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The effects of ownership concentration on firm performance usually considers two conflicting perspectives: monitoring and expropriation hypotheses. Past studies have produced mix findings. This study aims to shed light on this relationship by focusing on a specific measure of firm performance, firm growth. The moderating effect of industry growth in the aforementioned relationship is also considered, which advances knowledge on the role of moderators.

This study resorts to data from a sample of 21,476 Portuguese firms, which is examined using hierarchical linear modelling. This approach is adequate because the data has a hierarchical structure: the firms are nested within industries.

The results show that equity ownership concentration has a positive effect on firms’ growth and that industry growth amplifies this relationship. Ownership concentration can spur effective monitoring, thereby alleviating principal–agent conflicts of interest and speeding up decision-making, enabling timely competitive actions that promote growth.

The research conceives ownership structure in two groups. However, equity ownership concentration often acquires more complex shapes. In addition, the data used is from a single country.

The results show that firms pursuing growing strategies and operating in growing industries benefit from equity concentration.

Different from past studies, this study focuses on firm growth performance and considers the moderating effect of industry growth.

This study aims to investigate the relationship between stock markets, environmental, social and governance (ESG) factors and Shariah-compliant in an integrated framework.

The authors employ the multivariate factor stochastic volatility (mvFSV) framework to extract the volatility of the different sectoral indices. Based on this evidence, the authors employ the quantile vector autoregressive (QVAR) approach to examine the dynamic spillover connectedness among the aforementioned indices.

The study emphasizes the following major findings: (1) significant time-varying spillover connectedness across quantiles, (2) bidirectional and asymmetric spillover effect among the ESG index and the other sectoral indices, (3) the strength of spillover connectedness is time-varying across quantiles, (4) based on the perspective of portfolio optimization, ESG market is a significant strong forecasting contributor to conventional and Shariah-compliant markets, (5) overall, the findings point out serious quantile pass-through effect among ESG index and the other sectoral indices during the COVID-19 health crisis.

This study extends the previous literature in the following ways. First, to the best of the researchers’ knowledge, none of the existing studies have investigated the relationship between stock markets, ESG factors and Shariah-compliant in an integrated framework. Second, this study extends the previous scholarships by applying the mvFSV. Third, the authors propose a new rolling version to estimate dynamic spillovers, namely the rolling-window quantile VAR method. This approach provides a great advantage in computing the dynamics of return and variance spillover between variables in terms not only of the overall factor but also of the net (pairwise) aspect.

In recent decades, infrastructure has continued to develop as an important basis for social development and people's lives. Resource management of these large-scale projects has been immensely concerned because dozens of construction enterprises (CEs) often work together. In this situation, resource collaboration among enterprises has become a key measure to ensure project implementation. Thus, this study aims to propose a systematic multi-agent resource collaborative decision-making optimization model for large projects from a matching perspective.

The main contribution of this work was an advancement of the current research by: (1) generalizing the resource matching decision-making problem and quantifying the relationship between CEs. (2) Based on the matching domain, the resource input costs and benefits of each enterprise in the associated group were comprehensively analyzed to build the mathematical model, which also incorporated prospect theory to map more realistic decisions. (3) According to the influencing factors of resource decision-making, such as cost, benefit and attitude of decision-makers, determined the optimal resource input in different situations.

Numerical experiments were used to verify the effectiveness of the multi-agent resource matching decision (MARMD) method in this study. The results indicated that this model could provide guidance for optimal decision-making for each participating enterprise in the resource association group under different situations. And the results showed the psychological preference of decision-makers has an important influence on decision performance.

While the MARMD method has been proposed in this research, MARMD still has many limitations. A more detailed matching relationship between different resource types in CEs is still not fully analyzed, and relevant studies about more accurate parameters of decision-makers’ psychological preferences should be conducted in this area in the future.

Compared with traditional projects, large-scale engineering construction has the characteristics of huge resource consumption and more participants. While decision-makers can determine the matching relationship between related enterprises, this is ambiguous and the wider range will vary with more participants or complex environment. The MARMD method provided in this paper is an effective methodological tool with clearer decision-making positioning and stronger actual operability, which could provide references for large-scale project resource management.

Large-scale engineering is complex infrastructure projects that ensure national security, increase economic development, improve people's lives and promote social progress. During the implementation of large-scale projects, CEs realize value-added through resource exchange and integration. Studying the optimal collaborative decision of multi-agent resources from a matching perspective can realize the improvement of resource transformation efficiency and promote the development of large-scale engineering projects.

The current research on engineering resources decision-making lacks a matching relationship, which leads to unclear decision objectives, ambiguous decision processes and poor operability decision methods. To solve these issues, a novel approach was proposed to reveal the decision mechanism of multi-agent resource optimization in large-scale projects. This paper could bring inspiration to the research of large-scale project resource management.

The current study mainly focuses on the effect of varying diameter recycled steel fibers (RSF) on mechanical properties of concrete prepared with 25 and 50% of recycled coarse aggregate (RCA) as well as 100% natural aggregate (NA). Two types of RSF with 0.84 mm and 1.24 mm diameter having 30 mm length were incorporated into normal and recycled aggregate concrete (RAC).

The fresh behavior, compressive, splitting tensile, flexural strengths and modulus of elasticity of all the mixes were investigated to evaluate the mechanical properties of RACs. In addition, specimen crack and testing co-relation were analyzed to evaluate fiber response in the RAC.

According to the experimental results, it was observed that mechanical properties decreased with the increment replacement of NA by RCA. However, the RSF greatly improves the mechanical properties of both normal concrete and RACs. Moreover, mixes containing 1.24 mm diameter RSF had a more significant positive impact on mechanical properties than mixes containing 0.84 mm diameter RSF. The 0.84 mm and 1.24 mm RSF addition improved the mixes' compressive, splitting tensile and flexural strength by 10%–19%, 19%–30% and 3%–11%, respectively when compared to the null fiber mix. Therefore, based on the mechanical properties, the 1.24 mm diameter of RSF with 25% replacement of RCA was obtained as an optimum solution in terms of performance improvement, environmental benefit and economic cost.

The practice of RCA in construction is a long-term strategy for reducing natural resource extraction and the negative ecological impact of waste concrete.

This is the first study on the effects of varying size (0.84 mm and 1.24 mm diameter) RSF on the mechanical properties of RAC. Additionally, varying sizes of RSF and silica fume added a new dimension to the RAC.

During COVID-19 restrictions, people spent more time in cyberspace and consuming health-related information. An increase was also observed in mediated caring messages or health-relevant information sent to one another. This study aims to explore how the information and interactions around COVID-19 can provide a good learning opportunity for public health, specifically related to eHealth literacy and eHealth promotion.

While mainstream literature has concentrated on experimental designs and a priming effect, this study inspects psychological distance related to a health threat under real-life circumstances. The article adopted a survey approach and utilized PLS-SEM techniques to examine the proposed hypotheses.

Results indicated that whereas closer social support correlates with closer psychological distance and less usage of the social media approach, more substantial COVID-19 impacts were associated with closer psychological distance but greater use of social media. Since both closer psychological distance and social media approach contribute to eHealth literacy, social support from closer and virtual social networks should be embraced but utilized through different routes and for different purposes. The timing of messages but not psychological distance affects people's social media approach, indicating that morning messages should be employed. Moreover, eHealth literacy mediates timing preferences and leads to a preference for eHealth communication earlier in the day. Overall, morning messages create a virtuous circle during a health crisis.

This paper establishes a mechanism of virtuous cycles for eHealth communication during a health threat. Additionally, it bridges existing research gaps by expanding chronopsychology and CLT in the health domain using an empirical approach, a real-life case and an extension of performance regarding information-seeking and utilization.

The purpose of this study is to investigate the effects of a pigment coating on the mechanical properties of fluting paper.

Two different calcium carbonate pigments were used in the preparation of the coated color, precipitated calcium carbonate (PCC) and ground calcium carbonate (GCC). Fluting paper produced by recycling waste paper was used as base paper. The effects of PCC and GCC pigments on mechanical properties were compared. Ring crush test (RCT), corrugating medium test (CMT), corrugating crush test (CCT), tensile and burst strength tests were applied to the coated papers, and the results were compared to the mechanical properties of base paper.

The tensile and burst indices of the coated papers were found to be higher than base papers about 13.9% and 6.05%, respectively. While the coating process positively affected the RCT and CCT values, it did not show a significant impact on the CMT values. GCC, one of the pigments used in coating colors, had a more effective effect on the mechanical properties of fluting papers compared to PCC.

These results suggest that coating of fluting papers has a positive effect on mechanical properties and the use of GCC as a pigment is more effective than PCC.

This study aims to propose iStage, i.e. an intelligent hybrid deep learning (DL)-based framework to determine the stage of the disaster to make the right decisions at the right time.

iStage acquires data from the Twitter platform and identifies the social media message as pre, during, post-disaster or irrelevant. To demonstrate the effectiveness of iStage, it is applied on cyclonic and COVID-19 disasters. The considered disaster data sets are cyclone Fani, cyclone Titli, cyclone Amphan, cyclone Nisarga and COVID-19.

The experimental results demonstrate that the iStage outperforms Long Short-Term Memory Network and Convolutional Neural Network models. The proposed approach returns the best possible solution among existing research studies considering different evaluation metrics – accuracy, precision, recall, f-score, the area under receiver operating characteristic curve and the area under precision-recall curve.

iStage is built using the hybrid architecture of DL models. It is effective in decision-making. The research study helps coordinate disaster activities in a more targeted and timely manner.

This paper aims to discern the potential dimensions amid the duality of heritage tourism and peace. Reflecting on the phases of destruction and rebuilding of Seated Buddha of Jahanabad, this study used the content analysis of 40 news sources, to unravel the resultant avenues of heritage tourism and peace.

Following the qualitative research strategy, the interface of NVivo 12 has been used to transcribe the textual and visual content of media news. The media news aired on the incident of destruction phase in 2007, and rebuilding drive in 2012–2016 were the two sets of collected data. A hierarchy of thematic analysis was adopted to identify nodes, subthemes and themes.

Findings of this study highlighted six themes: peaceful imagery, PI; heritage dissonance, HD, vs interfaith harmony, IH; peace allegory through restoration, PAR; precursor of heritage sustainability, PHS; community heritage consonance, CHC; and heritage touristic valuation, HTV.

This study lacks statistical data of the quantitative research domain. Aimed at a single heritage site, it analyzed limited number of news sources.

This study offers implications for industrial, theoretical, managerial and governmental stakeholders in their respective domains. Moreover, it also provides takeouts for common readers.

This study contends a significant research issue and analyzes the destruction and rebuilding of a heritage site in a developing country. Primarily in the sociogeographic context of the research issue, the resultant dimensions are novel and demanding.

This study aims to examine the multidimensional nature of institutional distance as a driver of acquisition decisions in emerging markets. Then, this study aims to offer a nuanced perspective on the role of its various formal and informal dimensions by taking into account the potential contingency role played by a firm’s context experience.

Building on institutional economics and organizational institutionalism, this study explores the heterogeneity of institutional distance and its effects on the decision to enter emerging versus advanced markets through cross-border acquisitions. Thus, institutional distance is disentangled into its formal and informal dimensions, the former being captured by regulatory efficiency, country governance and financial development. Furthermore, our framework examines the moderating effect of an acquiring firm’s experience in institutionally similar environments, defined as context experience. The hypotheses are analyzed on a sample of 496 cross-border acquisitions by Italian companies in 41 countries from 2008 to 2018.

Findings indicate that at an increasing distance in terms of regulatory efficiency and financial development, acquiring firms are less likely to enter emerging markets, while informal institutional distance is positively associated with such acquisitions. Context experience mitigates the negative effect of formal distance and enhances the positive effect of informal distance.

This study contributes to institutional distance literature in multiple ways. First, by bridging institutional economics and organizational institutionalism and second, by examining the heterogeneity of formal and informal dimensions of distance, this study offers a finer-grained perspective on how institutional distance affects acquisition decisions. Finally, it offers a contingency perspective on the role of context experience.

Diversity in boards has gained attention as a reflection of societal imbalances. The purpose of this paper is to investigate the impact of diversity in terms of both gender and nationality in management boards of small and medium-sized enterprises (SMEs) on firm performance from an upper echelons perspective. The authors also examine how board-specific characteristics influence the structural makeup of boards in gender and nationality diversity terms.

The authors focus on the UK because of its individualistic society and flexible labour market and assess 309 SMEs in the manufacturing industry over 2009–2019. A 3-stage least squares (3SLS) estimator is used to analyse the data, the Shannon index to measure board diversity, return on assets as proxy for firm performance, and owner-manager presence, board member age and tenure are the board-specific characteristics of primary interest.

Both gender and nationality diversity contribute to firm performance and represent distinct upper echelon characteristics that change the cognitive and psychological dynamics of boards. Firms with larger boards do not perform better, but diverse boards reduce the narrowing view of CEOs. Yet the presence of owner-managers, despite their performance-enhancing contribution, holds firms back from benefitting from diversity as a strategic choice.

This study extends the upper echelons theory to include board diversity as an important aspect that should become more central in upper echelon thinking when understanding firm performance. The authors’ findings suggest that theoretical developments in search of understanding firm behaviour must proceed by accounting for diversity and not simply focusing on decision-making styles.