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This study investigates information flow of market constituents and global indices at multi-frequencies.

The study’s findings were obtained using the Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise (I-CEEMDAN)-based cluster analysis executed for Rényi effective transfer entropy (RETE).

The authors find that significant negative information flows among sustainability equities (SEs) and conventional equities (CEs) at most multi-frequencies, which exacerbates diversification benefits. The information flows are mostly bi-directional, highlighting the importance of stock markets' constituents and their global indices in portfolio construction.

The authors advocate that both SE and CE markets are mostly heterogeneous, revealing some levels of markets inefficiencies.

The empirical literature on CEs is replete with several dynamics, revealing their returns behaviour for diversification purposes, leaving very little to know about the returns behaviour of SE. Wherein, an avalanche of several initiatives on Corporate Social Responsibility (CSR) enjoin firms to operate socially responsible, but investors need to have a clear reason to remain sustainable into the foreseeable future period. Accordingly, the humble desire of investors is the formation of a well-diversified portfolio and would highly demand stocks to the extent that they form a reliable portfolio, especially, amid SEs and/or CEs.

本研究擬審查多頻率的及為市場成份的信息流和全球指數。

研究人員使用基於改良完全集合經驗模態分解自適應噪聲(Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise)的聚類分析法,取得Rényi有效轉移熵,藉此得到研究結果。

我們發現、於大部份多頻率,在持續性股票和傳統股票間有顯著的負信息流動,這會增加多樣化的益處。這些信息流大部份是雙向的,這強調了股票市場成份及其全球指數在構建投資組合上的重要性。

我們認為持續性股票市場和傳統股票市場大多為異質市場,這顯示了市場的低效率,而且這低效率的程度頗大。

關於傳統股票的實證性文獻裡是充滿了變革動力的,這顯示了它們以多樣化為目的的回報行為。這使我們對關於持續性股票的回報行為、認識變得實在太少了。於此,大量的企業社會責任的新措施不斷提醒各公司、要本著企業社會責任的理念去營運;但投資者需清晰明白他們為何需在可見的將來保持可持續性。因此,他們卑微的願望是一個較好的多樣化投資組合得以形成,故此他們高度要求股票要有組成可靠投資組合的性質和能力,特別是在持續性股票和/或傳統股票當中。

The authors examine the effect of supply chain resilience (SCR) on supply chain performance (SCP) while considering the moderating effect of supply chain network complexity (SCNC) on the nexus between SCR and SCP of manufacturing firms.

The quantitative research approach and explanatory research design were utilised for this study. A sample of 345 manufacturing firms in the Accra metropolis was drawn. The partial least square structural equation modelling was employed.

Findings from the study revealed that SCR has a significant positive effect on SCP. However, SCNC had a significant negative moderating effect on the relationship between SCR and SCP.

The authors advocate that manufacturing firms are prone to stronger impact from complex networks that mitigate the already existing positive relationship between SCR and SCP and is dependent on the context in which the study is executed, and the extent to which resilience strategies are robust. Thus, the SCNC has an adverse impact on how well partners interact and how well the supply chain functions.

This is the first study that quantitatively investigates the SCR impact on SCP in the presence of SCNC of manufacturing firms in the context of a developing economy. The study redefines SCNC from earlier studies.

Despite the economic growth in Ghana, the manufacturing industry faces numerous challenges in their supply chains. The study aims to investigate the mediated-moderated role of supply chain technological innovation (SCTI) in the relationship between supply chain resilience (SCR) and supply chain performance (SCP) of manufacturing firms. By exploring this relationship, the study seeks to provide insights that can help manufacturing firms overcome the challenges they face and improve their overall supply chain performance.

The quantitative research approach and explanatory research design were utilised. A sample of 345 manufacturing firms was drawn from a population of 2495 manufacturing firms in the Accra metropolis. Analysis of this study was performed using the Partial Least Squares Structural Equation Modelling (PLS-SEM).

It was revealed that SCTI positively mediates the nexus between SCR and SCP. However, we document that SCTI negatively moderates the nexus. It is instructive to advocate that a mere presence of a more enhanced SCTI is not enough to improve upon SCP of manufacturing firms, but should be a channel through which SCR can improve SCP.

This study highlights the need for managers of firms to prioritise investment in technological innovation as a means of enhancing SCR and ultimately improving supply chain performance. By understanding the SCTI mediated-moderated relationship between SCR and SCP, supply chain managers, logistics managers, operation managers, as well as procurement managers can develop more effective strategies to optimise their operations. This study provides valuable insights for managers and policymakers in developing and implementing supply chain resilience strategies that take into account the important role of SCTI.

The originality of the study lies in exploring the mediated-moderated effect of technological innovation on the nexus between resilience and performance of supply chains in developing economies, where firms often face unique challenges such as infrastructure limitations, political instability and economic uncertainty. By investigating the interplay of SCTI between SCR and SCP, researchers can develop new insights and strategies to help navigate these challenges and achieve success.