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The number of patents in China has grown rapidly in recent years. The purpose of this paper is to investigate how patents impact economic development in China.

This paper developed an empirical model by using panel data of 42 China's patent-intensive industries to investigate the economic contribution made by Chinese patent-intensive manufacturing industries.

This paper found that the intensity of valid patents is strongly positively related to economic growth. The intensity of yearly added patents presented an inverse U-shaped and a U-shaped curve with the economy made by China’s patent-intensive industries. The correlativity mainly depended on whether the patent intensity converges near the economic indicators. Meanwhile, from the perspective of input–output efficiency, for China’s patent-intensive industries, R&D institutes were overinvested, followed by R&D intensity and R&D staff.

Investigating patent influence on economic development is quite complex research. Existing studies have mainly focused on patent protection in legal systems, but have not provided a definitive answer to what the real influence is. This study sought to narrow this gap from the patent economy perspective.

Although several theoretical concepts imply different determinants of female entrepreneurship, the literature lacks a consensus on their significance. The aim of this paper is to verify how industry specificity influences the gender pay gap and its relation to female entrepreneurship.

The authors distinguish industries based on the gender equality level, measured jointly by two factors: pay gap level and female participation rate. The study has been conducted among 22 European countries with relatively similar institutional backgrounds. The authors carry out the analysis based on the panel regression models, which enable the authors to verify two predefined research questions.

The results of panel regression models indicate that industry specificity plays a significant role in the relation between the pay gap and female entrepreneurship. Generally, it can be concluded that gender pay gap as a measure of gender inequality is dependent on the industry specificity. The dependence is especially visible in the breakdown of male- and female-dominated industries.

The findings are consistent with the assumption that the gender pay gap is a discriminatory factor for women willing to become entrepreneurs in certain industries. The findings of the study may constitute a vital tool in planning to overcome it.

The purpose of this paper is to highlight challenges for service firms communicating Environmental, Social and Governance (ESG) efforts to customers. Specifically, it focuses on the relationship between ESG metrics and reporting and customer perceptions of social innovativeness.

The empirical material comprises three years of data (2018–2020) covering more than 100 firms from three sources: (1) Social Innovation Index (Sii), which is collected as part of the American Innovation Index (Aii), (2) Bloomberg Sustainability Accounting Standards Board (SASB) ESG and (3) Datamaran.

ESG metrics and reporting do not suffice to explain customer perceptions of social innovativeness. Rather, a firm's industry plays the prominent role in affecting these perceptions where service firms are at a disadvantage as customers perceive services as less socially innovative compared to goods.

While ESG metrics and reporting provide important information for investors and regulators, they are not reflected in customers' perceptions of firms' social innovativeness, and services are at a disadvantage relative to goods. Therefore, services researchers and managers must advance their knowledge regarding how to better link ESG metrics and report to customers' perceptions.

The paper offers a first large-scale, cross-industry investigation of how ESG metrics and reporting impact customer perceptions of social innovativeness, leading to a research agenda on communication of ESG.

From the organisational perspective, the authors know that management, including innovation management, becomes less “organised” by bureaucracy and administrative tools, and much more impacted by organisational capabilities, competences and hidden, “soft” routines, bringing innovation and creativity to the core of organisation. The purpose of this paper is to focus on competency sets for open innovation (OI) and is to provide recommendations for OI competency development in companies, linked to the core OI processes.

The research is exploratory and aims at theory-based practical indication combining deductive identification of competency clusters and inductive model development. Thus, the authors apply quantitative methods to data collection and analysis. The authors conducted an extensive literature review on competence challenges with regard to execution of OI, and empirical data analysis based on a large-scale structured industrial survey in Europe (N=264), leading to the development of competency sets for companies. SPSS tools are applied for empirical tests.

The authors develop a generic OI competency model applicable across industries, combined with organisational implications for sustaining OI management capabilities. The research clusters competencies based on the empirical analysis, which addresses the various challenges of OI, leading to recommendations for competency management in an OI context.

The data were collected from one key informant per company. Although the authors made efforts to ensure that this was a senior manager responsible for innovation, the authors cannot exclude some bias in the way that OI activities and related competencies are perceived. Exploratory nature of the research, which calls for a more systematic investigation of the OI activity modes and the OI competencies resulting competency model. In particular, the competencies could be tested on an inter-professional sample of employees with involvement in and/or responsibility for innovation, development, and HR management, as well as on leaders of innovating companies. Third, although significant in size for the analyses undertaken, the sample is not large enough to enable a more fine-tuned analysis of regional differences across Europe in the way that OI is managed through the development and implementation of competencies.

The research contributes to the OI management field with an outlined OI competency profile that can be implemented flexibly and tailored to individual firm’s needs. It brings indications for both further theory building and practice of innovation organisation, especially with regard to human resource development and organisational capability building for OI.

The social implications of the paper result from the contribution to innovation management competency development in OI regimes, which is an important tool for designing contemporary educational programmes, contributes to OI management sophistication in business which is especially important during the economy slowdown and search for new sources of growth and productivity, and supports firms productive engagement in OI ecosystems and collective technology upgrading towards higher societal benefits and stakeholder involvement.

An empirically grounded OI competency model is proposed with an implication to support human resource development for OI. To the best of the authors’ knowledge, there has been no prior attempt to build such a model. The distinguished feature of the research is its extensive European coverage of 35 countries and multinational scope. The empirical validation strategy makes the research extremely relevant for management decisions related to human factors related OI capability development in organisations.

This paper aims to examine the relationship between business process management (BPM) and company performance. The research focuses on the instrumental aspect of core business processes and its controlling activities in small and medium-sized companies (SMEs) to identify the relationship to company performance.

The results presented in this paper are based on a survey of Slovene SMEs. A questionnaire was distributed to 3007 SMEs via e-mail and a response rate of 5.42% was achieved. The financial data of companies over a six year period as derived from the publicly available financial reports of SMEs along with an industry-specific financial risk measure and other financial data were used for the company risk-adjusted performance measures of relative residual income (ROE-r) and risk-adjusted ROE (ROE-a) calculation.

The results show that instrumental aspects of core business process controlling activities are related to risk-adjusted company performance measures ROE-r and ROE-a. Companies with lower ROE-r and ROE-a have been perceived to be more focused on the instrumental aspect of BPM. Presumably due to the small sample, the results of a non-parametric Mann–Whitney U test did not statistically confirm the developed hypothesis: “the instrumental aspect of controlling as a core process management activity has a statistically significant impact on company risk-adjusted performance measures such as ROE-r and ROE-a.” Despite this, the results show a possible negative correlation between risk-adjusted performance measures and BPM, which opens possibilities for further research.

The main limitation of the purposed study model is that the paper have studied only control activities of core business processes and relate it to company risk-adjusted performance measures. The study has been limited by the SME sample and the use of a survey as a research instrument. An additional limitation of the research is the degree of reliability implied by the assumptions of the models used to estimate the required return on equity and risk. Results concern investors, managers and practitioners to start BPM improvement initiatives, to set BPM priority measures and to set priority management decisions and further actions.

This paper presents the unique findings from an investigation of the instrumental aspects of BPM practices and their relationship to company risk-adjusted performance measures in SMEs. This paper developed a measurement instrument for measuring the instrumental aspects of BPM use. An additional original contribution is the use of company risk-adjusted performance measures such as ROE-r and ROE-a, which take into account the required profitability of companies in different industries according to the risk and allows comparable results of companies from different industries. The approach is innovative and interesting as regards researching the factors that affect the profitability of companies that operate in different industries.

The lack of transparency contributes to the growing corruption problem in various spheres of society. This paper aims to analyse the sustainability report disclosures published by Czech companies in 2021 and registered by the Association of Social Sustainability of the Czech Republic.

Based on three hypotheses, the relationships between the level of disclosed anti-corruption information and selected variables related to the corporate environment are tested using content analysis and the Mann–Whitney test.

This paper reveals that Czech firms provide more information if they operate in a higher-risk environment (energy, materials and financial services) or are state-owned (or with a state ownership stake). It also reveals that companies participating in corporate social responsibility (CSR) initiatives (UN Global Compact and Global Reporting Initiative) increase their credibility and social responsibility with more disclosed information.

A limitation of this paper is the smaller number of selected companies matching the chosen criteria. In addition, a certain degree of subjectivity is likely to have manifested in the process of coding the reports and in the use of the content analysis method.

The paper contributes to research that addresses the fight against corruption and CSR issues with a specific study in a small, Central European country and provides new empirical data on the anti-corruption fight problem.

The purpose of this paper is to test the influences of audit committee’s and company’s characteristic on intellectual capital disclosure (ICD) among the LQ45-listed companies in Indonesia Stock Exchange (BEI) between 2013 and 2014.

The paper employed multiple linear regression and saturation sample as the analysis methods.

The findings showed that size of audit committee does not significantly influence ICD; meeting frequency of audit committee positively influences ICD; and company size does not influence ICD positively. On the other hand, profitability does not significantly influence ICD; leverage has negative and significant influence on ICD; and the type of industry does not significantly influence intellectual capital disclosure.

As there are few ICD studies, this research will surely add ICD antecedents to literature.

The purpose of this research work is to examine the financial effect of supply chain disruptions (SCDs) caused by coronavirus disease 2019 (COVID-19) and how the magnitude of such effects depends on event time and space that may moderate the signaling environment for shareholder behaviors during the pandemic.

This study analyses a sample of 206 SCD events attributed to COVID-19 made by 145 publicly traded firms headquartered in 21 countries for a period between 2020 and 2021. Change in shareholder value is estimated by employing a multi-country event study, followed by estimating the differential effect of SCDs due to the pandemic by event time and space.

On average, SCDs due to pandemic decrease shareholder value by −2.16%, which is similar to that of pre-pandemic SCDs (88 events for 2018–2019). This negative market reaction remains unchanged regardless of whether stringency measures of the firm's country become more severe. Supply-side disruptions like shutdowns result in a more negative stock market reaction than demand-side disruptions like price hikes. To shareholder value, firm's upstream or downstream position does not matter, but supply chain complexity serves as a positive signal.

This study provides the first empirical evidence on the financial impact of SCDs induced by COVID-19. Combining with signaling theory and event system theory, this study provides a new boundary condition that explains the impact mechanism of SCDs caused by the pandemic.

Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards meeting or beating analyst earnings expectations (MBE).

The authors use an event study methodology to capture market reactions to MBE.

The authors document a stock return premium for beating analyst forecasts by a wide margin. However, there is no stock return premium for firms that meet or just beat analyst forecasts, suggesting that the market is skeptical of earnings management by these firms. This market underreaction is more pronounced for firms with weak external monitoring. Further analysis shows that meeting or just beating analyst forecasts is indicative of superior future financial performance. The authors do not find firms using earnings management to meet or just beat analyst forecasts.

The authors provide evidence of market underreaction to meeting or just beating analyst forecasts, with the market's over-skepticism of earnings management being a plausible mechanism for this phenomenon.

The findings of this study are informative to researchers, market participants and regulators concerned about the impact of analysts and earnings management and interested in detecting and constraining managers' earnings management.

The authors provide new insights into how the market reacts to MBE by showing that the market appears to focus on using meeting or just beating analyst forecasts as an indicator of earnings management, while it does not detect managed MBE. Meeting or just beating analyst forecasts is commonly used as a proxy for earnings management in the literature. However, the findings suggest that it is a noisy proxy for earnings management.

The authors measure the cost of equity to earnings yield differential for a sample of 2,035 non-financial firms. In a series of Logit and Tobit regressions, the authors examine if the cost of equity to earnings yield differential is related to dividend policy in the manner predicted by agency theory.

Agency theory says a firm's optimal dividend policy is partially determined by the relationship between the earnings yield and the cost of equity capital. When the cost of equity is higher (lower) than the earnings yield, firms are motivated to (not) pay dividends as this reduces the cost of capital and holding other things constant, increases corporate valuations. The authors test whether managers set dividend policies to maximize the value of the firm.

The study’s findings show that when the cost of equity is higher (lower) than earnings yield, firms are more (less) likely to be dividend payers and the payouts are higher (lower). The results are robust to the inclusion of share repurchases as an alternative to cash distributions. The study’s findings support the cost of equity hypothesis and are consistent with alternative dividend theories.

The study’s findings support the cost of equity hypothesis and are consistent with alternative dividend theories. To the authors’ knowledge, this is the first paper testing the cost of equity hypothesis.