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Drawing on the resource-based view (RBV), this study investigates how tax planning affects the likelihood of financial default in different stages of the corporate life cycle.

Collecting a large sample of US firms between 1989 and 2016, hypotheses are tested using a hazard model. Several robustness and endogeneity checks corroborate the main findings.

The results show that tax-planning firms are less likely to default in the introduction and decline stages, while they are more likely to default in the growth and maturity stages. The findings suggest that introductory and declining firms use cash resources obtained from tax planning efficiently to meet their needs and acquire other useful resources. In growing and mature firms, tax aggressiveness generates unnecessary slack resources, weakens managerial discipline and increases reputational risks.

The results shed light on the benefits and costs associated with tax planning throughout firms' life cycle, holding great significance for managers, investors, lenders and other stakeholders.

This study contributes to the literature that examines resource management at different life cycle stages by showing that cash resources from tax planning are managed in distinctive ways in each life cycle stage, having a varied impact on the likelihood of default. The authors shed light on underexplored cash resources. Furthermore, this study shows the potential linkages between the agency theory and RBV.

The purpose of this paper is to investigate the value relevance of Research and development (R&D) and free cash flow (FCF) in an efficient investment setup. Most importantly, this paper examines whether the value relevance of R&D and FCF is associated with life cycle stages. Furthermore, this paper reports whether the market response to R&D and FCF is different in competitive market as compared to the concentrated market.

The analysis is based on the Ohlson (1995) model for the determination of value relevance of earnings and book value. Capitalized R&D and FCF data comprising of the Chinese A-listed firms from the year 2008 to 2016 are selected for this study. Following Anthony and Ramesh (1992), the authors divided the firm life cycle into different stages. HHI index is used to measure the product market competition.

The main result shows that R&D and FCF are value relevant in Chinese A-listed firms. The impact of R&D and FCF on the value relevance of earnings and book value is also positive and significant. The findings of the effect of R&D and FCF on the value relevance of accounting information signify that the information content (R²=0.46) of the mature stage is higher than that of the growth and stagnant stage. The explanatory power measured by R² value for competitive industries (0.47) is much higher than the concentrated industries (0.33).

Despite taking into account all the possible available variables, there are few limitations of the study. This study only studies the effect of EPS, BPS, R&D and FCF on the value relevance of accounting information. Other determinant such as size, growth, leverage and firm age is ignored. Since the R&D expenditure is discretionary, therefore the findings cannot be generalized to all the sectors. A sector wise comparative study can be done in future, to understand the differences in the information contents of R&D and FCF. Also, the tax effect of R&D is ignored in this study. For future call, the value relevance of tax effect on R&D can be explored.

The investors can now determine the present value of all the future cash flows of investing activities. The results of the study are significant for the Chinese investors who should incorporate the R&D and FCF along with investment efficiency. The investors should keep in mind the life cycle stage while investing in a certain stock. The competitive markets have more information content than the concentrated markets. The corporate managers can benefit from this study while issuing new shares. The market responds positively to the stock having investment efficient R&D and FCF investment. For the policy implication perspective, the security market regulator should devise the effective pro-effective product market regulations.

The contribution of this study is manifold. First, according to the authors’ knowledge, this is the first study that incorporates investment efficiency with R&D and FCF and explores its effect on the value relevance of accounting information. Second, the impact of R&D on the value relevance is studied by numerous researchers (Lev and Sougiannis, 1996; Han and Manry, 2004). Similarly, FCF-agency cost effect has also been investigated by (Rahman and Mohd-Saleh, 2008; Chen et al., 2012) but the value relevance of R&D and FCF during different life cycle stages still needs to be answered. Finally, this study also tries to answers the question if the market response to R&D and FCF is different in a competitive market as compared to the concentrated market.

Innovation ecosystems can emerge and grow organically, but the process can also be managed through conscious intervention. Therefore, this study observes different motivations and expectations for each group of actors. The lack of alignment between actors could have a negative influence on the development of innovation ecosystems. This study aims to analyze the coordination strategies of the actors throughout the life cycle of innovation ecosystems.

This study develops and proposes a model for coordinating innovation ecosystems based on the theoretical backgrounds of the ecosystem life cycle and ecosystem coordination.

This study argues that each stage of an innovation ecosystem’s life cycle – inception, launching, growth and maturity – demands different coordination strategies. Initially, networks are simpler and thus the coordination issues are less difficult. However, as the ecosystem evolves and the complexity of the networks increases, a more sophisticated strategy, such as orchestration or choreography, is needed.

This is a theoretical study that recommends further research to test this model.

The understanding of coordination and stages of the life cycle of an innovation ecosystem can guide actors in the design of strategies for developing of ecosystems.

The proposed framework could support strategies to engage civil society in actions to develop innovation ecosystems.

This study presents a framework to understand the coordination strategies better, considering the stages of an innovation ecosystem’s life cycle.

The real estate industry has experienced frequent changes in corporate executives in recent years. A total of 147 A-share listed firms witnessed a total of 191 corporate executives' departure. This wave of corporate executive departures is significantly different from previous waves. This study aims to examine whether industry evolution influence the characteristics of corporate executives? If so, then how?

Drawing on upper echelons theory, this study analyzed the effects of industry life cycle on the characteristics of corporate executives. The data of A-share listed companies in the textile, real estate and computer industries in China from 1992 to 2014 were collected.

There are significant differences in the characteristics of corporate executives that match the life cycles of different industries. Companies at the growth stage in the life cycle of an industry were more likely to select and appoint younger corporate executives with political capital, peripheral functions and output functions, whereas companies at the maturity stage were more likely to select and appoint older corporate executives with throughput functions.

By using the upper echelons theory as a starting point, this study analyzed the effects of industry life cycle on corporate executive's characteristics. The research findings offer theoretical implications for the upper echelons theory and provide managerial implications.

The purpose of this article is to present a systematic review of scientific production on career stages in the last decade (2011–2020). More specifically, it seeks to understand the methodological approaches, how career stages have been operationalized in research in the Management field, and the main results of these researches.

The authors searched articles about career stages on the Web of Science database published between 2011 and 2020. The final portfolio for the systematic review included 20 article based on pre-established criteria for the selection.

The results present an overview of these articles, as well as the methodological approaches used. The authors confirmed that there is no consensus on the operationalization of the career stage. Five topics associated with career stages were discussed: workers' attitudes and behaviors; training and mentoring; intentions; perception of success and work-life balance; and work values.

The authors found no other studies concerning the review of scientific production on career stages and divergences in the operationalization of the theme. However, considering the large number of research studies that deal with careers and their stages, it is relevant to discuss how the career stages can be operationalized and whether their operationalization is valid.

Through this research study, the authors found that digital thread has made significant progress in the life cycle management of the US Air Force. The authors hope that by reviewing similar studies in the aerospace field, the meaning of digital thread can be summarized and applied to a wider range of fields. In addition, theoretically, the definition of digital twin and digital thread are not unified. The authors hope that the comparison of digital thread and digital twin will better enable scholars to distinguish between the two concepts. Besides, the authors are also looking forward that more people will realize the significance of digital thread and carry out future research.

Complete research about digital thread and the relevant concept of the digital twin is conducted. First, by searching in Google Scholar with the keyword “digital thread”, the authors filter results and save literature with high relevance to digital thread. The authors also track these papers’ references for more paper of digital thread and digital twin. After removing the duplicate and low-relevance literature, 72 digital thread-related literature studies are saved and further analyzed from the perspective of time development, application field and research directions.

Digital thread application in industries other than the aviation manufacturing industry is still relatively few, and the research on the application of digital thread in real industrial scenarios is mainly at the stage of framework design and design-side decision optimization. In addition, the digital thread needs a new management mechanism and organizational structure to realize landing. The new management mechanism and the process can adapt to the whole life cycle management process based on the digital thread, manage the data security and data update, and promote the digital thread to play a better effect on the organizational management.

Based on a review of digital thread, future research directions and usage suggestions are given. The fault diagnosis of high-speed train bogie as an example shows the effectiveness of the method and also partially demonstrates the advantages and effects brought by the digital thread connecting the data models at various stages.

This paper first investigates and analyzes the theoretical connotation and research progress of digital thread and gives a complete definition of digital thread from the perspective of the combination of digital thread and digital twins. Next, the research process of digital thread is reviewed, and the application fields, research directions and achievements in recent years are summarized. Finally, taking the fault diagnosis of high-speed train bogie as an example partially demonstrates the advantages and effects brought by the digital thread connecting the data models at various stages.

While Australia has continued to invest in polices and strategies aimed at improving rural health service provision, many communities still confront a disproportionate share of the rural workforce shortage. The NSW Rural Doctors Network (RDN) contributes its perspectives about the importance of a whole of life career and the meandering stream concept to support the retention of health professionals rurally. We unpack these concepts and examine how they bring to light a new and useful approach to addressing rural workforce challenges and potentially contribute to building a stronger integrated care approach.

The approach used involved tapping into RDN's 30-years of experience in recruitment and retention of remote and rural health professionals, combined with insights from relevant existing and emerging evidence.

We suggest that reframing retention to consider a life stage approach to career will guide more effective targeting of rural health policies, workforce planning, collaborative approaches and allocation of incentives. We posit that an understanding and acceptance of modern lifestyles and career pathways, and a celebration of career commitment to serving rural communities, is necessary for successful recruitment and retention of Australia's future rural health workforce beyond the training pipeline.

We outline and visually represent RDN's meandering stream approach to building and retaining a capable rural health workforce through addressing life cycle and workforce level needs. This perspective paper draws on RDN's direct experience in the field.

This study aims to systematise the links between firms’ strategies (corporate and business) and the cluster dynamics (through the cluster life cycle [CLC] perspective) and propose an integrative framework bridging firms’ strategic behaviour and cluster dynamics (CLC).

The methodology used is an integrative literature review, which provides a distinctive form of research.

The study identifies several links between firms’ strategies (corporate and business) and the cluster dynamics (CLC), namely: (1) firms’ strategies as a triggering factor of cluster evolution; (2) firms’ strategies and path's decline; (3) firms’ strategies and cluster’s renewal; (4) resilience strategies and the cluster life cycle; and (5) cluster’s features and firms’ strategies.

This study contributes to developing strategic management theory and cluster theory by bridging firms' strategies and cluster dynamics (CLC). It proposes a new conceptualisation of the impact of cluster dynamics on firms' strategic choices – firstly, it proposes a specific approach to identify the CLC; and secondly, it develops an integrative framework model that relates firms' strategies and each stage of the CLC. These are theoretical tools relevant for further advancements in this area of research, as they can be applied in studies of different clusters for validation, something that was not done.

The integrative framework is expected to be helpful to company managers, allowing them to design better strategies that account for dynamic cluster environments.

This study aims to fill this gap in the literature by systematising the links between firms' strategies (corporate and business) and the cluster dynamics (CLC).

The purpose of this study is to explore at what stage of a company’s life cycle the theory of market timing has explained debt. Drawing on a unified conceptual framework of market timing theory, the authors scrutinize the impact of life cycle and ownership structure on the market condition.

Based on a sample of 24 Tunisian companies listed on the stock exchange and 100 French firms listed on the CAC All-Tradable on a 10-year period, this paper grounded the market timing theory and attempted to clear the relation between ownership structure, life cycle of the firm and market timing theory by statistical analysis.

The findings of panel data modeling indicate that when the life cycle was used as an explanatory variable, it was found that the variable reflecting the market timing is not significant in either context; it means that no significant support is found in the theory of market timing in both countries. Whereas when the life cycle was used as a dummy variable, it was found that the life cycle has an impact on debt only in the Tunisian context.

This study has several important implications for researchers and practitioners. The findings reported here clarify the strength of the impact of life cycle on the market timing, when it explains the debt in the two contexts and the impact of ownership structure such as the managerial ownership and concentration of capital on debt.

This study contributes to examine the theory of debt in different phases of life cycle. Focused on the case of Tunisian and French firms, this study is unique and valuable.

This paper investigates whether career capital (CC) development abroad, expatriate type, career type and career stage affect expatriates' career success in terms of perceived marketability and the number of promotions.

The study presents findings from a 2020 follow-up study among 327 expatriates, including assigned expatriates (AEs) (n = 117) and self-initiated expatriates (SIEs) (n = 220), who worked abroad in 2015 and 2016. Among that group, 186 had continued their international career, while 141 had repatriated. Structural equation modeling with robust maximum likelihood estimation was used to test this study's hypotheses. MPlus 8.6 software supported the analysis.

The study outlines that CC developed abroad positively impacts perceived marketability and the number of promotions. Second, repatriates reported a greater degree of perceived marketability than those continuing an international career. Career type did not predict the number of promotions. The expatriate type did not influence any of the career success measures. Finally, expatriates in their late-career stage did not achieve a similar level of career success as those in other career stages.

All the expatriates were university-educated Finnish engineers and business professionals, and the career benefits of expatriation could differ for different sample groups. The study calls for more context-sensitive global careers research. The findings have positive implications for self-guided career actors considering working abroad. Organizations could focus more of their global talent attraction, management and career efforts on SIEs.

To analyze the impacts of these four antecedents on the career success of expatriates, the authors cooperated with two Finnish labor unions in 2020 to explore the careers of 327 expatriates, having surveyed the same group in 2015/2016. Such follow-up studies are not very common in expatriation research since it is difficult to keep track of expatriates who change locations and employers.