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The challenges encapsulated in the 'War for Sales Talent' are symbolic of the struggles inherent in the recruitment, nurturing, and retention of sales professionals. While extant research provides valuable insights into facets like hiring practices, selection criteria, coaching, and training strategies, a noticeable void persists in guiding salespeople as they navigate beyond the initial ramp-up period in a new role. By interconnecting survey responses from a cohort of 200 service salespeople with 18–24 months of tenure, this investigation brings to light the facets of effort—encompassing prospecting, conversion, retention, and growth—that exert an influence on the change in year-over-year revenue following a salesperson's first complete sales cycle post-onboarding. The results underscore the significance of conversion and growth efforts, revealing their robust impact on the net change in sales revenue. In challenging existing paradigms, this study proposes a conceptual shift in understanding sales effort. Rather than adhering to the prevailing unidimensional viewpoint, the findings advocate for recognizing sales effort as a multi-dimensional construct with competing demands. This nuanced perspective contributes to a more comprehensive understanding of the factors influencing revenue growth for salespeople transitioning from the ramp-up period toward a sustainable, growth-oriented trajectory. [ABSTRACT FROM AUTHOR]

Net Promoter Score (NPS) is one of the most popular customer feedback metrics (CFMs) with benefits and limitations. One limitation is that prior research has shown that NPS is not better in explaining outcome variables such as sales growth or churn than other CFMs. Most prior research, however, has not considered combinations of CFMs, CFMs related to the antecedents of customer satisfaction, and CFMs with affective components. Therefore, we argue that NPS should be supplemented with other CFMs, e.g., emotions. In an empirical investigation in the mobile phone industry, we choose Net Emotional Value (NEV) to measure of emotions. We show that a combination of NPS and NEV leads to a better explanation of two out of three outcome variables compared to using NPS only or NEV only. We also illustrate how emotional profiles and driver analyses can be used to identify the most relevant emotions of Detractors, Passives, and Promoters and conclude with limitations and potential for further research. [ABSTRACT FROM AUTHOR]

Purpose: Inspired by the resource-based view, this study focuses on two types of capabilities: dynamic (i.e. agility) and ordinary (sales capabilities). We aim to investigate whether SMEs that cultivate exceptional sales capabilities still need to enhance them through agility to maintain their sales growth and under what conditions. Design/methodology/approach: We use a descriptive research design and survey a sample of 235 SMEs from B2B industries in Croatia. We empirically test the conceptual framework with the SPSS Process macro. Findings: Our study results confirm that agility mediates sales capabilities' effect on sales growth. Furthermore, we find a significant positive moderating effect of sales orientation ambidexterity (retention coupled with the acquisition) on the indirect effect of sales capabilities on sales growth through agility. Originality: First, our study thus yields new insights on exploiting greater potential from sales capabilities through agile posture and making them at the forefront of SMEs' competitive advantage in turbulent transition markets. Second, through a moderated mediation framework, we provide actionable implications for managers by showcasing the situations in which the mediating role of agility contributes to sales growth, given the various levels of sales orientation ambidexterity. Finally, we contribute to the literature by focusing on two contextual issues: the transition country perspective and SMEs. [ABSTRACT FROM AUTHOR]

The wearable device market is growing rapidly, as evidenced by the growth in sales of smartwatches. However, these have a tiny touch screen so users cannot perform complex operations with a smartwatch. Few studies address the user experience of gestures to interact with wearable devices. This study uses a bone-conduction smartwatch to study the user experience of gestures for interaction with a wearable device in terms of four dimensions: pragmatic quality, hedonic quality–identification and hedonic quality–stimulation and attractiveness. Task loads ae also evaluated for further analysis of the user experience This study determines the relationship between these factors to determine the effect of using hand gestures to interact with wearable devices. The results of this study show that all of the users easily accept gesture interaction with wearable devices. Pragmatic quality, hedonic quality–identification and hedonic quality–stimulation are positively associated with attractiveness. A higher level of attractiveness reduces the perceived task load. Attractiveness has a significant positive effect on performance and task load has a significant negative effect on performance. [ABSTRACT FROM AUTHOR]

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This paper examines whether heterogeneities in financial development among Vietnamese provinces matter for firm growth in Vietnam. Using a nationally representative firm survey that covers more than 41,000 firms for the period 2009 − 2013, we estimate the impact of provincial financial development on the growth rates of firms by accounting for sectoral differences in growth opportunities. We find that province-level financial development promotes the growth rates of sales, investment and sales per worker of small firms, and reduces the growth rate of the wage-to-sales ratio. Our results imply that firms grow faster in provinces with a higher level of financial development. Moreover, the effect of financial development on growth rates is larger when firms operate in sectors with better growth opportunities. [ABSTRACT FROM AUTHOR]

This study examines the effects of non-additivity valuations on cash flows and sales growth by using the Choquet fuzzy approach as a pooled non-additive integral. The study targets 62 parent companies with 322 subsidiaries in the Tehran stock market from 2011 to 2019. The study divides firms' assets into four categories (inventories, receivables, fixed, and long-term investments). It uses the Choquet integral's properties to determine the firms' total non-additivity values. The Choquet integral approach used in this study considers the synergy of a set's componential factors in different measurements by considering and implementing the weights and coefficients of the elements. The results indicate that while the market valuation of companies (based on non-additivity valuations) has no significant correlation with their operating cash flows, it has a positive correlation with their sales growth, which could be attributed to the synergy created by the business combination of the parent companies with their subsidiaries. Moreover, the findings show a significant correlation between sales growth and the market price-to-book ratio as a simple approach to measuring a company's performance. However, the results suggest that non-additivity valuations offer a better estimation in measuring the efficiency of companies than market price-to-book ratio-based approaches. Indeed, the valuations of companies are determined based on their abilities in using their resources compared to similar companies in the same industry when they use non-additivity valuations. These findings are expected to be very helpful for potential investors and shareholders. [ABSTRACT FROM AUTHOR]

This study explores the link between R&D investment variability and CEO turnover across the eras surrounding the Sarbanes‐Oxley Act (SOX). It posits that, after SOX, R&D expenditure hikes not matched by sales growth may trigger more frequent CEO turnover, driven by a perceived increase in risk. Data from 1996 to 2010 reveal that, before SOX, R&D increases positively correlate with CEO job stability. In contrast, after SOX, a rise in R&D spending is linked to a higher rate of CEO turnover, particularly involuntary dismissals. The study further identifies that post‐SOX, the negative impact of R&D spikes on CEO turnover is significantly mitigated when such investment aligns with sales growth. The findings suggest a significant influence of R&D investments on CEO turnover, underscoring the need for boards to deliberate the consequences of R&D spending and CEO turnover to better align shareholders and CEO interests. [ABSTRACT FROM AUTHOR]

Integrating inventory and transportation decisions is vital in supply chain management and can enable decision-makers to achieve competitive advantages. This study considers a multi-item replenishment problem (MIRP) with a piece-wise linear transportation cost under demand uncertainty, which usually occurs both in retail and production environment when several items must be ordered from a single supplier. Conventionally, two-stage stochastic programming formulation is risk-neutral, and it lacks robustness in the presence of high data variability. Hence, we introduce the Conditional Value at Risk (CVaR) approach for MIRP. Additionally, we deploy both single and multi-cut L-shaped and the sample average approximation method to circumvent the computational complexity to solve large-scale instances. The data-driven simulation study is used to benchmark the results from deterministic, risk-neutral, and risk-averse stochastic models. The results indicate that under higher data variations, the risk-averse model provides better perspectives for a decision-maker. The results show a 40–50% reduction in lost sales with marginal growth in total cost while considering CVaR instead of a risk-neutral approach. [ABSTRACT FROM AUTHOR]

This study was conducted to determine the relationship and influence of financial inclusion on the business performance of micro and small enterprises (MSEs). The level of financial inclusion was investigated through access, usage, quality, and welfare. Business performance with its dimensions of sales growth, capital growth, labor increase, market growth and profit growth were also examined. Consequently, the relationship between financial inclusion and business performance, and the influence of financial inclusion on the business performance of MSEs were studied. Descriptive-correlational design was used to explore and describe connections between financial inclusion and business performance. Data were collected from the fifty (50) owners and managers of MSEs using stratified random sampling technique. Upon careful analysis of the results, it became evident that micro and small enterprises demonstrate a very high level of financial inclusion, coupled also with high results of their business performance. Further, it is found that there exists a statistically significant and positive relationship between financial inclusion and business performance. Moreover, it was revealed that financial inclusion significantly influences the business performance of MSEs. These findings underscore the critical importance of enhancing the financial inclusion initiatives for MSEs as it directly impacts and improves their overall business performance. [ABSTRACT FROM AUTHOR]

In this article, we focus on both the bright and dark sides of the organisational social capital of Russian manufacturing enterprises and its influence on their economic trajectories after the 2007–2008 global financial crisis. The analysis is based on a sociological survey of the CEOs and employees of 300 companies and statistics on their economic performance in the period 2001–2014. We found that only trust in the CEO helped companies to survive, while other characteristics did not. The relation between an enterprises' social capital and its economic performance after 2008 is counterintuitive: companies wherein the CEO enjoyed a high level of trust but where cooperation between managers and employees was generally low showed significant average annual sales growth. [ABSTRACT FROM AUTHOR]

Retail is currently in a state of upheaval due to digitalization and the associated booming online trade. Sales figures in stationary retail are stagnating. Online trading offers advantages through convenience and quick availability that customers no longer do not want to miss. Due to climate change, retailers and customers have changed their mind set towards more sustainability. Consumers are increasingly demanding sustainable products, so retailers must act appropriately to be both digital and climate-friendly in the future. The aim of this exploratory study is to use the example of floristry retailers to analyze whether they are growing with digitalization and whether they are taking sustainable initiatives to act as climate-friendly as possible. In addition, the florists' whole value chain is examined for climate friendliness. The results of the exploratory online survey of 68 floristry businesses in Germany show that both digitalization as well as climate and sustainability awareness play a significant role in floristry retail. [ABSTRACT FROM AUTHOR]

We examine firm value and performance implications of the growing trend of nontechnology companies engaging in activities relating to digital technologies. We measure digital activities in firms based on the disclosure of digital words in the business description section of 10-Ks. Digital activities are associated with a market-to-book ratio 8%–26% higher than industry peers, and only 25% of the differences in market-to-book is explained by accounting capitalization restrictions. To control for selection bias, we implement lagged dependent variable and IV regressions, and our market-to-book findings are robust to these specifications. Portfolios formed on digital activity disclosure earn a Daniel et al. The Journal of Finance 52 (3): 1035–1058 (1997)-adjusted return of 30% over a three-year horizon and a monthly alpha of 44-basis-points. On the other hand, we find weak evidence of near-term, positive improvements in fundamental performance, as we find some evidence of interim productivity increases but declines in sales growth conditional on digital activities. [ABSTRACT FROM AUTHOR]

Financial distress is a condition where the company cannot or has difficulty fulfilling its obligations to creditors. This study aims to analyze the effect of profitability, sales growth, leverage, cash flow ratio and managerial ownership on financial distress in nonfinancial companies on the Indonesia Stock Exchange for the 2020-2022 period. The sampling technique used in this study was purposive sampling. A total of 411 companies have met the criteria as observation units. The analysis method used is multiple linear regression analysis. The results provide empirical evidence that profitability, leverage, and cash flow ratios affect financial distress. Meanwhile, sales growth and managerial ownership have no effect on financial distress. [ABSTRACT FROM AUTHOR]

This study examines the relationship between advertising expenditures and profitability and sales of Fast-Moving Consumer Goods FMCG companies in Pakistan. The impact of advertising on profitability can vary based on factors such as advertising effectiveness, product availability, and competition in the market. Companies should consider these factors when making advertising decisions to maximize impact on profitability and sales. The research analysed the annual reports of Unilever and Procter & Gamble to investigate the impact of advertising expenses on gross sales in the FMCG industry from 2012 to 2022. The study found that advertising and promotional expenses had a significant impact on sales growth, especially in the rural sector, and that celebrity endorsements could boost sales. Despite the economic downturn, FMCG products have remained resilient due to advertising and promotional strategies. [ABSTRACT FROM AUTHOR]

Order backlog is an important non-GAAP metric that is a leading indicator of future earnings. We explore how various fundamental analysis metrics interacted with order backlog impacts future earnings. This study examines whether future earnings predicted by order backlog is contingent on other fundamental analysis metrics, such as a sales decrease, the cash conversion cycle, asset growth, and the ratio of order backlog to sales. We find that order backlog is an even more informative leading indicator of future earnings when sales decrease, the cash conversion cycle is longer, and asset growth is higher. In contrast, we find that order backlog in the presence of a higher order backlog to sales ratio predicts lower future earnings. We also find that market participants incorporate the moderating effect of order backlog on sales decreases and the cash conversion cycle, while we do not find the same evidence with asset growth and the backlog to sales ratio. These empirical findings are important for managers who want to effectively communicate the prospects of a firm's future profitability, and for investors who want to understand the financial fundamentals of firms with an order backlog. Overall, our findings show that the informativeness of order backlog can be conditional on fundamental analysis metrics in certain instances. [ABSTRACT FROM AUTHOR]

This article describes the use of a digital tool to conduct investigations that allow young children to collect data to answer questions that are interesting and developmentally appropriate for preschoolers. The curricular program is designed as a set of hands-on experiences for preschoolers to engage in problem-solving with data. The digital tool supports the teacher to mediate each step in the investigation process, as preschoolers collaborate to pose a question of interest, identify categories or variables that can help answer the question, proceed through the data collection process, and quickly generate a visualization (graph or tally chart) that drives a deeper discussion or "data talk" to make sense of the data. By maximizing the affordances of technology, data can be efficiently collected while children engage in science practices (e.g. asking questions) and mathematics learning (e.g. gather relevant data, sort and classify by attributes, analysis and interpretation of data). The use of this digital resource amplifies the scaffolding of each investigation, assists in the details of planning and conducting investigations, and provides colorful, engaging visuals to spur discussions about the data in relevant, age-appropriate ways. Throughout the process, children can build on and expand their mathematics and scientific knowledge and skills. [ABSTRACT FROM AUTHOR]

Based on a sample of Chinese ChiNext (Growth Enterprise Market) firms during their initial public offerings (IPOs) from 2009 to 2019, this study explores whether these firms engage in sales growth management and examines its economic consequences. We provide evidence that ChiNext firms tend to manage their sales growth to influence issuance prices during IPOs. Further, the study identifies several indicators that suggest growth‐managing firms engage in more aggressive and riskier promotional strategies, such as longer turnover days of receivables, lower gross profit margins and higher allowance ratios for doubtful accounts. The study also finds that growth‐managing firms are more likely to have higher price‐to‐earnings ratios, offer prices, overfund ratios, first‐day closing prices and a higher percentage of positive posts, suggesting that these firms aim to inflate their growth to attract more funds from financial markets by influencing investors' expectations. Additionally, we find a negative relationship between sales management and post‐IPO stock returns, indicating that investors cannot effectively identify sales management by ChiNext IPO firms. Cross‐sectional analysis also shows that growth‐managing ChiNext IPO firms are likely to have depressed post‐IPO performance, whereas the market intermediary (brokers, auditors and asset appraisal institutions) with a good reputation helps to alleviate future performance reversals. [ABSTRACT FROM AUTHOR]

The presented pilot for the Synthesis Product for Ocean Time Series (SPOTS) includes data from 12 fixed ship-based time-series programs. The related stations represent unique open-ocean and coastal marine environments within the Atlantic Ocean, Pacific Ocean, Mediterranean Sea, Nordic Seas, and Caribbean Sea. The focus of the pilot has been placed on biogeochemical essential ocean variables: dissolved oxygen, dissolved inorganic nutrients, inorganic carbon (pH, total alkalinity, dissolved inorganic carbon, and partial pressure of CO 2), particulate matter, and dissolved organic carbon. The time series used include a variety of temporal resolutions (monthly, seasonal, or irregular), time ranges (10–36 years), and bottom depths (80–6000 m), with the oldest samples dating back to 1983 and the most recent one corresponding to 2021. Besides having been harmonized into the same format (semantics, ancillary data, units), the data were subjected to a qualitative assessment in which the applied methods were evaluated and categorized. The most recently applied methods of the time-series programs usually follow the recommendations outlined by the Bermuda Time Series Workshop report (Lorenzoni and Benway, 2013), which is used as the main reference for "method recommendations by prevalent initiatives in the field". However, measurements of dissolved oxygen and pH, in particular, still show room for improvement. Additional data quality descriptors include precision and accuracy estimates, indicators for data variability, and offsets compared to a reference and widely recognized data product for the global ocean: the GLobal Ocean Data Analysis Project (GLODAP). Generally, these descriptors indicate a high level of continuity in measurement quality within time-series programs and a good consistency with the GLODAP data product, even though robust comparisons to the latter are limited. The data are available as (i) a merged comma-separated file that is compliant with the World Ocean Circulation Experiment (WOCE) exchange format and (ii) a format dependent on user queries via the Environmental Research Division's Data Access Program (ERDDAP) server of the Global Ocean Observing System (GOOS). The pilot increases the data utility, findability, accessibility, interoperability, and reusability following the FAIR philosophy, enhancing the readiness of biogeochemical time series. It facilitates a variety of applications that benefit from the collective value of biogeochemical time-series observations and forms the basis for a sustained time-series living data product, SPOTS, complementing relevant products for the global interior ocean carbon data (GLobal Ocean Data Analysis Project), global surface ocean carbon data (Surface Ocean CO 2 Atlas; SOCAT), and global interior and surface methane and nitrous oxide data (MarinE MethanE and NiTrous Oxide product). Aside from the actual data compilation, the pilot project produced suggestions for reporting metadata, implementing quality control measures, and making estimations about uncertainty. These recommendations aim to encourage the community to adopt more consistent and uniform practices for analysis and reporting and to update these practices regularly. The detailed recommendations, links to the original time-series programs, the original data, their documentation, and related efforts are available on the SPOTS website. This site also provides access to the data product (DOI: 10.26008/1912/bco-dmo.896862.2, Lange et al., 2024) and ancillary data. [ABSTRACT FROM AUTHOR]

This paper aims to identify, evaluate, and analyze determinants of the profitability of food enterprises from the Republic of Serbia. The paper determines the nature of the relationship between defined determinants and profitability by applying a panel regression model on a sample of 189 small, medium, and large food enterprises from Serbia in the period from 2011 to 2021. The analysis results showed that the profitability of food enterprises is positively influenced by liquidity and sales growth rate. On the other hand, the indebtedness, size, and materiality of assets have a negative impact on the profitability of food enterprises. Of all analyzed variables, only liquidity does not affect profitability at a statistically significant level. The results of the analysis should be added to the fact that smaller food enterprises, with a lower degree of indebtedness and a smaller share of fixed in total assets, achieve a higher degree of profitability. [ABSTRACT FROM AUTHOR]

The Productivity Paradox can be explained by technology capability. Resource Based Theory (RBT) is used to analyse how technology capability moderates technology investments, technology infrastructure use, and human capital impact on industry sales growth. Clustering identifies three levels of technology capability, and regression models assess the impact of technology investments, infrastructure use, and human capital in each. Industries with different technology capability have different performances and provide an alternate view of the Productivity Paradox. The impact of different technology resources varies with technology capability. [ABSTRACT FROM AUTHOR]

The production of alcoholic beverages is intrinsically linked to microbial activity. This is because microbes such as yeast are associated with the production of ethanol and key sensorial compounds that produce desirable qualities in fermented products. However, the brewing industry and other related sectors face a step-change in practice, primarily due to the growth in sales of no- and low-alcohol (NoLo) alternatives to traditional alcoholic products. Here we review the involvement of microbes across the brewing process, including both their positive contributions and their negative (spoilage) effects. We also discuss the opportunities for exploiting microbes for NoLo beer production, as well as the spoilage risks associated with these products. For the latter, we highlight differences in composition and process conditions between traditional and NoLo beers and discuss how these may impact the microbial ecosystem of each product stream in relation to microbiological stability and final beer quality. [ABSTRACT FROM AUTHOR]

Practitioners and academics have long discussed strategies for brand sales growth. A recent example is an industry debate in which different brand growth strategies were argued: https://www.mmaglobal.com/thegreatdebate (MMA Global & Neustarr, 2021). A central question in this arena is whether a brand should focus on its heavy, light, or non-buyers in its efforts to grow its sales. This study contributes to our knowledge about how sales growth can occur by investigating the potential contribution these three buyer groups can make to any sales gain. Using both, a simulation study and an empirical study of purchases of approximately 12,400 households in the UK, across different brands and categories, we show that almost any brand's headroom growth potential lies mostly in light or non-buyers of that brand. Even for large brands with high penetration the growth potential of light brand buyers eclipses heavy brand buyers. [ABSTRACT FROM AUTHOR]

Recent research has identified a key subset of the business population that comprises firms who had sought external finance but subsequently withdrew from the credit market completely despite still requiring finance. Utilising the UK's Longitudinal Small Business Survey between 2015 and 2020, we identify the consequences in terms of lost jobs and sales of these small- and medium-sized enterprises (SMEs) dropping out of the credit market for finance. We conduct our analysis at the regional and sub-regional level and found that around 230,000 SMEs have dropped out of the UK credit market and that in many localities this has reduced job creation and sales income growth. We conclude that this exclusionary borrowing behaviour will add further to existing regional and sub-regional economic inequalities in the UK, making the 'levelling up' agenda a very elusive policy objective. [ABSTRACT FROM AUTHOR]

Theoretical arguments regarding the effect of corporate social responsibility (CSR) on firm liability risk are abundant; however, empirical evidence about this relationship is scarce. We investigate the relationship between CSR and the personal liability risk of a firm's directors and officers. We argue that companies with better CSR performance represent a better underwriting risk for directors' and officers' (D&O) insurance providers and, therefore, have a lower cost of insurance. Our results show that firms with better CSR performance are more likely to purchase D&O insurance and have a lower premium-to-coverage ratio, known as the insurance rate-on-line. We also show that this risk-reduction effect is stronger for firms that operate in a high-risk environment and have higher sales growth. These results provide evidence that CSR can be used as a risk management tool to mitigate liability risk and suggest which firms benefit most from this effect. [ABSTRACT FROM AUTHOR]

Firms usually need to attract debt to form and grow, but increasing financial leverage also entails increased risks and costs for stakeholders, such as customers and employees. Accordingly, past research suggests that for common commercial firms (CCFs), which prioritize profits, higher leverage leads to lower sales growth and higher employment costs. However, Certified B Corporations (CBCs) distinguish themselves by having a credible prosocial mission and, therefore, might be better insulated against the adverse effects of higher leverage. Using a European multi-country matched sample of 136 CBCs and 136 CCFs, we find that the negative relationship between leverage and sales growth and the positive relationship between leverage and employment costs are weaker for CBCs than CCFs. Taken together, due to their certified prosocial mission, CBCs enjoy an advantage in debt financing compared to CCFs. [ABSTRACT FROM AUTHOR]

In light of the conflicting findings within the existing empirical literature regarding the factors influencing environmental, social, and governance (ESG) disclosures in the context of sustainable investment and firms' green innovation performance (GIP), our current study stands out as a distinctive research endeavor that examines how the relationship is influenced by the moderating effects of sales growth. Non-financial trade manufacturing companies listed on the Shanghai and Shenzhen stock exchanges between 2015 and 2020 were selected for this study. For data estimation, panel regression estimations using OLS and fixed effects models have been used. The results demonstrate a significant moderation of manufacturing industry's sales growth in China on the relationship between ESG disclosures and sustainable finance (operationalized by green credit, and green investment), and green innovation (operationalized by R&D intensity and green patents). Several practical takeaways are offered to boost green innovation performance among ESG reporting enterprises and increase the effectiveness of R&D intensity. These findings, including policy recommendations, will benefit all stakeholders. [ABSTRACT FROM AUTHOR]

The demand for last-mile delivery (LMD) services worldwide increased following online sales growth, so better methods to assess efficiency issues are paramount. This work explores a data-driven approach to evaluate LMD services and inform logistics service providers about possible improvement directions. It uses multi-directional efficiency analysis to benchmark LMD services based on process variables, such as delivery time and service cost. Then, by fitting machine learning models and using explainability algorithms with new metrics, characterizes factors that influence LMD performance. Early discussions with experts show that the approach produces understandable and integrable results that generate valuable insights, e.g., regarding the impact of each variable on service quality informing the direction for further improvement action. [ABSTRACT FROM AUTHOR]

We examine the causal effect of stakeholder orientation on firms' product market performance. Using the staggered enactment of constituency statutes across different states as an exogenous shock that increases the extent of the stakeholder orientation, difference‐in‐difference estimations suggest that on average firms incorporated in states that adopted constituency statutes increase sales growth by 1.7% relative to firms incorporated in states that did not adopt such statutes. The effect is stronger if a firm has higher labor intensity and if a firm operates in a durable goods industry. In addition, we find that stakeholder orientation improves the quality of innovation. [ABSTRACT FROM AUTHOR]

This paper examines the impact of trust on informal financial development. We isolate the inherited component of trust for 19 countries using US census data and relate it to firms' access to trade credit. We discover that trust disproportionately elevates the use of trade credit by companies that face obstacles to obtaining funds from formal channels. Further analyses show that the effect is more pronounced in finance‐dependent industries and that better access to trade credit promotes sales growth. Our results are robust to alternative samples, different estimations of inherited trust and various model specifications. [ABSTRACT FROM AUTHOR]

In the last decades, work flexibility emerged as a key requirement firms must meet to face volatile markets and highly differentiated product demand. This article compares two alternative approaches to strengthen work flexibility: internal flexibility, that is, practices that focus on the employees' ability to perform a variety of highly qualified tasks in a context of stable employment relationships; and external flexibility, that is, practices that align employment and labor costs to demand fluctuations using a buffer of nonstandard employees involved in routine tasks. We empirically verify whether both practices are able to boost sales growth using a linked employer-employee panel of manufacturing firms from the Emilia-Romagna region (Italy). While internal flexibility positively affects firm growth, external flexibility is at best not significant, and in some empirical specifications, it appears to hamper firm growth. Such a negative effect, however, decreases when we limit the analysis to industries with high demand volatility and cost-based competition. The related managerial and policy implications are discussed. [ABSTRACT FROM AUTHOR]

In this data paper, the sea level time series at Socoa (Saint-Jean-de-Luz, southwestern France) is extended through a data archaeology exercise. We conducted a comprehensive study of national and local archives to catalogue water level records stored in ledgers (handwritten record books) and charts (marigrams from mechanical float gauges), along with other associated documents (metadata). A dedicated effort was undertaken to preserve more than 2000 documents by archiving them in digital formats. Using this large set of rescued documents, the Socoa time series has been extended back to 1875, with more than 58 station-years of additional data. The final time series has hourly sampling, while the raw dataset has a finer sampling frequency of up to 5 min. By analysing precise levelling information, we assessed the continuity of the vertical datum. We also compared the new century-long time series to nearby tide gauge data to ensure its datum consistency. While the overall quality of the time series is generally good, siltation of the stilling well has occasionally affected certain parts of the record. We have successfully identified these impacted periods and flagged the corresponding data as doubtful. This extended high-resolution sea level time series at Socoa, spanning more than 100 years, will be valuable for advancing climate research, particularly when studying the decadal-scale variations in the North Atlantic and investigating the storminess and extreme events along the French Basque coast. The raw digitized water level, the processed dataset, metadata, and the python notebooks used for processing are available at 10.5281/zenodo.7438469 (Khan et al., 2022). [ABSTRACT FROM AUTHOR]

In this paper, we examine the factors influencing labor productivity and sales growth among micro, small, and medium-sized enterprises (MSMEs) within a middle-income economy. Although MSMEs play a pivotal role in employment within middle-income countries, they often display a lower economic value-added, pointing to underlying challenges in labor productivity. Using a longitudinal dataset of firms and employing both quantile regressions and machine learning techniques, we find that SMEs led by older, male, and more seasoned managers tend to exhibit higher productivity. Similarly, companies with a larger proportion of highly educated employees, affiliation to business groups, and engagement in R&D activities demonstrate superior performance. Finally, to improve the performance of MSMEs in developing economies, our results suggest that implementing targeted, well-defined vertical public support programs would be an effective public policy approach. [ABSTRACT FROM AUTHOR]

There has been significant EV sales growth in Europe, benefiting from its policies for promoting electric vehicles (EVs) and investments in manufacturing. This study investigates the investment announcements for EV and battery production announced by manufacturers and compares them to four scenarios with different EV penetration levels in Europe. This study projects the required capacities and estimates the investment needs to meet different EV sale targets in each scenario. The investigations show that, for Europe to achieve 60% new EV sales by 2030 and to be on track for 100% by 2035, its 4.8 million planned production capacity of EVs would fall short of the needed 9.2 million in 2030. The gap could close to 2.0 million when tentative announcements are counted. The results for batteries indicate that tentative plans are adequate and firm plans can satisfy most scenarios by 2030. More investments into EV production, along with policy support and incentives, are needed for more rapid scenarios. [ABSTRACT FROM AUTHOR]

This paper explores the effect of determinants shaping the landscape of transfer pricing practices within intra-group transactions among publicly traded companies in Romania over the period 2022. The research hypothesis focuses on identifying the variables that have a significant impact on transfer pricing in the Romanian business environment. Data collection was conducted manually from various sources, including explanatory notes from annual reports and databases such as Thomson Reuters and Bloomberg. The results reveal that the size of companies, sales, capitalization, foreign ownership, sales growth, and operational profit collectively contribute to the influence on transfer pricing practices. However, individual analysis shows that only sales significantly affect the transfer pricing practice. [ABSTRACT FROM AUTHOR]

Building on the dynamic capabilities literature and natural‐resource‐based view, the paper examines whether firms can attain sales growth through a range of sustainability‐oriented dynamic capabilities including (1) internal green supply chain management capabilities, (2) external green supply chain management capabilities and (3) green political capabilities. Based on a dataset of 277 public US firms between 2010 and 2020, a panel quantile model of firm growth showcases that while internal green supply chain capabilities and green political capabilities affect firms' growth performance positively, external green supply chain capabilities are associated with slower growth. Importantly, the results indicate that the positive growth effects of green political capabilities are short‐lived, while those of internal green supply chain capabilities are long‐lived. The study contributes to the sustainability‐oriented dynamic capabilities literature by showing that different capabilities have different implications for firm growth depending on the firm's base performance and the time periods under consideration. [ABSTRACT FROM AUTHOR]

The role of science and technology parks (STPs) in economic development, and in particular in the growth of the firms, has received considerable attention from government policies in different countries. However, there is no consensus in the literature on whether the location in these parks has positive effects on firms' sales growth. This paper aims to extend the discussion on the effects of STPs by providing new empirical evidence. With this purpose, we use a sample of 553 Portuguese companies located in these infrastructures and a control sample of the same size. We use the Propensity Score Matching Procedure to match the samples and the analysis is carried out by the Generalized Method of Moments in dynamic panel data. The empirical analysis does not prove any statistically significant effect of the location of the firms in science and technology parks on their growth in sales. [ABSTRACT FROM AUTHOR]

University spinoffs build on strong science, which renders them a significant source of radical innovation. Radical innovation entails uncertainty as there is no market to target, which calls for individuals and organizations that bridge the gap between embryonic inventions and opportunity yet to exist. Recognizing that the commercial success of university spinoffs hinges on the entrepreneurial ecosystems they are embedded in, this study establishes an unbalanced panel (2015–2020) to analyse interrelationships among the key factors in the university spinoff ecosystem: science, innovation, and venture financing. Estimation results reveal that, first, the quality of science increases the probability of university spinoffs acquiring risk money from venture capitalists and business angels. Second, the quality of innovation has a positive effect on venture capital funding. Third, venture capital funding positively affects sales growth of university spinoffs, which corroborates the coach function of entrepreneurial intermediaries that offer startups hands-on support. [ABSTRACT FROM AUTHOR]

The wheels of every business keep rolling with the fuel of working capital. Working capital facilitates the smooth operations of businesses, contributes towards revenue generation and helps in efficient asset utilisation. In this context, the current study examines the determinants of working capital in Indian micro, small, and medium enterprises (MSME), given the dearth of literature in an Indian context. The analysis was done using financial data for a long period of 13 years, from 2006-07 to 2018-19. Firm size, asset tangibility, leverage, profitability and sales growth were taken as determining variables. Stepwise regression was applied by taking the net working capital to total assets ratio and the cash conversion cycle as proxies for working capital requirements (WCRs). The results revealed that firm size and leverage are significant determinants of working capital for chemical firms in the Indian MSME industry. This study has implications for the managers of chemical MSMEs to forecast their WCR efficiently as per the determinants identified in the study. [ABSTRACT FROM AUTHOR]

Working capital management (WCM) is a critical matter for the growth of firms, especially small and medium‐sized manufacturing companies faced with liquidity shortages whose current assets account for a significant part of their investments. These characteristics describe most companies in the fish processing industry. Using a sample of more than 1050 European fish processing companies during the period 2013–2020 and applying dynamic panel data methods, this paper analyses the extent to which working capital investment and financing policies affect firm's sales growth. The empirical evidence reveals that the trade credit channel (i.e., accounts receivable and accounts payable) enhances sales growth, while the opposite effect is found for investment in inventories. Additionally, the findings insist on the importance of financing current assets with positive working capital to boost sales growth. [EconLit Citations: C23, G31, L25, L79, Q22]. [ABSTRACT FROM AUTHOR]