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Leveraging the boom of a craft beer renaissance, this paper explores social capital theory through the impact of the craft brewing industry. The exploration addresses entrepreneurial micro-ecosystems that share one commonality – the need for community development and revitalization. North Carolina's deregulation of craft brewing (Pop-the-Cap Initiative, 2005) led to a boom of brewery startups, from 54 in 2010 to more than 380 in 2022.

This qualitative study focuses on 15 brewery founders who have launched ventures within a few years of the Pop-the-Cap Initiative. This included 15% of those breweries launched between 2012 and 2017. Naturalistic Inquiry methodology was utilized, and semi-structured interviews, observations, and artifact analyses were applied to each participant via content analysis and NVivo.

Framed by two contributing entrepreneurial mindset factors (anti-establishment mindset and business-person's burden mindset) and three external entrepreneurial micro-ecosystems conditions (community conditions, doom and boom conditions, and economic conditions), these emergent themes represent the ecosystem contributors (mindsets/conditions) associated with startup success and social value creation in rural and downtrodden urban areas.

This study facilitated a deep dive into two evolving entrepreneurial micro-ecosystems (rural/urban) through the perspective of brewery startups. It illuminated the actors, conditions, and domains in play. Conceptualizations of “nestedness” (Spigel, 2022) with “microfoundations” (Wurth et al., 2022) integrated to see a specific sector (craft brewing) developing within a sub-ecosystem's capacity to help frame and “understand the co-evolution of agents with entrepreneurial ecosystems” (Cho et al., 2022). Additionally, antecedents to the birth of local economies suggest the value of agents involved in evolution of nascent local economies (Cho et al., 2022). These findings reinforce developing literature while presenting opportunities for future studies.

Craft breweries in rural and urban environments represent third places within communities. Third places can be recognized as conduits for developing social capital among individuals, groups, and firms. High levels of social capital positively impact communities. These conditions helped anchor tenants thrive and did not occur accidently. They are intentional value propositions of entrepreneurs and ecosystem conditions.

Brewery entrepreneurs were aware of their contribution to social capital value, economic impact (e.g., tax revenue, jobs, space, attraction/destination, etc.), and how these facets interplay as revitalizing anchor tenants (i.e., craft breweries). Insight into how entrepreneurs come to understand and recognize their impact on community through social capital development and the economy can aid in further support ecosystems at the community level.

This study seeks to build a financial uncertainty index for Saudi Arabia. This index serves as a leading indicator of Saudi economic activity and helps to describe economic fluctuations and forecast economic trends.

This study adopts an extension of the Jurado et al. (2015) procedure by combining financial uncertainty factors with their net spillover effects on GDP and inflation to construct an aggregate financial uncertainty index. The authors consider 13 monthly financial variables for Saudi Arabia from January 2010 to June 2021.

The empirical results show that the constructed financial uncertainty estimates are good leading indicators of economic activity. The robustness analysis suggests that the authors’ proposed financial uncertainty estimators outperform the alternative estimates used by other existing approaches to estimate the financial conditions index.

To the best of the authors’ knowledge, this is the first attempt at constructing a financial uncertainty index for Saudi Arabia. This study extends the empirical literature, from which the authors propose a novel conceptual framework for building a financial uncertainty index by combining the approach of Jurado et al. (2015) and the time-varying connectedness network approach proposed by Antonakakis et al. (2020)

The study examines the effect of macroeconomic risk, inflation uncertainty and instability associated with key macroeconomic indicators on the efficiency of financial institutions among economies in sub-Saharan Africa (SSA).

Data for the empirical inquiry were compiled from 35 SSA economies from 1996 to 2019. The empirical estimates were carried out using pooled ordinary least squares (POLS) with Driscoll and Kraay’s (1998) standard errors.

Reported empirical estimates show that macroeconomic risk and exchange rate volatility constrain the efficiency of financial institutions. Further results suggest that inflation uncertainty has a significant influence on the efficiency of financial institutions among economies in the subregion. Additionally, reviewed empirical estimates show that institutional quality positively moderates the nexus between inflation uncertainty and financial institution efficiency. At the same time, political instability is found to worsen the adverse effect of macroeconomic risk on the efficiency of financial institutions.

For policymakers and governments, improved institutional structures are recommended to ensure the operational efficiency of financial institutions, especially during an inflationary period. For decision-makers among financial institutions, the study recommends policies that have the potential to make their institutions less vulnerable to macroeconomic risk and exchange rate fluctuations.

The approach adopted in this study differs significantly from related studies in that the study examines and reviews interactions and relationships not readily found in the reviewed literature.

This chapter delineates the conditions, challenges and opportunities for the sustainability of small entrepreneurial firms involved in local food tourism. It raises awareness on how these businesses can enhance their competitiveness in this market. It puts forward an analytical framework that is based on the economic, social, environmental and cultural sustainability of small local food tourism entrepreneurs in Swedish, Italian and Spanish contexts. This research implies that the financial sustainability of these small enterprises is contributing to local economic growth and employment in their country. From the social sustainability aspect these tourism businesses are intrinsically linked to local communities. Their responsible practices are meant to safeguard the environmental sustainability as well as the preservation of their local culture and heritage. At the same time, they enable them to add value to their destination’s cultural sustainability.

The aim of this paper is to study the effect of strategic and project related potential risks on project delivery in Qatar. Two objectives have been defined. The first is to identify potential risk indicators (manifest variables) and categorize them (constructs/latent variables) based on a literature review, while the second is to examine and rank the relationships between the indicators and constructs by developing a structural equation model.

Twenty-five indicators were identified from the literature review and categorized into five groups. To collect the data, an online questionnaire was distributed in Qatar, and 116 responses were obtained. Structural equation modeling (SEM) was used to examine the model. The model that was developed based on the research hypothesis met goodness-of-fit, reliability and validity requirements.

The results showed that all constructs contributed well to the model and that the project parties (PPs) have the highest contribution with an effect weight of 0.209 followed by economic and legal (EL) conditions with an effect weight of 0.205. Site and safety (SS) conditions were third with an effect weight of 0.200 while environmental, natural and technological (ENT) conditions were fourth with an effect weight of 0.1989. The last ranked construct is political and social (PS) conditions with an effect weight of 0.186. Based on the outcome of the SEM, recommendations were provided to industry professionals in Qatar about mitigating the impact of potential risks on construction project.

To the authors' best knowledge, this is the first study to quantify the effects of strategic and project related risks on a construction project using SEM, considering the risk management indicators of SS, EL, ENT, PS in Qatar. The study's practical implications are to enlarge the project's risk management plan by considering the strategic and project related risks to enhance the project performance for the cost overrun and delay. The study is intended for construction projects in Qatar, but it can easily be adapted to other parts of the world given the local circumstances.

This study contributes to the participative budgeting and budget misrepresentation literature by exploring: (1) whether managers’ judgments of fair behaviors are malleable and context-dependent and (2) if these judgments of fair behavior impact cost reporting misrepresentations. Two experiments investigate these questions. Experiment 1 (n = 42) tests whether the behavior that managers judge to be “fair” differs based on the decision context (i.e., initial economic position [IEP]). Experiment 2 (n = 130) investigates: (1) how managers’ deployment of fairness beliefs influences their reporting misrepresentations and (2) how decision aids that reduce task complexity impact managers’ deployment of fairness beliefs in their misreporting decisions. The study found that managers deploy fairness beliefs (i.e., honesty or equality) consistent with maximizing their context-relevant income. Hence, fairness beliefs constrain misrepresentations in predictable ways. In addition, we find more accounting information is not always beneficial. The presence of decision aids actually increases misrepresentations when managers are initially advantaged (i.e., start with more resources than others). The implications from these findings are relevant to the honesty and budgeting literature and provide novel findings of how managers’ preferences for fairness constrain managers from maximizing their income. The chapter demonstrates that contextual factors can influence the deployment of managers’ fairness beliefs which, in turn, differentially impact their reporting misrepresentation. Another contribution is that providing decision aids, which reduce task complexity, may not always benefit companies, since such aids may increase misrepresentation under certain conditions.

This study aims to assess how airline companies can frame their message strategies given the effects of the COVID-19 pandemic.

Message forms used in empirical tests included message framings, regulatory focuses and benefit types. A total of 450 participants were recruited through an online survey.

Promotion-focused behavioral intention was more effective when personal economic benefit was negatively framed. However, prevention-focused behavioral intention was more effective where social benefit was positively framed. The results were moderated by personal traits such as the level of perceived COVID-19 threat.

The findings of this study can help create new communication strategies during risky or critical situations.

本文实证分析中所使用的信息形式包括信息框架、监管重点和利益类型。通过线上问卷调查, 共招募了450名参与者。数据分析采用了ANOVA检验和Hayes（2017）的PROCESS检验。

当个人经济利益是负面框架时, 促进定向的行为意向更有效。然而, 当社会利益是正面框架时, 防御定向的行为意向更为有效。上述关系受到个人特质的调节, 如COVID-19感知威胁的程度。

本研究的结果是新颖且有意义的, 有助于在风险或危急情况下创造新的传播策略。

Las formas de mensaje utilizadas en las pruebas empíricas incluyeron encuadres de mensajes, enfoques normativos y tipos de beneficios. Se reclutó a un total de 450 participantes a través de una empresa en línea porque era difícil recopilar datos durante la pandemia.

Este estudio pretende evaluar cómo las compañías aéreas pueden enmarcar sus estrategias de mensajes teniendo en cuenta los efectos de la pandemia de COVID-19.

El comportamiento centrado en la promoción fue más eficaz cuando el beneficio económico personal se enmarcó negativamente. Sin embargo, el comportamiento centrado en la prevención fue más eficaz cuando el beneficio social se enmarcó positivamente. Los resultados fueron moderados por rasgos personales como el nivel de amenaza percibida de COVID-19.

Las conclusiones de este estudio son muy novedosas y significativas en la medida en que pueden ayudar a crear nuevas estrategias de comunicación durante situaciones de riesgo o críticas.

In this chapter, we perform more detailed analyses and present the distribution characteristics and risk-return relationships of accounting-based financial returns (ROA) across different industry contexts and between periods with different economic conditions. We first display the frequency diagrams of the return measure (ROA) and its two components, net income and total assets, that show entirely different contours in the density graphs that must be reconciled. This is partially accomplished by analyzing the skewness, kurtosis, cross-sectional, and longitudinal risk-return characteristics of each of the three variables. The analyses further considers potential effects of accounting manipulation, and different organizational and executive traits, that identifies significant effects on the accounting-based return measures. We find extremely left-skewed return distributions with high negative correlations between the average return and risk measures, which reproduces the “Bowman paradox” as originally conceived. The same analysis is performed on net income and operating cash flows, the latter being less susceptible to accounting manipulation, which should display similar effects even though these performance distributions show positive skewness. We find negative but insignificant cross-sectional risk-return relations that nevertheless reappear in analyses performed within the specific industry contexts. The study further uncovers effects from prevailing economic conditions where left-skewness and kurtosis as well as negative risk-return correlations are much more significant during periods of high economic growth and business expansion where competition is more pronounced.

This study analyses configurations of national culture as boundary conditions of countries’ national systems of innovation (NSI). Drawing from the NSI approach, we argue that culture’s role is that of a contingency factor shaping the relationship between investments in innovation and national innovation outputs.

We assessed the moderation effect of national culture through a systematic, two-stage approach using fuzzy-set Qualitative Comparative Analysis (fsQCA), which allows the analysis of changes induced by the moderator variables. Analyses were conducted with a diverse sample of 61 countries over a period spanning 12 years, from 2011 to 2022.

Findings reveal that investments in innovation, but not individual cultural dimensions, is a necessary condition for high innovation outputs. Furthermore, several configurations of cultural dimensions were identified as moderators of the relationship between investments in innovation and innovation outputs.

This study provides insights into cross-national innovation research by exposing the role of cultural configurations, rather than just individual cultural dimensions, as boundary conditions involved in the achievement of high levels of innovation.