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The purpose of this conceptual paper is to explore the potential of regenerative tourism practices and their influence on destinations and their stakeholders from a community development approach focusing on Nordic lifestyle entrepreneurs. We focus on small and micro-sized enterprises (SMiEs) that conform to the realities of tourism systems in Nordic regions.

We explore how community development can be used as an approach for regenerative tourism and vice versa. Our conceptual paper builds from recent work of the Nordic Regenerative Tourism project, which aims to develop place-based practices for SMiEs that contribute to the regeneration of natural and cultural resources.

Regenerative tourism research should focus on developing tools that aid in capacity sharing and equitable partnerships through a community development approach. However, there is a lack of understanding of the processes of how to implement this in real world practice. More research is needed in developing tools to mobilize Nordic communities, particularly within the countryside to help transform tourism towards a regenerative model. It was found that much of these efforts comes from MSMEs. Therefore, more case studies are needed to understand how and why lifestyle entrepreneurs play in community revitalization efforts and the potential linkages with regenerative tourism management and marketing.

This conceptual paper contributes to the discussion of regenerative tourism and focus on smaller countryside communities within the Nordics. We argue that community development is linked with the concept of regenerative tourism through lifestyle entrepreneurs.

In the swiftly evolving business landscape, environmental, social and governance (ESG) considerations have gained exceptional prominence, as stakeholders increasingly emphasize accountability and sustainability. This study aims to meticulously probe the intricate interplay between ESG factors, financial performance and the distinct corporate governance landscape that characterizes the Nordic region's crucible of proactive societal and environmental commitment.

The authors begin with a data set of 899 Nordic firms across Sweden, Norway, Denmark, Finland and Iceland. Using the Thomson Reuters database, they refine this data set by excluding non-regional headquarters and entities without ESG scores or year-long financial data. This resulted in a focused data set of 1,360 firm-years spanning a decade, forming the foundation for investigating the link between ESG factors and financial performance in Nordic firms.

Drawing upon empirical data, the authors systematically dissect the correlation between specified financial ratios and ESG scores on the bedrock of sustainability evaluation. The findings underscore a partially significant, yet robust relationship between ESG endeavors and financial performance metrics. Furthermore, the intricate interplay of corporate governance dimensions’ reveals intriguing correlations with financial indicators among the surveyed Nordic enterprises. However, the findings also reveal an intricate weave that underscores the ESG and financial performance nexus.

This study addresses stakeholders’ theory and unique positions and contributes to the current discussion on sustainability reporting literature by providing empirical evidence of ESG influences on firm profitability through board characteristics in the specific context of the Nordic region. The sample for this study encompasses firms listed in Nordic countries; thus, the results may not be generalizable to unlisted firms and other countries or regions.

This study suggests that Nordic firms are advanced in reporting ESG in response to diverse stakeholder demands as part of their regular activities. This study provides valuable insights for diverse stakeholders including researchers and regulatory bodies.

This study provides an understanding of stakeholders about the association of ESG and sustainability practices with firm profitability, which might lead to making the world a better place.

While illuminating the multifaceted ESG-financial performance nexus, this study reveals its intricate nature. This complexity accentuates the compelling need for further exploration to decode the exact outcomes and myriad factors contributing to the array of correlations observed. Through this comprehensive inquiry, this research advances the understanding and underscores the pivotal role of a focused investigation. This study seeks to harmonize ESG practices and financial performance seamlessly within the Nordic business realm.

Due to population ageing, the European Union (EU) has adopted active ageing as a guiding principle in labour and retirement policies. Among the strategies for active ageing, age-friendly workplaces play a crucial role. This study compares age-friendly human resource (HR) practices in the Baltic and Nordic countries. The latter are pioneers in active ageing, and as the employment rate of older employees in the Baltics is like that in the Nordic countries, we may assume equally age-friendly workplaces in both regions.

We used the latest CRANET survey data (2021–2022) from 1,452 large firms in seven countries and constructed the fuzzy logic model on age-friendliness at the workplace.

Despite a high employment rate of older individuals in the Baltics, HR practices in these countries fall short of being age-friendly compared to their Nordic counterparts. Larger firms in the Nordic countries excel in every studied aspect, but deficiencies in the Baltics are primarily attributed to the absence of employer-provided health and pension schemes. The usage of early retirement is more frequent in the Nordic countries; however, its conceptualisation as an age-friendly HR practice deserves closer examination. Our findings suggest that the success of active ageing in employment has translated into age-friendly HR practices in larger organisations in the Nordics, but not in the Baltics. It is likely that high employment of older individuals in Estonia, Latvia and Lithuania is a result of the relative income poverty rate.

Our model represents one of the few attempts to utilise fuzzy logic methodology for studying human resource practices and their quantitative evaluation, especially concerning age-friendly workplaces.

This paper aims to focus on the relationship between female leadership and the environmental, social and governance (ESG) performance of firms. Specifically, the study examines if firms with women as chief executive officers (CEOs) and/or board chairpersons have higher environmental and social scores.

The study uses data on publicly listed Nordic firms in a panel regression approach to establish the relationship between female leadership and the environmental and social performance of firms.

The result of this study shows that women have a leadership characteristic that increases the weighted average of environmental (E) and social (S) performance of a firm. In particular, pillar score results indicate a positive relationship between female CEOs and the social scores of a firm but no relationship between a female board chairperson and the environmental or social scores of a firm. This implies that gender-based differences affect the CEO’s success, especially in a firm’s social performance. Further analyses show a more significant impact on the E and S performance when a woman replaces a man as CEO of a firm.

While prior research has explored various aspects of gender diversity in corporate leadership and its potential impact, the focus on the Nordic context in this study provides a unique perspective, given the region’s distinct business environment and societal factors. In addition, by examining the collective influence of female leaders and both female CEOs and board chairpersons separately, this study provides a nuanced understanding of how different leadership roles may impact a firm’s ESG performance.

This paper investigates share price clustering and its determinants across Nasdaq Stockholm, Copenhagen, Helsinki, and Iceland.

This paper investigates share price clustering and its determinants across Nasdaq Stockholm, Copenhagen, Helsinki, and Iceland. Univariate analysis confirms widespread clustering, notably favouring closing prices ending in zero. Multivariate analysis explores the impact of firm size, price level, volatility, and turnover on clustering.

Univariate analysis confirms widespread clustering, notably favouring closing prices ending in zero. Multivariate analysis explores the impact of firm size, price level, volatility, and turnover on clustering. Results reveal pervasive clustering, strengthening with higher prices and turnover but weakening with larger trade volumes, firm size, and smaller tick sizes. These empirical findings support the theoretical expectations of price negotiation and resolution hypotheses.

The observed clustering presents an opportunity for investors to potentially capitalize on this market anomaly and achieve supra-normal returns.

Price clustering, the phenomenon where certain price levels are traded more frequently, challenges the efficient market hypothesis and has been extensively studied in financial markets. However, the Scandinavian stock markets, particularly those in the Nasdaq Nordic Exchange, remain unexplored in this context.

This study explores the effect of language on service satisfaction among Finland-Swedes, a national minority language group in Finland, in the context of early childhood education. Models of public service satisfaction hold standard process and outcome related factors, such as availability and quality, as drivers of the satisfaction. However, although research has shown significant variation in satisfaction between different groups of citizens (race, ethnicity, age etc.), research has largely overlooked group specific factors as explanations for the satisfaction.

A randomized survey experiment with a 2 × 2 × 2 factorial design analyzed the impacts of language, service accessibility, and quality on service satisfaction. The data was analyzed with ANOVA.

The results revealed that language significantly impacts Swedish speakers’ satisfaction, suggesting that for minority groups, language may override typical satisfaction determinants like quality and accessibility. Interestingly, special linguistic needs are relatively more pertinent in low-quality services than in higher-quality ones.

The study shows how group related factors of public service, in our case language, in an important factor explaining satisfaction with the service. The findings have implications for the literature on citizens’ satisfaction with public services with demographic and identity facets, especially in a typical Nordic welfare state.

While extant research has increasingly examined minority entrepreneurs, less attention has been paid to Eastern European immigrant entrepreneurs and the role that marketing agility and risk propensity play in their resilience and survival in Nordic countries. This paper aims to highlight the importance of these factors for Eastern European immigrant entrepreneurs in the developed Nordic economy of Denmark.

This paper adopts the dynamic capabilities view as a theoretical framework and uses a qualitative research approach with interviews as the main data collection method. The empirical sample comprises 12 entrepreneurs originating from Hungary, Slovakia, Latvia, Lithuania and Romania, who operate in Denmark.

The findings show that contrary to prior studies that have highlighted a reliance among the migrant entrepreneurial community on ethnic networks as their dominant target market, Eastern European immigrant entrepreneurs located in Denmark, in contrast, focused on attracting Danish consumers as their target market audience. Leveraging multiple networks was therefore found to be critical to the survival of these immigrant ventures. Additionally, the entrepreneurs' marketing agility, underpinned by their optimistic approach, growth ambitions and passion for entrepreneurship, was found to play a pivotal role in their survival. Finally, despite the stable institutional environment in Denmark and the ease of doing business (both of which are influential factors in shaping the risk propensity and risk perception of entrepreneurs), the authors found immigrant entrepreneurs' risk propensity to be rather low, which was contrary to the expectations.

The current paper is one of the first studies that explicitly analyzes the roles of marketing agility and risk propensity in the resilience and survival of the ventures of relatively skilled immigrant entrepreneurs from Eastern Europe in a developed Nordic economy (Denmark). The paper's findings also challenge the notion associated with immigrant entrepreneurial ventures being primarily focused on ethnic customers or enclaves. The paper also specifies the peculiarities of marketing agility in immigrant entrepreneurial contexts and solidifies the importance of diverse networks in immigrant business survival and development.

The purpose of this paper is to investigate the potential link between Sweden’s high reliance on equity capital financing among small and medium-sized enterprises (SMEs) and its recognition as the most innovative economy in Europe according to the European Innovation Scoreboard (EIS). This paper examines the idea that the high levels of trust within Swedish society can explain why private equity financing is more prevalent among Swedish SMEs.

To test these ideas, the authors use data from the Survey on Access to Finance for Enterprises to measure the private equity reliance of firms. The authors also use the EIS to measure the innovation capacity of nations and various aspects of SMEs’ innovation activities. Finally, societal levels of trust are measured through the World Value Survey.

First, the authors find that European countries with a higher proportion of SMEs relying on equity financing tend to be ranked as more innovative by the EIS. Second, the authors find that the correlation between a nation’s share of SMEs relying on equity financing and their level of innovation activities is marginally stronger for product innovations than for business process innovations. Third, the authors find that countries with higher levels of trust tend to have higher equity capital reliance among SMEs.

This study builds upon previous research on equity capital and SMEs’ innovation activity while introducing new insights into the relationship between societal trust and equity financing.

This paper aims to estimate the price premium for a sea view on room rent in a Nordic context, i.e. where proximity to the sea is not valued for the presence of swimmable beaches and suntanning activities. The analysis also explores regional and seasonal variations in price premiums.

To do so, the study uses information from a Web search of room rents during winter and summer peak seasons. The investigation is based on hotels located along the St. Lawrence River in the Province of Quebec (Canada), where about 40 to 60 km separate both shores. A matching procedure and hedonic pricing models are used to identify the causal impact of a sea view on individual room rents.

Results suggest that the view price premium varies between 0% and 20%. It is relatively stable on the North Shore, but varies highly on the South Shore, where touristic activities are mainly operating in summertime. The estimation suggests a median local economic benefit of about $30.1M/year.

The analysis reveals that a hedonic pricing model might fail to identify causal effects, especially if it does not account for hotel characteristics. A multiple linear regression model does not ensure a causal interpretation if it neglects unobserved characteristics correlated with the view.

The paper proposes a matching identification procedure accounting for spatial confounding to retrieve the causal impact of the view of the sea on hotel room rents. A heterogeneity analysis suggests that view price premium on room rent can vary within seasons but mainly across regions, even for the same amenities.

This study aims to explore how to structure an energy organization to be more agile in the context of digitalization and find the common success factors and challenges the organizations face to transform.

A qualitative multiple-case study of an energy company and an online market company, both from the Nordic countries, was conducted in 2023. Data were collected through in-depth individual interviews with 16 participants.

This research provides valuable insights into the challenges and critical success factors crucial for a successful digital transformation. The study illuminates the interplay between technological advancements and organizational shifts, the adoption of agile methodologies, the importance of inclusive leadership and the integration of autonomous teams in realizing digital transformation goals. The research emphasizes the profound impact of these factors on the transformational journey within organizations. In particular, the adoption of agile methodologies takes on heightened significance in the swiftly evolving business landscape of today, calling for a transition from project-centric approaches to more adaptive and sustainable product-centric models.

The study contributes to the practice and enhanced understanding of organizing business and technology teams in energy companies to achieve fast flow. The analysis and discussion of various empirical findings shed light on the success factors and challenges of digital transformation – issues that many organizations are currently or will likely soon be grappling with. The impact of different organizational structures on agility in an organization has yet to be thoroughly studied.