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We investigate the effects of the use of different sources of investment leverage, i.e. securities with embedded leverage and traditional margin accounts, on the portfolio performance of retail investors, recognizing that these effects may be conditional on investor attention. We find that investors who trade on margin underperform those who do not have margin accounts, but we also find that investors who trade securities with embedded leverage show an even poorer performance than investors who trade on margin. The negative effect of leverage usage decreases with greater investor attention, measured by portfolio monitoring frequency. These results suggest that more attentive investors gain more from the use of investment leverage.

We investigate the impact of asymmetric information on the investment decisions of firms and analyze the effect of asymmetric information on the over-investment and under-investment of firms. Further, we examine the effect of leverage on the investment behavior of firms and check this association in the presence of asymmetric information. We extract data from DataStream of 280 non-financial firms listed at Pakistan Stock Exchange over the period of 2000 to 2018. We apply the Fixed Effect Model to analyze the data and System Generalized Method of Moments to check the robustness of the results. We find that asymmetric information negatively affects the investment decisions of firms. Due to asymmetric information investment decreases rapidly as compared to increase in investment. Further, leverage is an important determinant of investment decisions and the presence of asymmetric information increases the adverse effect of leverage on the investment of firms.

The DoD’s artificial intelligence (AI) strategy requires the delivery of transformative and disruptive capabilities that impact the “character of the future battlefield and the pace of threats” that US forces must be prepared to handle. Candidate frameworks must also address key mission areas while enabling partnerships with the private sector, academia, and global allies. To meet these challenges, a flexible, cost-effective, and scalable computing infrastructure that incorporates cutting edge technologies and complies with stringent information assurance requirements is necessary. The DoD AI strategy mandates the agile employment of innovative AI capabilities that “rapidly and iteratively” execute experimentation with new operating concepts, and leverage lessons learned in subsequent experiments. Using cloud computing, we present a flexible approach to solve complex systems problems. Promoting “rapid experimentation” and collaboration on problems such as recursive algorithm implementation, deep learning, and inference in neural networks has enabled inherent advantages over existing computing frameworks. Leveraging the cloud to implement shared responsibility security models, serverless architectures, and high-performance virtual machines, aspects of the AI lifecycle including build, deploy, and monitor have resulted in an adaptable and scalable computing framework that is not only disruptive to the current computing paradigm but also promotes enhanced and productive collaboration.

As cities debate how to regulate Airbnb and other home-sharing services, we study the impacts of home sharing on local residential real estate markets. By accommodating transient travelers with short-term rental properties, home-sharing platforms have evolved as a major alternative channel that attracts the growing supply of residential properties. However, on the demand side of local residential markets, home-sharing platforms are not a viable option for residents. To demonstrate this dynamic between home sharing and local residential markets, we leverage a unique quasi-experiment on Airbnb—a platform policy that caps the number of properties a host can manage in a city—and find that the policy reduced rents (in the long-term rental markets) and home values (in the for-sale housing markets) by about 3% and did not affect the price-to-rent ratio. Consistent with the conjecture, we find that the policy impacts can be attributed to increased supply in local residential markets because of the policy. Quantitatively, our estimates suggest that, if the density of affected Airbnb properties is 1% higher in a market, the policy may further decrease rents and home values by about 0.03%–0.06%, which is similar across each policy-affected city. Our empirical findings add to the debate about the impacts of home sharing on local residential markets with a novel data set and a unique identification strategy. Practically speaking, our research is a timely response to the debate on regulating home sharing and has implications for various stakeholders of the residential real estate markets. This paper was accepted by Chris Forman, information systems. Funding: K. Xie thanks the University of Denver Faculty Research Fund 2017 for financial support. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2022.4299 .

The rapid growth of storage overhead on public blockchains has urged the use of light clients that only store a small fraction of blockchain data and rely on other bootstrapped full nodes for data retrievals. Unfortunately, current blockchain light client designs are far from satisfactory. Firstly, outsourcing retrieval requests could raise severe concerns about result correctness and privacy threats. Secondly, current light clients do not support rich query and enforce fee payments to full nodes. Given that blockchain storage increases day by day, enabling effective rich blockchain queries and fairly compensating full nodes ever growing costs has become extremely necessary. In this paper, we propose a general and secure paid query framework to simultaneously meet those demands above. Specifically, we leverage the integration of trusted hardware (e.g., Intel SGX) and smart contract as a starting point for building efficient yet secure query processing with fair payments. Then, we further craft several crucial performance and security refinement designs to boost query efficiency and enforce result correctness, and also explore an enclave-facilitated fair settlement mechanism for on-chain cost optimizations. We implement a prototype of our paid query framework and the experimental result has demonstrated its practically affordable cost.

The increasing importance of integrated fulfillment concepts revitalizes bricks-and-mortar stores and puts them at the center of retail operations. So-called omnichannel (OC) concepts leverage stores to offer seamless and enhanced operations for offline and online shoppers. Stores are used to fulfill online orders, offer shorter lead times to customers, and extend the assortment across channels. The role of the store and the underlying store operations are thus impacted by profound changes. This transformation has not yet been assessed comprehensively from a practical or an Operations Research (OR) lens. This paper identifies cross-cutting store-related planning issues and develops a planning framework for OC operations. We apply industry interviews and a systematic literature analysis to derive five planning issues. Research gaps are revealed by matching the pertinent OR literature with managerial needs. The planning issues network design of fulfillment locations, assignment of customer orders, and assortment and inventory planning have been discussed in several store-related OC publications. Demand forecasting and inventory replenishment have received less coverage, and offer significant research opportunities.

How does the military’s popularity influence leaders’ domestic leeway in foreign policy? We argue that leaders have strategic incentives to publicly leverage military prestige because doing so builds support and deflects blame for decisions regarding military force. Rather than shifting power towards the military, these references primarily empower leaders. At the individual level, a survey experiment varies the identity of presidential advisors and the outcomes of a foreign policy decision. References to military advisors increase approval for both action and inaction and insulate leaders from the costs of failure. At the elite level, we analyze presidential speeches to show that leaders reference military elites more when discussing negative issues in foreign policy and less when discussing positive issues. A detailed analysis of speeches surrounding the 2007 Iraq Troop Surge further supports our expectations. Leaders have and act upon incentives to politicize the military to loosen domestic constraints on foreign policy.

There is growing use of technology-enabled contact tracing, the process of identifying potentially infected COVID-19 patients by notifying all recent contacts of an infected person. Governments, technology companies, and research groups alike have been working towards releasing smartphone apps, using IoT devices, and distributing wearable technology to automatically track "close contacts" and identify prior contacts in the event an individual tests positive. However, there has been significant public discussion about the tensions between effective technology-based contact tracing and the privacy of individuals. To inform this discussion, we present the results of seven months of online surveys focused on contact tracing and privacy, each with 100 participants. Our first surveys were on April 1 and 3, before the first peak of the virus in the US, and we continued to conduct the surveys weekly for 10 weeks (through June), and then fortnightly through November, adding topical questions to reflect current discussions about contact tracing and COVID-19. Our results present the diversity of public opinion and can inform policy makers, technologists, researchers, and public health experts on whether and how to leverage technology to reduce the spread of COVID-19, while considering potential privacy concerns. We are continuing to conduct longitudinal measurements and will update this report over time; citations to this version of the report should reference Report Version 2.0, December 4, 2020., 37 pages, 11 figures. Supercedes arXiv:2005.06056

Beyond merely satisfying customers, companies are increasingly striving to build deeper and more meaningful customer relationships characterized by strong customer-company identification. However, whereas previous research has solely focused on symbolic drivers of identification, it remains unclear whether, when, and how managers can build on core functional company characteristics (i.e., quality, innovativeness, and price) to establish customer–company identification. The present study addresses these questions by developing a theoretical framework based on theoretical notions of social identity theory and the cue diagnosticity framework. Evidence from two field studies and one experimental study shows that functional company characteristics are not effective in creating customer–company identification per se, but that their influence depends on whether they match with a self-definitional need that is important to the customer (i.e., self-continuity, self-distinctiveness, or self-enhancement). The findings also reveal the underlying mechanism of this contingency by showing that a self-definitional need fosters customer–company identification because it strengthens the symbolic value of a matching functional characteristic. By identifying specific characteristic–need matches, this research offers novel insights into how managers can leverage functional company characteristics in their targeting and communication efforts to establish meaningful long-term relationships with customers.

Voyeurism violates dominant moral codes in many societies. Yet, for a number of businesses, including erotic webcam, reality television, slum tourism, and mixed martial arts, voyeurism is an import...

Despite the proactive efforts of many firms to combat gender bias within their organizations, societal prejudices still disadvantage women leaders and the firms who employ them. This external gender bias shapes outside stakeholder evaluations of women leaders’ efforts in various ways, and firms need strategies to cope with this external gender bias. We examine the conditions that might alleviate this burden of external bias and what women leaders and top executives can do to leverage these conditions—from a strategic positioning perspective—that will effectively allow female leaders to differentiate their work. To do this, we synthesize and build upon evidence that the external gender bias against women leaders diminishes when they lead in areas that are unconventional, rather than mainstream. We then propose a two-step process based on (1) identifying the likely threat of external gender bias, which is stronger in some industry contexts than others, and (2) leveraging unconventionality to circumvent male prototypical comparisons, thereby reducing the hazards of external gender bias.

Refereed/Peer-reviewed Foreign institutional actors (INAs) can act as a liaison between firms and authorities and other power players to navigate bureaucratic structures, both as resource and legitimacy providers in the host market. Building on institutional theory, this study draws from broader organizational sociological literature, to explore the structural position of INAs in a host country context, and engages with fundamental questions of legitimacy, status, and power. It responds to repeated calls that more studies in international business research are needed on the impact of institutional differences, how to obtain legitimacy, and enhance the home country support networks. To understand INAs' position, specifically within the social structure of a bureaucratic host environment, our study uses in-depth interviews with elite actors from the support networks. Japan is chosen for this study as a host market, because it is the European Union's second largest trading partner in Asia, has a strong central bureaucracy, and historically and currently remains a challenging market for Westerners due to complex market entry barriers. The findings provide a new theoretically derived empirical model demonstrating the positional leverage of these INAs, to “open-doors” into a complex environment and offer a nuanced understanding of their formal and informal structural positions of power. The findings also demonstrate a significant overlap between organizational legitimacy and the exemplary status of these INAs in the bureaucratic environment, which enhances and empowers their leverage to reach authorities, press, and other important actors in the market.

We examine the impact of ambiguity, or Knightian uncertainty, on the capital structure decision, using a static tradeoff theory model in which agents are both ambiguity and risk averse. The model confirms the well-known result that greater risk—the uncertainty over outcomes—leads firms to decrease leverage. Conversely, the model indicates that greater ambiguity—the uncertainty over the probabilities associated with the outcomes—leads firms to increase leverage. Using a theoretically based measure of ambiguity, our empirical analysis presents evidence consistent with these notions, showing that ambiguity has an important and distinct impact on capital structure. This paper was accepted by Gustavo Manso, finance.

As valuable assets of corporations, governments and not-for-profit organizations, brands have attracted considerable research attention. We know a lot about how brands create knowledge in their target consumers’ minds, which leads to an attitude towards or relationship with the brand that translates into a number of favorable outcomes. The resultant brand equity is often associated with improved performance of the organization in reaching its objectives such as increasing market value. We know less about the dynamic nature of brand equity and, in particular, how it may interact with turbulence in the external environment in which the brand competes, both positively and negatively. We examine three key dimensions of brand equity—brands’ access to their target markets, perceived differentiation, and level of brand engagement with their target consumers—that influence the effect environmental turbulence has on diminishing equity or providing future opportunities for brand equity growth. Borrowing from the strategy literature, we suggest ways in which agile and resilient firms can use brand equity to resist environmental turbulence, recover from any damage that may result from it, and reinvent themselves to leverage opportunities created by a radically altered external environment. We close with a set of propositions intended to guide managers in anticipating and responding to environmental turbulence and inform and shape future research in this area.

This study investigates how retailers can leverage their brand to shape customers’ satisfaction with service encounters. It develops and tests hypotheses about how brand, store, and consumer factors moderate customer responses to experience clues during retail service encounters. Six meta-regression analyses synthesize and compare results from 842 satisfaction equations describing customers’ encounters with a global retailer operating 400 stores in 32 countries. The results show how customers weigh their perceptions of service encounters differently depending on brand, store, and consumer factors. In markets where customers believe the retailer has high holistic brand quality, they place less weight on experience clues within the store. In markets where customers believe the retailer’s service brand promise, they place more weight on in-store experience clues. In markets where the retailer promises utilitarian value, customers weigh functional experience clues more heavily. In markets with an online purchasing channel, the effect of experience clues common to offline and online store environments is magnified, and unique clues are diminished. In addition, customers heavily weigh experience clues that fit their goals. In general, retail success factors include high brand quality (which makes customers more forgiving), a service brand promise that is mirrored in the store image (which makes customers attend to the experience clues aligned with them), and the careful monitoring and managing of retail touchpoints (to customize experience clues to each market). In this way, retailers can use customer-based strategies to effectively design and manage their global retail brand in different markets.

Should you decide to launch a nano-satellite today in Low-Earth Orbit (LEO), the cost of renting ground station communication infrastructure is likely to significantly exceed your launch costs. While space launch costs have lowered significantly with innovative launch vehicles, private players, and smaller payloads, access to ground infrastructure remains a luxury. This is especially true for smaller LEO satellites that are only visible at any location for a few tens of minutes a day and whose signals are extremely weak, necessitating bulky and expensive ground station infrastructure. In this paper, we present a community-driven distributed reception paradigm for LEO satellite signals where signals received on many tiny handheld receivers (not necessarily deployed on rooftops but also indoors) are coherently combined to recover the desired signal. This is made possible by employing new synchronization and receiver orientation techniques that study satellite trajectories and leverage the presence of other ambient signals. We compare our results with a large commercial receiver deployed on a rooftop and show a 8 dB SNR increase both indoors and outdoors using 8 receivers, costing $38 per RF frontend.

In the contemporary business reality, marked by unemployment and loose labor markets, workplace abuse is likely to climb as organizations and managers wield increased leverage in the employment relationship. We explore the organizational phenomenon of worker abuse and examine workplace blog accounts from abused workers to uncover shared insights from abused workers. Based on these findings we offer research-based suggestions, implications for practice, and resources for organizations, managers, and workers. Specifically, we advance an A.B.U.S.E. Mitigation Model as a holistic management system for identifying and dealing with workplace abuse.

In naturally regenerated managed forests, silvicultural methods leverage timing and intensity of harvesting activities to align with species-specific reproduction mechanisms. With contemporary emphasis on complex stand structure and diverse composition, there is uncertainty in the continued use of timber-oriented management practices in meeting evolving objectives. In the northern hardwood region of North America, contemporary theory is that selection regeneration systems result in homogenization of structure and composition through increasing dominance of Acer saccharum Marsh. Given the coupling of soils and vegetation in northern hardwoods, trends in site conditions that may be more resilient and (or) facilitative to community diversity may be of value to silviculturists. Remote-sensing products and inventory records were integrated to assess tree communities across site variables in northern Michigan, USA. The results reveal that composition is stabilized by local landforms and that diversity increases with hydrologic catchment area. Time since treatment (1–54 years) appeared negatively correlated with catchment area, reflecting lowlands with high diversity not managed or harvested infrequently, due to equipment access and operational logistics. Broad interpretations of selection regeneration systems may be invalidated by the influence of site conditions not previously accounted for, and the results highlight a novel technique to capture the effect of topography on species assemblages.

Covid-19 has drawn renewed focus to the importance of resilience, both among practitioners and in academia, as companies struggle to cope with the rapid swings, changing patterns, and disruptions in supply and demand. This article identifies and delineates a way forward for companies to support resilience, particularly by companies recognizing the wider communities they are nested in and resources that exist there. To identify such productive resources, known as ‘capitals’, we provide a novel and actionable Integrated Capitals Framework. This framework integrates ten existing frameworks drawn from both practice and academia, and is comprised of nine different forms of capital: financial, physical, social, natural, human, cultural, public, political, and, crucially, health. Businesses can leverage and contribute to these resources to support resilience. We provide insights into how businesses can use this framework in practice, providing a way for companies to achieve resilience through this useful, yet underutilized, path.

Based on the Upper Echelon Theory, this paper examined the relationship of CEO education and experience with the dynamic capital structure (DCS) using the target leverage and speed of adjustment (SOA) models. This study applied the system generalised method of moments (SYS-GMM) to the target leverage model and Ordinary Least Squares bootstrapped standard errors to the speed of adjustment model. Using the 100 Indonesian firms, two notable findings were obtained. First, the target leverage model with the inclusion of CEO characteristics yielded a 22% of the SOA towards target leverage. Both variables showed a positive relationship with the target leverage. Second, the result revealed that the improvement of CEO education and experience by one standard deviation led to an increase in the SOA by 3.37% and 0.17%. Thus, the results were consistent with the theory whereby the education and experience of the CEOs were potential determinants the DCS.

Defensive deception techniques have emerged as a promising proactive defense mechanism to mislead an attacker and thereby achieve attack failure. However, most game-theoretic defensive deception approaches have assumed that players maintain consistent views under uncertainty. They do not consider players’ possible, subjective beliefs formed due to asymmetric information given to them. In this work, we formulate a hypergame between an attacker and a defender where they can interpret the same game differently and accordingly choose their best strategy based on their respective beliefs. This gives a chance for defensive deception strategies to manipulate an attacker’s belief, which is the key to the attacker’s decision-making. We consider advanced persistent threat (APT) attacks, which perform multiple attacks in the stages of the cyber kill chain (CKC) where both the attacker and the defender aim to select optimal strategies based on their beliefs. Through extensive simulation experiments, we demonstrated how effectively the defender can leverage defensive deception techniques while dealing with multi-staged APT attacks in a hypergame in which the imperfect information is reflected based on perceived uncertainty, cost, and expected utilities of both the attacker and defender, the system lifetime (i.e., mean time to security failure), and improved false-positive rates of intrusion detection.

ISP networks have become a critical infrastructure in our society. Traffic in these networks is growing and is increasingly dominated by a small number of large CDNs connecting at multiple locations. Simultaneously, the networks are becoming more flexible, in terms of routing, CDN user mapping, and also regarding the IP topology: emerging optical technologies allow to flexibly reconfigure the network. This paper studies the potential gains of these reconfiguration flexibilities. The idea is to make CDN-ISP infrastructure demand-aware, that is, to re-optimize it towards the changing end-user demands over time. We present an optimization framework and conduct an extensive evaluation using data from a large European ISP. We find that such a reconfigurable infrastructure has indeed a high potential: by leveraging spatial and diurnal traffic patterns, the efficiency of ISP networks and CDNs is improved significantly. Specifically, the required backbone capacity is reduced by 15% while reducing path lengths by 30%, on average and during the critical peak hour. Moreover, such infrastructures can leverage re-optimizations during specific events, like the COVID-19 pandemic, and under link failures. We optimistically assume a cooperative environment of ISPs and CDNs, and we conclude by discussing trends that foster the identified benefits in practice.

The SDGs are a universal agenda to address the world’s most pressing societal, environmental and economic challenges. The supply of timely, relevant and reliable data is essential in guiding policies and decisions for successful implementation of the SDGs. Yet official statistics cannot provide all of the data needed to populate the SDG indicator framework. Citizen science offers a novel solution and an untapped opportunity to complement traditional sources of data, such as household surveys, for monitoring progress towards the SDGs, while at the same time mobilizing action and raising awareness for their achievement. This paper presents the potential offered by one specific citizen science tool, Picture Pile, to complement and enhance official statistics to monitor several SDGs and targets. Designed to be a generic and flexible tool, Picture Pile is a web-based and mobile application for ingesting imagery from satellites, orthophotos, unmanned aerial vehicles or geotagged photographs that can then be rapidly classified by volunteers. The results show that Picture Pile could contribute to the monitoring of fifteen SDG indicators under goals 1, 2, 11, 13, 14 and 15 based on the Picture Pile campaigns undertaken to date. Picture Pile could also be modified to support other SDGs and indicators in the areas of ecosystem health, eutrophication and built-up areas, among others. In order to leverage this particular tool for SDG monitoring, its potential must be showcased through the development of use cases in collaboration with governments, NSOs and relevant custodian agencies. Additionally, mutual trust needs to be built among key stakeholders to agree on common goals that would facilitate the use of Picture Pile or other citizen science tools and data for SDG monitoring and impact.

The COVID-19 pandemic has surfaced many ethical challenges for nurse leaders who need the courage, ability, and support to make the right decisions. This paper discusses 3 ethical challenges: workforce shortages, staff assignments, and moral distress. It also offers strategies to leverage our code of ethics to navigate these situations.

There is broad understanding and appreciation that quality and safety are indispensable parts of the business enterprise of delivering care. However, because health care organizations have resource constraints and competing priorities, leaders and managers must create, demonstrate, and articulate a business case for continuing to prioritize investments in quality and safety. To accomplish this, one must leverage financial principles with compelling story-telling. Success creates a virtuous cycle whereby ongoing investments in robust structures increase returns (value defined as improvements in quality and safety outcomes), and cost savings are reinvested to continue to improve delivery of high-quality care.

Motivation: The question of what combination of attributes drives the adoption of a particular software technology is critical to developers. It determines both those technologies that receive wide support from the community and those which may be abandoned, thus rendering developers' investments worthless. Aim and Context: We model software technology adoption by developers and provide insights on specific technology attributes that are associated with better visibility among alternative technologies. Thus, our findings have practical value for developers seeking to increase the adoption rate of their products. Approach: We leverage social contagion theory and statistical modeling to identify, define, and test empirically measures that are likely to affect software adoption. More specifically, we leverage a large collection of open source repositories to construct a software dependency chain for a specific set of R language source-code files. We formulate logistic regression models, where developers' software library choices are modeled, to investigate the combination of technological attributes that drive adoption among competing data frame (a core concept for a data science languages) implementations in the R language: tidy and data.table. To describe each technology, we quantify key project attributes that might affect adoption (e.g., response times to raised issues, overall deployments, number of open defects, knowledge base) and also characteristics of developers making the selection (performance needs, scale, and their social network). Results: We find that a quick response to raised issues, a larger number of overall deployments, and a larger number of high-score StackExchange questions are associated with higher adoption. Decision makers tend to adopt the technology that is closer to them in the technical dependency network and in author collaborations networks while meeting their performance needs. To gauge the generalizability of the proposed methodology, we investigate the spread of two popular web JavaScript frameworks Angular and React, and discuss the results. Future work: We hope that our methodology encompassing social contagion that captures both rational and irrational preferences and the elucidation of key measures from large collections of version control data provides a general path toward increasing visibility, driving better informed decisions, and producing more sustainable and widely adopted software.

The identity of sustainable entrepreneurs progresses and is primed by certain identity dimensions, including society, community, or competition as their frames of references, their social motivation, and their self-evaluation. Because sustainable entrepreneurs aim to achieve the goals of generating profit and create social and/or ecological value at the same time, they experience two types of tensions: one that concerns social and ecological and the other with an extension of economic aspects. To leverage these, we find identity shifts dependent on the tension sustainable entrepreneurs’ experience, activating a certain combination of identity dimension. Building on 29 case studies with European sustainable entrepreneurs, the study investigates the dynamic role of entrepreneurial identity, thereby informing about fluid hybrid identity conflict management strategies. This adds to theory on entrepreneurial identity that has widely found multiple, yet coherent entrepreneurial identities and conflict management strategies.

Despite the surge of literature on customer engagement (CE) in social media, few studies shed light on how to leverage CE to improve firms’ operational efficiency. This research proposes a fresh framework using social media data to improve demand forecasting accuracy, resulting in a cost-efficient inventory control strategy. Drawing upon the resource mobilization perspective in particular, this research quantifies the construct of CE from the view of input–output efficiency evaluation using the Data Envelopment Analysis (DEA) model, and then leverages CE to forecast consumer online demand and reconfigure inventory management strategy. Using a 71-week data set from a social commerce start-up in China, this research shows that this new framework dramatically increases demand forecasting accuracy and reduces operational costs in inventory management. This study contributes to the literature by demonstrating the value of social media data in improving operational efficiency, particularly regarding inventory management.

Objective The COVID-19 pandemic provided an opportunity for surgical residency programs to rethink their methods of evaluating and recruiting candidates. However, the past year has not been seamless, with a soaring number of applications, reports of programs and applicants having difficulty evaluating each other, and an increasingly uneven distribution of interviews among applicants. Consequently, many have called for national changes to the residency application process to address these longstanding concerns. Results Here, we review the evolving literature and advocate for the permanent adoption of visiting rotations, virtual interviews with a universal release date and data-driven attendance limits, and opportunities for in-person applicant visits. Conclusions We believe these changes leverage the strengths of each format, allow for satisfactory bidirectional evaluation, and promote principles of justice, equity, diversity, and inclusion.

Although prior studies draw upon natural resource-based views, environmental strategy permits competitive advantages, and as such, gains financial performance. However, empirical results are mixed. To shed light on this issue, this study proposes that environmental performance mediates the link between environmental strategy and financial performance. Data were collected from 175 third-party logistic providers currently operating in Vietnam to test the hypotheses. Partial least square structural equation modeling was borrowed to test the data. The results reveal environmental performance partially mediates the link between environmental strategy and financial performance. By considering the mediating effect, this study contributes to the literature by addressing the intervening mechanism of environmental performance on the inconclusive relationship between environmental strategy and financial performance. Besides, this study also extends prior studies by borrowing a concept of environmental strategy, which captures the extent of organizations pursuing this strategy, to explain how and why pursuing this strategy permits environmental and financial performance.

Quantum computers leverage quantum mechanics to enable complex processing power enabling computation within a finite timeframe. As the industry reaches a peak of uncertainties in classical computing, researchers see an opportunity in quantum computing to resolve these uncertainties by unraveling the quantum mechanism that quantum physicists built for over a century. Organizations and academics have been working in tandem to conceptualize the quantum world through quantum computers. This article evaluates the tipping points of the quantum computers in the organization, the barrier of adoption, and a mitigation strategy. The article involves an extensive literature review of the current state and future application expectations from quantum computers. As part of this article, the authors interviewed senior industry technology experts to explore quantum computers’ introduction in the industry, and discussed the barriers to adopting quantum computing.

This study investigates the effects of social trust on corporate leverage in China with the data of listed companies and Chinese General Social Survey. Results reveal that social trust has a positive impact on corporate leverage, and this result remains robust when terrain is used as an instrumental variable. Social trust also further affects corporate leverage in central cities with high gross domestic product per capita, indicating that the impacts of social trust depend on local development as well. Social trust has similar impacts on long- and short-term leverage, but it does not affect commercial credit leverage like how it affects bank credit leverage. The possible channels are through the corporate responsibility to shareholder and local financial development. Another impact of social trust on leverage is through that of liabilities. Furthermore, improving local formal institutions may change the effects of social trust. Our results remain unchanged after robustness checks.

Social media empowers small and medium enterprises (SMEs) in engaging with their stakeholders economically and effectively. Social media use affects SMEs operation and knowledge sharing which creates innovation opportunities, speeds time to market, satisfies firm's customers, and improves business performance. Current research aims to explore the impact of social media use on the market entry agility, product innovativeness, reducing the market entry time for the SME and improving the firm performance. Cross-sectional survey-based data was collected from the jewelry crafting SMEs in Bali, Indonesia. The data was analyzed with the covariance-based statistical analysis technique with the SPSS based AMOS 23. The study results identify that social media use and market entry agility significantly impact firm performance. However, product innovativeness insignificantly influences firm performance. Furthermore, the market entry agility mediates for the firm performance so, SMEs need to leverage social media use, and market entry agility enables the dynamic capacity to enhance firm performance. Firms’ level innovativeness capability should be considered as a mediating role but should support another variable to leverage firm performance. The study limitation and future research options are reported at the end.

Modern forecasting algorithms use the wisdom of crowds to produce forecasts better than those of the best identifiable expert. However, these algorithms may be inaccurate when crowds are systematically biased or when expertise varies substantially across forecasters. Recent work has shown that meta-predictions—a forecast of the average forecasts of others—can be used to correct for biases even when no external information, such as forecasters’ past performance, is available. We explore whether meta-predictions can also be used to improve forecasts by identifying and leveraging the expertise of forecasters. We develop a confidence-based version of the Surprisingly Popular algorithm proposed by Prelec, Seung, and McCoy. As with the original algorithm, our new algorithm is robust to bias. However, unlike the original algorithm, our version is predicted to always weight forecasters with more informative private signals more than forecasters with less informative ones. In a series of experiments, we find that the modified algorithm does a better job in weighting informed forecasters than the original algorithm and show that individuals who are correct more often on similar decision problems contribute more to the final decision than other forecasters. Empirically, the modified algorithm outperforms the original algorithm for a set of 500 decision problems. This paper was accepted by Yan Chen, decision analysis.

In recent years, crowdfunding has gained a lot of popularity as it helps to leverage the power of the crowd in the development and commercialization of new products. Thus, scholars are encouraged to explore factors that could enhance the success of these crowdfunding projects. This article investigates the impact of social interaction (i.e., proactively updating the potential funders and seeking their feedback) on the success of the crowdfunding project among technology ventures. Moreover, we examine the moderating role of the product characteristics, i.e., product development stage and product innovativeness, on the relationship between social interaction and crowdfunding success. To test our hypotheses, we conducted two studies. For the first study, we collected and analyzed data from 203 Kickstarter projects from the mobile apps technology category. For the second study, we designed two short experiments with four hypothetical mobile apps technology projects each and collected data from 132 crowdfunders about their likelihood of supporting the projects. Both studies clearly highlight that social interaction has a significant positive impact on project success in terms of receiving funding and feedback among technological ventures. This article also suggest that products in the ideation stage benefit more from social interaction than products in the commercialization stage. Moreover, in contrast to our assumption, our findings indicate that the positive relationship between social interaction and project success is stronger for products with incremental innovativeness than radical innovativeness. Our study adds to the existing literature in crowdfunding by highlighting ways by which entrepreneurs can improve the success of their crowdfunding projects.

Islands have the potential to be precursors in the transition to clean energy, by adopting new technologies and applying innovative solutions that can serve as showcases at an international level. This paper is a contribution towards understating the importance of community engagement on energy transition processes. It covers multiple aspects of a green transition process, including technical, environmental, social, and economic issues. Starting by a participatory diagnosis process, the community of a small island located in Portugal (Culatra Island, Algarve), was challenged to lead the transition process and define different pillars of energy transition. The process brought together local authorities, academia, citizens and companies. Using practical examples, it is shown how the community is succeeding in tailoring new technological solutions for a green transition, according with the specific needs of the island, as expressed by the islanders themselves, including batteries, electric vehicles, retrofitting of homes, or heat pumps, which, when combined, could lay the foundations for the creation of a Renewable Energy Community and leverage socioeconomic benefits. info:eu-repo/semantics/acceptedVersion

Metaphors are language phenomena commonly used as tools of persuasion, as evident in different kinds of public discourses, most notably in political addresses. They are particularly potent in this respect because they function on the principle of connecting the logical with the emotional. This persuasive role has also been attested in media reports, usually employed for the purposes of framing and the creation of a specific narrative. The purpose of this paper is to outline a theoretical and methodological account of metaphor choices related to sustainability and restoration, as issues related to climate change, made by the contemporary media and the perceptions formed by repetition and reinforcements of certain kinds of imagery present in their choice. An additional purpose is to understand which information sources, and possible instances of influence and leverage, could be of importance in terms of the media reporting on sustainability-related issues. Therefore, the paper offers novel conceptual and analytical guidelines for future research in the field of sustainability communication.

The article examines the role of the Cyprus issue in the bilateral relations between Greece and the USSR in 1956-1960. It is based on primal archival research realised at the Constantine Karamanlis Archive (AKK) and at the Diplomatic and Historical Archive of the Greek Foreign Ministry (DIAYE) in Athens. The analysis of the recently declassified documents relate to the events which took place in 1954, when the Soviet Union supported the Greek claims for self-determination of the Cypriot people in the United Nations on the basis of the anti-colonial principles. This contributed to the impressive increase in trade between Greece and the USSR, especially after the unofficial visit of the Soviet Foreign Minister D.T. Shepilov to Athens in 1956. Against the backdrop of the deterioration of the international situation in 1957, Kremlin heavily criticized NATOs decision to deploy the US Intermediate Range Ballistic Missiles (IRBMs) in Europe and applied diplomatic pressures to NATO member-states including Greece. The shift from tensions to a peaceful offensive strategy, characteristic of the Soviet diplomacy towards Greece, proved to be a double-edged sword for Moscow in the long term. The author concludes that both countries exploited the Cyprus issue for their benefit. Thus, Moscow managed to take advantage of the Greek discontent with the NATO allies as a means of increasing its own prestige in the region, while the Greek governments capitalized on the Soviet tactics in order to increase its political leverage in confronting NATO on Cyprus.

One of the most common complaints of food supply chains (FSCs) is that of exploitative middlemen and retail chains that dominate markets to disenfranchise farmers, small retailers and consumers. Scholarship on agro-food geographies has paid close attention to some of the issues and institutions in FSCs, attending to the role of capital and variations in the spatial practices of their functioning. It has been less attentive to the implications of newer, emerging forms taken by interventions along the food supply chain by emerging distribution-led food businesses that leverage data technologies to streamline and expand their influence. Based on qualitative research conducted of seven food-based Business to Business (B2B) e-commerce firms in Bengaluru, India, this research brings together scholarship on agro-food geographies, digital technologies and embeddedness in economic activity to unpack the rise of modern FSCs in India, paying special attention to the introduction of data technologies in their functioning. We argue that digital and physical market spaces rest on each other, digital technologies being firmly emplaced in their functioning through active processes of network and territorial embedding by B2B firms. This results in a respatialisation of the relational and material elements of these chains. We also critically interrogate wider transformations that this new set of actors precipitate. These include: 1. the reshaping of power relationships and consequently agro-food geographies through a consolidation of capital around distribution rather than retail 2. the role of data technologies in shaping practices and narratives in FSCs and 3. implications of these shifts for allied infrastructures.

We examine the dynamic relation between firm leverage buildups and real economic activity using U.S. establishment-, firm-, and region-level data. We find that buildups in firm leverage are predictably associated with boom-bust growth cycles: employment grows in the short run but declines in the medium run. While firm leverage buildups are correlated with firm-level expansions, they continue to predict negative future employment growth if we control for firm-level expansions. Buildups in firm leverage predict a tightening of future firm-level financing constraints, and they only predict negative future employment growth if the level of firm leverage is sufficiently high, suggesting that the dynamic relation between firm leverage buildups and employment growth operates through a financial fragility channel. Our results have aggregate implications: regions with larger buildups in firm leverage experience stronger regional boom-bust growth cycles, and they perform significantly worse during national recessions.

National audience; This paper studies an economy where demand spillovers make firms’ production decisions strategic complements. Firms choose their operating leverage trading off higher fixed costs for lower variable costs. Operating leverage governs firms’ exposures to an aggregate labor productivity shock. In equilibrium, firms exhibit excessive operating leverage as they do not internalize that an economy with higher aggregate operating leverage is more likely to fall into a recession following a negative productivity shock. Welfare losses coming from firms’ failure to coordinate production are amplified by suboptimal risk-taking, which magnifies the impact of productivity shocks onto aggregate output.

Digitization is receiving a lot of interest in recent servitization research, but the use of platform-based Industry 4.0 technologies to boost product-service innovation (PSI) is less covered. This study aims to explore how companies successfully leverage platforms for servitization in an Industry 4.0 context. Building on theories of PSI, platform leverage and business model adaptation (BMA), we use longitudinal and interpretive research methods to conduct an exploratory study of the servitization pathways of four Chinese textile and apparel manufacturing companies. Results reveal companies’ roadmaps in undertaking digital and smart servitization strategies enabled by platform leveraging, and show the implementation approaches for related BMA. Further analysis identifies platform-based servitization destinations and pathway dynamics. This study constructs a theoretical basis and a typology for explaining platform-based servitization.

Sea areas where need special attention for the protection of the marine environment from various pollutants are widely distributed throughout the European Regions. In the meantime, the EU has adopted various directives to implement International Maritime Organization (IMO) instruments effectively and uniformly over foreign vessels in European waters so as to ensure ships’ safety and prevent vessel-source pollution. These EU regulatory regimes are conducive to maximizing the legal effect for the implementation of IMO instruments. In addition, the EU has exerted a great influence on the decision-making process of the IMO in adopting regulatory instruments for the prevention of vessel-source marine pollution due to the region’s strong commercial leverage in the global shipping industry. The study of the EU regulatory instruments over the prevention of vessel-source marine pollution will give the states that needs regional cooperative regimes a good example such as how they can establish regional cooperation to effectively prevent vessel-source pollution in sharing sea areas.

Transformational system change is required to respond to the current climate emergency and the COVID-19 induced structural break presents an opportunity to progress such change. While the tourism i...

This study examines effect of financial distress, debt default, audit delay and leverage on going concern audit opinions on Textile and Garment Subsector Manufacturing Companies listed on the Indonesia Stock Exchange for the 2017-2019 period. This research uses descriptive quantitative research. The sample of this research is 51 samples. Data processing using logistic regression analysis. The results of the research show that financial distress, debt default, audit delay and leverage have no effect on going concern audit opinions on Textile and Garment Subsector Manufacturing Companies listed on the Indonesia Stock Exchange for the 2017-2019 period. Keywords: Financial Distress, Debt Default, Audit Delay, Leverage, Going Concern Audit Opinions.

This article documents how one Teacher Preparation Program (TPP) at a medium-sized public university in the northeast responded to the needs of their urban partners during the global COVID-19 pandemic. The adaptation of this school-university partnership involved improving relationships where the TPP is more responsive to the needs of this urban school district. This article showcases how two colleagues created pandemic pivots in their graduate courses for in-service teachers. These pedagogical examples, or pandemic pivots, knit together technology and Social Emotional Learning (SEL) and create a more inclusive and more equitable new normal. Moreover, these pandemic pivots leverage programmatic mechanisms to sustain this new normal. The sustainability and success of this partnership makes use of stakeholder feedback loops which are both programmatic and interpersonal. Through institutionalizing these feedback loops, we create programmatic sustainability with the ability to dynamically meet the needs of our partners. The integration of SEL and technology pedagogical practices illustrated here are the result of programmatic structural changes driven by the voice of our partners, showcasing the design of our TPP.

In the wake of Covid-19, a flurry of surveys in education were conducted. These revealed alarming statistics about most learners losing half of the academic year, parents’ angst about sending children to school, and a small fraction of higher education institutions being able to leverage affordances of technology for effective online teaching and learning. As our right to breathe, eat and learn became suffocated, we were urged to re-imagine possibilities for resurrection, for mitigating current and future education “losses”. Deafened by the varied cacophony from teacher and student unions, school governing body representatives, scientists and education experts, the government with its departments of education decided to close education institutions and this coincided with the hard lockdown. Against this background, we use the lens of critical policy analysis (CPA), to explore the decision-making of education departments. In this qualitative study, a critical lens was used to reveal the magnification of the fault lines of educational iniquity and inequity as departments of education made decisions to close and reopen institutions. Multiple data generation methods included a key informant interview with a senior official from the Department of Education, a survey among school personnel, and document analysis. The findings revealed a tension between expectations of producers of policy and recipients of policy, within unequal school settings. A repositioning, by peering through the lens of the dispossessed to inform future policy, is recommended.

The territoriality principle stipulates that minority communities in a given territory should be linguistically accommodated. What are the economic effects of this principle? In this paper, we argue that the recognition of multiple languages confers respect on the minority group; it allows people to engage and participate meaningfully in society – thereby facilitating economic well-being. There is, however, a caveat: when recognition happens in areas where the minority is the overwhelming majority, there is a risk that the near-exclusive use of the minority language cuts the community off from the larger national state, which in turn stunts development. To test this, we focus on Transylvania, Romania. We leverage a legal stipulation that recognizes minority languages in areas where the minority constitutes more than 20% of the population. Using data at the municipal level, we find that recognition increases economic well-being in general – but not in areas where the minority are numerically dominant. Our results are normatively welcoming, but they also caution governments not simply to recognize minority languages but also to protect them adequately.