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Private investment in advanced economies contracted sharply during the downturn that followed the global financial crisis. A substantial debt overhang has been one proposed explanation for this development. This paper evaluates the role of debt overhang for the slow recovery in investment in Denmark, a country in which levels of private debt rapidly increased before the crisis.

Based on firm-level panel data, this paper evaluates the links between debt and investment dynamics for individual firms during the downturn that followed the global financial crisis.

High leverage contributed to a slow recovery in investment during the downturn that followed the financial crisis, in particular for small and medium-sized enterprises. The effect cannot solely be attributed to mean reversion in investment.

Results point to the existence of a separate leverage or “balance sheet” channel with implications for macroeconomic volatility and financial stability.

Macroprudential or microprudential measures to counteract the build-up of excess leverage during upswings may contribute to reducing macroeconomic volatility and improving financial stability.

In contrast to previous studies, the panel dimension of data is used to take mean reversion in investment into account. The large, nationally representative panel data set allows to assess the macroeconomic relevance of the results, as well as enables subsample splits which are used to gain insights into potential mechanisms through which debt overhang impacts investment.

This paper aimed to explore the main strategies and approaches to innovation in professional service firms (PSFs), with a specific focus on accounting firms.

The paper relied upon a systematic literature review of previous studies to identify and reconcile the different approaches to innovation processes in accounting firms and further advance a conceptual framework for their discussion.

The findings, based on the review of 38 papers, revealed four main strategies around two main dimensions: the focus on internal/external features of the firm and the main source of innovation (technology and knowledge). The strategies may enable PSFs finding new opportunities and improving organizational performance.

The paper provides a conceptual framework in the form of a “strategy-innovation” matrix where four strategies emerged to support PSFs identifying possible approaches to innovation for new opportunities and improving their performance and services. In doing so, the paper bridges the main sources of innovation, knowledge and technology with key organizational features, considering structural/organizational aspects, cultural aspects, HR practices, collaborative behaviors, professional autonomy, service diversification and the role of professional networks and external actors.

The paper contributes to the literature by deepening understanding of innovation processes in PSFs, suggesting the need to develop a strategic orientation to innovation in these firms. In doing so, the paper also provides useful practical implications for the management of PSFs, suggesting an “innovation/strategy” matrix that might support the positioning of PSFs with reference to its approach to innovation.

This article aims to understand the role of intermediaries that manage innovation challenges in the healthcare scenario. More specifically, it explores the role of digital platforms in addressing data challenges and fostering data-driven innovation in the health sector.

For exploring the role of platforms, the authors propose a theoretical model based on the platform’s dynamic capabilities, assuming that, because of their set of capabilities, platforms may trigger innovation practices in actor interactions. To corroborate the theoretical framework, the authors present a detailed in-depth case study analysis of Apheris, an innovative data-driven digital platform operating in the healthcare scenario.

The paper finds that the innovative data-driven digital platform can be used to revolutionize established practices in the health sector (a) accelerating research and innovation; (b) overcoming challenges related to healthcare data. The case study demonstrates how data and intellectual property sharing can be privacy-compliant and enable new capabilities.

The paper attempts to fill the gap between the use of the data-driven digital platform and the critical innovation practices in the healthcare industry.

This paper aims to synthesize anticorrosion pigments containing tungsten for paints intended for corrosion protection of metals.

The anticorrosion pigments were prepared by high-temperature, solid-state synthesis from the respective oxides, carbonates and calcium metasilicate. Stoichiometric tungstates and core-shell tungstates with a nonisometric particle shape containing Ca, Sr, Zn, Mg and Fe were synthesized. The pigments were examined by X-ray diffraction analysis and by scanning electron microscopy. Paints based on an epoxy resin and containing the substances at a pigment volume concentration (PVC) = 10 volume per cent were prepared. The paints were subjected to physico-mechanical tests and to tests in corrosion atmospheres. The corrosion test results were compared to those of the paint with a commercial pigment, which is used in many industrial applications.

The tungstate structure of each pigment was elucidated. The core-shell tungstates exhibit a nonisometric particle shape. The pigments prepared were found to impart a very good anticorrosion efficiency to the paints. A high efficiency was demonstrated for the stoichiometric tungstates containing Fe and Zn and for core-shell tungstates containing Mg and Zn.

The pigments can be used with advantage for the formulation of paints intended for corrosion protection of metals. The pigments also improve the paints’ physical properties.

The use of the pigments in anticorrosion paints for the protection of metals is new. The benefits include the use and the procedure of synthesis of anticorrosion pigments which are free from heavy metals and are acceptable from the environmental protection point of view. Moreover, the core-shell tungstates, whose high efficiency is comparable to that of the stoichiometric tungstates, have lower tungsten content.

This paper aims to synthesise anticorrosion pigments containing molybdenum for paints intended for corrosion protection of metals.

The anticorrosion pigments were prepared by high-temperature solid-state synthesis from the appropriate oxides, carbonates and calcium metasilicate. Stoichiometric molybdates and core-shell molybdates with a non-isometric particle shape containing Ca, Sr, Zn, Mg and Fe were synthesised. The pigments were examined by X-ray diffraction analysis and scanning electron microscopy. Paints based on an epoxy resin and containing the substances at a pigment volume concentration of 10 volume per cent were prepared. The paints were subjected to physico-mechanical tests and to tests in corrosion atmospheres. The corrosion test results were compared to those of the paint with a commercial pigment, which is used in many industrial applications.

The molybdate structure of each pigment prepared was elucidated. The core-shell molybdates exhibit a non-isometric particle shape. The pigments prepared were found to impart a very good anticorrosion efficiency to the paints. A high anticorrosion efficiency was found with the pigments Fe₂(MoO₄)₃ and Fe₂(MoO₄)₃/CaSiO₃ and with Mg and Zn molybdates.

The pigments can be used for the formulation of paints intended for the corrosion protection of metals. The pigments also improve the paints’ physical properties.

The use of the pigments in anticorrosion paints for the protection of metals is new. The benefits include the use and the procedure of synthesis of the anticorrosion pigments which are free from heavy metals and are acceptable from the aspect of environmental protection. Moreover, the core-shell molybdates, whose high efficiency is comparable to that of the stoichiometric molybdates, have lower molybdenum contents.

This paper aims to improve decision making in credit portfolio management through analytical data-mining methods, which should be used as data availability and data quality of credit portfolios increase due to (semi-)automated credit decisions, improved data warehouses and heightened information needs of portfolio management.

To contribute to this fact, this paper elaborates credit portfolio analysis based on cluster analysis. This statistical method, so far mainly used in other disciplines, is able to determine “hidden” patterns within a data set by examining data similarities.

Based on several real-world credit portfolio data sets provided by a financial institution, the authors find that cluster analysis is a suitable method to determine numerous multivariate contract specifications implying high or, respectively, low profit potential.

Nevertheless, cluster analysis is a statistical method with multiple possible settings that have to be adjusted manually. Thus, various different results are possible, and as cluster analysis is an application of unsupervised learning, a validation of the results is hardly possible.

By applying this approach in credit portfolio management, companies are able to utilize the information gained when making future credit portfolio decisions and, consequently, increase their profit.

The paper at hand provides a unique structured approach on how to perform a multivariate cluster analysis of a credit portfolio by considering risk and return simultaneously. In this context, this procedure serves as a guidance on how to conduct a cluster analysis of a credit portfolio including advices for the settings of the analysis.

The purpose of this paper is to investigate the prevalence and types of country associations on product labels and packages across a range of grocery product categories.

An audit of New Zealand and Australian country associations as they appeared on products in 26 categories was conducted in a major New Zealand supermarket outlet.

The results of the content analysis of 788 brands revealed that the majority featured at least one country of origin (COO) association and indicated that they were either “made in” New Zealand or Australia.

Even though the findings are potentially restricted to the New Zealand context, this paper provides evidence of the prevalence of common and distinctive country associations across a diverse range of product categories. This suggests that these associations are still relevant to grocery manufacturers and supermarket retailers as a way of positioning their branded products.

The findings offer supermarket retailer buyers and regulatory agencies insight into the use of COO associations from the perspective of FMCG manufacturers. In addition, the findings provide FMCG manufacturers with an indication of the prevalence of different country associations in the categories that they compete.

In spite of debate about the costs and benefits of COO labelling and place references on grocery product packaging, little is known about how these associations are actually used by FMCG manufacturers. This paper addresses this question by auditing brands on the supermarket shelf.

Although writings in the fashion forecasting field often mention the connections between industry and culture, it still requires further clarifications in a context of uncertainty, fast pace changes and a high volume of information. This paper aims to explore fashion as a material culture to discuss forecasting roles in different stages of dialogue between culture and industry.

This paper explores the cultural aspects of fashion to discuss multiple roles of forecasting and its implications in the fashion system from a multidimensional perspective that interlaces culture and industry in contemporary contexts through a literature review in fashion forecasting and material culture. Recent nonacademic articles were also reviewed in order to highlight fresh perspectives in the field.

The literature review demonstrates that there are two main lines of reasoning in trend forecasting. First, trend forecasting as a cultural and predictive practice focused on understanding emerging shifts in the culture and translating them to the industry. The second approach considers trend forecasting as a strategic and curatorial practice that not merely predicts consumer's behaviors and preferences but intentionally acts as a filter of all the available possibilities curating and narrowing them down to organize the market around assertive information reducing financial losses risk. This article proposes an integration between the two perspectives – from culture to industry – in a contemporary context where consumers' tastes and preferences have become increasingly diverse, and early diffusion theories can no longer explain fashion spread.

Further investigations of contemporary and potential future trend forecasting roles and aspects could benefit from in-depth interviews and focus groups with industry experts, consumers and academics.

The paper intends to approximate theoretical reflections of fashion as a material culture to the current industry context.

It contributes to the studies of fashion forecasting, providing an overview of its development, roles and objectives, both from the industrial and material culture perspectives, which culminates in a framework that summarizes its intricate mechanisms.