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New ventures often encounter legitimation challenges due to their liability of newness and foreignness. This particularly applies to the legitimacy beyond the local entrepreneurial ecosystem (EE). The present study examines how new ventures’ local legitimacy influences legitimacy diffusion beyond the local EEs. It considers both the direct relationship between new venture local legitimacy and its diffusion beyond the EE and the moderating effects of legitimacy brokerage and network activities on this relationship.

A hierarchical multiple linear regression is employed to test a series of hypotheses using the data of 228 Finnish firms which was collected with an online survey.

Firms that garner active local legitimacy have a greater chance to diffuse that legitimacy beyond an existing ecosystem. Results also reveal that network activities and legitimacy brokerage enhance (positively moderate) the association between (passive and active) local legitimacy and its diffusion.

The present study contributes to and extends the literature at the intersection of new venture legitimacy and legitimacy diffusion beyond the existing EE – an aspect which has not been sufficiently studied.

This paper examines the hypothesis of local herding (i.e. own-area effects) by individual investors on a particular stock-month. Using a unique dataset on online and offline individual investors’ trading records in Korea, we analyze buying and selling transactions involving 10,000 accounts from February 1999 to December 2005. We find that both online and offline investors in the same area tend to exhibit stronger local herding compared to investors’ trades who are geographically remote. Interestingly, online investors not only present stronger own-area effects but also exhibit more pronounced other-area effects compared with offline investors. Furthermore, our analysis indicates that gender and religious affiliation are important in investment behavior, with male and non-religious investors displaying a greater stock market participation in contrast to investors who are female and Protestant.

The study endeavours to determine (1) whether the disposition effect exists among South African investor teams, (2) whether it is causally intensified by a set of psychosocial factors and (3) whether the disposition effect causally reduces investor welfare.

Following a natural field experimentation design involving a sample of investor teams participating in the 2019 run of the JSE University Investment Challenge, the authors use regression adjustments as well as bootstrap tests to investigate the casual implications of a set of psychosocial factors on the intensity of the disposition effect, as well on the attenuation of market-adjusted ex post returns (i.e. investor welfare).

South African investor teams are susceptible to the disposition effect, and their susceptibility to the bias is associated with attenuated investor welfare. Furthermore, low female representation in an investor team causally intensifies the disposition effect, subsequently leading to a causal reduction in investor welfare.

Using evidence from real-world observation, the authors contribute to the literature on team gender diversity and investment decision-making, and – using Hofstede's (2001) cultural dimensions – the authors offer a comprehensive account for how differences in culture may lead to differences in gender-related disposition effects across different nationalities. The authors also introduce to the literature experimental evidence from the field that clearly demonstrates that – among South African investor teams – a causal relationship exists (1) between female representation and the disposition effect, and (2) between the disposition effect and investor welfare.

The present study reviews the literature on the history and evolution of investment strategies in the stock market for the period from 1900 to 2022. Conflicts and relationships arising from such diverse seminal studies have been identified to address the research gaps.

The studies for this review were identified and screened from electronic databases to compile a comprehensive list of 200 relevant studies for inclusion in this review and summarized for the cognizance of researchers.

The study finds a coherence to complex theoretical documentation of more than a century of evolution on investment strategy in stock markets, capturing the characteristics of time with a chronological study of events.

There were complications in locating unpublished studies leading to biases like publication bias, the reluctance of editors to publish studies, which do not reveal statistically significant differences, and English language bias.

Practitioners can refine investment strategies by incorporating behavioral finance insights and recognizing the influence of psychological biases. Strategies span value, growth, contrarian, or momentum indicators. Mitigating overconfidence bias supports effective risk management. Social media sentiment analysis facilitates real-time decision-making. Adapting to evolving market liquidity curbs volatility risks. Identifying biases guides investor education initiatives.

This paper is an original attempt to pictorially depict the seminal works in stock market investment strategies of more than a hundred years.

Operational risks can cause considerable, atypical disturbances and impact food supply chain (SC) resilience. Indicatively, the COVID-19 pandemic caused significant disruptions in the UK food services as nationwide stockouts led to unprecedented discrepancies between retail and home-delivery supply capacity and demand. To this effect, this study aims to examine the emergence of digital platforms as an innovative instrument for food SC resilience in severe market disruptions.

An interpretive multiple case-study approach was used to unravel how different generations of e-commerce food service providers, i.e. established and emergent, responded to the need for more resilient operations during the COVID-19 pandemic.

SC disruption management for high-impact low-frequency events requires analysing four research elements: platformisation, structural variety, process flexibility and system resource efficiency. Established e-commerce food operators use partner onboarding and local waste valorisation to enhance resilience. Instead, emergent e-commerce food providers leverage localised rapid upscaling and product personalisation.

Digital food platforms offer a highly customisable, multisided digital marketplace wherein platform members may aggregate product offerings and customers, thus sharing value throughout the network. Platform-induced disintermediation allows bidirectional flows of data and information among SC partners, ensuring compliance and safety in the food retail sector.

The study contributes to the SC configuration and resilience literature by investigating the interrelationship among platformisation, structural variety, process flexibility and system resource efficiency for safe and resilient food provision within exogenously disrupted environments.

In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial authorities such as the Financial Stability Board (FSB) and Bank for International Settlements (BIS) have advocated for the introduction of a central counterparty (CCP). This study examines the structural characteristics of Korean repo markets and proposes the introduction of CCPs as a way to mitigate systemic risk. To this end, the author analyzes the structural differences between US and European repo markets and estimates the potential consequences of introducing CCP clearing in local repo markets. In general, CCPs offer two benefits: they can reduce required capital through netting in multilateral transactions, and they can mitigate the effects of risk transfer by isolating counterparty risk during periods of turbulence. In Korea, the latter effect is expected to play a pivotal role in mitigating potential risks.

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

This study aims to explore the relationship between chief executive officer (CEO) power and stock price crash risk in India. Furthermore, it seeks to analyse how insider trades may moderate the impact of CEO power on stock price crash risk.

A study of 236 companies from the S&P BSE 500 Index (2014–2023) have been analysed through pooled ordinary least square (OLS) regression in the baseline analysis. To enhance the results' reliability, robustness checks include alternative methodologies, such as panel data regression with fixed-effects, binary logistic regression and Bayesian regression. Additional control variables and alternative crash risk measure have also been utilised. To address potential endogeneity, instrumental variable techniques such as two-stage least squares (IV-2SLS) and difference-in-difference (DiD) methodologies are utilised.

Stakeholder theory is supported by results revealing that CEO power proxies like CEO duality, status and directorship reduce one-year ahead stock price crash risk and vice versa. Insider trades are found to moderate the link between select dimensions of CEO power and stock price crash risk. These findings persist after addressing potential endogeneity concerns, and the results remain consistent across alternative methodologies and variable inclusions.

This study significantly advances research on stock price crash risk, especially in emerging economies like India. The implications of these findings are crucial for investors aiming to mitigate crash risk, for corporations seeking enhanced governance measures and for policymakers considering the economic and welfare consequences associated with this phenomenon.

This paper aims to (1) identify the different performance drivers (lead indicators) and outcome measures (lag indicators) investigated in the literature concerning the four balanced scorecard (BSC) perspectives in operations management (OM) contexts and (2) understand how performance drivers and outcome measures (and substantiated perspectives) are related.

We undertake a systematic literature review of the BSC literature in OM journals. From the final sample of 40 articles, performance drivers and outcome measures have been identified, and the relationships amongst them have been synthesised according to the system dynamics approach.

Findings show (1) the most relevant performance drivers and outcome measures within each BSC perspective, (2) their relationships, (3) how the perspectives are linked through the performance drivers and outcome measures and (4) how the different measures relate systemically. Accordingly, four causal loops amongst identified measures have been built, which – jointly considered – allowed for the creation of a dynamic strategy map for OM.

This study is the first one that provides a comprehensive and holistic view of how the different performance drivers and outcome measures within and between the four BSC perspectives in OM relate systemically, increasing the knowledge and understanding of scholars and practitioners.