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This study aims to examine the ramifications of corporate environmental, social and governance (ESG) investing in zombie firms and considers how external funding support may moderate this relationship given the sustainable nature of ESG performance, which often incurs costs.

Panel regression analyses used data from China’s A-share listed companies from 2011 to 2019, resulting in a data set comprising 6,054 observations.

Despite firms’ additional financial burdens, corporate ESG investing emerges as a catalyst in resurrecting zombie firms by attracting investor attention. Further analysis underscores the significance of funding support from entities such as the government and banks in alleviating ESG cost pressures and enhancing the efficacy of corporate ESG investing. Notably, the positive impact of corporate ESG investing is most pronounced in non-heavily polluting and non-state-owned firms. The results of classification tests reveal that social (S) and governance (G) investing yield greater efficacy in revitalizing zombie firms compared to environmental (E) investing.

This research enriches the discourse on corporate ESG investing and offers insights for governing zombie firms and shaping government policies.

By extending the domain of ESG research to encompass zombie firms, this paper sheds light on the multifaceted role of corporate ESG investing. Furthermore, this study comprehensively evaluates the influence of external funding support on the positive outcomes of ESG investing, thereby contributing to the resolution of the longstanding debate on the relationship between ESG performance and corporate financial performance, particularly with regard to ESG costs and benefits.

Excessive borrowing significantly contributes to pushing businesses towards default and their transition into zombie enterprises. Despite government efforts to implement deleveraging policies and guide bank credit flows, it’s essential to delve into the internal dynamics that steer the borrowing behavior of these zombie enterprises at a micro level. To gain a comprehensive understanding of the issue, this study focuses on examining the incentives that drive corporate executives of zombie enterprises to consistently engage in large-scale borrowing from banks.

In this study, panel data analysis is utilized, incorporating firm-, industry- and year-fixed effects. Drawing from data pertaining to listed companies in China spanning from 2007 to 2020, we employ a one-by-one identification method to pinpoint zombie enterprises. Ultimately, a total of 2,533 samples of zombie enterprises were obtained.

The results indicate that as bank loans to zombie enterprises increase, executive monetary compensation decreases, while on-the-job consumption by executives increases, and they are less likely to be forced into rotation. Mechanism testing reveals that corporate performance partially mediates the relationship between bank loans and executive monetary compensation, but this mediation is ineffective for on-the-job consumption and job rotation. Further investigation suggests that the property rights nature of central enterprises and modified audit opinions can exacerbate the adverse impact of bank loans on the monetary compensation of zombie corporate executives, without significantly affecting on-the-job consumption or job rotation. Conversely, executive power does not enhance the positive effects of bank loans on monetary compensation or on-the-job consumption, but it diminishes the negative impact of bank loans on the forced rotation of zombie executives.

These results indicate that while bank loans may have a negative impact on corporate value, they function as safeguards for the positions and interests of executives. As a result, bank loans serve as incentives for executives of zombie enterprises.

This study holds theoretical significance as it explores the motivations behind non-performing loans in high-borrowing enterprises, sheds light on corporate governance challenges encountered by zombie enterprises and provides policy insights aimed at addressing the underlying causes of persistent non-performing loans in high-borrowing enterprises, including zombie enterprises.

The distinctiveness of Japanese management practices offers invaluable insights for the strategic development and operational excellence of small and medium-sized enterprises (SMEs) worldwide. Recognizing this, the purpose of this study is to explore an extensive review of the literature on Japanese SMEs. The aim is to reveal previously explored research domains and to systematically categorize the unique factors contributing to the success and challenges of SMEs. This investigation not only illuminates the peculiarities of Japanese SMEs management but also sets the stage for applying these insights globally to SMEs across diverse industries.

Using a systematic review approach, 63 studies on Japanese SMEs from 1996 to 2021 were identified and analyzed.

This analysis identified six critical themes in Japanese SME management: nuanced firm management practices; forefront innovation and technology; internationalization; supportive government policies; commitment to corporate social responsibility and sustainable development; and vibrant entrepreneurship. The authors also spotlight challenges like navigating global competition and adapting to rapid technological changes. These insights, alongside noted methodological gaps in existing literature, suggest fertile grounds for future research and hold significant implications for SMEs globally.

The investigation of Japanese SMEs in this study highlights valuable insights for SMEs, policymakers and scholars, as it represents a rich and distinctive research phenomenon with various organizational, cultural, economic and political implications.

This essay focuses on an argument that challenges the notion of market reform as a desirable idea. It examines how market requirements, accounting practices, political intervention and organizational conditions interact and create conflicts in the implementation of market reform. In our case study, we aim to elucidate the detrimental effects of expanding pricing mechanisms into areas typically untouched.

The essay adopts a critical perspective toward the marketization in the public sector organizations based on the authors' previous studies and observations of the reforms in Swedish schools over the last 30 years. The case is conceptualized within Callon’s framework of the sociology of worth.

The paper provides an example of market dynamics introduced without the presence of pricing and qualification mechanisms, resulting in a trial-and-error situation. In this context, we document and problematize a trend toward marketization that has had negative consequences for Swedish schools. In doing so, the paper shows how market requirements, accounting practices, political interventions and organizational conditions interact and create conflicts during the implementation of market reforms. The case shows the emergence of a new economic entity and its underlying rationale, the quantification/pricing mechanism, with a special emphasis on the role of accounting and the repercussions on subjectivities as values shift.

This paper follows up on the New Public Financial Management (NPFM) global warning debate on the emergence of pricing/charging mechanisms in public services. It provides a critical overview of the diffusion and relevance of accounting evaluation processes to sustain continuous reforms, despite claimed criticisms, limitations and (un)intended consequences. The paper also provides some reflections on new avenues for further research and some possible ways out for accounting studies.

Active participation is critical to the survival and development of the multiplayer online battle arena (MOBA) game community. However, this issue has not received much attention in the information systems literature. To address this issue, we develop a tripartite model that accounts for the roles of behavioral dedication, constraint, obligation mechanisms on active participation in the MOBA community.

The research model is empirically validated by online survey data among 971 users of a popular MOBA community.

The results show that perceived enjoyment, perceived escapism, and affective commitment are key behavioral dedication factors, which further promote active participation in the MOBA community. In addition, past investment, self-efficacy for change, and calculative commitment are important behavioral constraint factors, which ultimately influence active participation in the MOBA community. Finally, subjective norm, group norm, social identity, and normative commitment are influential behavioral obligation factors, which in turn facilitate active participation in the MOBA community.

This study contributes to the theoretical understanding of active participation in the MOBA community and offers practical guidance for promoting active participation in the community.

The lean startup approach (LSA) is extensively utilized by early-stage entrepreneurs, with “pivot” serving as a key pillar. However, there is a research gap concerning the boundary conditions impacting LSA and pivot decisions, especially when addressing societal challenges, as in the context of transformational entrepreneurship. In this regard, the healthcare sector, further compounded by a lack of research on startups and scale-ups, presents an embraced opportunity to provide multiple contributions for both theory and practice.

The present investigation employs a grounded approach to explore the experiences of the co-founders of a fast-growing Italian e-health startup. A narrative strategy was employed to organize conditions and evolving strategic action/interactions into three different pivoting phases of the startup – before the pivot, its enactment and aftermath – with primary and secondary data collected over a period of one year.

Pivoting in digital healthcare unfolded as a liminal experience marked by factors such as high regulation, multiple stakeholders, technological and symbolic ambivalence, resource-intensive demands and institutional actors acting as pathway pioneers, leading to an information overload and unforeseeable uncertainty to manage. These factors challenge entrepreneurs' ability to attain optimal distinctiveness, presenting the paradoxical need for vertical flexibility for scaling up.

By uniquely illuminating the sector’s constraints on entrepreneurial phenomena, this study provides a valuable guide for entrepreneurs and institutional actors in addressing societal challenges.

This study introduces a process model of transformational information crafting when pivoting, highlighting the role of entrepreneurs' transformational stance and platform-mediated solutions as engines behind strategies involving information breaking and transition, preceding knowledge-driven integration strategies.

E-commerce companies use dark patterns to manipulate customer decisions to survive in the crowded online market and make profit. Although some online customers are aware of the dark patterns, they cannot overcome such manipulations. Therefore, the purpose of this study is to identify and model the barriers to overcoming dark patterns using total interpretive structural modeling (TISM).

Barriers to overcoming dark patterns were identified from the extant literature and were validated by a panel of 18 domain experts. In the modeling phase, TISM technique was used to identify the relationships between the barriers and assign priority to the barriers. Finally, the barriers were plotted and classified into three categories.

User unawareness, trust in brands and normalization of aggressive marketing were found to be the highest priority barriers. Whereas, designer bias, user fatigue, short-term user benefits and design complexity were identified as the most challenging barriers because they have least dependence over the other barriers.

Because TISM results are based on the opinion of domain experts, other statistical techniques could be applied for validation.

This study would educate online customers, while assisting online user communities and regulatory bodies to devise strategies to overcome dark patterns. Additionally, business managers could use the study’s findings to encourage designers to embrace ethical design methods as a competitive advantage.

This study contributes to the research as it is first of its kind to examine the link between dark pattern barriers.

This article problematises the international student label by critically examining the mechanisms that actively portray international students as necessarily different, deficient and uncritical. It broadly aims to tackle the following issues: (a) to challenge the underpinnings of the international label; (b) to uncover the role of neo-essentialist representations of cohorts of students labelled international in sustaining financial exploitation and deficit narratives; and (c) to criticise the current hyper-internationalisation strategy widely adopted by UK HEIs.

The paper mainly relies on findings from research that adopted narrative inquiry to explore the experiences of students labelled international. Data were collected via a series of interviews with 15 postgraduate students at a university in the north of England. The paper also makes use of brief statistical analyses to provide a general overview about the status of UK higher education (international student admission, net economic impact and income).

The paper reveals the underpinnings of the international label and how it is mobilised to other non-UK-domiciled students. The paper equally establishes a strong link between hyper-internationalisation and the (un)sustainability of the UK’s higher education sector.

The research is expected to raise important questions around the experiences and realities endured by students labelled international. In particular, the paper challenges the international label and the mechanisms that sustain the label at institutional levels.

The paper calls for abandoning the international label as a marker of a presumed difference. Equally, the paper highlights the current unsustainability of the UK’s higher education sector and suggests a gradual cap on international tuition fees to alleviate some of the educational inequalities endured by students international, and to ensure the sustainability of the higher education sector.

This is the first research that openly challenges the international label and substitutes it by “students labelled international”. Equally, this is the first paper that recommends to cap international tuition fees on account of findings from students' narratives and statistics that reveal the unsustainability of the UK's higher education sector. Finally, the paper’s conceptual contribution includes a reference to the idea of hyper-internationalisation.

In the tourism industry, immersive technologies become increasingly vital, amplifying traveler experiences and industry growth. By studying “e-booking” applications prevalent in hotels, this study aims to analyze the impact of integrating an anthropomorphic virtual agent (AVA) on user perceptions of humanness and service usage intent.

Two experiments were conducted to examine the effects of using an AVA and explain the psychological mechanism of how AVA’s attributes increase intention to use “e-booking” application.

The results highlight the positive influence of AVA on the intention to use. They illustrate the psychological mechanism of how AVA’s attributes (agency and emotionality) influence perceived humanness and intention to use. More specifically, the results indicate that perceived humanness mediated the effect of an AVA on intention to use.

Further research should delve into additional capabilities related to humanness.

This study provides useful insights for hotels’ managers about incorporating AVAs in digital services to enhance the perceived humanness of AVAs. The findings suggest that such efforts could yield benefits, especially when they involve conveying that AVAs possess agency and emotionality.

To the best of the author’s knowledge, this study is the first to investigate how AVA impacts hotel human–computer interaction. It examines agency and emotionality features on humanness perception and behavioral intent. It also guides successful digitalized hotel service development and design, expanding existing research on human–virtual agent digital services, which mainly focuses on superficial traits like face and gender.

Explore how the degree of humanization affects user misconduct, and provide effective misconduct prevention measures for the wide application of artificial intelligence in the future.

Based on the “Uncanny Valley theory”, three experiments were conducted to explore the relationship between the degree of humanization of service machines and user misbehavior, and to analyze the mediating role of cognitive resistance and the moderating role of social class.

There is a U-shaped relationship between the degree of humanization of service machines and user misbehavior; Social class not only regulates the main effect of anthropomorphism on misbehavior, but also regulates the intermediary effect of anthropomorphism on cognitive resistance, thus affecting misbehavior.

The design of the service robot can be from the user’s point of view, combined with the user’s social class, match different user types, and provide the same preferences as the user’s humanoid service robot.

This study is an important reference value for enterprises and governments to provide intelligent services in public places. It can prevent the robot from being vandalized and also provide users with a comfortable human-computer interaction experience, expanding the positive effects of providing smart services by government and enterprises.

This study avoids and reduces users' misbehavior towards intelligent service robots, improves users' satisfaction in using service robots, and avoids service robots being damaged, resulting in waste of government, enterprise and social resources.

From the perspective of product factors to identify the inducing factors of improper behavior, from the perspective of social class of users to analyze the moderating effect of humanization degree and user improper behavior.