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The purpose of this paper is to examine the impact of intellectual capital and its components on bank diversification choice.

Both asset and income diversification are computed and an unbalanced panel data set of 32 banks covering the period 2000–2015 have been used. The panel corrected standard error regression has been used to account for serial correlation and heteroscedasticity.

The study found that intellectual capital determines the choice of diversifying. Precisely, intellectual capital motivates asset diversity but it dissuades income diversification. Human capital and structural capital are major components that determine asset diversity decisions. Income diversification decision, in this case to choose a focus strategy, is determined by human capital. This gives credence for the human capital theory in Ghana. Competition encourages a focus strategy. Bank size and leverage enhances income diversification while stock exchange listing and government ownership fosters the focus strategy.

Diversification strategy, knowledge base of staff, corporate governance and internal control have been considered as factors leading to the collapse of some Ghanaian banks in 2017–2018. The study provides relevant insights for regulators, decision support units and corporate boards. Intellectual capital and value added metrics should be used for modelling and decision making as they have value relevance.

This is a premier study that has examined the nexus between diversification strategy and intellectual capital in banks.

The study aims to fill a gap in the literature on the economic impact of industrial and international diversification on firm performance in the energy sector. Li et al. (2016) investigate firms listed in China, and this study analyzes firms listed in (Western) Europe.

A sample of 129 energy firms is extracted from Datastream and covers the period from January 2009 to December 2015. Univariate and multivariate regression analyses are used to determine a plausible relation of diversification on corporate performance. Also, the difference between renewable energy firms and conventional energy firms is explored.

A univariate analysis using both return on assets and Tobin's Q as a variable shows that renewable energy firms have a higher profitability than conventional energy firms. However, a multivariate analysis does not confirm this result. The authors also document a negative relation between diversification strategies and firm performance.

The study uses main industry codes. Yet, one might make a distinction between renewable energy and conventional energy amounts with corporations. Also, the authors cover financial crisis years. Researchers might take into account more recent years.

The findings of the study highlight the importance of short-term and long-term considerations for practitioners related to demand, the energy mix, oil prices and firm strategies.

The authors contribute to the debate and the literature when identifying similarities and differences between conventional energy firms and renewable energy firms in their application of diversification strategies and their (relation to) firm performance.

This study aims to systematise the links between firms’ strategies (corporate and business) and the cluster dynamics (through the cluster life cycle [CLC] perspective) and propose an integrative framework bridging firms’ strategic behaviour and cluster dynamics (CLC).

The methodology used is an integrative literature review, which provides a distinctive form of research.

The study identifies several links between firms’ strategies (corporate and business) and the cluster dynamics (CLC), namely: (1) firms’ strategies as a triggering factor of cluster evolution; (2) firms’ strategies and path's decline; (3) firms’ strategies and cluster’s renewal; (4) resilience strategies and the cluster life cycle; and (5) cluster’s features and firms’ strategies.

This study contributes to developing strategic management theory and cluster theory by bridging firms' strategies and cluster dynamics (CLC). It proposes a new conceptualisation of the impact of cluster dynamics on firms' strategic choices – firstly, it proposes a specific approach to identify the CLC; and secondly, it develops an integrative framework model that relates firms' strategies and each stage of the CLC. These are theoretical tools relevant for further advancements in this area of research, as they can be applied in studies of different clusters for validation, something that was not done.

The integrative framework is expected to be helpful to company managers, allowing them to design better strategies that account for dynamic cluster environments.

This study aims to fill this gap in the literature by systematising the links between firms' strategies (corporate and business) and the cluster dynamics (CLC).

Farmers' adaptation strategies in agricultural production are required to minimise the negative impact of climate change on a nation's food production in developing countries. Based on the panel data of the provincial level in China from 2000 to 2017, this study aims to analyse the changing climate over recent years and farmers' adaptation strategy in terms of cropping in agricultural production.

This study uses Simpson's diversity index (SDI) to measure the degree of crop diversity planted by farmers and evaluate the influence of climate change on farmers' cropping strategy using the fixed-effect model. Further, the authors estimate the impact of farmers' cropping strategy on their economic performances in two aspects including yields and technical efficiency of crops.

The empirical results show that the overall climate appears a warming trend. Different from farmers in some other countries, Chinese farmers tend to adopt a more specialised cropping strategy which can significantly improve the technical efficiency and yields of crops in agriculture. In addition, as a moderating role, the specialised cropping can help farmers to alleviate the negative impact of climate change on technical efficiency of their crops.

First, previous studies showed that the changing climate influenced farmers' adaptation strategies, while most studies focussed on multiple adaptation strategies from the farm-level perspective rather than cropping strategy from the nation-level perspective. Second, the present study investigates how the cropping strategy affects the economic performance (in terms of the technical efficiency and crop yields) of agricultural production. Third, the stochastic frontier analysis method is used to estimate the technical efficiency. Fourth, this study explores the moderating effect between farmers' cropping strategy and technical efficiency by introducing an interaction item of SDI and accumulated temperature.

Building on behavioral agency theory, the authors explore the role played by corporate governance characteristics as drivers of the diversification strategies of family firms. Specifically, this study aims to investigate the effects of board size and board gender diversity on the likelihood that family firms will execute a diversifying acquisition vis-à-vis a related acquisition. Furthermore, the authors investigate the contingency effects played by foreign directorship and the firm’s listing status.

The hypotheses are tested on an original sample of 213 cross-border acquisitions executed by Italian family firms between 2008 and 2021.

The findings suggest that both large board sizes and greater gender diversity positively affect the diversification of family firms. While the presence of foreign directors magnifies the positive effect of board size, gender diversity discourages diversification in the case of listed firms.

The originality of this study is twofold. First, while prior literature has mostly focused on the family vs nonfamily dichotomy, this paper contributes to an emergent line of research investigating the heterogeneity among family firms’ corporate strategy decisions. Second, by exploring the corporate governance-diversification link in the context of family business, the authors answer to recent calls that diversification by family firms deserves further investigation in light of its highly controversial nature in terms of socioemotional wealth implications and potential mismatch among multiple objectives.

The visitor economy of Forks now clearly relies upon a niche form of tourism – as fans of The Twilight Saga are drawn to the setting and filming location of the films. The purpose of this study is to consider the process of diversification and subsequently present recommendations that could inform a future diversification strategy for Forks, in preparation for a post-film tourism scenario.

The research methods employed in this study have two interlinked but distinct elements. Firstly, the Twilight Effect in Forks (WA, USA) is considered as an illustrative case study to shed light on the issues facing a destination that has seen a tourism boom as a direct result of popular culture – The Twilight Saga Franchise. Secondly, a scenario thinking and planning approach is applied when considering the “long-view” future of tourism in Forks.

This article presents a post-film tourism future scenario for Forks; it suggests tourism diversification and a shift towards cultural heritage and wellness. Forks is well placed to afford such tourism experiences, as it offers unique cultural and natural characteristics; furthermore, these could be utilised to create and maintain a distinctive destination image. In doing so a more socially and environmentally sustainable industry can be established, one which supports the local community, including the Quileute tribe.

The article offers original discussions within the film-tourism literature with novel approaches to understanding the management and pre-planning opportunities for destinations that have become popular film tourism locations, with the application of a “Tourism Diversification Model”. The model is adapted from Ansoff Matrix and can be applied as a framework in future studies exploring destination diversification. The investigation of Forks as a post-film tourism case study alone is unique, and the discussions and findings presented are original.

Smallholder farmers have always been profoundly the first to be impacted by climate change, and therefore, farmers understanding of climate change and accessibility to alternative adaptation strategies are crucial for reducing the effect of climate change. The purpose of this study is to assess the perception of farmers to climate change, adaptation strategies and determinants of adaptation choice in central Ethiopia.

The study used data from randomly selected 240 farm households. Descriptive statistics were used to describe farmers’ perceptions of climate change and adaptation strategies. Also, a multivariate probit model was used to identify the major factors affecting farmers’ choice of adaptation strategies to climate change in central Ethiopia.

Smallholder farmers perceive climate change in the past two decades in response; the majority (91.47%) of farmers used adaptation options. Improved crop varieties and input intensity, crop diversification, planting date adjustment, soil and water conservation activities and changing of the crop type were used as adaptation options in the study area. A few of these strategies were significantly confirmed a complementary and supplementary relationship. The study identified sex, family size, agroecology, climate information, crop-fail history and formal extension service as significant determinants for farmers’ adaptation choices as these variables significantly affected more than two farmers’ adaptation strategies simultaneously.

Farmers’ choice of adaptation was highly constrained by institutional factors and all these identified factors can be possibly addressed through a better institutional service provision system. It is, therefore, recommended that local administrators should explore the institutional service provision system for a better farm-level adaptation while considering demographic characteristics as well.

This study identified factors affecting farmers’ several adaptation strategies at a time and provides information for the policymaker to make cost-effective interventions for better farm-level adaptation practices.

In Ghana, legal and illegal artisanal small-scale mining (ASM) activities have attracted the attention of the general populace and academia with varied opinions. This study examined how adopting the coping strategies for ASM operations affected the welfare of farm households.

Primary data were solicited from respondents using a semi-structured questionnaire. This paper used the endogenous treatment effect model to quantitatively estimate whether or not farmers who adopt coping strategies for activities of ASM have improved or deteriorated welfare.

The results revealed that households adopted coping strategies such as diversification, social networking, land reclamation, borrowing, dependence on the market for food and resettlement in other communities. The endogenous treatment effect model results show that households that adopted land reclamation and social networking had improved welfare regarding consumption expenditure and food security compared to non-adopters. Conversely, diversification was associated with lower consumption expenditures and high food insecurity among adopters.

This paper recommends that farm households in mining communities form cooperatives and farmer-based organizations to ensure improved access to joint resources for enhanced capacity to cope with ASM-induced shocks. There is a need for government and civil society organizations to encourage and support land reclamation measures.

This paper covers a broader perspective and deploys more than one welfare proxy, which has not been considered before in previous studies.

Industrial tourism not only strives to preserve industrial heritage, but can also be a strategy for being familiar with the history of industry and attracting tourists to new destinations. This paper examines the issue of promoting petroleum industrial tourism in the case of Khuzestan, Iran. The research aims at determining appropriate strategies for promoting petroleum industrial tourism.

The data were analysed through a strengths, weaknesses, opportunities, and threats (SWOT) model.

The results revealed the competitive strategy as the best. Lastly, strategies such as: concentric diversification, joint venture strategy, conglomerate diversification and horizontal diversification were proposed as key solutions. The results support the view that establishing an exploratory ecomuseum in the territory of Khuzestan Province can be a suitable concentric diversification strategy towards petroleum industrial sustainable tourism in the future.

The main originality of this paper includes linking tourism with the petroleum (oil and natural gas) industry and its natural landscapes for the first time in a case study. Therefore, the results of this research can extend the literature in this regards. Moreover, this paper attracts tourists to visit natural landscapes of petroleum heritage.

This study analyzes the static and dynamic risk spillover between US/Chinese stock markets, cryptocurrencies and gold using daily data from August 24, 2018, to January 29, 2021. This study provides practical policy implications for investors and portfolio managers.

The authors use the Diebold and Yilmaz (2012) spillover indices based on the forecast error variance decomposition from vector autoregression framework. This approach allows the authors to examine both return and volatility spillover before and after the COVID-19 pandemic crisis. First, the authors used a static analysis to calculate the return and volatility spillover indices. Second, the authors make a dynamic analysis based on the 30-day moving window spillover index estimation.

Generally, results show evidence of significant spillovers between markets, particularly during the COVID-19 pandemic. In addition, cryptocurrencies and gold markets are net receivers of risk. This study provides also practical policy implications for investors and portfolio managers. The reached findings suggest that the mix of Bitcoin (or Ethereum), gold and equities could offer diversification opportunities for US and Chinese investors. Gold, Bitcoin and Ethereum can be considered as safe havens or as hedging instruments during the COVID-19 crisis. In contrast, Stablecoins (Tether and TrueUSD) do not offer hedging opportunities for US and Chinese investors.

The paper's empirical contribution lies in examining both return and volatility spillover between the US and Chinese stock market indices, gold and cryptocurrencies before and after the COVID-19 pandemic crisis. This contribution goes a long way in helping investors to identify optimal diversification and hedging strategies during a crisis.