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Entering a new era of digital transformation, Industry 4.0 (I 4.0) promises to revolutionize the way business has been done, providing unprecedented opportunities and challenges. This study aims to investigate empirically and comparatively analyse the benefits, challenges and critical success factors (CSFs) of Industry 4.0 across four continents and developing and developed economies.

This study used an online survey to explore the benefits, challenges and CSFs of developed and developing economies. In order to ensure the validity of the survey, a pilot test was conducted with 10 respondents. A total of 149 participants with senior managerial, vice-presidential and directorial positions from developed and developing economies spanning four continents were invited to take part in the survey.

The study ranks benefits, challenges and CSFs across economies and continents. Further, the benefit of Industry 4.0 helping to achieve organizational efficiency and agility differed across the developing and developed economies. Furthermore, the benefit improves customer satisfaction significantly differed across continents; in terms of challenges, Employee resistance to change had a higher proportion in developing economies. The future viability of I 4.0 also differed across the continents. Regarding CSFs, there was no difference across the developing and developed economies. Finally, change management and project management vary across the continents.

This study contributes to a balanced understanding of I 4.0 by providing empirical evidence for comparative analysis. Moreover, it extends the concept of resource dependence theory to explain how organizations in developing economies and developed economies deploy resources to manage external condition uncertainties to implement I 4.0. Furthermore, this study provides a structural framework to understand the specific benefits, challenges and CSFs of implementing I 4.0, which can be utilized by policymakers to promote I 4.0 in their economies or continents.

To the best of the authors’ knowledge, no studies have empirically demonstrated the comparative analysis of benefits, challenges and CSFs across economies and continents and distinguish an original contribution of this work.

This research aims to compare website-based investor relations (WIR) in developed and developing economies, represented by the US, UK, Hong Kong and mainland China.

A WIR level evaluation index consisting of 82 items was constructed, based on website content analysis. Item discrepancies caused by local contexts were considered in order to make the items applicable to all economies. Data were collected from the websites of companies listed in the Dow Jones Industry Average, the biggest 30 companies on the FTSE100, Hang Seng Index and China CNINFO40. The WIR levels of developed and developing economies were evaluated and compared under the index system. T-tests of differences between means were used to evaluate significance.

Listed companies' WIR levels were very similar between Hong Kong and mainland China as well as between the US and UK, but companies listed in the US and UK have a much higher level of WIR. The differences of WIR between developed and developing economies were very significant. Developed economies' WIR show many advanced features such as using real-time and being more complete, convenient, user-friendly, accurate and fair.

As a comparative study of WIR between developed and developing economies, the study is among the first in this field, especially in including mainland China.

This study aims to investigate the effects of institutional qualities on corporate social responsibility (CSR) engagement from a global perspective.

The authors examine CSR engagement across 83 developed and developing economies focusing on four potential institutional drivers: the rule of law, economic financial development, human capital formation and exposure to international trade.

The authors find that the level of human capital formation and financial development is positively associated with CSR engagement in both developing and developed economies. However, the rule of law was only associated with CSR engagement in developing economies whereas the level of international trade was found having no association with CSR engagement across both developed economies and developing economies.

The effect of macroinstitutional qualities on aggregate CSR engagement practices across 83 developed and developing economies was examined; however, the analysis did not attempt to identify the relevance of these institutional factors at the micro or mezzo level and how they interplay with firm-level factors.

The empirical findings in this study offer some important insights into the theoretical constructs of institutional qualities and institutional logics that impact CSR engagement from both developing and developed economy contexts. Not only will these findings encourage regulators and stakeholders to call for enhanced CSR engagement, it will also benefit the accounting and assurance profession’s efforts to evaluate organizational risk and mitigate corporate opportunistic use of CSR disclosure. The finding that strengthening a country’s rule of law enhances CSR engagement in developing economies is further evidence for the current debate in the accounting literature regarding mandating firm CSR disclosure.

The authors conclude that improving the level of human capital formation and encouraging financial development is important for the overall social well-being of all economies, whereas developing economies can further encourage CSR engagement by enhancing their rule of law.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Drawing on transaction cost economics (TCE) and social exchange theory (SET), the purpose of this paper is to explain why and how external environment, governance structures and interpersonal relationships influence information and communication technology (ICT)-enabled information sharing in supply chains (SCs) of small- and medium-sized enterprises (SMEs) from developing economies.

The authors adopt a theory-building approach using a multiple case study design, including four SMEs operating in SCs from two developing economies (i.e. Republic of North Macedonia and People’s Republic of China), in which the authors conduct both within-case and cross-case analyses.

Social bonds (known as vrski in Macedonian and guanxi in Chinese) were found to govern buyer–supplier exchanges by supporting the establishment of personal trust and the reduction of distrust. These social bonds compensate for the institutional deficiencies in developing economies and thus encourage ICT-enabled information sharing by SMEs in their SCs.

By applying the theoretical perspectives of TCE and SET to the cross-case analysis, the authors develop nine propositions to explain ICT-enabled information sharing and its interdependencies with external environment, governance structures and interpersonal relationships in developing economies. Further research is recommended to refine and test the generalizability of the theoretical model.

Firms have to develop and nurture social bonds with their suppliers from developing economies to reduce risks related to the environmental uncertainty and institutional voids. This can increase trust and decrease distrust associated with ICT-enabled information sharing.

The study examines why and how external environment (environmental uncertainty and institutional environment), social bonds (vrski and guanxi) and interpersonal mechanisms (trust and distrust) influence ICT-enabled information sharing of SMEs operating in developing economies.

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the extent of existing restriction in foreign exchange and financial markets, by the presence or absence of persistent high inflation, and by the existence or non‐existence of an active international market in the country's currency. Eighteen observations and maxims on stabilisation policy are tentatively drawn (pp. 64–8) from the material reviewed, and the maxims are partly summarised (pp. 69–71) in a schematic assignment, with variations, of targets to instruments.

This chapter introduces this book’s topics, purpose, and key themes. It summarizes the main objective of this book which is to examine the trends in corporate social responsibility (CSR) and sustainability in developing and emerging economies.

This chapter reviews the extant literature and chapters and offers conceptual development.

Discussion on CSR and sustainability concepts is growing in developing countries, and many stakeholders including businesses, governments, and universities are working toward achieving sustainability. In addition, it is well documented that multinational enterprises (MNEs) operating in developing economies contribute significantly to job creation, growth and development, and poverty alleviation. However, when compared to developed countries there is a general perception that companies, in particular MNEs, do not pay much attention to CSR and sustainability issues. The lack of sophisticated institutional developments and capability in many developing economies compound the situation. Thus, business CSR and sustainability practices play a major role in improving stakeholder relationships.

This chapter suggests that in order for developing and emerging economies to move forward and achieve the gains from globalization; businesses, governments, and other stakeholders should work together to benefit from the various initiatives on CSR and sustainability jointly put together for the betterment of the citizens and a prosperous economy.

This chapter contributes to the debate on trends in CSR and sustainability in developing/emerging economies by critically examines what the notions really mean in developing and emerging economies. It emphasizes that CSR and sustainability mean contributing to the well-being of citizens and respond positively to various stakeholder demands by improving the host countries and communities through participation in economic progress, social well-being, improvement in environmental practices, and involvement in citizens’ empowerment and institutional building.

This paper examines the human resource (HR) strategies and practices that are considered to be particularly beneficial for aging employees in organizations in Thailand, which is an underresearched developing economy, from an employee perspective and the implications of national institutions and cultures for the adoption and implementation of those HR strategies and practices across organizations.

The results of the study, based on a cross-case analysis of seven organizations across industries, are primarily drawn from structured interviews and focus groups with aging employees, field visits and a review of archival documents and web-based resources, including newspaper reports and magazines.

This paper proposes that HR strategies that are appropriate for managing aging employees in organizations in Thailand’s developing economy can be classified into four bundles: growth, maintenance, recovery and regulation. Each bundle of HR strategies consists of several HR practices that are appropriate for managing aging employees in organizations. In particular, from the perspective of aging employees, these HR practices help aging employees upgrade their skills, prepare them to have a sufficient amount of financial savings after retirement, ensure that they are safe, secure and healthy, help them feel that their tacit knowledge and experience are still valuable, and help them perform jobs that are appropriate for their physical health conditions. Additionally, the adoption and implementation of the proposed HR strategies and practices tend to be influenced by national institutions in terms of deficiencies in the national skill formation system, healthcare institutions, regulatory institutions and welfare state regime and by the national culture in terms of reciprocity and respect for elderly people (i.e. aging employees). However, there are five important HR practices that are specifically appropriate for managing aging employees in Thailand and other developing economies where the level of household debt and/or personal debt is high, where the increasing number of aging employees leads to high demand for medical services when the medical services offered by private hospitals are expensive, and where tacit knowledge and experience are important for creating and maintaining firms’ competitive advantage: (1) the facilitation of financial planning, (2) safety and health training, (3) annual health check-ups, (4) the appointment of aging employees as advisors/mentors and (5) knowledge transfer/job enrichment.

One of the limitations of this research is its methodology. Because this research is based on case studies of seven firms located in Thailand, the findings may not be generalizable to all other firms across countries. Rather, the aim of this paper is to further the discussion regarding HR strategies and practices for managing aging employees in organizations. Another limitation of this research is that it does not include firms located in several other industries, including the agricultural and fishery industry and the financial services industry. Future research may explore HR strategies and practices for managing aging employees in organizations located in these industries. Moreover, quantitative studies using large samples of aging employees who work in firms across industries might also be useful in deepening the understanding of HR strategies and practices for managing aging/retired employees in organizations.

This paper provides practical implications for top managers and/or HR managers of firms in Thailand and other developing economies where the level of household debt and/or personal debt is high, where the increasing number of aging employees leads to high demand for medical services when the medical services offered by private hospitals are expensive, and where tacit knowledge and experience are important for creating and maintaining firms’ competitive advantage. In particular, the aging employees in this study identified the HR practices that they perceive as being appropriate for aging employees and that were already available in firms or that they expect their firms to have but are currently missing. In this regard, HR managers should take note of these good and appropriate HR practices to ensure that they become part of official, structured HR strategies and practices. This would ultimately help line managers and aging employees think more positively about the future of aging employees within the company and help retain invaluable aging employees over time.

This paper provides social/policy implications for the government and/or relevant public agencies of Thailand and several other developing economies where the majority of aging people do not have sufficient savings to support themselves after retirement, especially when these countries are becoming aging societies, where the increasing demand for medical services cannot be adequately addressed by existing public hospitals while private hospitals’ medical prices are quite expensive, and where intellectual property right (IPR) protection laws are weak. That said, such governments should encourage firms located in their countries to implement these HR strategies and practices for developing, maintaining, deploying and supporting aging employees.

This paper aims to contribute to the literature on human resource management (HRM), specifically on HR practices for aging employees, in the following ways. First, this study is different from the previous studies in that it examines HR practices for managing aging employees from an employee perspective, while most of the previous studies in this area have focused on the management of such employees from an employer perspective. In this case, it is possible that formal company policies may be different from actual HR practices as perceived by aging employees (Khilji and Wang, 2006). Second, this paper explores the implications of national institutions and cultures of Thailand’s developing economy for the adoption and implementation of HR strategies and practices that are appropriate for managing aging employees in organizations. Finally, this paper examines HR practices that are specifically appropriate for managing aging employees in Thailand and other developing economies. The literature on HR practices for aging employees has overlooked developing economies, including the underresearched country of Thailand, as most of the studies in this area have focused on developed economies. In fact, developed economies and developing economies are very different in several respects, which may influence the HR strategies and practices that are appropriate for managing aging employees in organizations.

Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have significant effects on these entrepreneurial activities. This research examines which institutional and macroeconomic variables explain early-stage entrepreneurship activities in developed and developing economies.

The authors conducted panel data analysis on the data from the Global Entrepreneurship Monitor (GEM) and International Monetary Fund (IMF) surveys covering the years 2009–2018.

First, the authors' results reveal that cognitive, normative and regulatory institutions and macroeconomic factors affect early-stage entrepreneurial activity in developed and developing countries differently. Second, the authors' findings indicate that cognitive, normative and regulatory institutions affect early-stage entrepreneurship more positively in developed than developing countries. Finally, the authors' results report that macroeconomic factors are more effective in early-stage entrepreneurial activity in developing countries than in developed countries.

This study provides a better understanding of the components that help explain the differences in entrepreneurship between developed and developing countries regarding institutions and macroeconomic factors. In this way, it contributes to developing entrepreneurship literature with the theoretical achievements of combining institutional theory and macroeconomic indicators with entrepreneurship literature.

The purpose of this paper is to establish the moderating effect of financial literacy in the relationship between access to finance and growth of small and medium enterprises (SMEs) in developing economies. Thus, this study seeks to establish whether financial literacy moderates the relationship between access to finance and growth of SMEs in a developing economy like Uganda.

Cross-sectional research design was used in the study and data were collected from 169 SMEs located in Jinja and Iganga central markets. ModGraph (excel programme) was used to test for the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies.

The findings reveal a positive and significant moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. In addition, financial literacy and access to finance also have significant and positive effects on growth of SMEs in developing economies.

The study collected data from only SMEs located in Uganda, and there is an opportunity to test this finding in other developing economies. Furthermore, the findings from the study are based on quantitative data collected through use of semi-structured questionnaires. Besides, the study was purely cross-sectional; hence, it ignores the characteristics of SMEs, which could be investigated using a longitudinal study design.

The study highlights the importance of financial literacy in promoting access to finance, which is necessary for the growth of SMEs in developing economies. Owners of SMEs could attend financial literacy programmes provided by entrepreneurial skill development organizations to enable them to acquire financial knowledge and skills to make wise and better financial decisions and choices.

The study contributes to existing international entrepreneurship literature by indicating the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. The study shows that for SMEs to access finance to grow there is a need for financial literacy that promotes effective and efficient use of loans/credits. SMEs in developing economies need financial literacy, which helps them make wise financial decisions and choices before accessing financial services like loans.