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This review research paper delves into the pivotal domain of Green Supply Chain Management (GSCM), exploring the strategies employed by businesses to adopt and implement eco-friendly practices. As the global community grapples with the pressing challenges of climate change and environmental degradation, organizations are increasingly recognizing the imperative to integrate sustainability into their supply chain operations. The paper begins by providing a comprehensive overview of the conceptual framework underpinning GSCM, emphasizing its role in fostering environmental stewardship and corporate responsibility. Subsequently, it delves into a meticulous analysis of diverse strategies that enterprises employ to imbue their supply chains with environmentally conscious practices. These strategies encompass procurement of sustainable materials, eco-design, waste reduction, energy efficiency, and the adoption of green technologies. Furthermore, the review elucidates the multifaceted benefits accruing from the adoption of GSCM, ranging from cost savings and enhanced brand reputation to regulatory compliance and risk mitigation. The paper also navigates through the challenges faced by businesses in implementing green strategies, including initial investment costs, stakeholder alignment, and supply chain complexities. The synthesis of findings from various empirical studies and industry reports facilitates the identification of emerging trends and best practices in GSCM. Additionally, the paper offers insights into the role of technology, government policies, and collaboration among supply chain partners in advancing eco-friendly initiatives. This review paper contributes to the burgeoning discourse on sustainable business practices by providing a nuanced understanding of GSCM strategies. It serves as a valuable resource for academics, practitioners, and policymakers seeking to foster eco-friendly supply chain practices in the pursuit of a more sustainable and resilient global economy. [ABSTRACT FROM AUTHOR]

This article explores the challenges that businesses face in today's uncertain and dynamic organizational environment. It emphasizes the importance of incorporating entrepreneurship into corporate strategies to increase adaptability and create value. The article covers various sources of value creation, such as pricing strategies, innovation, unique selling propositions, market coalitions, and sensing and seizing opportunities. It also discusses the role of business ecosystems and stakeholders in fostering entrepreneurship, the importance of managerial attitudes and characteristics, and the relationship between entrepreneurship and firm performance. The article provides insights from specific papers in the issue, including topics such as modifying entrepreneurial strategies during crises, rural entrepreneurship, unethical attitudes and entrepreneurial intentions, and the relationship between entrepreneurial agility and organizational performance in the IT sector. Overall, the article aims to contribute to the understanding of entrepreneurial and managerial success in vibrant environments. [Extracted from the article]

This paper explores predicting early signals of business failure using modern models for bankruptcy prediction. It reviews how continuous operations enhance market value, strengthening competitiveness and reputation among stakeholders. The study involves medium and large companies in the Montenegrin market from 2015 to 2020, comprising 30 bankrupt and 70 financially stable firms. Logistic regression is also employed to create a logit model for early detection of bankruptcy signals in companies. This research establishes the empirical validity of modern models in predicting business failure in the Montenegrin market, particularly through logistic regression. Significant indicators, such as the Degree of Indebtedness (DI) and turnover ratio of business assets (TR), exhibit strong predictive power with a p-value less than 0.001 according to Likelihood ratio tests. The paper underscores the potential benefits of bankruptcy prediction for both internal and external stakeholders, especially investors, in enhancing the competitiveness of Montenegro's large and medium-sized companies. Notably, the research contributes by bridging the gap between theory and practice in Montenegro, as bankruptcy prediction models have not been extensively applied in the market. The authors suggest the possible applicability of the created logit model to neighboring countries with similar economic development levels. In that sense, the concept of predicting bankruptcy is positioned as integral to corporate strategy, impacting the overall reduction of bankruptcies. The paper concludes by highlighting its role as a foundation for future research, addressing the literature gap in the application of bankruptcy prediction models in Montenegro. The created logit model, tailored to the specific needs of Montenegrin companies, is presented as an original contribution, emphasizing its potential to strengthen the competitiveness of companies in the market. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of four demographic variables and four perceptual drivers identified through a review of the existing literature on adopting subscription-based e-commerce models. Seven hypotheses were tested on a convenience sample of 202 respondents from Croatia. Significant differences in subscription model acceptance were observed across age groups, while education level, employment status, and disposable income showed no significant relation to subscription model adoption in Croatia, although studies in other countries have indicated otherwise. This study also examined four factors (perceived trust, risk, usefulness, and ease of use) described with 21 critical success dimensions. The results showed positive relationships with perceived trust, usefulness, and ease of use and a negative relationship with perceived risk. Enhancing trust, usefulness, and ease of use while reducing perceived risks can boost subscription-based e-commerce adoption. Significant differences in perceived trust, risk, and usefulness were found between users of multiple products/services and non-users but not in perceived ease of use. These findings provide valuable insights for future scientific research on subscription-based models, given their growing popularity in e-commerce and the limited existing research. Additionally, this paper offers practical implications for businesses by enhancing their understanding of customers and the Croatian e-commerce market and by proposing innovative strategies and promotional approaches based on the research outcomes. [ABSTRACT FROM AUTHOR]

In recent years, disasters caused by climate change have brought marked losses to individual economic agents. To cope with fluctuating climate risks, climate policies have witnessed frequent adjustments worldwide, resulting in heightening uncertainty on climate policies that have become an important factor affecting business operations. This paper uses a fixed-effects model to study the role of climate policy uncertainty on the financialization of China's A-share listed enterprises. Our results find that a rise in climate policy uncertainty has a dampening effect on corporate financialization, while energy-intensive enterprises are most affected. Although climate policy uncertainty negatively impacts the size of enterprises' financial assets, the impact varies for different types of financial assets. We recommend that the government should maintain a robust climate policy to prevent frequent policy changes from harming company operations. This paper fills the gap by investigating the relationship between climate policy and corporate financialization. Under the backdrop of a rising climate policy uncertainty, our findings possess important implications for the improvement in enterprises' business strategies and policy effectiveness against global climate change. [ABSTRACT FROM AUTHOR]

This study aims to understand how an organization's values, norms and cultural habits influence operational efficiency, employee satisfaction and market competitiveness. Among the main objectives of this study, there is the clarification of the notions of "organizational culture" and "company performance", as well as the identification of their different dimensions. Investigating how different aspects of culture contribute to the financial and operational success of the company is also another objective of this paper. The paper also presents an analysis of Dufry UK's organizational culture, exemplifying how Dufry UK chooses to train its managers, based on the premise that the company's success lies in the manager's ability to organize and lead. In conclusion, the paper will provide a broad perspective on how organizational culture can be an engine of performance within companies, highlighting the importance of cultural management as an essential part of business strategy. [ABSTRACT FROM AUTHOR]

Goal: This paper aims to identify the dimensions that impact the perception of the quality of Brazilian air services in the eyes of customers, using a questionnaire based on the SERVPERF model adapted for the service studied as a data collection instrument. Design/Methodology/Approach: The research used a quantitative approach, in which 810 questionnaires were analyzed using Structural Equation Modeling methodology. Results: The results showed that the relationship between quality perceived by clients and the dimensions of quality Tangibles and Empathy were those confirmed by Structural Equation Modeling in this research. The fact that the study is exploratory, and temporal indicates that in this period, Brazilian consumers attach more importance to the environment and appearance of aircraft, equipment, and employees of the companies and that their needs are met in a personalized way. Limitations of the investigation: Only Tangibles and Empathy dimensions were confirmed. Practical implications: With the feedback of the customer, including the constant need for an accuracy of the assumptions and hypotheses studied in this paper, an airline can identify what the real needs of its customer must be met and, in its strategic planning, identify the possible actions to be implemented, such as the priority of the investments, and, thus, to be able to increase the competitive advantage, offering the clients what they prioritize. Originality/Value: The information brought by this research can support the development of business strategies oriented in aspects related to tangible elements and empathy in the service to add value to the service perceived by the clients, contributing to the development of the activity and the sector. [ABSTRACT FROM AUTHOR]

Multinational companies (MNCs) compete each other in a very tough business environment. They try to gain new customers while maintaining the old ones and improving the relationships with them. In order to achieve customer satisfaction and loyalty, MNCs develop strong customer relationship management (CRM) strategies and techniques to further enhance the existing collaborations. In addition, companies race each other in innovations. In pursuance of providing new or enhanced products to their customers, MNCs innovate continuously. A high degree of innovation preserves customers' interest. The current paper aims to investigate the potential connection between innovation and customer relationship management at the level of top multinational companies activating in consumer goods industry. The methodology employed is documentation based on the analysis of the web sites discourse of top MNC, followed by testing the correlation between CRM and innovation. Results show that there is a rather weak, negative correlation between CRM dimensions and innovation types in the studied MNC, with only few positive associations. Therefore, practitioners need to adapt their business strategies individually when planning to innovate or to implement CRM at company level. [ABSTRACT FROM AUTHOR]

The bioeconomy model provides an alternative view of global economic systems by putting sustainable practices combined with digital approaches at the forefront to tackle issues such as climate change. To address this new business trends, financial institutions began to set up the environmental, social, and governance (ESG) business units to evaluate their business strategies. This paper is aimed at examining the nonfinancial effect created by the digital transformation (DT) activities, highlighting the role of enterprise heterogeneity after the implementation of Environmental Protection Law (EPL) in China. We employ the panel data of A-share listed companies from 2010 to 2020, selecting DT and ESG indicators as the important representations of "Industry 5.0." Our empirical results demonstrate a positive impact of EPL on the ESG performance in sight of resource enterprises (REs), environmental enterprises (EEs), and polluting enterprises (PEs), but a negative impact of EPL on the DT indicators among those environmental related industries. Additional causal relationship regression reveals that enterprise DT has an intrinsic promoting effect on the ESG performance, emphasizing on the high risk of digitization process being the shock transmitters to enterprise nonfinancial indices. Notably, the connectedness of environmental policy illustrates dynamic patterns by parallel trend test and propensity score matching (PSM) DID regression. This paper is prone to benefit lawmakers, regulators, and firm executives responsible for analyzing and assessing enterprise digitization behavior by exploring the influence of macrolevel environmental policy. [ABSTRACT FROM AUTHOR]

The objective of the paper is to analyse and compare the consequences of the coronacrisis on the entrepreneurship of small and medium-sized enterprises (SMEs) in Slovakia and the Czech Republic with the aim of identifying the determinants of changes in entrepreneurship. The secondary empirical research was carried out based on the analysis of secondary and primary data. The analysis used economic indicators of SMEs, governmental measures and surveys of the views of entrepreneurs. The analysis used data from statistical databases and official reports from government institutions and non-governmental organisations (NGOs), as well as data from primary surveys conducted by NGOs. Descriptive statistics, financial analysis and cross-comparison methods were used to process the data. The results revealed changes in the business of SMEs in the Czech Republic and Slovakia during the crisis, such as the adaptation of business strategies, improvement of flexibility and acceleration of digitalisation processes. These changes highlighted the importance of building business agility. The summary of the main changes in SME business based on both secondary data and primary surveys and the perception of state anti-pandemic aid by managers as feedback to governments represent the main contributions of the paper. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper shows how convex incentives in vertical contracts between manufacturers and retailers can induce sales behavior with costs to consumers. We examine this problem in the automotive sector, where manufacturers commonly motivate new vehicle sales through dealer incentive programs with large discrete bonuses determined by monthly sales targets. Using subprime car loans from over 3,500 dealerships, we document high default rates on new car loans originated at the end of the month—the period when dealerships attempt to secure target-based bonuses by intensifying efforts to sell new cars. We provide evidence consistent with the observed higher default rates resulting from customers purchasing new vehicles at month end. New car purchases stretch borrower budgets and expose borrowers to rapid depreciation, which consigns the borrower with negative equity through much of the loan term. Our results imply that the quartile of customers with the highest payment-to-income ratio see default rates increase from 13.6% to 19.7% on the last day of the month. Although consumers bear high costs from increased defaults, we find no evidence that lenders that purchase the loans are hurt by the default increase. Our results demonstrate how the behaviors induced by convex incentive schemes for sales are borne by customers. This paper was accepted by David Simchi-Levi, business strategy. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4935. [ABSTRACT FROM AUTHOR]

Organizations that embrace innovative business strategies position themselves well for success. In this evolving technological landscape, businesses are increasingly focused on understanding consumer behaviors and preferences to tailor their products and services effectively. Notably, integrating neuroscience has become pivotal in achieving these goals, requiring its incorporation throughout various business processes. This comprehensive research review conducts a meta-analysis, synthesizing findings from numerous studies on applying neuroscience across diverse business domains. The primary objective is to identify innovative neuroscience approaches that can significantly revolutionize businesses. Through a meticulous literature exploration using PRISMA analysis, we discerned broad themes and further refined them into critical sub-themes. This thematic categorization enables a focused examination of each area of business research. The findings in this study uncovered vital intersections between neuroscience and business, offering valuable insights for corporations and researchers. In essence, the integration of neuroscientific techniques and artificial intelligence (AI)-based softwares into business practices is no longer optional, but a necessity for businesses to stay competitive in today's fast-paced world. This study, therefore, plays a crucial role in connecting the state-of-the-art tools and techniques in neuroscience and traditional business practices. It paves the way for a new era of business operations, where science and technology work hand in hand with commerce to create a more prosperous and sustainable future. In conclusion, the paper emphasizes the importance of incorporating neuroscience techniques and newly developed AI-based softwares into business practices. This integration can yield precise and favorable outcomes, offering businesses the tools to thrive in an ever-changing market environment. [ABSTRACT FROM AUTHOR]

Blast furnace ironmaking plays an important role in modern industry and the development of the economy. A reasonable ingredient scheme is crucial for energy efficiency and emission reduction in blast furnace production. Determining the right blast furnace ingredients is a complicated process; therefore, this study examines the optimization of the ingredient ratio. In this paper a model of the blast furnace ingredients is established by considering cost of per ton iron, CO2 emissions, and the theoretical coke ratio as the objective functions; ingredient parameters, process parameters, main and by-product parameters as variables; and the blast furnace smelting theory and equilibrium equation as constraints. Then, the model is solved by using an improved grey wolf optimization algorithm and an improved multi-objective grey wolf optimization algorithm. Using the data collected from the steel mill, the conclusion is that multi-objective optimization can consider the indexes of each target, so that the values of all the targets are excellent; we also compared the multi-objective solution results with the original production scheme of the steel mill, and we found that using the blast furnace ingredient scheme optimized in this study can reduce the cost of iron per ton, CO2 emissions per ton, and the theoretical coke ratio in blast furnace production by 350 CNY/t, 1000 kg/t, and 20 kg/t, respectively, compared with the original production plan. Thus, steel mill decision makers can choose the blast furnace ingredients according to different business strategies and the actual needs of steel mills can be better met. [ABSTRACT FROM AUTHOR]

The corporate strategic planning of businesses in sub-Saharan Africa (SSA) largely focuses on immediate financial performance with minimal credence to social sustainability. Thus, studies on the linkage between corporate governance (CG) and sustainability reporting have focused on developed economies. This study therefore investigated the role of institutional ownership in the impact of board committee characteristics on social sustainability reporting. This study involved strongly balanced panel data with 1969 observations of 275 publicly listed non-financial firms in SSA within the timeframe of 2012 to 2021. Data were analyzed using STATA 14.1. The hypotheses were tested using the two-step system of the generalized method of moment (GMM) using the Arellano–Bond dynamic panel data estimation method. The rate of social sustainability reporting was 39.4%. Relatively, Mauritian and South African firms had the most effective board committee characteristics and higher levels of social sustainability reporting. Although institutional ownership had no significant effect on social sustainability reporting, it moderated the effect of sustainability committee independence and sustainability committee gender diversity on social sustainability reporting. This paper presents a new perspective on the corporate governance and social sustainability literature by examining the effect of institutional ownership on board committee characteristics and social sustainability reporting in SSA. In terms of policy implication, there is the need for mandatory regulatory and legal CG framework that is regularly updated at national and regional levels in SSA to motivate listed firms to establish sustainability committees with efficient characteristics to promote social sustainability reporting. [ABSTRACT FROM AUTHOR]

This paper presents a profit optimization model for substitute products in a competitive, time-sensitive market with scarcity and shifting user preferences. The model maximizes profit, considering production costs and inventory maintenance. It uses a discrete choice model to represent demand, sensitivity to price, availability, and changing preferences. A two-phase PSO-type metaheuristic solution tackles the nonlinear, recursive model, efficiently managing inventories and evolving consumer preferences. The model integrates production decisions, inventories, and sales prices, considering scarcity conditions and user preferences. It uses a multinomial logit for the consumers' demand function with soft exogenous constraints, which influence utility and change consumption preferences and choices. This research offers a tool for companies to manage stock, production, and pricing in a context where goods are substitutes, providing a new perspective on business strategy. [ABSTRACT FROM AUTHOR]

Compared with existing payment systems, Bitcoin's throughput is low. Designed to address Bitcoin's scalability challenge, the Lightning Network (LN) is a protocol allowing two parties to secure bitcoin payments and escrow holdings between them. In a lightning channel, each party commits collateral toward future payments to the counterparty and payments are cryptographically secured updates of collaterals. The network of channels increases transaction speed and reduces blockchain congestion. This paper (i) identifies conditions for two parties to optimally establish a channel, (ii) finds explicit formulas for channel costs, (iii) obtains the optimal collaterals and savings entailed, and (iv) derives the implied reduction in congestion of the blockchain. Unidirectional channels costs grow with the square-root of payment rates, while symmetric bidirectional channels with their cubic root. Asymmetric bidirectional channels are akin to unidirectional when payment rates are significantly different, otherwise to symmetric bidirectional. This paper was accepted by Joshua Gans, business strategy. Funding: Partially supported by SFI (16/IA/4443, 16/SPP/3347), Columbia-IBM Center for Blockchain and Data Transparency, Chaire Fintech at University Paris Dauphine—PSL, Algorand Foundation, and Simons Institute. [ABSTRACT FROM AUTHOR]

This article explores the relationship between corporate social responsibility (CSR) and environmental governance in the mining sector, focusing on the case of CODELCO, a Chilean copper mining company. The study examines the factors that triggered changes in CSR strategies and the types of organizational changes that were introduced. The article argues that CSR strategies in the mining sector are influenced by a combination of national and subnational factors, including tightening environmental regulations, social conflicts, and reputational crises. The paper contributes to the literature on CSR and environmental governance by providing empirical evidence and proposing a three-level institutional framework to analyze the evolution of CSR. [Extracted from the article]

As a response to the damage caused by the spread of COVID-19, the Chinese government has implemented severe quarantine measures that have greatly affected the operational patterns of small and medium-sized enterprises (SMEs). This paper explores the critical role of dynamic capabilities (DCs) in helping Chinese SMEs manage crises, adjust their business strategies, and mitigate the uncertainty caused by the epidemic. Although the importance of DCs in promoting organizational resilience is well recognized, academic research on their specific contributions to business model innovation (BMI) and SME performance improvement during crises remains scarce. Our study fills this gap by pioneering the development and empirical testing of a microintegrated mediation model linking DCs, BMI and organizational performance. By surveying 257 Chinese SMEs severely affected by a pandemic, we verify our hypotheses using partial least squares structural equation modeling (PLS-SEM). Our results strongly show a positive relationship between DCs and BMI and SME performance. In addition, we found that BMI plays a partial mediating role in the interrelationship between DCs and SME performance. Our findings clarify the critical role of BMI as a channel through which SMEs' DCs can be transformed into higher performance in the face of sudden crises. Thus, our results not only contribute to the broader discussion of strategic management and organizational theory but also provide theoretical and practical insights into the mechanisms by which SMEs can increase their flexibility and resilience in a crisis. Thus, our results not only contribute to the broader discussion of strategic management and organizational theory but also provide theoretical and practical insights into the mechanisms by which SMEs can increase their flexibility and resilience in a crisis. Importantly, this study suggests policy and market strategies that can support SMEs in leveraging DCs and BMI for sustained performance, thereby contributing valuable insights for policymakers and business leaders aiming to fortify economic stability and growth in the face of global health emergencies. [ABSTRACT FROM AUTHOR]

This paper evaluates the real effects of the new lease standard, ASC 842, on firms' investment and operational outcomes. Using a sample of airline companies, we find that, subsequent to the promulgation of ASC 842 (2016–2018), public airlines reduce operating lease usage by about seven to ten percentage points relative to private airlines. The reduced lease usage is replaced by increased ownership, suggesting an equilibrium shift in firms' investment due to changes in the cost-benefit tradeoffs associated with the operating lease classification. We also find evidence that the decline in lease usage hinders public airlines' operational flexibility, as we observe more idle capacity in flights post-ASC 842. Facing excess capacity, public airlines seem to deploy their aircraft to shorter flying routes, raising the possibility of more wear and tear on the fleet. Overall, our evidence suggests that the new lease standard has intended and unintended real effects. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: M41; M48; D22; D24; D25; E22; G38. [ABSTRACT FROM AUTHOR]

This paper investigates a duopoly game model in which two labor-managed firms compete in quantities. The game proceeds as follows. In the first stage, each labor-managed firm independently and simultaneously chooses the corporate social responsibility (CSR) level. In the second stage, each labormanaged firm independently and simultaneously chooses whether or not to offer the wage-rise contract policy (WRCP) as a strategic commitment device. If a labor-managed firm offers WRCP, it decides an output level and a wage premium rate. In addition, the labor-managed firm agrees to pay each employee a wage premium uniformly, provided that it actually produces more than the chosen output. At the end of the game, each labor-managed firm independently and simultaneously chooses an actual output. First, the paper examines the reaction functions of labor-managed firms in the model and shows that the reaction functions of labor-managed firms are upward-sloping. Next, this paper discusses the equilibrium of the model and shows that there is an equilibrium in which each labor-managed firm does not use CSR as a business strategy. [ABSTRACT FROM AUTHOR]

Major companies in the global market have made significant investments in artificial intelligence-assisted technology to increase the value of their products and services, which gives the implementation of artificial intelligence an extremely important role. Starting from these premises, the authors set out to evaluate the transformation level of companies in terms of adopting technology based on artificial intelligence according to their level of digital maturity. For this purpose, qualitative research was used by deploying the inductive method, which allowed five distinct categories of companies with unique characteristics to be identified, generating an interval scale that illustrates the level of digital maturity and the ability to adopt and implement viable solutions based on artificial intelligence technology. This paper, in addition to identifying the digital transformation level of companies, offers solutions and recommendations for addressing the challenges encountered by the business environment, thus contributing to the understanding and development of strategies adapted to each situation that may appear on the market. [ABSTRACT FROM AUTHOR]

This paper delves into the evolving post-pandemic business arena, focusing on how liability options and social norms are reshaping industry structures. We anticipate lasting transformations due to the emergence of new safety standards that bridge the gap between corporate interests and societal welfare. To foster these changes, effective post-lockdown economic policies could encompass not only rigorous social standards but also specific financial incentives. Examples of such incentives include tax relief for businesses implementing comprehensive health protocols and subsidies for those transitioning to remote work or modifying production layouts to minimize infection risks. Our analysis delineates two predominant operational frameworks for firms in this new environment: the liability and property regimes. These are determined by each firm's financial outcomes and the extent of damages incurred, all measured against societal expectations. Firms within the liability regime may exhibit only partial compliance, often attributed to ambiguous standards and prevailing uncertainties, potentially leading to a dip in profits. In contrast, entities operating under the property regime are likely to engage in more extensive organizational restructuring. A key insight from our study is the paradigm shift in investment behavior, increasingly influenced by risk management, particularly in the strategic choice between liability and property rules. This shift is evident in how firms now prioritize managing potential external liabilities, such as environmental hazards or evolving regulatory landscapes, in their investment decisions. Consequently, the traditional growth-centric investment paradigm is being supplemented by strategies that emphasize safeguarding against various external risks, marking a significant realignment in corporate investment philosophies post-pandemic. This transition underscores the intricate interplay between economic policies, corporate strategies, and societal dynamics in the contemporary business milieu. [ABSTRACT FROM AUTHOR]

Highly skilled workers are not only a crucial and relatively scarce input into firms' productive and innovative processes, but are also a critical resource determining competitive advantage. An increasingly high proportion of these workers in the United States were born abroad and permitted to work on skilled worker visas. How do multinational firms respond when artificial constraints, namely, policies restricting skilled immigration, are placed on their ability to hire scarce human capital? This paper combines visa microdata and comprehensive data on U.S. multinational firm activity to demonstrate that firms respond to restrictions on H-1B immigration by increasing foreign affiliate employment at the intensive and extensive margins, particularly in China, India, and Canada. The most impacted jobs were R&D-intensive ones, but there is some evidence that non-R&D employment was also affected. The paper highlights a means by which firms can circumvent constraining policies and mitigate country-level risk, and it also suggests that, for the average multinational company (MNC), this means is imperfect; for every visa rejection, they hire 0.4 employees abroad. The most globalized MNCs are the most likely to respond to these restrictions by offshoring, highlighting that firm capabilities—in the form of prior internationalization—shape the decision and ability to offshore in response to skilled immigration restrictions; indeed, these firms hire 0.9 employees abroad for every visa rejection. More broadly, the paper provides evidence of a push factor for internationalizing knowledge activity: artificial constraints on resources result in firms circumventing restrictive policies in ways that may not be anticipated by policy makers. This paper was accepted by Alfonso Gambardella, business strategy. Funding: This work was supported by the Mack Institute for Innovation Management. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4715. [ABSTRACT FROM AUTHOR]

In this paper, we bring to the fore the role of relationships in serial acquirers. Through an in-depth, qualitative, longitudinal study, we explore how engaging in sequential and overlapping processes of postacquisition integration impairs the integration capabilities of serial acquirers. We identify how the relational dynamics that follow each individual integration initiative impede the ability of acquiring firms to operate business as usual, as well as to integrate new targets. Our study offers deep insight into the complexities of serial acquisitions, by conceptualizing the nature and composition of integration capabilities, and the role of relationships in organizations undergoing frequent changes. Based on our findings, we assert that relationships deserve more attention in serial acquisitions; they serve as mechanisms that provide the social fabric of coordination and capability development. [ABSTRACT FROM AUTHOR]

Despite the rapid growth of sustainable innovations in bioplastics for packaging industries, their diffusion into established markets has so far been hampered by ambiguous and asymmetrical communication between bioplastics producers and consumers (both businesses and end consumers), particularly related to bioplastics materials and their waste disposal procedures. This study looks into the communication processes, identifies barriers and investigates business strategies that can be adopted by bioplastic packaging industries to influence consumer adoption and proper disposal behaviour of bioplastic packaging. Based on a systematic review of 68 journal articles and guided by the signalling theory, the study found that connections with various signallers at the end‐of‐life of bioplastic packaging materials are required beyond the purview of the industrial sectors utilising the packaging. The paper proposes a conceptual framework incorporating new signal constructs specific to consumer‐facing sustainable innovation. The framework extends the signalling theory to be used as part of the bioplastic packaging industry's business strategy. The paper also emphasises the importance of altering the communication mechanisms in order to boost bioplastics industrial practices, which will subsequently contribute to the reduction of the detrimental impacts of fossil‐based plastics on the environment. [ABSTRACT FROM AUTHOR]

The COVID-19 outbreak has altered consumer purchasing patterns and behavior worldwide. Online shopping services have grown rapidly in Vietnam in recent years, owing to the coronavirus's highly contagious nature and the convenience of online buying and delivery. For that reason, the authors carried out a study to determine online shopping intention, which aims to discover which factors affect intentions. Then, managerial implications are proposed to help businesses develop appropriate business strategies in the new, post-COVID period. The data was collected from 700 consumers buying online products. Five critical factors affecting online shopping intention were identified: perceived usefulness, ease of use, confidence, safety level, and customer service. The research paper applied structural equation modeling to study individual customers' intentions to purchase online shopping products by adding the customer service element to the research model and using a customer-oriented approach to find out users' intentions to purchase products on online platforms. [ABSTRACT FROM AUTHOR]

Copyright of Revista CEA is the property of Revista CEA and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Objective: This paper analyzes the relationship between business strategy and capital structure. Methods: Archival research was conducted with 488 observations of companies listed in Brasil, Bolsa, Balcão [B]3. As proxies of interest, the classification of companies into prospectors and defenders was adopted for business strategy, and the relationship between third-party and equity capital was used for capital structure. The econometric model was performed using ordinary least squares linear multiple regression, controlling for year and sector fixed effects. Results: The results reveal that business strategy relates to how a company finances its capital. Prospectors tend to depend more heavily on third-party capital, present more significant risks, and lower cash flow profitability than defender companies. In contrast, because defenders seek market dominance and make more conservative decisions, they generate funds internally to finance their activities. Contributions: These findings show that the aggressive behavior of companies toward capital financing may be linked to the choice of an expansion strategy, indicating that management decisions influence this financial information. [ABSTRACT FROM AUTHOR]

We study mergers between firms operating in data-connected markets: the data generated as a byproduct of the activity in market A can be used by firms operating in market B. The effects of such a merger depend on whether data trade among independent firms is possible and whether data use benefits consumers or leads to more surplus extraction. When data increases product B's quality, the merger benefits consumers in both markets if data cannot be traded absent the merger and harms them otherwise. When data are used to extract consumer surplus in market B, the merger increases consumer surplus in market A and reduces it in market B. This paper was accepted by Joshua Gans, business strategy. Funding: This work was supported by Agence Nationale de la Recherche [Grant ANR-17-EURE-0010] (Investissements d'Avenir program) to A. de Cornière; Oxford Internet Institute's Research Programme on AI, Government, and Policy, funded by the Dieter Schwarz Stiftung gGmbH to G. Taylor; and TSE Digital Center. [ABSTRACT FROM AUTHOR]

We provide a game-theoretic analysis of the problem of front-running attacks. We use it to distinguish attacks from legitimate competition among honest users for having their transactions included earlier in the block. We also use it to introduce an intuitive notion of the severity of front-running attacks. We then study a simple commit-reveal protocol and discuss its properties. This protocol has costs because it requires two messages and imposes a delay. However, we show that it prevents the most severe front-running attacks while preserving legitimate competition between users, guaranteeing that the earliest transaction in a block belongs to the honest user who values it the most. When the protocol does not fully eliminate attacks, it nonetheless benefits honest users because it reduces competition among attackers (and overall expenditure by attackers). This paper was accepted by Joshua Gans, business strategy. Funding: The authors gratefully acknowledge the financial support of the Ethereum Foundation [Grant FY22-0840]. [ABSTRACT FROM AUTHOR]

Purpose: Chewy, Inc. is a direct-to-consumer seller of pet food and supplies. Their approach involves a deep understanding of pet owners' needs and behaviors to provide personalized product recommendations and exceptional customer service. This case study aims to describe Chewy's growth strategies and how the company can remain a market leader. Design/methodology/approach: Using the customer value assessment tool, the authors examine Chewy's value proposition, including service, quality, image and price strategies. Findings: Chewy has built a loyal customer base that values the company's commitment to their pets' health and well-being. Future opportunities include focusing on pet wellness products and services, collaborating with veterinary providers in telemedicine and international expansion. Research limitations/implications: This work is largely conceptual and presents a descriptive case study which reviews Chewy's marketing strategy based on industry research as well as a customer value assessment via the service-quality-image-price framework. Practical implications: Corporate leaders must adapt to market change and create business strategies to deliver superior value for customers. This requires innovative products, services and processes. The strategic insights are applicable to retailers, service and technology firms and entrepreneurial companies seeking to scale their businesses. Originality/value: Chewy's highly competitive market includes Amazon, e-commerce pet supply companies and big-box pet stores. But it has dominated the online sector and has substantial growth prospects. This paper concludes with recommendations for management and questions for consideration. [ABSTRACT FROM AUTHOR]

This document is an editorial that provides an overview of a special issue on blockchain technology and its applications. The special issue covers a range of topics, including blockchain's impact on democratic elections, business models, data storage, network performance, and cloud computing authentication. The articles in the special issue explore innovative solutions and highlight the potential of blockchain technology to revolutionize various sectors. The document also discusses the challenges and future research directions in blockchain implementation. Overall, the special issue offers diverse perspectives and valuable insights into the practical applications and advancements of blockchain technology. [Extracted from the article]

The given document is the editor's word from the Revista de Educação e Pesquisa em Contabilidade, a quarterly journal published by the Academia Brasileira de Ciências Contábeis. The editor congratulates the papers published in this issue and highlights an analysis of the 2023 report, which revealed that the journal reached the same level as international journals in terms of approved articles, with a 90% rejection rate. The editor also provides a brief overview of the articles included in this issue, which cover topics such as the relationship between business strategy and capital structure, the influence of life cycle stages on the relationship between corporate governance and earnings management, the effect of the COVID-19 pandemic on intentional income smoothing, the relationship between intangible assets and risk disclosure among financial companies, and the impact of financial statement restatements on audit fees and firm replacements. The editor concludes by thanking the referees and researchers who contributed to the journal and encourages readers to continue submitting high-quality research. [Extracted from the article]

We propose a monopoly and Stackelberg duopoly model for "new economy" markets—with a Beckerian S-shaped demand curve at its center—that allows for intermediate degrees of firm focality and consumer heterogeneity. Because of network externalities, firms compete for the dominant market share, rather than the marginal consumer. This leads to a type of limit pricing—from within, rather than from outside the market—where the nondominant firm captures a positive market share that serves as a consolation prize. We characterize how firms' technologies, "consumer impulses" (which might be influenced by past sales, defaults, or advertising), and network externalities affect competition, and derive implications for firm strategy. Broadly speaking, we find that the dominant firm should adopt an aggressive "top-dog" stance (akin to, but not identical to, that of a firm seeking to deter rival entry), whereas the nondominant firm should respond with an accommodating "puppy-dog" approach. This paper was accepted by Alfonso Gambardella, business strategy. Funding: R. Akerlof received financial support from the Institute for New Economic Thinking. [ABSTRACT FROM AUTHOR]

Trialing an experience good allows consumers to learn their value for the sampled good and also informs beliefs about their value for similar products. These demand-side information spillovers across products create a relatively well-informed group of potential future consumers for rival firms. When both switching consumers and repeat buyers are profitable, firms face reduced incentives to set a low initial price to attract inexperienced consumers. Switchers and repeat buyers are more likely to be profitable in new product categories that build on major innovations and when firms can price discriminate based on purchasing history. We suggest that competing products and services arising from new innovations often have demand-side information spillovers from any product trial and are, hence, settings where competing firms can make overall profits even when selling products that consumers perceive to be indistinguishable prior to initial trial. This paper was accepted by Joshua Gans, business strategy. Funding: This work is supported by the National Natural Science Foundation of China (No. 71903046) and the "Shenzhen Peacock Program" (No. GA11409002). Supplemental Material: The e-companion is available at https://doi.org/10.1287/mnsc.2021.02754. [ABSTRACT FROM AUTHOR]

We develop a theory of credible skepticism in organizations to explain the main tradeoffs in organizing data generation, analysis, and reporting. In our designer-agent-principal game, the designer selects the information privately observed by the agent who can misreport it at a cost, whereas the principal can audit the report. We study three organizational levers: tampering prevention, tampering detection, and the allocation of the experimental-design task. We show that motivating informative experimentation while discouraging misreporting are often conflicting organizational goals. To incentivize experimentation, the principal foregoes a flawless tampering detection/prevention system and separates the tasks of experimental design and analysis. This paper was accepted by Alfonso Gambardella, business strategy. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2023.00207. [ABSTRACT FROM AUTHOR]

This paper has presented a case of the adoption of Internet of Things (IoT) technology in telecommunications in Pakistan. Through an exploratory case study, it has explored the need for IoT technology, the role of the telecom sector in IoT development, IoT strategies and business models adopted, challenges confronted, and benefits gained by telecom operators in Pakistan. The business-centric, customer-centric, and country-centric approaches were the basis for IoT technology adoption by telecom operators. By providing networks and connectivity, the telecom sector has played a significant role in the development of IoT. The telecom operators have developed their business strategies and used different business models to capitalize on their digital enabler role in the IoT domain. They also have faced challenges related to technological integration, infrastructure resources, and human resources when adopting IoT technology. The benefits realized by telecom operators were improved operational planning and processes, increased productivity, enhanced organizational performance, and IoT knowledge. These findings can guide practitioners, regulators, and policymakers in understanding the opportunities and implications of IoT in telecommunications. [ABSTRACT FROM AUTHOR]

The integration of sustainability factors in banking activities is becoming more urgent and necessary since banks are asked by regulatory and supervisory authorities to integrate Environment, Social and Governance (ESG) components in their risk management and governance frameworks. In literature, there is a lack of studies that assess the sustainability orientation of banks. We tried to fill this literature gap by providing a formal approach to evaluate the sustainability profile of Italian banks against the requirements of Article 111 bis of the National Normative Framework, which defines specific criteria for "sustainable banks". Exploiting a mixed‐method approach, we analyze banks' compliance with the requirements of Article 111 bis and develop a distance metric that allows us to evaluate the distance of traditional banks from a selected benchmark compliant with Article 111 bis. While our findings reveal that Italian banks fall short of complete compliance with Article 111 bis, positive trends, particularly in sustainable lending, are discernible. Our paper represents an initial reflection on the definition of a sustainable business strategy, identifying crucial aspects that can be considered in harmonizing the bank's transition path to sustainability. [ABSTRACT FROM AUTHOR]

This paper evaluates the effectiveness of a programme that aims to activate welfare recipients to become self-employed. We use unique administrative data which contain applicants for a self-employment programme between 2007 and 2010. We examine the long-term effects of the programme on people's welfare recipience, employment and income until 8 years after they applied to the programme. The estimations show positive long-term effects of being accepted into the programme. It seems that even applying to the programme and subsequently being rejected also had positive employment effects. This was probably due to the training and guidance the applicants received while writing a business plan, which was a prerequisite to participating in the programme. Moreover, a cost–benefit analysis showed that the programme is cost-effective. [ABSTRACT FROM AUTHOR]

Sustainability issues became ever more important for firms' business strategies. Not living up to public and stakeholders' expectations results in controversies damaging the firm's reputation. Firms integrate sustainability aspects – environmental, social, and governance (ESG) issues – in their business strategies to satisfy stakeholders ranging from customers to investors. Substantial resources are invested to increase their sustainability engagement to avoid sustainability‐related controversies. However, the degree to which sustainability engagement is effective is an open issue, as the occurrence of sustainability‐related controversies has structural components, which are under the firms' control, but also random components. Using data on firms' sustainability engagement, this paper investigates to what degree firms can actually avoid controversies by engaging in sustainability and to what degree such controversies are caused by factors beyond the firm's control, like random events or the societal environment. Our findings indicate strong sustainability engagement to be a significant factor for avoiding controversies, albeit the magnitude of the effect is very limited. While controversies are not purely random events, they are driven strongly by factors beyond the firm's strategic control, like firm size and country of origin. [ABSTRACT FROM AUTHOR]

In most platform environments, the exclusive provision of premium content from leading creators (superstars) is used as a strategy to boost user participation and secure a competitive edge vis-à-vis rivals. In this article, we study the impact of superstar exclusive content provision on platform competition and complementors' homing decisions. Two competing platforms facilitate interactions between consumers and suppliers, of which the latter are identified by the superstar and a fringe of complementors (e.g., independent developers, amateurs). When platform competition is intense, more consumers become affiliated with the platform favored by superstar exclusivity. This mechanism is self-reinforcing as it generates an entry cascade of complementors, and some complementors single home on the favored platform. We find that cross-group externalities are key in shaping market outcomes. First, exclusivity benefits complementors and might make consumers better off when cross-group externalities are large enough. Second, contrary to conventional wisdom, vertical integration (platform-superstar) may make exclusivity less likely than vertical separation under reasonable conditions. Finally, we discuss implications for the strategies of platform owners, managers of superstars and complementors, and antitrust enforcers. This paper was accepted by Joshua Gans, business strategy. Funding: L. Madio gratefully acknowledges financial support from the Economic and Social Research Council [Grant ES/J500215/1], the UCLouvain "Move-in" Fellowship Programme, the European Research Council under the European Union's Horizon 2020 Research and Innovation Programme [Grant 670494], and the Unicredit & Universities Foscolo Europe Fellowship. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2023.4720. [ABSTRACT FROM AUTHOR]

We introduce a model of advice in which firms steer advisors through nonlinear incentive schemes. In addition to developing an isomorphism to pricing with mixed bundling, we obtain three main insights. First, firms optimally use nonlinear bonuses to economize on the rent paid to advisors. Second, equilibrium bonus payments induce advisors to make biased recommendations that are artificially contingent on each other, resulting in an inefficient allocation. Third, if advisor liability is stepped up, firms respond by increasing the size of the bonus, leaving advisor bias unchanged. These results shed light on prevailing compensation practices for advisors and support direct regulatory interference. This paper was accepted by Joshua Gans, business strategy. [ABSTRACT FROM AUTHOR]

Tracking the movement of top managers across firms, we document the importance of manager-specific fixed effects in explaining heterogeneity in firm exposures to systematic risk. In equilibrium, manager fixed effects on systematic risk are positively related with manager fixed effects on stock returns. These differences in systematic risk are partially explained by managers' corporate strategies, such as their preferences for internal growth and financial conservatism. The early career experiences of managers starting their first job in a recession also contribute to differential loadings on systematic risk. These effects are more pronounced when managers wield more influence, as in smaller firms and firms that do not have an independent board. Overall, our results suggest that managers play an important role in shaping a firm's systematic risk. This paper was accepted by Victoria Ivashina, finance. Funding: A. Schoar acknowledges financial support from the MIT Sloan School of Management. K. Yeung acknowledges financial support from City University of Hong Kong and the Cornell SC Johnson College of Business. L. Zuo acknowledges financial support from the Cornell SC Johnson College of Business and the University of Toronto Roger Martin Award for Emerging Leaders. Supplemental Material: Data and the online appendix are available at https://doi.org/10.1287/mnsc.2023.4710. [ABSTRACT FROM AUTHOR]

Existing studies suggest that platform access restriction may cause restricted complementors to switch to competing platforms, which will increase complement quantity on competing platforms. We re-examine this prediction by accounting for the impact of economies of scope on complementor responses to platform access restriction. We argue that restricting a complementor's access on a platform may prevent it from achieving economies of scope from multi-homing, thereby incentivizing it to abandon both the restricted and (unrestricted) competing platforms. Using rideshare data in New York City, we compare the numbers of trips made by Lyft and Uber drivers, respectively, before and after Lyft restricted drivers' access on its platform. We find that Lyft's access restriction reduced trip numbers not only on Lyft but also on Uber. In addition, both Lyft's and Uber's trip numbers decreased not only during the restricted low-demand periods (e.g., non-rush hours) but also during the unrestricted high-demand periods (e.g., rush hours). In contrast, after a substantial number of multi-homing drivers left both platforms following Lyft's access restriction, a subsequent access restriction by Uber led to an increase in trip numbers on Lyft. These results highlight the importance of accounting for interdependencies across complementor activities when designing platform governance policies. This paper was accepted by Alfonso Gambardella, business strategy. Funding: H. D. Chung acknowledges support from the Strategic Research Foundation's Dissertation Research [Grant SRF-2021-DRG-8363]. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4706. [ABSTRACT FROM AUTHOR]

The conventional view tends to consider the social dimension of the circular economy as conspicuous by its absence. This paper draws attention to business strategies and organisational practices that bring together the valorisation of wasted material resources and marginalised people. Theoretically, we build on the literature on hybrid forms of organisation and management typical of the social and solidarity economy (SSE)—for example, social cooperatives—to introduce a more realistic and dynamic model of social and solidarity circular economy (SSCE). Offering a definition of SSCE based on existing hybrid organisational practices rather than abstract ideals, we juxtapose the SSCE and the current corporate‐led CE approach across three key dimensions: strategic aims; organisational boundaries and governance mechanisms. To illustrate how this SSCE works, we focus on the case of CAUTO, an Italian network of circular social cooperatives based in Northern Italy. We identify three intertwined steps through which CAUTO developed an effective SSCE strategy: social circular innovation, networked actions and participatory scaling up. Taken together, our findings suggest a realistic pathway to business circularity that is inclusive, pragmatic and embedded in social practices. [ABSTRACT FROM AUTHOR]