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Interdependence is an observable fact of social and economic life. However, while the term is used frequently, it is sometimes conflated with related terms like dependence, and scholars debate whether interdependence should be increased or decreased, for example, between trading nations. From an Austrian perspective, interdependence is a central characteristic of economics, enabling such phenomena as the division of labor. In this paper, we use multiple theoretical lenses, particularly drawing on insights from Austrian economics, to clarify and contextualize what is meant by interdependence. We first seek to establish a precise understanding of what it means for two agents to be interdependent, and then identify in what circumstances interdependence can be a desirable or undesirable system trait. We find that interdependence itself is a neutral concept, neither inherently good or bad. While interdependence is a trait of some successful systems, it can also introduce vulnerabilities. More specifically, depending on the nature of the goal attainment between interdependent agents, interdependence can either enable cooperation and mutual benefit, or it can result in misaligned incentives and promote the propagation of disruptions. A richer understanding of interdependence will be of benefit to economists and social scientists engaged in both descriptive and proscriptive research endeavors. [ABSTRACT FROM AUTHOR]

ABSTRACTNumerous studies have revealed that high-speed railways (HSRs) can efficiently reduce transportation costs for firms and therefore bring more business capacities to firms in regions with HSR services. This paper aims to adopt the difference-in-difference (DID) and PSM (propensity score matching) DID methods to examine the HSR’s causal effects on business costs. The author finds that business costs are significantly reduced due to the operation of HSR lines. Besides, private firms and firms in the secondary and tertiary sectors would experience more reductions of business costs encouraged by the HSR than state-owned and agricultural firms. The placebo test and parallel trend test have proved the feasibility of this study. Finally, this paper provides policy suggestions that the construction of HSR lines needs to be encouraged in order to promote the higher efficiency of business operations for firms and more-balanced spatial business developments in China.

We develop a theory of blockchain governance. In our model, the proof-of-work system , the most common set of rules for validating transactions in blockchains, creates an industrial ecosystem with specialized suppliers of goods and services. We analyze the interactions between blockchain governance and the market structure of the industries in the blockchain ecosystem. We show that the proof-of-work system may lead to a situation in which some large firms in the blockchain industrial ecosystem— blockchain conglomerates —capture the governance of the blockchain. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

Aim/purpose – This article analyzes the impact of gamification on staff motivation, performance, and corporate culture at the international level. It also examines the integration of advanced technologies such as AI (artificial intelligence), AR (augmented reality), and VR (virtual reality) into gamification strategies to enhance their effectiveness.

The aim of the paper is to analyse the effectiveness of F-Score-like models using the example of the Polish stock market. F-Score is a scoring model based on a high B/M investing strategy, which uses fundamental signals to assess the economic condition of an entity. So far, its effectiveness has been generally proven in numerous stock markets worldwide. However, no comprehensive study focusing on the Polish market has been conducted. Therefore, F-Score and similar models (FS-Score and PiotroskiTrfm) were analysed in this regard. It was shown that companies with higher scores generated positive both raw and market-adjusted returns on average. However, they were lower than the mean returns of low-score companies (for FS-Score) or total high B/M portfolio (regarding F-Score and PiotroskiTrfm). The results of the study show that F-Score, FS-Score and PiotroskiTrfm are generally effective investing tools. However, it might be more advisable for value investors to choose a total high B/M portfolio instead of shares of high-score entities according to F-Score or PiotroskiTrfm.

To explore the dynamism of the environment and the impact on service company competitive advantage from a customer relationship management (CRM) dynamic capabilities (DCs) perspective. This work also aims to develop a multidimensional conceptualisation of the dynamic environment and propose a theoretical model for analysing the impact of the environment's dynamism on the relationship between dynamic CRM capabilities and competitive advantage.

The aim of the paper is to find out what marketing tools are used by development companies operating in Poland to attract customers and whether the impact of the Fourth Industrial Revolution on marketing can be observed. The secondary aim of the paper is to determine whether developers building investments in the area of the restricted use area (O.O.U.) use more marketing tools to convince potential customers to buy. For this purpose, a secret client survey was used and the research sample consists of four development companies and four of their investments in Kraków. The research conducted led to the disclosure of marketing tools used by developers. The survey shows that some elements of home branding, storytelling and banner ads, social media ads, ads on websites and portals and information brochures are being used. Through the use of virtual walks, housing visualization and the use of social media in advertising, the impact of the Fourth Industrial Revolution on marketing in the industry can be seen. The analysis shows that companies creating developments in the restricted use area are not using more tricks to attract customers. All developers selected for the study use a similar number of marketing tools.

AbstractRobotics and automation are of the most prominent technologies that will probably define how retail operates in the future. This statement is especially relevant in today’s industry conditions characterized by rising wages, severe increases in energy costs and smaller consumer spending across the world. Digitalization accelerated by the pandemic also forces retailers to turn towards technology to keep pace with their competitors. These businesses build on their dynamic capabilities to succeed. The purpose of this article is to analyse successful implementation of robotics in retail in the context of these dynamic capabilities. A key proposition we lay the foundation upon is that investing in dynamic capabilities has an overall positive impact on the implementation of robotic technologies to sustain the digital competitiveness of retail companies. Our document analysis focuses on 190 retail-based news articles about the application of service robots at retail companies from the complete news archives. Findings highlight the importance of enhancing customer experience, regardless of front-end or back-end activities all work towards this one outcome. The implementation examples also reveal that retailers rely heavily on robots in their effort to harmonize digital and physical environment. Looking at geographical differences, Asia is way ahead in front-end application of robots that contribute more directly to customer experience. Retailers in Europe and the United States follow a more balanced approach with many backend service robot applications. Having adopted a global research view, our findings are not only applicable for the whole sector but can be interpreted in a local context.

This research examines how the interactive effects of financial flexibility value and accounting conservatism influence corporate investment decisions and further explores the moderating effect of a firm's mispricing on the above relationship. The findings show that firms with high financial flexibility and conservatism in the prior period are less likely to over-invest in the current period, because managers tend to make conservative decisions. Moreover, equity financing results in over-investment among overpriced firms, which is robust after considering a firm's hedging factor and high agency costs. [ABSTRACT FROM AUTHOR]

In this article, we examine the role of strategic investment in the US broadband industry. In particular, we provide evidence that cable incumbents adjust their investment strategy in response to fiber entry threat and that these deterrence strategies have been successful particularly in intermediate sized markets. We compile data on broadband deployment and exogenous franchise agreements for potential fiber entrants at the most local level in New York State. The results indicate that strategic cable investment may negatively affect optical fiber diffusion. [ABSTRACT FROM AUTHOR]

Employees are encouraged to share their knowledge to stimulate creativity and innovation. However, individuals may hide their knowledge to pursue personal interests. Drawing on the coopetition perspective, this study investigates how individual-level knowledge sharing and hiding behaviors jointly influence employees’ creative behaviors, as well as the knowledge sharing-hiding interaction mechanisms. We adopt a mixed-method design combining qualitative and quantitative analyses. Two types of knowledge sharing are identified: Proactive and reactive, both of which promote employees’ creative behaviors. A follow-up empirical test shows that knowledge-hiding behaviors positively moderate the relationship between reactive knowledge sharing and employees’ creative behaviors. However, knowledge-hiding behaviors demonstrate an inverted U-shaped moderating effect on the relationship between proactive knowledge sharing and employees’ creative behaviors. This study makes a pioneering attempt to study the interplay between knowledge sharing and knowledge hiding and challenges the conventional notion regarding the role of knowledge hiding in employees’ creative behaviors.

This research aims at analyzing the effects of entrepreneurial orientation (EO) on absorptive capacity (ACAP) and open innovation (OI) in small Colombian businesses, while also determining whether ACAP significantly influences OI. Additionally, it intends to measure the mediating effect of ACAP on the relationship between EO and OI. The study employed a quantitative approach and cross-sectional design, utilizing structural equation modeling. Data was gathered from a sample of 145 business owners in the department of Bogota, Colombia, using a simple random sampling technique and a self-administered questionnaire. The results indicate that EO strongly influences ACAP. Although no direct significant influence on OI was found, a significant indirect effect was observed. Furthermore, EO has a significant total effect on OI. ACAP was shown to significantly influence OI, demonstrating a full mediating effect on the relationship between EO and OI. These findings have important implications for entrepreneurs and decision-makers and contribute to the development of dynamic capabilities theory.

Abstract The addition of nanoparticles in the base fluid increases the thermal conductivity of the fluid but the stability of the fluid gets affected due to the presence of nanoparticles in the base fluid. The addition of motile microorganisms in the nanofluid increases the stability of the nanofluid by enhancing thermal conductivity as well as mass transport. In this perspective, the current investigation deals with the study of the behavior of microorganisms in bioconvection over the fluid variables in the non-Darcy background. A two-dimensional Prandtl-nanofluid moving along an inclined stretching flat surface subject to inlet and outlet rate of flow to the surface under the action magnetic drag force normal to the surface. The non-linear partial differential equations are transmuted to ODEs through appropriate similarity transformations. The MATLAB inbuilt bvp4c solver has been employed to generate the solution of the transformed ODEs. The stability of the finite difference scheme is demonstrated by a stability test, and the influence of various parameters on the nanofluid velocity, thermal as well as concentration, and density of motile microorganisms is depicted using graphs for each of them. Additionally, interested physical quantities, shearing stresses, rate of thermal diffusion, rate of mass diffusion, and rate of motile microorganism at the surface, have been plotted by varying the controlling parameters. Growth in the shear stress as well as the rate of thermal diffusion has been detected for the increasing values of δ and β . However, the Sherwood number decays for augmented values of δ . The findings could be utilized to increase the thermal efficiency of heat exchangers in order to maintain thermal balance management in small heat-density equipment and gadgets, as well as the thermal efficiency of microbial fuel cells, enzyme biosensors, and microfluidics devices. [ABSTRACT FROM AUTHOR]

The area of entrepreneurship education is developing rapidly, potentially conveying positive effects to business education, innovation and economies. Our paper seeks to analyse the entrepreneurial intention of a group of higher education students, and the data includes 29 interviews, administered to students of Portuguese higher education institutions. The results obtained allowed to confirm some of the aspects described in the literature, although a few divergences were also found. It was also possible to clarify some of the theories associated with barriers to entrepreneurship. The main limitations are related with the sample size, opening space for future research with larger samples. The most important implications relate to the identified need for very specific topics in entrepreneurship education. However, the key contribution of the paper also lies in its qualitative research approach.

Research background: Environmental factors are not adequately addressed in organizational ecology studies. At the same time, it is known that the theory has not received enough attention except for North America, which is the emerging point.

Background: Due to the Covid 19 pandemic, in many countries, higher, secondary and even primary education experienced the unannounced shift from traditional classroom lessons to distance teaching using different technologies.

Corporate Social Responsibility (CSR) becomes one of the prerequisites for success of contemporary organizations aimed at humankind’s survival by sustainable development. As SR behavior can generate significant benefits, more and more organizations are developing SR strategic plans and implementing SR initiatives. In ISO 26000, CSR has three basic concepts: Responsibility for one’s influences over society, interdependence and holistic approach. Therefore, authors focus on systemic approach to CSR. The purpose is to demonstrate how combined use of appropriate systems theories can help dealing with CSR. Accordingly, Dialectical Systems Theory (DST) and System Dynamics (SD), as relevant systems theories, i.e. methodologies stemming from different systemic paradigms, were selected. DST helped to identify some relevant aspects and components of CSR which were empirically tested in businesses in the Republic of Serbia. Hence, the following factors, i.e. groups of SR activities are selected as relevant for improving organizational performance: General CSR activities; CSR activities towards consumers; CSR activities towards environmental protection and beneficiaries’ health, and Socially responsible after sales activities. In addition, empirical research results indicating the influence of the above factors on performance were the basis for using the tools of SD, such as stock and flow diagrams and causal loop diagrams. SD tools contribute to simulating the system’s future behavior, i.e. future performance level after improving these CSR activities. Authors introduce a new, systemic approach to conceptualizing and researching CSR by providing appropriate methodological support for exploring relevant interdependencies of CSR aspects.

Research purpose. The COVID-19 pandemic has become a theme of the research on the functioning of the economy and particular industries. The same concerns were raised regarding the issue of the cultural industry. Therefore, the content of this paper was dictated by the recognition of the impact of the first wave of the Covid-19 pandemic on the activities of the cultural industry in Poland. The formulated research question reads: “How did the beginning of the Covid-19 pandemic impact the economic standing of the Polish cultural industry?”

Bankruptcy or default is a situation, in which, a business company or enterprise gets unable to pay its debts and cannot meet its obligations. Different reasons can cause bankruptcy that mismanagement seems to be one of the most important reasons for bankruptcy. This study aimed to examine the effect of managers’ narcissism on bankruptcy risk among companies operating on the Tehran Stock Exchange. This is a quasi-experimental research of post-event type, which falls into the field of positive accounting research based on real information. The final sample of this study was chosen using the systematic elimination (screening) and non-randomized sampling method, including 177 companies in a period of 8 years from 2013 to 2020. The research data were extracted annually from the Codal website, which were entered in the EVIEWS10 software following calculations in EXCEL software to examine the research relationships and hypotheses. The results of testing the research hypothesis revealed that the managers’ narcissism has a significant impact on the bankruptcy risk. The results obtained were consistent with the results of previous empirical studies indicating that improving the ability and characteristics of managers can enhance the performance of the company.

The aim of the paper is to identify differences in enterprises’ capital structure and its determinants in Poland and Portugal. The research applies statistical methods to the financial data of 22,775 Polish enterprises and 36,625 Portuguese enterprises for the years 2010–2017. The research results show that: (i) despite several years of ongoing economic integration in the EU differences in enterprises’ capital structure in old and new countries of the community still exist, (ii) in Portugal representing the old EU enterprises are more likely to use debt than in Poland being an emerging EU economy, (iii) in Polish enterprises, tangibility, profitability, liquidity and non-debt tax shield exert a negative impact on debt; while growth and size have a positive impact; in Portugal tangibility and a non-debt tax shield show the opposite, (iv) in both countries industry growth decreases indebtedness of enterprises while financial risk results in higher debt; in addition, in Portugal the capital intensity of industry increases the share of debt in capital structure.