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This study explores the short- and medium-term effects generated by the Milan Expo 2015, adopting a microeconomic approach. The focus is on the hospitality sector. The study embraces nine years, identifying three intervals: pre- (2011–2014), during- (2015) and post-Expo (2016–2019). The time span does not include the Covid-19 pandemic period, which started in 2020. The dataset is composed of daily data. Three research questions are explored. First, an overall evaluation of the short- and medium-term effects is performed. Second, the seasonal effects are measured. Finally, the impacts for different classes of hotels are considered. The findings are supportive for the legacy generated by the Milan Expo. The results confirm the ability of the Milan Expo to strengthen the leisure segment. Positive results have been observed for all classes of hotels, relevantly augmenting the real revenue per available room (RevPAR). Luxury hotels achieved the highest increase of RevPAR, while economy class hotels registered the highest percentage of increase of RevPAR.

By combining the notion of prospect theory with advanced machine learning algorithms, this study aims to predict whether financial institutions (FIs) adopt a reactive stance when they perceive climate change as a risk, consequently leading to the adoption of environmental, social and governance (ESG) practices to avoid this risk. Prospect theory assumes that decision-makers react quickly when decisions are framed as a risk or threat rather than as an opportunity.

We used a sample of 168 FIs across 27 countries and seven regions over the period 2003–2020. To conduct our empirical investigation, we compared the prediction accuracy of various machine learning algorithms.

Our findings suggest that out of 12 machine learning algorithms, AdaBoost, Gradient Boosting and XGBoost have the most precision in predicting whether FIs react to climate change risk in adopting ESG practices. This study also tested the overall climate change risk and risks associated with physical, opportunity and regulatory shocks of climate change. We observed that risks associated with physical and regulatory shocks significantly impact the adoption of ESG practices, supporting prospect theory predictions.

The insights of this study provide important implications for policymakers. Specifically, policymakers must take into account the risk posed by climate change in the corporate decision-making process, as it directly influences a firm’s adoption of corporate actions (ESG practices).

To the best of our knowledge, this is the first study to investigate the firm-level climate change risk and adoption of ESG practices from a prospect theory perspective using novel machine learning algorithms.

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.

While referring to the inability of South Africa (SA) to absorb the large number of new musicians produced by SA universities each year and how South African music practitioners find limited employment opportunities for themselves in SA's cultural sector, a panel member at a musicology symposium in 2011 stated that “we are creating exiles.” The panel member made the statement during dialogue on the state of national higher education level music curricula, whether they were transformed to mirror the needs of the country or not, and what this meant for a contemporary music performance career in SA. Exile is the point of departure of this chapter, where conditions of public and institutional policy during and after apartheid are framed as encouraging the expanded borders of SA musicians. The emphasis is on how exile is a desired economic result especially among Black musicians who have a scarcity-prone SA music marketplace. This chapter also engages with multilevel policy-led interventions of inclusion and diversity that attempt to grow the SA Black music market.

This study focuses on analysing Japanese pop culture events to determine whether they may be useful marketing tools for a location with a distinctive culture from where they are organized. It also examines how the popular culture events differ from other events and what impacts they have on these destinations.

A mixed-method approach is used to analyse data from a questionnaire provided to 364 participants from these events and seven semi-structured interviews with event organizers or their representatives from events on this topic in Portugal, France, Spain, Denmark and North America.

According to the research, these events are regarded as unique and unusual from the perspective of the customer due to the variety of activities they offer, the use of imagination they inspire and the engaged fan participation. These occasions have been found to strengthen and propagate Japanese popular culture outside of its place of origin and arouse interest in it.

Several studies have examined the appeal of Japanese pop culture, but few have investigated the impact of events to enhance the destination's image where they are held, as well as their potential outside of Japan. With already over a hundred official events of this theme held annually, with a sizable number of participants, a study of this paradigm exposes its potential for promoting a culture that is growing in popularity outside of its place of origin and understanding the effects it has on these various regions.

We adopt the conceptual lens of the Dynamic Capabilities Approach to evaluate the relationship between Entrepreneurial Orientation (EO), Digital Marketing Capabilities (DMC), and Performance in Brazilian franchises.

We applied a survey with franchisors at the Brazilian Franchising Association Expo 2022. Data were collected for 145 franchise systems. We used Partial Least Squares Structural Equation Modeling and tested two distinct models. Model 1 presents the direct effects of EO and DMC on Performance. In Model 2 we include the mediation effect of DMC on the relationship between EO and Performance.

Aligned with prior literature, in our first model we found a direct association between EO and Performance and between DMC and Performance. In our second model, when analyzing the combination of EO and DMC, we observed a full mediation effect of DMC in the relationship between EO and performance, and an indirect effect of EO on performance.

We advance in the debate of the relationship between EO and Performance in the franchise context, adding to our model the DMC perspective. Findings shed light on the importance of digital marketing capabilities for franchise systems. These elements open important avenues for dedicated research to further understand how digitalization process can be redefining the drivers of performance in entrepreneurial firms.

Guided by stimulus-organism-response (SOR) theory, this study analyzed the user-generated content (UGC) produced by attendees from six anime conventions in the USA.

A total of 739 online reviews and 1,932 photos were collected from the social platforms of six large anime conventions in the USA (Yelp and Facebook), and the study employed thematic analysis and image analysis to analyze the collected UGCs.

The findings revealed eight main themes (i.e. ambient and space, customers, service and products, sign and symbol, social density, emotional status, motivation, and behavior intention) and 32 subthemes across the three dimensions of SOR theory. Leveraging the power of cutting-edge image analysis, the image labels obtained from the analysis contributed to the creation of network clusters. The result of the image analysis also continued consistently with the thematic analysis result, which reflected SOR theory.

Theoretically, the study applied SOR theory and blended thematic and image analyses to gain a comprehensive understanding of anime convention attendees’ experience and categorized the attendees’ emotional status as positive or negative to reflect their overall evaluation. Practically, this study highlighted some complaints from attendees and provided suggestions for operators. However, the study focused only on large anime conventions in the USA; future studies should compare attendees’ experiences with small and large conventions or anime conventions worldwide.

The study utilized UGCs to understand the key patterns essential to attendees during anime conventions in the USA and applied SOR theory to its investigation.

In the current competitive era of industrialization, a significant level of innovation is necessary to meet the growing competition. There are many economic forces that determine the pace of innovation within a country. Among others, this study aims to focus on exploring the relevant role of corruption control (CC) in determining the innovation level.

For empirical analysis, the authors sample the 24 years of data (1996–2019) of Asian economies and use the fully modified ordinary least square (OLS) and dynamic OLS models to check the regression among variables. The selection of both techniques is based upon the empirical suggestions offered by unit root testing and the Johansen cointegration test.

The empirical findings infer the positive and statistically significant role of CC in boosting innovation. Strengthening the corruption-free environment encourages innovation activities within the country. In addition, foreign direct investment has a negative relationship with CC while financial development, economic growth, export volume and government subsidies positively determine the innovation level.

Based on empirical analysis, it is suggested that the policy officials should do more focus on CC to enhance the competitiveness of the country through more innovation.

The empirical analysis robust the findings of existing literature in an alternative data set and offers innovative views regarding the role of other factors in boosting the innovation level.

The purpose of the study is to examine the relevance and application of green communication in management of the risks associated with moral outrage inducing crises. The study aims to identify how green communication mitigates both crisis risks and moral outrage. Additionally, the research discusses ethical and unethical green communication practices in the context of their impact on relationships between organizations and stakeholders during the crisis.

The study is designed as exploratory research. Available English-language journal articles and conference proceedings have been examined to investigate the role of green communications in crisis response contexts. The application of the search criteria and initial filtering yielded a total of 139 publications for further analysis. Following a detailed review and subsequent filtering, the final sample of 66 unique cases has been selected and analyzed in the context of Situational Crisis Communication Theory.

The systematic review and document analysis indicated multitude of significances of green communications in the context of the updated Situational Crisis Communication Theory. Moreover, a novel phenomenon has been identified: greenbleaching is exaggerated or fabricated usage of green communication to mitigate risks in the organizational crises caused by ESG-unrelated factors or events.

This study offers greenbleaching as a novel concept. Moreover, this is the first research that examines unethical green communication in the context of moral outrage inducing crises. Insights for researchers and practitioners regarding sustainability communication, green communication, and crisis communication ethics are also incorporated.