Search Results (930)

As the main drivers of the market economy, enterprises must fully grasp the importance and urgency of building an ecological civilization and hasten the transition to green practices. Due to the fundamental goal of enterprises being to maximize profits, the cost-effectiveness of enterprises is directly related to their initiative and implementation effectiveness in carrying out green transformation. This article uses panel data from heavily polluting companies listed on the Shanghai and Shenzhen stock exchanges in China from 2011 to 2020 to empirically test the cost-economic effects of corporate green transformation (CGT). Results reveal: (1) CGT has a positive effect on firm performance, and managerial incentives and capital intensity can strengthen the positive relationship between CGT and firm performance. In addition, in economically developed regions with high levels of environmental regulation, the green transformation of heavily polluting enterprises with lower management agency costs has a more significant positive impact on corporate performance. (2) Environmental costs mediate the link between CGT and firm performance, with the mediating effect of corporate environmental costs playing a role only in the non-three major economic circles. Full article

This study examines the structural relationships among vendor competency, perceived sanitation and safety, high-value gastronomy experiences, and behavioral intentions in Bangkok’s street food tourism. Using survey data and PLS-SEM, the results indicate that vendor competency significantly enhances both perceived sanitation and safety and high-value gastronomy experiences. Perceived sanitation and safety further strengthens experiential value and partially mediates this relationship. However, contrary to conventional expectations, high-value gastronomy experiences exhibit a significant negative effect on behavioral intentions, suggesting a novelty-seeking paradox in exploratory tourism contexts. This study contributes in three ways: (1) by positioning vendor competency as a foundational driver of experiential value in informal food settings, (2) by integrating sanitation and safety into experiential value formation, and (3) by challenging the linear satisfaction–loyalty assumption through evidence of paradoxical tourist behavior. The findings offer theoretical and managerial implications for gastronomy tourism and destination management. Full article

This paper examines leadership characteristics within local self-governments in the Republic of Serbia through a comparative analysis of leaders’ self-assessments and associates’ evaluations. Drawing on the Johari Window framework, the study explores differences in the perception of leadership attributes from two complementary perspectives. The sample consisted of 150 participants occupying managerial positions within different municipal administrations. The findings indicate that capability is the dominant leadership attribute across both respondent groups, followed by energy, reliability, intelligence, and responsibility. However, notable discrepancies were identified between self-perception and external evaluation, particularly regarding adaptive and interpersonal characteristics. The results further suggest that leadership perception in transitional institutional environments is strongly influenced by organizational uncertainty and institutional instability. Emotional and relational attributes appear to be less emphasized, whereas functional competencies and managerial effectiveness remain highly valued. The study contributes to contemporary leadership research by highlighting the importance of contextual and relational dimensions in the interpretation of leadership characteristics. In addition, the findings offer practical implications for leadership development within public administration systems. Full article

Patient capital is widely regarded as a key source of funding for corporate green technological innovation. However, existing research lacks systematic comparisons of its mechanisms, transmission pathways, and contingency characteristics across internal and external contexts. This study therefore examines how patient capital influences green technological innovation and how this influence varies across capital types, ESG channels, and internal versus external environments. The results reveal a robust positive correlation between patient capital and green innovation. Mechanism tests indicate that patient capital indirectly affects green innovation through three pathways: enhancing overall ESG (Environmental, Social, and Governance) performance and synergistically strengthening the environmental, social, and governance sub-dimensions. Stable equity exerts a stronger influence on the governance dimension than relationship-based debt. Contingency analysis further shows that managerial green cognition generally amplifies the effect of patient capital, whereas media attention primarily affects equity capital, reflecting a pattern where “managerial green cognition universally amplifies the effect, while media attention specifically targets equity capital.” This study provides empirical evidence on how patient capital drives green innovation. Future policies should promote precise alignment between capital attributes and firms’ internal and external contexts, thereby shifting green innovation from isolated efforts toward systemic synergy. Full article

Artificial intelligence is one of the key technologies of the Fourth Industrial Revolution and is increasingly significant for companies’ economic performance. Small and medium-sized enterprises (SMEs), the foundation of economic development in most national economies, face numerous challenges and opportunities in applying artificial intelligence in business. This paper aims to examine the economic effects of applying artificial intelligence in SMEs, with a special emphasis on labor productivity, business process efficiency, and reduced operating costs. Empirical research was conducted on a sample of 228 SMEs using a questionnaire, with the data analyzed using multiple linear regression. The research results show that different applications of artificial intelligence have a statistically significant, positive impact on labor productivity and on reducing operating costs. In contrast, their impact on business process efficiency is moderate and partially limited. The operational application of artificial intelligence, such as automation and data analysis, has proven to be the most important factor in economic effects. At the same time, its application in managerial decision-making also has a significant, but somewhat weaker impact. On the other hand, the mere growth of AI applications over time does not necessarily lead to increased efficiency without targeted and concrete implementation. The paper’s results contribute to understanding the role of AI in transforming SMEs and highlight the importance of targeted investments in operational and management applications of AI. The paper provides practical implications for entrepreneurs and economic policymakers in fostering sustainable, competitive development of SMEs. Full article

The European Union’s Common Agricultural Policy promotes extensive farming to achieve sustainability goals, yet dairy production in the Baltic states and Poland has continued to intensify, particularly after the abolition of milk quotas in 2015. This study assesses the technical efficiency of intensive and extensive dairy farms in Lithuania, Latvia, Estonia, and Poland over the period 2015–2022, using Data Envelopment Analysis (DEA) combined with a meta-frontier framework that explicitly accounts for technological heterogeneity across production systems. Farms are classified as intensive or extensive based on stocking density relative to forage area, applying the threshold of one livestock unit per hectare. Results show that in all Baltic countries intensive farms exhibit higher meta-frontier technical efficiency than extensive farms, with the gap increasing over time, especially in Lithuania. Technology Gap Ratio results indicate convergence between production systems in Estonia and Latvia, while in Lithuania intensive farms became technologically closer to the national frontier after 2020. In contrast, Poland shows a different pattern: intensive farms operated closer to the meta-frontier but achieved lower efficiency, suggesting managerial constraints. Regression analysis confirmed that production intensity is a positive and statistically significant determinant of meta-frontier technical efficiency in all Baltic countries. These findings suggest that current economic conditions favour intensification and that extensification policies can only be effective if they adequately compensate for the efficiency disadvantage faced by extensive farms. Full article

Over the past decade the industry has developed technical, contractual and managerial tools for road construction without recognizing their capacity as solutions to land access restrictions. This systematic review analyzes the strategies for executing road projects under such restrictions. Following the PRISMA 2020 protocol, 51 indexed articles (2015–2026) retrieved from Scopus and Web of Science were examined and classified into land access restrictions, execution strategies (four families: technical–constructive, project management, social–institutional and contractual–legal) and impact on performance. Strategies are documented in 64.7% of the studies, but only 25.5% analyze them as an object, which explains why they have not been recognized as available solutions. The four families are not alternatives: they operate at different moments of the cycle, and their effectiveness depends on the type of restriction, the moment of activation and the institutional capacity, a determining variable that the corpus does not measure. Treating the restriction as a planning variable, rather than a contingency, distinguishes the projects with positive impact. Full article

Purpose: This study investigates the multi-dimensional nature of corporate risk-taking by examining how governance mechanisms exert differing pressures on accounting-based stability versus market-perceived volatility in the Saudi context, as the biggest emerging market in the Middle East. Moreover, the research uses accounting conservatism as a critical moderating variable and the sample is partitioned into high-conservative and low-conservative groups. Design/methodology/approach: The research analyzed data from 69 non-financial listed firms from 2017 to 2024 using four statistical models. Corporate risk-taking values have been captured from both accounting-based and market-based perspectives. Moreover, managerial, institutional, and concentration ownership have been used to capture ownership structure. However, board size, independence, and CEO power have been used to capture board structure. Findings: The research findings reported three main results: (1) Ownership structures have an asymmetric impact on accounting-based corporate risk-taking, as managerial and institutional ownership take a U-shaped curve, but ownership concentration has a positive impact. Moreover, from market-based corporate risk-taking, managerial and institutional ownership have a negative impact, but ownership concentration has a positive impact. (2) Board structures have an asymmetric impact on accounting-based corporate risk-taking, as managerial and institutional ownership have a negative impact, but ownership concentration has an inverted U-shaped impact. Moreover, from market-based corporate risk-taking, managerial and institutional ownership have no significant impact, but ownership concentration has a negative impact. (3) Accounting conservatism can change the nexus between ownership structure, board structure, and corporate risk behavior. Research limitations/implications: The research has many implications. For policymakers, the results discovered the role of ownership and board structures in shaping corporate risk-taking behavior in the Saudi context. Moreover, we have provided evidence-based guidance for governance reforms and firm-level decision-making. Moreover, the results can be incorporated by investors and creditors into their risk assessment frameworks, improving portfolio allocation and credit evaluation. Originality/value: The research captured corporate risk-taking behavior in the Saudi context from two perspectives at the same time. Likewise, it provides new empirical evidence that accounting conservatism can have a role in risky behavior. Full article

This study aims to explore and evaluate the factors influencing Gen Z’s intention to choose green tourism destinations in Hanoi, Vietnam. The paper proposes a comprehensive analytical framework by integrating the Stimulus-Organism-Response (S-O-R) model and the Theory of Planned Behavior (TPB). A mixed-method approach was employed, in which quantitative data were collected from 269 Gen Z respondents in Hanoi and analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique through SmartPLS. The findings reveal that external environmental stimuli, including green destination image (GDI) and social media influence (SMI), positively affect individuals’ internal psychological states, namely environmental awareness (EA), attitude toward green tourism (ATT), and subjective norms (SM). These psychological states, in turn, exert positive effects and strongly promote Gen Z’s intention to choose green tourism destinations in Hanoi. This study not only contributes to filling the theoretical gap in sustainable tourism consumption behavior in the digital era but also provides practical managerial implications for policymakers and tourism businesses in developing communication strategies and tourism products that align with the preferences and expectations of younger generations. Full article

Artificial intelligence (AI) is increasingly embedded in marketing work, yet employees who use AI tools may not always disclose AI’s role in producing their outputs. This study examines AI disclosure silence, defined as employees’ intentional withholding of information about the use, role, or contribution of AI tools in work-related outputs after AI has already been used. Unlike AI avoidance or resistance, this construct concerns post-adoption concealment; unlike general employee silence, it focuses on the hidden technological contribution behind visible work. Drawing on Conservation of Resources Theory and Psychological Safety Theory, the study investigates how threat-based conditions, safety and governance conditions, and AI-related capability are associated with AI disclosure silence. Data were collected through a two-wave survey of 635 marketing employees who actively used AI tools at work. The analysis combined measurement validation, Necessary Condition Analysis (NCA), fuzzy-set Qualitative Comparative Analysis (fsQCA), and explainable machine learning. The findings show that no single condition operated as a strong necessary bottleneck. Instead, AI disclosure silence appeared through multiple pathways involving AI anxiety, fear of negative evaluation, perceived creativity threat, perceived job insecurity, low trust in management, weak psychological safety, and unclear AI policy. SHapley Additive exPlanations (SHAP)-based interpretation further indicated that fear of negative evaluation, AI anxiety, perceived creativity threat, and trust in management had the strongest model-based predictive relevance. The study contributes to workplace AI and employee silence research by positioning AI disclosure silence as an emerging post-adoption disclosure construct. It also highlights the need for clear AI disclosure norms, non-punitive managerial responses, AI-assisted authorship guidelines, and psychologically safe AI-governance practices. The findings should be interpreted as configurational and predictive evidence rather than causal effects, and further scale validation across sectors and cultures is encouraged. Full article

Against the backdrop of global ecological governance and the advancing dual carbon goals, the sustainable development of green consumption hinges on consumers’ continuous repurchase. Although corporate environmental goal progress information serves as a critical external signal, its underlying mechanisms affecting green repurchase remain inadequately explored. Accordingly, this study integrates the S-O-R framework, signaling theory, and psychological reactance theory, and deconstructs such information into five dimensions: quantification, visualization, level, velocity, and stakeholder contribution. It constructs a chained mediation model, testing hypothesized relationships via structural equation modeling (SEM) with data from 594 valid questionnaires. Results show that all five dimensions exert a significant negative effect on psychological reactance, with the visualization dimension showing the strongest effect. In addition, the visualization dimension has no significant effect on green perceived value, whereas the other four dimensions have significantly positive effects, with the quantification dimension exerting the most prominent effect. Moreover, psychological reactance, green perceived value, and green brand trust constitute a full chained mediation, fully transmitting the effect of environmental information on repurchase intention. This study explains how environmental information drives sustainable green consumption and provides theoretical and managerial implications for enterprises to optimize environmental information disclosure and promote green repurchase. Full article

Collaborative business ecosystems (CBEs) face persistent disruptions, including pandemics, geopolitical instability, climate shocks, cyber threats, resource scarcity, and sustainability transition pressures. Building on prior CBE resilience–antifragility research and a mathematical framework that introduced plasticity as a viable below-baseline response trajectory, this integrative review aims to develop a sustainability-oriented framework explaining how CBEs can align response modes, strategies, capabilities, governance mechanisms, and enabling infrastructures under persistent disruption. The review synthesizes the 2019–2026 literature on sustainable business model innovation (SBMI), circular and regenerative perspectives, digital capability infrastructures, and ecosystem governance. Drawing on 99 sources, it proposes a six-layer Sustainable Resilience–Antifragility Framework for CBEs (SRA-CBE Framework), linking disruption sources, ecosystem vulnerabilities, viable response modes, strategy and capability portfolios, governance mechanisms, and sustainability-oriented outcomes. The synthesis shows that sustainable CBEs require aligned strategy bundles, adaptive and sustainability-oriented capabilities, governance arrangements that prevent collaboration and digitalization from becoming fragility sources, and enablers such as SBMI, circularity, scenario simulation, and governed digital infrastructures. The paper contributes by sharpening the link between disruption response and sustainability-oriented ecosystem design, repositioning viable response modes as design positions, and outlining managerial and research implications for sustainable collaborative ecosystems. Full article

Based on panel data of Chinese A-share listed firms from 2011 to 2023 (29,868 firm-year observations in total), this paper explores the environmental spillover relationship between regional digital financial inclusion (a proxy for the external digital financial ecosystem) and corporate financial investment efficiency. To identify causal effects, we adopt firm fixed effects and three strategies to mitigate endogeneity, namely, interactive fixed effects, lagged terms of regional digital financial inclusion, and instrumental variable estimation. The results suggest that regional digital financial inclusion, when interpreted as an environmental spillover from the external digital financial ecosystem, is associated with curbed inefficient financial investment and thus with improved investment efficiency. This effect operates through three channels: easing financing constraints, improving managerial sentiment, and accelerating digital transformation. Moreover, the positive effect is statistically significant and concentrates among non-state-owned enterprises, firms in eastern China, and sectors with limited traditional financial access (e.g., manufacturing and low-contact industries). Different from prior studies focusing on real investment efficiency, this paper enriches the literature on regional digital financial inclusion from an environmental spillover perspective. It also offers policy implications for fostering sustainable economic growth, strengthening the resilience of the real economy, and improving capital allocation efficiency. Full article

The economic resilience of agricultural enterprises is increasingly relevant for maintaining processing continuity and food quality in highly perishable agro-food chains. This study examines the associations between financial knowledge, financial management competency, business liquidity, and operational food-processing continuity in Türkiye’s tea sector. A quantitative cross-sectional design was employed, using structured survey data from 203 senior managers across 86 public and private tea-processing firms in Rize Province. The data were analysed using Ordinary Least Squares regression, mediation analysis, exploratory factor analysis, and robustness checks in accordance with OECD/INFE guidelines. Results indicate a significant deficit in theoretical financial knowledge (mean score: 4.47/10) alongside widespread overconfidence among 85% of managers. Applied financial management competency is positively associated with perceived business liquidity (β = 0.336, p < 0.001), suggesting that practical budgeting, cash-flow planning, and financial decision-making capabilities are relevant to maintaining operational funding capacity. In contrast, cash-flow difficulties are not significantly explained by firm-level financial knowledge, managerial competency, liquidity, or ownership structure (R² = 0.014, p = 0.722), indicating that these difficulties may reflect broader seasonal and sector-wide financing constraints. The findings challenge the assumption of a linear relationship between theoretical financial knowledge and managerial outcomes. They suggest a dual policy approach that combines applied financial management training with structural financing mechanisms to ensure the continuity of fresh leaf procurement and processing. While the study does not directly measure food safety, post-harvest losses, or SDG outcomes, the results have potential implications for reducing processing disruptions and supporting more resilient agro-food processing systems. Full article

The paper presents AI Sentinel, a closed-loop socio-technical approach to monitoring, analyzing, and responding to negative hotel reviews through a combination of big data analytics, natural language processing, and machine learning predictive modeling. A total of 85,178 reviews were analyzed for 80 European hotel properties, with 5665 (mean = 6.54) classified as negative and 79,513 (mean = 9.22) classified as positive. Latent Dirichlet Allocation (LDA) was used to discover topics; Gradient Boosting was used to classify high-risk reviews (AUC = 0.919); and a rule-based engine was employed for routing recovery/delivery of service. This analysis identified ten major complaint areas in guest reviews, with Cleanliness, staff behavior, and room quality accounting for 47.0% of negative comments about hotels and forming the Critical tier of intervention. There are three key theoretical contributions made by this study: (1) establishing operationalization of joint socio-technical optimization in AI-augmented service management; (2) introducing algorithmic service sensing as a time-compression mechanism for recovery workflow; and (3) demonstrating that the integration of unsupervised topic modeling with supervised risk classifications can provide a compounded analytical approach. Managerial consequences include risk prioritization at the portfolio level, the design of specific services to target certain traveler segments, nationality-based recovery threshold levels, and an appropriate governance structure that meets the requirements of the General Data Protection Regulation and the new European Union Artificial Intelligence Act. Full article