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This paper aims to investigate how the passage of the Sarbanes Oxley Act (SOX) impacted the likelihood and timing of the decision of leveraged buyout (LBO) firms to exit via initial public offering (IPO) (reverse-LBO) and the mediating effect of reputed private equity (PE) firms.

The sample comprises firms that went private via LBO between 1990 and 2018. The authors use logistic and ordinary least square regression models to compare the effect of SOX on the re-listing decision and the time taken to re-list.

LBO firms were less likely to exit via public offering after SOX, and the time from LBO to IPO was significantly longer for exiting firms post-SOX. PE firm reputation partially reversed the reluctance to exit via IPO and shortened the time to exit.

The primary focus is RLBOs; the authors do not directly examine other methods of LBO exit. The findings have policy implications for unintended impacts of SOX. Despite the benefits of increasing transparency and protecting investors, SOX reduced the likelihood of going public and increased the time to IPO, potentially reducing product market competition.

RLBOs present a unique experimental setting as the authors can test the impact of SOX on both the likelihood and time to go public, whereas prior literature using first-time IPO samples are able to test only the likelihood. The authors also show that the reputation of the advising PE firm attenuates the reluctance and time taken for RLBOs to re-list. The authors are, thus, able to provide a new perspective on the impact of SOX on the going public decision.

This study aims to extend the research in the field of external investments in family firms. It contributes to the literature by analyzing the drivers of the family firm owner-managers selling a minority stake to a strategic investor. This type of external investment might be of great interest to family firms because the family firm owner-managers can secure control over the firm and preserve socioemotional wealth while simultaneously generating additional financing and gaining strategic and managerial know-how. Likewise, minority investments in family firms might also be of high interest to strategic investors, thus enabling close collaborations (e.g. in R&D, purchasing and sales) with minor equity investments.

This study tests the hypotheses using a vignette study leveraging 327 observations from family firm owner-managers.

Based on the socioemotional wealth perspective, this study hypothesizes that the degree of family prominence, the degree of employee orientation and pure family management influence the willingness to sell. In addition, this study hypothesizes that the moderating effect of a below-average financial performance weakens the abovementioned direct effects. This study finds support for most hypotheses.

This study extends the research in the field of external investments in family firms. It contributes to the literature by analyzing the drivers of the family firm owner-managers selling a minority stake to a strategic investor.

This study aims to investigate the factors influencing the adoption of data analytics in performance management. By examining the role of organizational and environmental contexts, this study contributes to the existing literature by proposing a novel and detailed technology-organization-environment (TOE) model for the complex interplay between firm characteristics and the adoption of data analytics. The results offer valuable insights and practical implications for organizations seeking to leverage data analytics for effective performance management.

The research draws upon a data set encompassing over 21,869 companies operating across all European Union member states. A multilevel logistic regression model was developed to evaluate the influence of organizational and environmental factors on the likelihood of adopting performance analytics in organizations.

The findings indicate that the lack of awareness of the benefits of data analytics and its practical application to address specific business challenges is a significant barrier to its adoption. Organizational contexts, such as variable-pay systems, employee training, hierarchical structures and frequency of monetary rewards, also influence the adoption of data analytics.

The study informs managers about the strategic role of data analytics capabilities in performance management for improved business intelligence and driving data culture.

The study helps managers understand the strategic role of data analytics capabilities in performance management, leading to improved business intelligence and fostering a data-driven culture in five key areas: structural alignment, strategic decision-making, resource allocation, performance improvement and change management.

The study advances the TOE theory, making it a more detailed and complete framework, particularly applicable to the adoption of performance analytics. It identifies the main factors of adoption that play a crucial role in this process.

The case was developed from secondary sources and interviews with a security analyst. The secondary sources include company annual reports, news reports, analyst reports, industry reports, company websites, stock exchange websites and databases such as Bloomberg and CMIE Prowess.

Increasing competition in product and capital markets has put tremendous pressure on managers to become more cost competitive. To address their firms' uncompetitive cost structures, managers may have to consider dramatic restructuring of their businesses. During 2014–2017, Tata Steel Ltd (TSL) UK considered a series of divestitures and a merger plan to nurse the company back to health. The case considers the economics of the restructuring plan. The case is designed to help students analyze a corporate downsizing program undertaken by a large Indian company in the UK and to highlight the dynamic role of the CFO and governance issues in family firms. It introduces students to issues surrounding a typical restructuring and provides students a platform to practice the estimation of value creation in a restructuring exercise. While some cases on corporate restructuring in the context of developed economies are available, there are very few cases written in an emerging market context. This case bridges that gap. TSL presents a unique opportunity to study corporate restructuring necessitated by a failed cross-border acquisition. It illustrates the potential for value loss in large, cross-border acquisitions. It shows how managerial hubris can prompt family firm owners to overbid in acquisitions and create legacy hot spots. In addition, the case can be used to discuss the causes of governance failures such as weak institutional monitoring and poor legal enforcement in emerging markets that could potentially harm minority shareholders.

The case was developed from secondary sources and interviews with a security analyst. The secondary sources include company annual reports, news reports, analyst reports, industry reports, company websites, stock exchange websites and databases such as Bloomberg and CMIE Prowess.

Financial problems of football clubs during economic crises (such as COVID-19 pandemic) highlight the necessity of achieving economic sustainability. In addition, the economic sustainability of football clubs is accepted as a principle of the development of sports business. Therefore, it is reasonable to conduct a study with the aim of examining economic sustainability in the field of sports club management.

The present study adopted a qualitative approach to research and used semi-structured interviews in order to develop a framework for the economic sustainability of football clubs. A total of 13 members of football clubs in the Iranian premier league participated in this study.

The findings highlighted the fact that a number of factors, including media and social networks, entrepreneurship and development of club business, commercialization of the club, privatization, investment and ownership, strategic communication plan, financial management and management instability, promoted the economic sustainability of football clubs and improved their financial performance.

This study highlighted the importance of the changes in the structure of football clubs and the strategic plans for promoting entrepreneurship and commercialization. Moreover, it underlined the major role of the environmental and management components of football clubs in their financial sustainability.

The purpose of this paper is to explore the determinants of entrepreneurs’ subjective social status perception (SSP) on firm international behaviors based on the upper echelons theory and social class theory.

To test the hypotheses, the authors studied a large sample of 10,823 small- and medium-sized private Chinese enterprises from 2006 to 2014.

The results showed that entrepreneurs with higher status perception prefer international activity and firms have higher export intensity and intention. In addition, the social capital of entrepreneurs and institutional environment amplifies the positive relationship between SSP and international behavior.

This paper contributes to research on the upper echelon of management and extends our understanding of how managerial social characteristics influence international strategic decision-making. Besides, it also contributes to the emerging stream of social status research in international expansion studies and expand researchers’ limited understanding of the effects of social status in business settings.

This study examines the mediating effect of sustainability disclosure on the relationship between political connections and firm performance from the resource-based view.

The sample of this study was sourced from 888 public companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2017. Path analysis and Sobel tests were used to determine the mediating effect of sustainability disclosure.

The results show that political connections have a positive and significant influence on firm performance. Furthermore, sustainability disclosures mediate the relationship between political connections and firm performance.

In the context of developing countries such as Indonesia, managers can make the existence of parties in politically connected companies as a medium to demonstrate their adherence to external stakeholders through the disclosure of sustainability information.

This study is the first to investigate the mediating effect of sustainability disclosure on the relationship between political connections and firm performance, especially in emerging markets. The parties of the politically connected companies use a social responsibility mechanism as a medium that can sustain their operational sustainability whilst gaining long-term economic benefits.

The purpose of this study was to examine the moderating role of institutional ownership on the relationship between board gender diversity and earnings management (EM) among listed firms in East African Community (EAC) partner states.

The study used a sample of 71 firms listed in the EAC partner states over 2011–2020. Data were handpicked from the individual firm's audited annual financial reports. Based on the results of the Hausman test, the study used the results of the fixed-effect regression model to test the hypotheses. To test the robustness of the results, the study employed an alternative measure of EM and two additional econometric techniques, including the pooled ordinary least squares (OLS) and the system generalized method of moments (GMM).

The empirical findings revealed that female directors improve the board's effectiveness in monitoring managerial roles. Specifically, the results showed a significantly negative relationship between the proportion of women in the corporate board and EM (as measured by discretionary accruals (DAs)). The findings further revealed an inverse relationship between the proportion of institutional ownership and EM. Finally, the results further demonstrated that institutional ownership enhances the role of board gender diversity in mitigating EM among listed firms in the EAC.

The findings of this study may be useful to managers, investors and regulators in assessing the role of institutional ownership and women's participation on corporate boards as a strategy for alleviating unethical manipulation of earnings.

The findings of this study contribute to the growing concern on gender inequality, especially the marginalization of women from the paid labor force and decision-making. The findings highlight the importance of having more women in the corporate board since this may help in mitigating corporate fraud. Similarly, the findings highlight the importance of institutional ownership as a corporate governance (CG) tool.

Previous studies have reported mixed empirical results on whether board gender diversity mitigates EM. To the best of the author's knowledge, this is the first paper to fill the existing gap by exploring whether institutional ownership moderates the relationship between board gender diversity and EM among listed firms in the EAC.

Entrepreneurial support programs, like incubators and accelerators, often offer mentorship to new ventures. However, existing research on mentoring has mainly focused on the entrepreneur's perspective, leaving researchers with limited understanding of why experienced mentors provide support to new ventures. This study aimed to explore mentors' motives in mentor–venture relationships and their impact on the advisory process. It also examined different types of mentors (social and commercial) and their motivations for assisting and supporting new ventures.

The present study utilizes a qualitative research approach to investigate the motivations and mechanisms through which new venture mentors assist founders in their growth and success. In-depth interviews were conducted with 18 mentors supporting both social and commercial ventures. These mentors were selected from ten accelerator and incubator programs situated in Belgium. The interviews aimed to gain insights into the mentors' motivations and their experiences in the role of mentors.

Based on the social exchange theory and the norm of reciprocity, this study identified two main motives of mentors: “gaining back” reflecting mentors’ self-interest in deriving benefits from the relationship and “paying back” representing their altruistic reasons for supporting new ventures. Additionally, the study identified mentor functions that primarily involved providing career-related support to new ventures. Moreover, the research revealed intriguing similarities and differences in the motivations and mentoring functions between mentors of social and commercial ventures.

Future research should explore the evaluation process and criteria used by mentors and new ventures when selecting each other for a productive mentoring relationship. Additionally, further investigation is needed to examine the firm-level impact of various mentoring services on the performance of social and commercial new ventures at different stages of development. Comparing mentor motives and functions across diverse geographical settings would address the limitation of the study and provide a more comprehensive understanding of the topic.

The findings of the study can inform policymakers, accelerator and incubator program managers and new ventures seeking mentors and support initiatives. They can use the insights to design effective mentoring programs that align with the specific needs and motivations of mentors and new ventures. Understanding the different motives and functions of mentors can help in the selection of appropriate mentors who can provide the necessary support and expertise to new ventures.

The study highlights the importance of mentorship in the development of entrepreneurial ecosystems. Accelerator and incubator programs play a crucial role in connecting new ventures with mentors who have the right motivation and expertise, contributing to the growth and success of new ventures and the overall entrepreneurial ecosystem. By identifying both altruistic and self-interest motivations in mentoring relationships, the study emphasizes the dual dimensions that characterize the mentor–venture relationship. This understanding can foster stronger collaborations and reciprocal exchanges between mentors and new ventures, ultimately benefiting both parties.

This research contributes to the entrepreneurship literature by exploring the mentor–new venture relationship from mentors' perspective. It expands the existing research on mentor–protégé relationships, broadening the understanding of mentoring dynamics in different organizational settings. The findings offer insights grounded in social exchange theory and provide directions for future research on mentor–venture relationships, resource exchange and relationship development. The study also holds practical implications for policymakers and program managers involved in fostering mentoring initiatives for new ventures.

At the beginning of the 1990s, the Polish economic situation was extremely difficult: high public debt, shortages, high inflation and more than 8,000 state-owned enterprises (SOEs) waiting to be restructured and/or privatised; along with a GDP per capita lower than in Ukraine.

This chapter provides an overview of the Polish economic transition, and presents the results of this process, taking into account four aspects of the changes, i.e. stabilisation, liberalisation, institutional reforms and privatisation. Special attention is paid to intentionally unfinished privatisation and the still significant role of state-owned enterprises, which have remained important economic agents.

Critical analyses were made of the literature dedicated to the economic transition and of the role and characteristics of state-owned enterprises. Empirical evidence is drawn from original datasets about the scale of SOEs in the contemporary economy and rotations in management and supervisory boards in Polish joint-stock companies.

Despite the unfavourable initial conditions, Poland soon emerged as a leader in economic growth, successfully stabilising, liberalising and privatising its economy. The institutional foundations of a democratic market economy were consistently built, and the applications for membership in the OECD, the EU and NATO were an important driver of institutional reforms. In terms of state institutions, political and economic freedom and quality of governance, Poland is more similar to the G7 countries than to the other post-socialist countries, though the need to maintain high-quality state institutions is still a priority. The significant share of SOE is regarded as a challenge of the Polish economy because state-owned enterprises are an object of rent-seeking by politicians and political parties.