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This study investigates organizations' non-adoption intention towards the enterprise metaverse. The innovation resistance theory (IRT) is used as an underpinning theory to examine the impact of various risks on non-adoption intention towards the enterprise metaverse.

A total of 294 responses were collected to examine the proposed hypotheses. A structural equation modelling technique was used to investigate the hypotheses using SPSS AMOS and PROCESS MACRO.

The results of this study reveal that performance, security and psychological risks are significantly associated with non-adoption intention towards enterprise metaverse. Further, distrust significantly meditates the association between performance risk, social risk, technological dependence risk, security risk and psychological risk and non-adoption intention towards enterprise metaverse. Moreover, the results of moderated-mediation hypotheses indicate that the mediating effect of distrust on the association among performance risk, social risk, psychological risk and non-adoption intention towards enterprise metaverse is higher for individuals having high technostress compared to individuals having low technostress.

The study's findings will enrich the metaverse literature. Further, it provides a deeper understanding of enterprise metaverse adoption from a B2B perspective using the underpinnings of IRT. The study helps organizations understand the risks associated with the adoption of the enterprise metaverse.

Online customer communities have become a strategic tool for business-to-business (B2B) firms to drive collaboration among customers around the company’s products and services. This paper aims to argue that the three social capital dimensions, that is, structural, relational and cognitive, themselves driven by brand community trust, can affect brand loyalty for the organization.

The authors use a survey to collect data and structural equation modeling to test the conceptual framework by collecting data from 214 participants across three online B2B communities operated by three technology firms in India.

Brand community trust is found to have a strong association with social network ties, identification and norm of reciprocity and shared vision. These three have concomitant effects on the quality of customer-to-customer (C2C) interactions. Such communication generates functional, emotional and social benefits, which, in turn, curate brand loyalty.

The authors’ findings guide community managers in leveraging such conversations in shaping customer loyalty for the corporate brand.

This work provides an integrated framework to explain the important role of C2C interactions in B2B online brand communities.

This study aims to explore the factors influencing the bottom of the pyramid (BOP) consumers’ adoption and usage intention towards mobile payment (m-payment) to achieve financial inclusion and sustainable development goals.

A qualitative research design is used to explore the enablers and inhibitors that influence BOP consumers’ m-payment adoption and usage intention. To collect the qualitative responses, semi-structured in-depth interviews with BOP respondents were conducted. The thematic analysis using the text mining technique will be used to analyse qualitative data for exploring the predominant factors affecting m-payment adoption intention and usage.

The results suggested awareness, social influences and self-efficacy as crucial enablers and privacy and security risks and vulnerability concerns as crucial inhibitors towards m-payment adoption and usage.

As a novel contribution to the BOP, financial inclusion, sustainable development goals and m-payment literature, this study unfolds several unknown perceived benefits and perceived sacrifices that influence the BOP consumers’ m-payment adoption intention and usage. The study’s findings help the government and banks formulate and implement strategies to achieve financial inclusion among BOP consumers.

Business Model Innovation is increasingly created by an ecosystem of related companies. This paper aims to investigate the transition of a manufacturing ecosystem toward electric vehicles from a business model perspective.

The authors investigate an automotive manufacturing ecosystem that is in transition toward electric and electrified vehicles, conducting semi-structured interviews with 46 informants from 27 ecosystem members.

The results reveal that the actions of several ecosystem members are driven by regulations relating to emissions. Novel requirements regarding components and complementary offers necessitate the entry of actors from other industries and the formation of new ecosystem members. While the newly emerged ecosystem has roots in an established ecosystem, it relies on new value offers. Further, the findings highlight the importance of ecosystem governance, while the necessary degree of change in the members' business models depends on their roles and positions in the ecosystem. Therefore, upstream suppliers of components must perform business model adaptation, whereas downstream providers must perform more complex business model innovation.

The paper is among the first to investigate an entire manufacturing ecosystem and analyze its transition toward electric vehicles and the implications for business model innovation.

What started as a FMCG distributor in 1967 in Kenya as Export Finance Company, is now a dynamic global conglomerate across 48 countries and 5 continents — Export Trading Group. ETG was taken over by the then CFO Mahesh Patel after exit of the founding stakeholders. It was then when the company shifted its focus to being a key regional player. In the next 35 years, the company grew systematically. Business focus evolved when Patel saw an opportunity in logistics in remote sub-Saharan Africa. This was followed by business expansion with supply chain diversification and significant infrastructure investments. All the different businesses amalgamated under a single group for better operations and ease of scaling up. They were later divided into six separate verticals for better management. Vamara (FMCG vertical) was launched in 2018 as the company moved towards digitalisation — externally and internally. ETG plans to focus on new business opportunities and continue to diversify across geographies and portfolios.

While previous studies have investigated the factors influencing the internet adoption, the findings may not be transferable to explain blockchain technology adoption, despite its similarities to the internet. This study aims to address this gap by exploring the mediating effect of innovation culture and the moderating effect of innovation policies on business model innovation (BMI) outcomes in emerging economy firms. It investigates how these factors synergistically facilitate BMI, offering practical guidance for public authorities and managers to develop relevant policies and govern businesses effectively.

This study collected data from 287 valid responses among 948 listed companies on the Taiwan Stock Exchange using a structured questionnaire. This study used structural equation modeling and Process Model 5 to analyze direct and indirect effects, focusing on corporate key capabilities for BMI while exploring the combined impact of innovation culture and policies.

The study revealed that innovation culture and innovation policies synergistically facilitate BMI, accelerating firms’ progress toward BMI in the emerging economy context. These outcomes offer valuable guidance for public authorities and company managers in formulating relevant policies and managing businesses effectively.

This study contributes to the literature by uniquely exploring the combined influence of innovation culture and policies on BMI in emerging economy firms, shedding light on their compounding effect and offering practical implications for policy-making and business management.

The literature stresses the importance of collaboration patterns and the role of public funding in regional competitiveness. This study aims to contribute to a better understanding of this subject by focusing on two key dynamics of technological cooperation. First, the authors focus on the ability of public funding to support regional technological demand through the promotion of science and technology-based innovation (STI) and innovation based on learning-by-doing, learning-by-using, learning-by-interacting (DUI) cooperation. Second, the authors investigate whether such cooperation patterns influence the companies’ ability to support the development of novel products through the effective transfer of knowledge.

The data used in this longitudinal study are taken from the Basque statistics agency’s (EUSTAT) technological innovation survey, which compiles activities, personnel, funding sources, support institutions and other innovation-related aspects of businesses in the Basque region. The survey was carried out following the methodology of the community innovation survey (CIS). CIS data are used to generate official innovation statistics for the EU and its member countries and have been used extensively for analysis in economics. The sample included an unbalanced panel of 17,431 companies that reported research and development expenditure for the period 2013‐2017.

The results of the analysis confirm that the relationship between STI cooperation and regional funding is positive (Piñeiro-Antelo and Lois-González, 2019), but regional DUI cooperation will have a greater impact than STI cooperation on a company’s ability to generate novel products. The authors can, therefore, say that public funding is successful at supporting cooperation between science and technology agents and firms but fails to promote the transfer of knowledge and subsequent development of novel products in companies in the region.

Following a quadruple helix approach, it is important to underline the need for public policies to strengthen the connections between all the key agents in the ecosystem (where the research community, industry, public sector and citizens are all active actors), promoting technology transfer and dissemination, as well as trust among the parties, absorptive capacity and business access to resources and financing. Thus, the design of public policies should be oriented to support a firm’s innovation, balancing the exploration and exploitation of STI and DUI regional cooperation.

The contribution of this research is threefold. First, it serves to emphasize the importance of the impact of regional innovation systems on business innovation modes and their performance. Second, it takes the study of innovation systems and their impact on companies a step further by examining the impact of public funding on the companies’ ability to explore and exploit regional innovation modes. Thirdly, the authors offer a dynamic view of the region’s ability to support its own demand for technology and study the impact of regional business modes on the firms’ ability to support novel products.

The case study is designed to help students understand how the “growth at all costs” attitude can lead to compromised corporate governance in a start-up leading to disastrous implications for all the stakeholders. This case study aims to make students understand the components of the fraud triangle, the impact of financial fraud on various stakeholders, the role of venture capitalist (VC) investors and the importance of good corporate governance in start-ups. The case study presents an excellent opportunity for students to discuss the consequences of ignoring good governance in the pursuit of growth in a start-up. After analyzing the case study, the students shall be able to explain the concept of the fraud triangle and to be able to identify the motivation, opportunity and rationalization of financial irregularities in a start-up; analyze the impact of financial irregularities on various stakeholders; comprehend the business model of VCs and evaluate its influence on VC-funded start-ups; and appraise the importance of good corporate governance in start-ups.

The case study revolves around the confession of financial irregularities made by one of the cofounders of GoMechanic, a start-up headquartered in Gurugram, India. On January 18, 2023, Amit Bhasin confessed to financial irregularities in the company’s financial statements, leading to laying off 70% of the workforce of the company. GoMechanic had earlier raised close to US$62m [1] from maverick global investors including Sequoia Capital, Tiger Global, Orios Venture Partners and Chiratae Ventures, and was negotiating to raise Series D financing from the Japanese multinational SoftBank with aspirations to be a unicorn (start-up with a valuation of over $1bn). The confession led to a debate about the consequences of the “growth at all cost” culture being followed by start-ups as well as VCs. GoMechanic was not an isolated instance of a lack of governance in the start-ups. The confession had consequences not only for the GoMechanic but for the entire start-up ecosystem of India, which was the third largest in the world. Bhasin stated that the founders take full responsibility for the situation, and they were working on a plan which was most viable under the circumstances. However, it was not going to be easy to regain the confidence of the investors.

The case study is best suited for senior undergraduate- and graduate-level business school students and in executive education programs in courses such as corporate governance and ethics, private equity and entrepreneurial finance.

Teaching notes are available for educators only.

CSS 1: Accounting and finance

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.

Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.

This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.

The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.

The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.

The circular economy (CE) promotes the recovery of value from waste while also working towards achieving long-term environmentally sustainable goals. The goal of this research is to explore the challenges, opportunities, future scope and green practices that small and medium-sized firms (SMEs) face as they move from the linear economy to the CE.

Based on a structured questionnaire, a survey was conducted with representatives from 163 SMEs in India. The data were analysed using co-variance based structural equation modelling technique.

This research identifies various challenges, including consumer acceptability, worries about awareness, recyclability issues, financial constraints and the absence of a defined management plan for SMEs in adopting the CE. Further, strong management will, innovation, technical up-gradation, training of employees, employee motivation and appropriate guidelines are recognized as essential possibilities for CE implementation.

While there has been some work on CE, no studies have directly compared these efforts with the goal of shifting from a linear economy to a CE. Given the transient nature of many archives, it is critical that the efforts put into them and the opinions of those who work in them be recorded so that communities can benefit from a shared linear economy in making decisions about their own history.