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The purpose of this paper is to form propositions about the relationship between top management team (TMT) heterogeneity and peer effects in investment decision-making and explore the mediating role of social learning processes.

To investigate the correlations between TMT heterogeneity and investment peer effects, we considered the TMT heterogeneity category, team process and contextual factors. With a sample of 8,467 firm-year observations from Chinese listed companies, we used the mean linear model and instrumental variable method to empirically examine their relationships. To identify the mediating role of social learning processes, we introduced a social learning model to find out the contextual factors influencing corporate social learning demands from three aspects and subsequently used comparative statics analysis to explore the variations in the main effect under these contextual factors.

For task-oriented heterogeneity (e.g. functional background, education and tenure heterogeneity), the opposite effects of information elaboration and social categorization processes make it a nonlinear multiplex correlation with investment peer effects. For relation-oriented heterogeneity (e.g. age and gender heterogeneity), the sole effect of social categorization processes leads to a negative linear correlation. Further, we identify the mediating role of social learning processes. In summary, we established a connection from the TMT heterogeneity, to information elaboration theory or social categorization theory, to social learning processes and ultimately to investment peer effects.

The results of this study provide a comprehensive perspective to predict the decision-making outcomes of team heterogeneity and contribute to heterogeneity research and practice.

In this study, the research question posed was: What are the defining characteristics, limitations, and potential opportunities in the research on heterogeneity within ASD?

This scoping review used the Preferred Reporting Items for Systematic Reviews and Meta-Analyses methodology to address the research question: “What are the defining characteristics, limitations, and potential opportunities in the research on heterogeneity within ASD?” A comprehensive literature search was conducted across databases including MEDLINE/PubMed, SciVerse Scopus and Springer Link, with keywords such as autism, autism spectrum disorder (ASD), heterogeneity and neurodevelopment. Inclusion criteria covered original research, reviews and protocols published since 1990, while irrelevant or out-of-date works were excluded. Thematic analysis was applied to collected data to identify common patterns, trends and key characteristics, leading to a narrative synthesis. Ethical review board approval was not required due to the nature of the review.

The scoping review underscored the multifaceted nature of ASD, emphasizing its clinical, methodological and investigational complexities. ASD’s diverse behavioral, social and biological characteristics challenged its classification as a uniform entity. To address this, the review examined strategies like stricter clinical criteria, categorization into functional subgroups, and larger, diverse sample sizes. Moreover, it highlighted the transformative role of Big Data and machine learning in advancing the comprehension of ASD’s manifold manifestations. This research contributed valuable insights and innovative approaches for addressing the intrinsic heterogeneity of ASD, reshaping the understanding of this complex condition.

One limitation of this scoping review is that it primarily relied on existing literature and did not involve primary data collection. While the review synthesized and analyzed a substantial body of research, the absence of original data collection may limit the depth of insights into specific aspects of ASD heterogeneity. Future research could benefit from incorporating primary data collection methods, such as surveys or interviews with individuals with ASD and their families, to gain more nuanced perspectives on the condition’s heterogeneity.

The reliance on existing literature in this scoping review highlights the need for further empirical studies exploring ASD’s heterogeneity. Researchers should consider conducting primary data collection to capture real-world experiences and variations within the ASD population. This approach could provide more comprehensive and context-specific insights, ultimately informing the development of tailored interventions and support strategies for individuals with ASD and their families.

This paper offers a fresh perspective on understanding ASD by examining its clinical, methodological and investigational implications in light of its inherent heterogeneity. Rather than viewing ASD as a uniform condition, this study explores strategies such as stricter clinical criteria, subcategorization based on functionality and diverse sample sizes to address its complexity. In addition, this study highlights the innovative use of Big Data and machine learning to gain deeper insights into ASD’s diverse manifestations. This approach contributes new insights and promising directions for future research, challenging the conventional understanding of ASD as a singular entity.

The rapid development of digital technologies drives digital entrepreneurs to pivot, a behavior that allows entrepreneurs to adjust original opportunities and explore new opportunities. This study aims to investigate the effect of the structural characteristics of digital entrepreneurial teams, the functional heterogeneity, on pivoting from the perspective of digital agility. Moreover, this study also examines the moderating effect of knowledge sharing.

Two-phase survey data were sourced from Chinese digital entrepreneurial teams through the entrepreneurial networks of MBA programs of a Chinese business school and entrepreneurial support organizations in China. The sample of 272 teams with 708 entrepreneurs was collected to test the hypotheses.

The functional heterogeneity of digital entrepreneurial teams, including industry background heterogeneity and occupational experience heterogeneity, positively impacts pivoting by providing heterogeneous knowledge and resources. Moreover, this relationship is mediated by the digital agility of the digital team, and knowledge sharing moderates the relationship between functional heterogeneity and digital agility.

While existing studies have mainly focused on the external factors, this study empirically investigates the team-level internal factors of digital pivoting in digital entrepreneurial teams, enriching the research perspective of pivoting. Moreover, the current study bridges the literature on digital agility with pivoting, broadening the theoretical mechanism of pivoting and expanding the theoretical boundaries of digital agility.

Decision comprehensiveness is an important process in determining the outcomes of strategic decision-making. While recent research began to explore its individual level antecedents, a fundamental aspect of organizational life, heterogeneous goals, have not been investigated for their effects on comprehensiveness. In this study, our purpose is to study the impact of goal heterogeneity on decision comprehensiveness and explore behavioral integration as a potential mediator in this relationship.

To test our hypotheses, we utilize a survey-based study with a sample of teams undertaking a business simulation. Our longitudinal data collection process captures team data across the initial-, mid-, and the ending-stages of the simulation.

Our findings show that goal heterogeneity negatively impacts behavioral integration and decision comprehensiveness. Moreover, the negative impact of goal heterogeneity on decision comprehensiveness is mediated through behavioral integration.

Given that many strategic decisions are undertaken by groups of individuals, it is imperative to understand the factors that impact team-level decision-making processes. Extending the literature, we empirically show the negative effects of goal heterogeneity on decision comprehensiveness. While doing so, we also show that behavioral integration – a team trait that can endure over time, as opposed to a one-time state – can be crucial in dampening this negative effect. Our findings suggest researchers, and managers, to be cautious in assuming decision comprehensiveness may easily be achieved in any given team context.

A separate study of the different behavioral biases does not allow for a full understanding of the complexity and stability of the heterogeneity of beliefs. Therefore, through a more global view of these anomalies, the authors wish to show that they can converge on a single concept, which is the heterogeneity of beliefs.

It is therefore essential to stress that the importance of this study is mainly reflected in the methodological approach used in the construction and analysis of the map and not only in the results achieved. This contribution states that structural analysis, as a means of building the cognitive map, can facilitate the task of investors and other decision-makers, in the identification and analysis of the heterogeneity of beliefs that can therefore guide investors' strategy in decision-making.

The authors have studied the behavior of the investor and its way of interpreting the information and the authors have emphasized the value of studying the concept of heterogeneity of beliefs in its complexity. So that part of the work seems to be relevant and crucial to filling, if you will, that void. In this sense, the authors have shown that behavioral abnormalities are multidimensional concepts: “self-deception”, “cognitive bias”, “emotional bias” and “social bias”.

In particular, this article will aim to achieve the objective of proposing a model for measuring the heterogeneity of beliefs. Thus, the authors want to show that the heterogeneity of beliefs can be measured directly through the different behavioral anomalies.

This study aims to reveal the mechanism of CEO overconfidence in the digital transformation of specialized, refined, distinctive and innovative (SRDI) enterprises, thereby enriching research related to upper echelons theory and corporate digital transformation.

This study uses listed SRDI companies in China from 2017 to 2022 as a sample and adopts a fixed-effects regression model to analyze the direct, mediating, and moderating effects of CEO overconfidence on corporate digital transformation.

First, CEO overconfidence significantly promotes SRDI enterprises' digital transformation. Second, according to the “cognition-behavior-outcome” model, we found that entrepreneurial orientation plays a mediating role. Third, based on the principle of procedural rationality and the interaction perspective between the CEO and the executive team, we introduce the heterogeneity of the executive team as a moderating variable. Our findings indicate that age heterogeneity within the executive team has a negative moderating effect, whereas educational and occupational heterogeneities have positive moderating effects.

This study expands on earlier research that focuses primarily on CEO demographic characteristics. It enriches the analytical perspective of upper echelons theory on corporate digital transformation by analyzing the psychological characteristics of CEOs, that is, overconfidence and its mediating pathways. Moreover, this study goes beyond the previous literature that does not differentiate between CEOs and executive teams by introducing the concept of CEOs' interactions with the executive team and including the heterogeneity of the executive team as a moderating variable in the literature. Thus, continuing to deepen the application of upper echelons theory to corporate digital transformation. Additionally, this study contributes to the literature on the positive consequences of overconfidence.

Heterogeneous risk disclosure has been proven to improve the efficiency of new stock issuance, but excessive risk disclosure during the IPO may lead to irrational underestimation of the company, which is different from the original intention of management's detailed disclosure. Therefore, this study aims to examine the impact of IPO heterogeneous risk disclosure on earnings management motivations from the information transfer perspective of earnings management.

The sample includes 2,000 listed companies listed firms on Shanghai and Shenzhen Stock Exchanges from 2007 to 2022. This study uses the pretrained ERNIE model to measure text similarity in the prospectus to measure the heterogeneity of IPO risk disclosure.

This study empirically finds that heterogeneous IPO risk disclosure suppresses the opportunistic motivation of earnings management because managers tend to use earnings management to leverage information transmission functions. Such an effect is more pronounced in firms with higher analyst attention, lower marketization levels and non-state-owned. And heterogeneous risk disclosure may inhibit management’s over-investment behavior, thereby reducing the possibility of management engaging in opportunistic earnings management. Besides, price discounts are used to distinguish opportunistic and non-opportunistic earnings management and carry out a quasi-natural experimental design to demonstrate that marketization can enhance the relationship between heterogeneous risk disclosure and earnings management.

This study contributes evidence regarding the economic consequences of managerial earnings management behavior related to heterogeneous IPO risk disclosure. It supports highlighted firms in the IPO risk information disclosure to mitigate potential adverse outcomes through earnings management. This contributes to the literature and enhances information transparency in the capital market, fostering the healthy development of China’s capital market.

Different studies have been conducted on the relationship between technological capability and firm performance. These studies obtain different values for the relationship, known as heterogeneous results. The purpose of this paper is to analyze the relationship between technological capability and firm performance and its statistical between-study heterogeneity.

In order to analyze all the results from this relationship that were found in the literature, we adopted the literature review with a meta-analytic method. We consulted the Scopus and Web of Science databases, which returned, after the application of inclusion criteria, 23 primary studies with data from 5,882 manufacturing firms.

We observed that technological capability and performance are positively related; however, the results regarding this relationship are heterogeneous. We discovered four possible sources of statistical between-study heterogeneity: (i) the statistical between-study heterogeneity of the variables to measure technological capability and performance; (ii) orientation of the thematic approach – some illustrate the relationship between technological capability and performance using mathematical and theoretical models, while others examine the relationship between technological capability and performance and propose implications pertaining to that relationship; (iii) the source of data for primary studies and (iv) the context in which this relationship is observed.

It is necessary to standardize a set of variables through which technological capability and performance are evaluated so that results and implications can be usefully compared between countries and industrial sectors.

The contribution to knowledge is identifying the statistical between-study heterogeneity on the relationship between technological capabilities and firm performance, as well as its potential sources.

Prior research seldom explores the different structures of marketing presence in the top management team (MPTMT) and their impact on new product performance. In this paper, we distinguish among three structures of MPTMT: (1) a dedicated MPTMT; (2) a joint marketing and sales MPTMT; and (3) a joint marketing and other operations MPTMT. We then examine how these three structures of MPTMT are related to cross-functional integration in NPD and, subsequently, new product performance.

Path analysis is used to test the model using data collected from 139 U.S. manufacturing firms. We conducted two rounds of survey data collection (with a one-year gap) to assess the potential effect of common method variance.

The results show that, compared with no MPTMT, all MPTMT structures positively affect cross-functional integration in NPD, which, in turn, enhances new product performance. However, joint MPTMT structures have a greater impact than a dedicated MPTMT. Our moderation analysis also reveals that as TMT heterogeneity increases, the effect of dedicated MPTMT diminishes, but the effects of the other two joint structures remain positive and stable.

The model could include alternative mediating organizational processes and performance outcomes.

The findings provide managers with insight on how to configure and leverage marketing influence in the upper echelons in both SMEs and large firms.

The findings of this study highlight the importance of delineating MPTMT structures, understanding how they create value, and specifying their boundary conditions.

The study investigates persistence of individuals' labour market activity with a focus on examining whether and to what extent there is genuine state dependence in six labour market states: not-in-labour-force, unemployment, self-employment, casual employment, fixed term contracts, and ongoing employment, and how the persistence and genuine state dependence of the labour market states change with education levels.

A dynamic multinomial logit model that accounts for observed and unobserved individual heterogeneity is estimated, using the first 19 waves of the Household, Income, and Labour Dynamics in Australia Survey.

While observed and unobserved individual heterogeneity plays an important role in the persistence of each of the labour market states examined, genuine state dependence is found to be present for all the states. It is also found that the persistence and genuine state dependence of unemployment is larger among those with a low education attainment than among those with higher education.

The existence of genuine state dependence of labour market states calls for early interventions to prevent people from losing jobs.

Earlier studies often focus on persistence of a particular labour market state such as unemployment, while this study examines the persistence simultaneously of six labour market states.