Search Results (119)

This study examines how corporate participation in green technology standard-setting affects two dimensions of green innovation–substantive and symbolic green innovation–through the mediating role of knowledge integration and across different stages of the firm life cycle. Analyzing panel data from Chinese A-share listed firms (2010–2023), we find that standard-setting participation significantly enhances both types of innovation, with a stronger and more enduring effect on substantive innovation. The effects exhibit clear life cycle heterogeneity: substantive green innovation is consistently enhanced across all stages of the firm life cycle, whereas symbolic green innovation is predominantly reinforced during the maturity stage. Grounded in the knowledge-based view and institutional theory, our findings highlight how institutional engagement fosters sustainable innovation by strengthening firms’ capacity for knowledge acquisition and integration. This research advances understanding of the strategic value of standard-setting in sustainability efforts and provides actionable insights for aligning standardization practices with long-term innovation goals. Full article

Personality type tools have been utilized to explain human behavior by organizing, classifying, and categorizing individuals into distinct personality types. Alternatively, problem-solving methods have been employed throughout project life cycles to enhance problem solving across all levels of the organizational workforce. This study evaluated the influence of personality tools and methods for problem solving on project success. The population comprised 29 active project managers employed in the engineering section of a large manufacturing firm, focusing on sustainable development projects. Quantitative study, through correlational analysis, demonstrates that personality tools facilitate the formation of effective project teams (p < 0.05) and that problem-solving methods significantly improve the likelihood of successful project completion (p < 0.05). This research presents a novel approach and a decision framework for projects that identify the preferred methods for solving problems associated with various MBTI profiles, and demonstrate that where MBTI is utilized as a guiding tool for effective project team formation, ESTJ, ENTJ, ISTJ, and INTJ are prioritized profiles. The research concludes that selecting methods for solving problems according to the nature of the problem impacts overall project success, with the Five Whys methodology contributing when used for root cause analysis. Therefore, it is essential to enhance project managers’ awareness that specific tools and methodologies can aid in the formation of teams that successfully complete projects. Full article

Corporate social responsibility (CSR) plays a growing role in fostering transparency, stakeholder trust, and long-term firm sustainability, particularly in emerging markets. Firms that actively engage in CSR are more likely to disclose credible financial information, which can reduce the incentive to withhold adverse news and thereby limit stock price crash risk (SPCR). This study investigates the impact of CSR on SPCR, while also examining whether this relationship varies across different stages of the firm life cycle (FLC). The analysis is based on an unbalanced panel of listed non-financial firms from the Pakistan Stock Exchange (PSX), covering the period from 2009 to 2023. Financial data were obtained from the State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP), while market data were collected from the PSX. Employing fixed-effects robust regression models and two crash risk proxies, negative conditional skewness (NCSKEW) and down-to-up volatility (DUVOL), the results reveal a consistent and significant negative association between CSR and SPCR. This suggests that firms with stronger CSR engagement are less prone to extreme negative stock returns. However, the moderating effect of FLC is only evident at the introduction and decline stages, indicating that the effectiveness of CSR in reducing crash risk depends on a firm’s position in its organizational life cycle. These findings contribute to the literature on CSR and financial stability in emerging markets and offer practical implications for investors, managers, and policymakers seeking to promote risk-aware, socially responsible corporate strategies. Full article

This study constructs a research model with regulation and mediation based on the resource dependence theory to explore the nonlinear relationship between ESG responsibility fulfillment and firm value. This study uses a sample of Chinese A-share listed manufacturing firms from 2015 to 2022 and conducts empirical analysis using STATA version 18.0. The results indicate a U-shaped relationship between ESG responsibility fulfillment and firm value. Stakeholders’ interests play a partial mediating role in the above relationship. Moreover, institutional investors’ shareholding further strengthens the positive association between ESG responsibility fulfillment and stakeholder interests. The firm life cycle has a heterogeneous effect on the relationship between ESG responsibility fulfillment and stakeholder interests. Specifically, firms in the maturity stage exhibit the most pronounced protection of stakeholder interests, whereas firms in the decline stage show relatively weaker protection effects. Additionally, there is a complementary interaction between the firm life cycle and institutional investors’ shareholding. This combination significantly enhances the positive moderating effect of institutional investors’ shareholding on the relationship between ESG responsibility fulfillment and stakeholder interests only when firms are in the growth or decline stages. This study not only expands the boundaries of resource dependence theory, but also provides management insights for sustainable practices in the real economy. Full article

This study is based on data from 15,436 firm-year observations of Chinese A-share listed companies during the period 2009–2022 and examines the impact of ESG on firm value and the mediating role of corporate innovation capability. Firm value is proxied by Tobin’s Q, ESG is measured using Huazheng ESG scores, and innovation capability is represented by a weighted patent index. Using fixed-effects models and robustness text, we find that ESG has a significant positive impact on firm value, and this effect is transmitted through firms’ innovation capability. Further analysis reveals that the positive impact of ESG on firm value is more pronounced in non-SOE, firms in the maturity stage, and firms operating in highly competitive markets. Robustness tests confirm that the results are consistent and reliable. The findings suggest that ESG should be regarded as a strategic resource rather than a burden, as it creates firm value by enhancing innovation capability. The conclusions of this study not only extend the literature on the ESG–firm value nexus in the context of emerging markets but also provide practical implications for managers and policymakers seeking to integrate ESG into corporate strategy. Full article

Driven by the new wave of technological revolution and industrial transformation, firms are accelerating strategic change to gain new competitive advantages. Situated within a complex adaptive system, firms must adapt to highly dynamic and uncertain external environments by adjusting executive cognitive structures, reconfiguring resources and capabilities, and strengthening collaboration with industrial ecosystem elements; hence, digital strategic change is characterized by continuous evolution. Using a sample of Chinese A-share listed firms from 2015 to 2023, this study develops a “cognition–capability–strategy” pathway model grounded in upper echelons theory and dynamic capabilities theory to examine how executive cognitive styles, i.e., cognitive flexibility and cognitive complexity, drive digital strategic change via absorptive capacity and how environmental dynamism moderates these relationships. The findings show that executive cognition, as a decision node in strategic change, can dynamically adjust firms’ strategic paths by activating absorptive capacity in rapidly changing external information environments; environmental dynamism differentially affects the two cognitive styles. Heterogeneity tests further indicate that the role of executive cognition varies significantly with regional digital economy development levels, firm life cycle, and industry factor intensities. The study reveals how firms can respond to high environmental uncertainty through cognition–strategy alignment and resource capability reconfiguration in a complex adaptive system, providing theoretical references and practical insights for emerging economies to advance digital transformation and enhance competitiveness. Full article

To contribute to the emerging knowledge on the sustainability impacts of small, circular clothing reuse businesses in the US, we employed a case study research methodology to empirically test the case of Circular Thrift, an innovative, community-based startup business model with potential to create a circular fashion ecosystem on the firm level. Primary data on circular activities were collected on site within the first year of business operation. The Life Cycle Assessment methodology was conducted to assess environmental impact avoidance. The social impact of reused products was assessed to contribute to a more comprehensive understanding of the benefits of born circular business models. Tangible environmental benefits accounted for the collection of 10,772 apparel units and resulted in the diversion of 2311.05 kg (approximately 5095 pounds) of clothing from the local landfill. Social impact accounted for 45.86% of the collected items that were given back to the local community. Empirical testing of the environmental benefits of a Circular Thrift business model makes a strong case for scaling up reusable efforts as a means to address post-consumer textile waste at the local community level within the US, where formal and government-regulated resource collection and recovery systems still do not exist. Full article

Industry 4.0 (I4.0) is reshaping manufacturing by integrating advanced digital technologies and is increasingly seen as an enabler of the circular economy (CE). However, most research treats digitalisation and circularity separately, with limited empirical insight regarding their combined implementation. This study investigates I4.0 adoption to support sustainability and CE across industries, focusing on how enterprise size influences adoption patterns. Based on survey data from 69 enterprises, the research examines which technologies are applied, at what stages of the product life cycle, and what barriers and drivers influence uptake. Findings reveal a modest but growing adoption led by the Internet of Things (IoT), big data, and integrated systems. While larger firms implement more advanced tools (e.g., robotics and simulation), smaller enterprises favour accessible solutions (e.g., IoT and cloud computing). A positive link is observed between digital adoption and CE practices, though barriers remain significant. Five main categories of perceived obstacles are identified: political/institutional, financial, social/market-related, technological/infrastructural, and legal/regulatory. Attitudinal resistance, particularly in micro and small enterprises, emerges as an additional challenge. Based on these insights, and to support the twin transition, the paper proposes targeted policies, including expanded funding, streamlined procedures, enhanced training, and tools for circular performance monitoring. Full article

The increasing complexity of the hotel industry necessitates the implementation of sophisticated cost systems capable of delivering accurate and relevant cost information to support managerial decision-making. Investigating the determinants of cost system design is crucial, given that no single accounting system is universally applicable across all business contexts. This study addresses a critical gap by examining the key drivers of cost system sophistication through the theoretical frameworks of contingency and upper echelons theories, focusing specifically on the Greek hotel sector. Employing multiple regression analysis, the findings reveal that firm size, cost structure, the importance of cost information in decision-making, and the integration of information technology significantly influence the complexity of cost systems. Conversely, factors such as competition, service diversity, business strategy, organizational life cycle, and executive characteristics showed no statistically significant impact. These findings contribute to management accounting and hospitality literature by integrating theoretical perspectives and identifying key determinants of cost system sophistication. Moreover, the study offers practical insights for designing cost systems that meet the specific needs of the hotel industry. Full article

In scientific literature biosynthesis of gold and silver nanoparticles and synthesis of these nanoparticles using small organic molecules such as citrate have been called: ‘green’. It has also been often stated that ‘green’ synthesis of gold and silver nanoparticle is environment(ally) friendly or ecofriendly. The characterization environment(ally) friendly or ecofriendly is commonly comparative. The comparison is between ‘green’ and ‘chemical’ synthesis. The few available comparative life cycle assessments addressing the environmental impacts of ‘green synthesis’ of Ag and Au nanoparticles, if compared with ’chemical’ synthesis, strongly suggest that a ‘green’ synthesis should not be equated with being environment(ally) friendly or ecofriendly. The term ‘green’ for Au and Ag nanoparticles obtained by ‘green’ synthesis is a misnomer. There is a case for only using the terms ecofriendly or environment(ally) friendly for nanoparticle synthesis when there is a firm basis for such characterization in comprehensive comparative cradle-to-nanoparticle life cycle assessment, taking into account the uncertainties of outcomes. Full article

It is increasingly recognized that the twin transitions of digitalization and green transformation are pivotal to achieving sustainable development. This study examines how digital trade affects corporate green total factor productivity (GTFP), using panel data from Chinese A-share listed firms and 287 prefecture-level cities in Mainland China from 2012 to 2022. The results demonstrate that digital trade exerts a significant positive impact on GTFP, primarily through improvements in technical efficiency, with heterogeneous effects across different stages of the corporate life cycle. Endogeneity concerns are carefully addressed through instrumental variable estimation and quasi-experimental designs, and robustness checks confirm the reliability of the findings. Mechanism analyses further reveal that digital trade enhances GTFP by stimulating green technological innovation and optimizing supply chain management. Importantly, threshold regression reveals non-linear effects. Both the level of digital trade and institutional factors, such as environmental regulation, intellectual property protection, and market integration, moderate the relationship between digital trade and GTFP in U-shaped, N-shaped, and other positive non-linear patterns. These insights enhance the understanding of how digitalization interacts with institutional contexts to drive sustainable productivity growth, providing practical implications for policymakers seeking to optimize digital trade strategies and complementary regulatory frameworks. Full article

The European Union’s Artificial Intelligence Act (EU AI Act) is expected to be a major legal breakthrough in an attempt to tame AI’s negative aspects by setting common rules and obligations for companies active in the EU Single Market. Globally, there is a surge in investments to encourage research, development and innovation in AI that originates both from governments and private firms. The EU recognizes that the new Regulation (EU) 2024/1689 is difficult for start-ups and SMEs to cope with and it announced the release of tools, in the near future, to ease that difficulty. To facilitate the active participation of SMEs in the AI arena, we propose a framework that could assist them to better comply with the challenging EU AI Act during the development life cycle of an AI system. We use the spiral SDLC model and we map its phases and development tasks to the legal provisions of Regulation (EU) 2024/1689. Furthermore, the framework can be used to promote innovation, improve their personnel’s expertise, reduce costs and help the companies avoid the proposed substantial fines described in the Act. Full article

This study examines the impact of female executive representation on ESG investment efficiency within South Korea’s male-dominant corporate culture. It reveals that firms with higher female executive presence demonstrate enhanced ESG efficiency, particularly in growth stages where strategic management and resource allocation are crucial. Additionally, the research highlights that the effect varies across different corporate life cycle stages, underscoring the dynamic interplay between gender diversity and corporate governance practices. The findings advocate for more inclusive leadership as a catalyst for improved corporate sustainability and ethical standards, suggesting that gender diversity is not only a marker of social progress but also a strategic asset in the global push for sustainable development. Full article

Family businesses play a vital role in the global economy as an organizational form that has evolved over time. However, Chinese family firms generally suffer from insufficient investment in research and development. Based on panel data of Chinese listed family firms from 2008 to 2022, this study investigates the impact of government green subsidies on family firms’ green innovation, along with the heterogeneity of such effects under different scenarios. The results show that government green subsidies significantly promote both strategic and substantive green innovation. The moderating effect analysis reveals that economic policy uncertainty weakens the baseline effect. Further analysis confirms that the positive impact of green subsidies is achieved by alleviating firms’ R&D funding constraints. Heterogeneity analysis indicates that green subsidies have a stronger effect on non-heavily polluting firms; they promote substantive green innovation more effectively in firms with low managerial green cognition, and strategic green innovation in those with high cognition. Additionally, the effects vary across the firm life cycle: green subsidies enhance strategic green innovation during the growth and maturity stages, and substantive green innovation during the growth and decline stages. This study reveals the mechanisms through which government green subsidies affect green innovation in family firms and offers policy implications for promoting sustainable development in the family business sector. Full article

The present study focuses on how various firm characteristics influence their dividend payout policies. The study finds empirical evidence with regard to primarily two aspects of corporate dividend decisions—dividend increase and decrease, whose exploration is inadequate in the past literature. The random effect logistic regression has been considered in order to analyze the panel dataset from 2001–2002 to 2021–2022 including 3739 listed Indian firms. The empirical models are formatted based on the relevant dividend-related theories in the Indian context such as the residual theory, transaction cost theory, signalling theory, etc. Further, additional tests are conducted regarding the robustness of the reported results. The empirical results document that firm size, profitability, promoter holdings, cash holdings, and life cycle have a favourable influence on the propensity of both increasing and decreasing dividend payouts. In contrast, earnings volatility, leverage, and free cash flow reduce firms’ tendency to increase and decrease dividend payments. These results indicate that higher liquidity and ownership concentration provide firms with greater financial flexibility to adjust their dividend policies as per their prevailing opportunities. The findings of the study offer insightful information about how to arrange dividend policies with firm-specific traits which will be helpful for managers and investors to make better decisions. Full article