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Adaptive selling is widely deemed as an important characteristic leading to success in personal selling. This research focuses on the way that both learning goal orientation and proving goal orientation influence a salesperson's adaptive selling through their influence on salesperson perceived obsolescence. A sample of insurance salespeople provide data and structural equation modeling tests a theoretical model linking goal orientation to adaptive selling. The results demonstrate that a strong learning goal orientation promotes adaptive selling. In contrast, a salesperson's degree of proving goal orientation relates negatively to adaptive selling. In addition, a learning goal orientation reduces perceived obsolescence, whereas a proving goal orientation promotes perceived obsolescence. Perceived obsolescence detrimentally affects adaptive selling, however, direct effects of goal orientation persist even given the significant role of obsolescence. [ABSTRACT FROM AUTHOR]

This paper aims to assess the effectiveness of the so-called ‘Eco-Management and Audit Scheme (EMAS) cluster approach’ when applied to environmental policies, by focusing on the case history of the industrial paper production cluster located in the Province of Lucca (Italy). The Lucca cluster represents approximately 20% of Italian paper production, and Italy is the fourth leading paper producer in Europe. In the last 10 years, environmental policies have been developed under the common ‘umbrella’ of a strong public and private partnership based on stakeholder networking within the application of the EU EMAS Regulation. This article evaluates the outcome of such an approach, by comparing the environmental performance indicators for the Lucca’s paper industry using data collected from more than 40 plants before and after the adoption of this voluntary tool. The results show considerable improvements for many environmental performance indicators, consistently with the implementation of the cluster approach. [ABSTRACT FROM PUBLISHER]

Considering that the manufacturer produces normal products (NPs) and low-carbon remanufactured products (LCRPs), this paper studied the production decisions under capital constraints and the Carbon Emission Permits Repurchase Strategy (CEPRS). The direct selling model and supply chain model are constructed respectively and optimal decisions are given. On this basis, the influences of CEPRS on optimal decisions and corporate performance are analyzed. This study shows that for the capital-constrained manufacturer, adopting the CEPRS is conducive to promoting the production of LCRPs. In the direct selling model, a higher end-of-period carbon price is not always beneficial for the environment. In the supply chain model, as the end-of-period carbon price increases, the low-cap manufacturer tends to lower the wholesale price of LCRPs, while the high-cap manufacturer tends to increase the wholesale price of NPs. A lower carbon cap is more effective in controlling carbon emissions, while a higher carbon cap generates a higher profit. Moreover, the manufacturer's preference for operation mode is affected by the carbon cap. Specifically, the low-cap manufacturer prefers the direct selling model, while the high-cap manufacturer prefers the supply chain model. [ABSTRACT FROM AUTHOR]

One of the major aims of digital city development is to improve the cities' natural and social environment friendliness, which aligns with the target of the ESG strategy. However, it is still unclear how to measure the impact of digital city development on ESG performance. This paper examines how digital city policies affect the ESG performance of firms. We propose a methodology to quantify digital city policies based on the textual analysis (BOW method) and measure the level of digital city policy support in each prefecture-level city in China from 2011 to 2022. Further, we introduce instrumental variables (IV), PSM, and other methods to empirically investigate the impact effects and obtain the following main conclusions: First, the digital city policy positively impacts firms' ESG performance. After controlling for the fixed effects of the different dimensions, a 1% increase in the level of digital city policy support represented by the DCPI raises firms' ESG scores by about 2%. Second, the facilitating effect of digital city policies on the sub-dimensions of ESG is asymmetric. Digital city policies significantly affect the environmental protection and corporate governance dimensions of firms, while the effect on CSR is not significant. Third, the impact of digital city policies on ESG performance is heterogeneous across different regions of China and cities with different population sizes. This paper will enrich the understanding of digital city policies and the research on institutional factors affecting ESG, which will provide some insights to both business managers and policymakers. [ABSTRACT FROM AUTHOR]

The aim of this paper is to evaluate the effects of civilian, military and dual (both military and civilian) R&D investments on the profitability of firms. In particular, this paper analyses the role of different types of R&D investment in a sample of firms that collaborate with the Spanish Ministry of Defence. This database contains detailed information about the R&D activities taking place and accounting and financial information. Our final sample consists of 935 observations from 158 firms during the period 2011-2018. The methodology used is the Generalised Method of Moments. The results show that military R&D is more significant than civilian R&D in explaining the financial firm performance in the Spanish defence industry. Moreover, they reveal differences between military and dual R&D and suggest the increasing importance of duality technologies. Finally, taking on board market segment idiosyncrasies does not eliminate, but reinforces, the differences observed. These results help to better understand the effects of R&D expenditure in the Spanish defence sector and are relevant in the current debate about reinforcing European defence capabilities. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between chartering contracts and the financial performance of U.S.-listed shipping firms. We use public data from SEC's 20-F forms for U.S. listed shipping firms to construct a unique dataset of vessel chartering decisions, comprising 8,733 vessel-year observations. We rely on panel data regressions to show that managing the notoriously high freight rate risk, by employing the greatest part of a shipping firm's fleet under time-charter contracts rather than voyage (spot) charter contracts, creates corporate value as it increases financial performance. This main result has several important implications regarding mainstream business decisions of shipping firms, such as vessels' operations and chartering. [ABSTRACT FROM AUTHOR]

The study of business performance has a substantial impact on improving the internal management and economic performance of companies. By analysing the previous literature, this paper chooses to measure the factors affecting business performance at four levels, including R&D investment intensity, human capital, patents, and brand value. The purpose of the study is to find out whether these selected factors work equally well for small and medium-sized enterprises. The sample size was 846 Chinese small and medium enterprises from different industries. The firm performance indicators were ROA and ROE. The data has been collected through National Equities Exchange and Quotations platforms based on updated annual reports in 2019. Finally, a stepwise descriptive analysis and multiple linear regression were conducted and predicted the tendency of business performance. The analysis provided the linear combination of four independent variables (R&D, human capital, patents, and brand value) which are significantly related to the dependent variable (business performance). In conclusion, we found that there is a positive impact of patents and brand value on business performance. In detail, we concluded that only production and highly educated personnel show a positive influence. For R&D intensity, there is no strong connection could be observed. In practical terms, this paper allows SME firms to appreciate the importance of human capital, patents, and brand value. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to assess the non-linearities between the ESG activities and firm performance in case of an emerging market. China is identified as a case study for the present examination. Even though this research objective has been explored by past researcher, the evidence presented in literature is not conclusive. The paper hypothesizes that such conflicting or inconclusive results can potentially be attributed to wrong modeling, datasets that include both developing and the developed markets, and the prevalent endogeneity issue in corporate governance literature. For the purpose of this paper, the author uses the dynamic panel approach of First difference and the System Generalized Method of Moments. The findings from the analysis of 232 Chinese listed firm show a positive association between ESG activities and the firm performance. However, the relationship is nonlinear. In other words, the relationship between ESG activities and the firm performance is inverted U-shaped. This indicates the relationship is positive up to a certain threshold and once the ESG activities cross that threshold it start to have negative effect. The key insight from this research is that the firm has to find their threshold of ESG activities to gain maximum benefits from such activities. [ABSTRACT FROM AUTHOR]

In recent years, the Chinese government has continued to increase investment in private firms. However, could State-owned shareholders promote the performance of private firms? There is also a lack of direct evidence. This paper serves a useful supplement to this problem. Based on the large sample data of Chinese listed private companies, the empirical results of this paper confirm the U-shaped relationship between the shareholding ratio of State-owned shareholders and firm performance, and the U-shaped relationship will be more significant when the degree of marketization of private firms is low. [ABSTRACT FROM AUTHOR]

Corporate social responsibility (CSR) emphasizes the coexistence between enterprises and stakeholders so as to achieve the coordinated development of economy, society and environment. Based on the concept of CSR and triple bottom line, this article innovatively puts forward the concept of triple performance balance, which refers to the coordinated development level of corporate economic, social and environmental performance, and tests the impact of CSR fulfillment on corporate balance development. In order to examine the comprehensive balance consequences of CSR, this paper takes Chinese listed companies as samples, and the method of coefficient of variation, ordinary least squares regression as well as grouping test are employed. The results shown that CSR is conductive to the balance development of corporate triple performance, and the attributes of state-owned enterprises and mature period enterprises are beneficial to exerting the positive role of CSR on balance performance. Finally, this research emphasizes the balanced view of corporate responsibility to realize the harmonious and sustainable development of enterprise and society. [ABSTRACT FROM AUTHOR]

The investigation of association between board diversity and the firm performance is the subject of many studies. However, the empirical results presented in the extant literature are inconclusive at best. The inconclusive empirical results could be due to several factors and one of them could be that the relationship is contingent on some key factors. Given the rising trend of Environmental, Social and Governance (ESG) activities, in this paper the relationship between board diversity and the firm performance is tested in the context of ESG activities. The subject of examination in this study is the listed Chinese firms. The sample period spans for 6 years and is collected from 2014 to 2019. This work uses a dynamic approach to modelling relationships. The generalised method of moments (GMM) is used in a two-step system. An endogeneity-free estimate may be achieved by using this strategy. We can learn a great deal from these hypotheses. There is a positive and substantial correlation between board diversity and the firm's success, which suggests that diverse boards are beneficial to businesses. Both ESG activities and a positive coefficient on company performance are significant. This shows investors appreciate companies that are involved in ESG activities because they see this as an investment that pays off. Last but not least, the report shows that board diversity has a negative and considerable impact on ESG efforts. According to the results, board diversity and ESG efforts are not necessary for a company's success. According to the data, board diversity is not particularly beneficial in the context of significant ESG initiatives. Board diversity really hurts a company's success when it engages in high ESG activities. The study also discusses the work's policy ramifications. Finally, the work lays out a clear path for further study. [ABSTRACT FROM AUTHOR]

This paper investigates the interaction between corporate environmental responsibility (CER) and corporate financial performance (CFP). Moreover, the moderating effect of environmental regulation and internal control on this relationship is also examined. Based on the panel data of 790 China's A-shares listed companies of heavily polluting industries from 2006 to 2019, the results show that while CFP has a significant positive impact on CER, the positive impact of CER on CFP is not significant. Further analysis reveals that environmental regulation plays a positive moderating role in the impact of CFP on CER, and the positive impact of CER on CFP become significant in higher internal control quality firms. The results indicate that good environmental performance is a consequence of earlier good financial performance, and the costs of implementing sustainable and responsible projects are not always offset by revenues sufficient to generate increases in profit. Our findings suggest that firms should improve the quality of internal control and government should increase environmental supervision to achieve a virtuous circle connecting CER and CFP. [ABSTRACT FROM AUTHOR]

This work proposes a new framework for sustainability improvement based on the analysis of the changes created by organisations' sustainable projects (SPs). The purpose is to help businesses making strategic decisions to better achieve both business and societal objectives. Revising the concept of Switching Costs and Benefits to focus on organisations' change effects, we apply multiple case-study analysis to co-create the framework with four participating firms. Firms are purposely selected based on pre-established criteria of financial and sustainability performance. Through a reiterative process, research is untangled in three stages of interactions with participants for a total of six societal objectives and 34 projects. Primary data are collected from heads of departments or sustainability project managers through semi-structured interviews, surveys, and email exchanges between 2018 and 2021. This paper provides theoretical and practical contributions. In particular, this research extends the theoretical discussions about how to reconcile business and societal interests by adopting a new perspective to organisational decisions based on the assessment of change effects. Practically, the proposed analysis offers an alternative approach to the evaluation and ranking of SPs as well as the achievement of their societal objectives. [ABSTRACT FROM AUTHOR]

The leader plays a crucial role in an organization, particularly during periods of change. Based on dynamic capability theory, this paper examined the relationship between dynamic managerial capabilities (DMC) and organizational performance, moderated by cynicism toward change and mediated by trust in leadership. The methodology used is a cross-sectional study with multisource data from the top 11 universities in Indonesia. In total, 2,047 respondents, either middle managers or lecturers, participated in this study. The research employed SPSS to test the hypotheses; the findings pointing to the moderated mediation effect of cynicism toward change, which affects the magnitude of the mediation relationship between trust in leadership and DMC as it relates to organizational performance. This study contributes to existing literature on leadership in relation to execution change strategy, particularly concerning how middle managers, with their dynamic managerial capabilities, build trust in leadership, particularly when there is cynicism, which affects organizational performance. [ABSTRACT FROM AUTHOR]

This paper presents the findings of a systematic literature review to identify research trends and future research opportunities focusing on how diversity is considered in the accounting literature. We retrieved 428 studies that consider diversity published in accounting journals over the period 1979–2021 from the Scopus database. Our analysis shows that research about diversity in accounting has significantly increased over the last five years, with the majority focusing on gender and on questions related to corporate governance. We identify four major themes on the topic of diversity: (i) diversity in the accounting profession; (ii) diversity in corporate governance; (iii) diversity in audit and accounting processes; and (iv) the influence of preparing and reporting organizational information on diversity. The results of these studies highlight that having more organizational diversity and reporting on diversity have positive implications for organizational performance; however, at the same time, this often creates or perpetuates power imbalances. A question remains as to whether this increasing focus on diversity in the literature reflects increasing attention to diversity in accounting to promote equity and social justice. This paper represents the first systematic review of diversity considerations in accounting, and helps scholars understand the main topics explored so far and, where research should focus next. [ABSTRACT FROM AUTHOR]

Drawing on the technological learning model of latecomer firms (LCFs) and the literature on catch-up, this paper examines how accumulated internal R&D investment, foreign technology in-licensing experience, and creative imitation experience independently and interactively affect innovation by LCFs. We showed that LCFs' accumulated internal R&D investment and creative imitation experience have a positive impact on their innovation, respectively. However, LCFs' creative imitation experience weakens the positive relationship between accumulated internal R&D investment and innovation, implying the paradoxical effect of LCFs' creative imitation strategy on their innovation. Using the unique panel dataset on drugs developed by Korean pharmaceutical firms between 1999 and 2019, we find evidence that generally supports our hypotheses. [ABSTRACT FROM AUTHOR]

This study addresses the critical need for coordinating electronic supply chain (E-SC) practices to maximize benefits for manufacturing firms. Despite existing literature, empirical studies have often overlooked the performance implications of such coordination. Using coordination theory, we argue that enhancing business value from E-SC investments requires integrating internal and external E-SC practices. We test three models to evaluate how coordinated practices impact operational and business performance, employing structural equation modeling on survey data from Omani manufacturing firms. The results confirm that effective coordination of internal and external E-SC practices mediates improved performance outcomes. This paper is the first empirical research to explore the mediating role of these coordinated practices in manufacturing contexts, highlighting several implications for the effective deployment and adoption of E-SC practices to achieve superior operational and business performance. [ABSTRACT FROM AUTHOR]

This study addresses the dearth of research on what enables firms' performance in the context of Industry 4.0 (I4.0). We investigate how I4.0 shapes the effects of firm investments over time and whether the effects of people and equipment depend on innovative management approaches. A longitudinal multi-sector study is conducted of 157 export-oriented, manufacturing firms in a European Union member state (Slovenia) over a 14-year period (in total, consisting of 1791 total observations). The findings suggest that firms which invest more in technology complement these costs by making investments in people, which over time leads to a higher firm performance. The I4.0 phase moderates this mediated relationship in that firms more advanced with respect to engaging in I4.0 tend to lower their human resources costs despite investing in technology while still showing a superior firm performance. This indicates the substitution effect of technology vis-à-vis human resources. The moderation of management innovation proved to be weaker, calling for a detailed look at its nuances across the studied levels. Taken together, our paper contributes in advancing the stream of research focused on internal factors and processes specifically related to firm investments and management processes, thereby leading to the outcomes of new technology use and capitalization. The findings highlight the link between I4.0 and technology management, and innovation, and complements the existing research on the link between management innovation and performance by contextualizing it within I4.0's new technology and socio-economic changes. [ABSTRACT FROM AUTHOR]

In March 2015, the Chinese government initiated an important reform program targeting the defense industry, namely civil–military integration (CMI), with the objectives of introducing military technologies to the civilian market and infusing private capital into military enterprises. On examining this unique exogenous shock in a 2007-2017 sample of Chinese A-share listed firms, we identify the following effects of CMI on military firms' performance. (1) The market value of military firms significantly increases after the establishment of the CMI policy in 2015 and the market value of military firms is on average 6.682% higher after 2015. (2) This effect is robust to propensity score matching, instrumental regression, alternative measures of corporate market value. (3) The positive impact of CMI on military listed firms' market value is stronger for firms with lower innovation ability and weaker corporate governance, suggesting that the CMI policy can improve the research and development abilities and ease the agency conflicts of military firms. (4) After 2015, military firms with weaker financial constraints and those located in provinces with lower marketization levels perform better. Overall, offering a micro-perspective on military firms, this paper complements the growing literature on defense economics and clarifies how CMI improves military firms' performance. [ABSTRACT FROM AUTHOR]

This article aims to summarize performance indicators used in telephone triage services research, and make recommendations for the selection of valid indicators to measure the performance of telephone triage. We describe what kind of frameworks, performance indicators, or variables have been used for evaluating telephone triage performance by systematically mapping the telephone triage performance measurement. The objective was to find measures for each Triple Aim dimension. A scoping review method was used following Joanna Briggs Institute guidelines. Using this method, we defined indicators to measure the performance of telephone triage. We used the Triple Aim framework to identify indicators to measure the overall performance of telephone triage. The Triple Aim framework consists of improving the patient experience of care, improving the health of populations, and reducing cost per capita. The scoping review was performed using CINAHL, Medline, EBSCOhost, and PubMed electronic databases. The eligibility criterion was research published in English between 2015 and 2023. The inclusion focused on the use and performance of telephone triage services and system-focused studies. A total of 1098 papers were screened for inclusion, with 57 papers included in our review. We identified 13 performance indicators covering all Triple Aim dimensions: waiting times, access, patient satisfaction, the accuracy of triage decision, severity and urgency of the symptoms, triage response, patient compliance with the advice given, follow-up healthcare service use, and running costs of service. We didn't find any earlier framework covering all Triple Aim dimensions properly. Measuring the performance of telephone triage requires an extensive and comprehensive approach. We presented performance indicators that may be included in the framework for measuring the performance of telephone triage to support overall performance measurements of telephone triage. [ABSTRACT FROM AUTHOR]

This paper demonstrates that the alternative data of manager turnover can provide investors and policymakers with a more timely and available predictor of new firm performance beyond the traditional financial information. This paper constructs a comprehensive alternative dataset of manager turnover that covers a near-population sample of new firms in the United Kingdom. It shows that manager departures and appointments can predict new firms' survival and growth, even after controlling for firm financials. In addition to the within-firm prediction, the average manager turnover in other firms of the same industry can cross-predict individual firm performance. The within-firm prediction is more pronounced for non-family firms, smaller firms and firms incorporated during or after the Great Recession, and the cross-firm prediction is stronger for younger firms. This paper sheds light on the power of alternative data in the prediction of firm performance, particularly for new firms that often do not have available information. [ABSTRACT FROM AUTHOR]

The purpose of the paper is to analyse the effects of interpersonal trust in business relations (proxied by trade credit) and institutional trust (proxied by firms' trust in courts) on firms' performance. The analysis is performed on a specific sample of 1298 firms in Western Balkan countries which are usually characterized by negative social capital that is considered to hinder economic and social development at all levels. The methodological approach is based on the propensity score matching method and the obtained results show that firms' perception of courts as fair, impartial and uncorrupted, is connected with lower costs and with positive expectations of an increase in sales in the upcoming period. On the other side, trade credit as a trust variable has a statistically significant and positive effect on firm productivity measured as sales per employee and on expectations of an increase in sales in the upcoming period. The paper contributes to the existing literature in terms of the choice of the post-socialist groups of countries for the analysis, the method that is used (treatment-effects estimation), and in terms of performing firm-level analysis of the effects of two types of trust on selected variables of firm performance. [ABSTRACT FROM AUTHOR]

This paper estimates the impact of the different proximity dimensions on the subsequent innovation performance of firms which received radical knowledge spillovers. The analysis for the case of biotechnology small- and medium-sized firms (SMEs) in Germany is based on a dataset covering the period from 1998 to 2017. Results indicate the positive impact of social and organizational proximity on the innovation performance of radical knowledge recipients. Geographical proximity has a negative impact, whereas for cognitive proximity a U-shaped relation is observed. The paper contributes to the innovation economics and economic geography literature by underlining the peculiarities of the effectiveness of radical knowledge spillovers. Additionally, the importance of policy support for SMEs across regions and technological fields is highlighted. [ABSTRACT FROM AUTHOR]

This study investigated the diversity of the BOD and explored its impact on corporate governance through quantitative empirical analysis. This study uniquely adopted Taiwan Stock Exchange Corporate Governance 100 Index (TWSE CG 100 Index) as the measurement of corporate governance performance. Five highly related indicators, i.e. gender, independence, education, legal, finance or accounting profession, and seniority to measure board diversity, which could be efficient variables on predicting the firms' likelihood being listed in the TWSE CG 100 Index, were used as independent variables. The results showed that board independence and the seniority of directors have a positive impact on corporate governance. This study made several important contributions. First, this study shed light on the conflicting evidence on the relationship between board diversity and firm corporate governance performance for the Taiwan economy. Second, this paper uniquely adopted TWSE CG 100 Index, and the findings can contribute to giving investors predictions about the quality of corporate governance and can serve as an incentive for corporates to enhance superior corporate governance. Furthermore, this study can contribute to practice by providing optimization suggestions for BOD composition and nomination. At last, this paper demonstrated policy justifications and implications for Taiwan government. [ABSTRACT FROM AUTHOR]

Pricing is an important topic in supply chains. In this paper, we explore the coordination challenge with the use of simplest contracts for the case with two products. To be specific, we consider a single-manufacturer single-retailer make-to-order supply chain. In the base model, we consider the case when the product demands are independent and derive the optimal pricing decisions under a decentralised setting. Comparing with the centralised setting, we show that double marginalisation in the decentralised setting reduces the supply chain efficiency by 25%. We then find that the simpler contracts such as the three-parameter two-part tariff (3P-TT) contract and the three-parameter revenue sharing (3P-RS) contract can coordinate the two-product supply chain. We extend the analysis in two cases: (i) the case when the products are substitutable and (ii) the case when the retailer is risk averse, and show that both the 3P-TT and 3P-RS contracts can coordinate the respective supply chain. We also find that the degrees of product substitution and retailer's risk averse significantly influence the supply chain performance. [ABSTRACT FROM AUTHOR]

During the last 10 years, important contributions about knowledge management (KM) issues in supply chain management (SCM) have been published. The current paper aims to build upon previous literature reviews focused on KM in supply chains (SCs) from an integrative perspective, particularly recognising the studies conducted by Bhosale and Kant (2016. "Metadata Analysis of Knowledge Management in Supply Chain: Investigating the Past and Predicting the Future." Business Process Management Journal 22 (1): 140–172) and Cerchione and Esposito (2016. "A Systematic Review of Supply Chain Knowledge Management Research: State of the Art and Research Opportunities." International Journal of Production Economics 182: 276–292) as an effort to discuss the evolution of KM in the SC field. To this end, a systematic literature review including 210 papers is conducted over the period 2008–2017 from three positions previously not addressed jointly within the supply chain (SC) context: research methods employed by the authors; KM processes applied in the business processes across the SC; and intra and inter- organisational performance metrics linked with KM initiatives. Results exhibited that: (i) 'Survey' and 'Case study' are the two research methodologies mostly employed by authors (ii) the knowledge transfer is discussed in the majority of the studies reviewed, (iii) 114 intra and inter-organisational performance metrics are reported within the SC context from an empirical data approach. Findings concerning previous identified gap analysis and future lines of research are described. [ABSTRACT FROM AUTHOR]

By drawing on institutional theory and new public management (NPM) theory, this study examines the intervening roles of performance measurement systems (PMS) and financial autonomy on the relationship between top management support (TMS) and the performance of public organizations in an emerging market. The research model and hypotheses have been tested using partial least squares structural equation modeling (PLS-SEM) with 219 survey responses from accountants and managers working in public sector organizations (PSOs) in Vietnam. Results support both direct and indirect relationships between TMS and performance through PMS. Analysis shows that financial autonomy is the moderating variable for the relationship (1) between TMS and PMS, and (2) between PMS and organizational performance. From these findings, this study proposes theoretical and managerial implications to improve TMS and PMS to enhance performance in Vietnam's public organizations. This paper especially suggests that policymakers in developing countries reform financial autonomy and the market principle. [ABSTRACT FROM AUTHOR]

Innovation is important to firms' productivity, competitiveness, agility, resilience and growth. The success of a firm's innovation strategy depends in part on how it combines and absorbs different innovation activities. Using the Crépon-Duguet-Mairesse (CDM) structural model, this paper analyses complementarity between product and process innovation for the case of small and micro manufacturing firms in Johannesburg, South Africa. The empirical analysis utilises rich new firm-level survey data that, unlike most firm surveys, includes micro-sized firms as well as informal enterprises. Our results show strong evidence of complementarity between product and process innovations in their effects on firm performance. The results suggest that firm size, capital intensity, firm age, innovation expenditure and financial constraints are key variables associated with complementarity. We extend the specifications used in previous studies to take account of the contextual setting, with split samples by firm formality, ownership and size. We find evidence of complementarity in formal firms only. Our results also show stronger effects of complementarity in micro-firms and foreign-owned firms. The findings have relevance for promoting innovation and for enhancing the effects of innovation on firm performance among micro- and small enterprises (MSEs) in a developing country context. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the nexus of relationships linking firm innovativeness (FI), supply chain agility (SCA), and firm performance (FP). Grounding on Service-Dominant Logic (SDL) and Dynamic Capability View (DCV), this study explores the role of three types of FIs (i.e. service innovativeness, process innovativeness and administrative innovativeness) on SCA and its impact on different dimensions of FP. Limited empirical evidence is available in the SCA literature that examines FI as antecedents of SCA and explores SCA benefits using diverse performance parameters. We test the proposed model using survey data of 238 Australian service firms and analyzed it using partial least square-based structural equation modelling (PLS-SEM). Our result found that three types of FI are positively related to SCA, and SCA is positively related to all dimensions of FP. Investment in innovation practices are often considered as core practices of service-oriented firms during an uncertain time. Our results offer some useful guidelines for practitioners. [ABSTRACT FROM AUTHOR]

Entrepreneurs are critical human resources that have a significant impact on the performance of entrepreneurial firms. Yet, the nature of many entrepreneurial resources means that they are in demand by both their work (firms) and their families. Little is known about the impact that such dual demands might have on an entrepreneur's ability to manage their own resources for their firm's performance. Drawing upon conservation of resources (COR) theory and family-work literature, this paper develops a model to examine how family-to-work conflict (FWC) and family-to-work enrichment (FWE) shape the performance of entrepreneurial firms, directly and indirectly, through the mediation of entrepreneurial commitments. The model also explores the potential role of entrepreneurs' key personal resources as a unique type of human resource that utilizes entrepreneurs' internal dispositions to moderate the relationship between FWC/FWE and entrepreneurial commitments (and, hence, business performance). Empirical results from a study of 261 entrepreneurial firms in China provide support for our conceptual model. The paper has important implications for both HRM and entrepreneurship research and practices. [ABSTRACT FROM AUTHOR]

Since international trade is developing rapidly and the world is facing serious problem of energy shortages, this paper focuses on analyzing if export liberalization can help to improve the country's energy efficiency. In this paper, we establish the theoretical trade model at micro-level and study how export liberalization affects energy use performance of the firm. Then, we employ data of Chinese exporters to conduct empirical analysis. Our results suggest export liberalization can improve energy use performance of the firm, which shows that export liberalization has positive effects on firm's energy use performance. The results of mechanism test suggest that export liberalization can improve firms' productivity and increase firms' innovation ability, which can further help to increase firms' energy use efficiency. Altogether, this paper gives evidence on the effects of export liberalization on energy use performance, which reveals the importance of trade liberalization in solving the global energy problems. [ABSTRACT FROM AUTHOR]

Digital platforms and activities permeate everyday lives in multiple ways. They organize different modes of movement, and sometimes, who moves and who stays still. This paper takes its empirical starting point by exploring Airbnb hosts, not only through the lens of tourism labour but also within the larger context of platform-mediated work. This paper pursues two aims in exploring how trust is produced and negotiated on the platform and how the platform serves to align host performances towards corporate interests. The paper argues that the affordances of the platform are designed to develop digital credibility, or digital capital, which in turn functions to discipline hosting performances, which become instrumentalized, measured, and controlled in accordance with business interests and corporate understandings of hosting performances. In doing this, the paper argues that the development of digital capital is integral to navigating the digital platform successfully and explores how digital capital is produced and instrumentalized through the development of profiles, the review system, and the superhost status. This paper contributes insights into the workings of a key platform for facilitating tourism but also adds to the current discussion on the organization of interactions in platform capitalism. [ABSTRACT FROM AUTHOR]

In this paper we analyze whether R&D cooperation improves firms' performance, and which variables would boost R&D cooperation the most. We contribute to the literature linking two different branches: using a sample of Italians firms, we analyze which are the main determinants of R&D cooperation and whether R&D cooperation improves firms' performance. Thus, we conduct a two-step analysis: in the first step we investigate the significant determinants of cooperation, and in the second we employ these determinants to test the effect of R&D cooperation on firm performance, measured by ROA, Ebitda, and value added per capita. The analysis focuses on four relevant disaggregations: (i) small, medium, and large firms; (ii) Pavitt (1984. "Sectoral Patterns of Technical Change: Towards a Taxonomy and a Theory." Research Policy 13 (6): 343–373) sectors; (iii) location (North, and Center-South); and (iv) public and private partners. Although the determinants of cooperation can vary depending on the type of disaggregation, we find that R&D cooperation always boosts firm performance, that is, on average, profitability and productivity are higher among cooperating firms compared to those that do not cooperate. Identifying the determinants of cooperation allows management and policymakers to understand which strategies should be implemented to stimulate cooperation and, consequently, to improve firms' performance. [ABSTRACT FROM AUTHOR]

This paper aims to examine the effect of corporate governance (CG) and information asymmetry (IA) on firm performance (FP). We applied 3SLS (Three-Stage Least Squares) regressions to examine the relationships among (1) internal CG mechanism and FP, (2) internal CG mechanism and IA, and (3) IA and FP. The data used in this study were obtained from secondary sources such as Bloomberg and SETSMART. The period of data collection was for nine years, from 2014 to 2022, with a sample size of 3,692 firm-year observations of companies listed on the Thailand Stock Exchange. Our study finds that internal CG mechanisms (board size, board independence, dividend policy, and financial leverage) are positively related to firm performance. Secondly, CG mechanisms are positively associated with analyst coverage (and hence inversely related to IA). This finding suggests that internal CG mechanisms augment corporate transparency and reduce agency costs and adverse selections. Thirdly, IA is inversely related to firm performance, ie more transparent firms with greater analyst coverage tend to deliver better firm performance as monitoring costs and adverse selection are reduced. We found that additional analyst coverage is associated with an increase of a firm's ROE by 0.52% and its ROA by 0.08%. Fourthly, we further conducted an interaction effect analysis of CG and IA on FP and found that IA also significantly moderates the relationship between CG and FP. Practical implications from our study are also discussed. Impact Statement: This paper aims to examine the effect of corporate governance (CG) and information asymmetry (IA) on firm performance (FP) in an emerging market of Thailand. Our study finds that internal CG mechanisms (board size, board independence, dividend policy, and financial leverage) are positively related to firm performance. Secondly, CG mechanisms are positively associated with analyst coverage (and hence inversely related to IA). This finding suggests that internal CG mechanisms augment corporate transparency and reduce agency costs and adverse selections. Thirdly, IA is inversely related to firm performance, i.e., more transparent firms with greater analyst coverage tend to deliver better firm performance as monitoring costs and adverse selection are reduced. We found that additional analyst coverage is associated with an increase of a firm's ROE by 0.52% and its ROA by 0.08%. Fourthly, we further conducted an interaction effect analysis of CG and IA on FP and found that IA also significantly moderates the relationship between CG and FP. [ABSTRACT FROM AUTHOR]

Sustainable business performance is a rapidly growing field of research that encompasses both academia and business. The purpose of this study is to identify current and emerging research trends and provide a comprehensive map of the knowledge structure in the field of sustainable business performance, consistent with recent developments in bibliometric research. Therefore, this article offers a comprehensive bibliometric analysis based on the performance analysis and science mapping of the academic literature related to sustainable business performance published between 1996 and 2021 in 807 publications on the Web of Science. By using two powerful bibliometric visual software tools, VosViewer and CiteSpace, and by applying various bibliometric analyses such as co-citation analysis, co-authorship analysis, bibliographic coupling, co-occurrence of keywords analysis, burst detection analysis, and timeline view analysis, this paper presents the fundamental characteristics of the body of knowledge in this research field, while identifying the most influential publications, institutions, source titles, countries, and authors, and the evolution of keywords these years. The paper concludes with a discussion of the most popular research topics and identification of emerging research pattern areas that should be on the future research agenda for researchers interested in sustainable business performance. [ABSTRACT FROM AUTHOR]

This paper analyzes the impact of economic policy uncertainty on firm performance. Utilizing a news-based index of economic policy uncertainty and firm-level data in China, firm investment, employment, and revenue are found to be negatively associated with policy-related economic uncertainty. This negative relationship is weakened in state-owned enterprises (a fall in investment of 5.61%, employment growth of 0.09%, and sales growth of 0.31%) compared to that of non-state-owned enterprises (a fall in investment of 7.79%, employment growth of 0.14%, and sales growth of 0.34%). We explore several potential explanations and find evidence supporting that economic policy uncertainty reduces the incentives of firms to expand their operation through the mechanism of risk-taking, cash holdings and tax burden. Given this microscopic study on mechanisms, our analysis provides a reference for policy-makers to effectively reduce economic fluctuations. [ABSTRACT FROM AUTHOR]

This paper investigates how a crisis event resulted in the long-term decline in media-tech firm performance. The research developed an intellectual bridge and transfer of knowledge between the previously discrete fields of Strategic Management and Epigenetics. The study used a multi-method approach consisting of the critical incident technique, longitudinal content analysis of corporate annual reports and financial analysis which divided the data into "what happened before the crisis event" and "what happen after the crisis event". The paper concludes that by examining failed corporate turnaround and chronic performance through the lens of epigenetics, we are better able to understand how a crisis event can create transgenerational responses which result in adaptive cultural norms that combine to consolidate corporate underperformance. [ABSTRACT FROM AUTHOR]

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In the era of technological innovation, some companies own similar patent assets but capture different profits. The paper aims to explore whether and why there are different effects of patent assets on firm performance across industries. The listed corporations in the Growth Enterprises Market (GEM) of Shenzhen Stock Exchange, China, are taken as samples, which are categorised as three industries: the technology-intensive industry, capital-intensive industry, and labour-intensive industry, in light of the production factors. Moreover, the multiple stepwise regression and the fixed effects model are utilised. This paper highlights the effects of patent assets on firm performance are different across industries. Patent quality strongly influences firm performance in the technology-intensive industry, while patent count increases firm performance in the capital-intensive industry and labour-intensive industries. Notably, technological knowledge stock owned by companies plays a moderating role in influencing patent assets on firm performance in the technology-intensive industry. Our findings enrich the research on patent assets influencing financial performance from the industrial difference perspective and suggest that companies in different industries should take differentiated patent strategies to improve firm performance. [ABSTRACT FROM AUTHOR]

This paper studies the association of managerial ability (MA) with efficiency in working-capital management (WCM) of firms. Using a large sample of 1,14,173 firm-year observations between 1988 and 2018 in the US, we show a negative contemporaneous relationship between MA and efficiency of WCM, indicating that more able managers manifest higher WCM efficiency and thereby affect firm performance positively through a mediating channel of WCM. Further, we show that this association is non-linear in nature with managers focusing more on long-term value-enhancing projects for the firm beyond a threshold MA level, having already attained the optimal efficiency in WCM. The results remain robust after a series of robustness tests. [ABSTRACT FROM AUTHOR]

Managers' attention to different risk factors conveys important information to investors. This paper examines the association between managers' risk attention allocation schemes and the performance of firms across different sectors. We innovatively use the text mining approach to measure the differentiation and decentralization of risk attention from textual risk disclosures reported in 65,878 10-K statements. The results show significant sector heterogeneity in managers' attention to different risk topics. For the consumer goods sector, managers with differentiated and decentralized topics can improve the company's profitability and solvency. In contrast, managers in the financial and healthcare sectors need to maintain topic attention concentration. In addition, we find that managers' attention to product approval, system security, and business impact has gradually increased over time to adapt to the internet economic environment. [ABSTRACT FROM AUTHOR]

Construction companies are bedevilled with several profound challenges that hamper the efficient performance and operation of the organizations. Extant studies have reported on organizational learning as an effective strategy for improving organizational performance. However, there is a dearth of studies in the construction industry context, especially from the perspective of developing countries where construction companies are on the disadvantaged side of the digital and economic divide. Thus, this paper aims to investigate the impact of organizational learning on organizational performance through the mediating variable of organizational innovation in construction companies based in Iran. Data was collected via a mixed approach, which involved an empirical questionnaire survey and a Delphi survey. Descriptive and inferential statistics were employed for data analysis, and a PDCA (Plan-Do-Check-Act) model was proposed for execution. The study revealed that organizational learning has an impact on organizational performance, organizational innovation affects organizational performance, and organizational learning directly affects organizational performance in the study context. It presents an empirical model to demonstrate that the right innovations and their appropriate applications can improve the organizational performance and operational efficiency of organizations, which would be of profound benefit to various key stakeholders engaged in the construction industry. [ABSTRACT FROM AUTHOR]

The winner's curse describes the behavioural phenomenon that the winner of a bidding contest pays a price that is too high. This paper shows that experiential learning cannot prevent a winner's curse on the market of corporate control as acquiring firms with acquisition experience still pay a higher price for the target in a bidding contest. Acquisition experience, however, is related to a superior post-acquisition performance of the winning firm after acquisitions associated with a bidding contest. [ABSTRACT FROM AUTHOR]

This paper employs a multidimensional fixed effects model and examines the impact of the digital economy on the performance of firms in traditional industries. We have identified a pattern similar to the "IT productivity paradox" observed in the United States during the 1980s. Using data from A-share listed Chinese firms from 2011–2019, we find that the digital economy significantly reduces the short-term performance of firms by intensifying market competition and increasing adjustment costs. On the contrary, the digital economy improves firms' long-term performance through accumulation of human capital and greater innovation capability. Competitive strategies strengthen the effect of the digital economy on the long-term performance of firms. Additionally, our research demonstrates that technology-intensive firms and small firms experience more pronounced negative effects in the short term but firms with high-tech titles suffer smaller shocks than other technology-intensive firms. These findings presents novel perspectives on the influence of the digital economy on firm performance, offering valuable insights for managers, investors, and policymakers involved in economic decision-making. [ABSTRACT FROM AUTHOR]

This paper investigates the effect of foreign ownership on firm performance in the South African informal sector. Using the data of 1097 informal businesses sourced from the World Bank Enterprises Survey conducted in four Township provinces in South Africa (Gauteng, KwaZulu-Natal, Eastern Cape and Western Cape) in 2020, the paper aims to address two issues: what is the effect of foreign ownership on performance in the South African informal sector and what factors drive foreign-ownership gap in the South African informal sector if it exists? The empirical analysis uses the multivariable decomposition technique and finds a performance gap between locally and foreign-owned businesses in the South African informal sector. A decomposition of factors shows that differences in endowments can explain the bulk of the gap. Discriminatory/unexplained factors, likely capturing the business culture, also play a significant role. Caution is given when seeking to curb foreign business participation in the informalsector. [ABSTRACT FROM AUTHOR]

This paper examines how CEOs educational background affects the agglomeration economies–firm performance relationship based on the upper echelons theory. With a sample of Chinese software and information technology services public listed firms, it is found that CEO educational specialization helps firms to reap the benefits of agglomeration. Specifically, firms led by CEOs with science or engineering degrees benefit more from specialization externalities, while firms led by CEOs with business, economics or legal degrees enjoy more diversity externalities. This paper contributes to the specialization versus diversity debate by stating the importance of individual CEOs. [ABSTRACT FROM AUTHOR]

Growth in the craft beer sector has been unevenly distributed over time and in terms of geographical area. While the spatial drivers of craft breweries in the United States are well documented, research on the situation in European countries is still limited. This paper investigates the locational determinants of the Hungarian craft brewing industry between 2005 and 2018 at the level of small regions. We employ negative binominal models to determine the relationship between the number of microbreweries and locational factors. We find that demand-side factors, including income, level of education, proportion of youth in a region and population density, positively affect the number of craft breweries. We emphasize that general local economic characteristics may be less important, whilst industry-specific local conditions (e.g., craft brewing traditions and market saturation) significantly impact the location choice of craft breweries. Our estimations highlight the role of transport costs in location decisions. Finally, we demonstrate the relevance of the availability of water, one of most important inputs in beer production. [ABSTRACT FROM AUTHOR]

The cultural industry with innovation, low pollution and low energy consumption may become the next strategic pillar industry in China. The tax reform of 'Replacing business tax with value-added tax (VAT)' not only lays a solid foundation for the establishment of green tax system, but also contributes to the enterprise development and performance improvement. This paper aims to study the impact of VAT reform policy on the financial performance of listed companies in the cultural industry. To this end, the PSM-DID method was applied, and natural experiments were made by taking A shares listed companies from 2009 to 2014 as the reform pilot. The research finds that: (1) the VAT reform policy 'replacing business tax with VAT' is conducive to improving the financial performance of cultural industry enterprises; (2) the policy has more positive impact on the financial performance of manufacturing cultural enterprises than on non-manufacturing ones; (3) compared with state-owned enterprises, the policy contributes more to the financial performance of private enterprises. This study provides empirical evidence for evaluating the impact of VAT reform policy on the operation of cultural industry enterprises. It has practical significance for improving the VAT system and the financial operation of cultural enterprises. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to analyse the relationship between quality management, performance appraisal and pay for performance in a sample of 203 manufacturing plants (including firms that do not apply quality management) in Spain employing at least 20 workers. We make a distinction between collaboration with suppliers, customer focus and the use of quality tools. This consideration of quality management as multidimensional will help to disentangle the complex interrelationships with performance appraisal and pay for performance. Our findings point to a positive association of customer focus, collaboration with suppliers and quality tools with performance appraisal evaluating results and behaviours. Regarding pay for performance, closer collaboration with customers is positively related to individual pay for performance. The use of quality tools is positively related to individual and firm pay for performance. The managerial implications point out that there is still room for improving the effectiveness of quality initiatives by incorporating changes in pay for performance and performance appraisal oriented to the adaptation to the principles of quality management. From the theoretical perspective, our paper underlines the importance of not considering quality management as a unidimensional reality when examining its relationship with other management practices. [ABSTRACT FROM AUTHOR]