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The purpose of this paper is threefold: first, to recount the scale, composition and agents of red capital in Hong Kong; second, to conceptualise the peculiarity of red capital; and third, to explore the impact of red capital on the political and economic institutional setup in Hong Kong.

The paper consults the comparative capitalism literature to conceptualise the phenomenon of red capital. The paper gathers data from Hong Kong Stock Exchange and indices to provide an overview of red capital. Furthermore, the case study of 2016 Legislative Election is deployed to investigate the mechanisms of red capital’s influence. The paper concludes with a summary of how red capital may challenge the validity of the “One Country, Two Systems” framework.

This paper argues that red capital replicates China’s state–capital nexus in Hong Kong and morphs the game of competition in favour of Chinese nationally controlled companies. In tandem with the emerging visibility of the party–state in Hong Kong’s economic sphere, the authors observe attempts of Chinese economic actors to compromise democratic institutions, deemed obstacles to state control.

This paper is the first attempt to systematically embed the discussion of red capital into comparative capitalism literature. This study provides conceptual tools to examine why red capital could pose a threat to liberal societies such as Hong Kong. Through this paper, we introduce a novel research agenda to scrutinise capital from authoritarian states and investigate how the capital is changing the political infrastructure shaped by liberal principles and values.

This article aims to provide a bibliometric and systematic literature analysis of studies published in the Journal of Intellectual Capital (JIC) from 2014 to 2018 in order to highlight emerging themes and future trends.

The analysis focused on 187 papers published on JIC over a period of five years. A scientometric approach to data mining enabled the detection of patterns in the dataset. Precisely, the investigation was conducted by integrating a bibliometric analysis on VOSviewer with a systematic literature review.

Four main streams of research on JIC emerged in the years of the analysis: reporting and disclosure of intellectual capital; intellectual capital research in universities, education and public sector; knowledge management; intellectual capital, financial performance, and market value.

The study offers valid insights to the topics covered by the Journal of Intellectual Capital by identifying the main research gaps and trends, along with future research avenues.

Prior scholars mostly focused on systematic literature reviews, whilst the use of bibliometric methods generally seems to be a missing tile in the research domain. Also, none of the extant studies has focused on the Journal of Intellectual Capital with reference to the 2014–2018 period. The use of both bibliometric and systematic approaches to literature review delivered extremely fine-tuned results in terms of factors such as citations, contents and evolution of clusters over time.

This study aims to investigate the role of the components of intellectual capital (IC) on entrepreneurial opportunity recognition among small and medium enterprises (SMEs) in the Sultanate of Oman. The interrelationships of these components are also examined.

The study used quantitative research methods. Data were collected using structured questionnaires from a sample of 347 respondents from SMEs operating in Oman. Structural equation modeling was employed to examine the hypotheses using partial least square technique.

The analysis results demonstrate that structural capital, relational capital and spiritual capital have significant relationships with entrepreneurial opportunity recognition. Meanwhile, human capital has no relationship with either entrepreneurial opportunity recognition or spiritual capital. Intriguingly, significant interrelationships are observed among IC's components.

This study offers useful managerial implications for the related parties: firms, public institutions and other stakeholders. The findings could be a guideline for SME managers/owners to recognize the right entrepreneurial opportunity.

To the best of our knowledge, this study is the first to reveal the relationships between the tripartite model of IC and entrepreneurial opportunity recognition. This study is also the first to test the interrelationship of spiritual capital on other intellectual components.

The paper’s purpose is to consider, using a transaction cost economics (TCE) framework, the mechanisms used by space agencies to encourage private investment in the commercial spaceflight sector.

The authors conducted a content analysis of 554 pages of news articles, relating to issues pertaining to partnerships between national government-based space agencies and private space travel providers, published over a 20-year period. Leximancer was used to initially screen the data and then the authors manually analysed the content to identify themes.

The data analysis revealed three themes, relating to: the uncertainty of space travel; National Aeronautics and Space Administration (NASA) stimulating innovation in the private sector; and risk, insurance and regulation. These themes informed by TCE reveal the “hierarchical” organisational forms used to achieve human spaceflight and then the “hybrids”, insurance and regulations used to stimulate private sector investment and innovation.

This paper contributes to the accounting literature by answering the calls of Alewine (2020) and Tucker and Alewine (2022a, b) for more research into accounting in the space context. Specifically, the paper contributes by identifying mechanisms used by NASA to stimulate private investment in the space travel sector, as well as issues that have affected the implementation of these mechanisms. The paper also contributes to the literature by, based on the analysis, identifying a series of reflections designed to stimulate further management accounting research in the space context.

The term “Shariah compliance” states that a firm conducts business activities within the boundaries stipulated by Islamic law. The purpose of this study is to empirically examine whether a firm’s Shariah compliance helps in reducing firm-specific stock price crash risk (SPCR).

Using the data of 10,391 firm-year observations of non-financial public listed firms in Malaysia from 2001–2017, this study uses the panel data estimation technique for regression analysis. Moreover, a series of alternative estimations has been applied to check the consistency of results.

The findings reveal a significant negative impact of firms’ Shariah compliance on SPCR. The results indicate that Shariah-compliant (SC) firms are less likely to hoard bad news, ultimately reducing SPCR. The results also unveil a possible mechanism through which SC firms reduce SPCR. The findings reveal that SC firms are less likely to be involved in earnings management, which reduces the risk of a stock price crash in SC firms. It highlights the behavioral differences in financial reporting between SC firms and Shariah non-compliant (SNC) firms.

This research adds to the existing literature of Islamic capital markets from the perceptive of SPCR. The SPCR exhibits a tail risk of the stocks and is very important for risk management and investment decisions. The findings of this study will help risk-averse investors to include SC firms in their investment portfolios for risk minimization. The results also guide policymakers and regulatory bodies to rethink the monitoring mechanisms of publicly listed firms.

This study is unique, as it highlights that firms’ Shariah compliance reduces SPCR.

This paper investigates the influence of political connections on sustainability disclosure in the context of China's Regulation 18.

The study employs a quasi-experimental approach, utilizing difference-in-difference (DiD) analysis, dynamic DiD and propensity score matching to analyze the effects of politically connected independent directors on sustainability disclosure following the implementation of Regulation 18.

Companies with politically connected independent directors show an improvement in sustainability disclosures after Regulation 18. This effect is stronger for firms facing high political pressure or lacking alternative political power. Additionally, the increase in value from sustainability disclosures compensates for the loss of politically connected independent directors, indicating a positive value impact of sustainability disclosures.

This study provides novel insights into the corporate disclosure policy in China by investigating the impact of politically connected directors on sustainability disclosure. Additionally, it sheds light on the limitations of political power and its substitution effects within companies.

The paper aims to explore the key competitiveness indicators (KCIs) that provide the guidelines for helping new real estate developers (REDs) achieve competitiveness during their inception stage in which the organisations start their business.

The research was conducted using a combination of various methods. A literature review was undertaken to provide a proper theoretical understanding of organisational competitiveness within RED's activities and developed a framework of competitiveness indicators (CIs) for REDs. The Delphi forecasting method is employed to investigate a group of 20 experts' perception on the relative importance between CIs.

The results show that the KCIs of new REDs are capital operation capability, entrepreneurship, land reserve capability, high sales revenue from the first real estate development project, and innovation capability.

The five KCIs of new REDs are new. In practical terms, the examination of these KCIs would help the business managers of new REDs to effectively plan their business by focusing their efforts on these key indicators. The KCIs can also help REDs provide theoretical constructs of the knowledge base on organisational competitiveness from a dynamic perspective, and assist in providing valuable experiences and in formulating feasible strategies for survival and growth.

The purpose of this paper is to research the impact of firms’ political connections on the stock price crash risk.

Empirical methodology is used in this study.

Using a large sample of Chinese firms for the period 2008-2013, the authors find that corporate political connections can reduce the stock price crash risk. When managers are still in politics or firms are in high financial transparency of local governments, the relationship between political connections and the stock price crash risk is weakened. In addition, the authors’ research shows that the corporate political connections influence the stock price crash risk by affecting the speed of confirmation of bad news.

The findings in this study suggest that political connections will affect corporate disclosure.

These results can help senior executives and investors make better decisions to prevent the stock price crash risk.

This paper empirically analyzes the impact of different types of political connections on the stock price crash risk for the first time.

Strategic stakeholder engagement, entrepreneurialism, ecosystem, corporate social responsibility, event management, branding, marketing strategy.

Post-graduate level, practitioners interested in MENSA Region, entrepreneurship policy makers and NGOs.

Abraaj Capital Ltd (Abraaj), a highly reputed private equity investment and management company, strongly believed in corporate social responsibility, strategic stakeholder engagement and entrepreneurship ecosystem development. In November, 2010, Abraaj held the “Celebration of Entrepreneurship” (CoE) a two-day free entrepreneur event, in Dubai. CoE was attended by more than 2,400 participants. The purpose of CoE was to contribute to building an entrepreneurship ecosystem in the Middle East North Africa South Asia region (MENASA). Based on participant feedback, CoE Outcomes and stakeholder feedback, the event was very successful.

This case is a good example of community engagement and showcases entrepreneurship ecosystem development. This case also highlights the challenges of putting together a signature event in a very short time frame. The future management dilemmas are also raised on various issues like whether to make this successful event a regular part of their organizational activities, and issues concerning the funding of such events. This case can be used to teach event management, branding, marketing strategy, CSR and entrepreneurship (from the ecosystem point of view). It will appeal to both educationalists and practitioners interested in the MENASA region, policy makers who facilitate entrepreneurship, CSR managers, event management companies and marketing specialist. It can be used to teach both undergraduate and postgraduate courses.

Strategy students can focus on marketing and branding strategies; like stakeholder engagement, internal marketing, social media, positioning and brand architecture. Student of event management can learn about prioritizing, adaptability, funding and the complexity of layering a program.

Teaching notes, videos.

Purpose – This chapter examines the challenges in exploring, analysing and developing the concept of social capital, seen as the proclivity (or otherwise) of societies to engender stable structures for cooperativeness that support economic exchange and control. The authors focus on Asia and outline a theory of researchable social capital elements. Methodology is considered against the contexts of Asia. The authors emphasize the role of higher education as determinant, seeing it as crucial to the accumulation of human capital and often at the centre of many theories of societal progress.

Findings – The authors’ findings are that social capital is a contested concept that does not rest within a bed of widely adopted theory; researching it comparatively requires acknowledging societal meaning structures; there is emerging acceptance of complexity theory, evolutionary dynamics, and multi-disciplinary analysis; it is possible to disaggregate the concept into researchable issues; many research methods are available.

Implications – Modes of human cooperativeness are crucial for the understanding and comparison of economic systems. Implications are strong and pervasive for policy and practice. The authors find no evidence of a distinct indigenous ‘Asian’ perspective in research but much evidence of powerful contributions from Asian scholars working collaboratively with colleagues internationally.

Originality/Value – The chapter provides a helicopter perspective of an emerging field, notes conceptual challenges and gives practical guidance for researchers.