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Asset pricing literature is facing a credibility crisis, given debates associated with publication biases, data mining, replicability, crowding and lack of theoretic foundations. This study proposes that emerging markets (EMs), with their specific socioeconomic characteristics and lesser financial integration with developed markets (DMs), might provide useful arguments to the debate and improve our understanding of asset pricing. Beyond out-of-sample evidence for DM findings, EM research can unveil regional-specific factors overlooked by mainstream literature and investigating reasons behind differences can reveal epistemological elements for proposing and testing theories, and clarifying causal mechanisms.

The present work conducts an EM-focused systematic review, by applying the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol, a transparent and replicable procedure, to gather a representative collection of papers and using bibliometric methods to analyze bibliographic data.

Besides summarizing and contextualizing scientific production, revealing most important themes and actors, we confirm a clear bias toward DM and identify low scientific collaboration among EM. Additionally, we assess to which extent current studies fulfills EM research potential.

There is a home bias in literature, with most studies focusing on DM. This systematic review is exclusive to EM literature and suggests how EM research can improve literature credibility.

The purpose of this study is to empirically investigate the role of dynamic capabilities, specifically the sequence of sensing, seizing, and transforming capabilities, in highly uncertain, emerging technology environments. Focusing on the extended reality industry, the study aims to understand the antecedents to these dynamic capabilities, their sequential nature, and their subsequent impact on innovation and company performance.

Based on a survey of 130 German companies in the extended reality sector, we built a structural equation model that explores the relationship between dynamic capabilities, their antecedents, and their effect on innovation and company performance.

The analysis suggests that sensing capabilities positively influence seizing and transforming capabilities, while seizing directly contributes to transforming. Transforming capabilities are linked to improved innovation performance, which in turn boosts company performance. Organizational ambidexterity, market orientation, and technology orientation are found to be crucial antecedents, accounting for 33.1% of the variance in sensing capabilities.

This research illuminates the interdependence of dynamic capabilities in highly uncertain business environments, such as emerging technology markets. It contributes original insights by elucidating the sequential nature of dynamic capabilities and identifying their vital antecedents. It also enlarges the understanding of how dynamic capabilities impact firms’ innovation performance.