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This study investigates the adoption of artificial intelligence (AI) software in manufacturing companies in Slovenia, Slovakia and Croatia, and across six production areas. This research ad-dresses a gap in the literature regarding AI software implementation in relation to company size, technology intensity and supply chain role, and examines whether Industry 4.0 (I4.0) readiness influences AI adoption. Data from the European Manufacturing Survey 2022 were analyzed, and showed that the use of AI is still relatively low. On average only 18.4% of companies use AI software in at least one production area. Logistic regression analysis revealed that neither company size nor role in the supply chain or technology intensity are statistically significantly related to AI usage. However, a significant positive relationship was found between I4.0 readiness and AI adoption, suggesting that companies with advanced digital infrastructures and integrated cyber-physical systems are more likely to adopt AI. This finding underlines the importance of digital transformation for the integration of AI software. The study concludes that while company characteristics such as size and the role of the company in the supply chain are not statistically significantly related to the use of AI, the level of digital readiness is crucial. [ABSTRACT FROM AUTHOR]

This study examines how board gender diversity affects listed non-financial European companies' financial performance. Data from the Refinitiv Eikon Platform—LSEG and World Bank databases was used to complete the analysis. The total sample included 4257 companies for the period 2011–2023. This study examined board gender diversity and its interaction with liquidity while controlling for board characteristics such as board size, independence, and board meetings. Controlling for firm characteristics (firm size and leverage) and macroeconomic variables like inflation and GDP. This study estimated the connection using panel regression. Due to Hausman test significance, fixed effect estimation was used. The findings demonstrated a notable and favorable influence of board features, such as gender diversity, board independence, and board size, on European nonfinancial companies. Additionally, liquidity positively affects firm performance. Furthermore, the findings indicated that leverage had a significant negative impact on profitability. Finally, both the size and GDP have a significant beneficial impact on profitability. Our findings indicate that an increased representation of women on the board of directors is associated with greater independence among board members and a higher number of board members being hired. This, in turn, has a positive impact on profitability due to the extensive experience shared among board members. Additionally, this leads to improved governance, enabling better control over decisions and a greater focus on the long-term investment strategy of the company. Our results are robust, as are similar results reported by the GMM regression. [ABSTRACT FROM AUTHOR]

The board of directors appoints the audit committee to assess the financial performance of the firm. The audit committee uses reports provided by audit firms, such as Form 10Ks, and annual reports to assess firm financial performance. The degree of audit oversight quality is a governance measure, which, if effective, may reduce firm risk. This study measures the effect of three measures of audit oversight quality on insolvency risk, systematic risk, and volatility of return on assets for a sample of U.S. pharmaceutical firms and energy firms from 2010 to 2022. All measures of audit oversight quality reduced firm risk, with the first measure reducing both systematic risk and volatility of return on assets, the second measure reducing systematic risk, and the third measure reducing volatility of return on assets. As institutional ownership is also a governance measure, we tested whether its joint effect with audit oversight quality reduced firm risk. This hypothesis was supported for all three measures of audit oversight quality for systematic risk and for the third audit oversight quality measure for volatility of assets. Robustness was established by replicating the regressions with an alternate governance measure, which yielded similar results. Endogeneity of all audit oversight quality measures was absent due to lack of significance of leverage, firm size, equity multiplier, and firm value in reducing risk through their effect on audit oversight quality. [ABSTRACT FROM AUTHOR]

The impact of COVID-19 on the economy was devastating. Small businesses typically have few resources to fight against such adversity. Many businesses remained closed for some time during the pandemic period, resulting in significant consequences for people in terms of jobs, income and life. The objective of this research is to identify the factors that contributed to increasing company failures during the pandemic. Furthermore, this study aims to verify whether the size of the companies, the sectors of economic activity in which they operate and their geographic location influence enterprise failure. This article analyzes the survival of 8931 small businesses from 2017 to 2023, in Rio Grande do Sul, Brazil. The study applied a survival analysis using the Kaplan–Meier procedure, complemented with the Cox procedure, to determine the effects of the size of companies, sector activity and location on the survival time. The results indicate that survival is much higher in small companies with large revenues that are located in the Campaign and West Frontier regions, as well as in the Northeast, North, Production, South, Taquari, and Rio Pardo Valleys regions, whereas the survival rates were extremely lower in the commercial sector and in financial intermediation activities. In the second analysis restricted to the commerce sector, the data highlighted the retail activities, accommodation and food activities sectors as the most affected in terms of overall survival. The results indicated that the survival of small business remained relatively strong during the COVID-19 pandemic, signaling the pertinent support from the government. The smallest business with revenues under USD 15,576 (BRL 81,000) per year were the most affected, with only 39% survival after 7 years. Some activities and some regions suffered more than others, emphasizing the need for special attention from authorities in future catastrophes. [ABSTRACT FROM AUTHOR]

This research aims to examine the association between firm-specific and macroeconomic determinants and environmental expenditures in the Indian manufacturing sector. Furthermore, it seeks to investigate the moderation effect of country-level governance and economic development on the association between macroeconomic, firm-specific, and environmental expenditures. The current study is based on 70 manufacturing firms for the period of 2011 to 2021. The dependent variable is environmental expenditures and the independent variables are firm-specific and microeconomic determinants. The results revealed that market capitalization and firm size have a positive and significant impact on environmental expenditures. On the other hand, inflation and the rule of law negatively and significantly affect environmental expenditures. Regarding the moderation effect, the results revealed that the rule of law and GDP positively moderate the association between inflation and environmental expenditures. Hence, this research has significant implications for corporate executives, financial experts, regulators, and other interested parties. [ABSTRACT FROM AUTHOR]

Under the influence of pervasive digital revolution, the accessibility and analysis of 'big data' can provide useful insights and help various industries evolve. Despite the popularity of big data, the construction industry is lagging behind other industries in adopting big data technologies. This paper fills the knowledge gap by examining the status quo of big data adoption in companies with different sizes and roles, as well as that in projects with different types, and ascertaining the drivers for and challenges in adopting big data. This paper employed a structured questionnaire survey and statistical analyses to investigate the significance of factors influencing the drivers, challenges, and enhancement strategies of big data adoption, and validated the results with post-study interviews with construction professionals. The results show that big data adoption in the construction industry is affected by the size of companies and the work experience of their employees. Technology advancement, competitiveness, and government plan and policy initiatives are identified as the top three drivers of big data adoption in the construction sector. Moreover, a lack of appropriate supporting systems, difficulties in data collection, and the shortage of knowledge and experience are found to be the major challenges in big data adoption. Finally, the identified top three strategies for overcoming these challenges and promoting big data adoption are 'clear organization structure', 'government incentives', and 'the training of information technology (IT) personnel'. The paper suggests the necessity of creating differentiated strategies for big data adoption for companies with different scales and roles, and helps provide useful insights for policy-makers in promoting big data applications. [ABSTRACT FROM AUTHOR]

The construction industry has been identified as a major contributor to occupational accidents that can lead to fatalities. As a result, this study aims to evaluate the effectiveness of new safety and health regulations and revised guidelines in improving safety and health disclosures and performance within the construction industry. We retrieved safety and health disclosure reports from 25 Taiwanese construction companies between 2013 and 2020 using the Market Observation Post System website. We analyzed the data using the Kaplan–Meier method to assess the timing of disclosures and differences between larger (≥300 employees) and smaller (<300 employees) companies. We found that construction companies reported safety indicators more promptly than health indicators and that larger companies disclosed earlier compared to smaller ones. Only 45% of companies provide detailed reviews and preventative measures in their sustainability reports despite 64% disclosing occupational accidents. We found that from 2013 to 2020, more companies improved their occupational safety and health (OSH) reporting. This improvement coincided significantly with the adoption of international standards and Taiwan's government regulations. In summary, the study found that larger companies were more likely to disclose OSH data compared to smaller ones. This suggests that company size and available resources could have an impact on reporting practices. While some progress was made, companies still struggle to provide detailed reports on major accidents, balancing transparency with competitiveness. [ABSTRACT FROM AUTHOR]

Businesses investing in production digitalization equipment are supposed to benefit from increased productivity, enhanced efficiency, and revenue growth. Despite the increasing use of digital technologies in business, many companies still struggle to measure and maximize their returns from production digitalization investments. This research assesses the impact of production digitalization investments on companies' financial performance (operating revenue) for European businesses in the period of 2013 to 2021. To achieve this target, we performed a Fixed Effects Panel Regression analysis, using a sample size of 5706 records from the Orbis database for 30 countries, covering 634 business units. The production digitalization investment in this research is expressed by a calculated variable value, measured as the annual change in a company's Plant and Machinery value, adjusted with corresponding an annual depreciation value for the assets. The regression output was analyzed by considering the characteristics of the company size and business location. The results suggest that companies in Eastern Europe benefit more from production digitalization than those in Western Europe. The analysis highlights the tendency for the company costs of the employee and intangible fixed asset value to increase as production digitalization investments grow. Additionally, it shows that large companies tend to gain more from such investments than smaller ones. The analysis provides support and guidance for businesses' production digitalization investment strategic decision-making processes. [ABSTRACT FROM AUTHOR]

In recent years, the business environment has experienced a fast-paced change due to issues such as geopolitics or COVID-19. Accordingly, business internationalisation has been accelerated while the approaches followed for such an end have been improved to maintain companies' competitiveness. Within this context, this paper presents a new framework for the internationalisation of Earth Observation SMEs in two target countries: Australia and Chile. Internationalisation can be an effective strategy for SMEs to grow and expand, but it requires careful research, analysis and agile adaptation to markets and cultures through an integrative and innovative methodology. Secondly, a series of preparatory actions and several internationalisation strategies have been developed, including online bilateral meetings and online trade missions. This work is an innovation driver for the internationalisation of European SMEs, helping them to make the leap into two markets of great interest and in two very attractive sectors, agriculture and maritime, with remote sensing as the nexus. [ABSTRACT FROM AUTHOR]

The purpose of this study was to examine the key determinants of corporate governance in selected financial institutions. Using South African financial institutions as a unit of analysis, namely insurance companies and banks, the study employed a panel generalised method of moments (GMM) model using a data set for the period from 2007 to 2020, to assess key determinants of corporate governance proxies identified for the study. The study sampled 21 South African financial institutions composed of Johannesburg Securities Exchange (JSE) listed and unlisted banks and insurance companies. To measure corporate governance, the study developed a composite index employing the principal components analysis (PCA) method. The findings revealed a positive and significant association between the corporate governance index and its lagged variables. Furthermore, a significant and positive link was found between the efficiency ratio and corporate governance index and capital adequacy ratio (CAR); corporate governance index and firm size; corporate governance index and leverage ratio (LEV); and corporate governance index and return on assets (ROA). However, a negative and significant correlation was found between financial stability and the corporate governance index. The link between return on equity (ROE) and corporate governance was insignificant. A small cohort of financial institutions was excluded because it was challenging to obtain complete annual reports to extract the required data. The study was limited to only five corporate governance measures, namely board diversity, board size, board composition (independent non-executive directors and non-executive directors), and board remuneration. The findings are anticipated to persuade developing countries to pay special attention to how corporate governance is measured. [ABSTRACT FROM AUTHOR]

The establishment of government investment funds serves as a crucial measure for governments at all levels to leverage their certification role and financial resources in attracting social capital to support enterprise development. This paper empirically examines the guiding certification effect and governance supervision effect of government investment funds on enterprise value enhancement, utilising panel data from listed companies and government investment fund investment event data spanning the period from 2011 to 2021. The research findings reveal that government investment funds significantly enhance the value of recipient enterprises. By leveraging their guidance and certification effects and governance supervision effects, these funds alleviate financing constraints, actively participate in corporate governance, and ultimately enhance corporate value. The impact of government investment funds is negatively moderated by the age and size of the enterprise, indicating that the "invest in early-stage and small businesses" investment strategy yields better results in promoting value enhancement. Furthermore, heterogeneity analysis demonstrates that government investment funds have a more pronounced impact on the value of non-heavily polluting industries, enterprises located in the eastern and southern regions of China, and non-state-owned enterprises. This article expands the research scope of government investment funds at the micro level, providing empirical evidence and theoretical support for optimising government investment funding policies and fostering the development of a modern capital market with distinctive Chinese characteristics. [ABSTRACT FROM AUTHOR]

As companies increasingly undergo digital transformation, the role of talent management processes becomes pivotal in enhancing overall organizational performance. The objective of this research is to assess the extent to which greater digitalization in the talent management process is linked to company size. The research has addressed four research questions in order to explore the significance of talent management in corporate digital transformation, examining whether variations in the digitalization of these processes can be attributed to company size. A qualitative approach was employed, utilizing a questionnaire, and collecting responses from 202 organizations across diverse sectors. The findings reveal disparities in digitalization throughout the talent management process, with pronounced presence in the attracting, selecting, and rewarding phases, but diminishing in deployment and development, and further declining in planning. A positive correlation between company size and the adoption of specific digital platforms was observed. Larger enterprises exhibit greater utilization of digital platforms in talent deployment and development. Moreover, corporate communication tools are consistently utilized in the rewarding phase, irrespective of company size. These findings offer practical insights for organizations aiming to optimize their digitalization strategies based on their scale, thereby contributing to more effective and tailored digitalization endeavours. The uniqueness of this research lies in its exploration of the influence of company size on the digitalization of talent management processes and its potential to explain variations across different stages of these processes. [ABSTRACT FROM AUTHOR]

This study uses machine learning to investigate the effects of firm and CEO characteristics on stock price crash risk by collecting massive data on publicly listed firms in China. The results show that eXtreme Gradient Boosting (XGBoost) is the most effective model for predicting stock price crash risk, with relatively satisfactory performance. Meanwhile, the SHapley Additive exPlanations (SHAP) method is used to interpret the importance of features. The results show that the average weekly return of a firm over a year (RET) contributes the most and is negatively associated with crash risk, followed by Sigma, IPO age, and firm size. We also found that, among CEO characteristics, CEO pay contributes substantially to crash risk at the firm level. Our findings have important implications for research into the impact of firm and CEO characteristics on stock price crash risk and provide a novel way for investors to plan their investment decisions and risk-taking behavior rationally. [ABSTRACT FROM AUTHOR]

The trade distance is an important constraining factor underpinning the emergence of social and economic interactions of complex systems. However, agent-based studies supported by the granular analysis of distances are limited. Here, we present a complexity method that places the actual geographical locations of individual firms in Japan at the epicentre of our research. By combining methods derived from network science together with information theory measures, and by using a comprehensive dataset of Japanese inter-firm business transactions, we evaluate the effects of spatial features on the structural patterns of the economy. We find that the normalised probability distributions of the distances between interacting firms obey a power law like decay concomitant with the sizes of firms and regions. Furthermore, small firms would reach large distances to become customers of large firms, while trading between either only small firms or only large firms tends to be at smaller distances. Furthermore, a time evolution analysis suggests a reduction in the overall average trading distances in last 20 years. Lastly, our analysis concerning the trading dynamics among prefectures indicates that the preference to trade with neighbouring prefectures tends to be more pronounced at rural regions as opposed to the larger central conurbations. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the impact of industrial robotics, examining the process integration in a sample of +600 companies located in the Province of Brescia, an intensive industrial area in the North of Italy. Through a detailed economic investigation, this study analyses the adoption of robotic solutions in companies of varying sizes, using a survey and financial databases to investigate the most used types of robots, their applications, the impacts at the operational and personnel level, and the companies' growth (sales, employees, other). The results highlight a significant presence of robotic solutions, particularly articulated robots, in the large companies involved. Robotics diffusion positively correlates with significant improvements in terms of productivity and quality. The introduction of robots is associated with increased corporate growth indicators, including staff expansion. Large companies demonstrate a superior ability to adapt to these technologies, supported by more significant financial resources and a wide range of internal competencies for managing robots. Furthermore, large companies proactively hire qualified personnel or initiate internal training courses. Small and medium-sized enterprises (SMEs), although currently less equipped with robotic technologies, exhibit a significant interest in future adoption, highlighting the opportunity for growth and innovation. The results suggest that integrating robotics in the manufacturing sector not only constitutes an effective means to enhance operational performance but also acts as a catalyst for developing human capital and strengthening the local economy. [ABSTRACT FROM AUTHOR]

The paper examines the nexus between working capital management (WCM) and financial performance of listed non-financial firms in Ghana. An unbalanced panel data for the period 2008 to 2021 was used for the study. It is observed that the residual terms of the models were cross-sectionally independent and all the series were first-differenced stationary and cointegrated in the long term The elasticities of the predictors were explored via the Fully Modified Ordinary Least Squares (FMOLS) and the Dynamic Ordinary Least Squares (DOLS) techniques. The findings of the study indicate that WCM proxied by accounts receivable period (ACP), accounts payment period (APP), and inventory turnover period (ITP) have significant positive effect on firms' financial performance measured by return on assets (ROA), return on equity (ROE), and return on capital employed (ROCE). This suggests that the working capital management practices of non-financial firms in Ghana improve their financial performance. Also, firm size and asset growth improve firm financial performance. On the causalities between the variables, bidirectional causalities between ACP, APP, ITP, size, and thecompanies' ROA, ROE, and ROCE are disclosed. Finally, causality from growth to the ROA, ROE, and ROCE of the firms are unraveled. It is recommended that policy makers of non-financial firms in Ghana should not overlook WCM practices in their financial decisions, since ignoring them could seriously compromise the firms' short- and long-term sustainability. [ABSTRACT FROM AUTHOR]

Financial literacy is the ability of people to process economic information to make better financial decisions. Therefore, the financial literacy of entrepreneurs could affect the management of their companies and their results. The aim of this research is to determine if there is a significant relationship between companies' performance and financial knowledge, financial behavior, and financial attitude of micro, small, and medium-sized entrepreneurs. The incidence of the variables age, size, and sector of the companies, as well as the entrepreneur's age, gender, and educational level on companies' performance, is also analyzed. Data from 206 entrepreneurs from Veracruz, Mexico, were analyzed using a logistic regression model. The results show that the financial behavior of the entrepreneurs has a positive and highly significant effect on companies' performance, although the entrepreneur´s knowledge and attitude don´t have a significant relationship with companies´ performance. The results also show that companies in the industrial sector led by men are less likely to obtain high performance compared to those in the commerce sector. No incidence was found of the variables age, size of the company, and entrepreneur´s educational level on the performance of their companies. [ABSTRACT FROM AUTHOR]

Research work on the relationship between Corporate Social Responsibility and financial performance has been going on for seven decades. Even when the prevailing studies are those that found a positive influence of social responsibility on financial performance, strong conclusive results are still unavailable. Some explanations for this situation are based, among other reasons, on the fact that the variables have a relation mediated by multiple factors. Additionally, it is still unknown whether the results obtained can be extrapolated to all types of companies since the majority of studies have focused on large companies listed on the stock exchange. This research studied how one of those factors (stakeholder satisfaction) mediated in companies of different sizes (including SMEs) and different types of companies (publicly listed companies or private ownership companies). A questionnaire was used, including indices relative to (1) the degree of development of the company's social responsibility policies, (2) the changes in the satisfaction of four key stakeholders (employees, customers, suppliers, and shareholders) and financial performance (sales and profitability). Findings show the existence of a correlation between social responsibility and financial performance and also that such a relationship is mediated by the satisfaction of stakeholders. That relationship was also found to be independent of company sizes and the type of company This research work is intended to be a contribution towards that field of study, as it has detected a relationship between variables in medium-sized and private ownership companies. [ABSTRACT FROM AUTHOR]

The article explores the implementation of digital technology in small and medium-sized Slovenian enterprises (SMEs), with a focus on understanding existing trends, obstacles, and necessary support measures during their digitalization progress. The surveyed companies mainly rely on conventional technologies like websites and teamwork platforms, emphasizing the significance of strong online communication and presence in the modern business world. The adoption of advanced technologies such as blockchain is limited due to the perceived complexity and relevance to specific sectors. This study uses variance analysis to identify potential differences in the digitalization challenges faced by companies of different sizes. The results indicate that small companies face different financial constraints and require more differentiated support mechanisms than their larger counterparts, with a particular focus on improving digital competencies among employees. Despite obtaining enhancements such as elevated operational standards and uninterrupted telecommuting via digitalization, companies still face challenges of differentiation and organizational culture change. The study emphasizes the importance of recognizing and addressing the different challenges and support needs of different-sized companies to promote comprehensive progress in digital transformation. Our findings provide important insights for policymakers, industry stakeholders, and SMEs to formulate comprehensive strategies and policies that effectively address the diverse needs and challenges of the digital transformation landscape. [ABSTRACT FROM AUTHOR]

The present paper aims to empirically examine the effect of promoters' holdings and institutional holdings on dividend payout ratio and the firm value. Most importantly, this paper explores the age and size of the firm as the moderators in the relationships. Data collected from 23 companies from India and 253 data points were analyzed to test the hypothesized relationships. The results indicate that promoters' holdings and institutional holdings are positively associated with dividend payout ratio and firm value. Further, moderator hypotheses suggest that (i) firm age moderates the relationship between promoters' holdings and dividend payout ratio, (ii) firm size moderates the relationship between institutional holdings and dividend payout ratio, (iii) firm age moderates the relationship between promoters' holdings and firm value, and (iv) firm size moderates the relationship between institutional holdings and firm value. The implications for theory and practice are discussed. The conceptual model developed and tested in this research contributes to both the literature on dividend payout ratio and firm value and to the needs of institutional investors interested in increasing the firm value. [ABSTRACT FROM AUTHOR]

Several empirical studies indicate that the lack of financing is one of the main barriers that affects the economic growth of small and medium enterprises (SMEs). The main objective of this investigation was to determine to what extent the economic sector, the enterprise size, the characteristics inherent to the enterprise, the legal status, the variables linked to the performance of the enterprise, and the attributes of the owner influence the access to the bank financing of SMEs in Mexico. Using a discrete-response probit regression model, the impact of enterprise characteristics on the probability of obtaining a bank loan was determined. The data collected are from the Enterprise Surveys of Mexico, carried out by the World Bank. The sample of 1480 enterprises is representative by enterprise size, by economic sector, and by region. The research has a quantitative approach with a correlational scope, and a nonexperimental and transectional design. One of the main results highlights that the determinants with the greatest influence on access to bank financing are: the age, the small size, foreign participation, and the manufacturing sector. These results are consistent with other empirical studies, as well as with the pecking-order theory and the financial life-cycle theory. [ABSTRACT FROM AUTHOR]

The purpose of this study was to examine the determinants of cash distribution options by critically considering the effects of earnings, dividends, firm size, and economic value added. The distribution of cash dividends to shareholders serves as a basic means by which shareholders receive returns on their investments, so it is essential to examine share repurchases alongside dividends to enhance management's efforts in maximising shareholder value. This study utilised panel data from 52 companies listed on the Johannesburg Security Exchange (JSE) that engaged in open market share repurchases for at least 2 years between 2000 and 2019. The data were extracted from the IRESS database. The panel data regression model was fitted with the ordinary least squares (OLS), difference generalised moment method (Diff-GMM), system generalised moment method (Sys-GMM), and least-squares dummy variable correction estimator (LSDVC). The findings revealed that there was a positive and significant relationship between the earnings per share and the payoff flexibility, implying that there was an inherent flexibility of repurchases as a payout option in the sampled firms. Additionally, the study revealed a significant negative relationship between the firm size, economic value added, and payoff flexibility. This suggests that larger companies tend to distribute a lower proportion of their earnings as share repurchases and opt for higher cash dividends instead. The implications of these findings provide financial managers with valuable insights into the role of share repurchases as a cash distribution choice. By recognising share repurchases as a viable option, financial managers can enhance their efforts to create and maximise shareholder value, particularly in emerging market settings. This evidence should encourage financial managers to recognise share repurchases more as a distribution choice, diffusing the tension regarding share repurchases replacing the payment of cash dividends and some doubt that they may not possess attributes complimentary to cash dividends. The study recommended relevant academic, industry, and policy implications in the South African context. [ABSTRACT FROM AUTHOR]

There is a considerable debate in the literature regarding the real impact of tourism on the environment and human communities, specifically with respect to tourism's openness to sustainable innovation. The way in which the different forms of tourism and entrepreneurial and managerial initiatives respond to the new economic, technological, social and environmental challenges acquire considerable importance for academics, practitioners, decision makers and consumers. The purpose of this research is to assess the potential for sustainable innovation in spa and health tourism in a relevant area in Romania through a survey-based study of both entrepreneurs who own a tourist accommodation unit, as well as top and middle managers from large tourism enterprises. The results of our research show that the development of spa and health tourism offers multiple examples of good practices, and that stimulating innovative entrepreneurial initiatives can lead to a sustainable reinvention of the tourism and local economy, in line with the international health tourism market. In the case of small businesses, even though sustainable initiatives are present, they are at an earlier stage and are less diversified compared to hotels, the scope of innovation is smaller and their motivation weaker. In other words, a large part of the objectives of modernization and sustainability in spa and health tourism (equipment, services, qualification and hiring of employees, sustainable and environmentally friendly orientation) are the responsibility of large hotel resorts. This research provides valuable insights into the ongoing debate surrounding the impact of tourism on the environment and local communities, with a specific focus on the potential for sustainable innovation in spa and health tourism within a significant region of Romania. [ABSTRACT FROM AUTHOR]

Near-miss events are usually identified as adverse events that could have turned into incidents/injuries but, due to an intervention of a safety system or by chance, developed into harmless situations instead. Past and present studies have also outlined the importance of collecting and analyzing near-miss events, as they have same causes of more serious events, thereby allowing for more effective preventative measures at the workplace. Although their importance has been outlined for several years, standard models for designing near-miss management systems (NMMSs) are still lacking and cannot yet support companies in their full-scale application. Despite this condition, NMMSs are applied in several industrial sectors, such as in the construction, mining, chemical, and nuclear industries. The aim of this study is to analyze how companies are developing their own NMMSs. An exploratory analysis was developed through survey analysis; it was provided to a sample of Italian companies in order to evaluate the adoption level of NMMSs as well as current practices applied by companies. The sample included companies of different sizes in the industrial sector. The results extracted from the field analysis outline interesting issues that point out current procedures adopted for the identification, collection, and analysis of near-miss events as well as real benefits and criticalities related to the application of NMMSs. [ABSTRACT FROM AUTHOR]

The process safety management (PSM) system was introduced in South Korea in 1996, wherein a company voluntarily organizes and manages a chemical accident prevention system, which contributes to reducing chemical accidents. However, large- and small-scale chemical accidents occur frequently. This trend necessitates analysis and improvement of the PSM systems. This study aimed to analyze the correlation between major industrial accidents, their main causes, the status of accidents by company size and industry, and the PSM evaluation grade through an analysis of 130 accidents that occurred in the past 17 years (2005–2021). The results showed that small- and medium-sized enterprises (SMEs) with fewer than 100 employees accounted for 36% of all accidents, indicating a higher occurrence rate than large companies. Additionally, the proportion of companies with inadequate PSM levels, rated as M-grade (M+, and M−), were 67.0%, suggesting a high probability of major industrial accidents. The results of this study show that a company's voluntary safety management can be induced by an improved PSM system and management plan, which is expected to prevent major industrial accidents. [ABSTRACT FROM AUTHOR]

The main aim of the paper is to examine the interdependence of corporate financing structure on selected determinants in the energy and mining sectors of the economy. In addition, a comparison of the results between these economic sectors is made. In order to increase the representativeness of the sample, countries from both the "old" European Union (Germany, France, Great Britain, Spain, Italy, and Sweden) and newly admitted countries (Poland, the Czech Republic, Hungary, Romania, Slovakia, and Bulgaria) were included in the study. The research used data from the Orbis database for 2012–2020. A one-factor linear panel model was used to verify the hypotheses. The research partly confirmed the hypotheses. A negative relationship between the financing structure and profitability in both analysed sections was clearly established. The second determinant whose influence on the financing structure in both sections was found to be unambiguous was the ratio of current liabilities to current assets. However, this influence was positive. Another determinant whose influence on the financing structure was confirmed to be unequivocal and positive in nature was the size of the company. This occurred only in the energy sector. The research revealed that other determinants, such as asset structure, interest, and noninterest tax shields, also affect the financing structure of companies, but the statistical significance of these relationships is ambiguous. [ABSTRACT FROM AUTHOR]

This research paper describes the accounting practices of Jordanian companies engaged in agricultural activities, and identifies the influence of company characteristics on measurement practices related to asset pricing and level of disclosure required by IAS 41. Company characteristics were considered as: size, intensity of biological assets (BA), level of international activities, and audit for the Big Four. Dependent variables were considered measurement practices related to valuing BA as well as resultant harvest and disclosure level, the latter being measured by mandatory and voluntary disclosures. The entire population of companies that include one or more agricultural activities in their purposes and are considered reporting companies formed the research sample, giving a total of 259 companies. The findings revealed that both intensity of BA and level of international activities have a positive impact on measurement practices. Audit for the Big Four was the strongest variable influence, the overall disclosure level prescribed by IAS 41, followed by the level of international activities variable. However, the intensity of the BA variable affects only the overall disclosure level for companies that measure their BA based on the cost method. Firm size was found to have no influence on either measurement practices or disclosure level. The key value of this paper is its examination of the role of company characteristics on measurement practices and level of disclosure required by IAS 41 in the context of Jordanian companies. Through this examination, this study is helpful to standards setters and regulators who obligate and issue the financial regulation and reporting standards at a national or international level, supporting their understanding of measurement and disclosure practices adopted in agricultural companies in the developing country context of Jordan. [ABSTRACT FROM AUTHOR]

The capital structure and its indicators play a significant role in corporate finance. The aim is to estimate business performance using selected indicators describing primarily the capital structure, asset structure, or liquidity of transport companies in Central Europe. The total sample consists of almost 4000 small and medium-sized enterprises in the transport sector. This data is collected from Amadeus Bureau van Dijk. The results show that six out of ten variables are statistically significant predictors affecting business performance; two out of the six indicators are categorical variables, such as the company size classified into small and medium enterprises and the country divided into the Czech Republic, Hungary, Poland, or Slovakia. We find that Hungarian medium-sized enterprises show higher profitability than other enterprises, assuming other factors are unchanged. Finally, the results demonstrate that a high debt ratio and a high share of non-current assets in total assets have a negative impact on corporate performance in contrast to the current ratio and the share of cash and cash equivalents in total assets. In other words, liquidity and cash and its equivalents have a significant role in increasing business performance. These findings are specific because, generally, high liquidity does not positively impact performance. [ABSTRACT FROM AUTHOR]

E-commerce platforms enable companies of all sizes to sell their items and promote their brand to a broader audience. The e-commerce sector is continually developing, as new technology and methods of purchasing and selling services and items are developed. The traditional e-commerce system is plagued with problems, such as payment disputes, chargebacks, fraud, and a lack of transparency; however, blockchain can transform e-commerce by making transactions more efficient and safer. Blockchain can be used to build a decentralized network that allows people to securely store and share digital assets. This would enable buyers to access product details such as the product's origin and source, as well as reduce the risk of fraud. Although the application of blockchain in e-commerce remains in its early stages, this review paper examines research on blockchain-based e-commerce, focusing on applicability and problems in the context of the available literature from 2017 through 2022. [ABSTRACT FROM AUTHOR]

This study examines the extent to which electricity shortage influences technical efficiency using data of 805 listed manufacturing companies in China from 2009 to 2020 collected from the CSMAR database. To achieve the objectives of this paper, first, a stochastic frontier analysis (SFA) is used to estimate the technical efficiency (TE) score of manufacturing companies. Subsequently, the TE score is used to evaluate the electricity shortage index and other factors that are postulated to affect enterprise productivity. Two estimation methods have been adopted including ordinary least squares (OLS), which is less robust to endogeneity and instrumental variable (IV) estimation, which turns out to be more robust to endogeneity in the data. The empirical results show that, under OLS estimation, electricity shortage has a significantly negative impact on the technical efficiency of the listed manufacturing companies. However, when IV regression is implemented to address endogeneity issues in the data, electricity shortages tend to have a significantly positive impact on the technical efficiency, underscoring the importance of capturing endogeneity in the data. Extending the baseline results, this study also finds that, while the size of an enterprise may have no bearing, state-owned companies are more likely to be negatively affected by electricity shortages compared to privately owned companies. These results have significant implications for industrial policy design in China in particular, and developing countries in general. Most importantly, the results of this study underscore the importance of policies and measures to promote a shift in the ownership structure towards the private sector. [ABSTRACT FROM AUTHOR]

Businesses should come up with a strategy, plans, and goals so that their total assets can make a profit during the transformation process. Utilizing various features of a property can generate this income. This comparison provides evidence of profitability. During the global economic downturn, a number of businesses encountered issues that caused their payment situations and profitability to deteriorate. The goal of this article is to ascertain whether particular profitability indicators also revealed the pandemic-related global crisis, particularly in the Visegrad Group countries. This analysis was conducted based on categories of business size. Specifically, 8671 enterprises were analyzed. The evaluation of indicators revealed whether there was a significant change in a negative direction, a significant change in a positive direction, or no significant change. It was possible to make a clear diagram of the companies that took part in the study and to figure out the median values in order to compare the results of the chosen profitability indicators. Correspondence analysis was conducted so that conclusions could be more accurate. According to the findings of this study, indicators of ROA, ROE, and ROS did not change significantly across enterprise size categories in the years preceding, during, and after the pandemic. Since the government regulations of the V4 countries had a significant impact on these businesses, the change was most obvious in the case of small businesses within the ROS indicator. The added value of the article is derived from its analysis of selected profitability indicators in the largest group of Central European nations and its relevance. [ABSTRACT FROM AUTHOR]

The purpose of this paper was to investigate the impact of allocating shares to the indigenous (Bumiputera) investors on the oversubscription ratio of IPO. This factor is unique to Malaysian IPOs and would enable us to reflect the signaling theory. Data on 348 IPO firms listed on Bursa Malaysia over a span of 17 years from 2002 to 2018 were examined using a cross-sectional regression analysis. The findings demonstrated no significant impact arising from the fractions of shares allocated to Bumiputera investors on the oversubscription ratios, except that the revised guidelines on the Bumiputera equity requirement had a significant negative influence on oversubscription. Further tests showed that the influence of such share allocation on oversubscription was moderated by firm size, which was proxied by market capitalization. The findings lend support to the signaling theory, indicating that the demand for IPOs will be slightly higher for larger firms listed in bigger markets. [ABSTRACT FROM AUTHOR]

This research addresses the factors that impact the acceptance of AI-based technologies or products depending upon firm size in the construction industry, in which various corporates exist. In order to achieve the research goals, a technology acceptance model was applied to investigate the influencing factors in respect to adopting AI-based technologies or products. From the research results, technological and organizational factors were found to positively influence perceived usefulness and perceived ease of use. Corporate users perceived that technology is useful to their work and is easy to use when enough capital and education were invested prior to the company adopting AI-based technologies or products. It was found that perceived ease of use and perceived usefulness indicate satisfaction with new technology, and the higher the intention to use, the higher the satisfaction. In addition, as various information sharing and distribution channels increase, the frequency of use of new technologies or products also increases, not through traditional marketing, but through viral marketing via social media or promotion by influential persons or organizations. Furthermore, there are differences in the adoption of AI-based technologies or products depending on the size of the company. [ABSTRACT FROM AUTHOR]

Over the past two decades, the relative socio-economic importance of land-based sectors has declined in comparison to non-land-based businesses such as tourism, food and beverage activities. However, policy implementation and research have primarily focused on the economic contributions of land-based businesses, leaving businesses outside these sectors and in rural areas, referred to as non-land-based businesses, largely overlooked. Therefore, this study aims to examine the importance of non-land-based businesses and the key determinants of the relationships between non-land-based businesses and land-based (farming, forestry and landed estate) sectors in rural Scotland. Through a survey of 1500 businesses whose primary focus is not agriculture, forestry or landed rural estates in four Scottish regions, the key findings of the logit model reveal that businesses located in rural areas are more likely to have relationships, both direct (supplying or purchasing goods/services) and indirect, with farming, forestry and landed estate sectors than their urban counterparts. Focusing on rural businesses, the results show that business size, sectors, business age, exporting, importing and business constraints related to cash flow, digital connectivity and government financial support significantly influence their relationships with land-based sectors. The results of crosstab analysis also reveal differences in business performance, business challenges related to Brexit and future plans between non-land-based rural businesses having relationships with land-based sectors in different rural classifications: accessible/remote small towns, accessible rural areas and remote rural areas. The paper concludes with policy recommendations to support rural businesses and future land-based and non-land-based sectors in rural Scotland. [ABSTRACT FROM AUTHOR]

Previous studies have demonstrated that grain loss in the harvest process accounts for a large loss in all aspects of the grain supply chain. This research extensively discusses the impact of farmland management scale on grain loss in the harvest process based on survey data on farmers' productivity in the Shandong and Hebei provinces of China. The findings revealed that the scale of farmland operation directly influenced the grain loss during harvest and that this effect is greatly reduced as the farmland operation scale increases. This study also constructed an intermediary model, investigated the influence mechanisms, and added agricultural capital as a variable in the harvest link. It was discovered that the scale of agricultural land management has an indirect effect on grain loss in the harvest link via the input of agricultural capital in the harvest link. The increase in agricultural capital investment in the harvest link considerably reduced this effect. In order to decrease grain losses during the harvest process, this paper suggests expanding the size of agricultural enterprises, developing new agricultural corporate organizations, and further playing the role of the rural land market. [ABSTRACT FROM AUTHOR]

The purpose of this study is to empirically examine the influence of firm characteristics (size, age, industry type, and ownership) on a firm's strategic orientation. The business environment, namely market uncertainty and competition intensity, is also analysed in association with the firm's strategic orientation. Furthermore, the implication of strategic orientation for performance is tested. The study used 1024 data sets of 128 manufacturing firms listed on the Indonesia stock exchange from 2014 to 2021. Data panel regression and independent t-tests were employed for statistical analysis. Adopting Miles and Snow's strategy typology framework, the findings indicated that the firm size, industry type, and competition intensity significantly influence the firm's strategic orientation. Small firms preferred to adopt a proactive strategic orientation (prospector and analyser). Firms in the fast-moving consumer goods (FMCG) industry tended to adopt a proactive strategic orientation (prospector and analyser). Strategic orientation was found to positively and significantly influence firm performance. Firms that adopt a proactive strategic orientation (analyser and prospector) showed better performance than defensive ones (reactor and defender). [ABSTRACT FROM AUTHOR]

Programmable logic controllers (PLCs) are everywhere today and perform critical tasks in industries. They are considered as a key component for the Industry 4.0. Before they are put into operation, it is necessary to check the accuracy of the PLC programs. This verification operation can be performed using model checkers. This stage is often long and costly and requires a domain expert who can understand the system, as well as the different model checker tools able to verify the code implemented in the controller. Furthermore, this verification often requires a conversion of the PLC code into a language understood by a model checker which can influence the behavior of the observed PLC. Hence, there is a need to propose methods and tools which could be used by technicians and engineers. The aim of this paper is to propose methods that require little work to set up and are robust to program sizes used in Industry 4.0. This paper explores some fresh ideas for human-adapted PLC code verification. We present different methods to test codes in structured text (ST) compliant with the IEC 61131-3 standard. Hence, the first idea is to test the ST code that will be directly implemented on a controller. For that, we propose a method using the model checker UPPAAL which allows us to obtain exact results on short codes. Second, we propose verifying the generic properties that a PLC program must avoid: deadlocks, non-accessible states and fugitive states or actions. To solve combinatory explosion problems encountered with the UPPAAL software, the third proposition consists of using relational databases. The same verification as previously followed can be obtained, but the search time is longer. The fourth and last proposal is to process the ST code with a neural network composed of long short-term memory layers (LSTM) to quickly determine the validity of the code. This method could give an approximation of code errors in a few seconds. The different proposed methods are supported with several examples. [ABSTRACT FROM AUTHOR]

This study attempts to reveal the consequences of coronavirus disease 2019 (COVID-19) on micro, small, and medium enterprises (MSMEs) in Chiang Mai, Thailand. A total of 786 MSMEs were surveyed during May and August 2022, corresponding to the period when the recovery of businesses and livelihoods from the ongoing COVID-19 crisis became more perceptible. The perceptions of COVID-19's impact on MSMEs and their survivability are explored and investigated. To achieve this goal, a copula-based sample selection survival model is introduced. This idea of the model is extended from the concept of the Cox proportional hazards model and copula-based sample selection model, enabling us to construct simultaneous equations—namely, the probability-of-failure equation (selection equation) and the duration-of-survival equation (time-to-event or outcome equation). Several copula functions with different dependence patterns are considered to join the failure equation and the duration-of-survival equation. By comparing the Akaike and Bayesian information criteria values of the candidate copulas, we find that Farlie–Gumbel–Morgenstern (FGM) copula performs the best-fit joint function in our analysis. Empirically, the results from this best-fit model reveal that the survival probability of MSMEs in the next year is around 80%. However, some MSMEs may not survive more than three months after the interview. Finally, our results also reveal that the tourism MSMEs have a lower chance of survival than the commercial and manufacturing MSMEs. Notably, the business size and the support schemes from the government—such as the debt restructuring process, the tax payment deadline extension, and the reduced social security contributions—exhibited a role in lengthening the survival duration of the non-surviving MSMEs. [ABSTRACT FROM AUTHOR]

Understanding human behavior in the decision-making process represents a challenge for researchers in the socio-economic field. The complexity comes from multiple criteria acting simultaneously. Hiring decisions are made on a set of criteria representing the attributes of the applicants. This study's main objective is to investigate Romanian employers' behavior when recruiting for jobs targeting graduates from economic studies. The method used to identify the weights employers assign to different skills was based on an experimental technique-choice based conjoint. A survey experiment was conducted to produce causal conclusions about the recruiting process. The estimation was performed with a methodology based on machine learning, which allows to investigate interactions between subjects' characteristics and conjoint criteria. The findings of our experiment align with other studies pointing to the increased relevance of non-cognitive skills for employability. Additionally, our results show that criteria weights in hiring decisions depend on company size, ownership, activity sector or personal characteristics of the recruiter. Our research provides a mechanism for understanding employers' perspectives. This is valuable for informing job seekers to adjust their job search strategies and to invest in the skills offering hiring opportunities. Moreover, universities can use the results to adapt their educational programs to labor market needs. [ABSTRACT FROM AUTHOR]

The article is devoted to the method of determining the risk surcharge in rental rates for special technological equipment. The relevance and features of the task, as well as existing approaches to solve it in other subject areas, are described. The risk of landlords is highlighted as "the inability to fully ensure the receipt of a stable income recorded in the lease agreement". The three most significant risk-forming factors are highlighted: the early return of equipment, the emergence of debt on payments from the tenant, and the breakdown of equipment due to the fault of the tenant. A fuzzy model for estimating the likelihood of the manifestation of risk-forming factors is proposed depending on the following challenges of the rental pillar: the size of the enterprise, financial stability, the age of the enterprise, the number of current trials, and the reputation of the enterprise. Describes: universal linguistics for input and output values characterizing risky components, logical output rules, and the assessment of the likelihood of risk in general. Based on the SciKit-Fuzzy library for the Python language, the model studies all available values of input variables, and tenants are presented separately on the boundary values of the enterprise parameters. A methodology for determining the rental rate, taking into account the risk surcharge, is proposed. [ABSTRACT FROM AUTHOR]

This paper examines a homogeneous-good Bertrand–Edgeworth oligopoly model to explore the role of firm size and number in pricing. We consider the price impact of merger, break up, investment, divestment, entry and exit. A merger leads to higher prices only when it increases the size of the largest seller and industry capacity is neither too big nor too small post-merger. Similarly, breaking up a firm only leads to lower prices when it concerns the biggest producer and aggregate capacity is within an intermediate range. Investment and entry (weakly) reduce prices, whereas divestment and exit yield (weakly) higher prices. Taken together, these findings suggest that size matters more than number in the determination of oligopoly prices. [ABSTRACT FROM AUTHOR]

The recommendations of the Task Force on Climate Change Disclosure (TCFD) represent fundamental guidelines for managing climate-change-related risks. Indeed, the TCFD outlines good practices for integrated risk management as well as aims to protect investors and stakeholders through a more transparent and complete disclosure on the subject. However, the adoption of the recommendations was slow and differentiated between countries. The study aims to analyze the determinants that have influenced the voluntary choice of companies to adopt the TCFD recommendations. Using a logistic regression on a sample of Italian public interest entities, the results show that the size of the board, the integration of ESG risks, and the size of the company are variables that influenced the managers' decision to adopt the guidelines. [ABSTRACT FROM AUTHOR]

This article aims to determine the disparities between SMEs in management and risk management depending on the type of management, age, and size of SMEs in the business environment of Slovakia. The case study was conducted in 2019/2020 on a sample of 362 owners and top managers of SMEs. The hypotheses were verified using statistical methods—the Pearson chi-squared test and the Z-test. The results show that SMEs are more involved in risk management than microenterprises. Process-driven SMEs largely perceive market risk. Medium-sized enterprises perceive personnel risk more intensely than microenterprises and small enterprises. Not even one out of every five owners or top managers can manage risks, and more than 15% of SMEs do not conduct any risk management activities. Financial reserves and insurance are the most used risk reduction measures in SMEs. The purpose of the survey is to strengthen the resilience of SMEs and to find out the causes of the weakening of resilience concerning the investigated risk factors. The creation of integrated management systems presupposes the inclusion of the risk management system among other management systems. By implementing risk management, it is possible to increase the efficiency of management systems. [ABSTRACT FROM AUTHOR]

This paper investigates the nonlinear relationship between capital structure and firm performance in the MENA region using a sample of 499 listed firms over the 2007–2020 period, or 6986 firm-year observations. Specifically, we examine the size-threshold effect in the capital structure–firm performance nexus. To do so, this study applies a dynamic panel threshold regression model (DPTR). The findings show that there is a nonlinear relationship between debt and firm performance (Tobin's Q, ROA, and ROE). Specifically, the threshold values of firm size for the three models are estimated at 9.126 (about $1 million), 15.48 (about $5 million), and 16.816 (about $20 million), respectively, between the low- and the high-sized regimes. In the lower regime, the firm's value (Q) increases when debt increases; however, in the higher regime, this value decreases when debt increases. Furthermore, in the lower regime, the performances (ROA and ROE) of small firms decrease when debt increases; however, in the upper regime, when debt increases, the performances of large firms increase. The results are several robustness tests. These results support the predictions of signal, pecking order, and trade-off theories. Managers of large (small) MENA firms should increase (decrease) the use of debt to improve performance. [ABSTRACT FROM AUTHOR]

The actual problem of enterprise revenue management that requires an effective solution is considered. Revenue is the main source of cash proceeds specifically from the main enterprise activities, as well as one of the main factors affecting enterprise functioning. As a result, the amount of revenue is extremely important for the company—it must be sufficient to ensure the repayment of all expenses of the company and the formation of the required profit amount. However, the amount of revenue itself is not the only important characteristic of revenue; the revenue stability over time and the revenue receipt regularity are no less important. The purpose of this work is to develop a dynamic model of enterprise revenue management, which differs from the model known in the literature by considering the parameter of enterprise performance efficiency. The parametric method of Stochastic Frontier Analysis (SFA) is used as a method to evaluate the efficiency of an enterprise. Financial indicators are used as input and output data. The model was tested on six small business sectors of a single-industry town for the period from 2007 to 2021. Data collection was carried out using the SPARK system, which allows selecting enterprises for research by the status of the enterprise (bankrupt/operating), by the size of the enterprise (large/medium/small/micro), etc. The above calculations based on the constructed modified model have demonstrated the possibility of using the enterprise's revenue management with the desired rate of change and with the work efficiency parameter. [ABSTRACT FROM AUTHOR]

The current study investigates and establishes the factors that lead to short-term orientation strategies in western organisations. Moreover, this study used questionnaire-based surveys to assess the relationship between these factors and what it would take for the organisation to move to a long-term orientation strategy. At the start of the study, it was evident that the annual bonus system is a key reason for prioritising a short-term orientation strategy. The sample was composed of 300 companies of different sizes from different western countries. Furthermore, the general consensus within these companies was that most managers knew that long-term orientation was necessary; however, either their superiors/shareholders/supervisory board only reward short-term results, or the managers and stakeholders prefer short-term goals for evaluations because it is challenging to transform a long-term strategy into multiple short-term strategies and goals. At the end of the study, a basic framework has been suggested to be used as guidelines for any company moving from short-term to long-term orientation strategies. [ABSTRACT FROM AUTHOR]

This study aims to examine the role of green governance in the quality of sustainability reports. We also examine the moderating role of sustainability commitment between green governance and the quality of sustainability reports. This research is a quantitative study by using unbalanced data panels. The study retrieves the samples from the companies listed on the ASEAN Stock Exchange that published sustainability reports from 2015 to 2019. The research finding shows that the board's independence, board diversity, and sustainability commitment are significantly associated with the quality sustainability reports. Moreover, the board size indicates a low effect on the reliability and the chief sustainability officer on the conciseness of sustainability reports. Meanwhile, it has not been possible to prove that the presence of sustainability committee can lead effect on the report quality. The sustainability commitment also moderates female directors and the quality of sustainability reports. Other findings are obtained from the company's characteristics where company size and type of industry are positively correlated with the quality of sustainability reports. This study has several limitations. First, some companies that are under observation spend money on social costs, but the amounts are not clearly disclosed. Second, this research only focuses on three quality aspects: conciseness, clarity, and reliability. These research findings contribute to the following scopes. First, how green governance and commitment to sustainability help improve the quality of corporate reporting. Second, the investors should invest in companies that apply good green governance and sustainability commitment. Third, companies with strong commitments to sustainability and good corporate governance are competitive resources that support businesses in growing, attracting more investment, and earning stakeholders' trust. Lastly, this research also contributes to the agency and the resource-based view theories related to the green governance and the sustainability reports' quality of ASEAN countries. [ABSTRACT FROM AUTHOR]

A nationwide survey of 162,738 firms in Vietnam asked firms to report the impact of the COVID-19 pandemic on the health of the business, coping strategies used, and various firm and situational characteristics. More than 80% of firms reported negative impacts from the pandemic with fewer than 4% reporting positive effects; 63% of the firms adopted at least one coping strategy. The coping strategies were categorized into seven groups as follows: (1) Non-adoption, (2) promoting e-commerce, (3) transforming key products/services, (4) training employees to improve professional qualifications, (5) finding new markets for input materials, (6) finding markets for products outside of the traditional market, (7) producing new products/services according to market demand during the epidemic period, and (8) other strategies. A multinomial logit regression model showed statistically significant associations between a firm's selected coping strategy and several independent variables, as follows: (1) Firm size, (2) impact of the pandemic on firm health, firm access to inputs, and firm access to domestic markets, (3) decrease in firm revenue, and (4) receipt of government support. However, many businesses have not implemented coping strategies, leading to concerns regarding their resilience to upcoming threats and uncertainties. [ABSTRACT FROM AUTHOR]

The IT infrastructure is the basis for the efficient and effective flow of logistic information between the individual elements of the logistical system. Therefore, the aim of this research was to assess the diversification of equipment in IT infrastructure in enterprises in Central Pomerania in Poland. The research was conducted in 2021 using the CAWI method. The research covers five categories of IT infrastructure: IT equipment, software/applications, means of communication, devices cooperating in the smart internet network and other devices. The study was conducted on a sample of 353 enterprises located in the area of Central Pomerania. The results of the conducted research indicate that the degree of use of the IT infrastructure in the analyzed enterprises varies. Taking into account the size of the enterprise, IT infrastructure is much more often used by large and medium enterprises than by small and micro enterprises. In addition, the results also show the diversification of the use of IT infrastructure depending on the business profile of the enterprise. Among the various sections of activity, IT infrastructure is most often used by enterprises from Section C (industrial processing) and from Section H (transport and warehouse management). [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic had an enormous impact on the tourism sector. Economies with a large weight of external tourism were especially affected, as was the case with the Azores region. This paper aims to analyse the level of this crisis and the resilience of tourism recreation companies specializing in canyoning in the Azores region, and whether these reactions led to more sustainable business models. The adopted methodology considered the analysis of recent statistical data on tourism and the available information on COVID-19 pandemic-related impacts. In parallel, questionnaires were applied to all tourism recreation companies in Portugal, and semi-structured interviews were conducted with all the canyoning providers in the Azores region. Results show that all companies survived the crisis, and some have made significant changes to their business models. Furthermore, some degree of success was observed in how services adapted to new demand characteristics, given the small size of most of these businesses and the specialization of their products. [ABSTRACT FROM AUTHOR]