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The purpose of this research is to use the meta-analysis approach to analyze and combine the conflicting and inconsistent results obtained in past researches in the field of investigating the effects of the characteristics of companies on the audit report lag. Company characteristics include company size, company profitability, company age, Company loss and company leverage. In the research conducted in the past years, the audit report lag is known as the dependent variable and the specific characteristics of the companies as the independent variable. To achieve the research objectives from the approach [28] and also, to apply Cochran-Egger's Q tests, Including 77 studies including 27 domestic studies during the years 2013 to 2022 and 50 foreign studies during the years 2010 to 2023 were reviewed. The results indicate that there is no significant relationship between the size of the company and the independent audit report lag, But there is a negative relationship between profitability, age and the independent audit report lag, Also, there is a positive relationship between the leverage and the loss of the company with the audit report lag. [ABSTRACT FROM AUTHOR]

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

In 2015, at the United Nations forum, the 17 Sustainable Development Goals (SDGs) were approved to be met by 2030. This research aims to know what has been the behavior of productivity and efficiency of the manufacturing industry in the province of Pichincha, Ecuador, and the relationship with the achievement of some goals of the SDG 8, 9 and 12. The research methodology has a quantitative, non-experimental, and longitudinal approach. The information from the economic and financial reports of the manufacturing companies between 2010 and 2018 was processed. The values of efficiency were estimated using the data enveloping analysis technique. With the annual information, the evolution of productivity and efficiency was predicted until 2022. In the nine years, the results show that the productivity indicators and the number of companies that are related to goals 8.2 and 8.3 depend on the size of the companies and would maintain a constant trend until 2022. In addition, in the same period, it was shown that efficiency has had variations, and its trend is to remain constant until 2022, which shows that there will be no progress in meeting the targets 9.4, and 12.2 of the SDGs for this industrial sector. [ABSTRACT FROM AUTHOR]

Factors affecting stock returns have always been the focus of attention in financial markets. In this direction, Fama and French developed a three-factor asset pricing model (FF3F) using market, firm value and size factors. Then, investment and profitability factors were added to FF3F and a five-factor asset pricing model (FF5F) was developed. In the study, it is aimed to examine whether FF3F and FF5F are valid for the Turkish stock market and to reveal the differences between them. In this direction, as a result of the study in which 51 periods between 2008Q2 and 2020Q4 were examined, it was determined that FF3F was more valid than FF5F in the BIST-30 Index. [ABSTRACT FROM AUTHOR]

Previous studies have examined gender differences in environmental disclosure and corporate environmental responsibility, which are elements used to measure greenwashing. However, little attention has been given to the impact of firm leaders' gender on greenwashing. This study applies a logit econometric model to estimate the probability of being greenwashers for female-led firms compared to male-led firms, using a sample of 7,870 private firms from 28 countries. Our main results suggest that female-managed firms are not less likely to conduct greenwashing. This study also evaluates the impact on greenwashing of other determinants, such as access to finance, firm size, pollution degree, and region, and whether the gender gap in greenwashing is attributed to the primary drivers of greenwashing. Finally, we draw implications from this study on how to enhance the credibility of environmental initiatives for both female-led and male-led firms. [ABSTRACT FROM AUTHOR]

This study aims to investigate the effect of various financial factors that affect the consumer product sectors in the Indonesia Stock Exchange earnings persistence. The study employed purposive sampling, the data were collected from the 2011-2020 annual financial statements, and analyzed by utilizing panel data regression. In the consumer cyclical industry, firm size and accrual amount negatively influence earnings persistence. In contrast, the impact of fluctuating cash flow, volatile sales, and debt levels was negligible. In the non-cyclical consumer sector, cash flow volatility positively influenced earnings persistence. However, debt levels and accrual amounts had a negative influence, while sales volatility and firm size had no effect. These findings suggest that the determinants of earnings persistence vary by industry and that different financial factors may affect earnings persistence differently. The results may help Indonesian stakeholders in comprehending the factors that affect the sustainability of revenues in the consumer products industry. [ABSTRACT FROM AUTHOR]

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

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

Purpose: Considering the COVID-19 pandemic, digital transformation has taken on heightened importance. This paper aims to identify the key components of successful digital transformations. As the IT industry is at the forefront of digital transformation, the insights and outcomes of this study can be advantageous to other sectors. This can assist other organizations in expediting their transformation journey and reducing costs. Design/methodology/approach: The research was conducted through a quantitative survey, which underwent a rigorous development process. The questionnaire was designed with clear objectives, informed by a thorough review of existing literature and a qualitative survey. Initial questions were formulated and reviewed internally before being pretested with a small group. Based on feedback, the questions were refined, and clarifying hints were added. The final survey was conducted, and the resulting data were analyzed to identify essential components of digital transformations and relevant key performance indicators (KPIs) for measuring success. Findings: A digital transformation's leading and essential components are mindsets, communication, strategy, technology and people. This relates well to the meta-study. The result of the determined KPIs is also interesting. According to the survey, the degree of automation, efficiency gain, employer survey and financial numbers are identified as important factors. Moreover, the increasing number of companies embracing digital transformation is a promising trend, indicating the relevance of this study's content for the future and its potential to assist in successful transformation. Research limitations/implications: The respondents in Germany showed a distinct pattern, but the outcomes could vary if the questionnaire had a more equitable representation of regions and countries worldwide. A similar situation applies to company size, as many participants were from large enterprises. Analyzing medium and small businesses may alter the findings. It is debatable whether KPIs alone can effectively facilitate a successful digital transformation. Besides the components, tracking the transformation's outcome and progress thoroughly is crucial to ensure the process aligns from start to finish. Originality/value: Overall, these results provide very precise and valid points that are necessary for digital transformation. With the knowledge gained from the IT sector, companies from other industries can already take the first step and plan for a digital transformation. In summary, relevant building blocks for a digital transformation have been found with the help of the survey. [ABSTRACT FROM AUTHOR]

The aim of the research presented in this study was testing the correlation of knowledge and innovation culture and non-financial performance indicators (NFPIs), the predictive role of independent variables knowledge and innovation culture in NFPIs and differences between dependent and independent variables between micro, small and medium size companies. The study included 124 Serbian MSMEs, that voluntarily responded to 40 questions, presenting the research instrument. Statistical data analysis showed that a significant correlation exists between dependent and independent variables, that knowledge and innovation culture predict NFPIs with 33.4% and that there are differences in innovation culture and NFPIs, but not knowledge culture between companies grouped according to size. The conclusion of the study is that innovation and knowledge culture are of high importance for MSMEs, due to their predictive role in NFPIs, which are most often used, according to literature findings, for the assessment of their long-term success and sustainability. This study also revealed that the highest level of innovation culture and NFPIs is in micro companies in Serbia. [ABSTRACT FROM AUTHOR]

For several years, and especially during the health crisis caused by the Covid- 19 pandemic, digitalization has become one of the major challenges for all companies. In this regard, several research works have been carried out to understand the possible effects of digitalization on some areas of management, such as finance (Vasarhelyi et al. 2015, Pan and Seow 2016, etc.), work organization and jobs (Dorn, 2017, etc.), Human resources (Audrin et Davoine, 2017), etc. Unfortunately, this type of work is still absent in the field of management control (Quatrone 2016; Möller et al. 2020). In this context, this article, based on a survey carried out among forty-two Moroccan companies, aims to answer two main questions. First, how can we judge the degree of management control digitalization in the studied companies? Second, does the firm size impact this digitalization? The results obtained show that the management control digitalization is considered to be "moderate" in studied companies. It has also been shown that firm size does not have a statistically significant impact on this digitalization. [ABSTRACT FROM AUTHOR]

This study uses Taiwan stock market-listed company data to analyze relationships between managerial compensation, corporate risk, and operating efficiency. This study focuses on three aspects. First, we examined how different types of corporate risk can relate differently to top manager salaries. Second, we investigated whether management efficiency is associated with managerial compensation in Taiwan. Last, we explored how firm size moderates the relationships between top-manager salaries, corporate risk, and operating efficiency. Our findings reveal that credit risk is remarkably different from other risks related to managerial compensation. Moreover, the moderating effect of firm size varies across various factors. Furthermore, most estimated results supported all our hypotheses. We provided subsequent explanations for the outcomes. The particular phenomenon found in this study also gave implications for the contract design of managerial compensation. [ABSTRACT FROM AUTHOR]

Purpose: This paper identifies the motivations for small- and medium-sized enterprises (SMEs) when they undertake greenfield foreign direct investment (FDI) into an emerging market. It elucidates the factors that influence SMEs to choose a fully equity-based investment despite the significant risks and commitments involved with greenfield FDI. Design/methodology/approach: This exploratory study uses case study research based on interviews conducted with managers and founders of 16 German SMEs that have established greenfield operations in Malaysia. Findings: Building upon the transaction cost theory, five major motivations are identified that drive greenfield choice among the SMEs. The results imply that SME motivation for greenfield is derived from a combination of strategic asset-seeking determinants and culturally driven reactions to external and behavioral uncertainty. The results also ascertain that these motivations have less to do with the size and revenue of the firm, but hinge on the SMEs' inner antecedents such as asset specificity, international experience, proprietary knowledge and ownership mode. Originality/value: The findings clarify the literature on equity-based entry mode for SMEs in emerging economies, enabling a closer understanding of the organizational and dynamic experiences and an overview of the auxiliary competencies these companies have to compete in the global market. The conceptual insights and empirical evidence derived from this study contribute to the intellectual discourse and managerial implications in the field of internationalization strategies of SMEs, particularly from developed countries into emerging markets via greenfield FDI. [ABSTRACT FROM AUTHOR]

This paper examines the determinants of firm-level growth based on three eastern European countries – the Czech Republic, Hungary, and Poland. We investigate whether there exist common firm-level characteristics that play a significant role in determining firm-level performance across the three countries, and whether development in financial markets can facilitate the growth of individual firms, particularly for firms that require external financing (borrowing). Our empirical analysis shows that in the case of Poland, firm-level characteristics, such as firm age and firm size, turn out to be significant, and that the role of these factors on the sales growth of firms is quite consistent with the findings in the existing literature. The same firm-level characteristics do not appear to be significant in the cases of Czechia and Hungary, which suggests that these factors play a different role in the firm-level growth of these countries. However, a firm's access to external financing matters for the determining the firm's growth and its development of financial markets, which enables the firm to have easier access to external sources of financing, thereby especially facilitating the growth of the individual firm that might need external funds. Our findings provide additional empirical evidence on the existing literature that emphasizes the positive impact of financial development on the individual firms' growth based on a cross-country analysis. [ABSTRACT FROM AUTHOR]

This study examines the firm level drivers of employment growth in East Africa in which they are categorized as firm specific, entrepreneur specific and business environment characteristics. Using a cross-sectional World Bank Enterprise survey dataset and pooled Ordinary Least Squares estimation (OLS), the results indicate that; (1) employment growth is significantly associated with firm specific characteristics (employment growth is positively related to firm size and innovation while it is negatively associated with the age of the firm), (2) a weak business environment characterized by electricity outages, informal payments and poor court system undermines the firm's ability to contribute to employment growth while strong business environment such as access to finance is positively associated with employment growth (3) employment growth is also positively influenced by managerial experience. Policy recommendations are suggested. [ABSTRACT FROM AUTHOR]

The remote work model had been functioning before the outbreak of the COVID-19 pandemic in the economic space regardless of the size of enterprises, however, its largest intensity was observed in large enterprises. Yet, its application scale was incomparably lower than the condition that was necessitated by the introduction of epidemiological isolation. The need for many employees to immediately switch to this model of working increased the likelihood of potential problems related to a proper level of digital competencies in utilising remote work tools. The aim of the article is to identify changes that have taken place in large enterprises as part of the use of tools for remote work at the time of COVID-19 pandemic. The authors refer to digital competencies of the executive staff in the scope of remote work and their experiences with the functioning of tools for this type of work. These issues have been analysed for the time before the pandemic and for the period of its duration. The authors have presented the results of the research conducted in Poland in 2022. They demonstrate that a vast majority of the executive staff in large enterprises worked remotely during the pandemic. A progress in the scope of digital competencies among the survey respondents has been recorded, which was driven by the necessity to move work into the remote space, and organising proper training in the enterprises. A significant group of the respondents indicates willingness to work in a hybrid mode when the pandemic finishes. [ABSTRACT FROM AUTHOR]

The changing environment brings new challenges to businesses, while the development of ICT and digital innovations offer new opportunities for growth. The purpose of the article is to determine whether high uncertainty conditions in the environment make it difficult for companies to undertake innovative actions and whether companies change their innovation strategies. The situation of high environmental uncertainty during the COVID-19 pandemic (2020-2021) was adopted. The conducted research confirmed changes in digital innovation strategies in the majority of cases studied. The research showed that the tendency of companies to change their innovation strategy depends on the size of the company and the type of activity, but not on the years of operation and market scope. It was found that the innovation strategies of most companies were based on the use of modern information technologies. In this case, there is a correlation with the size of the company and market reach. The influence of variables such as the length of the company's presence on the market and the type of business activity was not confirmed. The most commonly implemented digital innovations were related to internet technologies. [ABSTRACT FROM AUTHOR]

Over the past several decades, the global economy has undergone a significant transformation, primarily driven by advancements in automation and robotics. This paper aims to examine recent progress in manufacturing automation and shed light on potential challenges that contribute to the observed disparities in automation adoption. Despite the limitations imposed by a lack of comprehensive statistical data, this analysis has yielded several significant insights. These include insufficient investment in automation, variations in enterprise size structure, and ongoing disparities in labor costs and productivity. Of these factors, the latter appears to be the primary obstacle to rapid industrial automation, as it encourages the reshoring of manufacturing operations to home countries and offshoring to medium- and low-income economies. [ABSTRACT FROM AUTHOR]

Cloud computing is a solution of information systems that are more commonly used in the functioning and management of enterprises. The use of solutions offered as part of cloud computing facilitates and accelerates the implementation of business processes in the enterprise and affects how the main assumptions of the sustainable development concept are implemented. While initially, the enterprise's primary goal in cloud computing was its positive impact in terms of technology and economic aspects, nowadays, cloud computing solutions are more often considered in the context of sustainable development. The ecologic and social benefits of using cloud computing are often indicated. The scale and assessment of these benefits may differ depending on the size of the enterprise. Thus, this article's primary purpose is to identify significant differences in the assessment of the benefits achieved in terms of sustainable development related to the use of cloud computing in different sized enterprise. [ABSTRACT FROM AUTHOR]

The problem of inland freight planning from the perspective of a medium size transport company operating in the EU market is studied. The authors embark on a path to put Information Technologies to work in order to reduce manual overhead and facilitate decision-making within this domain by algorithmically approximating the potential profitability of freight offers based on multiple criteria and shortlisting the most promising offers. Following the Design Science Research approach, the Proof of Concept of IT-enabled decision support solution for logistics companies is delivered and validated. Several strategies for choosing an offer among many for a truck with a given spatio-temporal location are investigated and compared. [ABSTRACT FROM AUTHOR]

Women entrepreneurship development is an important part of human resource development. This paper focuses on exploring the barriers and motivations of women entrepreneurs. The study is based on both primary and secondary data. The primary data was collected through the well-structured questionnaire and distributed among the 100 women entrepreneurs. Surveys were carried in the area of New Delhi (India). The research found women entrepreneurs having primary responsibility for children, home and older dependent family members, poverty and illiteracy, borrowing loan, lack of finance, business size, age, lack of knowledge and experienced in marketing of products, poor managerial and technical skills, discriminations, multiple responsibilities, demographic factors, social, cultural and religious obstacles etc. The research has also identified that many women-owned enterprises were formed in the informal or unorganized sector. These new firms were concentrated in industries where women entrepreneurs have been active by tradition and the opening was mostly started among household-based enterprises. It is also described that there are various factors for success of women entrepreneurship like-education, hard work, skilled women, sincerity and honesty, best quality of product, and dedication have been recognized as the most significant factors. [ABSTRACT FROM AUTHOR]

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

Purpose: To better understand the role of creativity and its impact on business, IBM Institute for Business Value (IBM IBV) surveyed 400 United States-based CEOs across 11 industries in 2022. Design/methodology/approach: Average organization size of these businesses was a little over $26 billion in annual revenue. The survey covered a range of questions on the role and impact of creativity in their organization. Then survey data was analyzed to reveal the key drivers and success factors of creativity. Findings: When the CEOs were asked to describe an organizational structure most conducive to perpetuating creativity, as many as one quarter of them identified a hierarchical structure – a structure typically considered antithetical to free-flowing creativity, and one highly susceptible to micro-management and bureaucracy. Practical implications: CEOs identify fear of failure as the most significant barrier to creativity. Originality/value: Tapping into ingenuity and creativity has been critical to navigating recent market disruption – and going forward, effective creativity is becoming even more central to business success. Study identifies best practices of leading organizations that believe that. creativity is not a skill solely for a few selected innovators and makers, it's a quality required across the workforce. [ABSTRACT FROM AUTHOR]

Introduction/Main Objectives: This research aims to analyze the effect of internal factors, especially foreign debt, liquidity, and firm size, and also external factors, especially the exchange rate, on hedging decisions, with profitability as the control variable. Background Problems: Exchange rates are always affected by uncertainty. To ensure a company does not suffer losses, it will implement risk management, such as hedging. This is in accordance with the recommendation of the Ministry of SOEs to undertake hedging in the context of risk management. But in reality, not all state-owned enterprises do this. Novelty: This research adds profitability as a control variable, because this research does not involve the profit of the company, and focuses on how the company minimizes the risk of potential losses. Research Methods: The research used quantitative data, which is secondary data taken from the annual financial reports of state-owned enterprises listed on the Indonesia Stock Exchange for the 2016 to 2020 period that are accessed through the website www.idx.co.id and the annual reports of state-owned enterprises that are accessed through their official websites. Data analysis techniques that were used are descriptive statistics test, multicollinearity test, and logistic regression test. Finding/Results: The results show a significant effect from foreign debt and firm size on the hedging decisions of state-owned enterprises in Indonesia, while liquidity and the exchange rate did not show a significant effect on the hedging decisions of state-owned enterprises in Indonesia. Conclusion: This research shows that state-owned enterprises in Indonesia focus more on their foreign debt and firm size, than their liquidity or the exchange rate, in their decision to hedge. [ABSTRACT FROM AUTHOR]

This study aims to investigate the impact of corporate governance on working capital management, which has been relatively overlooked despite its significance on corporate performance. Using the Ordinary Least Square regression model, a model was developed to assess the relationship between dependent and independent variables. Secondary data from the annual reports of 42 non-financial firms listed on the Frankfort and Oslo stock exchanges from 2017 to 2021 were collected. The dependent variable, working capital management, is indicated by cash holding, while the independent variable, corporate governance, is measured through five proxies: board meeting, board remuneration, the board size, CEO remuneration, and CEO tenure. Leverage and firm size are involved as control variables. The findings revealed that board meetings, board remuneration, CEO remuneration, and CEO tenure exhibit a positive and significant relationship with working capital management. However, board size demonstrated a negative but insignificant relationship. Additionally, the study showed that leverage has a negative relationship, while firm size has a positive relationship with working capital management. In conclusion, the study suggests that future research should focus on the financial sector to conduct comparative analyses with other sectors. [ABSTRACT FROM AUTHOR]

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

Over 8,000,000 jobs were lost in the Great Recession, creating widespread economic hardship. This paper documents a novel and robust empirical regularity that highly concentrated local labour markets experienced larger employment declines during the Great Recession. Through setting up a model with heterogeneous firms facing idiosyncratic productivity shocks, I show that firm size distribution summarised by the Herfindahl-Hirschman index plays a crucial role in the reallocation of workers, and it magnifies negative idiosyncratic shocks and attenuates positive ones. I undertake a series of empirical tests to rule out alternative explanations, and show that large employment losses in concentrated labour markets are not driven by highly concentrated industry locations being hit harder during the Great Recession, having smaller labour markets or higher firm leverage ratios. The effect of concentration level is larger in sectors with higher labour supply elasticity, or a higher variance of productivity shocks, and rises during the Great Recession compared to other periods, consistent with my model's predictions. [ABSTRACT FROM AUTHOR]

Purpose: By combining structural contingency theory and socio-emotional wealth (SEW) theory, this study aims to identify the organizational determinants of collective performance-related pay (PRP) adoption by examining the interplay between a firm's ownership characteristics (i.e. family or non-family ownership) and other organizational characteristics. Design/methodology/approach: This study adopts a quantitative approach, conducting empirical analyses of a longitudinal dataset of 4,222 Italian companies in the manufacturing sector for 2009–2017. The probability of adopting collective PRP schemes is estimated using the average marginal effects of the probit and linear probability models (LPMs). Findings: The results show that family firms are less likely to adopt collective PRP schemes than non-family firms. Moreover, ceteris paribus, firm characteristics such as size, age and past (firm and labor) productivity are important determinants of firms' adoption of collective incentive pay; however, the significance and magnitude of their effects vary depending on a firm's ownership structure. Originality/value: This analysis has two major elements of novelty. First, it increases the knowledge of how organizational contingencies differ in family versus non-family contexts regarding pay decisions. Second, it brings new theoretical perspectives to the pay debate by combining structural contingency theory and SEW theory, thus developing new and fertile theoretical grounds for advancing our understanding of the pay determinants. To the best of authors' knowledge, this is one of the first (if any) studies to shed light on collective PRP in family and non-family firms. [ABSTRACT FROM AUTHOR]

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

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

Countries in transition should encourage internal processes to improve management in all business segments. One of the ways to improve this is the introduction of internal control mechanisms. This way of dealing with internal factors requires a new organization, resources necessary to cover the basic and extraordinary costs of introducing internal control mechanisms, as well as additional training of employees in those entities. This paper deals with the application of three forms of internal control mechanisms, i.e. internal audit, internal control and the combination of these two forms with financial management and control. The intention was to discover the synergistic effects in large and medium-sized agricultural enterprises arising from the use of internal control factors. The obtained results are far more positive than expected, especially those related to the generation of income in terms of the size of the company and the established internal control mechanism. [ABSTRACT FROM AUTHOR]

Considering the relevance of the agricultural sectors for the European countries' development, but also the volatile features of agriculture, with unforeseen risks induced by climate, ensuring durable economic progress is foremost for the companies. This paper aims to assess the associations of the key parties in corporate governance (directors, managers, advisers, and shareholders), employees and the independence level with the main outcomes and capacity/size of the European companies operating in agriculture, fishing, and aquaculture activities. Using a newly compiled and complex dataset of 3 184 active companies from Europe, provided by the ORBIS database, advanced modelling approaches were employed, based on the robust regression (RREG) and Gaussian Graphical Model (GGM). The main findings emphasised that: directors, managers, and advisors had a strong positive influence on the firms' size, boosting their turnover, and the shareholders' funds; advisors induced positive connections with the companies' liquidity; the number of employees exerted positive impacts on the firms' size and outcomes of these companies; the independence level exerted a negative impact on the firms' size and outcomes. Finally, specific measures must be addressed to primarily reconsider the number of directors and managers and the shareholders' participation in the ownership of these companies due to their unfavourable exerted effects. [ABSTRACT FROM AUTHOR]

Bangladesh is a pharmemerging country due to its large population. The pharmaceutical industry is one of the priority industries for revenue earning of the government of Bangladesh, and the industry contributes 1.0% of the gross domestic product of the country. The industry value was TK 265.95 billion in MAT 2Q, 2022. The IMS provides pharma industry value based on estimation, but it may differ from the true industry value. The study presents the pharma industry size in Bangladesh and evaluates the difference between the IMS and the true market value of the industry by an appropriate statistical test. The study collects 12 quarters, QTR 3Q, 2019 to QTR 2Q, 2022, sales data of ACI, one of the leading manufacturers, from both IMS and the company. The study finds, on average, quarterly, there is a 23.8% sales difference between the true sales value and IMS sales value in Bangladesh. The study chooses the Mann-Whitney-Wilcoxon U (MWWU) test to evaluate the difference between the IMS sales value and the true sales value of a company. The difference between the IMS sales value and the true sales value is statistically significant as the P of the MWWU test is 0.0001743 < 0.01. The limitation of this study is drawing a sales gap issue based on the analysis of a company. For a more meaningful conclusion, further study is required involving others manufacturers. However, This study might be helpful for different national and international bodies such as industry practitioners, researchers, and other stakeholders interested in entering the pharma industry of Bangladesh for business, research, or other purposes. [ABSTRACT FROM AUTHOR]

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

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

Investment projects in the construction industry usually require a large amount of capital. Most businesses need more capital to implement the investment project; therefore, they use borrowed capital and mobilise capital from investors. Understanding the determinants of excessively low or high leverage among construction companies provides essential information in identifying these companies' financial strategies. This research observes the sample of 53 listed construction entities on the Hanoi Stock Exchange (HNX) in Vietnam, with the 2018-2022 period, to find out what factors impact financial leverage. Statistical data is collected and aggregated from enterprises' audited consolidated financial statements. The author uses financial leverage as a dependent variable, while independent variables include asset tangibility, growth opportunities, profitability, liquidity, firm size and firm age. In addition, GDP and inflation rate are considered as control variables. The author uses OLS, FEM, REM and GLS models, modified Wald test and Wooldridge test to determine the relationship between independent and dependent variables. The research results show that asset tangibility, profitability, liquidity and firm size are statistically significant in explaining the firm's financial leverage change. In contrast, other variables such as growth opportunities, firm age, GDP and inflation were not correlated with the dependence variables. In particular, asset tangibility is the most significant determinant for financial leverage, which means those charged with governance of construction firms should consider carefully before deciding to acquire fixed assets. Based on research findings, the author suggests recommendations for managing financial leverage in construction companies in Vietnam. However, the results of this study will also be helpful for construction companies in other countries. [ABSTRACT FROM AUTHOR]

Digital technologies have become increasingly prevalent in the tourism sector. However, limited attention has been given to their adoption by women-owned tourism micro-enterprises. This study explores the enabling and limiting conditions of adopting digital technologies by women-owned tourism micro-enterprises in a South African context. Grounded within an integrated framework combining the Technology Acceptance Model and the Technology-Organisation-Environment model, the study adopted a qualitative grounded theory approach and used in-depth interviews to collect data from 20 female owner-managers of tourism micro-enterprises. The key findings of the study show that the enabling and limiting conditions of adopting digital technologies by these enterprises are influenced by a set of factors, including compatibility, firm size, financial resources, government support, information communication and technology infrastructure, security concerns, COVID-19, perceived ease of use, and perceived usefulness of digital technologies. As such, these enterprises require support tailored to their digitalisation maturity level and access to key resources such as finance and human capital. Overall, this study contributes to a deeper understanding of the complex and dynamic process of adopting digital technologies by women-owned tourism micro-enterprises. [ABSTRACT FROM AUTHOR]

The aim of this study is to analyse how firms combining the use of all types of innovation during a certain period differ from other firms. Zhang (2022) argues that side-by-side innovation practices are understudied in the innovation literature. The paper is based on the OECD typology of innovation (product, process, marketing and organisational). This study offers a new and timely perspective on the innovation literature by examining firms' side-by-side innovation practices, which are understudied in the innovation literature. The paper is based on data from 387 Finnish SMEs and analyses the factors related to the innovativeness of SMEs. The research provides comprehensive information on how different factors contribute to the emergence of SME innovation practices and create competitive combinations of their resources in the form of side-by-side implementation of different types of innovation. [ABSTRACT FROM AUTHOR]

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

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

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

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

This paper analyzes the impact of knowledge spillovers on firm performance measured through total sales, the percentage of innovative sales and a categorical variable that classifies firms into three different groups depending on the stage of their sales growth evolution: upturn, downturn, or transition. We specifically focus on whether there are asymmetric spillover effects depending on the intermediary role of firms' technological relatedness, which we proxy by the use of external sources of knowledge. Using data on 5900 Spanish firms for the period 2004–2016, we find that spillover effects from intra-sector and upstream knowledge pools are—in general—positive, although with some differences depending on the measure of firm performance and on the moderating role of technological networking. Our results also suggest the presence of a "business stealing effect" in environments with a high proportion of knowledge-based gross added value. Furthermore, we find that spillover effects are asymmetric depending on the firm's size and intensity of R&D employment. Knowledge spillovers seem to play a more significant role in the case of SMEs than in large companies, and firms with high intensities of R&D employment benefit more from upstream spillovers and less from horizontal spillovers than firms with low intensities. [ABSTRACT FROM AUTHOR]

Small and medium-sized enterprises are seen as a source of growth, new ideas, and the competitiveness of the economy, as they can flexibly respond to changing conditions through their rapid launch and activities; on the other hand, these entities are associated with a relatively high failure rate. The purpose of the paper is to analyse the overall dynamics in the construction industry in Slovakia with the focus on the failure rate of companies due to bankruptcy, and to identify the reasons for and specifics of bankruptcy in the construction sector in Slovakia. A Slovak dataset of critical events, used for the identification of bankrupt companies, was paired with a dataset containing the financial statements of 162 companies which went bankrupt in the Slovak construction sector during the period of 2016-2020 and whose bankruptcy proceedings have been completed. Data from the Statistical Office of the Slovak Republic were presented to provide a deeper understanding of the size of the industry and its development over time. Selected reasons for bankruptcy (overindebtedness, insolvency, age of the company, and region) were analysed by means of descriptive statistics and correlations to the duration of bankruptcies. The research confirmed that simple signals indicating potential financial problems could be captured well in advance of bankruptcy. The majority of bankrupt entities reacted to such signals and prepared for bankruptcy, while the regional aspect was insignificant. The results of the research constitute a contribution to the identification of the specific reasons that lead to bankruptcy among companies in the construction industry in Slovakia. [ABSTRACT FROM AUTHOR]

The main purpose of the paper is to identify the determinants of working capital management in the SME sector at the company, industry and country levels. The research is based on the statistical analysis of the financial data of 8,516 SMEs from Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia in the years 2012-2020. The influence of firm-specific factors on variables describing working capital management has been identified: company size exerts a positive impact, while company growth, tangibility, leverage, and cash flow have a negative effect. In terms of the influence of industry-specific factors, the average values characterising working capital management in a given industry have a positive impact. Finally, regarding country-specific factors, the positive effects of the GDP growth and unemployment level have also been confirmed. The study contributes to the literature by providing strong evidence of (i) firms in an industry using similar working capital management policies and (ii) industry-specific factors being more influential than country-specific (mainly macroeconomic) determinants of working capital management. In this regard, the study highlights new industry- and country-specific factors and also confirms the influence of previously known determinants at the firm level. [ABSTRACT FROM AUTHOR]

This study investigates how small corporations in rural areas of Japan obtained funding from the 1880 s through the 1910s and reassesses the role of market-based financing for Japanese small and medium-sized enterprises (SMEs). While most previous literature shows that Japan effectively used bank-based financing for SMEs, this study provides evidence that corporations of various sizes, including small ones in rural areas, arranged funding through the stock and bond markets during Japan's early industrialisation period. While this type of financing arrangement helped promote early industrialisation, it also strengthened the dual economy during full-fledged industrialisation. [ABSTRACT FROM AUTHOR]

Background: In the European Union (EU), there are over half a million medical devices, varying from pacemakers to software. Medical devices play an important role in health care as they are used in diagnosis, prevention, monitoring, prediction, prognosis, treatment, or to alleviate disease. Medical devices are regulated in the EU by the Medical Device Regulation (MDR), which came into force on 25 April 2017 and into application on 26 May 2021. The demand for regulation arose from the need to establish a transparent, robust, predictable, and sustainable regulatory framework. This study aims to examine how the managers and regulatory professionals in health technology enterprises perceived the application of the MDR and what were their information needs regarding the MDR. Methods: A link to an online questionnaire was sent to 405 managers and regulatory professionals representing health technology enterprises in Finland. The study included 74 respondents. Descriptive statistics were used to describe and summarise the characteristics of the dataset. Results: Information related to the MDR was fragmented and the necessary information was sought from multiple information sources, while the Finnish Medicines Agency (Fimea) was regarded as the most important source of information and training provider. To some extent, the managers and regulatory professionals expressed their dissatisfaction with the performance of Fimea. The managers and regulatory professionals were not very familiar with the ICT systems provided by the EU. The size of an enterprise affected how many medical devices it manufactures and generally affected the views about the MDR. Conclusions: The managers and regulatory professionals understood the role of the MDR regarding the safety and transparency of medical devices. The available information regarding the MDR did not properly fit the needs of users and there seemed to be a gap in information quality. The managers and regulatory professionals had some difficulties understanding the available information. Based on our findings, we believe it is paramount to evaluate the challenges faced by Fimea and how it could improve its performance. To some extent, the MDR is regarded as a burden for smaller enterprises. It is important to highlight the benefits of ICT systems and to develop them to better meet the information needs of enterprises. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to study the impact of the Ambient Air Quality Standard (2012) on the green innovation of Chinese firms in polluting industries. The analysis features "leverage effect" of Porter Hypothesis imposed by environmental regulations and exploits exogenous variations caused by the promulgation of the new policy. Based on the exogenous variations, this paper uses the time varying PSM-DID method. The findings of this study suggest that the implementation of the new policy improves firms' green innovation. Increments in R&D investment and environmental protection investment are channels through which the new standard positively affects firms' green innovation. The cross-sectional heterogeneity analysis exhibits that the effect of this environmental regulation is stronger for firms with bigger size and lower financial constraints. The contribution and significance of this study are as follows: our study enriches understanding of the impact of environmental regulation on firms' green innovation by empirically confirming the influencing channels of the impact of environmental regulations on green innovation. In addition, this paper contributes to the firms' green innovation literature by empirically validating the role of corporate characteristics in moderating the effect of environmental regulations. [ABSTRACT FROM AUTHOR]