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Information verification is an important factor in commercial valuation practice. Valuers use their professional autonomy to decide on the level of verification required, thereby creating an opportunity for client-related judgement bias in valuation. The purpose of this paper is to assess the manifestation of client attachment risks in information verification.

A case-based questionnaire was used to retrieve data from 290 commercial valuation professionals in the Netherlands, providing a 15 per cent response rate of the Dutch commercial valuation population. Descriptive and inferential statistics have been used to test research hypotheses involving relations between information verification and professional features that may indicate client attachment such as an executive job level and brokerage experience.

The results reveal that valuers acting at partner level within their organisation obtain lower scores on information verification compared to lower-ranked valuers. Also, brokerage experience correlates negatively to information verification of valuation professionals. Both findings have statistical significance.

The results reflect valuers’ reasoning behaviour rather than actual behaviour. Replication of findings through experimental design will contribute to research validity.

Maintaining close client contact in a competitive environment is important for business continuity yet may foster client attachment. The associated downside risks in valuation practice call for higher awareness of (subconscious) client influence and the development of attitudinal scepticism in valuer training programmes.

This paper is one of the few that explore possible sources of valuer judgement bias by relating client-friendly valuer features to a key area of valuation i.e. information verification.

The role of patents for appropriating (capturing) value from innovation investments has for decades been of major interest to both practitioners and academics in innovation management. Many studies have implicitly assumed that firms appropriate value through in-house creation and marketing of innovative products and services, and that the main function of patents is to protect the exclusive sales in product and service markets. We challenge this assumption in light of the variety of business models, strategies and markets now being available, including different organizational and market forms of open innovation.

A conceptual framework and typology of open innovation markets is developed, and the role of patents for appropriation is investigated in these markets among 172 Swedish technology-based firms.

The results show that the importance of patents has a skewed distribution with some firms rating patents very important and with a fat tail of firms rating patents less important. Most importantly, the results indicate that patents are enabling exchange and technology trade in various types of open innovation markets rather than only supporting vertically integrated business models. Thus patents were found to help rather than hinder the use of open innovation markets.

The paper makes two main contributions. First a theoretical reinterpretation of open innovation with a conceptualization of open innovation markets for appropriation of innovation values. Second an empirical illustration of new roles of patents for appropriating innovation values in these markets. The paper in addition illustrates the use of a counterfactual approach to questionnaire surveys, as well as the complementarities between patents and other means of appropriation.

This study aims to provide preliminary information to the investor by determining which indices co-movement, with the data mining method.

In this context, data sets containing daily opening and closing prices between 2001 and 2019 have been created for 11 stock market indexes in the world. The association rule algorithm, one of the data mining techniques, is used in the analysis of the data.

It is observed that the US stock market indices take part in the highest confidence levels between association rules. The XU100 stock index co-movement with both the European stock market indices and the US stock indices. In addition, the Hang Seng Index (HSI) (Hong Kong) takes part in the association rules of all stock market indices.

The important issue for data sets is that the opening/closing values of the same day or the previous day are taken into account according to the open or closed status of other stock market indices by taking the opening time of the stock exchange index to be created. Therefore, data sets are arranged for each stock market index, separately. As a result of this data set arranging process, it is possible to find out co-movements of the stock market indexes. It is proof that the world stock indices have co-movement, and this continues as a cycle.

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.

It was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.

The key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.

Achieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.

This study aims to focus on a key unanswered question about how digitalization and the knowledge processes it enables affect firms’ strategies in the international arena.

The authors conduct a systematic literature review of relevant theoretical and empirical studies covering over 20 years of research (from 2000 to 2023) and including 73 journal papers.

This review allows us to highlight a relationship between firms’ international strategies and the knowledge processes enabled by applying digital technologies. Specifically, the authors discuss the characteristics of patterns of knowledge flows and knowledge processes (their origin, the type of knowledge they carry on and their directionality) as determinants for the emergence of diverse international strategies embraced by single firms or by populations of firms within ecosystems, networks, global value chains or alliances.

Despite digital technologies constituting important antecedents and critical factors for the internationalization process, and international businesses in general, and operating cross borders implies the enactment of highly knowledge-intensive processes, current literature still fails to provide a holistic picture of how firms strategically use what they know and seek out what they do not know in the international environment, using the affordances of digital technologies.

This paper aims to examine the change of institutional logics in actors’ practices within crowdfunding platforms, seen as open collaborative ecosystems.

The research follows an abductive approach, wherein data collection and analysis, and the search for complementary theories, constitute parallel iterative processes. A main case study was carried out, complemented by an expert panel.

Balanced centricity (BC) as the main institutional logic in crowdfunding platforms delineates actors’ practices (aims, resources and behaviors) into four issues: the development of an open and collaborative community; the overcoming of resource limitations; the changing roles of actors; and the co-creation of mutual (societal) value.

This study context limits the results. The COVID-19 crisis put all actors in the medical field into an extreme situation in which they had to maximize their potential to achieve a common aim. Once the crisis has passed, further research should address whether BC is maintained as actors’ institutional logic.

This paper offers a unique perspective on BC as an institutional logic that impacts actors in collaborative open ecosystems.

This study aims to suggest directions for innovation-driving paths for sustainable growth through an in-depth case analysis of a successful Internet of Things (IoT) in small- and medium-sized enterprise (SME) in South Korea. IoT is expected to play a significant role in the future industry 4.0 platform. Yet, little is known about how SMEs in the IoT industry (IoT-SMEs hereafter) pursue innovation in alignment with attributes inherent in the IoT.

This study addresses relatively unexplored key research questions on innovation strategies of IoT-SMEs. To do so, we employ an exploratory research methodology, along with an extensive review of the literature in the areas of the IoT, SMEs innovation and sustainable growth strategy. Specifically, we conduct intensive individual interviews to find IoT inherent innovation attributes and a case study to explore the process of linking these attributes to innovation-driving paths.

The analysis results reveal that there exist disruptive and open innovation attributes in the IoT industry that enable IoT-SMEs to enhance their structure and process related capabilities, to create business models for products and services and to collaborate with external parties in marketing to enter the market. We excavate practical insights into driving innovation based on IoT attributes and suggest enabling paths for pursuing innovation and entering overseas markets for IoT-SMEs.

This study investigates an underexplored significant area of research on the relationship between IoT attributes and innovation paths. The findings provide profound theoretical and practical implications. To the best of the author’s knowledge, it is the first attempt to link disruptive and open IoT attributes to innovation paths of IoT-SMEs. The results provide directions for pursuing effective innovation in responding to the IoT market for sustainable growth.

All firms' business models are based on their interdependencies with other parties in their ecosystems. The Internet of Things (IoT) is beginning to fundamentally disrupt the agri-food industry, forcing the ecosystem to change. When an ecosystem is transforming, the interdependencies among its actors can create friction. Technology providers and core actors should consider these interdependencies as they update their strategies for value creation and capture. The purpose of the present research is to consider what it might take for agri-food firms to capitalize on these interdependencies by moving from traditional business models to business models based on collaboration and open innovation.

The present paper draws on data from four online focus groups that we created to discuss how to co-create the business models agri-food firms need in a constantly changing environment. The paper presents an application of phenomenon-driven research (PDR), an engaged methodology. The study method enables novel pathways to develop and implement innovative solutions. This study draws on the interaction of theory and practice and involves multiple stakeholders with varying roles in the agri-food ecosystem.

The authors found that any open innovation setup in agri-food needs to constantly reconfigure itself to balance the needs of farmers and the needs of the market. This interplay can only support the IoT-enabled ecosystem if continuous interaction and negotiation occur among various stakeholders of the food system. When the farmers' needs and the market's needs are aligned, the space for developing a collaborative and open business model is prepared.

The insights gained from this study inspire action and commitment to common goals when developing collaboration-based business models (CBMs). The paper offers insights for players in the agri-food industry who are considering CBMs in the course of digital transformation.

Weaknesses in the grades and standards system in low-income countries across Sub-Saharan Africa undermine the transparency of agricultural markets. In the Democratic Republic of the Congo (DRC), Ghana and Mozambique rice is predominately sold in open bags and if rice price does not reflect its quality, then inefficiencies may lead to consumer welfare losses. Importantly, it is possible that impoverished communities are priced out of the market due to inflated and inefficient prices. The objective of this study is to examine determinates of rice price by estimating the impact of selected rice quality attributes on rice prices in Democratic Republic of the Congo, Ghana and Mozambique.

We collected 363 rice samples from open air markets in Bukavu (DRC), Nampula (Mozambique) and across Ghana in 2019. Each rice sample was analyzed in a food science lab for the quality attributes: percentage of chalk and brokens, chalk impact, length and length-to-width ratio. We used multiple regression analysis to estimate if and to what extent quality attributes were the drivers of price.

Findings suggest that there are irregularities in the Ghanaian market for broken rice and that regardless of quality, imported rice is priced higher than domestic rice. In the DRC and Mozambique, our results indicate price is driven by length and length-to-width ratio in the former and length-to-width ratio in the latter.

Rice samples were purchased from market vendors and thus consumer preferences for attributes were not revealed.

These results provide valuable insight to policymakers regarding the need for proper labeling and regulation of open bag rice sales in an effort to increase consumer welfare and improve food security.

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces. Emancipating and developing productive forces and achieving common prosperity become the main theme. Wealth supersedes value as the fundamental category of economic analysis.

The theoretical system of socialist political economy with Chinese characteristics cannot proceed from transcendental theories but is problem-oriented. Leading problems involve development stages and research-level problems.

The economic operation analysis is subject to the goal of optimal allocation of resources with micro-level analysis focused on efficiency and macro-level analysis focused on economic growth and macroeconomic stability also known as economic security. The economic development analysis explores the laws of development and related development concepts in compliance with laws of productive forces. The new development concepts i.e. the innovative coordinated green open and shared development drive the innovation of development theory in political economy.

Accordingly, the political economy cannot study the system only, but also needs to study the problems of economic operation and economic development. Therefore, the theoretical system of the political economy tends to encompass three major parts, namely economic system, economic operation and economic development (including foreign economy). The basic economic system analysis needs to understand the relationship between public ownership and non-public ownership, between distribution according to work and factor payments, and between socialism and market economy from the perspective of coexistence theory, thus transforming institutional advantage into governance advantage.