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This study examines the effects of corporate governance on market returns during the first four waves of the COVID-19 crisis.

Event study and linear regression methods were applied on a sample of 293 US firms.

The results show that differences in abnormal returns are more significant during the second wave of COVID-19 and the two following waves. Moreover, estimations show that good corporate governance alleviated the effect of COVID-19 during the second wave and the two following waves. However, corporate governance did not affect abnormal returns during the first wave. Furthermore, evidence highlights that the effect of corporate governance is more observed in the industries most affected by COVID-19 than in the least affected industries.

Many studies have attempted to investigate the effect of corporate governance on stock returns during the first wave of the pandemic. However, to the authors' knowledge, this is the first study that focuses on different waves that occurred during 2020 and 2021.

This chapter presents the current research status of family constitutions from an economics perspective. It locates the family constitution as part of the family and business governance structure of a family firm and the owner family. The typical structure and content of a family constitution are introduced. The chapter focuses on the status of research about family constitutions and provides a structured map for future research. With regard to extant research, it must be stated that the stock of literature is small. The contributions to literature are categorized in surveys; conceptual contributions; survey data; small sample, qualitative, empirical studies; and big sample, quantitative, empirical studies. The latter group includes three studies with a separate family constitution variable. This small number symbolizes that the family constitution still is an under-researched area. Therefore, family constitution research is far away from being able to answer central questions of advice-seeking owner families like, for example, whether a family constitution affects family performance, firm performance, or both; or whether the development process of a family constitutions disposes of an effect on family or firm performance separately from the hypothesized effect of the family constitution document.

Family businesses are essential to the global economy but often grapple with family-related issues, especially during succession. This study explores how governance tools like the family protocol (FP) mitigate conflicts by setting standards for family firm management and continuity. Pioneering the use of game theory and adverse selection setups in family business governance, this research uncovers FP determinants.

This research employs game theory and adverse selection setups to delve into the strategic decision-making processes of stakeholders in family firms. The authors break new ground by applying principal–agent theory (PAT) to family business governance structures. This innovative approach uncovers the determinants of the FP, enhancing the authors’ understanding of family firm dynamics.

The authors emphasize the importance of custom governance structures, such as the FP, in managing complex family-business interactions. These structures mitigate conflicts and promote smoother transitions during succession, ensuring family firm continuity. This study identifies key determinants, and these results will aid founders, families and practitioners in achieving smoother transitions, ensuring family firm continuity.

This research pioneers game theory and PAT applications in family business governance, shedding light on the effectiveness of customized governance mechanisms. By identifying FP determinants, the authors contribute to a deeper understanding of family firm dynamics. The findings have practical implications for founders, families, practitioners and consultants, promoting the long-term success and harmony of family firms in the global economy.

The paper investigates how visibility, information technology and innovation management impact sustainability performance. It proposes a framework explaining the role of visibility in driving firms' sustainable performance and the relevance of innovation management and information technologies in enhancing organisational visibility. This study intends to add to the discussion within the management literature about the potential of innovation management to drive sustainability. It seeks to provide insight into the practices that small and medium-sized enterprises (SMEs) can adopt to improve their sustainable performance.

Using empirical methods, the study investigates SMEs in central Mexico. The demographic information in the dataset includes 15 years as an average length of service from firms. Of the surveyed firms, 70% were from the manufacturing sector and 30% were from the service sector, as these are the most representative sectors of the productive region. A variance-based structural equation model approach was used to test the hypotheses, processed with the partial least squares (PLS) regression method.

The research results show that visibility significantly impacts sustainability performance. Innovation management has a higher influence on visibility than information technologies, emphasising the need to improve the quality of information in firms, not just the tools. The findings support managers in comprehending the crucial importance of visibility in aiding firms to achieve higher sustainability performance.

The study only examined a sample of Mexican SMEs; therefore, the findings' generalizability must be considered within this context. Secondly, the survey only focused on services and manufacturing firms and a more detailed analysis of the sector could provide further clarity on the relationships between variables. As a result, future research should consider these limitations and explore additional contexts to improve the overall understanding of the topic. Moreover, the scale used to measure the variables was adapted from other researchers with similar context research and reflective variables.

The results provide helpful information for SME managers about the importance of focusing on innovation management processes and employing information technologies as crucial managerial strategies. This will aid in increasing visibility and supporting the development of sustainability performance in firms.

The world red-code, among others, with climate change and social gaps, has generated the need to contribute to sustainable development, and it has mobilised people on all levels all over the world for the simple purpose of preserving life. Therefore, society, as a crucial group that affects and is affected by this red-code situation, should act in favour of visibility, the use of high-quality information (e.g. transparent, accessible and relevant) and information technologies to promote sustainable practices. This could mean that society should be prepared to incorporate new capabilities and spaces to interchange knowledge as a participatory community that can contribute to better sustainable dynamics that could expand its participation in public decisions. Also, the government should encourage digital democracy (e.g. develop social participation platforms), opening and harmonising rules and mechanisms combining high-quality information with IT to provide flexible and adequate services that support sustainable development, such as efforts towards constructing sustainable and smart cities.

This study explores how innovation management can drive firms' sustainability performance, which is crucial for improving competitiveness. The question of how to enhance sustainability performance through managerial drivers is a critical one. This study empirically investigates the nexus of visibility and sustainability performance, innovation management and information technology with visibility.

The aim of this study is to examine the behavioral intention (BI) to adopt the Coinbase Wallet by Spanish users.

A survey was administered to individuals residing in Spain between March and April 2021. There were 301 questionnaires analyzed. This research applies a new predictive model based on technology acceptance model (TAM) 2, the unified theory of acceptance and use of technology (UTAUT) model, the theory of perceived risk and the commitment trust theory. A mixed partial least squares structural equation modeling (PLS-SEM)/fuzzy-set qualitative comparative analysis (fsQCA) methodology was employed for the modeling and data analysis.

The results showed that all the variables proposed have a direct and positive influence on the intention to use a Coinbase Wallet. The findings present clear directions for traders, investors and academics focused on improving their understanding of the characteristics of these markets.

First, this study addresses important concerns relating to the adoption of crypto-wallets during the global pandemic. Second, this research contributes to the existing literature by adding electronic word of mouth (e-WOM), trust, web quality and perceived risk as new drivers of the intention to use the Coinbase Wallet, providing unique and innovative insights. Finally, the study offers a solid methodological contribution by integrating linear (PLS) and nonlinear (fsQCA) techniques, showing that both methodologies provide a better understanding of the problem and a more detailed awareness of the patterns of antecedent factors.

In this paper, the authors suggest that Central Americans can use entrepreneurship to solve economic uncertainty in their home country and that entrepreneurship can contribute to reducing the number of undocumented migrants to the USA.

The authors first illustrate the context of Central American illegal migration to the USA from a transitional entrepreneurship perspective, the authors address the economic drivers of illegal migration from Central America, which results in marginalization in the USA. Second, the authors build a theoretical model that suggests that Central Americans can improve their entrepreneurial abilities through the entrepreneurial cognitive adjustment mechanism.

Central Americans at risk of illegally migrating to the USA have high entrepreneurial aptitudes. Entrepreneurship can help them avoid the economic uncertainty that drives Central Americans to illegally migrate to the USA and become part of a marginalized community of undocumented immigrants. This conceptual paper introduces an entrepreneurial cognitive adjustment mechanism as a tool for Central Americans to reshape their personalities and increase their entrepreneurial abilities in their home countries. In particular, entrepreneurial intentions reshape the personality characteristics of individuals (in terms of high agreeableness and openness to experiences, as well as low neuroticism) through the entrepreneurial cognitive adjustment mechanism, which consists of reflective action in sensemaking, cognitive frameworks in pattern recognition and coping in positive affect.

This paper studies Central Americans at risk of illegal migration using the lens of transitional entrepreneurship, which advances the understanding of the antecedents to marginalized immigrant communities in the USA and suggests a possible solution for this phenomenon. Besides, the authors build a cognitive mechanism to facilitate the transitional process starting from entrepreneurial intention to reshaping individuals' personality, which further opens individuals' minds to entrepreneurial opportunities. Since entrepreneurial intention applies the same way to all entrepreneurs, the authors' aim of constructing the entrepreneurial intention unfolding process will go beyond transitional entrepreneurship and contribute to intention-action knowledge generation (Donaldson et al., 2021). Moreover, the conceptual study contributes to public policy such that international and local agencies can better utilize resources and implement long-term solutions to the drivers of illegal migration from Central America to the USA.

This study analyzes antecedents explaining the lack of resilience in family-owned firms. Our model suggests that family-owned firms’ strategic behaviors and heterogeneity explain a particular crisis outcome: a lack of recovery.

Our evidence is based on a sample of 842 European family-owned firms. We complement regression analysis results with fuzzy-set qualitative comparative analysis (fsQCA).

Our results show that lack of resilience is relevant. In fact, in our sample, 60% of family firms (FFs) failed to recover their sales. This evidence supports the role played by exploitation and exploration behavior as well as family heterogeneity in explaining the lack of recovery.

Our results may offer guidance to practitioners and policymakers on the pathways that explain the lack of resilience.

Although it is unlikely that an external crisis such as COVID-19 will occur again to the same extent, other threatening events may occur and impact FFs. Understanding how FFs can avoid non-recovery is crucial: it can inform managers on how to deal with stressful events and provide guidance to economic authorities on how to help FFs around the world avoid non-recovery, which affects the economy.

First, the study contributes to FF research by offering a theoretical explanation for the different effects of FF attributes on non-recovery in the context of a global crisis. Second, it contributes to the literature on organizational resilience by examining explorative and exploitative behaviors as antecedents of FF non-recovery. Third, we show the usefulness of combining fsQCA and regression analysis to understand complex phenomena.

本研究擬分析家族企業缺乏復原力的原因。我們的模型暗示了家族企業的策略性行為和異質性是可闡明一個特殊的危機後果：企業未能成功恢復。

我們的證據是建基於一個涵蓋842間歐洲家族公司的樣本。我們以模糊集質性比較分析，去補充迴歸分析的結果。

研究結果顯示，缺乏復原力是有相關性的。事實上，在我們的樣本裡，有百分之六十的家族企業未能恢復其銷售量。研究結果提供了證據，確認了若要闡明缺乏復原力的原因，我們必須瞭解開發和探索行為、以及家族異質性所扮演的角色。

我們的研究結果，或許可為從業人員和政策制訂者提供引導，幫助他們找出缺乏復原力的原因。

雖然像2019冠狀病毒病的外部危機以同樣的程度發生的機會是很微的，但其它有威脅性的事件或會發生，並會影響家族企業; 因此，瞭解家族企業如何能避免缺乏復原力的弊端是非常重要的。這可讓經理瞭解如何處理令人憂慮的事件，亦可為經濟事務當局的高層人員提供引導，幫助他們瞭解如何協助世界各地的家族企業，去避免影響經濟的復原乏力。

首先，本研究在家族企業的探討上作出了貢獻。研究人員在一個全球危機的背景下提出了理論解釋，讓人們明白家族企業的屬性，如何會對復原乏力產生各種影響。其次，本研究在探討組織彈性的文獻方面作出了貢獻，因研究人員對作為引發家族企業復原乏力因素的探索和開發行為、進行了探討和研究。最後，研究人員展示了若要瞭解複雜的事物或現象，把模糊集質性比較分析和迴歸分析結合起來運用是有效的。

Few resources exist to incorporate principles of modular approach to course design. This research aimed to help instructors by presenting principles for practical and empirically informed modular course design in engineering education.

In the first phase, a systematic literature review was completed to identify categories addressing a modular course design. Search and screening procedures resulted in 33 qualifying articles describing the development of a modular course. In the second phase, 6 expert interviews were conducted to elaborate on the identified categories.

Guided by the interview results and the ADDIE (Analyze, Design, Develop, Implement, and Evaluate) course design model, the categories were compiled into six design principles. To present the design principles in relation to the guiding principles of modular approach, an overarching conceptual model was developed.

Here, we present our innovation; a foundation for an evidence-based systematic approach to modular course design. Implications have value for supporting flexibility and autonomy in learning.

Scholars and practitioners agree that governance practices are at the core of what differentiates family firms from other forms of business. Yet, there is a lack of consensus in the extant literature about how and the extent to which family governance affects firm performance. This study aims to address the matter by taking a more comprehensive unified systems perspective to explore the pathways through which variations in family governance mechanisms simultaneously affect both the business and the family system.

This study utilises a global dataset sourced from a survey and structural equation modelling to empirically measure several intermediate and final outcomes of family governance.

This study finds that the use of family protocols, as well as formal and informal meetings, have positive effects on the functioning of the family, whereas family involvement in the top management team diminishes the firm's competitive advantage. In turn, this study demonstrates that both family functioning and competitive advantage are positively related to firm performance.

By taking into consideration the complexity of the family and business systems, and measuring their interlinkages, this study advances knowledge by providing a more complete picture of the family governance/firm performance relationship.