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Based on the density dependence theory, this paper attempts to explore how two types of interdependence among firms located in the same national high-tech zones (NHTZs) – mutualism and competition – affect entrepreneurship in the NHTZs. The authors suggest that increasing firm density can help enhance legitimacy and form mutual networks. However, as the competition becomes fierce, the above positive relationship will weaken when the firm density exceeds a certain level. In addition, the authors are interested in whether the age of NHTZs would affect their sensitivity to legitimacy and competition and whether firm density affects entrepreneurship.

This article formulates two hypotheses from the theoretical deduction. The hypotheses are examined using the ordinary least squares (OLS) regression with a unique, unbalanced panel dataset of Chinese NHTZs spanning from 2014 to 2021. Considering potential endogeneity risk among the variables, the authors attempt to lag variables and ultimately find the results are still robust.

Drawing upon the density dependence theory, the empirical results show firm density is conducive to promoting entrepreneurship, while the positive relationship between community density and NHTZs' entrepreneurship gradually weakens as the firm density surpasses a certain level. The dynamics between mutualism and competition have different impacts on NHTZs' entrepreneurship. In addition, the results demonstrate that the linkage between firm interdependence and entrepreneurship is stronger for younger NHTZs. Firm density has an impact on entrepreneurship through legitimacy and excessive competition effects.

On the one hand, the research period of this paper is 2014–2021, as the China Torch Statistical Yearbook only started to publish operating revenues in 2014, so the data period of this paper is relatively short. More research can be done in the future when more data is disclosed. On the other hand, the qualitative analysis cannot be conducted because of the limited data and materials. In future research, the qualitative analysis of entrepreneurial activities in NHTZs, such as questionnaires or case studies, needs to be supplemented, which will be an interesting direction.

Most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs.

Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs.

First, this paper provides new evidence on how agglomeration affects entrepreneurship from an ecological perspective with the help of mutualism and competition interdependence. Most studies have explored the role of agglomeration in entrepreneurship, focussing on social networks, knowledge spillovers or resource endowments (Acs et al., 2013; Capozza et al., 2018; Yu, 2020). Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs. Second, the emphasis of science parks has been primarily on qualitative or case studies (Salvador et al., 2013; Guo and Verdini, 2015; Xie et al., 2018). We have diversified the quantitative research between agglomeration and entrepreneurship by using panel data from Chinese NHTZs from 2014 to 2021. Third, most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs. Finally, this paper meticulously investigates the profound influence and underlying mechanisms of firm density within NHTZs on entrepreneurship. It discerns two distinct mechanisms at play: the legitimacy effect and the impact of excessive competition resulting from firm density. This comprehensive analysis significantly contributes to our comprehension of the intricate interplay between firm density and entrepreneurship, shedding light on the dynamics of competition and mutual benefits.

The purpose of this paper is to explore leadership succession in families in business. Although there is a vast amount of research on leadership succession, no attempt has been made to understand this phenomenon by using an intergenerational learning approach. By applying the Double ABC–X model, the authors discuss how resilience is developed through intergenerational learning during family leadership succession in business.

Based on a single case, the authors define pre- and post-event parameters of the business family under study and use the Double ABC–X Model as an analytical framework. Individual and pair interviews, as well as a family firm workshop, were undertaken following an action research approach using multiple interventions. The qualitative data were collected by reflective journals, field notes and observation protocols. Finally, the authors analyze the data according to a circular deconstruction strategy.

The authors find specific pre-event stressor parameters related to mutual mistrust, independent decision making and non-strategic transmission of power, knowledge and responsibility from predecessor to successor. The intervention based on the intergenerational approach during the post-crisis phase focuses on problem solving and coping within the new situation of co-habitation among the two generations. The intergenerational learning approach based on pile-up of demands, adaptive resources and perception is the source of family adaptation. Additionally, the power of the narrative to reflect past events and project the future seems to the point where the family starts developing resilience.

The way family businesses deal with critical and stressful events during leadership succession may lead to intergenerational learning, which is a source of resilient families. The authors apply the Double ABC–X model to understand family leadership succession in business and further develop it to explain how families develop resilience.

This study aims to explore the scientific research progress in the field of “Rural Livelihood” from 1991 to 2022.

A total of 2,122 documents were extracted from the Web of Science Core Collection using the key terms “Rural Livelihood” OR “Rural Livelihoods” in the “Title-Abstract-Keyword” field. The statistical analysis was performed through VOSviewer, Bibliometrix, Biblioshiney open-source package of R language environment, and MS Office software.

The results show that the first research article related to the field of rural livelihood was published in 1991, and the rapid growth in the publications of rural livelihood was observed since 2000, with a positive annual growth rate of 14.87%. Shackleton CM (n = 30 articles) and Belcher B (n = 1235 citations) are the most productive and highly cited authors in the field of rural livelihood, respectively. World Development is the most prolific and dominant journal, followed by Sustainability and Land Use Policy. The citation analysis disclosed that “Capitals and capabilities: a framework for analysing peasant viability, rural livelihoods and poverty” is the most cited research paper published in the field of rural livelihood by Anthony Bebbington. University of Copenhagen, Wageningen University and Rhodes University emerged as the topmost organizations engaged in rural livelihood research. The USA and the UK are the most productive and cited countries in rural livelihood. The keyword analysis revealed that most of the research published in the field of rural livelihood has focussed on rural livelihoods, management, conservation, poverty, strategies, climate change, etc.; however, the least emphasis is given on the subjects like food security, income diversification, biodiversity, deforestation, soil fertility management, bio-economy and environmental intervention. The thematic evolution reflects that the field of rural livelihood has been extensively researched and has undergone many dimensions, such as agriculture, management, conservation, climate change, households, policy and biodiversity.

The study’s findings provide an insight into global research trends, latest advances, hot issues, leading topics, and the thematic evolution of rural livelihood research over the last 31 years approximately. This study is quite useful to researchers and stakeholders to obtain rigorous bibliographic knowledge on literature related to the topic and work accordingly for R&D activities.

Considering the substantial benefits derived from the use of Building Information Modeling (BIM) in construction projects, governments and its related sectors have introduced mandatory policies requiring the use of BIM. However, little is known about the impact of mandatory policies on BIM-based project performance. Therefore, the purpose of this paper is to provide a systematical understanding on the impact of policy interventions on the implementation practice of innovative technologies.

This paper utilizes the propensity score matching and difference in differences (PSM-DID) method to investigate the impact of policy interventions on BIM-based project performance. Using the panel data collected from 2015 to 2021 in the Hong Kong construction industry, this paper explores the impact of the first mandatory BIM policy on the BIM-based project performance of three key stakeholders.

The subjective BIM performance and BIM return on investment (ROI) have significantly improved after implementing the mandatory BIM policy. The promotion effect of mandatory BIM policy on BIM-based project performance gradually increases over time. Moreover, the promotion effect of mandatory BIM policy on BIM performance shows significant heterogeneity for different stakeholders and organizations of different sizes.

This study examined the impact of policy interventions on BIM-based project performance. The research findings can provide a holistic understanding of the potential implications of innovative mandatory policy in performance improvement and offer some constructive suggestions to policymakers and industry practitioners to promote the penetration of BIM in the construction industry.

Modular integrated construction (MiC) is an innovative and effective manufacturing-based method of construction that has become the mainstream development direction of projects in Hong Kong (HK). However, large-scale promotion of MiC practice still needs efforts. A pressing concern is that the impact of relevant policies on stakeholders during project implementation is rarely explored in depth. Therefore, to fill the research gap, this study aims to investigate the influence of policies on stakeholders to drive the successful implementation of MiC in HK.

This study uses a strategy of multiple methods. First, a comprehensively literature review and survey were adopted to identify critical policies and stakeholders. Second, semi-structured interviews with 28 experts were conducted to quantify their relationships. Third, three policy–stakeholder networks at initiation, planning and design and construction stages were established using social network analysis.

Environmental protection policy, COVID-19 pandemic policy and environmental protection policy and quality acceptance standard for project completion are found to be the most important policies of the three stages, respectively. The HK government and developers are highlighted as prominent stakeholders influencing policy implementation at all three stages. The dynamics of the influence stakeholders receive from critical policies at different stages of MiC are discussed. Valuable recommendations are accordingly proposed to enhance the successful implementation of MiC projects from the perspective of various stakeholders.

This study contributes to the body of knowledge by considering the mediating influence of stakeholders during policy implementation in the MiC uptake, and is valuable in helping policymakers to deeply understand the influence of policies to further forward successful MiC implementation and practicality in HK.

This study aims to develop an improved understanding of the formation of citizens' purchase intention to increase the adoption of prefabricated housing (PH).

An integrative model of the theory of planned behavior (TPB) and norm activation model (NAM) was proposed based on previous studies. To verify the conceptual model, an analysis was conducted after data collection from a questionnaire survey. Lastly, findings were presented by explaining the formation of purchase intention in the egoistic and altruistic contexts. Practical implications were likewise discussed.

Findings manifest that citizens' purchase intention is influenced by egoistic and altruistic cognitions. An effective strategy is to show citizens the pro-environmental features of PH to promote its adoption because they value the environmental performance of housing. Meanwhile, consumers' social fitness also plays an essential role in decision-making, and the dual contradiction in the PH market is revealed.

This study extends the knowledge of psychological decision-making theories in the field of purchase intention toward PH by proposing an integrative framework of TPB and NAM. Results indicate a systematic and comprehensive understanding of consumers' decision-making in the PH domain. Moreover, results of this research contribute to specifying and refining the applicable contexts of TPB and NAM by adding two antecedents: subjective knowledge and environmental concern. This research contributes to the literature by being one of the first to investigate purchase intention toward a high-cost product with invisible technological innovation.

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

This study used yearly data from 432 nonfinancial companies publicly listed firms in six countries (i.e., China, India, Pakistan, Hong Kong, Japan and Singapore) from 2007 to 2020 to investigate the relationship between investor protection and the risk of stock price crashes. The hypothesis was tested using a generalized least square panel regression.

The results suggest that investor protection significantly affects SPCR in Asian economies. Furthermore, the findings show that the stocks of firms whose investors received the best protection were less prone to crash in developed Asian economies. However, in developing Asian economies, the stocks of firms whose investors received the best protection were more prone to crashes.

It provides awareness and understanding of how the level of investor protection affects SPCR, which could be useful for decision-makers and professionals across a spectrum of financial and non-financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This knowledge enables informed decision-making and the formulation of effective policies to manage stock market volatility.

This study appears to be the first of its kind to focus on the link between investor protection and SPCR within the specific context of developed and developing Asian economies.

An increasing number of immersive technologies have been adopted in museum tourism in response to shifting consumer habits in the digital era. In contrast, the authenticity experience of museum tourists relies on genuine relics, the environment and activities, which are ancient or traditional. This raises the question of whether tourists can perceive authenticity in immersive technology-based museum tourism. To address this question, this study aims to explore the impact of virtual reality (VR) attributes on tourists’ presence, tourism authenticity and subsequent behavioral intentions in virtual museums.

Data were collected via scenario-based surveys of participants who had taken virtual museum tours based on VR. A total of 174 effective questionnaires were collected for exploratory factor analysis via SPSS 25. Afterward, 597 questionnaires were obtained for confirmatory factor analysis and path analysis via Mplus 7.4.

A conceptual model of how VR attributes influence presence, authenticity and visit intention was developed. There is a chain intermediary between presence and visit intentions, from original authenticity to interactive authenticity and then to emotional authenticity. Technology readiness and museum familiarity moderate some relationships between VR attributes and presence.

The findings can guide museums in improving the use of VR. For example, managers can improve the quality of virtual systems and adopt various interactive forms to enhance tourists’ participation experiences.

These research findings contribute to the research area of immersive technology adoption, enhance the understanding of tourism authenticity in the new context of technology application and extend the presence-emotion-intention theory.

This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

The study utilized annual data from 432 nonfinancial firms publicly listed in six Asian countries: China, Hong Kong, Japan, Singapore, Pakistan and India. The observation period covers 14 years, from 2007 to 2020. The sample was categorized into three groups: the entire sample and one group each for developing and developed Asian economies. A generalized least squares panel regression method was employed to test the research hypotheses.

The results suggest that long-term debt has a significant negative influence on SPCR in Asian economies, indicating that firms with high long-term debt experience lower future SPCR. Moreover, firm age negatively moderates this relationship, implying that older firms may experience a more pronounced reduction in SPCR due to high long-term debt. Finally, firms in developed Asian economies with high long-term debt are more effective in mitigating the risk of a significant drop in their stock prices than firms in developing Asian economies.

This study contributes to the literature in several ways. To the best of the researcher’s knowledge, this is the first of such efforts to investigate the relationship between debt maturity structure and crash risk in Asia. Additionally, it reveals that long-term debt influences SPCR directly and indirectly in Asia through the moderating role of firm age. Lastly, it is likely one of the first studies by a research team in Asia to compare the nonfinancial markets of developed and developing Asian countries.

Customer referral programs (CRPs) are popular; however, they often generate low referral rates. The authors propose that certain CRP referral tasks may hinder consumers’ referral likelihood. This study aims to explore the effects of referral tasks (communication content and approach) on customers’ referral likelihood on social platforms and the role of self-construal.

This study establishes a theoretical model based on online social platforms and conducts three scenario-based experiments. The authors obtain data from consumers on Sojump platform and test the hypotheses using analysis of variance (ANOVA) analysis and mediation analysis in SPSS. The valid sample sizes for these three experiments are 288, 203 and 214, respectively.

Three experimental studies indicate that communication content and approach have a significant effect on referral likelihood. Furthermore, the effect of communication content on referral likelihood depends on the communication approach. Self-construal plays a moderating role in the effect of communication content and approach on perceived social costs.

CRPs typically involve tasks and rewards; consumers are asked to complete a referral task and then receive a reward. Both tasks and rewards can affect an individual’s willingness to participate; however, existing studies on CRP focus primarily on the reward component. To the best of the authors’ knowledge, this is the first study to systematically investigate the role of referral tasks (communication content and approach) in CRPs. The authors extend the related research by examining the impact of referral tasks on consumers’ willingness to recommend. In addition, this study introduces self-construal into CRPs research.