Search Results (4,106)

This study examines how territorial peripherality and regional entrepreneurial ecosystem quality shape the growth trajectories of Italian university spin-offs, with a specific focus on internal areas. Combining firm-level data from NETVAL and AIDA with territorial indicators from the Italian Strategy for Inner Areas (SNAI) and ISTAT, we construct a panel of 655 university spin-offs observed between 2018 and 2022. Two composite indicators capture provincial peripherality and regional ecosystem quality. Using mixed-effects models, we analyse their effects on revenue and employment growth. Results show that stronger regional ecosystems support employment growth overall and significantly amplify revenue growth for spin-offs located in internal areas, partially compensating for structural territorial disadvantages. The findings highlight the importance of place-based ecosystem policies and the strategic role of universities in fostering knowledge-based development and proxy indicators of territorial resilience in peripheral regions. Full article

Sustainable entrepreneurship is essential for promoting the integrated development of economic, environmental, and social systems, particularly in emerging economies such as China. Drawing on social identity theory and resource bricolage theory, this study examines how founder identity influences sustainable entrepreneurial behavior and also explores the mediating role of entrepreneurial bricolage and the moderating effect of perceived uncertainty. Using survey data from 210 Chinese new ventures, the hypotheses were tested by structural equation modeling and moderated mediation analysis. The empirical results indicate that founder identity positively influences sustainable entrepreneurship, with entrepreneurial bricolage partially mediating this relationship. Moreover, perceived uncertainty weakens the positive relationship between founder identity and bricolage. It also reduces the indirect effect of bricolage on sustainable entrepreneurship, indicating that higher uncertain environments constrain entrepreneurs’ willingness to rely on bricolage as a resource acquisition strategy. By elucidating the underlying mechanisms and boundary conditions through which founder identity influences sustainable entrepreneurial behavior, this study enriches micro-level research on sustainable entrepreneurship. It also provides practical insights for entrepreneurs and policymakers in strengthening strategic resilience and fostering the development of sustainable entrepreneurship. Full article

This study establishes a comprehensive structural isomorphism between Conway’s Game of Life and the entrepreneurial process, analysing the latter as a complex adaptive system governed by non-linear dynamics rather than linear predictability. Through a rigorous qualitative approach based on a systematic literature review and abductive inference, the research identifies and correlates four fundamental dimensions: uncertainty, adaptability, growth, and sustainability. Transcending traditional metaphorical comparisons, this paper introduces a novel mathematical model that modifies Conway’s deterministic logic by incorporating an «Agency» variable (A). This critical addition quantifies how an entrepreneur’s internal capabilities can counterbalance environmental pressures (neighbourhood density) to determine survival thresholds, effectively transforming the simulation into a «Game of Life with Agency» where participants actively influence their viability potential (Ψ). The analysis explicitly correlates specific algorithmic configurations with real-world business phenomena: high-entropy initial states («The Soup») mirror early-stage market uncertainty where outcomes are probabilistic; «gliders» represent the necessity of strategic pivoting and continuous displacement for survival; and «oscillators» symbolise dynamic sustainability through rhythmic equilibrium rather than static permanence. Furthermore, the study validates the «Gosper Glider Gun» pattern as a model for scalable, generative growth. By bridging abstract systems theory with managerial practice, the research positions these simulations as «mental laboratories» for decision-making. The findings theoretically validate iterative methodologies like the Lean Startup and conclude that successful entrepreneurship operates on the «Edge of Chaos», providing a rigorous framework for navigating high stochastic uncertainty. Full article

This study examines how inclusive finance organisations are adapting to the European Union (EU)’s digital–green twin transition and how regulatory design can reinforce this alignment. Drawing on qualitative insights from 26 institutions—including microfinance organisations, small and medium-sized enterprise finance providers and socially oriented fintechs—across the EU and neighbouring countries, the analysis identifies how digitalisation, financial inclusion and environmental sustainability are being integrated into organisational strategies. The findings show that hybrid models, built on partnerships between nationally rooted microfinance institutions and cross-border fintech platforms, enable scalable, high-tech, high-touch ecosystems that align closely with sustainability objectives. The study argues that a coordinated EU-wide regulatory sandbox would advance inclusive, green financial innovation and build resilience across the inclusive finance ecosystem. Full article

Industrial deployment of photocatalysis for recalcitrant wastewater treatment remains constrained by economic uncertainty and scale-up limitations. This study first reviews the current technological routes and application status of photocatalytic processes and then addresses the key obstacles through a quantitative techno-economic assessment (TEA) of a full-scale (10,000 m³/d) photocatalytic wastewater treatment plant. A process-level model integrating mass- and energy-balance calculations with equipment sizing was developed for a 280 kW UVA-LED reactor using Pt/TiO₂ as the benchmark catalyst. The framework quantifies capital (CAPEX) and operating (OPEX) expenditures and evaluates the overall economic performance of the photocatalytic treatment system. Sensitivity analysis reveals that the catalyst replacement interval and electricity tariffs are the principal economic bottlenecks, whereas improvements in catalyst performance alone provide limited cost leverage. Furthermore, the analysis indicates that supportive policy mechanisms such as carbon-credit incentives and electricity subsidies could substantially enhance economic feasibility. Overall, this work establishes a comprehensive integrated TEA framework for industrial-scale photocatalytic wastewater treatment, offering actionable design parameters and cost benchmarks to guide future commercialization. Full article

Digital transformation is crucial for small- and medium-sized enterprises (SMEs), as it enhances organizational efficiency, productivity, and competitiveness by enabling process automation, cost reduction, and faster decision-making. It also allows for SMEs to leverage emerging technologies, improve customer engagement, and access new markets, thereby fostering innovation and sustainable growth. The proposed study aims to reveal the most significant aspects regarding the digital transformation in the SME business environment. Even though the concept of digital transformation has gained much research interest, SMEs still face significant obstacles, including limited financial resources, a shortage of skilled personnel, and resistance to change within organizational culture. A systematic literature review on the digital transformation of SMEs was conducted to reveal the enablers and obstacles encountered by these businesses in their pursuit of digital maturity. This review underscores the importance of human resources and digital maturity, emphasizing the need for a digitally skilled workforce and a culture of continuous learning. The results can enforce future research on this subject and could focus on the relationship between digital transformation and organizational performance, the role of digital entrepreneurship, and the long-term effects of digital transformation, providing valuable insights to help SMEs navigate the complexities of digital transformation and achieve sustainable growth. Full article

This study evaluates whether an AI-built DeFi website case can match professionally developed DeFi platforms in digital marketing performance, innovation-related strategic behavior, and entrepreneurial impact. Using a multi-method design, we compare five established DeFi websites (Aave, Lido, Curve, MakerDAO, Uniswap) against one AI-built interface (Nexus Protocol). The analysis is designed as a five-platform benchmarking study of established professional DeFi websites, complemented by one AI-built case (Nexus Protocol) used as an illustrative comparison rather than a representative class of AI-built interface. The objectives are to (i) test differences in traffic composition and acquisition strategies, (ii) quantify how engagement signals predict authority and branded traffic, (iii) examine cognitive processing and trust-cue attention via eye tracking, and (iv) model emergent engagement and authority dynamics using agent-based simulation (ABM). Web analytics (March–October 2025) show significant variation in traffic composition across professional platforms (ANOVA F = 3.41, p = 0.0205), while regression models indicate that time on site and pages per visit positively predict Authority Score (R² = 0.61) and Branded Traffic (R² = 0.55), with bounce rate exerting an adverse effect. PCA and k-means clustering identify three strategic archetypes (innovation-driven, balanced-growth, efficiency-focused). Eye-tracking results show that professional interfaces generate tighter fixation clusters and shorter scan paths, indicating higher cognitive efficiency. In contrast, fixation on key UI elements and trust cues is comparable across interface types. ABM outputs further suggest that reduced engagement depth in the AI-built interface yields weaker long-run branded-traffic and authority trajectories. Overall, the study provides an integrated evaluation framework and evidence-based implications for AI-driven interface design in high-trust fintech environments. Full article

This study investigates the interplay between asset quality, financial ratios, and market valuation in Indian commercial banks over a twelve-year period (2014–2025). Using a hybrid approach combining Structural Equation Modeling, correlation analysis, and trend evaluation, the research examines whether Non-Performing Assets (NPAs) influence market capitalization directly or through Return on Equity (ROE) as an intermediary. The findings reveal that NPAs exert a significant negative impact on both ROE and market value, while Net Interest Margin (NIM) emerges as a strong positive determinant of valuation. Conversely, Capital Adequacy Ratio (CAR), though vital for regulatory compliance, shows no direct effect on market prices. Mediation analysis challenges conventional assumptions, indicating that profitability alone does not fully explain valuation dynamics. These insights underscore the need for integrated strategies addressing asset quality and operational efficiency, offering practical implications for policymakers, investors, and bank management in strengthening resilience and optimizing shareholder value. Full article

Traditional firefighting protective clothing materials, such as meta- and para-aramid fibers, provide significant thermal protection but often fail to adequately manage heat stress and moisture, especially due to the incorporation of semi-permeable membranes within the three-layer garment structure known as turnout gear. Integrating hydrogels into textiles for firefighting personal protective clothing (PPC) could enhance thermoregulation and moisture management, providing firefighters with improved comfort and safety. Hydrogels are three-dimensional, hydrophilic polymer networks capable of holding substantial amounts of water. Their high water content and excellent thermal properties make them ideal for cooling applications. Therefore, this review focuses on the potential of hydrogel-infused textiles to improve firefighters’ PPC by enhancing thermal comfort and moisture management. Specifically, hydrogel structures and engineered properties for enhanced performance are presented, including smart hydrogels and hydration customization mechanisms. Hydrogel integration into firefighting PPC for moisture management and improved thermoregulation is explored, including current and future market projections and state-of-the-art clinical trial findings. Overall, the future of hydrogel-integrated textiles for firefighting PPC is bright, with numerous advancements and trends poised to enhance the safety, comfort, and performance of protective gear. Full article

Grounded in the Theory of Planned Behavior (TPB), this study examines how perceived educational support influences entrepreneurial intentions among university students in India and the People’s Republic of China (PRC), through the mediating effects of entrepreneurial attitude, subjective norms, and perceived behavioral control. It further explores how gender and cultural context moderate these relationships, extending the TPB into cross-cultural and gendered domains. Using survey data from 734 undergraduate students, structural equation modeling was employed to test the proposed model. The results reveal that perceived educational support significantly enhances entrepreneurial attitude, subjective norms, and perceived behavioral control in both contexts, although the magnitude and pathways differ across gender and country. Entrepreneurial attitude and perceived behavioral control emerge as consistent predictors of entrepreneurial intention, while subjective norms exert a greater influence for Indian women. These results highlight that entrepreneurial intentions are culturally and gender-contingent, challenging TPB’s universal applicability. The study advances TPB-based entrepreneurship research by embedding perceived educational support within a contextualized, gender-sensitive framework, contributing to a deeper understanding of entrepreneurship education in Asia. These insights can guide universities and policymakers in designing entrepreneurship education that fosters inclusive innovation across diverse cultural contexts. Full article

Recommendation systems are popular information systems that help consumers manage information overload. Whilst personality has been recognised as an important factor influencing consumers’ choice, it has not yet been fully exploited in recommendation systems. This study proposes a restaurant recommendation approach that integrates customer personality traits, opinions and preferences, extracted either directly from online review platforms or derived from electronic word of mouth (eWOM) text using information extraction techniques. The proposed method leverages the concept of venue personality grounded in personality–brand congruence theory, which posits that customers are more satisfied with brands whose personalities align with their own. A novel model is introduced that combines fine-tuned BERT embeddings with linguistic features to infer users’ personality traits from the text of their reviews. Customers’ preferences are identified using a custom named-entity recogniser, while their opinions are extracted through structural topic modelling. The overall framework integrates neural collaborative filtering (NCF) features with both directly observed and derived information from eWOM to train an extreme gradient boosting (XGBoost) regression model. The proposed approach is compared to baseline collaborative filtering methods and state-of-the-art neural network techniques commonly used in industry. Results across multiple performance metrics demonstrate that incorporating personality, preferences and opinions significantly improves recommendation performance. Full article

Problem: Entrepreneurship education continues to expand, yet it remains fragmented across disciplines and loosely connected to the knowledge, innovation, and venture ecosystems that shape entrepreneurial success. At the same time, AI is transforming research, collaboration, and venture development, but its use in education is typically limited to narrow, task-specific applications rather than ecosystem-level integration. Objective: This paper seeks to develop a comprehensive conceptual model for integrating AI into entrepreneurship education by positioning AI as a connective infrastructure that links and activates the knowledge, innovation, and venture ecosystems. Methods: The model is derived through an integrative synthesis of literature, programs, and activities on entrepreneurship education, ecosystem-based learning, and AI-enabled research and innovation practices, combined with an analysis of gaps in current educational approaches. Key Findings: The proposed model defines a progressive learning pathway consisting of (1) AI competency training that builds foundational capacities in critical judgment, responsible application, and creative adaptation; (2) AI praxis labs that use AI-curated ecosystem data to support iterative, project-based learning; and (3) venture studios where students scale outputs into innovations and ventures through structured ecosystem engagement. This pathway demonstrates how AI can function as a structural mediator of problem definition, research design, experimentation, analysis, and narrative translation. Contributions: This paper reframes entrepreneurship education as an iterative, inclusive, and ecosystem-connected process enabled by AI infrastructure. It offers a new theoretical lens for understanding AI’s educational role and provides actionable implications for curriculum design, institutional readiness, and policy development while identifying avenues for future research on competency development and ecosystem impacts. Full article

With the growing demand for eco-friendly food packaging, poly(butylene adipate-co-terephthalate) (PBAT)/polylactic acid (PLA) composite films have emerged as promising biodegradable alternatives, but their inherent limitations (e.g., poor antioxidant capacity, weak UV stability, and insufficient antimicrobial activity) hinder practical applications. This study aimed to address these drawbacks by incorporating Rosmarinus officinalis L. extract (RM) as a natural multifunctional additive. PBAT/PLA/RM blend films with RM concentrations of 0.1%, 0.3%, 0.5%, and 1% were fabricated via melt extrusion and blown film processing. Key characterizations were conducted to evaluate thermal stability, mechanical properties, morphology, antioxidant activity, UV-shielding performance, antimicrobial efficacy, and biodegradability. The results showed that RM significantly enhanced the antioxidant capacity of the films, with the highest DPPH radical scavenging activity achieved at 0.3% RM. UV-blocking performance improved incrementally with increasing RM concentration, and films containing ≥0.5% RM filtered over 90% of UVA and UVB radiation. All composite films met biodegradability standards, with over 90% degradation observed after 240 days of composting, though RM prolonged the initial degradation stage by inhibiting early microbial activity. However, the antimicrobial effect of RM was limited, and concentrations exceeding 1% caused film stickiness, impeding processing. This work demonstrates that RM is a viable natural additive for functionalizing PBAT/PLA films, offering enhanced antioxidant and UV-shielding properties while maintaining biodegradability, thus providing a promising solution for sustainable food packaging. Full article

Thermal and nuclear power systems require materials capable of sustaining high mechanical and thermal loads over prolonged service durations. Among these, 9Cr heat-resistant steels are particularly attractive due to their superior mechanical strength and extended creep rupture life, making them suitable for extreme environments. In this study, multiple machine learning models were explored to predict the creep rupture life of 9Cr heat-resistant steels. A comprehensive dataset of 913 samples, compiled from experimental results and literature, included eight input variables—covering chemical composition, stress, and temperature—and one output variable, the creep rupture life. The optimized artificial neural network (ANN) model achieved the highest predictive accuracy with a regularization coefficient of 0.01, 10,000 training iterations, and five hidden layers with 30 neurons per layer, attaining an R² of 0.9718 for the test dataset. Beyond accurate prediction, single- and two-variable sensitivity analyses were used to elucidate statistically meaningful trends and interactions among the input parameters governing creep rupture life. The analyses indicated that among all variables, test conditions—particularly the test temperature—exert a pronounced negative effect on creep life, significantly reducing durability at elevated temperatures. Additionally, an optimization module enables identification of input conditions to achieve desired creep life, while the Index of Relative Importance (I_RI) and quantitative effect analysis enhance interpretability. This framework represents a robust and reliable tool for long-term creep life assessment and the design of 9Cr steels for high-temperature applications. Full article

This study investigates the configurational pathways enabling women in Oman to translate entrepreneurial intentions into technology venture creation. By integrating institutional theory and resource-based view, we develop a novel framework examining how formal institutional support (FIS), informal institutional support (IIS), and digital self-efficacy (DSE) interact in Oman’s conservative context. We emphasize the significant enabling role of work–life balance resources (WLBR) and the cultural legitimacy of spousal endorsement. Our mixed-methods design utilizes survey data from 418 female IT graduates and 20 semi-structured interviews, analyzed through fuzzy-set Qualitative Comparative Analysis (fsQCA). The findings indicate that FIS predicts entrepreneurial intention (β = 0.34, p < 0.001) but not venture creation (OR = 0.85, p = 0.298), revealing a visibility gap in policy implementation. IIS predicts venture creation (OR = 1.43, p = 0.033), with spousal endorsement acting as a cultural legitimacy signal. DSE alone fails to predict venture creation but is vital when combined with WLBR. FsQCA identifies a sufficient configuration pathway characterized by the combination of spousal endorsement, domestic support, DSE, and WLBR with solution consistency of 0.93 and coverage of 0.78. WLBR is a necessary condition with necessity consistency of 0.96, demonstrating that venture creation is improbable without it. Qualitative evidence shows founders reposition conservative norms as legitimacy signals, while non-founders emphasize funding barriers despite policy awareness. We recommend that policymakers subsidize care infrastructure, leverage women-led community networks for targeted outreach, and formalize state-backed legitimacy programs that reduce kinship dependency while building autonomy-focused alternatives. Full article