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Firm performance remains at the heart of strategic management. In the quest to refine the field’s contribution, Venkatraman and Ramanujam (1986) argued that reliance upon single measures of firm performance is risky and firm performance should be treated as a multidimensional construct. Subsequently, researchers have examined trends in firm performance measurement ever since. Over a decade since the last examination of this issue, this study aims to add to the ongoing conversation.

The authors investigated 1,972 research papers published in five premier management journals for the years 2015–2019 to determine if multidimensional measurement of firm performance has improved.

The findings suggest that approximately two-thirds of papers that measure firm performance are published using only a single measure of firm performance, and approximately three-fourths do not measure firm performance across multiple dimensions.

This study contributes to the literature by emphasizing the necessity to consider the dimensionality of firm performance, use multiple measures and consistently ground firm performance variables with theory – especially control variables – to keep firm performance as the focus of the strategy field. Evidence and implications are discussed and recommendations for researchers and reviewers are provided.

There is still an ongoing debate on the value relevance of capital structure and its determinants. Recently the issue has been explored in family firms after being explored in mature firms. This paper investigates the role of institutional investors and the firm's innovation activity in influencing the firm's decision and ability to acquire debt capital.

A large sample of 700 privately-held family firms in Italy from 2010 to 2019. Two analysis techniques are used: panel analysis and path analysis. The value of debt and the debt ratio are used as leverage measures. The value of patent (as a proxy for innovation) and institutional investor are the explanatory variables.

The results show that institutional investors have no relationship with financial leverage measures except when controlling for an interaction variable (Institutional investors × Lombardy region). The patent value is positively correlated with debt; however, the ratio patent-to-asset is negatively related to financial leverage indicating higher risk exposure. The nonlinearity test demonstrates a turning point when the relationship between patent value and debt inverts.

Firms should monitor their innovation activity since excessive innovation increases risk exposure and affects financing opportunities and value. The involvement of institutional investors does not always enhance value.

Existing literature focuses separately on family firm innovations and financial leverage as outcome variables, emphasizing the role of institutional investors in both fields by adopting agency theory and socioemotional wealth framework. In this study, the authors go further by merging both relationships, investigating the dynamics of the institutional-family firm innovation relationship in influencing the firm's capital structure. The authors contribute to the ongoing debate by providing original findings on capital structure, governance and innovation, supported by rigorous methods to enhance family firms' decision-making.

This study investigates the media activities of firms issuing private equity placements and seasoned equity offerings in Taiwan, as firms have incentives to manage media coverage to influence their stock prices during private equity placement.

We collect a corpus of news stories and transform the news into term sets based on the part of speech. Then, we refer to Cecchini et al. (2010) to classify the news terms into positive, negative, and usual categories. Next, we employ the SVM algorithm to perform the classification tasks and the term frequency method to perform the text mining task. In last, we use a multiple regression model to verify the hypotheses.

We determine that issuing firms in a private placement have substantially more positive news stories and fewer negative news stories than those in public offerings. Furthermore, we evidence that the media management effects of postequity issues are more active than those of preequity issues. Finally, our results demonstrate that the timing and content of financial media coverage among different equity issuance methods may be biased by firm management. According to previous studies, they may attempt to manipulate stock prices to increase the number of highly profitable insider stakeholders.

To our knowledge, this is the first study to investigate that if private placement will associate with more active media management than the public offerings. According to our results of the difference-in-means test, the public offerings market may control news coverage; however, this result is inconsistent with that of the regression results. The private placements market may also exercise media management in the “before announcement day” and “after announcement day” periods by increasing positive news and reducing negative news.

This study aims to examine how young consumers perceive the advertising effectiveness of endorsements by virtual idols and how endorsements by virtual idols differ from endorsements by real human celebrities such as traditional celebrities and online influencers.

An experimental study was conducted with 400 randomly selected young respondents in China in December 2022. A 3 × 2 factorial design was used to test how the type of celebrity endorser and level of product involvement influence the persuasiveness of advertising aimed at young adults. Among 400 respondents, the average age was 21.5 years. A total of 193 male and 207 female respondents participated in the experiment.

Young consumers find virtual idols, online influencers and traditional celebrities attractive. Although virtual idols are the least credible among the three types of celebrity endorsers, young consumers tend to be more convinced by their endorsements of products with low levels of consumer involvement than those with high levels of involvement. Among the three types of celebrity endorsements, young consumers find traditional celebrities the most effective. In addition, young consumers’ attitudes toward celebrity endorsers mediate the impact of celebrity endorsers’ attractiveness and credibility on their attitudes toward the advertisements. The perceived level of product involvement moderates the transfer of meaning from the attitude toward the celebrity endorsers to the attitude toward the advertisement.

First, when choosing celebrity endorsers to advertise products targeting young consumers, marketing communication practitioners should give priority to the endorsers’ perceived credibility, as young consumers have a variety of views about them that can significantly affect their attitudes toward the advertisement. Second, real human celebrity endorsers are more effective than virtual idols in celebrity endorsements. However, virtual idols may be suited for use in advertisements to promote products with low involvement levels, such as soft drinks.

To the best of the authors’ knowledge, this is the first experimental study to attempt to analyze the effectiveness of virtual idols in advertising aimed at young consumers. This is also the first comparative study to introduce virtual idols as celebrity endorsers in product advertising and to compare their effectiveness with that of the two other types of commonly discussed celebrity endorsers, traditional celebrities and online influencers.

The purpose of this paper is to explore and disseminate knowledge about quantum-inspired computing technology's potential to solve complex challenges faced by the operational agility capability in Industry 4.0 manufacturing and logistics operations.

A multi-case study approach is used to determine the impact of quantum-inspired computing technology in manufacturing and logistics processes from the supplier perspective. A literature review provides the basis for a framework to identify a set of flexibility and agility operational capabilities enabled by Industry 4.0 Information and Digital Technologies. The use cases are analyzed in depth, first individually and then jointly.

Study results suggest that quantum-inspired computing technology has the potential to harness and boost companies' operational flexibility to enhance operational agility in manufacturing and logistics operations management, particularly in the Industry 4.0 context. An exploratory model is proposed to explain the relationships between quantum-inspired computing technology and the deployment of operational agility capabilities.

This is study explores the use of quantum-inspired computing technology in Industry 4.0 operations management and contributes to understanding its potential to enable operational agility capability in manufacturing and logistics operations.

Sizing system is a fundamental topic in garment fitting. The purpose of this study was to assess the fit of existing police uniforms (shirt, jacket, overcoat and trousers) and develop a sizing system for upper and lower body uniforms of Amhara policemen in Ethiopia.

In total, 35 body dimensions of 889 policemen were taken through a manual anthropometric survey following the procedures in ISO 8559:1989 after each subject was interviewed on issues related to garment fit. The anthropometric data were pre-processed, key body dimensions were identified by principal components analysis and body types were clustered by the agglomerative hierarchical clustering algorithm and verified by the XGBoost classifier in a Python programming environment. The developed size charts were validated statistically using aggregate loss and accommodation rate.

About 44% of the subjects encountered fit problems every time they own new readymade uniforms. Lengths and side seams of shirts, and lengths and waist girths of trousers are the most frequently altered garment sites. Analysis of the anthropometric measurements resulted in 13 and 15 sizes for the upper and lower bodies, respectively. Moreover, the comparison of the developed upper garment size chart with the existing size chart for a shirt showed a considerable difference. This indicates that inappropriate size charts create fit problems.

The study considers the analysis of fit problems and sizing system development in a less researched country. Moreover, the proposed data mining procedure and its application for size chart development is unique and workable.

Advances in technology have given rise to an increased demand by small businesses for personalised e-government services. Given the importance of small businesses to the Australian economy, it is vital to deliver small business-centric services that offer potential to generate value. To do that effectively, government departments need to understand factors that affect small business. The purpose of this study is to explore how preferences for personalised services and the use of intermediaries affect small business participation behaviour and, in turn, stimulate positive outcomes that are of interest to the government.

This study draws on secondary data from a survey of 800 Australian small businesses about the digital services offered by a large government department. Structural equation modelling was used to empirically test the model.

The findings demonstrate that whilst preference for personalisation has a positive relationship with participation behaviour, reliance on an intermediary does not. While such behaviour fosters emotional connection and perceptions of partner quality, the results of this study show no significant impact on satisfaction.

This study advances knowledge about how small businesses can gain value from personalised support services. Importantly, it focuses on participation behaviour and small business – both of which are largely absent from existing studies. The findings can assist government departments to design personalised services that are valued by small businesses.

Highly committed, motivated and engaged employees assure organizational success and competitiveness. The study aims to examine the association between human resource development (HRD) practices and employee engagement with organizational commitment as a mediating variable.

Data were collected from 760 employees of 13 star-rated hotels comprising 5 (five-star) and 8 (four-star). The data supported the hypothesized relationships. Structural equation modeling was used to evaluate the proposed model and hypotheses. Construct validity and reliability were established through confirmatory factor analysis.

The results indicate that HRD practices and affective commitment are significantly associated. HRD practices and continuance commitment were shown to be non-significantly associated. HRD practices and normative commitment were shown to be non-significantly associated. Employee engagement and organizational commitment are significantly associated. The results further show that organizational commitment mediates the association between HRD practices and employee engagement.

The generalizability of the findings will be constrained due to the research's hotel industry focus and cross sectional data.

The study's findings will serve as valuable pointers for stakeholders and policymakers of the hotel industry in the adoption, design and implementation of proactive HRD interventions to keep highly engaged and committed employees for organizational competitiveness and sustainability.

By evidencing empirically that organizational commitment mediates the nexus between HRD practices and employee engagement, the study extends the literature.

This study aims to construct alternative models to establish the dynamic relationship between exchange rates and housing affordability by estimating both the short- and long-run relationship between exchange rates and housing affordability for 18 OECD countries from 1975Q1 to 2022Q4. After that, this study demonstrates how this nexus behaves during high and low inflation regimes and turbulent times.

This study uses the panel autoregressive distributed lag technique to examine the nexus between housing affordability to capture the distinct characteristics of the sample countries and estimate various short- and long-run dynamics in the relationship between housing affordability and exchange rate.

Exchange rate appreciation improves housing affordability in the short run, whereas this connection tends to dissipate in the long run. Moreover, inflation can worsen housing affordability during turbulent times, such as the global financial crisis, in both the short and long run. Ignoring these changes in the relationship between exchange rates and housing affordability during turbulent times can lead to incorrect conclusions.

To the best of the authors’ knowledge, this study is the first to examine the association between exchange rates and housing affordability by demonstrating how these variables behave in high and low inflation regimes and turbulent times.

While the COVID-19 pandemic has impacted the construction industry, it is still unclear from prior studies about adequately positioning the quality assurance (QA) for the post-pandemic era and future pandemics, especially cross-border construction logistics and supply chain (Cb-CLSC). Thus, this study aims to develop a managerial framework to position the QA of Cb-CLSC during pandemics and post-pandemics by taking lessons from how COVID-19 has impacted the existing QA systems and has been managed successfully.

This is achieved pragmatically through an embedded mixed-method design involving a literature review, survey and interview from experts within the Hong Kong SAR–Mainland China links, typically known as the world’s factory. The design is further integrated with the partial least squares structural equation modelling (PLS-SEM) approach.

The study revealed 10 critical managerial practices (MPs) to position the QA to be adequate for the post-pandemic and during future pandemics, with the top three including “strict observance of government regulations (MP1)”, “planning ahead the period of quality assurance with the quarantine days in host countries (MP6)” and “modification of contract to cater for uncertainties (MP4)”. This attained a relatively good percentage agreement of 53% between the industry and academia. However, the top four MPs regarded as very effective include “implementing digital collaborative inspections with subcontractors and trades (MP8)”, “implementing a digital centralized document and issue management system (MP7)”, “strict observance to government regulations, including vaccination of workers, social distancing, use of prescribed nose masks, etc. (MP1)” and “planning ahead the period of quality assurance with the quarantine days in host countries (MP6)”. Two underlying components of the MPs were revealed as policy-process (PP)-related practices and people-technology-process (PTP)-related practices, and these can be modelled into a managerial framework capable of effectively positioning the QA to be adequate during pandemics through to the post-pandemic era.

The findings of this study depicted significant theoretical and practical contributions to the proactive management of QA activities during pandemics through to the post-pandemic era. It could empower organisations to pay attention to smartly and innovatively balancing people, processes, pandemic policy and technology to inform decisions to effectively position the QA for the post-pandemic era and survive the risks of future pandemics.

The study contributes to the body of knowledge in that it develops a managerial framework to position the QA of Cb-CLSC during pandemics and post-pandemics by taking lessons from how COVID-19 has impacted the existing QA systems and has been managed successfully. It is original research with invaluable primary data in the form of surveys and interviews from experts within the Hong Kong SAR–Mainland China links, typically known as the world’s factory.