayment. Finally, the paper presents research gaps and areas for future studies, challenges and policy recommendations on this novel subject.

The traditional pipeline-based approach to operating business is currently challenged by the platform-based approach. The research on digital platforms and platform business is well established and includes multiple different design frameworks for building platform business but they seem to lack the dynamic nature of platform design. We explore the birth of digital transaction platforms as a dynamic process to demonstrate the dynamic complexity of designing platform-based businesses. The paper presents a multiple case study focusing on the birth phases of four resource constrained start-ups. Based on literature study and theme interviews, we apply systems mapping to analyse the early growth of four digital platform ecosystems. Our findings indicate that the growth of platform-based business is a result of various self-reinforcing and balancing feedback loops, which create dynamic behaviour of the system. In the early phases of platforms lifecycle, start-ups struggle to offset the dominating feedback structures that limit the growth. These feedback structures vary based on business environment and platform design choices made by the platform company. The research contributes to academic discussion on digital business by providing empirical and theoretical insights into growth dynamics of business based on digital platforms.

Under the umbrella of Industry 4.0 (I4.0), manufacturing companies have implemented various digital solutions, improving productivity. Shop floor management (SFM) is the core management instrument in manufacturing and is a precondition for implementing new systems. In recent decades, visualization boards (VB) have played a significant role in facilitating SFM. Following the I4.0 agenda, tremendous investments in manufacturing technologies have been spent to enable data-driven decision-making to support SFM in monitoring and controlling manufacturing. However, it does not seem that the digital transition has reached the SFM practice yet. Currently, most manufacturers rely on analog VBs. One would think, that applying such an analog tool limits the opportunities to harvest the full potential of the digital investments to improve SFM conditions. This paper aims to shed light on this gap by contributing to the existing literature on digital SFM by adding to the discussion on how the role of analog VBs as an SFM instrument is changing due to the digital transition of manufacturing. The research follows a case study approach, including 16 cases that illustrate the use of current VBs to facilitate SFM in 16 international companies. The findings demonstrate an SFM model (The Danish SFM model) which indicates that VBs are indispensable tools to facilitate SFM. Given the functionalities of current digital VBs provide limitations, analog VBs still prove useful to the SFM practice. Despite practitioners are experiencing challenges within their digital transition of SFM VBs, the findings highlight eight reasons why a digital transition is warranted.

Key stakeholders across different industries with competing visions, motivations and technology bets are investing significant financial resources in developing the building blocks of the metaverse. The purpose of this opinion piece aimed primarily at practitioners is to explore the key question: What is needed to make the metaverse real? What are the key uncertainties that must be resolved? We are motivated by shedding light on whether the metaverse is just a new marketing buzzword or a new transformative trend. We have identified six areas with key uncertainties, which require agreement and solutions from industry players – the space, the interface, the IT infrastructure, the monetary infrastructure, the digital ID and the energy. These uncertainties will be resolved in a series of cooperative and competitive games among the key stakeholders who will need to work on being aligned on a set of standards. The practical implication is that the metaverse cannot be ignored, but there are non-trivial challenges that need to be resolved first. Our paper provides a framework for practitioners to think through these issues in a more systematic fashion.

This research explores the effects of personalization in email marketing. Although personalization is expected to positively impact customer experiences through behavioural responses, its effects on consumers' actual behaviour have not been extensively addressed, providing retailers limited guidance on how to develop personalized communication strategies. Two experimental studies were designed to test the effectiveness of personalization. Results show positive effects of personalized messages on retailers' performance while also highlighting instances of reactance. The originality of this paper lies in identifying possible causes of the contrasting effects of personalization on consumer behaviour by investigating them alongside various customers' online shopping decision making phases. It also provides managerial implications by suggesting guidelines on how to implement effective personalization in email marketing.

Recent studies indicate that online interactions generate significant effects on consumer behavior, such as customer loyalty and satisfaction, through shopping values, while there are only very few studies devoted to user stickiness. Therefore, the purpose of this paper is to contribute to the existing literature by analyzing the effects of online interactions on user stickiness in a social commerce environment through the perspective of shopping values. This study measures online interactions through perceived ease of use, perceived usefulness and social interactivity. Shopping values are evaluated by both utilitarian and hedonic values. Then a Stimulus (S)-Organism (O)-Response (R) model that relates online interaction, shopping values and user stickiness, is constructed to derive several research hypotheses. Based on 183 valid questionnaires the results reveal that perceived ease of use and social interactivity can positively affect utilitarian shopping values and user stickiness, while perceived usefulness and social interactivity positively affect hedonic shopping values and then influence user stickiness. Hence, online interactions play a crucial role in strengthening user stickiness in social commerce. Therefore, for social commerce platforms, managers need to continue improving their perceived ease of use, perceived usefulness and social interactivity to attract and retain their users.

In this phenomenological study, the author proposes a spiritual triple bottom line framework (STBL) to develop and measure the three bottom lines: individual prosperity, impact on people, and impact on the planet through the lens of spirituality. The results are presented as an interpretation of the individual's perceptions of spirituality and their spiritual experiences. The result comprises three themes of spirituality and its nomological linkage i.e., inner sustainability with a triple-bottom-line framework (external sustainability). The themes are: the source of spirituality, the process of experiencing spirituality, and the outcome of being spiritual.

ABSTRACT: This study aims to investigate the role of the indigenous construct lokasamgraha in the context of social entrepreneurship. We identified lokasamgraha through content analysis of the Bhagavad Gita, employing the methodological approaches proposed by Bhawuk (2010). Using the lens of paradox theory, we investigated commonly accepted tensions in social enterprises. We developed a framework to explain how lokasamgraha can assist social enterprises in managing tensions and achieving the triple bottom-line. Furthermore, we validated this framework by citing a lokasamgraha-based social enterprise in India. Finally, before concluding, we discussed the implications and future research directions.

This paper uses the Google Internet search volume index to capture pandemic attention and examines the effect of COVID-19 on the stock returns of the tourism industry. We find a significant negative effect of pandemic attention sentiment on tourism industry stock returns. The results are robust to the inclusion of alternative pandemic information variables and firm and business cycle controls. Results suggest that large-size firms, firms with better growth opportunities, and value stocks are more resilient to mitigate uncertainty induced by the pandemic. Investors welcome governmental economic policy interventions and thus adjust their return expectations less negatively. Finally, we find that the country's cultural dimension, government efficiency, stable financial system, and health system help to mitigate the downside risk of stock price movements induced by the pandemic.

This paper retrospectively examines how the digital payment-financial inclusion nexus fostered demand-driven payment system innovation and diffusion within the global open economy during the COVID-19 crisis. To that end, the paper uses a cross-sectional sample of 127854 respondents from across 123 economies, extracted from the 2021 wave of the Global Findex Survey. Together with a hybrid theoretical framework that bridges the quadruple helix (QH) innovation model with random utility theory (RUT), the study characterizes individuals’ stated preferences for cashless payment across the three consumption domains of in-store shopping, online shopping, and regular bills settlement. The parameters of the resulting econometric model are estimated within the R software version 3.6.3. The findings from all nine considered demand side financial inclusion indicators reveal that globally, during the crisis, formal financial inclusion had a significantly positive impact on the marginal utility, and thus likelihood that individuals use digital payment solutions (DPS) for in-store and online shopping experiences, as well as regular bills settlement. Additionally, DPS uptake for online shopping highlighted a significant gender-based gradient in favor of males. Moreover, higher education levels, labor market participation, rising income levels, reduced COVID-19 related financial worries, mobile phone ownership, and internet access, are all found to have positively contributed to individuals’ DPS uptake likelihood during the crisis. Furthermore, a cross-country heterogeneity in individuals’ cashless payment preferences remained persistent across the three consumption domains due to macroeconomic, regulatory, cultural, and digital infrastructural readiness differences between countries. Overall, the findings provide support for evidence-based decision making by all digital payment ecosystem stakeholders.

Purpose: This study aims to examine the influence of ChatGPT on third-party logistics (3PL) operators, specifically in the context of enhancing the value of services they presently provide. Design/methodology/approach: This research employed a combination of survey analyses and a case study on an international logistics operator. Within this framework, specific services were identified and contrasted between the operator's current performance and a hypothetical scenario involving the implementation of ChatGPT. For the majority of the study, the open-source version of ChatGPT was utilized. However, for forecasting purposes, the proprietary GPT-3.5 version was employed. The intention behind this methodology was to highlight the capabilities of the basic ChatGPT, showcasing its applicability as a widely accessible tool, while recognizing the necessity of GPT-3.5 for more sophisticated numerical data analyses. Findings: The findings revealed that 3PL managers are informed about ChatGPT's capabilities and recognize its potential utility in logistics operations. The case study further underscored ChatGPT's competency in generating actionable insights which can guide managers in enhancing their value-added services. Research limitations: The primary constraint in this study was the limited number of expert participants. This limitation was due to stringent criteria set by the researchers in selecting experts. However, this also represents an avenue for more comprehensive research in the future. Subsequent studies might also explore other chatbot variations and delve deeper into the practical application of ChatGPT in automating interactions between 3PL entities, service beneficiaries, and the end customers of these services. Value of the paper: This manuscript augments the current body of research concerning the application of ChatGPT in the realm of value-added services offered by logistics operators in the context of contract logistics. Moreover, it provides empirical evaluations of several use cases juxtaposed with existing solutions.

The paper explores the concept of Regional Innovation Systems (RIS) in the context of the tourism industry. It emphasizes the importance of collaboration and competition among companies within regional systems to foster innovation. It also discusses the role of social capital, relational assets, and social relationships in driving innovation within RIS. The Campania Region recognizes the importance of tourism for its development and supports the digital transition, modernization of public administration, communication infrastructure, and production system. In this vein, the paper proposes a theoretical framework that combines dynamic capabilities, relational view, and resource-based theory to explain the mechanisms and dynamics of RIS. The co-creation of innovation and strategic plans within a system of regional assets is highlighted as a key aspect of RIS. The paper concludes by emphasizing the need for collaboration, innovation, and the integration of various stakeholders' interests in the development of sustainable and innovative regional systems.

Systems Engineering (SE) is an engineering method that has rarely been applied in Automotive Product Development, despite its noticeable positive effects in other engineering fields. With increasing interests, firms and scholars have started to discover its impact in the segment, however internal hurdles appear when it comes to implementation practices at organisations across the industry. This paper presents a comprehensive guideline, results and good practices on the SE implementation, developed in Formula SAE (FSAE), which is a relevant model environment of automotive industry. The impact of applying SE show project results improvement in cost, time and quality aspects, although, the maturity of SE should be assessed at the system of systems level. Outcomes gained from FSAE have been validated by in-depth interviews with SE experts, engineers and managers affiliated at technical development departments of 4 different automotive OEMs. These practitioners provide evaluated practices as employee involvement, applying learning by doing, and playing with architectures relevant and feasible in industrial setting, however emphasized expected impeding factors as sluggishness and general resistance to organisational changes.

With increased digitalization and e-government services, Artificial Intelligence (AI) gained momentum. This paper focuses on AI-governance in Child Social Care field, exploring how aspects of individual, family/community factors are embedded in organizational level, especially when dealing with children resilience and wellbeing. A three-level based review has been conducted. In the first part we explored the interlink between individual factors associated to either resilience or wellbeing are connected to community and governance level where a new conceptual model is provided. In the second phase, we conducted an in-depth systematic literature review using PRISMA review protocol where new categorizations of identified literature with respect to individual, family and community levels in child social care field were suggested, while in the third phase, a review of relevant AI-initiatives in Europe and USA was performed. Finally, a comprehensive discussion of the literature review outcomes was carried out and a new updated conceptual model was provided.

The main aim of this paper is to study the phenomenon of the coexistence of firms with illegal characteristics and firms showing legal behaviour in developed economies by using an evolutionary competition model known as the Lotka-Volterra equations. Enterprises in a ‘legal system’ obey the extant laws, particularly market rules, while enterprises in an ‘illegal system’ disregard them. Illegal enterprises have a competitive advantage over legal enterprises, yet they cannot survive if legal enterprises disappear completely. The numerical solution of the Lotka-Volterra equations are used to show how there can be a situation of coexistence between legal and illegal enterprises and how state intervention can help reduce illegality in an economic system. This paper outlines a new approach to address the problem of coexistence because it uses non-linear and evolutionary tools to define the competition between legal and illegal firms. The research gap presented in this paper is addressed using the predator-prey scheme to model the competition between legal and illegal firms, which is perceived as the competition between two populations with different fitness levels (survival probabilities). This competition gives rise to three different types of possible equilibrium outcomes: survival of only legal firms, survival of only illegal firms and coexistence of these two types of firms. An empirical analysis of an Italian case study confirms the results of this paper's theoretical model.

The paper investigates the moderating effect of patriarchal attitudes by country and year on the relationship between gender diversity on boards and firm performance. The international sample analyzed is composed of 1,103 listed firms from 18 European countries for the period of 2005–2019. Using a two-step system GMM approach, the analysis shows how the generally positive relationship between gender diversity and economic performance (proxied by return on assets and Tobin's Q) is offset and even surpassed by the negative moderating effect of patriarchal attitudes. Furthermore, our work tests critical mass theory and finds confirmation in line with the results obtained for gender diversity. The main contributions of this work include its use of new specific proxies for gender culture by country, namely, patriarchal attitudes and the finding of how they affect the relationship between women's board participation and firm performance in a negative and consistent way.

Knowledge, especially tacit knowledge (TK), has become the most strategic resource for firms' innovativeness and competitiveness. However, most agricultural firms struggle to effectively manage TK to improve their innovation capability. This study aims to examine the relationships between firms’ proximity, including geographic proximity (GP), cognitive proximity (CP), social proximity (SP) and organizational proximity (OP), external tacit knowledge acquisition (ETKA) and incremental innovation capacity (IIC). The study also examines the mediating role of ETKA in the relationship between proximity dimensions and FFF's IIC. The paper draws on the theoretical framework of knowledge-based view and knowledge management (KM) and adopt structural modeling equation for research hypothesis testing. Primary data are collected between October and November 2021 through face-to-face interviews at 320 FFF level. The results reveal that SP and OP positively affect ETKA and IIC of FFF, while GP and CP failed. The evidence further shows that ETKA significantly improves FFF' IIC. The results also highlight the partial mediating effect ETKA. The study suggests that FFF owner-managers can improve ETKA and boost IIC by building and optimizing strong close relationships between FFFs based on trust and shared goals. The finding provides useful implications for policymakers and agricultural firms managers regarding the adoption of embedded open innovation paradigm based on proximity dimensions. This study extends the literature on agricultural innovation by providing evidence of the link between proximity-KM-IIC.

Evaluating patent assets from the perspective of a patent portfolio is an emerging research direction and also a concrete practical example of open innovation theory, which presents the main form of encouraging more innovation entities to participate and further innovate by disclosing technological innovation information. For a better understanding of the patent portfolio value system at the quantitative level, this paper attempts to explore the relationship between the patent portfolio and the open innovation environment of industrial clusters, thus proposing a dynamic patent value evaluation method. Therefore, through focusing on the field of artificial intelligence for healthcare, this paper implements the evaluation process based on collecting relevant patent data and building an intuitionistic fuzzy set evaluation system. The evaluation results provide a value ranking for the patent portfolio, which helps decision-makers to carry out industrial patent layout planning and implement patent licensing strategies orienting to open innovation.

Green economy is the way forward to achieve economic, social and environmental, sustainable development. However, to accelerate the transition to green economy, private sector companies need to understand the impact of imposing green polices and activities on the economy. Therefore, this paper examines the impact of green growth on future aggregate stock market returns on European stock exchanges. Using fixed effects model, the results show that green growth policies result in lower future aggregate stock market returns consistent with the investors’ perceived reduction in risk argument. The findings of this paper enhance our understanding of how transition to a more sustainable green economy could impact the aggregate return of financial markets. The results remain unchanged after estimating standard errors clustered by country, by year and by both country and year. However desirable it is to adopt a green economy, it is important to implement the right measures to support it sensitively, without imposing heavy costs that severely affect economic health.

This paper aims to provide an alternative perspective on the constructs of family enterprise model. The conceptual model shows the nexus of family and enterprises in four quadrants: Kin, Business; Kin, Not-business; Not-kin, Business; and, Not-kin, Not-business. This construct synthesis aims to cover family enterprises from ancient to contemporary times to contribute to a theoretically founded conceptual framework. The two constructs to form a definition of family enterprise are enterprise, and attachment. The enterprise construct consists of two dimensions, Business and Not-Business. The attachment construct comprises two dimensions, Kin and Not-Kin, which are then offered with conceptual definitions. The paper proposes several ways to appropriately measure the constructs to address research questions. To the best of my knowledge, it is the first academic paper that includes not businesses such as not-for-profit as part of family enterprise business model. It examines the concept of family as member attachment to the enterprise rather than member ancestry. Practitioners and policymakers seeking solutions to family enterprises can use the four quadrants to investigate the issues, as each quadrant contains unique characteristics.

The relationship between managerial qualities and risk management is unclear, particularly for small and medium-sized organizations (SMEs) in developing market economies such as South Africa, because much research has focused on big enterprises in industrialized nations. To address this knowledge gap, this paper investigates the relationship between SME owner-manager characteristics and risk management, using upper echelons theory in a novel approach to provide a better understanding of how owner-manager characteristics may be linked to risk management strategies. This was achieved by the distribution of questionnaires to 320 purposely selected SMEs in Cape Town as well as personal interviews with two risk experts. The results show that risk avoidance is SMEs' most prevalent risk management strategy. The findings also show that SME owner-manager characteristics and risk management strategies are firmly and significantly linked, revealing the key determinants of effective risk management in SMEs. This paper is unique because it focuses on the often-overlooked topic of applying echelons theory to SMEs. Aside from bridging this knowledge gap, it has significant implications, such as informing SME owner-managers and policymakers on key variables that influence SME risk management strategies and making recommendations for future research.

Governments around the world have enacted many policies to reduce environmental pollution and carbon dioxide (CO2) emission. This study aimed to determine and understand the relationship between innovation, renewable energy consumption, foreign direct investment inflows, economic growth and CO2 emission in Vietnam. Information was collected annually based on the annual data of the General Statistics Office of Vietnam and World Bank from 2000 to 2022. The authors use the unrestricted fixed effects to resolve the study problems and using panel data method. The results indicate that innovation positively affects environmental pollution in Vietnam. However, renewable energy consumption has a negative effect on environmental pollution in Vietnam. In addition, FDI inflows and economic growth have strongly positive effects on environmental pollution. This paper also provides some recommendations that can assist Vietnam in developing a green and sustainable economy in the technology revolution 5.0 to achieve the United Nations Sustainable Development Goals (SDGs) over a long-term period.

In today's dynamic business landscape, large corporations are increasingly recognizing the value of collaboration with start-ups as a means to drive innovation, explore new market opportunities, and gain a competitive edge. To fully leverage the potential of such collaborations, these corporations need to develop specific capabilities that enable them to effectively identify, seize, and capitalize on promising collaboration opportunities. The primary goal of this research work is to propose the concept of Start-up Acceleration Capability (SAC) as a higher-order dynamic capability that enables large corporations to fully leverage collaboration with start-ups. The paper begins by reviewing the relevant literature on corporate-start-up collaboration and provides an overview of the dynamic capability framework and its micro-foundations. Subsequently, SAC is defined as a dynamic capability that combines three key components: sensing, seizing, and (re)configuring. Each component is examined in detail, highlighting the key micro-foundations that underpin its effectiveness and success. The findings provide valuable guidance for practitioners seeking to develop and strengthen SAC within their organizations and contribute to the existing literature on collaboration with start-ups, innovation management, and entrepreneurship. This research aims to advance knowledge and understanding in the field and provide guidance to practitioners and scholars seeking to maximize the value of start-up collaborations.

Open eco-innovation, which involves collaborative processes to develop environmentally sustainable solutions with diverse stakeholders, heavily relies on collaboration. This study aims to address this research gap in open eco-innovation by (1) examining perceived support and participation in an open innovation program for SMEs, predicting the outcomes of open eco-innovation, and (2) providing a foundation for a targeted public policy program. A sample of 495 SMEs in Thailand was analyzed using multiple probit regressions to understand how different forms of support and participation in open innovation programs affect the probability of open eco-innovation. Findings indicate that SMEs with uncertain internal open innovation programs are more likely to decrease the predicted probability of open eco-innovation. For instance, Thai SMEs investing in R&D and network activities may lack a clear pathway to enhance their eco-innovation capabilities, resulting in reduced R&D alliances and joint ventures. Practically, it is advised that SMEs carefully consider the advantages and disadvantages of open innovation before developing eco-innovation capabilities. Moreover, the study offers empirical evidence on the open innovation activities that influence SMEs' engagement in open eco-innovation. From a policy perspective, policymakers should prioritize creating a supportive environment, such as enhancing green cooperation. The originality of this paper lies in the use of a probit regression model to analyze factors influencing open eco-innovation and a logic model to provide actionable steps for promoting it.

Latecomer firms entering established industries face a pivotal strategic conundrum: Should they prioritize learning from industry leaders or directly compete against them? This paper examines two primary strategies that latecomers can adopt in response to this challenge. Each strategy emphasizes either learning or competition. Partial recapitulation underscores knowledge acquisition by selectively replicating the developmental pathways that have led industry leaders to their current dominant positions. Conversely, leapfrogging fosters competition by harnessing the most advanced products and practices to challenge industry incumbents directly. The appropriateness of these strategies heavily depends on the latecomers' internal capabilities and their external innovation ecosystems. We propose that partial recapitulation is optimal for latecomers with nascent capabilities operating in closed ecosystems, whereas leapfrogging is ideal for latecomers with strong capabilities within open ecosystems. The strategic choice between these two approaches not only delineates firms’ competitive positioning but also defines their learning and innovation trajectory, with significant implications for their competitive performance and industry standing. Our framework enhances the understanding of key strategic choices in latecomer firms, providing valuable insights for decision-makers in this context.

The focus of this paper is twofold; the primary objective is investigating the impact of board gender diversity on firms’ research and development (R&D) investment as an innovation driver. The secondary objective is looking at R&D expenditure from an opportunistic earnings management practice, suggesting that this expenditure could be used as a real earnings management technique to enhance firms’ earnings. The study sample comprised all pharmaceutical firms listed in the Bloomberg database between the years 2018 and 2021. The study’s findings indicated that the presence of female directors is correlated with greater innovation as firms are prone to invest more in R&D projects, hence, practising their strategic role effectively. Furthermore, a significant negative relationship is found between the presence of female directors and real earnings management practices, indicating that female directors would effectively contribute to board monitoring and as a result, the managerial opportunistic practices are eliminated. Our findings remain robust after using alternative econometric methods to address the endogeneity issue and applying alternative gender diversity proxies. This paper contributes to the literature by providing additional insight into the vague relationship between female directors and R&D spending by specifically looking into this relationship through different theoretical lenses: upper echelons theory and agency theory. The findings of the study are valuable for both pharmaceutical firms and policymakers interested in boosting innovation investment and improving monitoring mechanisms within a corporate governance structure.

The rabbit industry has a lot of livelihood and economic potentials. However, constraints such as inadequate production of rabbit to meet customer demand serve as hindrances to the growth of the industry. Commercialization of rabbit production will increase rabbit products which will be beneficial to both farmers and consumers. This paper examines the profitability and viability of commercialization of rabbit production among rabbit farmers in Ghana. The study used primary data collected from 200 rabbit farmers in Upper Denkyira East Municipal of Ghana using a multi-stage sampling approach. Descriptive statistics, income statement as well as discounted and undiscounted measures of project worth were the methods of analysis. The results showed that the gross margins for commercialized and non-commercialized rabbit producers were GH¢1,309.49 (US$221.95) and GH¢907.19 (US$153.76) respectively. Also, whereas the net income and return on investment for commercialized rabbit producers were GH¢689.14 (US$116.80) and 50% respectively, those of non-commercialized producers were GH¢511.07 (US$86.62) and 60% respectively. In addition, at a discount rate of 30%, the viability analysis revealed an NPV of GH¢1,456.10 (US$246.80), BCR of 1.37 and IRR of 36.53%. Finally, the results of the payback period analysis showed that it will take three (3) months to repay the initial investment. We conclude from the aforementioned results that commercialization of rabbit production is both profitable and viable. Government, investors and other stakeholders are therefore encouraged to consider investments in commercialization of rabbit production or its promotion as a way of improving livelihood and reducing poverty in especially rural communities where production inputs are relatively cheaper and poverty is endemic.

Social ties, as informal institutions, contribute to firms’ performance in emerging economies. Formal market-supporting institutions in emerging economies are in general less developed, social ties cultivated by entrepreneurs thus serve as substitutes for formal institutional support. However, the role of social ties as informal institutions and interactions between social ties and market-supporting institutions are yet to be fully explored. Using the sample of 428 newly listed firms on the Growth Enterprise Market of Shenzhen Stock Exchange of China between 2009 and 2016, this paper examines the interplays among the entrepreneurial founder's political ties and managerial ties, marketization, and firm's productivity, measured by firm-level total factor productivity. Our findings indicate that the entrepreneurial founder's managerial ties enhance firm productivity whilst political ties reduce productivity. We also find that marketization positively moderates the effects of the entrepreneurial founder's political and managerial ties on productivity. Our findings demonstrate the strategic importance of the informal institutions and contribute to an improved understanding of the complementary effects between social ties and marketization in an important emerging economy.

The pandemic has highlighted the fact that healthcare systems around the world are under pressure. Demographic change is leading to an increasing shortage of care workers in most countries, and the demographic challenge is only just beginning in most societies. While robots are widely used in industry, robotic support in healthcare is still limited to very specialized robots in the operating theatre. The question of what type of deployment is likely to be successful in a healthcare scenario is not only a technological or economical question but also one of technology acceptance. The answer to this question supports entrepreneurial opportunities to develop sustainable healthcare solutions.In this paper, we analyze the acceptance of robots in elderly care from the perspective of patients, patient families, and geriatric care professionals. To understand the various positions and to identify the suitability of existing acceptance models, we applied stakeholder mapping to conduct qualitative interviews with 14 people with different knowledge backgrounds and levels of involvement in care situations, based on 9 videos showing different robots and application scenarios.The results confirmed that existing technology acceptance models need to be extended by factors such as robot appearance. We found that the background knowledge of the respondents influences the results of the questions about e.g. safety concerns. In addition, we found that the contribution to patients' self-determination and independence is an important factor that is not included in existing technology acceptance models. Finally, the discovery of a significant discrepancy between the self-perception and the external perception of the different stakeholders regarding the acceptance of a service robot can be explained by the stakeholder positions involved in caring for the benefit of a specific patient.These findings encourage further research, especially with the underlying assumption that technology acceptance in healthcare is not just a patient issue, but a stakeholder issue. Stakeholder mapping is a valid tool to analyze the interdependencies for the acceptance of robots. Therefore, we suggest using a tool such as stakeholder mapping to further analyze these issues.