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This study examines the relationship among corporate social and environmental disclosures, firm risk, and board gender diversity. This paper offers fresh insights into the relationship between corporate social and environmental disclosures and gender diversity and firm risk., Using panel data of Chinese nonfinancial A‐share‐listed companies from 2008 to 2020, we discover that the correlation between gender diversity on the board and corporate social and environmental disclosures has a significant negative influence on firm risk. The findings also revealed that the impact of gender diversity and corporate social and environmental disclosures is more pronounced to mitigate firm risk in nonstate‐owned enterprises than in state‐owned enterprises. For robustness, we used the generalized method of moments to control for reverse causality and endogenous variables' existence; the findings are similar to the main results. The study contributes to the literature by offering a contingency approach to examine the relationship between corporate social and environmental disclosures and firm risk and sheds light on the relationship in the context of a developing economy. [ABSTRACT FROM AUTHOR]

This study delves into the effect of environmental, social and governance (ESG) indicators on economic growth trajectory of an emerging economy. A sample of firms listed on the ESG index of the National Stock Exchange (NSE) was examined. The findings reveal a positive and statistically significant relationship between ESG performance indicators and economic growth represented as gross domestic product (GDP) per capita. The sample is further segregated into energy and non‐energy sectors, where the aggregate ESG scores exhibited a statistically significant influence on economic growth in both sectors. However, upon a closer examination of the individual ESG pillars, the governance pillar is observed to exert a negative influence on economic performance in non‐energy firms. In contrast, the environment and social pillars show no significant influence. The analysis then employs a unique approach by applying a Difference‐in‐differences estimator to assess the impact of Business Responsibility and Sustainability Reporting (BRSR) regulations, which confirms a positive impact on economic growth after regulations but exclusively within the non‐energy sector. This study underscores the substantial impact of ESG aggregate and individual scores on GDP per capita, which translates to economic growth. [ABSTRACT FROM AUTHOR]

This study investigates the motivating factors behind the formalization of small informal enterprises in Bangladesh, an emerging economy, employing the lens of institutional theory. It emphasizes how regulatory structures, normative pressures, and cognitive understandings shape the decisions of SME owners in emerging economies like Bangladesh. A significant portion of small enterprises in Bangladesh remain informal, leading to concerns over economic development, productivity, and efficiency. Informal enterprises often face challenges such as limited access to finance, market entry barriers, and regulatory hurdles. Recognizing the need for formalization, this research aims to understand the drivers behind this transition. A questionnaire survey of 304 informal enterprises reveals that streamlined regulatory systems, particularly one‐stop solutions and simplified registration processes, are primary motivators for formalization. Additionally, flexible collateral requirements for financing and lower levels of technological adoption also significantly influence this transition. These findings contribute to the academic discourse on informal businesses in emerging economies and provide key policy implications for fostering formalization through targeted strategies and policies. [ABSTRACT FROM AUTHOR]

While the role of digital technologies (DTs) in facilitating entrepreneurship is well established, research on understanding the role of DTs among circular start‐ups as part of their overall strategy is scarce. This is vital from the perspective of emerging economies, such as India. The study aims to identify and analyse the factors influencing digital technology adoption in circular start‐ups using the Technology‐Organisation‐Environment (TOE) framework and Technology Acceptance Model (TAM) to form a novel Circular Startup Digital Adoption (CSDA) framework. In addition to integrating the TOE framework and TAM, the study utilises a systematic literature review with subject‐matter‐expert (SME) consultation in order to determine the factors of the CSDA framework. To the best of the authors' knowledge, this is among the first studies to analyse the factors behind the adoption of DTs by circular startups from an emerging economy perspective, offering theoretical, managerial and policy implications. [ABSTRACT FROM AUTHOR]

Research Questions/Issues: Using insights from agency and signaling theories, we examine the effect on companies' market‐based performance of a unique monitoring mechanism of compliance with a corporate governance (CG) code, that is, independent certification of compliance with a CG code and type of certification provider. Furthermore, we examine the impact of two boundary conditions, family company status and company‐level information asymmetry, influencing the effect of independent CG compliance certification and type of certification provider on the market‐based performance of companies. Research Findings/Insights: Based on 1110 Bangladeshi company‐year observations from 2006 to 2017, we firstly find that independent CG compliance certification is positively associated with companies' market‐based performance. Secondly, we show that CG compliance certification by a chartered secretarial firm is related to higher market‐based performance. Thirdly, we document that family companies attenuate both these associations. Finally, we find that, while company‐level information asymmetry reinforces the association between CG compliance certification and market‐based performance, it weakens the relationship between certification by a chartered secretarial firm and companies' market‐based performance. Theoretical/Academic Implications: Our findings are consistent with the agency and signaling theory that independent certification of CG compliance and this certification by a chartered secretarial firm reduce information asymmetry between managers and external investors by signaling enhanced credibility of reported CG compliance information. However, the roles of CG compliance certification and certification by a chartered secretarial firm to reduce agency conflict and provide credible signals are conditional on two boundary conditions: family company status and company‐level information asymmetry. Practitioner/Policy Implications: This study's findings highlight the economic implications of a unique mechanism for monitoring compliance with an adopted CG code. The findings have significant implications for policy makers and regulators in emerging economies. [ABSTRACT FROM AUTHOR]

Through using 17,995 firm‐year observations of all the Chinese A‐share listed firms from 2008 to 2016 as a sample, we document that firms with vertical interlock have a lower likelihood of committing corporate fraud. We further test the underlying mechanisms, and we find that the effect of vertical interlock on the occurrence of corporate fraud is more pronounced when firms operate in a region with poor legal protection; with the legal environment being enhanced in China, the effect of vertical interlock has become less significant; and the effect of vertical interlock is also more pronounced when firms exhibit poor information environment at the firm level. Our results in this paper imply that the role of large shareholders and legal protection are substitutes in an emerging economy, and even with rapid economic and legal development in China, large shareholders keep playing a positive role in controlling fraudulent behaviours in Chinese listed firms. [ABSTRACT FROM AUTHOR]

The study aspires to identify the factors conditioning the adaptation of the fourth industrial revolution (4IR) within the manufacturing industries in Bangladesh, embracing Industry 4.0 (I4.0) technology led by the technology‐organizational‐environment (TOE) framework that links a number of conditioning variables in the manufacturing industries of Bangladesh. I4.0 is going to drastically change the landscape of the extended TOE framework to relate demographics with research variables for implementing I4.0 technology in a developing country. The findings of the study are analyzed using SMART PLS SEM 4.0 and SPSS 29 in order to diagnose technological contexts (IT resource availability, technology readiness, and relative advantage), organizational contexts (strategy and leadership, organizational capabilities, and technology infrastructure), and environmental contexts (market pressure, government support, and technology innovation decision making). The study's data, which were collected with a bootstrap confidence range of 95%, offered evidence in favor of both proposed mediating effects. A statistically significant indirect effect of adaptation of I4.0 technology on manufacturing/industry performance was seen in the analysis. This study is conducted to examine the mediating function of manufacturing performance, which enhances the comprehensiveness of the study. Through the application of the TOE framework, this study investigates the impact of I4.0 technology adoption on manufacturing performance. The theoretical framework of the study has been validated by the TOE model, which aims to heighten manufacturing performance by integrating I4.0. The practical implications of this study, organizations, governments, and practitioners engaged in the implementation of I4.0 technologies within developing nation contexts. [ABSTRACT FROM AUTHOR]

This study aims to examine the relationship between the political connections of companies' independent supervisory boards (PC‐ISB) to these firms' performance during the COVID‐19 pandemic in Indonesia. This study used 1515 observations of companies listed on the Indonesian Stock Exchange (IDX) for the years 2018–2021. The test was carried out using moderated regression analysis. Additional tests were also conducted, such as market performance tests and endogeneity tests using the System Generalized Method of Moments (the System GMM) and the difference‐in‐difference (DID) regression analysis. Results confirm that PC‐ISB has a significant positive effect on company performance. Then, during the COVID‐19 pandemic, the company's performance got worse. However, we did not find that pandemic conditions moderated the relationship between PC‐ISB and company performance. Our results remained consistent after testing using the System GMM and the DID to address the issue of endogeneity. [ABSTRACT FROM AUTHOR]

Despite the growing understanding that circular business models (CBMs) play a pivotal role in facilitating the transition from a linear to a circular economy, there is a lack of relevant literature on how CBMs can be implemented in businesses in developing countries. This study addresses this significant gap in the literature by revealing the insights and dynamics of the implementation of a CBM in a typical developing economy—Nigeria. A notable business model adopted by breweries and beverage companies in Nigeria—a returnable glass bottle process—was investigated through an in‐depth exploration of six companies in a qualitative case study that involves collecting data through interviews, exploratory field observation, and documented evidence (literature). The study generated empirical‐based evidence on how CBM can be implemented in a business value chain where formal and informal actors co‐exist and interact. It also discloses several barriers and enablers associated with CBM implementation in the context of developing economies. Collaboration, social inclusiveness, waste management, durable product design, and cost reductions are some of the enablers identified in the study. The key barriers are largely external and conspicuously linked to the socio‐economic disadvantages peculiar to developing economies such as the absence of effective legislature, lack of infrastructure, lack of technological innovation, unavailability of finance, and the emergence of large retail stores that operate on a disruptive business model. Finally, the current research provides practical suggestions and recommendations for the appropriate designing and transitioning of CBMs in developing countries' context. [ABSTRACT FROM AUTHOR]

We examine the impact of the economic state on capital structure dynamics of Indian and Chinese listed firms using a 10‐year sample period. The empirical analysis is based on the standard partial adjustment mechanism. The economic state (in the base model) is categorised into a good and bad state based on the gross domestic product growth rate. Using system generalised method of moments estimation, our findings suggest that the capital structure speed of adjustment is pro‐cyclical for Indian firms, i.e., they exhibit faster adjustments during a good state of the economy than the bad state. In contrast, the speed is countercyclical in the context of Chinese firms, i.e., they exhibit slower adjustments during a good state of the economy and vice versa. Furthermore, consistent with the existing literature, Indian firms do faster rebalancing than the Chinese ones. Our findings are robust across alternate measures of leverage as well as the economic state. [ABSTRACT FROM AUTHOR]

Small and medium‐sized enterprises (SMEs) in emerging economies strive to achieve and sustain their financial and competitive positions in a dynamic resource‐constrained environment. The concept of resource bricolage has received little attention in the literature on emerging economies. To fill this gap, we draw perspectives from the resource‐based view to examine the impact of resource bricolage on the competitive advantage and financial performance of SMEs in Pakistan. We argue that organizational innovativeness functions as a mediator in the relationship between resource bricolage, financial performance, and competitive advantage, while entrepreneurial orientation simultaneously moderates the relationship between resource bricolage and organizational innovativeness. We collected data from 398 SMEs in Pakistan and analyzed these relationships using the partial least squares method. Our results suggest that resource bricolage effectively promotes the financial performance of SMEs and helps them gain a competitive advantage. The relationship is mediated by organizational innovativeness, which accelerates financial performance and competitive advantage. Entrepreneurial orientation moderates the resource bricolage–organizational innovativeness relationship, but it is only effective when a high level of resource bricolage is in place. Our study suggests that SMEs operating under similar socioeconomic environments must efficiently focus on resources embedded in the firm and utilize them to achieve competitive advantage and enhance financial performance. Our study highlights the critical need for research on organizational innovativeness in emerging contexts and proposes significant theoretical and managerial implications. [ABSTRACT FROM AUTHOR]

Due to institutional pressures faced by companies in their business environment, this paper investigates how sustainability certification adoption affects global suppliers' competences. Using multiple case studies, managers of 20 export‐oriented firms were interviewed, and secondary data were collected and analysed through inductive content analysis. Findings show normative and mimetic pressures as central for sustainability implementation by coffee suppliers. Additionally, we found that as a result of suppliers' sustainability improvement in their own operations, during the certification adoption, new competences emerged going beyond the triple bottom line dimensions, including improvements in aspects of institutional dimension of sustainability. In contrast to previous research in supply chain sustainability that emphasises coercive pressures, this paper demonstrates the role of normative and mimetic institutional pressures in developing new supplier competences. In doing so, we draw on the role of certification adoption in influencing global suppliers and hence sustainability throughout the supply chain. [ABSTRACT FROM AUTHOR]

This study examined the use and effectiveness of corporate sustainability practices (CSP) and the subsequent effect on a strategic outcome, competitive advantage. The new institutional sociology (NIS) theoretical framework was applied, informed by three different dimensions of institutional pressures (coercive, mimetic and normative). The study used a survey method and developed a seven‐dimensional model utilising the 52 principles provided by the OECD. It used a structural equation modelling in order to test the hypothesised associations between institutional pressures, CSP and competitive advantage to provide an institutional and contextualised perspectives from an emerging economy setting. The study found significant associations between the three types of institutional pressure with specific dimensions of CSP. The findings further revealed that specific CSP dimensions are diversely (positively and negatively) associated with competitive advantage. In line with the tenets of greenwashing, it highlighted the important role of institutional pressures from stakeholders (government, policy and customers) in implementing specific CSP. The findings inform managers, governments, foreign investors and other stakeholders in emerging economies about the influence of the institutional pressure in promoting the use of CSP and the effect of such practices on competitive advantage. From the context of an emerging economy, the study provides a unique empirical insight into the NIS perspective in promoting CSP and the subsequent impact on the strategic outcome, competitive advantage. [ABSTRACT FROM AUTHOR]

This study examines the role of financial performance and board characteristics on corporate social responsibility expenditure (CSR expenditure hereafter). The study is based on a natural experimental design where the Government of India made it legally mandatory for companies meeting certain criteria to spend at least 2% of their average profits in the preceding three financial years towards corporate social responsibility in the companies Act 2013. It examines the propensity of companies to spend towards corporate social responsibility over and above the legal mandate. This study analyze two different schools of thought in the field of corporate social responsibility varying in their assertions. The first school of thought asserts that firms engaged aggressively in CSR expenditure would be viewed positively by the customers/prospective customers. The second school of thought asserts that CSR expenditure reduces the profit of the firm that could have been used productively for asset acquisition, and business expansion. The first school of thought focuses on the good corporate citizenship hypothesis whereas the second school of thought focuses on the efficient utilization of scarce resources hypothesis. Using a dataset of companies listed on NSE 500 index, we found a positive and statistically significant relationship between CSR expenditure and accounting‐based firm performance but a negative relationship with market based firm performance. Size of the firm has a positive relationship with firm performance, alluding to the presence of "size" effect. Board size, board independence and cumulative attendance in board meetings exhibit mixed results with firm performance. Note: A slightly different version of this paper was presented in the 15th ICBF‐2022 conference held at IBS Hyderabad in the online mode. We would like to extend our heartfelt gratitude to all the reviewers and participants whose suggestions helped improve this article. [ABSTRACT FROM AUTHOR]

The integration of closed‐loop (CL) principles in supply chain management plays an important role for business and society. The CL supply chain can serve as a good example of an environment‐friendly and sustainable solution because it assumes waste reduction and further usage in production. Hence, the notion of the CL supply chain is premised on the design, control and operation of a system that creates extra value using the entire product life cycle and capture value recovery from various returns over time. In practice, a successful integration of CL principles depends on many contextual factors. This study aimed to identify the factors that support and discourage CL supply chain innovations in emerging markets. The study employed institutional theory as theoretical background and conducted an in‐depth case analysis of a Russian waste management company to present empirical evidence. The results showed that cooperation with an experienced and legitimate partner can drive the introduction of a CL initiative. Meanwhile, a low level of knowledge and trust might become a serious impediment. Thus, investment in knowledge dissemination and reputation building are crucial in an emerging market. [ABSTRACT FROM AUTHOR]

Firm orientation is a key factor in the implementation of sustainability in supply chains (SCs). Although firms recognize the need to define strategies for success, they often overlook whatever strategies they do develop in their decision‐making process. To address this gap, we argue that the strategy tripod comprising the industry‐based view (IBV), resource‐based view (RBV), and institutional‐based view (INSBV) can influence SC orientation toward sustainability. This paper describes an investigation into this strategy tripod's impact on the cashew industry's SC sustainability orientation. Multiple case studies were conducted by gathering data from various cashew SC stakeholders. A deductive content analysis showed that, despite the existing influences from the three legs of the strategy tripod, emphasis was placed on the firm perspective (i.e., RBV), which affected SC sustainability orientation in that the industry‐ (i.e., IBV) and institutional‐ (i.e., INSBV) level views received less consideration in the creation of SC strategies. This research contributes to theory and practice by shedding light on under‐explored relations between business strategy and SC sustainability. Our results show that firms should move from pressure responsiveness to strategy management to implement sustainability‐oriented initiatives. [ABSTRACT FROM AUTHOR]

This study investigates contract farming's impact on smallholders' profits and post‐harvest losses (PHLs). The study uses an endogenous switching regression (ESR) and farm‐level data from okra growers located in two different districts in India. Results show that okra growers under production contract (PC) or marketing contract (MC) have higher profits and PHLs than independent okra growers. However, under a low rejection‐rate scenario, growers under PC or MC have significantly lower PHLs and increased profits. The reduction in PHLs is not surprising, but the magnitude of the decrease shows that rejection rates are the major contributor to PHLs for contracted growers. Thus, contract farming with low rejection reduces PHLs and increases the profits of smallholders─a win‐win situation for growers and contracting firms. [ABSTRACT FROM AUTHOR]

Green bonds have emerged as a useful and powerful financial strategy to mitigate the financial problems of low‐carbon projects. India, which is a significant contributor to global warming, is facing serious challenges in increasing the market for and acceptability of green bonds. This study identified different challenging factors influencing the development of green bond markets in India and suggests suitable strategies to overcome these challenges. The key factors responsible for the development of green bond markets were identified by an extensive literature review and critical examination through experts' opinion. The best worst method (BWM) was used to rank challenges and strategies based on the priority (or weights) provided by the industry experts. The results indicate that the lack of clear risk profiling and legislative support involved in green bonds are the most crucial challenges for the Indian green bond market, followed by lack of market knowledge and lack of demand among investors for green bonds. Among the strategies, standardization emerged as the most notable to promote green bond in emerging economies. This study extends the literature by providing comprehensive insights into the challenges restricting the growth of the green bond market and develops a detailed understanding of the different strategies to overcome those challenges. This study also provides a roadmap for policymakers to restructure the green bond market and to help fulfill India's commitment to the Paris Agreement. [ABSTRACT FROM AUTHOR]

The study aims to examine how changes in the Kuwait audit market following abolition of mandated joint‐audit requirements impact audit reporting lag. Analysis tests whether joint‐/solo‐audit switches (following abolition mandated requirements) affected the level and change in audit reporting lag. The study also tests if the joint‐audit pair combination is a decisive factor in determining the (a) level and change in audit reporting lag and (b) audit quality following a switch to a solo‐audit. Data is collected from 132 Kuwait‐incorporated, nonfinancial firms listed continuously on the Boursa Kuwait from 2015 to 2019 that provides 660 firm‐year observations (528 firm‐years main empirical tests). Analysis indicates that the following abolition of mandated joint‐audit requirements, Kuwait listed firms swiftly switched to solo‐audits, generally leading to a significant increase in audit reporting lag. Tests indicate that audit reporting lag was significantly less for joint‐audits relative to solo‐audits. Additional results show a significant negative association between the quality of joint‐audit pair combinations and audit reporting lag. However, there is no significant association between audit reporting lag and the quality of solo‐audit type. Test results indicate mixed support for the perception that a joint‐audit pair combination significantly influences the level and change in audit reporting lag following the switch to a specific solo‐audit type. [ABSTRACT FROM AUTHOR]

In the 21st century, environmental problems are wreaking havoc, and sustainability is now of primary importance. Several external factors like population growth, industrialization, development, and overexploitation of natural resources play a crucial role in environmental degradation. Thus, the present study endeavors to explore the impact of price sensitivity, governments green interventions and green product availability on green buying intention through the lenses of the theory of planned behavior and the theory of consumption values. It also intends to examine the moderating effect of demographic factors on green buying intention. A cross‐sectional study was carried out. Responses were gathered through a self‐administered questionnaire‐based survey. The final data set of 708 respondents were subjected to structural equation modeling for hypothesis testing. Price sensitivity, government green interventions, and green product availability show negative and significant interaction effects. Perceived behavioral control shows a relatively more substantial impact on green buying intention. Indian consumers from the age group of 41–50 years relatively have higher intention toward green buying. Overall, gender does not reveal any different approaches to environmentally friendly products. Green marketers must focus on communicating the availability of green products to reduce perceived difficulty. [ABSTRACT FROM AUTHOR]

This study develops and tests arguments that improvisation is not universal in its benefits for the firm, but rather its multidimensional characteristics (action‐orientation, creativity, and spontaneity) hold differential performance effects. The study further examines whether these relationships are contingent upon individual agency and self‐efficacy. Drawing on primary data from industrial sales account managers in Ghana, the study finds that an increasing level of action‐orientation is associated with decreases in perceived sales performance and the decrease in performance is more pronounced under conditions of stronger sense of agency and self‐efficacy. Similarly, an increasing level of creativity is associated with decreases in perceived sales performance when agency is stronger. However, an increasing level of spontaneity is associated with increases in performance and this increase is strengthened under conditions of stronger sense of self‐efficacy. The study concludes that the effect of strategic improvisation on sales performance outcome within the context of an emerging economy (such as Ghana) is more nuanced than established improvisation literature suggests. [ABSTRACT FROM AUTHOR]

In the era of advanced technologies, information and communication technology (ICT) is the crucial component for developing Smart Cities. The topical studies indicate that ICT is primarily ignored to improve environmental sustainability in Smart Cities. The present research is an initial effort to develop a web‐based Environmental Decision Support System (EDSS) for Sustainable Smart Cities in India (SSCI). The application developed evaluates a city's performance on a set of 24 environmental indicators, which is broadly categorized into four domains: Solid Waste Management (SWM), Water Supply Management (WSM), Sewerage, Sanitation, and Stormwater Management (SSS), and Ambient Environment Condition (AEC). EDSS‐SSCI can serve as a valuable tool for policymakers in benchmarking a city's existing environmental scenario and grade it on a scale range of critically low, poor, fair, good, and excellent. The developed tool gives information about the city's performance in each domain along with three priority indicators which are decided on the basis of critical performance and higher weights given through the Delphi technique. This study presents the application to a real case study in Varanasi city, which identifies that its environmental sustainability smartness score exists in poor range and the focused attention for improvement is AEC domain. The study outcomes of the application developed will be beneficial for policymakers to define and drive the planning action towards developing Environmentally Sustainable Smart Cities in India. [ABSTRACT FROM AUTHOR]

The paradigmatic ascent of the new public management (NPM) doctrine in the 1980s was a joyful moment for advocates of market‐led public sector reforms. Four decades later, following disappointing results, the NPM is no longer dominant. Pending the emergence of a new leading paradigm, however, NPM‐inspired reforms are still being pursued in several nations worldwide. The central African nation of Gabon is one of those. For 8 years, it pursued an unsuccessful program of agencification of the state apparatus reportedly to create a "modern" public bureaucracy that would support economic modernization. This article provides the first scholarly analysis of the effects of this program. It shows that agencification fundamentally undermined the fragile foundations of the Gabonese administrative state. The magnitude of the damage to the state apparatus stands as the key finding of this study. This outcome further strengthens the case against an uncritical adoption of exogenously‐developed public sector reforms. [ABSTRACT FROM AUTHOR]

The idea that green banking disclosure leads to increased firm value has been rightly considered as over‐simplistic. This paper builds on key prior insights by investigating whether combining green disclosure with other contextual factor, such as non‐performing loans, provides additional insight into the complex green disclosure–firm value relationship in a regulatory setting where green law has recently been enacted for the banking industry. We present an analysis of seven years of data sourced from listed banks in Bangladesh (2008–2014), with data analysed using multiple regression. Our findings indicate that, while green disclosure has a positive effect on the overall firm value of banks, this positive effect is negatively moderated by banks' non‐performing loans. This research contributes to the knowledge by showing that green disclosure alone is insufficient for creating market value for banks. Additional contextual matters need attention to understand the impact of green disclosure in contributing to increased market value for banks. [ABSTRACT FROM AUTHOR]

Using cross‐sectional survey data from Indonesia from 2007 and 2014, this study estimates the effect of the number of available television channels during childhood on food consumption later in life with a focus on unhealthy food items. To address endogeneity of television signal strength, I exploit exogenous variations in television signal quality due to random diffractions caused by topography within a small area. Using an instrumental variables approach the results suggest that exposure to television during youth of the household head has a positive effect on household‐level snack and soft drink expenditures. At the individual level I document more frequent consumption of soft drinks. Additional analysis suggests that households shift their consumption basket at the expense of vegetables and staples. Finally, heterogeneous effects analysis imply that results are driven by young individuals who are younger than 24 years old. [ABSTRACT FROM AUTHOR]

This study examines the influence of working capital cycles on financial performance of cement industry of Nigeria with a sample of all the listed cement companies in the Nigerian Stock Exchange for the period 2007 to 2018. Correlation and regression analysis were used tools of analysis. Financial performance was proxy by return on assets and return on equity. The study show that a shorter inventory conversion period, account payable period and a longer account collection period enhances the return on asset while a shorter inventory conversion, account collection and account payable periods enhances the return on equity. [ABSTRACT FROM AUTHOR]

The purpose of this study is to identify a list of important social sustainable supply chain indicators and determine the cause and effect group from the food sector of an emerging economy of Pakistan. The Decision‐Making Trial and Evaluation Laboratory (DEMATEL) based methodology is introduced to aid the evaluation of these indicators. The results show that the "balance between work and life" is the topmost influential and cause indicator among the cause group indicators. Similarly, a "safe and healthy working environment" is the topmost effect indicator among the effect group indicators. These results will inform managers and policy makers in the food sector, especially from the emerging economies such as Pakistan to formulate strategies that could aid in advancing social sustainability and transitioning towards a truly sustainable supply chain. [ABSTRACT FROM AUTHOR]

This paper examines the effect of corporate governance (CG) reform on the window dressing of compliance in the context of an emerging economy, Bangladesh. In particular, this study investigates the true level of compliance concerning the three internal governance mechanisms, such as board independence, CEO duality and formation of audit committee before and after the reform enacts. By using content analysis of 194 non‐financial listed companies between 2007 and 2017, this study observes the extent of overstatements in compliance statements along with the nature of firms that are involved in it. After the regulatory shift in 2012, requiring more independent directors into the board and external certification of compliance statements, it was found that the extent of window dressing in compliance statements declined considerably over time. Moreover, government firms are found to make more proportionate overstatements compared to family and others (non‐family and foreign companies). counterparts. The fall in window dressing indicates that the companies' fabricating efforts in CG compliance are challenged by the regulatory change in a formal legal environment. [ABSTRACT FROM AUTHOR]

We examine the value relevance of the corporate social responsibility (CSR) expenditure of Bangladeshi banks from 2007–2014 in response to a regulatory directive on banking firms' engagement in CSR activities. We find a positive association between CSR expenditure and a firm's market value. Evidence of an inverse U‐shaped curvilinear association between CSR expenditure and market value suggests that the impact of CSR expenditure on a firm's market value has a certain limit. We also document that unexpected or abnormal components of CSR expenditure comprise value‐relevant information. Our study provides empirical evidence to support the value relevance of CSR expenditure as an explanation for why firms should invest in CSR and why they should inform various stakeholders about their CSR activities. [ABSTRACT FROM AUTHOR]

This study evaluates the franchising intensity of Mexican franchise chains. Supported by the theory of agency and the theory of signals, the influence of the brand recognition and the pricing strategy on the franchising intensity of the chain was evaluated. The brand recognition was evaluated using four indicators: experience, size, MFA (Mexican Franchise Association) affiliation, and origin. The pricing strategy was evaluated with three indicators: initial investment, entry fee, and royalties. On a sample of the 397 franchise systems operating in Mexico in 2016, the multiple linear regression technique was used to evaluate the influence of the brand recognition and the pricing strategy of the chain on the franchising intensity of the chain. This research confirms that the factors associated with brand recognition and initial investment influence the franchising intensity of the Mexican chains. [ABSTRACT FROM AUTHOR]

Sustainable development is a fundamental objective for guaranteeing the future of the planet. Taking into account the impact of emerging economies on the global economy and the scarcity of papers that have considered the effect of CSR initiatives on consumer behavior on those economies, it seems that further research on this issue is necessary. In particular, we analyze the extent to which CSR affects the connection and links of the consumer to the brand (i.e., self–brand connection, brand engagement). The main contribution of the paper to the field is the analysis of the interaction between CSR and branding in the context of an emerging economy. To that aim, and also in a novel way, we use the Stimuli–Organism–Response (SOR) model for a sample of more than 400 food and beverage consumers in Metropolitan Lima, Peru. Our results show that CSR effectively acts as a stimulus for consumers to identify and link to brands and that, in addition, these links generate buy‐back (i.e., loyalty) and recommendation behaviors (i.e., WOM) which, in turn, create a great commercial value for companies. This research also analyses how incomes and educational levels moderate the intensity of such links. For practical implications, global trends in managing CSR and branding may be useful, although some cross‐cultural and context‐specific adaptations are necessary. [ABSTRACT FROM AUTHOR]

Sustainability has become a fundamental concern in today' world—one which firms can no longer remain oblivious to. Through CSR, companies can shore up financial sustainability by acting in responsible, socially and environmentally sustainable ways. Yet the vast majority of literature addressing this phenomenon to date has focused almost exclusively on developed economies. The objective of the present study, therefore, is to contribute to filling this gap by analyzing the potential impact of CSR on sustainable financial value in the context of an emerging economy, Peru. To this end, we used the PLS technique to carry out quantitative analysis of data from a sample of over 200 managers at Peruvian companies. Our model is based on the premises of Social Capital Theory and Theory of Resources. Specifically, we analyze the extent to which CSR impacts corporate reputation, brand image and financial value in the context of an emerging economy. Our data indicate that—unlike more developed economies—in emerging economy contexts, direct relationships linking CSR and company financial value are lacking, though may occur by way of the path CSR > reputation > brand image > financial value. We also find that size moderates this path, while the sector of activity does not moderate the causal model. Hence, we suggest that both the cross‐cultural component and differing degrees of economic development and market maturity affect the perceived impact of CSR on financial value. The present study is pioneering in that it analyzes the impact of sustainability on financial value from the perspective of managers in an emerging economy context. Key theoretical and practical implications of our findings are provided in the final section of the paper. [ABSTRACT FROM AUTHOR]

Manufacturing firms in emerging economies face research and development (R&D) challenges that are quite different from firms in developed economies. Firms in emerging economies complement their internal R&D capabilities by accessing two forms of external knowledge: domestic knowledge from local partners and foreign knowledge from multinationals. Accessing these knowledge sources requires distinct organizational capabilities, and they may differently moderate the relationship between internal R&D investments on exploration and exploitation and innovation outcomes. Exploitation R&D investments refer to investments made on refining products and processes, while exploration R&D investments refer to investments made on designing new products and processes. We examine this issue by combining two waves of surveys from 155 manufacturing firms in Thailand. Results show that relative exploration (i.e., the ratio of R&D investments made toward exploration over sum of exploration and exploitation) exhibits an inverted U‐shaped relationship with the number of process and product innovations developed by the firm. This optimal mix, corresponding to the tipping point of an inverted U‐shaped curve, shifts toward a higher level of relative exploration (i.e., higher exploration and lower exploitation) when manufacturers have more access to domestic knowledge, and shifts toward a lower level of relative exploration (i.e., lower exploration and higher exploitation) when manufacturers have more access to foreign knowledge. Our findings are robust with similar effects on a firm's revenue generated from innovations. Taken together, these results demonstrate how external knowledge flows can moderate, in contrasting ways, the relationship between R&D portfolio mix and innovation outcomes. These findings also imply that inappropriately prioritizing R&D mix can lead to suboptimal innovation outcomes, offering further insights to both practicing managers and academics interested in emerging economy contexts. [ABSTRACT FROM AUTHOR]

In today's global marketplace, small‐ and medium‐sized enterprises (SMEs) are increasingly looking at internationalisation strategies to boost growth, profitability, and competitiveness. However, challenges, such as, sociocultural differences, political institutions, limited resources, competitive challenges, market threats, and economic and technological barriers all hinder SMEs from entering and competing favourably in the international markets. Considering the important link between lack of resources and internationalisation of SMEs, this study examined economic and technology‐related barriers of SMEs internationalisation from a neglected yet emerging market context in Bangladesh. To compare the relative importance of these two particular categories of barriers, this study developed and validated a partial least square‐based structural equation model (PLS‐SEM) with primary data gathered from questionnaires from 212 Bangladeshi SMEs. The findings of the paper suggest that technology‐related barriers seem slightly more influential than economic barriers. As the difference is very low, importance should be given to both types of barriers as found. Conceptually, this study extends this area of research by reframing economic and technology‐related barriers of internationalisation as a hierarchical reflective model within an emerging economy context. Empirically, it confirms that PLS‐SEM can be used to compare the relative importance of these two types of barriers. Practically, policy makers can give slightly more priorities on the technology‐related barriers where it is not possible to give equal importance to both because of limited resource and research neglect on developing economies. [ABSTRACT FROM AUTHOR]

This article examines the processes by which market orientation (MO) affects performance using a cross-level approach. The results of a survey of 2,754 employees from 180 firms in China show that organization-level MO culture leads to unit-level MO behavior, which improves employee-level job satisfaction and then product quality, which in turn fosters organizational performance. In particular, MO behavior fully mediates the effects of MO culture on employee satisfaction, product quality, and organizational performance. Leadership quality strengthens the effect of MO culture on unit-level MO behavior. Moreover, MO behavior enhances firm performance indirectly through employee job satisfaction and product quality. Copyright © 2008 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

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Sustainable supply chains (SSC) are an essential topic in emerging economies for achieving sustainable development. Because of their rapid economic growth, emerging economies are experiencing both sides of this development: the well‐being enhancement and the environmental impact. However, decision makers and practitioners do not have robust models for managing supply networks that consider the sustainability complexities. This study aims to provide a better understanding of SSC in emerging economies and proposes a generic framework to improve the decision‐making process. Based on a review of the literature, a decision framework for sustainability is proposed. A green sustainable decision concept is also discussed in the SSC literature. This study has implications for scholars, decision makers, and practitioners interested in advancing the SSC field based on an extension of the framework. [ABSTRACT FROM AUTHOR]

This study examines the effect of audit quality on earnings management and cost of equity capital of listed companies in India. Our results show that companies employing a high-quality auditor have a lower degree of earnings management and lower cost of equity capital. The results also show that companies belonging to business groups have a lower degree of earnings management and lower cost of equity capital than do stand-alone companies but that they benefit less from employing a high-quality auditor. Our results are based on a large sample of 7,303 firm-year observations on listed companies in India and are robust to alternative measures for our main variables - audit quality, earnings management, and cost of capital - and to tests for endogeneity and the impact of the global financial crisis (GFC). Given the distinctive and unique institutional features of the Indian market such as the dominant role of family business groups in the national economy, large market share of domestic audit firms, less litigious environment, and less effective professional accounting bodies in checking audit failure, our findings make a significant contribution to the literature on the role of audit quality as a corporate governance monitoring mechanism as reflected in the impact on earnings management and cost of equity capital. [ABSTRACT FROM AUTHOR]

Women managers face institutional and social barriers throughout their careers. In this research, we use networking and symbolic interactionism theories to explain how they network while negotiating these impediments in an emerging economy setting. Focus-group data revealed three themes. The women in our study, as predicted by networking theory, use networks to bolster career outcomes, although some also use non-influential networks or network ineffectively. Next, symbolic interactionism explains how expectations of, and personal reflections on, networking lead to a lack of confidence and feelings of guilt that can be career limiting. However, when women understand that their unique networking approach can be powerful, they gain social capital that enhances their leadership. Last, patriarchal cultures of emerging economy settings support stereotypical gender roles, leaving women conflicted between competition and mutual support, thus redefining the so-called Queen Bee phenomenon. We conclude by showing how women can use networking to enhance career and personal development. [ABSTRACT FROM AUTHOR]

Manuscript Type Empirical Research Question/Issue This paper investigates how the trading activities of foreign institutional investors (FIIs) affect the tunneling activities of controlling shareholders in an emerging economy (China). Research Findings/Insights We use an unbalanced panel dataset of 167 FIIs with investments in Chinese real estate firms during the period 2003 to 2011, which gives us 1006 firm-year observations in total. We find strong support for our hypothesis of an inverted U-shaped relationship between FII trading turnover and the extent of tunneling by controlling shareholders. Theoretical/Academic Implications In many emerging economies, the institutional environment for investor protection is weak. Powerful controlling shareholders may take the opportunity to extract private benefits via tunneling activities to the detriment of minority shareholders, and informed minority investors may also take advantage of less well-informed investors. There are thus multiple principal-principal agency conflicts. FIIs are a particularly important group of informed investors. On the one hand, large-scale aggressive trading by FIIs should drive stock prices to fundamentals, provide market discipline to management, and thus limit tunneling. On the other hand, FIIs may opt to exploit their private knowledge to gain trading profits at the expense of uninformed investors, and implicitly support tunneling. We highlight these potential effects, and demonstrate empirically an inverted U-shaped relationship between FII trading turnover and the extent of tunneling. Practitioner/Policy Implications Tunneling is a serious issue, particularly in emerging economies where the institutional arrangements for minority investor protection are often weak. FII involvement may enhance market discipline, but may also exacerbate the problem, so policymakers need to guard against potential adverse effects. An ownership cap on FII shareholdings is unlikely to be effective, but policymakers might strengthen QFII license revocation policies and issue more licenses to promote competition among FIIs. [ABSTRACT FROM AUTHOR]

Collaborative innovation has received the attention of management scholars for decades. The primary focus of our research is to explore the mechanisms that drive innovation catch-up of latecomers in an emerging economy through research and development collaborations (i.e., academic and industrial collaborations). Using a sample of 1,066 firms in a high-tech cluster in China, we find that collaborative innovation strategy has an inverse U-shaped effect on a firm's innovation performance. In addition, the relationship between collaborative innovation strategy and innovation performance is positively moderated by absorptive capacity © 2016 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

The radical political and economic reforms sweeping through former socialist countries during the last several decades have facilitated economic growth and urbanization. During this period of market reform and urbanization, citizen participation is greatly needed yet easily lost to other priorities. We employ stakeholder theory to examine whether citizen participation differs between large and small cities and between the poor and non-poor people in Vietnam. Using data from a sample of citizens in five centrally managed cities, we found that citizens in large cities and citizens that belong to 'unofficially poor' groups participate less. For policy makers, this implies that citizen participation should be of central importance in the management of current cities' expansions. In addition, the categorization of 'poor households' needs to be closely monitored to minimize the risk of de facto poor households being excluded from the group. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

A riverbank filtration (RBF) system was tested along the Kali River in rural part of the state of Karnataka in India. The polluted river and water from open wells served the local population as their principal irrigation water resource and some used it for drinking. Four RBF wells (up to 25 m deep) were installed. The mean hydraulic conductivity of the well field is 6.3 × 10-3 cm/s and, based on Darcy's law, the water travel time from the river to the principal RBF well (MW3) is 45.2 days. A mixing model based on dissolved silica concentrations indicated that, depending on the distance from the river and closeness to irrigated rice fields, approximately 27 to 73% of the well water originated from groundwater. Stable isotopic data indicates that a fraction of the water was drawn in from the nearby rice fields that were irrigated with river water. Relative to preexisting drinking water sources (Kali River and an open well), RBF well water showed lower concentration of dissolved metals (60.1% zinc, 27.8% cadmium, 83.9% lead, 75.5% copper, 100% chromium). This study demonstrates that RBF technology can produce high-quality water from low-quality surface water sources in a rural, tropical setting typical for many emerging economies. Further, in parts of the world where flood irrigation is common, RBF well water may draw in infiltrated irrigation water, which possibly alters its geochemical composition. A combination of more than one mixing model, silica together with stable isotopes, was shown to be useful explaining the origin of the RBF water at this study site. [ABSTRACT FROM AUTHOR]

The goals of the special issue are to: (1) publish work that builds knowledge about the nature of strategic and entrepreneurial activities in emerging economies, as well as their antecedents and consequences; and (2) develop a theoretical foundation for future research. In this introduction to the special issue, we initially review the existing literature and the major definitions used to date for emerging economies. We then develop a framework for the analysis of where strategic entrepreneurship in emerging economies now stands that, in turn, allows us to develop an understanding of where the field needs to move in the future. We subsequently identify how each article in this special issue informs our research questions as we develop an agenda for future research. Copyright © 2013 Strategic Management Society. [ABSTRACT FROM AUTHOR]

This study advances research on business planning by integrating and reconciling the institutional and strategic planning perspectives to explore the performance implications of both formal and informal business planning. We also examine how an entrepreneur's prior experience and social class shape the planning-performance relationship. Using a dataset of two waves of interviews with 313 founders in China, we found that both formal and informal business planning can benefit new ventures. Interestingly, as a unique contingency factor in the Chinese context, social class moderates only the link between formal planning and performance, whereas prior work experience moderates the effects of both formal and informal planning on performance. Copyright © 2013 Strategic Management Society. [ABSTRACT FROM AUTHOR]

Abstract: The main goal of this study is to investigate similarities and differences between impediments to enterprise system (ES) implementation in transition and developed economies. The adopted research approach incorporates the system lifecycle and seeks to examine how the difficulties change across the lifecycle phases. The research builds on the opinions of ES practitioners from Poland, a transition economy from Central and Eastern Europe. The main findings illustrate that difficulties experienced by ES adoptions in developed economies seem to concentrate on the project phase where implementation activities are carried out whereas in Polish companies problems tend to span through all the lifecycle phases. The results also suggest that in transition economies practitioners have to deal mostly with system‐related issues across the whole lifecycle. In developed economies, on the contrary, the shift from system‐related to business‐related problems throughout the system lifecycle is observed. [ABSTRACT FROM AUTHOR]

Professional salaries in Chile are here explained on the basis not only of traditional human capital variables but also of variables indicative of other cognitive and noncognitive skills. As might be expected, college entrance scores ( SAT), our measure of advanced cognitive skills, are found to impact strongly and nonlinearly on salaries. More surprisingly, ranking in one's high school graduation class raises one's salary 10 years later by the equivalent of one year of additional experience, suggesting that ranking stands for a more permanent noncognitive skill such as effort or self-discipline. As is typically found, women earn less than men, but, to our surprise, they also have lower asking salaries than men. [ABSTRACT FROM AUTHOR]

This article proposes a multidisciplinary and systemic approach to sustainable consumption that combines environmental considerations of energy usage from a life cycle perspective with a social understanding of consumption grounded in economic anthropology. The goal is to understand both consumption patterns and drivers, with a focus on household energy used for cooling in the metropolitan region of Manila in the Philippines. For different socioeconomic groups, cooling devices also deliver social and cultural services, such as socializing or adhering to Western fashion trends. This article argues for the need to address these aspects if reductions in household energy usage are to become possible. The limits of individual-choice theories are rendered apparent, with examples of how institutional and structural conditions lock in consumption patterns and restrict household choices. The notion that emerging economies might be able to 'leapfrog' over the environmental errors of more industrialized countries is also raised and critiqued. [ABSTRACT FROM AUTHOR]

The article presents abstracts on issues related to industrial ecology including metal recycling from waste electrical and electronic equipment, energy conservation, and life cycle assessment of urban wastewater reclamation and reuse alternatives.

We focus on the unique role of offshore OEM cooperation as a learning opportunity for local suppliers in the emerging economies. In particular, we conceptually argue and empirically confirm the links between learning intent, capability enhancement, governance mode, and overall innovativeness from the perspective of local suppliers in offshore OEM cooperation in China as well as the influence of local business culture within these links. We address two issues: (1) offshore OEM cooperation can be a unique opportunity for local suppliers with strong intent to learn from foreign buyers for capability enhancement and (2) the moderating effects of trust and contact as two distinctive governance modes. Addressing the two issues, we make two specific contributions to the research on inter-firm cooperation, both of which derive from the often-neglected theoretical lens of transaction value. Our general contribution lies in the extension of the transaction value perspective by specifying its dual tenets of inter-firm co-specialization and shared-trust as the central theme of inter-firm cooperation to complement the transaction cost economics and also contextualize the research on inter-firm cooperation in terms of different partners’ perspectives as well as different governance modes. [Copyright &y& Elsevier]