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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).

This study aims to further develop the CLC stage/path’s identification model that distinguishes between path’s emergence (emergence stage), path’s development (growth stage), path’s sustainment (maturity stage), path’s decline (decline stage) and path’s transformation (renewal stage), and by applying it, define the current stage/path of the Demarcated Douro Region (DDR) cluster. The Port wine industry, which is the dominant industry of the DDR cluster, is at the maturity/decline stage – is the same for the cluster itself?

It is a case study with a longitudinal perspective based on the analysis of the dynamics of the parameters of cluster evolution using available secondary sources (cluster identity/brand; number of firms; number of employees; network; innovation; policies and regulations; and external markets – exports), especially addressing the past decade, that represent the stage of maturity/decline of the cluster’s dominant Port wine industry.

The conclusion is that since the 1990s the Demarcated Douro Region has gone through a “path transformation” where during the following 20 years new “anchors” for the cluster were gradually introduced, such as Doc Douro Wines, new forms of consumption of Port wine, tourism and olive oil. Since 2010 the cluster has entered a growth stage/(new) path’s development, where these “anchors” are in steady growth. The Douro brand is becoming more internationally recognized and established, the number of firms and employees is increasing, the network is restructuring with the creation of cluster-specific official institutions, innovation is especially reflected with increasing heterogeneity through diversification of the clusters into new activities and regulations and policies are supportive for expansion – all these parameters are indicating the rise of the new cycle for the cluster. Thus, the DDR cluster represents an attractive business environment and requires attention from regional policymakers to support the cluster’s development. Especially institutions have been highlighted as internal factors driving clusters growth, European integration as an external factor and firms’ strategies of diversification and internationalization as an appropriate de-locking mechanism for new path’s development.

This research contributes to the CLC theory by further developing and applying a CLC stage/path identification model. It provides a better understanding of the dynamics of the DDR cluster that diverge from its dominant industry life cycle, which is relevant for regional policies and firms’ strategies. This study has its limitations. It provides an exploratory application of the theoretical framework proposed, and consequently, no general conclusions are possible yet. More empirical studies with different clusters in different stages are necessary to test the framework.

These findings are useful to policymakers when designing their policies for cluster development but also for clusters’ entities and actors when making their strategic decisions as it allows based on the verification of the established parameter of CLC to identify its current stage/path of development.

The paper presents a theoretically grounded model for CLC identification and for the first time to the best of the authors’ knowledge applies it to a cluster case – the DDR cluster. This case applies the proposed model and illustrates its usefulness. The model provides the tools for a better understanding of cluster dynamics.

This study, a conceptual paper, aims an answer the question, how significant cluster ambidexterity is for the resilience of individual clusters.

The authors draw up an abductive synopsis of empirical information and relevant theoretical sources. A case study is used to illustrate some of the findings.

The results of the analysis show that the ambidexterity of a cluster can contribute to its resilience when adverse external developments arise. Ambidexterity proves to be simultaneously a common strategy of key cluster actors and a mechanism for coping with critical situations and developments that can be activated by the cluster actors and may – eventually – lead to cluster resilience. While ambidexterity does not guarantee cluster survival, it can contribute significantly to their economic resilience under adverse conditions.

The concept is developed on a limited empirical basis and would need to be tested and deepened by comparing a wide range of case studies from different clusters.

A better understanding of the importance of ambidexterity for the development of industrial clusters contributes to a better fine-tuning of cluster support policies.

Ambidexterity as a concept originating from business administration has so far only been rudimentarily tapped for empirical and theoretical cluster research. The paper identifies and develops a path how this could be accomplished to a greater extent in the future.

This study aims to answer the question of how incumbent firms cultivate dynamic capabilities through knowledge management so that they can efficiently adapt to the changing external environment.

This study adopts a case study approach and collects data through interviews and secondary public information on the lighting industry and two lighting firms in Lin'an, China. It qualitatively examines the challenges and strategic recommendations for incumbent firms in the context of discontinuous technological change from a knowledge management perspective.

Incumbent firms often face a variety of challenges when responding to discontinuous technological change. These challenges include identifying opportunities, overcoming path dependence and dealing with employee resistance to change. To overcome these difficulties, three strategies have been proposed to enhance the dynamic capabilities of incumbent firms through knowledge management: cross-border search helps firms improve their knowledge acquisition capabilities and better understand their environment to identify opportunities; building strategic leadership overcomes path dependence and improves knowledge integration capabilities; organizational learning deepens employees’ understanding of change and enhances organizational knowledge application capabilities.

Previous research attributes a firm's ability to cope with discontinuous technological change solely to its general resources, which weakens the importance of knowledge management in this context. This study emphasizes the importance of knowledge as a crucial strategic resource in developing the essential dynamic capabilities for incumbent firms to cope with discontinuous technological change.

This study provides an in-depth analysis of incumbent firms' coping strategies in the new context of discontinuous technological change and further promotes cross-disciplinary research.

This study provides an in-depth analysis of coping strategies in the new context of discontinuous technological change, furthermore theoretically advancing the interdisciplinary research of firm transformation and knowledge management. Meanwhile, it is crucial to identify the preconditions for cultivating dynamic capabilities, especially from a knowledge-based view, which enhances the depth of knowledge management research.

The below-average innovative capacity of the tourism sector raises the question on the potentials of digital business ecosystems (DBEs) to overcome these shortages at a destination level – especially within a smart city environment. Using the example of the German Capital Berlin, this article aims to discuss both the possibilities and inhibitors of innovative knowledge-creation by building scenarios on one specific design option: the integration of digital deep learning (DL) functionalities and traditional organizational learning (OL) processes.

Using the qualitative GABEK-method, major characteristics of a DBE as resource-, platform- and innovation systems are analyzed toward their interactions with the construction of basic action models (as the basic building blocks of knowledge).

Against the background of the research findings, two scenarios are discussed for future evolution of the Berlin DBE, one building on cultural emulation as a trigger for optimized DL functionalities and one following the idea of cultural engineering supported by DL functionalities. Both scenarios focus specifically on the identified systemic inhibitors of innovative capabilities.

While this study highlights the potential of the GABEK method to analyze mental models, separation of explicit and latent models still remains challenging – so does the reconstruction of higher order mental models which require a combined take on interview techniques in the future.

The resulting scenarios innovatively combine concepts from OL theory with the concept of DBE, thus indicating possible pathways into a tourism future where the limitations of human learning capacities could be compensated through the targeted support of general artificial intelligence (AI).

Based on the density dependence theory, this paper attempts to explore how two types of interdependence among firms located in the same national high-tech zones (NHTZs) – mutualism and competition – affect entrepreneurship in the NHTZs. The authors suggest that increasing firm density can help enhance legitimacy and form mutual networks. However, as the competition becomes fierce, the above positive relationship will weaken when the firm density exceeds a certain level. In addition, the authors are interested in whether the age of NHTZs would affect their sensitivity to legitimacy and competition and whether firm density affects entrepreneurship.

This article formulates two hypotheses from the theoretical deduction. The hypotheses are examined using the ordinary least squares (OLS) regression with a unique, unbalanced panel dataset of Chinese NHTZs spanning from 2014 to 2021. Considering potential endogeneity risk among the variables, the authors attempt to lag variables and ultimately find the results are still robust.

Drawing upon the density dependence theory, the empirical results show firm density is conducive to promoting entrepreneurship, while the positive relationship between community density and NHTZs' entrepreneurship gradually weakens as the firm density surpasses a certain level. The dynamics between mutualism and competition have different impacts on NHTZs' entrepreneurship. In addition, the results demonstrate that the linkage between firm interdependence and entrepreneurship is stronger for younger NHTZs. Firm density has an impact on entrepreneurship through legitimacy and excessive competition effects.

On the one hand, the research period of this paper is 2014–2021, as the China Torch Statistical Yearbook only started to publish operating revenues in 2014, so the data period of this paper is relatively short. More research can be done in the future when more data is disclosed. On the other hand, the qualitative analysis cannot be conducted because of the limited data and materials. In future research, the qualitative analysis of entrepreneurial activities in NHTZs, such as questionnaires or case studies, needs to be supplemented, which will be an interesting direction.

Most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs.

Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs.

First, this paper provides new evidence on how agglomeration affects entrepreneurship from an ecological perspective with the help of mutualism and competition interdependence. Most studies have explored the role of agglomeration in entrepreneurship, focussing on social networks, knowledge spillovers or resource endowments (Acs et al., 2013; Capozza et al., 2018; Yu, 2020). Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs. Second, the emphasis of science parks has been primarily on qualitative or case studies (Salvador et al., 2013; Guo and Verdini, 2015; Xie et al., 2018). We have diversified the quantitative research between agglomeration and entrepreneurship by using panel data from Chinese NHTZs from 2014 to 2021. Third, most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs. Finally, this paper meticulously investigates the profound influence and underlying mechanisms of firm density within NHTZs on entrepreneurship. It discerns two distinct mechanisms at play: the legitimacy effect and the impact of excessive competition resulting from firm density. This comprehensive analysis significantly contributes to our comprehension of the intricate interplay between firm density and entrepreneurship, shedding light on the dynamics of competition and mutual benefits.

Circular construction offers sustainable solutions and opportunities to disentangle a project’s life cycle, including demolition, deconstruction and repurposing of architectural, civil engineering and infrastructure projects from the extraction of natural resources and their wasteful usage. However, it introduces additional layers of novel risks and uncertainties in the delivery of projects. The purpose of this study is to review the relevant literature to discover, classify and theorize the critical risk factors for circular construction projects.

The paper conducted a systematic literature review to investigate the risks of circular construction projects. It deployed a multistage approach, including literature search and assessment, metadata extraction, citation frequency analysis, Pareto analysis and total interpretive structural modeling.

Sixty-eight critical risk factors were identified and categorized into nine broad taxonomies: material risks, organizational risks, supply chain risks, technological risks, financial risks, design risks, health and safety risks, regulatory risks and stakeholder risks. Using the Pareto analysis, a conceptual map of 47 key critical risk factors was generated for circular construction projects. A hierarchical model was further developed to hypothesize the multiple possible connections and interdependencies of the taxonomies, leading to chain reactions and push effects of the key risks impacting circular construction projects.

This study constitutes the first systematic review of the literature, consolidating and theorizing the chain reactions of the critical risk factors for circular construction projects. Thus, it provides a better understanding of risks in circular construction projects.

There is still an ongoing debate on the value relevance of capital structure and its determinants. Recently the issue has been explored in family firms after being explored in mature firms. This paper investigates the role of institutional investors and the firm's innovation activity in influencing the firm's decision and ability to acquire debt capital.

A large sample of 700 privately-held family firms in Italy from 2010 to 2019. Two analysis techniques are used: panel analysis and path analysis. The value of debt and the debt ratio are used as leverage measures. The value of patent (as a proxy for innovation) and institutional investor are the explanatory variables.

The results show that institutional investors have no relationship with financial leverage measures except when controlling for an interaction variable (Institutional investors × Lombardy region). The patent value is positively correlated with debt; however, the ratio patent-to-asset is negatively related to financial leverage indicating higher risk exposure. The nonlinearity test demonstrates a turning point when the relationship between patent value and debt inverts.

Firms should monitor their innovation activity since excessive innovation increases risk exposure and affects financing opportunities and value. The involvement of institutional investors does not always enhance value.

Existing literature focuses separately on family firm innovations and financial leverage as outcome variables, emphasizing the role of institutional investors in both fields by adopting agency theory and socioemotional wealth framework. In this study, the authors go further by merging both relationships, investigating the dynamics of the institutional-family firm innovation relationship in influencing the firm's capital structure. The authors contribute to the ongoing debate by providing original findings on capital structure, governance and innovation, supported by rigorous methods to enhance family firms' decision-making.

Digital transformation (DT) is among the vital factors contributing to innovation ambidexterity, especially for advanced manufacturing firms (AMFs). However, the empirical studies on the relationship between DT and innovation ambidexterity in AMFs from the perspective of knowledge management are inadequate. Therefore, this study aims to systematically analyze the impact of DT on innovation ambidexterity and its mechanism of action.

This study selects 254 listed firms within the ten key areas of “Made in China 2025,” as they occupy a key position in China’s advanced manufacturing system. Based on the knowledge-based view (KBV) and contingency theory, it constructs a model of the influence mechanism of DT on innovation ambidexterity.

The results show that the DT of AMFs positively influence innovation ambidexterity. External pressure from environmental turbulence enhances the positive relationship between DT and innovation ambidexterity, demonstrating the “resilience effect,” external knowledge search (EKS) and broadening the knowledge base mediating roles between them, highlighting the “accumulation effect.”

By identifying this mediation mechanism of DT and innovation ambidexterity, this study provides new ideas for path research on the KBV. Moreover, this study explores the triggering effect of market environmental turbulence on the DT of firms. It reveals the boundary conditions of DT acting on innovation ambidexterity, expands the research perspective on organizational resilience and enriches the theory of power change.

The first objective of this article is to analyse the reasons to pursue inclusive growth, that is economic growth accompanied by a reduction of social inequalities in different dimensions. The second objective of the article is to develop a systematised framework to understand the different channels and enablers by which heritage can contribute to inclusive growth through a review of specialised literature.

The methodology of this article is based on an exhaustive review of existing literature around models of economic development and their ability to decrease social inequalities. It critically reviews theoretical and empirical studies on existing economic approaches and links them with the heritage policy field.

The article finds that countries should pursue inclusive development since it is a fundamental condition for social cohesion, trust and society's overall well-being and because it enables economic growth to be sustainable through time. It also identifies four channels through which heritage can contribute to inclusive development: in its public good dimension, in its capacity to equalise opportunities, in its ability to reduce social, educational and health disparities and in its capacity to decrease spatial income inequalities through regeneration processes.

The framework, that is developed to categorise the different channels and enablers through which heritage could contribute to inclusive growth, is not empirically tested. Further research could approach this by estimating a difference in difference model. However, data limitations could limit this objective in the short-term.

Its originality relies in the development of a conceptual framework that is aimed at shaping heritage policies that target, at the same time, the reduction of inequalities and economic growth.