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This study explores whether herd behavior exists for equity crowdfunding investors in China and whether this herding is rational.

Based on signaling theory and social learning theory, two hypotheses were proposed. This study employed two approaches to collect data. First, this paper analyzed 3,041 investments on an equity crowdfunding platform in China using Python programming and built a panel data model. Second, based on a unique experiment design, this study conducted several relevant herd behavior simulation experiments.

We found that investors in the Chinese equity crowdfunding market exhibit herd behavior and that this herding is rational. Project attributes play a negative role in moderating the relationship between the current investment amount and cumulative investments. Experimental results further support our findings.

This study contributes to the emerging literature on herding in crowdfunding by focusing on equity crowdfunding in China. We are the first to explore whether Chinese equity crowdfunding investors exhibit rational herding behavior. The study is also original in applying social learning theory to equity crowdfunding and in using both actual crowdfunding campaigns and experimental approaches to collect data. This study has valuable implications to practice.

From the buying club’s perspective, the transfer of a player can be interpreted as an investment from which the club expects uncertain future benefits. This paper aims to develop a decision-oriented approach for the valuation of football players that could theoretically help clubs determine the subjective value of investing in a player to assess its potential economic advantage.

We build on a semi-investment-theoretical risk-value model and elaborate an approach that can be applied in imperfect markets under uncertainty. Furthermore, we illustrate the valuation process with a numerical example based on fictitious data. Due to this explicitly intended decision support, our approach differs fundamentally from a large part of the literature, which is empirically based and attempts to explain observable figures through various influencing factors.

We propose a semi-investment-theoretical valuation approach that is based on a two-step model, namely, a first valuation at the club level and a final calculation to determine the decision value for an individual player. In contrast to the previous literature, we do not rely on an econometric framework that attempts to explain observable past variables but rather present a general, forward-looking decision model that can support managers in their investment decisions.

This approach is the first to show managers how to make an economically rational investment decision by determining the maximum payable price. Nevertheless, there is no normative requirement for the decision-maker. The club will obviously have to supplement the calculus with nonfinancial objectives. Overall, our paper can constitute a first step toward decision-oriented player valuation and for theoretical comparison with practical investment decisions in football clubs, which obviously take into account other specific sports team decisions.

Current research aims to investigate the relationships between Chinese national cultural values (uncertainty avoidance (UA), power distance, masculinity (MAS), individualism (IDV) and Confucian dynamism) and accounting practices (professionalism, uniformity, conservatism and secrecy).

A sample of 842 users/preparers of financial statements participated in this cross-sectional, questionnaire-based survey from China. Covariance-based structural equation modeling (CB-SEM) was used to test the proposed relationship.

Results show that cultural values strongly impact financial reporting practices in China. Chinese society is characterized by low UA, high power distance, collectivism, future orientation (Confucianism) and masculine traits. These values show an overall preference for uniformity, conservatism and secrecy in financial reporting with weak professionalism. The findings show that Chinese society emphasizes law abidance, strict codes of conduct, written rules and regulations and respect for consistent orthodox measures.

This study provides valuable input for policymakers in developing regulations and accounting standards in the Chinese market. Understanding the relationship between cultural dimensions and accounting values helps to address societal challenges and align policies with cultural values to acquire desired financial reporting values. Global firm managers must consider cultural dimensions in accounting when entering Chinese markets or negotiating with partners from different cultures. Findings also suggest local managers gain self-awareness of their cultural biases and accounting values, enabling them to navigate businesses and society's financial reporting needs.

This study enriches the existing literature on cultural and accounting practice studies by validating the role of stakeholder and social contract theories in Gray–Hofstede’s framework and highlighting the influence of dominant cultural values on accounting values. The study provides a unique empirical analysis of the Chinese market by using a questionnaire survey and structural equation modeling (SEM). Further, it also opens avenues for future research on the relationship between cultural dimensions, accounting practices and their global impact. These findings emphasize the importance of cultural sensitivity and adaptability, especially in multicultural environments.

This study explores family firms' ex ante conflict management strategies to preserve their socioemotional wealth (SEW) under predictable conflict through the succession process. Specifically, the authors examine how family firms leverage the insurance-like benefits of corporate social responsibility (CSR) to mitigate the threat of foreseeable family feuds among the sons of firms' family heads.

The authors focus on the charitable donations pledged by Korean family business groups (chaebols). Using the data of 62 chaebols with generalized least squares (GLS) models, the authors analyze 711 observations from 2005 to 2017.

The authors find a positive relationship between the number of sons of a family firm's head and the firm's CSR activities such as spending on charitable donations. Furthermore, the number of daughters of heads in executive positions strengthens such a positive relationship, whereas the number of business and political marriage ties weakens this relationship.

Family heads of family businesses may leverage CSR activities and marriage ties to elite families interchangeably to ward off negative impacts from foreseeable family feuds and preserve their SEW. Thus, a policy-based incentive for CSR that encourages more family heads to use CSR as insurance would serve the public interest.

The authors contribute to the family business literature by suggesting that CSR activities can be used by family firms as an instrument to mitigate foreseeable damage to the SEW caused by family feuds. The authors also shed new light on CSR research by finding that marriage ties to elite families may reduce the strategic value of CSR activities.

Amidst the turbulent tides of geopolitical uncertainty and pandemic-induced economic disruptions, the information technology industry grapples with alarming attrition and aggravating talent gaps, spurring a surge in demand for specialized digital proficiencies. Leveraging this imperative, firms seek to attract and retain top-tier talent through generous compensation packages. This study introduces a holistic, integrated theoretical framework integrating machine learning models to develop a compensation model, interrogating the multifaceted factors that shape pay determination.

Drawing upon a stratified sample of 2488 observations, this study determines whether compensation can be accurately predicted via constructs derived from the integrated theoretical framework, employing various cutting-edge machine learning models. This study culminates in discovering a random forest model, exhibiting 99.6% accuracy and 0.08° mean absolute error, following a series of comprehensive robustness checks.

The empirical findings of this study have revealed critical determinants of compensation, including but not limited to experience level, educational background, and specialized skill-set. The research also elucidates that gender does not play a role in pay disparity, while company size and type hold no consequential sway over individual compensation determination.

The research underscores the importance of equitable compensation to foster technological innovation and encourage the retention of top talent, emphasizing the significance of human capital. Furthermore, the model presented in this study empowers individuals to negotiate their compensation more effectively and supports enterprises in crafting targeted compensation strategies, thereby facilitating sustainable economic growth and helping to attain various Sustainable Development Goals.

The cardinal contribution of this research lies in the inception of an inclusive theoretical framework that persuasively explicates the intricacies of a machine learning-driven remuneration model, ennobled by the synthesis of diverse management theories to capture the complexity of compensation determination. However, the generalizability of the findings to other sectors is constrained as this study is exclusively limited to the IT sector.

This research explores the moderating role of empowering leadership, job-related stress and workplace politics on the link between employee creativity and innovation output.

To test the hypothesized relationships, the authors used a questionnaire survey to nest the data from subordinates (n = 388) and their supervisors (n = 151) working for the emerging markets of Pakistan and analyzed data by using the SmartPLS-SEM technique.

Employee creativity is positively associated with innovation output. The moderation by empowering leadership and employee job-related stress further strengthens the association between employee creativity and innovation output. However, the creativity of employees is not directed toward innovation if they are involved in politics.

The findings will help modern managers to understand the importance of enhancing employee creativity through empowering leadership. Such leadership delegates authority enables employee motivation, develops a conducive working environment by eliminating workplace politics and ensures the well-being of employees. It offers employees the confidence to unleash their creative efforts for innovation.

The managers can benefit from the findings: a) to enhance the abilities of creative employees for innovation outputs by practicing the role of empowering leadership, b) the extent to which employees display job-related stress and enhances their innovation outputs and c) to be aware of the inverse effects of creative employees' involvement in workplace politics on innovation.

Although the previous research was well established on the link between creativity and innovation, the authors knew a little about the factors that can strengthen/weaken this relationship. The authors believe that the findings are a small effort to solve the pieces of the puzzle in the literature.

The purpose of this study was to explore the influence of entrepreneurial attitudes, motivation and orientation on the entrepreneurial competitive advantage of innovative entrepreneurs in the tourism and hospitality industry, including those involved with bed and breakfasts, travel agencies and restaurants.

First, the sample for this study was selected through news media reporting on well-known new entrepreneurs, from lists of those entrepreneurs who have won innovation entrepreneurship loan subsidies from the government and from lists of those who have won innovation awards. Second, a pretest was used to confirm the feasibility of the questionnaire. The pretest survey was distributed to a total of 150 tourism and hospitality entrepreneurs. A total of 8 dimensions/facets and 36 items were confirmed. Finally, data collection took place for 9 months. A total of 1,150 questionnaires were distributed, and 606 questionnaires were recovered.

This study proposes a new multi-integration model of moderation-mediation analysis. The innovative business model explores the relationship between entrepreneurial factors and competitive advantage. Based on a survey of 606 staff members and managers of tourism and hospitality firms, entrepreneurs in the tourism and hospitality industry with entrepreneurial attitudes and motives had opportunities to increase their entrepreneurial orientation.

In the process of innovative entrepreneurship, whether through organizational learning or other enterprise cooperation, it is necessary to pay more attention and propose different environmental management strategies. In addition, this study also found that marketing uncertainty moderates between entrepreneurial attitudes and entrepreneurial motives. Entrepreneurial motives are more conservative than other motives, and there is increased confidence in investing in innovative entrepreneurship in stable environments.

This study indicates that innovative entrepreneurial tourism and hospitality firms have a mediating or moderating effect on the relationship between entrepreneurial attitudes and positional advantage. If used properly, these resources can help the new entrants in the tourism and hospitality sector avoid the limitations of environmental change, firm size or insufficient information and improve their competitive advantage.

The study examines how the interactions among three prominent institutional logics—state, market and religion—fundamentally shape the patterns of individuals’ engagement in social entrepreneurship (SE).

The study develops a configurational theoretical framework and uses fuzzy-set qualitative comparative analysis to test the hypotheses by gathering data on social ventures from 35 countries from the World Values Survey and Global Entrepreneurship Monitor.

The results show that the prevalence of social entrepreneurial ventures is enabled by different combinations of logics of action, governance mechanisms, strength of religious beliefs and religious pluralism.

This research reveals that the relationship between institutional logic profiles and SE is contingent on the coherence between different institutional logics.

The use of digital technology in firms has drawn attention of innovation management scholars and policy-makers, especially the imitation of digital technology and competition among peer firms. Drawing on dynamic competition theory, this paper examines how firms react to their peers' digital innovation behavior and the effect of external environment mechanisms on the magnitude of peer effects.

This paper utilizes a text mining method to construct a baseline model with a Tobit estimator using data obtained for Chinese listed firms.

The findings suggest that peer effects on digital innovation behavior are robust and significant positive in China. Moreover, peer effects on digital innovation participation are positively magnified by firms' strong social network and high Fintech development. However, peer effects are relatively higher in non-state-owned enterprises (non-SOEs), low-profitability and high R&D firms.

The authors' findings contribute to the digital management literature by showing that firms need digital technological imitation and diffusion of innovations in the digital era.

Managers should provide insights into firms' imitation of their peers' acts to preserve competitive parity. Besides, firms should integrate employees within the organization and communicate digital innovation concepts and behaviors to external peer firms.

First, this paper contributes to explaining how firms change their digital innovation strategy through the influence of peers' digital innovation behavior. Second, this paper fills the literature gaps related to the moderating effects of external environment factors in peer effects of digital innovation behavior.