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There is a research gap in accurately predicting an individual stock’s finances from industry environment factors. Therefore, to predict trading strategies for a target stock’s closing price, this study constructed a prediction module and an environment module for a hybrid variational mode decomposition and stacked gated recurrent unit (VMD-StackedGRU) model, with individual stock information input into the prediction module and industry information input into the environment module. The results from the U.S. banking industry generalization tests proved that the proposed model could significantly improve prediction performances and that the environment module did not play an important role and was not equal to the prediction module. The hybrid neural network framework was a new application for financial price predictions based on an industry environment. Profitable trading strategies and accurate predictions can be valuable in hedging against market volatility risk and in assuring significant returns for investors and investment institutions.

Lubricants, such as any types of greases and oils, are usually used to reduce the effect of friction. However, they also have multifunctions that increase the overall performance and application life. To clarify how lubricants decrease friction and reduce friction-related issues, this study evaluated the performance of specific fuel consumption and exhaust emissions (such as hydrocarbon, carbon monoxide, and particulate matter) of motorcycle with nanosilica (nano-SiO2) added to the original lubricant. Lubricants with 0.5, 1.5, 2.5, 3.5, and 4.5 wt.% nano-SiO2 were evaluated after testing their basic properties and conducting tribology tests. The lubricant with 3.5 wt.% nano-SiO2 was the best candidate for the four-stroke engine motorcycle experiments. The results of the tribology experiment with nano-SiO2 lubricant showed that the abrasion loss corresponding to the 3.5 wt.% nano-SiO2 lubricant decreased by an average of 42.43 %. Overall, the 3.5 wt.% nano-SiO2 lubricant improved the effect of lubrication. The primary focus of the current study was the development of nano-SiO2 lubricant technology for applications in industry environments. [ABSTRACT FROM AUTHOR]

Studies have shown that entrepreneurial activities are essential for ensuring the strategic development and growth of firms working within the biotechnology industry. This study focused on the biotechnology sector in Malaysia as it is one of the high-technology industries that can help the Malaysian economy become welldeveloped and stable. Investigating factors like the industry environment and entrepreneurial orientation allows the searcher to understand how the overall development of this industry can be nurtured. The researcher gathered data from 200 respondents within the industry, which showed that there is a significant positive impact of entrepreneurial orientation on project performance. As for the moderation impact, it is found that a negative industry environment can lead to reducing the positive effects of entrepreneurial orientation on project performance within the innovative biotechnology industry. Therefore, future studies need to focus on mechanisms of reducing negative elements in the industry environment to ensure better project performance. [ABSTRACT FROM AUTHOR]

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

Although pre-entry experience is widely regarded as a critical asset that positively influences new entrant performance, empirical support is mixed. To address this inconsistency, we conduct a meta-analysis of the empirical findings in 272 papers. We draw theoretically on the organizational learning literature to argue that the pre-entry experience–new entrant performance relationship is contingent on the characteristics of pre-entry experience, the environmental context of the new entrant, and the interaction between the two. In particular, we examine the effects of two levels of pre-entry experience (firm and founder), four types of founder-level pre-entry experience (entrepreneurial, managerial, industry, and functional experience), and two types of environments (industry and institutional). The meta-analysis results show a significant and positive correlation between founder-level pre-entry experience and economic performance of 0.07. Likewise, the failure rates of spinouts and diversifying entrants are 11% lower than that of start-ups. The moderating analysis results show that the correlation of founder-level pre-entry experience and economic performance is lower in knowledge- or technology-intensive (KTI) industries and higher in low-KTI manufacturing and service industries. The correlation is also higher in institutional environments with high power distance and individualism. These findings provide compelling new evidence for the importance of pre-entry experience and advance our understanding of the boundary conditions on the pre-entry experience–new entrant performance relationship. Supplemental Material: The online appendix is available at https://doi.org/10.1287/orsc.2022.1589. [ABSTRACT FROM AUTHOR]

Based on the upper echelons theory and the attention-based view of the firm, this study constructed a relationship model between the top management team's attention allocation and the firm's environmental innovation. Given the firm's environmental innovation activities may be influenced by resource factors, we selected the past performance of the firm (measured by profit) as the moderating variable. Three hundred and twelve listed Chinese companies were selected as the research sample, and NVivo11 and SPSS21.0 software were used to analyze the relationships among attention allocation, past performance, and environmental innovation. The results showed that the more attention that the top management team allocated to policies and consumers, the more likely the firm was to adopt an environmental innovation strategy; however, the more attention that top management team allocated to competitors and employees, the less likely it was the firm adopted an environmental innovation strategy. Besides, the past performance of the firm played a positive moderating role between the top management team's attention to consumers and the environmental innovation of the firm. [ABSTRACT FROM AUTHOR]

This study aims to explore the association between the digital economy (DE) and corporate total factor productivity (TFP), as well as to analyzing the potential moderating influence of industry environment. The sample comprises Chinese A-share listed manufacturing enterprises, and the analysis utilizes the knowledge-based view of firms. The results reveal an inverted U-shaped association between the digital economy and corporate total factor productivity, with the industry environment playing a moderating role in this association. Specifically, the inverted U-shaped association is flatter in industries with higher levels of munificence and dynamism, while it is steeper in the higher complexity industries. These findings underscore the impact of the digital economy on firm productivity and provide guidance on how to effectively utilize the digital economy to improve productivity and competitiveness under different industry environments. • We present new and detailed evidence supporting the productivity paradox within the knowledge-based view. • We empirically discover the inverted U-shaped relationship between digital economy and corporate total factor productivity. • We examine the moderating effects of industry environments on this relationship. • We contribute to a deeper understanding of digital economy, especially in emerging economies. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the effects of the industry environment on firm’s performance, by using a non-linear regression model. The samples used range from 178 (2005) to 252 (2012) publicly traded Brazilian firms, active in the period from 2005 to 2012. The analysis, which uses the variance decomposition method, allows one to identify a tendency for the influence of rivalry to increase a firm’s performance. The quadratic relationship identified here points to an equilibrium point of the industry environment effect that, if exceeded, may cause a reverse effect on profitability. These results are in line with the view that as rivalry increases, as measured in terms of rivals’ performance, so the possibility of obtaining a better sales performance also increases, until the point where the level of rivalry intensity becomes a barrier to increasing sales any further.

In this paper, we address the question whether there exists differences in the determinants that support survival versus success of small and medium-sized high-tech firms. We examine this question in the context of Finnish biotechnology industry by analyzing the survival of all dedicated biotechnology firms in the period of 1978-2008. We argue and show that the success and survival of firms are not necessarily driven by similar determinants. Specifically, we find that while the role of different types of alliances, focused market scope as well as legitimacy of the industry seem to be important both in ensuring survival and enhancing successful performance, determinants related to sources of financing, clustering, and patenting show differences in terms of how they relate on survival and success. [ABSTRACT FROM AUTHOR]

A recurrent refrain among technology management researchers and practitioners is the need to adapt to the increasing pace and unpredictability of change within many industry environments. Yet, both the characterization of industry environments and evidence of how they evolve over time has been decidedly mixed. This reflects the limitations and overreliance on linear methods in management research. In this paper, we introduce nonlinear dynamical system methods from complexity theory as an alternative to characterize and operationalize industry environments. We identify three measures employed regularly in disciplines ranging from medicine to physics to identify nonlinear patterns in data. Using data from 19 key industry sectors over 36 years, we demonstrate how this method can be used to examine how industry environments evolve. Our results indicate that industry environments evolve as chaotic systems with unpredictability commensurate with characterizations of hypercompetition. Furthermore, we observe that this unpredictability is widespread across multiple industry sectors, and not relegated to a selected group of industry environments. However, we do observe variation in the level of complexity and sensitivity to initial conditions across industry sectors. Finally, we find no evidence that the level of unpredictability of these environments was increasing over the time period studied. [ABSTRACT FROM PUBLISHER]

In order to test the moderating role of corporate strategy and industry environment in the effect of liquidity on investment for Portuguese manufacturing firms, we developed a multiple linear regression model for panel data. It is a static model with three types of variables: financial; strategic/environmental; and interactive. The estimated model was validated through the Breusch-Pagan/Cook-Weisberg and Wald Modified tests (heteroscedasticity tests), Lagrange Multiplier (industry random effects test, using the two-digit National Classification of Economic Activities), Hausman robust test (fixed effects model vs. random effects model test) and likelihood-ratio test (joint effect of industry and time test). The statistical processing of the data revealed that a company’s strategy (diversification and innovation) and the industry environment (growth) moderate the effect of liquidity on investment, which can be explained by the effect of these factors on the cost of asymmetric information.

This paper aims to investigate the effects of the industry environment on firm's performance, by using a non-linear regression model. The samples used range from 178 (2005) to 252 (2012) publicly traded Brazilian firms, active in the period from 2005 to 2012. The analysis, which uses the variance decomposition method, allows one to identify a tendency for the influence of rivalry to increase a firm's performance. The quadratic relationship identified here points to an equilibrium point of the industry environment effect that, if exceeded, may cause a reverse effect on profitability. These results are in line with the view that as rivalry increases, as measured in terms of rivals' performance, so the possibility of obtaining a better sales performance also increases, until the point where the level of rivalry intensity becomes a barrier to increasing sales any further. [ABSTRACT FROM AUTHOR]

New venture formation by academics has recently been recognized as an important source of knowledge spillover and technology transfer. However, the majority of studies have focused on the factors leading to academic entrepreneurship, while only few study the performance of these ventures. Moreover, this strand of the literature has focused solely on start-ups by university faculty. This study adds to these by including university graduates in the definition of academic entrepreneurs and controlling for the industry environment in which the new venture is founded; both aspects, which are recommended in recent studies. Longitudinal register data combined with responses from 1,151 first-time entrepreneurs in 2004 are used to explore the self-selection of individuals into certain industry environments and their subsequent performance-survival and growth-in the chosen environment. This study works from the hypothesis that university education (technical and non-technical) and industry experience increase new venture performance in high-profit and high-uncertainty industries, respectively, because of increased knowledge and skills; in addition, education and experience engender higher absorptive capacities and adaptability. The analysis controls for personal traits, social capital, and financial capital. Technical academics are found to perform better in both profitable and uncertain industries, whereas non-technical academics perform better only in profitable industries. Nevertheless, both types of academics are more likely to enter uncertain industries. The absorptive capacities of technical academics make these individuals particularly important in technology transfers to new ventures in unstable environments, which are important in developed economies. [ABSTRACT FROM AUTHOR]

This study empirically investigates the merger and acquisition (M&A) strategies of focal firms by considering their market and technology position at the industry level. The results obtained using patents, firm M&A agreements, and the financial data of U.S. technology firms from 1997 through 2008 demonstrate how industry leaders, challengers, and niche players differ in their M&A strategic logic. Three industry environmental factors and two technology positioning factors exhibit different effects on firms’ M&A strategies for varied market positions. The overall patterns reveal that niche players are more aggressive in leveraging their technology positions to adopt M&As for the purpose of acquiring access to external knowledge resources, while leaders tend to leverage their market positions and use M&As to further strengthen their market power. Challengers are more likely to engage in M&As when locating in unfavorable environmental markets, but they are less likely to engage in M&As when locating in technologically crowded areas. [ABSTRACT FROM PUBLISHER]

Copyright of Tourism & Management Studies is the property of Escola Superior de Gestao, Hotelaria e Turismo, Universidade do Algarve and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper, we examine how the competitive industry environment shapes the way that digital strategic posture (defined as a focal firm's degree of engagement in a particular class of digital business practices relative to the industry norm) influences firms' realized digital business strategy. We focus on two forms of digital strategy: general IT investment and IT outsourcing investment. Drawing from prior literature on determinants of IT activity and competitive dynamics, we argue that three elements of the industry environment determine whether digital strategic posture has an increasingly convergent or divergent influence on digital business strategy. By divergent influence, we mean an influence that leads to spending substantially more or less on a particular strategic activity than industry norms. We predict that a digital strategic posture (difference from the industry mean) has an increasingly divergent effect on digital business strategy under higher industry turbulence, while having an increasingly convergent effect on digital business strategy under higher industry concentration and higher industry growth. The study uses archival data for 400 U.S.-based firms from 1999 to 2006. Our findings imply that digital business strategy is not solely a matter of optimizing firm operations internally or of responding to one or two focal competitors, but also arises strikingly from awareness and responsiveness to the digital business competitive environment. Collectively, the findings provide insights on how strategic posture and industry environment influence firms' digital business strategy. [ABSTRACT FROM AUTHOR]

Copyright of Tourism & Management Studies is the property of Escola Superior de Gestao, Hotelaria e Turismo, Universidade do Algarve and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

An enterprise operates in a macroenvironment and in an industry environment. There are not only threats in the environment but also situational factors that are in favor of the enterprise as well. These are either chances or opportunities. Opportunities exist for agile enterprises. The agile enterprise is able to perceive them quickly and use them effectively. In this article, chances and opportunities are distinguished. This matter is discussed in the context of the situation's time horizon and complexity and of the enterprise's awareness of using them. In what follows, the segments of environment where opportunities can be searched for are presented as well as a typology of opportunities and the cycle of opportunity life span. On one hand, these topics are not discussed widely in the literature; on the other hand, they seem to be the basic components of opportunity theory, which should be elaborated to help enterprises in their process of becoming agile. This article synthesizes both literature and case studies. © 2010 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]