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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.

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.

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.

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.

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.

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 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.

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 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.

The paper critically evaluates the bottlenecks inherent in India's low carbon value chain that is financed by green bonds and related debt securities. The paper identifies three cardinal limitations of the value chain viz. unviable carbon mitigation projects, insufficient market competitiveness of green bonds issued from India and the inability of refinancing institutions to securitise their liabilities and overcome the problem of asset-liability mismatch. It is argued that a climate financial architecture that overcomes these limitations provides important lessons to the ongoing global efforts to strengthen the financial mechanisms laid down by the Paris Agreement on Climate Change.

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.

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.

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.

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.

Although sharing has for a long time been a well-established principle to deal with resource shortages on a private level, the important impact of establishing sharing as business principle has only recently been highlighted by business practice as well as research. Sharing can be considered a relevant means to easily enhance resource endowment – nevertheless, making use of sharing in a business context calls for the employment of new, innovative business models. In this paper, we have a deeper look at the evolvement of carsharing business models as we present insights from a longitudinal qualitative-empirical study of six carsharing providers. We employ a process perspective to dig deeper into firm-level influence factors that are core elements of strategic renewal and drivers of subsequent business model innovation. Additionally, we show how strategic activities of the different market players are linked to each other and how this interplay affects our case firms. Our paper sheds light on the strategy renewal-business model innovation interface and contributes to strategy process literature and to business model innovation research.

Development of competencies for Open Innovation (OI) plays a very important role since new skills and abilities are required at all levels: to design and adapt products and processes, to develop new business models and to modify the organization of work and processes. This paper analyzes Education 4.0 features, main components, and characteristics; adaptation of teaching and learning practices to changed requirements of Industry 4.0 for the successful implementation of the Open Innovation model. This paper systematically reviews a total of 48 WoS and Scopus studies, ultimately allowing us to determine components of Education 4.0 used in the framework of the OI model in recent years. Four research questions have been directed to data analysis. The results showed that (a) there is little literature research on issues related to important aspects in the dynamics of open innovation (partnerships, critical thinking, self-assessment, leadership, friendships, and risk-taking); (b) the main literature focuses on a comprehensive study of knowledge and skill parameters, application of appropriate strategies for their development, there are gaps in character development and meta-learning; (c) there is a noticeable lack of research on the competence framework of OI aimed at schoolchildren and the use of learning and teaching strategies to strengthen open educational innovations in schools; and d) there is a lack of research on development of OI competencies using cloud resources. This paper is intended for researchers, education and open innovation experts interested in the possibilities of educational technologies for the further dynamic development of the OI model.

The UK government is promoting the Modern Methods of Construction (MMC) by presumption in favour due to outperforming traditional methods in meeting key industry goals. Despite the public construction sector’s recognition of the benefits, MMC uptake across this influential purchasing power is yet far from satisfactory. Such low adoption rates have been linked to MMC firms’ business strategies contributing to public clients’ indecision. To investigate such arguments, the study utilises a questionnaire survey and gathers responses from seventy-four decision-makers of UK-established MMC businesses. Results are then discussed in relation to the contingency theory from a Business Model Canvas (BMC) perspective, revealing the divergence between organisations outperforming others in the public sector, i.e. achieving fit. To the authors’ knowledge, this is the first construction management study to empirically propose the relationships between the nine business model elements of the BMC in relation to a specific market. The findings of this paper suggest the critical role of the Target Customer element in reaching alignment with the external environment by acting as a receiver and provider of information, superseding the importance of solely focusing on communicating added values and extended capabilities. Our findings also suggest that MMC organisations outperforming others in the UK public sector are those who are understanding public clients’ needs the most, and thus, continuously changing their business strategies to sustain alignment with any change in those needs. Overall, the paper proposes a three-dimensional consideration to achieve fit, namely, 1) internal consistency of the elements (inside-out), 2), changing external environment (outside-in), and 3) relationships between the nine elements (inside-in). The study depicts the problematic nature of the internal interrelations responsible for reaching fit in the UK public sector and deepens the understanding of how the nine BMC elements are supporting more informed and strategic decisions. Therefore, decision-makers are urged to pursue alignment by assessing the contingency of each decision made with respect to the proposed influences. Future research to focus on replicating the results in accordance with other theories involving technological and organisational change, maturity, and systems theory.

The most pressing environmental challenges of our society require radical solutions that would redesign the ways we produce, deliver, and consume goods and services. However, little is known about what actually drives the development of radical eco-innovations. This paper explores the concept of Open Eco-innovation (OEI), an innovation model that leverages external knowledge, resources, and partnerships to enhance internal eco-innovation. Based on the sample of 2 934 Spanish firms from a mixed variety of industries, we demonstrate that an open innovation approach is crucial when firms pursue eco-innovations, particularly when aiming for more radical solutions. Unlike other studies, we show that this importance varies depending on the forms of opening (cooperation vs. sourcing external knowledge), the choice of knowledge partners, and the intended level of eco-innovation radicalness. This paper addresses a gap in understanding the selection of appropriate forms of knowledge sourcing and the choice of knowledge partners for each level of eco-innovation radicalness. Our results also point to a potential mismatch between the importance of open innovation to develop impactful and innovative environmental solutions and a small percentage of organizations adopting this innovation approach.

The development of Web3 — a stack of decentralised technologies underpinned by blockchains — isn’t simply a technical or financing challenge, it is also a problem of innovation and entrepreneurial discovery. In this paper we apply the lens of user innovation toolkit theory to the development of Web3. Toolkits are an organizational design solution to an innovation problem with sticky and local information. Our aim is to explore how toolkits theory applies to Web3 innovation, proposing that Web3 innovation is being organized through toolkits (e.g., blockchains, token standards, DAO frameworks) that enable efficient organization of sticky information to facilitate innovation. The contribution of this paper is the first application of toolkits theory to Web3, reframing its development as a problem of entrepreneurship and innovation in the context of distributed information. We provide implications for the role of developers as user innovators, the economic problem of emergent toolkit stacking, and the design of toolkit business models.

This paper deals with the dynamics of market power with processors and retailers in the coffee supply chain in India. We develop an imperfect competition model that allows for the potential oligopoly and/or oligopsony power of retailers and processors with respect to adjacent stakeholders in the supply chain. We also empirically determine the presence/absence of market power among processors and retailers in the coffee supply chain in India. This paper highlights the existence of market power with processors in the coffee industry that plays an important role in the imperfect price transmission and should not be ignored when developing regulatory policies.

Corporate social performance (CSP) and corporate financial performance (CFP) have been studied widely in the last fifteen years. These major efforts in research and publication might have been expected to produce aligned results but is it not the case; this paper aims to study why there is no consensus among them. By using the bibliometric data obtained from Scopus, this paper looks at four bibliometric indicators (journals, authors, countries, areas) for published work. We look for papers between 1977 and 2018 and identify a total of 371. The findings reveal that there are at least five key journals publishing in CSP-CFP relationship. There is a lack of co-occurrence between authors, regarding areas, two distinct perspectives are detected: one based on sustainability and social responsibility and the other linked more closely to marketing, and both perspectives can be connected via stakeholder theory. It contributes using bibliometric approach, it shows a reason to align the results around the relationship between CSP-CFP and open the windows to create a theory. Finally, the findings of this paper provide insights to the researchers on the development of social responsibility. The disparity of results in this line enriches analysis but does not outcome in a single line of contribution to science, thus decreasing the potential for channelling studies into a single theory. This only seems possible if contributions can be focused on the nexus that unites them: stakeholder theory.

There is a lack of study examining the relationship between high-involvement HRM practice and innovation capability as mediated by knowledge sharing. So, the motivation of this paper is to study and explore potential intermediating roles of explicit and tacit knowledge sharing in linking high-involvement HRM practice and innovation capability under the possible moderator of market turbulence. Analysis of Moment Structures was used to measure validation and test the structural model based on the questionnaire surveys of 333 participators in 119 Vietnamese manufacturing and service enterprises from May to July 2021. The collected data were inspected and analyzed using SPSS and AMOS software version 22. The result advocates the proposed hypotheses relating to the intermediating role of KS in the HRM practices-innovation relationship. It spotlights the crucial character of market turbulence in driving the domination of high-involvement HRM practice on incremental and radical innovation. This paper remarkably increases the insights of the precursor role of high-involvement HRM practice, intermediating mechanism of KS activities, and the regulating influence of market turbulence in predicting and fostering radical and incremental innovation, thereby pushing forward the theory of HRM and innovation management.

Professionalisation of the roles that union officials play necessitates certain competencies in them to increase union effectiveness. This paper attempts to understand managerial competencies for union officials in the Indian context. Adopting an interdisciplinary approach, we developed a “mixed model” by matching competencies of student activists with those of union officials. Behavioural event interviews conducted with thirty-six union officials led to a competency dictionary with four competencies: result orientation, aligning critical constituencies, networking skills, and effective feedback sharing. Resting on the classical competency theories which have not seen application in industrial relations (IR) scholarship, this paper provides an actionable path to enhance union effectiveness.

Through this paper, we illustrate the concept of Farm Entrepreneurship in the light of value addition through qualitative data analysis using ATLAS.ti®. For this purpose we have analyzed (n = 120) Scopus articles published in the broad time frame (2000–2022). From the understanding of value addition in agri-entrepreneurship as a multi-layered approach, we analyzed the textual data focusing on four key dimensions of value addition, challenges, support measures and entrepreneurial identity of the farmers. This paper highlights that further research in these dimensions shall benefit potential agri-entrepreneurs and policymakers alike.

ABSTRACT: This paper raises the question of whether global innovation systems (GIS), the expanded networks of actors beyond national boundaries, could be a new sibling of innovation systems perspectives. We argue that in today’s globalized world, it is idoneous to analyze innovation activities in a global context rather than a national or regional one. To confirm this argument, first, previous research is reviewed to understand how the GIS perspective has emerged and what different aspects have enabled these discussions. Distinct gaps from a body of literature are identified, such as the lack of a united definition, leading causes, and empirical evidence of GIS. With this understanding of the GIS perspective’s background, this research aims to overcome the challenge of filling out these gaps using two-stage approaches. The first approach suggests three building blocks of the GIS perspective (global institutions, global actors and networks, and a global knowledge-base). Using the open innovation concept, the second approach measures the openness of national innovation systems (NIS) of the OECD DAC (Development Assistance Committee) member countries to represent the tangibility of the GIS perspective. The paper concludes that the GIS approach would provide us with a valuable viewpoint for analyzing current innovation activities in today’s globalized economy as the form of GIS perspective is observed when measured.

ABSTRACT: This paper examines the antecedents of cashless payment systems among businesses in Malaysia. The adoption of cashless payment systems by businesses has the potential to reduce the costs related to handling huge amounts of cash in the market and enhance transaction speed. Unfortunately, its current adoption in Malaysia is still small and very little is known about the factors. A seven-factor model based on the TOE framework was developed and tested. The partial least square (PLS) statistical approach was employed to analyze data collected from 200 business entities in Malaysia. The results reveal that compatibility and technology competence have higher significant relationships with the adoption of cashless payment systems. Management support, firm critical mass, competitive pressure, and information intensity are significantly related to the adoption of cashless payment systems, while firm size is not associated with it. The findings of this study provide significant practical implications for Malaysian stakeholders and technology vendors to recognize factors that affect a firm’s adoption of cashless payment systems to support business transactions. By investigating the phenomenon through the TOE framework, this study presents an integrated model of cashless payment systems by businesses. Our findings also offer guidance for future application of the PLS method in cashless payment and related research. The paper provides a more holistic understanding of the factors influencing cashless payment systems among businesses.

ABSTRACT: Open innovation (OI) has been implemented to develop competitive advantages based on the management of innovation with external players. As such, it is expected that the generalized adoption of OI practices needs to be nurtured by governmental public policies in order to enhance OI-based ecosystems. The role of open innovation ecosystems is known by the importance of multiple synergies among players/stakeholders, which are expected to be supported by regulations and funding to consolidate firms’ innovation results. This paper analyzes the role of regulations and funding on firms’ innovation performance using the double-hurdle estimation procedure. The results show that, in the first tier, inbound knowledge flows positively affect performance, and, in the second tier, public funds further reinforce innovation performance and fiscal and security regulations. In contrast, as regulations are perceived as barriers, they fail to impact innovation performance. With this paper, we manage to shed light on the importance of public policy funds in the support of thriving OI-based ecosystems as enhancers of firms’ innovation performance.

ABSTRACT: This paper outlines the importance and role of non-product-related brand attributes, e.g., user imagery and usage imagery, in local news media content consumption by a younger audience aged 15–24. Due to technological developments, new media content consumption patterns have emerged. New dynamic, interactive, and multiplatform marketplaces have changed how media brands deliver content and how audiences consume it. The main catalysts of change are multiple platforms, on-demand content consumption, and social media platforms. The increasing use of global social networks offers media brands possibilities to distribute content and connect with their audiences, all while creating new challenges and competition in local media. These changes have brought about possibilities of broadening media audiences, as well as challenges, e.g., because of decreasing media brand associations and preference being given to social media platforms and global media brands. Generation Z’s traditional media consumption patterns are below average. This audience segment prefers mobile access and online media content on various platforms, uses social media more than other age range audiences, and chooses global media and social media platforms over national media brands. These dynamics increase the challenges for local news media brands in attracting and growing a future audience, as Generation Z consumes fewer national media content in their local or national language, and what they do consume is through the medium of social media. The authors analyse media consumption trends in Latvia and determine how media brands increase their equity and the consumption of media regarding younger audiences. This research was designed to understand media consumption trends via secondary information analyses and employs a quantitative survey to identify non-product-related brand attitudes. The research question of this paper is concerned with defining how media brand associations affect content consumption and engagement. We used regression analyses to predict the most significant correlations between brand attributes and content consumption and concentration. The study focuses on national news media brands.

ABSTRACT: The research and development activity of a company determines the innovativeness of enterprises and economies. This kind of activity simultaneously influences the pace of their development and the level of competitiveness. With this in mind, the article—against the background of the characteristics of research and development activities—defines a framework for R&D&I activities for the steel industry in the conditions of popularization of the concept of Industry 4.0 and analyzes expenditures on R&D&I activities in Poland in 2010–2019. This topic is important because steel is one of the most important materials for the construction and the manufacture of steel products. It is very important to adjust the steel industry to the new market condition using research and development activities. The analysis was performed on the basis of data on expenditures on R&D&I activities by internal expenditures on R&D, expenditures on product and business process innovations and outlays on fixed assets for environmental protection through investments. The target of the paper is to find response on the three research questions formulated in the paper: what is the dynamics of the changes in the R&D expenditures in the Polish steel industry in 2010–2019 in comparison with the total industry in the country; what is the dynamics of changes in investment expenditures on new products and business process innovations in the Polish steel industry in 2010–2019; what is the level (dynamics) of investment outlays in environmental innovations in the Polish steel industry in 2010–2019? To conduct this analysis, we used the following methods: critical literature analysis, secondary data analysis, statistical methods. Industry 4.0 implementation in the steel industry has a strong, positive influence on the innovativeness of the company and on spending on innovations. On the basis of the data analyzed in the paper we observed that the increase of expenditure on R&D in the Polish steel industry was similar to that of other industries. As a result of the research, it was found that the dynamics of R&D expenditure in the Polish steel industry was consistent with the dynamics of expenditure calculated for the entire Polish Industry. At the same time, the sharp increase in R&D expenditure since 2018 was related to the implementation of the Industry 4.0 concept in the Polish industry. An interesting result of our research is the observed time lag in the form of a postponement of the growth of R&D expenditure after the emergence of the Industry 4.0 concept. We also observed that environmentally fixed capital expenditures may show fluctuating dynamics due to business cycles and legal restrictions to protect the environment. The added value of the publication is the framework of R&D&I activities for the steel industry and an in-depth analysis of R&D&I expenditures on the example of the metal producers in Poland in the last decade of growing interest in the concept of Industry 4.0 (I 4.0).

The aim of this paper is to relate innovation with the broadcasters' business model, by way of a bibliometric and review analysis. This comprises to study how they have incorporated the innovation and the effect of a disruptive innovation (as the Internet and other technologies) in their business model. To achieve these objectives a review of the scientific literature has been carried out, followed of an analysis in which obtained papers were classified according three dimensions: (i) Value Architecture Innovation, (ii) Value Offering Innovation and (iii) the Revenue Model Innovation. These dimensions are based on a reinterpretation of a previous classification which consider that business model innovation materialises with a change of the company that affects at least one out of the three mentioned dimensions. In this way, a classification of the reviewed documents has been established based on these dimensions, showing that broadcasters have adopted a sustained business model innovation, with 48%, 44% and only 8%, respectively, in each dimension. By means of a scientific mapping of the keywords of the documents reviewed, a series of main and secondary topics have been established within each dimension, which have been analysed in terms of their contents and temporal evolution. It discusses the difficulties faced by broadcasters in adapting to the new audiovisual ecosystem. This study also argues that the Internet is one of the most disruptive innovations they have had to face and, therefore, in order to survive, they must take on this type of innovation to transform their business model.

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.

ABSTRACT: This paper presents a framework of employee skills and competencies useful for developing occupational profiles for employees of companies transitioning towards Industry 4.0. The paper consists of a discussion of the theoretical and practical parts of case studies. The theoretical portion was created on the basis of a review of scientific literature and research studies regarding the competencies and skills of employees in the ongoing fourth industrial revolution. This part focuses on the skills profile of an Industry 4.0 employee and an Operator 4.0 (O4.0) from a creativity and innovativeness point of view. The link between the theoretical part and the case study analysis was a general framework for building the competencies and skills of the steelworker in the emerging fourth industrial revolution. The case study analysis covered the framework of competencies and skills of a metallurgist in smart manufacturing built into the organization of steel mills. Recruitment offers of a steel company implementing smart manufacturing (SM) projects and educational programmes of technical universities in the field of metallurgy were analysed. The aim of the study was to develop a framework for the profile of an employee working in an innovative company transforming to I4.0. The publication posed the following research questions (purposes/hypotheses): P1. To what extent do Polish companies in the metallurgical sector pay attention to creativity and innovation issues when looking for employees? P2. To what extent do the profile (portfolio) of metallurgy graduates of Polish technical universities turn their attention to the issues related to creativity and innovation?

ABSTRACT: This study explores the key determinants of Supply Chain 4.0 (SC4.0) maturity in the context of a developing country by examining the relationships between supply chain ambidexterity, supply chain agility, and the maturity of SC4.0. The study was carried out using the survey method involving 154 managers from Indonesian manufacturing companies. The SC4.0 maturity model was developed and tested using structural equation modeling. From our analysis, it was found that supply chain ambidexterity emphasizing on innovation positively influences the companies’ agility and SC4.0 maturity levels, and supply chain agility partially mediates supply chain ambidexterity. This paper contributes to the operationalization of SC4.0 maturity determinants that incorporate innovation and technological aspects and extends the extant literature by empirically elaborating the determinants and antecedents of SC4.0 maturity that may expedite the achievement of SC4.0 maturity. This implies that companies and supply chain professionals aiming at achieving their SC4.0 maturity should do so by being outward-looking and, at the same time, foster supply chain collaboration with external networks. This paper is pioneering the empirical study on SC4.0 and offers a means to achieving SC4.0 maturity through SC ambidexterity and SC agility, particularly in the context of a developing country.

Purpose: This paper seeks evidence of which variables, directly or indirectly, have influence on the entrepreneurial intention of university students in order to adequately plan activities to reinforce such intention for Spanish universities. Specifically, we introduce the variable of environmental awareness to test whether it induces a greater entrepreneurial intention. Study design/methodology/approach: The target population of the study has been students at the University of Oviedo who were enrolled in an undergraduate degree or a master's degree during the 2018–2019 academic year. A questionnaire has been sent obtaining the following data: 1,337 valid questionnaires, 2.58% sampling error rate for 95% confidence level, p = = q = = 0,5. To contrast the proposed hypotheses we have used the methodology of structural equations (SEM model). Findings: Starting from the Ajzen´s Theory (TPB) we demonstrate that both the attitude towards the entrepreneurial behaviour (PA) and the perceived behavioural control (PBC) exert a significant influence on the entrepreneurial intention (EI) of university students. This is not the case of the third construct of the TPB, namely the social norms (SNs). We have verified that PA partially mediates the relationship between the PBC and the EI and PA totally mediates the relationship between the PBC and the EI. We have corroborated that a high degree of environmental awareness of university student's exerts influence in their PA. Finally, it has been corroborated that the SNs which are most proactive towards entrepreneurship mediate the relationship between the student's EnvA and the PA. Originality/value: This paper proposes a variation of the model of planned behaviour (Ajzen's TPB) incorporating with the addition of mediating relationships amongst the variables and the introduction of the environmental awareness variable applied to the entrepreneurial intention of university student. The usefulness of this paper is to provide scientific evidence to support the inclusion of ecological transition in Estrategia España Nación Emprendedora.

ABSTRACT: Firms achieve their competitive advantage quickly through the concept framework of open innovation by integrating external inspiration with internal endowment when facing hyper-competition in the digital era. This paper deploys open innovation into building platform blocks by modular operators. These eight modular operators are splitting, augmenting, deleting, substituting, inversing, porting, configuring, and integrating. By means of case studies of two Taiwan Internet vendors, the results depict the manipulation strategies between eight modular operators to fit seven functional requirements for weaving social media, which are presence, identity, sharing, reputation, groups, conversations, and relationship. Finally, this paper advances propositions about the deployment of modularization strategies to develop a competitive platform.

ABSTRACT: For the past decade, Industry 4.0 has become the basis for building competitive advantage for business operations. The key technologies of Industry 4.0 are implemented in enterprises of various industries. This paper focuses on presenting the results of research on the influence of the Industry 4.0 concept on the operations of enterprises that are implementing smart manufacturing (SM) projects. The paper analyses the following areas of influence of projects on the enterprises’ operations: productivity, agility and speed, quality, competitiveness and enterprise value, profitability, staff reduction, delivery improvements, vertical and horizontal integration, resource savings, reduction of operating costs, technology adaptability and quality of machine operations. The paper belongs to the research paper category. The research tool was a questionnaire. The research was carried out in the segment of steel enterprises in Poland. The results of the presented research belong to pilot research of a segment of steel industry in Poland. The main conclusion of the study is that implementation of Industry 4.0 in the Polish steel sector had a positive influence on many factors strictly connected with the innovativeness of the company. Especially, the implementation of this conception in the steel sector leads to an increase in the quality of the product and the possibility to achieve a good level of customization of the product. Those factors are very important for the steel sector potential to succeed on the competitive market. The individual SM projects that were evaluated were a form of case study. The participants of the research were employees in managerial positions and operating technological installations in steel sector enterprises. In the opinion of the surveyed (79 people), depending on the type and scope of changes implemented in the company in the direction of Industry 4.0, decision-makers expect a higher quality of processes and products, the ability to meet customer requirements—the direction of the personalization of products and services, agility and flexibility of performed operations with the use of smart technology and accuracy and precision of performance higher than in the case of manual human activities.

ABSTRACT: This paper explores digital reality replication for cultural consumption and green-digital open-system innovation, along with responsible, sustainable practices fashioned in a post-COVID-19 era. We address these after the dystopian effects of lockdown on global tourism and, in particular, the looming crisis of unsustainable ‘overtourism’. The aim of this paper is to disclose problems and policies related to moderating consumption to more sustainable levels. The scope of the article tackles three fields: urban re-branding, fast fashion, and overtourism. Each problem area is analysed against the background of digital surveillance in the attention economy with the aid of a conceptual model. Accordingly, the principal objectives of this paper are to analyse key sustainability problem sources, evolutionary processes, and policy responses. The paper’s originality and value lie in its recognition of tractable problem engagement through conceptual and practicable methods. This contribution also explores other consumption modes that tourists appreciate, namely, retail activity and its unsustainable “fast fashion” obsession. Finally, the paper analyses urban soft branding, the third tourism attractor within the niche touristic activity of the creative-cultural and gastronomic kind, which also features impulses that affect the perpetuation of unsustainable touristic practices. Thus, this contribution also assesses various studies on tourism futures that exploit digital media to assist in conserving both natural and cultural environments. Accordingly, we first narrate the soft re-branding of an “Art City” as a “Fashion City” and consider the example of green-digital innovation in the cultural milieu of Florence, Italy, in light of criticism of the unsustainability of “fast fashion”. We consider which actions are envisioned or advised in the similarly “over-touristed” city of Venice. In a different vein, we consider whether the mobilisation of ‘pop celebrity’ performers such as audience engagers or influencers works for sustainable intervention through an assessment of the cultural interventions of Madonna in Lisbon. Finally, we anatomise “green” politics and policies for creative-cultural cities with the support of digital media to influence sustainable actions to moderate or, alternatively, revitalise polluted, congested, or otherwise over-touristed city centres. The greening of central Paris, Barcelona, Milan, and London offer a a series of examples of this type of moderation and revitalisation.

ABSTRACT: The Industry 4.0 paradigm represents the fourth industrial revolution, embodied by the marriage between information and communication technologies and manufacturing. Assessment campaigns are conducted to examine the status of deployment of that paradigm, mostly through self-assessment questionnaires. Each campaign is typically limited in scope, involving just a group of companies located in a few countries at most. Such limitation does not allow an overall view of Industry 4.0’s diffusion. In this paper, we offer that panoramic view through a systematic literature review. The number of papers devoted to Industry 4.0 assessment grows steadily. However, many papers do not provide essential information about the assessment campaigns they report, e.g., not detailing the number, type, or location of companies involved and the questionnaire employed. We observe a large diffusion in Europe and Asia but not in the U.S., with the Top 5 countries being Malaysia, Poland, Italy, Germany and Slovakia. The campaigns uniformly cover small, medium, and large companies but not all industrial sectors. The choice of questionnaires is extremely varied, with no standard emerging.

Trust is intimately connected with relational interactions, but does it also have a role to play in transactional exchanges? How would it differ? While trust has been discussed extensively in sharing economy research, the focus has been on trust cues created in exchanges between strangers, thereby approaching trust empirically rather than theoretically. Focusing on user trust, this paper investigates how trust constructs from relational interactions manifest in the sharing economy. This paper bridges sharing economy research with trust as a theoretical construct to investigate the well-established variables of ability, benevolence and integrity as components of trust in the sharing economy. The paper is based on a questionnaire survey of 175 users of Uber's co-driving service UberPop. Descriptive and regression analyses were conducted focusing on user trust in the platform and providers. The findings indicate how trust in transactional exchanges is shaped differently compared with trust in relational interactions. User trust in providers, which diminishes over time, is based on emotional traits, while user trust in the platform is based on functional components. The platform and providers thereby complement each other in terms of the trust created. This paper contributes to research on trust by focusing on trust in transactional exchanges, and to research on the sharing economy by investigating trust based on theoretical constructs.

The purpose of this paper is to review the state-of-the-art literature on Industry 4.0 and digitalisation in small and mid-sized enterprises (SMEs). The paper aims to extrapolate and organise recommendations for how to progress in these disciplines from a substantial number of studies. This is accomplished by a systematic literature review on publications within the period 2018–2021. For this purpose, a rigorous metadata analytics process is deployed to retrieve, filter, and structure large amounts of metadata to increase inclusiveness and transparency. The findings consist of 11 focus areas that are developed by extrapolating recommendations from the reviewed literature. These focus areas are structured using the technology-organisation-environment (TOE) framework, which is divided into subcategories. From these, three specific technology-focused recommendations are developed. Furthermore, the paper identifies some concerns with the current research methods due to the overall low implementation of Industry 4.0 in SMEs. This leads to suggesting that future research should engage in pragmatic research methods with attention to how digital technologies are applied in SMEs.

Context: What do Uber Ride, Airbnb Lodging, and eBay Marketplace have in common? All three platform business models generate extensive network effects (NfX) between providers and consumers. Network effects are the magic force that turns a single taxi service agency into a provider for an entire mobility market. Objective: The goal of this paper is to present an approach, namely the NfX Construction Guide, that enables the design of virtuous circles of network effects in two-sided markets for platform business models. Method: The research design we used to develop the NfX Construction Guide is inspired by action research and follows a technical action research method, by exploring the guide's applicability in a real-world project of a digital platform for smart rural areas. Contribution: The contribution of this paper is an approach, validated with ecosystem experts, that enables practitioners to design virtuous cycles of network effects for platform business models. Our results are summarized in reflective learnings about the applicability of the proposed approach.

The adoption of blockchain-based technologies by organisations can bring benefits in terms of firms' profitability, productivity and efficiency, making companies rethink their existing business models. However, as the technology is still developing and the research on the implications of the different types of blockchain networks (i.e. public, private, consortium) is scarce, their role in business model innovation requires closer attention. To address this gap, the paper provides a conceptual insight into the role of blockchain technology in companies with different value configurations by examining the technological conditions that can impact business models and probing the role of technology benefits in driving company value. The analysis contributes to the literature by discussing the business implications of innovative technologies and uncovering their positive and negative consequences for the value creation, delivery and capture activities. Such analysis sheds light on the functions of blockchains that have a differentiating impact on business processes. Also, the paper puts forward managerial implications by discussing the paths of business model innovation using blockchain technologies.

ABSTRACT: It is important for companies to be able to make their business models dynamic. This enables them to adapt to changing circumstances and remain viable. The aim of this paper is to combine insights from the literature on business models and business model dynamics into a comprehensive dynamic business model framework. The framework that is developed in this paper takes into account various origins of changes in business models (internal or external to the company) and various types of changes in business models (primary or secondary changes and forced changes or strategic choices) and also includes the issue of business model consistency. In order to combine different origins and different types of business model change into one dynamic business model framework, some simplifications of reality were needed. The framework is described in text and shown in a comprehensive picture. The application of the framework to two cases of renewable energy companies in Indonesia shows that the framework is able to capture business model dynamics in a simplified and comprehensive way and that it allows for case study comparison. In a thorough discussion, it is shown how the framework can be adapted to make it better able to represent more complex dynamics.

ABSTRACT: The article describes an innovative metrizable idea for systemic assessments of product quality within the baking industry. Complex product quality analysis requires the employment of metrizability criteria for factors that impact the quality of the product, and these are called determinants. Therefore, such analysis is only possible with the use of systems engineering. A system represents the potential of a manufacturing process, of major impact on quality. Composites of the manufacturing process make up the determinants of bread quality, grouped into three sets: raw materials, manufacturing technology, and manufacturing organization and technique. This paper also contains methodological implications for the construction of algorithms for manufacturing process potential determinants. Metrizable product quality assessment is a very important issue in the context of its implementation in manufacturing companies. Its use allows for obtaining comprehensive data on the quality status of a product. It is an important tool for analyzing and forecasting modern quality trends. The method presented in the article is new, innovative, and practical; and its vector representation may prove useful in Quality 4.0. The method could be an important point of reference for managers, directors, and decision makers who must determine the best metrizability criteria for systemic product quality assessments, and could prove useful in Industry 4.0 in the bakery industry. The main value of the paper is the presentation of a new, extensive method for systemic assessments of product quality based on vector analysis in industrial organization. We trialed the method in the baking industry. We concluded that the method is a contribution to management science, especially in the field of quality management, because this approach is not used in business and is not described in relevant international literature.

ABSTRACT: The aim of the present study is to provide an analysis of the literature about methods for assessing the impact of coaching on the performance of a company, and elaborate a framework of assessment methods emphasizing their use in the course of coaching interaction. The paper also explores the relationship between open innovation and coaching and proposes the themes for further research. The Scopus and Web of Science databases were selected for the review of the research papers in the business subject area. The review was guided by the following research questions: What methods are used for assessing the impact of coaching? How are these methods used in the course of the coaching interaction? How does coaching interrelate with open innovation? The findings suggest that the assessment of the impact of coaching on the individual’s behavior and performance of a company is considered from different perspectives. The methods differ based on the needs for the assessment whether the process evaluation or the outcome evaluation is required. The analysis of the literature proves that the relationship between coaching and open innovation is mutually advantageous.

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.

Purpose: Maintenance services have evolved hugely from an inevitable part of production as a failure fixing activity to an essential strategic element to accomplish several business objectives including profit making. With the growing maintenance service industries, sustainability has remained a challenge and have garnered a great deal of attention over the last two decades. Maintenance services' impact on sustainability is a known concern and almost all sustainability dimensions are affected either positively or negatively. The purpose of this paper is to review and discuss the related literature on different maintenance services and their impact on sustainability. Design/methodology/approach: This research aims to study these concepts (maintenance services, sustainability impact and digitalization) independently and in relation to each other through systematic literature review of high-quality articles, with a focus to understand the relation between maintenance and sustainability and depict the role of digitalization in achieving those sustainability goals. Findings: This study presented the trend and publications related to maintenance services and its sustainability impact throughout 2009 to 2020. Publications related to maintenance services and corresponding sustainability impact were analyzed as a problem space and publications related to digitalization were analyzed as a solution space. Based on the analysis, a discussion on digitalization of maintenance service was conducted to highlight possible benefits and improvements towards various sustainability impacts. Originality/value: Digitalization and digital technologies are evolving and advancing every day. It is still yet to be known, what role could digitalization play in the maintenance services' impact on sustainability. This paper contains a state of the art on publications and discussion related to the digitalization for sustainable maintenance services. It offers insights and information on the current body of knowledge to academics, researchers, practitioners, maintenance personnel, digital managers, development teams and stakeholders concerned with maintenance services.

ABSTRACT: With digitalization and the support of policies, the creative industries have shown rapid growth in the last 20 years. Open forms of collective learning, user engagement and social networks have become popular to generate IPs and values. Meanwhile, government policy can support the sectors through subsidies, regulations, standardization, and protections at regional and national levels. This paper aims to explore the role of government policy in the innovation of creative industries from a macro dynamic perspective. The research method combines a structured literature review, a secondary document review of industry reports and government policy, and thematic content analysis. Through in-depth studies of the UK’s and China’s animation sectors, the paper identifies key elements of closed innovation, social innovation, and open innovation systems in the market. Comparisons of national government policies since 2000 reveal different approaches for countries where creative sectors are well-established, and for those starting with limited knowledge resources. A dynamic model is developed to address the evolution of macro dynamic innovation systems and the role of policies as interactive mechanisms. Practical implementation and future research areas are also suggested.