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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.

This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

The study utilized annual data from 432 nonfinancial firms publicly listed in six Asian countries: China, Hong Kong, Japan, Singapore, Pakistan and India. The observation period covers 14 years, from 2007 to 2020. The sample was categorized into three groups: the entire sample and one group each for developing and developed Asian economies. A generalized least squares panel regression method was employed to test the research hypotheses.

The results suggest that long-term debt has a significant negative influence on SPCR in Asian economies, indicating that firms with high long-term debt experience lower future SPCR. Moreover, firm age negatively moderates this relationship, implying that older firms may experience a more pronounced reduction in SPCR due to high long-term debt. Finally, firms in developed Asian economies with high long-term debt are more effective in mitigating the risk of a significant drop in their stock prices than firms in developing Asian economies.

This study contributes to the literature in several ways. To the best of the researcher’s knowledge, this is the first of such efforts to investigate the relationship between debt maturity structure and crash risk in Asia. Additionally, it reveals that long-term debt influences SPCR directly and indirectly in Asia through the moderating role of firm age. Lastly, it is likely one of the first studies by a research team in Asia to compare the nonfinancial markets of developed and developing Asian countries.

Various publications have extensively documented the advantages of a circular economy in ensuring sustainability and limiting climate change. Despite academic records emphasising the need to adopt this business strategy, entrepreneurs in developing countries prefer linear economies. This reluctance is attributable to several factors, including insufficient infrastructure and technology, limited financial access, inadequate education systems and the prevalence of informal enterprises. Therefore, a thorough analysis of the underlying economic, political and social conditions is required to identify the drivers of circular economies (CEs) and their contribution to entrepreneurship in developing countries.

In this study, the authors first conducted a comprehensive quantitative literature review based on LangChain to identify the critical CE drivers from the social, technological and organisational perspectives. Based on the input from the expert panel of Iranian academic and industry professionals, the authors applied an integrated fuzzy interpretive structural modelling and cross-impact matrix multiplication approach to classification (Fuzzy-ISM-MICMAC) to investigate the chronology of entrepreneurial drivers.

Level-based model results reveal entrepreneurial drivers in developing nations and their interrelationships, specifically underlining the importance of supply chain factors and stakeholder preferences. Thus, the differences between the perception of the main drivers in developed and developing economies can be identified, with the former paying particular attention to legislative and financial factors. The study's findings contribute to conserving resources, reducing waste and adopting more sustainable corporate practices, thereby assisting developing countries in achieving development goals.

This study employs an innovative quantitative systematic literature review approach that relies on a large language model to identify the drivers of the CE. Furthermore, it adopts a systematic approach to examine the enablers of the CE rather than a narrow and individual perspective of the entrepreneurial drivers. The study employs the fuzzy ISM MICMAC technique to showcase the prioritisation of entrepreneurial prospects in emerging economies.

The study aims to identify the extent to which industry 4.0 (IR4.0) adoption impacts the sustainable manufacturing (SM) performance of the manufacturing industry, focusing on the comparative analysis between developed and developing economies amid coronavirus disease 2019 (COVID-19) pandemic.

The study proposes a conceptual model formed on seminal theories and literature using the cross-sectional design. For data collection, a purposive sampling method is used where 154 Malaysian (developing) and Australian (developed) manufacturing firms' data were collected. Partial least square-based structural equation modeling is employed to test the hypothesis and proposed research model.

This study finds that adoption of IR4.0 technologies does not directly influence the sustainability performance of the manufacturing industry, but rather the trajectories of SM (efficiency, flexibility, automation and big data and granularity) fully mediate the relationship between IR4.0 adoption and sustainability manufacturing performance. The comparative analysis between Australia and Malaysia shows no significant difference in the relationships or the framework; hence, the differences between developed and developing countries are not significant in this mechanism.

The study contributes to the insights of the managers regarding COVID-19 and the implementation of IR4.0 in the SM domain. The policymakers would further get better insights since the study pays attention to sustainable development goal, industry, innovation, infrastructure and responsible production.

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

This study used yearly data from 432 nonfinancial companies publicly listed firms in six countries (i.e., China, India, Pakistan, Hong Kong, Japan and Singapore) from 2007 to 2020 to investigate the relationship between investor protection and the risk of stock price crashes. The hypothesis was tested using a generalized least square panel regression.

The results suggest that investor protection significantly affects SPCR in Asian economies. Furthermore, the findings show that the stocks of firms whose investors received the best protection were less prone to crash in developed Asian economies. However, in developing Asian economies, the stocks of firms whose investors received the best protection were more prone to crashes.

It provides awareness and understanding of how the level of investor protection affects SPCR, which could be useful for decision-makers and professionals across a spectrum of financial and non-financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This knowledge enables informed decision-making and the formulation of effective policies to manage stock market volatility.

This study appears to be the first of its kind to focus on the link between investor protection and SPCR within the specific context of developed and developing Asian economies.

Energy poverty is a global phenomenon, but its prevalence is enormous in most African countries, with a potential impact on quality of life. This study aims to investigate the impact of energy poverty on the shadow economy.

The study uses panel data from 45 countries in Africa over a period of 1996–2018. Using panel cointegrating regression and panel vector auto-regression model in the generalized method of moments technique.

This study provides that energy poverty deepens the size of the shadow economy in Africa. It also documents that there is a bidirectional causality between shadow economy and energy poverty. Therefore, the two variables can predict each other.

The study suggests that lack of access to clean and modern energy services contributes to the depth of the shadow economy in Africa. African authorities are advised to strengthen rural and urban electrification initiatives by providing adequate energy infrastructure so as to reduce the level of energy poverty in the region. To ensure energy sustainability delivery, the study proposes that the creation of national and local capacities would be the most effective manner to guarantee energy accessibility and affordability. Also, priorities should be given to the local capital mobilization and energy subsidies for the energy poor. Energy literacy may also contribute to the sustainability and the usage of modern energy sources in Africa.

Previous studies reveal that income inequality contributes to the large size of shadow economy in developing economies. However, none of these studies analyzed the role of energy poverty and its implications for underground economic operations. Inadequate access to modern energy sources is likely to deepen the prevalence of informality in developing nations. Based on this, this study provides fresh evidence on the implications of energy deprivation on the shadow economy in Africa using a heterogeneous panel econometric framework. The study contributes to the literature by advocating that the provision of affordable modern energy sources for rural and urban settlements, and the creation of good energy infrastructure for the firms in the formal economy would not only improve the quality of life but also important to discourage underground economic operations in developing economies.

The purpose of this paper is to argue for the development of a vibrant domestic tourism sector in emerging economies as a means of moving towards a more sustainable tourism sector and achieving many of the goals outlined in the UNWTO’s 2030 Agenda for Sustainable Development.

It uses a perspective approach through a critical state-of-the-art review of selected domestic and international tourism studies.

This paper illustrates how developing such a sector will provide a range of economic and social benefits to emerging economies and their residents, as well as lowering the per-capita tourism carbon footprint of destination areas.

This study identifies policy initiatives that can be developed to help emerging economies transition from an international tourism focus to a more balanced focus.

This study indicates the social benefits of developing a domestic tourism sector in emerging economies.

It equips national tourism organisations and small and medium tourism enterprises with specific actions for the use of tourism as a prosperity tool in the pursuance of these benefits. It, further, calls for a research agenda on investigating how emerging economies are uniquely progressing towards this global goal through thriving domestic tourism recognising that each economy is culturally different.

本文主张在新兴经济体发展充满活力的国内旅游业, 以此作为迈向更可持续的旅游业和实现联合国世界旅游组织《2030 年可持续发展议程》中概述的许多目标的手段。

通过对选定的国内和国际旅游研究进行批判性的最新文献回顾, 采用了前瞻性的方法。

本文阐述了发展这样一个产业将如何为新兴经济体及其居民提供一系列经济和社会效益, 并降低目的地的人均旅游碳足迹。

确定可以制定的政策举措, 以帮助新兴经济体从国际旅游业向更平衡的旅游业转型

展现了新兴经济体发展国内旅游业的社会效益。

为国家旅游组织和中小型旅游企业提供了将旅游业作为繁荣工具以实现上文提到的这些利益的具体方向。此外, 论文还呼吁制定一项研究议程, 调查新兴经济体如何通过繁荣的国内旅游业独特地朝着这一全球目标前进, 也需要认识到每个经济体的文化都不同。

Este trabajo defiende el desarrollo de un sector turístico interno fuerte en las economías emergentes como medio para avanzar hacia un sector turístico más sostenible y alcanzar muchos de los objetivos esbozados en la Agenda 2030 para el Desarrollo Sostenible de la OMT.

Adopta un enfoque de perspectiva a través de una revisión crítica del estado del arte de estudios turísticos nacionales e internacionales seleccionados.

El trabajo ilustra cómo el desarrollo de este sector aportará una serie de beneficios económicos y sociales a las economías emergentes y a sus residentes, así como la reducción de la huella de carbono per cápita del turismo en las zonas de destino.

Identifica las iniciativas políticas que pueden desarrollarse para ayudar a las economías emergentes en la transición de un enfoque turístico internacional a un enfoque más equilibrado.

Se indican los beneficios sociales de un desarrollo del sector turístico interno en las economías emergentes.

Proporciona a las organizaciones nacionales de turismo y a las pequeñas y medianas empresas turísticas acciones específicas para el uso del turismo como herramienta de bienestar en la consecución de estos beneficios. Además, propone un programa de investigación sobre el modo en que las economías emergentes avanzan hacia este objetivo global a través de un turismo interno floreciente, teniendo en cuenta que cada economía es culturalmente diferente.

This study aims to examine the relationship between financial development (FD), financial risk, green finance and innovation related to carbon emissions in the G7 economies.

This quantitative study examines the roles that financial development [FD: Domestic credit to private sector by banks as percentage of gross domestic product (GDP)], economic growth (GDP: Constant US$ 2015), financial risk index (FRI), green finance (GFIN: Renewable energy public research development and demonstration (RD&D) budget as percentage of total RD&D budget), development of environment-related technologies (DERTI: percentage of all technologies) and human capital (HCI: index) have on the environmental quality of developed economies. Based on panel data, the study uses a novel approach method of moments quantile regression as a main method to tackle the issue of cross-sectional dependency, slope heterogeneity and nonnormality of the data.

The study confirms that increasing economic development increases emissions and negatively impacts the environment. However, efficient resource allocation, improved financial systems, and green innovation are likely to contribute to emission mitigation and the overall development of a sustainable viable economy. Furthermore, the study highlights the importance of risk management in financial systems for future emissions prevention.

The study uses a reliable estimation procedure, which extends the discussion on climate policy from a COP-27 perspective and offers practical implications for policymakers in developing more effective emission mitigation strategies.

The study offers policy suggestions for a sustainable economy, focusing on both COP-27 and the G7 countries. Recommendations include implementing carbon pricing, developing carbon capture and storage technologies, investing in renewables and energy efficiency and introducing financial instruments for emission mitigation. From a COP-27 standpoint, the G7 should prioritize transitioning to low-carbon economies and supporting developing nations in their sustainability efforts to address the pressing challenges of climate change and global warming.

In comparison to the literature, this study examines the importance of financial risk for G7 economies in promoting a sustainable environment. More specifically, in the context of FD and national income with carbon emissions, previous researchers have disregarded the importance of green innovation and human capital, so the current study fills the gap in the literature related to G7 economies by exploring the link between the identified variables related to carbon emissions.

This study aims to examine the effect of foreign direct investment (FDI) inflows on tax revenue in 34 developed and developing countries from 2006 to 2020.

Feasible generalised least squares (FGLS), a dynamic panel of a two-step system generalised method of moments (GMM) system and a pool mean group (PMG) panel autoregressive distributed lag (ARDL) approach were used to compare the developed and developing countries. Basic estimators were used as pre-estimators and diagnostic tests were used to increase robustness.

The FGLS, a two-step system of GMM, PMG–ARDL estimator’s results showed that there was a significant negative long and positive short-term in most countries relationship between FDI inflows and tax revenue in developed countries. This study concluded that attracting investments can improve the quality of institutions despite high tax rates, leading to low tax revenue. Meanwhile, there was a significant positive long and negative short-term relationship between FDI inflows and tax revenue in the developing countries. The developing countries sought to attract FDI that could be used to create job opportunities and transfer technology to simultaneously develop infrastructure and impose a tax policy that would achieve high tax revenue.

The present study sheds light on the effect of FDI on tax revenue and compares developed and developing countries through the design and implementation of policies to create jobs, transfer technology and attain economic growth in order to assure foreign investors that they would gain continuous high profits from their investments.

This paper aims to explore the implications of algorithmic management on careers and employment relationships in the Nigerian gig economy. Specifically, drawing on labour process theory (LPT), this study provides an understanding of the production relations beyond the “traditional standard” to “nonstandard” forms of employment in a gig economy mediated by digital platforms or digital forms of work, especially on ride-hailing platforms (Uber and Bolt).

This study adopted the interpretive qualitative approach and a semi-structured interview of 49 participants, including 46 platform drivers and 3 platform managers from Uber and Bolt.

This study addresses the theoretical underpinnings of the LPT as it relates to algorithmic management and control in the digital platform economy. The study revealed that, despite the ultra-precarious working conditions and persistent uncertainty in employment relations under algorithmic management, the underlying key factors that motivate workers to engage in digital platform work include higher job flexibility and autonomy, as well as having a source of income. This study captured the human-digital interface and labour processes related to digital platform work in Nigeria. Findings of this study also revealed that algorithmic management enables a transactional exchange between platform providers and drivers, while relational exchanges occur between drivers and customers/passengers. Finally, this study highlighted the perceived impact of algorithmic management on the attitude and performance of workers.

The research presents an interesting case study to investigate the influence of algorithmic management and labour processes on employment relationships in the largest emerging economy in Africa.