Search Results (1,283)

Freemium, a popular business model in the digital economy, offers a basic product for free while charging for advanced features or value-added services. This pricing strategy enables platforms to attract a broad user base and then monetize through premium offerings. Customer characteristics and service price are important factors affecting customer choice behavior in such a model. Based on consumption stickiness, we consider a monopoly that provides value-added services by incorporating a multinomial logit model into a two-stage dynamic pricing model. First, we analyze the optimal pricing of value-added services under a normal sales scenario. We then consider optimal pricing during the marketing period under two strategies—level improvement for value-added services and quality reduction for a basic product—and analyze the applicability of each. The results show that increasing the value-added service level has a positive effect on the optimal price of value-added services, whereas reducing the basic product quality has no effect on the optimal price. Furthermore, the numerical simulation shows that when the depth of consumer stickiness is low, the optimal marketing strategy reduces the quality of the basic product, the price of value-added services should be higher than that in the normal sales period but lower than the price under the level-improvement strategy for value-added services; otherwise, improving the level of the value-added services becomes the optimal approach. This study provides a theoretical basis and decision support for product quality design and service pricing that applies to freemium platforms. Full article

Strengthening climate resilience constitutes a foundational approach through which cities adapt to climate change and mitigate associated environmental risks. However, research on the influence of economic policy environments on climate resilience remains limited. Guided by institutional theory and dynamic capability theory, this study employs a panel dataset comprising 272 Chinese cities at the prefecture level and above, covering the period from 2009 to 2023. It constructs a composite index framework for evaluating the green business environment (GBE) and urban climate resilience (UCR) using the entropy weight method. Employing a two-way fixed-effect regression model, it examined the impact of GBE optimization on UCR empirically and also explored the underlying mechanisms. The results show that improvements in the GBE significantly enhance UCR, with green innovation (GI) in technology functioning as an intermediary mechanism within this relationship. Moreover, climate policy uncertainty (CPU) exerts a moderating effect along this transmission pathway: on the one hand, it amplifies the beneficial effect of the GBE on GI; on the other hand, it hampers the transformation of GI into improved GBEs. The former effect dominates, indicating that optimizing the GBE becomes particularly critical for enhancing UCR under high CPU. To eliminate potential endogenous issues, this paper adopts a two-stage regression model based on the instrumental variable method (2SLS). The above conclusion still holds after undergoing a series of robustness tests. This study reveals the mechanism by which a GBE enhances its growth through GI. By incorporating CPU as a heterogeneous factor, the findings suggest that governments should balance policy incentives with environmental regulations in climate resilience governance. Furthermore, maintaining awareness of the risks stemming from climate policy volatility is of critical importance. By providing a stable and supportive institutional environment, governments can foster steady progress in green innovation and comprehensively improve urban adaptive capacity to climate change. Full article

This study investigates the influence of corporate governance on reducing financial statement fraud (FSF) in Jordanian service and industrial companies listed on the Amman Stock Exchange from 2018 to 2022. To achieve this, the study employed the Beneish M-score model to assess the likelihood of FSF and logistic regression to examine the influence of corporate governance structure on fraud mitigation. The study identified 13 independent variables, including board size, board director’s independence, board director’s compensation, non-duality of CEO and chairman positions, board diversity, audit committee size, audit committee accounting background, number of annual audit committee meetings, external audit fees, board family business, the presence of women on the board of directors, firm size, and market listing on FSF. The study included 74 companies from both sectors—33 from the industrial sector and 41 from the service sector. Primary data was collected from financial statements and other information published in annual reports between 2018 and 2022. The results of the study revealed a total of 295 cases of fraud during the examined period. Out of the 59 companies analyzed, 21.4% demonstrated a low probability of fraud, while the remaining 78.6% (232 observations) showed a high probability of fraud. The results indicate that the following corporate governance factors significantly impact the mitigation of financial statement fraud (FSF): independent board directors, board diversity, audit committee accounting backgrounds, the number of audit committee meetings, family business involvement on the board, and firm characteristics. The study provides several recommendations, highlighting the importance for companies to diversify their boards of directors by incorporating different perspectives and experiences. Full article

To ensure stability and transparency in the European logistics sector, in May 2017, the European Commission presented several proposals to change the regulation of the market—in particular, market access, driving and rest periods, and business trips. In the development of this package, several unfavourable decisions were made that go against Lithuanian transport companies, which will have a significant impact on the companies’ finances, as the frequent return of trucks will lead to additional fuel costs and is also in contradiction with the concept of green logistics. Thus, it is essential to study the Mobility Package’s pros and cons and compare researchers’ views. Accordingly, the subject of this article is the impact of the Mobility Package on Lithuanian logistics companies. This article employs various methods, including an analysis of the scientific literature and legislation, statistical data analysis, PEST analysis, and qualitative research based on expert interviews. The results allow us to identify that the content of the Mobility Package is driven by the goal of ensuring equivalent working conditions throughout the EU, which in this case is the most important object of the legal changes. Also, based on the results obtained, it can be stated that Lithuanian logistics companies that want to remain in the market have several solutions they can employ to achieve that goal, and to support their efforts, a competitiveness improvement model for Lithuanian logistics companies has been developed. Full article

We investigate how the factors influencing aircraft utilization have changed during and post-Pandemic depending on the business model before. We classify the Pandemic into three periods (pre-, during and post- Pandemic) and the business models into three types (Total, FSC and LCC). For each group, we analyze the importance of factors using the SHAP and Random Forest models. Through group-difference tests on factor importance, we examine whether there are significant differences across the three periods and business models. According to the findings of the ANOVA (Analysis of Variance) and the Kruskal–Wallis assay, the importance of factors influencing aircraft utilization has changed across all business models over the three periods. Pre-Pandemic, a coincident index and a consumer price index were the principal factors. However, the exchange rate (KRW/EUR) gained significant importance during the Pandemic. This suggests that the Pandemic’s impact on the aviation industry was not limited to reduced demand but was also associated with changes in the importance of exchange rates and key business indicators for airline operations. Pre-Pandemic, there were significant differences among the business model groups. However, no meaningful differences were observed during and post-Pandemic. In other words, it seems that the leading indexes were closely interconnected pre-Pandemic, whereas lagging indexes and exchange rate became closely interconnected afterward. A group-difference test confirmed that no differences were observed among the business models, but differences were evident when considering the groups in their entirety. We presented the implications for changes in airline decision-making to understand changes in the aviation industry caused by the Pandemic, by identifying how the factors influencing aircraft utilization were altered. Full article

For high-growth firms, designing and implementing strategies to ensure the long-term sustainability of business models is a key priority. Although these strategies are carefully planned to achieve specific outcomes, these firms also encounter contextual factors inherent to entrepreneurship, as well as the potential negative consequences of operating as small- and medium-sized enterprises (SMEs). Consequently, they adapt emergent outcomes to secure positive scaling-up processes. A comprehensive analysis of 69 studies from 1978 to 2023 revealed that 34.8% used sales as the main indicator of high-growth outcomes, 18.8% considered employment to be the most important outcome, and 37.7% incorporated both. The assessment period for these studies spanned three to seven consecutive years. A subsequent review of the existing literature yielded 56 potential new outcomes, emphasising the existence of a diverse array of concepts and metrics with which to assess high-growth performance. The study confirmed sales and positive profits arising during the planning process as strategic outcomes. However, it was also demonstrated that geographical expansion and innovation become emergent outcomes in critical situations. The research also identified that external factors, including an adverse public environment, business context difficulties, and a favourable business environment, may influence the effect of the firm’s high growth. Full article

Oenological residues may cause environmental pollution when processing does not significantly reduce volume and/or harmful conditions. The lack of proper valorisation alternatives entails high disposal costs and resource inefficiency that jeopardise the sustainability and competitiveness of the industry. Interestingly, wine by-products are underappreciated sources of multipurpose bioactive compounds, such as anthocyanins, associated with health benefits. Alternatively, transforming oenological by-products into valuable co-products will promote sustainability and thus, create new business opportunities. In this context, the present study has assessed the applicability of winery by-products (grape pomace and wine lees) as ingredients to develop new functional kombucha-analogous beverages “3S” (safe, salubrious, and sustainable) by the Symbiotic Culture of Bacteria and Yeast (SCOBY). Concerning the main results, during the kombucha’s development, the fermentation reactions modified the physicochemical parameters of the beverages, namely pH, total soluble solids, acetic acid, ethanol, and sugars, which remained stable throughout the monitored shelf-life period considered (21 days). The fermented beverages obtained exhibited high anthocyanin concentration, especially when using wine lees as an ingredient (up to 5.60 mg/L at the end of the aerobic fermentation period (10 days)) compared with the alternative beverages produced using grape pomace (1.69 mg/L). These findings demonstrated that using winery by-products for the development of new “3S” fermented beverages would provide a dietary source of bioactive compounds (mainly anthocyanins), further supporting new valorisation chances and thus contributing to the competitiveness and sustainability of the winery industries. This study opens a new avenue for cross-industry innovation, merging fermentation traditions with a new eco-friendly production of functional beverages that contribute to transforming oenological residues into valuable co-products. Full article

Startups are essential to solving contemporary global financial and social challenges. The purpose of this paper is to provide a systematic review of the literature on the economic, environmental, and social values of sustainability in startups. Research papers that included the terms “sustainability in startups”, “sustainability of entrepreneurship”, “environmentally friendly new businesses”, “startups”, “entrepreneur”, “sustainable development”, “green economy”, “green investment”, “green development”, “financial sustainability”, “entrepreneurship performance”, and “agriculture entrepreneurship” were considered for analysis. The PRISMA 2020 protocol was used for the screening of relevant articles addressing economic, environmental, and social sustainability in startups. This study is limited to 42 research papers extracted from SCOPUS and DOAJ databases covering the period 2010 to 2024. Most of these provide literature on European, American, and Asian countries, indicating that startups prioritise the economic value of sustainability. However, the review of the literature demonstrates that startups are beginning to adopt a more balanced approach to sustainability as all three pillars addressing economic, environmental, and social values are represented. Sustainable practices improve startups’ performance. There is a need for active research in startup sustainability in the African context to address the research gap identified in the analysis of the literature. Full article

This study investigates why firms with large book–tax differences (BTDs) exhibit lower earnings persistence, particularly during periods of revenue declines. While prior literature has linked BTDs, especially large positive BTDs (LPBTDs), to earnings management, we propose an alternative explanation rooted in operational disruptions. Using a large panel of U.S. firms from 1995 to 2016, we examine whether short-term earnings persistence is affected by sales trends and the direction of BTDs. Our findings reveal that both large positive and large negative BTDs are significantly associated with reduced earnings persistence when sales decline. The effect is pronounced in both accrual and cash flow components of earnings. We develop and test a framework based on “operations theory,” which attributes this reduction to real business shocks, such as asset write-downs, facility closures, and reserve adjustments, that arise during sales decline periods. These results highlight the importance of distinguishing operationally driven BTDs from those arising through discretionary accruals. Our findings have implications for investors, regulators, and researchers seeking to interpret BTDs more accurately in volatile economic environments. Full article

Urban environmental issues are fundamental to ecological civilization development, with key stakeholders such as governments, enterprises, social organizations, and community residents playing crucial roles in the governance process. From a network governance perspective, this study innovatively applied social network analysis (SNA) to policy co-occurrence networks, analyzing over 2300 policy documents related to China’s urban environmental governance from 2017 to 2023 to investigate evolutionary trends. The key findings indicate the following. (1) The comparative analysis across two periods reveals that China’s urban environmental governance network structure has stabilized, with both network density and centralization indices showing an upward trend. (2) The degree of centrality and betweenness centrality shows that government agencies remain the core entities within the network, while the role and influence of business enterprises have steadily increased. (3) The participation of social organizations in governance continues to increase, but community public participation in governance is insufficient. Therefore, China’s ecological environment governance network has formed a network structure with the government as the leader, enterprises as the key role, and social organizations providing effective support. Full article

Research on smartphone lifespan is of high interest nowadays due to the growing number of smartphone users and the environmental impact associated with device turnover. Although the concept of smartphone lifespan varies in the literature, research defines the in-use lifespan as the period during which the user finds the device useful, i.e., until it becomes obsolete. Smartphone obsolescence is primarily influenced by both technological and psychological factors, making them the key determinants of the device’s lifespan. For this reason, it is essential to dedicate more research efforts to understanding smartphone lifespan and to developing clear guidelines and policies that can shift users’ perceptions, thereby improving lifespan estimation and encouraging prolonged use. This review synthesizes EU regulations and scientific literature, gathering comprehensive knowledge on key segments and events that affect the in-use lifespan of smartphones. Based on the data, several statistics were generated to provide a better understanding of the term “lifespan,” its multiple estimations, obsolescence issues, and factors affecting the estimated length of the in-use lifespan. Additionally, the research material was used to design a smartphone lifecycle model within the business process management software ARIS and to identify the End of Life (EoL) phase accordingly. Full article

The continuous evolution of technology compels higher education leaders to adapt to VUCA (volatile, uncertain, complex, and ambiguous) and BANI (brittle, anxious, non-linear, and incomprehensible) environments through innovative strategies that ensure institutional relevance. While VUCA emphasizes the challenges posed by rapid change and uncertain decision-making, BANI underscores the fragility of systems, heightened anxiety, unpredictable causality, and the collapse of established patterns. Navigating these complexities requires agility, resilience, and visionary leadership to ensure that institutions remain adaptable and future ready. This study presents a bibliometric analysis of digital academic leadership in higher education transformation, examining empirical studies, reviews, book chapters, and proceeding papers published from 2014 to 2024 (11-year period) in the Web of Science—Science Citation Index Expanded (SCIE) and Social Science Citation Index (SSCI). Using CiteSpace software (version 6.3. R1-64 bit), we analyzed 5837 documents, identifying 24 key publications that formed a network of 90 nodes and 256 links. The reduction to 24 publications occurred as part of a structured bibliometric analysis using CiteSpace, which employs algorithmic thresholds to identify the most influential and structurally significant publications within a large corpus. These 24 documents form the core co-citation network, which serves as a conceptual backbone for further thematic interpretation. This was the result of a multi-step refinement process using CiteSpace’s default thresholds and clustering algorithms to detect the most influential nodes based on centrality, citation burst, and network clustering. Our findings reveal six primary research clusters: “Enhancing Academic Performance”, “Digital Leadership Scale Adaptation”, “Construction Industry”, “Innovative Work Behavior”, “Development Business Strategy”, and “Education.” The analysis demonstrates a significant increase in publications over the decade, with the highest concentration in 2024, reflecting growing scholarly interest in this field. Keywords analysis shows “digital leadership”, “digital transformation”, “performance”, and “innovation” as dominant terms, highlighting the field’s evolution from technology-focused approaches to holistic leadership frameworks. Geographical analysis reveals significant contributions from Pakistan, Ireland, and India, indicating valuable insights emerging from diverse global contexts. These findings suggest that effective digital academic leadership requires not only technical competencies but also transformational capabilities, communication skills, and innovation management to enhance student outcomes and institutional performance in an increasingly digitalized educational landscape. Full article

This study examines stock market reactions to female board appointments among 34 publicly listed companies in Saudi Arabia between 2021 and 2024. We employ a multi-method approach covering 36 announcements. Our primary methodology is an event study, which we complement with two distinct robustness checks: the Local Projections (LP) method to capture the evolving nature of market responses and the Quantile-on-Quantile analysis to investigate how market conditions interact with the three phases surrounding the event—the anticipation period before the appointment, the appointment event itself, and the post-appointment adjustment period. This comprehensive methodological framework allows us to capture the immediate market response to appointment announcements and the longer-term implications for firm performance while accounting for various econometric challenges inherent in financial market data. Our findings reveal a negative market reaction that gradually intensifies, becoming marginally significant by the tenth trading day. This pattern suggests that investors in the Saudi market may initially view female board appointments with skepticism, potentially reflecting uncertainty about the impact of gender diversity in a traditionally male-dominated business environment. Furthermore, the evolution from 2021 to 2024 suggests a market that is progressively developing more sophisticated frameworks for evaluating female board appointments. Rather than exhibiting a monotonic trend toward either increasingly positive or negative reactions, the market appears to be engaging in a learning process characterized by periodic reassessments. Moreover, our results indicate that while the immediate event and anticipation phases yield mixed impacts across the return distribution, the adjustment period exhibits a robust and significantly negative interaction with market returns. These findings suggest that market overreactions, particularly during bullish periods, contribute to a pronounced correction effect following female board appointments. Full article

The intersection of digitalization and innovation has emerged as the most vital strategy to spur economic development and shape consumer choice. The study examines sustainable development, digital economic governance, and sustainable consumption, emphasizing the role of consumer awareness, tariff policy, and managerial practice in aligning business strategy with sustainable goals. Amidst global environmental challenges, a suitable tariff policy is of utmost significance to propel the digital economy and encourage sustainable development. This paper investigates how emerging tariff policies can advance trade competitiveness and environmental impacts and draws on a literature review and data collection for the period between 2000 and 2025. The article examines the disruptive function of digital technologies, AI, and big data in driving sustainable business practices and digitalization. It also discusses how such technologies can simplify tariff implementation, compliance, and stakeholder trust through behavioral insights drawn from secondary data analysis on a cross-country basis and official reports. The study identifies best practices in the coordination of tariff policy with international governance institutions. Empirical observation shows that innovative tariff approaches in digital economic governance can support long-term growth, increase international coordination, and guide global governance efforts in environmental sustainability and SDGs. The implications of the findings are relevant to policymakers, business leaders, and legal experts working on fast-paced global changes. Full article

The relationship between firm size and the financial performance of advertising and marketing companies remains understudied in the academic literature, including in the regional context. Using a panel data methodology, this study analyzes the impact of three proxies for firm size (total assets, number of employees, and sales) on the financial performance (return on assets and profit margin) of the 500 most profitable advertising and marketing companies from 16 Western European countries over the period 2019–2023. Weighted least squares regression analysis revealed statistically significant negative effects of all three proxies for firm size on financial performance, with the strongest negative effects on total assets on return on assets and sales on profit margin, which is similar to return on sales. Empirical data confirm the inverse relationship between total assets and their profitability; this indicates the advantages of resource-optimized business models with high management flexibility and effective use of intellectual capital compared to material-intensive structures. The inverse relationship between the number of employees and financial performance is due to higher operating personnel costs and the difficulty of effectively managing human resources as the number of employees increases. Increased sales negatively affect profit margins, demonstrating a decrease in the efficiency of converting revenue into profits as operations expand. These findings are important for developing effective financial management strategies and making investment decisions in the industry under study. The research contributes to SDGs 8, 9, and 12 by demonstrating how resource-optimized structures with higher management flexibility and effective use of intellectual capital can outperform material-intensive structures in the advertising and marketing industry. Full article