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Omnichannel sales have provided new impetus for the development of catering merchants. The authors thus focus on how catering merchants should manage capacities at the ordering, production and delivery stages to meet customers’ needs in different channels under third-party platform delivery and merchant self-delivery. This is of great significance for the development of the omnichannel catering industry.

This paper formulates the capacity decisions of omnichannel catering merchants under the third-party platform delivery and merchant self-delivery mode. The authors mainly use queuing theory to analyze the queuing behavior of online and offline customers, and the impact of waiting time on customer shopping behavior. In addition, the authors also characterize the merchant’s capacity by the rate in queuing model.

The authors find that capacities at ordering stage and food production stage are composed of base capacities and safety capacities, but the delivery capacities only have the latter. And in the self-delivery mode, merchants can develop higher safety capacities by charging delivery fees. The authors prove that regardless of the delivery mode, omnichannel sales can bring higher profits to merchants by integrating demand.

The authors focus on analyzing the capacity management of omnichannel catering merchants at the ordering, production and delivery stages. And the authors also add the delivery process into the omnichannel for analysis, so as to solve the problem of capacity decision-making under different delivery modes. The management of delivery capacity and its impact on other stages’ capacities are not covered in other literature studies, which is one of the main innovations of this paper.

This chapter presents both main arguments of dividend policy theories and their empirical evidence. According to Miller and Modigliani (1961), dividend decisions are not relevant to firm value in a perfect capital market. Nevertheless, there are several market frictions in the real world (e.g., information asymmetry, agency problems, transaction costs, firm maturity, catering incentives and taxes). Therefore, academics use them to develop theories which help them explain corporate dividend decisions. Particularly, signaling theory considers dividend payments as a signal about firms' future prospects since outside investors face information disadvantage. “Bird-in-hand” theory argues that investors prefer dividends to capital gains since the former have lower risk than the latter. Agency theory is developed from the conflict of interest between corporate managers and shareholders. Corporate managers have high incentives to restrict dividend payments. Furthermore, transaction cost theory and pecking order theory posit that firms prefer internal to external funds. This drives firms to hold more cash and pay less dividends. Life cycle theory explains dividend policy by firm maturity. Mature firms have fewer investment opportunities, and thus, they tend to pay more dividends. Catering theory states that dividend decisions are based on investors' demand. Firms pay more dividends since investors prefer dividends and assign higher value to dividend payers. Tax clientele theory argues that firms that have corporate dividend policy rely on the comparative income tax rates for dividends and capital gains. Under the tax discriminations against dividends, firms tend to restrict their dividends in order to increase their stock prices.

The purpose of this paper is to investigate the effect of equity market misvaluation on manager behavior. Using a sample of 535 French-listed over 2000–2018, the authors analyze whether corporate investment decision is sensitive to equity market overvaluation.

The study adopts market-to-book (M/B) decomposition developed by Rhodes-Kropf and Viswanathan (2004, RKV) that proxies for market misvaluation at the firm and industry levels. The authors conducted a long-term performance analysis via a portfolio sorting procedure and a Carhart (1997) four-factor pricing model. The authors tested the relationship between equity misvaluation, corporate investment decisions and equity issuance. The authors ran several robustness tests.

The empirical results show that equity market misvaluation affects corporate investment positively as the stock price deviates further away from its fundamental. Based on market timing theory, the authors find that corporate investment occurs in periods of high valuation motivated by equity issuance to benefit from the low cost of capital. This effect is more prominent for financially constrained firms. Consistent with the catering channel, the authors find that the misvaluation-investment nexus is more pronounced in firms with short-horizon investors. By examining the stocks’ long-term performance of misvalued firms, via a sorting portfolio procedure, the authors find that undervalued firms outperform and generate higher abnormal returns (Jensen’s alpha) than overvalued firms, suggesting that mispricing-driven investment appear to be short-lived and lead to lower return in the long term.

Corporate decision-makers and governance structures should pay attention to the rationality of the corporate investment decision in the context of equity market misvaluation. Managers who focus on maximizing the stock market value in the short-run at the expense of its long-term performance must give preference to value-creating investment, not driven by an external mechanism such as equity market mispricing. More generally, investors and portfolio managers must take into account the market mispricing process in decision-making. Nonetheless, from the portfolio sorting perspective, decision-makers must act in terms of high governance quality to mitigate suboptimal investment due to stock market mispricing (Jensen, 2005). Finally, equity market overvaluation, leading managers to invest via equity financing in particular, should be a signal to attract investors’ attention to seize the window of opportunity and embark on a short-term portfolio strategy. Such a strategy promises high returns in the short term.

This paper investigates jointly two theoretical channels: equity market timing and catering. The authors propose for the analysis three components of the M/B decomposition to dissociate market misvaluation at the firm and industry level from the fundamental component of market value (growth). This procedure provides a better understanding of the role of firm and industry misvaluation in explaining corporate investments. The authors provide evidence of the equity market misvaluation via a portfolio sorting procedure and a Carhart (1997) four-factor pricing model. The authors examine the effect of misvaluation on both the investment and the financing decisions.

Given the significance of innovation in enabling firms to maintain a long-term competitive edge and secure excess profits, this paper aims to investigate whether and how stakeholders’ attention to innovation (SATI) influences corporate innovation.

This paper introduces a novel variable, SATI, which is achieved by segmenting stakeholders’ attention into two categories: attention to innovation and attention to other facets, using textual analysis methods. Subsequently, this paper empirically examines the influence of SATI on corporate innovation.

This paper finds that SATI positively affects corporate innovation input, and the result remains true after addressing possible endogeneity issues using instrumental variable regression. Furthermore, the positive effect of SATI on corporate innovation is stronger in firms facing greater financing constraints, thus verifying the financing constraints hypothesis. The positive effect is also stronger in firms with lower risk-taking levels, thus confirming the innovation failure tolerance hypothesis. Further analysis suggests that SATI increases both corporate innovation output and efficiency, thus ruling out the catering hypothesis.

This paper highlights the importance of SATI in driving corporate innovation. It enriches the literature on the repercussions of stakeholders’ attention and determinants of corporate innovation. In addition, it provides practical suggestions for further implementing China’s national innovation-driven development strategy.

Meat overconsumption by tourists is one of the key issues in the sustainability of tourist destinations. The objective of this paper is to assess the impact that a promotion of meatless gastronomy and its actual increased availability would have on the attractiveness and visitation of a popular European urban destination.

The research uses an innovative foresight approach that combines environmental scanning and scenarios. The authors formulated the scenarios using the Delphi technique and working with 27 scholars whose insights into the topic were enhanced through theses that resulted from the environmental scanning. They provided their insights into how a promotion of meatless gastronomy would affect a destination. Subsequently, the authors synthetized their insights and formulated the scenarios.

Based on two defined scenarios, the authors found that a meatless image represents an opportunity for the future development of an urban European destination. A long-term growth in visitor numbers can be achieved while ensuring environmental, economic and socio-cultural sustainability providing that relevant stakeholders are involved in the promotional activities.

Management of tourists' unsustainable eating habits is currently an unexplored issue. The present research addresses this topic and provides valuable insights that will help to address sustainability issues while making tourism destinations more attractive.

The article aims to investigate how washing practices focused on appeasing sceptics of diversity work in for-profit organizations play out in corporate online communication of diversity and inclusion efforts, and how these enable communication to a wide audience that includes social equity advocates.

Online corporate communication data of diversity and inclusion themes were compiled from the websites of eight Swedish-based multinational corporations. The data included content from the companies’ official websites and annual reports and sustainability reports as well as diversity and inclusion-themed blog posts. A thematic analysis was conducted on the website content.

The study showcases how tensions between conflicting external demands are navigated by keeping the communication open to several interpretations and thereby achieving multivocality. In the studied corporate texts on diversity and inclusion, this is achieved by alternating between elements catering to a business case audience and those that appeal to a social justice audience, with some procedures managing to appease both audiences at the same time.

The article complements previously described forms of washing by introducing an additional type of washing – business case washing – an articulation of the business case rhetoric that characterizes the diversity management discourse. While much has been written about washing to satisfy advocates of social change and equity, washing to appease shareholders and boardroom members, who are focused on profit and economic growth, has received less attention. The article suggests that online corporate communication on diversity and inclusion, by appeasing diverse audiences, can be seen as aspirational talk.

This case reviews the development of Dianping. After seeing Zagat's unique business model in the United States, founder Zhang Tao found that he could bring it to China and bring about local innovation. At the beginning of its establishment, the collection and promotion of comment content was the major challenge for Dianping. At the same time, Dianping faced legal issues. To solve these problems, the review mechanism of Dianping was designed to a certain extent to ensure the fairness of the review. With the advent of the mobile Internet era, Dianping began to develop a new business model. Relying on its high-quality “word-of-mouth” content and mass basis, Dianping launched group buying, online restaurant ordering, and other businesses. Dianping has always been open to strategic partners. Since 2015, Dianping has undergone historical changes, merging with Meituan. Since then, Dianping has continuously adjusted its business and organizational structure to maintain its competitiveness. Gradually, Dianping has changed from an independent business entity into a business unit of Meituan.

Drawing on the mSERVQUAL model and spillover theory, this study aims to examine the mechanism through which food-ordering mobile app service quality influences users’ mobile app satisfaction, food satisfaction and repurchase intentions.

Online surveys were completed by 1,000 customers who used a food-ordering mobile app to order fast food on the day they completed the online survey. Structural equation modelling was then used to examine the proposed mechanism.

Results showed that the effects of food-ordering mobile app service quality on customer satisfaction (i.e. mobile app satisfaction and food satisfaction) and repurchase intention varied widely across service quality dimensions. Mobile app service quality had significant spillover effects on food satisfaction and repurchase intention.

Online food-delivery platforms should find the results insightful to better design their food-ordering mobile app. The findings can also assist restaurateurs and mobile payment companies with supporting the whole online food delivery process.

Rather than examining online food delivery service quality based on the service delivery process in the during-consumption stage or the service outcomes in the post-consumption stage, this study focused on the service quality in the pre-consumption stage to highlight the important role of online food delivery mobile apps. From a longitudinal perspective, this study drew on the associate network theory to explain the spillover effect of mobile app satisfaction in the pre-consumption stage on food satisfaction in the during-consumption stage and repurchase intention in the post-consumption stage.

Prospective students and other stakeholders in the education system use global and national rankings as a measure of the quality of education offered by different higher educational institutions. The ranking of an Institution is seen as a measure of reputation and has a significant role in attracting students. But are students happy in the top-ranked institutions? Does a high rank translate into high student satisfaction? This study answers this question taking data from top educational institutions in India.

This study examines how the top-ranked higher education institutions in India fare on student satisfaction. Using the data on key performance indicators published by the National Institutional Ranking Framework (NIRF) and student satisfaction scores of these institutions reported by NAAC, the study explores a possible relationship between the ranking of an institution and its student satisfaction score.

The study finds no significant relationship between the ranking of an institution and its student satisfaction score. The only institutional performance dimension which has a positive correlation with student satisfaction is graduate outcome. The diversity dimension is seen to be negatively correlated with student satisfaction.

The importance of modifying the ranking frameworks to account for the real drivers of student satisfaction is highlighted. The items in the student satisfaction survey should be regularly updated to reflect the actual concerns of the students. This is very important given the fact that the number of Indian students going abroad for higher education recorded a six-year high in 2022 at 750,365.

With more than 50,000 institutions catering to over 40 million students, India has the largest higher education system in the world. Given the high level of competition among these institutions, ranking and accreditation have become important parameters used by students for selection of an institution. But do top-ranked higher education institutions have the most satisfied student community? The assumption is disproved using the most credible secondary data. This study is the first of its kind in the Indian context. It has huge implications for the most respected ranking frameworks.

This study aims to investigate the potential impact and passenger perceptions of integrating multimedia books within airline services, aiming to elucidate the evolving landscape of in-flight entertainment and reading experiences.

A quantitative research methodology was used, using a structured questionnaire distributed to presenters at the International Federation of Library Associations.

Analysis revealed varying passenger interest in multimedia books, with approximately 57.7% displaying engagement, while 40.4% demonstrated limited interest or none. However, a notable majority (60.6%) preferred multimedia books over traditional print books during flights. Furthermore, 90.4% perceived a positive impact of multimedia books on flight reading experiences, leading to increased satisfaction (81.7%) and a high likelihood of recommending airlines offering such content (91.3%).

The study's limitations include a specific focus on International Federation of Library Associations and Institutions (IFLA) World Library and Information Congress (WLIC) presenters, potentially limiting broader generalisations. Further research might explore the preferences of a wider demographic range and incorporate qualitative aspects to deepen understanding. Airlines could leverage multimedia books to enhance passenger satisfaction, attract diverse audiences and foster cultural inclusivity within in-flight entertainment.

This study contributes insights into the evolving landscape of in-flight entertainment, emphasising the significant potential and positive impact of integrating multimedia books within airline services. It underscores the importance of catering to diverse passenger preferences and enhancing overall satisfaction during air travel.