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This study aims to examine the impact of the regulatory focus of the top management team (TMT) members on the technological diversification of firms in high-technology industries based on the upper echelons theory and regulatory focus theory and explore the moderating effect of environmental uncertainty.

This paper uses data on the Chinese Growth Enterprises Market Board (GEM)-listed companies from 2012 to 2016. The authors collected data on TMT regulatory focus from firms’ annual reports by Python programming. A fixed-effects model was used to test our hypotheses.

Results indicate that TMTs with a high promotion focus are associated with greater technological diversification, while TMTs with a high prevention focus are linked to lower technological diversification. Moreover, environmental uncertainty amplifies the positive relationship between promotion-focused TMTs and technological diversification, while it diminishes the negative relationship between prevention-focused TMTs and technological diversification.

This study is limited to high-technology firms listed on the Chinese GEM, which may restrict the generalizability of the findings. Future research could validate these results in different countries and industries to enhance their robustness. Additionally, this study focuses on the impact of TMT regulatory focus on technological diversification; future studies could explore its influence on other strategic decisions, such as digital transformation or innovation strategies.

The results suggest that firms should carefully consider the regulatory focus of their TMT when making strategic decisions regarding technological diversification. Boards of directors should ensure that the TMT’s regulatory focus aligns with the firm’s strategic objectives, particularly in high-technology industries. Moreover, firms should adapt their strategies to the level of environmental uncertainty to better navigate the risks and opportunities presented by a dynamic market environment.

Supportive evidence allows authors to discuss how our findings contribute to the upper echelons theory, as well as the emerging stream of firm technological diversification, which provided valuable psychological insights into the factors influencing TMT strategic decision-making. Meanwhile, this paper integrates the factors of the industry macro-environment to explore the changes in the TMT regulatory focus on firm technological diversification under different contexts.

The aim of this paper is to determine whether the efficiency of banks’ human capital (HC) has moderating effects on the relationship between asset diversification and bank performance over the 2008–2020 period.

Our study considers generalized least squares estimation in fixed effects panel.

Results show that banks with higher levels of HC and higher degree of diversification reduce bank profitability and efficiency. The results also depict that the financial stability-reducing effects of Income diversification decrease as bank HC efficiency increases. At the same time, the effects of income and asset diversity on financial stability change depending on the performance aspect.

Previous research on banks’ performance is concentrated on asset diversification. This article broadens to the HC, Asset diversification and the moderating effects of the profitability, stability and efficiency of French Banks.

There is a widely held belief that open government data (OGD) have the potential to generate both economic and social value. This study aims to empirically unpack the relationship between OGD, diversification activities and innovation in the pursuit of economic value creation by firms.

Using a matched sample comparison method and difference-in-differences analyses, the authors study the impact of OGD on innovation over time in the USA. The authors considered the open government directive in the end of 2009 in the USA as a policy intervention and collected 10 years of financial data of 79 firms that use OGD and 79 matched control firms in the USA. The authors compare US firms using OGD, with matched control firms, regarding the firms’ level of product diversification as a measure of innovative use of OGD.

The authors provide empirical evidence that OGD policy contributes toward innovation, and hence economic value creation, through product diversification. Firms that leverage OGD show superior product diversification in comparison to the matching control firms. The results suggest that OGD contribute to firms’ innovation and pursuit of economic value, as evidenced by their increased product diversification.

Although the extant literature concerning OGD has underscored the impact of OGD on innovation and economic value generation, there is a lack of empirical evidence in the literature. This study seeks to add to the extant literature by providing empirical evidence that contributes to the understanding of the relationship between OGD, diversification and innovation in the pursuit of economic value creation.

Internationalisation is a complex and uncertain process for small and medium-sized enterprises (SMEs), characterised by challenges such as limited resources, lack of international experience and uncertainty in foreign markets. This study aims to explore the impact of entrepreneurial effectuation on the diversification of products and market expansion. Additionally, it examines the mediating role of alliance capabilities in this relationship.

This study developed five hypotheses based on an extensive and relevant literature review. Data were collected using nonprobability judgemental and snowball sampling techniques from 202 software exporting firms in Bangladesh to measure the relationship. Data collected from the survey were then analysed using partial least squares-structural equation modelling.

The results of this study show that all five hypotheses developed in this study are supported. This study found a positive impact of entrepreneurial effectuation on product and market diversification. Study results also show that alliance capabilities mediate the relationship between entrepreneurial effectuation and product and market diversification.

In the face of internationalisation uncertainties, SMEs use effectual decision-making logic and form strategic alliances to enhance their competitive positions. This research contributes to understanding how SMEs use effectuation in navigating international markets and expanding their product portfolios and market reach.

This study pioneers a mediation approach to explore the relationship between entrepreneurial effectuation, alliance capabilities and diversification in SME internationalisation. Examining the interplay of decision-making logic and collaborative ventures, this study offers insights into the complexities of SME internationalisation in uncertain environments.

The current study immerses itself in the realm of diversification prospects within a select group of preeminent global stock exchanges. Specifically, the study casts its discerning gaze upon the financial hubs of the United States, Hong Kong, Germany, France, Amsterdam and India. In this expansive vista of international financial markets, the present analytical study aims to unravel the multifaceted opportunities that lie therein for astute portfolio management and strategic investment decisions.

The study encompasses daily time series data spanning from 2019 to 2022. To assess the interconnectedness among these stock indices, advanced statistical techniques, including Johansen cointegration methods and vector autoregressive (VAR) models, have been applied.

The research outcomes reveal both unidirectional and bidirectional relationships between the Indian, Hong Kong and US stock exchanges, encompassing both short-term and long-term time frames. Interestingly, the empirical findings indicate the presence of diversification opportunities between the Indian stock exchange and the stock exchanges of Germany, France and Amsterdam.

These insights hold significant value for both Indian and international investors, including foreign institutional investors (FIIs), domestic institutional investors (DIIs) and retail investors, as they can utilize this knowledge to construct more effective and diversified investment portfolios by understanding the intricate interconnections between these prominent global stock exchanges.

This research undertaking aspires to bring coherence to a landscape rife with divergent interpretations and methodological divergences. We are poised to offer a comprehensive analysis, a beacon of clarity amidst the murkiness, to shed light on the intricate web of interconnections that underpin the world's stock exchanges. In so doing, we seek to contribute a seminal piece of scholarship that transcends the existing ambiguities and thus empowers the field with a deeper understanding of the multifaceted dynamics governing international stock markets.

Passive investing has established itself as the dominant force in the world of professionally managed assets, surpassing the concept of index funds. Its meteoric rise is fueled by investors’ preference for its dual benefits of strong diversification and low cost. A comprehensive study of the economic model, addressed areas and market structure has not yet been conducted, despite the existence of numerous studies on more specific topics. To address this gap, this paper examines 943 articles on passive investing published between 1998 and 2022 in SCOPUS and Web of Science.

The study utilizes the most pertinent tools for conducting a systematic review by the PRISMA framework. This article is the result of SLR and extensive bibliometric analysis. Contextualized systematic literature review is used to screen and select bibliographic data, which is then subjected to a variety of bibliometric analyses. The study provides a bibliometric overview of works on passive investment research that are indexed in Scopus and Web of Science. Bibliometrix, VoS Viewer and Cite Space are the tools used to conduct content and network analysis, to ascertain the present state of research, as well as its focus and direction.

Our exhaustive analysis yields important findings. One, the previous decade has witnessed a substantial increase in the number of publications and citations; in particular, the inter-disciplinary and international scope of related research has expanded; Second, the top three clusters on “active versus passive funds,” “price discovery and market structures” and “exchange-traded funds (ETFs) as an alternative” account for more than fifty percent of the domain’s knowledge; Third, “Leveraged ETFs (LETFs)” and “environmental, social and governance (ESG)” are the two emerging themes in the passive investing research. Fourth, despite its many benefits, passive investing is not suitable for everyone. To get the most out of what passive investing has to offer, investors, intermediaries and regulators must all exercise sufficient caution. Our study makes a substantial contribution to the field by conducting a comprehensive bibliometric analysis of the existing literature, highlighting key findings and implications, as well as future research directions.

While the study contributes significantly to the field of knowledge, it has several limitations that must be considered when interpreting its findings and implications. With our emphasis on academic journals, the study analyzed only peer-reviewed journal articles, excluding conference papers, reports and technical articles. While we are confident that our approach resulted in a comprehensive and representative database, our reliance on Elsevier Scopus and Web of Science may have resulted in us overlooking relevant work accessible only through other databases. Additionally, specific bibliometric properties may not be time-stable, and certain common distribution patterns of the passive investing literature may still be developing.

With this study, it has been possible to observe and chart the high growth trajectory of passive investing research globally, especially post-US subprime crisis. Despite the widespread adoption of passive investing as an investment strategy, it is not a one-size-fits-all proposition. Market conditions change constantly, and it frequently requires an informed eye to determine when and how much to shift away from active investments and toward passive ones. Currency ETFs enable investors to implement a carry trade strategy in their portfolios; however, as a word of caution, currency stability and liquidity can play a significant role in international ETFs. Similarly, LETFs may be better suited for dynamic strategies and offer less value to a long-term investor. Lastly, the importance of investor education cannot be underestimated in the name of the highly diversified portfolio when using passive alternatives, for which necessary efforts are required by regulators and investors alike.

The inexorable trend to passive investing creates numerous issues for fund management, including fee and revenue pressure, which forces traditional managers to seek new revenue streams, such as illiquid and private assets, which also implies increased portfolio risk. Additionally, the increased transparency and efficiency associated with the ETF market indicates that managers must rethink the entire value chain, beginning with technology and the way investments interact. Passive investments have triggered changes in market structure that are still not fully understood or factored in. Active management and a range of valuation opinions on whether a price is “too low” or “too high” provide much-needed depth to a market as it attempts to strike a delicate balance between demand and supply forces, ensuring liquidity at all price points.

I hereby certify that I am the sole author of this paper and that no part of this manuscript has been published or submitted for publication.

This study aims to examine the impacts of bancassurance contracts on the financial performance of the Egyptian insurance market from 2011 to 2022.

To achieve this main objective, a mixed methodological approach was adopted: a quantitative methodological approach through analyzing the content of Misr Life Insurance (MLI) Firm’s annual reports from 2011 to 2022. This period frame includes three crucial eras in the history of Egypt: the period covered by the two revolutions in Egypt, the period of political and economic stability and the COVID-19 period. Furthermore, a paired sample test was conducted for two related samples to examine the differences between the averages of financial indicators of MLI Firm for the period prior to and after the bancassurance. Additionally, a qualitative case study approach was adopted, focusing on the MLI Firm in Egypt. To support and confirm the results from quantitative content analysis, an interview was conducted with a financial manager from MLI Company.

Generally, the analysis reveals that the financial performance indicators of MLI are significantly influenced by bancassurance because of the variations between the financial performance of MLI Company before and after bancassurance, as the company’s financial performance rose after the bancassurance experience. Therefore, the current research suggests promoting awareness of bancassurance contracts in Egypt to boost financial performance and economic development through bulletins.

The research has limitations because of its mixed methodological approach, focusing on annual reports, the Egyptian life insurance environment and the insurance sector.

The findings of this research are probably going to be helpful in clarifying the state of bancassurance in the Egyptian insurance industry for a wide range of interested parties, including managers, investors and scholars. More specifically, this research provides insights into MLI’s financial performance from 2011 to 2022. It aids investors in making informed decisions, boosts shareholder trust and encourages new business in the Egyptian insurance industry.

This research strives to establish a novel field of study, as there are few studies in developing countries that introduce empirical evidence on the impact of bancassurance on the financial performance of insurance firms in Egypt.

This study conducts a comparative analysis of the diversification effects of China's national carbon market (CEA) and the EU ETS Phase IV (EUA) within major commodity markets.

The study employs the TVP-VAR extension of the spillover index framework to scrutinize the information spillovers among the energy, agriculture, metal, and carbon markets. Subsequently, the study explores practical applications of these findings, emphasizing how investors can harness insights from information spillovers to refine their investment strategies.

First, the CEA provide ample opportunities for portfolio diversification between the energy, agriculture, and metal markets, a desirable feature that the EUA does not possess. Second, a portfolio comprising exclusively energy and carbon assets often exhibits the highest Sharpe ratio. Nevertheless, the inclusion of agricultural and metal commodities in a carbon-oriented portfolio may potentially compromise its performance. Finally, our results underscore the pronounced advantage of minimum spillover portfolios; particularly those that designed minimize net pairwise volatility spillover, in the context of China's national carbon market.

This study addresses the previously unexplored intersection of information spillovers and portfolio diversification in major commodity markets, with an emphasis on the role of CEA.

This paper systematically reviews and scrutinises the current development of studies concerning digital platform use in firms’ internationalisation. It also provides a research agenda for future work. Despite more than two decades of research, the study of how traditional firms enter foreign markets using digital platforms remains in its infancy. This paper contributes insights into the academic and managerial relevance of this field.

A systematic review of the literature based on content analysis was undertaken, drawing from peer-reviewed journal articles in international business, international marketing, information systems, and electronic commerce. The articles were published between 1999 and 2023, and the review employed a vote-counting method.

This analysis of 61 papers indicates that research on digital platform use in firms’ internationalisation is growing rapidly. However, the field itself is fragmented, and the research findings are inconsistent. This dynamic area reflects a growing trend, is dominated by several theories, relies primarily on survey data, and frequently uses China as a research context.

In acknowledging the vibrancy and managerial importance of this field, the authors offer a comprehensive overview of the existing studies to serve as a repository of knowledge on digital platform use in internationalisation for both academics and practitioners. Based on the aforementioned analysis, this study develops a reconciling framework to address current research gaps and identify future study directions.

Family businesses (FBs) are considered an essential type of entrepreneurship that impacts economic growth. However, statistics show that after a period of performance they ultimately fail, and comparatively little is known about the reasons for their failing when compared to the amount of research focusing on keys to success.

Through the implementation of an case study technique, which is widely used in research to address the complex phenomenon of failure, this paper aims to analyse the antecedents of failure in the case of four Catalan FBs. In doing so, this article develops propositions based on Institutional Economics Theory and Dynamic Capability Theory, with a focus on innovation and product diversification in family firms.

Using interviews as a means of obtaining a large amount of information, it is observed that problems related to governmental regulations and constantly changing social behaviour can lead to failure for FBs. Additionally, a link between R&D activities and new product development and FB failure is observed. More specifically, this research highlights that a lack of product diversification and innovation can become a hindrance for FB performance when the institutional environment is unstable. It reveals the importance of developing dynamic capabilities that can meet the demands of fast-changing consumer behaviour. From a practical perspective, these findings can be used by governments in developing regulations focused on the dynamic capabilities of FBs, and by managers in order to learn from these experiences and implement appropriate strategies for long-term development and crisis management.

This paper theoretically contributes to both the FB literature, as well as to institutional economics and dynamic capability theories by offering a combined perspective on how FB's dynamic capabilities change based on environmental factors and impact FB failure.